ylan, thank you so much. ylan mui on capitol hill. >>> wellt the imp of the shutdown was on the minds of business leaders who were gathered at the world economic forum for its annual meeting in davos, switzerland. >> it's extremely negativ if is shutdown depose on much longer. firstly at a human have 800,000 families affected by this. this is just not the way tul u.s. sbe working. and i truly hope the leadership of both sides com w to some of resolving what seems to be a relatively straightforward problem. >> certainly if it were t sustain itself, it would be a very high concern. it is a concern for all of us. we want our government operating. i haven't seen yet a big impact on the business,he category sizes, but do i think it will over time? certainly if it would wextend. do a lot of filing with the fcc and it is slowing down ipos and tax refunds. as far as reducing the gd in the long term i think there are bigger issues. the thing it does is undermine the confidence people have in the government the next tw

ylan, we look forward to that.o doubt heated exchanges in the house. >>> time now for a cnbc news update with sue herera >> hello again here's what's happening that the hour two senate bills to end the partial government shutdown failing the pass the first was a republican proposal to fund the wall. the second a democratic proposal to reopen the government without money for the wall both fell short of the 60 votes needed to advance the legislation. >>> three farmer from upstate new york giving what they can do to help unpaid workers a did the albany international airport with potatoes, bread, eggs and steaks to tsa and faa workers. >>> california officials investigating the cause of the october 2017 tubbs fire including the possible culpability of the pacific gas & electric determined it was caused by a private system and pg&e surging on the news and the company said it faces what it calls quote potential significant liabilities. >>> and high winds toppling a rocket in south texas. the winds knocking the nose cone

. >>> ylan mui has more on this. >> that's right. kevin hasset tried to put news in broader context, saying global economies are slowing u.s. is growing faster than other economies, and that's going to effect large multinationals like apple. >> you look at u.s. multinationals, it is natural their profits to the extent generated in china would be going down, but the good news is put pressure on china to come to the table and make a deal. president trump mentioned at the cabinet meeting that he is expecting a lot of good trade news this year. >> he said he sees a lot of room for positive gain. he also talked about recent market volatility, and blames what's happening overseas for the turmoil. >> i speak regularly with people on wall street this is something that people have been seeing coming for a good long while. and it is one reason why you can go back and look at tv clips in december that i was saying the chinese economy is slowing, one of the reasons why markets are responding like they are is people are downgrading earnings forec

. >> likely to face opposition from the president and as ylan mui ports, the longer the shutdown goes on, the harder it is for furloughed orrkers. >> rr: david ardello works for the food and drug administration and now o is of the 800,000 federal employees not getting paid. >> these h thingsappen so we try to prepare. >> cooking at homestead of ting out. deciding which cable and tv subscriptions to cut. he even considered returning some of presents he bought for his family. >> somef them i felt were a little too costly for me to have ent the money knowing that this might happen. i dec hed toe for the best and, yes, i've been tempted to return them but now i don't have the heart to do it. >> thege b banks areep stping in to lend a hand, wells fargo reversing any overdraft fees for federal employees. and chase set up a dedicated hotline. some local credit unions are promising zero interest loans. thousands of its members have signed >> helping them through this time especially through the holidays and going into the new year. we wanted to give them that level of comfort. >> meanwhile a

as ylan mui reports now the labor market is showing its strength in different ways. >> zach mueller is unemployed. but he is not stressed about it. >> the economy has been nice and strong. f andl like for someone here in d.c., someone with a graeeate deike there are a lot of options available. j mueller quit hisob three weeks ago. he has ha n job lined up but didn't want to start right away. that makes him what the labor dbt calls a job leave. v someoneuntary ending employment to try something new. roughly 840,000 workers fell into that category in december. that's a big jump from the previous month. and it helped drive the unemployment rate up from 3.7 to 3.9% even though kpps were hiring like crazy. the economied added a whopping 312,000 jobs in december almost twice that eected. busine owners like barbara martin who runs a mechanicing firmay ner desperate to fill positions. >> we are doing a lot of jobpo ings across different website than we have in the past. e are engaged with a couple of recruiters for key positions. we are posting the jobs on social media. and we are just doing a

ylan mui is in the nation's capital. >> reporter: it's a shdown breakdown. president trump calling a aeting with democrats at the white house today total waste of time. he tweeted that he asked if he would approve his border wall i they reopened the government. when nancy pelosi said no, he said bye-bye. vice president mike pence said trump won't back down. >> i think the president madeos hision very clear today, that there will be no deal without a wall. >> chuck schumer, the top democrat in the senate, accused he president of literally walking out of their closed door meeting in the situation room of the white house. >> again, we saw a temper tantrum because he couldn't get his way and he just walked out of the meeting. >> reporter: the both sidesday when sought to shore up their base. democrats said that president trump is manufacturing the a cris said that he cares more about the border wall than federal workers. meanwhile, trump paido visit capitol hill today to sell his shutdown strategy to gop lawmakers. there had been some grumbling amongst moderates

