maria: thank you for joining us on opening bell. >> thanks a lot. i am david asman. stuart is back tomorrow, by the way. making executive decisions involving our economy and national security. let's throw an answer out there. what if he has given up on governing? one of his sole object is for the next two years is setting the table for the next 20 years. it is going to be a bumpy ride.

>> sharpton has a very checkered history. huge sounds on his taxes. i think he is politically this. i do not understand what the president would link himself so closely to this guide. >> charlie gasparino is here. i have had cordial relationships with him. i will say that he is not radio act if with a sizable amount of the population.

he is not radio active with the liberal base. >> sitting next to the vice president. >> i have mixed feelings without sharpton in this sense. not everything he has done is that. there was an incident up in harlem. a clothing store where he stood on the corner. the guys store got turned down right after that. i will just take it in the context of ferguson. he made -- >> , the times has he done that? >> you are right.

he has done that a lot. >> he is the president. he will spend the rest of his years focusing on the base. >> does al sharpton deserve a legitimate seat at the table of the progressive leg? has he thrown gasoline on the fire so many times? >> that is what he is all about. bill deblasio. it was kind of jarring to see how sharpton. it basically equated the police chief with somebody that was a community act the best.

>> he said it in place over the last six years. he is done in two years. how is hillary clinton going to come to the middle? rich edson is following this for us. >> house republicans will vote

on a republican spending bill that will fund the government for the rest of this fiscal year. the republican plan only plans so zach cavities through next year. secretary of homeland security opposes that. >> we are back in a presidential election cycle. i cannot hire new secrets service agents. not another cr for another couple months. >> congress has until next thursday to fund the government. >> thank you. we are slightly off our session highs. we are doing pretty well. the s&p 500 also moving higher.

a little higher percentage wise. oil is down again. national average for a gallon of regular is still around $2. a lot of people say yesterday was just a dead cat mouse. gold stocks with nicole petallides. >> take a look at some of the names that go along with it. gold has been dropping. we have also seen copper dropping. the first is the federal reserve tightening. around mid 2015. a strong u.s. dollar. we talk about gold and copper and metals. particularly, in china.

we have seen copper at four-month lows. that is another thing we have been watching very closely. >> thank you very much. oil is still near ablow. first of all, do you think that they are trying to kill off our fracking industries here in the united states? >> i do think that they are trying. they are not thrilled. they have a lot of reasons to launch this price war. production is a key reason. >> who is strong? opec or u.s. crackers. >> good question. they have a lot of acreage. some of the really great. they could just focus on the really put up this stuff.

there will be a shakeout. this high-yield debt. other bank loans making it difficult for them. >> in the and, while opec succeed trying to drive crackers out of business in the united states? >> the country will continue to produce and move towards energy and independence. >> looking into the future, this attempt to buy opec, it will fail. >> they have their hands full. i do not think that it will succeed. right now we are about 9 billion barrels a day. we will see more production. we just will not move towards energy independence as quickly as we would.

today, it is back down again. not that much, but it is back down again. our oil futures concerned about whether or not crackers will be out of business? >> if we slow our production, it helps prices. i am believing they are really concerned and they will push production for the next six months plus. we could see lower prices. >> when was the last time a cartel actually beat the free market at work? generally, a monopoly is different. this is a group that has tried and been successful sometimes over the years.

usually, the free market wins. they one in the 80s. >> it got down to the teams. it always begins with opec pulling something out of their bag. eventually, you are right, cartels never beat the market. they could turn on the pumps and produce much more. i agree. that would suggest the prices stayed down for a while. there are certain controls. oreo cannot yet be exported overseas. if that happens, what will happen to the price of oil? >> you will get more pressure.

looking for ways to spur economic growth in this country. >> you wrote the book on fracking. has the technology improved to such an extent so that they can withstand prices may be down to $40 a barrel? >> this is one of the most exciting business innovations in this country. yes. they can produce this. i would argue that they can handle the prices. not $40. >> it happens all the time. too much debt when prices start to go down. think about this. what happens to venezuela when prices start to plummet? what happens to putin and russia? this has an incredible geopolitical consequences that

are very good. over the last eight years, the middle class c their wages decline. high unemployment in those jobs right in the middle. guess what, they just got a huge tax cut. it really is an amazing thing. upstate new york. not even touched. >> good to see you. thank you. good to see you. new reports that goldman sachs has been hired by buber to help them raise hundreds of millions of dollars.

two thirds of young people are worried about their retirement. 68% of millennial's field they are not invested in their retirement. steve jobs will testify in court today. we will place some of that for you in the next hour. a senior gop senator telling the associated press that president obama has chosen ashton carter as the nominee to be the next secretary. fox news is working on confirming it. meanwhile, gas is getting cheaper. that means more money in your pocket. with the cost of basic necessities rising, are americans really feeling the effects of the gas price stimulus. charlie gasparino will weigh in on that right after a short

break. stay tuned. ♪

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is. it is just changing a little here and a little there. the s&p up a full half of a percentage point. the only thing that is down is commodities. we have november auto sales this morning. total sales of more than 6% compared to a year ago. ford sales fell about 2% overall from one year ago. chrysler said sales last month rose 20% from one year ago. meanwhile, the big drop in gas prices putting more than a thousand dollars into your pockets. are you going to spend it?

do you feel it? you are paying more for things like healthcare. maybe this so-called stimulus will not help that much. >> more money in your pocket then your otherwise would have. the gas tax, i think the president would love that, is an aggressive tax. it hits everybody the same. one of the best tax breaks you can get. it helps poor people a lot. >> despite this gas bonus, we still feel squeezed. something to do with why sales were not that spectacular over the holiday weekend. >> wages are being squeezed. cost of stuff like healthcare.

