p.m. new york time. ♪ >> we are moments away from the closing bell. i am scarlet fu.senthal. "what'd you miss?" i am joe weisenthal. "what'd you miss?" alix steel is off today. scarlet: u.s. stocks closing lower. the worst start since 1928. --na's market tomorrow turmoil, how long will it last? the worst start to the year and global stocks since 2000. how much does this matter? report, tomorrow's job the data you need to see before those numbers cross. we begin with the markets. what a day. three-month lows, session lows of the day, the superlatives incredible. the dow dropping 350 points.

p.m. new york time, shanghai at 8 p.m. new york time. will the selling person test?ecial edition of "bloomberg markets -- will the ?elling persist this is a special edition of "blorg

p.m. new york time. ws 24 hours a day powered by our twitter for hundred journalists and more than 150 news bureau's around the world. back to you. miss -- "what'd you miss?" we are taking a date look and to whether the u.s. is recession bound. if you look at all the consumer confidence measures, they all seem to be holding up, but the big question is how long can at last and when might they rollover? of the tricks is you don't need to see it making new highs. mid-or late expansion economy whether we are close to recession or not. but you do not see an economy on or precipice of a recession entering a recession have stable consumer confidence numbers. they tend to move sideways and that is the modern pattern. michigan and bloomberg's own consumer confidence survey are in agreement that the consumer is confident at this point. scarlet: what are the characteristics of a mid-to late consumer expansion? two cycles,he last especially in the mid-2000, we saw a lot of vulnerability will do because of debt. peopl

p.m. new york time, shanghai at 8 p.m. new york time. will the selling person test? this is a special edition of "bloomberg markets -- will the ?elling persist this is a special edition of "bloomberg markets." from bloomberg world headquarters in new york, i am scarlet fu, joined by my cohosts keeneeisenthal and tom . joe and i were just talking about the mexican peso weakening and oil still soggy. barrel.to $32.10 a we are going to count you down to the opening of trading in asia. tom: do we really know what it's going to happen in asia? help me, joe. joe: i don't think so. trying to read some of the signals, but i don't think anyone has any idea in part because they changed the rules today. they had the rule in place that they would halt the market after a 7% decline. today, no training wheels. we don't know what is going to happen. had plans to put some circuit breakers in place and limit some of the selling, but now they have removed those and losses could exceed 7%. trading 30ou halt minutes into the day, the message you send is get your trades right. that cause

p.m. new york time. dayal news 24 hours a powered by our 2400 journalists in more than 150 news bureaus around the world. david: all eyes are on the fed today. investors waiting to see how policymakers will address market turmoil. spoke witherian yesterday. the fed may be changing its approach. >> we have lost central banks. they used to be our best friends forever. the minute there was volatility we would get a statement out of the federal reserve. that is no longer happening. lost a stabilizer. oil has lost a stabilizer in opec. the more stabilizers we lose the more volatility you get and the more risk-averse people get. alix: with us now is chris whalen. good to see you. is this what we have been seeing over the last few weeks? market reaction to the fed pulling back on their intervention. particularly quantitative easing. the purchase of trillions of dollars worth of securities took a lot of weight off the markets. the fed stopped doing that. stopped adding to the portfolio. they will continue to rein

p.m. new york time. 24 hours a powered by our 2400 journalists in more than 150 news bureaus around the world. i am mark crumpton. scarlet? scarlet: thank you so much, market consumers are driving the u.s. economy but there is not a lot of pressure on the gas pedal. , held backrly anemic in part by weakening exports, slumping commodity prices, as well as the slowing global economy. here to help us break down the numbers is michael for only, chief u.s. economist for jpmorgan, joining us from company headquarters in the city. give us your read on the fourth quarter gdp numbers. is there an issue with the core underlying demand? it was pretty well spread across the board in terms of where we saw weakness. connectnventories exports, but even consumer spending, businessman and, also came in weaker than trends. everyone took their share of the blame in the fourth quarter. scarlet: and do we attribute it to transitory factors like falling oil prices? michael: well, you know, there are transitory factors, there

p.m. new york time. we will show you the rest of the markets. us. ♪ as we get you down to the new zealand open, we have already seen asian stocks trading lower. 10%. the nasdaq off by have a great evening. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. >> global markets approach their territory. -- bear territory. remains on the slide, falling the most since september. forecasts are gloomy. the new mantra is lower for longer. asia expects more declines for the nikkei. the yen is at its strongest in a year. welcome to first up. coming to you

