looking at live pictures of the federal courthouse in ft. lauderdale, florida. on a split screen, laguardia airport. two major stories we are following. long time adviser of the

president roger stone is set to appear in moments, following his arrest this morning. and airports across the country experiencing major delays as the shutdown causes staffing shortages. good morning, welcome to "squawk alley" with morgan brennan joining us on the news line, john pistol, also deputy director of the fbi under gw bush and obama and former northwest ceo talking about the activity we have seen in the av space this morning thanks very much for the time. >> thank you >> john, how is this being read within tsa circles today >> john, can you hear me

all right. doug, i'm going to turn to you while they work out the audio issues with john you have seen your share of interesting events in the aviation industry. shutdowns don't normally lead to things like this >> this would be a first sort of goes back to the recollections of the air traffic control strike when president reagan fired all of the controllers and the industry had to recover from that >> how did that play out, how would you compare that situation to today if the partial shutdown continues on and we see more and more workers not come to work? >> well, obviously the industry was much smaller back then and that was a calamitous event for the industry and took a long

time to recover. here i think you've got two forces at play one is simply as more and more controllers call in sick, you just have a limit as to the number of operations that particularly congested airports can handle also, you're going to have to -- the faa has to make a judgment call because we are dealing with sort of the margins of safety, and as the air traffic controllers become more stressed out if you want to use that term because of financial pressures, needing to moonlight, take second jobs and the like, they'll have to make a judgment as to whether that margin of safety that's built into the system that we've all come to rely upon has produced the tremendous safety record that u.s. aviationhas is starting t fray and whether they need to

intervene and take action accordingly. >> doug, what might those actions look like if the faa begins to make those kinds of calls? >> well, you could see, for example, you know, limitations on the number of landings and takeoffs you've got controlled airports already, laguardia, d.c., reagan, you can see those numbers tightening where you could see operations being restricted which obviously would be bad news for travelers, for businesses, for the airlines themselves airline networks are very tightly wound entities, schedules, you know, network schedules are complex and you start pulling at the threads of

those and it really unravels i think if we ever got to that point, you know, it would be hard to see, hard pressed to see how that didn't bring about an end to this because the economic consequences i think would be material and i think it would basically force some resolution. >> and doug, speaking to complexity of the transportation networks of the airlines, could there be any kind of slack or way to work around some of the issues, either divert planes to other airports, i mean, what's available to them? >> look, airline scheduling departments and airline operations are extremely good and very competent at making adjustments. think what happens in the context of a snowstorm where the schedule completely unwinds for a period of time and the ability

to recover is very good. airlines have very sophisticated optimization software that let's them sort through millions of decisions that they have to make in that context. so if all of a sudden the word was out that you've got to across the board reduce flying operations by 20%, could they adjust to it, the answer is yes, but it wouldn't be pretty, and it would be painful on all sides, from customers to airports to suppliers to airline employees and it would be material bad news for the economy as a whole >> that's a number that clearly investors in airline stocks would quickly become familiar with if we had anything close to that john, let me turn to you

today is the first day we have heard reports about disruption and traffic flow, but we've had several days people have anecdotally talked about delays in screening which to you is the most important dynamic, the screening or the traffic >> well, obviously they go hand in hand. from a tsa perspective, it is a matter of security, and with faa, it is a matter of safety in terms of the flow of anywhere from 27,000 to 30,000 flights to take off from 450 commercial airports in the u.s. every day, so they really go hand in hand, and the unfortunate thing here is while all of the air traffic controllers and tsa employees are effected in this way, that is just being seen inch more frustrating terms, i traveled six or seven airports, indianapolis airport right now,

talking to tsa employees where i used to be the administrator, and the frustration level is rising with this now second paycheck that they've missed so it is getting to a tipping point as we're sitting in laguardia in terms of air traffic controllers, i think it goes hand in hand. we need to be very mindful, we, the american people, about what's going on and how this can be resolved in a meaningful and expeditious way so the business of the country and of the world as it comes into the country can get back on track. >> phil lebeau is with us as well phil, to what degree have airline ceos been saying this moment is coming, although the

ground stop has been lifted, and how does it game out from here from their perspective >> we have been hearing them say for some time don't do this. the longer this goes on, more stress it puts on the system, more likely you'll see this type of situation develop here are two ceos we talked to yesterday warning about this type of situation. start with gary kelly from southwest airlines >> the faa is not hiring replacement air traffic controllers or training them all those are considered nonessential functions and that's shutdown. that means that where the faa is already stressed in terms of staffing all of the centers around the country, now they'll be even more stressed so there is a risk that air traffic will have to be slowed down, because they will be safe. they do a phenomenal job managing our air space and they will be safe, but it may not be

