Connell there is not any good news. The super bowl is a blowout, the market is down 150 points. Dagen i was not even written for the broncos. Connell hopefully we can cheer you up for an hour or so. Dagen what have you got . This market cannot catch a break. All about dumping risk and fear is back. Nicole petallides with more. Nicole that is right. I will get to that in a moment. The dow, nasdaq and the s p down arrows, all three down a percent or more. 15,547, so that is a loss of 1 . The s p 500 down 17point sitting at 1765, a loss of about 1 . Bank stocks and retail stocks, transportation lower. Utilities, the safe haven of utilities seem to be doing well, they are the one winner along with health care for 2014. You mentioned the vix, we have seen that crossing the 20 levels. We could settle at the highest level since october 8. And pfizer doing well on developments on the Drug Development for breast cancer, that is good news, that is why you are seeing it as a winner. Back to you. Connell asked the dow comes off the largest january drop ever. Chief equities strategist says history may be on investors side for the rest of the year. Bob is here to cheer us up. We have had 31 down januarys of the 31, 14 have had down february to december, 17 of them have been up. We will see the fundamentals make the difference. I think with 20 20 hindsight we borrowed some of the 2014 games and were just giving some of that back. Our predictions coming this year would be we will have an a beer but it will be bumpier. Connell what is the case never strong fundamental equaling higher stocks from here on out . There is some fear in the markets now talking about the vix above 20 for the First Time Since i guess october at the market is down again today. A lot of this from the emerging market led fierce, but the united states, what is the case for strong fundamentals . Let me put a fact on the table so it is not somebodys guess. The Companies Reporting over half now, fourthquarter earnings. Three quarters of them have surprised on the bottom line, twothirds have surprised on the top line. U. S. Economy getting a little bit better and earnings will be okay. That should give us at some point be able to grab hold here, but until this emerging market fear is gone, we will have some of that. Reminder we are down less than 5 from a high, 5 moves are pretty typical. We havent had them on the downside for a while, this is very normal. The last 5 this year. Connell to the point the emerging market, the fear going away, how did you know without causing a major market disruption . There is some history to think things start small in other countries and they lead to something much bigger. Why do y nothinkhat he casehis me aund . Im nosayi forure is n the cas we h notng mh i a fissure in the credit issues in the u. S. That we might expect. We need to watch that carefully the more the stock goes down and treasuries go up, the probability of that increases. But i think the fundamentals in the developed world are improving almost everywhere but the emerging areas are difficult, it is not the economic connection that worries me, it is the financial connection. Connell essentially making a bet this time it is not necessarily there. It will disrupt the market. We have already had the dip, but inw is the time to bsive i would be nibbling away, the dollar cost average always has been. I dont think the selling is over. Thinking tomorrow is the beginning of straight up, it will take a while to repair some of the concerns, the big downside gap, i dont think so. Connell always good to have you, good to see youu dagen republicans ready to do battle over another debt ceiling fight. This time trying to tie in a repeal on a tax related to obamacare. Treasury secretary issuing any warning about the debt ceiling saying a delay increasing it could disrupt economic growth. Treasury secretary predicted even with some extraordinary measures, the treasury will hit the debt ceiling by the end of this month. Jack lew said the administration has less flexibility with it than in previous standoffs because treasury is entering the height of tax filing season, so it needs its cash for tax refunds. While his boss, president said iin the state of the Union Address last week, he still wants a grand bargain with republicans on the budget. Said not this year. I am not sure this is the year for a longterm fiscal challenge to be dealt with, i actually believe we made so much progress in the short and medium term. We have time to deal with the longer term. He demanded a clean increase in the discipline with no conditions, republicans continue to say they will not allow a debt default, but they are still considering provisions to attach to any increase in the debt ceiling including repealing the reassurance tax on obamacare and the medical device tax, some republicans are pushing for more spending cuts this time around or even a balanced Budget Amendment to the constitution. Dagen and connell. Dagen thank you. From