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Remember, we actually hit the debt ceiling back in may, treasurys been using extraordinary measures to extend it to this point. The bill would also require a bipartisan budget negotiation, and House Speaker john boehner says hes ready to start negotiating. Its time for leadership. Its time for these negotiations and this conversation to begin, and i would hope that the president would look at this as an opportunity. Reporter as for whether the white house will accept the republican plan, White House Press secretary jay carney indicated the president would. Sort of. If they continue to talk about ifs and butst as the speaker said doesnt get us anywhere. We havent seen anything from the House Republicans yet. Reporter so on budget talks, weve been there before. Democrats want tax increases, republicans want entitlement cuts. Neither has shown a willingness to compromise all that much. Cheryl . Cheryl all right, rich. Well, the white house is going to see their plan later on this afternoon, so well get more details then, thank you very much. Of course, hes going to be busy throughout the evening for us. For the latest market reaction, lets get to our floor show. Traders at the new york stock exchange, the cme group and, of course, the nymex. First to ben willis at the new york stock exchange, ben, you know, i dont think until today we really, truly saw how sensitive, how volatile the market is when it comes to the debt ceiling debate. But we are hopeful what happens tomorrow if this does not work out between the president and the republicans, ben . It wont be pretty. But this is a great example, youre going to want to save this in your files for an example of how markets trade on rumors. Weve moved 200plus points in the Dow Jones Industrial average on a rumor that the government is going to finally do the job that we sent them there to do. Its kind of a quasivoting booth, if you will. Were sending a very clear message to the elected officials in washington that this is what we fully expect you to do, and if you dont, you can expect what we have been doing in the days prior to this rumor. Cheryl well, you know, ben, our correspondent in washington, rich edson, who was just on with me, hes the one that broke the fact that there was going to be in this proposal from the republicans, the six week extension. Right. Cheryl but in my mind, that means six more weeks of shortterm fix to a longerterm problem that really has not been solved. You still have two parties, frankly, at war then. You do, and thats not going to go away anytime soon because weve only extended this to november 22nd and actually made the next negotiations even harder in the whole discussion. Volatility should be something that you should expect as an investor in this market. Were up close to 20 on the year on most of the major indices that we track here on fox business. That being said, when you get into this late in the game, expect volatility. 100point moves in the dow should be probably a daily event as we go forward if not triggered because of whats going on in the debt debate, it will happen because of the tapering debate that im sure will come back to center stage once this subject is put aside. Cheryl lets talk about whats going to happen with the dollar, ira epstein over at the cme, thats the big question as we move into the next fmoc meeting, and were going to get the minutes and that tapering, you know, the dollar has been weakened by this, maybe not so much right now, but the dollar is probably likely going to have more pressure on it as we go through the rest of the month of october, correct . Why are we limiting it to october . With the damage thats already been done, why not just say were going to get through the christmas season. Why would we give a Christmas Gift of tapering and wait until january, let the dust settle from this . Today the unemployment claims went up 15,000. Theres still a glitch, apparently, in california where 30,000 are known, but thats nothing. Youre going to add another 1530,000 on these furloughs to it right away. Weve got to get through this. I dont think the American Public is going to get a tapering Christmas Gift. I think theyre going to get a nontapering gift, and i think what happens with the dollar, you get a bit of a rally maybe initially off the good news3 coming out of congress and the president and then after that i think the dollar is going down again. Cherrl well, yeah. It doesnt have interest rates. Cheryl ira, thats likely, and weve heard that it may be after the first of the year, and thats likely going to fall on the shoulders of janet yellen whos now the new nomination for the fed chairmanship. I want to go to Jeffrey Grossman at the nymex and pick up on that samish sure same issue of tapering and the fed. Obviously, with oil were down about 103 right now today, do you think we see more pressure on oil prices not just because of the dollar but also seasonal effects on oil . Oh, without question. The truth of the matter is today was a classic case of we were the followers unfortunately. The stock market showed some resilience, and we went up accordingly. We had a market that was testing the lows right around 101. 