Plus, there are fewer than 50 days until christmas and wall street is concerned about a retail apocalypse. We have the details about that, and later, its been choppy waters for Royal Caribbean the stock is cruising higher the ce will be here for an exclusive interview. Power lunch starts right now welcome toll power lunch. Im melissa lee. The major averages are recovering somewhat after falling in the red on reports of a delayed trade deal we have the dow and the s p 500 marginally higher right now. The nasdaq is down by a third of a the russell taking it the hardest. Lets get over to bob pisani for more theres been reports theres no clear deal yet over the terms of a phase one deal with china, or even whether president xi is going to come to the table on the deal industrials, theres your classic one, caterpillar, 3m, united technologies, theyre all down a bit today some of the semiconductors like micron also a little weaker as you mentioned, coming off their lows we had a buildup in c
this may be a one off. the big question what it will do to the fed. could weak retail sales cause a different approach to raising interest rates. maybe the market likes it. it is tightrope the fed is walking and market is walking. we ll talk all about it as we watch triple digit gains with our all-star panel next. former george w. bush advisor, karl rove, he is here to discuss new developments coming out of white house on infrastructure and immigration reform. that is next. i want to look back at the markets. quite a turnaround from earlier in the session. i think people were pretty speakinged with that consumer price index number came in a little hotter than it would. nicole. hit nail on the head this morning when the consumer price index number comes in showing inflation, came in higher than we thought. biggest one-month jump. when people saw rising interest rates they got a little spooked. futures were down over 300 points at one point. you knew they would pick them up
Were seeing a battle between red and blue states. Lawmakers from blue states like california and new york, that they are furious that the plan eliminates local and state Tax Deductions. I am from new york. Here is the thing. It is not fair places like new york, california, and others effectively getting a free pass. They are subsidized by money from every other state in the america. We need a level Playing Field, to make it fair for all states. Texas republican congressman brian babin, sounding off on that in just a few minutes. First were going to adam shapiro. He has very latest on path forward for the tax plan. Adam, is it going to happen . Reporter if i could answer that question i would be a millionaire and not in this job. Whether tax reform happens this year or next year, that is up to mitch mcconnell, who keeps saying this congress. Talk about issue you brought up, repeal of state and local Tax Deductions. Democrats would say to you, that you point out other states subsidizing
Making are still dancing in investors heads, following yesterdays disney approached 21st century fox about buying most of its assets. We also told you that broadcomm made an unsolicited massive 105 billion bid for qualcomm, the chip maker. And who could forget recent reports that cvs health may look to do a deal with aetna . The deal talk was enough to send the dow to an alltime high, up eight points at 23,557, and et cetera sixth straight day of gain nasdaq went the other way, down 18 2 3. But what could all of this merger talean for the Broader Market rally . Dominic which did y takes a loo. Reporter it seems theres a new mega merger possibility being talked about every day. The are hosts of reasons why companies are looking towards bigger acquisitions given current market conditions. Companies are seeking greater industry penetration, new geographic markets. Theyre a bit under pressure by shareholders and activists, also the relative ease of financing. Companies have access to credi
Classified information to the russians while they visited the white house. We need to tell you the story is extremely fluid but before noon security adviser h. R. Mcmaster sent out to say that the president did not reveal anything that wasnt already out there. But then in the last 45 minutes, the New York Times reports that americas strongest ally in the middle east may have been compromised by what was said. Lieutenant colonel ralph peters sent years as Intelligence Officer focusing on russia. He will decode what he feels is really going on. How big a mistake or not at all the president may have made and the israel connection that is bubbling up right now. We know much more at this hour than yesterday about the damage and origination of that massive ransom ware attack, symantec is one of the biggest security firms in the nation. Ceo will tell us the secret to keeping personal and Business Information protected and who he thinks is behind. This the dow take aim at 21,000. S p and the n