tv Mornings With Maria Bartiromo FOX Business January 19, 2016 6:00am-9:01am EST
right now. shaping up for a bounceback 236 points heading towards the opening bell. crude oil moving higher this morning. just a few pennies below at 29.82. turning into politics this morning. while donald trump, the donald trump-ted cruz feud, trump, however, the subject of criticism for this botched-oh bible reference. >> one of the people i'm running against. i don't want to name them, such great christians, i can't say bad, am i allow today say bad -- allowed to say bad in this room? 2 corinthians.
where there's spirit of the lord, there's liberty. sand >> sandra: winter is finally here. potential significant winter storm targeting major cities in i95 corridor. new york city could see a foot of snow this weekend. mobile services threatening outrages. we will have more on the story. a sad morning in the world of rock. top story this morning. the shanghai composite jumping over 3% despite china seeing worst economic growth in 25 years. jo ling kent is here following the story. good morning, jo. >> jo ling: growing by 6.8% but
still falling from the previous quarter. for 2015 extension flowed down, marking the slowest growth in 25 years. december industrial production and retail sales also came out slightly worse than expected. despite the fall, asian markets did rally across the board of hopes of potential chinese stimulus. dow futures pointing to a rally to kick off the day so far. we are up slightly on the morning, sandra. >> sandra: all right, jo, thank you. our next guest expect the chinese selloff to continue at a rapid pace for strong ripple effects being felt in the global market. we have been seeing them. joining us voya investment management doug. >> thank you very much. >> sandra: what are you -- what's happening here? it has been tumulotus start to
the year. >> you have oil prices going to a two handle. you have china concerns, but it comes down to global growth, comes down to corporate earnings, corporate earnings look like they're in their third consecutive negative, what we believe is 2016, probably the second half, first quarter, whether he see positive growth. >> sandra: let's break this down for a second. you talk about the oil-price carnage. we are still looking at oil below $30 a barrel. breaking it down, does that selloff continue and can equities bounce back without a bounce back in oil? >> we believe oil will come back. it comes down to global growth. you saw china numbers. remember, china -- everyone has been predicting china hard hardlanding for years. that's probably a lot lower.
but it's still growth and if you look at it, we are having slowing global growth but the u.s. economy is doing well, europe is doing well, japan is doing okay, so even though we are in the lower-growth environment, the only way oil is going to come back if we get some of that growth. >> sandra: i want to bring dominic in here. >> dominick: they purpose usually try today slowed the economy down to try to get it away from the intensive manufacturer, more consumer. what i want to know doug, when do we see a benefit from the u.s. economy, we have been talking about lower oil prices, when do we see it benefiting the corporations? i think it was not american airlines, had really good earnings. when do we see benefit for american corporations on low oil
prices? >> it's slow to come in to the consumer, but what we are seeing is benefiting manufacturing, you're seeing a lot of german companies buying u.s. manufacturers, you're seeing chemical companies coming in getting huge benefit. you're seeing the oil export band lifted, so we are seeing down the road, that's why we are seeing second half. we think a lot of this clears. what we are saying is, be broadly globally diversified and alsohey don't on this market anymore, accept more and more volatility. >> are we going to see enough benefit to offset the oil patch and losses? >> not essentially. comparisons are very easy and compared to 2015, so we do see
investors do need to stay patient. they need to be well diversified, they need to be no bonds as we are seeing. everyone sold off bonds in the beginning. what's the best performer, senior loans, bonds, u.s. treasury, nobody expected that this year. that's what we are seeing. be broadly diversified. >> sandra: it's a great point. you bring up airlines today. you want to get in here. >> scott: they raised a couple of weeks ago. airlines raised the fee to consumer. i thought it would be the other way around. when do we see benefits from those types of entities? >> it's because of demand. >> scott: they are charging fees for every little thing. >> that's capitalism and free market. consumer -- i believe the fed
has really focused on helping the consumer out and refer to cycle of housing, employment, and they're spending money, retail sales weren't great last week and that's because of demand and that's a good sign for u.s. economy. >> i'm the policy guys and i look at these things. you have government setting policies that companies are making economic policy. the problem to your point about airlines is airport fees go up the rest of the company functions after respond. the policies are not working together. government policy and corporate policies, and that's a problem. that's global by the way because they're buying america. everyone is trying to buy america but we are being dragged down. look at the globe as a whole, not just the sectors we talk about. >> if you talk about the global economy africa, they're actually growing at 5%. you talk about policy regulation
is one of the biggest problems with policy. then you'll see higher growth and not just in the u.s. but labor market. >> sandra: when are we going to able to wake up and see equity market act on its own and be so fearful at what is happening in china? when do our markets become immune to that? >> our exposure to china they depend more on us than they -- we do on them. we need china to help with the emerging markets. half of the revenues are overseas. equity markets are responding to markets. >> sandra: we have to go. when you talk about merging markets what markets are you refer to go in these days? >> africa, perú, south africa.
south america. right. >> sandra: all right, pleasure to have you. good stuff. >> thank you very much. >> sandra: republican committee ending relationship with nbc news for the previously scheduled february 26th republican debate in houston, texas. this announcement comes in the wake of criticism following the october 2015 debate hosted by nbc partners cnbc. debate which ryan says was conducted in bad faith. after hearing updates from previs on unanimously voted to cancel the partnership with nbc. senator, before we go, i would love to get your thoughts on that, by the way. >> scott: good. thank goodness the fox debate came there after. niel and maria set the bar.
if you look at the two debates that we had recently, the democrats, they are talking about raising tax, taking more of your money, more regulation and when liquidity listed -- hillary clinton listed all the nine things she wanted to do economic issues weren't even in it. i said good, marco rubio said, just turn the channel and just cancel if you don't like them. >> sandra: that's the beauty of it. >> i spent this week in myrtel beach, people from all over georgia, florida, they like what's come out of the fox business debate. >> sandra: thank you. >> the field is getting a little smarter and people are start to go get more context. people matter in this because we follow this every day, but they're saying, what did i learn last night and that's what people need to get out of the debates. that's good for the party and for the nbc crew and whatever,
hey, you lost it for yourself. >> sandra: all right. we will leave it there, guys, thank you. straight ahead the dangerous of a connected home. how your wi-fi router may be inviting hackers into your house. how low can it go? oil trading in the lowest level in more than 12 years. what a slewing china could mean to price of crude? could it go even lower? ♪ ♪
you can fly across welcome town in minutes16, or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪
story. jo, good morning. >> jo ling: three americans were kidnapped while visiting the interpreter's apartment. however, many people in the region often refer to any building that accepts any foreigner as a brothel and officials denied that was the apartment's use. director spike lee and jada pinket boycott globes. >> first of all, ms. thing, does your man not have a mouth of his own for which to speak. girlfriend, there's a lot of stuff going on in the world that you don't seem to recognize,
people are dying, our boys are being shot and you talk about some actors and óscar. >> jo ling: hackers are not targeting just smart phones and computers but they're now also targeting your wireless router for the back door into your connected home according to wall street journal, consumers are not updating software or upgrading often enough leaving devices vulnerable. >> sandra: wow, this is scary stuff. this is on your radar in a big way. >> i have been doing this for years. i did this weekend. the problem is they started with baby monitors, they were easy to hack into. it was an easy way to see if somebody was home. however, there's information that can be taken out of your system, the medical records,
very valuable, identity, i'm someone who has not only my opl letter, has had identity stolen. >> sandra: part of my prepping for debate i was looking at how they plan to protect from these types of attacks and it does fall into the critical infrastructure, protecting our electric grid, protecting our drinking waters, protecting our telephone and internet systems. not a lot of them had plans. jeb bush was the only one. >> the last time i checked jeb bush was the only one who had a cyber plan on his website of sorts. none of the others do. the problem is this isn't sexy for politicians. part of the infrastructure is the cost t cost of dealing with identity theft. the cost of playing defense which is what companies do and are connected homes. you get a back door into a company, you now have access to people's records. you give them your information to set up the accounts, you have
files with the city with alarm systems. systems. >> jo ling: when you look at the security companies, you had president obama holding senior officials meeting in silicon valley and the issue is opinion about how -- how information should be handled, whether or not the government should have access some of these companies and be able to demand information without a search warrant. a lot of legal debate. >> dominick: when they can't protect their own systems, we want to give them the liberty to come into our systems. >> jo ling: the issue that i'm really talking about is companies being able to work in concert with the government because they do have the latest technology to encrypt or to protect information and if you have this major difference moving forward to protect our private information, it's just not going to happen. >> scott: you have to strike a balance like you.
i had the north korean cyber army attack our -- my computer where the fbi had to take the computer. those types of things are real. they effect people and the cost is a lot of folks can't, you know, afford to the safety precautions. >> the overall cost to corporations. these are the economic issues that come with it. >> sandra: it's difficult for a lot of companies to identify how exactly to protect us from this. all right, jo, thank you. >> jo ling: sure. >> sandra: crude oil dropping after dropping $29 a barrel. new government reports saying oil prices could drop even further this year. what that means for prices at the pump and your wallet, coming up next, keep it right here. what prices are you seeing?
