john shrewsberry. the dow up 66 points. >> coming off highs a little bit. it has been a volatile day. sales force is the latest company to back away from bidding on twitter. jim cramer joins us next. >>> there is a new political vivl war brewing. this time it is in the democratic party. senator elizabeth warren calling on president obama to preplace for failing to develop a political spending disclosure rule. we will discuss that potential fallout later on "closing bell." stay tuned. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. this man creates software, to protect this customer, who lives here and flies to hong kong, to visit this company that makes

eastern time they'll speak with wells fargo cfo john shrewsberry.santelli has numbers on confidence. >> we want to make sure we bring you the viewers this. it's pretty important. our preliminary october read, so it can change, came in at 87.9. now, that is the lowest level of confidence from university of michigan this year. as a matter of fact, you have to go back to september of last year to find a lower number. so of course we want to monitor that and try to put ourselves in investors' minds that fill out that survey because we know the equity's been a bit squeamish lately. carl, kayla, back to you. >> thanks so much, rick santelli. we'll see you again soon. when we come back on "squawk on the street," corporate tax loopholes, our sarah eisen sat down exclusively with treasury secretary jack lew to break down the new inversion rules and much more. plus, we'll hear from the ceo of energy giant exelon straight ahead. you're watching "squawk on the street." ♪ amazing sleep stays with you all day and all night. with sleep number, you choose the exact

wells fargo's cfo john shrewsberry joins us. let me ask you about the issue with states.t see a terrible effect on your earnings in the reported quarter because of this scandal. are we going to see this effect year earnings going forward? handfulll, there are a of states, as you have heard, and you mentioned a handful, that have put us in the box as we go through our review and the rebuild trust with them. because of the diversification of our overall business model and what that means to overall revenue or bottom line, it's not going to have a meaningful impact. we love their business. they are good customers. we worked hard to get their business in the past and we will work to do that again when this one year is over. have you spoken with warren buffett since the management change? and if you haven't, why not? >> we speak to all of our shareholders. we just had our earnings report this morning, so it has not been a good time to have substantive discussions in the run-up to a public event like earnings, but we have been in consultation since september 8 with all of them.