mark: you were talking about the s&p 500. been showing us the eye chart for couple of days. that tells a story. look at all the red on the screen. that was ane company gainer. just barely. look at that. all the companies in the s&p 500 in the red. matt: four bloomberg junkies come i will blow your mind. map in wheel of fortune form come up and down. have the columns that are the months, side to side, you have the rose that are the years. the ten-year average, the top row shows you what the ten-year average would be. in august, the ten-year average is a loss of .6%. september, over to it's a gain of 3.6%. over the last 10 years, using again in september. --ve only had one day so far the last time we saw a drop this is significant would have been 2011 when they had the mini crash and 2008. september is normally a positive month. a lot of people have tweeted me to ask me how i got to this function. mark: i have a chart of the hang seng index, that is in the red as well. ,hat has been going on in china the ripple effect around th

a kind of respite in this crusade in the late 1960's. then a buildup in the 1980's. one can emphasize this enchantment by the late 1960's with the civil rights crusade. if liberalism can point proudly, would liberalism be blamed when the black power movement begins to become more prominent, when you have the long hot summers in newark and cleveland and washington, d.c. with liberalism, what would liberalism's response to this be? this is a huge issue. the riddle of race that has been problematic for so long. liberalism has no concrete answers in 1968. there is also i think a cultural change afoot. 1963, obviously it is the year that betty friedan's "the feminine mystique" comes out. it is not so much a 1960's book, i think of it as a 1950's book. an upscale educated female class. it does point to broader cultural, social, gender issues in american society at the time. a book that obviously predates the assassination. when i think of movements, i have to emphasize student movements of the 1960's. they were important response to the war in vietnam. they were a response

i get up in the morning. it' s up 260 points. literally, tuesday morning, 260, and 10 minutes later, the market was flat. that is some kid' s algorithm somewhere. nothing has happened. gary: i' m going to -- how do you explain that? anthony talked about the fear factor that has been created. i don' t think these current situations, flash crashes, and so to a certain extent, some of easily. to the fear factor. talk about the most unloved rally despite the unbelievable performance since the depths of the financial crisis, and yet we have a retail investor base, much of which has missed out on this rally, because of the fear factor, the mistrust, and whether it' s the regulations that are so behind the times, how do you bring back that trust? we have issues with china. even the most professional investors have trouble trusting the numbers coming out of china when we are trying to interpret. gary: you asked the questions. how do we bring back the trust? dick: i think you start right at the top with the sec leadership, with the fed' s

murphy oil one of the biggest losers on the s&p. energy companies are kind of the biggest weight on the index along with financial companies as well. financials and energy dragging down the s&p but all 10 industry groups were down on the s&p 500. atrlet: let's take a look where it all started this morning. i want to look at world manufacturing data. it wasn't just china that we saw disappoint. ups represents the pmi china, russia, and france. big declinel had a lower starting last month. we really look at this 50 line right here. that signalsw and we been in contraction for a while. the last month we think all of them decline, not just china. there are problems all over the world. scarlet: when you look at europe, unemployment in that .rea unexpectedly declined 10.9% was the lowest since early 2012. not every single data point is that discouraging. i want to look inside my terminal as well and show you globalce i tracked the flow equities. this is one of my favorite functions. it doesn't make much of a difference here because you don

netflix is at the bottom of the s&p 500, the winner by far in the s&p for 2015. s talk about the market moves with the chief market technician at mkm partners. he's got the charts and the levels to watch on the s&p 500 where are we looking to test the lows? >> we look at the chart of the s&p we know we have the big long-term trading range for most of the year that results to the down side move. one of the most violent move we've seen in the past four years since 2011. we made the intraday low last month. around 1867 on the s&p 500. the futures made a low around 1830 before the cash market opened. generally when you see downside moves of that magnitude. like we saw back in august of 2011 you see a retest. we think we're going to head back down, retest that area, now what is a retest? we think somewhere 1% to 2% within those lows, it doesn't mean we necessarily have to break the lows, we have to get down there and kind of revisit that area. another thing we're watching is the breadth of the market. so we know we have about 30% of the s&p 500 is above the 200-day, th

there are only two gainers on the s&p. irlines, which got a -- an upgrade from deutsche bank. and a lot of industries don't mind seeing the price of oil come down another 9% today. and cablevision is the biggest gainer on the s&p 500. onfigure, the biggest winner s&p 500 today, even as apple is looking to make its own content, people are buying cablevision. alix: that is a great point, because if you cannot buy chinese stocks, you will end up buying commodities. own commodities and therefore it spiraled. chief investment officer is joining- krishna us from his firm in new york. what you make of this day? it is the same set of issues. i think we reacted positively to dudley saying all sorts of words over the weekend, and stanley fischer also saying harsh words and reacting badly. at the end of the day, it is about growth. growth is slowing down and we have to slog through all of this. -- how muchny more more leg does this have as we get into the spillover from august krishna -- from august? : they either have to have a sello

