you and i got to spend time together and talk to lawmakers emily wilkins, great to see you. >>> let'snsight into what's going on in d.c ed hill with raymond james good morning a lot to talk about. >> welcome to d.c. >> where else could you be on a day like this. fed, possible shutdown i want to follow what emily is saying it's looking more and more likely like a government shutdown what are you hearing about this. what is in your mind the likelihood of a shutdown coming up >> i'm focused on the senate and we're focusing too much on the house. in the senate, they actually have a shell of a bill that they can do as a cr every time the house fails to do something, that increases the probability that the cr, this continuing resolution to keep the governmentfunding comes out of the senate. if that passes with 70, 80 votes, that puts an incredible amount of pressure on the house to take this up, and so every time the government moves forward, that increases the probability of it to stay open because the senate moves first that i have a bill to to that with and there is a vote in the house.

emily wilkins has more on the agenda. n the house later on this month. >> reporter: you are right, dom. the senate will get back today. the house will get back next week. with that extra week for the senate, they still have so much to do. remember, congress was out all last month and they have the busy schedule. number one priority is ensuring the government is funded past the september 30th deadline. both house speaker kevin mccarthy and minority leader chuck schumer wants to continue the funding for the year and in addition to keeping the lights on, several programs are set to expire at the end of september unless lawmakers act. overseeing airplane safety and farmer billss and assistance for child care providers and ensuring the u.s. primary flood insurance program is able to still renew and sell new policies. huge with the hurricanes we have seen. in addition, chuck schumer told colleagues last week that he hopes to do other bills on artificial intelligence and banking for cannabis companies and clawing back senior exec

we have emily wilkin ss with mo. >> reporter: good morning, frank. shutdown date, there is still no path to moving the stop-gap funding bill. the house and senate are on different tracks republicans do not have an agreement on the path forward. in the house, speaker mccarthy says any bill needs to include border security provisions senate will vote on four spending bills which they hope converts people to supporters before a vote on the short-term measure tomorrow over in the senate, they are in the process of moving a bipartisan stop-gap measure to fund the government until november 17th and provide $4.5 billion for ukraine. senator mcconnell has criticized this house plan as hurting border acts gents which would go without pay if the shutdown would occur. s.e.c. chair gary gensler said a shutdown would eliminate key services and hurt companies planning to make a initial public offering. >> they won't have someone at full force overseeing the market for companies that want to go public we cannot review the documents or documents going effective if y

we have emily wilkins in washington, d.c.e you hearing >> reporter: good morning, frank. the shutdown is less than five days away. lawmakers are returning to d.c. today and they the wiwill find f they make progress or suffer defeat from last week. this afternoon, the house will have the first vote. they will vote on whether to move forward with the four long-term bills to fund different parts of the government none of the bills would prevent a government shutdown, but needed to appease the republicans who have put their foot down and saying they don't want to continue current government funding that group blocked republicans from moving forward with procedural votes last week this rarely ever happens in the house and it speaks to the deep divisions in the party that moody's was noting speaker mccarthy hoping he can be able to avoid a shutdown by bringing a short-term bill to the floor this week, but and this is a big but, if it did pass, the measure he is considering lacks democratic support which means there is no way it get

emily wilkins live in det.c. >>> time for the money movers.rket after raising the full-year guidance the company is in the process of merging the ground and express units to save approximately $4 billion and leads to a boost in margins. the ceo sounding optimistic about the restructuring plans. it raised the bottom line because fedex is expecting a muted holiday season. joining me for a deeper dive in the quarter is the steenenior analyst at bernstein. >> good morning, frank. >> stocks up in the pre-market up 5% right now. what was your take on what you heard? did it change your rating for fedex? >> we did take a target up on the strength of the ground results. you know, a lot of talk in the headlines how fedex benefitted from the share take from the u.p.s. and yellow bankruptcy. they really delivered 400 basis points of margin without the operating leverage. truck rates are cheaper and they are capturing some of the pricing gains and drop the rates down to the bottom line. >> a huge beat with the margin for the ground division. 8.5% a year ag

