. >> i'm going to be looking at my my stub, eamon.e a look. take a look, thanks a lot. eamon also telling us what the sandy relief bill has just uncovered about the state of big government. we'll be back with that next. >>> plus, social media stocks on a roll. ahead of facebook's report next week. is it a good time for you to log? >>> how am i ever going to wake up in the morning? >> rise and shine. >> sullivan. >> wake up. >> 6:00 a.m. >> futures are up. >> buy, buy, buy. it's go time. >> this is the voice of cnbc. >> realtime updates on the markets, news, weather. wake up with the cnbc alarm clock app, free on the app store. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. [ male announcer ] save on ground shipping you know it can be hard t

eamon javers is on capitol hill. given what we went through with the last congress, is there any optimism that the new group coming in will get something done? >> no. i hate to be a cynic. >> okay, thank you, eamon. >> i hate to be a cynic. but there are a lot of bruised egos. there is a clans for a real optimism and real energy but these guys have been through a tough week now. we have a bunch of new members and as you can see, the vote for the house speaker is ongoing. tallying up the votes on democratic and republican side. we don't expect a significant challenge to speaker john republicans.he you will see democrats here voting for pelosi. republicans voting for boehner. boehner should win this thing but there have been a couple 1s and 2s of republicans voting for someone else other than speaker john boehner, including one vote for collin powell. and you don't have to be a member of congress to be elected but that said, even though some of those republicans have broken away from boehner in the course of this vote

come on, eamon fess up. i know what you've been up to. you'd better come inside. her real name's finnoula. so quigley's rigged this beauty contest? he says she'll win because she's more glamorous than any of the girls around here. i might have known that sleazebucket was up to no good. fair play to him, siobhan. he didn't force me into it. he didn't have to. he knew you were short of cash. promise me you won't say anything. please, siobhan. you've got some good music here... for an old fella. i've always been something of a musical trendsetter. i was the first kid in my hometown to buy a bay city rollers record. and this was the first album i ever bought. i was only ten. brilliant... they don't make them like this anymore. i'd love to have been a musician but i've no real talent for it. do you play? would it be stuck up there on the wall if i did? could i have a look? well -- i won't nick it, if that's what you're worried about. it was a birthday present from my parents. they were hoping i'd turn out to be a musical genius but it's been hanging on the walls ever s

eamon javers of cnbc, and mike viqueira of nbc. >> award-winning reporting and analysis, covering history as it happens. live from our nation's capital, this is "washington week" with gwen ifill. corporate funding for "washington week" is provided by -- >> this rock has never stood still. since 1875 we've been there for our clients through good times and bad. when their needs changed, we were there to meet them. through the years, from insurance to investment management. from real estate to retirement so s,evtiedve dopel new op ideas for the financial challenges ahead. this rock has never stood still that's one thing that will

eamon, the president knows it's not going to be easy. what are the chances any of these proposals get through congress? >> reporter: well, scott, these were solemn and somber remarks from the president here as you saw, surrounded by some of the families of those affected by gun violence. but also as you say, leaven with a doze of political reality here. a lot of those here in washington think a renewal of the assault weapons ban is dead on arrival in the house of representatives. not something likely to pass. a lot of these other things the president can accomplish. as you saw there, sitting down to sign some executive actions directing the federal government to take steps immediately. the president can do that without congress's approval as he's doing today. so the white house emphasizing in a background call with reporters earlier today that a lot of this will actually go into effect today. the rest of it is going to be a big political battle up on capitol hill. as we saw, this battle is personal. the nra yesterday releasing an ad whic

eamon jappl eamon javers and john harwood. but first, sue at the stock exchange. hi, sue. >> hi. we are not quite making history yet but there is a lost optimism as i talk to the guys on the floor. we're not that far off from historic highs. 90 minutes ago, the dow crossing the 2007 high which was 13,780. right now the dow jones up 68 points at 13,781. the all-time high for the dow, 14,198. about 400 points away from that high water mark set in october of '07. so far this year, the dow is up 5% and that's only really about 14 trading days. turning to the s&p, more than 4% higher this year as well. that indaeks now just, give or take, about 75 point from its all-time high of 1565 which was also set in october of 2009. so there's pretty good mood down here on the floor, ty? >> thank you very much, sue. let's get back to the breaking news in washington. a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vo

