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tv   Varney Company  FOX Business  December 15, 2014 11:00am-1:01pm EST

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of political correctness they are. maria: danielle, thank you so much. that will do it for opening bell. stuart varney is at the wheel now. stuart: good morning. yes, it is over. the hostage situation in sydney and with a roche of gunfire. question now, can loan wolf terror like this be here? we are all vulnerable. a lot more on that as we go ahead. the sony e-mail debacle. that keeps on going. no e-mail is safe. it is a very day day on all
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fronts. varney and company is about to begin. ♪ police storming the café seized by a radical islamists for nearly 16 hours. listen to this. stuart: the condition of the hostages and the armed man still not clear at this hour. there are some reports that some hostages were injured. it appears, however, that the
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whole thing is over. he claimed to have planted bombs in the café. made hostages hold a flag made icier in ruffles in the window. officials are calling this an act of islamic terrorism. the significance of this story is all about loan wolf terrorist doing something like what happened in sydney here. >> it is inevitable it is coming here. we are worried about people's privacy. and lots of these things that this guy did -- he has been known to the police over there.
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this guy has been a problem and a troublemaker from the beginning. here we go again. we worry about people's rights. when they want to react like this, where are the rights of the people that are held hostage? stuart: how on earth do you do that? every shopping mall, coffee shop. you cannot protect against this. >> you can jack up the intelligence. all of a sudden our information and intelligence organization have been handcuffed. the many times they have averted tragedies in new york here, i think we have had 20 alleges
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attacks that were planned on new york. it is not if it is going to happen, it is when. intelligence is so important. everyone is worried about it. everybody is worried about everybody else. i am wearing about the american citizens. we need intelligence. stuart: do you see this administration, do you see them saying it is okay to target the islamic population to check up and see what is going on? >> we have to investigate it we have to get intelligence on anyone who is trying to destroy this country or hurt american.
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i have been saying this for the longest time. everyone is worried about our privacy. if you feel as though i have some sort of terrorism action, then check my records. do what you have to do. you have to protect america. anybody with a non, anything, whatever you have to do let's find out before the next attack. let's wake up america. we are sleeping. i want to scare people. it is coming here. everyone is focused on this stupidity of killing cops now. they are parading around. for young boys under the age of the team had their heads taken off. no one seems to talk about that
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anymore. stuart: both veto, thank you for joining us. charles, i feel america and all democracies are phone or opal. if you have a muslim population within your borders, i think we are vulnerable and that worries me. >> an american based shopping mall. >> so many people are taking their safety for granted. protesting against the very democracy that allows them to protest in the first place. giving up 100 points in a flash. it is reflective of the fact that we are phone or a bull, whether we admit it or not. stuart: that is the shake.
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charles: i think that that is him. did you hear what elizabeth macdonald had to say about this guy? no way in the world he should have been out of prison. stuart: look at the stock market. we are down 14. i have to believe that the vulnerability is presenting itself on the stock market. charles: note doubt about it. stuart: i have to bring you up to date on the other markets as well. the price of oil came out at $58 a barrel this morning.
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the duck line in the price of oil back to those lows. that is hurting the market to some degree. the average price for a gallon of regular is now $2.54. we have to get back to that hostage situation. another story. this is a big one. look at sony. he is telling the media to stop publishing confidential e-mails. more on that with the judge in a moment. charles is with me. we have e-mails from dicaprio, clooney, all kinds of celebrities. medical charts from low-level employees. all of them have gone public. all of them published. it seems like no e-mail is
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private. >> it seems like that. the bottom line is whether it is your customers, people you do business with, employees, this has to go from beyond being embarrassing. how many yellow, red flags do they need. the executives have been leaked out. a victim rather than some detached large organization. particularly, lax and grounds. we are the good white people in hollywood. maybe not. i do not know. >> i should not have a smile on my face. corporate america, spend the money. spend the money right now.
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stuart: well said, charles. police storm the café held by that radical islamists. come on in, drag. he is in london. >> we have been talking to the police in australia. it was an ugly and to a very bizarre and lethal siege. what we are learning from the police is that the siege is over. it ended in a very tricky way. let's backtrack very briefly. you have an iranian refugee with a criminal record and a twisted islamic mindset. sydney taking probably about 20 hostages with a pump action shotgun. holding them for 16 hours.
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making them stand in front of a window. five managed to escape about halfway through the siege. then the negotiations began between the police and this individual. negotiations that the police had hoped would make this thing go away. according to reporting, it is believed that the hostage taker, 49 years old, fired the first shot at either police or the hostages. allowing them to flee unharmed. then they went in big time. a 32nd or so round of heavy ammunition. then, we saw maybe as many as five stretchers coming out of
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that café indicating that there were injured hostages. maybe as many as five. we have not seen what is left of the hostage taker come out. we have too believed that he was at the bad end of a block of guns. they sent in one more thing. a robot to check for bombs. it appears that that has gone away. we are waiting for the official story. again, isis was mentioned. a flag was requested. that may have played a role in it.
