tv Countdown to the Closing Bell With Liz Claman FOX Business December 31, 2015 3:00pm-4:01pm EST
trish: all right. we're going to continue following that story for you out of dubai. in the meantime, i just want to say happy new year, everyone. have a very happy and safe evening tonight. liz claman, over to you. liz: to you too. we have a towering inferno on our hands. breaking news, a tale of two skyscrapers. on your right, a massive blaze torching a hotel in dubai. middle easternty of dubai, the official fireworks are about to begin in just seconds. this is amazing, that it doesn't happen more often with all the fireworks globally, but at this hour that massive fire on the right part of your screen is engulfed at a 63-story skyscraper called the address hotel in downtown dubai. it is p sapping dubai's fire and police force. the blaze began just hours before the official new year's
fireworks display was set to start on the left part of your screen. of we're going to keep our eyes trained on both of these, because we're waiting to see if they will pull this off with such a drama occurring just, as i said, across the so-called plaza in that area. the fire raced up some 20 stories, torching a landmark hotel. clearly, more than 20 stories were engulfed. first official said nobody's injured. now reports at least 14 are hurt, but medics on the scene are saying 60 people hurt, some are burned, some have smoke inhalation, one person has had a heart attack trying to flee the scene. evacuations, apparently, are completed. but, again, the details are very sketchy right now. they are claiming, the officials, that it's 90% under control. it's important to note that some of the video on the right part of your screen is video that was taken just about an hour or two ago. so, again, they say that it's under control or nearly under control. but the cause at this hour is still unknown. there was question as to whether
this fire would scuttle those official fireworks displays in the dubai area of the building on the left-hand side of your screen. dubai's celebration fireworks, we are told, will go off as planned. so what we're going to do is keep that camera up here. this is a live picture on the left side of your screen. video on the right part of your screen of people fleeing the address hotel not too far from the abu dhabi building that is known as the tallest -- the dubai building that is known as the tallest skyscraper. i just stumbled and said abu dab but because they're also having their fireworks display in the united arab emirates, but the story is focused on what's happening in dubai. the economic center of the middle east, as many call it. you know what? let's take abu dhabi, because this is going off apparently without a hitch. breaking news right now, abu dhabi fireworks going off at this very moment. the world's attention on the
middle east. keep in mind gulf standard time, that's nine hours ahead, so it is midnight, midnight at this moment in abu dhabi. you sure that's abu dhabi? you can see the 2016 lights up and down that tall skyscraper there as countries all over the world ring in the new year. wall street counts down those final minutes of trade this year, but this picture, yep, it is dubai. i was correct, that does look like the budger khalifa. props to them they feel they can pull this fireworks scene off without a hitch considering that just under a mile or two away you have a hotel called the address that has been torched, absolutely torched. but at the moment it look like things are going off pretty well here at a time where, look, as if this didn't help the matter anyway, so much concern and a jittery global stage.
lots of worry about terrorism, about even perhaps accidents. we don't know what the cause of this is. but at the moment we are looking at that building that was engulfed in flames. you have to question how it's possible if this is a modern building that supposedly had fire details put into place, how it becomes a towering inferno and how it spreads so quickly. you know, were there sprinklers that were working? lots of details to pan out, but the good news is on the left part of your screen not too far from the fire, you have quite a beautiful fireworks display going off at the burg khalifa. sort of at that main moment, as you see. the surprise about the fire though is, again, we still don't have numbers on injuries, but many we're told are light injures from smoke inhalation, crowding the stairs while evacuating the building. one resident who has been quoted as staying on the 15th floor of
the tower told of absolute pandemonium as those inside realized the building was ablaze. when you have a 63-story building like that, you can imagine people jump into the stairwell ands start clogging them. look at the fireworks display on the left-hand side of your screen. that's epic as we see dubai is a tale of two skyscrapers in one city. the dow jones industrials down 124 point, but the nail biter should be focused on the s&p 500s which is trying to claw its way into the green for the year. the number to hit, 2059. we are not there. we're at 2050. so about 8.5 points away from that. we shall see if we can get it into the green. and, look, you know, you see people rushing and scrambling to get out just two to three hours before the actual stroke of midnight happened. very upsetting situation. crowds are gathering outside our
offices as well, huge in times square. it is a very, very crowded area. so we switch the camera on the right-hand side, toggle it over to times square. this is the area between i want to say about 47th street and 42nd street. so you've got the nasdaq, you got the heart of times square, all of the broadway theaters and 6,000 police officers, 500 counterterrorism officers, police snipers on rooftops and undercover police everywhere. just a sight to behold even on sixth avenue where fox business is just one block away. we saw police officers gathering, getting their final orders, orders to keep new york city safe where a million people will gather. all right, i just want to quickly say as we're going to turn to the markets for the moment, we're going to keep our eye trained on everything, we can assure you of that. one thing you cannot call this year at least from a stock market perspective is uneventful. traders at the new york stock exchange, the cme group and the
nymex, we're all working here. i'll start with you, keith bliss. looking at the year that was, quite a situation where we almost felt all this drama from china devaluing its currency to molotov cocktails being thrown in greece to, of course, you know, all kinds of problems with the currencies, etc. but it's kind of a flat market here. what do you expect for 2016? >> i expect more of the same, and i expect more volatility, more sure. i mean, when you take a look at the year 2015 was, and you rattled off a bunch of the events we had to deal with, i was kind of doing same thing this past week, writing down all the things. when you look at the year, we had six up months and six down months. and some of the down months including august which, as you know, was the big selloff and september right on the heels of it, were actually very dramatic. i actually don't -- there's a lot of prognosticators and forecasters saying we're going to get 8-10% of the s&p 500. right now looking out my window, i see more headwinds k4-8d keep us flat to down for 2016 than i
do anything that's going to make us up go up 10%. liz: we're keeping our cameras trained on the abu dhabi fireworks display, it has gone off pretty well. but on the right-hand side, the blaze that is engulfing the address hotel, also in abu dhabi. it's important to watch these things because they do scrollly affect the markets. let me go back to the months ago -- 12 months ago, america, when i was in davos, mid january, it was stunning to see that the swiss franc being allowed to trade, and i don't want to get wonky, being allowed to trade freely really affected the eurozone which we saw play out the rest of the year as a huge hot spot and problem. >> well, one other thing that everybody's missing out on is in the eurozone remember when mr. draghi pulled a quick one on everybody and instead of going for 25 basis points, he went for 10. and look what it did.
