he can take control and supervise what's going on. and if necessary, end it. >> good night from new york. economy are still great unemployment is still at his door close. gdp is still solid the fundamentals are so great. a. >> the white house tries to reinsure investors after they suffered the worst weekend in decades. they hold an unusual call. they are sinking nearly 7% last week as we head into a holiday shortened trading day. they posted at 1:00 p.m. ahead of that. it is now all in the green. in europe stocks did open

mostly lower but look at this. the dax in germany up to tens of 1%. >> the stock trading in japan is actually close for a holiday today. they were down had a percentage point. i live to switch over and talk about the box office right now. they rise to the top of the weekend box office. we will have all of the winners in a huge holiday weekend coming up for you. >> it is 501 in new york. monday december 24.

i think you for joining us on this holiday. a lot of news over the weekend. no vacation for the traders on this holiday. after another week of sharp losses on wall street in a partial government shutdown. he was checking in to see if they have enough liquidity in case they zoom their selloff today. they will also hold a call today with the working group on financial markets. that is the group that he chairs. they are also trying to reinsure investors that president trump has not planned to file the federal reserve.

i never suggested firing chairman jay foul nor do i believe i have the right to do so. this partial government shutdown could stretch into january. he is in washington with the latest. >> congress is set to reconvene on the 27th. but they don't see the partial government shutdown ending anytime soon. not even this year. president sharp is refusing to sign any government funding belt without $5 billion of her's border wall. one proposed government agreement does include that. it's just not enough. >> the counter offer that we gave them yesterday was between those two numbers.

the only thing they will not budge on is that wall. when i can to build a wall. there are many things that we can do. he cites a better better technology and more personnel. mulvaney can see the wall is not the immigration and all solution. it does not solve all of our problems. because so many of our laws are broken. the two sides are talking just not to each other. president trump has present sharp has met with republican immigration hardliners in washington doug mckelway. fox news. >> james mattis is leaving that pentagon sooner than planned.

acting the secretary of defense. matted has been expected to retain his position. president trump ordered the pentagon to pull american troops from syria. president trump is said they informed him that turkey will eradicate whatever is less --dash left of isis in syria. unveiling a justice. that means imported and export duties will be removed on hundreds of goods which include import taxes and alternative meals progress was made in trade talks last week. the treasury secretary weakens falls into the big bank ceo. may had been the worst thing he could of done. gary b smith good morning. you say he tries to calm the

panicking investors. maybe he is panicking. >> when i saw the news i guess it was last night i thought oh my gosh. this is the worst possible thing. i will grant that the markets are scary right now. they are down 20% from the high. they're only down about 10% from the year but we had been through so many of these over the years. this should be business as usual. in the best call me thing he can do in the whole administration is just say these things happened. the markets go up and down but we are in good shape. instead the conference call the liquidity. if i wasn't scared before i'm a little scared now. >> and what you make of the convening with the working group of the financial markets today. they are still trying to persuade investors which is backfiring on them. it makes it even more so.

the plunge protection team. every financial official across the spectrum is brought in. why i'm asking is there something there that we don't know about. >> that would be my concern. and now it's on everyone's concern. >> we have with futures higher this morning. volume might be thin today since it is christmasy. christmas eve. it is a holiday shortened week. but the first two days of the new year give you that seen a clash rally traditionally. we've a partial government shutdown that can last into the new congress any hope for a c santa claus rally? maybe if we really dip more maybe there is a little bit. here is the problem. unlike most other holiday weeks. there is just so much uncertainty now. you have the congress changing over. give the government shutdown.

what is the fed can it do next. if the mueller investigation. we don't even trade about -- talk about that anymore. >> if i was running a big pension fund or something like that with billions of dollars i would just do like most of them i would just go to the hamptons and i would hang out. i would not worry about things. >> a good paraphrase. with the incoming chief of staff. and steven mnuchin over the weekend. trying to reassure investors. we didn't talk about that. and raising interest rates yet. but you have a whole foul overhang. and overhanging the markets right now. they were saying no no no. don't worry president trump has no plans to fire him. >> why did he even bring it up.

