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tv   After the Bell  FOX Business  December 14, 2016 4:00pm-5:01pm EST

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seconds away from hearing closing bell. the. [closing bell rings] the dow seven-session winning streak over, the federal reserve hikes rates for second time since 2006. vid and melissa, "after the bell" is yours. melissa: whiplash on wall street as markets digest the first interest rate hike in a year and only second in a decade. the dow on a wild ride, 217-point swing this afternoon. all three major averages now ending in the red. i'm melissa francis. david: i'm david asman. we have you covered on market movers and fed's outlook for the economy. here is what we have else for you this hour. trump's tech summit going on. holding a historic meeting with titans of the most valuable companies in the world. many silicon valley leaders opposed donald trump's election but now they have to work with him. we're live at trump tower for an
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update. china threatening to smackdown a u.s. automaker. is this retaliation for trump's taiwan call? we'll ask trump economic advisor steve moore how the president-elect will respond. melissa: back to the markets. the dow snapping a seven-day record winning streak, ending down 117 points. we're down more than 200 point away from 20,000. exxon, caterpillar, dupont are among today's biggest drags. oil plummeting as well. phil flynn, price futures group has what you need to know from the cme. ashley webster is on the floor of the new york stock exchange. and, ashley, everyone expected the fed to raise rates so what was it that janet yellen said later you think spooked these markets the most? >> that's a good question. put away the 20-k hats for now. i think the fact they recognized that more stimulus to the economy may require more rate hikes. we put two next year. fed saying three an possibly more.
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that was kind of threw cold water on the rally. if you look at the chart, it went up a little bit right at 2:00. we knew the rate hike was coming in. when reality set in there women be at least three, maybe more, at least that's what the fed thinks, that's when banks and stocks that led the way started to dive down. you see that pretty well. pretty choppy afternoon to say the least. no doubt about it, there was sell youoff, selling on news and buying on rumor as they say down here. that was pretty much the story once we got word the fed was aware that the economy was heating up and maybe three rate hikes or maybe more could be in store. so which sectors got hurt by that? talking about raising interest rates, home loans get more expensive. homebuilders moving lower uniformly. kb, d.r. horton, pulte homes. hard as it is to get a mortgage, now they're getting more expensive.
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financial quickly went up and sharply down on news of more rate hikes. bank of america bucking the trend. wells fargo, citigroup also moving lower. wanted to mention exxonmobil, announcing that rex tillerson, the current ceo will retire at the end of the year. of course he is the pick from president-elect donald trump to become secretary of state. his job will be taken over by darren woods, incoming chairman and ceo. what an interesting day. no dow 20,000 for now, guys. back to you. david: ashley, thank you very much. oil breaking a four-day winning streak, one reason exxon was down, dropping 4%. for oil it wasn't just the fed, was it? >> it wasn't. it was about oil inventories and concerns about opec, maybe just the international energy agency might be too excited when the market will get in balance. they tried to kind of cool down expectations which is really unlike opec but theysured did. we saw a report that showed u.s. energy production did edge up. we know producers are responding
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to higher prices but let's face it, at the end of the day was rising dollar. when the dollar started to soar, it killed oil prices killed oil rally and it killed gold as well. interestingly enough, here we are talking about higher energy prices. if we look into the future we actually had our reserves cut by the energy information administration because of low prices. the oil we thought was there, it is too expensive to get, so we need higher prices to get the oil and gas. back to you. david: gold down 16 bucks at last count. thank you very much, phil. appreciate it. melissa. melissa: federal reserve raising interest rates for first time since december of 2015. only second time in last 10 years, sending stocks tumbling. dow 20,000 even further out of reach. all-star panel joining us, very impressive to react to all this. former economic advisor to president george w. bush, glenn hubbard. former obama economic advisor, austan goolsbee.
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former federal reserve advisor danielle dimartino booth and research fellow tim kaine. we could do a whole hour with you four at least. start with you, tim, did you agree with the fed's characterization of what the economy looks like right now? they're talking about seeing some rising inflation, solid job gains, close to full employment. do you agree how they view the world? >> tough so say. i feel like the rate move was better late than never. i'm happy they finally got the message, when the unemployment rate dropped by a third of a point. this should have happened nine months ago. i think they have erred on the side of stimulus for years. finally seeing them predict, they will head toward normally, which is 3% interest rate in the long term. yes, i'm glad they're here. melissa: danielle, do you agree with that? >> i found it to be interesting, especially comments janet yellen made during her press conference.
