>> it's a great market for you. >> the first thing to do is permit export facility in the northwest. think of the transport time from the northwest to japan sprer sus anywhere else. we got to put facilities on the east coast to get from the east coast to germany. >> a simple permits process. >> the one police to permit in the northwest is turned down twice already. >> all right. the second international, topic of international engagement, traveling with the president to the g7, g20. how are you thinking about the engagements and the message when you sit down with the -- the president sitting down with the counter parts in italy or germany this summer? >> the message is simple. we care about the united states of america. we care about economic prosperity. we care about economic growth. we care about trade. we care about being treated fairly. we want to be part of the global economy. we want to be part of the global universe. we don't want to be taken

advantage of. we want to work with each and every country out there, and we want to treat you fairly, and we want you to treat us fairl lly want to be a great partner with each and every one of you. >> you told china before coming out here, leading up to a few weeks ago, i was concerned about u.s.-china relations. the rhetoric in the campaign heated on all sides. china's an easy villain for us from an economic rhetoric standpoint, but the meeting with president xi went well. you have a plan going forward. talk about what the plan looks like. how do you see u.s.-china relations developing? >> meetings went great. i thought the meetings went great. we had 24 hours of, you know, pretty intense meetings, big group meetings, two big group meetings, and we split in two smaller groups, the most productive time. i was part of the very small group talking on trade.

we really got down nuts and bolts issues on trade. that was the meeting talking about the trade service industry. opening up china for our service business, not only the ownership, but what they had to do with intellectual property rights, software, data storage, and all their rules on having software stored on continent and data stored and localization versus international standards, and changing import/export rules. you know, we've agreed to beef exports for a long time, haven't happened, got to get beef going in the next hundred days. they plan to work with us on beef and rice in the next hundred days. we talked to them about a bunch of other issues where we literally laid out a hundred-day plan for each other where we're going to try to open up more bilateral trade where each other, both in service as well as manufactured goods.

we are having dialogues as we speak now, and i thought the dialogues went well. the president got along very well with president xi. i think they forged a very good relationship and reported actively there's been a follow-up phone conversation. president xi extended a formal invitation to the president to come to china in the fall. the president would like to go in the fall. the condition being they need to continue to make progress on the trade, in the trade negotiation. the president does not like our trade deficit. he wants that trade deficit to narr narrow, happy to have it narrowed by us exporting more to chinament doesn't mean they stop exporting to us, but we have to export more to them so the trade deficit narrows and nor rows quickly. >> we have a conference in beijing, a great opportunity for you. >> well, i'm not sure that will be our forcing function, but we'll see. >> ten years ago, hank paulson and i launched the sed process,

formal negotiation with the chinese. do you foresee similar kinds of negotiation vehicles, or is this really do your hundred day plan, come back, rethink what the mechanism looks like? >> no, no, no. the hundred-day plan is a kick start plan for things that had been in the hopper, some for four to six years, just stalling around the edges where we have to show each other that we can walk together, then we can start running. the hundred day plan is just a kvd builder, getting exports out the united states into china, decrease the deficit by us exporting, but we actually sent them in a response, a hundred-day plan, but sent a longer term plan. longer term plan not decades, but a year, and the year plan had an awful lot on it.

i mean, so we're not saying, look, it's a hundred and down done, but a hundred we start and start working hard after we get done with the hundred-day plan and start running after the big things that move the needle. >> gary, time is up, i miss you on the board. it's been good being on stage with you. in fact, the last time we were together was in china. we wish you the best. thank you very much for coming here today. thank you very much. >> thank you. [ applause ] >> gary cohn, chairing the international counsel, institute of finance, part of the world bank, imf meetings there in washington, d.c. wide ranging interview. more insights into the thinking coming from washington right now. >> very heavy on the macro, heavy on the policy. you know, by the way, it's interesting to look at the stumble of goldman's results took in the latest quarter without him at the helm. he did a lot, by the way to not only nurture a lot of women in the company, but a lot of minorities, very important that he comes from a family of women.

by the way, he was dislixic growing up, a lot to overcome, familiar to our audience, but interesting to see again. >> dick bove downgrading the stock because of the exit from goldman sachs. welcome to "closing bell," i'm bill with kelly, and we begin the full team coverage how washington moves the market today. now the dow is up 188 points. ylan, kayla on the case. first to you, ylan. comments made on tax reform. very interesting. >> reporter: bill, gary cohn there promising a united and unified plan on tax reform from the white house coming soon. he outlined several principles for tax reform including simplifying the tax code for individuals and corporations, also reducing the overall headline business tax rate. these comments made by steven mnuchin here today at the same conference and what he said about the timeline of the plan.

>> soon. very soon. very soon. and just to be clear, we hope this won't take until the enof the year. >> okay. >> we're very focused on it. big priority for the president. we'll get tax reform done, sweeping, significant, and creates a lot of economic growth. >> reporter: tax reform part of the agenda, also on the list is infrastructure. gary cohn said that the administration is considering using repatriating tax dollars to pay for funding, but government money must be a part of any infrastructure plan. he also talked about trade and need for what he called open, free, but fair trade. he's been involved in the discussions with china on ways to increase market access for u.s. goods such as beef, goods like rice, and that they expect to see that hundred-day plan

target very specific issues going forward, so, guys, we'll have to see what comes out of those discussions and what the president has to bring. >> for sure. thank you for now. that progress on health care she mentioned, meanwhile, sends insurance stocks higher. hospital shares the other way. we saw the story before, and now we're seeing it again. >> there's word, kelly, the house is close on health care reform, nearly a month after it pulled a the 11th hour vote on the american health care act after not being able to shore up the votes. the memo this morning might have been a little too early. leaders of the two sparring republican groups agreed in principle to broad amendments in the bill to appease moderates, protection for patients with preexisting conditions to appease the conservative freedom cauc caucus, waivers let maternity and mental health, and among other things, but those are the two large issues. freechl caucus said it turns 18-20 votes to yeses.

the moderate tuesday group not reached, but leader expressed support for the changes on his facebook page. the changes, plus comments overseas by paul ryan they were, quote, putting finishing touches on healthcare sent expectations today into overdrive because the white house wants a vote by next wednesday, but senior gop aids caution that's highly up realistic. the memo is not legislative language, and it's not going to be legislative language until they have more support from republicans. members of congress, by the way, they don't return in full until tuesday night. the republican conference in the house does have a call saturday. we should mention that was scheduled two weeks ago to discuss the forthcoming spending bill, of course, government has a funding deadline of april 28th, unclear, bill, where priorities lie and which gets done if anything next week, but we want to put a little grain of salt in this in reporting today. >> all right, very good.

thank you very much. by the way, the president welcomes the prime minister of italy in a little bit. we'll show a playback of that welcoming, and later this hour, they will be holding a joint news conference. in the meantime, steal stocks spike after the president's executive order in steel imports today. we have that part of the story for us. busy day in washington again. >> reporter: absolutely, bill. a bunch of things going on here. the italian prime minister's motorcade rolled on behind me, and that's right with the grain of salt idea on some reporting. i talked to a white house official on health care today who told me they are still in the same place they've been on health care although there's not a lot of activity going on. they say there's no set deadline or time frame for announcements now. the white house pouring cold water on all the flurry of speculation that happened this afternoon, and on steel, the president had a battalion of steel executives at the white house today for a signing

ceremony on camera. the president signed a memorandum issuing an expe ddit study into the national security implications of steel imports. not mentioned in this is the country of china, but china is the sub text here, concern china cuts off u.s. steel imports in a national security emergency making it difficult for the defense industrial base here in the country. they want to do that study, see where that lands and figure out what action they take after that. china was the sub text here, but canada was the text surprising people. the president took a shot at canada in the oval office. this is what he said. >> we can't let canada or anybody else take advantage and do what they do to our workers and do our farmers. and, again, i want to reiterate -- i want to also just mention included in there is lumber, timber, and energy, so we're going to have to get to the negotiating table with canada very, very quickly.

