Skip to main content

tv   The Intelligence Report With Trish Regan  FOX Business  January 6, 2017 2:00pm-3:01pm EST

2:00 pm
it have gotten within a third of a point. still two hours to go. >> it is official a donald trump will be the next president of the united states. he will be leading the free world. and for wall street it will be a pricier world. >> breaking right now we had been following this multiple casualties from shooting at the fort a lot of dora airport. the suspect is in custody we will bring you the very latest news we watch the markets and the nasdaq's all hitting record intraday highs. they're coming in within one point 20,000. now about 16 points away. it's been a very busy day so far. and welcome everyone for the intelligence report. the major averages hitting all-time highs today. the labor department's release
2:01 pm
of the december job report. they're adding just hundred 56,000 jobs last month. there is room for optimism heading into 2017. wages are on the rise. that does help fuel expectations. over the next several months. joining me now very own liz mcdonald. a polasky fox business nicole pennell any awful panel. let's get right to it. let's get down to the new york stock exchange and get the mood of the traders if i can. it will be a continual flirt with 20,000. is this the day we do it quacks. >> we had tried and tried again to get through that key 20,000 mark. they were trying to do with the s&p 500. they made an all-time record high end on the nasdaq they're
2:02 pm
now trying to get to joe -- tao 20,000. were up to 19,000. and then we have the fort lauderdale shooting news. ultimately the optimism returns they just sent out a note saying now that we are making it through this shooting there probably gonna try to give it a go from 2:30 to 3:00. we are only ten points away as we speak. we've seen strength and so many of the stocks. oil is there. you do have momentum here is very possible. the question is is there enough buyers out there. regardless of the programs we will break right through it.
2:03 pm
>> we will find out. not bad enough to be worried about the economy and that in turn has helped. it's exactly right. >> the risk to the stock market is that people worry about inflation. the other risk of course is policy execution in the new trump administration. the talk on the street this market is probably today or next week. her pelican have are probably gonna have a pullback. governing is a lot harder than election hearing. we followed it all morning. we hear all the time there is a lot of money on the sidelines.
2:04 pm
we are almost a 20k. >> the volume has been notoriously lower and weaker. it's rising on the volume. for the first time in two years we saw a year-over-year increase year-over-year increase in earnings for the s&p 500. and were coming out of an earnings recession but earnings recession. we always say what is driving it. that is a good thing you see him. disney is moving higher. the key here is two things none of the analysts saw brexit, trump or the red hat -- rate hikes. they make letterman look good.
2:05 pm
what can undo this trump i do this trump rally. he could inherit a debt crisis. let me get to scott martin. if it -- is it off to the races. when we do we get to 21,000 quacks. >> it's only about 5%. we get the higher numbers and a thousand points and not that big of deal anymore. i had been putting on my phone orders. i'm trying to get dow going here. from the standpoint of the markets moving forward. looking beyond the last eight years president obama and his policies. the taxation help work and head. some of the other spending measures that will take place. and as what is taking prices
2:06 pm
higher and very confidently. >> people thought the fed was going to raise rates three times last year. scott is right yes we talk a lot about animal spirits we get the momentum play and we certainly see it slightly overvalued versus the circle average it's really about corporate earnings. >> let me bring in steve cortez. steve, thank you for joining us. the markets are moving higher we talk about this day after day but a lot of it is based on the policies that donald trump wants to put in place. if it gets a little messier in congress than he would like to see what does that do to the confidence for investors in the stock market quacks -- quacks they've been flirting
2:07 pm
with 20,000. i haven't seen this much since i went to a fraternity sorority dance. we are going to get there. we will get while through it and were gonna do it because almost exclusively because of the policy descriptions in the renewal of optimism that we are seen under the leadership of donald trump. he has even gotten on the field yet and he's already scoring touchdowns. regarding the market. for people who maybe missed this obviously very close on the tao i do think as optimistic as i am about growth for the stock market and for america in general there will be hiccups along the way and you cited one of them perhaps will be arguments with congress. i think those are going to be buying opportunities i believe even though we are heading substantially higher there
2:08 pm
will be opportunities where we can get better prices in and participate in this new trump renaissance in america. >> it is unnerving when you see 20,000 on the dow and they say i can put some money to work here. you think about the financials which have been the leader here hard to buy them here. interesting if they pullback for sure but the question is you have to walk a narrow path between overheating the economy and bring it back bond vigilantes and disappointment if you have a situation where the first hundred days of the trump administration are not able to show policy implementation than i think you suffer disappointment as liz said earnings are key and they are building and a
