strength as we just saw. take a look at the gold, silver and copper market. the gold market off almost 2% and silver leading to the down side by better than 3% negative. >> not helped by the fact that somebody dumped futures into the gold. >> "street signs" begins right now. see you tomorrow. welcome to "street signs." buckle up. we have a huge hour ahead for your money. brian is live in denver at the schwab impact conference where he is speaking exclusively to the ceo of charles schwab. we have a rare and exclusive interview with the man in charge of johnson & johnson, alex gorsky. then president obama will be holding a news conference in the wake of the democrats blow in the mid term elections.

let's get out to brian. what do you have on tap for us this hour? i would imagine lots of impact. >> we have lots of impact. we will have to buy an hour of tv from "closing bell" today because we have two hours of content for an hour long show. i don't know if we can pull it off, but we are going to try. if you are watching schwab impact is how you get ahold of us. we will try to get investing questions answered. this is a heck of an event. i have never been here before. i thought it would be one room, a couple hundred people. it is thousands of registered investment advisers, thousands of vendors. i don't know if i can handle it. >> we will be very disappointed if you don't speak to everyone of the thousands of people attending the conference. first let's get caught up on the markets. the dow hit a new record straight out of the gate along with the dow utilities and

transports. watch the s&p sitting at 2017 now. if it gets to above 2018 by the time the bell rings that will be a record close. let's get to bob pisani at the nyse, rick santelli is in chicago. the markets rallied i guess as the polls were swinging towards the gop. how much extra push are stocks getting from the clear and decisive results? >> i think it is fairly modest. energy stocks are up nicely. you might say it is because of hopes for a different energy policy. take a look here. energy nice lead up 1.5%. utilities are also doing pretty well today. that is a pretty small group. energy stocks moved up when brent and when west texas moved up. look at the move up earlier in the day. reports of disruption in saudi pipeline. we don't have much information on it. we are waiting for clarification. that is what drove up the price of oil and energy stocks.

if you look at the s&p energy sector this chart mirrors that of the brent crude one. that is why oil stocks moved up so much. look at the dow, exxon is moving a little bit and chevron helping in the dow. visa is the biggest mover in the dow. that is 40 points right now. there is a little movement on pipeline stocks, the trans canada pipeline. there is trans canada. cnq, may benefit if the pipeline went through. on the overall market i think more years of grid lock and that is general what the market is reading for this right now. >> good read on it. thanks very much. let's get to rick santelli in chicago. we saw flight to safety in treasuries on the back of the news of the oil pipeline explosion. considering it is not terror related how are we doing now in

the bond pits? >> the bond market came back into the same type of rate structure as before. in chicago word of this explosion started to hit the trading floor, gossip stream around 10:30 eastern. you can clearly see a little bit after that we had the drop in yields and the spike in energy prices. it is something worth paying attention to. reuters and many other services are calling it not terrorism. as bob pointed out there was something going on with the fire. i'm sure we will get more details and the after math of yesterday's mid terms. you could argue more grid lock, many think less grid lock. check to the highest bidder now on legislation which will be the president and his pen. >> time will tell on that. thank you very much. let's send it now back out of new york and over to denver, colorado. >> thanks very much. we are here with the ceo of

schwab. thank you very much for joining us at your own conference. thanks for coming to your conference. >> we appreciate cnbc being here. >> we will be back next year. let's get right to it. 24 hours ago the political world in america looked very different than it does today. does the financial or investment world look different 24 hours later? >> i don't think it does to a significant extent although i think there is some hope for optimism. maybe it is the optimistic side of me. with the president with two years to go, republican control both sides of the congress. we like to hope there would be compromise. i don't know if there will but you have to be an optimist. >> bob pisani said grid lock sometimes is the investor's best friend. do you agree with that? >> it certainly has panned out to a great extent from a market movement. i think we have to think beyond the markets. what is good for the country is

addressing some major issues, immigration, tax reform, certainly corporate tax reform. i hope for that beyond what the market might get. sit tight. we have senate majority leader elect mitch mcconnell speaking right now. let's go to mitch mcconnell and come back. >> inside kentucky, non-residents, ten each year. and they're here today to witness what we may talk about. let me make a couple of observations. i think the voters yesterday were saying a couple of things. they are obviously not satisfied with the direction of the administration, but at the same time i heard a lot of discussion about dysfunction in washington. i think there are a lot of people who believe that just because you have divided government it doesn't mean you don't accomplish anything. earlier today i got a call from

