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Message from House Speaker paul ryan during his press conference. Also ways and means kevin brady said he is not discouraged and is moving, quote, full speed ahead on tax reform but the problem here is that health care and tax reform are connected by the complicated math of the federal budget. Ryan and brady have both pledged that tax reform will be revenue neutral. That means it will not change how much money is flowing into feder federal coiffuers. Theyll bring in 31 trillion over the next decade. Repealing obamacare would have reduced numbers. You dont have to raise new taxes to make up the...

Numbers under current law the Budget Office estimates the government will bring in 41 trillion over the next decade but repealing obama care would have reduced numbers. You dont have to raise new taxes to make up the difference. That was basically a freebie. Now thats a very different conversation than tax reform. To keep it revenue neutral theyll have to offset any tax cuts with tax increases somewhere else. Its much easier to do that if you are trying to hit a goal of 40 trillion instead of 41 trillion. Nobody likes to be a piggy bank. Ylan, thank you. In d. C. Mike, do you think that tax re...

Happy monday. Im melissa lee. The dow was down about 184 points at session lows. The nasdaq has turned positive thanks to strength from biotech names like regeneron. The worst performing sector, down by half a percent. Well have much more on the bank selloff straight ahead. Here is what else is happening this hour. Some news you heard exclusively here on cnbc, sources telling us bill gross has settle his lawsuit against his former employer pimco between 75 million and 100 million. The number around 81 million. Gross filed the original 200 million lawsuit back in 2015. His dismissal from pimco ...

Overall. You can see germanys dax regaining some of the losses, france is the only major indices in the red right now. The tenyear note yield very important, one of the reasons why the financials have performed so poorly and there is that yield, down just a bit, 2. 362, although this is right around where we were yesterday. As for oil, up and up rather nicely. And the latest s p case shiller home prices report, prices up 5. 9 in january compared to a yearni year ago, faster than the 5. 6 economists had been predicting. As for the road map, ford expected to announce significant new u. S. Manufa...

All right, thanks, melissa. As you can see behind me stocks are back in rally mode after the highest Consumer Confidence reading since december of the year 2000. The dow aiming to avoid its first nineday streak with the big movies that year, 1978. Why pimto . Why not . The s p 500 trying to dodge an eighth loss in nine sessions. Check out the big movers, carnival cruise, it tesla rallying 3 , chinese internet buying 5 of tesla, and spice maker mccormick down about 2 after a mixed quarter for the company. Tyler, i speak for everybody when i say remain calm, all is well. All is well, brian. Than...