lauren: we'll get back to david nelson. connell stay with us. david this is week president will sell it to the american people. we didn't see that with health care. are you optimistic about tax reform in 2017. >> i'm not sure. given what's happened so far this year i'm really not sure. tax reform is critical. like it or not we're a 2% economy and speaker ryan hit it on the head, without tax reform, meaningful tax reform, not just a corporate tax cut, we'll not get to 3% but i don't think the market actually priced that in. if we actually get something this year the markets will push higher. lauren: that is unbelievable. without tax reform hopes we're at record stock market. >> i would love to ask, love to see on the floor right now how many dow 22,000 hats are out there. lauren: connell, 22,000 hats, have they had them made? it has been 106 days. they had time to make one. >> i see an old 20,000 hat. courtney tells me there is bag of 22,000 hats. it is america. lauren: will they be stingy give being them out at as they were with 21,000. i don't t

we will ask market strategist david nelson. u.s. stock market futures in the red. the dow pointing down below the 12-point mark. s&p nasdaq lower as well. lauren: britain's central bank meeting to talk about the economy. stocks opening to the downside are the ftse down 12 points. train to the reading discredit elon musk our company. tesla stock up 12%. we are going to play the numbers and tell you what's going on. "fbn:am" starts right now. lauren: good morning. 5:01 a.m. in new york. thank you for joining us. i am lauren simonetti. train to good morning. i'm cheryl casone. 22,000. trying to really say they are today is the question? try until a lot of breaking news to tell you about. president trump endorsing a new immigration bill that make the system more merit-based for immigrants who speak english. while the measure would mean any number of employment taste cards issued every year it would sharply reduce immigration based on family relationships. lauren: this proposal sparks a heated exchange between the policy adviser stephen miller and a cnn reporter. >> yes

david nelson, good to see you. up 182 on the dow.'ve been saying over and over again here on "the intelligence report," it is becoming very dangerous what the left is doing. they are using terms that are really some of the worst terms you could possibly use to describe anyone. calling them racist, calling them nazis. this is what they are calling members of the right now, following of course what we saw in the horrific event at charlottesville. you know what? one guy who says, enough. and that happens to be a long-time democrat who is calling his own party out right now. alan dershowitz says they have got to stop this identity politics. it is very dangerous. he is next. so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. your insu

we will ask market strategist david nelson. u.s. stock market futures in the red.ow pointing down below the 12-point mark. s&p nasdaq lower as well. lauren: britain's central bank meeting to talk abou

joining me david nelson. david, good to have you here.s like a pretty big headline, a scary one. the markets are forget about it, we'll coop moving higher and there is a mentality right now that this market is unstoppable even by north korea. >> look it, over the last five years i think investors understood geopolitical events tend toking transitory. until it turns into economic event they learned to buy the dip. that paid off in the past. it is scary headlines, i get it, until it affects earnings and prosperity of american companies -- trish: we keep moving higher. you feeling good about the future, feeling good about earnings? >> i am. coming off of that we're finishing really great quarter. , are really the key. the last time earnings were in peak, we stalled there. markets struggled next couple years. once earnings started to turn up in middle of 2016 we went i-95 north. trish: with no traffic. that is the best kind. where do we go from here? we're at 22,000. one analyst predicted on the show 22 is not the stopping point. we're lookin

david nelson joins us now, good to see you, david.yes, we can, republicans can get tax reform done, can they? >> look, the window is pretty tight. we are coming up on the 2018 election cycle and that's problematic for both the president and paul ryan. tax reform is complicated and sweeping tax reform, ie, 1980's reagan-style reform will be difficult in the window that they have left. maybe a corporate tax cut, we have a 35% marginal rate, not competitive, paul ryan is not correct, competing with the rest of the world that's 20 or even lower. lauren: big tax reform took two and a half years, this is something that's tough to do. i'm hearing a lot of noise. is there agreement among republicans on what the corporate tax would even be? >> probably not. they're probable discussing this right now, i think 15% is probably a stretch, it's probably a great bidding process that the president would like to start with but i think they would settle for 20 or 25, i think the bigger challenge is chuck schumer on the other side of the aisle and he wi