>> reporter: now, we're expecting a press conference here with the italian prime minister at some point this afternoon. we're going to see some of the pictures of the greeting as you mentioned, bill, and i talked to a white house official about what's on the table here for the discussion between the united states and italy today. here's what they told me is under discussion. nato, trade, security, the issue of migrants, the country of russia, all that on the table here. white house official noted for me italy only spent 1.1% on military in 2016. they don't think that's high enough under the nato rule, and the italian prime minister, i'm told, last talked with president trump by phone on february 4th. ongoing relationship between the two countries with a lot to talk about, bill? >> all right, thank you very much. we'll let you get to the east room to prepare for that joint news conference 30 minutes from now. in the meantime, we had a rally day on wall street, dow up 200 points, up 225 at the highs of the day. let's get to the closing bell exchange now. joining us david rosenburg,

steve grasso next to us here at post nine, and rick santelli at the c mrme in chicago. the trump trade is back on wall street. >> it is. as soon as we hear talk about pro growth policy or tax policy, it spikes higher. we've seen this a handful of times before, only the markets to flip back down and trades looking at the financials or energy or materials. when you look at those trades, the stereotypical trump trades, those slide back off. even though the market seems boring. under the hood, a lot of things moved dramatically in the last month. >> dave, meanwhile, you noted that the beige book yesterday talked about wage hikes, missing piece of the better growth story, right? >> well, look, it was interesting because the official data actually aren't showing much in the way of growth at all, but it was the most

pronounce pronounced mentioning of wage increases in a decade, and if that, in fact, is the case, economists were getting much later in the cycle, that a lot of profit is taken at the same time. rick, with talk of trade and health care and tax reform in washington, it's come off the temperature year deal. what do you think of that? we'll closely monitor this from the bottom up. the equipment around 20700. we'll see. just to mention health care and some of the other issues, it was fascinating listening to mr. gary cohn today.

if you noticed, once again, he spoke for the president in the same terms on interest rates, talking about liking low rates then, and he likes low rates now. once again, it bothers me that a man who looks at things like trade and said it's about fair trade, what he really needs to do is understand when it comes to market and it comes to the dollar, it's about fair. and free and fair markets. i don't know how to get it to the president, write a memo, but just because he likes low rates or speak about the dollar, in the end, we are a great country and wants to make us greater. figure out rates. don't have janet figure out writes, mario, let these folks figure the rates. he needs to get that done. sounds like a footnote. it's not. there's grand ramifications.

>> so when you say, rick, if you want them to treat the markets, broadly speaks, the way they treat trade? >> well, in the same way they say they are going to treat trade, yes. exactly. when he talks about leveling the playing field, it's all about fair, okay? the last administration used that word too, but when you pair it up with free and fair market, i think it makes the right change that sounds good and what we strive for, you. it's not about what he wants, or what he likes. as president, he's not a developer anymore. he's head of the best country in the world, and the reason it's the best is the rule of law. he gets that. it's about free and fair markets. >> rick, i have to interrupt, buddy because he's the president meeting with the italian prime minister. let's listen. this is from a few minutes ago. >> i look forward to that very much. i imagine many here will be going, but we look forward to it. >> thank you very much. [ inaudible ] >> thank you.

thank you. >> it's always in quick moments there, but what they'll be doing is meeting in the oval office for a while before getting to the news conference later this hour. >> the body language is part of the narrative of all the meetings. trying to figure out, steve, what the relationship will be with germany, with russia, with any of the middle east countries. >> absolutely. i'm surprised the president brought in canada today. we have enough on our plate. >> he said, i was not going to do this, but i am going to do it. >> right. it's the difference between a politicianpractitioner. when you juggle and do a bunch of things, and when the rubber meets the road and with you start to see the way the sausage is made, this is what he's -- this is the biggest learning curve to have. that vote next week on repealing and replacing obamacare or repealing it at least, that -- if they do the vote, he's got the vote. you can start buying the market ahead of that if they say there's a vote on. if not, it's the same thing

again. >> all right. one step forward, two steps back. >> we hear it may be next wednesday. see what happens there. thank you, guys. a lot to get to before the news conference gets underway. stopping here. thank you for joining us, everybody. >> less than 45 minutes to go. dow 200 points higher, making up for losses here, back above 20,000. more consistent picture across the major averages with gains of 1% of the nasdaq, 1.1% for the russell. >> live coverage of the joint news conference with the italian prime minister coming up in the next half hour or so. that's underway there in the east room of the white house. dow component, verizon, lower on heels of the earnings miss. two analysts whether they think consolidation helps verizon. you're watching cnbc, first in business worldwide.

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rules. this could spark a wave of telecom deals. >> shares down 1% for verizon now. if the deals ramp up, who would be the potential matches? joining us now is craig, founder and ceo, and news street research, guys, thank you for being here. let's beginning with you, craig. what do you think is the first move we're likely to see in the next consolidation? >> well, hi, kelly, the first thing you'll see is not verizon. the move everyone is waiting for, and probably for reasonably good reason is that they debt prattly want to do a deal with t-mobile. that consolidation could be good for everybody in wireless. i think that's probably the first cue to drop.

don't look at it as verizon sort of trying, and all that grows is tactic on the networks, which grew almost 50% and accelerating, and just launched unlimited plan to make it accelerate more. i think they are in a disadvantage position with respect to capacity. they need to do something very soon, and this dish is the one asset that solves problems everywhere. could be great for a cable

asset, and the issue is, they can't afford a cable asset at a price that cable will be willing to sell out, and it -- you know, even with respect to cable, i think dish is probably a better solution for the venue. >> where's that leave them? >> well, look, the wireless business right now is relatively inhospitable place. but i -- i think contrary to what we just heard, i think what they are trying to say clearly is that their capacity management strategy going forward is really coming from the wires under the wireless network and not from adding more spectrum. so i think that was the one message they tried to get across today was, if we're going to meet the capacity challenge, it has to be through more wires. yesterday on the network, they announced their deal with corning for fiberoptics. today, they were talking about the needs for more wires and more capacity, and they are

talking about bringing capacity in a very localized basis. buying more spectrum gnarly, i don't think fits that need as well as investing in the wired infrastructure underneath wireless networks. >> hey, john, before we go, you know, we can blue sky all we want, but how much do you think regulators allow in terms of consolidation in the industry? at what point do antitrust antenna goes up? >> i think some deals they don't have any problems before, like verizon dish deal did not have a lot of regulatory difficulty, 22 t-mobile, and could activate challenges, a deal that's 50/50 going through. the deal i'd be most excited to see is one that, you know, most people don't have any hope of going through, which would be comcast charter. i think that would be a fantastic deal. actually, the odds of getting it

through are not all that bad. people are too pessimistic on that deal. >> all right. >> we have to go at this point, tight on time as we prepare for the presidential news conference in a bit here. good to see you both. thank you for joining us today. >> all right. >> and we are headed to the last half hour trade, about 34 minutes left in the session, dow off the highs, we were at 225 at the peak today. >> coming up, live at the white house for the joint news conference held by president trump and italy's prime minister. just ahead, retailers sound alert on earnings blaming tax refund delays. why uncle -- that's a new one. that's coming up.

