Transcripts For FBC After The Bell 20161227 : vimarsana.com

FBC After The Bell December 27, 2016

Melissa brawl at the mall. Fights break out at malls across america. Well look into the role social media is playing in all of this. Historic visit, japanese Prime Minister touring a pearl harbor memorial with president obama this hour. Well take you there when they make remarks. This is first time a sitting japanese leader formally visited the site where japan surprise attack launched america into world war ii 75 years ago. David it is all happening in the colling hour. First back to the markets. The dow inching closer to 20,000 but losing some steam into the close. Were 52 points away. Could happen any day of course. Gold and oil moving higher. Phil flynn watching action from the cme in chicago and Nicole Petallides from the floor of the new york stock exchange. Nicole, you get a sense of a stall for the dow but the nasdaq notching another record high. Very convincing. No doubt. Were watching highs and close to highs across the board. Nasdaq is one that did it. It hit the 5500 mark. We remember in 2000 when we crossed 5000. It took so long to get back to these levels. Here we are today, crossed 5500. Were up half of 1 . Here are some names that helped move nasdaq to the upside today, including tesla motors, netflix and nvidia. Some of these names really had great, netflix in particular had a great 2015 and pulled back some. Some technology names, talking about facebook and also amazon and netflix and google. They havent had quite the 2016 that they did in 2015. But got to take what you can get from this group. They seriously are doing well. Nasdaq up close to 10 this year. The dow about 15 . Quickly as the dow leaders looking at apple, cisco and goldman sachs. Those are winners. Were about 20 points away from dow 20,000. It is toying and teasing with us until we actually move through. It took a month to get through dow 10,000. So those round numbers can be tough. Melissa there you go. Well keep an eye on it. Nicole, thank you so much. Phil, oil getting a boost, ending up 2 . Is it based on opec optimism . It definitely is, no doubt about it, going into the end. Year. In fact we heard from a major nonopec member over the weekend, vladmir putin, the president of russia, who says get ready the production cuts are coming so the market really believes it. We had a big runup in natural gas, a return of winter after the little warmup getting the market excited. Look at gold, back from the dead today this is a the market that had its worst run in 12 years. It is back up, partly going into the holiday but also because of the strong Housing Price number, the strongest weve seen since the beginning of the financial crisis. Maybe inflation is in our future and gold might look good. Back to you. Melissa all right, phil, thank you. Well see. David dow 20,000 certainly in sight. It has been for about a week but will we hit the mile stone before the new year . Lets bring in todays market panel. Veronica daguerre from the wall street journal and jim lowell from the advisors panel. Big bow tie. I like that. Nasdaq is full steam ahead but the dow seems stuck. Why . Well, i think this is a year where we have had very significant and surprise postelection rally. The dow not quite convinced maybe it needs to go all the way to 20,000 plus before we get some more facts on the ground but i bet we do it before this year does run its course. It is awfully tempting you about the temptation has to be matched in facts for it to be sustained once we break over 20,000. David veronica, next week we get the jobs numbers. That is some indication whether people believed enough in trump is doing so theyre hiring more people. Could that move the market . This week it is such volume. Well see volume even drop as the week goes on. So next weeks jobs numbers could be that catalyst. I think for the average investor this is exciting but not like it was dow 10,000. David yeah. While were all professional investors are waiting for this number, average investor at home were not excited as they were a couple years back when it does hit, dont freak out either way. There will be opportunities to get in. If youre in already, youre probably feeling good right now. David some people were thinking, jim, whatever happened to tax loss harvesting. When you sell your sled before the end. Year in order to balance out some of the winners during the year taxwise . I think well see a lot of that at the start of 2017. There has been a little bit of a pause this year because there are some unknowns about what trump and the new administrations tax policies are going to be like, i think people are waiting until they get a few more fact the on the ground. David yay. Otherwise we would have seen some significant swap loss selling. Look this market handed us a basket full of spectacular pains this year. Next year i would suspect while we still see the s p 500 maybe gain 10 by yearend you will have to be a lot more selective and a lot more focused on good active managers who know not how to buy the market but buying specific names in the marketplace in order to deliver those gains. Melissa donald trump the real hope and change . The president elect tweeting, quote, the world was gloomy before i won. There was no hope. Now the market is up nearly 10 , and spending over a trillion dollars for Christmas Spending exclamation point. Consumer confidence hit highest level in 15 years. What you do think, veronica, are you buying it . Is it the trump effect . There is a trump effect going on, i dont think we can doubt that but i think it is a bit of a stretch to count everything to his election. His election was exciting for a lot of people. His potential policies are very exciting for a lot of people. However if you look at earnings, earnings were accelerating into the second half of the year. Look at Holiday Retail sales projections those were 3 to 4 for end of the year. Certainly not a trillion dollars. Melissa but it is the outlook, jim. Consumer confidence, that is really a number, people think their taxes are going down next year realistically. Almost everybody will see a smaller tax bill when we look at the current incarnation what we think the tax code will look like. Youre sitting here, feeling better. Youre spending a little bit more, no . No question about it. This is an economy at full employment for many people. Their wages are rising. Their 401 k balances are back at record highs. Their home equity values are strong. There is a lot of reason for real optimism. Add to that the assumption well get tax breaks, more money in our pockets. For consumer driven economy, Consumer Confidence matters. What matters essentially what consumers do with the money. We always watch what they do, rather than how they say theyre feeling. But look, dow close to 20,000. A lot better than dow close to 5,000. Market at full employment. A lot better than eight years ago when the market looked like we may not have returned to employment ever again. David okay if there was ever a story waiting for donald trump tweet, this is it. Boeing may have no problem overcharging the u. S. For air force one but, the Company Might being offering a big discount to iran. Boeings deal to sell more than 16 billion worth of aircraft to iran will now cost just 8 billion according to irans deputy transport minister. Jim, i can see the tweet. Here were giving half off to our enemies and were charging the u. S. Double for air force one. Its a fair tweet. If you give me 150 billion and i buy 8 billion worth of your products i take that day under any sun. Took place to fly around the world but i would be very nervous if i were them youre buying handful of planes from boeing, u. S. Company, looks like we could put good Surveillance Software on the ground in iran quickly. David that is a nice idea. Im sure somebody saw that. Veronica, a lot of information is coming from iran. You have to suspect the source here. If true, this is tailormade for trump to say look, you guys can do whatever you want with iran but you will do at least the same if not better for us. Absolutely red meat for him and his followers. Not sure why they havent jumped on it yet. Well see. When you look at a stock like boeing, their executives are not too thrilled about this they desperately need orders. They have seen a decline for their big jets. They need sales from iran to help their sales. Well see how it hurts negotiating power, not just in iran and other parts of the world but in the United States. David i cant wait for that tweet. Veronica, jim, thank you very much. Good to see you both. Melissa so president elect donald trump announcing plans to close his foundation amid criticism over conflicts of interest. Why this may be easier said than done. David racing the clock to empty Guantanamo Bay. President obamas last ditch tempt a to free even more detainees as nearly a third of those who were released are returning to terrorism. Retired Navy Captain Chuck Nash weighing in on that. Melissa outspoken harvard law professor Alan Dershowitz says israel has been stabbed in the back by the president when the white house sat out a crucial u. N. Vote. He explains why peace in israel will be harder to achieve and well look how it will impact the future of the United Nations. It is an organization that exacerbates tensions, it does not assuage them. I think it is Good Real Estate in downtown new york city and trump ought to find away to put his name on it and turn it into condos. Melissa tensions remaining high between the United States and israel as we are hearing secretary kerry planning a major speech. Fox businesss blake burman has the latest info rrounding israelu. S. Relations. Blake, it is getting dicey. Reporter. It is in the final days, melissa of the Obama Administration, state Department Spokesman says secretary john kerry will give a major speech tomorrow about the middle east. This comes as the government of the israeli Prime Minister Benjamin Netanyahu is accusing the u. S. Of interference. Israel is saying it was quote, ironclad information that the United States helped create last weeks u. N. Resolution which condemned israeli settlement building. Here was the ambassador, ron dermer, last night on fox news. Listen here. We have that evidence. As i said earlier well present it to the new administration. If they choose to share it with the American People that will be their choice. We have evidence. Reporter now the United States abstained from that u. N. Vote but Deputy Press Secretary eric schultz denies the israeli claim of coordination saying, and im quoting here, the egyptians in partnership with the palestinians are ones who began circulating a earlier resolution. The egyptians are the ones that moved it forward on friday. President elect donald trump has been a harsh critic of the u. N. Following the vote. He tweeted the following, quote, the United Nations has such Great Potential but right now it is a club for people to get together, talk and have a good time. So sad. Melissa, again that speech from the secretary of state john kerry were told coming at some point tomorrow. Melissa okay. Well keep an eye out for it. Blake, thank you. David mike next guest says president obama stabbed israel in the back. Alan dershowitz, harvard law professor emeritus, joins us right now. You had this personal meeting with president obama at which he pledged to have israels back. Well he did have israels back, as a target. There is no conflict between the United States and israel. Americans overwhelmingly oppose this resolution, support israel. 88 senators opposed it. Entire house virtually opposes it. Many within the Obama Administration opposed it. This is a personal thing. This is barack obama, the lame duck president , undemocratically with no checks and balances at a time when congress is out of session, just getting even, letting his passion prevail over policy. David but, would he do such a thing at the risk of israels future . He would. He would do it at the risk of americas future. David does he not care about israels future. Im not sure he cares about americas future. He cares about his own legacy. He burnishes it he doesnt get this is bad for america. Remember if he was opposed just to settlement building he could have had a resolution saying we opposed settlement bidding were critical of the settlement build building in the west bank. David there is more to the resolution than just settlements. It goes to the heart of jewish gushes. Says jews cant pray at holiest site of judaism andcant go to jerusalem university. David aimed ad demographic competition, character status of palestinian territory occupied since 1967, including ease jerusalem that would include the west wall, wailing wall. It is not palestinian territory. Palestine didnt exist, still doesnt exist. Jordanian territory captured from israel in aggressive military war in 1948 when all the arab countries attacked new nation of israel, declared war on it and said it would engage in genocide. Jordan captured it illegally. Why does that become palestinian territory . At most disputed territory. David we have a minute. Two things i want to get in. First of all how difficult will it be for donald trump to undo the resolution . He cant do it. That is the problem. That is why it is so undemocrattic. The democrat tieded hands of his successors. You cant undo failing to give a veto. What he can do, down the impact, declaring that it is american policy. The capital of israel is jerusalem and moving embassy there. David you heard the israeli ambassador, ron determiner, in fact they have information this resolution was pushed by the United States. They didnt just abstain themselves from the vote. They actually pushed this. Do you have information from that. Yes the idea america would allow resolution to go through without any i am being pack he is either axe noning when the president and his people say they had no influents on resolution, they are claiming i am poe tens, they could have threatened to veto, they could have said we will veto unless you take this language out, either they were incompetent tent and ineffective or they played a behind the scenes role. David you have scene information. I have heard information that demonstrates that america played a far more active role. And there will be congressional hearings and ben rhodes will be called to testify under oath and produce documents. I bet you anything you will see americas heavy thumb on that scale of injustice. David professor Alan Dershowitz. Good to see you, professor. Thank u. Melissa. Melissa Carrie Fisher sadly passed away. Many costars and friends paying tribute to their late friend. Well show their reaction next. Plus, president obama says he would have beat the president elect in the election. The president elect is not happy about those comments. This is offensive to Hillary Clinton. Can you imagine how she feels, that president obama says she is such a loser candidate that i would have won and she didnt. That has to be something not going well over in that house at chappaqua. What super poligrip does for me is it keeps the food out. Before those little pieces would get in between my dentures and my gum and it was uncomfortable. Just a few dabs is clinically proven to seal out more food particles. Super poligrip is part of my life now. Melissa president ial showdown. President obama claiming that he would have beat the president elect and won a third term. Take a listen. I am confident in this vision because im confident that if i, if i had again and a ticker lated i think i could have mobilize ad majority of the American People to rally behind it. I know in conversations that i have had with people around the country, even some people who disagreed with me, they would say the vision, the direction, that you point towards is the right one. Melissa hmmm. Donald trump firing back in a tweet saying quote, president obama said he thinks he would have won against me. He should say that but i say no way jobs leaving, isis, health care, et cetera. Brad blakeman, former bush 43 staffer and danielle mcglothlin, liberal commentator. Brad, let me start with you. The person this really hits is Hillary Clinton. He is saying gosh, anybody could have beaten this guy with the right vision. He is really saying it was just her that didnt do it, no . Well, i wonder if they let the president now have access to newspapers and television because he makes such a statement. This was a stunning rebuke, this last election of barack obama. This is the year of the ultimate outsider. Donald trump was able to do that in the primary. He did it against the ultimate insider this november, Hillary Clinton has been around 40 years in various highprofile positions. L over the country, begging people, shaming people to vote for hillary, because they said, he said a vote for hillary is vote for barack obama continuing the next four years. Stunning rebuke of barack obama and obviously he is in denial. Melissa what is interesting about what he said, he said if he had gone out and articulated the message, that it wasnt about his popularity, he is saying you know the message should have won but in truth, i mean democrats lost 1042 state and federal posts. Under president obama. You have the front page of the New York Times saying was barack obama bad for democrats . I mean almost like the evidence is that he himself was popular but what he said about, you know, if he just articulated his vision, that vision would win, seems by numbers not correct. Well, we what happens often what you have an administration in for two terms we see the other side coming in and often times taking house and senate and often down ballot race, governorships and others. Since jfk, every single democratic president who has come in also taken the house and senate. To obamas point whether he would have won or not

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