year in dubai and it looks like those celebrations are going off. thousands of people were expected to gather, as we can see there are still crowds of people just a few blocks away from what was the sight of this fire, horrific images that really broke out two hours before the new year celebration. we saw them here on cnbc, we saw them across social media, people tweeting these pictures. something to see. and very dramatic to happen just a few hours before -- >> and admitted a new year's of tension in some parts of the world, it was -- the celebration canceled in brussels because of some threats there. tensions for obvious reasons in paris, some in singapore and now we have this, the first thought always turns to thoughts of terrorism when you see a fire like this on new year's eve, but to this point the government is saying that's not the case. it was simply a fire that broke out on the 20th floor of that hotel there in downtown dubai and the celebration apparently continuing off. sue, do you have any more developments for us? >> the government is once again saying 14 people have been injured they're calling those injuries minor, however, a medic on the scene who was declining to be identified tells reuters more than 60 people injured, light injuries, mostly smoke inhalation and from crowding in the stairs evacuating the building. there you are looking at videotape from earlier, it was a very hot fire. the dubai government has put a lot of money into fire prevention and fire retention as it continues to build out the downtown area with those very high skyscrapers. so it could be that that fire retention and fire abatement program has actually worked quite well in this particular fire. it was a very hot fire, but they are saying it did not penetrate the inner part of the hotel, that it was -- it was contained to the outside hallways of the hotel and when you look at the video there, guys, it does look as though that's exactly the case. everyone got out, they practiced evacuation procedures all the time and there are reuters reports that they evacuated people outside of the hotel and down into the mall. there is a mall built underneath the address hotel and residences. so that could be where people were taken. it looked very orderly on some of the video that i saw and once again, they practice extensively with this. they had four fire companies respond to this particular hotel, but keep in mind there was a heavy, heavy security presence and they already had multiple fire units on the scene before this fire broke out. so they probably had quite a few units available and it burned for about two and a half hours. so -- >> fortuitously. >> exactly. we will keep you posted but right now the government official report is 14 injuries, a medic on the scene is saying 60, fire 90% contained and there go the fireworks. as they say they would. >> and here come the fireworks now for the big celebration. i guess we're pulling this from ala rain i can't television, that's why you're seeing the lower third that you are seeing. let me bring in helema croft, usually we would be talking commodities with her from rbc, but the reason you are with us now, you have stayed at that hotel and you have been in that part of dubai. do you want to give us a little color on that area and thoughts of that fire tonight. >> it's a beautiful hotel, it's the center of tourism, the center of commerce in dubai. what i always say, dubai is where all westerners when they come to the middle east, this isn't just a dubai story, this is the heart of tourism and commerce for the whole middle east and this hotel could not be more centrally located. >> you have analyzed the various risks in the region, more than any energy analyst i know. you know this stuff cold. is dubai -- we are not speculating here on the cause, we don't really know the cause at this point, there is no reason to blame terrorism at this early point, but is dubai a threat because of its location? >> i mean, i think that's what's always been the lurking concern, could you see an incident? i mean, certainly proximity to where isis operates, al qaeda operates, it's right there. i mean, there are millions of tourists have gone to dubai for new year's eve. so of course there's heightened concern about this potentially being a terrorist attack. we don't know, obviously, but dubai -- that's what they've always been very concerned about. >> this is the hotel -- i'm just thinking to the iconic dubai designs and skyscrapers, this is the one that's shaped in the fin design, correct? >> this is the one that's basically right abutting up against the man-made lake. so that's where you see -- i call it las vegas water show that they have, you know, every night. so, again, you could not get a more prime seat to watch the sort of festivities in dubai than in that actual hotel. >> and they are beautiful. >> this is spectacular. of course, this is overlooking that man-made island that's in the form of a palm tree as well. this is all very iconic stuff that they're showing off at this hour. >> oh, i mean, the emirates take tremendous pride in the architectural wonders of dubai. they take such pride in the fact that it's the center of tourism for this region. they will be very concerned about containing this story. >> keep in mind in order to be in that central plaza today, you had to be staying in one of the hotels along that plaz dpla. you had to have a pass in order to be in that central area. the general public was described barricades, you saw them earlier as we were waiting for the fireworks to go off, they were kept behind i have barriers, however, if you wanted to be near that man-made lake or in that central area you had to show a pass from either the hotel that you were staying at or a restaurant that you were frequenting for this evening's festivities, otherwise you were not allowed in. which may have been a very good thing given the fact that we had debris raining down from that hotel for several hours. >> kept the population down. it occurs to me, helema, that all of this was built to great fanfare, was built when oil was priced much higher than it is today. >> absolutely. the amazing story about dubai, though, is dubai is not an oil-producing part of the emirates, that's abu dhabi. dubai's whole reason is about commerce, it's about tourism, it's the ultimate diversification story for the middle east. >> but it speaks to the boom times that occurred earlier in that region of the world there, right? >> absolutely. it's basically -- i mean, it was there, putting their success on display and it was basically saying to the best we give you a reason to come to the middle east, see what we have to offer. >> sue, we are continuing to watch this quite beautiful show. >> yes, indeed. >> that dubai is putting on and you have to think, i mean, to your point earlier about the orderly evacuations which we've seen reports on on social media and the few injuries and the fact that there are no fatalities, thank god, i mean, they announced that relatively quickly that this show was going to go on, right? >> they did. >> it was almost surprising. >> it was very surprising and, as a matter of fact, when i did the breaking news earlier, i held back a little bit because i wanted to make sure that we had several sources saying that the festivities would go on as planned. i think if, god forbid, the fatality -- a fatality occurred or the injury toll was higher, that may have changed the situation, but that was not the case. in looking at the evacuation, it did look extremely orderly and the medic that is quoted on reuters as saying it's mostly smoke inhalation and some injuries from the evacuation. so it was done in a very quick and orderly manner and i think that's probably why they felt confident that they could go on with this particular show. it also might have been to reassure the public that it was not a bigger incident. keep in mind back in february they had another skyscraper fire and it had very -- it had no injuries whatsoever and no fatalities. so -- which we found amazing at the time when we covered that story back in february. so this is the second time they have had a high-rise hotel catch fire and had very few injuries. >> there were to be three different fireworks displays, by my count this is number two. >> it's hard to keep track. we're looking at these beautiful shots of the fireworks, but just to be clear, sue, it must be an amazing sight on the ground to watch this massive firework display at the same time where a nearby skyscraper continues to burn. >> yes, it is. it's kind of surreal, isn't it? we were all -- we were all wondering whether or not when this whole incident began whether or not there had been a fire -- you know, a fireworks incident that sparked the fire in the skyscraper, in the hotel, at the address hotel, that was not the case, it was something internal in the hotel that caught fire and spread very, very quickly. we should note that they have blocked off the streets around the hotel, understandably, of course, with the debris problems that they have having, so that particular part of the street is closed and that has resulted in kind of crowding the people who are allowed to be in that area a little bit, but they still are letting -- according to social media -- some people with passes in to watch this fireworks display. >> helema, as we celebrate the new year so many are on high alert for these new year's celebrations of terrorism, authorities, increased presence across the united states, in new york city which we are going to talk about in a little bit, but just your estimation of the terrorism threat in 2016, more and more wall street strategists and not just energy strategists, are writing about it as a major risk for this market. >> i mean, i look at what happened in ramadi, so we had good news over the holiday weeks about isis being uprooted in ramadi, but my concern is the more success that, you know, they may have in uprooting isis in iraq and syria is it potentially raises the inspector of attacks in saudi arabia or europe or potentially the u.s. >> we're going to go at this point as the fireworks display, the celebration at new year's in dubai continue. it was planned to be a long show and they are going forward with that. sue, thank you, we will be checking back with you. helema, thanks for stepping in with your insights on that and we will continue to follow this story as it develops there in due pie. we welcome you to "closing bell" officially now for this new year's each. i'm bill griffeth, saraizingen if nor kelly evans today. >> let's get to our full team coverage of the markets on this new year's eve. >> we've got courtney reagan at the nasdaq, bob pisani here at the new york stock exchange and jackie deangelis over at the nymex. let's start with courtney because the nasdaq