microsoft, western digital and monster beverage are those making gains today, tyler. bond market closed today for columbus day. >> and simon, it could be a very interesting close to the markets today with lots of moving parts. that will do it for "power lunch." >> "street signs" begins right now. 2:00 p.m. on wall street and washington, t-minus 58 hours until america runs out of money, but we may be getting closer to a deal. president obama summoned bipartisan congressional leaders to the white house for a meeting in just one hour's time and the senate has reconvened, reid and/or mcconnell could take the floor any minute if they do we will bring that to you live. >> we will. the markets with the uncertainty like any glirm of hope the dow erasing a triple digit loss, the major average all positive as we

can see across the board. what a comeback. >> what a comeback, what a story, what a day it has been a fluid one. let's get to john harwood in washington. all right, john. we've had a lot of developments over the last couple hours. the senate reconvening. we took a live look for the sort of invocation there. this has got to be viewed as a positive step. no? >> no question about it, it's a positive step. they're close. i've been saying that all morning. the senate by going in at 2:00, creates the possibility that harry reid and mitch mcconnell could even before this white house meeting, come out to the senate floor and describe the confines of a potential deal that they're going to strike. one of the things that they know that they're going to hear from president obama is what he said a few minutes ago when he was out at a non-profit charity in washington, putting the pressure on congress to come up with something fast. >> please join me -- >> if we don't start making some real progress both in the house and the senate, and if republicans aren't willing to

set aside some of their partisan concerns in order to do what's right for the country, we stand a good chance of defaulting and defaulting would have a potentially devastating effect on our economy. >> reporter: so the back and forth between reid and mcconnell has revolved around the length of a spending bill to reopen the government, reid wants shorter like two months, mcconnell wants six months because that would keep in the sequester levels for a longer period of time. you've got the debt limit, the republicans want a shorter debt limit hike. democrats a longer one. haggling going on over small refinements to obama care. democrats are saying that they may be able to accept some of those if republicans give concessions but those aren't the main issues. the real issue is duration and i would expect we hear from harry reid and mitch mcconnell this afternoon. they told me earlier we're circling the runway toward a deal and now trying to land the plane. >> if we hear anything we'll get straight to it.

thank you very much, john harwood. we know now debt d-day is thursday but when will the money crunch hit. steve liesman is here to walk us through the timeline. give us the bad news. >> imagine you're paying your bills and you know what you have to send out the door but no idea what's coming in. that's the problem we have. we know the days when we have certain big payments due. let me show you those days. on the 23rd of october, for example, we have a social security payment of $12 billion. interest on the debt on october 31st. november 1st big medicare payments. security going on. >> steve i've got to cut off. we have harry reid speaking right now. let's go to washington, d.c., and listen in. >> i deeply appreciate my friend, the minority leader, for his diligent efforts to come to an agreement. the republican leader and i will keep members informed as negotiations continue. >> republican leader. >> let me just echo the remarks of my good friend the majority

leader. we've had an opportunity over the last couple days to have some very constructive exchanges. views about how to move forward. those discussions continue and i share his optimism that we're going to get a result that will be acceptable to both sides. >> under the previous order the leadership time is reserved. >> i'm glad we jumped in on that but steve liesman, back to your thing, reid saying he's optim t optimist optimistic, mcconnell called him his friend. those two physically embraced the dow would shoot up 100 points. >> i think that's true. you ought to tell them that, but i think having two senators being congenial is not what's at issue here. whether house members can be. >> it's in the senate now. the house punted. you're good. >> this is all in the senate. the senate does and the house approves. >> the market has ticked up a few points. a little optimism into the

market. back to what you were saying. >> what goes out the door. what we have is a chart that shows the cumulative of what happens of the big payments and you end up with $115 billion of big payments over the this period of time. here's the trouble. we don't know what revenue coming in is. we have a chart that shows what federal tax deposits look like. try to plan. there's the money out the door continuing. now the next screen if you look at tax payments, for example, what you find is that it's a very, very unpredictable squiggly line. there's all the cumulative numbers right there. moving on. that's $115 billion. and then the tax payments are really difficult to measure. bottom line, guys -- >> what is -- >> we have a lot of people on the radio listening in, they're driving. looks like my ekg. >> if that were your ekg you would be in the hospital because of the big spikes. those are quarterly tax payments that are made. so we don't know. we get about $7 billion. here's the bottom line. make it short.

