Harvey struck and the dramatic rescues continue. Were live with the heroes volunteering to save flood victims as waters in some areas of texas continue to rise. Vice president mike pence touring the texas damage firsthand today. He will give us an update on relief efforts. Well take you there live when he begins to speak, ash. Ashley back to the markets. The dow climbing into the close. Lori rothman at new york stock exchange. Lori, doesnt matter what is happening, north korea, hurricane hair very, these markets are resilient. You said it ashley. Dow and record highs. Five consecutive months of gains for the dow and s p. Nasdaq chalking up two consecutive months of gains. We had good economic news. Obviously the data print taken before the devastation of Hurricane Harvey and gulf coast. Gdp print of 3 was awesome of course. Then today we had a couple of data points on initial jobless claims. That helped keep markets in the green today. Lets look back at the month though. Here are binners on the Dow Jones Industrial average. Apple better than 10 gains for the month of august. Visa up there as well, better than 3 . On the downside, disney down almost 8 . Disney saying today its Abc Television unit will have to have some job cuts because of problems there with the abc network coming in three behind cbs, nbc. Nike of course, tough earnings recently down 10 1 2 on the month of august. Were there to set up a new month. Jobs report will set the tone for sure. Ashley hard to believe september almost here. Lori rothman, thank you very much. Final trading day of the month. Oil snapping a threesession losing streak. Despite todays rally crude dropped 6 for the month of august. That is the largest monthly loss since march. As far as gold, it is moving in the opposite direction, soaring in august, as investors decided to flock to safety ended up nearly 4 . That is the largest monthly gain since january, closing out the month at 1316 an ounce. Maybe the north korean fears played out in the gold market. Ashley sixth straight monthly gain for the dow. Lets bring in todays panel. Scott martin, kingsview haas set management, kevin kelly, here in stupid know nonetheless from recon capital. Scott, begin with you, seems the economy is growing 3 according to the last reading. Earnings are growing, where are markets going to go . They will go up, right . Yeah, ash. Tell us what is happening last couple weeks, Economic Data points in our research that have been weakening over the summer as kids like to say, meh, yeah, that is technical term by the way, gdp number 3 . Nonfarm payroll number looks north of what, 250 tomorrow . That momentum building into the economy weve been waiting for for promises from donald trump eight months now. Ashley kevin, i was just looking today, jobless claims less than expected. Consumer spending picking up in july. Wages growing, even when we see a notback on the markets, the last incident involving north korea, not long before buyers jump back in . Is that the pattern right now . Where is the end to the pattern . Do we keep moving higher . There is no end to the pattern given the Global Economy is doing very well. When you take a holistic picture of the market that is where the companies operate. Technology is the largest sector. They get 41 of their 47 of revenues overseas. As china does better, europe does better, companys results will do better because the market is predicated on earnings and as earnings get bert theyre worth more especially in low Interest Rate environment. Look at 10year treasury, we hovered below 2. 2 on the 10year treasury the last few weeks. There is no other alternative to get in the best names and that is the u. S. Market. Cheryl you better invest, because youre sending money straight to uncle sam. The average american is spending more on taxes than food and clothes combined. According to u. S. Bureau and labor statistics. Many americans dont believe tax reform will pass this year according to new fox news poll. These numbers are pretty depressing. It makes me sad, cheryl, it doesnt get talked about very much. This is the u. S. Treasury department received record revenues last year as far as tax receipts, when we talk about the tax reform, hullabaloo, from the left and some members on the right, has to be revenue neutral, cant be permanent, blah, blah blah. This is terrible for the economy and individual business and taxpayers who totally need a break and that money goes back into the economy to create jobs and Economic Growth we have not seen for years. Cheryl kevin, big six, if you will, supposedly they have been working on tax reform since july, getting the devil in the details if you will. Steve mnuchin said, the treasury secretary, we are going to get everything to congress in the next few weeks. Yeah, just matters what congress does with it. Think about the border adjustment tax. That came out in january and that was killed. Because the tax code is 75,000 pages riddled with special interests, there will be a cadre of lawyers and lobbyists fighting tooth and nail to protect those interests. That is why tax reform will not happen. Im one of those eight out of 10 people. Cheryl really. Because it will take years for tax reform. Tax cuts, yes. That is more likely to happen and more likely to happen this year. You can look at precursor which was Reagan Administration where it took years and two different types of bills to get tax reform done. So for this administration to think they can get it done this year, only a couple of months, i dont know what planet theyre living on because the u. S. Government will extract 3. 