david: politics is everywhere, jon hilsenrath, jonathan hoenig, harvey pitt, jonathan i owe you one.ve on. melissa. melissa: sarah palin suing wall street times over a editorial tying her to 2011 shooting that left six people dead wounding 13 others. including former congressman gabby giffords. "the times" apologized to the error make a retraction. she linked her to a pac campaigning in the area with this shooting, and then they, lentenned that out to say that had something to do with the more recent shooting. >> right, with steve scalise. they said there was a clear connection from palin's pac and the gifford shooting which included a nine-year-old girl getting shot. a horrible situation with gabby giffords. melissa: that was proveably wrong. >> "politifact" says that was wrong. that was debunked a long time ago. yet they said the scalise shooting had no connection in terms of any political motive, which we see obviously it did. it was overwhelming. melissa: yeah. >> "new york times" run as story. remember, this melissa, wasn't one writer a blogger from you huff foe, this was the --

we asked jonathan hoenig. jonathan, we are dealing with raising the debt ceiling and the budget in all this. does it affect the federal reserve's decision on rates? >> so far no. at least according to cme, futures will raise rates next month. as you pointed out, impact over the budgeted potential for a government shutdown in the previous administration had prior put a lot of investors and traders in a wait and see mode because there is the of what happened not only with the economy, but the data of the site is so dependent on. because of politics and the upcoming dead impact. cheryl: not to stand politics, but the president has been clashing with a couple world leaders, in particular angela merkel. he said he was going to renegotiate bad trade deals. they called on merkel last week. is that a problem for investors? >> i think it is, especially since so much of our economy is based on trade. some of the stocks doing quite well, amazon comes to mind. moving goods from one part of the world to another. beyond the

cheryl: jonathan hoenig, are you still loving this bull market? >> it is a bull market. the seeds of political entry here at home. 268 times yesterday. only 70 new lows. that is our sign. another new high for the market. as you said, with 30 all-time highs this year. a highest baha'i and the trend remains higher for stock in the near term. >> indeed. i'm looking that mr. brett more than volume. technology had been inspiring the bull market for quite some time. starting to see some other sect pairs catch up. it doesn't mean we can't take a step back. we are certainly due for a correction. >> we talked about this before. he can't help but point out the record close as we've seen since the inauguration. this is election day, right? politics tied into the market. if health care is at risk in washington, to finally start to see investors blin >> that is what worries me. investors whether it be health care, tax reform, increased regulatory reform would get passed. as the days and weeks go on, i think you're exactly right. you'll start to see maybe this isn't going to get done

vanished friday, that is just paper losses, vaporize today, let's bring in found of asset management jonathan hoenig what is going on with the tech stocks. >> they go down. that is amazing to imagine. but with wonderful stocks like apple and amazon, and netflix. we have gotten accustom to them hitting all-time highs, day after day, this is tenor of the technology market, i don't think that we've seen a change of trend, today we saw many more new 52-week highs, this is just a couple of overvalued names, too far, 5 -- fast with moderately down days in the market. liz: some fear this is a leading edge of a probably correcttion, this is more of a pullback of what we're talking about. not a correction, do you see a decline coming? >> well, we're due for one, it has been you know uninterrupted period of low volatility, not a lot of fear, and all-time highs for stocks. but i don't see is the unagreedeled enthusiasm you i you saw during other bull market tops, like in 20007. when -- 2007 when wench wa everyone was talking about putting money to work. this is just broadening out today. liz: what stocks are y

now market watchers, jonas max ferris, jonathan hoenig, fox business's charlie gasparino. charlie, people say keep in mind the tech stocks are up appreciably for the year, certainly since donald trump's election, no denying that but they're many are itching to correct. what do you think? >> bank stocks are off today somewhat. neil: right. >> i would say this, listen to what janet yellen said yesterday, makes a lot of sense, barring trump's fiscal stimulus plan, even if they do pass it this year, economic growth will be about 1.9% f they don't pass it this year, that -- neil: economic growth for this year? >> yeah, something like that. correct me -- neil: what do you make of the president seemingly hinting strong economic growth this quarter? >> he is saying it every day. he is a politician, that is what he is supposed to say. we're supposed to figure out whether he is telling truth or spinning it. neil: he is talking about the second quarter. >> here is reality if they don't get the fiscal stimulus through, what the bond market is saying, and they are a better indicator wh

having said all that, market watcher jonathan hoenig.in the market will correct 40% or more. we are you on that? >> we are due. keep in mind the tech sector is leading the selloff. it has been up eight months. we are certainly due for some profit-taking especially since the election. to be honest as you said, this is not yet panicked. this is reason for concern. but it's barely 1%, not a lot of reason for panic here the question is then i think you are right on the money here, what is next? if technology got us here, if that's not the leader, what will step up to the market higher? neil: you are very good at this history dynasty wire. normally what happens, you see it moving to another area. but not all the time. if the markets running out of steam, they don't know where to put their money so it's a collective selloff. we are not seeing that. what you make of that as some have said -- what do you think? >> would certainly seem that. historically after the fed releases the results of those stress test out of company stock yesterday makes