for "nightly bu ness report" ylan muish in gton. >>> delta loses altitude. thethat's where we beg market focus with the airline saying it's not able to raise fares as much as had been expected. and it warned fourth quarter it revenue will be slightly below the prior forecast. creating concerns thathe major carrier also struggle to maintain profitability in year. delta shares were off nearly 9% today to 45.61. and the news sent shares of other airlines low as well. american, united, continental and southwest. >>> starbucks is facing stiffer competitio china. chinese coffee start yum lucken now plans to openst,500 new es in an effort to overtake the number of starbucks locations in the world's second biggest economy.es shell more than 4% on starbucks today to $61.53. >>> consumer products giant johnson & johnson said today that sales in india fell by 3% over the past 12 months. j&j has been grappling with the stringent medical device policies and the controversy surrounding talcu powder has prompted safety inspections across the country. the shares fell 1.5% t

right now as ylan mui reports, there is still no end in sight. >> no paycheck, no peace. no paycheck, no peace. >> reporter: federal workers made their frustration with washington crystal clear today. in protests and rallies across the country, they demande end to the government shutdown, as they are set to miss their first paychecks tomorrow. >> how long do you think our ople can afford to come to work? you know, we're required to come to work. you have to pay baby-sitters, you have to payor gas in the car. >> reporter: it could be quite a while before government workers n e moneye bank. shutdown talks are stalled in washington, and democrats say ey no longer trust the president's word. >> the president just keeps upping the ante. he's moving the goal posts so many tthes they're out o stadium. >> reporter: today president trump took his case for a border wall down to texas amid what he says is a humanitarian crisis of illegal immigration. the trip is fueling speculation thateche president willre a national emergency and build the wall without congressional approval. >> i

i'm ylan mui in washington. >>> leading the dow higher today was boeing. the stock was up mor than3.5% despite reporting slightly fewer deliveries than expected i 2018. boeing also said that the backlog of orders has actually grown. as phil lebeau reports, that's welcome news for shareholders. >> reporter: for all the concerns on wall street that airplanecommercial business may be flying into a rough patch, 2018 orders and deliveries paint a different picture. while boeing fell justf short its guidance for deliveries last year, the compa still s a record, turning over 806 planes customers. the increase due in large part to the company's most popular model, t 737. last year boeing raised production of that plane to 52 a month, and it's scheduled to hit 57 a month this year. even more important for investors, boeing'soo order grew by almost 900 planes year. despite concerns the president's trade war with china could hurt business, boeintill sees strong demand from chinese that's important, because one out of every four planes in boeing's order bk is schedule

for nightly business report, i'm ylan mui, washington. >>> trade and china are te wined which is why developments in the world's second largest economy are closely watched by investors around the gleb. eunice yoon in ij beijing. >> the trade war dominated market sentime in year. and ubt whether the u.s china work out a trade deal will be a major theme in 2019. the tariffs truce between esident trump and xi expires march 1st. beijing could replace the made in china025 industrial strategy by then addressing washington's criticism and potentially stopping rising tariffs fromou hurti economic growth here. second expect more system stimuluss measu but targeted beige something wary of the dangerous of too much debt. china's economy has been slowing for reasons unrelated to the trade war like a governmen campaign toen rein in financial risk. and finally, investors will be able to buy for kmienz stocks. the government wants foreign money to come in china would lining the shanghai exchange to londs london and the s&p dow jones indices plans to add chinese shares to the global benchmark in sep

ylan has more from washington, d.c. >> reporter: the senate is

expected to be the breakthrough these workers say they need in order to start getting paid again >> ylan, we heard the president is going to try to deliver the state of the union address this back and forth with pelosi goes to the negotiations that may or may not be happening to open the government, period. but he'll now have a big platform in which to take his message once again to the american public. >> well, it remains to be seen whether he'll appear in the house chamber. just this morning after the democrats held their weekly caucus meeting, the chairman said it's very unlikely that the president would be on the house floor if the shutdown continues. we have not heard a response yet from nancy pelosi. in order for the president to speak on the house floor, it would take a joint resolution that passes both chambers of commerce haven't seen that resolution come up. it hasn't passed yet until then, we're still in this tit-for-tat that has characterized the entire nature of the discussions around the shutdown >> that's true ylan mui, thank you. >>> here's what's straight ahead on "the e

ylan mui is at capitol hill with the latest >> this is built as a briefing and not a meeting.t gives you the sense of distrust on both sides democrats and republicans are worried of getting burnt here. in the past they thought they had a deal with the white house that did not pan out democrats do have a serious office that's on the table they plan to reopen the government which they plan to vote on tomorrow would fund the department of homeland security february 8th to give them time to continue these discussions. they would open the rest of the agency and fund them through the end of the year. nancy pelosi, she sent out a letter to her colleagues yesterday and she said this. we are giving the republicans the opportunity to take yes for an answer. senate republicans have already supported this legislation if they reject it now, they would be comply sit icite. president trump treatweeted ove weekend, let's make a deal, question mark. later on he went onto say the wall is being paid by mexico he also said that democrats don't care border security and sara huckabee sanders said t

