phone. charles: caroline i got this phone yesterday. my office ordered it. this bad boy weighs 48 pounds. i can't put it in my back pocket. i don't know what to do with it. i should have registered it as a weapon so i'll turn it in for a dumb phone. >> charles, think about it . that is basically a minicomputer so with a smartphone rather than a dumb little nokia which i kind of want a flip phone you're inundated with stimuli on that thing day in day out from social media, from youtube. it's really distracting and i think maybe business professionals actually just want something simple to communicate in a very basic way. charles: and a fax machine. i still have a fax machine. ladies thank you both very much. markets hanging in there but its got a different vibe than yesterday. liz claman, it felt like we were going to rally into the close today. i'm not sure. liz: excuse me. did you see? i mean, did you see what the dow has been doing? pretty much during the session, we almost hit a record high.

charles thank you, after steep declines last week, the market hope to close out this week on a pretty high note. the dow came within 30 points of a new intraday record. it does need to gain 466 points to set the mark. right now we're up 277. s&p 500 up 24. the nasdaq up 94, off the highs of the session, russel up 44. now, reminder anything can and does happen in the final hour of trade. we do know that. however, look at these week-to-date numbers. the nasdaq looks to clock a 5.8% gain, just for the five days here, the s&p up 3.9% they have kind of been neck and neck with the russel 2000 up 3.9% and since the opening bell monday morning, the dow has gained about 1.5%. okay so that's the laggard but you can see on this one week chart. the big move down and then the big move up so some of this is driven by rate cut

optimism. ahead of next weeks two day federal reserve meeting the markets are pricing in let's look at it, 100% probability. we will see the first interest rate cut in more than four years. the very latest fed funds futures we just put them up on your screen. show this of course the betting mechanism for rate odds, a 48% odds. probability that the cut will be a bigger 50 basis point cut. half a percent versus 25 basis points or quarter of a percent. we should look at the two-year treasury, the action sure looks like its front running the fed. now the yield on the two year is at 3.58%. anything below 3.6%, that is a new 24 month low. 10-year yield closed yesterday at 3.68% is below it now at 3.65% so let's just assume, on this friday, the 13th, that the fed does cut interest rates next wednesday. whether it's 50 basis points or 25 basis points, should investors brace for stocks to

spike, or sell on the news? we've got to get you ready for next week to the floor show traders who are going to do that, from the floor of the new york stock exchange, we've got teddy weisberg along with chief strategist stevesausnick. teddy this is the most telegraphed fed rate move and fed meeting in 30 years. something like that. a rate cut is almost a sure thing. the issue now is by how much? what's your gut? >> my gut is it'll be 25 bps and my gut is it's pretty much baked in, and in fact if it's a half of 1% perhaps we'll get a positive bounce out of that but i think anything more than a quarter is probably a little too aggressive and maybe investors will start to connect the dots that perhaps the economy is weaker than we've been led to believe and clearly we know how the market reacts to anything that points to a negative economy and it's not up. liz: am i hearing you say it's almost better for the markets at

least if it's a 25 basis point cut so that there's no shock? >> yes, and i think it's pretty much baked in. i think it's probably a good case at least in the short-term to sell on the good news. it's hard to believe depending on the message of course from the fed but it's hard to believe that 25 bps has long since been priced in to the current market. liz: steve, when you look at the past five days of action, it is pretty darn impressive, considering that last week, we saw an over-sold condition. did we not? so what do you think as we continue to watch awaiting on the fed after the fed then it's what? back to earnings, grabbing the reigns of the market focus? >> yeah, liz. you know, i think that one other thing we have to keep an eye on is the dot plot at this meeting because we still want to figure out what the path will be. whether it's 25 or 50 and i'm with ted on the 25. what will that path be and how

will earnings react to it? so yeah, we've got earnings season coming in mid-october sort of once again, every quarter, and the problem we have to wrestle with here is if the fed is really signaling the economy is worse than we're thinking, how does that reconcile with the double-digit earnings gains that are priced in for the s&p 500? so we need to hear good guidance, and a stock like adobe today was, that short across the bow again, where the stock is priced so it was priced at the 44 pe, so priced very aggressively. their earnings were phone. there's nothing wrong but they were light on the guidance and they got punished so this is the key. the guidance that will come out during next earnings season is really going to be what's going to set the tone for the months to come even more than the election of course which is hard to ignore. liz: yeah, adobe down about 8.7 perrer. by the way the dow be even higher than it is right now, teddy, if it weren't for boeing. of course the machine voted last night to strike, and the 737

basically, that production is halted. 94% voted to reject. 96% of the machinists union voted to strike. its been 16 years since the last labor deal, and so this is all the way at the bottom of the dow by a long shot boeing down three and one-third but jpmorgan is down 1.25. you look at financials right now teddy, is there any sort of opportunity here on a day liked to to pick-up a few of these on the cheap? >> well quickly, to boeing. you know, boeing, it's hard to imagine they could have any more bad news. i would have to think as a trader, i think boeing is probably pretty interesting at current price levels but away from boeing, liz, i think the trade is actually with the prospect of lower rates, i think dividend-paying stocks are going to become much more attractive, as the money-market rates will start to come down, as the short-term treasury rates will start to come down i think, folks are going to start to

gravitate towards the dividend-paying stocks, for example, mlp's, epd, etpaa, good examples but look at verizon, and telephone. i mean, pretty boring, old market stocks making new highs in the current environment so i think the shift is going on and there will be other sectors that will benefit also, lower rates will basically float a few ships that haven't been floated for a long time. liz: tasty yields, but steve, give me your sense, because as we've watched, people are rushing into things like real estate investment trusts. real estate has been a winner over the last couple of weeks, because its got a yield. >> well, yeah, i've been on the same train as ted in terms of the idea of liking the idea of allocating more money to dividend stocks because they provide a bit to your portfolio. in the case of reit's which let me start by saying they are

perhaps the most heterogeneous sector because you have everything from office buildings to multi-family housing and egeverything in between but if u have enough cash to pay a big fat dividend there's something to be said and considering most real estate companies are aggressively always borrowing money to do acquisitions and refinance their portfolios, lower rates give them a break, so it's understandable why people have been moving a lot of money into reits, although i do caution that you have to be pretty selective either a big portfolio of them, via an etf, or be very selective in the ones you choose. liz: yeah. well, considering that there is a drop broad spectrum you have data center reits like you said and single family home reits. great to have you both on friday the 13th. teddy before we go, are the floor traders a superstitious bunch because today we're looking at fortune favoring the bulls. >> i don't think so.

if you're superstitious here you get in big trouble real quick. liz: [laughter] >> but i think you hit a pretty good nerve early in our conversation. last week, they were throwing the baby out with the bath water and this week is a complete reversal and the market has been quite positive and the breadth has been positive. all of which is good. the real issue and the very short-term is any rate drop already priced into the market and my sense is from a trader point of view, the answer to that be yes, but you know what, who knows? we'll have to wait and find out next week. liz: and we are going to be all over it. teddy, steve, great to have you on this friday. of course fox business ahead of it and right on the day is going to have all your fed day action wednesday, for the rate decision and jerome powell's news conference, where the reporters dive in and start peppering him with questions. you will see it commercial-free right here, on fox business. it begins at 1:00 p.m. eastern with complete post-game analysis

on the "clayman countdown" 3:00 p.m. the demise of that that nippon steel/u.s. steel deal may have gotten the presidential pardon. we'll tell you why u.s. steel shares are popping as the white house drags its feet and later the carlyle group co-founder david rubin stein is here to tell us if he thinks presidential candidates kamala harris or donald trump are ready for the highest calling. that's the title of his new book on true leadership. that and much more, straight ahead on the "clayman countdown." dow jones industrials powering higher by 273 points.

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liz: fox business alert. u.s. steel is powering higher,

by 3.9% on a report that the white house will not immediately block nippon steel's $14.9 billion bid for the company. the washington post reports that the biden administration still opposes the deal for the japanese company to swallow up the american steel maker, but an official decision might not be made until after the presidential election. you can see the spike, just before noon eastern, when that report hit the tape. this as some members of the steelworkers union now warn the deals collapse could ignite an economic crisis for pennsylvania steel belt. are you starting to see the political aspects here, pennsylvania is a key battleground state. in a last ditch effort to save the deal last sunday nippon and u.s. steel sent a letter to president biden warning, pretty much the same thing. we've got more news out of the white house that is sinking chinese retailers at the mu parent pdd holdings, alibaba

and jd.com are tanking although alibaba is down just under 1%. the rest are more serious here. the biden administration taking shots at chinese e-commerce giants for abuse and overuse of the deminimis exemption. that's a rule that allows packages with content valued below $800 per-person to enter the us without paying impact fees. the white house said it will take executive action to curb the trade under this rule and propose a new one that will force these companies to be subject to the tariffs. the administration said it's becoming increasingly difficult to target and block illegal or unsafe shipments coming into the us under the current rule the number of packages from the chinese e-commerce giants like temu and what's the other one? sheshein entering the us has s. rh shares or better known

as restoration hardware are jumping after the luxury home goods retailer reported better-than-expected fiscal second quarter results. the stock is up 22 berkshire 22. demand accelerated during the quarter rising 7% year-over-year while it expects the momentum to continue through this year and into 2025 the home furnishing company invested heavily for a potential downturn. rh called the housing market the most challenging in three decades but is now somehow seeing demand return in possible preparation for a rebound. the company did cut its outlook for the year slightly, saying market conditions still remain challenging until the federal reserve cuts interest rates. could be next week, but once it does, the housing market at least the belief is, will bounce back. we should look at rival way fair. way fair is a lower price point, home furnishings company up 6%. investors are hitching a ride on upper, the ride hailing firm

expanding partnership with alphabet waymo to offer robotaxi rides in austin, texas and atlanta, georgia next year. the autonomous rides will be available through the uber app for riders to request a trip, unlike los angeles and san francisco, where requests are made through the waymo app. waymo is one of the leaders in the self-driving race with service in five us cities and more than 22 million rides given through june of this year. we've got uber up 5.6% and by the way my nephew roy took one of the waymo, just showed up there was no driver in the car. worked perfectly. alphabet's google making big headlines this week. we are going to talk about that in just a minute because it is day five of the blockbuster trial that could upend google's dominance in the ad tech market. we've got a live report from the virginia courthouse where tech tensions are running high as the government accuses the tech giant of being a monopoly that must be broken up.

what does that mean for the stock? and is the nation and maybe somewhere near your neighborhood ready for many nuclear reactor s loaded on the back of trucks? one company has plans for power plants on wheels. the ceo is here to explain how they work, and why the faulterring us power grid desperately needs them it's a fox business exclusive. the "clayman countdown" is coming right back. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions

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liz: fox business alert. google's do know evil motto apparently did not pertain to its quest to crush the competition in the ad tech market. that according to the federal government. we are now day five of the explosive trial in alexandria, virginia. the government is trying to prove that the tech be home health has a monopoly in the industry and bundled its publisher and advertising tools together in order to maintain a dominant position in the marketplace. grady trimble has been watching all the courtroom drama, joining us live from the federal court house in virginia. grady? reporter: liz, to boil this down for you, basically, what this trial has to do with is those display or

banner ads you see pop-up on websites when you visit just about any website including for many publishers who post content on those websites and over the past five days we've seen the justice department calling a number of witnesses like former google employees as well as executives at competing ad tech companies and what the doj has been trying to do is paint google as this massive player in the online ad space that uses that power to block the smaller competitors from really gaining ground on their market share, thereby leaving those public liberals with fewer options. i want to show you part of a document shared in court this week from 2009 . it's an outline of google's display advertising strategy in which the head of that division said i really believe if we execute on this stuff we can crush the other networks, and that's our goal. the question is, whether by trying to crush the other networks they used illegal

monopoly tactics and that's what the doj is alleging here. thursday, in court, the doj's attorneys played clips from a meeting in 2019 in which google's publisher customers complained to the company that changes google was making seemed designed to help google not the publishers an those publishers said it took control from and hand tied them but a former google employee testified the changes would help publishers make more money. the doj called to the stand two executives from competing ad tech firms to google who testified that the tech giant makes it difficult for them to play in this space, but google's attorneys on cross-examination pointed out that both companies saw more than 20% revenue growth on an annual basis, and internal google documents show google considers the ad tech market to be highly saturated competing with the likes of amazon, facebook, apple,

verizon, comcast and a whole bunch more. google attorneys have also showed documents from google's competitors describing the market as intensely competitive, so liz, that's seemingly undercuts the argument from the doj that google is the only game in town. obviously, you've seen google stock this week, still up on the week despite this ongoing trial. liz? liz: grady trimble thank you very much. sitting on the edge of your seat kind of thing, many ramifications. the stock up just about 2% right now. clean-up and recovery efforts are well underway in louisiana after hurricane francine tore through the state on wednesday. at this hour, there are still several thousand people without power in the state. in fact it turns out to be about 99,000. well first responders work around the clock to get the electrical grid back up and running, one company is developing right now a portable nuclear reactor that could

treck right into these hard hit areas and get power up to a thousand homes and do it for 15 years without refueling. how do they work? they are called nano trucks, and when can they get on the road? most importantly, are they safe? joining us now on a fox business exclusive, is nano nuclear energy ceo james walker. james, welcome. this got a lot of people interested. at fox business we said we've got to get you on because we know there are troubles with the grid. we know that nuclear is a clean energy. first tell our viewers what your nano reactor s look like. explain how they work? >> so the idea with these systems are we want to make a reactor as small as we possibly can so using innovative technology we remove the coolant to shrink these things down to a container size and the idea here is that we want to be able to ship this anywhere in the world to any remote location and you mentioned disaster relief just a second ago too and this is one

of the areas we want to put it. not just mining projects, remote habitation, island communities. andrew cuomo recently joined our board of advisors and said when puerto rico was hit by hurricanes and power was out he shipped a load of diesel generators there but it's more consistent power, clean and you don't know you had long a rebuilding effort will take so a number of years, you can use these things. liz: these things are on the screen. they look like trucks, i don't know, 18 wheelers, semis and they have a nuclear power plant, right, attached on to them? so they could roll into let's just say hurricane francine hit areas right now and how quickly could they power up people's homes? >> so the idea is it be almost immediate. we want to ship these things input them down, plug them into the micro grid and start-up with energy so trying to avoid

the capital expenditures infrastructure at the other end. just stay within the container. nothing will come out, go in, put down, plug in and let's get power out of it. liz: you are developing them right now. when could these micro reactor s hit the roads? >> so we're through all of the design work now and going to physical experiment work just to build up that prototype. that prototype will need to go into licensing procedure with the nrc. once that licensing is complete, we'll be looking to try and deploy these roundabout 2030 as a commercial product but we'll be confident if the commercialization sometime around 2027-2028. liz: hold on, james. i love your optimism, but the biggest problem with nuclear power plants has been the permitting process. it takes something like 20 years to even get approval to start building. what makes you think that

the government would allow people to strap a nuclear reactor on to the back of a truck that can drive around and i'm sure you're making them safe, but this could take a longer time could it not? >> i'm glad you mentioned the government because they need nuclear power now. they are in a bind where that's why there's so much bipartisan support for these things so they have now issued a mandate on the regulator to make sure the licensing process is reduced to a maximum of 25 months. so that's actually from the government already, so once we put in and look even my timeline there, 2030, 2031 doesn't account for that reduction in time, so the mandate comes through, 25 month licensing process, because in the pattle, there's been barriers put up to nuclear power and they are trying to remove them because of the glut on energy. liz: right. when you say bipartisan, the advance act which president biden signed into law july 9 i believe had an 88:2 vote for it in the house.

we don't get to see too many bipartisan votes like that here in the united states and our government certainly. we got to talk about the energy suck from these data centers that are used to power a.i. just yesterday, ceo's from nvidia, open a.i. and anthropic met on capitol hill at the white house to discuss the need for increasing the energy supply. how serious is the drain on the grid from these data centers? >> oh, these things are very energy hungry and they are getting exponentially energy hungry so even the tech industry is facing not being able to advance further by about 2027, 2028 because they are running out of power. trump even spoke about it recently a couple weeks ago and he's thrown in his support for these small modular reactorr requirements for the country to double based on these hungry tech industries but he's actually being conservative. it's probably even more than that and need a substantial amount of energy to power these

things. liz: i do have to ask about safety. and besides, our viewers, this is an investor audience. they watch the stock which has done an unbelievable i guess high jump this week alone, because you made an acquisition that is helping to build up the company ahead of these trucks, but where's the energy, the nuclear energy? is it uranium is inside these trucks? >> it is so there's going to be uranium inside these trucks and obviously we don't want to remove it and at the moment the nrc is making provisions you can remove a fully fueled reactor by road. that's even being amended because there's enormous pressure now on the infrastructure of the states to have more power so all of these allowances are being made for this and you mentioned safety and i always like to say that if you look at something like gigawatt hour, nuclear beats out, it's the safest form of energy, beats out wind, solar so if you saw a shrinking reactor down in size to what we're doing it's safer and safer

still because the mechanical complexity goes down, passive cooling features come into it where the desatesser scenarios with the big reactor so it gets safer and safest power source. liz: i think the world is getting used to feeling okay about nuclear energy, and the stock is very interesting. when we started the conversation, it was up 15%. it's up 22% right now. so there's a lot of interest >> [laughter] thanks maybe i should credit you for that but obviously that's wonderful to hear. liz: listen, we just tell the story, and investor reviewers get to make their choice but james please come back. we want to watch the development of these trucks. thank you so much. >> thank you very much. looking forward to be back. liz: the aforementioned former president donald trump rolling out another plank of his economic plan, promising if elected he will trump deserves taxes on overtime pay. up next the co-founder and

co-chair of the carlyle group, billionaire david rubenstein has interviewed many a president including donald trump. he shares his thoughts on the campaigns and economic plans of trump and vice president kamala harris and what they might mean for the stock market and from a young age, take a look. this girl had a love of chocolate chip cookies most kids do, right? but when she was diagnosed with stage two cancer she vowed to totally overhaul her diet. no dairy, no cheap oils but she couldn't give up chocolate chip cookies. after many recipes, healthy recipes she tried to think about how she could turn this into a business. she walked into a local whole foods store to pitch her cookies to the buyer and well the rest is history. from that one store in california, lauren castle's cookie dough, sweet laurens has led to a company that now has its products in more than 25,000 stores nationwide, target, cvs,

amazon, everywhere, kroger and now with a variety of cookie dough flavors, pizza crust, puff pastry dough, and breakfast biscuits lauren of sweet laurens knows how to satisfy that sweet craving but in a healthier way. you've got to hear the story of sprouting a business from something as fearful as being diagnosed with cancer. it's my brand new everyone talks to liz podcast that drops tomorrow i want you to listen to it, let me know what you think. apple, google, spotify, iheartradio, we are everywhere you get your podcasts we're coming right back don't go away dow jones industrials gaining 288, the nasdaq up 111.

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work. we have the best numbers in the history of our country by far, not even close, and there are companies leaving, because they cannot stand what's happening right now to our country, and one of the reasons i'm doing this today is to let them know, you're not going to have to leave because we're going to take care of the problem. liz: former president donald trump speaking at a press conference in california this morning, after announcing his plan to cut taxes on overtime pay for hourly employees. the gop candidate on his way to las vegas, nevada right now where he will hold a campaign rally tonight. meanwhile, his democratic opponent and current vice president kamala harris is headed back to the keystone state tonight for a campaign rally in pennsylvania. the presidential candidates vying for the most coveted office in the nation, maybe in the world. so one of the most prominent figures on wall street has written a book about the men who have held the oval office.

billionaire david rubenstein is the author of the highest calling, conversations on the american presidency. david, everybody makes all kinds of promises. both of these candidates, kamala harris and donald trump, are promising to cut taxes on the middle class. what do you make just of the news of donald trump's announcement today which is pretty dramatic that he would cut taxes off from overtime pay for hourly employees? >> well it's not an uncommon thing for presidents to want to announce a reduction in taxes through the middle class. getting it done th through congs is often not as easy because we have $35 trillion debt so no doubt whoever is next president will try to get a tax bill through because the tax cuts that trump got through five years ago, they were going to expire and so they have to either be extended or eliminated in which case there will be some tax increases

for people. i suspect we'll have to wait and see who controls the house and who controls the senate, before we really know what the tax bill will be like, and will be a lot of uncertainty for a while. i have no doubt donald trump would like to do what he said and i have no doubt that kamala harris would like to do what she said, but everything is really done in the ways and means committee and the senate finance committee and we'll just have to wait and see. liz: nobody with all of these promises is mentioning how they would pay for these things and it certainly didn't come up in the debate this week and that was a little distressing for people who are worried about that 35 trillion in debt and look at the deficit that we have a very large deficit, just servicing the debt alone is a trillion dollars right now, more than what the pentagon spends. i have a problem understanding though, why don't americans feel this yet? or do they in some hidden way, because everybody just wants a tax cut and we keep being warned

that the problem is really going to hit us smack in the face at some point. when? >> if i was smart enough to answer that question, i'd be in a different job i suspect. i don't really know. i've said for many many years that you can't do this forever, and there's an old saying in the economics world if something can't go on forever eventually it won't but for the time being we've been able to borrow a fair amount of money and as a result we have been able to convince other people around the world to buy our currency and buy our debt. i suspect it can continue for a little bit longer but not forever. as you pointed out we're spending about a trillion dollars a year on interest. typically, when you spend more in interest, on your federal indebtedness as a national country, you have problems if spending more than on your difference budget. right now we're spending more on interest to service a debt than on our defense budget and if you go back through other countries and look when this happened

before in europe it generally led to a devaluation of the currency at some point. the dollar has been really strong for years because there's no reserve currency competing but i don't know if this can keep on forever. if i were a politician running for president, i would certainly want to promise middle class tax cut, i'd want to promise lower class tax cut, i'd want to promise upper class tax cuts but i just don't know whether you can pay for am of them and eventually you'll get some people behind closed doors in the house ways and means committee coming up with something that we'll have to live with but it's really very unclear as to what we can afford. i hope we can afford a lot of things people are promising but i'm skeptical. liz: yeah, we've got to shrink the government if we're going to be able to do all of these things both candidates are promising like cutting taxes on tips. that's a big one that donald trump floated and then kamala harris followed with her sort of thumbs up on that. which one, right now, as you look at both of these candidates looks like they be better

for the economy and separately the stock market because david as you know kamala harris' people have not yet totally pushed back on at least the idea of basically, you know, when you talk about unrealized taxing, unrealized gains people have from their stock holdings and that would affect private equity which is your business. >> i am skeptical that that can pass the congress because the examples where unrealized gains were tried to be taxed in other countries didn't really work out very well. it's just very hard to administer and you have too many people trying to play games to get around it so i'm skeptical that can actually get done though i recognize the political appeal of talking about it. but you have to remember, there aren't that many extremely wealthy people in the united states. the biggest source of tax revenue is almost always going to be from middle class, because there are just more people in the middle class than the upper-incomes categories, so right now, if i were running for president, i would say i'm not going to tax the middle class but in the end you find that the middle class or people

making $400,000 or lower, those people are roughly 98% of the population, so you've only got about 2% of the taxpayers making let's say 400,000 or more which is a lot of people but still it's not enough to service all of the debt and all of the problems you want to address with just taxing wealthier people. now i realize because of my own economic situation, people are not surprised that i would say that, but most economists would agree if you're going to get more tax revenue you have to tax the middle class or cut spending and cutting spending is very very difficult to do, and increasing taxes on the middle class is very difficult to do so i wish i had an answer. if i had an answer i be in iowa, new hampshire a long time ago as to your question about whose better for the stock market it's hard to know. over the last 75 years when the republicans have been in the white house, the s&p 500 have gone up on average about 6.4% a year. when the democrats have been in the white house, on average, over the last 75 years, the s&p

500 has gone up 6.6% so it doesn't make that much difference in terms of the stock market because there's so many exoginous things that are beyond the control of our president, so tell me whose controls the house, the senate and the white house and i'll tell you what's likely to happen in the economy. but really, the economy is pretty strong right now and i don't think either person is going to be able to ruin the economy. i think it's just too early to tell what be best for the stock market for sure. how liz: david in your book "the highest calling" you focus on many presidents whether they be bill clinton, donald trump, joe biden, harry truman, john f. kennedy, did one of these leaders have the right recipe for figuring out how to run the country without spending too much? >> well of course every president has some strengths and every president has some weakness. what i try to do is interview some of the living presidents and scholars about presidents who are no longer alive and

tried to convince people that they should learn more about their presidential candidates so that they feel more engaged in the system. right now 80 million people, 80 million people will not vote in this presidential election. we'll have about 160 million people voting but 80 million who are eligible to vote are not. i think our democracy be much stronger if more people voted and more would feel that the government is stronger that way so i'm encouraging people to read more about presidents, particularly the ones i talked about in the book. learn more about our history and ultimately more about the candidates this time. i did have an interview with joe biden in the book. i had an interview with donald trump in the book. the book went to press before kamala harris was announced really as the democratic nominee but i have interviewed her in other occasions but it's not in the book. however, i think the book is designed to educate people about american presidents hopefully they will feel they learned something about the presidency and be more interested to learn more about these candidates and actually go out and vote and

