tv Worldwide Exchange CNBC February 13, 2019 5:00am-6:00am EST
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>> here's your top five at 5:00. a big breakthrough maybe. xi jing ping plans to meet with secretary mnuchin and robert lightheizer this week. we will go live to china with more the shutdown showdown rolls on lawmakers urging the president to sign a deal that would keep the government open, but the president says he doesn't like it america's initial debt swirling to another record high, and we have got some scary stats on how big the numbers are getting. theresa may asking for more times, but the clock ticking towards another major brexit
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deadline designed to be addictive what former facebook president sean parker just said that is sure to get a lot of attention today. it is wednesday, february 13th, and word wooitd exchange begins right now. ♪ >> let's get back to the guard or to d.c. good morning welcome from wherever in the world you may be watching. i'm brian sullivan you are looking at a live shot of our nation's capital with the clock still ticking. yes, congress may have reached a deal, but remember, the president still needs to sign it to put it into effect. will he sign it? we're going to have much more on that coming up in a moment first, here's how your money and the global markets are setting up their day we are seeing stock futures in the green. dow futures, s&p, and nasdaq,
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they are up. not a lot. in the meantime, the bond market maying telling a different story. the benchmark ten-year yielding 2.68%. around the world a lot of green on the screen all across the board optimism may be about a trade deal optimism about the shutdown being averted. you saw japan rise 1.3%. shanghai comp up as well overseas and europe. kind of a similar story as well. are you spotting a trend again, not big, but we're not seeing losses either. >> you got the d.c. shutdown threat still looming it is not over nothing is done until the
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president signs it number two, you got china. high level trade talks getting underway in beijing. third, brexit. the clock ticking on theresa may trying to get some kind of a deal passed to avoid a no deal or hard brexit we have, as always, full team coverage of all these risks. let's kick it off with tracie potts who has more >> good morning, everyone. president trump clearly the wild card here. democrats and republicans have not only signed off on this deal, but they're urging the president to support it, as one republican said, go ahead and take the win even though -- some barrier along some small portion of the border with mexico not that big long concrete wall that the president wanted and promised since the campaign. his reaction to all of this?
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president trump says he is unimpressed. he doesn't like the deal he is not happy. he is not doing the trick. he tweeted overnight congratulating republicans who who are working with what he called the radical left. he is now also saying finish the wall in other words, that parts of the wall are already being built. perhaps sliding into a reason for signing off on this and avoiding a shutdown in two days. he has not said that he will sign it. that's why he remains the wild card this morning with both sides pushing for him to sign it, but conservatives concerned that it doesn't go far enough. they're urging him to hold out for more poen for a wall >> tracie potts in d.c., thank you very much. now let's turn to issue number two, china, where american representatives are due to begin high level negotiations tomorrow, and there are some reports out today that china's president xi jing ping will meet with the u.s. delegation this week let's get right now on the story to eunice who is live in
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beijing. >> thanks, brian the south china morning post, a hong kong newspaper, it quoting sources saying that president xi jing ping plans to meet with mnuchin and heizer mnuchin and lightheizer are here and plan to meet with the chinese vice premier on thursday and friday the "wall street journal" is reporting that the focus of the conversations will likely be on trying to draft a framework for a deal that president trump and president xi can both sign at a later date it's still unclear, though, whether or not the two sides will be able to narrow their differences. today here the stock markets rallied after it was suggested by president trump that there could be an extension of the march 1st deadline the chinese would very likely welcome an extension because in the past trump administration officials have said that that march 1st deadline is a hard deadline, and so, brian, for the chinese this means that they would be able to keep talking,
