we hope it has effect what is happening in hong kong and china. we wish them the very best. we wish all the peace in the world. they need it in hong kong and china. connell mcshane is in for neil cavuto. i want to wish you, connell, all the viewers out there, especially my family watching, very merry christmas. connell: we'll see you soon, sir. welcome to "cavuto: coast to coast." we'll be hear next couple hours. a lot going on, even on christmas eve. we'll have fun with christmas. we have serious news to cover. i'm connell mcfilling in for neil. there are protesters in hong kong back in the streets as the protest movement going on for six months continues. the police have been using tear gas, at times last night in hong kong time turned violent. it is early christmas morning. we will watch the market. we have a hour to go in the

trading day. former dallas fed advisor danielle dimartino booth and alan knuchman out in chicago. quick word on hong kong. that has been developing throughout the morning, night there, then we'll talk about the markets. those are violent scenes we have on our screen danielle. this has been going on, going on for six months. i was there at the very beginning of the protest movement. the protesters with the goal to have the extradition bill delayed and taken off the table all together, had some success. but they have continued. the police continue to fight back. you wonder how it all ends. what do you think? >> you do. people should try to recall on per capita basis hong kong has some of the highest income in the world. it also is the conduit. it is the way that china access es the world financial markets. the fact it is in recession

cannot be overlooked. this is something that is clearly not dissipating. it is not going away. i think a lot of people thought by now we would have seen this come and go but it has not. this will have an effect on the global economy into the new year. it is something we cannot, we cannot stop monitoring. connell: you're right. danielle makes a good point, alan, if you take a step back on this, 30,000-foot view of hong kong, it may never go back to what it was and what it was a very important component economically of how, you know, we all interact what is going on in asia. >> some sort of a buffer zone. you talked about the big money over there she alluded to. it is serious business. i don't know how long they can let this go on. there has to be some sort of a solution. so far there is very limited impact. i think more focus on china has been with us, than with that, as far as hurting their markets. but it is something they definitely do need to solve.

connell: to that point about the markets, talk about it a little bit. we're in the final hour of trading for those not paying close attention. we close it up on one street one hour from now, short session for christmas eve. the records continue. danielle, as 28,500 on the dow, you wonder how long they can continue for. to alan's point. a lot of people talk about china trade, phase one deal. all the rest as we wrap up the year. from where you sit, you look closely, as you always do, how federal reserve impacted how we got to this point. more importantly where we go from here. how active the federal reserve will be in 2020? >> you know, i think the market right now is, we have to remember where we were a year ago, with the christmas eve bloodbath in the stock market, with stocks crashing on christmas eve. connell: yes. >> people should pay attention to the fact that since jay powell fired up the printing press, the "fang" stocks, emerging markets, equities they have seen half of the gains of

the entire year come in just since mid-september when jay powell started printing money again. it is a much more important factor to stock, to the stock market than any china trade deal or trump hitting google translate so we can get the phase one deal translated. it is really a sideshow compared to the importance of what the federal reserve is doing and markets focus on what it is going to be doing into the new year. i think that this is the only thing that matters to market roost it now. connell: what is your perspective, alan. >> i love what she is saying. much more about the price than the politics and policy hopefully we put that behind. if you saw last december, we had almost same news we have now, on again, off again, trade deal, markets reacted totally differently. we moved forward, we're 37% off the december 26th lows in the s&p.

this december is definitely to remember as opposed what we had last year. connell: let me follow up, alan, what would your perspective be where we go next year? right. connell: the setup is so much different. >> exactly, we were collapsing last year. we had a huge rally. if you take december's decline and make it a 13-month year, instead after 12-month year, the rally wouldn't look great. it is perspective where you are. >> right. connell: what about next year as we set ourselves up give the rally at year's end? >> i'm very positive. being a technician i focus drop from the top of 600 points. when we took out the highs in july and october, markets rallied. so that target is 3500 in the s&p. a lot more upside. i see a lot of positives. macro markets coming back. seeing gold stablize. seeing crude oil move up. let's remember, all of this happened, backdrop of politics we want to get into.

all of this happened with a. connell: recession. we saw negative growth in earnings quarter after quarter, still made all-time highs. that is going to change in 2020. we'll get positive earnings growth. that will be a catalyst, possible decline in the dollar, it will be very helpful and very stimulative to the stock market. connell: a federal reserve, danielle, quote, unquote has our back. >> pushing buttons. connell: bushing buttons, right, danielle? >> absolutely. they will keep their foot on the accelerator. i understand what alan is saying. i'm a bit concerned we have seen earnings expectations come down going into the fourth quarter earnings season at faster pace than we have over the past five, 10, 15 year period. so i think there is indeed risk on a fundamental level going into the new year. i worry what is going to happen in overblown, overheated credit market. connell: okay. >> again to technician's point, momentum definitely on our side. jay powell is not going to step

back from what he is doing. he is going to be much more aggressive if need be. he will grow the balance sheet. we can call it real qe in 2020. whatever we want, jay powell will deliver. >> he has a job to do. connell: whatever it is. that's the debate right or wrong, it is what it is. we'll come back to it. come back to the market as well. close up for christmas in an hour. welcome to both of you. thanks for coming on. >> merry christmas. connell: talk a little retail. it is christmas eve after all. last minute delivery dash is certainly on. same day deliveries are proving to be, kind of a new problem for some companies that's developed. kristina partsinevelos is covering that for us today. >> it is not too late. are you a last minute shopper? according to national retail federation survey of roughly 75,000, 6% like myself plan to do all holiday shopping today. this comes after the single

biggest retail day in u.s. history according to customer growth partners. consumers on super saturday or we can call it panic saturday, spent over $34 billion. that is more than 10% we saw on black friday sales. the results show strength of off-line retail. adobe analytics, predicts, online spending should increase 18% on the holiday season as store foot traffic falls that means pressure is on for delivery companies. of amazon promised same day delivery today, if you order 9:30 a.m. local time. looks like you missed deadline. amazon blocked sellers from using fedex ground shipping delivery. fedex president still expects package volumes above the for the holiday season. that is congestion and speed on the roads as delivery connections grow. buzzfeed reports that amazon puts speed and profit before

