♪ ashley: good morning as you look at fox square in midtown manhattan, december 29th. it's not that shelley. it is mild. we've had a little rain. forecast for new year's eve around the corner in times square high 30s, nothing to get too worried about. it is 10:00 eastern. straight to your money on the last trading day of the year. what we've seen is modestly higher, the same theme all week, the dow, s&p and nasdaq all essentially just a little bit higher, less than 10%, flat is what we like to call it, the 10 year treasury yield has been below 4% for quite some time.

in late october the search past 5%, bad news for equities especially those big high-growth stocks in the tech sector but now, the euro at 3. 87%. look at the price of oil. oil also has been somewhat subdued. it is up $0.56 but still $72.29 for a barrel of crude. bitcoin, at one point was about $43,000 this week, right now it is up another $500 today, bitcoin right around $43,000. let's get back to this. secretary of state barring donald trump from their 2024 primary ballot. watch this. >> the events of january 6, 2021, unprecedented and tragic, under section 3 of the 14th amendment, mister trump engaged in insurrection and therefore disqualified.

ashley: trump's campaign calling main's decision atrocious saying make no mistake, these partisan election interference efforts are a hostile assault on american democracy. biden and the democrats simply do not trust the american voter in a free and fair election. jason riley, does this help or hurt the trump campaign. up to now negative headlines for donald trump frank whitley have helped him. >> i think it could very well help him. we have something called due process in this country and trump has not even been charged with insurrection let alone convicted of it and i agree with the trump spokesman, this is a case of democrats not trusting the democratic process. democracy is in the way. they don't trust the voters to choose who their nominee is going to be.

the arrogance whether it is colorado or maine where you have officials saying we will tell republican voters to the nominee will be. they will not make that determination. and backlash to these efforts. neil: ultimately this goes to the supreme court, they will knock it straight back down. really just trying to make the point that it could backfire. >> we seen a pattern since trump came on the political scene which is democrats criticizing him for breaking norms yet when they go after him they too break norms. trump's political fate should be decided by voters. they don't trust the voters. this is an effort to put the thumb on the scale. ashley: very transparent, next one, this is getting traction,

nikki haley claiming she has been set up by a democrat plant after she was criticized for her answer about the civil war. >> did you know last night when you were being asked by this one individual, you are saying a democrat plant or did you think it was a typical new hampshire voter? >> it was definitely a democrat plant, that is why i said what did it mean? we see these guys when they come in. we know when they asked the question. ashley: trump's amag aipac blasting her response, she's clearly not ready for prime time. ron desantis's campaign fired back with one word, yikes. it seems attacks against haley are ramping up. is it because she's gaining momentum?

>> that's true that she's gaining momentum that will bring on attacks but i think this was an unforced error on her part. two things, the question was a plant and she badly flubbed the answer. i'm shocked. this is the former governor of south carolina where she dealt with the confederate flag issue, i would think she would be prepared for questions like this answer, that's not an accident, that's not an omission, you are being coy and she got called on it. the declaration of secession of south carolina written in 1860 explicitly cites slavery. northern opposition to its expanding flavor, you don't need to take my word for a nikki haley's word for it, you can take what's out carolinians were saying at the time. she should have been ready for this question.

ashley: she clearly wasn't but thank you so much for your input today, we do appreciate it. talking of nikki haley, she got some heat from a 9-year-old, the child called haley the new john kerry durning her town hall in new hampshire yesterday. watch this. >> i wanted to ask you, chris christie thinks you are a flip-flop around the donald trump issue. honestly i agree with him. you are basically the new john kerry if your member john kerry. so my question is how can you change your opinion like that in just 8 years, and will you pardon donald trump? >> the first thing i will tell you is politics is about distraction, right? and so people like my friends

chris christie are going to say she is a flip-flop or, basically saying that i am not hitting trump hard enough. i think he was the right president at the right time. so i think he's right president going forward? know. i'm who i am. i tell my truth like you told your truth. except i am no john kerry. but i will also answer his question. he asked if i would pardon trump and i have answered this before. i would pardon trump. ashley: that was a hard room, those 9-year-olds getting to the heart of it. haley added both anti-trumpers and pro trumpers criticized her approach to the former president. massachusetts is trying to shrink the wealth gap with a new trust fund for the state's

