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tv   Markets Now  FOX Business  December 31, 2013 11:00am-1:01pm EST

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dagen: thank you, hope you have a wonderful night and we will see you in 2014. ending 2013 on a positive note, a new fox news poll shows majority of american voters say it was a good year or even feeling more upbeat going into 2014. up, up and away, home prices, case-shiller report shows home prices up more than 13% in the last year, that is the biggest jump since february of '06. we are already looking down the barrel of the first snowstorm of the new year, and tim tebow is not back on the football field. coming up on this hour of "markets now" three a." can't wait for the ball to drop here in new york city on the east coast, a good day, final day of 2013.
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a look at shanghai. that is a celebration, lots of lights, major crowds, enjoy. shanghai, china, new york city, almost in the heart of times square in new york city and preparations getting underway. the barricades are already up and a million people will cram the heart of new york city. there is a look, ringing in the new year and a happy new year to all of you. stocks on track to set another record on the final day of 2013. lauren: it looks like stocks want to go out with a bang. could be the 52nd record close for the dow industrials this year. going through a new intraday high. yesterday they didn't do that, but they might today. closing at another record high. hitting any record high today.
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the nasdaq is up. looking at all 10 sectors positive this year. the discretionary sector up 40%, health care up nearly 40%, the less time they had been in the green was back in 2010 so really a broad-based year of gains. twitter stocks seeing green after two days of serious selling down 18% over the past two days getting back some of that momentum. twitter had been a volume leader on thursday, 3 million shares changed. a lot yesterday, so the momentum definitely picking up once again today. back to you. dagen: thank you, we will see you shortly. a majority of americans have a positive view of this year. a new fox news poll shows 51% of the voters feel 2013 was a good year for the families up from
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42% who said the same thing last year. what to make of this and the new year. cohost of the independence errinairing on the fox business network at 9:00 p.m. business time. good to see you. the economy is not so bad, better than it was a year ago to the point people are not feeling better about their own situations. >> unemployment 7.8% a year ago today, now down to seven, the growth rate 2.8, now 4.1 and those figures on the news as opposed to the fiscal cliff and all these sort of disasters in washington keeping us in suspense where we can barely keep our champagne chilled. both have left people feeling more optimistic than a year ago. dagen: people just don't give a flying you know what was what
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happens in d.c. as long as it doesn't impact their own personal situation. >> the same level of optimism and 2013 as we did in 2011. was it because they took the pole in december? all of the news was coming out of washington, fiscal cliff and government shutdown. people bumming you wrote, so your poll numbers go down. look at these things i have completely different ideas with their own situation will be go good. these should not be partisan numbers but 77% of democrats think next year will be good. 50% of democrats. republicans think it will be bad. depending on where you are actually at, which makes me think it is having to do out of it not necessarily state of well-being. dagen: midterm elections are coming up so you will see a lot of negative campaigning assuming
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what happens with obamacare. how does that way on peoples psyche and well-being. >> it is posite positive to seee numbers after terrible, disastrous year with obama. dagen: i don't knock any precedentprecedent for going on. >> i was in california for 16 days, so i don't begrudge you that. in any case, it really fascinating a year from now if the good economic news gives the democrats something positive to talk about in the polls versus obamacare, which will continue to unravel and negative unintended consequences and maybe this gives them a balance which they did not seem like they had even a month ago. connell: the good economic news is still pretty limited. still talking about wall street. the long-term labor force
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participation rate is still terrible, worse than 1978's a lot of people are feeling pain and will get the obamacare. dagen: don't underestimate record stock prices. people look at their 401(k) statement at the end of the year, they will look right about now. connell: it does not affect everybody out there. it is going to affect consumer confidence positively, but only so much unless it starts actually coming up in employment figures. the matter if the unemployment figures are down. dagen: biggest problem, what do you think it will be? >> employer mandates take in for obamacare, not just the self-employed people. you're going to have people small companies and big companies losing policies and the madness will continue. it will be fallacious as 2014
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unfolds. connell: things people can't plan what they're doing in the future, that is the problem. dagen: congratulations on the new show. thank you so much. now on the housing market, you know why people might feel good? the value of their home is going up. they check it, it is recovering. case-shiller home price report. peter barnes from washington with more on those numbers. peter: single-family home prices rose to 10 sub 1% in october, less than expected according to the case-shiller house monthly index. but post the strongest annualized gain in more than seven years up 13.6%, the biggest year-over-year increase since february 2006 back in the bubble days.
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one of the authors of the report says don't expect that to continue in 2014, but also don't worry about a new housing bubb bubble. monthly numbers show we are living on borrowed time as the boom is fading because price increases are getting smaller month to month. predicting closer to historical averages. the key question for housing in 2014 is a federal reserve efforts to keep mortgage rates low to be quantitative easing bond pprchases, which it is starting to taper. prices in 20 cities in the index rose year-over-year compared to a gain in las vegas and 20% or so gain in three california markets, all of them were hit hard in the housing crisis but don't call these increases a sign of a bubble to come, that was caused, he says, in part by sub prime and zero down payment
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mortgages which lenders don't offer many of these days. dagen: zero down payment was great, you don't put any of your money at risk. peter, thank you so much for that. happy new year, be well. we are joined now the phone by the editor of the gloom, boom and doom report. happy new year, good to talk to you. >> happy new year to you and all of your listeners. dagen: thank you very much. you were a man with all the money being pumped out by central banks who had worried about inflation. instead of gold, one not borrow money and buy a house? that is a great that if you think inflation is going to take off. >> thought it might be an idea, but had the idea two years ago and wrote about it at the end of
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2011, home prices in atlanta were cheaper, offering a great opportunity. i don't think it is offering a great opportunity, stock prices and political implications of both prices going up. but i can assure you first of all according to a gallup poll, only 52% of americans own directly or indirectly stock, although 5% owned 72% of all the financial assets, the rising stock prices affecting the majority. they have no impact on the ordinary american. the home prices, a lot of people lost their home, now they have
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the pleasure to go and rent homes with rising rent. so they use the disposable income did well done, mr. bernanke. dagen: do you blame ben bernanke for that? let me step back, why are people according to this poll, why are they feeling better this year than they were a year ago in america? >> america has this quality of being very optimistic about the future, america involves everything. the reality that if you analyze why the economy has improved, it has been coming down on paper, but in actual fact the unfunded liabilities are running at something like $6 billion per year. money printing, if you're
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printing enough money, it falls to someone. they go and spend, and so everybody benefits somewhat, but i have to say somewhat. dagen: if you bought gold, you lost a quarter of your investment. what do you tell those people? hold on, you will make it back in the new year? >> i am just saying basically people who are disciplined, diversified asset strategy, some real estate, some in gold, some inequities, you would fare better than to buy high and sell low. dagen: that was very sound advice for this year, the new year and any year.
