are you still ontrack for that? we'll see new highs in most of the markets especially the dow. 14,000, the limit on the upside 1580. 1600 on the s&p. later this first half of this year. and then they crash to 6,000. i note the pattern. every bubble we've had in stocks has gone to slight new highs. look back over the last 15 years. and then every crash has gone to slight new lows. that is all we're saying. bubble burst bubble burst. that is the nature of the markets. >> ron insanna why do you think harry is wrong? >> where to start? the last time i was on with harry on november 8 he said it would be the european debt crisis and fiscal cliff that would start to bring the market down and take us to 6,000 over the next two years. harry, i watched your tape just before i came over. >> i didn't say the fiscal cliff. that is temporary. you don't get a 6,000 crash over a fiscal cliff, ron. i'm sorry. >> harry, it was in the tape i just watched. but anyway. >> then let's play it back. >> i asked them to. but apparently they

the president has done a great job to get things back ontrack. to keep moving forward in that direction and so i would have voted yes. >> you'll be a busy man in a busy congress certainly with a lot of big issues ahead of you. you have the federal deficit, spending cuts, debt ceiling. if the last congress had so many challenges producing a bill to avoid the fiscal cliff do you think this congress will be more productive and if so why? >> you know, i think that remains to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that, hey, we sent you guys up there to get to work. we mean business. stop all of the partisan bickering. of course, republicans and democrats are always going to have differences on issues. but things of this nature that could cause economic catastrophe, those sorts of things, we should be able to work a lot easier on and that's why i'm up here. i want to work with my republican colleagues. i've reached out to all of my republican colleagues in the north texas area to let

. >> so the dow is ontrack for the best january since 1994. it has lost ground in only four sessions this month so far. >> indeed. we've got the weeks winners and losers. >> positive economic data and earnings fuel the nasdaq and the dow -- excuse me the dow and s&p 500 to new highs. let's talk about the individual movers. first proctor and gamble the big winner the profit beat street consensus thanks to higher cost and new products it added to its portfolio. in health care as a sector it was a better performing sector for the week. j & j topping the list. growing optimism around a potential sale or spinoff of the multi billion dollar diagnostics business has been getting the street excited. that is why the stock ended higher. active stocks on the s&p 500, netflix staging an extended two-day rally after posting an unexpected profit. on the losing side hasbro getting hurt after announcing a 10% cut to its work force due to weaker demand from the holiday season. and now to tech. the story of the week at least here at the nasdaq. apple getting sl

the timetable for turning over security from nato to the afghans is on schedule with the next phase ontrack to begin in two months. the transition will give afghan forces full control by the end of 2014. and it's a very different and very quiet scene this morning in times square on the first day of 2013. last night was a little different. about a million people welcomed in the new year with the famous ball drop in new york city. the house is set to reconvene in about half an hour to begin expected consideration of the fiscal cliff deal passed by the senate. before any vote republican and democratic leaders will hold separate conference meetings with their members to gauge whether indeed it can pass. joining us now is nbc news deputy political editor dominico montenaro. what are leaders telling their members in these caucuses and what do you make of the news vice president joe biden will attend the democrats' closed door meeting? >> i think vice president biden like he did last night is going to have to make the sale one more time to his fellow democrats to say, look. this is the best we can

the timetable for turning over security from nato to the afghans is on schedule with the next phase ontrack to begin in two months. the transition will give afghan forces full control by the end of 2014. and it's a very different, very quiet scene this morning in times square on this first day of 2013. last night was a little different. about a million people welcomed in the new year with the famous ball drop in new york city. the house for now is expected to vote later today or even tomorrow on the fiscal cliff legislation. the senate passed it overwhelmingly in the early hours of the new year with a push from the vice president. for now we go to nbc's kristen welker who is marking the new year at the white house. good morning and happy new year. >> reporter: happy new year to you, mara. >> what do we know about the president's reaction to this legislation and the senate's vote? >> well, the president, officials here at the white house are feeling confident about the fact that the vote passed the senate with 89 votes. that means it passed with broad, bipartisan support. that sort of helps

the dow is ontrack for the best january in 16 years. what will it take to push stocks to new highs? trading in the action. how about it josh? what is it going to take to get us not to 14,000 but new highs? we're only 1.5% away. >> it could very well happen but we're kind of getting into hot stove territory here. actually surprised we didn't get a pull back today. the consumer confidence number came out and kind of changed the game. i've been pretty constructive for weeks and weeks now but it gets a little bit tougher now that some of the expectations are catching up to the price action. i saw jp morgan cite the fact that the citigroup economic surprise index is reading zero. it makes it tough to have any disappointments along the way. while i'm constructive i wouldn't put in new positions at the moment. >> before the show we talked. the consumer confidence number distorts the overall sentiment and throws you the wrong way. i talked yesterday about scaling back positions. morgan stanley. american express. even corning. but when we got that number this morning and then you see the rea

he can use whatever packard bell ontrack capital he has.has a big month ahead of the work that will then come to his desk so he can do what his job is. >> is that what tonight is about, the tone and tenor is not too much due to this point, but setting a tone. a lot of it talked about in the previous three weeks since i got this session underway. >> the optimism in the last three weeks is genuine. i visited a couple times, almost quite a coincidence. i sense there's a good positive spirit always taken place there. and i think bullock thinks that it will keep that going. >> we hope you're right. preparing to deliver his state of the state address. as we said, about a 45 minute speech. of course quite a bit different. let's listen in now to governor steve bullock. >> now to present to you, the governor of the state of montana, the honorable steve bullock. [cheers and applause] [applause] [cheers and applause] >> lieutenant governor walsh, mr. president, mr. speaker, members at the 63rd legislature, governor and mrs. babb talk, honored members