it shot the euro up over three cents in just the matter of a day's time. it gave the euro some strength again. but then we saw volkswagen, and volkswagen's going to come back and really haunt them a little bit longer than most people anticipate -- liz: wait, wait, wait, volkswagen's a bigger deal than molotov cocktails in greece in july and the swiss franc? >> not yet but, you know, again, that's a multi-country business. it is so large right now. it was the number one auto producer, so it's going to haunt germany for some time. as we know where germany stands in europe -- liz: okay. you know, can i bring in peter around hand owe from the nymex, because oil certainly is affected by anything that happens in the middle east, and you see what happened in the middle east to the right-hand side of your screen, you have the problem at the address hotel in dubai. that is, obviously, a very, very scary situation. no word yet, so we're not going to jump to the terrorism
conclusion, certainly, but we will jump to this conclusion. in the last couple of hours, peter, have you seen iranian president hassan rouhani's tweets? he went on a twitter flurry over the past two and a half hours saying we may very well create a new missile program just to show the united states what's going on. and, boom, oil started to move higher. can we just show a quick shot of the oil chart intraday. peter? >> we were up for most of the day, but at the very end when things started counting down, we pulled back pretty good. there really wasn't a lot of fear off what was coming out of his mouth today. but with us being at the lows for the year, you definitely have to keep an eye on it because anytime you have any geopolitical fears coming out of the middle east, you have to worry about it jumping back. liz: yeah. and west texas was really the shocker of the year, and it kind of was a double shock. it started off in the 30s and 40s in january, then it spiked to 60. spiked, not that much.
and then west texas continued down about 30% for the year. oil crashing, and that has affected the markets negatively, hasn't it, keith bliss? does that continue, or do we start to see some real bottom feeders, bottom pickers who come out and say, okay, now it's cheap enough? >> yeah, i'm not so sure about that because energy complex is really what's been driving the market even though it's become less and less of the s&p 500 from a market cap standpoint. this has been a real problem with the market. it's been counterintuitive the last three months where typically the equity market trades counter to oil prices, but it's not been that way. oil's been in that $30 channel, and the market's been moving up and down with it. i do want to make one point, you talk about the s&p 500 trying to get back positive for the year, i don't think we're going to get there. we have a massive sale imbalance on the new york stock exchange floor -- liz: hold on, that's news. just right now we ticked lore by two more points on the s&p to 2048. what do you mean? explain to our viewers what that
means. >> they're buying or selling, and they're getting the final tick of the day. it's called market on close programs. and we're able to see those balances as they roll in earlier in the day down here, and we're able to gauge and talk to clients and other people about what those balances look like. so right now we have a massive sale imbalance which means there's more sellers in the market for the final tick of the day than there are buyers. unless we get some people to offset those sell orders, you're going to see the market close lower as the specialists or the designated market makers take those prices lower. right now there's pressure on stocks into the close as it stands now. liz: okay, folks, keith's got the inside scoop there, a massive sell imbalance to the downside, so it looks like we won't see the s&p end in the positive. we've got 48 minutes left to see. gentlemen, happy new year. thank you to our traders. to all our traders all year long at the ready, we so appreciate that. as we continue to watch on the
left part of our screen, this is one long fireworks display. we're now 1 the minutes in -- 12 minutes in to the big fireworks display at the taller skyscraper on the planet in dubai. to the right, the fire, the blaze. flaming chunks of debris falling from the top of the address hotel. that's 63 stories. the blaze started about two and a half, three hours ago. and we're hearing different reports so, again, i stress we're not sure on the actual hard numbers, but 60 injured. officials say 14. i'm not believing them because they said it only went 20 stories. that doesn't look like 20 stories to me. look like that to you? looks much higher than that. but again, that's video. they say it's 90% under control. i want to bring in dan bonn gene know, well versed in all kinds of terror and concern, well versed in security as a u.s. secret service agent for presidents bush, clinton and obama. he's also a veteran of the nypd. dan, thank you for joining us.