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mark, happy new year again, we hope to see you very soon. very clean, very polite. dagen: be well, my dear. thank you very much. residents in a southeastern, north dakota town evacuating after a plane explodes sending toxic fumes into the air. details on that story. not because he is back on the field. and she is the biggest winner in the price is right daytime history. why is that woman freaking out? we will tell you coming up. [ male announcer ] this store knows how to handle a saturday crowd.
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dagen: coffee prices taking a hit down 20% capping the worst year in two years and a decade. lauren simonetti at the new york stock exchange this morning.
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lauren: is it frustrating coffee prices are down as a commodity but maybe only one price decrease earlier this year from major coffee makers? that is not fair. coffee commodity is down sharply on an annual basis but the coffee stocks are up and up sharply on an annual basis. let's show you green mountain. amazing charts to look at, and as you can see starbucks up 43% this year as well. green mountain up 73%, so it has been a great year for stocks like this. back to you. dagen: we have to remind people of dolly itself up 26%. an update for you, more than half of the residence in north dakota have been evacuated after a mile-long train carrying crude oil derailed and collided with another train triggering a series of explosions less than a mile from the town. they sent plumes of toxic smoke
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into the air, and officials have been urging residents to evacuate. the weather system could blow the toxic fumes into the town. the burlington northern santa fe railway says 20 cars caught fire after the derailed around to 10:00 p.m. yesterday. it raises concerns of the concerns of transporting by rail rather than pipeline. berkshire hathaway will trade $1.4 billion of stock it already owns in phillips 66 for one of the refiners smaller chemical businesses. it will help capitalize on a 2008 investments you made in conoco phillips which used to own phillips 66.
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in that deal, he paid roughly $82 per share for 85 million shares of conoco which now trades at $70, but today's acquisition shows how the oracle of omaha can turn even the worst deal into a good bet. coming up, tim tebow ringing in the new year with a new gig. we will tell you where he landed. one of the most popular resolutions year after year, losing weight. how many of us actually stick with it? almost nobody. we will tell you about that.
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and she might have if notor kari, the identity thief who stole jill's social security number to open credit cards, destying jill's credit and her dream of retirement. every year, millions of americans just like you learn that a little personal information in the wrong hands could wreak havoc on your life. this is identity theft. lifelock offers the most comprehensive identityheft protection available. if jill ha lifelock's protection, she may have bn notified before it watoo late. lifelock's credit notification service is on the job 24/7.
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as soon as they detect a threat to your identity within their network, they will alert you,rotecting you before t damage is done. and lifelock offers the proactive protection of checking and savings account takeover alerts. lifelock's comprehensive identity theft proion ards your social security nuer, your money, your cret, even the equity in your home. it doesn't mattew old you are or how much money you have. identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. [ male announcer ] while identity theft can't be completely opped, no one protects you better than lifelock. and lifelock stands behind their protection with the power of their $1 million service guarantee. you have so much to protect and nothing to lose when you call lifelock right now and try 60 days of identity theft protection risk free. 60 days risk free. use promo code onguard. order now and get this document shredder to keep sensitive documents out of the wrong hands. a $29 value free.
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♪ ♪
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dagen: that is right, let's make some money with charles payne each and every day of the year. he is looking to engineer his construction company seeing amazing worldwide growth. deals in russia, poland and saudi arabia to name a few countries. charles: you look fantastic, by the way. i can tell you what is interesting, these o are the bi, giant construction projects. in the last five years annual
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growth was down 18% each year, that is going to make a major reversal of 15, 20%. the stock itself already breaking out. in the third quarter had a record amount of new orders year-over-year, i just see this company being on an amazing move to the upside and it is all about the entire planet, mostly doing oil refineries, those type of things. two in russia, one for refinery in kuwait. they have three projects in saudi arabia and three on a steam gasping. in argentina, this is just since the october quarter began. dagen: we talked about you are part owner of the business when you invest in the stock. i have been fascinated by businesses like this because the logistics of executing and executing well and growing like that in countries with a myriad of problems is just astonishing with these companies can do.
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charles: it really is. you think about making a large capital investments in imagery. we have our own energy with natural gas and all that stuff. the rest of the world wants that stuff as well. it bodes well, i think it will be a big order for us next year. did you hear my last one? i hope he is watching. i don't have anything outlandish. everybody's going for the low hanging fruit. i wish i could come up with something crazy. the day obama becomes a republican, it is crazy. tto crazy. somebody 70 make the craziest production you can, whether it comes true or not people will say now that guy is something else right there.
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dagen: tim tebow ending 2013 on a high note. a new gig. the former quarterback was dropped but in england patriots at the start of the season this year after ending a tumultuous run with the new york jets. he has been hired as an sec analyst for espn when it begins in august, 2014. his first appearance will be in next week's pregame coverage of the bcs championship game. don't worry, tim tebow says he will be pursuing his dream of playing quarterback in the nfl. so there you go. hopefully they do full body shots of him because he looks good. don't put him behind the desk, make him stand in front of a big monitor. the more i get myself into trouble, the time of your people are looking for love. online dating sites seen the biggest spike activity from the
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weeks between thanksgiving and new year's eve. 26% increase in the week following christmas and other popular app experience a 7% increase the day after christmas. not just the holidays that drive traffic, people off of work. during the government shutdown in october, 800,000 government employees for load, member activity increased by 110%. so more than doubled. you can go to starbucks, do it face to face. nevermind. will big pharma blaze a new trail and embrace legalize marijuana? talk about riding the high. a price is right contestant taking the biggest prize in daytime show history. why is that woman flipping out? we will tell you, coming up.
