Fireworks celebration. The building very near the worlds tallest building, the burj khalifa. There were no fatalities. 14 people were hurt. Possibly more. Were not sure we know for sure. All the while citys planned fireworks celebration went on as planned. It was strangest thing i ever have seen. David it was extraordinary. Onlookers didnt know what to look at, what was more spectacular sight, a sight of a burning skyscraper or fireworks display. There are a lot of questions whether what were hear from the Dubai Government is accurate. It is extraordinary if there are 16 minor injuries, excluding one heart attack from this massive fire. Hard to believe the story weve been hearing about, it having been set on 20th floor by curtain fire. It is not only above the 20th floor but clearly fires are down on the bottom well below the 20th floor. Joining us on the phone james mcmull lan, former state of california chief fire marshall and founder of the mcmull lan fire company. There are flames well below the 20th floor. Can we discount the theory. A fire can go down if burning brands carry it down. A fire can go up like a chimney fire can go up. Fire could have started on 20th floor and extended up and could be case. David people in new york are particularly sensitive to this, we might see collapse of guilding engulfed in flames like we did on 9 11 with the world trade center. Is that possible here. It is possible but not probable. Probably not. The reason the other side of this build,ing a we can see from the news accounts is intact. We dont have a series of injuries or fatalities. So the fire has been mitigated from entering the building itself and running primarily the exterior of the building, making entry in a few place, but being held in check by effective fire sprinkler system. Melissa when you look at fire from outside and look at pictures, what does it look like to you . What do you think could have possibly happened . What is most likely scenario based on the physical evidence so far . Two things. One is, we talk about how the fire started. The second is, why the fire progressed the way it did. The second one, fire progressing is what we call fire lapping, where the fire lapped up the exterior of the building and in this case the balconies apparently had what is known in the business as heavy combustible loading. Different material you put out there to enjoy your balcony. Those quite off the are flammable and burnable materials. As the fire causative factor could be anything from fireworks to cooking materials. You cant rule out terrorism either. So you got three possibilities at this point. David Marshall Mcmullen thank you very much for joining us. Youre welcome. Good day. Melissa joining us walid phares, fox news middle east and terrorism analyst. Walid, dubai carried on with fireworks display with flames engulfing the building so nearby if what do you make of that . Experts are first one to determine the Government Experts in u. A. E. Number one and private experts are looking into this multiple theories. One of which is that it just happened that there was an accident at one level and then because of the type of material it did go, the way it did. Lets remember there are two other elements. This is new years eve. This is symbolic. Were around the world monitoring attempts for terrorism. This is not a regular day for accident like this. Second, u. A. E. Big picture is in hold with activities in yemen, had problems with iran and al qaeda and Muslim Brotherhood. So we have to be waiting, 50 50 if it is accident, experts on technology will determine that. If it is not accident, then at least in the beginning stage we have plenty, plenty of things well be looking that, not now at this point. Melissa do you think part of the reason they go ahead and keep going has to do with idea were thinking well not be bullied . Or is it just, i dont know, some people were speculating this incredibly expensive area. They put zillions of dollars getting this fireworks display ready. They would go on with the show unless, you know, i dont know, something, even larger than this would happen . What do you think . I am assuming that the very short conversation between rulers and decisionmakers on ground and chief of police, we know how the u. A. E. Makes their decision, that conversation should have been i think, i project was very short. High decisionmakers must have said were going to go with it, no matter what. No matter if it is accident, we dont want to show we is accidents. If it is terrorism, we dont want to show terrorists well expect to destroy our event worldwide because of that that decision was made very quickly. David walid, would dubai officials have any reason to cover up if they knew that it was a terror attack . No, they dont have any reason to cover up but they are im sure, waiting for actual material evidence of either direction. If it is terrorism, it is much bigger problem. If it is accident, it could happen anywhere in the world. Dubai is one of the most advanced places, has the best technology in the world. We know this, look at the skyscrapers. One indicator, believe me, that those in charge of terrorism in dubai are not sleeping. They have many enemies. They are very precarious. This reminds me of situation between north and south korea. It is very precarious. Theyre fighting in yemen against proiranian militia. They have not. They put Muslim Brotherhood on terror list last year. A lot of people who do not like them but we can only begin thinking in that direction only when officials tell us it is not an accident. Melissa walid phares, thanks so much for joining us. We always appreciate your input. The world is on edge on eve of the new year. This after the fbi arrested a man in upstate new york with plan to target a restaurant on new years eve on behalf of isis. I spoke with howard safir, former new york police and fire commissioner said the big events are all key targets for terror group. This when i was a marine, we would call this a targetrich environment. We have some iconic events taking place, times square, the rose bowl, other bowls. Ncaa playoffs. Thighs are targets for isis. Melissa joining me now, fox newss laura engle is live from times square. Talk to me about the scene there, laura, how is it . Reporter melissa, the crowds have been growing and growing all day long. Times square is filling up. Estimated crowd of one million people, more importantly for this year well see more Police Officers at this new years eve celebration in times square than ever recorded here in the history of this event. 