public safety during the holiday season. it was revealed past 24 hours, a van that collided and killed amazon executive six years ago was carrying amazon packages. amazon did not get back to me. stay safe on the roads as everyone rushes to buy last minute gifts. retailers should expect to deal with a massive returns tab. a report found that approximately $42 billion worth of online purchases alone are expected to be returned. so, hopefully, connell, you like what you get underneath the tree. connell: not change the subject to me. are you really, is this really, all of your shopping will get done today? did i catch that? >> i dedicated my time to working for fox business. i didn't go back home to canada. therefore i don't with to buy many gifts for people because i'm here alone. connell: now you made it into a sad story. merry christmas. >> thank you. connell: good luck with the shopping. oh, boy. we change to washington for a

little while. we head into the new year apparently tax cuts are back on the table. the white house has been talking about a possibility of tax cuts 2.0 as a lot of people are still talking about impact of the first round of cuts. to some extent that impact is still being debated. where hillary vaughn comes in. she is at the white house with more. reporter: connell, democrats criticized president trump's tax cuts really not doing much for the middle class but we digged into the numbers today for you. we found middle-class families especially are saving a lot more under this tax reform. let's look at a single person making $30,000 a year with no kids, start as comparison. their saving about $378 under this new tax law. when you compare that to single parent with kids, the tax break is a lot higher. someone a single parent making 52,000 with two kids saves $1800 under this tax cut.

when you look at someone making a little more, single person making -- with no children making $75,000 a year save $1700 under the tax cut. compare that to a family of two bringing in $85,000 a year, two kids, married family, they save $2200 under this tax cut. but these tax cuts are not just putting more cash in people's pockets. people see more higher wages, take-home pay. a lot of people this christmas celebrating the fact they have a job because unemployment is down. thanks to businesses bringing more people into the payroll. we heard from white house trays advisor peter navarro says the administration is not done with the changes they made so far. he sees 2020 as a new year and a lot more to be done. >> it will be a boom year in 2020 for the american economy. i'm looking at growth closer to 3% than 2%. i'm looking at the dow, well

over 30,000. reporter: one big thing we expect to see in the new year, the final signing of the phase one deal, trade deal between the u.s. and china. the president saying this morning that he will sign that deal with president xi. >> we'll have a quick signing because we want to get it done. the deal is done. it is just being translated right now. reporter: the president spent his christmas eve morning the same way past three years, video chatting with troops stationed overseas this christmas holiday. connell? connell: hillary vaughn live at the white house for us. a quiet white house at christmas eve. as we continue we do have impeachment news to bring you because democrats in the house are apparently, according to reports thinking about the possibility of new articles or additional articles of impeachment. some democrats however worried about the impeachment push that is being made and the idea it might backfire on them politically. so all of that is coming up. we'll be right back. it is "cavuto: coast to coast." less than an hour to go in the

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connell: couple of political issues to deal with. number one, there are new signs the senate may not be getting articles of impeachment anytime soon whereas in the house of representatives, apparently the judiciary committee, some members of it, may be looking drafting new articles of impeachment against president trump. the former clinton pollster, doug schoen is with us today, on impeachment push. whether doug, it could backfire on the democrats. what do you think? >> i think there is some evidence that it is. trump's approval is up marginally in the last few weeks. more particularly and specifically, his vote share against joe biden, the other democratic front runners is also improving by about five, six

points. so, there is some evidence that impeachment is not working out the way democrats may have hoped. connell: either way, even if it doesn't completely backfire, at very least, it may be a non-issue. we may be talking about completely different things by the time we get to november. unless articles are delayed more than we think? >> i don't think they will be delayed all that long. as a matter of sort of politics, anytime we're talking impeachment, this process is not helping democrats when we talk issues like climate and guns, health care. it does help democrats, certainly more than talking impeachment. connell: i identified you as a clinton pollster. >> that's true. connell: that is what you're famous for over the years or infamous. today you work for mike bloomberg campaign for president. any traction to report? >> he has gotten up 6, 7% in number of polls. he is in fifth place.

he has only been in the race a month. his trajectory is up. communications is good. advertising is good. he is putting together an aggressive campaign in the swing states. win, lose or draw he will focus on donald trump. this has been a very good launch. connell: the way the race is developing though, it is going to develop without him i guess on purpose. he got in too late he figured to compete in those very early states but the way it is developing there, mayor pete buttigieg has done quite well. may even win according to some polls in iowa and new hampshire. >> could. connell: former vice president. maybe this is part of logic for bloomberg getting in, others hoping to do better. joe biden has not collapsed. held up pretty well. >> he has. i think logic is, first four races in iowa, new hampshire, south carolina, nevada, will be in conclusive. there will be opening on super tuesday. those are states mayor bloomberg

is concentrating on. connell: yeah. >> time will tell if that is smart or effective strategy. connell: in your view, get back to impeachment. >> please. connell: circle it back to all of this, that has impact on it? once you have the senators, senator sanders, senator warren, senator booker, when they're not on campaign trail that does impact the race if there is lengthy trial. >> if there is short trial, couple weeks i doubt it will have too much impact. it matters more for the party as a whole because the message of impeaching donald trump and potentially impeaching him again if headlines be believed, i think sends the wrong message to the american people. connell: i think one of the things depends on where you sit, what bubble you're in, what news you watch, all of it. some will come in, tell you, president is under impeachment, he is not polling well is in trouble. others now have started, i mentioned this yesterday, come the last few weeks, supporters

of president. you know what he look pretty good right now. the economy is strong. china trade deal is in place, stock market at record highs. how difficult is donald trump to beat from a democratic perspective in 2020 do you think? >> i think he will be tough to beat because of good economy. we're at peace in large measure around the world. i think donald trump's greatest enemy is donald trump. i mean if he can keep it together and try to bring the country together, i think it will be a far stronger candidate than if he just lashes out as he appears to do day in, day out. connell: like john dingell controversy from last week, those are types of things that democrats are hoping to capitalize on? >> i think so. those are unforced errors that largely i think we as a nation, he as a president would do best to avoid. connell: doug always good to see you. great holiday happy nee -- new year. >> looking forward to it.

connell: general motors, there is a story out about general motors pushing forward with a car, if you look closely something is missing here. a car with no steering wheel. so is that getting out of control? suite be right back. listening and observing are critical skills for scientists at 3m. one of the products i helped develop was a softer, more secure diaper closure.