eamon javers is on capitol hill to explain it all to us. hi, eamon. >> hi, tyler. this is a bit of a nasty political fight. the senate is expected to take up the $9 billion traunch you just mentioned that came over from the house earlier today. then we go to january 15, where the house of representatives will do a bit after legislative shuffle and two-step while putting together a bill that has $17 billion base component to it. and an amendment to it that totals about $33 billion. that will come out of the appropriations committee. that will all be for near term and long-term sandy relief. they will send that over to the senate where it's unclear what will happen. the senate could amend it. could pass it or send it back to the house for conference committee vote. entirely unclear what the politics of that will be. a lot of folks are upset with the new spending and they are pla areally upset with what they saw in the original senate bill in the last congress ending earlier this week which had spending they thought was unrelated. take a look what the was in that bill

thank you, eamon. after the break, we will go back 20u9 san diego where there are three things that need to happen right now to get our economy in full gear. then herb is all hopped up over a hot new etf. he actually likes something. he is like miky from the life serial commercial. we will find out why next when shines returns. ... would define you as a true leader. ♪ to hold over 80,000... well, that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. for exceptional offers all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. i took something for my sinuses, but i s

eamon javers live at the white house. eamon? >> there are some that biden himself might not participate in. we just heard from the vice prest as he emerged from his first meeting of the day and he gives us a sense of how fast this process is moving along. >> there is no conclusion that i've reached and with my colleagues, i'm putting together a series of recommendations for the president that he will take a look at and a very tight window to do this. i committed to him i would have his recommendations to him by tuesday. >> a couple of other groups invited to the white house complex. including retailers. the biggest on that list wal-mart. but also look at others who will be here, including air cad my sports and outdoors. bass pro shops, cabela's, dick's sporting goods, and gander mountain. other sm of the folks there, brandon entertainment llc. cam cost corporation, a parent of this network. motion picture association of america and a few others there as well to talk about violence in the culture. so tyler, clearly, a very busy d

many thanks, eamon javers.ring in our panel, democratic strategist, jennifer ruben, author of the "washington post" right turn blog. i've got to start with my paul jennifer ruben. because if i start with lars, he's going to literally cut my head off. he's going to take my head off. now, look, i have said i am totally against the jack lew nomination for treasury secretary. but regarding these gun issues, jen, so far, i haven't heard anything that's so bad. in fact, from what i gather, they're going to reinstitute the ban on assault weapons that was law for ten years. what's wrong with that? >> well, on one hand, the good news is that the vice president did not mention the assault ban weapon. he talked about high capacity magazines and talked about this background check. so on one hand, maybe there's playing some small ball. the bad news is that he's not really proposing anything that might actually work. i don't have any problem, larry, like you, with either one of these provisions. i'm a second amendment suppor

eamon javers has been doing the math on the back of the envelope. eamon? >> reporter: hi, bill.ell, let's talk about two of the hidden tax increases in this deal it a are going to hit people who make over $250,000. limits on deductions and limits on personal exemptions. there's something called a personal exemption phase out in this law which limits your ability to take tax exemptions such as your kids. those are almost entirely phased out by $500,000 worth of income, and then there's something known as pease which is named after the congressman who invented it, a cap on your deductions for over 250,000, so that they don't have so many deductions they escape tax liability all together. if you make $300,000 a year, you're 50,000 over the threshold and a formula is applied to all of the deductions. in this case you have to subtract about 1,500 bucks off your itemized deduction tote a. that's an across-the-board haircut on deductions so it's going to impact everything you typically deduct, like your mortgage or charitable giving or anything. both of these new taxes hit people well

let's bring in eamon javers. eamon? >> we will keep going over the cliff, mandy. the patch work that john just outlined, what they did on the sequester side, those are the big spending cuts that were supposed to kick in and that was put off by two months. we will see another big fight over spending at some point in early march, late february timeframe and same exact time you will see a whole big fight over the debt ceiling. treasury secretary has said that we have hit the debt ceiling but put in place what they are calling extraordinary measures to push that off as long as possible. that can go possibly about two months as well. that puts us into early march. at the end of march, you looking at a fight over the continuing resolution, which is the piece of resolution that funds the operation of the u.s. government. that is coming due again. a fight that could threaten a government shut down. so uch got a whole series of battles coming up in march and we will start fighting today on those and we have seen some fighting today over this hurricane sandy relief bill. so

