tv Countdown to the Closing Bell With Liz Claman FOX Business September 16, 2016 3:00pm-4:01pm EDT
fox news, i sure hope you watch and i sure hope you like my facebook show page at trishintel, or trish under score regan. have a terrific weekend. see you at 6:00 p.m. liz claman. liz: we have an insane hour in the campaign trail. donald trump is expect today meet with haitian community leaders in miami at any moment as first lady michelle obama is on the right side on your screen to make her very first campaign appearance for hillary clinton. that's in virginia. the clinton campaign is insinuating donald trump is racist because of the birther issue. trump's response, president obama was born in america, period. so we are taking it away from that to the battleground states, ohio and florida appear to be jump balls at this hour.
heavy hitters from both sides of the isle are huddling with the president to talk trade and ttp, ohio governor john kasich, mike bloomberg, can they help the lame-duck president get it done when both hillary clinton and trump hate it. the hottest gadget in america has been on sale for seven hours. these are our cameras, trained on what were very long lines, they have completely thinned out for the iphone 7, what does that mean? on wall street bank stocks down. dow jones industrial down 96 poingts, a positive finish to the week might be in jeopardy, we will find out in 59 minutes because that's when the closing bell rings. we will start the count down. ♪ ♪ ♪ liz: breaking news this hour.
we need to look at wells fargo stock, it is falling about 2%. the pressure is ramping up on both the company and ceo at this hour. the stock is down in part very much because ceo john has to pull out the bag and hit to washington, d.c. two congressional probes, john has to appear before the senate banking committee on tuesday and then before the house financial services committee later this month in the wake of that phoney ghost account scandal where the bank was setting up bank accounts for people, charging them for it and they never asked them for these things. it's become a huge issue. to the markets, one week ago at th exa timthe w wa ummeng 4 pois. what a week since then for wall street? up triple digits, and you see right now down about 96 points. september absolutely live to go reputation as the choppiest month of the year. where were stocks in your
portfolio today? major indices on track to end the week on the green. that could all change in the next, let's call 56 minutes. be sure to stay with me as we track every single move and tick on wall energy, it is the worst performing sector in s&p 500. crude oil actually took a nose dive to a 5-week low today, we can look at the price right now, i want to tell you that the worst point of today, we had crude at 42.74. right now you can see the energy names that are pulling back and causing the markets unbalance, everybody to explorers to drillers. a rough week if you own financials. jpmorgan and goldan sachs leading the losses. we have an hour to go here. it's fallen 9 and a half percent
after the german banking was slammed with 14 billion-dollar film but the justice department heading all the way back to what had started the financial crisis. it's not all gloom and doom. intel is making investors right now leaving the dow after the chip maker boosted third-quarter revenue forecast, stock 52-week high, specifically intel says pc demand is coming back. we heard that before. let's see if it comes true. to virginia where first lady michelle obama, take a look because she's taking the stage, indeed. she has just taken the stage in the campaign trail hitting the trail for the first time on behalf of the democratic nominee hillary clinton and then there's this, donald trump is expected to stump in miami but it's not the only duo happening at the moment. billionaire versus billionaire with mark cuban escalating his war of words with the republican nominee. it was born right here on fox business but blake berman is following what, i guess, is
another fire ball thrown into the fray. blake: and who doesn't like a little verbal sparring between one billionaire and the next, lids, from time to time? specially here on a friday afternoon, nonetheless. yes, it is between in this case donald trump and one mark cuban. this goes back to last week, you might remember mark cuban appeared on cavuto coast to coast and cuban had said that he has a hedge in his portfolio for the possibility of a potential president trump and if donald trump wins the race that he is bracing for the markets to quote, thank you. well, donald trump appeared earlier this morning with maria bartiromo on mornings with maria and maria play that had very sound bite for donald trump and as one might imagine in his response, trump did not hold back. >> mark is not -- i really believe not smart enough to understand what's going on. heist a mixed up guy. i think -- i think this, look, i
think that this plan is a great plan, we are in trouble, explain to mark we have $20 trillion in debt, we have high taxes in this country, very high taxes. blake: cuban did not sit back, no, no, he didn't. he took to twitter after the interview and here is what he said, i will read you three tweets, i'm quoting here. he said donald trump you must have flunked economist when you didn't get into penn, your plan is gibberish. he then went out and laid out this plan to donald trump as well. five different points, starts with this, quote, $10 million to the charity of your choice if you let me interview you for 4 hours on your policy and their substance, cuban went onto tweet quoting here in the words of you, what do you have to lose. cuban there, liz, trying to flip the script on trump as we know
