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tv   Cavuto Coast to Coast  FOX Business  December 27, 2016 12:00pm-2:01pm EST

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neil: talk about trying to time the market. >> 20,000 minus 19954. ashley: nice tie. i can do math. you are going to be back. connell mcshane and for neil cavuto today. you'll be lucky to get 20,000 you never know. connell: very disappointing, actually. and i blame you for it. the dow 20,000 american dollar to stop shop on "cavuto: coast-to-coast" up by 21 points. last week at one point during the 13 points of the magical dow 20 k. if it is bad. 19,955. some sort of the milestone out of the way. the longer period of time this last week we've been watching it seems like on a tick tick basis that they can pass this number. what it means and where we are
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going from here. michael bloch and of course the nicole petallides done at the new york stock exchange. why don't you start us off. we talk all the time about resistance in markets that the reference to the s&p 500. it does seem to be some resistance anonymous 20 k. number. >> it's true. well it easy to get to remember, you don't have that. you have to breakthrough. you need a catalyst to push you through that number. but the lack of trading volume about 60% under a trading average and the headlines are not really giving the boost spirit 16 year high of 21-point. one is optimism on trump's policies with some better earnings.
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the idea is the consent is a 20,000 is coming in the near term. connell: exactly. hovering around for quite some time. we spend so much time having conversation about what happens afterwards. that's kind of what we do this time of year. what is item one would he think the most about. >> the backbone driving the market lady -- it is kind of a positive they think we are moving from low rates to low taxes and the municipal market since 1999 broke furniture thresholds like this. does that continue to drive the market to higher and higher valuations were ultimately do
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these policy changes, do they actually benefit earnings so they can have a real old market that doesn't hold some future earnings. as a transition into a fundamental rally next year or is this overenthusiasm by individuals. connell: let's talk about that a few minutes. one critical mention is the fact consumer confidence is high toy and we haven't seen it at this level since 2001. people are more optimistic when it comes to expectations about stock prices. we haven't had people this optimistic since 2004. should we start to worry your search of conversations people are becoming overly optimistic? how do you look at it, michael? >> we see quite a bit. deregulation is big. pro president and congress are big. consumer confidence is at a topping signal? i don't see which is going high
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enough. the dow 20,000 thing i've been watching fender, actually all morning. have you ever heard the term of watch part never bls? connell: after one of talking about, we are killing it here. if people want to blame the media, we have to take the blame on the phone. at some point we will ignore it. will turn our back for a second it will shoot up 50-point. i'll come back to nicole in a second. michael is talking now about the question you're asking about where we go into next year. at some point there has to be delivering on the promises made. before a new president is even inoculated, but are we setting ourselves up for some sort of at least correction? >> stops are expensive but they're not 1999 expensive. there is room if you want a valuation expansion you have a long way to go for the all-time
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highest is the clearly 2000 before we know how badly then ended. but you are now seed money falling into u.s. stock funds in a ts that levels from the late 90s. investors large and not adding money to the u.s. stock market for many years. it goes back before a way. to train 50% crashes in the s&p over a 15 year span. vc money not going to foreign funds. it's going into stock funds because it's related to rates going up an immunity bond funds because the problems of rates going up in tax benefits won't be there. a lot of shifting going on an individual investors to the u.s. stock market which is getting expensive. >> is almost the point where we are having our day-to-day conversations about the stock market. i don't think are anywhere close to where we were years and years ago. how did the dow do today?
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i don't sense that is happening that much. what is your take on this run-up? we've been killing it of course. >> maybe because people know i'm from here. i still hear people talking about the market because we're breaking new levels we haven't seen today. the nasdaq and 5500. never saw that before. we are hovering around the 20,000 marka. people are doing the watched pot never boils. it was almost a rain dance trying to get to that 20,000. connell: i just want to get it over with at this point. >> all the other guys are shouting at him, take it out. we are never going to get there if you have a hat on. i will add one point that the contrarian side, a couple things that will start to a little bit to higher spike in mortgage rate. gasoline prices up over 50 cents. the u.s. dollar really around the 14 year highs.
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there are reasons why those are okay. but those are things on peoples minds as well. connell: have heard a lot of people talk about the rising current visa with the currency currency that goes up in may are items that we sell more expensive. the dollar versus the euro and other major currencies today. to what extent is all of that price that people are looking at the amount of money huge multinational corporations to or are we discounting a ignoring it? >> i don't think it's pricing. it's a good thing for consumer discretionary stocks because there's more purchasing power for consumers. if your u.s. exporter of goods and the rest of the world, you'll be less competitive. they are rad way ahead of themselves. this all balances out.
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the other point that two weeks ago ready for the fed, stocks are looking over. right now everything has settled down and i can look at the market overall. it is the same in settling and in the short term for the inevitable number to the name i dare not mention. connell: if you don't talk about it it's not going to happen. are there changes you've been making in the advice you've been giving allocation portfolios you're seen heading into next year. regular people saying i want to shift these types of stocks or investments or is that the nardi done heading into the end of the year. >> and try not to jump on what investors want to do. i'm using the strong dollar is an advantage to foreign bonds and stocks.
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the push interest rate to do a level higher than the inflation. push mortgage rates higher than the actual underlying economy demands and then you fall out financing, mortgage rates. the 3% inflation and 7% gdp won't necessarily happen. just an optimism to cause problems. connell: what is the level of gross to you is a realistic level? trump advisors come on and say we are heading to a level. 4% is mentioned aot. we've talked about this before where there is a near-normal were slower or lower growth of some noble happen. do you think 4% is realistic? >> i think the new normal is over because we are going to get low taxes is a little overboard.
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the bottom line is we are not in a situation where stocks are cheap and there's a lot of room to cut taxes and go higher. we are already decanters lower taxes or spending cuts and double again. there's limited ability for the fiscal stimulus everybody wants. moreover, they've had fiscal spending in japan, low interest rates, 0% rate in this can't beat deflation. just because we are willing for higher gdp rate than inflation doesn't mean you will magically materialize any more than any other part of the world. you can't just expect the 1950s to combat because they say so. you don't want to get too optimistic. it's time to get a lower rate t it doesn't mean that the magic ball at. >> just a word on that point. i'm growth because that's what the tribe people are promising us.
