Have red arrows pretty much across the board and wti crude, right about now you can trade it for 48. 49 here are the big stories were watching Warren BuffettsBerkshire Hathaway was outbid for oncor. Senpra will buy it for 9. 5 billion in cash. Hedge fund Elliott Management which is the biggest creditor to oncor had opposed the sale to berkshire and arguing that it undervalued the company. Berkshire said it would not raise its offer. In another deal, maersk agreed to sell its oil unit to total for nearly 5 billion. The transaction is the latest sign of consolidation in the oil and gas industry which has been dealing with a do you know t. U. R. Tur downturn the deal is still subject to rely laer to approval. And jeff immelt has become the frontrunner to take the helm as ceo of uber the report says ubers board is expected to vote in the next two weeks. I immelt has the report of several directors. Developing story, ten sailors are missing, five injured after a u. S. Warship collided with an oil tanker east of singapore the navy said the guided missile destroyer was heading to a routine port visit when the excellent happened this is the second collision involving a Navy Destroyer in just less than three monthses. And u. S. And south Korean Forces are beginning computer simulated military exercises today amid those tensions that continue with north korea. South koreas president says that the joint drills are purely defensive and do not aim to raise tensions on the peninsula. The drills will continue unand i will until august 31 and President Trump will outline his strategy for the war in afghanistan tonight it will be the third primetime address of president s seven month old presidency and aim monday jobb and i mondds is joining pups. Reporter no word on what his new afghanistan strategy is, but it is expected to involve more troops in that country over the next several months or years well wait and see what the president has to say on that front. Meanwhile more turmoil inside the Trump Administration as carl icahn, special adviser to the president , sent a letter to the president that he was resigning from that position icahn saying i choose to end this arrangement with your blessing because i did not want partisan bickering about my role to in any way cloud your administration that announcement coming a little bit before the new yorker posted this article about carl icahns roam at the white house raise being ting the question o whether he was using the position in on order to benefit himself financially. Icahn says that he has done nothing wrong. Meanwhile over the weekend, Steven Mnuchin treasury secretary defending his decision to stay on as treasury secretary after the president s behavior last week. Mnuchin writing in a statement to his fellow college classmates who had written him saying i dont believe the allegations against the president are accurate and i believe that having highly talented men and women in our country surrounding the president in his administration should be rea assuring to you and all the American People. As long as i am treasury secretary, i will do the best job i can for the American People and provide the best advice i can to the president. So a strong statement there from mnuchin that he is going to stay on board so much speculation about mnuchin and gary cohn in particular, whether they would stay or go the white house has said cohn is staying and now mnuchin himself on the record saying he is staying. Steve bannon however is not. You saw friday that the president ial adviser has left pn unclear what role he will play outside the white house. Hes gone back to breitbart will he will begin his career again as a right wing commentator. Well see what role bannon plays outside the white house after several months inside. Back over to you before you go, lets walk through the carl icahn situation a little bit more because the charges in the article to some degree are explosive weve known some of the issues before, a lot of it evolves around a refinery which he owns and whether he may have been helpful in terms of the things that he either directed or encouraged the administration to do there is a quote from a Bush Administration ethics lawyer who says that carl icahn is walking right into possible criminal charges. What is your take on all this . Well, its dramatic stuff and it will have to be left to any investigators to figure out whether anything that icon oig did was inpreept. But there was criticism of the icahn appointment early on if he was going to be a special adviser, why wouldnt he be required to divest position of his various holdings there was a question of conflict of interest from day one and now icahn leaving, if you look at the statement that icon oig put out, it read to me in the first few minutes of just looking at it that it had been parsed fairly well by a teamtal lengthed lawyers, very clear that icon oig want icon oig wt that he did nothing wrong and minimizing his role with the president in terms of any advice, how often they met but he did have that relationship that was very vifsible to the president. And when the story roke, th assumption was that he was doing this because of charlottesville, but now it appears that its different than that. Oh, absolutely. And it was clear when the statement came out it wasnt to do with charlottesville because he doesnt mention any of that in the statement it seems to be a question of a conflict of interest and whether or not icahn overstepped any legal or ethical boundaries. But well very to see if there is any investigation of this a lot of the traders assumed it was charlottesville and one other thing i thought was fascinating, a piece in the times about bannon leaving, just how much advice he still is taking from his old pals in the real estate world. Steve roth apparently called and said you have to get rid of bannon tom barrack. How much counsel is he keeping thats a good question. I wish i could tell you the answer hard to tell who has the president s personal cellphone number, but we do know