people wondering where it was going to go. gets a little bounce. we'll see where it goes from here. where we go next is the final trades. >> facebook i'm staying with it. >> josh. >> xle up 10% trim some profits. >> facebook as well. >> invest like a monster.com. our conference out in las vegas, march 13th, 14th, great stocking stuffer. >> great note to end on. have a great weekend. that does it for us. power begins right now. >> and we begin this hour with breaking news, in 30 minutes time president obama will give a wide ranging news conference. it's been a week filled with major news from cuba to north korea to hollywood. i'm tyler matheson. thank you for joining us. sue is out. simon is at the nyse. >> as soon as the president speaks we'll take everybody live to the white house but first let's get to the breaking news regarding the hacking attack on sony. julia is live in l.a.

we also have aman. what do we know now from the fbi. >> what we know now is the fbi is attributing this attack to the north korean government and what the fbi said in a statement is we can conclude that the north korean government is responsible for these actions. the fbi also putting out some of the details of why they know that but they say they're not going to put out all of the details for fear of betraying u.s. intelligence secrets here as they reveal exactly what they know about north korean computers and capabilities. another interesting nuisance in this fbi statement is the praise here that the fbi has for sony in particular in the way it's handled this. take a look at the statement. they say sony reported this incident within hours which is what the fbi hopes all companies will do when facing a cyberattack. sony's quick reporting facilitated the investigators ability to do their jobs and ultimately to identify the source of the leaks. two things going on.

one is that the fbi and sony in this investigation particularly in the early stages now are sort of joined at the hip on this and the fbi wants to send a signal to sony that they're praising them publicly and also a signal to other companies in the united states. the fbi wants to work with you and wants to work with you very early on in the process. they want that message to get out to corporate america as well simon. >> meanwhile, the hackers sending a new threatening e-mail to sony. >> that's right. sony executives received an e-mail last night reporting to be from the hackers saying they'll back off if sony does not ever let the movie out. the authenticity of who has sent this message has not been verified but the message said we want you never let the movie released distributed or leaked any form saying it's very wise that you made the decision to cancel the interview. it will be very useful for you. we still have your private and sensitive data. we insure security for your data unless you make additional

trouble. >> in light of the fbi announcing the north korean government was behind the attack they called it a despicable criminal act saying this is about the fact that criminals were able to hack in and steal what has now been identified as many times the volume of all of the printed material in the library of congress and threaten the livelihoods of thousands of americans that work in the film and television industry as well as the millions that simply choose to go to the movies. seth r sethrogen and james franco have been mum. sources tell me they're having conversation with the studio with sony about what happens now. >> thank you very much julia. we appreciate that report. it's been a busy, busy day on news regarding sony. we expect that the president may well be asked about it in his press conference in some 27 minutes from now. meanwhile let's turn to the oil sector as oil moves up a little

bit earlier from today. mike kelly is with global hunter securities. mr. kelly good to have you with us. >> tyler thanks for having he many. >> we're driethed to have you here. i guess one of the stories we're following is by how much and how quickly might some of the drillers pull back their production and exploration in light of these lower oil prices. what do you say? >> we're starting to see a lot of announcements come out this week. it's been a busy week with producers listing their 2015 cap x plans. it's a 20% pull back in the budgets. >> so what does that mean in practical terms for some of the drillers and will they find their bottom line stressed? >> yeah. >> well in tract cal terms it means that these guys are facing the reality that their projects, a number of them don't work at

$50 oil or $55 oil. so what these guys are doing are basically cutting their marginal prospects. every one has a portfolio of assets and they're cutting their least economic place here. so it's a little bit scarier when you do that though because you're basically stopping drilling. you are potentially going to have your production start to go on decline. >> mike we're going to interrupt for just a second and go to dominic chu now with a news alert on how oil is -- how the plunging prices are impacting growth in the sector. >> all right. so first of all as you look at what's happening with the oil trade overall it has been a volatile trade over the last couple of weeks. you can see they're up about 3 and 3.25 of a%. also taking a look because baker hughess released it's poll of the number of active wells being used in the u.s. and canada right now. it turns out for this week according to baker hughes the

active count the united states declined by 18 riggs to a total of 1,875. the active red count in canada declined by 40 riggs to 391. so the total rig count is 2,266. what we will show you also is again this has been a steady decline over the course of the past five weeks and the number of active riggs in north america. however if you look at it long-term over the last decade it hasn't been that big of a drop off. we saw a noticeable one during the financial crisis. >> thank you very much. back to mike kelly manager and senior director with dploebl hunter securities. his numbers confirm what we were just talking about and that is that there is a bit of a pull back.

