The crisis in the middle east. Usually oil spikeses when that happens. Not today. Thats a great point. Options pit. Com founder Mark Sebastian in the, in the pits of. Ashley webster on floor of the New York Stock Exchange with the selloff. Ashley, what happened . Interesting, melissa, just to davids point. Tells you what kind of day it was when the dow finishes down 270 points. Hey, nice comeback. We were down 400 points several times throughout the session. We knew it was coming. We saw a big selloff in china. Weak Economic Data out of china. That spread to europe. We knew at opening bell today we would kick off the new year on adown note. We were off 300 points literally five minutes into the trading session. Weve been down there throughout the day. At last i would say five to ten minutes we saw some people perhaps jumping back in to to up bargainsselling was broad based across the board. Financials and tech stocks particularly hurting. I want to mention oil, something david mentioned. We saw a spike in oil when the session began which we expected with the tension going on in the middle east. Then as day and morning progressed we saw the price of oil drop . Why . Because i think concerns over Global Economy and china, the fact were still oversupplied in oil, brought the prices down despite what is going on between saudi arabia and iran. The big question now, guys, what happens tomorrow . Well watch asia overnight very closely. Melissa very true. Great analysis, ashley. David ashley killed my intro to the next segment which is all about oil. With all the tensions escalating between two oil powerhouses like saudi arabia and iran, you might expect price of oil to skyrocket. Look at this, oil ending day in the red, tough ask why. Mark sebastian, we heard ashley tell us, it was worry because of a slowdown, the Global Economic slowdown. Will that continue . If so, does the price continue to drop . I dont know if were worried as much about Global Economic slowdown as it is supply issues. When we had the france terrorist attack, i said to everybody if youre selling stocks because somebody did terrorist attack its a mistake. With the amount of oil supply worldwide, if youre buying oil because two Oil Countries are in a fight, youre also making a big mistake. That is no longer, saudi arabia and iran can no longer dictate oil prices. Much less of a story. That rally in oil was traders opportunity to takeover night long position or fade a move. Equities similar to today, equities are setting up, as i walked into the board of trade i was avoiding so many euthanized cats because traders were looking for a bounce. I thought traders were looking for bounce in s p and oil. I dont think you can buy oil about political, best rift on a deadcat bounce i ever heard, mark. Congratulations thank you very much. Thank you. Melissa Jonathan Hoenig of capitalist pig hedge fund, fox news contributor, moodys chief economist john lonski. John, let me start with you. What is going on in the economy . You hear people talk about it has been eight years since the last recession even though most people dont think we got over the last one. That is some of whats in here. Concerns about china as well, and about europe, what do you think is going on with our economy . For starters this remains the dullest economic recovery since the 1940s. By the way the atlanta feds now gdp forecast for Fourth Quarter growth was cut to. 7 of a percent in response to latest news on ism as well as drop by Construction Spending for the month of november. That forecast was high as 2 , recently as middecember. Melissa yeah, that is a huge factor. That tells us a lot. Jonathan hoenig what do you think happened at end of trading that we saw bounce back . I suspect electronic trading phenomenon . I think the bounceback is much less prominent than the drop t didnt start in the u. S. As was pointed out this started overnight. To that extent this is reminiscent what happened most of 2016. Weak u. S. Markets on back of weak china, weak emerging markets and strong u. S. Dollar. Were seeing 2016 ironically pick up very much like 2015 left off. What worries me today, not a lot of stocks doing well across the board. 250 new 52week lows. Only a dozen new 52week highs. That means breadth is still very weak. Melissa given a what you told me, john lonski, what does the market hold forethe year and start small for tomorrow. Might end unchanged for 2016. Im looking some sort of a bounceback a brief one. There is no convincing evidence were about to enter into extended contraction by profits that would lead to recession. Were not there quite yet but weve got to see faster Business Sales growth outside of energy if were going to be confident about realizing enough in terms of profits growth so that we dont begin to observe an increase in unemployment. Melissa jonathan what do you think about tomorrow and rest of the year . What is your bet on markets . Im worried longer term, melissa, about a credit shock if you will. Chinas expansion was built on expansion. Same thing with our socalled expansion here. Given junk bonds, leveraged loans, all those kind of highrisk credits have been i would be hesitant to put a lot of bids in this market until a real sustainable bottom of fear have been seen. Melissa unfortunately those are great points. Jonathan hoenig, thank you very much. David. David president obama returning from the holidays with new plans for federal legislation on