caterpillar in particular i do view as being a compelling buy near 193 to 195.k like it needs a little bit more on the downside. and we are still in very much a weak seasonal time 173, 175 is the first area then 167 i do like buying dips. for now, trends remain negative and the dollar is still on a persistent up trend. it is right to be a little bit patient. >> we will be watching those names with high international nature thank you. for more, go to our trading nation website or follow us on twitter. >>> it's hispanic heritage month. all month long we are spotty looing cnbc contributors, business leaders and our own employees. up next we will speak to the illinois state bort of investment cio will supporting hispanic-owned businesses. first, let's here from louis barajas. >> the financial advice i would give to young latinos is that they focus on saving and investing as early in their career as they possibly can. after 30 years of working with clients that are just starting out that's the key to success. there are no crystal balls use your common sense. financia

i think caterpillar will be a great place to find some value going into 2022.here is always the consumer staple group i know is boring but yet if you're a little bit nervous what may happen, you may find safety there. doesn't mean i have gotten rid of my growth names and tech names. i haven't done it at all. i'm a little bit overweighting in the three sectors i told you. what i think will be some cushion in case we do get a little bit of a tradeoff. charles: that folks, is how you have longevity in this business. kenny, david, thank you both very much. always appreciate it. >>> all right, folks, democrats melting down from biden's spending spree to the debt ceiling, this might be their last hurrah, a last chance to get it all done. i ask larry kudlow about it. he says if you want to save america, don't pass this bill. if you want beat them, join them but you have to be try to join them. we have them on our show. congressman warren davidson, on all parts of this big government are aiming at the cryptorevolution. look at the oil patch. you heard our two guests ta

the chiro and smugglers have kept touching again. caterpillar lead parkway is british nearest rose, did not enjoy an enviable childhood fingers were constantly pointed at him and in fact, pointing wasn't the worst part about the case. you don't get the case it monday, both i yeah. all the way, but everything is 1st years of school with the most disturbing for little boys in this one. buy a new or was i mean i'd been full so i would i think that no one else in the family looks like the lead. he's quite unique, but when you know that's on the, on the test on the monthly that you spoke a program to clearly spokane, you because you can use the most which way switching me to the theories, the value with a very i'm i'm with that said then over what? no, just it again, just because a stay in yet those are use of a new cover or some union leaders never hidden away from prying eyes. but the family seldom talks about him either. mainly because they have no idea what caused it. but one, the other, when i say i look when i was just a malay made mad about this, i came in late, i've been going to a g

caterpillar, all the big names there, united rentals. all of them topped out eshlier in the year on the global growth story. same situation, most down 4% or 5% the banks have been sideways many many months now as interest rates started moving up post election a year ago into january and february, the banks had done -- did very well. they have essentially been sideways lower today. a lot of people are figuring out what's going on on the technicals if you don't understand the fundamentals, trade on the technicals a lot of people are looking a the 00 moving average, the gray line the purple line is the 50 day moving average, already breached today. we haven't broken the 200 day moving average in a year and a half keeping an eye on that if we break that, s&p is down 3% that's another 7% or so blor here that would be the 10% correction line, roughly 4106. >> bob, whether or not this is a correction remains to be seen. it is for some stocks already. but they feel worse when they are happening than they do in retrospect the vix today has made a

and again, caterpillar lead parkway is british nearest rose lol. it did not enjoy an enviable childhood fingers were constantly pointed at him and in fact, pointing wasn't the worst part of the case. it monday. all going but its 1st years of school with the most disturbing for little boys in by a new or was i mean when it was good, i think that in no one else in the family looks like lead. he's quite unique but shouldn't be venue. that's on the me, not krista know nicely that you spoke a previous to clarity, spoke earlier because you can use the modem, which the switching seems to be the value of what that said then or what? no. does that again just stay in yet. those are new as of a new couple, some new liters never hidden away from prying eyes, but the family seldom talks about him either, mainly because they have no idea what caused it. but one, the other, when i say i look when i or the malay made it to this, i came in and they got, i did, i mean a kid that i have and that i get why believes are inevitable, but it will help slowly learn to igno