and second get your thoughts about and times of stress can be times of tun. maybe you have names that might be worth a buck or two. >> it started. did decline of the rig count is starting. we expect at least a 20% pull back when all is said and done and the way to play this is to focus on the companies that have core acreage. there are select names here that will be winners at a lower price environment. $50 oil is not going to scare a number of these companies a few names we like, cinergy. >> thank you. happy you stayed with us for the brief information. >> president obama likely to address the north korea hacking story in 23 minutes time when he starts that news conference obviously also on deck will be a lot of questions about cuba, a

lot of that as far as many people are concerned. our correspondent is live in havana with the latest as we count you down to the news conference. michelle. >> yes, simon remember the key things he announced are reduce travel restrictions for americans that would like to travel to cuba. there's not going to be a wholesale lifting of restrictions but it's going to be easier. increased allowance for remittances. and it's going to be easier in terms of u.s. exports to cuba which are allowed. easier payment terms for the cuban government to make those payments. now more than half a million americans actually travel to cuba every year under the travel license that already exists from the u.s. treasury and we ran into one tour group in our hotel actually this morning. they were all here when the big announcement happened earlier

this week and they said everyone was elated. all the cubans they saw were really quite excited about this but they also think that cubans living here in cuba might be disappointed about the pace of change that comes as a result of the change in relationship. >> the people are really expecting a big change in a hurry and i'm afraid they're going to be disappointed. >> one of the other changes announced by the obama administration is for allowing more export of telecom equipment to cuba from the united states. anybody that travelled to cuba from the u.s. should remember that when they come here no e-mail you land your phone doesn't work we don't have e-mail all day long when we're working. only back at the hotel in tourist hotels in the lobby in most cases.

they're also continuing to rebound. one sector that has a big boost is housing. diana is in washington with more on that. >> no question lower gas prices are a boost to both consumer spending and consumer confidence and that's all good for housing. we're out here in rockville maryland. just the edge of the d.c. surveillansu suburbs. people feel better about their finances. how much better? they ran the number with gas prices down 23% they estimate that adds about $100 in monthly income to the average american's pocketbook and that translates to an 11% boost in purchasing power on a starter home not to mention mortgage rate versus fallen in response to lower oil prices. as for building materials everything from asphalt to shingles to paint to pvc pipe

petroleum based products smaller builders don't expect to see it passed on to them but they told me earlier this week that if prices stay low long enough he does expect to see prices go down for building materials all of this runs on gas and everything you see here. the builders are already seeing savings. more online realty check.com cnbc.com. >> thank you for that 19 minutes until the president speaks. let's get a market flash now. >> simon big oil companies are moving on the back of higher oil prices. exxon mobil shares as well as chevron has some b.p. all to the upside you can see there. as oil prices are rebounding at least for today the oil stocks are following suit. back over to you. >> thank you. you know what a rally we have seen in the last couple of days. it hit it's low for the month. the dow and the s&p up 4%

beginning wednesday into thursday. do you trust this recent rally? go to cnbc.com/vote and vote. let us know what you think. power back in two. ♪

make the best entertainment part of your holidays. catch all the hottest handpicked titles on the winter watchlist, only with xfinity from comcast. at the end of a very very busy week in the markets and for the administration president obama will hold his final press

conference of the year 15 minutes from now and we'll take you to the white house the second it begins. meantime nike shares not seeing a boost after reporting earnings yesterday that beat expectations. revenues coming in 15% higher year over year. there you see the stock down 2.75% today. coverage on grubhub with an outperform rating a day after the food delivery service saw an upgrade from goldman sachs. they reported even it's own guidance. it's cfo announces plans to retire. simon. >> hey tyler, we have steadied here on the stock market after that phenomenal 700 point rally in the dow over just two days. bob has more. >> well, it's an indeterminate day but there are certain sectors up but certain sectors really struggling today.

nice little moves up continuing and buying interest. some of the big names, this sen couraging because a lot of the short covering that happened the last two days would be exhausted by now and this might be some real buyers actually stepping in. banks are the problem today. the financials are not really contributing to the rally in any significant way. there's not big drops but there's no real energy and surprisingly not a lot of volumes in the banks. not sure why that's happening but nobody can give me clear indications. it seems to be lack of energy there. last ipo of the year happened on the nasdaq today and it was a doozie. they priced at 24. the price talk earlier in the week was 15 to 18. look at this, $38. i kid you not it was 15 to 18 and this was 38. this was one of the biggest exemployes i've seen in a long time.