2:09 pm
stronger economy. if you don't get that stimulus and implementation than you can have up and you will have a pullback in the stock market. >> to that point. will they be prepared to blow up at the budget in order to flood the economy with the stimulus money. we have to think about the budget. ronald reagan faced the same headwinds. this is a riverboat gamble. bob dole undoing the first wave of tax cuts i think what he says is right. i also want to keep in mind though the u.s. compared to the rest of the world when you measure it against the world index it's up 30% asia is down
2:10 pm
by almost that much with that index. it kind of fell a little bit again yesterday. are you and believe that the strong dollar is good. with the multinational companies. see mick it. >> it does a couple of things. it's maybe a benefit as a net importing country the goods that you bring in from over seas actually cost less. your point about national companies they will suffer greatly if the dollar continues on its mediocre rise since the election. if you get a lot of their revenues over seas and the s&p that's about 15% of the revenues generated there in.
2:11 pm
we are following other breaking news this one and a florida. officials say multiple people are dead following a shooting at the fort lauderdale airport. one person is in custody. it is contained. cheryl has been following the story with the latest. >> here is what we are getting from broward county sheriff right now. multiple fatalities have been confirmed and also they are currently waiting on several gun shot victims. and one person is in custody but things at the airport very difficult right now. we are also learning a call came in at 12:55 p.m. eastern time shots fired this airport is about 25 miles north of miami. it's the high season in
2:12 pm
florida. they all fight in and out of this airport. there are several aircraft that are lined up to take off those planes seem to be still taking off but i can almost assure you in the aircraft incoming is that can be possible what we know about the place of the shooting it was in the lower level baggage claim area we just got a statement from senator bill nelson of florida he said he spoke with the tsa they told him it had been in the processing area. were trying to figure out the distinction in the bag claims you have the public in processing you have airport employees only. what you are seen with these pictures is multiple airports.
2:13 pm
those that are checking folks in. the 22nd busiest airport in the nation but it is the high season. again governor scott is in route right now he will get a briefing from the sheriff department. were going to be monitoring it from here in the newsroom. we will check back in with you. >> adam, is there a sense there could be some late afternoon buying there that could push us a crossed the 20k line. >> is not only never to push the 20,000 we could barely while keep that but that once we do hit it this sky is a limit.
2:14 pm
it depends on how you interpret the jobs numbers. then we did in 2015 and 2016 it was a wages that picked up in the last part of the year and a lot of people think that might be a good indicator of what's can happen now in 2017. we are barely five points away from 20,000 here on the floor there is a lot of momentum and expectation that we will hit it. >> of course we will be keeping an eye on that. news today that toolmaker black & decker will build a new factory and bring manufacturing back to the united states. james lori telling investors they spent to benefit from american manufacturing in the near future. this time targeting toyota on
2:15 pm
twitter. toyota said they will build a new plant in baja mexico. build a plant in u.s. a big mortar tax. brian, great to see you. there is no denying his influence on american business but is it good for the overall economy. should the president be singling out particular cooratns and companies like this on twitter? >> there is a lot of good things he can do to get the economy going. cut regulation he can create a system that works for everybody but going after specific companies is the wrong approach. you have this black & decker cressman story today it is a
2:16 pm
good news story but don't talk about threatening tariffs because it ends up harming consumers. that is what he's talking he doesn't need to flirt with that. there's other things he can spend his time on. and that is what he is doing. and it's kind of working there's been thousands of jobs either saved or created as a result of these tweets and it feels like the companies are tripping over each other to get in the good books. companies should be tripping over themselves to please customers and president trump's job is getting you to create an environment where they can do that better than ever had before. i appreciate the fact that he wants to bring a lot of jobs back and there's a lot he can do their but going after
2:17 pm
specific companies it creates a situation of uncertainty for these companies. is not the role that the president is supposed to play. >> are you still confident that the trump administration can give the kind of boost to this economy that he says he will? >> he's talking about that. you and i both now and this new year it's can you come down to working with congress and legislation on things like taxes and obama care. he has to focus on them. they can be it can be about the one off deals. this economy needs fundamental change. reforming obama care. i think he can do it and i'm hoping at the people he surrounded himself with can help them get there.
