You can see 87 points. Bernie sanders is the front runner for the dems, does that mean that chance of broken convention are going up, democratic insider robert wolf will be here to game it all out for us, the deadly coronavirus playing havoc as the consumer economy chugs right along, oh, yeah, less than an hour to closing bell, im Ashley Webster in for liz claman; lets start the claman countdown. Ashley well, lets get some breaking news right at the top here, u. S. Jury on friday has found Michael Avenatti guilty in criminal trial accusing the celebrity lawyer of trying to extort nike out of millions of dollars and to defraud a youth basketball coach that he represented. The lawyer was all but unknown until 2 years ago when he began representing the adult film actress Stormy Daniels in lawsuits against President Trump and making hundreds of television appearances. Lets get back to stock news, smile direct club by the way plunging after an nbc news story that ran that listed complaints related to treatment outcomes from the companys dental liners, small direct called the coverage a misrepresentation and says theres no investigation into the company by regulators despite statement the stock off 3 and 3 quarters percent. Gains were driven by demand in data president clinton, up nicely, up 7 , pinterest coming off lows after facebook similar new app, some call it copycat app, not a major concern, pinterest allows you pin idea for inspiration for home, style and other categories, pinterest down 1 and a half percent, ebay getting a bounce after a completed sale of stub hub and expanded share of buyback plan, plan,ecommerce giant to expand to 1 and a half billion dollars to 4 and a half billion by using the proceeds from that sale and you can see ebay up 2 and a half percent, tesla priced its 2 billiondollar offering at 21 discount from its alltime high, the maker plan to go sell 2. 65 million shares at 767 each, the offering likely will hit the market on february 19th, tesla down slightly in todays trade. All right, lets get to the white house, President Trump speaking to members to have Border Patrol council at this very moment, but its tax cuts that have really got the white house buzzing, earlier white house economic adviser larry kudlow suggested that the president , indeed, wants to see tax cuts 2. 0 by september, if you remember he confirmed with liz claman when she was at the white house last month that, indeed, the president wants the tax cut proposal before the election, Edward Lawrence live with details, edward. Administration official that they want to put universal savings accounts in the packages, what those savings accounts would do, it would allow americans to invest tax free, over 1,000, a portion of the income outside of 401 k s, people making up to 200,000, also making tax cuts that are currently in the tax code permanent for americans as well as a possible 10 middleclass tack cut Going Forward before the election and as you heard, they want to roll out this plan in september before the election likely two months and we will get criticism, though, here is kudlow about it this morning. In the meeting in the oval i guess 2 days ago he looked at me and said lets get it out by september, ive been consulting with the house colleagues, my great friend kevin brady, i will be consulting with senate colleagues, weve got some great internal ideas and other outside advisers. They are talking about this but a plan like this is likely to get a lot of pushback, you would need the house of representatives to pass this, democrats not in the mood to really help the president or talking about tax cuts at this time, the Vice President has also talked about this today, about tax cuts 2. 0 coming through and the president , though, you know later on this afternoon ashley leaving more maralago, another interesting point, hes going fundraiser on saturday, one ticket will be 580,000, his most expensive ticket for his event but the big news at the white house tax cuts 2. 0, again, universal savings plan where he could have portion of your portion of your salary tax free invested. Ashley thats a Good Campaign platform, is it not, Edward Lawrence, the president speaking right now, we will check in with him as he speaks to Border Patrol agents and we are keep an eye on that for headlines, of course. First up new brands issuing 2020 sales and profit forecast below wall street expectations saying that thats because of a 1 hit they believe from supplyrelated issues from the Virus Outbreak in china, the consumer manufacturer also said that workers are returning to work after supply factories were shut down, brands up 3 as you can see in todays session. Online travel services site, expedia has suspended its 2020 forecast as it assesses the impact of the coronavirus on its operations, the stock still going up very nicely, though, despite all of this, expedia up 13 bucks or 12 , world caribbean canceling 18 cruises in Southeast Asia after initially canceling 8 cruises out of china last week, the cruise liner warning the canceled cruises will cut its earnings per share, they dont know how much but the stock down half a percent. On the heels to have worsening crisis Partner Global cio scott is calling the impact of the coronavirus as, quote, dramatic, he went onto say that the Financial Markets are showing a cognitive distance from economic reality and he says it will eventually all in very badly. So is he right or is he just fearmongering . Lets get to our traders and get their opinion, Timothy Anderson at the New York Stock Exchange, tim, is that fearmongering or are the markets blowing off the potential impact of the coronavirus . I just think hes doubling down on a very negative view hes had of the economy and the stock market for at least 3 years. So im just not im just taking his im applying to model, absolute low end, we are throwing those out and look at a few other things. A lot of positive developments on the economy. Ashley yes. At least end of this year and probably to 2021 depending on how the election goes. Ashley chris at the cme; is this a blackswan event that we are taking lightly or are markets cautious but acting reasonably . Well, i think if it impacts your Family Member its a blackswan event, right, the people that are getting sick there, its not good for them, i think we are guilty of fighting the last war, like the generals fight the last war, everybody keeps looking at what happened with sars and you dont see that happening, and this market as long as the fed and the bank of china are there to backstop it, why would you want to be short . Ashley yeah, its a good question, phil flynn, we are also winding down the corporate earnings season, pretty solid i would say, and to touch on something that tim talked about, the Economic Data pretty good, certainly Consumer Sentiment right around 15year highs, all of this despite the coronavirus points to a very positive outlook for the markets, right . Absolutely, i mean, tax cuts 2. 