capabilities. that was interesting. blake burman is all over it. and last minute holiday shoppers getting christmas miracles. you know you had three days until christmas you can get a gift in less than two hours. just a few minutes. winter is just a day old at this point after last year's poor season. that was reason enough for us. we have done we've done that in lake geneva wisconsin today. you don't want to miss that. with some latest on some other breaking stories. it's all coming up. we have less than an hour to go until the closing bell. in once again for liz claman. let's start the countdown. welcome back. the major averages our falling today. for the second day in a row. it's down by 25 right now. so still you have your 80 plus points to get to the magic number if you want to call it that. we were couple of toy companies that are not exactly feeling the holiday spirit. we talked today about mattel. both trading lower reports of sluggish toy demand out there they reported toy sales were down 9% in the six weeks of the holiday season. was arrested soft sales. concerning season down a couple of names having big reactions. thursday. jumps more than 12%. the company reported that there was a 22% jump in revenue. better-than-expected forecast as well. today in the s&p. the cfo of the company resigns. stock was down a big time. you know about markets today. i guess it's one way of describing it. it rebounded with a strong u.s. gdp report. that expected drawdown in crude oil we had been watching at the price the price move higher in today's trading. let's get to the floor show. we have traders here in new york and chicago keep an eye on things. good to see. what do you think. it's an interesting week. we're getting closer to christmas now what you make of the trade. we don't see the major distances. we stalled out still do a little bit here the two main emotions that you have our fear and greed. they're doing a battle out on the playground. when we get close to 20,000 euros in intraday resistance level that people are afraid to break through. not all that surprisingly considering we've have the markets somewhat overbought. i fully expect us to get above the 20,000. this is the strongest week and the strongest month of the year. >> scott to tell us your take on why you are seeing that situation since the election. i think it is 17 record highs or something like that. the market has done so much work. not just because we have those. i think the market is looking for some sort of economic stimulus. i think there is a ton of money on the sideline. three of% pullback. i think if we be careful. i'm not sure altogether right now. i don't think it's that dangerous. they made a big move since the election. and obviously equities are up to. they need to see some of these indicators come through. it did give jeffrey a pretty good indicator. overall your take on today's action. >> i had been speaking positively about oil for the last several months. i think so far we have it right there. i think 55 is a fair target. everything is pointing there. they're not feeling each other right now. the stock market is showing some help. and expectations of good demand coming in. the market seems pretty healthy. they start to get excited with the 60 or higher. the equation will change now. you will have some of the shale guys coming back into the game here at this level. this is a very will priced market right now. i think everybody should be pleased with the way it performed over the last couple months. the round number means something. they hovered around it. maybe breaking through. it doesn't mean something. it probably means more. as soon as we tick take close to that it will push it over. to the humans it probably doesn't mean a whole lot. every time you get those pointers in the tao. i think that's where it will go. it's good to be here. hopefully you're right about tomorrow. >> we do have some breaking political developments right now. the president-elect saying that sean spicer familiar -- familiar name he held with the rnc in the first woman ever to lead a successful presidential campaign stepping into the role of counselor to the president. kellyann conway did take a job in the administration. there has been some doubts as to whether or not she would. blake is standing by with some perspective on these moves. blake is standing by with some perspective on these moves. this announcement cements the transition of the top staff moving on in to the white house. sean spicer who you are talking about was a chief strategist. he now has been elevated to the white house press secretary role. he was basically the right hand and as you know he will be the incoming white house chief of staff. in the meantime as well. the president-elect also unveiled at the kelly and conway will be the incoming counselor to the president. she had expressed some doubt in holding an official white house post but she left that off. watch this exchange here. and he was questioning. how is she can do it? she got creamed on twitter. not one because i don't want him to be creamed but i would say i don't play golf and i don't have a disk -- a mistress. i have a lot of time. she actually turned down the press secretary job. the bottom line what you have here is some of the candidates most loyal folks mean elevated in the white house. and that might be one of the best soundbites of all time. so the team is almost put together. they are the two cabinet spots. he has most of it in place for sure. back into the markets. we were down by just about 40 points. it's $4.8 billion deal with yahoo. and the oprah winfrey in the news. she announces she's lost 40 pounds with a new ad campaign. year. up next just three days until christmas. if you are one of those people amazon has this new service and have it available right here in new york city. so plenty of time. forget about three days. he will tell us how it all works. every day starts better with a healthy smile. start yours with philips sonicare, the no.1 choice of dentists. compared to oral-b 7000, philips sonicare flexcare platinum removes significantly more plaque. this is the sound of sonic technology cleaning deep between