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connell: is gm about to have wheel problems? that is horrible pun. i apologize. we have a new writer, christmas eve. that is the best we can do. this is interesting story about general motors. general motors providing us with images what they're calling the next generation electric bolt and, there is no steering wheel. you can see it. no steering wheel at all, no pedals, no nothing. keith fitz-gerald joins us. what do you think, keith, good idea, bad idea, awful idea? what do you think of the gm no

steering wheel concept? >> as petrol head, self-acknowledged gearhead i love to dry. this is a bug in search of a windshield. every technology has got to move ahead. we have got to get to the point but i think they're overly optimistic. that has been proven time and time again. the legal system to make matters worse is not ready for this, connell? is there software error? do you blame carmaker, software? you don't know what happens with these rules. connell: let me ask you to be serious about the future of driving, autonomous driving, at some point it is colling our way. already here to some extent. coming our way in larger, larger rollout. at some point autonomous driving has to be truly autonomous right, to work? drivers would be eliminated at some point, no? >> well, i think that is a fair assumption. i think it is inevitable but does that mean it is imminent? i don't think so. i think there is a lot of wrinkles that have to be sorted out. we proven time and time again we

can't handle social media properly because of the way we are in this country. how will a car driving in set of human traffic? we will get there, there is no doubt. connell: i think interesting, interreaction, seen numbers of studies, worldwide a million plus people per year die in traffic accidents. people advocates for autonomous driving will tell you the number will go down. they're almost definitely right over the long haul if it was done correctly and one of the things to me they have to figure out, how will we get through the transition period with humans on the road driving cars? you like to drive. there are new cars coming in with no drivers? if you had just autonomous cars, that would be fine. just humans you would be better off, but two working together, how do we do that? >> well, i'll tell you again i think this is going to be a really, really tough transition because of people like me who like to drive. connell: yeah. >> people who think they will be safer on the road.

law of unintended consequences rearing its head here. imagine your insurance company, connell, you like to drive? we'll charge you more because we believe in autonomous cars. how will that play out? i think we're 10 years ahead of ourselves. connell: looking ahead to 2020. this might be 2030. let me get to a question if i can about boeing, our story of the day and yesterday. the latest on boeing, it came out and told the suppliers of the 737 max, that the production halt they're putting in place means no parts for a month. people start to say, well, is there trickle-down effect, effect on supply chain, and some other companies, bowing share price down -- boeing share price down 1%. what do you think? >> i think it breaks boeing suppliers into two camps haves and have-nots. big supplier makers, ge, doing engines aircraft and fuselages

versus mom-and-pop shops. they have 16 to 20 weeks to deliver. boeing can take 90 to 120 days to pay. they're into labor. this is real serious split. if this continues, a lot of sub shops, mom-and-pops, out of business. connell: keith, good to see you as always. merry christmas. see you soon. keith fitz-gerald. speaking of christmas, santa claus stories coming up finally. one very interesting story about not the real santa claus. but people dress up as santa claus in the mall. help them out. a santa side hustle, making a few extra bucks on the side season. grady trimble is all over that. don't tell the little girl. santa claus is very busy, this is his big day. this is not a joke. i'm tracking him on my laptop as we speak, santa claus is 2 minutes, 20 seconds away, landing spending a very short time in kazakhstan. we'll right back.

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>> a fun snowball fight, is a fun snowball fight. that is not something we enforce this ordinance with. connell: big story, we have a

ban on throwing snow balls. it could apparently soon be thrown out. this is wausau, wisconsin. they banned people from throwing items that hurt others. rocks were included which makes sense but so were snowballs. big news on christmas eve, the city council will consider lifting that ban. they hope to get to it by next month. can only hope. know balls could back in effect in wisconsin. cofounder of uber is in the news. departing from the board of the company after selling off a majority of his shares. there is the stock price, 30 bucks. gerri willis from the new york stock exchange for us. hey, gerri. >> connell, that's right. adios, travis. he is on his way out the door. he was ceo of the company. kicked out with 2017. he said i will focus on new business and philanthropic efforts. he is starting something calling cloud kitchens.

which sounds like a competitor to uber eats. maybe that has a roll. he is selling off his $2.5 billion stake in uber. talk about tesla for a second. this stock hitting new all-time highs today. as you know, the shares hit, then went above 420 a share. that is a level that the founders said, when i would take the company private, right? elon musk is having some sweet revenge this week over the shorts who plagued him for months and month. he says on twitter, stock is so high. laughing out loud, get it? funny little joke there. amd, advanced micro devices 2% higher. rbc raising the price target to 3 bucks from 53. lot of hopes for this stock. second best performer in the philadelphia stock index. it is up 150% year-to-date. analysts see shares rising through 2020. they are positive on margin increases next year. so lots of hope on amd.

they are having a great christmas eve. so this is a much nicer christmas eve at the stock market than last year. connell: last year, what a disaster. >> we're having a good time. not selloff time. connell: santa is in russia. i was half listening. i'm listening but monitoring santa. he is making his way through russia at the moment. >> is he done with kazakhstan? connell: he is done with russia. russia is big country. there he is. over two billion gifts to give. he is high above. thank you, gerri. help him out when he is busy this time of year, so-called mall santas. there is one. there is another. they are in the news today because of the gig economy. if you look to make extra cash on holidays, mall santas helping out real santa making big bucks. grade sy -- grady trimble in

chicago for the santa hustle. reporter: busy day for last-minute shoppers. you know who else is having a twist -- business. santa can make $30 and hour and the really, really good ones can make $75 an hour, if you count up the 40 days around christmas, that you would have to work, that is $20,000 in just that two-month or so period. they can make even more on christmas eve and christmas day, although some of the people i talked to here at the mall say, it is just not worth it. >> this guy put on good show, they really do. they earn every penny. >> if you grew out a beard you might pull it off. would you think about it? >> no. no. i wouldn't. i don't need the money. it is not worth it, huh?

