A few stock standouts. Haines brand higher by more than 9 . Verasign up by 5 . Heres what else is happening at this hour. A california woman has been awarded more than 70 million in a lawsuit alleging that Johns Johnson johnson baby powder caused her cancer. Bmw will recall 136,000 vehicles over a fuel pump problem. And a recordbreaking heat continues from the planes through parts of the southwest, some areas will see temperatures up to 25 degrees warmer than normal. Meantime, we kick it off, however, with breaking news in the race for the white house. Lets get right to cnbcs eamon javers. Were getting new news here out of the fbi and relation to the investigation into secretary Hillary Clintons emails. This just breaking within the past couple of minutes here, the fbi director has sent a letter to capitol hill in regard to his own testimony about Hillary Clintons emails. I want to read you the key sentence here from the letter. He says, a letter from james comey to members of congress, in connection with an unrelated case, the fbi learned of the existence of emails that appear to be pertinent to the investigation. I am writing to inform you the Investigative Team briefed me on this yesterday, and i agree that the fbi should take appropriate investigative steps designed to allow investigators to review the emails to determine whether they contain classified information. So comey saying hes supplementing his previous testimony in which he said that the investigation into former secretary clintons personal email server was completed, now it appears the fbi is continuing to investigate new emails that they have obtained. It is not clear what those emails are. Republicans on capitol hill are saying they did not expect this development. They dont know where it comes from. They want to know a little bit more about what it is that fbi director comey is looking at here, congressman Jason Chaffetz, republican of utah, tweeting fbi director just informed me the fbi has learned of the existence of emails that appear to be pertinent to the investigation. Case reopened. Thats the tweet from Jason Chaffetz there. So he used the word he used the word reopen. Is that a correct way we think at this point or we dont know enough. Is this reopened . Is this new . And just with the timing, i would think some people would say, oh, email investigation, are they investigating something that as a result of the leaked welcome wikileaks email or finding the missing 33,000 emails. Those are all really good questions, michelle. I wish i had the answer for you. When you talk about the fbi reopening an investigation, that is a technical procedural step inside the fbi. Comey, as far as i can tell, just scanning this letter in the past 30 seconds, does not appear to use that language in this letter. Jason chaffetz uses the term reopen. What comey is saying here is that the fbi should take appropriate investigative steps designed to allow investigators to review the emails, determine whether they contain any classified information, as well as to assess their importance to our investigation. The fbi cannot yet assess whether or not this material may be significant. Comey going on here to say he cant say how long it will take to complete any additional work. Hes not saying reopen, quote unquote in this lettelett but it is clear that the fbi is investigating an additional cache of emails related to secretary Hillary Clinton. The use of the phrase classified email suggested it has to do back with the whole issue of the story. Dont move. Were goi ing to bring in rober costa of the Washington Post who joins us now. We were going to talk to you about the race in general. If you heard what eamon said, what do you think . Theyre trying to expand the map. This is a curveball in the political race that could change some voters minds, especially in the swing suburbs. Really . You think it changes voters minds . I mean, i said this on the air yesterday, im going to be repetitive, but just like the donald trump videotape, where we learn kind of what we already knew, hes vulgar, are you surprised, all of the emails that have come out, yet another investigation, the clintons are conflicted. We kind of already knew that, right . Thats right. A lot of those things are baked into the polling, baked into voters perceptions. But at this late stage in a president ial race, everything is heightened. And it is unpredictable. Im hesitant to say as a reporter which way this will go. But with the fbi weighing in in late october it will be a factor for some voters. It does two things. Depends on what is in these emails, what we find out about them, where they came from, and whether indeed there was classified information and if so of what sort of magnitude is in them. It could be very, very damaging. Or it could be more of the same. Whatever. If mrs. Clinton ultimately does prevail, i think whatever is going on here sets up a first term that is going to be a really raucous one, filled with more investigations, maybe impeachment proceedings, you got to believe somebody is going to want to do that, right . It is articulated and signaled by House OversightCommittee ChairmanJason Chaffetz, republican of utah, hes talking about ramping up gop investigations in the new year, should secretary clinton win. And with the prospect of divided government on the horizon, a very little chance of things actually getting done, in terms of legislating, then investigations move to the fore as an important part of the republican attack strategy, about the republican strategy in general for next year. It just comes back to i