♪ ♪ this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache.
to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card stop taking cialis and get medical
help right away. he ran for senate saying he opposed amnesty... then he flipped,
>> sandra: all right. we are looking at crude oil prices this morning. 2% right now. under 30-dollar a barrel mark. you're still looking at allow for oil. iea monitoring agency saying prices could fall even further from where they are today as the market struggles to absorb excess supply. todd is at the cme.
it's all about the glut of supply in the market. the new report is referencing the oil coming online from iran. we are looking at about 300,000 barrels a day of additional crude that could be coming to the market. what is this going to do to prices? >> good morning, sandra, by the way, i don't think it's going to do anything. i think prices are going higher. as you look out in the future, you're a trader, you remember we are placing much higher oil. i think iran, i think all that information has been placed in the market. as we know, the feds believe markets are more efficient at pricing than where they think they are going themselves and price in crude oil is going higher as we go month by month. i think that here we are -- we know that iran was coming back online. we have a glut. somewhat the glut will disappear. >> sandra: so when you say oil is going to go much higher from
here, you're pricing that in, what prices are you talking about? >> i don't think we are going much higher. we have to look at it level by level. if we look at the new contract which is coming out right now 30.50, 30.75. i think we look for 32, 34 and 36. if you notice the difference between brent and wti, that was extremely wide and now we don't have a demand, we don't need mideast oil, we don't need iranian oil. prices are a little bit tougher. i think we are going higher. >> sandra: i was just repeating your own words back to you, you said they were going to go much higher and then you corrected yourself. we are looking at $30 a barrel. what is this going to do with markets? are we going to sea an impact in
earnings from recent selloff in prices? >> i think you are going to see a dram -- dramatic effects. i think something interesting lately, sandra, take a look at the airlines. they have been getting hammered. what's the problem? oil wants to go higher and i think it will end up in the 40's before the year is over. >> sandra: all right, we are waiting on airlines to report today. this week we will be watching it for you. todd, thank you from cme this morning. >> thank you. >> sandra: carly fiorina has turned her attention to hillary clinton. that's next. ♪ ♪
growing up, we were german. we danced in a german dance group. i wore lederhosen. when i first got on ancestry i was really surprised that i wasn't finding all of these germans in my tree. i decided to have my dna tested through ancestry dna. the big surprise was we're not german at all. 52% of my dna comes from scotland and ireland. so, i traded in my lederhosen for a kilt. ancestry has
many paths to discovering your story. get started for free at ancestry.com. .. ♪
bend me shape me, any way you want me as long as you love me, it's alright bend me shape me, any way you want me you've got the
power, to turn on the light shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store. iall across the state belthe economy is growing,day. with creative new business incentives, and the lowest taxes in decades,
sandra: i am sandra smith, maria romo is on assignment committee's january 1910 with me all morning former massachusetts senator scott brown. the first financial advisor is, radio talk-show host david webb always brings his team. top stories at 6:30 on east coast china reporting its worst economic growth in the quarter century. china's gdp 6.8%, that is the growth for the last quarter over a year ago, down from 6.9% in the third quarter but in line with estimates. economic growth for all of 2015 in china was the slowest in 25 years. asian markets across the board on i guess you could call it bad
news, hope for potential government stimulus spanning a rally today. future is showing markets ready to move higher after friday's massive sell-off, you are looking at crude-oil prices this morning bouncing back still under $30 a barrel. you have dow futures up 251 points pointing to a significantly higher open of few hours from now. turning -- take the quick look at oil, green arrows across the board, it may even reach back above $30 a barrel this morning, looking at a 2% rally there. turning to politics this morning reports today and the retired general david petraeus maybe retroactively demoted. ashton carter reported in looking to crack down on misbehaving generals including general david petraeus submitted to divulging classified information to his biographer and mistress. winter is officially here. potentially significant snowstorm targeting much of the east coast, reports that new
york city could see as much as of foot of snow this weekend. get the plows ready. sad day in the world of rock and roll with the news of glen fry's passing, stars like olivia newton-john, brad paisley and steve martin contributing to the outpouring of sorrow. martin tweeting unfriend from your the days and an important member of the eagles has died. the battle for the presidency meanwhile is heating up as rival gop candidates donald trump and ted cruz fight for the republican nomination. blake berman is in washington with all the latest details. >> good morning, donald trump was largely devoid of political attacks yesterday while giving a speech on the campus of liberty university. the private christian university is where ted cruz announced his presidential run but donald trump still did clear of that escalating feud. instead the backdrop was courting an important republican
voting bloc, evangelical voters. that group is especially significant in iowa. the quinnipiac university poll from that stage shows from does get a large backing from evangelicals but trails ted cruz amongte shows from does get a large backing from evangelicals but trails ted cruz among that group denial of. >> . >> we have agreed with evangelicals we are going to clean the table. we are going to protect christianity. >> reporter: trump who faced questions about the importance of religion in his own life had once got that through some chuckles from the crowd. he talked about, quote, tweet to corinthians, that should be second corinthians.
>> i want to say something on that. anyone who has ever been in front of a large crowd on the campaign trail and donald doesn't use the notes is going to have our little slip up like that. everybody running is faithful. they are all thoughtful about their faith in god. we had donald trump the other day, he did very well. "cavuto coast to coast" when you hold these back part barbeques, invasive candidates and your home instuart: you hold these bt barbeques, invasive candidates and your home in case of donald trump -- >> they grillled a candidate for the hour-and-a-half. high pay for everything, hot dogs and beer, the first person who has been there from day one. sandra: have you had carley?
>> 453 people. john kasich, i love him, i love chris christie, then oh my goodness carly is amazing, it will be the same thing. sandra: net selfy. >> i will do what brent michaels did. sandra: the fox business debate, u.s. national security a hot topic. i asked carly fiorina what she thought were the biggest problems coming out of the obama white house. >> when we refuse to respond over and over to provocation and bad behavior we will get more provocation and bad behavior. i know most of our allies personally. i have met many of our adversaries. i know our military and intelligence capability and i know this. when we will not stand with our
allies, when we will not respond to our adversaries and cannot be in the world, did world is a dangerous and tragic place i will be athe world is a dangerous and tragic place i will be a commander-in-chief who will lead. sandra: joining me is nan hayworth. great to have you. a couple days after the debate what did you think of her performance? in my debate by the way. >> i commend you on wars. it was an authoritative. carly fiorina sounds like a president. the reason is because she does have every quality of leadership. sandra: did she win the the the? >> hands down. you can chalk her as the winner of the night.
when she talks is not some showmanship, she has something real to say. sandra: she is the most hawkish of the republican candidates. when you look at polling the american people want more aggressive action fighting over there. why is her message as we do see her, she has recently come down in the polls and she had to be in the first debate, why is her message not resonating? >> carley said it herself, she started 17 out of 16 less than a year ago when she entered this race. she has stated her keys consistently eloquently. with incredible knowledge. sandra: is cheese changing her strategy? >> she has a tremendous ground game, 500 community capt.s in
new hampshire alone. i spoke with these folks personally and they are definitely getting a lot of strength in their communities as we get down to the wire for voting. >> this is a question for all candidates that you mentioned the community captains, viability win elections. ground game wins elections. as i said to the crowd in south carolina talking to each other to convince other republican supporters, that doesn't win you an election. how does she go out beyond the echo chamber and start to gain the votes needed to win, the path to victory to win a general election? >> we have early primaries know one has taken a vote yet. carley is very serious about a ground game. she has tremendous staff on the
ground in new hampshire that i witnessed personally. she has teams in at least 23 states. she is resolute. sandra: have you seen a bump in the reaction, in the polling that you have been watching following the debate? was it good for her? >> it was super a for her. i was at these town halls. case of a lot of folks who work harley fans comingthey of a lot harley fans comingsaw a lot of k harley fans coming to earlier events. they are impressed by how knowledgeable and authority and she is, she projects integrity. >> what i have seen is exactly that. he is thoughtful, knowledgeable, very firm.