washington, d. C. Steve moore, change jobs, chief economist at the heritage foundation. Congratulations on the new gig. Thank you very much. Dagen hope you get more vacation. Im still a fox news contributor. Dagen of course you are. Republicans have a shot at giving more givebacks in this fight . Here we go again. Almost instant replay of what happened the last couple of years. Almost all the house numbers were there. They were not in the mood of capitulating to the president giving them a clean debt ceiling and giving jack lew a clean debt ceiling. Look, every major budget reform we got the last 25 years has been attached to the deathly. Talking about some changes and talking about potentially attaching a balanced Budget Amendment. Dagen do republicans have a legitimate shot at chipping away at obamacare . Again with the shutdown last year, they got nothing. Great question. I think republicans do have a shot at this. American people dont want a blank check given to the government. You can pick some of these items like peter was talking about, the medical device tax or get rid of the 30 hours per week rule. You are considered a fulltime employer and that is one of the reasons were turning into a parttime nation. Republicans and take strategic areas both teams can chip away at obama can get budget reforms and you have to choose things on the public opinion. These are things that are going to bring discipline in the future. Dagen that when the president and democrats conceding things are wrong with obamacare. If you listen to that interview the president did with bill oreilly yesterday afternoon, he really is, he is putting a gloss o and what is going on right now that enrollment is one month behind, young people are enrolling in a good rate, having a job. What you just described is what we call putting lipstick on a pig because most americans do not think obamacare is working very well be a two out of three americans think it is actually a net negative for the economy in the budget, not the negative. These are reasonable demands to give the federal government another 2 trillion of borrowing authority, this is quite possible. For the last 25 years, dagen, it has been very unusual for the president republican or democrat got a clean debt ceiling. Dagen the one thing is despite, i know your earpiece just fell out, so i will let you put it back in, steve. The one thing about the debt ceiling fights if you look at the yield on the 10year has done what our borrowing cost have done because of external factors, we are still back at 2. 6 on the right on the 10year. That is why they can continue to do this, right . Very cooperative. The most amazing thing is if you look back on when we had this big fight back in 2011, some of the Credit Rating agencies downgraded the aaa status of the federal debt, what happened is justInterest Rates fell. I dont think any investor believes they will somehow be a jump in the debt. It will not happen by what happens with this debate, think it is irresponsible for the president to be talking down the debt and even bring in his idea of a debt default on the table. It is not going to happen. Dagen fiery as always. Good to see you, we will see you more. Connell cleveland is not making money. The carrier dropping the city as a hub. Dagen a new problem for apple as an iphone explodes in a teams pocket. Connell the energy boom, involve for 20 years, coming to talk to dagen about it. The Energy Crisis and stocks are down today, down 178, and oil is also lower, down just about 1. So ally bank really has no hidden fees on savings accounts . Thats right, no hidd fees. Its just that im worried about, you know, hidden things. Okwell uhhh. . Surprise um. Well, its true. At ally there are no hidden fees. Not one. Thats nice. No hidden fees, no worries. Not one. Ally bank. Your money needs an ally. If i wanted america to fail,rica id start with energy. And they did. The Keystone Pipeline, the war on coal, endless environmental lawsuits. Our Public Officials were not empowered to negotiate the slow surrender of our freedoms. Let not hiur principles, when they were most in need of a vigorous defense. We are not the masses. Watch the video at freemarketamerica. Org. 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The vix over 20. We will talk to nicole now. Joseph a bank rejecting another offer from mens warehouse. Nicole we know these two are intense rivals both in the mens suits business, i have tried to take each other over, and we are currently now in the line here where joseph a bank says to mens warehouse once again we are rejecting another one of your offers. We saw mens warehouse make an offer, 57. 