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but american business people would probably -- at least a lot of them, would probably say they would be able to keep talking without taking a whole lot of action >> is that a surprise president xi meeting with the group? i know, listen, it's lightheizer and mnuchin and not trump. would that be a surprise if president xi would show up and engage in the negotiations >> it would be a surprise in that president xi would then be directly associating himself with the outcome of these trade talks. the vice premier is the one that has been associated with this trade conversation and the relationship between the u.s. and china and any potential fall-out if the trade talks don't actually go very well. in that way it would be a surprise, but at the same time i think it could also be seen as tit for tat treatment in that president trump did actually
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meet with the vice premier when he was in washington >> eunice live from beijing. thank you very much. let's complete our worldwide journey here and go to the u.k theresa may and her supporters are scrambling to get any deal done before the march 29th brexit deadline hit. now more on this story wilham >> good morning, brian what theresa may said yesterday is she once again needs more time to try and ring concessions potentially out of the european perspective. she's looking to try and find a replacement for this thorny issue known as the irish sels so far that's not going to happen she said give me a couple of more weeks before we have a significant vote on this issue her opponent here, jeremy corbin, saying that's not good enough you've repeatedly asked for more time we're getting closer and closer to that march 29 no deal brexit
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deadline that will put more pressure on theresa may. one other voice we've heard this morning is from leo, the irish prime minister he has been talking in dublin in the last mauer or so saying he does expect to strike a brexit deal, although at this stage not clear how that's going to happen >> thank you very much let's now break down how you can navigate all these global risks and these various market storylines between the shutdown, the trade talks, and the brexit. joining us is boris schlossberg. if you had to pick -- >> good morning. >> good morning. with if you had to pick one of those three things that should be the most important thing to our investing audience right now, which would it be in. >> i think china's story is the most important let's just sort of assume that trump does sign the bill i think the shutdown is just not
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going to happen. it's a huge political risk really for very little payoff to him. he will be him and haw the china story is pretty positive i think president xi, there's a tremendous amount of pressure on the chinese right now to do some kiefr a deal clearly asia has fallen off the cliff as far as economic data goes we're watching south korea, the canary in the coal mine. they've had some very poor results. as a matter of fact, overnight their unemployment rate spiked to a nine-year high. i think the president now on china to negotiate and make a deal is very strong. that should be a mildly positive move for the markets >> mildly positive >> yeah, because i think so much of it is already factored in in some ways. we've had a huge rally already, and then once -- i wouldn't be surprised that once we sign a deal, the markethas a knee jer reaction and goes, uh. the much bigger story is organic
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demand and underlying growth that number has been falling rapidly over the last couple of months if it can stabilize, and then push itself back up that should be really positive for stocks if we start to just see very little appreciation or very little improvement in those numbers, i think it's very hard to match imagine stocks going up from here. >> if you are right, and that's priced in, what if we don't get a eal? then what? >> yes, that's very negative i think it's going to be a huge amount of risk weco easily return to testing the lows in december no problem if you look at the -- >> do you think we could fall 15%? >> yes, absolutely you know, the markets at this point -- the big rally in the markets right now, i think it's pretty obvious, has been a result of easy money
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the fed had basically just completed taking its foot off the pedal. if we have a negative shock to the system where there's no trade deal, and you see asia really start to decelerate, and that is going to make its way up over to us, already earnings growth numbers have really come down from double digits to single digits. it's going to be difficult to see what monetary policymakers do unless they go back to the cutting rates. as they keep pumping it up i think the market at this point is really anticipating that some sort of a deal is going to be done, and so negative scenario could be a big shock to the system >> lel give you a third scenario i know it's 5-11 in the morning. let's say we get no deal they can't get a trade deal done doesn't have it. to your point, very negative the fed takes notice kwo a no trade deal scenario make the fed even more dovish to the point where we possibly get great cuts this year?