p.m. new york time. global news 24 hours a day powered by more than 150 news bureaus around the world.avid, since you are from north carolina, do i have to guess who you are rooting for in the super bowl? the first federal reserve meeting for 2016 will be the main focal point for market this week. janet yellen and company are almost universally expected to hold rates steady. forstors will be scouring the fed's next move. the fedose who said will not follow through with the four rate hikes projected for the year. >> inflation will go lower, and certainly, that march is off the table, even april. that's something from the fed means we do not hike in march. carl, let me start with you to get a sense. there will be no press conference. how do you think we will process what we have had? it is incumbent upon them to signal it was not a policy mistake to move in. they will hold fast. not out of pride. but out of potential market to be as the fed appears second-guessing themselves and considering unwinding the rate hike. that is taking basically five out of the picture. plus for this year. tha

p.m. new york time. global news 24 hours a day, powered by our journalists around the world.ark crumpton. david: commodities markets closed in new york. gold, choppy trading today. it futures rallied 5% for the month. turmoil in chinese markets and leaving investors reeling, boosting the demand for traditional safe havens. prices are meeting resistance at the $34 level, closing at $33.60. russia's energy ministers says the decision for oil cuts will happen if all exporters agrees. he spoke with ryan chilcote who is here to tell us more. to dial back the expectations we might get a meeting where the big oil producers would discuss a cut and any expectations there may be a cut is imminent. he made comments yesterday he says were misinterpreted. many thought he said there will be a meeting in february and they will discuss a 5% cut. he says that is not the case. venezuela is calling for a meeting. they will attend the meeting. he said it is not clear the meeting will take place and if it was to take place, who would be there and what would be on the agenda. what he also said was

p.m. new york time. the former u.s. defense attorney robert gates appears on bloomberg politics broadcasting with all due respect. refused to take up a new constitutional challenge to president obama's health care law. the justices returned a cited appeal that said that lawmakers used flawed legislative procedures to pass the affordable care act. they have upheld core parts of the law two times since 2012. the mayor of flint is in washington seeking help for her city. she wants the federal government to declare flint a disaster area. that would make it eligible for more money. it seems many people still need to step it up when it comes to choosing secure passwords. fifth list with the of most popular passwords used .n data breaches star wars, a new comer to the list ranked as the tournament more popular dust 25th most popular -- 25th most popular password that was hacked. david: thank you. this morning on surveillance, china isge noted trying to go the way of greece to deal with their prices. >> they are trying to do wit

p.m. new york time. day.l news, 24 hours per i'm mark crumpton, back to you. betty: thank you so much. it's basically been a seesaw day for stocks. they are solidly now in the red. the rally that we saw at the end of last week seems to be based on the premise that the ecb and other central banks would prop up asset prices. is this really the case? earlier mark barton and i spoke to danny blanchflower. >> the likelihood over the last week or so is that we have realized that contrary to what the fed said in december when they argued that the risks were balanced, risks are clearly to the downside and we are seeing moves on the ecb that they are presumably going to move to have more stimulus. last week we saw mark carney back off from his claim that i always thought was silly, that a rate rise was going to come into focus at the end of the year and i think we are learning what i said in december when the fed raised, that was fingers crossed hope economics and at the time i said i thought that the 50-50 chance that the next move might be a cut. a number of people around the world might be c

p.m. new york time on bloomberg television.bama's trading a task force to marshal resources across the federal government to prevent, treat, and for cancer. moonshot is a priori to of joe biden who will chair the group. died last year of brain cancer at the age of 46. today, tragedy struck america's space program as the seven astronauts who died when the challenger exploded are being remembered at cape canaveral. >> 30 years ago at this moment, we work awaiting the launch of space shuttle challenger. we remember that cold winter day. at the time, we did not realize there was a lot of debate to launch or not. unfortunately, we did and we know what happened, tragedy. nasa is holding memorial service at the johnson space center in houston and arlington national cemetery. global news 20 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. alix: thank you. kenosha is no stranger to a challenge. he tried to take on tv networks but was stopped by the supreme court. gearing up to take on cable gi

