tv Countdown to the Closing Bell With Liz Claman FOX Business January 3, 2017 3:00pm-4:01pm EST
market should have room to the upside as we await for donald trump to officially take over as president of the united states. the inauguration on january to to -- 20th. the it will happen. liz claman into the final hour of trading. liz over to you. liz: i'm still waiting, ashley. hello, 2017. on floor of new york stock exchange. the market lost its earlr mojo. 2017 actually came in firing on all cylinders. what is that eight cylinders, that is the big one. charging higher by 176 points, shoving dow to nice peak what you could actually see, dow 20,000. that engine is sputtering. dow chopped off 100 point in gains. we're off 47 points. russell barely higher by two. s&p up 10.
back to business in the nation's capitol. 241 republicansnd 194 democrats are supposed to tackle top issues that are out there to you guys. guess what? house republicans made a sneak attack. a controversial move without debate. donald trump is not happy about it. we'll get scoop from peter barnes at russell rotunda at the center of the action. the president-elect is in new york after ringing new year in florida, going on a twitter tirade more than just house republicans. he is on a rampage against general motors have other business leaders ducking for cover. jeff flock whether his attack on gm is on point or slightly off target. the company making a 3 billion-dollar bet on next spacex rocket launch. what to expect from the 50th annual consumer electronic show
in vegas. speak preyou view of electronics you will be buying. charles payne how to turbo charge your 401(k) so the money out lives you, not the other way around. we're here on the new york stock exchange. let's start the countdown. ♪ liz: breaking news, we want to take you right now to capitol hill, house speaker paul ry who has just bn sworn himself, ceremonial swearing in other house members. you see big crowds. this first day of trading. of course he has been reelected with the house. he was real popular with the crowd. there were touch-and-go moments between him and donald trump. in his first day he already got something fraught with a little bit of drama. we'll get you that with all the
gop agenda. stocks kicking off the very first trading day with real juking maneuvering. right, left, all around. we're well off the earlier highs. i got our traders coming up. only major index last hour of trade is the dow transports. we'll call it flat. remember what happened a year ago on this very day. what a different story. we'll show you all of that and perhaps best ways to work your money. kansas city, union pacific and norfolk southern are the biggest laggards weighing on the indid decks. what do we have here, choo-choos are rolling back. look at financials, a bright spot, citigroup, bank of america, morgan stanley, jpmorgan, pnc financial. we're looking at some names charging higher at the moment. some earlier touched record highs. they fumbled many gains.
managing to get into the the green. hopes that opec follows through on production cuts. let me give you grand you you lairty. oman, not a opec member and kuwait, a opec member saying we're cutting too. that gave oil to the upside and then reversed. down about a buck 51, to $52.21 right now we lost any gains we had earlier the why? you can blame it in part on the strong greenback. like every index is tracking stocks. greenback could have nearly 14-year high. biggest gain this three weeks. the we fumbled that too. green back is falling. oil is confused where to go. let me get you on point. this is the floor show.
john corpina. >> happy new year. liz: we have our cme and nymex traders. john, what happened? why did we fumble all the gains? we were up 176 points. now the dow is up only 60? >> there is a little euphoria, seeing whether session will translate into today. haven't really seen the reason to get in just yet. they were hoping for something with the futures up 15 this morning but didn't have something that got them into the market today. a lot of economic data this week. we'll hear from president clinton next week. hear from president-elect trump next week. fomc next week. reason -- liz: did you say president clinton? >> i was, i did say that. i used to work for president clinton a longime ago. liz: okay. >> all the reasons that are there. liz: i get you. i get you. larry shover on floor of cme. wait a minute, come to me, come to me, it's oil but first to you, larry.