50 area and teetering at that point because, again, we had a very, very weak inventory figure yesterday and truthfully, the market still is under tremendous pressure here. Its still going to sale on rallies. Today it got a little bit of a lift on like we said before, a bit of a rumor and speculation that things are going to get straightened out here. But again, we have a market that is not showing anything great. It was a little bit of a bounce. Its still in a down trend here, and heres one of the only positives you can look at, gasoline which has been pounded for the last week and a half showed some resilience. In fact, the hawk values, gasoline against crude oil, has bounced back a bit. So again, what i said a couple weeks ago about everyone getting that tencent gift at the pumps over the last week came to fruition, but i think that may have ended. So were probably going to level off here on gasoline, and thats probably what concerns the consumer the most. Cheryl well take that. Gentlemen, good floor show today. A busy market day but also a busy day for Business News and especially when it comes to wireless wars, big news breaking. Tmobile is at it again. Theyre shaking up the cell phone industry. And anyone who travels overseas, listen up to what is going on. Joining me now is john ledger, he is tmobile usas ceo and president. And you are making a big move with a big offer. Youre basically killing overseas. Cheryl, first of all, i want everyone to know what a pro you are. While you were paying attention i was taking pictures and tweeting them out, but you went straight ahead. [laughter] cheryl part of the job description, but your job is to take tmobile and basically kill the competition. My job is to talk to people like you with that at t phone and make sure you realize that wwat were about is soing pain points. Solving pain points. Weve solved the number with no contracts and anytime upgrade and the big one is the fear that everybody has about crossing a border and facing the bill shock of overages and restrictions. What weve offered now to our customers is in 115 countries Free International data roaming and texting, and 20 cents a moment for voice calls. That compares to you, if you dont have a plan with at t thats special, if you go over the border to canada and just use your phone one day, 30 calls, 30 texts, 1200. Cheryl i certainly understand your thinking here. What im curious about, though, one of the big problems for all the carriers has been all the Different Networks that are in Different Countries whether its cdma or gsm, things like that, has that evened out . Are things more level as far as playing fields from country to country . I would think that might be a cost issue for you. Well, two things. First of all, we have roaming agreements all around the world, so this is not an issue of special roaming. Most smartphones are quad band which means you can use them seamlessly. The issue is that 40 of the 55 million trips that take place, people turn their phone off before they leave. Heres my favorite stat, 20 say they would if they knew how. [laughter] heres the last piece ill tell you about this, cheryl, which is about caal it three or four multiple billions of revenues in these restrictions. The Gross Margins that carriers are making on this is conservatively 90 . So, you know, getting this revenue stream down is not a big deal. Its just stopping the crazy way people cheryl youre taking a shot at verizon, at at t. Obviously, you want to dominate, and it looks like actually losis in the last couple of quarters. So potentially theyre going to tmobile, thinking they are. Well, news flash, since we announced on carrier phase one since, you know, call it april we have added more phone customers than verizon, sprint and at t combined. So this revolution i call it around, its really catching on. And i think its going to be a tipping point. Cheryl also your stock, we should say, is up about 98 year to date, so investors are embracing you. Let me and you this because its all about investors and who owns your stock, are you worried about Profit Margins . What if the competition doesnt bite . They say were sticking with our cash cow of overseas . Beautiful. In fact, you know, the biggest way of solving a problem is you have to acknowledge they have it. So as long as these guys keep their head in the sand, beautiful. Ive only got about 12 or 14 market share, so the longer they wait as we migrate customers over, two other things have happened that are key. I also announced Stateside International talk and text. 10, you can call land lines in 70 countries for free. And lastly what should scare them, we announced yesterday that our nationwide lte network is now 202 million pops, and speed testing faster than verizon, faster than sprint and in 10 of 20 cities faster than the one thats on your phone. Cheryl i was going to ask you about data, but you answered my question. Theres a couple things i want to ask you about, first of all, blackberry. This is a partnership. Youre intertwined with blackberry, obviously. Sec filing showing us the founder of the Company Wants to make a bid for the company. Im curious what you think about that. Right. And i know him very well, hes a brilliant, brilliant guy, and i think hes doing his best with blackberry. We need multiple alternative players. There is still a cult following of people with blackberries, especially in the business market. So theres a place for them. Im not privy to the bidding for the company, but, you know, wed like to see we have a Good Partnership with them, we have a Good Partnership with nokia and now microsofttand, of course, you know, you can tell what im carrying around my c phone cheryl i see. Including this watch im using to take photos. Cheryl im with you. We are Kindred Spirits and, obviously, were going to be watching. And, again, we should say, you know, customers are going overr3 to tmobile, so were going to follow this very closely. Im going to come back, and were going to hold up your tmobile phone. [laughter] cheryl