this is one of the biggest years we've had ever in ipos. the biggest since 2000. went out on a bang. trader talk for my summary of the year and 2015 ahead. the s&p up 4.5% in the last two days. it only happened 11 times since 1990. three months later the s&p was positive 8 of 11 times and three times it was negative and twice during the financial crisis and if you take them out normally whenever this happens, s&p is higher three months later and in some cases most cases double dimts higher. >> interesting. >> very unusual occurrence here. s&p up up 4.5%. >> thank you very much. >> so we're watching shares of buffalo wild wings here. the stock is moving higher after

analysts set a $203 price target. they believe it has the opportunity to see long-term growth heading into next year. buffalo wild wings up by 2% over to you. >> thank you. to the bond market now. tracking the action. hi rick. >> what a difference it makes. if you look at a one day and two day of 10 yield versus moved a bit but in the context of yesterday it puts perspective. do keep in mind if you want to see what's going on look at a chart studying on the 14th of october. you see that first point on the left. that was the 5th, that wild session closed at 214. i continue to say that traders look at that as home base and keep in mind basically at that tuesday level of 59 basis points equaling the lowest points ever there's a big draw. look at a chart going back to august of 2012, the euro making fresh passes of weakness against

the green back. simon it's all yours. >> it's been a wild week. thank you for that. the dow and s&p up a full 4% since wednesday. do you trust the recent equity rally. we're counting down now to the president. his news conference and many many things to discuss, cuba and what would be an appropriate retaliation to north korea on the sony hacking in now 10 minutes time.

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because health is everything. we're tracking bio tech names here. veritex is up near 4%. the btk index as a whole up near 1% today. on the down side we're watching them taking a hit, nxp and heading into super saturday consumer needs to the down side. look at mattel down 5.5%. gar men near 2%. overall we're in the green here. >> thank you very much. overall the stock rally fading after the massive two day run that saw the dow jump 700 points. what does next year look like now? the feds saying it's willing to be patient. casey nixon is the chief

investment officer for northern trust wealth management. we're talking high network individuals here. >> we are. >> there's so much going on with the price of oil and the feds the rally or not the rally. now that the dust is settled what are you saying to people? >> what we're actually saying to people is expect more volatility going forward and we think about what drove the recent volatility, concerts about the fed and oil and geo political risk and questions about what the ecb will do and when. those are going to stay with us for a little while. >> where are you telling people to go and even the high yield bond market represents a good value. >> you know better than us it's pulled back because about 20% of it is exposed to the energy sector. it will tell you the price of oil as coming down. where does that go from here?

particularly if the fed is going to start raising rates at some point. >> it's economics 101. it's around supply and demand and it's an oversupplied market and i would expect to see prices hovering around 60 where we see them right now but when you think about high yield bonds the underlying assets are in the energy sector. we have a historical precedent of a 80% default rate and we're talking about a 60 basis point hit to the high yield bond market. that's a pretty good return. >> what is the major catalyst you look for next year? either on the plus or negative side. >> on the positive side continued strength in fundamentals. on the negative side continued worries about how the market will adjust to central bank transitions. we have been in the direction for quite sometime. that will change next year probably in the late part of next year but it will change.

>> in other words you think the market will sell off? >> it's interesting look at what happened with the first temper tantrum. the fed learned quickly that communication is paramount and i think the way they nuisanced their message is a lot of volatility around the rate hike. >> thank you casey. tyler. >> simon thank you very much. we have about five minutes to go before the president meets the press at the white house. he has a lot to talk about. many questions will come his way. cuba, north korea, russia, the american economy. we will carry that press conference of course live as soon as it begins. we'll be right back.