was i think he was going to fire him. >> i would not put anything past trump. i don't think that's can happen just like i don't think he is can a fire mueller. that is a problem with this administration i think a lot of times their intention is right but their actions seem to get ahead of things. and that's why think everybody is kind of pulled back right now. i think things economically that are fine. >> and we haven't really seen to meet warning signs but will see. time will tell. with the market. and what they are saying. thank you for coming in. especially at christmas on christmas eve. we appreciate you. >> they had requested the request they said the majority

want to take some time to consider ways to improve the company's governments before holding the regular scheduling board meeting in june. he was arrested in tokyo last month for allegedly underreporting his compensation he owns about 43 percent of nissan. >> space x has launched the first space gps meeting. the rocket named the fuji it took off from cape canaveral yesterday. i will put set --dash ten satellites into orbit. gps technology into a new era. the three program caused 5.8 billion dollars. elon musk said tesla will reimburse customers because of the late delivery. they are expected to enjoy a $7,500 cash credit.

because it could get/in half. some customers are concerned that they won't get that if they have the car in time. if tesla had tesla will cover the tax credit differences. >> did you go to any movies. >> won a superhero making a big splash over the weekend. >> the only way for you to stop this war is for you to take the rightful place. >> reigns supreme earning $67.4 million. mary poppins returns may the second most 22.2 million. i will go see that with my daughter. i heard bumblebee was good. $20million.

in making $10 million in fifth place was the mule. >> and i have something to do. on that know. let's check the stock market. let's look at futures. you have the tao lower than it was before. but still in the green. s&p 500. and the nasdaq 45. still and nothing major at the moment on this christmas eve. and we also have some comments right now about the death toll from the tsunami that hit indonesia. it continues to climb with rescuers. we will have the latest on the situation. with the christmas forecast coming up. you're watching fbn:am. great news, liberty mutual customizes-

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>> happy monday and welcome back. the futures are pointing to the upside after the worst week for the market since the financial crisis way back in 2008. s&p is up ten. nasdaq gaining 42 this morning. and the bear market territory. the death toll is now 281 from the tsunami in indonesia. triggered by a massive underwater landslide from

indonesian volcano. they are digging through debris. searching for survivors. a hunting hunting moment as in indonesia and they get swept away by the deadly tsunami. three others in the lead singer's wife still missing. two people arrested in connection with the drum disruption at london's gatwick airport. no longer considered a suspects after drones were spotted near the airport's runway last week. more than a thousand flights had to be grounded. and diverted over three days leading up to the christmas holiday. and now offers a $63,000 reward to find the person or persons responsible. johnny depp well no longer play captain jack sparrow. he played the lead role in five films over 14 years. they grossed for a half billion dollars but no more

johnny depp. i'm actually quite sad about that. let's take a look at how those u.s. stock futures are faring right fearing right now. it was a beautiful -- brutal week. you know how things can get even though the trading day is ending at 1:00 p.m. we could see some volatility. we also had present trump pushing james mattis out even sooner than expected. over 50 years. in a number of positions. and working under nine presidents. i've never seen a situation like this. and right after the commercial break we will take a look at foreign policy. next. >> help should small businesses prepare for that. we will take a look. you're watching fbn:am.

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>> with some good news on christmas eve. the futures are trading to the upside after falling 414 points last week. and that was better. these are the days where we see major volatility.

we do have an up market for you. jim matus who has been expected in a position since february. he is leaving sooner than planned. he will assume the title of acting secretary of defense starting january 1. let's start with the fact that timing has changed. he was originally supposed to leave. is that just really implying the tension that's going on between the president and the defense secretary. i think definitely at some pretty bad optics here. if they want a more orderly transition i don't think this

is the way to go about doing it. >> backlog some of the other issues. in making sure that the budgetary needs are met for the next year. it may have been the better option here. i think this is just one issue among many. the fact that he has some experience. he has three decades at boeing. a familiar face within washington. what are your thoughts about him replacing matus. it's important to note that he have a strong missile-defense background. it also remains to be seen how long the administration wants and acting secretary of defense versus how long will you take to put forth a

nominee. and will be palatable. a good point to just point out. are the trip coming out of afghanistan. they want to maintain the nuclear deal and then maybe move that deal beyond. when you're pulling out of syria how does that affect the united states aim. >> the u.s. withdrew. a deal that is not just nuclear. i can winding down in afghanistan. you are creating two vacuums. and you actually had less leverage. as opposed to going big for big. this is good to go small for big.

possibly is time for washington to rebound. it think that's a smart move to be pulling out of afghanistan. when you talked about pivoting to make sure that we can fight russia and china. this is something that they actually did help bring to the table. the concerns with the indo pacific theater. or if they're there actually met. i thing it's possible to walk into gum at the same time here. it doesn't need to be one or the other. thank you very much for joining us. on this happy holidays. the futures are up by about 92

points. we are continuing to build up. the markets are closed three hours early today. the white house warning the government shutdown. not everyone is pessimistic. and in ended sunday night football. with the playoff spot at stake. rs and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree.

