Change in background checks, not a lot of details here, but it comes in the wake of the most deadly gun attack in u. S. History. Problem is, its now been revealed gunman Stephen Paddock at leasted 30 fbi background checks, but what about the new revelation of a money trail that may lead to a real answer of where to go on this . Breaking news on that. Of course, gun stock may be jumping but the gun industry not the only one taking hits on the hill at this hour. Equifaxs ceo Richard Smith facing down the house after the Company Exposed the private information of 146 million americans. Congressman who led that hearing, republican bob latta of ohio has exited and heading to our cameras. What he learned and what all of us should learn from the equifax cyberfail. The bulls fiddle and play and aim for the second straight day of record closes. The yellow warning flag one top wall street bank is waving around to get your attention. Well explain. Less than an hour to the closing bell. Lets start the countdown. Breaking news President Trump about to board a u. S. Naval ship off hurricane ravaged puerto rico. It will happen in about 28 minutes. He will meet with the governors of both puerto rico and the u. S. Virgin islands. Were going to bring that to you when it happens and when we get it. Back on wall street. The phrase record shies becoming a part of our everyday lexicon as all three major indices race to nail record closes at the close here. Dow jones industrials up about 79, 80 points. The nasdaq moving higher by about 9. Automakers fueling broader gains, hitting the gas pedal on ford and gm in particular. This is a classic Silver Lining sector story. The car giants clocking big september sales gains inflated by Hurricane Harvey and maria. Consumers in hurricane hit regions like houston see new car sales up 109 after harvey flooded thousands of cars destroying them. Ford hitting a six month high at this hour. 12. 34. Gm celebrating alltime high at 43. 47. We need to get to las vegas. The bloody scene of sundays mass shooting. Fox news now learning that a dollar figure has just been put on the 42 firearms that shooter Stephen Paddock owned and had in the hotel room at the mandalay bay. 100,000. Here are pictures and by the way the 100,000 includes the scopes and the tripods. Take a look at these guns. This is just one picture, as we move through these, all, according to sources telling fox news, all highend, expensive ar15s, and ar10s among others costing from 1500 to 3,000 each. According to the soushgs not one was a, quote, junk gun. The 64yearold gunman used the guns to fire directly onto the crowd at a Country Music concert. The latest tally 59 innocents killed. 527 wounded. The gunman found dead when the s. W. A. T. Team blasted into his room. Why does the cost of the guns matter . Because the money trail may lead to a motive, perhaps or a path to how in the future Law Enforcement might be flagged if Something Like this coming to. Capitol hill, the scene where the democratic and House Senate Leaders are pressing republicans to work with them on changes to american gun policy. Adam shapiro waiting on the senators as we are to hear what the plan is. Adam, any change . Do we know what theyre talking about specifically here . Reporter these are democrats, liz, i want to read the statement about the press conference which is starting as you and i are talking they want to demand that Congress Take immediate action to close loopholes in the background check system and expand the background check system to reduce gun violence. This is being endorsed by senator Richard Blumenthal of connecticut, bob casey of minnesota and annie cloveture. Heres what he said not here from where i am in statuary hall. I have requested of the president to call us together, democrats and republicans to come together to a reasonable position. In fact, he said after sandy, he supported the bills we support. Lets hold him to that. Reporter liz, we got to throw it back to you. Yes, because President Trump is making remarks after exiting his vehicle at cavalry chapel in puerto rico. Lets listen. Thank you very much, everybody. Liz all right. We just got that video, so what we are doing is doing what we call reracking, lets do that. We couldnt have done this if the president recognizes that we need to do a lot more. We know were going to work together. This is a commitment by the president and the first lady being here. So the commitment to being here for the long haul, helping us get stability and rebuilding puerto rico stronger than before. Would you like to Say Something . Thank you. One of the things that you heard that may be happening, [inaudible] same thing with maria, weve been hit by hurricanes, category 5 in less than ten days, one after the other one. So its not by the navy, the army, the coast guard, they are rescuing more than 800 people and still going and rescuing. You are not going to be able to restore that. The governor and the president together for the first time in history, the puerto rico has direct communication with the agencies with the governors to deal with this issue. We never before and we are in the path of a hurricane. We are used to having hurricanes. Never like this one. This is a major one, this is devastation, but thanks for all the help and all that you sent to the island. All citizen agencies are on the island because of you. Thank you very much. Thank you. Still out of power, struggling for food and water. The power grid, honestly, was devastated before the hurricanes even hit, then the hurricanes hit and wiped them out. Were getting a lot of generators have been brought to the island. Most of the hospitals are open