This is small and midsized caps. We really struggle for the small and Midsize Companies that face all kinds of questions what their futures are like. They did well today. Cheryl lets get some headlines. We may see jay carney in the press Briefing Room any moment. President obama and House Speaker bone bone spoke on the phone. Were finding out they spoke on the phone about the budget and debt ceiling negotiation. Well go to the washington for latest details. At any moment we expect to see jay carney. David meanwhile there are effects to all of this people are five just nellies because of what happened. Consumer confidence fell to the lowest in nine months amid impact the ssutdown according to Thomson Reuters consumer survey. Cheryl jpmorgan, first ever quarterly loss under jamie dimon. Excluding litigation, onetime cost, jpmorgan made a profit of almost 6 billion. Stock not really performing today. David no. Another big bank, wells fargo said profit rose by 13 in its Third Quarter but its Mortgage Business did fall. Cheryl and we have some fed comments. Federal reserve governor Jerome Powell said the fed will maintain its ultraeasy Monetary Policy for quite a bit longer3 regardless what happens with the asset buying program and possible taper. David by the way, reuters is reporting right now that the Justice Department is making inquiries into allegations of Foreign Exchange rate manipulation centered on the swiss franc. European authorities are currently leading the investigation. After the bell starts right now. David we are going to toss immediately to jay carney in the white house Briefing Room. Were expecting some breaking news. Lets go. I just wanted to make sure that before i came out to you i could provide you with as much updated information as possible. I dont have an Opening Statement to make and, in the interests of moving this along i will go straight to questions. Well, i can anticipate some of your questions. So, it was, kind of information that hope will be responsive to your questions, at least in part that i sought and found. Julie . Thanks, jay. Can you tell us what the president and Speaker Boehner discussed in their phone call . Yes, i can. The president did call and speak with speaker of the house this afternoon, not long ago. Had a good conversation and the two of them agreed that all side snead to keep talking on the here, that are confronting us that have led to a shutdown of government and to the situation that put us on the precipice of, you know, potential default or at least reaching that line beyond which the United States government does not have borrowing authority. So the president believes that in his meetings yesterday with House Republican leaders and today with Senate Republicans as well as of course with house and Senate Democrats that weve had, there have been constructive talks. When it comes to the House Republicans in particular there is an indication anyway of a recognition that we need to remove default as a weapon in budget negotiations. That the threat of default should not be used and certainly default itself is never an option. And the president appreciates the constructive nature of the conversation and of the proposal that House Republicans put forward. He has some concerns with it. And ill simply say without reading anything, i will not read out details of conversations of the phone calls that our position, the president s position that, you know, we, the United States should not and the American People can not pay a ransom in exchange for congress doing its job remains as true today as it has been throughout this period. When you talk about House Republican proposal are you talking about the proposal that they presented in the meeting yesterday or are you talking about this new proposal from them that would increase the debt ceiling short term and also reopen the government and in exchange, increasing cuts in benefit programs . Im not aware of multiple proposals. I think there has been general discussion and im not going to get into details. I will simply say that the president has longbelieved and insisted we can not allow a situation one party in one house uses the threat of default to try to extract concessions through budget negotiations. And it is his position that the right thing to do is to remove that gun from the table. Extend the debt ceiling, in a way that insures that there is no suggestion or hint that default is an option. Because our economy cant endure that kind of approach to resolving our budget differences. A proposal that puts, debt ceiling increase at only six weeks tied to budget negotiations would put us right back where we are today in just six weeks on the verge of thanksgiving and the obviously important shopping season leading up to the holidays. An that we would create enormous uncertainty for our economy. The president speaking with Small Business owners, heard from them, that you know, continued threat of default into that season would be very damaging to them and we cant, we dont think that is the right way to go. You said yesterday though the president would likely sign a shortterm david we were expecting something special, nothing that special from jay carney. He of course the White House Press person. Peter barnes has been watching this or listening to it from right outside of the white house Briefing Room on the white house ground. We can coin it hear, peter, comments like, removing the gun from the table, weapon, ransom, kidnapping. These are pretty