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tv   After the Bell  FOX Business  December 22, 2015 4:00pm-5:01pm EST

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sound, ding, ding, ding, there they are. the dow is trading up almost a full percentage point. 160 points to the plus side. everything is up except gold. we should mention, however, that -- partly because of the holidays this week, the stock volume is a lot lower than it usually is by about 14%. so very low volume, move the market in big directions. david: big swings. and today we had one to the positive side, which is good news. gerri. >> more on this. ashley webster standing by in the newsroom. what's fueling the rally? >> well, we can't talk about the market without oil and landed slightly higher, it has been helped stocks and what's interesting is that the u.s. dollar has pulled back in the last couple of days, which has added a general support to the commodity sector. so those two things combine that have helped to give some stability to the market. but to david's point, the trading volume is very thin, a
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lot of people hitting the road, so that does add to the volatility. but you can see oil up 34 cents at 36.15, it has people saying -- well, has oil hit a bottom? no one and knows if they say they do, they'll be lying. we shall see. as for the dow jones today, you can see nice surge throughout the day. kind of mirrors what happened yesterday, a nice surge at the end. but the dow up 166, broad sectors across most of the -- all green across most of the sectors is what i'm trying to say. we have seen some weakness recently in financials but even those picked up today. i believe we should have more rate increases. that's disappointed some people on the nasdaq. some of the financials stocks for you. but overall it's an oil story, guys, and oil has stabilized for now. >> ashley, thank you for that. and i'm going to count this as the santa claus rally, okay? david: it looks like there's something beginning here. >> yeah. david: when you have nasdaq over 5,000, by one point
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anyway. meanwhile over in politics, frontrunner donald trump getting some company at the head of the gop pack. according to a new quinnipiac poll that shows senator ted cruz almost neck and neck with the billionaire businessman. bilk berman has all the details for us. blake. >> it is still donald trump and ted cruz and everyone else according to the latest national quinnipiac university poll. trump has support from 28% of voters but cruz hits his highest mark yet in any national poll to date with 24. dr. ben carson continue to be the only another's treatments. now, continues to lead the republican pack, appears to be a different matter. this poll shows that 50% of american voters say they would be embarrassed to have a potential president trump running the country. roughly a third of voters feel the same way about hillary clinton. the crossfire between the two frontrunners haven't slowed down at a rally last night in
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michigan trump used a word to describe male anatomy when talking about clinton's 2008 democratic primary loss. >> she was going to beat obama. i don't know who would be worse. i don't know. how does it get worse? but she was going to beat -- she was favored to win, and she got -- she lost. >> the clinton campaign director tweeted out this morning quote we are not responding to trump but everyone who understands the humiliation, this degrading language inflicts on all women should. trump also questioned the reported bathroom break during the debate in which clinton returned to stage late. he called that quote disgusting. back to you in new york. david: all right. a little too much information on all of this. by the way, you can catch fellow republican candidate jeb bush in the next hour. he's going to be joining jo ling kent on risk and reward, remember jeb bush and donald trump have had a few things to say in the past. >> nothing nice.
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david: i'm sure she's going to pry on what he thinks. coming up in the next hour. >> and new two months in the deadly taliban attacks that took the lives of six nato service members. we know know one of the troops was a member of new york's finest. fox news jennifer. >> yes, i knew joins us now with the very latest from the pentagon. >> well, we've just learned about more about the six americans killed in afghanistan. one is the son of a restaurant owner here in dc. staff sergeant peter. his father announced his son's death in a facebook post. we have learned that one of those americans killed in afghanistan was a female serving in the u.s. military, major who helped overturn don't ask don't tell. all six americans will be repatriated to dover air force base tomorrow. among them is a veteran new york detective from the bronx. joseph, a member of the air national guard on his third deployment overseas.
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he leaves his his wife christine and teenage daughter brook and young son brian. the pentagon will release the names of the others today at 6:00 p.m. eastern. a suicide bomber on a motorcycle packed with explosives drove into the american troops while they were walking in a nearby village near air base. this is the most deadly attack against u.s. forces all year. the taliban claimed responsibility, 35 miles north of the capital cobble, and it is where most of the 9800 u.s. troops are based after the president declared last december that combat operations are over in afghanistan. meanwhile the taliban have retain key areas in afghanistan. some say up to 20% of the country has been taken over by the taliban. there's a serious fight in province as we speak where most of the opium is grown that funds the insurgery.
