TheStreet Live

President Trump takes a hard line on health care. He is telling the House of Representatives there will be a vote today on the health care proposal and if it doesn't pass, Obamacare will stay. He says a 'no' vote will lead to the administration pursuing other legislative priorities. Most health care stocks fell Thursday as the vote was postponed. Twitter (TWTR) says it is exploring a premium subscription service. The company says it would be just for professionals and heavy users and would give the social media network a much needed revenue stream. No word on how much Twitter would charge for the subscription. The government is getting tough on robocalls. The Federal Communications Commission approved new rules that gives phone companies more ammunition in fighting those calls. Durable Goods orders for February are reported. St. Louis Federal Reserve President Bullard gives a presentation on the economy.

The GOP is scrambling for votes on Obamacare Repeal. Insurers, Medical Device Companies and Pharmaceutical Businesses could be active today as the vote nears. It does promise to be close. If it is voted down, it could impact the entire market as Wall Street fears tax reform could be delayed. British police arrested 8 people in connection with the terror that took place in London. The New York Times reports police didn't release many details but said they do believe the assailant acted alone. 4 people were killed when the attacker drove his vehicle over pedestrians on Westminster bridge. AT&T (T), Verizon (VZ), and Johnson and Johnson (JNJ) pulled many of their ads from Google (GOOGL) over concerns it may have run alongside controversial videos. The Wall Street Journal says the companies won't put ads on Google's Youtube again until it can be ensured it won't happen again.

Sears warned that a cash crunch could cause it and its Kmart stores to go out of business unless it can get more money to operate. Payless, the struggling discount shoe chain, is said to be preparing to file for bankruptcy. Bloomberg says the company will close at least 400 stores and maybe as many as 1000. Meanwhile, women's clothing company Bebe will close all of its stores and sell items online only. Meanwhile, Nike (NKE) said U.S. retail is 'not in a steady state' when it reported earnings. The athletic apparel company missed revenue estimates. Rivals, like Under Armour are gaining market share. Nike also gave a tepid outlook on sales going forward. We are one day away from the health care vote with those in support of it perhaps not being enough to pass it. President Trump is trying to rally support among republicans but some in the GOP say the current bill is too much like Obamacare.

Stocks ended at session lows and with the worst losses of the year as the shine of the Trump rally wore thin. The S&P 500 declined by more than 1% for the first time in more than 100 sessions. The financial sector was one of the worst performers on doubts over whether President Trump can pass regulatory reform. Major banks including Bank of America , JPMorgan and Wells Fargo were the hardest hit. Campbell Soup tumbled after it was downgraded from MARKET PERFORM to UNDERPERFORM at Bernstein. The firm said revenue trends are deteriorating and that consumers are showing a preference for fresher food. General Mills fell after sales came in slightly weaker than forecast. The consumer foods company reported a 5.2% drop in quarterly revenue.

Stocks extended their decline through the morning with the basic materials and financials sector the worst hit. Indexes had started the day positive and the Nasdaq even hit a new intraday record high. Apple hit its own records earlier in the session after announcing the launch of a cheaper iPad and a special 'red' edition of its iPhone 7 and iPhone 7 Plus. The special editions will be available in stores this Friday. Lennar fell despite reporting a better-than-expected quarter driven by health demand in the housing market. Net income fell from a year earlier, though exceeded estimates by a penny. Carnival was upgraded to OUTPERFORM from MARKET PERFORM at William Blair. Analysts said the company will likely beat earnings estimates as it enjoys favorable trends through this year and next.

The changes made to the GOP health care bill are meant to appease both conservatives and moderates who have expressed reservations about the bill to repeal Obamacare. Many of the latest changes alter how the bill deals with Medicaid. The health care bill is scheduled to be voted on in the House Thursday. New flight security restrictions were put in place overnight. The U.S. Government is banning any electronic devices larger than a phone on certain international flights. The new restrictions include laptops, cameras, and DVD players. The flights are from 10 airports in the Middle East and Northern Africa and only to New York, Chicago, Detroit and Montreal. The reason for the ban was not immediately clear. Costco and Titleist are going to battle over golf balls. Titleist says Costco's popular balls infringe on some of its patents. Costco disputes that.

Stocks ended a jumpy day little changed as financials weighed on the S&P 500 and Nike and Disney hoisted the Dow Jones Industrial Average higher for most of the day. Crude slumped to its lowest level in almost a week. Caterpillar was the best performer on the Dow after posting a smaller drop in sales over the three months to February. The heavy machinery maker reported a 1% decline, its smallest since the end of 2012. Movado jumped even after missing profit and sales estimates over its fourth quarter. Sales fell nearly 9%, while net income missed consensus by a penny. Full-year earnings guidance also came in on the weak side. Tiffany rose after William Blair analysts upgraded their rating to OUTPERFORM from MARKET PERFORM. The firm said the retailer's business had stabilized.

Stocks fluctuated to begin the week as a hearing on Russia's involvement in the U.S. election continued on Capitol Hill. FBI Director Comey confirmed that the agency was investigating Russia's actions, including possible collusion with the Trump campaign. Nike gave the Dow Jones Industrial Average a boost ahead of quarterly earnings scheduled for Tuesday. Analysts anticipate adjusted earnings of 53 cents a share for its February-ended quarter, two cents less than a year earlier. Deutsche Bank fell after announcing plans to issue shares to raise 8 billion euros. The bank also said it had cut staff bonuses by 80% last year following its second straight full-year loss. Snap rose after receiving its first BUY rating from an analyst firm. Monness, Crespi, Hardt initiated with a BUY and $25 price target. The disappearing message app so far has received six SELL ratings and three HOLD ratings from Wall Street firms.

Lots of drama going on in the nation's capitol today. The House Intelligence Committee begins public hearings on Russian interference in the 2016 election. FBI Director James Comey will be testifying before lawmakers. The Senate Judiciary Committee begins hearing on the confirmation of Supreme court nominee Neil Gorsuch. Disney's Beauty and the Best blew away box office expectations, raking in $170 million in North America. That is the 7th highest weekend opening ever. However, Walt Disney has also agreed to provide $3.8 million in back wages to thousands of hotel and timeshare resort workers. It was a bracket buster weekend. South Carolina upset Duke, a 2nd seed. The score was 88-81. The Gamecocks, who before this year had not won a NCAA tournament game in 44 years, have now won 2 in a row. Top seeded Villanova also lost this weekend.

German Chancellor Angela Merkel will visit the White House today. Her trip to Washington D.C. was delayed due to the Tuesday snowstorm in the northeast. NATO and trade are expected to be among the issues discussed. Caterpillar is seeking the counsel of an Ex-Attorney General as it fights a government investigation into its import-export practices. Former U.S. Attorney General William Barr will help the company address an ongoing investigation by the government. Earlier this month, U.S. law enforcement officials raided the heavy machinery manufacturers Illinois facilities as part of an Internal Revenue Service investigation. Some supporters of President Donald Trump want to boycott Hawaii. They are taking issue with the Judge who is standing int he way of the latest travel ban. 25% of Hawaii's income is from tourism.