it took a few hours, as eamon aves source shows, but look at the final rote. a third of them voting for it, still 2/3 against it, for for them to allow, to go other -- along with the idea that this was going to be put on the floor to begin with, i think that's something. >> we've created a culture now where the only way washington ever really moves is on a brinksmanship disaster. it has to be a default, a shutdown, or a fiscal cliff -- >> the very last second. >> right. there are so many problems that they can't solve and we've created a place now where even -- even newtown was what it took to start talking about gun egsslegs. it has to be either reactionary or a crisis. gwen: newtown is what got the republicans back to the table before. >> we're at a place where it's now difficult for congressional to pass things like transportation bills which used to be very easy to pass the gwen: farm bill? >> farm bill, another great example. a lot of this was extensions of current laws. they didn't reinvent the wheels in this. it was keeping everything the same. gwen: yo

let us get to eamon jafers for more on the president's plan and eamon, it appears that, you know, alllaw abiding citizens rushing out to buy guns. >> yeah. brian. one of the interesting counter intuitive impacts might be for the stores that sell guns that do background checks as they close the gun show loopholes. some of those retailers might see a benefit as more of the gun buying public goes to them. it was a solemn ceremony here at the wlous. president and vice president were surrounded by families and victims of recent gun massacres. president and his aids saying that the gun proposals come in four broad categories. let me give those to you. first one is closing background check loop holes. couple of measures to do that. and also high capacity magazines. a couple of proposals centered around the idea of making schools safer including more cops on the street and police officers to the school systems themselves and also increasing access to meant ol health services. now the president said, he realizes this won't be an easy sell on capitol hill. >> this will be difficult. there will

eamon javers has details on that. eamon? >> hi, bill, well, a group of lawmakers from new york and new jersey just coming before cameras here within the past couple of minutes to announce that speaker boehner has relented on the sandy aid funding, at least in part agreeing to a deal. according to new york congressman pete king. that would provide $9 billion in aid as early as this friday, and then they would agree on an additional up to 51 billion later on during the course of the month of january. obviously this has been a very contentious fight. we saw a very angry new jersey governor chris christie in the 2:00 hour holding a news conference, denouncing republicans in the house of representatives, but these republicans in the house today saying that they now have a deal and they seem fairly pleased. peter king saying he would in fact vote for boehner for speaker, despite some very heated criticism of his own of speaker boehner earlier today. guys, it looks like this hurricane sandy relief fight is over, at least for now. >

we start with eamon javers in washington. eamon? >> hi, sue. call this one the tax cut that no one in washington liked. the payroll tax cut, designed to be a temporary stimulus measure and republicans and democrat banded together here in washington it let that expire at the end of last year. what that means is with the first paychecks of the new year, a lot of folks are looking at their paycheck on the line that says fica taxes. they haven't seen amounts like that for two years taken out of checks. how big of a bite is this new tax increase to folks? let's take a look at tax payer who makes about $100,000 and walk through the gross. back in 2012 and 2013 pch you see the gross numbers on a paycheck. social security in in 2012 would have been $161.54. now this month, there are 238.46. that works out to $1999.92 over the course of a year for a person making a hundred thousand dollars a year. at $200,000 a year, the bite gets a little bit steeper. works out to about $2,425. but this is a weird one because this tax works the opposite of many other t

nbc's eamon movie dean has been in the thick of it. including the tear gas used to disperse the crowds. and while we have a shaky satellite signal, he is there, nonetheless. eamon, good evening. >> reporter: good evening, brian. the temperatures have dropped. it's nighttime here, and so have the number of protesters in tahrir square where it is calming this evening after a very intense day of clashes, not too far away from the iconic birthplace of the egyptian revolution. where we are here in cairo, and in other cities, police have been clashing with protesters. many of them angry at the slow pace of transition to democracy under the leadership of mohamed morsi and his muslim brotherhood party. they say they have taken over the country and divided it. you were here two years ago. you saw the unity egyptians had during those 18 days that toppled the former dictator who is any mubarak the. many demand the revolution continue. they say it has been thwarted by the islamists and that's why they're taking back to the streets. the clashes hav