the president, also from senator reid and the speaker and ted cruz, too, which i thought you would be interested in. all of whom i think have the view that we ought to see what areas of agreement there are and see if we can make some progress to the country. i like to remind people that divided government is not unusual in this country. we have had it frequently. when american people choose divided government i don't think it means they don't want us to do anything. i think it means they want us to look for areas of agreement. reagan never had the house in eight years. clinton didn't have the house or senate for six of his eight years. i can think of at least four fairly significant things done. reagan and o'neil say social security for the generation, did

the last comprehensive tax reform. bill clinton and the republicans did well for reform and balanced the budget. i think we ought to start with the view that maybe there are things we can agree on to make progress in the country. from an institutional point of view the senate needs to be fixed. i made a speech back in january not widely covered, probably shouldn't have been widely covered but a lot of people inside the senate paid a lot of attention to it. the senate in the last few years basically doesn't do anything. we don't even vote. senator had the cap of trying to explain to the people of alaska why he didn't have a vote on the floor on an amendment. the first thing i need to do is get the senate back to normal. that means working more. i don't think we have had votes on friday in anybody's memory.

it means opening the senate up so that amendments are permitted on both sides. and it means occasionally burning the midnight oil in order to reach a conclusion. i can remember the way we used to get bills finished was for the majority leader to announce on monday you were taking up a particular bill and you were going to finish it. finish it thursday night, friday morning or saturday but you have to mean it. it is amazing what happened around midnight on thursday. >> that is senate majority leader-elect saying the senate needs to be fixed. let's rejoin our interview with the ceo of schwab. before we get into some of the announcements you are going to make i want to follow up with politics because that is such a big story today. you heard mitch mcconnell talking about the senate needing to be fixed. your business, the business of the registered investment

advisers here thrives on optimism and aspiration. as an american, as a ceo of an american company, do we have reason to be optimistic? >> i think we always have to be optimistic. we can never get caught up in believing that tomorrow won't be better than today is. we have a lot of reason to be optimi optimistic. whether the election yesterday is another reason time will tell. >> maybe a of bigger impact, you will forgive that, here for the rias is the new announcement, the schwab intelligent portfolio. online model, no fees. there is a lot of people here who hear no fees and think is my business under threat? give them a reason to be optimistic. >> let's put online advice in context. the independent investment

business today is $4 trillion. there is $5 billion in online advisory. looking at it from that context we recognize there is a long way to go before anyone here has to worry. even the growth to $5 billion happened under an umbrella under a raging bull market. how would someone react without having someone to talk to during down times. i don't think anybody here should be overly worried about online advice. i believe it will grow over time. >> the president who will speak later today and the new congress, their job is to try to reinstill a little bit of confidence in government. part of your job and others like you in financial markets is to re-instill confidence in the 20 somethings and thirtysomethings that the stock market is a good and safe place to invest because they have been burned. how do you do that? >> you do that with facts. the fact of the matter is being

an owner in our country has been better for welt accumulation than being a lender. you are going to have ups and downs. being in the market is more important than trying to time when you are in the market. long term it is the path to wealth for most americans. >> we have seen a heck of a bull market the last five years. you can describe it all to the fed and qe. do you think the people are getting revolved in the market? when you look at daily trading volumes, monthly trading volumes, assets under management. are americans married to the stock market? are they dating again? >> i think they are more than dating. our client cash holdings are near record low levels. they are not trading at the level that they were 10, 15 years ago in the middle of an internet bubble. they are diversified and doing different slices of investments.

we see investors fully engaged in the right way, not the wrong way. >> we see market swings 300 points one day, 400 the next. we haven't seen that for years until the last couple of weeks. what is the impact of that kind of market on schwab? >> very, very little impact. most of our clients are long term investors. sure you see a little bit of a tick up in trading activity when that happens but the vast majority of our people have a plan. they have goals and they are investing for the long haul. they have thousands of investment advisers to help them do that. >> last question before we go back to mandy. you will probably not want to touch this because you have others here. you think the dow will be higher a year from now? >> i have no idea. yn anyone wondering that should be in the market. >> ceo of schwab here at the impact conference here in denver, colorado. . this is a massive event.