$200 billion, 220 has to go out. we can afford. we have a shortfall of $112 billion if we can't borrow. that's what has to happen here. we will have to cut off spending for something if we do not raise the debt ceiling. period end of story. >> quickly for our radio listeners sake, we're watching the markets it tick up. we're up by about 43 points on the dow. you've got reid and mcconnell expressing optimism and an agreement will be reached. mcconnell is hoping to get a result both sides agree to and like. we were just before they were speaking only up by about 20 points there on the dow. so session highs right now on some optimism but things will hopefully get done before d-day, crunch day, in three day's time. >> got to hug it out. physical contact, dow up 100 points. >> i would like to see that. #hug it out. >> there we go. bring in cnbc contributors tony and jared, despite being on opposite sides of the political playing field these two have probably shaken hands or hugged it out once or twice.

do you believe that we're going to have a deal here within the next hour or two? >> i'm not sure about the next hour or two, but i do think within the next day or two. i thinks there's reason for some optimism there. i'm not sure. these kinds of deals can break down. you had a little interesting exchange there about the house of representatives. i'm not sure what makes anyone think everyone is okay over there. the only way this works in the house of representatives is if john boehner decides to just bring a vote to the floor without adding any new amendments or ideas, especially about obama care, but really about anything. if he's willi ing to take what comes from the senate and put it into the floor and let it pass with probably majority democrat votes i would start feeling optimistic. that is a missing piece. >> i don't think that's possible. >> why not? >> i don't think boehner can do that. i don't think his caucus would be happy about him bringing really whatever -- we'll see after they come out of the meeting with the president this afternoon, but i'm really

skeptical that as a first take what the senate can agree to will be acceptable to the vast majority of the house republican caucus at this point in time. i think we're still a few days away from seeing a resolution. >> before we got the most recent positive developments you were saying you don't see a deal reached until the end of the week. that would be beyond the deadline of thursday. >> i think there is still enough holdouts on the republican side who want to get -- who believe we can get to that october 17th date and even through that october 17th date and look, we still have to ask ourselves what really is the basis of agreement? john harwood talked earlier about some of the, you know, coming to agreement on some of the time, how long we raise the debt ceiling, and how long we go with a clean cr, but we know that there is a huge part of the republican caucus that wants to see other things dealt with and we know there are a lot of democrats who want to deal with the sequester.

i don't see a lot of points of agreement between them at this point until we get to, you know, a little bit more heat in the situation. >> so let me just say one thing about that. it's true that there are lots of republicans all over the map on this, but there really is only one republican that matters if mcconnell and reid can put things together and their optimism was quite clear from that little blip you just played a few minutes ago. and that one republican is john boehner. remember, all john boehner has to say is i will allow this to come for a vote on the floor and i feel very strongly that would pass but it would pass with a lot of democrats and at that point all the things that tony is talking about negotiating becomes absolute fodder for negotiation. but you have those negotiations with the government reopen and the debt ceiling raised. >> jared, it is easy to paint the republican party with a broad brush these days because they've acted poorly, okay. i think even republicans, tony, can admit that. do you believe there are enough moderate republicans still left there, jared, that we can get a

vote -- if he brought it for a vote in the house, that it would pass? there's enough rationale voices there? >> there are enough that it would pass. now remember, you don't need that many. >> that's right. >> yeah. >> 17. i think it's 17. >> is it 17. yeah. there are that many out of what is it a 218 member caucus on the republican side, there are at least 10% that i think are still rationale enough to get behind this and in the senate, remember, the senate passed a clean continuing resolution with 25 republicans a week ago. the moderates are the key here. they have gone to sleep, hiding under rocks and have to wake up. >> here's the problem, i think you're right, look, it's long bin my position a win for the republicans has been passing clean crs. that would be a win for them and sort of swapped places with the hostage in this whole situation. so -- but your point is well taken that i do think that a -- you know, a simple bill could get to the floor of the house

