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tv   MONEY With Melissa Francis  FOX Business  January 2, 2015 2:00pm-3:01pm EST

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now. >> hi, there bullish talk from the fed, dierdre we have exclusive word from cleveland's new fed president, when she sees rates rising. everything we thought we knew about cancer might be wrong. a new study says bad luck may have nor to do with it than anything. marissa mayer shopping spree not over yet. 10 billion cash burning a hole in the yahoo! chief's pocket? why she is checking out cable networks now. the world in 2015, cia's predictions 15 years ago have come true. even when they say it's a not it is always about money. jo ling: breaking news on north korea. let's go to rich edson. is this part of the first proportional response? >> it is jo. this is responding to what
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officials call noter cree yeah as coerce i have actions in other words the hack on sony. white house through executive order just announced treasury department will impose sanctions on individuals and entities associated with the government of north korea. the order states quote we take seriously north korea's attack that aimed to create destructive effects on financial company and threaten artists and other individuals with the goal of restricting their right to free expression. treasury is announcing sanctions against the reconnaissance general bureau, north korea's intelligence organization. the korea mining development trading corporation. that is the country's primary arms dealer and korean trading organization. that is an entity that procures technology and several government officials will be sanctioned as part of this. sanctions prohibit any of those folks conducting business with u.s. companies or the u.s. financial system. jo back to you. >> rich thanks so much. bring in today's panel.
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james frey of "the wall street journal" rob morgan and rich lowery from "national review" also a fox news contributor. james, will this work? what kind of impact will we see? >> i don't know if it will work in preventing cyber attacks in the future. you like to see a response. this is good to undermined the regime possibly inflict some economic pain and also more good news from north korean defector park hack who announced this week he will be dropping by balloon dvds and usb drives with "the interview" in north korea. let citizens having to live under this regime have a laugh too. >> will he drop something to play these on too? >> that is another issue. technology is so backward there. i think maybe you look toward the 1980s model where we got communications gear into poland to help the solidarity movement there. same thing could happen here. dierdre: jo ling: what you do you think
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rob. people catching dvds if they're dropped at all and the picture economically? >> this is just a first step. sound like there will be some other sanctions coming. from looking at the u.s. markets, not going to have any impact. it will not affect u.s. earnings. sound like a measured response the beginning of it. i'm certainly in favor. dierdre: i will look at the budget battle also in d.c. a new year bringing same old fight to the nation's capitol. gop leaders and president obama set to clash over size of u.s. government an entitlement spending for medicare and social security. so, riff how do you expect this entire play to play out? >> well the first most, bitter battle will be over the president's executive order on immigration on dhs funding which was only funded for a short period in the so-called "cromnibus" bill at the end of the year. i think republicans will have very little leverage at end of the day. what will happen they will not fund the agency responsible for implementing this order but the agency is largely self-funding. so that will end up being kind
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of a fizzle. but i think a trend to look for we saw this with the come any but, republicans will be able to get substantive measures through on these must-pass appropriations bills. president obama if that change to dodd-frank or stand alone measure would have vetoed in a minute part after big spending bill he felt compelled to sign it. jo ling: what do you think of the climate? we do have a republican majority coming in. there is hope there will a little more of a dialogue since it is set in stone now? >> interestingly enough, jo ling whether there are lots of bickering or not the market tend to do well when there is split congress and president. so i guess my answer to this is the same answer i had with north korea. i don't see this really impacting the economy or the market. >> who are the north koreans in this scenario? >> that's a good question. >> it's a bullish signal for markets that you now have washington with more of a bias toward growth. i think that is a big focus with
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incoming congress. they want budget and policies to reflect that. so i think it is a positive. you also remember, you have the debt limit ceiling coming up again. mitch mcconnell in the senate says republicans will not shut doesn't government. you might see them extract a little more spending discipline to get that vote done. jo ling: interesting. rather optimistic. interesting stuff. bullish talk from the fed. that is dragging markets lower today. although we are actually off of those session lows, sitting at down .3% fox business's peter barnes, he sat down exclusively with the cleveland fed president earlier today. she believes the fed can start raising interest rates in the first half of this year. >> i think it just shows we're probably at an inflection point where we're now seeing acceleration of growth. we had six years of zero interest rates. we've had a very deep recession. the recovery has been slow but now we're getting to the point where i think that the economy is moving into a stronger growth
