weatherman umbrella. >> thanks for being here and good news if you're going to florida. thank you so much for joining us today. i'm dana perino. here's shep. >> shepard: it's noon on the west coast. 3:00 on capitol hill where lawmakers are trying to keep the government from shutting down again. senators say they have an agreement. but then there's the house. the top democrat in the house of representatives says there's no deal without a promise to protect the dreamers. so what to do? plus, the memos. days after a republican document blasted the russian investigation, the democrats are trying to give their side, they say. now president trump is talking to his staffers and deciding whether to let the democrat version go public. nations like russia, france and north korea hold regular military parades. washington hasn't seen one since 91. president trump says it's time to roll out the tanks. i want a parade!

let's get to it. >> good wednesday afternoon from the deck. senate leaders say they now have a deal. a deal to prevent another government showdown tomorrow night. but the top democrat in the house of representatives is threatening to derail it. nancy pelosi has been speaking nonstop on the house floor for the past five hours. the house minority leader says that democrats will not approve a spending bill unless the republican house speaker, paul ryan, promises a vote to protect the dreamers. they are, of course, the hundreds of thousands of immigrants whose parents brought them to the u.s. without documents. >> unless we can get the same commitment that mitch mcconnell gave the bipartisan group of legislators who asked for it in the senate, we would like that same response to our bipartisan group. >> shepard: a spokesperson for speaker ryan responded saying speaker ryan has already repeatedly stated that we intend

to do a daca and immigration reform bill, one that the president supports. daca is a program that protects the dreamers. president trump has said that he will end it next month unless congress extends it or comes up with a replacement. the white house says it applauds this senate plan to deal with immigration outside of the spending bill. the white house said later in the day it was not advocating a shut down. that's where we are now. we have team fox coverage with john roberts live at the white house. first, our chief congressional correspondent mike emanuel is live on the hill. what do we know about the deal in the senate? >> shep, here's what our sources say is in the spending agreement. about $165 billion more for the united states military, about $131 bill more for domestic priorities. would increase the debt ceiling, the government's ability to borrow money through march 2019

and disaster relief funding for hurricane and wild fire victims. the senate majority leader talked about benefit to the united states military. >> first around foremost, this bipartisan agreement will unwind the sequestration cuts that have hamstrung our armed forces and jeopardized our national security. >> the senate democratic leader talked about the domestic priorities, getting more money in this deal and noted it is a compromise. >> there's one or two final details to work out, but all the principles of the agreement are in place. the budget deal doesn't have everything democrats want. it doesn't have everything republicans want. but it has a great deal of what the american people want. >> and if it's passed, it would keep the government open six weeks. so those folks that dole out the money through different programs could work on a funding agreement to shell out the cash. shep? >> shepard: it's a compromise. nancy pelosi has been speaking

like 10:00 a.m. without any breaks. where is she going? >> republican sources note that nancy pelosi was a part of the talks with schumer and mcconnell and paul ryan, but clearly she's worried her base is agitated about immigration reform, worried about the democrat dreamers so she's on the floor arguing that she wants an agreement or a promise from house speaker paul ryan that that will be happening in short order. take a listen to her. >> this morning we took a measure of our caucus because the package really does nothing to advance a bipartisan legislation to protect dreamers in the house without a commitment from speaker ryan comparable to the commitment from speaker mcconnell, this package cannot have my support. >> leader mcconnell said after they get this funding stuff off the table, they will take up immigration reform next on senate floor. she wants the same thing from

the house speaker. ryan says he's willing to do it but wants to make sure they take up a bill that president trump is willing to sign. democrat votes will be needed in the house. this is something to watch. >> shepard: mike emanuel, thanks. the white house praising the senate budget deal saying it includes a much-needed increase in defense spending. that was their ace in the hole today. team fox coverage continues. john roberts live on the north lawn. hi, john. >> shep, good afternoon to you. the white house says they like what they have seen so far. what is coming out of the senate, they need to see what the final version will be. of course, what happens in the house when sarah huckabee sanders saying that this ends the yearly crisis and kind of a monthly crisis in funding and provides money for the military. you talk to mike about this. he showed that nancy pelosi has been on the floor for hours arguing that a deal for the so-called dreamers needs to be included in any type of two-year budget deal prompting this sharp reaction from sarah sanders this afternoon. listen here. >> we've made clear that the

