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tv   Varney Company  FOX Business  December 20, 2016 9:00am-12:01pm EST

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we are continuing to follow the breaking news out of germany. that's going to be, obviously, the big story of the day. thank you for for being here. harlan hill, lea gabrielle. let's go to "varney & company" and the latest out of germany and the truck crash. stuart, take it away. stuart: maria, thank you very much indeed. a christmas, cultural symbol, season of joy. a truck attack in berlin. we're all vulnerable. the western world can't guard against every truck, car or knife. they exploit this. a 23-year-old from pakistan has been arrested. they don't know if he's actually the driver of the truck. they're looking for another armed suspect. police do say this killing spree was intentional. germany, terrorized a few days
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before christmas. christmas, new year and the inauguration are very close. president obama issued no statement. he played golf in hawaii. president-elect trump tweeted this, the world must change its thinking. there is clear contempt for the man and his policies. "the washington post" owned by amazon founder jeff bezos says he's a danger to american lives and will ignite a worldwide financial crisis. investors not phased despite terror attacks and media hysteria, we're about 100 points away. we'll go up 50 of those points in a half hour from now. christmas and hanukkah are days away. we'll celebrate this season of joy. "varney & company" is about to begin. ♪
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>> let's get right to it. the truck attack in berlin, germany. liz, what do we have. liz: here is what's breaking right now. the german authorities said in a news conference they're not sure if the man under arrest is in fact the perpetrator that carried out the truck attack that killed, basically, now 30 are seriously injured. that injury count has risen. they say he may have been the perpetrator or part of a group. the prosecutor says we'll know by the afternoon or evening if the man is the perpetrator of the attack and they are finding no video of the attack and they're saying there could be one or several perpetrators involved. stuart: and that's angela merkel right there at the scene of the berlin attack and in berlin, they are still looking for an armed suspect on the run. liz: yes, they're also warning further attacks could happen. stuart: that's an important warning to issue. now, what about the russian ambassador, who was
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assassinated in turkey yesterday? adam, you have details. >> the 22-year-old gunman is in custody. he's been working in ankara. he was protesting russia's role in syria and he cried out "remember aleppo", they've detained six other people and seeing if it might be a larger conspiracy. stuart: the judeo-christian world is in under attack and i think that's a fact. here comes, christmas, new years, and yes, donald trump's inauguration in january. large crowds, soft targets. former navy seal and the man who shot usama bin laden. soft crowds, they're vulnerable. you can't protect these people. >> these are soft targets and doing what isis inspired the
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terrorists to do. you don't need to be in syria to fight here. you don't need weapons and explosives, those could be hard to get. all you need is a knife, that's proven. a vehicle, run them over and get out and stab they will. they attempted it at a university, at nice, at a christmas shopping event last night. that's all they need to do. it's almost to the point, too, isis is getting better than al qaeda was because alaeda wanted a spectacular attack and they got a spectacular attack on 9/11 and it was almost too big and khalid shaikh mohammed admitted that, that it was too big. it's not spectacular killing enough people to get worldwide attention. they closed down the place to shop two days before christmas in germany, that's not the answer. that's what they're doing. the radical sunnis want this. stuart: do you think we'll have for the celebrations coming up in america, i'm talking christmas, talking new years and the inauguration, are we going to see whole areas where cars and trucks cannot go?
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>> i'd imagine we could. there was a time you could drive in front of the white house on pennsylvania avenue and you can't do that. stuart: that's true. >> there are places you can't drive in front of. it's difficult to get in front of one of president-elect trump's buildings here. and close down in times square. stuart: you don't want them win or want to be terrorized, but it's easy for them to do-- >> they're doing what they want to do, a lot of us, the current administration, refuses to admit who the enemy is. they're not doing this because of climate change, or can't find jobs. they're doing it because of ideology from the bronze age. they want to kill the nonbelievers and-- >> the white house has yet to comment on the attack. donald trump commented almost immediately. trod there were terror attacks
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in switzerland and germany and it's only getting worst. the civilized world must change-- >> the civilized world must change their thinking. you have a president trump who wants a border up and he's called a racist. he's not a racest, he's a realist. before i went to afghanistan for the first time i had one of my seal teammates, he got back and i said what's it like? he said you've got to-- you wouldn't believe me. they're not like us. a lot of these people are not like us. they don't believe in the civilized world. don't believe that women should have rates or people can be gay and don't believe in a lot of this stuff. a lot of these people are not civilized people. stuart: rob o'neill, thank you for joining us on an important day. wish you merry christmas. >> merry christmas. stuart: thank you. for the islamic foreign democracy, zuhdi jasser. he served in the navy and i want to know what you think
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about donald trump's tweet. the western civilized world needs new thinking. what's your take on that? >> absolutely, it's the global jihad we're fighting and that's the common element we see in these attacks. the reason they attack a christmas shopping area is because it's an islamofascist movement that hates christians and hates jews. until we monitor their footprint of anti-christian verbage or ideology, these are precursors of radicalization that we should be monitoring? no, our current mantra is countering extremists and all of these are nonviolent jihadists before they become violent and and that's why we're missing them. stuart: do american-muslims like yourself do you want migrants from north africa coming to america in large numbers? >> well, i can tell you we need
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to pause the migration until we start to vet against political islamist, islamonationalists, which i call them, yes, we fought wars and we were able to vet out our friends. and our friends believe in freedom, the secular state. those who are our enemies, i don't care if they're for assad or against him, the bottom line if they're for secular freedom or jihad or a military dictatorsh dictatorship. stuart: on a personal level, zuhdi, i feel for people like you. you're an honorable american. you have served in america's armed forces, you've been in the navy for 11 years, a doctor, and you contribute to our society and this kind of thing happens and the world looks at you and just sees a muslim and you must take your fair share of heat? >> i would say in this type of christmas, merry christmas,
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stuart, i hope we look at our founding fathers who fought against theocracy and loved their faith. unless we recognize whether they're corporate jihadists like the government of saudi arabia, iran or akp of turkey or viral jihadists like the muslim brotherhood or isis, they're not on our side and we have to take the side of muslim reformers. our muslim reform movement has a declaration, if the declaration points being against the caliphate, against sharia state and misogyny and monitor the media social footprints of organizations that are against-- that are for those radical ideas, we would be much safer. stuart: zuhdi jasser, thank you very much. >> thank you. stuart: i want to update one item on the berlin attack. german authorities say it's possible that there is another suspect, armed, on the loose. that's what they're saying. it is possible. a few minutes ago, that's what they were saying. this is happening and now they
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say that this is possible. a somewhat confused situation, but 12 people dead, 48 injured. the christmas village market was attacked. let's get to the stock market, shall we? we're going to open higher on wall street in about 20 minutes' time. despite the terror attacks. we're going to be up 50 points. the march towards 20,000 is g v this morning. how about the price of oil? no impact on stocks thus far this week, this month, i would say. 52 bucks a barrel and then there's this. getting ahead of myself. apple's tim cook explaining to his employees why he met with donald trump. wait until you hear what he said. we'll pose the question, why does he need to defend his meeting with the president-elect of the united states? we'll ask the question. terror comes to europe. you've been hearing about it. the christmas market attack in berlin. the judeo-christian world is under attack. maybe it's time to stop being
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so politically correct. we're on that one. wait until what you hear what "the washington post" says about the government bean counters, he's poised for a financial crisis, that's "the washington post". you've got to go past the gate keeper, chris collins, he's on the show 9:45 this morning. first this, golfer on a frozen lake, no information where exactly this took place, it goes wrong. as you can tell. he takes a swing. liz: oh, no. stuart: wait for it. oh, he falls. oh, dear. slips, falls, breaks through the ice. he got out okay. okay, we'll be back. when a cold calls...
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>> you know, apple's tim cook apparently felt the need to explain to his employees why he met with donald trump. what's he saying?
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>> here is what he said to the e-mail to the employees and we engage when we agree and we engage when we disagree. i think it's very important to do that because you don't change things by just yelling. you change things by showing everyone why your way is the best. in many ways it's a debate of ideas. stuart: his employees saying, what are you doing meeting with president-elect, and we don't like him. >> that could be-- >> and senator, you heard the story, the individual employees within apple questioning tim cook saying what are you doing going to meet with president-elect trump? this is extreme opposition to trump and it seems to know no bounds. >> well, full disclosure, stuart, i have apple products and i'm an apple stockholder, i want a good dividend and want the stock to go up, but i don't want tim cook apologizing to his employees who are going to reap the benefits of all the
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trump policies, the lower corporate tax rate, streamlining of regulation, the ability to repatriate the money at that apple is doing so they can give pay raises to these sniffling, whining kids. so, listen, it's like a mini apology tour, stuart and i'm not in favor of it, but i'm thankful that he had the guts to go and kind of go face-to-face with donald trump and i'm hopeful, kind of have a meeting of the minds and that's what i like about donald trump. even though these guys hammer him to death, he still had the, you know, the class to meet with them and that's a good thing. stuart: just let me run through some of the headlines from one newspaper just from today. "the washington post," this is how extreme the media is against mr. trump. first one. the g.o.p. is at its peak, but conservativism has hit rock bottom. another one, what's trump up to? don't ask his spokesman. another one, trump's omb pick
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seems to ignite a worldwide crisis. a gem from "the washington post," trump's choice for israeli ambassador is a danger to american lives. it never stops, does it? they want to undermine this president. >> well, stuart, that's the beauty of what's happening in the media. they're just apoplectic. they don't know what to do because everything they're doing is like -- it's teflon, it's just kind of rolling off because the american people, not only do they not listen, watch or read "the washington post" anymore or the new york times, but you see that it's almost emboldening donald trump and his people and the people he's hired to do the best possible job in the world and every time they have a success, the media and the liberals are going to go more and more apoplectic and i kind of love it, to be honest with you. stuart: i can tell you're having fun. well, it's fun when you get this extraordinary avalanche of hatred. it's just so obvious. just so obvious and easy to push back.
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>> and you know you're doing your job when you hit that jugular. you know, that you know that you've hit that sweet spot when they are just so, so negative. they would never do this for hillary clinton. never do this for barack obama and the fact that it's donald trump they're going to hammer him and that's okay, we're ready. stuart: going for the jugular, that's scott brown, a military guy. thanks for joining us and merry christmas. >> merry christmas if i don't see you. all righty. stuart: yes, sir. uber loses more than $800 million in a three-month period. here is a question, separate question actually, will the company ever go public? they have no plans. we're on it. and more on berlin, christmas market attack, 12 dead maybe more. donald trump says we have to change the world we look at terror? does that mean ending our pc culture? we'll deal with this next.