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dagen: shares around $0.10 from a multi-year high. lluren simonetti, what is the story there? lauren: some stories may be on that the private equity firm, that stock is up also today. 6.8% stake in the chip maker. this means we could see changes next year, may be a or reorganization business. making chips that read and write data on hard drives, the biggest companies or the biggest customers western digital and seagate technology. back to you. dagen: thank you.
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marijuana could become big business for big pharma with more states looking to follow colorado and washington's lead and the legalize the drug for recreational and medical use. so will traditional drug companies blaze a new trail? joining me now with more, director of pharma research. number one, do you think nationwide marijuana will be legalized? ultimately that would drive big business getting into it, right? >> when i think about pain management and the challenges in the drug industry develop the next generation, there has been a lot of setbacks, so to me when you look at trying to embrace different techniques, i think there is a lot of evidence that supports using marijuana for pain management and because of all of the challenges we have seen so far in drug development for other alternatives, it opens the door for that potential.
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dagen: this is a question, not a statement, what would keep big pharma out of development getting into the marijuana business so to speak? they have trouble with abuse of the painkillers that are used today, with that prevents the big companies from may be getting into this business? >> i think so, that could really limit the interest by big pharma. there is a handful of key players in key management already. and having that sort of turned in place to stop folks from using it inappropriately is a big headwind from those who want to potentially get more into management. the other side of the coin as well, also keeping pharmaceutical firms at bay is there is more of a focus toward immunology, areas of high unmet medical need and i really think that is where a lot of the
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dollars are going for research and development away from pain come more toward the other therapeutic areas. dagen: are the other companies that could be a more suitable fit for the business of marijuana? >> when you shift toward the specialty pharma players, think about like endo. these players are more likely to be more interested in pain management and go down the path, that might be okay for them to maybe be a bit more risky with the deterrent of maybe using marijuana and other off label settings. they may be more okay with that, they may see it as a big pr risk versus the specialty pharma that may be more willing to take on that risk. dagen: interesting conversation
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as always. please come back in 2014. >> thank you. dagen: an update on michael schumacher who remains in critical condition with severe head trauma after skiing accident on sunday in the fresh helps. he is doing slightly better after undergoing a second brain surgery last night to reduce pressure on the brain. the head doctor says they have to continue hour by hour surveillance. still too premature to give a prognosis. wearing a helmet when he struck his head skiing in the alps. this lucky lady is the winner of "the price is right"'s biggest prize in daytime show history. why is she freaking out? i freak out like that as well if i won what she did. not many of us are going to be good at sticking with our resolutions.
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we will play the top resolution. maybe kim kardashian should stop taking selfie's, maybe that should be hers. one of the words on the list of banished words. and we all hope interest rates don't go through the roof, they are in check today, up over 3% to wrap up 2013. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ instinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim frm td ameritrade.
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dagen: tim time now for your fox business reef. consumer confidence jumping 78.1, rebounding from 72 reading in november. finding consumers more optimistic about job prospects in economic conditions. walgreens notes it will fill prescriptions for patients with not received a planned identification number under president obama's new health care law. nation's largest drugstore chain said they will provide 30 day supply of certain prescriptions with no upfront cost. excluding complex and expensive medications like cancer drugs or treatments for rare diseases. retail sales edging down some intensely% in the first four weeks of december compared to november. the index estimate was for a drop of four-tenths of a percent. that is the latest from the fox business network, hoping you
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have a good new year.
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dagen: along with new year's eve comes new year's resolutions. with 40% of americans making them, only 8% will stick to them according to researchers at the university of scranton. joining us is antiobesity activist. lose weight is everybody's resolution. >> the number one resolution. dagen: you don't believe in making that resolution. >> so few people actually succeed in their resolutions, they end up feeling bad about themselves. for the rest of us work out every day, the gym is clogged, waiting in line. until about valentines it is a mess. dagen: if you want to be thinn thinner, how do you begin this? why is it better to begin jun june 10 than january 1? >> the novelty of the first
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wears off and it is not fun to lose weight, it is not exciting, it is really boring, it is a grind, and a after day resolution. dagen: wer you're not really encouraging people. >> that is the reality. it is a pain, it is really hard and never stops. i come from a very overweight family. it is really hard to maintain a healthy weight and you feel the world conspires against you. everywhere you go especially during this season from home into new year's there is nothing junk food around. and you look at the television, nothing but commercials to lose weight and then to eat. it is really difficult. dagen: even you believe in moderation. i was talking to rhonda, one of the camera operators hear about this rum cake we had over christmas. it is finding that balance, if you're trying to lose weight, can people find that balance? what happens is they try to integrate, they try to introduce
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delicious things they used to eat. >> if something is your favorite food, it is a 10 for you. you can probably have a 10 every now and then. it is just a reality. if we are unable to be honest with ourselves, to lose weight is to be absolutely honest with yourself and say i am unwilling to be unhealthy and i am willing to do what it takes to be healthy, and hour by hour decision. you can go 199, if decision 200 is a brownie, he may have botched the whole day. it is just hard. dagen: why don't people start with the exercise rather than the food at least initially?
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dagen: if you could start by walking and getting out, you will ultimately weigh less because you can do more. >> fat or thin you cannot be healthy and less exercise everyday. you just cannot exercise off of a rum cake. unless you are michael phelps. dagen: there is a thought now in terms of diet or losing weight people will tell you not to exercise initially and do a dramatic calorie cut in your diet, exercising to make you hungry and it inhibits the initial weight loss. >> you have to be honest, how can you control your impulses. that is what this ii about. what do we teach kids about the food impulses? we don't teach anybody impulse control.
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dagen: so if you can control your food impulses, he can become like a freak who screams at people. >> that can be your new year's resolution. dagen: you can get control of your food impulses can make and let loose in other areas. >> image and calories, and here is a good inch mark. think of your ideal healthy weight, but as a benchmark for how many calories you can have, it is not a lot. the average american guy can have 1700, 1800 calories per day. women around 14, 1500. if you want to eat more, you have to exercise to burn those calories. dagen: i was counting how many calories i used to consume on a daily basis and it was a lot of calories. like 3000 calories a day, which is a lot. >> yes, exercise every day. i will give you a few.