harsh terms coming from the white house still. Yeah and the white house is going after the tea party here and ted cruz in the senate and, importantly, ted cruz was one of the republican senator who is came over here this morning and met with the president for an hourr1 2, almoot all of them came. Pulled up in buses at the portico and they were in there and waiting to get a readout from the white house and from carney how they think the meeting went but we have been hearing from Senate Republicans including the number two republican in the Senate John Cornyn and he said, that the session could have been a productive one but instead he thought it was another lecture from the president and, he had even more to say about the meeting when he went to the senate floor. Take a listen. He himself sort of chuckled about the grand bargain that he had been pursuing than Speaker Boehner and others had been pursuing over the last few years and he likened it to a unicorn. In other words a mythical creature that no one has ever actually seen. Thats what the grand bargain is. At least under this administration. Also, we heard from senator Chuck Grassley of iowa who tweeted that he thought it was a very good discussion on the shutdown. Nothing obvious decided but, but hope, im surprised there will be progress. Also heard from senator Susan Collins who said she thouggt maybe a deal to keep the government running six more months, sixmonth continuing budget resolution might be a way to get a compromise that would reopen the government and get an increase in the debt ceiling. So we continue to get feedback from Senate Republicans, House Republicans. I will run in here to hear what else carney says. Cheryl peter, before you do, i want to get your opinion on something here. Were still monitoring what jay carney is saying inside the Briefing Room, what he is saying here, the white house, a proposal that put as sixweek debt ceiling increase tied to the budget is a nonstarter. That they will not agree to that House Republicans that would be kind of the deal that gets done this weekend. What do you make of that . The white house has been trying to argue, were hearing kind of mixed messages. Carney seemed to say yesterday the president would sign a debt ceiling increase in the debt ceiling, without opening the government first and start budget negotiations after that. So no contingencies. Now youre hearing that from carney as he is speaking right now, some perhaps a different position. Cheryl right. But, you know, i guess it comes down to what the definition of clean budget resolution or clean debt ceiling will be. And, whether or not they will consider, you know, having talks on the budget and reopening the government as conditions and, so, it is a moving target. Cheryl you know what . I will let you go inside to listen to the briefing. Peter barnes, thank you very much. David it is also raining. Good to get him out f the rain. What is extraordinary he despite of all the indesigh sieve elements of the story we still have a market gain of triple digits on the dow. Cheryl right. 11 to the upside. Monday morning could be a different story. David could be a lot of trading action throughout the weekend. Cheryl bond market closed on monday but stocks will be going. A few moments ago we got white house views of all the drama in washington. Were still getting comments from jay carney. Where do things stand in congress . Well head to the hill to find out what republicans are thinking. Whether both sides are closer to a deal. David by the way with all the political heat, finally will it force washington to tackle some way the explosion in entitlement spending . Were going to be asking steve forbes. A man who knows a lot about both money and politics and also greattlittle show over the weekend called forbes on fox. Cheryl ive seen that. I think you host that. In todays facebook question we want to know, do you think congress will reach a deal bit debt ceiling deadline on october 11th . Log on to facebook. Com afterthebell and let us know. Back in a moment. [ male announr ] once, there was a man who fnd a magic seashell. T told him what was happening on the tradfloor in real time. The shell brought him great fame. But then, one day, he noticed that evybody 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. Sll. 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We, not having branches lets us givyou great rates and service. Id like that. New way to bank. Betally bank. Ave. Your money needs an ally. David shares of micron falling hard today following the companys Earnings Report yesterday. Lets head back to Nicole Petallides on the floor of the New York Stock Exchange as it is still going down, nicole . It was not a good day for micron shareholders or the company itself. It was down more than 8 . This as the dow moved to session highs at the closing bell. A lot of excitement to the upside on wall street but not for micron today. So this fellow is the number one loser in the s p 500. They did have late thursday, numbers there. Earnings results. They reported Fourth Quarter sales that exceeded the expectations. The sales were good but it was earnings numbers that really, they did have a onetime gain but really failed to meet the wall street expectations. So it was a big laggard today. Which should be noted though, it is a great performer this year, outperforming so many stocks, up 165 for the year 2013. So it really is a great performer but a tough quarter. Back to