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i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. welcome back, moves in the market to make up for days of losses, nasdaq is in shooting distance of the all-time highs, up nearly 1%, true for the nasdaq and russell, s&p lagging, but still up nearly 20 points today. >> identifying movers in the trade. ylan, tesla dratrades lower aft the voluntary recall of the model x cars, a potential manufacturing issue could prevent parking brakes from releasing. the company has not seen accidents or skbrinjuries relat but overly cautious in the meantime. foot locker is trading higher

after buckingham upgraded them from a neutral to buy. let's not forget foot locker warned earnings this quarter could come in below street estimates. company's ceo said a rebound in march sales did not fully offset the slow start to the quarter that he said was hurt by a delay in tax refunds. we all know the irs delayed refunds for more than 40 million low income families as part of the push to fight identity theft. i heard the excuse of weather, late easter, but now delayed tax refunds. >> reveals a lot about the customer base in the retailers, depending how important a factor it is to them, who knew about it ahead of time and who learned, hey, they didn't show up. >> the stock was down 3% after the warning, but they came out and agree that the delayed tax refunds hurt, but in the meantime, they are buying it on the dip because they still see expansion of mar gyps and sales going forward.

a herky jerky day at foot lockermelocker me . i don't know where that came from. dow up 200 points. president and prime minister expected to kick off the joint news conference in just a few minutes. we'll bring it to you live when it's underway. also ahead this afternoon, visa, e-trade, and mattel reports earnings as soon as they hit the tape all in rally mode in the session. see what happens afterwards. stay with us. say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh. and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee.

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>> nice rally in wall street, picking up throughout the afternoon, the sectors are leading the way, incoming financials. it has a feel of a back to the turn rally about it. financials of 1.7% today, industrials up 1.3%, rallies rally big after the executive order from the president earlier. materials after that. on the flip side, rest down half a percent today, bill? >> thank you. the dow's 200 points and with me on the phone, matt.

seems to be the trump trade more than earnings today. >> a little credit, you know, looking at the earnings, the transimportants, yesterday's transports outpaced the market, the leadership group yesterday, leadership group again today, based on earnings. trump trade carries some of it, especially later in the day after the earnings were out this morning. >> people, though, people like the market is overvalued. are you still in that camp? what do you think it is? >> no. actually, i'm positive on the market, which is unlike me, but i don't think they are overvalued yet. another quarter yet. third and fourth quarter i'll be more concerned. optimism in business. people like what's going on, like what's hopefully going to happen, and now the proof is in the pudding. >> right. >> still give it another quarter see what happens. >> matt, thank you very much. kelly? >> thank you, guys. time for the cnbc news update with sue. sue? >> hi, kelly. this is what's happening at this hour, everybody. authorities say a 15-year-old

tennessee girl who disappeared with her teacher last month was found safe in california. the tennessee bureau of investigations tweeted the teacher chad cummins has been taken into custody. elizabeth thomas disappeared from her tennessee home on march 15th. the fcc voting 2-1 to reverse a 2016 decision limits the number of tv stations broadcasters could by. that could lead to acquisition of companies by sinclaire broadcast group. the republican chairman of the house oversight committee told the "wall street journal" he's not ruled out leaving before the term ends. as we reported yesterday, he's not seeking re-election or any other public office in 2018. and historic birth at sea world, the last killer whale born in san antonio today. the mom was already pregnant when sea world announced last year they were ending the orca

breeding program. no name yet, guys, because they have not determined whether it is a boy or girl. we'll keep you posted. that's the news update at this hour. >> i'm not touching that one. i'm not going there. >> sue, thank you very much. >> you are more than welcome. >> see you later. all right. one second here, i thought you said it was small. so, in case you have not heard -- >> oh. >> kelly is getting married on saturday. i only found out myself last hour. anyway, plenty of people have been asking me and some other staff members here if we approve of her intended, boy, do we. you guys are a match made in heaven. let me tell you. >> thank you. this is so nice. >> my wife and i celebrate our 30th anniversary on monday -- >> bill tried to warn us off. >> no, no. i only hope you have as much happiness as we have had. my side of the story, but ask her next time you see her. on behalf of the whole gang here

at the new york city stock exchange who love you to pieces, as you know -- >> thank you. >> your colleagues at cnbc and most especially the gang on "closing bell," we wish you and the future mr. evans all the happiness there, and congratulations. >> no, we are not doing that modern name thing. this is beautiful. i feel like everybody watching has seen me grow up in many ways so thank you all for being part of the journey. >> getting a little emotional myself right now. >> oh, man. i don't know what i'm going to do. this is going to be -- >> fun. looking forward to it. >> hopefully. thank you, everybody. >> 22 minutes left in the trading session. the dow is up -- >> i love working down here, by the way. these guys and gals are fantastic. >> yellow light's flashing now, dear. it's become the business world's most talked about soap opera starring our iconic ceo, the plot thickens, believe it or not. more on that coming up next. >> oh. and in minutes, we're expecting

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elliot management called for removal. yesterday, they released the letter sent on april 11th. in it, he makes reference to, quote, colorful memories of berlin in 2006, and potential to, quote, become lasting legendary. 2006 soccer ball as well, and he makes a reference to innative american head dress and, quote, singing in the rain in a fountain. the board attached the letter, they cooled it irresponsible and said it might intimidate or extort mr. singer. incredible saga and turn of events for that company. >> thank you. the market on close order sehow

the sell side by $1 billion. that's the mocs right now. in the meantime, rally continues, up 194, the nasdaq pushing for a record close here. susan lee at the nasdaq market site for us there, susan? >> bill, the level that we are watching, 5914.43 could close above that, would be a new nasdaq record close. we're looking good for 15 minutes to go in the session. intra-day record, a stone's throw away. we're still a few points away, quarter percent away, and i'm not sure we'll reach the level in the session but never know in the close, right? on a role, up from three in the past four sessions, gaining 13% from the election, and today the drivers heavy weight tech, and that was apple, again for over nine points with the gain in nasdaq 100. microsoft, facebook, and then it was railroaded operator, csx, up 9% in the last year.