>> up 24%. >> my liberal friend -- they were telling me how healthcare prices are going down. it does not quite say it. what is the start date there? >> 2007. 2007 is pretty obamacare. all of the basics, the stuff that you absolutely have to have is going up. >> gas prices being down is so instrumental. >> charlie, thank you very much. that to the breaking news we brought you just moments ago. president obama has chosen ashton carter. not unexpected. if anything, i would think that the president may still have some problems with his nominee.

>> well, sure. chuck hagel left in part because he had some problems with the micromanagement of the white house. if ashton carter is picked, there may be that same kind of give-and-take with the white house. ashton carter is the safe that. expect it to get through a nomination. we are being told that it is him by a couple sources on capitol hill. yesterday, his former chief of staff designed from the commerce department. >> you are always a day ahead of the news. we want to give back to the president pushing his aggressive agenda at all costs.

>> sharpton has a very checkered history. a terrible miscarriage of justice on the prosecutor. he is a tax cheat. i think the guy is politically give. i just do not understand why the president would link himself so closely with this guy. >> this is not about al sharpton. why the president is doing this. he is more interested in setting the table for his progressive agenda than he is and compromising over new congress for the next two years. >> there are a number of critics who say that and are pointing to this incident. the amount of resources, the

amount of fbi agents, the ones that have been put into ferguson in a federal case. all of the evidence pointing that this was not a racial profiling case. this big effort by the attorney general and administration to change the rules, this is potentially a big policy shift. as a result and in the wake of the ferguson situation. >> the president himself is an activist. he is very proud of that. will this take form as he leaves the presidency?

>> possible. in the last two years, you will see an effort to stir up the pace of the party in hopes that they believe they can reinvigorate the democratic brand. the white house, internally, police the reason democrats lost in the mix terms was not because of policy differences or that things were not working, most democrats distanced themselves from the president. i think that you will see more of that play out as he goes head to head with congress on a number of issues. >> bret baier special report post. thank you very much. disney asking kids to chime in on their website what they are thankful for. one girl's post was deleted

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girl visiting disneychannel.com asked what she is nothing for. response, god, her church, her family and friends. when she hit submit she gets an error message telling her to, quote, be nice. after including the word god in her response. listen to what she had to say about that incident on fox and friends this morning. >> made me feel confused about why it wasn't letting me send a message. made me feel a little bit bad because i couldn't write it because god is the reason we have all this stuff that we have. dave: disney has issued a response saying they flagged the word got in their systems because of the potential for profanity. viewers have been flooding her social media comments about censorship and we will give more of that coming that. could former new york governor george attack the be eyeing a run for the white house?

charlie gasparino has the skill. a lot of people don't know louises. >> new york sp governor, three turned and, represents the moderate rockefeller wing of the republican party. a lot of wall street guys like him. i will put this in the snowball's chance in hell category. he will not be president of the united states. won't be the nominee. dave: how does he raise any money? >> he has a lot of connections on wall street. according to people who have spoken recently, he believes he has a shot, he is talking to people. he is approached greenberg about raising money, greenberg is leaning towards doing that. he wants to test into greenberg's circle of friends on wall street which includes can playingone, a major contributor. and also supporting chris christie as well. that is part of hank's circle.

what we understand is hank he is leaning toward helping george pataki raise money. dave: i don't want to throw money away. >> there are lots of reasons why people do things. this guy is a very -- the governor of new york state, hank had a lot of business dealings with him selling insurance in new york state because when he was head of aig, not saying that is why this project but that is where these connections, you can't unravel these. hank might like george pataki, very nice man. but i don't think he is an effective governor. i will say this about two or three months ago i wrote a column about how republicans for cuomo, can lendone supporting the democrat of the republican reselling out cheap. and i mentioned something about george pataki having a couple good years as governor and the rest of it he invested in

interpretation or impersonation of mario cuomo and also rockefeller and he went nuts. one of the reasons he went nuts is he wants to run for president. i think it is delusional. dave: even if you have $1 billion you want to hold on to your millions. more executive board is coming for president obama. fundamentally changing our country despite the will of the american people. is it possible to undo the mess he is creating? judge andrew napolitano taking on both of these issues after the break.