gun control and they do not involve congress. He met with attorney general Loretta Lynch to control ownership and sale of guns through executive action. That is not the end of the gun control agenda for the week. Peter barnes has details. Peter . Reporter thats right, david. President is expected to sign executive orders on gun control sometime this week, based on recommendations from the Law Enforcement team. Recommendations reportedly could focus on expanding background checks on gun buyers and closing exceptions for small scale gun retailers. Current law exempts retail thats sell weapons online. Another executive order could make it easy illegal for some people accused of Domestic Abuse to buy a firearm. These are not only recommendations well within my Legal Authority and the executive branch but theyre also ones that the overwhelming of majority of the american people, including gun owners support and believe in. Reporter the president plans to take his case to the public in a televised town hall meeting on thursday night. Some republicans on the president ial campaign say that if elected they will roll back obamas executive orders. President obama is talking about this week issuing yet another executive order trying to go after our right to keep and bear arms. [booing] well he can abuse his power all he wants. He has a phone and he has a pen. If you live by the pen, you die by the pen. My pen has got an eraser. Reporter in a statement House Speaker paul ryan said none of the changes that the president is considering making would have prevented San Bernardino and other terrorist attacks. They should address Mental Health issues and use existing laws to help stop gun violence. David. David peter barnes, thank you very much. We know the president wants more gun control. We know how he will do it, going over the heads of congress for executive action. The question, how will congress react . Katie pavlich, townhall. Com news editor and richard goodstein, former 2008 Hillary Clinton campaign advisor. Paul ryan adds to chorus of those republicans against this. President obama acts as right to bear arms is something to be tolerated but in truth as the Supreme Court reaffirmed in 2008 it is fundamental. Same goes for constitution on executive power. Those are nice words but if the republicans dont take a firm stand on this theyre finished with their base. I think that is bit of overstatement that theyre finished with the base, depends on what president obama is deciding to do. When we hear about background checks from the white house, theyre redefining the term, engaged in the business. What they are going to say, gun dealerships selling fewer guns subject to applying for federal firearms license. That is something that can change congress can rewrite the raw to do. President met with Loretta Lynch to do what . To go over the what the law currently states and what the executive branch can get away with inside the law. Lets not forget the president obama is not shying going above and beyond what the constitution and law allows him to do. In turn he gets sued by congress and plays out in the courts. That is something on the table. David richard, where is the public outwry that outcry, if i feels he has to go overheads of congress. Looking at cnn poll. Cnn cant be considered conservative. More americans oppose more restrictive gun control. Fox news poll, would be fewer victims of Mass Shootings, only 29 believe that. 59 say there would be fewer struck timms of Mass Shootings if there were more lawabiding people carrying guns. Where is the public support . I think what you just showed, david, look at exact same poll, look at different questions in it, come to different conclusion. That cnn poll asked people, do you think it is too difficult or too easy to get guns . Too easy, 55. Too difficult . 4. They were asked do you support background checks. By 89 to 9 the public, exact same poll, they were asking different questions, said yes. There should be background checks for people. Look, the fact there are. Millions of them. Hold on a second. Fact of the matter is, what president obama is trying to do is keep people from getting guns to people who shouldnt have them. And that is simply david hold on a second. No, no. You had plenty of time. That is protecting your neighbor. That is all it is. David katie, the fact is, americans want some kind of consensus. When it comes to gun control, fiddling with the second amendment, in in way shape or form. Vast majority of americans want their to be consensus. Executive action opposite of consensus. It is opposite of consensus. Were having this debate as if background checks in america dont exist. Fbi does tens of millions of gun background checks every single year. The fact youre asking, dade, where is public support for this . President obama had a chance to to this in 2013 with the help after Democratcontrolled Senate and it failed. Not because of republicans but because of democrats the. David could have done it in 2009, 2010. He is choosing to do it now. David i think democrats are as afraid of this issue as well as conservative republicans how paul ryan might react. Final word, richard. Got 56 votes in the senate. Yes, because of the perverse senate rules, it failed. David perverse senate rules . Senate fact. Matter is, president obama issued half number of executive orders of that makes it okay. David we had explanation why he is using executive order, because