love this mix of new and old industries jogging the index today. on the downside, tesla, announced a recall of certain models, model ss and model xs, and we are much wag the close another record, back to you guys. tesla down 1% today. the east room of the white house where the president is set to speak any moment now. that's live as soon as it begins right after this. in the meantime, stocks soaring today on the bullish comments from washington. where can investors find opportunities right now? sanchez is joining us from global, and we were going to talk about european opportunities. there's plenty of people who feel like the u.s. market is becoming overvalued right now, and europe is place to look for opportunities. do you agree with that? >> i do agree with that. in fact, i think what we're seeing right now is an exhaust

of the enthusiasm behind, you know, the trump victory and what that means for markets, et cetera. we've seen the administration really having trouble finding footing getting the agenda through and the market is starting to turn over that, and, yes, we are p still waiting to hear quite a bit of the agenda in the push. meanwhile, in europe, there's a lot of trepidation in concern of the brexit into the french elections. i think the dutch elections are a turning appointment. now there's the dutch that's popular, and we're going to see where the french live on that. i actually think the markets in europe have been subdued significantly more sub died on that. >> we are bringing charles lynchfield into the conversation. charles, do you want to respond to that? >> well, i agree the market outlook is slightly better in europe. we have to admit it depends on

the support that the european economy is getting from the european central banks. low interest rates, very low energy prices, and the question for me is whether the european market outlook is as good as stated, and external conditions are as good, and i think that the popular point is well, well put, that brexit does not mean it's going to disappear. the contrary, in fact. they are isolated from where the threat was not that huge. in prompt, i think, there is quite a substantial threat. the candidate will most definitely be in the second round. whoever the opponent is in the second round, they have the vulnerabilities and are devisive.

>> okay. hang on. we want to get back to the situation. gina, thank you, charmgs, appreciate it very much. we are getting more details now about this shooting in paris, and we have more on that now. will. >> reporter: i confirmed, one, the assailant killed, and one police officer has died, another police officer seriously injured. to recap a shooting that took place in the shopping district, some distance behind the eiffel tower, about 45 minutes ago. an eyewitness said a man got out of the car and started shooting at two police officers. they shot back, as i said, one died, one seriously injured. the assailant was shot and is believed to be dead at this stage as we said earlier, of course, just days away from the french election, and the state of france is in a state of

emergency, something extended just four months ago to run through july this year, and was initiated in november 2015 after the paris shooting we all remember sadly too well. bill? >> you just got there basically, have you noticed more security since you got back, perhaps, anticipating what could happen before the election here? >> reporter: i wouldn't say that i have, bill, no. i don't think i would say. it was typical elevated security at the airports, and i wouldn't say i've seen elevated security paris around today as we did reportering, and, you know, we can only expect things like that otherwise. >> by the way, you know, we mentioned this before, and i don't know other detame here, but this comes just a couple weeks after, of course, that tragic mowing down the civilians in london nearly the parliament building. as you said, we do have the

elections coming up, but sbre interesting time. they are frequent occurrences across europe. the lone wolves. >> absolutely. they spoke closely on the u.k. issue, all too easy was one of the criticisms. not enough details here to know whether it could have been prevented or information known in advance, but as you say, becoming all too frequent and just in the history of recent years of france as we said, of course, the paris shooting november 2015, july 2016, and the issue where a driver with a truck mowed down various people at a festival in july, of course, elsewhere across the continent in europe. as you say, it's all often all too worrying, and something to expect three days ahead of the french election. >> seeing activity behind you, will, i don't know if things are picking up now?

>> not much more of that, no, but the airport is closed or no one can approach it. that's taking place in the very famous street in france. the eiffel tower some 300 meters behind me, maybe 400 meters, and on the other side is the river, and -- >> you know the commonality with the attack in london, picking a spot popular with tourists, a lot of people gathering, but this feels like maybe he was not able too compete the attack he was after. you don't have nearly the cas l casualties you did in london in this particular case. >> reporter: so far, of course, two confirmed casualties, five or six -- exact figures in the

london one. the facts are different. this was used to attack the two police officers. one dead, one sueriously injure. in london, a car and knife, similarities, but different. >> will, explain that for a second in case people miss the beginning of the reporting there. what exactly happened with the situation in the vehicle you described? anything that had to do with what happened or was this just the rifle you mentioned? >> you know, talking about to y today? i believe? well -- >> all right. we're going to step aside from that, and now to the president with the italian prime minister in the east room as we begin the news conference following the meeting in the oval office. let's listen in. >> prime minister, welcome.

great honor. thank you. it's wonderful to have you in our wonderful people's house known as the white house, and so many great italian friends who are with us today, and we renew, always, the deep ties of history and friendship that link together the american and italian peoples. that history traces its roots to the timeless contributions of italy to civilization and human progress, so true. stretching all the way back to ancient rome. through the ages, your country a beacon of artistic and scientific achievement that continues today from venice to florence from verdi to a great friend of mine, great friend of

mine. bonds of history and culture have only grown stronger as our two nations have become close partners, dear friends, and very vital allies. mr. prime hip steer, i'm thrilled you are here today to discuss how we can make this great relationship even more productive in the years to come. on the economy immediately is one of america's largest trading partners. a lot of people don't know that. we both seek a trading relationship that's balanced, reciprocal. i love the word "reciprocal" because we don't have many trading reciprocal trading partnerships, i can tell you that, but we will soon, and fair. benefits both our countries and work together to achieve that outcome that we'll have, italy is also a key partner in the fight against terrorism. italy is now the second largest

contributor of troops in the conflict of iraq and afghanistan. i'd also like to thank you, prime minister, for leadership on seeking stabilization in libya and for your crucial efforts to deny isis a foothold in the mediterranean. you fought hard. we're grateful for your role in the antiisis campaign. all nations must condemn this barbaric enemy and support the effort to achieve total and complete destruction. also, as you know, mr. prime minister, we have more than 30,000 american service members, families, and personnel stationed across your country. as we reaffirm our support for historic institutions, we reaffirm requirements that

everyone must pay full and fair share for the cost of defense. together, we can address many pressing challenges, include two that greatly affect both of our countries, those of large scale migration and international smuggling. maintaining strong borders is a vital component of any security policy, and a responsible approach to refugees is one that fits the eventual return of refugees to their home countries so that they can help to rebuild their own nations. finally, i want to say how much i look forward to visiting sicily for the g7 as we seek to foster cooperation, not only in matters of security, but also science, commerce, health, and technology. our two countries have shared

interests and shared values, and we can each make great contributions to the other. mr. prime minister, i, again, want to thank you for being with us and being our true friend. italy is a speck ttacular place. i know it well. we have 15 million italians living in the united states, and it's a great honor to have many of them as my friends. thank you very much for being here. >> thank you, mr. president. thank you for hosting us here. hop n honored to be here at the white house today, and i'm now switching to italian. [ speaking italian ]

>> translator: and the president reminded of his words. this friendship, it is also a sign of 18 million italian-americans who have such an important role in our country, in this country. and this friendship is witnessed also by the fact that italy is the second choice for american students to study abroad. we're very proud of this, and this confirms the importance that the united states gives to the cultural dimension of our country. as the president himself just said, this friendship is based on a common commitment against terrorism. this commitment which is active,

and the stabilization work is decisive, the military action of the defeat that we expect. we know that this action against terrorism must take place within our individual countries, in europe, with the social and cultural commitment against radicalization by cooperating with islamic communities. italy contributes to peace and to stability in the mediterranean. in syria. where i believe the choice to react to chemical weapons of assad and to where a negotiated

solution is more necessary than ever. in libya, we discussed this in our meetings, where we work against thetabilization of the country to stabilize it. this is a very decisive path if we want to manage the migratory flows without giving up on our values and humanitarian principles. and we need to contrast the horrible traffic of people and conduct and refugees. italy is convinced of the strategic commitments in favor of the transatlantic relationship. we have also spoken about common commitments in nato. the contribution each country must make towards collected security.

