The jolt report coming out at 10 00. Then we have the Kansas City Fed survey, as well. Equity futures this morning, at this hour, at least, are indicated higher. Dow futures indicated up by about 50 points above fair value. S p up by about 6. 5. Andrew, back over to you. Good to have you back. Thank you. Its good to be back. This is a very different place than cnbc asia and bernie. Well talk about that in a bit. Rr done nelly is going to buy consolidated graphics for 620 million. As joe was just mentioning, bank of america lost a fraud trial over u. S. Mortgages yesterday. Live on fraud for claims related to defective mortgages for funds sold to its countrywide unit. And finally, Lehman Brothers, remember them . The Lehman Brothers holding company, this is the one that sort of went through the bankruptcy process is suing giants stadium. It wants to recover more than 100 million of a canceled Interest Rate swaps contract that would used to hedge bonds issued to the arena. The lawsuit came about as lehman. Giants stadium couldnt agree on the settlement amount to swap contracts after lehman fooird filed for bankruptcy. Mr. Kernen. Andrew, good. The tape i wanted, didnt bernie lowecall you a socialist . He called me a sociologis sociologicalist. It was during the obama care discussion . He is proud proudly righter than right. Hes right of me. Absolutely. 100 . Wow. Hangs out in seattle. Thinks everyone should have a gun. Wow. Its true. Sounds like a soulmate. You guys should get together. They have a it was a lot of fun out there. While you were traveling, did you notice the tenyear yesterday . I was on an airplane yesterday. I dont know where it is today. It was 2. 49 yesterday. Its back above right now. 2. 50 , though. It was pretty amazing. So it was about obama care when bernie called you that. Its been so long, the Government Shutdown. What was it that the republicans were insisting on and the white house wouldnt do it . Do you remember . Something about obama care being delayed. The mandate. Something like that. I dont really i cant really recall now what it was. But i think thats its something about that. Hit me with a feather. Was the it the individual mandate they wanted to why couldnt they have said a week ago, lets do eight weeks and the republicans would have said, yes, victory. It would have been a compromise. Because i think the Obama Administration didnt want to be seen to be caving for this. They have to admit, though, when you look at the problems for the website, not everyone is going to be able to sign up. But what about all the people who are trying to get health care and arent going to have it because its getting dumped january 1st by their existing plan. Do you remember, though, when i was saying both of these sides are in a tenable position. The one side, it was in the democrats side to delay it so they could get it together. And it was in the republicans best interest to not delay it to let it roll out before it was ready. Thats how stupid both sides are half the time. Theyre in positions that are undercutting their longterm goals. Number of stocks to watch this morning, at t earnings beat the street by a penny revenue, just sightly below estimates. But the internet content delivery, theyve got to be resolving with the cloud at this point i would think. Outlook was on the conservative site citing uncertain outcome of negotiation with its biggest media client. This is likely apple that theyre talking about. Shares originally spiked on results and fell. I wonder if they have anything to do with the nsa . They would knot know. That got ugly yesterday. The last thing i remember is w tried to give her a back rub. Now we have a spy problem. Meanwhile, i tried to work excel. He had used excel. He has all these Democratic Candidates and he increases his contributions each year by 5 . Come on. And its a spreadsheet. Its representative. The control of this guy. Youve never done microsoft excel . Never. You have used it . Yeah, over the years. For what . Stocks analysis . No. Not huge analyses, but political candidates. Party lists. Party lists. So not democratic party, but parties. Exactly. Put yes or no in each box. It was a rough after the bell session for tech names, some of them. Sa man tech reported lower than expected Second Quarter revenue. Below expectations. This Company Makes that norton antiVirus Software. Sometimes i see that come up and i dont know how to get rid of that. Its a little x. People laugh at me for not using excel. I dont know how to make an icon move or to make it bigger. What . If it gets bigger on the laptop at home, i dont know how to make it smaller. Im not in that generation. Im sorry. I never learned how to use windows very well. I didnt. Then i got a mac and everything is sort of different. Yeah. You feel how to do it. Right. The Virus Software was hate by low demand for storage and security in a weak pc market. Other movers include angies list. Ive seen angie in commercials. Shes young and rich. The Online ReviewCompany Posted lower than expected quarterly revenues at first Year Membership renewal rates fell. It forecast Current Quarter revenue sort of market estimates and medical devicemaker varian, medical systems reported lower than expected Fourth Quarter results. Demands for products that fell due to uncertainties. Something else thats slashed, its earnings forecast for the full year. Were going to do a lot about the stock market today. Were going to have marty on, a great stock picker. Lots of 8 billion, 9 billion, hes been in the business a long time. What i want to ask him, macrowise, now that we know the jobs report, Everybody Knows why should the stock market go up at this point . Same reason. But if theres no more multiple expansion, then maybe we start going up because its what we do. Companies do better as time goes forward and earnings go up and you the stock price should go up the same amount that earnings go up. So you find companies