[closing bell ringing] david: bells are ringing on wall street. looks as though we're trading to the downside as we end the day of the dow is down about 97 points right now. although the big loser today is the nasdaq. tech-heavy components down as well as some other stocks in the nasdaq. that is down a full percentage point. looks like triple-digit losses on the dow. that is towards the worst of the day. certainly in a downward trend as we end the day of the. we have a lot to talk about. "after the bell" starts right now. liz: let's get monday going and break down today's action. lance roberts from fta wealth management will tell us why he is calling for a santa claus rally and how investors should play the pop. brent wilsey, from wilsey asset management says now it is the time to buy. let's bring bob iaccino right

now into the conversation. he is in the pits of cme. we could talk about volatility and dropping oil once again but what do you think is the biggest predictor how the rest of the day or perhaps the rest of the week will trade? >> well it just seems very, very weak. we have that 9%, over 9% drop in the s&p a while back. we rallied 14% off of that. we're down 4 and 3/4% in the s&p and buyers don't seem to be turning up like i think they should, like lance and brent will tell us they should. i think biggest predictor is the fear of vix as you mentioned as it spikes up towards the end of the year. it gets a little scary but that is exactly when investors should get involved in my opinion. david: lance a scant at that clause rally, really? when do you see it coming it -- santa claus. >> i rote about this particularly in in last week of

september, tax-loss selling and end. year we pick up as mutual fund and hedge fund position themselves for 2015. there is a real real possibility we get rally here. beware of january. just like last january we had a big selloff. that is the big risk in the market. liz: brent is joining us and say, buy, buy, buy, like one of those commercials, right? why? >> exactly. liz: there is questions about the viability of a santa claus rally and five minutes ago, jeff saut of raymond james said, don't worry, it will happen. >> i think it will happen, liz. we look, a lot of different things, market down five days. how terrible it is. look what is going on the other side. last week we had great retail sales numbers. we have sales climbing faster than the inventory level. which means we'll have inventory to be built. more jobs out there. economy is doing pretty well and lower gas price. this will turn around. i wish i could say it will be tomorrow but i think we'll have nice numbers before

december 25th. david: lance, liz just referenced jeff saut. he said utilities was a very dangerous place to be. he said that a year ago and he was wrong but you think he is wrong now. why? why do you like utilities? >> david, liz, we've been talking about this ever since january. i've been liking utilities and defensive plays all year long. staples and utilities have been great all year. why? because that weakness is showing up and this is why interest rates continue to fall. there is a real possibility the fed won't raise rates next year because of what is happening in the commodities space and what is happening internationally, economically speaking. so interest rates are still on our side. this is why i still like the defensive, dividend-yielding plays. utility, staples, health care, those haven't changed. >> except interest rates may be on our side. what you referenced, problems

overseas might be something that hurts us through no fault of our own. >> yes. liz: bob, you look at for example, the russian ruble. even in nobody is watching and trades russian ruble it hit all-time low today. that is worrisome especially if they at some point default on their debt in russia and there may be a domino effect. are you guys at least discussing the potential of that on the floor of the cme? >> well i think, you mentioned russia. look at venezuela as well, down 55% on their bonds. liz: them too. >> it is a very scary situation from that perspective but i would like to reference the positive of oil prices. also i don't think the fed will respond at all to the oil prices. there is divergence between the ecb and federal reserve here. federal reserve basically said for years and years and years under multiple chairman, its core cpi they're looking at. x-food and ex-energy. when you have $10 drop in global

oil prices that adds points to gdp. i don't think anybody thinks these oil prices will be sustained somewhere around 56 at the high side. maybe 70 and possibly somewhere between 50 and 60 at least six to 12 months. there is big positives in that. ecb sill seems like they will bring in qe despite the crude prices. david: brent, let me talk about oil prices this is really ironic. today there seemed to be divergence between oil which went down 4%, the price of oil and oil stocks. i'm talking about old-style oil stocks like halliburton, schlumberger. stocks that may not be directly on every bit of work they do related to oil. but they have maintained their value. you think maybe halliburton has been beaten down as a stock long enough and hard enough, so now is the time to buy? >> really is. again halliburton which trades at 9.8 times earnings. reflect whack on utilities