this happened in the 40's into the 70's. for a couple of decades, uranium was the king. by 1970, that industry quickly collapsed. all over the colorado plateau and especially here in this county come outside of grand junction, we are surrounded by morrison rock. the morrison formation is from the middle of the jurasic. about 150 million years old. within the morrison, we find a lot of dinosaur bones and fossils. and that has really intrigued scientists for a long time. the -- the other thing we also find is a mineral, a rock called carnetite, which contains three different elements. radium, which is radioactive and was used to help solve and fight cancer. it also contains vanadium, used to strengthen steel. so during the build up to world war ii and during world war ii itself, it was of extreme value. carnitite also contains uranium. and uranium, as we know, is one of the best sources for atomic power and atomic weapons. back in 1890, a couple of copper miners were in south grand junction and were searching for copper deposits and kept on coming across a bizarre looking

the russell led the s&p. think it's headed for 103 1/2. >> and i think you have to be careful with the small caps. i don't like the xbi. that's also the s&p biotech index. those two have vaded in lock-step over the last couple months. >> another tweet. "how about selling a low 60s put and going long a call on alibaba?" dan, what do you think? >> we know that in the next couple weeks there's a huge lockup, the stock is down 40% on the year. it's down 50% from the highs last year. it's in uncharted territory. we don't know what's going to happen with this stock. i suspect it's going to get a bit sloppier especially if china remains sloppy. i think it's important to remember that these guys are very tied to the chinese economy while everything was fantastic last year during the road show, it's really bad right now. so i like the idea of a risk reversal rather than buying stock here. you're defining a range where you get long on two sides. >> i was going to say that's an extraordinarily interesting strategy. is th

the s&p 100 divided by the s&p 500. you see the stronger dollar that hurts the smaller caps, those are domestic manufacturers, then you see the s&p 100, it is the s&p 30, a small number of names. that is when you see a spinoff, active managers outperforming versus underperforming. that is when you see the dollar going up. that is how it lays across the stocks. all these markets were together. alix: where does that leave investors? where is the place you need to put your money that is not going to be the two-year or 10 year or the dollar? eddy: one is to focus on dividends. alix: isn't that played out? eddy: not at all. look at this week. microsoft, one of the largest in the world. they raised their dividend by 16%. that is in a norm us increase. dividends are expected to be sticky. you don't cut it back. with the breakdown the dividend yield has been increasing in the market with environment where you are not sure what kind of rates you're going to get. you are getting microsoft -- the yield is 3.3%. joe: another chart i

right now we're at 1882 on the s&p. aq is lower by about 2.5, no, make it 3% for the nasdaq. this is a broad-based selloff at the moment. yes, china fears, yes, it's five days in a row that we're seeing moves to the downside. there's the s&p 500. it was choppy last week. we've got jim frischling in the chair, and i have to ask you over at new oak what you do on a day like this. >> what we're or trying to do is, i guess, stay calm. we still like what u.s. is doing. we still like -- you know, everyone's talking about fed obsession and, yes, they have created uncertainty, but even when they move -- and they will move -- we're still going to be in an historically low rate environment, and that will be a positive tailwind for stocks. certainly u.s. domestic stocks. so i recognize that we're seeing not a capitulation by any means, we've seen about a 10% plus pullback since the highs of may -- liz: do you see a capitulation anywhere? >> i don't think this type of pullback sees capitulation yet, although i'm disappointed not to

lunchtime in the lower 80's. afternoon high in the mid 80's for philadelphia and lower 80's another great beach day at the shore, up are 70's in the mountains. we will talk about that extended forecast in a bit but first lets check traffic with meisha. >> good morning, justin. it is still very early but we still have active on the roadways. you can see headlights and taillights. we have construction i-95 off ramp to the blue route now closed but that is opened for those in and around this a area we will not cause too many problems a at this early hours but make note that it is now opened. construction on the schuylkill eastbound at belmont left lane is block, flashing lights, with that little arrow pointing over this way but this will be cleared. overnight construction. hopefully that won't cause too many problems. woodhaven road westbound the right lane was closed. it looks like we're looking good right now. i'll have date that. but woodhaven road is looking nice. another construction, video is out but i'll let y

the dow and s&p both closing the week down more than 3%.hat has the vix jacked up, making it more expensive to buy production. what are you looking at, dan? >> when we talk about index etf protection, oftentimes the premiums, they're very cheap and look very cheap. they don't have the risk of a single stock here. so oftentimes when you're looking at spy premiums, they look cheap, but in volatility terms, they're very expensive. we're going to look for trade structures that look to mitigate some of that decay if we have a market that settles down a bit. i want to look at chart of the s.p.y. we all know what it looks like from 2012. it was just straight up. we had some very minimal pull backs along the way. the largest one was actually last fall. we know what happened there. and here, right here, we just came down. we almost had a matched low. i suspect that the s&p, which is now only about 3% off of last monday's low, it's going to break. when it breaks, it could get ugly. some of the stocks we were just talking about that were down 20% that