as we know, in this election, there's only going to be, the people that vote in about five or seven states are going to have an enormous influence on the outcome so particularly in those states they should get out and vote. liz: yeah, that is a perfect way to end it. the book is called "the highest calling" conversations on the american presidency. get some knowledge, people, from this and get out and vote. david rubenstein, thank you so much we are coming right back dow is up 293 points. (vo) a law partner rediscovers her grandmother's artistry and establishes a charitable trust to keep the craft alive for generations to come. from preserving a cultural tradition to leaving a legacy, a raymond james financial advisor gets to know you, your passions, and the way you enrich your community. that's life well planned.

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liz: jpmorgan chief jamie dimon's name has come up in association with a potential trump administration position, that's already been out there, but charlie gasparino if says dimon might be more willing to accept the the position if kamala harris lands in the white house. charlie, what type of position and where are you getting this. >> this is breaking news from inside jpmorgan. what sources are telling the fox business network is the speculation over trump, him working for the trump administration -- obviously, treasury secretary, i don't think he's take anything else. maybe secretary of state, but his wheelhouse, as you know, is finance and banking, it's overblown in terms of the trump side. and i know donald trump does have some sort of a fixation

with jamie dimon, but it's not them telling me you can expect jamie going if he goes to washington. if kamala harris is elected, the chances are much greater, i'm hearing from people inside jpmorgan. and the reason why is this, he's a democrat, you know? he does have a woke side. he, he's a little bit wary of the turnover in the trump administration, particularly at the top. although steve mnuchin, the former treasury secretary, was there throughout trump's term. but donald trump churned through a lot of cabinet members. so if kamala harris gets elected and she asks, there is a good chance that jamie dimon would go. now, western point out that, you know, the -- we should point out that the people inside the harris campaign are considering dimon for a post, treasury secretary. so his name is up. but, you know, she first has to get elected. one other potential impediment, liz, and this is key, is that the democratic party has sort of vetoed, there's a veto on -- or

a put, i guess you could say, on cabinet choices by none if other than kamala harris. excuse me, definitely kamala harris, but none other than elizabeth warren. and she's the far-left senator, indiana-banker. she's the reason why -- anti-banker. she's the reason why there's a lot of far lefties in the current biden administration. she made as good as dimon is at his job, and we all know he is good, you know, runs a very profitable bank, pretty scandal-free, america's banker, he's no friend of elizabeth warren's, and she could theoretically veto that. one other hinge before i leave you, liz, brian moynihan, the ceo of the secondest bank is under pressure to, essentially, pick a successor, have some sort of a succession plan. he wants to stay there five year, but from what i understand, there is some board pressure on him to do something, you know, name some names, you know, have something in writing.

he doesn't really have such a succession plan right now. we should point out that bank of america spokesman only is saying that they have no planned announcement coming. back to you. liz: charlie, thank you very much. all right. we are looking at, actually, lucky 13 for the markets on this friday the 13th. joining me now with $38 billion in assets under management, chief market strategist ryan dietrich. ryan, we're going to close out the week with lots of green, particularly with the a nasdaq. let's shove it forward to next week9 and the fed decision come wednesday. what are you doing ahead of that for your customers and clients? >> yeah, liz, happy friday the 13th. we made it through okay. [laughter] so, all in all, let's just -- we've been overweight equities for a while. we still think stocks are higher at the end of the year, but let's not forget the second half of september historically can be troublesome. so with the fed out there, obviously, the election coming, we're still not out of the woods, we think. but one quick comment, high corporate -- corporate bond high

yields just hit, like, a 2-year high today. there's this monster under the bed, we don't think high yields would be doing that. that's important to remember in -- when those scary headlines come out. liz: yep. you like small and mid caps, right? >> absolutely. those are actually a cheap part of the market historically, and is you look at earnings growth into next year, liz, it's small and mid caps. mid caps quietly have done well, and small caps are doing really well again today. we like those areas still. liz: yep, they sure are. oh, look, ryan, there's the bell. perfect timing. a 298-point gain, for the dow, russell up 32.5%. all green -- 2.5%. monday, a, the -- at&t's ceo. ♪ ♪ david: hello, folks, and welcome to a special edition of "kudlow," i'm davi