as we superimpose what we're seeing on the right part of our screen with relative calm, certainly, and excitement in times square. what does a fire with unknown cause in the middle east like that do to the psychology of nypd right now? >> well, there's no question it's got them thinking. until we can find out what, you know, what caused this fire, was this some type of an incident, was it some type of a distraction, was it designed -- this is important -- was it designed, liz, to scoop up law enforcement and fire assets in one direction to create a potential incident or another, or was it just innocent? was it just someone who dropped a match on a rug? we don't know, and it's the uncertainty, i think, which government bothers -- bothers them the most right now. liz: i am so glad you brought that up. i've worked local news so many years, my kids are accusing me of being way too cynical. >> me too. liz: first thing i thought, dan, was you know what?
i betcha that if terrorists were smart, and we know they are, they would try and create a distraction. and be as you put it, soak up, soak up what you expect all the firefighters and police would be doing. and that's to be on the left-hand part of the screen, at the official fireworks display. >> right. i mean, in the secret service we have, we used to practice what we would call an aop, assault on principle exercise, that was modeled around the malcolm x shooting where what happened at one end of the rope line was malcolm x was working the crowd. someone created a distraction, everybody looked, but the shot came from the other direction. terrorists know this as well. if you can create a distraction in area a, take the resources from area b, area a is left -- liz: naked. >> exactly. next thing you know, the public is exposed where they shouldn't have been originally. i don't think you're wrong in thinking that's a potential possibility.
liz: well, brussels canceled its new year's eve official celebration. they had to. they had all kinds of intel that indicated there were more than what they had caught. they caught up to ten people, but, you know, dan, i want to let our viewers know, an accused isis supporter was arrested today for allegedly planning to commit an armed attack at a bar in rochester, new york. >> right. liz: so these evil people are going to not just for the obvios targets like a huge dubai skyscraper, but a little bar in rochester, new york? >> yeah. and this is the kind of stuff as a former agent and former police officer, the kind of stuff that really, you know, keeps me up at night, worries me. especially with regard to my children. you know, i'm armed. i'm allowed to carry a gun around the united states. i'm not necessarily worried about myself, but i worry about my family, and here's why. these rochester type attacks you just referred to, they leave almost no investigative bread crumbs for intelligence officials and police officers to pick up in advance. here's what i mean.
the 9/11 type attack you had people involved in flight training exercises, you had a lot of money changing hands -- liz: for a year, for a year. >> right. absolutely. they all leave contacts for intelligence officials to break up those plots in advance. for a small arms soft target attack to go and shoot up a deli or a restaurant in rochester, all you have to do is get someone stupid enough to do it and someone who can pull a trigger, that's it. there's no bread crumbs there. that's why these things are so dangerous. liz: and then there are threats on the capital of bangladesh. so it's all over the place that this group of losers, i hate to sound like donald trump, but, you know, isis manage to win when you get an entire city like brussels to cancel its display. we're going to keep this on the screen. dan, i don't know if you can stay with us, but i want to bring in deirdre bolton who rushed to paris right after the paris shootings, pulled off by isis sympathizers and groups of people like that, and as you
look at what's going on, dan was just saying, you never know what's at heart, what's at the soul of a fire anymore. you've got to figure -- >> you don't. and when this first broke, and i know you are on twitter as much or more than i am, and i was looking and they said, oh, maybe this was caused by somebody trying to set off fireworks, some of these pieces are still coming together. but as you just referenced paris, you know the city as well as i do, that really struck at the heart of the city in the sense of the areas that were hurt were very integrationist. that would be where young kids would go out. you would be sitting next to someone from africa, next to someone from eastern europe, next to a lifelong parisian. and that really upset, as you can imagine, even more so than average the french people. it was very much like new york after 9/11. and i'd say, you know, it was eerily quiet after, and the idea, of course, was scared and definal.
yes, i'm still going to go to the open air markets, yes, i'm still going to sit out on the terrace and have a coffee, but i know there's a risk. liz: we want to stress we are not sure of the cause of what happened. it could be something completely innocent, because a lot of people are doing dumb things on new year's eve. it does sap police and fire, creates a distraction. it appears dubai, which is about nine hours ahead of new york city, is having its celebration. that's good news, that's earnly good news. we've got a reporter who is in dubai right now. his name is marcus george, he works for grn. marcus, you're on the phone. what can you tell us that we don't already know? it's still very questionable what really happened here. >> reporter: yes. we've had this enormous fire going on very close to the burg khalifa, the iconic building in the downtown area of dubai, the largest in the world at the moment, and the luxury hotel,
the address hotel, tens of stories high which from about half past nine local time started emerging in flames. only in the last two hours, two and a half hours we've seen that fire grow and grow. it's now engulfing about two-thirds of the hotel. firefighters are there clearly, and they've been battling it, but still they have not got it under control. the latest we're hearing, there have been several small explosions going on in that hotel. no doubt as a result of the fire, the gases which have been released and the secondary explosions going on. so clearly a very serious situation. but as you have reported, as you've said yourself, this fireworks display going on. dubai is well known for its enormous, monumental fireworks displays. it wants to put itself on the world map. so just next door to this burning building is the burg
khalifa which is where this monumental fireworks display began. it snaked its way to another luxury hotel, you've no doubt seen that on tourist posters in the past. we have an extraordinary situation. but the good news is that we have nobody, no reports of fatalities so far. let's hope it stays that way. so far there are reports of dozens of light injuries but nothing serious so far. liz: yeah. you know, i would love to believe that. but it sure looks like there were some building code issues that were put into play when a fire can spread this quickly. they kept saying, oh, it only jumped 20 stories. you can just count with your eyes, folks, it's way higher than 20 stories. the entire building is 63 stories, and two-thirds of it looked like it had fire touching and lapping and licking at it. look, you know, life imitates art or hollywood, certainly, the towering inferno in the 'to 70s. who didn't see that movie where
steve mcqueen and you know, paul newman were trying to save this building, and they found that they hadn't connected the sprinklers. so you don't even know what building codes are in play in dubai. what happened there? so there's going to be a lot of aftermath and investigation as we look at this. but we can only hope that officials are correct in saying no fatalities at this hour. no fatalities. martin, when -- how, can you give us a sense of the distance between the burg khalifa and the address hotel? >> well, it's not far, i can tell you that much. i'm guessing, i've been using maps to have a look, and i'm guessing it's probably less than one kilometer away. so when you're talking about fires this size, that's quite significantly close. and i suspect it's actually quite a lot shorter than that. so between 500 to meters and a kilometer away, i think. so we are talking a serious situation on the ground. as i say, they still haven't got it under control.
