Transcripts For FBC Varney Company 20161222

This morning, already, Kelly Anne Conway appointed to be counsellor to the president. This is why the dow remains close to 20,000. Investors are betting that trumps pro business, pro growth team will deliver and deliver us to 20,000. Were 58 points away, yes, we have that graphic away. The 20k edition of Varney Company is about to begin. Hark the herald angels sing, glory to the newborn king now thats Christmas Music, okay . None of this classic holiday stuff. This is no, no, no, who is that . Thats frank sinatra. [laughter] im moving to hoboken, number, how about that. Were playing you Christmas Music and yes, of course, were still on dow 20,000 watch. We are, i believe, 58 points away, ive got to tell you the futures are pointing a tad lower for the opening bell this morning. About a half hour from now, im going to call it dead flat, 58 points away. Im going to get to germany now, they have still not found the Christmas Market terrorist, thats who he is. A tunisian migrant previously investigated for ties to terror. He wasnt allowed to come to america. Germany couldnt deport him. They tried and he didnt have the proper paper work so he stayed. Theyre looking for this guy all over europe and hes still on loose. Look at this, the Christmas Market, scene of the berlin terror attack, reopened today and theyre calling this a sign of defiance. Concrete barriers block the entrance where the truck came in other than that trying to make it look like business as usual. President trump, i am a im going to call him the deal maker in chief. And china get the costs down and we had the chairman of boeing, ceo, and i think were looking to cut a tremendous amount of money. Stuart i dont think weve seen a president elect or anybody else strong arm major american corporations quite like that before. Look who is he. Washington examiner columnist lisa booth. Hi, stuart. Stuart youve never seen anything like this before not just the strong arming of big business, but the cabinet assembled. This is the guy who wrote the art of the deal and he says hes going to be a deal maker and the lightning pace hes filled his cabinet choices and the fact that hes running or picking his cabinet choices from a business standpoint and the sense i think theres going to be a lot of delegation. Hes picking a lot of people who have either been successful in their own right as ceos. Generals who have obviously run the military capacity. Stuart the left hates this. Or governors as well. They hate it because its going to be fundamental. Stuart business people, generals. I think they hate it more for the fact based off the choices hes made the entire government the way the system has been running for the past eight years is going to fundamentally change. Betsy devos will bring school of choice and fundamental changes to the education system. Look at scott pruett, attached for epa chief, changes to the epa, rolling back the regulatory authority. Stuart the objective is reverse obamas policies and change the way that government does business. And hes doing it. Yeah, absolutely hes doing that. I mean, and were just going to see those big changes keep going through and i think thats why youve seen sort of the left, their heads are on fire is because theyre seeing him pick all of these cabinet choices that really want to fundamentally change the way that those agencies are run and also the way that washington works. So, were going to have to get our popcorn out and watch the confirmation hearings because its going to get interesting in washington d. C. Stuart who said, elections have consequences and you lost. I think president obama in 09. Go back and watch that. Stuart and the editor, i want you to comment what donald trump is doing with Lockheed Martin and boeing. I say hes strong arming that. A lot dont like that. The stock price, boeing is up 11 since election day. A lot of people dont think its bad for boeing. The president ial plane is a tiny part of their revenue. Boeing has much more to gain from the reflation trade happening under trump. Oil prices are rising and airlines around the world want to buy more fuel efficient mraenls. Stuart do you have any objection to the president elect of the United States calling in these guys and saying, hey, hey, hey i dont have any objection to him talking about bringing costs down. Lets be honest here, if this was obama doing this, you would have defense officials all around the country saying hes trying to destroy the american military. Trump is getting away with it. Im not saying its bad, its a sign that trump may make changes that other president s havent made, and may be theres i thought you would say thats a terrible thing to do in a capitalist society. Ill wait for him to do something terrible, so far its tweets and talks. Stuart and today he names the former Campaign Manager Kelly Anne Conway as his president ial counsellor. I weighed in factors including my children and i know its going to be a Family Friendly west wing and white house and ive seen him with his children and grandchildren and decades in years of the trump corporation. Im fine on that. Stuart a lot of people, feminists attacked Kelly Anne Conway because she might prefer to spend more time with her family as opposed to take a job in d. C. Lisa booth, what do you say to that. Shes attacked because shes a republican. Shes never going to get credit where credit is do, the first female president ial Campaign Manager to successfully run a campaign. If this was a democrat who successfully run the campaign thats all you would be hearing about. The republicans will never get their fair share. Stuart isnt she doing what she wants to do. She can and will spend time with her family, theyre moving to d. C. And at the same time, she can and will be a counsellor to the president. Thats having it all, really, isnt it . And she also has, i think, four children, a successful business woman as well. Stuart under 12. And running a president ial Campaign Successfully ever the first time as a female, successfully as a mother as well, of four. So i think shell be just fine and i think its a positive decision for donald trump. Stuart shake your head, youve never seen anything like this before. We established that at the beginning of the show. We got that out of the way. Stuart youve got a front row seat on history and its made in front of your eyes. This is fascinating. Three days until christmas and im going to call amazon the stock of the year, the stock is up 14 in calendar year. They are the online kings. Set that against this. Foot traffic in the bricks and mortar stores, shopping malls, down compared to last year. Some of the biggest names you know announced store closing, aeropostle, macys, office depot, walmart, a long, long list of them closing bricks and mortar stores. Tom sullivan welcome to the show and great to have you with us. Thank you. Stuart this is the amazon effect, isnt it . Listen, my shopping is 99 amazon so i skew the results, but really is so much more convenient, so easy. Its now trustworthy. Remember in the early days, you ordered something online and maybe it got there at christmas and maybe it was january 15th. Now its like clock work, theyve got this down. Stuart and i think that a lot of the shopping malls are going to close. Theyll lose their anchor store am i going too far . Youre talking to the wrong guy because im not a shopper. I would prefer to do any id prefer to have a dentist appointment than go to the mall. Stuart me, too. Financial analyst jack hough. A lot of stores are going to close and you could see retail bankruptcies in the next couple of years. America is vastly overretailed. All of these guys are adding stores and the chiefs ive talked to its about omni channel shopping, were going to get them in the stores and online, its not working, there are too many stores. Stuart ive got this for you from snap chat. This is a disappearing message app. Theyre going public next year. Theyve put disneys original content on snap chat, that could be big, especially for the ipo thats coming. We have this, dana white, a man who built a multimillion dollar sports business ufc is talking about challenging the nfl for your sports dollar. Hes a big trump guy as well. The president elect moving meeting with dozens of the nations top military brass in the country, that was yesterday. What was that meeting all about . Well get into that. And we couldnt resist showing you this. These are pagan losers. This is britain. Theyre gathering once again, this is stonehenge, how cute. Theyre parking the winter solstice, the shortest day of the year and beginning of winter. We wont see them again until june. Thank heavens. [vo] is it a force of nature . Or a sales event . The season of audi sales event is here. Audi will cover your first months lease payment on select models during the season of audi sales event. The Political Correctness worked for Khalid Shaikh mohammed, it allows them to work in our midst without challenge and sharia law without us pushing back on it. And we end up inadvertently imposing on ourselves the blasphemy laws of sharia because we cut back on the things that they find offensive. Stuart well, that was dr. James mitchell, the man who interrogated 9 11 master mind Khalid Shaikh mohammed. He appeared on the kelly file last night and talked about how the rise of our politically correct culture contributed to the spread of islamic terror. Come in fox news military analyst thomas mcinnerney. I presume you would agree with mr. Mitchell, but i want to talk about president elect trump meeting with a dozen admirals and generals. Did that have to do with terror . It did, but with the air force one and f35, stuart. Plus, i think the president , hes a master, as you and lisa were saying, weve never seen anything like it. He is a master of judging people and i think he wanted to see the top military leaders. They are absolutely delighted that President Trump is going to be in office the 20th of january. They have been through hell the last eight years, if you look at the south china sea, the ukraine, middle east, afghanistan, everything that this president has brought about and destabilized the world and theyve had to sit and watch it. Stuart okay. Now, i want to show a brief sound bite of president elect trump talking to reporters about muslim immigration, roll tape. Has it caused to you rethink or reevaluate the plan you know my plan all along to be 100 correct. Whats happening, an attack on humanity is what it is. Its an attack on humanity and its got to be stopped. Stuart now, let me just add this, general. The trump team says theyre going to stop federal funding to cities is that part of the terror drive . Absolutely. We are protecting immigrants that we dont have any background, particularly travelling them out in l. A. Right now, and in the airport, there are more immigrants travelling through there and you could see they were freshly arrived and theyre being sent to states and people in the states, the governors dont even know theyre coming in there. So thats got to be part of their strategy to defeat radical islam. The important things that those generals and admirals that you saw yesterday, on the 20th of january, theyre going to call the threat radical islam, not violent extremism with this administration has. They will now know what the ideology theyre fighting is. Stuart do you think that mr. Trump as president , will use military assets to go and fight literally fight over there against isis . I think he will use military assets, but hes going to let the muslim nations, who must pick up the fight on the ground, they are the ones that must defeat radical islam, its within their society. You dont want infidels doing that. We proved that didnt work when we moved out of iraq even though we put in effort, we didnt win their hearts and minds, they just wanted our money. Now we will use our intelligence, air power, the advantages that we have to defeat this ideology and to defeat this force, but we must defeat the ideology and define it, just like dr. Mitchell was talking about. You cannot have sharia law in the United States. It directly violates our constitution and yet you have in these communities that they want sharia law. You have it in the United Kingdom which you know very well. You cannot have it. Stuart i suspect, general, that youre a happy man with president elect donald trump. Ill leave it at that. Merry christmas, general. I am very happy. Stuart i know you are. Thank you, stuart. Stuart i was looking for the smile and ive got it. Boeing is looking at a deal to sell plans to iran. Airbus is there with that pile of cash that they picked up, theyre buying some expensive airplanes. Airbus says theyre selling to iran 40 well, its a total of 100 jets, 46 a320s, and a bigger yet and 16 a350s, the brand new once theyre coming up with, its going to start deliveries in 2017 so iran, spending that money. Stuart yes, okay. Ive got it. How about this . Another frequent varney guest joins the trump team. Peter navarro wrote a book death by china, hes going to head mr. Trumps new trade council. What does it mean for trade death by china written by that guy. And were on 20k watch, 58 points away, three days until christmas. 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Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. What china has done to our country is the biggest theft and the greatest theft in the history of the world. This is the one i didnt want to hear. Give me china. Give me china. China. You ever see chinas . China. China. China. We dont win anymore, when was the last time we won . We lose to china. Stuart well, on the subject of china, mr. Trump has named Peter Navarro hawas named, and e is no fan, he wrote a book death from china, jack from barons. The market is worried about a full scale trade war with china. We dont want a trade war. We want to stick it to china in places where theyve been cheating. Weve done it in steel. They overproduce at a loss in order to keep the jobs and then they take the steel and dump it in our market and drives our steel maker out of business. Stuart i wasnt expecting this from jack. We cant allow cheating. Now, the problem with a broader trade war, if we get into all kinds of goods is, you look at the u. S. Imports. A lot of these are intermediary goods, we buy things from china and turn them more expensive and is he will them overseas. Lets not hurt our exports. Stuart what do you think about having someone who wrote death by china. I dont know what they did because we wound up with the other side getting the benefits. Our trade imbalance keeps getting bigger and bigger. Who were these negotiators . Who were they . Theyre not on the scene anymore. No. Stuart and when we opened this market, its going to be a fairly muted open. Fairly flat, maybe down a couple of points. Weve got that fancy graphic ready to go in we hit dow 20,000. Id like to use it, we spent some money on it in the next two and a half hours. We will be back. And dana whyte recent sold ufc for 4 billion dollars. The context, the nfl has annual revenues of 9 billion. That guy is on the show. Youve never seen anything like this, the trump transition, youve never seen anything like that before. More on that in a moment and the opening bell. Okay. You know what were doing here. Were on 20,000 watch. We are hoping that we get to 20,000 this morning in the next two and a half hours during this program. We would like to see it. I dont know whether we will get there or not, weve tried for several days. Weve come close, but we havent quite made it. As of right now were 58 points away. Bang 9 30, its thursday morning, were off and running, see a lot of red up there, were down 19, 22 points, were down at the opening bell. Off a fraction in percentage terms, but down 16 points as we speak. The dow 30 shows a lot of red, means a lot of selling, a lot of down stocks there. How about the s p 500 . Where is that, you may ask . Down a teenie fraction. How about the nasdaq, whats up with that . Tech heavy and thats down and virtually unchanged as we speak. The price of oil, 52 a barrel. The price of gold this morning is 1131. There you have it down 2. I find it interesting, the price of gasoline keeps on going up. Its now 2. 26 on average for regular across the country. Who is with us on this thursday morning when we may hit 20,000 . Tom sullivan, jack hough howe, harry levin. Are we going to hit it. Were a half percent away. We could get a wiggle in the market and head there. Take note as we head toward that christmas date, if santa claus should fail to call, the bears may come to broad and wall. Wall street. Stuart really . If we dont get a strong push to the end of the year and dont get 20,000 im looking for a small pullback that will be the best opportunity. Stuart larry levin, youre a trading kind of guy, you understand the market from the inside. Would i be right in saying there are big time traders who dont want to dont want to get in too early. They dont want to buy now to push it to 20,000, they might get caught as being the first to jump in. What do you say . Certainly traders dont want to get caught, stuart, thats true. At all times they dont want to get caught at the top and thats more true now. I would say i kind of agree with dr. If we dont do it in the next day or so, weve got today and tomorrow, christmas is on under, weve got another week in the year, but only a couple of days until christmas. I dont think its going to happen, i think it will pull back today and a little more tomorrow and maybe next week, if not next week, i think that people will step in and start selling the market and a downdraft and that as dr said, it will be a good buying opportunity. Stuart tom sullivan is nodding his head. This is the deal every time we try to get to one of the odometer rollovers, we go at it and pull back. I think a lot of traders or out today and tomorrow, volume is light. 2 45 today is happens. They will have a lot of starches, and christmas cookies and 2 45 theyll come back and everybody feels better at 20,000. Stuart not good enough. I want it before 12 noon. And donald trump met with look heed martin and boeing, and he got them, what does that say about a president and bends them to his will. Larry levin, do you approve . Yes, america and these companies have to get aligned. In the next year or couple of years, the companies and donald trump trying to figure out how to bring the money back. Theres so much money overseas not here in the u. S. And this is the start of that so im totally for what donald trump is doing and i think youre going to see a lot more of it. Stuart what about you, tom . This is more important than cutting taxes, cutting regulations. Im thrilled that icahn will be the regulator in chief, if you will. And trade war, i know jack is worried about it. Im not worried about it. Its about time somebody got tough in the negotiations. Stuart what do you say, dr, should the president go avid companies and make them bend to his will . If trumps the guy we hope he is, then he will do this early on, set the tone and then let other people do it, step back and not be taking these meetings, taking people headon, but youve got to look at whats happening in boeing. You know me as a numbers guy, hes talking about a deal small potatoes for boeing, 4 billion over multiple years, theyre 100 billion a year company. So its not that big of a deal you know why were playing the trumpets. Microsoft has gone to 63. 93, all time high. You buy lunch . I bought yesterday. 63. 92, the one Big Technology company thats done very well after the election, the others were pretty much stable to down, but microsoft is challenging brand new highs, 63. 93 as we speak. See this smile . Indeed. Stuart still on donald trump appointing carl icahn, the chief deregulator, i guess you call him. Taking a nonpaid role in the white house, an advisor to the president , not an employee. And he, by the way, is no fan of doddfrank, the reform regulation pushed through by president obama. Jack hough you should be pleased. Icahn is a Campaign Contributor here and he has a big book of business a major shareholder in aig. If were talking deregulation, theyve crumbled the American Economy and theyve been hit with some and we dont want carl icahn, its time for insurers to make a lot more money. Shares of his publicly traded Investment Vehicle are off 20 since election day. Im not saying its going to happen, but lets keep an eye on it. Stuart without saying it you implied conflict of interest. A huge conflict of interest, but havent made it an official position so he can keep doing his thing while talking to the president. If hes talking about just onerous, if hes secretary of talking his own book, thats a problem. Stuart if he gets rid of doddfrank im a very happy guy, okay . And the bank stocks are going to go straight up if he says doddfrank the market loves icahns Investment Vehicle right now. Maybe its worth a look. Stuart we better check our big board because were not at this moment watching dow 20,000. Were down 30 points, that means were 70 odd points, 80 odd points almost away from dow 20,000. Were down 27. The lower sales at conagra, the stock is actually up this morning. They make slim jims, banquet frozen meals, peter pan Peanut Butter, a raft of products. They didnt look too good before the market opened, but now are up 3 1 2 . Amazon 14 higher this calendar year. Nicole, what do you have for us on amazon today. Stuart were watching amazon, the Holiday Season is coming to an end and fedex and ups to shift things. Amazon has prime and theyre pushing that for the procrastinators. They have something called the procrastinators delight to get things one to two hours. If youre butting up against christmas on the 24th, you can shop. Amazon has been the behemoth, right now its off the annual high back in october of 847. Still so competitive and also the ecommerce overall versus when people go into the stores and the like, the National Retail federation saying that ecommerce sales in november and december, expected to surge at 10 . I read another place, 17 , but the big picture is here, is that we know so well, is that mobile shopping, online shopping, that certainly has been growing and is expected to continue to grow in the years ahead and theyre competing in everything from groceries and now working on delivering everything to you, too, with their own trucking and airlines and the like. Stuart nicole, let me give you the other side of the coin, bricks and mortar stores, ive got numbers on them and the foot traffic, the people who are actually going into bricks and mortar stores, down 10 through december 17th. Some of the biggest names in retailing have all announced theyre going to close stores, this year, next year, theres a whole slew of them that are actually closing down those bricks and mortar or part of their bricks and mortar operations. So, jack hough. Yeah. Does that mean the retailers are going to basically become Real Estate Companies . What are you going to do with the real estate. Stuart good question. If theyre not in these kind of businesses, what are you doing with the space . This group is to me, theres not much to like here. There are a few niche players maybe. There are too many stores and amazon is hurting a lot of these guys. I think youll see a bump in some of the stocks because the business is done in the u. S. , have very high tax rate. If you see a tax rate going forward, you probably will, probably chief among the companies that get the benefit. If theres a shortterm bounce, maybe take a profit. Stuart youre a manager, you wouldnt touch them with a ten foot pole. Most of them avoid, avoid and short. A technology play, look what amazon is doing, going brick and mortar with the go Grocery Store and eliminate a lot of jobs and technology and macys and all the others, theyre not keeping up with it. Theyre doing online, but need to take care of their brick and Mortar Technology revolution. I think that mr. Trump might give amazon an antitrust problem because of the jeff bezos washington post. Stuart look at share price of disney, theyre going to create programming for snap chat, thats the app where your messages disappear after a few seconds. Snapchat goes public so you can buy stock as of next year. Do you think that disneys move to put original content on snapchat makes snapchat a more important stock . I think its a great branding move for them and i think that snapchat as a name is coming right at their peak. Facebook had not peaked when they came out and their stocks been going up so their ipo, i had a dozen kids in my Church Youth Group and every one of them said the favorite single app is snapchat. Stuart did you make money out of it . And i think they will as opposed to twitter a way to monetize the eyeballs. Stuart its not a passing fad . It will have the sunsetting and then the grandmas will start using it so theyve got a lot of passing on to do. Stuart and the transition, considering a 5 tariff on imports. Are they asking for a trade war . Larry levin, that sounds ominous to me, a 5 tariff on everything that comes across the border . What do you say . I think youre going to see more of this. I think that donald trump is looking for a trade war and get america to be competitive again and do a lot of things i think are going to annoy a lot of people and work through those things. Remember, trump is a negotiator, so hes going to put a high offer out and work back to the middle ground thats going to work and always work for america, im a big fan much that. Stuart all right, he negotiates, what he does. Comes out in a strong position got to keep them on the trump discount, hear what he says and keep in mind you might get something more in the middle. Stuart were down 35 points now, at 19,906. Thats where we are. Dana whyte built the usc and sold it for 4 billion. Hes a big star in the business world. Hes on the way into the studio. The russians say their relationship with the americans have frozen. The question, wouldnt better relations with russia under mr. Trump be good for america . We will ask that question next hour. Well, we were on 20,000 watch. Right now were watching to see if it goes below 19,900. Were off 35, 19,906. Listen to this. Bed, bath and beyond theyve got lower foot traffic at the stores. That fits the narrative. Food traffic is generally down in bricks and mortar stores. Its down at Bed Bath Beyond and that stock takes it on the chin, down 5 . Will you look at twitter . That stock is now down at 16 a share and its down 25 this year. Dr, what president elect trump uses twitter every single day, the whole world knows the name and the stock is at 16. Yeah, its one of those things lots of people use. If i want to know whats happening, i go to twitter first, its the fastest. They have not find a legitimate model for those eyeballs. Every time they throw advertising in, its a rollercoaster ride. Somebodys going to buy it and jump 2 bucks again and then drop back down like it did. Its a tough, tough, row to hoe. Stuart its now down 28 this year. Look at this one, groupon. Some users have had their accounts hacked and the hackers went shopping with the users money that theyd hacked. Whats with that . You know, the thing about this is how criminals are stupid. Theyre ordering things for themselves. Theyre taking european vacations on somebody elses dime. Dont you think that somebody might be able to figure out who stole the money . Yeah, youd think. Yeah. Stuart you would think that. Very, very smart. Look at that chart, thats a rotten chart. I want to deal quickly with dine equity, they own applebees and ihop and combining the two restaurants into one, just in detroit, i think that is. Why are they doing that, tom . Ihop bought applebees so a franchisee in detroit is saying i want to have like a good court. A 12,000 square foot restaurant and serve pancakes, breakfast lunch or dinner, across the street from the Renaissance Center in detroit. Dine equity if you you have to talk to franchis franchisee, its better to have a corporate owned chain if you want drastic changes. Stuart you dont like it, ive got that. Thanks very much indeed. Have i got a star for you . Our next guest sold the usc ufc, im sorry, ufc, thats the ultimately fighting championship, he sold it for 4 billion in july. Essentially, this guest, who is now on his cell phone. No, hes not, hes off his cell phone, you made a huge success out of a sport thats relatively new. Thank you. Stuart dana white, welcome to the show. I wasnt alone, we bought it back in 2001 and sold it for 4. 025 billion. Stuart are you a billionaire . I am not. Stuart are you close . Welcome to the show. I had a good piece of it, you know . I made a couple of bucks on the deal. Stuart for the sports dollar, seems to me that youre kind of challenging the nfl. Theyve got revenues of 9 billion a year you dont have revenues like that, but youre growing by leaps and bounds. Were finally getting the respect and how big the sport it and what were capable of. The nfl how big it is, biggest in the United States. Other countries dont care about it. Weve been in russia and every country in the world. Stuart youre cashing in if i say the demise of boxing, i think thats what youre doing, youre placing boxing with real fighting. Theres blood on the floor. Thank you, sir. Thats why youre popular, theres blood on the floor. One thing, i dont care what color you are, what country, what language you speak were human beings, fighting is in our dna, its fighting and we like it everywhere. Stuart youre not supposed to say that. Ive been saying that since 2001 and thank god it was right. Cricket is the biggest thing in the world somewhere. We doesnt care about cricket here and we never will. American football is the biggest thing here and people dont care about it in the other parts of the world. Fighting . Everybody likes fighting. Stuart did you introduce the cage. Realistically, i didnt. Because its mixed martial arts, you can punch, quick, wrestle, its a safety thing. Guys dont fall out. Even in boxing, this weekend, Bernard Hopkins got knocked out and fell out of the ring, so its a safety thing. Stuart would you just stay there for a second . Complete a little more business and i want to talk about your backing for mr. Trump and his skill as a negotiator. Are you up for that . Sure. Stuart dont beat me up too much. The dow is down 31 points. I think you could say safely the march to 20,000 has stalled this thursday morning. Weight watchers, Oprah Winfrey launching a campaign revealing she lost more than 40 pounds since she joined Weight Watchers. A 12 gain. Stay with us, dana white will be back with us and well be back after this. P, and reduce symptom severity by 45 . Shorten your cold with a snap, with zicam. Im stressed trying to figure out this complex trade whats with the dogsized horse . So i brought in my comfort pony. Well, you could get support from thinkorswims inapp chat. So you dont need a comfort pony. So what about my motivational meerkat . Inapp chat on thinkorswim. Only at Td Ameritrade. Dana white remains with us, the man who built ufc with some help and who sold it for 4 billion bucks a few months ago. A wealthy man and a great guy. Welcome back. Thank you, sir. Stuart you know donald trump. You know him very well and you spoke at the Republican National convention. Right. Stuart hes a deal maker, isnt he . He is, a deal maker and hes not a bad guy. Hes a very good guy. Stuart a tough guy. There are a lot of misconceptions about donald trump. Donald trump is a guy who has always been when he didnt have to be supportive of me and when good things have happened to me in my life hes been there and i have a lot of respect for the man. Stuart a rough and tough guy. He is. Listen, hes a guy who i believe will get things done. You know. I think hes going to be a much better president than people are giving him credit for. Stuart were you in the room on election night, november the 8th, were you in the room with him when he won . I wasnt in the room with him. I was actually at the peninsula hotel. Stuart thats where Hillary Clinton was. Thats right. Hillary was stop laughing. No, its true, its true, its weird. She was there and they called me and told me were going to win, meet us at there. Stuart you did see him. Yes. Stuart were you one of the first to say mr. President . Is that the moment . The moment to that guy . Every time i talk to him i call him mr. President now. Stuart of course, you should. From that night on i call him mr. President. Stuart a typical varney question, what are you going to do with the money you made selling ufc. Im still working. Nothing i need, im good, im good. Stuart dana white, a pleasure. Remarkable success. Happy holidays. Stuart thank you very much. All right, new at 10 00 Just Moments Away theyre searching for this guy, searching all over europe. He is the suspect in the berlin Christmas Market terror attack. 72 hours later, they still havent got him. Russia says its relationship with the u. S. Is quote, frozen. Does that give president elect trump an opening . Well deal with it. Two minutes away. I was wondering if an electric toothbrush really cleans. Yre really. Different. Who knew . I had no idea. So, she said look for. One thats shaped like a dental tool with a round. Brush head. Go pro with oralb. Oralbs rounded brush head surrounds each tooth to. Gently remove more plaque and. Oralb crossaction is clinically proven to. Remove more plaque than sonicare diamondclean. My mouth feels so clean. Ill only use an oralb the 1 brand used by dentists worldwide. Oralb. Brush like a pro. G new cars. Youre smart. You already knew that. But its also great for finding the perfect used car. Youll see what a fair price is, and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Terrorism has destroyed the european union. Continent has not recovered to open the doors to young muslim men. The illegal who welcome them are being swept aside. In america, the issue of terrorism was swept into the immigration debate. Trump said, limit muslim immigration. Clinton said, open borders. Trump won. A few hundred yards from where im sitting right now couple of hundred yards from this building large concrete barrier occupy on the streets. We are adjusting, no terror trucks here, please. Or in d. C. For the inauguration our open, free, way of life is threatened. The christian world is under attack. And now the counterattack, in europe, the authorities are stopping up deportations. And theyve called a halt to the migrant surge. In america, donald trump promises tougher surveillance and much tougher vetting of anyone who cools here. After the berlin attack he was asked what he would do here. Quote, youve known my plans all along he said. And then he held a meeting with group of generals, seems like a turn from defense to offense. From absorbing terror to challenging it. This is good. Radical islam has taken aim at western civilization but we have woken up to the threat of more muscular response is underway. The second hour of Varney Company is about to begin. What do we have now . Weve got weekly read on Mortgage Rates give me the number. Every thursday they cool out with it and it has spiked up to 4. 3 . Thats still relatively low compared to history. But still it is much more than where it was last week. Thats extrordz extraordinary just before the election 3. 4, 3. 5 . Six weeks later at 4. 3 . Isnt this all about the expectation of growth in the future . The future, the fed going with saying were going to raise Interest Rates three times next year all of this is addings to where Mortgage Brokers are just bidding number up. Stuart the ten year treasury yield is actually on track for first downside move weekly downside move in some thyme which means that maybe Mortgage Rates could edge back down again a little bit in the future. But bottom line is as of now, it is 4. 3 that is historically speaking low, but for the past couple of years concern buying a home or refinancing i would get on it. I would get on it. Ismght a lot of people on our team are on it. Trying to get through the paper work. Yes, sir. Update this one for you search is on for the terror suspect. David is with us today. By the way welcome to the program. Thank you very much. Great to have you with us. What do you know about the per on the screen, the suspect what do we know about him . What you were saying the response to terrorism is right on, this guy is kick the a about how terribly ill prepared the europeans are in germany specifically is to deal request terrorism. This guy arrived in europe seven years ago from tunisia, he traveled to europe as an illegal immigrant settled in italy, then for some reason burnt down a school in italy. We dont ask, dont dont knows activated by terrorism but he spent four years in jail according to his father and italian prison for burning dun a school and then in july of 2015 he went to germany and he was denied the right to asylum because they have papers they knew he spent four years in jail in italy for burning down a school but under a peculiarity of the system they were unable to kick him out. They knew he burnt down a school and spent four years in jail Illegal Immigrants and couldnt kick him out. And thats why he was still there. That is incredible. Absolutely amazing incredible what a mess, and then they arrested the wrong guy, and le thats a disaster for Angela Merkel, and i think it has slit europe. And i dont think theyre going to recover. Thats my opinion strong stuff. Well have more on this later. David great report there. Russia says relations with the u. S. Have hit rock bottom. Spokesman says this, almost every level of dialogue with the United States is frozen, we dont communicate with one another or we do so minimally. And then we have a russian studies professors at nyu saying that the russians are anxious. Watch this. Russias say that never has western power been a mass on russia western board borders as it is today Germany Invasion so russians are in high anxiety. Their Nuclear Weapons are on high alert. We are going crazy defaming anybody who says shouldnt we debate or think this over . And it is really dangerous. Stuart so do we open a u new relationship with russia under a President Trump . Byron york is with us, this is an opening is it not to a new relationship with russia . Im not so p saying whether im in favor of it or not but saying that the situation suggest an opening. It does. Actually if you were to listen to some democrats speak you would think that russians were partying and happy over the arrival of their new puppet, donald trump that give use an idea of some of the kind of neocold war are the rick weve been hearing lately. I do think dont use the word reset but any new era in relation will have to wait to find out what happened in the election as you know president obama has ordered an intelligence review of russian attempts to influence the election. To be finished by the time he leaves office on january 20th, ive tacked to republicans who are very skeptical of those results before we even know what they are. I think theres going to be a continued debate over just what russia did, and perhaps more importantly what it was intending to do. So i think thats kind of got to get cleared up before any new age relation with russia began. Stuart as youre aware byron, the president elect has been filling his cabinet, negotiating with various heads of large corporations. Listen to what he said and what the boeing ceo said after a meeting with donald trump. Roll tape. Well, folks on the same thing here, make sure that we give the best capability in the world and that we do it in a way that is supportable for our taxpayers and business around that is excellent. Been a terrific conversation got a lot of respect for him. A good man and doing the right thing. Now theres an example of a corporate chief bending to the will of the future president of the United States. In principle bioron, do you approve of that is that what donald trump should be doing . Well, i think this is going to be a very popular thing from donald trump because remember, he met not just with the ceo of boeing at marlago but lockheed and the combat jet program just billions and billions in cost overrun. This is precisely what donald trump said he was going to do in the the campaign. If you listen to his spoach, he would say time after time wherever theres some sort of corporate outrage like ford sending jobs and a plant down to mexico, he would say im going to call up the ceo, ill be president. Ill really enjoy doing this. Hes done this with carrier and lockheeding and hes not even president yet but i guess hell continue to do it when he is president. Never seen anything like it before. Thank you so much for joining us david new to our program this morning, and good wonderful to be here. Can i say one thing about f35 two years ago it was 163 billion dollars overbudget seven years behind schedule, and it is going to cost taxpayers twice as much as sending man to the moon. This is the program that donald trump got lkheed martin to bend on yesterday two years ago and hearing from liberal democrats about how military complex cost too much. President obama had eight years face and he didnt. Address the principle real fast. Do you think that the president elect of the United States should be jawboning ceos like this . Absolutely. Absolutely. Liberals have been saying that should happen to the pent begun they havent done it. He will. I agree and jack earlier on the program and Health Department worry about the ability that, you know, president obama had done this. President obama did not do this all he did was issue executive orders and get try to get laws changed. This is a guy doing business teals. Negotiating. Conservative guys here onboard with jaw is boning ceos i never thought i would see the big day. Down 25 points look at market scan, more losers than winners on the big board. Yeah were still waiting for dow 20,000. Still waiting. And any day now, market watcher scott martin is with us who id by the way on videotape, 20,000 by new years. Well thats not a very tough forecast to make, is it . Scott martin. I have time left stuart. Not to be con fusees requested christmas because thats probably not going to happen but i do think next week theres going to be some low volume trade which means that market can be easily moved arranged and i just think that overall enthusiasm into the end of the new year will take 20,000. What happens in january is . Maybe new tax proposal on the board, and investors come in to sell things theyre reluctant to sell had year because of better tax situation. What do you think is going to happen . Stuart i want to know, what do you think because weve got virus who are saying well shall i get in or shall i sell now . Tell them. What do you think is going to happen . I would wait for a pullback especially if youre looking at some areas that are really hot which i still do like longterm and specifically those are financials, industrials and material stocks so me myself if i have new money that im looking to put in that area i would wait for a five or six or 7 prkt pullback because i think were going to get one. Market is overdone here and ahead of its and go up longterm. But i think theres a shortterm pullback looming. Got you. Mr. Martin thank you very much for joining us well see you probably before new year, see if you have it right. Good stuff is, thank you. Klly ann conway taking a white house job in the Trump Administration her role counselor to the president. Conway said she took the job because the Trump Administration is friendly to women and families. Businessman stalling this 85 foot Christmas Tree in the middle of baghdad. It cost about 25,000 that is meant as a symbol of solidarity with the iraqi christians. I like that. More varney in a moment. Every dr with a healthy smile. Start yours with Philips Sonicare, the no. 1 choice of dentists. Compared to oralb 7000, Philips Sonicare flexcare platinum removes significantly more plaque. This is the sound of Sonic Technology cleaning deep between teeth. Hear the difference . Get healthier gums in just 2 weeks vs a manual toothbrush and experience an amazing feel of clean. Innovation and you. Philips sonicare. Save now when you buy Philips Sonicare. Stuart that doesnt make any spine tingle it is Christmas Music but it doesnt uplift. Its kind of smug and dont like it. Doesnt offend anybody. Sleigh ride. Get it off my air. Merry Christmas Everyone. I dont have got three days to christmas day. Come on. [laughter] check our big board actually it is market scan where are we . More losers than winners, dow at many moment down about 20 points. How about lower profits at bed bath and beyond, why . Well, theyve got less foot traffic. Very important point here. Online selling is killing the brickandmortar people that stock is it down 5 . Con agra up but stock sup a nice 2 if you dont know they make slim jims loaded with fat banquet frozen meal and Peanut Butter from pert pan they make it up 2 . Go pro what a loser this year, down 50 pop this morning, 4 up go pro at 9 a share. Just moments ago, Angela Merkel germany chancellor held a press conference, obviously, about the berlin terror attack what did she say . Minister was there and say they have Additional Information that the suspect in berlin is, in fact, the perpetrator because there were some question about that. He said, they have evidence that was in the trk cab because he left his wallet there. That makes you wonder was he a typed crook or did somebody plant naftion as one or the other question being asked but Angela Merkel said they hope for the ace soon. Theres 100,000 bounty on his head. I believe his family, has asked for him please, give yourself up. I believe the family father is talking to authorities right now. So at least, at least the families involved. But the fact that hes still in europe and not caught is incredible. The question that we have to answer did he get welfare money . Remember the terrorist they received over 50,000 of welfare checks over their time in europe. But you said something stuart, he could be anywhere in european because of the open borders. I think Angela Merkel lost big time with this incident. Absolutely next case. President elect trump speaking about christmas terror attack he call it is an attack on humanity. Watch this. [inaudible] 100 with us trump Foreign Policy advisory welcome back to the program. Ive been saying for stiement and ive said it again today that in my opinion and it is an opinion muslim terror has ended, broken, the european union. Am i gong too far . Youre not. Let me say first and foremost that i served advisory of the campaign not in transition today but let me address this ise is that the jihadist will have penetrated basically the imraints or migrant or speakers are now a problem. I mean changes color chancellor merkel appeared on tv right now and far hope is to catch him. Far hope of this operation is to catch him not even to look fat dismantling this network of jihadist across europe so i agree with with you, youre not farfetched here. Stuart okay, what about sanctuary cities in the United States . President elect trump is talking about withholding federal funds to those cities which insist that they are sanctuary cities, is that part maybe of the antiterror move . Part of it is. But then you have a much greater point been made during the campaign, of course, now transition into the next administration this is serious component there will be resistance by those who support it so along line of what we can see, this will be one of the headlines in next month to come. Im sorry to cut this short and i do apologize for that. But thanks so much for being on the program today. We do appreciate it. I want to get to the big board because were coming back towards a breaking situation. Were down just 12 points. Okay were still 70 odd points away from dow 20,000. But hope springs eternal may be well get to the point where i can use the fancy graphic were somewhat away but close. Dangerous smog in china unprecedented levels. 460 Million People live with that. Schools closed hundreds of Flights Canceled mog is so bad in some cities chips could not come into dock an cant see where theyre going. That is smog. President elect trump said to be considering a 5 tax on goods coming into the country. That is trumps opening bid in what is, obviously, a very different approach to trade, is it not . New video from the deadly fireworks blast that occurred in mexico on the right hand side of your screen you can see the explosion as is it happened on the left hand side of your screen you can see the aftermath. It was an open ire fireworks market very popular place. Boom went off 32 people died. Many more injured. The cause we do not know but be terrorism has been ruled out. But drama there in mexico. Look at the stock price Weight Watchers, up on otherwise down day. Look 15 up. Oprah winfrey launched an ad campaign a reveal that she lost more than 40 pounds. Joining Weight Watchers and shes got a piece of the action the stock is up 15 just like her. Shes up, down that is cruel i know. But thats true. Ill laugh at you when you put it back on. President elect trump said hes considering paris on import what cools into the country hes kiering top 5 . On everything comes into the country, and the only thing about this is that the market could trade on the rumor but yoang thats going to be the news. I think this is as you said earlier this is his opening bid art of the deal this is where hes starting. J if we really thought that he was going to put a 5 tariff that would go down. What a perfection is i would hark back to Ronald Reagan we remember the years theres a piece saying Ronald Reagan protectionist. He had a 100 tariff he aflood to electronic goods from japan. Japan was back then what china is today. I was working editorial page and try to defend this tariff saying it didnt last long and got exactly the intended effect and Ronald Reagan turns the to be right. So protectionist tariff selectively applied can be very effective stuart wait a minute i have conservative guy on the show both of you say well it is an opening bid and not a trade war. It is okay. Remember you have peter hes a protectionist but wilbur ross commerce secretary youre going to have a Good Cop Bad Cop situation. Bad cop peter, good cop wilbert. People that are successful negotiating our trade deal invent a bureaucrat that live it is in the wing waiting in some foreign capitol. You do like trump as well. Face it. In this regard, yeah. Youre to be see a weather map of all of the cities in america which are expecting a white christmas. Now, if youre listening on radio i know we have satellite listeners these cities include boys boise, chicago, flagstaff, arizona, and thats pretty much across the northern portion of the country. Good stuff. More varney in a moment. Stuart this is stonehenge, this is england, my birth place. Thousands gather every year on this day to celebrate winter solstice. There is the sound it makes. We are still trying to get to 20k. Not there yet. Another alltime high for microsoft. Bank of america said it is going to maybe 75, morgan stanley, maybe 72. Yes, i own a tiny fraction of microsoft. What a company, ladies and gentlemen. This is interesting. The Obama Administration is officially ending a post911era Registration System for up grant men mostly from muslim country. It was started after 9 11 and its designed to register mostly immigrant men from muslim countries. And the Obama Administration hasnt used this since 2011. It scrapped the whole thing. Now they are officially ending this national entryexit system. Stuart is it donald trump or barack obama doing it . Obama. David he did use it up until 2011. Tom obama used it and there was a similar one jimmy carter used in the 1970s. President obama gets rid of that registry . Stuart pastor, you just heard this, ending the registration days before president obama leaves office. Your take on this, please. Its absolutely foolish. Its not grandmothers yelling jesus christ is great creating these atrocities. Its young muslim men yelling allah is great committing these atrocities. Stuart you are a christian pastor and you are saying there should be a religious test. If we have a region industry of muslims, you are comfortable with this as a christian . We are talking about people entering our country who pose a threat to this country. There is no religious test for running for office according to article 6 of the constitution. But there is nothing unconstitutional about this. We need to do whatever is necessary to protect tour country. I believe we have an incoming president who is determined to keep this country safe. Stuart i want to talk to you about the berlin terror attack. I said christianity and the judeochristian world is under attack. Some people take me to task for that. What say you . We are in danger from without and from within. An isisinspired group has called for targeting u. S. Churches during the holidays. We are under attack as christians. Then you have a Pennsylvania School that cancels a presentation of dickens a Christmas Carol because it says god bless you everyone. Stuart i favor a more muscular response from christian leadership. I want you to listen to what Cardinal Timothy dolan said about this. Jewish leaders are powerful. They are saying when are you christians going to start speak up . We jews learned the hard way. You have got to be forceful. You cant let up. They are reminding us that we have to be much more aggressive in defending the rights of christians. I think you said about the same thing. I believe that the department of Homeland Security said there is no specific threat tied to the holidays this year. Thats what they just came out and said. Your comment . Well, again, im reacting to what came in the news today. Our church we are always secure and have Armed Security guard there. But having said that, the bible said to god has not given us the spirit of fear, but love and a sound mind. And do not surrender to fear. Stuart stuart Merry Christmas to you, sir. Stuart if you have been watching cnn recently. I was a founder of cnn before it became the clinton news network. You know they have been very focused on one particular new study. This is the headline from cnn about the study. Black men nearly three times as likely to die from police use of force. That was the headline on cnn repeated frequently. Our next guest sharply critical of the study and cnn. She is the author of the war on cops. Whats wrong with the study . Its dangerous and irresponsible nonsense. Cnn has contribute to the climate of hatred the cops are experiencing in the streets that led to a 68 increase in gun murders this year. You have to understand crime rates if you are going to look at police activity. Cnn just looks at cops and compares the shootings to population ratios. They say cops shoot blacks three times the rate of whites. Blacks commit homicide at 8 times the rate of whites and hispanics combined and 11 times the rates of whites alone. Blacks die of homicide at six times the rate of whites and hispanics. But when you have those times of Violent Crime disparities, they mean cops will be called almost exclusively to minority neighborhoods when there is a senseless driveby shooting confronting senseless, armed suspects who are almost exclusively in americas cities, minorities. Stuart technically its across rat. Mathematically accurate. But they miss the whole context and therefore blurred whats going on. There is no excuse for cnn to be promoting a study that ignores the most basic element of police activity. There was no need to pull this study from a relatively obscure medical journal. We have seen the largest oneyear increase in homicides in nearly half a century. Why . Because cops are backing off of proactive policing in highcrime areas because they are encountering so much hatred and violent resistance. Stuart do you get hate mail. I do, sure, of course. Stuart what you are saying is so diametrically oppose to the narrative in our media. I imagine you take hell from this. It supports the many lawbiding residents in highcrime areas to beg the police to clear the corners and restore public order and get the drug dealers off the streets. Black lives matter, thats what you put up with with this level of animosity. But its mendacious. Thats what i have to insist on. Merry christmas. Stuart christmas is just three days away. Lots of online ordering. Adam shapiro live at an amazon fulfillment center. In one hour, if you pay 7. 99, guaranteed onehour delivery. If you are a member of prime. When the stuff comes in its pue this device to find everything from soup to sugarfree juice. I mean, its everywhere. Tens of thousands of items from all over the place. But they actually agree gait what Shopping Patterns are inner area. You can order just about anything from ice cream to plasma tvs. And, stuart, this is for you. Lovely. You with a tiara. It would be great. Stuart onehour delivery for 7. 99. Adam you can order up to 11 30 Christmas Eve and it will be delivered by 1 00 p. M. We have the latest in a long list of hoaxes like this coming up. Because its christmas we are about to show you a video of a panda who lives in the toronto zoo. Here he is playing with a snowman. He climbs on top. Look at that. Hes flying the snow. Well be back. [ ] tom dana white sold ufc. Stuart you know donald trump. You know him very well, and you spoke at the Republican National convention. Hes a deal maker, isnt he . He is. Hes a deal maker and hes not a bad guy. There are a lot of misconceptions about donald trump. Hes a guy at a time when he didnt have to be. Hes been supportive of me. When good things have happened to me in my life he has been there and i have a lot of respect for the man. Stuart a rough and tough guy. Hes a guy whom i believe will get things done. Stuart please, please, this last christmas by wham. Get this off. Play me some veal christian music now. Hallelujah stuart yes. [ ] hallelujah hallelujah stuart doesnt that bring tingles to your spine tom the house was packed and nobody left forward 2 1 2 hours until they heard hallelujah. Stuart i think we better move on. Eating up precious time here. Check out the big board. We are down 24 points. Reports of hoaxes related to trump. Look at this. Mississippi, a fire at a predominantly black church, words vote trump found stray painted on what was left of it. One of the parishioners has been charged with arson. In michigan a Muslim Student claimed a Trump Supporters tried to burn her hijab. She made it up. What are the penalties for this kind of hoax, saying this kinds of thing . Starting in michigan, that university of michigan student is looking at up to four years in state prison for reporting a false felony crime. If its a felonynd you falsely report it, then its a felony. And its disgusting because the common denominator is it was quote trumprelated and we know that was a big fat lie stuart that youngster in mitch gains not going to go to prison for four years. Thats just the threat hat hangs over that person. Thats the maximum incarceration. Somebody has to actually enforce these laws and have penalties. Think about how much time, energy and sentiment went into trying to find and prosecute the people who allegedly did these hoax crimes. Stuart but there is something such as a hate crime and people are assaulted for whatever reason. These mosquitoe these hoaxesy make the real thing more difficult to prosecute. It diminishes from the true victims of these hate crimes. There is something called ethnic intimidation. Unfortunately it ends up making everybody be colored under this concern. Stuart president elect trump has named Kellyanne Conway as his president ial counselor. I would say to everyone, i dont want him to be creamed. But i dont play golf and i dont have a miss stress, so i have a lot of time that a lot of other men dont. I think men on the weekend spend a lot of time with their golf games. But the kids will be with me. We live in the same house and they come first. Stuart katie one heard that, would you care to respond . I have less time than Kellyanne Conway. I do play golf but i dont have a miss stress. Good for her for saying whats on her mind. Strur im glad you are on this program. Thank you very much indeed. Merry christmas. Dave, you have something to add on this . David it will go down in history as one of the classic lines. Stuart am i going to get a classic line from you at 4 00 . We have a great show lined up for you. Thank you for allowing me to promote it here. The march to dow 20,000 stalled. Our coverage of that event extensive. Our viewers have something to say about it next. Hey nicole. Hey i just wanted to thank your support team for walking me through my First Options trade. We only do it for everyone gary. Well, i feel pretty smart. Well, were all about educating people on options strategies. Well, dont worry, i wont let this accomplishment go to my head. Im still the same old gary. Wait, you forgot your french dictionary. Oh, mucho gracias. Get help on options trading with thinkorswim, only at Td Ameritrade. Stuart the dow at 20,000 within reach. We had viewer reaction. Please let the dow hit 20k during varneys show so he can use his fancy graphic and he cant wait to share it with us. Paul says have you ever thought of work for sotheby as an auctioneer . Any buyers . I wanted it to hit 20k and it didnt. The last one is from timothy. I hope and pray one day you will come to understand that money isnt everything. And a temporary bump in the economy does nothing whatsoever to Start Building longterm strengths. I know that money is not anything. Money is the source of all forms of evil . Isnt that from 1 timothy . Money is the root cause of all forms of evil. And money is not everything, but well be back. Stuart at the risk of sounding like a broken record. You have never seen anything like this beforeim talking abot president elect trump and how hes handling the transition to the presidency. This is the most conservative cabinet in a generation. Its jammed with successful people used to managing on a grand scale. You dont see any academics. Trump is conducting business. He negotiated jobs with carrier, softbank, the cost of the f35. The point is hes doing it now. Lastly. Energy has changed the nations mood. This is a cando country. We can do tax cuts and cut regulations and investors believe we will grow the economy, thats why the stock market has soared. You have never seen anything like this. The third hour of varney and company is about to begin. [ ] joy to the world the lord has come stuart i accept that as Christmas Music on varney and company. Will we get any joy on the dow industrials . Its an irrelevant question. Will we get it now, today or tomorrow . Thats not relevance. Is this rally going to continue . Thats my real question. Your answer is . I dont think so. But i dont think it will be a bear market. I think its comparable to what happened with Ronald Reagan. You had the market rally almost the same exact amount. November 28, it was 8. 5 percent of rise. It took 18 nos for the market to hit that again. I think president elect trump has a congress thats easier to work with. The fed ease yesterda fed ea. Stuart if we see real signs of growth and extra profits, then we might resume the rally later on . Thats what you are saying . Yes, sir. I dont see a big dip. But i think the market got ahead of itself. Im still 85 invested in the stock market. I think we have to see some type of pullback until those structural forms start taking place. But if you make it taxes retroactive to january 1 of 2017, i think well see that. Stuart i know you are not buying stocks yourself at the moment. But if someone did want to get into the market. Go through it briefly. Which ones first . I love verizon. I think its a little bit too small. When you look at what at t is doing, trying to buy a huge media con grom rat. Thats how you plate broadband and the content play because you are buying the train tracks. Also with the Corporate Tax reform coming. Companies make most of their money in the United States going to see 0 cents out of every dollar they earn going back into the company. Verizon you like. I see home depot . Verizon has a 5 wield. Home depot is another one its not taken off with this rally. I dont think you will see a lot of homebuilding but you will see infrastructure spending. President elect trump has mentioned thats one of the first things hes going to do and that will benefit home depot. Stuart flow tech, i know you like the. Tell me what it does. This is the most risky out of the three. It has an environmental fracking fluid. If you look at what fracking can do. The monterey shell in california alone would wipe out the california debt if they were to allow fracking. We have an environmentally friendly president. But you want to see environmentally friendly fluid. Stuart flotek, a fracking stock. President elect trump named pete for navarro to lead the white house counsel. Douglas, mr. Navarro wrote the book death by china. There it is. And hes the guy who is going to take a big role in our trade policy. Does that worry you . Trade war . Here it comes . I think this is a work in progress from two perspectives. Hes a very bright guy, and hes saying we dont like chinas conduct. And then i have a different set of tactics that will be effective in getting china to live up to its international obligations. A guy who wrote that title, its provocative indeed. Hes been given a title, but he doesnt have yet any real responsibility. Its not like the department of commercial which has the responsibility for certifying exports. Things like that. So with the title comes the obligation and the work has sort of generating the ability to execute. Thats something we need to keep an eye on. Stuart the president has tapped billionaire investor carl icahn. My impression is icahn doesnt like doddfrank. Every white house needs someone in the west wing who wakes up every day worried about the regulatory state. The agencies exist to regulate. You have to keep an eye on it. No matter how dedicated the white house is to deregulation. Someone has to make sure the execution takes place. It wont be just doddfrank. It will be across the board. There is a lot of underbrush that needs to be cleared out. Do you feel Incoming Administration can do it . You and i have known countless president s who say we are going to cut that red tape and make government really work for the people, and it never happens. Is this really a different time . So there are three things that you can do. The first is executive orders, and president s do that. The second and hard were one is new rule making to replace or eliminate bad rules. Thats where you need someone staying on top of the process because that takes years. And the third and interesting opportunity now is you can do legislative reforms that change the regulatory state. Things like the regulatory accountability act. Make the rules different so you cant get a regulation out so easily. You were not always a trump guy are you warming to him . There is a lot of controversy about some of those positions. 80 of what donald trump is proposing is in the mainstream of conservative Economic Policy and the Regulatory Reform is long overdue. There is a lot of reason why people are excited about it and as you point out optimism has increased. Stuart you know washington from the inside. Am i going to get a tax cut back dated to january 1 . I dont know about backdating. The tax code that encourages production in the United States and growth in the United States, and thats whats going to happen. Douglas, again thank you very much for joining us. Merry christmas. Lowflying military planes and helicopters spot over midtown manhattan. It worried a lot of people. Turns out they were part of a Training Exercise on how to safely airlift president elect trump out of new york city if there was an emergency. The aircraft looped hour midtown manhattan for 40 minutes. A Training Exercise in case they needed to get there trump out in a hurry. The Christmas Market in berlin where the horrific attack occurred. Concrete barriers are blocking the entrance where the truck came in. They call it a sign of defines where they reopened it. A very important guest, van hip basically used to run the army. He says he has six ways trump can keep us safe against terror. We want to make sure we do pour work in way thats affordable for our taxpayers. Report thats the boeing chief who met with mr. Trump earlier. Boeing promised to cut the cost on at least one military project, the air force one plane. Boeing and Lockheed Martin are down just a bit this morning. We have never seen anything like this before, at least to my knowledge. We have never seen a president elect or a president strong arming the ceos of major corporations and telling them, come on, shape up. I have never seen this before. Do you approve . It doesnt matter if i approve. The voters love this. But indianapolis direct conflict with the thinking within mr. Trumps party, the Republican Party its not conservative for the government to intervene in the market. I mow the president elect has been trying to get to other companies as well who have not respond. I call this donalds deal of the day where he likes to come out and have a victory. He likes to negotiate contracts, we know that. And i think he will be good at bilateral trade agreements. Hes making republicans very nervous of by strong arming private companies and the general approach which is not an Economic Policy codified by statute that applies to everyone across the board. Stuart if you ask a republican what is republican Economic Policy, the answer today is very different from what it would have been six weeks ago. Because trump has changed the economic baseline of the Republican Party. This is why its causing them so much tension. As you know, i spoke to them about this, and they are being awfully quite. There have been some hints these numbers might add up. Military spending, a deep tax cut. These are all spenders. No Immediate Care reforms. The hawks within the conservative fiscal hawks in the house and senate are nervous about having a clash with him as they approach tax reform. They will come together on regulatory relief. But where do you find the money for the tax cut while you pay for infrastructure, and really this tariff policy emerging is making them nervous. In the interest of a honeymoon they are keeping their lips closed. Stuart mr. Trump has gone over the heads of conventional have you cans. Look what i have done, i have got jobs from carrier and softbank, i got a lower price for air force one. Thats carrying the day. I have got to get one more thing in, a. B. This a headline from the a. P. , the headline reads economy healed under obama, but unhappy voters chose trump. What do you . I think its understandable. Americans dont feel better. Obama can be credited with a much better economy than he arrived with. Unemployment is low, stocks are high, Consumer Spending is good. These variables can make people feel good. And thats what Hillary Clinton was trying to run on. And you heard obama try to take credit for in these final days. But people dont feel better. They have stagnant wages that dont pay for college or healthcare. Stuart this will go on for four years. The media does not like mr. Trump and will poke holes in him at every opportunity. Thats not going to change, is it . Tino everyone has problems with the media. I know in trump has problems with the media. I was tough on obama, i will be tough on mr. Trump if he doesnt fulfill his promises. The media is heard on republicans. But hes going to be expected to run an earth cal and transparent government. Stuart you just dont have to take him literally. I disagree with that. I think president s should be taken literally. Thats a serious obligation of his. Stuart do you think well get to 20,000 on the dow industrials . Yes, i do stuart are you a financial type . No, i have just watched way its doing. Investor class loves trump. They are making him a little nervous and markets are nervous the night before a tweet might be coming. But so far the numbers are looking great. Stuart a. B. , Merry Christmas. I want to show you this weather map. All the cities on the map are expecting a white christmas. Boy see, chicago, denver, reno, nevada, flagstaff, arizona. Snow is on the way up there. In geneva, wisconsin, jeff flock on skis. Watch out, world. See me. See me. Dont stare at me. See me. See me. See me to know that psoriasis is just something that i have. Im not contagious. See me to know that. I wont stop until i find what works. Discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. Proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75 skin cleance at 3 months. While the majority saw 90 clearance. Do not use if you are allergic to cosentyx. Before starting, you should be tested for tuberculosis. An increased risk of infections and lowered ability to fight them may occur. Tell your doctor if you have an infection or symptoms. Such as fever, sweats, chills, muscle aches or cough. Or if you have received a vaccine or plan to. If you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. Serious allergic reactions may occur. See me. See me. See me. On my way. Find clear skin. And a clearer path forward. For a different kind of medicine, ask your dermatologist about cosentyx. Stuart a long winter last year. The ski resorts had a tough time. I believe its a better year this year, jeff, right . This is incredible. This year we have had snow, cold, they have a huge base out here. This is amazing. Im skiing with an expert in case is crash and burn. Last year you said you were mowing grass this time of year . This year we are in better shape. I skied three times in my life. The numbers have been down but thats largely weather related, right . We are weather dependent, but when its good conditions, everyone comes out. Reporter that is dutch behind the camera. Be careful. I just sent him into a tree, oh, man. Stuart i do believe the cameraman had a small accident. I hope hes okay. You try to ski backwards with a camera on your shoulder. As you said, tom, you try skiing backwards with a camera. Not easy. Well be back. The gentleman who momentarily will be walking count hallway coming into our studios, senator pat toomey, republican from pennsylvania, recently reelected. Hes leading the charge to save us taxpayers billions of dollars. Hes a welcome guest. He will join us momentarily. [ ]. Feature into zero dear, we have slipped below 19,900. I guess the run up to 20,000 is down 43. The price of oil still hovering around 52. Nearly 53 a barrel. John hofmeister, former shell oil president. I sense the market is about to move below 50 bucks a barrel. Convince me that im wrong. If it does, stuart, it wont be for a month because all of the Capital Investment cuts that have been happening over the last couple of years are going to make themselves well known is beginning to 2017 and even if demand stalls further, i think we are still going to see production reductions. They cant continue at this low price. Stuart what about american crackers and american producers . Are they gearing up in ramping up about 50 bucks a barrel . They will bring new product on stream, arent there . Yes, other parts of the u. S. In other words, the recovery is not happening all across the oil patch. Its only happening in a select few areas of texas right now. A little bit of north dakota. Pennsylvania, ohio, et cetera, not a major expansion. Other locations in the gulf of mexico is simply the status quo. The recovery is much more slowly fellow. Stuart president elect trump says he will restore the incentives for clean coal. You know about this. There is no such thing as clean coal, is there . They go back to the fundamental molecule of a fossil fuel and they are constantly opposed to it because it represents a fossil fuel. They see it as needing to decarbonized the earth by eliminating fossil fuels. In that regard they dont like natural gas or oil either. They are more tolerant because people need it to live their life. It is very possible to clean up. You can clean up my name more than we have. Clean up our use coal. You can actually change the molecular structure of how coal is used to make energy, buy gas to find coal instead of burning coal. Stuart at the comparative price. Can he do a Competitive Price . It depends what time. You are looking not appeared in my book, ive written a whole mechanism as to how you can actually increase the technology deployed while reducing the net cost to the users of electricity. But it takes a 30 year period to think through it and it takes the changes and yes it is possible to do it at a Competitive Price. Stuart just dont count any fossil fuel out of her energy makeup in the United States. John hofmeister, thank you for joining us. We will see you soon. The dow industrial hovering right around the 10,900. Yes we are on the 20,000 watch. I doubt we will get there in the next 20 minutes, so were not going to use that fancy graphic we paid a lot of money for. Our next guest is leading the charge. To cut government regulation. Pat to me, Republican Pennsylvania is with us. You are going right after doc frank, arent you . Its doing a lot of damage. This is a legislation very badly can need in the first place. It codifies this category of financial and additions as too big to fail, creates a mechanism to require taxpayers to bail them out if there is another failure. Cf. Pb is a completely unaccountable out of control Agency Deciding what kinds of Services Customers are permitted to engage in. Its a disaster. By the way its been devastating for small banks. Trade to small banks, community banks. America and a launcher country longer lunches start a community banks. Stuart since donald trump was elected, bank stocks and i know viewers know this very well, have gone up very shortly on the expectation doddfrank would be amended or repealed. Do you want to sleep the whole thing away and replace it with Something Else . Can you do that in a time frame . Actually asked, i would get rid of the whole thing. You could argue the part that deals with derivative clearing is probably fine. The fundamental problem here is what we shouldve done is make the the changes in the Bankruptcy Code so when theres a failure of a financial institutiinstituti on is resolved in bankruptcy rather than through a bailout. That would be a fundamental thing i would do differently and having done not, as long as we are convinced we can resolve these firms in the bankruptcy context, then you dont need the massive overregulation prohibiting activities including profitable ones. The micromanagement of these firms by the government to very bad idea. Youre just writing nospace monstrous banks run right all over america again. The fact is all kind of Financial Institutions are cut up under the dragnet of doddfrank. I want to change that. I want to have a competition and creditors provide discipline but historically they have provided and that works in other industries. I think theres going to be some democrats interested in working with us. I think we are going to get a lot of it done. The First Six Months of the administration . Are disabling. Stuart one last one. The president elect donald trump is strongarming the ceos of some big corporations at boeing, Lockheed Martin. Do you approve of that . Mainstream republicans dont like the idea that a president going after corporations. Im not sure strongarming is the best way to characterize it. I do believe this. Im pretty sure president elect trump understands the way we are going to change this economy and create opportunity and growth is not one company at a time. It will be creating an environment where people want to invest and expand business. Stuart senator, thanks for joining us. It is thursday. That means its dan henning thursday. Wall street journal deputy Editorial Page Editor has got a piece as he does every thursday. I will read the headline. You wrote the headline. Yes, indeed. Michelles trump despair. Sub headlined, trump out hoped liberals who got it on the idea of political hope. Explain yourself. This is the Christmas Season so i thought we needed a column on hope and as it turns out, Michelle Obama and donald trump got introduced this week over the idea of hope in america politics. Michelle obama was interviewed by Oprah Winfrey and says we feel as though there isnt any hope any longer in the country. Hope is very important to people. Everyone took this as a shot at donald trump who himself said she didnt really mean it. That aside raises the question of what about hope in american politics. Every politician runs on the idea of bringing hope to people into the population. Theres a difference between the rhetoric of hope and reality of hope. Democrats are good about promising things. As Hillary Clinton did this is supposed to lift people up. We have listened to liberals and progressives on this program that will give us hope, but dont deliver on the reality of a prosperous economy or life. Switch over to donald trump, a businessman offering a different kind of hope in a very alternative, radical sort of way. That is the hope donald trump stole from the progressives. Trained to do you like the idea of President Trump going after the bowlines of this world, Lockheed Martin, just jawboning that, hey, knock it off, get the price down. Is senator to me said they had that these companies we have to come to grips with donald trump Standard Operating Procedures which is to say things like this, bringing people on the side of the head, get everyones attention and i think in private conversations are much different, much more sensitive about the details of the fighter or the white house. The opening bid is the final end of the deal. Its very unusual and for a president , saying things in public you doesnt mean in private is tricky. Can you figure out a way to negotiate a way through Donald Trumps world. Totally different from anything weve ever seen before. Breaking news on someone trump. Someone trump is getting on a flight with her three children and a man on the fly started harassing and yelling at her. Her father is ruining the country. Why is she on her flight pushing her she should be flying private. So ivanka according to the passengers totally ignored him. Jetblue apparently escorted this man off of the flight. An hour before this, the husband of this guy treated that ivanka and chariot at jfk flying commercial my husband chasing them down to harass them. Merry christmas. Stuart did that just happen . Interesting breaking us interesting breaking as the got to say. Tanks are bringing that to us. I cant help but show me this again. Ive labeled these folks paid to messieurs. They are great gathering at stonehenge to celebrate the winter souls to come in the shortest day of the year and beginning of winter. Im being very pejorative. Pagan losers is what they are. President elect trump met with a dozen other top military brass yesterday to discuss ways to reduce costs, particularly the f35 fighter jet. Up next, the man who basically ran the army. The nuts and bolts of it. We will get his take on mr. Trumps meeting. Also has advice on what he can do to keep americans safe from terror. First, here is that mr. Trump said about the berlin attack. [inaudible] its an attack against humanity. Thats what it is. I am Nicole Petallides with your fox business brief. Narrow trading range moving 48. 57 volume year on wall street. Growth of 3. 5 . That was higher for gdp. Keeping the dow on the downside down arrows would include walmart, American Express and apple and gnocchi and now a number of lawsuits against the apple maker, iphone maker to the downside. But the representative looking at alibaba market and putting this one on a worried list about their credibility for that one. At t has an app called protect in the robocalls no doubt 20,000 today. At Td Ameritrade we believe the best investments are the ones that matter most to you. Stuart holiday travelers may be helping set a new record. 103 million others will travel from christmas to new years. The highest number ever about 1. 5 million more than last year. Germany, video of the suspect a terrorist, they still have not found him by the way. A migrant who was previously investigated for ties to terror. He is still on the loose. The Christmas Market, the scene of a terrorist attack has reopened today. New this morning, the Obama Administration is officially ending a post9 11 era Registration System for immigrant men from mostly muslim countries. But this all about . It is called the National Security entry exit registration. Its been years from 9 11 up until 2011 and thats been the Obama Administration did not use this anymore. Before he goes out the door, before he hands out the keys to donald trump, he is scrapping this Registration System that has been in place but not used since 2011. Train to the top of the muslim registration and as mr. Trump will do it. Its been on the books throughout the Obama Administration in the use day. He has the president ial power. Stuart Fascinating Development right before the change. Inc. Cindy. I want to bring in someone who knows about this. Former Deputy Assistant secretary of the army, then. Welcome to the program. The Muslim Registry i didnt know was on the books. President obama just ended it just ended a period when do you make of this . We have seen in germany we were reminded of the hard lesson when he put out a welcome mat. Refugees from every known terrorist hotspot. Stuart its a disaster in europe. We need to secure the borders. Trained to do you want a Muslim Registry reimposed enduse . Absolutely. Heres what i would do. I say muslims, whether, if its a known terrorist hotspot company should not be coming into this country. Weve got to do that. Are you going to look at the moscow washington d. C. They went on to have al qaeda in yemen. The forte terrorist went there. One person had come forward with actual intelligence, we couldve saved some lives. I called for a rewards program for moderate reformed muslims. If you encourage them to come forward, with we can save a lot of lives. Youve got two things here. A registry of people coming into the country from terrorist hotspot mostly more strong surveillance of mosques. Or taking a very hard line. I am calling for a reform of moderate muslims who see something going on to come forward. Im a big fan. I first met him 20 years ago with the checking and special forces. King abdullah has called this world war iii and he has called it a war within islam and kenya doll is right. We need to work more closely. Stuart hold on come the left says by saying what you are saying, you play into the hands of a fifth because you are victimizing them. They can recruit on that basis. To 9000 people were taught illegally coming into this country in 2012. Many had middle eastern names have changed into hispanic names yet they know how to get them there. That is a tough guy. I want to protect American People appear thats why we have the federal government. Stuart look at the Lockheed Martin. Im not quite sure how to put this. This is the interview president elect trump. Do you approve of that . I do. You cant do this every time. Weve got to have the tree without bankruptcy. We need to reform the procurement of loss and the pentagon were contractors are encouraged to come in under budget and ahead of schedule and we can do that. I would take the Previous Service secretaries and the Director Office of management and budget. Lets look at a perspective contract system for the pentagon. We can save lives and save money and improve the readiness, which is at an alltime low. As i i understand it, president elect trump wants to bring an ebusiness oriented manager at the number two defense department, for example. Homeland security or a business person has knowledge of how to get the cost down and make it more efficient. I like that. The person has got to be careful not to be coopted by the federal bureaucrats. Ive seen this movie before. They know how to do it. Stuart we are federal bureaucrat . I didnt have white hair whenever the mobilization. Stuart thanks for joining us. Merry christmas to you. Now this. We had jeff flock on earlier. He was skiing the slopes of the grand geneva ski resort. The cameraman took quite a spill. We are going to check back with him. See how they are doing in a moment. Yes, we will be back. Believe it or not, that touch behind the camera, be careful, buddy. I just took him into a tree. Stuart ladies and gentlemen, i do believe the cameraman had a small accident there. I do hope hes okay. Lets see, shall we . Jeff flock, tell us, please. You know, we always try to push the envelope a little bit. Sometimes you crush through the envelope. He is very proficient upper talk of the empty backwards at the same time, that he put a piece of gunmen before the broadcast and i think that was one over the line. Can you show them your all right there . Areas. Very proficient fellow and still living to tell about it. Over this cliff is where he might, by the way. He went right down over that side into these trees. Okay. He was going backwards. Smart enough to go forward. Trades are interesting enough. That was quite something. Jeff flock, everyone is well. Earlier we told you about ivanka traub harassed on a jetblue flight. The passenger was removed. Jetblue has issued a statement. This is on the ground at jfk. Jetblue said the decision to remove the customer is not taken lightly if they cause conflict, the customer will deplane if the crew feels the situation runs the risk of escalating during flight. Off that person goes. The husband of this guy earlier has been identified as professor there you go. The edge indicated people out there. Apparently the man on the plane was screaming at her. Ivanka and her children were there and did everything she could to try to ignore them but it was impossible. When you start screaming and yelling, youre going to be taken off. Quite rightly so. They created the mass about being escorted off the plane. You can see the background and the passengers all get rid of them. Train to nowhere near 20,000 on the dow. We tried, we failed. We will be back. Stuart the president elect communicates via two, twitter, he sent out a new tweet and it is a big deal. It is getting reaction. He says the United States must greatly strengthen and expand its Nuclear Capability until such time as the world comes to its senses regarding nukes. Stuart United States must greatly expand its nuclear capabilities. That is quite a statement on a tweet. Usually we are negotiating getting rid of nukes, donald trump is suggesting we have more nukes until the rest of the world comes to its senses. Stuart im having a hard time keeping pace with the daily development, yesterday there were several developers, today we have this one just coming out moment ago. Really an extraordinary thing. We started by saying we have never seen anything like this before and that is true. It is yours, neil. Neil i am thinking of this we say we get to doubt 20,000, but donald trump promises more nukes so we are all alone up as we are counting our money. Stuart have you become a leftist all of a sudden . Neil just worried. You dont seem to be. Stuart you are not a worrying kind, get out of here. Neil a lot more we are following, i am thinking about that. In the meantime, i dont know if you got your Christmas Shopping done. I am always late at these things