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tv   After the Bell  FOX Business  January 6, 2016 4:00pm-5:01pm EST

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troubling new evidence of decline of american dream. more than half of all americans have no savings in place to cover an emergency like medical bill or car repair. melissa: first to another big selloff on wall street. [closing bell rings] dow down 250 points. on track to end under seventeen thousand for first time since october. as closing bell sounds on wall street. we're down 24points. s&p 500 -- 247 points. nasdaq down almost 1.2%. look at crude oil, david. david: 5 1/2% decline on crude oil. that led to markets down. 29 out of 30 dow stocks in the red. walmart the only one moving higher. we have lost more than 500 points on the dow. lori rothman standing by at new york stock exchange, what was driving today's selloff? >> as you know, david and melissa, negative sentiment
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started first thing this morning with news out of north korea that they successfully tested a hydrogen bomb. and then the fed was cautious raising interest rates pointing to no inflation in the economy and very little in fact. selling accelerated at that point. despite the 1% declines of market it is off the worst less of the session. oil main culprit. i know you will talk about that through the hour. crude hammered the energy sector on wall street. off 4% when all said and done. dow will close down 250, below the key psychological mark of 17,000. vix down 7%, stablizing at 20.4. it was risk-off today. they fled into perceived security of government treasurys. gold was up 15 bucks an ounce as well. you mentioned walmart, biggest loser last year, down 30%. that's where investors flocked to today.
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up 1% in the session on walmart. back to you. david: safety of walmart. lori rothman, thank you very much. melissa. melissa: ending the day down 5.6%, look at that. 33.97 a barrel. this is the lowest settlement in seven years. despite a big drop in weekly inventories oil driven down in large part by huge surprise build in gasoline stocks, david. david: on terrible down day like this good to talk to long-term optimist. that is exactly what art laffer russ has been at least i've known him that is long while. art, what is going on in the markets right now? >> it's a bad, bad day. this isn't the long-run economy. the u.s. economy will be rotten for the next year as we finish out the obama administration. then you start seeing some wonderful stuff happening in 2017. you will see a new president come and take office. i think it will be one of the republicans running. they have all got great
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policies. we have the house, senate. i think you will see a reagan era for next 15, 20 years after 2016. i'm really excited. david: all republicans want to lower taxes. >> everyone of them. david: ben carson has terrific new tax plan. we'll talk about that but hillary clinton wants to raise taxes. she is not like her husband bill. >> no, she is not. david: more like president obama than bills correct? >> that's correct. she is not. that's why i think her day has passed. she is very fine person. let me make that clear, david. she has a great resume', very smart. david: cut to the chase. >> but her policies are awful. they're awful for the time. she and bernie sanders are trying to corner bad answers for everything in the earth. they don't stand a chance being elected i don't think. david: hold on a second. assume for a moment if she is, what happens if her tax raising policies go into effect is the economy doomed?
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>> yes, it is. i don't think that is what is going to happen. if billy bob takes over the economy i think it will be a bad one. david: would bill -- remember bill not only reduced taxes on capital gains to great effect for economy, he also cut welfare and made it much more of a work fare policy which did good things for economy. he era of big government is over. will he have any effect you voted for the guy. >> i voted for him twice. david: is he going to have any effect on hillary? so far at least in the campaign he hasn't? >> no, i don't think he is. do remember, bill clinton cut government spending by next four peacetime presidents combined. he pushed nafta through congress against his own party, against unions. bill clinton was great free market, pro-growth president. very entertaining. hillary clinton is exact opposite.
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awful policies. she may be a competent person. i don't think it what will happen if she gets elected because she will not get elected. david: 14.9% on flat tax on individuals and on corporations. first year, zero on corporations in order to bring the trillions of capital back into the country. would that work, quickly? >> of course. it will work beautifully. this is exactly what jerry brown proposed in 1992. ben carson has the total complete flat tax there. it would work wonderfully. if you look at it half candidates have something very much -- ted cruz has phenomenal plan. so does rand paul. you look at all candidates. jeb bush has a good one, donald trump. all of these guys are competing to run to get the finest best plans available. >> gotcha. >> they are going to win. when that happens, hold on to your seatbelt, it will be a rocket ship into outer space. david: what do i tell you, eternal optimist. melissa: he is. >> it is true, david. it is.