2:18 pm
>> let's go back to steve cortez. how would you go back to saying it's just not appropriate to single out companies by twitter. >> i'm sympathetic to what he's talking about. we don't want to devolve into cronyism. they do or amy. i differ a bit with my candidate on tt. i'm hoping he is using as a threat rather than a reality. it doesn't have to be either or. or we create a great environment here. i think we can do both. also make sure that the environment here is so business friendly sensible regulation tort reform
2:19 pm
plentiful domestic energy. i think we can do all of the above. i do get important he shows the american people what he can do. they don't matter to our economy as a whole. it's one of the reasons that they did vote for him in the first place. he will fight against anyone. by all accounts it is good for the economy. i think that is very necessary. we need to move away from pure dependence.
2:20 pm
if you can get a reasonable fiscal package in place. i call it a joint venture between monetary policy and fiscal policy i think it allows us the opportunity to grow the economy in a way that it does not create an inflationary surge. we had have a situation where financial assets have done great . we've have a great eight year run. we need a situation where both main street and wall street will do well. if we can say away from that i think things could be reasonably good over the next couple years. all it takes is a bad word or statement. sometimes it's those
2:21 pm
characters. with the at&t time warner merger. it's one merger deal. companies will use the rising start stock prices to do deals and if he does that with torque corporate tax cuts he is certainly not in the sea what i expect which went after halliburton. this presidency has been such a x-ray blanket on the entire u.s. economy and they were helped by the federal reserve. scott, let me bring you in. the volatility that we are likely to see in dc does that reflect in continued
2:22 pm
volatility on the markets. >> some. i think if we see pushback from the republican congress yes. the assumption is that trump well had carte blanche. let me throw something out there though. there is all of this talk about interest rates. the tenure is at 2.5 percent. we just got a really good print there as promises is promises up 4% from our research. therefore rates can go up without hurting stock markets. it's probably a good sign that growth is still to come. >> that 5% will still be historically low versus the '90s it was 4% last decade.
2:23 pm
we see foreign governments like china dumping u.s. treasury. i think we've seen at the fastest clip in 16 years. well that push that tenure higher. but scott is right. also at historically low levels. looking at the jobs report today. of a hundred 56 thousand jobs created. we really have become a nation increasingly so where instead of having one decent paying job this is a story of the last eight years. we seen these part-time numbers remain high. they want work. trump is talking about that. now he has to got there and create the policy environment for companies to hire on a sustained basis. they will do if it if the tax
2:24 pm
burden is lower. think about the last eight years and how much those things had weighed on hiring. if he can get the big policy measures through. that's what is really can change the trajectory of the economy. how great is it now that we worry about fiscal policy we can finally get the fed out of the way for years we would agonize over every little thing they would say. speemac i think it will be a real plus for the economy. i would take the other side. if we see a 5% on the tenure stock market it's can be a lot lower than where they are today. i actually think the real opportunity is outside the u.s. in a particularly keen on japan into europe and surprisingly perhaps mexico. i think it's one of the pieces.
2:25 pm
donna trump has succeeded in making them 20% more competitive than it was. i think the risk and reward in mexico is pretty interesting. >> with a number of the key national elections ahead. >> i am bullish on european financials. i took my cue from the italian referendum a couple weeks ago where you have it come in. they didn't get brexit or trump but we did get the italian referendum is a no. i'm also bullish on the euro over the dollar. it's going to go to parity we've head that opportunity i think it's unlikely.