and again, caterpillar lead parkway is british nearest rose, while it did not enjoy an enviable childhood fingers were constantly pointed at him, and in fact, pointing wasn't the worst part mazda. okay, i got both. i yeah. but we picked up his 1st years of school with the most disturbing for little boys in by a new or was also like it was good. i think that no one else in the family looked like lead. he's quite unique. but really when you're on the taste, no, mostly that you spoke to currently spoke earlier because i used the muslim, which the switch, it seems to be always the value with what that said then or what not just it begins, i guess a stay. and yet those are new as of a new car or some union lead is never hidden away from prying eyes, but the family seldom talks about him either. mainly because they have no idea what caused it. but one the other when i say i look when i or the malay made out of my. busy head was about to this, i came in and they got, i did, i mean control over that i have and that i get why believes are inevitable, but it will help slowly learn to ignore them an

a much bigger percentage on the ag side than one of their industrial competitors in the form of caterpillarbut they still have potential exposure there too we were talking yesterday about infrastructure trades and of course they do also have exposure to construction and mining so this is, i think, a good company, an excellent company, well-run, trading at a reasonable valuation, very good price earnings to growth ratio, so i like the trade. >> tony, final thoughts on this one. >> yeah. this is really where as carter was talking about, the rotation into industrials that's what i'm really trying to capture here and john deere is clearly a leader in this particular sector it's outperforming its sector, and i'm looking for this breakout higher. i do echo mike's views here on valuations given the eps and revenue growth we've seen here, trading at 17, 18 times earnings not only is it cheap relative to the market, it's also cheap to itself. >>> up next, we're having a follow-up meeting on our zoom trade from last week >>> plus, we're taking more of your twitter questions we'll be right back. when

thing that i truly believe that are the chiro and then the smugglers have kept torsional again . caterpillar lead parkway is british, nearest rose lol. it did not enjoy an enviable childhood fingers were constantly pointed at him and in fact, pointing wasn't the worst part of the case. it all going, but everything is 1st years of school with the most disturbing for little i had to go buy a new or was also like give me a new one else in the family. looks like the lead. he's quite unique. but really, when you know that some of them in on a monthly that you spoke to clarity, spoke earlier pakenio. and in the morning, which switching the senior to, to peer with the value with what that said then or what? no tossed it again. just guess a stay in yet. and he was a very new couple. some union leaders never hidden away from prying eyes, but the family seldom talks about him either. mainly because they have no idea what caused it. but one, the other, when i say i look when i was just on the malay, made it over to this. i came in and i haven't got i didn't, i mean control over that i get that i get wh

caterpillar down 5%. the point here being not to minimize the down day but this is a rolling correction, very lanlg parts of the s&p 500 down roughly 20%. take a look at the s&p 500 because we do have scott wren mentioning that 200-day moving average why the number is 4106 200-day moving average we were at 7% above that you can see here that gray line is 200-day moving average. way above that for that long time usually the s&p 200-day average is 3% or 4% in a good up market. that is roughly the way to look at the 10% correction. 4106 is a 10% correction and just for a reference point there have been 85 instances since world war ii with 5 to 10% corrections. more than -- 1.5 per year and not close to a 5% correction in a year and very, very unusual. big moves to the upside and then suddenly whooshes to the downside sara >> that is what it feels like. thank you. let's go up to the nasdaq and down 3%. josh is there with more on the movers >> why is tech whacked today i checked in strategist for his take and

businesses with lots of chinese exposure can get there you think about starbucks, nike, caterpillar,t of it. it's not going to work i'm not worried about the u.s. banks. we used to think that was a problem. maybe they dodged a bullet cryptocurrencies also could collapse more than they have and i've got more on that later so you want to stay with me the bottom line, i don't think the evergrande if i as could he will do anything it gives investors a great excuse to do selling my view, sit this one out please and then you can buy stocks with zero china connection at better prices and not have to worry about a place that you had never heard of until today called evergrande. paul in texas. >> caller: boo-yah, jim. >> boo-yah, paul. >> caller: i've been looking at casino stocks and with the virus going on, a lot of them cut or suspended their dividends and then the reopening, the delta in china now. i started looking at mgt mgm growth properties which is paying a little over 5% dividend and they never cut it during all of this time so i'm wondering with all the uncertainty going on right n