teeth. hear the difference? get healthier gums in just 2 weeks vs a manual toothbrush and experience an amazing feel of clean. innovation and you. philips sonicare. save now when you buy philips sonicare. generosity is its oyou can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. back on the floor. forty-five minutes to go in the session. goes down about 60 points. and 45 right now. we will see. we continue to move a little bit it came over not weaker than expected but a surprising slowdown. that is hurting many of the other retailers here. they also had a bust of a quarter not only did they miss but they lowered their full-year earnings forecast. fourth quarter is supposed to be the shining quarter for these guys. t to be that way. one of the sectors keep in it the tao for meeting that. laura will be back with us in a minute. amazon if you are a couch potato in your here in the city this is a story for you today. amazon has the amazon prime fulfillment center. you can get what you order in two hours which is perfect this time of year. so adam is there. he's there on the inside for us. >> this is important to make a differentiation. this is the prime now had. they are did not enormous. tens of thousands of items that not 28 football fields. there are 30 of these facilities nationwide in many major cities where amazon prime now services are offered which means if you are in amazon prime member you can order anything from bread to shampoo. you can order all of it at these places. and you can have it delivered in one hour at a cost of $7.99. if you don't want to pay 799 that's it within two hours for free as long as you're a prime member. the good news is if you live in an area that has one of these you have until 945 p.m. on christmas eve to order your christmas gifts and they will be delivered guaranteed by 11:59 p.m. on christmas eve. we really are in downtown manhattan. that's the empire state building. you can't see him right now. that's pretty good. my gets drowned to be like ten minutes. we are back here on the floor of the new york stock exchange continuing to watch a market that drifts lower. read almost 19,000. plenty of stories to talk about today. huber has hit a pothole on driverless cars. have the latest developments on that. and then the ski business so jeff flock is skiing. if it looked like a perfect day for skiing it sure is. we will tell you what the ski season looks like. fdr today is boosting the rating to outperform the 2-dollar targets. that's where they do the trading here. after a rough ski season last year. the 20162017 season is off to a great start. many of them have already seen so last year it was rough. was down one and half percent. with that jeff is not exactly extending my but he is skiing by he has been working throughout the day i don't know if you want to be on his crew working the story but things are getting better this year for the skiing. if you know how to ski it's making it a lot easier. here we go. i met the mountaintop. he just help me put my ski back on. has your report last year it was terrible. it's all about the weather. if it's bad weather you can't ski. at the a perfect day today. they have all of the snow early last year at this time you are mowing grass up here. in the forecast is for continued cold weather and snow. everything is open. you see all of the little ones running around. as you point out not go too fast. that has been with us at the camera we knocked him off of a cliff earlier. he lived to tell about it. what more could we ask for. you talk about someone who needs overtime pay. jeff flock has been known for the walk and talk interviews. back to the markets. here on the floor of the new york stock exchange where the dow is down 37 we will keep monitoring it. the unicorns by the definition but could this mythical creature be ready for come back next year. that story is coming up in the search for the suspect in the deadly german christmas market attack now standing --dash spinning all of europe. holiday celebrations are kicking into high gear. the countdown is coming right back. >> i'm lori bachman. today's foxbusiness text minute. they are forcing huber to pull its new self driving car. just one week into testing. there were two permits to operate. this is the self driving car. it is in talks with the way mode. shares of google are in opposite directions by half a%. af highly anticipated ipo. the countdown continues. [vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. this is my new alert system for whenever anything you create custom alerts ready for all the things that are important to you. i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade. >> we have some breaking news for you. it's --dash cam video from germany that has just been released that took place on monday night. there is some immature --dash cam video they came in. they said today that after the first official forensic report the concern with fingerprints and the sky. he have indeed been found in the truck that was used to kill 12 people. also other places in the area where he was known to have last lived. there is yet to be any arrests made. we will continue to follow that story. we continue to watch it from the floor. on track here for about it looks like it would be the first back to back a decline in like seven weeks. will we just be hovering around the 20,000 mark forever. let's get to another floor show for you. the new york stock exchange. we have seen the last really big round on the right. as history repeating itself. to back to back down days. we can make up 40 points in like seconds. psychologically 20,000 is becoming a big number. this has not been a historic rally. anytime you get a rally like this at the end of the year could we enjoy it while we have it. your outlook for markets heading into 2017 what is your level of bullishness. >> i think the markets will be friendly right through the inauguration. and then we will see what the snap -- the cabinet does. i think the first quarter will be rough. retail sales are to come in from brick and mortar. if i'm right on that it will start pulling back a little bit. no matter what he puts in the play the past two years