Well take you live to the white house for details. Also Hurricane Harvey gaining strength and speed as it barrels down the gulf coast. Were tracking the storm from the Weather Center and well have the very latest when and where it is expected to make landfall. Cheryl get back what were looking at with regards to the markets. Losses accelerating into the close. Were down 29 points, 21,872 782. Gerri willis standing by on floor of the New York Stock Exchange looking at bigger movers, movers to the downside, gerri. Not a pretty day today with a lot of red on the board. Let me tell you about winners. Cisco and merck doing well up marginally. United technologies big loser. Big name losing today, walmart down. Why . This is a fascinating story. Amazon is going to cut prices on supermarket staples, everything from bananas to beef. Once they buy whole foods they expect to drop those prices and let me tell you the entire sector, supermarket stocks down, kroger, costco, supervalu, target. Take a look at numbers here, all red. On this news amazon is coming after them. Could be a price war ultimately. What theyre going to do is extend the prime membership for online. Big name trading lower right now although started up, sears, had a loss less than expected. Their secondquarter loss on fewer store visits, that is the big headline there. As you know, a lot of their revenues coming now from real estate instead of store sales as customers abandon those stores. That company desperate for improvement. Interesting story on wall street, all retailers all the time. Some simply doing well because their losses are not as bad as investors expected cheryl. The. Effect congressry sector and retail sector. Gerri, thank you very much. David oil snapping a twoday winning streak, dropping 2 . To end at 43. 47 a barrel despite a threat of major Oil Hurricane as Oil Companies evacuate personnel from the platforms in the path of the hurricane. The gulf of mexico is home to 17 of total crude production. Analysts point out greater threat to Refinery Operations than offshore production. That idea is pushing gasoline futures up 2 today. So we cant get a break at the pump. Well have a live update on the path of the storm coming up. Cheryl Hurricane Season kicking into full gear. With regards to the markets, dow falling away from further from record territory amid concerns about President Trumps progrowth agenda and debt ceiling debate. Blich burman blake burman at white house with the latest blake. Reporter Congressional Republicans talk about they have shared goals in relation to the perceived acrimony from the white house up at capitol hill. But the president s ire once again as it relates to republican tactics, leadership results was on again display today, with the latest on debt ceiling with the president tweeting out earlier and the following, i request mitch m, an paul r tie it va legislation to the debt ceiling bill. Now they are could have been so easy. Now, a mess he writes. At the White House Press briefing a little whale ago the White House Press secretary Sarah Sanders said as it relates to the debt ceiling the onus is squarely on congress. Look, it is our job to inform congress of the debt ceiling and their job to raise it and congress and the Previous Administration have obligated trillions in spending and we need to make sure we pay our debts. Were committed to making sure that gets raised. Reporter earlier this today House Speaker paul ryan didnt say anything about the mess related to the debt ceiling when i spoke at a town hall at a boeing plant in the state of washington. This is about paying bills we racked up we pay our debts. We pay our debts in this country. Well continue to do so. Im not going to worry that will get done because it is going to get done. Reporter cheryl, Sarah Sanders gave a twofold defense as it relates to the border wall and funding. President said he would be okay with the government shut down if he doesnt get funding for that wall. Two parts, one, sanders saying this is something he fought for, something he campaigned on, something he will push for and he still wants the funding. Secondly when she was made aware everyone knows mexico says they are not going to pay for the wall, sanders also pointed out at this point, the president doesnt talk about that, she says he hasnt said yet they wont pay for it either. Cheryl they will pay for it eventually what we heard from the president in the past. Blake, thank you very much. A lot going on here. Investors watching a lot of this. Lets bring in todays panel for reaction. Kevin kelly, recon capital and heather zumarriaga. What we saw in Sarah Huckabee sanders a grenade being thrown at basically Mitch Mcconnell and paul ryan. You have got to get the debt ceiling figured out, you have got to get this done but can they, kevin . I think they will. It is important to note this hasnt been priced into the market at all. That is what spooked it over the past few days because investors think that the government will not be held hostage to debt ceiling. All of sudden President Trump signaled that could be a notion. He comes out with a tweet where he could have tied it to the va. You will get a situation where democrats going to work with republicans getting a debt ceiling, talking about possibly some tax issues they want to get resolved. So i dont think it will impact the market. Were within 3 of alltime highs. Cheryl certainly though but if you look at sectors dependent on government operations, defense comes to mind, heather, the second tweet the president said could have been so easy, now a mess. When you have the leader of the free world saying that its a mess that could create some yeah it could. Were seeing volatility increase in the markets. Im keeping an eye on the 10year as a gauge of what the markets will do. I think bond markets are better predictor of the future direction of the markets. The 10year rose a little bit i believe to 2. 