for more, we turn hugh johnson, chief investment officer at hugh johnson advisors. mr. johnson, thanks for making the time. i want to ask you about something the president just saidhemoments ago. alled what we're seeing here a correction we've been wailong for for g time is. that your read on what we saw today? >> yeah, you know, amna, everybody is going to have a very different opinion on that. the real question that's beings raised is is tmply a correction in an ongoing bull market or a bull marks that ha further to go, or, you know, this has been a very long bull market, so many are asking the question: is this the end of a bull market and the start of a bear market that will be accompanied by an economic recession? my answer to that question is essentially in agreement with the prsident that based on everything that i'm looking at, this looks to me as a correction and a severe correction in an ongoing bull market. from that point oview, amna, i guess you have to say that's a silver lining behind the dark cloud of what happened today. a stoc getting to levels that are

hugh johnson says there is a lots of fundamental reason to be concerned. omic numbers. what are you worried about? >> you know, liz, that is where we've been and where we've been is really good. the real issue right now, i think investors are concerned about is where we're going. this is the 116th month of this bull market which makes it the longest bull market in history. so just common sense alone says look, at some point, you know trees don't grow to the sky. at some point the stock market economic interest rate cycle is going to end. when you're at 116 month mark, you see a decline of the magnitude we've seen over the last eight days, you have to say maybe this is it. i kind of agree maybe with bob, i think market is undervalued. i think it is only a correction but believe me, i'm on my toes watching everyone of the so-called tea leaves in the market and they're not looking particularly good right now. liz: let me tell you about hugh johnson. he is sits there in albany. he is running around, banging the table, he knows over the years, bob, like you do,

hugh johnson said pepsico theno time to invest in emerging industry.as-cola said say it looking at cbd, the nonpsycho cannabis.ponent of amazon is raising its minimum the u.s. and u.k. employee base. u.s. workers will get $15 an november 1.ng amazon says its public policy team will lobby for higher wage.l minimum we will have more on that ahead. and that's your business update. we'll check in on how amazon continues to perform after that announcement on its employee base. u.s., u.k., from new york, this is bloomberg. ♪ >> president trump says the sexual misconduct allegations against his supreme court nominee brett kavanaugh show it is a very scary time for young men in america. the president said men are presumed to be guilty when women accused them of sexual misconduct even if there behavior has been "exemplary." he said he's hoping kavanaugh is confirmed this week. speaking to reporters, the president said that is dependent on what the fbi finds in its investigation. a rare show of bipartisanship. republican senator jeff flake and democrat chris coo

let's bring in the senior equity special live and hugh johnson with hugh johnson advisers good to have hugh, i will start off with you because you have a very aggressive recommendation, that is if your target of your portfolio is 50% equities, you want to be 60% equities. why do you want to be so heavily into equities and so aggressively at this stage of the expansion? >> well, at this stage of the expansion, obviously you have to be a little bit worried. we're at the 116th month mark and that's the longest bull market in history so that makes you edgy but you ask the question does this bull market have further to go and the answer to that in my judgment is very clear, and it does have further to go. the second thing is is that when you think back to what's been going on in the last couple of weekends, two, three weekends, we started this problem, decline in the stock market, we were overvalued about 1.5% overvalued and now we've moved down to a price or level that's about 5% undervalued with the upside potential now being much greater through 2019 being close to 10%. you don't often g

liz: hugh johnson, bob doll, what has to be the most volatile week i've seen in decades. crazy week as we close it out. [closing bell rings]. that will do it for the "claman countdown. thanks for hanging in there with us. time for "after the bell." melissa: wall street and suspect is identified. authorities arresting cesar sayoc of aventura, florida. the 56-year-old faces five federal charges, up to 48 years in prison in connection with the explosive devices were sent across the country. but the fbi investigation remains on going. we have latest details. first we want to tell you about the market, the dow ending rock and roll volatile week in the red. closing down 299 points, off the lows of the session amazingly. melissa francis a this is "after the bell." happy friday, my friend. connell: good news. connell mcshane, good to be with you again. wall street reacting to some reports we brought to you yesterday on's show. disappointing sales and nasdaq, more than 2% drop. s&p came off the lows, dipped into correction territory. nicole petallides, floor of the new york stock

i am emma chandra. , pepsiup, hugh johnson coat cfo." ♪ now to your business flash. toys "r" us may be poised for a comeback. lenders could be taking their heat for the decision to liquidate their company and are working on refining the plan. the plan they cancel to cancel off -- auction off its intellectual property. they want to reorganize into a new company. twitter is ramping up before next month's elections in the u.s. the company is challenging 9.4 million accounts each week. accounts thatved have misrepresented themselves as fake members of the republican party. there is another sign that petroleum trade routes are being redrawn. kuwait has stopped shipping oil to the u.s. for the first time since 1990. booming demand for oil in asia, where kuwait can charge oil prices. that is your bloomberg business flash. it has been over a week since the second largest ever change up of the global industry classification standard. after the rebalance, the largest sector remains technology, followed by health care, financials. thebiggest chang

. >> pepsico's ceo hugh johnson, stay tuned we'll be right back. >>> our guest richard fisher and alsoand sort of thinking, 5-g is a big deal and it makes me think -- it is going to be important in the future that we play here and we don't want people to steal our technology are you okay of what trump is doing with china >> 5-g is important to our country. i will take it out of at&t and other consultants and firms. the way it helps everybody from the consumer to the analysts to the first responders, it accelerate the speed there is an international standard and it has been agreed to the u.s. carriers and also china. i know the administration worries about this and who'll dominate the protocols of the internet and so on we have much more spectrum here in the united states than you have in china. companies like at&t and others are deploying all these stuff. 12 cities this year and 7 more cities next year i hope our government does not get caught up too much of u.s. verses china i am glad the sec has over ruled on the small cell and that's critical also provided continued added spectrum f