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>> whoa, look at gold down again big time. $12 lower, why? because the u.s. dollar is at a 14-year high. you buy gold with dollars. dollar up, gold down. that's the way it works. how about this? the attacks in turkey, switzerland, germany, more proof and this is my opinion, my opinion, that the judeo-christian world is flat-out under siege, under attack and political
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correctness that helped to create the situation, i think it's literally killing us. come on in, republican from new york, congressman lee zeldin. am i too strong here? i honestly believe christianity, the judeo-christian world is under attack and i'm incensed about it. >> i would say you're indisputebly correct on that. theres' no question, it's been made clear by those who are socialing themselves with islamic extremism with their attacks, whether it be the middle, europe, united states and elsewhere, they're clearly in a religion war, perverting their own religion in a way at that threatens the free world. i think you're absolutely correct. stuart: why do so few people say it? i don't know many people in the media flat-out say, hey, we christians, jews, we are under attack and it's radical islam that's having a go at us? why don't we hear that? >> because they don't want to
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offend those who are -- they look at as allies. they look at as people who are of muslim faith who live here in the united states, who consider themselves to be proud patriotic americans and by being politically correct, it reduces the risk of offending maybe that muslim who is serving right now in our armed forces overseas. and i get that, however, president-elect trump was giving a thank you speech in wisconsin reiterating words he said elsewhere, america first. as relates to homeland security, foreign policy, economic policy, america first means sometimes we're saying and doing things that might be taken as politically incorrect, but they are important for our own existence and our own strength as a sayings so i think we need to follow that
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lead, america first, even if it offends some people. >> will you comment on michael moore who says he intends to disrupt the inauguration? i think that's irresponsible given the threat from trucks being driven into the crowd. what do you say? >> i think he's trying to keep himself in the limelight. he says and does these provocative things that get him additional attention because the movies he creates, what he produces on its own merit isn't going to make him famous so he has to add an element of acting like a stooge in order to get himself some extra limelight and that might get some more attention to whatever his next documentary that's going to come out, but the right thing is it to root for president-elect trump's success understanding that his success is our success as americans. stuart: congressman, thank you for being here. check dow futures. here is how we're going to
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open, up 40, maybe 50 points. we're getting very, very close to dow 20,000. we'll cover the open. some ibm employees have launched a petition, they don't want their ceo talking with donald trump. he doesn't represent their core values of diversity and inclusiveness. we'll be back. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
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>> right. yesterday, we closed about 113 points, very roughly 116 points away from dow 20,000 and that opening trading starts, it starts now. we're going to get pretty close to dow 20,000. we're up 37 in the early going. up 38 in the very early going. now 42. we're off and running, 19,923 is where we are. 70-odd points away from 20k. the s&p 500 is also opened higher. not much, but it's .2%. how about the nasdaq opening higher .3%. the price of oil is irrelevant at this moment. the price of gold is way down, the dollar, u.s. currency is at 14-year high. and how about gasoline? well, it stalled overnight with
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the national average till at $2.24 per gallon. who is here? i'll tell you. liz macdonald, adam shapiro, liz peek, mike murphy and steve cortez. okay, we're awfully close to dow 20,000. it appears the markets shrugged off the terror attack. mike murphy, is that accurate? shrugged it off, no consequence for investors. they've shrugged them off. i think the market is trying to get through the news of the last 24 hours or so, but remember, we talk a lot about a lot, the momentum is to 20,000. we're going 0 get to 20,000. however, be careful when we get through that. we've had a huge run since november 8th so i'm looking for some sort of pullback in the markets here. stuart: some people are surprised that a terror attack, several of them have no impact. >> sad to say it's becoming a common event and selloffs are followed by quick rally and recovery.
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let's not overlook the fact that donald trump make the president-elect. and withholding up and protesting, it's a done deal. removing one uncertainty is a good for the market. stuart: a story for you. families of the orlando nightclub victims suing google, facebook. >> and thee guys say they're not publishers, and they go through. you're making money from those ads targeting isis and they would have to disprove in court that they do not make money off of ads basically targeted at people like members of isis. stuart: terrible about. r. could be bad in court. not that bad for the stock.
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>> let's hope it makes them more careful what they're putting out from isis. they're very, very good at this. they have dozens and dozens of portals and hundreds of blasts every day, but they could be doing a better job cutting it down in my view. stuart: the dow industrials are up 62 points, a solid steady rise that we've seen this morning and we're now 55 points away from dow 20,000. listen to this, steve iseman, the big money guy played by the actor steve carell in "the big short", remember this? he says now is the time to buy bank stocks. >> he's saying there's going to be a lot of leverage under donald trump's administration, potentially a trillion dollar infrastructure spending and more leverage and a golden age of investing in the stocks and financial sectors at the top of the dow. stuart: look at this, the dow industrials are up, the bank
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stocks are up again, nice gains there. look at this, the dow is up 73 points, that means we are 44 points and change away from dow 20,000. it's a horse race, folks. stay right there because we're getting awfully close. steve cortez come in please, real fast. you expect dow 20,000 today, do you? >> i'm not sure today, but before santa claus. it's coming to you this week as i predicted. although i concur with mike murphy, i have an optimistic macro looking to next year, near-term we've had a nice run. i'm expecting 20,000, i don't know if that's the place to put the chips in, but there will be a pullback and a pullback to buy especially the financials. stuart: you're a trump backer and also a money man and watch out four your client's money. >> and this is a trump trade. stuart: look at ibm. there's a story here, some employees launched a petition, they're protesting any
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cooperation with donald trump. they say they're asserting their right to refuse participation in any government contract that violates constitutionally protected civil liberties. the stock is up. another record high for microsoft. yes, i do own some of it. ♪ >> keep them playing, boys. 63.71 is where we are now. i want to go around the block because it's my stock. is it going to 70? >> most certainly it. stuart: you can come back on the show. >> the ceo is doing a great job. reinvented the company and they have a lot of growth in the cloud and it's become from an old stodgy stock, no offense. [laughter] to a cool stock that you want to be in. stuart: thank you very much, indeed. will you second that? >> i second it. it doesn't reflect on people who buy the stock. i want to say, the fact that it was stodgy and boring. stuart: it's going to 70? >>. do you want me to retire or--
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>> no, i want to be here when we cross 20,000, you're going to explode. stuart: general mills, lower sales. nicole, it will me what happened to the stock, please. nicole: not good like your microsoft. going around the block on your microsoft, call it 210. and looking at general mills that's down 3%. they've missed on sales and reducing the head count by 5,000 people. that's about 12% of the global work force trying to streamline this company. two major issues, number one, they're not seeing demand, not for their yoplait, not for p progresso soups. the inherent problem is organic and all that versus things that are processed and they've tried so hard to reduce artificial ingredients in their processed foods and the like, as well as removing synthetic dyes. but this is what they're up against. they've cut their sales numbers. stuart: organic and all that, i
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promise you'll get e-mails. organic and all that, come on, nicole. a frequent guest on the program is harry dent, the uber bear. he's the guy who thought the dow was going to collapse all the way down to 6,000 or below that. however, e-mack, tell us what he's now saying. liz: now bullish, he says dow 21,500 at mid may at the latest, the prophet of doom and gloom saying no to a drop. i admit i've gotten timing wrong and markets defied my research and saying bullish because of what trump is planning. stuart: mike murphy, your chance to dump on dent. >> it's tough to dump on one individual, i'd be fired if i flip flopped like that. it's important for people to realize who they're listening to and why they're listening and what their ultimate motivation is. anyone who says going lower and then flip-flops to 20,000, i would take with a grain of salt. stuart: steve cortez.
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>> you know, i would say instead of focusing on in dent. someone with a d-last name. ray dalio. he wrote a talk about a man with a successful track record who really deserves our attention, and he talks about what donald trump is bringing into the market, into the economy, and he talks about animal spirits. that it's not just the policies, those are important, but it's also the mentality, the confidence, the can-do attitude of a successful businessman and what that's going to do for our markets and he's incredibly bullish. stuart: the animal spirits are loose on wall street. the dow industrials up 80 points. 19,962. >> look at that. >> wow. stuart: that means, i hate the math, you know? >> 40 points away. stuart: 40 points away, less than 40 points away. we're 80 points up. i've got this story from tim cook.
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he's telling apple staffers, some of them, why he felt the need to attend that tech summit with donald trump. he felt the need to explain himself. i don't get that. liz: he's essentially saying if you're not on the table you'll be on the menu of the u.s. government what it can inflict on your company. you don't change things by yelling, you change by debate. i never found being on the sideline a successful place to be. stuart: i'm intrigued by the other story on apple, you've got to, too, liz, they may make iphones in india? don:. >> factories in india, apple could put them-- india has the second highest population, 1.3 billion, but cheap phones, $4 phones are prevalent in india, but also apple wants inscentives if they do that from the government. india says you've got to source 30% of your goods in india. stuart: it was the indian government that pressured them and said come over here and-- >> sorry, stuart.
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stuart: i've got to look at this, 90 points. 30 points away from 20,000. >> a record high. stuart: that is a record high. 19, 973. it's a horse race. now we're up 92. we're 24 points away from dow 20,000. this is a historic day. we're not going to take any commercial breaks. you're watching history being made here. we could hit 20,000 very, very quickly. >> looks that way. buy some microsoft. [laughter] come on. okay. >> and stuart, go ahead, steve. >> it's steve. i wanted to say you're right it's historic we're this close i hope we get it while we're on air right now, but also amazing how much it controvenes what they said about trump.
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by the next morning, it changed and conventional wisdom was wrong. stuart: the so-called experts got it totally wrong and multi-billionaires saying the market would crash if trump won, stay away. what trump did with tim cook, with bringing the tech people in was a great sign for what's in store. he wants to reach across to people of differing opinions and work together. >> the bank story is pivotal, it's not just that the banks are going to be doing better. they're lending more and that's important for greasing the skids of small and mid cap companies that were not able to raise money. it's a big engine at play. liz: sorry, liz, and to your point it's the breadth of the market and goldman sachs, united health, caterpillar, ibm,m,hevron pushing the market higher. it's the breadth of it, not just the individual sectors. stuart: i don't know any major
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sector of the market which has gone down in this trump rally. >> health care did initially because people were concerned about obamacare, but that's come bouncing back. i agree. i don't know-- i mean, there are winners and losers, but pretty much everything is up. stuart: have i missed something? a big sector down? >> there was a rotation, stuart, out of utilities, boring, safe, slow growth companies into the higher growth areas and that's where we're seeing money coming out and into other areas. you look at banks, goldman sachs up over 30% since election night. stuart: and we've got steve iceman-- >> said it's going to be a golden era for banks, so many people bothering as well as the federal government. stuart: dick bove said the same thing. yesterday you were talking to. take a look at the vix, they believe that the volatility is down. and we talked about a pullback, but they think it's going to keep going. stuart: we're looking to a straight shot to 20,000. we're 29 points away from dow 20,000.
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up just like that, bingo. why are you in cash? >> you look at something the company the size of goldman sachs, i would caution people out there if you've missed this rally you don't need to run in and jump into it i need to be part of it. it's at 20,000 and never going to pull back because it will. find your comfort zone. your spot. i would advise anyone jumping into goldman sachs for the first time up 30%, it's a bad idea. stuart: okay. >> stuart. stuart: i want you to come into this and tell us if somebody is not in this market, but they've got some cash, maybe in bonds or literally in cash, what do they buy right now if they want to get in? >> well, you know, i concur with mike. i don't think you buy right now. as historic as 20,000 is and i think we're going to get it at least i don't want you to buy aggressively right now, but on pullbacks and there will be pullbacks, as optimistic as i am about trump and america into 20717 there will be hickups and pullbacks. but on the pullbacks,
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financials. as much as they've run they're nowhere close to the pre crisis highs. i think that financials have a long, long way to go in a higher interest rate environment so i love goldman and similar stocks like that and tell you this, again, as a real trump guy, one aspect of his administration is incoming administration that could produce a market pullback would be trade tension. if there are worries about a trade war with china at some point. i don't think it will happen, but if there are worries, the market could see near-term fallout from that and that's my view. stuart: 31 points away from the dow 20,000. let me take you to the floor. nicole petallides describe the mood, please. nicole: i have to say if it's a psychological level, dow 20,000. there's a certain level of excitement. possible dow 20,000. they have the hats, they have the optimism, they have the
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hope for growth here going forward. they have faith in the trump administration and a business friendly administration at that. so, there's certainly a feeling we're going to hit it. i talked to peter tuckman one the traders around here. i said when do you think we'll hit it? he said maybe the next five minutes. and some think the end of the week. we're awfully close, 10,000, 15,000, remember we dropped back down during the financial crisis to, 6500 near the crisis and now almost 20,000. stuart: 19 1/2 points away from dow 20,000, it could happen very, very quickly. >> and the financials, the financials. stuart: the financials are doing extremely well. we're literally 20 points away, that's all it. okay, we're going to make a big deal out of this. i never thought we'd get to dow 20,000 soon. is it that much significance, mike murphy? >> we always put the psychological numbers so there's a lot of significance
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on it, but i think past that, once we hit the number and past the headline, if trump's policies are able to keep this growth going and get a turn around in the earnings recession we had and real growth in the economy, we talked about it, 4% gdp growth, we could get through 20,000 and have higher highs. stuart: this is expectation of very strong growth in the future for our economy and gro et growth in profits. >> absolutely. it's not only growth, but lessening of the grip of federal oversight and penalization of kms. and there are fees in various kinds of personalities in the last years. stuart: 100 billion? >> 100 billion. liz: that's right, interest rates going up. remember when jamie dimon quoted ben bernanke, how much
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is dodd-frank going to cost? ben bernanke said it's too complicated, we can't figure it out. and it's dialing back of dodd-frank and rates going up. and watch the yield curve steepening, that's a basic indication that there will be growth ahead and people willing to invest in the long-term bonds. stuart: that's right. liz: that's steepening and going up. stuart: the rise in interest rates tell you you get growth in the future. steve cortez go. >> stuart, one thing i point out, too, as much as we're focused on the dow and that's proper on a day it looks like 20,000, i've been focusing on small caps since trump won, why? because i think it's representative of main street america. small caps tend to be domestic companies rather than the beh beheymoths. if you owned a lot of assets. you did great.
