tim anderson, should they be holding off on popping the corks? >> you know, we have seen the market rally numerous times over the last year and a half on trade optimism and then later fail. but i really think that the game changer this time could very well be the story that you've had a couple times earlier in the day, that the chinese regulatory body will no longer require financial firms to have a joint venture in china if they set up shop there after june 1st, 2020. this is potentially a huge breakthrough. it's potentially a work-around toward getting -- requiring the chinese to change their laws on intellectual property rights. because if you're doing business in china and you're not forced in to a joint venture, with a chinese-owned or state-sponsored entity, you are getting your intellectual property stolen, it's kind of on you. so this is a huge story. liz: i agree. >> -- into other industries down the road a little bit, this is a big deal. liz: i would say you just pointed out the one thing that gives this time around more added heft. sco

to tim anderson. give me a sense, tim, as we look at what's going on with the market action, what you will be watching this weekend heading into monday. >> well, clearly we will be paying attention to the brexit vote and in terms of today's stock market action, i think we have to look just a little bit under the high impact headlines being boeing and johnson & johnson, which are attributable for all of the decline in the dow jones average today. and look at the degree to which investors are still rewarding companies that have positive earnings reports. coca-cola, up 2% today. a couple of other names would be schlumberger is up a percent and a half. it was up as much as 3% earlier. and kansas city southern in the railroad sector which has been beaten up quite a bit, is up 5%. so it's not like it's wholesale selling by any stretch of the imagination. liz: i will say, too, we will be talking with robert wolf in a few minutes about what the fed is going to do october 30th, but i will say the third quarter

get right to it, tim anderson. how do we spin this forward? >> well, look, i think the traders, after the last 12 months, from the selloff in the fourth quarter of '18 to what we have seen this year, have got to be pretty comfortable with volatility. if they're not, maybe they shouldn't be trading actively in the market. now, the great thing that volatility does, it helps us define levels of support and resistance and it also helps us identify which sectors and which stocks are strong and have very strong fundamental prospects. those are the ones usually that sell off the least during sharp declines and that rally the quickest on recoveries. liz: okay. phil, i heard you saying yeah. give me your sense, because it has been such a wild week. >> i'm afraid it's going to calm down. i was having so much fun, you know. i mean, the reason why i think that is because of th jobs report today was kind of like in the middle, it wasn't red-hot, there was some good, there was some bad, it's overall strong, you know. it kind of shakes off the fears of an im

tim anderson at the new york stock exchange, chris robinson at the cme and phil flynn as well. tim, to you first. what do you think? >> wow. let's get at that. sorry. go ahead. cheryl: dealer's choice. tim, go ahead. what do you say? >> i think that we've gotten through the first two weeks of earnings season where expectations were very low and the market has held in. we've had some misses, we've had some beats, but really, the stocks that have sold off in response to earnings disappointment snapped back pretty quickly. cat a couple days ago and 3m snapping back today from a decline yesterday. even amazon which was down 120 points yesterday after its earnings, and down maybe 90 points this morning, is only down about 30 points right now. on the positive side, intel is sending very good signals to the semiconductor space, up 6% or 7%. clearly, the trade headlines are positive, although we've had trade headline roller coasters many times over the last 18 months. cheryl: phil flynn, i thought of you this morning when we got the list of some of these exemptions. we got a note from t

chris anderson shared some new lights on john bolton and how he viewed rudy giuliani as being a obstacle to progress in the u.s./ukraine relationship. >> tomorrow we are expecting to hear from tim morrison. he was ascii figu key figure. he was as former national security council director for europe. >> if you never know what we are going to get from these career officials until their testimo testimoni testimonies, their opening statements leak out. one of the things we are hearing from each of these career officials is pushing back on donald trump's allegations that this is a deep state coming after them. you start to see a real picture of syria and career officials who had been working on behalf of the u.s. for years or if not decades. >> anna, thank you so much. >> let's turn now to tuesday's explosive testimony on capitol hill. arou alexander vindman told members of congress that he tried to edit the white house memo detailing the july 25th phone call between president trump and president szelensky to include details that is were owe mmitte. this was a direct contrast from what we heard from president trump regarding the same transcript to the call. >> they tried to take tha