has been the outperformer this year. >> that's exactly right. if there is a prize or a trophy for the most bullish index this year i guess the nasdaq gets to to take it home today. for the year the nasdaq composite will be gaining about 7%, really not too shabby, especially compared to the performance that we've seen from the other big indices. if we drill down even further and look at some of the biggest gainers, we talk about them all the time, but it's worth visiting on this new year's eve. in the nasdaq 100, netflix has gained 139%, this is this year, followed by amazon up 122%, activision, blizzard, up 96%. if you look at the etfs which is a way to help us track in many ways subsectors of the market, the top six performing etfs are either tech or biotech etfs. so the first trust dow jones internet index fund up 23% for the year, the spider s&p biotech up 14%, really nice gains for that group. if we look at the final session for today, it does look like we will post a negative session right now, the nasdaq composite trading down about .8 of a percent. some chip stocks lagging when it comes to sky works, texas instruments, apple also losing some ground today, there is of course a lawsuit that has been filed alleging that the ios 9 operating system software significantly slows down the iphone 4 s. activision blizzard even though it is a top performer for the year is a laggard today. if you look at some of the winners on this final trading session of 2015 it's a lot of the media names, there is a report in the daily mail that states that liberty's chairman john malone may very much be interested again in reigniting possible friendly merger talks with vodafone. >> thank you, courtney. let's go to bob pisani on the floor at the new york stock exchange. bob, last year the s&p 500 ended the year at 2058.90. the question is whether we will close above that number today, increasingly it does not appear so. >> take a look at the s&p here. we got over it earlier in the day as oil rallied, it moved up towards $38 then we had faded late in the day as oil has come off of its highs here. one tradition that's happening is buy the losers on the year, that's happening a little today, so the energy names, so many of these energy names we put up every day like devin and range resources they are modestly on the upside today, another one buy the losers is industrials. we talked about how weak the railroads can be like kansas and csx and required, united rentals, other ones like that generally had a little energy today, they are fading a little knit middle of the day. courtney mentioned some of the tech names, activision one of the great deals, up 90%, google, microsoft up 20%, you can see they're selling them a little bit although the selling and buying pressure is not particularly heavy. for the major markets this year this was a year nothing worked. everybody believed that the u.s. was the best market to invest in on december 31st, 2014. germany would be slow or weaker growth. china would have decelerating growth. the only thing everybody had a consensus was on japan might do better. other than that nothing has particularly worked. here is the only good news, santa claus rally still intact despite the declines today, the last five days of the year so far we are up about 0.5%, remember the santa claus rally extends into the first two days of 2016, normally good for a 1.4% gain. at least we're still directionally right on the santa claus rally. back to you. >> and, sara thanks you for that report as well. we will see you later, bob. >> clearly the market that has been calling the shots in 2015 is oil. jackie deangelis rocking a new doo at the my next today talking about what has been a down year but up day today. >> right. it was a 1% pop that we saw in crude oil today, we closed over $37, which is a key technical level even though it wasn't a huge move in terms of the volatility and swings we have been seeing, brent crude gained more. of course, the iran headlines offering support, and just being positive going into a three-day weekend. it has been a tough year for crude oil, down 30% this year. that has been a difficult pill for a lot of energy companies certainly and the stock market to swallow. some of the things that we need to consider as we go into 2016, this volatility is going to continue, at least in the short term. you can expect these swings until something changes. on the supply side we're looking at what's happening in the middle east, will the saudis do something, about opec do something, will production drop here in the united states. the demand side kind of quiet right now. also the fed, how will it act and impact the dollar. will we test those 2015 lows. intraday this year we went down to 33.98 that was the intraday low and some traders think we will get there again. lower for longer, definitely going to last as well. we should brace ourselves. but remember most of the street didn't think we would get this low, now the street is on the bandwagon we are going to go lower. some people are saying it's possible we have this wrong this time and could rebound from here. a lot of factors would contribute to that and conditions would of to change for that to materially happen as well. happy new year. >> happy new year to you, too. jackie deangelis at the nymex. doing us in our "closing bell" exchange we have cnbc contributor heather hughes from sun america checking in from d.c. >> happy new year. >> happy new year. steven sarge guilfoyle from deep value is with us at post 9 and rick santelli. i'm going to start with you because we got the final tally in on the bond market. this year in 2015 we saw a flattening of the yield curve, the two-year note up 38 basis points for the year, we've got a chart to reflect this, the ten-year was up 8 basis points for the year, the 30-year bond up 27 basis points for the year. what a year it's been for the bond market and what are you expecting next year? >> well, i will tell you what, especially when you look at fives and tens which were up about the same, pretty close to 10 basis points, what that tells me is that some people will -- or investors will look at the long end and say it's because there is no inflation, i look at it, we've talked about it before, if you want inflation you have to find growth in productivity, i don't think we're going to find it in 2016. i think the same dynamics could be in place with regard to the curve, i think the short end is going to pay attention to the fed, the fed is going to go, debatable how many times but i would at least twice and the long end is probably not going to do a whole lot. now, the risk is that something happens in europe because of course i think that's helping to keep a ceiling on u.s. rates. the other side of the mountain we experience what happened when their rates plummeted, we somewhat plummeted along with them. i don't think there's going to be any surprise growth stories, you heard bob pisani, i think all the areas of the globe that look iffy this year are going to look iffy next year. the one thing we walk away with is that the u.s. is normalizing. i think that's actually terrific news and i fully suspect that the markets will get used to it and it will be more enlightening to be able to carry the water without the support and the training wheels of the fed and i think the u.s. economy will continue to outperform the globe, but i also don't see any gdp improvement for all of 2016. i think pretty much we're going to be looking at another 2.25 to 2.5% gdp year. >> on the record rick santelli with the predictions next year. it's not just the last trading day of the year, it's the last trading day of the month of december. energy companies down 11% in the month, european stocks had a rough month, in fact, their worst decline for december since 2002. >> what happened to the santa claus rally? >> u.s. stocks down 1%. this is a traditionally very strong month. does that fore shadow something ominous next year or just cap what was a rough year? >> to tagalong on rick's prediction for 2016 i think we will see low interest rates and low inflation, global slow down that may continue weak growth out of china and in turn of course that's affecting commodity prices as well. but the positive light in all of this is the decoupling of ken tropical bank policy here in the u.s. finally and i think that sheds positive light that we are at full employment going forward that may help put some pressure to raise some of those wages for the consumer. >> and, sarge, for traders like yourself trying to make a buck on the floor here, you know, it turns out in the aggregate to be a down year for the major averages for the most part except the nasdaq going into the new year where do you see opportunities here? >> you know, it's been a good year for consumer discretionaries and i think it may still be a good year for consumer stocks but you may want to switch over to the staples, the staples is where i see some opportunity, i think people will be a little stretched this year, it's not going to be a good year for the economy, i'm sure you've noticed the clapgs in manufacturing and energy. there is inflation in areas where the middle class gets hurt, they will be spending more on food, the things they need to run their households and the staples are where you will have a shot. >> you will be more defensive. >> i am going to be more defensive. >> i like the consumer staple idea and of course if you believe in a slow down in the global economy, a continuation of that, you also look at the consumer staples that yield dividends. some of those that may be shielded during fourth quarter earnings results in january by the strong dollar impact on the international markets, we know that's going to be a big head wind and excuse for not needing the earnings, that strong dollar and lower oil prices as well. >> indeed. all right, folks, thank you all for your patience in waiting while we watched dubai. >> happy new year. >> happy new year. >> there is a lot of confetti in chicago. >> it looks like a mess to clean up. that is a gloomy crew, i have to say. less than 40 minutes to go before the last closing bell of 2015 and stocks actually declines are accelerating here with the dow jones industrial average down more than 126 points, the s&p 500 back in the red for the year with a decline now of soint 6 of a percent and the nasdaq going out with what looks to be the biggest decline. >> despite that apple is on track for its first negative year since 2008. we will talk to two retail invest, these are average investors like yourself about whether they're falling out of love with everybody's favorite stock, apple. happy new year out of dubai. we are back with more on "closing bell" after this. you're late for work. you grab your 10-gallon jug of coffee, and back out of the garage. right