i'll send it back over to my colleague, larry kudlow. >> thank you, trish. >> so the senate is nearing a deal on financial regulation, the last sticking point the creation of a new consumer protection agency may be sitting inside the federal reserve. john harwood in washington with the latest. good morning, john. >> hey, larry. these negotiations are continuing and it's really about a fill soffic question and how should they be protected and is there a collision between the need to protect consumers and the financial practices that firms can engage in and the need for those firms to be safe and sound. the prudential regulator versus the consumer regulator, so the highlights of that discussion are that dodd and corker negotiations which are the continuing bipartisan negotiations look like they may drag into next week. there are three potential homes for that consumer finance protection agency. one is the federal reserve which is a proposal that bob corker of tennessee is pushing right now. richard shelby, the ranking republican is using the fdic. the administration is more inclined to h

i'm larry kudlow. the obama administration expanding its plan to help troubled homeowners. we'll speak with the fha commissioner about it and we'll debate whether it's a good idea or government gone wild. >> i wonder what larry things. >> our special cnbc day-long coverage focusing on manufacturing jobs coming back to america but do manufacturing jobs matter to the u.s. economy? this is "the call" on cnbc. stonchlthsices are rising but the real action is in treasury and still the major indices in positive territory despite fourth quarter gdp the expenditure measure rose at a rate of just over 4% in the first half of the year. good signs of recovery, that's my theory. i welcome yours. the s&p 500 trading at six points and radio shack the biggest gainer in the s&p right now. the dow industrial traded plus side by better than 52 points. bank of america, jpmorgan chase helping the bulls there. look at the nasdaq. positive territory, as well. 2406. trish, what's happening on the floor? lots of chatter about the bond market, right? >> lots of chatter about the bond market and we a

i'm larry kudlow. welcome to "the kudlow report" where we believe free market capitalism is still the best pat to prosperity. >>> tax and spend entitlement time for even bigger government. one of the stars of the so-called bipartisan white house summit was senate republican conference chair, tennessee senator lamar alexander. we welcome him back to the program to tell us where we're going. how and why? mr. alexander thank you very much. it's great to see you. congratulations. >> thank you, larry. >> it have to ask you. i have so many things and i know our time is short. this is an investor-class issue. that's the application of the 2.9% payroll tax on health care, to investments. it will raise the dividends' tax and annuities and it will probably raise capital gains. when you combine that with the end of the bush tax cuts it would jack up the capital gains' tax by over 50%. is this thing baked in the cake? can this thing be beat snn i think it's rattling investors and stocks right now. >> i think it can

i'm larry kudlow. welcome back to the "kudlow report" where we believe free market capitalist is the best way to energy. drill, drill, drill. for free market regulation to produce more oil and gas to fuel the economy, create jobs and stabilize prices. today, president obama announced his new plan for more off shore drilling and our chief correspondent is going to give us the full report, a very interesting turn of events, john. >> it was very interesting, larry. he's moving in your direction. not all the way there, but part of the way there. and there's a good reason for that. he knows to achieve his goal of a comprehensive energy goal including a cap on carbon emissions, he's got to get significant republican support. how do you do that? split the difference on oil drilling and challenge your own base. >> ultimately, we need to move beyond the tired debates of the left and the right, between business leaders and environmentalists, between those who would claim drilling is a cure all and those who would

. >>> good evening, everyone, i'm larry kudlow. welcome back to the kudlow report where we believe free market capitalism is still the best path to prosperity, lonely as that is. let's begin with my thoughts. we're talking stocks tonight, a nice rally for the best finish in 17 months. the index is closing in on 11,000. even with all the left-wing politics coming out of washington, the stock market reality, as you have heard me say dozens of times in recent months is a strong, cyclical rebound in corporate profits, riding on a wave of ultra-easy money from our nation's friendly central bank. profits are the mother's milk of stocks, and it's a global beverage. and despite sinking home sales, a topic we're going to get to later in the show, our friend instead of an abrams sees railroad and freight company indicators that show up a pickup of inventory rebuilding that will create more production and real output. those are old-time. rail and freight cars. and i think truck tonnage, as well. and then as a special gift to ben bernanke, a ve

i'm larry kudlow. welcome back to "the kudlow report" where we believe capitalism is the best market to prosperity, including king dollar, and king dollar is a game changer. this is my thoughts on the news of the day. the re-emergence of the u.s. dollar. it could be, it could be a major game-changer. go ahead, roll that tape. let's see that thing from washington and wall street. think of this out of the blue, all the dollar bearess at the beginning of the year and the gold bulls have been completely and utterly wrong. why is this? bernanke's monetary restraint, nope. tim geithner's monetary sense? nope, it's greece and italy and the euro which has dropped 12% with no end in sight and gold is off 12%. the broad dollar index is up 10%. that reverses a huge 17% drop from last march to last november. you know me. where love king dollar. you cannot have a growing healthy free market capitalist economy without a reliable currency. i learned that from ronald reagan. this king dollar story lately is a little we

. >> i'm larry kudlow. an historic vote to overhaul the nation's health care system. we'll look at the big winners and the big losers and debate whether the prescription for america will kill or fuel the stock market rally. >> hi, larry. i'm melissa francis. google set to announce its next step in china. will the internet giant pull out? we'll tell you what that would mean for shareholders and rivals microsoft and yahoo!. this is "the call" on cnbc. >>> stocks making a comeback, erasing earlier losses. health care among the sector of leaders on the back of that historic vote. energy stocks also leading declines. the dollar also getting a pop on concerns about greece. take a look at the s&p 500 right now. it's up. barely positive on the session, about a third of a percentage point. climbing well off those lows we started at on the open. the dow a very similar story right there. near the highs of the session right now. 42 points. and the nasdaq trading higher by about 0.6%. dollar versus euro chart, this is what's moving a lot of action. earlier today a ten-month low fo

. >> i am larry kudlow. i was worried about melissa defending that mortgage intervention but we squared it off the camera. i'll see everybody tonight on "the kudlow report" at 7:00 p.m. "power lunch" is up next. >> bye-bye. >>> all righty. fired up about housing. welcome, everybody, to power lunch. i'm tyler mathisen. it is a friday on wall street. the dow up again after yesterday's late day swoon. a higher close today means the industrials will have posted gains for 17 of the past 21 days. the tortoise rally back alive and well. >> i'm sue herera. housing welfare or war fare? the president is out with a new plan to help struggling homeowners. is aiding underwater and struggling borrowers the right fix or just kicking the can down the road? >>> i'm dennis kneale. bernard madoff the fallout from the crime of the century still leading to foreclosures. >>> we'll toss to the market action right now and bob pisani kicks it off at the new york stock exchange. nice, green day, bob. >> yes. financial s holding up pr

. >> i'm larry kudlow, see you tonight on "the kudlow report" at 7:00 p.m. eastern. and "power lunch" is up next. >>> welcome to "power lunch." we are live from the cti and you just saw the big, wide pan of the wireless conference. the wireless revolution is here. why does this matter to you? you see this? this is a laptop, this is a phone. but the distinction is dead. it's over. they are now one in the same. that's what this conference is about. all about how we do business and how we communicate. for the next two hours what it all means and how you profit from it. head honchos from sprint coming up and you see the big movement and tyler, it's exciting. >> you bet it is, michelle does vegas. i'm tyler mathisen the move towards dow 11,000 taking a breather so far today but bank of america, general electric and breauxing a boeing all bucking that down trend. >> i'm sue herera, should you be bullish on health care? a number of money managers say, yes, you should. that straight ahead and here's what else is on the menu. >>> i'm jane wells in las vegas. 28 locations put

. >> i'm larry kudlow. see you tonight on "the kudlow report" and "power lunch" is up next." >>> welcome to "power lunch." i'm steve liesman. cnbc has obtained excerpts from treasury secretary tim geithner's speech this afternoon. he says it's a defining moment on the debate on health care reform. he says if we fail to act america will lose the opportunity to set the global agenda. financial regulation, he says, is a test of the nation's capacity to deal with complex and consequential problems. he warns against amendments that would weaken the bill. and he very, very strong rhetoric here, listen less to those whose judgments brought us this crisis. listen less to those who told us they were masters of noble financial innovation. he will not accept a bill that does not have strong protection for consumers. and he says the bill must contain -- constrain risk taking by big firms and protect the economy from risks. so, tyler, strong words from the treasury secretary here in a speech he will give later this afte