2:26 pm
i actually want to own assets denominated in euros. we don't know how he will go about the day-to-day business of that but we talked about the fear of a trade war. how strong is he going to be with countries like china. i think when you talk about a trade or it's an economic version of a nuclear missile. you never should use it. when we negotiate with the chinese that will be the posture they need us far more than we need them but we need each other it's been an unfair relationship there is not reciprocity right now. on top of that they are in a state sponsored and or prizes actually stealing with our
2:27 pm
intellectual property. we need to take a tough line with china because we hold the strong hand in that showdown and i think there will be times when that will be scary to markets. that is when we will see some stock selloff. they need access to american markets and i think we will have a much fairer trade relationship in the end i don't doubt that donald trump is it unconventional president. there will be times when he will scare them. they have fully embraced him. conventional wisdom is wrong once again. easily won the election electorally. i think they went down seven or 800 points. and since then it's all turned around. >> let's go to the newsroom for the latest on the florida shooting cheryl, what do you have.
2:28 pm
reports of more shots fired and witnesses saying there is screaming telling people to get down. there are new reports of shots fired. this is happening in the garage. we just got some new details about the shooter. one suspect is in custody. a witness told him he was wearing a star wars t-shirt he have a loaded weapon he shot reloaded shot at people and baggage claim at terminal three he was shot for five minutes at the crowd. we are just now finding out that there are reports coming out at the airport that there is more shooting happening and people are told to get onto the floor right now.
2:29 pm
we do have a number as far as fatalities from the first shooting. were told five dead, casualties. and also the brevard medical center is expecting multiple gunshot victims. again we are getting more details about the shooter. we are being told there is more shots fired it's a very fluid and frankly chaotic situation right now at fort lauderdale's airport right now. the planes our taking off. but from what we understand no planes our landing. or even on the tarmac. the flight tower is operational. as far as that goes the planes that are leaving they are
2:30 pm
continuing to take off they were trying to take off. as the details we had right now. as soon as we get anymore details from fox. there was a shooter that was involved in the first shooting. we have the sense that it was contained. it was been handled in a very calm way and now we have this. >> that's all i can tell you right now. everybody just said get down on the ground. just a caution this is breaking news things can change as possible that someone heard a car engine go. when you a tense situation like this. to give you some cautions about these latest reports. >> five people have been killed at least eight others
2:31 pm
injured and this was in the baggage claim area where these fatalities took place. it happened in terminal three and it was in the baggage area a man in his 30s slender had a loaded weapon he began to shoot at the crowd it looks like random shooting. and then he reloaded and that he he begins to shoot again. they are waiting on multiple gunshot victims and you had five fatalities. you have security guards right there. it's amazing that someone could not have gotten to it when he was reloading. it is one of the less secure that's where people are departing. the concern if your homeland security is that those that are trying to enter at the airport.
2:32 pm
it's more of a public area. as it's a soft target. i'm not sure terminal three which one it was but delta united all operate out of this airport. it may be delta. it may have been a delta baggage claim great stuff. this is the high season. for airports in florida. adding to all of the confusion. back to our other biggest story. i want to bring in our very own liz claman. she's at the consumer electronics show. clearly what's going on in florida. there does seem to be a resistance level there.
2:33 pm
>> we have more than 400 publicly traded companies. they are here and every single auto company. regarding the shooting the security care at the show with it crowd of hundreds of the 7,000 people or more security has no -- never been tighter. they're doing multiple bag checks. suddenly that tone has changed. there a million tv screens we've have a lot of ceos running to the foxbusiness area. they are watching as they come within. we could be seen the selloff. in fort lauderdale. we have a former officer who is in fort lauderdale.
2:34 pm
there can be in the final hour of trade and count on to the closing bell. many breaking stories. love them very serious. we are on the story and when i mentioned all of the car companies here they are also looking at trying to grab everybody's attention there is a soapy car for millenials. it is out of chrysler. it enables anybody in the car except the driver of course there is a classic millennial play. it caught our attention. it is one is one of these magnet areas that we see here. were on all of the breaking news stories and we will see you then from the consumer electronics show. be sure to tune into fbn.