into your wife's car. with your wife watching. she forgives you... eventually. your 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i'm late for an important function. compare.com. saving humanity from high insurance rates. at the en of each month we like to check in with individual investors like yourself, we call them retail investors to get their view of the market and over time we have found apple is usually a fan favorite among most investors. >> but this year the tech giant is on track to close down for the first time since 2008 so we want to find out is apple still a favorite. let's ask our retail investor panel. wayne smalls is an engineer in washington, d.c. and kay lee burlg game is a student at virginia tech who helps manage the school's endowment funds. kay lee, do you still have conviction in the apple investment? >> so apple is a stock that we have held in our portfolio for two months now. we like them because they fit our investment thesis in the sense that they have a lot of cash, they're large cap and they yield dividends. moving into 2016 we are looking at stocks that will pay us to own them in the sense that they do yield a dividend, apple has talked about increasing their dividend yield as well as increasing their share buy back program. we will continue holding them moving into 2016. >> wayne, what do you think? i mean, is it time to look elsewhere away from the fabled company that is apple or is it time to get in because it has had a down year? >> i think it's a great time to get in. last year was a flat year and i think that anyone who was thinking about exiting has probably done so. personally i am going to probably trade it strategically in 2016 and around just as we run up to the next release of the iphone 7 i will go much more heavily on apple because it's a very popular time to get in line and buy that. it worked successfully for me last year and currently i'm up 20% on a pay like that. >> in the interest of time tell us how you did this year and how you're feeling about next year, what sort of moves you're looking to make. >> sure. so this year we underperformed the s&p 500 just slightly, but we also didn't own amazon and if you look at it, if you had owned amazon you would have outperformed, you would have performed 2% better than we did which would have put us relatively flat, but moving into 2016 we're expecting the market to be relatively just as volatile as it was in 2015, largely driven off the fluctuation in prices of commodity, namely oil of course. so we're looking at large cap stocks that yield a pretty high dividend. one of the ones we really like right now is johnson and johnson, they've increased their dividend for 53 years consecutively and have a credit rating of aaa, which is higher than that of the federal government. of course, past performance, current statistics will only get you so far, but moving forward they have ten pharmaceutical products that are currently going through the approval process, each with a potential to yield about $1 billion each. so all in this pharmaceutical giant is a real staple for dividend seekers like us. >> we will be candid, it's hard for us to hear anybody down here right now and they're getting ready for the final whoop, whoop, whoop of the year to celebrate the coming three-day weekend. wayne, quickly, i see you're buying the overall market, you like the s&p, you like the qqq, you think next year will be an up year? >> yes, it will be a modest up year. i think the first six months will be a challenging period with oil and china and the fed in play, but long-term upside for etfs or qqq or, you know, the spy. >> very good. folks, we appreciate always hearing from main street, if you will, on what they're doing. thanks for joining us and happy new year. >> happy new year. >> the celebration is starting a little early. >> they're wheeling out champagne, too. >> i think half the egg nothing bowl is empty right now by this time of day. the dow is moving lower, down 133 points with 30 minutes left in the 2015 trading year. >> "star wars," "the force awakens" is cleaning up at the box office for disney, but "star wars" creator george lucas is blasting the studio with charp language. we will talk about whether this could be an impact on the box office and franchise, that's coming up on "closing bell." >> whoop. whoop. a selloff it looks like to close out the final hour of the final trading day of 2015. the final day of the month for december as well which was a down month, the dow jones industrial average is down 132 points, the s&p 500 down .66% putting it firmly in negative territory for the year. and the nasdaq still up for the year, it's downen .8 of a percent right now, the best performer, nike, up more than 30%, mcdonald's number two, home depot number three, interestingly all consumer stocks, bill. the biggest losers contain some consumer stocks, walmart and american express. >> all right. we might as well wait 15 seconds here because in just that amount of time we will hear the final whoop, whoop, whoop. let's let them get it out of their system here. a tradition before a three-day holiday. when it hits 33333 it's going to get mighty loud for just a second here. >> there you are. we are tradition bound at the new york stock exchange. time for a cnbc stock exchange. >> i've never followed a whoop, whoop, whoop. thank you. as we've been reporting to you a massive fire at a downtown dubai hotel is now under control. local officials say 14 suffered minor injuries as they were being evacuated, the fire reportedly began on the hotel's 20th floor, no word on the cause. two top aids to ben carson have quit, the resignations of carson's campaign manager and communications director are effective immediately. the former surge was on the -- the former gentleman was once a top gop contender, he has recently dropped in the polls. a record flooding along the mississippi river prompting the shut down of an oil pipeline which runs along the river bottom. meanwhile, evacuations are continuing in missouri with floodwaters expected to crest sometime in afternoon. and netflix is once again helping parents get their kids to bet early tonight so they can have some fun. the streaming service has six con demand count downs that you can watch anytime and it features some of your kids' favorite characters. that's the news update this hour. guys, you started at 8:00 p.m., then it's over, the kids go to bed and you guys can party. >> that's a great idea, although kids love watching the ball drop, don't they? >> you can dvr that. >> they can watch it at 9:00. >> exactly. >> you will find out some day. >> she will find out some day, remember this. >> yes, she will. thanks, sue. >> see you in an hour. >> you have so much to learn. >> less than a half hour to go before the closing bell and we are looking at a triple digit decline on the dow into the last half hour of trading of 2015. dow jones industrial average also low, down 113 points, s&p 500 picking up steel here down .7 of a percent. >> a leading trader will tell us what he's watching as we head to the close this final session of the year. >> 2015 will go down in the books as who will body's best year at the box office. you're late for work. you grab your 10-gallon jug of coffee, and back out of the garage. right into your wife's car. with your wife watching. she forgives you... eventually. your insurance company, not so much. they say you only have their basic policy. don't basic policies cover basic accidents? of course, they say... as long as you pay extra for it. with a liberty mutual base policy, new car replacement comes standard. and for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. learn more by calling at liberty mutual, every policy is personal, with coverage and deductibles, customized just for you. which is why we don't offer any off-the-shelf policies. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. cto everything from surfers welcomingto seals.ul home attracting visitors from around the world, around the year. along the coast, protected areas are set aside to preserve a fragile community of animals and plants. to protect these natural wonders, here's what to know before you go. stay at least 300 feet away from seals. this is their home. don't touch marine life in tide pools. take away your trash and your happy memories. always enjoy and protect our marine habitats. all right. 22 minutes left in the trading session here with the dow down 110 points, despite the fact it looks like we will have a down year for 2015 for the major averages, these are some of the outperformers, these are the three best performers in the s&p 500 this year, led higher by netflix up 135% and counting, amazon with a gain of 118% for the year and activision blizzard as sara plays all those games up 92% in 2015, sara. >> yes, you know me so well, bill. here we are on the floor and here we go. 20 minutes to go, final session of 2015. sharp declines here in the final few minutes of trade. what are you going to be watching into the close? >> the one thing you'd like to see is a little bit of a rally. we have 18 points or 15 points on the s&p if we could finish up for the year, i don't think that's going to happen. we've been watching a lot of small things, but, you know, it's been a wash of a year. basically -- >> it really is after twists and turns and a correction we are right back where we started for the s&p 500. >> which is exactly where i left off. you know, it's -- you know, at the end of the year, nobody is really wanting to do anything, you look at the volumes, i have been down here 35 years i don't remember ever seeing such a lack lusting trading session as the last trading session of the year. >> does it say anything about the conviction for stocks going into the new year? >> i'm going to have to say no. i think that this is just basically there are a lot of people had just -- they have gotten in or out of their positions last auto week or the week before and they will wait until the new year. i don't see anybody making any major moves. it would be ridiculous to even try to do anything towards the close. unfortunately for this segment and for the rest of the day i don't see a whole lot happening. i'd love to see a rally but i just -- >> we also had a fed hike earlier in the month. thank you, peter costa. happy new year. >> happy new year to you. bill, back to you. >> and to you here. i thought i would remind peter we both started over 30 years ago, the average daily volume was 30 million shares, today we are only doing a half a billion. that's a lot of an increase there. all right. so movies now. avengers, jurass"jurassic worl, "american sniper," star worse just a few titles that helped to boost the north american box office to $11 billion plus this year for the first time in history, it was a record year