Thats right, 50 lanes merge into just 20 lanes. We thought we had it bad here but check this out. This was hours with these people at a stand still. We show you this to make you feel better about things about yourself today. Some people abandoned their cars. That used to happen years ago in china. Maybe five or six years ago and then suddenly people would just walk away from their cars and into the villages. But wow. This makes me feel better about my commute today. You dont live in l. A. That doesnt look a lot different from the 405. My first thought was china and Second Thought was l. A. But what is the widest highway . How many lanes . Not 50. But wide. Like 5. Like 5. And across on both sides but yeah, 50. So lets get to the u. S. Stock market. Were looking at what is potentially setting up for the best week since february for the dow and since december for the s p 500. This morning things were flat but we did see gain across the board yesterday. Well continue to watch this. A couple of stories were watching this morning. Falling short of estimates. Company hit by slumping Commodity Prices including aluminum. The stronger market not helping things. Shares down on that news. Next month they announced they would split into two companies in a bid to revive the stock a little bit. Also european Freight Company buying u. S. Based rival uti worldwide. Doing that for 7. 10 per share in cash or about 1. 4 billion to roughly 50 premium to yesterdays closing price. Elon musk has never been afraid to speak his mind and today no exception. He brushed off concerns that am could become a new car competitor. He called apple the tesla graveyard where employees that fail at his company to go work after taking a jab at the apple watch. He then went on to say cars are very complex compared to phones or smart watches. You cant just go to a supplier like foxconn and say build me a car. It almost sounds like they struck a nerve with that. I dont think ive ever heard him say anything that pointed. Ive never heard him that strongly worded against another company. People peak sometimes. You were talking about how anybody that talks about elon musk talks about him in these tones no matter what hes talking about. Thats weird. I understand that the iphone is not a car but if i were to look at what transformed the entire world in terms of the way we act, okay i like your electric car but id like it to go 300 miles. Y you havent done an iphone, you didnt invent the personal computer. Im very impressed by elon musk. Look at all the things he thought of that didnt happen. He has no right to throw stones at am. Im not going to knock him. You knew steve jobs. Elon musk is not a steve jobs yet. I think hes getting there. Hes in training but hes not there yet. You know who his best friend is. Who . Larry paige. So google is making cars the whole time and you never heard a word about google. Google is another one compared to tesla at this point. You have work to do to rise to the point of how transformative google has been as well. Hes had a couple of bad experiences. At least hes trying new things. Thats fine but the other person, his history is already complete. This is in training. How old is he . 44 years old. Cofounded paypal and tesla and rocket ships. You love people about inventing themselves and creating something out of nothing. I think that you can jump when too many people defer everything you say, they write it down as its coming from, like your infallible and you can jump the shark and then hopefully theres not a humbling experience on the way. Hes had some humbling experiences. A Company Almost went out of business. Like two hours left before they were able to save the company. Maybe its just trash talk. Thats why i think it has maybe hit a little close to home when you react that way. Ill have to check twitter. Which camp has more more of the wacos. That ought to make everybody happy. Good. I got them both. Commodities giant glencore is cutting 500,000 tons of global zinc production. About a third of the annual output. Prices dropped 30 to five year lows. Gap shares are underpressure. The retailer says september same store sales dropped 1 and watch shake shacks stock today, they will convert about 20 billion shares into class a shares. It will let preipo Investors Cash out. New analysis reports suggest that mac sales are slowing to the lowest rate in two years. Shipment of the apple product dropped 3. 4 year over year. It marks the slowest growth rate of am computers since 2013. Turmoil in the Republican Party. Kevin mccarthy dropping out of the race for the House Speaker at the last minute stunning just about everyone. John harwood is covering the story from d. C. What the heck happened . What the heck happened was that the House Republican caucus came face to face with the fact that it is in chaos. You have a faction of members that dont know how to govern or arent terribly interested in governing and they collided with those who are and Kevin Mccarthy found that he did not have the support needed to take over the reigns from john boehner and we went into yesterday believing he would be dominated by the Republican Caucus and instead he came out and made this announcement which took everybody by surprise. The one thing i always said to earn this majority werer is haven was confidence. Ill stay on asthma joir majori but if were going to unite and be strong we need a new face to help do that. So nothing more than that. Now the reality is its not a new face they need for the Republican Caucus. They need the faction that has been making it difficult to govern to acquire the maturity to play with others and thats the problem. Paul ryan who is, people are trying to draft into this job may for a short time be able to paper over that gap but he would face the same thing that john boehner and Kevin Mccarthy did. He made a deal with patti murray on budget levels. The