dave: checking the big board. it is off of its highs but still a nice healthy gain on the dow. all the indices are slipping a tad, not too much. the s&p also moving a little higher right now but well over half a percentage point, and oil still near a four year low. that means national average for a gallon of regular still $2.76. let's hope there's more room to move on the downside. 42 states with an average gas price under $3 a gallon. the cheapest gas in the u.s. $2.10 a gallon. this is that the station in

north houston which we imagine is just loaded with cars right now. the chamber of commerce saying too many regulations are hurting the u.s. economy, that seems to make sense. peter barnes joining from washington with more. dierdre: the u.s. chamber says government is offering 2,000 new rules a year under dodd-frank, obamacare, the epa and more and the cost of complying with this regulation is $2 trillion annually, up $200 billion from last year. last week the administration released its annual update on regulations in the pipeline, so-called unified agenda. it listed 3400 rulemakings underway at government relations including a hundred that are designated economically significant meaning they could cost more than a one hundred million dollars a year or could provide benefits of that amount. tom donahue said in a speech this morning the chamber does not oppose all regulations such as those that covers equipment

operations, safe food handling and some that cut pollution, describing them as needed in some cases but it is calling for a common-sense regulatory reform and launching a nationwide education campaign on it pushing three bills in congress next year to reform rulemaking. dave: earlier this hour we heard from bret baier. we will get to that in a second. meanwhile breaking news, major power outage in default. each would public-school dismissing kids early, radio stations are reporting firefighters conducting elevator rescues, the latest in a series of power outages in detroit. this, we are told, is the worst power outage they have had. the detour it struggling to come out of bankruptcy. they have a lot of issues keeping the emergency services at bay in this particular crisis. looking at picture of a building in which there are power outages, we are told people are

stuck in elevators and we are obtaining more information. as we get that information we will give it to you. as i said before bret baier we heard from earlier on the president's latest executive order. take a listen. >> the white house internally believe the reason democrats lost in the midterms was not because of policy differences war that things weren't working, it was that most democrats distanced themselves from the president and they should have embraced him. that is the thinking inside the white house, we are told. we will see more of that l.a. out as he goes head to head with congress on a number of the shoes. dave: judge andrew napolitano is here. the point is this is a president who really doesn't care about compromise. he cares about his progressive agenda come hell or high water and even come a new congress in january. >> bret baier was right on the mark. thanks in weekend one of the president's staunchest

supporters during the first six years of his presidency, n.y. senator charlie schumer, made a public concession the likes of which is rare in this era, of high intensity politics, we were wrong as democrats to focus for four years on health care because -- has make the relieving of a majority middle-class. judge napolitano: they spent too much political capital defeating the republicans on this topic that could have worked with republicans and gotten so much done. that is a direct and profound rejection of the heart and soul of the president's progressive agenda. dave: the president has the tool to promote that progressive agenda, executive borders. the pen and the phone that appears willing to use that. the question is whether it can be undone. what windows by executive order can be undone by a new congress which will include moderate the incredible to call chuck schumer a moderate democrat. dave: compared to barack obama

he is. there is next to nothing he could do that cannot be undone but he could do things that would make it difficult for his successor to undo. if he made 5,000,004 in nationals currently subject to deportation permanent residents of the united states, that permanency would only last until january 20th, 2017, the end of his term. those folks might be still embedded ending created in our society, it it might cut at the heart strings that his successor to undo it so he can create an atmosphere in which it is difficult to undo what he has done. as a matter of law his executive order is only exist for a long as -- dave: the other thing he can do is released on any business's desire to expand. businesses again interaction for all the problems but bite these constant focus is on regulation many of which go over the heads

of congress he can be laid those growth spence in next week to years of his presidency. dave: the ball is back in the court what can they do, do they have constitutional authority to interfere? do they have the political fortitude to interfere? did they want to save their political capital until 2016? the presidential election which seems to be the prevailing in the view among mitch mcconnell and his colleagues and john boehner and his colleagues in the house. will we be suffering through this for the next two years has a president comes his nose to the wishes of a majority, expressed unambiguously and profoundly in the election. dave: almost a suicide pact which is the title of your book. >> it is a suicide pact with the president lets congress destroy the constitution. dave: good to see you. a new fbi warning, cybercriminals are out to get you in the company's you do business with and now they have technology to make it nearly

impossible to recover the information that they stole. no i have $40, $21. could something that small make an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪ hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating,

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goldman sachs, a gee, healthcare, financial doing very well, telecom is the one week sector we are focusing on. chrysler, gm, u.s. sales rose in november, at declined one.8%, decline, the nasdaq is a 0.3%. radio shack halted at 10:00 a.m. claims the capital partners reached covenants on the $260 million term facility and that was wrong and self-serving. more "varney and company" coming up.

