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tv   Cavuto Coast to Coast  FOX Business  January 4, 2016 12:00pm-2:01pm EST

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the big problem early on was the slowdown in china. that was compounded later with other news about a slowdown in manufacturing in the united states. as we leave you, we got 17,000 on the dow, down 420 points. neil, it is yours. neil: stuart, thank you very much. you're right, it comes back to china, how much we can trust as far as economic statistics out of china. the latest one as stuart pointed out dealt with the factory sector there. we had similar news there. no matter how you slice it, things stay where they are now, this would represent biggest opening day fall of the stock market since 1932. back then on january 4th, 1932, we were down 71 points. that represented about an 8% slide in the market at the time this represents about a 2.2% slide but as i said the catalyst this time seems to be china and this is the first time china has
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implemented what it calls circuit breakers, much like what we do here in the united states to contain the selling. the problem they put the circuit breakers right into the effect before the close. it didn't do anything to mitigate the damage. it just sort of stopped things early. jo ling kent on problems in china and reverberations for us. i think of china and all real estate they're propping up here but take it. reporter: you already seeing that contracting, neil. we're watching shanghai composite down 6.8% as we said earlier. disappointing manufacturing numbers out of china. 48.2 indicates contracting for the 10th month in a row. so you're looking at the 300 largest stocks in shanghai and shenzhen. they dropped 7%, 1:30 after lunch local time. the trigger of the new auto mat i can circuit breaker -- automatic. it was to instill confidence but it didn't, caused more selling.
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pmi everyone is focusing on, features small and medium-sized businesses. those businesses are not covered in official data. it says a lot about the economy. we're looking at this in a broader context right now. market crash last sumner china, 43% down. ongoing anticorruption campaign of president she see ping on president xi. there has been a man on major investors selling their stocks on the ends of these crashes that we've been seeing. and uneven market that ban is being lifted in just a few day, neil and that is likely to cause even more jitters in the chinese markets. stuart: thank you very much, jo ling. we should point out the chinese market was up 9% last year, one of the best performing markets on earth. we should posit last summer was up north of 35%.
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so it lost a lot of ground in that interim. meanwhile focus on today and selling today and who is getting caught up, nicole petallides on big board. i think almost everybody, right? >> you have all dow 30 stocks with down arrows. no place to hide, neil. dow is down 433 points. we're not near our circuit breakers here at home but the big picture you're seeing selloff across the board. small caps are not safe haven because the russell is down 2 1/2%. the selling is broad-based. losers on the dow includes technology and financials. those are particularly weak. cisco systems down 3 1/2%. dupont in there as well down 4 1/2%. when you look at s&p 500 losers, names come to focus, are names such as netflix. down 6.8%. it was up 130% last year. but a story that ties into the
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china story is copper and copper was particularly weak. name such as freeport-mcmoran, that is down over 6 1/2% fossil, netflix, weight watchers and like. neil? neil: hottest runners last year are giving up a lot of ground today? >> traders are saying take a break for the moment. we have a jobs report on friday. we'll see. neil: forgot about that one. nicole, thank you, very, very much. one thing we're noticing, if you look at utility sector, don't want to get too wonky, it is least hammered of all the sectors. selling off, yes, should stress but not nearly percentage overall market is sliding. these stocks pay dividends. there are many analysts say this could be the year of the dividend because for every share of stock you own you get money for it. that could be a safe place to hold some money.
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there is argument in "barron's" and others over the weekend this could be the safe place to park cash over the year. way too early. i want to focus on interest rates. money has to find a home somewhere. found it anomaly in gold but certainly found in the 10-year treasury note, rise in price, collapse in yield, seven basis points refers to yield coming down, when the yield comes down, more buyers come in. occurs at a time when fed is pushing up interest rates, but market rates which it has no control they're coming down. hear talk about flattening yield curve. sound wonky. when that talk continues normally portends, normally a slowdown. we'll see. author suzy welch with us and money guy dave maney when that year is portending. suzie, very early on, one year does not a market make but a sloppy one like this has folks
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going back to 1932. should they? the. >> it is scary right now. we're talking a lot about the china. what we're really seeing is the south china morning post said it is the four horsemen of the apocalypse are here. sustained slump in global commodity demand leading to manufacturing contraction. insane oversupply of commercial and and taxes. chinese economy very fragile. weak fundamentals. scaring the living daylights out of everybody. i don't think china will collapse. i think the government won't let it. you would have to be very, sort of irrationally exuberant to things would be okay. stuart: i think people were prepared for the possibility that things could slow down. they weren't quite prepared for opening day like this, mike. but it is still early here. what do you make of what our reaction has been to china, why we're surprised if china comes out with weaker-than-expected
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factory report? why should that jolt us? >> i don't know why china should be a surprise, neil. after all the past year china experience ad tremendous outflow of capital, tremendous outflow of money. as it rights to the u.s., third largest trading partner so there are problems there. when you look at actual tax returns of all companies, you mentioned interest rates are moving up, those dictated by the fed. short-term rates. that spells trouble for u.s. equities as well. it will be a real stock-pickers market because stocks in the u.s., as measured by prices relative to earnings are very high right now. they're not justified by profits. neil: you know, dave, when i'm sure your customers, your clients get a little nervous,
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they need a lot of hand-holding and need a lot of guidance and don't like the way the year starts out. they look back at a 2015 that was our first negative year for the dow and s&p since 2008. they're already pre-angst-ridden, right? so what do you tell them? >> well, i still think it is in fact a scary year going forward. you've got the two biggest economies on the planet, both governments trying to manipulate currencies into prosperity. and we're finding that the interest rate movements don't seem to make a lot of difference over here and they don't make a lot of difference -- and all the central planning in the world doesn't make a lot of difference over there. so you're at this point in the world where you have not only kind of mideast uncertainty and terrorism, gut-level fear people have but now you have these economic statistics and happens
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from around the world kind of meshing with it. it doesn't, you know, this is kind of environment in which governments like china start to get aggressive and throw sharp elbows. that is not going to help anything either. it's a scary landscape. neil: i don't know what it is, suzie, about the 8th year of a presidential term but you think about it, 8th year of george bush's term, everything fell off and we had the meltdown. 8th year of bill bill clinton's presidency we had recession. march of that year in 2000, bubble bursting. we didn't quite see it clearly at the time. what does this 8th year tell us? >> sounds like you've gone from uber wonk to philosopher king in very short span of time. neil: that is the way i roll, suzie. it is the way i roll. >> i mean i think what we're seeing is a problem where fear
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begets more fear and you enter this vortex. it's a very negative cycle. what do we see ahead is two things happening at same time, on macro level, we'll see this, weak fundamentals spinning out and governments trying to fix it but then what will save us? what will save us? what always save us which is ingenuity and entrepreneurship. that is where china has a lot of problems. that is where america has a lot of strength. we have people who wake up every morning don't look at macro picture, don't look at these numbers, i want to create a great company and build my employees and -- neil: stellar companies from apple to dell, to microsoft were started in the midst of pretty severe recession. you're right, that could happen. >> those managers were not thinking about the recession. they were thinking about building something great. neil: the bigger, broader question whether this portends at least a sloppy market? sure winners last year.