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there are so many apps for your phone now to keep you on track, and nike field band, jawbone. so many options to keep track but you have to say no a lot and that is the bomber of it all. you have to be used to being hungry. dagen: good to see you. here is somebody who ended 2013 in style. "the price is right" contestant from washington took home the most valuable prize on the show in daytime history up today. why is she freaking out? she won the game called gas money and she won audi worth about $157,000. to top it off she won $10,000 in cash and if that wasn't enough she took home a pair of shoes worth over three grand. her total winnings over $170,000. i would definitely go on "the
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price is right" if i could win a car like that, easy. take a look at natural gas prices rising steadily thanks to the frigid temperatures across the country. jeff flock joins us live lakefront from chicago. standing outside on new year's eve. jeff: if you want to burn calories, stand out by the lake for degrees. take a look at the weather map. this text we dislike in terms of abnormally cold temperatures. the blues, the green, it is all abnormally cold. demand for natural gas. look at the meter on the websi website, high demand right now. that generally means a boost in
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prices. if you don't want to play the futures, which of course are volatile. the etf about 11% increase year to date. chesapeake energy up 62% year to date, southwestern energy also had a pretty good year. take a look at the numbers today. you can see the boost in natural gas futures prices, but today we are down about 2%, natural gas inventories, we will talk about that at the 1:00 hour. watching the 1:00 hour. a shuttered coal plant. when prices are low, they begin to go off-line, a lot of them have been shut down, epa regulations as well somewhere a shutter coal plant is out of business, show you that, it is cold everywhere.
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dagen: what is your new year's resolution, my man? >> tried to stay out of the cold. dagen: give me something good. >> i am going to be more healthy in the new year. i used to be pretty healthy until i had this job, so i really would like to be more healthy. dagen: you look good from the waist up. >> you cannot even see me, can you? i cannot hardly see anything myself. dagen: thank you, jeff flock. lakeside in chicago. as the year comes to a close, so does the life of certain words. which one miley helped put on the list of banished words. i want to wrap up a year when a look at the year in pictures and you don't see kim kardashian. how about that? and times square filled with about a million people.
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people freezing in the first storm of the year is headed this way. take a look at some of the winners on the nasdaq. welcome back. how is everything? there's nothing like being your own ss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion isn order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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dagen: as 2013 comes to an end come you're looking live at times square before it fills up. lake superior state university compiled a list of words that -@should be banished from the english language.
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i am on board with all of these. here are the top three, coming in at number one, selfie. a word used to scrub it kind of taking photographs of yourself. what is more annoying, the word or the photograph? number two, twerk. she was at the video music awards on mtv, and there you have it. and number three, hashtag. you know what, you can use it, just don't say it, how about that. and next year on the list of most interesting people award, the most viewed the photograph, any of the kardashian's are not on that list. just under 12 hours away from the ball dropping in times square, it is freezing out there already. maria molina has the latest from the weather center. maria: i am here taking a selfie of myself. dagen: at least you did not say
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i am just here twerking. i am not encouraging you to do that. maria: maybe that is coming up. a little tease. just kidding. let's take a look at the weather forecast for midnight tonight, so many of you are going to be heading outdoors and i know you want to know what the temperature will be like. i do not have good news for too many of you because it is going to be a very chilly night across most of the lower 48. look at new york city, the temperature will be 25 degrees but you have to factor in a little bit of a breeze with the wind chill around new york city going to be in the teens for the ball drop. in chicago the temperatures will be 10 degrees, and it will be snowy and the snow will be a community across portions of the midwest. otherwise farther west in l.a. not bad, 56 degrees for the temperature at midnight it will be warming up and relatively quiet conditions. for miami, in the 70s coming up at midnight.
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otherwise, i want to show you now temperatures across canada. some spots looking at temperatures that are colder than 50 degrees below zero. as you head out doors, feels 58 degrees below zero. that is dangerously cold, and we're seeing some of the arctic are moving southward into the upper midwest, in fargo i feels like 39 degrees below zero. a number of current wind chill advisories and warnings in effect out here because talking dangerously cold, frostbite becomes a concern in parts of wisconsin, minnesota and north dakota. he mentioned some snow in the city of chicago, winter weather advisory in effect in parts of northern illinois, indiana, widespread three to 6 inches of snow forecast. please be careful as the storm continues on the move. take a look at this forecast thursday into friday, seeing some snow across the northeast,
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you could rule out 6 inches of snow in new york city, the worst of it has to be thursday night into friday morning, still a lot can change with the storm system. models all over the place, so we will keep an eye on it. back to you. dagen: thank you, happy new year to you. and a happy new year to everybody. in the next hour, let the showdown begins. cheryl casone and all-star panelists with the issues facing us all. counting down, you don't want to miss it. just by talking to a helmet. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adiums. but, of course, 's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before.
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and she might have if notor kari, the identity thief who stole jill's social security number to open credit cards, destying jill's credit and her dream of retirement. every year, millions of americans just like you learn that a little personal information in the wrong hands could wreak havoc on your life. this is identity theft. lifelock offers the most comprehensive identityheft protection available. if jill ha lifelock's protection, she may have bn notified before it watoo late. lifelock's credit notification service is on the job 24/7. as soon as they detect a threat to your identity within their network, they will alert you,rotecting you before t damage is done. and lifelock offers the proactive protection of checking and savings account takeover alerts. lifelock's comprehensive identity theft proion
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guards your social security nuer, your money, your cret, even the equity in your home. it doesn't mattew old you are or how much money you have. identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. [ male announcer ] while identity theft can't be completely opped, no one protects you better than lifelock. and lifelock stands behind their protection with the power of their $1 million service guarantee. you have so much to protect and nothing to lose when you call lifelock right now and try 60 days of identity theft protection risk free. 60 days risk free. use promo code onguard. order now and get this document shredder to keep sensitive documents out of the wrong hands. a $29 value free. ♪ ♪
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cheryl: i am cheryl casone. we have a show for you today on the last day of 2013. welcome to the showdown. we are putting today's guests against each other and we will cover a wide range of topics. market finishing the year
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strong, the dow up 26%. will the bulls keep running in 2014? scott martin says yes. my tablet says you shouldn't be all right now. they are here to debate coming the. key tax breaks set to expire tomorrow and the new crop of taxes are added to the books. doug shoen and scott hodge are here with what you need to know. looking to buy a home in the new year? four leading housing experts around the country are going to battle it out to convince you their city is the best. all this and more in the next hour of markets now. here we are on the showdown. i am cheryl casone doing things a little differently as we go into 2014. we decided to look at 2014 and give you our best experts joining me today and i am lucky to help all of them but we pledge to the floor of the stock exchange for a check on the
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markets with lauren simonetti. >> 26% gain for the year. best year since 1996. the s&p also seeing its best year since 1997. excellent timing because i point out the nasdaq. it is a new record high for the year. 4,177. on this final trading day, a couple hours left until 2014, all three major averages hitting new milestones so really has been an excellent year and going out with a bang. the russell 2,000, small stocks, smaller names, the s&p up again, if you're keeping track for the year it is up 37% so as you can see the deans of been broadbased this year. cheryl: lauren simonetti, see you 14 minutes from now. you heard it, stocks on a tear this year setting record after record but can equities keep the
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momentum. going into 2014 let's kick off the first showdown with the ceo of chadwick financial advisers and scott marden, chief market strategist at fox news contributor. you say we are heading for dow 20,000 and you will make the act based on what? >> based on the fact they already have them in position. listen, it is one of those things you need to look at when considering a valuation. i won't say the market is cheap here. i don't think it is expensive on irresolute term but it is cheap versus other assets and that is the whole thing. if you are up pile of cash walking down the street, that is a really cool image, you will go one of three places coming into bonds, commodities and the those things have been smoked in 2013. you don't want to go near those for the equity party being new year's eve and that is where people will go. there's a lot of retail money on
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the sidelines, a lot of doubters, nonbelievers. that will keep the market going until people are convinced. cheryl: you are not a believer at all. i don't know what you will be doing, the eeuity party. where will you be? you don't like stocks in 2014. >> i will be at a party but i will be very cautious heidi play assets. i disagree on the valuation metrics. people are behaving on an emotional level, chasing what is working right now. the valuation perspective i am very cautious. whenever we reach these valuation levels historically it is pretty ugly moving forward. cheryl: pretty ugly going forward. >> it was mentioned in the previous statement, the tech sector, that is up 30% from
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industrials, pharma which we talked about, up 30%, this is a broad base rally and anything about the valuation is trailing or futureing, we are in the midteens, not necessarily expensive, back in the 90s more than that. in 2007 it was more than that and your bond portfolio in the balance allocation was way overvalued, at 14% and they have--and only three and you tell me someone will go out and choose blondes instead of stocks, i don't think so. would argue a lot of things are expensive. we are and global asset bubble. bonds are expensive, stocks are expensive, commodities expensive, they got beaten up but we wonder why with all the money printing going on across the world's top gold, silver, and they should all be doing really well.
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to his point, in 2007-99 things were more expensive but today things cannot be considered cheap by any metric. corporate profits as a percentage of gdp are as high as they have ever been. last year was a wonderful year. this is not sustainable. not even close. cheryl: what is your concern. you are pointing a good thing, corporate profits looking strong in 2013 as we go to the final quarter. what is your worry here about 2014? what will take the party off the rails? >> here is my concern. corporate profits are high from a historic perspective. on average corporate profits have been 6% gdp, almost double that. they are not sustainable. corporations have been doing a great job cutting their expenses, cutting their people, their costs, moving jobs and production overseas, profits look strong but only sell much you can cut. lot of top line growth, how will
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we get increasing profits year over year? cheryl: scott making a strong point companies, the numbers they have been making because they have been cutting back on employees. good point. >> there point. give him one there. also corporate balance sheets are healthier than they have never been. corporate profits are up but also doing great job on the balance sheets. look at the financial collapse. an area i have hated for years convinced me to buy some because their balance sheets look pretty robust. that is the other thing. if you are looking at corporations the cycle is starting. they are pulling out of what mike was talking about, cutting the bone, starting to hire and spend money on tax, r&d, that will be less the next couple years as hiring comes back and wages might rise sparking inflation which on the release cycle is good for real assets. cheryl: the point is good about wage growth. >> in the high end all for a
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wealthy consumers doing great. the consumer who is struggling in the middle class, we won't see a big boom in our economy because our economy based 70% on the consumer spending and consumers are kept out. corporations are in good shape, they have done a lot of refinancing of loans. another thing to think about, corporations refinancing great rates, liberation of all from all across the board they cannot stay here. we are in a good equity environment, asset prices are high, mainly due to easing money policies which never allow -- what did easy money due to the housing market? what disease in many do? they don't behave responsibly. this easy money party does not end well, not even close. cheryl: we have together back in one year and see who is right. you are saying forget it, this will be a big bone in 2014. one of you is great. thank you very much, happy new
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year. from markets we move to housing. we are looking at where you should invest in the new year coming up. we have got not two, not three, four guests to tell you why we should buy in their city. in won't miss this one. i you looking for love on line? you may have the best luck this time of year. as we go to break take a look at the new year from bangkok, thailand, just ringing in the new year, fabulous evening in thailand and a nice day in new york city. we will be right back. [ indistinct conversations ]
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[ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fodent, and forget it. cheryl: the dow may end year on the 52 record close. up we're 52 points. here is where the fun begins. that is a nice time to look at the markets. here is the dow for the year. this is a 26% gain for the dow
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jones industrial average. it gets better if you look at the s&p. the s&p for the year at this point up 29% and the nasdaq actually 5 percentage basis points, a bigger story. look at the nasdaq, 4170. you are looking at a gain of 37% and change and we have a few hours of trading to go. hang out with all of us today. stocks every 15 minutes, on the floor of the stock exchange, lauren simonetti social networking stocks which we have been talking about every day redounding right now. >> if you look at names like twitter, down 18% in those two days but coming back you see twitter a 6%. yesterday there was up you research center poll that said no more u.s. adults used linkedin and twitter. i am not one of them but that is what they are doing. names like linkedin, almost 1%.
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i should mention the number of hours and minutes they are engaged on those sites is bigger on twitter. nevertheless facebook, momentum stocks this year for shore and momentum stocks today up 1.5%. so the names that got hit pretty hard making a come back today as with the broader market. cheryl: see you at the bottom of the hour. we are getting breaking news into fox business, just getting this, white house official, over 2 million americans have enrolled in health care coverage through the web site healthcare.gov and state health care websites according to u.s. administration officials speaking with reuters, just getting breaking news into fox business. we will keep you posted if we get new data from each of those states. speaking of going online, this time of year many americans are looking for love.
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online dating sites are seeing the biggest spike in activity in the weeks between thanksgiving and new year's eve, reporting a 26% increase in the weeks following christmas and another popular 7% increase. according to industry experts it, over the holidays, traffic is also off of work. during the government shutdown in october when 800,000 government employees were furloughed , member activity increased 110%. something to do. the government shutdown not having a big effect on the u.s. economy this year. we continued to chug along so are we on the right track. two of my personal favorites, do not see eye to eye on this one. we will figure out coming up. as we go to break, new zealand
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welcomed the new year earlier today. as we go to break, after some fireworks, how the world's for currencies are faring against the u.s. dollar.
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cheryl: we are going to talk about your moves. all our guests are going to be the the hot topics involving your money going into the new year. let's get to the next showdown. americans are feeling better about the economy. according to the latest fox news poll 51% of people thought 2013 was a good year up from 34% four years ago. 54%, the economy will fare even better in 2014. will these feelings last going into the new year? let's bring in crist dorsey of economic policy institute joining us from washington d.c.
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and fox news's contributor and president of orlandoflorida -- let's start with you. with regards to the economy you say this is a fake economy, nothing israel about the economy. what do you mean? >> all of this is on the back of the fed printing money, getting ten year yields down from 1-1/4%. it is back to 3. i want to see what the economy does when things are normalized and the fed is out of the way. i don't think the economy can stand on its own from here and the economy is just ok, nothing gargantuan, better than it was a year ago but i do believe it is on the back of what the fed has been doing. cheryl: what do you see that is good? >> we have momentum, things are moving much better but let's not get it twisted. we have not yet recovered from where we were four years ago so people are right to feel good and people are right to hit feel hopeful that tomorrow will be better but what none of us
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should believe that is smooth sailing ahead. there are a lot of things that are hurting ourselves in terms of economic growth. cheryl: like what? >> we are underinvesting in this country at historic levels because we were so preoccupied with the debt congress and the president's gets together, conspiring to reduce spending and investments that grow the economy and that cooked in for the next couple years, a terrible mistake by congress and the president. cheryl: at the same time the thing that helped the stock market again, dow up 26% year to date as we go into in the the close. the markets are doing well. the fed has been working in that fixing of money and they're pulling back 10 billion we should say. >> short-term and medium-term it has absolutely worked. i worry about the long-term. if you go to the printing of
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money, it never ended up well, this is the first time going forward. a couple points on the market. two best examples i can think of in the dow, boeing is up 100%, earnings growth only 10%, 3 m up 45%, earnings growth of 3%, valuations getting stretched but i got to debate a little bit here about this spending by government. my friend, government is spending more money on a yearly basis than they have never in history. let me finish. there was a fly on an elephant's but, this little sequester. they're spending left and right, talk about investing it should be the other way around. get government out of the way, let businesses flourish, let americans flourish and get out of the way, too much not too little. not 17 trillion debt out there affecting the economy, short, intermediate and long-term.
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>> is not news that the government spends more than it used to. everybody spends more than they used to. there is such a thing called inflation. not really relevant. what really matters is the percentage of the economy and as a percentage of the economy we are spending at historic lows and that hurts growth. that next issue is whether or not the economy can survive without government support. >> on that we agree. it doesn't mean that the fed has to do quantitative easing, what it does mean is it invests in things that get the economy going. >> in 2008 the government spent $2.7 trillion, 2013, $3.7 trillion. i am sorry, those numbers you are talking about don't work. i believe government is too big, too bloated and we were told about certain costs about the affordable care act, there's nothing affordable about it. that is the next element in the
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room as we move forward, another big worry on the economy. i want them out of the way. cheryl: i am out of time with you both. some monitors where you are sitting by want to show this promo. you are in your boxers today. happy new year to you both and your families. thank you very much. working to buy a home in the new year, four leading housing experts are going to battle it out to convince you the fair city is the best coming up next. and miley cyrus battling to stay relevant this year but when university helping to ban the word she helped popularize coming up. x÷÷÷÷÷÷÷÷÷
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cheryl: stocks every 15 minutes, let's head to the stock exchange, lauren simonetti, atheist ought not taking any rest as we go into the final close of the year. >> talking about target specifically. look at the chart. it is up 1%, level 6317. as if this major security breach hasn't affected the stock price at all. a couple names going up. window dressing today, target is down 14% from a 52 week high. there might be some moving to be had. still to the upside, in
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minneapolis, a gift card, 40,000 of them purchased over the holidays, they weren't processed correctly. thinking they got a target gift card for christmas, without going through a headache and fixing it yourself, another headache in addition to that security breach, the stock is doing fine. cheryl: thank you, we will see you very soon throughout the afternoon. home prices on the rise across the country. the case schiller report showing prices up 13% in the last year. the biggest jump since february of 2006 but not all cities fairing the same. some are a better investment than others and our next guest say you should buy in fair neighborhoods and they are here to tell you why. kerri chris is in new york, greg rand in charlotte, n.c. rodney anderson in dallas, texas and bob massey in sin city, las
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vegas. what is going on? why is vegas the place to buy? >> investors right now are not as aggressive as they were a few months ago when hedge funds were pretty active but what happened as reported prices of gone up so investors have backed off a little bit but those who did buy are now renting out homes which is a big business in our city. the lenders sort of playing a little game because prices are up so they're getting tough on foreclosed properties and short sales. not the same as it was a few months ago but there will be opportunities for investment. cheryl: i won't say as far as prices go year-over-year up 27%, the highest percentage gained. that is happening in las vegas but you got a challenge from rodney anderson who basically says, quote, we would like to welcome all of you to the united states of texas. >> that is right. housing is growing like crazy.
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we have a strong economy, great job growth, no state income tax and a lot of house for your money in the texas kerri and look at these homebuilder stocks the last several weeks, d. r. horton up 35% in three weeks so you would think that everybody is jumping into housing as a big play in the texas market. cheryl: medium home prices balanced where you are, $181,000, that is free. let's move to charlotte, look at charlotte, year over year prices up 8%. you like charlotte, you are pushing the market, why? >> i moved here this summer so i experienced as a representative of investors on a national scale and as a home buyer. rodney understands our best friend in the southeast, the governments in the northeast and west coast. charlotte -- we are the
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second-largest financial center in the country and the no. one financial center in the country, new york, just elected the occupy wall street mayor. this guy ran on a message of a tale of two cities and every ceo on the financial services side in new york, how much it costs them to operate but now they're waiting for the next hammer to fall. we are approaching a tipping point where you will see a major exit as of financial institutions coming down to charlotte because we have the critical mass of bank of america and others and others things that kick in, wally of life, cost of living and haven't paid a toll in six months. cheryl: talking about bill deblasio taking over in new york city, good times for everybody to pay taxes in this city but as far as new york goes, the prices have been fairly flat over the last year for new york, new york doesn't make a cake. >> i love the new york market. i live here and it is an interesting market because it is a more stable market
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financially. when you think about the high percentage of properties here that are co-ops you have to have more down payment. cheryl: $400,000. you hear that? >> here is what is happening. sales increased third quarter this year over third quarter last year by 30%. the median price dropped slightly. that is good news. what that says to us is the first time home buyers are buying, those millennials we love so much are buying smaller apartments. cheryl: is that true of somebody who left new york? >> it is true about the fact that home prices stable rather than volatile. talk about your rear prices being paid%. we look at it over the last 17 years north carolina or charlotte specifically has been up shy of 4% every year the last 17 years. connell: let me do a comparison.
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for $500,000 in las vegas you have a 7,000 square foot home right now. let's get real. i understand that but the bottom line is the fact that in vegas, greg was saying about texas, investors right now still love the vegas market. the thing that is happening here is new homes are selling. the developers have put in their own financing where they are getting 20% down. they have good buyers coming in, selling off the loans after but we have a good situation. the problem we have in vegas is we still have this shadow inventory. inventory in default, still in low issues, short sales so the market is not as stable as we want it to be. that will change when lenders let properties go. it is good for home buyers but still investors are backing off as i said earlier.
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cheryl: go ahead. >> what i was going to say is we don't have those issues. we have 4.6 million, 4.6% of people under water on homes unlike vegas and a lot of areas. our foreclosure rates are so low down here so we are not dealing with those problems. we are dealing with inventory issues. i talked to the best realtors in the dallas-fort worth area yesterday and they said their phones are ringing off the hook. i but for 8% to 10% appreciation growth in the texas area especially the dallas-fort worth area this next year. that is a lot of money in real-estate. cheryl: a good point to be made about foreclosures, 618 in charlotte. vegas vs. charlotte, on the same level. pretty high. >> these are short-term things. we invest in vegas. every city we like our cities in america but the problem, housing
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market reject volatility. the west coast including vegas has been a roller coaster the last ten years. one thing, when i hear rodney pre dictate present time would not want to see 8% appreciation one year in texas. that is uncharacteristic and if you get 8% we won't see 8% continuously in the carolinas. we should go back to the 5% annual and democrats and republicans, wartime, peacetime, low rates, high rates. cheryl: what is crazy is to take this over to rodney, there could be a bubble building in texas. >> absolutely not. the reason being home builders did not build from 2008 until 2010. every person qualifies for a mortgage. when you walk into a new subdivision your neighbor qualifies. the person to less qualified. the present to the right. also remembers this.
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fannie mae was not auditing many loans. now fannie mae is auditing 100% of all mortgages within a six day period so lenders won't have to deal with rejects, buybacks and you will see lower foreclosure rates over it the next couple years in decades. cheryl: next time you come back talk about which city is more fun. we will do that next week. happy new year. see you guys soon. some key tax breaks set to expire tomorrow. a whole new profit added to the books. doug schoen and scott hodge are here with what you need to know and if they agree on where taxes will go next year. also coming but, $100 a barrel oil, is that nothing of the fast? phil flynn with his 2014 outlook. as we go to break shanghai, china celebrating the new gear. . welcome back. how is everything?
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>> time for your fox business
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brief. consumer confidence jumped to 78.one rebounding from the 72 meeting in november. the conference board found consumers more optimistic about job prospects and economic conditions. netflix is raising ceo read hastings at salary by 50% to $6 million in 2014. over $3 million in cash, 3 million stock option, the online streaming service testing a new pricing plan. netflix has 45 million subscribers and shares jumped 300% this year. finally kill the package will cut 5,000 more jobs bringing the total job the limited is year to 34,000--in prison and the workforce. if it attributed the additional cuts to continued market and business pressures. hp shares are up 96% this year. that is the latest from fox business giving you the power to prosper. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools iroduce themselves.
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all the bits and bulbs keep themselves stocked. so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. cheryl: tax policy, 2013 going out like a limb.
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last year we ran yelling the fiscal cliff, at the stroke of midnight. this year a bit quieter but there are some expiration's that could hit you square in the wallet. joining me, fox news contributor and democrats strategist doug shoen. welcome. what are you most concerned about, one thing that will hit our viewers tomorrow that you say watch out? >> for anyone who travels or commutes by mass-transit, they will lose considerable tax subsidy for those commuters in the monthly value to be reduced from $245 to $130 and that could cost the typical commuter $1,400 a year in lost tax subsidies. meanwhile if you drive the value will stay at $250 so there's a huge inequity between those who take mass transit and those who drive to work. cheryl: all about driving with you drive to work or not. i take the subway.
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talk about the obamacare taxes. >> a lot of people will be surprise on april 15th because there is a 3-.8% tax on high income. people on investment income so bottom line we have a few hours left, not much time to talk to your tax adviser about what to do with your portfolio to maximize gains and losses for individual situations. cheryl: talking about portfolio losses but also middle-class americans will be hit if they do not enroll in obamacare. >> there are penalties if you don't sign up, costs if you do end you have to know what you are signing up for because there are doubts about the extent of coverage. cheryl: $95 is the fee if you don't sign up for obamacare. that is 2% of your income over a certain threshold. this is going to affect millions of americans.
