peter kenny is a managing director at night capital. peter, what's your take of this market rally? will it last, especially because after the markets is close, we got that hit from fitch, the ratings agency, which yes, was expected, but is another reminder of the failure in washington. >> it is about the failure in washington, but the real story and the real reason why this fuse was lit this morning was for the very reason that you started off with by talking about the strength of the american consumer. that really lit the fuse this morning. marks took off right out of the gate, closed up 300, regained close to 3% or a little under 3% on the day. really taking back much of the weakness we've seen over the last three or four weeks. so markets are firm were firm this morning and closed at the high of the day which is important. they didn't sell off midday. they closed off at the high of the day. the news from fitch was largely expected and i don't think it's going to have a terrible down draft on the markets tomorrow. >> do you think the optiism for the markets can continue through t

. >> peter kenny, thank you very much. >>> in dallas today, the federal reserve bank released a survey of businesses in the reenchen. and a plastics company said we wish we could receive some encouragement from the stalemate in congress. it's hurting the u.s. economy and it could affect the president's chances for re-election. john avlon, leslie sanchez and paul begala are with us. good to have all of you with us. john, let me start with you. a few good economic headlines, they come amidst an overall picture which is grim. they change sentiment, are headlines like this good holl day, not great jobs creation, but some jobs creation, enough to deliver him this election on a silver platter? >> not to deliver anyone on a silver platter. the trend -- if you look at overall, that's the important thing, the trend. when reagan, leading up to his landslide in 18984 had 8.5% unemployment at this dime. that's why it felt like morning in america. the fact that the economy seems to be stabilizing is a positive sign. this is not over until it's over. it's going to be a squeaker. >> one thing that co

. >> peter kenny, thank you very much. >>> in dallas today, the federal reserve bank released a survey of businesses in the reenchen. and a plastics company said we wish we could receive some encouragement from the stalemate in congress. it's hurting the u.s. economy and it could affect the president's chances for re-election. john avlon, leslie sanchez and paul begala are with us. good to have all of you with us. john, let me start with you. a few good economic headlines, they come amidst an overall picture which is grim. they change sentiment, are headlines like this good holl day, not great jobs creation, but some jobs creation, enough to deliver him this election on a silver platter? >> not to deliver anyone on a silver platter. the trend -- if you look at overall, that's the important thing, the trend. when reagan, leading up to his landslide in 18984 had 8.5% unemployment at this dime. that's why it felt like morning in america. the fact that the economy seems to be stabilizing is a positive sign. this is not over until it's over. it's going to be a squeaker. >> one thing that co