there will off the lows, the s&p 500 down 2.5%, now down 1.5%. ting pummeled in today's markets. the decliners have to deal with "bad news." netflix, newport, lots of energy getting sold off in the midst of a drop in oil. 10 stocks rising in the s&p 500 by my count. here is what is happening to the vix. the vaulted -- we wanted to get a reading on volatility, back .bove 30 despite the other day what doesn't seem to be happening is rotation into treasuries. treasury yields are down but not by notch -- but not by notch. much. this is not the big move into treasuries we saw last week when the dow was down more than 1000 points. meantime, automakers have been reporting sales this mine. monthly sales -- we have been all over the numbers. matt has more. can we get general motors? is down, but not as much as analysts estimated. we were looking for a drop of 2.6%. that was the average in our survey. we got a drop of .7%. gm is joining the pack of automakers in beating analyst's expectations. fiat chryslerd posts sales gains when we are looking for jobs. o

the s&p down over 8% this quarter. falling to its lowest level since october. joe: what did you miss. equity markets hurdle for the first quarter since 2011. alix: something is rotten in biotech. sector more than others. joe: glencore in freefall. commodities crater. can it here down its debt fast enough? alix: we have to begin with these extremely ugly markets. the dow down over 300 points. you are looking at one-month lows, the worst in the nasdaq. that thebelievable volume was much higher than the 10 day average. s&p, 70% more in the dow. joe: it was one of those days where people were throwing out anything that isn't nailed down as they say. you saw facebook and amazon diving, we saw the home folders -- homebuilders rolling over. obviously saw the biotech. one company that got slammed was , washarmaceutical company a letter from the house wedding to inquire about drug pricing. even though it will not result in any legislation anytime soon, when you see that don't -- you see that dump. seeing sectors retest those lows, and bio tech is the latest to do that. w

we see the s&p down 1.5% at the close. the dow jones industrial average down 272 points as you say, a little bit of a comeback because we were down 330. the nasdaq down 1%. take a look at what you see in equities for the week. the dow jones industrial average lost 540 points for the week. we've now moved it up here. the s&p we've now put in the middle. down 3.4% and the nasdaq down 3%. so a very rough week. the second worst week for the year in u.s. equities. take a look at the s&p since the u.n. devaluation, since china widened the band and allowed the currency to drop a mere 3%. that's knocked almost 9% off the s&p since august 10. it's also killed a lot of stocks or at least a lot of stocks have taken big dives since then. a great example, because the casino and hotel company gets a huge portion of revenue from a . inese gambling destination as a result wynn has fallen 30% since the yuan was devalued since august 10. it's had a lot of downgrades and is having a rough time. the same is true though surely for different re

this is the s&p 500. was supposed to be positive, folks, for the second half of the year and it's not happening. revenue is not doing anything either. down 2.9%. that's also a major problem. as mandy said, a lot of this disappointment is due to what's going on in the energy space. look, energy earnings expected, that's not a typo, 65% to the downside. if that was out, the s&p would have a positive earnings. so that's how big it is and materials, you know about the global commodities collapse. that's to the downside. what's going to help us? the street is pinning their hopes on consumer discretionary, financials, and health care. consumer discretionary is looking pretty good. home building doing pretty good. retailers fair, some winners and losers. ha health care is okay. the concern is the financials. they were thinking interest rates were going to be higher and that would help some of the earnings, some of the companies, but that may not be happening. you saw interest rates not doing anything the last cou

we will be well in the 80's. we should be in the 70's this time of the year. we will show you another chance of rain in the seven day in a bit but look at these temperatures still nice. some spots in the jacket in south jersey, 52 millville. fifty-eight in the capitol city of delaware. the mount pocono 51 at this hour. fifty in quakertown. in mid 50's willow grove. so again, pleasant start. nothing happening on storm scan three, once again, maybe a passing cloud early this morning but a lot of sunshine through this afternoon. check out temperatures in response to the sun. 7:00 o'clock in the lower 60's. by 1:00 lower 80's and those afternoon temperatures will top off in the mid 80's. your forecast highs, 86 degrees for philadelphia we will be in the lower 80's at the shore, great beach weather, and up in the mountains gorgeous conditions as well, pleasant, low humidity with a high of 79. lets talk about how long the warmth last in the seven day forecast but how sit looking out there the on the road. >> it is looking good, talking about the beach still, into mi

i will take a look at the s&p 500 correlations with the shanghai index. who would have thought what happened in shanghai would have such a direct impact. this is the correlation. you can see a big move up over the past two weeks. let's zoom in here on this year in particular. 2015. we zoom in on this area. you have negative correlations for the first two months. in the third quarter we modeled around here. july and august, we pretty much go to the highest since the early 1990's. one thing to note, everyone can breathe a sigh of relief because markets are closed. we have labor day on monday. alix: for more on markets i want to bring in our guest joining us from stanford this afternoon. we have trauma when it comes to stocks over the last few weeks. what do we do with an s&p when we see a 1% decline in september which is historically a bad month? guest: historically when you have a weak august, and start the month of september week my the rest of the month is weaker than the normal september. that from a seasonal perspective may not be positive. looking at

