getting rid of the subsidies, so apple has to make this thing sexy. the market's hanging in there nicely. last week about holding above 16,000, this could be breaking through 16,400. neil cavuto has an amazing lineup. take it away. neil: you see a rally at the corner of wall and broad to kick off the labor day fall phenomenon. september a problematic month and we are very much under water for the month, but buyers trying to make a goal. welcome, everybody, i'm neil cavuto, and this is "coast-to-coast." keeping you abreast not only of the surge in stocks but what is propelling it. we're getting news on the wires that warren buffett is a big believer in ibm and buying more shares. liz claman will be speaking with mr. buffett very shortly, she's going to be handicapping all of that later on in this broadcast. we're also getting word out of the likes of leon who says the bull market is not over.

so all the commentary to the contrary is just wrong. anyway, those are two big heavyweights saying now is the time to buy. you add in deals in the energy sector, in the pharmaceutical arena, in the retail arena, adding up to 15 billion dollars just today, and another 15 billion dollars in stock buybacks. we'll get to the details of all of the above when we've got buying that is eclipsing selling for now in the middle of the trading day, and we have four hours to go. jonas max ferris and scott with me, are you a believer on this? >> today i am, tomorrow could be a different story. heavy on the antidepressants i think, one day things are great, the next day they are terrible. reminds me of my ex-relationships. i will protect the guilty. this is an environment that appears to be risk averse. feels like an elephant on the market, i think that is the

federal reserve, a tremendous amount of uncertainty, in my opinion, they aren't going to raise rates but the market isn't so sure. that's what's putting pressure on equities. neil: these things get wind at their back when deals are announced or share buybacks are announced and that provides oxygen for the time being. normally for a short time being, that's the juice today, how long do you think it lasts? >> as long as commodities don't keep collapsing. there's a lot of people that buy because the market is down 10%, and that will support the market. unless we see oil and commodities head down again, they've been down a year more. if we see go down to 40 or 35, you will see sell-offs that could cause a recession kind of like the dot com bubble when there was layoffs. i don't think i can be confident the market is going to take off unless commodities stabilize at the low levels. if we plunge more, we're going to get a global recession that

will wrap up the u.s. into it just like the late 90s. neil: scott, we seem to say china dictates the mood, trading resuming to the upside. those that trade in the united states that mimic certain sectors of the chinese economy are up, but i'm wondering how much of a role china plays going forward or are we sick of sort of letting china wag the dog here, what do you think? >> well, i think china is first and foremost, neil. the largest emerging market as you mentioned, a part of some investor portfolios for a period of time there. we have taken our money out of china over the last couple of months. i think china continues to be the leader, that's somewhat unfortunate, that's the commodity play he's talking about. if china slows, guess what happens? commodities prices fall. if commodities prices fall, that means more slowing in

china and downward pressure on stocks. neil: jonas, i want to follow up on something i mentioned at the outset of the problem, it could play both ways to. bring a lot of folks up to speed. teako energy looking at canada's enra which could be 3 billion dollars. concordia looking to buy interform for 3.5 billion dollars. media general to buy meredith, 2.5 billion dollars. you could interpret a lot of these moves as pouncing on a cheaper market, and not necessarily a good sign. what do you say? >> i think it will continue because these stocks are now cheap relative to what the companies borrow money. and most companies with current interest rates could buy the stock up and pay off the interest rates. most companies can buy other companies and finance it with the earnings low. that is the support in the market whether it's mergers,

buyouts or investors looking to earn 2-3% dividends where they cannot get that safely in the bond market. neil: scott, would you invest as an aggregate in the dow or the s&p at these levels right now? >> i would, and neil, we have been, we're still long. granted our time horizon is about a year plus with regards to where we're buying in here. if you've got money that's relatively short term under the year or so period, i'd be careful here. the problem is there is nowhere to get a safe yield either. if you owned bonds as a safer, you've been hammered. cash might be a good position here, but we're in store for bottoming and a good fourth quarter. neil: gentlemen, thank you very much, always appreciated. in this city over the weekend there was violence. ask any new yorker walking by

times square or central park and seemed to have reared ugly head, higher crime, a back and forth in the media whether it's that bad in the scheme of things. it is what it is. violence at the west indies parade that has a key former andrew cuomo, governor cuomo aide on life support. this raised the attention of the likes of john peeble, a democrat by dna, last time he was here he was talking about challenging mayor bill de blasio, a democrat, he failed to live up to his expectations but by greater extension, new yorkers, good to see you. >> good to see you, neil. neil: worrisome crime news over the weekend. what do you think? >> i think that most new yorkers, including myself are very disappointed with the direction the city is going. we're very disappointed, the mayor has let us down. he promised to bring the city together, he promised to

address income inequity, the tale of two cities. the biggest challenge that new yorkers confront every day, especially those on the lower end of the economic status is crime. neil: what is going on around here? in the beginning it was anecdotal you see the squeegee guys out in full force, more homeless people. that could be the general economy as well. but certainly new york isn't feeling as safe as it was. what's happening here? >> i think it's a combination of things. new york is not safer. neil: you think the mayor is stopping that? >> i think the mayor is a political strategist, he's never been an executive or manager. bill de blasio is an optic mayor, he will take mediocre statistics and celebrate them. neil: sounds like president obama. >> well, de blasio takes the murder number and says murders are down comparatively speaking but shootings are up, maybe the hospitals are doing better with shooting victims. the fact is new york is less safe.

the types of crime is more aggressive, more random, like what we saw at the west indian celebration. a harvard-educated lawyer who pulls himself up from the boot straps of public housing, currently senior aide to the governor and he's shot random me. neil: that's right, he's a current aide. he wasn't targeted. he was caught up between the gunfire. >> yes, hiding for cover. so our city is less safe. neil: all right, now, the argument against that is get back to stop and frisk. others said that alleviated this. if you ever became mayor, would you reinstate that? >> look, i don't support anything that discriminates on law enforcement, but across the board, we have to be more aggressive in getting guns out of the hands of criminals. >> that's not what i asked. would you start stop and frisk?

>> he has reduced it. i'm not sure whether it would be stop and frisk, but aggressive technique that would get guns out of the hands of criminals. neil: the rap against that approach rational though it may be is that it is racial profiling and they would get you on racial profiling? . >> i think it's economic profiling more than anything else. i'm an african-american, and i'm not afraid to be stopped and frisked because i don't fit a profile and not in an environment of economic neglect. i think that the large number of people stopped for stop and frisk were men of color, and i think that has to be broad. if stop and frisk were a policy to where it would cover everyone, then that would be a different story. but regardless, if it's not stop and frisk, something has to be done. bill de blasio mentioned in response to the shooting that it's a national issue about gun control and it's a national issue. it's not a national issue, new yorkers are murdered. new yorkers are shot.