we first got good data john sort of referenced we got new data points. we got factory numbers. factory activity for december hitting two-year highs. that is real solid number there. >> it is. we had a string of good numbers beginning in november. i don't think the numbers are food stuff to sustain the market. i tend not to be huge fan. quarter three gdp is revised up to 3 1/2%. consensus talking about 1 1/2 gdp for the fourth quarter with significant downside risks. we have to balance that out. inflation trade, turbocharged with the election, did prop us up. caused euro stock index to rally 9% in december. italian stock market ends up the year 20%. everybody's happy. the fact of the matter there are things we have to worry about. front and center to me would be
fomc minutes come out tomorrow. keep in mind, janet yellen was fairly, fairly hawkish back middle of december. not really implying we really don't need fiscal stimulus. fact she will not let economy run hot, et cetera, et cetera. i continue not to be a fan of the market right now. liz: listen, you have to put in slashing signals. four fed heads speak this week. let me get to oil. >> yeah. liz: luke, off to the races when we hit 18-month highs for oil but we fumbled that. there is hope and prayer that opec announced cuts back in november would be solidified. we don't see that. oman and kuwait said we started to cut. >> this opec agreement is kind of like my diet every year. you start out with the best intentions but what is going to happen nine months from now.
i just don't know. opec to the its act together. i say a couple of things. u.s. production and rig numbers, haven't gone up. that might change oil price as lot. oil is acting well the way the dollar is. i will warinvestor ooil stocks. i'm hearing a lot oil companies edged future production at 55. meaning if oil gets to 55 they will not profit from extra move in oil. they will produce more or oil continues to go up they will not participate in it because they sold that off. you have to be careful you want to be in commodities especially this year in oil, you need to pick the right companies or actual commodity. liz: it was a great trade, six months ago you bought oil names. >> absolutely. >> look like you're in the money. great to see all of you. happy 2017. thanks for being here on the first annual floor show, john, larry, luke, great to have you
guys. thank you very much. we have breaking news right now, who has been reelected speaker, already facing a firestorm. what is this about? well, speaker paul ryan took the microphone half an hour ago urging leaders to listen to the american people and not focus on little stuff that matters more to the actual politicians. oh, they already fumbled that one. president-elect donald trump is grabbing headlines because he is furious at what the house, at least some of house republicans decided to do. he believes they picked the wrong battle as their first fight in 2017. it involved a certain office for house ethics. peter barnes is on capitol hill. peter, of all the issues that the country faces, we've got people working two jobs, we've got obamacare and that big battle, house republicans pick ad certain office to attack supposed to keep theand corruption in line? >> reporter: yeah, that is right,
liz. not exactly draining the swamp as far as donald trump is concerned. this involves a provision that was in the package that the house is actually taking up right now as its first order of business. package on the rules, the way it will conduct its business and way members will conduct themselves as they proceed with the legislative agenda for the new congress and yesterday, house republicans included in that package a provision to eliminate this semiautonomous office of congressional ethics, which is not part of the house ethics committee. it was set up in 2008 ethics scandals back then but some house republicans and they say, and some democrats have been upset with this office because it has been allowed to take anonymous tips from people about the conduct of members, in some cases unfair and specious they charge. but, the, and they say it is not due process. but, the leadership, which
didn't really want to do this, including paul ryan, listened to them to allow it to be part of the rules package. donald trump did not like it one bit. he tweeted out this morning quote, with all congress has to do, has to work on do they really have to make weakening of the independent ethics watchdog, as unfair as it may be the number one act and priority? focus on tax reform, health care and so many other things of far greater importance. that triggered a emergency meeting on part of house republicans. they pulled the provision. they may look at this later in the year but it is out for now. speaker ryan in his remarks today did not bring this up when he was addressing the members. he in fact thanked donald trump that his election gave husband republicans an congressional republican as once in a lifetime opportunity with unified government. listen. >> now they have let out a great
roar, now we, their elected representatives must listen. so i want to say to the american people, we hear you. we will do right by you. and we will deliver. reporter: house democratic leader nancy pelosi said in her remarks, introducing ryan, we will reach common ground when we can, but we will stand our ground wherever in good conscience we must. liz, back to you. liz: peter, thank you very much. right in the middle of all action in washington, d.c. we're right in the middle of action here at the new york stock exchange. we have a closing bell 48 minutes away. touch-and-go for this market. why do i say that? because we have rolled back most of the gains, trampled all over them. i want to remind you, the dow had been up 176 points. nasdaq was up 69. keep your eye on the lower band. you can eat least for the dow,
we're up now only 60 points. what is dragging it? look at mcdonald's. point to mcdonald's as the biggest drag on the dow 30 after opening its first restaurant in of all places, the vatican. i'm not sure the is any connecon between that and the fall in the stock but certainlies that's interesting. couldn't the pope give the stock a blessing? guess not. let's give nike a big prop. nike starts the new year with a hole-in-one, announcing the signing of the world's number one golfer, jason day. the global sports equipment-maker got out of selling clubs and balls in august. they're still selling golf clothing. the golf trade propelling nike going from worst to first. with the dow leaders, got a helping hand with upgrade from jeffries. up next, donald trump targeting general motors in the latest attack on big business. he got today started with a big twitter storm.