dave: we have a situation developing in deep for, power outages, jeff flock is nearby with more on lowe's story. live shot right now some emergency vehicles outside a building where the elevators are stuck. the joint coming out of this bankruptcy, they don't have a lot of emergency services here. jeff: is the detroit public lighting system that has gone down that they're trying to upgrade as a result of coming out of bankruptcy and putting money together. listening to all news radio w w j in detroit, people are trapped in elevators in detroit outside the county building which is the shot you are seeing, the county building, said the county building has been evacuated. the hall of justice, court systems have been evacuated, detroit public-school are shutting down, trying to dismiss

everybody in order refashion but it is a half-day. as lisa lovett rescues being reported. that is the city/county building you are seeing in that shot, the wide shot you see now. recently that center of the troy, the center downtown which is as you reported coming back as a result of bankruptcy. that is the area that is hit. not the outlying area so much. not detroit edison which is a larger part of the city but that downtown area. dave: we are used to these things in the summertime blues sometimes in the winter after a devastating storm. there is no snow on the ground. we are well out of the summer months. what could be causing this? i am asking you to speculate. could be hangover effect from the bankruptcy? >> the detroit public lighting system has been tasked with trying to get this the real live. they have been taking certain areas down to try to get the street lights on and get this he restored in some fashion and

there have been multiple other power outages at the process has been continuing. nothing, however, so far, this big. this is a big one. 100 public customers, the big buildings, not just houses, big buildings with a lot of people in them. dave: thank you very much. first devastating cyberattack at sony and now the fbi warning u.s. businesses that hackers have used malicious software to launch very destructive attacks in the u.s.. joining us is the ceo of better qualified. what is really nasty about this is these new at tax could destroy your hard drive. if there's something malicious beyond that there's something malicious about it. >> the hard drives in detroit were destroyed. i mentioned this before on a show about a fire sale and all of these things being some acorns being planted and what they're doing is going to attack our infrastructure. the utility -- who knows really

who they are? north korea, the russians, ukrainians. i think it is all of them. they want to take a shot at the big guy and they are not going to do it by military might and the easiest way for them to do it is 3 cyberattack. dave: this is more often simple cross where somebody wants to steal something for money. this is a malicious attempt to disrupt the united states economic system. our businesses etc.. >> it has been put on the table already. perhaps the sony attack has to do with the fact that they backed the film and the interview and that is a direct hit against north korea so is that true? i think it will play out but it might be. dave: there is another fact which is if your information on your computer is:there is no way to get it back. >> this particular malware is really vicious. in other attacks people were eager to recover it but this one

-- dave: is it because your hardware is destroyed and another attack, you may lose your software but you can always go to hardware to get your original stuff? >> not so they can't get it back but it is cost prohibitive. it's going to cost from lots of money to retrieve the data. dave: can we prevent this from happening? is there any alarm that can go off? >> i agree with the folks at fire i. cybersecurity is a misnomer. it is cyberdetection. they are going to get in and do some damage. early detection is the key. i don't think you can prevent it. what happens after the fact? employees need to the duty. ceos, the latest data shows mergers and acquisitions, ceos at that level of communication is being stolen. dave: let me be specific. of my computer senses an attack, some kind of software that sense is that you immediately shut it down? >> they have software to

overwrite the alarm system so you will not be alerted that something might be going on. dave: nothing we can do? >> there is nothing we can do. dave: that is a sober analysis. good to see you. president obama may finally have a plan to save the planet. a federal takeover of our electrical grid. we all know how well federalization of our health-care system worked out so what could possibly go wrong with this?

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happen? >> obviously would like to go that route. obamacare passed on a perfect storm, democrats controlled everything, rammed it through, they had cheered leaders in the media. i don't see this happening. not saying he doesn't want to do it. dave: already making these deals with china that could defect electricity. >> my point is unless he is willing to go to executive action he will never get it passed. this is the thing about divided government. i don't know what else he is going to do but hold 10 hell leadings the rest of the year. dave: we have charlie schumer saying obamacare was a mistake the way they rolled out could there be a fight in the democratic party of resist? >> don't know if it is a hot-button issue right now. was an interesting story. i am not an expert at it but i don't see this galvanizing

public opinion as health-care did and i don't see him going that way. dave: president obama's executive orders to push his aggressive agenda resulting in a squeeze on the middle class and a problem for hillary clinton in 2016. former clinton insider joins us on that new at noon. here is why you are not spending all that many u.s. saving on gas. everything else is still a lot more expensive. herman cain joining us. our 22 minutes away. ♪ [ male announcer ] how did edward jones become one of the biggest financial services companies in the country? hey. yours? not anymore. come on in. [ male announcer ] by meeting you more than halfway. it's how edward jones makes sense of investing.

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sensible driving avoids unnecessary energy loss saving you money and reducing co2 emissions. take the energy quiz -- round 2. energy lives here dave: bill clinton was the most pro-business democrat in the white house ever. even art laffer of motive for him twice. that is why so many democratic business people are excited about the idea of hillary clinton running, they think she will govern like her husband did but even if that is true could president obama's aggressive agenda poisoned the well for

hillary? is his ego alone my way or the highway approach to ruining her chances in 2016? a clinton insider joining us to start our 2. dave: we are going to get to the big story in a minute but we want to update you on a citywide power outage in detroit, michigan. schools have closed, elevator rescues are underway, city government buildings are being evacuated, 100 public customers, big buildings affected by this. this is the latest in a series of power outages in a city that recently came out of bankruptcy but this is by far the worst one. the star of hard-core pawn if you have seen that, the owner of a pawnshop, i imagine the bill in your in is directly affected. any power at all?