neil: is it national repudiation going on of extreme liberalism? you know, there's a lot here that this mayor, maybe rahm emanuel experienced in chicago, has given away far too much, looked to be in the hip pocket of far too cozy democratic constituent group, in his case, the teachers union, and democrats of all stripes are rebelling, and hence your name coming up as a more reason challenger to the mayor. >> i think de blasio is left of being a democrat. he's more of a socialist. neil: but what are you? >> i'm a democrat with a responsible approach to management. neil: do you worry that your party nationally, especially with the surge of bernie sanders, risks doing the same going way far. >> i think they're going to lose, and the party will lose a lot of constituencies, and you're seeing this in state elections and municipal

elections, if they go too far to the left. they're going to lose core constituents. like african-americans, they're tough on crime. african-americans believe in a strong education, that's the only pathway to a better life. neil: would african-americans ever go republican? >> they would begin to look more because the policies we're seeing from the left side of the democratic party are not effective. bill de blasio promised to end the tale of two cities. yet in two years in office, the minority contracting for african-american and hispanic owned businesses is nine-tenths of 1% for a population that is 54% of the city's population. that is absurdly poor performance, and again. neil: you're definitely running? >> i'm giving a lot of thought to it. neil: you're definitely running? >> giving a lot of thought to it. neil: don peebles, rattled a lot of cages when he nuanced the subject. again, he has a lot of respect and notoriety within the democratic community and

outside the community could be one of those cohesive candidate, just bring everybody together. >> bring everybody together and solve our problems. neil: thank you very much. want to take your attention to the corner of wall and broad, the sell-off or gain after the sell-off. we're up about 265 points. but should we be so marketcentric? john kasich, the fine governor of ohio says we should not and changing the proverbial view that republicans have on the markets. they shouldn't be your friend and he has an interesting read on this. he sounds a lot like mr. peebles. my special guest at 4:00 p.m. on fox news channel on your world. did you hear about the bond king relegated to the bond knight? what the heck is going on right now with, well, bill gross and his former pimco empire?

after this. technology empowers us to achieve more.

it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world.

tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around.

. neil: all right, they're hoping to make this a september to remember, not for the general rule of thumb that has september being the worst month of them all for stocks. october gets the headlines for scares and sell-offs. can you imagine the people who have the time to look into this? september is the worst month and this month is starting out that way. today they're trying to make up for lost ground. 289 points, we'll get into a lot of those in a second. i want to focus on money seeking a safe haven in treasuries, that's lifting the yield up a bit. a 10-year treasury to which a lot of 30-year mortgages are pegged. inches up 7 basis points. and speaking of interest rates,

that gets us to the late, great, maybe not so late, but certainly not so great pimco fund, minus a certain star. it seems to be gasping for air. charlie gasparino on that, what's going on? >> we should point out that pimco, the mutual fund that used to be run by bill gross, a year after bill gross exit, and i believe he exited pimco. the co-founder, chief investment officer, left them about a year ago, right on the date, continues to bleed assets. the total fund is down 25%. neil: pimco is a large bond. >> 1.5 trillion under management right now. neil: of all types. >> mostly bonds, that's down 25% since 2014. yearly that amount since bill gross left in september 2014. here's what we know, they're planning layoffs at the company, they're discussing it at a high level. the management at pimco, i'm not saying they're going to do it, at a very high level to make up for the loss in assets,

preparing for possible layoffs. neil: did they make any baddy bets, i thought they were doing okay. >> here's the irony, don't follow the celebrity out the door. bill gross was known as the bond king. assets under management maybe down but the returns are up. pimco's total return fund is beating both the s&p over the past year and the average bond. they're doing better. doing very well. an actively managed fund. neil: marries and mingles bonds to maturity. >> right. they just don't give you a treasury bond, they give you a little extra. what we have is a bleed of assets as what people do is follow the celebrity out the door. they've been doing that in droves. neil: which followed them now to the new home? >> he's gotten assets under management. not nearly as much as they have now. a total return fund, which was

his baby is now for the first time since 2007, under $100 billion in assets and total assets under management at pimco. this is why the management is discussing layoffs. nothing definitive, discussing is now down 25% since 2014. neil: you think they could be a precursor or telegraphing trouble in the bond market or perking the bubble, you know what i mean? >> yes, i think this is much more of an issue of celebrity. i think he got so much play when he left, and investors follow the name. for better or worse, you follow the name, sometimes it works out, sometimes it doesn't, and i can tell you based on the numbers, when he's been leaving the door over the past year, but over the past year, the numbers at pimco are pretty good particularly in the total return fund. beating comparables, beating the s&p, large basket of stocks, beating the average bond.

for investors don't chase the celebrity, chase the asset class you're looking for, and right now this is a case where they're chasing the celebrity and losing. neil: charlie gasparino, thank you very much. no one engenders more tweets, good -- >> and a lot bad. neil: than my charlie gasparino. >> don't we have a millennial segment coming up? neil: yes, we do, millennials are doing something that shocks charlie. saving money at a greater rate than charlie. which is a moot point, charlie doesn't have to save money? he goes around town saying how can i spend all that money? that dilemma is safe. mano y mano. congress is back in session, charlie loves this time of year. and eric trump, donald trump's son, certainly up to the task of being great in the trump

administration. i think the kids have effectively said they're not interested. we'll ask eric himself, not only what he might do in the future, but what his dad's administration would look like if he ever makes it to pennsylvania avenue? can a business have a mind?

a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?

. neil: all right, if you have a flight booked on lufthansa, you might want to look at alternatives. the air carrier is cancelling 1,000 flights due to what was first a threatened strike worldwide. lufthansa cancelling 1,000 flights. by the way, coincidentally, having nothing to do with this, market watch reporting that jeb bush is recruiting peyton manning as his football guy, just as tom brady has shown his ties to donald trump. is that news breaking and urgent? not at all. but i thought you should know, because both of these guys are

apparently big into the football thing. all right, now, congress back in session, saying they've got a lot on their plate and little time to get stuff done. blake burman monitoring what'sotto do list, they have a to-do list of three big things, the biggest is the clock, time's awasting, right? >> it is one after another. they've been off for a month now, they returned to a jam-packed schedule. we laid out the calendar for you, let me show you that real quick. september 8th. the senate begins debate on the iran deal, that is the first big thing that you mentioned. the house will pick up that tomorrow, by september 17th, so a week from now is the deadline on the vote. they have to get that all wrapped up, many believe here in the next 8, 9, 10 days or so. once that is done, then you fast-forward a few days after that, because the pope visits congress toward the end of that second to last week there, that

will draw a lot of the attention there for that address before congress, and then really what many believe will be the big grind and the big one, and that is getting the spending bill done by the end of the month, september 30th. fi din oer dfoe teth day, day one was cta a big victory for the president with the iran deal, senator gary peters, richard blumenthal, ron wyden, all threw their support behind the deal. this got theresident to 41 votes in the senate, meaning most likely he will not need to veto legislation, disapproving the iran nuclear deal because now he has the votes to block the resolution. we'll see how that will affect the calendar. either way, neil, it is going to be a very busy month. neil: all right, have a feeling you'll be a very busy guy. blake burman in washington.

