Yesterday you saw the nikkei ended that 16 session winning streak this morning stocks are closed higher the nikkei was up by 32 points to 21,739. Hang seng down by a third. The shanghai was up by a third of a percentage point. The early trading in europe, things are in the green across the board. Gains for germany, france and london up by a third stocks in italy and spain also higher treasury yields, check this out, yields at 2. 43 . Crude oil prices which have been above 50 comfortably for quite some time are now up about 8 cents. 52. 26. Here are the big stories were watching new comments out this morning from the saudi crown prince. He says the aramco ipo will take place next year and valuation of the company could top 2 trillion the crown prince said saudi arabia is working with all Oil Producers to rebalance the global oil market. On the wall street agenda, weekly jobless claims out at 8 30 a. M. Eastern, followed by september pending home sales at 10 00 a. M. In europe, we are going to get an ecb Rate Decision keep an eye out for that thats about 7 45 a. M. Eastern time the focus will be on the quantitative easing program, and how much they could cut that back that will be followed by News Conference from ecb president mario draghi that happens at 8 30 a. M. Eastern. Today is the busiest day of earnings season with 6 companies in the s p 500 reporting. The list includes comcast, the parent of cnbc, conocophillips, ford, time warner, u. P. S. , Southwest Airlines and twitter those are before the opening bell after the close alphabet, amazon, gilead, intel and microsoft. Couple of stocks to watch. This is a shift in what weve seen in havent montven recent s Buffalo Wild Wings getting a boost in the premarket the chain posting higher than expected earnings for the Third Quarter and raising the earnings forecast for the year. Up 20 ab inbev posting a mixed quarter. They had 14 Profit Growth profits rose in brazil for the first time in two years. Total volume fell on weakness in the u. S. Market. The company says shipping to wholesalers was hampered by hurricanes in florida and texas. Amgen reporting better than ex expected Third Quarter profit. Republicans in the house are posing a new bill that would increase scrutiny of chinese investments in the United States it would broaden the investments that require a review if i sifi. New requirements would require a review for real estates near m s bases. The bill is expected to be unveiled early next week. President trump is trying to drum up support for tax reform eamon javers has more on that. The president was in a very chatty mood yesterday as he was on his way to marine one to fly to dallas last night he stopped to talk to reporters, took a number of questions including on tax cuts. One of the things he was asked is whether or not the open Political Warfare thats erupted between the president and several prominent republican senators could damage the prospects for those tax cuts he said he thinks that the senators in question, particularly corker and flake, would vote for tax cuts even though theyve been at odds with the president. Heres what he said yesterday. I know they want tax cuts, they know we need it we need it for the country, for the people, we need it for the middle kaclass, we need it for jobs the president thinks corker and flake will ultimately be with him i talked to people privately at the white house who understand they could have a problem here because corker and flake in particular and senator john mccain have always prioritized concern about the deficit. If they see this tax cut bill as blowing a hole in the deficit, they could have a problem holding on to those republican votes in the senate. The president also talking yesterday about 401 k s, explaining his decision to shoot down a trial balloon from capitol hill on a proposal that would cap contributions to 401 k s that was pushed by kevin brady in the house of representatives. Heres what the president said about that one 401 k s to me are important theyre important because thats one of the great benefits to the middle class i didnt want that to go too far. Thats why i ended it quickly. Maybe it is. Maybe well use it as negotiating. Thats one of the great things you know, theres certain elements of deals you dont want to negotiate with. 401 k s kevin knows it. I think kevin brady is fantastic. He knows how important 401 k s are. The president there sending a signal he doesnt like the proposal to change the contribution system for 401 k s for most americans kevin brady on capitol hill has signaled he thinks that idea is still alive in congress as they debate this tax measure that is expected to be released next week the question is what the white house can do about that. I talked to white house officials yesterday about that privately who said they think this proposal is ultimately going to fall by the wayside they know the president doesnt prefer for it to be in there but ultimately they recognize the president cannot guarantee this proposal is not included because theyre not ones writing the bill a lot of moving parts on tax reform today thanks, eamon well talk to senator corker right now well talk to some former senators, former governors. Yes you guys got more political experience judd gregg, senator governor judd gregg, and senator governor evan bayh. Welcome to both of you ill start with you, judd, about tax reform something ive been hearing is there are certain things that will need to be done for this to pass muster in terms of all of the budgetary requirements there are sacred cows that will get killed once its announced people will be lined up. These guys, republican politicians are going to be needing to be ready for an onslaught. The question is whether they can withstand it you cant do it unless some things that are dearly held go away youre right. I was there in 86 on the ways and means committee, i participated in writing and was a primary author of Simpson Bowles the only way to get tax reform and rates down is to step