for the dow. ou're tempted to convert 401(k)s to cash before another correction hits. let's ask the guy who would know. national securities senior investment strategist. listen, i can understand why people want to do that. they feel something bad might be something because trees don't grow to the sky. should we be converting 401(k)s to cash? >> the answer, easy one, i don't think so. liz: why not? >> look back starting 10 all the way through the summer of 2015, 11, 12, 13, 14, 15, we had a 5% correction in the dow. every year, after that correction, between the summer and thanksgiving we closed at highs or pretty close to highs. so even in 2011 when the market went down 17% between the summer and thanksgiving, it still rallied back to almost make new highs. liz: by january, right? i remember that. >> absolutely. people sat on the sideline and i was great person i sold out, those people are still sitting on the sideline looking for entry point. my advice, continue to stick with the plan. dollar-cost

check out the dow right now futures up 41 s&p up. nasdaq futures up 11. >> energies week let's check out where oil is trading. down 1 dollar yesterday and 32 cents today, gold 1351 announced. >> meantime the dollar, uk pass 129 so still dropping down several days in a row. in fact all the currency's are lower against the u.s. dollar this morning. the euro uk pound and japanese yen. >> a 10 year treasuries 1.1% yield. ali baba before the opening bell and was expecting the chinese on line retail giant to record -- reported strong first-quarter revenue expected to jump nearly 50% from last year. earnings are forecast to increase about 13%. the company is expected to get a boost from its cloud computing business. one analyst says china's industry is on the brink of massive growth. ali baba shares hit their highest level in more than a year yesterday and are higher again in free-market states and another 52 week record. >> we are watching ali baba shares in retail expected to move big time today in the big question is are you still going t

about the same as the dow, down about 1/4%. t the nasdaq is this technology heavy, of course. it's down about the same amount about 1/4%. so individual stocks are moving from the get-go this morning. apple has gone to 109.80. incs stake in apple. home depot raises the futures for the future. and volkswagen reportedly in talks with justice to settle criminal charges. none of the less, it's down below $30 a share. aetna, losing money, dropping out of some obamacare exchanges. dead flat this morning. big tech names, we check them every time. facebook down a fraction 123. how about alphabet. had been at record highs pulling back two bucks today, 803. how about microsoft, all-time highs very close pulling back to $57 a share. amazon, where is it? 766, very close to the all-time high. they're all at or near record levels. so, we'll be asking, should we sell them? should we sell the whole market? here is ashley webster, liz, shah galani. >> i'm going around the block here, should we start selling now? shah galani. >> no, it's into the

the dow down 49 points. pulling back from the yesterday's all-time high and the s&p down 3.5. >> nasdaq goes positive. that disappointing retail sales number has raised some new flags about the economy. up next, we'll tell you which part of the retail industry are working. and whether investors should be worried about the consumer here. >>> plus, with index funds continuing to outperform actively managed funds, is the age of the stock picker officially over? we'll talk about that still to come on the "closing bell." can an established bank move like a start-up? it's a question we get from some of our largest banking clients. the face of their business was tellers. then atm's. today it's their mobile app running on the ibm cloud. across every transaction, the hybrid cloud helps their data move quickly and securely. our clients are building out features and pushing updates faster, on five continents. with the ibm cloud, they can move at the speed of any start-up. perfect driving record. until one of you clips a

check the futures one last time. dowp and nasdaq could be starting in the green and record territory again and just look at your 401(k). we're back with the opening bell next. .. >> opening bell ringing 12 seconds from now. we're the only game in town. where else can you find. oily big story today. reagan's america does well. we're off to the races. features up about 40 points. already at 16, down 30 yes you can see the bucs have filled in. there we go. can i hear 30. no. here's the s&p 500, close to a record as well. but nearly three points at 2187. a look at the tech heavy nasdaq at nearly nine points. 5241. the price of oil. and russian energy minister telling people been on the road secretly, perhaps not so secretly. 1.5% of 4516. now some individuals taxed the big tech names near all-time highs could relate to keep track of it. amazon down slightly down 68. google on the upside just barely at 807. meanwhile, a look at stewart's favorite facebook gotten a little bit down 22 cents at 124. microsoft on the way up a lot

in the meantime, dow jones industrials down 29 points. of the session, 50 to the downside with the closing bell 45 and a half minutes away. it's walmart that is dragging down the dow along with unitedhealth group and nike. there's no question that another retailer has the right answers today, guess reporting a higher than expected second quarter sales and profit, lifting the low end of its forecast as its restructuring begins to show signs of progress. and their models aren't bad either. but look at the stock. today it's up 22%, but perspective, my children. guess stock was down 21% so far this year. that's now entirely erased at this moment. >>> up next, a new offensive against isis in syria, it's underway, but the u.k. says american technology companies are not doing enough to fight terror online. what the british government wants from facebook, twitter and google. oh, boy, you've got to hear this. that's straight ahead on "countdown." ♪ ♪ ♪ with this level of engineering... it's a performance machine. with this degree of intelligence...