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>> this is what having a president who is not traditional. looks like. he is not going to be an ordinary president. thus our people wanted when they elected him. it was the third government shutdown this year. as they dig in their heels. walt either side of blink first. and the white house also tries to re- insure investors. as we head into a holiday shortened trading day. stocks are closing at we know 1:00 p.m. eastern time. it's up 96 points.

we know how that can change giving low volatility. the mixed reaction in europe. almost half a percentage point. it was down half of point. we are talking playoffs. who earned a spot and who did not. fbn:am continues right now. that's 531 a.m. monday december 24. even though i read the intro for you. >> merry christmas eve.

we have to discuss what is good to me next with the nasdaq. they have entered the market territory on friday. the cofounder and president. jason, let's start with what to expect going into 2019 i know that this month we don't have very many trading days left. what he think is can happen come january. we haven't seen the january through march there is can we some epic volatility. more for the reason of people are going to be headline watching such as the fed it will be interesting to see what they do. your brexit coming up in march. then obviously you have a china and the u.s. coming up in february and march. it's can be a really interesting time. >> you do have some

headlines. it's adding so much to that volatility. let's start with the tech sector that really brought it down. people move away from tech. is it time to just stop investing. they're not really all on the same plane. if they kill it with the holiday sales. i'm not really sure what people are going to do. there is going to be a lot of tech ipos next year. these stocks lead the entire worker i is a really fair correction.

do you see the increase in capital adventures. rather to just deflate the stock price higher with buybacks. i think the two keys for next year. they will help build the market a little bit. and also i do think buybacks going to make a charge next year. i don't see increased dividend growth. we take a step back. there is always headlines. when you look at valuations from the market. it's around $173.

that's lower than of 14 multiple right now. they could start to look a little bit attractive from those headlines. i know it's very topical because there always seems to be another scandal that's hitting this company is as an opportunity to get in. should we write it out a little bit. what are your thoughts specifically on facebook. in the next deadline. there can it get regulation. nothing that's gonna scare people. overall the company still makes a ton of money. most advertising dollars go between google and facebook and now amazon. at some point it will be a nice stock again. you said you have seen and influx of guarantied structured notes. the people are just really being cautious heading into

2019. it gives them a substantial letter. they are getting the fixed return of about 13%. locking that return in. and they're making at the bet that it won't fall another 30%. as long as the market doesn't fall by another 30% from these levels. they get the original investment back. it's a 50% decline. happy holidays, and merry christmas. with both sides digging in their heels. this one may last well into the new year. it included at least one half a billion dollars for border security.

they would support money for funding security along the border and not the wall. as is more about politics that policy at this point? >> when it comes to shut down its all the same. they are high drama but very little consequence in the long-term. 75 percent of the government is already funded through september. and we're we're on the holiday season right now. as a actually doing that much when it comes to administration. as far as consequences go of the actual governance. that's what were focusing right now this is very much a show for both parties to speak to both sides of their base. why you might not in the short term and that is the question

here. we are try to figure how long this is going to last. >> he wants as well. his back is up against the wall. the time for him to get this funding is that when nancy pelosi picks up the gavel. the time to actually negotiate on this was when republicans were in control of the house in the senate and they could actually have a room and time to negotiate. on this one is very difficult to see how president trump actually has has dollars spent on border security. the one thing he does accomplish though. he is willing to fight even if he doesn't get that. they are not willing to negotiate. especially when the white house came to two and half million dollars. for the second about a little bit of money here.

now she is just trying to appease the far left. you're absolutely right. the fraction of an amount is just ridiculous. it's incredibly small when you think about it in context of the amount of money that the federal government spends every year. we've already seen president trump see the steel/instead of the wall that he has promise. i think nancy pelosi and chuck schumer are in an incredibly strong position going into the new year because as we know 2019 is all about them.

let's see how long this one last. day three of the government shutdown. let's actually look at how those u.s. stock futures are shaping up ahead of that. the dow up 86 points. forty-three points. that's also exciting. sunday night football. dramatic ending when they battle against the pittsburgh steelers. he has the highlights.