>> no. it would be, it would be fun but, fun to do it for 30 days. reporter: yeah, i guess he doesn't want those crying kids sitting on his lap for that many days in a row. i don't blame him. it is no wonder santa is so jolly when he is making decent cash doing it. by the way, connell, i was thinking about the corporate structure. you were mentioning the real santa claus we're tracking going around the world. he would be ceo. and elves might be senior vps. these guys are important. to attract top talent you have to pay well. connell: you do. 75 bucks an hour is not half bad. ralph, the executive producer of this program, just handed in his resignation when he heard that in the control room. thank you, ralph. thank you, grady. good story, christmas eve assignment at the mall with santa? reporter: not bad. not bad. connell: this is a larger conversation to have about santa clauses and side husband ses. not just the guy going to mall

to play santa. more states are looking to classify workers as company employees. this affects uber drivers, door dash, heard about a lot of companies. it is wider than even that. there is a big deal in california. the gig economy law goes into effect at first of the year. from independent women's forum, patrice lee onwuka is here on this. patrice, this started off as a law where politicians were trying to protect workers, freelance workers, when they were basically working full time but seems like actually according to what we're reading right now hurting some other types of workers, right? >> oh, absolutely. this was a huge dragnet unfortunately pulled a lot of different workers, freelancers in, including journalists, independent journalists may write for different news outlets and websites. they suddenly may see a cap on

the amount of stories that they can write for a particular employer. this is just a signal coming from revenue-hungry lawmakers who wanted to target the gig economy. if we can't get them one way, why don't we get them another way? by forcing them to reclassify a lot of their workers as employees, full-time employees. that is simply not right. connell: you brought up journalists. i was reading about the carveout they put in this bill for people who work in this profession. basically what they said is that you can work as a freelancer, as a journalist, there is a carveout but can only submit 35 pieces to a company, 35 or fewer. think about it. say you have a job or you have a few jobs. one is writing a weekly column, say, for example. already, if you take a few weeks off you're above the 35. those people could be out of luck? >> well, a lot of them, freaked out, understandably because these are, these are ways for you to have a flexible work

environment. you're submitting your content. you're raising your national profile. you're an expert in that particular area. and so, what i hate here is that, california setting an example for a lot of other states. we just saw it in new jersey pass very similar copy and paste legislation in october based on this. so, you know, while i don't like the idea of different industries getting carveouts out of this, i think it needs to be overturned. hopefully through a ballot initiative voters say no, wait a minute, people, stay-at-home moms, retirees, they want flexible arrangements. they don't want to be employees. they want to be their own boss. they want to be independent contractors. connell: understand the point how they started here. maybe some people will be facing abuses. then you end up hurting others. >> exactly. connell: in all kinds of professions, now they may have limits how much they can work. patrice, thank you, always good to see you. >> good to see you too, connell.

merry christmas. connell: merry christmas. christmas turned violent in hong kong as we told you earlier. police using tear gas as protesters were back on the streets on christmas eve. these videos from earlier in the evening there. we will have an update on what we have learned since then from hong kong. that and more, straight ahead. we'll be right back here. "cavuto: coast to coast". having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. (siren blaring) police officer: excuse me, sir. sit tight.

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connell: fox business invested in you. we want to hear from you. we'll hold a live show, fox business, 22nd of january. charles is hosting it. all the other all-stars, neil, liz, stuart, on and on will be appearing. there it is. sign up at foxbusiness.com. you want to join us live in the audience in new york city. meanwhile same new year, same old gridlock. stocks are rising despite no

signs anything getting done in washington. rose club founder mike murphy what it means for the new year. merry christmas. >> merry christmas. connell: gerri said, few years ago, striking on christmas eve to speak about the markets, quite a difference from last year. this is a heck of a rally. >> last year was a bottom going into a big selloff into the end of the year. there is some volatility in 2019. overall it's a straight march up for the markets. i think next year we can get more of the same. i think 2020 shapes up well. barring any unforeseen surprises we're looking pretty good. connell: talk about the relationship between the washington, wall street relationship. talk about nothing getting done. we say that almost in cliche way. but to be fair. some things at end of this year, have gotten done or we had signs whether it is china trade. usmca, of progress. so, does that set us up? is that help the environment for stocks or are you also rooting

for the whole gridlock is good thing as we go through the impeachment battle and everything else? >> no, i think it is positive. the positive side, connell, if you think about china trade deal fell apart or usmca fell apart i think that would be big negative for the market. we would have to rebuild all of that. that uncertainty being removed i think sets up for a lot of cash been on the sidelines, not wanting to jump in the middle of this rally, that cash has a reason or excuse to come into the market. more buyers. connell: all year long, people were reluctant to do anything, or at least said they were, because, it will, i don't know what will happen with china. i don't have visibility i need. interesting on, how that translates into how much money companies make. i mean the journal had a big story this morning where they're talking about the market going up faster than earnings are. there is not a great earnings environment. maybe we're set up to actually see better earnings next year? >> i think one thing you can take to the bank, projections for earnings next year will be wrong just like they were last

year. connell: yeah. >> rather than trying to time that, say the market is trading 25 times earnings or 15 times earnings, somewhere in the middle. if you believe the united states copy is doing well, can continue to do as well, if not better, when you take china trade deal off the table, assuming not just step one, that gets resolved. we have trade deal with our two biggest trading partners, canada and mexico. connell: that sets up for strong u.s. economy which should equate to strong u.s. stock market. connell: nothing worries you? >> a lot worries me. you can't really think about what could happen. a lot of geopolitical things. a lot of macro things. we have election in 2020 which may have some impact on all of this. other than that, if you stick to things you can control which is right now the u.s. economy and u.s. market -- connell: trying to handicap the election a little bit? steve forbes was here yesterday, thought a little bit of rally, not a lot but a little bit had something to do with the fact elizabeth warren was fading.

investors were starting to get concern ad month ago about her candidacy. now they see she won't be the nominee, that is a good thing for stocks, i don't know. >> it could be. remember in today's age, when you have so much program trading, when headlines come out a lot of programs go in the same direction. last year we got the down 10%. this year we've seen a big push up. so, expect some volatility for 2020, but overall, for what we know and for what we control, can control, we're in pretty good place. connell: right. are you spending christmas in new york this year? >> spending christmas eve in new york. tomorrow we head out of town. connell: a little bit of traveling. i don't know where santa, if he visits the murphy household in new york. six kids, right? >> six kids, almost all on the nice list. connell: four out of six? >> we got six out of six. the parent we're worried about. connell: turkmenistan where santa claus is now. >> shut put him here 11 hours, 22 minutes. connell: he knows everything this guy.

merry christmas. happy new year. as we continue, 2.1 billion gifts delivered, santa claus. christmas dinner, forget the fact about no politics, everybody is screaming and yelling about each other. how about no potatoes? it's a health warning. if neil finds out we're doing health warnings, he will be livid. that is coming up next. ♪. ♪ ♪ ♪ everything your trip needs for everyone you love.

