Taylor not a whole lot going on here. Smaller gains wednesday. Really nothing here on thursday. The s p and nasdaq mostly unchanged. The nasdaq with slight green on the screen led by the pharmaceuticals. Gilead is still continuing to lead the gains there after the takeover of kite last week. Kite does more cancer drugs. That is one piece of good news with some small gain. I want to focus on the big losers we are seeing. Comcast is one name im focusing on. They are continuing to see increased competition. They may see 150,000 in subscriber losses. Shares down the most in two years. They are trying to slow those losses. You have other tv providers like hulu coming in cheaper with fewer channels. Cutters, ithe cord should note. Disney down 4. 5 . They are seeing profit in line with last year, but thats not good enough for investors. Is expected to be released in the 19. Along with the new espn app as well. Released in 2019. We are keeping our eye on irma. It is looking like it may hit florida this weekend. What it will do to the Insurance Industry we are looking at auto insurers like progressive and allstate. They are the third and fourth largest insurers in florida. They are stopping issuing policies on new cars. Thats putting pressure on the car dealerships. The owners cannot get car insurance. You are seeing auto insurers down anywhere from 23 today. G btv 9053. Weve been talking about politics and perhaps we could see some tax reform after weve gone through the debt ceiling debate. The banks arent quite benefiting from that. When will we see tax reform and deregulation . We are tracking the ratio of the banks versus the s p 500 index in white and the regional banks versus the s p 500 index in blue. Since the election, they have been up all of those gains back where we started. Once again, we are awaiting the joint News Conference with President Trump and kuwaits emir from the white house. Kevin cirilli is at the white house. With us in new york, marty shanker. Obviously, the questions that President Trump will be fielding Foreign Policy and more on that he struck with democrats yesterday. Deal he struck with democrats yesterday. Does this make the prospect of a tax reform deal more or less it was going to be a difficult thing. I dont think it makes it much less difficult come especially if you talking about comprehensive tax reform. The democrats will never move from their position that you cannot have tax cuts for the wealthy 1 . As long as any tax plan includes that kind of scheme, they will not go along with it. And he will need democrats to get that deal done. Scarlet i hear more and more about how perhaps theres more of a likelihood. At you think expectations are being raised as a result of this . Kevin what taylor showed about the sentiment in the Financial Community about the regulatory financial policy, it is a genius point. I was just speaking last week with a banking lobbyist who suggested theres been behind the scenes competition that has not been as public as tax reform as some of these the regulatory thderegulatory doddfrank policies. Of course, im talking about doddfrank rollbacks for community and midsized banks. We have been said any real chatter of lumping together some type of tax cut that omits comprehensive tax reform with doddfrank rollbacks. All of that is super in the weeds. It for heading into the month of december as the president is looking for a major win, if he cant get his party on board and needs to reach across the aisle, he will have to give up some of those core conservative principles to attract democratic support. We areof questions waiting for the president to answer on domestic and Foreign Policy. Julia hasnt he proved hes willing to do that . Hes willing to give up those kevin it depends. Decision to broker with democrats really could have been mostly because of the hurricanes. It also sends a signal to Republican Leadership. Lets not forget about the back and forth. We always talk about the tweets targeting mcconnell and ryan lets not forget the signals that Republican Leadership has also sent. Leader mcconnell said he wanted a little less drama from the white house. In terms of the tension between the leadership, Republican Leadership in the president , it really came to a head yesterday inside the oval office. If theres a recalibration of sorts, that would be the cl ue about whether or not the president will ultimately decide to work with this batch of Republican Leaders or look elsewhere. We are showing you live pictures of the east room. We are waiting for President Trump and the emir of kuwait to begin that press conference. Marty they will get a twominute warning before it starts. Julia to dive out the way. What do you make of that suggestion . This is donald trump showing heart and that he wants to get this funding through for the hurricanes and from a butter perspective, which is vitally mustcal for donald trump hang i took the deal because thats what we need. Marty we suggest president ial. I think donald trump in the last two days has reported himself quite well. Among voters who dont care much for traditional politicians on either side of the aisle, donald trump has positioned himself to be above the fray and act in the best interests of the united theand the people tragedy that happened in houston and the one thats possible here in florida. And to concentrate his efforts on that and focus americans not on petty politics but on the common good. He has positioned himself really as a nonpolitician in a very political environment. Scarlet reportedly, he held calls with Chuck Schumer and nancy pelosi. This morning, he raved about the positive News