Resolved, a rough day in wall street, investor hit with a another triple digit drop ithe dow with a market creation becoming a reality. Tonight, president obama following up his state of the union message. Pushing his modest proposal to spur the economy. He plans to enact with or without the backing much congress. Some of my ideas ill need congress. But america cant just stand still. If congress sden doing anything. Im not going ta stand still either. Wherever i can take steps toke pan opportunity for more families to expand more opportunity for family im going to to it even without congress. Members of president own party have expressed disappointment with the tone of his state of the union speech. And allie rejected a request, told white hou he ll not fast track votes on pending trade agreements with europe and the pacific rim. President bama is back on the campaign trail trying to keep democrats in shark of the senate in thank o charge of senate. Some people will earn more money than others, we dont envy anybody who achieves success through their hard work. At another stop in maryland, president visited aye costco, he joked they sell everything from snork els to sofa sets. Making changes to men hum wage, and setting up a new rirement savings program. Corporate profits, have soared but wages and incomes much ordinary people have not gone up in over a decade. But some vulnerible Senate Democrats are not buying it, son tor from alaska said he was disappointing that president it not mention the e exxon keystone pipelin saying that president delivered good sound bites but they need a clear plan in economic growth. Missing his chance to talk about National Energy security, and senator nar mark uwillo was asked if he wanted president to campaign for him, he donged. Well see what the president s schedule is. President s allies feel good that on healthcare, republicans are largely shifting away from a repeal argument. And his vigorous defen of the law may rally democrats, onem break reform on immigration reform. President won applause by aids partisan attacks. Republicans are turned off by his threat of going around them on other issue, today when president claimed he was signing a bill passed by congress, when really it was an executive order. Now im going to sign this bill, thank you, god bless you. Reporter a new plan called mrias peopleithout a plan at work save more money. There are limits on plan in part because it never went through congress, so does not have the force of law. Thank you ed. On wall street, stocks finished today sharply lower folws the fed to decision, s p down 18, nazdaq fell 46. So, Federal Reserve announcing it the continue to cut its monthly asset purchases by 10 billion brings i town t 65 biion. Boeing shares falling more than 5 after a disappointing tlook. And facebook shares sunked in av hours surged in afterhours trading following a 63 jump in revenue fueledy strong mobile ad growth. And Fiat Chrysler automobiles getting a new name, shares to trade by october 1. Toyota announcing it produced more than 10 million vehicles wod wide last year, the first auto maker to produce that many cars in a year. And on capitol hill, attorney general eric holder on hot seat, to testify on all issues, but first holder confirmed that federal authorities are investigating targets data brch prior to target confirming a third partys vendors credentials were stole en. We jen rally did not discuss certain matter, i can confirm that the different is investgating the breech involve breech involving target to work to find the perpetrators and any individuals or groups. Then the attorney general was posed forced toy iyy it fend the staple that marijuana is safer than alcohol. I think that the use of any truth is potentially harmful, and in included in that, would be alcohol. The president said, i dont think it more dangerous than alconal alcohol, do you agree. Any drug can be harmful. Using marijuana against the law is that appropriate use . About for young people too to that, that violates federal law and we said would be something we would connne to use our federal law ainful, holder said that he did not consult with obama before the president gave the interview to the new yorker. And Senate Intelligence committee Holding Investigation on terror threat. More than a year after president obama declared on the campaign trail that al qaeda was on the run, James Clapper testified he could not say that was true. I cant say that the threat is and less. I think our ability to discern it is much improved over what it was in the early art of the 2000 period. So clapper said that syria was becoming a hotbed for terrorists and militant group want to attack the u. S. And house today approving a 5 year farm bill eing what has been coosidered debate on how to cutting a subsidies and food stamps, passed by a vote is now going to senate which is to begin considering the len laying early next week. Legislation next week, some house conservatives not happy with the bill they wanted to cut they wanted too cut food stamp spending by 4 billion a year, it cuts just 800 million. A rare snow storm in nations deep south, wreaking havoc in areas not used to it, just 3 inches of snow in jo georg and alabama, but there were so many accidents, and people died. Schools, and businesses, and offices let out at the sametime, causing mass chaos and gridlock, children forced to camp overnit in schools mean workers slept in their offices, merge crews were still rescues drivers this afternoon. We cant control mother nature. Just as we could not make better predicts neither could School Superintendents that is why the schoolchildren are in the situation they were in. I was standing there in front of you taking every question you have so people at home know their governments actively trying to solve a very bad problem. Chipper jones, find out new twitter tha first baseman Freddy Freeman was sck in traffic for 5 1 2 hours, he rescued freeman on his 4 wheeler, his commute home took 11 hours. Stay with us, well be right back. State of the union address, memorable in oneay for a struggling hero, but slightly less than true in several others. Were Fact Checking the president with doug schoan and red r lori Fact Checkers taking president obama to task, among them about this claim about new jobs. A entrepreneur flippedo her lights in a tech start up did her part to add to mor than 8 million new jobs our businesses created in last 4 years. Lori president cherry picking numbers 3. 