trump has called for potentially a moderator debate and cuban hey, i will step in and ten million dollars to do it. liz: i know you are but what am i. i'm kidding. blake: it's twitter, we could do this all day long. [laughter] liz: listen, thanks so much. blake berman. we take it right to our battleground experts, former ohio congressman denise and former florida senator george, they're going to weigh in on the tightening presidential race specifically in those two key battleground states, ohio and florida. speaking of ohio, look at the ohio governor, this went down at the white house, ohio governor john kasich, a republican standing at the podium of the president of the united states, how did one of donald trump's
biggest primary contenders rivals get there? well president obama invited him along with other big business leaders and elected officials there to talk trade. former treasury secretary, billionaire former city mayor, bloomberg, all on hand for one of the president's final chances to push his bipartisan pitch on the ttp, transpacific partnership trade deal. with this being one of president obama's priorities, will he able to get the deal to a vote and if so would it be able to pass by the election in november or perhaps right after? let's bring in trade representative ron kirk who is with me. embassador, we have viewers right now who are workers, who are ceo's and who are politicians wondering, does it get before a vote before the election or certainly right after? >> well, liz, i certainly hope so. and thank you for giving me a chance to come back with you
again and what we saw today in washington with the president and the group that you just referenced is way we have always advanced trade and i will say this as a former mayor, mayors and governors, governors live in a world in which we talk about jobs, and most big city mayors in america, democrat or republican understand the importance and the value to our communities to our ability to create jobs where we live and work by being engaged in the world. and that's what this trade agreement is all about and in particular this transpacific partnership gives us access to the fastest-growing market in the world, and in the slow economy, the one thing americans should embrace, the words made in america are still the most treasured brand in the world and it just makes good economic sense for us to go out and sell to the 95% of the world's
population that doesn't live in the united states. i wasn't surprised to see such an impressive group today. i hope your listeners will understand even in the midst of economic anxiety, one of the drivers of economic recovery has been the fact that we have been exporting more to the rest of the world. liz: i'm glad you brought that up. we export a lot to méxico, they import, but we export about 235 billion, make it 230, first six months of this year, we have already exported, i believe, about 132 billion. they are buying our stuff. a little bit less balanced in china. china is a consumer nation at this time. here is the complaint, ron, about the ttp and other trade deals. we lose jobs here in may recollect -- america and it's a
fact because there are jobs and balances and the famous one is carrier, the air-conditioning company that donald trump is talking about, they took jobs from the state of indiana, the vice presidential candidate -- hold on, i want you to respond what he said on fox business. mike pence articulated what he was told by the ceo of carrier, listen and then you can respond. >> i had the folks in my office that run that company and they told me that part of it was that all of their competitors were already in méxico. lizly all the competitors were in méxico. they had to go because labor is cheaper, what do we do about? >> look, i can't speak to carrier's example but, you know, part of our challenge for those of us who believe in trade, it's so easy to focus on the one business that says it's going to méxico but we never focus on the fact that mercedes is building production here in the united states now. all of the bmw x series are made
here in the united states, toyota is building trucks in my home state of texas. this is a two-way street and manufacturers tend to make stuff where they're going to sell them. i think if you look on balance, it is unquestionably -- unblable -- unquestionable that our economy is stronger when we engage with the world. liz: we don't want to hurt the consumer. hopefully we can deal with this. i find it ironic that this is one of the things both candidates don't agree on. >> this is one place where i disagree with both of them and the one thing we need, and i appreciate you bringing me on your show, look, there is a huge economic anxiety particularly among middle-class americans,
but the reality most of the jobs lost to manufacturing in this country over the last 30 years have been due to automation on the factory floor and robotics, not trade. but it's a whole lot easier to blame it on trade and everybody thinks that's auditory world but we don't want to live in a country in which america sticks its head in the sand and ignores the hard reality that 95% of the world consumers now live some where else. we wanting to out and compete and win that business and these are people that want to buy what we make and with respect to mr. trump, if it's good enough for him, it's good enough for us. there's a reason donald trump is building projects in india, china and all around the world and we've highlight it had fact that none of the clothes are made here. so if it's good for him, it ought to be good for every other small business that has a product that they want to share with consumers around the world and the way we access those markets is by negotiating smart,
tough trade agreements like the transpacific partnership. liz: smart and tough. ron kirk, former u.s. trade representative. more of my interview online, you can go to lizclaman.com. dow jones down 98 points in the first day out of five that apple is down, losing 73 cents, 114 and change. we already talked about intel, you can see at the very bottom, united technologies that is a real problem at the moment. utx is down right now 2.51. right now the markets, they hate uncertainty but what's the biggest question mark for the markets? is it the election or is it the fed? maybe oil, we are going to take it up with our floor show coming up next.
