Oil inventories tonight. The market, futures higher as stocks break their losing streak glimmers of a plan macys adds a Top Executive and announces a further restructuring, how the new ceo is talking about those changes. Forecast in decline in teen anl u usage. Stocks are poised to open higher playing a big role politico, jim, says the big six as they call them, has a lot more than they had in july when it was just six paragraphs. I thought mcconnell saying there is going to be a debt ceiling not an issue was really important. And i think that can be an underpinning for a potential rally, given the fact that until he said that, i think that it was just well cast there may be organizational principles here. Im not saying that i think anything can get done necessarily on taxes im also saying were not going to suffer from a debt downgrader. You believe mcconnell i do. I think mcconnell is trustworthy on this issue. I really do. I know im out there on that. Politico at the same time as a piece saying on the debt ceiling, two sides are basically talking past one another there is no strategy to get that through in such a short amount of time. I think that mcconnell should he did not give any hedge. Yeah. I thought that was very valued he didnt give a hedge for the Supreme Court justice. And he got that approved hes hedged when he has felt things arent so good. I regard that as very positive. As for the tax package, politico spells it out this way. Capping the deduction on mortgage interest. Scrapping local and state Tax Deductions theres other things that theyre quietly talking about, taxes 401ks up front. I dont think any of that is going to happen. Toll brothers reported on 800,000 homes sold in this country. Used to be much higher mortgage reduction is sacred in this country tax 401k tax water. Come on. Tough sells. Tough sells and state and local, there are enough states and locals that have republicans that are not in favor of that. Now look, i do think that the corporate side is real if theyre going to do that with corporate and personal its going to fail like obamas did. On corporate the numbers theyre throwing around are 22 to 25. But with some with a onetime repatriation deal. Thats the kicker a lot of stocks i dont like right now but i would really like the ones you really love are faang. I guess we have to say cfaang because cisco is beneficiary silent c. Speaker ryan was on last night. How is he doing he hinted he basically said getting tax reform through might be easier than health care. This is something we have to make good on thats point number one. Point number two, i believe it will be far easier for us to do tax reform than it was, say, for health care reform. Because, in this case, theyre not as beholden to senate rules. Also, i dont know why the president doesnt just say tax reform is good for us. We all get more money. I do not understand the whole dialogue Tax Reform Health Care is the hardest thing in the world they picked the hardest thing in the world to start tax reform where it means tax cuts we all favor tax cuts, particularly when it comes to election time. Now i got caught up with the speaker ryan last night because there was a hit on Odell Beckham that i watched i wastra transfixed by the hit. Like wow this is the kind of thing that takes your breath away tax reform, i always thought it was so easy. The president is off message tonight. He will be freelancing he is in a campaign rally. In phoenix, yes. Campaign rally, campaigning for what okay thats all right thats all right hes campaigning but last night he was president ial someone used that earlier. They hesitated but he was. If he says were going to lower the taxes for the middle class, i promise you that would be fabulous we would come in tomorrow and say hey, you know what something could happen there. Well talk a lot about it going into september and october, for sure. Macys announcing management shakeup in the wake of slumping sales. Hal lawton was tapped as incoming president here is what the ceo told our Courtney Reagan about the incoming president earlier on squawk. A great choice for macys, intersection of retail and technology and what he did, what he learned in terms of his retail experience, how he applied that to a Technology Company and coming back to a retailer, we think he will be able to scale change much faster. Says the dividend is safe jim . Great interview by Courtney Point blank, it was terrific ive been going over what ginnette said in the Fourth Quarter im sorry, in the Conference Call, a little disappointing. Remember the stock just got crushed, versus what hes saying with courtney. I felt better. He said really theres not much going on with real estate in the comps call that was dreadful. He it say things are happening i really like that he talked about the Fourth Quarter being promotional. That is christmas. He did not say that this time. Talked about loyalty i like the fact that they have a technologist theyve lacked that. At jet. Com in that Conference Call, mark laurie was viewed as being part of the team this is very important for macys and that dividend comment, i did a breakup analysis of macys and youre getting the company for nothing. I did say that the cash flow is there. If its a really promotional Fourth Quarter the cash flow is not there. For viewers who are wrestles with whether or not to liberal here, your level of conviction is its good trade into christmas. Into christmas . Yes it is a good trade thats not taking my life into hands. Its not footlocker. By the way our producer Shannon Stevens points out now officially the biggest s p loser of the year. Down 55. Sometimes youre on Conference Call and youre saying, well, this cant get worse as the Conference Call goes on and it keeps getting worse, keeps getting worse obviously nike yesterday kevin