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and welcome back everybody. our breaking news at this hour is the president and his final press conference of the year. it's an annual event year end conference set to begin in about two minutes from now. he might not hold right to that number. a lot to reflect upon and face as we normalize relations with cuba. a deal from north korea into sony's computers. ferguson, missouri, immigration, the economy, there's plenty to talk about right? >> tyler i think the president

is going to be approaching this news conference in a pretty cheery mood especially given the political beating he took earlier in the year losing control of the senate but look what's happened. significant change in immigration policy shielding millions from deportation. he announced the climate deal with china and 300,000 new jobs added which was a sign that the recovery from the great recession really arrived to stay and all of those things i think makes the president head to this holiday vacation in a good mood even though when he comes back after knew years he's going to have to deal with mitch mcconnell and john boehner. >> can i pick up two of those unilateral actions, the orders he made. one is immigration and the

second is cuba. what do we expect him to say about potential cooperation from the gop which of course has many many angry voices seeking to derail in many ways. >> i think the expectation for cooperation and compromise with the republicans is very low. perhaps on trade deals. he's negotiating with specific trading partners as well as with europe. those are ways in which both parties could come together. loc long shot hope of corporate tax reform although i wouldn't hold out tremendous expectation on that front. he is saying there are things that he can do as he is just shown in the last month that if he can simply keep things as smooth as possible with congress even if a lot doesn't get done that he will sprint through the tape and finish his presidency in a strong way. >> one of the topics that was a tremendously hot topic one year ago and not so much today is the

affordable care act and business and individual compliance with it. what do you look forward to on that front in the new year with a new congress. >> well we have a supreme court case which poses a significant threat to the subsidies available on federally operated exchanges. if that goes the wrong way then you have a major political problem that would land in the administrations lap and congresses a lap and they'd have to figure out how to work it out. republicans are of a mind set to try to move past the affordable care act although they'll go through the motions of repeal votes they're looking at 2016 how they can pave the way for republican presidential candidate and how they can achieve their priorities like tax reform if there is a possibility of working out a deal with the white house. >> there's no chance in the fact i guess that the fbi has said just within the last couple of hours that it does believe that north korea is responsible for

the attack on sony. there will be a proportional response. what does that look like for north korea? >> that simon is the greatest potential news we can get out of this news conference is hearing from the president directly on what proportional means to him. i wouldn't expect him to layout what the united states is going to do and they may not have stieded what they're going to do but once the united states government has come out and said this was a sovereign government that undertook an attack on a major u.s. subsidiary on a business and u.s. arts and entertainment industry i think that compels a response from the united states and is that a counter cyberattack? is it some sort of additional sanctions beyond what we have? is it criminal prosecution? we don't know but all of that is on the table and we need to hear

from the president. >> my idea is to send dennis rodman over there. he'll solve it. more seriously here as we talk about this attack on sony have to think there are a lot of american ceos on critical infrastructure related companies like electric power and telecommunications that are shuttering and assembling their i.t. specialists today all week with this in mind. >> i think sony was of a different type and that's what is so alarming about it. a lot of ceos i talked to are used to the idea that we're underattack. they'll steal our data and they'll have economic advantage over it but this sony attack with the number of personal e-mails that were involved was a different type and different level and this new statement this morning by whoever is responsible for this form of extortion if you do not release the movie we will not harm you

any further if this doesn't require -- this is a whole new level of threat and it requires a response not just by sony but the united states as well if it's determined a government was involved. >> more than just retaliating against north korea there is a bigger issue here. jamey diamond at j.p. morgan appealed for some form of help from the government. are you aware of any plans to work more aggressively in general against these attacks using the various security services to a extend at the corporate level. >> this was a very good week for people selling counter terrorism in the cyber fell m to the government and outside of the government. so yes i would expect a very

lar lar large racheting up and i also agree with bob that i think the nature of the dialogue we're getting in the back and forth is almost going to compel the release of this film in some fashion. i don't know if that's netflix or youtube or something but i think that you're likely to see it available in some platform before long. >> the united states government considered simply buying the movie from sony i think it was 40 million or so and releasing it under some kind of general license. something like that certainly is definitely what i agree with you. they simply say we're not going to release this movie and give into these demands. it's a level of extortion. >> i'd be surprise first degree the government lays out $40

million to buy the movie. >> i would be surprised but you get the gist of what i'm saying. that's an idea that should be floated around. >> by lots of measures it's doing well. growth is good inflation is low. employment is up. >> is president getting the kind of credit he would like for the economy because his popularity numbers are still very very low. >> no i think part of that is the president's own message. he said we need to recover from the great recession but we need to lift the long-term living standards of middle class families and even though the economy is doing well he's clearly not accomplished the latter goal and that's where the entire political system is turning now both in terms of the 2016 campaign. you're going to see an accelerating dialogue within the republican field and hilary

