Its up now. After whatever that was yesterday and whatever that was this morning, its a new whatever and its better. Lets get to it. And a live look at the white house where we expect the press secretary Sarah Sanders to take to the podium in 14 minutes. Were waiting to hear whether President Trump will allow the democrats release on the russia investigation. The white house says it will go through the same process the gop memo went through. The House Committee voted unanimously to let the democrats release their memo. The House Intelligence Committees top democrat adam schiff of california says hes worried that. Trump could black out large sections of the thing. We also want to make sure any redactions are made are fully explained to the committee. We want to make sure the white house does not redact our memo for political purposes and obviously thats a deep concern. Shepard these memos are not only a distraction but a back and forth for both parties in washington. One source tells john roberts the democrats purposely filled their memo with information about sources and methods in order to force the president to block the release or make major edits. Justice Department Officials tell fox news that they reviewed the document before last nights vote and didnt make any edits or redactions. So who knows . Staffers for House Intelligence Committee chairman, the republican devin nunes of california wrote the gop document. Hes a supporter of President Trump and served on his Transition Team and he had the late night thing there at the white house. The republican memo accuses the feds of abusing their powers to spy on the former Trump Campaign adviser, carter page. Democrats say their memo disputes some of those claims. They say republicans distorted information and hopes that americans will be less likely to trust the Justice Departments investigation. Robert mueller looking to moscows meddling in the 2016 president ial election, possible collusion with members of Trumps Campaign and whether the president obstructed justice. Its our understanding he doesnt watch cable news or read memos. President trump has denied the claims. John roberts is live on the north lawn. Hello, john. Shep, good afternoon to you. We came out of the cabinet room. Chief of staff john kelly was there. He said the president has the new democratic memo. Hes not had an opportunity to read it yet. Kelly handed him the memo before he went into the lengthy meeting in the cabinet room on ms13. The white house says the democratic memo will go through is same process as the republican memo went through. The National Security council will review it and brew in the director of the National Intelligence and the fbi and doj to get opinions on whether it should be released. Im told by sources that have seen the memo that it goes much more to sources and mets than the republican memo did. Theres some people that think that that was intentional. Adam schiff is looking nor the white house to make changes and shifts as warning against political redactions. Im told by sources here at the white house that there is material in that memo that will likely need redacting. The end of the day, shep, the white house wants to get this out, wants to show that it can be fair whether its the republican memo or the democratic memo. But its likely that the democrats may be able to claim a moral victory when their or a political morale victory when their memo is released because its likely there will be substantial changes made to the memo before its given to the public for consumption. Shepard one side license to their side and the other side listens to their side. This is a bunch of nothing, isnt it, john . I cant say that for sure, shep. We report. You decide. Shepard the chief of staff john kelly said the president will not extend the deadline for the dreamers, right . He did say that, which runs counter to some things the president said, which well get to in just a second. First of all, a headline out of that ms13 meeting. The president was asked by Steve Holland from reuters whether he would shut down the government because the president mentioned that earlier, that if he couldnt get the Immigration Reforms he was looking for, he would go for a government shut down. The government is scheduled to run out of money thursday at midnight. Listen to what the president said. These are incredible professionals cannot do the job unless we change the legislation. Were going to get it done. Ill go a step further. If we dont change the legislation, if we dont get rid of the loop holes where killers are allowed to come into our country and continue to kill, and were talking ms13 and other gang members, if we dont change it, lets have a shut down. Well do a shut down. That wasnt the question. That was the question that prompted the question. Its a quick turn around here. We cant get everything. But the interesting thing about that, shep, im not sure what the president is talking about. The government runs out of money thursday at midnight. Theres talks underway at capitol hill for another continuing resolution. Nobody is talking about attaching daca on Immigration Reform to the continuing resolution. That may come in a budget cap fight later. In terms of a government shut down right now, nobody is talking about that. Now, to the issue of extending the deadline. John kelly said the president is not likely to extend the march 5 deadline where the protection for the socalled dreamers runs out. Listen to what he said in davos, switzerland in a cnbc interview. Were growing to do what is right and solve the daca problem. I want to get the Problem Solved correctly. If we need more time, well take more time. The president said something similar in an offcamera gaggle just before that. He said yeah, i might do that. I might do that. In terms of extending