you. Cheryl Nicole Petallides, thanks, nicole. David lets get to todays Market Reaction with kim and daniel stesaich in the pitsp of the cme. ood to see you. Daniel, markets almost always overreact to things like politicians on the beltway. We had a relief rally, tripledigit gain on the dow. All indices were up. Is this relief rally also an overreaction . I think so, yesterday and today were both overreacting to both of the, half of d. C. Coming together and agree to taak. Cheryl all right. Dan, over to you. What weve seen in particular when it comee to the markets is volatility. Weve seen volatility again yesterday. Right. Cheryl seen volatility yesterday. If there is no deal monday, how high will the vix go and how volatile will the market be . If there is no deal you will see the vix in the 20s. After the announcement with the carney press conference somebody is going on back there. The market gain ad couple points and kept the bid. Doesnt mean there is a deal out there, the fact theyre being quiet about it, not seeing he said she said is encouraging to me and theyre talking behind closed doors and instead of playing to the public. David kim, i want to give you a little more chance. It was a short reaction not overreaction on wall street of any kind of deal being done. Do you think because perhaps the market overreacted, i know you dont play for the daytrader routine, if you think you are kind of rich right now based on what happened the last couple days, maybe you sell a little thinking the market overreacted . I think so. I think valuations just overall this year are way ahead of what earnings have done. So what i would do is go through my portfolio and look for things probably at their fair value or pretty darn close to it. Last couple days surely have given you some increases in your portfolio. It is never a bad thing to sell a little bit. Not the whole position but a little bit and, you know, go on from there. Cheryl well, kim, what does that mean for some of the stocks you like right now . I know you like intel for example . Yeah. Cheryl what kind of move would you make on a stock like intel . Intel has been beaten up, and probably unless you bought it last year when it was in the teens, or the year before, i would probably wouldnt take that money off the table. That actually, i think still is a buy. But looking at another company that we really love, honeywell, honeywell has performed unbelievably well. We think it is wellpositioned for the long haul but would probably take a look at that if our position has grown outside, outsized our portfolios. David dan, lets switch from equities for the moment to gold. Gold is dropping like a weighted stone right now. Right. David where does it end . And isnt it kind of a counter action to what a lot of people thought would happen as a result of janet yellen being nominated because she is easy money person . One would think you might have inflation and gold goes up. We havent seen the inflation coming through. I think the gold running through is primarily what is going on in washington. Im not a good fan of gold. If i thought the bottom would be going and i would short it. David hold on a second. You would be shorting it even now with a 12 handle . I had to have a position on in gold i would be short gold for the longterm. Im not talking about short term but for the long term i dont like gold. Cheryl you know, kim i do want to go back to something, here with me going equity again but i have to ask you about Health Care Sector overall. Now that republicans backed off any changes to obamacare, what do you make of the Health Care Sector . The exchanges were a bit of a disaster . Im an excomputer scientist and it is a travesty really to have let that out without as much testing as clearly was needed but that is neither here nor there. Looking at health care were underweight that sector and its because we think in the future that is going to be an area that is squeezed for profitability as more people come in to medicaid, and perhaps even medicare and the government is just going to start squeezing the Health Care Providers and the drug manufacturers for better prices. And that is not going to float through to the bottom line. David dan, let me stick with equities for a second here and leave on a little positive note which is alcoa. Sure. David alcoa, along with its earnings had a forward forecast which was very positive and bullish for the economy. Lot of people look at alcoa for a bellwether of economy because they sell durable goods. Are you encouraged by the statement they had . I was absolutely encouraged and heres why. Theyre still a bellwether in terms of the industrial sector, metals and materials. What they said not only do they feel decent about the u. S. But theyre feeling comfortable about europe and china. Those two areas have been depression on the markets. Get those solved in any sort of way it will be nothing but good for those type of companies. David there is a positive note here. Actually ending the day with a tripledigit gain on the dow is a pretty positive note. Kim caughey forester, dan, wonderful to see you as well. Happy to be here, thank you. David thanks. Cheryl well, democrats and republicans go down to the wire in their battle for a debt and budget deal. Were going to game out the brinksmanship with political strategists from both sides of the aisle. David trying to do it without blaming each other. We dont like to get into that blame game. Also will washington just kick the entitlement spending kang down the road . 