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she alluded to the fact that the economy right now does not need fiscal stimulus and does not presumably need that infrastructure spending that would come along with it and higher-paying jobs so many people who voted for trump wanted. she also spoke down regulatory changes that i think trump will also try and push through. so i think today if anything, the fed showed it was not necessarily going to be a friend of this incoming administration. let's hope he is not watching the press conference replay in the middle of the night with his twitter handy. melissa: that's a good point. glen, a lot of people heard that. that was a lot of the chatter online, her read on the economy. was that it is very rosy. is it really that rosy? is she sticking it to donald trump, what do you think? >> i don't think she is. there is considerable uncertainty what the policy will be, what deficit impacts of any policy will be. the economy is improving. yes it was time to raise rates
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but i think she can be very measured in rate increases going forward until she sees what the new policy will be. i think new policy, particularly regulation and tax could be very pro-growth, whether it raises the deficit depends how it is structured. i think rightly will wait and see. melissa: austan, she talked about three rate hikes more than market was indicates. they were thinking two. in the past they always haven't made good on promises and rate hikes will be out there. many do you think are appropriate? >> well, i probably of our panel, i've been most resisting the fed getting into the business of raising rates because i still want to be certain that we're on a sustained growth path because over the last six or seven years we have multiple times we're warned of imminent inflation and we're about to take off, it doesn't happen. keep muddling through.
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melissa: never materiel ices i agree with you. >> how many rate increases we'll have depends critically whether donald trump pass as giant tax cut at the very beginning of his administration. if he does that i think you see more increases from rates coming from the fed. they will be worried that will overheat the economy. and what i fear is that we're on a collision course, not unlike the one that existed in the 1980s where donald trump, though he has been criticizing yellen for keeping rates low, suddenly will become enraged when she begins raising the rates and dollar start appreciating and trade deficit starts getting worse, and i have some concerns about the independence of the fed at that point. david: well donald trump has made it crystal clear that he want to change both the membership and responsibilities of our central bank. his designated treasury secretary already planning for those changes. >> well, first thing is, we do
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have two positions that we have to fill at the federal reserve, two governors. david: so, dean hubbard, two governors right away appointment by donald trump. then in 2018 you have both janet yellen and stan fisher, co-chair leaving. so that will be four. how is that going to change the fed? >> well i think it could change it significantly. i would expect that the president, the new president will appoint people with a more modest view of the fed's role, and people who have perhaps a different view on financial regulation. one position to be appointed is the vice-chair for financial supervision, terribly important, not exactly a house hole name but a very, very important job. i think you will see changes but i think you will see very good appointees. david: that is job hasn't been filled. it is a part of dodd-frank. >> correct. david: that is the point, dodd-frank gave fed all extra responsibility. some say they have misused that, particularly with zero interest rate policy.
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>> i think the constitution argues for the fact that they have misused that power. that speaks to whether or not, if that position is filled, if daniel turullo running this part of the fed steps down as well. you end up with a fifth vacancy. it will be very interesting to see. trump right now has the opportunity to put janet yellen's successor in as one of those governors. it would not be uncalled for him to do that. david: by the way, danielle, before you go, trump said during the campaign that essentially yellen was in cahoots with president obama for the zero interest rates because made it so cheap for the government to borrow money even at cost of hurting millions and millions of savers out there. what do you think of that charge? >> oh, i don't think there is anything unfounded in that charge. ask anybody who is in retirement years. ask any pension fund managers. he low interest rates have absolutely ravaged the baby boomer generation. trump was completely justified in what he said. david: austan, what do you think of that?
