and sam stoval joining us, and artur -- art. fox business' nicole, good to have you with us. >> good to see you. nice to be here in your studio, something happened in your market today. lou: you covered it today, you looked better i think by far than all of the people you were working with. who are seemed to be bedraggled you are full of energy and bright. >> thank you, but the truth is that it is a play-by-play sort of market, that is what traders are telling me, i had a chat in the green room, someone said, if anyone says anything about a bear market. answer, i had not thought about that? no one is saying anything about a bear market, they said we saw 300-point sell-off thursday, 500 on friday. and thousand points today. first of all everyone getting freaked out to see 1,000 points. but, today, as people were leaving i asked so what next they said, look we have to take this one day at a time. being look at what china is doing, people are putting money to work. we saw many of names come up 10% off of the lows of the day. so the

sam stovall is here. you say this is opportunity, don't sweat it. on, sam, there is nervousness. underlying nervousness. hard to pinpoint what the feeling is right now with the markets but it's there and it is deep. what is going on do you think in your opinion? >> first off it has to be there and has to be deep in order to cause prices to go down. think how many people saying i would love sort of a correction in the market to put rest of my money to work because i missed out on a lot of this bull market. everybody feels that way, market will not go down especially not on news that causing them to think, gee, maybe this is game changer if you're warren buffett, basically say, remember parking signs around manhattan that say, don't even think of parking here. he would say, don't even think of trying to time the market. when you look 10 years out, you will see the stock market higher and maybe even a lot higher than it is today. >> sam, it is hard for baby boomers in particular. i talk to a lot of these folks. they're so close to retirement. they can't

sam stovall, watching the s&p right now, up 1.26%. if we could just look at an intraday chart, it's up 26 points. last week was a brutal week for stocks but all in all, the s&p lost 26 points. we're making it all back today. does that tell you something? >> it tells me that that volatility is certainly with us. that investors really aren't sure which way to go. last week we basically lost everything we gained in the month of july. 70% of the sub-industries in the s&p 500 were in negative territory. and i think what we have a new story to tell is that if you're an income-oriented investor, then put one hand over an eye, that eye that looks at stock prices and focus on the income stream. if you are a landlord, you're not going to price your condo every day. so don't price your stocks every day. but focus on the annual income stream. and in most cases, that line will be very attractive, something like a department store escalator. >> wow. i'm counting all the metaphors in that answer. sam, where do we stand on earnings as we make our way

sam stovall joining us post nine from s&p capital iq. when we saw each other last night, the futures were pointed down less than 100 points. what do you make what happened at the open? >> we just had so many sell orders build up. we closed on the low friday night. i think just nobody had any confidence. really had seen any capitulation. this ends up being much more similar to what we would expect from a capitulation type day. >> we saw so much apparent pent-up selling because we were in this tight range. a lot of energy seems to have built up here. what is the philosophy of the move today and disorderly nation suggests what this repair process might have to look like. >> when i look back and we topped out may 21st this year, so we went three months before we finally broke below that 5% threshold. that is the longest stretch in time going back to world war ii. that is a good thing. if it takes this long for us to finally give us the ghost, if you will, after talking about that transport and industrial divergence, talking about shiller pe