budget deal should be a budget deal and that members of congress like nancy pelosi should not hold our military hostage over a separate issue. we've laid out what we would like to see in immigration legislation and i think it's something that nancy pelosi should support and hopefully she will come on board. >> now, if the democrats were to get their wish and you know, hold a budget deal until there is a deal on daca in place, we may be waiting a long time, shep. i'm told while there was an agreement in the senate, while there's an agreement in the house on a temporary spending measure, they're nowhere close even to forging a deal on daca. still a lot of differences that they can't seem to get passed. democrats insisting that they do a one for one protection for the dreamers for border security and leave the chain migration and the vetting process for a later date, which republicans fear would be never. they're at an impasse on that

front. >> shepard: you asked about the democratic memo on the russian investigation. >> i did. sarah huckabee sanders said that it continues to go through the vetting process. didn't say much more about it. we're learning from republican sources and sources here at the white house that there's more to this memo than there was in the gop memo and that speaks specifically to the idea that there's information in here that goes to sources and methods that would likely either have to be redacted or if not redacted, the president may have to object to its declassification all together. the chief of staff john kelly saying yesterday this memo is not as clean as the memo that the republicans delivered to the white house a week ago. now, that has raised suspicions among people here at the white house and many republicans that the democratic minority in the house intelligence committee is trying to force the white house into making changes to its memo when the white house made no changes to the republican memo. listen to trey gowdy here and the deputy press secretary from the white house.

>> the democrats are politically smart enough to put things in the memo that require either the bureau or the department of justice to say it needs to be redacted. therefore, it creates this belief that there's something being hidden from the american people. >> the democrats are playing politics with people's lives here. they tried to load in sources and mets so we would have to redact it so they could claim a political bias against them. >> democrats are insisting this memo should be released and that the white house makes any type of political redactions to it, they say that would be nothing more than the white house stone walling on this issue. >> shepard: and the senior white house official that says he's leaving but denying the accusations that he physically abused two of his ex-wives. >> all of this has unfolded in the last few days in the u.k. publication the daily mail. rob porter is the staff secretary. a key player. he coordinates policy in the white house and also responsible for vetting all of the information that makes it to the

president's desk. also reported be dating the communications director here at the white house, hope hicks. his two ex-wives claim that he verbally and physically abused them. his first wife claims that he punched her in the phase giving her a black eye while on vacation in italy. the white house staff huddled to discuss the allegations. porter resigned his position and put out a statement that was read by the press secretary. listen here. >> rob has put out a statement which i can read to you now and it will address some of those other questions. these outrageous allegations are simply false. i took the photos given to the media nearly 15 years ago and the reality behind them is nowhere close to what is being described. i've been transparent about the vile claims. my commitment to public service speak for itself. i've always put duty to country first and treated others with respect. i'm deepfully grateful for the opportunity to have served in

the trump administration and will seek to ensure a smooth transition when i leave the white house. >> the photographs that sarah sanders referred to are the first photographs with his first wife, a black eye while in italy. the daily mail says this is known by the fbi, everything that went on, that is part of his security clearance. the fbi interviewed his two ex-wives and apparently they told their stories. so you know, there's still thread to pull on in this. we have not heard rob porter's side to the story. we don't know how he would explain what we learned about in the last couple days. certainly the fbi knows all about it. not to say that they're going to say anything about it. there's a lot more that we need to learn about this, shep. >> shepard: john roberts at the white house. thanks very much. more ahead on the budget deal and this push to get this through the house of representatives. did you see what happened today? the defense secretary speaking

at the white house saying our military needs this. that's a heck of a push on anybody to say never over on the democratic side in the house of representatives. makes it extremely difficult. might they get this done over nancy pelosi's objections? certainly possible. i'll speak next on all of this coming up from the fox news deck. i take pictures of sunrises,