>> we have power. is not a citywide outage. is a technical problem that is only affecting the downtown area. people are stuck in elevatorss, people are not panicking. very observant that people are taking it in stride. it is not the end of the world. not a state of michigan problem. the downtown areas are older and turning it over to d.c. e and they need to do with a little quicker. dave: the folks in the troy have so much patience, you have had to deal with so much over the past couple decades. i you taking this in stride? city services are not what they used to be. >> they are coming back, coming out of bankruptcy with the new mayor. detroit is making great strides and that is one of these things people should understand, pretty

resilience. dave: we wish you the best and we are happy or coming out of it so well. we keep folks updated on what you are doing in detroit. people are taking it in stride. seems to be okay. we have this on the next possible defense secretary. the ap setting a senior republican senator reporting in the last hour that ashton carter will be the president's nominee. that senator was repeating something he heard on another news network so no absolute confirmation yet. parter is still the front runner, just not offical as of now. route to the president going all in with his progressive policies, perhaps hurting hillary clinton's chances in 2016. former clinton adviser doug schoen, you wrote a piece just before thanksgiving but now we are getting new clues about how much the president wants to

pursue his progress of the agenda even if it risks hurting the democratic party's future. >> we saw the interview he did a week or so ago where he said we needed a president with a new car smell and hillary clinton is many things that she is not a new face on the scene and the president as you suggest correctly going all in on a progressive agenda. that polarizes and electorate that voted against the democrats in the midterm election and make it tougher and tougher for any democrat, particularly former secretary clinton to win. dave: i am wondering to what extent he is doing things she would never considered doing all sorts of issues like energy, inventing al sharpton into the executive office to talk about what is going on with race relations. all this stuff seems counter to the moderate trend she wants to appear as. >> you wants to have a moderate trend for the electorate and she

herself is a centrist. he wants also to cultivate the left wing of the party, the obama wing of the party because their populist, they want redistribution. is a delicate balancing act and one that i don't think she successfully navigate. liz: what legislative achievements or foreign policy achievements ken hillary clinton run on? what can she point to in her experience that our victories for her weathered is moderate, centrist, left-wing or right-wing, anything? >> i don't think she has a lot of accomplishments whether as a senator or secretary of state that she and point to. as secretary she will save the world was mostly calm under her leadership. on the other hand posed her term as secretary we had multiple conflicts break out and the reset with russia has not worked as well as your anybody else --

benign what legislative bills? >> i am not clear there's a built-in point to. hazmat we already had charles schumer who i never thought of as a moderate coming across as the moderate wing of the democratic party chastising the president for what he did on obamacare. he was pretty silent when obamacare past but are we going to see more defections from the progress of line of the democratic party? >> this is part of the problem. we will see more defections because democrats -- you have people like jill mansion from west virginia. he will certainly be more assertive. mark warner had a very close win in virginia. will be even more assertive. as the democratic party for actors hillary clinton has the problem of staying close to a president who is going to double down on a progressive agenda that the primary voters want. dave: she has some people are guessing $300 million in terms

of campaign contributions or promises. is she going to get any more? businesses think this is going to be established as part of the democratic party what the president does over the next two years no matter who the democratic nominee is in 2016. will she be able to use that money or will any of it be shifted to republicans? >> there is very the love i am certain of its life. one thing about the clinton's having worked with both of them they will raise what ever the need for this election. they will raise an excess of $1 billion. dave: thank you very much. check the big board. the dow is still near session highs. it has been trading between 50 and 80 all morning. the s&p 500 not very much. it was up 1/2%. now is below that. meanwhile oil still near a four year low despite yesterday's bounce to the upside. today is bouncing down as his goal.

the national average for a gallon of regular still a $2.76. big drop in gas prices put in more than a thousand bucks into the pockets of the average american household according to a new study. but are you going to spend that money? scott, stewart talks about the economic disconnect between wall street and main street. is this an example? >> it is 8 huge example. the was the election nov. fourth. just because it will put one thousand dollars in my pocket doesn't mean i will run out and spend it. what if i left in debt by a thousand dollars? a lot of things go in to play but it is important to have the economy on all cylinders and i tell you what. of the ten year yield was at 3.5% and we had gasoline prices doing what they're doing i think there would be more of a correlation between yields, the economy is not firing on all cylinders of the american consumer is still in data or doesn't feel comfortable about his house the underwater and the only people benefiting from this move in the equity prices are

the 5% the know 85% of the stock. we need to see something broader for this $1,000 to make a difference. dave: we didn't see it in the shopping over the holidays. let's talk about goals, sitting just about $1,200 an ounce now. where does it go from here? >> i think it reads lower. slowly but surely trees or. black friday sales were example what is ahead. the consumer expecting prices to continue to go lower. if that is the case that is the deflation word and i think if we have deflation which i think we are going to have will put gold and one thousand dollars. hazmat good to see you, thank you very much. apple hit yesterday as trading appalled little bit. what is happening with apple? nicole: tech stocks got hit hard, the nasdaq down, applesauce in heavy trading mastering losses, we saw heavy trading before 10:00 a.m.. and a move down 6% at one point which is the steepest drop since september. to a bouncing back, 1/2%.

