Board considering clawing about for stumpf. An alltime high for amazon up more than 50 in the last year. Is it too late to get in on the amazon parade . Well explore that coming up a little bit here. Model and entrepreneur tyra banks gives us her take on the Business Climate and the new mba class she is teaching. She will be ringing the nasdaq bell from San Francisco and will join us live coming up. I love tyra banks. Really great lady. It was an historic night last night as nominees donald trump and Hillary Clinton took the stage in their very first oneonone president ial debate. While a number of jabs were thrown by both sides they also hit on important Economic Issues like trade and jobs and the fed. Listen. We have to renegotiate our trade deals and we have to stop these countries from stealing our companies and our jobs. We need to have smart, fair trade deals. We also, though, need to have a tax system that rewards work and not just financial transactions. And the kind of plan that donald has put forward would be trickle down economics all over again. I am determined that we are going to get the economy really moving again. Building on the progress we have made over the last eight years but never going back to what got us in trouble in the first place. We have to do a much better job at keeping our jobs. And we have to do a much better job at giving companies incentives to build new companies or to expand because they are not doing it. We have the worst revival of an economy since the great depression. Believe me, we are in a bubble right now. The only thing that looks good is the stock market. If you raise Interest Rates even a little bit that is going to come crashing down. We are in a big fat ugly bubble. Joining us now with his reaction and what it means for the markets is dan clifton from strategicest research markets. Welcome. Thank you for having me today. You put a slightly different spin which is if hillary does not get a big bounce in the polls it could mean a Trump Victory. If you look at the consensus today is that trump wasnt ready to play in the major leagues, hillary will eventually win. There is some truth to that. Clearly she should be getting a bounce. She did we, put her Health Issues away. If she doesnt come out ahead here then it will be a sign that her candidacy has larger troubles of appealing to the american public. Trump did very well in the polling on economics even though he did very bed in overall debate presentation. That gives him a place to start from for those next debates. We are 40 days away. They ended up to lose. A lot of time left. Trump crushing clinton on the economy. Is that your view . That was a poll put out yesterday. Based on what they were it is clear they have very different views on how to jump start this economy. They have run it along pretty much party lines here. If you look at the first 20 minutes of the debate i think they both did very good. He did very well on the economics. As you got deeper into the debate he kept slipping and slipping. He will need more material and will need to explain his tax cuts better because she came very prepared to counter anything he said on economic plan. One thing that looks clear. It seems like no matter what happens with the polls it will impact the market. We only have to look at the trading activity last night from the moment the debate began. It is not that the markets are getting it right. We saw what happened with the brexit vote. If you woke up and say i thought hillary won, let me buy the peso you are late to the game. So is it going to be similar to this kind of idea going into the british vote to leave the eu which is markets make it look like it is a sure thing but we shouldnt take that as evidence that that will be the case. If the market took completely serious that hillary was going to win, infrastructure stocks would be best performers. That is what is tied to a hillary win. You see weakness in energy. You see weakness in bio tech. That is more of the fundamentals that are happening. The market has learned not to jump the gun too early. The s p and hillarys probability of winning have been very correlated. Hillarys probability had been dropping and the s p did not drop with that. It is almost like the s p knew she was going to go back to where she was and that the health scare was somewhat temporary. The market has gotten much more sophisticated in this. The s p 500 has predicted 19 of the past 22 president ial elections. If stocks are higher in the three month period before the election the incumbent party which is the democrats win. If stocks are lowered the Opposition Party wins. That is the market adjusting to the uncertainty of a new administration. I think that would be a good guide to watch. It is a squeaker. Here is another indicator i found interesting. Google before the debate ran measures the number of google searches for each candidate in each state. Here we have before the debate donald trump is in red. Hillary in blue and you can tell donald trump had the higher number of google searches. This is after the debate. Every single state was looking for hillary. We have never seen this because donald trump is such an interesting person to search on. That is what happens. There is at lot of voters who were watching hillary and donald for the first time. She took advantage of the opportunity. He needs to claw his way back now. Just also want to under score your point about support for the incumbent with another data point related to Consumer Confidence numbers which is when the Consumer Sentiment gauge is slightly different has been above 80 that has always been a sign for the incumbent. Typically low 75 the incumbent has lost. The reading for sentiment for august was 89. The reading for Consumer Confidence from the Conference Board was way better