or partially open but most of them now are open, and again, the job thats been done here is nothing short of a miracle. Its been incredible. And i appreciate virtually, this is the mayor from this very important area, and mr. Mayor, i appreciate your efforts, too. And i appreciate what you had to say. Thank you, on behalf of my people, on behalf of the people and u. S. Citizens over here, your people are doing the right stuff for us. We, the mayors, we got to do the business of the people. Thats my experience over here, and right now we are helping thousands and thousands of people. Thank you, thank you, mr. President. Thank you very much. What did you mean when you said locals need to do more . Liz President Trump meeting with Puerto Rico Governor Ricardo Rossello concerned about the lack of communication which would enable him to get a lot of details out there and a lot of help to people still suffering 13 days after Hurricane Maria. As soon as the president is letting us know through his people about mounting the ship, where he will meet both with, again, with the governor of puerto rico and the governor of u. S. Virgin islands, well get that to you. Weve got dueling scandals, financial scandals in the financial world lighting up capitol hill with all of the other news going on. The house and Senate Facing off against two ceos, equifaxs Richard Smith who resigned and wells Fargo Tim Sloan who took over after his predecessor resigned at the bank. Pouring verbal gasoline on sloan after a series of scandals rocked wells fargo. Intraday moving higher. He was accused of promoting an anything goes sales culture that led to millions of false Bank Accounts that ruined customers credit. The only way were ever going to drop the scandals is to hold executives personally accountable, to fighter people who are responsible, and when they break the law to march some of them out in handcuffs. Liz three people, by the way, had been fired. Three top people at wells fargo, just for that information. Former equifax ceo Richard Smith went through the ringer as a house panel drilled into the massive data breach that exposed many of your personal information. 146 Million Consumers that got snagged. Outrage as three executives sold the stock right before news of the hack broke. Sending shares plunging, more than 24 . Ohio congressman bob latta chaired that hearing, and congressman, welcome, thank you for being here. Congressman, did you leave the hearing more or less satisfied than when you had begun it this morning . When we started what we wanted to find out are the facts. That was the number one thing we were doing in the hearing, and a lot of the testimony that you heard from mr. Smith, you know, first he apologized for all of the failures, but it started almost at day one when one thing happened after another, and so as for the memories on the committee rode in on and looking at what happened at equifax because again, you are right, over 145 million americans personal data has been affected. Liz congressman, mr. Smith failed to commit today to making hold some of the customers who either had credit ruined or been hit financially. Is this the next step or at least one of the steps down the line that you, in the subcommittee, are about to take to make sure that people who were financially harmed will be made whole . As we heard today, what theyre doing as a company, having it so people can freeze their credit and things like that. But again, we have to have more information as to whats going to happen. When you have that many people affected, and people dont know that they might be affected right now. As was pointed out by members, have you folks that live in parts of the country, they might not get Internet Service and find out if they were affected to begin with. This is what you might call the first step, there are other hearings in congress on this. But very important for us to start this process today, to start getting the facts out as to what happened at equifax. Liz speaking of facts, its interesting in both the wells fargo hearing and that scandal along with the one that you are dealing with and equifax, there are multiple warnings. In wells faringo, the l. A. Times basically gave wells Fargo Management a flashlight and a map to all of the wrongdoing and the scandalous behavior going on at the bank and they ignored it for quite some time. At equifax, you had cyberexperts flagging them there was a hole in the particular software and offered the patch which somehow neglected to get put into place. How infuriating for congressional members is that . You are absolutely right. What you saw was they were warned in early march that there was a problem. A patch had to be made. Internally they were told they had to do the patch to get it taken care of. It didnt get done until all of a sudden, they find, weve been breached, a couple months later. All the warning signs were there, and it was like internal protocol. What happened . It seemed to break down, this information didnt get put into make sure the patch was done. Liz again, going back to initial question, are you more or less satisfied coming out of it than you were . Sounds like you are not quite satisfied . No, i tell you, i dont think any member is. When you hear of this, its almost its incredible that all of this could have happened and nothing was done. And you are absolutely right. All the warning signs were out there, and not only were the warning signs, there they were told do it but certainlily or externally, that didnt get done. Liz equifax stock coming back a bit, up 2. 