that he does talk to his old friends in business on a regular basis. That is the first time ive seen them actually listed in a public article and laying in exactly what they said to the president. That is usually stuff that they keep very quiet. But clearly those three individuals wanted it known or somebody close to the president wanted it known exactly who was weighing in and what they were saying there but yeah, he is somebody who does take advice from his associates in the business world. And some of that drives the white house staff nuts because they cant control what kind of advice hes getting and what kind of input hes getting from the outside world. And then the other question is how does he feel or react to the fact that there are so many people now inside the white house defending their role in the white house but defending it in such a way to suggest that were effectively the sanity caucus i think one of them described themselves as. And that without us, it would be that much worse and things would go off the rails completely. I mean, that this is way i understand why they would say that, but its also not very defensive of their boss if you will its tough to take if youre the president of the United States i think ben white had a good point in politico writing that the president will likely have seen the background quotes from gary cohn suggesting that he was offended by the brds president behavior not what you want to hear from a top aide who is angling for a high powered position such as Federal Reserve chair. So does this sort of rift between the staffers and high policy aide and the president continue to widen is something that we have to watch. But clearly if you are the president , you dont like those statements you do like the fact that they are staying, but the president is always wary of anybody who he sees as getting too big for their britches okay. Eamon javers, thank you. In the meantime, adp fighting back against bill ackmans management. In a news release moments ago, adp announcing that its board has voted unanimously not to nominate of the board candidates the interviews determined that none bring any additional skills or experience to the adp bhord pershing owns not just all equity and has called for the ceo to be replaced lets get to the broader markets. Joining us is oliver pliiver peh good to have you here. We started to see cracks in the market last week two weeks in a row weve seen declins even though they are not huge is this the beginning of something good in fundamentally, its still very sound the economy is doing well. Corporate earnings are strong. Interest rates are likely to remain low with the possibility of the fed pushing the rate hike maybe even into next year. So i think fundamental basis there is a lot of reason to be optimistic but there is a lot of geopolitical stuff happening that will likely cause a correction but lets keep in mind, we havent seen new in quite some time and that is a normal market cycle. Are you predicting one . I dont know if im predicting one, but we always tell our clichbtss that you should be prepared for a short term correction anytime. If youre fully invested, look at what has sold off more than others because things dont sell off evenly and if you have positions that you really like be and they sell off 14 , 15 for no valid reason, you act to those bob, what do you make of the markets . There is slon piness technically. And i agree fundamentals are still good, but average stock is down 6 from its high. And most of them may have seen their high for the year. So i thinks easy money was the first half and second half will be bumpier do yo s i dont see big down side. I think it will just get a little boring. Do you delve in to certain sectors and try to pick and choose if the low hanging fruit was first half of the year, do you have to get more selective you do. Second half will be an alpha year what does that mean you have to own stocks that are going up and avoid ones going down isnt that true all the time . When the market is going up, you can own most things. You have to be more selective. Financials, technology, health care are our favorite areas. And part of that has to be because Interest Rates dont seem to move and infligs hasflation has f people scratching their heads. And utilities, one of the the only sector last week that actually went up because with the heavy exposure to Interest Rates. At the moment that is the case after a horrible second half of last year. I think that they will run out of steam again do you buy stocks that have a lot of over seas exposure . Weve started to see already there has been a performance divergence if you look at international versus domestic. I wouldnt use that as the sole criteria to buy. I think you need to dig deeper and is ittic istick to fundame, strong balance sheets. Total that was mentioned earlier, you know, is a great name but we want to own total because we think that its and attractv company, not because its a French Company and they happen do more business this north america than chevron which is an American Company so you dig deeper. Either of you doing any pickings over the wrecking in retail home depot Earnings Report was pretty darn good but its getting hammered i agree buy more home depot its not particularly cheap. Earnings report was brilliant. Same store, margins were pretty good but stocks as we just said dont go straight up and this one is taking a breather. 2425 on the s p now we have an actual Technical Analyst will be coming on. Fundamentals dont help when youre talking about down 2. 5 and the advice that i told my investors to be ready for a correction at anytime, we could have you on anytime and you dont have to say anything different. So well have her own and actually here stuff about near term, whether we go 5 or 10 or here is the chart, michelle, compared to these other im looking at about a two year s p chart. I dont know what happens. Maybe we go to 5 , 8 , im not sure but i know at this point were at 2. 