Hey, you, yeah, you, right there, put the phone down. Power lunch starts right now the dow lower, you can see it off about 1. 60 ge falling again the transports as a group seeing some selling too that group don as well is this a sign of concern goingforward . Viva mexico, the dollar dropping against the peso the biggest stock, now up 18 since that election. Two big consumer stocks on the move state side, chipotle, dropping to its lowest level in five years, and underarmor down again, the c class, that stock trading at its lowest levels since being spun out heres what else is happening at this hour new home sales jumping to their highest level. Soaring almost 19 from a year ago. Durable good orders also rising 2 last month. That was well above expectations, Royal Caribbean says its cruise ships are returning to two ports tyler . Thanks very much. Tyler math isen here, for our net net summit new Way Companies are leveraging rapid change, using technology to fuel growth joining me today, later on this hour, mark kelton. The flew way to compute the value of companies, david martin, the founder and ceo of mcam international explains. We begin with the market, stocks sitting around session lows. Off about 3 4 of a . Bob pisani here. Early on it had to do with a rise in Interest Rates bolstered by all of this good Economic Data. You heard them, durable goods. Take a look at high yield etf, this is all above the 10 year yields theres been reports that taylor may be a favorite at the fed chair, a lot of people are debating what that will mean for the markets. Theres a technical factor, look at the s p 500, weve been relentlessly up for ages now, this morning, we broke below yesterdays lows that started selling around 10 45. About 401 k s back in there, theres some reports out that the 401 k program may be on the table. Not terribly helpful for the markets. Another leg down there you look at the companys reported earnings, you say oh, my heavens, they must have been terrible what was going on with their margins. Thats a big momentum name freeport, hess Norfolk Southern boeing. They were fine, inline or better numbers there. Its been the overall action of the market, 5,000 points in the Dow Jones Industrial average in the last 18 months 1,000 points that creates pressure on the markets. People want to sell when you get a little bit of down in the market you can see that in the banks today guys, even with the ten year yields moving up. Do they always cheer when youre on like this . Oh, yeah. All the banks down today the banks hit all new highs, the momentums been there. When you get a slow day like this, the momentum guys make some profit. Well see you next hour, if not sooner. Thanks, guys, now to washington and kevin brady repeating that changes to 401 k s are still on the table the president has said there will be no changes its congress that writes the laws, not the president. Its kevin brady who chairs the committee that writes tax laws who should we believe . It is called preserving option ailty brady has a tough job of trying to respond to the latest trump tweet, but also, making these numbers actually work as republicans try to hammer out the details of this tax bill one of the proposals was reducing the amount you could contribute to your 401 k without paying those taxes they want to lower it to 2400, the current total is 18,000 i spoke to brady after this tweet came out, he was leaving the door open to at least some sort of change. Bottom line is, we want americans to save more and save earlier in their life. And earlier in their incomes today they dont weve got to find a better way at the end of the day, were taking a fresh look at the savings plans, the savings vehicles they have got just a week to try to hammer out these details before the plan comes out on november 1st, republicans want to try to get this passed out of the house by thanksgiving, the time line is aggressive. Any idea where they get the 2400 level to go to 18,000 per year how do they come up with 2400 number thats how much the average worker actually does contribute to their 401 k , people usually put in less than that, they may not have 18,000 to spare. Perhaps thats where that number came from, if the whole idea is to incentivize people to save for retirement, you may want to have a higher number to encourage them to put more aside. In the meantime, reaction from the Trump Administration on the latest 401 k development. Well start with the president s tweet that you heard elan talking about it seemed pretty definitive, there will be no change to your 401 k , this has always been a great and popular middle class tax break that works and it stays. I talked to a Senior Administration official earlier today, who said there may be a little more wiggle room in there than you heard in the president. The president s preference is that the 401 k proposal will go away the they cant guarantee it will fall by the wayside. The aguessive agenda you heard. The house could vote in a long weekend session before thanksgiving break this is the best case scenario, and final passage could come december 23rd. Thats the absolute best case the white house is willing to predict right now. You heard the president suggest it might happen this year or next year, whether or not they can get it done this year is all going to come down to that last day, december 23rd just ahead of the christmas break. Back over to you guys. Thank you one stock dragging the dow lower today, fill lebeau has all the details. Given the run that boeing shares have had in the last year, its not surprising eventually they would pull down a little bit, theres nothing in todays Earnings Call that would case they should move lower. They did beat the street by six cents. Look at the commercial side of the business Strong Demand right now, theyre talking about increasing 737 production beyond what they forecasted theyre still pressing the bomba bombardia complaint. On the defense side, the