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it is galvanized australia. islamic terror shut down. it is over. back in a moment. ♪
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stuart: i want to recap a big story out of sydney australia. a 16 hour standoff at a café. we are awaiting the official story from the police. it looks like a moment terror attack. it makes a lot of countries, america in particular, vulnerable. now we are vulnerable to it happening again.
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i think that we need better intelligence. what say you? >> it appears to potentially be a problem in an open and free society like the united states or any western democracy. they are extremely hard. it is a very difficult thing. stuart: it is obviously difficult. do you think that this administration is willing to do it?
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>> i am sure. that has been going on for quite a while. i do not think anybody in the government in the intelligence or police community are doing anything other than being very vigilant. we have had a couple in boston. stuart: i would like to see the question put to warren and clinton. what would be your attitude towards lone wolf terror? >> the left and moderate left
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has not been asked those questions. >> that will be asked of every presidential candidate in 2016. every candidate will have to take a position on this and tell the american people what they have to do. stuart: do you think that the left is out on a limb on this issue? >> republicans, conservatives have always been attacked. the left is never questioned about this. i think that they should be. i just think there needs to be a balance in the politics of lone wolf terror.
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>> i may be on the left and you may not agree with me, i do not want to live in a saw society because we are going after everybody because they are a particular member of a religion, i understand who, this guy was in iranian refugee. i am not clear on what more we can be doing than we already are doing. stuart: i would like a statement that our administration understands the threat of this lone wolf terror. it is a huge threat. can you imagine this happening at a shopping mall in america just before christmas? >> americans walking down the street in sydney were in paris is susceptible to a lone wolf
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coming out of the bushes and doing something. that is a reality. i think police forces in new york, in washington and other places are very on top of trying to stop it before it happens. we boarded more of these threats then have actually gotten through. there will be more. that is just a fact. stuart: think you very much. thank you for joining us on this dairy imported day. we are further down in terms of the stock or get. the analysts are saying that to some degree, this is the result of a lone wolf terror attack in sydney australia. back in a moment. ♪
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stuart: i will bring you up to date on the siege in sydney. it is over. it lasted over 16 hours. these refugees from iran arrived
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in australia in 1996. that is the guy. he has a criminal record he was sending letters to parents of fallen australian soldiers saying they brought their son or daughter's death onto themselves. he took maybe 20 people hostage at the center of sydney. he held them for 16 hours, he made them put that flag up in the window and is associated with islamic terror directly. they call this an act of islamic terror. about 10 minutes past 10:00 eastern time this morning it was a barrage of gunfire, the police stormed into the building. several hostages ran out. we counted 16 who ran out apparently unarmed. a barrage of gunfire and that was it, it ended.
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at that point the stock market started to decline. we opened the day with a gain of 100 points, now we are down 91. part of the market decline is what happened in australia and the significance of what happened is this. all western democracies which have a muslim population in their borders taking any role in fighting in the middle east are vulnerable to this kind of terror. charles payne is with me. i think we have gone over this before but i will say it again, if you have something like that happen in america 10 days before christmas, that is an extraordinary event and we are vulnerable. charles: and we have to bring to point last week with one of the biggest news items was the cia interrogation report brought out a lot of people felt like it smeared the cia and the efforts to fight terrorism and the bush administration and was uncalled for but both sides including the
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white house agreed it could heighten the possibility of retribution. nobody is tying this particular thing australia event with that, but imagine someone sitting here in this country's doing already before that report comes out and then they get a chance to look at the redacted version of 600 pages democrat only version of this which slams our efforts to keep terrorism out and americans safe. stuart: and you have the demonstrations across the country against alleged police brutality against young black men. charles: people protesting police brutality i think is a great thing. when they start to chant "kill the police" in unison, that is scary stuff. everybody has to take into account our freedoms. even those people out there protesting, they don't get why we are so safe because the
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military and local police. stuart: you are seeing now one of the hostages who ran out. we just got reports from local media in australia confirming two of the hostages were killed when they stormed the cafe with guns drawn and guns blazing. we have confirmed by local people in australia two of the hostages have been killed. the big board now, in part this is the part of the situation in australia. also in part another drop in the price of oil. show me that percentage if you will, please, because we're down to $56 per barrel. now, the market doesn't particularly like this collapse in the price of oil, right, charles? charles: we cannot get a feel about it. the best news in the world only impacted a few people negatively, the question is is
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this a sign of deflation, a sign of something really bad around the corner because historically it has been, will this be something unique? our oil consumption has changed dramatically over the last few times a deflationary signal and so i hope it will be different this time. every time oil turns down, the market turns down. stuart: the serious situation having for bid it comes here, a sharp drop in the price of oil, i am going to it a collapse. the dow is down 107 points. tense situation in sydney, the latest in a moment. see this? it shows the pressure points on my tired, achy feet. i had no clue i was putting this kind of stress on my feet. i have flat feet. i found this out at the free dr.scholl's foot mapping center at walmart.