there have been a lot of evacuations around the street. you have a massive boulevard all the way around the burg khalifa, very wide boulevard. it's beautiful. honestly, when it was finished, it was an amazing complex this has all been -- a few hours ago it was filled up with people going off to watch and celebrate the fireworks in the area. it was evacuated very soon after that. and so you have this ironic moment where you have the firework displays going on but nobody there to watch them. effectively, it's for the tv cameras only. unfortunately for dubai, they're getting the wrong picture, because it's not just a fireworks display, it's a very large hotel burning at the same time. liz: hey, i've got this from a middle eastern newspaper, i believe, they say that at least one occupant gives an eyewitness account that the explosions possibly came from a gas cylinder at a restaurant, a possible -- >> yeah. well -- [inaudible]
yeah, well, that sounds very probable. in all honesty, it's very difficult at this stage to know what's going on. i mean, i think basically you're in a situation, this is a city with some 400 or so very tall towers, residential, office. so there are many, many buildings like this not quite as prestigious as the address hotel which is very concerning in itself because of just how prestigious it is. but just in this year or, rather, last year, i should say, 2015 -- liz: yeah. >> in february you basically had a situation whereby another building called the dubai torch tower was lit up for several hours when a fire burnt through that for, yeah, several hours. and about 30 or 40 floors or were engulfed in flames. again, fortunately, nobody was ininjured in that one, and it's quite extraordinary. and i think the fire in that one
was through the ventilation shaft, and so it didn't actually spread throughout rooms and throughout suites whereas we're seeing from the pictures from the address hotel, it seems very apparent that this is a fire which is spreading across the entire hotel. liz: yeah. that's very, very obvious. i think so. martin, thank you very much. to the left of your screen, it now looks 25 minutes into 2016 that dubai's fireworks display has, indeed, finished and completed without incident. and so that's excellent news certainly. but, boy, when there's a lot of oil money, you certainly have a lot of fireworks. that's 20 minutes, deirdre, we saw that very dramatic fireworks display. again, the fire on the right-hand side, huge question marks are going up with that smoke. >> and, liz, you mentioned it. i mean, already in brussels, the center of belgium, they actually called off new year's eve, the fireworks celebrations there. you mentioned it. and from some of the sources that we both -- i mean, two
million people are expected to be, as you rightly point out, on the left side of the screen celebrating normally. but hen, yeah, you do -- but then, yeah, you do see this fire ranging supposedly from the 20th floor up. liz: 20th floor up and, again, everyone is nervous. you have to believe that the entire region is worried, concerned and jittery because of all that's been happening with isis, san bernardino, paris where you went right for the aftermath of the horrific shootingsing that murdered 130 -- shootings that murdered 130 people. >> indeed, liz. anytime when there is a big group of people, turkey calling off a celebration in ankara because of a real and credible threat. belgium, getting back to brussels, in seven raids the past few nights detaining ten people that they say were in some way connected to that isis attack in paris. and, of course, france, worth noting, still on emergency state. that is to say until the end of february, the police can
essentially go into any home at any time for any reason. they don't need a warrant. and that just underlines what you said, liz, about this high anxiety especially when it comes to big groups of people where millions are expected to gather as we mentioned in dubai. two million people estimated to be there in the center of the city to ring in the new year. so brussels canceled, ankara canceled, here in new york you and i have spoken to many people over the past few days saying, listen, nypd is on the highest alert possible. liz: yeah. thank you so much, deirdre bolton, we appreciate it. happy new year to you. and as we just keep our eyes on what's going on in dubai, i do want to just mention that oil behaved very bizarrely starting about three and a half hours ago. you could leave it to the iranians to try and ruin new year's eve. iran's president, hassan rouhani, decided to kind of pull a donald trump n. the last two or three hours he started
tweeting up a storm. honestly, here's one that jumped out at us. in response to new u.s. sanctions, this is his quote, in response to new u.s. sanctions planned against iran's ballistic missile program, we have ordered the defense minister to expedite the program. to expedite the program. what are they saying? they are threatening, after the u.s. said, wait a minute, you guys are doing missile testing? that's in complete violation of the u.n. security council orders to let you develop your nuclear program. so what did you see? shortly around noon you saw the spike in oil. it went as high as about $37.80, now it's at $37.06, but higher than it started the day. it's far from oil in commodities, soybeans. don't let your eyes glaze over, but this is hitting u.s. investors hard in the opposite direction. jeff flock live at the cme to tell us how soybeans are impacting traders and everyday