and pass, but that's only for thinking about this in isolation. remember, if we're going to come back be to this in six weeks or two months, you know, john boehner is still going to be the guy leading his caucus in negotiations with the senate and with the president, and so he cannot afford to lose the confidence of his caucus today because he knows he's coming back in two months and has to be the leader of that caucus again. think, he cannot think about these as discreet events. it's a continuum. >> jared, a quick question for you, at 3:00 p.m., a big meeting between congressional leaders, the president, the vice president, at the white house. dough know what biden's position is on these negotiations? >> i do not. i do find it interesting, though, that they're bringing the vice president in. i think what did john mccain say the other day, bring joe biden out of his witness protection program. he's been such a key player in these negotiations in the past and when it comes to talking to mitch mcconnell and harry reid this is a guy who was a member of the senate for 35 years.

i'm glad to see him in the room. >> okay. we'll be watching as well. 3:00 p.m., in about 50 minutes time. tony jared, always good to see you. >> before they go, if the pirates can make the playoffs, anything can happen. >> exactly. >> know what i mean. that's hope. thanks. >> that's hope. >> all right. like winning the afl, i don't know what i'm talking about. >> i don't know about afl either. catch a cnbc special report tonight at 6:00 p.m. eastern for all the latest developments out of washington, good, bad, ugly, we'll bring it to you. >> coming up next the government shutdown is beginning to have an impact on some home buyers. could congress end up killing our housing recovery. >> get ready for a bonanza of tech earnings this week. how to play the biggest names before they report. >> and another reminder, it's a big one, the president set to meet with bipartisan leaders in less than one hour's time. we're going to bring you every development as it happens. it's moved markets. >> look at that. the dow currently up by 51 points. getting a bit optimistic maybe a

deal, maybe could get done. we're currently at session highs. we were seeing triple digit losses at the beginning of trade this morning. some financial guidance s so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today... and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen.

. right there, big us what on pennsylvania avenue, we could have major news coming in at 45 minutes time. the president summoning bipartisan leaders to the white house. we heard mitch mcconnell and

harry reid make extremely short statements but say they were optimistic about a deal. called each other my friend. could be heading, marching, stumbling, bumbling toward a deal but big news at the top of the 3:00 hopefully. >> okay. the. the partial government shutdown is entering its third week and having real negative impact on some home buyers. diana. >> the two-week mark is significant. a usda report back in september noted a shutdown lasting any longer than that would have, quote, an immense adverse impact on the rural economy, specifically on housing. we're talking about the usda's rural development mortgage program. it's a no down payment, 30-year fixed government loan for rural homeowners, but actually getting bigger because of the term rural is getting squishier as many are starting to qualify. the loan requires mortgage insurance but only about a quarter of the cost of fha fees. now the malloys, family in baton rouge, learned that the hard

way. this family of search was lucky enough to sell their too small home and had planned to use a usda loan to move up to a bigger one. the shutdown shut them out of that deal at the risk of being homeless they had to switch to an fha loan which required a $10,000 down payment. their monthly payment also $150 more than it should have been. >> my wife and i are both just middle-class working americans and to have a bickering match between congress and the senate and the white houses cost my family their home, and my family $10,000, that's a lot of money to us. >> the usda program is small, barely 2% of the mortgage market, but it is big to rural communities that rely on that financing. this is not just for home loans but for other types of rural development including commercial real estate, congresstruction, growth. a lot more on this on-line

realty check.cnbc.com. >> thank you very much. our next guest may be seeing impacts of the shutdown on his home turf, peter murphy, ceo of home encounter and a real estate agent in the tampa, florida, area. peter, you've got the gigantic macdill air force base sort of near you there. i know there are other military installations around you, stuff in t which diana talked about. are you seeing a slowdown in your market. >> it's not been a huge impact. we've seen jitters. the housing market is so prone to being volatile because of the jitters we see. those are never good things. functionally we're not seeing a big impact to the housing market yet. from activities. one thing that's creating some problems for some borrowers is that irs transcripts are delayed so when folk goss to request transcripts from the irs tos justify their income those are not available to them. for some borrowers and brokers,