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>> one more day till christmas. and then it is the playoffs. we have the highlights from the top games with jared. they need a went to get into the playoffs. they go for the that touchdown passes they led the chiefs 3128. and then an interception by patrick mahon's. they would win this game to

get into the playoffs the saints then would get a touchdown pass from drew breese late andrew breeze late in the game. he would connect with just about a minute 25 to play. they clinch the home field. there 13 and two. might just seem like another season of injuries. but many years from now will look back and we will speak of this nice round number. ten consecutive division titles. the new england passes houston for the number two seat. they are around the new york and new jersey area. more than usual. playing in the same early timeslot.

they suffered kick in the gut types of losses. they led the packers 35-20. they lose in overtime. forty-four-38. shortly before the giants. lost 28-27 in indianapolis in the final minute the colts will play the titans next week. they are a little bit touchy today. 115 career touchdowns. here comes larry fitzgerald. what he did of 70 puts smelling salts under your nose. she couldn't resist.

i think it's just funny. the natural reaction. get that away from me. it's unbelievable. let's take a look at how futures are doing. a bruising week last week. s&p futures up 12. nasdaq up a most three quarters of 1%. 2018 almost in the also the history books. but how will the new congress affect small business. and despite the government shutdown.

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>> good morning and welcome back. let's get you cut up on what's happening right now. let's start with the u.s. futures altering in the positive territory for christmas eve. dell up 86 and the nasdaq up to 45 points. the group that organized large migrant caravans to the u.s. border are under fire. people without borders is being accused by migrants themselves of encouraging a dangerous journey. the group is also accused of misleading migrants about how long they would have to wait in mexico to apply for asylum. this comes after president trump request funding for a while along the united states and mexico border. >> we have bob corker who is accusing the president of

creating the fight that led to the government shutting down saint it was a made up a fight. he shot back on twitter saying that he will not be seeking reelection because of his low popularity with republicans. despite the shutdown norad will continue that tradition of tracking santa class for christmas. they will be working tonight to keep a running tally of gifts there. there is for the 63rd straight year in a row. it was not affected by the partial shut down because the department of defense against its budget approved in september. if you're wondering santa right now is in the north pole feeding reindeer. >> he'll be heading to the arctic ocean at 6:00 a.m. eastern time. >> small business owners may want to start thinking about how they can save money on taxes. cpa and owners mark group joins us now.

these are some tax tips for small businesses. >> let's go through this and do this. number one if you are a small business like most small businesses you're probably filing a pass return. you might be entitled to a bake deduction this year. in addition to that. standard deductions had gone up. individual rights have gone down. see what your tax liability will be for 2018. you may be able to adjust your january 15 estimated payments. >> why are you telling small businesses they should invest now in capital investment. the deduction went up to $1 million for most small businesses you'll had to just buy that. that's like furniture and fixtures. and equipment for your business you can get the full deduction. so get it, get in service

before the end of the year. take that deduction before the year end. >> how about starting for a one k plans. only about half of small businesses have a 4o1k plan because of last years tax reform there is a really cool credit available for small businesses if you less than 100 employees and you start up a new 4o1k plan by the end of the year you get a $500 tax credit on the taxes that you owed for the next three years. if you get that set up before year end you can benefit. >> over the next three years. it goes against the taxes that you owe. it's not a deduction. >> you don't want to put your six-year-old behind the phone. if you have a middle schooler or highschooler and you get them working. as long as you're not making money anywhere else because of

the standard deduction you can pay them up to $12,000 and you can take that deduction that i have to pay taxes on it and everybody wins just make sure that you take the paycheck out of their hands and put it into a savings account. >> arguably they don't listen to you if you are the boss. >> how is a holiday shopping season doing for small businesses from your perspective? >> of the national retail federation is expecting a 4% increase. big time for people coming in stores. but even bigger for online stores. for both small and large retailers. it's also been a large -- a long holiday season.