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>> shepard: reading way, reading way. nancy pelosi is reading away. what is she saying? >> people like him that want to stay here and serve in the armed forces. i think the answer is quite clear. >> shepard: getting harder and harder to continue to speak as she's been doing so since 10:00 a.m. here on the east coast. the california congress woman says she will not support a deal to prevent the government from shutting down tomorrow night unless the house speaker paul ryan guarantees a vote on the dreamers. a spokes woman for the speaker said he's already said he intends to vote on an immigration bill. joseph williams is here for roll call, a website. good to see you. >> thanks for having me. >> shepard: we heard from the president, i'm okay with a shut down. now they have this deal, a bipartisan deal. nancy pelosi is like no way. that means nancy pelosi gets blamed for the shut down. that's not a great place to be. >> a lot of only -- optimism on

this deal. conservatives backlash against it -- >> shepard: i want to get to nancy pelosi. she said i promised any constituents, we'll come up with a way for the dreamers. this is about the end of our juice. this is about the end of our leverage. we got to get this for the dreamers. so all of a sudden they bring in the military. they didn't just bring in the military, they brought the top man to the white house to speak from the podium there. you never see that. presidents go to the pentagon. secretaries of defense rarely come to the white house. the pressure is heavy, isn't it? >> it is. you seen the same pressure on democrats on the past crs. they said they were blocking funding for the military. so remains to be seen how many democrats go with nancy pelosi and vote against this as you have said. speaker paul ryan has made clear what his plans are for the daca debate. there's not a lot of optimism

those plans were change. so it's nancy pelosi versus her caucus to see if they join the republicans and pass this. >> shepard: the far right, the conservatives, the freedom caucus, that bunch has different concerns. >> yes. they're concerned about the debt limit. >> shepard: they think we spend too much and spending is going way up. >> yes. you'll see possibly upwards of a third of the house of republicans conference voting against this. the spending cap deal on the six-week c.r. >> shepard: sounds like if you add it all together in the house of representatives, doesn't look like there's enough votes to pass this or there are? >> there could. again, depends on how many democrats choose to break from nancy pelosi's position that they will not support this without a more firm deal on daca. what we're hearing, there could be a number that decides to

support this. >> shepard: will they want something? >> i think the understanding is paul ryan made a commitment and they're not sure how much more you can extract from the speaker. they want a similar deal the senate democrats got. it's not possible that paul ryan will made the same deal to senate democrats. >> shepard: it was a moment a couple hours ago. i feel like we ought to make mention of. a bipartisan agreement came out of washington. you saw the leader for the republicans and the senate and the leader for the democrats and the senate, the white house saying yes, yes, yes, we can get in done, bipartisanship for the senior bunch. and then over there in the house, it's the same thing we've been looking at for years now. the freedom caucus on one side and the liberals from the democrats on the other side and no compromise to be made. if they can't get this done, if they cannot get this done, where does that leave nancy pelosi? >> a good question.

a lot of reporting done about her future in the -- as the leader of the democratic caucus in the house. i think this is really a pivotal moment for her trying to bridge the two factions, those hard on immigration and want to she a daca deal done and the more moderate members that are concerned about keeping the government open, keeping the funding going. how she navigates this will be telling and will i think play a really large role in how she continues to lead the caucus after this. i'm not sure how this plays out again. i think we have to see where the votes are at. this is a really telling moment for her leadership and her future as the head of the house democratic party. >> shepard: it is. when you look at it and just say, all right, here's where they are and here's where everybody is. i cover these people all the time. i have a good idea about this. do you say it looks like this is more about to happen or more like it's road-blocked? >> a lot of optimism. given the difficulty there was

in reaching this deal already, something that nancy pelosi was a part of as one of the big four, i think there's a lot of hope that this will eventually pass and that the numbers, the votes will be there. this could all change once the bill gets to the house and passes the senate. so i think there's is a lot of optimism that this will all be signed, sealed and delivered before the deadline thursday at midnight. >> shepard: joseph williams from roll call. thanks a lot. >> thanks for having me. >> shepard: it was quite a thing, wasn't it in to look up and secretary the of defense and say your military is going through this with your continuing resolutions long enough. we have to plan for the future. do you understand? we can't to this anymore. republicans who were, you know -- they're very pro defense. for a republican to say yeah, but we're overspending, we're not going to give you what you want, that would be very hard. for democrats to say we have to protect the dreamers so we're not going to fund the military, that would be very hard. the optics are powerful.