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>> it sounds great on paper. you've got to love it. the market loves it. but we see a disconnect between main street and wall street because while loosing jobs getting better with the economy improving really hasn't been that great. i will say hopefully the growth comes as the plan and i will say that most of the analysts are targets for next year that are beyond where we are now. theoretically if you stay where you are, by next year this time he will have made for money. connell: what is your economic growth? >> let me think 4%, 5%. steve forbes a 6% assuming the greatest fiscal stimulus and the new deal from assuming china will roll over and show the underbelly. that's a little optimistic. then you have the doom and gloom crowd think chaos is coming from a recession is coming. i'm somewhere in the middle. let's call it 2.5%, 3% growth.
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certain things under pressure. keep your feet moving. >> the fed is a wildcard. they have said actions as well. >> we will stare at the screen to see one of his 20,000. thanks, guys. let's talk about something completely different the rest of the show. thanks to all three of you. are these markets proved that investors are welcome in the trunk policies were talking about when it comes to economic growth despite the fact president obama said that he would if he was able to run the would've won a third terms of the debate over those comments up next as we watch the pot up 19 on the dow. back in a moment.
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connell: back on "cavuto: coast-to-coast," president obama made some headlines with this comment saying he would want it to return. listen. >> i am confident in this beijing because i am confident that if i -- if i had read again and articulated it, they think of mobilized the majority of the american people and rally behind it. connell: arris monster that is a might expect from the many that time twitter donald trumps and president obama said he would've won against me. he should say that, but i say no way. jobs are leaving. i says, obamacare comment better. as they talk about the markets
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in the state in the state of 10 to 20,000. what about the idea ambassadors are welcoming change. the president-elect been put in place and paprika far as it does today. assays american president icing -- i will start with you. more than anything else, this comment tonight at the president went on to say i'll respect hillary clinton and everything else. that is a dig at hillary clinton saying she's an awful candidate. i would be decided she couldn't. what did you take away from that? >> alice might read as well. hillary hillary clinton is a unique slot candidate with baggage that president obama did not have. they will say absolutely you've got all these issues with obamacare msn map. he would have had a mandate this time around. it hard to say at this point
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because he couldn't run anyway. i think that because hillary clinton is a flawed candidate and if barack obama was able to hold together somehow as original coalition, particularly with high-performing african-american votes in areas like michigan and pennsylvania that could've made the difference in the electoral college. speculation is pointless. connell: it is. the capri, work with us. the dow is going to hit 20,000. please let us talk about something else. the point is a fair one and it is kind of pointless to speculate but at the same time it's sort of interesting and witty take about wickedness? the stock market is people tell us that leaves because donald trump will be president. what do you think?
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>> it would've been great. he could've turned california rat, the stock market could be even more on fire once trump are elected. i'm totally kidding. obama lost more than 1000 democrat for his party. this is not a record of winning. i understand that he used gender and class and every other division pick up they got to w twice. the american people are completely over that. when he would continue as we know he would have to win, talk about how police are destroying our country and everything is their fault and how basically anyone who doesn't fit in one of his special classes should just go away or what bathrooms we should be using. i don't does her winning topics anymore. we have come to her senses finally and we want to talk about jobs and the economy and national security announced that
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the american people spoke about. i don't think obama has any plans to do the above. >> certainly president obama, of course at the end of the day the freedom to make a statement, time to bring people together in the nation together. i have friends now lose their health care has increased by $300 because of obamacare. at the end of the day, this is a different type of america in a different nation now. it's time we come together and embrace each other. that becoming more optimistic about a change in power. is that what you're getting now? >> absolutely. but if i've been obviously in this election is a different type of election. he rose up a group of individual seminar might not go. people are tired of the political process and politician and president-elect trump came off in a whole different in louisiana take and five, and
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genuine way. his demeanor and approach is different. they thought he was a better pic. of these the people mattered in the states that matter. the question is >> it's a little bit of both. it not about president obama and his policies. talking about the fact that last a thousand seats, we need to have some soul-searching. we need to focus on the message is important to the majority of americans and that is the economy. train t. wonder if that will happen. i wonder if the democrats will do some soul-searching. >> it now, i think capri is so
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bright. i've heard a lot of democrats point to that looking in the mirror at the most. hillary clinton is to be looking in the mirror. barack obama. they could do a lot to a lot to be their party back to the card that has values and point they could run on. right now they are party of division and americans see through it. connell: we are going to move on. despite capri's comments at the beginning, i do not think this is a pointless conversation at all. >> it's always fun. >> have a great new year and all the rest. thank you for coming on. i do not fear the dow is approaching 20,000. the more talk about it, michael block is right. unless the chance to actually have been. now we've got 50 points ago. one stock that stands out at this market and stands out at the box office is coming up next. so much focus on goldman sachs in this run-up. what about disney? we have similar information on
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disney coming up right after the break. talking about "star wars."
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>> amazon.com's stock price almost $771 per share. the best of their holiday season. shipped more than a billion items worldwide. that's just it amazon's pride items worldwide did the ipo had a smaller version which is called a code.come at the topped the bestseller lists. a lot of people getting their petco for christmas. disney in the meantime with a stopwatch. the data from the election of about give or take 12% certainly help out in the dow to almost 20
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k. lawrence simonetti with the disclaimer for a meal i believe. two of the only people on earth who don't like "star wars." more than $5 million so far if you look at the worldwide is that you had not wanted to bring fantastic it is likely that disney does this year with no films video has ever done before, push close to a trillion dollars in global ticket sales. this calculation was done before these two movies even came out. knock in 2006, disney bought pixar. that is considered a man of money.