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>> well i just think he's going to reverse his position almost immediately. he criticized her for the rates being too low. if he appoints governors who will raise rates, he is then going to be furious that the higher rates are slowing growth in the united states and increasing the trade deficit. he is going to need to make up his mind. david: tim, back in the early '80s we saw president reagan, who had a big changing economic policy, lowering tax rates, lowering regulations, he stood by paul volcker as paul volcker raised rates, even though it caused a very bad recession. do you think trump has the stamina to stand by and see rates go up even if it does slow down the economy somewhat? >> i do. i think we should have faith until we see a mistake and i think president-elect trump has been saying the fed should stick to what the fed is doing, monetary policy, focus on inflation and focus on m you made in the past, federal
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reserve, which is creating asset bubbles. that is the other danger of keeping interest rates real low. you don't see the bubbles ahead of time until it is too late. we've had five years of interest rates extraordinarily stimulative. we don't know where the bubbles are but we know they're out there. david: i don't know how stimulative is when you have growth rates in less than 3% everyone of those years with zero interest rates. that is the real question. thank you to all for joining us the appreciate it. melissa: tech summit in trump tower wrapping up. some of the biggest names are leaving the building after the close-door meeting and executive chairman and ceo google's parent company, alphabet and eric schmidt and larry page. more on this meeting coming up. the future for the dow, stocks snapping a seven-day streak of records raising questions whether or not the fed's rate hike is bump in the road or signal that investors are getting tired of the trump rally. nah. gary kaltbaum of kaltbaum
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capital management, a fox news contributor. veronica daguerre from the "wall street journal" as well. gary, start with you. a little bit of a selloff. is that an opportunity or beginning of a trend? >> i think you have got more to go. look any market that needed to pull back is this one. it has been en fuego since november ninth, especially financials and industrials. markets do go down. it's a normal course of business. too far too fast but a little more to go. melissa: veronica? >> goes to fact, investors, average folks should never time the market. some people out there we're saying we hit 20,000 today. guess what? it didn't happen. don't try to time the market. stay to long term financial plan and expect more volatility. that is only thing we can guarranty going into rest of this year and into next year. melissa: gary, this is really a sign of growth. that is what fed is saying, is that it is finally safe, finally get in there to do that.
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a lot of ways it should reaffirm where market is heading. >> i don't put a lot into what the fed predictions. they have been wrong basically forever. melissa: there is that. >> i think what they're doing is catching up. interest rates on the long end have spiked over the last few weeks. they got to play catch-up. the end of the world is not at hand. they're just far behind. the other thing they have to do is be nicer to savers. they have been screwing savers for eight years. and about time people make money on riskless income investments. david: i'll say. to see whether trump will deliver on his promises to cut taxes and regulations. veronica, a lot of people look at the appointment, tax cutters are not getting appointed, people like larry kudlow, steve moore, who will be on later on. we'll ask him about this that is the point. he made all the promises. the market believes in promises. that is why we have the rally but will he deliver?
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>> that is the big question, the trillion dollar question. you can propose something but what actually gets enacted could be entirely different. we'll see what happens. he has congress he hasn't worked with before. members within his own party who are deficit hawks. david: that means they're more reluctant to go along with his big tax cuts. >> that's right. they may not be so happy about that. not to mention all the fiscal spending he is proposing. they may want to pull back on that as well. there is a lot of uncertainty about what is going to happen within his administration. david: gary, the market baked in promises but he has got to deliver now or maybe it will continue to go down? >> if donald trump announced tomorrow that they're going to leave dodd-frank alone, you will see financial stocks drop 10% tomorrow. david: not going to do that. but the question is will he come in like gangbusters and get those tax cuts in there right away after he is inaugurated? >> i think they're going to try
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you but look, again you have to deal with your own party. you have to deal with a lot others. i have sneaking suspicion it will not be as big or quick as everybody said which is not good news for the market. corporate tax cut has to be done first. a lot of movement in the stock market is corporate tax. hopefully they put that out front and center. david: if they do that there is political price to say. typical republicans they only care about the businesses. what about the little guy? what about the average guy who was promised that his taxes will go down as well? they're just giving it to the big companies. >> right, may not be politically popular, however all the financial advisors i speak to say small business owner client are very excited about what he is proposing in general. we know small businesses drive so much of the economy. and because they haven't been able to hire because of high taxes, high regulation, they have been pulling back. hopefully this will give them a chance to move forward.
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like i said, so much unknown when it comes to taxes. david: right. >> also foreign policy, everybody's taxes have to go down. that is a mandate from asman. putting it out there. >> i would love that. melissa: amen. david: medical list a agrees. melissa: i vote for asman. i like that idea. david: thank you very much. >> trump has two cabinet positions to full and a whole lot of challenges ahead of him. who he is is considering. the controversies behind them. david: a major emblem of the 2016 election could be immortalized. details of a new white house petition to honor a very popular phrase. melissa: popular. president-elect is wrapping up a meeting with the tech titans of silicon valley, most didn't support him in the election. now they will all have to work together. details from the historic meeting next. >> anything we can do to help this go along and we'll be there for you, and call my people. you will call me.