50 per share saying they could actually sweeten that, we could sweeten it a little bit and they say no thanks, we think your offer highly undervalues our company. It does not serve the best interest of our stockholders, and they are not going to commence negotiations, so that is it. No way, no how. Connell cleveland feeling no te love, getting dumped as a hub. Slashing daily flights in the region eliminating 470 jobs. United ceo says a letter to employees the hub has not been profitable in more than a decade and lost the airline tens of millions of dollars in recent years. Take a look at th shares of the parent company, netted continental, today. Connell a state fire marshal in maine looking at a new case of an exploding iphone. 13yearold girl suffered first and Second Degree burns after her iphone exploded. When she heard a pop as she sat down and the device began to smoke and the pants she was wearing caught on fire. She was treated it has been released from a nearby hospital. Fire officials think it was caused by the battery on the phone shorting out. We are waiting to hear from apple about that particular incident. Dagen all of these Manhole Covers blew off, there was an explosion on 42nd street at my building. That will wake you up. Hello, how do you do. Coming up, working in the oil industry. Iinvestment raising money for 40 years or more, he will talk about the future of our energy business. Connell we will have a lot mo more. Down 191 on the dow. Take a look at currencies and see how things are doing. Down sixtenths of 1 . Keep an eye on our market. [ male announcer ] this m has an Accomplished Research and Analytical Group at his disposal. But even more pressive is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Oh, its not a big deal at all. Come on in. [ male announcer ] its how edward jones makes sense of investing. Makes sense of investing. Peace of mind is important when so we provide it services you bucan rely on. With centurylink as your trusted it partner, youll experience reliable uptime for the network and services you depend on. Multilayered Security Solutions keep your information safe, and secure. And responsive dedicated support meets your needs, and eases your mi. Centurylink. Your link to whats next. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive foforward with broader possibilities. Cme group how the world advances. 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The World Health OrganizationCancer Agency reporting there will be 22 million new cases every year within the next two decades. The agency says the number continues to rise because of global aging and the spread of cancer to developing countries. Those are your News Headlines on the fox Business Network. I am lorne greene. Connell thank you very much. Dagen time to try to make money with charles payne. Connell we were down 200. What is going on here . Charles not necessarily worried, but you do have to look and see, lot of key support points are not holding right now. Friday we made a nice move off the bottom which i thought was odd going into a weekend but buyers began to emerge. The last hour of trading will be critical here. But you have the market now reacting really harshly too bad news, the auto sales obviously everybody says the weather, but they came in significantly below expectations putting pressure into the open. Manufacturing data came in below expectations putting more pressure on. I have to tell you, from their point of view with jaclyns comments this morning putting even more pressure on the mark market, adding pressure to the g. O. P. With the debt ceiling debate with the market falling apart. We have these three things, janet yellen coming in. Because of the weather, she does maybe get to buy an extra month to continue this game plan. Connell does not mean it will turn to anything important. Anything big going on . Charles i will count this as we have been long overdue for something. A correction, but when it does start to happen, it is always easy to say it is healthy, we are consolidating, already in the midst of it. Dagen it is all the central banks, all the Federal Reserve. Charles the dow went up. I honestly think the street is afraid right now of the fed is changing their mind because that would be a total indictment on our economy. That means our economy has not turned the corner and that is worse news overall for all americans then them staying the course. That is why Janet Yellens lucky if she can buy herself the right month. Dagen when the tenure gets to 3 . People are afraid there is risk and the economy is not so great that people are willing to own treasuries then own stocks. That might have been the case over and over again. Connell charles will go back to pick individual stocks tomorrow, but good talk. Charles i had to seattle. Johnnycomelately, but i had seattle. Dagen and thought john elway was the quarterback for the broncos. Who is this elway i keep hearing about, is it the quarterback of the broncos . Connell thank you, charles. Charles see you later. Dagen anyway. Who do we have coming up . Connell i dont know, tell us. Coming up with dagen. 200 billion worth of Energy Related deals during a fouryear plus career. He will talk about that industry and where it is headed next. 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