plank, please come on. Footlocker and really kind of a there was a real undercurrent here that something is happening in this business. Kohls took nike and under armour that was a big decision by those Sporting Goods companies to go to kohls. I was very much surprised after dicks, which was a horrendous Conference Call, that anyone thought that footlocker could be out there. But footlocker was terrible. I mean, when they said that double digit divide for basketball, did people just stop paying for big sneakers . As you said yesterday thats where the money is. I look at footlocker and l brands, which has thousands of stores and thousand bed, bath and bodyworks, victorias secret theyre out of gas i like what gennette said this morning. I really do. Your point on biggest s p losers for the month, not the year, footlocker, then l brands, then mylan. Horrendous number down today. Chesapeake is natural gas places, apache, my travel trust owns its a disaster. They have not explained this at all and they dont seem to be doing anything a quarter that should have been a complete home run and it wasnt you lose some, you lose some. Moving on to facebook this morning apparently, according to a survey, well see a decline on teen users in the u. S. This year, according to e marketer. Number of users between 12 and 17 years old will drop 3 to 13. 5 million as they migrate to snap chat and instagram, first time emarketer has predicted decline in teen usage for any group. What else is new my teen is no longer on facebook im on facebook. Im with the viewers. I love a good survey i surveyed the nfl tom brady looks good patriots look good thats a breakout survey and falcons look good. What the hell. Instagram is killing t sn iningt and snap, by the way, look at that stock you are what your record says you are, Bill Parcells i feel strongly this whole idea that face aboutbook is a loser zman has basically given you this ring. Im sure hes out there. Hes the one that no way he didnt see this coming theyre annihilating snap. Come on. We all have our own anecdotal versions i bet there were more instagram pictures of people watching the eclipse than there were all year for snap what good does it do the idea is that it goes away really quickly what am i supposed to be selling . Captain morgan no, im not working. Under 21. Snap, our Parent Company owns a stake. Cnn watching their own snap show. Espn has a great snap show. All of these can work. Instagram it wasnt supposed to happen. Instagram was not supposed to just say were going to crush snap by the way, nike wasnt supposed to say were going to crush under armour this is the awakening of giants. Walmart, were not going to take it anymore if youre going to be a supplier to us, we dont want to see you n amazon typically what comes down, by the way, i switched to azure microsoft. That was smart walmart, nike and instagram, these companies facebook. These are companies that are competitors like you wouldnt believe. People dont understand that the ceos are viciously competitive they do not just sit back and say, well, man, we were getting smoked its not like that. Whats taken them so long you say this has all been in the works . Yes Gross Margins were unbelievable. People have written off yesterday facebook was down 2 at one point i was reading the web and it said why facebook is finished and then it finished up. Why facebook is back sheryl sandberg, does she say im done here . And then the next day, im back . A lot of people consider who changes that quickly were in a world where absolutes sell, jim. Amazon does seem to be in a down trend there are a lot of technicians right now. How many time s has it been it then your wife is pressing the tide button. Then you learn you like it more. Everything is existential. It is and those devices. When we come back, ceo of adp was with jim on mad money talking about his proxy fight. Youll hear what Carlos Rodriguez said last night on mad. S p and dow down the governor has declared a Winter Weather emergency. Extreme risk of burst pipes and water damage. Soon, Insurance Companies wont pay for damages. That is, not if they can help prevent damages from happening in the first place. At cognizant, were turning the industry known for processing claims into one focused on prevention with predictive analytics, helping them proactively protect the things that matter most. Get ready, because were helping leading companies see it and see it throughwith digital. Adp ceo Carlos Rodriguez speaking in depth about their proxima proxy fight. Last night on mad money he told jim about a phone conversation he had with ackman. Take a listen to this. I had a conversation with bill right before, you know, we, i guess, agreed to disagree that he was going to launch a proxy contest. I asked him, bill, i know you have a vauks thats getting in the way and why you need an extension of this deadline but when you get back from vacation, why cant we meet then he said im afraid thats not going to work. Thats not the way my business works. I have to have the leverage over the threat of launching a proxy contest in order to get you guys to agree to the things that i want to do with the company. All right so, on the one hand theres this fight about what to do with the company. Right. Then theres just the mechanics of how theyre relating to each other, jim. Yeah. I remember after i to be a little personal, after i got married my wife wanted to go on a honeymoon. I said are you kidding me . Its earning season. Get serious. I felt the honeymoon was maybe his vacation is more involved in mine my wife said absolutely im sorry, i know its the week that more than onethird of the s p reports but clearly this was a wellplanned vacation. Maybe he should have gotten airline insurance. It was galling it was galling one thing i said at one point this mans stock is