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>> president-elect meeting with giants of silicon valley as tech titans show up to trump to youer to meet with donald trump, a man they did not support generally speaking. connell mcshane has been at trump tower keeping eye on who is coming in and out of those golden the veiltores. hey, -- elevators. reporter: david it was an interesting day. we take you inside of the border of trump tower to show you the access. you see mr. trump sitting in the middle of that boardroom table there. right to his least, peter thiel, billionaire investor supported him. continued to support him. tim cook of apple next to him. a lot of big names in one place. cheryl samburg next to vice president-elect mike pence as an example.
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trump thanked thiel for all the support he gaven him. interestingly enough he said this watch. >> i'm interested in helping you folks do well. you're doing well right now. i'm honored by the bounce. they're talking about the bounce. everybody in the room has to like me a little bit. reporter: like him a little bit i guess. seems aware, to your point, david, they are executives that didn't see eye-to-eye with him on policy issues during the campaign. with the cameras still rolling, mr. trump went on to say he wants these people to stay in touch. give him a call, give his people a call, anytime he would like to. the way he put it was, we have no chain of command around here. they can get in touch with him whenever they want. they made a brief mention of trade just before the cameras were ushered out of that room, david. that was important issue to him during the campaign. i would assume important eshoo to many executives as well. david: indeed. i'm glad to see traffic moving on fifth avenue.
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finally shoppers get through. reporter: good. david: connell mcshane, good to see you. melissa? melissa: joining me from the new york stock exchange, john steinberg, the ceo of cheddar. thank you, sir, for joining us. what do you think happened today at tech's roundtable? a lot of people there were not supporters of donald trump, very vocally so, during the campaign. they have come to the golden tower. why do you think that is? >> i think we'll pretty much hear whole entire story within a few hours. trump leaks out whatever he does in the meetings, whether real or dramatically improvised. so i assume it will leak out. probably he gave someone or multiple people in the room some form of shellacking not unlike he did to jeff zucker when he did media roundtable a few months ago. melissa: sounds like you're not a fan. >> i knew you were going to say that. his view what he wants to say to the economy, done on floor of new york stock exchange, it is right view. the market vote with his index, allowing for repatriation of
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cash, corporate tax cuts, bringing jobs back to the u.s., the market is in favor. i have more balanced opinions. i think i have a more he. melissa: like what? he was bashing last time, reports came out people said this didn't happen about the back and forth with media that came in. you would like them to just start a twitter war with the president? >> i mean, i have analyzed this. i think that trump doesn't like it when you personally attack him. but when you fight on topic it engenders a form of respect. kellyanne conway one much his most trusted advisors going out on twitter fighting against romney. example i'm giving all day, said something tim cook should manufacture iphones in the u.s., tim cook should put on twitter, trump doesn't understand how iphones are made, very sad, exclamation point. that is kind of mixing it up he wants to see. he is business guy.
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he likes scuffles. he doesn't like to be personally attacked. melissa, i'm balanced here i think he is develop actual good for the economy. a lot of his tack kicks seem -- melissa: let me push back on that a little bit. his tactics gotten attention of many different companies who immediately say, okay, his priority is to keep jobs here. i mean that is a point of information. then you could say, well if you want me to keep the jobs here is what i need to in order to get that done. you walk in with your list of things. i'm not just talking about just tax accommodation. listen, that es are the problems that we have. we're not getting workers with right skills. you need to change the visa situation. you need to make sure energy is cheap. you need this specific regulation off our back. it is negotiation with him, is it not? and you have ibm walking in the front door saying guess what, we'll put 25,000 jobs on the table this new, new caller jobs. sounds like progress. >> i'm on the same page with you. look, not many people in my seat
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who run new media startups in new york city have a favorable been of donald trump. i give him credit for the deal for investing billions of dollars and carrier. i think he will bring jobs here. the style is rough-and-tumble style, not dissimilar from what you and i used to in the media world. these people should do what they're saying. fight with him, speak their mind. they shouldn't cower and go behind his back and talk stuff. fight directly at him. melissa: john, i love you, you're very fiesty. will you come back? >> i love it. i speak my mind, anytime. melissa: excellent see you soon. >> okay, bye. david: feisty and open-minded. best of both worlds. breaking news out rnc, the republican national committee naming michigan republican chairwoman rona mcdaniel. rnc deputy chair. ing interesting thing here,
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melissa, ron that romney mcdaniel. her maiden name because she is a niece of mitt romney. kind of interesting, she was going to be the chair of the rnc. now she will be co-chair. melissa: fantastic we'll be right back.
