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analyzes the week that was and helps position you for the week ahead. i'm jackie deangelis in for maria bartiromo. the country rocked by major national security events ahead of president-elect trump's second term. the incoming commander in chief is set to host a big rally in d.c. the day before his inauguration, pushing his plans to secure the border, crack down on crime and if take a hard-line stance against terrorism. trump vowing on social media a to tackle what he called a violent erosion of safety, national security and democracy. but but as preparations for the next administration are underway, gop lawmakers are working to hold the outgoing biden administration accountable for the recent terror incidents before they leave office. here's senator tom cotton. >> the biden administration for four years has stuck its head in the sand to the threat of islamic terrorism. it's just another example of the misplaced priorities of this administration with the fbi. they've had time to chase down

every grandma in a red maga hat who attended president trump's rally at the ellipse, yet once again we have a terror attack happen, and the fbi says nothing the see here, not a terrorist vent at all. -- event at all. jackie: and senator hawley is demanding testimony from homeland security secretary mayorkas and fbi director wray in the wake of the terror attack in new orleans and the cyber truck explosion in las vegas. joining me now from the select committee on intelligence, senator mike rounds are. senator, it is great to have you on the program. thank you so much for being here. tragic incident if taking place has many wondering what is to come and how we got here. we had an open border the last four years. we've got terror cells fueling around in this country. this administration if really dropped the ball. what happens next? >> the first thing we want to do is secure the border. we know there are people coming across the border that have ill

intent. and when you've got literally 10 million individuals that have crossed that border, it means the guys in charge of the border have been chasing them down, basically working through the administrative process and releasing them into the country. that allows terrorists, other individuals, criminals if they want to get around that, they know that the guys who are supposed to be on the border are tied up with administrative duties. that's part of the problem that we've got right now. isis is a real threat. isis is still viable. they come out of the middle east, but because of the internet, they have the ability to continue to put out a lot of information that influences individuals that are going through tough times. we're seeing that here in the united states right now. our thoughts and prayers go out to those individuals who have been affected by that terrible loss in new orleans, but once again this is a case of where you can't take your eye off the ball. you've got to be focused on keeping isis at bay, eliminating them throughout the world but also protecting our borders, and

that's something that the biden administration has absolutely failed to accomplish. jackie: i'm also glad that you brought up the middle east because, certainly, that's where the threat originates. and this is an administration that that's had many foreign policy disasters. the region is more of a mess than we've seen it in decades. your thoughts on how president-elect trump will come back into office and try to secure the region and, honestly, just keep us safe. >> to the begin with, you cannot have a foreign policy that says we are weak. you must be in a position to negotiate from a position of strength. president biden failed in that category. when he left afghanistan, the rest of the world looked and said america is withdrawing, they are not the powerful force they once were. that type of an attitude by the rest of the world is not good for america. we have to stand strong. our allies have to recognize that we are for real and that we are serious, that we will protect not only our borders,

but we'll protect our way of life. jackie: yeah. >> and that is something that the biden administration has absolutely failed to do over the last four years. and it's the reason why the american people have said let's get this thing back to where it ought to be, which is peace through strength. let's make america great again. jackie: in the wake with of these violent incidents, senator, senate majority if leader john thune pushing for quick confirmation of trump's key cabinet picks with hearings starting next week. thune saying this -- >> it's so important that we get trump's nominees into place. these are key national security nominees, and when you've got people who are inspired by terrorist organizations like isis in this country to do these types of things, we've got to figure this out so that we can prevent these types of tragedy inattacks from happening in the future. jackie: trump warning before this week's events that the democrats will attempt to delay the process, posting on truth social they will try all sorts of tricks starting very soon, urging republicans to be smart and off to. senator, do you see any threats