thing. they're trading at 16, 17 times forward earnings for utilities companies. when rates go up they will go down. stay away from high valuation stocks. david: we have a fight here. >> definitely. i'm ready to battle. >> then take it, lance. do you think that, i tend to agree with brent on that, especially jeff saut, keep referencing him, he said stay away from utilities even though they have been such a winner this year? >> i have to agree when interest rates begin to go up then there will be a time to leave utilities but right now there is absolutely no indication. look, 2013 -- liz: you like pg&e, these are names that you would add? >> i would buy them right now because interest rates will stay low here for at least another six months. and they're going to continue to on the defensive side of the portfolio. interest rates are not moving up anytime soon. this is it what commodities and the economy it sell is telling you. retail sales were much weaker, entire growth of retail sales in

november with seasonal adjustment. ex, seasonal adjustment retail sales did not grow in november that. shows you the strength of the underlying economy. david: brent i heard you moaning that interest rates would stay where they are. i have to say, anthony scare my i chi and other -- scaramucci and other smart people say interest rates will not rise you. bob, i want to ask you about something in particular this downturn the past week, is half as bad as the downturn in october but it still bothers you more than what happened in october. why, bob? >> well, because we were waiting for this 10% correction. we got over 9%. there was a ton of money wait in to buy at that point. i don't think that money is there right now. i do think interest rates are going to rise. i do think the fed is prepared to stay the course, contrary to the ecb you put that all into effect and this one worries me a little bit. liz: who else is worried?

brent, are you worried about anything out there. >> i want to point out, retail sales numbers are up .7%. that include gasoline seas. gasoline sales are down because prices are down. 1.8% or.. 8% so retail sales are very strong. i see a very good holiday season. we'll see great numbers in january and february. we'll see rate rise by march or april, not june. i know i'm minority. liz: before the fed tightens is that going to be an indicator? >> because, people kind of see it as happening. see good economic information and they will start rising before that time frame happens. think it will happen before that time frame. david: i think one of the problems brent is spending so much time looking behind him at scene in san diego. you can't get any bad feelings from there in the setting you're in. lance, bottom line, lance, the fed, we're about to have a major decision. question about the language, whether or not they say for

undeterminable amount of time rates will remain low. are you going to be studying the fed's decision this week with details about every word they say? >> well, no the more important thing is they change the language from considerable time. remember everybody thought rates would rise in june 2013. that's when you and i started talking about the fact they weren't an rates have been coming down since. federal reserve is looking at that as well. they will look at real underlying economic growth, slack in the labor market, et cetera. i think they will change the language to give them more flexibility. they may not change rates until next year. liz: they'll will be guessing game, beer game, when will rates rise. bob, we'll check back in with you when the s&p futures close. david: thank you, gentleman. 16-hour hostage standoff shut down part of central sydney in australia for hours renews threat of terror.

liz: rich edson live in d.c. the event is over but ramifications are huge. >> that's right, liz. the police say the gunman held 17 hostages in a cafe. several managed to escape before the police raided the site. they raided cafe after hearing gunfire inside. the gunman is man herron monis, called himself unaffiliated muslim cleric and led a campaign to letters to parents of australian soldiers. police say the gunman acted alone. >> to the people of sydney, this was an isolated incident. it is an isolated incident. do not let this sort of incident bring any loss of confidence about visiting or working in our city. it was the act of an individual. this should never destroy or change the way of our life. >> u.s. department of homeland security officials say they're staying in with their australian

counterparts and they say there is no connected threat to the united states. the stanoff started before 10:00 a.m. in australia. concluded around 2:00 in the morning. police officials are continuing this investigation. david and liz, back to you. liz: rich, thank you very much. david: all right. by the way, we should mention we thought it would be a triple-digit loss on the dow. look how close we came. 99.99 points to the downside but not a triple-digit loss. just missing a triple-digit loss. coming up parisians giving uber a massive thumbs down, banning the car ride for hire in the new year. is uber completely persona non grata in europe, will it bring uber's lofty valuation, $41about, back to earth? liz: homebuilder confidence slipped just a bit in december but could new relaxed mortgage rules, really relaxed mortgage rules, give real estate a shot in the arm? we have one of the smartest real estate minds in the business. david: the panel, oil, markets

and seem to move in tandem. biel look at today's synchronized move and see what it means for you and your money coming up. ♪