2 million jobs have been created since opponent took office, then this claim about Health Insurance enrollies. Already because of the Affordable Care ac more than 3 million americans were age 26 have gained coverage you were their parents plan. More than 9 million americans have signed upor private Health Insurance or medicaid coverage. Lori president leaves impression that chosen rollments are a result of obamacare but the medicaid car includes new enrollees in renewals that have notion to do with the health care law, then this claim. Our deficits, cut by more than half. Lori keep this in mind, federal budget deficit has decned in half since t 2009, still higher than normal terms, and as percentage of gdp that is what it was in 2008, you still have a 17. 3 trillion debt, it is greater as a percentage of overall economy than prior to e rig, not somethingo be proud of, joining us, doug schoan and ed rally ins. Rawlins. Thank you, lori. You respond do you agree with our on take . I am less concerned by him taking a f liberties than fact there were no overarching themes, no sense of purpose in the speech, i didnt have a sensehat president saw bipartisanship as anything other than desire able goal, he was note doing much to achieve. It was a political speech, i suspect ed would okay agree, and purpose was not to make policy or improve the american condition, but to win an election. Lori ed, there is no more elect for president obama. Was this successful at all eventing him from falling into lame duck st us. He is becoming more and more irrelevant by the day. I think for setting a tone for midterm elections, which are coming up, often a referendum on a preside, and his policies, i think that sad part is that president went in, really, so different from as a year ago, a year ago he came out of a reeltion, had a different tone well work things out, this was a you do it my way or im doing it myself. The president cant do it himself. You know i lived thrgh nixon years, heried executive orders, and the rest, at the end of the day you have to have congress to make laws or pass budgets, this president has not done anything to develop those relationships, right now i think a lot of democrats are now as republicans were, a bush fatigue in 200006 now obama fa in 2006 now it is obama fatigue. Lori they are nervous about upcoming elections. How will they fair . Are they in jeopardy . They are, polling numbers, in each state there, and a few others show that democrats even with or behind their likely republican opponents, one rule of thumb, distance yourself from unpop unpope npopular president. Lori you seem glum. I am smiling. Lori you are piling on. I am not, i am talking hard headed politics, you advise a marginal senator or congressman in this environment, you do what you have to do. Only thing they have is to distance themselves from the president , you can be a good democrat and not be a obama loyalist. Lori 40 minutes into the speech, not recognizing members of military, until virtuall the very end. The brave rapeger at th ranger with 10 tories of duty, that sun believable, that is what people of believe last night, the applause in bipartisan ward him is a great change for the military from many years ago, we appreciate what they have done for us, again, president has no new initiatives, my sense obamacare will run itsourse, it may never work. And i think a lot of americans wi lose their health care, they pay more for less, and to declare victory at this point in time is foolish. Lori thank you so much. Up next, a trend triple digit loss in the market. Is a correction in the market is a correction in the market underw [ male announcer ] e new new york is open. Open to innovation. Open to ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at startupny. Com. Lori big news on wall street, Federal Reserve announcing a decision to scale back bond purchases, markets selling off on the news. Joining me now, global head of macro equity derivatives for cantor fitzgerald. Great to see you, it has been a volatile cple of trading sessions, what do you make of it . Market of the weak early on, fedex asker baited that, real news came overnight from turkey, they increased overnight rates. Lori a lot more than anyone anticipated. From about 3. 75 to 12 . That is a big increase, brazil has done the same thing, pressure on emerging market currencies is because of taper. Lori a lot are debating if the Federal Reserve should be cog sent of what is going on, a lot of money going to fragile 5 is that the coin . Now will it reverse . Will we see a reaction in u. S. Markets from this soil soil, and volatile tie and vul nirability . Emerges markets are important to numberral growth, asthma,et Central Banks raise their Interest Rates to fight inflation, they risk slowing growth. As they slow growth that lowers global gdp that lowers demand for goods and services produced companies in the u. S. , especially large caps in s p 500 for example. Lori taper is done slowly. By the fed. So, there is a cyclome cal psychological react going on in markets, will tha be priced in and move on . Become the cost of doing business or will that volatile tie turn it . Our assessment washat equity market in u. S. Would be up marginally this year. In to august, when thi then it will flatten out. Other periods of hisry weve seen a lot of volitility. Lori how would you play these times, have you to be on top of