>> fce, it's all very smart firms, they basically control the stock. interest rates are great for this i'm going to mention alb go ahead. >> honeywell. >> good stuff. thanks, guys "power lunch" starts now welcome, everybody to "power lunch. michelle, brian with me today. "power lunch" begins with breaking news. two big torrie we are watching of course you know about the hurricane. it is irma, barreling towards florida. the deadly now category 4 storm hammering the caribbean knocking out power, destroying 90% of the dwellings and buildings on the tiny island of barbuda. >> and these pictures out of st. martin, many parts completely

flattened how they are preparing for this monster hurricane. the president set to hold a news conference this hour with the amir of kuwait, a day after the president shocked republican dealers. and new reports are out about a possible trump/schumer deal. plus the news conference live. all of that is on tap. the dow is the biggest loser, and disney is one of -- bob iger warned about -- apple is taking a hypothetical "wall street journal" set reporting that the new iphone is plagued by production glitches we will more on this developing story ahead. now to the biggest atlantaic hurricane ever that is irma she's battering the crib ban,

leave a terrible path of destruction on the islands already hit, now taking aismt at florida here one of the we have wmaq meteorologist kalee dione this is what's moving toward turks and caicos and south florida in the coming dayses this has weakened just a tad in the last update at 175 miles per hour update for those of you in south florida, you have been added to the hurricane watch. what a hurricane watch means is you could see hurricane conditions in the next 48 hours. let's go through the potential landfall timing. tonight turks and caicos where

you had see 13 to 15-foot storm surge. that would be a huge problem for the very shallow islands late going into the morning hours on sunday south florida has the potential for the hurricane. that doesn't mean you won't start seeing the wind speeds start to go up as early as tomorrow afternoon, even tropical storm force winds starting for florida friday night into saturday morning. you need to make your final preparations today now to jackie deangelis where people are preparing. >> this is florida's largest port by revenue. they are making final preparations here, winding down operations right now the deputy port direct oi telling me the target to close operations would be tomorrow night they're working very closely with the coast guard on that you can see some of the

containers behind me these are actually full of product. it's the empty containers that could potentially be a problem when the wind gusts come, they can be blown around. that's one of the evidence 3/4 making this is the second largest petroleum port in florida as well people are concerned about that. and finally it is the third largest cruise port in the world, so you can imagine how many ships are traveling through here i want to give you a sound bite from the deputy port director. he explained how the -- >> we have one tank ship in. it's the last before the storm arrives. >> okay. we're having trouble with jackie's length there. it's a beautiful day in south florida right now, not certainly a forecast of what may be coming over the weekend

irma coming so close on the heels of hurricane harvey. one of the questions now can fema and other government agencies handle another historic storm? one that could have a direct hit on the state of florida? very densely populated down there in south florida, of course let's bring some mark missjack, director of recovery for haggerty, he's also a former fema director, and most recently helped new york city recover from superstorm sandy. does fema, does the federal government have the band width to handle two recoveries at once >> they do this is something the agency organizes all year round. and the fact that, you know, all disasters begin and end at the

local level. the federal government can come in to support multiple events. >> if they need more people, where do they get them is it a point at which you call in the national guard, but the army, the regular forces >> fema has a number of unique authorities that allow them to size, according to whatever the need might be. they have a very powerful mission assignment authority, which allowing them to essentially compel and pay for other government entities to come in and do disaster work, both on the response and the recovery they also have relationships with private nonprofits, both at the voluntary level, you know, nationally and locally, and the ability to actually source contractors through their technical assistance contracts. >> what can people do, mark? >> as far as individuals, follow

the advice of local authorities who are trying to get you to safety, reduce the impact to human lives. i think life safety is the biggest piece. at this point there's probably relatively small things that can be done to help secure property that might be in the storm's path, but probably very little in that regarding. for people in other parts of the country, certainly you can look at donation through a number of national voluntary agencies, specificallio specifically donations of a financial nature are most easily fit into the needs of a storm. >> the people in houston, they shouldn't be worried that their needs will be unmet or fema will not be able to handle at the issues they are facing as well >> no, it wouldn't be specific to anything that happens because of the florida event that would cause any challenges in houston. however there's still a lot of complex recovery decisions to be made that can guy how that will go. >> talk to us about the building

codes in south florida this will pack winds of a scale that really may have never hit in south florida after andrew, which was i guess a category 4 storm, i gather building codes were changed somewhat are the buildings there better president to withstand the kind of storm that this is? >> generally the answer is yesterday. they have adopted -- storm leave. that goes back to i think about 2002 there have been quite a number of years in which any new construction is built to that wind load. so, you know, you'll see a bit less damage based on that, but there will alleges road for improvement? coastal communities. >> tremendous number of cranes that we just saw on video there. what do you do with cranes >> you know, crain operators and the companies that operate them

typically, you know, with some number of hours' notice can move and position them so at least lessen a chance they may buckle or collapse, but at this point i can't speak with much detail about how many and how many they were able to secure. >> you worked with superstorm sandy recovery one of the things i remember is they talked about gasoline shortages, but it wasn't short there were shortages, but no power to operate the pump for the gasoline stations. >> that's absolutely correct without power, and whenever you look at a storm of this ferocity coming through, loss of power is a given in a number of areas after it passed through puerto rico there's 68% or 70% of the power is out, and i think that you're going to see some pretty high power outages in florida. there are pre-positioned

generator packs that i know the state has come to agreements with with fema, and corps of engineers power restoration teams that should be able to assist with that should fuel become the crisis. >> mark, thank you very much for your insight thank you. more developing news out of the d.c., president trump and senate minority leader chuck schumer, yes, you heard right, have held discussions about permanently removing the debt ceiling. john harwood joins us with this latest twist john >> there's less than meets the eye in terms of the actual event happening. it's more likely to make republican heads explode chuck schumer and president trump had a meeting at the white house, along with nancy pelosi and the other leaders. we know they cut the small deal to extend the debt limit for three months, extend government

funding for three months, that gives democrats more leverage. now word has leaked out that at the end of that conversation the democratic leader schumer said to the president we should get rid of the debt limit permanently. many people who are serious about government, democrat and republican, favor doing that however the debt limit has become the weapon of last resort for conservatives who haven't been able to win fiscal arguments, to hold budget deals hostage to the need to raise the debt limit they are not going to give up that leverage, and i don't believe that house speaker ryan would put such a bill on the floor. this is going to further roy royal -- further roil republicans. >> he has alleged to have voted

democrat in his history. >> yes. >> obviously the democrats have lamb baased him over the last eight, nine, 12 months do you think now we are going to see more bipartisanship as maybe we have in the last few days than the previous 16 years combined, a guy who is not a party man will prove that the unexpected president will do unexpected things? >> i doubt it. >> not impossible, but i think this was a unique legislative imperative, and misthat's a guillotine over the government that can be used by either side. i think the president facing -- the only way he will make progress on his agenda is by working with republicans maybe there will be things they can get democrats to agree on, but in terms of changeling fundamentally his approach and

becoming somebody who is triangulating, i don't expect that >> let met put out a wild thought, john, and get your reaction to it as i looked at yesterday's developments here, i thought two things, one, this is a president throwing a fastball up until the chin of the republican leaderships, a brush-back pitch. >> yes, and they went to the ground. >> and they went to the ground they did went back to the dugout. the other thing i was thinking is maybe there's a certain wily genius in having a lot of things come together at the end of the year, the debt ceiling, budget deal, potentially tax reform as a deal maker, when you have lots of things to deal with, does that in a funny way create more opportunity for you to get what you want in you see what i'm driving at >> i do. there's been a possibility that's been out there for some time and alluded to by some people looking at the complexity

of the situation, that we will end up with a global deal on a bunch of issues at the same time. >> right. >> the question is, is that deal going to reflect things that president trump wants on all or over most of those issues? i don't know that that's the case remember president trump proposed a budget that was radically different than what is going to emerge from congressional spending in a cooperative deal with democrats. i don't know what he can propose -- or what he can get out of a deal by lumping everything together that is better than he could do individually i just -- i don't see it yet, but we're going to be watching. >> thank you, john we should add there's a big rally going on in treasuries one of the reasons is maybe they see this deal with the democrats, and will there be more democratic influence on policy that's one of the reasons being talked about media stocks are dropping. our parent company comcast down

about 6%, disney down about 3% others also getting hit. we'll tell you what's sending them all lower. plus happenle is under pressure on reports that the new iphone is being hit with production problems. both of those stories arstke ead.e ri straight ahead. track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

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we just got this tape in. >> over the years, thank you very much for being our guest at the white house and for all of your representatives we very much appreciate it we have many things to discuss include trade and -- >> okay. >> i think they're going to re-rack the tape -- it's back. we thought it was back. >> c'mon, cbs! >> bring president cbs stock as soon as they get the playback back we're going to bring it to you. eamon javers, are you there, buddy? >> reporter: i'm here, yes something is working right today. >> you are always live and ready to go. this is very interesting, eamon, i have to imagine the last 24 to 48 hours to the folks you were talking to, the republicans are running for cover. democrats may be skipping through the aisles

what are people saying about this u-turn from the president >> folks are scrambling to figure out what exactly it means. that's why this tape we're about to see is so important we have a report that the president talks about the debt ceiling. listen for him to say this, angelos as the ceiling is there, it will be respected we'll talk about getting rid of the whole thing. we'll have to get the context of what the president means when he talks about getting rid of the concept of the debt ceiling altogether, and of course he cut that deal with democrats just said he says there would be a new relationship when dealing with congress it's what the americans want watch his tone and attitude when he talks about a new relationship we'll see what he means by that, this is a president clearly frustrated with the lack of progress and yesterday decided to try something very different. he had been working with

republicans and particularly the majority of the majority strate strategy yesterday he decided to undercutting his own treasury secretary in the process, but feeling like he's got some room to maneuver. we'll see what the president has to say. >> we will, as soon as we get the tape play president did back eamon, thank you. >> you bet. your top stock story disney down 4%. it is responsible for the about half the losses now. julia boorstin joins us live in los angeles with the reasons why.

disney shares dipped about 4% after bob iger warned that fiscal earnings would be in line with last year, short of analyst expectations last year's earns were 5.72 per share. that's 16 cents lower than analysts' consensus according to thomson reuters, applying fits -- that analysts expectations iger contributed the short-day-old fall to a number of reasons costses related to buying bamtech, as well as the cancellations of three cruises and shortening of others comcast shares plummeting over 6.5% on warnings about the third quarter from it is evp of comcast xfinity services, saying

that competition as well as hurricane harvey, the company expects to lose between 100,000 and 150,000 video subscribers, calling the quarter the most competitive in recent history. strauss did say, though that comcast still expects to hit its financial numbers this quarter guys, back over to you. >> this is cord cutting? is it that simple in. >> not necessarily we've seen competition from the other capable companies as well as directv now owned, of course by at&t. there's a lot of lower-cost options being offered there. there are also a lot of skinny or digital bundles being offered from the likes of hulu and youtube. we're seeing they factors at play, but we're seeing all these cable companies try to cut their options, so it's not whether people are switching to one of these new options.

>> to me that sounds like cord cutting. >> cord cutting means you're not paying for any bunding. >> it's a misnomer no cord is being cut, in most cases. >> here's the thing. >> they're subnot subscribing to cable. >> it depends. they can go from a prime yurt to a lower tier >> they can go from a premium to a lower tier, but also a question of these new digital bundles, for the media side, they want to make sure that people pay for any bundle. so all of the media companies want you to pay for a bunding whether it comes from youtube or hulu that means you're still paying to networks and capable

television >> shouldn't -- we have so much going on should we view this as a surprise with comcast? you and i, we have all talked about this you can't just call up comcast or charter or too many warner and say i don't want espn anymore, lower my bill by $5 or $6 if you downgrade, you're going to lose a bunch of channels or if you cut you lose everything, so if espn is losing these subscribers, wouldn't you assume that a lot of other people are losing the same number >> yes, when espn loses bunding, every other cable network also loses subscribers. what we are talking about right now with comcast base odd their commentary about competition is people like leaving comcast, because directv has a special deal >> i'm sorry, we've got to get to president trump who's talking

about the debt ceiling thanks very much >> we could have done a laundry deal, but that could have affected the military, as you know, so we kept it three months because of the military. we have a great respect for the sanctity of the debt ceiling, and chuck does, and nancy does we all do. so that will never be a problem. that ceiling will never be a problem. we would have done a one-year deal, but we couldn't do it for one rear, called the military. we need it for the felixibility, especially in these times and we're looking a -- i was just telling the amir, we are increasing the military purchases in this country by many, many billions. new fighter jets, new ships, things that we need, things that should have been bought over the last ten years we're making up for. we have the finest military equipment in the world, and

we're now the biggest of all buyers, so we're strengthening very substantially our military, but we couldn't have done a longer deal because of the military and because we all wanted to have it in one package. mike was with me, our vice president, and we had -- mike, you may want to say something about it, but i thought it was a very, very friendly -- it was a meeting that we all wanted to get together and do something. i think the primary reason was because you look at north korea, you look at the hurricanes, look at what is going on in the middle east. i said frankly it's time we walk out, shake hands and have a deal there was a lot of good spirit in the room, but the reason we have the 90 days, certainly we

will extend on the debt ceiling, they understand the importance that's really a sacred trust. >> reporter: you want to get rid of that process entirely, mr. president? >> it could be discussed for many years people have been talking about getting rid of debt ceiling all together, we discussed it at the meeting yesterday. it complicates things, it's really not any but it's certainly something we could discuss. as long as it's there, it will never be violated. thank you all very much. >> most particularly the -- to extend for 90 days the budget resolution that funds the

government, and to extend some -- or raise the debt ceiling. the newsworthiness is that the president sounds open to the idea floated in some quarters in the past of doing away with the, quote, debt ceiling and to put a cap, basically because you can't borer more than your debt ceiling will allow we are awaiting a press conference with the president and the visiting amir. we'll bring it to you. can i get some help. watch his head. ♪

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a ask. thousands of people are evacuating florida ahead of hurricane irma traffic is backed up for miles on interstate 75 near ocala.

governor rick scott says the biggest challenge facing that state is a shortage of fuel. >> we know fuel is very important. we are absolutely devoting every state resource to addressing 24 and talking to the federal government about their support while we are making progress, you will see lines or outages, unfortunately. i know this has to be very frustrating. we will not stop working on there. russian president putin meeting with japanese prime minister abe speaking at an economic forum, putin is ed russia is ready to offer cooperation, because it's better not to drive about i don't think yang into a corner south koreans protesting the appointment of four addition at thaad launching. protesters and police men were injured -- clashes michelle, back to you. >> thank you very much, sue.

you know, this is one of those standard press conferences where there are two questions on each side, and call me crazy, fred, but i think most of the reports from the u.s. side will be about the deal that president trump struck with chuck and nancy, as the president described them this last tape playback. am i right about that? how extraordinary is this? >> the deal was extraordinary on its own just this short-term deal with the democrats over the objections of some of the republican leaders, but it's an even bigger deal that the wos is writing that there's a gentlemen's agreement to explore with schumer and pelosi about doing away with the debt ceiling altogether, and for your viewers

this would be particularly a godsend. and as it bumps up against a ceiling, it always has to be approved by the congress and very often it's politicized, and it shakes markets almost every time this happens. if he can turn this into a real deal, that's a very big change >> john, in fact the president himself made reference where he was asked about trying to get rid of it. one thing that's happening today, john, is that we are seeing some moves in markets, treasuries rallying, for example, with this idea that maybe, as we see president trump work more with democrats, you will not get the kind of -- pro-growth policies. is there any chance the president will do more stuff

with the president >> i don't know what more stuff he wants the tax cuts he's proposed in the past, like the ones that republicans have proposed in congress are not things that democrats would go along with. so is it possible to make a deal with democrats on taxes? yes, but i don't think it's going to fit what the president has said he wanted to achieve or what republicans have said they wanted to achieve. as for fred's point about getting rid of the debt limit, it would be a big deal to our viewers if that happened, but i think it's highly unlikely that you're going to get in a republican-controlled congress an agreement to put on the floor and pass an elimination of the debt limit there's some people when president obama was struggling with this, some people said th president could exercise his constitutional authority to in effect end the debt limit by saying the provision of the constitution says the full faith appeared cried of the united states shall not be questioned,

giving him the authority to do that i would be stunned if president trump decides to pursue that path and do it individually. but to me that is the only way anytime soon that that is possible to get rid of the debt limit. >> fred, the way it's gone, if you're a republican and you stray, the republicans go after their own, right if you're a democrat and you stray, they go after their own and they eat you is there anybody in congress that is brave enough to actually cross party lines and say, you know what? i don't agree with everything in this, but i've got to do it because it's for the good of my constituents or the country. are we going to finally see this kind of bravery from anybody in congress it's literally been red/blue, that corner/this corner for 16 years. >> he's right to say he would be stunned if something like this could happen

on the other hand president trump seems to like to want to stun us, and in terms of congress, they have to start bringing home in stuff before the midterm elections. they're going to have to show that they can get some things done i would think that tax reform is the biggest vote-getter. this is a president who loves deals. i've been talking to foreign leaders looked at transcripts of that their talks the one word that appears more is the word "deal. i think when he sees that a deal, after all the deals he hasn't been able to close, if he can see he can get one that would be a winner and he is not as beholding to then i don't think he's going to stop from going across lines to do that. >> well, it's certainly a mold-breaking approach, as brian point out, for so long it's been us versus them on either side, and the president seems to be

rewriting an awful lot of the norms, mohrs, rules, if you will, of what washington has lived by over the past decade or so we're going to take a short break, as we await the president and emir of kuwait we will bring it to you live when it begins first to rick santelli for today's bond report. >> excellent today was all about the ecb and in many ways their markets were our markets. we are drifting or down to 203, we settle at 210 at 205 we're still down 5. you see on this november start that's the last time we were at these levels with you euro down -- with the euro up, the dollar was down as you see on this chart. it continues to make new fresh lows going all the way back to the beginning of 2015. and look at bund deals that's an intraday our market pretty much followed,

they're highly correlated. mario draghi was king for a day. we'll have to see how it turns out as we get ready for our big meeting. but before that, of course, we're going to go to a two-minute break on the other side, trump and the emir press conference, so don't touch that dial. ♪ ah the moon belongs to everyone ♪ ♪ the best things in life they're free ♪ ♪ stars belong to everyone ♪ ♪ they cling there for you and for me ♪ ♪ flowers in spring ♪ the robins that sing ♪ the sunbeams that shine ♪ they're yours and their mine ♪ love can come to everyone ♪ the best things in life they're free ♪ ♪

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we're putting away acorns to show the importance of being organized. that's smart. who's he? he's the green money you can spend now. what's up? oh you know, gonna pay some bills, maybe buy a new tennis racket. tennis racket for a squirrel? he's got a killer backhand. when it's time to get organized for retirement, it's time to get voya. we have moved over to the east room. a lot more news here to talk about, including the president's comments there on the debt ceiling and what his possible plans for that might be, in particular the idea of working with democrats on the hill you say that tape played back earlier. that was from a gathering in the cabinet room they'll do what we expect, the classic two-and-two, each

leaders takes two questions. wee see what topics get asked about. the president seems to be wanted to strike a bit of a new tone after the deal he cut yesterday into december, hurricanes funding keeping the government open, the continuing resolution, all of that on the president's plate, even as he deals with kuwait, and then, of course, hurricanes, multipal hurricanes bearing down on the united states, all of that on the president's mind as well we with expect questions on any of those topics, brian. >> thank you very much, eamon. we'll check bulk in in a few minutes as this press conference get under way. meantime apple is under pressure on reports the new iphone is being hit by production problems. we'll talk about that and more, straight ahead when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world.

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appear the shares down about a half percent there are reports that the new iphone may be being hit with production problems.

deidra has this story. this is a "wall street journal" report citing sources that apple's new imphone has hit glitches this all comes as apple is getting ready to unveil its next iphone 8 on tuesday. according to the report, it could lead to a setback of about a month in the manufacturing timetable. apple shares had been hitting record highs in recent months on anticipation of the new device however analysts say they have been hearing rumors of production delays for month. some say it won't be a big deal if it's a delay of a few weeks, but apple has declined to comment to us. back over to you guys. thank you very much. meanwhile, the comcast, the parent of this network, warning about subscriber losses, stocks

off the worst levels of the day, but still down about 5%. joins meg is thomas egan. >> give you some context on the subscriber losses and how worried investors should be? >> well, i think the market has overreacted here it seems like more emotional than anything els we don't know how much of it is because of hurricane and how -- the number they want were more than expected, right? >> yes yes. so if you look at the consensus number, so consensus was that

comcast would add about 9,000 video subs in the quarter, our nom bers are a little more than that, but now the decline could be between 100 and 150,000, so again for the stock to pull back by up to 6% seem loon around overreaction, especially if half of those numbers are because of the hurricane. >> you got to my question. how much of these video losses are hurricane related and may never come back. how much of them are due to other factors? >> from a strategic perspective, you would almost rather have that decline be hurricane related, right that means they probably will come back. >> right, but even if you assume that they never come back, the impact to next year's revenue wee de minimus, right? it seems like an overreaction. if you look at over the top, we

are seeing launches of new services, hulu live and youtube, but if you look at the ones that are already out there, the addition in those subscribers have slowed, so we're seeing slow you are grout in q1 and q 2 in this year, so no evidence that would suggest the subscribers are switching over, is the idea of what you're saying >> yeah, i think you will see a lot of experimentation but i think at the end of the day most viewers watch about 120 hours of tv a month, so they aren't going to be satisfied with just a couple streaming services, so you have to add them all together. if you add them all together, it would be higher than a cable bill. >> it's hard to say this because

i'm ultimately a comcast employee, but i'm also a users. >> what's interesting. i'm not say this because comcast is our parent company, butthey are the netflix and hulu is coming together of converging i can access all k-inds of movis and contexts for my kids last night i was able to click through a netflix program when i did a voice search on exfinity if the comcast world and charter continue to evolve, at what woint does th point does users lose netheir

distinctions >> they're launching instant tv. that's a service without a service box. they are launching vservices and netflix is going to be adding youtube. >> how do they make more money, a lot of people don't want cable but they still need the broad band to watch all the services such as hue hulu and etc. clearly broad band is profitable than video you don't have to pathos pesky televisions. with this fcc, probably loosening the halt on neutrality a little bit you will likely see higher pricing. we do expect cable operators will be able to have more flexibility with the pricing on

the internet thomas, thanks so much >> sure. the president is expected to hold a press conference now. we'll bring it to you live "power lunch" begins back in two-minutes. m, [vo] quickbooks introduces rodney.

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live pictures, we are waiting for president trump. we'll bring it to you live with a preview. >> reporter: hi, we are waiting for the conference, that pushed us back in this room we are expecting a press conference here at this moment i want to go back to the president's comment. you heard the president talking about the debt ceiling and he's talking about it in a way that we are not used to hearing the president talking about the debt ceiling. he says there are a lot of good reasons to do that it was something that was discussed at the meeting with congressional leadership yesterday.

he say as long as the debt ceiling is in place though, it will be honored here by the white house. that's an interesting gambit by the president here of the united states a lot of members on capitol hill feels very frustrated of having to vote for something they don't like inherently which is increasing u.s. debt it is not something that we are used to hearing an american president talk about >> no, it is not it is more about that one when the news conference actually happens. breaking news right now that we have to get to hurricane jose, don't forget there is another one out, upgraded, our waq meteorologist kaley is here with us.

>> all of our eyes are on irma we'll start here of the latest update of 170 winds. the model is still on an easterly track, it is still moving to the northwest, we are lo looking at a south florida land fall still possible. you can see it moves near turks and caicos it is expected to impact until now. it is dealing with outer wall and as well as thunderstorms and there have been a hurricane watch that's been issued for florida, south florida for the keys what that means is hurricane conditions in the next 48 hours of increase of wind speeds throughout the day tropical storm winds here are

going to be anywhere from 35 to 75 miles per hour and could be felt as early as friday night. we'll have more details and we'll take a look as we'll get into it later this afternoon >> what will it be category four or five? >> it is going to weaken just a little bit category four storm. the water is warm where it is now and where it is in south florida. it is a low sheer environment. both are element to keeping it strong once it gets closer, that's where we can feel a little more sheer and that's going to start weaken that storm and as it turns to the north, it is boego to get to cooler water and more sheer. also looking at a land fall for monday and tuesday at a category three and two storm. >> it is a category five right now but some of the winds havelesshav have lessen a little bit, i will take it. they have dropped about 5 miles

per hour, that's not much. a large category five storm. >> yeah, tomorrow. a number of airlines cancelled a number of flights tomorrow tomorrow you mentioned there could be tropical forest winds starting about, how fast does that mean >> we'll have a steep climb in wind speed throughout the day tomorrow, namely for extreme south florida. that's the tropical storm forced wind we'll see the big difference it is going to be increasing throughout the day tomorrow. really today if you have to make any last minute preparations for the florida keys you need to do that and finish it today kaley, thanks very much wechlt s we'll see you later. lets get to morgan brennan with more preparations in florida >> reporter: i am standing here in miami beach al mandatory evacuations is put in effect here

you are seeing long lines and one gas station said they had this a couple of hours ago, they had an hour's worth of gas left. we are seeing businesses all over this island begin to go about the work of boarding up their doors and windows and you guys were talking about american airlines and the impact there. we flew in from houston late last night, the terminals here at the miami airport and the house of american airlines were jam packed last night. agency at the airport last night about an hour wait for an suv and that was only if you had a reservation. people are getting the work here of starting to evacuate and starting to get to safer ground. it is not -- the storm and this hurricane could be worst, the last category five hurricane that made land fall in florida, that was andrew in '92 that's quite alarming. a warning of high storm surge

and excessive winds. guys, it is just been 25 years and two weeks ago of the anniversary of that storm and in light of that before this hurricane even forms air worldwide puts out a report saying that based on the population growth and all exposure that we are seeing here in south florida that if hurricane like andrew, category five hurricane made land fall south of miami in today's dollars, you would looking at $138 billion ensured lost. that's absolutely -- that's the reason why you are seeing insurance selling off all this week stocks and homeowner insurers and also reinsurers and

renaissance have been selling off with double digits when you have those types of losses reinsurance gets triggered we see reinsurance prices gets depressed. that's why you see major market reactions to the storm in the insurance sector right now >> 130 billion possible insurance losses >> 138 >> that would be a record. >> reporter: yes >> the total loss of katrina is slightly bigger but not in insurance losses >> reporter: so inflation according to insurance information institute and just to put that in perspective, on the hills of harvey, harvey is going to be an earning story if irma really does have losses like that. it becomes a capitol story for

insurers the insurers have a record amount of record capital right now. when you get about $100 of losses, that changes >> thank you so much, lets go to ayman. >> reporter: hi tyler, one of the delays here, you get to chat with the white house's official, i was chatting with kellyanne conway moments earlier, the idea of ending the debt ceiling all together, it was discussed at a white house meeting the day before yesterday two consecutive days discussions about that well, was the president responding to the question of the idea of debt ceiling being eliminated or a real push here, kellyanne conway says the president does not

[ music playing out lo -- muse as well as much as we think he does. he was frustrated by the repeated vote of the debt ceiling seeing something that's not necessary on capitol hill or the political process that gets in the way and members of congress and folks here trying to conflict. there were two days of discussions about the debt ceiling here at the white house. anything on tax reform at this point or tax cuts. the deal with quote, "chuck and nancy" means of anything getting done with taxes. >> i said there seems to be something of democrats here at the white house today.

>> maybe the white house is looking for other solutions, how that plays out on tax reform though, it is too soon to say. we don't know how frustrated republican leaders are with this news do they see it as a temporary thing or the president is reaching out as paul ryan says at the moment of hurricane trying to have some national unity and bipartisan ship. we'll see how it plays out >> let me ask you, sarah, how much have president trump have changed the center gravity of politics how much does it change? >> well, i think it is hard to tell at this point we don't know if this deal of

democrats is temporary or short lived or something that he plans to do in a broader fashion on infrastructure on other issues i do think, if you think of the trump's base, he's base is solidly behind him doing a deal with chuck schumer and nancy pelosi and raising the debt ceiling for short term and bringing it back and increasing spending on hurricane harvey, although critical and needs to happen, it is not something that tea party constituent loves. the way he did it even though there is no love loss, i don't think it is going to sit well >> i agree with what john said earlier. i see no chance that you are going to see a full repeal of the debt ceiling

speaker ryan and mitch mcconnell may go along with the three months deal. >> i would depart from your thesis and maybe john, you can jump in with a comment here. i would depart with your thesis in this way, i think awful a lot of mr. trump's basis not that kind of orthodoxy but a different kind of cat who likes the fact that he breaks the rules and the molds and he attacks the established way and doing business in washington and he does it with an unpredictability that appeals to him. john, would you pick up on that thought? >> i think there is something to

that, tyler. it is important to know a couple of things. his basis smaller than before and his number have come down over the course of the year. not dramatically he's got fewer than he had before some of that basis marginal and have gone away from him. secondly, once the president begins making choices and says, for example, i am going to sign a daca bill that nancy pelosi and chuck schumer want to put on the floor, he can do that, but i think that's where -- sarah's sample, the rubber would hit the road in terms of people listening to what he says on immigration and trade and that sort of thing, the white/blue color voted last year, wait, what is he doing if he wants to define success as simply as having wins and having things that he could sign, he could do them and you know, for

example, paul ryan would be delighted to put a daca bill on the floor and have that pass can trump shield them from that base i don't know i am not sure if donald trump will get a lot of blow back on that >> i was struck by something you said a few moments ago that donald trump at his heart and soul ais a guy who likes to do deals. he likes to get deals done it seems to me yesterday what he did in effect, okay, gop leadership, we have not gotten deals done so far, i am going to do it in a different way here, i am going to show you that i am womening to make deals with your fierce opponents and i am going to show you that i am unafraid to make a deal where i see eit

talk to me about that. >> agree with you there. i always feel sorry for our foreign visitors. >> we can come back to him later if you want. he's a populist but he's a pragmatic, tyler we are goi when we get in the deal with president xi jinping , he start doing deals. each of these deals is done separately and on its own basis. he may actually need allies from one deal where he's upset people and another deal where he hopes to come on inside and he separates that in his head i don't know how that's going to

work and the political hot house of washington. clearly, it is not -- i am going from democrats to republicans, what do i need to do in this setting to do this deal? >> i think we need to make one point which is so far in his presidency, donald trump have proven to be bad at making deals. he thought he had consensuses of repealing and replacing obamacare, did not work. he said that he was going to get xi jinping to pressure north korea to give up its nuclear program, it did not work i am not sure and he may in his head identify as a deal maker. he does not have the result. >> sara, i would like to get your reaction on that. is president trump learning and if so, what? well, i can argue that both

ways with respect to this debt deal, in that respect, he's not learning because he's going to undeal about this again in december he should be in ahmad l of a tax reform where he maybe learning though, tyler, if you want the hurricane release and you consider the most republican in the house who tends to be opposed of the spending no matter what the reason including travesty and their own country, he thought that was going to get bogged down in politics and not get done -- taking too long of a period to get done, this maybe a smart move >> right >> i don't think in the long-term will be. >> i am sorry, we'll have to leave it there we'll spread the same to you, john, and our long loss friend

who's been in the room as where. don't be confuse with amir >> we'll bring it to you live when it begins "power lunch" is back in two-minutes. so we can shar amazing t 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. ♪ to err is human. to anticipate is lexus. experience the lexus rx with advanced safety standard. experience amazing. for tech advice. dell small business advisor

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hurricane jose have been upgraded to a category two

storm. air flights are cancelling flights to florida phil beleau is joining us. >> also, to the north and extending to orlando and i am not surprised to see go further north as irma moving into florida and moving up to the east coast of the united states if that's the path miami international cancelled 80% of its flights today. flight in the puerto rico has cancelled. airlines have cancelled 41% of their flights out of miami tomorrow airlines are adding seats and flights. this is not getting as much attention but it has been taken place. delta and when you talk about the miami flight for delta, they added two additional departures. fiver larger planes have been added where they took a smaller planes up to a larger plane, d

additional 368 seats they added extra flights and larger plane and a total of 1,000 seats have been added there and flights have been added bayy united and american airlines those are whining down tomorrow and flights out of orlando stopping on saturday afternoon the bottom line is this, guys. airlines do not want to be caught as some of them were with harvey, putting flights into an airport up to the last moment that you have mass jers stranded tat airport. that's why they are whining down operations tomorrow. >> thanks very much. joining us on the phone is robert crandall and joining us

from houston of continueental. >> when luke at what's happening in florida tomorrow, familiarly in miami and fort lauderdale 42% of miami flights are cancelled. boston and new york is a comparison, 1/2% the storm is not going to hit until saturday i admit and i don't understand how operation works with airlines gordon, why would you cancel so many flights on the day where so many people are trying to get out? >> so we don't have gordon's mic. >> go ahead. >> no you do we can hear you now. >> i am sorry, it is like a wristwatch, there is a whole lot going on behind things you

cannot see getting to the airport is critical as getting there and p passengers how about you mr. crandall these guys are getting ready literally taking hundreds of airplanes and thousands of employees and reassign them. order to make something on saturday, they may have to do something on thursday. most likely to do it in a place where they're going to withdraw the airplane and people anyway or have to do that in order to make sure the equipment and the people are saved so the reality that you cannot just keep ongoing up to a point and drop a knife on it and say drop here, you got to plan ahead. that will involve some early cancellations. >> gordon, what about trying to

add capacity when we are showing all these people trying to get out. is that just too difficult when you see so much demand i imagine with increase revenues if you can do it do operations making it too difficult? >> well, if they got the extra airplanes and crews, i am sure the humanitarian thing to do is getting out of miami and put those in rescue flights if you will that's purely incremental anyway how many extra airplanes are around it any given time >> zero. [ laughter ] >> they don't make money sitting at the airplanes and sitting at the gates. they are working as hard as they can. >> i heard you laughing. >> well, zero, there are no extra airplanes laying around at any point in time. that's why on a typical day, if

airlines are heading out, you would have far fewer cancellations as you have. they are fully scheduled and a big airline may have six or seven stairs on any given day. those stairs will be consumed as mechani mechanicals occur. some flights are going to have to be cancelled. so the whole airline's business is a gigantic jigsaw and keeping track of the airplane. >> the big airlines really have only six or seven, eight planes

on the bench at any given time >> absolutely. >> but talk to me. in other words, if you wanted to fly in flights to miami or fort lauderdale or west palm, you would be flying them inroughly and almost empty, would you? >> right now if you were to do it because nobody wants to go there. that's the in bound flights. >> i am sorry, we got interrupted. president trump has now appeared in the white house lets go there. thank you for all being here it is my great honor to welcome the highest emir of kuwait to the white house. we share a strong and enduring commencement ship. the united states is proud to have contributed to liberation

of kuwait and for the friendship we have built together in the years since. today we reaffirm our commitment to our shared security interest and recognize kuwait's region. and for its partnership in the fight to destroy isis. during my trip to saudi arabia, i spoke with the leaders of more than 50 arabs and muslim nations about the need to confront our shared enemies, murder syria groups that threatened all civilized people every responsible nation must work together. i applaud kuwait for drawing the efforts and encourage all

nations in the region to do their fair share in defeating tho those. each nation in region must decide what kind of future they want for their own future, one of violence or one of peace. that also means confronting such as the regime who support terror groups and radical malicious cooperation between americans, kuwait have never been stronger, never ever the fbi and kuwait government are expanding our efforts and making progresses on promoting kuwaitians in the united states. we are entering a bilateral agreement with kuwait regarding

custom enforcement during the same period and same trip to saudi arabia which is my great honor representing our incredible country his highness asked me to expedite a $5 million agreement for the sale of american fa 18 super hornet fighting jets for kuwait and please to report that the state department have now authorized the transfer purchase which will not only strengthen our security but greatly benefit american workers kuwait's investment in america and profitable for kuwait people and they create many, many jobs in the american work force i am pleased to report this year that kuwait has taken delivery of ten american made boeing 777 airliners. their beauties, american workers build the best planes in the

world by far and we want it to be made available for those countries that want them kuwait have been a big buyer of commercial airliners made by boeing and others. our partnership extends beyond share and we are signing a memorandum to deepen the educational ties between the two countries and enhancing our english language and that's what we are going to be doing, we are enhancing the whole relationship through the use of english language and that's something very exciting for both of us i want to thank for leadership role and the role he's playing to help the nation and cooperation council following through. the pledges of ending terrorist financing came from every country and that magnificent

room on that magnificent day and we are addressing the ongoing gcc dispute we call an gcc egyptians e line to focus and to continue our joint effort to drive out and defeat terror we have great relationships with all of them right now and maybe better than we have ever had we'll be most success full with a united gcc tomorrow, secretary state tillerson a tillerson, by strengthening

communications with allies like kuwait, we send a strong message to both terrorist organizations and regional agresers that they cannot win they'll not win. they cannot win against us and our military is getting stronger and stronger. those that cherish and value human life will always prevail i want to thank his highness for joining us here today. the united states values close friendship with kuwait and its people we look forward to strengthen this bond further. we'll show the world of destruction is no match for the blessing of prosperity and peace, thank you very much i appreciate that.

>> my dear president, mr. president donald trump, your excellence and the highness, ladies and gentlemen, i am delighted and my delegation to be here today in washington. this great city in response to the invitation that his excellence and my friend and president trump, i would like the out set to reaffirm and once again of our condolences to the president and the people, the american people about the victims of harvey that hit texas and we are deeply affected by

the human losses and huge destruction in public facilities and property i pray to god almighty that he would make this becoming hurricane that's about to hit florida for it to be of goodness and not evil i wish and hope that the losses would not be harmful to the american people or would not cause further sadness and grief for those who'll be affected by

the hurricane. we reaffirm that we standby our friends in the u.s. in fighting and confronting this we have heard deep comprehensive discussions that reflected bilateral and relationships of all levels of the political economy and military and security levels in order to serve the mutual interests of our two country and peopies ande i am here would like to commit on the commitment that we have sent here on the part of the u.s. and security of the state of kuwait and within the frame work of this relations we remember with great

gratitude, the role that the u.s. plays when assumed of the leadership of the coalition that liberated my country from the invading iraqis and forces and restoring its freedom and this memory will remain forever ending in the minds of the kuwait people. we also highly value the strategic relations between our two countries. we have discussed the situation in the country, dispute between our brothers and the region and the international support that we have received for these efforts. we have also discussed our common efforts in corporation

with the community in fighting terrorism and ending the sources of funding for it and in this regard, i would like to comment prominent role that the united states plays in combatting terri terrorism especially the recent victories against terrorism and we have also discussed the situation in iraq and the catastrophic situation in syria and yemen and syria and libya, we affirm the need to end the fighting there through dialogue between the various disputing parties and we have affirmed the necessity of the security council to show that it is an responsibility of international peace and stability which

represents the -- the continuation of those struggles, it continues to be a threat with respect to the palestinians yes, we have praised the u.s. effort to move a peaceful process we affirm the need to join effor efforts, on the basis of a two state solution and in accord dance and the arab peace initiative once again, i think his excellence of the president for his kind invitation to us and for his kind hospitality and we look forward to meeting with his excellence, the president in the state of kuwait and enhancing our relations and building on

our strategic relationship in the service of the interest of both countries and people. thank you, mr. president >> all right, we'll take a r couple of questions. actual actually, we'll go to somebody else, go ahead john. >> cbs >> mr. president on the question of north korea, the country feels that the crisis is coming, lawmakers and lyndsey graham described the situation of inevitably of leading to war what i want to ask you is as president of the united states, would you tolerate a nuclearized north korea and with military action on the part of the united states would be one of the options necessary to achieve

that goal? >> military action would certainly be an option is it inevitable >> nothing is inevitable it would be great if something great could be worked at the day after an greagreement is reached, no work begins in north korea and continuation on nuclear. so i would prefer not going the route of the military but it is something certainly that could happen our military have never been stronger and we are in a position now and you know the new orders and you see like what i have seen in the numbers and it is been tens of billions of dollars more of more investment. each day new and beautiful equipment is delivered the best anywhere in world by far. hopefully, we are not going to use it on north korea.

if we do use it on north korea, it would be a sad day for north korea. do you have a question for emir? >> is it acceptable for you for north korea to be nuclearized but contained and deterred? >> no, i am not negotiating with you. maybe we'll have a chance. i don't put my negotiations on the table, unlike past administrations, i don't talk about it i can tell you north korea is behaving badly and its got to stop question for emir? >> you mentioned in a general sense the situation with qatar, how optimistic are you looking for it to resolve and what role would you like the united states to play in achieving >> we hope and we still have

hope -- especially our friends in the u.s. and our other friends are assisting us in resolving this issue i am optimistic that the solution will come in a near future, god's willing. >> question for the emir >> my question is for you mr. president, first >> kuwait agency, do you support the whole thing of conference

that would include all parties of kuwait. >> i appreciate and respect the remediation, i would be willing to be the mediator if i can help, we would have a great relationship i spoke with the king yesterday, a friend of mine and we spoke an unrelated subject, we had a long conversation [ inaudible we should have a deal working out quickly. it is something that's going to get solved fairly and easily kuwait is the leader of getting it out and we appreciate that very much. i believe that we'll solve it.

>> mr. emir, in light of the region and conditions in the region, has there been a sanction on the role of the u.s. commitment of the security of the state of kuwait, thank you >> thank you and you have heard now what the president have said about the relations between kuwait and the u.s this is not something new and don't forget that the united states have managed with other allies when kuwait was occupied and liberated. kuwait from iraq within a few

months and this is something that the kuwait people remember very well and everybody also we here thank the united states and the american people for that >> go ahead. >> thank you mr. president you dispatch aed a team to palestine and you are about to meet the leaders of the u.n. soon do we expect america's initiative to move the force forward. if i may, sir, the u.n. published a report of syri syria -- does that mean president assad is immuned from persecution and what is going to

stop the further use of chemical use? >> first of all, palestinians and israelis, we are discussing and working. it is the world's most complex and difficult deal. >> it is an event that never taken place. i think we have a chance of doing it and i think the palestinians would like to see it happen. i think israelis would like to see it happen. usually when you have two groups that would like to see something happen, good things can happen so, i think there is a chance that -- again, i say that a little reluctantly, we are going to give it our best and we have tremendous talent working on

that particular transaction as you know and david freeman and the ambassadors are very much involved we have a great group of people and we'll see what happens as far as the chemical weapons i find it hard to believe after what we did the last time that assad would do that again. i have not heard what you just said but i find that to be a little difficult to believe. nothing would change, we would be extremely upset if he was using chemical weapons as far as syria is concerned, we have little to do with syria and other than killing isis. what we do is we kill isis and, we have succeeded in that respect. we have done better than eight months of my presidency than the previous eight years against isis isis is rapidly disappearing as you know and that's because of our great military, the military has been absolutely incredible in terms of what they have done with isis in iraq and in syria

you have a question for the emir >> what do you see a break through in this dispute? do you see any indication to make us believe that this crisis will come to an end? >> the hope has not ended yet. i would like to affirm that qatar is ready to meet all the demands that were put the 13 demands that were presented, and is ready to sit at the table to negotiate and discuss with us

all everything between the parties. the gulf party as you know, we have 13 demands that were presented, and we know that not all of these 13 demands are acceptable but, if we were to sit down together and discuss these 13 demands and we have indeed accepted them and qatar have excepted them, we would be able to resolve all 13 demands. all issues and harm and disputes between the country of the region

>> thank you >> this all began because of the fact that there is been massive funding of terrorism by certain countries. and, what i want is i want to stop the funding of terrorism. we'll stop the funding of terrorism. if they don't stop the funding of terrorism, i don't want testimothem to come together i think they will. off question go ahead to the emir >> your highness we are talking about kuwait

remediation of all the meeting that's happening in kuwait which receives u.s. support. is there in reality something clear and a breakthrough that has been accomplished in this crisis, are we about to see at the beginning of a break through or your highness, or are the things issued are so complicated? >> we talked about a deep discussion about all this. what is the real issue and complicated issue of the heart of this? we would like to find some information, where is the problem here so that we can solve it. thank you. >> first of all, i would like to say there is no problem that can be resolved through. it is complicated.

when we meet around the table, and now we have affirmation from the country to which some demands were presented by its brotherly nation in the gulf regions. when we hear it is ready to discuss all the demands. we are not among those countries but we are gearing towards and we can guarantee that we are pressuring qatar because it is not in the interest of qatar to remaining outside of their flock. rather than it should join its

brothers now is the time that we have to forget all these differences, it is through we have -- we have descended into healthy issues and especially in the media, in spite of all of that, we were one of the most people to be most most affected by this situation. but, when that happens, and before this dispute came into existence, we met with our brothers in qatar and put an end in to the issue. this is now an issue that we met

in the presence of president trump and there was no one -- to say that there was a dispute between us but suddenly the dispute came into existence. got that we have stopped any military action, and these disputes as i said they are complicated, and we have seen the media campaign that is totally unacceptable to the people because the media coming out of this country is against those -- the people, not the rulers and for that reason we have received from qatar a letter in response to the letter i sent

them, and they are willing to sit down at the table and discuss all these demands which the other parties have put down, and we're talking begun 13 demands, and i'm certain that all these 13 demands, some of them, a great part of them will be resolved and the other part and perhaps we might not accept them the things that accept sovereignty we would not accept, but we're very hopeful we have great hope in our friends in the u.s. that they will assist them to restore things to where they used to be. >> well, that is a problem that we will get resolved and i'm very, very honored and happy to know that you have problems with the media also thank you, everybody thank you very much.

>> all right there's the president wrapping up his joint news conference with the emir of kuwait. predictably a lot of questions about the dispute between the gulf cooperation members and qatar over what is largely thought to be believe that country's funding of terror activities so anyhow, we will, meantime, go down to kayla tauschy with some breaking news regarding funding for hurricane relief and more. kayla. >> reporter: the senate voted 80 vote in favor of the three-pronged package combining aid for hurricane relief, for hurricane harvey, some $50.3 billion in an upsized amount as of today, and in addition to continuing to fund the government for throw months time and suspending the debt limit as well during that time frame. after this vote by the senate, it will now be sent back to the

house where we have seen some consternation among the house freedom caucus as well as the republican study committee where they are not huge fans of this deal, but we should note that the dill that was stands that was passed by the senate has the debt limit and government funding provisions going until december 8th that would assume a passage by tomorrow, by the end of this week, so we'll see what the house does, tyler, with this bill once they receive it. back to you. >> thanks very much. kayla tausche, john harwood and sayra fagen back with us. >> when they want to move, they move fast. mish mcconnell didn't like this deal and put it on the floor and only the most conservative republicans voted against if. >> any doubt that the house also do this? >> no, because -- no, because at the end of the day it is -- the worst thing for republicans

would be to blockade to hurricane victims it, and i think that there,will pass with democratic votes and a few republican votes, but it will ultimately pass. >> which speaks to why it was structured the way it was, right, john harwood? >> reporter: exactly democrats got a deal on their terms, and they are going to supply votes to pass it, and that's -- just as you said, that's exactly why it went down this way, and it's -- credit to senate majority leader mcconnell for putting it on the floor and moving it quickly. >> i thought it was interesting as i understood, kayla, to describe it. basically the debt developing was not raised it was suspended, john, which goes back to that idea that came out of the -- the sort of taped playback that we saw as part of the meeting yesterday, miss pelosi, mr. schumer, the other leader there discussed the idea of just not having a debt limit anymore. >> mm-hmm. well, again, this is something

that people serious about government as well as financial markets have advocated for some time there was an op-ed done a couple months by a former top aide to mitch mcconnell and president obama's former chief economic adviser, both saying what congress should do is get rid of the debt limit there's a lot of support in washington for doing that. it's just something that is not likely to happen unless president trump does it unilaterally because i think conservatives are going to resist giving up that lever. >> i would bet let's bring in eamon who was in the news conference. was there a break in protocol were there extra questions? i thought we would get a lot of questions about the, quote, chuck and nancy deal, and instead it was north korea and almost exclusively about what was going on with the qatar diplomatic crisis. >> yeah, michelle, in terms of the protocol you can say it's dip call we do what's called a two and two where each side gets two questions, right, and in this case the kuwaiti press was

offered the opportunity and kind of stood up and each asked one question, and that was kind of it it, and then the president of the united states barely offering the emir the opportunity to go to his press a little bit more there and some of them were reluctant to stand up and take the question because the emir was not calling on anybody in particular. this was all about resolution of disputes today you heard the president talking about the israeli/palestinian peace deal he thinks there's still a chance for that peace deal, but he also says that a little reluctantly this is a president who has been tempered a bit by experience and certainly lowering the threshold on what he's promising here diplomat lick. >> he lacked no issue -- never lacks for confidence if the kuwaiti emir can't solve the diplomatic qatar crisis, he says he could do it. >> and the president expressing some relief or just a sense of imaussment at the fact that the kuwaiti emir is complaining about the press also, something that the two leaders have very much in common. >> thank you very much eamon javers at the white house

and jan harwood thanks to you, too, and sara fagen, god to have you. don't movement a lot more "power lunch" right after this break.

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not rebalancing your portfolio. pursuing your passion, not reacting to market downturns. focused on what you love, not how your money will last through retirement. let us help you with those decisions, and get on with your life. we make it easier to plan for retirement with day one target date funds from prudential. look forward to your 401k plan. in the 45 seconds remaining to us, let's take a look at markets which have been pretty calm for most of the last two hours. the dow down a fifth of 1% as we see minor moves there. the big stock stories of the day in the dow have been, well, there you go there's s&p 500. that's a major move there and

the nasdaq is down a little bit. >> disney is off 5%. bob eiger was at a conference today and warned the numbers won't be as good as wall street expected for a number of reasons. >> and an apple report out of dow jones saying that it run into some production glitches on the new iphone that is hurting that stock as well thanks for watching "power lunch," everybody. "closing bell" starts right now. >> hi, everybody, and welcome to "closing bell. i'm kelly evans at the new york stock exchange. >> and i'm bill griffeth very busy day news-wise. >> yes. >> and president trump has discussed getting rid of the debt ceiling all together in the meeting he had with democratic leaders chuck schumer and nancy pelosi we'll pose the question we're all wondering about, whether the president will start turning to democrats to help get his agenda passed >> plus, hurrican irma is slamming puerto rico and now