conservatives did not like that deal. Paul ryan is going to have to make more deals like that if hes going to be successful as long as we have a divided government and until the Freedom Caucus and people like them come face to face with that theyre not going to solve the problem. I saw somewhere john, i think it was in forbes where they basically say this is parliamentary politics. What the republicans are dealing with is a loose coalition of 2 or 3 different parties. I dont know how you resolve that issue or why paul ryan would be able to hold it together for much longer than mccarthy or boehner would be able to. Hed be able to hold it together for a little bit longer because of the credibility he has as a conservative. People dont doubt where his heart is ultimately but this is about maturity and the people who dont recognize the limits of the political power they hold in a divided political system, if they dont acquire the ability to recognize that then the republicans cant do their business. They can do it in the senate but they cant do it in the house. The guys in the freedom, even congressman brat they have their own guy that they like in florida. Same name as whats his name, Daniel Webster . Is that it . Yeah, dan webster is not really their candidate. Hes a place holder. Yeah but then, it was saying him but when they said what about paul ryan, said absolutely. Called him transformational and could go in but doesnt sound like hes going to. All the stuff thats interesting about how split the caucus is, that is interesting but i think theres more to this story than were reporting on and you know that there is. You saw the email sent and the letter sent from the gentleman. Are you talking about walter jones and all of that . Yeah, thats fine and i dont doubt that there may be other layers to this. Theres other layers to this and just his demeanor. Fair enough joe but thats not why john boehner stepped out. No, im talking about mccarthy. I understand. But until you resolve the issue that forced boehner out you do not have a functions caucus. I know. I understand that. Whatever mccarthys problems and the same thing is going to hit paul ryan again no, no thats not what im talking about. Okay. Im talking about the inability of certain people to accept the limits of what they can do and what they cannot do. When boehner stepped down everybody read this, the knee jerk reaction that well get through the debt ceiling and get a budget extended that carries us through the end of the year. What are people thinking at this point . Boehner agreed to stick around until the next speaker is found but what happens with this whole idea of being able to shutdown the government at some point or another . The irony becky is that by extending this chaos for a longer period of time into the fall its going to keep john boehner on the job and make it more likely that he disposes of the issues and avoids the shutdown and the debt limit crisis. I think that john boehner as a patriot and somebody that sees what his party needs to get done and avoid is likely to resolve a yearlong budge deal and raise it through the 2016 election and when he walks away and hands this terrible job to somebody else he may have, as he put it the other day, cleaned up the barn a little bit. Thank you. Well talk to you again soon. Lets turn back to the marke markets. Melting up again yesterday. Its down 30 or 40 points. What reason . Its been moving higher ever since it turned around. Its the weird issue where it helps the energy stocks. Its been up since friday. Its been up since the fed is back. We are back to the west week for the s p since december and the best week for the dow since february. Yeah, october is just beginning though. It aint over yet. Were back on the you dont watch fear the walking dead but you see someone trying to go through withdrawal. Its horrible. You throw up and youre sweating and you get a little more and you seem fine again. Youre feeling good. Functional. But youre still on the drug but youre still feeling better. Joining us is lou green. David voi. Really lou, thats, you know, were getting more mileage out of easy money again . Thats probably the case because after the fed took a pass in september and then the jobs data was, you know, the worst looking the deeper you look into it and people are pushing into the future the idea of when the fed is going to raise rates. However they havent backed away from the idea that theyre going to raise rates therefore i think theres limited upside just like there has been limited upside throughout the last six years. The market goes up when the fed expands its Balance Sheet and the s p is where it is now so thats the tricky thing. If there was to be a suggestion of more qe then you put the after burners on but right now i think that just delaying a rate hike is probably not enough to push us back to the highs. I have to get used to the idea of even thinking there could be more qe. So then wed have to start watching for when we could end the qe again and wed be in the waiting game for ending the next round of qe and then start the waiting game around if we would ever go up. The one thing with waiting for the end of the qe, that hasnt played out. The market over the last six years as the fed Balance Sheet expands the market goes up until its done. Do you really think after burners could go on . Thats been the pattern for the next six years. David where do you think we are right now . Is the market going up on easy money or going up because we still have the prospect for a pretty good economy compared to the rest of the world . I think its the third option. I think its were going up because the fed stayed on the sidelines and took pressure off the u. S. Dollar and theres a lot of fears that you would see them rush out of emerging markets and that didnt happen until the fed meets again. I dont think the market needs anymore stimulus. I dont think we need anymore qe. The u. S. Economy is okay. This is an International Issue and its all related to the dollar in my view. So this rally can extend as long as the dollar stays in the range its in now and market is going to go back down. Part of the reason that oil has gone higher. Not just supply and demand but also the dollar. So david, were you fortunate enough to deploy any cash when we were threatening to break 16,000 . We most recently trimmed our equity exposure a little bit. Were fully invested but we look at the fundamentals and were seeing economic deterioration internationally of course but also at home and since the fed met you had a weak jobs number and weak manufacturing and exports. Wage growth, 2. 