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not so sure winners this year. recovery in 73, 74 months already long in the tooth, that something has to give. >> all the examples you provided, neil, there were real economic reasons why we had problems. whether it was overvaluation of tech stocks with clinton and crazy accounting of some of those companies that you well-documented over time. what we're having here, the good news the dollar stablized and gotten stronger. so we're having influx of capital in this country. the problem is what is holding back some of the entrepreneur, and fact real wages in this country are actually still down from 2008 is small businesses which are really, many of those entrepreneurs and family businesses have gotten hammered by huge taxes and regulation. we need that the to get rolled back for a real recovery. neil: did you see that rolled back, dave, in a 8th year of
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a presidential year tends to be problematic? >> tends to be problematic. this president likes to regulate and power of central planning which the china thing shows it doesn't work, doesn't work on economy or scale of u.s. or china. you have got some bad mojo going on even over of american innovation and entrepreneurialism. neil: bad mojo? suzie, he is your philosopher king. you have got the wrong philosopher king. happy new year to all of them. we told what you is going on with saudi arabia and iran. they're not talking with each other. they quit diplomatic relations with each other, closing each other's embassies down. doesn't take too much for this to turn into something worse. so why are oil prices down? just curse just. after this. -- curious.
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neil: saudi arabia, iran tiff is getting pretty serious. all flights to and from iran is canceled. connell mcshane how this is impacting region but oil prices. happy new year. >> happy new year to you too, neil. oil is interesting to watch. first it was predictable. it went up, back down-to-earth, went back up again. now it is lower again. conflicting forces at play. not only saudi arabia but bahrain and sudan joining in and cutting diplomatic ties with iran but the oil price goes down. you have a lot of oil out there, that is one thing. saudis pumping a lot of oil. even iran with tensions and sanctions lifting there, planning to do the same. that is part of it, oversupply. other thing, nothing happens in a vacuum. think about context, think about
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oil down 35% since last year. anything that happens comes off very low base for oil prices. also not immune, neil, what is happening in the global economy. when which have news as you talked about at top of the show from china and everybody concerned about global slow down in the economy, everybody is not immune to that. conflicting forces i guess. we could well be doing opposite story than we are doing now. keeps going back and forth. neil: very true. reaction is not what you think. connell, thank you very much. former helicopter amber smith says keep an eye on iran and we were emboldening sanctions before this. amber, we pulled this back for a while. think iranians seizing a bit too much on the killing of this shiite cleric. ignoring 47 others who the saudis executed over the weekend but, seizing on this to really
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get things and region fired up. right? >> what we're seeing iran cutting ties with iran, them being tired of aggression coming out of iran. they're tired of the threats. tired of the proxy wars in yemen and influence in iraq and syria and seeing iraq being incredibly emboldened by nuclear deal. they will get over $100 billion in frozen assets once the sanctions are released. saudi arabia is saying no one is doing anything about iranian aggression and their quest for regional dominance and so enough is enough. neil: do you think saudi arabia had to go so far as to execute the shiite clairic? the argument had been, he was fomenting a lot of violence and condoning it and they wouldn't countenance it. but another western leaders, president obama was not among
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them i stress, urging go slow on this the others may be but not this guy but they went ahead and executed him. obviously that is taunting iran. what do you think? >> well, i think that it is definitely an overreaction on behalf of iran. i think it was a message sent by saudi arabia to iran that says look, we're done with putting up what we're seeing from you and your sort of push through the region. this was a very clear message. in terms of the obama administration telling, condemning saudi arabia and the executions that they just carried out, iran last year in 2014, iran was number two behind klein for, in terms of executions. so iran is no saint in terms of, you know, these political executions and holding people without charges. neil: i thought the same thing. when i heard iran complain about the treatment of anyone in its
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country, was a bit of a stretch but they did. now they're trying to galvanize support in the arab world. how does this break down? what do you think? >> well i think this is how wars get started. we've seen in the middle east the united states has sort of control and implements over our adversaries past couple of decades. when we see what happens when the u.s. effectively disengageses in the region like we have over past few years with the obama administration. saudi arabia no longer feels protected by u.s. and iran doesn't feel they will face any form of consequences for breaking any deals, for overstepping their boundaries. neil: fair enough. >> attacking anyone because they will not be held accountable. neil: something is festering here, amber, you're quite right about that. as amber was speaking to that point, united arab emirates is downgrading ties with iran as
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well. saudis have support in conventional moderate muslim world. iranians which many link to terror attacks all over the globe are trying to get their own niche of supporters who will condemn the saudis. anyone's guess how this ends up but to connell's point earlier it has not buffetted oil yet but it has to a lesser extent added uncertainty in these uncertain global times. look at the dow. this isn't an iranian or saudi development as much as it's a chinese development. all 30 dow stocks are down, every single one of them. more after this.
