art cashin would be trouble. this is going to be grisz for the political mills. interesting monday ahead for us. >> watch the mexican peso. "closing bell" starts right now. hi everybody welcome to "closing bell." i'm kelly evans at the new york city stock exchange. >> i'm michael santoli in for bill griffith. just in the last two hours the fbi announcing it is investigating new e-mails related to democratic nominee hillary clinton's use of private e-mail server to potentially handle classified information. >> the dow, s&p 500 and nasdaq all lower as soon as the news crossed. we are keeping an eye on markets. the s&p down about 2.5 points. watch the mexican peso. it definitely dropped on this.

the flip side is the dollar has been strengthening. we will talk to rick about that in a moment. gold moving to highs of the session although we had a lot to digest. the personal consumption figure wasn't that great. >> the market all across the board wobbled. we had oil close below $49 a barrel. all the asset markets adjusting. >> the volatility index that is about 16.25. spiked above 17. we have amazon under pressure, potential partnership between general electric and baker hughes falling. >> we begin with fbi investigating newly found clinton e-mails. the wording is careful because there is a difference between reopening and investigating newly found e-mails. >> what i am told is that this investigation into hillary clinton was never administratively closed.

there were technical details being worked on behind the scenes even though james comes said the investigation was completed. the letter sent to capitol hill today that stunned everybody doesn't say they are re-opening the investigation. he says in connection with an unrelated case the fbi has learned of the existence of e-mails that appear to be pertinent to the investigation and goes on to say they will investigate those e-mails and get to the bottom of it. within the past couple of seconds we are getting a couple of new items that add a little shape and color to what we know about what is going on. the a.p. reporting a headline, a u.s. official says the newly discovered e-mails related to clinton investigation did not come from her private server. so that at least crosses off one possible avenue for where the e-mails came from that prompted this notification up to capitol hill just 11 days before a u.s.

presidential election. we are getting new reporting from pete williams there is no indication an official says that clinton or the campaign or the state department was with holding something here but the e-mails were not held by someone who was investigated in the clinton e-mail case, the official said. so that's an important piece of nuance here. the e-mails that they found were not being held by somebody who was investigated in the clinton e-mail case. the idea being here that this doesn't look to be a case where somebody was stone walling or hiding evidence. this seems to be a case of unrelated investigation stumbling across e-mails that are pertinent to the case. what that investigation was, who they were looking at and where this device was that they found that had e-mails relevant to the case, that is all still unknown and maybe unknowable before election day. republicans had been pouncing on

this today. speaker of the house paul ryan putting out a statement that hillary clinton has only herself to blame. he says yet again hillary clinton has nobody but herself to blame. she was entrusted with secrets and betrayed the trust. we were watching the campaign rally today and saw her come down from the campaign plane. reporters waiting to ask her questions shouted questions at former secretary of state hillary clinton and didn't get an answer to the questions. we saw president obama with white house reporters there and had an opportunity to shout questions to him. no answers in response from the president. clearly we are waiting now to hear the first words from hillary clinton on all of this. donald trump has already weighed in and said this is an indication that the fbi will reopen the investigation and take the necessary steps to get to the bottom of all of this.

his supporters loved it. that was greeted with a huge cheer at the campaign trail. >> the letter said he could not really say exactly how long this new stage of what they are probing might take. do we have indication as to whether the director of the fbi will update or give any other kind of color around this? >> you would hope that he would we have been asking the fbi for any detail it's not clear how long it will take them to figure out what is in the device or what e-mails might be pertinent and whether these touch on the issue being investigated which is whether or not hillary clinton misused classified information in the course of setting up her private e-mail server.

all to be determined. i'm not getting the sense in talking to people i have been talking to that we are going to necessarily know any of those answers or many of those answers before election day. >> let's bring in former federal prosecutor. to borrow a phrase about all of this he said it must -- >> i'm not so sure. i call it radio act active. it must be something that led to the conclusion that this evidence that was gathered would have a material effect on their decision whether to indict.

so this information is really cumulative or adds nothing new there would be absolutely no reason for this. >> no reason for it. we don't really know what the calculation is here in terms of what tensions were going on between the investigative staff and director in terms of why the calculation to send this letter today unless we take it on face value that says we told you at the committee we are going to keep you updated and this is now an update. >> that's true. a couple of things to keep in mind. there were reports that six trial level attorneys disagree with the decision not to indict. what you may be seeing here is kind of the interaction between trial level attorneys and having been a federal prosecutor those are the enlisted soldiers. those go through and look at the evidence and make a determination as to whether or not presentation should be brought cht those people who you are taught as a young prosecutor you do not indict unless you

think you can convict. those people have unanimously thought this should go forward or go in a different direction. now because of additional evidence there has been a shift, a paradigm shift in the relationship between trial level lawyers and the political -- upper level people of the justice department. >> to that point what happens in terms of the timeline now? we have 11 days to go. what happens if there is an indictment after election day? >> that is a great question. what happens? i think it is unrealist. it is my understanding there has not been a grand jury tlmpt is a long going investigation. the u.s. department of justice and federal government does not indict without indictment. there will have to be a grand

jury that is being used and gets this information but a lot of information has to be presented to them particularly to return an indictment as serious as this and whose consequences would be as far reaching and far rippling as this. >> i guess it is not just a matter of -- we are speculating here. it is not just a matter of let me see what the material is on this new device we have heard exists. let me see how it compares to what we knew. you have to pursue it, find the people who were involved in those correspondents and then have this process move along and not necessarily overnight. >> i agree with you not necessarily overnight. it is not overnight. and again it was speculation but that doesn't stop me from giving my opinion. my opinion is this. irrespective of -- unless the information calls into question new witnesses, new people, new testimony needed then that

obviously takes a lot longer. if the new information substan cheeates or further supports a decision going back to the question of what the trial level lawyers want to indict. that is something that will happen a lot more quickly. i still think not as quickly as -- certainly not before the election. you have to do all of those things i mentioned before. it's not going to be another one-year investigation. >> thanks for joining us. walking us through some of the possibility of this news. we have 50 minutes to go into the close. markets gyrating trying to make sense of all of these discoveries. joining our "closing bell" exchange we have cole smid. and rick santelli from chicago.