the deadline. Im not guaranteeing it because i want to put a little bit of pressure on the other side, sounds like, but i certainly have the right to do that if i want. So the president said twice that he might extend the deadline. John kelly said hes not inclined to do it. Well see where that goes. A little under a month now. Back to where were talking about the shut down. Chuck schumer was on capitol hill speaking to cameras just as the president said what he said about a potential shut down. Schumer saying speaks for itself. We had one trump shut down. Nobody wants another. Again, shep, nobody is talking about a shut down and nobody is talking about attaching daca to the c. R. Im puzzled to what that is about. Shepard the president is, theres that. John roberts, thank you. Look at the tv. Look at this. The dow is up 500 points. How . Why . I dont have any idea. I do know this morning, got up at like 5 30 because the overnight markets and you knew everything was crazy and footsy and everything. Wow, look, look. Got up at 5 30, the world was collapsing. Theyre like we dont know whats going to open. The fox business people, were going to be down 600, 700 people. It opened and way down. Hundreds and hundreds of points. You know what you can count on right now . Count on volatility. Thats one thing. Count on this. If yours is a short term strategy, thats not good. You need a longterm strategy. Heres the thing by way of observation, not critique. The regular guys, regular folks have been on the sidelines with this market this whole runup the last couple years or few years. Has largely been institutions, right . Not every day folks. You know when they got in, according to the people on wall street, they got in in january, this january. So like a month ago. And they rode it up and yesterday and last week well, its going up. Markets go down and markets go up. We made a big deal out of them going down yesterday because they went down the most of any day in the history. Today its up 484 points. Meantime, alaina is here from axios. The democrats are saying oh, government shut down. If you believed it was the schumer shut down, that didnt work out well. Republicans are like oh, no shut down. And then the trump shut down. That didnt work out well. One person talking about the shut down. Thats the president. Why is that . You know . Its pretty puzzling. Nobody was expecting talk of shut down to happen. Thursday is the deadline for the new spending bill. Last time the government shut down, schumer and mcconnell agreed that if it wasnt attached to this february 8 deadline, they would move on to it later in the month. Thats what everybody is expecting this time. For trump to say that is an issue that he thinks its worth shutting the government down over. Most people were surprised by those comments. Shepard been to new orleans . Yes. Shepard they have duelling pianos. Theres one on either side there. Everybody has a great time and yells and talking about hating lsu and loving ole miss. We have duelling memos. People like one memo and then theres another memo. What is happening now with this memo . Depends on who you ask. What is it with this democraticstyle memo . Well, the democrats argue that this is their rebuttal to the republican memo from last week. They think that shepard they dont think republicans will listen to them . Republicans listened last week. Thats what they might be saying. I mean, as you heard, the white house has said yesterday that they will handle this democratic memo the same way that they handled the nunes memo. If that is the case shepard wait. The president said on the night of the state of the union, 100 were going to release the memo. At that point yes, he would release it without reading it. Thats not exactly the case this time. This time hes got five days since the house voted yesterday to release the memo. So trump has enough days to approve it. During that time, he has to read it, go through it. Theres National Security and white House Counsel that need to review it. The key question here is whether more so not really whether he will release it, which is a question, but the bigger question is whether how much theyll redact it. Shepard if they make redactions, democrats said you made redactions to change the point and republicans will say, no, National Security and well move forward and everybody will yell at each other. Lets cut through it all and go back to the original memo. For those that wrote it, what was its real purpose . That purpose was to show that what they believed were massive abuses by the fbi shepard what was the real purpose . You can tell the truth. Thats what theyre saying. What others are saying, from what were hearing, a lot of people think might be a way to discredit the fbi and the department of justice in the russia investigation that mueller is conducting. Trump said saturday that the memo completely vindicates him. As i said, nunes, republicans, theyre going to argue this is exposing a lot of mismanagement within the fbi as well as within the department of justice. Shepard alayna im here. Shepard thank you. Good to see you. Have a wonderful turn around tuesday. You watching this . I have been. Shepard the markets are crazy. Weve had a 1,000 point turn around. At 9 30, when the markets open here in tiny town, you can see the far left side. The stalactite there, just terrible. Today we have a stalagmite on the righthand. Almost almost 500 points. You hang on a minute, it will change. Theres volatility in the market. I know it hasnt been this way for a long time. The markets are calm. Now theyre volatile. The market, so it goes. Thats happening. Theyre bringing in more cables for the briefing, obviously. Sarah sanders is scheduled to be up there presently. So were going to take a commercial break so we dont miss it. If she comes out