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david: so is china starting a trade war? a chinese official today warning the chinese government may slap a penalty on a specific u.s. automaker for possible price fixing. a spokesman for the trump transition saying he expected president-elect to discuss the matter with commerce secretary-designate wilbur ross this afternoon. steve moore, trump economic advisor and fox contributor joins us right now. the trump administration has to respond, don't they, steve? i'm wondering how? >> well, first of all, david, i don't think it is strategic move for china to be, you know, launching a little bit of a trade war here because you know, donald trump is going to get tough with china. we learned that a couple weeks ago with the taiwan call where he is basically calling out
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china and saying, look we have leverage over you. david: let me just stop you there. is it because of that phone call? some people say that is why the chinese did this. >> it is tit-for-tat. probably. i don't know what their motivation was here. this is little bit tit-for-tat. it is interesting all sorts of reports from various investment groups that are talking about the possibility of a trade war and who comes out ahead in this. what is interesting almost all of the reports that i've seen, three major reports from investment companies saying look, china has much more to lose here than the u.s. does. david: sure. >> david, i don't want a trade war with china by any means they depend on our economy much more than we depend on theirs. david: wilbur ross is being consulted. is the tip of the spear as commerce secretary? would he be one delivers messages as tough as they might be to the chinese? >> for now he probably would be, david, correct me if i'm wrong, i don't think donald trump named a u.s. trained rep yet. david: that's true.
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>> in that case, wilbur ross would be the one. wilbur ross has been tough on china his rhetoric as well. david: he also has done a lot of business there, so he knows how to negotiate. let me talk about appointments. a lot of people are disappointed, that you haven't been appointed you are not officially part of economic team or larry kudlow or lot of supply-siders, there are worry so many wall street guys, not real tax cutters, not regulatory cutters, not known as such. that is what you built your career on and so are others. are you concerned, are you concerned that tax cutting and regulations might take a back seat to other concerns of the administration the first 100 days? >> well, a couple of things, david, first of all i would never give up my fox contract to go to the white house. that is off the table. david: you're a good patriot. i know you would, by the way but go ahead. >> here is an interesting point. first of all, keep your eye what happens next 24, 48 hours. i think you will be very, very happy with the a couple of
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people going to be picked for some of the economic positions. not confirmed yet. david: tell us more. tell us more? melissa: we want to know about that. >> teaser here. i think some good news. david: 24 hours there will be major economic appointments. >> 24 to 48 hours. just speculating here but i think we'll get god news. david: interesting. >> i have not met cohn, so i know nothing about him. i have worked with mnuchin who is the treasury secretary, steve mnuchin, i think he is great guy. he gets it. he is supply-sider. not part of supply side movement. david: first 100 days we'll have tax reform plan set out? >> oh, well, the question could we get something passed in 100 days. give us 150 days. david: okay. >> there is so much momentum. you heard about how important repatriation is of capital. that will be, i'd like a jobs program right out of the gates. i'm in favor of doing that business tax cut right away to get jobs -- david: breaking news from steve moore.
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some major economic announcement. >> stick around. stick around. david: next 24 to 48 hours. >> doesn't involve me, really a great supply-sider. melissa: oh. twitter feud might be starting. twitter ceo jack dorsey noticeably absent from trump's tech meeting today. senior trump transition official saying twitter was intentionally left out because they aren't big enough. david: wow. melissa: donald trump's favorite tool. david: it is. but maybe not his favorite company. looking to start a new holiday tradition? might be awkward but your grandma might be looking to be your wing woman for dating this holiday season. melissa: oh, my goodness. david: kind of cringe worthy. want to hear about it. donald trump looking across the aisle during his cabinet search. why are democrats upset about that?