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>> it certainly will and the irs is trying to figure out how to implement the new tax and that fee but there is a stealthy or stealth attacks, the $8 billion tax on health insurance companies that will be pro rated on to the various health insurance companies based on their market share and that will get passed on directly to health-insurance purchasers, those of us who are consumers and that will be a stiff penalty on all of us who own health insurance. >> we have to do something to equalize insurance that is provided by employers and those individuals provide for themselves, one is deductible and the other isn't. doesn't make a lot of sense. cheryl: there are interesting deductions we will be losing, the deduction for qualified tuition and related expenses, that expires, being able to donate money, forget charity,
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you can't not donate money ira tax-free account, that will expire. retirees using that. there are lots of shares. >> exactly right. a lot of these little things, people just take advantage of and don't know they are cam prairie. all of a sudden they wake up tomorrow and not be able to take advantage of it. another hidden tax break that is expiring is for those people whose houses are under water and right now for the loan forgiveness banks give them, that was considered non taxable. tomorrow that will be taxable income for the total amount the bank forgives of your loan and that could hit people pretty steep the next time they go to pay taxes. cheryl: because the fed has been going after jpmorgan and wells fargo and everything else. legal fees alone -- these homeowners -- >> they will separate and scott
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raises a general point. we need real tax reform in this country, lower rates, minimize deductions, keep charitable in housing but bottom line we got to rationalize a system that is out of control. cheryl: there are some tax breaks expiring. there's a three year write-off for sayre rate -- >> i am not in that line of work. cheryl: you all right with that? >> that will be allowed to expire. there is no education and capitol hill to keep that one or some of the energy tax credits for electric motor cycles and putting -- replacing -- cheryl: what we are seeing under motor race tracks. we don't care about that but tv productions as well. you are hollywood stars fading away. >> my career was going to be
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made. thank you very much. had been new year. let's take a look at the oil contract. oil is adding to yesterday's losses under $100 a barrel mark but we are still on track, and 8% gain for oil for the year. phil flynn, $100 a barrel, never going to happen, joining me from the pits of the cme. what is going on? >> i never want to say never but $100 a barrel to be forgotten and never brought to mind? in the new year, ought to be a rare thing to see. the u.s. is going to produce 1 million barrels more oil this year than they did last year, the year after that another million barrels. that is enough to wipe out three quarters of the opec's countries. cheri increase in production will take off line and at the same time we're being more efficient when it comes to energy demand. $100 a barrel very rare next year might be a thing of the past. let's look at the rest of the market, today, gasoline today,
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word from aaa today, aaa says guess what? gasoline prices is here are the lowest they have been since 2010 but they end on a sour note, the highest price for gasoline on a new year ever because the win/loss at the end of the year the trend is lower. cheryl: another reason not to drive on new year's eve. what are you doing tonight? >> i might stay up until 8:30. maybe 9:00. i am a real excited guy. drop a ball at the top of my house and dropped it down. right at midnight. cheryl: phil flynn, thank you. good times. oil losses we are talking about with phil flynn, we will keep on the markets as far as natural gas goes, looking at all the different things, commodities that are moving but a lot of temperatures coming in that will
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be pretty chill. i am talking cold, bundle up if you are in the northeast, you will need your sweater and your jacket or you could stay home. there's another option. 2013 coming 2 an end. we want to reflect on the year. the most annoying words of 2013 he. lake superior state university compiling a list of words that should be banished from the english language. here are the top three. coming and 1 selfy, this describes the popular trend of taking a photo of yourself. number 2, torquing, miley cyrus doing that, apparently we exhausted the word. number 3 hash tag, a word or phrase with a pound side next to a news in social media, especially big on twitter, bearish on the word hash tag. we use it a lot. coming up my debate of the year. my turn to be in showdown. arguably fits is the most
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important topic ever. are you a red line printer or a white wine drinker? which one is better? adam shapiro coming up with me on set and we will bring gregory majors who will tell us which one of us is correct. i am sure i am going to win. i am so confident about it he is already yelling.
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cheryl: wine drinkers wrestle with this question, we have strong feelings on this topic. with one of the others for whatever reason we have some stay away from the red because it gives the headaches, white doesn't have enough body. adam shapiro is next to me. this is our show down.
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greg majors, thank you very much. in a tasting room you would start with something sparkling. this -- and nice french champagne. that is my first one. my next one is the i e i o and it is a chardonnay. >> gives you an idea how busy she is when she is upset. i want couch in your office. here is the deal. a small vineyard in california, a $40 bottle of red wine. it is amazing, but a little less expensive. cameron hughes gets on the show and they do their own called in-your-face and it sells out i drink my wine. >> what do you think of our
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picks today. i try to be impartial. one is very subjective, what you like is different and there is nothing wrong with liking one thing, you should be proud. you've got ginger ale in mount bottle. my job is to be impartial and to find what you like and -- cheryl: it has lower calories, trying to watch your calories and did is better, doesn't give you as much of a headache. >> that is the common misperception. the quality of what you are drinking and would you drink. >> red wine, the body in red wine. i like heavier wine. does anyone have one or the
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other? >> wine has more alcohol in them. cheryl: thank you very much. and more definitive. i will make my case, i am going to leave and adam and lori will take over in the next hour. we will be talking about this. nice and warm. adam is not going to move. you will be coanchoring in the next hour. the dow and the s&p on track. and there is a new poll showing americans feel better about the economy. does that mean the good times will go into next year? stephen more will be coming in. the best way to ring in the new year, red wine. campaign. you are fired, that is it. joining lori rothman and adam
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shapiro. use secretly like white wine. adam: i don't like white wine or green eggs and ham. cheryl: stick around. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading atform with think or swim from td ameritrade.
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>> i am lori rothman. adam: and i am adam shapiro. the findings of a new fox poll just ahead, but that doesn't mean everything's coming up roses. the "wall street journal" stephen moore straight ahead. lori: why some social networks may be better bets for your portfolio. adam: recreational use legal and flights already sold out. the big money in pot still ahead. lori: and why champagne producers are not celebrating the new year. let's get to it. three hours to go on the last trading day

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