p.m. new york time. the spotlight on the flint water crisis shifts to lawmakers in michigan and washington today. the state legislature is expected to approve $20 million or more to address the lead contamination problem. in oregon, the jailed leader of that armed group has urged his followers to leave the federal wildlife refuge they have been occupying. the other bring leaders -- other bring leaders were arrested tuesday. only a few members of the group remain inside the refuge. 70 years agoay, -- today, the challenger exploded. memorials near houston and arlington national cemetery. news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. i'm courtney donohoe. betty? betty: american automaker for delivering a record annual to its all thanks aluminum body pickup truck. suv's a really popular. ♪ >> welcome back to "bloomberg markets" live from london and new york. this is "the european close." bloombergfor the business flash, a look at the news.t is this arecom

p.m. new york time. global news 24 hours a day powered by our more the 150 bureaus around the world. i am mark crumpton. back to you. betty: managing a merging markets fund is no easy feat. you have got to have an iron stomach. the index has fallen about 34% in the past five years. the city national emerging-market funds in 2011, he has garnered 49% returns for investors. $807 million funds. it declined in the past year but still beat 96% of its peers for the fourth straight year. the managing director and senior portfolio director joins us now. people will say, yes, there were declines. so how did you do it? the research we do, we take a long-term approach when identifying investments. all the a lot of noise time. the idea is to filter all the noise and take a really long term view. focused on the rising middle-class in emerging asia. i can talk about the positives. that fromave heard others because that is a big bet on the rising middle-class in the emerging markets. that,f you were to bet on you would have lost a ton of money. dahlias were absolutely wiped out. values -- values we

p.m. new york time on bloomberg television.orld's largest lottery prize is giving -- getting even larger. the jackpot has reached $1.5 billion thanks to searching ticket sales. the money will be paid in annual installments over 29 years, or that winter could opt for a lump sum payment of $930 million. your odds of winning, 292 million to one.\ inbal news 24 hours a day more than 150 news bureaus around the world. back to you. scarlet: i want to pick up on where mark left off and take a deep in the bloomberg terminal. i am looking at the deficit as a percentage of gdp. ahead of the state of the union, this is really instructive to tell you where we are in the economy. at the turn of the millennium, the government had a budget surplus of 2% of the economy. you will recall that vice president dick cheney said deficits don't matter. the line in march 2002 when the iraq war begin, and at the end of 2008, 4 .7% of gdp, the deficit. it exploded to 10.1% by the end of 2009 as the economy shrank, so the denominator was getting smaller.

p.m. new york time on bloomberg television. 30 years ago today, tragedy struck america pass space programven astronauts died when the challenger exploded. nasa held memorial services at the johnson space center in houston and arlington national cemetery. news 24 hours a day powered by our 2400 journalists and more than 150 news bureaus around the world. scarlet: with oil prices tumbling, stock prices falling, though word recession is getting tossed around quite a bit. here are three charts that support the idea that the u.s. may be entering a downturn. profits are set to drop for a third straight quarter. the s&p 500 are expected to have dropped 7% last quarter. that's the blue bar at the far right side. , you have manufacturing. the already slowing sector closed out 2015 with a thud. slipped to below 50, indicating contraction. to take a line starts leg down as well. another cause for concern if you believe credit always leads. sectorser high-yield saw the spread widening and now it is in fact ring investor grade debt, the premium investors demand to be paid are approaching levels seen i

our coverage right here at 5:00 p.m., new york time.oe: global news, 24 hours a day from the bloomberg first solar desk. scarlett: u.s. stocks will fall even further than you think. doug ramsey picks his top stocks of 2015. he says the s&p 500 has another 10% to drop. he joins us now from minneapolis. he is from louisville capital management, where he received over $2.8 billion. oversees over $2.8 billion. doug: i look at valuations on the basis of sales. price tondustrials sales ratio is still about 1.6 or so, even after the carnage of the last couple of weeks. it is still in the top 10% of the entire history, going back to the mid-1950's. what that says is that we are adjusting to the fact that profit margins are still incredible behind this country. adjusting for that fact, the simplest way to do that is to look at the top line, to look at sales. even though it has been painful here in the last eight months, especially outside the s&p 500, valuations are the second-highest you have ever seen. the other thing he noticed is that low vo

p.m. new york time. following a two-day visit to italy, iran's president hassan rouhani is in france, looking to drum up as this -- business. the associated press reports france today announced it is asking the european union to consider new sanctions against iran over recent missile tests. the head of russian state oil pipeline monopoly transnet says talks on cuts are planned. the a negotiation -- the negotiation could be within opec format. the construction workers unearthed the bones of a mammoth and other ice age mammals on the oregon state university football field. crews down the femur from one of the ancient elephants and bones from a bison and camel, reportedly dating back some 10,000 years. 24 hours a day, from the bloomberg personal desk. betty: you never know what you are going to take up in your backyard -- to dig up in your back yard. the fed decided to sit tight on interest rates. the fed said "the committee is closely monitoring global economic incidental elements and is assessing their ap