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the troops have asked for more help from cobble. in the meantime isis is trying to become an alternative to the taliban and isis run radio show in eastern afghanistan near the border with pakistan is broadcasting in the vigils trying to present a kinder, gentler image of the group as it seeks recruits. general john campbell warned recently that isis using foreign fighters from syria and iraq is trying to set up a base near afghanistan's eastern province. back to you. >> great reporting, jennifer. thank you for bringing us that story. david: so what is going on in afghanistan? here to weigh in david sears. former u.s. navy seal. we have americans getting killed now in greater numbers in afghanistan. we have the taliban taking over territory we didn't think they would be able to do. are they winning? >> are they winning? no. it's a classic insurgency. there is no winner. this is going to go on, and it
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has gone on for 15 years arguably now. afghanistan hasn't been ruled peaceful since they had a king. this is going to continue. we're going to see more blood and treasure from the united states expended in afghanistan. david: but, you know, when we went in there first in december of 2001 after the 9/11 attacks there was a group called northern alliance, they were a good group of fighters, they hated the taliban, they were willing to die fighting the taliban. what happened to them? why is it the current afghan military doesn't seem to be as successful? >> well, i think those guys are cast off. so it's very feudal society as it is, those are the warlords and as is tries to transition to a more constitutional government, a democratic d. you see the warlords push to the sides or join the process. now you have the afghan national army, which we trained somewhat in our image. meaning that with joint combined arms, they use air power like we would use.
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they're just not capable of that. we need toking about a being in training them in weapons and tactics that they are used to. david: another army that people have questions about is iraq, there's a going on against isis from the way i understand it, isis has about 300 fighters controlling ramadi and the iraqi military units have about 10,500 -- does it really take 10,000 iraqi nationals to kick out 300 isis militants? >> so 300 is an estimate; right? either way, your honor anwar fair is very brutal. they're going to use human shields, they're going to hide in every crook and crevice that's there. that takes a long time to root out, especially when you know one of the tactics they use is suicide. so as you turn a corner, a guy blows himself up. they're not actually trying to hold it anymore, going to try
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to inflict as much damage as they can and then fade out. david: it's unbelievable. 10,000 to 300. it makes the powell doctrine look in comparison. >> it does. you're absolutely right. david: david sears, thank you very much. appreciate it. >> thank you. have a great christmas. david: thanks. same to you. >> sergeant bowe bergdahl in court earlier today. being tried on desertion charges and for endangering fellow troops. fox news jonathan has the details on his first court appearance. jonathan. >> hi, gerri. well, sergeant bergdahl appeared in court wearing an army dress uniform and a fresh haircut. at the time he told the judge he was not ready to enter a plea, that will happen at a later hearing. when asked by the judge, bergdahl indicated he was satisfied with his legal team. a combination of civilian and military lawyers will be defending him as he faces what's called a general court-martial. this is a type of military court reserved for the most serious offenses. sergeant bergdahl is accused
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of desertion and misbehavior before the enemy. if convicted on that ladder charge, he could face up to life in prison. his supporters suggest bergdahl was under intense psychological pressure when he wondered away from his forward operating base in afghanistan and into the hands of taliban militants back in 2009. but critics say bergdahl needlessly endangered the lives the soldiers he left behind as well as the lives of the soldiers who went looking for him. and as a result of the highly controversial prison swap that brought about his return to the u.s. five taliban officials were released from gitmo. bergdahl will have the option of being tried either by an individual military judge or by a panel of commission and noncommissioned officers. bergdahl said he wasn't ready to decide either way today, again, that's something that he will decide at a later hearing. he's scheduled back in court at fort bragg january 12.
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>> thanks for that report. david: the same day we hear about what happened to the u.s. forces being killed there. well, there is good news for those hitting the road this week. holiday travelers can expect to pay less in gas at the pump than they have in nearly seven years. >> would havwoo havehoo. david: yeah, americans have saved $115 billion in gas expenses this year thanks oil's recent decline. although they're not spending a lot of it. they're saving it. >> i was hoping i was going to get better gifts. david: well, it's not christmas yet. meanwhile secretary of state john carrie telling iran that it may be able to skirt the new rules voted on by congress. >> and need it 2016, 66% of americans feel government is broken. we have the new results of a fox news poll. david: and american airlines is hoping this will make you feel better when you travel this holiday season. the cute and fluffy puppies.