clinton, other democrats that might run and within the white house about okay unemployment is down. we're doing better. we're growing again but we still have not figured out how we can raise the incomes of the average worker. that job is still on the table and as long as it's on the table i don't think people are going to be giving credit to the president or congress or anyone else. >> some would say the message throughout the last six months has been that most people want a change in direction. is he able -- i appreciate the executive orders that he has come through with but is he able to actually muster a changing direction that would be to perhaps encourage more people that things are moving in the right direction or is he truly a lame duck? >> well i think it's harder to throw around the term lame duck given what we have seen over the last month. he has gotten a lot of things done. i don't think given his philosophy or the philosophy of republicans in congress that

there's a lot of common ground that they can arrive at. maybe something on infrastructure in conjunction with corporate tax reform. both of those are long sots if you're talking about a large ramp up of government spending on infrastructure. the president's belief as he articulated after the election was that he has a substantial constituent sy on the issues and a lot of people that didn't vote this year are with him as evidenced in his re-election victory and say i heard the people that didn't vote. i don't expect him to change in a fundamental way or republicans to move toward him. >> so just to logically work along what you have said do you believe that for example the changes of immigration will be sustained despite the clear legal challenges that some of the states have and already some judges saying it is beyond his

executive power. do you believe similarly that what he has announced on cuba has staying power where of course he can't without congress allow americans to travel freely. he's going to ignore the fact that they may be traveling outside the existing parameters. >> yes i do. president of the united states though he can be overruled by congress, he can be overruled by the kours. he can be reversed by his predecessor there is a tremendous first mover advantage to coming to setting the terms of engagement and debate. so by letting out this immigration order then the president requires a successor. let's say it's jeb bush or chris christie or rand paul or whoever on the republican side if they're going to reverse that order they would assume substantial political risk in doing so and for that reason i think that the immigration order is likely to stay. i think the affordable care act is likely to remain and the cuban decision is likely to say even though people like marco rubio say i won't fund the

embassy and confirm the ambassador it's difficult to move back. >> with these dramatic actions john i think of the phrase lame duck and obama is saying i'm not lame and you guys had better duck because i'm going to move. what is the political calculus. what is the political calculus on immigration and cuba. do the democrats believe this is a net win for them. >> yes in the case of immigration clearly latinos are the fastest growing segment. they favor democrats. republicans need to reverse that the more difficult that is the president of the united states while vowing a review of the policy won florida twice the cuban population itself in

florida. >> john forgive me for interrupting you. we have breaking news. >> you guys have been talking about what the united states can do to respond to the cyberattack. now reuters out with a new report saying the united states consulted with japan, china, south korea and russia seeking assistance in reigning in north korean cyberattacks according to reuters sourcing a u.s. official on friday. the officials saying the united states is working through diplomatic channels to register our concerns and ask for assistance here. clearly interesting that in the fbi's statement they referenced north korean attacks on south korean banks so clearly there is an effort behind the scenes here by the united states to sort of put a ring around north korea diplomatically and get a lot of countries involved in whatever the response is going to be. >> it's a multinational response they are spear heading here rather than turning around to this country's security services

and saying we unleash the hounds. >> interesting that they would invoke russia here. there's a lot of complaints about russian cyber activity and the united states has sanctions imposed on russia now and the united states has complained for years about chinese cyber hacking so to reach out to the chinese is an interesting move by washington. >> is there a sense here that the administration is trying to say with all of the cyber hacking that exists among governments sony is a step too far? it's a step beyond even what government cyber hacking should be doing? >> it's interesting. it's goes to this point that previously what we have seen from nation states has been spying and stealing. you spy on the other companies and intelligent services you steal information but you don't destroy things and you don't tear down companies and

infrastructure in the other countries. so that's why the sony hack goes further than i've seen before and maybe something other countries will have an interest in putting a stop to. >> what's different is the idea this began with a hack but it progressed very quickly to blackmail and threat. and that's why you put the two together in a way that. that's why this stands out as a different order of making which american companies have been subjected to those from around the globe. >> you're exactly right. it's not the scenario that the united states has war gamed out extensively. they expected cyberattacks make be something to hit the pentagon or financial markets or critical u.s. infrastructure but to pull hollywood studios e-mails and have a devastating impact on a hollywood studio and hit a core