companies that have a high percentage have underperformed since that time and we're talking boeing, caterpillar deere, 3m. it's really difficult. when you look at relative charts of the rgi, so stripping out those heavyweights and looking at an equal weight basis, that really peaked out in the month of may/june and has broken down in relative terms versus the s&p. so for the near term it's going to be difficult to own the industrials until we see some evidence the dollar really rolling over my technicals still suggest the dollar likely can move higher in the weeks and months to come, so that could be still another headwind for this group. >> okay. how would you size up 3m in comparison to some of its other peers? >> we downgraded the industrial sector to market weight from overweight in july based on signs the equal weighted sector wasn't showing the same relative strength that it had through the first year of the recovery and so while breadth was breaking down, especially in a name like 3m, which is now breaking to the down side, specifically 3m fell below its june low to complete its top it a

caterpillar 17%, 3m is 13% so the point is the market already anticipated some slowing.be the inflation concerns are a little bit more severe than expected, but the market's already ahead of this. same with the materials group. all of them topped out in may, freeport, mac moran, a lot of the steel companies, dupont, mosaic all these companies generally. so what you want to watch here is the ones that matter, which is of course the health care, the technology communication services companies those are the growth areas and if you look at the sectors here, you see the market materials, industrials, which is the cyclical group here, and the reopening trade tied to the reopening trade, all in the week they're the most off of their 52 highs. the s&p is less than 2% off its 52-week high health care, technology, and communication services they're a little better. this is just as we were going into the open. so tech is doing a little bit better than that the key here, carl, it's the cyclical groups that have already anticipated this slowdown the market's already there one reason

caterpillar says they are having a tough time getting materials as a result, which is impacting their global supply chain. despite companies paying more, that's still not enough to offset the fastest consumer price increases that we've seen in a decade with wages down nearly 2% when you adjust for inflation according to the labor department. inflation did slow down a little bit in august, neil. consumer prices rising less than anticipated. still over 5% from a year ago, we're at the lottest level in 13 years. not much relief just yet. >> neil: not yet. thanks, susan. so it's a weird conundrum to have. you have so many jobs being offered and so few taking up employers on that. what's going on here? let's go to charles payne, the host of "making money" on fox business. we have aaron gibbs here. charles, this doesn't jive. who is blocking it? >> you know, neil, we have this unusual situation where people were able to work 15 months or longer from home or they didn't work, they were getting supplemental unemployment benefits from the federal government in addition to stimulus checks that

we're working with amazon, caterpillar, the airlines to help them solve their challenges and meet their pledges for a lower carbon future. so we're leveraging our great strengths into these trends that are changing. >> i've got my core here, oil, $72. the saudis come in and flood the market or is this the new world? how much of the higher price goes to the initiatives? >> i think the difference today versus a year, year and a half ago is we've seen opec and opec plus with a plan that they've stuck to so as markets have recovered, as demand has come back from the depths of the lockdowns we've seen opec, it took a lot of production off the market, bring it back in a consistent way. they've telegraphed their plan and stayed with it despite differences of opinion they've largely stuck with the plan and really been cognizant of the fact that market stability is important so we've seen prices on a relatively stable band i would expect that to continue. >> it's good for chevron good for the shareholders. i care tremendously about capitol allocation you have moved 3 billion to 10 billion. chair

caterpillar seeing its worst day since november of last year. also banks, the u.s. of the world. cryptocurrencys are also down in this risk-off market, and you had a 10% drop in bitcoin, ethereum also making news, the largest crypto exchange in america, coinbase, says they are now scrapping their yield product and this is afcee owe brian armstrong -- after ceo brian armstrong claims sketchiness coming from the sec. so coinbase just an hour ago says it will not launch coinbase lend which would have allowed users to earn around 4% interest on their coins peggedded to the u.s. dollar or other currency. finally, we saw a big night for streamers. i want to show grow "the crown" winning best dramatic series, first time netflix has nabbed this award. only took them eight years, and apple's "ted lasso" sweeping the comedy series at the emmys, and it shows you streaming is dominating and, yes, they're spending a ton of money on their content in order to grab those awards. jackie: they sure are. the tide is turning. the pandemic might have sped it up, but it is remarkable. su