for hollywood, paul from rent track joins us now. what a year this has been. there were some spectacular flame outs, but these block busters carried the day for hollywood. >> they did, bill. this was an incredible year at the box office. we precisely measure movies and tv everywhere and on tuesday we broke the news that we hit $11 billion for the first time in north america and "star wars" certainly was a big part of that. "star wars" was like the kicker at the end of the game scoring that game winning goal, but it was a combination of films and a lot of those that you mentioned at the top here that contributed to this incredible box office year. also our rent track analytics show that the international marketplace has been huge this year and look at "star wars," it's already at $1.3 billion worldwide, it's been out for two weeks worldwide and it's on this record pace and it hasn't even opened in china yet. china is the second biggest movie market in the world. >> right. >> and we have yet to open "star wars" in that marketplace. so this was a tremendous year. >> as you guys are alluding to we've sort of been making this point that while it was a record year, paul, it was built on the back of success of just a few, just a handful of biggies, "jurassic world," "star wars," "furious 7" much like the stock market and these big cap tech stocks drove the overall market. what does that say about next year? >> well, you know, it was a very top-heavy year, you're absolutely right, but then there were films that came out of nowhere that were unexpected that were not franchise films like "the martian," that was a film that nobody saw coming and did so well in october, and then most recently we have had a bunch of movies like the big short and spotlight and other indy films that have done well. but going into 2016 i would say that 2015 is not the one hit wonder of box office years. we've got big movies next year, a lot of franchise films, obviously you have captain america, civil war, you've got finding dori the new pixar movies, a lot of films like suicide squad and batman versus superman, "ghostbusters," neighbors 2. a lot of big movies in the pipeline for 2016, but, yes, this was a top-heavy year. there were a lot of films a little bit lower down on the list that all contributed and built in foundation of a record breaking year. >> let's face it, this will be the year for "star wars" if this juggernaut continues, but not everybody is thrilled about that. how about that recent interview with charlie rose where "star wars" creator george lucas himself voiced his true feelings about selling the lucas film franchise to disney. >> i love them, i created them, i'm very int fatly moved in them and obviously -- >> and you sold them. >> i sold them to the white slave rs that take these things. >> do you think there is some sellers remorse on george's part? i mean, his review of the film was less than glowing as well, he thought it was too retro. >> i actually -- you know, george lucas clearly is a cinematic visionary and who am i to question him, but i think the decision by disney to acquire lucas films for a very huge amount of money, $4 billion, was a very salient investment. >> i don't know what this is about, but we have some breaking news on george lucas. >> no problem. >> julia boorstin, what's the story? >> george lucas issuing a statement moments ago to clarify his interview on the charlie rose show, saying, quote, it was for the kennedy center honors and conducted prior to the premiere of the film. i misspoke and used an inappropriate analogy and for that i apologize. he goes on to say i've been working with disney for 40 years and took them as custodian of "star wars" because of migrate respect for the company. he says disney is doing an incredible job of taking care of and expanding my franchise. he says it's unusual for him to issue statements of any kind, but this was an unusual situation. back over to you. >> the wording could have been better, that's for sure. i mean, i'm not going to go there, but, paul, clearly he regrets what he -- >> he's walking it back. >> he regrets how he said it but his feelings probably are the same about the movie and selling the company. >> right. well, i mean, i think that this latest installment the audience has spoken and they love the movie. the critics love it. and j.j. abrams and his team did a perfect job. i think the retro part of it is really cool. you feel like you're transported back to 1977 when you see "the force awakens" and that's awesome. as a movie goer that's what you want and j.j. stayed true to that vision, combining the old cast with the new, the crawl at the beginning still there, the john williams score is there. it's just a great movie. i absolutely loved it. and disney did a perfect job of shepherding this movie from its initial announcement all the way through to this -- you know, it had the biggest opening weekend of all time worldwide, it had the biggest opening weekend of all time in north america and as we've been tracking this at rent track we have been amazed at how well this film is doing and whab it gets into the $2 billion club down the line worldwide. >> i think that's a pretty safe bet. that's for sure. paul, always good to see you. thank you, happy new year. >> thank you. happy new year to you. look at the baby he burst, of course, he is going to be complicated feelings about selling it. >> i understand. i understand. 14 minutes left in the trading session here, the dow down 127 points as it looks like the dow and the s&p will go down -- will be negative for 2015. nasdaq hanging in there, though. >> yeah. and doing the best of the bunch in the year. coming up, the transports on track for their worst year since 2008. we will look at what's behind that move after this quick break on "closing bell." we have a market flash now on the transportation stocks. let's send it to seema mody for that. >> the last trading hour of the year and dow transports outperforming both the s&p 500 and dow industrials today, but for the year transports down 17%, tracking for their worst year since 2008 when transports lost over 22%. now, weighing on the index the most this year are names like avis budget, kansas city southern, rider systems and kirby all down between 20 and 30% this year. we will see if 2016 brings some of those names higher. back to you. >> it has been a rough go 2015 for the transports. seema, thank you very much. ten minutes to go before the final closing bell of 2015. one dow stock is higher right now, that would be ge and the only s&p sector that's higher in energy. up next the last trading day of the year and thankfully we have david darst with his predictions plus oliver porsche explains why he likes apple. and monday you can get up bright and early on the brand new worldwide exchange live from cnbc headquarters starts 5:00 a.m. to 6:00 a.m. eastern. set your alarm. >> i will be watching. you bet i will. >> we will be right back on "closing bell." with oliver for shay and david darst. oliver, you caught our attention, we've been focusing on the down year apple has had. you like apple, though? >> yeah, i like apple, i think it's a well-run company. it's a story between a trade and investment. if you are an investor and looking at the long-term it's the undervalued company with a tremendous amount of cash, they've got great r and d and product development. i know there have been analysts on the program here at cnbc throughout the day, they're talking about some of the things that are coming out in 2016 so it could be a big year. this is the first down year for apple since 2008. as an investor you have to be pleased if you own the stock. >> you have several themes, if you could narrow it down to the top three that you think will be most important for the markets and global economy this year. >> china is right at the top of the list. corporate profits would be number two. in three weeks we will get the first -- the first outlook for the fourth quarter. we want to see those qfos and ceos giving a nice conversation about the outlook. the third one is commodities and currency. the dollar, if the dollar is too strong, so to me if i were whispering in the year of xi jinping i would say you should tell the world that china is going to do what it did after the asian debt crisis and not let it dee pleesh year at the box office. that will calm everybody about a type of environment in currency competitive depreciation. >> we saw what that did this summer. >> i just want to say one thing from ben franklin, 1706 to 1790, be at war with your vices, be at peace with your friends and may every near year find you a better person. >> words that we will close out 2015 with. thank you both. happy new year. >> happy new year. >> see you in the new year. we're coming back with the closing countdown for this new year's. >> after the bell the two socks that have been the secret sauce for etf investors this year. ade ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. they're getting ready for the big celebration once the bell rings at the close, bob pisani, we have 45 -- we have a minute and a half left here. the dow will go out minus for the year now with this selloff, we are near the lows of the day, down 157 points, for the year the dow will be down about 2%. wti, though, the bigger story, i think. >> well, that's why the dow underperformed. exxon and chevron weighed on the dow. >> energy is only 11% of the s&p 500 now. at one point it was 18%. >> right. >> fourth or fifth now on the line. it's been -- this was the year -- we will talk about this on the other side. nothing worked. the consensus for almost everything at the start of 2015 was completely wrong throughout the year and i think it gave a lot of people a lot of pause and shocked a lot of people. it was difficult to get anything right this year. >> let's talk about that. what an interesting year we're closing out for 2015. the dow down 170 points on the close, inner brand is ringing the closing bell at the new york stock exchange. we will look ahead to 2016 on the second hour of the "closing bell." stay tuned. and there it is, popping champagne on the floor. the final closing bell of 2015: i'm sara eisen, bill griffeth rejoining us in a moment. let's take a look at how we are finishing this final trading day of the year, going out with a decline, dow closing near the lows of the session, down more than 1%, some selling into the close, s&p 500 also losing a full percent, the nasdaq the only one of the three to finish positive for the year. down 1.15%, the russell 2,000 index of small caps first annual decline in four years. this is the worst year for stocks on the s&p and dow since back in 2008. and look at one of the big reasons why, oil has got to be one of the charts of the year. wti oil that trades in this country