oh, all right. Well, well see. John ledger, ceo tmobile usa. Thank you very much for coming in. Well, closing bell going to be ringing in 49 minutes. So heres another story weve been following, twitter. Whats going inside twitter ahead of the ipo . Turns out not all the founders were on the same page ii its early years. Were going to find out whether twitter still has a dysfunctional startup culture. And how about an oldfashioned candy crush love this story hershey launching its first new candy brand in 30 years. Were going to have a little taste test. Well be right back. Cheryl so some curious details emerged from twitters ipo filing. Looks like the companys two founders, Evan Williams and jack dorsey, werent exactly following each other. Twitters s1 filing that dorsey transferred control of his stake in the company to williams, so why would twitters mastermind ever agree to Something Like that . Lets bring in our panel. Joining me is colleen taylor, tech crunch reporter. Colleen, thats the question, why would he make a move like this . Why give up control just as the company that he founded is going public . Why would he do this . Well, jack dorsey was very important in the founding of twitter, but there have been some revelations recently that jack dorsey isnt the only person who came up with this idea. There are some other people who are now coming forward claiming that they contributed some key code and also even the idea itself. Theres a man named noah with glass who was there at the early days. So i think with all of this controversy around the initial founding days and the initial founding idea, jack dorsey might have thought, you know, im going to step back a little bit at least at this moment. He still has a stake thats worth hundreds of millions of dollars, and so hell do just fine. But maybe right now with the controversy its time for him to take a step back. Cheryl well, what doessthat mean, though, for the company as well . Jack dorsey, i mean, hes, again, a big stake in the company, maybe not as williams, but at the same time, you know, pete, his name, the association of the name and this infighting, do you think thats going to affecting you know, the ipo . Are people going to be concerned about this . You never want to see that when youre buying shares of a company. I think its been pretty clear, twitters ride has not been super smooth. I dont think the infighting is going to surprise a lot of people. Its kind of how these startups work, and this is one that just happened to be very successful. As far as him giving up his Voting Rights, i think he kind of had no choice. I mean, Evan Williams apparently was funding twitter for its first year more or less out of his own pocket, and as the operations were going on, he was kind of having a lot of control and a lot of slate on the board. I think at one point when he realized jack dorsey wasnt being an effective ceo in 2008, he was basically forced out. Cheryl well, colleen, maybe he wasnt being an effective ceo, and we saw this through the evolution of yahoo over the last two decades, that maybe the person that found it with dorsey creating the tweet, etc. , maybe that person isnt the right leader, is that maybe the thing thats affecting the relationships now within the company . You know, pete made a really great point, and hes exactly right that every startup when you get inside of it is a mess, especially in its earliest days. And so this is a big news story right now, but its nothing thats too unusual. Its also important to mention that jack dorsey has a different fulltime job. Hes the ceo of a startup called square which has raised millions, hundreds of millions of dollars and has a big opportunity ahead of it. And so for him to focus more completely on square, again, hes still going to stand to make hundreds of millions of dollars here, so the Voting Rights might not be as important to him. Its probably smart to step back and allow other people to control things. Cheryl you two are the tech experts, i am not, so i want to ask pete, first, to you your deal with comcast and this link thats going on between twitter and comcast and anybody thats got the television service, basically, twitter and your television are now more connected. Is this a, is the Technology Solid and, b, is this a good thing for twitter, can they make money off of this, more importantly . El, the second point well, the second point is the most important one. For its viewers, its user base whether or not it works is most important. They havent deployed it yet, so were going to have to see, but apparently the idea is you press one button from a tweet and you can actually see a Television Show that the tweet is about or a movie. Its a great idea. I mean, twitter is a very natural Second Screen app, so like, basically, you know, when the final episode of Something Like breaking bad happens or some big tv show is going on, people naturally flock to twitter. So generating advertising revenue is a nobrainer, this seems like a good step. Cheryl colleen, yes or no on this comcast twitter relationship . Yes. I think that as pete mentioned, Second Screen is what its all about these days. I bet most of the people watching this program arent only focused on the television, they probably have a laptop in their laps or a mobile phone in their hands, so this is a Natural Partnership and, hopefully, it makes them some money because twitter is not profitable yet. Cheryl i could make a joke was im on because im on my laptop. Colleen, pete, thank you very much. It happens. Guys, thank you very much. My pleasure. Cheryl all right. Well, it is time to trade the trends. Here is a look at the companies trending on twitter right now,3 and this is according to stock twit. Youve got to follow that, by the way. Take a look at the companies that are trending right now. These are the tickers, and stock twit puts it out like a dollar sign, micron, google and microsoft are the three names they are watching right now. Dont forget to follow this show, fbn countdown, and theres also an cheryl can casone somewhere in there. 