Theres an me in team. Always has been. Well, im happy to be here. Youre fired up. If youre up at 4 00 a. M. , you might as well get fired up. Why not. If you put in that what time did the alarm go off . 4 05. So you im a 3 handle. Me, too. You say you can do this. You did it once. Try five out of five. I can barely do this. 52 out of 52. Youre a stud. I say it all the time. We have a big market day. Good to have you here. A check of u. S. Equity futures. This is what weve been matching all morning long. This could be the biggest move in the markets. About a half percent move or so. This would be on the s p 500. That would be the biggest oneday move. Weve been 0. 3. The dow looking to lose 100 points at the open. The nasdaq looking to lose 24 points at the open. The volatility index is surging this morning. Thats an interesting turn of events. Up by 11. 25 , almost 12 at this moment. Action in asia, big development. Here is long eem is snapping a sevenday advance. The nikkei finishing lower bay half percent. Hang seng down by 0. 2 . As for european equities, we have got red arrows for the dax as well as the cac down by a half percent a piece. The ftse 100 managing a slight gain here. Italy and spain feeling pressure. Look at the action in the tenyear yield. This is telling as well. People are reaching for safety this morning. We do have the tenyear note, 2. 292 . I believe that would be the lowest since early may. 2. 292 . So, 12 , 11 on the vix, its like 1. 17. Yep. So the low, that 25year low was 9. 56, youre somewhere at 11 and change today with the yearly high of 27. Big move, but from historically levels. Well see if this amounts to anything. Who knows. Nobody has even seen the meomee. Thats right. Great to have jim jordan come on. Senator thune coming on as well. Reading the cut issscuttlebutt. Democrats think this rises to something. If you express the desire, i hope you see clear to let this go, thats a different thing than quid pro quo. This is after he resigned. At the time, even the Washington Post wrote a piece that said in terms of actual criminal or elicit behavior, there wasnt any. It was that he lied to the Vice President. And they looked at what flynn actually said, and there was nothing there. So at that time when trump in february, when he already resigned, unless there really is a russian connection, a collusion, a collusion with the administration, if thats why he wants comey not to pursue it, thats one thing. If it was just that do you think that matters . I think thats the key issue. I think the fact that he if you want to make the argument that him inserting himself into this is obstruction of justice, it doesnt matter if the charges are truly substantiated or not. Its the notion that he is simply stepping in. Think about the motivation. This is a good guy, he shouldnt have lied to pence, he shouldnt have done that. Thats one thing. I hope you see fit to let this go, im tired of it theres no russian connection, or if he knows, wow, he had some knowledge that flynn was coordinating a wikileaks who knows what people think the fire actually is. If thats the reason for trying to drop it, thats a far cry from trying to say the jump would be obstruction of justice could be the basis for impeachment proceedings. In the closer term it could impede the republicans enacting the agenda. I would say 100 points, even though like, weve been questioning it every day. Okay, you got the leak of the now looks like from israel. You have that. You get 20 points. You get this, you have comey firing. You get 20 points. Nothing at that point looked like the market was sitting up and taking notice. You have 100 points. 100 points is a 100 points. Its not 500 points. But in the context of the volatility market but a constitutional crisis, when you actually start to think theres a a something doesnt this speak to him being a political neophyte, which is why he got elected in the first place . Words have meaning. I learned that back in the day on wall street. His words really dont have meeting. Im not surprised he had people leave the room and said, look, hes a good guy. You are going to let this it does not surprise me he said that. And if he did say it, which theyre denying the white house on background is denying that was said. This begs the question, if there are tapes right. Release the tapes. Right. This would be a grade time. The other thing, well bring in john harwood. If i were comey, and if at the time that the president told me, if i saw that as him trying to obstruct justice, and telling me to drop it, i would have resigned or immediately have told someone. I dont know if i would have waited however long. If it rose to the level of what were talking about here, then comey just did he tell the assistant director . I dont know. John is listening to all this. John harwood is in washington. Lots of questions. We need the memo, i guess. We probably need comey to come and talk to guys in kochcongres. And we need his colleagues who we are advised by comey associates that he did advise colleagues of what his conversations with the president have been like. We have been building for this moment for more than a week, ever since President Trump fired fbi director comey. It got a little more serious later in the week last week when he did an interview with lester holt and said he had been thinking about the russia investigation. Yesterday we had the news that james comey kept con tem rain u contemporaneous memt mos of the conversation with the president and one of them said can you drop this the white house put out a statement saying while the president said that james comey is a goo and d and decent guy, d not asked comey to end that or any other investigation, but there was a markedly different feel to the reaction from republicans. Jason chaffetz immediately put out a statement saying he want all records of james comeys memos and conversations with pem at the time. Chuck schumer went to the senate floor and urged other republicans to inquire deeply into this as chaffetz did. Concerns about our National Security the rule of law, the independence of our nations highest Law Enforcement agencies are mounting. The country is being tested in