in new hampshire's 45% of the electorate is undecided. if she does those five or six or seven town halls and the elections showed in but it is not, when she and others are trying to do is continue that momentum until february 9th when they have it so people are still pretty fickle in new hampshire. they take their primary first in the nation very seriously. i commend her. win she came to the barbecue she nailed it. sandra: great to have you here and great to get your reaction post debate. breaking news coming in moments ago, china we have been reporting the news on its gross, it will inject $600 billion, 90 one billion dollars into the financial market. your reaction to this? >> i think domenic are going to trade nichols, we give each other in nicole every time we have something in the greenroom,
we talked about the policy and what the government does in china, talked about signals being sent, while the market opened up in the green. last night i sat there and looked at the markets ahead of this morning and it was because someone had sent a signal they control their economy. it is a managed economy and they are making sure they prop it up but the real growth will eventually come home to roost. >> putting that aside, when president bush went through the economic cycle after 9/11, look what he had to go through to get a bill passed to get an economic stimulus package. president bush, obama had to do the same thing. to get a massive package through congress and get it into the economy. . a snap their fingers against and done. we can argue communists and free-market that the end of the day they can snap their fingers and get it done. >> where those two intersect, we
talked about this. when the government can act a certain way and the economy has to react to it, then you have to look at the broader picture, what is the real picture in china. it is communist country that controls capital. they have to support their infrastructure, people, growth, and they are not opening. it is not a force multiplier economically, their growth is not 7%. some people argue 5%, i stabile growth when u.s. as their overall economy right around 2% and the world is slowing down. we have threats around world, the economic environment and the global environment coming together. this is a recipe for economic disaster. >> to recap, china is injecting 600 billion yuan into the financial system boosting liquidity for the markets, this is widely expected, you saw markets in asia moving higher even though we saw weaker gdp
number, it was in line with estimates but still much lower in the grand scheme of things. we used to talk about double digit percentage growth in china, now you are looking get 6.8% growth so that is helping markets here as well, you are looking at dow futures at 266 points, isn't the futures up 31, will continues to move higher. big markets mornings for you, we will keep you updated on the latest, a lot of earnings coming out this morning as well. coming up an alleged match fixing scandal rocking the tennis world. the major players calling for a guilty parties to be named. one player calling for other players talking on this as well, shocking story, we will have more next.
♪ i don't want to live with the uncertainties of hep c. or wonder whether i should seek treatment. i am ready. because today there's harvoni. a revolutionary treatment for the most common type of chronic hepatitis c. harvoni is proven to cure up to 99% of patients who've had no prior treatment. it's the one and only cure that's one pill, once a day for 12 weeks. certain patients... can be cured with just 8 weeks of harvoni. with harvoni, there's no interferon and there are no complex regimens. tell your doctor if you have other liver or kidney problems, hiv, or other medical conditions, and about all the medicines you take including herbal supplements. taking amiodarone with harvoni may cause a serious slowing of your heart rate. common side effects of harvoni may include tiredness, headache and weakness. i am ready to put hep c behind me. i am ready to be cured. are you ready? ask your hep c specialist if harvoni is right for you.
sandra: equity futures hitting a highs and chinese stimulus, this news breaking moments ago, the chinese are trying to prop up their markets, their economy has been struggling. the just cannot with a gdp, 6.8%, in line with forecasts but still substantially lower event what we have been seeing from shyness of those concerns leading to strong measures, 600 billion yuan being pumped into the system according to the pbs see just moments ago, roughly 91 billion usd.
jo lin kent, please put this in perspective as we see our market substantially higher heading into the open. >> this is exactly what the chinese market was anticipating the and san and there are a 3% and 2% and the u.s. market was bouncing off of the futures were also up and you see this big bump. so this is partially time in going into the chinese new year. market in shy and he-a lot of liquidity on the books because there's a big seasonal demand for money during the chinese new year, lots of money being exchanged as gifts for the lunar new year and then you also see that they want to get more people borrowing again and relending 7 chinese government that the medium-term lending rate to 2.75% hoping to spur a little more activity there but basically this shows the need to move towards a strong service sector. they have not been able to accomplish that was the global slowdown potentially a recession in the u.s. where we are looking at slower demand so all of these factors putting a lot of
pressure on the u.s. market. >> looking at asian markets rather than having to take a measure like this 600 billion yuan pumped into their markets residents seeing that as things are really bad, markets in asia are applauding this, and we see a substantial rally in asia. says maybe vix is the measure that could and still little bit of medium-term confidence at least because when you and circuit breakers in place that actually did more panic to the markets instead of saying we are going to let this fall and see how much we can correct. >> this feels too much like all those days of was reacting to the federal reserve saying we get some more bad economic news they must pump more money into the system and then the market loss. >> chinese market is up 3% but if you look to japan and korea they are only a half%. how they open, 2:00, 3:00.
we will know what is going on. sandra: forecasts are lower? >> we should end all-but don't expect we will end up with 250 points on the dow. i don't see it. sandra: thanks for jumping on the breaking news, see you again shortly. coming up we want to talk about this tennis story, world tennis no. one novak djokovic speaking out against tennis match fixing allegations. latest on that scandal next. your path to retirement... may not always be clear.
but at t. rowe price, we can help guide your retirement savings. for over 75 years, investors have relied on our disciplined approach to find long term value. so wherever your retirement journey takes you, we can help you reach your goals. call a t. rowe price retirement specialist or your advisor ...to see how we can help make the most of your retirement savings. t. rowe price. invest with confidence.
earnings per share $0.28, revenue at $19.3 billion for its most recent quarter. we are seeing stock moving slightly higher in pre-market session, good news -- >> any time you beat on the earnings cited held stock a little bit, this is a constant pattern we're seeing in the financial-services industry, where top of the line revenue is not growing because our economy is not growing. >> is this what i call the consumer effect? debate has multiple operations and is the big bank, you have consumers, a lot less consumer activity, you see a problem with revenue not being what it should be? >> the last half-dozen years everything refinance again and again, and that really has slowed down dramatically and that affects revenue.
>> the fact but very few lenders are lending to new homeowners, homeownership is down dramatically and you also look at business loans, businesses are nervous, they don't want -- personal guarantees in wine. >> the couple highlights in the earnings reports deposits up 8% for the quarter, loan balance up 6%, total mortgage and home equity production up 13%. does this tell you anything? >> we talk about gas prices earlier, we know the consumer is saving a third of that weekly savings they are not spending on gas, paying off the debt, saving a third of it and the rest they are putting into the economy so that is one of the major reasons. >> in future months of that trend continues you will see an influx of cash going into the economy and consumer purchasing. >> that is part of the fear
factor. the u.s. stock market having a rough time pulling money out. sandra: beating on earnings by two pennies, $0.28 a share, missed on the revenue side. stock is up in pre-market moving further to the upside, up $0.25 now all. keep watching and lots more names, waiting on morgan stanley, charles schwab and other big financial names, we will bring those to you as they happen. we are joined by republican party chairman ed koch who will tell us what of the republican candidates could score a surprising victory in the liberal dominated state of new york.
with maria" and sandra smith, it is tuesday january 19th, for massachusetts senator scott brown getting ready for a backyard barbecue tonight, diversified financial advisers here, radio talk-show host david webb. first top stories at 7:00 on the east coast, breaking news the chinese government announcing a $600 billion injection into their financial markets after reporting the worst economic growth in a quarter century, china's gdp, slightly lower than a third quarter growth in line with estimates. economic growth in china for all of 2015 slowest it has been in 25 years asian markets rallying across the board on -- pumping more money into the system getting a rally, shanghai composite up 3%. back at home futures showing market is ready to move higher
after friday's massive sell-off, dow futures point to a triple digit gain on the open, 264 points following yesterday where we did not have any stock trading activities, see how markets react a couple hours from now. banc of america announcing fourth quarter earnings beating estimates missing slightly on the revenue side. crude oil moving higher, back over to $30 a barrel, it is there now, 4%, all around the $30 mark, we will keep watching that and talking to somebody on the trading floor, turning to politics, the donald trump/ted cruz feud picks up steam. donald trump looking to snag evangelicals supporting university yesterday, the trump the subject of criticism for a botch bible references.