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[gunshots firing] stuart: local media in australia now confirming through police to people are dead following that barrage of gunfire that ended 16 hours standoff at a cafe in sydney. general jack keane joins me now on the phone. general, i want to give you my reaction, i want to see this administration have a new attitude toward terrorism.
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it is not over, we are vulnerable and i want to see more proactive attitude from our administration to go look at them within our own borders. are you with me? >> the best way to deal with people motivated and inspired by isis is to destroy and defeat isis with a sense of urgency. that makes this near-term problem with isis galway and undermining ideology of private islam and a comprehensive and forceful way. but we don't have a sense of urgency at all. stuart: do you think we will get in urgency? this has opened up america and its vulnerability. do you have any confidence this administration will change tack? >> no, don't think they will at all. i hate to get into the
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motivation, but i suspect their intent is to pass this problem to the next administration, that is why they keep talking about you have to have patience and why this is a moral war. 20, 30,000 terrorists is what isis has been is largely terrorists numbers is still not a very significant force to deal with, and we have the wherewithal to do it but we have not th resolve to do it with a sense of urgency. as for the threat at home, what has not happened is we don't have to be unduly alarmed. isis does not as of right now have the capacity to establish terrorist cells inside the united states in state houses where they would have the infrastructure of support. that is unlikely to happen according to the best
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intelligence seeker. what they do have is what happened in australia, i don't think we know for sure yet. inspiring citizens through their cause with able take violent action like we saw take place in canada so horrifically. stuart: thank you for joining us on short notice, we appreciate your input on the military. you know what you are talking about, we appreciate that. judge andrew napolitano is here, scrambling at short notice because of the developments with a very quickly here. the siege is over, couple of the hostages we understand are dead. for this have been prevented, could something similar have been prevented in australia by much more aggressive, proactive, intelligence gathering operation within the united states of america?
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>> i can't answer that. i can tell you whether or not such an intelligence gathering operation would be lawful in the constitution. stuart: you and i have sparred on this many times. >> yes we have. stuart: is it my opinion we should take an extremely vigorous approach to those people who may harm us from within? >> inside the constitution or outside? stuart: i believe we should pursue them, cap their phones, everything we need to do to stop people from getting killed. >> first australians have a far more aggressive surveillance system then we do in the united states. it obviously didn't work today. when a person is a lone wolf like this creep was today and the case the general talk about in canada was apparently a lone wolf, often time there is nobody with whom they communicate so
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the type of surveillance you're looking for generally doesn't gather that information. stuart: we don't know that. >> nobody has been found in the case of canada. stuart: anybody who dials up an islamist website i want to know who they are and when i find out who they are, i want to find out who their friends are in my phone note with her friends are, wants to see what they're talking about. >> ne and you better go back to great britain. stuart: i am willing to shut down america with this kind of stuff, and i want to stop that. >> you're willing to sacrifice the liberties for which the country exists in order to achieve the safety that you desire. the constitution has borders upon the nature and extent of that sacrifice, you're asking that those borders be pushed. even the statutes that prevent
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government surveillance of food from that permission first amendment activity so in other words if you were the king, no pun intended. if you were the the can have the opportunity to create a surveillance o structure however you wanted that had to be consistent with american understanding the first amendment, you cannot scrutinize people just because they did research, just because they tapped into a website. thnew line scrutinize them if ty did something conspiratorial or unlawful, but first amendment is protected from scrutiny. stuart: do you think within the confines of the constitution you could construct a statute which allowed me to find out what i think i need to know about these bad guys with mark >> no, i don't. the use of deadly force today was absolutely appropriate even
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though he hadn't pulled the trigger, he was threatening to pull the trigger on innocent human people, the police have every right to use deadly human force. i hope it wasn't the police that accidentally killed any of the hostages because then you have also the legal issues but if their intent was not to do so, they are immune from the consequences. stuart: i think we have this degree of agreement. charles: we still work together. did you like my line, if you working? stuart: no. i am not wriggle in any way, shape or form. good stuff. so the big board, please come down 140 points, that is the low of the session, declined in the price of oil and what happened in the sydney both negative factors with your money. d titan. for respawn, building the best interactive entertainment begins with the cloud.
