hudson's bay has the foresight to bring the stores into 2017, in the digital age. [closing bell rings] >> you're the best in all of this. there is the closing bell. fed day decision. you have got to be here in the 3:00 to see how the markets close. david and melissa. it is yours. melissa: stocks sliding into the close. the dow ending down for the second straight day. the s&p and nasdaq in the red as well. i'm melissa francis, i'm david asman. so glad you could join us today. this is "after the bell." we got you covered in the market but first here is what else we have for you at this hour. the white house slamming the congressional budget office's report on the new health care plan arguing estimates how many people will be insured are as wrong now as they were for obamacare. president trump is right now talking with house speaker paul ryan and majority leader kevin carthy about a this. mewhile nservatives in the house are still hoing out for major changes in the plan. a member of the freedom caucus

telling us what it will take to get them on board. then we'll speak with a member of the committee who helped write the bill. are they willing to make a deal. and a powerful winter storm is paralyzing parts of the northeast shutting down major metropolitan areas. we're tracking the latest path of the storm from the weather center. melissa: the dow slumping for the second straight day, closing down 44 points. oil making a major role. nicole petallides at the new york stock exchange. but phil flynn at cme. the longest losing cheek in more than 14 month. what was the drag today? >> opec report on compliance and really a lot of confusion because there is two sources that report on opec. the primary sources, that's the people that are pumping the oil like saudi arabia, iraq, iran, all those people and the secondary sources and what really broke this market was the discrepancy between the primary

sources and the secretary sources. the primary sources said saudi arabia production actually rose. saudi said, hey, our production went up last month above 10 million barrels last. why did they say that when the is being dairy sources came out and said, wait a second, actually saudi arabian production fellas month that confusion about what that means, is that a signal by saudi arabia that done with the production cuts? that got the market worried. that is why we took a hit. back to you. david: good explanation, phil. thank you. nicole you have been watching stocks dive today. what happened. >> it was worst-performing sector of the day. energy names, marathon, rig, transocean, devon, chesapeake with down arrows. all 10 sectors was lower but energy was the worst of the bunch. there is nervousness in the market tomorrow. we have the fed so there is that wait and see mode. watching valeant that came under pressure.

that dropped 10%. bill ackman, said forget it, droned out and sold his big stake in valeant. you know what? lost close to $4 billion doing so by selling that stake after trying to rescue it for some time. we turn to the airlines. airlines came under pressure. don't forget we've seen thousands of cancellations, delays. that go into tomorrow. a look at united continental down 4%. southwest down 3%. s it last, more affordable car, $37,000 car. it will go into production in 2018. that is when it will be unveiled. they're lookinto pump out and producing one million cars per year. can tesla do it? it was up 11 bucks, almost 5% today on the idea they can do it. david: the idea. that stock has been on a tear. nicole, thank you. melissa: president trump

speaking by phone with house speaker paul ryan and house freedom caucus chair mark meadows about health care at this very minute. coming on the heels of a cbo analyst that said, analysis, pardon me, the number of americans with health insurance would drop by 24 million over the next decade. our own blake burman standing by at the white house with more details on this. blake. reporter: melissa, a phone call on this day from president trump to paul ryan, kevin mccarthy, the top two republicans on the hill dealing with the american health care act, the way forward to proceed for those three and republicans on the hill. at issue is still trying to convince many conservative republicans, members of the house freedom caucus to somehow bridge the gap and get them on their side. at the white house press briefing earlier this afternoon, sean spicer gave a rallying call for republican members to get behind the idea of he repealing and replacing obamacare.

this is it, if we don't get this through, the goal of repealing obamacare and instituting a system that will be patient-is heterred will be unbelievably difficult. this is the vehicle to do that. reporter: the phone call we expect discussion over what is called a manager's amendment, to break this down in its simpleest terms. after a bill comes out of committee, before it goes to the floor to work on it a little bit, possibly to quell some concerns of those republicans who are currently against the bill. as for democrats, they are against this entirely and continue to sit back and almost gloat in what appears to be a little bit of a fracture with the republican party. >> trump wants to call it ryan care. ryan want to call it trumpcare. it is classic abbott and costello, if it is so good why don't they want their names on it? reporter: melissa, maybe this

first bill is not in its final form because as president trump said there will be a big fat, beautiful negotiation as it appears. melissa: blake, i love it. thank you. david: here is republican congressman, mo brooks of alabama. he is also a member of the house freedom caucus. great to see you. >> my pleasure. david: interest there any specific things, please be as specific as possible, anything specifically that can be either taken out or put into the ryan plan that would make it acceptable to the freedom caucus? >> well, sure, first and foremost be honest with the american people. we campaigned on repealing obamacare. it is deceptive to suggest that what is being done is a repeal of obamacare. it would be honest to say it amends obamacare or it changes obamacare or repeals parts of obamacare but keeps the rest. i'm one of those who believes we ought to keep our word and our word to the american people was repeal obamacare and house leadership plan flatly does not do that in any way, shape or form. david: let me press you on

something a little less overarching than the repeal suggestion. what about simply the idea of allowing insurance to be traded over state lines and allowing individuals to get the same insurance options that companies get? >> well that's wonderful but that is not in this bill. that is one of the props in this bill. you ought to allow interstate competition amongst health insurancers to give consumers options they don't have, particularly in some of those places, some counties where you're down to one insurance carrier which you can buy your health insurance. that is not in this bill. david: that leads to the phase one, two, and three, that paul ryan talked about last week saying we first want to get out, this is ryan talking, get through reconciliation rather than putting it to a full vote. some people today are saying put it to a full vote. put all three phases in one plan, let democrats vote on it now.