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[ woman ] if you havthe nerve to believe that cookie cutters should be for cookies, not your investment rategy. If you believe 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 difference. Join us. [ male announcer ] at edward jones, its how we make sense of investing. David well democrats and republicans appear to be inching toward a possible compromise for the debt ceiling and budget. Both sides are making some kind of progress. Is the end game near . Cheryl wellsaid. Rich edson from capitol hill with the very latest well, where we are. Rich . A lot less tension on capitol hill. Not the most friendliest place on earth. Democrats and republicans put most rhetoric away for a little bit as they watch negotiations play out of the House Republicans are negotiating with white house staff. House republicans gave an offer last night, mostly spending cuts to open up the government or at least the part that is closed and increase the debt ceiling in exchange for spending cuts. Theyre waiting for a counteroffer from the white house. Those negotiations are in beginning stages. Speaker and the president have talked on the. Theyre still waiting for a deal but theyre waiting for the how how negotiations play out. On senate side, one senator, Susan Collins is looking for coalition of democrats and republicans to break the impasse. She is floating a oneyear spending bill. Shortterm increase in the debt ceiling. Would repeal the medical device tax and add antifraud verification system for the president S Health Care law to insure better access, or antifraud when it comes to getting tax credits for the president S Health Care law. There is something that goes on capitol hill. Any one would be the way forward here. Right now lawmakers are waiting and seeing if any of these come to conclusion. Remember democrats and republicans, since republicans were elected to control the house back in 2011, have been going round and round on taxes and spending and revenue issues. So, dont expect them to solve them in a big way anytime soon. At least maybe enough to extend the debt ceiling for a little bit and open up the government for a while. Back to you. David by the way, senator Susan Collins is a pretty moderate not jump up and say hallelujah when she offered her ideas. That didnt seem to get anywheee, rich. Cheryl good point. Washington and wall street are on edge as republicans and democrats go to the brink in their talks to try to resolve the differences over the partial Government Shutdown, the debt ceiling and of course longterm spending. David so what reasonable offers are on the table . Put there by both sides. Joining us christopher hahn, democratic strategist and former aid to Chuck Schumer and ron bonjean. Thank you, guys. Thanks for coming in. Chris, i want to go to you first, my old friend. I have here a whistle. I would blow it but it scared the heck out of my partner here cheryl. Cheryl oh god. David you just did that cheryl david. David that is why im not going to use this i have to invoke what we call here the cavuto rule. If you start blaming the other side im going to cut you off and your tiie will be filled by, im serious here. Cheryl can do what she wants but i will cut you off just dont come out with a solution rather than blame the other side and use bad names and such. But let me put up a poll first. 62 of americans want to like a rise in the debt sealing to cuts in spending. What is wrong with that idea . I think they dont understand what the debt ceiling is. The debt ceiling is basically paying the bills that weve already committed to through the budget process. Youre saying, hold on a seg because you are saying now that the American People dont understand that and therefore we can ignore their views . No i think the American People do not understand it. I think the American Government should do a better job explaining what the debt ceiling is to the American People and to some members of the house of representatives who dont understand it. Cheryl ron, do you agree or disagree with the republican strategy here . Because all they have asked is that the president and senator reid come to the table and discuss it and john boehner asked repeatedly they wont talk to us. Theyre talking now. Did the republicans make a mistake in the strategy in all in . Look, i think right now the debt ceiling well go right up until october 17th in terms of negative hundreds. Negotiations. President obama is talking to republicans and theyre talking back. Were finally starting to see the endgame appear. I think its a smart play, look, if you want the debt ceiling extended we want budgetary and entitlement reforms. Cheryl do you think this is smart move . I do think it was cheryl they blame the republicans for what were seeing. I think its a smart move to pivot away from obamacare because the Government Shutdown and obamacare kept going, and limping along. It is a under this endgame. Rons great at reading polls. I respect his judgment and quite frankly he has seen the polls last week or so. The one thing the president couldnt do is make americans love obamacare more. This shutdown made the American Public like obamacare more than they did a week ago and they have to pivot away. David chris, here is one thing americans dont like. They dont like the fact that businesses and wellplaced unions get exemptions for a year that individual americans wont