Transcripts For FBC FBN AM 20151221

Record debut for the force awakens. Were home. New star wars movies Smashes Box Office records 238 million. Nicole Everybody Loves chuy. Welcome to fbn am, your first look at the latest markets and breaking news and what to expect on your day ahead. Six people are in critical condition. Initial reports had come out that there was gunshots, that is not true. There was no gunshots up here. It wasnt an act of terrorism. That we know. Authorities say that a threeyearold child in her vehicle luckily not hurt. Nicole republican front runner slamming rival Hillary Clinton calling her a liar. This after clinton claimed isis uses video to recruit new members. She just made it up. But just like Bernie Sanders lied. He went out and said things that never took place. I didnt say that about mexicans. I have great relationships with the hispanics, i didnt say what he said. They make up things in the world of politics. Theyre all talking and no action, theyre politicians. Nicole trump posting a tweet. Hillary clinton lied when isis uses a video as a recruiting tool. False. Not refer to go a specific video, hes been used in social media by isis as propaganda. This is what they do, they monitor isis on social media and they monitor other terrorist groups on social media and they have said that they are using him in social media as propaganda. Nick mick make sure to mark your calendar for the next fox business Republican Debate. Thursday, january 13th right here on the fox business network. Dont miss it. New hampshire closing all schools in the city after a threat of violence directed towards two high schools. Police administrator received an email yesterday. A similar threat shut down schools in los angeles last week. Nicole new developments into the investigation of the San Bernardino terror attack. Enrique marquez, set for his Second Court Appearance today, hes charged with conspire to go provide Material Support to terrorists in 20112012 and charged with charging the rifle and he faces up to 35 years in prison if convicted of all the charges. Police have also detained one person for questioning, Authorities Say investigators are still trying to establish what connection they may have to last months deadly attacks in the french capital. Breaking this morning, president obama giving a yearend interview with mpr, topics ranges from isis to the legacy that he will leave behind. The president telling that he stands behind statements and domestic terrorists are bigger threats than islamic terrorists. If you look at the numbers, then nonislamic, nonforeign motivated terrorist actions have killed at least as Many Americans on american soil as those who were promoted by jihaddist. Nicole the majority of americans, 58 think the president is not prepared to do whatever it takes to fight islamist extremist. All right, stocks plunge on friday, it was expiration, so what can we expect for the rest of this year, 2615 is coming. Chief economist joins us now by telephone. Steve we dropped and bouncing back some, volatility seems to be the name of the game, but what are investors supposed to be thinking after we got the rate hike . Steve thats a very good question. Janet yellen said she wasnt going to allow growth to accelerate and an environment where corporations dont have pricing power, you are capping out corporate profitability, and corporate profitability hasnt been that good. Shes not setting a good positive tone going into the early part of 2016 and thats the unfortunate part. Thats kind of overvalued at this point. Weve got the National Average of gas falling to 2 bucks of gallon, is it too late to be optimistic for a socalled santa rally . Steve she proved that shes more of a grinch than santa claus. Nicole 34 handle and some of these banks are exposed to the highly Leveraged Energy company. Can you tell us about the financial sector. A lot of people are investing in financials which are supposed to go higher when rates go higher. I think what you have to be careful is which space you want to be involved in. Nicole which one you want to be involved in . Steve some of the Regional Banks that have a substantial exposure to that particular patch, the energy patch, that was one of the areas where the Regional Bank was suppose to extend, they have been restructuring loans for over a year, the move below forty dollars a barrel, opening up 30 is a real possibility which is another 30 decline is a problem for them. I think it is going to cause them to have to reserve against the islams which are going to crimp their profitability and equity values. What would you advise investors to do, a lot of nervousness with the sharp drop and vol al tillty nicole mentioned. Should we hold tight and we allocate portfolios . Steve a lot of people are not terribly exposed. Defensive trades are the more likely to be proved to be better performers in 2016 as they intended to prove to be as we are ended 2015 as well. Grabbing dividend paying stocks, grabbing the basic defensives, utilities, getting involved with some of the consumer staples, those are the areas where you want to focus in 2016. Thanks for coming with us and enjoy your input very much. We will be waiting on a lot of economic reports. Thanks, steve. Steve thank you. Apple ceo sended off tough questions on 60 minutes last night. Cook asked about accusations that she moved business overseas to avoid paying tax code. This is a tax code, charlie that was made for the industrial age, not the digital, its backwards, its awful for america. It should have been fixed many years ago. Its past time to get