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through the vision. they made all these acquisitions with the top four films this year not counting "rogue one," "moana," captain america, the jungle book, each grossing a billion dollars and in some cases even more. >> what's interesting is that got caught up in the whole media conversation. all the big media companies that everybody is forgetting. espn had driven it for so long. not even espn is suspected by the phenomenon. you can be a business. >> with the success of the global box office looks like they are okay. connell: attanasio heard that the dow 20 k. is in reach.
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>> is that? connell: up by 66. 49. this is about testing our math skills is really what this is. i use now been to my advantage when i'm done at the new york stock exchange. thank you, lauren. you will definitely hear about it here. make some changes as we head into the new year in the 401(k) is next. "cavuto: coast-to-coast" will be right back. hrough my first options trade. we only do it for everyone gary. well, i feel pretty smart. well, we're all about educating people on options strategies. well, don't worry, i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade.
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connell: back on "cavuto: coast-to-coast." connell mcshane and bring out today. getting close to the 20,000 mark. i had the idea that we get one of those echo devices on the set here and i would ask it every few minutes. fortunately for all of you, i've been overruled or not. instead we will talk to the author oone of t best title books of all time, grow a pair. larry went on a period tell us what this rally in the dow to him as 20,000 for normal folks. what this rally is for normal folks looking at the 401(k) statements. boy that's pretty good. better up than down. what should people do with that information? just let it back?
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>> i think i'll just relax a little while in the would have been. you've got a lot smarter people than i am about what's going on in the stock market. but the problem is that you have all these newbies out there. you have to remember 53% of americans are not in the market at all who say wow, this is terrific. i better jump in and they've never had a financial plan much less a financial planner. they get online and start buying stocks so they say i can participate in this now and they are going to lose their bets by doing that. connell: we have less than they did years ago when people would watch it. an internet came around and we had the opportunity to do it online. so many people just had no clue what they were doing in the market. professionals, who by the way we can argue how much of a clue there is dared, but professionals seem to be controlling this more now. >> i think professionals are
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controlling more and more. i would tell folks to relax a bit and watch this. everybody tries to predict and i don't get predictable. most of the research is probably going to go up or her. if you want to invest in it or does not the makeup the dow. then again. do not take into consideration. not everything there a number of fact there is some talk about amending our could be going to cause a little bit and say what are we. i was surprised to see data that we are in more debt now than we were before the financial crisis.
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they were more dead. >> it shouldn't be that surprising. fairly level and expenses going up. you can either cut back on her lifestyle or you can go deeper in debt. sadly it's easier to go in debt than it is to cut back on her lifestyle as we are not a society that is paid now to ourselves. we are not good at that kind of discipline. train to know we are not. the larger question going forward there's so much optimism about the policy being put in place. will that situation you describe change because incomes has started to go up a little bit. to your point come expenses going up even more. d.c. the two clipping in the future? >> i don't see them flipping at all. the problem with optimism is that it's a feeling i may need
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to comment something more concrete. become a pitcher's statement when you get your next paycheck and a that's pretty much what you've got to work with. feeling while it is a good thing has no impact on what your wage statements. it doesn't have much impact on how much your expenses are going up. you need to take a look at your lifestyle and say how can you call back of mice that are not going deeper in debt to support myself. >> so you're worried -- you're always are. we have more and more pop domestic people coming on lately. i'm not sure if you're one of them. >> i am not a mistake. i am very hopeful, but those are just emotions. i'm a little bit more of a realist and i want to look at what really have been considered betting on a feeling of hope and optimism. but not before it had a synagogue. more in favor of business taxes
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and lowering them in on infrastructure. but all might the stock market but will they actually come to fruition. will they get to the congress can do things like. >> the back way. above we have to wait and see on. optimism is a great thing and i'm all for it. i don't want to see us really how much to optimism that we go about and continue to spend hoping things will get better. >> good to see you. thank you, mr. chairman. coming up next, starting at this new series here on "cavuto: coast-to-coast" on the trump cabinet pick. we are going to look today at the help in terms of the repeal and replacement of obama cared. but experts say he indeed may be the perfect pick for that job. that is next.
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>> i am nicole petallides with your fox business brief. dow 20,000? nope, not yet. 50 points away from that psychological level that everybody would like to see. right down the dow was up 16-point cared markets are higher across the board. 5500. taking a look at the three month chart of the dow up about 8% since the election. at seven weeks in a row.
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very narrow trading range and also over the unchanged line 171 times searching for direction. slightly to the upside. coming under some pressure today. names such as procter and gamble. the days of 1999. if you get it today would be 23 sessions.
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connell: congressman tom price, strong critic of obama cared enough for a number of years on whether this is the type of person to put in place. obviously, conservatives tell you no doubt about it. others say he has trouble getting through the confirmation process. >> i think you are really right because there could not be a better nominee for hhs secretary. he is a top-tier candidate. he's a physician. he has vast experience as a state legislator, federal legislator.
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committee chairman who really understands the need to reform our health sector. he has introduced his own legislation to reform health care back in charge of decisions about government eurocrats. since the beginning of obamacare debate. he also understands that there is a way to do this and we've learned now with obamacare the wrong way. >> to that point, it's easy to say you want to get rid of something. to replace part of repeal and replace would be with the congress and the republicans are in control, you still have a senate that they stand in the way of that replacement. where are their areas are what has congressman price, dr. price said that you like the most, something that can be done in terms of replacement? >> i think he understands the importance of having a safety
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net and a bridge. you have to have a safety net for the 20 million people are so currently receiving some sort of coverage through obamacare. making sure they don't believe that you have to at the same time build a bridge for a better system than the 20 democrats who are in the state said donald trump one up for reelection next year are going to have a strong incentive to look at ways to replace obamacare in a way that gets back to the kinds of things the american people have they want. protecting vulnerable, giving people true choices is the kind of coverage they want to buy rather than the coverage the government says they might buy. gives them more choices than cookie-cutter choices obamacare purported to buy. >> choice will be important.