eamon? >> that's right.nt to appear on television and have asked us if they could come onto the cameras live. we're saying no for the time being for those good folks who do want to be on television. we were talking about the vendors earlier. a lot of the vendors were saying they were not going to make out as well as they hoped, but just looking at this crowd coming out here, i do think those vendors did sell some products because just about every group coming out, somebody is wearing an obama hat, a scarf, a picture, a calendar. some of those vendors must have made money today, tyler. >> don, when you were in bill clinton's white house, you had to deal with newt gingrich's republican revolution taking over the hill. two years ago was the tea party mid-term election. the tea party was in his way the first two years, in his face the last two. where are they now? >> i think probably still strong, below the surface, but i think if we think about what's happened inside the house republican caucus, it's clear that

cnbc's own eamon javers joins us now with the details. good evening, eamon. >> well, we've almost gotten out of practice at watching bipartisan groups of senators hold press conferences here in washington. that's not something we're used to seeing. in recent months, anyway. but the senators laid out why they think is so important and what the time line is for this bill to pass. maybe as early as this summer. take a listen. >> it's our hope that these principles can be turned into legislation by march and have a mark-up by chairman leahy's committee with the goal of passage out of the senate by late spring or summer. >> i am clearly new to this issue in terms of the senate. i'm not new to it in terms of my life. i live surrounded by immigrants, my neighbors are immigrants, my family's immigrants, married into a family of immigrants. i see immigration every single day, the good of immigration, how important it is to our future. >> so the senators laid out what they call four pillars for a deal on immigration including a tough but fair path

eamon javers at the white house with the story. over to you, eamon. >> reporter: an emotional ceremony here at the white house when the president unveiled a range of ideas to combat gun violence in the united states, including a new assault weapons ban, limit on the size of magazine clips, enforced measures for background checks and increased access to mental health in this country, and the president said that lawmakers on capitol hill are going to be facing a dramatic choice. >> what's more important? doing whatever it takes to get an "a" grade from the gun lobby that funds their campaigns or giving parents some peace of mind when they drop their child off for first grade? >> now, the nra itself putting out a statement this afternoon saying attacking firearms and ignoring children is not a solution to the crisis we face as a nation. only honest law-abiding gun owners will be affected, and our children will remain vulnerable to the inevitability of more tragedies. so, maria, we're setting up here for an intense political fight up o

eamon javers is here to explain some more of that. eamon. >> hi, bill.et me walk you through what happens if we actually have a situation where the united states congress refuses to pass an extension to the debt ceiling. if that happens, the united states can't add any new debt, cannot continue to borrow, so what would you have to do if you're the united states government? you'd have to live off of your tax receipts. take a look here at some of the charts that we've prepared, and can you see exactly how much money the u.s. government brings in every month. it's about $206 billion in receipts every month. that's the whole amount of money the u.s. government would have to finance its operations so how does that break out? what are the expenses on a monthly basis? we'll start with the absolute must-dos. interest on the debt, $29 billion a month. got to pay that. social security, got to pay that. 65 billion, medicare about 42 billion. veterans will b $11 billion. income security programs. that's about $46 billion in expenses every month and also military sal

want to get to eamon javers. he has breaking news, and i want to get your take on it. >> reporter: a new letter now to barack obama, president barack obama from four key democratic senators here urging the president not to negotiate with republicans over raising the nation's debt ceiling, but take a listen to how they express this. they say we believe you must be willing to take any lawful steps to ensure that america does not break its promises and trigger a global economic crisis without congressional approval, if necessary. high ranking democratic senators signing this including harry reid, dick durbin, chuck schumer and patty murray so there the democrats seem to be signaling to the president and shoring up his left flank that they are willing for him to take extraordinary measures to avoid breaking through the debt ceiling, that is, if republicans don't agree to raise the debt ceiling. they would like the president to do almost anything he can, including what -- apparently what they call the constitutional o

eamon javers there.oadblock, a new study shows 3.5 million jobs are wiped out and over $3 trillion in economic output us gone if we fail to fix the nation's aging infrastructure. of course, fixing things won't be cheap. we'll debate the issue facing every american next and rich americans may boost charitable giving in the boost of higher taxes. more of what's behind this counterintuitive position. i'll talk about a california startup next. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. [ cows moo ] [ sizzling