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>> i'm nicole petallides with your fox business brief. after the hostage standoff ends in austria, jitters loom at home. the dow down 130 points, earlier today it had been up over 120 points. also pushing stocks off the highs of the day and breaking down below the 50 day moving averages. financials have been under pressure in particular the worst performing sector. now ford has been a big loser cutting from a hold to a buy
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down 4% right about affordability reaching the inflection point. radioshack, that went to the downside again warning of an increased bankruptcy risk down 13% ft moment, over 40% this month, certainly under pressure. more "varney & company" coming up.
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stuart: you're looking at a selloff. one her points up, no everyone
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heard 35 down. the situation in australia, which has been resolved that has enormous possibilities of difficulties for us in america is a huge negative on the stock market and so is this, the price of oil. the open round $15 per barrel, now 56. challenging the lows we have seen recently the stock market does not like that. now back to sydney, local media in australia confirm two people are dead following a barrage of gunfire that ended a 16 hours hostage standoff. at a chocolate cafe in the middle of sydney, australia. local report cited by fox news the gunman and at least one hostage are dead. four or five hostages injured. but his latest from the scene. former u.n. ambassador from the united states, john bolton.
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what is your take from the get go of what happened in australia and relevance to us here? >> while there is busy a lot to learn, what we have is another islamic radical apparently iranian in this case motivated to attack one of america's closest allies historically and in the war on terrorism. we know what is immediately going to be said, a lone wol wos if that excuses the horror of what has been seen. we don't know what caused this fellow to act but he did kill and wound others and it is an act of terror. stuart: i have been describing this as a lone wolf attack because it is a lone gunman and an islamic gunmen who did this in the middle of sydney and i used that expression because that makes it clear that we in america are vulnerable to precisely the same kind of
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thing. there is a population of islamic radicals within the united states borders. we are vulnerable at the shopping mall and cafe, downtown any city, it only takes one guy or one woman to walk in with a gun, should it up and you have a lone wolf attack, we are exceptionally vulnerable to this. what i am warning is surely we need a new approach from this administration toward terror. terror isn't beaten, we have to do something about it here at home now before it comes to us. >> you are right. the way lone wolf is used by others is to downplay. it reflects a broader threat as long as people can communicate over the internet, you cannot live a normal life at the local coffee shop risk of being held hostage by a religious fanatic.
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the fighting took place in australia is an unfortunate bookend that this took place on parliament hill in canada. it is a reflection of a growing threat worldwide, we are not paying enough attention to in this country beginning with the president. stuart: you think there'll be any change in our stance to terrorism? >> no, don't think the president since this is a serious enough threat. we have been asked this for three or four months since isis gain control over a country the size of great britain. our response remains very, very limited without any strategic guidance. the president is now spending more time worrying about getting a resolution with palestinian states than about the terrorist threat. this plays a major role much more than people first thought,
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i think the american people are ready for leaders willing to say we want a president who defends our country. stuart: we're waking up this one with realization there is a fifth column in all the major english-speaking democracies carrying the terrorist fight the homeland. i think we're waking up to that realization this morning. >> i think it is right in front of us. he is apparently admitted as a refugee and this is how he repays the people who gave him safe haven. stuart: i think there may be a change of heart within the united states because of this, maybe. thank you for joining us, we appreciate it. we are down 135 points lower. a very big negative for the stock market. the price of oil also is a problem for wall street today.
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day. now, the price of oil is down today, $56.29, down another 2.5%. we are close to the five and a half year lows we hit at the end of last week, the middle of last week. 155 points down. beginning a little bit of a slide here. local media in australia confirming t two people are dead following a barrage of gunfire in the standoff at the cafe in sydney. there are reports the gunman is dead along with at least one other hostage. four or five hostages came out of that cafe injured. judy miller is here. my angle on this is the vulnerability of america to something similar to what happened in sydney. i think we are extremely vulnerable, and you say what?
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>> i say you're absolutely right, stuart. that this is the greatest challenge to american law enforcement and counterterrorism. we have known about the home grown radicalization phenomenon since 2007 when the n.y.p.d. blazed the trail by pointing out that people who are most dangerous are often those who live among us and go in under the radar. and then once al qaeda was destroyed, the core al qaeda was destroyed and al qaeda like groups developed over the world, began to worry about local people in these local groups, which we even have here in america. n.y.p.d. issued another report which called attention to the danger of lone wolf terrorism. why is that so dangerous? it is true they are not like we do have a wmd were capable of a sophisticated attack, but the
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damage we have seen in sydney could be replicated here or in any mall in america. stuart: there is a financial price, that guy closed down sydney, the biggest city in america. -- in australia. >> we know you had a history of writing letters to families and dead soldiers in australia. yet attacks on his own website. we know he had a history of encounters with law enforcement attacks of sexual violence and he was out on bail, so it is extraordinary this goes able to "slip under the radar." perhaps police were watching him which highlights the challenge of spotting these guys before they act. stuart: good information, thank you. next hour we have all of the angles covered.