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david: secretary of state john kerry is keen to show iran that he stands by the nuclear deal by helping them avoid some other rules. after the iranian foreign minister wrote to kerry expressing concerns over new restrictions in the visa waiver program, kerry wrote back suggesting he could help iran skirt the new law. here to weigh in is zuhdi jasser, founder and president of the american islamic form for democracy. zuhdi, why is kerry giving iran a pass on this? >> it's just more of the same appeasement. they're doing anything
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possible to bend over and make this deal go through, and they -- you know, kerry shakes in his knees every time they say iran -- well, what's happening and this waiver program? i hope americans understand so far all of the threats of terrorism against our western homeland have been related to sunni terror. and the reason shi'a terror have not attacked us is because of the sanctions and the limited travel, et cetera. so the lifting of these travel visas requirements if you will is going to unleash the threat of terrorism from -- if you think of iran, think of assad and its genocide and its people. think of death to america, think of holocaust and american prisoners and our soldiers that are in prison there and they're talking about waiving -- and, by the way, he told them in the letter he would just waive every requirement that our government has initiating, so bypassing the requirement. david: well, zuhdi, pull back a minute and this is what he said. this is the letter to the iranians. we will implement the changes to the waiver program.
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so it's not to interfere with legitimate business interest of iran. i mean really bending over backwards to help a country that has called us the enemy of mankind. in the middle east when you see somebody like this in the association bending over backwards to help the enemy, what's the impression that that enemy has of you? >> this is in the old tribal politics that my family escaped from the assad regime and others from every country. those that are weak get designated, it gives them the green light to advance and continue the region. this is why this $150 billion that we're releasing is going to continue to flow the to access of terror that includes assad and russia and others that are trying to simply gobble up the middle east and about spread the militancy and the ideology from the shi'a side that has also been able to spread from the sunni side and basically fueling our own demise and the own threats to our security. not only in the middle east,
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but to israel and our own -- our own security domestically in the west. david: very quickly, zuhdi. even in the best of circumstancing when you give something to your enemy, you expect something back in return. in this case we're getting nothing back. in fact, the iranians are violating the spirit of this deal with the nuclear test. >> we get nothing, and it's breaking the heart of every syrian american to see how much we have given away as syria is being decimated by iranian troops and we have the lack of security, the security we've had over iranianism has been lacking over the past 20 years so not only are we getting nothing, we're going to open up the green lights to threats on our homeland that have been exponentially worse than ever been. david: well, despite all of that, happy holidays. good to see you. >> any time. gerri: following other stories on our radar that is. more than 1 million refugees have crossed into europe this year.
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that's more than four times as many as last year. almost all. half of the people entering europe were syrians while 20% afghans and 20% iraqi. another state on the lottery scandal, allegedly fixed two jackpots in kansas bringing five states connected to the investigation. and while airport travel is bound to be stressful this week, united airlines is bringing man's best friend to cheer you up. the airline will have more than 230 -- they're calling them trained comfort dogs, mostly golden retrievers at seven airports across the country to treat travelers. not a bad deal. david: coming up the warm weather could be nice to you but harming retail stores half a billion dollars. just think of the coast alone. meanwhile one irs computer glitch costing you, the taxpayer millions.
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just wait until you hear how much and how much they screwed p announcer: one candidate tough enough to take on the bully...