p.m. new york time, 7:00 p.m. london time. 3:00 a.m. hong kong time. that is when we get the statement. the first paragraph say? remember, you have got to change -- new members coming in on the voting site. european markets, let's show you what has been going on. europe falling. global stocks unchanged. we are waiting for the fed statement. we are twiddling our thumbs until then. dollar rebounded from the today loss. this is the dollar spot index. tracks the dollar against 10 of its peers. fed last raised rates on december 16 for the first time in a decade, this index has risen by 1.5%. it touched a record high on friday. the big question is how dovish will the fed be? what impact will to have on the dollar. fed funds futures the probability of a march hike now at 25%. basf earnings were the big earnings of the day. the big decline are on the dax, the world's biggest chemical maker reported a bigger than expected drop in profit. the plunging oil price heard it wind to shore unit. this energy business provides a hedge for its chemical operations. it is a company that is shifting its focu

p.m. new york time, the inber one and 2 seeds college football go head-to-head in arizona for a place in historyon and alabama meet on big stage to decide the winner of the 2016 college football playoff national championship. clemson is gunning for its first national championship in 34 seasons. to do so, the tigers must beat number two alabama, arguably the most successful program of our time. a victory by the crimson tide would be the school's fourth national chairmanship in seven seasons. and the fame of a music legend will live on. >> ♪ fame makes a man take things over ♪ is that afterwie battling cancer for a year and a half. his innovative songwriting and personal charisma transcended rock 'n roll during a five-decade career. his latest album was released on friday,'s birthday. dead at age 69. global news 24 hours a day, powered by our 2400 journalists in 150 news bureaus around the world. betty: a legend in the music world. thank you so much, mark, at the news desk. want to just note, the dow is going back in the green. so is the s&p. the nasdaq continues to stay in the red. frome making i

p.m. new york time. alix: coming up, apple's earnings in. has to watch her or helps the company?and coming up on bloomberg television, rick perry joins "with all due respect" at 5:00 p.m. eastern time. ♪ scarlet: coming up on bloomberg television, an advisor at cooper will be joining us at 5:30 p.m.. alix: apple earnings reporting. the key metric with the iphone sales, and we want to focus on the apple watch and how it has helped the company and effective competition. nowr to helpins us us cringe the numbers. we did see other product revenue coming in at $4.3 billion. what is your guesstimate for how big the market is for apple? >> it is difficult to say. without a shadow of a doubt, the apple watches the dominant smart watch. i would even go for it to say that it may be even the dominant watch of the moment, including traditional mechanical watches. joe: let's look big picture. we know swiss watch sale exports have been mediocre. apple came out saying that the hong kong sales have been week, attributed to the weakness of the luxury watch. how crucial is this rich asian buyer for

p.m. new york time. hillary clinton says she is open to appointing president obama the supreme court.emocratic front runner knows that there may be a few obstacles, first and foremost whether the president would want the job after eight years in the white house. senior republican lawmakers say american tax dollars should not subsidize the purchase of russian rocket engines. senator john mccain and house majority leader kevin mccarthy introduced legislation today to end such purchases. they say the sales enrich the friends of the russian president. dozens of holocaust survivors gather today at auschwitz, marking the 71st anniversary of the day soviet forces liberated them from the nazi death camp in poland. global news 24 hours a day, powered by 2400 journalists and more than 950 news bureaus around the world. i'm mark crumpton. scarlet: thank you. let's get a quick recap on how u.s. markets closed. stocksght line down for after the fomc 2:00 p.m. policy statement . the s&p lost more than 1%. even as there is no clear shift in the stands. perhaps this will reflect investor expectations

p.m. new york time. david: thank you. let's get back to the big story of the day. oil and whether or not russia is ready to compromise. the russian energy minister willing to meet with opec to coordinate on oil output, but a group of opec delegates said that no talks are planned. russia had stated in the goal of keeping crude production stable even as prices tumbled. alive?ld we keep hope joining me from london is julian lee. with me in the studio is tracy alloway. there were a number of reports that came out of moscow, suggesting that russia may be prepared to talk about possible .utput cuts with opec countries there was some suggestion that had apparently been made by saudi arabia for an across-the-board 5% cut. that sparked a rally in prices. then we saw more news come out and that, in fact, this 5% cut was something that saudi arabia had suggested at a previous meeting. it does not appear to have been proposed at the previous two meetings, so that means it is at least one year out of date. various sources within opec said that there were no plans for a meeting