porous newborns, they would be a publicly funded trust fund program residents receive at birth and gain access when they turn 18. then the person could use it for college, buying a home or starting a business. the amount given to each eligible newborn would depend on their household income but the program is expected to cost the state roughly $52 million a a year with estimated 8000 qualifying each year. let's get back to the markets. it is all very muted as we finished the last trading day of the year but the trading we've seen, slightly more buying than selling, the dow, s&p and nasdaq a little bit. let's bring in kyle wall if we can. kyle. great to have you this morning. do you see this momentum that we've picked up at the end of the year continuing into 2024? >> i do. if you looked at 365 days ago, 2,023 was going to be a tough

year, if you look at 2,023 from october on it has been pretty strong. the s&p up 25%, nasdaq up 44%, and enough -- magnificent 7 up 75%. with rates coming down, below 4% i don't see a pattern here, having a difficult time performing in 2024 with rates coming down and a lot of other head wents subsiding right now. ashley: we were talking the threat of a hard landing in the the fed will pay the piper because the fed will create a crater in the economy, now it seems people are talking about a soft landing. would you agree? >> i agree, the leaders continue to lead, you mentioned earlier nvidia up three times, 250%. there are other needs in the ai space that benefit the

tailwinds of nvidia and that would be your supermicrocomputer and if you look at supermicrocomputer's trading at 35 times with nvidia 65 times pe, i think when we look at other sectors, cybersecurity, president of a publicly traded company, one of the biggest concerns is cybersecurity. we have to buy insurance, the most expensive thing, i see going towards cybersecurity and i continue to see more insurance from our clients who are public companies, two companies that might benefit most are palo alto networks and the scaler. ashley: interesting. we had palo alto picked out early as this week. a lot of love for that stock. we are out of time but thank you so much for taking part of your day to share your thoughts with us. we appreciate it.

a look at coin base. kathy would's arc innovation having its best quarterly performance since the second 1:45,020, coin base rising at 11.5%, down one. 5%. %. let's look at the streamers. netflix had a fantastic year growing at 66% far outpacing rivals, subscriber growth and cracking down on the password sharing while other rivals like warner bros. disney, comcast and paramount lost $5 billion on streaming. among the streamers only disney is showing a slight game. ed markey and richard blumenthal are demanding elon musk via your reuters reported the company knowingly deployed defective parts to customers for years.

the senators say, quote, we call on you to withdraw all components that pose a safety risk and it can properly do its job. the investigation also found tesla often blamed customers for damage caused by defective bartender tended to mislead federal safety regulators with incomplete data. harsh accusations of $253. coming up, space x launching a secret military spacecraft from kennedy space center. we have details on the mystery mission launch and russia's foreign minister says western nations are changing their strategy for the war in ukraine. he claims there's been whispers about peace talks being held without ukraine. former pentagon official brent said that will deal with that next.

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ashley: the markets continues are all on, santa claus rally has been somewhat muted but still goes on, the nasdaq just turning a little negative by here, the dow, the s&p also essentially flat, very muted session. russian foreign minister sergei lavrov claiming western countries are quietly changing you strategy regarding the worn ukraine, they are looking for some way out of the war but in a way that makes it possible for ukraine to declare victory. former pentagon official brent sadler joins us to talk about it. do you think this is really happening, what do you make of it?

>> it's typical lavrov. he's non-wrong and there's another strategic message, to embarrass or undermine us interests at the same time but very clearly the biden administration and other western governments have been looking for some time how to offramp the worn ukraine because it is becoming inconvenient despite the fact that russia still retains a large amount of territory, occupied territory in ukraine and if the war was to end today it is not clear it would be in us long-term best interests but it is becoming costly and there is no clear policy change coming out of washington to get to a end. ashley: do you think if we look at where the situation is now, what russia say okay, cease-fire, we will keep what we've got, so to speak, to your point, would ukraine and the west ever allow that to happen? >> i don't think nestlé --

ukraine would want that to happen unless there was enough of a sweetener of a deal from the west but quite frankly as long as there's occupied territory, the things that are most important to ukraine's long-term viability as an independent country, they need to join nato. as long as there's a potential conflict, that's very unlikely to occur unless there's a new diplomatic mechanism or security agreement on the table i don't see anything that provides a viable offramp from any side. ashley: it just grinds on. north korea's kim jong-un calling on his military to isolate war preparations, unprecedented confrontation moves from the united states. how concerned should we be or is it more nonsense?