american principle like freedom of speech wasn't in a lot of the play books so there isn't really a developed response plan sitting on a shelf somewhere that they can pull down and say this is what we're going to do. all of the options here for the united states are very very tricky including retaliation in full cyber war fashion against the north koreans because united states company versus a lot more at stakes here than north korean industry does. >> just thinking. let me come back to you on the idea that diplomatically they're going to reach out across asia and in particular to the chinese to consult on what they should do with north korea. am i right in suggesting that in the past china has to an extend stood by or shielded north corr korea and if you were going to do anything to that country you'd have to get the chinese first and this may be a precursor to something else. >> the chinese sometimes shield north korea and sometimes

they're slow on reacting and other times they act on behalf of the united states and put the bre brakes on things. the one other point i wanted to make is we can fail to mention that the united states through the program inflicted serious infrastructure damage on iran and there is some precedent for that. that's part of the policy. it has been done. >> but given that john do you think given that fact, that the united states the united states could possibly create some kind of coalition of nations that have some kind of standards for cyber spying in some way? it seems very unlikely at this point. >> sure.

>> you can see standards or somethi something. our adversaries in an aggressive way but the question is how effective would a pact among our allies be in stopping what the north korean versus done in this case. >> guys to john's point there it was just a year agatha the united states actually indicted five chinese military officials and said they were involved in cyber tacking against the united states and the united states and china has been on going although very subtle and not with this level of damage politically and economically visible as we're seeing in the sony attack. >> exactly and to his point remember when he came to california in 2013 the president was going to raise the chinese cyber hacking in a serious way and then the nsa disclosures came out and that hamstrung his

ability to confront the chinese. we had enough time pass that those efforts are going to accelerate now. >> can i ask you a question on the nsa specifically then because international politics aside there's an awful lot of people on the revelations from snowden that might say politically this may be an issue for mr. balm ball bobama but if to reign them in as many people would want them to then the quid pro quo is they should be acting in this event. they should be acting. is that politically domestically an issue for him or is it too small fry. >> well i don't know how direct the connection is but i'm pretty confident that the nsa is not just under this president but under other presidents is vigilant to national security threats of various kinds including attempts to disrupt commerce and industry. so i think that is part of the

package whether that part will change or become -- receive added focus it may but i'm not sure. >> the united states does have the capability to get back on a cyber way in essence fry the computers that the north koreans use to carry out this attack or were involved in this attack in some way. the question is whether or not the nsa and united states want to do that because the scale of the counter attack then, the reprisal attack could be enormous and extraordinarily damaging for american countries and they're to blame but the fbi has given that to us.

who all was involved. >> that's one of a myriad of possibilities out there now. what the fbi is not doing is giving us the specificity of what happened. >> if they can show they're somehow working for north korea and motivator paid by them that's all that's going to matter. >> that's absolutely the right point bob and that's exactly what the united states government has concluded here is the north koreans however it was carried out whoever was all involved maybe unclear or unreviewable at this point but the north koreans were responsible for it and that suggests that the u.s. government is going to have to take some kind of action.

>> let's bring in julia from l.a. she of course is also covering the sony hack story from a much closer proximity and we should remind everyone julia that there's been a further threatening message toward sony presumably from the hackers though we're not sure. >> that's right. absolutely. sony executives did receive another threatening message and it's been really interesting that there's not been a comment from any of the other studios on this. i reached out to every other studio. everyone says no comment and i think everyone is really waiting to see what the president says. aman has stressed several times the crucial nature of the fbi statement and they said sony has been a partner to them on this. choosing not to release this film fbi wants to encourage people to come forward if they have been hacked so now the big question is has sony done the right thing by not releasing this film and we'll see what the president says about that but it

seemed like the fbi did want to align itself with sony and the next of the movie industry and entertainment industry wants to see what they can do now. >> we have this additional blackmail and you cannot release this movie even under some dvd or any other form at all. sony is in a bad position at this point. i can't see how you wouldn't have to find some way to release it somehow and address that issue. you can't just simply oh i'm sorry we'll agree with whatever you want. yes, we're very sorry. as of wednesday sony decided not to release nit theaters and then the e-mail came in late thursday night to sony executives saying we are pleased with your decision not to release it and

if you do release it more bad things will happen and that's a summary there. now sources tell me that sony is still investigating the source of that e-mail and whether it could be authenticated as from the hackers but they made the decision not to before the latest e-mail. is there going to be any release of the film? it's way too soon to say but at this point they're probably dealing very closely with the department of homeland security to figure out what they should be doing. >> julia when you read the statement that had been sent to sony i guess you did it in the last hour or so, it was crudely written. it was and ham handed and it didn't feel in anyway -- one of the fbi said the north korean government is responsible for these hack attacks. it may not be the north korean government that actually carried them out. these may be as everybody is