. >> ylan, thank you if per that the u.s.s in danger of losing its aaa credit rating if the shutdown continues we will talk to the ceo at fitch later in the show. >> federal reserve releasing their minutes from the december 19 minutes some gradual increases in benchmark fund rates would be appropriate and the fed can afford to be patient about further policy firmingly >> minutes with downside risks ahead including sharper than expected slowdown in growth, and escalation in trade tensions tightening the financial conditions also. >> let's bring in michele meyer, chief economist at bank of america. i was surprised to see the patience and muted inflation and it sounded like jay powell last friday and not at the news conference from which the minutes came from that meeting what is going on here? how do you make sense of all of this >> yeah. i agree with that. it could be that jay powell in the actual press conference, you know, maybe he did not exactly strike the tone he wanted to subsequently he corrected himself and we heard th

ylan, thank you very much for that still ahead here on "closing bell," v a. com jumping into the streaming wars with a big acquisition. what bob bakich said about that. >> and tim hockey joins us on the back of his company's earnings report. we'll discuss the market volatility, impact of the shutdown and so much more. stay wh itus what do advisors look for in an etf? itus don't just track an index, help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. ♪ hawaii is the first state in the u.s. to have a hundred percent renewable energy goal. if we don't make this move we're going to have changes in our environment, and have a negative

so, right now it's really a philosophical argument that's tough to solve. >> ylan, thank you good to>> good to see you, too. >>> apple taking a shot at tech rivals it's happening at ces, the consumer electronics show in vegas. we'll show you billboard the company put up on the side of the hotel that's making waves next as we head to a break, though, here's a look at the biggest premarket winners and losers in the dow right now. back in a moment ♪ ure is not an option. more than half of employees across the country bring financial stress to work. if you're stressed out financially at home, you're going to be too worried to be able to do a good job. i want to be able to offer all of the benefits that keep them satisfied. it is the people that is really the only asset that you have. put your employees on a path to financial wellness with prudential. bring your challenges. whai tell clients, etfs can follow an index, but which ones target your goals? it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputation

ylan mui. >> the president discarded two potential and unpopular solutions. a national emergency to build it without congressional approval but republicans couldn't agree on where to take the money from. second was an idea from lindsay graham to reopen for about three weeks, try to make a deal on immigration and border security, and then if they couldn't, then call the national emergency. but earlier today, trump said he wasn't a fan of the plan >> that was a suggestion that lindsey made, but i did reject it, yes. i'm not interested i want to get it solved. not just delay it. i want to get it solved. >> nbc news reporting the administration is preparing for the shutdown to potentially last into february. back over to you >> thank you very much ee ylan mui in washington. >>> china's economy, the trade war is beginning to hit hard >> analysts expected a slowdown in the pace of growth, but that was a shot for the market. chinese exports and imports falling sharply in the month of december holding up relatively well with chinese goods to beat that tariff increase

thanks to ylan appreciate it very, very much. >>> coming up, ford ceo teasing a big surprise coming nextear. figured it's not going to be like a fancy flex or something it probably has to do with electric vehicles. phil will join us live from the detroit auto show with that story next as we head to back, here is a look at the biggest prewinners and losers in the dow. ♪ minimums and fees. they seem to be the very foundation of your typical bank. capital one is anything but typical. that's why we designed capital one cafes. you can get savings and checking accounts with no fees or minimums. and one of america's best savings rates. to top it off, you can open one from anywhere in 5 minutes. this isn't a typical bank. this is banking reimagined. what's in your wallet? [kno♪king] ♪ memories. what we deliver by delivering. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. the m

president trump is set to give a primetime address on border security ylan mui with more >> reporter: still dealing with the shutdown here at home. the president tweeted he plans to address the nation tomorrow night at 9:00 p.m. eastern he said his talk will be about the humanitarian and national security crisis at the southern border as this shutdown drags on into its third week. also happening tomorrow will be the end of the trade talks in beijing. leading that delegation has been deputy u.s. trade rep jeffrey garish followed by others that have a big stake today, commerce secretary wilbur ross said on cnbc that the u.s. sees this as a binary option reach a resolution or ramp up terrorists and he said china finally realized the same thing. >> china now understands how dependent they are on us zte was a very big wake-up call for china. i don't think they had truly realized how much their high-tech companies depended on american ones but you remember when we cut ctu off from u.s. supply, they essentially shut their doors. >> one challenge for the u.s. is that all these agencies that a