our investment portfolio. I like owning volitility this year, you can also do it by bringing up your cash balances. If you are a retail investor, and position yourself more conservatively. Lori a defensive profile these days . Were concerned about industries that are interestrate sensitive, concerned about housing and reits, were concerned about corrode it and high yield for example about credit and high yield for example,by sa say we stay with big cap consumer stap elsstap else names thank you so much. Thank you. Great to meet you. Same here. Lori take a moment pick up a copy of lous n book, upheaval, online, and at bookstores, were giving away free copies to authors of emails, twes and facebook posts we read on the air, chris wrote on facebook, i dont want the state of the union to be a speech any more, it useless, i want graphs, and charts and models of a policy impact on a sector, i want substance. We like to hear from you email me. Follow uso twitter. Or our facebook page. Limps t links to everything found on loudobbs. Com. Our panel of our favorite radio talk show hosts give us last nights biggest political winners and losers. Joining us next. Lets say you pay your guy y arnd 2 percent to manage your money. Thats not much, you think except its 2 peent every year. Go to e trade and find out how much our advice and guidance costs. Spoiler alert. Its low. Its guidance on your terms not ours. E trade. Less for us, more for you. vdiculousness. Sublime. U cay from fashionhat flies off the shelves. And you. Rent from national. Because on national lets you choose any car in the aisle. And go. And only national isanked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like pro. Ive come up with a family emergency plan. What is it . Its difficult to talk about. So im not telling you. Im so glad i wonhave to remember anything. Me, too. Announcer visit ready. Gov kids for tips and information. Lori okay. The ratings are in for president obamas state of the union. Not pretty. 33 million peoples to attend. That is the smallest audience since president obama said office. In the worst for a state of the union speech since 2000. Republican congressman Michael Grimm of new york issuing several apologies after this incident last line in which she physically threatened reporter following this to the union. Lori he has to be kidding. The congressman apparently had said the reporter asked a question about how dare he, an ngoing federal investigation into gramms campaign fundraising. In the immediate aftermath of the incident he sees his actions by saying he was extremely annoyed. Today the covers with public statements were much more contrite. You know, this was an unfortunateincident that should not have happened. I am sure my italian mother is going to be yelling in the same you dont behave that way. Shes right. Lori so charming. Kidding. And then there is this. Vice president today responding to criticism by former defense secretary robert gates that he has been wrong on many Foreign Policy issues for a decade. The part i focused on his when he said biden is a man of great integrity. Think hes a man of intrity. Bill gates and 95 bob gates and ve disagreed on almost every major Foreign Policy since be dumped. History will judge ultmately he was right or wrong. He is a fine man. Lori bill, bob, gates, what the difference. A billion dollars. Mixup is just the wrong wy. So when asked about 2016, he said he thinks he would make a good president and that Hillary Clintons ultimate decision of whether enough to run will not directly impact is on. Have toget to the ateam. So much to chew on today. The are joined by Talk Radio Network nationally syndicated host and fox is contributor,and the democratic strategist, attorney and ktla katie okay radio talkshow host in los angeles. Fox news radio talkshow host. Welcome. I dont know where to begin. Agassi could sum up the state of the union and one issue i did not get to wih the three republicans to give the response. Did that in your mind dilute the position of republicans . Was effective at all . As a conservative i took a look in that understood where all three were coming from, but from a strategic poi of view and a Communications Strategic point of view i think its st of a hot mess. The president speaking on behalf of the nation in his party. You have three separate voices, all along the same lines but with different approaches to this challenge. I think it ends up confusing voters who might want to take another look at the Republican Party and say, wait a minute. To my really listening to, the tea party, rand paul, kathy morris. There were all fine and gave strong statements, but i think its really confusing to the average voter to hear that cacophony of different points of view. Lori very streamline and very focused. Let me get your take on the state o the union and the republican response. Well, the state of the union was obama going very, very slow, microscopic, in fact. Kind of saying to democrats, now you have a tough time in 2014 fed. What yotry this stuff. Maybe it will work. And sending them out the door. I really like kathy mcmorris. I think she makes a very personable person. She didnt rea for a water bottle, so squeaky, have charts. She was very relatable. I hope people will take a look at her little more. And make a break moment you point out from those responses. All right. Your impressions of te overall evening in washington . Sure. Certainly. The state of the union was a bit brought for my taste as a progressive. Would have appreciated the president s really tackling what seem like 12 or 13 Major Political topics are no, i would like to see him there that data give us more specific agenda plants. Take on Voting Rights specifically. Take on some of these foreign issues going on. Those are important instead of trying to do these when it issues that seem just real over broad and lectures substance. Think you could provideus. We get your take on the seri