the s&p up 10. are watching "fbn:am," your first look at morning markets and breaking news. ♪ lauren: breaking news this morning. helical antenna has taken a capitol hill to answer questions about the attack on the u.s. embassy in benghazi libya. im lauren simonetti. nicole: we are almost there. i am nicole petallides. we are checking out the stock markets closed because of a parade going on. calm returns to global trading for the moment and the global markets right now and rally mode. after the dow surged 300 points yesterday commit dow futures this morning been higher. up about half of 1%. s&p up 10 handles as debate on the ecb. lauren: asia not looking too shabby either. the shanghai and hong kong looking better today. japan's nikkei up half of 1% prefer 1%. first tries in four days. nicole: stocks open higher with further easing in what everybody's looking for. the ftse, cac and dax all looking up. lauren: absolutely. some weakness however. crude just turned slightly to the downside to $46.17 a

the nasdaq and s&p also down more than 1%. keep in mind, folks, this part of the day has been the most volatile part of trading during this rough patch for the markets. hi, everybody. i'm brian sullivan in for tyler mathisen today. >> mandy drury, live on the floor of the new york stock exchange. hello there. i'll get back to the markets in just a minute's time but first we want to get to the jobs report from this morning and the impact that could have on the fed decision which is due out in just 13 days. >> senior economics reporter steve leisman is here now with more on that jobs number. how this all plays into the federal reserve. i like jim's point there in halftime report which is if they don't move in september, we're goi -- in december, we're going to drive ourselves in sane. >> this is right in the sweet spot of the fed's full employment number. maybe that number is going to come down but right now they're between 5% and 5.2%. over to the 173, that's the payroll number for august. that's below the 220,000 that was forec

no one is going to do the next one. there' s a lot of that happening in the energy space. as a lot of secondaries trading relatively poorly. i think there' s a different systemic on situation in energy than in financials. on financials, when you do have a systemic issue, the love that they' re undercapitalized and anyone who' s put in additional capital has done poorly, that' s a very tough cycle to break. gary: -- steve: one other thing that' s different is world savers are demanding a huge amount of safe assets. i think the world is in polk -- post economic stress. the average individual cannot believe they lost one third of their portfolio. they see that one third and plus return to their vote for, they are still wary about it. anthony: "wall street week," will be right back. >> wall street week is sponsored gary: start with rob, talk about your end. what do you see the markets -- in a bull bear cycle? rob: i think we' re going to be higher than we are today. statistics show us that, just looking back through history. we are in an environment of accelerating growth, low

the term is not around in the 1970's, -- you know, the term is not around in the 1970's, but the concept is there. the united nations implemented a number of development programs aimed at getting poppy farmers to grow other crops, and that crop replacement. now it is referred to as alternative development. essentially, it is just that, attempting to get poppy cultivators to grow other crops for export. in the case of thailand, it was a whole host of things. but the program in thailand, which took about 20 years to ave an effect, was seen as model of a successful program. therefore, if we can do it in thailand, it should be tried in other places. occurred in lots of other places around the clothes -- around the globe, particularly in south america. ultimately, in the long run, the u.s. is providing funds for crop replacement in thailand and it a successful model because opium production does go down. it was seen as successful policy. dea agents would look at the amount of her tea of heroin -- purity of heroin. down. is going they know the supply has gone down. the amount being seized was

stocks tumbling, the s&p down over 8% this quarter. joe: the question is, "what'd you miss?"quity markets hurtled towards their worst quarter since 2011. something's rotten in biotech, the sector getting slammed. why this sector more than the others. joe: glencore in freefall. than $14st more billion in value. we look at the charts. alix: we have to begin with these extremely ugly markets, the dow closing off by 300 points. you're looking at one-month lows here, the worst drop in four weeks for the dow. was was unbelievable to me the volume was much higher than the 10 day average, 26% more volume than the s&p, 17% more than the dow. joe: it was one of those days where people were throwing out down.ng that isn't nailed you saw a companies like facebook and amazon which have been really strong and have great fundamentals rolling over. you saw the bio techs. one company that got slammed was the pharmaceutical company valiance. there was a letter from a democratic committee in the house what thing to inquire about drug pricing. even though it's not going to result in legislation

we could move into the high 50's or low 60's. om there you will see prices be capped as the market anticipates that coming online. we will see more of a bathtub type recovery in the u.s., meeting subdued completion in drilling activity throughout 2016. and 28 and you make way for u.s. supply to grow, but we see subdued activity and the next quarter. alix: bathtub recovery. that is the coolest thing i've ever heard. joining us from princeton. coming up, it is back. the debt limit returns with plenty at stake. we will discuss after the break. ♪ betty: welcome back to the bloomberg "market day." i am betty liu. we will look at how currencies are doing. you have the yen. you can see, the subject of that safe haven buying, in one week we have seen the yen gain almost one percentage as you can see on this one week chart. the euro is also being benefited by the safe haven buying. what we have seen and the market in the last few weeks is volatility. that is the keyword. on that note, let's look at how equity markets are trading. we have a