down more than 30% in just one year. it's actually trading higher right now by a percent. we will talk about what next year has in store. speaking of the new year, happy new year russia, we have a live shot at this hour, midnight in russia, this is red square in moscow. >> they've been waiting for us, i guess, to do their celebration. last hour the big story was due buy, the fire at the huge hotel there in downtown dubai, but that turned out to be really -- it wasn't as bad as it could have been, but they went off with their fireworks display and i guess red square is waiting a few minutes here before they get to the fireworks display. >> one of the currency moves of the year we should note the russian ruble losing more than 20% of its hour against the dollar. >> always comes back to the currencies. >> it has been a huge story and it is closely tied to that decline in the price of oil. >> that's why we will all be watching worldwide exchange some monday morning. >> i love you, bill. we've got mike santoli, with us for more on the year that was, we have "fast money" trading tim seymour, david nelson is here and john killdid you have from again capital. let's give the first word to you, mike santoli. sort of a disappointing way to end out the year for the bulls, a frustrating year. >> disappointing for sure but develop that the s&p 500 fell short of break even for the year because honestly if it was up it would have misrepresented how this year was overall. the russell 2000 small cap down 5% to on the year. the s&p down 3.5 or so percent so this was a year of digestion of down side bias within a range. that 2040 level on the s&p was the lower end of the range where we sat for about six months of the year. so it kind of represents how this year was. >> tim seymour, volatility came back this year, you traders love that, did it present more opportunities? everybody is expecting volatility to continue to grow into 2016, too, right? >> i think that's for sure. i mean, i think we were coming into 2015 and everybody said the fed was going to be in play. they were in play but obviously it took all year to get them to start to move. i think as we get to 2016 the fed will inject more volatility, i think the fact that we are undeniably somewhere near the end of a growth cycle doesn't mean we have to go into a hard recession but if you look at where we are in this market i think there's a lot of people that say i'm looking at earnings revisions which continue to go down, looking at the economic data, next week is going to be a huge week. there is a lot to digest. to say volt tilt has seen its lows of the last two or three months i'd say no way. that's part of what i expect in 2016. >> before we continue our look back, let's get a quick round up, our reporters are in place now to give us that review of the year, courtney reagan at the nasdaq, bob pisani standing amidst all the champagne on the floor of the new york stock exchange. >> courtney, since the nasdaq was the only winner of the major averages. >> that's right, technology, biotech leading the way higher for the year, the nasdaq composite will end 2015 with a gain of about 7%. this is actually the fourth consecutive positive year for the index in the sixth year that we've seen gains out of the last seven. we know there are winners and there are losers. in both of them we have a decent mix of subsectors. let's start with the winners because i'm feeling pretty positive on this new year's eve. next flicks logging remarkable gains for the year, up 134%, amazon gaining more than 118%, activision blizzard up 92% and invidia 65% higher for the year. we can't all be winners, let's check out some of the losers. micron down 59%, this is a name that we've talked about a lot over the course of this year and years past. western digital down 45%, viacom also down 45%, but we've got a retailer in there, too, bed batting and beyond shedding more than a third of its value in 2015. another name we talk about all the time and i think it bears looking at over the course of the year is apple. for 2015 shares of apple did close down more than 4.5%. a lot of things are happening with this company of course we talk about it a lot and we should continue to keep it in focus because of the major impact that it has not just on indices but of course as we know in different folks' portfolios, retirement accounts and everything of the like. so that going forward we can see what will happen in 2016 after closing down 4.5%. but for the final trading session of 2015 the nasdaq did shed more than a percent here today, among the biggest losers were some chip stocks. we saw some weakness, sky works, texas instruments, apple also shedding more today. there is a lawsuit that's been filed that has to do with the operating system for the 4 s phone and how it causes slow downs potentially, those are the allegations. there were winners, too, namely the media stocks. there were a report out in the daily mail suggesting it's possible liberty might be interested in a friendly merger with vodifone. we are seeing many of those names trade higher. happy new year to you both. i think i'm coming back later in the show but that's the year ending for the nasdaq. >> thanks, courtney, very much. >> and, bob pisani, the headline can now be written the dow and the s&p 500 finishing in the red, worst year for stocks since 2008. wrap it up for us. >> this was the year nothing worked and if you doubt me just take a look at the major global averages and what happened here. so the consensus at the beginning of 2015, the u.s. was the best place to invest in the world, this is where the growth was. what happened? we're flat on the year. france and germany all those other places slow growth economy, not clear the stimulus would work. what happened? frank up 8.5, germany up 9.5. china, growth decelerating in china, not a good place to invest, it was a roller coaster high, but the shanghai up 9.4%, japan, i will give you a comment on that later here. another consensus that was a big blunder was oil. this was the biggest blunder of the year. remember, this time last year the consensus was oil had gone from 100 to $50, they were predicting 60 or $70 oil in the second half of the year. didn't happen. not only that we moved to the lows for the year, this was the biggest consensus blunder all year. earnings would pick up in the second half of the year, it didn't happen. not only did earnings not pick up in material names and energy names, but they dropped in big global industrial names as the global economy didn't pick up. we have four straight quarters of earnings decline, i call that an earnings recession. did anything work at all? the only bet that kind of worked that was the son census bet was jap japan. most traders felt the stimulus program would help the stock market, japan was up over 7% on the year, it's a pretty mediocre year when 7% you consider that a big victory. u.s. still the best place to invest in the world, that's where the growth is, europe still stuck in slow growth and china it's still decelerating. wait a minute. wasn't that the consensus, guys, that we had for 2015? i think it was. i think we should be a little suspicious of con censuses from now on. happy new year. >> wait until next year. yes, the fireworks finally getting on track, that's in moscow over red square and despite the woes of energy and the currency there, the celebration goes on. >> this is a country that is in recession, it's the tenth largest economy in the world, it's been struggling under the weight of low oil prices which is about 50% of the revenues for russia, energy, that is, it's also been struggling with sanctions from the west and it's been an emerging market. so many emerging markets endured so much pain. the only performer that was worse than russia in terms of major currencies, do you know? brazil. down 30%. the brazilian rayal. but a celebration for the new year. >> i'm assuming they bought those fireworks from somebody else they cost a lot more this year than last year. >> absolutely. david nelson, you're here with us, we can talk global. these commodity countries anywhere that produced commodities around the world got slammed and, therefore, emerging markets ended down about 17%. does that change next year? >> i think they have another head wind because if the dollar keeps going up a lot of these emerging market countries have dollar denominated debt and that's going to hit them hard. oil was the key risk coming into this year, it's also the key risk going into next year because, yeah, the consumer benefited at the pump, that was great, we got more dollars in our wallet to spend money, but the dark side of that, bill, and dark side of that is the fact that, you know, 16% of the junk bond market is, in fact, low quality energy companies and now we're seeing the debt of some of these large concerns like a chesapeake, 25 cents on the dollar. i kind of found it interesting that brian moin a hand, ceo of bank america one of his biggest concerns is that they're starting to monitor the credit profiles of the consumer loans and the zip codes of the energy complex around the united states. so those are the headwinds going into next year. >> wells fargo has an oil portfolio that is putting people on alert about as well that they're concerned about. john, we've already established that yours has the market of the year. what are your expectations after such a huge decline again for 2015? what about 2016? >> unfortunately, bill, to the extent you think it's a bad thing for the economy it's more of the same. the saudis are just on a path of destruction here looking to take everybody down, the junk bond market impact that was just referenced is going to hit everybody square in the head here. i think probably come midyear i think we will plum new lows and this is going to end badly and going to get ugly before we can turn this thing around. i'm not sure -- i'm with bob pisani that the consensus used to be the second half the next year these oil prices turn up and they may well, but they may be turning up from $15 or $20 a barrel. >> at the same time, john, americans save more than $115 billion this year, $550 her driver. we saw the lowest gas prices in years since the financial crisis and that hasn't been the help that so many economists thought it would. >> i know. and i think it's so much debatable on that fact, sara, is because, you know, some of the recent numbers i have been seeing is that some 70% of the money being saved is now being spent. a lot of the money seems to have gone to bigger ticket items, consumer durables, the auto industry is having a terrific year. maybe it hasn't gone to the chili's of the world and the restaurants, but i know hollywood has had a good year, i think folks are getting out there and i think it has bullied consumer confidence