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david: we have some breaking news. just coming out of new york city, which has received apparently a credible threat of terror. this according to law enforcement officials. new york city police commissioner bill bratton held an emergency meeting to discuss nypd's response, no details regarding the nature of the threat has been released. zuhdi is back with us, we were just talking about the oppression in the middle east when we act in a feckless way. do you perceive the way we reacted in san bernardino was feckless and that might be encouraging isis and other terror groups? >> well, i think they also saw the reaction, they saw the weak stance in which we see some of the candidates even on the left saying that somehow we need to change who we are and be nice to islam, et cetera. instead of actually motivating
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and demanding that muslims own up to it and take responsibility. no, we've been weak on almost every front. and isis as we get closer to the christian holiday of christmas is probably motivated to continue to use their religious flag of what they call islam to inspire terror among their followers. so this is a very high risk time and weakness, unfortunately, is giving them even more green lights to do more and more havoc. gerri: well, nationally our international facade is weak but locally here in new york city the new york city police department have to be very, very strong. you know, it's a big question out there about what constitutes a credible threat. as you know l.a. closed down their schools just last week, and it turned out not to believe a credible threat. what are the elements that convince local law enforcement that they have to put out a public statement that they have to take action? >> well, i think ultimately as they have to take everything seriously. so, you know, we don't know the details often of what they hear. but once they hear some kind
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of threat, they have to take it seriously. and i think ultimately what they learn from san bernardino, what we learn from chattanooga is the -- there was some social activity on facebook, et cetera, the chattanooga shooter had posted he wanted to establish islam in america two days before. so there are things like that that we're realizing that should have been monitored. that may not have been telegraphing violence, but were telegraphing a supremacist ideology that should have been monitored since it was publically available. and i think now they're starting to realize we've got to act on whatever we see and, you know, make sure that -- gerri: right? >> if there's a way to preserve life, that we have done it and not later regret it. david: zuhdi, after the paris attacks, isis put out this video that showed scenes of new york with some threats underneath the video that they were showing. we haven't heard much about that. could this be related to that? do you think that they were serious in that video or was it just -- they were trying to just scare us?
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>> i think it's all of the above. i mean they are basically a viral barbaric ideology that tries to ingest its virus into any mind possible. so they will in some ways as we saw in san bernardino do the softest targets possible that nobody would ever think of, a christmas party at a health care facility versus new york, which is a hard target but ultimately has a lot of symbolism for them. so they will strike all of the above. we saw isis mention triple in libya, we see them pull into ideas, i mean they have a magazine called inspire but it uses the symbolism of bringing back the caliphate. so they divide the world into the land of islam and the land of war and anything in the land of with a which is in europe and america is fair game, and they will continue to do both symbolic targets and soft targets to use the weapon of asynchronous warfare. david: well, we are a hard target as you suggested, we have a good police
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commissioner, thank you very much. appreciate for you coming on during breaking news. now breaking business news, nike, the best performer of dow this year by a mile, just out second quarter he didn't results, ashley webster has the results. >> great year for nike, up almost 38% this year, on the earnings per share, it came in at the fiscal second quarter at 96 cents. let's take a look at the revenue side. the estimate was for 7.81 billion, it actually came right around 7.7 billion. so a miss on revenue. but for most of the report, it seems pretty positive. north american revenue up 9% worldwide, future orders up 15%. the latest sales numbers were up 4.1%. the only other fly in the ointment is european revenue was flat year over year, if not slightly less which may have hurt the overall picture but the stock up 36% now for the year.
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david: 36% for the year. gerri: the obama presidency is almost finished but the president is not. 2016 is going to be a sleigh. we'll tell you what is on the agenda. david: probably a lot of executive decisions i would guess. and the latest poll showing trump is the leading candidate for 2016 but will his potty mouth -- there's no other way of putting it because he was talking about the pot peep will the potty mouth get the better of him? >> where did hillary go? they had to start the debate without her. phase two. i know where she went. disgusting. i don't want to talk about it.