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the journal this morning talks about senators in the spring states are red states. mansion, heitkamp, my task of it will have a lo plays. that's one way to do it. what needs to stay in place? we are working with you on this. >> well, legislation that congress passed last year mp joe to repeal obama cared included a two-year transition so people currently on obamacare make sure they could keep the coverage until they got coverage. assurance that they have a preexisting condition that can still get coverage. instead of mandates they will do it with incentives. because they can afford it. the problem is nobody is able to afford this coverage. you've got to get costs down and
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you do that by returning a lot more power over regulating state. that is way they are talking about for a long time of congressional leadership and letters to governors saying please send us your ideas. we want to partner to make sure we return power to the state who actually know what they are doing and overseeing health insurance market vendor like the federal markets. trade your realistic timetable will actually be repealed something due to the influx. >> that's the process part of this. by senate rules. because the sum that can pass for some legislation. republicans have 52 to.
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take a pass repeal through the senate and with a simple majority in the house. president-elect trump has said as soon as possible repealing obamacare. they will work very hard to get at least some of those 10 senate democrats to come along so it's truly bipartisan legislation. >> if indeed we get to that point. thank you very much. we will continue this series to congressman price they are. in terms of the market the dow up 20 plus points and we are getting closer to this 20,000 mark. we have not quite been able to get there. the stock market storing and other things about personal debt soaring to new highs. the other side of this economic
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story is coming out.
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to the barrel inched closer to the 20,000 mark. not everyone is feeling the optimism. dow 20,000 were 20,000 were just doing good in the end of the world. a fair balanced approach we have around here. the doom and gloom part of it. student loan borrowers apparently looking at bankruptcy as an option more and more and it is some of the growing trend. gerri willis here to talk about. >> ms. doom and gloom right here. >> new policies will get there or be careful. we talk about student loans a lot. the idea bankruptcy as part of
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the occasion is a new wrinkle. >> big revocations for everybody. the personal bankruptcy. since the great depression, recession, we've seen bankruptcies follow up the cliff. goodness. that number could completely turn around because we see more and more folks facing the $1.4 trillion in debt. the total number of people face nationally. starting to be successful with some judges are doing think that should be discharged. taking advantage of this big worry in the law. some sort of educational benefit for the money you spend students argue it didn't get an education. ashley: if you go pics amount of money and you argue and say i didn't get a benefit from it. the judge come back and say it's your own fault?
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>> what if the college went to is not accredited and you are buying of assistant in the big access. i haven't seen cases. that's interesting. it is kind of a new wrinkle with people to win those arguments. >> we see higher personal debt now than before the great recession. that played a factor. people have big amounts of huge personal debt. their auto loans. i was saying to him, too, that surprised surprised me to see that because it was in our heads back then. let's not let this happen again. to be never correct it?
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>> here's what happened. you know very well they have not been up that much. we haven't seen a lot of increases in pay. but people are paying up for medical care, hospital care, food, energy, those things have gone out. we see the bills go higher. ergo you have more and more data. the average credit card debt -- you'd rather have that than be stuck in credit card debt. >> we always thought long dead was good that, but it's turning out to be the worst kind you can have because you can't discharge in the bankruptcy could play always been the rule. people are getting what they were paying for. they are not locking in a future. they can even pay for rent these days. it was doom and gloom. i'm sorry. i'll go back and find a positive. trade to unfortunate the next story we have is a doom and
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gloom story. the breaking news has come in courtesy of tmc, a new report by carrie fisher has died. "star wars" frame and we first learned last week she had heart trouble on a flight that she was on and had a heart attack as a matter of fact. according to this report that is coming from tmc, and carrie fisher, the actress has just died. more.com "cavuto: coast-to-coast." we will be right back.
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..
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>> said breaking news that carrie fisher, but nothing known for having played princess leia is dead at the age of 60. otm the report she died, suffering a heart attack on a flight she was on this week. this report just in courtesy of tmc. carrie fisher, the actress, did
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at the age of 16. and three guests, in chicago, it is said >> couldn't get it over. i was shocked when she became ill on the flight. i knew she was in ill health, shot -- thought she would be able to recover it now we get this news, it has been a tough year. >> nothing to do with the larger picture, this year seems like
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maybe. a lot of people's past coming back, god bless her she came back, had several different iterations of her career. she did a 1-woman show i saw six or 7 months ago in which she was smoking onstage, a little overweight, she lost that weight in a hurry. a lot of people think you can just do magical things to get yourself in shape. the past catches up with you. >> only 60 years old. to ashley's first point, blaming phil flynn for not getting 20,000 on the dow, filling in for stuart varney and try as he might to get everybody excited, a lot of that was false. >> what do you make of this run-up. >> too much contact with imus. >> a whole new issue.
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we don't have time, what do you make of this run of the market. >> we can get to 20,000, really sad that carrie fisher died when the star wars sql came out this weekend, did wonderful things for disney, disney might put us over the top a little bit. who would have thought we would have been here a year ago today. a year ago it was doom and gloom, the economy collapsing, china is in turmoil and we started this year with the worst start to a stock market in history. what a come back and what optimism about the economy. we had everything thrown at us this year, with a new generation, new administration coming and we are seeing a lot of optimism. i see it in the oil market, what we are seeing in the oil market,
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not just about opec but about the expectation the economy is getting better and demand takes off. >> we have gone from the point after the election where the market 7 or 800 points to a point where we are asking questions are we too optimistic, we had great consumer confidence number the best since 2001. dave: to go before the election we thought we would see the same old stuff in economic policy over again because everyone thought hillary clinton was going to be elected and that is why the market is gloomy, that stuff doesn'wo, doesn't get the economy moving, doesn't get people back in jobs, small businesses started but with this whole new approach to economic policy, the pause i think is all about the optimism has been worked into the market and now we have to see something in terms of whether it is profits in the next quarter, january 6th, a week from friday we get the december jobs report, to see if people are hiring more
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folks, durable goods orders which people buy stuff, those orders are up, there's optimism translating to the factory floor. >> can you think of something? >> consumer confidence hitting 13 but it didn't. this idea, and hope pushed us higher but reality to have those ideas. we have a lot of traders worried about the market and i said bar humbug to you all, the strong dollar was going to kill earnings, ignoring the european bank, i would like to ignore it. the central bank still has this asset double that has been created. >> questions people are bringing up now, let's take the strong dollar selling goods overseas, it is going to be something that is a challenge for american
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companies. >> the european banking crisis is not something that is new but something we worried about last year. we have been worried about china and worried about the dollar. what we are seeing interestingly enough, at least on the commodity side, we are seeing commodities get away from the dollar, people realize there have been many years the stock market and the dollar in commodities went in the same direction and that usually happens when the market is playing growth. what we see in that break, maybe the strong dollar not much of an impediment. >> there have been periods, the mid-80s where we had king dollar
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under ronald reagan. a huge defender of a strong dollar, he grew the economy and as he was growing the economy inflation was coming down. these classic market indicators have to be looked at with a weary eye or where he i because sometimes when you have a different formula, economic policies like donald trump suggesting we have here, those formulas don't work. >> we have a whole new economic formula, they are bringing in here, override those concerns, and new sheriff in town. ashley: blowing up the history books and anything else. dave: more people involved in government than we have seen ever. ashley: these people are successful business people. connell: leading to the optimism in the markets. a great thing. connell: at least more gains.