for instance, the energy portion of the s&p. if you're looking for declines for the quarter, we're down some 23% and there's a lot more fear back in the markets with these massive declines we have seen in the last three months. a lot of volatility. we don't have as much complacency as some criticized before. we're almost breaking through triple digits up some 93% so you can sniff some of that fear. >> wrae, what a increase. >> let's move on. the u.s. senate will vote at 10:00 a.m. eastern time on the bill to fund the federal government since december 11th. the measure is expected to pass with a simple majority. it then goes to the house which is also expected to pass it by the end of the day avoiding a government shutdown at midnight. the house is also scheduled to vote an an amendment to defund planned parenthood but that's not expected to get past the senate or president obama. >> republican leaders in congress have reportedly opened up discussions now with the u.s. p barrack obama about a possible two year budget deal. the wal

take a look at the s&p 500. volume today is on the heavy side, not as heavy as last week and still pretty heavy and we set a series of weak rallies and weak selloffs and that's the way it is. let me show you the sectors. i'm most confirmed about the financials. don't like when the financials bleed lead on the downside and telecom and utilities are on downside as well. that's very interesting. take a lack at some of these -- these dividend payers, duke, con-ed, excelon, at&t and verizon. nothing to do with china. don't sell in china. con-ed doesn't sell in china. whole market is down 2%, 3%. look at regional banks as well, comerica, zions, sun trusts. these guys aren't active in china. this is not just a china play. my point is there's what's going de-grossing, markets taking on lower risk. what you want to look for here, brian, everybody is looking at old lows, but we're a long way. i think it was 15,370 on the dow is the monday low. that's almost 700, 800 points away, melissa, from where we were or where reare r

a big market that is not usually the market for the model s. e done a survey that shows when we initiated it a few months ago we did a survey that shows there is 7% of survey respondents who in the market for a car who would want to buy a tesla. there is demand enough for both cars. it is different preferences for different people. and i don't see a cannibalization or a pricing issue. we surveyed owners a few months ago and asked them about what car they had and will own and people are paying a 60% premium to buy a tesla. so 13 of the top 20 models had an asp of less than $60,000 for the people who owns it before. so i don't see the issue with placing or -- pricing or too high of a pricing hurting them right now. >> dan, great to hear from you, of jeffries. >>> paypal has been crushed. more pain ahead. and so now mike has all of the action. >> seven times the average daily put volume in paypal today. the second day we've seen it. a buyer of 15,000 puts and today another 15,000 put buy. october 30, 20.5 straight puts and if this trader is right,

posts 1960's into the 9 70's. as one north korean i grooved from escambia county said, an african-american gentleman, when we saw the escambia county sheriff's department, we were taught to run, to fear them. that fear carried over into the 1970's, and the reputation that the sheriff's department had within the african-american population is not only could they brutalize but in some cases they could even shoot to kill and the officers would be exonerated by a white grand jury, that they would never have to be accountable for their actions. that's really the episode -- or that's the topic, the fear of white sheriff brutality that really brought the races into direct conflict with each other in pens coal la in the mid 1970's. there are many indications that the economic gap between whites and blacks in escambia county is much more voluminous than it was 40 years ago. i examined the gap that exist between what african-american income is now compared to what white income is now and how that has changed over time. per c

i am looking at the s&p versus stocks over the 200-day moving average. the s&p is the white line. the white line is that 200-day moving stocks. , theig concern for louise famous chart-watcher. her point is when we saw the markets rally above this level, did not go above 60. we did not see the stocks participate. it speaks to the left of breath -- lack of record in the markets, our number one concern. a wayt: these charts are of quantifying where we are going to go from here. everyone is looking for a clue. you can say last time it did this, will it happen again, or how much dislocated will it be? alix: exactly. now for a look at stories making headlines. u.s. economy expanded across .ost regions and industries six of the 12 districts reported moderate growth and five other side expansion was modest. fed officials will get an additional month of data when labour figures are released friday in washington. official members will meet september 16 and 19th. addedt: adp says the u.s. 190,000 jobs, slightly below what was expected. productivity rose 3.3%. employee hours and condensation

the s&p downgrading brazil to junk. on monday where they threw in a tower -- threw in the towel on dividend production and things like that. it is interesting. it feels like after a really big decline in commodities emerging markets overall, we have seen big negative calls and actions and you wonder if we are getting close to the bottom. alix: four charts right of the top of the show. do not miss it. we are super psyched about it. we will be back in just about 15 minutes. still ahead, how the oil route is fueling growth for tanker companies. we will hear from the ceo. ♪ alix: commodities have been holding up today, very surprising and relatively no news. >> -- let's take gold. here, he see the movement upwards as stocks have moved downwards in the premarket session, holding onto those gains even throughout the session now. also here though. it is not snapping declines. day copperstraight has been higher. copper and gold also continues its bounce from the lows. more than any other u.s. stock. a slump we have seen in the

the s&p 500. here is a look at futures right now, suggesting things will be very different this tuesday after labor day. he was equity indexed interest as you can see here, up 270 points. almost one point 7%. treasuries, meantime, are a little weaker. investors appear to have an appetite for risk. yield ticking up here the dollar index, as you will see here, is slightly down. even with a weaker euro and a weaker yen. some of that has to do with marginal strength. here are some headlines we're following for you this morning. the european union is coming up with a plan to do with the biggest refugee crisis since world war ii. the ecb president will unveil proposals tomorrow and is expected to say the best way to handle the crisis is for all 28 countries to take refugees in. he has thus far taken and the bulk of the migrants and it wants the rest of your to do its share. >> we can handle the integration of 800,000 refugees this year in germany. it is clear it cannot be repeated every year. policy.a d