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it does have market location, now down 165 points questioning our vulnerability in america, that is why it is down so much. back in a moment. could protect you from cancer? what if one push up could prevent heart disease? one. wishful thinking, right? but there is one step you can take to help prevent another serious disease- pneumococcal pneumonia. one dose of the prevnar 13 ® vaccine can help protect you ... from pneumococcal pneumonia, an illness that can cause coughing, chest pain, difficulty breathing, and may even put you in the hospital. prevnar 13 is used in adults 50 and older to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. you should not receive prevnar 13 if you've had a
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>> [gunshots firing] stuart: that was quite a barrage of gunfire that erupted about 90 minutes ago as police stormed into that cafe. local media citing police sources say to people are dead, one a part of it hostage taker, the other hostage. that lasted about 16 hours, it shuts down the center of sydney and really has rippled through australian society and indeed western democracy because if you have a lone wolf attack like
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that that can do some damage in sydney, australia, you have something very similar here in america. look at the big board. because of our vulnerability, the stock market has sold off. we now have a loss of 143 points. another factor in the stock market decline, that is the price of oil. we're edging very close to $55 per barrel. the market does not like this collapse in the price of oil because it brings negatives with it. 56 on oil right now. joining us, let me explain to market audience, you are a muslim and served 11 years in america's navy, he lived in america for many years and you are from syria and have joined us many times on this program, you are the founder. welcome to the program. i want to say right from the get-go that this i think is the
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worst possible news item for muslims living in america. you say? >> no doubt. thank you for having me back and our hearts are with our allies in america and i am glad this has been resolved. the bigger picture is these are not lone wolves. australia has been on the front line, groups more threatening than what we have in america. just a few months ago talking about how a public attacks by muslim against another muslim attack because of drinking alcohol and calling for sharia law, he was interviewed on television, they have a lot of these movements. i have been attacked personally by some advocates on my twitter feed, please guys are very mobilized, mostly in government moved to confiscate over 80% of the passports of those headed
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toward isis. that flight was not isis flag comment was an islamic flag that bear witness our god and mohammed is the profit. that is what he's asking for the primprime minister to bring a is flag. part of a close tw to make globl movement of dominance of islamic state over the west in countries like australia. stuart: what americans want to see his muslims like yourself getting out there saying we don't want any part of this, you're patriotic americans, we love this country for the freedoms granted to us. over going to see more american muslims come out and say we don't want any part of this? >> i hope so, i pray so, but have to do more for americans to believe us. not just in the violence, we have to have pro-western national identity for america and australia in european
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countries against these patriots who believe in the islamic states, that is for the jihadist work and yet australian muslims and majority condemning these groups but didn't have an ideological reform movement against sharia state and that movement for australia and as a result we see radicalization and no strategy coming from within the grassroots of the australian community and as well in america. stuart: you are a brave man, you are patriotic american. what proportion of american muslims share your views? >> i believe our constituency is likely 70, 80% of american muslims believe in american exceptionalism. the problem is there like the silent germans, have not wanted to move against the ideas of islamic state and patriotism so as a result we need to put a fire under the feet and say not
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only do you have to condemn the violence, you have to form counter movements to condemn an end the concept of islamic sta state, isis and all islamic states that feed the separation of identity to do anything to exit the world in like what we saw yesterday in australia. stuart: thank you very much for joining us on a very important day. the former congressman's here, he was the chair of intelligence committee in the house of representatives. very good to have you with us. >> good to be here. stuart: if that can happen in sydney, australia, shut the place down with one person taking hostages in a cafe for some reasons precisely the same thing could happen here on a larger scale right before christmas. i am saying our vulnerability has been exposed. and you say?
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>> you are absolutely right. this guy has been on the radar screen since 2007, he was refused access to see his own children, he wrote a letter to the prime minister a year ago. he committed and pledged allegiance to isis a month ago. he is on the radar screen and somebody of austrian authorities knew a lot about and he was still able to do something like this. think of a person who hasn't been identified and the damage they could do other australian or here in united states. stuart: you must have come across a lot of information. presumably this same kind of thing, the same characters must be in america right now and the authorities must know about them. can i say that?