of senate democrats looking to they the confirmations? if is it possible that there will be resistance to trump's security picks after the terror attacksome? do you think anything has changed -- attack? >> i don't think anything has changed. i think that democrats will scrutinize each of the individuals in the national security team. but that doesn't mean that we can't move if forward. i'm optimistic they will get president trump's team in place, but we'll have to work true tha. wen't even vote on them until after the president has been inaugust race9 -- inaugurated, but we can get the hearings out of the way if move quickly after that. we've got the majority in the senate. i believe that republicans will stand as a team, and we'll get the national security team put together very, very quickly. jackie: trump's border czar reacting to the recent violence incidents, urging the next administration to target threats coming from within our own country. listen. >> we need to really dig can down into insider threat in our

military, in our federal service whether it's the fbi, whether it's, you know, other agencies. i mean, insider threat analysis has been put on the back side by this administration. we can't let this go on any further. jackie: senator, ow -- you're on the armed services and veterans affairs committees, what do you make of these two incidents being carried out by men that had u.s. military experiencesome in. >> it was extremely disappointing. i was shocked when i heard both of them had been members of our armed forces. we value what these young men and women do that put themselves in harm's way to protect the rest of us. and to find that these two individuals had been, number one, either impacted by isis or, number two, felt so much despair that they had to entheir own lives in the case of -- end their own lives in the case of the individual in las vegas, in both cases it says something about what's going if on in our military and and about the message that in some cases they are receiving. look, we've got to get back to a

military force which is focused on being lethal, and that means being strong and being -- and recognizing that they are the best of the best. i think that attitude has got to be reinstilled in our military. jackie: i want to get back to broader foreign threats against our nation. senator, tim scott, the ranking member of the banking, housing and and urban affairs committee that that you sit on as well, demanding answers from treasury secretary janet yellen. how were china state-sponsored a hackers able to conduct a major cyber attack on that office that oversees economic sanctions? what, if anything, has your committee heard on this topic? >> we haven't heard a lot at this point. we will have hearings, i'm quite certain of that. part of the discussion has got to be who are we hiring to do our security work for us. are we using independent contractors hard capable? we have to -- that are capable? we have to recognize that china, who ises the source of these attacks, they are very good at

cyber attacks. they are very good at getting into networks. we've got to be better. and that means a continued focus today to e day, every day -- day-to-day, every day, recognizing that threat is out there. if you let your forward down, chai -- guard down, china will get in. and that's exactly what happened in this particular case. the good news, it does not appear they got any classified information, but they probably did get some sensitive information. that is unfortunate. but this is an early warning for us that they are out there, that they are for real and that we've got to do everything we can within congress to make sure that the resources, the tools and the focus is on keeping our information secure. jackie: absolutely. senator mike rounds, thank you so much for being here and happy new year, sir. >> thank you. jackie: new highs in 2025. why market strategist adam johnson says stocks are set to climb. that that's next. ♪

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jackie: here's a look at where the markets ended this shortened trading week, but the s&p 500 is coming off its best 2-year performance since 1998. my next guest says get ready for another year of gains. bull's eye american ingenuity portfolio manager if adam johnson joins me now. great to have you with us. tell me why this market's going to continue to rally. >> well, there are a number of reasons. we already have an economy growing 3%, we already have inflation that is coming back down to where we want it to be. 2's is the -- 2%'s the fed's target. we have the most number of people making the highest gross-adjusted income ever, spending the most ever. that's generating earnings growth for the s&p 500 that i think will accelerate to double digits. and now we have an incoming administration that is finally business-friendly. fewer regulations, lower taxes, drill, baby, drill means lower oil prices for everybody.

and what it really boils down to for me, jackie, is this is an administration if that supports american ingenuity, american resilience, american strength, american security. and i think all those reasons are going to produce new highs -- jackie: are you worried at all if the tax cuts not only just for individuals, small businesses and corporations aren't passed in the first c.r., if they're delayed, that in that's going to hamper the speed of things? >> no, i think there are other priorities. we need to secure the border. we need to be strong to the eyes to of the world which are upon us. we need to unleash drilling. we need to get rid of all the regulations that are holding american businesses back. we can get to taxes, and we will, but i think it's about priorities. taxes will come. so if it has to be two different packages, then let it be who two packages. we'll get there. jackie: okay. tech and a.i., they drove us forward last year. >> yeah. jackie: is that going to be the story in 2025 the, or do you see