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on presidential debates. republican presidential candidate donald trump will take on his democratic rival head on on what is shaping out to be, of course, you know, one of the most heated debates in decades. the rating, can you imagine? we have billionaires, investors all in the edge of the seat not necessarily ahead of debate but the next meeting. >> we should have done something two years ago, interest rates are very low and creating serious reaching for yield, risks which will have a bad ending. liz: is that a fancy word for bubble? >> yeah. the worstsing what the next rate will be into an olympic sport. liz: what do you think, skiing? what's going to happen?
is the fed going to pull the trigger on interest rates? i'm not talking september but maybe december? let's bring in former vice president of the dallas fed jerry and he was also the former dallas fed ep economic adviser along traders of cme group. to the markets at the moment, keith, i'm very interested to know iser oil or worry of what's happening with the fed next week that's bringing volatility? >> a lot of people forget that september is the most cruel month when it comes to equity market and investing. october is the month that garners all the headlines. september is the worst month. we fully expect down here on the floor that once we get back from labor day we will have volatility. 2016 is a special year because you have so many things going on around the world and one which is presidential election.
throughout september you will ree back and forth. ekfter the fed comes out and does a raise interest rates and give us a dubbish statement. liz: either way, people are wondering if that is a bubble, when you talk about what's happening here, it does makes people wonder is the fed pushing into risky assets, people are watching looking for yield. >> yeah, of course, it's a financial asset bubble and people shouldn't be taking risks and it's not going to be any pretty way to end this. at some point they will have to raise interest rates and when they do we will find out which assets were overvalued. they put credibility on the line and members that think they should do it.
so i think the consensus is moving but i think it will be december. liz: if the fed waits for clear skies over single nation that has an economy, we are never going to see anything. no, we are not. here is the deal. maybe i'm rumple stilskin right now. i agree, the problem here is this, the u.s. economy doesn't have an interest rate problem. the federal reserve has an interest rate problem. now they can't raise rates without causing a lot of bad problems but they want to raise rates to make things look like they're going to be healthier and we have some more fat put back in the system they're stuck, there's no where to go. it'll be interesting to see where they wiggle out of this. so oil lower for longer, interest rates lower for longer. liz: we have the consumer price index number which is indication
of inflation at the consumer level and to scott's point, do they didder too much and talk too much? >> they talk too much. they are fighting in public. this should take place in -- in a conference room, in the meeting room not in front of a camera. liz: do you guys agree? >> yes. liz: we initially liked the transparency but we had seen the volatility it causes and here at fox business we are covering every single move or fed head, the dubs versus the hawks and who said what every five seconds. >> yeah, part of the problem, liz, is that you've got all 12 fed bank presidents talking, you've got most of the governors talks and you have stanley fisher who came into the fed and didn't like the way they were jaw-boning the market and you have messages coming out. i actually look going back to the greenspan fed which i know
jerry was part of and remembers where all we do was every meeting we look at which arm he was carrying briefcase in and then we guessed. liz: do we go back to that, gary, shall we go back to that time? >> the transparency doesn't work. maybe the members weren't ready for it. liz: keith, scott, have a good week. be sure to tune in to wall street tonight, ubs manager and capital management ceo bill smeith, markets, where people should be putting their money and, of course, what the fed might do next week. 8:00 p.m. weekend and stick around for stossel. look at the dow still down 91 points. you don't have your apple i7 by now, you're not getting one. adam shapiro with some of the