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david: great to see you, art. appreciate it. melissa: north korea testing its most dangerous weapon to date. the country celebrating what is calls a successful of a hydrogen bomb. peter barnes in d.c. with latest. peter? reporter: melissa they say north korea tested a device last night but initial analysis indicates it was not an h-bomb. >> the initial analysis of events reported overnight is not consistent with north korean claims of a successful hydrogen bomb test. there is nothing that's occurred in the last 24 hours that caused the united states government to change our assessment of north korea's technical and military capabilities. reporter: reports from the region suggest the test was consistently smaller than a regular nuclear test, let alone an h-bomb test. it was the fourth time north korea has explode ad nuclear device. it prompted an emergency meeting today of the u.n. security council.
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the security council said it will begin working immediately on significant new measures in response to the test which could mean an expansion of sanctions against pyongyang. observers are expecting north korea to test another nuclear device. north korea's assertion it explode ad hydrogen device, much more powerful than a plutonium bomb, was a surprise. melissa? melissa: peter that very much. here to weigh in, peter wallis and jeanine turner. jim, let me start with you. what is reaction to this news. >> north korean nuclear tests are a lot like death, everyone expects it but you're surprised when it happens. we had a lot of talk past several months particularly in october there would be a test. it didn't happen. now it does, we're surprised. i agree with the assessment it is unlikely to be hydrogen bomb.
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i don't think this is game-changer. has a lot of negative political consequences but not a national security game-changer. melissa: talk about the political consequences. gillian, what is the world's response? what do we do? >> u.n. security council held a vote produced unanimous condemn nation of the test. this is really interesting because it's a very rare vote of solidarity. among a bunch of u.n. countries for most part these days can't agree on anything, whether iran nuclear deal or threat posed by isis or how to solve civil wars in syria and yemen. melissa: yeah. jim what do you think is the right response? because it seems like this is the situation where north korea isn't getting attention they want lately. they saw sanctions lifted on iran, something they would need and like. other bad guys all around the world getting all kinds of attention. seems like they will continue their aggression and amplify it until someone responds.
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it is not a good situation. >> options are limited here. we can impose more sanctions but those sanctions din stop the last four tests. let's face it, we're dealing deg with a problem of geography. north korea, who does it share a border with? china. as you and dave were talking about china. it is all about economic growth. in globalized economy it is easy for north korea to evade sanctions when it is sitting next to the biggest economy in the world. that is not a very good option. military force will not solve the problem so it is tough. melissa: let me move on to another story, terrifying are terrifying story. new footage inside the isis tech lab. did you know there was such a thing. construction and testing of new deadly weapons, car bombs driven by mannequins, heat-seeking missiles in video obtained by sky news. gillian, let me start with you, this video we understand it is not propraganda. it is training video. they have basically a bomb of had making college in raqqa. for people, terrorists and
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terror trainers who can't travel there, they're making videos like this and sending them to other places likes europe. so they can learn to make advanced explosives with materials they have in front of them. how scary is this? how different is it from what we've seen in the past? what do you think, gillian? >> it is very scary from counterterrorism perspective. the good news it is very unlikely the united states intelligence community did not know about this prior to today. i understand it comes as a shock to the american public and rightly so, but i think this is part of the explanation as to why in recent months we've seen the u.s. government and u.s. military renew their focus on targeting isis infrastructure. it is trying to hit their financing so we can get at problems like this. like the infrastructure. and something else i would point out for viewers that is really important is, from this eight hours of video footage, fox news
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now has we see that these trainers are coming not only from the middle east but african countries like tunisia, somalia, sudan, all across the continent. africa is really poised to become the next hotbed of terrorist activity. melissa: jim, it shows that isis can recommission thousands of missiles previously thought unusable. they can target passenger and military aircraft. you see faces of people in the video. i watched the whole thing. faces of trippers there. they're not trying to disguise themselves at all. they're giving instructions. really shows how they have evolved and developed. we also know this is going on in raqqa. doesn't it say that we have no choice but to go in and level raqqa? >> i think we want to check how many civilians are living there but it's a challenge. reason why it is unprecedented is because, isil or isis represents a hybrid. before we have had non-state actors. these were little groups with no affiliation. we either battled governments
