good to see you. >> jeff solomon, ceo of cowen. the highs of the day up more than 350 on the dow. s&p up 1.6%. the nasdaq jumps 2.3%. third day in a row going strong. helps to have lower treasury yields, weaker dollar. oil prices are firmer. energy is the only sector lower now in the s&p 500 mixed earnings, including upbeat ones with guidance like coke alphabet, it is picking up steam here into the close. we'll wrbreak down the key numb to watch you can listen to "closing bell" on the go on your favorite podcast app. we'll be right back with the dow up 350 power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. vo: palantir software. while an earnings tool empowers scuderia ferraris to make critical decisions a

. >> disturbingly low jeff bays joined jamie dimon dave solomon gloomy outlook tweeted yesterday theis xh economy tell you batten down the hatches david, what do you want to tell clients, you viewers in terms of preparing for what could be curve balls in '23. >> interesting ceos after nine months difficulty start saying get more defensive almost a contrarian indicator to some agree we tend to defenseively the posture i agree with, from are investor standpoint this is an internal lesson markets need before economic improvement comes they start pricing the stuff in for far in advance i think investor progressivelies like myself and leo have to be aware that have. maria: is this what this is mini rally we are seeing. >> that is impossible to say if anything i bond neeltsdz finding a top. >> mortgage rates hit 6.94% yesterday, there was highest since 2020 this morning september existing home sales out 10:00 a.m., but look the housing market is a perfect example, of the impact of higher rates from the fed. >> a i say not the number it is speed it takes to get to the number, so, 7% interes

solomon predicting a recession. he appears to have support of jeff bezos tweeting in response, the probabilities tell you to batten downhes. let's bring in brian brenberg from kings college in manhattan and a fox news contributor and jackie deangelis. jackie, to you first. you've got goldman sachs saying be cautious. you have bloomberg projecting that a recession is 100%. this is bad news for the administration. >> good afternoon, trace. jamie dimon from j.p. morgan chase saying we're likely headed to a recession by mid 2023. earlier he said we have a economic hurricane ahead of us. so you know, these ceos are looking at their businesses and the economy overall and seeing how policy is having an impact. in that interview, david solomon said there would be issues with this administration and how it proceeds forward. it's those policies that would impact how long said recession would last. so that's what the big ceos have -- they have their pulse on the business out there. that's what people need to be thinking about, especially ahead of the mid-terms. policies matter. >> as we are learning closely. brian, would you have

reporter: one point, i want to bring this up if we can the jeff bezos tweet from last night, retweeting ceo of goldman sachs david solomonly a recession will happen than not. neil: it will be a rough ride. reporter: probables as he is a says. neil: exactly. i would put more stock in him saying more than anyone else. he sees it, right? reporter: how do you marry the airline results? bring up united for you -- neil: a lot of people -- reporter: along with delta. neil: consumer still strong. like you said the consumer is still strong and resilient. susan, as are you, thank you very much, susan li on all of that. the dow down 192 points right now. we're learning of course that republicans are increasingly confident that they will not only take the house, they will take the senate, now the big question becomes what do they do if they do that, like the next day? after this. ♪. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $3

planet probably have the best access to information so jeff pazo's worth $100 billion, third richest person on the planet agree with goldman ceo david solomonn cautious times ahead. predicting a recession, upcoming and jamie diamond says 6 to 9 months and the best trader ever on wall street, he says there's going to be a hard landing in 2,023. bloomberg says it is a 100% probably. stuart: is pazo's down to a mere one hundred billion? i thought it was worth 200 billion. lauren: he was but there has been a selloff in amazon shares. stuart: sorry to interrupt but inflation is chipping away at our standard of living. people are worse off now than they were a year ago. ashley: according to a report from salary finance, one in 3 workers including those earning 100 grand a year run out of money before payday and 3 quarters, 72% of consumers have less in savings than they did last year, that number up from february. more concerning is the survey found 29% of respondents have seen their savings wiped out entirely. a separate report by lending tree found 40% of adults said they are less able to afford their bills compared to a year ago. bottom line,

alarms, jeff bezos the latest to join the chorus, the probabilities in this economy tell you to batten down the hatches and similar warnings of trouble across wall street. goldman sachs's david solomon thinks energy and immigration policy will dictate how well the us will navigate these challenges and emphasize investors need to be cautious. >> you have to expect more volatility on the horizon. doesn't mean for sure we have a difficult economic scenario but distribution of outcomes, good chance for the recession. >> reporter: jamie dimon warning of an impact -- impending recession. higher inflation, interest rates and the war in ukraine, serious challenges, and the s&p 500 could tumble another 20% due to such a downturn, we are down 20% for the year and instead of heeding those called the white house is pushing back and edward lawrence asked the administration about industry warnings and the president doesn't expect a recession because of the economic plan in place. the administration has been wrong before. they called inflation transitory but it is tough on the credibility side when your messaging goes against the most successful businessman in the world through similar storms. nei

jeff is saying baton down the hatches. is it going to be a severe downturn, we are already in one, that's a question for wall street and the bankers down there. >> here is david solomon in his own words on recession. >> i think you have to expect that there's more volatility on the horizon. now, that does not mean for sure that we have a really difficult economic scenario, but in the distribution of outcomes, a good chance we could have a recession. >> sandra: that conversation is important to go back to the initial discussion about the oil and gas companies. when the president says hey, look at oil prices and retail gasoline prices, gas should be coming down when oil comes down, they also have to play the volatility game. prepare for what we have been experiencing, extreme spikes and extreme drops in the price of energy. that is a toughen -- environment. >> torched through $450 billion in capital over the last decade. so they are not in such great position either. so, their hesitancy on the shell guys to invest more when you have the rhetoric coming out of the white house as we have seen that's undercutting and attacking u.s. energy. we could be looking at $6 gas, s

jeff bezos joining the chorus this week. he tweeted, yep, the probabilities in this economy tell you to batten down the hatches. now, similar warnings coming from wall street titans, goldman sachs' ceo david solomong energy and border policy, of course, two areas very important to voters, are going to dictate how we navigate through this, and he warned that investors immediate on cautious. need to be cautious. >> i think you have to expect there's more volatility on the horizon. now, that doesn't mean for sure that we have a really difficult economic scenario, but in the distribution of outcomes, there's a good chance we could have a recession. >> reporter: solomon's counterpart at jpmorgan chase, jamie dimon, also warning of impending recession. the he thinks that will come in 6-9 months citing the war in ukraine as a very serious challenge. and, of course, not to be outdone, elon musk predicted a recession could likely last until spring of '24. he also tweeted how bad the economy will get, quote: varies a lot. tesla and spacex are in good positions, but many other countries -- companies are not. companies that shouldn't exist stop existing. that's a bit harsh from elon, but you've got ceos sayi