49 minutes to go until the closing bell, and dramatic new developments in the battle over blackberrys future today. Were talking to ledger about it a moment ago. The very latest on what could be a gamechanging proposal from one of the companys founders. Also, House Republican leaders are heading to the white house this afternoon with a new proposal to break the debt ceiling deadlock. But will it do anything to end the gridlock in washington . Were going to get the views from former paypal ceo bill harris. This is a fox business exclusive, and its coming up. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks ancapture opportities. Enable you to reach glal markets and drive forward with broader possibilities. Cme group how the world advances. Your Financial Advisor should focus on your longtergoals, notheir shortterm agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. If youelieve in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do face time and think time make a differenc join us. [ male announcer ] at edward jones, its how we make sense of invesesting. Cheryl just a few moments ago i want tw you what happened on the dow. Look at this, were up 300 points on the dow. We are now, believe it or not, 13 points away from session highs. It was at 15,113, actually less than that, we were pushing right on your screen, almost at session highs for the dow. Also i want to mention courtesy of Lauren Simonetti, she was looking at the s p 500, only 11 stocks like literally two minutes ago were in the red. Everything for the most part, though, the s p 500 in the green. So were having a heck of a day right now. All of this on the belief, the belief that we are actually going to get a deal in washington. And, you know, House Republicans did propose a deal today that would extend the debt ceiling for six weeks, but in return republicans want the president to begin discussions on longerterm budget issues. With no deal on the table yet, theres going to be one we think later today, what do ceos want to hear coming out of washington . Lets bring in ceo of personal capital and former ceo, of course, of pais pga and intuit, you are a wonderful person to have on, sir. I am curious of what you make of this in washington. What are ceos saying . What do you want to say out of the republicans and the president today . Well, i thinn the thing that we most want to see is the to the brinksmanship. Weve got, you know, if youre trying to run a business, the enemy is uncertainty. It makes it difficult to invest, to grow and to create jobs. And so what wed really like is a more rational process for the government to do its business so we can do ours. Cheryl but six weeks, i mean, thats, i think, the concern here. Six weeks is a temporary fix and what it seems to me the businesses wanted a little more certainty, i know investors want that. What if they agree to just a six week extension, do you think were still going to have volatility in the markets . Oh, sure. Because just as you say, six weeks particularly for the kinds of issues that need to be discussed, longterm budget issues, prioritization of resources, potentially tax changes these things are complex and will take potentially quite a long time. Six weeks is not a long time for this kind of, this kind of activity. The other thing about it is i would make a strong distinction between Government Shutdown or partial Government Shutdown on the one hand and the debt ceiling on the other. If we shut down the government for a while, it might be pointless. Were probably paying the people anyway back pay when they come back, so were paying but not getting the services, but what were doing is shooting ourselves in the foot. If we tamper with the United States governments willingness to honor its obligations, to essentially pay its bills, i think were shooting ourselves and our economy in the head. Cheryl all right. Well or the foot or something. Im sure all of these analogies are correct. At the same time, you know, business does go on on, and businesses are trying to go on, do their best. Were now into earnings season, thats kicking off this weekend. I do want to ask you about ebay. They just bought brain tree, and im curious what you make of this deal. This was your backyard, what do you make of the ebay teal . I think its a great deal. It will do good things for that combination. I also think theres probably more consolidation to come. And the biggest reason is that in the world of payments size is very important. Not only because there are scale economies, but also because there are network effects. You want, if you want to pay someone with, you want to go to the network where its more likely that you can pay that person and everyone else you want to pay. And so the size has, has obvious advantages. Its one of the reason why on the offline Payment World which still remains 90 of the total you have, essentially, three players, visa, mastercard and american express. Cheryl there is growth there, and i find this astounding not just because this is transactions for the consumer, but also a potential advertising revenue stream for many companies. 