phil lebeau is covering the auto workers strike, emily wilkins is in washington, d.c., following theegotiations over the government shutdown. phil, let's start with you with the latest on the auto side of things. >> it's not good. and we're hearing from frustrated executives at ford, we just heard from jim farley, you'll hear more in just a little bit. gm is equally frustrated. we're seeing an expansion in strikes at a time when they don't believe enough is being done by the uaw in terms of negotiations. here's the expanded strikes. two more assembly plants, one by ford. it's the one that's owned by ford. and then you've got the gm lancing delta township assembly plant. ford explorer, chevy traverse, buick enclave are not being made right now. you add these shutdowns with the plants that were put on strike a couple weeks ago, you now have 22% of the big three's u.s. production, u.s. production, from the big three that is now effectively shut down. here's jim farley from ford talking about his frustration. >> a bad deal was threatened now, midsize and much more expensive larger vehicl

emily wilkins. we also won't get reads on the economy, because the economic data won't be released. >> maybe that's good. >> just look at the chart. >> through go. >> it's amazing to me as a guy that spent a lot of time in a merging markets where a political shutdown and political wrangling and dysfunction is usually what causes sovereign cds and causes government bond yields to go sky rocking. we've heard from every agency. some more focused on the banks. started with fitch. heard moody's late last week talk about sovereign credit in the context of a government shutdown. i'm not saying they should, that they shouldn't. i'm just telling you that's not been part of the calculus. i think that has a lot to do with some of the last 10 to 15 bases points of bond market. >> it underscores government dysfunction. sadly, government dysfunction is not likely to go away or get better any time soon. >> yeah, we have had, what, somewhere around 20 different shutdowns since 1980. both parties have held responsib

. >> -- we have to go to emily wilkins with a news alert out of our nation's capitol >> reporter: the news today, we knew that republicans were hoping to get that vote on that temporary stopgap spending measure this week, but that is looking a lot less likely. a procedural vote that was supposed to go forward this afternoon and move things along has been canceled. we know there are a number of republicans who are not happy with the agreement that was forged over the weekend. republicans met this morning to try and talk things out, but clearly at this point there aren't enough votes to really go forward. and just a reminder, even if they find agreement on the bill, it is likely dead on arrival as soon as it gets to the senate. over here where we're wait to go see if the government will continue to be open, if congress can find a path forward, it's not looking very good as the first step today has been scuttled >> okay, emily wilkins live in d.c. with the latest there committee, what i read in her report, the odds of a government shutdown are now higher. so, kari, is this something that

emily wilkins. we may be inching toward a shutdown, and the markets will remain unaffected even with the soaring budget deficit. joining me is the -- from raymond james. >> thanks, kelly. >> if anything we're looking at the biggest impact on the rates market and that is still moving the stock market, but you still don't think it's a big effect. >> what we did at raymond james is looked at all of the shutdowns since 1959 and asked what did the market do? we hear a lot from the clients is this a real concern? what we found was very counterintuitive. since 1995 when the magovernmen shut down the marks ets went up and actually 30 days after the shutdown universally the market has been up since 1995. >> i think what's different this time and it's not that we -- look, we all know the impact of the shutdown is diminimus. even though we've had interest rates at these levels before it was never with deficit and debts as high as they are. so i'm just not sure how comparable. >> in other words, if we said forg

for that we turn to emily wilkins. hi, emily. >> hi, sara. hi, carl. there's going to be news on capitol hill. speaker kevin mccarthy is talking right now. he is expected to announce his support for an impeachment inquiry into president biden. this ties back to hunter biden, a lot of his foreign business dealings, and whether president biden was involved either in soliciting money or he was paid. we have had inquiries going on for several months looking into this. we haven't found any direct evidence that biden was involved. mccarthy is saying that what we have found has raised enough questions to begin an imp impeachment inquiry. republicans are not entirely united. while republicans have been pushing for something against biden, digging him into, you have more moderate republicans saying, hey, this is not what we should be focusing on right now. we have to be digging into kitchen table issues. there's been concerns from congressman ken buck there's not enough evidence right now. there's enough pressure on republicans that you're now seeing mccarthy c