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path. jo ling: james where does this fit in terms of the larger fed decision to actually hike those rates? >> i think it is really encouraging. people have been talking about them waiting until next summer. she is now saying first half of the year. i would say the beginning of the year. now really is a good time. you could argue even the fed has been behind the curve here. she mentioned six years near zero rates. this is not an emergency anymore. the economy had a couple of good quarters here. it is time to start raising rates. i think part of it is they have to be ready to accept some correction in the market. that is not a disaster. it is not a tragedy. five 10% pullbacks do happen. jo ling: it held them back doing this partially inflation -- >> they need to get over that fear because we have to get back to normal rates. >> i absolutely agree that the fed is behind the curve. i think that, i do think that the stock market, the s&p will have a great year this year but i do think as james was alluding to. once the first fed rate hike
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comes, i have been overweight on stocks. but i will go to neutral weight. i will look for signs to pull out take more chips off the table once that. jo ling: speaking of the fed yellen foul here. federal reserve chair was completely left off the economists's annual list of influential economists and not one female economist made the list though mit professor jonathan gruber came out on top. we know what he thinks about certain things. i have to ask what you think. yellen left off the list. is this a big deal? >> they have this bizarre standard because she is so power ful don't consider her being own the list. gruber i think should be on the list. every word. jo ling: fascinating figure there. oil prices cuttings their losses after sinking to a new -- nearly $52 but we're right at five-year lows right now.
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iran is urging saudi arabia to act in order to stop the price slide. james, iran wants to help saudi wants saudi to help all other countries in the region. >> oh yeah. iran has got everyone's back. jo ling: my thoughts exactly. >> they really want saudi arabia to thrive. i think the saudis figured out they have less influence than they used to. most of the oil being produced outside of opec. even within opec you can't count on countries like iran not to cheat and just steal market share if you saudi arabia, decide to limit production. this is reflecting reality and good reality for us and for u.s. consumers that a few middle eastern countries don't have the sway they used to over oil prices. jo ling: rich, how much does this have to do with religious differences or cultural differences or at all? >> one of the theories that saudi is pumping to hurt iran.
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this could be to the saudis that they're pursuing right policy. jo ling: interesting stuff. what do you think? >> i would agree with james and rich. i would also add that saudi arabia would be embarrassed making announcement they're trying to limit production. as james was talking about if it has no effect at all then we all know what we're all thinking that opec is really been brought to its knees in some ways. jo ling: not terribly effective. here is one i want to get your opinion on, the apple watch. there are some not so great news for this product heading into 2015. venture capitalist fred wilson, who knows a thing or two about predicting that the quote apple watch will not be the home run product that ipod, i known ipad have been. rob only 5% according to a survey are actually likely to buy it. these are people who already own an iphone. what does that mean? >> well, for this product
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obviously that's not good. but i also think too that you know apple certainly hasn't been trumpeting the watch necessarily as the next big thing. this is, i think -- jo ling: certainly didn't roll it out very quickly. there is a sense the first foray. the probably first real big brands to make this work. rich something like the ipad where the first one is great but the second edition is where the money is? >> i kind of doubt it. no one wears watches anymore. since we're all wearing watches i can't say that. jo ling: how many are wearing smart watch. >> why would you fiddle with your watch when the phone is more convenient. jo ling: that's what we said about the phone in 2007? >> maybe. jo ling: hopefully you haven't already abandoned new year's resolutions. i have had it for two days. 46% people of are on track for their resolutions by end of june. according to a study by university of scranton. that is incredibly, incredibly impressive. where are you on your new year's
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resolution? >> i tend to avoid setting expectations at all for myself. i just keep the bar very low. jo ling: yeah. >> motivational book in there somewhere. jo ling: wow yeah. success without trying. [laughter]. what about you guys? do you have anything for the year? >> i would like to see, i would like to see the methodology of that survey. 46% are on track by june? i find that hard to believe. jo ling: i wonder how we define on track, rich. >> i'm a determined non-revolver because i know it will go nowhere. why even pretend. jo ling: well cnn could find itself with new owners maybe some new new year's resolution as reports emerge one tech giant is considering making a move. staying on the sidelines. why the super bowl's most prominent advertisers are pulling out of this year's big game. more money coming up next. ♪
