Exchange on the planet, terry duffy, cme group, executive chair and president in a fox business exclusive. Hes going to articulate what plans they are putting into place right now for wednesday. Also breaking at this hour, the Obama Administration appears yeah, thats what were hearing right now to be doing an about face on the people applying for visas to enter the United States. It comes just hours after the president worked to reassure the brick hes doing everything public hes doing everything he can against isis. He met with his National Security advisers, now the word is they will start checking social media posts for people who want to enter this country. The president also said the u. S. And allies are making progress against the Islamic State in both iraq and syria, attacking the leaders, training forces, fundraising and propaganda operations. Is it enough to extinguish the terror group . A situation report from former florida congressman Lieutenant Colonel allen west. Senator ted cruz cruising along, moving up in the polls, threatening donald trump but also now worrying, apparently, the Hillary Clinton campaign. Could tomorrow nights gop debate be a defining moment for the texas senator . Carl cameron is going to give us a live report. Apple, folks, is part of what you see the weakness that the dow is showing as at least two analysts say were cutting apples price target right before christmas . Really . Were less than an hour before the closing bell, so lets start the countdown. Liz the big short, the movie is not out yet, but the markets are showing their shorts. Among them, it is a rotten day for apple. Right now with the russell and the dow down though, the markets are actually looking pretty good, showing some positive moves, but apple is down a percent. It is one of the biggest drags on the s p 500. Whats going on . Well, Morgan Stanley cutting its price target on the stock after projecting smartphone sales will fall 6 . Barclays is cutting its price target on apple too just 11 days before christmas. So mean. U. S. Dollar, heres another part of the big short, its actually lower against the euro and lower against, of all things, the the Canadian Dollar which has been unbelievably weak. Weve got oil settling at 36. 31. It touched a low of 34. 53 earlier this morning, but then black gold managed to climb out of the swamp and snap the longest losing streak in nine months. A couple things at work here, you have the iranians saying, too bad, we are upping our exports to six month highs. The volatility index rising for a second day. Remember, it was a big day for this one on friday where it jumped doubledigit percentages. This fear gauge is jumping about 5. 25 , touching the highest in two and a half months down, rather, the c. O. B. Is down 5. 25 . Youll recall the surge on friday in the vix was the largest gain since august. President obama updating the nation on the fight against terror today at the pentagon after getting an update from his National Security team on how the battle with isis is progressing. Look, hes been criticized for not being verbal enough about it, so he came out today and said the u. S. Has been increasing its pace of airstrikes. The u. S. Led coalition, he says, has launched 9,000 of them. 9,000 of whats on your screen right now. So as of today thats where the number stands. President obama also saying the u. S. Is disrupting isis financing, but theres still more to do. We have to be smart, targeting isil surgically with precision. At the same time, our partners on the ground are rooting isil out town by town, neighborhood by neighborhood, block by block. That is what this campaign is doing. Liz Jennifer Griffin live at the pentagon. You were at the presser with the president and the latest on his administrations analysis of that threat to the u. S. And from isis. What do you think was really newsworthy here . Reporter well, what was interesting, im told, liz, the reason the president came to the pentagon to meet with 35 members of his National Security team is that he is starting to get the feeling, im told, he is not getting the whole story about isis from white house staff. He wanted to hear from his military chiefs directly. Hes about to go on vacation, and he needed to reassure the American Public that his military is not slowing down over the holidays. We are hitting isil harder than ever. Coalition aircraft, our fighters, bombers and drones have been increasing the pace of airstrikes, nearly 9,000 as of today. Last month in november we dropped more bombs on isil targets than any other month since this campaign started. Reporter notable that the emphasis of the strategy as articulated moments ago by the president is still relying on airstrikes. The president did say that the special forces he ordered to syria in late october are now on the ground in syria trying to find a partner. He said isis has lost 40 of their Populated Areas in iraq. Thats a new figure we hadnt heard before. The president also gave a litany of isis leaders that the military has successfully killed in the past year. Since this spring weve removed one of their top leaders, isils second in command, junaid