it done. Cook said theres nothing to charge to avoid paying taxes. Nothing to the charges, i should say, that apple has a scheme to avoid paying taxes. That is total political crap. Theres no truth behind it. Apple pays every tax dollar we owe. In profit last quarter and twothirds of its business is overseas. Nicole right, the stock is in bear market territory. People are not happy about that. Toshiba fell almost 10 in seven months, 4 billiondollar loss. Loss is related to accounting scandals, layoffs of business units, it will discloses plans to restructure the money as early as today. Big news on the economy last week when the fed raised Interest Rates. We have economic reports. Tomorrow we will have the third and final reading of Third Quarter gdp. The number may fall from earlier estimates. Also tuesday existing home sales, durable goods, personal income and new home sales. Thursday the weekly report will be released. Nicole and we are closed on friday, christmas. Cyberspace gaining access to the control system of a small damn less than 20 miles from new york city two years ago. And u. S. Probes, complaints there, regulators investigating complaints about laboratory and Research Practices at the bloodtesting Startup Company. A new chapter in saga. Controls viacom and cbs. The force has awakened. I have it. My sister hasnt. The new Star Wars Film shattered box office and franchise records. We will have details of the space saga opening weekend. And in sports a nasty gain but the panthers remain undefeated. We will have the highlights from all the action. Youre youre watching fbn am, first look at morning markets and breaking news. There are stories about what would happen. Thats true. All of it. Lori oh, yes, all of it is true including those box office records, did you see it . Everyone saw it. Probably saw it twice. Blue past the competition. Keep in mind all of the numbers are in todays dollars. The original star wars trio, the most at 54 million. Now the prequals, revenge brought in 131 million in opening weekend. Thats still 100 million short of the force awakens. Passes Jurassic World. That was 2,008,000,000. Here is how the rest of the top five played out. Alvin and the chimpmunks. 17million worldwide. Nicole my kid saw a lot of those. Lets take a look now at the world of sports. The cardinals beat the philadelphia eagles. The win gives the cardinals nfc west crown with 12 and 2 record. The cardinals can clinch a first round with a win against the packers and can grab the first seed if they win out and the panthers lose the first game. They remain absolutely perfect. Win did not come easy, they held off the new york giants record tieing 28point comeback. Beckham was penalized three times for roughens including helmetto helmet hit. He could potentially face fines. After the first half of the play, but the steelers rally for 824 victory. He threw for 380 yards and three touchdowns. This is the second game in a row that the broncos have not scored a single point in the second half of play. Thats sports for you. Lori there you go. Exciting stuff. Donald trump fires back at Hillary Clintons claim that isis is using him as a recruiting tool. They make up in the things in the world of politics. Theyre all talking and no action. Lori apple ceo tim cook calls notion that the company is avoiding taxes is crap. Dow giving up more than 600 points in the last two sessions. Nicole 150 points to the upside a time ago. Lori youre watching fbn am, first look at morning markets and breaking news. Lori breaking news, one person death after driver plows in las vegas. Nicole donald trump on the attack once again calling Hillary Clinton a liar. She just made it up. Just like Bernie Sanders lied. Lori record debut for the force awakens. Were home. Lori that scene brought tears to my ice. 238million. Nicole and in sports the battle of the birds. Cardinals top the eagles in sunday night football and the Carolina Panthers battle through some nasty play to remain perfect. Lori welcome to youre watching fbn am, first look at morning markets and breaking news and what to expect on your day ahead. Nicole donald trump slamming democratic rival Hillary Clinton calling her a liar, this after clinton claimed isis used video of trump to recruit new members. Just like Bernie Sanders lied. I didnt say that about mexicans. I have great relationships with the hispanics, i didnt say what he said. They make up things in the world of politics. Theyre all talk and no action. Theyre politicians. Nicole clintons Communications Director defending the comments by her boss. Hes being used in social media by isis at Propaganda International group which monitors, this is what they do. They monitor isis on social media, they monitor other terrorist groups on social media to see what they are using and they have said that they are using him as propaganda. Nicole get a pencil, get out your phone, mark your calendar, on thursday january 14th right here on the fox business network. All lori closing all schools in New Hampshire after direct violence directed to two high schools. Police administrator received a email threat and state and federal agency are working to determine the credibility of that threat. Nicole former president jimmy carter sharing brief over his grandsons sudden death. Mr. Carter made the announcement. 