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neil: all right. we're not starting off this new year very well after the furs down year for stocks last year since 2008. a lot of this pretty much, most
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of this, has to do with china showing a weaker-than-expected manufacturing report but they probably overly seized on that and china's implementation of its own version of circuit breakers. let's say it was clumsy utilization if i could just say so. i did, didn't, i? the spillover to our markets and european markets. the fear the spillover that chinese will be poorer on paper, less inclined to buy pricey real estate like this region behind me. but in any case, it is one day but we'll watch it. louisiana congressman is with us. the president is busy meeting with loretta lynch. and they're coming with ways as you know, congressman, by executive action rein in gun sales and limit number of guns out there. is there any common ground on this issue with republicans and the white house?
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>> well, good morning, neil. look, the president, even when he had a democrat majority in congress could not get through any of his gun law agenda and, now he is trying to do it through executive action. no, i don't see any support. in fact we're not sure what he plans to do. we hear such things as preventing people who are on the no-fly list from getting guns but in many cases members of congress have actually been on on the no-fly list because all you have to do is have same name as someone else. it is process unconstitutional and quite mysterious. neil: the reason i ask, a progun groups have expressed quasi-support for sharing state information on particularly distressed, depressed, mentally-challenged individuals, whatever you want to put it, share that with a national gun reg city to make sure they don't get guns or properly screened.
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how do you feel about that? >> well, you know, we've had these mass shootings over recent years. that has been analyzed by "the washington post." nothing has been found about our current laws or any changes to the law that would make any difference but having said that we know the one common element to these mat shootings is mental illness or some sort of mental disturbance but often times the people buy the gun legally themselves or it is given them to them by a family member of all people who knows they have some sort of mental disturb tans. neil: do you think the former of that, congressman, is the worry? if they're able to buy a weapon and not in mental capacity to do so, anyone who has information on them, that should be made available, or do you worry as some of your colleagues do, you're getting into personal information that shouldn't be shared? >> well, you run into the fourth amendment privacy laws. you know, hipaa, which is the
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privacy protection in the health care system, is even stronger when it comes to being firewalled on issues of mental health. so how you break through that firewall in order to prevent -- neil: do you think we should? that here we should make an exception because those type of people maybe shouldn't get guns and shouldn't even consider registering to get a gun? >> neil, i think that we need to address some mental health problems that we have in this country. we have many people who are homeless and so forth. i don't think passing more gun laws are going to solve those problems quite frankly. neil: no common ground with the president as far as you see right now? >> i don't see it at this point. i think both sides believe we need to do more for mental illness. neil: real quickly, gun shows which are popular, and lot of people buy guns from gun shows not professional seller but a guy who has guns, should we limit that?
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>> some states already have, registering private individual selling to another private individual. states can pass that today. really all a gun show loophole really is private sale from one individual to another which can be done at someone's home or parking lot of a gun show. so requiring a license for an individual to sell a gun to another private individual, that really doesn't make sentence but certainly each state and locale has the option to do that. neil: congressman, thank you very much. we'll watch closely again. the president will meet in about an hour 1/2 with the attorney general to iron out plans of reining in number of guns out there. he will have a town hall forum thursday night. we're told it will be a big part of his state of the union address tuesday night. you can imagine it will be front and center, some claim for president's final year in office. it will be his cause de jure. we shall see. selloff going on down on the
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corner of wall and broad. what if i tell you that there is one candidate on the republican side benefit from this selloff who are than any other, because this particular candidate almost has perfectly telegraphed it? after this. ♪ at ally bank no branches equals great rates. it's a fact. kind of like ordering wine equals pretending to know wine. pinot noir, which means peanut of the night. new zicam cold remedy nasal swabs shorten colds with a snap,
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neil: i think we had some live coverage of chris christie at townhall. eighty-fourth place depending on the poll. thought you plan which is marco rubio. ted cruz between them. about one point and a half. pretty close. he is the guy with the best chance to beat hillary clinton. who is the most persuasive case in the middle of a selloff? only you or she can deal with. charlie gasparino on whether donald trump could be that type. now, they are sort of on
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propping. their fakery is all coming home. >> in a market like this, i think that there is a real chance. i think the markets are saying -- neil: to back to back negative corridors. >> the art is pretty low. people walking out of the workforce. trump has a pretty compelling argument. it will help him, i think, hermetically. >> it is not just that. you can give people back working again. back and be a very powerful message. people are ready tend to feel they are not doing that great. doubling down on that.
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maybe a little more. i do not think that there's anything wrong with getting to the american people. >> i am not an expert at his plan. lower rates, lower gas rates, closing loopholes. experiencing some -- neil: we do not work like that here. this year we will try. f ch. doing that to the hedge fund guys. they are all on the same boat. these plans were not that much different. a loser here if we have a recession. president obama's legacy. i do not know what it is about the eighth year of future
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presidents. for george bush, of course, it was a disaster. bill clinton, that is when the bubble starts in march of 2000. what could this president face? would it hurt some candidates more than others? what do you think. >> i think that eventually presidents wear out their welcome. promising all sorts of things. things will be so much better. unemployment numbers percentagewise. we know more americans are unemployed today. we also know that people are not satisfied with where the a commonly used. almost every poll you look at says they think that the people that are doing well right now are on wall street and washington here it i do not think that it is surprising.