hussein, their top online recruiter, and in recent weeks finance chief abu saleh, a senior extortionist and. Reporter the president s message to other isis leaders was, quote, youre next. Liz . Liz youre next. We shall see. Jennifer, thank you for that update. And weve got more breaking news at this hour. Reports are surfacing that the department of Homeland Security is pretty much right now working on a plan to scrutinize social media posts as now part of its visa application process for certain people seeking to gain entry into this country. So before then there was word that, you know what . That the immigration officers were not looking into this kind of thing, and now we know, of course, that one of the top, top suspects in the San Bernardino had absolutely posted about isis and how much she loved it and was supportive of it. No word yet on how soon this new plan could be implemented, but it comes in the wake, of course, what we discovered with the san bern deep know, california San Bernardino, california, shooting this month. Lets bring in allen west. I personally think it would very much help officials because thats where isis is going, Lieutenant Colonel, right . To facebook, to twitter. Yeah, youre absolutely right. And its a pleasure to be with you, liz, and merry christmas. Liz thank you. You know, when i think about the debate thats been going back and forth about the violation of the Constitutional Rights of american citizens when it comes to the metadata collection, here we had someone that was a Foreign National trying to enter into the United States of america, and we had an exclusion against that persons social media being looked at. You know, when you think about what the Hacker Group Anonymous is doing against isis right now, you see them far more successful and far more vigilant than our own administration is against militant islamic terrorists and jihadists. So i am very concerned about this exclusionary rule that the department of Homeland Security had. And furthermore, we know about a dhs whistleblower who said he was tracking syed farooks mosque and also the sect that he belonged to, but yet he was told to drop his investigation for racial profiling. Liz well, clearly now we have to rethink what we are doing. So it looks like the administration is saying, okay, now we should be checking peoples social media posts. The president just a couple of hours ago was at the pentagon, correct in you heard that. He said were taking back territory, weve destroyed strongholds, but nows the next now whats the next issue that should be attacked, Lieutenant Colonel . Its very simple. You continue to hear the president talk about what hes not going to do and how hes making excuses about it liz well, hold on, let me be fair. Today he came out and said what they are doing with this u. S. Led coalition. Okay. Well, let me explain it to you. When you talk about 9,000 airstrikes, remember this started back in august of 2014. When i was a young captain in desert shield, desert storm, we were running 23,000 airstrikes a day. If you have a serious, dedicated air campaign, why is it that last month, november, was the most intense month against isis . That should have been in the early stages, just the same as you saw in 2001 when we sent the in a special forces team with the northern alliance, and they defeated about a 60,000man taliban force in about 90 days. So why are we still monkeying around from august 2014 with isis . Liz do you think that were too, you know, american hearts are too good . I really hate to say this, but it makes you wonder if we have too stringent rules of engagement of course. Liz where a lot of these sorties exit out, they dont fit the parameters, so the planes return without having dropped their payloads. Of course. We know based upon some of the reports 7075 of the ordinance is not dropped due to the restrictive rules of engagement. We know the Obama Administration was not bombing the convoys of oil tankers liz yep. Big mistake. They were concerned about drivers they felt were the middlemen, and that was a big mistake. Huge mistake. Yes, maam. Liz colonel allen west, its great to have you on the program. Happy holidays to you. Its the first time on our program. Hes a very familiar face at fox. All three major indices now negative at moment. I told you at the start we have indecisiveness reigning right now in advance of the fed. Look at the nasdaq, down about five points. When we started, it had been up, and we do have that dow just on the flatline at the moment, up twothirds of one single point. Star wars fans, no indecisiveness there, they are lined up and ready to go. Look at this aerial shot. Some of those people will have waited outside for as many as 12 days for the premiere on thursday night. Bundle up. Disneys counting on you and the force to bring in big bucks. And the fed may also awaken this week. Seven years at zero could all change in just two days, and the major exchanges that take your trades and move them through could see Trading Volumes of epic, historic proportions. Are they ready . Coming up, a fox business exclusive with cme Group Executive chair and president terry duffy on