up 2 twice in the s p sorry you have to defend your life that said, ackman did make some points i felt there are two issues here one which i put under the personal affront, which is that this man, rodriguez, is a serious guy and you should approach him seriously on the other hand there were actual issues about how to raise the margins. Ackman, if he had absolutely said this was my view if he had started out by saying, you know what, look, we have to sit down let me show you what i have. Rodriguez said there were many mistakes, including things involving what ackman called concealing, which is a very hard charge i think it would have been better had it been done, say the way nelson is doing with procter. Obviously they have their own views. Listen, we want you out. It was kind of from left field i totally understand why he would be disconcerted. The fact is that the board said no the presentation had some issues, though. What do you think happens to ackmans ideas, here on out . I think many of them are being done this onpremises issue, i thought, was the most serious. They have not adopted the cloud. I think theyre making that move they seem a little theyre heavy. Ackman is calling it a tech company. They regard it as a service company. Ultimate work service that is actually a tech company but ackman made points i think its not going to be enough given the fact of how well the stock has done. What bearing does all of this have saying that the company is crumby wow, thats not exactly what you want and he does say that theres so many problems at the company that you do start feeling like, wow, why do i own this, especially if ackman cant ackman, okay, lets see. The value didnt work that well. That was not a great thing herbalife was not he needs a vacation o he took one another general growth or another vacation. I hope my wifes not watching shes probably thinking why did we wait six months for that honeymoon . But it was earnings season for heavens sake. The day she wanted to go away. Are you kidding me dow stock. Caterpillar, 3m. Can you imagine . Speaking about how good the 3m quarter. It would have been why your whole life together. It would have been ill advised, yes it would have been ill advised but ackman is right, the timing for his maybe it was the vacation to end all vacations. I dont know we went to prague. Cramers mad dash got some green arrows this morning. 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. Opening bell in six minutes. First lets get to cramers mad dash. Coti Conference Call. Maybe people have stopped with perfume and makeup i dont know because you see, estee lauder had unbelievable numbers these guys are minus 5 they bought unique they should have bought clinique, doing much better. This is a tale of two cities estee lauder shows you how to be a juggernaut unbelievable term. I feel better about procter if they sold it to coty this is a terrible quarter just terrible. I dont understand the Conference Call. But as is often the case they think they had a great quarter. I was going to say, you called it a tale of two cities but the divergence between el and coty here its extraordinary. Fiscal theyre calling it transformational transformational to what this is a clinic about how they have to rethink. This company once there was an avon tieup geez theyre not so good estee lauder is running away from the pack. But hard to draw broad distinctions and consumers appetite. It is hard. Macys, more discounting can in area ulta has been a tough sell china sales were off the charts for estee lauder. Makeup is huge in china. Instagram is that dead now, face book dead of the. Opening bell in four minutes. Whoooo. Youre searching for something. Like the perfect deal. On the perfect hotel. So wouldnt it be perfect if. There was a single site. Where you could find the. Right hotel for you at the best price . There is. Because tripadvisor now compares. Prices from over 200 booking. Sites. To save you up to 30 . On the hotel you want. Trust this birds words. Tripadvisor. The latest reviews. The lowest prices. Youre watching cnbcs squawk on the street. Opening bell busy day as all the four major averages, if you include the russell. But there are some, jim, who says volume has been light hard to draw fat lines this week yeah. Like all the companies that are reporting, people are shocked that theyre good, dsw Toll Brothers reports, i think, a very good quarter and people sell the stock down. Theres a lot of trading that is awry here. I think people ought to just cool it. Theres not that much happening. Stop trading on things where theres nothing to trade on. Medtronic, i didnt think was nearly as bad as the stock is indicating toll, i didnt think was nearly as bad coty, i thought, was worse everybody seems to want to trade on nothing and its so thin theres just not a lot of players. Please remember that big accounts can move stocks a large fund could easily move along almost stock. Volume has been very light. Way below the averages some expected to be quiet. Yelen speaks friday. That does matter. I look whats going on in the medical device and drugs theyre all drifting lower i think theres some value there, especially because the dollar has really given up the ghost. Everyone keeps pronouncing the dollar is about to make a major comeback have you noticed thats been wrong over and over and over again . Theres the opening bell. Big board pga champion billy horschel, celebrating the Northern Trust over at the nasdaq, stainless Steel Company outokumpu. Stainless steel in aerospace. Think about allegheny technol Y Technologies these stocks have been drifting down interesting. Northrope winning this. That was big. Icbm. Any of us that live next door to those nike missile silo, youre always fearful this is what were going back to these are big contracts and people should u