americans. jeff? >> reporter: well, it's not so much the futures, liz, as it is the spot market because of the flooding down along the mississippi river. this is tremendous flooding. i covered the all-time record flooding back in 1993 along the mississippi, and this is rivaling it now. we've got a 5-mile stretch of the river shut down, that means no barmings, that means no commodities moving, and that's a whole host of commodities. chief among these is soybeans. we've seen a 70-cent premium on the price of soybeans in the spot market so our own disasters here at home having an impact on soybeans which i know a lot of people don't care about soybeans, except it's in pretty much everything. liz: boy, those guys leave early, don't they? >> reporter: confetti, can you see it back there? oh, they had a good time before they left. liz: yeah, leaving quite the mess. jeff, happy new year. thank you so much. >> reporter: happy new year, liz. liz: jeff flock. let's take a quick look at the
markets. with about 30 minutes left of trade in 2015, 2059 is the level we need to see in the s&p. we're ten points below that right now. s&p at 2049, the nasdaq down 43 or down about a percent or, but the nasdaq is up 7% for the year. russell 2000 small caps down six points. i've heard very smart people like dan veru say small caps will be the place to make money in 2014. transimportants down double ding -- transports down double digits for the year. let's go back to recap what's happening in dubai. of the address hotel, 63-story skyscraper hotel had a fire begin on the 20th floor. no word on the exact cause, but at least one eye witness saying maybe it was a gas canister that
blew up in a restaurant there. sheer panic was the description we had of people rushing to the left side of the building away from the right side where all the flames were coming up. apparently we're getting different reports from 14 injuries to 16 injuries. everything from smoke inhalation, to one man with a heart attack who panicked as tried to get away. howard safir, former new york fire department commissioner. commissioner, great to have you on the phone. i so appreciate this. i didn't mean to interrupt your new year's eve, but when you see
something like what is your first thought? >> the first thought when i saw the volume of flames this would be a disaster but then i remembered this building was built in 2008 and after 9/11, the kind of construction was done in high-rises specially places like dubai involved a lot of fireproof material on the interior. special elevators for firefighters. pressure surized staircases for evacuation. and i know the dubai fire department is well-equipped and well-trained. there have been lots of evacuation drills done in this particular building. i actually was in that building a number of years ago when i was in dubai, not there for looking at fire safety but i remember it was a very modern, well-constructed building. liz: that is with we were wondering because it look like it spread quickly. they said it spread to 20 floors. to my untrained eye looked more
than 40, 50 fires. fireproof materials would not see it spread on outside which is what we're looking at earlier. >> the dubai fire department is reporting that it is 90% under control. liz: do you believe that. >> and that it did not spread to the interior of the building. awe i can take them of their word on internet but appears that way. the evacuation process detail worked well in fact it is not uncommon when you're evacuating hundreds or thousands of people there are minor injuries. liz: not a surprise, they were saying, there were reports, i don't know if you heard this, massive crush in the stairwells which would not be a surprise. we remember that report frogs 9/11 and world trade center towers. just a horrible thought for anybody who is claustrophobic certainly. but when you talk about new fire regulations post-9/11, can you articulate what they might be?
would there be alarms on every floor, sprinklers every x number of feet? >> not only sprinklers but redundant sprinkler systems if one failed there would be another put in place. dedicated elevator for the fire department contained in a concrete shaft so that fire in the building wouldn't affect it, so firefighters can get to a higher floor. the stairwells would be number one, they would be wider, in new building. they would be positive pressurized, which means air is being blown into there on regular basis so a fire wouldn't flash over into the stairwells and cause smoke inhalation or death t would be places of refuge that were contributed so that people could wait out the fire with special ventilation. i don't know if all of these things are in the building but it would not surprise me.