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fox -- we'll give you a little fox business lesson here. when they come out on press release on first day of 2017, not just our job to read it an relay it to you. let'give you a little context this hit the tape a couple hours ago. first it was rumored and came out as fish, from intel, world's largest chipmaker. hey, we're buying into the german mapping company. the chipmaker is buying 15% stake in company called here. digital mapping company controlled by audi, bmw, daimler, who bought the company from nokia for 3 billion. this is like fox business comes in, unlike all the business networks. yea, intel. intel may be late to the mapping party. it is trying to take on increasingly crucial market for self-driving cars but there are
some other companies already doing what here is doing. intel does have agreements with bmw and mobile aye and delphi. remember mobile idealing with tesla, to develop driverless technology, but with google wais dominating space like qualcomm, they're making serious strides in the driverless space, intel might be stuck at stand still as it muscles its way and shoehorn its way into a crowded space. the stock is getting teeny little pop, up half a percent. that is good for the stock. over the past year the intel is up five years. the reason you want to watch fox business and not other business networks we give you context. it is competitor, nvidia, graphic chips superstar is up 220% over the just the past year. so if you're comparing, oh, what was nvidia doing that was way more exciting and juked the stock way more than what intel
is trying to do and some analysts believe it's a little late for intel. okay, we're 41 minutes before the closing bell rings. president-ect donald trump going after yet another major american company today. general motors this time, the target. if you look at gm's stock it is waiverring and moving slightly higher. in fact we have trump targeting the company after it announced last year, plans to lay off 2,000 employees at two u.s. auto plants, that is spoused to happen early this year. trump decided to focus in on something that works with his promise about trade and making it fair trade. here is what he wrote, quote. general motors is sending mexican made model of the chevy cruze to u.s. car dealers tax-free across the border. make in usa or pay border tax, end quote. general motors is added to the list of american companies that are big gigantic targets that have themselves on their backs finding themselves in the bull's-eye of billionaire
businessman president-elect. they join ford, carrier, boeing, lockheed martin. we sent jeff flock to really crunch the numbers to find out if general motors is doing such a terrible thing by manufacturing a certain kind of chevy cruze. there is more to this story, isn't there, jeff? reporter: you betcha, liz. gm came out right with a response. i've been to the plant in lordstown, ohio, where they make the lion's share of chevy cruze. i will change up the order to show you because i want to show you numbers on chevy cruze they make in the u.s. and other vehicles they make in mexico they have to compete with. the they have very cruze hatchback is made in mexico. they sell very few in the u.s. mainly for international markets. it is chevy cruze sedan is made in lordstown, ohio. they make a ton of them. it is a big plant for gm. they have to compete with other vehicles made in mexico by
competitors that get shipped into the u.s. without tariff either. look at those. the mazda 3, honda civic, nissan sentra, toyota corolla, vw jetta, they are made in mexico and shipped into the u.s. if you tax gm, big tax donald trump talked about in the his tweet, you have to tax them all. if you tax them all, price of vehicles goes up. donald trump got a win today with ford, announcing it will scrap the plant. we got reaction from the mexican government by the way. they're scrapping that plant wn in mexicohey were going to build. would be 1.billion dollars worth of investment. -- $1.6 billion. the mexican government is saying that the mex company will reimburse the mexican government for anything associated with pulling out of the plant. donald trump took credit for this tweeting today, ford to scrap the mexico plant and invest in michigan due to trump policies. neil asked mark fields point-blank today, would have
done this if donald trump was not elected? mark fields said of course we would. it is based on business conditions and lower demand for small cars. but he did admit the business conditions, positive business conditions are the result of donald trump's policies. listen. >> the factors we're looking at is more positive u.s. manufacturing business environment under president-elect trump and some of the pro-growth policies that he is, he said he is going to pursue. and so, this is, this is a vote of confidence. reporter: now, liz, ford as you know made other huge news today. that they will electrify the mustang. they will electrify the f-150. they will have an all-electric suv and a wireless charging civil. this is something you address with mark fields later this week when you head out to ces. that news got buried today. we didn't get a chance to ask mark fields about it. you will do that later in the week. liz: that's right. it is 50th annersary of the ces.
