tv Risk and Reward With Deidre Bolton FOX Business January 4, 2016 5:00pm-6:01pm EST
away over the holiday weekend, he appeared regularly on fox business, he was one of the best we had. wayne was 82 years old. what a class act. melissa: what a loss, so sad. we wish his family the best.. david: "risk & reward" starts now. deirdre: the worst start for stocks in 8 years, the dow fell more than 270, worse opening day since 2008, year of a huge crisis on wall street, this is "risk & reward" i am deirdre bolton, selling started in china. so extreme a circuit breaker had to kick in to halt trade, ashley is joining me from the floor of new york stock exchange, what did traders tell you about china. reporter: a lot of it is about china. one trader said, here we go
again, if you remember last summer we had a lot of turmoil in chinese market that rippled in the world, it started to fee similar today, what a way to kickoff the new year, there are concerns about china. you also have to be wear pe actual chinese markets, they are unstable. perhaps not up to volume or volatility they are seeing, they have the circuit breakers that panics investors who are trying to sell they are frightened that their money will be seized by the government. it did translate to u.s. and europe, dow off 276, the question is, what happens in asia overnight, what could that mean for our markets tomorrow. deirdre: ashley in the u.s. there had to be bright spots where were they? >> we had to dig deep, 3 winners on the dow.
not by huge margin, walmart that finished higher today, up a quarter of a percent. cas pillar -- caterpillar, a marginal 0.4%. caterpillar was down 3.95% at the beginning of day because of the chinese news, and weakness of the economy. also apple, squeaked out a small gain, not many winners but they did manage it in a difficult environment. deirdre: you mentioned caterpillar, we got weaker than forecast manufacturing, what were traders saying about that? >> certainly a worrying case, we know that china is slowing down, we know that europe continues to have its issues, we were hoping they would pick up in the u.s., the slow recovery, there are now questions asked as manufacturing activity contracts more than particular last month. what does that mean going
forward. forward. >> be on analyst say high believes that u.s. consumer will be able to offset the weakness in manufacturing by spending more but we've not seen that yet. a lot of concerns about where we're headed, that brings up the dreaded question of the fed. does it. >-- go ahead with 3 rate increases this year, we're on fed watch but given all we've seen, on first trading day of year, it remains to be seen if the fed the pull the trigger. deirdre: a great point about the fed, we have a jobs report coming up friday could many are keyed in, ashley webster joining us from the floor of the new york stock exchange. >> mine mine. deirdre: concerns about global growth, sparing few stocks, some of last year's biggest gainers among hardest hit. netflix closed down 4%. google parent company alphabet
down more than 2%, housing stocks, homebuilder dr horton, down more than 5%. biggest part of the market, financial stocks they led losses j.p. morgan down by 3%. and my super star panel with me now. lee, to you, how overdone is today's selling? >> i think it is a great day, we did buying for clients that brought new cash in. but this is not overdone enough. i'm not ready for a global rebalances to sell bonds and buy stocks, we still have down side. we can see over next couple of month we have peak profits in america, peak consumer spending, look at the auto numbers. then you have a dollar that just won't stop going up, i think by the time the dollar stops rising maybe the end of this quarter or 3 to 6 months, but before the end of the year is when you see damage being
don, you can buy, rip it and grip it. deirdre: michael lee, you are the market bull. what looks best to you? what should investors consider as buying on discount today. >> you saw not only lee but others buying at 330 coming in, i don't know if we'll see that tomorrow, on these dips i would be a buyer, i am positive on the u.s. economy and u.s. market, in particular the s&p 500. there are problems in the rest of the world, the u.s. consumer is on fire, u.s. job market, looking at 4 week rolling average it is lowest level in 4 years. if you look at jolts number we have a super healthy consumer, only reason that fed raised rates is because they had to, i think they are a little bit behind the 8 ball, i think
we'll get more rate raises, i still love the banks, the big banks you can come in buy them on sell-offs, we're in a situation like in '94-95 we're churning through the rate raises, financials have led big ups, and big up rallies of the market, i don't think it will be different this time. deirdre: michael lee you like the banks, i know that well, with this idea that fed is raising rates. but lee, what do you make first of all about michael's comments about labor market, many say labor market pa participation rate is lowest since mid 70s, so many giving up finds jobs what does that mean pared with other indicate indicators. >> am is a lagging indicator, when you add that to formula of the fed raising so late in the game, my god, it seems we're in the recession.