the dow was down 59 points. better buckle up. at inactive satellite radio of yours is ready to roll. because the siriusxm free listening event is on right now! just hit the sat button in your car and listen free thru sept 6. that's right, two glorious weeks of commercial-free music, plus talk, sports, comedy, news, and more. your ride has never, ever, rocked like this. oh yeah, siriusxm is on for free right now. so tune in and let's ride! . . liz: breaking news. fran ticks efforts continue at this hour to rescue victims in the deadly earthquake rocking italy today. the death toll, unbelievable, at first it was 17 and then 38. it has now risen to 120 after this devastating 6.2-magnitude earthquake took place in central italy. at these cities you can see on the map we showed you. it left the town and around it ruined. look at the horrific images on the screen. this is 65-year-old man rescued from being buried under the rubble nine hours. rescuers racing against the clock to pull this off multiple times. there are children and other

the big board shows a 20-point loss for the dow industrials. lose to the all-time record highs. we're on it, of course. back in a moment. >> it sure looks like a new donald trump, doesn't it? on prompter, on message, taking advantage of the ammunition that hillary clinton just keeps on giving. at a rally in texas he hammered the clinton foundation's influence peddling. he said the clintons set up their business to profit from public office and he stuck with that script. a few weeks ago, he was chasing down mexican judges and goldstar moms. then he held a hannity town hall on immigration. on illegals, he said, sure there can be a softening, we don't want to hurt people. that's different. his audience didn't like it, but he stuck with it. oh, what a difference a couple of weeks makes. he was sinking in the polls. his campaign team wasn't working and he was going off on irrelevant rants that hurt him badly and he appears to have seen the light. when hillary clinton hams it up with jimmy kimmel and with the timberlakes, he seems to have got it. and

the dow up 125. ssible to get all-time highs for all three of the major averages with about 23 minutes left here. >>> up next, hearing from a top trader on whether he's buying into today's rally as bill mentioned. all three major averages try for record closes. oh watson, your japanese is very good. thank you. (speaking japanese) exactly. i can understand nuance, context and idiom in seven languages to help companies all over the world with everything from retail solutions, to banking, to cyber security. (speaking japanese) >>> less than half hour to go before the closing bell. let's talk about the market action as the major indices try for record closes. joining us, steve grasso. when's doing the buying today? >> well, it depends on what you're looking at, right? always institutional money. i think that guys are rotating out of what they have been in so we have talked about this before. staples, utilities, telecom. but what are they rotating into? today is oil and has been tech. >> and consumer discr

, especially the dow, is dead flat. e longest almost dead-flat period for decades. we're going to discuss whether or not the election could be the breakout moment. right now we're going to be up about 50 points on the dow. will you look at this, will you look at that? >> oh, my gosh. stuart: let me explain what's going on here liz: wow. stuart: a rather pokemon sighting caused a stampede in taiwan. it's a character in downtown taipei and thousands rushed to catch it and blocking traffic. ashley: anybody work for a living? liz: it's the power of pokemon. stuart: look at this, more fallout from lochte, he said, yes, he exaggerated his story in rio and four sponsors dropped him. and donald trump said the democrats would let them down and he would do a better job if elected. and sheriff, what if trump took that message directly to black folks in the inner cities? he's next. >> what do you have to lose? you're living in poverty, your schools are no good. you have no jobs, 58% of your youth is unemployed. what the hell do you

and the dow up 17. , good for the dollar, if you like a strong dollar. stuart: and bang on 10:00, got it. well done, peter barnes. we heard from ms. yellen in wyoming and earlier the gdp growing by just 1.1% on an annualized basis. the white house has responded coming up with their response to the gdp report. as the administration stresses every quarter, gdp figures can be volatile and are subject to substantial revision, therefore, it is important not to read too much into any single report. well, i wouldn't do that, but i will say it's the weakest recovery since any recession since 1949. look who is here. i'll bet he's got a smile on his face. got to have a smile. >> there he is. stuart: former obama economic advisor austan goolsbee. austan, i want to talk about the fed and i want to draw your attention to what was the headline in the wall street journal today and i'm sure you've seen it. for the benefit of our viewers i'll tell you again. years of fed missteps fueled disillusioned with the economy in