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and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪. connell: ultimate christmas story now in many ways. thousands of people flocking to bethlehem and its manger square for christmas celebrations there.

fox's trey yingst who covers the middle east, made his way to bethlehem. he joins us live the with the story. hey, trey. reporter: connell, good afternoon. this is really a major celebration for people all around the world. as you can imagine, celebrating christmas eve in bethlehem is mixture of religious traditions and people here to see the lights and spread holiday cheer. earlier today a parade and procession, latin patriarch come from jerusalem to bethlehem to participate in some of ceremonies. there is a big tree, a lot of lights. earlier this week, fox news was given access to asee a new relic, that was a piece of the crib jesus supposedly laid in. take a look. the bethlehem celebrating a new holiday, a rival of the piece of

crib that jesus laid in. >> over 4,000 years since the piece from original crib comes back to bethlehem. reporter: days leading up to christmas thousands gather at the church of the nativity in bethlehem to celebrate the birth of jesus and offer prayers of peace for the region. the small piece of wood is symbolic for christians across the globe. they believe it provides evidence that jesus was born in bethlehem. there was political controversy around the holiday season in the middle east. disagreements between the israelis and palestinians in gaza. more than 1000 palestinian christians inside of the gaza strip many wanted to come to bethlehem. people tell waiting to see the political portion of that plan. so tensions as always do remain high. connell. connell: never go completely without politics especially in that part of the world, thank you, trey yingst live from

legitimate la hem for us. -- bethlehem for us. >> as we get ready to sit down for christmas dinner average could be 2700 to 300 calories. we bring in registered dietician and nutrition it, mia sim, to talk about a healthier holiday. good to see you. >> good to see you. connell: only have a couple minutes here. get to the recipes that you have. have everyone have a healthier holiday. go ahead. >> absolutely. we were talk about dessert recipes. you can add beans. you can cut back on the fat used in the dessert while still retaining moisture. these beans i have trick ad lot of my guests. they can't even tell i added beans to the recipe. they seem nice and moist this is a great dessert that you can make today. i will be making those. we have cauliflower mashed potatoes.

we use half potatoes, half cauliflower. cali flower lowers the carbohydrates and adds vitamins and minerals. this is lightened alternative. that is great dish you can make as well. connell: sorry. give us one more. ask you a quick question. go ahead. >> yes, we have sparkling pomegranate cocktail, made with sparkling wine, a lower calorie option and a splash of pomegranate juice. make sure it has no added sugar. a great cocktail. connell: i going to say, people are it wering that down, getting ideas to impress everybody at the pare tomorrow, i was saying real quick, obviously everybody, nutrition its will say, come on be be healthy. one or two days christmas season. more what you do the rest of the year i would think, i would hope? >> absolutely. absolutely. everyone should enjoy the holidays. enjoy food coming along with the holidays. what i say, eat what you love.

just because it is holiday season you have to have a glass of eggnog, if it is not your favorite. if your mom makes cookies. connell: merry christmas. sorry to step on you. i have to go. we have closing bell at different time. it is coming up next. cavuto close to coast on christmas eve. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. ..

>> the closing bell is ringing on wall street's on christmas eve, no christmas eve record, string of records on the dow jones industrial average will not be there today. the s&p 500 looks like we will see how it settles but the nasdaq is something else and continues to march higher if only by 7 points. the market goes up with the nasdaq.

i am mcconnell mcshane, jerry willis is covering the markets. hello again. >> remember when everybody leaves? it is about to be a stand paid when everybody leaves at 1:00. nasdaq, the only index higher by 7 points, the nasdaq matching its ninth record close. the dow, the s&p down, can't really argue with this. the markets have been on fire this year. thank goodness it is not last year. the dow fell 650 points. the bottom of the market for the year, people were in a different mood last year.

and 28.5, the nasdaq up 34.8. we are going to retire some time. it has been good for bond market, the barclays aggregate bond index total return 8.5%. it is unusual to have everything on fire but everything has been on fire. only four days left, fingers crossed, and they are very optimistic the last couple weeks, this year was going to finish out. they said the rally in these stocks is so broad because it is not end of the year movement going on, hard to find the thing you missed. ashley: you had a nice christmas iran like last year, the dow 30, the dow up again, thank you so much. let's highlight the nasdaq. nine records in a row is something else when you think

about it. we haven't had a streak when the market spent a record day after day to 9 sessions of it. we haven't had a streak when the market spent a record day after day to 9 sessions in a row since july 1998 when the tech bubble blows itself up. the markets have done well across the board, the dow, s&p or nasdaq and at the end of the year might have to do with optimism over trade. donald trump was touting the progress he is making on trade deals. here is what he said earlier today. >> we made a very big deal with china, with mexico, canada, north korea, japan, plenty of others coming. a tremendous boost over the coming years. over the coming year and when they are fully kicked in, tremendous amount of money.

connell: we have a panel in the studio, jackie is with me with new york post editorial board member and wall street journal associate editor. we wrap it up on a short session as we did but the end of the year something else to watch it. we had a debate or discussion last hour about what is driving this. is it just the federal reserve. >> it is both and that was the issue last year. this year the fed is not a problem, and we have two new trade deals that are supposed to add to gdp, the market is looking like it is going to continue this momentum barring and for seen event. connell: the only complaint i'm hearing is things are too good, people looking over their shoulder saying is this really as it seems.