liz: i wonder how you put out a fire in a 63-story building. fire department crains and trucks don't reach that high. what do you do, just wait? >> fire department ladder trucks don't put out fires. they are used primarily for rescues. not putting out fires. in high-rise building every high-rise fire taken place the last 50 years has been put out by the building sprinkler systems. liz: from what you can see from the pictures are the sprinkler systems working? >> it appears to me coming from interior of the building, i assume anything on the inside the sprinkler system would put it out. the way i see on tv, if you look at right side of the building, was totally engulfed in flames, not only 3/4 of the building there are no flames. liz: commissioner, before we let
you go we know nypd is business any in times square. what is nyfd doing? are they couple blocks away? >> there are 17 of firehouses in the -- 176 firehouses in the city. they were some firehouses, they were designed where a horse could get there in five minutes. the fire response is four minutes in most places in the city. they can just get about everywhere. they're on special alert. their hazmat material group is on special alert. i'm sure that you know, emergency medical service is now part of the fire department, we merged them with the fire commissioner. there are ambulances staged all around times square ready to respond if there it is necessary for any kind of mass emergency. the good news we have best response emergency departments in the world in new york city
and the nypd has done this often and will continue to do it well. the fire department is very, in case of any emergency whether there is fire or medical emergency. liz: new york's finest, new york's bravest together. thank you so much. commissioner howard safir, former new york fire department commissioner. happy new year, thank you so much for getting on phone and let our viewers understand what is going on here. we so appreciate it. >> glad to be with you. liz: terror is the topic that not only dominated our thoughts in advance of new year's eve but really dominated lately the 2016 race for the presidency. let's bring in richard goodstein, democratic strategist. along with adam good man, republican strategist and principle at victory financial group. richard, i begin with you. again we stress this dubai fire, the cause is still questionable. we don't know whether it is anything related at all to terrorism but terrorism sure has put people on alert, especially the candidates who know this is
what matters to potential voters, correct? >> for sure. look, we've seen everything in the polls since paris, since san bernardino, that point in the direction of people kind of frankly reacting to fear more so than candidates plat forms or position papers or frankly the truth or honesty. which is kind of uncharted territory. we're not used to having presidential campaigns where things like kind of policy positions and truth matter. they seem not to matter because people are so fearful. again, i hope we don't let terrorism enter into the discussion of this. turns out in fact to be a gas tank that kind of blew, but, yeah, you can't resist having that association. it looks so much like what we saw on 9/11. liz: it does look like that.
i think you're cautious to talk about this. those of us worked in local news we stressed the husband did it, or when we show up to a fire. donald trump makes dramatic statement, we'll get these guys, we'll ban muslims. maybe conversely ben carson is being really hurt by that in the last couple of hours he had exodus. two of his top aide, we have his campaign manager, barry bennett and his communications manager doug watts saying sayonara, we're leaving. ben, it has been nice working for you but we're done. do you think it has something to do now with the fact that he appears he is less than strong candidate? >> it could be. liz, almost like in ben carson's case, blaming a nurse in e.r. for a poor decision. never a good sign of a major staff shake-up and make it public. i think if you go back at word
pop aized by harry truman, buck stops here. you hear ben carson saying don't blame me. involved directly in over 175 political campaigns, the heat of battle is intense. the measure of candidates, usually difference between winning and losing comes down how they handle heat in the kitchen when it gets hot and firm, unwaiverring when it gets tough. not good time for ben carson. he sees his numbers falling. accept responsibility a wake-up, call, move differently i think that is the way he should be traveling communicating as opposed five weeks out in iowa saying i'm in trouble. liz: i heard republican voters say hillary clinton looks stronger than ben carson. look, we were expecting another tranche of emails that were questionable to be released next hour.
questions whether that will even happen in regards to what she put put out there wasn't protected. what is perception of hillary clinton when it comes to battling terrorism? >> honestly that is one of the big issues in the general election campaign. i mean hillary clinton i think to certainly her supporters or people on the fence when they see her in one of these debates, i think she looks as somebody who is fairly formidable, can travel the world, knows cast of characters. it has been eight years by her husband's side within the senate, secretary of state. somebody who frankly would enter white house as being uncommonly familiar with these world issues. then obviously you have somebody like donald trump or others, even ted cruz or marco rubio, who are coming into this either with no experience like trump or minimal senate experience like cruz and rubio. we thought all along, when it comes up to election time, caucus, primaries people will
stop listening to bluster and say who do i want behind the desk in oval office, especially events, terrorist righted or otherwise, make people focus hard. i think clinton people tell you that works to her favor. her detractors would sayings look how the world is blowing up, she will take that chance given the opportunity. liz: adam, before we go, jeb bush, this was supposed to be the year or last quarter to jeb sort of make it happen but chris christie, governor of new jersey, seems to be a taller spine at this point in some people but maybe in february things tend to change in election years, do they night? >> you will at time. which gives us ulcers who work in the business. liz: i know. >> three things to watch for, liz, very quickly, thee things to touch wore in new hampshire is trump starting to establish is for real? is cruz still cruising out of possibly a win out of iowa? third thing in, most importantly to jeb bush and others who occupies the establishment lane
in battle of new hampshire, between jeb, chris christie, kasich and rubio. for that lane may be more important than trump possibly carrying the granite state. liz: goodman and goodstein, thank you very much. >> happy new year. liz: happy new year. we'll keep fire pictures up. we're waiting for information about this. but a little fire going on in the market as well. dow jones industrials has been down triple digits all day long. we continue to see the dow lose 122 points t would take us 300 plus points to where we need to be today, this last trading day of the session to put dow into green for the year. not going to happen most likely. the number to have beaten was 17,823. we're 11,479. s&p, also a stretch. would you see another nine-point jump in last 17 minutes? unlikely. we've seen bigger things happen in the moment.