19 . So it is not spiking. Im sorry it is not pricing in and spiking if the debt ceiling rise, if we dont rise the debt ceiling, if that doesnt happen, you would see the bond markets, that yield, really sell off and we havent seen that yet. David new questions over the timeline for tax reform. The Republican Leaders of the senate and the house are on slightly different pages today. Take a listen. I think well be able to produce a much better tax code that will make a huge difference for our country and it will be done during this congress. Our goal is to get this done this year in 2017, calendar year 2017. In congress we worked on this all last year in 2016. Hoping to be ready so if we had the opportunity politically to pass this bill, we wouldnt sit there in january on 2017, just starting to work. So weve been working on this for almost two years. David kevin, it was mcconnells phrase, during this congress, that speaking ad lot of us around here and spooked the markets. That may be one reason why the markets ended down, 28 points to the negative. That could mean after the next election. Tax code is convoluted and complex and helds who stan by special interests. Youre starting to see the house and senate on different pages whether it has to do with the border adjustment tax or about all the special interests deductions. The issue we had here, if they wanted to get it done they would have started with that as opposed to health care they would have kickstarted on economy. All of them are on different pages of same book. Whether they can get on the same page does not look likely. Tax reform will not happen. The market is not pricing that in. Tax cuts possibly. David this could upturn entire again today the president or upturn the presidency if republicans end up winning the next election. If we dont have tax cuts this year, that means the economy might get stuck. It might mean that the democrats win the house, which could mean the impeachment of the president. Mitch mcconnell doesnt seem to think these things through. Markets definitely want to see tax reform. We have a little room for markets to run being corporate profits are up 11 last quarter. That is carrying us higher despite legislative gridlock down in d. C. So well see what happens and hopefully we get this done before the end of the year. David lets hope and pray. Kevin, heather, thank you very much. Cheryl. Melissa markets are watching this. Were bracing for harvey, texas, louisiana, in path of major hurricane likes of which we havent seen in 18 years. Were tracking the storm from the Weather Center. David the aclu apologizing for tweeting out seemingly innocent picture of a child. Look at that. What is wrong with this picture . The organization is under fire, first for posting it, then taking it down. Melissa cuteness overload probably. Will the president and majority leader Mitch Mcconnell put their differences aside and Work Together to get the agenda passed . Guy benson from townhall. Com will give us his take. Here is how the white house is responding. Were disappointed obamacare they failed to get it repealed and replaced but at the same time President Trump worked with leader mcconnell to reach out to other members and work on those shared goals. When heartburn hits fight back fast with tums chewy bites. Fast relief in every bite. Crunchy outside. Chewy inside. Tum tum tum tum tums chewy bites. 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. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Youre searching for something. Like hewhoooo. Ers. 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. There seems to be some rack criminal money and republican congressional leadership. How do you repair this relationship going into the fall . I think the relationships are fine. Certainly there will be policy differences but there also a lot of shared goals and thats what were focused on. David White House Press secretary Sarah Sanders defending President Trumps relationship with Republican Leaders of. After the president took aim at senator Mitch Mcconnell on twitter. Guy benson, townhall. Com, Political Editor and fox news contributor. She says the relationships are all fine. I wouldnt go that far, wouldnt go nearly that far. What do you think . Theyre putting out statements, we have shared goals and everything is hunkydory. There might be personal acrimony at play. President is feuding with mcconnell, occasionally feuding with paul ryan, ultimately the reality, david, i mentioned on bret baiers show, they do need each other. They do have shared goals. They do want to replace repeal and replace obamacare. David timing