>> probably a little bit of both and not unexpected out of pyongyang at this time of year either. it is again like the russians the north koreans can cause a lot of death and destruction very quickly. as soon as you take your eye off of them bad things can happen. as a reminder, 2010 the north koreans under the current leader, when being prepared to take over leadership sank a south korean patrol vessel killing many of the sailors on board. very dangerous, very real threat, ones that we cannot allow ourselves to be distracted another part of the world away from. ashley: taiwan has its elections coming up, do you expect china to put pressure on this issue, do they become even more aggressive? >> the short answer is yes to all of the above. just today, 22 aircraft across the median line in taiwan airspace so the pressure

campaign that is a year plus the chinese commerce party has been running ongoing, no indication of it relenting and probably will pick up from the election day, the bill of january until inauguration, the tale end of may, very dangerous next six months. ashley: we have to leave it there. terrific stuff as always and we did cover a lot of ground, thank you very much. we have an update on the chinese spy balloon that was shot down over the us earlier this year, us intelligence officials have determined that it was used, using an american internet service provider to communicate lose the balloon used an american based company to send and receive communications from china and collect data over short periods of time. a spokesperson for the chinese embassy in washington responded to those findings, he said, quote, as we've made it clear before, the airship used for meteorological research unintentionally drifted into the us because of the

westerlies and its limited self steering capability. they still deny the spiraling, space x's falcon heavy rocket blasting into orbit from kennedy space center last night carrying a secret of spacecraft owned by the us military. that's all we know. dana marie mcnichol is in miami. tell me more about the launch please. >> i can tell you it is a military crude space plane x 37 the. sevenb. a lot of space enthusiasts calling it a miss read. information is not being released about where it's going in space, how long will be in orbit but yesterday it successfully launched on its third attempt on the falcon heavy, space x's most powerful rocket which means it is going deeper into space and staying longer than it has on any previous mystery mission. >> 3, 2, one, engines for power

and lift off. >> reporter: this is the seventh flight made by the us space force's expire mental orbital test vehicle known as x 307b. officials say this mission will help the us military carryout cutting-edge research. the nasa experiment on board will expose plant speeds to the harsh radiation in mind of a long spacelike, learning to grow food in this environment could sustain astronauts on future deep space missions. >> this is essentially three falcon 9 rocket strapped together which means it could carry much larger payloads not only to earth orbit but to the moon and mars as well. >> this expanded view of a diagram, you can see the individual components of the rocket, side boosters, one of the parts that fell off after liftoff, returned to earth and safely touched down. the last mission lasted 900 days in space. we are waiting to see how long

this lasts. ashley: always fascinating stuff. thank you. appreciate that. interesting. still had on the show minimum wages rising 22 states. many small businesses say they will now be forced to cut shifts and layoff workers because of the higher labor costs. we have that report. mortgage rates falling for the ninth straight week. is the housing market finally turning around. josh altman will give us his real estate predictions for the new year next. ♪

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ashley: the markets today, last trading day of 2023, are flat and there's the proof, the dow, the s&p ever so slightly higher, the nasdaq slightly

lower but the markets have shown some very big returns as well. let's look at some of the movers this morning, a big boost after aborting deliveries up 300% between the third and fourth court, also reported strong demand for the ocean suv model. the company will also announce a plan to drive sales and deliveries even higher. with dollar stock it is up 19%, $0.30, $1.80 right now. lululemon, analysts at william blair raising estimates, they expect robust holiday sales from the retailers, lululemon at $513 this morning, up another $5.76. now let's look at american airlines, the airline itself down today as you can see, $13.77, down $0.27 but up 9. 9% for the year but check this

video going viral, american airlines playmaking a while landing at heathrow airport in london, it happened during a very intense storm which brought gale force winds across the united kingdom, congratulations to the pilot forgetting that huge plane onto the ground, not want to be a passenger on that. minimum wages are going to increase for employees in more than 20 states once the new year kicks off just on monday. kelly, good morning, how -- do we know exactly how the higher wages are going to impact the economy? >> illinois being one of 22 states that increase the mineral wage in the new year, all workers get a one dollar increased demand minimum wage, not tips workers will make $14 an hour. tips workers will receive $8.40, the land of lincoln will have the highest number of

mineral wage in the midwest, the 11th highest in the us. for people like russ snyder, minority owner of a bubble tea shop two hours outside chicago the wage increases more than that dollar per hour. >> that is a piece of what that increase costs because now also the percentages you pay into for worker's compensation, social security and those sorts of things increases are happening also. for a business like ours, it is a big step every time that comes, the dollar per hour that it is costing businesses much more than that. >> reporter: the boards of the hike say this will help businesses hire and retain employees in, quote, number wage increases are great way to start in your, they help workers put food on the table and keep a roof overhead and used consumer spending businesses depend on, fair wages help businesses hire and retain employs and deliver the