pointing out freelancers backed by and supported by and doing the work of the north korean government but not the government itself. >> this is more about the hollywood and entertainment business than i do. >> it's not available to be seen through some electronic channel and as bob suggested i don't think given this, the way this story has played out i don't think it can remain unreleased indefinitely and seen in which the person playing kim jong un gets assassinated. >> here is the president. let's interrupt and listen in to the press conference. >> well, aupt i want for christmas is to take your questions but first let me say a little bit about this year.

in last year's final press conference i said that 2014 would be a year of action and would be a break through year for america. and it has been. yes there were crises that we had to tackle around the world. many that were unanticipated. we have more work to do to make sure our economy, our justice system and our government work not just for the few but for the many. there's no doubt we can enter into the new year with confidence that america is making significant strides where it counts. the steps we took early on to rescue our economy and rebuild it on a new foundation to help make 2014 the strongest year for job growth since the 1990s. all told, over a 57 month streak, our businesses have created nearly 11 million new jobs. almost all the job growth that we have seen have been in full

time positions much of the recent pick up is in higher paying industries and a hopeful sign for middle class families wages are on the rise again. our investments in american manufacturing have helped fuel it's best stretch of job growth also since the 1990s. america's now the number one producer of oil, the number one producer of natural gas. we're saving drivers about 70 cents a gallon at the pump over last christmas. and effectively today our rescue of the auto industry is officially over. we have now repaid taxpayers every dime and more of what my administration committed and the american auto industry is on track for its strongest year since 2005 and we created about half a million new jobs in the auto industry alone. thanks to the affordable care act about 10 million americans have gained health insurance this past year.

enrollment is beginning to pick up again during the open enrollment period. the uninsured rate is at a near record low. the price of health care has risen at its slowest rate in about 50 years and we have cut our deficits by about 2-thirds since i took office bringing them to below the 40 year average. meanwhile around the world america's leading. we're leading the coalition to degrade an ultimately destroy isil a coalition that includes arab partners. we're leading the international community to check russian ag s agresson in ukraine and we're presenting an outbreak from taking place here at home. we're leading efforts to address climate change including last month establish joint announcement with china jump starting new progress in other countries. we're writing a new chapter in

our leadership here in the americas by turning the page on our relationship with the cuban people and in less than two weeks after more than 13 years our combat mission in afghanistan will be over. today more of our troops are home for the holidays than any time in over a decade. still, many of our men and women in uniform will spend christmas in harms way and they should know that the country is united in support of you and grateful not only to you but also to your families. the six years since the crisis have demanded hard work and sacrifice on everybody's part. but as a country, we have every right to be proud of what we have accomplished. more jobs, more people insured. a growing economy, shrinking deficits, bustling industry, booming energy.

pick any metric you want america's resurgence is real. we're better off. i have always said that recovering from the crisis of 2008 was our first order of business and on that business america's outperformed all of our other competitors. over the past four years we put more people back to work than all other advanced economies combined. we have now come to a point where we have the chance to reverse an even deeper problem. the decades long erosion of middle class jobs and incomes and to make sure that the middle class is the engine that powers our prosperity for decades to come. to do that we have to make smart choices. we have to make the right choices. we have to invest in the things that secure even faster growth in higher paying jobs for more americans. and i'm being absolutely sincere when i say i want to work with this new congress to get things done.

to make those investments. make sure that the government is working better and smarter. we're going to disagree but there have to be areas of agreement. we have to make that happen. that will involve compromise at some time. perhaps that spirit of compromise may be coming to the fore. in terms of my own job, i am energi energized i'm excited and not going to be stopping for a minute in an effort to make life better for ordinary americans because thanks to their efforts we really do have a new foundation that's been laid. we are better positioned than we have been in a very long time and the future is ready to be written. we have set the stage for this

american moment and i'll spend every minute of my last years make shurg that we seize it. my presidency is entering the fourth quarter. interesting stuff happens in the fourth quarter and i'm looking forward to it. but you usually get a time-out. now looking forward to a quite time-out. christmas for my family. i want to wish everybody a merry christmas and happy hanukkah, happy new year. i hope you get time to spend with your families as well because one thing that we share is that we're away too much from them. and now and i'm going to start with them.