on toes you have to step on a lot of toes and pretty much step on them equally if you step on one toe excessively, they can claim theyre being treated unfairly my view is the approach on this bill, getting the rates down on the individual side is not a good approach. Because theyre not bringing rates down far enough. They should have the rates under 30 30 . Individual rates. Individual rates. I think the corporate side is excellent. Its 20 about 25 . I had people say if it comes out to 25, its barely worth the it would be a tough call for a lot of folks on the business side to get 25 to go through all thi this 25 would be good, 20 is better the fact they have drawn a line in the sand and said were not going above 20 is good they cant get all the money out of the state and local deduction, even though politically substantively its the correct thing to do New Hampshire shouldnt be subsidizing new york like this. Thats not what new york thinks in any event, the way they should do it is hit everybody equally. Limit the amount of deductions you can take to a percent of your income that becomes a sliding scale event. Theyre talking about that. Not sliding scale, but a cap on but you have do it at the lower levels, too, and do it as a percent. In other words, not a freebie all the way through. That was the mitt romney proposal its a good proposal nobody can claim theyre being disproportionately hit you get to choose the deductions you want to talk but you get limited on the percentage. That was what the am it was all about. You can take some deductions but you wont qualify for others the amt is a punitive tax in my opinion senator evan bayh, youve been gone for a while. You are from indiana to start with, you have that going for you in terms of xwhcommonsense, salt of the earth. The Current Democratic Party that that youre looking at right now, when i see schumer with the people behind him all nodding, would you be there right now nodding with chuck schumer, senator were you from a different breed of democrats when i was governor of our state by the way, some of beckys family hails from indiana. She would appreciate your shoutout for the hoosier state. Sort of a shout out and a slam on the Current Democratic Party. We cut taxes when i was governor of our state. It was a good thing. There are at least three democrats in the senate who did not sign a letter saying they would not support what about you . If you were there now, would you be working with republicans and a possible yes vote on this . Yes, i would. I would. Lets start with the corporate code its not globally competitive. We all complain about companies relocating abroad, taking investment and johnsbs abroad. Thats not good for america. We have several trillion dollars not being brought home, its in asia, europe, we need to bring that back. The alternative minimum tax, that should be done away with. Theres some things where you could get a good bipartisan consensus. Most of all, try to get productivity growth rates up, which drives wage increases which is the real problem affecting most middle class families i would be one of those people who would be working together to get that done. Do you see anyone like you around maybe a couple people i guess. Heidi are three brave souls manchin, heidi and joe donnelly from my state who said lets keep an open mind and see what the proposal is. You dont sound anything like did you hear what he said lower Corporate Tax. Evan bayh is one of the more rational members of his party. Wethere are not as many centrists the problem is both parties have been taken over by their hard core shoutd ers. They have no interest in government, just standing in the corner and shouting and attacking. Theyre filled with anger and hate as a result, people like evan bayh, who are constructive players in the senate and theres a lot of them in the senate the center in the senate has no leadership nobody is willing to step forward and say lets do this in a bipartisan way if you dont do tax reform in a bipartisan way, you end up with a bill that will immediately be attacked and repealed as soon as the other party takes control. If the other party takes control will you see it undermined quickly bipartisan tax reform is constructive partisan tax reform doesnt get far. What were some of the sacred cows that had to be slaughtered in 1986 to get to that tax reform everything. We stepped on every toe. We reduced real estate deduction, the charitable deduction. We did not reduce what we should have, the healthcare the ability to deduct healthcare insurance at highincome healthcare plans state and local should be cut back you have to step on everybodys shows in this business or you wont get things done. Otherwise somebody can claim theyre being treated unfairly what will happen, im afraid, is theyll cave on state and local to some degree, they dont want to treat the people from new york unfairly, so they will go to a 39 final rate. Thats foolish whats the point in having tax reform if you have a 39 final rate evan, do you think its as simple as it is played by schumer and others that this is just a tax cut for the rich is that productive will that work the country is not that convinced, i dont think, or for whatever reason the corporations need a tax break so if you keep hammering that this is a tax cut for the rich, youre going to getdhash wi l resonate not everyone agrees cutting Corporate Taxes is something we should be trying to do if you keep saying this is lining the pockets of these rich republicans and their rich friends, that resonates. It can resonate politically, thats true. Substantively i think we need focus on what does it take to grow the economy now we need another democrat. This is ridiculous we brought you on here for a reason, youre just saying you know, youre to the right of judd hes always been to the right of me. You know what we need in this country is a solid center of pragtist matists who want to mae progress when we grow the economy, that does tend to help people who own Small