2:35 pm
there in vegas in viewing. the two big guys in the auto industry and the main point still with me now. we have a trump tweet coming up. we can go an hour without a donald trump tweet. this one just wayne and monitoring the terrible situation in florida. just spoke to governor scott. thoughts and prayers for all stay safe. let's go back to cheryl. we are just there. hold on the president is now been briefed on fort lauderdale. we are getting some local law enforcement they have
2:36 pm
confirmed his idaho. they don't have a motive. they have idaho to him. about two hours ago. and they are running his name through all databases. we do know that. they can confirm though to us that is frustrating what's going on at the airport garage. if you look at the life pictures right now. these are security personnel that are coming out from inside of the terminal. we are getting small shots of them. we still are looking at broward county. five fatalities. and that as a is a last that were getting at this point. the president has been briefed on the situation by homeland security and we are waiting to see what's going on.
2:37 pm
the report of more shots fired. we do have any more details right now. governor scott is on the way. there's no way he is there yet. i don't know why any of this -- this is a breaking news story developing. we are watching the video for the first time. perhaps a report of a second shooting going on. we are continuing to follow that. cheryl, thank you very much. let's get back to what we been doing on the markets. j, going back they say three rate hikes this year. could there be more if we get trump there. >> i think you have to remember that the feds forecasting i don't think they
2:38 pm
pay a huge amount of attention to that. what the market is expected in right now is expecting two to three hikes over the course of 2017 and i think that's probably reasonable if we get more than that, my concern is the bond market which well cap the upside others disagree that's my major concern. the president as steve mentioned. to me the differences that there is a republican sweep. there should be no roadblock it has been a significant roadblock. then you can have access and then you have the fiscal monetary joint venture. if for some reason the first hundred days did not suggest that there will be that kind of direct action towards
2:39 pm
legislation to get that fiscal stimulus in place that i think the stock market is very vulnerable. >> we touch this earlier. nothing ever goes as it's supposed to. i understand that skepticism i understand but i am confident that you will see very quick decisive action. one is we saw the house republican caucus a really boneheaded blunder at the first order of business. even if that was a good idea it certainly should not be the first order of business in this new congress and we have such huge consequential issues to tackle. what happened within hours they tweeted my sentiment. we bigger fish to fry.
2:40 pm
that date we saw the house republicans cave. we saw them agree. i believe that donald trump really will control this congress and perhaps in a way that we haven't seen from recent presidents certainly in the last two. the team he has assembled i think it is the best and brightest. he is bringing a group of self-starters of hugely successful men and women who i believe are absolutely dead set on making certain that within the first hundred days that they are going to unfold. namely repealing obama care. reducing regulation to much more sensible little balls. they would unleash the
2:41 pm
american economy. you see that athletes who wear the parachutes on the back to strengthen that. we will take that parachute away in this economy can really accelerate. i want to go back to the stock exchange floor. we are one hour and 20 minutes to the closing bell. it's important to know that we were trading 19,992 when the news of a sextant shooter was being leaked out. and that's where we saw the steam and momentum pull back a bit. if you get the tv screen. you have the market and you have the problem in fort lauderdale.
2:42 pm
when you have a situation like that it really does sap the enthusiasm and momentum. that said there is still a possibility that the buyers are going to come back into this market especially as we head towards four clock the less enthusiasm that needs to be. thank you very much. shooting in florida our colleague over at fox news just had a very powerful conversation with the witness at the fort lauderdale airport. take a listen. >> there have been reports that the shots were fired in the garage and their locking us down again. they just said that seconds ago. they told everybody to get on the floor michelle, get down. they told everyone to get down.
2:43 pm
everybody is laying down on the floor between the carousel. >> used the authorities running in the direction john, what are you seam. we are down on the ground. they said there something going on outside in the garage it has been our experience that there are often scarce we can hope for now that this isn't an accurate report with tensions high is our hope anyway. how are you and your wife. we thought the scene was secure. this does not help. we will keep you alive. life. you are our source. >> a frightening development.
