for "nightly business report" in washington, d.c., i'm brian sullivan. >> meanwhile, republican senators are raising against the clock on their own on health care and today, they promised to release their bill on thursday. the goal is to produce and vote on a health care bill before congress leaves for its traditional july 4th re. >> seth:. kayla has the progress and sticking points. >> after weeks of deal making, mitch mcconnell e the wraps off health care. >> we're going to lay out a discussion draft thursday morning. you'll be able to take a look at it. i think you heard from some of my colleagues the highlight of it and i wouldn't want to compare it to the house bill. it will speak for itself. >> the privacy negotiations providing fuel for democrats. >> i don't know what's in the bill. our colleagues who are working in secret right now seem to have a disturbing lack of interest in transparency. >> republicans can only lose two votes. even lawmakers involved in the talks like senator ted cruz say there's still a lot of work to do. the party's priorities vary widely. some like cruz ins

i am brian sullivan. scott wapner has the day off a big day for the banks. they are getting the green light to increase dividend payouts and share buy backs. joining us for the hour, john najarian, josh brown who by the way was named number one most influential advisor by investopedia. >> thank you to investopedia. >> michael farr, ceo of farr, miller and washington. mr. wonderful himself, kevin e o'leary himself the markets have turned south. the dow jones industrial average is down 158 points about 3/4 of 1%. the nasdaq is your big decliner. that is down 1.73% we'll get more in the tech weakness coming up the yield on the ten year note is in fact inching a bit higher today. john najarian you pointed out before the show that there is a lot of things we can point to but that euro was weak what is the root cause of what we are seeing today? >> i think some of the comments from draghi and some of the things that have been going on over seas, not the lack of growth i know kevin's going to hit on that for sure because that's one of his big points about why you s

i am brian sullivan. scott wapner has the day off a big day for the banks. getting the green light to increase dividend payouts and share buy backs. joining us for the hour, john najarian, josh brown who by the way was named number one most influential advisor by investopedia. >> thank you to

. >>> that's right, kelly, thank you live from the new york time's square, i am brian sullivan in for mellissa lee welcome to this furious lat "money tim, kyren nothing feinerman and gorgeous guy adami i'm new. tess lab has been on fire the tech anything that correctly called the brakeout now says, "get out!" apple taking a big step to beef up its tv business s. this netflix's worst nightmare? gene munster says so he is here to tell you how tight it might be. >>> as you know, many tech stocks have been sinking, one stock traders say can make you money going order, that name is ahead. first. >> i taped it. >> you are welcome we captured main street, amazon buying whole foods, shares of both those companies rising today. but, that deal scared investors away from pretty much every other consumer-related company, from big box stores, the entire ecosystem lost a combined $30 billion in investor value today t. fear is amazon will, well, amazon, it's a trillion dollar industry gorgeous guy adami. >> yes, sir. >> any of the names whacked today deserve another look >> first of all, grad to hav

i'm becky quick along with broin s brian sullivan and andrew ross sorkin brian, thanks for being herere. >> a look at the u.s. equity futures. yesterday was a bit of a mess for the markets. this morning a rebound with green arrows the dow futures indicated up by 60 points. s&p indicated up by 8, and even the nasdaq, which saw the biggest declines, they're indicated up by 15 points. we'll keep an eye on all of this yesterday the dow was down by 00 0.8% the nasdaq down by 0.4%. overnight in asia, the nikkei ended the da

you, melissa this might be the most important single day for tax reform for the gop so far i am brian sullivanat a national association of manufacturers summit in washington, d.c., 30 minutes ago, vice-president pence talked about tax reform and called for a 15% corporate tax rate we are waiting a few minutes for house speaker, paul ryan he will give a major speech on tax reform and outline what he wants to do and when he believes he can get it done after that, he will sit down with us right here on cnbc to talk everything taxes, both from individual to corporation tax reforms. michelle, a bringing day ig day. >>> i'm michelle caruso cab rrea the yields on bonds have hit 2.748% snap and twitter taking a hit after facebook announced instagram now has 250 million daily active users >>> let's listen to house speaker, paul ryan right now as he begins his speech >>> thank you so much, buddy appreciate it. afternoon, everybody how are you doing? great to see you thanks for coming out today. appreciate it. welcome to d.c hi, kathleen thank you. thank you very much. appreciate it. please jay and i go

