for "nightly business report" kayla tausche in washington. >>> a recovery in america's farmland helped the results over at deer. that's where we begin toent tonight's market focus. the equipment maker is seeing stronger demand r anding sales in its key markets. the company topped alysts expectations in the recent quarter and raised its forecasts for t year. they are at $169.44. >> campbell's soup was hurt by an ongoing dpute withalmart ter a promessional program. the stock fell 3 46.17. >>> we tailers are sto fewer products made by kraft heinz. and that h that company's bottom line. it comes as competion increases and americans opt for healthier meals. sharesell more than 2% to $70.80. and vf corp., which owns north face and wrangler reported disappointing earnings and said it's planning to sell itsug ic ka business and wants to focus on its best performing labels t stock was off 11% to $74.64 wynn resorts founder eve wynn will not receive any severance payouts after he resigned fro his post following sexual misconduct allegations. he was atne point eligible for a package totaling more

kayla tausche is in washington her us tonight. >> reporter: second shutdown in a month lasted just nine hours after congress missed a midnight t deadline keep the government funded a series of votes in the senate and then the house in theda wee hours f morning. >> the motion to reconsider is laidpon the table. >> reporter: 67 republicansst voted agahe bill's high spending and debt levels, the house psing the measure by just two dozen votes, hse speaker paul ryan promising to bring up iigration after the spending bill is passed. >> once we get the budget agreement done, and we will get it done no matter how long it takes us to stay here. we will bring that debate to this floor and find a solution. but we cannot do that unless we pass this bget agreement. >> reporter: the senate passing the measure handily, one emin, rand paul dragged out deliberations beyond the adline because of similar spending concerns. >> if you were against president obama's deficits and now you are for the republican deficits, isn't that the very definition of hypocrisy. >> reporter: the budget deal raises the debt

kayla tausche is live in washington with the latest good morning to you. >> good morning.ou guys have the countdown clock going. 18 hours to go the senate and house will vote today on that broad budget deal that was agreed yesterday before that spending runs out at midnight threatening another shutdown they did strike that two-year deal with bipartisan support it lifts 2011 spending levels by 300 billion, it raises the debt limit until march 2019 and it includes add-ones like disaster relief, funding for community health centers and children's health insurance. but it does not include imfla immigration reforms. top house democrat nancy pelosi has not yet offered support from her caucus for that very reason, pelosi making a record setting eight-hour speech on the floor protesting that fact and asking for assurances from speaker paul ryan that he will prioritize immigration. democratic votes will be neede in the house if conservatives continue to balk at the price tag. last night the house freedom caucus announced it officially opposed the spending hikes here's mark meadows.

january, imbalances in the market thanks to high evaluations and high levels of corporate debt kayla tausche, cnbc business news, washington >>> kevin bosher joins us on the set this morning good morning to you. let's talk about the minutes here do you get the impression that the fed are going to start sending more hawkish signals to the market, prepare them for a faster hiking cycle? >> that's not our view at the moment we think the u.s. economy is certainly growing at a decent rate clearly tax cuts, spending increases are likely to ensure that the cycle is prolonged and that growth can continue however everything that we look at tells us that inflationary pressures in the u.s. should remain well controlled, well anchored it's a positive that inflation is rising towards a fed target of 2%. that's a good thing. i think the fed will see it that way. so at the moment we don't see any reason why the fed should be overly hawkish or do anything too different to what they are clearly fwguiding markets. that's three, possibly four rate rises this year, maybe another two or three next year what coul

kayla tausche has the results. >> we have just learned that republicans do have the votes to pass theernment funding bill to keep the government funded for the next six weeks while they hash out the details of a broader budget plan and this two-year deal to raise spending levels in washington the house vote, which nbc news is reporting comes 240 yeas to 186 nays, about a dodzen dozenn forgave thefavo that tipped this vote. this is two hours after the self-imposed midnight deadline to fund the government the government went into a shutdown because of a stall tactic because of kentucky senator rand paul who was aggrieved by the spending levels in the bill and he wanted to keep the senate from being able to move forward expeditiously last night, spending about 90 minutes on the floor in a peach where he talked about how republicans were hypocritical because they criticized deficits under the obama administration and now we're doing the same thing. he said the spending levels in this bill are part and parcel why the market has been in turmoil. >> you wonder why the stock market is jittery

eamon javers, kayla tausche on the white house lawn, and john harwood. >> that's right.say, we're expecting the president and the prime minister in the east room momentarily we have been given guidance they might be coming just a little early here a lot of eyes around the world will be on this gathering because as you remember, the relationship between these two men got off to a very rough start last year. that sort of infamous diplomatic phone call between turnbull and president trump at the beginning of last year in which trump appeared to get frustrated over the u.s./australia immigration deal, called it one of the most unpleasa unpleasant phone called he had that day both countries hoping today to move past that moment of tension, and there are a lot of reasons for these two countries to work together politically, diplomatically, militaryarily, and hanging over all of this between these two countries today will be a third country, china. and the role that country plays in the region, australia facing a little bit of diplomatic concern at home over the role of china a

kayla tausche, white house, thank you. >>> apple has the big shareholder meeting out west tim cook taking questions from the shareholders the stock pulling itself recently out of correction territory, however apple still rarely underperforming the overall market this year the votes are in and went as planned. also executive compensation also approved, brian, and two shareholder proposals not approved, as the board recommended. tim cook also on hand here today, fielding questions from shareholders i want to bring you a bit of color about what cook was telling his shareholders touched immediately on the iphone x, that was the standard by which other phones will be measured he was pleased, and noted it was the top selling smartphone, the other products, remember, they break out units or revenue for the -- he said if you look at wearables, that would include air pods saying it's the sigh of a fortune -- could be telling his stockholders, that goes to the confidence in apple's future did stuff on m & a a bit, saying it acquired about 19 companies, that he's on the outlook for other bride compa

we're live at the nasdaq market site i'm andrew ross sorkin, joe kernen is here kayla tausche is herecky is off the professor is here, steve liesman, neil blackstein is here let's see how things look this morning. the dow in triple digits in the green right now. looks to open up 263 points higher nasdaq opening higher as well. 56 points higher s&p 500 up about 18 points let's show you treasury yields at this hour 30-year, 3.182 oil prices if you want to buy a barrel of wti, you can do it it will cost you $60.96. >> among the top corporate stories, cisco systems posting a net loss in the second quarter due to an

. >> on news that kayla tausche broke from d.c >> i think the u.s.gainst the u.s. currencies i'm looking for currencies trading at a lower discount on pes. british american tobacco, just bought some of that, i love the balance sheet and it has a succulent dividend. >> succulent dividend. succulent maybe the word of the day for the markets. pete ma jenajarian, final thougs >> you look pat what's going on with the imposed tariffs and you look at u.s. steel, you look at ak steel, arcelormitta, we updated that option we had on wednesday yesterday and i'm going to update you again. i took off my position this stock ripped to the upside, all the steels obviously have moved to the upside but it gave you an insight of something going on here and those deals have been on fire today. >> thank you very much thanks for making it easy. the dow is up 142. half time up, "power lunch" begins right now >>> i'm michelle caruso cabrera and here's what's on the "power lunch" menu. fears fading the dow and s&p have already recovered more than 60% of the selloff. what has

most. >> kayla tausche when we come back, congressma n en henserling.have the full details coming up. >>> as we head to a break, take a look at the u.s. equity futures. dow up by 26 s&p futures barely positive and the nasdaq down by 4.5 we'll be right back. no. is it good? good? at cognizant, we're helping today's leading banks make better lending decisions with new sources of data- so, multiply that by her followers, speaking engagements, work experience... credit history. that more accurately assess a business' chances of success. this is a good investment. she's a good investment. get ready, because we're helping leading companies see it- and see it through-with digital. >>> jerome powell delivering -- jay powell, his first testimony as fed chairman of the financial area en henserling. congressman, chairman, thank you. great to see you >> good morning. >> i can make a case, i swear, maybe i'm -- maybe i'm like a sociopath or something, but i could make a case that we stayed low way too long and we've hurt savers and banks have benefitted and that the

kayla tausche who is in bayone maybe we'll catch a ship then. >>> when we come back this morning, we'reng to be getting ready for the trading day ahead. futures this morning are indicated higher three days in a row of gains so far. right now you see green arrows with the dow futures up by 141 points, s&p up by 11 and nasdaq by 34. we're going to be talking about banking on higher rates as well. financial rates poised to run in ons.coming mth chris wayland will join us we'll be right back. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. on the only bed that adjusts on both sides to your ideal comfort your sleep number setting. and snoring? does your bed do that? right now during the ultimate sleep number event, our queen c2 mattress with adjustable

kayla tausche has the latest this morning >> reporter: the senate and house are expected to vote today on the budget deal that was reached last night it has bipartisan support. it lifts 2011 spending levels by 3$300 billion it raises the debt limit until march 2019 and includes add-on funding for disaster relief, community health centers and children's health insurance but does not include protection for dreamers, leading nancy pelosi to make an eight-hour speech on the floor to force a vote on that topic pelosi threatened to remove her party's support. those votes may be needed if conservatives continue to balk at the price tag president trump called the deal so important for the military, but that's not enough for mark meadows whose group opposes it >> i consider the president a close, personal friend even if he called me and asked me to vote for this, the answer would still be no. general mattis supporting it sh, i appreciate the fact he got what he wanted for his military, but it's fiscally irresponsible to support it >> enough has been cobbled together from some house conservative

commenting a lot about the stock market rally on the way up what is the administration saying now kayla tausche spoke with steve mnuchin. >> he said despite the move, the administration does take used for the the secretary was appearing on capitol hill for the latest in a series of annual regulatory hearing, we caught up for him on his reache on the way in >> markets move in both directions and they're functioning very well. i'm going to my testimony. people should be focused on the long-term investment americans should focus on the stock market over the long term. the topic of regulation took a backseat to the turmoil. he did say the white house is monitoring the volatility and personally called market participants and got the green lights to note that the market is currently funging normally, though he did say algorithmic trading did play a part. a year ago he said the white house is -- that the stock market is a barometer of their success, today he would only say that markets fluctuate and they continue to believe that the u.s. is a good long-term investment guys, back to you. >> that's the

. >> well, president trump also speaking about his ambulance kayla tausche has the details. >> the white house released a 55-page legislative blueprint followed by the meeting with state and local officials, talking about their role in this plan president trump said state involvement will be crucial. >> what was very important to me was the military and tax cuts and egulation. this is of great important, because the states will have to do it themselves i would like to help the states out. >> just 14% of the total package, but about 100 billion for states, cities and towns that find their own creative ways to -- and while republicans have praised the legislative outline, democrats are already resisten chuck schumer releasing a statement saying the president's infrastructure proposal would put unsustainable and lead to trump tolls all over the country. the administration has said they'll need buy-in from at least 1 congressional committees, six in the house, five in the senate and seven agencies will be involved. now the president will be meeting with buy -- part of those committees here a

. >> it might provide some competition to other areas of the market don't move because kayla tauschet got some comments from treasury secretary steven mnuchin on this market >> michelle, the second is here on capitol hill for an annual and routine regulatory hearing but we caught up with him to ask him about the administration's reaction to the stock market drop yesterday here is what he said >> we're.monitoring the situation. the fundamental economics are very strong. the economy is doing very well tax reform is clearly helping earnings a lot and markets look like they're functioning normally in terms of liquidity. >> what about the reaction across the world >> again, markets move in both directions and they're functioning very well. people should be focused on the long term investment americans should focus on the stock market over the long-term has been one of the best investments and we'll continue to monitor it. >> so secretary mnuchin talking about the economy. one congresswoman who we talked to on her way in said she, of course, is going to ask him about how markets have been

kayla tausche broke the news in washington with the details. >> the commerce department today confirming it recommends steep tariffs and quotas on steel and aluminum coming into the united states, moves intended to restore production capacity in industries that have suffered the cheap imports flooding the market there are three categories of recommendations first reported by cnbc. the first is blanket tariffs affecting all imports into the u.s. the second is targeted tariffs for certain countries which would exclude canada and nato allies except turkey finally a limit on the amount of a country could exfort the u.s. is the third option. wilbur rot told reporters that the president will be the sole judge on what the right outcome will be, that the deadline for this announce system the middle of april but the u.s. should expect other countries to challenge this once it's announced. back to you. >> kayla, thank you. >>> a good day for the markets but not a good day for shake shack investors. shares down on undercooked guidance coming up, an analyst who got it right. plus, from burgers to th

we're live at the nasdaq market site i'm andrew ross sorkin, joe kernen is here kayla tausche is here. becky is off the professor is here, steve liesman, neil blackstein is here let's see how things look this morning. the dow in triple digits in the green right now. looks to open up 263 points higher nasdaq opening higher as well. 56 points higher s&p 500 up about 18 points let's show you treasury yields at this hour 30-year, 3.182 oil prices if you want to buy a barrel of wti, you can do it it will cost you $60.96. >> among the top corporate stories, cisco systems posting a net loss in the second quarter due to an $11 billion tax related charge but excluding items earnings still beat the street cisco looks to s s to repatria$ billion in overseas assets >>> uber's ceo plans to expand the ride hailing service beyond cars he says uber is to cars what amazon is to book stores he believes uber could be a marketplace for other forms of transportation, including public buses and bike sharing programs. >> i was with him in davos, he was sharing this idea that you would take an uber to a trai

kayla tausche is here. good morning >> good morning, that plan is set to be released today four principles are going to be in that, all recently reported by cnbc. $100 billion in state and local incentives for financing their own projects $50 billion in front-loaded block grants for rural communities. $20 million for so-called transformative projects and the reminder going towards bond and loan programs as well as federal office buildings just 14% of the price tag is coming from the federal government programs short on funds but long on anticipated reforms to regulatory processes the white house expects the $200 billion in chrises will be offset by elsewhere in the budget and the president is open to raising the gas tax even more. and the bipartisan budget deal from last week included $20 billion for infrastructure which leaders called a down payment for the program but keskeptics have said it's an insurance policy and the republican unwillingness to spend more money. the plan will include 11 congressional