235 billion in 2013, but theyre saying 450 Million People will be doing online payments by 2017. I mean, it seems to me that this is about to explode and be a lot more than that 90 10 ratio youre talking about, bill. Absolutely right. And its very early in the game. Already its big business, but its still very early in the game. And so, first of all, online payments wwll continue on their toward path. But secondly, more and more mobile solutions for offline payments will make their way essentially replacing so you can have a phone in your hand as opposed to a credit card in your hand. Cheryl well, bill harris, certainly this is a great day to have you on, youre a perfect voice for this, former ceo of thank you. Thank you. Cheryl well, you know, staying on this tech theme today, youve got bidding wars for the broken Blackberry Company taking a dramatic new turn today as one of the founders boosts his stake and considers a bid. Adam shapiros on that story in the newsroom, and i had john ledger on earlier, adam, and he was, well, Thurston Hines is wonderful and we stand behind him, but this new bid has some real meat, some teeth, doesnt it . Yeah. The former president and cochief executive officer as well as the cochair, were talking about mike has diswho already has bout 8 of the company and has now filed with the sec indicating interest in at least acquiring enough shares to take back control of blackberry. The problem is that theres a november 4th deadline approaching by which time blackberry, which was soliciting bids, is going to close the books. Youve got fairfax financial, no ones really confident that they can come up with the funding to close the deal that they first proposed. But what has been talking about and we talked about right here at 3 00 on monday, we talked with rob enderle about the potential to break blackberry apart. And there are companies, for instance, intel, that might be interested in partnering perhaps with a he novo or someone else who would want the blackberry deviccs because intel has whats known as the deep safe technology. They have a chip that would be dramatically more secure than anything on the market, but they have no home for that chip, to that chip could go into a device that they dont want to make, so you get a partner like he novo lenovo, they make it. Patents have been valued up to 3 billion in worth, on so top f theyve got 2. 6 billion in cash. So if you look at the fairfax offer, its worth 4. 7 billion. The intellectual property and the cash, its worth more than that. So things are heating up, november 4th is the deadline. Cheryl thats not going to be a boring negotiation or a boring bid. Adam shapiro from the newsroom, thank you so much. You got it. Cheryl 27 minutes to go. What a day. Right now were up 291 oints on the dow, and theres a lot of news breaking today. One fast food chain is literally giving away one of the newest additions to its menu. Is it a sign of desperation . Were going to have that story, its a good one. Plus, its taken hershey 30 years to launch a new brand of candy. What is it . Thinkkabout it. Were going to talk to the man who is in charge of the global launch. Hes going to be here, its a fox business exclusive coming up next. [ male announc ] need help keeping your digestive balance in sync . Try align. Its the number one ge recommended probiotic that helpsaintain digestive bance. Stay in the groove with align. We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. Weive for thmoments where can say, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers to business owners. And were here to help start yours.  . . Turning dreamers to business owners. When you do what io, iyou think about risk. I dont like the ups and downs of the mket, but i cant just sit on my cash. I want to be prepared for the long haul. Ishares minimum votility etfs. Investments designed for a smoother ride. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800shares for a prospectus, which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Call 1800shares for a prospectus, which includes risk includes possible loss of principal. Cheryl i mentioned this earlier, right now best buy is the top performer on the s p 500, leading the rally. Lets go to Lauren Simonetti on the floor of the new york stock exchange. What a day to be down there, and i know youre also watching the s p. Absolutely. Shares up 230 this year, 230 . Heres the stock today, up 7. 3 . Its hitting a threeyear high right now. Theres three pieces of information i want to hit on best buy. Number one, the researchers are weighing in, and its looking good. They say samestore sales very strong, consumers are starting to spend more than 1,000 at best buy. Steve nicklaus consumers indicating they intend to shop at best buy up 9 this month yearoveryear, consumers wanting to shop at the discounters down 3 . That works out really well for best buy. And then best buys going further and saying we want more of your business. Theyre starting on sunday a tradein program if you trade in your smartphone, theyre going to give you at least 100 credit to buy more phones at best buy. So we like that stock, and we like these stocks as well today. As you can see, capital one, the new york stock exchange, thats where i am now, wynn resorts, xerox all hitting highs today. What a great day, a relief day that we needed, cheryl. Cheryl all right, lauren, thank you very much. Of course, were going to see you very soon, still pushing highs for the dow and the s p as well. Well, it took 30 years for hershey to unveil a new brand of candy can, but today the Company Announced it will launch the lancaster caramel soft creams in the u. S. Theyre going to be doing that next year. Joining me now