eamon javers joins us with the details.ening, eamon. >> the white house suggests it could use an executive order to move gun control legislation reform forward here in washington, d.c. and also today, the vice president met at the white house with gun control advocates, some of whom shared their personal and emotional stories. >> my name is annette nance and my 16-year-old son blair holt was killed in chicago in 2007. >> i witnessed my mother and 12-year-old brother shot and killed in our living room and the next day witnessed my grandfather shoot the next door neighborhood. >> i'm collin goddard, i was shot four times. >> and even before the meeting with those folks, the vice president suggested that the administration is determined to act. >> every once in a while, there's something in the wake of the conscience of the country. and that tragic event like nothing i've seen in my career. so we're here today to deal with a problem that requires immediate action. >> and meanwhile, the state of new york could be moving ahead w

thank you for much, eamon javers.a now. >> we've got earnings out from ibm where their earnings, fire. they saw stronger earnings than expected. their outlook for 2013 and the first quarter that is disappointing the street. they are projecting 14% to 16% growth for 2013. but the street was looking for about 18% growth for the year. that conference call going at around 5:00. back to you. >> all right, bertha. thank you very much. bertha coombs. >>> talking to one of new york city's most exclusive real estate agents next along with our wealth editor robert frank. plus an exclusive look at some of the city's most expensive apartments. >>> later on, earnings on parade. first thing tomorrow morning. we'll tell you which could catapult to new heights. back in a moment. obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for thei

eamon jafers, the idea is to buy more time to get a budget deal right. >> that's exactly right, mandy the end, the final vote was, 285 to 144 so the measure does pass and what it does is two things. you are right, it buys time, kicks the debt ceiling back into may 19. that point they could borrow as much money as they like up to that point. after that they will reimpose a debt ceiling, they say. and suspect the pay of members of congress if their chamber of commerce hasn't agreed. politically wloo what it does is puts the debt ceiling fight down the list of political fights that are upcoming and it brings up the fight over sequestering. remember from the fiscal cliff. pe just kicked the sequestering back to the giping of march and political battle over spending cuts is something the republicans would much rather have as opposed to a fight over potential default on u.s. obligations in which they can be po portrayed as reckless. republicans liked it and voted for it but in the end the wlous says, it will sign the bill of the white house press secretary jay carney said it is not entirely

marking the broadest push for gun control in a generation we have cnbc eamon javers who is here to join us with the details. >> reporter: it was an emotional event over at the white house. the president flanked by small children announcing his proposals on gun violence announcing a new assault weapons ban, limits on magazine sizes, enhanced background checks and access to mental health. the president said however that lawmakers up on capitol hill have a stark choice to make. >> what's more important? doing whatever it takes to get an a grade from the gun lobby that funds their campaigns, or giving parents some piece of mind when they drop their child off for first grade. >> reporter: the gun lobby in the form of the national rifle association reacted today saying attacking firearms and igdmoirj is not a solution to the crisis we face as a nation. only honest, law-abiding gun owners will be affected and our children will remain vulnerable to the ineactivitiability of more tragedy. a lot of these proposals that the president put out were greeted with lukewarm response. john boehner's spok

there is still ear marks like what eamon javersed a earlier. >> that's not true.this bill, some of the items were stripped out of the house bill. and the speaker, i give great praise to my colleagues on the other side of the aisle, michael and peter cane. and working with governor christie and governor cuomo. a lot of items talked about in the senate bill were stripped out and never in the house bill. >> congressman meeks, if i could ask a question, i would like to get this answered. because club for growth and other conservative groups say the federal government shouldn't be in the flood insurance business in the first place. that is better left to the private sector. why is this appropriate federal business? why should the federal government be issuing flood insurance at all. >> well, no one was giving flood insurance. we have individuals and flood assistance we today cover. americans still pay into it. they pay a premium and the government helps. this is what public government does. when americans are in trouble, a disaster, a storm, the government helps get th

nbc's eamon is live. >> reporter: good morning, richard.rt while ago egypt's upper house of parliament approved a motion that gives the egyptian military the authority of arrest civilians. now, this comes a day after egypt's president issued a very stern warning in the face of five days of deadly protests in which he declared a state of emergency in three major cities along the suez canal and also imposed a curfew. as you mentioned more than 50 people have been killed in these riots that are taking place. many of the protesters angry at president mohamed morsi. they want a new constitution and they want some of the promises of the revolution to be delivered upon. that has not yet happened. the leading members of the country's political opposition, too, have also rejected any efforts by the president for negotiations. so it is an extremely polarized day here in egypt, richard. >> eamon, you bring that up. it's been two years since the massive tahrir square uprising. watchers as well, citizens there in egypt wondering how far away they are fr