here with more how to invest in this environment, david nelson and our own lori rothman. i could have told you three years ago short retailers, some people a little late to the party. hence disappointment in the retail sector. >> surprisingly retail numbers coming out from the economy were pretty good this morning. but you're seeing pretty bad reports across the board. amazon effect is in full swing. we get that and money can be made in these sectors. it is really trading environment, if you get in right and get out right you can make some money. by and large this is sector you want to stay out of. trish: do you think people are breathing a sigh of relief that north korea feels increasingly like yesterday's problem? it hasn't gone away for sure. however we don't have quite the iminent threat that we did even 48 hours ago? >> maybe possibly. looks like kim blinked. it was pretty clear. it is uncharacteristic of him to roll back rhetoric he put out over the last couple days, but he had self-imposed deadline from mid-august to launch a strike on guam. we're on high naval aler

making announcements about it let's talk about it, bell point asset management steve strategist david nelson, from pay the yoro pa eric is with us. we've been through this before but not for a while, wilma in 05 after catarina was last major hurricane to hit this industry, a lot of oil interest here. >> i think that investors are freaking out, this could be devastating to oil. but we're not seeing it. and i think we're not seeing it because you have product levels that have been really close to what height was in 2015. so there is a glut, even if there is a hit, and hard hit it should not affect oil. on refinery side, similar story, so, you know, i think that while there is a initial concern, i think when you do the numbers, you can see that actually market saying it, that it is going down. connell: interesting your take? >> i would be careful, with a third of our refining capacity in the path of the storm, you get a disruption, you could see pullback, because, when a refinery shuts down it could take a week or three weeks before you can back fully on line. i am not concerned about price of

we have david nelson on set. you have seen the pictures. show them to viewers just of the tremendous rescue efforts of, for sure going on. that is wonderful, very heartening to see. but from an economic standpoint right now, as we look at oil prices, we look at the stock prices of some of these refineries, how big of a hit is this to the industry? >> you know, certainly in the short run it is a hit. like you said in the lead-in coming in. 16 percent of our refining capacity is shut in. we know that going in because the path of this storm would possibly affect 1/3 of the industry. i jotted down some numbers. over 20% of our oil an natural gas production, that was shut down as workers were taken off the rigs. in terms of the overall economy, obviously it starts off at the regional level. but when you shut down shipping, rail, 1400 flights shut down at houston airport alone, it starts to trickle out to the whole economist. you can expect a retraction, nothing like katrina, but it will be a bump. trish: some would think there is rebuilding effo

cnbc scoops along the way and new revelations about a dinner, for instance, between the ceo david taylor and nelsoneltz all sorts of conversations between peltz and the board members and outlined a friendly and constructive dialogue between the company and between this investor which ultimately is resulting in a nat ot so friendly fight over peltz's bid to joint board further escalation here. they feel like they have an argument they lay out more specifics one of the advisors is a former cfo that hasn't been at the company for more than a decade peltz can combat this in a white pape cher he paper which he is prone to do. this whole idea that he's not offering increment alval advices going to be the question with the stock underperforming. yes, a lot of analysts are aplaugd the recent earnings release. there is plenty to pick through there like the fact it was built on cutting sg & a cost and advertising, digital advertising. something that a lot of people think is a no-no for consumer companies and lots of other ways to pick it apart so this continues and it's heading for a vote on october 10th cle

david mckenzie. this could be huge for the party of nelson mandela.d. >> unfortunately i think we are not able -- [ inaudible ] can we hear him? go ahead. go ahead. >> reporter: if you can hear me, the group of protesters that is coming toward parliament. the vote of no confidence is happening later in parliament. for the president of the country, jacob zuma -- [ inaudible ] pretty loud here. behind here, thousands of protesters are moving on to parliament. if he gets voted out, he could lose the presidency later today. there could be a -- the dissolving of the -- [ inaudible ] thousands of protesters from both sides moving on to a confined space. a heavy police presence here in cape town outside parliament. there's going to be an intense debate in parliament later and possibly a new president later today in south africa. miguel? >> this is amazing -- we will let you go. i know you're having audio issues. amazing reporting you are doing. it is interesting that this is the first time it's been a secret ballot for south africans for the parliament. fasc