think people who remember the clinton years, the 90s, it was a time when everything seemed to be under investigation, whether it was whitewater, whether it was monicagate. Travelgate. The travel office. Whitewater. Ken starr. Ken starr. The relationship with the stevens brokerage. It takes people back to a time that they would sooner forget. Tyler, if i can jump in on that one. I covered the clinton impeachment in the 90s here in washington. At one point, bill clinton staffers and the white house said if they stop taking notes in meetings because all of this was under investigation, they couldnt create a yellow legal pad with handwritten notes on it because it would be subpoenaed as part of the investigation. Made it very difficult for them to do any job they wanted to do. Now you add the 21st century version of that on top of it, which is wikileaks and the access to all of their emails and personal documents, this was already going to be a difficult year for any potential Hillary Clinton presidency. You add this new fbi wrinkle on top of that, and it gets a lot more complicated potentially as well. I want to interject here looking at the markets reaction, the markets are telling us that perhaps this could actually impact Hillary Clintons lead here. You do have the Dow Jones Industrial average still higher. But this is a turn around of about 70 some odd points on the session along with the s p 500 now in the negative. What are the biotechs doing. I was punching that up. Biotechs down by 1. 3 . It had been a terrible day for biotechs to begin with. Not too much impact. Theyre going back towards session highs on this. Interesting. What it does is it adds an element of uncertainty. When you look at this letter, it is not at all clear what it is that the fbi has its hands on here. Comey says in the letletter, in connection with an unrelated case, what is the unrelated case what kinds of emails is it that they have gotten . Is it emails from somebody else on the receiving end perhaps of Hillary Clintons emails, is there another investigation going on that we dont know about that hasnt surfaced publicly. All of those are questions we try to get some answers from the fbi on in the coming minutes, but you can imagine the fbi will be pretty mum on this other than what the director put out now for public consumption. Thank you very much. Bob costa, thank you as well. Thank you. We have a news alert from the energy patch. Weekly rig counts are out. Lets going to sue herera with that. Thank you very much, melissa. Rig count shows the first cut in u. S. Oil rig since june. Drillers took two rigs out of service, putting the current total at 441. But that still leaves the total rig count 137 below year ago levels. Oil prices did not react all that much, following the news. At least so far as you can see now, but we are seeing a little bit of a downdraft. Back to you, melissa. Thanks so much, sue. We mentioned the biotech index leading back to session highs on the latest news of the fbi investigation into clinton emails. But we did see amgen dragging the index down, worst day since october 2000 despite an earnings be beat. What is driving this stock lower . Lets bring in michael yee, biotech analyst at rbc capital markets. Great to have you with us. Good to speak with you. I want to talk to you about the latest piece of news we have about Hillary Clintons emails. Were seeing some reaction biotech stocks. From a biotech investor standpoint, it would be best if her odds go down, if maybe shes not elected president of the United States. I actually dont necessarily think so. I think that in general people have been assuming that if she becomes president that in general it is probably still a lot more rhetoric and since people have been scared and been priced in a lot of bad situations for the last year, i think that people just want to get past the election regardless of who is elected. We all want to get past the election. Do you despite the idea as the polls have risen, the biotech stocks have gone down. There is a relationship there. The way the stock is, regardless of whether or not you think it is justified. Sure. I think that in general we could argue that donald trump who is called for medicare price negotiation as well would be a wild card and present uncertainty for biotechs as well. In general, im telling you, people have assumed shes going to win. People priced a lot of that fear in. What is priced into stocks already is that if she wins in general, that it is just rhetoric and stocks can move higher after that. Let me ask you about amgen. What stood out was the impact of biosimilar competition. Maybe this really shows what is at risk for the sector, more biosimilars get approved. A 36 drop in the sales of its cancer drug nupagen because of a biosimilar on the market from novartis. They have a lot to come. Shouldnt any company with a product that is going to be threatened by biosimilars look at what happened to amgen and think uhoh. I dont necessarily think so. I think that in general people are quite nervous on comments that amgen made on the earnings call, specifically on enbril, the biggest drug and they expect to have little net price benefit next year. So people are worried that pricing pressure in general in the market for these drugs is coming back to haunt some of these companies. And so the price lever is not going to be as strong next year. Thats freaking people out and people are worried about that. You buy this 11 drop in amgen. Im a buyer on the 11 drop. It is overdone. I think theyll come back and that stock will recover. Got it. Thanks a