p.m. new york time. tickets with a winning combination to the powerball were bought in california, tennessee and florida. no winners have come forward yet. global news 24 hours a day 2400 journalists in more than 100 50 news bureaus around the world. i'm mark crumpton. alix: i was not one of those winners. scarlet: we did put some money into it. alix: it didn't not work out. scarlet: the number of ipos falling sharply in 2015. is it another sign a recession may be looming? alix: crude oil trying to crack $31 a barrel. but the oversupplied market is containing the rebound. twitter investors don't have much to tweet about as shares reach a new low today. we will look at what is behind that sign. ♪ alix: welcome back to bloomberg markets. scarlet: it's time for the bloomberg business flash. jpmorgan held down expenses in the fourth quarter and ended with a better-than-expected profit. the cost of litigation and compensation declined. new capital requirements will not be as high as estimated. alix: best buy s

p.m. new york time. scarlet: thank you. there are some signs of stabilization for china's of economy.facturing continues deteriorate, small businesses and the services sector is showing some resilience. got athis morning, we look at this discussion. this is simply not borne out by the data. china is growing at close to 7%, if you discount that for different measures of gdp. still the fastest growing economy in the world. significant problems in the manufacturing sector because world trade is down your on your by about 12%, and has been at that rate of decline since last summer. for certain sectors in the chinese economy that's a problem, but for consumer, tech, and services, still growing. china is still importing oil at an increasing rate. the trend line still points straight up, where oil imports are stagnating everywhere else in the world. the problem from deflation has come from the central banks, particularly the fed, not from china. i spoke to george soros about this and he says a hard landing is actually inevitable. longe chinese left it too to address the changeover in the gro

p.m. on bloomberg new york times. sick and i percent of americans feel anxious about trump's presidency according to a new "washington post" hole. -- poll. 43% have anxiety about bernie sanders. refugees drowned today when sale from turkey to grace. to greece. i'm vonnie quinn. betty: thank you. back to oil surging to a three-week high after russia's minister said opec and other producers will need -- meet next month to discuss a potential production cuts. opec officials say there is no such meeting plans. what is going on? oil was up close to a percent at one point, ryan, after this came out. what is the situation? administration says there may be a meeting next month and on the table they will discuss a 5% cut. energythat, the russians -- they had a theoretical conversation. this began the whole chatter in the market about whether a cut was coming when the iraqi oil minister said he got the saudi's were more prepared to cut than they have been in the past clearly that is one of the reasons we have seen oil get pushe

p.m. more snow in new york city's but it's more so overnight 4 a.m. that new york city will deal with it. toughest time period 10 a.m. to 7 p.m. tomorrow. it's just that. they are heavy bouts of snow of the it's not a constant long drawn-out period of snow because we have these areas of dry air. that's key to the amount of snow we get from the system. dry spots will keep the numbers down. no doubt you have heard this talk about, you know, 24" in portions of the area. let me tell you, if you get one of those dry spots it's going to lower the numbers. does that low come into play? i believe the numbers are going to play out like this. eight to 12 inches around the nipping at staten island possibly. area. it's going to be a messy day with winds and storm. i will say this much. on sunday, the sun is out. my little ones will be just itching to get outside and play in the snow. you will be able to do that. as a matter of fact, even going into next week temperatures are warming up. look at tuesday. 50 degrees outside with sunshine. so our day for this is beginning -- it's really saturday. >> thank you. >>> if

new york time in 12:45 p.m. in london. can tune in on bloomberg television, radio, and bloomberg.com. betty: i know you will be ready for that t tomorrow. coming up, we stay in the european banking world. jobs and theirg bonus pool. more details on that news after the break. ♪ mark: welcome back to "bloomberg markets." this is the news of the last few minutes. being confirmed. the ftse 100 has entered at bear market, falling by over 20% from its one-year high in april last year. the ftse 100 following the stoxx 600 on friday and the msci all country world index on entering a bear market. betty.r of 3, betty: japan entered a bear market as well. time now for the bloomberg business flash. looking at the biggest business stories outside of the market. medicine is working with advisors and has reached out to potential buyers. the company's revenue was hurt last year when it's blood patent protection. shares of medicines arising on the news. audi is trying to move past the diesel and emissions scandal of its parent volkswagen.