some of the move yesterday attributed to the fact the morgan stanley asked clients to pare back on some tech exposure including with apple down 3% from 4% and that may in part have been part of the selling. in the meantime plenty of people are still hot on apple. they were raising their target to $135 with a buy rating. we had walmart today talking about cybermonday and the electronics, and had had many, 16, happened to be a great seller for walmart. we will continue to watch the stock trading down 2.8% but an up arrow today. dave: a busy week for apple. following the grand jury ruling and protests in ferguson president obama held a white house meeting with his cabinet, civil rights leaders and law-enforcement officials, pushing for a $263 million program to expand police training and add body cameras.

operations officer and president of security firm diligence, mike baker is with us. good to see you. says ferguson merit a federal intervention in the local police affairs? >> in part this is driven by a federal program to transfer and decommissioned military assets to state and local police so that part of it makes sense. to your point i can think of a few things that are as bad an it as the federal government getting involved in state and local policeing community policeing each is. that is the wrong direction to take. dave: the direction this administration feels most comfortable federalizing healthcare, and federalizing local police forces. >> absolutely. i don't doubt they are heading in that direction. i give them credit for not jumping -- taking a knee-jerk reaction to public opinion as they seem to be inclined to do

so often. this particular issue, military gear, that has a lot of the protesters spun up right now when a lot of people looking to capitalize and say that is a terrible idea because it militarizes the police force. frankly it is an efficient and worthwhile use of resources. we are talking again about taking decommissioned military gear and getting it to resource stretched apartments around the country. you can improve monitoring and protocols and procedures for doing that and managing that program. i would hate to see the administration as a reaction to public opinion from ferguson's a we have to stop that program because it is an efficient use of resources. dave: there were law enforcement officials at the meeting apparently no ferguson police. how can you figure out what cops in ferguson needed you don't have any ferguson cops in the room? >> is a strange move on their part. i am not sure if they thought that would keep emotions down.

is an odd the thing to do. it is not just a ferguson issue. we need to address certain parts of this across the board, across the country and that is important. one of the most important things they could be doing if the administration did nothing else other than authorized sufficient resources for body warm cameras and continued work on standoff non-lethal weapons, that would be the best thing they can do and stay out of everything else and let state and local communities deal with their policeing issues. dave: i don't like rhetorical issues but i will ask do you think al sharpton does anything to help the situation when he is in a room? >> no i don't. i think al sharpton has an interesting past. he has done some interesting things. i am being as diplomatic as i can be, but does he add to this discussion in a recent, pragmatic, constructive way? know.

frankly if it were you and i and we were involved in the same level of tax evasion and unusual financial activity with non-profit and various entities we would probably be incarcerated at this point. al sharpton is someone, the president should set aside from this discussion. i think that he is causing problems. law-enforcement across the country looks at the president's embrace of al sharpton in a puzzled fashion. to answer your question i don't think he is adding anything constructive to this discussion. dave: mike baker drawing on every ounce of diplomatic skills he has available. thank you very much, good to see you. big east for a lot of you this christmas shopping season cybersecurity, are your credit card safe? are retailers ready? we have the answers from the fbi and won't like what you hear. that is next. we are following developments

out of detroit, a big power outage, looks like we have one right here. hundreds of buildings being affected, the latest from detroit when we return.

dave: we are following developments out of detroit. we have a picture bag, power outage has struck the downtown area, 100 public buildings have been affected including schools being evacuated, schools closed as a result, she -- we have reported is important to know that this is a separate electrical grid from the one in the residential areas. no homes the we know of are involved. a lot of the evacuation of government buildings. how much has to do with bankruptcy? >> this is a fast-moving story. people trapped in elevators, fire and police departments. and we sought this with hurricane center where gas station need backup generators to keep the pumps running. the fire departments operate on radio, still label to communicate and many fire departments in detroit have back a generator so the fire departments are up and running so i the police stations. dave: probably learned a little

from sandy. call it the wild west on the web. devastating cyberat at at sony and u.s. businesses that hackers have used malicious software to launch destructive attacks in the united states. liz macdonald is still with us. this goes beyond stealing information. ethernet the attacks. liz: we have been in touch with the fbi. it is not just about stealing to make money from your information but destroying the hardware. this malware is so serious that the fbi standoff flash color to businesses, many of them in the entertainment industry. there is a viable concern that companies like sony did not have the fire wall or cybersecurity to protect their data basees. and anybody did downloads the pirated sony movies will in turn

affect their own computers. and your computer and office computer. >> 1.5 million users. and it is not just about stealing but destroying. >> it is up a little. and updated its privacy policy and its overall rules the going to affect january 1st. the rules make it harder for small businesses to promote on the web site. why are they doing this? >> they are doing it because they want to make more money. and they want businesses to get promotional items so that is one reason.

they want you to pay for the advertising to reach your customers but on the other hand they don't want to inundate users, people like you and me who are looking at our feet. dave: the main question i have is how do they tell the difference between a personal post on facebook and business post? a lot of people combine their personal with their business, almost indistinguishable. >> they're algorithms have gotten very smart. they look for words like sale, go by now. and trying to promote something, go to my web site by now. they are looking at these types of push. dave: if i am a person who put something that might take off one of these algorithms and say you are a business and therefore i will charge you for this do i have any resources? can i appeal to somebody?