2059 is the number to beat. we're at 2050 on the final trading day of the session. oil again near 11-year lows. started to do jump on the fact iranian president decided i will be like kim kardashian, jump on twitter and spike certain things. say per rattling comments. oil jumped 1.25% but still down of the highs for session and down 41% for light sweet crude. back to developing situation of high-rise in dubai engulfed in flames. by the way this is tape. this is pictures from earlier when the entire right half of the building was getting sucked up into flames. we still don't know what caused. but let's bring in the former new jersey law enforcement and worked at ground zero. you helped manage the department's response to september 11th attacks. response is very important but
always, on a night like this, jose, where you need fire and police on the scene of a major event which is just across the plaza from this hotel. yet they all had to be redirected to the fire. how do you handle something like >> security arrangements that are or were already in place, when you have emergency response to handle celebrations or in the event something unusual happens. i'm sure part of the planning for dubai year-end celebrations were a rapid response team already in place. so i think, this is all pretty much built into the responses. certainly complicates security but it's pretty much built in, at least you would think it would be. liz: dan bonjean know, former secret service, had been on at
top of the show, he made a excellent point. terrorists are smart. they don't go for obvious. they go for three restaurants on side streets in paris and do more damage and cause more fear than going to scene of a gigantic event although hit the concert back in paris which took some lives but it is too obvious to go for something like times square by the way looks like it is under control by nypd? i don't know if we can quickly dip into that shot. as crowds go into the area, keeping it under control, keeping certain roadways center lower part of your screen and then to the right -- by the way, those that don't know new york. you have split of 7th avenue and broadway. easily the busiest two streets in the world, maybe piccadilly circus, i don't know in london. they're keeping this available for lots of movement for fire and police. to me, i think to myself, 6,000
police are there, but terrorists might go for less obvious location. >> that is absolutely correct. part of what seems to go on now, the aim of terrorism is to, is to cause and generate fear. and, quite frankly, whether they strike in large event or strike multiple times, former soft targets, they sort of generate the same type of response. they cause fear. you know, certainly the topic of the country, quickly changes to security. and so, you know, they get pretty much achieve their objective. but striking a place as symbolic as luxury hotel in dubai or times square in new york, certainly would be a feather in their cap and would show their capability to conduct mass attacks, in areas that presumably well-protected. these are well-protected. liz: this is how bad the fire got.
flaming chunks of debris began raining down from 63 stories up. that in of itself a huge danger, folks, huge danger. we just had commissioner, former fire department commissioner of new york, that is one tough job, howard safir, he said he had been in this building a couple years ago. because it was built post-9/11 where global regulations were put into place, what you do, you tend to build buildings where you can keep the fire located to the exterior, versus the interior. still no word on any fatalities. if we believe what officials say there were no fatalities although at least one heart attack and possibly many as 60 injuries, that is actually pretty good for a 64-story building. you can see the camera that tilts left to what was the site of the official fireworks. that's, that's the tallest skyscraper, the budger khalifa
khalifa -- burj khalifa, that was -- you talk about fire being put out, you have to worry about terrorism around the world. what is the number one thing we all need to be doing right now not to become victims? is it the old see something say something? >> especially in this day and age, the idea that we're, we see something suspicious -- [inaudible]. political correctness and some other stuff. reality is that you know, to keep us safe, be part of the solution, not part of the problem. if we see something, give the authorities let them figure out whether what you're see something they need to be concerned about or not. liz: jose, thank you. i wish you a good new year's eve, thank you. >> happy new year to you. liz: as we look for all kinds of information on what is coming up sometimes, not always, but sometimes you get faster information through social media
about a disaster such as this. we want to bring in jim anderson. social flow ceo. he is a real expert when it comes to social media. social media world is lit up with hashtags about the fire right there. jim, what are you seeing on social media on this? >> seeing a lot of information on real time. literally looking at twitter feed. every few seconds there is new feed popping up. there is a lot of concern about number of victims and their status, a lot of conflicting information, of course what you see in situation like this. there is a lot of debate wisdom going on with the fireworks show. on one hand being insensitive given fact there is significant fire going on. on other hand, thought, wow do you really want to leave a couple of tons of fireworks strapped to a building when there a fire going on.
very chaotic, a lot of information and a pictures and a lot of video. liz: you made an excellent point. i don't know why people put huge fireworks displays on tall skyscrapers, if one thing goes wrong, we've seen barges blow up out on river. i covered them in boston and cleveland and cuyahoga county river. this can be very dangerous thing, can it not? when you look at social media, are you seeing things like terrorism trending? that seems initial knee-jerk thought, this where we are, sure, that is what happens? >> interesting that was not predominant theme of the tweets, which i read 100 tweets and scanned through, there was not a lot of talk of terrorism in the tweets. much more in the moment urgent prayers and thoughts for victims i happen to be in the city and safe on other side with my
friend and family is the tweets i saw. i suspect speculation about cause of this whether terrorism was involved comes later. in the moment seems to be much more focused on what is happening. liz: that's a great point. that is how people let family and loved ones know they're in play. we saw that on facebook certainly in paris. gearing up in eight minutes, moscow is next. moscow fireworks go off at top of the hour. we'll have cameras there. oh, it will go off in three minutes. i'm told at 55 minutes after the hour. we're at 52:21. in less than three minutes we'll see that at the moment. we have our cameras there too we hope. no credible threats in moscow what we've heard lately. jim, social media has been certainly hot and cold area for the stock market. i can't let you go without getting your last thought on this twitter was big stock
disappointment certainly but what happens in 2016? >> everybody is chasing facebook right now. that is clearly the dominant player in terms of social media. their biggest play is into video. facebook many ways is starting to look like youtube. twitter has disappointed analysts and major factor and major force especially things in breaking news with the hotel fire. certainly political campaigns as well. i think too early to say twitter is not going to be able to continue to be relevant but everybody including twitter right now is chasing facebook. liz: everybody thought donald trump was to be star of social media this year but it was two other groups, kardashians and due guards? >> we analyzed tweets and saw trump was in category but to fall behind kardashians and
duggars, he was at least number three behind those two groups. liz: is there a new one emerging in the next year that trumps things like instagram and who knows what else? twitter seemed to be ownership there but not perhaps in 2016. >> yay the two that come up the most often are pinterest by of course is very popular in its on right and snapchat and very popular among younger millenials as well. so those are the two i think you end up hearing most news about in terms of up-and-coming emerging social networks in 2016. liz: will pinterest go public? >> that is a great question. most of the social networks focus first and foremost on user growth and metrics around there. the theory if you get a passionate group of users who come back to use your product every day, then you will position yourself very well for something like a public offering. liz: people are actually making entire careers out of instagram. the fat jewish. he is unbelievable that guy.