more ahead of d.c. and a potential tough sign for republicans. democrats just flipped another seat in a deeply red district. did you hear about this? where it happened and what republicans and democrats say it could mean for the mid-terms. sometimes small things tell big stories. and sometimes they don't. we'll see coming up. you know what's awesome? gig-speed internet.

you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. >> shepard: you heard what happened last night in the state of missouri, right? they had some of the special elections. this one for a house seat in a state that is as deep red as you can imagine. it is full on republican this seat. and party officials say that one race could be a sign of a very big blue wave coming in

november. ten precincts in one district. as it came in, it started to become clear that the democrat was going to take this. his name is mike revis. he's a centrist, just left of center. 27 years old. he has a regular job, a regular guy, a manager at anheuser busch in missouri. this was an open seat. he beat his challenger by 4 percentage points. president trump won this in a landslide. when president trump ran in this district to become district, he won by 28 percentage points. this democrat won by four. it's an enormous swing. democrats say it means a lot. the democratic sites and the democratic tweeters were lighting up all night. they say it showses they're putting up the best candidates focused on local issues and they can win in red districts. they can flip the house. that was a state house. important to note, republicans

won three other races in missouri last night. there were four different special elections. republicans won three of them as expected to by all closer than anybody would have imagined. they still control the super majority in the state's house of representatives. don't get my wrong. missouri is still very red but little things are changing. this comes in the wake of a few recent wins by democrats. that includes in alabama where, well, a lot going on in alabama doug jones is the first democratic senator from that state in a quarter century. but there were extenuating circumstances. the pentagon is planning a military parade after president trump asked for one. that's the word from one u.s. defense official. he attended the bastille parade in july in france. he said it was one of the best he had seen. he was smiling ear to ear. he said later how much he loved it and he said we're going to have to try to top that. jennifer griffin is live in

washington. when did this happen? it wasn't like yesterday. this was awhile ago. >> when the president visited the pentagon on january 18 to meet with the joint chiefs and the tank and receive his local threat assessment. he mentioned how impressed he was in bastille day in france and seeing the military parade with tanks and hardware and marching soldiers. on the plane ride home, he said he was dazzled by the show of military hardware and wondered it loud since then as to why the u.s. does not have a military parade along pennsylvania avenue. the defense secretary and others realized that that meeting, the president was serious and ordered to start planning. defense secretary mattis was asked about it at the white house. >> we're all aware in this country of the president's affection and respect for the military. we've been putting together some options. we'll send them to the white house.

>> we vice president made a final decision. the president is exploring different ways that he can highlight and show the pride that we have in the military i. >> at the inauguration, president trump was disappointed that he could have a full military parade were tanks and other symbols of american power to mark his as sent to the presidency. she was dissuaded because the tank treads would tear up pennsylvania avenue, shep. >> shepard: it's more than that, isn't it? you have to get them in there somehow and don't the light posts have to come up? how are the bridges? a lot to think about, including d.c. council this morning that put a no tank sign up there. >> and also the fact that they he be taken out of training, very costly at a time when defense budgets are a real issue. i would describe the reaction at the pentagon when this story broke as a collective eye roll from military leaders that have spoken to. most thought that the u.s. will

look like the dictators that they scoff after. kim jong-un will have a parade to prop up his regime. china and russia have long head those military parades for years to divert attention -- to avert their population for criticizing lack of freedom and good government. the tradition in france dates back to napoleon. the u.s. used to have a military parade after the first gulf war and then dick cheney and general norm norm norman schwarzkopf reviewed the troops. right now they say there's more planning issues and planning a parade is not one of them. >> shepard: he could see them at a military base. >> and they have parades on the bases. they have video of the 82nd airborne. they have annual parades there and shows of military hardware across the country.