increasing their earnings because they have the right idea. They have good demand. Do you think it has something to do with qe . Everybody knows now that were not saying its that good or bad for the process of qe. At least this year. I believe march is the soonest that theyre going to taper on any of this. Right. Mark faber was on earlier. You heard him saying when they get up to a trillion dollars we saw randy k can rosner in hong kong. And he said, you know, when your grandchildren are born. He thought this was going on way longer than anyone hes that guy, too. And faber said during a crisis, anything the government introduces as a program to deal with the crisis in the past has stayed permanent. I never really thought of qe that way. Greenspan. That was his point, to surprise new a good way. It cant be gasoline for the engine. It has to be a prime of a stalled engine. You prime the pump and then to keep it running again. Thats what Richard Fisher said all along. The white house said it may announce revised guidance about the date by which americans are required to Purchase Health insurance. Its not immediately clear whether the adjustment would need to be approved by congress. Full damage control today. John, do you want to take on what joe was saying . Im sorry, i missed your question, andrew. Given the practical problem that clearly the administration is confronting, why didnt they make this a piece of whatever was happening two and three weeks ago . Well, i mean, they are trying to make this thing work. Whatever was happening two or three weeks ago was an attempt to destroy the law and theyre trying to make the law work. If they cant make it work, theyre going to reap some of the consequences that republicans were trying to voice on them. But their goal was to try to make it functional and thats still their goal. Well see whether they can do it. Its not good prwise, john. My point and it would have never happened, but my point was why didnt they say, well give you eight weeks of a delay. Republicans would say, theyre throwing us a bone. All along, the white house could have used more time to get this thing more ready to go. Its weird that both sides were in these entrenched positions where neither one of them could move off of their position and both of them would have been at an advantage if they had. It was counterproductive. Well, look, this situation is counterproductive, no doubt about it. But, you know, were going to see whether they can have their tech surge be effective. We still dont have the reason to think that the basic idea behind the law and the basic mechanism at the heart of the law is functional, so far as we can tell. It is a technological problem. Exception think about the types of premiums here seeing in other places. What about the prices . I saw last night, one of the insurances in michigan, 40 increase is what it was going to be in detroit. For who . Your paper, poor are going to pay more often. Im not sure how that works. It may be in states that had not expanded medicaid, there are some people who are going to fall between the gaps. But my understanding of the way the price increase rate increase situation is going to work is that because of the individual mandate and the higher standard for individual market policies, that some people who have bought very bare bones policies, especially who are young men, because of the ways in which price, Insurance Companies are allowed to price policies and charge women more than men and charge becky has been saying this for three years. The analysis suggests that the ambitions to increase comp tegz evenly have unfolded uneachly and at least in the early have not addressed any factors that kuhn attribute to higher they havent done anything about lowering the prices. Thats it. Insurance companies are reluctant to enter challenging new markets because rates are high fair enough. As a result, particularly in rural areas, it ends up being a little more difficult. Yes. Look, theres no doubt that some markets are more difficult and less profitable for Insurance Companies than others. But, you know, its not like this health law was going to solve all of the problems that weve been wrestling with health care for decades. You know, john, im less concerned with the politics and how that all plays out. But more with january 1st. There are a number of people who have been told that their existing insurance will no longer cover them, that they have to go to these exchanges. You may say give them a six or eightweek delay, but what if someone is legitimately trying every day to get Health Care Insurance and doesnt have it by january 1st and has to have some gap of time where they have no Insurance Coverage . Well, you know, the way the Enrollment Period is working on the exchanges is that you have to originally, there was a sixmonth enrollment, from october 1st to the end of march. And they had been saying initially that if you you need to sign up by february 15th in order to be covered by the end of march and be in compliance with the insurance requirement. Now theyre saying because of some of the technical problems, if you have applied by march 31st, you will then be in compliance. And that is one way of sliding in. Look, it may slide more. If they cant get the computers to work, if you cant get on the website and find your insurance what do you think is the timeline . Is there a timeline at all . I dont think anybody knows. Different insurers are trying to verify stuff. Theyve tried to resist giving a timeline and i think that is probably smart on their part because they dont know when theyre going to work. Theyve got all these people, you know, its an incredibly xhex thing involving interaction between federal governments, insurers, state governments and i dont im not a tech guy. I dont understand how it goes. Some tech guy somewhere, john mcafee, will know you saw that crazy story, right . I dont think so. Theres so many moving