check out the dow transportation average. g the gainers there today, american airlines and mavis. good enough for the index as mentioned watching overall market signals up nearly 1% itself today. >>> let's check some other movers for the monday. wynn resorts is trading higher because there's a green light from the local gaming regulator to commence operations next monday transferring about 250 gaming tables from the property to this new casino and that will bring its total table games to 350. that stock up 4% today. >>> valaent pharmaceuticals, rising, as well. raised its price target to $25 a share from $11. trading at 26 now. see if they change that. the analyst there says that her short thesis has been debunked now on valaent because there is now a lower likelihood of a stock collapse from another guidance miss. that's interesting. >> sort of a double negative there. >> something. >>> tesla coming out this weekend and saying that the term auto pilot mistakenly removed from the website in china and restored. the company said

the dow is pretty much flat. index to watch right now is the nasdaq, at lifetime highs right now but just by a whisker. and delta reeling after yesterday's service outage. hundreds more flights delayed. upwards of another 530 canceled. refunds and vouchers being offered to all passengers who were impacted by this technical and a snafu. as, of course, the ceo apologizes, delta's tock down half a percent. just 20 president to $-- 20% though. from the skies to the oceans, norwegian cruise lines getting crushed after cutting its quarterly and full-year outlook. weak demand in u.s. and europe to blame. shares sinking 10.5%, that could mean discounts on cruises. call your travel agent. >>> and it didn't take long for critics to pounce on donald trump's economic plan. hillary clinton supporter gene sperling saying this here on countdown yesterday -- >> i don't know whether his first plan or his second plan will win the gold medal for which is the most regressive and most contributes to income inequality, but it'll be a t

the dow is down 111 points. floor show is next. >>> and discovery communications on a feeding frenzy as shark watching equals blockbuster results. the parent company of discovery channel as well as animal planet and tlc reporting its earnings doubled in the last quarter, although shark week is a perennial hit, international expansion was also cited for revenues jumping about 3%. discovery shares down 11% over the past three months, today up 6, nearly 7% right now. so not entirely squelching out the losses over the past couple of months. discovery stands at $26.45. and later coming up, one of the nation's biggest health care insurers may be pulling back on its obamacare -- not maybe, it is. aetna chairman and ceo mark bertolini on why he says it's time to jettison those health care exchanges, what needs to be done to fix the president's struggling health care system. "countdown" is coming right back. ♪ ♪ [hip hop beat] ♪olympics 2016, let me get you on my level. ♪ so you never miss a moment, ♪ ♪miss a minute, miss

the dow up 173 right now. ext, a leading trader tells us what he's watching into the close this final session of the week. >>> later, as the excitement builds to the opening ceremony of the olympics in four hours, we're going to go live to rio where carl quintanilla la takes us inside the housing complex we heard so much about. ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. tempur-pedic mattresses is that they contour to your body. it keeps us comfortable and asleep at night. change your sleep, change your life, change to tempur-pedic. learn how you can change your sleep by requesting a free sample of tempur material. call or click today. ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can ac

down 47 on the dow right now. a leading trader will tell us what he's watching going into the close. >>> uber hits the brakes on a fierce race for market share in china. what it says about other u.s. businesses trying to do business there coming up. >>> welcome back. less than half an hour. 20 minutes in the session. on the floor with gordon. what's jumping out to you? crude oil today the way it moved lower? >> interesting session. mondays early in a month generally rather quiet. seeing decent volume here today. we're seeing that the imbalances indicate there's some good liquidity on the bell. i think it's continuing to be a good session and oil is a factor and broke through 40. we're still in earnings season. we came out pretty strong. since then, steady if not remarkable. and, you know, we saw the language at the upper band. >> what about the macro stuff this week? with the jobs report, the manufacturing gauges? >> friday's jobs report is huge and then, of course, you have a bank of england probably lower rates f

the dow industrials, 30 of them. i'm trying to do the math.ee it there, a lot of green, some red. and that's the state of play as we open up 4 points on the dow. check the price of oil. if it's at $39 a barrel, might have a problem. up a little bit, but still 39. where is gold? been on a tear recently. the dow at 1367. another number that's important, the yield on the 10-year treasury. benchmark interest rate. 1.54%. i've got some individual stocks that are moving this morning, some big names, including clorox, lower profits, but the stock is up nearly two bucks. figure that one. different story at the health insurer humana, actually the same story, higher profits there and the stock is up a buck 53. occidental petroleum, yes, it's losing money and that's the result of lower oil prices and it's down a fraction, just about 1/2 of a percent. office depot, it's closing 300 stores. the market likes that, it's up close to 5%. progressive insurance, collecting more in premiums, profits down because of higher expenses and dead flat on progressive. a