5 . If youre an etf investor, its time to go to being a task cal investor and that means that you look at momentum, at price moves and you recognize that some sectors are just going to go down more than others because the market is breaking down a little bit technically but weve seen 2 , 3 moves before what part is breaking down technically . When we have so what youre saying then is an underpinning shows more than a 2 decline right now. Yeah. Not horrible, but sloppy youve been ready at anytime for how long have you been saying that items probably the highs for the year you said that last time you were on ill send you our stuff, joe. Youre so wrong. All right so youve been until today, youre been 100 bullish im still 100 invested calling 5 and 8 xreks iscorre a possibility you just have to be aware but youre still bullish that most stocks have seen their highs for the year correct but most stocks have seen their highs. Lets suppose 650 of the 1,000 have hit their high for the year i got 350 to play with so now we need guys like you that can pick the stocks that will go up well, guys who try to we always try to but its a little harder and amouna little more necessary. Thank you guys. Bob will be sticking around for the rest of the hour im sure hes thrilled about that so your market troubles are over bob is going to stay wow thanks, oliver. Coming up, when we return, the wait is almost over, the Great American eclipse will happen it will happen this afternoon. Jane wells is camping out in oregon, and she will tell us join us next with great images and on wednesday august 30th, Warren Buffett will join becky quick at 11 00 a. M ronoh really . Gs going on at schwab. Thank you clients . Well jd power did just rank them highest in Investor Satisfaction with full Service Brokerage firms. Again. And online equity trades are only 4. 95. I mean you cant have low cost and be full service. Its impossible. Its like having your cake and eating it too. Ask your broker if they offer awardwinning full service and low costs. How am i going to explain this . If you dont like their answer, ask again at schwab. Schwab, a modern approach to wealth management. Thats why at comcast were continuing to make4 7. Our services more reliable than ever. Like technology that can update itself. An advanced fibernetwork infrustructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. In new york the eclipse begins at 1 23 p. M. And peak of totality will be at 2 44 and the event will be eeover at 4 00 p. M well see wiabout 71 of the sun obscured but jane wells is in the path of totality in oregon reporter this will be one of the fist places where the eclipse hitsductivity will dropt 700 million as everybody goes outside to look please wearing the proper safety goggles. It will be one of those things that i say they are not including the dollar is made from what i call apocalypse tourism. There are 12 million americans Live Management path of totality the population of that area will double across the country today. When i got into madras, oregon, traffic here to the camp ground was backing up 20 miles out and the last two miles, i bailed out of the car and walked. I left the producer with the car. Took him four hours to go two miles. Locals are hoping that revenues will eclipse expectations. One woman spent 5600 to get porta potties and shes charging up to 150 a spot on their farm. I think that is one of the beautiful things about america is that you can do things like this if i could charge less, i would, but i have to break even with the portapotties reporter all right now, at t and verizon are rolling out what they call sales on wheels. Cows to provide cell service in the area it wasnt working so well last night, but do you know what was work something those portable toy lets, they are taking a beating. They are still working gu guys, that was technology around in the last total eclipse in 1979 this was not around. This is iffy, those still working. Back to you. Thank you, jane shell be live during power lunch. Are you going to watch my show with the total eclipse i have to be outdoors but you can watch it multiple times as well cover the path, i love the phrase, path of totality it sounds almost cultlike reporter i cannot wait i feel very blessed that i got to be on this assignment because while the rest of you have to because you love camping . Reporter if you are in well, not so much. I didnt getfully sleep. But if you are in totality, in that two minutes, you can take these glasses off and look at it but only if you are directly under it and only in that two minute period. That is going to be something i will never for get and the reason this is so important is because when just the edge of the sun is popping out, that glare is so strong it can burn your eyes, right . Reporter yes because people think for some reason that they can look at the sun because it doesnt seem as bright it is. It will. And you wont enfeel it, your retina doesnt have nerve endings. You wont know until later that youve damaged your eyes but if you are in that moment of totality, the two minutes, all you see is the suns corona and it is safe to look at it but you guys in new york, dont. Get these. Lets say that there is a normal day and you look up at the sun, if you look quickly and look away, i mean that is not long enough to get burned, right . Reporter right, but not long enough to register the eclipse if you do this, you know ive been trying to find out about pilots flying east this morning. If the faa has issued some sort of, you know, warnings to them because in the cockpit, you know, ites just all glass. I havent gotten word back did you Read Alaska Airlines has offer a special flight for the best customers, dont worry about cloud cover, well bring you on a special flight so you can see it from above any possible cloud cover that is cool reporter yes, they are chasing the eclipse. But its funny, there will be a lot of flights, southwest has listed all the flights that will be flying through. Did you put that tent up or did you just show up and the chair was ther