well they've tried that they did break up ma bell bell was broken up and then read. a actually at war divorce they remarried under a didn't see and all the all the bells came back together they also tried that with the seal ex and they a lot of people did make some decent money but obviously those have been all basically gobble back up they did the same thing in the cable industry those all started out very local and you had advance newhouse one of the ones early on here in the florida area but they've also the time warner isn't the individuals that own the backbone impose structure you know it's very similar like you brought up with standard oil they own the railway system that was transporting the oil and that's how they control the industry well the same thing goes for the backbone infrastructure for the internet that is owned by a very small select group of people who are controlling that transport on those backbone infrastructures and you know that infrastructure is very easily managed you look at the kinds of inner connect that they have you know each single fi

bell" exchange, we're seeing another one of those days like yesterday, not much volatility, slightly lly higher for the ma averages joining our "closing bell" exchange, randy frederick, at post 9 and rick santelli joins us from chi-town market doesn't seem too be concerned about anything that's going on in washington right now. does that say to you they don't think there's going to be a shutdown, we will get this tax reform bill passed i mean -- >> that kind of seems it like -- >> thinks that far ahead sk >> the overall mentality for quite some time, the market doesn't react to much coming out of washington. like jimmy p. said before, when we talk about government shutdown, the market doesn't absorb that information, doesn't take it into consideration we have seen government shutdowns before in other administrations and the market brushes it off i don't think that's a priority here we continue to look at tax reform, how that's going to impact our markets and our economy. clearly fomc next week is something we've had this date on our calendar for quite some time we're finally getting there. >> randy, government shutdown is high drama for washington, but for wall street it doesn't seem -- if we lad one, would it be negative for equities >> i would be very surprised if it has in fact, you can look at all the shutdowns we've had since world war ii, the worst one resulted in a very small percentage downturn the last three the market went up the most recent one in 2013 was the biggest bullish market for during a shutdown ever so history doesn't guarantee the future, but it certainly lays a pretty good roadmap. >> maybe we should cheer one on, then. >> is that coincidence or is there a reason the market would go up during a shutdown? >> you know, i don't think most investors think the government accomplished a whole lot of anything, anyway shutting it down doesn't necessarily seem all that bad for investors. again, i'd be very surprised in a bull market, optimistic as most investors seem to be right now, if this shutdown would have an impact at all as far as tax reform goes, i don't think there's an enormous amount of urgency there. with the few exceptions of people who might want to get out of positions at the end of the year with lie bases before they fine forced in starting next year, all the impact doesn't kick in until next year. >> fifo being first in, first out. one of the provisions they're considering in the tax code. >> rick santelli, i can't imagine you disagree with the discussion that's been going on up here about if the government shut down, who would really care when it comes to the investing community? >> reporter: well, i mean, listens it listen, it's fun for the media, fun for the politicos. always stories about coupons not coming and defaults. i completely agree with our guests you know, it's a kabuki dance. everybody is really figuring it out. on the issue of the marketplace, it does have one little itty bitty effect sometimes, and it has, watch the one-month bill auctions. you know, there's a little volatility in that regard. i think that today's stock market actually made a difference in bond trading and it's going to be interesting to see how it pans out. earlier today, the close for the bunds continued to mark clo closed -- we saw the long end reverse a little bit as the stock markets regain their sea legs it's going to be interesting as we go into year end, who's going to win the battle of interest rates is it going to be the economy and stock's effects on the fixed income market and the yield curve or be overseas because it certainly looks like overseas rates are going to drift lower right into year end. i think that's fascinating then all bets are off at the beginning of next year, whether it's because of potential tax changes, or it's because of mario draghi and less qe that's going to be fascinating. one other thing, dollar index is crawling up here to an important level at 94, which would mean it's only down 6% on the year. >> yeah. here we've got 13:19 without mentioning the jobs report that comes out tomorrow once upon a time, that would be in the first 30 seconds of the show what are you guys expecting tomorrow >> expecting nothing right? i don't think it's going to really be outside the lines. i think that's when investors are looking for and the pattern we've seen over time from that point of view, it's not going to make an effect on the market >> i think that's probably true. imiean, weed ha elad a great wy jobs report claim. those four will feed into this one. odds are pretty good we're going to see a very good number. that's probably going to continue into the first part of next year. the labor market is in incredible shape. >> you know what i thought we were going to say -- >> i think we're going to see a big number. >> i thought you were going to say bitcoin. >> that's coming. >> don't worry. >> please, no. >> thank you, guys. >> no, no, i know. we'll get to the tulips later. thank you, all see you later. good to see you, randy, thanks for joining us today. >> good to see you. >>> so 46 minutes left in the trading session here the dow was up i didn't realize it was up 120 i knew it was up 100 at one time we have come back from those highs. everybody is positive, though, right now. >> s&p is higher by almost six points. >>> at&t in court today as the department of justice attempts to stop the country's number two wireless company's $85 billion purchase of time warner. up next a bull and a bear size up this deal and the telecom sector. >>> visa has taken branding to a new level in its search to stand out in the retail and mobile payment space. ahead, you will hear literally what they came up with. >> i cannot wait. >>> and we want to hear from you, you can reach out to the show on twitter, facebook, send n ma iyowau nt you're watching cnbc, first in business worldwide is the monolithic view of emerging markets obsolete? 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[ mouse clicks, keyboard clacking ] [ mouse clicking ] [ keyboard clacking ] [ mouse clicking ] [ keyboard clacking ] ♪ good questions lead to good answers. our advisors can help you find both. talk to one today and see why we're bullish on the future. yours. >>> welcome back to the "closing bell doesn't fell like it's been a volatile day but the dow had a range of 16 0 points right now we're higher by 64 points shares of lululemon higher today after the retail reported an earnings and revenue beat after the bell today company also announced a $200 million buyback. that stock is trading as you can see higher by more than 6.5%, gain of $4.57 a share. >>> meantime at&t and the department of justice have been meeting today during a pretrial hearing in the antitrust suit over its pending time warner merger the judge hearing that case has just set a trial date of march 19th for next year. so not exactly the imminent trial date that randall stephenson was hoping for. they asked for february. >>. >> right they said on cnbc, randall stephenson said immediately and in court they asked for february the judge gave them march. yeah. >>> meantime, telecom stocks are lower as you can see so far this year t-mobile is the exception, they're up almost 8%. >> joining us, craig moffitt who remai