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main street not so much, struggling to keep pace. i think that trump policy of america first, that's a real policy is going to benefit main street. that's not just my opinion, it's the stock market's opinion right now. stuart: i'm going to keep the market on the air, we're up 100 points for the dow industrials, new high for the nasdaq, we're very, very close to dow 20,000. we'll keep it on the screen. and i want to bring up chris collins. don't necessarily to see him. you, sir, are the gatekeeper, if anybody wants a job in the administration, they come to you. and you're looking almost at entirely conservative business people for the cabinet and you've got something to do with this rally. >> i will say we've got 4,000 jobs to fill and got them coming in waves and next wave is top tier ambassadors and also looking at undersecretaries in the various agencies. for me, it's been incredible,
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seeing the quality of the people. stuart: yeah, but they're conservatives. >> the people coming forward. they are conservatives. stuart: they're business people. >> they're getting it done. absolutely. these are very successful business people saying this is a moment in time, i want to be part of, a moment of time. the trump movement. they're willing to step away, whatever it takes, in many cases disposing of assets and budget them in blind trusts. they feel this country is at a precipice that's going to move forward. they want to be a part of it and the country is going to be well-served with these get it done business folks, successful business folks. some on the left are saying, these people have made too much money in their life. these are successful business people. stuart: yes, the market likes what you're doing, believe me,you're the gatekeeper. yes, they do. stuart: you're introducing them to the investments and people are loving it. i don't know if you can see the
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screen, we're up 1 is00 points on the dow industrials, we're only 20 points away from dow 20,000. if you took me back six months i would have said no way you're going to hit 20,000 before the end of the year, but we are almost there. >> and if you went back six weeks ago. they said if trump was elected it would be a disaster in the markets. look what we've got going on now. boy, were they wrong even on that point. stuart: thank you, congressman. i want to bring in charles payne, my colleague at the fox business network, the man on the radio as we speak, but going to joining us nowment this is the man who introduced us to animal spirits. ain't that right, charles? >> that's right, baby, and they're seriously roaring, aren't they? i hope you can hear me. stuart: yes, we can. >> okay. you know, it's so funny, stuart, because everyone is talking about this now, even people who didn't want to-- didn't want to admit that they were around and you can see it. i'm telling you, you could see it percolating before the election and it's taking on a life of its own right now.
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stuart: charles, thank you very much indeed. we're going back to the new york stock exchange. we're looking at some very nice numbers for investors, anybody who is in the stock market is probably doing quite well at this point. we're about 20 points away from dow 20,000. mike murphy knows a thing or two about investing. are you surprised? >> i am. i'd be lying if-- think back 12 months, stuart, when we had the worst start to a year in january, the worst start to a year ever and things looked like they were crumbling under the seven-year rally in the stock market and now we're ending the year on all-time highs. it's amazingment i think a testament to a new administration, less regulation and more growth. stuart: we're backing off a fraction, now 22 points away from dow 20,000. >> we've got some losers today. no, no visa is down, united technology, merck is down and some are not enjoying the ride. stuart: there are some losers in this marketplace. let's not concentrate on that, give me some winners. >> there have been a the lot of
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winners, talking about the banks. nike has been a major underperforming, if they're able to turn things around. if the event we don't break through 20 today. we could-- >> isn't it true, sorry about that, that bear markets are created by recession. what would create a recession here? you were talking about growth pushing forward. we're out of a revenue recession, we were out of a revenue recession and that's no longer the case. >> there's no recession out there, looking for growth. the market, the rally in the last six weeks, i think the markets pricing that in already and when we get ahead of ourselves. stuart: hold on a second, a new face is going to appear on your screens as we head towards 20,000, we think we are. he runs boxed. che is an exceptionally wealthy young man he founded this juggernaut and is doing well. i want you to comment not on the stock market, but on the growth that you see. i know you're expanding your
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facilities and you must be doing that because you see growth in the future. >> stuart, you know i've been a viewer for many years and a guest for many years. stuart: yes. >> since we were in my garage, on the show, until now raised $150 million over the last three years. and it's been a great ride and so, back to what mike was saying a little bit. like, it's not only in the public markets, but the private markets as well. in january and february of this year if you were a technology venturer you were not out raising money, but that's starting to change. the ipo's, 50 or so privately kind of percolating underground they might have a window there in the beginning of 2017. stuart: do you see, in your business a new mood, a new positive growth mood? >> i think so, absolutely. now, we'll have more access to capital, we can invest back into growth and consumers, taxes come down and hopefully have more to spend and you know, we're part of that machine. stuart: you don't have to tell me, but i'm going to-- >> oh. stuart: not how much you're worth, i wouldn't do-- >> three times already, stuart every time i'm on the show. stuart: i'm not going to do
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that, i'm simply going to say how much has your business expanded now compared to one year ago? what's your growth rate? >> oh, incredibly. stuart: give me a number. >> several hundred percent. it's always like, in the history of our country we've grown three figures, a triple digit growth every year of our company and this one is no exception and i think, you know, if we have more access to capital, if the capital markets losen up for us, yeah, we'll continue to grow at that pace. stuart: and capital has got to loosen up for these guys. >> we run a venture capital fund and wish we were there a few years ago. what's the plan? i agree, i think 2017 the ipo market will open up. do you have an exit plan, when you have board meetings, is there an ipo in the future? how do you guys get lickquid? he wh when we look at this, we're a warehouse club, alab
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j's, sam's, that's definitely in view. stuart: so you raised 150 million capital. >> yeah. stuart: what percentage of the company is that? >> so, it's-- it's still a decent percentage, we're not a billion dollar company just yet, but we'll get there one day. stuart: does that mean you're close-- you're worth several hundred million dollars. not me personally, but the company is now, yes. stuart: what's your piece of the company. >> it's probably smaller than it should be, but i'll ask the board. stuart: is it 10%? >> we're getting close. that means you're close to $100 million. yes, it does. >> not at all. stuart: don't contradict me on my own show. >> especially when i come back with money bags and give it to your guests. stuart: you're the ceo of boxed, b-o-x-e-d. look at this, the market is very close to dow 20,000. we're up 1 is -- 100 points.
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a vigorous rally has taken us within 16 points of dow 20,000. how about that? while we're watching the dow industrials maybe we could put up the big winners on the screen. i know for a fact the financials are a winner, is that right. >> the financials are doing good and driving the rally. >> when i say financials, the banks and we know the names. dow winners, caterpillar, general express, united health is up, heavens's sake, almost across the board stocks are up. is steve cortez with us. >> i sure am. stuart: last word, please. >> yesterday on your network, ken langone was on, out of the previous guests from that young man. i think he's 80 years old. incredibly successful, entrepreneur, billionaire, he said yesterday from trish regan, i've never been more bullish and america than i am now. that optimism is contagious, it's accurate and one of the reasons we're going to touch 20,000. stuart: che, you're with us.
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are you real enthused about growth and-- >> and i echo the sentiments said already today. in private closed door meetings with some large investment banks and some of the largest merchant banks, they're bullish and they should be. i think there's going to be a very business friendly positive coming in soon and you never would have expected 20 k this year and looks like we're about to hit it. stuart: when you arrived on the set you brought three bottles and it was ideal timing for you to be on the show today. >> thank you, thank you. stuart: 20,000 here we come. from boxed, thank you very much indeed. appreciate it. >> thank you, stuart. stuart: let me tell you now i've got actually facebook down this morning and only 17 cents. but down, twitter is down 29 cents, it's back to $17 per share. most of the other technology stocks are up, however. microsoft is now at 63.70. i own some of it.
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amazon is up $5 only at 771. i think amazon's got a problem with jeff bezos owning "the washington post" which hates donald trump. >> they could, and technology which was leading us up to the election and it's lagged recently here. yes, amazon, trump, washington post. but remember, trump brought him in, and trump is willing to reach across and put differences aside and i think that's the key to the administration. >> what's the chance of when we hit 20,000, if we hit 20,000, we're only about a dozen points away, that there is some selling and you get this thing called rotation, where you go out of the stocks which have been big winners in this trump rally and you go into the laggards, for example, amazon, facebook, and maybe even google, what chance? >> could you see that rotation, but remember, a lot of the volume you're seeing in the market today, stuart, is computer driven so you're seeing momentum to the upside that's what's going to get us through 20,000 and i think you're more likely to see more momentum initially when we get through that number.
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stuart: more momentum? >> i think there will be more computerized buying pushing up. i believe ultimately we need to pull back at some-- >> don't the computer algorithms say oh, dow 20,000, sell, a lot of that surely. >> if i knew that i probably wouldn't be sitting here. how the algorithms trade, that's why they're algorithms, you can't put your finger on it. a lot of it, we've seen the momentum to the upside and it's driven by the algorithms. stuart: charles payne, animal spirits guy, back with us. do you think there's momentum to carry us well beyond 20,000, charles, in the near future? >> absolutely, stuart. listen, i look at this market and start with fundamentals. then i look at technicals. technically, the chart is amazing like a breakout we had two years ago, the market rallied for another two years. if that were the case we'd be talking dow 25,000. on the fundamental side things are going to turn around.