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it is candidates that are not part of washington. neil: isn't trump a beneficiary of that? i am in the odd position. the presence of economic. this is just the luck of the draw. bill clinton, seven, eight years. >> it generally does. the headline numbers look good. economic unemployment. that will be very difficult for the democrats. eight ted cruz or a donald trump. >> let me just add one thing here. i will agree that the president cannot control the overall economy. if things do not get better,
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that is a problem. president obama with his healthcare plan. a free market creating more jobs. i think president obama does deserve some of the blame. maybe not all of it. charlie: april market president that really wants to do with the tax code, the overstepping of dood-frank, forget about that. this economy looks like it is about to take off every three months. they will bring back an apple. neil: -- charlie: neil, the republicans. hillary clinton doesn't have that. bernie sanders obviously doesn't. >> there you go. [laughter]
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neil: a couple of these issues may come up in our debate. fox businesses hosting. we are very grateful for the opportunity. charlie gasparino. multiple appearances. notwithstanding. >> at a waffle house. >> we do urge you to debate it. security advice is everything that mattered to you. your money. your life. your wallet. everything. all right. we will have more after this. ♪ we live in a pick and choose world.
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neil: we are back with our business alert on cavuto coast to coast. this is the group, these gun
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stocks. downmarket. smith & wesson. gun control measures. it seems like every time there is gun control on the horizon in this country, you have a story out there. the other ones we will try to show you before we go back to neil. playing with all the turmoil that has been happening. up by 4%. some of those other mining stocks are doing well. neil: amazing with the whole gun thing. thank you, buddy. connell mcshane with that. not only the weakness in the manufacturer. the chinese are notorious.
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there is a grain of salt. the real problem has to be with the way the government try to arrest. we had something similar in the united states. stock trading for a while. accelerates your stock trading for a little while longer. trying to do the same thing in china. right towards the end of the trading days. the sell orders would have to kick in tomorrow morning. starting with another selloff. could it be a case of the government trying to control something where it just sort of exaggerates the pain and keeps it going? what do you think? >> that is exactly what they will end up doing. the free-market is always tricky
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to some degree. when you have a market like this, the circuit breakers do not have the role. likely, it is still going to be, there is a fundamental problem with china as you point out the economy. whatever the chinese government does to stop the market. >> a year we took the training wheels away from the market. all this quantitative easing. forcibly keeping rates low. finally stopping the zero rate. slightly taken off by the end of the year. a lot of foreign governments are saying, well, you know, there is only so much we can do. do you think that the world can absorb governments backing away? >> no, i do not. often you hear people say do not worry about china.
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they need more stimulus to get it going. >> that icing. >> and the economy, too. coming out last week. korea. one of the biggest trading partners. falling every month for the last 12 months this year. neil: is outright? donald trump. inserting him into the mix here. and longtime critic. he was telling me, you know, we had it backwards on china. he did mention something. they had that debt because we buy a lot of stuff from them. they would not be in the position if we had not bought and continue to buy. he was arguing eight hit for tat. does that lead to even bigger problems? >> yes. i am not sure exactly what he is
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speaking of. >> even said we stop buying what is in china. even if that means americans would pay a lot more for those goods if you presumably get them from elsewhere. >> right. in reality, they generally do not benefit countries to much. we are not as dependent on china. i think that that is a very important point. i might add, trying to sell the treasury bonds, they could buy them, we certainly have that. i do not think. neil: nasdaq. pulling markets last year.
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downgraded the stock. down an additional, north oh 6% today. 45% off of its highs. a lot of this came before last year. the quality of the food. the selloff continuing right now. meanwhile, focusing on china. talking about real estate. talking about a lot of real estate doing so. we could see the boomerang in real estate here it the big issue seems to be the impact on all of these big ipos. chinese are. players in this orbit buyers? >> very important market for the future. right now they are a very
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important market for apple. the last big growth area. they do very well here, obviously. most of them do not have the income. our future technology leaders, that is a big market to be in. the problem is these rounds of investment are going in at such high evaluations. going into her or whatever. warranting the valuation. it is not, it is a huge growth there. half a trillion dollars in tech startup valuations. >> thinking about all of these planned ipos. might not be able to lift off. that, i am wondering, my fear seems to be if even one pulls an offering.
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drastically reducing. that will have a spillover. >> all of these technology stocks are failing. we probably will not go there. >> a lot if these are successful money moving favors. >> too much success. half a trillion dollars. the competitor. if they cannot go public in an evaluation, they will not want to take that haircut. they need to go public. continuing to live on. a $1 million valuation. that is the problem. moving to the necessary ipl. neil: if we were to see the same
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offerings a year ago, we would have had half a billion dollar offerings. then we started rising these things with a gdp of latin america. >> we would rdb trading stocks and all of these. they are not public because there is so much money to be had. >> it is weird. thank you very much. happy new year. everyone has been looking at this. that is hardly a fox news alert. we may not be able to press the saudis. why do we? one stabs you in the front. the other stabs you in the back. ♪ innovative solutions to unmetanimal health needs in the 70 billion dollar pet market. we have core competences in drug
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neil: all right.