people, democrats are making their case to the public but neither side is talking to each other. >> ylan, thanks again. about seven hours away from hearing from the president. >>> lots of cool gadgets at the consumer tranelectronics show how about a $1400 skateboard there's serious business too and jon fortt is standing by with the ceo of ibm jon. >> kelly, thanks and there's some fun and wow stuff with ibm too quantum computer, also some new stuff and ideas around a.i. and the weather. the ceo of ibm, thanks for sitting down with me just after you got off the stage after delivering the keynote. >> thank you, great to be here. >> news out of washington, ibm is one of the top companies as far as federal government contracts, about a billion dollars a year you tend to get in terms of that so i'm wondering at what point in terms of length on this shutdown, at what point does it start to have an impact on businesses like ibm that do business with the government >> i think first a couple of points on that we've done work with the federal government for a very long time so we are accustomed to

ylan, thank you. ylan reporting to us from washington, d.c.ap this morning starting with stocks kicking off that big week, and, of course, we're doing it with a big selloff. caterpillar is weighing on the dow after reporting weak results and a weak outlook we'll break down what's in store for wall street this week. >> deteriorating macro economic conditions shares of nvidia plunging after citing december's volatility. >> brewing up a bid. former starbucks ceo howard schultz is thinking about running in 2020. >> first up stocks plunging to start the week dragged down by the weaker than expected earnings from caterpillar. also nvidia tanking after cutting its guidance on economic conditions in china. it is the busiest week of earnings season. tomorrow results from pfizer and apple. later in the week, we'll hear from giants microsoft, boeing, mcdonald's, facebook, amazon and more investors are also preparing for the fed kicking off their two-day meeting tomorrow it will wrap wednesday with a rate decision and a news conference get ready. powell i

. >>> the government shutdown now in it's 12th day ylan. >> reporter: congressional leadership will beding to the white house for a briefing on border security that will happen at 3:00 p.m. and include lawmakers from both parties, republicans and democrats. it will not include the press or any tv cameras, so we'll see if they are able to make any progress behind closed doors democrats say they have a plan to open the government and plan to vote on it tomorrow that would fund the department of homeland security through february 8th it would fund the rest of the affected agencies through the end of the fiscal year nancy pelosi tweeted this about the shutdown on new year's day she said that trump has given democrats an opportunity to show how we will govern responsibly and quickly pass our plan to end the irresponsible trump shutdown now, the white house says that this democratic plan is a nonstarter because it doesn't include any money for the border wall but there is some sign here in washington that the pressure is growing on lawmakers to find a solution as the shutdown really begins t

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 are going to be supporting me democratic proposal to go through february 8th. but keep funding levels unchanged and not include any wall funding senator murkowski says she's going to support both proposals. but with if both of these measures fail, where do we go from here? mccarthy is calling on leadership from both parties to get together, lock themselves in a room and not leave until they have some sort of deal that's not that different from what we're hearing now with moderate democrats in order to reach some type of compromise that could be presented to president kelly right now these are ideas. there's a lot of talk, but there's not a lot of traction happening here on the ill. >> this is like what tyler was saying last week we need a conference or committee or something simpson bowles or something on this but stay right there let's bring in jimmy on this as well with

ylan mui, thank you very much. back to marc and joe, if they're still there. look at this government shutdown, it seems like the democrats have taken the position that we'll talk about the matters of border security and barriers and so forth. and a more comprehensive look at immigration. once the government is reopened, that is a predicate, but the president, if he goes along with that, would be throwing away his biggest bargaining chip. >> that's right. that's right right now the president has no -- that's a nonstarter for president trump. he wants to talk about the wall. he looks at the polling numbers that support him, certainly among his base, support among republicans and he knows that he has the support of many republicans and a majority of his base to hold on to keeping the government shutdown until congress will that uck alk to ht border security and border wall. i don't think this impasse will end anytime soon auntil they com to a conclusion they can agree to with regard to funding with the border wall. >> marc morial, final -- go ahead, pick up, marc

back over to you >> ylan mui, thank you no shortage of news today. the point you made about 2016, the other thing we saw was a slowing and concerns about slowing in terms of the china economy. >> exactly the oil crash. you had a recession. china slowed down and restimulated we've seen it play this way and had an earnings recession in the u.s. if we're going to get that, we're on the front edge of it. i don't think the market is priced for a decline right now but a lot of those echoes are there. oil prices trying to firm up and all the rest of it we're later in the cycle i do think that's why powell wanted to go back and emifphasi we've done it before that is enough to give us a lift in the market. >> and we did go a long way from neutral to maybe we need to redefine what neutral is which in itself is quite a shift the dow and southwest both up nearly 3%. the nasdaq up nearly 4%. there's still a lot of trading to go. we're only at the halfway point of the day >> higher for the week, too. with that, david, thanks for being with us. sarah, mike, we'll s

would receive back pay when the shutdown ends whenever that date may be back over to you guys. >> ylanyou said earlier we're in shutdown meltdown phase at the moment have you got a word ready next week if it gets worse? >> i don't know. wilf, i have to think about it over the weekend maybe they'll have a solution by then. >> let's hope that they do ylan, thank you very much. >>> meantime, ceasar's jumping on a report that icahn is taking a stake. hi, leslie. >> hey, wilf sounds like what happens in vegas caught the attention of wall street. carl icahn taking an interest in the gaming interest. david farber saying there's a stake in caesars and that news a day after reports surfaced that starboard value, the hedge fund led by jeff smith srks building a stake in mgm resorts cnbc has not independently confirmed the moves but why are activists so enthralled by casinos all of a sudden? they look for turnaround strategies at cheap prices and plenty in that industry. caesars shares plummeting 46% last year. mgm slumping 28% activists like to pounce in times of uncertainty that gives them a be