anything else up and coming? >> oh, it's one of the big stories. i have right now more semiconductors in the portfolio than i've ever had because of the a.i. theme, because the compute if theme. in other words, we need to figure out how to be able to do more with more to generate more. and the way you do that is by increasing the power of computers from semiconductors to the wiring to the data storage that's behind it. so that's an incredibly powerful theme. robotics, an incredibly powerful theme. that ties into artificial intelligence. just look at what's happening with logistics. one of the companies that we own in the portfolio is converting all of walmart's 47 warehouses into robotic warehouses. jackie: yeah. >> think about that. you don't need people to to run these things. the lights can stay off, that saves electricity, but with you do need artificial intelligence that helps you figure out how to get material from a to b in a

smoother, faster manner without people doing it. jackie: so you're bullish. there are some saying market has run too far, too fast and and we might be due for a pullback or possibly a correction. >> yeah. jackie: what do you think? >> well, we've kind of already had one, right? december was a little ugly are. some of the names in my were down a -- in my portfolio were down a fair amount. inflation if peeked its head up, bond yields went up and stocks tend to go down. if you look at the s&p 500, we're down 5% in the month of december. for the nasdaq it was more than that. for small caps it was about 1 1%. so we've already had a little mini if correction. i've done some buying because i think we are going to see new highs. and over the course of last year, by the way, we actually had four corrections of anywhere from 8-11%. that's a natural part of what happens -- jackie: but you'd be buying those dips. >> oh, yeah. look what happened with nvidia. it had three corrections of more than 20 to % last year. jackie: yeah.

>> so you have to buy those dips and be willing to accept in. that's part of managing money, managing risk. jackie: meanwhile, i want to get to this, senator bernie sanders actually applauding a proposal from president-elect trump capping credit card interest rates at so -- 10%. sanders saying he hopes trump is going to support his upcoming legislation on this at a time when credit card defaults, of course, have been at their highest in 14 years. what do you make of this i alliance, capping these interest rates? things have been tough for consumers, for sure. but as you mentioned, heavy still been spending. >> yeah, people are still spending. i am someone who believes smaller government is better government, so i don't like anything that gets in the way of a free market. i don't like caps. quite frankly, i don't even like tariffs. they get in the way of the free flow of goods and services so, yeah, capping interest rates, that to me doesn't sound appropriate, it doesn't sound right, it's government getting too involved in people's business. no. if, if your debt is too high, that's your problem --

jackie: stop spending. >> stop spending. don't turn it into something that now requires a government bailout, you know? the old expression, you know, any government that's capable of giving its citizens everything they want, in this case caps on interest rates, is equally capable of taking it away. smaller government is better government. no, we should not get involved with capping interest rates. jackie: i hear you on that. great to see you, adam johnson. happy new year. >> you too, jackie. jackie: gas prices in the united states ending 2024 lower, but do drivers need to the start saving up to fill'er up this year? gas buddy's patrick dehaan with what we can expect next >> i will sign day one orders to end all biden restrictions on energy production. we're going to have so much oil and gas and other things, you won't know what to do with it. ♪ sofi is helping me get my money right to achieve my ambitions.

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jack some good news for drivers, gas prices have fallen two years in a row dropping nearly 12 the cents last year. the trend is expected do continue in 2025 as president-elect trump prepares to take office later this month. the national average price for regular gas is projected to fall to $3.22 per gallon this year. that's down 11 cents from 2024 and way below 2022's record high of more than $5 per gallon. trump is vowing to unleash american energy through deregulation in the industry and faster permitting, but critics warn his threat to impose a 25% if tariff on canada and mexico could cause prices to spike. -- to to spike. joining me now is head of petroleum analysis at gasbuddy, patrick dehaan. happy new year. a talk to me about where you see this going. i look at those tariffs as a threat right now. until they become something real, i'm not worried about them. and i'm looking at trump and his