6,000 officers, 6 to 800 officers more than weve seen in previous years. Our cameraman can show you, he will push in and show you what is happening with the pens being filled up. He will swing around to show you what is right in back of us. Look at all the people cramming up against these fences and officers here to keep them safe. Some of these officers will have radiation detectors, bombsniffing dogs and rifles, nypd response command which includes 500 officers trained for counterterrorism also in the mix. Some positioned with long guns along tops of buildings here. Of course there are thousands of cameras positioned throughout. The nypd says there is no credible threat to new york city. One of the things you spoke of there at the top was the arrest in rochester, new york. We have a picture, mug shot of the guy who was arrested. He is a 25yearold. He was arrested for planning an attack tonight at local bar to prove to the Islamic State that he was quote worthy to join isis in syria. His name is evennal all. Was charged with providing Material Support to the Islamic State. He was planning to kill innocent civilians on new years eve. Planning to get as many as he could. Back here in times square, action is unfolding nypd is assuring everybody to come to the party. Let them worry. They have been working on security plans when the ball dropped last year. A lot of things ramped up since last january but they are ready for anything. Back to you. Melissa laura, thank you so much. Have fun. David well walk through that in couple minutes. Melissa couple minutes. David new years eve terror threats overseas. Belgian police arresting six people who carried out terrorist attacks in brussels. Benjamin hall is live with the latest. Hi, benjamin . Reporter hi, david. They canceled major fireworks in paris an brussels because of threats to the events. Around europe tens of thousands of police fanned out to prevent possible terrorist attacks. Decision to cancel events after a raids were made in brussels. A 10th man connected with paris in the molenbeek. Third was arrested on a plot to carry out attack tonight. Earlier the authorities arrested men charged them with terrorist offenses. They found training uniforms, propaganda at that isis and computer material. In turkey, ice men were arrested, pictures released, suicide vest, bomb vest with ball bearings and bombmaking equipment, suggesting that numerous plots have been underway. Response to canceling these events is twofold. Some people say right thing to do, better safe than sorry, but other things that by canceling them you let terrorists win like this man in belgium said. Backing down to the threat of terrorism. We should stand up and make everything happen. No point in running away from it. I think they should have gone ahead with it. Reporter mixed emotions in brussels and around europe. In paris, 11,000 Additional Police have been deployed, fireworks have been canceled but the champselysees where people gather will remain open. The mayor of paris says after what their city lived through the people of paris and france, need symbolic passage into new year. Despite arrests seems like authorities are worried about an attack of the as midnight approaches people are feeling pretty intense over here, david. David we have couple hours. Thanks very much, benjamin hall. Were less than eight hours away from new years here on the owes coast. It arrived already in moscows red square. This is moments ago. Look how theyre celebrating in russia right now. Dow jones industrial average unable to end the year on a high note. Melissa to say the least. David same with s p actually. We have a recap on stocks in 2015. And what to look for in 2016. Melissa university withs in missouri and illinois are still on the rise as floods reach record levels, knocking out major interstates and threatening homes. David bill clinton making big bucks on speeches in countries that werent on the best terms with america. Did his state department connections, were talking about one in particular, help him out . 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 no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. 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. David kind of a mixed year for stocks. Dow, s p 500 and russell 2000 all down for 2015. Nasdaq had healthy gain in the u. S. Lets go down to lori rothman on the floor of the nyse for news on this years biggest losers. Im still working. People are pouring champagne. David i hate what im not invited. Dow is lower on the day and year. Were up 178 points. 17,425. That puts us 398 points on the dow, down from break even point for the year. The dow for the year is off 2. 2 . 2008 was the last time the dow closed out the year with losses. We were coming in from the financial crisis. Dow was off 33. 