one thing in new york city just at 2:30 p.m. eastern time ban went into effect for new york city roads and nassau county, only nonemergency vehicles allowed on the roads. talk about the road issues down there and how people are getting around, mass transit,ish issues like that. >> the mass transit has been shut down since last friday. we've basically asked all of our residents to stay off the roads and we were doing good until we got a little bit of a reprieve in the snow today and a whole bunch of folks came out not heeding the warning and then, of course, another ban came through and went right back to about 2 inches of snow per hour and about 35-mile-an-hour winds which kind of cleared up real quick right after that. >> so, when we think about this and the system continues to move through and snow is on the ground, do you think that they're going to have to be more national guard troops called up for response issues or do you think there's a handle on that? >> actually, we have the national guard troops partnered up with our metropolitan

p.m. eastern time on c-span, c-span radio and c-span.org. front pages of "new york times" this morning. they report this. it was the most intense confrontation yet between two mutually dependent but increasingly antagonistic power houses of media and politics. mr. trump who has made the presidential race into a riveting television spectacle was overtly exploit the ratings leverage his candidacy has created to try to bend fox news to its will. let's see how much money fox is going to make in the debate without me. meadows to flushing in flush, an independent. what is your take? caller: good morning. i don't know what new things this next debate is going to bring. but for donald trump, no showing up is not a wise thing to continue to you know why? is he a man whether we like him or not, he is succeeded in changing political course of this country. so everything on his side, whether channel -- you're going to be a new question which -- they will love it. but by not showing up, he becomes -- [indiscernible] donald trump until now, -- by not showing up, he not going to get anything. for me,

p.m. eastern time. the underground subway here in new york, which so many people rely on, is still open. do you expect it will stay open for the duration of this storm? >> say that again, poppy. >> reporter: the subway, the underground subway, do you expect it to stay open for the duration of the storm? >> i can't look in my crystal ball and be able to figure that out, but right now it is running. it will maintain running as long as it can, safely move residents and tuourists throughout new yok city. we'll try to maintain it as long as possible. it has to be done safely and efficiently to keep that system running. >> what about people that may lose power in all of this? what are you telling them to do? where can they go? >> well, first of all, you need to make sure you call 311, or you call your local either pseng. we've been telling people for the last four days, planning for this storm, that people need to make plans, be ready and have their emergency kit. their go kits, flashlights. they need to be in ready. we've been telling them over and over again. we're seeing maybe 200 people ri

of the court did you hear reviewed for the new york giants they are reportedly interested the timing affectte could be affected by the nfl owners maybe 5:00 p.m. before the next round of snow for anything major critic to be light accumulation i feel sorry for wayne he's been all i've been doing for hiking is for two weeks. between you and my daughter. is getting it. weather and traffic every eight minutes just ahead. ceric circus the south as we get an early retirement wide they will be leaving show business the spring. welcome back to fox 8 news in the morning. school closing and delaysyswe it's snowing pretty good out there. we're going to have an update on weather and traffic and a minute. on earth.h. they were completed early. they say thatet they will continue to feature other extraordinary animal performers included including tigers and lions and horses and dogs. that cost the federal government a pretty penny to make the penny. that cost to make it in they are actually worth. government accountabilityac office says it costs about one pointc seven sent to make a 1 cent pennies and 8 cents to make a nickel. the government blamesnd rising

p.m. here in new york. million dollar question time. late word confirmed by cnn on more than a million dollars he got from a senate campaign. remember he told a story of liquidating his family's net worth to finance the senate campaign. he did not tell the story or disclose it to federal election officials. tonight, we're learning details and hearing from the cruz campaign. chief political correspondent dana bash talked to them. what have you learned? >> you kind of take a step back why this is so important. ted cruz spent months and months, years building a brand of somebody who is an outsider, poppest and talks about washington but signaling to supporters, new york, too which is why a headline saying he got alone from goldman sachs, a place where his wife works is not something that his campaign talks about. she's been a very successful banker at goldman sachs. got a loan and that in part helped pay for his insurging campaign. that's not something that's helpful this close to the iowa caucuses. i asked him about that. listen to what h