28yearold carter had not been feeling well, took a nap on saturday but his heart stopped shortly afterwards just two weeks the 91yearold former president of the united states, announced at the same church that he was cancer free after treatments that he was taking for cancer. Lori thats too bad. Wishing them all well. Officials saying more than 90 people missing after the landslide, happened in the chinese city. The areas reportedly covered with 20 feet of mud. The landslide happened when a mountain of oil and other construction waste became unstable. Nicole before you head out the door lets get a look at your monday morning forecast with fox meteorologist maria molina. Good morning, maria. Maria hello, everyone, we are tracking two storm systems, one of them is pushing across the midwest today and bringing in rain across states like indiana and illinois. So pretty active pattern, but as you head further west wife a system in the west, but the Higher Elevations are going to get with snow, many areas expecting to see more than 2 feet of snow including places like the Washington Cascades and down to the california sierra, rockies, colorado and utah, very heavymountain snow. There will be a flash flood threat specially in parts of northern california. The temperatures across the u. S. Have been mild for many weeks now and that continues, in chicago 50degrees for your High Temperature today, you are going to be in the upper 40s in cleveland and in new york 54degrees. Lori and nicole enjoy. We will take it. Maria you have to go out west. Lori thank you. Nicole we will have the latest on that. An epic fail at the Miss University pageant as steve harvey crowns the wrong winner. What . We will have the details. Dow are up about 150 points, youre watching fbn am, first look at morning markets and breaking news. With pas every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet .  . n .  .  . How else do you think he gets around so fast . Take the reins this holiday and get the mercedesbenz youve always wanted during the winter event. Hurry, offers end january 4th nicole latest space exflight was postponed over the weekend. Flan launch of a falcon 9 rocket with 11 Communications Satellite was moved. It was 8 33 p. M. Eastern time tonight on twitter spacex, said analysis showed ch considered a secondary environmental mission. Pretty cool, right . Lori when it came time to announce the winner, host steve harvey mistakenly named miss colombia, he had to come back on stage and he made a mistake and the real winner was miss phillipines. Miss universe. Lori it got even worse. Watch it be placed upon the head of miss flip pins, harvey did apologize and said it was his mistake. Nicole how does that happen, how does that happen. Lori trump is not running the pageant. Nicole its good press for it. Miss colombia is very, very upset im sure. Lori sympathy for her that will ultimately help her career. Nicole coming up donald trump fires back at hick that isis is using him as a recruiting tool. They make up things in the world of politics. They are all talk and no action. They are politicians. Nicole we have the latest of the campaign trail. Political, say it we will have the details. Youre watching fbn am, first look at morning markets and breaking news. Nicole breaking news this morning, one salesperson dead, dozens hurt after a driver plows into pedestrians on a sidewalk in las vegas. Good morning, everybody, im nicole petallides. Lori great to be with you, nicole, im lori rothman. Donald trump calling Hillary Clinton a liar. She made it up. Just like Bernie Sanders lied. Nicole record debut for the force awakens. Were home. Nicole new star wars movie Smashes Box Office. We want to welcome you to fbn am, first look at whats looking in todays markets and breaking news and what to expect on the day ahead. Lori a car plows into pedestrians, one person killed an dozens of others injured. Six people in critical condition. Initial reports had come out that there was gunshots. Thats not true. There was no gunshots out here. Second, we know that this was not an act of terrorism, we ruled that out. Those are two things we know. Lori we also know details, the accident happened near planet hollywood. The driver is being held in the clark county jail. A 3yearold inside her vehicle was not hurt. Nicole donald trump slamming democratic rival Hillary Clinton calling her a liar, this after clinton claimed isis uses videos of donald trump to recruit new members. She made it up just like Bernie Sanders lied. She went out and said things that never took place. I never said anything about mexicanses, i have great relationship with the hispanics. They make up things in the world of politics. Theyre all talk and no action, theyre politicians. Nicole meanwhile clintons defended. They have said that they are using him in social media as propaganda. Nicole put it in your calendar, today mark your calendar for the next Republican Debate thursday, january 14th, right here on the fox business network. Lori massive landslide in china. 90 people are missing. It happened in the southern chinese city, now this area covered. You can see up to 20 feet of mud. Authorities say initial investigation show the landslide happened when a mountain soil cement chunks became unstable. Nicole closing all schools in the city after a threat of violence directed towards New Hampshire. State and federal agencies are now working to determine the credibility of that threat. Lori new developments of the San Bernardino terror attack, enrique mark, the man who bought the assault rifles set for Second Court Appearance today. Hes charged with conspiring Material Support to terrorists. Marquez is also charged with illegally buying the riffles as well as visa fraud stiming from his marriage tui russian woman. He faces up to 35 years in prison if convicted of all these charges. Nicole belgium