temperature goes from the lower 90's to the 80's. 8 a on -- 85 on friday. first half of the weekend looks great. monday of next week. we haven't seen this in a long time. high in the upper 70's. maureen: all right. sounds like a change of season on the way. "world news tonight" with david muir is coming up next. >>> welcome to "world news tonight." making his case. a turbo-charged joe biden showing his passion. >> i'm mad. i'm angry. >> is he getting ready to run? as a new poll shows hillary clinton weakening. now second to bernie sanders in a key state and losing ground in another. is this race about to change? >>> tipping point. hundreds of thousands of refugees fleeing from syria. now triggering a global crisis, as they crush european borders. many tonight are now asking, what role will the u.s. play? >>> officer ambushed. another attack on police, this time in las vegas. a man shooting at two officers stopped at a traffic light. >>> blindsided. two high school football players in texas, caught on video, suddenly tackling a referee. why police are now loo

take a look at the s&p since the u.n. devaluation, since china widened the band and allowed the currency to drop a mere 3%. that's knocked almost 9% off the s&p since august 10. it's also killed a lot of stocks or at least a lot of stocks have taken big dives since then. a great example, because the casino and hotel company gets a huge portion of revenue from a chinese gambling destination. as a result wynn has fallen 30% since the yuan was devalued since august 10. it's had a lot of downgrades and is having a rough time. the same is true though surely for different reasons for netflix. netflix faces increased competition from apple, ali baba as well. and it's trying to globalize right now. you've seen netflix come down 20% since august 10, and if you look at my terminal, come on in to the terminal and i'll show you this chart here, year to date, netflix, you're still happy if you got in on december 31 because it is still up more than a hundred percent year to date. in the last week it's come down crossing through its 50-

two timesthose trade higher than the s&p 500. teresting, for the first time ever, last week, we close lowerell 2000 on the spot then the s&p 500. and now we have actually seen it 6 days. out of the last it's not the domestic story people are worried about. it is the global story. matt: we were talking about the fact that the s&p vix is super liquid and not necessarily a lot of people trade russell vol, so -- kevin: people look at it as an indicator of where vol is going. obviously these are names -- what happens to the belichick, they are smaller, more vulnerable to economic woe. we know the economic story in the united states is doing better than the world. tradelet me get a quick from you. you brought in a paypal idea? kevin: they were spun off from the parent ebay. they denigrate apposition with braintree a couple years ago. they just bought zune, which is going to compete and do well against western union. you have the january 30 five call. it includes the first earning announcement and got it as an independent company. zero d

andchinese in the 1920's 1930's were far from democratic. i like to see how chinese-americans coming from a racially unequal and divided a placefared in china, where political control is much more ominous and violent. >> how is the communist control of china able to maintain a firm grip on the time? >> in the time i am looking at, the 1930's, the communists were often on their last legs. the nationalists have been able to beat them. weakened the nationalist government and they were able to rebuild. they emerged a stronger force. so, the communist were not much of an influence on the chinese-americans i am looking at. it is the idea of the nationalist government try to make sure that the commonest are not an influence on anybody and you had an incredible political suppression. >> doing all of work, did anything surprise you? >> so much surprised me. one of the things that really surprised me is how little is known about the fact that chinese-americans are in china and helping to build the young republic and contributing in ways that we do not

the chart of the relation between the s&p 500 and the oil price. , the white, is the s&p 500. this historical relationship we see? >> they're usually pretty positively correlated. occasionally during really weird times, they can be negatively correlated like in the financial crisis or last year when oil was falling through the floor. obviously, what appears to be happening now is the correlation meaning back up, an their moving in tandem more often. and really coming back to all the things we have talked about. alix: thank you for helping us get a handle on this for today. much more coming up. we are following these markets with the dow off by about 300 points. stay with us. ♪ alix: we are moses -- moments away from the closing bell. i am alix steel. joe: and i am joe weisenthal. alix: u.s. stocks closing down across the indices from caller to oilwell treasuries rallied. joe: the question is what did you miss? the day after stocks fall as markets react to the fed decision. the watch begins for a possible october rate hike. dark forecasts. that stocks and bonds with both fall th

right now, the s&p and the dow are down.f you go to the eternal for just a second, you see the best and worst-performing stocks in the dow jones. you see every single blue component. the best-performing are down 1%, the worst-performing dow stock is excellent down 3% followed by jpmorgan and general electric. you see a lot of financials, banks, and energy stocks. whatever it is, people are dumping those sectors and really just dumping everything. it is a market that has become detached from your fundamental buying and selling. the volatility that has been thrown into it like a rock thrown into a pond, the ripples are still going out. when it stopped is anybody's guess. olivia: i want to bring in peter tchir. great to talk to you this money. when i spoke to you last week, you said you expected to see this volatility return. would likely see another 2% drop on the indexes which is what we are seeing this money. do you want to come in now or wait on the sidelines? last week, we saw signs of capitulation and fear which today, we