they're callg nsumer electronics show, ces, the consumer electric vehicle show. they want to call it the consumer auto show and car show, 20% of the 2.5 million square feet of the las vegas convention center are dedicated to auto. reporter: next week in detroit we have nothing to talk about. no thunder. liz: detroit auto show is next week. i will live you a chicken bone. president-elect trump went off on ford. that will be front and center during my interview with mark fields. that brings me to the fact that we're going to be also showing you an autonomous vehicle by delphi that is going to be absolutely crucial. we'll drive around las vegas and you will see it. ford, nissan, mercedes, bmw showing of off new electronic check. fox business is there.
as after a dvt blood clot,ital i sure had a lot to think about. what about the people i care about? ...including this little girl. and what if this happened again? i was given warfarin in the hospital, but wondered, was this the best treatment for me? so i asked my doctor. and he recommended eliquis. eliquis treats dvt and pe blood clots and reduces the risk of them happening again. yes, eliquis treats dvt and pe blood clots. eliquis also had significantly less major bleeding than the standard treatment. both made me turn around my thinking. don't stop eliquis unless your doctor tells you to. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. if you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. while taking eliquis, you may bruise more easily ...and it may take longer than usual for bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk
liz: well spacex's last attempt last year to put a satellite in space was nothing short of an explosive failure. you remember this? after four months of testing and reworking it, elon musk, ceo of the rocket ship startup says he is ready to roar into space once again. who is the gutsy company putting a payload on there? iridium communications. they say we'll try. they will put 10 iridium satellites on the next spacex rocket.
it will head out from vandenberg air force base. they will replace its satellite network. we'll watch $3 billion worth of its equipment will go up on falcon 9 in six additional flights. iridium is moving higher. up 9.3% to be exact. let me get to a different galaxy. that would be a galaxy far far away. movie-goers are heading there. that is what helped this box office of 2016 pun into never-before-seen territory. disney's "rogue one: star wars story," remained in the number one spot. raking in $49.5 million. the "star wars" spin-off grossed 800 million at the global box office. what can we expect in disney in 2017? lori rothman is here. "rogue one" -- >> did you see it. liz: please. my son went -- >> i cried at the end. liz: i'm done, i can't deal. i'm so, i was back with the
first one. jabba the hut, all those guys. listen. >> listen, no spoilers here. this is pretty awesome if you're disney shareholder. upgrading shares to 120 bucks a pop. pointing to tremendous success of disney's film unit n 2016, disney had 25% market share. the total ticket sale dollar value, 2.billion. that is just here u.s. 2.7 billion. that is tremendous for disney. liz: they also have pixar. pixar is definitely generated huge returns. "finding dory" blew everybody away. i mean i don't care what art film or what "star wars" film you loved, "finding dory" was the one. >> "finding nemo" i preferred. liz: there is no argument. >> to quote another analyst, disby started new year off where it left 2016, in terms of movie-making studio, number one.