so i think that with that lagging indicator, employment is as good as is going to get, just a concept that we're depending on the consumer and large cap u.s. stocks, the one place we have richest valuations, i don't see how that makes for a great philosophy in 2016. deirdre: thank you, both, the bull and the bear. >> catalyst for the market sell-off u.s. started in china with data point, chinese factory activity fell in december, the rest of europe and asia sold off an that, that casting drought on china' growth prospect, gordon chang is with me now, that particular data point, i cited came from research. not from chinese government. but it shows us just how
different perception is between let's say people outside of beijing, and what they think about their own economy. >> sure, you have industrial output number for enough up 6.2%. you cannot reconcile this with a market research firms number that you referred to, it has been negative for 10 consecutive months, even the official purchasing managers index for manufacturing has been negative for 5 straight months. deirdre: that is the federal one. >> yes. deirdre: we have to assume it is a a few points worse? >> right. when you have is the industrial numbers coming out of beijing, they are wrong, the economy, probably is growing 0. maybe 1%. it is not growing at 6.9 that beijing is telling us there is a big gap. deirdre: you were fantastic, you kept us company through the year last year, we saw the numerous data points, and we saw beijing try, that is to say government there, monetary
stimulus, fiscal stimulus, putting selling pa caps in the stock market but it has not workd. >> it has not, we had 6 reductions of benchmark interest since november 20 14, monetary stimulus is not working. deirdre: the chinese government made it illegal at certain points to sell stocks, they are still falling. >> and the fiscal stimulus of the amazing in november and december, up way t 29.5% in november. and 36 in december, the chinese economy has not recovered. this is beyond the control of beijing, ited shoulded downward. the -- it is headed downward. the stock market in china will fall further that means our market will fall as well. deirdre: that must be a frightening situation for all of the moment in monetary policy in beijing, glad you are here, gordon chang.
>> from china back to the u.s., we're 9 months away from election day here. bill clinton is hitting the campaign trail, in support of his wife, hillary clinton. g.o.p. front ru front-runner donald trump took should shots. >> she is married to a person that is a serious abuser. and i mean at the highest level. deirdre: former president bill clinton may respond, he is scheduled to speak, that is for shire, in a few minutes we'll keep you up-to-date. >> president obama meeting with u.s. attorney general on gun control, and his powers of executive act on the second amendment, our legal eagle, will give us her perspective in a bit. >> a few months ago i directed my team at the white house to look into any new actions i could take to help reduce gun violence, on monday i will meet with our attorney general to dis discuss our options.