. >> a news alert here on a short-term spending bill out of washington emily wilkins has the details. emily? >> well, the senate has come out with their bipartisan stopgap bill to avert a shutdown what we know is that it would basically continue government funding until november 17th. it would include $4.5 billion in aid for ukraine. now, that's less than the white house was asking for, but remember, this is, of course, a short-term bill, this is not what is expected to fund the government for the next fiscal year of course, the difficulty is going to be getting it through the senate, where any one member can hold up the process. that means the bill might not be able to pass before the end of this week, in which time, the government shutdown would start. if that happens, we would go into a shutdown and lawmakers would still be working to pass this bipartisan bill and, of course, after it gets passed the senate, it still has to go to the house, and that's a huge question mark for what happens there. speaker kevin mccarthy could easily put a bipartisan bill on the floor and get enough d

emily wilkins on the senate side tucking to lawmakers. eamon javers is speaking with tech leaders.>> he was a little chatty as he left the meeting here. we're just outside the russell senate office building. this meeting is going to go on until about 5:00, 5:30. a lot of those big names have already left. bill gates went out the door. mark zuckerberg. none of them stopped to talk to us but elon musk was in a bit of a chatty mood, a little reflective as he came out of the meeting. he called it historic. >> i think it was very civilized discussion, actually, among some of the smartest people in the world. so i thought senator schumer did a great service to humanity here. i think something good will come of this. i think this meeting may go down in history as being very important for the future of civilization. >> musk also told me he views ai has a different kind of issue that you normally see on capitol hill because it has dire consequences if it gets out of control. he was here very much to deliver that warning to the senators. we also got a word by the way from facebook's team. th

let's get over to emily wilkins on capitol hill with the latest. emily?kelly, it's still not looking like there is a clear path to avoiding a government shutdown that would begin on saturday night, sunday morning. and congress, it's not that they're not working on trying to figure out a solution, but the house has tried and failed to bring up a spending bill so what they will do today will see this vote come a little bit into the evening the house is going to vote on trying to move forward on four major bills to fund the government and they're hoping that is a show of good faith to a small number of republicans who have been holding out, and that those republicans, once the four bills are past, come on board with that short-term funding. that's a lot of ifs. there's no gauarantee that is what we will see from the house in a couple of days. kevin mccarthy talked to reporters today and what he is trying to emphasize to members is that this short-term bill includes a number of republican priorities for the southern border, building the wall, limiting immigra

let's go out to emily wilkins out on capitol hill. what do you hear? >> lawmakers say they don't want to shut down, but we seem to be headed for one. we are less than 13 days away from the government shutting down. we have gotten an agreement between two different groups of republicans who have come together and said hey, we have a plan going forward. it's not clear that that plan is actually going to be able to get to the finish line. the details of the plan released this weekend include a number of different things such as an 8% cut for domestic programs and not including military and veterans programs and several items for the border and the republicans want to begin building the border wall and limits on asylum. however, even though this agreement shows a step forward, not everyone is onboard. there have been a number of concerns from hard line republicans who say that this deal does not go far enough. congressman matt rosendale tweeted over the weekend tweeting that this was a continuation of nancy pelosi's policies and joe biden's budget. you als

there's a real logjam in washington right now and emily wilkins is all over it for us. hi, emily. >> hi. a lot happening in d.c. this week, but so far nothing that would actually lead for the government to not shut down come midnight on october 1st. that could have some serious implications. you're talking about 2 million federal workers plus military who are not going to be receiving a paycheck for the duration of the shutdown. billions of impact to the economy. the credit agencies have started to take note. moody's coming out this afternoon with a warning to the u.s. government that shutting down would be credit negative. the u.s. has a triple a rating from moody's. in a statement they warned that if the u.s. comes out with a shutdown that could have some negative impacts. it could demonstrate significant constraints that intensifying political polarization driven by widening fiscal deficits and deteriorating affordability could lead to a negative credit rating. basically the fact that things are so partisan now that the house can't get anything done. you saw them try

