we are getting ready to hear the closing bell sound on wall street after what was another wild and volatile day. here we go, here's a look where we are ending the day as the bells ring on wall street. better than 300 points for a while in the 3:00 hour, looks like we weren't going to make it into positive territory. there we go. >> up to 369, almost 370 to the upside. the biggest two-day point gain in the history of the dow jones industrial average back to back after yesterday's gains as well. >> ending up 2.4%. the nasdaq up 2.4%. larry levin of trading advantage is standing by at cme watching oil futures. gerri willis has the biggest stock movers. ashley webster for more on today's last minute rally. >> interesting, we were up around 300 points much of the session and mid to late afternoon we lost a lot of steam all the way down under

100 points and the horrible sense, uh-oh, could we finish in the red today? no, the buying picked up and finished up some 370 points, from the beginning of trading yesterday, the dow has gained back almost a thousand points and on the back of oil, oil up nearly 10% today, that gave a huge boost to the oil sector and especially the oil services sector. the last time i checked on halliburton, that stock gained 10% today, among the other movers, chevron, exxon, conoco-phillips picking up three, four or five percent. whether that means there's a short covering in oil, whether it was due for a bounce or picking up on the equities moving higher, no one knows but certainly led the way today, guys. >> thank you so much for that. the large intra-day swings are dramatic and remarkable. gerri is looking at the individual stocks moving all over the place.

>> tesla up nearly 8%. ashley was talking about this in the last hour. they got a great, gushing review from consumer reports for the all-wheel electric drive sedan, gushing. in fact, they broke the testing meter scoring 103 on a scale of 100. so they did really, really well. they're on fire. you got to think it's the fact that oil prices are rising today has a lot to do with it as well. another story not getting a lot of attention you might find interesting. tiffany reporting going down because of the strong dollar, they're having trouble with sales particularly in the u.s., 40% of sales at that company's manhattan flagship is from international buyers. when the dollar is strong, it makes it difficult to buy. tiffany shares down. another jewelry retailer, signet is on fire, up 13%. big positive score in reporting

today. kudos for solid execution from the analysts. same-store sales up 8.4%. they bought zales, middle market, all-american jewelry retailer and they are licking their chops today, having a great day. apple shares up a little bit as people think their watch sales were a little better than everybody thought. that's good news as well. boy, what a roller-coaster ride today. you didn't even have to go to one of the big parks to enjoy it. you just sit at home and watch the tv set. >> it was fun to watch especially with the ending we had. good story stocks as well. melissa. >> oil surging more than 10% for biggest gain in six years. let's go to trader larry levin at the cme for more on this one. lot of people said this has to do with venezuela asking for an emergency meeting out of opec. i don't know, that's not good enough for a 10% move?

>> it is the biggest move, one day move since 2009. it was a big move. the venezuela story had something to do with it. so many shorts in the market, that's what it is. so many sellers. lot of viewers want to be short oil. lot of people down here want to be short oil. so much of that is built up. it doesn't normally take a rumor like venezuela trading in the middle of the range, 50, $60. that's not a big deal. >> what for tomorrow? >> i would put a stop in at $45, and wouldn't be surprised over the next week or so we come back down to 38. keeping an eye on whether if there is an emergency opec meeting, you want to be out right away. that is for sure. >> very interesting and telling, larry, thank you so much. >> the federal reserve's annual retreat barely under way. the headlines are coming out. melissa mentioned this.

important stuff that peter barnes is covering at jackson hole and the kansas city fed president speaking with her earlier. peter, changing her tune or what? >> sounds like it, a longtime hawk on getting rate increases going here, called as recently as the july fed meeting. with the market volatility, while the september meeting is on the table for a possible rate hike, she wants to wait and see how this might impact the economy and impact the data. echoing the comments of new york fed bill dudley yesterday. >> i thought the data was moving in the right direction some months ago. i felt like the economy could take the process of normalizing. given what we've seen recently, i think we have to wait and

see. i don't want to take too much signal from something that could turn out to be noise. i don't want to overreact to short-term data that may not in the long-term really turn out to be significant for that kind of a decision. >> reporter: and for the second time, for the second fed meeting in a row, we have protesters here, activists here from a group called fed up, and they want to -- want the fed to wait on raising interest rates. a lot of these folks are minimum wage workers. people without jobs. people from lower incomes and they say increasing interest rates now would equal lower wages and fewer jobs. connell, back to you. >> peter, thanks, give me a lot to talk about. out in jackson hole. with the second straight day of gains for stocks, is it safe to say the worst is over? chad is at washington crossings