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it's the look on their faces that make it all worthwhile. hurry, these offers end january 4th. thank you santa!!! . david: president obama is in the twilight of his presidency but not slowing down. both his domestic and international agenda are chock-full. peter barnes joins us from d.c. with the president's 2016 docket, peter? >> reporter: the president believes he had a productive 2015 and thinks he could have a good 2016 in final year of presidency. president said accomplishments included decent economic and job growth in 2015. the iran nuclear deal, climate change in paris. the big pacific trade agreement and blast of bipartisanship with republicans in congress that produced an education bill, highway bill and 1.7
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trillion dollar budget and tax deal. for 2016, the president and aides say the major priorities are stepping up against isis and protecting the homeland of course. criminal justice reform and executive order on gun control and closing the u.s. military prison at guantanamo bay, cuba. the president plans to get engaged in the democrats' fight for the white house. >> i think this president would prefer to focus on the economy, which appears to be getting better gradually, certainly the labor market is improving, and i think he'll tout that. he wants to let the public know things have improved. he wants to lay the groundwork for hillary clinton to win the election. >> reporter: obama aides say the president hopes to visit cuba next year after he started normalizing relations with the island nation a year ago. david? david: busy schedule, thank you very much, gerri? gerri: head of the gop pac but according to a new quinnipiac poll half of americans say they
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would be embarrassed to have donald trump as president of the united states. here's another reason why -- >> everything that's been involved in hillary has been losses. you take a look, even a race to obama, she was going beat obama. who would be worse? how does it get worse? she was going to beat, she was favored to win and she got [ bleep ], she lost. gerri: okay, we [ bleep ]ed, that you heard that, right? what we bleeped out is a derogatory word used for a part of the male anatomy. joining me brad blakeman and dan heninger of the "wall street journal." what do you make of the comments? is that beyond the pale? >> i think so. but i think that poll that just come out from quinnipiac about 50% thinking they might be embarrassed is i think a sign of trouble for trump, something he ought to think about. he has fomented a lot of anger
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in the electorate, and i think if it continues like this, there could be a point which the anger begins to turn back on him, i mean his unfavorable rating is over 56%, and while he has fed a lot of negative vibes into the system, at some point donald trump, who keeps talking about make america great again has got to start talking in a positive direction. how would he make america great again? gerri: that's what we've been missing, right, brad, are specifics? 50% of us, half of us saying not donald trump in the white house. i can't see that in the white house. >> well, absolutely, and to use another yiddish word, his shtick is getting old and the curtain's coming down on his entertainment value and people are starting to think seriously, is that the guy, if you're a republican, that you would like selected, and the general population, the electorate is saying is that the guy we want to elect as president? and clearly, clearly there are trouble signs with donald trump
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as the public gets closer to voting, saying this is the type of person we want as president. gerri: interesting, this blew me away, the poll showed 35% of americans have a problem with hillary clinton as president. thought it would be embarrassing. richard to you, what do you make of that number? >> a lot of republicans do not want hillary clinton to be president, but, look, to use yet another yiddish word, i think donald trump -- gerri: you guys are good. >> he's selling himself to be meshugga. gerri: that's crazy. >> okay. thank you. the fact of the matter is he's got one whopper after another and a view banality of it doesn't have time to sink in from the last one until he comes up with a new one. you put them all together, i agree with dan, that the voters are going to look at this and go election are about the future, donald trump is just basically dumping on the path.
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even his comment about he's sickened about the fact hillary clinton had to go to the bathroom? none of this is beyond the pale compared to racism and fascism, okay. gerri: all right. >> i'm not using the terms lightly. but the fact is other than carl icahn, mike tyson and dennis rodman -- >> we're off the rails here. guys, stay with me. broken, that's what american voters are saying about the federal government. new topic here, according to a "fox news poll" just released 56% of respondents feel that way. dan, start with you, what do you think of that stat? >> no surprise at all, i mean that is the blob and the federal government is now too big not to fate. the stories that have accumulated over the course of the obama presidency, the veterans' administration, the irs, the failed rollout of obamacare, there is hardly any reason for people not to think that the federal government is
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not working well for them, and i think it feeds into the frustration we're seeing out there right now. it's obviously well beyond their ability to do anything about, but they keep saying why are we paying all the taxes, and why isn't somebody doing something about it? question is could anyone. gerri: brad, for a second, uncle sam's performance just okay, 7% of the american population, nobody thinks the government is doing a good job. what is the one thing that you think pushed people over the edge, brad? >> i think the incompetency, the lack of leadership from the president, and remember, gerri, this is a reflection on the people in power. the democrats. would have been eight years next year when people go to vote, and they're blaming the people in power. that's where hillary clinton and the democrats have a lot to answer for, especially hillary because she's been part of the administration. there's another poll that has been really key for people in the general election, that is, is america on the right or