look at the dow jones industrials, specifically the 30 stocks of the dow, most of them are in the red've got a small decline, down 26 points from yesterday's all-time record-breaking high. hillary clinton, economic plan, debt-free college. the millennials will surely go for that one, won't they? surely. more varney after this. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. just one of the many features that comes standard with our base policy. call for a free quote today. liberty stands with you™. liberty mutual insurance. > >> hillary clinton's pitch to millennial voters. free college to those making 125,000 a year, in-state colleges and universities. kat is with us. she looks like a millennial to me. i'm not going to directly ask. >> sure am. stuart: that's an extraordinary pitch to millennials, which is a vote getter. >> of course it is, they'll say i want free colleg

nicole: the dow went over the unchanged line 84 times on this job today. futures up 33, s&p up 41/2. lauren: the shanghai composite down a fifth of 1%. nicole: bottled oil prices have been steady, $41.74 a barrel down $.20. lauren: apple offering big bucks if you can hack into its products. nicole: facebook gets rid of click debate. lauren: the opening ceremonies for the other pics tonight when a third of the russian team will not be allowed to compete. the mets take the final game against the yankees with help from their new slugger. nicole: they don't like the hotel they had. it is 5:31 in new york, friday, august 5th, we welcome you to wynn, the latest breaking news and what to expect for the day ahead. more controversy over payment of $400 million to iran delivered by an unmarked plane as to run released four americans, one of the four americans told us what happened, he was on "the intelligence report". >> they told us you are going to be there for 20 minutes but it took hours and hours. when i asked them why you don't let us go? the plane was there,

cisco dragging on the dow 30 today. yes, it is one of the big drags, here are the gainers, 3m, pfizer and du pont. >>> the federal reserve confirms what fox business revealed exclusively yesterday. peter barnes interview with bill dudley, the head of the new york fed. we may be closer to a rate hike than you think. market is flat on that news. floor show traders on the fascinating stock move since the fed minutes came out. >>> and urban outfitters dressed for a little success with record second quarter sales, apparel retailer, you know this, a favorite with the college set and dorm room sets, surprising the markets by beating estimates. urban jumping to the sky here, up 15.75% on trading volume of 12 million. that stock is jumping $4.92 right now. >>> the battle for viacom moved into entirely new galaxy as settlement talks resume. are founder sumner redstone and philippe dauman on the bitter edge of the final frontier? the details next on "countdown." stay tuned. to folks out there whose diabetic nerve pain... shoots and

we are down 50 points on the dow. another one of those very narrow days but what are the at lift you're watching here? oil and overseas or what? >> a couple of catalysts. let's face it. this isn't an awful day. nothing is technically broken. we have an oil inventory number that's larger than we would like. we saw what came out of saudi arabia. so we got a hicky on the oil price. that put a hurt on the energy sector. the financial sector is in the hole. why? treasury auction. it came in stronger than expected. better far expectation than last time or was expected. this hurt the fms as it is tougher for them to raise interest rates. and get things going in their direction. so you have two sectors that are really hurting overall indicys. the rest of the record is flat. >> and selling the dollar which we have been seeing today and is that attributed to the fed expectations or central banks overseas? >> well when you have from 1% to over 50 basis points, i think currencies have large positions, they are knee-deep in lots of

up,three major averages most at the highs of the session as the dow jones gained 122 points. a lot of the gains having to do with consumer discretionary and energy stocks will stop if you look at the gains they are near the highs that it has been, bumping around near the highs of the session all day. the trade fourth straight session in which we haven't had a movement of at 500. 1% on the s&p let's get to look at the earnings related winners. a lot of them are in retail or consumer discretionary. macy's beating analysts estimates as the company says it's going to close 100 stores. kohl's, gross margins expanding. chilies -- owner of chili's beating analysts estimates. alibaba increasing revenue in its diversified division, including cloud services, much like amazon here in the united states. that's the consumer side. then there is the oil side. on ae oil surge today report that saudi arabia and oil minister said there could be in algiersf progress where opec will be meeting to stabilize oil prices. whether that comes to pass, we are seeing that push oil prices up and oil stock

the dow is up about 20. about 15, 20 minutes ago, but now it is ledecky for dow futures. ee you right after the break. ♪ ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. nicole: thank you so much for joining us on trans in. we are going to turn it right over to mourn its mature. we say good morning to you, maria bartiromo. maria: happy wednesday. i maria bartiromo. it is wednesday, august 10 to 6:00 a.m. on the east coast. hillary clinton doing damage control. newly single show ties between the clinton foundation and the state department. while she stared a secretary of state that the campaign tries to downplay the appearance of the land of batman father of one of her rallies. sitting just a few rows behind me me me as she paid tribute to the nightclub attacks. and then there is this. >> i am committed to doing whatever i can to support her i share returns to the congress with your support because we have a lot of work to do and that is what i am really focused on. maria: clinto