get. How do you deal with that . Well, i mean, look, i think that it was a mistake to give those exemptions. I think the individual mandate david hold on a second, chris. Lets not go over history. It is done. The big businesses have exemptions. Unions have exemptions. Individual americans dont. That is unfair, is it not and how do you address that as a democrat worried about fairness . Well i agree with you, david. It does appear to be unfair. I think that the bill does not work without a majority of uninsured people buying insurance so that we have, we spread out the costs. That is how insurance works. So you cant give exemptions to everyone. It might seem unfair but a little unfairness needed to make the law work. David wow. By the indof the next year well seeethe businesses coming into it, it will make the law work even better. Ron, president obama really is the first president that has never, when he had divided executive branch, excuse me, legislative branch, when he had a Division Like this, not at least gone to the table and talked. First time weve seen in decades wrong, did the president make a mistake . No, i think he did. It is really wise idea he is starting to talk to republicans now because you know what . You dont want to be first president in American History to let the debt ceiling default. He does not want that on the books. Doesnt want that in the history books. That is legacy thing for him. More important to have the economy and the worlds economy to keep going. The fact you have to talk in divided government. That is what it is, yes, republicans run the house of represennatives and you have to get in the room and negotiate. Guess what . Both sides will get something out of this it. Debt ceiling will increase and republicans will get agreement within six weeks or whatever the time frame is, i know Susan Collins threemonth thing. They will get in a room to figure this out. 3 i think well see a deal before or on october 17th. David you guys are really great. I didnt have, by the way, she wouldnt let me use this whistle but i didnt have to blow my own whistle. Democrats are wrrng though. Democrats are all wrong. David hey, now youre getting go michael corleone and say david get the hook and pull you off. You can go to the extreme. Appreciate it guys. Christopher, ron, good to see you both. Thank you very much. Thanks, guys. Cheryl i want that whistle gone. As weve been talking a shortterm budget and debt deal may be on the horizon but could this cause the partial Government Shutdown to last even longer . Well talk to steve forbes, forbes media chairman and editorinchief. He is coming next. Bny mellon combines Investment Management investment servicing, giving us unique insights which he us attract the industry brightest minds who crea powerful strategies for a countrys invements which are used to build new schools to build more bright minds. Invested in the worl bny mellon. Sometimes th just drop in. Always oious. Cme group can help you navigate risks and pture opportities. We enable you reach Global Markets and drive forward with broader possibilities. Cme group hothe world advances. David if republicans agree to a budget and debt deal with no spending concessions from the white house and for obamacare and Everything Else whatever what can they do to insure we didnt suffer in vein . A man that knows polittcs, and business steve forbes. Good to see you, david. David are republicans ready to give up before they get any concessions on debt and obamacare . No this is reset. Get away from efunding which is not working with the public and go to something positive Like Congress should go on obamacare exchanges, getting rid of medical device tax, very importantly postponing individual mandate for a year like big business. David how can they do that without Something Like a budget deal or a debt deal to make their point . What they should agree to is postpone the thing for four to six weeks so you have time to negotiate. Go in with demands that public will support them on but also makes the point obamacare ultimately is unwookable. Go with that, a new tack, all equal again, all got hurt by the deal and go forward on it. David but again, the president said he is not going to negotiate. He just proved his point, if indeed the republicans give on that point, of getting something for nothing. Well the president says he wont negotiate on the debt ceiling but these two things, continuing resolution and debt ceiling have been kind of merged together and so he can say, wwll i will discuss the resolution. In fact they put a package together. Debt ceiling goes up but they make the changes on obamacare and some other changes. David what do you think of ted cruz . I think real fighter which i think we all admire but you got, when you charge up a hill make sure you have artillery barrages first before you go into machine gun nests. David nevertheless would we have gotten this far in really defining the elements, particularly the unfairness of giving exemptions to businesses had it not been for what ted cruz did . I think if Republican Leadership had a sense of strategy from the beginning and gone in with things like postponing the individual initiative for a year, which is very popular. Congress be equal on the exchanges with the rest of the American People and the medical device tax and things like that, they would have gone in a very powerful position, coinciding with opening of exchanges which was a disaster. I think it would have set a