5 trillion in taxes from u. S. Businesses and citizens this year, yet they still cant balance the budget. Were 20 trillion in debt. For us to think they can get tax reform done is far fetched. If they can dont though, they can say byebye to their positions in washington because midterms are coming. Scott, kevin, thank you very much. Byebye. Ashley rescue efforts still underway in texas after harvey dumped more than 50 inches of rain, hard to believe, in area of houston, killing 31 people. White House Homeland Security advisor tom bossert saying moments ago unfortunately well see the death toll rise. Some numbers for you. 100,000 homes were affected by the storm. 32,000 people are in shelters. 24,000 National Guard members are being mobilized to help in efforts in houston and surrounding areas. Texas Officials Say they could be activated for months. Many saying recovery effort for houston could take years. Cheryl you know, ashley as texas is trying to get back on its feet, a chemical fire that ignited this morning at a plant outside of houston in crosby, texas. This happened 2 00 a. M. Central time, 3 00 a. M. Eastern time. Executives at the plant are warning that the threat at the plant is not over. More fires likely to occur. Hillary vaughn is live in crosby, texas. Hillary, the bigger question is can you smell anything because that particular chemical is known to be dangerous if you inhale it . Reporter cheryl, we cant smell or really see anything from where we are here at the local Crosby Fire Department but what i can tell you is that officials have compared this fire to kind of inhaling the fumes of a campfire but in this case this campfire prompted the Mass Evacuations of residents all living within a a 1. 5mile radi. 15 deputies inhaling the fumes have been hospitalized. They have since been release and all are okay but officials are insisting these toxins and chemicals are not going airborne. They say the chemicals are interacting with each other when the temperature heats up. It spark as fire and burns off. But at this point theyre saying no one here is at risk. Here why this happened. Because the Chemical Plant flooded. Six feet of water. The plant lost power and their backup generators failed. Then they had a backup to that, liquid nitrogen. That failed. That was meant to keep the tanks with the sensitive chemicals cool because when the temperature rises, the temperatures get volatile, they interact with each other, they pop, explode and burn. That is what we saw happen at 2 00 a. M. Here is the problem, more explosions, more of these bursts are coming. They just dont know when because one of the tanks is burned off but there are eight others we are still waiting to see what happens to those. Definitely keeping our eye on that. Residents meantime until they have the situation staibizeed are banned from their homes. They have no idea when they will be allowed to come back in. Cheryl . Cheryl Hillary Vaughn live in crosby, texas, following that plant, those fires this morning. Thank you so much, hillary. Ashley we have breaking news for you, President Trump tweeting this just a moment ago. Thank you to all the incredible heroes in texas. America is with you, texasstrong. That says it all. Cheryl we have more breaking news right now. The Vice President is sitting down to talk with Governor Abbott of texas. Lets listen in for a moment. Saying thank you, thank you, thank you, for all that youre doing. [cheers and applause] i also want to introduce somebody who is a good friend of mine. A former governor himself but now the incredible Vice President of the United States of america, mike pence. [cheers and applause] thank you all for being here, im Vice President mike pence. Im joined today by my wife irkaren pence. [cheers and applause] we came by today to pay a debt of gratitude to all of you, and a debt of gratitude, to the outstanding, as President Trump said the incredible leadership of Governor Greg Abbott and state and local officials, firstresponders, from victoria, all over texas. Governor, thank you thank thank. [applause] thank you for being here. See you here, this church in the midst of a crisis, opened your doors monday and the convoy of hope and you come alongside neighbors an friends. I will tell you from the firstresponders, from your National Guard and from all the volunteers, many of whom are from here in victoria gathered here today, texas inspireing america. [cheers and applause] and i bring a message from president donald trump. [cheering] president was in texas just a few days ago. The president and first lady will be back on saturday. And as the president said, we brought with the cabinet behind me, the full resources of the National Government to bear. And the president told me just a few moments ago to tell all of you, texas, were with you. [cheers and applause] we will be with you today, we will be with you tomorrow, and as the president said yesterday in missouri, we will be with you every day until texas recovers and rebuilds stronger and better than ever before. [cheers and applause] the lastly, let me just say thank you, thank you to each one of you again for putting feet on your faith. Being out here on a hot day in texas. [laughter] showing the resilience that the president spoke of just a few days ago. The spirit of texas and the people of texas is inspiring the nation. The president said many times, when, when one hurts in this country we all hurt. Worry an american family. Thank you for looking after your family. I can pledge to you on batch of your president , our entire administration, Homeland Security, coast guard, department of defense, every agency of government. I know i can say on behalf of your great governor, greg abbott, all the officials at