you must not agree with that because you did buy on the dip and you bought caterpillar and you bought diamondback energy yesterday. can you tell us why and what you make of what cramer says and what your mood suggests that you don't agree with that? >> because i'm focused on fundamentals i don't know how to time this market i don't think anybody does all i try to do is buy low and sell high, and these two stocks are down quite a bit from their highs, but let's step back for half a second here september, we have all talked about is a volatile month and this year is no different. we have worried about delta for a weil and peak growth now it's china and this is against the backdrop of the economy and data that's pretty good retail sales is 10% above pre-pandemic levels. industrial production is just two percentage points below pre-pandemic levels. we've seen a snapback for sure, but more importantly, scott, i listened to all of the conferences going on and two weeks ago verticals research had an industrial conference and every single one of the companies there said the demand is strong a

could be a tail wind for some stocks that are not like the market trading at all-time highs like caterpillar, that is one of the names that i might take a look at. although technically and this is where i have to defer to guy, it is not looking that great. i look for points of support there. but i do think that this might be a better opportunity provably than it has been when you consider that the stock hit its highs a little bit ago. >> let's talk about infrastructure and a infrastructure bill passing. the monster storms overwhelming our power grid as we saw our roads an rails and ports you name it. let's bring in trevor higgins from the center for american progress great to have you with us. >> thank you very much. >> do the storms that we've seen resently, does it change your the prospects of the bill passing? >> i think so. i think that congress is poised here to deliver major investments and the storms are terrible tragedy that highlight the need for this type of investment and we're looking at weeks without power in louisiana and the deadly flooding showing in new york it is a wake-up

yesterday you bought caterpillar and diamondback energy on the sell-off, and perhaps a lot of that related to the evergrande situation and today you're buying more dow chemical and you're looking for opportunity to put more money to work in this sort of environment >> look, it's hard to time the market and you're a day trader i'm not good enough to do that and nor would i do that. that's not my process and not my strategy i focused on fundamentals and what does that mean? i look at a number one or number two player in industry and i hope they can get on sale and you root for them to go down so you can buy more of them and that's what i did today in terms of dow by the way, the last couple of weeks i bought expedia and black & decker and i bought prudential, and a little bit along the way on the dips because i can't time it, and i looked for number one or number two on sale with strong business fundamentals and good market shares and good total addressable markets and good leadership and good earnings and margins and free cash flow all of those things i look at and when the stocks hit a lev

dow, conoco phillips and caterpillar.f companies have come down even more so than 10% correction caterpillar is 14% off the highs. if we are looking for good value, there is a bit out there. >> so you are looking at cyclical sylvia, you are going for cyclical, but other category like semiconductors which some argue is expensive >> they are expensive. semiconductors have a great story into the future. so much of the trend of digitalization depends on semiconductors now pretty much the 5g rollout everything from the augmented reality to artificial intelligence to the cloud. all depends on semiconductors. we have the supply/demand story there. prices will push up in the short-term, but the demand continues to keep prices high for the longer semiconductors are key >> you believe that sector could get a boost. what companies are you specifically looking at? >> the bill is going to lead to billions of dollars of spending in alternative energy. particularly hydrogen. hydrogen will do well. it will be everything from charging sta

caterpillar, getting 5% to 10% of sales in china, on pace for the worst day since last november, downties tied to china's growth story low as well iron ore continuing to drop, down 5%, 6%. china, of course, top buyer of steel. the steel and mining etf down 5% today. for more on what is playing out in china and whether there are opportunities, let's bring in our very own seema mody as well. what are you hearing in china? i guess the biggest question for global markets is whether authorities will intervene to prevent evergrande from defaulting or that situation from getting worse or not. >> you got to wonder china doesn't like a black eye if that's the case, why they haven't stepped in yet but in the meantime i think markets are trying to understand what the direct complexes of this evergrande story really is. if you look at what is actually moving today, the global mining and steel stocks, i mean this is a country that just in the last 10 to 12 months spent billions of gladollars on copper, iron, e steel, so the idea it could get the economy out of this downturn by funding these infras