is something they dont share. We heard from mcconnell say he could wait until next year. After which he could wait until after the election before he get as tax cut. You know what that means . There will be no effect in the economy from a tax cut until after the election. Republicans could lose that election as a result. Paul ryan show has said on the other side of this he argued that just in the last couple days actually that it has to be this year. David right. Look, i think mcconnell, if you hate him he is savvy political operator. David he wouldnt on health care. Worked very hard. David he didnt do it. Only close in horseshoes. John mccain and Lisa Murkowski voted no. He cant force them to do anything. The point i was making, mcconnell recognizes for his own members up for reelection, if they have goose eggs when it comes to political, legislative accomplishments ahead of elections, that is not a good look. He knows that. David right. On policy and politics it is in everyones interests on the republican side to get taxes done. Guy, why then, did we get this piece in the New York Times yesterday . It is called, mcconnell doubts if trump can save presidency . Obviously from the mcconnell camp, if not directly from mcconnell and it was a direct hit on the president. I will just quote a couple lines. Mr. Mcconnell, from the New York Times piece, has mused whether mr. Trump will be in a position to lead the republican in the next years elections and beyond. Next one is really a killer, mr. Mcconnell signaled to Business Leaders that he was deeply uncomfortable with mr. Trumps comments about charlottesville. Now as we know, the Business Leaders pulled out of some Economic Councils in the white house. That was a significant hit in the president s agenda, at least pushing tax cuts with the business community. Mcconnells is kind of taking credit for it. I think you will have a bunch of republicans who are uncomfortable with senator, or what President Trump said at times about charlottesville. But, are you surprised, david, to see the New York Times pitting republicans against each other . David not at all but you would think that mcconnell has been around long enough, he would know that is what they are trying to do. Yeah, this is what they do. Mcconnell is the establishment. He is conservative but establishment d. C. Guy. He is one wing of this party. Donald trump is very different wing of this party but ultimately without one another, theyre going to accomplish nothing. They will selfdeinstructed together. David i understand. Here is what worries me, guy, ryan is on board with getting tax cuts this year. Im applauding that. Im all for that. That is a great thing. Ryan won the Health Care Battle in the house. Yeah. David Mitch Mcconnell lost the Health Care Battle in the senate. He is not for having tax cuts this year. So there seems to be no, he is. He is. David he said this congress. He didnt say this year. I want to say him this year. This congress would mean, probably, definitely before the elections, right . David no. It could be, by the way, it could mean after the next election. Well, no. Not with this congress. It could be in the lameduck session but that doesnt make any sense t makes to sense campus into the elections, you and i agree on this, come into the elections with accomplishment waving it in front of voters look what weve done. David accomplishment happens this year, otherwise it wont have effect on economy until next year. I agree. It should be done as soon as possible. I think there are differences between the house and senate in terms of rules, in terms of vote margins. Mcconnell is playing with a twovote majority with couple squishy moderates in there and couple hardcore righties. Paul ryan has lot more votes to play in the house where majority rules. He has easier job wrangling votes than mcconnell does. If you dont like mcconnell way he is doing his job, ask any republican senator who they would rather have leaders, you get blank stares. They recognize from tactician standpoint. Mcconnell is good at his job. David like mayor of new york. Not many republicans running against him. Zero. Cheryl good analogy. Well harvey is heading for texas. A lifethreatening hurricane is gaining strength as it makes its way towards the gulf coast. Fox news chief meteorologist Rick Reichmuth in the Weather Center with the latest. Rick, this looks likely a really bad storm. Frankly first major hurricane to make landfall on the coast anywhere. We thought it would probably go a little farther toward the south a number of days ago. Now that it is back here in the western gulf, went through the bay of campeche, all conditions are ripe for continued strengthened. We just had a Tropical Storm yesterday. Now we have a category one hurricane. The forecast calls for continued intensification of this. Hurricane warnings where you seed red, Tropical Storm warnings where you see the yellow. Comes on shore at 125 mileanhour category 3 storm, the wind doesnt end at the coast. Well see Hurricane Force wind well inland. That is wind side. It will drive a lost storm surge along the coast here. Were talking about days and days of rain. Storm will get blocked here, when you look at models it comes towards the texas coast, it gets stuck. It drift notice ar