. >> eamon, thank you for that. and dr.me similar things, but in terms of what can be done, what is your guess here? >> well, there is, of course, things that can respond in a nano-second or in that thousandth of millionth of a second, to information that comes oun news tape and that's why they sync this them up to an atomic clock to make it fair. though you and i can't react to it as fast, at least if it came out precisely 10:30 areastern time, that would be one thing. this came out 400 milliseconds or 500 milliseconds before that, that these trades, so, obviously, they learned of it just before that. we tracked about 340,000 shares, about 700 trades, roughly, melissa, that hit in the ung contract. and whether they were, like eamon said, cutting losses or not incurring as much loss or if they short them and bought them back, i can't tell. but this is something that should be investigated. >> all right. let's move on to whirlpool. reporting better than expected earnings today. the stock is up more than 107% over the past ye

eamon javers has the details. >> reporter: hi, scott.expected price hikes could be causing headaches for some unions in terms of the president's new health care law and the price they have to pay for health care for their union members. this was reported by the "wall street journal" this morning, and it affects 20 million americans who benefit from these plans run jointly by unions and the employers for small business employees. the health law eliminates caps on medical benefits and prescription drugs, and it allows children to stay on their parents' plans until the age of 26. now the "wall street journal" reported that's going to drive up costs for people participating in the plans so the unions want low-paid workers to be able to be eligible for federal subsidies as a result of that. the obama administration told "the journal" this morning that the regulations are still being written. scott, this one is one of those issues that is still being sorted out in the regulatory process, and we'll see where it all shakes out. a lot of unions t

thank you, eamon. let's get to our two special guests to kick this around. i say happy new year to both of you, gentlemen. my old friend charlie wrangle, it looks like peter king prevailed. $9 billion in flood insurance this friday and another $51 billion in relief the following friday, which gets you to the $60 billion in the senate. is this battle over and won, charlie? >> as far as i am concerned, i think it was a good day for the congress, peter king and so many other republicans that don't normally find this coalition with democrats did come together. as we said, it's for the tens of thousands of people that are suffering as americans. and we didn't do it in a nice way, but we did come together and we're moving forward, and as far as what happens to boehner, he's been beaten up enough on by his own team, so i don't have a dog in that fight. >> all right. let me just ask you, we are basically bankrupt. we're borrowing over a trillion dollars a year. yes, we are compassionate. yeah, i want to see all these victims in staten island and new jersey and new y

thanks, eamon. putting the controversy aside. should you buy walmart stock here?alking money over the fundamentals and technical. j.c. o'hara and zachary carabela. j.c., what does the chart of walmart look like you to? >> i don't like the charts, another 10%, to 11% downside risk before it looks attractive. what's the technical story? well, if you look at a longer term chart of walmart it's a blue chip megacap stock that's slow moving, and then comes 2012 and all of a sudden the stock price rallied up to 75. and this is one of those examples of a stock that moved too far too fast. the larger the pop, the farther the drop, and right now with the rounding top running out of gas at 75, i'm looking at 62 on my chart as a downside level before walmart begins to lock attractive to me. >> j.c., you're a seller. zach, what do you say? >> a $6 drop on a $6 tock, maybe it's 10, maybe it's 9 or 11. from my perspective it could fall 10%, so the question is you can't own anything in every portfolio so you've got to own some things. i don't think walmart is ever going to hurt a

eamon, thanks very much. let's bring in cnbc contributor keith boykin. kathryn mangy ward, manager editor for reason magazine. jim pethakukas, let me go to you first. this sounds like a bunch of democrats saying we don't want any spending cuts, entitlement cuts, nothing. just pass the debt ceiling. no spending. >> do whatever it takes. apparently the hurdle is some legality. not whether it's a good idea, not whether it calls into question the independence of the central bank, the independence of whether the treasury will now have the new power to print money whatever it has. as long as it's legal. let me tell you. of all these options, the magic coin option, the 14th amendment may be the worst option. it will be challenged in court. the court moves forward. you end up with two classes of u.s. debt, one which people have a lot of confidence in, then this different class of debt which was created under this who knows what new legal authority that they found. >> this is the point. let me go right. the i.o.u. this is interesting. edward klinebard, former chi