kenny, what does the market make of these announcements? the reaction was sharp move lower. >> a lot of it is driven by -- find negative because it went from plus three or plus four to minus five in a heart beat. >> it happened very quickly before you almost knew it. then you saw the headline. what it speaks to is the underlying angst and anxiety that exists in this market and really what does it mean? the market really priced in a clinton presidency. this throws that all up in the air again. what is it going to look like? you saw it with the mexican peso right away. i think that is what you are seeing in the market. in the end he makes a few good points. she gets elected and then they indict her? just think about the implications here. i think that is where the market is going to run into volatility over the next couple of days. >> does any of this filter into your investment process whether

it is just looking for overreactions or trying to figure out how you want to be positioned in either scenario? >> there have been reactions in what is going on. at the same time the stocks were getting plitly beat up. what i would say also is what investors have been excited about and then paying bigger and bigger multiples for tech even if they don't produce earnings is something going on they can't sustain. if you don't grow your earnings you will not get bigger prices in the future. >> rick, where do we start? the dollar? do we talk about the data? do we talk about the news this afternoon? the markets reaction? we had oil, too. maybe the dollar is a good place to look in terms of the strength that we are seeing. >> i like the way you think. let's take a big view.

if politics or who wins was that significant or as kenny said they have priced in hillary after what we learned and we don't know the facts but the market always seems to assume the worst and it is hard to imagine that comey is doing this for something insignificant. stocks are up a little bit now. the vix moved a lot but it has been really low. interest rates moved a few basis points but in the direction you think. the first thing i bring up is we can talk about how politics may effect the election but when such a surprise hits us and the market moves may have been big if you were in real timing and had a position but they are not that big. what does that say about both candidates and where markets and the economy may be? second thing, of all market moves i concentrate most on the dollar index because last friday was a unique day for the dollar index. it was the first time the dollar

index was in positive territory for 2016 since the early days of february. and all week we have been slightly above that 98.63 level. wednesday and yesterday were right there and held. now we are below it based on the news and how it moved the market. so i think out of all markets that is the one i pay closest attention to. interest rates are virtually uneffected and i think that is a stand alone discussion of what is moving globals higher. >> i agree with you. i don't think the story today is about interest rates. the s&p has broken i think 2135. either way we are below that level. so it sets up for more negativity. if this story continues and certainly it is friday so over the weekend every news station is going to be yapping about it so it will be the talk of the weekend is that i think it sets

up market for volatility. will this be the be all end all of why stocks maybe go down? it goes to the point about the anxiety that is in the market whether earnings, global central bank policy. everyone is nervous and this is just the icing on the cake. >> let me jump in quick. inflation is a conversation now. >> that's absolutely fair. weep an eye on all narratives. 45 minutes to go. the dow down seven points and s&p down about six. the vix is at 16.5. we have more on the fbi's investigation of newly found clinton e-mails. donald trump campaign manager kellyanne conway. >> we look at stocks driving the industry lower coming up.

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markets holding to relatively narrow losses. come back a little bit from the

lows after the news broke about the fbi looking into clinton e-mails. we are negative across the board. >> nice look by mike. it's halloween time with party city ringing closing bell. twitter higher. social media upgraded on the heels of the company's earnings beats, layoffs and shares up about 1.6%. oppenheimer says twitter's evaluation reflects the outlook. alphabet is on the rise. the tech giant reporting earnings beat as advertising clicks exceeded estimates. alphabet announcing a new $7 billion stock buyback and those up 0.6%. the fbi investigating newly found hillary clinton e-mails. joining us is congressman ron desantis. thanks for calling in.

what is your initial response to the revelation of the fbi looking into additional e-mail evident if that is what it is and how do you think it will feed into the last several days in this campaign? >> i'm really surprised. i was shocked. we weren't expecting. we have been doing a lot of oversight over how the investigation was conducted. i think there were a lot of questions with how they conducted it from the people giving immunity to to how they handled secretary clinton's statements. as much as we didn't like how that was done i think most of us were not expecting this to happen. i would imagine that they have evidence that is relatively significant to go through the extraordinary step of writing a letter to the leaders of these committees. if you look back at the initial case it was pretty well established that there was top secret information on an unclassified server that she had possession of. he said she didn't intent to harm the u.s. so that is why a

case shouldn't be brought. perhaps this evidence is e-mails. it could be bear on whether she was truthful to the fbi or congress. congress actually sent a referal about her congressional testimony because he said he didn't look at it since he didn't get a referal. he sent that and listed examples where her testimony conflicted with his factual findings. the final angle could be any deletion or destruction of e-mails. it was very controversial that they deleted e-mails under congressional subpoena. those are angles that would be pertinent. >> representative, i want to mention the "new york times" is reporting that the clinton case e-mails are tied to an investigation into anthony weiner. they do appear to be pertinent to the investigation. going back to what you said about three hot button issues here.

one being deletion of e-mails in the past. there have been people granted immunity as part of agreements or people refused to answer questions. how will that play into the ability to find out more information? >> they gave a lot of people immunity. really unprecedented the amount of immunity giving out for so little information gleaned. i don't know that they did that very well just having been a prosecutor. i'm not sure whether they are going to do that more effectively going forward. but obviously if it is related to the weiner case that ties into one of her key aides and that could involve classified or clinton foundation matters. >> more breaking news on the fbi's investigation of the clinton e-mails. eamon javers? >> this is from "new york times" saying the federal law enforcement official said the

new e-mails uncovered into closed investigation were discovered after the fbi seized electronic devices belonging to huma abdean and her husband anthony weiner. the "new york times" reporting it right now. if that is the case that gives you clarity on where this device came from that officials are telling us they have been examining that produced e-mails that are relevant to the hillary clinton investigation that is as we now know being continued inside the fbi. we know that the fbi was looking at anthony weiner's device in the times reporting saying it seized devices. anthony weiner was caught up in this sexting case. officials looking at his device in order to determine the legality of all of that issue.

meanwhile, the "new york times" reporting here that they have gotten devices belonging to huma, one of hillary clinton's absolutely closest aides as she is with hillary clinton day in and day out on all of these e-mail exchanges released by wiki leaks. couldn't be a more close personal aid to hillary clinton. if there were e-mails that were relevant to this then the fbi would want to take a look at those and determine whether or not those e-mails are relevant to this issue of classified material. so that's the new news here from the "new york times." that will change the direction of the story pretty dramatically. >> maybe this fits into one thing you said earlier which is you heard this is not necessarily having to do with the private e-mail server?