wrong liable customer service that leads to repeat customers instead of lost customers. in california, two pizza hut franchises will layoff drivers as a result of the state increasing fast food wages to $20 in new york city, bloomberg, grub hub drivers will be paid $18 an hour an hour. workers will see a raise in pay. businesses insist they had the bottom line. ashley: thank you very much for that. mortgage rates falling for the ninth straight week to 6.1%, the lowest level since may. million-dollar listening charge this morning, josh, great to have you onboard. will we continue to see rates come down next year and what does that mean for your industry? >> we are expecting them to come down as early as the next two or three months, finally getting a pump of adrenaline in

the market but 2023 was not that bad specializing in los angeles luxury real estate, they threw everything out of this year. obviously the you la measure, the mansion tax, got to pay 5% more when you sell a house for $5 million. they threw the rate status which we all dealt with, to present up to 7%. then we had our own homebuyers fleeing to places like texas and florida but with everything being thrown at us we are looking at the final numbers and it wasn't that bad of a year. expectations for 2024 are pretty strong so we are excited. ashley: that's good. the biggest problem is the higher rates and people who don't want to move because they are sitting on 2. 8 or 3% mortgage and they know

if they sell up they are going to have to face higher mortgage payments. there is lack of inventory and it is also very hard for first-time homebuyers to get in. they don't have the money saved and the requirements from the banks are pretty tight these days so do you see all that starting to loosen up next year? >> we do see it loosening up. you have a 2.5, 3% rate, a lot of realtors won't like what i'm about to say, don't sell your house, there's no reason to sell your house at that point but if you are looking to get into the market it is a lot tougher than it used to be. average buyer agent right now, 49 years old in california. i remember when i was 25 i wanted to be retired by 49. that's not happening anymore. what is really interesting, the younger buyers, the millennials are borrowing money from their parents still today just to get

that first home. it is interesting when you look at everything. i have own houses. i've been a landlord before. i've rented houses and i will put this out there right now. it is not that bad to rent. it is okay especially in california, the tenant laws are very strong, maybe it's not that bad to be a renter in a market like this. ashley: you are bullish on next year. >> i am bullish. if you look at everything we are only down 10% throughout all of la county, 13,000 houses sold in the last 90 days of 2,022 compared to this year where there are 12,000 houses under 5 million which is the majority of the world is still pretty strong. we will watch the rates dropped, see the election year. if you need to buy a house you know who to call. ashley: i feel better about it

because of you. thanks so much for joining us, we appreciate it. now this. migrant encounters at the southern border took monthly all time high and democrats say president biden is going to lose support over his handling of the border and the irs scrambling to shut down the pandemic era tax credit that was supposed to help some old businesses, it was projected the cost the government $55 billion, the current tab, 230 billion and it keeps growing. jeff flock will have that story next. ♪

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ashley: republicans in new york

state are appealing a new ruling that allows early male in voting law to take effect they have a special election to fill george santos's seat. it comes after albany county supreme court justice denied republicans request to temporarily halt the new mail-in ballot system tuesday. new york republican chairman ed cox telling the new york post the court did not consider the merits of the case. had to be forced to issue an opinion after we asked the appellate division to force an opinion. the lawsuit is expected to go through the courts over the next few months but republicans want an injunction to prevent election boards from issuing no excuse mail ballots in the meantime. that's the latest on that. now this, this will get you outraged. the irs trying to shut down a tax credit designed to help small businesses during the

pandemic but that credit has cost taxpayers $230 billion and it is still growing. jeff flock all over this story. good morning. wait till they turn off the spigots. >> reporter: congress turned on. what happens when they turn it on, it is hard to turn it off. it is a firehose at the moment. seemed like a good idea at the time but it was the midst of the pandemic as we wanted to try to keep people in their businesses and in their job so the cares act got past, $2 trillion in spending, the employee retention credit is part of that, donald trump signed that, bipartisan bill and it was a good thing, a lot of people think, at the start. if you lost 50% of your revenue they would give you a tax credit. not a lot of people took advantage of it so they expanded. so if the government shut your business down you could get it,

came out to $26,000 an employee eventually so companies began to spring up offering to help you get that refund. it was long after the pandemic simmered down. company is like innovation refunds, wonder trust, sprang up. those were two of the ones that were reputable. a lot of back to actors got involved in the program that was supposed to cost $55 billion now has cost over $200 million, there's another 120 billion in the pipeline, a total of 340 billion and along with that, other unintended consequences. take a listen. >> as the pandemic was waning, i was wanting to look at it as it was starting, to try to help businesses that were hurting but as businesses are recovering and economy is recovering it had a diverse affect, if they were harmed by

government shutdown, effectively states did keep it down longer. >> reporter: what is the irs doing? there's not a lot they can do because congress passed the act but they put a moratorium on claims. they are investigating fraud. they disallowed thousands of claims and have new guidance on what is legal. this continues. ashley: the spigot continues to flow. jeff flock, great stuff as always. a u.s. navy ship shoots down more ballistic missiles fired by iran back to these in the red sea, the treasury department is snapping around with new sanctions. also an israeli official says time is running out for lebanon to stop hezbollah from firing rockets across the board. we will speak to abraham cooper on new fears of a second front opening on the northern border.