eamon, thank you. the federal withholding went down by $4. >> that saves you a little bit of money, right? that's the cup of coffee you get while you're getting that tank of gas. >> although i have to say, anybody who is complaining about this so-called tax hike, that was always supposed to be a temporary tax cut. if we want to fund social security and you want to make sure you still have the benefits there, these are the type of things we need to get used to. >> that's why both democrats and republicans agreed that that was a tax cut that should go away this year. neither party loved that thing. it was temporary. and now it's gone. >> i don't even count it as a tax hike honestly. this is just the return to normal. >> right. depends if you're grover norquist or not. any time taxes go up anywhere, in washington they're saying that's just a tax hike no matter what. >> we've got somebody here who is going to talk a lot more about this. david walker is signature on set. eamon, thank you. people are going t

eamon javers, thank you very much. >>> we've got about nine minutes to go before the closing bell.bit below water there. down about 45 points right now. down 1/3 of a percent as we get ready to close. >>> navigating the e next couple of months from the looming debt ceiling and problems in the middle east, the global watcher is with me to tell you what he thinks is the biggest risk to your money in 2012. stay with us later on. >>> but first notre dame and alabama set to kick it off at the national championship game tonight. both schools will rake in the cash. but the players won't see a dime of it. that could soon change, however. details when we come back. policewoman ake 70,0 trades a . ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. i had[ designer ]eeling enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically

our own eamon javers joins us from d.c. a number of areas of interest here. a meeting with vice president biden after all the doing and froing. >> yesterday there was a lot of confusion about the walmart meeting it. initially walmart said it was not going to send anybody. and then walmart confirmed that they would take part in the biden-led talks taking place here in the white house complex. what we learned this morning is they're not actually scheduled to meet with vice president biden himself. instead walmart will be taking part in a meeting at 3:45 this afternoon with the attorney general eric holder. always possible of course because the executive office building where that meeting will take place is right nest to the white house where i'm standing, always possible vice president biden could just drop by that meeting unofficially, but he's not actually scheduled as of right now to meet with walmart and it's a big day here in terms of guns and violence in the country. the vice president will start off the day at 11:45 with a meeting. he's also got another

. >>> for more on the vote, let's bring in eamon javers. will this pass? >> it's expected to pass.s on suspension. in house lingo, that means they need two thirds of the votes in the chamber in order to pass this bill. we saw this political firestorm earlier in the week with chris yiie. a number of republican lawmakers had a near mutiny against speaker boehner, who did not bring this measure up for sandy aid at the waning minutes of the 112th congress. he punted it until today. now they're getting this down payment on about $9 billion for the national flood insurance program and the speaker has promised an up or down vote on or about january 15th for an additional $51 billion, so this is expected to pass. that sets up another big fight for spending later in the month. >> why do they have to wait another ten days for the rest of the money. why does the vote have to take stephen more days? >> well, this is the political agreement that's been set up between conservatives in the house who adopt like this bill. they would like to see this offset by spending cuts. a group called the club

eamon javers live in d.c.. >> we just got a lurching from calamity to calamity here in washington. take a look at what people are calling march madness. i prefer to call the ides of march because it's more high pha fluting. you see that we've got a debt ceiling fight. treasury department says they can go another maybe two months. that puts us into march on the debt ceiling. they didn't totally deal with the sequester. they kicked it down the road for another two months so there's going to be a fight over that. maybe at the same time as the debt ceiling. that's going to feel like the fiscal cliff all over again. then you've got to continuing e resolution. the spending measure that funds the government. that will expire, so we will have a fight about a potential government shutdown at the end of march. so the beginning and end of march are going to be really dicey here in washington and this is not over yet. the fiscal cliff deal, a little process, the president hasn't signed that yet. he left for hawaii last ni