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sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. >> if you bring up the women card, i'll bring up the we women card too, because i'll be talking about your husband, and women, that is fair. deirdre: former president bill clinton is scheduled to speak today, he may respond to donald trump's attack, we'll bring you relevant comes. >> staying with politic, president obama met with u.s. attorney general loretta lynch the subject a review of potential executive actions on gun laws, g.o.p. presidential candidates call this a dangerous overreach. >> this president is a petulant child, when he can't
get what he wants because the american people have rejected his agenda by turning house and senate over to the republicans. >> obama has been lawless in his use of executive orders, whether they are around immigration or around gun control. it is delusional, dangerous, not to mention unconstitutional. deirdre: moments ago president obama announced he does have the legal authority to limit some gun purchases. >> congress needs to act. what i ask my team to do, see what more we could do to descreng e strength en our en% am and pre-- enforcement and prevent guns from falling into the wrong hands, these are recommendations that are well within my legal authority, and the executive branch, but, they are also ones that the overwhelming majority of american people,
including gun owners, support and believe in. deirdre: gun owners of america, executive director larry pratt is with me now, so glad you are here, are you concerned about your rights? well, . >> well i think what the president is doing is amazingly over brode, the guy does not pay any attention to the constitution to the law, which is not a news flash, he has done this in a lot of other areas, but specifically in area of who is a dealer, that not a gray area issue where president might have an excuse that congress did not act, congress years ago, very specifically said, who a dealer is, who is not a dealer. and a deal ser somebody who makes their living from selling firearms, not an oh doingal sale -- occasional sale, not even a $1,000 profit
at a gun show but a living. deirdre: i am so glad you brought up the gun shows. it seems that heavier background checks, are the measure that president obama is going to try to put in place. people saying if you go to a gun show you do not face the same strict gun laws, that others face. >> people could say, that they are not familiar with the law. i am trying to be as gentle as possible. the fact of the matter is that most gun show are mostly comprised of sellers who are federally licensed firages dealers -- firearms dealer, all of whom have to transact their sales through the federal background check.
no exception, so the idea that somehow the gun show is a loophole screening for closing is very disengin disingenuous or ignorant. deirdre: larry pratt, glad to have you here. >> donald trump said he will repeal president obama's executive order if he is president. >> i would be rescinding a lot of executive orders he has done, the one thing good the new president that comes in boom, first day, first how, you can rescind that. deirdre: attorney lis wiehl with me now issue saying that president obama will probably face the courts first. >> we've seen this with the immigration. it still is in the court. and even after president obama is not president. who is in the business, of selling guns, what this executive order would do is
close the loophole, that -- if you are a private owner you can sell a gun or a gun at a gun shop, sell a gun, but you have to have owned it for more than a year, it would close, that say, you have to get background registration whether you owned it for 6 months or two years. deirdre: it creates more friction. >> this something that courts say, is this meant for the executives or congress? is this a law that executives are trying to pass, that could be struck down. deirdre: that would be struck down we'll continue our chat, leas lis wiehl, thank you very much. threat of president's executive act on gun control has gun stocks rallying despite the biggest market sell-off since september, smith & wesson jumping.
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prominent shiite cleric. phil, a lot of movement in the two oil-rich nations, to what extent is that pushing prices lower? well, i mean it was a really easy trade if you ask me, you watch fox business over weekend, you see what happens with saudi arabia and iran, you think to yourself, it may curb the possibility that iran is able to go through with nuclear deal, and export through opec, prices travel higher, then your fox business app wakes you up at 3:00 in morning till us that china is down 7% that tells me there is a bigger picture going on. >> that means strive in the middle east, and a consumer nation, is slowing down? >> right. because of that, you see china with that meltdown, down 7%, you wake up, s&p 500 down 40,
and dow down 400, of course, oil prices will take into effect there is a slowing global growth. because of these types of implications you see oil prices they should travel lower, i think we'll push toes there are thrive $35 level, unless something serious happens, unless missiles are fired we'll probably see oil prices weigh in on large inventory. deirdre: thank you, phil, joining me from the cme with elent analysis on price of oil. >> speaking of saudi arabia's execution of that sh shiite cleric affecting all of the movers in the middle east. severing or cutting back diplomatic ties with iran. former cia officer, joshua