looking for the short squeeze and they have been buying into direct, what about the value place, caterpillare goldman sachs, and jp lead in the dow that's come from the contagion on evergrande given the evergrande as a second logic property developer in china by sales and will they need as many caterpillar heavy machinery that they go into default. stuart: if they default on $300 billion worth of debt like goldman sachs it's a big investment firms take a hit, that's why banks are down. susan: think of the other ones as well, global money moves and it goes to the other and look at the green delta united after the 14 day quarantine being relaxed for fully vaccinated travelers. >> international travelers, you come hear from overseas and you don't to spend 14 days in quarantine, your fully vaccinated and you can show proof of it too. thank you, there are 24 states threatening to sue the administration over the vaccine mandate it would include the state of alabama, according to the cdc over 41% are fully vaccinated. i want to bring in steve marshall the attorney general of alabama and he joins me

caterpillar, honeywell, 3m also at the end of the back every sector in the s&p 500 is lower here intoerformers really all the cyclical groups, all the value plays are lower today. we got a bit of strength in technology salesforce, for instance, in the dow is holding up nicely strength in names like moderna, nvidia tesla looks like it's going to end a bit higher comcast the biggest drag on the nasdaq 100 apple is also lower after the big products unveiling event >>> welcome to "closing bell." i'm wilfred frost along with sara eisen and mike san tolli. as sara just mentioned, the dow you shy ofsh nasdaq down 0.5, the russell down 1.4%, all on the sectors were lower, and energy and financials. coming up, hedge fund manage ser joshua friedman gives his outlook for the market. >>> and u.s. open champ. emma raduncanu joe terranova is here, and misha levine mike, we just had a little bounce toward the end >> yeah, so far. every says we've seen it a bit. earnings, revisions to the up side probably have peaked. so all of these excuses seeing the market trying to gather itself, but also the pat

take alook at caterpillar whic generates around 5 to 10% of sales in china, dirt, moving equipment used at shares down over 5%, the worst day since november of 2020 a big move there the xli industrials etf one of the worst performing sectors following energy the commodities that are tied to china's growth story are moving today. iron ore which continues to fall after seeing the worst week since the financial crisis, remember china imports key raw materials, a number of key raw materials last year, as beijing tried to pull its economy out of the pandemic australia has long been china's go to source for i-- iron ore bu tensions has forced china to diversity to brazil. the slx steel and mining etf down over 4% right now names like cleveland cliffs, newmont mining, that operate in the global mining industry are among the worst performers cleveland cliffs down 10%. those are big movers we'll come back next hour, back to you. >> later today on the halftime do not miss an interview with short seller jim chanos talking about china risk for years that's at 12:00 p.m. eastern time dow is down 515

caterpillar, one of the top performances down so they lifted their forecast.cks up 7%. i want to talk about three other individual stocks pointing to broader trends. shares are at a new high with restaurants, staffing issues are a problem. it's keeping portions of olive garden restaurants closed and there worried about raising menu prices to counter higher inputs if you raise the menu prices too much, you turn customers away. a lot of customers are feeling that. mikey, about half of their speakers come from vietnam. those factories are closed. will we see a crunch christmas? carnival, they're going to return over half of their total capacity seven themes either delta variant of covid seems to be easing but ramifications, namely supply chain pressures are not using not anytime soon. neil: all right, appreciate that. i particularly structured agreement on a structure is a three and a half trillion dollar human infrastructure package, i find it interesting if the wording was exactly that from a three and a half drilling because there are a lot of moderate particu

look at the s&p agriculture index which pratracks commodity assets experts remain bullish deere, caterpillartur, illinois, we have more. >> reporter: leslie, largest show in the country and the first time farmers able to kick the tires in-person in two years. you noted higher grain prices mean higher stock prices really has been a great year for the equipmentmakers. even as deal wig some of the same supply chain issues the auto industry is, but farmers have been holding on to their equipment much longer than usual and some may be deciding it's time to upgrade. >> farmers are very optimistic primarily driven by commodity price this year and expectations commodity prices next year stay very strong. >> reporter: now, that optimism may depend where you farm. drought terrible in some parts of the country not profiting from higher grain prices at the same time fertilizer prices and other costs are way up >> fairly common that prices going up will give you a nice window to make some profit early, and then the inputs follow behind that, and, you know, the prices move more violently with input probab