boeing Tanker Program took another charge 329 million. The first ones are still scheduled to be delivered next year the increase in guidance for how much it plans to earn this year, up just a dime, primarily due to a lower tax rate the Company Expects to have more operating cashflow increasing that guidance by a half billion. I have to ask you this question about drones here President Trump considering new rules for drones whats the late sneft. Theyre going to have five partners, and what theyre looking to do is analyzing whether or not they should move forward to have drones, flights where operators no longer would have line of sight for a particular drone whats really interesting, i want to hear what airlines have to say about this. One thing that really concerns them, drones near airports im sure thats at the heart of whats going to be analyzes. Thank you two big Defense Companies reporting today, they are going in opposite directions, Northrup Grumman up, General Dynamics down, Morgan Brennen here to tell us why. I heard from phil about boeing General Dynamics, the other two that are in focus today, were going to start with General Dynamics, the maker of gulfstream jets and navy ships, revenue missed on lower expected army sales overall margins grew shares are down more than 2 right now. On the flip side, Northrup Grumman trading on record highs today, also up to 2017 profit outlook, this is the third such hike this year Aircraft Sales are what powered that excuse me, morgan we have tape play back of the president speaking moments ago, lets listen to it the dossier whats your reaction to democrats well, i thinks its very sad what theyve done with this fake dossier, it was made up, and i understand they paid a tremendous amount of money and Hillary Clinton always denied it, the democrats always denied it, and now only because its going to come out in a court case, they said yes, they did it, they admitted it, and theyre embarrassed by it, i think its a disgrace. Its a very sad commentary on politics in this country mr. President i dont think so. We have great unity in the Republican Party bob corker no, thats okay they have to do their thing many you look at what happened yesterday at the meeting, we had virtually every senator including john mccain, we had a great conversation yesterday, john mccain and myself, about the military i think we had a i called it a lovefest maybe it was a lovefest, standing ovation there is great unity, if you look at the democrats with Bernie Sanders and Hillary Clinton, thats a mess great unity do you do you worry that this country is in the gutter right now, do you agree with that, do you bear any responsibility well, i think its sad. But i think to a large extent the media causes a lot of it fake stories are being reported, a lot of bad things are being reported that arent true. To a certain extent maybe i can blame the media, politics is a rough business, no question about it, i will say this, i think the Republican Party has a pretty good unity, when i look at that room yesterday at lunch, and you know, and you reported on it very well, but i mean, you gave it a very good report, the fact is, there was tremendous unity in that room and were really unified were really unified on what we want to do, we want tax cuts for the middle class, we want tax cuts for businesses to produce jobs, theres great unity. Do you worry about should step down in the senate look, look. He was against me from before he ever knew me he wrote a book about me before i ever met him, before i heard his name his poll numbers in arizona are so low, that he couldnt western, and i dont blame him for leaving, i think he did the right thing for himself. Long before he ever knew me, during the campaign, he came out with his horrible book, i said, who is this guy. The first time i saw him on television i had not really been nobody knew me in terms of politics the first time i saw him on television i said i assume hes a democrat is he a democrat they said, hes a republican i said, thats impossible. His poll numbers have been terrible hes been terrible for the state of arizona he would have never won in the primary, hes way down in the primary, he did the smart thing for himself, this way he can get out somewhat gracefully. Mr. , do you ever apologize hes saying that, because he has nothing else to say. Do you i do think this i wish him well, i really believe hes going to do the right thing for the country. Hes going to vote for tax cuts, we desperately need tax cuts to put our people back to work. We need tax cuts also to be able to compete with other countries. Would you ever apologize i hope bob, and i really believe that bob corker is going to do the right thing also go ahead. Do you feel like i cant hear you. Say it again senator [ inaudible senator flake did vote with me, i understand it was about 91 or even more than that from that standpoint, no, i think ill be boosted in arizona, hes very unpopular, i think the fact that he did it the way he did it, i mean, im very high in arizona, i like the people, they like me, they like security at the border, all of the things, but i think im probably helped greatly in arizona by what happened with senator mr. President , would you are you concerned that flake and corker could block your agenda tax reform i dont think they do that . I really know they want tax cuts, they know we need it, we need it for the country, we need it for the people, the middle class, we need it for jobs i dont think they do that, i really dont i know them well enough, i dont know flake very well, i know bob corker, i think they would do it, i think they feel they have to do it for the country do you have any do you have any democrats who are yes votes yet. I think were going to get some democrat votes. I havent started the process, but i believe that there are certain democrats, if they dont vote for these massive tax cuts for business, for jobs and the middle class, they will