authorities expected to reveal more of a house in brussels that may be linked to the paris attacks. Authorities say investigators are still trying to establish what connection they may have to last months deadly attacks in the french capital. Lori authorities are questioning four people after a does sish pus device was found in the room of a air france flight. The airline said the object was analyzed and found to contain no explosives when all was said and done. Nicole president obama giving a wideranging yearend interview with mpr, the topics ranges from isis to the legacy that he will leave behind. The president telling steve that he stands behind his statement that domestic terrorists are bigger threats than islamic extremists. If you just look at the numbers, then, nonislamic, nonforeign motivated terrorist actions have killed at least as Many Americans on american soil as those who were promoted by jihaddist. Nicole comments coming as a fox news polls find the majority of americans, 58 think president obama is not prepared to do whatever it takes to fight islamic extremists. Lori former president jimmy carter sharing brief over his grandsons sudden death. Mr. Carter made the announcement in georgia. 28yearold carter took a snap but his heart stopped later. Thoughts and prayers for the carter family. Nicole indeed. Stocks causing all sectors, enthusiasm of longwaited increase of Interest Rates, we had that and now its faded. What can we expect for the rest of the year. We bring in someone that knows who hes talking. Gary, we saw selloff for two trading days and more than 600 points. Futures are higher now. We know volatility is the name of the game, but whats going on . What do we think Going Forward . Gary lets just preface everything. Everything i say is going to be kind of on the negative side, people on the other side can find positive things, i just think theres more negative things going on. Number one which often viewed as a positive is this collapse in oil, at some point you have to say, wow, maybe theres just not a lot of demand for oil out there which tells me the economies across the world are kind of weak. That and the recent Manufacturing Survey that came out from kansas city feds, the point is manufactureing indices whether youre looking at number of employees, orders, shipments, are all down, thats the second that tells me the economy is weak, if the economy is weak and its going to affect the stock market. Lori we have gdp coming out, youre expected a slow or continued at that. What would be the indicators . Gary i normally look at the three same kind of things. Number one what is the Labor Force Participation. That has been weak all along regardless of what the unemployment figures are. Thats the number one thing to look at. Number two, our are people making money . Wages have been still kind of flat, almost ten years and number three is housing prices, i think theres still a lot of people under water certainly from 2007. I think housing is going to get weaker, thats going to make people feel a lot poorer and spend less. As far as yeah f we are talking about my market forecast, well, this morning looks great. I will give you that. I think its going to leave a lump of coal in peoples stockings. Nicole first we are going to get income and spending numbers. Wage growth has been minimal at that. Big picture, though, what are we missing. We know that the feds are going to probably increase rates gradually maybe little bit by little bit. What are we missing here . We can see the numbers and we can see that theyre not that great. Gary to me if youre looking at it objectively, we are not missing a whole lot. I guess it was donald said we dont know what we dont know. No one saw the internet coming. No one saw the collapse in oil prices coming. So what we dont know is what is the you know, the big event going to be for 2016. I dont know it. Maybe its something, maybe you know theres some new technology out there we dont know, maybe someone comes out and finds a way for cars to run on no gasoline, i dont know, i think theres something out there, hopefully something good and then, you know, maybe can look back and say, boy, that gary was way to grayish. Lori give me a sense of what the Asset Allocation pie should looked like . Are you putting more into cash, more into government treasury treasuryies, what do you think . Gary im about 50 invested. I think it sounds so old school because if people diversify a little bit into technology stocks, even into oil stocks as bad as they might be, international stocks, but again only with about 50 of your equity and then if we really, you know, if i am right and we go down 1015 then start to employ the rest of the cash. Nicole tenyear yield is up, for technology it was one of the worst performing sectors of last week. You liked the stock a couple of weeks ago, maybe you like it even better. As far as Labor Force Participation rate, do you think itll ever come back . The birthrate, you have to be fast here, its not going to match up so we will never get back were . Gary since we are short on time, i have to say i agree with you. Nicole gary, fox news contributor, we thank you for you insight this morning. Gary you bet. Lori well, ceo tim cook was on last night, apple moved much of the business overseas to avoid paying taxes. Cook blamed outdated tax code. This is a tax code, charlie, that was made for the industrial age, not digital age. Its backwards, its awful for america. It should have been fixed many years ago. Its past time to get it done. Lori no truth to congress, to the charges, theres no truth to