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ashley: we have the fed, the thought is if trump gets in place what he wants to get in place even 50% is enough to upset the rise in interest rates, lower taxes, deregulation very positive but proof of the pudding is in the eating, he has to do it. connell: predicting down 20 k. ashley: friday 3:58. >> everybody -- i went to the caribbean, a place where the currency is the euro. $1.04, that is what you pay for a euro these days, not long ago 1.5, $1.50, if you want to go to europe or anyplace, now is the time, you're going to get bargains. ashley: they don't take euros. >> worried about the currency. connell: good times are here again. wrap it up, phil flynn. is there a big time concern,
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legitimate or do you think we have another leg to go in this rally once the new year turns. >> the bigger threat are china and india. china and india is like banking issues. we are within reach. i love the way we are within reach about 20,000. president obama made headlines with a podcast with david axelrod, we could have won a third term hat i run for office. the market tell is investigative are happy he did not. former senator scott brown is with us now. it is on optimism of the trump
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policies, the market seems to be running up. you wonder whether it has run too much. interesting to watch. >> the fact president obama says he didn't run for a third term is wrong because he actually did. there was michelle obama, president obama, joe biden, surrogates putting their muscle back behind hillary clinton and the american people rejected those policies. as a result you have the market which is screaming. i want to see it at 21,000. 20,000 is nice but let's keep going. the fact there was a tremendous amount of confidence is because you have lack of tax certainty, regulatory certainty, deal with obamacare, make sure we repatriate all the offshore money and ability for those
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businesses to recapitalize their companies, grow and expand and change the tax code. all the pieces are in place and here is the good news, i am rambling just a touch but i want to thank harry reid, leaving us a great christmas present because he changed the senate rules was all these nominees everyone is saying he or she has a tough time, they are not. they can't even ask for their tax returns, they can't do anything. they hold press conferences because all they need is 51. connell: you think you are helping your own party when you change the rules but you help out somebody else's party. you may have an interesting point, harry reid going out. the incoming minority leader will be senator chuck schumer, someone donald trump has a personal relationship with, they are both from new york. the ability to cut deals may add to the point you are making
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about all these things, lower taxes, fewer regulations and lead to more spending in certain areas, infrastructure and the like, they cut deals on those things. >> i'm not a big chuck schumer fan but he is an amazing opportunity to work with the incoming president-elect, they have a personal relationship. one thing i know about chuck schumer is he is a dealbreaker, the country moves forward. the fact that he stood up against what this administration did with his real showed a lot of guts and i commend him for that but you have a situation where he gets on a train or the train will leave without him. you don't need their votes anymore because you have a majority and need to repeal obamacare, you need a simple majority to implement and replace, you need 60 but if they don't want to play ball, they do what they did before, blow it up and go to simple majority and put forth anything and everything we can to move this country forward. connell: one of the more interesting things to watch is the relationship between the two of them. you can only throw a lot of
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things but not everything and there is an incentive for senator schumer to cut more deals because that is really his option to make himself look effective which at the end of the day i don't have to tell you this, what most politicians want to do, they want to look like they got things are make it appear that way. it would make him look good in other words. >> absolutely and the fact you have a tremendous amount of democrats in this cycle up for reelection you could ha situation like it was when i first came in, the republicans could have a supermajority because a lot of states democrats are in right now trump won by double digits so if they don't start to cut some type of deals president trump is going to say by the way senator so and so did not work to get you more money in your pocket books and wallets, he or she did not work to fix our tax code and call them up and they will lose and then you get a supermajority and all bets are off. connell: you are talking people like senator mention in west
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virginia just as an example or heidi camp, both of them have, a number of others if you look at florida, missouri, a number of places, we can add to that majority, put 5 or 6 or more than that, 10 senators is what the general outlined this morning with in red states. up for reelection next time around. >> that is a very good number. i like joe mention a lot. he has done a good job and people like him inside and out but he has got to play more ball when it comes to this upcoming administration. connell: will you have a job in the administration? you thought i would go the whole interview without asking that. >> i am honored to be in the next. i spoke to them a few days ago. i am in the mix, head of the va, whoever they put has their work cut out for them. it is the most difficult job and
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i am appreciative he is taking his time trying to get it right. connell: they have taken a long time, he's moving faster and everything else. what does that tell us? when you talk to the extent you can tell us mister trump or his transition team about that. why so much back and forth o that particular position? >> we have spoken, i think it is the toughest job, people are dying, our vets are dying, you want to fix it. you put somebody in there who has the ability to do that. it is bigger than one person. can't be solved unless you work together with the administration, congress, the state legislators and governors and the nonprofit groups helping veterans, needs to be a public-private partnership. i hope he gets it right. it is important for our vets and if it is not me i will work and do what i can. if it is i hope to get the same reciprocity. connell: good to talk to you, merry christmas, happy new year,
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scott brown with us and we continue to follow breaking news in case you missed it, the actress carrie fisher died at the age of 60. we learned about a heart attack she had on a flight last week. it has been reported she is dead at the age of 60. the actress best known for having played princess leia in the star wars movies. we will be right back. your insurance company
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liberty mutual insurance. connell: breaking news is the actress carrie fisher's death at the age of 60, was in the star wars movies playing princess leia a number of other credits over the years. what is your reaction?