david: just 4seconds ago the s&p -- 4seconds ago the s&p futures closed down. let's go to bob iaccino to see which direction ended today. bob. >> they had bs next to them. buyers coming in on the close. traders coming in on crude oil, how the fed will respond to crude oil. crude oil will not be the mushroom cloud that blows up the fed plans. they will stay the course and affect that in their statement. >> sound good, bob, looking to upside tomorrow. thank you, bob. >> i like how he put that. not be the mushroom cloud that blows up the fed. homebuilder sentiment, that declined slightly in december. government controlled mortgage giants fannie mae and freddie mac announced they will back mortgages with down paints of, as little as 3%. that is unbelievable. how risky a move is this? when will the u.s. housing market see the impact of 3%

down? joining me now, our favorite housing expert, mbf highway founder hairy habib who has lived and breathed mortgages throughout the years. its is not new news that they will take 3% down unlike 25, 30% some of us have. let's cut through the details and find out how this will affect the housing market? >> it should be good. first of all there are couple of restrictions. you need to have good credit, really good credit. 3% down is not available for everyone. one of the borrowers has to at least not have own ad home for the past three years. so, i think it will help the housing market. if you get the first-time homebuyer going it generates -- liz: fico score, you have to have at least 620. barry, turns out most mortgages that are approved, the fico store was more like 720. >> there is real positive thrust in past, in the past few years to see good credit quality.

that is resulted in very few foreclosures, very few delinquencies. the overall crop of mortgages have been generated has been very, very good. the question how far do you go to the extreme? some people say it's a little too eight. it is a fine line you walk. it is very difficult. liz: how difficult is this for first-time home piers? shouldn't be for everybody if you want to make a dent. >> i would like to see that. buyers with home experience could manage 3% down better. you can go with 5% down and fha. some things are more expensive. you can still go 3 1/2% down. low payment options are out there. liz: are you worried at all about the homebuilder sentiment ticking down? >> it was down one. went from 58 to 57. above 50 is still good. here's the thing, the homebuilders i talk to are feeling pretty optimistic about the future and traffic levels. it is kind of goldilocks. you don't want it so hot that it

is unsustainable. this is really good clip. we've been going four or 5% appreciation. people don't realize how powerful that is over time. >> the market was colored red and don't look what happened to the homebuilders, what happened. you piled on to the homebuilder sentiment survey that wasn't greatest number we have seen. home prices have salubrious effect on homebuyers. more money to use it for a down payment or fill a house or renovate a house, correct. >> i actually have a different take on that a lot of people are talking about the positive of low oil price. liz: right. >> we like going to the gas steaks and not taking out home equity loan to get a tank of gas. we get that. here is the thing. there is ugly side to this. think about many soft statistics people not aware of. six years ago, august of 2008. we imported 181 million barrels of oil in that month. six years later this, is right after the eagleford shale well was drilled in south texas, that is down to7 million barrels.

all that -- 87 million barrels. all that money is concentrated here which is a good thing. with price of oil coming down may not be as profitable. you can't take things off-line and put them back online in snap after finger. liz: i'm not with you on this i think it is net positive for the consumer. >> i really don't think so. here is couple reasons why. 11 of the 12 hottest housing markets are sitting on top of energy deposits. they have been definitely significantly influenced by boom in energy. goes other way, markets start to turn, overall housing market sentiment can change. a lot of buyers might pack off and say, the news isn't good. one beneficiary could be interest rates. right now a lot of high yield investors could be having some difficulty. many of these companies are having difficulty point with these prices making interest payments that could mean that people go to flight to quality and we see interest rates drop if this plays out. liz. do you get a sense.

liz: do you get a sense fed tightens and that they could jump in and do we really see spurring in this 3% opportunity? >> i think right now is great time to refinance. if you took out a mortgage last 18 months you should probably refinance. purchases go 4%, roughly below 4% it's great. if the scenario plays out, we said not too long ago in june we would think rates would go lower and they have. guess what? we could see half or 3/4 of drop in rates if oil prices stay where they are or go down little more we could see that type of activity. liz: then that is your opportunity? that is your opportunity. liz: happy holidays. barry habib. david: i love that guy. you guys were talking about oil tumbling in the lowest level in five years on fears opec might leave until oil drops to 40 a barrel before taking any action. how low could prices fall?