Coverage that was generated with this deal with democrats, suggesting he could work with them again. Where do you think they could find Common Ground . Kevin Community Banking relief and perhaps even on some other smaller, more granular measures that impact the Law Enforcement community and potentially part of tax reform there was also some chatter about ivanka trumps role in the meetings. Notingthink it is worth alsoancy pelosi reportedly asked the president to tweet out about daca. You could see a situation where daca gets some bipartisan support moving forward. Reportedlynt has been someone who does Pay Attention to the news and what ,s written and said about him on television and in print and on social media. When you look at how this country has been gripped by the images coming out of the i spoke with several folks who work with this white house on messaging heading into the fallout and the aftermath of Hurricane Harvey. General view this as kellys first opportunity to build some trust with his new principal, President Trump, saying here is a strategy, heres a way forward for messaging in terms of getting help and working with local and state Law Enforcement officials on a response to Hurricane Harvey and the president took him at his word and trusted him with that. I think that pop general kelly some more goodwill. You are seeing a pushing out of the more original Campaign Staffers and a reliance and emergence of a chief of staff who is in control. Thats what you are starting to see, the president has said consistently on the campaign trail that he likes results. General kelly has delivered some political update political optics results. Marty kevin is absolutely right. The a lot of discussion before harvey hit that this was the first test of donald trump in a true crisis. The reviews are pretty clear he was up to the task. General kelly had a large role in that. Provide the kelly framework but he convinced donald trump to follow the playbook. The fact that he did that and hes had such positive press just reinforces the notion that maybe this is a better way of doing things. Scarlet the you think it gives general kelly more room to put his stamp on this administration . Marty that may not be his goal, but hes a pretty tough character to begin with. He has had complete control over the president and post real set of discipline on everyone around trump that they have to go through him. Will donald trump listen to kelly . If he does, he becomes even more powerful. His goal was always to control the environment around the president. That being the case, how much has he influenced the president s ability to tweet out or respond to whatever news he sees out there through social media . Just think about the last three or four days. President trump has not tweeted anything particularly controversial. Which is an interesting development. In fact, he tweeted something positive to democrats. Tweet is a signal that hes willing to sign a bill of some kind that would protect these 800,000 people affected by lifting the ban. It will be interesting to see Going Forward in this press conference exactly how he handles the questions. Marty schenker, thank you very much. Kevin cirilli, we thank you as well. We will be bringing you this News Conference as soon as it begins. Lets get you caught up on the other headlines in the bloomberg first word news. Millionre than one people are without power on puerto rico after Hurricane Irma blew through this morning. Three people were killed, some 200,000 do not have running water. President trump declared a state of emergency for the island. Pres. Escaped trump puerto rico escaped the brunt. It is heading right now directly into florida. Hopefully it will take a turn and go east. This is a live look at the path of the most powerful category five storm ever in the atlantic. Southexpected to hit florida early sunday and continue on to georgia and the carolinas. Steve bannon says gary cohn should resign if he cant stand by President Trump. The former chief strategist spoke to charlie rose for 60 minutes. Cohn was critical of the president s message after the violence in charlottesville last month. Chiefropean unions brexit negotiator is showing his frustration. Hes accusing the u. K. Of reneging on promises of what it u. K. Pay to leave position is it is only legally obligated to pay its annual membership fee until departure. The eu believes the u. K. Is down by past obligations. Spacex has successfully launched the pentagons secret of space rown secretive space drone. The air force will not say exactly what the drone will be doing. Its the first time spacex was chosen to launch for the air force. Global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Scarlet once again, we are awaiting the trump News Conference with kuwaits emir from the white house. , Charles Plosser says the mounting vacancies at the central bank are a sign of the politicization of the fed. We have his thoughts. From new york, this is bloomberg. Scarlet we are awaiting the joint News Conference with President Trump and his counterpart from kuwait. It will take place in the east room of the white house. A live shot of the proceedings as we await for the two leaders to emerge. Kevins really is at the white house. Joining us is marty shanker. Kevin cirilli is at the white house. , the q aight afterwards where most of the questions will be on the president s deal with democrats yesterday in which they would raise the debt limit for threemonth and put off deliberating it until the end of the year. And of course the aid to harvey victims. Julia this is a very important meeting between the emir of kuwait