for sure. i think we would be in a much deeper soup in terms of the economy if we had $3.50 or $4 a gallon gasoline for sure. >> tim, when will you know it's time to buy energy or the energy stocks assuming you are not buying already right now. >> i think it's important to obviously look at the balance sheets of the companies that you are looking at, someone like oxy dental trades at 17% debt to market cap and there's companies in the e & p space in the u.s. that are close to bankruptcy. i think you can buy very good companies and good balance sheets right now. john has been doing this a long time i would ultimately defer to him. my view is that we've already started to see some of the signals that you need, some of that he is are the bankruptcies. i might argue today iran is a capitulation moment in terms of what's going on in terms of do you believe that iran and the u.s. will come to this deal? the irany supply is why people thought things were going over the edge. maybe this is one of those catalysts you need. i don't think you have to be a hero in this environment. same thing with emerging markets. there are places you can buy dollar exporters who produce in the local currencies doing very well, even places like russia and brazil. i think you have to be careful about who you are buying at a time like this. you don't have to do anything. >> if you look at the biggest losers this year in the s&p 500 they are all energy names, chesapeake, console, southwestern, freeport, mcin a ran. what other damage is in store in terms of job cuts, the economy, home prices, supply cuts, cost cuts? >> i'm most interested and focused on the industrial type names that got taken down along with the pure energy names. to me the industrial economy it's all about global growth going from an assumption that it's negative on a manufacturing basis to something slightly positive. i'm going to go out there and say i don't think the story of the full year 2016 is going to be about oil. i really don't. i don't think that these story lines really play out over that long a period of time. we thought it was going to be all about china a while back, 2011, we thought it was going to be all about europe debt forever. i think we get delinked at some point. i don't know if that means if we go a month without a low in crude oil that does it. >> you've got the fed lal reserve with its first rate hikes, we will get fed speak over the weekend from the american economic association, stanley fisher speaking sunday, jobs report next week, earnings in a few weeks, david nelson, by the way, next year is a presidential election year as well. >> i think it's different this time when you start talking about the federal reserve, this is going to be the first time at least in my life sometime as a financial analyst where the federal reserve will be raising interest rates in kind of a pretty sloppy environment for the economy and we certainly don't have rampant inflation at this point. i think they're doing it because they have to because they're pushing on a string and they understand that they kept rates too low for too long and that had unintended compromises. unfortunately they are not reinvesting in the economy and they are buying back the stock and not putting it into r&d. you turn into an ibm if you keep that going. >> they wanted everybody to take risks and they did. >> they did. i mean, honestly i definitely agree with that and i think the market is going to have trouble if it has the perception that the fed is on its own crock and going to be hiking on a schedule because it needs to. >> every meeting or whatever. >> i think anytime we get into one of those phases where it feels like that it's going to be like september in the market. i think january of last year is when we started to hear this word, do you know what, the fed wants to go this year. it's going to happen this year, it's going to be june, it's going to be september. if you start to get that word getting out there that they want to be at 1% by the end of the year we might have some friction but i think the domestic economy is better than -- >> some things are working and unfortunately we are crowded into those same four or five names. >> and the u.s. economy is not the s&p 500 profit pool. those are two different pools. >> i couldn't agree more. everybody should be focused on their individual names and less about the -- >> so that brings up the question of valuations and where we are right now. we were hearing for so much of the year that the s&p valuations are too expensive and it's not justified. now that we've seen somewhat of a pull back have we gotten there? it looks like we are still historically above average. >> we are. i mean, you know, i think bank of america did 127 bucks for the s&p for next year. earnings revisions are going to continue to deteriorate. if you look at the sectors where they have been somewhat insulated, healthcare actually over the last three months has ticked down, so it's been more earnings down grades than upgrades, we are in a place where industrials have been four or five times the down grades to upgrades in materials and, et cetera. i think if you look at the sequential cycle of earnings we are probably a quarter or two away before that can get better, especially for the most downtrodden. it's a challenging environment but i would also tend to err on the side this is where the u.s. economy will continue to be resilient. central bank policy will respond to the dat. >> lows and highs for oil in 2016. i know you hate that. >> i feel like i lived 2015 out on a limb the entire year, i'm used to it. i'm going to say $18 low for wti and i'm going to say a $48 high at some point as well. >> 18, did you say? 1-8? >> people develop some ticks on their eyes when we use that $18. >> i think it's going to have to get that painful for the industry to -- and the global industry i mean to finally respond and that includes saudi arabia, opec and russia. if the market is going to have to bring them to their knees because they are not going down on their knees willingly or video taerl. >> can you imagine what that would do to to the ruble? >> the currency. >> happy new year. >> david nelson, john killduff. tim and the rest of the crew will be coming up on "fast money" at 5:00 p.m. eastern time. the new year's eve edition from the heart of times square. >> many etf winners in 2015 have two stocks to thank for their gains and we will reveal those companies when we come ba. >> later congressman barney frank and larry kudlow will be here to weigh in with their 2016 political predictions and though that could affect the market. plus the latest on the hotel fire in dubai that we have all been watching. we will talk to a reporter live on the ground coming up. you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay 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exchange traded fund this year, up 23%, while i shares north american tech etf is higher by 13%, other winners include the qqq trust, the spider fund and the i shares momentum etf, all of these up more than 9%. what are all these exchange rated funds have in common? online retailer amazon and online streaming player netflix both stocks up triple digits in 2015, amazon shares helped buy stronger growth, specifically in amazon web services, it's cloud business, plus an upbeat holiday shopping season while netflix continues to post better than expected earnings thanks to its original programming and growth in the user base. the question is whether these two high flying tech names will continue to outperform in 2016 and analysts i speak to say it comes down to earnings and also valuation, that will be a big part of the story. sara. >> seema, thank you very much. >> mike, earnings is a new found idea when it comes to amazon, not sure investors can count on that. >> one of the reasons the stock worked so well is the aws business, the cloud business and get it's in consumer discretionary. there is a little bit of a dis aen dent in there to think consumer stocks did well, not because of retailers or people were spending their gasoline dividends, but because you had these big dominant platform companies that were eating the rest of their sectors. >> and amazon would certainly count in that category, courtney reagan. i saw the mccory research for every $100 spent online in the holidays amazon got $51 of that money spent. i mean, they dominated in a big way this year. >> yeah, it's really unbelievable. in that same research note the analysts are saying, look, amazon is going to ultimately be responsible for half of all of the online sales growth that we see for the entire year. we have heard that amazon had a lot of record moves here during the holiday season, but it's not just the holidays, it's all year-round and i think mike santoli was bringing up an excellent point about the cloud services that amazon provides. we always talk about amazon as a retail, but it's also a logistics company. i think that's what so many consumers have come to love about amazon is the fact that you could get your packages so quickly and that the selection is so vast. it doesn't operate as a traditional retailer in many ways, that being said it is certainly pulling away share for many of the products that you could get at various retailers. we know from our cnbc all economics survey that a lot of the amazon users are very coastal, not surprisingly that millennial set is a big fan of the amazon system, particularly the prime. in that same survey 40% of all american shoppers check amazon all or most of the time. 40%. that's an incredible number. >> they are in the zone, that's for sure. then there's netflix which has had to reinvent itself repeatedly and, boy, they hit their stride this year as well. >> especially with international growth. that has been the story. coming into the year they say if they could replicate the same user growth in the u.s. overseas they really do have a few more chapters left in this initial growth story. everyone talked about the original programming, i think it's significant. what i find fascinating about netflix is it's gone away from the idea that netflix is a direct replacement to the cable bundle, paid tv bundle. it's something feel like it's one of many, i have to have it for a couple shows and it's underpriced at $8 a month probably for what you get. therefore, you can have it in addition to other things and that's why it's not a zero sum game. >> as the prices continued to climb the number of buys from analysts on the street has gone down, only 55% of the street says buy because the valuation keeps soaring. >> it's hard to get comfortable with it. >> their average price target 123. that's not far off. >> you project the content costs going out several years and it's hard to get away from that idea that it's not going to