p.m. eastern time. >>> new york can see eight feet of snow. >> it's feet! >> it's feet. ow in december at this time, they were snowed in. >> they were buried. >> we're going to get quite a bit. i'm going to explain lake effect quickly. here's an image yesterday when we were seeing lake effect over superior and lake michigan. you get some very very cold air moving over relatively warmer water, the lakes are not frozen over yet. they will be later on. until they do, we get lake effect snow. what that is is the mainly's picked up, sent downstream and then dropped on the south side or east side of the lake. you can see strands of clouds pushing down. yesterday, they were getting the lake effect, today it is new york. you can see it working out right here across lake ontario and lake erie. the cold air is picking up the moisture, taking it to the eastern part, taking it in land and dumping it. what's happening, we're getting quite a bit coming into vermont as well as massachusetts. we're going to be watching this very carefully. they've actually extended some of the lake effec

p.m. here in new york. million dollar question time.word confirmed by cnn on more than a million dollars he got from a senate campaign. remember he told a story of liquidating his family's net worth to finance the senate campaign. he did not tell the story or disclose it to federal election officials. tonight, we're learning details and hearing from the cruz campaign. chief political correspondent dana bash talked to them. what have you learned? >> you kind of take a step back why this is so important. ted cruz spent months and months, years building a brand of somebody who is an outsider, poppest and talks about washington but

time we get to tomorrow. for us again we are quiet by 5 p.m. the snow is advancing into dc and by the time we get to saturday morning, predawn is into new york city. for us the clouds thicken saturday morning. south to north during the late afternoon and evening. so that's when conditions will start to deteriorate here at home. notice the rain snow line. it may flirt with the outer capeand nantucket saturday evening and night. storm center itself passes well south and east of nantucket witbands of snow that lingers early sunday morning and wrap up from northwest to southeast. so, still over 48 hours out from this event there's going to be a very sharp cut off. this looks like a low impact and especially north of the mass pica sharp cut off in the city of boston with a few inches from the boston to worcester and providence corridor but the highest risk of 6 or more inches along the south coast back to the canal and the wind is an issue gusts topping out between 45 and 60 miles per hour on the cape and island. time frame is saturday night into sunday morning. that means we have got tide psychels to watch at the coastline. flooding and beach erosion

new york. he will have a first seat next to michelle obama. he works on humans of new york. the president will deliver thinks state of the union 3 tuesday night at 7:00 p.m. our time and you can watch it right here on denver 7. department of education will announce updates regarding the colorado entrance exam. it is moving away from the act exam for college entrances and will start using the sats. this has many parents and superintendents around the area upset. the department of education says it will not affect people applying for college this year. >>> a snowboarder found dead on %- vail mountain has been identified as logan saviano. his body was found near a tree after being reported missing wednesday. he was an employee at vail mountain's elk lodge but was not working at the time. his death has been ruleddan accident. >>> the meat processing company %- is changing its termination pooicy after muslim workers were fired over a prayerr dispute. it announced changes on its website friday. employees who walked out last month can reapply for jobs in 30 days instead of 180. the plant fired 150 muslim workers last month and now it's workers leave the area. at least on

p.m. eastern time. new yorkgency vehicles from hitting the roads and the police will make sure that happens. >>> let's bring in bill karins, msnbc meteorologist and i understand that you got the snow totals. what are the update sfls >> well, the big ones watching and waiting for central park and reagan national. and that is airport in downtown d.c. and they had a dry slot, and reportedly only one inch, so they went from 14 to 15 inches, and still a ways to get to the 20 inch mark. and now, new york central park six hours ago reported 6 inches of snow on the ground and now they are reporting 14.7 inches already in new york central park. that is not in the top ten. they will get in the top ten all-time snowfalls for new york central park, they have to get to 18 inches, and so we will have a legitimate shot. the biggest snowfall ever was 26.9 inches, and we are obl 11 inches from that, and it could be a close call by the time it is said and done. we also got a e-mail from my friends at the weather channel, they are

p.m. ohio governor john kasich and former secretary of state hillary clinton have earned the new york times' endorsement ... just a few days ahead of the iowa caucuses. the times wrote, "governor john kasich of ohio..though a distinct underdog..is the only plausible choice for republicans tired of the display in this race."it cited kasich as a veteran of bi-partisan deals during his time in the house ...and praised what it called the governor's 'end run' around the republican legislature..to secure a medicaid expansion in ohio.the times said it picked clinton over vermont senator bernie sanders due to her experience and policy ideas. meanwhile hillary clinton and donald trump have come on top in the latest poll in iowa. the bloomberg politics - des moines register poll is probably the last major one ahead of the iowa caucuses tomorrow.the democratic race is in a statistical dead heat, with clinton three-points ahead of bernie sanders.that is within the poll's margin of error. on the republican side, donald trump is five points ahead of his closest contender, ted cruz.marco rubio is third, 1