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. liz: so we've just gotten this video in, self a nation unite here. this is tim cook in palo alto. he is taking selfies with people who have just gotten their hot little hands on the iphone 7 which has not one but two cameras. 28 millimeter wide angle lens, fixed element design, 6.8 aperture. there is tim cook taking a selfie of himself with tim cook. a little profit taking because the stock's been on a tear, apple pulling back just a half a percent at $114.96. i believe the high of the year is $124, $125. you might want to ditch waiting
in long lines for the new iphone, apple says some models of iphone 7, can't get them anyway. they're already sold out including the uber popular jet black version, not just black, jet black that everybody wants to get their hands on. adam shapiro for people who are in line have your hands on one, right? fifth avenue, you are there, i don't see the lines behind you? >> the line is really small. in years past the lines were much, much longer, but i want to show you the video from this morning when they opened the door and let the first people in line went in. a lot of the people preordered the phone. all iphone 7+ gone, you couldn't walk in and get one, the jet black iphone base model was sold out as well. but you could walk in and get a phone today. there were people in line from all over the world. we spoke to a man from uzbekistan, he's a student, he's going back tonight, he wanted a phone because he
didn't think he could get one for quite some time from his own country. she is from israel, she's going home tuesday, she's going home with an iphone 7. why did you wait until today to get it? >> i just wanted to do the preorder and i didn't know that i can do the unlocked phone, and then i came here, and they told me that i have this. >> reporter: let's show everybody, you keep telling bus it. you came today, the line, you thought it was 12 hours, what happened? >> my cousin told me she was here since 4:00 a.m. and she was -- i thought i was waiting for 12 hours. >> reporter: and it was only two hours. >> actually one. >> reporter: there you have it, she got her phone in one hour. it's a backlog in israel for delivery of the phone, november or later. in the united states, ariel is
telling me it could be up to four months from friends in israel are telling her. she got one. liz: did she get a white one? >> what color did you get? >> the silver one. >> are you happy with the silver because they are sold out of the jet black? liz: i want the purple. >> reporter: make sure you don't get a purple samsung galaxy note 7. they had a recall on those. liz: it happens. >> it's going to cost them $5 billion. liz: timing not good for samsung, companies get over recalls. adam, thank you very much. adam shapiro in midtown manhattan. closing bell, we're 28 minutes away, stunning news that may upset some of you. 90% of the experts managing your money are failing at it. they can't match the s&p. we've got cantor fitzgerald ceo shaun matthews standing by, what he thinks about the money
guys unable to beat the markets and how that may actually help cantor fitzgerald. they're the middle man when it comes to effectuating trades. trump looking to capitalize on a big week of polls, moving battleground blitz south to the sunshine state. up next, not one but two voices from key swing states that could be the ultimate deciding factors in just 52 days. florida senator george lemieux and dennis kucinich. ohio, florida, you know what we're talking about. don't go away.
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levels of the session with the dow down 67 points. the s&p off 6 and the nasdaq down 2 points, markets on track to post gains for the week. citi shares down 1.5%, lowered rating from buy to neutral citing the company will miss profitability goals. historic change today, 11 s&p sectors instead of 10 for the first time since 1999. publicly traded real estate trusts or reits are moving into a sector of their own, the reits had a market value of 689 billion as of june 30th and account for 20% of the financial services in the s&p index. oracle shares much lower after first-quarter earnings missed down almost 2%. great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you.