the preps they are taking to keep the Worlds LargestFutures Exchange glitchfree. Hes next. Opinions. Theres no shortage in this world. Who do you trust . Whose analysis is accurate . How do you make sense of it all . A simple, unbiased stock score consolidated from the opinions of independent analysts. Is that too much to ask . Nope. Equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. And its only on fidelity. Com. Open an account and find more of the expertise you need to be a better investor. When i went on to ancestry, i just put in the name yes, we are twins. Of my parents and my grandparents. I was getting all these leaves and i was going back generation after generation. You start to see documents and you see signatures of people that youve never met. I mean, you dont know these people, but you feel like you do. You get connected to them. I wish that i could get into a time machine and go back 100 years, 200 years and just meet these people. Being on ancestry just made me feel like i belonged somewhere. Discover your story. Start searching for free now at ancestry. Com. The only way to get better is to challenge yourself, and thats what were doing at xfinity. We are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Liz breaking news with 45 minutes before closing bell rings, now a total opposite of what we just saw 16 minutes ago. 16 minutes ago we were starting to turn green across the board, now everythings blue and red. Right now black and blue. Down about 11 points for the dow, the russell down 9, s p down about 3 points. We do have good news for fans of sharpie markers and yankee candles. Rubbermaid has announced the acquisition, 21 a share representing a near 24 premium over the Closing Price on friday. So as we look at the stock right now, we can see that rubbermaid is lower. This is normal where you see the acquirer down, but theyre up about 2. 75 . It may very well be super bowl for the trading industry. Were hess than 48 hour less than 48 hours away from the fed hike decision. The futures pits are placing an 83 chance of a rate hike for the first time in nearly a decade. Folks, nine and a half years was the last time we saw an Interest Rate tightening, and back then we went you ready for this, austin . From 5 to 5. 25 . We were at 5 back then in 2006. What will this mean for Trading Volumes . And for importantly, the people interested to make everything move smoothly . Particularly at the Worlds LargestFutures Exchange. There he is, if youve been even sleeping, terry, id be so nervous. [laughter] executive chair and president of the cme. What have you guys been doing to prepare for what we know especially if there is, indeed, a rate tightening will be possibly an em pickly his to have epically historic day. Weve been doing a lot over the years and its not just since the feds meeting this week and theres an 83 probability were going to have a rate hike. Were prepared for when the rates were at normalized rates, when they were at 5 whether theyre going to zero. So were always prepared for up or down in high volumes activity when you have this type of conversation around a rate hike. I think the biggest surprise, liz, is if the fed doesnt do anything on wednesday, because that will have a bigger signal to the equity markets that the economy is nowhere near what they thought it was. I think they have no choice. I think that the markets have come a long way, and they need to make sure they move the rates. Now, the biggest questions going to be, liz, what happens in 2016 . Because does the marketplace take over for the principal reserve and start Federal Reserve or and start to add additional tightening anticipating more fed hikes. So thats where were going to see a lot of activity, in my opinion, going into 2016. Liz okay. Im just looking at november for you guys. You had an unbelievable Trading Volume month. You had about 13. 7 million contracts per day. I just want our viewers to wrap themselves around this, thats 247 million contracts, 87 of them electronic. So, terry, im thinking to myself you guys have extra i. T. People coming in, you ready to make sure this is all going to run on time and smoothly . Liz, we have billions of dollars invested into our i. T. Systems. The biggest component of the cme division of our employees is in our i. T. Division. Again, we have the most sophisticated systems in the world. Theres nothing guaranteed as we saw what happened with the New York Stock Exchange several months ago. Things happen when it comes to technology, but at the same time we invest in our system, we test our systems, and we are prepared this year alone we had one single day, liz, we did 40 million contracts. We do over quadrillion dollars of trade each and every year electronically. Hopefully, were prepared. I believe we are, and our systems are robust. Liz theyre robust. Thats a good word. I remember talking to Warren Buffett about two years ago when we thought we might see an Interest Rate tightening, and he said, liz, all i know is that every trader in the world will have their finger on the button, we just dont which direction theyll be trading in. You guys handle commodities, futures, options, all