let's see if mike regan can beat that. >> i'm happy to welcome a new contributor.nt out a chart he put on the blog this morning. he wrote about how procter & gamble is having an amazing rally today, up more than 7% after reporting earnings. that is their biggest gain since 2008 and the best relative to the s&p 500 since 2002. it is not all good news because procter & gamble is a consumer staples company. they sell household cleaning supplies and that sort of thing. the thinking goes that when consumer staples rally, it is because people are nervous about the stock market. they know people will continue to buy things like toothpaste and household cleaners and they pile into the stocks at the expense of more economically cyclical stocks. this ratio shows the ratio of the s&p 500 to procter & gamble's stock. it is overlaid with a chart of the s&p 500 alone. in the recession of 2008, the s&p greatly underperformed p&g. as the s&p went lower. the two have tracked each other since then with minor ups and downs. a major outperformance in p&g and consumer stocks indicates

mike regan, thank you much. we have much more on the selloff next to keep you up-to-date. nasdaq is plunging the most since 2016, the s&p 500 and others dropping to the most since february. this is bloomberg. ♪ mark: i am mark crumpton with first word news. president trump has been briefed on hurricane michael. the storm made landfall near mexico beach, florida as a catastrophic category four hurricane pushing a deadly storm surge and whipping the coast with 155 mile-per-hour wind. during his briefing with homeland security's secretary and fema administrator, the president expressed concern for those stuck in the storm's path. >> one of the things that must be said is it is not that easy for people that have to leave. some of these people are poor and is not easy for the people with the money -- without. the money necessary to leave. . we are doing a lot of different things to pull people from the area. a lot of people are poor and some of those areas. it is tough for them to leave. peopleore than 375,000 of the coast have been warned to evacuate. the u.n. office for disas

let's check in with mike regan. caught my attention was that the nasdaq had its worst day since 2011. what caught your attention? mike: so much. i think it is another day -- people ask me what causes this so often? i don't think anyone can comfortably say what caused it to be this bad. there are signals you can point to. there was a pretty alarming saying orderse co are slowing down and we don't know if this is the typical semiconductor boom and bust cycle or more related to tariffs. that is a trigger point for a lot of investors. any signaled a trade tensions are starting to bite, and at&t coming out talking about a drop in mobile subscribers. it's hard to see or read. many other stocks were stockforming, but a big taking a nasty tumble today. sure we will be treated to all sorts of theories about which quad funds people are blaming this time. if you look at all of the people's whose analysis say it will stop at this level, everyone is throwing up their hands saying we don't not know. romaine: if you look at the pr

amanda: we have gina martin adams and mike regan. it's good to have both of you.you believe the catalyst is for those this concern about earnings? at some point record profit earnings will have to reseed? have we seen it? >> i think part of the correction is due to her earnings and margins forecast which started falling in the summer, and started to catch a greater pace of acceleration over the last month, companies are starting to expect slower earning growth going forward. i think to say peak earnings is a misnomer. isbe peak earnings growth what we have seen and we are likely to see a deceleration from here. me isof the correction to about investors reassessing their outlook for profit, and considering less margin than was put in the forecast three months ago. amanda mentioned this earlier, we were lower earlier in the session, down 2%. why the sudden recovery? and we are still not their area, we are still down. exactly for to say sure. one thing that really created caterpillar earnings in the 3m earnings caused a big wave with selling futures. and the italy he

regan primetime" starts right now. president trump and vice president mike pence, they are not breaking down, they are not holding back.hey are telling multiple caravans in no uncertain terms, we are guarding our border. the president double down. tweeting. to those in the air van, turn around, go back to your country and apply for citizenship like millions of others are doing. in other words, do it the right way. joining me, steve hilton. former aide to prime minister david cameron. the president saying don't come in, go back, do it the right way. what happens they don't listen? steve: i just want to say how much i personally understand and agree with that. i'm here as an immigrant and i'm doing it the right way. i'm going to be applying for citizenship next year in an orderly process. it's ridiculous for people to assume they can just show up at the border and jump the line. that's not how it works. the president and vice president are completely right to show the utmost toughness on this. it's not just about the caravan and the people in the rare can. it goes deeper than that. it makes people question our whole syst

regan last night. took a few shots at former mayor of new york, mike bloomberg, he would be easy to beat and democratsresponse from former mayor. he was at an event. never know if you don't try. never thought trump would be formidable candidate when he started running. what do you think of mike bloomberg running against trump in 2020? >> i think he is underwell ming. would not bring much star power. switched parties several times. doesn't have consistent message. we would welcome him. i think he is one of the weaker candidates in the bunch. connell: kayleigh, we'll work on the music, kayleigh mcenany. melissa: moving details on the russia -- maybe that was your music? connell: my walk-up song? melissa: special counsel robert mueller reportedly moving to delivering key findings in the trump russia investigation but not until after the midterms. what could it mean for the trump administration? mill mcgurn from "the wall street journal" is next. i can do more to lower my a1c. because my body can still make its own insulin. i take trulicity once a week to activate my body to release its own insulin, like