i'm brian sullivan, that pun will matter in a second. "power lunch" starts right now. >>> you might need some hardware to fix it. lock it "power lunch." the may melt up. all of them hitting highs yet again. all three on track for a second straight week of gains. and check out the day's movers within the averages. canada goose soaring almost 10% on it's earnings beat. the apparel maker. 60% since the ipo in mid-march. broadcom, it's rallying. beating estimates and giving an outlook. here's what else is happening. kkr raising more than $9 billion for it's most asia fund. and sets a new record for the region. goldman sachs under fire for buying bonds in venezuela. now the wall street journal reporting that goldman's trade was not reviewed by top executives. and new york's attorney general claiming that exxon mobil misled about how it accounts for the impact of climate change on the operations by using internal estimates that were different from it's public estimates and statements. and speaking of climate change, big business, not happy wit

. >>> house speaker paul ryan giving a major speech on tax reform and he told brian sullivan he expects to get this done before the end of this year >> we all agreed on the timeline gary, steve mnuchin, the house and senate tax writers, we believe this fall is the time to get it done, get it done before the end of the calendarier this has to get done america's tax system is one of the worst in the industrial world. it's a huge anti-competitive force in our economy it's the abcs, the basics of tax reform we agree on almost all of that we're narrowing our differences, getting on the same page and then delivers tax reform in the fall >> joining us now with tax reform and other issues on the hill, senator chris coons. senator, we want to talk about patents, and strengthening that. you can look at the history of the world and it wasn't up until you could own something, intellectual property, gdp, per capita gdp, that's when it went up inventors used to be paid by inge cans and queens this is a bipartisan thing that you are doing with a couple other senators we all understand that it brought

i'm brian sullivan, that pun will matter in a second.

i'm brian sullivan and a fast break slam dunk edition of "power lunch" begins right now. ♪

speaker ryan, are you saw that speaking to cnbc last hour about tax reform here's what he told brian sullivan when he asked him if he would support a push for a 15% corporate tax rate. >> i would love it if we could get the numbers to make it work. >> do you think you can? >> i'm all for it, something that's actually possible we're going to spend all summer long drafting and getting what we call scores, getting the numbers to work. we being the house tax writers, the senate tax writers and the white house and treasury department, getting these numbers to work, so we want to get these rates as low as we possibly can, get to a territorial systems. the basics that we all agree on and that's what we're working off of right now so we can stick the landing this nal because we really do believe you can't get to 3% growth without this. >> aggressive timeline tax reform is front and center for many investors, health care still needs to get done first. our kayla tausche is in washington with the latest on that moving target kayla, what can you tell us? >> sara, it's six weeks after the house passed its

come on back brian sullivan has a look now what's coming up on "power." >> hey, scott, thanksvery muchng up at the top of the hour, uber's rocky road. founder travis kalanick stepping aside as ceo but what does it mean for the company's valuation and its path to an ipo. what does it mean for th overall market we'll dive in. >>> and breaking at the top of the hour, the latest quality auto ratings for j.d. power. we have them and you may be surprised to see who is at the top. >>> and a succession shake up in saudi arabia surprising the political world. we dig into what that means for the oil market, comi up ngon "power lunch." but more "halftime" right after this this is where i trade andrs. manage my portfolio. since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. ♪ dynamic performance, so you can own the road. track-tuned handling, so you can