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we talk about star wars a lot, joke around about it but no denying the effect that movie had and the impact on american popular culture and the actress who played princess leia, carrie fisher, people of a certain age grew up with those movies. what are your thoughts today? >> it is very sad. we lost some great talent. her mother was debbie reynolds, eddie fisher was a great singer, iconic figures in hollywood and she created her own fame through princess leia but she was also very well-liked in hollywood. she wrote a book called postcards on the edge which was made into a film with meryl streep, was known as one of the best script doctors for many years in hollywood. she took script like lethal weapon iii or something like that, fixed the script, aspects too many films for many years,
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her legacy is beyond princess leah. such an iconic character in the star wars films, a cultural phenomenon. her legacy lived on with princess leia. quite shocking, 60 years old. connell: she had a heart attack on a flight she was on last week, and his report indicated she stabilized after that so it became somewhat surprising to hear today that she had died but your point is well taken that she came from this hollywood family. a lot of people were just -- followed her career and didn't know as much about it and may not have realized eddie fisher and debbie reynolds were her parents. that makes it more difficult -- your first step into acting as health along but you have to prove yourself when you come from a family like that. >> absolutely. you have to have talent. she had it on multiple layers.
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she did a lot of films, she also, she was close to paul simon, had a relationship with him and dan ackroyd. she has had a full life in short 60 years, much more beyond princess leia. that is what you have to uncover and the legacy of having that family, debbie reynolds, an iconic figure and carly stevens is related to them. she was married to eddie fisher. there is a whole hollywood history with elizabeth taylor. it is a huge dynasty. phil: you are saying her talent can you play an iconic character like princess leia that is what you are going to be remembered for which is fine but you are saying her talent lies more in
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her writing. >> she had tremendous talent as a writer. one of the top script doctors. scripts are written and before they go into production, issues or dialogue were needed. they come uncredited but all of a sudden come along and do that, they boot up different scripts, she surely did that. besides having written the screenplay for postcards on the edge.eople have learned after losing -- learning is horrible news of the death of carrie fisher. liz: time we speak will be under better circumstances. some perspective on carrie fisher dead today at the age of 60. we will be back after this. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim
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connell: the dow up by 25 points, we have gotten closer today but down on the 20,000 w, the trump rally is what a lot of people are calling it, the trump revolt to some extent is still on. you had headlines from president obama telling david axelrod he could have won a third term had he run. we have gop fundraiser, democratic strategist julie regency here. it brings up, let me start with julie. the idea that he could have won, i said earlier is more of a knock on hillary clinton as a candidate than anything else but what is the deck of saying something like that? >> david axelrod answered it. it is a knock to hillary, it is a knock on the fact that she didn't run and in other interviews, she did not run the campaign that he thought he could have run successfully to beat donald trump. he believes trump is beatable. i agree with him on that.
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connell: you think obama would have beat trump? >> it is hypothetical. i could wake up at 6:00 tomorrow. probably not going to happen. not going to happen. he could have run for a third term, not going to happen, constitution prevents it which i don't understand the deck of talking about it. connell: he made headlines in doing so i brought it up in this interview that gives us something to talk about. your thoughts on this. >> he is being a little discounting to the workingman, the working-class man because it was that vote that carried trump over and i feel like trump was the only one that was able to grasp that vote, not the establishment republicans and certainly not the democrats. it is a neat -- >> face the obama -- i hate the term they see, that category of voters a lot of times will tell you they think obama is an
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elitist and may not have gone either. >> he won the states and the voters, a lot of times, trump won this time. one of the knocks -- >> he turned out minority voters. >> he also turned out a lot of voters, they keep talking about voters that didn't vote for obama in 2008, 2012 and continue to vote for donald trump in 2016 so it is not a knock on them, certainly not a knock on donald trump. it is a knock on hillary clinton. connell: i have nothing but respect for her but if you say something like that, i could have done this but she wasn't able -- >> what a way to go out. as a sitting president what a way to go out to make a remark like that derogatory towards hillary clinton and the president-elect saying everyone, we are going to make it a smooth transition and all get along, why take a jab? connell: there must be so much frustration for the sitting
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president go through eight years and have lost this race and look at us talking about a stock market that is rocketing higher and optimism about his success taking over, new policies about people looking at him and saying what you did is going to be undone and all of a sudden that is good news, it is frustration. >> that is the comment from michelle obama talking to oprah winfrey when she said a lot of people thought there is no hope anymore. actually a group of people sincerely feel that all these things obama did in the administration are pushed out the window and upset about it but the market tells a different story. a new regime change tells a different story. there are people that are very excited about this and feel we are going to have real hope especially when it comes to the economy. >> obama came in with a market being in the tank and it is up 10,000 points and is coming so
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not like all of a sudden obama is out of the white house and markets -- -- the market -- connell: there is optimism about this new administration. >> optimism from the market of course because he loves regulation. goldman sachs people in charge. >> the question for the market is going to be working-class people, is going to be, this is a knock on obama and trump, whether those policies translate to people having jobs and more money in their pockets. of the market goes gangbusters over the last eight years, not a lot of people benefited. >> the wall street mainstreet argument but if trump delivers on jobs or if jobs are delivered and trump can take credit that is a successful presidency. >> carrier number one, and when you can take more of your money home in your paycheck when taxes, you have more money in your pocket. connell: a lot of people were upset about this whole new
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world, no hope, that is based on social issues, comments about issues that are socially related and other stuff is economics. >> i think it is more than that, also based on the fact people are fearful of somebody they don't consider to be somebody they would want to see as commander-in-chief, that is my biggest concern. >> trump will govern from the middle because a lot of establishment republicans don't have favor with him and a lot of democrats don't so you are getting somebody that is actually not on either side of the isle going down the middle. connell: very civil. thank you. i am the judge of civility. we are going to continue to follow the markets and also a terrible breaking news we talked about a view minutes ago, actress carrie fisher dead at the age of 60, played princess leia in star wars, we are back in a moment on cavuto coast-to-coast.