advisers and lindsey senior at s&p capital. why do you think we see the volatile swings during the day. what does it tell you about the strength of the market? >> there's a tremendous amount of uncertainty within the market, and the backdrop is global growth has been decelerating. started in china but the major concern is the emerging markets, and many of the countries in latin america. over the next 12 months, the market will be higher, rather investors want to be balanced at this point? >> what do the markets tell you? when you see it evaporate and come back that quickly, what does it tell you? >> today was a positive move to see the market react to the good gdp number. the jobless claims. we've seen a lot of good economic data this week and since the july fed meeting going into the third quarter.

i think this reminds investors while overseas and global economy might be slowing week have a good thing in the u.s. >> chad, do you agree with that? i heard people saying the next one in the third quarter is going to be a wipeout. >> i believe that lindsey is correct. that the u.s. gdp number will come in over 2%, 2-3%, and jobs growth has been doing quite well. this concern within the market is not u.s.centric, this is global growth-centric and in particular the emerging markets. you have seen credit default swaps widen out for the emerging market, selling pressure come in within the commodities market. our expectation is that commodities continue to fall, that you may see a 5-10% downside within the market. overall, over the course of the next 12-18 months we'll be higher. this type of volatility will be with us for a while as you see this uncertainty unfold.

>> i think what we saw happen too over the past few days or week is a resetting of valuations for the s&p 500. it was approaching 18 times on the next 12 month basis, now back to 16 times, the historical 15 year average. >> do you think we've put in the bottom this wasn't a reaction to fed. it was a refed? we put in a bottom? >> i don't know the reaction to that. we're comfortable to where the market is trading now. like you said, there is a lot more volatility especially as the market digests the potential rate hike. >> hang on a second, over to connell. we have breaking news. >> we have a little breaking news, carl icahn reporting a stake in freeport mcmoran saying that the shares are undervalued. mr. icahn. so the stock as you expect, after-hours surging on the news. and icahn intends to have discussions at freeport mcmoran management.

8.5% stake, and freeport mcmoran is a mover after-hours. we'll continue to talk about the things, we have our panel with us, peter is on the panel, university of maryland aaron moran joining in along with chad and lindsey have already been with us. we could talk about the freeport mcmoran thing, i'm sure you want to jump in on the things chad and lindsey have been talking about in terms of economic growth. what we've seen in the market, and both of them saying problems that we're having economically are not u.s.-centric, global growth problems. your view on that in the united states in terms of the economy. >> what we're going through is an adjustment in the economy. the united states is going to grow more rapidly. that means a change in the structure of valuations away from resources and more towards

technology in the like that. creates a lot of uncertainty for the market. it knows the economy is solid but doesn't know where the opportunities are. you'll see ups and downs. fundamentally the economy is much stronger today than two or three years ago and other part of global economy that people can read that is transparent, that has reliable information and data, the united states is where the strength is. that has to bode well for stocks globally over the next 18 months. >> that's three for three in agreement in terms of where we are in the u.s. economy. jim moran, your take on the markets, the intra-day chart, the nasdaq and the s&p look the same with the wild rally into the close. there have been very, very big intra-day swings lately. the message is what? >> first of all, nice to see green today. >> yes. >> and technology is certainly a safe haven here, and you know the innovation side of the

economy is certainly holding up. that's where we're focused. you look at market volatility has clearly been crazy, but when you look at technology companies, the companies leading the economy, they've been holding up quite well, and that's really where we're focused. >> eric schiffer with us as well. what about the valuation of some of these companies? there's been an argument this week in terms of is the market, is it an expensive level? is it a point now as we see the shootup where we should be buying and it's going to be long-term, what's your take on valuation? >> i think they're ridiculously high. i think they've been high because of the fed. we've got the fed that cand safety market, no longer going to prop things up. i think you'll see a big repricing. that's what we saw the other day. thing is a blip. i think we're headed down. i do think there will be a further repricing and it is going to get painful. >> that's the argument, right?