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>> that is absolutely right. we have seen the kind of attacks like fort hood, but there are others, americans who have gone to syria, who have gone to iraq and fought with isis. we have to watch those individuals as they come back. stuart: you say we have to watch those individuals. does our constitution permit us to single out people under suspicion, go after them, check their mail, check their e-mail, check their associations, all phone calls, can we do that? >> you have to see how much evidence they have. if they are providing material support to organizations, you would think the day they set foot back on united states soil they would be arrested but with a lot of these individuals we don't have that much information on them. we know they are over there, suspect them of things and they
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become an individual case we present the evidence, background material to a court, to a judge to see if we can actually get an opportunity to survey them and get additional information. each one of those will be an individual case and sometimes it is very difficult to have enough information to actually prove that these people are a threat, it is hard. stuart: in your experience, is this situation down playing the threats of the lone wolf operative in the united states? >> this the administration has downplayed the threat on a global basis here in the united states and international. take a look at where we are, talking about 2068 before we can have any meaningful action against isis and iraq. it provides an access to a soft underbelly of europe.
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now the threat under this administration from radical jihadism is growing and we are as vulnerable as any time since 9/11, 2001. stuart: we do appreciate you being with us. we have now the latest on the ending of that scene, what do you have? >> i just got off the phone with australian police and confirm to us the siege is over but also confirmed to us they're still trying to sort out the number of hostages killed, injured, how it went down, but the way we figure it went down watching about four different feeds coming into us from different media outfits is this. we were talking about what is going on. you have the gunman, the refugee with a, record holding something like 20 people in that cafe and
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the bustling downtown australian city of sydney and some hostages had fled, about five, australian police trying to negotiate and from our indications are the gunman shot at a hostage or he shot at a policeman and the police officers, the s.w.a.t. team, tactical forces decided to move in big time. it allowed five hostages to flee and they came in with a fuselage what they said was live fire for about 30-45 seconds and that apparently finish off the gunman unfortunately also a hostage is killed. we don't know if it was the police or the gunman. maybe as many as five hostages were injured as well. all of this a reason why the authorities were trying to resolve this in a peaceful way.
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a note about sheik man haron monis, a reason he may have done this, the first, he is a twisted individual. he sent condolence letters to the families in australia of servicemembers who had been killed in afghanistan said i'm sorry, but your husband is okay. the charges were not knocks down and then he did that. one final note, isis calling for lone wolf attacks against australia because of the involvement as well as united states and other allies and apparently he took that qs well because they were references throughout the day to isis. it took quite a twisted individual to do the dirty work. the first time in apparent terror attack or terror related attack deadly on australian soil be at back to you.
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stuart: show me the big board because we have a selloff down 103 points. the open up the market this monday morning with a gain of 100 points, now we're down 100 points and sydney, what happened there and his relevance to us is part of the problem for the stock market, the other problem is the price of oil, at a $58 per barrel earlier, now 56. the downtrend starts again. come on in, the price of oil thinking. do you think this is a new spiral down? how far down are we going to go here, larry? >> more selling to go. you would think a certain point they would step in and support this but it doesn't seem that is going to happen. there is an awful lot of short players, it is not just some players or oil companies a lot
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of traders putting a lot of pressure on the market. a whole bunch of people selling at the bottom trying to push the market lower so all that together left us where we are now. would not surprise us to hit the $50 level be at i think you have to be seen if we can get below there were even more sellers when we get to that area. stuart: we could hit $50 per barrel level, larry levin said it. some big board again still don't triple digits, two negatives this market. event in sydney and what could happen in the united states, and that drop in the price of oil. we continue to follow these developments obviously. we're going to take a commercial break. back in a moment, everyone.
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stuart: if you're just joining us, let me tell you this, the siege in sydney, australia is over. a barrage of gunfire and did it. the stock market selloff over 100 points on the dow and the price of oil coming down. oil and sydney are negative for stocks, we've covered that, down
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for her three as we speak on the dow. charles payne, liz macdonald with me now. my english this, if that can happen in australia with such dire financial consequences, it was a big deal, there's no reason the same thing could not happen here. we are vulnerable and that impart is why the stock market is down. liz: it has been a concern since may 23 world trade center bombing bu that there be an attacker who just we go off on his own. law enforcement is saying this does not appear to be part of a broader plot, he acted alone, but it is part of a broader movement of islamization. stuart: the fact it is a lone wolf guy with no connection to a conspiracy is more worrying. anybody can walk into a shopping mall and disrupt christmas. >> they say we will not see
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another plot with another lone wolf writes now will attack another city center, that is the point i am making. but a lone wolf is a very scary scenario for law enforcement. >> i will say red flags for all of these guys. why don't we pay attention. charles: when you rattle off his rap sheet earlier today, i was shocked, how can this guy is not in prison somewhere, how he can make bail. somehow we have to connect the dots and be somewhat preemptive. this guy had a red flag, some we should have been on him. >> should be tolerant to individuals like this, as history of murder of his ex-wife, he has more than three or four dozen assault charges and harassment charges for setting resting letters to families of austrian soldiers