Businesses and who have been somewhat successful theres no way around that it also helps everyone else. We can deal with some of those distributional effects in other ways by making college more affordable and doing some other things that really help you have turned me around you have turned me around. Preaching to the choir, but you turned me around what turned you around is when judd wanted to take away your state and local tax deduction. Im okay with that. What are we, new jersey new jersey and new york im fine. Move the show to New Hampshire, you dont have an income tax, a sales tax, a pay raise, you dont have to do anything and your daughter could go to dartmouth. We could get some good napal syrup in vermont we can go to vermont can i make one final point . Yes judd raised a good point. Thats the nexus between good policy which does require some compromise by both sides, and this divisive politics that we have today if you drive out all of the pragmatists and only have the two extremes, what you are left with is gridlock thats what has gotten the American People mad today. They wanted people the people together support judd gregg and bob corker and others, thats eventually how youll get things done governors, thank you a lot of experience on squawk box now at least from running the federal government and State Government quick programming note, senator bob corker will join us this morning at 8 10 a. M. Tickets for popular movies could cost you more next year. Why ondemand pricing could be coming to a theater near you. And well get results from Southwest Airlines, comcast, ford and twitter in the next 40 minutes. Squawk box will be right back. Not rebalancing your portfolio. Focused on what you love, not how your money will last through retirement. We make it easier to plan for retirement with day one target date funds from prudential. Look forward to your 401k plan. Welcome back a bunch of european banks reporting. Shares of barclays under pressure the company reporting a weaker than expected pretax profit of 1. 1. 64 billion. The bottom line impacted by lackluster performance at its investment bank. Deutsche bank profits more than doubled expectations. The german lender reporting Third Quarter net income of 7 78 million versus 332 expected. Cost cuts helped yield profits trading revenues weaker than expected the cfo addressed the issue a short time ago on cnbc fixed income markets, we perform very much in line with our peers. Revenue performance was down 24 . If you take the same segmentation as our peers have, which is fixed income sales and trading and the financial segment, so 24 reflects the market environment were in. In equities, youre correct, we had a weaker quarter than some of our peers that reflects the idiosyncratic environment we found ourselves in at the end of last year, particularly in prime finance which has been a lagging indicator as we rebuild balances and rebuild margins in that business we think were seeing progress there. That leads to some confidence about the future Deutsche Bank shares are down 1. 9 right now. Santander reporting a 14 drop in q3 profits the bank blaming oneoff restructuring costs due to the acquisition of Banco PopularRegal Entertainment will be testing demand for movie tickets in several markets next year, its part of an app with adam tickets, backed by disney and lions gate so it will cost you more to see blockbuster movies and less money for those less successful films regal didnt announce which markets will be participating in the test doesnt sound like got empty seats in here doesnt sound like a position of strength. Makes sense with the way the world is moving. You pay for what you want. U. P. S. Says it is raising rates on u. S. Ground as well ss also on international shipments. The rate hikes would kick in on november 24th. Merry christmas. Come to me again. Oh. Quick fingers President Trump announced he will declare a National Emergency on opioid abuse, a move that could give states access to federal funds that could help fight the crisis. He will detail plans today he will make the official declaration next week. Growing up, just growing up, heroin abuse you thought of junkies. Junkies, needles, tracks, needles. Needles. I keep coming back to needles. Theres no needle which stops people. Supposedly the i guess the feeling it gives you once you see it is tough to tough to not want to have again if there was a needle involved now who decided to make heroin pills. You dont even have to smoke it. The question is in terms of Pain Management how do you do it you need Pain Management for people how do you do it without something that gives you there are various treatments being developed now that are nonopioid Pain Management treatments but its for very specific uses. For large joints that will be it will last for six months t will be injected, but its still early on a lot of times they tell you yoga is the alternative. Thats a stretch for somebody in severe pain. A stretch so to speak one of our smart guys we have on once in a while, told me a peripheral something that doesnt work in the brain. Where the actual inflammation is where it hurts theres no feeling of euphoria that you get that you want to have again and again are they close to that . Thats what theyre working on numbing your back what about phantom limb pain . Right you dont have anything there. Its your head. Thats not the most common though there are unfortunately been in a couple wars where there are people who had that as well separately the government is set to release the final files on the assassination into john f. Kennedy in 1992 the government ordered that all records should be open to the public, setting the deadline of today. President trump said he will allow the documents to be made public academics say they expect no major new details on why Lee Harvey Oswald gunned down kennedy. Trump was tweeting yesterday evening saying cant wait, this will be interesting. Exactly coming up a busy morning for earnings it starts after the break