we appreciate being your broadcast partner. >> we are grateful for you to be here. >> a little reason to be optimistic about the market and try to reengage millennials and say the stock market historically is the greatest wealth creator in the history of the world. you have to convince people that is the case. >> it was interesting what the ceo was saying -- >> going steady. >> we had the conversation we are now exclusive thing. are have a question for you. most of the clients are long term investors and in it for the long haul. i'm sure you have spoken to many people, what do they tell you is their number one concern right now, if anything? >> well, politics, obviously, is on everybody's minds today. just cheap plug, we walked around loosely and did three

pieces for the internet for cnbc.com literally bum barded people and had a little fun with it. politics is on everybody's mind right now. the fed ending qe. the reality is this. in the last two weeks -- omaha like mr. peyton manning about a mile over that way calls it, too. two weeks ago we had qe and a democratic controlled senate. today we have a republican controlled senate and no qe. how different is it from two weeks ago? >> i don't think it is that different. time is going to tell. the bigger issue than the stopping of qe is what is the fed move around short term rates. that is the one every wub wants to see. >> ben bernanke you might remember him from like qe 1, 2, 3, he is exclusive speaker later. he is speaking here this afternoon. >> he is? say hi to him from me. we will see you in a bit. will there be a big power

play now that republicans have taken back control of congress? we will be talking energy stocks ahead. later on a rare exclusive interview coming your way. alex gorsky joining us live. make sure you don't change the channel. location. location. (shouting) location. here's the location that matters the most. here. or here. or here. it's wherever this is. to get customers to come here and stay here, you're going to need an app that connects to all your systems.

so they can bank, shop, do what they need to do, and you gotta do it fast. before the competition does. it's tough out here; you better be on the right cloud. today there's a new way to work. and it's made with ibm.

mattress discounters veterans day sale ends tuesday. but mattress discounters has the largest selection of memory foam mattresses under one roof! comforpedic... icomfort... posturepedic hybrid... and wow! four years interest free financing on the entire tempur-pedic cloud collection! and, get a queen size serta mattress and box spring set for just $397. but hurry! the veterans day sale ends tuesday. ♪ mattress discounters let's take a look at what is happening with oil prices. they are moving higher by about

2% today on reports of a saudi pipeline fire earlier on today that broke out during repairs. it is now apparently under control and they say it is not terror related. this comes after oil slid as low as 75.84 yesterday, a four-year low. now that republicans are taking control of the senate what does it mean for oil coming forward? let's bring it to john -- it is believed the republican majority could lead to support of new legislation. >> a company called clear view, i know them very well and spoken to them. they have very interesting perspectives. my own view on the keystone xl is i think it is beneficial is because the big concern they have is that their oil might get stranded, totally dependent on rail which might be restricted

and they can't get it to market. the price of bakken crude falling. it fluctuated over the years. $9 is a pretty good spread. you can see how keystone may help them. the idea of access tends to disappear. as far as the other issue you mentioned. i think the development over the last 24 hours is significant because not just the export but because they didn't get government permission to do so. they took the ruling or the opinion granted by the commerce department and said we are good with this so we don't need a license. i think you are going to see, i don't think republican senate wants to take a vote in favor of exports. that is not going to look good on anybody's resume. you see an administrative move

by the administration working with republicans to loosen up various restrictions within existing laws and let a lot of it go out the door. it may not need a full piece of legislation to allow exports. >> very interesting that you mention that news, as well. very quickly on the new york state fracking ban, andrew cuomo securing a second term, does he lift the ban? >> i think he does. he has been reelected. the other point is that republicans took over the senate free and clear. so the concern here i think was that the senate was going to be run by a bunch of liberal democrats tied to bill deblasio. andrew cuomo has been silently supportive. i think he will do it and maybe not statewide but will say we will have a pilot program in five or six counties. i do see those restrictions

being lifted. >> thank you very much. we could see some interesting changes ahead. we will go back out to brian at the schwab impact conference in denver for your post election investing play book. "street signs" will be right back with this big show. (vo) rush hour around here starts at 6:30 a.m. - on the nose. but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours.

today could be the day. the day we give you hope. relief. a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today today today and everyday. call today, for an appointment today.