lose their race in 18. Could you be more civil well, i think the press makes me more uncivil than i am. People dont understand, i went to an ivy league college, i was a nice student i did very well. Im a very intelligent person, the fact is, i think i really believe i think the press creates a different image of donald trump than the real isnt it your would you ever apologize when is it okay for you to pull your punches . I think its always okay when somebody says something about you thats false i think its always okay to counter punch or to fight back john [ inaudible i wanted to end that quickly, 401 k s to me are very important, its one of the great benefits to the middle class, i didnt want that to go too far, thats why i ended it very quickly. Well, maybe it is and maybe well use it as negotiating, but i trust me, thats one of the great things, you know, there are certain elements of deals you dont want to negotiate with, 401 k s, and kevin knows it, and i think kevin grady is fanning taftic, he knows how important 401 k s are. Last week, you iranian sales to russia was one of the stories of the decade. Theyre now working we never heard you comment on it. I think the uranium sale to russia and the way it was done, so under handed, with tremendous amounts of money being passed, i think thats watergate modern age. [ inaudible what do you want to know about the about what went wrong . I cant what do you want to know about the. Were going to look at if, we are decimating isis in the middle east. Whats happening is, theyll go do parts of africa, theyll go to other places. When they get there, we meet them its a dangerous business. I have to say did you authorize the mission . No, i didnt. Not specifically but i have generals that are great generals, these are great fighters, these are warriors i gave them authority to do whats right so that we win. Thats the authority they have i want to win. And were going to win, were beating isis very badly. You look at whats happened in the middle east we have done more in eight months than the Previous Administration has done in many years, what happens is, you decimate them. We have decimated isis in the middle east. They go to africa and they go to places, when they go there, we meet them there. Thats what goes on, its a tough business, a tough war, but we are winning it, and you know what, were going to continue winning it with that being said, my generals and my military, they have Decision Making ability as far as the incident that were talking about ive been seeing it just like youve been seeing it, ive been getting reports, they have to meet the enemy. And they meet them tough, thats what happened. Really upset by your phone call i was extremely nice to her she sounds like a lovely lady, ive never seen her, never met her. She sounds like a lovely lady, but i was extremely nice to her, extremely courteous, as i was to everyone else. Its interesting, you folks have called many people that i spoke to, everybody has said unbelievable good things about me, but you never report that. We reported that. Did you report it did you report it . Thank you. What about your plea have you narrowed down the i was really nice to her. I respect her, i respect her family, i certainly respect la david, who i by the way, called la david right from the beginning, just so you understand, they put a chart in front, la david, it says la david johnson, right from the beginning, theres no hesitation, one of the great memories of all time, there was no hesitation, i think shes a fantastic woman, i was extremely nice to her, extremely respectf respectful. I would say, basically, we talked condolence, its all about condolence, its about warmth, in many cases you listen, because in so many cases, one of the families, they were saying, yes, he was a great football star, and honestly, they poured their heart out, its the hardest call, they poush their heart out. I am always. Look, you people have called many people that i have spoken to, and every one of them have said i couldnt have been nicer, now its a rough time for 2450ez i mean, how tough is it theres nothing tougher. I have such respect for those families, nobody has more respect than i do. Nobody mr. President , has any of your we have to get something for daca, we are looking at daca, well see what happens id love to do a daca deal, but we have to get something very substantial for it, including a wall, the security, Strong Border we have to stop drugs from pouring into our nation. Gun control the tax plan is going to be incredible for this country. Its going to bring back jobs, cut taxes tremendously were going to bring back 4 trillion, i think at least, from overseas, that moneys going to be put back to work in our country instead of other countries. The tax cut is growing to be massive, its going to Keep Companies from leaving our country. Have any of your family members or top advisers been interviewed by the special counsel . Not that i know of. Have you been contacted not that i know of. And i have to say, this was the democrats coming up with an excuse for losing an election. Its an election thats very hard for the democrats to lose, the Electoral College is very hard for a democrat to lose. They lose it, they lost it very badly and very easily, you look at the votes it was 306 to 223 or something, they lost it by a lot. They didnt know what to say, so they made up the whole russia hoax now its turning out that the hoax is turned around, and you look at whats happened with russia and the uranium deal, and the fake dossier, so thats all turned around. Mueller no, not at all. We have a very Good Relationship if you take a look at whats happened with Hillary Clinton and Bernie Sanders and the hatred and the division and the animosity, ill tell you what, honestly, the republicans are very well united can you guarantee peoples 401 were going to have a big meeting on opiods tomorrow were going to be doing a very important meeting