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the leader on the dow is caterpillar, they caught an up rate this morning and wall street is so far behind this it's amazing. i saw two stocks i had on my special trump report get upgrades today and that's going to continue. wall street is dragging their feet. as far as the computers are concerned, i get what you guys are talking about, forget about that, i want people to think longer term. i always tell folks, yes, the market is short term, whether it's computer, insider trading, but long-term, great companies go higher, bad companies go lower and great companies need a great economy and they also need animal spirits. stuart: yes, animal spirits. [laughter] love that expression somehow or other. and charles, it's now 10:00 eastern time. let me tell everybody, just if you're just joining us, let me tell you what's happening. the march to 20,000 proceeds apace as one might say. we're 18 points away from dow 20,000. that is a landmark and and a half. the financials are doing well. technologies doing well and i
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can't think of a single sector that's really-- hold on a second, nicole, are you there? you've got more winner stocks hitting new highs. nicole: names hitting 52-week highs as we carefully wait for dow 20,000. some names, including travelers, american airlines, fifth-third bank, the banks have done well and industrials have done well and energy names have done well since president-elect donald trump has been elected and helped to boost us from 19,000 to this 20,000 mark. we hit 19,000 on november 22nd and we're approaching this 20,000 mark here today. some other highlights, would include american airlines, comcast, allstate, cracker barrel, microsoft, and one more, royal dutch/shell to name a few of the 52-week highs to get you going while everybody's certainly-- we're certainly hearing optimism here and as it's closer it's louder on the floor. while it's just a psychological number, i think the guys are psyched. >> let's talk optimism, a news
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item for everyone, frequent guests on this program, a guy called harry dent. harry dent is what you might call an uberbear. that is to say, he has predicted the virtual collapse of the dow industrial average and made that prediction in each of the last several months and he thought, past tense, he thought it was going to go down sharply. he's changed his mind. now, he says, he's bullish. what did he say, 21,000 for the dow. liz: 21,500 by the latest, mid may. stuart: why has he changed his mind. liz: the trump effect and also we're seeing the optimism indices, small businesses, consumers, going up. he says he underestimated the trump rally. stuart: he underestimated it. >> and he's bullish, there's a bull there. and anticipating maybe better. stuart: charles payne is laughing, i know, i can hear him laughing. what are you laughing at? >> you know, i--
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i've gone where harry dent is, not that he talked about the collapse the last several years. he's coming on board and pointing to the right thing. it's one thing to say that consumers and voters are optimistic, but i look for signs from the corporate world. a moment ago, someone mentioned the home builders sentiment. that number is amazing. keep in mind, buyer traffic, the first increase, first expansion of buyer traffic since july of 2005. the national federation of independent businesses, november's read from november 8th, after november 8th was completely night and day, it exploded to the upside. it's not just excitement because we've got a business man. you think of some of the damage that barack obama has done, for instance, to the construction industry, about it's the time it takes to build a house, 30% that it costs more to build a
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place. stuart: all right. >> everything is in-- >> i've got to break in because in 20 seconds you're back on the radio. >> back on the radio, see you later. stuart: what we're seeing on wall street is a modest pullback and very, very modest indeed. we were up about 103, 104, got within a dozen points of 20,000, pulled back to a gain of 88, 89 points. the market does that sometimes. as i approach is key number. the selling comes down a little bit. prepares itself maybe for a real strong run at 20,000. which raises the question, why am i about to introduce to our viewers, a british politician? why would i do this on a day like this as we approach 20,000? i'm going to introduce you to nig nig nigel farage. he introduced them to the-- >> are you partially responsible for the rally, are
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you going to take credit for this, nigel? >> not personally, no. but what happened, you know. >> this is the trump rally, that's what it is. >> well, of course, it's the trump rally and you know, a couple of things here, firstly, you've got an american president who is not part of the political swamp in washington, not a career politician, he's actually worked in business. secondly, he's making big appointments and i think very wise appointments of people to financial jobs who have actually worked in the real world and not just been lobbyists or politicians in washington. you know, they've been out there and made money and made profits and thirdly, because i think corporate america now has a feeling that the completely
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outrat o o outdated 35% corporation tax will disappear under president donald j. trump. there are a lot of reasons why the dow is nudging 20,000, it's all very good news. stuart: you were a commodities trader before you got into politics. >> i must have been mad, really. i missed one. biggest commodity booms in history to do politics, there we are. stuart: but, europe is a real mess after the terror attack in berlin and the votes that are coming up in france and elsewhere in europe, i would be prepared to say that europe is about to split, the european union and maybe cease to exist, but that doesn't seem to have had any impact on america at all. can you explain that? >> well, the brexit sent america a message that actually european union project was dying anyway. if you think about it, a vote for the eu, a vote for global
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corporatism, a vote for giving away, is a vote for hillary, but you didn't vote hillary, you voted trump. so we've made our decision, you've made our decision, it's the rest of europe that's behind. i mean, look, let's be clear, the european project as a political union is dead. it's just a question how long it takes for the whole thing to break up. stuart: got it. thanks very much for joining us on a historic day. >> thank you. stuart: why, take some credit why don't you, nigel. okay. >> thank you. stuart: now, one. themes that nigel brought up there was the kind of administration that donald trump is it going to lead, the kind of people that are in his cabinet. i maintain that essentially, they are very conservative people that are going into his cabinet and very business oriented. and i think that has a lot to do with the rally that you're now seeing on wall street. we are still, what, 25, 26 points away from dow 20,000. mike murphy, professional investor, you are a professional in the business.
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>> and run a venture capital fund and investing in new companies like boxed, we don't have that one, but it's great time to invest in the united states. stuart: because of trump? >> i think that trump has been the wind to come in and push things forward. technology is really what started this in my opinion, that technology is affecting everything we do, but trump comes in and says making businesses for like that gentleman easier and reduce taxes and regulation and it's a growth for the start-up community. stuart: a washington times political columnist is with us. that's accurate. >> yes. stuart: have i got this right, it's a trump rally because of the people he's appointed to his cabinet, exclusively conservatives? >> i think so. so long you've had politicians in washington and the only ones allowed to do anything and just the idea of getting them out and getting somebody from the business world to knows how to get things done.
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it's a breath of fresh air. stuart: america wants growth more than anything else and people on the program says we're going to get 4% growth if you cut taxes and if you spend big from the government. so, i think that's what he's-- we're close to 20,000 because of donald trump. that's my opinion. >> especially after-- you know how like dancers wear those weights on the bottom of their ankles. last eight years have been like that. where you have a regime that believes the federal government needs to regulate everything and a guy that's going to throw that away is just-- it's a huge lift. stuart: nobody saw this coming. adam. >> it's not just the conservatives, you look at mr. mull
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adam: he will respond to infrastructure rebuilding in the pentagon. he will find the funding. that's evidence alone it's a good idea. stuart: i can't get over how opposed to donald trump the media is. >> that's part of the reason he did so well is people hate the media and they got tired of them piling on. stuart: what's the big winner today on the market? >> the winner is the market in general. look at the struck names that have been held down for so long. united states steel, a huge con gop rat. that was a stock under the obama administration, people talk
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about them having filed for bankruptcy because of regulations on u.s. steel versus foreign steel. companies like that, anything that has to do with infrastructure. the big industrial names. they have a lot of upset. it's an historic day, i do believe. adam: a buddy of mine works at a steel mill in cleveland. the day after the election i'd called him an said their order books filled up. that happened after the truck dr the trump election. stuart: peter morici is with me.
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i'm calling this a trump rally based on the expectation of growth next year. >> if donald can put his plan in place. cutting taxes and regulations and standing down china. those are no mean tricks. we'll have to have a focused administration but he's a man who knows how to run a big enterprise. stuart: why does an economics professor put his money in the market right now? >> i always indexed. if you bet on america and the s & p 500 you can't go wrong. the message to carrier and ford and apple and abm. globalism is out, americanism is in. we are no longer interested in pursuing policies to shore up this global village.
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now it's about america first. did angela merkel worry about us when she fashioned german foreign policy? stuart: the indian government said to apple, you don't have much presence in india. you can increase it if you start making your stuff in india. they are making some stuff in india and selling it to india. that's what he's saying to china and and yeah, why don't you make it here. >> he has been criticized for telling carrier not to move the plant to mexico. if we live in a world where apple is compelled to be complicit with china monitoring its citizens and has to take
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r & d there to protect its i intellectual policy. if india won't play by the rules and china won't play by the rules, it's economic warfare. and we have to respond in kind. the ceo of ibm and apple have to get it through their heads. if they want to be american companies and have the support of american universities, then they have to start thinking like american companies and not global companies. if not, there should be problems with donald if they continue to march to indian or chinese drummer. stuart: i want to talk to you about the timing of the growth of 4%. when are we going to get 4% growth? you addressed this saying if we get the tax cuts and face down china, do all of that. then we'll get 4% growth.
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when do we get 4% growth. >> it's a matter of how imaginative he is about getting the infrastructure spending out. the same thing with regulatory reform. a good number of the regulations were not by executive order, they were done under statute. which means he has to go under long and laborious processes. figure out what you want to get done. wrap it up into a budget reconciliation bill. when nancy pelosi cries, congress can exchange all these regulations overnight simply bypassing a law and donald signing it. if he goes through the regular processes it will be a long time in coming. that's why i think this rally is ahead of itself. we are 25, 26 points away from
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dow 20,000. remarkable stuff. charles hurt is with me. washington times political columnist. you know a thing or two about what donald trump can done when he can do it. he has an enormous amount on his plate. obamacare, spend on the it in, infrastructure it's a long, long list. how much can he get common the first 100 days. >> thanks to president obama and his executive orders he can do a lot of the those things? he can undo a lot of things -- after obamacare was passed, president obama rewrote rules and basically rewrote the law after the fact. donald trump can go back and undo all of that and begin the process of dismantling obamacare
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even before congress votes on it. obviously there will be political blowback and he has to be careful so he's lucky to have people like paul ryan. i know he's not the most popular guy among the strum crowd. but he thought a lot about obamacare. he's lucky to have people like that work on things to replace obamacare with. liz: there is a push to do tax cuts piecemeal. don't do it that way. do it all at once like reagan did. bob dole in 1982 sort of had to undo reagan's tax cuts. you can push back on that, reagan added $1.7 trillion to the debt, but the net wealth of the nation went up $17 trillion. do it bold, do it big, do it all
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at once. stuart: our viewers notice a pause in the dow industrials. still 20-os points away from 20,000. what did you do. you started talking about animal spirits and the market pauses. is this your fault, charles? charles: it just happens that way sometimes. there is no noticeable major shift. but the market goes up. what we have seen, been these pause the last couple weeks, i love it. a lot of money has been made. every time there always slight pullback, we are giving people who are smart investors a chancing to ring the register. they are refusing to ring that's register. it's enough if someone wants to get out, maybe they will. they won't. they are not getting out. what you need is a catalyst. we have a whole bunch of news on
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housing. but there is another source that could get this thing going. you crack 20,000 and the notion is the train is leaving the station. i was shocked at some of the upgrades i saw. these folks are sow late. there are sow many professionals who missed this rally that they have to come upon board at some point. >> you think when we cross 20,000, we'll want to get people on board. all right, we are marching towards 20,000. as you can see. wire not going to take that away. we are 30-odd points away from dow 20,000. there are huge developments in the world of terror. and we have ambassador john bolton with us. we have a terror attack in berlin west coast, switzerland and the assassination of russia's ambassador to turkey.
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the judeo-christian world is under attack. i'm taking a strong position here, do you agree with me? >> i think that's what isis has tried to do. they have taken credit for the attack in berlin. no reason to believe it is not true. it was angela merkel's decision to allow in 800,000 applicants for refugee status that brought in the wave of terrorism we are seeing now. a cabinet minister estimated 2% of the refugees would be terrorists. the math is easy. we know the potential to increase the net work in united states and tiewrm went up dramatically. it is christmas. i hope this isn't and augur of things so come.
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stuart: we are vulnerable to say the least. you can't stop all truck and cars going near the big crowds that will be asymbolling. president obama has not -- that will be assembling. president obama has not issued a statement on the attacks in berlin. in fact, he's golfing. >> he believes fundamentally the american people are not educated and smart enough to deal with the threat of radical islamic terrorism. he thinks every time somebody uses that phrase the american people drop off the radical and drop off the terrorism. that's so condescending and patronizing to americans and people across the west who understand this an ideology we face, as do overwhelming numbers in the islamic world.
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the terrorist threat is real and demonstrated in berlin. we need to under line the assassination of the russian ambassador to turkey by a turkish police officer. we don't know if he was part of the detail to the ambassador. that's the responsibility of the host government to provide security for foreign personnel. he literally had back of the russian ambassador and shot him. he could have been in the same position with the american ambassador. stuart: donald trump tweeted very quickly after the berlin attack. he said the west needs to change our way of thinking. what do you think he means by that? >> i think you have to acknowledge this an ideology we are facing. the obama, kerry, clinton approach was to say it's random
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and done by self-radicalizing terrorists and a form spontaneous combustion. it's like a low-grade virus you will have to live with forever. i do think it's an ideology and it's aimed against the west in particular. unless you are prepared to combat that ideology in the east in in its pursuit of terrorism and its recruitment of people from the west, we'll face an increasing threat levels over time. and i think that will be one dramatic rejersal at noon on the 20th of january. >> the mark the is telling us the trump rally, the expansion of the economy will not be affected by this attack on the judeo-christian world. >> i think that's short-sighted. the assassination of the arch
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duke ferdinand had an impact even though it didn't impress the markets. but i think a strong american economy is critical to restoring a strong american place in the world. stuart: we have a pause for the dow industrials. the market went straight up. at one stage we were about a dozen points away from dow 20,000. we backed off a little. there is a pause in the rally. we are still up 80 points and we are 30-odd points away from do you 20,000. whether we hit that mark today, i don't know. but if you own any kind of stock, virtually any stock since election day all the way through to now, you made some money. this is the trump rally. am i right, trump rally?