busy day in the financial markets. busy day for america. welcome back to our coverage for the 2014 schwab impact conference in denver, colorado. joined by guys familiar. neil hennessy. thanks for joining us here. before we get into some of your ideas because we want to get ideas out of the conference, as well. gop controlled senate. does it matter from an investing or financial point of view? >> absolutely not. i just think the markets are in

great shape. companies are in great shape. you are looking at profits at an all-time high. market is not overvalued. it doesn't matter that maybe we will get through some of the head winds we had been facing because we have both houses. that is yet to be seen. >> you don't think it matters at all to say oil. we get a keystone bill on the president's desk. he has the power of veto. you don't think sectors could be impacted here? >> i think you have to get the confidence of the american people and voters behind them before we start to move on to keystone. if they can start to negotiate between the 40 yard lines and hopefully that is what will happen then things will progress. so there is a lot of pieces to the puzzle. right now i'm not -- it's not euphoria for me anyway. >> i agree with neil but i say probably because there is the possibility. it has been six years and we have been hearing cooperation

with congress and it has never happened. on the other hand if you can get legislation that impacts fiscal policy and makes it more business friendly and business oriented then you may have the ability to propel the economy finally. all of those things would be a benefit to help the economy going forward. for the last six years monetary policy covered up. >> americans don't trust government. they don't trust congress. every poll says that. should they trust the economy and the stock market? >> the economy hasn't demonstrated consistent sustainability yet. i don't trust it personally. i agree things are improving and getting better. however, it hasn't been prolonged enough. we have a lot of head winds, uncertainty, global growth and the potential of the strong dollar versus weaker currencies in the rest of the world that

may impact imports. maybe. >> that was macro. let's get micro. >> i think ball corp. >> big packaging company. >> beer cans, soda cans. they have a dividend 52 cents, plenty of room to run with. you can look at pilgrim's pride. you are talking about they can process almost 2 billion birds a year. that is a lot of birds. they don't pay a dividend. these are conservative companies that i think you can get in, buy, make money. >> neil is going with cans and poultry. >> facebook is one on the equity side. i think the business is strong. i think the messaging could have been better last week but the business is still solid. i will go with silver at the

moment. if you believe the economy is strengthening then it is an industrial commodity and store value and industrial component and sold off so substantially in the last year to date and last couple of weeks that there is the ability for longer term snap back because of industrial economic activity. >> real pleasure. have a great conference. thank you very much. facebook, silver. thank you very much. >> don't go anywhere. we have a lot going on in this hour. we have exclusive interview with ceo of johnson & johnson. we have a market on the move. don't you dare go anywhere. we won't. we are back right after this. e. what do i do? you need to catch the 4:10 huh? the equipment tracking system will get you to the loading dock. ♪ there should be a truck leaving now. i got it. now jump off the bridge. what? in 3...2...1... are you kidding me?

go. right on time. right now, over 20,000 trains are running reliably. we call that predictable. thrillingly predictable. get to the terminal across town. are all the green lights you? no. it's called grid iq. the 4:51 is leaving at 4:51. ♪ they cut the power. it'll fix itself.

power's back on. quick thinking traffic lights and self correcting power grids make the world predictable. thrillingly predictable.

let's take a look at what is happening in the markets. you see the dow is up by 77 points. the s&p 500 is at 2020. so it looks like it could also close at a record. what you are seeing with the nasdaq is a slight lagging move there. we had weakness in tech earnings. names like trip adviser capping the gains that we could otherwise see there. let's get out to brian sullivan who is over in denver, colorado.

>> thanks very much. so let's get a panel on real world investment advice right now. we have a great group of folks lined up. we decided we would pick three of the best out for you. managing director of sullivan. no relation. shannon, usey, president co founder of a new port, california firm. thank you all very much. here is where i want to start. people criticize us for saying that the 20 year olds should be involved in the stock market. they got student loan debt, they can't get jobs. how do you convince the next generation who will become the 30s and 40s and 50s. how do you convince a 25 year old that they have to take the few pennies they have left and

invest in the stock market? >> the most important thing is to use their competitive advantage that they have. firstly, technology. they, unlike their parents and grandparents, can do a lot of things with technology that you and i couldn't do when we were first starting to save. when my father started tracking spending he used a ledger. i used quicken. today with mint.com, young people know what they are spending. they can see their portfolio. the other competitive? >> the other component is time and compound. this day and age these guys have a lot of time. if they put $5,000 away a year until their retirement they will have $1 million. you start when you are 45 years old you have to put away five times that amount. >> people say they don't have money. i can't put away $5,000 a year when i don't have $5,000 a year.