stage for disaster for thee3 democrats in 2014. Meantime gotten public support for real changes which they have a chance to get again. David specifically on Economic Growth. Everybody agrees were not growing as we should. Is there any way to turn these, the president doesnt want to use the negotiations but these dissussions into concrete proposals to get Economic Growth mooing again . Well what the republicans should lead with and not just the things we discussed like the individual mandate but simplification of the tax code, i. E. , something called the flat stocks. Put it on the table. The president will reject it but democrats are on the table for the idea of simplifying the tax code and reducing tax rates across the board. So put that out there. And let the president look like he is the obstructionist. David lead this time with something that you have public support for, like putting off the individual mandate for a year. People will support that. Using the debt ceiling this time didnt wwrk why would it work in six weeks . Because the republicans led with something highly unpopular with the American People, three to one, four to one, lead with something good for the country that has popular suppoot and democrats will put pressure on the white house, if you go against this we may have to override you. Davi any way after esublican versus republican battles where you had mccain usinn bad language towards cruz. I saw mccain and cruz together going into the white house. Can they present a unified front going into the next battle in six weeks . I think republicans realize there are very popular andorms e individual mandate and medical device tax that the party can easily unite behind. They will be able to get something now. Dont lead with your chin. Lead with something you can win with. David finally if were going through the whole thing again, the way you may describe it might even be tougher in six weeks, what will the market do . The market will flounder around and it will do anyway. If the market sees there will be real reforms, even just repealing a tax, big thing after what happened in january. David yeah. They will take it as real positive thing. The mood of the country is shifting and republicans get their act together which they havent had so far. David steve forbes, catch this wonderful man on a saturday mornings at 11 00 a. M. Eastern time. Forbes on fox. It is on the fox news channel. Dont want to miss steve and myself and a whole bunch of great people from the forbes crew there. Steve, thank you very much. David, thank you. Cheryl, over to you. Cheryl Global Investors are watching the political brinksmanship in washington like hawks and weve got an allstarr International Panel to tell just how nervous World Markets are about the latest negotiations. That is when we come back. Also one of the biggest names in the Auto Industry wins a key legal battle in a closely watched case. It could help determine whether or not it pays out huge damages. 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Now get 200 free trades david Many Americans are furious with washington failures to break the deadlock. What do International Investors think . Cheryl joining from us london is Investec Asset management head of currency management. From hong kong, steve bernstein. Gentlemen, thank you both for being here. I want to start with you. You made an interesting comment from kind of the view from asia of what is happening in the United States in the debt ceiling debate. Particularly the fact that the president cancel his trip to china. That was, that was a negative reaction in your mind for investors in hong kong and china. Can you expand on that . Yeah. Basically, everyone expected them to be here, part of the summit. By not showing up basically says we cant keep our house in order in the u. S. How can we effectively lead the rest of the world on some of these issues. So it looked at as veryynegative and you know, not a leadership position. David steve, just to follow up on that by the way, i would be interested to know what americans in asia feel about all this . A lot of expats in asia. What do they think of looking back at their home country . They feel disconnected and a bit embarrassed to be honest. Ive been living in asia 10 years, covering for 30. This is the first time i heard people talking aboot giving up citizenship or weighing the benefits of you know, citizenship. David wow. It is pretty amazing. A lot of it is just a lack of confidence. David wow. Thats powerful stuff, that they would be willing to give up citizenship based on what is going on here. It is really, it is. it is pretty amazing. If you looked at it, theres a lot of, you know, importance to asia to the u. S. China alone owns 8 of u. S. Government debt and japan owns 7 and amerrcans here are getting lot of pressure with people locally, what is going on in the u. S. . By the way if china wanted to reduce the debt it would be a big problem. Cheryl i have to take that somewhat the same question to you but over in london. What weve seen particular with all that is happening not just with the taper but lack of a taper but the debt ceiling is the pressure on the dollar. Youre a currency strategist. What do you make of everything youre seeing in the United States and what do your colleagues make of this . Well i think that from a political point of view, we expect negotiations, a compromise, a muddle through to continue. And as result would rely more on the fed and on janet