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>> what's so fascinating, so many experts failed to catch and see this market surge coming. so many experts failed to see the trump surge, the trump wave coming. everybody assumed he would never win the republican nomination and certainly would never win the presidency it's a very distinctly american moment. experts, all the experts got it wrong and regular people, they are just with their sort of old common sense smarts got it right. stuart: liz, you have an update on the terror attack in berlin. liz: angela merkel said we must assume it was a terror attack. i know it will be particularly difficult and painful for us to bear if it's confirmed it was carried out by an asylum seeker or refugee. stuart: she is in terrible
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political trouble. she invited a million people in. they have committed crimes and are terrorizing europe. she is in trouble. we are on dow 20,000 watch. we are 30-odd point away. maybe we'll make another run at it later, i'm not so sure. we shall see. stay there, we are following this thing.
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>>
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stuart: the market has paused. is this the pause that refreshes? that's what we are watching for this morning. an historic mark. will we get there?
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we are not sure, but we are very, very close. peter morici, tenured profess years with us. some of the big gains have been with financial companies. is this because people expect dodd-frank to be swept aside? >> they won't be swept aside, but they will be radically reformed. there is something about dodd-frank that we need. but let's face it, banks are suffering from incredible you are about dens. i went with an anchor from a different network to the town where they knead "it's a wonderful life." i went into the basement where the president keeps his office. an pulled out these two telephone books. he said peter, these are my rules for making a loan. i'm just too small to do this. and we had nothing to do with the crisis.
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i don't know why we should punish every small bank in the country and every small businessman with him. stuart: we were talking about getting a mort gaining around the table at a production meeting. three our producers are trying to get a loan from a bank to buy a house and all of them have paperwork file after fe of paperwork. one young man it took him three months to get the paper work together. that's dodd-frank, isn't it? >> absolutely. i wrote a couple for the "new york post" and they paid me $400. i spent more time going through the financials for dow jones to prove i wasn't a foreign agent. it took me a full dave my time. it was absolutely absurd. stuart: i was trying to transfer money from my checking account
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to somebody else's check account on a regular basissen i could not do it. it was dodd-frank who did the. i went to the regional manager. he said no you can't do that. not allowed anymore. >> at my club i told some of the regulators stories in the locker room. he said we are tired of you private guys whining all the time. that man was in such a state of shock when donald trump won the election. this is basically pitchforks and what have you storming the barricades. americans are rising up and saying i want my freedom back again.: charles payne is back with us. with the dow at 19,967, what
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does a man like you like to buy now? charles: it's harder and harder. but i think you still have to have expose our to industrial names, you have to have expose our to materials. so some of these names i'm reluctant to throw out there because they are so far ahead of themselves. if you are not in this market and you don't mind, i don't want to knee jerk or pin prick. i like the bank of the ozarks. i think the small regional banks have been left out of all the -- i think these are the places that will benefit big time. i think you have got to own some industrial names as well. so it took a plethora of them. but one stock i'm pounding the table on is xlon.
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that's a stock i think will double in a year and a half. xlnx. ozrk? gave conservative name and a more of a high flying name that goes up and down a lot. but both of them i love. stuart: that's what people want to know. they are saying we are getting close to 20,000. what do i buy? i want to be part of this trump rally and we got an answer from you. we have to let you go because you are doing radio. animal spirit, man, charles payne. viewers of the program may know recently first lady michelle obama sat down for an interview with oprah winfrey. during part of that interview
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she said now we know what it's like to feel no hope. essentially the first lady was saying there is no hope for the future. she was downplaying any hope one might have for the future. crystal wright is with us. i want you to comment on that. you are on one side of the screen. on the other side our viewers are looking at hope, hope for growth in the future. hope their money will work well for them in if the future. we have a whopping great rally. what do you say to no hope, michelle obama. >> i don't know if michelle obama has been looking at the dow. but since donald trump got elected, there is more hope in america than obama has inspired 8 years. when i listen to michelle obama's comments, i shook my head and said yes, michelle, i
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know what no hope is, it was the last 8 years your husband' presidency. the jobless rate has gone down. and obama's hopeless economy, we have stagnant wages and we have a nation being terrorized from inside and out. that to me has been the last 8 years. strt: was the first lady referring to race? >> she was saying that her black president husband was more about hope and change for america and white president-elect trump. that is disgusting. and really michelle obama and the democrats, everybody needs to get over the fact that the democrats' identity politics was an ultimate fail newer this election. you had black men voting for donald trump. donald trump got 8% of the black vote, more than mccain or
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romney. it wasn't just angry white men break for trump. people were tired of a hopeless america. stuart: on this program we had jim brown, the football great. he just met with mr. trump at trump tower and he said not only did they get along fine. but mr. trump accepted what he was saying. and his whole approach to race. strikes me that we might be seeing a new generation of black leadership come to the fore in america, what say you. >> donald trump ran a populist campaign that appealed to everyone, particularly working class people who felt they had been left behind in obama's hopeless economy. he also has blacked working in his campaign and transition team.
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katrina pierson is a black woman. people are seeing donald trump is about making america great for all of us again. this goes back to what i said earlier. democrats can't get over the fact that playing black americans like puppets is over. they want black jobs, they want black prosperity. that's what america wants. so jim brown said, hey, guys, i like donald trump, he's speaking in a language i understand. i think this is what has broken the backs of the democratic party. they will have to go out and earn the black vote, the white vote, the college vote, the blue collar vote, all the votes. stuart: peter morici, you have a comment on michelle obama saying
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no hope? >> her husband ran an administration that targeted white males for discrimination. whether it's a white boy middle class that can't get into a university because the deck is stacked against limb. we have social indicators that show is how bad it is. opioid addiction is way up. suicides is way up, and life expectancy is way down for white males. he has created and discriminatory apparatus. go to the department of labor website, everything is about helping minorities. that's why why they rushed into the voting booth to throw out clinton and kaine. listen to his rhetoric. he reminds me of an anti-semitic
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jew from the 1950s. we need an erika that's there for everybody. all racial groups it's there for everyone, both genders. not that tries to separate america, turn one faction against another. simply to maintain their grasp on power. you are a professor at a university. after the election of donald trump, what was the refacts university, faculty and students. >> as a conservative who identified with the cause, i felt considerable hostility. i came up for e merks ritus professor, and a square of my colleagues claimed my columns were bad for the college and voted against me after a 340-year record of research and
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pup publications and one quarter of my colleagues spoke against me and cite what i do here. stuart: peter morici, he will be back. we are going towards 20,000. take a break. we'll see if we get there. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap right from the alert. wow, i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade.
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stuart: we are looking to see if we get to dow 20,000. and we are close. reporter: the industrials are leading the way. the traders are excited for 20,000. some think there was light volume yesterday, we'll wait and see. it's a headline-driven market. there is optimism for the new year. but the hedge funds and mutual funds finished their trading friday so now we are just waiting for the calls. stuart: the dow strilts are 25 points away from 20,000. i never thought we would get there, certainly not today. like a lot of people i'm very surprised. if you look at election day,
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november 8, we are up close to 1,600 points just since november 8, which is 20, 40 days away it was six weeks ago today. six weeks ago we were 1,600 points to below where we are now. liz: we crossed below 19,000. >> november 22 to now, we have gone up 973 points. that i believe is the most explosive rally in a long long time. >> it shows you the pent-up -- this economy wants to bust out, and donald trump gave a lot of people the motivation to do what for years people have wanted to do,. stuart: growth economy, grow profitability. we are 27 points away from dow 20,000. if you are invested in a bank, if you have got a bank stock,
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you have probably done very, very well. if you are invested in an energy stock like a driller or oil company or natural gas company, you have probably done very, very well. look at those bank stocks, they are up today. they have already gone straight up. goldman sachs gained a third of its value in the past six weeks. that's extraordinary performance for a company that size and stature. you don't see that very often. liz: we talk about the cabinet trump is assembling. it's the smartest deal makers. wilbur ross, steve mnuchin. these guys know how to cut a deal. that's probably why you see the yield curve going up. even consumer confidence is going up. apple is up to 117 it was 111 at
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election time. netflix has gone up a little but not much. amazon before the election reached 854. now it's crept back to 772. that's not a strong performance by amazon. some people are saying jeff bezos, the founder of amazon, he owns "the washington post," "the washington post" has come out in a rabid fashion against mr. trump and maybe mr. trump will take it out on them. adam: the president-elect trump said he may have to look at anti-trust issues with amazon. liz: the shipping costs and the buildout has been a drag on
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amazon's bottom line. stuart: you are looking at the trump rally and part of the rally is because mr. trump is suppose to be a deal maker. is it a big deal, the fact that the man is known as a negotiator? >> it is a big deal and i recognize that. let's look at somebody like wilbur ross. he's not only a great deal maker web's a great manager. look what tillerson had to manage through with exxon the last couple years it's been a difficult time to run a major oil company and run it well. look at the national economic council from goldman sachs. can you think of a better-run bank than goldman sachs?
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these are people that know how to execute. that's going to be so important. when they look at this regulatory quagmire in washington and the problems getting through it all, they will have to do a realistic focus. they are pragmatists. they are not idealists. they look at the world as it is and say how do i maximize in that context. they accept the world as it is. unlike barack obama who is constantly lecturing us about how it should be. that's why things are the way they are with china and russia and turkey today because the man would not accept reality and act on it. stuart: we are going to keep the stock market up on the screen. we are waiting for, hoping for, if we get to 20,000. we are 29 points away and we are up 87 points on this day so far. james woolsey is with us.
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he was the director of the central intelligence agency. i was listening to you earlier this morning. you say that our best weapon against our enemies in iran and maybe russia is to get the price of oil down to produce a lot of domestic energy as mr. trump wants. is that your points of view? >> not so much domestic as cheap. the key thing is the price. the key thing is to break the opec cartel. conservative economists said the first job of government is to destroy cartels. so russia basically tags along with opec. and they want a high oil price, and that's not good for american consumers. but it's good for them. if we start to make it possible -- and it's a simple thing.
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less than 100 dollars on a new car. make it possible to drive on gasoline or let's say methanol with an "m." made from garbage and wood. you will make a very big step toward breaking that cartel and there goes a lot of the money for the terrorists. there goes iran's money and isis' money and the terrorists' money. stuart: after the berlin attack donald trump put out several tweets. he said the western world is under attack and it needs new thinking. what is this new thinking. >> it's just a general statement so far.
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we are a month away from him being sworn in. he's still selecting people for positions in the cabinet. things that can help us with american consumers and undercut the terrorists beginnings. stuart: you have to be worried about christmas, new years, the inauguration, large crowds celebrating publicly. the terrorists are out there with their trucks and cars. we are vulnerable, are we not? >> yes, we are. we have to play goalie and on the offense. what we haven't been playing so far is offense. but we haven't been playing it very smart. what we have to do is make sure that we don't let in and don't let function and make them leave
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if they are already here, people convicted of felonies and would not screen any reasonable vetting process. we need to vet better than we do, but vetting won't do all of it, because it is just too hard to have, for example, passports made in syria that are real passports. they may pass some kinds of a test, but they probably cost $10 on the street. you can't just count on vetting with documents and questions. you have got to do a lot better than we are. you have to play offense, too. stuart: thanks very much for joining us. on the other side of the screen, there is a gradual move up for the dow industrials. we are close to 20,000. now, you got some new stuff on this? liz: the "wall street journal"
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saying berlin is on high alert. witnesses described the attacker. it matches the man in custody. he's of pakistani o or -- origi. they have not recovered any guns used to kill the passenger in the cab. >> part of problem the germans are having is the man in custody speaks a language they don't have a translator for. stuart: i believe they have barricade off these christmas markets all around germany. on our phone lines is harry don't. come into the show. you have been forecasting a virtual collapse of the dow industrials.
