Month. The reporter who broke that story with the latest. And shares of Home Builders Toll Brothers after a mixed Earnings Report and well hear about the companys cautious outlook but we start with the latest on tax reform and a report from politico says the big six are making significant strides on a plan moving past the framework pushed out in july, and one of the big six, Speaker Paul Ryan, is optimistic about getting things done. Heres what he said in a town hall last night. I believe its going to be far easier for us to do tax reform than it was say for Health Care Reform all right how close are we to getting a plan, and what exactly would be in it . Joining us are politicos nancy cook and our own ylan mui. Glad to have you both here for this discussion. Nancy, i was looking at your proposal today about the items that people are kind of rallying around here, but they include controversial ones like, you know, capping the Mortgage Interest Rate deduction and getting rid of the dedu
Years. Its warded them off and rebounded in a meaningful way each and every time. My sense is youll have more of the same now guy, just a quick question on the markets more broadly yesterday markets higher and the dollar higher. That correlation has not been in play for much of the summer. Is it encouraging to see the markets rally in the face of a strong dollar . Wolf, as you know, one day does not a streak make, but i think youre on to something lets see how it plays out the dollar was on a bit of a its been on a bit of a roerl coa roller coaster i dont think correlation can continue, but to your point it was a healthy sign we can say we want yields, but lower yields are positive for the equity market. Theyre positive until theyre not. I think were in that sweet spot, and i hate yeezi inusing well but i think you have to watch the dollar closely everything concerns me especially waking up at this ungodly hour, but one of the other things that concerns me is currency volatility is sur
And a quick look at crude now, wti 47. 64. Ecb president mario draghi just wrapping up a speech in germany. He says all kinds point to a strengthening and broadening recovery in the euro area. You can see 1. 178 euro dollar. Not quite the havent high weve seen lately but getting there. Well hear more from mario draghi on friday when he speaks at jackson hole. Fed chair janet yellen will also speak on friday. Steve liesman will be there with full coverage and interviews walmart is teaming up with google to take on amazon the retailer is getting into the voice shopping market. Google is offering hundreds of thousands of walmart items on its Google Assistant platform starting next month. Court court wi lowes is reporting. Weve been waiting for it for a little while its still early looks like 1. 68 versus estimates of 1. 61 that would be up above where the street was by 6 cents, 7 cents 19 billion in sales, right in line total sales for the fiscal year are seen up 5 up 3. 5 samestore sales
Good wednesday morning welcome to squawk alley. Im Carl Quintanilla sara eisen is here as well the dow is down 59 points following the best day since april. And techs best day in just over a week nasdaq is now lower for four of the past five trading days for more on all of this, we are joined by the chief Investment Officer john rutledge. Good morning, carl. You put more credence on the action yesterday or today, john . I think the risk is the thing you have to watch out for. So i guess that means today. And it is really event risk. Event risk is something investors dont think about very much, but it is like lifting a dumbbell big left, big right, nothing in the middle so you have good economics, bad Politics Around the world, and then its adding up to a lot of risk and makes me want to be cautious. You take risk on or off here . Were keeping risk on, carl our opinion is this is not uncommon over the last 8 1 2 to 9 years. This has been the most remarkable process of recovery, now norm
Train to asia investors looking for that and in japan then they fractionally. Squeeze up again in china. The shanghai composite index down half of 1 . Lauren oil prices up four days in a row. Down 1. 2 to 52 a barrel. Trying to keep your eye on the heels of a 10 year treasury bond. Right now the yield holding steady. 2. 44 . Lauren the night of basketball. Golden state warrior said the best for last. They mock the Memphis Grizzlies. We will show you highlight. Nicole will show you all the highlights. Fbn am in new york. We welcome you to the latest that it then breaking news. Lauren welcome back. Nicole thank you peer lauren trump and his choice for secretary of day. Exxonmobil ceo rex tillerson. A fierce advocate for americas interests around the world and will have the insight and talent necessary to help reverse years of Foreign Policy blunders and disasters. Lauren trump complimented paul ryan after their strange relationship during the election. Speaker paul ryan. Ive come to appr