than expected. Gasoline prices are best predictor of the outcome. This is the largest drop ever before a president ial election. If hillary didnt have it it would be easy to replace the party. It is helping her here at the end of the stretch and i think it will be a very close election. We are a 50 50 nation. Yes, we are. Thank you for having me on. Joining us today. Lets get to our Closing Bell Exchange with the dow up 130 points joining us david kelly from jp morgan funds. Ste and Rick Santelli joins us from chicago. What is this rally about today . You know, the standard and poorz 500 level is significant. We have seen staunch support there coming into today. You see how quickly it was gained. It so we are hitting the level here is 21 at the same time you have some of these waves from what is happening with Deutsche Bank and germany if you said why is the yield low again would you argue is go back to one would expect. Even though the yield is lower the differential or the spread between our yields and yields were spending. And that tells me there is inurgea to the dynamics. On a much bigger scale. What the ecb is doing, what mario drawima i cant do this on my own, we are running out of run way here. The notion that these negative rates are going to help Deutsche Bank or help any of the European Banks is very critical and im sure it was a driver to push yields within three basis points of their lowest closing rate ever. We should have been lower. We really want to Pay Attention here because if the bank of japan stays in reverse on policy the ecb stays in reverse and the fed gets enough courage to normalize which it needs to do. It has nothing to do with data and they put it in drive thats exactly the type of thing or clue you look for in terms of difference widening out. I think that is the main issue you want to pay close attention to. What about the Consumer Sentiment numbers especially in the context of our economy that just continues to muddle along . Does it have a lot to do with gasoline prices . That is part of it. Our research has shown gas prices are important and perceptions of the job market. Thats the best number we have seen since august of 2007. So people are really getting a sense. It will also help confidence. Economic numbers are pretty good in supporting this market. Its kind of interesting because at the same time dan clifton was telling us Donald Trumps remarks about the economy resonated most of people listening last night. How would you reconcile all of that . In other words, a sense that people see prospects as Getting Better even though rhetoric is about how things have gotten much worse and need to be changed. I think there is a lack of perception about the economy. If you go back to 1993, 60 of americans watched the evening news down to about 25 . Im not sure the average american knows how the American Economy is doing. So if you have politicians saying it is really bad i know there is a gap between rich and poor they hear bad things. That resonates with them. I know you we all read and his commence this morning were interesting about the impacts. What is going to impact the market down the road. He said odds are higher whoever the next president is they will preside over recession, bare market and rising debts. At least around 2017 Central Banks will dominate as they have for the past eight years. Do you agree . I believe there will be a recession going forward. When you look at any of these president ial candidates and if you are like me and you dont like either one of them and you really dont want to route for either of them it is fiscal spending that they have in common. You have things that will prosper when the president of the United States wants to borrow and spend. Thats where you have to look. The overall economy i think is actually not doing quite that well. I think the average american is well aware that its not doing that well. When you are scraping the run way on gdp, when the housing numbers are poor, when the wage numbers arent as good as they are portrayed to do and so many people are working part time i think the average american is having a rough time. What about growth, sarge . Forget everything else. Lets say he got elected and got rid of obama care and repealed much of doddfrank. You dont think we would see big growth . I would be shocked if we dont see at least a half a percent more. Growth needs to be factored into the outlook in terms of what people are trading based on which candidate wins, as well . I think donald trump will provide more growth than Hillary Clinton. The truth is if you watched them last night i dislike her. Im a military guy. I cant like her. Donald trump didnt come prepared to play last night. How do you play when you are not ready . It kind of ticks me off. Im going to vote for colonel jack guilfoyle. Appreciate your thoughts on todays market action. 45 minutes to go and a rally. The dow up 115. The s p adding 12. Transports up 71. Small caps up almost five points. Nasdaq up to 5,300. Another day, another European Bank under pressure. The latest Warning Signals raised by the ceo of credit suesse. Wells fargo board considering executive clawbacks. We will have the latest fallout from the banks fake account scandal coming up. You are watching cnbc. Do you worry if youve saved enough for retirement . Are you or your spouse 62 or older . A governmentbacked reverse mortgage enables you to turn the equity youve built into the retirement you deserve. With over 20 years in the mortgage business, lendingtree allows you to compare free reverse mortgage offers with no obligation. Just go to lendingtree. Com or call now to get started. Live in your home and get the steady income you need. Enjoy your family. Your home. Your life. Lendingtree. When banks compete, you win. The dow up 122 and amazon