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jo ling: u.s. senate majority leader harry reid has suffered a broken bones in his face an ribs after an exercise accident yesterday. senator reid was taken to a hospital near his home in
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henderson, nevada. his doctors expect him to make a full recovery from these injuries. reid is 75 years old and, in a statement he says he plans to return to washington this weekend. media reports are beginning to swirl that yahoo! ceo marissa mayer may be considering scooping up cable network. two potential targets cnn and scripps networks which owns hgtv, the food network and the travel channel. here with me rob enderle of enderle group, jonathan hoenig of capitalist pig hedge fund and scott martin of united advisors. jonathan and scott are both fox news contributors but i want to start with you rob. yahoo! getting back to saying all the rumors are purely speculative and they don't comment on this type of thing but where do you stand on this happening? >> she has been trying to build up some kind after new media company and building up a series of properties around that kind of like she was moving in the direction of some type of a
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video channel picking up an existing video channel would be seeming to be consistent with that strategy but you whether a new age company can pick up an old video broadcasting company? we certainly saw what happened to amazon and time warner merged. it was an absolute disaster, largely because the put cures didn't mesh. i have a feeling this is the same kind of problem we would have except in spades because yahoo! doesn't have the kind of money amazon had at the time for this kind of a deal. jo ling: jonathan, we know that numbers are increasing. they are doing better. marissa mayer turned around ad revenue. total ads are up pretty significantly so do you think there is way for this to work? >> that is aol like, amazon. >> you're right. >> no problem. like aol back then, yahoo! stock is at a near 52-week high, near a multiyear high. they have all that cash from alibaba. so they're sitting on quite some
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cash. they made number of acquisition. the stock has done very well and they're trying to push boundaries more of along a lines of netflix distribution model. original content and cable channels could easily be a part of that. jo ling: all this cable content is evergreen like the food network. not like the content expires. so generating ad revenue it is really strong potential play here. scott, do you think marissa mayer is able to though turn this inevitability of this direction where yahoo! has been going around? >> i it is tough to say. you know why? alibaba, that whole deal that they had worked out pretty well, right? they got about five billion in cash. they're in this aa period, the after alibaba phase like jonathan said. believe it or not, even though the street doesn't seem to like inries is a mayor as a ceo jo ling, when she took over in july of 2012 the stock was in the teens. now they're pushing 50. there has to be something more the stock wants to see from her because it pretty much
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flat-lined since that ipo of alibaba. i think overall she has done a pretty good job and made several acquisitions, dozens of them over the course of her ceoship that worked out okay. jo ling: you're right. probably pretty easy to say it is not moving fast enough when turning around something behind so long. yahoo! isn't only one fighting to stay relevant here. wall street is dealing with new challenges in one of its bedrock bizs startups, delaying going public. more companies are raising huge sums in private deals that enable them to postpone ipos and getting money without of the banks. this has everything to do with a number of private investors that want to get involved. so rob do you think that this is the only thing that holding companies back? i don't think so. is. >> well we certainly saw a number of companies go private this last year and do much better. dell was probably the largest that went private. the lack of focus on the financial markets allowed them to pay off i think it was something like $5 billion in
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debt in the first year they were private. just wallowing in cash all of a sudden. and michael dell, got to speak to him. he is happiest guy on the planet he doesn't have to deal with all this mess. a lot of that is flowing through. small companies can get money another way and not deal with overhead of an ipo and managing new activist investors they will be a whole lot happier. that appears to be a part of the reason folks are staying away from ipos at the moment. jo ling: jonathan, do you think we'll see impact trend? if you look at valuations a lot are ready to go. look at average company ipoing last year, they were 11 years old. back in 2000 they were only five years old. >> that's it. what happened in 2000 was inaction or enacting of sarbanes-oxley and other types of regulations to our guest as point a made it not only costly to go public but extremely costly to stay public as a small company. so you're seeing once again either companies get private funding or those who do come
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public are much more mature, much more established than they ever been before. unfortunately the losers are everyday investors who don't have access to the preipos. and small companies themselves which find unless they're backed by the big vcs of the world they can't get funding at all. jo ling: we'll watch airbnb, uber pinterest there is whole long list of them. moving on, a devastating new study you changing everything you thought you knew about cancer. sometimes the price is just too high. you will never believe how much some people think a new iphone costs. do you ever have too much money? >> actual retail price $1969.