>> shepard: the airborne one, that's one to see. it's incredible. they could give him replicas. he wants to see what he has. they can give him little -- i had some of those when i was a kid. >> years ago we did a story from moscow how russians used to put out balloons as missiles and tricking the u.s. they were fake missiles through red square. >> shepard: you can get the plastic ones and lay them out on the table and say here you go. >> we can play strategy and risk. >> shepard: we could. why not? jennifer, have a great day. great to see you. >> thank you. >> shepard: thank you. approaching the bottom of the hour and the top of the news. the secretary of state rex tillerson says russian hackers are trying to interfere again with the election here in the united states. we may not be able to stop them, which is fabulous news. what this could mean for the mid-term elections coming up and it's the bottom of the hour. we'll do headlines and come back with a reset on america's choice for news and information on cable. this is fox news channel. i have type 2 diabetes.

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>> i'm lea gabrielle with a fox report and more of today's headlines. police in las vegas released surveillance video of a man they say shot four people in recent weeks killing two. most of the victims were homeless and he shot them while they were sleeping. cops say the suspect is armed and dangerous. rescuers are searching for survivors in taiwan after an earthquake killed six people. officials say dozens of people are missing after the 6.4 quick hit last night. buildings collapsing and tilting, including one at a 45-degree angle. crews put up beams to hold it in place. pope benedict xvi wrote a letter talking about his declining health. the 90-year-old former hope said he's withering but it was a great to be surrounded by love on the final stretch of road that is sometimes difficult. pope benedict retired five years

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>> shepard: the russians are already trying to interfere in this year's med term elections in the united states. who says so? the secretary state rex tillerson says so. he also says that it could be very tough to stop them. tillerson sat down with our own rich edson. he's travelling with the secretary of state in latin america. hello, rich. >> good afternoon, shep. secretary state rex tillerson says russia's fingerprints are all over election interference in latin american, europe and ahead of the mid-terms in the united states. he says there's substantial challenges in preventing it. >> is the u.s. better prepared than in 2016? >> i don't know that i would say we're better prepared because the russians will adapt as well. >> if it -- the point is, if it's their intention to interfere, they're going to find ways to do that.

we can take steps we can take, but this is something that once they decide they're going to do it, it's very difficult to preempt it. >> secretary tillerson says he haas a message from russia. the united states knows you're interfering. stop it or there will be consequences. the kremlin has denied any election interference a broad. secretary of state despite those interference attempts, the russia's backing of the assad regime in syria, he says he still wants to work with the russians and find common ground between the united states and russia. rex tillerson is back to the united states after a week in latin america. state department says he's been working on security and economic relationships down here on the economy front, particularly countering china's growing influence in this region. shep, back to you.

>> shepard: thanks, rich. let's turn to desmond butler from the associated price. how serious is this? >> look, there's a lot of evidence that the russian government is targeting u.s. elections is. there's extensive espionage going on. >> shepard: nobody is pushing back on this, not the state, not defense. >> it's hard to say. >> shepard: i haven't heard anybody push back on it. >> i haven't seen a lot of evidence. >> shepard: is there activity to prevent it that we know about? >> i think people are trying, this is a very extensive effort. russian is very good at it. >> shepard: like what are they doing? any specifics? >> what is the u.s. government -- >> shepard: what are the russians doing? everything? >> they are doing a lot of hacking. the group that we looked at was responsible for hacking a lot of the members of hillary clinton's

campaign. >> shepard: i was going to get to that next. that same group of hackers that hacked in 2016 also tried to steal u.s. military secrets. that's according to the associated press and an article that the russian hackers called fancy bear, that we reported on on the heels of the associated press, quoting them include raytheon and lockheed-martin and the staffers are working on classified high tech projects for the pentagon including drones and stealth fighters. they got to not the employees but the ones that contract out. the a.p. said the hackers tricked the workers in clicking on links that can expose their files and lead to blackmail. we don't know what they got, right? >> that's true. we know that a number of the people that they were targeting clicked on the links that could have exposed them. i should emphasize, this is their personal e-mail accounts. but a lot of people use the same passwords for their serious ones. you can find compromising