we have emily wilkins with the latest in washington, d.c. >> reporter: good morning, frank.ood. there is no sign at this point that congress is going to be able to fund the government before saturday night. that's going to set up a shutdown that could last for weeks, potentially. house speaker kevin mccarthy wants a stop-gap measure to the floor this week to avoid the shutdown. others don't want to continue the government funding currently e even if it is for a bit. they want to pass the longer-term spending bills. republicans teed up four spending bills for a vote this week, but it is not a guarantee that they will pass. you saw a handful of problems last week where a small number of republicans blocked the bills from going forward. frustrations are growing within the larger republican party with the small fraction of members. garrett graves said not funding the government would be a failure for the entire gop. >> our troops to go out and put their lieves on the line and no be paid. we need to fight to close the southern border, but not have the border patrol paid. this is

let's get to emily wilkins. >> hey, carl. cnbc learned the heads of eight major banks will be headed to capitol hill to face questions from a panel of senators later this year. we've gotten a first look at this upcoming blockbuster hearing that will include the ceos of jpmorgan chase, goldman sachs, wells and others. chair brown said it was important to hear flt biggest banks. in his words, quote, hold too much power over the economy. chairman brown went on to say it was lawmakers' jobs to hold banks accountable to the workers, the customers and the american people. the hearing isn't scheduled for a while. it won't happen until december 6th. it is the third of its kind. sherrod brown has invited the heads of the u.s. largest banks to testify in front of the senate banking committee. earlier this year the banking committee passed legislation that would actually authorize the fdic to claw back compensation from senior executives that failed banks. now, that legislation hasn't cleared the committee. we're still waiting to see if

stop gap funding measure to avert a shutdown this burden lies on the house speaker kevin mccarthy emily wilkinsmore on what is at stake. >> reporter: good morning, frank. we are two weeks away from the government shutdown. there is still no clear path on how congress is going to avert it a plan backed by speaker mccarthy is looking in trouble with the growing number of republicans opposing the package. the bill pares funding the government to october 31st with immigration measures that includes building the wall and limiting asylum into the u.s. the republican measure would cut 8% from domestic programs. the bill looks doomed with a dozen members opposing the bill and some saying it doesn't contain enough things the republicans want others saying that congress needs to pass a full funding bill rather than a short-term one. mccarthy and other lawmakers said they believe they can get enough votes for the stop gap measure by thursday. all they have to do is educate members on what is in the bill mccarthy told the members he was invoking the ultimate threat taking away the lawmakers weekend. >> i t

emily wilkins joins us with on who's speaking, and where are they focused? really meant to be a general education session, which kind of sounds like no big deal, but this is a very big deal. tech giants are heading to capitol hill today for really what is a one of a kind-meeting on a.i. all 100 senators have been invited to attend the all-day forum to hear from mark zuckerberg, elon musk, sam altman, bill gates, and a number of ceos from took leaders as well as leaders from civil unions and civil rights group. the whole value is to educate senators on a.i. for lawmakers, it's not usually the most tech-savvy group but lawmakers understand they want to focus and prioritize legislation. the three-hour session that will begin at 10:00 a.m. will focus on technology and then an afternoon session will focus on policy. yet, contessa, the real world work is going on in a handful of committees that are forming legislation on a.i. both the senate judiciary and commerce committees held hearings yesterday. democrat richard blumenthal and republican josh hawley held one o