kinds of things. Is there one particular area where you think if we see a small tightening, well be swamped with trades . I think they all are going to be active, liz, because as you know, every asset class has a borrowing component associated with it. Once you start to see tightening whether youre Trading Energy futures, agricultural products, equities or foreign exchange, they all have some kind of borrowing cost associated with them. You can see up and down movements in multiple different Asset Classes and people trying, and i think theyve already decided which way they want to go on these. All of our Asset Classes should be quite active on wednesday. Liz well, lets see if you can pull out the stanley cup win from the futures trading haha, right. Liz my kings are going to take it again this year, im sorry. You know, liz, with all due respect, coach againville is the third leading coach in history. How about patrick kane . Liz, the los angeles kings, with all due respect, cannot compare to joel againville and the chicago blackhawks. Liz listen, im going back to the team in the late 670s 60s. Terry, good luck on wednesday. Its going to be a rock and roll day, right . Be huge. I think it will be a fairly exciting day either way, liz, and theres a lot of people around the world that are going to be keeping a very close watch on markets not only come wednesday, but i believe all of 2016. Liz terry duffy, cme Group Executive chairman and president. We have a reminder, fox business live coverage of the fed decision begins at 2 p. M. Eastern followed by instant analysis right here at 3 p. M. Eastern, immediately following fed chair Janet YellensNews Conference. I need everybody you guys, even if youre not home, dvr, tivo it, whatever youve got, because im going to be live from the New York Stock Exchange with the traders. Where do you think were going to see the biggest moves . Possibly financials, right . We have the top banking analyst, hes going to be with me, a starstudded group of people who will help you trade right through it. Closing bell, we are about 38 minutes away. Santa claus cant possibly fit all those toys in his sled, so instead of elves hes counting on our buddies at the u. S. Postal service. We are going to take you live to denver where alicia acuna is going to el you how the Postal Service plans to give santa a helping hand. And some of those hoverboard makers on the naughty list. Guess what . Our guy, the maker of the hawk who showed you the problems with the junkie ones back on friday says they deserve it. Not his. Countdown is coming right back. And if you can see, they used glue to try to secure the battery onto the board. Liz oh, boy. I use whats already inside me to reach my goals. So i liked when my doctor told me i may reach my blood sugar and a1c goals by activating whats within me. With onceweekly trulicity. Trulicity is not insulin. It helps activate my body to do what its supposed to do release its own insulin. Trulicity responds when my blood sugar rises. I take it once a week, and it works 24 7. It comes in an easytouse pen and i may even lose a little weight. Trulicity is a onceweekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes. It should be used along with diet and exercise. Trulicity is not recommended as the first medicine to treat diabetes and should not be used by people with severe stomach or intestinal problems, or people with type i diabetes or diabetic ketoacidosis. Trulicity is not insulin and has not been studied with longacting insulin. Do not take trulicity if you or anyone in your family has had medullary Thyroid Cancer or multiple endocrine neoplasia syndrome type 2 or if you are allergic to trulicity or its ingredients. Stop using trulicity and call your doctor right away if you have symptoms of an allergic reaction, such as itching, rash, or difficulty breathing; if you have signs of pancreatitis such as severe stomach pain that will not go away and may move to your back, with or without vomiting; or if you have symptoms of Thyroid Cancer, which may include a lump or swelling in your neck, hoarseness, trouble swallowing, or shortness of breath. Medicines like trulicity may cause stomach problems, which could be severe. Tell your doctor about all your medical conditions and any medicines you take. Taking trulicity with a sulfonylurea or insulin may increase your risk for low blood sugar. Common side effects include nausea, diarrhea, vomiting, decreased appetite, and indigestion. Some side effects can lead to dehydration, which may cause kidney failure. With trulicity, i click to activate whats within me. If you want help improving your a1c and blood sugar numbers with a noninsulin option, ask your doctor about onceweekly trulicity. And click to activate your within. Technology empowers us it pushes us to go further. Special olympics has almost five million athletes in 170 countries. The microsoft cloud allows us to immediately be able to access information, wherever we are. Information for an athletes medical care, or information to track their personal best. With microsoft cloud, we save millions of man hours, and thats time that we can invest in our athletes and changing the world. How else do you think he gets around so fast . Take the reins this holiday and get the mercedesbenz youve always wanted during the winter event. Hurry, offers end january 4th liz breaking news as we look at the markets that are just struggling to figure out which direction. The odds is are certainly showing no struggle for the hunger games as the final installment in the movie franchise came out on top again. Thats the fourth weekend in a row. Raking in another 11. 