>> the consumer is still in play, the economy is not rising like donald trump hoped for, global growth is a slowdown. at the beginning of the year we were in the tank, the markets stopped significant we, that's why you have a huge percentage. connell: this time last year, a year ago, a disaster. >> you haven't accommodated fed, uncertainty taking off, this is not a big trade deal with china but it is a piece with china for the moment. we have us mca passing, brexit, wherever you think that will go resolved politically for the moment in britain so a lot of uncertainty is taken off the table and use evaluations reflect that. >> and cindy taken off the table of a huge thing wall street is happy about but i think main street is also happy so supersaturday we saw the biggest retail day in us history.

connell: we did according to the estimate in dollar terms. >> $34 billion. connell: the most money anyone ever spent on that day, more than black friday. >> look at how consumers are feeling, recent poll found 76% feeling good or very good about the economy, 67. and consumer spending. and they are feeling, - >> everyone is talking about impeachment in washington and new york, a lot of us in the news business are focused on. the average person is not. they have more money in the pocket thanks to tax reform. economy looking good. they are not interested in impeachment if they understand what is going on with the house and senate. >> retail numbers have been strong in terms of consumer. you and i were talking about

the forecast for travel as well, people are willing to spend on travel and visit family, to get out and spend money and poured into the economy. connell: hong kong has flared up today, these two things together, how do you view the politics in terms of how the strong economy, the record stock market works its way into 2020. the president is a favorite for reelection? >> the economy is doing fine. that is what most people i thinking about. i'm always surprised by the glass half-empty reading on a little more than 50% of people own stocks. i view it differently. 50% of people own stocks which is a notable number particularly with markets going up, makes people feel better. impeachment does way on the public mind. in the 2018 midterm elections,

a shift toward democratic candidates by suburban republican women particularly. i don't think the economy is the be all end all but it is a positive tailwind. connell: the issue for him. he has been above water on that. and in 6-month, really began in june on christmas eve. in subway stations, violent clashes between the protesters and the police, what will happen tomorrow, but how is all this going to wrap itself up? it has accomplished their early goals when it is continued and the police continue to push back. >> and the hong kong issue, it

is a holiday. they are afraid with the phase on china deal going on, they may be forgotten in some way and this is a conversation you can see the violence that will continue, still very potent in their hearts. it has to be watched. connell: the picture at the end of the year, the picture may never go back, may never go back to what it was which was the central hub of economic activity, free markets. >> in some ways the people of hong kong don't want to go back to the status quo. they push back the extradition bill that sparked, it has turned into a bigger movement and not just a single bill. they are tired of having beijing, on their political life. >> i lived there for 7 years

and the presumption was the hong kong people displaced from inland china displays economic activity. that is wrong. people want political freedom and this is a challenge for xi jinping, this is a see that doesn't just want to be one country, two systems. they want absolute certainty that they will have political freedom and -- connell: it has gone on for half of the year. talk about other topics including the possibility of an impeachment round 2 which has come up in washington especially on the house side. there is consideration of an additional article of impeachment. in the meantime we are wondering if one party been passed ever make their way to the senate. we will be right back. you don't use this old thing, do you?

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>> so now they get to the senate and we have the majority and it is up to mitch mcconnell and we have the majority and they want mcconnell to do wonderful things to them. he is going to do what he wants to do. very smart guy, very good guy and a very fair guy. but they treated us very unfairly and now they want fairness in the senate. they want to look back at the last year to see how they hurt this country. connell: donald trump in florida, those comments from earlier today as he went after the democrats as the house judiciary committee lawyers have been floating the possibility that there might be additional articles of impeachment issued against the president. we are back with our panel. jackie, kelly jane, and john on whether this makes sense. the kind of thing we know there are two articles of impeachment

that haven't even been passed to the senate. if you start going down this road in the hypothetical world if it were warranted from a political point of view it might backfire. >> the investigative process didn't stop with the approval of articles of impeachment and whether they get past the senate. the investigation, 10 obstruction of justice incidents the president participated in. >> didn't make a judgment. >> he said he wasn't allowed to. the judiciary committee looks into the mcgann testimony. whether that is germane given what the senate is saying it is going to do which is exonerate them, exonerate the president and mcconnell saying i am not an impartial jury and consulted with the white house. i'm not sure it would make the difference. ashley: you are not sure it would matter at all. the question is whether it makes the process drag on longer and you may be right,

none of this may matter in the long run in terms of politics. we are talking something different by next year. impeachment may be a distant memory but if it drags on longer who does it hurt, who does it benefit? >> it hurts democrats the longer it goes. i'm hearing from people, nonpolitical people all around the country saying seems like a waste of time and money. it seems adam schiff opens, house intelligence committee open hearings, if this is an impeachable behavior what is? he seemed very sure and democrats seemed very sure. why haven't they sent them to the senate and why now are they looking at don mcgann's testimony, did they want to know if trump is reported asked him to fire robert mueller. that report came out months ago. they had robert mueller in a hearing, very strange after they pass two articles but they

say are airtight. ashley: connell: the white house counsel at the time, we have a lot of discussion about that at the time but there was no move forward on impeachment but what do you think? >> it was rush rush rush, try to get the articles done and now they are thinking about adding how many bytes of the apple you get, this is a serious issue, the american people would stand back and say you should have taken your time, done this in a faraway, not to drag it out but to be sure you and everything on the table you wanted to present. connell: the biggest story is when the story broke about the train, people's opinions of that story were what they are now, fox pulled it then, half the country which i said a couple times if you are a president and have a country wants you impeached and thrown out of office that's not a good position to be in but after all the hearings and testimony half

the country wants the president be thrown out of office, hasn't moved at all. >> the democrats wanted mulvaney and mike pompeo and bolton to testify since they were in the center of this and might take too long. the president said i don't want them to testify, now you're going to be in a more favorable venue, the senate, they are more people, your republicans. want to have him testify. at least we will find out what happened in those conversations and the president -- i spoke with mick mulvaney. and they will come out in at sworn testimony. and talking about process. they could exonerate the president to replicate the president? >> republicans get to call

their witnesses, thank you to all 3 of you for the time. we have to talk about the other big stories of the day including the christmas gift that could cause a rift, from kim jung un, the president has some comments on it. north korea when we come back.