the dow jones industrial average now off 79 points. less than an hour to the closing bell, i'm ashley webster in for liz claman, let's begin the countdown. ♪ ♪ ashley: a fed head shake out? well, both the head chair and vice chair saying a rate hike could come as early as next month, the market calling its buff. the market having its biggest intraday swing of two months, down 13 at the low end and up 124 at the high point but futures pricing in a 36% chance of a rate hike in september if you believe such things. meaning that most professional traders aren't willing to bet that it will actually help. oh, and, by the way, volatility is back at a seven-week high. who says nothing happens on a friday in august? but, by the way, volume is rather below average, which you would expect for a friday in august. all right. to politics. after arguably the most brutal day on the campaign trail yesterday with verbal assaults being traded for hours, the candidates not backing down this friday, it all started with donald trump posting a video to instag

the dow industrials, 27 of the 30 are up, three are down, and the dow is at this virtual high for theaid, there are the dow 30. 27 of them are up as we speak. all right. what do we have now? we've got the s&p 500 up .7%, 16 points. that's a record high set today on that index. the nasdaq up another 56 points, that's a 1% gain. that's another 2016 high. be stock of the day could well be amazon. that's very -- within a few cents of its all-time record high, very close to 768. priceline, profit up 12%. the stock is up $63. ashley, liz, solid jobs report morning. i'm going to call it a solid jobs report. there's something wrong here. when you get good news on the economy, you're supposed to see the stock market go down because the fed will raise rates. >> in fact, the possibility of a fed rate hike now up to 45% according to traders, up from just yesterday, which which was. it's a bit counterintuitive because you think higher rates are bad for equities, but they're taking it on face value. stuart: and it's going up. now we're up 162 points. >> yeah, listen -- stuart: why is it up? [laught

ashley: checking the dow, the 30 dow stocks, more red than green, the dow stock 50 points, looking at supply, supply goes down, the price finally going up on oil. take a look target, sales down and a lower forecast, it is down 6.5%. let's take a look at this. our producer, christine is filling stuart in on what is coming up at the top of the hour and here's what we're looking at, steve forbes, a big hedge fund guy betting against the market and ed rawlins who runs a proton superback, we are talking about trump blaming hillary clinton the democrats for the failed policies that created problems in the inner cities. >> we reject the bigotry of hillary clinton which talk down to communities of color and sees them only as votes, not as individual human beings worthy of a better future. they have taken advantage. she doesn't care at all about the hurting people of this country or the suffering she has caused them and she had her party officials there has been tremendous suffering because of what they have wrought. the african-american community has been taken for granted for decades and loo

for the dow industrials. e? a new iphone coming in less than four weeks as the iphone 7. the stock is beginning to move just a little higher on that. here are the big names which we check all the time because this is where the money is going. look at amazon, 771, netflix, 95. alphabet, that's google, down a fraction, down 50 cents, 807. microsoft, i own a little, 58.35 as we speak. shake shack, lower sales, down it goes, 7%. how about the price of oil? we're around about $42 per barrel as we speak. oil up, stocks up, that relationship holds today. now, it's one minute ago, we received the latest on mortgage rates, it's at the bottom of your screen. give me the number. ashley: 3.45%, historically low. the problem is, we've been talking about that this morning, there's a derth of homes on the market and prices are rising, lowest level in 30 years. home ownership are down to levels we didn't see since 1965. this is a problem. people can't get into the market. they can't get past the credit requirements, the down

futures ahead of the opening bout. dow futures than change. res fairly moving higher this morning. that's a look at what is happening now. lea: iran's pattern of disrespect signed a nuclear agreement with the u.s. and allies is growing more dangerous than the potential for something to go bog on the high seas seems to be increasing. james rosen has those details. >> iranian push wpb. train to the correct port vessels harassed the uss meet that and had to fire 50 caliber machine guns to brush back another iranian vessel. sources told fox news that machine has provoked more naval confrontation this year than in all of 2015. >> is significant particularly because it shows post the nuclear deal in summer 2015, not only did iran's behavior internationally not get better having been able to take advantage of the deal, it's gotten worse. >> u.s. army general joseph h-hotel saw nothing terribly amiss. >> we saw some activity in the last couple weeks. that's not particularly new. we've seen that over time. we haven't seen a significant change in their b

they were higher this morning. >> by all of four points on the dow. flat markets overall like you said. >> the biggie tomorrow the government jobs report for the month of july. yields slowly creeping higher. 1.54 is the yield on your 10-year. some selling of treasuries along with selling of stocks. >> just like the stock market, we haven't seen a huge amount of selling pressure. we've seen yielding higher over the last couple of days. not a lot, but still like you see there yields ticking ever so slightly higher. let's take a look and the see whether we're getting cues from the european markets right now. we are seeing a bit of a positive side of things if you want to call it that. the dax in germany up. the cac in france the ftse 100 very flat ahead of that very important interest rate information and perhaps kind of forecast. >> decision where they really hinted there is action coming the question is what. >> they call it super thursday. it's not anything primary related, but has to do with interest rates. the ftse mib in italy up.80%. we did see a