one highlight in particular i want to concentrate on i was asked by brian sullivan, you think illinoisremember reading no state is allowed to go bankrupt that is federal. tell me what the cities and municipalities have when it comes to making their odecision >> there is no bankruptcy access for cities and counties. >> soun like harrisburg mshgs cities have gone bankrupt since credit crisis. no entity can go bankrupt in illinois based on its constitution and the federal constitution says no state can >> that's correct. >> holy cow! so what's the end game here? >> well, chicago has actually done a lot of things in terms of tax increases and spending cuts and economy. >> the engine of growth for the state. >> the engine of growth for the state, no question chicago has made some change that's has stabilized the ratings. >> and some of the interest rates have moderated a bit. >> correct >> what happened to i will snll? >> they've gone the opposite direction. they've been downgraded several times including this year. on watch for another downgrade number budget agreement, no new taxes, no sp

you are watching power lunch with brian sullivan and melissa on cnbc.o] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. time's up, insufficient we're on prenatal care.es. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. >>> it is novocure's break out the stock is up 120% this year it is one of the best performance stocks that tracks the biotech index and bill from washington, welcome to the show. >> thank you for having me >> it is something that you can put your shaved head to t

. >> lynne is a hokie, so is brian sullivan us hokies stick together. >> you'll have to explain it tok you. >>> a big banks about to get their report cards from the fed. those stocks rallies today ahead of the results we'll tell you who will come out on top plus the dollar is at a seven-month low. "power lunch" will be right ba ck online u.s. equity trades... ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. >>> this afternoon, the second report will be released. buybacks, increases in dividends. let's bring in jason goldberg. good to have you here. >> good afternoon. >> so people wait for these stress tests, because this is the moment where finally the fed has said, okay, you have enough capital, so now you are allowed to do other things with it, presumably return it to shareholders you cover a big pile of banks

i'm brian sullivan "power lunch" kicking off right now. >>> and welcome to "power lunch. i'm kayla tausche. at this hour stocks are mixed holding steady off the lows of the session. the nasdaq and s&p 500 both on pace for their second straight losing week. the s&p 500 hovering just about at that break even level retail names taking a hit following the amazon deal news and the dow turning positive up by about eight points. it would be high fer it weren't for walmart's drag of 25 points, down 4.5%. energy the best performing sector chevron, all leading the way today. michelle caruso-cabrera is down in miami with the president's big announcement >> hey there, kayla, yes i'm in little havana where a large concentration of cuban exiles trump and that is why president trump is coming here to announce his new cuba policy trying to make positive on a campaign process he made he believes cuban-americans in miami were crucial to delivering florida to him we are waiting to hear what these new policies will be in his speech we've gotten some hints. slightly tougher travel for america

i'm brian sullivan and a fast break slam dunk edition of "power lunch" begins right now. ♪ >>> and welcomeo "power lunch." i'm melissa lee. not much movement in the market right now at the headline numbers. little change d but to the down side right now. hitting all-time highs, squared, dunkin brands, johnson and johnson. wendy's pulling back from a ten-year high after nelson pelts discloses a 22% stake and the gold miners on pace for their best day as gold nears a seven week high. >>> i'm courtney reagan. here is what else is happening this hour. a man was shot by police outside the notre dame cathedral in paris after he tried to attack an officer using a hammer. they are treating this as a paris incident and the area has been closed. >>> u.s. jobs openings rose to a record high but the pace of hiring slipped to one-year low. openings climbed to 6 million with more than half in the hotel and restaurant industry. and chain store sales rose year over year as traffic trends improved with memorial day promotions driving demand supporting red book. >>> courtney, thank you very much. but we beg

. >> 30,000, what is that a 4-year-old car >> i'm not in the brian sullivan world. let's change it.ge price is there are 60,000 or $70,000. >> first of all, i only buy used cars i learned from phil that the average price of car is well above that >> $33,000 something around that. $33,700 is average transaction price. >> thank you >> that's average transaction price. >> bye, phil >> another news alert, this time on uber. >> hey, guys, of all pemt we could run into here in detroit, we ran into former attorney general eric holder who of course led that investigation into uber's corporate culture. i asked him what was next for the company and he said that he's positive on uber and he thinks that company has a chance now to enact some real change. he mentioned that seven-hour board meeting that happened about a week and half ago and said that all board members were incredibly serious and he is very optimistic that all of his recommendations in that 14-page report are going to be put into place. guys, back over foup. >> all right random run there, thank you very much >>> ceo, travis kalan

balance and a $70 billion valuation on the line as the world's hottest startup ran out of gas i'm brian sullivan and "power lunch" begins right now. >> i'm melissa lee coming to you from miami it is the tech event of the americas with us on the show today forget walking into a bank, this company is completely disrupting the way consumers now get loans, instant loans. the ceo of green sky is with us. plus our exclusive with the ceo of sprint. we'll weigh in on merger speculation with t-mobile. and personal final guru suze orman will be along as well. >>> let's take a look at the markets this hour. the nasdaq continues to be the story today. right now the tech-heavy index is down about a full percent doing the worst of all three major averages apple is a big reason why. the biggest, down more than a percent more than the next weakest sfok, united health. the stock getting another downgrade today, the second in a week for unh netflix, microsoft among the big tech laggards on the day ge investors making more than 3.5% today this, of course, after ceo jeff immelt announced he will be stepping down af

hello, everybody, i'm brian sullivan. it's a very important news day for america, for the world and for the markets. the comey hearing, though, not the only news topping your cnbc headlines. uk election a major retailer potentially being taken private. and big bets against one of the most well-known tech companies out all also all matter to you and your money and we hit it all as "power lunch" begins right now. ♪ >>> welcome to "power lunch," i'm melissa lee. let's look at the markets right now. dow and nasdaq hitting all-time highs during the comey testimony. take a look at the vxx right now. take a look at that below 10, 9.93. financials leaving the markets today this on the back of the house vote of overhaul of dodd-frank. jp morgan, bank of america, goldman sachs among the top performers. and take a look at some of the names hitting all-time highs today, netflix, united health, fed ex, ebay. >> thank you. >>> well, we begin where else with the political drama in washington, d.c. aimen jaifrs like millions of others li

. >> announcer: you're watching "power lunch" with michelle caruso-cabrera, brian sullivan, tyler mathisen and mis lelsaee on cnbc, first in business worldwide. >>> the owners of east coast mobile business launchpad in manassas, virginia, wanted to build a better food truck for customers. their strategy has been so successful that their trucks are now rolling around the globe for more, watch "your business weekends" at 7:30 on msnbc >>> yesterday on "power lunch," we debated whether older americans should pay more for health insurance since they use more health care, sparking another question, what would the health insurance market look like if the government and employers got out of the business altogether? what if individuals got their health insurance the same way they buy car insurance could that be the ultimate fix to our battered and broken system a lot of you actually sent us e-mails suggesting this very thing. joining us is michael tanner, senior fellow at the cato institute, and sam burger, senior policy adviser at the center for american progress gentlemen, good to have you here

. >>> that's right, kelly, thank you live from the new york time's square, i am brian sullivan in forney tim, kyren nothing feinerman and gorgeous guy adami i'm new. tess lab has been on fire the tech anything that correctly called the brakeout now says, "get out!" apple taking a big step to beef up its tv business s. this netflix's worst nightmare? gene munster says so he is here to tell you how tight

it's like a brian sullivan joke. >> my puns can easily cut the mustard a lot better than that. >> shares is have been playing catch-up since the ipo. next, we'll talk to the shake shack ceo, randy gratitudy about his plans for the company. don't go anywhere. "power lunch" is back in two. most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. i love to see businesses that just started from ground up grow into further success. it just feels good to know that i'm helping someone else. my first goal is to learn about their business, what they're currently doing in their advertising. pull some research, create a great story. trying to figure out some way of building some kind of trust in a very qui