how do we convince them the stock market is a safe place to invest. it is not just millennials. they got burned with the financial market collapse. they think stocks are too dangerous. >> i will sound like the old college professor. they have to study history. history tells you the stock market is just about the best way to accumulate wealth. they have investing for decades time is on their side. stocks have earned 9% to 11% going back to the 1800s. >> better than anything over a long period of time. stocks have been where it is at. you have to convince a generation of people who are ticked off, burned and disgusted that it is still a place to go. >> they can cut discretionary spending. maybe don't get lunch out every day. you can save that money and that

money will compound over time. >> you don't need 15 new apps a month unless you are apple. >> pay yourself first. on pay day have automatic distributions taken out of your paycheck so you don't feel it. that is why 401 ks are so successful. >> we are trying to get actionable advice. give us real world advice middle aged, middle risk tolerance client, what should they be doing with their money after a five year bull run for stocks? >> first get back to basics which is spend less than you make, save periodically and have a plan. there are too many ways in which to put together a financial plan today. there are tools online, advisers. we happen to have high minimums of the adviser sitting here. there are great advisers. there are ways to put a plan

together. >> is stock market still a good investment tool right now? are you still recommending the equity market for clients? >> for a portion. the toughest thing for my clients including retires is not stock market volatility. it's not. they can withstand a lot of that for a portion of their portfolio. it is low safe yields. if low safe yields came back it would solve a lot of issues for retired people. that is one of the biggest challenges today. >> i don't see higher interest rates for a long time. the savers have been penalized in this country for years. people like my dad are porsed into the stock market in the mid 70s. there is nowhere else to get any kind of yield. >> i go back to two things. one thing barry said was have a plan. if you have a plan you know exactly how much you should have in the stock market. the other thing is to make sure you are investing in your 401 k.

we see people miss their match, not put money into the 401 k. that is a huge opportunity for them. >> i say this group has a lot of competing demands in the cash flow. kids saving for college, retirement. i agree, they need to get organized and they need to prioritize and they need to figure out how much can be allocated to each goal. their lives can be complicated. >> i don't agree that there is just cash and safe stuff in the stock market. there is a lot of stuff in between. a lot of new investments that really fit the sweet spot where it can give you some return certainly better than money market and cds but not stock market risk. >> we will leave it there. we like it. the message, have a plan, easier said than done. i love it when a plan comes together but you have to have the plan first. >> thank you very much. real pleasure. guys, i'm going to say good bye here from the schwab 2014 impact

conference. i have to hop a plane back east. these glamour s 16 hour business trips are just redefining luxury. >> it really does redefine luxury. i loved what you said about people are burned, ticked off and disgusting. i am going to use that. that can be applied to all kinds of things, stock market, housing market, long lines. >> scolding the children. fantasy football team. feel free to lift that. periodically give me credit. >> burned, ticked off and disgusted courtesy of brian sullivan. we have a couple of really big things coming up this hour. we have the president who is going to be speaking at 2:50 p.m. eastern. we have a rare and exclusive interview with the ceo of johnson & johnson. that is coming up, as well. in fact, it is going to be next. hang on tight, guys. we will be with you in a couple

of minutes time. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain,

as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial.

you can bring back from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around. can i go now? if you're going to do business globally, you need a cloud that can keep your data where it needs to be. today, there's a new way to work and it's made with ibm. you are probably wondering what gold is up to. it is sitting around its lowest since mid 2010.

the level we are watching is whether or not we move down to $1,000. you have strong dollar and stronger shares. silver's fall has been sharper hitting its weaker. we have the huge and rare interview. let's get to meg terrell who is live with ceo of johnson&johnson. >> thanks. i am here with alex gorsky. thank you for joining us. >> it is great to be here. >> we are here at this veterans on wall street event. we can start by talking about you as a veteran having served six years in the army what do you think about support that vets get? >> it is an honor and privilege for me to be here today. being able to interact with veterans and talk about it is so important. thanks for doing this. it is hard for me to believe because it has been quite some time since i have served. i can remember challenges when i

got out of the army and the uncertainty of not knowing what i wanted to do. i think the more we can do as a business community to reach out to the veterans community and making sure that we are helping them take some of their skills and terrific capabilities they have had and translate that and giving them mentoring and helping them navigate their way through the corporate bureaucracy, some of the things are basic but they can have a huge impact for soldiers, sailors, marines. >> i know you said you are proud of what j&j is doing but you are not satisfy soiedsatisfied. >> i am proud of so many of the things we have been doing. we try to get invold with families with the uso. i had a chance to open up a facility at walter reed hospital to help families stay connected with soldiers who come back who are healing.