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a huge drop. but now we understand you changed your minds. have stu now become bullish? >> no, no. we were seeing kinds of a rounded top a then late 2014 through 16 where we couldn't quite make a new high. but instead this trump rally and this happened -- this surprised even the smart money, this thing came out of nowhere. he wasn't expected to win, and then if he point was expected to be bad for the markets. and the markets went straight up. we are in what i call a final wave, faith wave that could run for a number. months. i used to have 2,200 as a top for the s & p. but this rally could go for a if while. stuart: 21,500 for the dow in
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mid-may. >> some where the first half of this year, there is a classic thing, sell and may go away. i think we are setting up for a huge disappointed. what trump and his secretary of treasury has convinced if the market, and i think it's dead wrong. they are staying we can grow at 3% sustainable growth. i'm telling you that's demographically impossible. we are age and slowing. stuart: you saying the dow could hit 25,000 by mid may. >> the higher it goes, the farther it falls. stuart: thank you for coming on the show. we have the dow industrials up 93 points. we started outgoing straight up, at one stage we were up 1034
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points. up -- we were up 1034 points. 10 -- 104 points. and then we were up 70 points, 80 points. now we have momentum moving. now we are 23 points away from dow 20,000. it is an historic mark. we are getting close to it now. what happens if we cross it, where do we go from there? i simply don't know. but we are on it. what we are on is closing in on dow 20,000. stay on this program, please. we'll take you through it.
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..
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tree into we are closing in on 11:00 eastern time and we're closing in out 20,000.
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95 points higher. 22 points and change away from dow 20,000. the price of oil we will check it for you. not that it's had any impact at all around $52 per barrel. this is than his day, certainly will be if we get any closer to dow 20,000. peter cunanan said thus ,-com,-com ma former goldman sachs partner. he's the man of the hour because this man right there on election day said this is a buying opportunity of a lifetime. you, sir, were right. >> thank you. one in a row. stuart: look at that. we are up 96 points. any doubt in your mind as 20,000 very soon ?-que?-que stion-mark >> it's in the bank. i wouldn't worry about it. i may tell you why 21,000 will happen good for stocks accounted for most of the games in the election. what's happening suddenly is
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based on some categories left behind. utilities below where they were when trump was elected. as those come into play, we will see a boost and it's going to go to 21,000. i'll tell you why. stuart: 21,000? >> people are going to see the changes and it's time for other countries to change. next year, italy, france, netherlands all have elections coming up. china will have a communist congress change. they will watch over your doing a four on the right track i promise they will follow. >> this is fascinating. the rest of the world may change looking at us. we've changed and they will jump on board, too and will expand together. >> winner customer. >> winner customer starts to do well, you ought to copy or customer.
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stuart: charles payne is with us. still running strong i take it. >> they are still running strong. i agree with everything except i'm utilities i did this year 21% because the widows and orphans, everyone is afraid. that's when you go for safety. i like dividends. by mick 4% if i can buy a stock that goes up 20%. i kind of disagree fair. the rest of the world is absolutely right. china, this whole thing is wednesday. that is sort of them showing the rest of the world they can deal with us. that means that their economy must grow no matter why. watch what they do. you think we will have infrastructure plan. they will build another 20, 30 cities. i am looking for demand for energy to go out. construction material to go up. the rest of europe finally
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getting this epiphany after decades. despite decades of the notion that this giant utopia is the way to go. it sounds good on paper. it really sounds good in college. in real life it doesn't work and they're really waking up to that. stuart: welcome to the university of hard knocks. you're on radio. nicole petallides on the floor of the new york stock exchange. animal spirits, have you seen much of it down there ?-que?-que stion-mark >> no doubt. everybody has excitement and anticipation. for goodness sake where less than 30 points away. we wanted to look at the names that had she gotten in on this fourth quarter, you would have some great stellar retns. thank you, trump rally, whatever you want to call it. that was a chart of goldman sachs. for the fourth quarter, jpmorgan almost 30%. though a 19%. american express 17% and united
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health 16%. just to show you how quickly that we really searched here, the october move really anticipating trump had a chance. they thought it was behind it. his business from the really propelled us through 19,000 in november. november 22nd, 19,000. don't forget 18,000 was two years ago in 2014, took forever to get to 19,000 here we are approaching 20,000 less than one month later. it really shows you the optimism we are seen in the earnings as well. stuart: all spirits right there. thanks, nicole. a lot of our viewers are saying wait a minute, i am not in this racket at the moment. i am in a bank cd or something. you can't really give people individual advice, but in general, would you say they should get it now? >> yes, i'll tell you i'm worried about the same thing
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they are worried about. you don't want to be late to the party, but you don't want to be too early so you look for people who have participated. i think that the worries and concerns about health care and donald trump are overblown and i i think there's some great opportunities in health care stocks. there's some great opportunities and selected biotechnology stocks. the stock had not participated. i also think looking outside this country may be of long-term bad because a lot of those countries are going to come our way. those are placed into combat without risking the ranch. the other group that is not participated fully enough for the big tax. facebook, apple, those are going to come into their own. they are in a little bit of a low right now. they will be back. there are opportunities there. small caps. watch them carefully. they've grown double and there's some great virtues they are cumbersome grapevines in the small cat.
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it's an american moment. >> for anybody who watches as closely as we do, it's almost impossible to explain how its current course right now but the sense of opportunity. the market always does. a couple months now, and click on the honeymoon comes to an end, trump will have to deliver. >> it's an american moment. jim carlstrocarlstro m is at best this morning. former fbi guy in a favorite guest on this program. he likes to make cultural comment. >> from time to time. do you have any comments on this? i think donald trump has really changed things. in particular he changed the mood and i think the change of notice reflected on wall street right now approaching 20,000. do you agree? >> absolutely. this is simple stuff. leadership is big dividends.
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especially smart leadership, common sense leadership. someone who has been there, done that, created a lot on their own. someone that's truthful. psychiatrist in the world cannot figure out the far left in this country, but eventually some percentage will come around also. it is just staring you in the face. the strength of this country when we have really good leadership. i think we have that now coming. >> we've got a big rally on the stock market approaching 20,000. yesterday there were three terror incidents in particular the one that happened in berlin. no impact on the market that i can see, no impact whatsoever. you think we should be worried? the christmas coming, inauguration coming. any guy with a truck and run amok. >> i think we should be worried. there's no question about that. we've done nothing for the last
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couple decades common sense things about the border. we haven't put additionaadditiona l resources into the fbi, which is sorely needed. blueberry law enforcement with this heavy wet blanket of political correctness. donald trump will have to remove the blanket, put logical, reasonable things. >> you are talking about surveillance, aren't you? >> i'm talking about a lot of things. >> without question. they have a thousand cases in all the states in the union. just look in the last few months, the policies of the obama administration. just the flow of people in the country. we don't have a clue who they are. no idea. most people think some percentage of those people, 5%,
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6% is a big number. look at germany. 6% of the people they lead in their art terrorists. that is a big number. angela merkel i just think is totally lacking in common sense. the left-hand side of the screen is berlin. 5:00 in the early evening. they are recovering from the trump attack of the christmas market in berlin. >> trend for at least four dead you stuart: what about the suspect out and about. liz: we were reporting conflicting information whether they capture the right man. last hour the translation and the pakistani nationals they have in custody has been difficult. the issue as they have not recovered the gun use to attack
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the driver of the truck loaded with steel was killed. the gun apparently is still missing. that's why they are fearful in berlin is on lockdown on high alert. stuart: later on today, vice president elect mike pence will be meeting with the national security adviser, mr. obama's national security team. >> mr. pants is meaning with the security team. let me give you the names of the meeting. the defense secretary, general james mattis, general john kelley, senator -- general maclaine, white house security adviser, rex teller sin and katie macfarlane are at the meaning being connected by mike pence. donald trump that it's a state of florida. >> we heard president obama -- president-elect trump is a near constant contact with the national security team. liz: correct, he's on holiday.
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stuart: he's acting like he's the president. he sounds like he's doing the things that a real president in office who do. >> a real leader. someone who has an appreciation for what's going on in the world and the economic front on the terrorism front. the first lady the other day saying she's lost hope in the country. what about the hope of the children who lost their schools when the administration came in. but about the hope in harlem, baltimore. they've really had no hope for the last eight years. stuart: i don't want to be sarcastic but president obama has yet to issue a statement on the terror attacks we saw yesterday. he's playing golf and is in hawaii. i mean no sarcasm by this but i'm shocked the man would not come up. when prince died, the white house was bathed in purple very
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quickly. when a celebrity dies there is a statement from the white house within hours. a terror attack in germany and angela merkel as president obama's closest european ally. he says nothing. there is nothing there. >> it's very strange. we've been dealing with this for a long time. >> the united states has threatened to do this kind of thing. thousands upon thousands of people in times square in new york pd is on top of this. what is our government doing to prevent the situation here. >> you can be on top of it. stuart: why is this all? been around 9970, 909980 for an hour. >> i was on the floor and everyone is saying we want to torture varney. we are going to get very close. all of the details for this
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20,000 mark is they are. the only thing i remember being on the floor when we had 12,000 is a cause for halen house on it. this will be even bigger. this is a great reinforcement of the decision made and all i'm saying is all high maintenance and. this one will, but if this man delivers we are getting warmed up. that's going to happen and i hope for your sake within the next 40 minutes or so. stuart: will be a very happy guy. we have paused. that's important to notice. we have been trading at 9:30 eastern time as we do every weekday. the market went straight out. one state was up 104 points. that meant about a dozen points away from about 20,000. then we pulled back and we stayed on the pullback virtually ever since. 87 points higher. 29 points away from dow jones industrial average at 20,000. the call, i think you've got the big winners on the dow.
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what have you got? >> finding of winners, goldman and the like moving higher. where's your hat today today, peter tubman? >> almost 20,000. >> a week ago we were at 19,000. 30 points away. >> europe is going to close. sometimes that brings the little pop. >> absolutely. we got within 15 points. >> you think trump is an optimist overall. >> ever structure, manufacturing, jobs, tax rebates going high. stuart: i'm not allowed to take it out, but i will say there are hats. i am not allowed to open them. we are standing by. stuart: you've got to happen with the graphics in confetti ready. from the floor of the new york
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stock exchange, that would be financial theater )-right-paren to believe. on the fun with us is shah gillani. he was sitting next to me and he said we will hit 21,000 by the end of this calendar year. that means by december 31st of this year, batman on your screen said 21,000 here we come. do you want to revisit the forecast? >> i'm going to stick with it. we are so close to 20,000. we look at it today by all accounts. if not they will certainly be there tomorrow. if you look at what happened yesterday with the terror attacks and how the markets reacted to that, it's climbing the wall of worry. you want to go higher will easily get to 20,000. it will be a matter of days perhaps that we could meet 21,000. there will be no more selling. the resistance will get to
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20,000 we can do it by the end of the year. stuart: a lot of our viewers are looking at this insane if it hits 20,000 that will immediately pull back. therefore i don't want to jump in now. would he say to those people? >> of course it could pullback but if i might way. a lot of folks on the sidelines will say i missed it. i need to get in before it goes much higher. this is the impetus for the market to go considerably higher in a short period of time. stuart: what do you like? two stocks that have a long way to go. >> i like the energy partners because they than a little bit under the radar in terms of the stocks. we all met. it's an energy infrastructure play. it's got a great dividend. we like dividends yielding stocks that are doing well in terms the administration and the infrastructure. things like that are great.