well, you know, i always like he appears on this show after a battle he took on the party leadership, stripped of committee assignment, got the committee assignment back and he's ready to raise hell again with the republican party. i don't care whether you are the right or the left, i generally admire those who risk suicide to continue doing their job. mark meadows joining us right now on what's at stake this year. congressman, good to have you, welcome back. >> neil, great to be back with you, thanks so much. neil: you know, congressman, lo and behold, i know you're coming oread a glowing profile of you i think in the "washington post," and the gist is you're your own man but like donald trump just quieter, you are not afraid to rattle cages but you are rattling cages at gop leaderships, explain. >> trying to make sure

washington, d.c. works for the american people, neil. most americans know that the process is broken here, and it's really stating the obvious. this is not about me, you know, i'm a behind-the-scenes kind of guy, a policy wonk, when you look at it we've got to change the way we do business here, and if our leadership is not willing to change, we need to change the direction of that leadership. neil: yeah, you were very direct from one of your recent rallies, you said when you looked at majority of the american people, when they believe that their leadership is letting them down, there is only one option out there for us to change that leadership. you are making a direct reference to john boehner who you had argued, you filed a motion to depose him near the end of july before congress went on recess. whatever came of that? >> well, it really is still sitting out there and depends on the american people, neil.

viewers of this particular show, obviously, they have to weigh in with their individual member of congress, but it really with, we talk about donald trump and what's happened there, across the country, whether you agree with him or not, what people say is they want to shake things up and do things differently because they know the way we've been doing it hasn't been working. >> is there the appetite in congress, sir, to do that? because when you floated the idea, wasting your time, boehner isn't going anywhere. chris christie was heckling your concern and anger at party entrenched leaders everywhere without mentioning boehner specifically but saying there should be term limits. got to put a limit on these guys. what do you think of that? >> we need to look at term limits. really what we need to look at is the way we do business. when the voice of the american people fails to get heard with votes and you're seeing it with the iran deal, you know,

probably the most significant vote that we're going to days, and yet, it doesn't look like we'll have enough votes in the senate to bring it up and debate it. neil: your party agreed to that. congressman, your party in the house and the senate agreed to this mishmash of approval process where can you have overwhelming majorities reject it but still go through if it doesn't reach two thirds? >> but turning the constitution upside down, that's what the vast majority of americans believe is the trouble instead of having a supermajority it approve a deal. we have to have a supermajority to disapprove it, that's not the way that our founding fathers intended. certainly by my definition, this should go the process, and yet what we're doing is finding all kinds of ways to make accommodations for policies that most americans don't want. neil: congressman, always very good seeing you, mark meadows from the fine state of north carolina. see what happens in the next few weeks, thank you, sir? >> thank you, neil. neil: a lot of people who love

donald trump, a lot of people who hate donald trump. i don't think there are many who criticize his kids because, to a man and woman, they're a fairly remarkable bunch. so i say he's good at that. eric trump is the proof. he's coming up after this. do you want to know how hard it can be to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment

that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take, even eye drops. if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain or problems passing urine, stop taking spiriva respimat and call your doctor right away. side effects include sore throat, cough, dry mouth and sinus infection. nothing can reverse copd. spiriva helps me breathe better. to learn about spiriva respimat slow-moving mist, ask your doctor or visit spirivarespimat.com

. neil: all right, china is looking at implementing circuit breakers, that was seen as good

news and why the chinese market moved up. our own market moving up smartly on a lot of deals. it's propelled the dow now up over 300 points. regular viewers know we don't obsess over the tick by tick movements. when they are big, we'll pass them along. the interest rates, 2.19% for a 10-year note. i think that's what my wife and i were paying per day when interest rates were a lot higher. i'm giving away my age. interest rates are cheap which brings us to real estate titan eric trump, i think you know his father. great seeing. >> you great being here, neil. neil: i'd be remiss if i looked at what's going on here with rates and this bond market bubble we talk about, and maybe pimco's fortune saving under 100 billion in assets is a big sell signal. what do you say? >> listen, if you talk about low rates for a very long time.

and low rates create many bubbles. i hope rates don't go up to the point that all of a sudden it creates another bad situation where people are defaulting on mortgages. >> did it create a bubble? did it get too risky? you can't go wrong with interest rates. >> so artificially low now, if you look back to the early 90s, artificially high. you remember much better than i do, you remember when ratestor, 21%. neil: you are assuming i'm that old. >> you have to be in that area. neil: when it comes to buying properties wait a minute, if rates or bonds are indicative of a bubble, so too is all this real estate? >> we're a different company. we believe in having a lot of our net worth in hard tangible assets. we find the best properties in the world and hold them generationally. neil: sometimes overpays but he is not in this for the short haul, right? he buys the property, buys the locale and holds on forever.

>> i don't know about the overpayment. we bought a lot of great properties. we like buying out of bankruptcy, down terms where we go in with our own money, we're less subject to rate shifts and how that works, as it comes. >> who's running the show now that he's running for president? >> we're having a lot of fun. he's very, very involved. he's a man who loves his business, but also loves what he's doing from a political standpoint. he's so sick of the nonsense of this country, sick of government officials who never get anything done who create massive problems. he's a patriot, he loves america. neil: are you serious about this? the rap is it's all for the business, all to promote the trump name? >> he's number one in every poll. neil: does that surprise you? >> honestly, it doesn't. in the man he is. i sit across the table like this every single day with him. he's a special, special person in everything he's done in life. he wins at. neil: did any of you advise

against it. dad, whatever your opinions that you knew and know what he's in for, that it's not worth it, dad? >> don't do it. >> we saw the frustration, he'd read the paper and shake his head, you've got to be kidding me. and for him it's a selfless thing if you think about it. we have a business, we're doing tremendously well, we're opening up hotels, golf courses, et cetera to. put all of that aside, to run for office, to get shot at by every media outlet in the world. neil: i think he loves it. >> it takes a special person. neil: he loves the attacks and loves coming back at attackers that he was born for this moment. >> don't we need that in a leader? doesn't america need that in a leader fundamentally. neil: do you ever tell him, dad, you went overboard on john mccain, went overboard on the mexicans, what do you say? >> so many of the various topics.

veterans, he's brought that to the forefront. illegal immigration, he brought that to the forefront. neil: no, no, i'm not saying to disparaghim or you. do you advise him there's a better or different way to say this? >> he's a special person, what people learn about the campaign, is he says what's on his mind. there's no sugar coating, it's trump talk. neil: they'll have the knives out at debate next week. do you advise him what to do? >> i was watching him and hillary, everything is so scripted. the point he made the other day, they read off teleprompters, see how well they do on the national statestage? i think that's what americans want as a leader. neil: i can't stand people who depend on prompters. move up a little bit. i really can't stand it. [ laughter ] that is kind of function the more he succeeds, the more he comes after him. you saw the jeb bush attack ad, carly fiorina saying brush up,

you got to learn the issues. >> the more they attack him, the better he does. he is who he is. he's a genuine guy. the thing that's fascinating is how many groups from all different sides of the aisle have come to support him. there's not a day where my twitter account doesn't get a new union group or this or that wouldn't traditionally be on the republican side but knows the person he. is he will have the crossover and that makes him special. neil: why doesn't he use the kids and ivanka more or trying to shield them from this? >> i go to so many of the rallies, in alabama, he had 35,000 people. it was great. we're doing great as a company. neil: is it understood he makes it to the white house, are you running the show. the three of you? >> the three of us, we have separate jobs. we have amazing work. we're building great properties around the world.

it's nice to have a father who taught me a lot, he has immense trust and it allows him to go out and the majority of his attention to something he cares about, which is politics. neil: he hasn't had to spend a lot of money because the media attention enables the campaign to go on. do you the heir to a vast fortune worry he's going to blow it on the run? >> if somebody gives you 5 million dollars you are beholden to that person imperpuity. neil: he will always turn down money like that? >> people write checks, they send money, he doesn't go campaigning for it. neil: he is open to pacs, he can't control that, anyway. >> that's right. i guess that is what it is. he likes writing the check. if he flies somewhere, he likes paying to fly his plane to whenever the respective location is.

makes him feel he's not beholden to other people. hillary is talking about the campaign rules and finance rules and this and that, if you go down the top 10 supporters they're the biggest companies. neil: yeah, i don't know if i were she i would be talking about that, the campaign rules. this campaign and the money it costs and all of that, your father ironically has gotten support from the most unlikeliest of places, the economist and commentator paul krugman comes to mind his views are more respective of reality than that of other conservatives who want to want low, low, low taxes and ship jobs abroad. he wants to penalize those companies that ship jobs overseas. what do you see? is your dad a moderate or liberal? what do you see? >> he's anti-waste believe ands in efficiency, he doesn't believe in nonsense, he doesn't believe in waste. when you say 19 trillion around him.

literally his head looks like it's going to explode. he is so disappointed. neil: you're talk about the debt, not his net worth. >> the debt of the united states. and by the way, that's not including personal debt, mortgages, student loans. neil: unfunded liabilities of all sort. >> just on the government side, that's 150 billion dollars to iran. the bridge which are building north of there is a 5 billion dollar bridge. giving 30 bridges to iran. are we not the craziest people in the entire world. that what's makes his blood boil. neil: real quickly, do you think your dad, if he fails on setting the stage for you. he's going to be joe kennedy, he doesn't get the brass ring, maybe his son eric will? >> i've never seen him fail in his life. everything he touches turns to gold. i think he's going to go all the way. neil: i know, but would you be interested? >> i haven't thought about it. neil: come on. come on. >> i mean it. we're doing the coolest

projects around the world, great hotels on every continent. building the biggest golf courses, doing great as namely. neil: is that a rule in your family, everyone has to play golf but be damn good at it? >> i wish i was better. the second i'm a scratch golfer fire me because i'm doing something wrong. neil: i'm very good at miniature golf. but that doesn't count. >> we'll get out golf course. neil: eric trump, impressive bunch of kids, i tell you, and a lot of people watching this. we will have a lot more after this as the dow goes in and out of upday. 300 points. stick around.

. neil: all right, the dow is up about 300 points, deals in the works, and by my market, don't hold me to, especially when i have to take off my socks and use my toes, the staff particularly resents that. up about 300 points, we've got 35 billion or so in deals

announced and another 7 to 8 billion in stock buybacks, propelling this. let's take a look at 30 components of the dow. minus chevron, they're all up. ibm up appreciably as well. warren buffett is buying more ibm shares now. he expressed interest in ibm when it was in the middle of the free fall in the downdraft about six weeks ago, no doubt it's a subject he's raising with liz claman in the one-on-one interview she's got planning. interesting to point out ibm on word that warren buffett is sniffing around and buying stock is not only propelling that but a lot of other issues that go with that. again chevron the only component that is down in the face of all of these rapid changes. all right, lu heard about the big jobs report that came out last week, the unemployment rate down to 5.1%, played up in the media to set aside the

disappointing 173,000 new jobs gained, but when you looked at overall jobs picture, our next guest says it isn't all that great. close to 700,000 jobs really came at a big expense, in other words, lost in the very same month we were crowing about gains. to hadley heath manning on what this means, what are we looking at here? >> the economy is simply not producing enough jobs to accommodate all the workers, native born or foreign born who want to work. when you look at labor force participation rate at a 30-year low, 62.6% of people participating in the labor force, this poses long-term problems for our country. >> the issue was 698,000 native born americans lost their jobs, offset by the 204,000 foreign

born americans but hasten to add it doesn't mean illegals took the jobs they were foreign born, what does it mean? >> right, the bureau of labor statistics doesn't differentiate between foreign born workers of legal or illegal immigration status, it could include refugees or students or people here temporarily. anyone who wasn't born in the united states, a large group of people who don't necessarily have illegal citizenship stat us. >> you look at 5.1% unemployment rate. in what happens around convention time. this year or earlier you get the democrats getting together and say 8% for a while. now down to 5.1%, maybe lower, and they're going to crow about that. what do you say? >> well, there are so many other facets to this equation, you can look at number of people working part-time who prefer to be working full-time. that number ticked up in august, there's a lot of frustration among the population, people don't feel they have the opportunities

they need to earn as much money as they'd like to earn, stagnant wages are another part of the economic picture. you can talk all day with the u-3 statistic or the regular unemployment statistic. neil: don't get me started on u-3. >> it's not the whole picture. neil: hadley heath manning, you are a genius, she's right. the numbers can be wiggled to whatever you like but not the general headline that you pay attention to. by the way, we're getting details on the chinese circuit breaker rules that go into effect. we have that in our country where stocks fall over 500 points, they all traded for a while, they fall 5,000 points they stop trading for a while longer. they fall 2,000 points everyone on wall street kills themselves. that's what we have in this country. not the kill yourself part. china is trying the same thing, with the circuit breakers, they can sometimes with the best of

intentions slow the momentum and exasperate the situation and exacerbate it at the same time. see that? i combined those who s.a.t. words correctly. i don't know if it's going to go well if china tries to implement all this. it's dicey. amazon is out with a cheaper tablet the same week we're told apple could debut a bigger far pricier tablet, amazon's is 50 bucks! who wins? after this.

hi my name is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here. at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.

choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number...right now all beds on sale! sleepiq technology tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store.

don't miss the final days of the biggest sale of the year! with the c2 queen mattress just $599.99. ends sunday! know better sleep with sleep number. >> i so wish you could be here -- [inaudible] anyway i got amazon, now up 50 dollar tablet? >> yes to the man who will buy anything electronic. [laughter] exactly. careful here. but go ahead.

>> for you for christmas $50 tablet with a 6 inch screen half the price of the fire hd tablet amazon made a huge, huge foul you with that very expense iive smartphone launch trying to corner the failing abook and the like it is a business way to do it. my prediction will be, eventually smaller tab lets will be free as long as you agree to watch a certain amount of advertising. >> we're told among other things apple announces a price here bigger ipad. >> this 6 inch tablet that amazon is launching is close to the size of the iphone 6 plus. the tablet from a physical will be certainly larger than ten inches which is how big the biggest ipad is. >> who -- no, who are you? i just don't like you talking

measurements. did i say that? >> you did. >> where do i go? suzanne is saying look fcc on the phone. we'll have more after this. great everyone.

>> all right, this is what happens when you're deemed you can lift almost single-handedly the price of stock. all a though price wouldn't be up normally but advanced 2% come on heels of warrants that brook shire hathaway one of the richest on planet richest man in market history. retchest to have made his money exclusively in the market is dipping into ibm our liz claman will be talking to warren buffett to get his advice on what is going on here and why he's attracted to these and other abouts that has been beaten down. so maybe sheol find out sympathetic she doesn't know so keep you abreath that of that.

getting whole lot of reaction to a mike with north carolina congressman mark meadows he said you want to throw out speaker boehner, he briefly lost a committee assignment. buhe'sightg fi witfire yinghat aderip h bee a big disappointment that is deemed it has been a rallying cry to niger nots afraid even with fellow conservatives invades the speech. i guess it was a speech. but you reminded some of conservative colleagues here that they can investigate president obama all they want but they said i quote here obama wases right then he's right now when he says that he is the progress ronald reagan, swallow hard my fellow conservatives but he is. maybe we can call him bizarre to our reagan superman, but don't deny his historic strength. and that's how you began.

wow. what was the reaction you got? >> well, you know, a lot of folks were in denial and we're past the graveyard i think that's a mistake f we obama has been transforms you look at the fundamental and it is out of the window. there is no such thing as an iraq as we know it. syria is a mess. north africa, parts of north africa libya is a mess. there's a crisis there. you feel a new resurgent russia on the prowl. the world is definitely a fundamentally different place and, of course, that big card in all of this is iran has been welcomed back into the community of nations. and i would say many experts would say is well on its way to becoming a nuclear power that is economically empowered.

>> they criticize all of the above. you just -- you know, explain each one of them far more el eloquent will you than i but considered a sequence and old congress is taking hold in this new session. what do they do? they've got a -- what another 12 days or so before they're facing debt deadline. how do they show their oaths? >> you know, i fear to say that they're not going to do much of anything but look for a place to fall on the matte. remember that second sugar ray fight robert toe got so frustrated that he was throwing up his hands saying no. unfortunately i think that is largely reflective of boehner and i say with great sure grin and sadness that senator majority leader mcconnell -- >> why are they doing that? concern the way media portrayed

them? mainstream media is always going to hate them and awlgt to get over that 378 >> you know, neil this is a problem republicans requester generations not just years but at the beat down you wake up in the middle of the night they want to be embraced by chamber of commerce crowd, much more so than their own constituents. and they need to start paying attention to their constituents. take a look at the trump phenomenon. you may not think he's the nominee or you may believe it. one thing you cannot deny is he's tapping into a hunger, a desperate need for conservatives, republicans, independent for a different vision of for sun who is truly going to lead. >> but they're not going to do a lot of thingings you sigh they should do. they're going to try to get along. pace themselves to an election they think they have a good shot at. you say dangerous, why? >> i think it is terribly

dangerous if the republican party puts up an image that they are dmet democrat light and that the progressive agenda of the current democratic party is going to continue with them pretty much saying we'll slow it down. but we're not going to fundamentally shift the direction into a different direction. then the american people if they have a choice between real thing and a phony they'll child choose real thing and it won't be republicans. >> my friend you do make people think. pretty good writing too. very good writer. i want to give me crafted capitulation and allow iran to nuke the united states from the former vice president dick cheney railing at this iranian agreement. and riled at republican who is haven't been more strongly forceful if their opposition. foreign policy experts on that and what happens now. well, he didn't told anything back. what's the reception he's been

getting since? empleght well the vice president is not known for holding things back that's what we love about him. i think talk got a really good reception. the white house was clearly paying attention, fact checking him on twitter, publicizing the speech we have 400 plus people in 13 camera crews i think people still listen to dick cheney. >> they might listen but they don't heed his warnings. he said i know of no nation in history quoting from his speech, that is agreed to guarantee that the means of its own destruction will be the hand of another nation particularly one that is hostile he does make you think because what he's saying there is they get the better apartment of this bargain at every single level. if that is the case, then why did republicans mitch mcconnell agree to parameters that would -- require such hoops to go through to shut it down? >> you know, one of the things

about president obama that i distinguishes him from democratic president what is had a opposition is willingnesses to ignore all of the rules of the game willingness to push through, use the tools that his hands to pressure members including dpght of justice to intimidate democratic members who he fierce would go against him so i think that's a real uphill climb for republicans on capitol hill. i do think that we're better options than ones that they chose. but i don't think we should make any mistake in this game that president of the united states has the power and was willing to use it. >> he did danielle thank you very much. now enter one joe biden over the weekend proving his labor day credential and a closeness with labor groups, and with likes of trump got inside of the flcio blasting the rich for not doing enough gop strategist out of goodman. emily, now, i should first of

all explain if i understand this correctly, adam that vice president was saying if all of a sudden richards is not paying enough. they have their top rate -- reare storeded 39.6% that added you include medicare surtaxes and whatnot. so their rate is closer to mid-40s. and i haven't talked about state and local. what do you suspect is the -- fair share for the vice president? >> well, you know, the vice president has been in favor as you know, neil of increasing the capital gains tax. of increasing the debt it tax he thinks weight is resolved things in the economy is through, you know, soak the rich tax schemes o opposed to economic empowerment that expand marketplace and as you know neil, when you tax those who invest, those who are investigationing in american business, that's full of rick

and rewards are uncertain if you play with that contaminate list system that has work sod well through years. >> i wouldn't mind if you want to go after a the rich go ahead. have at it. every democrat seems to do that. that's fine. i don't see a tenth of addressing the spending that seems to keep requiring these tax hike it is to pay for it all. why doesn't he do that and why does that make him anymore -- appealing candidate than hillary clinton who does pretty much the same? >> look, i think every option should be on the table i'll pint out not only democrats that are saying that but trump as well who has become a clear front runner in republican party. part of the reason that biden brought this up -- >> saying to be clear donald trump is saying rich should pay more than companyings who ship jobs overseas you're rites about that. but it is not a blanket statement that hire taxes and the answer for everything. but go ahead make your point. >> he did go to hedge fund managers he did say that they should be looking at taxes or we should be looking at taxing them

more seriously. >> billionaires agree including rupert murdoch, go ahead. >> it's true. a lot of people agree with that. that is exactly what biden was getting to. let's look at serious ways. >> wasn't saying about reign in entitlement but here, here, here, give me, give me. : what he's talking about is looking at ways to help people who have traditionally helped people to get into and stay in the palace p middle-class he was talking about a college proposal something that will help people get into the work place, we have to be createive about all of this and he's saying let's put it on the table. >> we can disagree but out of my concern, again whether you agree or disagree with a lot of what emily said i suspect you might disagree with some of is republicans have not offered a cohesive policy in response. generally the wrap, i don't think it is always fair is there's a party of no, no, no.

here's the bottom line americans say we need tax reform there's calls for flat tax, crews and others want to get rid of the irs. but the bottom line right now is most people in america you see in a poll are feeling disenfranchised and disconnected not just from the body of politics but from economic system supposed to be lifting those ships i think that's underneath all of this. interesting politically i don't know if this is part of the questioning here, neil. but the idea of a biden elizabeth warren ticket who would really focus i think on economic populism is a shift in a raise that started with insider moved to outsiders, but trump carly, and carson on the right sanders on left and now moving to back to a choice or another alternative of two insiders who were taking on this system themselves. it makes for really interesting politics also very important

discussions about how americans feel we should move forward in materials of economic success. >> we'll watch closely guys i want to thank you boit very, very much. here's what you need to know about how powerful the president has become the second material he single happeneddedly changed the name of a mountain. you know there's an app for that, it is called his regulation. after this. we live in a world of mobile technology,

but it is not the device that is mobile, it is you.

you premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all.

sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. >> all right we're just is hearing news now that a judge ordered that kentucky clerk kim davis to be released from jail from refusing to honor same-sex marriage licenses. she wasn't granting any. but i guess it is under the proposal that she can't issue

licenses to anyone that she can return to work to do that but not that. that is the law of the land. the supreme court, and these protests that have been going on in kentucky ever since she was jailed. well they might continue but she can't go back to that specific old job and denying marriage licenses to gays who were seeking such licenses after jailed after a days that she's going to be meeting with likes of mike huckabee, and ted cruz who are saying that she is being unfairly aligned for her religious belief. legal issue here judge said that you can on what you want request this issue but when it comes to marriage licenses we don't want you to do anything with them orb them someone else is going to do it. you can get out of jail, but return to work having nothing to do with issuing these licenses. apparently that's the deal. all right reaction now former virginia governor senator george on this and so many other issues.

you know governor i was thinking this is galvanized and conservatives, but others say it is a distraction from economic issues, and a that it is the law of the landic it was john kasich whom he's speaking later today on fox news that we have to honor it. the supreme court is spoken. what do you think? >> ting that first takes oath of office needs to comply with that oath and comply, and it's not an exception to it. if she didn't want to do it have one of her deputy clerks do it but you cannot ignore this supreme court decision whether you like it ore not and use oath to uphold and administer the law. >> which is essentially what sick is saying but some have been saying that it -- it is detracting from other messages of your republican presidential colleagues. do you agree with that?

>> well, it is getting a lot of news. obviously, religious freedom is the first freedom, and people should not be compelled to do things that are contrary to their deeply held beliefs, however, i think with religion freedoms come into play with the future will be you can't tell religious organizations, with churches, synagogue, mosques to perform act as -- or be involved in activities that are contrary to therapy deeply held beliefs. religious organizations have their rules and their operations that are not necessarily consistent with civil law. but no one is telling the church who got to change your policies that's the way a church or religious organization has to operate, and you should not be forcing people to comply with one type of religion or another. that is why it is called mr. jefferson first freedom statute where people's rights are not enhanced nor diminished on account of their religious beliefs.

but we have a civil government and we set what rules are for equal protection and due process under the law while protecting poem's rights of conscience. >> you know, on separate issue maybe on the same issue -- you have this going on at the same time congress is back in session. republicans don't have far to go we talked to north carolina congressman who said he's still angry at house leadership and by extension senate leadership, that appears to cave to the president and not, not speak for thoser who angry in the party, and i sense a temp. what do you think? >> i think that american people want to see action. that republican house and republican senate, there's so many things going on that are harming country and competitiveness and opportunities for american people an one are regulationser that coming about by unelected unaccountable bureaucracy rather than by the elected representatives of the people.

these upcoming ozone regulations which are the mother of all regulations. going to cost 140 billion dollars to our economy, 1.4 million people will lose jobs every year. the cost to a consumer complying with these regulation it is that are hard to comply with because there's not technology to achieve those goals will cost an average family about $840 dollars a year. like -- >> the president is in violation of the supreme court that is ruled of the epa you have to weigh those costs, and, obviously, up against epa wasn't doing that yet we still see more and more of these regulation going unchallenged. >> well they've got to be challenged neil. that's what people expect out of the representatives one could be challenged in the courts because we're all for clean environment. and we can have a strong economy and a clean environment with balance, reasonable regulations and policies.

so these regulations that will come out at the end of this month can be challenged in court. but congress also has the power of the purse to have a resolution to disapproval, and they can say that epa shall have no funds whatsoever to -- implement these draconian overly burdensome rules that have minimal impact on environment that severe harm to our economy, and families and businesses, and our national competitiveness. >> governor thank you very, very much good seeing you again former governor of the state of virginia. all right, the meantime, a lot of reports out on millennial and saving not collectively we as a country don't measure up when it comes to other big clusters but you know you can't blame for that are millennials and boomers are are not doin their part so millennials rule and charlie gasparino drools. after this.

>> you know the markets has been crazy, and you probably heard that it doesn't help that americans don't save. but that, that would be wrong, in fact, there's some numbers out that show our overall national savings rate of about 4.6 is higher than any other western countries but our millennials are saving in top tear of western countries in what is more -- there's a study out that shows i want to get this right because charlie argues with me. 40% of millennials have increased their 401(k) savings this year which is about double the number baby boomers have done the same. aforementioned charlie gasparino, here we've got chris with us -- [inaudible] that does millennial dos their

part and boomers like young charlie are not. >> we have to. >> am i young? no. be over here. how old are you again? >> 26. i'm old earl than she is. >> but isn't that surprising. we have no choice we have to save for retirement. >> spepgding all aft money. we have to pick up -- ridiculous conversation. >> did you see numbers. >> we're spending on them, you know, i don't have kids but i did they would be a millennial and putting them through college. we're spending and we don't have money to save. capiche? >> spending that money -- >> we're paying for our college, our student loans. [inaudible] >> all of the stuff that makes

your life tampered we're paying. >> we're paying for student loans i paid for -- >> at home. >> live at home but i pay for all of my bills at home. >> probably not as well as your mom drchghts wow. i live on my own she won't be doing my laundry or checking for me. not really, no. what is not really? >> her generation in thing are aggregate saving more than our generation. >> on them . put you up. >> no, i mean, i don't know what you're spending it on but we're left with 20 trillion dollars national debt. we have -- >> going nuts -- >> more charlie. never -- your parents pay mortgage? >> no. so they own their house. >> yes. but they put you through college. >> yeah, helped me with college but -- >> saying first as a young man -- when you were her age and first offered 401(k) -- equivalent did you invest --

>> orveg of course all you could? >> i think you're lying. >> invested everything. save as a young man? >> i did. a lot. >> did you save? >> yeah, i didn't live with my mommy and daddy. >> because they wouldn't have is you. >> but get your laundry done. on to this. >> but listen this is an important point like her parents have saved and struggled for her, that's why she was able to go to school. they pampered her that is why she was able to do certain things, now -- charlie criticizing this generation for not looking after their financial -- here she is as a logic of your comparison and her comparison is that he now -- we boomers always wrong. we spend money on them. we work hard. i worked through college, through law school. >> hardly worked.

>> than you worked hard what did you do while you were in law school? >> i worked at a radio show i was a cheer leader for the new york islanders. >> yeah, for new york islanders? >> that's hard work? >> fun work but i had a job. >> of course. >> yeah. all right so -- >> i also worked for ice cream. >> generations you get a bad rep when it cools to participants of the future. this confirms same numbers because of us our our generation they can do that. >> saying it is nice that you're saving and nice that you were a cheerleader wonderful stuff. i applaud that. but i'm telling you, your question -- >> i think michael wases at uclaty could be wrong about that. but anyway, my broader point is that you -- your question, analysis is wrong. it is faulty. >> giving you numbers --

>> baby boomers have to spend on her while she's cheer leading. her parents. >> greater generation -- does that affect our savings? >> a lot less. only thing -- >> i really disagree. i don't think this is -- >> only thing i'll throw a bone on is colleges have ripped you off more than they have us. absolutely. >> saving. >> commend her she's saving. commend her. >> quell -- like i said the last time, like i said the last time. >> come on. >> if you want to bring a good looking hockey player. are you going to bring him home? [laughter] are you trying to get a lawsuit? >> i'm on the cheerleader thing. when we come back donald trump, i don't know if he brags about about this kind of praise when it comes from a certain new york columnist, after this.

how's the college visit? does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing our clients personally is why edward jones is the big company that doesn't act that way. get fast-acting, long-lasting relief from heartburn with it neutralizes stomach acid and is the only product that forms a protective barrier that helps keep stomach acid in the stomach where it belongs. for fast-acting, long-lasting relief. try gaviscon®. . . so you're a small business expert from at&t? yeah, give me a problem and i've got the solution.

well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep it all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. add new business services with at&t and get up to $500 in total savings.

neil: all right. look at oil prices here of the october contract is trading at 45.49 a barrel. it is down 56 cents. a lot of reasons for that. growing slowdown in the world and this nuclear deal with iran seems to be close and will bring two million barrels of oil i think a day on to the market fairly soon. phil flynn watching all of that, where it goes from here. phil what is going on here?

>> neil, i don't know if i'm watching oil market or road runner cartoon. this has been all over the place in just the last 24 hours. this is a market that doesn't know what it should be following right now. should we focus on the fact that we're seeing u.s. rig counts fall? should we focused on potential return of iranian oil down the road? should we be focused on chinese stock market and weak trading? or look at germany with record high trade numbers this morning? that is why you're seeing this volatility. this market has lost its identity. before oil prices were leading the market down, neil, because they sense things were slowing down in china. now it has become a follower. we're living headline to headline right now. but from a positive perspective, oil prices have actually not fallen as hard as a lost naysayers fault. we would run out of storage and no place to put the oil that signals to me there is still strong global demand. that is why we're seeing this incredible volatility. neil: a lot of folks looked at

china said the market overreacted to china slowdown. not that it is stopping but just slowing down and plenty of other entrants in the market that will sop up demand or is that bull foolish case? what do you think? >> i think, bottom line, we saw big drop month over month in chinese imports in this morning's data, year-over-year they're importing six million barrels of oil a day. they were at record high pace. you can't read too much into one week's numbers. if you look at the trend, chinese demand will not go away anytime soon. if the chinese government stimulates the economy like a lot of people think they will, you will see that show up in oil demand. they need a lot of oil. they continue to buy it like it is going out of style. some people think it is. neil: phil flynn, thank you very much. phil in chicago. meantime, be careful all the praise you get. donald trump might be satisfied with the likes of paul krugman saying good things about him when it comes to things like

economics but, be careful who you have on your side. his son eric trump was here a little while ago, this kind of support maybe isn't what you want. take a look. what is he? is your dad a moderate, a liberal? what is he? >> he is anti-waste. he just believes in efficiency. he doesn't believe in nonsense. he doesn't believe in waste. when you say 19 trillion around him, literally, his head looks like it will explode. neil: that was the son's way of saying his father would kel tom this type of stuff. he is not typical republican or conservative, all tax cuts all the time or love business all the time, particularly when it comes to, got krugman ace attention, that he would punish companies that outsource jobs and ship them overseas. it's a conundrum. realpolitiks reporter joins us. it is definitely not your typical republican point of view, right? >> right. donald trump is not your typical republican candidate.

you see how he could position this about a selling point to his base. people supporting trump as we know are people very frustrated not only with american politics in general but their own party. neil: do they know all of his stance? might be aid mirable to some but not typically conservative? >> the interesting thing, trump's supporters don't want to get into the mud of policy and be producing white papers, having policy speeches. that is not really what their intentions are. they want to send more of a message however donald trump said he will outline economic policy or tax policy rather, sometime soon. this also comes as jeb bush is spending this week talking about economic policy. he is going to have a speech tomorrow in north carolina and focus throughout the week on that. so it is an interesting discussion coming from the trump campaign, this raising taxes on the wealthy. neil: yeah. the very, very wealthy. what he is trying to say is,

whatever way you guys tried to capture the party presidency for the party in the past, they're just not working saying that in some words. >> right. neil: i have a populist approach that might cause bumpy ride as far as nomination but ironically could help him in election battle, right? could win over independents with this populist approach right? >> depends whether he turns them away on issues on immigration. something of a balancing act. neil: certainly gaining more than the number is is ticking off. how long do you think that lasts? >> it us interesting. hard to predict how long he lasts. look at donald trump past couple weeks he is appearing more and more like a candidate. he is also hiring lots of staff. he is building kind of traditional campaign infrastructure required. and he is toning down a little bit on certain things. so he is becoming more of a candidate. i would look -- neil: not too much, right? >> exactly. trying to find the balance as well.

why he made clear last week he is not getting endorsement from the rnc even though he signed the pledge. i would keep an eye on some other candidates like ben carson who is gaining in the polls and right in trump's rear view. another non-politician outsider who is really tapping into the same frustration with politics that trump you -- is. they make up 50% of the electorate which is fascinating. neil: thank you very, very much, caitlyn. meantime, there is always that third party run possibility, right? he did sign that pledge but not legally-binding pledge. we have ross perot's former campaign manager on just how big of an undertaking that would be whether trump or anyone else. there are others considering it, by the way. after this. can a business have a mind?

a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive?

>> good afternoon, from the floor of the new york stock exchange. stocks popped at opening bell in care after little better economic news out of china and promises trade data out of europe. since then it really has been sideways trading. dow jones industrial average is is up 292 points, off the best levels of the day. check out winners on the dow. here is what is driving the industrial average. ge, walmart, bank of america, intel and goldman sachs. all shares up better than 2% at the moment with ge leading the way up nearly 4%. have a look at shares of disney getting positive action. shares up 2.25% as disney

announces a deal to expand the movies app in a team partnership with amazon and microsoft.com. netflix, a tough run for the streaming company. shares popped at open but have turned lower, now down about 5%. apple is higher. apple has the meeting tomorrow where they're expected to announce exciting new products. much more "cavuto: coast to coast" after this. (vo) me? i don't just wait for a moment.

i watch for the perfect moment. the one nobody else sees. and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus, powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours. neil: all right. something that donald trump

means it when he says with that pledge he will remain a republican? i guess depends how republicans treat him. but he signed a pledge but staying in the gop fold. former ross perot campaign manager says regardless waging a third party battle is tough one and uphill battle at that. russell, you and i were catching up in the break there. in the case of ross perot, he got 19% of the vote which is staggering but not a single electoral vote. >> right. neil: even when you succeed immensely as he did as a third party candidate, getting electoral vote and getting people to think that you can win at all, that's tough. >> it is tough, neil. the system is really fixed on behalf of the two political parties that nominate their candidates. neil: that is by design, isn't it? >> they have rules and private commission on presidential debates that decides who can be seen by the public and who's views can be heard about it public. it is a very tough road. if donald trump or anyone else

wanted to do it a third party have to be spring loaded ready to launch it by the first week of march of 2016. neil: why is that? >> immediately after the texas primary, presidential primary, you can't start until the day after in texas. you have to be on the ground collecting signatures because texas is a very difficult state to petition. then you can manage all of the others but it is a expensive proposition. probably would be about $15 million for somebody to do it. neil: that is lunch money to him. >> for him. for others it might be a huge undertaking to raise 15 million. but it is a big, undertaking. requires thousands of people all across the country to take clipboards out with petitions on them to say will you sign a petition. neil: in other words, even if trump is dissatisfied the way he is treated or whatever goes in his decision how to remain a republican, if he waits till the convention it is much too late? >> too late.

whoever wants to be independent candidate has to launch the campaign in march to get the ballot status to be on the november ballot. there are other political parties they could go through such as libertarian party but they will probably have their own candidate, determined long before then. neil: they have their own convention, own methodology to achieve that but you mentioned something interest when it came to ross perot, even with 19% of the vote which is staggering because he dropped out and came back into the race. when people were asked would you vote for him thought he had a chance, the numbers would have been much higher? >> exit polling conducted by the news services, voter research services asked people in 1992 that voted for bush or clinton, if you thought perot had a chance to win would you vote for him, the analysis of those who thought ross perot could win in 1992, he would have won the election because of the wedding and other circumstances and getting become in. neil: i remember that. >> if people thought he could

win, he would have won. the opportunity for donald trump if he goes independent or third party candidate is actually there to win. they just have to have a strategy to overcome the wasted vote -- neil: american people have to be of opinion it is not a waste this time? >> correct. neil: you have to be invited to debates. john anderson found that problematic. >> it is problematic. we now going in, republican, democratic chairman that are control those debates are not going to allow a third party in. so you have to build a strategy to offset that. neil: abraham lincoln started out as essentially an extra party, third party candidate, right? >> coming out of the founding of the republican party back then. neil: you need a time and a moment. >> yes. the time and the moment is here. the money just whether or not somebody has the ambition to go against the system as we've seen donald trump's support rise so quickly, it is because he is anti-establishment candidate. neil: that's right. >> that is there in spades for somebody who wants to take

advantage of it. neil: wow. russell, you made history, young man. i remember that. russell has not aged a day. amazing. i don't know how he does that. we told you what warren buffett is up to in these markets. he is a big reason why we're seeing up arrows in these markets. our liz claman is on that and exactly where the sage is putting that dough after this. ♪

i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company.

like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. to me, relationships matter. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals needed. so don't wait. call now and request this free decision guide to help you better understand medicare... and which aarp medicare supplement plan might be best for you. there's a wide range to choose from. we love to travel - and there's so much more to see. so we found a plan that can travel with us. anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp,

an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you in out-of-pocket medical costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now - and down the road. i have a lifetime of experience. so i know how important that is. neil: all right. could this be the warren buffett rally? which have liz claman. you just talked to the sage. what is going on. >> somebody spent $3.5 million for the charity luncheon. he does this every year. benefits the glide foundation and benefits the charity.

his ex-former wife was enamored with the charity. chinese newly-minted millionaire spent all the money to have lunch at smith and wollensky on third avenue. neil: that is who you talked to? >> that is who we spoke with. warren buffett right now is feeling better than ever. he turned 85 last month. but he is also watching the fed. he is not particularly interested in what the fed will do in nine days. however i did ask him, neil, exactly how he views this economy that is always moderately growing, according to the fed beige book that comes out every month. i said to him, you know, the fed kept rates artificially lowell beyond so-called emergency time period. so, these better numbers that we start to see, are they really real? here's the question. here's his answer. there are smart people asking is this u.s. economy a phony economy? >> no. >> no?

>> it is very real economy. 17 million cars are being turned out and people are driving them. home, housing has come back. employment has come back. we have come back, i think, probably better than any industrialized country in the world since the panic of 2008. so i, no. i think the fed it is not phony economy in any way, shape or form. it is very uneven economy. the rich have gotten very richer and there have been all kinds of people left behind. >> i asked him. you obviously gotten richer. he is now worth about the $67 billion, one of the top three richest in the world. he said, yeah. i don't like the gap between the poor and wealthy. he is very much for the earned income tax credit. that tax, which ronald reagan happened to really be enamoredded with as well. neil: sort of like the millionaires tax? >> that was the buffett tax, remember that? he is not sure if any candidates will come up with that once again. donald trump talked about how, you know what? rich should possibly pay more.

buffett would agree with that. coming up at 3:00 p.m. eastern, we have longer conversation. i asked him. he has more than 80 companies, you guys, under his umbrella, berkshire hathaway. many are housing-related. how does he really see the housing economy? is oil hurting him. he owns entire railroad, burlington-northern. he takes on other railroads. he makes declarative statement about his money making railroad. neil: he is not only billionaire advocate the rich pay more. but the guess the distinction is how rich. here we go. >> hillary clinton with cap gains rates going higher. warren buffett to his credit has minimized his own company's tax bill. he did it with, the duracell acquisition, avoiding capital gains tax bill. when you look at paper losses for buffett's holdings at berkshire hathaway, it about tracks the s&p. you know, a little over 11 billion in losses since july through the end of august. and is it his lieutenants that

are making the wrong stock picks? like investing in viacom which tapinged deeper than the market overall? we won't know that for a few months. buffett's holdings are doing very nicely through the center. neil: you don't think he is intrinsically evil? he always seems such a nice guy. i always suspect he is -- >> he cares about one thing. the prize of making the money. not that into spending it. where is your yacht? he doesn't have a yacht. lives in the same house he bought in the '60s. >> likes to keep a lot of dry powder in cash. interesting he continues to buy ibm. >> maybe not the car that neil cavuto has. neil: need as driver. can't be seen in the driver's seat. i look forward to that, 3:00 p.m., liz sitting down. i wonder if they were eating big ol' t-bone at the same time? >> he likes rib-eye. neil: who doesn't. we'll have lot more after this.

>> filet mignon.

neil: all right, high points of the day, 216 points northward as you heard our liz claman, warren buffett might have a lot to do with that. a lot more coming up in next hour with dagen mcdowell in for trish regan. >> neil, glad you didn't kill the rally. thank you for that. neil: anything i can do. >> thank you, neil. welcome to the teleagainst report. i'm -- "the intelligence report." i'm in for trish regan. dow reversing the 272-point loss on friday. climbing back to highs reached earlier in the day. we're trying to get to that level. guess what, people, the nasdaq composite in the green for the year. we'll take that. but are investors out of the woods just yet? or are there more while days ahead? we have breaking analysis in for our own lori rothman live on the floor