there is christmas chair out there. we wish you a happy holiday. thank you, for those tips. >> will take a look at what is driving those markets as we get ready to write -- wind down 2018. you're watching fbn:am. [music] the hard work you put into lowering your very high triglycerides with diet and exercise deserves the hard work that went into the science behind vascepa. prescription vascepa. vascepa, along with diet and exercise, has proven results in multiple clinical trials. vascepa looks different because it is different. over a decade of extensive research and development achieved proven results. that's the prescription power of vascepa. vascepa is not right for everyone. do not take vascepa if you are allergic to icosapent ethyl or any inactive ingredient in vascepa. tell your doctor if you are allergic to fish,

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>> you're watching right now, and you're wondering what's going to happen in 2019. we're going to dig right in with scott shellady who's joining us from the cme. let's just get straight to it, the fact that mnuchin called all of these bank ceos, isn't that just psyching investors out? >> yeah, you know what? that was probably not a good idea. i know why he did it, but when you overly assure people, i don't like it.

the markets are looking for a reason to sell off, and they're looking for a reason to bolster them, and until we get out of the psyche, we have people want to sell the market no matter what on good news. we need to let this go through the markets, and i think we're getting there. we're starting to reach these lows, and the markets are oversold, but we're going to have to have that investor psyche get changed, but i think they dropped the ball. >> how do you change it though, scott, is the question. did he want the banks to tell them, oh, there is a problem. wall street keeps saying there is a problem. we see it too. what did he expect the banks to tell him? >> exactly right, he already knew the answer, and that's what you're supposed to do in those situations. at the end of the day, let's slow our role here. there's been no surprises, right? we all talk about black swan. there's been no swans, we haven't seen anything that's surprised us, we've just worked

ourselves into a tizzy, and we've seen the technology get behind the selloff, and that's what's driving it a lot lower. it's almost like we're at that relative that feels guilty about how well they're doing, and they start to tell everybody that his life's horrible. we feel guilty, we're borrowing trouble. let's get true this -- lauren lauren what kind of family do you have, scott? jeez, that sounds miserable. [laughter] >> i want to talk about the credit market and do you really see this as being a massive bubble especially when you consider no junk bonds issuance, leveraged debt just climbing higher. what are your thoughts on that. >> yeah, it's something to be worried about. yes, i want to keep an eye on that. but, you know what? just because some of those things are creeking a tad doesn't mean that we're in some sort of def-con 5 situation here. 3.7% unemployment. we haven't seen wage growth that's going to give us an

inflation scare. all those numbers out there with earnings as well. when we talk about recession, you know, that's another borrowing trouble thing. we're not going into a recession with numbers like that before. have your turkey, relax, it'll be okay in the end. lauren: we don't have turkey on christmas, scott. show me the price of oil, we are looking at about $45 and change this morning. can opec do anything to turn this around? >> no. no. you know what? that's another market -- again, i think it was even on this show we were talking about brent crude 80, $100, remember? you know what? the trade got it wrong, and the self-fulfilling prophesy started to kill them, we saw the technology get behind that selloff, and now we're going to have a find a bottom here, and it could go lower. that's the end, i think. >> thank you so much, scott. have a great christmas. >> all right, see ya. lauren: and let's say merry christmas to charles payne, he's

in for maria bart romo. charles: i'm charles payne in more maria today. it's monday, december 24th, it's christmas eve, and we've got a lot of big stories today at 6 a.m. eastern. in fact, on wall street just in time for the holidays, futures showing all four major indices could open higher. this as treasury secretary steven mnuchin made some special calls to the ceos of the nation's largest banks yesterday. plus, a preview of mr. mnuchin's call today with president trump's working group on financial markets also known as the plunge protection team. meanwhile, the major indices posted solid losses on friday, the dow losing 1.8, the s&p 500 down 2%, nasdaq down nearly 3%. markets taking losses last week on economic worries, the fed rate hike situation really playing a big role here.

this while president trump has actually called hiring fed team jay paul one of his -- jay powell one of his biggest mistakes. secretary mnuchin says he doesn't believe president trump has the right to fire powell. in europe, it's a holiday-shortened season in the u.k. asia markets mixed overnight, the nikkei is closed, hang seng both it should lower. the shanghai gaining almost half a percent. looking for a deal? well, the government shutting down early saturday, and it could last until the new year. senator david perdue telling maria he hopes it won't come to that. >> i'm hopeful that cooler heads will prevail, we'll get to some number between 1.6-5 billion on that if we would