and back to chad and lindsey with us in the studio. is it a blip? or are we stabilizing for another move up? there are optimists, brian wesbury and the network saying we could gain 15-20% by the end of the year. definitely two sides to this, where do you stand? >> i wouldn't be that bullish about the overall market. we're fairly valued at p-multiple at 15 times. margins on the s&p 500 are elevated and coming down. earnings growth on the s&p 500 is somewhat muted as well, and future forecasted returns that we have basically for 5% total return on an annual basis. we're advising investors to move up the quality spectrum. be pragmatic about asset allocation that you have, and to basically watch out because there's going to be a tremendous amount of volatility over the next several months. >> fairly valued at best is not as dramatic as we heard a

moment ago, ridiculously overvalued. where do you sit on the expensive-nonexpensive overvaluation of the market? >> 16 times on a forward basis which is in line with the average. i think you'll see a lot of volatility here and the market has really struggled when it's gotten over 17 times, a fair value for the market is anywhere between 15-17 times until we get more clarity on a lot of these issues like what the fed is going to do. we need to see corporate earnings growth above 3% where we're at right now. for the next 12 months, and so that puts you at between 1835 and 2075. >> again, better as we heard to see the green than the red with the wild swings. thanks to everybody. we'll be back to you. melissa, back to you. >> breaking news, carl icahn reporting a stake in freeport mcmoran, the stock is soaring on the news.

back to ashley webster with the details. >> looking at the latest price on freeport, up 28% now. he announced he's taking an 8.5% stake in freeport mcmoran. believes the shares are undervalued. he hasn't had discussions with the company as of august 26. he says he may also look to get representation to freeport mcmoran's board, and may seek shareholder board representation and to discuss the size and composition of the board. making a big move on the company, announcing close to 8.5% stake in the company, and believes this is a very undervalued company. that is having a huge impact on the share price. >> it has been the ultimate he said/she said showdown. donald trump announcing that longtime scott walker supporter

anthony scaramucci was jumping ship and moving into the trump campaign. something the skybridge capital managing director said never happened. have they kissed and made up? charlie gasparino has the exclusive scoop, charlie? >> the fbn version of peyton place, it's reality tv in our little world which is funny, but this is real news as far as i'm concerned. sources are telling the fox business network that, yes today, the mooch and the trump have kissed and made up. that they are now friends, they had a friendly telephone call, reconciled differences over a telephone call today and mr. scaramucci invited mr. trump to attend a fund-raiser and sit at his table along with woody johnson, the owner of the jets, jeb bush's finance chief.

it's interesting how our own mooch, anthony scaramucci, exile from cnbc like you and i is a kin maker in the republican party. but he did have this nice phone call with donald today. they have kissed and made up. sources tell fox business, we have not independently confirmed this with either man, i have very good sources, i understand everything is peachy. remember donald attacked mooch yesterday during the press conference when he said point-blank, hey, he's a hedge fund manager, he wants to work with me, he wants to jump ship. and mooch said what he said that donald is not telling the truth, he never wanted to jump ship from scott walker who he's raising money for, he had a nice conversation with donald. what i understand is now these guys are friends again. i'm not sure who called who, i have a feeling it was donald who called him. i have to confirm that. sources are unavailable to

confirm that aspect of this riveting investigative report that i'm giving here. from what i understand they are all hunky-dory. if donald goes to the charity event, i think next week, charity for lupus, woody johnson is going to be there, bush senior finance official for the bush campaign, owner of the jets. if donald comes there, it will be interesting, donald, mooch and probably woody johnson and probably me, i might be there as well. >> i don't want to picture donald and mooch smooching. >> we'll see, we'll see. >> this is huge news. investigative reporting at its best. >> no doubt. all right, stay on the story. >> the markets are up because of the story. >> charlie gasparino, thank you so much. connell? >> a different alert, smith & wesson with first quarter results. how are we doing? >> not bad.

on earnings per share adjusted 32 cents, the estimate for 22 cents. on the revenue side, the estimate for 142.76 million. that came in at 147.8. beat on the top and bottom. the stock is up 71% year to date and moving higher in after-hours trade. good numbers from smith & wesson. >> we'll take a look at numbers. see that? we're all over everything, scaramucci and trump, wall street, and everything else. >> new opposition to the iran deal to talk about former military officials warning that the agreement will give tehran more power. >> and a tragedy in virginia. the families of the two journalists murdered on live television are speaking out. that's next.