. >>> emily wilkins has an update on some of the stalled budget talks on capitol hill. emily?er: mike, we saw another defeat for speaker kevin mccarthy and a sign that getting out of the government shutdown at this point might be quite difficult. a bill to fund the department of defense was expected to come to the floor, this was a procedural vote to move forward to it mccarthy was going to bring it up last week, pulled it and put it on the vote and dared members to vote against, and five did. that's all that's needed the procedure rule has gone down remember earlier today they were going to vote on another procedural motion to move to the stop gap continuing resolution to keep the government funded until the end of next month. that's off the table although a number of members are huddling in one of the offices trying to hash out potential agreements on how this can get done. one amendment we heard is to put the funding lower. currently republicans were looking at an 8% deduction in some domestic programs that didn't deal with military or veterans and now they're looking for a

emily wilkins has the latest from washington. emily, is there a path at this point to avoid a shutdown? >> you know, it is not looking good at this point. and mostly because the house and the senate are on completely different pages right now. house speaker kevin mccarthy just told republicans this morning that there was no way that he was going to bring this bipartisan senate bill to the house for a vote. and you saw that bill in the senate go through with stronger bipartisan support yesterday. they just started the process on it. and you just saw senate minority leader mitch mcconnell, the top republican in the senate, come out and endorse that bill as a path forward. so very, very different there. that snenate bill was just introduced yet. it would fund the government until november 17th. it would also include $4.5 billion for ukraine. and again, it's got a lot of that bipartisan support. one thing, though, it doesn't have, is anything on border security. and that is where the disagreement between house and senate republicans c

emily wilkins is joining us with the story. emily. >> hi tyler.awmakers were going to be staying in d.c. until they got the continuing stopgap funding done. but at this point it sounds like members are actually going to be heading home. this comes after a number of very difficult votes this week including one today where republicans for the second time tried to pass a procedural motion to get to a funding bill for the department of defense and again that bill failed to pass on the floor. a small group of republicans holding it back over a wide variety of concerns about the process for government being funded, about potential funding for ukraine, and at this point it is just very difficult to see what a potential path forward in the house would be. there are bipartisan bills that were put ford lastward last nig. you have about 60 endorsing that proposal. and of course you have the senate, funding bills have to renlg nature in the house, but there are different loopholes and things that the senate could do to move. but that the point it is not clear

emily wilkins, what's happening? top of the hour that republicans were preparing for a very important vote on a stopgap measure. that vote has been taken and it has failed. 21 republicans joined democrats in opposing what would have been basically a 30-day stopgap that would have kept the government funded. this makes a shutdown all the more likely because it shows that house republicans have a series serious problem with none of their members wanting a stopgap funding that would prevent a shut down. what happens next? house republicans will be getting together and huddling a little later this afternoon. we'll keep an eye on that meeting. house democrats are very clearly now a part of the game. speaker kevin mccarthy cannot end a future shutdown without democratic support. and a big question what that looks like because if he goes for democrats, then he could face some threats for his own speakership, of course, remember the senate is also working on their bipartisan stopgap plan. however, the senate has to go throug

emily wilkins is here with that. >> of course the whole congress is really trying to figure out how to potentially overt a shutdown that is now scheduled to start midnight october 1. yesterday you heard house speaker kevin mccarthy say that republicans need to have some measure on border security be attached to a stopgap bill to prevent that shutdown. and the senate is starting to listen. you have members today that are beginning to discuss adding an amendment to the senate's bill that would address some policies over border security. senator john cornyn after having a small meeting with a couple of his republican colleagues on the potential change came out and told reporters that what they are focused on is who is basically let into the u.s. a lot of immigrants are come up to the southern border, they will be processed and then they are allowed to go into the u.s. some of them to await trials and court dates to see if they can be granted asylum. that is would not big area that republicans think that is of concern to them.not big area th republicans think that is of concern to them. bu