2:44 pm
chip smith literally lain down on the floor and the garage. we got the very latest. >> here is what we are learning right now. the situation that you just played this happened a just happened a few moments ago. as far as we know the situation is still in play. the man he was talking to on the phone and anyone else in that baggage claim area and the terminal are still on the ground were seen reports of sheriff's walking with john's drawn back mac -- with guns drawn. we are still learning more details about the shooter himself he was a man in his mid- 30s. the first shooter that was already apprehended. almost three hours ago and basically when the call came in there was a shooter in the baggage claim area mid- 30s,
2:45 pm
wearing a star wars t-shirt and he have a loaded gun. he shot at the crowd looks like it was written up shooting that he was doing and then he reloaded and then he shot again at that crowd. several reports right now that he was carrying a military idaho. we are seeing multiple reports that he was carried a military idaho there is another potentially shooter situations. the airport itself this is 25 miles north of miami. this is a busy season for fort lauderdale and miami. the airport was probably incredibly busy. the one person is in custody. they are running his name through all databases. we also know the victims nine wounded victims taken to howard medical center also we are looking at a couple of
2:46 pm
things from terminal three. we believe that that is delta. you have delta, united in jetblue and spirit of flight out of there. governor scott was informed almost immediately he still has not arrived. he will get briefings if they're available for the sheriff's department officials. you local police they're all on the scene right now. what you're looking at this is a mass evacuation of the airport. the entire terminal was evacuated. everyone inside the building was told to evacuate. the last thing we heard that as that person that shepard smith was talking to on the phone.
2:47 pm
those people are still inside of the baggage claim there. they're being told to stay on the ground. there are reports that shots were coming from the area of the garage and i want to caution because this is a breaking news situation the details can change . any little thing whether it's gun shots are car back until they get more details. we are trying to get more information and to get an idaho on the shooter. >> thank you very much. just complete chaos there. still with me is our team down at the new york stock exchange. it came within a whisker. with that signal another leg up from the markets. brian, i know how you feel about donald trump's tactic of going after individual companies but are you
2:48 pm
encouraged by the type of people he is surrounding himself with when it comes to the economy? >> the republicans in congress really do wanto interact. he's gonna be excellent when looking at harmful situations. it is another. i think is very motivated to help congress get something through on obama care. he does have some very good people in place to help them with some priority legislative issues. i'm optimistic about that. i'm more cautious about some of the guys he is brought in on trade. i hope at the end of the day those are more symbolic positions. he certainly has the right people on labor and now it's a question of working with congress it's getting in there teaming up with paul ryan and his team in figuring out what can work in moving the ball in the right direction. the people that supported
2:49 pm
trump it's not just talk in tweets is actually getting things done. guess he just walked in the studio. pretty much the new to 2:00 p.m. charlie, we got within a whisker. and then we see what's going on. does that provide any sort of damper or not. >> there were some people are going shor here is a problem. the problem with this is that trump has some amazing policies. there is a lot of question marks if we get involved.
2:50 pm
people like cheap products. do you get that. it's can be problematic for the market. you must suspend way more. all of those competing interests. charles payne has a different view. long-term until he is there. this is a dangerous time. fiscal policy coming out of trump land is so muddled. we have to had to see what he comes out with. they you to figure out what to buy. >> that is a good point, charlie. to hold for the long-term or do you you get the guaranteed returns. it's a bit spooky right now. certainly not in the stock market.
2:51 pm
that's what i point out we had have a great stock market. we are at a point where the market is expensive. the folks that are to populate are not really experienced political people and they have some great business resumes but they're not political people. the concern is i do actually able to get the legislation crafted. those are three different steps that had to take place for the market can go higher in my opinion. >> we are now getting a name. two crucial pieces of information. according to senator bill nelson of florida has been in touch over the last two hours since the shooting began the name esther bonne santiago carrying a military idaho.
2:52 pm
that person is in custody. we have what is happening right now. there is mass confusion on the airport. we are getting a tweet from the tsa. there is an active shooter this is brenna at fort lauderdale international airport. what does this mean. they have a shooter in custody. there is an active shooting situation on right now. >> is this related to the second shooting? >> there was a man on the ground they had shots coming from the garage. they are confirming that be at twitter. they closed the airport and it's is an active shooter there. that is what the tsa just tweeted out.