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>> it's not unimaginable because the fed is very sensitive to what's going on. as a matter of fact, you know, overnight they talked about the idea that they were supposed to just completely truncate the whole balance sheet. they were going to keep all the roll-off coming on now they're even reconsidering that the fed is super sensitive, trying to keep the monetary policy as easy as possible they are trying not to add salt to the wound at this point yes, the fed is going to remain very much in easy mode until it sees actual clear signs of economic resurgence back across the world. >> boris, always a pleasure, my friend see you soon zpliencht we're getting just getting started. up next, designed to be addictive. that's what former facebook president sean parker says about the social network much more on his shocking
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comments coming up the crisis in venezuela making its way one of the world's biggest oil producing countries. zblierngts later, whip saw action in shares of activision blizzard after the latest earnings report we're back in less than a fortnite ♪ ♪ ♪ ♪ what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work. [kno♪king]
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welcome back 6:15 p.m beautiful view there good morning or good evening if are you in hong kong here's how your money investments are setting up their day. we're coming off the best day of the month in -- i mean, it's early in february, but still, good day for the stock market yesterday with a big rally for the dow. the dow now up about 10% on the year the nasdaq and the fang stocks, they've done certainly even better i don't know who is going off the top of the head here if there's been a day where the two have gone in different directions this year oil down markets down oil up markets up that's certainly been the trend. the international energy agency is out with its monthly report the group says that global supply will swamp demand this year despite opec's production cuts and u.s. sanctions on
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venezuela and iran light get to jumana who has more on the iea number. what stuck out to you? >> yes yeah good morning, brian. i want to break it down, the main points of this report quite interesting. let's start with global demand outlook. this bucks the trend and it will be heard from opec yesterday who actually cut their demand forecast for this year, but perhaps the more relevant thing and what everyone has been focussing on is what has happened on the supply side of things the iea have now officially said that the global supply for the month of january dropped by 1.4 million barrels a day. partly because of the opec cuts, and also partly on back of the alberta cuts as well their production is down by almost one million barrels a day. here, they're talking about output being at a four-year low. compliance being at 86% amongst the opec members
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that is one thing to watch out for. however, all of that has been superceded by the non-opec supply forecast. it's a big part of that that's coming from the united states. overall the outlook is pointing to further supply hitting the markets. we are seeing an uptick in oil, though perhaps because they haven't cut their demand outlook for this year interesting, really, you want to keep an eye on the non-opec supply as ever brian, you are an expert at this you know more than me. the u.s. production is something that investors want to keep a close eye on as well >> i think i'm mildly well informed thank you very much. let's now bring in senior editor at s&p global plats. are you surprised that we're
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seeing oil prices up a percent given the iea gtsd, man, there may be too much oil in the market this year >> good morning. i think right now, for example, you know, we are the market is slowly sort of tightening, shall we say, to some extent you know, we have the sanctions on venezuela we have sanctions on iran. if look at the markets, they're not oversupplied as they were a few monthsago. on one level i think maybe the market is not so sure that it's going to be extremely oversupplied like some of the forecasts of the iea >> there's another key thing in this report, and i don't want to get too in the weeds or in the oil, if you will, which is the kind of oil that's not going to be available their production continues to drop it's probably going to go below a million barrels a day very
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soon if it's not there already their oil, very thick, sludgy. used a lot of diesel fuel in thea it's. is a bigger worry maybe not how much total oil there is, but how much of each kind there is and where it goes. >> most definitely one of the things that the iea pointed out, and this has been on the market for quite a while. it was good to see this issue highlighted. the crude quality and not quantity will be an issue moving forward. the u.s., as we know, you know, produces mainly light sweet screwed while tightening of supplies, iran, even the opec cuts, even alberta and capped, production cuts there, and venezuela. all of them produced what you would call sort of heavy sour crude. in a way you have a bit of a divergence on the oil markets. the light sweet crude is oversupplied, and it's quite tight on the heavy market. this actually has an implication for the refiners because the refiners have been mainly used to a very sort of heavy barrel
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>> what do you think is the biggest risk to the oil market this year? >> we'll have to wait and watch and how things pan out there whether there will be an extension. whether the oil in venezuela cannot sell to the u.s will that definitely go to india and china? i think the supply -- the supply demand risk is still there this, interestingly, is higher than what they had last year last year they said oil demand growth was 1.3 million barrels per day.