for b"nightlyiness report," i'm ylan mui. >>> oil prices are b creepingk towards $50 a barrel. saudi arabia plans to make shoe cuts to its crude exports in n effort to push prices higher. lift have gotten a between the easing of trade and economic concerns so domestic crude settled up today about 1%. >>> eli lilly is pushing further into the cancer drug industry. the pharmaceutical company is buying loxo oncology for $8 billion in cash making this the second health care deal of the new year. both focused on cancer. lilly's ceo says it will help the company trese the dis globally. >> we'd like to grow our presence in oncology. g we haved set of medicines there, but we'd like to expand that because there's so much exciting science for patients emerging in oncology. so many things to invest in. attracti articularly the kind of problem causing the tumor growth and block it directly. >> loxo soared on the news 66% and eli lilly's shares also rose. >>> our next guest hopeshat this year may be the world of kedicine finally outsmarts cancer. conroy is the ceo of a company called exact

trade rep and for that we go to ylan mui. >> reporter: we do have an official statement from the u.s.china discussed ways to achieve fairness, reciprocity and balance in trade relations between the two countries. it said that any agreement must be subject to ongoing verification and effective enforcement. the statement says that the talks also focused on china's pledge to purchase a substantial amount of agricultural, energy, manufactured goods and other products and services from the u.s. it said that the officials conveyed that president trump is committed to reducing the u.s. trade deficit with china no raw characterization though of how these talks went. chinese officials have said that the talks were serious and that they hoped they would be productive and constructive. the next step is expected to be higher level meetings, perhaps cabinet level meetings, but the official word from the ustr is that next steps have not yet been decided back over to you >> ylan, at first glance does the fact that the talks focused here on the chinese buying stuff sound like a disappointment? does i

white house officials tell cbs news some aides want the address ad take place next tuesday as ylanned, while others favor a rally outside washington instead. >> the opportunity to end all this is staring us right in the face. >> reporter: with government workers set to miss their second sycheck this week, the senate's republican leaders scheduled a vote for thursday on the president's latest proposal. the bill includes mr. trump's wish for $5.7 billion in border wall funding. in exchange, some so-called "dreamers," young people brought here illegally as children, would get three years of protection from deportation. but house speaker nancy pelosi, after dropping by the food bank, said the bill was no compromise because it was the president who eliminated those protections for dreamers in the first place. >> the president took it away, and now he's saying, well, i'll give you this back temporarily if you give me a wall permanently. >> reporter: the f.b.i. agents' association warned today that the shutdown could lead n me f.b.i. agents to consider career options that provide more stabil

carl >> ylan, thanks for that yewy in washington after the headlines from the president welcome back,street. i'm carl quintanilla with sara eisen and david faber. markets in a bit of a tumble down 124 on pretty weak breadth. tons of headlines, whether it's the shutdown or the onslaught on its way of q4 corporate earnings. >> that's where we're going to begin this morning with the markets. welcome to earnings season, and it's welcoming with a selloff. coming off of a strong week of gains. here with us at post-9 is executive vice president at pimco and and the head of the wells fargo investment institute who just lowered their 2019 estimates, paul. is it because all these companies are coming out and giving mixed signals on guidance >> we're look being at the macro picture and seeing growth a little bit slower than we thought it might be, and there's probably some feedback loop negative from all the bad sentiment in december in feeding through into consumer sentiment, business sentiment you may see that reflected in these earnings reports and as far as future orforward guidance from the

. >> maybe they'll have the state of the union after after ylan mui, thank you. >>> the longer the shutdown continuing, the likely it is -- this comes as -- in 28 years in the snowy mountains of davos, some of the top minds in business are warning that a -- >> the peak happens typically four to. >> i don't know where that came from >> we'll have a slowing of the economy, in europe, and you're going to have a slower commission in other places that will have an effect the main thing is a global slow down is being forecast emergen markets. >> global slowdown seems to be what everybody agrees with steve liesman is here as well. by the way, steve, last year davos was --let's not bury the lead on the good news. as you know, it's not the biggest part of the gdp, but they are the biggest part in the growth that decline is meaningful for global growth. >> let's talk to mr. rutledge about that. sometimes i think people complain that they -- and then they use it. the fact is service it is are still doing okay, but a lot of that debt is dollar denominated. when you u.s. dollar goes up and when the inte

ylan, thank you for that. >> thank you. >>> all right.2 minutes here before the closing bell. solidly rallying here with the dow up 158 points. s&p up 24. that's good for almost a percent. small caps are really shining in today's action tech's doing well today, as well up next, an exclusive interview with larry summers with an alarming economic warning out today. >> and later, more from my exclusive interview with secretary of state mike pompeo his thoughts on brexit and theresa may's leadership we're back in a couple you always pay your insurance on time. tap one little bumper and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪ >>> welcome back there's the dow up 143 the swing up, the high down 131. the final half hour o