>> if you are an individual who has a business, recommend you set up a face book page because it will give you more options to target your audience, better reach them with a message. it is better for your business. dave: it could be as much as $20 a posting for business. >> it depends. you could spend $20, they could spend $20,000. and facebook advertising is much more cost-effective for small businesses. >> it loves it so -- we have the numbers to prove it. the ratings for the midseason finale of the walking dead are out and absolutely

mind-boggling. they took on the nfl and won. dave: videos of steve jobs shedding a little light on the men he was. more un that after the break.

dave: new e-mails from steve jobs surfacing in light of a class-action lawsuit over itunes being the exclusive music provider for ipods. here's one from a company memo outlining apple's 2011 strategy, quote, 2011, holy war with google. ruthless, customer's computers got wet and wanted replacement, quote, this is what happens when it sustains water damage. they are pro machines and they don't like water. sounds like you looking for something to get mad at other than yourself but he is right. video recordings of steve jobs will be played in this class action suit. when we get those we will played them. apple co founder is working on a reality tv show about the future of technology. the show is going to be called boat was and will feature him testing out all the latest gadgets.

reports suggest myth busters host carried by iran has signed on to be part of that project. amc's midseason. walking dead beat sunday night football in the ratings. again. 9.6 million of those viewers were adult 18-24. we are calling it a cheap gas stimulus. why don't americans feel like they are better off than they were six years ago? her big cane on the economic disconnect after the break. ♪ i've been called a control freak...

i like to think of myself as more of a control...

enthusiast. mmm, a perfect 177-degrees. and that's why this road warrior rents from national. i can bypass the counter and go straight to my car. and i don't have to talk to any humans, unless i want to. and i don't. and national lets me choose any car in the aisle. control. it's so, what's the word?... sexy. go national. go like a pro. >> tracking the board. sixty-two points to the upside. hovering around that level all morning. procter and gamble busy hitting all-time highs yet again today. still near a four year low. national average dropping overnight.

we are holding steady at 42 states now. cheapest gas in the u.s. is $2.10. sicko in north houston. the big dropping gas price putting more than $1000 in the average american household. will you spend it? let us know on facebook and twitter. power outage affect and public buildings. jeff flock is following the story closely. >> power does remain out to those buildings. this is not residential customers. it is primarily public buildings. for example, the city hall, all the public library's are out. most of those schools are out. wayne state university.

it is a very large section of downtown. communities and the outlying areas are served. it is not affected at all. it is the public lighting system. still no word on what caused this outage. trying to upgrade city lighting across the city. just as the city was emerged from bankruptcy. still no word on what has caused it. they have scheduled a press conference board 2:00 p.m. eastern time. the elevator rescues have all been completed. people standing on the street that you see in parking lots outside the buildings. that is what we know at this hour. >> emergency services. they have their own generators.

>> they do have backup. >> thank you very much. a drop in gas prices is putting more money into the pockets of the average american household. the "wall street journal" says it is offset by all we are paying for basics. herman cain is here. this seems to be an example. >> exactly. many do not feel that it is $1100 because they did not get it in one big check. what it does is, first of all, keep consumers from moving money from one pocket to another in order to try to buy gas.

because it does not come in one big lump sum, that is why there appears to be a disconnect. >> the results of the election had a lot to do with this. after the election, polls show that people are much more satisfied. the new group of politicians does not satisfy them. there will be a revolt. >> there will be a revolt. i agree. they learn from very valuable lessons. i happen to believe that the republicans understand they have to show some tangible results in the next two years or they could get voted out of office. >> how do they push back with a president who is willing to go at it alone? >> let the american public know what is going on.

>> the republicans, the rnc, the leaders in congress, they did not do a good enough job, david, and leading the public know this is all a political stunt. i believe that people will respect the fact that republicans are trying to do the right thing. especially as it relates to this whole immigration declaration. they have got to communicate it well to the general public. how important is the tone at the top? the tone set at the white house. >> the tone at the top is very important. you cannot lie to them. the president said, by all measures, by most measures, people are better off now than they were six years ago.

people know that that is simply not true. if the president have the trust and respect that you would want the president to have, then, maybe, they would feel better about it. the president feels they did not do a good enough job explaining it to people. right now, the president does not have the trust or the respect. after what happened in ferguson and a big meeting in the white house, very little respect for police officers and others. what about that? the president is now pushing for this billion-dollar program. they may be fine.

within this context of how sharp in, does it seem right to you? >> no, it does not. they are working on the wrong problems. they should be focusing on jobs in these communities. a lot of kids take out of these failing schools. all of the good cops in america, thank you. it makes it seem like that is being ruled rather than the exception. yes, we have ferguson situations in other parts of the country.