david schuman has the details. ánats of gunshotsánats: "shots fired, i've been hit. shots fired, i've been hit."the body cam video is nothing short of intense.officer richard nelsonaway from this gun battle with a bullet in the chest.miguel salas, the man in the truck, got one in the head -- and did not survive.we're told nelson is now home from the hospital doing "extremely well".tom roberts/las vegas metropolitan police department: "it's been a tough month for us. we had quite a few officer involved shootings over this last month. everyone of those involved somebody or a suspect trying to harm us or harm our officers."this all started when metro says officer nelson and his partner approached salas in a pickup truck because a stolen cell phone had been tracked there. this newly released body cam footage shows several minutes of them negotiating with salas, trying to get him out of the vehicle that officers say was stolen.in an instant, salas pulls a gun and starts firing.police say the man was 25 years old with a criminal history and had a second loaded gun in the truck.even for seasoned officers, watching a video like this is never easy. (anny) the assistant sh

david schuman explains.... ánats of gunshotsánats: "shots fired, i've been hit. shots fired, i've been hit."the body cam video is nothing short of intense.officer richard nelsonlked away from this gun battle with a bullet in the chest.miguel salas, the man in the truck, got one in the head -- and did not survive.we're told nelson is now home from the hospital doing "extremely well".tom roberts/las vegas metropolitan police department: "it's been a tough month for us. we had quite a few officer involved shootings over this last month. everyone of those involved somebody or a suspect trying to harm us or harm our officers."this all started when metro says officer nelson and his partner approached salas in a pickup truck because a stolen cell phone had been tracked there. this newly released body cam footage shows several minutes of them negotiating with salas, trying to get him out of the vehicle that officers say was stolen.in an instant, salas pulls a gun and starts firing.police say the man was 25 years old with a criminal history and had a second loaded gun in the truck.even for seasoned officers, watching a video like this is never easy. (justine) the assi

it has underperformed as nelson says over the last ten years and he points to that underperformance versus the vector and the market. though under daviderformed so -- >> you hit that. right? $30 billion companies are not easy to muscle around. it's a proud company with a relatively new ceo. you can just say no. >> it's a proud board, too >> however, you could also point out and i want to get the other story here, his argument is that this is too much of a closed community. everybody at the company has been there forever and they're all talking to each other to solve their problems they need some outside blood and they're not accepting that >> and the company would respond they have been addressing this and david taylor has been addressing the cultural issues, bringing in some outsiders on management for changing the whole compensation structure and a the way companies report up to management, so this is going to be a bottle. clearly, we'll wait to see what they release next. >> next up, sprint popping more than 10% today after the ceo said a merger would be announce ed in the future the two potential partner, t mobile and charter thin

david mueller was suing the three... saying allegations that he groped swift were false and cost him his job. swift has counter-sued mueller for alleged assault and battery. (mark) willie nelson will be back "on the road again" soon. the legendary singer- songwriter had to cut his salt lake city show early. the 84-year-old says he had breathing issues yesterday. nelson later tweeted an apology, saying "the altitude got to me and i am feeling better now and headed for lower ground." his latest album "god's problem child" was released in may and became his 17th chart-topper on billboard top country albums chart. (james) the hackers who broke into h-b-o's computer network have released more episodes that have never been seen before. several episodes for the upcoming season of "curb your enthusiasm" have been released. the episodes were scheduled to debut in october. the show "ballers" also had some episodes released. hbo shows that haven't aired yet like "the deuce" and "barry" were also impacted. the hackers did not release any episodes of hbo's hit maker "game of thrones." (james) gas prices continue to rise across the nation. the average price for a gallon of gas jumped eight