be some profit explosion very soon. >> mike. >> courtney, thank you. >> courtney reagan at the nasdaq. california's fair pay act goes into effect tomorrow. we will tell you how this will impact businesses there based in the golden state. plus more on the address hotel in downtown dubai engulfed in flames earlier today. we will bring you the latest details on that fire when we come back on "closing bell." we've got a pair of news alerts on emc and valeant. >> let's start with emc, proving a restructuring plan that includes cutting jobs and a charge of $250 million. it plans to fully complete this restructuring by the end of 2016. we are seeing shares move after hours on this news. bill ackman says it is cutting its stake in valeant pharmaceuticals, the reason, tax purposes. it is reducing its stake from 9.9 to 8.5% in valeant, shares down just about .6% after hours. back over to you. >> tax losses for taxable investors, that's what he says in the filing. >> and there have been losses, significant losses. he is down -- his fund is down 20%. >> he sold high cost basis valeant shares which means he paid more for them. >> another one we've been following that fire' downtown dubai dress hotel in downtown dubai. sue herrera has the latest details. >> the latest we are hearing is that the fire which ungufld this 63-story hotel is now under control. earlier today is in a matter of minutes a massive blaze raced up the side of the address hotel in downtown dubai. billowing smoke can be seen for miles. an eyewitness telling nbc news she heard a loud explosion and that the air smelled like burning plastic. the fern know reportedly began along the outside of the building at the 20th floor but never spread inside. four fire squads responded to help contain that blaze. local officials con if i recall 14 people including one person who suffered a heart attack were hurt. a medics telling reuters at least 60 people suffered minor injuries. the fire was still burning while the city of dubai went on with the show ringing on the new year with huge fireworks displays, three of them as we all saw when we a started "closing bell." back to you. >> they are known for that huge fireworks display there in dubai. sue, thank you. joining us on the phone right now is noah browning, he is the dubai correspondence for reuters. currently on the ground there. noah, thanks for staying late for us tonight. we were highlighting earlier with somebody who has stayed at that hotel, it's very big with westerners. it's hard to underestimate how important that building is as a landmark in dubai, right? >> happy new year. thanks for having me. yes. the address hotel is in the downtown of dubai, it's kind of a cluster of very high-rise buildings, the dubai mall is there, this is kind of one of the most open and fun loving and trendy parts of all of dubai and for a massive inferno to be engulfing a building as prominent as this is a big set back for a place like dubai for whom the annual new year's fireworks show is kind of their spectacle, their moment on the world stage. >> we just showed a map, noah, about the proximity to the world's tallest building, where the fireworks display went off just two hours after that fire. i mean, it is suspicious timing right before new year's eve. are you learning anything about the cause of this fire? >> well, the fire began about two and a half, three hours ago and officials are saying they're looking into the causes. the burj khalifa has been laced up for months in advance of this spectacle with all kinds of fireworks that went on for about, you know, 15 or 20 minutes at midnight despite the big fire nearby. i would imagine that the entire complex around there was probably clustered with a lot of fireworks as well. i mean, there is no indication at this early point that it was in i go other than an accident and dubai remains one of the most secure and efficient places in the middle east. >> but yet you still consider this a pr nightmare for dubai to have this fire happen when it did happen and where it happened? >> reporter: it's a very difficult moment for them. to have the entire world on kind of a slow news day scrutinizing dubai as a safety disaster is kind of the last thing the rulers of this country wanted for the new year's event. they wanted people to be very proud and the fact that they had enough financial resources to put on a gigantic spectacle like this and unfortunately they are going to be getting attention for exactly the opposite. there are a lot of questions about how such a big fire could have engulfed their downtown right when the world was looking. >> noah browning in dubai. thanks for joining us tonight. >> thank you. at 1:30 a.m. local time. today may be the last day of 2015, but we still have 312 days left until the 2016 election. up next how the race for the white house could a spap up in the new year and what impact it could have on your money. >> you calculated that. >> yes, in my head like that. >> she's got an alarm clock on that iphone as well because starting monday she's going to need it. you can wake up bright and early with sara and her new co-anchor, the tall win fred frost. it's the new worldwide exchange team. they will be on the air from 5:00 to 6:00 a.m. eastern time right here on cnbc starting monday. >> multiple alarm clocks will be set. announcer: it's time to make room for the new mattress models! during sleep train's huge year end clearance sale... get beautyrest, posturepedic, even tempur-pedic mattress sets at low clearance prices! save even more on floor samples, demonstrators, and closeout inventory! plus, same-day delivery, set-up and removal of your old set. why wait for the new models? sleep train's year end clearance sale is on now! superior service, best selection, lowest price-- guaranteed! ♪ your ticket to a better night's sleep ♪ let's take a look at how we finished the year. >> a couple of market wonks here. >> we are going to go through all the action for you right now. a down year for the dow and the s&p. worst year for stocks since 2008. the exception to that is the tech heavy nasdaq, the biotech heavy nasdaq finishing the year up almost 6%, that would be a fourth year in a row that it is positive. >> finally finished above 5,000. sectors winners we've established consumer discretionary was the leader to the upside with a gain of 8.4%, followed by healthcare, then technology then the consumer staples which one of our guests thought might be the winner next year as the market becomes more defensive. in the negative territory monk the ten sectors, telecom, then you've got financials, then the industrials, utilities, materials -- >> those are the losers. >> no surprise energy brings up the bottom with that 30% decline in wti this year, energy stocks down 23%. now we narrow it down to individual stocks and we start with the winners. we've already talked about netflix and amazon plus activision blizzard, those were the best p performers in the s&p this year followed by nvidia. >> i will take the losers, energy companies hit hard across the board they were finishing last on the year, chesapeake among them, that was part of the natural gas play as well, console energy, southwestern energy also near the bottom of the list and njoy global. >> i feel up to date with what happened. >> cnbc is breaking out the 2016 playbook. this year with err looking at predictions in the political arena. here is john hartwood. >> a few of us who cover national politics can say we haven't been surprised by the 2015 phase of the 2016 presidential campaign. when socialist senator bernie sanders entered the democratic nomination race who expected him to be leading former secretary of state and first lady hillary clinton in new hampshire by the end of the year. by blustery billionaire donald trump entered the republican race who expected him to be dominating the republican field pretty much everywhere when all the candidates began laying out their plans for spurring economic growth who expected that national security would be the dominant issue on the eve of the iowa caucuses? here are three predictions about 2016. whether she wins or loses in new hampshire, hillary clinton will be the democratic nominee. bernie sanders is going to have a tough time finding places to challenge her beyond new hampshire. donald trump will not be the republican nominee. once we get past the first couple of states and the field concentrates that's when donald trump will be vulnerable. and the american economy, middle class wages, not national security, will be the focus of the 2016 campaign by the time we get to election day. >> of course, guys, that shift to domestic issues has not happened yet and while we've got that last month to go before the iowa caucuses an interesting skichl on the reap side. you have ted cruz who is saying he has learned the lessons of george w. bush's mistakes in iraq, calling for a bombing campaign, but a less forward leaning intervention strategy in iraq and syria. marco rubio, jeb bush and others say, no, we need to assert american leadership. we're going to see how that plays out over the next month. >> i'm going to make a bold prediction for next year that the scaffolding on the capitol comes down soon because we have to get ready for the inauguration of a new president in january of 2017, isn't that right, john? >> i think that is a slam dunk, bill griffeth. >> that's how i roll, john harwood. thank you. >> busy year ahead for you. thanks, john. >> some reaction to john's predictions, let's get some of theirs as well. >> barney frank former representative from massachusetts, larry kudlow a cnbc contributor. larry, on that last point interesting john predicts we will focus back to domestic issues, specifically the economy, it's something you are poke tused on, especially that question of growth and what the candidates promise, something we don't hear enough about on the campaign trail lately. >> you're probably right we don't hear enough about it. growth will be very important. on the other hand, i think the war against isis is going to be major. i think the whole war against islamic terrorism will be major. i am worried -- i mean, i pray to god i'm wrong, but i am very worried there will be additional bombings in europe, in the united states and elsewhere. i think that whole issue is going to heat up. it's not going away. so i don't know which is more important, the economy or the terror bombings. my sense is right now as the polls suggest it's the terror bombings. i think it's going to stay that way. >> barney, clearly it's easy to predict hillary gets the democratic nomination. who do you think she faces in the campaign on the republican side? >> i agree, actually with john harwood on all three points. including that donald trump does not win. look, as a democrat i'd love to see it, but -- because he would be an easy opponent in november -- but at this point my guess is it's either ted cruz or marco rubio with the more establishment republicans falling behind rubio, but there is this -- it seems to me if trump does begin to falter cruz is the like least to get his votes. so that's what it is. i also don't rule out that hillary clinton will have two opponents, either cruz and rubio and donald trump. i think it is possible that trump could reconsider his decision not to run again if he can make a plausible case which he can make in his own mind the plausible case out of anything that he was mistreated. >> what do you think, larry? it's amazing we have gone this long -- it seems like the campaign has been going on forever and not a single vote has been cast to this point. >> that's correct. a lot of polling. the pollsters have had a banner year. >> you bet. >> pollster revenues are up, they ought to gather together and create a publicly-owned company because they would do extremely well. but i guess i have a few disagreements. first of all, i think if donald trump finishes second in iowa, if he wins new hampshire and he wins south carolina, and i think those are plausible scenarios, he is going to be the gop nominee. he is going to be the nominee. >> who wins then? >> i think he's very close to getting to that spot. he's running tv ads as you know. >> who would win in november, then? >> who would win in november? >> clinton versus trump. >> i think trump beats clinton substantially? >> really? >> really. that's why i said it. >> wow. >> i think that hillary is a weak candidate, she's got so many weights around her neck and ankles, including her husband, including president obama, including her flawed diplomacy with respect to iran and libya, including the al qaeda issues, including, by the way, the economy. let's face it. you have a two-term president, then the person succeeding that two-term president inherits the presidency. so she has to inherent president obama's presidency. i think president obama is extremely unpopular today and will become more so. i think those are big minuses for mrs. clinton. >> barney, what do you think? hillary versus trump and larry says trump wins. >> i think the more interesting thing that occurs to me is larry versus reality. frankly i'm disappointed, i never heard such a partisan diatribe in what's supposed to be a thoughtful conversation. >> i actually mean that. >> larry, please don't interrupt me. >> i'm serious. >> can we get ground rules set here. larry, the constant interruptions, it really isn't helpful. >> yeah. >> it was a diatribe against hillary clinton including great exaggerations on all counts in terms of diplomacy with iran, let's start with that. as a matter of fact, the greatest progress iran was making with regard to nuclear weapons uninterrupted was under george w. bush. i would have liked to have had an earlier or even better resolution, but the president obama record regarding iran is better than the bush record regarding iran. there are realities that you have to deal with. as to the economy, once again, comparison very much favors the democrats between the bush years and where we are today. and the argument that donald trump is going to beat hillary clinton is fantasy. he has unpopular marks very, very high, huge segments of the electorate aren't there, there are already republican candidates who said they couldn't support him. so as i said, as a democrat i would love to see trump, i don't think it would be the best thing for the country. the notion that he is going to win -- he is -- here is what i will make this prediction. unrealistically trump is the nominee it's going to put republican candidates for congress and governors in the worst bind since larry wold water with a similar result. >> i've got to go. >> i'm not saying trump is going to win i'm just saying he can beat hillary, that's all i'm saying. >> we are on the record on both of those. guys, i don't know, you know -- i'm going to go out on a limb myself. we have all thought the same thing, you guys should have your own show on cnbc. we would love to see you going at each other. happy new year. >> i'm in. >> we will see you tomorrow. >> sign me up. happy new year, barney frank. >> happy new year. >> you too, larry. happy new year. >> i love those guys. tomorrow not only rings in a new year but new laws as well. we will take a look at the new california law aiming to close the wage gap between men and women and which companies could be most impacted. kate rogers with that story when we come back. anines. anines. are you a dog lover, watson? i do not own a dog. but i work with veterinarians. how do you do that? i help them analyse over one hundred thousand pages of medical studies. that's great... 'cause they can't exactly tell us what's wrong with them. isn't that right, rusty? rusty. who is a good boy? who is a good boy? you are. yes, you are. watson, i think you need to work on your dog voice. 's . >> >> employers in california are scurrying to cut the divide between the women and men's payroll. forget equal pay for equal work. california's law calls for equal pay for substantially similar work, as the previous definition was deemed too narrow. you're probably wondering what substantially similar means. employees are, too. businesses will audit their own pay scales to determine fairness as the burden of proof falls to employers. the law makes it easier for workers to challenge the fairness of their pay and bans employers from punishing workers for discussing salaries with co-workers. this is important as women make 82 cents to every man 's dollar in the state of california. the law will impact a wide array of industries in the state with companies like apple, google, disney, wells fargo, chevron and amgen all head quartered there. i spoke with san diego state business lecturer dan eaton who told me he wouldn't be surprised to see the first lawsuit on the issue in january. back to you. >> kate rogers, thank you. that will be interesting to see what happens. >> a lot of wage changes coming in states and cities. new yorkers getting ready for new year's. come on in pop pop. happy birthday. i just had a heart attack... and now i have a choice. for her. for them. and him. a choice to take brilinta. a prescription for people who've been hospitalized for a heart attack. i take brilinta with a baby aspirin ...no more than 100 mg. as it affects how well it works. it's such an important thing to do to help protect against another heart attack. brilinta worked better than plavix. and even reduced the chances of dying from another one. don't stop taking brilinta without talking to doctor. since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers. a history of bleeding in the brain, or severe liver problems. tell your doctor about bleeding, new or unexpected shortness of breath, any planned surgery and all medicines you take. i will take brilinta today. tomorrow. and every day for as long as my doctor tells me. don't miss a day of brilinta. with just a little more than seven hours away from midnight here on the east coast, new york city stepping up security ahead of time's square iconic ball drop. >> sara is there live with all the details of the preparations. >> with the eyes of the world on times square, security is extra tight this year, officials using enhanced measures they never used before, like some police officers carrying long guns. 6,000 new york police officers are assigned to times square tonight on the ground, on the water and in the air. there's also going to be bomb-sniffing dogs and chemical and radiation detectors. the crowd has already started to gather. we started to see them come about 11:00 a.m. eastern time this morning. they are being treated to sound checks before the snow really gets under way. when that ball drops at midnight, it's going to be mass celebration as everyone says good-bye to 2015 and ushers in the new year. back to you. >> thank you. of course they do the sound checks during the live shots. >> 46 in times square. not too bad. the predictions you have not heard yet. michael santoli gives his next. our research shows that people really like how with directv you could put tvs anywhere and not see cable wires and boxes in every room. why can't we get people to just say cables, schmables? hold on, hold on, i really like what you're doing there because if we just add "schma" in front of something, it just doesn't seem like a big deal. boxes, schmoxes. there you go. cold sore, cold schmore. yes! scotch, schmotch! what? i'll take some of that schmotch! alright. schmank you! (vo) get rid of cable and upgrade to directv. call 1-800-directv. sup jj? working hard? here at the td ameritrade trader group, they work all the time. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. i feel like elton john, but i'm told i look like charles nelson reilly. do you know who he is? >> i don't know. >> hollywood squares. >> to block. >> michael santoli, this should be good. >> a tough call. especially tough call this time. this market surrendered the benefit of the doubt. i still think in the early part of 2016, the stock market does make a run to new highs. sentiment is moderate right now. this flat year warned everybody out. it does tend to break to the up side. i think oil's influence on the stock market might be peaking right now in terms of, as well on credit. i think we'll delink from the energy markets. for a while, main street could outperform wall street, meaning that main street can thrive and catch up to the lead wall street set out for itself from '09 to 2014. i'm not giving you a year-end s&p target, but those are things i am watching right now. >> before we go, just a quick congratulations to one of our beloved producers on "closing bell." bonnie drucker is a canadian by birth, but now an american by choice as of yesterday, officially became a citizen of the united states. she knows now more about u.s. history and everything about the united states and how it works as she got 100 on her test to become an american citizen. we could not be more proud of you. >> a great picture. congratulations, bonnie. you can go back to canada cheaply with that cheap canadian dollar. >> that's it for "closing bell." >> happy new year! >> good luck with the new show monday. >> wake up early 5:00 a.m. >> happy new year, everybody! live from the nasdaq market site in the heart of all the action tonight, that would be new york city's times square as we count you down to 2016. i'm melissa lee. our traders seated up ready to ring in the new year. banking on biotech after a strong finish in 2015. what are the next big catalysts ready to send the sector soaring? later, capitalizing on the times square crowds from appleby's to olive garden,

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