emily wilkins joins us more from washington. emily, i'm taking the weekend.>> you can, but congress cannot. they are really barrelling toward the government shutdown with only ten days left to fund the government and there is no plan right now that could actually make it to president biden's desk. house republicans did make some progress last night. they agreed to further cut spending to $1.53 trillion. the short-term spending bill would have bigger cuts and border security provisions and creates the commission to deal with the growing debt. this new agreement has moved some lawmakers from no to yes, it is not clear this will pass the house and it cannot pass in the senate. lawmakers like steve womack are worried about how the shutdown could hurt the economy. listen to what he told us the other day. >> it will impact a lot of people. even people who think it won't impact, it impacts. it sends the wrong message to the market. fitch has already downgraded. moody's is sitting there paying attention to this. >> further complicating government funding is the debat

emily wilkin has that for us. good morning. >> reporter: good morning.s week, republicans have fail to move forward with a procedural vote that would eventually lead to voting on funding for the department of defense. this is really unheard of. i mean, just a rule going down in general is pretty rare as is and for it to happen twice in one week, last night the republicans came out of their all hands on deck meeting. a number of them sounded optimistic about moving forward. they had some new agreements put into place. but today shows it is clearly not enough. and this really did catch speaker kevin mccarthy by surprise. we caught him as he was leaving the chamber today, and he said he did not realize that there weren't going to be the votes to move forward on this, and he said, this is a whole new concept for him of individuals that just want to burn the whole place down and that that doesn't work. at this point really no clear direction on how this is going to be going forward in the house. there was a bipartisan bill released last night that may be a po

. >> how much of a comp locating factor is the fiscal spending that emily wilkins highlighted just a day there dispersing another 200+ million dollars from the chips act? >> that is right. i think our expert team here does think the chips act and the other legislation will introduce the and economy over time. it is not necessarily a big impact and 24. let's be honest fiscal policy has been a big surprise. we've had a big increase in the deficit this year. there is still a cumulative saving from past programs. fiscal policy upping to the fed is a wildcard here. i think they need to factor that in. >> talk to us a little bit about employment and jobs and what they said today about what the numbers seem to indicate for 2024 and beyond. >> that is really what i took note of. the traditional view and i will confess i have been in that camp is that some of the adjustment to distant plate and get inflation down reliably to talk it is going to require some softening in the labor market. not a great extent some softening. until today that was the fed's view. they had the unemployment rate ris

cnbc correspondent emily wilkins joins us now.e here if congress does not renew this crucial funding and where are lawmakers right now in the fight? >> reporter: there's a lot on the line for the $24 billion program. while most industries have fought back after the pandemic, child care hasn't. more than 55 thousand child care jobs have been lost since early 2020 and now this lifeline of funding from the government is set to run out at the end of the month. the cuts would impact an estimated 3.2 million children and cost $9 billion in lost revenue, according to the century foundation. i spoke with ashley proctor, she is one of the parents who would be impacted, her son has been part of a program that congress approved and with it, her son would not be able to attend child care. >> if you're in a day care, it can cost as much as $400 a week and if you're working, and your whole check is going to day care, how are you going to survive? how are you paying your other bills because you're worrying about the cost of a day care? a safe en

emily wilkins is standing by. she's been looking into all of this. nd congress has no plan right now to keep the lights on after september o'30th. speaker kevin mccarthy has said he wants to try yet again this week to get a vote on a temporary funding bill that would prevent a shutdown, but he just does not have enough support in his own party to do that. rather, a handful of republicans are holding out hinsisting on first passing long-term spending bills. even going that route, there's not enough time to move all remaining 11 funding bills this week. and frustrations are really growing within the larger republican party at this small fracture of members who have been holing out progress. congressman garrett graves said over the weekend that republicans are ultimately only hurting themselves if the government shuts down. >> the arsonist that lit their house on fire, they're whining about their house burning. they're going to want credit for putting the fire out and then they're going to set up a go fund me to get paid for what happened. this is really