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david: it has been a wild ride on wall street as cheap oil and terrorism frayed traders nerves. we have gary kaltbaum. rick unger, forbes senior political contributor and fox business's adam shapiro. who has a scratchy eye which he just scratched. adam, a lot of people are asking this, liz, just talked about it with barry habib. is cheap oil a good thing? look at today's trading on the market and market doesn't seem to think so? >> especially when you consider we're shutting down oil drilling platforms and rigs t will hit the fracking industry as well. so in the short term for job creation in the united states, not necessarily good but even more troubling going forward and

look, i think american consumers need a break, but going forward what is really going on with global demand? no one has answered that question. david: that is the big question, gary. is it demand or is it supply? we had saudis, opec minister, i guess u.a.e. minister for opec or opec representative, we'll not start cutting back production until the market hits 40. how will the market take that. >> i tell you i'm amazed opec is doing nothing. in the past they had meetings in a nanosecond to shore up prices. i don't know what the heck is going on there. look, here's the problem. this is not just a drop. this is a meltdown in energy prices and i think the market is starting to question why. it is great it is for the consumer. look at airline stocks and retail stocks they're doing great but markets across the globe now are getting in trouble. i think the market is starting to flush out something. i'm not sure it is good. david: rick? >> i have to get a kick out of it. the reason opec is doing nothing

that saudi arabia is driving this, $40 is their price. that is what is making pricing happen. david: u.a.e. said the same thing about $40 oil. >> there they are, they are the one who is benefit at $40. here is what i love. you and i remember a lot of discussion on television, oil prices are too high, destroying american economy. president obama is to blame. yet here we are, these guys are telling me that low oil prices are destroying the economy. just pick one and be consistent. >> who said that? nobody said that. >> you're saying it is bad. david: it could be bad for the market, gary, but doesn't mean it is bad for the economy, does it? >> no. there is nothing bad about oil prices dropping. it's a major expense cut for the consumer and business and goes all throughout the economy. i have no complaints on that. david: let's move on to the big story of the day out side of oil. a deadly terror attack in australia. comes just as politicians here are beating up on our first line of defense against terror, cops and the cia.

gary, this is awful timing. the senate cia report and all this bad talk about the police in america? >> well, look, i think regardless of these reports, our men and women in uniform are going to continue to do the great job they have done. i have always been amazed we have not had these lone wolf attacks more often here. tells you what a wonderful job they were doing. people like de blasio needs to keep their trap shut and start complimenting these people for what they do. >> de blasio, for those that don't know the mayor of city of new york. about that mayor, the police benevolent's association, says mayor de blasio's actions are contributing to injuries being received by new york police department. what he is referring to, so-called protest this is weekend and de blasio came out in favor of the what he called peaceful protests. one of the slogans that they were saying during the protests, what do we want? dead cops. when do we want it? now. >> look i'm not the world's biggest fan of the mayor i have

to acknowledge you about that said i'm with gary. our police department right here in new york city is way too good to think they're not going to do a great job simply because they don't like the mayor. but i will say this. i want us to be careful how we refer to this jerk in australia. this guy is a fake. i don't think he rises to the level of -- david: fake terrorist? >> you know what? a guy who has been in jail charged 12 times with sexual assaults. this guy, i'm cautious about -- >> doesn't matter what he is. >> having religious grounding. david: for the point of this segment doesn't matter about him, because the question, adam, if something like this happens, are we so bad-mouthing cia and cops in this country that we might have trouble fighting it? >> no. >> we have mentally ill individual in australia. i don't think he rises to the level of the question. >> that's my point. >> as far as mayor de blasio no american not survive if he doesn't support the police department. first and foremost he has obligation to law and order.

that is what the mayor has to consider. david: there are mayors in the past only one-termers. this mayor may be the same. hollywood bigwig aaron sorkin enabling the media for enabling sony hackers. a high school student walking away from play -- with millions from playing stock market during lunch breaks. liz: uber has another hurdle, this from the company's second largest market, europe. we'll tell you why. that is next. time of the year for many to jet-set off to somewhere warm like atlantis in dubai. we're talking about the company behind that resort and many others. we'll tell you about it. ♪ dad, i know i haven't said this often enough, but thank you. thank you mom for protecting my future. thank you for being my hero and my dad.