. >> news regarding speaker pelosi the president and the upcoming state of the union for that to ylanthe state of the union address expected to happen on january 29th nancy pelosi says that because the secret service has been unfunded, they're part of this furlough and the shutdown, she says they have been the lead agency scheduled to handle the security, the planning, the coordination of this event, she's now asking the white house to work together to find another suitable date after the government shutdown ends for the state of the union to occur. guys, we'll let you know if and when the white house responds, right now, pelosi asking president trump to reschedule the state of the union >> either reschedule or deliver it in writing, right she points out in this letter that a state of the union has never been delivered during a shutdown >> right i don't know we ever had a shutdown during a state of the union. perhaps that's a moot point. the political issue here is that democrats don't want the president to come to capitol hill if the shutdown is ongoing and use it as a bully pulpit f

let's bring in our ylan mui who has been covering this shutdown.re day 20 what are we watching for next? >> the president said that compromise is in his vocabulary but that's not what we heard him talk about in those ten minutes or so on the south lawn of the white house. the president is right that republicans are unified right now behind him there has been a full-court pros by the vice president, jared kushner, the legislative director at the white house to spend a lot of time on capitol hill making sure that rank and file republicans are behind their strategy we viau it yesterday when only eight republicans defected and voted for the democratic bill to reopen the treasury department in the house of representatives. only eight republicans voting for that bill. there was some thought that perhaps more could defect and vote with democrats, sole right now republicans really staying in line with the president and that might be good for him politically, but in terms of either side then moving towards the middle, i think that's very bad news right now

ylan mui joins us with more. >> the shutdown is now tied for the longest in history and it is all butounding in on the crisis at the border the president meeting today on border security. and this comes after he toured a patrol station in texas yesterday and held a round table on immigration >> it's all common sense and nancy and chuck know that. look, they're not winning this argument they're losing they know it it's not about an argument and politics for me. it's about doing the right thing. >> right now the only plan "b" is for the president to declare a national emergencies so he can build a wall without congressional approval republicans don't love this idea, but no other options have emerged just yet lindsey graham says that democrats' refusal to negotiate has left them no other option. in a statement he said, i hope it works meanwhile, hundreds of thousands of federal workers will miss their first paycheck today there have been protests and rallies across the country guys, it is quite possible that this is not going to be the last paycheck that thoseworkers miss back over to yo

this week let's get to ylan mui for more good morning >> good morning.ped up, they go on for one more day all of the signs so far are positive wilbur ross on cnbc this morning said the white house looks at this as a binary decision he says china has come to that realization as well. >> china now understands how dependent they are on us i don't think they had truly realized how much their high tech companies depended on american ones. but remember, when we cut ct off from u.s. supply, they essentially shut their doors. >> ross outlined three layers to any deal first, immediate trade, reducing the deficit by increasing u.s. exports. second, structural reforms like addressing intellectual property theft. and finally, enforcement measures to ensure compliance. on the chinese side, the foreign ministry is saying that beijing has, quote, good faith in the negotiations yesterday on his way to camp david, president trump said he has a good relationship with president xi and thinks good things are going to happen guys, we'll see if day two is good as well back to

ylan mui is in washington.o be watching that. >> reporter: none of these proposals are expected to pass, but it is a way for senators to take a public vote how they think the shutdown ought to end. the republican proposal is border wall funding and extended protections for young undocumented immigrants. it includes some things for democrats, disaster relief, extension of cash aid benefits and extension of violence against women. it would keep funding levels unchanged. they've put disaster relief money in there as well we'll see how the votes end up fairing. there could be defections on either side. meanwhile, growing pressure on nancy pelosi in particular to start laying out the parameters for some negotiation in the future some house democrats are calling for her to set a date certain for a vote on border security and immigration in the house, once the government is eventually reopened. there are also democrats that are calling on her to start a bipartisan summit where leaders get down, hash this out amongst t

weird i guess it's not the economy, stupid and i don't mean you but -- that's the old expression, ylan yes, i'm familiar with it. >> i guess it's not the economy. obviously because that 63% say wrong. obviously the unemployment rate is not good. >> part of the government coming back into -- back to work is we'll start to get some of the numbers where we can find out exactly what the impact of the shutdown on the economy has been i think that maybe people felt and clearly the 800,000 workers who weren't getting a paycheck felt that the economy wasn't looking so great because, you know, they weren't able to spend money they didn't know what their finances were going to look like. so, you know, the economy didn't look too great for them. >> how we see what's actually happening are two different things it can be self fulfilling. i saw a poll about nancy pelosi's negatives went higher she had a rough -- did you see that anyone anyone bueller, no? ignore that. >> i think that a lot of people felt like pelosi was the winner in this fight, but i did think it was notable that nbc's poll showed