we do a lot of outreach and mentoring about the interviewing process and about what kind of steps they should consider. we are working on new medicines, new products to help them get better. but we are also saying what are other things we can do? how can we scale that and have greater impact on more soldiers as they work their way back into corporate america. >> how is the status of health care for vets now? what can be improved? >> i think that they deserve the absolute very best. when you look at the progress being made over the last years it's amazing. that starts on the very front battle lines now, the new technology put into place as well as how quickly they are being brought back, great hospitals here in the united states. they made tremendous advances. i'm sure there is more that we can do. the first step is very

important. what we are facing now are things like ptsd, traumatic brain injury. many of the conditions we don't fully understand yet. there is a tremendous commitment on the part of the companies like johnson&johnson to come up with better therapies and approaches. i am encouraged by the steps the veterans administration is taking in trying to treat some of the conditions that i believe we are going to be dealing with for quite a few years to come. >> i want to ask you about changes we saw yesterday in washington. as a business leader do they make you optimistic about making big decisions. do you think we will see congress move more? or do you think we will see a lot of grid lock? >> one of the messages that we have is how can we all work together to accomplish and take on significant challenges we have in front of us. whether health care and how to

do a better job for veterans and the rest of the population given challenges we will be facing with so many people getting older, demand going up. how will we take on economic challenges and make improvements in the tax system. i think these are all things as well as employment. how can we get more people back to work, fully employed and contributing. this is the next greatest generation. if we can unleash the same spirit they had when they join the service into the economy. >> thank you for joining us. >> thank you very much. >> mandy, back to you guys. let's give you a live look now at the white house where we are awaiting a news conference from president obama in the wake of yesterday's big mid term defeat for the democrats. we will bring it to you live as soon as it begins. do stay with us here on cnbc and "street signs."

♪ for tapping into a wealth of experience... for access to one of the top wealth management firms in the country... for a team of financial professionals who provide customized solutions... for all of your wealth management and retirement goals, discover how pnc wealth management can help you achieve. visit pnc.com/wealthsolutions to find out more. dad,thank you mom for said this oftprotecting my future.you. thank you for being my hero and my dad. military families are uniquely thankful for many things, the legacy of usaa auto insurance could be one of them. if you're a current or former military member or their family, get an auto insurance quote

and see why 92% of our members plan to stay for life.

i'm just looking over the company bills.up? is that what we pay for internet? yup. dsl is about 90 bucks a month. that's funny, for that price with comcast business, i think you get like 50 megabits. wow that's fast. personally, i prefer a slow internet. there is something about the sweet meditative glow of a loading website. don't listen to the naysayer. switch to comcast business today and get 50 megabits per second for $89.95. comcast business. built for business. we are moments away from president obama's planned news conference in the wake of yesterday's big midterm defeat for the party. john harwood is live in the east room of the white house. what do we expect the president to say today? >> reporter: we have a pretty clear template because we have

seen it happen so often, mandy, in recent years. bill clinton in 1994. george w. bush in 2006. and now, president obama for a second time as he did four years ago come into this room, tell the american people what happened to them, how they hoped to govern more successfully after that. rarely changes much because think there are big differences between the party and a permanent war with each other and i would expect the president following the cue established of minkmitch mcconnell today to talk about trade to work together. potential infrastructure. but not a whole lot beyond that. one of the interesting things will be how the president interrupts this message and whether he feels that it's circumscribes the things he wants to do unilaterally on immigration as well as on carbon emissions and climate change. >> we heard earlier on this hour mitch mcconnell and took the podium, as well, he says and promised no government shutdown. can we take him at his word?