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connell: well president obama and the japanese prime minister shinzo abe set to make history today with the visit to pearl harbor for the japanese prime minister. it brings up larger questions what happens with the relationship between the united states and japan with the new trump administration. couple of interesting things about this meeting, ben, first of all, i guess it's come out that other japanese prime ministers have visited pearl harbor in the past. years ago, done so quietly, but shinzo abe making it a public
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appearance with the american president and going to the memorial. is it of itself a big deal? what should we make of this? what should be taken away especially probably president obama's last major meeting with a foreign leader? >> this is obviously what president obama wants to leave a lasting legacy of foreign affairs. the tone he takes here -- he chose not to apologize for the atom bomb that was dropped which is certainly contentious in japan and prime minister abe will not apologize for pearl harbor attacks. relations will be important as we look with future of new incoming president-elect donald trump and what he could mean and what his relationship could mean for the future of those two countries as well. connell: look at his comment in the campaign. hey, we have military bases in japan, they should pay more for them. it will be a different relationship, right? >> definitely will. probably have a japan emboldened to some extent about the tough
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talk on china. certainly japan could see this as an opening for them to really help increase the relationship with between the u.s. and with japan but that said, there is still obviously some concerns that certain tactics, whether it be, you know the tariffs that president-elect trump has been proposing also, the call to taiwan, things like that, there is a little bit of a concern i would imagine things like that could shake up the stability in the region as well. connell: is this larger and good point that you make, if the most adversarial relationship with the united states going forward is going to be with china, donald trump is going to need some leverage when he is president to deal with china, right? a lot of people think that is really going on with russia. that he is trying to have more friendly i'm relationship with russia and make china the more, as i say adversarial relationship but japan plays into that too. >> sure. the chess of international politics and international diplomacy is fascinating and multifaceted.
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you're right, there is an opening for japan to engage its foothold in the east. but i still think they released him, experts that i have heard from, there is concern about what policies that depart from international norms could mean for the stability of that region and others. connell: finally, today this would be a bigger, deal, a, if it happened on december 7th. the president wasn't vacationing in hawaii at the time. he always vacations around the christmas holidays there. so it is happening now. this didn't happen on the 75th anniversary but also if there was an apology, right? >> certainly from both sides, things americans, american public would certainly love an apology about the pearl harbor and japanese would love poll guy for the nagasaki bombing as well. connell: that is true. neither one are going to happen, certainly not in the near future, not with this new administration we can almost count on that. ben, thanks. from "the hill" today. "tmz" reported that carrie
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fisher died at the age of 60689 the new report from "tmz," she never regained consciousness after the heart attack on the plane. that heart attack taking place, there were reports initially from other outlets that she stablized and improving. "tmz"'s report is that carrie fisher never regained consciousness after having a heart attack. new information coming in. as we get it, more details on the life and death of carrie fisher, the actress dead at the age of0. we'll be back. -- 60.
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>> i'm nicole petallides with fox business brief. no dow 20,000. we're up 32 points for the dow. 19,966. we're also have the s&p, russell and nasdaq higher. we're keeping a keen eye on the nasdaq of the nasdaq making its own big news today. that is that it crossed 5500 for the very first time. in fact, moving up to 5512. you remember back in 2000 when we broke through 5000. that was a big deal. there you go. you see nasdaq now at 5495. it did cross 5500 today. looking year-to-date, also a stellar performer. keeping keen eye on some of the winners today which include nvidia, tesla and ebay. netflix did so well in 2015. it was up 135% last year but still anwer this year, up 10%. new shows coming and the like.
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tesla is up about 10% this year. sorry, down 10%.
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>> a lot of folks say, hey, you have these ample medical degrees, one of the nation's top neurosurgeons. what do you know about doing this? >> well, i know that i grew up in the inner-city and spent a lot of time there, and have dealt with a lot of patients from that area and recognize we can not have a strong nation if
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we have weak inner cities. we have to get beyond the promises to start really doing something. connell: our close up series with dr. ben carson, the pick for housing an urban development. to neil's question in that interview. there is a question about his experience in that role. she is to talk a little bit about dr. carson. good to see you, katrina. we were talking about congressman price at health and human services earlier in the show that could have ended up there, a famous neurosurgeon at that department, to a lot of people that would have made sense but housing secretary, how do you make the argument? >> as the saying goes, it is not brain surgery. i believe if ben carson can overcome adversity and master the most complex organ in the human body, surely he can figure
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out how to use a bureaucratic scalpel to heal hud. the most important issue is get to the foundation of the problem. if he is able to do that, figure out what the breakdown and failures are, correct it and then the problems will, will not continue to occur. as a real estate professional i think that one of the most basic problems here is that housing is increasing. the pricing of housing and pricing to actually maintain housing is increasing more than income. which brings us to another issue, lack of jobs and lack of education. you know, a lot of people have failed to mention that 40% of the people in public housing are children. these children are not receiving the right education. as we all know, that becomes a problem. with the right education, you see less crime, you see less violence, and if they have a moral foundation, it sets the foundation, you know for change moving forward. but they become so dependent on the system, people are
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incentivized to have more children because they get more money from the government -- connell: you're saying less is more, basically? if you go in, ben carson, not about putting in place more housing policies, more affordable housing policies as they're often called, it is about getting economy back to growth and rest will take care of itself or? >> i think education is a big part of it. people are talking about segregation and building more. the other thing that people don't realize that 51% of the people in public housing are actually white and 45% are african-american. there is children and there is the elderly. i think he needs to figure out why the system is not working. billions of dollars being spent, tax dollars, not being used efficiently. the also data collected to prove that these systems are or are not working is really inefficient. there is corruption, let's face it. not only political corruption but a lot of americans using the system, deceiving the civil. so i think he needs to get to the root of it. connell: fair enough. we'll continue to follow this
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throughout the week on our cabinet series. katrina, thanks. if the dow were to close above that the 20,000 mark as we've been telling you, getting closer and closer to it, 19,965, this could be the shortest time plan we ever had between 1000-point mile stones. went quickly from 10 to 11,000. can we do the same, beat that from 19 to 20? we'll see. we'll be back. you could apply for a medicare supplement insurance plan whenever you want. no enrollment window. no waiting to apply. that means now may be a great time to shop for an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. medicare doesn't cover everything. and like all standardized medicare supplement insurance plans, these help cover some of what medicare doesn't pay. so don't wait. call now to request your free decision guide. it could help you find the aarp medicare supplement plan that works for you.