ylan mui is in washington with more on this season's tax uncertainty. >> reporter: tax filing season business. but it could take some time before the agency is fully operational. the white house tried to make getting out refunds timely one of the priorities, so even during the shutdown they recalled tens of thousands of workers to get ready for the season the only problem is roughly half the workers didn't show up either they couldn't be reached or said they couldn't afford to come to work because they weren't getting a check to pay for child care or transportation even now that the shutdown is over, one worker said the irs suspect going to be ready to be sending out refunds immediately. >> we don't go from zero to 60 in one day it is going to take time to ramp things back up so i can't help but feel that refunds will be >>> child credit or setting. stacked by humans rather than computer >> reporter: even at the irs it's not just about refunds, it's also about revenue collections. $2 billion in tax revenue won't be collected because of the shutdown they said that is money that's lost

ylan mui is joining us with a look at whether the president's announcement could end the shutdown >> the ball is now in the president's court. he will be giving that speech from the oval office drawing on the full power of the presidency to make the case for the border wall as an issue of national security now, this afternoon lawmakers from both parties are huddling on capitol hill talking strategy and next steps ahead of his remarks. democrats are determined not to let this president dominate the news cycle they are holding press conferences my lighting tsa workers are who are on the job but not getting paid and also the impact of food stamp, farmers, fhs isn't processing loans so the big question here, where do we go now one path out is for the president to declare a national emergency and build the wall using that authority, but even democrats are split on whether he has that power. >> and i guess the concern is if congress has the power of the purse, is the president interfering with the separation of powers here by using it how likely is it that they might pursue that line again

. >> ylan, is there any sense of when the shutdown might wind down does it go as long as the state of the union address >> it is quite possible that it goes that long i think what democrats are arguing at least for funding for other federal agencies beyond the department of homeland security there are proposals that senate republicans have supported in the past. this is their attempt at sort of reaching the lowest common denominator. they want to leave the department of homeland security as a separate item of debate, because clearly that's where the big sticking point is. >> ylan, thank you very much >>> the first day of 2019 trading picking up where we left off last year. a lot of volatility. that's the watch word. the dow starting the day down nearly 4400 poi00 points. should we expect more wild swings in the new year and what should you do with your money? bill stone with avalon adviser and michael vogel sang president and ceo with boston advisers michael, i'll start with you as you passed along some notes that seem interesting to me and relatively hopeful you point to two things.

support for this plan, perhaps he'll change his mind it is a long shot but at least they're asking >> ylan, they were talking about how there's just a few days left in session, even once we get back up and running to talk about the government this year because we're already halfway through the fiscal year. and then we have to talk about funding for 2020 it's starting to remind me of rolling blackouts, right >> absolutely. the concern here, i think, for the market s s is all of all of these spending issues get mushed together we have to deal with the debt ceiling which comes back into force after march 1st. alsoey is quest y isequester. there's a lot of big budget decisions on the plate and not a lot of time to get them done >> do they need the president's approval to raise the debt ceiling? >> they do >> so even if the house and senate came together and said we've approved this, president trump ultimately needs to sign off on it? >> the house signed a measure that would suspend the debt ceiling once they pass a budget resolution but the senate would have to sign off on that >> every day it

you've lost share, ylan. to fold now which i think that's a turning point. what do you have >> joe, the shutdown has now turned into a meltdown talks were called off after a confrontation between house speaker nancy pelosi and president trump in the situation room of the white house. trump tweeted this version of how it went down he called the meeting a total waste of time and that he asked pelosi if she would approve the border the ball he reopened the government nancy said no, i said bye-bye, nothing else works chuck schumer, the top democrat in the senate, said democrats were ready to negotiate until the president literally walked out of the meeting. >> the president just got up and walked out he asked speaker pelosi "will you agree to my wall?" she said no. and he got up and said "we have nothing to discuss and " and we walked out we saw a temper tantrum because he couldn't get his way. >> today president trump will get a briefing on immigration and security that's part of messaging this issue as about sa

the government shutdown now into its 26th day let's get to ylan mui.eled on capitol hill now both the house and the senate will stay in session as the shutdown near. food safety inspections, housing assistance the irs just posted its shutdown filing season which will begin on january 28th. it's calling back 46,000 workers. to help process returns and pay out refunds. the administration has said it does not expect any delays in getting those out. democrats also insist the shutdown is not delaying their agenda today they plan to produce legislation to raise the minimum wage federally to $15 an hour by 2024 now, compared to some of the other proposals we've seen from democrats, this does look pretty tame leadership is backing this along with progressives like bernie sanders as well as moderates like the blue dogs guys, this legislation sets a baseline for any democrats interested in 2020 and it was what they would rather be talking about instead of the shutdown. >> that's kind of crazy. the idea anybody thinks they should be doing anything right now other