they're having to wait to actually get those transcripts before they can underwrite the loans. but overall, fha, fannie, freddie, va are still underwriting and buying and approving mortgages. usda here in tampa bay is having an impact on some buyers. >> you do say bottom line, so far, it's only been a small impact. but the debt ceiling is a whole different thing. the big gorilla in the corner of the room what impact would that have if we go over with no deal? >> the debt ceiling is a big deal because it fundamentally is what can impact interest rates. remember what happened back in 2011 when we had the debt ceiling debate. we had our credit downgrade. and, you know, so we had the global markets watching what goes on in the united states, and we see almost a husband and wife effect of arguing and bickering between the house and senate and what lender in their right mind wants to lend to a country that is functionally dysfunctional the way that our government has been when it comes to this debt ceiling limit. and so yes, we saw even though the debt ceiling was not reached in 2011, that had big impacts in

our credit rating and will we see that same exact thing even if we reach a debt ceiling agreement a couple days from now? it's quite possible the damage has been done and will be done long term because of this kind of dysfunctionalty. >> we'll be keeping an eye out for any impact like that. thank you very much for giving the pulse check to us. >> you're welcome. >> what would a u.s. debt default mean for the global economy? i sat down with the new australian treasurer about how the rest of the world views what is going on in the u.s. government right now. >> well, it would affect the world. it is almost inconceivable that the united states would default on its debt repayments. and i think members of congress know that. the question is, how are they going to ensure that this extraordinary period of uncertainty does not become the norm for the rest of the obama administration term in office. that's the big issue. >> has the u.s. lost any credit

in australia's eyes? >> in australia's eyes, no, but questionablebly the failure of the president to be able to attend the apec summit in bali and east asia summit had a negative impact on the united states and the asian region because ultimately there have been key drivers in both initiatives. >> china is poking the barrel here calling for a de-americanized world. what do you think about that call? >> well, the world needs america and america needs the world. and i think it's that second part that's been lost to some in congress. america does need the world economy to function. decisions made in congress over the next few weeks will have an im pact, not just on the rest of the world, but they'll have a medium to long-term impact on america's ability to grow with

what is inevitable growth coming out of asia and the rest of the world. >> you can see my complete interview with the treasurer on cnbc.com. >> by the way, did not realize adde laid had so many fans. >> i feel like i should be yelled at for not knowing anything about -- >> still ahead why obama care may have a big he problem than partisan problems. the latest on glitch gate ahead. >> imagine buying a cheap piece of fake art only to find out it was the real deal. some lucky cour tests snatched up a few one of a kind. >> and the market still at session highs. remember we were down much of the morning. we have reid, mcconnell, a white house meeting, we have got a very fluid day. a lot of developments from d.c. could we get a deal by end of trading? the markets optimistic. we're up 58 on the dow. don't go anywhere. back after this. americans take care of business.

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what you're seeing is a live picture of the white house. looking forward to 3:00 p.m. eastern when we're going to be seeing a big meeting between the president, the vice president and bipartisan congressional leaders. by the way, the markets do seem to be feeling a little

optimistic. we were down triple digits a the beginning of the day after there was no break through over the weekend. after both reid and mcconnell expressed optimism they will be able to get a result the dow is at session highs up by 52 points, the s&p up by 5. it has been almost two weeks since the rollout of obama care began and the website glitches continue to persist. if you read the feature story in "the new york times" over the weekend it's clear the technical problems may be bigger than anybody thought. the question now, is how long will they take to fix. let's get to somebody who has been covering the story from the beginning, bertha coombs. "the new york times" always saline towards supporting the president and whatever. they crushed obama care. >> it's -- no. it's not obama care. it's the exchanges. and it -- >> the way the exchanges were built. very quick time line, appears that there are some really deep flaws there and the key question is when it will be fixed and no clear answer to that.