from harrisburg, pennsylvania, the Senior Vice President of sweets and refreshment and, steven, thank you so much for being here. Youre launching the brand, managing the brand and also acquisitions around the world. You chose to try these caramels out first in china and not the u. S. Why did you make that decision for hershey . Well, we didnt really actually start as a test in china, weve been developing the product in parallel in both markets. The opportunity is terrific for us in both places. China really came first because of our commitment to the market and our International Growth as well as just the dynamics of the market, the launch window hit us in the summer. Cheryl i think its also interesting that im holding one of the caramels right now, and full disclosure to our viewers, i tasted one, t really good. [laughter] its really good. Excellent. Cheryl but the consistency is different in the Chinese Market here, and i also know that hershey is developing a lot of different new brands for International Markets whether its india or china,other parts of asia. I mean, is it really that global story that hersheys pursuing here . We are, we are very much so bringing our brands around the world, and we want to make sure that the offers that we have make sense for the local flavors and the local tastes. And whats great about lancaster as a proposition is we also have a formula and an approach and a soft texture and a wonderful caramel that were going to be able to be bringing to the u. S. Consumer starting in january. Cheryl okay. Youre very good at this, and i have to say again it is good, but i do want to ask about price issues, and this could be an effect on hershey overall. Cocoa prices, especially since 2007, up 45 . And it looks like, again, because of americans love of dark chocolate and thats one factor and also some things happening with beans in west africa, that cocoa prices are forecasting to go higher. Do you have a good hedge against cocoa prices . I mean, do you have a plan in place to deal with that . Well, cheryl, we dont speculate on how we think about commodities or where we are from a hedging standpoint. Our Business Model overall is pretty sound, and i would refer you back to all of our filings and our general performance. Were doing pretty well right now. Cheryl well, you are. Youre making some good stuff. I also know that the shutdown, believe it or not, steven, the shut downs going to affect milk prices, forecasting that milk prices could actually double in the month of january. But fair enough, i boy, i hope not. Cheryl well, well see. I do want to ask you, overall 30 years to launch a new product, its wonderful, but is this a new turn for hershey after so many years of having the same products . Is this a whole new game for you . I mean, do you think youre going to have a slew of new things coming out this next year . Well, weve had a lot of innovation over the last 30 years and, in fact, over the last 100 years that weve been in business. Cheryl right. Whats exciting about this opportunity is we found a space where our current lineup of trademarks and brands didnt really touch on, so its really an incremental space for us that allowed us to bring a new brand. Cheryl steven, ive got breaking news out of washington, i want to take us live out to washington, d. C. Where were having a democratic leadership press conference. Lets listen to senator harry reid. After having slated an hour and 45 minutes with him today, i feel the same way. We are here. The government should be open now, we should be able to pay our debts, and as weve said and will continue to say, we if that happens will negotiate on anything, anything. And the president confirmed that today. Will you accept the [inaudible] the house has a unique form of legislating. Its hour by hour. During the i dont know whats happened in the two hours ive been gone, but this morning before i got here it was floated to the press and otherwise three different proposals. I assume theres a couple more since then. Lets wait and see what the house does. When they send us something, well look at it as clearly and as closely as we can. Under the same determination that weve made. Open the government. There is so much pain and suffering out there. It is, its really tearjerking to say least. And so we want the government open. We want to be able to pay our bills. This is a situation where they do not know what a they want. What they want. I hope the republicans decide what they want, and well be happy to work with them in any way. I repeat for the fourth time right here, open the government, let us pay our bills, well negotiate with you about anything. [inaudible conversations] shortterm deal that pardon me . Would you accept a shortterm deal [inaudible] we are going to look at anything they send us. In the last coming out of this meeting, we have two emails. Theyve changed, the last we got, on how much time they want on debt limit. So, i mean, lets just wait and see because there are some rumors they want it tied to the cr. Well just wait and see because they cannot decide what they want. One more question. Yes. Senator reid, up until now its been very clear, you had this very clear position, the president had a very clear position which is we need a clean cr, we need to open the government before youll engage in negotiations. The republicans were pretty clear earlier today they want to negotiate before you reopen the government, is that not going to happen. [inaudible conversations] whats your sense, are we any closer . Cheryl all right. So we have been listening, of course, to this quick little, a few comments from senator