Market is looking a little nervous. Nicole you saw the dow down nearly 200 points. What you see is basically everybody sells everything. They are not saying i will sell my financials and hold onto my drugs. No. They are getting out today. It is the weekend. We havecome up off the as you noted, they cannot get away from the fiscal cliff. Not just yet. They have not come to a solution in washington. That is front and center. We are also seeing a flock to the area that are safe. The dollar is higher. Gold is higher. We are also there is a look at the dow jones one week. Last friday we close that 13,135. We are still actually of about 30 points for the week. That is if we were to close right here. For right now, certainly, read on the screen because there is so much concern about washington. Melissa thank you so much. Many believe the speaker in the senate, but it did notie even make it through the house last night. I next asked is not confident it will happen within the next year. We will see what the president says. After what has happened this week, it is not clear what the way forward is. It is more likely than not that we will grow into january without a deal. Melissa what does that really mean for the economy . It is to businesses to decide when they change their holdings. There is some spending programs that will be extended. They are uncertain about the outlook. There are a variety of ways that will show up in the First Quarter. Melissa you really think that this will happen . We will not get this deal . They will not stop in at the last minute . I think they have a long way to go to reach a deal at this point. The disagreement that you saw with the republicans and the house are willing to support and what the president and the democrats are prepared to offer, that gap is still there. They will keep negotiating. I think, to a certain extent, you can make too much of just rolling into january 1. I would expect a deal getting done relatively quickly. I think it is getting late. Melissa is there a longterm impact if we go over the first of the year and there is a lot of panic . I think, ultimately, if you come to a good agreement that puts the fiscal policy on a good path Going Forward, i think the negative impacts do not have to be huge. You are seeing a gradual, sort of, undermining sense. I think, ultimately, what matters is policy. Process matters also. Melissa breaking news right now. Harry reid is speaking on the floor of the senate. Lets listen. We knew the socalled plan b was no plan at all. It could not pass the senate or the house. It is too bad he wasted a week on this stunt. At least, now, House Republicans have gotten the message loud and clear that comprehensive solution to the looming fiscal cliff will need to be a bipartisan solution. No comprehensive agreement can pass either chamber without both democrats and republican votes. Which means any solution will have two ask the most fortunate to pay a little bit more. Nothing that has passed the house of representatives fits that task. Nothing. A few days ago president obama and Speaker Boehner. Poised to strike a grand bargain. We have heard that before. They resorted to political stunts. That stunned fell flat. It is time for the speaker and all republicans to return to the negotiation table. We have never left, mr. President. It is time for republicans to work with us to find the middle ground. Mr. President , the fiscal cliff needs to be a voided. In the meantime, the speaker should bring the tax cut passed by the senate five months ago to the house for a vote. We know it would pass. All he has to do is let democrats but with some republicans. It will pass. The clock is ticking. There is still time for the speaker to hit the brakes and avoid that cliff. We do not need the thelma and louise production over that cliff, mr. President. They need to work towards a compromising agreement. That agreement should be comprehensive. If republicans truly want to make sure families do not go up with their taxes, they should pass the senate bill. You work for a day or two and see if you can bring that up so it would not pass. That did not work either. Americans are not fooled by the speakers ponied, procedural excuses. They are part of excuses. They expect action. I say to the speaker, this is not a game, it is not scoring political points of putting wins on the board, there will be very serious consequences for many of families if Congress Fails to compromise. It is time for the speaker to return to the negotiation table ready to compromise. It is time for the house, especially House Republicans to remember what is at stake. I repeat. Further 50,000 program would pass overwhelmingly in the house. It is up to the speaker to let that occur. Melissa that was harry reid speaking on the floor. He was criticizing Speaker Boehner. We are waiting for Senate Authority leader Mitch Mcconnell to take to the podium and ressond to that. He is up at the podium. We will listen. Here with the leaders of the democratic party, here in the senate, other than the president , these are the folks with the greatest responsibility for protecting the American People from the tax hike in america. What do they do, they stand in front of the cameras and laugh. They giggled at a bunch of bad jokes and planned they did not do anything. They would not vote for this bill. The majority leader about you would ignore it if it made it out of the house. The president vowed that he would veto it if it made it out of the senate. Democrats spent all day yesterday, literally, all day yesterday, defeating a bill that would have made current tax