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like saddam hussein or non-state actors. they're in between. they're a terrorist group trying to set up a country that gets oil for revenue. melissa: right. >> when they have those sorts of resources then they have money to spend on labs and research. melissa: jim, you say kind of a throwaway, you want to see how many civilians are living there but talking about sending these bomb-makers out into europe places where there are lots of civilians. i understand we need to say to go in attack the area civilians there, but they're targeting civilians everywhere else. becoming something, it has been very complicated. gets more complicated. thanks to both of you, we appreciate it. david: we wouldn't hit a oil convoy, isis oil convoy because civilians driving trucks. it is insane. sometimes civilians die in war and we are at war. presidential candidates weighing in what should be done to keep america safe in face of new threats from north korea, iran and isis. coming up rand paul telling us how he would handle north korea
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and how he is gearing up for very tough fight in iowa and new hampshire. melissa: did you see this? daily news calling republicans party of death for criticizing president obama's gun control plans. our panel will weigh in on this one. david: california slammed by record rainfall and mudslides. closed some streets. we're tracking this daily storm -- dangerous storm as it moves east. i know you're my financial advisor, but are you gonna bring up that stock again? well you need to think about selling some of it. my dad gave me those shares, you know. he ran that company. i get it. but you know i think you own too much. gotta manage your risk. and you've gotta switch to decaf. an honest opinion, even if you disagree. with 13,000 financial advisors, it's how edward jones makes sense of investing.
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>> the while the u.s. works to keep nuclear weapons out of iran's hands a dangerous situation may have been brewing in another regime. north korea's claims it tested a hydrogen bomb have not been verified but presidential candidates are not waiting to call for action. i asked presidential candidate rand paul how he thinks the u.s. should stop the regime from building nuclear capabilities.
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>> we had sanctions against north korea. we negotiated. got rid of sanctions. some of the people that negotiated lifting sanctions on north korea negotiated iran sake shuns which gave some of us pause negotiating iran sanctions. during that north korea developed weapons in clandestine way. that is real problem. now they have nuclear weapons and hydrogen bomb. there is no easy response. there is no say we're going to do x. but i think part of the solution needs to be us, china, other great powers putting pressure on north korea. north korea is a businessal economy. it is socialized economy. they barely produce anything. they barely feed themselves. at least some consolation there may be more bragging than what they can actually do. likely more bluster than actual reality. nonetheless it is very concerning. i think consideration of more sanctions is in order and working with superpower
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adversaries to see what we can do. melissa: that is hard to do since we've gone the opposite direction with iran. how tie the two things together? do we have to undo what we've done with iran. >> the difference is north korea already has nuclear weapons. but if you want to see how inept north korea is running their economy, there is a satellite photo you can google online, koreas at night. south korea is lit up with all kind of light. you look at north korea, looks like one light bulb is on because they have to conservative electricity. they can't even turn their lights on at night. it is really inept system. they face starvation conditions at time. melissa: their leaders seem like they don't care. >> they don't. melissa: response put more pressure economically or reverse maybe? >> i think putting more pressure on them is good way or one way to get behavior to change. it has to be concerted. iranian sanctions worked to exert pressure on iran when they were international. our sanctions alone are not that
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effective with iran. when they became international they were. same with this. china is key component to this if you don't feed the north koreans, i'm getting at some point you know what? they may choose new leader. we should exert that pressure. melissa: go back to the campaign. this is election cycle we say like nothing we've seen ever before. it is different for everyone. what are you doing differently and what would you do differently in the future to react how much things have changed? >> the interesting thing is if i weren't reading pundits or seeing reporting on polling which i don't think very accurate i would have no idea from the campaign trail anything is any different than it has been. we have 1000 kids show up for rallies at colleges in iowa. we had a crowd just as big as bill clinton in new hampshire the other night as former president. our crowd was three times bigger than chris we feel like we're doing well. melissa: people like donald trump has huge crowds with no ground game. that is certainly different than what you've seen before.
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do you think that is not meaningful? >> i don't think we would know until the votes come out. we shouldn't prejudge election. those in new hampshire and iowa early primary states we have to see think vote. if large crowds he is getting and polling numbers are accurate he deserves even more coverage. i think right now we've prejudged race based on polling often very faulty. we had polling in kentucky recently for governor's race, all of them said democrat would win by five but republican won by eight. off 13 points in two-person race. i think polls underestimating strength of candidates with our youth vote. we have lot of young people active in our campaign. melissa: where do you think you are? "real clear politics" has you 7th. where do you think you are in. >> last two national polls had us in fifth and sixth. last "cbs poll" had us one point behind carson. carson's numbers going down, our numbers are going up.
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we think we're on the rise. we think our numbers are surging. we think according to the crowds and ground game we'll surprise a lot of people. melissa: wow. thanks to senator rand paul. david? david: meanwhile fox business is getting very busy for another historic night. our second republican debate is just about a week away. the first debate will kick off at 6:00 p.m. eastern on thursday. that is january 14th, hosted by trish regan and sandra smith. the second debate starting at 9:00 p.m. eastern with very own maria bartiromo and neil cavuto. the line up for both debates will be announced monday on "lou dobbs tonight" at 7:00 p.m. eastern. we are all over it, ladies and gentlemen. one paycheck away from being on the street. the shocking number of americans that lack any emergency savings. also militia take over in oregon is in its fifth day. what is being done behind the scenes to end the standoff? we have a live report from the scene coming right up.
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david: new details on crisis in oregon. fox news's dan springer on scene in oregon with very latest. dan? reporter: david, there is no end in sight to the standoff. demands of activists have changed. no even things the federal government can negotiate quickly. if the feds are doing anything it appears they're tweaking group. last night there was disinformation about a raid. militia scrambled. one guy got his gun and drew a line in the snow and said he was willing to die. they say they have evidence of collusion between the harney county and federal government over the case of dwight and steve happened monday who turned themselves in and standed themselves from the occupation and this man, ammon bundy. >> there is a time to go home.
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we recognize that. we don't feel this is quite the time yet. we need to make sure that the hammonds are out of prison or well on their way. we need to make sure there is some teeth in these land transfers. -- hammond. reporter: the federal government owns and manages 75% of the land in harney county. many ranchers and others in rural community what they say as overregulation of public lands. oregon congressman greg walden who represents the area doesn't condone occupation of federal buildings but he understands where the frustration is coming from. >> hopefully the country through this understands we have a real problem in america. how we manage our lands and how we're losing them. reporter: there is a community meeting tonight at 4:00 local time. the sheriff is trying to show united front that the people of harney county are against this occupation. i have to tell you right now, we see a couple of local resident
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who came up here saying they support what is going on, especially the fact it brought attention to the problems of ranchers and people trying to make a living off the land here in harney county. david? david: tough situation. the dan springer. thank you very much. melissa. melissa: el nino hitting the west coast. southern california slammed by severe storms, dime-sized hail and severe tornadoes. rick reichmuth is in weather center with details. any relief in sight? >> moisture through the weekend and one more storm on saturday. this is generally pattern you see in el nino year. a lot of storms tracking towards parts of california, including southern california which is really good news. it is a rough day out there. we have mudslides and lot of flooding going on. there are short-term problems going on but we desperately need the moisture. we'll get it from these kind of storms. this storm is little more unstable. we could see maybe tornado or two. certainly waterspouts across
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southern california. very strong wind along with it. obviously the threat for mudslides. storm track has been going through the south. including arizona. we have all kinds of winter storm warnings in effect. we'll see a lot of snow and snow around mountains in l.a., which is also good news towards sierra nevadas. this is where we need the snow pack because that slowly melts and refills reservoirs. we have the drought which is so incredible. unfortunately we're getting so much at one time. a little bit of a break for friday across southern california. then the next storm looks like at this point it comes in on saturday, bringing more rain and some more pretty significant mountain snow. snowfall totals and rainfall totals, see all of it here into the southern part of the southwest. not as much in the northwest where so much action had been in november and december. getting it now in california is causing short-term problems, melissa. certainly long term gain.
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melissa: rick, okay, great, thank you. david? >> you bet. david: maybe not your favorite brewery but a lot of people's favorite burritos under attack. chipolte under investigation for a criminal investigation. melissa: details of the that executive orders wouldn't have prevented mass shootings. ♪ you can't breathed. through your nose. suddenly, you're a mouthbreather. a mouthbreather!
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melissa: president obama's announcement on his new gun control measures drawing mixed reaction of the critics say expanding background checks will not reduce mass shootings. dan gross of the brady campaign to prevent gun violence says this will indeed keep guns out of the wrong hands. he joins me now. thanks so much for joining us. i think this is sort of been the conversation since it came out. the associated press did analysis what they found. they said none of the recent mass shootings could have been prevented by these mandatory background checks because shooters used guns bought by others or bought legally. do you think they have a point? >> the president himself said you will prevent any tragedy. melissa: this would not have prevented any recent one. >> reality there are 89 people in our country killed every single day. there is terror that happens in our nation in homes and on streets across our country. best opportunity that we have to prevent it, opportunity by the way that overwhelming majority of americans, 90% of the
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americans, 80% of the gun owners, more than 70% of nra members support is just keep guns out of the hands of people that we all agree shouldn't. let me finish. melissa: no, dan. hang on, hang on. we're trying, we're trying to get to really doing something about this. >> background checks is best thing we can do. melissa: if it is that is really sad because what the ap is saying this wouldn't have helped at all. a psun byersed organization -- can you tell me something that would work better? >> i'll give you real facts. the brady law, brady background checks have prevented 2.4 million sales to prohibited purchasers, domestic abusers, dangerously mentally ill, convicted violent criminals. people agree we didn't have guns. melissa: why did we see the mass shootings. why did we see the mass shootings. are the laws not being enforced. >> we'll never prevent every tragedy. what the president's executive actions call for yesterday for existing laws to be enforced. that is exactly what we need to
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do. there are people who are engaged in the business of selling guns every day across this country but not doing background checks. that is all we want to do. that can actually prevent many guns from winding in hands of -- melissa: that doesn't need executive action. if we're saying we need to enforce laws on books, how do we do that. >> no it is clarifying what it means to be engaged in the business of selling guns. right now gun shows and online across the country there are thousands of guns sold every day by people acting like business people. if it looks like a duck and walks like a duck and quacks like a duck it is probably a you can d these are actually business people. they're taking credit card purchases. they're advertising. they have business cards. everybody agrees, if they're going to be selling, selling guns in original packaging. selling multiple models of same gun. why not do federal license background checks that federal licensed dealers. bill o'reilly agrees. he said on air, nra, fun owners
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need to be reasonable. everybody agrees about universal background checks. that is what the question results will save lives. melissa: the fear what he is doing, is teeny, tiny step, it would prevent so few of these that there has to be different type of answer. >> that's not true. we need to stop talking about fear. talking about what we agree on, opportunity to save lives and make this nation safer. melissa: i wish there was away. we won't agree. thanks for coming on. >> thanks. david: also how the president's planning to do this. here to weigh in, ashley pratt, senior political reporter, jessica ehrlich and democratic strategist. thank you ladies for coming in, appreciate it. ashley, president obama had a presser what he announced what he plans to do. play a bit that got a lot of attention yesterday. >> every time i think about those kids, it gets me mad. by the way, it happens on the streets of chicago every day. david: ashley the problem with
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the last thing the president said, chicago has some of the toughest gun control laws in the nation! and it happens more in chicago than it used to happen in chicago. so the tougher their gun control regulations, the more gun violence they have. there is a disconnect there, no? >> that's right. look at what happened in san bernardino. california has some of the strictest gun laws in the country i believe. and i mean compared to chicago, for example. look, mass shootings happen. yeah, there are tragedy every time they do but point is, nra actually put out a great video today, wayne laperriere came out and said the system is only good as records that are in it. so by expanding background checks which no one lear, legal gun owners, people fight for secondment, no one is saying background checks are bad. we're saying the current system there is a lot of cracks in it, legal gun purchases are able to be made by people who have mental issues, by people who are seeking to commit acts of terror, whatever it might be and they're getting through these background checks.
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so that is the government's problem. david: there is also the point, melissa talked about, which is ap report showing in fact sandy hook shootings and san bernardino shootings would not have been prevented by what the president plans to do. how do democrats respond to that? >> well, i think it is going to what they were saying especially regarding sort of damning up these holes that are in, letting all the water through. i mean you can't control and stop every act of violence that happens. but you can do things that will make a difference. certainly as ashley was just saying is mental health. >> wait, hold on. i want to point out here -- david: hold on. one at a time. hold on. ashley. hold on jessica. finish your point. >> which is why they're being addressed. second of all making sure enforcement is going on. they're beefing up people not only able to do background checks but making sure more enforcement happening on general level. there is communication between
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local law enforcement and federal law enforcement. david: ashley, make your point quickly. >> issue, federal government, the background check they're seeking to expand and throwing more federal money at is ineffective. while gun owners abide by all federal regulations placed upon them, some are quite burdensome, some -- david: ladies. i'm sorry we have run out of time. one thing, hold on a second. the one thing that is clear all of the president's plans will cost more none any and question is whether congress is going to allocate their money, that money or stiff the president on his plans. >> it wouldn't have solved any of these situations from happening. david: ashley, jessica, thank you both, ladies. appreciate it. very controversial issue. melissa: a few other stories on our radar, the u.s. conducted 12 airstrikes in afghanistan to support american and afghan forces fighting taliban. in wake of team of u.s. special operations forces suffering one
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casualty and multiple injuries while fighting the terrorist group yesterday. the trump organization is firing back at great britain. the executive vice president and counsel for the trump organization said britain is creating, quote, a dangerous precedent by scheduling a debate in parliament to discuss whether the presidential candidate should be banned from entering the united kingdom. more bad news from chipolte. the company announced it has been slapped with a subpoena as part of a federal investigation tied to norovirus outbreak at of its restaurants in california. they expect sales to fall 14.6% at established location in the fourth quarter. david: we have news about a breakup with morgan stanley. morgan stanley wealth management president is out. charlie gasparino will have more details coming up for us on this. meanwhile baseball players striking back, filing a
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melissa: consumer electronics show kicks off today in las vegas. liz claman has been bringing you newest gadgets from the big event all day long. we are loving it. she is standing by were a product from peloton. she is joined by the company's cofounder and ceo, john foley. liz, take it away. liz: melissa, this is highly unusual. day one you have 20,000 products being rolled out at ces in las vegas, one year, last year, he came here to roll out the exercise bike that he says should be the tesla of exercise bikes. he is already profitable. john foley is the founder and
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ceo of peloton. already profitable is already unbelievable feat to do. you got a round of $75 million in financing. what will you do with it? >> we'll be aggressive, innovating in fitness, technology and content. >> you have a couple things going on here. this is the bike. this is what you get. you get motivated by the actual classes. this one is on back of your screen right here. this is a live class that feeds into this, correct. >> that's right, that's right. so the experience is like nothing else at home of the basically like taking a soulcycle, flywheel style classes. i know you like flywheel. liz: yeah. >> that class at home where you get energy, excitement, music of one of the best instructors in the world. and riding with other people. experience at home is unparallel. convenience sun deniable. right where you want it, living room, bedroom, your basement. value at $39 a month for unlimited classes for you and your entire household is fantastic.
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if you ride every day, basically like paying one dollar per class. >> liz: is it true some people are so addicted to this they're taking three classes a day? >> i heard as much as five. yes. i can't do a double myself. there are lots of people that love the experience. liz: the like itself is 1995. cherry is on one right now. she is pushing along. how many calories in one hour class? >> i heard 7 or 800 calories in 4500 class. you have to work pretty hard. liz: this is number one machine. how do you scale up and double that. >> that is one of the reasons why we take the money from a great private equity partner. they have a lot of scale with supply chains. they were behind restoration hardware with their few years growing rapidly. the name of the game is make more bikes and get word out
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broadly because it is best cardio machine on planet. one of the reasons we're going to, we took money to do more marketing and open more stores, allow more people to understand the peloton bike is something they want. liz: you were in corporate america. you worked at barnes & noble in e-commerce department. you quit to do this? this is unbelievable. you manufactured a bike? >> interesting because you study this stuff like i do. at barnes & noble and amazon and nook and kindle tablet. you don't want a tablet. you wan content with it. books, music, magazines. you don't want the piece of hardware. same thing with fitness category. you don't want the bike in your basement. you want that experience of the great class, right? you want energy and motivation and whole fantastic experience. we built a platform, vertically integrated technology platform to allow to you consume content at home. liz: david and melissa not just the bike, it et cetera software
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and content. if it is just a bike, you're hanging old clothes on it in the basement. >> exactly. thanks, liz. liz: they talk about unicorns worthing billion dollars at startup. this is pegasus. worth more than a billion dollars and profitable. back to you in new york. melissa: thanks to both of you. looks like too much exercise for me. david: i have to exercise but i hate to exercise. melissa: i know people who have the approximately la ton and love it, i have to say. david: apple is making a significant move in the product that provides it with 2/3 of its income. iphone production is being scaled back, reportedly due to inventory buildup with all latest details. deirdre bolton joins us now. >> thank you. apple if you look at stock it is under $100. that has not happened since last summer. a lot of analysts say production will be cut back. these are analysts talking, not apple, but apple may cut
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production by as much as 30% of the iphone 6 and 6s, 6s plus in the first quarter of the new year. but if you look at larger context, i mean the app store alone made made $20 billion as per this holiday season. 1.1 billion alone just over that christmas holiday shopping. so if you're an apple believer you could take this as sign to buy and hold long term. david: carl icahn would say it's a screaming buy. tough get in now. thanks, deirdre. see you at top of the hour for risk and reward -- "risk & reward." melissa: surprising study on amount of americans that can't afford unexpected expenses. cost of air fare going up. skyrocketing prices up next. you both have a
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melissa: whether on wall street or main street here who is making money today. airlines round-trip domestic flights being raised by several airlines this week, all by $6. oh, no. delta air lines starting the tripped quickly followed by united southwest, virgin america and jetblue, they all piled on. powerball wins are now estimated to be whopping $500 million. the odds to win, 1 in 292.2 million. good luck. >> michael weatherly, is checking out of "ncis." he has been on the show for about 13 years. i bet he is making a whole lot of money, david. david: yeah, but we'll miss i h. are you emergency fundless? according to bankrate.com, americans can not cover
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unexpected expenses. live from the newsroom, gerri willis. this is new. big numbers. >> americans can not afford $500 to get their car fixed or $1,000 from a million bill from emergency room. think about that doesn't have to do with people earning minimum wage or people who are not educated. in fact 46% of the people making$5,000 or more would also have trouble, couldn't afford a hundred dollars auto repair or 1,000-dollar emergency room visits. david? david: all right. gerri willis, thank you very much. thank you, gerri. melissa: mlb players striking back at al jazeera. philadelphia phillies first baseman ryan howard and wash none nationals first baseman ryan zimmerman filed lawsuits against the media company which reported that the two allegedly received shipments of performance-enhancing drugs.
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howard and zimmerman claim the al jazeera report contained false statements and quote, inaccurate, unsubstantiated and reckless in nature. so there. david: more positive light, results of base bat writer votes of 2016 baseball hall of fame will be announced six p.m. tonight. don't want to miss it. candidates need 75% to be elected in hall of fame. notable names who could getted nod, ken griffey, jr., mike piazza, or curt schilling. melissa: how much would you pay for a doughnut? david: we're serious. melissa: if you are willing to take on the gold doughnut you have to have serious bank. we'll tell you how much it is. pinot noir, which means peanut of the night.
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at ally bank no branches equals great rates. it's a fact. kind of like reunions equal blatant lying. the company is actually doing really well on, on social media. oh that's interesting. i - i started social media. oh! it was my...baby. david: well, another major selloff on wall street today. and if you look at the second from the bottom there. oil is really what dragged this market down and that was as a result of concerns about
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the global economy. what's happening in china. the possibility of hydrogen bomb in north korea. that sent oil tumbling and stocks down with it. it was down a lot more but 250 points brings it well below 17,000. a bad day for markets. melissa: so you better cough up some toe if you want to try this doughnut. manila social club in brooklyn is home to the pastry that's topped with champagne ice cream. filled with champagne jelly and moose and it is covered with 24-carat gold. you could purchase it for $100. david: yeah, but get this. looking for a deal? don't worry if you buy a dozen of these things, you can get all 12 of them for $1,000. you save $200. it's crystal champagne. now, you know what cold duck is? cold duck is a cheap bottle of what they call champagne. cells for about $6 a bottle. how do they know they didn't
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put gold duck in there? melissa: that's what i didn't get. do you eat gold regularly? david: no, i don't. but some people are buying it so, hey. good luck to them. that does it for us. risk and reward starts right now. deirdre: stocks fall by triple digits. turmoil around the world. u.s. crude prices are falling to multiyear lows. this is risk and reward, i'm diedre bolton, investors have a lot to monitor. there's a power struggle going over between saudi arabia and iran in the region. the catalyst kingdom of a concern about economic growth since the market hit a five-year low, the stock market talking about hard and a new wake-up call to the world as a result of the

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