connell: is it a gift or a bluff, us on high alert after north korea's thread about the chinese calling on the us to take immediate action with north korea. to put that together on christmas eve, we have the details. >> reporter: donald trump has been commenting on a threatened christmas gift, north korea saying it could deliver to the united states.

listen to what the president had to say. >> we will find out what the surprise is and deal with it successfully. see what happens. everybody have got surprises but we will see what happens. i handle them as they come along. >> reporter: the foreign ministry has said, quote, it was entirely up to the us with christmas gift it will select to get after a year of stalls denuclearization talks despite two meetings from donald trump and sondland. more signs of trouble today, more satellite imagery released about the plant associated with long-range missiles capable of hitting the united states from north korea. in this case about vehicles, the need to transport a launchpad for these icbms. we see the vehicles imported from china. north korea is making them themselves and that is a dangerous sign.

this gift might not be in the way of a weapon in the next week. it might be in the way of a pronouncement. either that or denuclearization talks are finished or a moratorium on nuclear and missile testing could be finished. chairman kim could give that pronouncement in a week or so were there could be more trouble next year. connell: thank you. in a moment, last-minute shoppers beware, the grinch may be lurking for your package. we will be back. (classical music playing throughout)

connell: kanye west celebrate christmas in new york city. $300 a ticket, you could see kanye or something, we bring in our panel, similar panel to talk about that, nothing to do with those numbers. jackie joins us and from fox news, brett larson. bret is unprepared to talk about this subject. i don't understand kanye west. his music is garbage but maybe he's not as unprepared as we think.

>> people were walking in at 9:15. they started late. kanye was reading the narration and was totally unprepared, stumbling on words, stop that trumpet, his kids were in the front row causing a commotion. it was expensive and that is the first time they smelled marijuana. >> i smell marijuana. >> i look forward to that. >> $1000 plus and could have been more well rehearsed. it is an interesting concept. i'm not opposed to kanye's opera. definitely will see kanye and july steen.

>> i don't get his appeal. i don't think his music is any good, that is just my opinion and apparently there was the smell of marijuana. maybe that is why he was running late. i will give him this. he is a self-proclaimed genius, he got people to pay $300 to see him at lincoln center and that is something he has been good at. that is his own fire festival. business insider has ranked the rudest cities in the united states and like minneapolis. new york city, we are the worst. chicago, boston. >> we may be the worst but working near the christmas tree, i run into a lot of tourists, trying to get around. the tourists are not so nice themselves.

the holiday cheer should be out there. ashley: they do things like stop and look up. but you don't live in new york full-time. >> i live between florida and new york by the stock exchange. a lot of tourists. really nice in new york, my pet peeve was an umbrella, hold it horizontally and stabbing you and getting impaled as we walk. plenty of rude people too. connell: it is a bad rap. you expect, and - >> millions of us here and we have somewhere to go and umbrellas, people and their smart phones. i get it if you want to take a picture of rockefeller center christmas tree but don't do it from the middle of the crosswalk when the light changes. ashley: connell: i shouldn't admit to doing this because it is rude

but for lapse, it is not a big deal. when people have film in our cameras it might have been a bigger deal. i do this all the time. if i on sixth avenue i look for people taking pictures and try to time it because they try to take up the whole sidewalk. i will try to time it to walk right in front of the picture. i do it all the time. >> we are in a hurry and if you are a tourists just get out of the way. >> a little ruder than most. >> you want to talk about porch pirates? another disturbing story. the porch pirates, a lot of stories on these porch pirates getting caught in the act, 60 million americans have had a package stolen from the front porch or wherever he is sitting and the police are trying to catch them in the act and you can see they have been

successful. the retail expert of the book making a deal about this. >> porch pirating is becoming more known because of cameras and everything else. it is a needle in the haystack. and when it happens to you you feel it is a big deal. let's cut to the chase and use technology. connell: it is not affecting companies. >> we live in a society we know we are being films, everything we do. connell: cameras all around me right now. >> some choose to have cameras in their homes with alexa and whatnot but people need to wake up to the fact that you can't do much anymore in terms of getting in trouble. connell: it is getting to everyone in the control room to

track santa. i don't know what is going on. the norad santa tracker has been down. >> this is one of my favorite parts about this time of year. google has one as well. connell: when i saw santa he was in dubai and i haven't seen him. thank you. are we done with you guys? merry christmas. 2020 could be the year of gaming. apple is getting into the game. these are the best pieces you can do. we will be right back.

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connell: apple is set to jump

into the game of gaming console, eyeing up a release early next year. sony and microsoft are expected to release new consoles of their own. chief investment officer ben phillips on this battle to watch in 2020. what would you expect from apple in this particular space where like some other spaces they don't have much experience? >> that is the case if you look at x box, playstation 5 is coming out already for next year's holiday season, apple competing with those two, the dominant leaders, known for cues products and made more for the mass market but any hard-core gamer will not take apple seriously. >> they work through apple tv, some games, you can download games from the apps store but

if you are a real gamer those don't compare. >> the only thing that compares with x box is pc gaming rig with apple is known for pc gaming, no real -- and mac form. >> no gamer would you say mac. do you want to say something? brett larson is here. >> i do play games but i do seem cloud games. >> i'm sorry i asked. >> it is funny because people do often say nobody gains on the mac but there is boot camp and the platform does have the power to game against certain pcs. >> sorry about that. it is interesting because apple's transition, this is

part of the new apple and the strongest of strong businesses in their core business but what is your perception of the way they have been able to add to that core business? maybe this is not the best way to do it. >> people are adding other high-margin businesses and gaming is a good high-margin, they are developing their own internal capabilities and putting it through the service package. the non-hard-core gamers which is most people, looking for fun things. that is why they keep winning. you are right. ashley: the numbers, so many people like that. might not satisfy the most hard-core of the gaming community.