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will have you believe. scientists at johns hopkins say 2/3 of cancer cases are because of random gene mutations not just because of a poor lifestyle or tough environment. joining me now to explain all of this is dr. kevin campbell, a medical expert and cardiologist. thanks for joining us, dr. campbell. >> thanks for having me today. jo ling: can you kind of explain for those of us who don't understand the gene mutation factor here and what is so unlucky about it. >> when cancers develop gene mutations are just one piece of the puzzle. when cells divide we have to make copies of our own genetic material which is dna and sometimes errors happen during the copying process and that is what a gene mutation is. this new study use ad mathematical model to predict how often the gene mutations would occur and they estimate 2/3 of cancers were caused by random bad luck mutations. jo ling: we know smoking or not
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using sunscreen will increase your chances getting various types of cancer. so you can't exactly say well, none of that external stuff matters. it certainly has a row right? >> absolutely does and you know this study needs to be taken with a grain of salt because the study certainly shows that mutations play a role, but my goodness, smoking does lead to lung cancer and sitting out in the sun and getting terrible sunburns will put you at high-risk for developing melanoma. we know. that. not just one thing or another. it is environmental and genetic and mutational. all these together explain why people get cancer. jo ling: looking at the broader picture and broader numbers here we see cancer rates are expected to rise 5% in the next two decades. so do you think we're just getting unluckier overall? obviously environmental stuff does play a role as you just mentioned but, what about these numbers? should people really understand if the possibility of getting cancer is up 57% in the next 20 years? >> well i think part of it is is
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the fact that you know, we're living longer. we have more therapies to keep us healthier longer. if you think about it, the more types cells have to divide the more errors that are possible. so that may explain the increased rate of mutations. you know we need really to understand that cancer research is booming because i think we'll in the next decade make a big difference in really impact once incurrable cancers. jo ling: you mentioned research. how will this change the way you conduct your practice and how research scientists go about reserving cures to various cancers? >> honestly i think that it will have little impact on how we function day-to-day. we still want to be very, you know proactive and preventative like you mentioned. preventing cancers by not smoking and by staying out of the sun. but i think we're going to see era in medicine called genomics where everyone has their own genetic makeup, your own genome and you're treated based on what your genetic makeup is. it is personalized medicine. it is the future and it will
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make a difference in the next decade. jo ling: you see some patients. i want to know why is it that sometimes someone is 100 years old and they have been smoking their entire lives and they're not one who gets lung cancer? >> you know, that is really hard to predict but some people have a genetic makeup they don't have the same predisposition to certain cancers. and as this study showed us they may have been incredibly lucky and had very few of these mutations that made a difference. you know, i think these are answers that as we look into the human genome project and we find out what everyone's genetic make up. we have may have answers to those types of questions down the line. jo ling: dr. kevin camel about thanks for joining us today on this very complicated topic. >> thanks for having me. happy new year. jo ling: happy new year. a few stories on our radar, gm kicking off the 2015 the only way it seems to know how with a new recall. another 92,000 trucks and suvs called back for an ignition design flaw.
