 Thank you Shepherd very much. It is historic a fox news alert for you read it and leave no bull There has been no bull like this ever the longest bull market in history is on and we are off and for the next hour We are all over this story. In fact, my friends. It is our only story and here's why 3,453 days This is officially the longest bull market in history Defying history a lot of folks are telling us it is going to keep making history. It's that big It's that important for our country for our world. What has happened at the corner of all and broad is something between stunning and numbing Today we look at how we got here and how long we can stay here and who helped get us here the policies the players The politics the presidents the world Your world and it starts now Welcome everybody glad to have you. I'm Neil Kovato and Fox on top of a raging bull few saw coming and fewer still lasting But it did more than 3,400 days ago What started in the midst of a meltdown has redefined the country many thought was permanently down out of money out of credit Well, and we were told out of hope but not But not hopeless today. We follow the green now. You notice. I did not say red or blue You notice I didn't say anything about conservatives or liberals Republicans or Democrats This is about you how you picked yourself up and dusted yourself off and refused to believe the American dream was dead It wasn't then it isn't now for the next hour We'll show you how it all happened and what happens now with Susan Lee on how we overcame a financial crisis to become a Financial powerhouse former New York Stock Exchange boss Dick Grasso on why so bullish on capitalism Uber bear Jim Stack on why so worried about capitalism Value investor stunner foster freeze on why he is still gung-ho on capitalism Then see any chairman Terry Duffy on all that glitters is not just stocks Former Nasdaq chairman Robert Greifeld on why this technology tear isn't like the last one Then a look back at the Giants who helped fuel this historic bull run and we chatted with them on this show Apple Steve Jobs Amazon's Jeff Bezos and Microsoft founder Bill Gates Lots to get to so let's get to it with Susan Lee outside the New York Stock Exchange where it all went down Hey Susan and he also a bullmark is defined as gains above 20% So we are in the longest stretch in history Not necessarily the strongest still a long road back to the depths of the global financial crisis Markets plunging banks collapsing investors panicking It was a great financial meltdown, but there wasn't anything great about it It hauled out companies as quickly as it cratered their stocks Millions lost their jobs millions more their life savings Record numbers saw the value of their homes plummet if they were even lucky enough to hold on to those homes at all It seemed anything of value kept losing it a turning Unrelenting bottoming out that hit its lows on March 9 2009 when the S&P 500 hit its prophetic low of 666 Few knew it at the time But that would be the worst it would get Barack Obama had been president for a little more than seven weeks But a massive financial rescue of everything from better banks and lenders The General Motors was on and then there was Federal Reserve Chairman Ben Bernanke spending Trillions of dollars buying back Treasury notes and bonds to literally force interest rates to near zero It worked and combined with innovations from tech giants including Apple, Amazon and years later a social media company Debuting on Wall Street called Facebook things started turning around Technology took the lead but other sectors soon followed void by record interest rates and what would soon become a productivity boom Then came Donald Trump who many say took that boom and put it on steroids Slashing regulations and cutting taxes and putting new life in a bull market that some analysts thought had run out of steam Turns out it hadn't and hasn't it's been 3453 days since that March 9 2009 bottom in the S&P Surpassing what had been the longest bull market in American history the so-called Clinton boom of the 1990s Technology led that boom and come to think of it technology has largely led this boom But here's the difference and why so many die-hard bulls are still so well bullish This may be the longest bull markets, but that 90s one remains the strongest stocks surge 417% back then they're up 322% now and some bulls see it we still have some room to run Now in just a few weeks it will mark one decade since Lehman's collapse on September 15th an event that resulted in big stock losses at the time But from the ashes of which has sparked the longest ever bull market run Neil back to you. This isn't thank you Great job Susan outside the New York Stock Exchange So does this bull have more room to run let's ask our market pros Art Hogan in Boston Melissa Armo in New York City Fox Business Networks Lauren Simonetti at the Nasdaq and Ted Weisberg got that here stock exchange will be joining us very shortly an institution in his own right Let's get the read from Art Hogan I mean we always talk about the duration of bull markets the strength of them because this is a record holder in terms of time It doesn't hold the record art in terms of the appreciable run-up We had under under the Clint one so so bulls tell me that we've got more to run. What do you think? No, I have to agree with that Neil and you and I were together for both of these bull markets and talked a lot about some of the underlying concepts here But I think the underlying concept to the links of this bull market has a lot to do with the pace of the economic recovery We've seen since the Great Recession. So we never got a v-shaped recovery. So this gradual recovery had a gradual Bull market that continued to get better And and continues to get better now So I think you look at the drivers and the drivers of the economy So if you think the economy is moving and I think we have a 4% GDP quarter coming up This quarter and and then probably you know average 3% for the year That's going to continue to drive earnings and earnings going to continue to drive stocks higher I think we've got a lot of runway in front of us and it doesn't look like a recession is anywhere near The near-term horizon You know Ted, you've lived through a couple of bull and bear markets A like I guess and some scary times and some good times. How does this stack up to others you see? Well, of course that when they're up it always feels better Neil But but this is clearly been a dramatic. It's clearly been a dramatic run But you know as far as I'm concerned, you