gear this week is at market fights back against rising rates, trade woes and higher input costs as inflation fears fight to become reality. is a gang buster season enough to crush all of these worries, and can earnings season reignite the rally? guy? that s the hope not just earnings season i think earnings season will be fine it s what they say going forward which is going to be important, and i m not convinced that companies will get great guidance going ford. one of the reasons they probably can t and second reap they don t have to in this environment. that s what we re up against the wild card for the market continues to be president trump and china can pull off some trade agreement. that would be extraordinarily bullish, at least in the short term, so i think the market has to hope for that or maybe hope for a fed that sort of backs off and gets a little more dovish, though long term i think that s bad. earnings will be good, but i don t think it s enough. so it s a
tomorrow wall street senlding a warning about the stock, what it means for tech and the broader market ahead. and an american icon declares bankruptcy, what went wrong at sears and will other retailers follow suit? the closing bell starts right now. welcome to the closing bell. great to have you with us morgan brennan. glad to be here first a check on the markets with an hour left to trade the dow near a session high. up at the moment 105 points. the high was 142 points. it has been a bit of a yoyo session. up 0.4% on the dow yes let s begin today with comments from carl icon on president trump. hey, scott thanks so much. the billionaire investor joined us to discuss the latest battle with michael dell. he weighed in on the market and recent correction for stocks saying he is worried about the impact and a trade fight with china and the tariffs. i think trump has done an excellent job in getting regulations out and getting that tax deal done. i have to say that
trade. here s a good example. 3m, down $4, 1.6%. that s almost 30 points in the dow. another big industrial name. excuse me, scott, let s move over here and showing you boeing down almost $4 that s another 30 points essentially off the dow, 1%. another big industrial name. then we get to some very specific stores, this health care story we ve been telling you about, the berkshire story and amazon story look what it s done to united health group this is the biggest health insurer in the united states dow component. $10 to the downside, that s about 70 points in the dow jones industrial average another specific story mcdonald s down $6 mcdonald s had good earnings beat but they have that big $1 menu there are concerns that cheap menu might drag down growth. that s another 40 points you put these four stocks together, that s about half the decline in the better than 300 points we saw? it the dow dow is price-weighted. there s not much positive today, but the market is very defen
this state wasn t just recently named the top state for business in america. so many huge businesses are down here, including delta air lines. ceo richard anderson joining us exclusively in just a moment. also, georgia governor nathan diehl is going to join us. we ll ask him how he s going to be tops on the business lid list next year. fed president dennis lockhart will join us after the bell in a news-making interview. and the person rumored to be home depot s next ceo, craig menear, also here exclusively and gives us a peek into some of the major changes they re making to their distribution network, bill. yeah, the economy s doing okay in georgia there, and it s contributing a great degree to what s going on on the east coast here, so we ve got a lot to talk about in that regard. the european economy is struggling, though, and the european markets were down today. the german dax was down enough to make it into correction territory today. it has since bounced back a little
reporter: maybe. but for now, the full-court press is on. any questions for the mayor? reporter: the timing of this, is it coincidence that it happened the same day they start hearings? well, it s planned. i mean, i think we re hitting every milestone that we can. reporter: and they have milestones to hit and i think we ll hear more announcements like this. by the time this christmas tree gets through city hall, there are going to be a lot of ornaments on it. yeah. reporter: what they are going to do about traffic remains to be seen. sounds like there are a lot of presents under the tree already. reporter: you got it. phil, thank you. new numbers out tonight show a dramatic turnaround for the state budget. according to the legislative analysts office, california now faces a much smaller deficit of $1.9 billion for the next fiscal year which ends in july. we could even see surpluses by 2014 a big change from the deficit projected this year. it counts incr