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look at this. all of these stocks are heatedly getting. that is not why it is called a heat map. they are all down. i know that. they are already. they all humor me. we will find out. we will get back to you. they are all down. all groups, all sectors are getting hit and get it hard. a lot of it has to do with china early on. releasing a weaker than expected report. the latest problem goes beyond that. china's handling. in other news that made it to chinese and holding back. we have some news right now. they lied to us about what they do about the system.
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a complaint against all of them. this was expected. some 600,000 vehicles. something that the government was considering. all right. ultimately, any other day that would have gotten a great deal of attention. the oil market attention. seeing iran and saudi arabia. the way they are talking to each other. these reactions are not quite what they appear. why is all you'll even up on this news? >> that is the amazing mystery. just a few hours in a year. that just demonstrates on how
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strong this downtrend is. typically on a day like this, you see the volatility. going up five-$10. it just is not happening. illustrating how short this market is. using reverse psychology, this is the kind of thing that makes you think, if we cannot get any better, we probably will. neil: saudi arabia's concern about iran. also wanting to cut down regulations. i could see this escalating into something. >> yes. definitely. there is always that responsibility. they do not have the pricing power that it used to. producing about one third of all
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that cartel oil. i think it comes back to the price and looking at things here. we did make a bought him a few weeks ago in crude oil. i think it was on the 21st. we close higher on a weekly basis. that has been in play the last few weeks. you may see some short covering. all on natural gas. let's look at what happened on natural gas the last few weeks. there was no excuse to go higher. >> the short term weather. you do get cold. it is january. it is going to get called. it is not catastrophic nationwide. it just changes the mentality. that is what you need. we go back to the thanksgiving plane getting knocked out of the air and sea area.
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nothing can move the crude oil market and make it sustain a higher price at this time. former deputy under secretary of the navy. again, everyone is focused on iran now. i wonder how we all seem to assume that saudi arabia is just a great friend. the production deal where they are beefing up production. détente things in the middle east with these mass executions. against western european leaders. going slow. i am not saying they are anywhere in the league in iran. what do you think?
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>> well, in the middle east, we have one good friend. that is israel. the rest is relationships going back and forth. sometimes they are not. in this case, the opposition, the saudis opposition to iran is the most important day. it is not just americans that the americans that are producing oil that are affected by the saudis continuing to pump it. lower prices. it is the russians and the iranians. depending on higher priced oil existing to go on. in that sense, what the saudis are doing is plaguing our interest. neil: they would probably disagree with you. the saudis are actually trying to drive them out of business. do you think they took a gamble
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here by executing this one clerk. knowing so well. do you think that they welcome this? >> they were probably sub rise. i think the most important thing is it is really a sign of a panic. they are failing their efforts to aid rebels. failing the united states. they are being left high and dry. i think that executions are a sign that they are in trouble and they are panicking. >> i'm just hearing that the white house has said the u.s.
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has raised concerns about the u.s. right situation. why do you think they would choose now to say that? >> dairy interesting that they're raising human rights concerns. executed and not exactly known for his advocacy and human rights. neil: neither is iran. >> he has been for a long time. to call him a human rights advocate, suggest that they human rights are somehow another concern. neil: thank you very much. former israeli ambassador. dan, good to have you, as always. where does this put things in the region right now? particularly, four israel?
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>> it is always good to be with you, neil. i heard you interviewing your previous guest. everybody looks at what is happening in our very tough neighborhood with great concern. the direct result of the weakness, the hesitancy shown by president obama and his administration. the extremists and moderates. what we are really witnessing is an ongoing fight. the foreign ministry at this. they can get away with murder.
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closing up to iran. going red lines. which ways were moved in theory up. by supporting the muslim brotherhood. very extreme in egypt. at the moment, it is threefold. there is no leadership. there is no stability. they are really just an example of this mess down in our region. i think it is very dangerous. could affect many other countries in the region. >> the administration wasting no time saying there may be legitimate questions about human rights in saudi arabia. not eight people about what was going on in iran. i just thought that it was odd. >> well, it is very odd. the whole relationship with iran
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is very odd. one country that should be distinguished out. let me just use the few seconds that we have left. at the end of the day, there could be an opportunity here for israel. we see more and more interest with countries in the region. including saudi arabia. including the emirates. obviously, egypt and jordan. that time has come for us for those countries to get together and to form an alliance which would actually be a front against the extremists of iran. i think that there is a very real opportunity here. the arab leadership was seized. neil: well put, ambassador. happy new year. >> happy new year to you, too.
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how quickly the markets turn. big winners to today's not so big winners. >> that is one of the big things that is happening today that makes perfect sense. the fact that some of these stocks were of the most / year, you had big games. who knows how much the market may fall. back, you can see the logic in. a lot of these stocks were up huge. up 100%. amazon and others and hormonal cablevision 40-50%. on average they are probably down. they are down because of the market.
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whatever it may be. down. today was up 47%. a lot of that seems to make a lot of sense. neil: thank you very, very much. getting ready for a dba. fox business will be doing it next thursday. chris christie is taking a pretty clear jab at ted cruz. not a solution. a failure due to the vision. deeper political crisis. millions of americans concluded this no longer works. it is unrealistic. going on year after year without severe consequences for all of us. it is not enough to express anger. i think, if you are ted cruz
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tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. >> very big issues last year. they have been slammed by airports.
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pick fine penalties. that is not this way. booming business. acquired autopilots. it is a sending technology. the actual name of the company. it wants to hire all 75. a blog post. it lets it integrate the confusion. making drones smarter and more connect with. it is trackable. obstacles are coming close. it would be good. anyway, intel is down 2%. all the markets are down. all right. in the meantime, if our raider issue. dealing with flooding.