>> one of the people iron running against the won't use names, this is really such nice religious people, i loved such great christians, can say bad. am i allowed to say that? we are going to protect christianity. 2 corinthians, 317. that is the whole ball game. where the spirits of the lord is there is liberty. >> over in the past. >> i'd give anyone a pass standing in front of national tv, national crowds. i have been there. i have run 13 times, the 11-2 and when the camera turns on we are lucky, for people who are novices whether it is ted -- sandra: you are open for criticism. a mild start to the season so far but winter looks like it is here now potentially significant
and the storm targeting the five major cities on the i-95 corridor, reports the new york city could see as much as a foot of snow this weekend. plan on traveling you might want to check that out. there is also of this, twitter suffering a worldwide outage. access to the web and mobile services, outages throughout the morning, more on this story as it develops. asat morning in a the world of rock and roll, eagles founding member glenn fried passing away at the early age of 67. don henley saying he was like a brother to me. legendary comic steve martin tweeting my friend from the early days and important member of the eagles has died. we love you. breaking news china set to inject stimulus into the market. jo lin kent is here with the latest. this was someone expected but
markets are reacting to this. jo lin: breaking news right now the chinese central bank injecting the new stimulus giving the market a boost after chinese gdp growth came in at 6.8% in the fourth quarter, the following from the third quarter for the full year of 2015, finally here, expansion the slowest in 25 years, but asian markets really rallying as the central bank announced 600 billion yuan injection, all to meet medium term liquidity needs and you see the hang seng closed at 2% anticipating the shanghai composite and 3.2% higher investors in the u.s. like this news, you see futures climbing this morning throughout the morning, double digits in triple digits. sandra: we're looking at these markets.
a lot on the earnings front, big political situation in the election year but we're looking at dow futures shaping up for a rally. a couple hours from now, "the opening bell" looking at a gain of 260 points, the s&p just over 1900 is up 30 one points ahead of the open, nasdaq futures up 71. on a percentage basis the nasdaq leading the way as we kick off a morning equity index futures the session highs on the chinese stimulus, that is breaking moments ago. chairman and chief investment officer joins us from sarasota, fla.. what do you make of this? why are we seeing the rally we are this morning? >> i put a scarf on in florida in honor of davos and you folks in new york. what we seeing in shine at? china is changing monetary policy. the world is being driven by a divergences in monetary policy.
that adds volatility but we must remember volatility goes in both directions. we are seeing good this morning, we saw that yesterday. win central banks diverge policy, they raise volatility. it goes the other way. maria: people are waking up looking at the news, there's a lot on their plate, the news in china, earnings coming out, bank of america beadings earnings expectations. what is the focus for trading? what is the u.s. stock market focused on? while we up so much? >> china is the goods producer, your world does better. we got good news there, positive news out of the financials, we saw in this morning, the s&p was clear about the financials, eight big ones. they dissected them into two groups and said look at the operating earnings, here you see
positive skin in bank of america, morgan stanley. in four of them like wells fargo you see negative, take them apart in 2 two blocks, operating earnings, operating subsidiaries hold the key to dividing the financials. sandra: you want to say -- >> last august the s and p 1870, we retested in october. we did it again friday. can we take that as a positive retesting lows? >> we don't know but i am about 2200 on the isn't the at the end of this year. is a single digit compounding sequence in the u.s. stock market and it has got several years to run, the bull market is not over. it is low growth but picking up slowly, low inflation, low interest rates and an improving economy. sandra: we had bank of america
last hour, morgan stanley earnings now out as well reporting fourth quarter earnings beating on both earnings and revenue for morgan stanley, reporting a earnings at $0.43 a share, revenue of $7.7 billion. now we are seeing morgan stanley shares moving higher in the pre-market, more than $1 higher. your reaction? >> operating sections of morgan stanley are on track doing well. it is the operating subsidiaries that hold the key to dissecting the financials, the big risk in financials is in the high-yield sector. that is still evolving. in fact when the high yield spreads finally stabilize you want to get into the energy patch, we have been gradually taking up our energy weight now that those threats are so wide. the key is in the credit spreads.
sandra: do you think this is good news overall? >> bank of america, morgan stanley, this could be the floor, financials could come in healthy, create 4 we could grow from here. >> will drive the democrats crazy so there will be another line the banks said doing great and everyone else is doing terrible so we have to do something about it. sandra: all right. we are watching crude-oil prices this morning. pretty much up all morning, by 2% edge trading around $30 a barrel, the big question is does the sell-off continued. we see $25 a barrel or turnaround and move fire from here, news about prices could fall further as the oil market struggles to absorb it, excess supplies. todd horowitz on the floor of the cme group in chicago, you are one -- senator brown pointed
out they don't hear anybody who is bullish on oil because momentum is firmly to the downside. you sound rather. when it comes to oil. >> the commodity space is pounded down. we found a pretty good level. i would be surprised to see 25. i believe big investment banks are buyers of oil, you remember how it goes on the floor. sandra: back to prices. extremely bullish you said this time. what does that mean? are we going to $50? $70? >> i cannot make a long-term call. i can see the next resistance is there any 2 to 34. i think we will be in the 40s this year, we are going higher but i can't make ridiculous call and say we're going to 70.
have to look at technical part of the chart. >> how do we get to 32? how does oil goes -- to move that up to that price? >> that is $2 a way. >> all of a sudden you concede that day. the boat is overloaded, there will be a short squeeze rally here. you can bet on it the next couple days. >> another picture going down the road. if the shorts drive it now there will be a pullback likely. jo lin: two questions. let iranian supply coming to market and the chinese demand complete the waning as well. how do those factors factor into the next three month? >> it has already been priced in. that is what has driven this down. don't forget, what everyone is not talking about is the strength of the dollar.
big banks are short, what happens when the dollar starts to fall? commodities go higher. what about all this cold snap, very often the big supply glut we are showing disappear and we note the big supply. sandra: to you on this, what are your thoughts? >> i have been listening and i am getting bullish on energy, long term future price of oil is around $50 because there are contracts taking place long term at that price, natural gas is being exported out of the united states, oil exported, we are in a brand-new industry after 40 years. we are the most reliable source of energy worldwide. that is why companies are doing 20 year contract with our american suppliers of oil and gas.
this is an entry point in a bullish sector and growth industry for america. sandra: thanks for weighing in on that. coming up, a software bug be putting your home at risk. we are all connected these days. the security of your wi-fi is now in question and what that might be sold in next. in new york state, we believe tomorrow starts today. all across the state the economy is growing,
with creative new business incentives, the lowest taxes in decades, and university partnerships, attracting the talent and companies of tomorrow. like in utica, where a new kind of workforce is being trained. and in albany, the nanotechnology capital of the world. let us help grow your company's tomorrow, today at business.ny.gov i thione second it's there.day. then, woosh, it's gone. i swear i saw it swallow seven people. seven. i just wish one of those people could have been mrs. johnson. [dog bark] trust me, we're dealing with a higher intelligence here. ♪ the all-new audi q7 is here. ♪
sandra: new decals on the americans who disappeared in baghdad over the weekend. >> developing story. fox news reporting three americans were kidnapped while visiting their interpreter's apartment, describing this as a, quote, brothels subject to frequent militia energy is that many people in the region referred to any building that accept any foreigners as a, quote, brothel and direct military officials the nasdaq was the apartment's use. 8261 inga 4 hover board, they selling board's stamped with a counterfeit 60 sticker signifying normally of prague has been a value waited for safety but the laboratory says it has not certified in any of their boards. according to the wall street journal hackers are no longer targeting your smart phone or your computer but now your
wireless ratter ended may be the back door and you're connected home. consumers are not updating their router software enough for upgrading it as often as needed leaving these devices vulnerable to cyberattacks. we know the most important thing you can do 40 of your security measures is at the software first. >> there is another thing you need to do. a lot of cybercrime comes from what someone does inside the company. they have sequences the issue with a the router. the router is the two everything. you to change your router password. used a secure a string. we forget the basics, where is the door that we close? >> for most people that is going over your head. >> construction in the sedna, i ran this -- >> what could somebody do if they are hearing the story and
some sort of attack, what should they do? >> change your router password. change it to secure pastoring, that when you have a password that the company no longer has inert system. mary nick like changing locks on your door? >> you put another block in place. >> what is wrong with the password that is on there? >> it iron according organization again to somebody in verizon, look what happened with the sony hat, somebody's ted purdy in the company let them get in. >> >> reporter: the pastor and a rather? >> trying to sell common sense. >> companies are doing so much
to get this done. >> reporter: on the phone with this guy, give me this computer, this number and nighttime i am doing this and that it is unbelievable the scams out there. >> there are easier ways to protect yourself, down the anti virus software for your cellphone that makes it safer and that little bitty save you a world of trouble. sandra: thank you. coming up a tennis match, we promised this story coming got. stars like roger federer and novak djokovic looking for a answers while making some shocking revelations about the sports next.
tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around.