the charges that apple schemes to avoid paying taseses. Thats totally political crap. Theres no truth behind it. Apple pays every tax dollar we owe. Lori twothirds of its business is overseas. Nicole just so you know, when we talk about bare market territory, 133 on february 23rd, yesterday, friday it closed at 106. Thats a big loss there. We have big news on the economy that came last week when the Federal Reserve raised Interest Rates for the first time in ten years. We have economic reports that are worth watching, we certainly do. Third and if i believe reading of gdp. Economists believe that the number may fall from earlier estimates. Also out on tuesday a report on existing home sales. Wednesday we will have on durable goods. So the those are the weekly numbers. Friday the market is close. Lori busy week for a christmas week. Here is a look at the headlines. Iranian hackers infiltrated the new york damn, cyber of a small damn outside new york city. That happened two years ago. Then theres this. The u. S. Is probing fair, complaints to regulators investigating complaints about laboratory and resarnlg practices at the Startup Company and then theres the headline, new chapter in saga. Her position in the media empire that controls viacom and cbs. Nicole another big there. Coming up, the force awakens. I have it, my sister has it. Nicole the new stars wars chatters box office and franchise records, the space saga opening weekend. And in sports nasty game between Carolina Panthers and the new york giants but the panthers remain undefeated. Youre watching fbn am, first look at morning markets and breaking news. There are stories about what happened. Troos true its true, all of it. Nicole star wars the force awakens blew past the competition and all of the previous titles as it raked in a cool 238 million. Now keep in mind, all of these numbers are in todays dollars of the original star wars trio the return of the jet eye. Brought in 131 million in opening weekend. That is still almost 100 million short of the force awakens. Now the record weekend for star wars passes, Jurassic World of 208 million. Here are the rest of the top five played out this weekend. Alvin and the chipmunks. Followed by hunger games and creed. The force awakens also made 517 million worldwide. My husband and two sons went overnight thursday into friday but my one son couldnt believe 18 for one ticket. So theyre going to be making good bucks on this one. Lori i took my daughters, six and eightyearolds, they were total bosses, movie lives up to its hype. Horrible mistake last night at the Miss Universe pageant. When it came time to announce the winner, steve harvey mistakenly named miss colombia. The real winner is miss flip pins phillipines. I have to apologize. The first runner up is colombia. Miss universe 2015 is phillipines. Lori okay, theyre both so gorgeous. Its going to be even better than it had gone smoothly. Poor miss colombia had to suffer humiliation of having her crown removed and watch it placed upon miss phillipines. It was all his mistake. Nicole thats terrible. Lets take a look at the world of sports. Arizona cardinals beat the eagles on sunday night football. The win gives the cardinals afc crown. Palmer added a passes td. The cardinals can clinch a first round by the packers and can grab first seed if they went out and the panthers lose two games. Speaking of Carolina Panthers, they remain perfect. The win did not come easy, they heldoff the new york giants, 28point comeback by a score of 3835. Beckham, jr. And norman got vicious throughout the game. Beckham was penlzed three times for roughens including this, watch it, helmettohelmet. Lori nasty. Nicole meanwhile the Seattle Seahawks have clinched their spot in the playoffs with 3013 win over the browns. Hot start with the browns but struggled later on. He ran into referee as he was trying to scramble and make a play. Yikes. Thowrt straight season that seattle makes its way to the playoffs. Lori right back after this. Stick around. Nicole lets take a look at u. S. Stock index futures. After two days in selling, 600point loss for the dow. S p up 140 points. Two weeks of selling for the dow, lost over 700 points during that time. Actually closed at a twomonth low. Some of the key players, we are watching apple, 20 off the high, closed friday, 106. Oil under pressure once again this morning while gold is gaining. We are watching treasury yields as well. Dont forget the 10year yield has been up. We are also going to be watching for gdp and existing home sales, as far as earnings, this week we have earnings, we have looking at nike, those will be some of the movers and thursday we will get job claims. And for the next few hours you have Maria Bartiromo taking you through with the crew there and mornings with maria begin right now. Maria happy monday, everybody, im Maria Bartiromo. Monday december 21, kickoff to a holiday short week this morning. Anthony scaramucci and right now we have breaking news of a car plowing into pedestrians on the Las Vegas Strip last night killing one person, injuring 37 others, police are ruling outer risks but local authorities are claiming that the act may have been intentional. Right now from what we know we are looking at it as possibly being intentional. Maria yeah t female driver turned herself in shortly after the tragedy. Las vegas boulevard has been closed. Donald trump with a commanding lead on the republican field. Trump jumping 11 points since just last month and double doubling support. Trump slamming Hillary Clinton with the claim that he has become isiss recruiting tool