unprecedented ways. I say to all of my colleagues in the senate, history is watching. Whether or not the ground which has been softening under President Trump gives way and you have a flight of republicans towards a most tposture like ja chaffetz and john mccain saying yesterday this is approaching watergate levels, in addition to the question of President Trump on the republican agenda its not possibility in washington for a president to be fighting for survival in office and to be pressing an ambitious legislative agenda at same time. Just not going to happen. So well have to watch and see whether or not President Trump can somehow engineer this blowing over as opposed to consuming the entire town for the next several months. John, there are a lot of people that are looking at like, what chaffetz says, i didnt interpret it as what you said. I interpreted it as saying he wanted to make sure comey obviously it was read to the New York Times reporter. They dont have a copy of the memo. He wants to see it to make sure it said that. I didnt see that as him getting ready to throw trump under the bus. Investigate. Schumer, we ive known schumer a long time. Likes cameras. That was very dramatic and everything else. Mmhmm. But heres the thing. Democrats, if it is obstruction of justice, they will try to prove that. Theyre like a pit bull on the throat of prey. If it rises to that level, fine. At this point, saying i hope i hope you see clear to drop this, hes a good guy. That would be a tough one if there was no quid pro quo, if there wasnt ill fire you if you dont do this, or im ordering you to drop this probe that would do it. Saying its my hope that youll see clear to let this go, i dont know whether that rises to the level that where where that would happen. And if the memos are produced thats a he said he said. Right. And the tape wildcard. I was trying to figure that out, comey calling the bluff, i dont believe you have tapes. If you do have tapes, this is what is said. Theres all these nuances to it, too. Yes. When you talk about the consideration of what james comey wrote and what President Trump did, its possible theres no tapes and its the president s word against the fbi directors memos and his word. One question is how would that go in a criminal proceeding with a jury. And the other as a political matter, if youre a member of congress trying to figure out whether to support your president or not. All of that will be subjectively determined by the mood of the republicans in congress. What we saw during watergate was what finally brought president nixon down was not news that he had or proof that he had directed the watergate breakin. Because no such proof ever s surfa surfaced, but him talking to his chief of staff about dissuading the fbi from going forward. Right. Its a you know it when you see it type of thing. John, one thing democrats have done, they went with the i word early. I think january 21st was a little early to started talking about impeachment. Theyve been talking about it. When they had nothing, the entire time, maxine and whomever. So when you Say Something, and you say the i word. Weve been hearing it for the past 120 days. The other thing, we have to figure out you remember that poll, 92 , 94 said i have seen all this, i would still vote for him again. That was before the last two, three weeks. During the campaign we had a tendency to say, thats it. Second amendment with hillary. He just asked about the hacker. Every week, we had something that was going to derail his candidacy. We saw that the voters felt differently than what the echo chamber in washington felt was significant. I dont know whether its changed from 92 or 94 , but i wouldnt assume that the people that voted for him are when they hear i hope you see clear to drop this, whether that rises to impeachable the question is not the core Trump Supporters who believe him under circumstances its a high bar to impeach a president. No question. But republicans, they have a special election in georgia, midterm elections next year. All of their careers are on the line. So theyre going to be making a judgment against that back drop. The people to watch are republicans or people who lean republican or senators up in two years. But the people who voted for President Trump, who might peel off. You had corker mccain, graham. Who two days ago the white house was in a downward spiral. One problem for the president , as this is played out with the highest attention possibility, james comey has a stronger reputation for telling the truth than President Trump does. You mentioned the wall street journal poll a little over a week ago what it showed was that only 25 of the American People said that President Trump gets high mark force being honest and trustwort trustworthy. That goes to how people will process this information. But if the exact quote that na theyre not even copping to at this point, i hope you see clear to drop this even that quote. Its the deft is ready to go quickly on the i word. The question is not left. The question is the right. Its been resist. Resist. Resist. In their view its been an illegitimate presidency from day one, november 9th. Nothing has changed there. Thats true. Thats why the people to watch are those republicans. 2018 senators. In the house, theyre all 2018. Every one of them. What a system. John harwood, thank you. The markets are a story today. They are, thanks in part to this. Look at vix. Its showing signs of life. Surging by just 11 . Were almost at 12 right now. Joining sus caus is kathy wood paul hickey, and our guest host for the hour, guy adame. Kathy, you are in the camp that the market gains have been made in the back of fundamentals, improving economy, better picture for earnings. Any dip because of political whatever you want to call it in d. C. Should be bought in your view . Yes. Weve been watching the vix like everyone else. And i think the complacency out there, its known as a fear index because since the tech and telecom bust it has always heralded when its at this level a correction. Prethe te the tech and telecom the vix was going up in an up market. The politics now creates another brick in the wall of worry that were