lot, michael. Thank you. Michael yee, rbc. To a break in a second. In the wake of the news out of washington, related to Hillary Clintons emails and the fbi, take a look at the move in the mexican peso. The u. S. Dollar is in 11day high versus the mexican peso. And you can see the intraday chart reacting immediately. The weaker her chances become, or lets state it the other way, the stronger donald trump rose in the polls, the weaker the mexican peso would get. This would be perhaps the most pure play market out there if you wanted to play the u. S. Election. You look at the intraday and etf that tracks the bond market, we see a bid for bonds as we saw the headlines cross. This is something were watching, a Market Impact on the political headlines today. Coming up next, more on the big move lower in the market following news the fbi is probing clintons emails. The dow is now negative. Were headed to the floor of the New York Stock Exchange next. When a moment turns romantic, why pause to take a pill . Or stop to find a bathroom . Cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. 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Bob pisani on the floor of the New York Stock Exchange. Across asset classes, and bonds, as well as the dollar. If you look at the s p, we were about 2140 just prior to 1 00. We dropped about 14 points or so down to 2126 or so. Rebounded a little bit four or five points here. Close to break even for the day. You were discussing the impact of Hillary Clinton and issues around pharmaceutical drugs and biotech. If you look at pjp, not a big reaction overall here, but you can see off of the lows, since that announcement came, this has been a very, very tough group overall. If you look at what is going on this month, there you see, thats down about 6 , 7 on the month. Thats on concerns of increased regulatory scrutiny should Hillary Clinton become president. So there is one sector you can very clearly see the impact on the stock market. And about a potential Hillary Clinton victory. But youre right, right across the board, look at technology stocks, we saw a general drop right across the board. S p 500 technology index. Notable drop there. Same thing with industrials. Fairly broad to sort of this is what you call lightening up here, you take down exposure across the board here, and, again, still remember, were positive for the day on some of the big sectors, but clearly an impact. Back to you. Robert, thank you very much. Lets bring in cnbc contributor ron insana and john canali. John, ron, bonbon, how are you . Great. What is all this dealmaking say to you about the state or the spirit of investors . If you talk about mergers and acquisitions, i think a lot of this is anticipatory. This moments headlines notwithstanding. Some of this may try to get in before there is a noted change in the composition of government. If you want to try to sneak something through, this would be the time to launch the process if the democrats were to run the table and get the white house the senate and the house, there could be a difficult more difficult m a environment down the road. The Market Reaction today shows the opposite. Concerns if you will that these latest revelations about new emails could turn the campaign into rediscounting. Look at the charts since 1 00 when we came on and broke the news or the news broke. It has gone down. Is this the flurry of deals from at t to the qualcomm one yesterday to others, does it speak to you what it speaks to ron about or is it trying to get in while financing is still so cheap . I think it is a little bit of both. I think there is there is a third way here, which would be that Corporate Managements are seeing beyond the election, we have all been hyperfocused on november 8th, but Corporate Management has to look into next quarter and next year and next decade and perhaps some of the mergers are taken at long view. A couple of the mergers that we have seen have been in sectors that sort of have been artificially beaten up. Health care is an example. The oil sector is another example where theyre making acquisitions on assets that are distressed or depressed. There is also a change coming at the fed as well. Rates will start to go up and that would make deals Going Forward more expensive. People are trying to buy growth. Decelerating in telecom, looking for as we already know, other means. To transform companies and certainly qualcomm doing the same thing there. And switching qualcomm when it started was the cdma provider of chips for hand sets back when we called phones hand sets and that business is slowing, but automotive is speeding up. You have an interesting little factlet that talks about today being a very propitious day as history says it leads to a very nice fiveday run for the market. Explain. It does. I cant take full credit for this. This is from my colleague ryan dedric. But ryan tells us that the next five days are the strongest five days of the year. So it is up 1. 7 on average, why today, actually, is the best day of the year, historically. October 28th. Thats probably more random than anything else, but you have to remember, october, end of october, is the end of selling and going away. End of october leads to the beginning of november. Yes. It used to be the end of the mutual fund year as well. There was and santa claus rally as well. Speaking of cycles. Thats a little early. Speaking of cycles, john, you see the reaction in the markets today and this news related to possibly this new fbi reopening, however they are phrasing it at this point, related to Hillary Clintons emails and