liz: thank you very much, lori rothman. 29 minutes before the closing bell rings, up next, saying goes, as january goes, so the rest of the year on wall street. well that wife's tale definitely blew itself out of the water and was a disaster last year in 2016. will this year follow suit? we certainly hope not. we'll show you what happened on this very week last year. you may not want to remember it. selective remembering. forget it back we'll push back in your faces. forewarned is to be forearmed. we're 17 days away from president-elect donald trump resuming office. there is a live picture from trump tower where he sets the tone for 2017. today it is all about jobs, trade, general motors, gitmo. adam shapiro with latest tweet from trump tower, with surprise guests say, yeah, we'll be at the inauguration. "countdown to the closing bell" is coming right back.
liz: check it out. we've got this breaking news. president bill clinton and former presidential nominee hillary clinton and of course donald trump rival have just responded that they will be attending the inauguration of president-elect donald trump on january 20th. now if you announce you're attending, means you got an invitation. they were insited. they are coming. it is just 17 days away. the president-elect seems to have started early, today, tweeting levens tiles in the past 24 hours his opinions and his plans on matters from everything ranging from guantanamo bay to the affordable care act but the topic that grabbed attention of wall street and quite frankly the rest of the world, because this is on the front page of "usa today" and every other newspaper, is
not get he mow bay but something that -- guantanamo bay, but something that involves business adam shapiro outside of trump tower, with the headlines and bravg few rain drops. adam? reporter: the big headline, that hillary clinton and former president bill clinton will attend the inauguration. that was confirmed by fox news. the other big headline because the president-elect is back is his nomination for u.s. trade representative, robert light highser. he was a deputy trade representative during the bush administration. he has negotiated two dozen bilateral trade agreements from everything from steel to grain. he is no newcomer to this kind of job. he is knows what he is doing and president-elect donald trump's nominee. there were the tweets you mentioned and a new year and whole bunch of new tweets from the president-elect. very first one which he said, quote, general motors sending
mexican-made model of chevy cruze across the border. pay usa or a big border tax. chevy cruze is made in lordstown, ohio, that is eastern ohio, you know that area well, liz. but hatchback version is made for export into foreign countries and a few in the united states. there was news of ford, scrapping its plans for a $1.6 billion project in mexico. instead investing $700 million in plants at michigan. ceo mark fields actually said, this is quote, with a new congress they have indicated th will pursue, were vital to the company's position on the tax policies and regulatory reform that's coming from the new congress and new administration. mr. trump then tweeting, ford to scrap mexico plant, invest in michigan due to trump policies. tweeted earlier, instead of driving jobs and wealth away, america will become the world's great magnet for innovation and job creation.
the only other thing happening here today. there were two visitors. leo mckay on the board of directors at lockheed. he is a graduate of the u.s. naval academy and presumably being interviewed regarding the position to run the va. also, joseph guzman, the professor from michigan state university who was a hispanic trump supporter who took a lot of chiding from his students and faculty at michigan state because he was a trump supporter. those are the headlines from trump tower. back to you, liz. liz: i don't care who anybody supported during the presidential election, you have to be comforted and happy noting that the president-elect sure looks like a work a whoic. he is takeing this extraordinarily seriously. he barely takes any time off. whether you agree what he is doing, at least he is in it hopefully to win it. thank you very much. adam shapiro. reporter: you got it. liz: wall street historians, live here on the floor of the new york stock exchange they are
a superstitious bunch. they look back to history and say, yeah, this happened seven times out of the last 18 years. it is numbers juju here. they say as january goes so goes the rest of the world. last year proved that little thing totally and utterly wrong. show you what happened at this very month last year. january of 2016, the dow plummeted. it was a stomach-churning drop. 5.5% in january on all kinds of fears, initially worries about china growth. it was the biggest january decline since the depth of root session back in 2009. what a difference rest of the year was able to make. blue chip index went on to log the best performance of 2013 with a 13% gain. you know what happened with the russell? 19% gain. nasdaq did beautifully as well. same with the s&p. so what are we expecting this year? same as last year? or hopefully something little