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connell: breaking news today, we continue to follow for you the death of carrie fisher, the actress and dead at the age of 60 from a heart attack she suffered on a flight last week. kevin mccarthy joins us, fox news contributor. obviously as we've been talking about, kevin, known as actress that played princess leia. that is iconic role.
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it is not only role but iconic role but thoughts on death of carrie fisher? >> it was absolutely devastating. the news broke about the heart attack. everyone was in disbelief. she is only 60 years old. she touched so many lives. as i'm sitting here talking to you, people are tweeting how much of a role model she was. that had a lot to do how strong a a princess leia was up on the screen. she had things going on in her life, she played characters, at least in the "star wars" universe very important to people looking up to her. connell: she was only 19, right, that first "star wars" movie made. had so many personal issues, substance abuse, on and on, starting then, continuing throughout her life. a difficult life and very well-known and successful life, right? >> then "star wars" was her second major film.
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the first movie she starred in was warren beatty's "shampoo." the beauty of the movie business, you can watch on dvd and blu-ray. she was much more than princess leia. she was an incredible writer. the movie, postcards from the edge. meryl streep played character around wrote the book and screenplay for the particular storyline. she was great in blues brothers and. we loved everything she did. her personality, every time she appeared in interview, so funny, so full of life. i loved her relationship with her dog gary. those are funniest things i have ever seen on tv where you see her in the interviews with her dog. she was so full of life. that is why this is so shocking. connell: it is horrible. way too soon. way too soon, 60 years old. kevin, thanks. we appreciate your perspective as always. talk to you soon, kevin
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mccarthy, on the death of carrie fisher, only 60 years old in terms of the market, as we watch the dow 20-k watch, we have alan knuckman for the last few minutes. good to see awe of you. retail is your specialty. we should be talking about this time of year. amazon being on a roll. i think some other retailers will do well, people going back and returning everything and maybe buying something new the next few days. >> according to retailmenot, returns are up 33%. that is how many people will be returning things i should say. connell: when they return them, even if they bought them online a lot of they do go to the store. >> they go to the store. amazon is juggernaut and taking over holiday season. retailers like walmart are struggling in its wake. you see retailers pour ad lot of money building online businesses. walmart poured in a billion dollars. same thing with nordstrom. they're really trying to catch
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up to what happened with amazon. everyone, they were delivering presents up to literally the 11th hour on christmas eve. connell: it is crazy. waiting for two hours town veil this. everybody wants to know when the dow will hit 20,000. only guy knows for sure, he told me the cubs would win the world series, what is the exact time, scott, dow hits 20,000. >> connell, so much i care about the your little heart, it is minute after you get off the air. connell: that is exactly right. >> i do think it is this week though. i think we'll get there on thursday or friday as we led end of the trade. nobody wants to sell stocks by end. world. next year i think we're worried about. i think we'll get 20-k but the january selloff, i'm worried about because the market has come pretty far, pretty fast. connell: the sports analogy, that maybe when rex ryan got us over the mark and that didn' happen. scott brings up point of short
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term, medium term, longer term, longer term there is optimism about the new administration and pro-business policies, what about short term where the market outdid themselves a little bit? >> the short-term is taking leverage from the traders. to me it is about crude. crude is the catalyst for next up leg. we're up 2%. we're at $54 a barrel. if we break out after 55 target 60, that helps energy stocks. look at dow and chevron and look at exxon. exxon has 5% to go to get to its highs. that could be the push that gives the market a leg up. connell: crude is the catalyst. scott, we don't have a lot of time. next catalyst is what? >> financials. interest rates. rates are backing up a bit today. financials are heavy in the dow. think goldman, jpmorgan. those areas push dow above 20-k. interest rates go up. connell: what do you think the
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next big thing to watch? >> certainly consumer spending. people have been spending up to $655 billion of retail season. not trillions like president-elect donald trump said. not there yet -- connell: it's a lot. >> consumer sentiment is up. that a economic indicator. connell: consumer confidence numbers highest since 2001. people are optimistic about stock prices and more optimistic, they have been, funny enough, since 2004. is that a sign we'll sell off? i don't know. interesting to see the numbers. thanks to all of you, happy new year. appreciate it alan and scott. good job out of the cubs this year and. that is "cavuto: coast to coast." we'll be back with more with the dow up 2. -- 26.
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. >> so the breaking news in the death of carrie fisher we've been telling you about, the age of 60. there is more reaction from all over the world, but mark hamill
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just tweeted luke skywalker of "star wars" fame -- attached a picture from the old days originally as luke skywalker and princess leia. what a shame, 60 years old, the death of carrie fisher. one of many stories as trish regan takes it from here. trish: she was a young woman. thank you so much, connell. president obama blasting president-elect donald trump suggesting he could have won the election if he were allowed to run for a third term. and trump firing back saying no way. we're keeping a close eye on the dow right now. it may hit 20,000 this hour. we're close! could happen. we shall see. i'm trish regan. welcome everyone, to "the intelligence report," i hope you had a wonderful and very merry christmas. a lot to get through this hour. first politics, a big slap in the face for hillary clinton after president obama said he's confident he could have won the election. he would have won the election if he were running against donald trump. listen. >> i am confiden

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