we are proud of our contributions, and italy is the country's dialogue, we are proud because we succeeded in keeping open the doors and difficult cris crisis. this can be use fful vis-a-vis russia without giving up unity and principles and without giving up our strength and our values. i told president trump we have confidence although it's a difficult moment, and we all know it's difficult right now, we have confidence in the european union and certainly in the importance of the relationship of u.s. and italy. these are the two pillars that the trump relationship is based on, and great part of peace and

freedom throughout the world. we are going through a difficult time, but i have confidence the european union continues to be a positive response to this. ti finally, we are expecting and i look forward to the president's visit to the summit, and i trust that this will be the opportunity to show him the unity of our leaders of the principle free economies of our planet because right now, we really do need this unity. once again, thank you, mr. president. >> thank you very much, thank you. appreciate it. i'll take a few questions. john roberts of fox, please. >> forgive me for asking, it's been a while, in just the last

few minutes, ill it was while you met with the prime minister, there was a shooting in downtown paris. it's described as a potential terrorism attack. do you have something on that? further to that, two of the big trouble spots you deem with right now is north korea and iran. dune that the leader of north korea, kim jung-un is mentally unstable, is that why you are concerned about the recent developments if the man can be reasoned with, and on iran, do you have reason to suspect they are cheating on the agreement, and mr. prime minister, we talked about your commitment to na nato. president trump would like to see all nato members contribute 2% of the gdp to nato. you are slightly less than 1%. will you commit to committing more than 2% to the alliance going forward? thank you. >> first of all, i loved the question you asked the prime minister. i look forward to the answer. i'm going to be asking that same question very soon.

well, first of all, our condolences from our country to the people of france, again, it's happening, it seems, i just saw it as i walked in. it's a terrible thing. it's a very, very incredible thing that's going on in the world today, but it looks like another terrorist attack, and what can you say? just never ends. we have to be strong. we have to be vigilant. i've been saying it for a long time. as far as north korea's concerned, we are in very good shape. we're building our military rapidly. a lot of things have happened over the last short period of time. been here for approximately 91 days. we're going a lot of work. we're in very good position. we're going to see what happens. i can't answer your question on stability. i hope the answer's a positive one, not a negative one, but hopefully that will be something that gets taken care of.

i have great respect for the president of china. as you know, we had a great summit in florida. in palm beach. got to know each other and like each other. i can say i liked him very much, respect him very much, and he's working very hard. i can say all the pundits out there never have seen china work like they are working right now. many said back other things have happened. some very unusual moves have been made over the last two, three hours. i really have confidence that the president will tray very hard. we don't know weather or not they will do that, but i have absolute confidence he's trying very, very hard, and one of the reasons we're talking about trade deals, talking about all the things, slowing up a little bit. i actually told him, i said you'll make a better deal on

trade if you get rid of the menace or do something about the then nas of north korea. that's what it is. a men naz right now. we'll see what happens. as far as iran is concerned, i think they are doing a tremendous disservice to an agreement signed. it was a terrible agreement. shouldn't have been negotiated the way it was. i'm for agreements, but that was a bad one, as bad as i've ever seen negotiated. they are not living up to the spirit of the agreement. i can tell you that. we're analyzing it very, very carefully, and we'll have something to say about it in the not too distant future, but iran has not lived up to the spirit of the agreement. they haved to do that. they have to do that. >> thank you, mr. president. >> translator: first of all,

allow me to join president trump's words for what happened in paris. these words of condolences to the french people, a difficult period for them, two days before the election, as far as the question is concerned, the statement has been made, it was made in the nato summit, and we are used to respecting our commitment we know it's a gradual process. so we know there's certain limitations when it comes to the budget, but despite limitations, expectation for common defense is clear. i'm very proud, as i said earlier, not only by the progress made in our financial

commitment, but also proud of the contribution that we give to the security of the alliance, and in so many areas of the world. if we talk about iraq and afghanistan, we could also talk about the baltic sea or the balcons, and in all of the areas, you'll see the presence of italian forces, and we are proud of that. >> translator: i want to ask you, we saw from your administration a new type of policy international seeming different than in the past, and one of the last and important operations carried out under president trump was in syria with the bombing of the use of chemical reps of the assad

regi regime, do they see the possibility to more acting in syria? >>. >> first of all, setting apart the brexit, a great thing in that you think all the country will follow, so you know that you know the play here, sbreg grags, do you believe that actually a strong europe is important from -- frustrate united states, also looking forward, and then second question is that the g 7 is this possible in their italian trip, and i wanted to know -- >> syria --

>> translator: we immediately assess the operation ordered by president trump, and cited this is a motivated response to the use of chemical weapons. we ed added that it's up to everyone to consider negotiation as the road through which we hopefully can put an end to the war and have peace. not involved in military operations -- other than marginal aspects. but it's not our plan to change this attitude. >> yes. a strong europe is very, very important to me as president trump of the united states, and as also in my opinion, my very

strong opinion, important to the united states as we want to see it. we'll help it be strong, and it's very much to everybody's advantage. i look very much forward to meeting the pope. >> people on capitol hill believe you can get a vote on health care or a vote on a go t government funding bill. which is more important to you to have? a vote on health care or vote on the bill to keep the government open? mr. prime minister, i want to get your thoughts on a referendum in turkey that occurred last week. you spoke about democratic values in the european continent, so are you concerned with the results of the turkish referendum? something you discussed for president trump?

i want both. are you shocked? this is a great bill, a great plan, and this will be great health care. it's evolving. the press said there was a give-up. there's no give up. took obamacare 17 months. i've really been negotiating this for two months, maybe less than that. we had a 30 day period with other things. the first 30 days, but this is two months, and this is a continuation, and the plan gets better and better and better. a lot of people like it a lot. we have a a good chance of getting it soon. i'd like to say next week, but it will be, i believe, we'll get it, and whether it's next week or shortly thereafter, as far as keeping the government open, i think we want to keep the government open, don't you agree? so, yeah, we'll get both.

thank you. >> translator: the turkish referendum is a fact that we must take notice. leaving aside about how the vote took place. i believe the european leadership has taken note of the vote. the consequences will depend a great deal on how the turk irk government and the government, especially, will take into account almost half the population expression of a different. inclusive approach or a confrontation in this part of turkey? this could be very important.

for us, the europeanupon, the other thing to be very important is to respect of certain fundamental principles. we're members of the atlantic alliance, and italy crickontrib to the defense with its own military assets. we believe among our countries there should be a cooperation, and hopefully, and we trust, that this cooperation will have, among its consequences, the solution of the case concerning the journalist who is detained -- who's been deftaine the last two days in turkey.

>> translator: you focused a lot on the leadership, italian leadership and american leadership in order to stabilize libya. what do you expect, exactly, from washington, and especially i'm asking you what is necessary in this process, in this relationship of cooperation with russia? >> do you see a role for your administration in helping stabilizing libya? and do you agree that stalizing libya means combatting its terrorism and isis? >> translator: america has played a very key role, first of all to prevent the consolidation of an important basis for terrorism while they were

undergoing defeat in iraq and syria. there were operations that was against us, which have -- successful. now the commitment must be political cooperation between u.s. and italy and other key partners in the region, the goal is to broaden consensus for the government which is recognized by the international community, but which must be able to count on a broad eer consensus. i believe that one clear goal should be this. we need the region, and we need countries like egypt and tunisia close to libya, we need a stable and unified libya. divided country in conflict

would be -- would make stability worse. the u.s.'s job is -- u.s. role, sorry, in this is very critical. >> do not see a role in libya. i think the united states right now has enough roles. a role everywhere. i do not see that. i do see a role in getting rid of isiisis. we're being very effective in that regard. we are doing our job with respect to isis that has not been done anywhere near the numbers that we're producing right now. let's say it's a very effective force we have. we have no choice. it's a horrible thing to say, but we have no choice. we are effectively ruining the world of isis. i see that as a primary role. that's what we're going to do, whether it's in iraq or in libya or anywhere else. that role comes to an end at a certain point, and we'll be able

to go back home and rebuild our country, which is what i want to do. thank you, all, very much. i appreciate it, thank you. >> that's the conclusion of the press conference between the president and the italian prime minister. the prime minister took over in december. pushing through reform that failed, and in any case, they touched on a number of issues. let's get more reaction now -- in just a moment, i should add. a number of issues, just to go back to those sensitive to the market. the president said when it comes to health care reform, there is, quote, a good chance of getting it soon. indicating a vote to a new bill within the next week, within the 100 day framework, but whether it's next week or thereafter, asked about the prospect of keeping the government open, he thinks he'll get both of them, in other words, a reform bill to the health care and keeping the

government open. of course, a main issue, as well, the spending that italy has made to nato, and the president asked about that, said, that's my biggest question for this guy going forward, but it did not come up in this particular meeting. just out of the meeting now, joining us from the white house with more reaction. >> reporter: kelly, i have my mic now, and the president left the room with the prime minister of italy. couple points, president talked about health care. a flurry of advocate this afternoon, a lot of people downtown thinking that maybe a health care deal was coming together. the president here saying there was never a give-up. he said pundits in washington said this white house gave up on health care reform, and they were abandoning that effort. the president said, no, that's not true. no specifics on what the deal might look like and no specifics from the president in terms of a timeline for that deal. the president said, simply, i like to say next week, but not putting a hard date or when we might see the health care deal. the president does not see any

role for the united states in libya. he says he thinks this government, this united states government has enough roles around the world, and, finally, he said he thinks there needs to be a strong european union despite support for brexit over the years. that was a question from the italian press here in the east room of the white house. a lot of topics here. a light hearted moment, kelly, at the top, the president gently talking about the amount of defense spending. the president wants every country in nato to spend 2% of gdp on the military. the italians at is 1.1% in 2016. the president said he very much looks forward to the prime minister's answer. the question about whether they are going to boost defense spending. a lot of topics there, kelly. >> for sure. thank you. we'll had a lot to digest in the last couple hours. welcome to the second half of "closing bell", everybody, the dow lier by 174 points, 50 points from the high of the

session, but strong gains across the board. on set to react to this, cnbc procolumnist is here, michael santoli, stefanie link is here, and vice chair head of investments checking in this afternoon as well, and larry kudlow on set here. welcome, everybody. larry, what were your thoughts about what we just heard? >> just a great report. this is all secondhand, but i've been told by people down there that conservative freedom caucus member mark meadows, the chairman, has been in discussion and successfully negotiating with moderate republicans, senator susan collins of maine, and that they are agreeing on a number of issues. so for the first time as this person reported to me, if the house gets a vote in the next week or soon after, the congress may jam it through fast not taking weeks and weeks and weeks. >> called hca? a new name to effectively

repeople and replace it with? >> big replacement. in fact, big replacement, and i want to add most of the issues are being resolved, in my view, properly at the state level. for example, the so-called essentials benefit mandate, state level, community levels mandate, state level, preconditions mandate, state level. exactly how it should be. medicaid, state level. >> market is trading like it's possible there's a repeal and replace bill. hospitals hit today. the same trade, mike, we saw when it seemed like -- >> all i'm saying, kelly, that i thought it was going to take awhile there house to senate. i may have been dead wrong. what i hear today it may be going fast. >> what's it mean if all the sudden, hey, out of the blue, health care on the table, and i don't know, maybe the tax dipped this year. does that change looking at the rally we had today? >> totally changes. totally changes everything. we just went from having all this confidence from november until march, and that rolled.

then now, if we get health care, meaning we can get a bigger tax bill, right, which is really what the market wanlts, there's another rally. there's a rally in the cyclicals, financials, industrials, all of that rally hard today. >> exactly. >> that's going to happen. now the stocks revaluate because they corrected so much. >> mike, in the meantime, we note everybody can see the nasdaq closed up -- meanwhile the nasdaq closed at a new record today. >> yeah. >> that seemed to happen as well. >> yeah. that's been what's supporting the market, right? i think the one thing i'll say about the interplay of market and policy is that expectations among investors for policy magic or traction have become low. they went from basically over optimism to say we're not banking on anything coming in. maybe it seems like it's a bonus. that's what we saw happening in the market today bur, but i don think the market forces are that tightly linked to congress.

>> what happens in washington. car charlie, industrials, materials leading the way, ripping the executive order, like u.s. steel in the order of 8%, so what do you do as an investor here? do you continue to try to look through all of this to find good valuations, or do you start putting out trades giving benefit from the renewed optimism? >> yeah. i think what's important to do is to be clear that not all stocks are moving to the. we clearly, over the last year, had very high correlations, certainly within sectors where all the financials move together, the industrials, everything you said, have been very fair. we're getting a breakdown in that. individual names are acting differently. names like morgan stanley and goldman sachs traded together are now separating with big disperties making me, as a stock picker, very happy because it's not all about what happens in washington. it's coming back to what's happening in individual companies. >> since we're about to go, charlie, one or two names you

like here. >> love kkr, tradiing nine time earnings, tax reforms coming, taking the option to go into etfs. we think there's a lot of names not held by the passive investors, kkr is who we love. >> i like that. looking outside the bubble. visa earnings out, a slew of earnings headed our way after hours, the busiest week of the year, and we have results from the car giant. deidre? >> kelly, that's right. shares popping 3% in after hours after the company handedly beat expectations once again. a good quarter, etfs, 79 cents expected. visa reporting for fiscal year 2286 cents, a beat, up to 27% jump year over year. in terms of revenue, visa reporting $4.8 billion in the quarter, $4.3 billion expected. in terms of transactions processed, 26.3 billion, up 42%

year over year. payment volume up 37% year over year to 1.7 trillion dollars. i want to note this is the second best performing dow stock this year just behind apple. it's risen 17% year to date. kelly, back to you. >> all right, a buyback plan to boot. thank you. shares up neearly 3%. earnings out, you have the numbers? >> strong earnings report from trading firm e-trade. walking you through the numbers, topping expectations of 39 cents. revenue also beating consensus at 553 million dollars versus wall street analysts expectation of 533 million, and the strongest growth in 3 years for e-trade. trading firms benefit from the inflow of capital going into exchange traded funds as well as the rise in interest rates. e-trade shares up 2.5% after hours. now, a very different story for toy maker mattel.

look at the numbers. a wider than expected loss. the loss of 32 cents for the first quarter, well below expectations. revenue also disappointing, 736 million dollars, wall street was looking for 80 ze milli1 millio. they blamed overhang from the holiday period for the weakness in results. of course, one general trend, seeing the toy space, kids moving away from traditional toys and embracing the digital age resulting not just for mattel, but overs in the inventory overhang. i'll get on the call, shares down 5% right now. >> all right, thank you. mike, how does it play into the environment? you know, today, at least, it was not dow dragged down by, you know, earnings missed, verizon had one. >> i think visa's numbers tell you the kind of stocks that have been working. people love the automatic cash flow stories, basically. that's payment, volume growth. we do not see that end market

growth anywhere else. that's why it's 25 times earnings. expensive growth stocks, and mattel faces a crisis, secular decline, 6% yield before the drop. >> quickly, what do you give buyers? >> the only good thing is that quarter's only 15% of the overall total for the year, right? it's a small piece. there's that. that's about it. >> yea. >> i still thought american express was lights out. that gets a read rating. so many people still don't like it or focus on if, and it's been the right call up until now, trieding 12 and a half times forward. i'm not saying don't own visa, but look at american compress. >> i like it. varying view. thank you. larry, before you go, as well, now this is a different narrative. the whole next week is focused again on health care, how it moves along, heard it a lot in the news today, you know, are we

making too much of this? maybe. the president said, what did he say? we'll see? i like that. we'll see. very well done. there's activity, a lot of activity going on. negotiation, between moderates and conservatives in the house, and i reported earlier, between the conservative house member and moderate senate member. that's pretty encouraging. i think, you know, missing after punting the last time. i want to get this done, i would have just written a letter, we, the house membership, we want to repeal and replace obamacare. send it over to the senate. let the senate deal with it. they'll come back in conference. now, that's not going to work that way, but if they are striking deals between houses, this could happen, could underscore happen, very fast. >> all right. >> in the senate as well as the house. >> leaving on that note, guys, thank you, everybody for joining us. stefanie, larry kudlow today, appreciate it. up next, latest on the deadly

shooting in paris within the last couple hours. stay with us. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. ♪ it's not just a car, it's your daily treat. ♪ go ahead, spoil yourself. the es and es hybrid. experience amazing. so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got...

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welcome back, back to paris for the latest details on the

shooting. what do we know at this hour? >> reporter: taking place behind the tower from the now when we know one police officer has been killed and at least two injured in a van pulled up and opened fire. the police returned fire, and the attacker was dead at the scene. at least one attacker was dead at the scene. we heard from an antiterrorism prosecutor spokesperson they are opening an investigation. now, i want to bring you some video taken by krrks nbc cameraman moments ago showing a tense scene, a few blocks away from the site of the shooting, and the police in this video taken by cnbc cameraman, tactical gear, guns drawn, moving down the street, shouting orders, and apparently, seeming to be some kind of search, tense

scene as you see in the immediate aftermath of the shooting when one police officer was killed. i tried to bring you back to the election, of course, we know taking place here in three day's time because some of the candidates have been active on twitter. marie, the far right party tweeted this, emotion and solidarity for our police forces targeted, again, the republican candidate of the rightist center tweeted try buttes to the police forces who give their lives to protect ours. as i understand, nothing from the sen tryst independent or the far left candidates as of yet, but the socialist party candidate has tweeted, my thoughts are going to the police officer who was killed, support to all the police forces against terrorism. he used that word at end of the tweet. thars what we know at the moment. back to you. >> all right, will thank you very much. please keep us posted. on scene there to cover the

presidential elections this weekend. up next, bbnt ceo breaks down the regional banks stronger than expected earnings. we're back in a moment. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours.

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welcome back, regional bank index serged to the best day since march 30th today thanks to bbt this morning: company beat on revenue, missed by a penny on earnings, joining us on a first

on cnbc, the chair and ceo, kelly king. welcome back. >> great to be with you. >> we want to know broadly speaking how is loan volume doing in the banks and in the economy? >> interesting scenario out there, kelly. for our company, we had, you know, kind of flattish slightly down total loan growth because we have a couple portfolios that were running offer our cmr, a primary gauge of what's going on in the main economy, was up about 4.5%. that was pretty strong. you know, when you get out among the people in the marketplace, i'll tell ya, the excitement is at an all-time high. people are bullish, not only thinking, you know, the animal spirit, but they are actually taking action across the last few weeks, about nine of the regions, a lot of the bankers, a lot of the clients, and they are talking about buying equipment,

adding employees, building expansions. there's political rhetoric because nothing happened so far, but that's not true on main street. main street is still very on e optimistic and ready to see a meaningful increase in loan volume on main street. >> unmistakable spirit is running high. gauges show that. i wonder about your thoughts on where we are in a credit cycle when this optimism gets unleashed. you see it fraying and consumer loan gauges of default risk, of course, auto loans had a struggle, maybe the commercial real estate lending markets were hot for a while now, how does that fit together? >> well, i think some people are concerned that we're headed into a credit cycle. i do not. there certainly are some areas of concern, as you mentioned, in a multifamily, hot for the last couple years, but that's

beginning to tail off already. student loans are an issue. that's tailing off. i don't see any indication out there we are on the verge of a credit cycle. i think that obviously if we were to have a major geopolitical risk and all things could change, but for right now, i think our outlook is good, and the real question is about volume. as i was just saying, i believe volume is going to be better than many people believe because here's what people forget. on main street, people have not been investing for 18 years, and they need to invest. i told you before, and it's true, that they are driving trust for 3300 miles, 28-year-old computer. they need to invest. they want to invest. when i'm traveling out there right now, they say, you know what, i'm feeling optimistic. it's not perfect in washington, but they'll get things done, i'm going to go ahead and take a leap of faith, and they do.

>> great point. talking about how student loans were tailing off. what's happening there? >> we're not big in that, but, you know, there's a lot of concern over the last few years that's over a trillion dollars in that, but my concern is stabilizing. there needs to be a good solution there. it's not the increasing problem that we had over the last few years. >> kelly, thank you for joining us. >> thank you. >> good seeing you on the ground there. >> yeah. >> kelly ceo of bbt. house republicans are trying for a third time to pass the american health care act to replace obamacare. the details on changes are next. coming up on "fast money," one strategist says, forgets text, there's a trump trade to buy instead. this is at the top of the hour. stay with us.

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welcome back, a check own stories today. violent protests continuing in venezuela against the government of the president over that country's economic crisis. this, as general motors says it's ceasing operations in venezuela after authorities seize the the assembly plant and other assets including vehicles. tesla shares fall after 1:00 p.m. eastern today after the auto maker announced they are recalling 53,000 of the model ss and model xs between february and october 2016. tesla says there a manufacturing issue with the electric parking brake that could prevent it from releasing. shares down 1% today. and apple is going 100% green eventually. the tech giant pledges it will one day end reliance on mining

and make all products from renewable resources or recycled materials. in an interview, the head of the environmental policy says the company has not figured out how to accomplish the goal, which is great. >> a stretch goal. who knows. maybe we'll implant something in the heads and facebook brain wave readers tell us. >> we don't need materials at all. nervous, it's not -- why make the announcement? >> well, if you're the head of environmental policy at apple, you have to be working on the big stuff long term, but it is interesting, though, because nobody thinks of these things as being that much a burden on rurss, but in some way they are, especially if they are distorted. >> earth metals a few years back, do you think that's a big deal? >> i mean, 53,000 vehicles is a relatively big chunk of the install base, obviously, but it does not sound like a big issue that's going to be relevant for long. >> here's the question rs how do they recall if there's no

dealership? take them back to -- >> you know, interesting, i don't know the answer to that, but you heard about it basically being software updates. >> right. >> for tesla. they are authorize service people. >> they had people go actually visit house tohouse, a costly process. we'll see if they have a way to handle this in particular. house republicans still working on how to replace the affordable care act. they may be closer to a big deal thanks to changes. kayla tausche joins us on the new twists. >> reporter: it's not all surprising together, kelly. we knew they had to get health care done. the last deal died because the moderate conservative wings couldn't reach a deal. as of today the leaders of those groups have an agreement in principle. a challenge they will be selling their members. a freedom caucus source expects 18 to 20 new yes's to emerge

after changes allow more flexible for states. it's unclear how the moderate tuesday group would ship their votes based on added protections for existing conditions. they have reviewed details yet t. three gop aide, while optimistic, doubt a vote could be held as soon as wednesday t. president weighed in there afternoon and he said that he is optimistic and says that good changes have been made. >> this is a continuation and the play get better and better and better and it's gotten really, really good and a lot of people are liking it a lot. we have a good chance of getting it soon. i'd like to say next week, but i believe we will get it and whether it's next week or shortly thereafter. >> so far the changes, though, are a word document open one page. it's not a piece of legislation. an it's hard to risk votes accurately at least with members returning out of town. they're not returning until

tuesday. try to get an assessment for saturday. kelly, that was originally set two weeks ago, to discuss the spending bill. it's unclear whether they can get both things done in a short period of time. >> there is a suggestion the hustle is to get it in that frame. how, what are the logistics in terms of bringing this to a vote thursday? >> kelly, membership in the house doesn't fully get back until tuesday night. you of course have the government funding deadlines of friday so you really only have a couple days legislatively that you can bring this to the floor and one of the key sticking points is the funding of those obamacare subsidies. some suggested that needs to go in the health care bill so that's one of the ponds both sides of the aisle use here. it's unclear where they have the band width and what they can get across the floor. >> my question, mike, for you, is now, so we had a rally today

that seemed to move higher when we got word they were trying to move this a lot more quickly. where does this leave us now? it was a different backdrop than two months ago. >> i think aca was back on the front burner was not received very well. hospital stocks told. i think the market moved on from there. you we heard a lot of talk, hey, let's do tax reform or the tax cut. >> right. >> so you had the whole story line kind of shifted. so i'm not really sure people are necessarily saying, okay. we are back on the same train we were a couple months ago. i think you hit on it when you suggested that the white house has a little bit of its own momentum for wanting to get a vote in that might not have a lot of organic impetus in congress. >> it will be tricky to get it done. it sound like they are not necessarily getting this happen by next wednesday or whatever. all of a sudden having the ability t. fact that we are talking about it does mean that,

you know, these changes, ma ib the fact that they got so close and failed last time. i don't know, maybe they came out of the town hall meetings that the freedom caucus wanted to get something done, if they weren't thrilled by the exact language of the first bill, for whatever reason there is now it seems momentum behind it. >> kelly, when i talked to senior gops on the senate and the house side. they are aligned in the idea that the only prior they they really had on the hill was to get this repealed and replaced at least through the house. they viewed it as a failure that that wasn't able to pass t. president and the white house has said we want to make sure we do it right this time and the house isn't going to schedule a vote until they have 216 votes and they can get it across the finish line. it will come down to the minutia. because they've talked about it for sologe they want to make sure what they has is the right bill acknowledging they might have been two hasty the first

time around. >> all right. kayla, thank you. it's going to be fun watching it happen. wal-mart fights to defend its low cost reputation against the leaks of amazon, that means bad news for grocery stores, good news for consumers. though the reserve vice chair stanley fisher will appear on "squawk alley," that all start at 11:00 a.m. eastern time. don't miss it. armers, we've seen almost everything, so we know how to cover almost anything. even a coupe soup. [woman] so beautiful. [man] beautiful just like you. [woman] oh, why thank you. [burke] and we covered it, november sixth, two-thousand-nine. talk to farmers. we know a thing or two because 've seen a thing or two. ♪ we are farmers. bum-pa-dum, bum-bum-bum-bum ♪ we cut the price of trades to give investors even more value.

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welcome back him wal-mart hoping to continue saving people money t. company is investing heavily to keep food prices low, launchching a price war. the united nations united states, the price fell last year the steepest decline since 1959. it's putting pressure on other supermarket chains like kroger, for example, trying to keep up with the competitive prices, mike you have whole foods saying they want to be the lowest price, maybe not the lowest but a low price destination. >> exactly t. momentum is obviously moving in that direction. it's retailing 101 if have you the market. you have necessities. you can go in there and drive traffic. the thing about the wal-mart

customer is spending to his or her ability to spend. if you are spending less on groceries, you will probably need some more in the store. >> i also wondered. there has been interesting stuff going on with the price of eggs, which has been an extraordinary low. how much of this is hang in the supermarket when we talk about food prices? how much is commodity prices across that sector been quite low? i'm sure the grocery stores would love it. consumers would. >> sure, i think on the fresh side when you talk about meat and produce, that will be a part of the global commodity cycle. package foods, which i think is the largest part of the volume for wal-mart, that's tough for the big companies, the consumer staples companies, that doesn't seem like you will get pricing power back. >> amazon wants do meet, who is your priority when you are trying to figure out how much you will cut a price for wal-mart in the profit margin? >> and kroger, where you had these grocery stores that basically have to get some kind of margin on that sort of thing. i don't necessarily think of it

as a news story, it's one that is intense, by the way, you don't hear people complaining about grocery prices going down. they don't notice it quite as much. >> they might stop going to the restaurants. >> very weak in the first quarter. absolutely. >> michael, thank you. see you later. >> that does it for close "closing bell," everybody. "fast money" starts right now. >> "fast money" starts right now overlooking new york city's time's square. i'm mellissa lee. we have guy adami and sam seymour and pete najerian. they say do not buy. the charts look terrible. plus the french election is looming. it could be a black swann event for the market. we got a special force from the ground in paris on why you may not want to trust the latest polls. later, the make or break moment for biotech with some of the group reported earnings. we will tell you about