i'm becky quick along with broin s brian sullivan and andrew ross sorkin brian, thanks for being hereoday. >> sure. >> a look at the u.s. equity futures. yesterday was a bit of a mess for the markets. this morning a rebound with green arrows the dow futures indicated up by 60 points. s&p indicated up by 8, and even the nasdaq, which saw the biggest declines, they're indicated up by 15 points. we'll keep an eye on all of this yesterday the dow was down by 00 0.8% the nasdaq down by 0.4%. overnight in asia, the nikkei ended the day down by 1% hang seng index was weaker down 0.8%. the shanghai was flat. european equities this morning, if you want to look and see what's happening in early trade, green arrows across the board. the ftse is flat the cac is up by a half percent. the dax is up by 0.2%. crude oil prices which were up once again yesterday, we've seen at least six sessions in a row of gains, up to 45.28. >> here are the big stories. good morning tesla ceo elon musk tweeting again. when asked about speculation on the release date for the model 3, musk tweeted news on sunday the mo

. >> it's brian sullivan. with all due respect, the fight we're having is odd. spending was $150 in 1960, it's $9,000 now. you've been in office since 1997. health care's been a crisis for 50 years. when do you guys sit down and address costs? why does health care cost so much in america and why do americans consume so much health care rather than us just fighting constantly about how to pay for a bill we should probably never have? >> you put your finger on one of the major drivers in terms of increased cost in health care, the cost of pharmaceuticals, the affordable care act is not deal with constraining or reducing the cost of pharmaceuticals and it should. i wish it had from the very beginning. that needs to be on the table. if you ask the american families and the insurance company executives they'll tell you this is a big driver. now let me also say to television networks like you're own, msnbc, this directed consumer advertising by pharmaceuticals companies is only allowed in two countries, maybe three now. >> you see some drug for gout, we should stop th

lets bring in right now our cnbc, brian sullivan. walk us through this. >> you got to be careful.rybody is jumping on this. anything to do with defense is an acronym. you got to be careful. it is not just you buy -- you they got this huge process, you got a letter of request, if that's accepted, ul hayou will a letter of acceptance. i understand why people say well, is that deal fake news? there is always going to be letters of intent. they don't sign contracts like we think of them if we go to buy a house or car. >> right. >> new york times on may 20th, did say a lot of it was done of the obama administration. >> so there is a deal in place that's not enacted onll of this. >> you have to ask lo lockett martin. >> mike, this looks like more hype for donald trump and more hype for donald trump's administration. the facts don't bear it out. >> clearly part of it was to enhance the results of his trips. the numbers are staggering. what's more staggering that the numbers that are announced are big numbers that the saudis still owe us for equipment. they are behind in payments like me.

brian greene. featuring jon batiste and stay human. and now, live on tape from the ed sullivanater in new york city, it's stephen colbert! ( cheers and applause ) >> stephen: wooo! hey, chris! how are you? hey, everybody! ( cheers and applause ) >> stephen: thanks, folks. welcome. thank you for that warm welcome, everybody. please, have a seat. you're too kind. ladies and gentlemen, in here, out there, all around the world, welcome to "the late show"." i'm your host, stephen colbert. you know, the senate trumpcare bill-- you heard about this they're trying to pass-- ( audience booing ). >> stephen: well, yeah, that's what i was about to talk about. they've suffered some setbacks this week because there's one major flaw to the legislation. and i don't want to get too wonky, but it's a hot pile of garbage. ( cheers and applause ) so yesterday-- boy, it's been an emotional roller coaster on the first sentence of this monologue. pace yourself. so, yesterday, senate majority leader and man trying to keep a bird from escaping his mouth ( laughter ) mitch mcconnell, announced that vot

brian hook. she introduced rex tillerson to the man would become the deputy secretary of state. john sullivanwhose nomination was confirmed last week. oliver: you probably know more about secretary tillerson than me. he seems like an old-fashioned guy who gives his trust out, not exactly hand over fist. how did she earn the trust of -- earning the trust of this man? >> peterlin was identified to help shepherd rex tillerson through the nomination process and confirmation with the senate. so she quickly gained his trust there. this was a time when she was helping him navigate his financial disclosure form. if you remember at the time, there were a lot of ethics concerns about how he would divest himself from his financial stake in exxon. she also managed how his toponse would turn out senators would go. helping arrange what's called the murder boards, the grilling he would undergo with the senate. oliver: let's talk about the crux of the story. it derives from the privacy is prized by both of these individuals. it is causing some ripples throughout the defense department. tell us what is happen