their pain, some complaints from other big american firms about the higher prices, that includes caterpillarting materials in the chip shortages hurting them but they want to add this the world's biggest comedy apple said all four of the new iphone 13th will shift at the same time next friday that's the first time in a few years that you don't have a shift meeting the iphone available ahead of others in the market that is a sign of the world's biggest company might be getting over the constraints from the global trip shortage, it depends on which company and i think that's a sign if you have enough money in the supply chain expert you can get over the hurdle. neil: i did not know that that's an interesting development, thank you very much, great reporting soothingly let's go to lydia hu first hand industry that are not benefiting as much as apple up from the chip shortage you looking around for car new or used you will pay premium lydia is in new jersey. >> hi, we are learning that car prices are just continuing to climb as receipt a continuation of the conductor chip shortage were joined by

some of the big material names like dupont, also ppg is 20%, caterpillar, stanley black and decker, lockheedartin, 3m about 12% off the highs. with the s&p 1% off its high, these are fairly significant same with the retailers, they topped out many, many months ago in the earlier part of the year and some of these like nordstrom significantly off the high, kohl's, ross stores, discounters always do a little better, but still this is a not a great performance considering how well they were looking in february and march of this year the china slowdown, particularly the decline in retail sales around the covid concerns, it's really affecting the ruksluxury retillers, kerring, tapestry, richemont. lvmh is one of the biggest companies in europe. it would be a top 15 if it was in the s&p 500 that is weighing on many of the european indices homebuilders also weak we've seen supply chain and labor problems affecting the ability of some of the homebuilders to fully deliver on their orders so pulte had that issue. we see them all off about 11, 12, 14%. there's been concerns about drug control prices fr

caterpillar. >> oil is at $70 buy conoco >> okay. >> we'll talk about more in a minute >> tesla the numbersre coming through. >> china, do i have to worry at all? >> one of the stories this morning was, how silly it was that the evergrande situation impacted shares of kroger or best buy or twitter yesterday. >> yeah, that's stupid now, look, if it has to do with minerals, like you don't want to be a big seller of iron here one of the things that has depressed the steel stocks, if there's less demand in china, maybe they're going to find a way to get around, send it to mexico it wasn't the two plants that they're planning, this is hurting -- >> some capacity expansion of your own. >> nucor is only down a quick 20 points i think that they're a great company and they're going to have a fantastic year. people looking for $22 this year and $12 next year. do you think their earnings are going to be cut in half? i don't think that's wrong. >> do you think a slowdown in china can be mild enough that it doesn't halt global growth, but it takes the edge off global inflation? >> yes that's good. >> i'

even big names you don't think like caterpillar are 16% there is some damage underneath.e here, carl, though, is most of these stocks topped out in may or june this did not happen this week. all of a sudden we had this gigantic plunge. it's been a slow downward move and mostly sideways for a while now, but the anticipation that there would be a bit of a slowdown later in the overall economy in the u.s., that game started playing out a couple of months ago >> bob pisani, still to come, tech check is going to have a blockbuster show today we've got the ceos of microsoft, linkedin, verizon, and logitech, coming up at 11:00 a.m. eastern time as we go to break, time for the bond report, check in on treasuries this morning, awful lot of fed speak today yield's around the ten-year, over in europe, the ecb did announce it will dial back its pandemic bond purchase to what i call a moderately lower pace dow's up 60. we'll be right back. jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever si

dow closing auto down about 168 points goldman sachs the biggest drag along the microsoft, cart caterpillarlth care stocks s&p 500 closed down almost a full percent a little more than half a percent down for the week overall. materials the >> worst performers today. health care did finish positive. everything else was lower on the day. for the week, it was a mixed bag. we had energy ending the week higher, up 3.1%. the nasdaq down as well. technology got dragged into the selling. apple, microsoft, amazon, nvidia taking down the nasdaq a full percent or more. and the russell index also lower on the day we've seen the russell pretty much underperform -- actually, finished higher, ticked up into the close. did get that quad witching a lot of expiration of options into the close, potentially adding a lot of volume, moving small caps into the green. >>> facebook under fire. senator marsha blackburn leading a probe right now into the company over a report that it knows instagram is toxic to teens. her team just met with a whistleblower on that story. >>> first up, josh brown still with us. megan