certainly not from the obama administration. some of the fixes on the front end issues have been making it easier to get on to the system. i was able actually to create an account today in about five minutes on the federal exchange. and that's where there have been a lot. but then i got an error page which is what a lot of people keep encountering. to get to 7 million uninsured covered over the next six months on the exchanges the administration will have to sign up an average of 39,000 people a day. think of that. right now. analysts estimate in the first week the major insurers collectively saw roughly 5,000 new enrollees come through. many of the those applications according to one key insurance consultant came through and had errors that had to be corrected. >> if the applications aren't clean with accurate complete data, then there has to be some annu manual intervention. it's not that big of an issue. once we get those applications

in large numbers there's no way the carriers will be able to handle that. >> a lot of people compare the rocky start of obama care to the launch of medicare part d back in 2006, but analysts say the federal exchange issues are far more complicated as aetna chairman and ceo put it here this morning on "squawk box" we're at a place where there's so much wrong, we won't really know how much is broken until it's fixed. >> yeah. it's a situation, too, when you read that article you realize it wasn't just technical, though. there were people -- there were information that was withheld, timeline, things, last-minute things they wanted to put in. we don't want the republicans to slam us. here's the information. >> some was political and some of it was just the fact that they were not anticipating having to build something of this scale, right? they thought a lot more states would build their own. we are seeing better progress on the state built exchanges because they're able to manage those projects.

when building for 36 states and weren't anticipating that and had a short time frame they really clearly were not prepared for that. >> certainly not, indeed. thank you very much for joining us, bertha coombs. >> still ahead, we are at session highs, but next, we're going to have your d.c. dodo playbook. herb greenberg shows how he is hedging against all the uncertainty. >> later on, the former ceo is here with advice for his former company, the one company he thinks apple should buy. that's all coming up. peace of mind is important when you're running a business. century link provides reliable it services like multi-layered security solution to keep your information safe & secure.

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want to show you what's happening with the little guys. record high, folks, sitting up there by only about half a percent but the fact it is an all-time high while the other three are now positive on hopes we are inching ever so closer to a deal in washington. okay. street talk time.

stocks on the move we need to tell you about all fwrats washington we've got world corp which is down, declared a quarterly dividend, the stock down on high volume. >> going down one. >> yes. >> lot of growing concern about consumers numerous research firms citing soft u.s. demand in the last u.s. month or so lower third quarter estimates. longbo did checks, consumers are delaying purchases. whirl pool expected to report third quarter earnings. with today the stock is up about 30% year to date. >> and did you know -- >> founded by kate upton's great grandfather. >> good little factoid. stock number two, coach, downgraded to hold from a buy. >> and they cut their target by 3 bucks. $262 a share. odd call because the stock is about $7 a share below that mark. they kind of still see upside anyway. they cite deteriorating trends following weaker foot traffic in the spring. also interesting, mandy, because last week we had analysts on who

said he thought tiffany was going to do well. i guess you'd differentiate them or maybe gap in luxury thinking. who knows. >> anyway duncan brand getting an upgrade. >> they see sustained unit growth at the high end of the company's guidance. >> we've got expedia getting a downgrade to hold from buy. deutsch and also i should also add since we're in factoid mode approaching a 52-week low. >> it's been a disaster. >> compare them to trip adviser and priceline and everything like this. target is 51, no upside in the name, the stock below that, maybe a buck or two. concerns over manages in expedia's hotels.com unit. the president and ceo joined squawk. >> let's move on now. do we have excel ron. no, we have talking numbers. >> netflix is the name. this is a big name. shares on the move, up about 7%. the company said to be in talks with cable providers including

our own very fine parent company of comcast. to allow its service on cable boxes. shares have tripled up around 250%. more room to run. let us talk numbers. fundamentally and technical. first on the technicals, carter the senior entertainment analyst with standard & poor's. a geechbs you move or a trap that could hurt comcast? >> it's a little bit of both. for netflix, it's hard to imagine how this could not be a positive development. if you're a cable operator you to be weary. i didn't see this coming. this deal netflix did with virgin media. a lot is going to be in the details. the devil in the details. we're going to be watching closely to see, you know, how the details are hammered out. whether things like revenue split, or who controls the customer data all the sort of things can hamper the details. >> all right.