different when it comes to january? let me bring in the floor show part deux on the first trading session of the year. >> great to see you. liz: todd colvin at cme. make your prediction, will we see a little bit of a selloff because we got such unbelievable run over the past three months of last year? >> it's poible. we certainly had a roller-coaster ride so far today. we had a lot of consolidation the last two weeks of the year. so i think it's, it's important to just take a real close look at the market for the next three to four days, see where we are at end of the week. we'll get december employment reports and, then, we'll get an idea maybe what sectors and what stocks the strongest money flows are going in and out of, maybe for the rest of the month. liz: so glad you brought up money flows. i was looking at lipper numbers. lipper is one of the organizations that can aggregate
a lot of the numbers. the last 41 weeks investors pulled money out of stocks funds overall. in the final week of trade last week, u.s. stock funds saw inflows. so, to see everybody as fraidy cat and pulling their money out 41 weeks straight, oh, thinking now it's good, what kind of message do you get from that as we head into the first couple weeks of january? >> well i think that investor were fearful of missing the big move, and that's going to start with tomorrow's news from the fomc, the minutes from december, which over the last year we've seen the minutes come out, they come out after the meeting. you peel back the onion you get a sense what the fed is going to do. at the december meeting said they want three or four rate hikes. that is all hype. the minutes will give us first look why fed believes three or four rate hikes are necessary. we heard the same story last year around got only one. so invesrs need to be a little
more cautious this year as we enter 2017. liz: everybody told them to be cautious last year. then they were too scared, tim. >> liz -- >> it is helping that the january indicator has been thrown a curve last couple years. liz: okay. >> i think in the past people became a little too come place ain't. january sets the playbook for the year and makes it too easy. liz: okay. >> one thing people haven't talked about a lot, we might set up for stock-pickers year. there will be winners and losers, the market, might, all sectors of market might not go up and down simultaneously. liz: that means you have to stay with fox business and listen. we have the best and brightest. that includes todd come -- colvin. >> happy new year to you too. liz: todd wants you to add tiny bit of caution and doing that by
watching fox business. closing bell 15 1/2 minutes away. all of them as means of saving for our golden years. but now the people who are the early adopters of 401(k)s, way back in the early 80s are saying wait a minute, now i'm not so sure. they're putting up red flags on 401(k)s. well, look, it is a system that actually has some positives to it, but guess what? you can always learn to fix things and make them work better for you. what are you supposed to do when one retirement tool are saying, buyer beware? making money host charles pae is here to put a srt carinto your 401(k). to make sure your money outlasts you. "countdown" coming right back. ♪
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liz: okay, guys, i need you to look, the dow just added 45 points like that on to what we had been seeing here. the dow was up about 94 points. art cashin, head of floor operations just stopped me and told me, 1.4 billion to buy on the close. with the close 10 1/2 minutes away, that is a bullish sign. we're climbing back up, certainly getting to highs of session would be a tall order. highs of the session is up 176 points. we're not there yet. you guys heard of buyer's remorse? we're calling thisne backer's remorse. the original brains behind the 401(k) concept say they actually regret pushing forward the retirement savings tool that congress approved in the late 190's. so the original hr guys from johnson & johnson, this is great way of forced savings for people, but their hit list of reasons for shame, include the fact that employers pulled a
little bit after bait and switch. they replaced pin shuns with 401(k)s with the big market drops and high fees on customer worrisome. many people have no choice to invest in 401(k) to save for golden years. they like the fact, this is good part of it, come employers do match if you're in it you can stay in it. there are betterays for the smarter 401(k). protect the fears of early adopters. we're bringing back the ultimate stock-picker and market maven, "making money" charles payne. happy to see you. >> happy new year, thank you. liz: when you have the cake and batter around put the cake in the oven and don't just turn on the oven and leave for 19 years. you have to keep checking on it. maybe that is the first thing people need to do with the 401(k), not just turn their back on it and expect the employer will do right by them? >>is the key. i think another thing, don't take it out t oven every time you think something's