material on somebody. the russians are good at blackmail. >> shepard: the russians wants compromise. they would go through everybody and use your pass wording to get into another place or come to you and say good afternoon. i know the following, that your wife doesn't want to know. as a result, you're going to tell me whatever it is. we don't know what has happened. >> there's a long history of that. >> shepard: it's not a new thing. this particular incident, we don't know all the ramifications from it or from the story that i read that you wrote. >> in part because we don't know that anybody really investigated it. >> shepard: there -- there's not a big push in washington, which is really surprising. i've heard this attack compared to a physical military attack on the country. it's that serious from an enemy of the state. and yet there's no big push out of washington or is there something that i've missed? >> you know, which military

attacks compromised our democracy as much as what happened during the last election. >> shepard: you don't hear about it. you don't hear the fight back it. you don't hear warnings how you can become unwittingly a target. >> part of that is partisan politics. >> shepard: you think? >> what happened during the election is thrown into a -- a situation where people don't want to talk about it in the way that it's actually happening. >> shepard: it's the first time that a lot of historians can remember ever that we've been attacked in such a way that we pretend it didn't happen or something. >> there's a lot of elements are government that are working on this. whether or not our counter measures are as effective as the russian measures, that's another question. >> that is another question. thanks, desmond. thank you. >> thank you, shep. >> shepard: the white house says the democratic memo on the russian investigation is not as clean as the republican version

was. officials might need to make some changes before it can go public. republicans say that the democrats did that intentionally. the justice department officials say they reviewed the document and didn't make any changes. democrats say any redaction could mean the white house is, well, dragging its feet. look over here, look over here. we'll be right back. you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide. prevagen. the name to remember.

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>> shepard: the white house says they're still reviewing the democratic memo on the russian investigation as president trump debates whether to let it go public. democrats say the document challenges a republican memo that claims the fbi abused its surveillance powers in its investigation of the former trump campaign adviser. the president did allow the release of the republican document on friday. julie is here with us for the "wall street journal." the paper with which this network shares common ownership.

god to see you, julie. >> nice to see you. >> shepard: what is really happening here? >> well, what is really happening is that the memo is undergoing an extensive review by the white house at this point. legal national security review. we expect an answer in the next couple days, maybe sooner. and then we may have a situation where we have two different memos for the public to review, which puts a lot of information in front of people without though the crucial underlying information, which of course is classified that led into the writing of both of the memos. >> shepard: is it true that only trey gowdy has seen that on the republican side? is that right? from the committee? >> i believe that's correct. so this democratic version of the memo seems to have a little bit more mystery about it than the one we got from the republican side. >> shepard: and all kinds of pushing back and forth. this source will say they put

stuff in there that would have to be redacted. the other side -- it's so much for anybody to take in, you know? people that are like i'm confused. there were a couple very smart people like night that were not partisan and they're confused about all this. they won. that's what they're trying for. >> i know. i've been joking with some colleagues that were going to end up needing a memo about the different memos before things are over here. because it just does seem like there's just a flood of misinformation about all of the things that the committee is hearing and, you know, as a result, we have two different memos. one that we've seen, one that is being considered by the white house and then like we said, we have competing narratives of what's really going on with the memo. did the democrats lard it up

with information that they knew would not be passed and they could say the white house is blocking their viewpoint. it's a big mystery for now. we'll have clarities in the coming day. >> shepard: and that there be a new narrative. that was the goal. the old narrative about is what is really happening, which is the mueller investigation which is getting closer to the white house. what i thought was an extraordinary interview that joe biden told me he's thinking hard about running president, he and chris cuomo talked hard about this. i want to show you what he said about sitting down, the president sitting down with special counsel. >> you think he should sit down with the special counsel? >> i were the president's lawyer -- >> everybody would tell him not to. it's the next sentence. he said he has this propensity

to not tell the truth. >> again, just to compare what the president is saying about whether he would sit down with what we're hearing from some of his legal team about the advice they're giving and under what circumstances. we haven't been at crunch time yet where we're looking at what the decision is on that. that could be coming soon as well as you mentioned. >> shepard: a lot of clips from this. i want to play one more. listen for the end here. >> anybody didn't stand up and clap for him was un-american and maybe treasonous? >> they say it was tongue and cheek. democrats can't take a joke. >> he's a joke. >> the former vice president of the united states calling the current president a joke. that is extraordinary. maybe not in recent days but in recent days, that's

