in the wake of hurricane michael. i have got a new show, "bulls and bears" that premieres monday night, 5:00 p.m. on fox business network. thanks for joining us. good night from new york. >> announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." maria: happy weekend. i'm maria bartiromo. and what a week it was for the markets. we have a big program coming up. i'm speaking with blackrock's rick rieder. the s & p gave up 2%. then later stacy cunningham is the president of the w yk

stock exchange. she'll be herexclusily rrwiiss sndgyit toke saw their worst start to a quarter in 8 years. concerns about slowing global growth and trade and that earnings may have peaked. it caused a dow jones sell-off of 1,400 points. it was also the start to any quarter for all three indexes since the first quarter in 2016. bearing the brunt of it was technology as microsoft, facebook, and amazon were among the hardest hit. hurricane michael pound the florida panhandle.

the death toll, at least a dozen and it's expected to rise. a million homes from virginia to florida are without power. maria, back to you. maria: a white knuckle week for investors, many pointing to rising interest rates as the culprit. the dow jones industrials gave up 2.25%. the nasdaq giving up% in two days. president trump called out chairman powell on several occasions. president trump: the problem in my opinion is treasuries and the fed. the fed is going loco and there is no reason for them to do it and i'm not happy about it. i think the fed is making a mistake. i think the fed has gone crazy.

i'm paying interest at a high rate because of our fed. i would like the fed not to be so aggressive. i think they are making a big mistake. >> i think the fed is out of control. i think what they are doing is wrong. maria: joining me right now to talk about that and a lot more is blockrock's rick rieder. blackrock overall $6 trillion in assets management. thank you for joining us. what a week it was. assess the situation for us. what do you think went on this week? >> it was the most of volatile week. not a lot of liquidity. rates were gapping on not a lot

of vol. what is drying it is people pulling away. when you drain liquidity from a system and the fed ends qe. you have a system that's more vulnerable. when you have selling it create more selling because there is not the liquidity that there was when you were putting money in the system. the rates are going higher. 3 was the big one. now it's 3.25. we got tomorrowe tomorrow -- wed midday monday. we'll be more stable going forward, but it was a wild week. maria: volatility and vol picked up as well. there was a shift in allocation. people were getting out of stocks and into bonds.

is that happening? >> there is definitely some reduction in equities. the thing that's amazing is what's happening now, what we are seeing in the industry flows, these shift or time. but less money going into stocks and bonds. that pauses. but what people are doing, there is a big asset allocation happening. the treasury, you will see more money coming into short dated. the bond market is experiencing higher rates. what do i do? give me 3%, i will feel good at night and sleep at night. maria: if you can get 3% in a two year, why would i pick stocks which may carry morris can. then i could lose money.

>> when you think about it from a portfolio point of view. i used to own a lot of long data treasuries because they helped my risk. but now the yield curve has flattened. i don't need the long-end rates anymore. i will get the short-end. after this down move if you take free cash flow multiples, they are buying back enormous amounts of stock. i'll loan some equities for upside appreciation. maria: you owned tesla for a while. you own the tesla car. we are going to talk about tesla and apple. ahead of this program my sit-down with stacey cunningham. >> announcer: she has gone

from being one of the few women on the trading floor to running the new york stock exchange. maria's one-on-one with new york stock exchange president stacey cunningham. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges... how mature of them. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪

back pain can't win. now introducing aleve back and muscle pain. only aleve targets tough pain for up to 12 hours with just one pill. aleve back & muscle. all day strong. all day long. a new way to save on travel. now when you book a flight you unlock discounts on select hotels that you can add on to your trip up until the day you leave. add on advantage. only when you book with expedia. hey guys. today we're here to talk about trucks. i love trucks. what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford.

i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these. - [narrator] at athene, we think it's time for the financial world to stop acting the same old way. in today's complex world, you need a partner that is driven to provide you with better solutions for these challenging times, one that is willing to disrupt the industry,

and break free from conventional thinking. (thudding) we are a different kind of financial company. we are athene, and we are driven to do more. bar where we are back with blackrock's rick rieder. you still own equities and you are change your allocations in bonds, but you are have much in the short-term duration. let me ask you about equities. some of these high fliers, trillion dollar valuation for amazon and apple. that's one of the things people said this market needs to come down. initially it was tech that dwragged the market -- dragged the market down. is there 0 overevaluation in

tech? >> i don't think so. people said three to five years ago, it's not like the internet bubble. these are real forms of commerce. the way people use their mobile phone and purchase apparel. the fuel that's powering vehicles, the world is shifting commerce. you canap out a year or two years from now, i don't think they are that high at all. can they readjust? for sure. but i don't think this is like the internet bubble. and we'll realize you are getting real change in commerce. the next stage of that is artificial intelligence evolution of how commerce manufacturing, consumption, how you run your home is evolving. i did a thing on the market cap

today who the 10 biggest companies were. we are in the biggest cost revolution of our time. it's hard for inflation to burst out of control when the telling today is doing what we used to do more efficiently. i can do what we used to do at a fraction of the cost and that has huge ramifications going forward. maria: this could be a buying opportunity this week. >> i think so. we are going to have more volatile markets than you saw a year ago or two years ago pulling liquidity out of the system. this is a huge move that happened very quickly. maria: you own tesla and apple personally. >> yes. maria: and you have a tesla car.

you are a believer. there has been such volatility around that company with elon musk. >> the equity was $34. people forget when they talk about the way it's gone and the range it's gone. we are changing the dynamic around a lot of these technologies. you can operate at a lower cost structure. you can sell vehicles and mobile phones. the price of phones isn't coming down. wait allows you to do, i don't need a radio or gps. i think a vehicle today, it's functionally a mobile phone on wheels. it's the technology. maria: thanks for joining us, rick. rick rirks eder of blackrock. she started on the floor of the

new york stock exchange, now she is running the place. >> it's important to recognize pretty much everybody is touched by that. maria: my one-on-one with new york stock exchange president. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. introducing the all-new lexus es. a product of mastery. experience amazing at your lexus dealer.

a product of mastery. coaching means making tough choices. jim! you're in! but when you have high blood pressure and need cold medicine that works fast, the choice is simple. coricidin hbp is the #1 brand that gives powerful cold symptom relief without raising your blood pressure. coricidin hbp.

maria: this year the new york stock exchange named its first woman president in the exchange's 226-year history. stacy cunningham started as an intern in 1994, but quickly became one of the few women to work on the market floor of the exchange. she then became the chief operating officer. then she was named the first female president in may of this year.

this week i visited her at hide old stomping round, the new york stock exchange. i talked with her about a variety of things including the sell off this week in the market. >> low volatility and lower vols relative to yesterday. the point moves are much bigger considering the strength the market has had over time. but on a percentage basis it's not significant. i realize the move we saw this week was small in terms of a percentage of big moves. but still there is the worry. >> i think the sentiment is not that different from what it was in february. we saw the market sell off in a nor meaningful way than it had. i feel a little bit the same. yesterday felt like february when there was concern and anxiety.

but the underlying economy is strong. the market tends to correct and recover pretty quickly. maria: what are you seeing in terms of investor flows. >> we are seeing the market react to the global news, the chinese stocks overnight suffered as well. you are seeing that shift into places that are more secure. yesterday the stocks that did better were utilities where there was more comfort. but overall we still had a good year even in the ipo world. i think the market will react to this then move on. maria: it's been a slow couple of years when you look at new deals coming to markets. what does it look like in the coming year? do you expect the ipo volume to pick up? >> in 2016 we saw a slowdown in the ipo market. 2017 it recovered. in 2018 we exceeded the amount.

so we are seeing a better year to date so far. we are on target to outpace 2014. that's a positive sign in the ipo market. we have seen over 50 deals come to market. so there are a lot of good stories in the ipo world. maria: what is most of exciting that you are expecting in the year ahead that you can talk to us about. >> a number of tech companies have come to market. there are a few scheduled for the rest of the year. the pipeline is strong. they will be watching the markets closely to make sure it's still the best time to come public. but we have a strong pipeline coming into q4. maria: let's explain what goes on in terms of these ipos. so -- >> the reach is so much broader

than that. our core mission here at the new york stock exchange is to help great companies raise money so they can change the world. that's a good thing. at the same time they are providing oppornities for investors to share in that success. maria: the fifth round table which is securities information processor. what are you expecting in terms of this round table look at market data and how much is that going to cost you? is that going to raise fees for the new york stock exchange? >> what's important to understand is the equity market stwrukture has shifted the past 10 years. that's been driven by changes in technology and the regulatory landscape. the beneficiary of those changes has been iestors. so their costs have come down dwramatically. so the modernization of the market has helped the investor community. so some of the issues that are