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who fought in afghanistan, that is what he was upset about he tried to get the charges overturned and was unsuccessful and snaps and took hostages. stuart: how far can you go to get a hold of these guys before they do something terrible? >> you can go pretty far. stuart: i think we should go further. my own personal opinion. steve joining us from d.c. this is a story, a moral story, a police story, it is also i think a financial story, the same thing happen in united states of america we a huge financial fifth. >> if the news came out a school building or a mall or a movie theater was bombed by terrorists, you're right, that would cause incredible assumptions in the market, but can i go back for a minute to
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this story about oil and gas because all your friends on wall street have this story completely wrong, this is the biggest economic stimulus we have seen in this country and five or six years, it is an incredible positive for the economy, toys as big as the economic stimulus that president obama had $800 billion spending bill. this puts money in the pocket of american consumers and think about the industries this benefits, retail industry, restaurant industry, transportation industry, the airline industry, manufacturers, they all benefit immensely from these lower oil and gas prices meeting they are more profitable. i am incredibly bullish on the market and ashamed of these people on wall street who say it is bad for stocks. stuart: so why is it taken as bad for stocks which mark that is cited as one of the factors in the drop, so what is going
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on? >> obviously it is a negative for the oil and gas industry. we talk about this so many times on your show with charles oil and gas propelling the boom over the last six or seven years, we will see a shift away from oil and gas to these other sectors. think about the manufacturing sector in the midwest in the united states, they have energy 40, 50% lower than they were six months ago. that is a huge boom for the profit margins. stuart: charles payne has point to make about a global slowdown. charles: i think what you are saying is not necessarily correct. it is good to ask the question based on the past when oil has plummeted associated with times gdp goes into it as spiral. i do agree consumption levels
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have changed dramatically and maybe this time it is different, but as the market continues to fall, people are legitimately worried. >> i think you're brilliant and you know more about the market than i do, but can challenge him from it on this? think about the economy in the early 1980s when the gas price fell from $35 per barrel down to $15 per barrel. we saw the biggest stock market boom in history. the same with the mid-1990s. following oifalling oil and gase been connected to a strong economy. stuart: all good stuff. the latest out of sydney after this.
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speak to him that terror attack in sydney. two people dead. the gunmen and a hostage. five of the hostages badly injured. look at the big board. we have, back.
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we were down 150 points. now we are down 71. now down 71 points on the dow. christian, does the obama team, do they understand our vulnerability and the united states? this kind of lone wolf terror attack? >> i am not sure that they do. the government has built out millions and millions of police forces around the u.s. a war against core al qaeda.
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we see in sydney as we did recently in iowa. much more than just a couple of terrorist groups. that is what your guest said earlier today. as pii when you see this kind of thing happening in australia, and brings home the vulnerability i think that the attitude that the mood just shifted because of what happened in australia. am i going too far with this? >> it is something that isis has encouraged. not exactly lone wolves. they are part of this broad
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movement. as we get farther and farther into this conflict, maybe trying to finally grasp that we are against war with jihad is him. stuart: to you think that the president will ever say that? >> no, he won't. a war on islam is him sounds too much like a war on islam. this man, the same one that the ironic and government leave then. we just need to realize this. stuart: thank you very much for joining us on very short notice. we do understand that the police force in australia will be holding a news conference shortly on what happened.
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i should tell you that it was a financial, a real hit to the city of sydney, australia. much of downtown sydney was closed for business. it was shut down for a considerable period of time. the australian dollar sank to a five year low. you will know that it was a dollar five a year ago. now it is 83 u.s. cents. that is it. more on sydney and what it means for the market here. ♪
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stuart: the police force in sydney, australia, will hold a news conference today at 1:00 p.m. eastern time. look at the big war. we are down 88 points. we started out with a triple digit gain. then we came back with a loss. look at the price of oil which is another negative for the market.
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$56 per barrel. >> four and a half% drop because of the price of oil. keith fitzgerald is with us. keith, what i want you to do is tell me this. absent sydney. absent terror, absent the price of oil, our stocks cheap and ready to buy? >> particularly, those that are down on their luck right now. i like to stocks, actually. the first one is apache corporation. they just completed
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$2.75 billion selloff. stuart: hold on one second. apache is down to the present. that is one big selloff all right. it might be time to put money in on a long-term basis. >> absolutely. every time there is a massive selloff, the strongest players survive. they have a lot of upside potential. the second one is burke scheier hathaway. i think it gives you a lot of play across the american economy. this is the kind of company that is trying to move forward. stuart: we really are grateful to you to bring us back to the
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reality of by a half making some money. keith fitzgerald, everyone. i very much, keith. marjorie clifton joining us from austin, texas. we have been on the show now for 90 minutes. i want to see this administration take a much stronger approach to the possibility of lone wolf attacks and divided states. i do not want to see any more work place violence. are we going to hit a top-of-the-line towards terror in the united states? >> i would say we have already beefed up many of our oversight issues. there are a couple of things happening.