president trump slamming democrats from the oval office in a primetime speech from the oval office ylan>> if anything, both sides appear to be even more dug in on the shutdown president trump doubling down on his demand for a border wall saying there's a crisis of heart and soul at the border framing this fight not just about politics and money but about right and wrong. >> how much more american blood must we shed before congress does its job this is a choice between right and wrong. justice and injustice. this is about whether we fulfill our duty to the americans we serve. >> hundreds of thousands of federal workers will miss their first paycheck in a couple of days and democrats are using the heat to reopen the government while the two sides are talking about border security. >> we promised to keep government shut down for months or years no matter who it hurts. that's just plain wrong. the fact is we all agree we need to secure our borders while honoring our values. >> president trump has said he is considering declaring a national emergency to build the wall without congressional a

up 287 for the dow at the 10-year you'll see we've been sitting around 2.6% >> let's get to ylan muionth. >> 312,000 jobs. nonfarm payrolls jumped by 312,000 jobs in december the unemployment rate also rose to 3.9% up from 3.7%. average hourly earnings increased as well. up 11 cents to $27.48 that's a 4% increase month over month and 3.2% increase over the year. there are some big revisions from previous months november jobs number was revised upward 155,000 to 176,000 jobs october also up 237,000 to 274,000 jobs combined, that is 58,000 more jobs than had previously been reported the three-month average for job gains now stands at 254,000 jobs it was also a record month for job gains in health care that sector added 50,000 jobs. that is the most ever since the labor department first started reporting that big sectors include restaurants and bars and construction jobs up 38,000. the labor force participation rate ticked up to 63.1% up from 62.9%. the unemployment rate for adult men, that went up to 3.6% from 3.3% the unemployment rate for blacks also up. 6.6% from 6% the previous mon

ylan has the latest from washington. >> reporter: well, the trade talks will go on for a third day and that was an unexpected move. china had allotted just two days for these meetings the u.s. had left the time frame open so the fact that they're sticking around to get more work done appears to be a pretty good sign another potentially positive development, there are reports that the follow-up meeting is already in the works and that one would be between cabinet level officials such as ambassador lighthizer, secretary mnuchin and the vice premier reports are that would happen later on this month. no word whether it's in beijing or washington. the u.s. trade representative's office says there is nothing on the official schedule right now. but we are expecting to get a statement once this current round of talks wraps up tomorrow the headlines out of beijing are that the two sides narrowed the differences between them remember, the u.s. sent china a list of 142 requests, so a very long list for them to work through. they also made progress on purchasing u.s. goods and services that's what

ylan, thank you. >>> let's bring in mitch daniels, the former omb director from president bush and facednor of indiana. welcome, governor. nice the see you how does this end? >> oh, i suppose it will end as it has before with a making good, making whole of the workers with some disruption but probably less economic effect than some people are speculating. you know if history's any guide, people will be paid retroactively even for work they didn't do. it's not good practice and one can hope it will come to an ending fairly soon. >> who do you think has the stronger negotiating position as you look at it now, president trump or the democrats >> i'm going to leave that to you. i suspect that the public will show increasing impatience and rightly so with this -- with the intransigence on both sides. when's different about this time from past shutdown stare downs is that it's not over fiscal policy you know, if it were about our out of control spending, out of control debt, one could at least understand the use of the leverage this way. but over a policy issue of this kind, i don't think -- i

our reporters are following what it means to your money ylan mui, let's start with you >> congressionaldership from both parties are at the white house right now for a briefing on border security they will be hearing from officials from i.c.e., cbp, local law enforcement. this meeting is being held in the situation room and members of the media are not invited however we do know what president trump is thinking because he gave that free wheeling cabinet meeting earlier today. he talked about the need for the border wall and he talked about a cry are sis of illegal immigration and when he was asked how long the shutdown could last, he said as long as it takes he said that he believes that the american people are behind him in this. well, democrats, they don't believe that the american people actually back the president on this they will take the president to task when they intend to vote on a bill to reopen the government tomorrow once democrats take control of the house now, the president also said that he believes that nancy pelosi is one of the people to blame for this i spoke with na

ylan has the latest. >> reporter: it is now day 24 and we are officially in the longest shutdown in u.s no movement today. the president is on his way back from new orleans where he did give a speech and this morning he took the idea of declaring a national emergency off the table and said it would be too easy and said in new orleans democrats in congress need to do their jobs. >> i'm asking the citizens to call the democratic lawmakers and ask them to pass a bill that secures our border, protects our country and now reopens our government because as soon as they do that, we reopen our government. >> reporter: while he was speaking, the top democrat in the senate chuck schumer tweeted this he said, u.s.d.a. can't pay out aid in the trump shutdown. farmers can't get loans. mr. president, if you want to help, reopen the government. meanwhile, the economic toll is rising s&p puts it at 1.2 billion off gdp each week and may not account that in the 2013 shutdown the u.s. didn't provide export certification for beer, wine and spirits i call that an unhappy hour. back over to you >> always goo