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>> appreciate your insight see you soon >> thank you finality may be coming to the venezuela citgo story. u.s. recognized president juan guiado will reportedly appoint six new executives to citgo's board maybe as early as today. this comes as he tries to secure control of the company to help finance his interim government a new board has been expected for weeks and it has not happened if one does come, it would effectively invalidate the current company, which is still being run by venezuela's pervasa and the maduro regime. well, staying with venezuela, and we've got an update to a story that we have been following very closely for you here on worldwide exchange
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that is following the venezuelan oil money. remember, last week we showed you how there were seven u.s. bound crude oil tankers filled with venezuelan oil all stuck in limbo because of the sanctions well, now there are six. yesterday one of the ships was able to unload oil in galveston, texas. we're still trying to figure out who the oil was for, and where the money from it went we are now keeping an eye on the remaining six tankers. >> shares of groupon are syncing this morning as thousands say no deal to its most recent quarter. plus, off the lows, but still
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announcing it will cut about 800 jobs however, shares are higher because earnings beat by a penny and the company announced a new $1 perfect 5 billion buy back program. that stock up 3% trip aid viesor on the news, and it is down on the morning. fourth quarter adjusted profits missing most forecasts, all revenue did beat by a bit. hotel revenue dropped -- non-hotel revenue and that includes things like restaurants and experiences jumped 38% a relatively new segment for trip advisor the company reporting its 12th straight quarterly decline it's also falling short of most analyst estimates. groupon blaming lower customer traffic. that stock actually down just under 10% right now. straight ahead, the debt threat u.s. national debt swelling to another all-time high. that got us thinking, how many credit cards are in your wallet right now? we put up a poll, and you can go to @sullycnbc and still vote.
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do you have one to two, three to four, five, plus, or none because you're a boss? plus, jack dorsey dropping a bombshell during a conversation with read code's sarah swisher what he said that egts making headlines. designed to be addictive shocking comments from facebook's former president about how the social network reels you in we're going to hear more are tus.dwe chgen worlidexan rern now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. you should be mad at leaf blowers.
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are in beijing reports early tlorng say chinese president xi jing ping could meet with the southwest trade delegation on friday twitter ceo jack dorsey says he recognizes there's a link between activity on his social network and real life physical danger to people in a live tweet conversation with readcode's sarah swisher, the platform is working to reduce harassment on the surface saying the physical safety of users is a top priority. brian, back to you >> those comments are sure to get a lot of attention today thank you very much. let's now get a check on the morning's other top headlines outside of money and business, including a very sad story from new york city. francisriviera in new york now with that. francis. >> yeah, there is tragedy in new york city, brian the nypd have confirmed that
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detective brian simeonson was shot and killed while responding to reports of a robbery in queens the police commissioner says officers fired at main who emerged from the back of a t-mobile store pointing what appeared tb a gun and the detective was shot as the officers retreated the death appears to be a tragi case of friendly fire. he the suspect was also shot and is in stable condition this morning. >> wire fox terrier from brazil -- wire fox terriers have won 15 times at westminster, far morning any other breed. brian, those are your headlines on this wednesday morning. >> i think the dog won because
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it has a sweet beard it has a jack dwroirs-like kind of sweet hipster beard >> that could do it. >> francis, thank you very much. have a great day it could be another good day for the markets. we're coming off our best day in february in what has been a good start to 2019. dow futures up 41 poingts right now. listen, we know that there has been a lot going on all around the world, and we are worldwide exkmang, so we will focus on all the globalissues we're going to give what you is your investor checklist. right? all the major macrothemes. there's a lot more going on. earnings and such. this is the macrothemes that you need to pay attention to when they are done, when things get settled, we will literally check these off for you. you can have like your run dow and say, hey, how far are we on the worldwide exchange checklist? right now we're nowhere we have five open boxes.
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the government shutdown. i know congress has a dole, folks, but until the president signs that form, remember, i'm just a bill, and i'm sitting here on capitol hill we face the possibility of a shutdown over the debt limit we shut down for the debt limit, and the market went haywire. debt limit may be a bigger deal than i guess a run of the mill government shutdown at this point. obviously, trade talks in china going on right now that's a huge box that everybody hopes will be checked. in fact, that middle box might be the most important thing on the worldwide exchange checklist. brexit, possibility of a vote. we got a vote pushed off for yesterday. theresa may scrambling to hammer out a deal, and, of course, earnings i think they were very close to checking off this box because we're not done with earnings season we've come far enough that at least we have some insight the market was a little spooked heading into it. enough numbers have come out, i
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think, that we can figure out where things are headed. let's ask a guy what he thinks michael tyler, chief investment officer at eastern bank wealth management joining us now. michael, welcome you're the first guest with our new investor checklist here on worldwide exchange let's go to the last point first. do you believe that we have seen enough corporate earnings that you feel comfortable about the way corporate america is doing right now? >> i think that the current results are fine, actually the problem is what do we expect for the future we're looking at a slowdown in a lot of parts of the world that do affect american companies as well a lot of people are now saying earnings are actually going to go negative or negative earnings growth in the first quarter this year the check box is finished in the sense that, yeah, we're pretty well through first quarter earnings season. i think that's still a real question mark as to just how strong the earnings quality will
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be coming into the new year. >> there almost was i don't want to say the p word, panic, but there was heading into earnings season given december and given some of the analyst revisions a lot of fear around how these numbers and the guidance might look do you think that it doesn't seem like the worst has come to pass >> no, and, in fact, the stock market has been remarkably resilient gin how rapidly earnings are going down. they're not coming down as hard or as fast as they were worried back in december plus, right now you have all the good news. you mentioned those checklist items. well, most of them are looking pretty good. if congress has a deal, the president would probably be well advised to sign it, and if he needs to do something else, he can figure out what else to do, but at least there won't be a shutdown the economic numbers are looking very strong.
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the jolt number yesterday was fantastic. you look at the fed being very, very dovish right now. all of these items and certainly the china negotiations are looking positive a lot of the things that people panicked about in december don't look so panic why i right now. they look pretty good right now. >> let's go back and show the wall again we have five issues in our checklist, and it is possible that all five of those things could be checked off if we get some kind of a brexit deal, the deadline is march 29th, something is going to happen the debt limit, also in march. something is going to happen by the end of the quarter if that happens, what happens to the market >> well, by that point you are
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already into first quarter earnings reporting, and people will want to see whether we came through the first quarter looking good did the shutdown that we already went through have any meaningful effect i think at that point there won't be a whole lot of macroconcerns, and if anything, if all the things that you have described worked out very well, and if the stock market is up another 5% or 10%, my goodness, the fed is going to say, wow, we're overheating. they might actually start raising rates. i don't want investors to get too happy. the earnings box will never be checked. the first quarter keeps it coming michael tyler, you have a great day. we appreciate it thank you very much. there is the milkin institute summit happening in
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abu dhabi. there was some shocking comments that came out of a former top executive at facebook when interviewed by our very own hadley gamble on stage hadley, you know, i was watching the screen i was watching up there with sean parker. you asked him a question, and he kind of poo-poo'ed it at first, and then he said we designed facebook to be addictive those comments were pretty shocking >> we see a lot of interesting people passing through dubai and abu dhabi. sean parker on stage with me earlier. as you said, some pretty shocking comments, and he seemed to at least be playing it to the audience as if this is something we all should know that our data was being collected and reviewed listen to what he had to say snoo you are opting in you are choosing to disclose
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your private information hopefully, you know, the public dialogue will have -- will play a role here because if the public dialogue doesn't change these companies' behavior, then to your point, it becomes a deposit issue. >> what he is saying is you are choosing to make that data essentially public if we decide to make it public that's interesting, don't you think? i don't know about you, but until a couple of years ago i wasn't aware that i was giving away all of my personal information on facebook and anything else to social media. i think it's really a question of awareness, a, and, b, the fact that he was a bit blase about it when i asked whether or not the government shut get involved there oh, no, but yeah, but maybe. at the end he said if the opinions don't change the corporates, then maybe they should be. >> i think everybody knows that social media is addictive in many ways. we're certainly addicted it, but we're in the media it's kind of our job
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it was interesting to hear him say we gave you that shot of dopamine he made my eyes open up when he said, yeah, we all know amazon's alexa is always listening, and they've got so much data storage they could possibly record and save every conversation everybody has ever had in their home >> that's exactly right, brian when he pivoted there, he tossed it off to amazon, and he tossed it top of alexa because, obviously, he didn't really want to seemingly say anything about the company he co-founded, which was facebook, and facebook was the one that we all learned about first was the one collecting all our data and was po tshlly use it in any way that they see fit, and i think it was really interesting to play to the audience here. we're sitting here in a group of ceos coming from the united states, coming from europe as well we have secure methods of keeping data
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there is freejd of the press and to express any views frankly, a lot of questions about speaking to this audience in quite that way. brian. >> i this i those soundbytes and that conversation you had is going to get a lotmore attention today, and, by the way, hadley, i hope your ear feels better thank you. >> thanks. breaking news. thank you, hadley. coming up, why one expert says expect major changes when it comes to filing your taxes this season. especially if you are expecting a big refund check you're going to want to hear what he has to say what one money manager says is the most pressing matter facing you and your money right now stick around for your heart...
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i that's the retirement plan.e, with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org. all right. become back. let's talk now about one of your least favorite but most important topics that is taxes. cnbc has partnered with acorns, the saving and envesting app part of a financial wellness and education initiative that we have called invest in you, ready, set, grow with tax day just two months away, big changes are coming especially for all of us in the northeast. joining us now is joseph perry, national tax and business leader at markham, and i just did my tacks. i have not filed yet
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i'm waiting on one form, but i kind of have a figure about where things are going to stand, and things changed, okay, in the sullivan household sounds like things are going to change in a lot of households. especially in high state and local property tax states. >> absolutely. this year many clients of ours, we've prepared projections during the year to kind of take out the surprise, but the state and local deduction is a major deduction in high tax states like new york, new jersey, california, and many people are surprised by the effects as you look at the incomes -- >> unhappily surprised, right? they're not surprised, like, oh, yes, i found a dollar. they're unhappily surprised. >> absolutely. to the extent that you are an alternative minimum tax, you might have been surprised pleasantly, but that doesn't happen too often most people are going it pay more stacks because of a lack of state tax deduction. it's solved. we saw solved, but it's also real estate taxes.
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there's viewers of ours here maybe in tennessee that don't have -- florida, they have no state income tax what is the salt thing you are speaking of? it's the state and local tax deduction, which you used tb able to deduct off your federal form now it's capped at i believe, $10,000. that sounds like a lot, but, believe me, there are shacks in new jersey that have $20,000 in profit tax or westchester county because that's how we fund our initiatives. however, we also did get a little more money out of a reduced withholding rate for the year >> that's right. >> how does it balance out, joseph >>le with, it reallydepends. i asked many people do you realize what your increase was during the year? >> do they >> many people forget when it comes time for the refund because they get less of a refund, so they're surprised.
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>> for families and viewers that are used to -- let's say they get a $3,000 refund almost year in and year out. i'm just throwing the flb out there. they're probably not going to get -- >> they probably get less. that's a surprise. there's a difference between getting less money back and getting a bill >> well, we have, and that makes a difference, and that's why projecting getting that out in the beginning of the year is important, but we see people's surprise they didn't have to pay taxes, which is problematic if you didn't expect it >> is there a solution for next year maybe increase your withholding, you know, do an advanced payment on your taxes? what's the strategy to help mitigate that negative surprise? >> i think it's very important to speak to your accountant this
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year understand what was the change and what were the points to effect then the action plan that you could take it really adjust your withholding accordingly. therefore, plan for if you want a refund, you could actually project one at the end of the year >> all right joseph perry, markup real world advice as part of our initiative and deal with acorns a real pleasure. thank you very much. >> thank you for having me >> on deck, pushing higher tuts u futures in the green again investors gearing up for a big trading day ahead. we're going to break down all the big things that need to be on your radar. plus, it's your last chance to vote in our twitter poll today we asked how many credit cards you have what's in your wallet? the vote, the results may 'll vehawh wou weha tt ene come back stick around (danny) let me get this straight.
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without you, we wouldn't have electricity. our hobby would be going to bed early. (vo) you earned it, we're here to make sure you get it. (danny) it's time to get yours! (vo) quickbooks. backing you. >> futures higher again on optimism we are going to get a border wall deal and we will avert a government shutdown. congress has a deal, but,
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remember, the president has to sign it, and he has not done so yet. let's bring in victoria fernandez, chief market strategist at cross mark global investments. victoria, great to see you yesterday the markets were like, there is a deal. everything is fine. zmo i think you'll see things like that happen more quickly. i think the important component of this is not just that we avoid the shutdown, but it really sets the playbook for the debt ceiling later in the year that's why i think it's such an important issue. we need to be able to see that
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congress can work together, that they can work with the president in order to avoid something larger later down the road in august when we have to deal with the debt ceiling >> see, everything was going so well, victoria, and then you had to throw in the debt ceiling. >> how optimistic are you that we're going to get something done there >> that's my concern the china trade war is a larger issue for the markets, i think, in the long run. that's why the shutdown is so important. it does set up how they're going to deal with the debt ceiling. it leads to a lot of concern whether we're going to have a true shutdown or pashl shutdown. it's more uncertainty, and we know the last thing the markets need now is more uncertificate
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it featured all these big unknowns, but the good news is by the end of the first quarter, most of the unnrns should be known. are you optimistic >> i am. >> i do think that we will avoid a shutdown or maybe we just have a very short period of time. maybe one or two days. i think that both sides can claim a victory here you can have the democrats say we didn't give the president everything he wanted we have the president saying, look, they weren't going to give me any money for a border wall or a fence, and they did.
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>> so many shutdowns so little time victoria, we'll see you again on worldwide exchange >> thanks, brian time for your wednesday rbi. today it's some random but interesting stats around debt. why not? is new data from the new york federal reserve shows that a record 7 million americans are at least 90 days behind on their car payments context? that's more than a million people that were behind on their payments than during the financial crisis something else, according to deutsche bank. there are now 370 million credit card accounts in the united states there are many households, millions, who are unable to get credit cards that means many of your households have four, five, or even six credit cards. wow. we asked you, on twitter, how many credit cards do you have? 41% of you said one to two i think you're fibbing 32%, three to four 20% of you have more than five
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7% of you said none, i am a boss debt, it's big, random, and hopefully interesting. "squawk box" is next numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.
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trump softened his stance on that march tariff deadline we'll go live to beijing shutdown showdown. president trump says he is unhappy with the border security deal, but he is going to consider it. whipsaw action in activision the video game maker saw a big swing after hours. we'll show you why it's wednesday, february 13th, 2019 "squawk box" begins right now.
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zbliefrmt live from new york where business never sleeps. this is "squawk box. >> really? we are live from the nasdaq market site in times square. let's take a look at the up by 5.5. the nasdaq up by 25, and, of course, this comes after the gains from yesterday when the dow was up by 372 poins for a gain of 1.5% the s&p was up by 1.3% almost, and, by the way, the s&p actually closing above its 200 day average. 200 moving day average for the first time since the december 3rd of last year you also
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