of perverse senate rules. I guess that justifies executive action. Well see you for another debate coming up. Melissa my goodness. Dont miss judge andrew napolitanos take on issue. He has some very clever things to say. He will join us later in the hour. I got preview. Interesting arguments. Cutting ties with iran, saudi arabia seven have you everring relations with iran and it is not alone. How it will impact the u. S. In the fight against isis. That is coming up. David also he who must not be named, former president bill clinton, hitting campaign trail, not taking a direct shot at donald trump but rather a message about the entire gop field. Melissa return of quarterback Peyton Manning, suiting up just in time to bring his team to victory. Ufor four years, you named it brad. You loved brad. And then you totaled him. You two had been through everything together. Two boyfriends, three jobs. Youre like nothing can replace brad. Then Liberty Mutual calls, and you break into your happy dance. If you sign up for better car replacement™, well pay for a car thats a model year newer with 15,000 fewer miles than your old one. See Car Insurance in a whole new light. Liberty mutual insurance. Put under a microscope, we can see all the bacteria that still exists. 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Ask your doctor about cialis and a 200 savings card. Melissa bill clinton 2016 debut trumped. The former president campaigning for his wife in New Hampshire today, marking his first solo appearance of the 2016 election. Fox newss ed henry is on the trail in New Hampshire with the latest. Ed . Reporter good to see you, melissa. Youre right, it is sort of a tagteam effort if you will. Hillary clinton in iowa, obviously first in the naics naics firstinthenation caucuses happening there first. Bill clinton first solo event. One event, very interesting. Maybe went on little shorter than he normally does. Not campaigning for himself. Instead campaigning for his wife. He had some missteps in the 2008 Campaign Going up against then senator barack obama. Some of that backfired on clinton campaign. They feel good inside of the clinton camp that he is one much their best advocates. Somebody that can talk a lot. He did. He will be interested in this, in the economy, talking about restoring prosperity for the middle class. This is obviously a big issue for our audience here. But also something that Hillary Clinton has been talking a lot lot. Bill clinton, knowing a lot about that from the 1990s. However the republican frontrunner out saying there is Political Risk here as well because he says bill clinton by putting himself out here will be fair game, his personal scandals. You have a republican superpac, America Rising out today, with a new video that goes beyond sex scandals, basically talks about the clinton foundation. Talks about bill clintons pricey paid speeches. Some of those issues have already been a problem in the campaign for the clinton effort. There are other issues that now donald trump says he will also bring up. Got to tell you, im here in exitter, New Hampshire. This is the same spot where john mccain did a lot of his famous town Hall Meetings in 2008 campaign. Bill clinton arriving a little while. There is big crowd here. It is packed. A lot of voters still remember him as comeback kid this is where it started you will remember in 1992. Hillary clinton needs his help. While she has a big national lead, leading in iowa for example, she still trails at least by small margin, socialist democratic senator Bernie Sanders from New Hampshire. He is from neighboring vermont. That may be giving him a littlea little of an edge. Were off to the races, ed, thank you. David weve been raising for an lo time. Katie and richard are back. Bill versus donald on sexism thing, that is getting a lot of attention, even Washington Post columnist, ruth marcus a person not particular fan of trump wrote following last week. She said bill clintons conduct towards woman is far worse than any of the offensive things trump has said. Trump smeared women because of their looks. Clinton has preyed on them, in a workplace setting where he was by far the superior. What do you say to that . Newt gingrich ran the entirety of, david of the 1998 Congressional Campaign in the middle of the whole impeachment process against that exact same thing. The exact same thing you just cited. For first time, ever, in american political history, in the sixth year of a president ial cycle, the incumbent party gained house seats and Newt Gingrich was kicked out and his successor could be kicked out, Bob Livingston because of sex problems of his own. I would love donald trump to be republican nominee. I would love their whole campaign to be benghazi, emails and stuff about Hillary Clinton. David really . You would love that. But katie the fact so far what is happening, hold on a second. We have two people in this debate. Katie, the fact is gop must love the fact that donald trump is bringing this up, particularly they see comments like ruth marcuss from the Washington Post . Look, i wrote an entire book about this, assault and flattery, war on women narrative the left tries to pin on right. Really left waging war on women for years. Hillary clinton was part of that. I mean lets not forget this isnt just about bill clintons behavior. This is about Hillary Clinton not only embracing the behavior to get ahead politically, but also engaging i