cars, you know, the good news is it's not an emergency. hillary clinton is expected in less than two minutes, if she's on time, to go tape jimmy fallon's show at rockefeller center. so we have our cameras trained on that, and then let's flip it down south to miami. this is a live picture in miami, florida, where donald trump is expected to speak before a group of haitian voters, he is stumping for obviously the swing state of florida, and we're watching two states, florida and ohio. quite frankly the importance of winning either of these states cannot be overstated. no candidate has won the white house without taking at least one of them. our next guest hailed from each of these states, former democratic congressman from ohio, dennis kucinich, former republican senator from florida, george lemieux. it's a jumpball between the two candidates, gentlemen, for both of the states. if you look outside of the
margin, donald trump is leading in both states by few points. senator lemieux, to floored, that is your state, a different voting bloc, snowbirds, retirees who moved from conservative states, now live in florida, and they are starting to matter quite a bit in florida, could they be the key to somebody like donald trump if they're conservative? >> liz, they could be, there's been a lot of talk about the changing demographics of florida in terms of hispanics moving to florida. the point you make is a good one. we've had a lot of retirees from the midwest coming to central florida for example. the city called the villages that's a new city hosting a lot of the folks and they're conservatives. they're republicans and they're going to vote for donald trump. that's why you see trump doing well in florida. his campaign has been well run, a big improvement from before, and donald trump is up by three point he was down six points to
secretary clinton. liz: true, and yet latinos are a huge important voting bloc in the entire nation. we know florida has quite a new latinos. hillary clinton beats donald trump in the poll 66% to 20% among latino registered voters. let me get to you, representative kucinich. ohio, what's going on the ground in ohio right now. it appears to be a toss-up, donald trump has a slight lead. >> i think we'll be watching election night, returns will be going back and forth and won't know until the wee hours of the morning who will win ohio. it is going to be extremely close. let me tell you about a factor that isn't get much attention. a few years ago when the state legislature in ohio did the redistricting. the democratic party, and i been this personally, it affected my seat, the democratic party agreed to the deal where they have four safe democratic seats, the republicans had 12 safe
republican seats, so there's no synergy that's happening between downballot races like congress creating a turnout and helping to pull over the line the nominee. this is a problem in ohio because the democrats have been weakened in their ability to be able to push a turnout with the help of downballot races. liz: ohio with 18 electoral votes, crucial as well as florida, 29 electoral votes. senator lemieux, what do you think donald trump needs to do? we may see many senators, many other politicians who were resistant to donald trump and start to say, wait a minute, he's getting some traction in key states and then they perhaps pile in. >> since trump has changed his campaign team with kellyanne conway running it now, the campaign has run a lot better. he's focused, positive, message has been clear, some of the distractions aren't there.
i think you're right, liz, the better he does you'll see more of the party establishment move to him. he's reaching out to new groups, speaking to haitians here in south florida. these are groups that the democratic party counts within their base and doesn't pay a lot of attention to and takes them for granted. he's going to try to exploit that. you will see more establishment like republicans support donald trump as he does better and better in the polls and if secretary clinton keeps saying things like basket full of deplorables and demonizing americans by calling them racist. that's going to hurt her campaign. liz: dennis, she seems to be where donald trump was a couple weeks ago or months ago, a little scattered and tripping it up a little bit, making mistakes here? >> well, i would agree that the quote about a basket of deplorables was a great misstep for the campaign. however, looking forward to the
debates, the debates are going to make a difference in the election because people will have a chance to see both candidates afresh and see whether trump can overcome his missteps and see whether hillary can engage the voters to try to address the trust issues directly. liz: ohio, florida, we have known forever that these two states are crucial. good see both of you from both of those states, ohio congressman dennis kucinich and george lemieux of florida. we've been watching the markets, it's been a struggle, less in the last 17 minutes where we pared some of the losses. the dow is down 73 points. let me get to wells fargo getting it from all sides in the wake of phony account scandal. the house financial services committee adding name to the list of lawmakers that would like very much to grill ceo john stumpf about how it's possible 5,000+ employees were
pulling this off and didn't get to his desk? should he be afraid of his board and biggest investors like the oracle will omaha warren buffett? charlie gasparino is about to break that down next on on "countdown." with this level of engineering... it's a performance machine. with this degree of intelligence... it's a supercomputer. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing the completely redesigned e-class. it's everything you need it to be... and more. lease the e300 for $549 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. we ship everything you atcan imagine.n, and everything we ship has something in common.
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the high of the year was 56. you can see this is a very tough time for the company because maybe they aren't handling it properly. senator liz warren of massachusetts asking the ceo john stumpf if the bank will use its clawback authority to grab back some of the compensation it paid to the top executive in charge of all these people pulling off the phony accounts? she walked up, out with 125 million, this is on top of the ceo heading to a senate committee tuesday and the senate financial services committee plans to call stumpf to testify later this month. there is one analyst who think stumpf will survive all of this, charlie gasparino. >> they paid $185 a share -- liz: million. >> more than $185, it could be $185. it's not a lot of money. but they lost market cap.