the vix futures curve. what does that say to you? sme the market is near-term worried, but longer-term basically what we have been seen -- slower growth, high free cash flow business cycle and i think that is alternately what the vix is telling us. when you see these humps in the near term structures, you see what the market rate is telling you, and look beyond that, six or nine months, the market is not seen that upset. .e had a spike in the vix people take advantage of that. longer-term, i think it's as complacency will rule again, and that is the way i'm thinking about this. erik: complacency, but complacency only up to a point, right? although the futures curve does suggest that volatility will decline or moderate from current levels, it will still be in the 20's, and the 20's, jim, are a whole lot higher than where we were a year ago, when the fix was barely trading north of 10. jim s.: 20 is more normal and that was abnormally low. if you look at the vix over a long amount of time, you would 18-22.vix it's the recent spike that h

it would have been used around 1850 in the 1860's. the 1860's. it would've been used in lincoln's caplet best cabinet room during the emancipation proclamation. they are very accurately drawn in this painting and the prints from the painting the documents that particular event. in 1869, president grant moved to the office from where lincoln had it in the lincoln bedroom to an adjacent room called the treaty room. that was the cabinet room until century, atthe 20th newh point he bought a cabinet and new chairs. black marbleormous french maid clock that sat on the mantle. it has a barometer and a calendar and a thermometer. you can monitor the conditions indoors, not outdoors. this sat on the mantle also from 1869 to 1902. it would be how the cabinet, when it was in, kept track of what was going on. one of the things that happened in the 19th century was that if the president came into office and saw things he did not find stylish, the government authorized public sales of white house things. some of these kinds of things that were the most historic

the white line, the s&p 500. the high-yield index has been making lower highs and lower lows and it is starting to collapse in early august. on s&p made its record high may 21. it soldiered on until mid-august. .oe: that is a great chart i want to look at my terminal. despite the turmoil in the markets the u.s. economy continues to not look too bad. is -- we hadine hasconference board, that been spread between the respondents who said jobs are plentiful and jobs are hard to get. more and more people are saying jobs are plentiful. hourlyd line is average workers. the purple line tends to lead the gold line. if you are looking for when are we going to get wage growth, this is another indicator that it should be coming as people get more optimistic about the economy and perceived to be more jobs available, wages hopefully rise. scarlet: when it comes to markets we are on average. we are not sure if we are up or down. choppiness is the word here. care to break it down for us, david, we got close to the s&p 500. the 10

stocks closing higher today with the s&p jumping. the question is, what'd you miss? what is next for the u.s. economy during turbulent times -- and mark what does it mean for interest rates? oil price decline. how asia may have triggered these low prices. we begin with the market. we're looking at stocks closing around session highs. the dow ending up 200 points. a gain of 2%eing within the s&p. utility was the laggards on the day. industrials leading the market. the 10 year, the yield has the biggest move up in a week. the nasdaq has turned positive for the 2015. saw,onster volume we investors were pulling money out of investor funds. the biggest withdrawal in two years according to ici. stock funds saw outflows of $1 billion in redemptions. funds blended with stocks and bonds. $4.3 billion pulled out. catastrophe wee have seen in the markets, is anybody going to commit big on the long side? we get a nice rally today but in theory is this going to be an uptrend if china cannot stabilize? pimco.g news on matt: the total return fund has fallen below $100 billion in as

forecast for tonight. 52 in the city. 60's elsewhere -- 62 in the city. 50's elsewhere. melanie: thanks so much. and historic pilgrimage is happening today. sam sweeney is in york, pennsylvania, where 100 women are marching 100 miles for the pope's historic visit. we will get more on that in just a bit. we will have more news melanie: welcome back. we have a few issues on the roads. jamie sullivan is here. in thea disabled truck clearing stages but currently on that the freeway. this will affect you in the d.c. area, trying to get closer to 295. the right lane and the bridge are blocked. we see everyone backed up. a lot of people are getting over to look at the activity. again, in the clearing stages, and will hopefully be out of there soon. let's talk about the beltway. not too much of an issue through prince george's county inner moving well.r loop no delays getting to the wilson bridge. pre-quiet so far. 60 -- pretty quiet so far. 66, your commute is in the 20's. getting through falls church is a little rougher leaving the city. usually causes a backup on 66 leaving th

the blue is the s&p. he average short interest on stocks across the s&p 500. across the past couple of weeks, it shot up quite a bit. it has not come down. look back at previous dips, you will see a bit of a peak in the short interest -- shortly after the low, you see a lot of covering on the short. investorst seen saying i'm comfortable with this bottom, i will buy in now. that is the start of a recovery rally. we have not had that. that has failed to put a floor under any selling. mark: to what degree are institutional investors driving this selling? oliver: quite a bit. there are a lot of hedge funds getting hit pretty hard that were in biotech. you have to consider the fact that they are driving a lot of the shortselling. they will have long positions in as you see the- global growth concerns elevate shortageyou saw the get high. the hedge funds are largely part of that. if you look at the most shorted hedge fund stocks, the goldman -- the biggest drop for the index. mark: talk to us about the individu