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liz: ride sharing service uber just can't get out of its own way. it is now facing criticism in australia for surge pricing, re, gouging, in sydney, australia, while the hostage situation was taking place starting yesterday. it was also dealt another regulatory blow today as france becomes the latest country to crack down on the use of uber's services. on a new french law set to go into effect conveniently, january 1st, all drivers who operate without professional licenses could be fined more

than $350,000 and face up to two years in prison. david: wow. liz: the ban, listen, don't mess with the french when they have their little regulations, are you kidding me? the ban following protest by, irate taxi drivers who impeded traffic in paris this morning. this development is particularly interesting because paris was the first city where uber launched outside of the u.s. now they don't like it. no. and uber remains the company's second largest country in europe following london. they claim half a million users in france. it is not all bad news for uber. the french court has declined to ban uber and the company was recently valued at 41 billion. leave it to the french -- david: if they're ticking off parisian unions, they're doing something right for a change. sony threatened unspecified

legal situations against news organizations that publish hacked information. you found the letter that was sent out by the legal attorney, david boies. >> at end of the letter it says to these news organization, if you don't comply with the request and stolen information is used or disseminated by you in any manner, sony will have no choice to hold you responsible for damage or loss arising from such use or dissemination. whether this would hold up in court is another situation. this is high powered name that represented al bore beef before the supreme court. you don't mess with david boies. david: i wonder if there was so batched publicity, the pr was overwhelming, i wonder if this is head fake to stop the bad pr? >> i don't care how bad their pr is. they don't get to tell media. david: rick is former head of marvel entertainment.

>> i've called sony far worse than david boies has. david. will this stop bad pr. [i'm surprised david boies would say such a thing. david: gary, this will not change anything? >> look. i'm not judge napolitano, but look the media will do what they want and web is so open not just here but we're talking worldwide. it comes out, it will be reported. if it is headline stuff it will be reported. not much they will be able to do about it. david: adam, not that david said specifically, david boies said he would do something. he didn't specify anything, did? he. >> he said you will be held accountable. it implies there will be a lawsuit to seek damages. how do you connect the dots to blame recode for what could be hundred of millions of dollars at sony? because sony had a horrible security breach, it is a stretch. david: rick, i will go back to you because you know these hollywood types. how could he say hellie and kiss each other hello after what they

have read about each other through these hacks? >> they're actors. >> media business, what do you mean? there was absolutely nothing i read in any of these emails that shocked me yet. this is how business is done in hollywood. kissing. david: 17-year-old old son of bengally immigrants living in queens, new york, made millions in the stock market, and plans to start a hedge fund when he turns 18. does this show it's a little too easy to make money in this market? gary, i remember in the gogo era, the 2008, the come era, you were getting advice from the guy that shined your shoes. there is something wrong with that, is there. >> not to mention the taxi driver who told me to buy buy.com that went to zero. this tells you a lot about the wild action in the market. i think i read somewhere that he was into oil futures and oil prices have just crashed he was probably short them. so there is big money to make. when you get speculative type action on upside and downside

and make a big bet and get lucky you could make big bets right now. david: adam, too much speculation in the the market? >> i first have questions about this article. listen, i cheer this young man, 17. doesn't even have driver's license and bought a bmw, talked about at nine years old losing thousand of dollars. want to know how he made the money. don't talk about how he made the money. i have a big question mark about this. david: rick, it is true, things are so frothy before the current downturn that start adweek ago, all kinds of things that didn't make sense were happening with the market. >> not like we haven't seen that before. you might have a very good point but maybe a little too overactive. don't take it out on the 19-year-old prodigy. this kid might be a genius. i will see if he can manage my money. david: gary, "wall street journal" used to have one of these articles every year around throw darts at a board and see how those picks panned out as opposed to best stock pickers on wall street. very often the dartboard was

more accurate than the stock-pickers. >> don't forget the monkey's picks also. david: bingo. >> when all said and done -- >> index funds. >> index funds throughout history but when markets dropped 50% like in '08 and 80 to 90% in 2000 not sure i want to be in index source. david: that is what jack going bell says. >> what gary is saying that the monkey can do job of thousands of financial as advisors. i get index funds and ride the recovery after the fall. david: that is not what he said exactly but good advice. >> everybody puts words in my mouth. >> appreciate it, gary kaltbaum. rick unger, "forbes" senior political contributor and fox business's adam shapiro, thank you all. liz? liz: whatever money you make maybe you spend it on travel. about 45 million people are expected to travel this holiday season of the as the economy

picks up, more people are finding the cash to travel to resorts around the world. next, we have got one luxury hotel company which is betting big on its future. plus are you a college grad still struggling to find a job? when seattle startup is here with a four-week program on how to find a job. we've got more on that coming up. ♪

liz: sunshine and beaches sound really good right now. 459 million travelers expected to fly this holiday season -- 45 million. as travel market continues to recover. one international ultraluxury resort company is betting figure on its future. david: you have heard of atlantis and one and only resorts is spending billions on development and expansion in its global properties. joining us is the ceo alan lieberman. good to see you, alan. thanks for coming in. >> thanks for having me. david: when you invest billions you have to invest long term. you're talking about something that would presumably go beyond say the current bull market in the stock market which has been a great boon i'm sure to your

luxury business. are these invests thinking that the eventually the boom we're seeing will come down a little bit? >> first in our business we take a long-term view. we have international models. investors investing capital in our businesses although we invested capital in some our properties. we're seeing nice growth. we're talking about a project we're doing in china. that is opening end of '16 and '17. that will have runaway of chinese market. david: growing less fast than it used to so. >> less fast but still extraordinary numbers. look at growing numbers and growing middle class, china is strong play for us and perfect brand for atlantis. liz: talk about that region where you chosen to put up this luxury resort and what it evers you that you can't get anywhere else. >> sonja is the known as hawaii of china. it sits on the resort that caters to the chinese audience and quite a bit of russian

market and a bit of international market. great occasion for atlantis. wonderful airlift and great area developed by the chinese government for tour rim. david: look at atlantis, you hear of atlantis in the states you hear of caribbean but you've got one in dubai. i'm wondering since that probably caters more to europeans and americans because such a long way to go for us and we can go to the caribbean, how has the slowdown in europe affected that. >> our flagship business is atlantis dubai, that is one we invested in and very strong. european business has been very strong. we had headwinds out of russia. more at mid-market than upper end. one and only brand atlantis we've done nice in upper end of the market. mid-tier has slowed down. germany is strong. gcc continues to be strong for us. these markets continue to grow and we like it for both atlantis and luxury travel. liz: alan, people always want to know how much it costs? the dubai property, i know

people who are going, how much are they spending on this vacation, one night in a double room? >> the average rate in dubai over the holiday season is roughly 550 u.s. dollars. it includes wonderful access to the water park, the rides, slides. what is great, we're seeing nice business, liz, grow out of the u.s. market. with emirates airlift being so strong, great connectivity to come out there. jump with your family in one of the private cabanas in first class in dubai. david: one of the proofs you're doing well the fact you're hiring people. a lot of people out there know somebody or themselves looking for a job. what kind of job openings are you hiring? >> we're looking for talent within the organization. we have close to 10,000 employees worldwide. the tourism sector is a great opportunity for growth. in our brings -- >> at all levels? >> all levels. the nice thing even if you look at the atlantis property. we hire vets because of our marine mammal programs and fish programs. we bring a lost interns into the

business. we develop them through the organization. we're looking for people with variety of language skills. if they come in with good language skills and well-educated, the tourism business is wonderful vehicle for people to grow and develop their careers. liz: as you look at the economy globally there, are pockets of weakness, pockets of strength, possibly the u.s., but overall are you breathing a sigh of relief since we made it through a very tough couple of years? how does it look with your high-end consumer? >> we know we're fortunate. we know tough times. we opened atlantis in '08 after the lehman crash. that business has done very well. the forward business looks good across our markets. we're looking nice into summer business. the one thing positive is group incentive business is always good to see starting to come back nicely. we're seeing good growth in the business and hoping to have good year. david: alan lieberman. kerzner ceo. when will you do a ipo. >> we're enjoying being private

company growing our business. thanks for having me. liz: happy holidays. >> you too. david: with millions of americans out of work many college graduates are having a very tough time getting a job. now one startup is taling to solve the job gap problem. we'll show you how next. liz: we're keeping you ahead of tomorrow's trades with number one thing you need to watch. advice your portfolio can't afford to miss. >> hi, everyone, i'm gerri willis. coming up on my show at the top of the hour, the oil price war between the united states and opec intensifies and the big winner is you. that is one of the big consumer stories coming up on "the willis report" in just a few minutes. ♪ because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up -

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liz: the unemployment rate in the united states may be down to 5.8% but many adults with college degrees are struggling to find a job. david: a big problem. one seattle startup may be able to help tackle that problem. fox news's dan springer with more on the program. dan, tell us about it. >> liz, david, you think after spending $100,000 or some cases more for college education these people would be employable but a lot aren't. the program can be described as career boot camp, that gets recent college graduates ready to get first job. how it works, 18 they call them korus or students go through a final practice presentation. come up with a campaign for a

real company that sells pet insurance. following day recruiters from the company would see the real pitch to decide to hire any of them. the feedback is blunt. focus on making young people gritty and unafraid to fail. so far 90% of the them have landed jobs that require a college degree. that is big deal. according to bureau of labor statistics half, get that half of all recent college grads unemployed or most likely underemployed meaning they're in jobs that do not require the degree they just got. >> people are struggling. they are doing what they are told is the right path. they're going to college. they're paying for their way through college. they're working really hard to get their degrees and something's not working. >> critics say what is not working is the university system as especially the liberal arts colleges. the average student loan debt is a crushing $29,000 right now. some blast college administrators being in ivory

tower teaching outdated stuff and frankly uninterested in getting students ready for their first job. but a dean at yale university says that is not true. >> i certainly believe that quality thinking, teaching quality thinking skills, quality communication skills, deep thinking in broad areas that really will prepare you, and then you can get those more specific trainings. we can help with that in our career services office. >> if you find yourself without a job and looking for koru is not cheap. the bottom line it costs between $2,000 for a three-week course. you can go up to about $2700 for a four-week course. some of that can be online. most of it is in person. you're getting a lot of good feedback. but again, another outlay of money after you spent a lot of money for that college degree. david, liz? liz: dan, thank you so much for the report, dan springer. david: we asked you on social media what spooked markets more today. what a hello of a day it was. drop in oil or australia's

hostage crisis? spencer said the markets are fueled by emotion. hostage situations certainly bring that to the surface but oil is king. liz: todd says why do we feel compelled to make excuses for down market? the economy is in trouble and at some point the people are going to take profits. david: time for the number one thing to watch tomorrow. let's bring in gary kaltbaum, kaltbaum asset management president. this is not the whole week but -- >> fed nothing but the fed are defining force in the market with easy monetary policy. it is about what they say. they will not do much this week. i'm looking to see if they are dovish or talk about tightening which i doubt they are going to do. liz: do you think they're stuck in a corner, a box so to speak if we see europe and china accelerate losses an weakness yet we start to look better and per, what does food do, gary. >> we are better and better. that's why you see much stronger

dollar and weaker currencies over there. yeah, we are in a box and there is not much we can do right now because they have been very slow in moving. david: do you have an idea? frankly i don't think they really have clear idea how they bring down their portfolio. their portfolio is over $4 trillion. how do they get rid of that? >> they don't. they will roll it over. a lot of people believe they will tighten in 2015. i don't think they are because i think a lot of the market and a lot of the economy is on estimates because of them. it will be a self-fulfilling prophecy. i do believe we'll stay easy for very long time. liz: perhaps we get a clue come wednesday with the news conference with janet yellen. thank you, gary. >> thank you. david: good to see you, my friend. we have a very busy week coming up. the question, first and foremost what happens to these markets. whether the drawdown will continue. remember we were so close to dow 18,000. we would taste it, just a few points away.

we're much closer to 17 than we are to 18. liz: it is a two-day fed meeting t begins tomorrow. anything that comes out of it, fox business will be covering exclusively right here. so stay tuned. "the willis report" is next. david: see you tomorrow. gerri: hello, everyone, i'm gerri willis. crude oil continuing its plunge, closing today at just under $56 a barrel. that is the lowest since may 2009 and quite a far cry from the summer when it was $107 a barrel. but despite the boom, u.s. shale producers are creating, opec refuses to blink and will stick to its decision not to cutout put. joining me fox business contributor phil flynn, market analyst for price futures group. great to see you. how low is oil going. >> $55 is a key area. they tested it a lot sooner than people thought they could. if they take that out,5