our thanks to tony dwight howard -- tony dwyer. alix: coming up, former pimco ceo mohamed el-erian gives his take on the market turmoil and the fed's neck move. -- next move. ♪ olivia: welcome back to the bloomberg "market day." i am olivia sterns here with alix steel. alix: the dow is up by 610 points. julie: back down again. if you look at the major averages, we're seeing the fullback starts to stephen after epin and make a comeback. volume on the s&p 500 trading 130% above the 10 day average. wereer today it was double approaching triple. it has come down a little bit or slow down a little bit. here you are looking at the volume on the s&p 500, and obviously we're not finished out the session and the volume is approaching the full day spray -- spikes in volume. the selling is indeed on heavy volume. another market indicator are the 52 week lows. this goes back a year on the s&p 500. right now we have 100 82 week lows versus two 52-week high. we -- they were touched at some point during the session. an acceleration of the 52-week

with me dagen mcdowell ingenuity is tony dwyer.r as the dow comes off of the record-breaking day at the blue-chip job than 619 points. we have to put that in context for you because it has been quite a week. we've seen several big days. for those listening on the radio, showing the damage done through the market and likely your 401(k). over the course of the last six trading days, the dow was down more than 1000 points. we will talk to tony and other experts throughout the show about why you should do during these uncertain times. take a look at how to shape up this morning. stock index futures pointing to another rally on the open. dow futures up 191, s&p futures up 21. nasdaq futures up 60. market mover later this hour, the latest reading on economic growth. the report at 8:30 a.m. eastern expecting a growth of 3.2% for the second quarter. china leading the way overnight. shanghai composite rallied 5% or close of 3083. the nikkei in japan with a strong close. the market over 1%. the gain of 197-point. europe followed a minor trip

with us is tony dwyer, chief u.s. strategist, the second biggest bull on wall street. ny, a lot of your fellow strategists say, yeah, it's possible the s&p could end with a gain on the year still. it's hard to find someone talking the 19% gain. >> just to be clear we put in the all-in call monday. the note's out there. the prior thursday it was clear that there's only one or two things or maybe both that will get the market to make the next leg higher. it's deeply oversold condition that's historic like we got or you get the fed to move and the bond market doesn't blow up so you take away the last negative. i don't think it's new news china is slowing down in the emerging markets and yet the u.s. economy is accelerating here in the quarter. i don't think it's about that. i think it's about the structure of the market and the fear of the fed not getting people to really get that umph back in. last monday it got oversold enough using all the measures that we use. >> so you're willing to say that we saw the lows last week? >> historically it's interesting. i wrote it down

joining me this hour, sandra smith and tony dwyer. upcoming republican debate dominates headlines. donald trump center stage for the 9:00 p.m. contest between jeb bush and scott walker. texas governor rick perry and hewlett-packard ceo carly fiorina among the participants in the 5:00 contest. fox news's bill hemmer told us yesterday how important the first debate will be. >> some suggested the kiddies table, i don't see it that way. >> i don't see it that way at all. >> possibly women at 5:00, that is an enormous opportunity for you. >> that first debate begins at 5:00 p.m. eastern on the fox news channel. coverage for the second debate begins at 8:50 eastern, fox business and fox news have all you need to know leading up to those debates. fox news confirming the fbi is investigating the security of hillary clinton's private e-mail server. david kendall telling ed henry the fbi involvement was expected after the matter was referred to the justice department. the fbi looking to secure of thumb drive that contains clinton's e-mail. pres