the dow down by just high of 2%. s&p down by about 2.5%, nasdaq down 3%. 2000 down close to t bill, for the month of september a full half of the trading sessions have seen swings of 1% or more. >> and it wouldn't take much of a selloff tomorrow to take us back to those lows that we put in on august 25th by seems to be what everybody is waiting for to happen. >> every other technical level has been blown through except for those august 25th levels. >> meantime, cuban president raul castro speaking before the united nations general assembly in new york city right now. michelle caruso-cabrera has the latest. michelle. >> he just started speaking a few moments ago. this is the first time he speaks at the u.n. general assembly as the leader of cuba. he took over in 2006 from his brother if i had dell who had taken over back in 1959 mplts i fully expect him to say that he wants the u.s. embargo against cuba to be removed to end president obama said he would like the same thing himself earlier today. i would be shocked if he doesn't bring it up. this is the first

why did you revise down your forecast for the s&p? >> last you for the quarter, we had a correction. this year in the third quarter, we have a correction. the last four years between may and october we are fallen 6% to 12%. whenever you have a drop in the later half of the year, you will not hit the year-end number, you keep pushing it out. we are at a fork in the road globally. europe once as to hike road -- rates and china probably doesn't want us to because they do not want the yuan to float up with the dollar. like yogi berra said, just take it. olivia: take it which way? so your target is 2200. how to remove another 10% higher on the s&p? -- how do we move another 10% higher on the s&p? >> i think there will be signs of better global growth. china probably stimulate somewhat to hold the line on growth and avoid a massive deflation. the market will subside with its worries on that. europe is picking up as far as we can see, other than a few data points, particularly in the periphery in terms of credit and exports to non-eurozone de

spinoff of alibaba the company's board, yahoo!'s company board, oughtrizing the company to continue to pursue the plan for the ad krr o spino spinoff. that's the late, back to you. >> seema mody. thanks for that. kind of felt like we -- that they had said that, yeah. >> well, yeah, and we also had that big lockup and talking about really the only people that were ready to be sellers in this that were probably 5%, rest were all insiders. wroo is one of those insiders and certainly this is the case what's good for yahoo! is bad for baba where they have been trading in lock step. reiterate, some of the parts, even alibaba's price today, says yahoo! has 40% upside. >> shares of the mining giant glencore tumbling 30% and hitting a record low on heightened fears of falling commodity prices and glencore shares are down a staggering 75% and karen has been taking a look at something more troubling in the debt. >> as we talked about, look at debt and that tells us something. you see that the glencore debt is absolutely getting crushed. credit

the s&p 500 down to. by almost two points. ack with more. ♪ ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. scarlet: it is noon in san francisco, 3:00 in new york, 3:00 a.m. in hong kong. pimm: shares of glencore are rebounding. they say business does remain robust. was the selloff overdue reaction? bewarde. e. scarlet: can you back up his post? the things that keep our icon of that night. warning when it comes to the market, it is all a little bit of history repeating. scarlet: good afternoon, everyone. i am scarlet fu. im pimm fox. a look at what markets are doing right now. buying, selling all day long. julie: scarlet and i talked an hour ago and said looks like we are's napping the losing streak. i said you might want to table that. theoks like we are snapping losing streak. anything goes at th

the nasdaq. so we're going to be down some 30 points or so. s&p futures also lower by 2 points and the nasdaq is pricing in declines of 11 points or so. let's check in on the dollar index. we did have the decline when it comes to the u.s. dollar versus all of it's major trading partners. so we have delines by .5%. the two year yield coming off by 13 basis points and instant reaction to that move to the fomc and a lot of people are not expecting a rate hike at all this year. also as you see the yield curve really push down for the long bonds as well. so has the federal reserve really assigned itself a third mandate as well by placing so much emphasis from its rate decision on global factors and global financial conditions? chair janet yellen explaining her concerns for the health of economic activity out side of the united states. >> the outlook abroad appears to have become more uncertain of late and heightened concerns about growth in china and other emerging market economies have lead to notable volatility in financial markets developments sin

one had third-degree burns to the face. skeleton,s now a immersed in the shadow we waters. >> it does not even look like a boat anymore. kevin: the department of natural resources said the boat will take a long while to investigative. one, the boat is still stuck in the water. more importantly, even when they get it out, the boat was burned to a crisp, making the analysis a tough feat. kevin lewis, abc 7 news. kellye: a retired prince george's county fire chief was killed overnight in a crash. he retired nearly six years ago after 20 years of service. the police say that the car was traveling southbound on route to make ahe tried left turn onto old fort road, colliding with another car. she died at the scene. the other driver suffered nonlife threatening injuries. crash is under investigation. d.c. mayor muriel bowser is ok after being involved in a fender bender this afternoon. the house or got into the minor accident on i-295. nobody was hurt and she resumed her public schedule later in the evening. .- nobody was hurt changes are on