>> eamon javers. thank you. now breaking news on herbalife. >> this saga keeps going on and going on. this morning we told you about dan lobe of third point partners took 8.2%. he filed but took 8.2% stake in herbalife. he had a tremendous year. what is interesting, is he and ackman, the stock short to the equivalent of 25% of the companies shares are allegedly friends. today bill ackman came out with a statement with the stock saying our goal was to shine a spotlight on the company so that the world better understands the facts about herbalife. the outcome of this investment is not about purchasing square or anyone else longer short the stock. to the extent another investor, long or short, brings additional light to the situation, we welcome them. he has facts about herbalife. to send them there and learn more about his presentation. his three-hour presentation. by the way, remember rb herbalife will present in new york two analysts. >> thank you so much. >>> the director of floor operationes with o'neill secur

over to eamon javers. over to you. >> hi, maria. we've got a new letter here from tim geithner.peaker of the house john boehner. along the points that john was just making in terms of the debt ceiling. the treasury secretary now saying he expects to exhaust the extraordinary measures used to fund the government now between mid-february and early march of this year. a bit of clarity on the time frame. treasury secretary coming down pretty hard here on what the effects would be of not raising the debt ceiling saying even a temporary default with a brief interruption in payments that congress restores would be terribly damaging. calling into question the willingness of congress to uphold america's long-standing commitment to meet obligations of the nation in full and on time. default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way t

joining me now with details, cnbc's eamon javers. i went on social media and couldn't believe how many people are talking about this. sticker shock and ticked a few folks off. >> yeah. absolutely. tamron, it can be a real mit to the wallet. the temporary payroll tax cut as you say enacted under president obama died at the end of 2012 which means that everyone in the country sees a bigger tax wyatt out of the paychecks this year. take a look at these numbers. for a single person making $60,000 a year paid biweekly, gross income in a paycheck is $2,307.69. subtract federal withholding taxes, medicare and state taxes and then look at fica. that's the fee to help pay for social security. this person would have paid $96.93 in december. but now look at that same person's new paycheck in january. gross pay the same and the medicare and state taxes but fica taxes up to $143.08. that's a hit to the wag let, grocery money or a tank of gas every two weeks, real money for real people in this tough economy. >> to your point, real money to real pe

you all right there, eamon? grand, thanks. good man. i'm not staying, brian. no?nder where i'd got to. ah. what did you think i'd joined the nuns? s'pose not. you have a family? yeah. three young men. that's great. full-time job, i'd say. no. i have one of those too. good morning ambrose. morning, father. beautiful day. that's assumpta's van. i believe so. she was a great comfort to niamh when she needed it. well, sure. there's good in everyone; isn't that right, father? well, professor... is there a lesson in all this? it's too late for the learning wouldn't you say? anyway, i don't teach these days. oh. what do you do? well, at the minute i'm heading up a research project for the european union. go away. fascinating. we can use the money. and what is it? well, it's monitoring the output from a satellite. i mean, you'd probably call it counting sheep. what? nothing. it's just... exactly as i remember it. peaceful. still. you did what? hang on, it was his decision. which he hardly took alone! you know how rare vocations are these days! father, ambrose isn't a prie

eamon javers on it.ver to you. >> as expected, the united states senate has just voted to extend the nation's debt ceiling for multiple months. the new deadline now will be may 19th, and that tees up now the next fiscal fight here in washington which will come on march the 1st. it will be over the so-called sequester. all of those automatic spending cuts, will they be allowed to go into effect? that will now be the next big question we wrestle with here in washington, maria. >> thanks so much. >> january jobs figures taking center stage first thing tomorrow morning as the white house shutters its jobs council. hampton pearson on what's sure to move the markets. >> reporter: hi, maria. tomorrow's job reports will have two part, the headline numbers on jobs and the unemployment rate. our cnbc survey predicts employers increasing non-farm payrolls by 1 of,000 jobs versus 155,000 in december. the unemployment rate holding steady at 7.8%. now today we heard that first-time unemployment claims actually jumped

our eamon javers has more on that >> aig is back in the lobbying game, after you say, after a four-yearcompany was owned by u.s. taxpayers. the firm said in 2008 it would stop lobbying after it came under pressure from capitol hill in the wake of the bailout n documents filed with the u.s. senate, the firm patent boggs, home of tommy boggs, paid $120,000 retainer to lob boyne capitol hill on behalf of aig, those documents filed in december. the firm stayed would lobby on the proposed sale of aig's stake in the international lease finance corporation, a commercial jet company, a wholly owned subsidiary of aig. the center for public integrity which alerted me to the filing said companies just don't want to stay in the political wilderness any longer than they have to. now that aig regained a foothold, they are going to be back in a big watch guys, those documents indicate that aig began lobbying several days before the tax payers were fully reimbursed for their investment r the effective date of the lobbying registration was listed december 7th. treasury announced it would sell all of its