harry reid and democratic leaders. They have met with president barack obama. I do want to point out that House Republicans are set to meet and, of course, the gop leadership as a whole are set to meet with president barack obama, thats supposed to happen about 4 30 eastern time. The reason youre seeing the markets take off like they are is because the gop came out and said this is, john boehner came out earlier today, House Speaker john boehner and said were going to meet with the president , six weeks. Fbn confirming this, you heard this from rich edson earlier today, that was exclusive reporting from our correspondent in washington that they were going to propose and they will propose today to the president this meeting has not happened yet between the gop and the president proposing a six week extension on the debt limit. So give us six weeks, pay the bills. But, again, a lot of this is going to be completely,3 completely dependent on what the president says. And if you listen to the language just now from senator harry reid, critical, doubtful, hour by hour, well listen to what they have to say. But, again, weve heard this rhetoric before and this back and forth between the democrats and the republicans, and the stalemate, its not over, everybody. All right. We are watching the markets right now for you, of course. Off to the races, i do want to say here, on what weve seen from Congress Today that we may have an approval of this six week extension of the debt ceiling, relate the parties let the parties come together. But the rally, if this doesnt hold, whats going to happen to the markets . Is this rally not going to hold . Lets bring in mark spelman. We just heard from harry reid, he was i dont know if you could hear his comments over the microphones in the studio, but he was very, again, combative. Sure. Cheryl this type of language is what investors are so skittish about. No question. Cheryl so if we dont get a deal today, markets open tomorrow theres nothing between the two parties, what happens . Well, i think today is truthfully a real relief rally. Im not convinced its a fundamentallydriven rally. The market was down about 4 over the last come weeks. You couple weeks. You saw options, futures even individual stocks, the market has been more bearish than its been in a long time. I attribute this rally today as really a relief rally. I think overgoing to go sideways cheryl i dont want to hear relief rally because that tells me that theres nowhere, theres nothing else thats going to take us higher. I tend to agree with that statement right now. I think right now youre going to get a better opportunity. this game has just been pushed off. Theres an inevitability were going to have to come to an agreement, and i for one am not in the belief that tomorrow morning everythings just going to be terrific and copesetic, and even after that were going to have lots of other issues right down the line. Cheryl as weve looked at the market, at the at tuesday of Market Participants attitudes of Market Participants as this shutdown continues, you have to wonder at the end of the day if the chatter that were hearing about a potential default, us not paying our creditors, some analysts saying absolutely were going to pay our creditors, dont worry about it. Where do you fall . Credit default swaps say theres a less than 2 , i dont think anyones interested in seeing that happen, i think its really rhetoric. Cheryl at the same time, what weve seen out of washington is a complete disregard for the markets. Sure. Cheryl we were going to shut down the ggvernment, we havent done that since the 90, and weve done it. Weve done it 17 times in the past too. Id be worried about the earnings and impacts of the fundamentals on the economy, employment, housing earnings, all these companies that have 40 of their exposure to government, theyre going to have a tough quarter going forward. Thats what im worried about. Cheryl youre worried about the earnings. Absolutely. How this Impacts Companies and their earnings and their cash flow and how theyre going to operate going forward. You hit an air pocket, and everybodys popped down, and then they have to get right back up. So its not a great thing for the domestic economy and certainly not for company fundamentals. Cheryl well, you know, shutdown aside, david asman and i are going to be hearing from jpmorgan tomorrow, obviously, one of the things weve seen in Corporate America is they have cut and cut and cut. Where are the revenues going to come from in major u. S. Companies . They cant cut any more. We dont see them adding jobs. Right. One of the things a lot of companies, were trying to concentrate on companies with european exposure as well because things are getting a little bit better there. The profit in the u. S. Is, as you say, coming more from the operating margin line than it is from the top line. Theres still some work to be done there, but i think overseas, in europe thats kind of where im looking for real topline growth. Cheryl so youre going to go for, i mean, its more of an emerging market story . Not really, developing nations. Cheryl so maybe like europe, weve seen more growth in europe. Absolutely. You know, that line has ticked up a little bit, and were hoping, you know, through 14 youre going to get some better action cheryl how are you feeling about the performance of audio line . The incoming growth fund, its a balanced fund, it goes anywhere in the capital structure. Were very low as far as fixed income is concerned, still very bullish on strongs, however stocks, however we have a highest cash value cheryl 8 , right . That is fairly high, not