>> roger federer demand officials the names involved in a tennis corruptions scandals. she read mack here with more on this story. everybody is talking about this. >> i believe the future of professional tennis is at stake. a scathing report claims over the last ten mears 16 of world's top 15 ranked players have repeatedly been flagged by the tennis integrity unit over suspicion they purposely lost matches. tennis fans discuss first-round offsets of rafael nadal and
venus williams in the astro arena open, top-down hundred dollars on the tennis world's about widespread match fixing scandal. tennis officials deny accusations they suppressed information about these players involved. the biggest name in tennis roger federer said yesterday if there's a list of names, let's see it. >> i would love to hear names. and at least it is concrete stuff and we can debate about it. who was it? is it now? is it before? it is still all over the place. >> reporter: the integrity of the game is always maintained because if not as he said why would you come to the stadium to watch the matches? andy murray was asked today if he was shot by a bomb shell report, he said no, not really. and the murray says i think it is a little bit hypocritical really. i don't believe the players are allowed to be sponsored by betting companies but the
tournaments are. i don't understand how it works. i think it is a bit strange and tennis needs to be proactive, education under players how to react if approached by anybody to throw a match is. what a scary state of tennis where we are. sandra: novak djokovic admitted he was approached in some way? >> for $100,000 to from a first-round match in st. petersburg in 2007 which he did not even compete in. you probably would have to throw millions and millions to get somebody even to consider but every man has his price and anybody can be had. in 1919 the black sox scandal, world sees, chicago white sox, eight players involved and barred from baseball but under were damaged approach them. the word was the elder of the white sox was achieved under and players needed money and they went after them and got them because shoeless joe jackson,
one of the greatest hitters in baseball history knew of the fix but did not part in it he was barred from baseball. roger federer says let's rename its. >> let's get this out in the open. >> not naming names we replicate what happened in major league baseball. there is a list out there with people last names on it. look at what happened, corruption in sports, i am a shoeless joe jackson and. i stood next to his house where he lived and died. if sports is approachable, we have to find ways, their suspicion. sandra: thanks, we are going to take a quick break but first, listen to this. >> let's hear what new york
that may put you at five times greater risk of stroke they can pool together in the heart, forming a clot that can break free and travel upstream to the brain, where it can block blood flow and cause a stroke. but if you have afib that's not caused by a heart valve problem, pradaxa can help stop clots from forming. pradaxa was even proven superior to warfarin at reducing the risk of stroke, in a clinical trial without the need for regular blood tests. and, in the rare event of an emergency, . . . . t . . re any plann . .
economic growth in a quarter century. 6.8% in the most recent kwa*uter. -- quarter. that is slightly slower but in line with estimates. it was the slowest economic growth for all of 2015 in 25 years. asian markets have are been rallying on the news. now up more than 3% in today's session. ready to move higher after friday's big sell off. you are looking at the sell off and 242 points and the nasdaq futures leading their way up 64 points. crude oil prices also moving higher this morning. they regained that $30 level earlier on. now still up 1.5% at $29.87 a barrel.
big news out of johnson & johnson a cut of 60% of its work force in the medical devices division. this is an effort cut $1 million-dollars from the company. winter appears to finally be here. a winter storm brewing targeting the five major cities. reports that new york city could see as much as a foot of snow this weekend. it's a sad morning in the world of rock 'n' roll, eagles singer glen fry passing away at thriller -- at the early age of 67. band mate saying he was like a brother to me. steve martin tweeting my friend of the early days and member of the eagles has died. we love you. donald trump and ted cruz fight for the republican
nomination. blake good morning. >> ted cruz launched his harshest critique calling him out by name in front of voters. cruz said immigration became a priority of trump after the businessman announced his candidacy. cruz also questioned his conservative credentials. >> where did you stand -- did you oppose it or support it? where did you stand on obama's stimulus plan? on both of those, mr. trump supported them. >> trump the who labeled cruz a nasty guy in the recent guys took break from scolding the senator. he took a break at an evangelical university.
>> i think we can surprise a lot of people by winning iowa and we will clean the table. >> as you know the focus have centered around these two as we are just 13 day ace way from the iowa caucus. it showed trump and cruz in a tie in that state. >> thank you, blake. >> let's bring in new york state republican party sherman ed cox. good to have you on the this morning. could donald trump or senator ted cruz, could they win in new york? >> yes. republican party has a huge tail in behind us in this election. you saw when we out did the polls in kentucky. he out did the polls by 10% when the vote came in. there's a huge republican going on that's going to end and if the markets are predicting
what's going to go on in the the future with the economy. that is a is sour economy. >> any republican economy can cover new york. >> we had the last gop debate in charleston and a couple weeks away from iowa. can can you characterize this race right now? donald trump continues to drive the conversation. he continues to dominate the polls. where's this going? >> it's not who dominates the polls now. it's who will win iowa, new hampshire an what happened in south carolina. that's the excitement. >> this is according to with the street journal national poll the margin over ted cruz, 13 points. >> the national polls is not what counts now.
if you have to realize the iiowa caucus was on january third. >> if somebody else does make a move, who would it be? >> it can be any one of the candidates who are on that main stage. >> ten the percent of the polling stage -- we have two tiers right now if you want to take the polls. you the trump/cruz top t t*eu er. you have carson, christie and fighting it for the rest. that's what's happening, that second tier is going to fall out. those people have to go somewhere. we are seeing two tier develop
but they will have to move swropl by the time we get to south carolina. >> you have to realize four years ago gingrich was supposed to -- >> you did all that and you have the same answer. >> it was rudy guiliani. the question what happens. this has changed since four years ago with the start of the tea party movement, people's eyes are more open. look, i just spent time with a couple thousand people in south carolina. activists from georgia, florida, south carolina, north carolina and they are saying we've changed and now we want more than, this is what happened years ago. >> that's what happened historically.
it's probably going to happen again. i think you see what happens in new hampshire and senator, this is a long process. you have some that are prepared to be in it in for it the long haul. you have some thapl are banking on iowa and new hampshire. if they don't do well they are gone. that will shrink the numbers. do you think this is going to be resolved by if convention or not? >> yes. i think it will be a contested first round and we decided on the the first ball hot going into that -- ballot. >> it's not going to be the kind of concerns people say it will be contested. >> the state american people learn the difference in the rules between contested and broker. there are delegates in new york it's a delicate fight.
>> i am looking for a lot of candidates remaining after the super tuesday on march 15th >> where is the party support for donald trump now? >> it's across the board. it's not just the conservatives. >> it strength appeals to people. he is winning on personality which gives him a lot of respect on issues. with respect to ted cruz, he's winning on issue. >> what do you make of hillary clinton sliding in the polls up against bernie sanders? >> bernie sanders is the closest there to a modern mcgovernmenten who couldn't win his own statement.
he is not a factor he's a farse. >> this seems like 64 -- >> sanders is not a factor. it's a lot of energy. >> there's so much energy on the republican side that this is the year where the republican party goes to the its heart. the democratic party did in 72. >> can we have a more constructive lively discuss next time. we are going the to have to separate you too. thank you so much. >> protestors demanding the governor of michigan resign over the water crisis. the details on this next. ♪ ♪
bend me shape me, any way you want me as long as you love me, it's alright bend me shape me, any way you want me you've got the power, to turn on the light shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store.
>> reporter: as frustration over flint's water crisis continues to boil. she getting ready for a legal battle. he'll join a number of residents as lawyers announce two new class-action lawsuits against the governor, former flint emergency managers and a host of state and local government agencies for their role in one of the nations biggest policy blunders that will impact thousand thes of people for years to come. >> after 30 days, the bloodstreaming goes in and takes about 10-15 years to do it maximum damage. we all have death sentences, simple as that. >> reporter: he lives here with his wife, daughter and three grandchildren. they are getting by with donations of water. batheing is kept to a minimum.
>> we shower once a week it's not a hot shower. >> reporter: the pace was in engine 61. they are handing out boltles waters. she is thousands of children that consume the contaminated water. >> we are going to take it to all the kids. >> reporter: many cover the medical expenses of led-poisoned children and governor schneider hasn't come close to addressing their concerns. so, he didn't come to print -- flint directly. who want to deal with poor. everybody consider poor here. >> reporter: they declared a
federal emergency in flint but stopped short of calling it a disaster. golf nor sh tphaoeud -- governor schneider is appealing that decision. >> if it took him to do that the as it did for him to acknowledge there was an emergency here. >> reporter: the lawyers will announce the class-action lawsuits tuesday afternoon a put hours after that, governor rick schneider will deliver his state-of-the-state address and address the the water crisis here in flint. >> thanks for that reporting. in is a developing situation there in flint, michigan. we will continue to update you. terrorists the targeting the super bowl. jo has this story for us. >> reporter: the fbi is investigating a possible terror plot. a new memo from are the fbi and
homeland security said they have a more come flex plot on the super bowl 50. the agencies are concerned they could use the severed cables to cutoff communication during the game posing a serious threat to safety. demonstrators shutting down part of the san francisco/oakland bay bridge yesterday. they were protesting on martin luther king day. traffic was blocked from the east bay as the holiday weekend was concluding. >> >> director spike lee and actress jada smith are asking to skip the awards because all the the actors are white for the second year in a row. her husband was considered to be a contend door but not -- con ten door but not nominated.