know, if I go all the way back to 1974 when the Dow in November was playing 570 give or take a few points and we look where we are now at 25,700 as far as as far as I'm concerned We've been in the bull market for 44 years Wow, and that is one way of looking at it. You know Lawrence of anything one of the big Ties between this run-up and then the last run-up was technology And we learned at the internet boom of the Clinton era that it it was propelled by some companies that didn't Deserve to be part of the run the difference this time is you have a lot of companies with established earnings and numbers That justify it. What are you hearing? And a lot of technology companies are really consumer companies. I think of amazon I think of netflix their subscribers aren't going anywhere Yes, me anytime soon when you look at the boxes piling up on your doorstep, right? Absolutely not to get too technical But when you look at the sectors there are 11 s and p sectors the top performing sector during this bull run Is the consumer sector? So if you have tax cuts if you have deregulation if you have people getting jobs that are starting to pay more money And interest rates don't flare up too much Then you have a consumer that stays strong and that propels the bull market Melissa when you look at and talk to investors some of them feel what it should have could I I'm too late to get into this What do you tell them? Well, I don't think it's too late or too seen a lot of people are saying. Oh my god. We missed it Or it's too late to get into it. No, that's not true. I think it's a perfect time to go along the market right here Like you were saying earlier today ben stein on your program said Hey, there's a lot of women that are not invested in the market There's a lot of people that are not in this market 55 percent of the people are in this market That means 45 percent or not if I went out and talked to people right now on the street down there There's only 55 percent of them invested That means a lot more people combined in this market and that will lift the market higher All right, you know are those same people could be leering too, right? They could be holding off some of them are seared about that meltdown and have never forgotten it or what their parents experience What do you tell them? Well, I mean those people Oh, sorry, go ahead hard. I will get back to most good Yeah, neil, I think that's a great question and that's a question we face every year We've got a very reflexive muscle memory that doesn't have to go far that far back to see What a bear market looks like and then we went through one of the worst ones we've seen I think what you do have to tell investors though is you know And you and I talk about this all the time over the course of history having an allocation and rebalancing your Your portfolio is the best way for long-term investment So, you know to me I think that telling that investor that either you know has been on the sidelines and thinking We've gone too far too fast, which we heard you know for you know four out of five the first five years And and telling them hey listen if the economy is continuing to grow we're continuing to innovate We're continuing to increase productivity stocks are going to do better And I think that's what the runway looks like in front of us right now right now You know Ted we've been the economic and the market engine of the world We lead the way and that's been the wind at the president's back and getting tough on trade What have you do you worry though that it could blow up in our face? Well, it can always blow up neil. You know the you know, even a broken clock is going to be right twice a day And you know stocks are rich stocks are risky at any level But at the end of the day it's about it's about the fed Who's the always the 800 pound gorilla in the room and it's corporate earnings and at the moment interest rates are at Relatively historic lows you have a reasonably accommodative fed and we have very very good corporate earnings All of which create a very positive backdrop for stocks And I would think that the lines of least resistance for the market are up not down Not going straight up. You know, there'll be bumps along the way But go back to uh, november of 1974 and you can make a pretty compelling Case for owning stocks for the long term. Yeah, you really could you know Lauren a lot of people look at this ongoing trade give and take as as much as you do about nothing cooler heads will prevail We'll get something that will will calm everybody and the uncertainty will go away and stocks go still high. What do you think of that? Yeah, you know, we've seen barriers to this bull market. We've seen russia We've seen north korea and it seems like nothing can really take it down in a meaningful way Then you have the issue of trade and of course, this is the wild card right now But the federal reserve is concerned about how this potential trade war plays out What a trade war would do is cause prices to go up That is inflation and that is something that the federal reserve who's all that guaranteed us Our eight hike next month in september that would force them maybe to hike interest rates a little bit more aggressively And that could derail the bull market. Yes. Melissa. Is this a rich market to you? No, it's not rich at all And let me tell you why because the market based from february up until now for eight solid months So the market rested almost all of 2018 to me I'm looking at the market technically higher because we rested for eight months We're going to break out and I will say this in reference to your question earlier Most of the time the market has existed It is bullish and the reason is because there's a lot of 401k money and mutual funds in the market And they go long so the chances of the market ever going bearish is slim to none And if and when it happens it happens for a brief period and then it recovers Well, not all the time. I mean, you know their markets come last a lot to you I know but overall if you look at the life of the market if you're in for a little long haul Which people should be for the retirement. That's the point. All right guys I want to thank you all very very much fast movie news day. You put this one in perspective I do appreciate it. You know when this whole bull market began You know the median price of an existing home was around 170 grand 170 thousand dollars now closer to 270 thousand dollars So you would think well, that's great, right? No, no, no, legendary investor Jim Stack gets worried. He'll explain why after this