continues hitting another record high notching jp morgan raised price target from 925 now having overweight rating on siting flex eblt and pushing first Party Versus Third party. As it happens we will talk about whether it is too late to put amazon in your portfolio coming up here on closing bell. Credit suisse could be heading for rough patch. What is happening . Credit suisse ceo today said softness in q 2 has continued into q 3 for much of his business and he expects to shed some 1,200 jobs by the end of the year which comes on top of job cuts made. It highlights ongoing head winds for European Banks in what was a roller coaster session today driven by Deutsche Bank. Shares ended the day flat. It rallied as comments from the doj official suggested that banks who are open with selfdisclosure with the doj can see their fines lowered. Investors took it as a sign that their final find will be somewhere below that initially floated 14 billion figure. The share price recovery today encouraging but still down sharp and around 50 this year. Worth noting the move which had risen above 0 a week ago is back to lowest levels since july due to major risk off sentiment sweeping. How similar is the situation Credit Suisse because it is a restructuring. Deutsche bank seems to have fundamental is it valuation issues related to loans on the books . Are there common linkages . Common in facing tough situation. Different in that Credit Suisse has bigger exposure suffering from a few withdrawals but not fundamental profitability questions, also has more exposure to asia. It was pretty upbeat. There are similarities but really in the eye of the storm when you talk about negative Interest Rates, declining profitability, declining market share. The share price rally is interesting. It does suggest that a lot of the move has been based on expectations on how big the fine is going to be. If that is it it is not as bad as february. Let me pivot you to wells fargo. We were waiting for something from their board apparently before john stumpf testifies . The reports emerged that the board were expecting clawbacks. As you said of the hearing in front of the House Finance committee on thursday. Cnbc spoke to the company and declined to comment. Given the huge focus on clawbacks or lack of them thus far. One of the major mistakes by wells at the Senate Hearing was that stumpf would not or could not offer on claw backs. The heavy decision will be made by board of directors which overs overseas compensation. Stumpf not on that. Issue remains will we see clawbacks ahead of thursday. It will be an easy win for them to offer. His tenure at the company whether or not reports that his compensation if he were to leave was about 123 million. Huge amount of it. Will we see decision ahead of the board on thursday. Some reports suggested we would. Could she decide to say im giving up a chunk of this myself regardless of what the board says. The desire out there and politicians to see some clawback. Good to see you. You got anything else . Lets talk about latest headlines and gossip columns. The dow up 116 points. Nike is gearing up to report earnings. We will deliver the companys numbers and break them down with analysts. Up next from the run way to the halls of big business, supermodel tyra banks tells us about her latest Business Ventures coming up. On the hit show americas next top model tyra banks mentored aspiring young models helping them find their light and smies. Now she is working with young entrepreneurs gearing up to be a guest lecturer at Stanford Business school to teach others about their personal brand. I just tried to do it but i think it just came off. Show me again. Well done. Tyra banks joins us to talk about her keys to success from the Entrepreneurial Center in San Francisco. I assume you are smiezing right now. Hello there. This is a smeyes. Mouth needs to be novocain. Before we get into the entrepreneurial and wondering did you watch the debate. What do you make of the election . I was at a business dinner during the debates i was staring at the tv and we had to pull ourselves away. When i got home at 11 00 at night i kissed my baby. He was in his crib and i watched the whole thing on my laptop. Amazing. It was very interesting. Youre going to be on the next Celebrity Apprentice so you have some connection to donald trump. What did you think about the whole thing about the Miss Universe contestant that they brought up last night and his language about her . That was crazy. That was, come on now. You know that was crazy. You just want me to say it so you can play it later as a sound byte like tyra said donald is crazy. Im anxious to talk about your mba program. Are you a tough grader . I dont know about tough grading but im definitely tough in the classroom. If i see you not paying attention, if i see you doing something on the internet i am going to call your name and ask you to answer that question. So you better be paying attention in my class. I remembered a couple of years ago you told the wall street journal some of your fashion predictions. I wanted to share a few of them and see if you had updated reflections. One of them you said Plastic Surgery is going to become as easy and quick as going to the drugstore for tylenol. You said people can pop a pill and grow hair in 24 hours. We know about the whole thing where you can pick your babys eyes where you can pick fast food menu items. You said skin color and features will morph so they lean towards rihanna or beyonce or your look. Now that everything has kind of become such a similar compiled look in the industry that being unique is going to increasingly be what people are after. Do you see that playing out now . I am reminded of people going makeup free. What is happening here with beauty . So one thing is that wall str