kalahari resort, the president of jacob lining crew, texas congressman brian babin is with us and ceo of harley-davidson, and dick sullivanwell. the golf business in general. a major military victory for russia claiming they may have killed isis leader baghdadi in syria one month ago. the country and therefore struck a meeting of isis leaders outside rocca, syria, the they facto capital killing baghdadi played last month. the military cannot confirm this news yet, waiting for more confirmation from the us, rocca is under attack on the ground by air by american backed kurdish and arab forces which have been closing in on the terrorist group in recent weeks. the army intelligence officer andrew peake. >> it would be. and to make concessions and other parts of the world in exchange for getting more cooperation. >> during the campaign, then candidate trump said many times russia may not be our friend but no reason we should not be working side-by-side with them against terrorism against isis. >> he took a lot of heat from the that because that was on the heels of not just russia interfering with the dnc and election hacking b

sullivan joins us. senator. >> good to see you. brian: i know you worked in the bush administration.fore 9/11 drumpled got to build up missile defense. >> right. brian: democrats saying a waste of money. now what are they saying? >> it's changing because the threat is really on our doorstep. it's no longer a matter of if but when. kim jong un is going to have the ability to range not just alaska and hawaii but the lower 48. cities like new york. so democrats now, in my bill, i have some of the most conservative republicans. republican. brian: what your bill. >> significantly advance our homeland missile defense in a number of ways. increase the number of interceptors that we have. add accelerator technology we call kill vehicles. this was a sniper shot, one on one, you technology would be a shotgun shot. and then it would include space sensors. we have liberal democrats and conservative republicans. i think there is a bipartisan consensus we need to protect the homeland now on missile defense. brian: this was unbelievably timed. you say it was from a do you t t mean the technology is

only, brian, about ten days away, the beginning of those negotiations so that really points to the importance of all of this uncertainty that we're seeing. >> there's a short fuse. andrew sullivanhas written who is to my eyes just a superb piece in new york magazine. for admittedly an american audience explaining what we've witnessed here and in the uk. i'll quote from a part of it. this week trump slumped to the lowest approval ratings of his term, in upper to mid-30s while being called liar by the former head of the fbi. and prime minister may was humiliated by the british voters in a snap election. in the wake of brexit and trump, the forces of reaction in europe have also seemed to recede. jillian, do you agree with that, we were seeing a kind of dark wave for a while. >> i think what's particularly interest is that on sunday france is going to the polls again to see whether parliament will back the election of macron earlier this year. macron is a centrist candidate. very much a globalist. he wants to forge ties with the rest of the european union. but he did that by essentially creating a new party. he essentially created this whole new movement seemingly out of nowhere.

brian wear these? >> cargo shorts, flip-flops. he's got all of them. >> i wear flip-flops. >> my husband wears flip-flops. >> i've seen your husband's feet. >>> this one really warms my heart. this is meg sullivanh her dad tom there. tom has been making her school lunches since she was a little girl, and it continued through high school. and those lunches always included two oranges, two oranges that he peeled for her. recently for meg's last day of school, her dad made her last lunch and he left her with a special note that she tweeted out. her dad said, two unpeeled oranges and directions for how to peel those oranges. there it is. he simply writes, it's time, baby girl. it was simply a bitter swesweet reminder that she would no longer need him as much when she goes off to college. it's been retweeted roughly 100 times. >> that is precious. as a daddy's girl, that melts your heart. good luck, husband. no, i'm just kidding. >>> time for pop start. >>> venus and sarlier in the we about an interview venus gave t gender of serena's baby. >> reporter: how t tv? to call me favorite it's like baby well want the baby to be nd afteruh-oh. >> don't williamsonesies just yet. i thi surprise of knowing wh