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wrong track? they're over 60% of the american people feel america is on the wrong track, and by the way, when people go into the voting booth, it's what reagan started in 80s asking people are you better off today than four years ago? clearly the answer is no. gerri: that's a popular metric. brad, richard and dan, thanks for your help today. >> thank you. david: we were talking about government dysfunction. get this, the irs awarding millions in refunds to the wrong people, and your tax dollars are paying for it. more details. this is going to make you furious. that's coming up. and famously known for grinchy press conferences. patriots head coach bill belichick has a new song that's going light up boston with christmas cheer. can you believe that? stay tuned. i accept i'm not 22. i accept i'm not the rower i used to be. i even accept i have a higher risk of stroke due to afib,
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. gerri: an irs computer glitch could be costing taxpayers millions in refunds. the agency doling out more than $46 million to potentially questionable and even fraudulent tax claims. the glitch has been identified but up to $230 million could be at risk. here to weigh in, dan heninger, "wall street journal" deputy editorial page editor. dan, so good to see you again. this isn't the first time we've been down this road. this is the irs every year. treasury inspector general writes a report about them handing out refunds to people who are crooks. >> here we go again, gerri. the irs is particularly vulnerable to this sort of fraud that's being committed, and you know it's because the computer system simply don't catch up with them, some of the irs agents identify the fraud but then the system automatically sends out the payments to the fraudsters anyway. it's hard to believe. david: if that system also is
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so antiquated, you think of what that might mean in terms of being able to get hacked into, and then you think of all the information that the irs has, information that allows them for example to freeze your bank account. imagine a hacker getting into all that. >> terrible to think they can do that. but most federal computer systems are really behind the curve. i think a lot are vulnerable in that way. look what happened to the office of personnel management that lost $20 million. chris christie talks about it now in the debates. they've got his data. gerri: well, the irs has been using a version of microsoft windows that isn't supported by microsoft anymore. it's ancient. it doesn't work, and the irs itselves is look, the problem is all because our budget isn't big enough, true or false, dan? >> that has got to be false. giving them more money will make the problem bigger. to make a political point here, gerri. i think this is an argument for tax simplification. all the republican candidates
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have been proposing something like steve forbes proposed way back in 1996. make the code simpler so that you don't simply don't require as much input from the irs to process these returns. david: glad you mentioned, forbes. thank you, dan. a new study suggesting half of american parents would delay retirement in order to support their children financially. 46% of parents would require later than planned in order to give their children fiscal support, this according to the bmo wealth institute. dan is still with us, gerri, i grew up with my grandfather. my grandfather lived with his son with my father and as a result of that, you know, i had a great relationship with my grandfather, but now you have the opposite happening where kids come back and live with their parents, what does that tell but this? gerri: listen, i talk to financial advisers all the time. here's what they tell me all the time.
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the biggest mistake near retirees make is giving all their money to kids, retirement accounts, emergency savings, big mistake. they can borrow money for school, to buy the house, you shouldn't be paying for it. david: dan, there's a whole discussion here about what this means, not only about our economy but about our society where we used to think that our children would be better than us so that maybe they could take care of us, now it's gone the opposite direction. >> david, i think it's a comment on our economy and our society. the phenomenon we're describing here is the sort of thing that does indeed happen all the time in spain, italy and france. adult kids who can't get jobs or poor jobs, go to live with grandma, that has been true for decades in europe. and if the united states is beginning to have growth rates like those in europe between 0 and 2% chronically as we have had for the last seven years, you're going to see a lot more
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of this sort of thing because the economy simply isn't dynamic enough to create jobs that these kids normally would be employed with. gerri: good point. david: don't get me wrong, i love my kids, love it if they move in with me but i want them to be independent. >> that's not how the country works. david: dan, appreciate it. gerri: whether it's on wall street or main street here's who's making money today. adele, the british superstar want to the billboard album chart for a fourth straight week. "25" is the best selling album since the previous "21" in 2011. if you don't want the kids staying up until midnight on christmas eve, netflix out with ondemand countdown, parents can let kids ring in the new year any time they want. losing money, jet.com, if you ordered from the online
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retailer you might want to push back opening the presents. the company alerting customers as early as last week that jet can no longer confidently guarantee delivery by december 25th on items that aren't eligible for two day shipping. david: you can't do everything. earth may be the final frontier. spacex making history with delivery rocket when it nails the landing. gerri: nice.