>> first of all, miss thing, does your mom not have a mouth of his own to speak? girlfriend there's a lot of -- going on in the world that you all don't seem to recognize, people are dying, people being being shot and you are talking about the some -- in the oscars. >> a lot of different viewpoints on the oscars coming up. >> alright, thank you. >> coming up, we are looking at triple digit games at the open as china announces further stimulus plans. what are they doing there? more on the global markets. the dow ahead of the open. . i thought i married an italian. my lineage was the vecchios and zuccolis. through ancestry, through dna i found out that i was only 16% italian. he was 34% eastern european.
dow jones industrial average up # 250 points a couple hours ahead of the bell this morning. we are looking at triple digit gaines. we saw china announcing more stimulus for its financial markets. we saw a rally in asia and that translated to a rally in europe and here at home. a flood of earnings as well. you are looking at bank of america the shares in the premarket. morgan stanly beating on their shares. they about a dollar on the the premarket. joining us is preinvestment officer katy nixon. there's so much news out, china earnings, all the things going on, oil prices, what moves you
the most? >> i think today was driving markets is the china story to be honest with you. people are worried about hard landing in china and the damping that would happen. the fact that we got some good news this morning. a number that basically met estimates and some policy action that followed i think is a sign of after little relief rally right now. >> you think you would be willing to call abbott tom in this -- call al abbott tom on market sell-off? >> it's great to see triple digit day and we were here last week and had a terrible day on friday. i think we will continue to see these sea -- seesaw days. >> how much does this fall the off of oil being in our stock market as well? it's below $30 a barrel this morning.
>> i think you will see continuing pressure ant the commodity an clearly energy companies. there's a big impact of the decline and energy. many people said early in these energy decline it would be a positive because it would be consumer spending. >> i think to see consumer spending improve, consumers have to have throng lasting -- they have to have throng lasting confidence. it's one of the reason we haven't seen this gin dividends -- dividends -- >> we brought this up earlier. the consumer has the money in their pocket. they are not feeling very good. whether we are talking about thing the around the world. market is declining over the last couple of months. people are not feeling good and will got spend that money if they don't feel good about it. >> anything you really like right now?
>> we had some great earnings out of some financials. >> good stuff. we are going to be right back. over 100,000 people just like you. visit legalzoom today. the legal help you can count on. legalzoom. legal help is here. glad i could help you plan for your retirement. alright, kelly and promise me that you'll try that taco place on south street. and we have portfolio planning tools to help you manage your ira. yeah, you're old 401k give me your phone. the rollover consultants give you step-by-step help. no set-up fees. use your potion. sorry, not you. my pleasure. goodnight, tim. for all the confidence you need. who's tim? td ameritrade. you got this.
hold-onto-your-tiara, kind-of-day. live 24/7 with 24/7 digestive support. try align, the undisputed #1 ge recommended probiotic. welcome back. i'm sandra smith. maria is on assignment. with me this hour is former massachusetts senator scott brown. diversified financialed a vie -- advisors and radio show those david west. >> the chinese government announcing a $600 billion in their market. china's gdp grew at 6.8% that was slower than the third the quarter but was in line with estimates. again, key with that number, all
of 2015 was the growth for china in 25 years. looking at asian market, a rally in today's trading session and back here at home, futures showing the markets are ready to move higher after friday's big sell off. remember yesterday was a holiday no trading. bank of neck the announcing fourth -- bank bank of america announcing trading. it continues to move hire in the pre-market and morgan stan any reporting fourth quarter resulting beating on earnings and revenue trades are near lay dollar higher. johnson & johnson out moments ago announcing a cut of up to 6% of its work force in its medical desraoeugss division. --. in the with a billion dollars in annual costs. and crude oil prices, we are watching them for you this morning, they have been up more
than 2%. still below $30 a barrel. we will don't watch that story for you. and turning to politics while the donald trump's ted cruz's speech. he trump is the subject of criticism for this the botched bible reference. one of the people i'm running against, this is such nice religious people. i love it. such great christians. i can't say bad. we are going to protect christianity. 2corithians. where are the spirit of the lord is -- right? there is liberty. >> the start to the season. look at this, winter is finally
here. a significant winter storm is brewing targeting the five major cities. reports that new york city could see as much as a foot of snow this weekend and the it's a sad morning in the world of rock 'n' roll. eaglele's of famer passing away at the early age of 67. band mate don hen i'll saying he was like a brother to me. first, china set to inject stimulus in its financial markets. we have the very latest on this an its impact. >> breaking news early this morning the. this after trading gdp growth increased in the fourth quarter meeting expectations but falling
from the third quarter. the expansion slowed down to 6.9% marking its slowest kpwro*ut -- growth in 25 years. chinese send federal bank -- central bank ahead of the chinese new year holiday. earlier the how hong kong index. an for investors here in the u.s. loving the news, dow futures with a positive start to the day with triple digits at 240 points. >> huh. as china points science of slowing, a higher of open on wall street this morning. you are look at dow futures up and s -- s&p up 65 points in early trading. we are also looking at oil tonight rise the this morning.
still up 1% and this after the iea the international agency worries that a further drop. this prices is likely as supply continues to exceed demand. that glut that we keep talking about. for more on the market i would like to bring chief market strategist. let's start with oil first. has oil hit abbott --. >> were seeing oil up a little bit rather than down a couple down a barrel. we have to talk about how to digest this additional supply. >> when you look at the markets -- techingty market, the stock mar can ket seems to be reacting to oil. what happens now? >> that's not good news. oil is an over supplied market. inventory is probably 25%-30%
above for this time of year. as they remain for some time probably for next year or so -- >> could we see $25 oil? >> i think we can. at a minimum -- i think the majority occurs but it's going to be volatile and jumping around. flay looking for some type of -- they are looking for some type of stability. we haven't had a chance oh the talk in the new year, the last time we saw this sort of rough start was back in 1991. we looked at the performance. by the tend of the year, the stock market rose double digits more than 20% after the significant drop. what are you forecasting on your end at this point? >> i think this is more like 2008. we saw a lot of the tight turns
last year in 2015. where the market had head winds now, so i think this market thereby significantly lower. i think somewhere in the 17 to 1800 range in the s&p 500. >> you are looking at the s&p of 1880. you are saying we could pal in the 1700? >> i think that's a possibility of that. >> what are you looking at the biggest driver particularly when it pertains to oil. even though they are saving all this money at the gas pump. they are not spending it elsewhere. >> well, i think they are spending it on more gas lean because they are driving their cars and buying bigger cars and seeing it in traffic an miles driven. but also the thing that i'm
looking at the most is production here in the u.s. due to a declining recount as well as some production shut ins that i'm expecting in canada. we are seeing in a country like oman where they are taking out their oil rigs. it's the su fly size that -- it's the supply size that are coming out this year. >> the projection for china oil imports is it will increase by 5% and natural gas by 8%. we have issues on a demand side for improvement and europe is not falling off the cliff at least not yet. we can see some improvement there on demand side. >> well, in china especially when they are selling 22 million cars a year. we see good demand growth for gasoline. we are seeing a lot of diesel
exports out of china. that is an indication of slowing construction growth. than will impact refining margins. >> i want to get you on on the earning side. morgan stanley better than expected earnings. the financialings seem to be a bright spot in the earning season. >> the group is down to a lot of pressure for the rest of the market for the pa* few weeks. the interesting thing is here most of the the interest rates arise for the interest margins. so you have this balance going on with global growth slowing with more rate hikes and the feds on pause now. >> what's the answer to that, by the way? the fed will be on pause. we had a great jobs growth. there is some strength in the
economy out there but we need to see more in industrial production. it's down year over year for the first time. it's down more than 8% last year. that's not a good sign. >> . the political landscape for you watching the stock market how much is that a factor in your decision if 2016? >> i think investors need to see the peeks and form here. >> is there any particular candidate that is more friendly than --? >> they want somebody who will be a good tax policy and be a good leader an not attack the individuals and set tax. >> do we really the put this on just the presidential candidates when policy comes out of the congress so when the candidates are looking to scott's point to 2017.
right now you are look at how these play out. >> i was wonering if there was a candidate that was better for the u.s. stock market. >> he will bring ap the jobs to the -- he said he would bring apple products to the united states. you don't know how things are going to shape up and the landscape has to solidify. >> when reagan came in he changed the tone of this country after the carter years. so one man can make a difference. >> wow. we will leave it on that note. thank you so much. >> thank you. >> coming up, the saga of general patreas may not be over. weighing new punishment. we have those details. >> an the the wife an sob of an fbi agent still missing in iran. they will be telling their
ordeal. marco rubio thinks it's unfair to criticize him for missing votes. "but i am going to miss votes, i'm running for president." but he's been missing votes for a long time. "one third of
all of his missed votes in 2015 were missed before he announced he was running for president." over the last three years, marco rubio has missed more votes... than any other senator. washington politician marco rubio. doesn't show up for work, but wants a promotion? right to rise usa is responsible for the content of this message.
treatment options that were not considered previously. with this important breakthrough at the intersection of science and technology, we've arrived at precision cancer treatment. the evolution of cancer care is here at cancer treatment centers of america. call or visit cancercenter.com to learn more about precision cancer treatment.