carter, let's go to the charts. you heard the fundamental view from tuna. what are the charts on netflix telling you. >> >> let's look at them. i've got a daily and what's quite apparent is despite the huge performances you cited the assent has been orderly, tracking 45 degree angle from 100 to 300. and that -- in that sense it's not frothy, again percentage is not withstanding. look at the longer term chart this is where the issue is, and that is in the back half of 2011, $300 which plunged to 60 and recovered all of that lost ground here, here we are at the 300 level where he closed last week. the principles of moving from a shocking level back to a level that was a level where you sold off, you usually encounter overhead supply. it has to contend with unhappy people from 2:11 who now having had their money returned to them by definition are interested sellers. a move to a difficult level, we

would expect the stock to find difficulty, back and fill or back away. >> incredible chart, the five-year. unbelievable. looks like a roller coaster ride for those listening on the radio. tuna, carter, thank you for joining us. >> thank you. >> thank you. for more talking numbers check out the on-line edition of the show. they snatched my orange shirt off that graphic. >> first they erase your ears and now your whole body. >> what's next. career. doing that to myself. on deck the former ceo of apple says the company needs to make a big splash and buy one big internet name. who is it? wouldn't be a tease if we told them. >> tech titans set to report earnings later on this week. our own john fortt is looking ahead to the results you don't want to miss. first, something else you don't want to miss and that would be the "closing bell." bill griffeth, a big meeting at 3:00 p.m. >> we sure do. we're wondering whether this meeting with the president will turn out to be kumbaya or okay corral but he is meeting with

leaders at the top of the hour and anything is possible over our watch over the next two hours. stay tuned for that. an all-star panel of money managers on how you should be investing ahead of any debt ceiling deal. plus, what happens if there is no deal by the deadline this week? are we facing a financial armageddon on friday or are all these fears being blown out of pro portions. both sides of that question coming up as well. kelly evans is with me today. we look forward to having you join us at the top of the hour. more "street signs" is coming your way after this. jackie: there are plenty of things i prefer to do on my own. but when it comes to investing, i just think it's better to work with someone. someone you feel you can really partner with. unfortunately, i've found that some brokerage firms don't always encourage that kind of relationship. that's why i stopped working at the old brokerage, and started working for charles schwab.

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with 7 antioxidants to support cell health. one a day men's 50+. and a reminder we are expecting a meeting between the president and congressional leaders, a bipartisan meeting, at 3:00 eastern time, so just in about 20 minutes time at that building right there, and if you're on the radio it is the white house, 1600 pennsylvania avenue, washington, d.c. stocks near a session high. we've done about 160-point u-turn. pfizer, boeing, disney, microsoft, top four dow performers. >> we've got a tidal wave, a tsunami of tech earnings this week and the stakes could not be higher this quarter.

john fortt give us a preview. >> hey, mandy. there are big names that will give us an insight into how enterprise tech is doing, onlied on-line ads. for intel, wall street is looking for 53 cents on $13.45 billion in revenue. the pc client group needs to make up the bulk of that looking for $8.35 billion despite the drop in pc sales. the data center needs to be the strong performer, $3 billion in revenue would have it growing 13.6%. analysts looking for a strong guide into q4 with the uncertainty in washington, though, you have to wonder whether they wiwe'll get that. ibm, be a big player in government, so i expect the shutdown and debt ceiling battles to affect the current quarter and q4 is ibm's big quarter for systems and technology. the hardware group. analysts expecting a $5 billion q4 from that group though it hasn't broken $4 billion so far

this year. other names reporting this week, yahoo! also tomorrow where we'll see if the core display ad business showing signs of life, how much alibaba is helping the bottom line, ebay on wednesday, sure to talk paypal and mobile and set up holiday expectations and google on thursday expected to report $10.36 eps on $11.7 billion in revenue and cost per click should be in focus and hear about motorola after the launch of the moto x, analysts hoping for nearly $1.2 billion in revenue there. guys? >> john, i've got to jump in. apologize. breaking news out of washington. and the meeting postponed. we were expecting a 3:00 p.m. meeting between the president and bipartisan members of congress, congressional leaders, getting word from the white house that meeting has been postponed to allow members of the senate, i'm going to read the press release here to get it right. to allow leaders in the senate time to continue making important progress toward a solution that raises the debt