wron listen, i've been on both sides of this. as a small business owner, i watched people in their own personal 401(k)s, people i advised since 1985. and i got to tell you, liz, people panicked when markets get nervous. today's session is prime example. dow up 30. now up over 100. someone sold last three hours. someone might have sold their 401(k) the last three hours. if you make the sort of commitment, make the commitment. i agree with you, shame on corporate america and shame on mutual fund companies to your point charged high fees, traditionally underperformed, one of the dirty little secrets the main mission is to accumulate assets under management. so they give you a new fund and has a great name. new horse son fund or first frontier fund or sky to the moon fund. they sound fantastic. you think i'm getting diversified. they all own the same thing as
far as top 10 stocks. then they own a bunch of stocks that are losers. it is a terrible formula, obviously i'm glad these guys are starting to have buyer's remorse. something i've seen happening a long, long time. i'm glad it is public knowledge. liz: don't take the cake out of the oven constantly but keep an eye on night absolutely. and commit to it. liz: commit to it and keep your eye on it and craft it, bring it along. if you're not watching charles payne, you're not very smart. 6:00 p.m. eastern. i just love your show, charles, because you have been so right on some stocks. you're a business brain. and happy 2017. >> thank you, my friend. thank you very much. >> anytime. closing bell, we're just seven minutes away, up 94 points. i thought this one was a goner today. not some stay with "countdown to the closing bell." new year, new you, newport foal? whether you're looking to take risks or play it safe. names you need to buy to make
liz: take a look at the big board right now. the dow jones industrials now up 102 and climbing, 103 and climbing, can we see 104? i told you that our cash, the guy in charge of the floor operations, more than a billion dollars to buy. people are seeing bullishness right now. so let's bring in ross gerber, kawasaki ceo who was bullish and smart last year. every single thing he said on our show last year on multiple appearances turned out to be correct and of wells fargo really economic minds. all right. to you, ross. you said we will not see a recession. in fact, you got in a fight with charlie gasparino over it a few months ago and next year we would be having a decent economy. what are you seeing for 2017? >> i see it even better than i thought last year. you know,
with trump becoming presiden and wi theolicies of really reinflating the economy with the right types of spending and tax cuts, i mean, this economy i think is just getting going. you know, i really almost look at the last year as kind of a stealth recession and almost look at this as a bull market. it feels great. liz: then, mark, what kind of economic data is keeping the market from hitting dow 20,000? we sit here, oh, we're within 20 points. that was two weeks ago. is there some kind of psychological that will hurting the markets? >> i think the psychological hurdle is 20,000 itself. that we keep probing and keeping close to it. but it's a psychologically tall hurdle to climb because we've had such a good run. stocks are fairly fully valued right now. you look at the ratios, they're not atrociously high, but they're a little bit above
their long-term norms. liz: give me your top moneymakers for 2017. let me make it a little bit easier for you. there's a safe sort of drive powder-type names that are pretty solid and then the risk choices. give us your risk and then safe bets. >> okay. so the risk bets, i really took a big position in chesapeake energy last year, which paid off hugely. z: i rember. >> but we think natural gas is a huge thing, and there's a lot of trump policies for exporting natural gas, and we think that's a good pick. on the safe side, we like disney, and it underperformed last year, it has everything working for it, and we love the company and management. liz: mark, as we hear the clapping for this final hour, are investors, is there a weaker growth number gdp for december? 15 seconds. >> i don't think so.
i think that the economic news is going to be pretty good going forward. we're expecting kind of a goldilocks scenario in terms of gdp growth. not too hot, not too cold. should be good for investors. liz: we like that. hey, happy new year to both of you. the market closed the first day of trade to the upside. let me take it to david and melissa for after the bell. david: thank you. well, stocks kicking off the new year on a high note, markets closing ending in triple digits up more than 100 points i'm david asmand. happy new year. melissa: i'm melissa francis, this is after the bell, we've got you covered on the big market movers but first, here's what else we have for you this hour. donald trump is the driver seat from mowtown to washington taking on general motors and ford. e president-elect scoring a big victory on capitol hill as well. hous republican yanking controversial ethics measure