emily wilkins joins us with more. good morning. >> good morning, joe.s and bad news. good news is that the senate and the house are each making progress on a measure to fund the government. the bad news is that neither of those plans are actually going to go all the way through. they're both dead on arrival in the other chamber, meaning more hurdling toward a shutdown that would begin sunday at midnight. let's break it down. last night, the house did move three long-term spending bills. but the more important vote is going to come up today, when the house will try to move that short-term spending bill with budget cuts and border security measures. now, a small but powerful group of republicans have said they will never, ever, ever back a short-term spending bill. and if that group holds firm today, then speaker kevin mccarthy is going to need house democrats to help him fund the government. over on the senate side, democrats are also keen where they're adding border security provisions to the bipartisan stopgap bill. senator john cornyn told us yesterda

emily wilkins joins us from d.c. with the state of play at this hour. >> hey, carl.h reporters. he really made the case that the votes we're going to see this afternoon he wants to make it a choice for republicans. they agree to fund the border and pass a number of border security provisions or agree to a shutdown. this is really an appeal just to about five to eight members who said they will never vote for stop gap funding but that is what mccarthy needs to get done today to make the house a player when it comes to figuring out a shutdown. we're expecting two votes to occur, one a little bit later at 11:30 and that will be a procedural vote and if that happens, about 1:00, they will take that very critical vote on stopgap funding. it won't prevent a shutdown but it will get us a little bit closer to a potential solution for ending one. carl? >> we'll talk in a bit about whether or not we get a motion to vacate. for the time being back to sara in pebble beach. sara? >> hi, carl. we're live at citigroup's tech and media conference here in pebble beach, california. jo

. >> we're going to talk with jim about that in a moment, but first, our emily wilkins is down in d.cwith the latest. morning, emily. >> good morning, carl. well, a.i. is really getting the red carpet treatment on capitol hill today. you know, capitol hill, home to a lot of meetings, a lot of issues. this is really unique. in less than an hour, at 10:00, right behind me here in the kennedy caucus room, all 100 senators have been invited to meet with elon musk, mark zuckerberg, bill gates, a lot of leaders on tech and a.i. as well as leaders from civil rights groups, from unions to really start or rather continue a conversation about a.i. and what congress's role needs to be. now, this isn't the first hearing. it probably is the most blockbuster hearing with the biggest names, but majority leader chuck schumer has said that this is really about educating members. i know a lot of people don't think of senators as the most tech savvy. senator schumer's known for having his little flip phone, but he really wants to make sure that senators are comfortable with their knowledge of a.i. the a

emily wilkins. >>> our next guest says that government shutdowns tend to have limited market preliminaryatility. what are the risks facing stocks as we look ahead to q4. truist advisory services co-chief, keith, good to have you back. it points to the q4 pot holes that a lot of people have been pointing to, the shutdown, the strikes, and student loans. how rough could that be going into a period where some are looking for a chase? >> yeah. great to be with you, carl, and gang, this morning. i think the government shutdown by itself isn't a major issue from a stock market perspective. we look back since 1976, we've seen 20 of these. during the actual shutdown, the average performance for the s&p is 0.0. so there's some variation between that, but i think the challenge for the market right now it's not just any one thing, it's all the obvious things we're talking about as far as the student loans, the government shutdown, the uaw, and really more importantly, you know, yields are above 450 this morning. i think the challenge for this market near term is there's a lack of upside catalyst. a

emily wilkins joining us with more on this. emily, good morning. >> good morning, becky.eting yesterday rolling out the red carpet for tech giants, including elon musk, mark zuckerberg, bill gates, sam altman, representatives from ai, as well as unions and civil rights groups. the closed-door meeting was meant to educate lawmakers on ai and begin discussing some of the complicated choices congress is going to have to make when regulating ai. senators in the room said there were debates on whether ai models should be open sourced. many argued for ensuring that the software is publicly accessible to help rapidly develop it. others warn that easy access to powerful ai models could prover dangerous. ceo of hugging face said he felt consensus was building around a sliding scale where some models could be accessed by the public, while others would be more limited. >> you can use staged releases with progressively opening up more and more, not only the models but the data sets and the computes so that you can really unleash the millions of jobs that can be created with ai, that