we've have a two --dash a rough quarter. that's where i think we are going. it's interesting what they say. on the one hand they have numbers like improving the economic number and on the other hand you have what were bringing up about the economy. in for holiday shopping and retail figures. i think the economy itself is really playing second fiddle to the markets moving on their own. over the last eight years. they've have nowhere else to go. over the last three months it's been a catchup game for a lot of people that were on the sidelines. a lot of the push-up the first quarter will be a dicey one especially since president-elect trump hasn't even taken the job yet and we haven't seen any of the performance come through. i think the fed will play a key role it was anticipated for midyear. think should continue to go smoothly. i will like them in this case. and growth is where we need to begin. thank you very much to all three of you. we will come back to those topics. the market just its way towards a 20,000 mark. and we keep talking about it. there is one market that has not been shining quite as bright. the initial public offerings and track for untracked for the second worst year since 1992. we are now ready for liftoff. they are looking at companies like snap chat and spot a five. the ipo market leader jackie joins us right now. this was a topic or. we were expecting it. to top that off with brexit and even market corrections along the way. it wasn't anything unexpected. but exactly to your point we are really bullish on 2017. maybe you and others are excited about. a lot of people have heard of. the snap chat at the top of the list. what do you really expect next year. it's probably closer to what we saw in 2015. we will even get a lot of energy around technology. we were closer to 270 ipos. that said i'm expecting a lot of unicorns to start emerging some of this will go out. we are seeing them line up for 2018 as well. the consumer products. as well as some continued activity in healthcare. when it comes to taking companies public will a president trump be someone and how does that manifest itself. i feel like capital markets are bipartisan in this regard. i do think people are very energized and excited about some of the policy changes. some of those will really benefit some of the emerging growth companies that are looking at capital markets. there may be other committees that will be adjusting their strategies. i think the policy changes discrete energy and change is good. i appreciate you coming on today. we hope you're right about 2017. because of the close we had been talking about. it's almost a hundred points shy . we will keep talking about that next. this rally that we've been talking about for weeks now sending good vibrations to all corners of the markets. short sellers obviously could be missing out. we had been talking again today about president-elect donald trump and the pro- business policy proposals. they had been helping the stock market. what if you are well-known short seller in this environment. they're going to be vetted against stocks. the president of revolution for innovation market. just ask you about those other questions. for someone betting against stocks will be similar at how and how it has been this year. i think people right now darling you stipulate like there is a president-elect there is a little bit of a honeymoon this is a real. once we get into office. the paradigm change with trump is that there never was a high meat -- honeymoon. it was a lot of things left in this market especially after this. to turn into increased corporate earnings as well as increase that is stifling growth especially here in the financial district but certainly across the country. >> i would say this. we should just unpack what he does. he runs a business that lends to the shorts. >> he basically understands when there is a need for borrowing that's how you short a stock. john. the very expensive here is what is interesting about the last couple of days. you don't want to base a whole market theory on it. close to 20k on the tao. hasn't really gotten there lately. there is a degree of pessimist him. not that he doesn't had progress. it is never good for the markets. it's problematic from the markets. then we also have the fact that donald has an info structure plan as well. if you go for the infrastructure plan at first or does he go for the tax cuts at first. it's very interesting that when the rubber meets the road and doesn't become president-elect trump if to deal with mitch mcconnell who is not going to want to spend on everything. the degree of passes system is actually starting to seep into the markets right now. the shorts are usually right. in the past i've been coming on the show for seven or eight years and usually when they start to really act up. there is a behavior after that to the downside. when i see them laying off of shorting stocks the smartest guy they can't predefine their short side. they are talking about they don't want to be sure to trump because when the pros -- progrowth does start to kick in. when that growth starts to kick in and american jobs kicking and this is real growth. we've been suffering for years. >> i like his tax plan or regulatory plan. if he does engage in higher tariffs if he doesn't does put the infrastructure spending plan which is a big ticket above the tax cuts maybe that is when the shorts start shorting. this market is acting weird. the reason why it started to lay back. he started to get into a little bit of china butting heads. in the stuff with the trade. he hasn't really picked a real progrowth person in his economic team. on the supply side economist. and he is still out in the cold. i think larry is in his year. i think trump knows that and he's been he is in talking about his policies for a while now i hear where you're coming from. there is pessimist him out there. what he has done so far they overcome it with transparency. if they want to start blocking them. i think the dealmaker is if you figure a to figure a way to get around it. if that ten year treasury goes to 4% how to sustain the stock market rally. that is a problem you have