75 . Thank you. Thank you very much, liz. Liz bob latta of the great state of ohio. Go indians. Closing bell ringing in 46 minutes. The dow is up 77 points. Thats a record, along with all of its others. For eight years, the bulls have been on the run, but bank of america, Merrill Lynch releasing a Research Report that reads like a yellow neon warning flag. What theyre worried about and whether floor show traders agreed . With the vegas and Global Security industries under scrutiny, one hotel sending guests through xray machines. Would that type of screening have stopped Stephen Paddock from bringing a virtual arsenal into the resort . The security expert who probes Hotel Security systems to find and fill the holes. Hes coming up. At fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Liz you know, market bears have been hibernating for eight straight years as stocks nearly every day race to fresh records. Are all the frolicking bulls about to get clawed . One wall street powerhouse saying yes, beware, this is getting too crowded. Pamplona is too crowded with the bulls. Warning from bank of america Merrill Lynch which conducted an Investor Survey and what did it show . Extreme bullishness at the end of september which typically means stocks are flashing a major sell signal. But really, havent we been asking this over and over again are . The bulls running out of steam . Lets bring in the traders. I hate to keep asking this question, the survey is news. Jonathan corpina, what do you think . It is news. Bank of america feels there say turn here, i feel the market needs a turn, were not going to get it at this point. Look at the last headlines over the last nine, 12 months. A lot of negative headlines. Terrorist attacks, government shutdown, debt ceiling, not look moving forward not as bright as it used to be. The market moves higher and higher. Sunday we get news of talks between north korea are not going to prevail to anything. We have the incident in las vegas over the weekend, too. Market comes in, we havent seen red on the screen yet. I dont think theres anything thats going to derail this market at this point. The one thing i think is the variable that is out there is the north korean headlines, that can change on a dime at any point with the very unstable environment thats there. Liz im with you on north korea, others disagree with me, they think the fed still has a lot of power, larry, i think john is right. Financial markets dont care about biblical rains as sergeant guilgoyle put it. Biblical rains in houston, dont care about a shooting in las vegas, is that because of what could swamp the average investor . That is algorithmic trade. For those of you who dont understand what it means, computers trading on set levels and minutes and could swamp if the herd moves and changes, right . Absolutely. Robots like artificial intelligence, whatever you want to call it, that could hurt the market, it could hurt it in a big way. We dont understand what happens in the atmosphere above us, around us, when it comes to trading. Its not like it used to be. So that does concern me, but i think the other concern that we can see with our own eyes is actually Balance Sheet normalization coming from the ecb and the fed. Im not saying were going to have a big correction because of it. Trillions of dollars that have been vacuumed up by the governments, its an experiment thats never been attempted before and who knows how it will end up . Thats what id be cautious about. Liz weve heard a bunch of people say we havent seen this movie before, phil, flynn, the fed trying to unwind us. It will take 3 1 2 years to unwind the 3 trillion they want to lop off. Anything in the oil world flashing a red signal or a green one . It is, if you compare the price of oil to where the stock market, is we have one of the biggest divergents in history. Either stock is way too high or oil is way too low. Either oil is overvalued or stocks are overvalued. Looked at vix, there is no fear. Why . Computers dont get scared. Theyre like machines, okay . That could be good or a bad thing, because it leads to excessive risk taking. If nobody believes a correction any time soon and the computers hit in the buy signal, thats when it gets scare fee. There is a problem, you better watch out. Liz it is odd to see the vix up. Busy day, the traders there, have a lot of experience between the three guys. Closing bell ringing in 37 minutes. Intel leading the dow 30. Walmart near the top after acquiring new york City Delivery Service parcel giving the company the ability to deliver to customers in new york, same day, fresh andez frommen groceries from walmart and jet. Com. Walmart up. 75 . Airlines are flying high, why . Delta reported september numbers that were not dramatically impacted by hurricanes harvey and irma, despite the cancellation of 2200 flights. The report giving most of the major carriers a lift, delta, american, southwest, United Continental with united up 5 and delta up 6 . Up next, the destruction in puerto rico from Hurricane Maria blocking roads and preventing flood supplies and medicine to reach millions of americans. President trump on the ground as we speak. Blake burman on what the commander in chief is doing to speed up the aid getting to the people who need it most. Countdown coming right back. Think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp. Liz welcome back. Just getting video in of what the president has done today on the ground in puerto rico, which was of course ravaged by Hurricane Maria, and as you look at this, im just getting details on exactly what hes done. Hes toured much of the island, and his as theyre calling it the hello cade, the motorcade of helicopters, they went over rural parts of the island, large patches o