rates current for more than 90 of americans and they laughed about it. Ten days to go until the fiscal cliff and they laughed about it. I do not know if anyone has looked at a calendar lately, but we are about out of time here, folks. The u. S. Economy is at stake. Million upon millions of families are counting on us to do something. It is tte president s job, it is his job, to find a solution that can pass the congress. He is the only one that can do it. This is not John Boehners problem to solve. He has done his part. Mr. President , how about rallying your party around a solution. How about getting democrats to support something. We simply cannot solve the problem we face unless and until the president of the United States either signs no will or develops the ability, the ability, to lead. This is a moment that calls for president ial leadership. That is the way out of this. It is that simple. Does anyone wonder why we keep going from crisis to crisis around here . Anybody that is a pattern . This should not be a crisis. This is an opportunity. The president again ignored it. As i said yesterday, i think it is obvious at this point that the president wants to go off the cliff. I know most of the American People do not want that. Today, i will make an offer. With ten days to go, we have an obligation to act on something, something that can pass the house and the senate. If the president will not propose it, if democrats will not propose it, i will. Earlier this year, the house passed a bill that extends current rates on everyone for one year. One year. It has instructions for expedited, comprehensive tax reform by next year. We can bring up this house passed bill. If the majority leader has a plan that can get 60 votes in the senate, break through the disarray his own caucus and build bipartisan support, offer that. Offer that as an amendment and then lets go. Lets vote on amendments from all sides. Then, lets go to conference with the house of representatives. They have already passed a bill, one that i support, to pass a hike on all americans. Lets get this done. It is called legislating. That is what we used to do in congress. Now, democrats may be popping champagne corks today about bringing down plan b. All their effort to do so yesterday, will not protect a single taxpayer from a massive tax hike in just a few weeks. The American People are waiting. Surely, we can do better than this. Lets do it. Melissa that was Senate Minority leader Mitch Mcconnell. He said he is making an offer to legislators saying lets pick up the bill that extends all of the tax breaks through the new year and then once we get into the new year or for one year and then will we get into the new year, lets take a serious tax reform. Heavily criticizing the president there. Accusing the president of wanting to go off a cliff. Right before that, we heard harry reid criticizing Speaker Boehner. We are getting closer and closer to going over this cliff. There seems to be a lot of fingerpointing there and not a lot of resolutions. The s p 500 trading down. Off the lows. Market participants very concerned that we are not getting close to a solution as we stand just ten days away from going off the cliff. Also ahead, what is on your list for santa . Lower gas prices . Tom kloza says that maybe under your tree. They spoke over 12 for the last month. Will people like the new one dollar a message plan. Take a look at metals as we head out to break. Metals trading higher as investors are fleeing to the safe haven that rattles can provide. Of almost three quarters of a percent. Do not go away. We will be right back. [ woman ] ring. Ring. Progresso. I just finished a bowl of your new light Chicken Pot Pie soup and its so ch and creamy. Is it really 100 calories . Let me put you on webcan. Lean roasted chicken. And a creamy broth mmm i can still see you. [ male announcer ] progresso. You gotta taste this soup. Tdd 18003452550 after that, it on to germany tdd 18003452550 then tonight, im trading 9500 miles away in japan. 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Melissa welcome back. Investors looking nervous. As they do every 15 minutes, lets chat the markets. Nicole petallides is on the floor of the new york Stock Exchange. Nicole the Dow Jones Industrials are down. Not one of the energy names have an up arrow today. There is a lookout merk oil. Down 2. 3 . That is something they have been working on. However, at the same time, you can see the Group Continues to sell off. There is so many worries about washington. The truth is you are seeing selling across the board and the financials continue to be under significant pressure. That to you. Melissa the nra is speaking out today. Violent video games and movies share blame for such a tragedy and calling for armed police and such schools. They are already in some schools and school systems. We decided to figure out what would this cost. Fox business has determined if he were to put an armed Police Officer in every private or public school, it would be roughly 5 billion to taxpayers assuming the Security Guard is making an average of 34,000. Wayne from it nra had the press conference where he called uuon all kinds of issues, but made it very clear and simple. The only way to stop a monster from killing our kids is to be personally involved and invested in a plan of absolute protection. The only thing that stops a bad guy with a gun is a good guy with a gun. He also went on to talk about the need for hollywood to accept some responsibility. He actually recalled a game called kindergarten killers. Everyone knows grand theft auto and mortal