parts, andrew. It depends on what they choose to do. They have so many tech people involved in it. But i read something the other day that you could do with old software and old nuggets, you could do everything you need to do, but it would be better if squeak emanuel was one of the architects of the entirety thing saying he thinks there needs to be daily updates and Weekly Performance of how to check some of these things. So its enough to concern even some of the architects of this plan at this point sflp. This is a realtime experiment in Crisis Management by government. And, you know, so far, its not looking very good. This is just a rollout. This isnt even providing the health care for everyone. I cant wait until thats happened. Thats the easy part. Is that the easy part when theres no doctors left. Anyway when theres no doctors left . Its going be that was one of the pieces that was around yesterday, yeah. Youre increasing demand, but not supply at this point, john, right . Youre increasing demand and well, we need more primary care doctors and there are things in the law which encourage people to go into primary care. But. There are some states, it is true, where because of scope of practice restrictions, the shortage of primary care doctors is more difficult than others because, you know, Nurse Practitioners cant do as many things in some states than they can in other states. Thats one way in high demand states you can deal with some of the increased demand for medical care. But you know, i can deal with a glitch in signing up, but hopefully the Actual Administration of helth care. Getting treatments you know, this is just a bad omen in my opinion. If this part is that difficult, well get through this, its not hurting anyone at this point, but when youre trying to see a specialist, is he covered, is the procedure covered . Will there be reimbursement for this drug . When all this starts happening and hopefully true, joe hopefully not every corporation farms it out to obama care. And i know the people in congress and the senate are hoping that, too. But joe, just to clarify, though, even if people go on the exchanges, were not talking about government doctors. Were talking about im not saying that. Youre talking about that youre talking about who there will be experts that panel that decides whats covered and whats not, john. And there are going to be, you know, decisions about whos in the network and who is not. I think youre going way down the road. All right. If you feel like this is going well so far, we dont have to worry about anything else, then thats no, no. Have you heard me say everything is going well so far . No. But this is the part where this part i dont even care about. I care about how five years from now how the entire system is running. But, joe, let me just pose this question to you. We work for nbc. Whats happened to our health care since obama care . Nothing. Nothing at all. So already get health care, the vast majority of employers get health care. We dont know how that works, john. For most of those people, all this stuff doesnt really make a difference. Were going to have our open enrollment for nbc, you know, around thanksgiving time like we do every single year and its not youve seen how many people are trying to go to defying contribution. You know, this is going to be an alternative for most companies to look at, which may cause them to change what they provide right now. That is true. And its an interesting question to see how much that happens. If that does, in fact, happen its been happening quite a bit, right . Well, not as much as people have been describing. We have a longterm wait. Hold on. We have a longterm trend in which employers have been trying to shed benefit costs, but it is not i dont i havent seen it dramatically accelerated. Remember, firms have dropped insurance, firms have changed benefits. Premiums have gone up for a long, long time before this law was passed. All right. Coming up thanks, john. The icahn family house of cards, an interesting bet between carl icahn and his son. They are going about their netflix. But first, squawk sports news, game one of the world series going to the red sox. David ortiz and mike napoli drove in three runs apiece. Boston really did pound waynewright, i thought he was the best pitcher around, 81. Thank you orville and wilbur. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Easytouse platform. No, thank you. We know youre always looking for the best fill price. And walk limit automatically tries to find it for you. Just set your start and end price. And let it do its thing. Wow, more fan mail. My uncle wanted to say thanks for idea hub. He loves how he can click on it and get specific actionable trade ideas with their probabilities throughout the day. [ male announcer ] open an account and get a 150 amazon. Com gift card. Call 18882800149 now. Optionsxpress by charles schwab. Time now for the executive edge. This is a daily segment focused on giving Business Leaders a leg up. A father son drama over netflix. As we discussed yesterday, investor carl icahn sold more than half of his netflix stake and made a pretty penny in the process. Esz said to be so convinced that he is right to sell is shares that he made a big bet with his son, brett, who disagreed with that decision. Brett and his partners say they believe the streaming company is still undervalued. If his sons views are proven right and it turns out he sold the netflix shares too soon, it was his sons ideas that carl get into netflix in the first place. When he first spoke about it, he spoke about it as if it was his idea because he was mr. Blockbuster on the down side. Apparently brett is also the inspiration behind the apple investment, too. There you go. Maybe youre an investor. You buy it at 50. It goes to 330. You sell avenue v half your position. Thats not huge stretch of the imagination. Maybe these young fellows, its 30 years old. I think hes 34. Ma