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. gerri: mission accomplished for spacex. >> 3, 2, 1, 0. >> the company successfully launching a rocket into space and landing it back at cape canaveral. it is the first time an unmanned rocket pulled off such
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a feat. this follows an accident last summer when the launch failed. spacex is run by billionaire elon musk. david: it was the return that was extraordinary. hard to believe with temperatures like these we're just days away from christmas, and speaking of christmas, take a look at this. any hopes of a white christmas may be brought to an end with the potential for record highs on the east coast, maybe up to 70 in new york tomorrow. gerri: i don't mind that. david: unbelievable. gerri: the unseasonably warm weather has left retailers feeling cold about holiday shopping. retail forecasting firm estimates so far this season apparel specialty stores down over 400 million dollars in sales compared to last year. the largest weather related loss since way back in 1998. joining us the ceo fred fox. good to have you here. so i'm reading that boot sales down 20%.
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mufflers, hats, gloves down 20%. for goodness sakes, what do you make of this and is there something people are buying instead of not buying this season? >> absolutely. people this time of year are going to spend what they're going to spend. if you have $100, you're going to spend that on gifts, and if those gifts are not warm weathered goods or apparel, then you're buying toys. you're buying jewelry. you're buying electronics. so all those things are going to be up. the downside for most retailers is the other things that people are spending on do not have very high margins. gerri: right. so we're seeing here some of the things people are buying, they don't carry such a big price tag. who's getting killed? what retail sectors are getting hurt here? >> well, anyone heavily focused on soft lines, clothing.
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any of the specialty stores, any of the department stores are really hurting, especially at a heavyweight with stores in the east. the west is nice and cold with a lot of snow. gerri: well, as a consumer, i'm thinking this may be a great opportunity on the east coast to score goods at markdowns in januarying are am i right? >> yes, the story for the rest of this winter season is markdowns, markdowns and more markdowns. so there's going to be a really great buying opportunity for warm weather merchandise, especially in the early january time frame where you're going to see discounts anywhere from 50-70% off. gerri: take that to the mall i guess. fred, thank you so much for coming on and telling us about that. appreciate your time. >> thank you, you guys. david: then there is mr. bill belichick. he is the patriots head coach. known as one of the greatest in
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nfl history but also infamously known for not being so entertaining with his answers to the media and the press conferences they have after the game. since it's the holidays, our good friends at fox sports put together a kind of christmas carol that will make jets fans smile, not jets fans, but take a listen. ♪ have yourself a merry little christmas ♪ ♪ let your heart be light ♪ from now on our trouble will be out of sight ♪ ♪ and have yourself >> does he ever crack a smile in a press conference. david: i don't think i have ever seen him -- well, there's a little smile every now and again, just a little bit. i like that. a little choppy, but it's the only time you hear him sing. gerri: a new website offering to cut the price of pricey hotels, you have to bunk up
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with people you don't even know! >> what? get fast-acting, long-lasting relief from heartburn with it neutralizes stomach acid and is the only product that forms a protective barrier that helps keep stomach acid in the stomach where it belongs. for fast-acting, long-lasting relief. try gaviscon®. for fast-acting, long-lasting relief. whei just put in the namey, of my parents and my grandparents. and as soon as i did that, literally it was like you're getting 7, 9, 10, 15 leaves that are just popping up all over the place. yeah, it was amazing. just with a little bit of information, you can take leaps and bounds. it's an awesome experience. >>
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gerri: breaking news, new york police department said that reports of a credible threat to new york city are false, and commission irbratton had no intel briefing today. david: we're probably going to hear a lot of these, everyone is so edge. i got personal good news, it is christmastime. we had great christmas news last night that i have not seen my son in 3 years, he is a marine, based in okinawa, he called late last night, gunnery sergeant, said, we'll see him, he is coming in 15 minutes before midnight on christmas eve, with his wife, they will be here for about a
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week, we'll have a very merry christmas. gerri: that is so nice, lovely, a great holiday. david: we hope you have a great holiday, we'll be here tomorrow but we thought we would share with you, "risk & reward" starts right now. jo ling: welcome to "risk & reward" i am jo ling kent in for deirdre bolton, iraqi forces -- driving out militants from ramadi, welcome to the show. it will be second largest city after tikrit to be taken back from isis in 18 months, is this a turning point? kt mcfarland is joining us, ramadi fell to isis in a embarrassing defeat back in may, will they be able to take ramadi back? >> we'll see, i talked with a

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