emily wilkins joeins us from c. ky, a shutdown is looking us fromwith wh d.c. with where things stant. >> a shutdown is looking almost all but inevitable and the latest draft is between senate house and republicans. over in the house, kevin mccarthy is pushing to make sure border security provisions are included on any sort of stopgap solution but a handful of republicans in his own party have told us they're going to oppose any short-term measure that is brought to the floor now, mccarthy is hoping he can change some of their minds he's going to move forward today for votes on four long-term spending bills but even if the house can pass those bills, and their stopgap, that stopgap is dead on arrival in the senate. the senators there are completely focused on moving forward with a bipartisan bill and mitch mcconnell even criticized the house plan on the floor yesterday, saying that it is just going to hurt border agents because they would go without pay if a shutdown was to occur. now, a small group of senators are c

the latest news out of washington, and what looks like a looming shutdown, and we want to get to emily wilkinsng good morning >> morning, andrew the house and senate are back today and the house has a critical vote on whether to move forward with four major spending bills. this is important for overall negotiations but let's be clear, none of these bills will prevent the government from heading towards a shutdown and they are working on the bipartisan stop gap bill since last week, and it would fund the government for 45 days is what they are negotiating on right now, and it still has to go through the house. remember, there's the handful of republicans that threatened to remove speaker kevin mccarthy from his leadership role if he works with democrats to end the shutdown a lot of complexities there, and the blame game on the shutdown already started. president joe biden said yesterday it would be republicans that would be to blame over spending bills not being passed republicans should have to pay the price in the 2024 elections. >> funding the government is one of the most basic fundamental

emily wilkins joins us with more on that front. orning, becky, there has been an agreement, but some republicans are still opposed to it, meaning a shutdown is still on the table for the end of this month. that agreement would fund the government until october 31st, giving lawmakers more time to work out the details in a longer term spending bill: the temporary solution would also cut most domestic programs by 8%. that's with exceptions for military and veterans' programs, and the short-term agreement also includes the gop-backed immigration measures like resuming construction of the wall at the southern border and redist restricting the right to seek asylum in the u.s. not included in the package, a provision requiring employers verify their employees are eligible to work in the u.s. while the agreement is a major step for house speaker kevin mccarthy, lawmakers aren't out of the woods yet. that handful of republicans have said they oppose the stopgap measure and plan to vote against it. congressman matt rosendale said the package

joining us on the agenda for september is emily wilkins. she joins us from washington. will you come back in the future and talk about things that actually happened, emily? i don't know. i'm not optimistic. are you? >> reporter: i think when you take a look at everything they have to do, there are some things that congress absolutely has to get done. it is hard deadlines for programs with a lot of impact. there is a chance to get some of this done. if you look at the agenda, they have until september 30th to renew or extend half a dozen major programs and bills that will otherwise expire. this includes government funding. both chuck schumer and kevin mccarthy said they want to extend funding to later in the year to giveissues. a group of hard line republicans are vowing to oppose unless it gives you lower spending. bill hoagland with the bipartisan center said mccarthy will need to partner with the democrats to get the government funded. >> that sets up for a difficult set of negotiations. i don't want to get into the politics too far, but i have to think this becomes a

i want to get over to emily wilkins who joins us with the latest. where are we?> things aren't looking great, but there is progress, the senate came out with the bipartisan plan to prevent a shutdown, but it's not a guarantee that the shutdown is averted or the government is going to remain funded into the weekend. the senate plan would give lawmakers until november 17th for the stopgap funding so they could figure out a way to fund the government in the long term. it would continue current government funding and include $4.5 billion in aid for ukraine. last night we got a procedural vote on the bill, a bit of a test to see what the support is, and solid bipartisan backing. most house republicans said last night they just can't accept a bill that doesn't address the border. house speaker kevin mccarthy also told us last night that putting funding for ukraine in a stopgap bill was wrong. listen to what he had to say. >> they're picking ukraine over americans. look, i know there's problems out there. what russia has done is wrong. we can defend that. but we also wa