>> i was getting an indication that this was not related necessarily to wiki leaks and the russian intelligence hacking of democratic officials' e-mail but something else. the "new york times" may have just given us the answer as to what the something else is. connecting those two stories is politically extraordinary dramatic and this is a dramatic turn of events here in the last several days before presidential election. >> eamon javers in washington. we have florida representative on the line. congressman, what do you make of the report of the latest findings? >> it's kind of a fitting end to a very bizarre election. the idea that anthony weiner and his sexting scandal is now being linked to the clinton investigation i certainly wouldn't have foreseen that. i think it is very strange but something that if something happened after she potentially

was elected president then he would have had a lot to answer for in congress. i think it sun precedented to have something this close to the election but i think the american people need to know where the fbi is. i don't think he had much of a choice but to inform the congress. >> thank you very much for your time. >> thanks. it's hard to know if we should be drawing close connections to what the market is doing. the market has rallied since we heard the "new york times" report of where this new e-mail information came from. >> we are up 40 points on the dow. when it first broke. >> down about 75. >> we climbed back almost 100 points. >> who knows how people are reading the implications of that? could today's announcement by the fbi that it is looking into clinton e-mails be an election game changer? kellyanne conway will join us next.

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in-app chat on thinkorswim. only at td ameritrade. it is time now for a news update. >> here is your update. the trustee liquidating bernie madoff's assets has reached a settlement with stanley chase. the deal provides more than $277 million for payments of the

ponzi schemer bringing total recoveries to more than $11.4 billion. bmw is recalling more than 154,000 cars and suvs in the u.s. and canada aiming to fix a wiring problem that can cause engined to stall. the recall involves vehicles. tensions are high in north dakota amid the biggest native american protest ever over the construction of a controversial oil pipeline. protesters and police clashed in the early hours. more than 140 people arrested and a second bridge was set on fire. and finally pandemonium at a zoo in northeast china when the giant panda sees snow for the first time. look at this. look at yuyu. he realizes he is still at home so off he goes doing a few somersaults in the glistening snow. that is our cnbc news update at

this hour. >> i can't get enough of that. thank you. we have more reaction now to the latest in hillary clinton's e-mail probe. a partner, former doj official and joins us now on the phone with his reaction. david, really crazy couple of hours it has been. thank you for joining us. we are still learning a lot about what is happening here. what is your read on the situation? >> we have to be careful and not jump into any immature conclusions. i would say this is a very serious development. i believe that the fbi has received information in the course of a different investigation that puts into question the fundamental conclusions which director announced that the investigation was being terminated. and there are only two possibilities here. one is they concluded based upon

information that somebody lied to them and obstructed justice. possibility number two they learned that more e-mails have been compromised in ways that brings into question conclusion that underlying factors that criminalized the disclosure of classified information. i i don't this can anyone else would cause him to take this very important step -- >> you don't think this is a procedural matter that these were e-mails they didn't know to ask for and come to life under the investigation and have to

say we are just going to look into this and let you know. you feel it really does speak to the basics of the prior conclusion? >> yes. there is a long standing policy of being extremely reluctant to take any sort of public steps this close to election. if there is history of anything that would approach the closest eve event. that was an indictment of wineburger [ inaudible ] i think director comey appreciates the gravity, the steps he is taking here. can't imagine that they just get

a bunch of e-mails that they can look at and analyze. if you look at this letter they are talking about the fact that he is trying to figure out whether the e-mails contain classified information and what is the import of that from their previous investigation into secretary clinton's private e-mail server. that does not sound -- it is something to take additional steps, not something that is self-contained or can be just looked at and put to the side. i think it is extremely serious. >> it is just a question of how much time is that going to take realistically? when are we going to get more information? and everyone with this election looming in 11 days has to do what? just speculate on their own? go off of the best that we can tell? >> this is a very difficult situation. let me try to defend again. obviously he was briefed by

investigative team and he concluded that something fundamentally important has been learned. for him not to go forward with this in a situation where enough people knew about it and this information would have likely leaked would have been equally bad. so you try to choose at least an option that protects the institutional integrity and the public esteem part. let me make a guess but i would be amazed if in the next 24 hours we would not know what is involved here. because enough people know about it by now. i doengt n't think we have to w until november 8 and be completely in the dark. >> thank you for your time and for joining us this afternoon. david rinkin. less than 25 minutes to go before the bell. the dow is clinging to slim

gains bouncing around below the day's highs. all indexes have. good to see the dow the only one that is in the green. and up next we will speak to trump campaign manager kellyanne conway on the latest fbi probe into clinton e-mails. "closing bell" will be right back. now that fedex has helped us simplify our e-commerce, we could focus on bigger issues, like our passive aggressive environment. we're not passive aggressive. hey, hey, hey, there are no bad suggestions here... no matter how lame they are. well said, ann. i've always admired how you just say what's in your head,

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markets on slight losses. it is about 80 points below highs of the day. 80 points or so above the lows. >> within minutes that release of fbi director james comey's letter by the investigation of e-mails donald trump took to the stage in new hampshire and had this to say. >> i have great respect for the fact that the fbi and the department of justice are now willing to have the courage to right the horrible mistake that they made. this was a grave mischaracter of justice that the american people fully understood. and it is everybody's hope that

it is about to be corrected. >> joining us now for more reaction from the trump camp via phone is kellyanne conway. welcome kellyanne. >> thanks for having me. >> we have spoken with a couple of people about this, the implications of this letter, the possible steps forward. all of which is maybe fine in a different environment but we have 11 days to go here and there are millions of americans who have already cast their ballot. how do you expect the nation to respond? >> this plays into reluctance that many americans have with hillary clinton. the majority say they don't find her to be honest or trust worthy. you saw during the fbi investigation and the press conference on july 5 that many americans said they disagreed with that, that they are very concerned that she may have violated the law or done something she should not have done. this has been a bit of an overhang for the clintons for

many years. i think in the last couple of days alone we discovered everything from these words in e-mails about bill clinton's aides trying to enrich bill clinton personally, through work in the clinton foundation donations and now we see that jim comey talking about separate investigation that somehow involves new critical e-mails. we don't know anything more about that at the trump campaign than you know about it in the news media. we think it is remarkable to have an investigation 11 days before an election. when people cast their vote they have to think long and hard. do you want to elect somebody who may be under indictment or convicted while president of the united states. i think hillary clinton is too risky and unfit and unqualified to be president. >> you say you don't have additional information.

mr. trump earlier suggested that this was the fbi correcting an error. we are hearing reports that it was a new device. it wasn't a matter of them rethinking their prior conclusion. does this mean that director comy has been playing its strength? >> i point you to a tweet by democratic operative close to the clinton campaign and he expressed frustration that the fbi should have done a more thorough job the first time to not have this reopen. maybe he will come back on that. i think the american voters will look at the candidates and say who represents the corrupt system that i detest and who has credibility to come in from the outside and completely change it from the outside in? and that is important to folks as they cast their votes. when you look at patterns and practices of hillary clinton no one will be surprised that there is another device or more

e-mails. it is being reported that this may have something to do into the investigation of anthony weiner's sexting case. the way voters look at things and prosecutors look at things fundamentally different. voters will say are you worth it? can i live with myself saying i am part of americans who want the country to go in a new direction and vote for the same. i think this hurts her. hillary clinton is not known to be resilient. i doubt very much at the clinton campaign they have a plan b that responds. >> this morning there was a lot of discussion about how much better funded the clinton campaign is and the fact that trump had to loan his campaign $10 million. is this something you are seeing as people suddenly start to think maybe i can make a

difference? >> yes indeed. mr. trump has committed to putting his resources in this campaign in it for close to $100 million. that doesn't account for all the sacrifices he and his family have made in not pursuing certain business deals since he started running for office. tremendous sacrifice for somebody who doesn't need the money and status and prestige and the power that many people go for when they are running. i think we will be able to compete on the air with paid advertisements in swing states where we have booked the time. we are excited to expand our reach. mr. trump is planning ongoing to new mexico and michigan. we are expanding our map. hillary clinton has to fight against the new fbi investigations and also she is in places like pennsylvania. her husband is in pennsylvania.

she and tim kaine are scheduled to be in pennsylvania on monday which they call a reliably blue state. they are pretty worried about the map. >> kellyanne, you said the reports seem to confirm what voters thought about hillary clinton. it seems as if the opinions of both candidates are pretty locked in. do you think there is time for appreciable number of people to move your way? >> if you look at who the undecided voters are, the hard uncommitted voters tend to be according to our poll they tended to be white men and women without college degrees. they tend to be rural voters and independent. what motivates independents more than draining the swamp in washington? they can't stand either political party. they hate the whole process. they feel like they are outsiders looking in. for independents what fbi director comey did today in sending the letter what he did

is he basically said you have a point. if you are feeling reluctant about voting for hillary clinton because of her ethical challenges and her corrupting practices then you are right. here is evidence of that. and donald trump has weathered every storm. it is unprecedented negative coverage in accusations. here he is standing competitive ahead of her in places like florida and ohio and iowa, competitive with her in the other swing states. and this is a very tough day for her because she is not resilient. she didn't address it at her rally in iowa. she ignored it. >> thank you for calling in. >> thank you. >> donald trump's campaign manager just want to mention the clinton campaign has released a statement from john podesta in which he says fbi director comey should immediately provide the public more information.

>> we just got this statement in a second ago. here is the key. john podesta says it is extraordinary that we see something like this just 11 days out from a presidential election. more here and the reaction to this stunning development from the fbi this afternoon. podesta saying fbi director comey should provide the american public more information contained to the letter he sent. already we have seen kwaurktizations that the fbi is reopening an investigation but the words do not match this characterization saying director comey's letter refers to e-mails and the director notes they may not be significant. podesta going on to say the director owes it to the american people to immediately provide the full details of what he is now examining. we are confident this will not have conclusions different than the one reached in july.

there you have it from the clinton campaign calling for further explanation of what it is examining. they say they are confident there will be no further political damage that the fbi will reach the same conclusion that it reached earlier in the year on this. >> thank you. there is the campaign statement from the clinton administration. 12 minutes to go. dow slightly negative. 200 million to sell on the bell. >> when we come back we will take a look at what was behind the sell off in bio tech and health care today. en a moment s romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache.

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check out bio tech having a down day. if you look at names like amgen, all companies out with earnings. tough numbers on amgen, abbvie. novo for drugs on insulin. earnings also fuelling drug pricing pressure. also feeling the pain. >> worse day in more than 15 years. nine minutes to go. i was wondering for bio tech

might moderate losses. >> it seems like the fundamentals are trumping the politics stuff at least right now in the last half hour. one market veteran says it is times to take profit at home and maybe invest in europe.

steven wood joins us at post nine. >> i think the rate outlook is unchanged. i think the b minus, b grade this quarter blends into the c plus economy that we have had for a number of years. i don't think there is fresh information that came up with gdp data that will come off. >> the u.s. market going side ways for months. you say europe might be a better bet. what is that calculation? >> the valuations are increasingly becoming an issue. looking at europe valuations there. looking abroad multi asset global. where are the pockets of valuation? >> thanks for joining us.

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the snooze. the markets are pricing a clinton victory with the house staying republican. any change to that scenario will effect things. we have come back substantially. gold did spike up. we saw that move. even for gold we came off of the highs there. i think it is interesting time warner received a buy offer from at&t. mr. trump said he would oppose that deal if it came in. there is one stock that absolutely did move on that news. elsewhere meg was talking about bio tech. concerns about heavy regulation from hillary clinton should she come into office. bio tech stocks did rise a little bit. >> the highest level in two weeks but still the threshold i

use is about 20. >> still 1.6% on the month so far. >> worse month since january. >> ringing the bell here party city. and up at the nasdaq quantena communications. second hour of "closing bell" with kelly. thank you, mike. welcome to "closing bell." i'm kelly evans. we have had a wild afternoon on wall street. let's see how stocks are finishing as they react to huge political news over the last couple of hours. the dow is down 7 points to 18,162. looks like it is slightly higher on the week. not the case for s&p and nasdaq turning lower for the week and the session dropping 6.5 points. 25 for the nasdaq. look at that closing level for the s&p 500.

jeff said he would be cautious for the s&p closed twice. this might be the second of those times. the technical damage that was done by the sell off sparked in part by release of new clinton e-mails will have to be digested for everybody in the weeks to come. the fbi investigating the new round of clinton e-mails. a former new york representative anthony weiner. we are 11 days before the election. we will bring you the latest on that story in just a moment. joining me on the panel today michael santoli is back. such a washington theme show. steve grasso is finishing up on the floor in just a moment. some really interesting things here. mentioned closing lebls for the markets. there is bearish news on that today. >> this news storm hit the market at a little bit of a touchy spot.

you mention that the indexes were kind of showing a little heaviness. they have been sagging in a very quiet way for weeks now. it seems as if it might be a situation where accumulation of pressure maybe has excuse to build up. then you did have resilience after the sell off once headlines hit about the fbi. it is not clear that we will be breaking out of the range. but a lot of signs point to a lot more nervousness. >> this morning it seemed like we had the best economic news in some time. 2.9% on gdp number. then people said -- >> the soybeans that are pumping up export numbers. i thought gdp would be big surprise of the day not knowing what news was yet to come. this points to why the fed is very unlikely to move next week when it meets for the november meeting. there is so much uncertainty ahead of the election even

though the fed is unwilling to say there is election risk and political uncertainty they don't want to disrupt. >> in december it is interesting as hillary clinton's odds were going up and everybody was pricing accordingly one thing in there was maybe a rate hike because there was sense of stability and things grinding along. now if we take that off a little bit does the same hold true for a rate hike? >> i think it is very difficult for the fed to point to economic data that could justify them holding on. i thought that would be the challenge for them. what are they going to point to in the economic data outside the realm of politics that would hold them back? we will have to find reason beyond politics in november not to move. i think they will keep the statement very similar and use the same framing for the time being as holding on. >> steve grasso is here now. what do you make of closing action? >> i heard you talking. 2,134 is the old high may 2015

high. the fact that we are below is extremely bearish for me. when you saw the markets slip off those initial head lines the market was just trying to weigh what is new? what is old? same way you guys are doing. i don't think we are going to know anything in the next couple of days and what worries me, i think i heard mike say this earlier, how long this process is going to take. they are not giving you any expectations of how long it is going to be. you might go into that election polling booth not knowing anything more than we know right now. >> that is why the clinton campaign is calling on the fbi to release more information. let's get to eamon javers with the latest on the fbi investigation of newly discovered hillary clinton e-mails. >> i can tell you nbc news confirmed the anthony weiner piece of this story. multiple federal officials saying the clinton e-mails referred by fbi director comey were found as ongoing

investigation into anthony weiner. that is an investigation into anthony weiner's sexting activities. the former new york congressman married to huma abedin, close hillary clinton aid. the "new york times" reported that the investigators had obtained devices as part of the investigation from huma abedin and anthony weiner. we have the statement from the clinton campaign first response coming from the clinton campaign chairman. podesta saying upon completing this investigation more than three months ago fbi director comey declared no reasonable prosecutor would move forward and added it was not even a close call. in the months since donald trump and republican allies have been baselessly second guessing the fbi and browbeating the career officials to revisit their conclusion in a desperate attempt to harm hillary

clinton's presidential campaign. as you said the clinton campaign calling for the fbi director to reveal full details of what they are examining. what that is we don't know but we know it has to do with information found on this device. i can tell you this came up very quickly. the fbi director having to make a decision whether or not to inform congress. he has a motive to want to get this out before the election that they are examining this material because the fbi director will clearly not want anyone to accuse him after the election of having hidden whatever it is the fbi is looking at. so he is making this public by sending this letter to congress which the fbi knew would leak nearly immediately which it did. >> the washington post reporting that the e-mails were found in a computer used by huma abedin and that federal officials had been

investigating anthony weiner's sexual exchanges with a teenage girl. that investigation was opened in september. >> and again as mentioned earlier just sort of strange twist to all of this but perhaps not terribly unsurprising. are you still right there? >> i'm here. >> do we know how many new e-mails there are? >> we don't. the fbi is giving no indication of that. i have asked for a comment. they are not commenting publically. it is not clear that we will know the answer to that or what is in the e-mails before election day. this could take time for investigators to go through forensically and figure out what it is they have access to that they did not have access to before and whether any of that material is relevant to the case. but a lot of speculation here in washington today that comey would not have sent this letter unless he felt it was a significant piece of information to pour over here in order to figure out whether it did -- >> same speculation happening in

the markets here. eamon javers in washington. for more on this and the market impact let's bring in dan clifton. what are you telling clients? >> first is we have to wait and see what this is really about. is it legal risk or election risk. i think those are very different characterizations. if it is something that she did that is a legal risk then you get into questions of can she be replaced on the ballot? a lot of people have voted for her already and that could lead to a lot of uncertainty like what happened in 2000 and put us into a recession when we didn't know who the candidate is. if it is eelection risk what it is telling you is that this race is closer. one or two weeks ago it looked like hillary will be president. this is probably energizing republicans and means republicans probably are going to do better in the house races

and in the senate races. those are things that we can take for certain from this information. we do anticipate that the fbi will be forced to disclose more information because they just threw this out there and could turn out that they are not reopening the investigation, that they are just saying they found new information that needs to be reviewed. there is going to be different degrees when we get that disclosure i expect coming in the next day or two. >> if we might have a little insight on that in the next day or two when are we looking towards benchmarks for whether the race is tightening up? what do you think we need to find out in terms of polling? >> absolutely. so that is a great question because we have already seen rates toigenning up. trump was down 8%. and down by 4.5% today. the key is that the republican voters are starting to come back into the fold.

i think what you start to see is that enthusiasm of republicans will start to get much higher. democrats a little bit lower. those are key things we look at. are independent voters and in particular college educated women starting to turn away from hillary on this news. maybe information in there isn't like anything really bad but like the clintons, the drama, she is untrustworthy and were ready to give her the benefit of the doubt because they weren't ready to pull the trigger for trump. >> it's interesting if we look at the chart of the dow since the news came out you can see this gyrating. i wonder if it is because it prices in a trump presidency which the market doesn't like or does it mean it means a clinton presidency but definitely republican congress. >> i guess consensus was until today it was hillary winning the presidency.

it was the house staying republican. it was the senate flipping to go democrat. now that puts it all in flux right now. but for me there is no way this is the same old e-mail stuff that we saw just a couple of months ago. he would not have risked it to come out with something that was the same. so this has to be something substantive. >> you want to weigh in? >> by the way, if trump is going to win it takes the fed rate increase off the table so there is going to be a balancing act of that. let me address this. if there is new information that becomes available the fbi automatically has to disclose that. if it comes out he knew this and didn't disclose it until after the election heed be in hot water. i think they did a bad job of communicating this. it should have been there are 50 e-mails looked like reopening the investigation. i think that is where uncertainty is coming from. >> you look at the news coverage

from the campaign basically saying please release the information that you do have. we spoke with kellyanne conway. she said we have no more information than you do. not able to add a ton of extra information. there was no way this was something telegraphed by comey. that is early, it's been a couple of hours. >> i was going to say remember early voting has started to take place. some people cast their vote before this information. one thing that has really been interesting about this election season is the extent that the electoral map has been redrawn. so a lot of strategy is to reach over to republicans who have been turned off by trump because of statements made. many republicans are very upset over this e-mail scandal. that could sway those republicans who have been on the

fence about saying do you want to go for hillary clinton? this could change their minds sgrmpt had you have to look at how we know if something is changing here. look at those polls on those swing states. if pennsylvania is not in play for donald trump he has to run the board on a lot of other swing states. watch florida, watch ohio. you have to watch these states to see if there is a switch of energy. >> dan, thanks for joining us. appreciate you guys. we'll let you both go. be sure to stick around. they are talking first of all about the latest on all of these e-mail releases and also peter schiff will be joining them talking about why he thinks a trump victory could be better for the markets. the fbi announcing it is probing new e-mails from hillary clinton. we will talk to two former federal prosecutors about how serious this investigation is and whether it could threaten her future regardless of whether she wins the white house.

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here is a look at the vix. the volatility index spiking towards the end of the session above 17 when there was the release of additional information from fbi director james comey about new e-mails regarding hillary clinton. it came back since then. it was about 16.25 there. latest checks up about 5%. the fbi will investigate whether additional classified information was obtained in the e-mails. we learned the fbi discovered e-mails during investigation into the anthony weiner sexting scandal. republican nominee donald trump weighed in on the news while speaking in new hampshire. >> i have great respect for the fact that the fbi and the department of justice are now willing to have the courage to right the horrible mistake that

they made. this was a grave mischaracter of justice that the american people fully understood. and it is everybody's hope that it is about to be corrected. >> for more let's bring in two former federal prosecutors jeffrey cramer and doug burns. mr. cramer, first to you, the difficult thing is how little we know here. even the clinton campaign asked the fbi to release what it knows. is this something procedural? is it so bad that they had to get this information out there? what is your early read on things? >> i don't think it is so bad that they had to get it out there. i think the reality is that because director comey gave the press conference that he gave earlier he was giving congress a heads up knowing this would get out there that they had the other device or devices and it is relevant to the investigation.

director comey was clear he is not sure if it will be dispositive. he doesn't know if it will change the decision made but he had to come out with as much information as he could in a timely manner especially as people are voting right now. >> do you agree with that that this was about director comey feeling compelled to just update congress which is what this format was that they are looking into potentially something new or do they have to believe that there is something crucial that can change the prior conclusion? >> it is hard to know because as you guys said at the outset we don't really have based on the letter we saw this afternoon, we don't have a firm handle on exactly what the new information is. you have heavy spans of kwar characterizations. is it reopening one that was already closed. this is going to be debated. it is kind of interesting -- excuse me? >> keep going, sir.

>> i think we lost that sound there. >> the washington post is reporting now that the investigation was never officially closed. i'm wondering does it matter the language that we use here if they are reopening it? if it was never closed to begin with? does that make a difference legally as to what hillary clinton could face? >> it doesn't make difference. whether reopened or just a continuation the reality is there is new information and the fbi doesn't know how relevant it is. they are certainly pouring through it now. i think director comey is going to have his people working night and day to get it done as quickly as possible. whether or not it was reopened or just a continueuation doesn't matter. it falls into two buckets. one, whether or not the information on those devices or device is relevant to whether or not she passed any classified or

top secret information and did it intentionally? in other words, not just hit the send button but intended to cause harm to national defense? the courts had interpreted it to be something more. the second bucket is whether or not the new e-mails have an impact upon whether or not secretary clinton lied to the fbi. that would be a separate charge. >> i think we have doug back if you want to pick up on your point. >> i agree with what my colleague is saying but at the same time you can infer intent from circumstances. i'm not editorializing. the reality of this is that one last very important point that goes right to the heart of the distinction between law and politics is all of these calls for you really should immediately disclose the new information that you have. i don't disagree with that politically necessarily but from a law point of view there is no obligation prior to someone being formally charged with a

criminal offense for the government to turn over the investigation. >> that is why people think there might have been some possible leak or might have been as earlier guest suggested mutiny by trial prosecutors based on what had already happened to this point. >> not to be a broken record, law and politics are different discussions. as my colleague will be the first to tell you, 11 days is not a long time in the context of a federal criminal investigation. 18 months goes by, a year, two years routinely. this is really a very, very difficult conundrum here for the bureau to come out and say either we're reopening, resuming. with 11 days the department of justice also has a policy against interfering with ongoing election which makes it more complicated. >> why we are probably going to rely on the news media to find

out what we can barring any further information from the feds. thank you both. reacting to this news. the economy grew at the fastest pace in two years. we will discuss whether hillary clinton can get voters to focus on that stronger economy instead of the latest e-mail controversy. small business is booming in baltimore. before taking his team to state for the first time...

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gdp report this morning was surprisingly good at least in terms of the headline. economy growing beating expectations and up to now the trump campaign has been all about how bad the economy is. his vice presidential running mate mike pence. >> you have to level with the american people. 1% economy is not good enough. and the american people know it. and donald trump has a plan very different from hillary clinton's plan. hillary clinton wants to raise taxes by a trillion dollars. donald trump wants to do what we have done in indiana but especially what ronald reagan did and that is cut taxes across the board for working families, small businesses and family farms. do away with death taxes. lower corporate tax rate in this country to 15%. >> will this new report on the economy have impact on the election given the new news of

the e-mail investigation. founder and ceo of ds economics along with larry kudlow and formal adviser to the trump campaign. larry, so economy, does that message still first and foremost? what happens now? >> what happens now is the wiki leaks story and comey story will drown out everything regarding the economy at least until next friday's jobs report. whether that is right or wrong believe me that is what is going to happen. it is called politics. this is the october surprise. it's just not exactly what folks thought it was going to be. so that is a political bomb. just on the economy i want to note something. i'm sure my long time friend and colleague knows this. about a percentage point of increase in gdp came from this fluky soybeans export thing. i don't know where that came from. i guess it started early in the third quarter. it is the percentage point so

you say 2.9. it is actually 1.9. probably better more scientific smooth it out, look over four quarters. the economy is only 1.5%. so we are still in this rut. that is the way i see it. >> are you in a rut? >> we certainly in a slow growth phase and this will be the weakest year of the expansion since the crisis. larry is correct on that. i think the important issue is that the u.s. economy is slowing at the same time that the global economy slowed. i think we will have close to 2%. fourth quarter nothing to write home about. i think the important issue is that the u.s. is doing it from less turbulent waters than other economies. we have less of a chance of running aground. the real issue is the job situation and whatever the growth picture is. there is this split that we have seen in this election and the difference between overall unemployment rate that gets to

the stress in the u.s. economy running well above 9% almost 2% bebefore precrisis levels. that is the issue we are seeing revealed and the anger and sense of not regaining ground fast enough after the great recession. >> i really think diane makes an important point. maybe ordinary voters don't follow these things. the under employment rate is almost double the official of unemployment rate. the unemployment rate i think is about 5. that is unusual. i think it is an important point. maybe it is an economic point. wages have been slow. i thought mike pence wrapped it down pretty good. it is no secret i helped out on the supply side tax cuts. this is a weird expansion. as slow as it is as diane pointed out it has been heavily weighted towards jobs and rather low paying jobs with wages

rising only 2.5%. this is not a cap x recovery. there has been virtually no capital spending. no investment spending. total business fixed investment is still down 1% year on year. it's been like that for the last four, five, six quarters. we have work to do here. i think corporate tax reform is the answer. >> let me ask you if i can. as an observer in terms of economics is there a clear indication one way or the other as to who has the policies to best help the economy right now? >> i disagree with larry in terms of the trump policies would be the best for the u.s. economy. neither candidate -- i'm an equal opportunity offender and find on both sides of the aisle have offended me with economics. the protectionism that we are seeing that is very bipartisan is concerning.

i get what is going on. it is an easy scapegoat and not the solution. that is where i am concerned about the protectionist policies, you don't renegotiate trade agreements but you could use super 301 executive order to basically levee tariffs on mexico overnight. you could start a trade war with china overnight. these are worrisome issues given what it would do on the manufacturing side that has been hit very hard by a strong dollar and collapse in the oil industry which is one of the few things keeping aflow. >> we have to go. give me the next 11 days in a tweet if you could? >> in a tweet i want to agree with diane on protectionism. she is an old friend. you know i hate that stuff. i do think corporate tax reform is absolutely essential and i have a suspicion that you and i could make amends on that point. >> i'm sure we could. we could make amends on a lot of points that a lot of people

can't in this world today crossing all kinds of things. it is very unpleasant. >> i love your civility. this so-called leak i don't know, wiki leaks. i don't know what comey has. it makes the fbi look really bad. but i think the race is narrowing for two reasons. number one, trump is back on issues, messages whether one agrees or not. he is talking taxes and obama air and mrs. clinton is being absolutely overcome by the wiki leaks memos which really shows self-dealing and corruption. i think that makes for a very tough close race. >> thank you guys for joining us. appreciate it. speaking of economics, the u.s. economy looking a little better with the gdp number in the third quarter. there are a couple other not so traditional indicators that are showing positivity. the association of american railroads published new data for freight rail traffic and shows

waste car loads accelerating. trash can point to expansion and according to ihs people will spend 5.5% more on candy this year than last year. $3.8 billion total. the biggest increase we have seen in a couple of years. >> probably largely pricing which is still okay. >> i checked. >> deflation on candy. >> there is multiplier effect for dentists. they will see increased visits rchlths. >> do you think there is something to waste? >> i don't think anyone has incentive to pay to dispose of garbage. it is something maybe commercial construction. >> there are grass roots sign. time for a news update. >> thank you very much. here is what is happening. scary incident with american airlines flight today. americans saying the plane had

engine issues that caused it to abort a takeoff. smoke and flames visible along with damage. passengers all of them i believe more than 161 were removed safely. iraqi forces stopped moving forward in the bid to retake mosul. they are using time to reposition troops and make sure isis isn't regrouping behind them. an 81-year-old man and a new york firefighter lucky to be alive. jim lee seen in this video pulling james duffy out of a burning building. the rope they were on burned right through just as the hero and the pensioner touched the ground. and it was thursday night lights for california's school for the deaf football team. the eagles beat the fully hearing side woodland christian from sacramento live on national tv last night. their coach says the boys

communicate via hand gestures to make up for the fact that they can't hear the ref's whistle when it blows. inspiring team. that's the cnbc news update. back to you. >> bill acman is the second largest shareholder of chipotle. sources tell cnbc the restaurant chain is mounting defense team against the investor. we have the details next. we hear from one small business owner who says the vast amounts of count erfeit products on amazon are on the verge of putting him out of business. ♪

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(hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. welcome back. here is a look at how they finished on s&p. closed at 2,126. a lot of people on the floor watching 2130, 2134 level seeing it as perhaps a sign of weakness. a third of a percent drop for the broad index today. chipotle shares traded lower by about 10% after disappointing quarterly results. it is not just weak same store sales. >> 95% year over year drop in profits would be enough to make any investor shutter.

in that third quarter call commentators noted that chipotle executives talked about moving away from historic priorities and talking about speed of service. all perhaps in a response to the company's issues with food borne illnesses linked to restaurants. some changes may be stemming from recent involvement of bill acman who announced a nearly 10% stake early in september. a position that cost him about $1.2 billion to put on at that time. acman called the stock under valued and promptly fell more than 9% afterwards as if to under score his point. he has had a series of conversations with the company management described as productive and there is optimism there it seems that he and the company will compromise on some changes he has in mind which appear to include a possible board makeover and new marketing strategies. the company it would seem is on its guard. overnight news emerged that chipotle hired a team of activist defense specialists and

high powered lawyers to advise it. chipotle did not return my calls for comment. two people familiar with the matter confirmed that today. i think it is happening. i think it happened a few weengs ago as they ramped up discussions. >> a little surprise that they are so worried about what he might be proposing. >> so not unusual for a company that maybe smells an activist in the area to hire advisers. one of your largest share holders, a dialogue is probably inevitable. it is not as though you can shut somebody out splmpt dw they said at the time right around labor day they welcome the dialogue. it started off in a courteous vein. acman has been low profile about this. now, the activism play book would be given a bit of time and then go public to try to force the company to taking action that you want to see. so maybe we are not there yet.

he is one to publicize his ideas and try to use the court of public opinion to influence people. >> this is competence when it comes to food companies. he has been in all sorts of different types of things. other than maybe a marketing campaign are we just talking about the board trying to prevent a shakeup? >> he does want to see board refreshment. i think there is a desire for new board members, probably independent board members in terms of ceo it sounds like they sounded a supportive note in terms of steve ellis. and marketing kind of the locally sourced foods i can imagine that being a point of discussion. remember he is familiar with quick service restaurants. he has been in a number of burger chains. it is a very different from chipotle although in some ways the two schools of thought are coming together. you have mcdonald's looking for cage free eggs and maybe there is a middle ground.

>> it is not huge anymore. you can say take on a bunch of debt. he is not doing that. there are financial avenues. >> they are engaged in a buyback. changing fee model something reuters reported but we confirmed they are doing something interesting given that they are down 21% year to date what they are doing starting january 1 is introducing a new share class where there is no performance fee but if it is above that the fee is 30%. >> that gives them a strong incentive to get chipotle right. >> among other things. it's not just alibaba that has a counterfeit goods problem. amazon is experiencing a proliferation of knock offs. we will talk to one business owner who is on the brink of collapse due to fakes selling faster than his real deal product. kevin plank as a soft spot for baltimore. how the ceo is working to build small business in charm city.

you are watching cnbc, first in business world wide.

amazon stock still up more than 25% over the past year despite the recent success small business vendors are struggling because of competing sellers listing counterfeit products. recently highlighted a company that makes straps which help people move heavy objects.

the company has been hurt by amazon counter f erfeitercounte amazon responded by saying they have zero tolerance for the sale of counterfeits and joining us is the founder of forearm fork lift, a very cool product. >> so we mentioned this has hit the business but at what point do we see a decline? >> in about the summer of 2015. what happened then? >> i believe about that time amazon became most valuable business in the united states and so many of the retailers just flat out started almost giving up. >> so these days it is about

$19. imitators are about $4, $6, $7? i can't compete. >> mark, my question to you is what is happening here to you that you feel is different from the fashion industry experiences. fashion designers often say you can walk into forever 21 and find a knock off for a fraction of the price. what do you feel is different about what is happening to your business? >> when i was first approached by amazon in 2010 about competing with prices they were finding elsewhere on the internet i wanted to investigate. in my investigation with my co workers we found out that the straps were knock offs. the knock offs can price much

lower than we can because they don't pay for the registered trademark name nor the patent application nor maintenance fees, the folks in asia don't pay workers compensation. it's very tough to compete. by the way, even if they say they have commercial general liability insurance it is impossible to cover a claim if you have fraudulent products. unfortunately good people who are spending their hard earned money on something they believe they are getting as a real deal are getting knockoffs. i can tell you the difference between the knock offs but showing you does a lot more. when you look at a knock off you are talking about a cheap thin str strap. we make these with care because we know people move these every day. >> it's not a good idea.

>> are they going by the name forearm fork lift or a similar name? >> many of them are going by the same exact name. so as we were reporting them some figured out we will call them pdx 3, moving rope. they are using our pictures and our registered trademark name. we have reported to amazon more than 100 times formally. they are not doing anything about it. in fact, last week we gave last excel spreadsheet. it had 64 unauthorized. we are talking about under each five to maybe a few dozen counterfeiters. we only had six good. so that means your chance of getting a safe strap is little to none. when you are carrying a heavy item the last thing you want to-do is have the straps break. these straps are not lock stitched. they are not durability and in

many cases we are finding the stitching sewn with cotton. cotton is comfortable on your body but not a durable material, not a durable thread. when you need the straps to work best they could fail. exactly happened. and by the way, are you going to be able to stay in business? >> i'm going to try my hardest. i did my best for years and years, but -- >> yeah. >> it's tough. >> appreciate you sharing your story. from forearm forklift. the one and only, we should add. thank you. one of the leaders in the retail business has been under a armour ceo plank. some of the most underserved parts of the state. we'll be right back. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities.

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welcome back. kevin plank built his company in maryland and now is extending it to the city of baltimore where kate rogers is, and she has the story. kate. >> reporter: hey there, kelly. that's right. plank's investment company, plank industries, has taken on a massive $4 billion-plus redevelopment project in the port covington area of baltimore that's going to take about two decades to complete. city garage is part of that and already opened its doors with tools and a makers base for entrepreneurs who want to create products right here in baltimore from whiskey to state boards. it's also got a testing and research facility for under armour onsite. the message here, entrepreneurs have the ability to elevate this city from the ground up. >> one thing we often say, jobs are great, careers are better, ownership is best. and if we can build a place that has a culture around

entrepreneurship, small businesses and general opportunity, we think that's an economic boost at a time when it's really needed. >> the hope here is that this highly visible project will not only create jobs, housing and retail, but also give young companies an opportunity and chance and the resources, of course, to make great products right here in america. kelly, back to you. >> kate, i wonder how much do they need, the mere fact look what kevin plank has done and you can do it too. >> i mean, absolutely. he is local inspiration, local ledge end, honestly like a rock star to baltimore. what's really cool, a lot of companies they're bringing into the city garage space, there's 10 to 212 companies, they have acquired those companies and spent $10 million already on just that piece alone. like we said, this is going to be $4 billion, plus. it's going to take two decades to complete and create tens of thousands of jobs. some permanent and some construction and they'll be temporary. it's certainly, as they said, an economic boost for this city at

a time when it's really needed. >> and some future businesses for under armour, too, perhaps. thank you, kate. right in the wind there in baltimore. next week is another big one for earnings and we also get that final jobs report before the election. we'll tell you what to expect, next. sing girl, come on. ♪[ singing ]♪ sorry, ariana you gotta go. seriously? verizon limits me and i gotta get home. you're gonna choose navigation over me? maps get up here. umm... that way. girl! you better get on t-mobile! why pay more for data limits? introducing t-mobile one, unlimited data for everyone. get four lines just $35 a month. the strikingly-designed lexus nx turbo and hybrid.

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welcome back. next week was already going to be a busy one. we've got more earnings on deck, including from facebook, go pro and starbucks. the october jobs report due out friday morning, the last week before the election and an especially interesting one. >> monday is the end of the month and end of the quarter. it could be noisy. to me, i think the earnings for the big companies is pretty much baked in. individual situations are going to move a lot. in general, it's bottoming, it's turning. that's not going to be much. i do think the jobs number is going to matter if it's an outlier. otherwise, i feel as if it's just kind of -- tells you what you know. >> matter for what? i don't know if it's going to matter in terms of what happens to the fed and whether or not rates hike in december. i don't think it's going to matter for the presidential election. i think it will be too late. sort of the feeling that people have about the economy have

already been ingrained and baked in what they go to the polls on november 8th. >> two interesting things that changed the narrative coming into the day. coming into the day, it was about inflation expectations, especially in the uk. bond yields moving higher. we talked about some of the indicators that are in signs of strength. headline okay, details not that great and then the clinton emplt mails. and oil selloff. a triple whammy. >> i do think there is a general sense that people are retreating a little bit from either big ticket purchases, from vesting in the stock market. cash piling up. the question to me, is this a little lull and people are preoccupied with the election, waiting for it to pass or something we're softening up again in terms of the economy. >> you know, i actually just got some e-mails after the clinton -- new clinton e-mail news broke, saying that, you know, is my congresswoman still going to stand by hillary clinton. i live in a very tightly contested district. you can already see some of the

pressure being ramped up now in these last few days. >> it's an interesting week and weekend for everybody. to pay attention to what's happening with those developments. guys, thank you for joining us on "closing bell." have a good weekend, everybody. that does it for "closing bell" and "fast money" begins now. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. tim seymour, brian kelly, steven grasso and guy adami. one of our traders is praying for a big breakout. what has him so bullish. and a new kind of sports fan taking the world by storm. gamers. we'll take you inside one of the biggest sports events in a special "fast money" report. and later, health care stocks getting taken to the wood shed down more than 2%. but there is one drug stock that one of our traders says is so bad, it is actually good. he'll explain. but