climbing. Yes, we think the fundamentals are terrific. Evenmentals are the drivers, politics could present a headwind . It has to have some or the of impact or not at all . Its been part of this wall of worry. The la every step of the way theres been a crisis. We need to keep contemporaneous memos. I get confused, what was it back then that we were worried about. Are we done with the leaking . Well who knows. If you were cynical, you could say at least were not talking about the leaking of Israeli Intelligence anymore. Changed the narrative . Yeah. Moved on. Whats your take, paul . When you look at washington, theres a lot of partisan disguised as subjectivity here. We saw it eight years ago. Republicans were against the democratic president. Now democrats are against the republican president. So you take a step back from washington. We had a great earnings season. Weve seen earnings beat since 2010. Revenues are the best since 2013. Guidance more companies are raising guidance than lowering guidance. If theres a worry about this trump agenda derailing stocks, its not there. When luke at stoyou look at sto performance, outside the United States theyre performing more than stocks inside the United States. Two months ago i was asked if the market if the trump policies dont get passed l that hurt the market . Most of that is not priced in european markets are outperforming the u. S. At this point. Its more of a distraction. When clinton was impeached it was 1988 1989, and the markets did well then. President obama, say what you want about him, people thought he was the most unfriendly market president. When he took office, the s p was 700, he walked out at 2300. Say what you want, his report card was outstanding. Im with you. I could be elected president , i think the market would be rallying. Its a continuation of the last seven, aibt yeeight years. Im not so sure. Yeah, ruchlt. We looked at getting back to even does not mean he walked in and which policies orchestrated that gain in the market . Which ones . Thats the exact point. None of them. Thats my point. It doesnt matter. I think in washington, it is not the be all and end all of market performers. We have to leave it there. Thank you very much for sticking around. Coming up, a mountain climber my knees got shaky preparing for this. Tommy caldwell made history in 2015 when he climbed he and his partner climbed the hardest rock, the most vertical 3,000 foot el capitan and it was all followed by social media. Dont look. Im afraid. I have the gene. Tommy joins us next on how Live Streaming changed the climb and well talk about the climb itself. Dear predictable, theres no other way to say this. Its over. Ive found a permanent escape from monotony. Together, we are perfectly balanced, our senses awake, our hearts racing as one. I know this is sudden, but they say if you love something. Set it free. See you around, giulia a used car, social media has had a transformative effect on politics but also changed the sports world. Were not just talking lebron james and his 35 million twitter followers. Social media has become a part of less mainstream sports. We are joined by tommy caldwell. You may remember him from when was that . 2015. World renowned rock climber. After the time that free climbed yosemites National Parks dawn wall of el capitan, the subject of an upcoming documentary and caldwells new book is called the push. Just preparing for this, looking at some of the shots, just googling it. I got nervous. My knees get weak. They set up a that is your weakness. It is. Im afraid of heights. What is that . Youre in the bed . You look like you are just lounging, youre at its called a portaledge. You build that, and you can sleep there . Youre perfectly comportible there . You haul it up the wall with you when you climb. Its like your little nest up there. You took seven years to plan this route going up. Would go up and see if this was the right way to go, repel back down. And map out a path that would get you to the top successfully. Yeah. It was about a year of swinging around, peopfeeling the holes, s the specific route and six years practicing it. The climbing is so difficult you have to execute it perfectly. Its like a gymnastics routine. Its free climbing. There are still ropes, but only to prevent a fall. In other climbing, someone can pull you up. Is that the difference . Historically when you climb el cap, you aid climb, so you climb the equipment. Free climbing is climbing the rock face. Like if you go in a climbing gym, thats free climbing. Where you put tsecure the ros to be part of the structure of the mountain itself or can you you carry up a rack of different shaped pieces of metal that fit in the cracks in different ways. You place that. Sick. Im more interested in the the social. No the mental preparation. This takes seven years. Not many people plan seven years for anything in their lives, including courting their spouse. Right. In terms of the mental challenge, at what point is the most difficult mental moment where youre like im not sure if i can do this . When youre on the face or in the planning stages . I think the execution and the end is the most difficult. This was a paradigm shifting climb. Most people go and do climbs that theyre certain they will succeed at. This was like ive picked something that was so far above me, i just worked for seven years to do it. The moral of the story was it was great for free climbing, it was all on social media, but not so great for you, you didnt bond with your partner, you made the point, as you would have if you guys were not constantly posting stuff. You also said those kodak moments caused you guys to take more risks than you normally would just to get a good shot . Not more risk than otherwise, but the bonding with the partner thing. I climbed deep in the mountains without any sort of media with me. Talk about the meaning of life instead of how many hits youre getting. Right. That was different. It was interesting. You introduced me as this social media thing. I never intended for that to happen. And you dropped your phone. Yeah. You lost it. And you were glad. Somebody mailed it to me. It was a thing that totally took of