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silverado, tahoe and cadillac escalade are included. shares down .3% on the news. americans saving big at the pump this year. aaa says u.s. drivers will see $75 billion savings gap in 2015. compare that to just 14 billion we saved last year. elon musk rekindles the romance with his ex-wife didn't last very long. the tech genius divorced his wife, the actress tallulah reilly second time. they were divorced in 2012 and married 18 months later. musk will give her $16 million in a cash settlement. isis the terror group plagued with whole knew obstacle. ebola. you have the listen to the latest reports we have for you. plus overpopulation and foreign threats cia stunning predictions about life made back in 2000. many of those are eerily true.
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>> the world health organization investigating a report. slamming the claims as incorrect and unfounded. an outbreak of the deadly virus could have an affect. mike baker also the president. james and which are back with us as well. the symptoms are actually relatively similar to malaria. >> it would be unlikely. there is no way to get a
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confirmed case because we do not have the ability to check for ebola up in that region. there is no access. they have been randomly killing doctors that will not treat them up there. it would be a huge disaster. >> what do you think in terms of the likelihood of this actually being the case and the economic impact of that. >> it would potentially be a disaster. >> the pilot reportedly confirms the terrorist claims.
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he includes the details of the coalition's strategy including how airstrikes are coordinated. we are talking about a very complicated geopolitical issue here. >> a horrible event. pilate and his family. i would think probably not a huge deal. >> are you surprised that the pilot would be sharing these kinds of details? >> i am sure that he is doing it under extreme duress. i think james is right. a big question of 2015.
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a very limited and lackluster campaign against isis can begin to have some real effects and show some momentum. they have also denied this claim. what do you think actually unfolded that day? >> isis wants them to say that they shut it down. there is some serious blowback. the fact that the jordanians. quickly cede operations -- we are going to continue to plan
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and the procedures and policies, we are not taking isis seriously enough, i do not think. where a long and difficult fight. i think the longer we do that, the better they are at consolidating their territorial gain. i just worry that we are not properly doing this at this point. take a look at this big one for example. international fares would be determined by powerful organizations. this is a right. what do we learn this prediction.
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correct? >> they spend a great deal of time studying trends developments analyzing. the fact that they, you know, made these predictions, for the most part, they are correct. the sophisticated direction that terrorism may take. this is part of what the agency does very well. over a period of time, they pay attention. >> full of fairly smart people.
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let's say the department of housing and urban development, for example. >> we have to move on, thanks so much for joining us today. >> why would your past that suggest quick and change jobs entirely? you too may never be the same. at the end of the day, it is all about money. ♪ ght. it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees from the bank where no branches equals great rates. i've smoked a lot and quit a lot but ended up nowhere. now...i use this. the nicoderm cq patch with unique extended release technology helps prevent the urge to smoke all day. i want this time to be my last time. that's why i choose nicoderm cq.
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♪ >> i am jo ling kent with your fox business. a spokeswoman for her committee. a sign that the arena is planning to run for president in 2016. she may now be holding her political campaign. twitter will pick out all of these that you think will find in print and show them to the next time you login. a freak bike fruit bike accident here in new york for bonneau. if fractured his hand and shoulder blade. that is the latest from the fox business network. giving you the power to prosper.
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>> a business alert for you right now. settled below $53 a barrel. it crept as low as $52. sometimes you just have to quit to get ahead.
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maybe you should be studying your sites elsewhere. quitting your job will make you more money this year why? >> absolutely. if you want to jump that by 10- 15%, quit your current job and go find a better paying job. >> with the jobs numbers being strong, you advise lineal's to do this. >> i disagree. i think people have to have the courage to stick it out and create long-term stability and long-term growth. if you want to buy and sell in
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six months and try to make a quick game, you will never have long-term wealth. do your career as a blue-chip stock. if you keep taking jumps jobs every six months, every 18 months every two years, to make money in the short run you will be viewed as a job hopper, always moving for money and you will become a long-term unemployed. >> looking at hiring though, the number could not be stronger. the highest since the recession first started. you have to support a family making more money. surely, it seems like a no-brainer. >> a no-brainer depending on what your current situation is. you do not always want to be the last man on the bus because you
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always -- it really depends on the size of the increase you are looking for. if you have been in a place for five-six years in your income has been flat, yes maybe it makes sense to move. if you have a great relationship with your current employer, if you have a 401 k match if you have all of these things we for one, two 3% more may not be good in the long term. >> i realize your plate. there has to be more than just that. >> we are also forgetting that people also have jobs because they want to enjoy what they do and feel purposeful and what they do. money is not necessarily the
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reason why people chop off all the time. what happened was people got stuck. now they know there is opportunities out there. you are seeing less people on social media. i have an option here. we should all be searching what is the right for us. >> thank you so much. stocks are off to a weak start this morning. you are watching one name under pressure pick time. who is that? >> the company is not impressing wall street with the branding effort. shares today are down 11.9%.
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this is nothing new, as i said. shares have been down 8.6%. crazy, right? your fitness resolutions should be clicking in. they are really eating away at the competition for weight watchers. the dow is trying to climb back. back to you. >> lori, thank you so much. we are headed into the last hour of trading. let's check in now with cheryl casone. >> it is the first trading day of 2015. the s&p gaining more than 11%. how will your money trade throughout the year?
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many of you love to make those resolutions. a lot of you probably had too many cookies cake last week. many of you will want to go to the gym. suddenly not necessarily ready for prime time. taking a break from his suite life as a pilot. ♪
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>> around the world today. a sony happ. it is now talking with neighbors. he announced he would not say no to a chat with south korea officials. one of his communications. softening the south would be open to discuss. 400,000 barrels a day.
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with less than one month from the most-watched event in tv history, the super bowl. many automakers are sitting out. some of the worst performing last year scaring away many brands. scott is back with us. what adds resignation as of last year. some were shorter. some had new plans. some were introducing new products. a lot of them will not do that. is that the only explanation why they do not do well?
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>> and him him
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jo: so an hour just isn't long enough to bring you all of our favorite stories, but there are some headlines that are just too money to miss and my producers are in the control room with a little extra bang for your buck. >> listen up, apple. at least two people think your iphone 6 is worth at least $7500. people put in their bids on the price is right but it was, oh so wrong. jo: i laughed so hard i thought
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it was ridiculous. >> i would say apple's ceo tim cook has done a pretty good job running that business but he's leaving a lot of moneyon the table if she's -- money on the table, and consumers are willing to pay seven and a half times or they think it's worth that much versus the retail price. definitely time for a price hike. jo: what's next? >> the crowds were left laughing at this building in crimea. they were going to watch the demolition, but it just crumbled a little bit and started to lean to one side. jo: good news, i guess, for those who want to keep the building? >> i think this is what happens when you refuse to give the demolition union everything they want. [laughter] give it to them or they're just going to leave buildings -- >> i want the guy who built that to work on my back deck. it canning withstand -- [laughter] jo: a play for u.s. infrastructure as well. we also have one more story. andrew, what have you got for us? >> well if your new year's
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resolution was to eat healthy, taco bell knows you need free tacos. jo: i love doritos locos full disclosure, they're delicious. would you guys go for this? >> by definition it's business genius. anyone who came up with this idea in the first place of doritos in the tacos jo: i hope you're making money today, melissa is back on monday. ""countdown to the closing bell" starts right now. cheryl: don't forget the doughnuts. stocks started the new year with a bang, but they have since given up the game partly on weaker than expected factory numbers. right now the dow is trading to the downside. as you can see right there, we are down about 23 points or so and below that crucial 18,000 mark. we're going to have full analysis in just a few moments. we had been up, by the way this morning about 128 points. that was the session high for the dow jones industrials. here's the question for all of


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