an intense search under way in iraq right now for three missing americans. >> iraq i security forces are searching a neighborhood where three u.s. citizens were kidnapped over the weekend. they were taken from the home of their interpreter. tensions rising in flint, michigan. the governor acknowledged that water crisis is a disaster but
says he will not be stepping down. many are calling for his resignation over his handling of the water crisis there. protestors picketing outside his home yesterday in ann harbor. the federal aid the city is expected to receive is a tip of the iceberg of what will be needed. >> there's a new report this morning that the pentagon will demote general patreas. they will talk act whether or not to maintain his position. >> jo, thank you. >> a block of danger cold temperatures moving toward the northeast. the fox news meteorologist will tell us what we need to prepare for.
is it coming our way? >> there's still a lot of uncertainty because we have a lot of days leading up to the storm an a lot can change. it looks like we can have snowful across portions of the the northeast. kit happen in many big cities including new york city. we have to talk about the cold temperatures. we have cold current windchill temperatures it feels like 1 degree and 2 in boston and in places like pittsburgh and chicago. it's dangerously cold out more and the high temperatures should stay below average for many areas even places like atlanta, riley and memphis. you will not take it out of the 30s. temperatures will begin to moderate across the eastern u.s. but will stay close to average ap what will set the stage for our next storm across parts of the northeast an come late friday and in to saturday.
a lot can change before then. we are going to be tracking another storm system that will impact parts of missouri and illinois and into tomorrow with light snow. we are looking at less than six inches of snowfall accumulation. we could be looking at heavier snow totals along the higher el elevations. >> coming up from the grid iron to the board room, -- there he is. okay, he's coming in to set. tault guys onset are yelling at me. he will discuss the transition he made from scoring touchdowns to scoring in this market.
welcome back. from football to finance. he made history playing 11 seasons with the nfl jets. now he's scoring in the news room. he joins u us in the studio now along with long time business partner. i am having name problems this morning. so, big question, what is the big play in the area of finance going from football to finance.
>> i got in the business eight years ago. the biggest thing is we started a sports and entertainment initiative. you see player, 75% are bankrupt or have financial distress. i think trying to get the word out and what they can do to avoid that. we started that an had some success and trying to make that transition from player to retirement so they don't have that problem. >> why is that transition so hard? we hear those stories so often. >> surrounding yourself with the right people. players tend to have their family members and friends do their finances and accounting work and having tax issues later on in life an they need to take care of that an not do that. >> what's the most important thing to help these players with? this is during play and post play. >> the biggest thing to understand is it's not a unique situation. it's like anybody else all of a sudden losing their job.
the only different is these tkpoeus made tremendous announce of money srapbd to understand that when it ends it should last them for the rest of their lives the, really. if you take a look at the markets over the last 30 years they have annualized. if you don't spend it today, you will have $17 million-dollars in 30 years. it will give you additional $850,000 in income. you make the choice now to buy an expensive car or blow that none as oh opposed to saving it. >> this is after this w*e had this crazy start to the new year. a lot of the average investors have been fearful that this is going to be an ugly year for the market. what do you do when you have a market that shows this type of volatility. you stay in it for the long
haul? >> when you talk to athletes the and we are competitive by nature if you say we are looking for face stuff or buy 6%-7%. they athletes don't want that. 50%, the home run. that's the biggest problem. from person the experience guys come to you and attach a big a-list actor to it or high profile the athlete it's the best thing. new investment, great idea an players are losing on that. >> congratulations, big pitchers fan. we are scared of you so con congratulations. you look at those young players he says he has saved every penny on his salary and working off his fees he gets from endorsements. is it the key to get these guys when they sign their contract -rb get them in anity insurance
plans and try to -- annuity insurance plans -- how do you break through that mold? >> it's tough. some time we have athletes that are second or third contract they get it. my career ended with concussions, done. i woke up the next day an they were retiring me, my career was over. i had three years left in my contract. i never made another dollar. you have to get past the family members and the first line of defense an it's hard. if you can get to them early and explain to them they don't need to buy that fourth house for everybody. >> it's a harsh reality. in your profession things can change that fast. >> it's all the sports, it's not just football. it's baseball and hockey.
it's the vast majority of being broke. what is the voice that makes them wake up? >> just person the experience. that's what helps my business. i've been there, it's not just retiring and not just financing but psych psychologically, i knt it's like to make that transition. you want to spend a crazy amount of money because you don't know what to do with yourself. i think i can can help out. >> thanks for coming many. your super bowl pick? >> i hike patriots -- i like patriots. it i hope they do something. >> alright. great to have you this morning. we will be right back.
this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card ...
celebrating the return of their loved ones. one family is still looking for answers. and here is president obama talking about the former fbi agent robert levenson believed to still be held hostage in iran. >> iran has agreed to deepen our coordination as we work to locate robert levenson missing from iran for eight years. even as we enjoy the safe return of others, we will not forget about bob. each and every day, especially today our hearts are with the levenson family and we'll not rest until they're howhole agai. sandra: let's bring in bob dewise, christine levenson and his son dan. thank you for having us. sandra: i don't think many people can possibly imagine what you're going through as a family. what did you make of the swap against the president and his administration announced this
this weekend and that your husband would not be coming home? >> we were devastated. absolutely devastated. we had no information that this was going to happen and we found out about it on tv just like everyone else did and it was very disappointing that they had not at least given us some information that this was going to happen. sandra: you find out about the swap and five americans are coming home, but not your father. what information, what is the latest information you received from your father? >> oh, from our father, we've never had direct contact with him in the almost nine years since he was abducted. we received a strange video and pictures back in 2010, late 2010 and then six month later in 2011, but the u.s. government has not gotten back to us since the swap date. we had one quick phone call where they apologized for not getting to us in advance, but nothing since. we have no idea what the next
steps, what the u.s. government is taking and trying to find out answers and trying to meet with the top level administration to find out what, now that the nuclear deal is struck and sanctions, what can they do to get our dad home. sandra: in preparation this morning, can we pull up the latest statement or anything we've heard from the state department on this. and secretary of state john kerry, the last time he spoke on your father and the search for your father was in december. and at that time he said iran is committed to cooperate with us to determine the whereabouts of robert levinson, you have no update on the search. what do you believe they should be doing to actively find your husband? >> everything they can. i don't believe it's enough. i know that the fbi has had an investigation and they've always worked very hard for us. they have a $5 million reward
out, but unfortunately, it's very hard to get information from that area and they have not received any leads. sandra: on that, the reward you're talking about is a $5 million reward for any information on your husband and your father's whereabouts, and you're keeping track of them on social media. you've got #whataboutbob to try to find out anything where your family member is. >> we're just an average american family and we've been throughout this, we want to show -- we want to make sure that my dad is not forgotten that ordinary americans and people around the world and the hash tag and raising awareness out there. we're not going to go away and not going to give up on this and keep pressing. sandra: for those who don't have the details of the story, your father disappeared in march, 2007, and at that time what did -- what was he doing there? >> he was working as a contractor for the cia and he
was meeting with a contact there, supposed to be 24 hours, all points-- all information and points he had checked out of his hotel and picked up by iranian security forces. in fact, iranian state media reported he was picked up by them. they've denied knowing anything about him since, but everybody believes the iranian administration knows where he is. sandra: he was working as a contractor with the cia. was there a payout. >> the cia admitted they were responsible for him being over there. my dad was the sole breadwinner, i'm one of seven children and my mom had no source of income so it was very difficult for her. so, she had-- they provided that settlement for the time being. sandra: so, it's hard to project where this is going to go from here, but this prisoner swap, does that make you-- it's a difficult question to
ask, but does it make you any less hopeful that the state department, that the president and his administration are tracking down your husband? >> no, i-- well, it makes me hopeful that they will do their best to get him home because they've promised that and i take them at their word. unfortunately, it will never be enough until he is actually here with us. >> we've been hearing the same things for years and years, the same thing that the secretary stayed in december they said the other day. they've had almost seven years, obama administration, the last two presidential administrations, it's ridiculous he's not home by now. sandra: very difficult story. so, if you have any information #whataboutbob is being used and the fbi is offering a reward. have you received any tips as to your father's health, whereabouts, anything? >> there are always tips, but nothing that can be confirmed
or proven. >> the fbi's investigating. sandra: all right. well, thank you to both of you, christine and dan for joining us this morning. i wish you the best and pray for your father and your husband. >> thank you. sandra: don't forget, mornings with maria starts every day 6 a.m. eastern on the fox business network and before we go to break here are some of the best moments from the morning if you missed earlier in the show. >> for the policies are not working together, government policy and corporate policies and that's a problem and that's global, by the way, because they're buying america. everyone is trying to buy america. >> thank goodness the fox debate came soon after and neil and maria kind of raised the bar which that bar has still been set recently by what you and they have done. >> part of my prepping for the debate i was looking at the candidates' layout how they plan to protect us from these types of attacks. have you changed the password on your router, jo?
