melissa: joining me on the phone, jack hough. dow jones is reporting vanguard customers were not able to log into their accounts. t. rowe and other investment firms suffering website outages on monday. we had a guest on earlier. struck me as the market was going way down if i was able to buy, people saying they couldn't get in. what do you think about that. >> the selling looked panicky to me. there were big gaps down. dow was dropping by 100 point increments. i would not be surprised if investors had trouble logging into their accounts. that is kind of action we saw. investors see more, faster rate of hike of interest rates. let's be honest. we've been looking for wage gains for a long time now. corporate earnings will be double-digit growth this year. we'll see fastest growth in corporate earnings since we saw in the great recession. let's keep it on the rise. keep things in perspective here. melissa: that is really true. for the past eight years, can't tell you how many times i explained on the show, someone on the street why

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we have carol roth, steve forbes and jack hough. steve, start with you, if we look at economic concerns, nicole lined up, yield curve, big move in 10-year treasurys. but also atlanta fed coming out with gpp growth estimate topping 5%, doubling consensus. pick out the wage growth number, 2.9%, almost three, that is a big number. all those things together show some inflation. that is lot what is speaking the market. what is your take on that. >> this is stupidity of economic theory that prevails at the federal reserve. that. they should leave the economy alone. as wages go up, companies find way to be more productive. brings people in the work place. prosperity does not cause inflation. government should stay out of the way but that is what the markets is worried about. you had a great jobs report. market looking to the future that the fed may gum up the works. melissa: carol, i hear that with regard to the fed but if you look at the wage growth in that number, 2.9%, that is a big jump. also commodity prices. when you talk to people m

[cheering] lauren: bring in today's panel, steve forbes, forbes media chairman, jack hough from "barron's," danielle dimartino booth, former federal reserve advisor. happy friday. steve, let you go first, that a good strategy from the president, saying i wonder if the stock market ever would go down, owning the rise, if you own the rise you have to own the fall too? >> i think he is a very happy man after what happened a couple weeks ago, looked like the market would go already down 10%. people were talking about 20, 25%. now we have this great friday. so of course he's happy. and markets are still way up from what it was from the elections. the economy is doing well. what is hanging over the economy, is the federal reserve trying to slow the economy, saying it is overheating? are we getting a trade war? i don't think we will but you have that possibility out there. so there are uncertainties out there. i think that weighs on the market. they always try to anticipate the future. lauren: yeah, we hear from jay powell head of the fed next week for the first time. we'll get a sense if the fe

bring in jack hough, baron's senior editor and allison. senor director. exuberance shows itself in the market, we saw the correction but you're not totally sure out of the woods? >> no, i'm not totally sure we're out of the woods. listen there is going to be inflation. there will be rises in interest rates. what people need to do though is look past that, take more of a long-term view. what concerns me more than sort of this short-term volatility, i run a global mergers and acquisition practice and in talking to clients you know there is an overabundance of capital in the market. melissa: great point. >> there is tremendous asset evaluation increases. we're seeing debt being provided, you know covenant light loans where people are providing and competing to provide debt to put capital to work in the markets. the last time we have seen these type of variables we saw them in the run-up to the dot-com bust in 2000 as well as the run-up to the financial crisis in 2008 and 2010. so taking a more longer term, cyclical view i do have some concerns looking out th

jack hough, thank you very much. say the foreign policy of the obama administration was a flat-out disaster and the trump administration has to deal with it now. joining me wisconsin republican, sean duffy. are you taking issue with me or agree with me, sean? >> stuart, you were spot on. barack obama's foreign policy was an absolute disaster. we don't live in a safer world after eight years of obama, we live in a more dangerous world. you see where donald trump sits there are not a lot of good options with north korea or iran. he can go with sanctions. go with finance companies, can go with energy sanctions. can bring in russia, china, south korea, japan, in regard to north korea. not a lot of good options. the last option is the military option which is the worst on shun. trump in backed into a corner, not just barack obama who was failure. george bush didn't keep his eye on the ball, nor did bill clinton. if you don't contain nuclear weapons or chemical weapons to north korea or iran, they share them! they're shari

jack hough with us, "barron's" senior editor.ll right, you in the past have always been, if i say bullish, that is the wrong word to use but you've always said stocks will edge on higher. do you still think that. >> i have been bullish, i'm still bullish but i think you have to rein in your expectations. we had inflation reading came in not quite hot but a little warmer than expected. normally you would think here come higher bond yields, that will compete for affection of stock investors, stocks will tank. keep in mind, the starting point matters. bonds are such a worse deal than stocks right now, that it will be a long time before bond yields come up to effectively compete with stocks. that is why you can see some inflation get going. you can see rising 10-year treasury. that doesn't necessarily tank stocks. stuart: don't worry too much about it? >> you have to watch though the stock market peaked on january 26. we had a correction after that. the morgan stanley pointed out earlier december 18th. that is significant. bitcoin by

which have "barron's" senior editor jack hough and erin gibbs. we keep with you, up and down, markets, keep calm, good rule of calm. head of new york city would have vested interest in -- what do you make of idea, cooler heads prevail, you will do fine? >> we don't have to look that far back in history, staying within the market within these "flash crashes," even in 2015, when the economy wasn't nearly as good as it is today, if you had gotten out at the bottom of the crash, you would not have done so well getting back in a year later. you would have lost money. this is the worst time to get out. just ride the wave. another thing we keep stressing to our investors, earnings this year for the s&p 500 are expected to be almost 20% higher. companies will earn 20% more -- neil: wasn't that already reflected in the market, maybe too much so? that the market run ahead of that good news? >> before this crash, it was trading at about 19 times earnings. now it is down to about 17 1/2 is. neil: that is cheap, rush in. >> now it is on sale. now it is more r

jack hough, "barron's" senior editor, is with us now.hether i'm right or now, looks like investors bought the dip? >> i think so. why wouldn't you? we only had a little come down relative to the huge rise. look at 2018 expects earnings, we're 16 times earnings of the s&p 500. that is not even pricey. the best growth we have had since we stepped out of recession. i see no reason not to keep putting money into stocks. stuart: really? now we're down 71.76. ashley: here we go. stuart: stuart: 350 down. four up. look what you did, "barron's." ashley: oh, the power. stuart: am i right in saying "barron's" called, apple and facebook the teflon twins? that is what you call them, isn't it? >> yeah. stuart: what do you mean by that? >> our tech columnist, you have this news for apple where the iphone x looks disappointing in sales. i'm not sure it is such a big deal for the stock. what we see is do you on poly at high-end smartphone market where all the profits are. there is very little switching. 85% of iphone customers stick. the ones who stick,