750,000 Illegal Immigrants so they can remain in the country once trump takes office. You will want to hear about this one. He. David i am indeed but first back to the markets. The dow endings slightly in the red with disney, american express, and nike among some of the biggest drags. Gold is taking a beating. Sorry for the gold bugs. Phil flynn, price futures group, fox business contributor watching all the action at cme. Adam shapiro on the floor of the new york stock exchange. Adam, all major indices adding higher for the week. Who are the biggest movers . Talk about the russell 2000, all that glitters is not gold. Small caps having wonderful run another lifetime high and record close, fifth Straight Record close. Small caps doing very well. When you look at dow, s p 500, nasdaq up for the last two weeks even though were closing down today. Some big winners today, mcdonalds, theyre up 5 at close. Goldman sack up. 3 Cisco Systems down 3. 5 . Disappointing earnings. Walmart, Warren Buffett and berkshire decided to sell off a big stake in walmart. Down 3. 6 . Boom, theyre out. Nasdaq hit intraday high and pulled back. Jdd. Com up 9 and the rest you can see right there . Melissa thank you, adam. Gold tumbling for the second straight week, the worst two week span in more than three years. Phil, where do you think one ends, dare i ask . I dont think it will end right now. We held 1200 an ounce today. It looks very tenuous. Hard for gold to rally, melissa, when you see what bond yields done. The treasury yields best week since 2001 for heavens sakes. Dollar, decade high. Really when you look at that it is difficult to be long gold. Lets talk about oil real quick. Oil closed higher despite the fact we have strung dollar and rising yields. Part of that is progress made on opec, nonopec decision. One of the big bullish things happened, iraq basically said opec is getting closer. They were one of the ones that squashed the deal at the last meeting. They say theyre getting a lot closer. Theyre optimistic a deal will get done. That brought oil higher. But at end of the day it sold off. Why . U. S. Producers, raised rigsby 19 rigs, closed higher but not as high as we were. Back to you. Melissa phil, thank you very much. David who listens to opec anymore . Opec for goodness sakes. Lets get back to the stock market. Major market averages are higher after donald trump won last weeks president ial election with the nasdaq and russell 2000 each touching lifetime highs as well. This is coming as the u. S. Dollar which phil was talking about hitting a four 1 2year high. Thats why gold is going down so much. Joining me for reaction, veronica daguerre of the wall street journal, and jack hough, Senior Editor at barrons. Today and yesterday the markets are kind of taking a break. Is this a temporary break on a way back up or what . Jack . I dont think its a temporary break. Lets not go too bonkers combining our politics with our stock investing. If someone out there i about trump being president , things well get better economic growth, great. That wont necessarily translate into higher stock market returns. Keep in mind, that the stock market has had a dramatic rise while obama was in office. It is trading 18 1 2 times earnings. Youre getting this much Earnings Growth right now. So it is not necessarily that youre going to see rampant gains from every day here on in the stock market. I would caution you look at one ticker, dry ships, drys. This is shipping company no longer paying its debt. There is speculation about bankruptcy. All sudden went from 4 a share before the election, trading over 100 this past week. That is crazy. Lets be more sensible. David ask veronica to make a prediction, what is more likely before christmas, dow 20,000 or dow 16,000 . Remember well probably have a rate hike between now and christmas . It is tough to make a prediction at this point only because there is still a lot of uncertainty. Yes we know trump is president elect. However we dont know what his actual policies will be once he is in office. What were seeing in the market now, theyre looking what is right in front of them. Looking at this possible Interest Rate hike which is most likely, looking at lower regulation, lower taxes. All that is really good for the market short term, however, when we hear more about what he is actually going to do with trade and what actually congress will let him do in terms of taxes, well get another adjustment in the market. It is too soon to make predictions other than the fact expect, investors should expect volatility especially as he gets into office. If he goes on twitter on a twitter rant again. Melissa you know there is all that president elect donald trump is taking credit for fords decision to keep their kentucky plant from moving to mexico after a phone call with chairman bill ford. The company though says they were never going to move it across the border in the first place. You know, jack, i mean, i think this is the first time politician has ever taken credit for something that he didnt actually do, to try to tell voters im here for you. Never happens. Were living in postfact america, melissa. Youre being oldfashioned here. The facts dont matter as much anymore. Im glad if were moving beyond badmouthing ford. Lets remember that this is the company that didnt go bankrupt during the great recession. Ford has plenty of jobs that they kept here in the u. S. They have some jobs overseas but lets keep in mind it is not that clearcut. Just because youre making cars overseas doesnt mean you dont have u. S. Jobs tied to components for the cars. Melissa whole reason why they got all the attention because they were planning on two building new plants in mexico, 2. 5 billion, adding 3800 jobs. They were going to invest further another 1. 6 billion in mexico in small car production in 2018. Only reason why theyre not moving jobs, even though it cost less and obviously opening new plants here, theyre not getting rid of the existing jobs here because they cant under union contract. It doesnt mean that that is not their intention to do that because theyre opening new plants down there. Theyre not sinfree in this and maybe veronica, it is an opportunity to step forward and try to make some kind of deal with donald trump . It could be an opportunity. Well see what he actually enacts when he gets into office. If youre ford from a press standpoint, what they did was smart. They didnt go out and correct the president elect what he said. They said you know what . Well let him have this easy win, perceived win, now, before his term starts and hopefully get that goodwill started with him, reset the relationship with the president elect. That way they are no longer the target of attacks, et cetera. Melissa they did mutter his criticism was infuriating and frustrating. There was a little muttering off to the side. Complaints. He doesnt notice that. It is all good. Thanks, guys. David . David what will the fed do under Trump Presidency and what will trump do to the fed more importantly . Peter barnes sat down with dallas fed president Robert Kaplan who was supporting a progrowth plan not unlike President Trumps plan. Take a listen. Spending other economic policies, structural reforms. So, i think that is a good thing. Well have to assess these individual policies and see whats actually implemented, but i think if there are things that actually help improve the path of growth and improve employment, then i think it will give us a little more operating room as we head into 2017. David as i just mentioned the feds next key meet something in december where the likelihood of a rate hike stands around 92 . Melissa, remember last time they raised rates the markets did take a tumble but its a different world now. Melissa you said they wouldnt raise rates before the election. You were right. David we were both saying that. Gold, remember. Melissa all right. This hotel will not leave the lights on for you because they dont have any. 200 room, fivestar hotel abandoned leaving taxpayers on the hook for 85 million, right . Unbelievable. Were going to bring you the disturbing details. David outrageous. Democratic congressman calling on president obama to pardon hundreds of thousands of Illegal Immigrants so they can remain in the country once donald trump takes office. Melissa and president elect trump tapping alabama senator Jeff Sessions to be the next attorney general. He is faced some challenges in the past but will the senate sign off . Well see. Well talk to michael mukasey. Former u. S. Attorney general under president george w. Bush. Donald trump is not looking at someones political affiliation, whether they support him or not. He wants the best, the brightest, the most qualified people not only to fill his administration but give him advice on policies and opinions they have on how to enact an agenda successfully. I just snapped a photo and got an estimate in 24 hours. My Insurance Company definitely doesnt have that. You can leave worry behind when liberty stands with you™ Liberty Mutual insurance i use whats already inside me to reach my goals. 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How does it look now that hes left . Port maybe things calming down a little bit. Traffic is moving along well if you like that report. People trying to walk home from work what have you, motorcade rolled to the west on 57th street off of fifth avenue, heading out to new jersey where the president elect has a big weekend planned as im sure you know. Well talk about that in a moment. Before he left new york he did make news with the appointments. Senator Jeff Sessions for attorney general and retired general mike flynn, National Security advisor. A post that does not need senate confirmation. Cia director would. Congressman mike pompeo, congressman of kansas up for that. That is news of the day. His final meeting of the day which went a little longer i think some anticipated, why we only saw the motorcade rolling a short time ago, was with governor mike huckabee. Rumored for certain jobs within the administration or possibly as ambassador. Talking to a Senior Source inside of the trump transition we cant confirm anything was offered to governor huckabee. He did briefly speak with reporters after meeting. Here is the governor. Im happy what im doing. My job right now is to listen to the president elect. It is his job to make the decisions. Whatever decisions those are that will again that is not for me to disclose. Only person giving out jobs in this build something president elect donald trump, not me. And you know, i respect any information about what our meeting is about really should come from him. Reporter should come from him. We havent heard from the president elect after any of these meetings characterizing how they have gone. One of the most anticipated meetings he had to date would be the one set for tomorrow. Well show you a live look at Trump National golf club in bed minister, new jersey. They await the arrival of the president elect this evening. At golf club he is meeting with im sure you heard the 2012 republican nominee mitt romney. David, you and i were talking a little it about about yesterday, what they might talk about. Would he be offered a position and all the speculation about secretary of state an on and on. We just dont know right now. We know the meet something supposed to take place at 1 00 p. M. , 1 00 in the afternoon. Stay tuned throughout the weekend if anything comes up. David we have one of mitts closest aides coming up in a minute talking about what he might be offered or what he might or might not take. Melissa cant wait for that. David good to see you, connell, thank you very much. Melissa. Melissa joining us on the phone, michael mukasey, former u. S. Attorney general under george w. Bush. You had the job so you know it well. That is why we brought you on to talk about. Lets tackle the issues first in terms of what hurdles he may have. Instantly the knock against him the other side is pulling out, not new, in fact very old. Some 30 or 40 years ago when he said, you know, referred to an africanamerican federal prosecutor, that man says as boy. That he said that the clue ku klux klan was fine until he found out they smoked pot. He said that was a joke. Is that enough to sink him . No. It is not enough to sink him and shouldnt be. The remark about the ku klux klan where two klansmen, smoked marijuana and killed someone and he made sure that they were prosecuted in state court, but it was capital punishment. They faced possibility of the Death Penalty or life in prison without parole which the federal government did not have. In the course of discussion about that he made this kind of jocular comment and maybe, you know, one may question the taste i suppose but he meant nothing discriminatory by it. He said, yeah i always thought the klan was fine until i found out they smoked pot. The notion of a potsmoking klansmen was an oddity then and something of an oddtive now. To judge a man based on that is ridiculous. Melissa obviously enough to sink him last time around. In the meantime under reagan when he was trying, nominated for a federal judgeship and was denied due to a lot of back and forth. Talk about the issues. You had the job. He served on Senate Armed Services committee. Senate judiciary committee. He was a u. S. Attorney general. Does he have the right experience and what do you think of his positions . He is outstandingly experienced and outstandingly wellqualified. He seen it he was on the committee that oversaw the department, had oversight over the department i served and got to know him then. He is very close to the issues. He knows what the mission is of the department and very much committed to it. As you point out he had the experience of being u. S. Attorney so he knows it from the field standpoint. He couldnt be better prepared. Melissa in terms of having held the job what do you think is the biggest challenge today . Is he up for that challenge . The biggest challenge is to get your arms around what it is going on the inventory of cases, what the priorities are. Figuring out what the priorities are of the president elect and putting things in line with those priorities. Some of it involves deciding which cases should be brought, which cases should perhaps not be brought. And part of it involved allocation of resources. That is in large measure what the job is about, the first job is to find out what it is that is going on there. In fact today people went to the department, to start that process. Melissa boy, when you talk about the ordering of cases based on the president s priority does make it sound like it is more political than we all think it is. That is interesting perspective. Thanks for coming on. It is not bringing particular cases. I dont mean prosecute this person or that person. I mean where you put the resources. Do you put it into Immigration Enforcement or put it into medicaid fraud enforcement or do you put it someplace else. That is inherent in the job. Melissa no, i understand completely. Thank you, sir. Thanks for your time. Well see you soon. David president elect trump putting one conflict to rest before taking office. Sources say a settlement involving allegations of fraud at the nowdefunct Trump University has been reached, melissa, for 25 million bucks. Melissa wow. The high cost of riots. How one lawmaker is looking to hold protesters accountable for quote, economic terrorism. That is interesting. Plus the president elect is heading to new jersey for a little r and r this weekend but trump is getting ready to go facetoface with an old rival. Say, wait, wait. Isnt he a huge Business Success . Doesnt know what he is talking about . No, he isnt and no he doesnt. When mitt started raising his head a few months ago, i was very strong. I said, mitt romney should not run. He is a choke artist. David hopefully setting their differences aside, president elect donald trump meeting with mitt romney tomorrow afternoon in new jersey leading some to speculate whether the former Massachusetts Governor is under consideration for a cabinet position. The meeting taking place only eight months after the vicious dispute during the primaries. Im sure you remember. Lets play it back. Donald trump is a phony, a fraud. His promises are as worthless as a degree from Trump University. He was begging for my endorsement. I could have said, mitt, drop to your niece he would have dropped to his knees. He was begging. There is plenty of evidence mr. Trump is a con man, a fake. Mr.