that ive had someone come on that has 90 , but 8 is high right now. Absolutely. And were looking for a couple of pops to come down. We were 0 cash in november, and over the last three months weve been raising it as valuations and a lot of groups we thought were getting high. Cheryl you mentioned that youre still pretty bullish on equities. What about u. S. Based companies . And this has been the story for the last five years, unfortunately, u. S. Based companies that have that international exposure, coke cocacola or Something Like that. Theyve had big boosts this year. Sure. I think some of those staples names, theyre a little high. The bar got reset when Warren Buffett bought heinz, and concerned. Cheryl or bdos, the commercials have been telling me. I keeppseeing those commercials. A couple other names youve got in the portfolio that youre going to stick with. Uhhuh. Well, were ooking at somm laggards, actually, that were adding to, and one of those would be bce, the old bell canada which is very boring, but one of the problems with this stock has been the investment world has been worried that verizon or at t at any given moment would bombard the canaddan wireless market and competition would explode. Both those companies completely say they are uninterested in canada. I think thats going to give that stock some legs. I think you can get 20, 30 upside in the stock. By the way, youre going to collect 5. 2 in the dividend yield in the meantime. In a portfolio of incomegenerating stocks, thats one i like. Cheryl mark spelman, thank you very much. Thanks. Cheryl interesting take on all of this today. Again, you know, a busy day for washington, a busy day for the markets, dow 292 right now. Weve got seven minutes to go. Are we going to hold onto this . This is a broad rally, but in a moment we will tell you which companies in the nasdaq are really knocking it out of the park, and there is your dow, 293. Well be right back. You really love, what would you d [ wom ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a p maker. [ n ] i wanna be a pilot. [ wan ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Who found a magic seashell. It told him what was happening on the tradg floor in real time. The shell brought him great fame. But then, one day, he noticed thaeverybody could have a magic seashell. [ indistin talking ] [ male announcer ] right there in their Trading Platform. [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a. She. Get live squawks right your Trading Platform with think or swim from td ameritrade. Cheryl want to show you the biggest movers where the markets arr higher and higher. Want to look at liberty right now. Liberty one of the biggest movers on percentage basis. Looking at gilead. Netflix up 5 , 303 a share. Of the facebook again pushing towards 50 bucks a share. Look at activiiion as well. Moving higher. All the stocks especially on the nasdaq big movers. Look at overall markets. What we have and what were seeing have seen throughout the day as you heard exclusively from rich edson the fact that the gop is extending an olive branch to the president. That meeting will be at the next hour, getting underway at the white house. Markets want to see a deal. Markets think today they will get a deal. Tomorrow morning could be a whole another story or could be a better story. The news will continue to go on. I will continue on with you but i will bring in my man, david asman. David good. Fantastic. What a day to have you here. Incredible, 299, were just about ready to pop 300 on the dow. There we go. 300 points on the Dow Jones Industrial average. We were talking yesterday to the cm etrader in chicago. Seems like a lot of cashrich traders looking for opportunity. Cheryl looking to buy. David if this deal takes places looks like will happen, only for six weeks. November 20 second they have to do this all again 22nd. There is a lot of cash in the marketplace ready to jump in. Cheryl we shall see. Tomorrow morning could be whole another story. A guest said this is relief rally with earnings coming in. David 303 points on the dow. Lets go to Lauren Simonetti on the new york stock exchange. Talk a about a sector, banks are really happy. Cheeyl showed us big movers, the breadth of this rally is i am impressive. All of these names in the green, really a strong day. I really want to point out when we started government shut down, the dow closed at 15,029. The shut down not affecting wall street. It is debt ceiling and default has people worried. We might have a deal. Cheryl we might have a deal. Lauren, in the last hour youre looking best buy, the stock is jumping. Top performer in the s p. Top performer today and top performer this year. Consumers are shopping there again. The discounts, theyre not too much at this point. David by the way a big office merger. Office depot and officemax. Theyre merging. As a result their stocks are way up. [closing bell ringing] it is not the specifics of individual stocks. It is impressive as some are. The breadth of this rally. The Dow Jones Industrial average is 316 points to the green side. Look at that rally, folks. First time in a long time, cheryl. I remember all the indices being above 2 . Again a very broad rally. Cheryl one of the best days for the markets frankly in months. If you look at the dow, nasdaq, s p, russell as david just mentioned, above 2 . A lot of news is breaking. In 30 minutes from now top House Republicans will go to the white house to offer the president a six week extension of the debt sealing in return for negotiations on spending. David treasury se

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