thanks for coming on. have a merry christmas. ben phillips. let's talk about the markets. we closed on the shortened session hovering around the record. the nasdaq continues to be the story with nine consecutive record closes, the most since 1998. the ceo, your face popped up. what do you make of this run at the end of the year, the complete opposite of what we were talking about when the market was in so much trouble but in particular with tech stocks. >> merry christmas. it has been an incredible run, one year ago today in the midst of a bear market. the nasdaq setting the record that it has, continuing to the tech sector, to lead the market. the last 25 years according to the data when the nasdaq goes

up by 30% or more it happened six times the following year, the s&p 500 -- if you want to follow a trend it could mean good news for tech stocks next year. connell: i was wondering about the setup we were in. it depends what time in history you pick apart, the longest stretch of record since 1998 and as has been pointed out we didn't know about the trouble that was brewing in the bubble that was blowing up and burst. at the same time last year when we were selling off in the markets we were setting ourselves up in a bounce back and that is what we saw last year. you make the point these things could continue for a while. what is the best argument in that camp? why will this market continue to go up? >> the trade deal we have set

with china and a resumption of global growth as europe and china starting to recover the second largest economy in the world, depending on china for their exports, both potentially improving we might have a narrative of global growth again but the biggest story this year is we have had incredible returns, the amount of money pulled out of equity funds, over $1 trillion and a lot of equity funds, i have seen $135 billion pulled out of us stock fund, all of that has been put into bond funds, the first week of december, $482 billion into money market funds, those are incredible and we have not had that experience in terms of investors, hopefully it is because of the many advisers we have but it is

incredible that investors have missed out on incredible returns. >> the stories what is going to happen with china? we don't know about trade. we don't know 100%. this is a is one deal that is in place but is it enough to drive money into stocks? >> i often -- this morning i spoke to the ceo of the minnesota company and he says he has seen signs of improvement, the us mca and the trade deal with china, that is the key, if we get global growth, it resumes with trade and all the concerns about trade is over and there are further trade deals to be made and with the fed being on hold that is something as well. >> happy new year.

thanks for coming on today. finally we have good news to report. the santa tracker is back. this happened moments ago. he is in the pacific somewhere but thankfully is okay and moving at a speed that is second to none. santa is approaching 2.5 billion gifts delivered just tonight. unless he started early which i doubt he did. the tracker was down. santa was fine. to the mall, the mall santas, grady is looking at last minute shopping. we will head to the mall and keep an ion santa. we will be right back. if your gums bleed when you brush, you may have gingivitis. and the clock could be ticking towards bad breath, receding gums, and possibly... tooth loss. help turn back the clock on gingivitis with parodontax. leave bleeding gums behind. parodontax.

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ashley: more than coast-to-coast, we are off the coast with santa. he is in the middle of the indian ocean where it is snowing and he has almost reached the 2 billion gift delivered mark. we are a problem with the tracker. storms stay open. last-minute shopper grady trimble is one of them so is that lady randomly waving at us. grady at a mall in chicago. >> i got my christmas shopping done a month ago but we have become a procrastination nation. a lot of last-minute shoppers today as you can see behind me and it has been busy at this small and across the country people are waiting until supersaturday which is the busiest retail day of the year even busier than black friday

or cybermonday. alex waited until the last minute for his last-minute gift so i don't want to ruin any surprises but what are you here for? >> just jewelry. >> pretty simple and straightforward but i got my christmas shopping done a long time ago. does it make you nervous? >> know, nothing better than waiting to the last minute, get the adrenaline rush. >> people frantically trying to find something. anything you found at the last minute that was a surprise that you couldn't have gotten online? >> everything i knew i had to get. >> reporter: i did a lot of shopping online this year but too late to get stuff online now. got to get it in store. i want to add a little bit of something. the national retail federation

says 1% of holiday shoppers will wait until christmas day to get their gifts which is unbelievable when you look at what is open on christmas day. not even walmart is open. you might get a gift from cvs or starbucks. ashley: better give those back. i guess you don't live around your family and are looking for deals, why speculate about this, good stuff today, you and alec, men of a few words. americans expected to spend billions of dollars on christmas and our distinguished panel is back with us. we are going to test their knowledge on a variety of subjects and all your answer cards in front of you. here are the questions. question number one, cavuto

trivia. i haven't even looked at the question. what is the average cost of christmas for consumers? answer would be $410. $668, what is the average cost of christmas for consumers? really holding up a little higher. and sir as, dead wrong. let's go to aaron who weighs in with d, $716 and the correct answer is brett larson. answer c. >> the $400 range is what each consumer spends on black friday and i was at the mall like grady. i'm just giving a little bit for my rocket.

>> the actual right in could be completely wrong. are you ready for question number 2? we will fly through these. question 2. how much will consumers spend on gifts, on gifts? it is either 250, $380, $475 or $520. hold up your answers and we will go in reverse, jackie goes with d, aaron is going with be which would be 380 and brett agrees. $300. seems about right. i glean information from that. >> you've got the first two right.

>> jackie, a big goose egg but we have a lot going for you. how much will consumers spend on travel this christmas? is an $86? $96? and hold up your answer to be fair. jackie is at sea which is 106, aaron, 106 and you got it again. you thought judging on your answer you didn't think about it at all because you drive around, maybe you are flying somewhere. >> it will be 116.

>> people thinking they could be pricey. >> 275. >> most people don't travel far. it is all rude new yorkers and you know what? we could end the game now. bret lose. aaron has won jackie at 0 and 3 so this is just a bonus question and you could go for for for. we are standing, madagascar. how much will consumers spend on declarations? $50? $100? $200? all round numbers and those -- jackie goes b which is $100. you guys are not going to do this. if ralph gave you these answers

and that is unbelievable. and absolutely nothing to do this again on christmas day. santa claus made his way over madagascar, he is 8 minutes away from madagascar. he moves so quickly on christmas day wherever he is that he barely stops which is hard to understand if you are a little kid, to a half billion, it could be new technology. you have big christmas plans i hope. >> huge, eating, family. ashley: that was a nice close-up, good job on that, appreciate it. good to have you all in the game.

live coverage of markets as the great jeff flock has a special coming up. catch me and melissa after the bell on weekdays and thanks for watching us on cavuto coast-to-coast. i am, mcshane for all of us at foxbusiness. have a great christmas. (chime) (shaq) magenta? i hate cartridges! not magenta! not magenta. i'm not going back to the store. magenta! cartridges are so... (buzzer) (vo) the epson ecotank. no more cartridges.

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>> fast cars, new cars, old car cars. cars more famous than the celebrities that come to see them. this is, right. what is the the concours don'telegance. the comfort level may be a little different