if they want to reject it they will be stuck with a failed obamacare? >> there needs to be one vote on one bill. right now this phase one, two, and three is a camouflage. what you're really talking about in phases two and three are hail mary passes, last second plays of a football game, okay? very unusual, very low prospects of being able to complete that pass. occasionally it happens but it is a rarity. what happens in phase one, the bill that is your main bill in chief, that is the one that has the best chance of becoming law. so let's cut out the games. if it is phase one, phase two, phase three, combine it into one bill, see where we are. david: if you put it in one democrats clearly based on what they have been saying will not vote in favor of that now. if that happens, we've been told by industry specialists that obamacare is in a death spiral, people who are insured in this country will to through very rough times, are they not? >> well if obamacare is in fact

in a death spiral, and there are many people he who believe that it is, then as it gets closer to closer to that death, that will put more and more pressure on democrats to start being reasonable and admitting obamacare was a mistake in the first instance in 2009 and 2010 and working from there. david: we have to leave it at that. i have to ask you, sound like couple times donald trump is saying something like that, let it fails, if it fails the democrats are stuck with it. >> it is democrat panacea to health care. they ought to be responsible for what they passed without a single supporting vote from republican congressman or senator. congressman, thank you very much. >> thank you. david: we'll ask republican congressman buddy carter about the health care plan later in the hour. he is one who likes the ryan plan. can a deal be made? we'll ask him. melissa: so the excitement isn't going anywhere with small business optimism remaining near a 43-year high in february but let's not forget big buys either.

ceos are feeling the exact same way with optimism among america's top corporate executives hitting the highest level since 2009. which is catching the eye of president trump, tweeting, great optimism in america. results will be even better. joining me now, scott martin, kings views asset magement a fox news contributor and jason rotman, lido isle investors. jason they're optimistic about a change in regulation and possibly taxes being lowered. what does that mean if that doesn't happen though? >> for donald trump to say the results will even be better, what other choice does he have? he has to say that. that is why the markets have gone up so much because of hope and promise in a sense. the only major thing if these tax cuts really keep getting kicked down the road in a sense and they don't happen a month from now, now summertime, they still haven't happened i honestly melissa we'll not see any major correction even if that happens. melissa: really?

>> yeah, yeah. maybe we go down 2, 3%. but as far as like a 2008 scenario i don't see anything that could possibly cause that. i think it is very fundamentally strong economist. deregulation is happening in the financial sphere. possibly tax cuts happen in the next six month. this is a very strong market right now. melissa: scott, do you agree with that? people say the way the stocks are priced right now, that corporate tax cuts are priced into their price. >> yeah. i don't agree, melissa. i think the market is priced for perfection based on expectation. i think if we don't deliver, i think you see a significant pullback, to the tune of 15, 20%. the point is this, you led off wit, small business is america, that's job, that's growth. these are numbers we've been waiting to see since you noticed in 2009. if you have trump to back his promises by actual real data coming out now will help to support stocks in the future.

david: federal reserve set to meet tomorrow. all but expected to raise interest rates for the second time in three months but is this an indication they will move to raise rate even more than three times this year? scott, i'm for one, ready for rates to rise. i think we need to get back to normal. we've been in this extraordinary period now for about six or seven years. aren't you taking a little sigh of relief that rates might go up a little bit? >> you're ready, i'm ready, the market is ready. that is really a big sign of the times here. look how the markets reacted to the last couple interest rate hikes. we've been okay considering we'll possibly get one tomorrow. i'm not sure to to believe whether to believe forecasting, whether the fed or national weather service. they promised us four hikes, they knocked in one, in december last year. to say we'll get more rate hikes on top of this one will be totally dependent. david: jason that is true. they are chickens.

they hate to raise rates at all. they're not paul volcker-like. >> the situation from a trading standpoint at some point the fed will literally have to listen to the bond market. and they say the stock market is retail, the bond market is the real smart money. that is what the truism here. the bond market is saying the fed's not going to be one and done of the bond market is saying a major, major fundamental shift has happened. the bond bears are out. they're ready. we'll have multiple hikes this year. david: you're right though. the market and economy itself is ready to take it. guys, thank you very much, scott and jason the appreciate it. melissa: a powerful winter storm in part of the northeast. who is getting hit the hardest and or spared. the latest details from the weather center. david: a new strategy with fight against terrorism a big change to the policy by the obama administration you need he to

know about. melissa: budky carr responds to our interview with mo brooks. the headlight care plan facing new hurdle. it could fail if a few republicans vote with democrats vote no. >> the hippocratic oath is do no harm. they're doing harm not only if it passes which hopefully it will not, but fear it is instilling in people. anything worth pursuing hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird. as after a dvt blood clot,ital i sure had a lot to think about. what about the people i care about? ...including this little girl. and what if this happened again? i was given warfarin in the hospital, but wondered, was this the best treatment for me? so i asked my doctor.

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