s&p and the dow. ow, the market, the stock market wants to price in some action on rates it looks like. >> since friday, really, they have been up 3%, 4%, 5%. bank of america on an intraday basis, that stock's trading 110 million shares today. normally about 70 million. so we're talking 50% volume on a below average normal trading day and breakouts and hits 16, a lot of interest suddenly came in. >> a round number trade in bank of america. i guess it works. >> it does. >> not just them. >> breaking out across the board. look at this quarter, morgan stanley up 23%. bank of america. zions and the regional banks up 20%. only two months of them and that lot of outperformance has happened just in the last three or four days so this rotation we keep talk about, banks have been laggards and people to be thinking and we are not seeing big moves in the treasury -- >> bond yields. >> exactly. you would think we see moves on the upside and not happening and moving independently believing something is happening. >

declines across the board with the dow down 90. s&p down 13. performer down 46 on nearly 1% and losses kind of across the board. it was a seventh consecutive loss losing session there for the dow. of course, comes off a big win streak and just yesterday the s&p 500 trading intraday in positive territory. other parts of the market also still saw all-time highs. we spoke with home depot ceo last hour, that was one of the companies. and we do have a big hour coming up. dennis lockhart. ed bastian. ludacris and we have a barrage of earnings after the bell. courtney reagan is standing by for etsy. josh lipton all over fitbit. morgan brennan with aig and julia boorstin from electronic arts. thanks, guys. out with you in a bit getting the numbers. joining us for the hour is senior markets commentator michael santoli with guy adami here and, bill will be back with us shortly in a moment, as well. mike, what do you make of the declines we saw today? >> you know, probably felt like a bigger shakeout than it was because we were in a tight range and maybe

the dow was up two points, nasdaq up seven. o stops was the first in four days at the nikkei up 1% ending up one 10th of 1%. lauren: it was a big driver of the stock rout of rebounded 3.4% yesterday. still trading above $40 a barrel. trade to be my musk with widening losses among higher costs and disappointing delivers. the company sticks to its ambitious production plan. lauren: wal-mart in talks by judge.com to help it battle amazon. nicole: the u.s. women's soccer team wins their first game in rio. the u.s. flag will be carried the opening ceremony by asilomar michael phelps, the most decorated athlete in american history. lauren: 5:31 a.m. in new york it thursday, august 4th. almost dare to tgif. fbn am, your first look at today's markets, the latest breaking news and what to ask it a day ahead. nicole: terrified moments in london after nat to and attacked several people with a knife, killing a woman, injured by others. the suspect was arrested with the help of the teaser. >> early indications that just the mental health is

lauren: stockmarkets mixed, the shanghai composite of 0.1% in china and the kneecap one/3%. nicole: dow futures down 57, s&p down 7 and the nasdaq down 17. the barrel is down $.18. lauren: olympic history, the third straight 200 m goal. the greatest athlete in the world is an american. he wins his second straight olympic decathlon. we have the highlights. nicole: in new york it is friday, august 19th, welcome to "fbn a.m.," the latest breaking news and what to expect for the day ahead. lauren: the us olympic committee apologizing for the ordeal, ryan lochte and 3 of his teammates were not robbed. they vandalize the gas station, he claimed they were held up at gunpoint after a night of partying. us olympic officials say they will review the matter and possible punishment. >> gunner benz and jack congress are headed home after testifying to brazilian authorities. they are expected to arrive in the us later this morning. the last swimmer left in the country is james egan, trying to get a passport back after providing a revised statement. nicole: 3 minutes on the tape are missing. the race

as we mentioned the dow on pace for seventh straight day of declines. that's something that hasn't happened in nearly a year. bring in russ of blackrock, great to have you with us. getting to the conversation we were having, oil had been a concern, what has changed in this market in your view if anything. >> i think a couple things have changed. when you think back to january, it wasn't just oil, it was china, concerns about the global economy. and what's different today is people are less worried about a pending recession. we've seen generally strong u.s. economic data. and i think at $40 a barrel there's some comfort level that oil's not going to have the downward pressure on credit markets that had when oil was a $25 a barrel. so this 40, 35 level to me is critical because above that you don't have the risk of contagion into the high yield market. >> that's brian's point, right? >> that's his point. he's the one that runs the money. >> when it comes to the dow -- >> you play one on tv. >> when it comes to dow being down seven days in a row, can we poi