thank you for putting your lives on the line. thank you for doing it the right way every day. >> when they go out holding their hands up, now, you have members of congress, lawmakers themselves showing disrespect for the legal process. is that a tone that the president should step forward to try to correct? >> all of the people that are making those gestures, they are simply regarding the due process that has already taken place. all it does is continue to span the flames. the president can set the tone at the top if he is setting the right top.

the right people are seeing through the political agenda. they think that this will give them relevance. i believe it will backfire. >> there could be this walkout planned for thursday. what do you think of that? >> listening to the sound of my voice. do not use stupid. do not do it. you are being used for a political agenda. why don't you work on increasing your skills like some people do when they come into the restaurant industry. do not do it.

when you get back to that job, you might find a robot they're saying do you want fries with that? [laughter] >> being replaced by a robot. that would be funny. real estate and new york city is expensive enough. climate change-they make your apartment even pricier. cheryl casone has the details on this next. >> the hollywood sign is gone. ♪

you don't need to think about the energy that makes our lives possible. because we do. we're exxonmobil and powering the world responsibly is our job. because boiling an egg... isn't as simple as just boiling an egg. life takes energy. energy lives here.

nicole: i have your fox business brief. the dow jones industrial average up 52 points. the s&p 500 up a. some names on the dow jones industrial average hitting highs. procter & gamble, cisco systems.

kaser, the maker of phaser guns and wearable cameras. barack obama pledging. providing training after all this has happened in ferguson. royal caribbean. it will be joining the s&p 500 after the close of trading on thursday. ♪

>> take a look at apple shares right now. they were down. they are holding their own now. joining us from san francisco, one of the biggest apple tools we know. >> just a crazy day yesterday. stock that more than half of it lost. it is off today. i would be fine on a ship. it is trading at only 13 and a half of next year's trading. 22% discount from the s&p. it still has a lot of momentum left. it is a good thing.

>> all right. two energy picks with oil still going down, by the way. >> it is a fascinating company. a terrific ecosystem play. they do software stimulators. energy exploration. they have every major shield in the united states. they have someone on their helping. this is a great play. trading at only $23. canadian natural resources. >> love that company. oil. largest in north america. >> all right. it sounds like we lost you. do we still have you there? >> i can hear you.

did we drop out there for a second? gold is just not a good thing. i would really prefer silver. i know it is excellent. i think it is silver bowl for gold. gold is off to about $20 today. thank you very much, michael. there is an alarming headline for you. new york city oman the top 10 cities most vulnerable to climate change. mr. climate change himself. cheryl casone joining us with more. different from the way mirrored the blog you'll would determine it. >> the organization for economic

corporation. the top 10 around the world who have the biggest economic periods, new york came in at number two. we saw 14-foot waves during that storm. those ways will get larger. they will have 18% warm rain. rain will be stronger than they were even two or three years ago. this is a city that needs to be on the watch. now, there is $350 million in federal funding. lower manhattan. get this. 350 million. they want to build around lower manhattan.

>> like they have in holland. >> the fed is already giving them money. i spoke with the expert. it will be shrubbery. it will be sloping concrete. that is what they want to do. they will start construction and a couple of years. here is the thing. i spoke with janice dean this morning about all of this. she is lucky if she can get a five day forecast. [laughter] >> protecting us against what could be the effects on new york city. >> 350 million. you know that it will turn into a billion.

>> all of the properties were so damaged. >> it was over in asia. that is the map of the flood zone. these are the predictions. >> thank you very much. black friday lines. online shopping from the comfort of your home is caned this holiday season. we have all of the details after a short break. ♪

>> back to the world of retail. cyber monday sales. mobile purchases of 30%. this is a huge job. people shopping online versus in store seems to be the trend. huge jumps. >> yes. bringing the demand on themselves. look at best buy. they put more barge pictures on the website. they are funneling all of this traffic from the store. >> is the increase in mobile traffic enough?

>> not yet. it is a big risk. why do you think it came off so much more than people expect it? >> this is -- black friday and cyber monday no longer even exist. >> is it also because the gas bonus that we are all getting, people still feel kind of poor about where they are. >> you are exactly right. people want the lowest possible deal. i think consumers are really feeling good, you would see them in the store a lot more. will we see closings of walmarts

and other stores that have done so well in the cyber sales, but so poorly at the mall? >> oh, yes. walmart will announce store closures next year. >> just as we are getting some traction on employment. this will mean many fewer jobs. >> the physical retail needs to calm down. it also means a lot of stuff can be farmed out. great news. more "varney & company" next. ♪

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impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> i am simply saying, don't do it. if you get back to that job, you may find a robot they're saying, do you want fries with that?

[laughter] >> possible presidential contender her main caned. the drought walton, over to you. rich: thank you very much. max is a cyber security expert. hear how he is planning on rebuilding thinking in favor of the consumer. ever core partners ceo will be joining us. blackrock cofounder. the number one thing the government can do for business. california keeping its grip on the movie industry. we will take you to hollywood for the story. fbi warning american businesses to prepare for cyber attacks. fire i.