8 . Decline this year of 2 not as bad but not great either. Nasdaq, what it is worth, posted gains for the year so there is that. In terms of performers, lets unpack the dow itself and 30 component members. Winners this year, nike, mcdonalds, home depot up 20 6 , ge, microsoft. Technology real buoyed broader market. Losers, biggest losers, walmart down 28 . Caterpillar off 25 . Weak global economy. American express off 25 . Oil, we know suffering in sympathy and United Technologies are the losers. David cheers. Melissa knows, i only need one sip and im toast. Melissa lori, dont do it. Oil down 30 . Gold down 10 1 2 . First time since 1984, where dow, oil and goldenedded all in the red. Scott martin, united advisors, Fox News Contributor and James Freeman of wall street journal. James what do you make of this year . Obviously not a great year, this past one but i think this coming year, 2016, this is going to be the beginning of the postobama rebound. I know he is still in office for another year. People anticipate better times ahead. Graphic on oil giving us a lot of cheap gasoline. I think this year we see impact of that. Melissa james is so optimistic. I am. Melissa scott martin, do you share that optimism. Not really. Melissa no. Since obama, unfortunately has been in the oval office, the s p done pretty well. Not that he has anything to do wit but its a fact. Melissa, this is tough year. As humans we think calendar turns over to 2016 and things will be different. Market doesnt look like that. For me, as lori highlighted in her year summary, same kind of issues with industrials, energy, commodity related names and better news in things Like Technology and Game Changers like amazon and netflixs of the world. If youre at home investing thinking where you should go, i would think that this years losers, todays losers all of sudden become next years win years james, last hour i heard somebody saying oil will bottom, take advantage of energy, and by the way grab chipolte as well. That sounded like such a recipe for indigestion i cant even tell. You i didnt hear a word he said so i cant respond to it, but as far as you just said i think, i love picking upbeaten down stocks but chipolte i worry about as a longterm trend. What if people finally figure out that natural doesnt necessarily mean healthy . Nature is very dangerous place. Organic farming can be pretty dangerous in terms of the bacteria on the food. So, im not sure about that one. As far as oil goes, i mean this is love to say certainly due for repound. Production is coming down. On the other hand mark mills of the Manhattan Institute says we have thousands unstimulated wells in the u. S. Just waiting to be tapped. I think that price could stay low. Melissa scott, really quickly. There is reason we put pesticide everything. I love concrete. I hate nature. I hate environment, hey . Where am i going wrong . James is partly right. I think Going Forward if you want to get back to natural stay stock bond allocations i think you will be disappointed because what happened in the last decade, stocks and bonds correlated to upside. I think 2016 could be year they both go down together. You have to be careful. Melissa i think organic means there is bugs in your food. See you later. Melissa david . David nature is not always healthy. Melissa it is buggy. David can be. San bernardinos neighbor and friend Enrique Marquez indicted for conspiring with syed farook and his wife. We have all the details coming right up. Melissa record floods raging through the midwest. Leaving at least 20 dead in their wake. Well update you on latest weather and rainfall after the break. Stay tuned. Melissa record floodwaters inundating the midwest and floodwaters leaving people with no place to go. The water is blamed for 20 deaths in missouri and illinois. Fox newss matt finn is in missouri with latest. Matt . Reporter melissa, im standing near the Merrimack River which is at a record high. The damage has been done. Out in river, there appears to be a home, rooftop of that home just peeking out of the surface of the water. That gives you idea of magnitude of flooding here. People tell us here in the town they used 145,000 sandbags to try to fight the floods but the mayor a few hours ago saying they lost the battle. All the sandbags are under water unfortunately. Mayor is saying at least 100 homes damaged or destroyed by the floods in small towns here. Residential areas give you idea of flooding. Too dangerous. Too many road closures. May not look like much at home. This may be only major road left in the region allowing cars head north or south. Interstate 55 and multiple freeways remain closed. This is only road which people get north or south in this entire area. Seeing a lot of trucks and tractortrailers coming through because they dont have access to the interstate. The chief of police says this is the worth Natural Disaster to it this small town. Many neighbors we spoke to comparing to the flood of 1993. That flood was called a one in 500 year event, melissa. Melissa matt, thank you so much for that report. Stay safe. Be careful. David ill say. Very busy news day but a couple of other stories on the radarwer want to talk about. Enrique marquez, friend of San Bernardino shooter syed farook was indicted by San Bernardino grand jury. He is suspected of buying rifles used in the attack since november. The mother of the affluenza teen is back in the u. S. Ethan couch and his mother tonya couch fled to mexico when a video surfaced showing the well to do teen violating terms of his parole. She is charged with aiding her son. There may be regulations to add to small scale gun sellers according to report from poe h powe lit coy. Powe lit coy. White house not confirming on the report but president expected to react with gun control very soon. Ben carsons top aides resigned today. Well tell you who is in and who is out. Coming up next. Melissa fire tears through a luxury hotel in dubai where the city carries on with its festivities. Well keep you updated. E future. Like turning algae into biofuel. New technology for capturing co2 emissions. And cars twice as efficient as the average car today. Ide