very efficient and it certainly puts a lot of stress on the people there it is a crazy way to run our country. absolutely absurd. >> the longer it goes on, certainly you start to worry about people not being able to come to work and i don't think that's truly a safety issue, our business is so careful about being safe, but it leads to longer lines at the airports, less efficient travel through the air space, and it will have a huge impact on air travel before too long if indeed we can't figure it out. >> the white house is aware of the ground stop and a statement was issued by the white house earlier today essentially saying the president has been briefed about what is going on by the faa and that they're working with the faa, staying in close contact with the faa here's the statement the president has been briefed and we are monitoring the on-going delays at some airports we are in regular contact with officials at the department of transportation and the faa guys, a few minutes ago, a

statement from association of flight attendants saying this is exactly what people were warning about. the end of the statement, very political, very straightforward. it says do we have your attention now, leader mcconnell? all lawmakers? both of those with a question mark afterwards. open the government and then get back to the business of democracy to discuss whatever issues you so choose this shutdown must end immediately. our country's entire economy is on the line. the frustration level, you heard doug steenland talk about it, it is rising in the industry, whether it is flight attendants, pilots, air traffic controllers or tsa agents at the airports. all of them are completely worried you're going to have the type of situation develop where safety is compromised. nobody is expecting that to happen, but they're worried about it as a possibility. >> which to wrap it all up, john, begs the question. when you start to raise concerns

about safety and about something as widespread, wide used as air travel, we have been asking for weeks what is it going to take for a deal to get struck, what is going to be the tipping point, is this it? >> well, that's a good question that you know the answer to. they might see this as a possible point of opportunity to expose as a vulnerable point in terms of their safety and security and try to get on an explosive device or something like that on an aircraft the other concern is as passenger lines grow longer,

more tsa employees call in sick and people don't have to go through security, go to a terminal and takes action there. those are concerns while men and women of tsa, everyone you talk to, including this morning, it is professional, amazing, but a growing frustration of can't these people get this done and move on so we can do our jobs as we agreed to >> thank you guys. appreciate it very much. helping us understand how this fits into the overall shutdown story. we turn our attention to the arrest of roger stone. eamon javers has the latest on that good morning >> reporter: good morning again,

carl take a live look at the scene of what otherwise would be an ordinary day outside the federal courthouse in ft. lauderdale, florida. we are expecting roger stone to make an appearance after his arrest in the pre-dawn hours in florida, charged with counts of obstruction and lying to congress we do have a statement from jay sekulow, one of the president's attorneys on all this. he says the indictment does not allege russian collusion by roger stone or anyone else rather, the indictment focuses on alleged false statements mr. stone made to congress and that's an important point, carl in the indictment that was released this morning by the special counsel's office, 24 pages worth of material, no charges relating to underlying conduct of roger stone in terms of any communications he may have had with wikileaks, through an intermediary or directly. charges there relate to obstruction, false statements, witness tampering, all of which

would have happened after the presidential campaign. so the line you're hearing from the white house this morning, sarah sanders and others, this has nothing to do with the president, this is roger stone on his own the white house distancing the president from roger stone of course, that can be politically difficult to do, given that he was an important ally and outside adviser to the president throughout the 2016 presidential campaign and in fact for years before that these are two men that know each other very, very well. the question will be what communications, if any, did roger stone have with president trump about any of this, and was president trump otherwise aware of any of this communication during the campaign or subsequently, carl >> eamon javers, thank you >> you bet. john harwood is also with us from washington to wrap some of this up. john, every time we get some sort of development like this in the mueller investigation folks come out and say that's it, maybe we're getting closer and

closer to some sort of conclusion, it's all coming together, it's coming to a head. is there any reason to think that's the case today? >> well, i do think we are getting near the end of the investigation and i think we're getting closer in the investigation, according to what bob mueller laid out in this indictment to the president himself. eamon is correct, the white house is making distinction between what roger stone was charged with and things the president might have done. however, if you look at the indictment, you see that bob mueller lays out that there was two way communication between roger stone and senior trump campaign officials, with them seeking information and receiving information from roger stone. that gets closer to the idea of cooperative relationship between the trump campaign and wikileaks

via russian intelligence that were putting out the stolen material now, there's no charge of conspiracy there's no charge of collusion that's not really a legal concept, but this does tie closer the coordinated release of e-mails to the trump campaign, direct communication according to bob mueller >> the president tweeting now, john, i'll read it greatest witch hunt in the history of our country, no collusion. border coyotes, drug dealers and human traffickers are treated better who alerted cnn to be there. that's been one talking point today, given the video cnn was able to get about the arrest i guess that's the president's response to all of this so far, separate from the press secretary. >> that's his response but it's an empty one you talk about greatest wcitch hunt, look at the people that

have been charged and pled guilty to felony crimes. michael flynn, rick gates, paul manafort, campaign chairman. and now roger stone charged, as eamon indicated, roger stone has a very long relationship with donald trump roger stone has a 40 year relationship with paul manafort who was the campaign chairman. so all of these things are getting closer and closer to the president, and remember, paul manafort was present at the june 2016 meeting at trump tower with donald trump jr. and jared kushner at which russians came who had offered damaging material about hillary clinton at some point the sequence of events begins to look not like a coincidence. >> all right john harwood, thank you. when we return, intel shares

falling after a miss on revenue. weaker guidance for the current quarter and full year. interim ceo bob swan sits down with us on the other side of this break this break don't go anywhere. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. this round is on me. hey, can you spot me? come on in!

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a bit weaker than expected china has something to do with it joining us on a first on cnbc interview, intel interim ceo and cfo, bob swan. good morning >> how are you today >> i'm doing all right you guys reported last night macro uncertainty as increasing head wind. i don't think of you being reliant on government contracts but i wonder how much does the extended government shutdown play into the uncertainty you talk about overall >> first, jon, just to echo what we said last night, really strong quarter for us. 9% top line growth 18% eps growth was the best year in the 50 year history. it was a good year going into 2019, we flagged a

few macro concerns one, we look at the global gdp being relatively strong in '19 but a little weaker than in '18. then we have some geopolitical dynamics that we think are going to weigh on ultimate consumers and enterprise desires to buy, whether it is u.s./china trade, whether it is the u.s. government shutdown or brexit. as we enter 2019, we see a cloudy macro in geopolitical dynamics that weighed on our outlook for 2019, but at the same time i would say after coming off a record 2018, the guide for 2019 will be the best year in the company's 51 year history. >> and a lot of questions about that guide in particular and optimism around the second half of 2019. you're not the only one optimistic around that given all of that same geopolitical uncertainty that you mention, is that continuing

hunger for data you see from customers enough to give you confidence in the second half or is there more? >> so two dynamics for us. first, the biggest dynamic is thirst for data and implications both on the consumer and on the enterprise side, so we have seen absolutely no slowdown in growth and demand for work loads in our data center, customers that's very strong what we are seeing is the inventory levels after a wonderful 2018 year are going to be burned off as they normally are with the big cloud customers, so they will burn off during the course of the first quarter and we think into the first half, but expect that end demand to continue to be relatively strong. the other dynamic is the pc business is very stable for us we had a wonderful 2018. pc tam we expect to be

relatively flat in 2019, but we're a little supply constrained first half and expect to eliminate those constraints going into the second half. those two things in particular are what give us the confidence that even though we will be off to a little slow start, we'll see some recovery the second half of the year >> i want to ask you about profit margins and spending. you talked a good amount on the call about spending coming down in 2019. you guys have already cut the wearables business, sold off wind river what else can you cut if the second half isn't showing up as strongly as you expect >> first i would say over the last several years we have been much more effective and much more efficient in how we spend our money and more importantly where we spend our money the where is where it can drive exciting growth for the company in the near, medium, long term

that growth is what allowed us to deliver significant operating leverage during the course of 2017 and 2018 time frame what's really important for us as we continue to grow r&d, we talked before, jon, we think we have the biggest tam in our company's history to invest in r&d required to help us win in that big, expensive tam. along the way what that means is some things become less important as we are investing in r&d on opportunities we think have the biggest opportunity, and that will play out continuously through 2019 as well >> bob, i want to go back to the comments you made earlier about consumers and companies not spending as much, pulling back on spending, given the macro uncertainty out there. is that something you expect to be temporary or are you bracing

for it to be a longer term slowdown >> first hopefully what we'll see with constructive dialogues on the u.s., china front between the two governments, we would like to see some resolution there to get back to healthy and effective trade across border. secondly, ultimately we hope to see the u.s. government back to work and that cloud if you will will be eliminated and over time there will be similar clarity on the situation of brexit. so if you think about those three geopolitical things right now, our belief is that is going to impact consumers and or enterprises, desire and willingness to spend with clouds as an overhang we expect clouds to dissipate over time, get back to a healthy environment. right now, we're a little cautious in light of the clouds as we look to 2019 and set expectations for the year.

>> finally, you seem to indicate you feel like intel's board is getting close to a decision on the new ceo. are we going to have that new ceo by next quarter's report >> jon, i hope so, but in the meantime the board has been extremely diligent with a sense of urgency as you and i have talked before, this is the biggest, best open job in the world our input to the board is take the time necessary, get somebody great. meantime, we have a wonderful management team, 107,000 committed employees that are extremely focused on delivering for our customers, so we're going to be just fine in the interim, but i do expect and hope in the near term, i don't want to put a time frame on it, in the near term we'll have a wonderful new ceo to lead this wonderful company. >> i bet you would put a time frame on it if you could

bob swan, always appreciate hearing from you, coming with us after intel's earnings interim ceo and current cfo. bob swan thanks >> thanks very much. european markets are about to close seema mody has today's action. >> great interview european stocks moving to the up side, erasing declines from the week you have strong earnings results from eric son, outweighing broader concerns of whether we get a trade deal in march. german da germ germ german dax on pace for gains more signs show there's trouble aheadfor the economy the economic affairs ministry lowered full year growth forecast to 1%, down from the fall forecast for 1.8% growth, and survey out shows german

business sentiment deteriorated sharply in january, hitting the lowest level since february of 2016 it comes after deutsche bank ceo warned that they're delaying investments due to the continued trade tensions the question is how will the ecb respond, investors watching comments from ecb members, one day after they put rates on hold today, a hawkish executive board memory in forcing the idea that the ecb has yet to decide how to respond to the string of disappointing data that illustrates the broader slowdown in europe. right now, the euro holding ground by a half percent back to you. >> thank you very much what a busy day. dow up 218 we're getting some news on potential progress on shutdown talks. for that, kayla tausche. >> reporter: appears to be a game of political hot potato going on earlier today, speaker of the house nancy pelosi said she

postponed a press conference that house democrats had planned to unveil their plan because they were waiting on what the senate would do. karen james is outside leader mcconnell's office, senator lindsey graham said what senator mcconnell will do is wait on what the white house will decide now the ball is in the white house's court. we wait to see if the president and executive branch float a new plan of its own to reopen the government some senators are optimistic two senators, tom tillis and tim kaine saying there could be votes to reopen the government for a limited time that's just a suggestion now we wait for official news from the other side of pennsylvania avenue. back to you. >> and we will wait. i'm sure you will bring it to us. my interview with the air

force. what they're saying about the shutdown and impact on defense next you could say that. i love you. servicenow works for you.

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welcome back to "squawk alley. courtney reagan is live at laguardia airport with more on the ground stoppage we saw earlier in the day. >> reporter: good morning, morgan that brief ground stop was lifted, but there are residual delays, averaging around 90 minutes at laguardia, according

to flight aware for arrivals and departures air traffic controller shortages is what's causing the problem here there are more than normal absences as a result of the partial government shutdown, going into the 35th day. the second pay period where air traffic controllers won't be receiving a paycheck for the work they're doing according to the faa, there's a slight increase in sick leave at two facilities as a result, they're augmenting staffing, rerouting traffic, increasing spacing between aircrafts. the faa is advising travelers to check its website and check with your carriers before you come to the airport. various organizations have been warning of something like this happening. just a couple days ago, several organizations released a joint statement. moments ago, association of flight attendants president saying in part they're fatigued, worried, and distracted, but they won't risk our safety so the planes will stay on the ground this is anything but a sick out,

it is only about our safety and the air traffic controllers' absolute commitment to it. sarah sanders said the president has been briefed and they're monitoring delays. they're in regular contact with officials at the department of transportation and the faa behind us as you see, there's a tsa line back there. i would say it is not any longer than normal at laguardia you know this is one of the nation's busiest airports. we're going to continue monitoring what happens with delays and if they get worse back over to you >> big story today glad you're there. courtney reagan at laguardia thanks for that. before the break, look at shares of starbucks, hanging onto a nearly 4% gain after beating top and bottom lines 4% surge in comps. we'lta autl lkbo what kevin johnson told us earlier this johnson told us earlier this morning in a minute.

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welcome back to "squawk alley. this is video of two tankers making the trip from everett, washington to wichita, kansas. as we speak, as the airport officially takes delivery. this is valued at $44 billion. and after delays and $3.5 billion in extra costs for boeing, this moment has been a long time coming i spoke with the ceo and president of the defense space

and secretary business, leanne caret ahead of this milestone flight last night. >> well, as you all know, this is a multi mission aircraft, so it is more than just a tanker. it has the capability to avoid, to detect, to deter, and provides caring capability not only for cargo but passengers and patients this is an amazing game changing capability we're so delighted. >> there have been stipulations attached to delivery of the aircraft, technical difficulties that still need to be worked through with the air force talk us through what those are, what the time line would be to fix that >> this is a participate with the united states air force. we have continued to focus on making certain that they not only have the best technology available today but that they're positioned for game changing capability for the future to come as you know, this aircraft will be flying for decades. >> do you have potential international buyers lined up

for it >> as a matter of fact, we do. that's publicly available. japan is the first international customer, we're having conversations with other countries as well. >> and the defense department is funded through end of september now, but the partial government shutdown is effecting other agencies how is that impacting boeing and your business? >> well, to your point with the current government shutdown or partial government shutdown, we continued to provide information to make certain folks understand what it means to the business. we have been fortunate to date we have not seen many impacts but to your point as funding runs out for certain agencies, we will continue to assess that situation and we'll work with those customers appropriately. >> now, in terms of kc 46, it has been a watch item. boeing took a series of charges

tied to the program. i asked whether investors should expect to see more of those. she declined to comment as the aerospace giant prepares to report earnings next wednesday i did speak with the u.s. air force secretary heather wilson about the tanker program and more >> there's always technical issues when you take a new weapon system like this, and actually there are fewer technical issues than there are on most major prokurmcurements. boeing has a fixed contract they have been working to and agreed with the air force to fix items that we found that are problematic, so we're ready to take the next step which is operational test and evaluation and get these aircraft in the air. >> they're worried we hit peak spending in terms of the u.s. defense budget are they misinformed to think that >> no, the irony here is that as a percentage of gross domestic product, we're at historic lows

for what we are asking our country men to do to support our nation's defense, 3.5% of gdp we spend on defense, and i don't think the security of the country is really too much to ask. >> how will space fit into that, especially as everybody looks to find out more details about the space wars >> the air force in fiscal '19 budget, the president put forward a budget, it was supported by congress to reprogram about $5 billion in the air force space program and add 7 billion more to accelerate defendable space the air force in the united states is the best in the world in space, our adversaries know it, they have been developing capability to deny ussous of space in crisis or war the u.s. put together programs to make sure that doesn't happen and we're executing on those programs. >> how would you assess the geopolitical landscape right

now? >> i would say that the immediate term, russia and china are threats. russia is certainly a threat to its neighbors. i think in the long term china is innovating and growing faster than russia is i think long term, that's the threat we're most concerned about. in addition to meeting those threats, there's threat of rogue regimes, and the united states air force is vital to meet all those threats in protecting vital national interests >> guys, that's a view you heard me talk about before, particularly around china. this is important. when someone like commerce secretary wilbur ross says we're miles and miles from resolution, it shouldn't be too surprising, this is part of what he is referencing, inter connectedness between trade, development of next generation technology and national security, not just militarily, but also economically they're all involved here and

this is such a key part of the structural issues, structural reforms that we keep debating whether the u.s. and china can make some head way on. >> all right bottom line, boeing stock has been flat overall for the past year anything about delivery of this tanker, the underlying what it says about the company indicate that will change >> t >> stock is up 2% today. news is being greeted and helping lift shares ahead of results next week. it has been something of a lightning rod in terms of trade headlines and turmoil we have seen in the past year. had a big run in years ahead of that largely, investors are focused on the commercial part of the business which is growing gang busters and turning out cash defense business has been slower growing. kc 46 is a big program and as i mentioned, they've taken a number of charges tied to it i think investors are happy to see it is finally making its way

to the air force and potentially finally going to start making some money >> i think one of the first tweets we have seen from the cockpit of the kc on twitter now. if you love aviation, you have to love this story when we return, two former aerial ceos on the ground stoppage at laguardia this morning. how the shutdown is effecting airport employees next stay with us ♪ ♪

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we are following the shutdown related faa staff shortages hitting three airports in the northeast the flight attendants's union saying do we have your attention now, leader mcconnell? all lawmakers? open the government and then get back to the business of democracy to discuss whatever issue you so choose. the shutdown must end immediately, our country's entire economy is on the line. joining us, bob crandall, and former continental airline ceo, gordon bethune gentlemen, thank you for being with us. we talked to doug steenland earlier who argued the faa has to make a ruling on margin of safety here. do you agree >> yes, carl this whole thing is both asinine

and irresponsible. it makes no sense. of course there will be a call on the margin of safety. the reality is if we don't have full staffing, we can't do the full job if you're going to try to squeeze in >> worse case. this continues for an extended period what percentage of domestic capacity do you strip out? what could we be talking about at the end of the quarter? >> i want to agree 100% with bob. i believe the standard the system uses is they will not give that extra plane to that controller and over load him that's what's going to cause the

delays and shut downs that you see. they're not going to take on more than they can handle and they cannot handle the northeast traffic especially on a friday people are not coming to work and it will have a very big effe effect it will have a big effect on the economy and this quarter it's the craziest thing i've ever seen in my life >> bob, how does this change the way airlines plan in the future? it's the first time we have seen a shutdown, partial or otherwise anywhere near this long. does this change the way airlines lobby the way they assess risks? >> i assume -- i have to assume and i think you and everybody

else and all the airline executives in the world have to assume that rationality will return this is no way to run a government, a railroads or an airline. it shouldn't have any effect on planning because it should never happen again you can't do long term planning in any way, certainly in aviation unless you have the anticipation of stability. i have to believe that the adults in the room, the adults in the country will take back responsibility for our government, put it back together again, put it back in business and stay that way. >> gordon, one of the proposals that have been kicked around right now is continuing resolution that would reopen the government for a few more weeks so more negotiations could happen and i guess a longer term appropriations process could happen would that actually help the

situation that seems to be es a escalating here if we're going to be going back through the negotiations with more uncertainty. the people that don't ha >> absolutely. that would restore some liquidsty to the people who are out of a job anything that can use some mitigate the harm to the family and people and the companies like american airlines anything you can do to restore normalcy is a positive thing you have to get the adults in the room you have to restore the operation and end this ludicrous shutdown >> i can't imagine you spend too much time on social media but there has been some element of outrage regarding the airline traffic controllers. people suggesting to go back and take a page out of reagan's play

book i wonder what you make of that episodes and whether the changes in domestic capacity would make that possible now? >> i spend no time on social media. i'm unfamiliar with that dialogue i guess the point here is it seems to me that the air traffic controllers, as a group, have behaved with enormous responsibility vast bulk of them are going to work despite the fact that the government has violated the contract between them and it sef by not paying them by closing the government has expressed contempt to the very safety that those controllers are trying their best to maintain i can't imagine why anybody would hold anybody, except the president and the government,

responsible for this it is not the responsibility of the people to go to work without being paid the fact they are doing so entitles them to accolades the government willingness to shutdown the economy, to have the profound adverse impact that this will have on the economy just staggers the imagination. irresponsible is the only world i can think of >> we like the asinine part too which you'll find out if your ever on social media >> i'll tell you what, if the whole world wants to know that i think this is asinine, that's fine with me >> bob crandell, we knew we could count on you >> thanks. dow is p squawk alleyis back in less

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i don't know if thest the headlines that are behind this or what, mike? >> there's some headlines behind it i would remind people we were up a half a percent at the break of du dawn central bank dovishness has become a global theme. you have the shutdown cementing the feds patience. we have the ecb paralyzed as of yesterday. emerging markets did well yesterday and then china over night. the fact the market has not had a very expected pull back. it's been resilient throughout the week and not giving much back then, of course, this inkling that maybe some things are coming to a head we had a shutdown long enough to keep the feed patient and now maybe we can get the pay back on the other side all that filtering together. >> what will you be watching in the week ahead it will be jam packed with earnings we get a lot of industrial names

like caterpillar, facebook, boeing >> all of it right now we're looking at the glass half full. >> in addition to a trade talk and fed meetings, it will be jam packed let's get over to the half back at hq. stocks out of woods or about to begin a new sell off. it's the critical question for your money this is the halftime report. flights grounded by stocks soar the market shrugging off flight problems due to air traffic controller shortages because of the shutdown at several major airports the dow on pace for the fifth straight up week the s&p and nasdaq on the edge of keeping their streaks alive too. the halftime reporwi