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there is a long history of criminal act to the deep. they will probably fall more into the mentally ill categories. there is a shooting in downtown. the correlation between the behavior and mental illness. right now, 10 times the mentally ill. stuart: will we see the attorney general of united states or the attorney general of the united states, that is what it is, islamic terrorism and we will not have it. >> i think there is absolutely a serious serious approach being taken to terrorism in general. we have to be careful how we identify it. how we regulate that is hard.
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you have to have certain information that would allow us to take action on this individual. stuart: do you think that we should be monitoring possible radicals in the united states? if we do not take an approach, we risk something similar at a shopping mall in the united states. you do not want to see that. >> should we allow our law enforcement, our national security all of these to watch those people that are at risk by sure mark is her local discussion. i think watching those people
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that could be potential threats is important. i ain't that we should. >> this goes further than mental instability. senator ted cruz is already saying, you cannot win a war on islamic terrorism. i think that is what stuart is trying to get at. try to -- >> i do not debate that. you also have to be careful because there are a lot of muslim communities. we need to be careful. stuart: i get that.
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i want to be sharp edged on this one. monica, thank you. we do appreciate it. that terror attacks in sydney showing possible weakness here at home. more on that next. ♪
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nicole: i have your fox business brief. the dow jones industrial average is down about 48 points right now.
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oil has pulled off below $57. the s&p 500 down five. ibm, mcdonald's, also verizon. all those things have down arrows. $8.7 billion. the stock is up 4.6%. social media. raising that one too and outperform her. ♪ music
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the two that terror attack in sydney, 1:00 p.m. eastern time here, that would eat about 15 minutes. australian police force hold a news conference. look at the price of oil, please. around $56 per barrel. charlie gasparino is here. you are reporting this morning. >> bloomberg was shut down. so was just about every other business, large business in that
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area. if you went to work, you were locked inside and then discharged. we do not want to reduce every story that has human casualties. they go after the world trade center. they crippled the economy. they shut down the stock work at it one crazy terrorist stockman shut down an entire city. you and i were always saying we do not want to give anyone a roadmap, but they know this already. the density of the population.
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that is why before we go out, i am not saying i am for torture, i am saying before we eat up on our intelligence community, think about what we are giving up here. these are people that want to hurt us. that is the very epic. >> the people we beat up on. >> what happened in sydney has extreme relevance. richard grenell is with us.
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richard, thank you for joining us. when will president obama issued these two words, islamic terrorism? when will he say it? >> really dismissing the growing threat. now all throughout iraq. isis has been growing for the last 20 years. we have ignored this. we are now distract it. the united states started this self destruction. i think you are exactly right. this sydney situation is a very serious warning for u.s.
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lawmakers. you look at all of the press around the world. it is a huge warning. what should we be doing your in the united of america. >> the intelligence that we are going after it is crucial. >> they cannot walk in fact. they have to make very clear that this is a benefit.
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we cannot be in the position of having to apologize for gathering intelligence. the senate democrats are the ones that have to stand up and say we can be critical, let's not miss the larger point of what is needed. stuart: i suspect that there is a political shift here, too. republicans have a real voice. i think there is a political shift going on because of what just happened in sydney australia. am i wrong? >> no. i think you are right. republicans will get to remind the voters that what we have done has worked. what we did was too much.
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stuart: thank you very much for joining us, sir. we appreciate it. we are down 50 points. that is it. the breaking news out of sydney, that hostage scandal is over, either way. we will be back in just a moment. ♪
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stuart: the police force is going to hold a news conference in eight, australia. the time, however, has changed. one other dpm eastern time. check the big board. this market has come back. the news unfolded out of sydney australia, australia. 56.54. >> thank you so much for joining us on short notice. forgive me for starting with my
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opinion. i think the terrorist attacks highlight our own vulnerability to a lone wolf attack here in the united states. i do not think the president is ready to add it the level of danger we are in. >> al-jihad us have seen how it was done. this was a unique case. this is not a regular member of isis. this is a g hott who left iran under one name. on his own, and machine that
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goes from one side to the other side. keeping one thing in mind is that ideology. they have canceled in the capacity. you will get more of these. including in the united states. stuart: i am terribly sorry to cut it short. thank you so much. short commercial break. back with more morning after this. ♪ she's still the one for you. and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your
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energy lives here. stuart: that is the whole point.
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talking about why this market sold off. our time is up. p 17 many questions remain. in the meantime, i want to bring in my colleague rich edson. what is the latest? >> two hostages are dead along with a gunman. international reports. he held hostages in a café in sydney for 16 hours. he called himself a muslim cleric.


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