>> caller: y >> reporter: yes. i think republicans came to the conclusion that was a harmful event for them, that the debt limit crises are also harmful and the fact that mcconnell will have a more substantial republican majority than even he expected, i believe, and that john boehner does, as well, means that the leaders have more flexibility to push back on the renegade members of the party and prevent those things from happening. the flip side is that the breadth and depth of the republican victory will encourage renegades. ted cruz, people like that, to push harder saying we need to redeem conservative promises. i would expect that's a running tension through the congress and expect that boehner and mcconnell will prevail in that. >> what do you think the president needs to do and adopt a leadership style to be effective over the next couple of years given the shift in power here, john? >> reporter: figure out, mandy, first of all, how much time he

has left to get anything constructive done. secondly, what can he do on his own hook? he's experimenting with the strategy over a couple of of years and gotten significant things done through that, the epa regulations and not final yet and so that process is one of feeling out, how much can i do without congress stopping me, overriding me? he has to make decisions of what bills to veto and what bills he accepts. i would expect, for example, republicans to send him an approval of the keystone pipeline and sign that. the president hasn't shown a principled opposition to keystone and been more political and some of the guardrails on that are off and republicans put pressure on and he'll respond. other things on health care, expect him to hold a hard line on things to fundamentally undercut the health care plan and not necessarily the case if things like the medical device tax and just money. the tax itself isn't important

except for money replaced and might agree to that, as well. >> previous presidents found a way to be successful, right, when the house and the senate have been controlled by the other party, but still found a way to move forward. >> reporter: you know, one of the things that was when the party controls both houses of congress is that they have more responsibility, shared with the president, for governing the country. now, can that change the way republicans deal with the president? as well as the way the president deals with republicans. that's what we're going to find out. it is possible that the depth of disagreement between the two sides is simply too great to bridge and we will have a little bit of time at least a year or 18 months the find out. >> john, we'll get back to you in a moment. we are still waiting for the president to make his statement at the news conference but in the meantime, take a look at what's happening with the markets. nasdaq is the laggard here and down by about ten points but the dow hit a new record this

morning. s&p 500 could also close at a record at 2020 and gold on the back foot by about 2%. as i mentioned, we are going to take you straight to the president live as soon as it happens. we'll go for a very quick break. you, my friend are a master of diversification. who would have thought three cheese lasagna would go with chocolate cake and ceviche? the same guy who thought that small caps and bond funds would go with a merging markets. it's a masterpiece. thanks. clearly you are type e. you made it phil. welcome home. now what's our strategy with the fondue? diversifying your portfolio? e*trade gives you the tools and resources to get it right. are you type e*?

today i had a chance to speak with john boehner and congratulated mitch mcconnell on becoming the next senate majority leader and i told them

both that i look forward to finishing up this congress's business and then working together for the next two years to advance america's business. and i very much appreciated leader mcconnell's words last night about the prospect of working together to deliver for the american people. on friday, i look forward to hosting the entire republican and democratic leadership at the white house to chart a new course forward. obviously, republicans had a good night. and they deserve credit for running good campaigns. beyond that, i'll leave it to all of you and the professional pundits to pick through yesterday's results. what stands out to me, though, is that the american people sent a message, one that they have sent for several elections now. they expect the people they elect to work as hard as they do. they expect us to focus on their ambitions and not ours. they want us to get the job

done. all of us in both parties have a responsibility to address that sentiment. still, as president, i have a unique responsibility to try and make this town work. so to everyone who voted, i want you to know that i hear you. to the two thirds of voters who chose not to participate. i hear you, too. all of us have to give americans to feel like the ground is stable beneath their feet, that the future is secure, that there's a path for young people to succeed and that folks here in washington are concerned about them. so i plan on spending every moment of the next two-plus years doing my job the best i can to keep this country safe and to make sure that more americans share in its prosper pity. this country's made real progress sense the crisis six years ago. the fact is more americans are

working. unemployment has come down. more americans have health insurance. manufacturing has grown. our deficits have shrunk. our dependence on foreign oil is down as are gas prices. graduation rates are up. our businesses aren't just creating jobs at the fastest pace since the 1990s. our economy is outpacing most of the world. but we just got to keep at it until every american feels the gains of a growing economy where it matters most and that's in their own lives. obviously, much of that will take action from congress. and i'm eager to work with the new congress to make the next two years as productive as possible. i'm committed to making sure that i measure ideas not by whether they're from democrats or republicans but weather they work for the american people. and that's not say that we won't disagree over some