Earlier, we saw that massive fire that engulfed a luxury burj right next to the khalifa. 15 people reported injured. One had a heart attack. The fire broke out two hours before midnight. Burning debris had been raining down. The dubaioned, authorities are saying that 15 people have been injured, 14 of them light in injuries. Thousands of people gathered, waiting for those fireworks in dubai. We will keep on top of that. We are now less than an hour away from the markets close. Julie hyman has a latest on the markets. Excited because there is suspense on the year to date are the year to your return. As betty mentioned, we are hovering near the lows of the session, lower than typical volume as we are in a holiday week. , the yeark at the s p to date, which we have been checking frequently, it is now in the red. Now, down. 4 . I want to check on apple as well. That is one of the stories we have been watching. We always watch apple. It is such an enormous company. But it has been underperforming the s p 500 and is set to have its worst month since january 2014. If apples going down, that is an issue for the overall market. It is down 5 for the year to date, worst year since 2007. Betty one of the worst years for crude oil . Julie not the worst. Last year, in percentage terms, were as worse than this year. A reboundare seeing of 1. 5 . It is down 30 for the year. Look at the heat map. The end of the year has been particularly problematic for oil the last few years. Here you have this years november and december, 10 declines in each. Here is last year which had even sharper declines at the end of the year. And then you had a streak of declines for oil prices. So that is two years of down oil, not only at the end of the , it has been particularly painful. Betty Ramy Inocencio has more from our news desk here at news desk. Ramy according to the telegraph, all 2000 Police Officers authorized to carry a gun will be on duty. An Intelligence Agency has warned that islamic terrorists may be planning an attack in a european city. Chinas Financial Capital of song i shanghai closed another year with dangerous pollution. Pollution hit seven times the recommended level. Back here in the u. S. , more than 8. 5 Million People have signed up for individual health plans through the Affordable Care act s governmentrun shopping market. The u. S. Has estimated that nearly 10 Million People will be enrolled in a ca lands by the end in aca plans by the end of 2016. A shakeup in ben carsons campaign. And there is a major shift in strategy for jeb bush. He has canceled planned advertising in South Carolina saving his campaign about 3 million. Bush is falling further in the polls. The nominating season is just weeks away. Betty thank you. Its been a year when many of us are making new years resolutions. We thought it would be appropriate to look at companies that could use some resolutions of their own. Lets check lets get off with chipotle. So far thismost 30 year. That makes it the worst performer in the s p restaurant index. So what can be done to turn around this company . Joining us now is jpl years jp eggers. Professor, it is not just to play not just to play not just chipotle. Dr. Eggers this is a big problem for chipotle because there advantage in the market was based on quality food and this repetition of a trust and a belief that the food had integrity. Intend toey mostly think about Sustainable Sourcing and ethical production. But many people can make the association with is it going to be right for me and will it keep my family safe . Betty that was there advantage. Before, there out isnt a lot of loyalty loyalty. the restaurant quick serve does not have real loyalty at all. Betty yahoo , i feel like this company i mean, every year we talk about when it will turn around. Is 2016 the turnaround . Dr. Eggers it does feel repetitive. Maybe this is the year we figure out that there isnt going to be a turnaround at yahoo the senses that they will never become as big as google, as successful as apple. Soy are so far behind in many key areas. What they need to do a step back and figure out what do we really do best . What are we good at . Where do we have an advantage . And even if that ends up being much smaller in scale or ambition than where they would like to be, that is the best but to focus. That have made a great job at compartmentalizing news and weather and things like that. And apps for the phone. Maybe that is where they can focus a lot of their efforts. Lets not try to be the big broad google. In certain aspect of content or delivery where they have an advantage. On content alone, they dont really have any real advantage. But they are really good at packaging it and delivering it in a way that consumers react to. Even if that means a smaller overall scale, that is where they should focus. Betty ibm surprisingly has been one of the dad bets for some very big investors. Even Warren Buffett bad bets for some very big investors. Even Warren Buffett. Dr. Eggers Warren Buffett takes a longer view on things. He is thinking is there still longterm potential here . Ibm is in a tough place. They have done a good job in devasting and spinning off businesses before they became unattractive, before they went sour. Theyve gotten out of so much. But the new stuff coming online has a been there. It hasnt grown as fast to replace that yet. Betty watson though . Dr. Eggers watson is what they are pinning big hopes on. Productizehat we can big Data Delivery i have seen it. It is very impressive. I think it is a lot of longterm potential. But it will take a while to get it looking as good as they needed to look and do the things they need it to do and to get companies to pony up the large dollars for it. Betty what about walmart . Dr. Eggers this is been one of those years where walmart has been underperforming. There has been to there hasnt been one incident betty their stock has gone down almost as much as chipotle. Dr. Eggers walmart has been on a long the client throughout 2015. They have been investing lesson ecommerce and in their than in the physical retail. But this is where walmart has an actual