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melissa: whiplash on wall street as markets digest the first interest rate hike in a year. only second in a decade. all major averages ending in the red. the dow breaking a seven-day record streak. david: well only two cabinet positions left and president-elect trump is set to fill the prominent roles well ahead of inauguration day. even considered senators across aisle but some democrats getting desperate to stop this happening from fear of losing senate seats. fred barnes, "weekly standard"
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and christie sightser is new heights communications president. fred, breaking news that we broke couple minutes ago, steve moore saying 48 hours there could be a very key economic position, not cabinet level, subcabinet level might be announced. any thoughts on that. >> there is one that is open, chairman of the concerns sill of economic advisors. and the person who trump passed over for the job of heading the national economic council which went to gary cohn, that person who he passed over is larry kudlow. larry kudlow is great economist, great supply-sider, someone who helped draft, one of major guys writing economic plan that trump has. and i think it would make a lot of sense is right. >> if he became the head of the council of economic advisors. david: just sticking with this for a second, fred, doesn't the tax plan they have outlined, cutting tax rates dramaticking both for corporate and personal need someone like kudlow in
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there, real supply-sider pushing those things through when wall street guys don't seem to care as much about it? >> absolute are it matters. personnel is policy is the old saying. you want somebody that will be your personnel to be pushing a policy they believe in. i'm old enough to happen what happened in the reagan days when he had 30% across the board tax cut and there were a lot of people working for him, not believers in it, hacked away at it and delayed, they allowed the recession by stretching out the tax cuts with the recession to last longer. david: i remember too, brother. you're not alone in that category. i'm sure christie doesn't, on to what is happening today, trump is trying to bring democrats into the fold. one of those is senator heidi heitkamp from north dakota. she seems reluctant a lot of pressure from the democratic party not to step down because she might be replacedded by a
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republican. >> i'm skeptical that trump is actually going to want to nominate someone like heidi heitkamp. i think that for all his talk about bringing both sides and being an outsider, it seems as though his more moderate names have been floated for different cabinet positions including most notably mitt romney have not actually been people who have been picked. i'm actually pretty skeptical he would choose her. david: okay. that said, look, they have good reason, to if in fact she were seriously being considered to say no. that is state, north dakota are the democrat really need hold on to it will be very difficult. david: christie, keith ellison? >> yeah. david: this guy, frankly he was defending louis farrakhan and, an anti-semite, nation of islam founder. he is up for the job of head of the dnc if he is chosen for that position, there are a lot of democrats who call him a
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anti-semite say he is racist and anti-semite, terrible, least inclusive person you could have for that position, is he getting the job nevertheless? >> look, i mean i think there is a bit of a smear campaign going on against keith ellison. david: whoa, this guy defended louis farrakhan. you're not defending louis farrakhan are you. >> no, i am not. what i'm saying is there has been a lot of conversation about how keith ellison is sort of anti-israel. i think chuck schumer. david: he was with the nation of islam defending louis farrakhan. that guy is not good news for the democrat as far as i concerned. >> he also hasn't been nominated. at this point he is probably, not as likely as he certainly had been a couple weeks ago to get the position. put you know look, certainly optics are interesting, right? he's a populist. he is a muslim. i think these are actually interesting things for democrats to communicate about our values
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as being inclusive party. david: well a lot of democrats don't agree with you on that one, including head of univision. we'll have to see what happens. fred, christie, thank you very much. melissa. melissa: breaking news. sources from the trump transition team telling fox news plans are being made for a family office in the east wing of the white house. david: oh. melissa: this could suggest the office may be for ivanka trump as she is the family member most likely to work for the administration. these plans are still in the early stages. we'll bring you the latest on this. just as we learn more. david: interesting. deplorable, that is a word we heard a lot of during the campaign but deplorable and proud. how the infamous jab at trump supporters could live on. melissa: hmmm.
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melissa: what it's a called a meltdown of humanity.
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five years after brutal civil war. cease-fire deal fell apart after one day, syrian official says the truce deal is back on track. conor powell in the middle east bureau in jerusalem with details. is there a lot of hope for this new deal, conor? reporter: they will try it again. and we'll see how this goes. sears fire agreement never took hold. -- cease-fire. clearly it wasn't going to happen. shelling and bombing of aleppo continued throughout the morning. u.n. warning of dire situation in aleppo, thousands of people without access to food, water, medical supplies. some of them are civilians and rebel fighters. but they're stuck between the advances syrian advance on aleppo, in between the fighters. these are essentially a surrender of city, from the small little sliver of rebel and opposition fighters maintained in aleppo.