if you look at decline from 49 to 45. find out what the market cap loss is that, that's more than $185 million. the reason the stock is going down that much and such a market cap loss is because people feel meaning investors and analysts believe there is another shoe to drop on the company and it's going lead to, the bad news isn't baked in on this scandal which is amazing, if you think about it, 5,000 accounts, something like that, that were phony, created by people that tried to bill. liz: we know 5300 employees were fired, it may well be over that. >> think about how crazy that, is a bank that creates fake accounts. >> and charges people for it. >> here's what we know from sources. i'm going to tell you, i can't tell you exactly who this is, i wish i could, these are people close to stumpf themselves. what they are telling me, they know that his career, his
career as ceo is in jeopardy now amid this issue that is burgeoning. we have a house -- two congressional committee hearings he's going to appear before the end of the month, we have a u.s. justice department investigation. this is not about $185 million fine to the consumer financial protection authority. this is about potential criminal charges engulfing the bank and whether he exists. why does the street care about him staying? you would think he's a jerk, right? he headed a firm that did all this. i will tell you this, he's considered a very good ceo, aside from the scandal, this has been a very well-run bank. liz: buffett loves him. may love them a little less, actually. >> dick bove thinks other people are going to go, he thinks human resources are going to wack them out and there's going to be a lot of hell to pay. he thinks it's going to stop
short of stumpf because he's been such an effective ceo except for this. grown the business, grown the bank. liz: he's grown the business, hold on, this goes back to the mylan thing, they grew the business by simply hiking prices on the epipen. this is the case where they were in part growing the business by fennagling the phony ghost accounts. >> i don't think so. the appreciation, we should put up a chart of wells fargo. a well-run bank, one of the least impaired banks during the financial crisis. i think what you could say is aggressive sales culture bank. we do a five-year chart, it would be interesting. or ten-year? liz: it's coming. we'll be watching. >> that's a one-year. can we do a five-year? liz: did you order a five-year? are charlie, thank you. it ramps up monday as he heads tuesday.
>> the bigger thing is people close to him, they concede his career as ceo is in jeopardy, this thing is that bad. liz: charlie, thank you very much. charlie gasparino, closing bell six minutes away. a roller-coaster ride to the week is just about to end. we've had gut-wrenching news. i got a little bit more about your stock funds that you may be invested in. here to help make sense of it all, cantor fitzgerald ceo shawn matthews standing by exclusively. he's got the faith port and the ideas nar to turn into from the market storm. infinite scalability. the microsoft cloud helps our customers get up and running, anywhere in the planet. wherever there's a phone, you've got a bank, and we could never do that before. the cloud gave us a single platform to reach across our entire organization. it helps us communicate better. we use the microsoft cloud's advanced analytics tools to track down cybercriminals. this cloud helps transform business. this is the microsoft cloud.
umm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. liz: 90% of the actively managed fund and people you're paying to handle your money are failing you. there is a new study from s&p, it finds nine out of 10 u.s.
equity fun are not even beating the markets. despite awe the hefty fees that you pay that promise you big returns. hear to weigh in on this is the head affirm with 5000 institutional clients globally. cantor fitzgerald's sean matthews. we have another pretty wild day. we're down 85 points from the dow. you're a prime brokerage. you're a middleman. does this surprise you people pay active managers and they're not beating the s&p? >> look at the marketplace. certainly passive investors have become much more active. the etf market has been bigger last five years or so. really we're in correlated asset environment where low interest rates dictated how people's performances actually come about. when we go back to more volatile world, when interest rates start to actually go up in the next year or so, i think that could change. i think you could see active participants actually start to outperform.
liz: people are waiting, they are paying one, 2%. it is unfour rating them they can't even hit the s&p target which isn't skyr people are pulling out actively managed funds. how is that benefiting cantor as we look at a market extremely volatile because you guys can capitalize on the volatility? >> absolutely. i think volatility has been relatively low. in the last week it picked up. summer was low volatility environment. volatility picks up. active, passive we don't care. we're an active middleman. liz: why we like you guys. you will be probably active when federal reserve doesn't hike rates. what do you think will happen next week? do you think we'll see a rate hike in december? >> i don't. there is 50/50 potential in december. i would lean towards actually being a tighten at this point in
time. think they're a little bit behind the curve at this point. [closing bell rings. yellen has to figure out what is her mission. her mission isn't worrying about assets. but where we are. liz: sean matthews, cantor fitzgerald ceo. market is -- david asman and melissa francis, "after the bell," guys. david: happy friday to you, liz. stocks ending the day in the red, wrapping up what has been a very volatile week. i'm david asman. melissa: i'm melissa francis. this is after the bell. we have you covered on big market movers. here is what else we have for you this hour. brand new polls show donald trump's support surging while hillary clinton's numbers are sinking. got a lot of pundits changing their tune now, saying trump has a real path to victory. this as trump tries to put the "birther" issue to rest. the latest on this controversy, may be far from over. i don't know.