limit and reopens the government. mandy, i guess you can take it for what it's worth, sounds like they haven't quite figured out everything. they're getting there, but the meeting delayed. no time by the way for the new rescheduled meeting. >> for the markets we've lost a little steam here. still positive and still vastly better than where we were at the beginning of the day but off the session highs here. by the way, i should add a factoid in here, if the dow and the s&p do end higher, the end of today, obviously it's going to depend on what happens at 3:00 p.m. and what developments come out of that, if by 4:00 p.m. the market close the dow and s&p are higher w eer it wil the fourth day they are higher, we have not had a winning streak for four days in about a month. a lot of sort of negative headlines, worries about what -- >> a month without a four day win streak. what would the fed think. i thought we have to go up every day all the time. >> isn't that what the fed is there for. >> right. >> seems like it. >> maybe i have the mandate wrong. >> bring up if you can bring up, i'm going to pull an audible

interday chart of the dow. listen, people talk thibts, we don't like politics on the show. we don't like it either. you have to talk about it. look at today, okay. we were down 100 some points. we got all this throughout the day talk of a deal. sort of congressional leaders saying oh, and reid and mcconnell in the senate saying my friend, mitch mcconnell and we're optimistic a deal can be reached. markets climbing all day. do 160-point turnaround. now a report that this meeting, this 3:00 p.m. meeting with the president and bipartisan congressional leaders will be delayed, now we're only up 28. 30-point turnaround on that. the market is literally hanging on every word, every report, every -- whatever comes out, that's why, folks, we're talking about it. >> john harwood is joining us from the white house. john, fill us in. we're hearing here the 3:00 p.m. meeting is being postponed so it gives a little more time for them to sort these things out. >> mandy, i think the delay in

the 3:00 p.m. meeting is to give senator reid and mcconnell time to wrap up an agreement between them so that when they go to the white house meeting with the president, nancy pelosi, john boehner, from the house, they can have something to describe and i just talked to a leadership aide who gave me a sense of what that perspective deal, though it's not completely done, may look like. it would be an extension of government funding to january. that is more in line with what democrats had wanted because they don't want to lock in sequester cuts for the next year. they want to go ahead and get about a negotiation that would allow them to alleviate some of the sequester cuts. it would have a debt limit hike through into february which is not as long as democrats wanted. republicans wanted a shorter limit to put the pressure on so that is a compromise on both sides. in terms of the extraneous provisi provisions, things with obama care, this aide tells me the delay in the so-called medical device tax is no longer part of

the discussion. that would not be included. they're still discussing potentially steps to strengthen income verification for those who would get obama care subsidies. that would be a gesture toward republicans by that provision relating to obama care. unclear what democrats want woo get for that. what sort of offset there would be. they're seeking some. the signs are good that deal is coming into view and we may get some more word on that once this meeting takes place which has been delayed from 3:00. >> john harwood, thank you very much. i know john's going to be working late as long as these developments continue to roll out. former ceo of apple joining us john sculley, we teased this as what company should apple buy. i'm going to ask you at the end. this other stuff, what's it going to take for congress to win america back once this is said and done? >> well, as you know, brian, i'm a brand marketing person and these guys in washington have

really not only damaged their own brand, they're damaging america's brand across the world. i just came back from singapore and london last week. people are really just amazed and disgusted at the way these politicians are behaving. i think they've created a lot of collateral damage they've got to prove to americans they're not just out for themselves but they are willing to risk their election to do the right thing and they just haven't done that yet. >> i think you make an excellent point when you bring up the global aspect. it's not just winning americans back. it's winning the world back. what do you make of the comments by china, very pointed remarks saying tax americana is a failure and calling for a deamericanized world, ridiculing what's going on in washington. >> what else would they say. >> they could keep their mouths shut. >> i'm going to default -- >> but this is a chance in stance because normally china does not get involved in the politics of other nations but when you consider china is the biggest holder of american

treasuries, obviously, outside of the fed but nonetheless they have a lot at stake here? >> i was just in asia last week. the apec meetings were going on. those are the top 20 countries that are on the asia pacific borders. and president zooe was clearly the star there. obama didn't make it. he is taking the center stage. as you just pointed out. i could see not from the u.s. so much as when i've been traveling around the world, most recently last week in asia. >> you know what, i was going to ask you the question about who apple should buy but save that. it's an interesting juicy topic. can we table that and get you back on soon to talk more about that? >> sure. >> happy to do that. >> i'm not going to give away the company. john sculley, we'll bring you back on. last question here. do you think we will recover from this?