katz with me new, sunnies versus shiites arguing at a fever pitch, the same time with a civil war in syria, i don't want to ask you, how is this going to end? >> not well. this is the public, on set of a covert war between iran and saudi arabia, which ma has been boiling for a long time, they use proxies in the region, iran is outside of its containment. this is only going to become more of a problem for our allies in the region. deirdre: speaking of allies in the region, we need our allies in the region. now more than ever, to fight isis. how is this going to either distract or deter or make u.s. change its strategy. >> it is really going to take away from the coalition building, we're seeing right now, we're seeing a couple of
exchanges of cyberattacks between the two nations, they are also done through proxies, so, if it stays on that level, in cyber world, we'll be fine. if it spreads out, as it is really playing out in syria and iraq, and in yemen, we'll have a lot of trouble. especially if they get more overtly involved in the actual shooting there. deirdre: josh, you have been on the ground in these countries you you have done a lot of work from here, on a scale from 1 to 10, at when kind of inflection point be here. >> we're at a tipping point. going into 2016, we really at the tipping point, this is going to absolutely blow up in our face. if we don't enact the right policies, and don't understand two sides issue we don't understand the two sides, we have inflamed region, and we really, even taken a step back
from our allies, they have said this to me, they really lost a lot of confidence, we need to build that up, if we don't we're in a lot of trouble. deirdre: josh, one thing that we can do to mitigate these circumstances? if you had a direct line to the president, what would you say. >> i would say, that the president doing right now with iran is absolutely the wrong policy. iran has tested ballistic missiles, they are outside of the nuclear deal, he has to take a very firm line with iran, if he continues down this path of appeasement we're going to see the flames of war it will really just exacerbate the situation. deirdre: josh, thank you for your insight, joshua katz former cia official. >> thank you. deirdre: concerns about global economy outlook may change the
fed's next rate decision. john williams will be speaking soon, we'll bring you his coming live before he said 3 to 5 hikes is what should happen this year but he may revise that statement after today's report. >> and we're just 30 days away from iowa caucus, we'll tell you where candidates stand, and who may come out on top, after a short break. >> everyone says i'm a little behind, i don't think i'm behind in iowa, i think i have a really good chance of winning iowa, i love the people ofa wa iowa, we're going to find out.
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the iowa caucus in just 30 days, sitting the stage, fox business hosting -- iowa caucus on february 1. and new hampshire february 9, south carolina prim success february 20. you have donald trump second place to ted cruz. trump 31%. cruz for iowa on top with 40%. power political panel with me now. glad to have you here. lisa, how important is iowa, how important is it to donald trump that ted cruz is tracking ahead of him. >> it very important, when the crowded primary field we're seeing, wore talking about a lot of viable candidates, so what iowa serves as and new hampshire and south carolina serves as and nevada, a way to
window out the field -- that is why iowa and the upcoming primaries will be so important. you have people like huckabee said, if he does not place third in iowa he will drop out, new hampshire is a must win for jeb bush. we'll see a lot of changes in the republican field, as they try to reach that 1236 delegates out of 2400 up for grabs. deirdre: matthew, from the democratic point of view, i always understood that marco rubio is the one that dems feared most is that still true or changing? >> so i think i have a little bit more of an objective sense, at-this-point, rubio does not look like a strong candidate, i don't think that democrats are afraid of any of these candidates, if you would have asked me that question 4 months ago, i may have said that marco rubio will be a tough challenger to hillary clinton, but at-this-point i don't see it any more it looks
like ted cruz and donald trump as two leading republicans candidates, i will say speaking of as a democrat ha ithat is not something that the democratic party fears at all. deirdre: i want too pick up on, that part of strategy is spending, donald trump saying he spent the least and gained the most. >> look, i was going to have 35 or 40 million spent by now, i have not spent anything, i almost feel guilty, i am doing the ads, i am leading by a lot. i don't think i need the ads but i'm doing them, i almost feel guilty, and i am 40 million under budget. i spent almost nothing. deirdre: that is on the spending, as we've been reporting and as trump campaign confirm spending $2
million a week, a quick clip from his ad he debuted today.
>> something else, but donald trump calls it radical islamic terrorism that is why he calls for a temporary shut down of muslims entering the united states until we figure out what is going on, he will quickly cut the head office is and takoff -- isis and take their oil. deirdre: do you think that is effective? >> i think what we is saying, it was ted cruz closing in or leading in polls in iowa. with new hampshire with candidates like rubio, and chris christie moving up in polls. i'm sure there is concern about ensuring that people are not just supporting him but getting out to vote, a lot of voters who support donald trump are not your typical republican voters, the big question, can he drive them to the polls.
so that is the big question. i do think that message is he discussed most specifically with isis is important. you look at the issue of terrorism, that is a top in the minds was not only republican voters but americans, a lot of people 60% of americans disapprove of president obama's handling of the terrorism, there is a lot of concern there, that is a very important issue to focus in on. deirdre: we will focus in on that with you, lisa and matthew thank you. >> thank you. deirdre: fox business debate thursday january 14, just two weeks before the iowa caucus. it may change your vote. >> breaking news, white house announcing that president obama will deliver remarks about reducing gun violent tomorrow tomorrow,11: 40 a.m. eastern time, widely expected, he met with u.s. attorney general, she said, he does have the legal authority
to increase background checks, that is what sources close to the situation are saying, we'll hear more on. >> father and son oregon ranchers convicted of arson are expected to respect to a california prison today, amid a armed stand off by a group protesting their arrest. >> my next guest said that government misused an old local law, intended to punish the domestic terrorist, we're back in a minute. >> i'm going to jail for 5 years for 127? it seems a bit of an over kill, this many people -- showing up.
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not have a constitutional right to force violence on others. our prayers are with those in law enforcement. deirdre: senator ted cruz urging armed protesters in oregon to stand down, right now they are protesting for as long as it takes in a federal building refusing to league, my closing from fox news with me now, dan springers is burns, oregon with the details. reporter: latest is that you know one of the goals of this armed occupation at a remote federal compound, here in eastern oregon was to keep two local ranchers out of federal prison, the two ranchers turned themselves in to a losec second prison in -- low security prison in san pedro, california. the protesters wanted them to not go to prison, they went anyway, a big question, is
this a legitimate protest on their behalf or some form of anarchy, the local sheriff is upset, saying that the militia are trying to over throw the local government, they have taken over headquarters of the malheur. -- we make a stand, so they will not happen to other people, across this country. they will not committee our homes -- tom into our homes and take away or rights, and not come into our children's homes and take away their rights. reporter: occupation followed a rally on saturday afternoon, that was in support of the ranchers. who were sense tepped to 5 years in -- sentenced to 5
years in prison for setting two fires that spread to federal land, the hammonds turned themselves in today, many locals support the ha hammonds but not the armed occupation of federal building. >> they are hurting their cause, i am sympathetic to their cause. but the way they are going about it is disastrous. reporter: fbi is going to be in charge of federal response, they have not had any present here at all. local law enforcement has not been down here. the fbi did issue a statement, saying they are going to be doing something in the near future, they 8 be in contact with these people, they hope to avoid any type of incident. deirdre: done springer thank you so much, joining us from oregon. >> this standoff there opening up a discussion about a 1996
law to punish domestic terrorists. a statute that carries a mandatory minimum sentence. and as we just heard, putting cattlemen back in prison. to what extent do see government overreach? >> think there is federal overreach, they are going about it in the wrong way, they lose the argument in the manner in which they are approaching it. there was a lawsuit where the state of texas is engaged in federal government came in took over 90,000 acres of private landa, long the red river, in texas, the state of texas, is being seed off we've seen the federal comes in en kroiching anencroaching private land, and seizing the
private land. i agree with ted cruz, his stance they have a constitutional right to protest, but what they are doing is not legal, they are sending the wrong message and losing the argument. deirdre: thank you lisa. >> a sudden texas blizzard threatening property, and livestock, we'll give you an update, tell you if the prices for dairy and meat will be affected. i've smoked a lot
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reporter: we're here where up to 100 homes have been destroy by flood, up to 5 feet of water was in the house, it was gutted. people here say they knew rain was coming they got a warning to get out, then hours later, their electricity was shut off, one woman who we spoke to said she lost just about everything. >> i don't know. i'm living day-by-day, trying to help my friends out, and helping us out. trying to comfort the ones that really lost everything. their house, everything. reporter: neighbor say it will be at least a month until they can get back in their homes, in the state of missouri, a federal disaster has been declared, governor of illinois, has declared an emergency in 12 different counties there. red cross and fema are helping these folks, a very unfortunate way to start the new year,. deirdre: matt finn reporting from an arnold, missouri.
>> dairy farmers in texas and new mexico lost more than 30,000 cows, they were killed in the monster blizzard, lee, what can consumers expect. will we see a price in dairy prices change? >> no, i think we will see is spike, i live in albuquerque, new mexico, the 9th and fifth largest produce ires o producers of darey and cheese, we'll see probably so soy milk will be same price as cow milk by end of first quarter there will be a national substution for products. i think you will lose a lot of consumers. post spike you can have a permanent loss in aim of people buying that product from them, i think that will have a wide range of effect, we need water for other things, in new mexico we need
it to cool server farms and amazon cloud compound, that will be a big issue, as we regulate that, because you know, 9 gallons of water for a glass of soy milk, and 49 for cow milk, this is a big economy issue here, i think that consumers need to strap in, if you make that stuff you see substution. deirdre: lee, as far as any other storm, it seems like weather is getting volatile, when industries do you fil feel are most vulner glib able. >> i think anything where your product is outside, soy, wheat crops, we should expect more food volatile, and i think that consumer some plan to spend more of their dollars on food than they have in the past, as we look at budgetary concerns, and republicans controlling a large part of the government, there will be a limit to how much my tax dollars will be spent on you
know, paying farmers and big corporate welfare programs, i think that stuff -- crap has to stop evenly. deirdre: bringing it back, we're grateful there, thank you, lee munson thank you. >> thank you. deirdre: market selling off today, worse start of the new year since 2000 ai 2008. >> airbnb had a crisis, with angry landlords from california to the u.k., protests their apart could apartments gets crashed by the airbnb rentteres, we're back with owner's rights. i was going to give it a try, but i didn't think it was going to really happen. after one week of chantix, i knew i could quit. along with support, chantix (varenicline) is proven to help people quit smoking. chantix definitely helped reduce my urge to smoke.
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days after the paris attacks, senators came together for a top-secret briefing on the terrorist threat... marco rubio was missing - fundraising in
california instead. two weeks later, terrorists struck again in san bernardino... and where was marco? fundraising again in new orleans. over the last 3 years, rubio has missed important national security hearings and missed more total votes than any other senator. politics first: that's the rubio way. right to rise usa is responsible for the content of this message.
dierdre: times square in new york city was packed, and so were some apartments. homes from california to the u.k. got trashed by unruly renters. if i rent your place from airbnb and i said the it's for myself and my husband, and i had 250 friends -- >> if i got a big security go possible it from you i would say i'm keeping the security deposit. if i just got a few hundred bucks, i would go to airbnb. dierdre: we are showing pictures from california where everything was broken. lis: that's beyond reasonable
wear and tear. there is a story of a man who used rope swinging, the rope snapped and he died. who is liable. he was silly enough to do that. but airbnb does not cover for anything like that. they just cover for property damage only. dierdre: can you sue airbnb and say i'm counting on people being honest. lis: if you are airbnb you should have checked this woman out. if you didn't check her out you need to protect the homeowner. if you are going to do this, and and lot of people do, have a strong security deposit. you probably don't want to rent out on new year's eve. dierdre: i was it was up for a
few weeks. lis weihl joining me there. thank you for joining us on "risk and reward," make money * with charles pain starts now. charles: bill clinton hits the campaign trail despite trump's saber rallying. plus trump's provocative campaign ads. some are take matters into their own hands. president obama bypassing government and gun control. the stock market off 276 points. most investors feel like they dodged a bullet. making money starts right now.