policies and saying oil and gas prices are coming down. >> yeah. good morning, jackie, and happy new year to you as well. that that's primary ifly how i would view those as well, potentially not to be implemented, because they would have a drastic potential impact. canada is the number one source of imported crude oil into the united states sending us roughly 4 million barrels of oil every single day, is that potential tariff is a wildcard in our forecast. having said that, as you mentioned, we're expecting another year of declining prices with the yearly national average to drop about 11 cents, saving the average american household about $100. keep in mind there still will be the seasonal ups and downs. gas prices today starting the year at a low point. they will likely go with up in the spring and summer, there's no denying that. that happens because americans drive more and we make the transition to summer gasoline. but by the end of the year, the end of 2025, we'll likely see the national average back below the $3 mark. jackie: yeah. we always see that peak at july

4th, people expect it. i want to drill down on canada for a moment because if we're producing more oil here, getting more out of the ground because of deregulation and trump just being more friendly to the industry in general, the canadian 4 million barrels, that's a different grade oil? we still need that? >> yeah, absolutely, jackie. keep in mind that the u.s. oil production boom is still fairly young, 15-20 the years old sin we really started -- since we really started ramping up our own production. keep in mind refineries have been set up decades and decades ago, a statistic many americans have heard, we haven't built a new refinery in so long. existing refineries have been set up for the process that existed when they were built 50, 60, 70 years ago, and the flow of oil back in the '50s started to emerge that a canada was a large supplier of crude oil. so a lot of the pipelines that have been built and refineries were built in the era of canadian energy x. that's why it would be so difficult to

separate us from that flow of canadian oil, because that's been the status quo for decades. jackie: i am so glad you brought up the refineries. this has been has been an ongoing problem. i haven't heard the president say anything about new projects or working with companies to to try to expand refining capacity. at the same time, we're talking about the keystone xl pipeline and reviving that. i mean, the pipelines are great to get oil moving around, but you need to be able to refine it. >> yeah, exactly right. you need the infrastructure when it's to ship that oil to the a refinery or a refinery itself. the infrastructure has to be built. you talk about making a transition to evs as well. that infrastructure needs to be built. infrastructure is the key to delivering energy to the market, and so absolutely to your point, areas like arizona that have seen a population boom are suffering from a lack of pipeline capacity, and that's why prices in arizona last year and the year before were peaking well over $5 and close to $60 to a gallon -- can $6 a gallon.

that's why california prices are perennially high, because of lack of refineries. california now down to just nine refinery, and regulation and rules are going to chase away more refineries in california in the years ahead. to your point, refining capacity is a big part of the forecast. thankfully, while the u.s. has not seen an increase in refining capacity in a significant way over the last 5-10 years, the global stage has seen that. the middle east also coming to our aid in terms of refining capacity. jackie: all great points. patrick dehaan, happy new year, sir. >> thanks, jackie. to you too. jackie: i've got one important thing you needif tico know ahea nextsu week. that's trending on instagram. and i will no longer agree to the add-ons at the oil change place just because the mechanic called me "ma'am." it really is a top-of-the-line filter, ma'am. and of course, we'll downgrade our insurance -to get a lower rate. -well, you know, you don't have to make sacrifices now that you're saving money

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♪ taking care of business every day. ♪ taking care of business every way ♪ jackie: welcome back, we are about to learn new details about the health and expectations from america's biggest businesses. fourth quarter earnings results are set to kick off next week

with the big banks. we've got bank of america, wells fargo and blackrock leading the way on friday. analysts are expecting a better fourth quarter than last year's results, predicting the estimated earnings year-over-year from s&p 500 companies will be up 11.9%, and revenue growth also up 4.6%. maria had been bringing you all the a details on "mornings with maria," weekdays 6-9 a.m. and catch her this sunday morning on fox news, 10 a.m. eastern time live for "sunday morning futures." she'll be speaking this weekend with wisconsin senator ron johnson, florida congressman byron donalds and the federalist editor-in-chief, mollie hemingway. that'll do it for us here on fox business. thanks so much for joining us and have a great rest of your weekend. ♪ ♪ ♪ ♪