the dow up half a percent. the s&p, too.did lag a bit, up a quarter percent. 13 points to 5232. >>> reuters without a report today that the european commission will rule on ireland's tax dealings with apple tomorrow. apple's accused of sheltering billions of dollars in profit in exchange for keeping people employed in ireland and the tax bill estimated between $1 billion and $19 billion. white house press secretary earnest weighed many on the report in the last hour. >> the united states is committed to tax fairness. and we want to make sure that the kinds of agreement that is we reach with other countries are not manipulated to allow certain companies to shirk their responsibilities. >> joining us now is edward kleinbard. professor, it sounded like the white house wasn't exactly defending apple but in other cases regulators sounded more concerned about the eu's reach in this matter. is there reason to be? >> the treasury department has come out with a policy paper defending apple and the other u.s. firms that engage in what

the dow is still up a 100 points, up 106 points. we hang on to that, well for the next 16 minutes. tropical storms barreling down on florida and north carolina. how much win and rain is the southeast facing. >>> not just hurricanes and tropical storms to be afraid in south florida. oh, yeah, zika, spreading across the state. what if you get a shot now to prevent the threat of the frightening disease? we have a ceo of a firm how his firm is looking to fight zika head on. interesting stuff. countydown is coming right back. you pay your car insurance 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 ho

the dow jones is up, the s&p 500 up .6%. this is bloomberg. ♪

stuart: look at this, seven days in a row, the dow is down, down 70 odd points. pectation that the fed could raise rates. they're of the belief they're not going to do it before the election, i.e., in december. stuart: one little rate hike will ruin the rally. >> i think so. it's a slippery ride. august is the worst month behind january for the stock market. we're in the in-between period. stuart: profits would have to go up significantly to justify 19,000 or 20,000 on the dow or the world central banks have to print a whole lot more money. >> bingo. exactly right. stuart: then this, wikileaks founder julian assange can prove hillary clinton lied under oath regarding knowledge of gun running between libya and syria. ric grenell is spokesman at united nations. ric, spell out the lie. most people have not been following this in detail. what is the lie that's central to what hillary clinton said, spell it out. >> look, we don't know the evidence quite yet what assange has, and i think we are all eager to see this. the state department works very closely overseas whet

the dow off still 11 points to the negative.n, but essentially flat on the morning. checking oil for you. this is a big story. up more than two and a half percent on perhaps speculation owe pe opec looking to push oil higher. take a look at amazon. we like to keep an eye on the big tech companies for you. amazon moving lower now. down about a third of a percent at 763. apple meanwhile up slightly higher even though chinese consumers apparently are putting off iphone purchases until the new model comes along. we'll have more on that in a moment. but another big name we're watching for you. what about facebook? moving slightly lower down a third of a percent. google slash alphabet or the other way around, down about a third of a percent, there's a theme here. but microsoft bucking the trend, at least staying on the upside just at 57.99. say 58 bucks. take a look at walmart for you. announcing a 3 billion-dollar purchase of jet.com, the online realizationer. stock down six-tenths of a percent. back to politics in about one hour, do

big names going for the gold in the market with the dow up 130. e that could win the race for your portfolio. don't go away. we'll name them. ♪ liz: breaking news. records for the nasdaq and. year-to-date performances dow, up 6.8%. s&p gets the silver, up 6.5% year-to-date. the russell, small cap stocks up 8.2%. it gets the gold. frank gannon at royce funds co-ceo. smart enough to have 17 billion in assets in management, much of them for small caps. who you into they were jumping ahead. >> we had a bear market in small caps that bottomed in february 11th. market rallied close to 30% from the bottom. liz: why? >> couple things happened since the low. there is unfounded economic fears that haven't taken place, right? the correction in the market was based on an economic growth scare that hasn't happened. >> liz: are you saying the economy is good enough to sustain small and mid-cap growth companies? >> i am. we're hearing from companies that the economy is bumping along and from you, the economy is bumping along and they're doing okay. it would be wo

the eighth for the dow and that's something that would have seemed almost impossible this year got off to their worst start ever. despite the small move, stocks remain near all time thighs. the doo 18,576. nasdaq added four and s&p 500 dropped one and for the week, all the major indexes eked out smal the small moves fool you. our next guest says therrewardi. paul, you've been a lifelong bull. has anything you've seen lately changed your point of view? >> absolutely noe brexit low in early july, just added more confirmatie february bottom. that this bull u market has been rejuvenated. 2014 and '15 were pause years, but this is a brand-new refreshed, recharged bull market and as i've been saying since 2010, it's not going to end until we get to a minimum of dow 20,000. probably in the first quarter of 2017. >> now, there are those out me merging marxes and some developed countries that could put a haltadvanc yo disagree that. >> yes, sue, a lot of the issues that the bears have been hung their hats on has been issues for 2014 and '15 and '16. the markets have a great way of digesting and