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arnold missouri with the very latest. >> that afternoon, neil. just breaking down into tears. starting the new year off on the right foot. here in this neighborhood, about 100 homes are affected. the waterfield contaminated with sewage. they are waiting in line to have special people come in to disinfect their homes. this ended up kind of being the flash flood. we walk around in this neighborhood. people's belongings destroyed. a couple hours later, the electricity was shut off. here in the state of missouri, there was a national federal disaster declared. declaring a disaster zone in a few counties in that state.
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everyone we spoke to said this is the worst flooding damage they have ever seen. >> thank you very much. the federal reserve. talking about the end of the year. much discussion in the "wall street journal." we should be busy raising interest rates. beyond the economy certainly was standing up. what is going on today in the markets. this is on the wires right now. a significant risk to the u.s. economy. the federal market committee. very confident in interest rates. going up and should go up. more than the markets are allowing. what is going on with china. >> something else. the politicians. very, very low.
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gas prices. so low. sneaking in some higher gas taxes. paying for a whole bunch of goodies. you were saying not so fast. >> i don't know how we come to a place for what is good for the average consumer. that is really where we are. i live in the state of california now. used to live in the state of university missouri and alabama. keeping the gas taxes low. the limousine loved. it hits the middle-class right in the gut. something that we need to watch which politicians are willing to take advantage of this right now. number one, they think they're stupid. number two, they really do not care about.
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>> republicans on board of this idea. a federal level that has not happened in the first 20 years. helping the highway funds. now running out of money. what do you think. >> this history carrying on a politicians. since when do they ever pay our bills? since when are they balancing a budget? it is almost laughable. improving roads and bridges. they will actually wait until the money is in the bank. do not just take a loan. it is all paper money to them anyway. they could care less about actually having the money. it would be great if that were the case, neil. getting us back to the place where we actually have to half the money in the bank. let's not let them get away with that. no, wait.
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>> very good seeing you again, young lady. very good seeing you. we are a few minutes away. forty minutes away. who is counting? loretta lynch over the justice department. the attorney general discussing new gun regulations. they are not biting. he is going to get that pen and get signing. exactly what regulations. how soon and are they even legal. after this. ♪ ♪ every auto insurance policy has a number. but not every insurance company understands the life behind it. ♪ those who have served our nation have earned the very best service in return.
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spin that the president will have an announcement quite soon. he will discuss some steps that his administration has concluded. they are within his executive authority. keeping guns out of the hands of people that should not have them. >> the process is off.
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meeting with attorney general attorney general to go over what those executive action possibilities could need to rein in gun sales. looking at gun stocks. a lot of people buy guns in anticipation. they may dry up. that has always happened. every time this comes up. it was kind of defeat the purpose of what the president is saying. whatever happens to gun sales. it legal no-no. he is arguing, as you may imagine, that he is trying to work with congress. congress does not by touch. he has to do what he is doing. >> that is not the best procedure.
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the way this works is the president wants to see his policy initiatives enacted. getting them to prove it each time into law. >> george bush was very busy. going to far. >> the distinction is federal agencies how to enforce federal law. any executive order that rewrites federal law. we are told, still early as you indicated. factoring out the number of people. gun shows. may not be so easily able to sell guns at the shop. unless they are professional arms merchants. that has ran into resistance. argue that it is not fair, not right. a common ground where is negative order was not even necessary.
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>> it is possible. there are certain things that an agency can do. here is how we want you to go out and enforce it. we have not seen the very specific executive order. he can do exactly what he has done on immigration. taking a proposal that he could not get to congress. a constitution says he just can't. >> one of the things i notice is there are laws in the books on who buys guns and whether they meet a certain background check. we just do not enforce them. i can see your point. in his second of order. just tightening those up. rules on the books. why can't we do that?
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>> we can do that. the president wants to be able to show that he is doing something. enforce the laws that are on the books. i look out and did something that congress wanted to do. pushing the envelope in making new law. that is what he is trying to achieve here. he is not satisfied that the laws are on the book. scoring points. >> you can argue with him. running out of office. >> that is true. at the end of the day, they could disagree. a lot of these issues. across the political spectrum. the ricardo said the abuse, this is not the right way to do it. there is a procedure. it is written in the constitution. >> thank you very much. a quick peek.
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i am not saying we are only down 350 points. it is better than it was.fi much more. ♪ he ran that company. i get it. but you know i think you own too much. gotta manage your risk. and you've gotta switch to decaf. an honest opinion, even if you disagree. with 13,000 financial advisors, it's how edward jones makes sense of investing. . . . . the
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we run on quickbooks.that's how we own it.