3 million. But ron howards moby dick adaptation in the heart of the sea ran ashore, coming in second place, bringing in 11 million on its opening weekend. The most highly anticipated movie, i dont know of the year, of the century . The force awakens is set to take the box office by quite a meteoric storm. Some star wars fans started camping out 12 days before the movies release date. Many of them are huddled outside the tcl chinese theater in hollywood. We used to call it graumans chinese, thats where everybodys hand prints are in the cement. Thats where the first film debuted in 1977. Hollywood is preparing for tonights big premiere and will be shown on three screens. Disney expects to make between 200 250 million this weekend in the u. S. Alone. And that could overtake universals jurassic worlds record which was 208. 8 million opening weekend. And, again, thats just the u. S. Can you imagine internationally . Do you plan to see star wars this weekend . Tweet me lizlayman, leave a post on our facebook page, and you can dig through and find that picture of the wookie coming to say hello to me on the set, chu baca, whos chewbacca, whos my bud. Why does everybody hate jar jar binges . He was annoying. A lot of people in our lives are annoying. [laughter] so far i think its now, what, 96 . How many times 107. What 107 . I was asking have we crossed the flatline 96 times today . Were in the throes of shipping madness too. This is it, right now the u. S. Postal service says today will be the busiest mailing day of the entire year. So just how much mail and gifts are getting shipped today, and how is the Postal Service preparing to handle the overload . Fox news alicia acuna is at the Processing Center just outside denver. Its huge, the size of seven football fields. Alicia . Reporter hi, liz. 612 million pieces of mail will be sent just today. And for the entire season, the u. S. Postal service will deliver 15. 5 billion packages, letters, cards and all sorts of other stuff. So they have one important tip and that is, please, as much as you want to, dont put gift wrap on the outside of your package. Its not practical. Instead, use one of the boxes that theyll provide here, and they do that for free. You take care of that, theyll take care of the rest, including the weather. Weather happens, and were ready for that. And, you know, its nothing new to us. Weve delivered around needs and around snowstorms and through the rain and pestilence. Throw in some locusts, and well take care of that too. Reporter the dramatic jump in online sales pushed the usps to upgrade its system. These machines sort up to 6,000 parcels an hour. Everyone wants to know deadline, right . If you hope to send by standard or post, thats the cheapest, tomorrow is the cutoff. First class cards and letters, december 19th is the cutoff to get it there on time. Prior mail packages you can send as late as the 21st, and the u. S. Postal service says it will get there by christmas day. If you want to throw caution to the wind, youre going to spend a little bit more money, but you can send something out on december 23rd, and the u. S. Postal service says, says it will get there by christmas day. Liz . Liz okay. And thats an even bigger reason to be kind to your Postal Service delivery people. I think theyre great. I really do can. I got a delivery this morning. Alicia, thank you very much. The closing bell, 29 minutes away. Look, they say you know youre doing well when everybody hates you. Just one day ahead of the latest republican president ial debate, donald trump opening some hate and sharpening his focus on ted cruz as the latest polls show cruz is cruising. He is gaining ground. While Hillary Clintons camp now says ted cruz may very well end up being her tough opponent. Yes, the republican nominee. So weve got fox news carl cameron on the case. Hes live in the vegas, stay tuned. Liz gop candidates are descending upon las vegas ahead of the fifth republican president ial debate. Now, we have numerous polls coming out in the past 48 hours, roll the dice, front runner donald trump should be pretty happy. He just scored a new high in a Monmouth University poll, raking in 41 of the voters approval. Now, ted cruz is next with the inverted number from 14 , but cruz is now the king of the mountain in iowa, leading two polls in advance of the caucus early next year. Fox news chief Political Correspondent carl cameron on the ground in las vegas and, of course, the twitter war has begun where donald trump is taking all kinds of pot shots at ted cruz. Is he the man to beat at the moment . Well, in iowa, certainly, ted cruz has performed tremendously in the last couple of weeks, and there is a surge underway for the texas senator. In the most recent polls, hes actually leading this them, although theres a couple in which trump is at the margin of error, and nationally with 41 , thats a new benchmark. Tomorrow nights debate here in las vegas is going to be likely a brawl. Trump will be center stage, and on either side will be ben carson and ted cruz. Ted cruz, its not just a twitter battle, in fact. Ted cruz and donald trump have been going at it to the extent that cruz excuse me, trump is now regularly criticizing mr. Cruz and suggested that he lacks type of judgment and temperament necessary, citing some of his responsibility for the Government Shutdown a couple of years ago and his work in the u. S. Senate as what Many Democrats have called an obstructionist. Trump is very aggressive in going after cruz, but cruz has been resistant to any real criticism of fellow republicans. Marco rubio is different, however. Rubio and cruz have been in a battle back and forth over their various different National Security and policy votes for the better pennsylvania r part of better part of the last three months. Immigration policies and how they deliver, National Security programs, all of which rubio has tried to suggest that trump excuse me, cruz is in some cases inclined toward some of the countrys sort of isolationists tendencies. So all of this is likely to play out tomorrow night on the debate stage. Cruz, trump and rubio are all in a big threeway brawl. Liz a brawl, you used that word twice now. So you say its going to be a fight. What a Perfect Place for a fight, vegas, right . Reporter oh, yeah. Well, and Chris Christie gets to get back into the cage. Hes been down in the lower tier for the debates since the last one. He has again qualified to be in the prime time debate, so hell be there tomorrow night. Rand paul was in significant jeopardy. He had not made the cut in the most national polls, and cnn changed the criteria and said they would allow any candidate who had gotten more than 3. 5 in the early states, and rand paul has achieved that, so thatll be the full slate. Liz okay. Its going to be exciting, as each one is. Thank you very much, carl cameron. Hillary clinton weighs in on this too when it comes to ted cruz. She is set to speak in just minutes in brooklyn at the National Immigration conference. This is her campaign this as her campaign has crowned her biggest competitor, senator ted cruz. John podesta reportedly told a group of democratic donors last week at an event in berkeley, california, that cruz is hillarys likely opponent next november. So lets bring in the pundits. Dennis kucinich, former ohio congressman, along with ron christie, republican strategist. Ron, ill start with you. Why do you think the hillary camp thinks cruz is the one whos poised to be the nominee . Well, i think listening to carls report, liz, he certainly has the money hes going to need. Hes got about 26 million in his personal campaign and 36 million in his super pac, and if you look at the dropoff of dr. Ben carson, it seems to all be going to cruz now particularly in iowa where hes up, hes got the momentum, hes going into tomorrow night in a much better position, you know, to be able to position himself as the front runner. And i think mr. Trump and mr. Carson are going to see him in the rearview mirror. Liz congressman, what do you think about the fact that john podesta got right out there . Doesnt that give an advantage to cruz . And what should that mean to the democratic side . Is cruz tougher to beat than a donald trump or vice versa . Well, first of all, john podesta is very shrewd, and it could be that hes just stirring the pot here so that he keeps the republicans at odd toes with each other odds with each other. Im sure that the Clinton Campaign would rather run against cruz. I dont think they want to run against trump, but truth be told, they dont have any influence over that whatsoever. Don trump has established himself nationally and whether you love him or not, the fact of the matter is e has resonated he has resonated. The poll you talked about a moment ago, 4114 over his nearest competitor, he is certainly poised to be able to take the nomination. But ted cruz bears watching. Hes somebody who is more of a technician, does data mining, behaviorist studies in terms of voters. Hes an interesting person, but i think trump at point has control. Liz and, ron, its important to note that even though ted cruz is leading in those two polls in iowa, we know that Rick Santorum and Mike Huckabee won iowa. That does not speak for the greater United States of america. Usually when youre looking at the winners there. No, it doesnt, liz. And i think what senator cruz is trying to do here is position himself and say ive got momentum. Ive got the winds at my back, and im going to win in iowa, itll help me, obviously, in new hampshire. And then look at conservative states like south carolina. So i think its more about him trying to pick up as many early states as he can without placing too much emphasis on iowa, but theres no question youd rather be ahead there than lose. Liz and congressman, is it pretty much over for Bernie Sanders . I hate to to really put that out there, but it looks like Hillary Clinton is so far ahead in these cases, what is the democratic side saying about Bernie Sanders . Its not over by any means. Bernie sanders has a highly motivated base of people who are going to go out and work for him and will vote for him. Secretary clintons challenge is to get her supporters out there. Its still very much a race. I wouldnt at this point declare it over. Liz wonderful to have you both, and its far from over. Well have Dennis Kucinich and ron christie back again many times, im sure. Good to see you, guys. Be sure to set your dvr first for wednesday because that, of course, is the fed decision day, but also for fox business next republican president ial debate, thursday, january 14th. Weve got it. Our second shot in just a couple of months. Closing bell, were 17 minutes away. The markets appear to be shaking off the bond jitters, as in junk bond jitters. Charlie gasparino coming up. Hes going to tell us how one ceo found himself without a job as his Junk Bond Fund falls apart. Charlies got the inside skype on just exactly what happened. You need to hear it, next on countdown. Dows up 36 points. Usaa makes me feel like im a car buying expert in no time at all. There was no stress. It was in and out. 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For a free quote, call Liberty Mutual at switch to Liberty Mutual and you could save up to 509 call today at see Car Insurance in a whole new light. Liberty mutual insurance. Liz 106 times, thats how many times the Dow Jones Industrials has crossed the flatline, shows exream indecisiveness at the moment. The dow right now is up 62 points, so if youre a bull, youre happy about this. Youre happy with the green on the screen. The s p is up 5, the nasdaq better by 6. We do see some lagging with the wuss russell 2000 with the russell 2000. Oil continues to be an interesting play here. Oil earlier today hit a multiyear low, sevenyear lows, but then it completely reversed and now its moving higher by about 57 cents. Junk bonds spooked the markets on friday when a Company Called third avenue said weve to close our Junk Bond Fund, and its a real problem, and you cant have your money out because of it. And now we do have this breaking news that i just want to give, it appears that the sec, the securities is and exchange commission, is on site at third avenue, and they are looking through papers, and they are evaluating third avenue managements efforts to insure that it is protecting investors through an orderly process. Investors want to take their money out because they know the fund is closing. Third avenue had said last week, you cant touch it. Weve got to figure this out. So at the moment the sec is on site, but if you look at the major indexes that track many junk bonds, hyg, that means high grade or jnk for junk, theyre touching their lowest level since may of 2009 today as three highyield credit funds announce theyre shutting down. It shocked wall street because two out of three, i believe, right, charlie . Were barring investors from taking their money out. Yeah. This is scary times. Lets talk about third avenue because this is a big hedge fund. It was once something liking liz three billion . No, it was more than that. 18 billion. Maybe now down to three liz well, still at 7. 88. Down tremendously from the summer when the junk bond rout began. Lets be clear here, when you keep Interest Rates this low for this long, people go out on the risk spectrum. They buy stuff like junk bonds. A lot of average people bought junk bonds either from mutual funds like third avenue, or they went out and bought etfs liz yields are Something Like 8 guess what happens . You have a correction. Guess what happens even more . Because banks themselves cant hold onto bonds, they cant hold inventory of bonds because of doddfrank, the correction becomes even worse, and thats what you have right now, a complete implosion of junk bonds, and its starting to cull some victims. One of the victims is this third or avenue fund. Now look at this, this is where it gets interesting. Thursday, barred people from redeeming money out from a mutual fund. Thats almost unheard of. Liz crazy. That happens all the time with hedge funds. Mutual funds, thats average people, barring them from pulling money out thursday. On friday what fox business has learned was there was a Management Meeting inside third avenue friday night, and by the next day, by saturday david barce, one of the leaders of the fund essentially the ceo of the fund company was ousted from the firm. He was locked out of his office. He couldnt get in, you know . His email was basically non, was unusable. So thats the whole scenario. Thursday he bars redemptions, almost unheard of. Friday they have that Management Meeting friday night. Saturday hes out. Thats a pretty interesting chain of events. Generally when youre remember, hes the guy that put out the press release on thursday. So by saturday hes fired . Liz yeah. Boards, let me tell you, across the board a lot of boards are a real mess. Charlie, perspectives important because the