yellen to insure that any signs of economic downturn, following the next few months from this political impasse would mean that the tapering is going to be delayed for a few months and, that the underlying support will still remain for the sustainable economic recovery. More about economics rather than politics. Given the experience here, with the eurozone, so close by i think the feeling is it will be an underlying economics driven by the fed rather than politicians who will drive the day. David talk about who is likely to be next head of the fed. Janet yellen. How do europeans perceive her appointment or nomination . I think it was perceived postively here from the u. K. I think part of the reason is that its been a continuity of bernankes fee. Part of her instrumental in the overall macroeconomic policy also because she was i think the first who started talking about 2015 as the first signs of exit from the monetary stimulus policies. Also following work she had done with the taylor rule and also i think from the, from a team perspective, more consensus building fed, rather than one which would be closer to mr. Summers approach. David fascinating stuff. Very, very interesting what the foreigners think. Cheryl good night and good morning to steve. Gentlemen, thank you very much for joining us. The worlds biggest automaker, toyota, in a key victory in a case that could set a precedent for other court battles. Huge sums of money are ating stake. Well have details coming up. Stick with innovation. Ick with power. Stick with technolog stick with innovation. Get the flexcare platinu new from plips sonicare. I can reach ally bank 24 7, but there ar24 7. Branches . Im sorry, ijusteally reluctant to try new things. Really . Whats wrg with trying new things . Look mommys new vacuum cat scree yofeel that inour muscles . I do. Drink water. Its a long story well, not having branches lets us give you great ras and service. Id like that. A new way to bank. A better wayo save. Ally bank. Your money needs an ally. David remember that unintended acceleration scandal a couple years ago . A jury found out that toyota is not liable for the death of a woman who was killed when her car reportedly accelerated and crashed despite efforts to stop the car. Cheryl jo ling kent joins us with the latest on this story. Jo. Cheryl and david, after five days of deliberation a california jury cleared toyotas name in a wrongful death suit. Toyota is calling the victory a bellwether case or what they hope is to come. The trial was over a 2009 accident that killed a 66yearold woman when her 2006 camry accelerated and crash after being first hit by a elderly driver who ran a stop sign. Unos family was seeking 20 million in damages arguing that the toyota could have prevented the crash by installing a brake override system found in other vehicles. Toyota defended its vehicles after the verdict came out. They said, quote, we believe this verdict set as significant benchmark by helping to further confirm toyota vehicles are safe with or without break override. Regardless of the outcome the unknow family lawyer believes toyota is weakened over all, telling the Associated Press we were able to demonstrate how the system can fail without a brake override civil. We found changes in the toyotas armor. I think the next case will be a win ir. There are some cases ahead for toyota. They face 80 similar lawsuits filed in state courts includeing a case that began in oklahoma this week, dave. David jo ling kent. Good to see you. Thank you very much. Sure. Cheryl linkedin is the wores biggest professional networking site but what about families . Well tell you how linkedin is trying to bridge the generational gap. David still havent answered one of those emails. Today ace twitter and facebook question, we asked do you think congress will reach some kind after deal by the debt ceiling deadline, october 17th, next week . Well bring your answers next. D opening the capital e purchase eraser . I need to redeem some nture miles before my demise. 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You have seen this the new advertisement for the dodger rainbow they seem to be resonating with car buyers stirring u interest on the internet has it translated into sales . He reprise is his role as from burgundy and as you can see they have a horse. I drove one all summer it is a great car i would just feature the car. I cannot wait for the movie part to. It is a double promotion they get him for free. November 7 bring your parents to work day the Company Hopes it will demystify the work at one out of three parents dont understand what their children do for a living. It is pretty clear. A. Dat congress will reach some kind of deadline . The gem on facebook said dont bet on it. Jobless claims scheduled to be read the state 30 00 a. M. As the claims dropped by 33,000 after jumping up at the six month high. A slough of Bank Earnings bank of america, an american express, citicorp and Morgan Stanley will be reporting. With said that showdown will lead be a deal . I am adam shapiro and here is what is money to night. The government trade wreck may be close to an end but will anybody be left spee in the . And lawmakers climb to a potential deal but if you think you have a good that maybe to the men behind in all new study that who made money today . Just when you thought the sun should could not shine and the brighter polling away expectations again. Even if they say its not, its always about money