kombat. There is a big discussion that has to be going on. There is one who says she does not agree, but does support trained armed officers in schools. Melissa some say we need to walk schools and keep them safe. In this school, the school was locked. They broke through a window. I will not weigh in what works and what does not work. Keep in mind, the reason schools open is because of the fire tragedy in cleveland ohio. Kids could not get out. There are consequences to every measure you take. You have to be careful as to what you do. Wayne lapierre calling for armed guards. He does not say exactly armed guards, he says trained Law Enforcement personnel to protect our kids. Melissa everyone always looks at ways to stop it from happening again. Adam shapiro, thank you very much. Phil flynn is live at the cme next. We are waiting for the president at 1 30 p. M. Eastern. We will listen in. We will bring you his comments live as soon as they happen. First, i want to show you the dollar. Looking more and more likely we are going over the cliff. The dollar is stronger against the euro. The pound is weaker against the yen, but stronger against the canadian dollar. We will be right back. The local 20 minutes past the hour your fox news minute, president obama will nominate john kerry as his pick for secretary of state today. The president is scheduled to make that announcement a few minutes from now. It confirmed he will replace outgoing secretary Hillary Clinton, nomination represents his first move in administration over all over the second term. The u. S. Ambassador to russia says he is concerned with the kremlins response to u. S. Human rights law. The Russian Parliament voted overwhelmingly to ban americans from adopting russian children. To impose visa band and asset freezes, and north korea detained an american citizen, the rogue nation unspecified crimes we are awaiting president obama, expecting him to speak in a few moments. We are keeping a close eye on it. What we say about the fiscal cliff. We will bring that live as it happens but in the meantime it is not just Energy Stocks getting hit by the gridlock, Oil Prices Tumbling on track to snap a five day rally. Phil flynn of Price Futures Group is in the pits of the cme. Whaa is going on down there . Traders losing confidence in the economy and washington and the planet . Phil i dont think they have confidence in washington to begin with that theyre losing confidence that we can get a fiscal cliff deal done. With plan b failing pretty miserably, a lot of traders cant see a scenario where this can get done. You can bet theyre going to see what the president is going to say because that is a major market lower. Look at oil, this morning we are above 90. Yesterday looks like we are on our way, demand should be Getting Better and economy Getting Better and throw everything out of the garbage, we are down 1. 56. What adds to the negative momentum is reports from the petroleum institute, the month of november, u. S. Petroleum use was at a 17 year low. That is minuscule to what we were doing during the years a few years ago. Futures are down today rallying quite a bit. U. S. Gasoline use is up until this year at the lowest level since 2001. That is a pretty incredible number. Oil production in the u. S. Is at the highest level since 1995 so we have more production. Less demand, and that is weighing on prices. We are a futures markets. We have been rallying, and if we go off of the cliff very bearish. Cheryl thank you so much. John boehner gaining plan b from the house floor do house votes, what is their next step . Peter barnes at capitol hill. What a mess. Lots of finger pointing, because theres no deal to avoid the fiscal cliff, and dipped into senator harry reid on the floor of the senate, he calls plan b phony and said the way to fix this and avoid the fiscal cliff is for the house to take up the bill the Senate Passed in july, that would extend the bush tax cuts for everybody making 250,000 a year. John boehner in his press conference said that is not going to happen. On his side, the senate should take up the bill to extend the house in august to extend all the george bush tax cuts for every one and use that as a starting point and the republicans still want a deal with tax reform and significant spending cuts. What the president has proposed wont do anything to solve the spending problem. More spending and tax hikes for the economy and simply wont be honest. With the entitlement reform and the big issues facing our country. After plan b failed the white house put out a scent that statement saying the main priority was to in short taxes do not go up in a few short days. The president will work with congress to get this done. No one is talking to anybody. Liz it looks like an absolute circus. You were on the grounds talking to everybody off camera and have been there for a long time a you know everyone. What are they saying on the side about what they think is going to happen . Are we flying off of the cliff . What are they saying on the side . I have been asking members on both sides what is next. Can they avoid the cliff . Some are saying no, the president wants to go off of the cliff because some republicans are saying it strengthened his negotiating hand, some others think perhaps if the senate bill for extending cuts under 250,000 comes over to the house there could be House Democrats vote for that and need 25 republican votes to pass that and make that the law so cheryl is that reasonable . Could that really happen . I am so silly, when i was listening to the last to speeches, are they proposing actual things