and donald trump. Given the attention weve seen in the region. Kuwait is in the middle try to mediate here. Questions about just where this administration sits in terms of that dispute and how they can help mediate this process. Thats what Rex Tillerson has been focusing on. The hope is that will som get se attention. We can all predict where the 50stions are going to minutes late. One of the good things about this president is that hes not afraid to continue these meetings if he thinks theyre making progress. Scarlet general kelly walking in and taking a seat. Perhaps that signals the end of the meeting. They will emerge eventually to begin the News Conference. When we talk about Rex Tillerson, we talk about Foreign Policy. How understaffed is the state Department Overall when it comes to Foreign Policy . A lot of investorships are still ened. A lot of people wondering when those positions will be filled. Marty one of the big difficulties is who to speak to at the state department. People manning desks are now empty. Theres been little flow into the state department. The white house has been making nominations for district judges and the like but hasnt done much on states. Tillerson thinks the state department is overstaffed. Threw out allans those americans, the president himself said you are saving us a lot of money. Tillerson is still trying to get his hands around what the Proper Staffing levels are. Theres no question that they are understaffed. To say that its no problem, we have it under control. Aside from north korea, there hasnt been a Huge International crisis that required a critical response. Scarlet thankfully. Julia we are just seeing the brief standing up and taking pictures. I think this is the moment where donald trump finally takes the podium here. Of kuwait arriving in the room. Pres. Trump good afternoon and thank you for all being here. Its an honor to welcome the emir of kuwait to the white house. United states and kuwait share a strong and enduring partnership. We recently commenced the 27th day of remembrance of saddam husseins invasion of kuwait, which we all remember so well. United states is proud to have contributed to the liberation of kuwait and for the friendship we have built together in the years since. Today, we reaffirm our commitment to our shared security interests and recognize kuwaits critical contributions to regional stability. We also thank kuwait for its military leadership and for its partnership in the fight to destroy isis. ,uring my trip to saudi arabia i spoke to the leaders of more than 50 arab and muslim nations about the need to confront our shared enemies, murderous terror groups that threaten all civilized people. Nation mustsible Work Together to strip these groups of their territory, their financing and the false the ure of theirall evil ideology. I encourage all nations in the region to do their fair share in defeating those who wage war on the innocent. Each nation in the region must decide what kind of future they want for their own children. One of the violence or one of peace . That means confronting the Iranian Regime who support terror groups and radical militias. Cooperation between america and kuwait has never been stronger. Kuwaitiand the government are expanding our counterterrorism and intelligence sharing efforts. We are making progress on promoting kuwaiti investments in United States. They are making Tremendous Investments in our country. They have great confidence in our country. We are also entering a Bilateral Agreement with kuwait regarding customs enforcement. During the same trip to saudi arabia, which was my great honor representing our incredible personallys highness asked me to expedite a 5 billion agreement for the sale of american super hornet fighting jets for kuwait. The state department has now authorized this transferred purchase which will not only strengthen our mutual security but will greatly benefit american workers. Investments in america through the Sovereign Wealth Fund are profitable for kuwaiti people and they create many jobs in the american workforce. Im pleased to report this year that kuwait has taken delivery of 10 americanmade boeing 777 airliners. Real beauties. American workers build the best planes in the world. Madent them to be available for those countries that want them. Ofait has been a big buyer commercial airliners made by boeing and others. Our Partnership Extends beyond shared economic and security interests. We are signing a memorandum to deepen the close educational ties between our two countries enhancing english language and thats what we are going to be doing, enhancing the whole relationship through the use of the english language and that is something that is very exciting for both of us. I want to thank his highness for his leadership role and the role hes playing to help the nations of the Gulf Cooperation Council follow through on their pledges we went to saudi arabia and the pledges of ending terrorist financing came from every country in that magnificent room on that magnificent day. We are addressing the ongoing sc dispute and the emir leading those discussions and hopefully it will be resolved very soon. We call on our gcc and egyptian allies to focus on our commitments at that saudi arabia summit to continue our joint efforts to drive out and defeat terrorists. Qatar, saudi arabia, bahrain and egypt are all essential u. S. Partners in this effort. We have great relationships with all of them right now, maybe better than weve ever had. Whenll be most successful a united gcc with a united gcc. Tomorrow, secretary of state tillerson and foreign minister alsabah will