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liberty mutual insurance. . >> officials in virginia still trying answer key questions one day after the horrific murder of a reporter and cameraman on live television. former co-workers of the gunman describe him as angry with a history of aggressive behavior. joining me fox news's rick leventhal outside the tv station in roanoke, rick? >> reporter: the general manager of the station just came out and said it's going to take time for us to heal. entire staff at wdbj-7 mourning the loss of alison parker and adam ward gunned down during a live shot at 6:45 a.m. yesterday. the station suspended doing live shots outside the perimeter of the property. they will evaluate this how to

move forward. no more live shots because of yesterday's tragedy. last night i had a chance to speak with the father of alison and also her boyfriend chris hirsch who remembered alison as a phenomenal journalist with limitless energy and called her absolute perfection. >> she and i dated for nine months only but the best nine months of both of our lives. we moved in together at the beginning of august with a plan to save for a house and save for a ring. we were betrothed to each other, we were not officially fiance but that's where we wanted to go. earlier this summer, my family got to meet her. we had dinner and played golf right here. >> chris says a scholarship fund is set up in alison's honor at james madison university, her alma mater. >> her father has a new mission in life, is that right? >> andy parker absolutely

devastated, as you can imagine, having lost his shining star, as he put it. he doesn't want alison's death to be in vain. he has a new mission to make mentally unstable people like vester lee flanagan to buying guns. >> better background checks and closing the loopholes. >> reporter: andy and chris say they're comforted knowing alison spent last weekend in north carolina doing what she loved to do best, kayaking and rafting, she was the happiest they'd ever seen her. >> rick, thank you, connell? >> back to the markets here for a moment. we've been talking about this day on wall street with the market movers, in terms of particularly sectors or areas of the market that we're going to talk about. you can choose to believe me or not.

before we had this carl icahn news, we were going to talk about the metals and the mining stocks. that makes us look like geniuses today. this is the proof. featured stocks, see? how would they be in there. we didn't know that. newmont mining with the 5% gain. freeport mcmoran on the carl icahn news we already talked about this hour. ashley was quoting it at 11.70, whatever it was. some of these stocks have been among the worst performers as a group so far this year. after what we've seen over the last week, you have a lot of the bargain-hunters out there looking for bargains and maybe they found them in the metals and the mining stocks. overall the 369 to the upside, that gives you a two-day-point gain, the best we've seen. if you look at sectors, everything was up. people have been highlighting

the stocks and looking at it percentagewise, three, six, five, bigtime gains for many of the stocks. small business confidence in the economy is sinking. why is that happening? we will have the panel weigh in on it coming up. >> tropical storm erika is coming. we are closely monitoring it. a live report from the weather center. that's coming up.

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. >> you are making money if you're a bull in the market, the dow closing up almost 360 points, liz claman is standing on the floor of the new york stock exchange. liz, he was questioning the rally yesterday, what does he say now? >> i know. can you believe this guy yesterday who said he's disappointed with the gains we had yesterday. but today are you disappointed that we didn't see a sell on the rally? people did not sell and say okay. this is a nice gain, i'm getting out because it will get ugly again. >> well, they sold on the first rally. and we had another rally. and then we have -- i don't know what you call this. >> we go to this. i mean an interesting day certainly. >> i won't express any disappointment today if that's what you're asking me. >> okay. >> but i am mazed at how fast these markets move, how volatile it is, we're going to see this for quite sometime, who knows if it will get greater tomorrow or next week. >> so teach our viewers to win

when these markets are shifting and moving and gyrating as quickly as they are. the market on system watch.com is so fast. a roller coaster ride. >> yeah. you can have a heart attack. you can't -- you can't beat the computers with the speed. so the guy at home shouldn't even try that all right? what you have to do is put your protection in place when you put your position in in the beginning. >> uh-huh. >> you have to put both sides in in the beginning. >> uh-huh. >> this way it decreases your chance really getting hurt. >> right. when you trade on tv, measure trade, or schwab, you can make sure that you're out, but if it moves this quickly, you hit the floor. >> you have to play against the equities market against president market. you have to put that position against your long position. >> okay. final tomorrow friday, what happens? >> i think they're going to let us go home on friday night. >> that's as far as you'll go. connell and melissa, he's a smart guy. we have to wait until 3:01 p.m. for that final hour