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ashley: the treasury department sanctions target the flow of uranian money supporting houthi forces and the attacks on vessels in the red sea. grady trimble joins me, what do we know about the sanctions. how do they work? >> they came the same day as another attempted attack on container ships in the red sea, shot down a drone and anti-ship ballistic missile, the treasury department says the sanctions will hit three exchange houses and when individual to facilitate the flow of money between iran and the houthi rebels. the sanctions freeze any assets belonging to them and prevent them doing business with americans. a treasury official says today's action underscores the illicit flow of funds to houthis who continue to conduct dangerous attacks on international shipping and risk further destabilizing the region but some experts say

this won't be enough. >> the sections chip at the edges of the problem. iran has the ability as russia has bypassed sanctions and expanded its production, the irani in this funneling money to the houthis and other terrorist organizations. >> reporter: some shipping companies have started to resume operations through the suez canal and the red sea, others fear it is just not safe, the supply-chain company tells us half of all container ships that normally go through the red sea are taking the long way around africa as some european countries appear to be distancing themselves from operation prosperity guardian which the us does to protect ships in the region. ashley: thank you, appreciate that. now this.

a member of the israeli war cabinet warning lebanon that there to poetic hourglass is running out after 11 and failed to stop hezbollah from firing rockets across the border. rabbi abraham cooper joins me. thank you for being here. let me start with this question. are we entering a new phase of the war do you think? >> it looks inevitable. while we talk about lebanon, lebanon is not a free-agent. this is about iran and hezbollah which is a state with a state. everything our reporting on, sanctions, houthis, it is all connected on a practical basis for the people who live in northern israel and people in lebanon, there is already a war. 80,000 israelis are internal refugees, whole communities

have been emptied. when we talk about hezbollah, it is a real army with cutting edge military equipment that has, can, and will do enormous damage. i'm only a rabbi. i'm not a prophet. i think this does escalate. we could be looking at the irani in front very quickly. ashley: all roads lead to tehran. egypt says it is waiting for a response on a plan they put forward to end the israel/hamas war. includes three stages, ends with a cease-fire. what do you think of that and how do you see this finally coming to a end? >> we have to be grateful egypt has been directly involved. the release of the first hostages came down to midnight and it was egyptian

intervention with thomas -- hamas that made sure. i don't think we will see an early deal although different groups are now at least talking to each other or through each other but i don't think we are going to see an early new year surprise. i pray it will happen. i don't think right now is in the cards. people who are holding the israeli hostages passed two months, for them, it is the only card they are holding. israel keeps identifying hostages who have artie been killed or died, but 100 people in their and hamas knows their jewish neighbors. they know much -- it is in a sense the horrific card they will continue to play. ashley: i want to follow up on that. an investigation by the israeli

military found the shooting deaths of those three israeli hostages by israeli forces could have been prevented. the investigation found there were other signs there may have been hostages in the area days before this happened. the israeli that i found a note in hebrew that read help at the exit of a tunnel in the area. that was a day before the killing. and israeli drone observed signs with the writing sos and help. obviously in war, everything is difficult. what is your reaction to that? >> there are two points. it is a reminder that is real, the idf is a citizen army. there are no secrets. the citizens of israel demand to hear the good, bad, and ugly, that is not something that's not like any militaries. that tragedy ripped open the heart of everyone. i'm not an expert but we need

to remember hamas used hebrew recordings. they had sounds of babies crying, people crying help in hebrew, to try to get soldiers into a particular tunnel so they could be ambushed. we are dealing with two worldviews, one side is trying to play by international rules and the other side has no rules. ashley: exactly right. we have to leave it there but thank you for sharing the time with us this morning, appreciate it. hundreds of anti-israel protests, happy new year to you, hundreds of anti-israel protesters shutting down the oculus building at the world trade center chanting biden, you will see palestine will be free. dozens of police officers at the march trying to keep the peace. unclear if any arrests were made her injuries suffered due to that demonstration. still ahead, we have david

webb, leo terrell, the 11 a.m. hour of "varney and company" is next. ♪ ♪ i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage.