Melissa francis and this is after the bell. Joining us for all the major market milestones, gerri willis from the floor of the New York Stock Exchange, phil flynn in chicago, forbes media chairman steve forbes. Barrons Senior Editor jack hough, financial analyst heather zumarriaga. Gerri, you are up first. Who are this years biggest winners and losers. There is pandemonium down here i barely hear myself think. The winners, boeing, caterpillar apple, and losers ge, we talked a lot about that company. Ibm and exxon. A lot of difficult sectors on winning side and losing side. The winning sector of course as you expect, 37 gain for technology. Those stocks doing really well and really the sector outperforming everybody else. The lagging sector, no surprise, telecom down 5. 7 . Youve seen the companies in this sector, verizon, a number of them are heavy with debt. Theyre constrained by all that they owe. Incredible competition in their sector. So lots of moving parts today, lots of excitement on the last day of trading on the floor of the New York Stock Exchange. David gerri willis, thank you very much. Big year for commodities. Oil settling at highest level since june of 2015. Gold back over 1300. Best year s it been a food end of the year, that 15 in year bad performance for u. S. Dollar. When we talk about oil it is a great story. It is all about global demand. One of the reasons were seeing oil prices really come back at the end of the year because the Global Economy is on fire. It is being led by the United States and that is going on around the world right now. Were seeing supply of oil tighten up at fastest rate in history. Well see a much Tighter Oil Market in the new year. We havent had that for a long time. It is happening for good reasons. It is happening because the Global Economy is doing very well. Gold, silver, platinum, copper, they have a tremendous performance at the end of the year. That too is about a strong global economist. When i look at strong commodities prices im seeing optism in. I am seeing optimism for the new year. A lot of good pay jobs in the new year. David phil, thank you very much. Are ea. Lea here with me is heather zumarriaga and jack hough. There are 70 records for the dow, im surprising there wasnt confetti on the New York Stock Exchange with gerri. How catch credit can you get to President Trump . I didnt expect this quite much of a gain so the size of the gain is surprising. Corporate earnings are growing. How much do i give to the president . He didnt screw up anything important, put that way. This is long recovery, we have dozens and dozens of consecutive job growth. I give him a dash of credit. I expect this continue Going Forward first half of the next year. No reason to bail out of stocks. Prices are elevated, but theyre not crazy and no competition for stocks. None of the other Asset Classes look more attractive. Lea one thing im hearing about could there be a correction early in 2018. Steve you told me it is a good thing when you hear people are worried. Explain that. Emotions are the enemy in the market and when everyone feels the market is going to go up, you know it is not going to do so. When everyone has caution about the market. You see a lot of caution today that is a good sign, you dont have giddiness you normally get at the height of a bull market. The fact that people are cautious is very bullish sign. The fact we have now have low Corporate Tax rate and give more than one dash of credit to President Trump for this. The deregulation movement, i think it is really getting some deep roots in various parts of the government that is longneeded. Burdens as you know, burdens come from regulations. They are a virtual tax. As soon as we get the regulations removed as theyre doing that is give lent of a tax cut. That is also good for the market. Lea good for the market and the american people. What are the drivers heather, in 2018 as we move forward . I think gop tax plan will help earnings expansion across the board. If we see shifts out of technology into financials, more specifically the regional banks perhaps doddfrank reform, 30 of 36 banks being too big to fail may have loser lending standard if we get out from under some of that deregulation and red tape. I think energy also, the Energy Sector as a whole is lagging price of oil holding under 60 a barrel. Lea were talking about north korea and china not enforcing sanctions on north korea, President Trump giving indications he made get tighter with china comes to economics coming in 2018 . We have had anxiety about north korea for a long time. We do have to be careful about trade relations in china. We depend a great deal on them for our growth of u. S. Companies, Companies Like disney and gm and apple. So, we want to do our best to preserve trade relation there is. Lea should be exciting year. Thank you, panel. David waging allout assault against the president s tax law. New York Governor Andrew Cuomo is considering challenging the laws constitutionality and is taking action to help new yorkers avoid a new cap on state and local tax deductions. Fox businesss blake burman in d. C. With the latest. He seems to be at odds with the is on this, blake. Reporter he does, david. Some tax collectors not too far away from you are decided to keep doors open to accommodate last minute rush of homeowners deciding to prepay their 2018 taxes. Montclair county, new jersey, across the river from you at new york, they decided to stay open tomorrow. Here is the issue, new tax code takes place next week. Capses state and local taxes 10,000. Some are loading up deductions this year by prepaying the 2018 tax bill. However, irs says that can only take place if you pay before the calendar year and have 2018 tax bill. Many municipalities that havent made those estimates. Some feel this is headed toward litigation. In interview with New York Times, had democrats worked with republicans on tax bill there would not be severe roll back for deductions, state and local income taxes otherwise known as assault. Quote had they come to me with a bipartisan tax bill i would have gone to mitch and would have gone to other republicans we could have worked something out bipartisan and that could have been either a change to salt or knockout of salt. Now the president said, new yorks leaders were quote very ineffective. I never specifically mentioned Chuck Schumer by name but that was part of the implication. Speaking of new york, their governor who you were talking about, andrew cuomo has been an outspoken critic of this tax bill that will hit the books come monday. He called it unconstitutional because he says it targets blue states whose taxpayers are hit hardest by this 10,000dollar cap. The republican architects of the bill argue that is more than offset by lower rates. David. David blake, thank you very much. Lets go back to the panel. Steve i want to play for what you andrew cuomo said. There is lot to what he said and get your reaction. Play the tape. Im not even sure what they did is legal and constitutional, and thats something were looking at now. What does that mean . Why wouldnt it be legal to change the tax code . You can change the tax code. You cant penalize my state because of its political affiliation. There has never been a double taxation before in the history of the nation. All right, there is a lot david first of all there is lot to unpack there. There has never been doubletationization in the history of the United States. That is just not true. When you, when you tax investment or savings that is double taxation, right . Yes, it is, dividends and the like, absolutely. Even rip van winkle wouldnt have made that mistake, double taxation has been around for 100 years since we had the income tax code. That is one reason why you have all this constant fighting about whether we should even have a Corporate Tax because it does double tax capital. David so when he says it is anticonstitutional, if he is pegging on double taxation he is lost because they have already got double taxation and apparently wouldnt have it if it wasnt constitutional. Let me ask you about what the current tax law does, is that an constitutional at all . Absolutely not the 10,000 cap is for the whole country, not just new york state. And he is just, this is just a ploy. Gotten him a lot of headlines. He is running for president. Surprise, surprise. David absolutely. Heather, the onus is on cuomo and all other governors from high taxed states. That is what they dont like. They have to answer to their taxpayers in their states getting taxed too much. Youre right. If you want to reform tax legislation start at the state and local levels. New york pays some of the highest state taxes. So he may have to lower new yorks state tax. Not just up to the federal government to lower taxes for new york state. If you want to prevent residents from leaving your state to move to lowertaxed states like florida. So he is going to have to take a look in the mirror and work on lowering his own taxes. David jack, i want to move on to something that is very important concern to a lot of people out there, millions of Small Businesses are trying to figure out how the new tax law is going to affect them. There are different tax code, new tax codes, depending on how you define yourself as a Small Business and a lot of lawyers and accountants are having trouble figuring that one out. It will be a bonanza trying to cheat on their taxes in the year ahead, spoiler alert. David or just paying taxes, jack. You have to let me on the comment. David go ahead. He has to stop crying on this issue but he has a valid point. Averager spends 2400 than they receive. Average alabamaian receives 6,000. It is unfair for new york but read the New York Times today, expose about overruns in subway construction in new york, it will make you sick to your stomach. David i dont have to read it. I live it every day. Get lean quit crying. David so much money wasted in city. Mayor glass blast de blasio has increased budget 25 . Everybody wheres is going in subways are dirtier. Run rest on time. More people on the street. The point, taxpayers now in the hightaxed states are wondering where their money is going . Absolutely, david, one piece of history, governor cuomos father, mario cuomo had to cut taxes in the mid 1980s when Ronald Reagan cut the high tax rate from high of 70 to 28 . New york state at least for a while cut their tax rates. By the way Current Governor cuomo has been raising taxes. Now he is going to have to do what his father did, cut them back. That is justice. David let us hope, being taxpayer in new york. Steve, jack, good to see you all. Thank you very much. Have a happy new year. Lea . Lea the state department releasing thousands of workrelated documents from Hillary Clintons top aide huma abedin. They were found on the computer frommer estranged husband anthony weiner. David strange or estranged . Anyway, watchdog was instrumental making sure documents were released to the public. Chris farrell, Investigations Research institute will join us next. Lea he will comment on the president s latest comments on Mueller Investigation and calls of bias and in the department of justice and fbi. Investigation is only good as access to documents and witnesses. We need to interview to anyone with access to information and documents, frankly, jason weve been waiting a long time for it. Is this a phone . Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Lea the state Department Just releases documents from huma abedin found on Anthony Weiners documents. There was technical issues after the release we can no longer access these documents. Go to rich edson to break it all down. Rich, what are you hearing . Reporter good afternoon, lea. The issue are the government documents, huma abedins communications within the state department. The state department has to putt online. There as you mentioned is a Technical Glitch slowing up the process here. These were the emails found on Anthony Weiners laptop which created a buzz days before the election in 2016. President talking about the 2016 election and investigation into it, by robert mueller, the special council looking to any type of collusion between the russian government and the campaign. The president denies that in a 30minute interview with the New York Times. He take as pretty soft approach to robert mueller, softer than he has over the past few months earlier, he said to the New York Times, quote, i hope he is going to be fair. I think he is going to be fair. There is no collusion and even if there was, it is not a crime but, there is no collusion. He also pivots to Hillary Clinton and the tens of thousands of emails deleted off her account. New york times reporter asked the president if he believed the Justice Department should again look into the issue with Hillary Clinton. To that the president said, quote, what i have done, i have absolute right to do. What i want to do with the Justice Department but for purposes of hopefully thinking im going to be treated fairly, i have stayed uninvolved with this particular matter. This is an interview the president gave, tweeted a few times today on democrats and republicans getting together hopes for some legislative progress in 2018 but the president also invited some servicemembers from the United States coast guard to come golfing at the Trump International resort, spoke from the 17th hole just a couple hours ago, and opened it up for a fourperson scramble tournament. Thanked members of the coast guard especially for their work in the aftermath of hurricanes in texas and here in florida. Lea, david, back to you. Lea rich edson, happy new year to you. Reporter you as well. David here now to react to the newlyreleased huma abedin documents, chris farrell, Judicial Watch investigator of investigations and research. Chris, gone through a couple, hard to make sense of it because so much is redacted. I saw a couple of interesting headlines. One of which was a document going to the Prime Minister israel. There was probably secret stuff in there, no . You dont have to guess at it. Anything you see on the pages has marginal notation next to it, b1 or any reference to the little acronym or marker, b1, means it is classified information. So it is not even open for debate. It is a fact. The state Department Said it is so. In this case we have yet more classified information, funneled through huma abedin from secretary of state clinton on to her, now i guess estranged husband, the sex offender, anthony weiner. So this is a nightmare with respect to compromise of classified information. Yet another really Grave National security crime that mr. Comey apparently thinks is no big deal. Anthony weiners computer, considering what he was involved with, with that computer, lord knows where else it is or where else it could have gone . Guaranteed. With respect to mrs. Clintons email server, even comey as compromised he is concluded it was very likely, i would say virtually guaranteed any number of Foreign Intelligence Services not just russians and chinese but frankly any firstclass Intelligence Service whether the germans, the israelis japanese david or north koreans. We know they can do a lot of harm on the computer. Any of them would have wanted to know what was going on mrs. Clintons outlaw server. David let me switch if i can what is going on with the trump dossier because there is a lot of questions exactly who paid for it, who shared it with whom. Seems like a group of people at the fbi and Justice Department trying to sell it to all the trump enemies they could find before and after the election. Have you tried to figure out, to follow any email chains regarding the dossier . That is a major subject of one of our investigations but what is apparent senator mccain sent one of his deputies over, a guy by the name of kramer who is being subpoenaed again by the house intelligence committee. It seems mccain was a witting or unwitting accomplice to Russian Active Measures Campaign or influence operation because his deputy, this fellow kramer, came back from london after meeting with Christopher Steele and he went around washington, d. C. , also trying to peddle the same phony dossier. Now you have a dossier put together by an opposition, i like to call them opposition manufacturing, not research group, fusion gps, paid for by Hillary Clinton and the dnc. David right. Then used as leverage to get