if you create massive deficits. and that's when you see if that tenure gets about three you have some problems with this market. maybe i hope they are there. there is a return on it. they may hurt the treasury guys. small businesses can grow. you are talking about early car -- unicorns early on. i see 25,000 on this market. and i have probably never called an up market on the show. that is the one thing that i caught on to. when a guy like this that's probably the only real question i have. thank you john. >> i have fun listening to it as well. on wall street this afternoon. what are we down 30 points. will stand top of that. they think we will eventually go to 25. start your day with the number one choice of dentists. philips sonicare removes significantly more plaque versus oral-b 7000. experience this amazing feel of clean. innovation and you. philips sonicare. save now when you buy philips sonicare. . >> closing bell about to ring here in five minutes, and we have breaking news. lori rothman has grown 7 inches and she's joining me for the last few minutes. >> you busted my secret. standing on the box. >> upset she's not invited to the dinner with charlie gasparino and johnny tabbaco. are we talking about it? >> we are sick of talking about it. you know what the problem is, interest rates, we're seeing that bumpup in mortgage rates, you're going to talk about that, sorry, i wasn't paying 100% attention to your show. the level is the highest in 2 1/2 years. the fed set the tone, surprised everybody by raising rates three hikes. that's got everybody. gas prices are up, up a quarter more. >> tomorrow. >> i don't know. >> how about before the end of the year? i'll go with that. >> i'm lori rothman, hi! >> the secret is out. it's kind of ridiculous, right? >> that was bad have, great day. joining us now, caz investments -- she's going to kill me -- christopher shook and executive editor jeff green, they're here to get touts closing bell on wall street, and making fun of neither one of their heights. however, let's talk about the market a little bit and maybe it's tomorrow, maybe it's not, but you know, start us off, jeff, bigger picture as we head into next year, how optimistic and/or pessimistic are you. what's the outlook from here on? >> choppy, but i'm overall optimistic, the softness we see in the last two weeks, the end of the year, people want to book out winners. a lot of zeros on the dow is just a big psychological threshold of resistance. i don't think you should read any more into it than that. as everybody said the idea of reflation and pro-growth policies and charlie talked about the hopes of the 10-year getting to four. i don't think that's happened. we've only seen a modest rate increase, stocks are lit, they're still lit. >> jeff, people talking about bringing us that point of view, but there are risks, do you buy into pessimism we've come too far too fast? >> put it this way, we're very, very frightened about the fact and the market is going to pull back significantly in the first quarter of this next year. valuations are expensive and we have good potential news in front of us, not much has changed yet. so we expect there may be a buy the rumor, sell the news, and we are short here. >> is there something -- back to you in a second, jeff. is there something that has happened just since the election that we've come so far or thinking this way for a longer period of time? >> i mean, it's truly more reaction to where valuations are particularly in certain pockets. small caps are trading at 1.7 times the s&p from earnings perspective, and you don't include in that the companies that are losing money in the russell 2000 calculation. if you add those back, we're a lot more expensive, two times enterprise value to ibit and with everybody more or less bullish right now, when somebody does start to the exits it's a stampede like january or february of this year. >> pick up on the fact of the valuation, what's your counter, if you have one? >> two points, we saw a correction of q1 in 2015, that didn't stop us from having a decent calendar year. the valuation argument has been made across the last three years or so, i don't want to dismiss that but to the idea where you are going to put your money? we saw a 25-basis-point increase where the fed we're at low levels, it's not attractive to put your money in fixed income assets. >> what's the alternative to stocks in the united states? where else do you go? where are you going? >> cash is a good place to be, it doesn't pay much but doesn't lose anything. those who have cash when the market does correct are taking advantage of attractive values and potentially improving economy moving forward. >> if you were in the cash for this, for the last couple of months, were you? >> it's one of those things like anything else, investors should be at the lowest level of equity exposure they are comfortable with right now. and i'd rather miss out on opportunity costs than lose my money. i'm going to take advantage of it here than when the chaos does occur. >> closing thoughts, which direction are you moving, real quick, jeff? >> markets higher long-term, i'm long stocks, everybody should be long stocks. >> there you go, both sides of it. cash is the place to be, and stocks on the other side of it, the major averages with another down day, 20,000, and the headline today in the markets the first back to back declines in the dow in seven weeks. there is closing bell on wall street for thursday afternoon. it's david asman and lauren simonetti picking it up. "after the bell." lauren: thank you so much. stocks slipping in the final moments of trading, ending lower for the second day in a row. first back to back loss since the friday before the election, seven weeks ago, i'm lauren simonetti in for melissa francis. david: who knows? maybe get in on the dip. i'm david asman, this is "after the bell," thank you so much for watching us. a busy hour, here's what else we have for you in this hour. armed and very dangerous. new details in the hunt for the man believed to be responsible for the christmas market attack in berlin. the question now, why was this criminal, who is clearly intent