every level from firstresponders to public assistance, we are going to see our way through this crisis and the best days for victoria and the best days for texas are yet to come. Thank you very much. [cheers and applause] may god bless texas. Usa. Usa usa abu hamza almasri. Cheryl all right. Weve been listening to Vice President pence. He is on the ground in victoria texas, just outside of houston texas, along with elaine chao was there, former Texas Governor rick perry, now the Energy Secretary traveling. Ashley right. Texas Governor Greg Abbott. Really great to see that you do now have the officials going down to texas saying we are with you, were here to support you. As you know President Trump, we her from Sarah Huckabee sanders, a million bucks coming from President Trump. Ashley from his personal account. Texas inspiring america. That is so true throughout all the devastation, the awful flooding. Stories weve seen come out of this. People, neighbors helping neighbors. Dunkirk flotilla if you like of people rescuing people, not only from texas but louisiana, the cajun navy. The president telling the Vice President , pass on the message. We are with you. It has been very inspiring ive got to say. Cheryl it has. We should note President Trump will be back. He is going to houston on saturday. The first lady will be accompanying him. Gas prices are going to go up. Anybody that is considering raising prices above what would be considered to be appropriate need to watch out. Ashley Energy Secretary says there, says he is prepared for higher gas prices but were getting some good news, some good news at least. That was rec perry making people worried with that outlook, but Colonial Pipeline, the mississippi of oil, the river of oil that goes from texas to new jersey, that is the countrys largest fuel system, is saying its main line east of lake charles, louisiana, will remain operational, supplying gasoline and jet fuel and diesel to 11 states along the east coast. The texas part of that pipeline expected to be back online sunday. That is good news. Gasoline futures still ending the day up more than 13 . 2. 14. Up a whopping 25 for august, the largest onemonth gain by the way since may of 2009. That is having an impact at the pumps no doubt but joining me who better to talk all about this, andy lipow, from lipow oil associates. That seems like good news. There was a scare earlier today, we got the impression that the Colonial Pipeline was shut. This was very alarming word. That is not strictly true, was it . What exactly the pipeline was doing, we understand maybe from texas to lake charles was closed, right, but not beyond . Thats right. I think colonial sent out a very confusing trying to indicate parts was shut down, it came out as the whole place was shut down. You have it exactly right, ashley, Colonial Pipeline is taking Refined Products of gasoline and diesel of refiners in lake charles, new orleans, mississippi, delivering them to the southeast and midatlantic markets. Meanwhile theyre waiting for refineries in the houston area to restart their operations. Ashley we understand, quote, deliveries will still be intermittent from louisiana to the eastern states. With that in mind weve seen prices go up on wholesale level, retail level, up 10 cents overnight. Do you expect that to continue. How high will it go do you think . It will continue. I expect the National Retail price will go up four cents a fallon per day over the next week to reflect increase in wholesale level and retail prices. Wholesale level prices are up 50 cents a gallon since this event started. Ashley any word of shortages . That is kind of discussion that can get people running out to gas stations. We have seen long lines in dallas. Is that a rare occurrence right now . Its a rare occurrence nationwide. Dallas has been supplied by pipelines from the Corpus Christie area. Those refiners have been down for quite some time and getting Refined Products from the houston market. Some service is restored from the houston market to dallas. Magellan reversed one of their systems from oklahoma to the dallas market. Ashley on personal note, andy, great to here to have you in person. Youve been stranded here because of harvey hitting houston where you are from. You have a heck of a time getting back. What is the latest with you getting home . The latest with Southwest Airlines theyre supposed to restart full operations on saturday from harvey. I have a flight on sunday. I found out more good news, my car didnt get flooded because it was parked at the airport. Ashley there is always a bright spot. Andy, thank you for being here. We wish you safe travel back home. Cheryl there is worse places to be stranded than new york city. Ashley absolutely. Cheryl we have another big story were following for you right now, general electric, the company has been on a roller coaster ride since they announced jeff immelt would be replaced by John Flannery as ceo, but a investor could be gunning for a spot on the board. Charlie gasparino, Senior Correspondent in the newsroom live with details. Cheryl this is the activist investor that say, we were first to report helped push jeff immelt out of general electric, massive industrial conglomerate, one of the Great American companies out there. We know, nelson peltz, owns. 8 percent of the companys stock, that is still a lot of stock, puts him in top 15 shareholders is weighing a seat on the board. From what we understand from sources he may seek the board seat amid turmoil in the company. Why is this important . Nelson peltz is somebody that constructively tries to engage companies, pushing them in directions that enhance shareholder