got a book deal. probably al movie deal. katie couric interviewing him. i interviewed him. i got all geeked up. my kids think he is hilarious. making careers using somebody else's social network is absolutely fascinating. that is where the kardashians are geniuses. glue mobile, kim kardashian did game on glu mobile an she monetized it. >> you go where the people are. trying to sell something or be commercial success, first and simple rule is go where people are. people are on facebook, instagram, twitter, an snapchat. those are big trends for 2016 i keep an eye on, we're already glued to our mobile devices. just walk down the street, you see that that trend will continue in 2016. liz: great to see you, jim thank you very much. we appreciate you coming on. jim anderson. >> thank you.
liz: social flow. he is the guy to go to what exactly people are talking about. they're talking about the fire and talking about what is about to happen in moscow. take a look at live pictures. we're waiting moscow's fireworks. it is about to kick off. look at that shot. look at than believable shot, about to kick off in red square as clock. looks like disney world building. it is unbelieverrable. as soon as fireworks take off. keep it up on the screen, they're about to go. let's bring in steve dudash a few seconds left. make it four minutes to go, doesn't look like s&p will make it. spin it forward. what do you like for 2016 to give us great start in the first quarter. which stocks in the first three months of the year might do well? >> okay. first three months of the year, look at two main companies.
you could look at google. you could look at, well, all right, let's start with google. go with google. you can get an extra pop out of them. they have been doing really well. the fact they changed their name and had one of the most established names out there and they are still willing to change it to diversify their company and get into a lot of different areas like automotive, self-driving cars and things, that is big step for company like that. we love them going into next year. love bp going into next year. i know energy is beat up. no way oil is going down to $20 a barrel. buy into it now. getting it super cheap. let it grow. maybe it doesn't have happen in first quarter, may take more months than the first quarter, great opportunity to get in at low price. from there you go into the amazons. if you are willing to have guts to buy into something that is expensive. i would not buy amazon and hold it for next 20 years. you're paying premium right now. unlike bp you can buy and hold it right now.
amazon paying a premium. hard to argue what they're doing. they're killing market. number one player. like you were talking about, so easy to do things on your phone and tablets. it is safe now, relatively safe. very easy to make purchases on the phones. great opportunity to buy into company. liz: right now maybe opportunity to buy into the dow because it is cheap. down 159 points as we go final couple of minutes. down just under a percent, folks. don't look at this moment like s&p will make it into the green. people actually, recently as yesterday afternoon thought they would. we're at 2046. that is not going to get us to 2059. into the going to get us there. steve, give us a final word what you think is real number one trend for 2016? >> number one trend? oh, energy is coming back. energy is down so bad. by the way one more real quick stock to throw out there i didn't mention before, buy chipolte.
we were telling people to sell it when above 500 and 560 a few weeks ago. it has been beat up. wait another week or two. make sure e.coli thing is really gone. buy into a great company really cheap right now, in 480 range or whatever. trends for next year. energy, technology, financials. can go on and on about financials right now. supposed to be the big three. liz: when fed raises rates financials tend to do well. i like chipolte idea, go in when fear is greatest and norovirus is greatest. >> agree completely. take care, liz. liz: happy new year. as we continue keep our cameras trained on moscow for a moment, seconds away from that new year's eve celebration. appears what we're hearing out of dubai the fire is just closest to being contained. let me send it to melissa and david. they will take it from here to give you the latest. david: still a very volatile situation over there. thank you very much, liz. happy new year.
fire and fireworks, one of the most bizarre things in history of new year's celebrations in dubai tonight. it is incredible. melissa: bizarre. david: massive fire raging engulfing a luxury hotel while at the same time spectacular new year's eve fireworks display goes on for attention ever a million on lookers. quickly we take you to the fire. we want to get a clue what is happening. was not looking good towards end of the session. dow looks down 180 points. [closing bell rings] only that is up is oil. this is one of rare days when oil is up, market is down. that is not good for stocks. as liz said we knew dow jones industrials will be down for the year. appears s&p will be down as well. melissa: we'll get back to markets in just a bit. first breaking news in dubai. a massive fire engulfing one side of a luxury hotel and apartment building. the address hotel just hours before the