debate that you mentioned, things like market data and the fit processor across all exchanges, those create more complexity. and there is a desire to simplify that. but that's not a main street problem. when people read about some of the things in the equity markets today, main street has it better than they had it before. but there are is some negotiating going on in wall street. maria: market data has been critical for investors to invest on their own. tell us about the market data and how you changed data and generated more data for investors. >> the value of data has changed dwramatically. as trading has been fragmented, you need to stitch the market

back together. even professionals are trying to discover how price discovery is unfolding. you can log on to your real-time trading accounts and see a real-time price without spending a dime. that's a good result. maria: we were talking about the securities and exchange commission transaction fee. you were going to washington to speak with some influencers and trying to get them to understand it's putting the new york stock exchange at a disadvantage versus wall street. >> it's putting the companies listed on the new york stock exchange and their investors at a disadvantage. we wanted to make sure we lobbied for them and made their positions clear. many of those public companies have written letters saying they

don't want to be at a disadvantage. there are so many investors they are competing on, they don't want to add one more. we red through the comment letters. it's been a long process where the sec has asked for comments from the industry, companies, investors, institutions and under madaries. we looked -- and intermediaries. we asked the sec to consider an alternative pilot that would achieve the goals they are looking to achieve which is to bring costs down. but at the same time not disadvantage the companies listed on this market. maria: how is this resonating and how will you get information from them. >> our conversations with issuers and investors and corporate dealers who are part of this, they have had a

positive reaction to our proposal. it does create a bit of a compromise. it says let's bring fees down but keep other fees steady. we don't want it to widen out. that's one of our primary focuses. to make sure at the end of the day any changes we make don't end up hing a negative impact on issuers or investors. maria: chinese companies were coming to the new york stock can change. it has a lot of chinese companies traded here. have you heard any ideas out there to put a limit on the number of chinese companies that can come public here because we want to retaliate for china's bad behavior? >> no. about 30% of our ipos have

been raised from outside the u.s. and china has been leading the way on that. we are still a welcoming place for china to raise money in the u.s. it's an area that's closely watched. maria: my thanks to stacey cunningham. it was here. i couldn't catch my breath.

it was the last song of the night. it felt like my heart was skipping beats. they said i had afib. what's afib? i knew that meant i was at a greater risk of stroke. i needed answers. my doctor and i chose xarelto® to help keep me protected from a stroke. once-daily xarelto®, a latest-generation blood thinner significantly lowers the risk of stroke in people with afib not caused by a heart valve problem. warfarin interferes with at least 6 of your body's natural blood-clotting factors. xarelto® is selective, targeting just one critical factor. for afib patients well managed on warfarin, there is limited information on how xarelto® compares in reducing the risk of stroke. don't stop taking xarelto® without talking to your doctor, as this may increase your risk of stroke. while taking, you may bruise more easily, or take longer for bleeding to stop. xarelto® can cause serious, and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all

planned medical or dental procedures and any kidney or liver problems. learn all you can to help protect yourself from a stroke. talk to your doctor about xarelto®. to help protect yourself from a stroke. so, they say that ai is the building block of the future. super. but today you're building wind turbines. morning sir. chief, the blade isn't passing quality gate. that's why you work with watson. i detect frictional loss on the midspan. it can detect the tiniest defects from just a few images to help production stay on time and on budget. i optimized the fiberglass finish to reduce frictional loss and maximize airflow. i was also part of the maximizing. for ai that can do more with your data, choose watson. hello. the best ai for the job. a place with one of the highest life expectancies in the country.

you see so many people walking around here in their hundreds. so how do you stay financially well for all those extra years? well, you have to start planning as early as possible. we all need to plan, for 18 years or more, of retirement. i don't have a whole lot saved up, but i'm working on it now. i will do whatever i need to do. plan your financial life with prudential. bring your challenges. maria: get ready for a big week of earnings next week. that will do it for us. next week, price waterhouse ceo tim ryan. i will see you sunday morning on the fox news channel. congressman jim jordan and john ratcliffe my special guests. tune inner weekday and start

smart 6 to 9:00 a.m. eastern with morning with maria. have a great rest of the weekend. see you next time. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.