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this is a 6% plus dividend yield on it. it is second-largest company in the world. we like ones that haven't done really well in terms of participating. we believe probably off the sideline emporium. they will look at the stocks that haven't participated robustly and the ones we would get into we are already into. stuart: not revising its forecast by the end of this year. he's a bull probably say that. karl rove is with us. a man who knows a thing or two about politics. not sure whether he's a financial analyst, but what you are looking at, we are looking at the trump rally and it's my contention the stock market is rallying because of the hope of real growth in good profitability next year.
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that is in very sharp contrast to what michelle obama told oprah winfrey the other day. your comments, please. >> i think you are right after the election ,-com,-com ma which most people expected hillary clinton to win, the idea we would have a tax cut ,-com,-com ma fiscal restraint revise the tax code, get rid of a bunch of unnecessary regulation from the greenlight projects to develop domestic energy. all of this contributed to an atmosphere of things are going to be better and it's reflected in the market. i'm not the expert, but market tend to look ahead and they are seeing good things. or import next year republicans led by their new president delivered the first six or seven months of the year so people get a sense this is going to happen. all of these things are hard to do. they are not easy to do and it will take a lot more time than people tend to think. early progress will help sustain this as you said earlier.
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i love the phrase animal spirit both sustained confidence in the animal spirits of job creators of wealth creators. stuart: do you think donald trump will do the same thing as ronald reagan in 1980, which was the first thing you do is cut taxes big time. is that mr. trump's plan? if it is, that's why it's gone up so much. >> first of all in all likelihood the first thing he will do is cut regulations because he will be able to's top a bunch of regulations by withdrawing them. he will modify some which will take some time and have a congress that will use the congressional review act to kill a bunch of regulations obama has attempted in the last six months. it will take time to cut taxes because in all likelihood with 52 republicans in the senate, they need to use reconciliation, the budget maneuver and a sense much like george w. bush did in 2001. that means there are two shots of budget reconciliation.
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one is on the f-117 budget. they are probably going to use that for obamacare, which means a second budget reconciliation in the fall for fy 2018 is when they have the bill covered by reconciliation. the first thing as movement out of the box on regulation to repeal obamacare in crafting the legislation in the tax code. in reality we will get rid of obamacare reform the tax code. stuart: we did what you did say that. we wanted a tax cut that dated to january 1st. >> you can do that. that is what's going to happen. they will do that. we passed the 2001 tax cuts in june and they were back to the first of the year. my suspicion is that there is july or august or september that the budget reconciliation will
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be backdated to the first of january 2017. all of the sophisticated taxpayers suggested to you for this year and early next year will be able to protect that vast sum of money you have accumulated over the years when he moved to america. stuart: okay, rose. are you going to put your your mouth is? we put your money into the stock market now? >> verity have. i've got a way to earn some money before i can put it down. i'm optimistic. i'm not the market guy, but at some point there will be a hiatus where they will stop and see a slight decline. i'll be looking to buy on the dips. stuart: here's what we want you to do. as soon as the interview is over, get off the set, call your broker and buy sent and buy a dow 30 stock.
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you've got to get me over 20,000. >> i can't. i'm so sorry. i wish i could give you the christmas present for my itsy-bitsy participation in the 20,000 barrier break. i exhausted my cash in july, august and september when i invested money in the market then. stuart: that's very disappointing. >> stuart, i can't tell you how proclaimed diane that i'm failing you. stuart: i love that word. you are all right. i don't care what they say. we will see you again. thanks very much indeed. do we have scott shellady with us? why do i feel you are not 100% with this market rally, why?
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>> because it's a little bit too manufactured for me right now. clearly nothing has changed in the economy from a donald trump was in the day. what has changed a lot a lot of money on the sidelines will miss out on this instead of the picture with obama with the hope underneath, we will have a new picture with results underneath his face and you can't get in the way of tax cuts, less regulation. that is the one thing driving the market right now. the reason we are not shooting hires because that's all the money on the sidelines slowly waking up to the fact that those ratings, tax cuts, regulation and spending are the reasons they are slowly grinding higher. >> we've got the dollar at a 14 year high. i would've thought that pulls in a lot of foreign money because they want to get into dollars,
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american stocks are american treasury bond. their investment goes up with the value of the dollar. the dollar is a factor today? >> yeah, but the dollar could also be a synthetic interest rate hike because it will start to hurt our experts. the dollar can be negative as well. right now the reason why everybody should overlook the strength of the dollar is because it donald trump like you just said if he delivers on tax-cut, we can raise interest rates. at the tax cuts are delivered, we will have to raise interest rates because it will differ on the economy. posted by the market is slowly grinding higher, melting up as they say rather than shooting higher because we've got so much money on the sidelines of tax cuts, less regulation and spending bill. >> thanks very much for jumping in here. it's an historic day and we are hoping to get 20,000 within the scope of this program which means i've got dirty five minutes to get to the dow
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20,000. let's see if we can get there. give us some help. >> i will tell you i think there's an awful lot of people watching. not just the show, but the market. one thing is patience. i know some of these people comment to the white house. there cannot level positions are set up so that they can make this not move. we've been a solid economy in many ways. we've created jobs but not great ones. that will drive the earnings higher. >> will this make any difference? kellyanne conway told the fox news channel, kellyanne conway and mr. trump's campaign manager is moving to washington d.c. to take a position either in the west wing of the white house agreed authority for tuesday outside the administration with a supporter and proponent of the administration's policies. kellyanne conway will play a
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political role to matter where she lives, no matter what she does she's going to live in d.c. she's very much the star, an emerging star of the trump administration. we've got the graphics ready, the confetti ready waiting for the dow 20,000. 30 points away. i've got to take a very short break but we will be back in just a moment.
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stuart: we are watching to see if they get to dow 20,000 as we've been saying all day. we are very, very close, holding a gain of 80 points. we've been there for some time. we got close to 20 k., pulled back a little at 19 and 66 as we spk. keith visits with us. keep fitzgerald, the man who appears almost every morning at 930 club as we open the market. are we going to get to 20,000? >> this is so close i can't stand it. i think we will hit it today. >> then where do we go? a lot of people saying that gives us fresh momentum very quickly. >> you've got two considerations.
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first in the short term will have the headlines. you want to sell the headlines by the rumors fact. there's going to be some selling that comes in short term because 20,000 as 20,000. that does give us fresh momentum but eric and we've got to see a lot of new money coming in. that is what's going to be the battle fought macs. >> i know there's one stock in particular you'd like at this time and i'm surprised you would like this stop because it is a tobacco stock. tell us why you like it. >> here's the thing. even in high market that are coming to new highs, there are bargains to be had. this is a stock with the postelection selloff pushed back below its 200 day moving average. perfectly positioned for a tram presidency because profits go to the top of the list. i like the fact it is much more than cigarettes in the fact that it is now testing the poor and
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comes higher. it is cheap and it's got a nice dividend of 3.4% am interested. >> you think were going to hit 20,000 very quickly. and then you think there will be a pullback and then we're off to the races after that. is that roughly accurate? >> that's absolutely accurate. thank you very much. >> it would be accurate. do you on that? i have to ask you, do you on it? personal note, family yes. no investment thinking. >> tobacco stock did the guy in the pacific northwest, i am shocked. come back soon. profit has no morality. grover norquist is with us as we see the dow retreated a little bit. but just 70 points. did you do that? is this your fall? you will pull the market back.
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>> i came here to fix it in 100 days as hundred days as soon as tram takes 100 days into the year, we will have a dramatic tax cut that passes the house and most of the senate. 100 days that also take the corporate rate down to 20% full expensing territoriality. this year we will pass right to work in new hampshire, missouri. stuart: forgive me for interrupting, but what you said is important because you know what works in washington v. you know the lay of the land and how things are going. you are telling us a big priority in a big which will be accomplished is a tax cut for businesses in the first hundred days. >> the house will pass it on the first hundred days and then it goes to the senate. this u. can do and the senate will move as rapidly as the senate does. and the first half of the year, yes. stuart: type is for individuals
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is a separate issue. >> same deal. same package. there are two tax cuts. one is abolishing all of obamacare. obamacare if taxes with a stethoscope attached to it. getting rid of obamacare is getting rid of 18 taxes. a trillion dollars in tax hikes over the next decade gone. that's the appetizer. that is step one. step two is the significant trump ryan brady hatch house-senate and trump are all in the same zone. that is why you can move rather rapidly. it's complicated by republicans in the house have been working on this the last several years. this is not their first at-bat to sculpt tax reform. stuart: you are happy with this. this is what you wanted. you don't like taxes. what you love is taxcutting. you are saying you see tax cut on the immediate horizon.
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>> step one for the administration. two years from now we need to do more but this would be a good first debt. stuart: follow this through. if we get what you're talking about, these two packages quickly, how long does it take to get 4% growth? >> i think you'll see it over the course of this year. reagan went to 4% rose on average from the bottom of his recession out nine years. he averaged 4% growth. his first year 4 million jobs were created. the first year of the reagan recovery in the more jobs created in october of that year than the entire first year of obama. so when you cut taxes rather than raise them, when you rein in spending rather than go crazy, you get significantly better growth. stuart: the market likes to hear what you're saying even though it did pull back what you were saying it.
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i would like to think it's establishing a solid base this on grover norquist. take some credit. go ahead. >> absolutely. stuart: interview with you thanks for joining us. it's an historic day and we appreciate you being here. back to the terror attack in berlin. >> 50 were injured, 24 big east from the hospital. 18 are suffering from very serious injuries. we are picking us up from german media and officials. they continue to talk about how the attack occurred at a christmas market at the kaiser church. it is considered a peace symbol for germany survived world war ii. they are talking about the 12-year-old who was caught trying to plant a nail bomb earlier in the month at a christmas market and outside of the hollinger as well. stuart: i say it's an attack on
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christianity. i don't think i'm going too far out of bounds by saying that. former fbi guy is with us. news out of germany is horrifying. >> not surprising. it has been anti-christian and anti-jewish, anti-anything. stuart: the judeo-christian world is under attack. here we've got chris ms. on the new year and the inauguration coming up in america. we've got a crowd celebrating all of those events. we are vulnerable. i don't think there's much we can do to counteract the possibility of attack. >> we have a great bond for his new team. they are not leaning forward like they should be. you can't vote against every chart. you are together when you don't have a clue who's in the country. he then told his coming in as the so-called refugees. stuart: we have a time to figure out. >> it's a huge problem. it sounded like fingers in the
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day. i don't forecasts and tragedy will have been, but could it? absolutely. is this serious business? you bet it is. weapons of mass destruction are available all over the world. you could drive trailer trucks across the southern border and not have a clue whether it came into the country. i've been saying this for years, this is serious. it's not the time when we should have basically given prozac to the police department because they don't want to hang out and do their job. >> you think donald trump -- >> i would hope that they are all awakening right now in understanding that they need to go out there and protect the civilians get out of patrol cars. forget the political correct is because that will go away. i hope and pray and i know donald trump -- i think is going to go large. peter griese will go big
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quickly. not what karl rove said. that is a different -- >> grover norquist and karl rove see a different timetable. >> we need a different timetable. you need to act quickly on the scene. stuart: jim, old on a second. i notice that we saw. we were up 60 points instead of 104. >> two things are weighing heavily. i can't remember the last time you reported on one day three different capitalists in europe. but we are basically dealing with is when you have a person drive a truck into a crowd and i don't know if you've ever seen that, but it's a vast part of people chasing with the iphone train to record and then the person is still not captured. when you have literally and assaults in the back, and assassination really is the ambassador, the russian ambassador, these things are destabilizing. it says a lot about how strong
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the market is. if you go back to nice, the market we're getting better, adapting to these kinds of things. unfortunately it's been her normal but it still lit on performance. >> the ohio state university terror attack last month about the vehicle. >> liberty went onto the sidewalk and injured students. >> german is trading up today. europe is trading up. >> the markets are higher. so who would think. the point is that that's going on, literally in moscow today, turkey and the folks from russia and the folks from iran are sitting down to talk about resolving what's going on. there's a lot of international crosscurrents going on and that's part of the market. stuart: we are joined now by marsha blackburn from the greek state of tennessee. welcome to the program.