20 coming soon to theater near yaw, you dont want to be shorted of that kind of stuff. I absolutely do not. Look at this market, it has been incredible, thats why the guy from goodman is a little frustrated right now. Ashley yes. I have a Global Pandemic and i cant get a break in the market, give me a break, yeah, i think absolutely, you know, listen, this is showing how solid the economy is because its been able, just think of whats to overcome in the last 30 days, almost a war with iraq, we had a Global Pandemic, wild fires, i dont know what he can throw to get it to go down, now you add in the high possibility of tax cuts, you dont want to be short of this thing by the brakes. Ashley so far so good, gentlemen, big show today, run out of time, chris, tom and phil, thank you, gentlemen. All right, the closing bell ringing in 50 minutes as visa takes the lead on the dow, shares hitting the alltime high, as you can see up 253 at 20993, mayor mike making waves from twitter wars to memes to campaign trail, could the billionaire media mogul actually pull up the unthinkable and bed biten, bernie and buttigieg, democrat insider robert wolf is next, the claman countdown is coming up next. Everything your trip needs, for everyone you love. Expedia. The new rx. Crafted by lexus. Lease the 2020 rx 350 for 419 a month for 36 months. Experience amazing at your lexus dealer. Lease the 2020 rx 350 for 419 a month for 36 months. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. 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Ashley democrat president ial candidate Bernie Sanders campaigning in crucial state of North Carolina today getting a jumpstart on super tuesday as its one of the 14 states set to vote but democrat primary remains in confusing state at the moment, one forecast model predicting that the vermont senator is the most likely person to win the democratic nomination while the other model says, theres a chance of there being no pledged delegate majority and we know that could lead to a contested convention. Wouldnt that be interesting . Our next guest is a democratic insider who says its clear the moderates are the silent majority in this race, the former chairman and ceo of ubs americas robert wolf in here live in the studio, robert, we talked about the brokered convention the last time we talked together, this is a real split in the Democrat Party and how is this going to play out, do you think . How its going to play out is one thing we just dont know. The 40 to 45 in the populist left lane and 55 to 60 in the moderate lane, everyone is a progressive in the party, everyone is for gun reform and Climate Change and Immigration Reform and health care as a right but the question is how do you coalesce around one person, we are not finding that, we were speaking about iowa and new hampshire, the one thing that they normally do they did not win other field n2008 it was between hillary, obama and edwards and 2016 between bernie and hillary, today we may have 6 or 7 candidates going to super tuesday. Theres a belief that as bernie certainly getting a lot of headlines right now that he will get torpedoed much like he did by Hillary Clinton in 20166 because the 2016 because the belief that bernie cant beat trump. The Conspiracy Theory that hillarys people torpedoed bernie isnt it true. Ashley Podesta Emails showed they were not happy with bernie. Not surprising its a competition. Thats for another topic. Ashley indeed. Away from that, theres a nervousnesses with someone like bernie being the nominee. Ashley too far left . The country is not raising their hand for medicare for all. The Democrat Party this time around will absolutely unify whoever the candidate is, i would say they like bernie more than trump. I would say that differently more than President Trump. Ashley fair enough. Can they coalesce and get behind a billionaire Mike Bloomberg, you know, he could end up being the nominee . He could be the nominee, theres no question that, you know, his money is making a difference right now, hes in 15 in the national polls. Ashley how does that sit with sanders and warren who take every opportunity to bash the very rich . Right now, its a competition, primary competition and people should compete and they should vet bloomberg, he has not been on debate stage yet, you know, they are hitting him on some of the past things, that being said, we have a whole primary season to go through, then we have the convention, if Mike Bloomberg is the nominee, my view is people coalesce around that, if its bernie the nominee, they will coalesce around him. No one can get the 1900 delegates. Ashley we have not mentioned up to now which leads me to believe hes done joe biden. I totally disagree that hes done. I think he will win in south carolina, texas has him number 2 and thats a good sign for joe and hes raised a decent amount of money. Ashley is he up for the rigors of the campaign, i mean, look, im not going to harp on his age, hes had a lot of gaffes and hes gaffe prone and he struggled out there. I think when youre on the debate stage you wish you had ashley sure. I ran a big bank, we call them wolfyisms, two words together and i say, oh, my god, what a gaffe that is, weve all made gaffes, listen, theres nobody who has been on the debate stage that i think can actually unify the country more today than someone like joe biden. Ashley i need a lot of [laughter] Ashley Robert wolf, i wish we had more time. Thanks for having me on. Ashley lets take a look at the big board for you, how is wall street doing going into a long weekend, of course, president s day on monday, maybe investors wanting to take money off the table as they head into a 3day weekend, the dow up 114 points, getting squeezed, second straight day as they drop Credit Rating and the move coming one day after 9 brokerages cut their price targets on shares after the packaged food company lowered fouryear earnings, kraft heinz down 4 and a quarter percent. Coming up next, cold february day in new york; but in miami its all about cool waves and hot boats and check out this dude, Cheryl Casone at the miami boat show to make your winter blues just melt away. The claman countdown will be surfing and coming right back. A new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk 100 online car buying. Carvanas had a lot of firsts. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. 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