>> oh, i do think we will recover. i think that it's time for the pragmatists to step in and ask the ideologues to step to the side. they've done enough damage on both sides. i'm not picking on any and i think the cease-fire, which no labels, a nonpartisan, or bipartisan effort, has taken is a more sensible stand than we've seen from either of our political parties recently. >> it's a pleasure to have you on the show. once again, we'll get you back on and talk about your big ideas very shortly. thanks. >> up next f you are not sure how to hedge your bets thanks to all the nonsense going on in washington, have no fear. because stellar -- no, herb greenberg will be here to lay out his playbook for these risky times. >> let's take a look at what the markets are up to right now. currently up about 43 points on the dow. not quite as session highs but, nonetheless, the market expressing some optimism that we're inching closer towards,

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welcome back to "street signs." we're keeping a close eye on medical device makers, think names like boston scientific, st. jude medical, on all this word, the budget negotiations, debt ceiling negotiations, about whether there will be a tax on medical makers as part of obama care. this is a negotiating point. those stocks are up on the day so far but we'll keep an eye on any movement in the sector overall. >> let's bring in eamon javers, up from washington, d.c., but the meeting was postponed. what does that mean to you, aside from the fact the meeting will not occur at 3 p.m.? >> well, we got the e-mail here the meeting was postponed at 2:41. that's just a few minutes before these leaders would have had to get in their suburbans and come down to the white house from capitol hill. that's a very last-minute postponement of this meeting.

they do all take separate cars. the leadership takes their own car. when they bring the rank and file in like last week, they get in a little bus. >> isn't the taxpayer paying for all those separate cars? >> yes, they are. they actually travel in separate cars. very last-minute cancellation. some people who are saying, maybe this is good news, maybe they have something to iron out so they can shake hands and get a deal firmed up if they meet at all today. maybe a sign of optimism. of course, it could mean a snag. the one thing to watch, though, is that john boehner will be the only house republican in this meeting when he goes there. does he have the authority with his caucus to sign off on a deal if something is presented to him in the room there or will he have to take it back to his conference? i would imagine he has to go back and talk to other house leaders before he can sign anything. i wouldn't expect hand shakes but maybe proposals. >> no hand shakes, no high-fives -- >> no bro hugs, right.

>> let's bring in our hedger, herb greenberg. how are you hedging d.c.? >> it's not just the d.c. uncertainty. it's the market in general. as i've been doing for -- i think since may is i have some bearish etf, bearish mutual fund. just there for the day, you know, for a rainy day. you have to know, though, and it's very important, the higher et market goes, you have to be comfortable with that bet. if you're just an individual sitting at home like i am with my i.r.a., you don't have any performance benchmarks. have you to know why that bet is there. every given day, unless you're trading the market, it doesn't really matter. >> herb, we have to leave it there. all this breaks new. great to have you on the show as always. let's take a look at the markets real quick for you. we're off the session highs but we are, nonetheless, higher than we were at the beginning of the day as we were down triple digits.

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and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. just a reminder, the meeting that was to occur at 3 p.m. eastern time, has been postponed. the excuse is to allow bipartisan leaders to collect more information and basically come up with a better proposal. >> yeah, well, of course that postponement is being read by the market as a positive thing. maybe give them more time to hammer things out. we're currently up not quite as

session highs but, nonetheless, a lot better than the 100-point drop that we saw in the dow earlier today. if the s&p 500 can finish higher, a winning streak for the first in a month. we'll watch the markets as we go into "closing bell." that's it for us. >> somebody send bill griffeth a xanax. thanks for watching, everybody. "closing bell" next. >> and stocks rallying from a big deficit on renewed hopes we could be nearing a deal on the debt ceiling. welcome to the "closing bell." i'm kelly evans in for maria bartiromo today. >> that was a cameraman right there. we've got it positioned in front of the white house, waiting for eventually, we hope to have congressional leaders come to the microphones to talk about this meeting that will eventually happen at the white house. stocks opened lower, though, this morning after meetings this weekend failed to reach a deal on the debt ceiling. however, we have been rallying back on word that the president is going to