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i've got two very specific questions in light of what is going on in europe, in light of terror. if a bill is presented in congress, which reached tricks muslim immigration into the united states, will you sign it? >> i would support it because i have a bill that is before congress right now that would halt the immigration info until we have a process to that, until our dhs secretary can verify, the president can verify that we know who these individuals are, where they are coming from and why they come to the country. it is imperative that we know who is here. stuart: is that those going to be presented in the early session of congress next year? >> of course. you are going to see i will
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refile my bill. i think you will see this happening. in addition to halt in the refugee inflows from some of the countries that have terrorist act today, we have to look at the office of refugee resettlement and figure out what is going on there. they are not filing their report. >> apart from that, the refugees coming almost entirely muslim and the real big guns of genocide and slaughter by the christians of the middle east not being allowed in. i can understand why that's the case. >> no one can understand it enough why we've been calling her an investigation, so we can look at this program and begin to figure out how they are making these decisions and once these individuals,, how do they keep track of them because they lead the custody from the resettlement site and they don't
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have contact with them as they move forward around the country. >> second question, the wall. mr. trump continues to say he's going to build it. if a bill is presented to congress to build the wall, will you support it? >> of course i will support it and other members will support it. some of the lot will be done with virtual surveillance. some of it will be done and some of that will be a physical actual wall. they're going to have to be increased surveillance opportunities to deal with the tunnels that come under the southern border so you know that it is going to be and all of above and below strategy to secure the southern border. you have to know who and what is coming into the country. the amount present at the terrorist training camps in northern mexico, utilization of trucks to bring and biologics or
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other items, weapons, things that may not be serving the american people well, although this is part of keeping the homeland safe. stuart: marsh about her, thanks for joining us. for the fbi guy, you heard that much about her and had to say. essentially stop the influx of muslims coming into america as refugees and build the wall. i take it you agree with her pants down. >> i agree totally. she realized not consistent with our constitution. we need to make a determination of who is coming here if we can do backgrounds. is there someone that will agree with the rule of law. stuart: which he put in a description? yes or no. would you do that? >> i personally would because it's inconsistent. it's inconsistent with their beliefs. the destruction of women.
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these are not expect the one in the united states of america. stuart: you want a test, a belief. do you share our values? you would have to not? >> you know, if they believe -- it's just like someone coming to work at fox news. if they believe in certain criminal acts as part a their so-called radical religion, they should not be hired here. nor should they be brought into the united states of america. >> i was asked, are you now or have you ever been a member of the communist party. i said no i'm not. never have been. >> i agree totally that should not have been. there ought to be methodologies to follow-up on this these types of decisions. and why is the vast majority of these young people young males? >> fair question. hold on a second. jeff flock with us. i believe he's asked a market
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somewhat similar to the christmas markets in christmas villages in berlin. this is in chicago. is that correct? >> you're absolutely right. the market has been here for decades literally. they are just about to open here in just a few moments. you can see people lining up. talked to a few people who said we will be here today. don't worry. we are not going to come to market because of what happened yesterday. we will be here. but police say additional patrols, no concrete barriers or any physical barriers to the market. but they will have increased patrols out here today as a result of the activity. stuart: jeff, i've seen this christmas markets in germany and the one you are standing next to looks a lot like the one in germany, like a little alpine village in the snow and the christian symbolism. >> it is called chris kendall
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market in exactly that way. a very good and flavor. some of the first settlers to chicago back in the day. this dates back in as you can see, the barriers are coming down to just about ready to open and i suspect will have a busy market today. stuart: jeff flock, we will see you. a very good place to be on this particular day. the dow industrials adding back a little bit more ground. we are up 68. name t. 951% 48 points away from dow 20,000. one point earlier this morning we were within 12 points of 20 k. kerrick is that this now. this is an historic day so why not bring all the stars. you are the police commissioner in new york city on 9/11. is that correct? have you heard our comments area in the last few minutes about
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stopping the immigration of more muslims and most are properly vetted it in a while, keep everybody out until we know what's going on. you approve of all of this? >> absolutely. >> and stuart: link this with the stock market. it's very bullish mood in america? >> i think there is. people have followed what donald trump has said over the last several months during his campaign. he wants to change the immigration policy. nobody should let anyone in this country -- nobody should be allowed in the country if they can't be vetted properly. unfortunately, we've had the fbi or, secretary of homeland security, cia or, all of them have said consistently we do not have the ability to that people coming in from syria, yet we want to open the flood gates. stuart: you expect change?
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>> absolutely. i think you will see change in immigration policy and i think you will see a very organized, systematic mechanism by which we attack the enemy. both abroad and here. trained to attack the enemy here? >> aggressive surveillance. intelligence is the success of us fighting terrorism in this country. right now as we speak and i think this may have some to do with the market as the counterterrorism forces in a main title, just had four of their counterterrorism police killed. >> would be talking about? >> this is going on as we speak. there's something going on in jordan now. as you know, they have this attack on the castle yesterday. the counterterrorism forces in jordan has now gone after a number of the isis figures. ironically right before you
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bought them here, isis is promoting they will keep engaged in this battle. you have three events yesterday. zürich, berlin, the russian diplomat. there has to be a global battle against this enemy and i think donald trump is going to put the team together to do it. stuart: i want your comments because at this point so far he's not issued any statement on the berlin terror attack. he's on vacation and is playing golf. i don't mean to be sarcastic, but what's your comment on that? >> i work for rudy giuliani for 12 years. i don't give a if he was on vacation or where he was. it's something like that happen, he would be back. he's an icon in this field. vacations don't count when there's matters of national security involved. stuart: it may or may not be america's national security.
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angela merkel, germany's chancellor is the closest ally that barack obama has in europe and she's in deep trouble with this terror attack. >> we are the world's power where we are suppose to be. we have to send a message to the terrorists. we have to send a message to the people that do this that we are going to be behind the allies and if the messages and out there, if it's not out there publicly, the enemy sees it. stuart: i am breaking and because on the left-hand side of your screen and you can see what appears to be a memorial service just getting underway. is that the wilhelm church which is directly opposite the christmas village which was attacked yesterday. that is a church badly bombed during the second world war, but left incomplete as a symbol of what germany went through during the war and how it proposes to go through in the piece. there was a sign outside which says what?
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it says why. that is the sign right outside there. would you make of that? >> is so disturbing. it's heartbreaking to see. i'm almost in tears and as a journalist i've been doing this for three decades. you caught me at a bad moment. back to you, stuart. what is going on in peter kiernan have put it there is distinctly that this is an attack against western civilization. there is barbarity here and it's purposeful. systematic. they are not lone wolf attacks. they want to do this and that the blood out. they do it because they enjoy it. i talked to muslim people yesterday. they say this is not our religion. this is something else. >> i want a quick comment. police people, authority people, mumbles. you reject the use of that word,
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bernard? >> no. it is part of the enemy we face. the playbook if you will for isis and al qaeda and radical groups are calling for lone wolf attacks. they are calling for a 2.5-ton truck and run it into a group of 40 or 50 people, couple hundred people. stuart: they are lone wolves and operation of fire by a network of people telling them what to do. >> for the right reason. not because donald trump won the election. but are lone wolves might be the individual person. look at this big cloud of inspiration that gets transferred to these people to act. you can cut it both ways on that definition. stuart: while sad. right-hand side of your screen. you know, i thought we were going to hit 20,000 during the course of the show.
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i've only got six minutes left in where about 40 points the way. more than not for dow 20,000. nicole is on the floor at the new york stock exchange with a word on optimism on wall street. nicole, speak your >> no doubt. the traders are now going for the year-end rally, the santa claus peter was on this earlier talking about the changing of the party, that when you have a change of the party in an election after the second term of president obama and donald trump, that brings the stock market traditionally higher. you can also look at the stock trader's almanac and go back to the 1930, 1960. particularly when you go into december 1st, the 200 day moving average. another statistic shows optimism and likelihood to move higher. last but not least the santa claus rally. talked about all three major averages that most likely go
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higher between christmas and new year's. it is in anticipation as new money is coming in and in flowing into the market in january. looking at the stats now, the likelihood here is how optimistic. you are hearing much more optimism in the path of it the strictest sense. >> thank you in date. peter kiernan, you are the man who sat on this that and said we are going straight at. you are right. >> i think the theme of the show is weaving together. there's a lot of optimism. you can feel it everywhere. overseas when you have been expanded battlefield. i served with great pleasure on the board of the foundation and one thing we talk a lot about is the new expanded title field with the warriors. we need new kind of defense is coming to offset. we need a third offset. if the first atomic, we need something in the realm of cyberthat helps us predict and
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react more quickly to the kinds of attacks have been describing today. stuart: that's interesting. earlier spoke about a turnaround overseas copy not. we in america are going to unleash the private enterprise. we are going to cut taxes and deregulate. you think that while we are about to establish will be copied overseas? >> i think there's going to be an amazing change in 2017 because all these countries are having elections. italy, france, germany and netherlands are voting for new leadership in may will look close you to immigration policies and the wisdom of economic policies and if they see demonstrations to the alternative in the united states, they will follow our approach. we can get our economy going. it will have that kind of wonderful feeling over in europe and they'll adopt the same policy is. stuart: that's the brandenburg
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gate in berlin lit up as you can see just past sundown, sunset in germany. >> the german flag polling insight and determined to stand up and stand out in the wake of the terrorist attack. >> honestly i think that is such a movie night. when you have an ambassador shutdown of cold lead commend these are things very difficult with the mood of the market because they are so buried and caused us to sit in think what's going on here. some parts of our world are very out of control. stuart: do you think this pause in the market is the result of what's going on? >> i was expecting when the markets in europe closed that would settle everything down and have a rally into the end of the day. it may still happen, but right now there is a mood shift. you can feel it very much related to the fact that the fella who did this is on the loose and frankly that there is just way too much, i would say, exposure that we face as a nation. what are we doing?
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it is appalling. to say something to our country. this is not a local point of infection. this is a worldwide influenza and he needs to be out there. let's get a president who can. >> we've just heard president obama spoke last night with angela merkel. that is not the same as putting out a public statement. >> the national security council put out a statement. >> you stare into the screen and tell your people we will not let this happen or was take the following steps to protect yourself. i have written about just like when it happened. when people are gathered together in peace and attack. stuart: bernard first, new mood of optimism matching with going on on wall street. the future for america under
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donald trump. >> absolutely. 100%. donald trump will create a global effort to fight this battle using the king of jordan, using the president of egypt. people that it can count on. it's going to be a different day after he is elected january january 20th. stuart: rapid. >> a crescendo of optimism. it's going to spread. one question. why is the justice department on investigating the threat the electors sized and there's the money. yougrl asking it. >> i know the answer -- stuart: ladies and gentlemen, i'm going to wrap up what has been a remarkable program. it's an historic day. we've gotten very close to 20,000. we were all hoping it would hit within the confines of this program, didn't quite make it. but i want to express my thanks to all of those who appeared on the show with me, peter kernan,
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bernard carrick, jim carlstrom, elizabeth macdonald who shows us the way and what it's all about with christianity in europe, and nicole petallides on the floor of the new york stock exchange. thank you, one and all. neil, it's yours. neil: all right, stuart, thank you very much. we are keeping an eye on the corner of wall and broad where that pursuit of 20,000 on the dow comets, but a lot of -- continues, but a lot of this might have to do with just about touching that level might have to do with the fact that the assailant in berlin or at least the guy behind that truck attack might still be on the lam, on the loose. they haven't found him, they don't know where he is, but they're getting more indications of his muslim roots, and that is scaring the you know what out of a lot of folks there. obviously, that unsettles investorsç and non-investors alike. welcome, everybody, i am neil

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