junk bond world has been declining since, i want to say 2013. Particularly since the summer. Liz hadnt seen positive move to the upside for 13 years. Particularly since the summer. Thats been since the summer. Liz i was looking at returns for hyg, down 24 over ten years. No, thats the denyear decline tenyear decline, but when did it really start to implode . Look at that chart. In the summer. Thats when you really had your major downdraft. And thats when some of these funds became obvious that they were overleveraged and too much, you know, were in trouble including this. Now, i would point out we do know the secs looking at this, examining were not saying theyre investigating, but when you have a fund guy, im not saying anything dones wrong, weve got calls into mr. Barse, the pr people from third avenue. When you are the face of the fund on thursday liz and youre fired on saturday what does that . Theres something liz disarray. Theres Something Weird with that scenario. We have not gotten to the bottom of it. But thats an odd set of circumstances right there. Liz nothing weird about fox business though. You saw the ad in the wall street journal and the New York Post today. Oh, thats right. Liz fox business is the Fastest Growing channel of all cable channels the entire year of 2015. Yes, thats great. Liz yea [applause] bravo. How come im not on that thing . Liz well, because you have your own charlie breaks it poster. [laughter] by the way, this could affect the stock market. This week is going to be youve got to watch fox business this week. Its going to be crazy for your money. Liz especially the final hour on wednesday when the fed moves, if it does move. Charlie, thank you. Keep watching us. Liz Dow Jones Industrials jumping 85 points. Well be right back. Liz breaking news for. We have the ceo of bridema make your big call . I think you will see a three to 5 rally, liz. The fed moving tomorrow will finally get the monkey off our back. I think that is catalyst for stocks to move higher in the short term. Liz youre telling me well have an appearance by the santa claus rally . I think so. I think we sold off too much. Correlation between oil an equities gone a little too far. If you look at fundamentals, you Pay Attention to tomorrow afternoons speech by chairwoman yellen. You will hear positive things about the economy. You have strong labor markets. You have decent economic growth. Absence of inflation, these are all very positive things. Liz wednesday what will happen, well be live from the floor of New York Stock Exchange 3 00 p. M. Eastern as soon as janet yellen finishes her News Conference of the what will i be saying as we hit another high . You will Say Something smart. I watch your show all the time. You will hear quarter point and speculation and promise they will hike in january. If conditions exist today persist. That will be the key word, they say persist. That is what they have been saying all along, based on what is happening in the economy. The fed has positioned itself to raise rates based on a stronger economy. Liz why is this happening right now . Why are we jumping 100 points why are we up down, up down . Theyre watching fox business news. Liz good answer. You believer in nike, apple . You look what went wrong in 2015, i was fairly bullish. With we got wrong was the earnings growth. Focus on Companies Growing revenues and growing earnings. Theyre taking market share away. Look what nike has done this year. Look what apple has done. Liz i will let you have it. In terms of running business they have grown. Sold more iphones and tablets than anyone else, right . Sometimes the market takes a while to catch up. Liz you leave us breathless. Well see if the santa claus rally makes that. Thanks, liz. Liz oliver porch. What a rally. David interesting person of events. Thank you so much, liz. President obama speaking earlier at the pentagon, defending progress made in fight against isis but offering no shift in domestic or foreign strategies. Well talk about that. Melissa big red flags were missed. One of the california shooters showing Online Support for violent jihad before passing three background checks coming into the United States. David all aboard the trump train. The donald hit as new high in the latest national poll. Numbers surging despite the backlash. Look out in the key state of iowa, ted cruz has taken the lead. Melissa first, the stocks, dow climbing final minute of trading. [closing bell rings] were now up nearly 100, more than 103 points as closing bell sounds on wall street. Here is where were ending the day. Gold trade, look at that risk off down better than 12 bucks. David we have more on the markets. First president obama at the pentagon today trying to make the case were winning war against isis. Fox newss kevin corke with the latest on president s statement today. Kevin . Reporter david, good day to you from the white house. Simply the president is doubling down on his strategy against isis. Clearly that is his headline from the voice to it the pentagon of the this is the fifth time he has done that in his presidency. Once again the president said he would get together and did so