>> doing it right now. [laughter] it's not that hard, actually. >> there's a huge republican groundswell going on that's going to-- and especially if the markets are predicting what's going to go on in the future with the economy, we're going to -- that is a sour economy, the president's party suffers from that, we're going to do very well. >> welcome back to another tennis channel court report, a special presentation of fox business. day two of the australian open saw american success and disappointment as the first major of the year hit top gear's down under. venus williams was the big upset of the day. the number eight seed was taken out by the british number one.
american going down in straight sets after a disappointing display against the 24-year-old who enjoyed one of the biggest wins of her career. and the top ranked american john eisner is safely into round two. the number 10 seed advancing with comfortable win. don't forget, tennis channel has live coverage of the first major. year at 6:00 daily eastern. iall across the state belthe economy is growing,day. with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in the hudson valley, with world class biotech.
>> we're getting new pictures of el chapo behind bars once again in a mexico prisonen. jo ling kent has that. jo: good morning, cameras and trained dogs, some new features installed to prevent kwa joaquin guzman el chapo, at random to stop any escape attempts. >> and trader joe's was contacted by a supplier of possible problems with the cashews, no illnesses have been reported. and several disruption from the
300 million users, it's not clear what caused the disruption of twitter, but they're working toward a solution. and white castle gearing up for valentine's day. it's accepting reservations on valentine's day, sunday, february 14th, in case you don't know from 3 p.m. to 9 p.m. the dining experience includes hostess seating and table side service. sandra, got to know what you think about this. [laughter] >> first of all, we showed pictures of champagne at white castle? >> it might be b.y.o.b. sandra: david says sign me up. >> this is our first burger chain in america and a great place. in high school we used to go to white castle for late night food, castles. >> it's not going to work in my household. sandra: love is back in the castle. thank you, jo. the battle for the presidency
is heating up as rival g.o.p. candidates donald trump and texas senator ted cruz fight for the nomination. blake burman has the latest. >> ted cruz launched his harshest critique yet of donald trump calling out the front runner by name speaking in new hampshire. cruz says immigration became a priority by trump after the businessman announced his candidacy and cruz questioned trump's conservative credentials. >> where did you stand on the tarp big bank bailout? did you oppose or support it? why did you stand op obama's massive stimulus plan, on both of those, mr. trump supported them. >> trump, who has labeled cruz, a nasty guy, made a break from criticizing him. and he made a prediction at liberty university.
>> we've done great with evangelicals, the tea party is amazing and i think we could surprise a lot of people by winning iowa and we're just going to clean the table. >> and trump has this evening what he is called a major endorsement to be revealed later today. and sandra he will make that announcement in iowa, back to you. sandra: all right. blake burman, good to see you last week. >> great to see you, too, great to see everybody in new york, jo ling, everyone, lots of fun. sandra: and joining us now is hoover institute senior fellow tim kaine, good morning, tim. >> hi, good morning. sandra: how are you feeling about the economy these days? if you listen to the democratic debate or the president, they're painting a pretty rosie picture of the american economy, how do you see it? >> oh, boy, it's a dicey economy. common sense knows that. i'd call it, i guess in two words, it's overstimulated and it's underperforming, so the real question, are these guys
going to stop stimulating?. >> well, you answer that question. we're talking potentially another fed rate hike, that would be contrary to what you're suggesting? >> no, so the fed right now is in the stimulating posture. normal rates are probably around 2%, but the fiscal side is the real concern. i was looking at the numbers, this is the first modern election where the debt ratio to gdp is over 100%. this hasn't happened in, like since the great depression. nobody's talking about debt. in fact, they are talking about rolling out plans a trillion dollars more-- >> i have to interrupt you if you watched the fox business g.o.p. debate last week i asked on stage of three candidates, huckabee, santorum and carly fiorina, i asked governor huckabee and carly fiorina how they can say they're going to tackle the nearly $19 trillion debt in this country when they're not willing to address entitlements. that's an issue. >> absolutely.
you know, the conversation, unfortunately, is when it's not about how to build fortress america and cut us off from the world, thanks to mr. trump, it's a conversation about taxes. i'll give them credit. there's substantive on the republican side. if republicans get elected there will be fundamental tax reform. the democrats, i'm not hearing any serious conversation. >> it sounded like a little bit of a dig at donald trump, do you not think he would be good for the u.s. economy? >> he's completely unpredictable. no, what he said about trade is just bad. i mean, a 45% tariff on china and now saying apple is going to have to-- >> he didn't commit to that in the debate. he didn't commit. >> what we're getting here, tim, and what we've seen from out of the candidates, with all due respect, we have a good field running. we have a field that's more diverse, but we're looking at people that are giving you press conference answers and sound bites. the american people are concerned about the how.
you've got to start making your case for a vision for america and how you're going to do it. ronald reagan won on a vision, what he would put forward, he teamed up with bush after they fought each other. we have a bunch of guys fighting each other and i look and say how are they going to team up and win? >> pretty simple, in the scheme of political battles over the years, that being said, every candidate in the republican side is putting out a frame work. that framework will actually be taken by, obviously, paul ryan with his plans, and the members of the senate, providing we keep the senate as republicans and that's a good framework to try to get some certainty for the american people. >> i agree, but the problem is when you try to do tax reform, real tax reform in congress you're going to have both democrats and republicans fighting on policy. >> sure, that's why everyone says i'm going to lower this to this and flat tax and-- >> the how, and quickly to tim's point, i think we've glossed over it. stimulation, we're not getting it here in the united states.
we're having the fed raise interest rates. look what's going on in europe, europe is stimulating the heck out of their economy. china this morning announced stimulation and japan is in a stimulus mode. what happens in those world economies, which represents basically two-thirds of the world economies, affects us, affects our interest rates, affects the value of our dollar. sandra: tim, i've only got five seconds left. which of the candidates, if tax reform is so important, which of the candidates has the best tax plan? >> among policy wonks, jeb bush has been the most serious. but voters aren't in the mood for serious right now. sandra: he did it in five seconds. i asked for it and he delivered. tim kaine, thanks for joining us this morning. >> you bet, thanks. sandra: dow futures pointing towards triple-digit gains on the open. look at 225 point gain in dow futures, 40 minutes from the opening bell. s&p 26. we'll have the latest from the floor of the new york stock exchange ahead of this tuesday
morning open, but before we go to break, take a look at this can't-miss clip. a miami valet decided to go for a joyride in one customer's lamborghini only to cause the super car to catch fire. you're looking at it. n mobile rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this.
>> welcome back to mornings mornings. i'm nicole petallides live on the floor of the new york stock exchange. with the u.s. futures pointing higher to the town of 230 points and the dow has been down 1500 points the last week. oil is down 20% for the year this year as oil holds, we're seeing up arrows and china has news and more stimulus after the gdp. banks are front and center. bank of america fourth quarter profit rose 9% and that stock is looking to the unside and
blew an amp.but good nights. sure,music's why we do this,but it's still our business. we spend days booking gigs, then we've gotta put in the miles to get there. but it's not without its perks. like seeing our album sales go through the roof enough to finally start paying meg's little brother- i mean,our new tour manager-with real,actual money. we run on quickbooks.that's how we own it. as long as you love me, it's alright bend me shape me, any way you want me you've got the power, to turn on the light shape the best sleep of your life.
>> big morning, guys. final thoughts, who wants to start? david webb. >> oh, politics is a blood sport and it's heating up in new hampshire and iowa. it's been somewhat civil. we're looking forward to ted cruz coming here and then i'll make a decision next week. for people who are nervous about the markets, an opportunity if we hit 1870 on the s&p, we bounce off. could get a 5, 10% rally. if we break through, go under under 1870, could be a 5 to 10% lower, watch that number carefully and then make a decision. sandra: actionable advice. i like that. go ahead. >> this is what i wrote last night when i thought about
today and frankly plays through. the economy, potu schs, russia, china, isis military middleup. the europe middle east arms race which began with this deal. that's a recipe for disaster. we have challenges ahead us us and we get leadership. sandra: my fafvorite spot of the moment, ed koch next to you. do donald trump and ted cruz have a shot in new york? >> the same answer and called him on it. i love it, you're the best. sandra: you guys are great. good luck back yard barbecue tonight, always good to have you, always good to see you, dominic. coming up tomorrow "mornings with maria" headed to davos for the economic foreman, we're joined by steve swartzman and
nissan renault ceo carlos ghosn and actor kevin spacey will be joining. you do not want to miss that. please tune in. "varney & company" is next, ashley webster is in for stuart varney this morning. good morning. ashley: i am indeed. stu is out all week and here is the story. there isn't it. the markets are waking up from a three-day weekend, a much-needed breather with a vengeance. triple digit stock rally even though the news out of china isn't exactly great. oil is up as well, breaking above the $30 level earlier. right now at 29.52. we'll get into oil as well. linda tripp, remember her? a thorn in bill clinton's side. and her claim once again, bill had affairs with thousands of women while in the white house. and remember cnbc's failure of a debate, more fallout from it even months later. oh, yeah, we're not above a little bragging here on "varney