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neil: tesla might be bragging about its deliveries of but obviously traders are not so inclined to think that such good news. tesla, of course the big electric carmaker, said shipment numbers released yesterday show that it sold 50,580 cars in
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2015. that was at the lower end of the range of expectations. some had thought they might have 52,000 cars sold and delivered. tesla delivered 208 of new model x cars. that is the suv that first started shipping in september. that was fewer models than originally the case when the company said it made 507 of these cars. so bottom line is, tesla might be heralding this as big event but the market ain't buying it at all. all right. now to politics and money, who is raising money and who is a threat and who is not. bernie sanders, copresident of the national nurses united, karen higgins joins us. karen your group is a big supporter of bernie sanders. i don't know how you would define yourselves but you're a pretty big group, right? >> we are about 185,000 nurses from across the country from
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coast to coast at this point. neil: okay. why bernie sanders and not hillary clinton? >> you know, basically because of what bernie stands for. he is really the real deal. when it came to issues that we were fighting over the years for, which is health care for everybody in this country, to look at the seniors and make sure social security stands, we look at environment and affect it is having on people's health, truthfully became bernie as candidate. as much as we're organization primarily women, we had to look what was affecting people in this country, who really represented fixing the problem so people had jobs. we took care of education. we take care of our seniors t was bernie. there was no choice. we had to really go with that person that really reflected needs of this country right now. neil: who did you folks support four years ago? >> i believe at that point we did support obama at that point
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in time. neil: that makes sense. eight years prior when hillary clinton and obama were you can doing it out? >> you know, honestly we weren't even anorg at that point. we're five years old as national organization at this point. neil: what is interesting about this support, you hear how much money bernie sanders raised. a couple million apart. guy not given much of a chance chance -- you're seeing little risk in throwing money behind him. why? >> you know, we actually, like i said we're nurses across the country. we're watching fallout what is going on in this country we still have to struggle to hold on to social security for our seniors. kids basically will be seniors trying to pay student loans off. seeing fall off of health care and environment. there is no choice here. we are not, we are actually doing a lot of this on our own time, going to rallies. i have had the opportunity to be
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with bernie at rallies. it is to me, amazing, absolutely amazing people are coming by the thousands to see and listen to him. he talks about the issues we face every day. people want jobs. they want to bring up their families. they don't want to spend rest of their life to pay student loans and retire and actually be able to live. he is to me talking about issues we're talking about. neil: he talking about what scares some folks someone will have to pick up the bill and higher taxes on wealthy. >> you know what? as organization we talked about that. we've been outside of wall street and banks saying, it is time they pay back, small tax on them, would bring forth the money that is needed to provide these programs and give kids their education and provide health care, not health insurance. actual health care to people. neil: you think a higher tax for wealthy would support free college and other stuff you're talking about? >> i believe tax on wall street
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would provide what we need to do that. and if that is who the wealthy are, which is the 1%, those are people we're talking about. but it is that very top level of people. again, the transactions that are happening under very small tax on them, it has been proven will actually provide the money, somewhere around $350 billion a year could be put into the system to be able to pay for these programs and give people health care and give kids education. neil: where do you get the 350 billion? what rate would you be taxing them? >> it is like .5%. it is very small amount. neil: .5% on one percent? that wouldn't be 350. >> that is when economists looked at it to be honest with you. neil: really. >> looked what it would be if you put very small tax on what is going on on -- neil: taxes on trades, not just traders. >> that's right. neil: we'll see. >> it will really make a difference. that's what we're looking for the money.
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that is where bernie looking at money. to have wall street finally pay their taxes and help out rest of this country get back on their feet. we're behind it 100%. neil: hear it. wish we had more time. thanks very much. karen higgins. >> i know. thank you very much. neil: these and other issues no doubt come up on the january 14th republican presidential candidates debate. they will probably weigh in on proposes like that. stick around.
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>> time for the fox business brief. we're using our business brief time to tell you we're still down, still down a lot off the lows, off 341 points on the dow but the context will be focus. talk to our friends from "the wall street journal" about the statistics you're about to here. dow on pace for worst day of the first day the year since 1932. there have been 16 years by dow fell on first day by 1%. what do you know, the market averages out for a gain of the year 9 1/2% in those circumstances. last three times it happened, always a however, 2000, 01, 08. market down 16%. '08 is the financial crisis. bottom line if history anified we don't know what will happen next. last year the first date of the performance didn't match rest of the year. anyway neil back in a moment. we live in a pick and choose world.
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choose,
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choose, choose. but at bedtime? ...why settle for this? enter sleep number, and the lowest prices of the season. sleepiq technology tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store... find the lowest prices of the season, going on now. save $600 on the #1 rated i8 bed. know better sleep with sleep number. neil: all right. we're on track for one of the worst opening days we've had since the 1930s. liz claman at nyse with very latest. hey, liz. >> 84 years ago was last time we saw this ugly of an open. neil, if i had a pin and dropped it you could hear it. a lot of traders finishing up vacations here, not the best day. if you look at intraday picture,
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as soon as markets opened, broadly forecast in advance, we knew exactly what happened in china, we plummeted. we were down 467 points for the dow jones industrials. you want to call this a comeback, we're down 340. but it's a ugly picture. s&p 500 down nearly 2%. same with the dow. russell is ugly, down 2.25%. when i mention china, you guys have been talking about it, a terrible number coming in again for manufacturing. this is a highly engineered market. they sit there and they try to figure out how to make the wounds less painful and ugly. but didn't work this time. even with circuit breakers kicking in and halting, hong kong looked terrible. the shenzhen another way people track markets. shanghai down nearly 7%. really bad day here. wish i could have better news for you. neil: maybe you will. happy new year to you. >> thank you. neil: charles payne to weigh in
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on that. he runs a very successful operation. i'm sure you have a lot of nervous folks calling you. >> absolutely. phones are ringing. neil: what are you telling them? >> first of all they have been with me a long time. we've been through these things a long time. we didn't set the record. we weren't around in 1932. neil: i'm surprised. >> start with china, i think it is kind of interesting wall street was caught flat-footed on this, this news, liz was talking about, manufacturing news? neil: right. >> number came in 49.7, and street was looking for 49.8. that wasn't it. what was really it, government last year, during summer melt down put in all kinds of rules. can't short stocks, can't sell stocks. they will put you in jail. they removed rules. guess what happened? all people want out of stocks, they got out of stocks. neil: they have circuit breakers, and they kicked in so trading stopped.
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they have sell orders tomorrow to do what they presumably couldn't do yesterday. >> they are trial, baptism by fire. neil: do you believe chinese anything they say, when it comes to statistics on economy or markets? >> i don't believe anything they say but i don't believe us we say either. neil: cynical human being. >> hard to say. we have 1.2 billion people know exactly what everyone is doing. it is all a guesstimate. when china goes down we don't like it to go down. if they are lying, i hope they keep lying on upside. neil: do you we can absorb a year if china were imploding if that were the case? >> i don't know that we could. but i will tell you this we know the loud and clear, america you have to get your house in order. we have to get our economy going. the idea china will build another ghost city or have miraculous economic growth largely manufactured over last few years it's gone. what about us? we used to be the straw that stirred the economic drink.
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all the world used to hitch their wagons to us? we can get real wage growth and bin investment that would be amazing. i'm not sure it could happen this year. president obama, his policies have been the biggest impediment. towards second half of the year you could see businesses start to take the plunge to invest money. neil: charles payne. two people warned about china over the past year. one was donald trump. of course you know him very well. the other was my friend, a very special friend to this network and both networks, wayne rogers, after this. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain,
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and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. neil: you knew him as trapper john on "m.a.s.h." iconic character only three years into that particular character, wayne rogers said you know what, i
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want to do other things? i want to go into other fields. an actor who was able to keep those residuals and invest them mightily, appreciably, handsomely, and get his old co-hosts to seek him out for investment advice. a man humble and uncannily prescient at market trends. a lot of our weekend shows already gone to tape when we got the tragic news, our friend was gone. so we all started remembering how much he lit up our lives. a look back at wayne rogers, right now. >> we thought we would combine the best of both worlds hollywood and investment community, wayne rogers, president of wayne rogers and company. >> i have the answer. there are more buyers than sellers when it goes up and more buyers than sellers when it goes down. neil: this is the reason we bottom you here. you haven't progressed much since mesh. some of your insights are getting old.
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-- "m.a.s.h.." i'm curious how wayne gets so much money. >> you can't predict. >> there are equal numbers and buyers of sellers. >> that's what you think. i wouldn't trade on information. neil: he at least gave me a little history. brought something to the table. >> yes. you're right. i bring, wait. i do have an advantage. ignorance. neil: all right, fine. prior history says wayne, when it does, get as constructive cleaning out. you don't buy that. >> i don't buy that. everybody should take a cathartic, i don't believe that. you know, because that is not necessarily the right -- neil: i got you. don't have to explain it. >> when you read comments it is funny. looks like compendium after aphorisms. neil: wow. 1600 on my s.a.t.s. consumers spent close to $28 billion over thanksgiving weekend. half just for my wife.
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>> neil, the half your wife did not buy, my wife did buy. i think between two of us -- neil: they will handle us. >> you can walk into some stores, where dough i find the x or the y, or z, whatever it is you're looking for. people can't tell you. that turns people off. they stand in line as you said. they're not going to do it. my uncle once said he wouldn't queue up for "the last supper" even if it had the original cast. [laughter]. so i understand why people don't do it. >> $12 billion in regular retail mutual funds and etfs. way more than in gold funds. individual investor money. not hedge funds. neil: not just wayne rogers going to expensive jewelers? >> dollar has been strong and gold is still going up which is weird. neil: wayne, what do you make of that? not the expensive jewelry. >> i don't think it is jewelry. certainly not me driving up mortgages. might be my wife. i don't know. she could be driving up the market. >> everybody worries about cool-down in housing market and
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we don't get a wrong. neil: wow. what do you think, wayne? >> this sounds crazy but who cares. this is arbitrary number. neil: we have special graphics and music. we have got drums. we've got the whole way the whole show starts. so, it does mean something. >> it may mean something to somebody but it is arbitrary number in my mind. in case you don't remember in the vietnam war the sam missile sites were not manned by chinese. they were mannered by russians. chinese are just as afraid of north koreans as we are. neil: jonathan, i wouldn't second-guess wayne. "m.a.s.h." was about the whole korean war. did you see this couple days ago, wayne got his own star on hollywood's walk of fame. ben stein is insanely jealous. >> yea. neil: well-deserved. >> trapper is on to something. that will not be different whether oil at 75 buck as -- neil: trapper is on to something. wayne rogers to you, young man. what are you doing right now? >> i'm sitting on sidelines until i see the bottom form.
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neil: tell me the exact date, hour, time. >> oh, my goodness, if i could do that, i wouldn't be here talking to you. i would be out on some beach somewhere enjoying myself. neil: i thought the "m.a.s.h." residuals were pretty good. >> we're on same network now. i have got to be careful. feed the kitty. neil: wayne rogers, applause no doubt for you. thank you very much. wayne rogers of cashin fame on new york studios.
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....
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neil: we were watching those great remembrances. also passed away last year. you think about what they brought to the table. not only a market expertise. a sense of humor about it. around christmas time. he would spend a tuneup popcorn.
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he always adds a reminder to me. for your kids, neil. as if he thought i was maybe slightly overweight. this is the same guy that would always lowball himself. i am no market einstein. internet stocks back in march of 2000. i believe almost to the day. it worried him when people were buying homes. when i asked him what the big deal was about that. any idiot can go buy a house. any idiot is giving him the money to do so. he was no idiot. he was funny. he was engaging. if there was anything wrong, he would offer a phone call and a hand and some popcorn. i ate it and has honored this past weekend.
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a good man. good human being. on such a note, i do not want to sadly pass it along to my friend. we lost a great guy. thank you. >> thank you for that tribute. he was, indeed, a great guy. watching a selloff. a global tiedowns. the first trading day off to a pretty rough start. 17,000 for the first time since october 17. weaker than expected manufacturing data out of china. the fears right over the u.s. markets. here with their analysis on whether it is a beginning of a real downmarket. steve cortez and our very own

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