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the city is now in the hands of pro-assad government forces, except for about a small area about the size maybe of a mile, square mile in hands of opposition fighters that will be turned over if this cease-fire holds. they're allowed to leave. civilians in need of food and medical supplies will be allowed to get out of that area. essentially what we're seeing the fall of aleppo and opposition forces that controlled this city for so long, they're essentially walking out. that is the hope. but as we've seen melissa with the cease-fires in the past, very hard to get them to take hold. even harder for them to stick. melissa: conor, thank you for that. david? david: just awful. a major emblem of the 2016 election could be immortalized. there is now a petition to the white house suggesting the next navy ship that is built be named the uss the deplorables. i'm not kidding. the sponsor says this is to honor those citizens who rose up
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to defend america and constitution from the globalists. the petition need as little over 59,000 signatures to get a response -- 95,000. some kind of a response. i don't think this white house will respond. but maybe next one will. melissa: get signatures they will just do it. no, i don't think so. bringing back the true spirit of the season and president-elect as plans to make christmas great again. that is next. when it comes to healthcare, seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live.
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melissa: bringing merry christmas back. >> what i started 18 months ago
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i told my first crowd in wisconsin that we're going to come back here some day and we are going to say merry christmas again. [cheering] merry christmas. so merry christmas. melissa: the president-elect making good on his promise to keep the phrase, a part of christmas. gary kaltbaum of kaltbaum capital management, veronica daguerre of "wall street journal" are back with us. gary, what do you think? is this the height of the anti-pc culture, for so long, happy holidays or just seasons greetings which is hi, you were worried you would offend someone. donald trump making merry christmas like a curse word, like i'm going to stick it to you, merry christmas. what do you think? >> he has no problem hitting you in the face. i'm a hanukkah guy i have no problem anybody celebrating merry christmas. i'm amazed throughout the years companies backing away from it because people are upset somebody celebrating something they celebrate. bottom line is, do what you want to do.
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celebrate what you want to celebrate. and case closed on i'm happy to see donald trump getting rid of pc culture out there. melissa: veronica, so there was a naughty list. this was from the american family association. they were looking at retailers who you know, wouldn't acknowledge christmas. barnes & noble, best buy, dollar general, foot locker, gap. all these stores has to be about making most customers happy. so why wouldn't you say merry christmas and happy hanukkah and everything else as well? >> why not, yeah? seems like equal opportunity. say all the greetings. >> what a concept. >> more greetings the better. why not? only mistake retailers can make it this, starting christmas in july. that really offends people when they start seeing trees out in july. i don't want to see that i celebrate christmas but don't want to see decorations that early. melissa: gary, starbucks last year it, was famous, they tried to put out cups that didn't imply christmas or any of these things. there was a backlash against
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that. are we in the height of the backlash season? can we finally both sides have their say we can sort of move on at this point you think? >> look i sure hope so. we have been for years, everybody worried about everything anybody says. melissa: yeah. >> how they act, what they do. if they say the wrong thing or they're bad or racist or they're wrong. let be, let be, let people celebrate what at the want to celebrate. melissa: there you go. >> what a concept as we enter the new year. melissa: merry christmas and happey hanukkah. thank you for coming on. david: you did it. yahoo! says a third party stolen data from one billion, that's with a b, one billion user accounts in august of 2013. includes names, email addresses, phone numbers, birthday, a lot of stuff. melissa: 2013? david: they're not able to identify the intrusion but notifying account holders. the stock is down more than 1% after-hours.
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probably as a result of all this. melissa: wow! meeting the parents, how apple will help your family choose your next date. david: what? melissa: a word of warning, don't let grandma drink eggnog. ♪
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melissa: feeling lonely this christmas? apple wants your dating life to be fun for the whole family. >> tracy, you just have to be honest, what about him? >> mom, he is wearing a fe dora. >> yeah but you can read his bio. >> i'm sorry, no, she's still living here, yh, him too, i know. >> teaming up with apple tv to swipe through your marches on the big screen. david: dates app suggests
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getting the whole family involved, calling it the biggest thing, for family night since yahtzee. melissa: i wouldn't mind missing my son's dates. melissa: true. >> we must accept this result then look to the future, donald trump is going to be our president. we obe him an open mind and the chance to lead. liz: less than a week until electoral college vote, democrats making a last-ditch push to overturn the election and reverse trump's victory, welcome to "risk & reward," the electoral college, are scheduled to vote this monday, they will officially pick our next president, here is how

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