microsoft off that dividend and buyback announcement we just discussed adding 32 points united, caterpillarctor higher expect for utilities. energy the strongest but you saw strength in a lot of the cyclical groups. industrials, materials, financials all doing well. technology joined the party as well nasdaq closed up 0.8% led higher by microsoft, apple, tesla, amazon, google all strong today starbucks, the biggest laggard over there biggest weight on the nasdaq 100. and the russell 2000 1.1% nice pop there for the small caps which have been lagging in recent weeks s&p with a half a percent on the week much more from our exclusive interview with pepsico's ceo including how this pandemic has changed consumer behavior potentially forever. first up on the market, sylvia, defiant etf's co-founder my first comment to you, today, did things get overdone on the selling or is there some catalyst that caused a reversal in sentiment today >> i don't think it was a news-based catalyst necessarily. and i think it was a little bit on a short-term basis. you did see some minor oversold conditions people

the dow closed lower the industrials and financials under pressure that's what weighed on the dow caterpillarce s&p unchanged on the day utilities, staples, technology, health care, all higher. all the places investors go for defense. and energy, financials, industrials and materials were lower today. that explains the nasdaq record high megacap technology in demand on the first trading day of september. apple, net flex, facebook, amazon, google, all finished the day higher comcast also at new highs today. the chinese names also did well like baidu the small caps also had a strong day closing up only 3%, the russell 2000 off the all-time highs got as low as down 10% off the highs in recent weeks and steadily climbing back >>> coming up this hour, a market outlook from a strategist who has been one of the biggest bulls on wall street find out why he is now downgrading his market forecast straight ahead >>> plus, online pet supply retailer chewy set to release latest quarterly results the company's ceo will be here to break down the numbers before he talks to analysts on his conference call. >>

the news, the dow is up 178 points and these are the winners, chevron, caterpillar down, american expressn. a lot of energy stocks. >> you have a recovery in oil into that selloff. stuart: oil stocks up. nasdaq winners, the top performer is netflix doing very well today. 584 on netflix the next case, robin hood up 4% today, $34 a share. crypto wallets official. >> people found they were beta testing it but robin hood said this is a reality which will launch next month. stuart: through robin hood i can create a crypto wallet. >> means i can send you crypto currency, you can send me crypto currency and in the past you can bike a currency on robin hood which i accounted for more than a third of actual revenue so crypto currency is a big deal and a business driver for them. stuart: you got bitcoin, 42,000 and ethereum is below that. >> i want to note that invesco and one of the biggest players might be starting a crypto etf. it might be - stuart: cryptos up this morning. check the big board up 200 points, 34,100, check the 10 year treasury yield at one.32%. the price of gold this morning is d

. >>> caterpillar that stock is up 2%, a nice gain.ls. but on the other side of the coin visa is down 2.3%. that is a dow stock. that shaves 35 points off the dow industrials. >>> thousands in lake tahoe evacuating. a wildfire. what is the latest. reporter: fire only grew about 20,000-acres in the last4 hours. the containment is up from 20, 25%. right now heavenly ski resort is over my shoulder. the fire is three miles in that direction over that mountain. lake tahoe is only 300 yards from where i'm standing. then you have south lake tahoe, thousands of cabins and businesses here. the goal is to stop the fire from going there, down to here. >> this town, south lake tahoe is dependent people visiting these areas. if we were to lose heavenly, it would be horrendous. we are going to do everything we can from keeping fire getting into the cabins and getting into the structures and even the chair lifts. we're concerned about every aspect of this fire getting into any of those resources that we know that people are dependent on for their liv

if you look at goldman sachs, microsoft, caterpillar and visa, they are four dow stocks, they're alles monday, september 20th. it's all about a america's extraordinary edging nearing prompts that opened up this great confidence. here's a preview. roll it. [background sounds] >> it was a place for the worst of the worst. stuart: no prison is more infamous than the one on that tiny island in san francisco bay. the job? build a prison for america's most dangerous men. >> gave him the term public enemy number one. stuart: the site? a tiny island in shark-infested water. >> a prison within a prison in a very remote, difficult location. stuart: hard time on a big rock, alcatraz. prisons, major engineering projects, we cover it all. you can watch "american built" on mondays, 9 p.m. eastern. it's part of the new fox business prime lineup. >>> the government now requires all new migrants applying for permanent residency to be vaccinated. that does not apply to those illegal migrants crossing the border. we've got the story. >>> look at this, thousands of migrants packed under the bridge just