extraordinary. >> it is. it's interesting. in that same interview, i believe he was talking about -- really did not rule out whether he in fact may run in 2020. >> shepard: no, no. not ruled out. >> is he talking about a potential political opponent here? it's really, as you said, extraordinary to hear a former vice president talk that way. these are different times we're in. >> shepard: fully didn't. felt like a candidate. who knows what will come along. julie, great to see you. thanks for coming to us from the "wall street journal" and congrats on your great work there. thank you. coming up, we'll take a look at the dow jones industrial average. crazy days. we're having another one. this is the new normal. this volatility thing. this is the new thing. it's going to be volatile for a while. can we see it? there it is. look at that. it's volatile and been way, way

up. it's not been down except for the first few minutes. gerri willis will be here with us. stay with us. liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat so he could get home safely. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad. is this a lug wrench? maybe? you can leave worry behind when liberty stands with you™. liberty stands with you™. liberty mutual insurance.

>> shepard: stocks are up and up and away. a couple minutes ago, we were up 200 points. still up. moves around a little bit. let's take a live look at the dell. it's up 75. you can see, it's staying up but it's moving. it's on the move. it's like gerri willis on a friday trying to get to the beach. it's up. it's recovering. >> simply pleasures. it's calmer today. not quite as nutty. >> shepard: i saw neil in the hall. he said sell everything. no, no, no.

ride the wave. >> if you're in for long haul, you can step back and take a look and see if there's any opportunities. that's what the smart people do. it can be tough for individual investors to do that. yeah, a little calmer today. what i thought was so interesting is that congress came aboard, the senate pass to the budget deal. >> shepard: that was great. >> i thought it would be good for the markets. it's what we talked about. worries about inflation and interest rates. if the federal government has to borrow more money and more and more and the cost goes up and up, that's not good news for the government. >> shepard: there's a lot of people out there that are suggesting that the cost of money could go up rapidly. >> right. >> shepard: not slowly and over time. >> that's what we've seen a little bit of. that could mean higher inflation. that's not good for stocks. >> shepard: once they get used to that idea, won't they calm down? we know what the trend will be

now? >> here's the thing. we listened to inflation before. we lived in hyper inflation. what did you pay on a mortgage 20 years ago? it's not what you're paying now. so once people get this into their brains and more importantly traders reset their portfolios to reflect those changed assumptions, we might see more calm. on the other hand, if you think this is over yet, maybe not. i think you've got to keep an eye on this. at the end of the day, we could see more volatility. >> shepard: did you see the launch yesterday? spacex? loved it. happened in our hour. the falcon heavy. it can handle more than double the pay load of the very little words on the steady cam. the words are smaller there. but it can handle the next most powerful rocket. lillian is here with more. this is great. >> this is a photo of yesterday's launch. we saw the two side rockets land safely. >> shepard: that was amazing.

>> we know the third rocket didn't make a safe landing on the barge in the ocean. we were seeing more details about the roadster. the circuit board has made on earth but humans so aliens will know. we know it was headed for mars' orbit. it ended up going around the asteroid belt and looking cool just floating around. looks fake but it's not. >> shepard: elon's roadster. don't panic. stay calm. we'll be back. gas, bloating, constipation and diarrhea

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>> shepard: on this day in 1882, a guy named john sullivan won his first heavyweight boxing championship and was on his way to becoming one of the first celebrity athletes. he knocked out the reigning heavyweight, patty ryan in a bare knuckle fight in mississippi. some historians say sullivan's big personality combined with the growing media influence started america's obsession with

sports stars. john sullivan beat everybody to the punch and helped create the modern sports age 136 years ago today. oh, dow. make up your mind. here's cavuto. >> neil: all right. they're trying to get a two-year budget. the markets have had a chance to crunch the numbers. they're down on indications that this whole budget thing, it's not all on the up and up. let's first discuss what happened at the corner of wall and broad where it was just as volatile as some fired it could be. deidra bolton on what happened. >> on what happened, neil. that is the right question. if you take a look at this chart, look at how many mountains and peaks and valleys we had. when we spoke earlier, it was up 350 points. down 127. obviously this is a