the eu opens an antitrust probe on dow chemical dupont merger. could hurt competition in petrochemicals. gm continues to seek a shield from ignition switch, the automaker challenging an appeals court ruling that denied its attempt to use its 2009 bankruptcy to block lawsuits over defective ignition switch is. facebook lists two men to decide what is informative. the social network surveyed tens of thousands daily and they are using those surveys to improve the rankings. coming up 911 emergency calls may be going high-tech. allowing victims to send urgent texts, photos and videos to the 911 dispatchers. >> you are in a closet, you have to be quiet, you don't want them to hear so you text 911. >> we will have that story for you. and sports, are you ready for some football? they play a 3 season game against the jacksonville jaguars. let's check out us stock market futures after a record close across the board. all up arrows, s&p futures up 1.5, nasdaq futures up 2, you are watching "fbn a.m.," your first look at morning market and breaking news. ♪ so

the dow now down for seven straight days. ngest losing streak in a year and extending those losses in the premarket action. it is worth noting the index is down 1.4% during that 7 day period thachlt is the smallest decline in 75 years. joining frus boston is director of global macro infidelity investments. how do you explain this losing streak? it's not major in terms of the selloff, but it is lasting a long time. >> seven days may be a long time for a trader, but the typical investors, seven days is not a long time. the market broke out so right after brexit, the market fell. it fell less than people thought and then it turned around which nobody really expected and then before we knew it. we were at finally at new all-time highs above that 31.20 level on the s&p. we went all it will way to 21.75 which is a 40 point rally thachlt was a stealthy rally as well. now we're giving some back. typically when a market breaks out, it will retest the breakout point which will be 21.30. it doesn't surprise me that we're kind of giving b

the dow finishing slightly lower, but the nasdaq notching gains for the 8th week in a row, the first time it's done that in more than six years. the dow falling 45 points friday to 18-552, the nasdaq slipping one nasdaq slipping one point to 52-38. today we expect to today we expect to learn more about the investigation into violent protests that erupted after a deadly officer- involved shooting in milwaukee. syl-ville smith was shot august 13-th after taking off from a traffic stop. police say smith was holding a gun when he turned toward the officer. a few hours after his death, protests erupted into violence and left several businesses burned and damaged. today there will be an appeal hearing for former penn state assistant football coach jerry sandusky.his lawyers argue his 2012 conviction of child sex crimes should be overturned because of be overturned crimes should be overturned because of various errors in his initial trial. sandusky was convicted of sexually abusing 10 different boys between 1994 and 2008. he is currently serving 30 to 60 years in prison. gas prices are on t

we do have them lower, the dow is down 52 points, but oil higher. plus, vw's cheating scandal turns criminal. the latest on the deadly louisiana floods and apple stock. we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: yeah, apple's stock is basically flat. this as warren buffett's company says, you know what? we're increasing our stake by 55%. usually that would, in the past, have given a stock a really big bump, but not so right now. why? are the bulls just exhausted, or does a hawk reign supreme over the markets? hawkish talk from new york fed president bill dudley who exclusively revealed to peter barnes that a september rate hike is absolutely on the table as a possibility. wait til you hear what else he told peter. we've got more coming up, more detail on what bill dudley had to say. now, the market drop had nothing to do with bhp bilton getting slashed and burned and then turning around. jaw-dropping record losses of $6.4 billion, due in part to a multibillion dollar settlement for what we're about to show you.

the dow closed at an all-time high on monday. the nasdaq and s&p 500 closed at all-time highs on monday as well and pretty much moved with the dow all week. stocks fell on friday, though. if you are planning to fly over an airline industry trade group says 15.6 million passengers will take to the skies over the seven-day holiday trave period. that would be up 4% from a year ago and busiest days are september 1st and 2nd. so happy holidays. >>> up next, we're "on the money." why do drug prices seem to defy gravity? up and up but >>> a and now companies are easier for older employees to stay on the job. as we go to break look at how the stoc at ally bank, no branches equals great rates. it's a fact. kind of like bill splitting equals nitpicking. but i only had a salad. salad. ? ? how do robots work? ? ? you need a team... ...working together... ? ? ...doing all kinds of jobs. and the best place to find the job that's right for you is on the world's number-one job site. indeed. >>> prescription drug prices seem to go in one is 0 up.

the dow and s&p erasing their gains for the month. consumer stocks drown -- drag down the market. >> vice chair continuing the on the federal reserve. highlights of his conversation on bloomberg television coming up. vonnie: donald trump is surrounding himself staffers packed with moguls. a preview of what a meteor empire -- media empire would be run by donald trump? david: