that requires the s.e.c. and department of justice to rely on general anti-fraud provisions in the law to go after people suspected of insider trading. i would like to urge the chairwoman and ranking member to reflect on the words of a u.s. district judge, who said, if it is to be deterred, it must be defined. the appropriate body to do so, one would think is congress. thank you for your hard work on this bill and take it to the next step to make it clear that insider trading is a crime for the lack of confidence that it generates in our capital markets. with that, i thank the chairwoman and the ranking member and urge passage of h.r. 624. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from north carolina. mr. mchenry: i'm prepared to close. the speaker pro tempore: the entleman is prepared to close. the gentlewoman from california. ms. waters: i yield two minutes to the gentleman from from illinois. the speaker pro tempore: the gentleman is recognized.

worse, the s.e.c. is unable to hold bad actors accountable through most enforcement actions, preventing harmed investors from obtaining relief. but the importance of the s.e.c. goes beyond ensuring the rule of law. businesses that are looking to enter the public's stock markets may have to delay their initial public offeringings -- official because the s.e.c. cannot approve their -- offings because the s.e.c. cannot approve their documents. they are left in legal limbo until the s.e.c. can get back to work. the trump shut down is jeopardizing the integrity of our financial markets and our hard-earned savings of millions of americans. so let's end this trump shut down and open the government so that the s.e.c. and other agencies can get back to work on behalf of the public. mr. speaker, members, i appreciate some of the comments that have been made about the fact that we have been able to work together o, both sides of the aisle, on the financial services committee, working on such things as the jobs act

that's the s.e.c. pprove the application since the agency is not open for regular business. the staff cannot review and declare effective any registration statements. that's a major problem this delay could come at a very bad moment for i'm ppo hopefuls. equity markets have stabilized in january, a necessary pre-requisite for the ipo market and the ipo etf, a basket of the 60 more recent ipos, it's rallied 10% this month, far outperforming the s&p 500 indicating investor appetite for ipos is in fact returning. still, some cops are trying to forge ahead, so, for example, several biotech companies filed to go public just this week and one company that had already filed, this is new fortress, in an integrated gas to the power company, they announced terms for their ipo on monday. that's very important. the company is essentially already out on a road show selling its ipo and theoretically it could go public next week if the s.e.c. makes the registration effective the problem here, carl, is there any one at

, 600 points 2 to 3% that's a clear indication there's some sort of a market structure issue, so the s.e.ctigate, i think, and look into why there's this volatility it's not fair to everyday investors or all investors, really, and it just goes to the fair and efficient markets we have >> the s.e.c. upda >> it's different. >> doesn't that speak to market structure as well? the same circumstances that lead to a rise in the dow of 3% on thin volume, why wouldn't you investigate that, if it's really on the basis of market structural issues, why not investigate that >> for one thing, it's about market loss. investor loss. while i think that's important to look at too, it's more important to look at the loss because you have things like the high frequency trade-off, for example. you have traders to get out early and once they come around, to come up and buy in low so they sell high, buy low and the average investor will act more quickly than the highfrequency trader and lose more money and with volatility, everyday investors are confused by that they hear, oh, apple is doing well so maybe buy or

worse, the s.e.c. is unable to hold bad actors accountable through most enforcement actions, preventing harmed investors from obtaining relief. but the importance of the s.e.c. goes beyond ensuring the rule of law. businesses that are looking to enter the public's stock markets may have to delay their initial public offeringings -- official because the s.e.c. cannot approve their -- offings because the s.e.c. cannot approve their documents. they are left in legal limbo until the s.e.c. can get back to work. the trump shut down is jeopardizing the integrity of our financial markets and our hard-earned savings of millions of americans. so let's end this trump shut down and open the government so that the s.e.c. and other agencies can get back to work on behalf of the public. mr. speaker, members, i appreciate some of the comments that have been made about the fact that we have been able to work together o, both sides of the aisle, on the financial services committee, working on such things as the jobs act

that's because the s.e.c. is down they're going to have a workaround to declare a price and go public in 20 days without the s.e.c.'s input another company may do the same thing tonight. new fortress energy is set to go public postpone the ipo or announce this same workaround this is a lot of risk here going around the s.e.c number one, you got market risks. they have to wait 20 days before they go public and secondly, there's legal risk if they mess up the application, the s.e.c. could come back to them later and ask them to essentially do it all over again. that's a bit of a risk right now. that shows you how desperate people are getting. >> for sure. thank you. bob pisani watching that for us. >>> now to the latest in the government shutdown. the senate is scheduled to vote on two bills today neither are expected to pass but lisa murkowski now says she'll back the democratic spending bill ylan mui has more. how big of a spend is this >> if you see any defections, it's likely to come from republican who is a

the s.e.c. s been chronically understaff and then to come back on the job and have this backlog of cases and litigation that's been deferred in the courts, that's a lot of work to catch up on >> that's a great point. we'll be talking about this more next hour. also viacom's ceo. we'll see you soon >>> here's what's coming up on "the exchange. >> ahead -- the state of housing with the chairman of lennar. amd's ceo on the stock's recent downturn and why crude has comeurng sgi back this year and if it will last. >>> welcome back it's time for rapid fire here with their takes are morgan brennan and guy adami and scott wapner shares of constellation brands falling after the company gave weak guidance for this year and is pushing into the cannabis market but wrote down the growth >> doesn't seem like a big deal but maybe their business has been declining for the last couple of years and the reason they got into cannabis is because they had that vision and visibility and did this hail mary 15 times forw

nissan is confirming it is cooperating with the probe by the s.e.c. ng investigated in connection to pay disclosures by former chairman carlos ghosn. "the wall street journal" says that probe is just in the early stages both ghosn and nissan are charged in japan for underreporting his income for years. >>> and rescue crews are continuing to search fortune hundreds of people missing after a mining dam burst in brazil triggering a landslide the death toll has risen to 58 it is expected to keep climbing. the dam is owned by mining giant and they say this disaster happened even after the company followed safety recommendations from experts. >>> back in the u.s., costing us more for drivers to fill up their car. average price of gas inching up 2 cents over the past two weeks to 2 .33 a gallon after gas fell by 64 cents. big turn around there, brian over to you. >> 2 cents, frank. can you get more specific? kidding. see you in a bit thanks >>> check on this morning's other top headlines outside of the world of money and business. phillip mena in new york wit

it's way premature the s.e.c. still has 28 days to reply to a filing. assuming the s.e.c. reopens, government shutdown reopens, it won't even impact the ipo windows by a quarter. >> so this is not something that's really a concern of yourself when it comes to your portfolio companies. at what point does it become a concern? is it a month into the shutdown? is it two months >> i think you'll see an accordion back based on how long the shutdown is. if it's a month back, it will be a little less than a month the issue is, i think the mega deals, the ubers, the lyfts are going to get done regardless of market conditions and regardless of what happens in the government because they're big, known companies that people wanting to buy, people might need to buy if they think they're the future of transportation if you're the next tier of companies or two tier companies down, you're not an everyday name, you won't be able to get mind sheriff thereare if there' of ipos. >> are there any companies like that in your portfolio trying to work through a plan b for 2019 >> not yet we set i

they'll take up the financial services bill, which includes funding for the treasury department, the s.e.c., and money for the i.r.s. the house live at noon eastern here on c-span. and now reaction from the white house. we'll hear from counsel to the president, kelly ann conway, reaction to the president's speech last night and reaction to day 19 of the shutdown. ms. conaway: i disrespect with that respectfully. i did what -- i think what was new for the president is taking the case to the american people. in a span of a week or so he's taken that case to the rose garden, the situation room, now the oval office. today, up in the senate, the situation room. tomorrow is the border. i mean, he is all out there because he's all in on securing our southern border. i also think that -- i didn't hear -- i agree with you, i didn't hear anything new from the democrats. i thoughts the response was anemic and a little bit partisan. here's what i didn't hear schumer and pelosi say. they can't say zero children haven't been raped, zero people haven't be trafficked, drugs aren't pouring in, we don't hav

they'll take up the financial services bill, which includes funding for the treasury department, the s.e.c., and money for the i.r.s. the house live at noon eastern here on c-span. and now reaction from the white house. we'll hear from counsel to the president, kelly ann conway, reaction to the president's speech last night and reaction to day 19 of the shutdown. ms. conaway: i disrespect with that respectfully. i did what -- i think what was new for the president is taking the case to the american people. in a span of a week or so he's taken that case to the rose

the s.e.c. is reportedly investigating whether nissan accurately disclosed executive pay in the u.s. and whether they did enough to prevent improper payments. ghosn was arrested over allegations he underreported his income. he has denied any wrong doing. lauren: google and amazon want to get into the electricity business, like competing with utilities. tracee: the two companies are looking for ways to expand their smart speakers, internet connecteconnectthermostats and r information to utilize consumer data use and ultimately the company that controls the software and systems that deliver energy could gain a powerful market position. cheryl: those devices are amazing to help homeowners at least. let's talk about the box office. kind of a big falling apart, right, is that how we describe it? tracee: we'll get to that in a minute. holding on to the top spot, a take a look. >> some of us can still bend steel. >> i've been waiting for the world to see that w he exit. tracee: glass with an estimated $

what does this mean -- for example, there's some discussion about the ipo market and the s.e.c. the white house wants to know, it would seem, what all of the unintended consequences of this government shutdown could be, how all of that could play out, and it's asking the federal agencies for their guidance on the most high impact programs that could come into play here basically the white house is trying to figure out how bad it could get if this continues into march or april, which is a very long time from now. >> wow eamon, thank you eamon javers in washington, d.c. if it continues into march or april, this is concerning the government shutdown. we haven't even gotten to a legislative agenda yet. >> it's more concerning that we're thinking about what the ramifications are and how much longer we can go not how do we get this solved. it's an -- absurd we're investigating ramifications. >> for us when we get that panic set in, it's the longest shutdown in history and you get a panic. oh, my god, what's going to happen i think a lot of this is trying to soothe the public saying, ok

the partial closure of the s.e.c. forcing some companies that are seeking to go public including lyft and uber to push back their plans. many biotech and healthcare companies are looking for alternatives to an ipo in case the shutdown lasts longer. cheryl: well, let's get to what's happening with trade. u.s. and chinese officials have ended three days of trade talks in beijing. the first face-to-face negotiations since a tariff truce was announced last month. lauren: edward lawrence has te latest developments from washington. >> reporter: good morning. the meeting in china wrapped up and they're now back here in the united states. the discussion according to the u.s. trade representative's office went well and they were able to move this forward to possibly another meeting at if end of january. in a statement released from the u.s. trade representative's office, they said, quote, the officials also discussed the need for any agreement to provide for complete implementation subject to ongoing verification and effective

qum bert bertha coombs is there we know a lot of these companies were nervous because they need the s.e.cto sign off >> exactly, and they're working oftentimes in a shr short window, particularly when you talk about the bio tech companies. about a dozen of the companies that had moved forward to go public and file their s-1s in december were bioteches. for them they don't necessarily have the luxury to wait around to wait for that cash to come around not only that, if they had to wait any longer, they would have to re-file their numbers so the day before yesterday, gossamer filed for its ipo to do that unconventional ipo where they would actually list 20 days later automatically. they had listed it at about $16 a share raising more than $230 million people who are familiar with the markets say they will likely now re-file again, amend that as the s.e.c. gets back to work again on monday and be able to go on a road show to have the window at least until february 15th is really very important for them because that would be the cutoff before they would have to try to re-file some of their fi

i have spoken with the s.e.c. t this and they have told me they are very concerned about the fact that u.s. corporations have filed very few statements with the s.e.c. on what their contingency plans are, whether brexit happens or not. their response has been we simply don't know. this compounds the problem because now you have the potential for multiple outcomes. i think it increases the probability of near-term uncertainty, which is not what you particularly wanti, since th markets are stabilizing. >> can you connect the dots in terms of the impact and how it could come back to our shores here in the united states? you know, if there is a new government, if we have to go back to the negotiating table on a brexit deal of some sort, this sounds like a very long process, that's more uncertainty. is that a continued drag on the uk gdp, for instance, a drag on eu, does that hurt global growth, does that then impact us can you draw the lines for us? >> sure. so one thing that will be pretty clear is all this uncertaint

. >> reporter: pg&e told the s.e.c. it could be on the hook for $30 billion in liabilities, an advocacy group predicts rate payers will get stuck with part of the bill. >> the message to customers is really bad here. it's that we are more concerned with our shareholders and we are with our customers. we don't care how high your bills go, we are going to do our best to make them higher. and we are going to try to get out of the accountability that the federal court is proposing. >> mindy spratt suspects the timing of the bankruptcy filing is linked to a federal court hearing wednesday about whether pg&e has violated its probation from earlier safety lapses. tonight state senator bill doss who represents areas burned in wildfires had this to say, quote, given its track record of obfuscation and mismanagement, i'm not surprised pg&e claims it can no longer meet its financial obligations. at the same time, insurance claims are mounting for last year's wildfires. the state insurance commissioner says the total now exceeds $12

economist with the s.e.c. i'm a disabled, thanks to cancer, episcopal priest. we're in free fall, not -- in freefall, not knowing in my husband will have his job again and the health insurance we need for my crn. we need every -- my cancer. we need every penny he earns. we spent most of our savings paying off my $40,000 in cancer and cancer-related bills just last year. still, we live modestly in a 1700-square-foot old farmhouse with no central air or heat, drive a 13-year-old car and another old used subaru. it's early thursday morning, january 10, and i'm having a panic attack. wondering if i will lose my dogs if we get evicted in case this runs a few months and we run out of savings to pay our mortgage. we have no family support or backup. we have a son with anxiety and adhd issues for which we spend thousands of out-of-pocket dollars because mental health services for young people are either unavailable or don't accept insurance. please continue to pressure all your colleagues to reopen the -- to bring opening the government to a vote. working americans need

conversations with the administration and congress, do you see that coming through congress or through the s.e.c.? >> yes. what i think the most realistic thing here is transparency. these guys have been running off doing their own thing without any oversight and without a lot of common sense. they take the same proxy issue, which is defeated again and again and every year put it back in there to cause, you know, to pressure people and we just got to get down. the prox oy people have a job t do, it's a good job, as long as they are clear about who they're doing it for and who's paying them. i think it's going to be real interesting. you find a lot of good stories from us on that soon on. i got two more. all right. i will do that hand. i'm going to do three more. that hand and those two. all right. you're up. >> thank you. hi, i'm kate with cq and roll call. i wanted to get your thoughts on house democrats' political money, campaign finance, voting rights, lobbying overhaul hr 1? is that something you are all looking at and have concerns with? >> i'm going to give all that to neal after i make on

the only s.e.c. that is open is the -- the s.e.c. nd i do feel that cbs is one of the properties that seems like could it be undervalued because the nfl is so strong this year that's the bright spot in tv >> it is you're going to have people already saying, well, how much do they have to pay for the rights to keep them? a few years down the road, you want to have an understanding of that an do they need more scale in order to actually compete with the likes of, if it comes to an amazon or apple or any of the other potential entrants when that nfl contract comes up >> yeah, very good point i keep thinking that alphabet will do something. but alphabet, they barely ever show a pulse or maybe they have a pulse and they just don't talk about it. they have so much cash, when are they going to do something >> i don't know. i don't know >> strange. >> good question. >> strange worth thinking about netflix, what can i say? there is four different notes talking about how strong domestic numbers are going to be amazon, by the way, a note about h

robert frank and joined by peter henning, security law professor and a former senior attorney at the s.e.c to have you here. professor, i'll start with you what do you think is the most likely outcome here? are half of his amazon shares going to go to his wife? >> well, they're from washington which is a community property state so she has a claim to half the shares my bet is they'll work out some type of an agreement but it may require him to start selling his shares because he has a claim essentially to $65 billion that's not an easy check to write, so we could well see jeff selling shares in the near future to try to fund some type of settlement. >> what does her intentions have to do with what happens here and in other words, if she says, i want what's best for the company and a big shareholder too, does that mean he could retain control somehow too? what are the options >> one option is certainly to transfer her some shares but not the entire 8% of his holdings, come up with some type of an agreement to buy her out, but if she demands half the shares, then she becomes the second large

and the s.e.c. can't get paper work for companies going public. that will wrap things up for me. ali velshi. >> only in the best way. >> i like it. i like that it is accentuates -- >> i embrace horizontal stripes. >> do you? >> yeah, and polka dots with checks. a lot of stuff going on here. ali and i are both very tired today and it is nowhere close to end i ending. >>> mr. president, declare a national emergency now. those are not my words now, that comes from lindsey graham on twitter, nine hours from now.

. >>> coming up, the s.e.c. now wants some answers from nissan about former ceo carlos ghosn's pay. carvana, the company who invented car vending machines and buying a car 100% online. now we've created a brand new way for you to sell your car. whether it's a few years old or dinosaur old, we want to buy your car. so go to carvana and enter your license plate, answer a few questions, and our techno-wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you, pay you on the spot, and pick up your car. that's it. so ditch the old way of selling your car and say hello to the new way... at carvana. >>> welcome back >> we're doing words this morning. >> word smiths. >> words with friends. >> u.s. equities futures are lower this morning now back triple digits 108 on the dow, s&p down about 12 the nasdaq indicated off 40 so far this morning >>> nissan has confirmed its received an inquiry from the s.e.c. and the automaker says it's cooperate they're investigating nissan's pay to u.s. executives how that was disclosed and whether it did en

they said they still have plans to list this year, in fact they already filed their s-1 to the s.e.c., so the intentions are there to sell shares in the back half of 2019, so lyft also wants to go public as well and this is going to be the year supposedly of the tech ipo. let's see some comparisons to uber and lyft. i want to show you some of the numbers. either/or, whichever wants to go first, they want to be the one first in market to get more of the investor dollars out there. but as you see, uber versus lyft, uber is much bigger when it comes to valuation, when it comes to u.s. market share and also losing more money per quarter as well. now, i caught up of course with uber ceo dara khosrowshahi a few months ago in new york. take a listen. >> you look at the market as a $6 million transportation market. we are a tiny, tiny, tiny part of the market. we account for less than 1% of miles driven on the road. so i think uber can be ultimately 20, 30 times bigger than it is today. susan: 20 or 30 times bigger. you might be paying for it, looking at a valuation supposedly for the underwr

not allowed new supply into the market we were worried we would be inundated with new deals but the s.e.ccan't review anything, another positive >> yeah. does look like we're going to get tax refunds out of the irs, which is a bit of news and we'll see what the president says about the border wall and the shutdown on tv tonight by the way, talking about mood, bill miller on with kelly evans yesterday. talking about amazon, and his expectations for the next few years, take a listen >> i told you this several years ago, apple should -- amazon should double in the next three years, i would say that again right now because -- >> you think amazon could double from here, in three years? >> the top line there is going to grow somewhere in the 220, 225% range. >> doubling in the next few years. eclipsing microsoft as most valuable public company on a day where we expect sears holdings to finally liquidate >> look, i mean, we got irony on our side with amazon the problem with the doubling, i often find that when you say something is going to double, why not say it is tripling why not say it is goi

. >> it was the first time the s.e.c.r trading by one of wall street's big dealmakers, somebody with a million dollar a year salary which apparently wasn't enough. >> insider trading could become wall street's watergate. >> plea bargaining is now under way with dennis levine. authorities might be able to develop a list of new suspects. >> we start the investigation, and once his lawyer advised him that his interest to cooperate, he would give you the information. to him, it was just another deal. >> i think the judge made it clear that he would have given mr. levine a heavier sentence except for the cooperation. >> dennis levine was one guy doing insider trading and that's not something that's new. but what dennis levine did is what led to ivan boesky. >> the securities and exchanged commission stunned wall street today when it announced ivan boesky has been fined the largest penalty ever for insider trading and has been barred from the industry. >> boesky did what he claimed he would ever do, use insider information to b

since the s.e.c. d, the number of stock offerings has slowed because companies are preparing to make public offerings can't get the necessary paperwork approved. with me now is a former republican congressman from florida. you've just left office. you have said that the government chaos during this shutdown is worse than at any point in your lifetime. how do we get to a compromise? >> good morning from miami. certainly i think there's an obviously way out of this situation. by the way, i'm glad you highlighted some of the serious consequences that are a result of this shutdown. i think most americans have kind of grown numb to this whole shutdown situation because it's happened so many times in recent years. but there are real consequences out there for people. we're seeing a lot of federal workers struggling. i think the obvious way out is an immigration compromise. that won't just be good for immigration policy in our country, which we've been trying to reform for 13 years with nothing to show for it

so we have a very important relationship with the s.e.c. work to evaluate these companies, make sure the disclosures are accurate and complete then we do our work to evaluate them according to other listing standards. if they can't do their work, it's hard for us to complete ours however, with the hope the government does reopen in the coming days, weeks, then i think we'll see there is certainly less of a time window for these companies to go. but they're ready to go. >> we heard from rubenstein about that yesterday, hearing whisperings about it but there's competing -- >> well, that's why -- >> neither of which have 60 votes in the senate. >> we all have to hope this is within days. >> there's no reason to think that either plan has 60 votes though >> which begs the question if this does extend out even several more weeks, at what point does this become a hockey stick in terms of a problem for the economy, for your business, for the ipo market, for all the knock-on effects >> the first thing i would say is obviously having a government sh

playoffs the high frequency traders make the playoffs, because the ground sun fair, unlevel, and the s.e.c. doesn't know what high frequency means other than maybe like it's something like with really good bose speakers. matthew inwashington, please, matthew. >> caller: thank you for taking my call, mr. cramer. i have a question about the recent market volatility i'm looking to retire early, and i was wondering if i should wade into bonds >> i'm hitting up a symbol it used to be the only send-in i remember that was a bad one. it's called cd cds are good i saw one for 3.5% the other day. they went down today because of the beyond rates but i think you've got to be sure that they're not -- that you don't have all stock, and that you have a decent percentage of cds out three years right now. i've never recommended cds on this show other than 2007 and 2009 and even then i wasn't willing to do a lot of them because i didn't trust the banks wow. cds. thanks, jay. as we start the new year, what matters is earnings, and how bad the shortfall also be. we'll be all over this stuff all year, we'll fi

according to bloomberg, the s.e.c. xamining if the pay disclosures were accurate and if they did enough to prevent improper payments. they confirmed the investigation and says it is cooperating. this is month after two of the top executive in japan were arrested for lying about how much they were paid. >>> here's a live look at the new york stock exchange. trading gets under way this morning. we still remain significantly down. 338 points. so why? investors aren't happy with a weak earnings report from caterpillar this morning and big cut in revenue from invidia. apple and e-bay are expected later this week. hopefully better news than this morning. >>> we're learning more about the next steps about next door. the social media site connects about 190,000 neighborhoods in the u.s. now there's a focus to expand worldwide. ceo sara fryer talks with robin roberts on "good morning america" this morning. >> there's not a community in the world that doesn't want to get to know the neighbors better and just really e connecting.

if you are a bond issuer, the s.e.c. must issue a perspective. it lays the facts of your business, tells the risk factors. i did this because i thought e treasury was getting out ahead of itself. this was 1985, 1986. i i am the leading person to ask when the crisis -- one of the reasons it will not happen i can give you plenty of those. you hear a lot of people say -- i mentioned our friend the conservatives who are always invoking roe not to worry about this. our friends at the wall street journal will say, there will be no crisis. the dollar is the reserve's currency. we have the strongest economy. we are the fastest growth. we are exceptional people. we are the world's destination for talent and capital and i would dis-- i would agree with lmost all of much of that. that is the anthem of, also, an entitled people. i'm now going to quote some facts and figures which would describe many a debtor in the world but not necessarily the world's foremost financial superpower. all right. bank of america has recently done a ranking of 45 countries accord

. >> the s.e.c. is one of the agencies that if not funded -- that is not funded at the moment. o has to go through the s.e.c. and so there's a backlog and then you add into that market volatility and i think we're going to see a little bit of a pullback in terms of expectations. this was supposed to be the second most robust year at about $60 billion in new ipo offerings this year versus 2014 which was $85 billion. that was the peak. and so we're kind of expecting to see things slow down at least in the first quarter of this year. >> than circumstance it's kevin here. i think one of the fascinating aspects of this market is that we actually need these ipos because venture capital has to exit their investments. one of the best ones we've seen is twillio, over the past year it's done well i'm interested where you're looking to place capital today. we had a robust holiday shopping season. where i'm allocating money is into the industrial r.e.i.t.s. you have a gold rush for warehouse space. when i order something online, i want it in 24 hours or less. where are you putting your mone

. ♪ >>> breaking news, the s.e.c. orporate filing system according to dow jones the s.e.c. and u.s. attorney's office do have a news conference scheduled for later this morning to announce enforcement action it lasted for several months in 2016 the s.e.c. case i imagine would have to be a civil case. the question, of course, is whether this would be a criminal action i would imagine you would have to be. and if u.s. attorney's office is involved, that should be the case we got big show tomorrow, larry fink will be here. a lot more earnings. join us tomorrow "squawk on the street" begins right now. ♪ ♪ green light i'm ready to go ♪ ♪ set up a good time what you waiting for ♪ >>> good tuesday morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber. futures in a tight range as the first big day of earnings has mixed results, misses from jpmorgan and wells solid numbers out of unh and delta. day 25 of the shutdown europe is mixed. parliament votes on brexit tonight local time and empire

experts warning the shutdown of the s.e.c. uld hurt companies raising capital and conducting mergers. many who have been begun working without paychecks have begun calling in sick at major airports. the hundreds of thousands of people going without paychecks are some of the strongest supporters of his shutdown. >> many of those people, maybe most of those people that really have not been getting their money in at this moment, those people in many cases are the biggest fan of what we're doing. >> joining me now, democratic senator tina smith of minnesota. senator, after the -- after the meeting today with what schumer and pelosi had to say, what the president had to say, how long is this going to go? >> well, this is just such a waste. it needs to not go on any longer. the president needs to end this. what a waste this is for american taxpayers, the farmers waiting to get in touch with the department of agriculture, and think about what it means for the federal employees who are public servants and can't work. and i'm very focus

i think you're seeing in congress and the s.e.c. support for some of the initiatives that are clear as you said. it's just not a level playing field right now. maria: for a long time, china was really the jewel in terms of the major exchanges in the u.s. there were a o a lot of chinese ipos. has that slowed down? >> last year, we had i think it was 20 ipos from china come to nasdaq last year. we had some very large companies that came to nasdaq. so even with some of the tension we're seeing with china, the chinese companies understand that the u.s. environment is what great place to raise capital. the deepest and the most liquid markets in the world. and they want to have u.s. investors in their stock. maria: where will the growth come from at nasdaq in the year ahead and the next three years? >> we continue to see strong signals across all of our businesses in terms of demand for our data, our index performance as well as our technology performance. it's always hard to know how the ipo environment is going to play out throughout th

the japanese automaker made that comment after the s.e.c. ng whether it accurately disclosed its executive pay in the united states. carlos ghosn was arrested in japan in november. he spent two months in custody. he's a legend in the auto world. ghosn is suspected of underreporting his income by tens of millions of dollars and transferring personal investment losses onto nissan. nissan and mitsubishi fired ghosn soon after that arrest. he resigned from renault last week. a top executive at nissan has also been indicted in that case. ghosn and kelly have denied any wrongdoing. >>> long time nbc news anchor tom brokaw under fire for comments about hispanics on "meet the press." listen to this. >> i also happen to believe that the hispanics should work harder at assimilation. they ought not to be just codified in their communities but make sure that all their kids are learning to speak english and that they feel comfortable in the communities, and that's going to take outreach on both sides. >> brokaw is now apologizing for those remarks. in a s

musk had a little bit of a rough year in 2018, with the pot smoking during the podcast and then the s.e.cigation that stripped him of his chairman title for two years. tesla permabear david dietze is our countdown closer. he will tell us if he thinks musk and tesla will find open, clear driving roads this year. we'll be right back. i am not for colds. i am not for just treating my symptoms... (ah-choo) i am for shortening colds when i'm sick. with zicam. zicam is completely different. unlike most other cold medicines... ...zicam is clinically proven to shorten colds. i am a zifan for zicam. oral or nasal. . . (engaging uptempo music) - with tripadvisor finding the right hotel at the lowest price is as easy as dates, deals, done. going on a work trip? dates, deals, done. destination wedding? dates, deals, done. because with tripadvisor all you have to do is enter the dates of your stay and we'll take care of the rest: searching over 200 booking sites to find you the best deal it's as easy dates, deals, you know the rest. (owl hoots) read reviews, check hotel prices, book things to do, trip

with the s.e.c. inimal staff, those deals will have to wait, and companies may miss filing deaines. and that brings us to the analysis of shields and brooks. that's syndicated columnist mark shields, and "new york times" columnist david brooks.to helloth of you. so topic a, david, is what we were just talking about, the showdown, the government remainm governmentains closed, the democrats and the white house don't seem to agree. i mean, here we are. what are we, now two weeks into this. what are we learninout our leaders? >> well, i've talked myself int deranged by minimal optimism. (laughter) i think there's a -- substantively, i think there's a solution here, and people in the senate are talking about it,is whicthat they exchanged some money for a wall of some sort in exchpaange for ath of citizenship for the dreamers, r the daca kids. that's something that was talked about last years at much higher rates than $25 billion for thell not $5 billion, and there was a lot of momentum for it then. st i th

. >> snap just filing an 8-k with the s.e.c. which it revealed two important pieces of information. one is that tim stone, the chief financial officer and principal financial officer notified the company of his intention to resign and pursue other opportunities. this is notable because he was a big hire and he just joined the company in may so a big blow to lose him. his background was at amazon secondarily, the company also saying that it is providing some guidance for its fourth quarter and full year 2018 financial results saying we expect to report revenue and adjusted earnings results that are slightly favorable to the top end of our previously recorded guidance ranges for each so the company is reporting earnings on february 5th and this news comes ahead of that. >> slightly favorable. okay, julia. >> and they provided guidance, so this is indicating at the higher ending of that range. >> julia, thank you. julia boorstin in los angeles. >>> first of all, it's never a good thing to hear that a cfo of all c-suite positions is

with the department of transportation -- we can work with the department of transportation, with the s.e.c., with the state to be able to, while you're digging and improving a highway, either new or maintaining, you can also use hat as a way to run the high efficiency broadband into these rural areas that, if left to their own devices, is extremely ex expensive. i don't know if this is something you've thought about. i know it's probably premature. but do you have thoughts on that? ms. nason: i appreciate the question because we do spend time at the state department talking about it. it's not just 3-g plus two it's a game changer. so i think there may be interesting opportunities to save time and money for states and i would be happy to work with you on this if i'm confirmed. mrs. capito: it just seems as though we get in our own way on something like. this it's really not controversial. it's not controversial. actually i ran into a federal highway project that actually did provide the channel for the high speed internet, although there's the cabling and everything, but there was nothing i

>> if you look at tess larla, is been all over the map for me there was talks back when you had the s.e.cthis stock could be cut in half. i was one of those looking for it to be cut in half, then it rallied aggressively if it doesn't hold this price where it's at right now, this could be in trouble for them as far as cash flow and funding. >> mcdonald's. a lot of people will say potential double tops around 190 or so. valuation potentially a concern. i think mcdonald's is interesting. i think they're going to boat an i think you blow through the 190 level. >> what are you watching >> i would agree with himon that the other m amain maga is mcdonald's mcdonald's is going to give you a view on the restaurant sector, the consumer boeing will tell you what's going on with the industrial economy around the world how much was it impacted by the slowdown in december. >> speaking of tesla on deck for earnings, despite elon musk's warning of a difficult road ahead, one option is betting on a rally for the talk mike khouw >> one of the trades that stuck out today was the purchase of 1,000 of the feb

we're live in the region >>> the s.e.c. reportedly investigating nissan over executive pay.s seriously considering running for president. we'll have more on all these big or

to sell shares 15 months ago was we lost confidence in the reporting and we were concerned about the s.e.cuse part of it relates to revenue recognition in the services business and that's a huge part of the business, joe >> so what if that went -- what if the worse case scenario came to pass. what does that look like is it -- it's prior management -- or is it prior management that would be held responsible or the company would be fined what does that look like if it's not settled. >> investors will continue to lack the confidence they need to invest in the shares so they'll languish down here and steve grasso's comments probably pretty correct that it's binary. you think it's going to go bankrupt or you think it's a long-term buy here >> that's -- >> well, the whole thing is you're not looking at the numbers as you would a traditional stock on a day-to-day basis there's been so much that's been done that you're waiting for to be literally a power play the this point so it's reached peak pessimism and now you're seeing people say, okay, if we can get a little bit of momentum behind us, mayb

feel in the davos that regulators, government leaders are more interesting in what's going on in the s.e.core. >> are you bullish on the u.s. >> i am, i think people are too pessimistic, even here in davos. a 2% growth to 2.5% growth economy is very productive as you say, joe, the earnings that came out, very, very good. >> first quarter is always bad in terms of gdp and now with the shutdo shutdown when we print a .5 you're going to be like oh, my god, the taxes. >> does that mean you're investing money ointo the unite states you think things are good for the u.s. but not enough to put your money there >> i'm more bullish on emerging markets. we didn't talk about india but one of the quiet themes here is how well india is doing and is poised to do one quick anecdote their gdp per capita right now, $1800 per person sure as we're sit hearing it's going to grow to $5,000 to $6,000 i had a great meeting with the ceo of tada group. >> when hassett -- when the administration itself says zero you'll be licking your chops it could be negative for you. >> no, we want to be -- >> party not country

. >> in the fifth week of a partial government shutdown, affecting the s.e.c., the pipeline is it affecting we've asked the question many types. i think a few factors. potentially i thought there would be a cashewsage for those that have to dip into their cash savings or even their investing cash but there hasn't been any affect from that, which shows you that the cash that sits in brokerage accounts tend to be on keeping this strive for potential opportunity for investment as opposed to day-to-day cash. on the other hand, i think the government shutdown is causing some of that market activity, because people are pontificating about what that impact will be on gdp growth. will there, in fact, be a tipping point that says we were expecting 3%, whatever the number is, gdp growth and the longer this goes on it takes an affect on the overall economy and tla in ipos and the effect that has on the market ipos are loved in my business. so ta take advantage of those ipos when they happen. >> fed policy for this year as well how are you factoring in fed rate hikes this year what are you anticipating