during the commercial. Well interrupt the commercial. So there. I couldnt sleep and get up in time. Then i found aleve pm. Aleve pm is the only one to combine a safe sleep aid plus the 12 hour pain relieving strength of aleve. Im back. Aleve pm for a better am. Replace the full value of your totaled new car. The guy says, you picked the wrong insurance plan. No, i picked the wrong insurance company. With new car replacement™, well replace the full value of your car plus depreciation. Liberty mutual insurance. Morning on the beach until. It. Wasnt. Dont let type 2 diabetes get between you and your heart. Because your risk of heart attack or stroke is up to four times greater. But there are steps you can take to lower your cardiovascular risk. Talk to your Health Care Provider today about diabetic heart disease. And find out more at heartoftype2. Com. Your heart and type 2 diabetes. Make the connection. Shepard well, an amtrak spokesperson is talking a again after one of its trains broke in half this morning while travelling from washington through new york and boston. See that . Havita grace is the name of the town east of baltimore. Amtrak said there was a mechanical issue. There was. When a train breaks in half, its a mechanical issue. What if somebody was between the cars . About 50 people were on board. They transferred to another train. Just this weekend, two amtrak workers died when their train collided with a freight train. More than 100 others hurt. Investigators say theyre looking into both incidents and others. Stocks all over the map today. One day after the dow had its biggest ever point drop. You can see what is happening here with the points. We were up 500 a minute ago. Now up 400. Between then and now weve been up 350. The percentage is what matters. Flip this around. Kind of show what happened at the beginning of today. During this period before the markets open, they screamed everything was messed up in europe and asia and the markets were down, down. They predicted we would open down. They figured volatility. Sure enough, for current times, theres been an enormous amount of volatilitvolatility. You can see how its gone from green to red, green to red. Plunged about 550 points this morning. Within a half an hour, it recovered a few hundred points. So its just been all over the place. That volatility is where the traders make money. So for them, this is great. Its a little after a couple years of its weirding. Youre dressed in black. Yeah, im dressed in black because im outside most of the day and its cold out there. The beginning of this day as you pointed out, we started 570 points down. Turned to 300 on the upside. You know how long that took . 25 minutes. 25 minutes. Shepard yeah. We just this is so bizarre. Even for Something Like me that loves to watch the markets, thats just strange and unnerving. Shepard it is. So now were up. We were up earlier 500. Now 364. The bots have taken over. I just want to tell you, inside the day, weve had like a 960point swing. 1,000 point swing. What is going on here that people are not used to. Were at such high levels, any decent size move looks massive. Were still at 24,000 and change. Those moves look big compared to what were used to. Shepard read a lot of stuff today. Seems like one of the things that almost all of the smart people agree on is, money is not going to be chief like it used to be. This afternoon, you worry about youre in the market, talking to traders, experts, pros. Inflation is one of the big things. We have a few fed chief. We thought we knew what he would be around. Maybe we got it wrong. Maybe the first day on the job, decide we have to knock this inflation rate down. Shepard what we just saw, wages were everybody. Thats what everybody has wa wanted. They worry about inflation, rising prices. I want to tell you, i talked to some folks, real human beings in the street. We do that occasionally, not experts to see what they thought about this thinking that they would be like some of the screaming hysterics on tv. Thats not what we heard. Listen to this. Big declines but weve had big decreases. Typically when you have fast big declines, its not a sign of the markets are growing to be bad for a long time. Its a short term correction. Hasnt happened in a long time. Its early to say exactly what it means. We have to wait around and sort of see when the markets stabilize. It was coming. We knew it was coming. Just starting to happen now i i think the market will rebound. How smart are these people . Shepard well find out. I think theyre like theyre super informed. I was really impressed at the state of the play on the street. They seemed to be ahead of us. I thought that was cool. Shepard remain calm and carry on. Calm and carry on and maybe youll find something you can buy if it goes down again. Shepard two big things coming up. Sarah sanders is going to come out and talk to the press. Thats what the the white house says. We believe them. In addition, its not a little rocket but a big rocket. Big rocket scheduled to blast off. Well watch that too. Hang on. People would stare. Psoriasis does that. It was tough getting out there on stage. I wanted to be clear. I wanted it to last. So i kept on fighting. I found something that worked. And keeps on working. Now . They see me. See me. 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Lets bring in analysts. How are you . Im great. Now im better. Shepard volatility. The vix changed. Wages went up and everybody freaked out, i guess. Right. Its a chain reaction. When you see wages go up, you set off this reaction that people think inflation isnt going to go up because people are spending more. Inflation goes up, the Interest Rates go up and that will spell bad things for the economy. The bottom line is, inflation in doses have like carbs. In doses its fine.