2 again so we slowed down since the fed met which suggests they wont raise rates until march. I dont think the fundamentals support this rally. Were enjoying it while its lasting but i dont think its sustainable until you get more traction. Well have to see that starting with china in a couple of weeks. Big round of data points coming out of china in the next couple of weeks. Thats going to be important. Would you say youre in a mode where youre selling rallies and not buying dips or would you just happen to trim a little . Would you trim more . I would trim more if i thought china was slowing down even more. Of course you can speculate what the real growth rate is. If we felt it was going to 5 or maybe to 4, i would say yes wed probably have to think long and hard about trimming more. Theyre mad at the colonel. I know that. I saw what happened to yum brands but thanks. I got a scare when i saw that traffic jam. What if every Single Person in china get ace car . Even if its electric cars. You need to power the grid to charge the cars. If everybody in the world is driving a car not everybody in the world can drive a car. Why cant they be like you . You dont have a car. I dont. Youre not part of the problem. Im not. You put your money where your mouth is. Exactly. Youre a good citizen. Theyll get uber eventually. No, they already have uber. They do. The rock and roll hall of fame is about to get some new members. Nominees for the class of 2016 Just Announced well bring you those names next but first as we head to a break, take a look at this date in history. Actions. They speak louder. We like that. Not just because were doers. Because were changing. Big things. Small things. Spur of the moment things. Changes youll notice. Wherever you are in the world. Sheraton. Welcome back. Rock and roll hall of fame announcing class for the 2016 nominees. I like some of these other ones. Good because the ones that we were talking about the acts eligible for induction, the cars should definitely be in. Chicago. I cant believe chicago is not in. Cheap trick, two hit wonder. No thanks. Deep purple should be in. Janet jackson thats who youre listening to right now. I would defer to andrew on anything jackson related. Does janet rise to the level . Id give it to her. Absolutely. I know you like michael. The jbs. Who is that . Not sure. Steve miller, i know becky likes i like steve miller. Nine inch nails. Thats awesome. Come on. Nba. Definitely. I cant believe theyre not already in. And the spinners. The spinners, you probably dont remember but they were big. I cant believe the cars arent in it. You dont want Janet Jackson. You think nwa should be in it. Is it rock . No. I dont know how it works. I dont know how it works either. With janet i dont know how it works either. Theres an 800 person voting membership. So its like the Baseball Hall of fame or something. Okay. Yeah. Yeah okay. I dont know, andrew. How many Janet Jackson songs can you name . I can name zero. You were just listening to one. I know. But i dont know it. Its janet, miss jackson if youre nasty. There it is. Okay. I remember the malfunction. Thats what you remember her for . The malfunction with Justin Timberlake at the super bowl. You dont remember that . I do. I just described it. Well, you acted like you didnt remember it. But you would have had to of been watching football to see it. I watch for the commercials. A little bit of news this morning outside of the music world. Finance ministers and central bankers are gathering for the imf world meeting. Thats where we find jeff. Good morning, andrew. The message now at this Imf World Bank meeting has been we risk another Global Financial crisis if policy makers dont Work Together and the sub text to this has been a message to the Federal Reserve not to move on Interest Rates too quickly. Christine lagarde saying theres too much debt and leverage in emerging markets. Very much the focus on the American Consumer still continuing to pull the Global Economy along and the Federal Reserve not doing anything to damage that. I was in a late night briefing with the treasury secretary who has arrived here now and he said you know what, there is the capacity and the will elsewhere in the world to try to pick up some of the slack here and he pointed the finger at europe and asia and said this is not a job that the United States needs to do alone. We need to see those countries also engaging more aggressively in creating demand and you know what, he also turned that twin message of the capacity and the will toward congress and said there are a number of issues domestically where we need to see Congress Pick up the slack and he pointed out tpp in particular. Of course weve seen Hillary Clinton come out in opposition in recent days to that but he said we do need to see ratification on that and he also said we need to see the debt ceiling raised. The Exportimport Bank back in business and funding for Infrastructure Projects but the point of jack lews message was to focus on the imf and the world banks view that the u. S. Needs to be doing more here. Saying the rest of the world also needs to get a little bit more in the game and demonstrate the