2:53 pm
estaban santiago carrying a military idaho he is in custody. he's the one that was shooting people in the baggage claim in the star wars t-shirt. he is in his mid- 30s from we can see here. confusion goes on. they have not been given the all clear. reports of a second shooting. shelter in place. continuing to follow that. let me get to the issue that were talking about. what they blow up the deficit. you know what you're right. let's just flood the economy with all of this stimulus money. i don't see that in the playbook of the gop. >> i think it would lead to the return of the bond venture. everybody wanted to come back as a bond vigilante. it's important to stock
2:54 pm
market. i don't even think that you need to see actual inflation. they can actually create the conditions i think the bond vigilantes push them higher. i would say here is another scenario. trump economic policy is not supply-side. the head of the national economic council. he has two competing visions. they are going to say no to some of it. and here is where it gets dicey.
2:55 pm
if to put the brakes on. whatever they want to do. there will be trade-offs here. they have spending and then supply side tax cuts. you really can't have both. if be tactical if you are in investor. after all of the hype over the last couple of years this is a year of the active manager. as the year of technical investing. you really need to be fluid and keep your best relatively solid in contained. that's why think some markets outside of the u.s. where you
2:56 pm
don't have the uncertainty of a trump back and forth policy mix and as i said before that's really japan and parts of europe. >> to charlie's point can donald trump not blow up the deficit. he has it and wants to get the economy going. over the long term or not killing our budgets and deficit. it will be hard. he campaigned on some of these promises. it was a big thing right after the election. he probably well back off of these. ..
2:57 pm
taxpayers pay for it. how will that work? >> listen, reagan press saged the economic boom and stock market boom under reagan, yes, we had a couple rough years. very high interest rates, paul volcker looking to get rid of inflation. reagan came with a simple premise, he would cut taxes cut regulation and tax reform. watch the economy improve and do what you got to do. my worry, some investors worry, that he has to cut back on the tax cuts. he has to cut back on some regulation cuts because he has some desire to do, build walls. ashley: isn't that "the art of the deal," you shoot high and take something in the middle? >> you want to get the economy going.
2:58 pm
it will go a lot faster, if he does tax cuts and regulatory reform and budget hit and supply side hit will come in at some point, do the infrastructure stuff later. if you do something like that, you buy the market because the market will like that. ashley: adam, on the floor, we're still stuck, aren't we? we're 18 points away from 20-k. we still have over an hour to go. what is the sentiment on the floor? >> there was much more enthusiasm 45 minutes ago, ashley, than right now. going into the last hour, there are as you know, buy and sell orders are coming in. people are stacking up for the closing bell. and they're rebalancing the portfolios. but the big indicator that people are looking at why this could still happen by 4:00, if you look at 10-year treasury. people, the price there is going down, yield going up. money is coming out. where is that money going in? there is a belief that money is coming into equities.
2:59 pm
we have pause right now. we're not at the 19999 we were at oh so close. you don't hear people cheering and clapping that would happen if we were that kind of enthusiasm to get there. ashley: jay, does it mean anything, dow 20 thuo? >> it means something psych lodge youally but doesn't mean a whole lot. we've been back and forth on this a month or so or more. big questions, policy execution really set the stage where the economy can grow. where you have fiscal and monetary policy working together in joint venture. generate earnings. earnings growth takes stock market higher. if you don't get that i see little upside. ashley: thanks for being here. charlie gasparino doing yeoman's group. jay, thank you for joining us. the dow is up 79 points. we came within one point,
3:00 pm
19,999, you want to talk about a tease? the ultimate tease. the other big story is shooting at fort lauderdale airport in florida. ongoing situation. reports of a second shooting, last report, five people killed. multiple others injured. we're following all of this. over to liz claman in las vegas. liz: yeah, i'm here at the consumer electronics show where both those stories are front and center. people are walking past our booth. we have live feed on what you see. there are breaking development at the fort lauderdale airport. it is still active scene. tsa tweeted. we'll tell you what they said. dow 20,000, there are about 100,000 companies trying to put out a bunch of products. these are tech companies public hely traded driving much of this market rally where we got within a fraction of a single point of dow 20,000.


info Stream Only

Uploaded by TV Archive on