advantage. I think investors are still valuing the company for a while as if there would be a chance if they would be the next amazon and compete in that space. I think we are realizing that is not going to happen. Too busy working on largescale brickandmortar delivery. It will still be very successful and there is a lot of money to be made. It is not sexy. It is not huge growth. It will not be this highflying tech stock. But it can be profitable all a long period of time. The market is realizing that it has to be shifted. Betty thank you so much for joining us. Look atke a moment to the fireworks display in dubai. The show went on despite the fire that consumed that luxury hotel. The fire broke out two hours before midnight. Burning debris had been raining down from the building. Dubais media office said there had been 14 light injuries from that fire. [fireworks explosions] betty welcome back. Its time for the Bloomberg Business flash and a look at some of the biggest stories in the news right now. Goldman sachs got it wrong on the treasury yield this year. But sticking with the forecast for 2016. They say it will reach 3 in 2016 in though it hasnt been that high in two years. It is the benchmark for everything from or he just car loans. For the first time in five years, sugar prices will post an annual advance. And nextup 4 in 2015 year may be better. Producers can give the credit to el nino. It has hurt crops in india and in thailand. The worlds biggest banks dont appear to be finished with cutting jobs. Since 2008, banks have eliminated about 600,000 jobs. Almost 50,000 of them came in the fourth quarter. Deutsche bank says it will get 018. Of 26,000 jobs by 210 the daily mail says that malone investigated discussions with vodafone. A program thats provided Free Basic Internet Services to more than 3 Million People in egypt has been shut down. The social network site was launched three weeks ago. Disappointed it is in the move and hopes to resolve that situation very soon. We will be back in two minutes. Betty welcome back. One of the biggest stories this year for markets was the collapse in oil prices. Will it still dominate headlines in 2016 . Our guest weighed in on bloomberg surveillance. John my thing oil will be the big question for 2016. Is it going to go further down . Blago the high 20s, wifi for wti . Maybe 25 for supply and demand is not as great as we wanted it to be. It is quite anemic. Betty he also spoke about saudi arabia spending controls. John it is tried to be fiscally prudent. It proved the imf to be wrong with its fiscal deficit forecast for 2015. They ended up having a 13 to gdp deficit instead of 22 that the imf was claiming they would have. Betty the s p is currently on pace to snap three straight years of gains with straight declines. It has left just the nasdaq in positive territory for this year. Julie it is down to the wife of the s p. Is it going to be up . Is a going to be down for the year . Joining me is scott bauer. Thank you for joining us. We are past the first interestrate increase now. You sent me your notes earlier today. Maybe now we can focus on what matters most, the economy and earnings. Personally, i say that is pretty optimistic. Im sure the fed will play into it as well. Certainly, economy earnings will be a big part of the scenario in the early months of the year. What are you expecting . Scott i agree with that. And i hope for everyones sake is that is what we can get back to, fundamentals. Theres good to be the angst and anxiety about are we going to raise or not. It is really being factored in for 2016 that there will be somewhere between two and three rate hikes for the year. 60 chance right now that there will be another rate hike in march. But it seems like the pressure is off. Hopefully, we can really focus on corporate earnings and the economy here and really get back to more fundamentals than some of the extraneous things we have been watching. Betty i know you have a specific stocks here trade. I want to ask you more broadly how youre sitting yourself off from a macro perspective. 2016 will be a pretty decent year. I think the s p is went to raise it will probably be up somewhere between 5 and 7 . Nothing gangbusters, but barring any sort of macroeconomic or multinational event, anything coming out of the middle east, it is going to be a good year. If we can focus on earnings. If we can get back to the economy. If we get some of those interestrate highs this interestrate rises. Its been dismal. It has been a dead carcass. There is nothing going on. , at then get that going end of the day, if we can get some inflation, that is better for mainstream america in the end. We are not overvalued here. The s p is somewhat fairly valued. So if i percent or 7 upside is really what i say i see. Julie we have had a couple investors come on recently who have been pessimistic who are saying that we could even enter recession this year, this coming year or the next year. Curious you, but i am to give us your chicago sentiment. It doesnt sound like something that is widely held. Scott not from traders on the Trading Floor and from the people i speak with. I think most of the people down here and i hate to say that i am part of the pack where they heard because i am usually one of the contrarians but most of the guys down here they there is differently some down here think there is deathly some decent air. Definitely some decent air. My advice would be stay in the market and protect yourself. And take a little insurance as we go along. Julie you are looking at Lockheed Martin and that has to do with the u. S. Government and a new Super Hercules aircraft. What do we take from this stock and what is your strategy when it comes to lucky . Scott the announcement today was not unexpected. This was really a verbal agreement they had back in october that was just officially announced. Albeit 5. 3 billion deal is a big deal even from lockheed. But the stock really stalls at some major resistance, the 50day moving average. With this news at and the stock down a little bit today, i think the near term here, we start to come back down and start to trend back toward the 200day moving average, which is a major support down the 204 level. I am going to buy six weeks and i will buy that to 10205 put spread. I can do that right now for a hundred dollars. That is great risk reward. I am risking a dollar here and i can make four dollars on this trade. The thing i really like about it just throwing a dot at the wall. It is looking at technicals. 11 a 12 move between the expiration. If we get it at the downside, we are at the 203 move where i will make some money. Julie great to talk with you. They betty much more on Bloomberg Markets straight ahead. Stay with us. Bring your family and friends together to discover the best shows and movies with xfinitys winter watchlist. Later on, well conspire as we dream by the fire a beautiful sight, were happy tonight watching in a winter watchlist land, watching in a winter watchlist land xfinitys winter watchlist. Watch now with xfinity on demand your home for the best entertainment this holiday season. When youre on hold, your business is on hold. Thats why comcast business doesnt leave you there. When you call, a Small Business expert will answer you in about 30 seconds. No annoying hold music. Just a real person, real fast. Whenever you need them. So your business can get back to business. Sounds like my rides ready. Dont get stuck on hold. Reach an expert fast. Comcast business. Built for business. Betty you are watching Bloomberg Markets. Lets get a check in on the first were news this afternoon. Arrived in dubai a short time ago along with a big fireworks display. It took place across the street from a luxury hotel that is now engulfed in flames. 40 people have been injured. Firefighters 14 people have been injured. Firefighters have been working on it. Been arrested for plotting to attack revelers at a restaurant in rochester. Also chicago officials release hundreds of emails today related to video of a white Police Officer fatally shooting a teenager 16 times. The release of the video after a years delay set up weeks of protest. New information about the woman accused of intentionally plowing a car into a crowd in the las vegas strip. She tested positive for marijuana after her rest, but they dont have plans to add that as a charge. One person died and dozens of others were injured in the crash nearly two weeks ago. And ted cruz raised nearly 20 million in the last three months. That is up from 12. 2 million raised in the previous quarter. He is currently leading in iowa. That state officially kicks off the voting season in february. Betty thank you so much. Green as we near the end of talk withnt to Abigail Doolittle about the winners and losers on the nasdaq. Abigail the composite index is the only major equity index to finish the year higher relative to the other equity indices. This will be the fourth straight yearly gain, ontrack to end 2015 on a record closing high. The 100, worst on were looking at wynn resorts. But the worst is micron. The stock hassay bottomed recently and say that micron may in fact be a turnaround sought for 2016. Lets end the year on a bright note and go to top performers amazon at netflix amazon and netflix. They were up more than 120 in 2015. Even though netflix is the top percentage winner, amazon is the one that really stands out. The triple digit stock pulled a of analystsith 83 bullish on amazon, 2016 may turn out to be a strong as well. Betty thank you. The break, we will be talking with the same distressed investor. Wilbur ross joining us here and out where he is looking for opportunities in 2016 and what he thinks about the growing crisis in puerto rico. Betty welcome back. This month, janet yellen said sent said something that gold prices on a roller coaster ride. Some are predicting there is only one way gold prices are heading next year and that is down. It is heading for its third annual loss. Is jo do. Now this is the worst in decades. Why . Joe we really like to dig down into those quarterly numbers. This is the longest stretch in more than 30 years. 1984. We saw a lot of this come on when the fed looks like it would raise rates and in fact they did. Once that happened, it was a done deal that goldman is not going to have a chance of moving higher this year. The gold bullsis looking for next year . Joe they have been calling for a number of rate hikes for next year. People that are on the other side of that trader trying to say, ok, fed is not going to go as quickly and you have easing around the rest of the world. The ecb, the bank of japan betty it seems like everybody us is easy when the fed is hiking rates. Where do they see the price of gold at the end of next year . Joe the bears are obviously looking at 1000. The bullish folks, i think they are less inclined to give you actual numbers. Betty they have been burned. Joe they have. Three straight years. And they have not been good years. And they have not much of a good reason to believe they will get much of an upside in gold. Some traders say, well, we can see it going 11,000. Thats easy. 1100. Thats easy. But these people are a bit more skeptical. Even if they say i am more on the bullish side, they are not saying that they are entirely optimistic. Also the dollar has been going against them as well. What do they say about the dollar . Joe the strengthening dollar, the bulls think there should be some sort of a pullback because the u. S. Had such a strong year. But they are the same was her saying that maybe the fed is not going to hike as quickly as some people expect. Betty thank you so much. Rico, a la oerto Garcia Padilla saying that their government will default on 87 million in bond payments tomorrow. The island seeks to restructure its 70 billion debt burden. Joining us now with more from boynton beach, florida, is wilbur ross. Youur, good to see particularly on the last day. A nice day to end our show in the hour, the last trading are of the year. Is this the end . Is this a deadend for puerto rico or what . Wilbur i think it is the beginning of the end and the end of the beginning. What i mean by that is this. Puerto rico does have too much debt. It do