and 3:59 eastern. >> i know you get all the action there in the last hour, liz, thank you so much. >> we go to our panel now and bring it to the reaction with chad, lindsey, peter, jim, and eric. and what about the this idea of the big swings being here to stay? i know there's almost one more day left in the week, but that calendar looks weird, 3- 400 points, is that true that this type of -- these types of wild swings are here to stay? >> so i believe this has been somewhat of a fed induced rally. investors have been taken their cue from the federal reserve going into the jackson hold meeting of next week. >> right. >> obviously the message has been doveish, this rally could hold for several weeks, the fundamentals are growth is decelerating. china has absolutely recognized that they will accept a lower gdp growth rate. that is having a feedback into the emerging markets. >> right. >> hence the reason why commodity prices will continue to drift lower and the markets

could potentially go down an additional 5- 10%. >> but there's no drifting in this market the way it has been going. do we put another calendar on the 2/8, lindsey, is that the type of environment we stay in for a while or. >> i think it certainly can be volatile for quite a while. >> okay. >> i know based on some of the technicians i've spoke with, 1995 to 2110 is the very -- is the level of resistants that the market could hit and then come back down. >> right. >> the good news is, though, our research at s&p capital iq has shown that any time we've been in a correction mode between 10 and 20% on the downside, once we hit the bottom, it only takes about four months to break even again. >> and who knows in this environment. >> and effectively, that's what happened during the asian invasion in '98. it ran down 10% and came back even. >> this is similar to '98, '93. >> but let's go over.

22 on the upside in the next 12 to 18 months. we believe 1,700 for the downside for the s&p 500. >> okay. >> we get more bullish as the market gets lower. >> fair enough. i want to go to the second topic with our panel because it plays into what chad was talking about a minute ago in terms of the economy and how people see it. so there's this survey that was done on small business confidence in the wall street journal and only 42% of the businesses that were surveyed said that the economic conditions were better than a year ago. so they're not very confident in the economy. in fact, that number's down from where it was. however, when you asked them, peter, about their own business generally speaking they go, yeah, i'm doing all right in my own business. does that make sense to you. >> yeah. and i think that's a better indicator. this is the global economy and the u.s. economy. for one thing peeks are fixated on gdp and why that never to perform like we expect it to in a recovery. and the answer is fixed investment willrch again. there's so much more, for the

last 15 years there's been more software and automobile than steel. what tel it tesla did today, that was hardly done on machinery, it was done on computer screens. it takes time for markets to absorb that, and it also takes time for the market to find where the values are. there's a fundamental shift taking place between where the capital used to be and where it is going. that's going to give you a lot of volatility. >> yeah. that -- actually. >> and if i could add to that for a moment. >> go ahead. >> great. if i could add to that -- if people took a longer term view and instead of renting stocks, started looking out a little bit further, particularly in the technology and innovation side of the economy. there are amazing things going on here. >> there are. >> the reason why every big tech company that you know has been started pretty much here. and we have the platform, we have the people, we have the infrastructure, it's -- we have the educational system. this is the place to innovate

and to grow companies and if folks -- you know, who are looking to invest and look over a longer term horizon will look at tech companies that are growing top line, growing their margins in disgusting marketplaces, it's a tremendous place to be, and it will also help you sleep at night and as someone said earlier, it will allow you to go home at 5:00 on friday if you have a longer view. >> that's reassuring i think. >> what do you mean? sleep. >> and not every tech company is a tech company. for example, the ford motor company is betting big times on technology. >> yeah. they have been for a while. >> as he does in detroit, the consumer product show and all of that. you know, it's happening. >> i'm sure tesla says they're a tech company as opposed to -- >> i call tesla a tech company. >> yeah. i'm sure they consider themselves a tech company. we've got to run for a while we've got plenty more and we'll get more on the panel to talk about these big issues that coming up. melissa. >> tropical storm erica hitting the caribbean island

hard bringing in massive rain and flooding. the storm is expected to gain strength as it barrels north this weekend. florida's governor rick scott alerting his state to the potential impact. >> we're going to prepare for the -- hope for the best, prepare for the worst but get ready. make sure you have three days of food, water, make sure you have your medicine. think about each and every family member. >> fox news chief meteorologist rick is standing by in the weather center with the latest on erica's path. rick, i'm supposed to head to the bahamas on saturday. >> really? >> yeah. >> sorry. don't go. i hate to tell you. i wouldn't go. i don't even know that your flight would get there. it's going to be a rough one. so bad for you. you know, florida hasn't been hit by a hurricane in around 10 years, and we could be dealing with that by the time we get towards monday. currently it's 45-mile an hour storm across the islands, and we've got a 45-hour window here where there's a lot of things going against the storm.

a lot of dry air around here, and mountains potentially that its got to get over and that usually rips storms apart. so that about 48 hours from now, we have a much better idea of exactly what we're going to be looking at from the storm. 12 inches of rain in dominica and it's been in these waters that are low to mid-80s. on but we'll see if it survives the time in the islands and gets out here to the brahms water temperatures are in the upper 80s and lower 90s in some cases, we could see very rapid strengthening of the storm. and take a look at this. the bahamas right here, saturday into sunday completely under the gun and take a look at this. florida, we're talking about potential of a category 1 hurricane at this point. maybe monday time. we could be talk about and the carolinas tuesday, wednesday potentially for this as well. >> i don't like that. you know, i'm going to root for the mountains. the mountains were the ones that could break up the storm. i'm going to root for the mountains. >> you are absolutely right. >> all right, rick, thank you i guess. i don't know.

try again. go back to the models. >> you might end up in the mountains, it might be your alternative. >> what a comedian this guy is; right? very funny. >> i'll be here tomorrow. for example, new details on the race the 2016 -- there he is. the gop -- mind if i put my glasses on? gop front runner, donald trump, he's doubled his lead in some of the polls. which is crazy. so -- i don't know. and how about this? cocktails on aisle three. target's new buzz -- >> get it? buzz? >> worth the cheers. coming up.

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. >> we're back with the news alert. new opposition here to the iranian deal to talk about. a group of nearly 200 retired general admirals urging lawmakers to reject the agreement, saying the deal will enable iran to become far more dangerous and lead to instability in the region. listen. >> donald trump leading the gop once again.

a grand new poll out. the billionaire mogul leading 28%, up from 20% last month. and all the while pulling better than clinton and all americans. and freedom watch president, we also have betsy, politics reporter at the daily beast. betsy, i'll start with you. are you surprised that donald trump has pulled even further ahead? >> you know, at this point nothing that happens involving donald trump surprises me. i've been so surprised. i've been nonstop surprised, he's pulling ahead and anything can happen. today he let a woman from the audience play with his hair to show that it was real. that doesn't surprise me anymore. this is the race that we're following. every day is exceeding. >> brad, how about you? >> again, i have to scratch my head too. i've never seen anything else. i don't think anybody has, but it's also an entitlement of where we are politically in our country. our country is starving for people to actually speak up

and say something. but more importantly do something about the problems. and donald trump has been great at identifying the problems. he hasn't been too solid on how he's going to solve them. and right now we're in a popularity contest, and he's going to have to turn his popularity into votes and that's real work comes. >> popularity contest, he's not someone who has been wildly popular in the past. the word that most people use to describe him is arrogant. so it's more about popularity, it's about outrage and being sick of what's going on in this country. betsy, let's turn to the democratic side for a second. hillary clinton really struggling. what do you think happens on that side? >> it's not pretty. her unfavorable nationally according to the latest poll, her favorables are 39%, which means almost two-thirds of voters have an unfavorable view of hillary clinton. meanwhile among democratic primary voters, biden has more favorability than hillary

does. on that front, he's beating her already and he's not even trying. so, look, things aren't very pretty right now. >> sometimes that's when you do the best, though, is before you get race; right? brad? >> yeah. your best day is the day you don't announce and then the day you announce joe biden is going to be joined at the hip with president obama. he's been his vice president, and he's going to have to answer for those acts that he was involved in, joe biden and that much the president was involved in. you know, good and bad, it's all going to come down to biden. >> yeah. >> and having said that, the democrats will rule the day that they put all the eggs in hillary's bask because she's not doing well and it's only going to get worse. >> when you look at the lead that donald trump is taking, just being out 28%, the nearest closest competitor ben carson at 12 and then jeb bush, marco rubio, and ted cruz all the way down at 7. how do those people close the gap now? >> actually it's going to be fairly easy to close the

gap -- >> really? >> yeah, 2013 is the year of the outsider but the 2015 is the year of the insider. those people who have experience in politics. and, again, donald trump needs to turn his popularity into organization and get out the vote. because that's what primaries and caucuses are. it's about getting people to the polls. >> betsy, it seems, though, experience and politics like what brad just said is exactly what voters do not want. >> absolutely. that's what all the poll numbers show. the fact that ben carson is coming in second after trump and has the same level of nonexperience that trump has. >> right. >> that's a big deal. look at bernie sanders who is polling very well comparatively among democrats. he hasn't been an executive, he hasn't been a governor. he's been in the senate, he has some experience but not one of the faces of the democratic party. he's always positioned himself as this hippie old guy from vermont, and it's working out for him. so, you know, it's possible that people will change their ways and love insiders next

year but at this point i don't see a strong indicator that that's going to happen. >> hippie old guys did, i think that's his bumper sticker. thanks, guys. >> back to a stock alert on amazon for a moment. amazon is actually cutting jobs in its consumer electronic division. first time its done that, the department has been around for 11 years. same division, by the way, that produced amazon fire phone, which didn't work out so well. investors taking this and, well, actually liking it. it often happens, unfortunately, for people when they lose their job, the stock price of the company that cuts their job, many times goes up. diedre all over it and joins us right now. >> hi, connell, you said it. the flip phone fire phone didn't work out at all, so the lab, the engineers where people were working on them, there's about a dozen from what we can tell who are being laid off at amazon. they've lost a top engineer to google. they seem to have a brain drain of talent from that particular product line.

so a lot of analysts saying that was probably part of the -- certainly didn't help and already struggling product. but you mentioned the analyst calls, amazon has been extremely successful with the amazon prime customers. basically they spend more than average customers and they're saying that isan under valued currently in the market. so even though you do have this closure and let's say an emission of defeat, at least as far as the phones go, it seems the services division is cracking and james putting an out perform on it. >> that does make sense. the phone be it as it will, we are big amazon prime fans, and risk and reward fans as well. coming up at the top of the hour, 2:00 p.m. pacific. coming up. >> at least one driver is pumped to be behind the wheel this summer where you can find the cheapest gas prices.

plus it is christmas in august. walmart giving customers a head start on holiday shopping. just what you want. ♪ it's a calling. a love affair. a quest. the next horizon. everyone loves the chase. but it is not the device mobithat is mobile, it is you.

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nationwide by december. last year it was $3 a gallon. right now the price is 2.53, it was 3.43. and walmart and target. why will they benefit from the drop in the price of gasoline? i will now answer the question. here's it's simple. consumers are going to put 60 to $80 billion back in their pockets in 2015. because gas prices have actually been coming down all year long. that extra money is going to show up in aspect according to county and company at restaurants and retail outlets like walmart and target. in fact, they expect in the fourth quarter that consumers will spend an extra 1.8 to $2.4 billion to closing because of cheap gas. so to the jig video, dancing the jig, having a great time. celebrating. $2 and less gasoline in new jersey. another thing senior new jersey has the lowest gas taxes in the country.

one reason why it's cheaper here than places in, say, california. >> adam, thank you very much for that. i like how you answer your own questions. i was getting nervous i didn't want to come up with one. >> whether it's on wall street or main street. here's who's making money today. walmart. the retailer sent a big message today announcing it will make its annual holiday lay away program available to customers two weeks earlier than last year. walmart will also lower the price for eligible from $15 to $90 and give customers 90 days to pay instead of 60. and chicago target? a target store happened in chicago could be the first to have a full bar. this store applied for licenses to sell packaged liquor and to serve alcohol including beer and wine, the only thing that could make target -- going to target

better is having a march tebah. >> we should go back to that old guy in new jersey, he's dancing for that one too. >> and the dow with its biggest two-day point gain ever in the market rally. we're going to go back to the exchange here. see what some of the traders are saying about it. 369 to the upside. pretty good for two days considering where we've been. what will happen tomorrow? that's next

>> spent the better part of this market rally day building up to this. how will the markets -- [laughter] head into tomorrow? >> yes. that's right. let's go back to liz claman at the stock exchange because she knows. >> i asked the traders. nobody's taking the early afternoon train away from wall street tomorrow. they're staying here. it's just become too important for them to be here in the final hour. that's when it appears the real tone is finally set for everybody's money. so here's the -- here's the calendar. here's the market recap, and you can see exactly what happened. , listen, there's no way around it. monday was the most frightening day.

it opened, we fell 1,089 points, it closed down. wednesday was such a huge day and we're getting the final conserve on sentiment markets. >> thank you, liz, risk and reward starts now. >> three. two. one. and lift off. >> the dow and the nasdaq officially out of correction territory. drama until the close and the final hour, it looked like the stocks were going to collapse, and it moved to near session highs, and every twist and turn from the floor of the new york stock exchange and what i can tell you as far as the dow goes, in point-terms. it is the second best day, as far as point goes, percentage