p.m. eastern time ptonight. pi'm jackie, in new york, fox pnews. p>>> here's a live look outside pright now meteorologist jim pweber will have another check on pyour forecast when we come back. lus charley belcher takes us to pthe rv super show. my constipation i've tried laxatives... ... but my symptoms keep returning. my constipation... ...feels like a heavy weight... ...that keeps coming back. linzess can help. once-daily linzess treats adults with ibs with constipation or chronic constipation. linzess helps you proactively manage your symptoms. it may help ryou have more frequent p and complete bowel movements t that are... ... easier to pass and may relieve your belly pain. do not give linzess to children under 6, and it should not be given to children 6 to 17. it may harm them. don't take linzess if you have a bowel blockage. get immediate help if you... ... develop unusual or... severe stomach pain... ...especially with bloody or black stools. the most common side effect... ... is diarrhea, sometimes severe. if it's severe, stop taking linze

new york. it will be tuesday night at 7:00 p.m. our time and you can watch it right here on denver 7. >>> take a look at this video out of hawaii. a rock fall at the volcano created this explosion. this happened this morning. explosions like this happen more often when the lake level is high. the explosion isn't threatening communiiies. >>> welcome back. for dozens of kids this week's 7 every day hero is always in their corner. the boxing ring for this outstanding volunteer. >> bop, bop, bop, half step. >>> boxing can be unpredictable so it helps to have someone like tomas showing you the way. >> kids we get in here we bring them in because they don't got no confidence in themselves. they have been bullied. volunteered to help lead a boxing gym called house of pain. the goal is to stay in shape and stay out of trouble. >> i have been a gang member but the thing is i don't want to see them do that. >> kept me out of drugs, gangs, streets. out of everything. i have been focused since i was 4. i have been motivated, confident. i am going to go

. >> and in new york city, times a travel ban in effect as of 2:30 p.m. so what's in store for the rest of the night? >> our team of meteorologists has this storm covered, tracking snow and heavy winds throughout massachusetts. >> and our 7news team live in the hardest-hit areas, bringing you storm force coverage. first up we check in with jeremy reiner. >> jeremy: we have a blizzard warning in effect until 1:00 a.m., cape cod, martha's vineyard and nantucket. on the south shore, south coast, it's a winter storm warningen city of boston it's a winter weather advisory. blizzard criteria for the cape and the islands, not because of the amount of snow, which will be impressive, but more about the reduced visibility. under a quarter mile or even lower for three consecutive hours. they've had those conditions on nantucket this afternoon as well as the cape for a few hours, as well. so on the doppler radar, it's been a fight as you come off of the cape. around metro boston, dry air out of new hampshire has been trying to hold off the snow bands coming in from t

time lapse we've got from virginia. he started filming on his back deck at 2:00 p.m. on friday. i could watch these time lapses all day. just unbelievable. >> holy cow. >> go to "new york times".com website. there's one overlooking central park. boom. >> wow. >> man. >> true snow blowing effect. >> up to three feet in the washington, d.c. region. new york city having the second largest snowfall in the city's history. just missed it. 26.8 inches in central park. from weather-related incidents. we have some statistics for you. let's take a look. top snowfall by state. west virginia, 42 inches. 39 in virginia. 38.3 in pennsylvania. maryland right behind. new york coming in at 31.3. then as you look at the snowfalls, the records that fell, this is kind of incredible, allentown, 31.. jfk, 30.5. harrisburg, 30.2. bwi, 29.2. laguardia and newark airports at 27.9. here's the other amazing fact. for the average snowfall for the year, check this out, okay? we've got more than a season's worth of snow in this one storm. 28 inches in dulles. philly, 22 inches, more than their average. normally gets 23.5. central park picked up more than its average. it really was unbelievable. >>

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new york city but still looks like most of it will be tomorrow. i think toughest hours 10 a.m. to about 7 p.m. tomorrow. that sort of time frame. there will be a sharp cutoff where the snow is and isn't north of new york city. wind gusts up to 60 miles an hour. coastal flood warnings. suffolk county not under the coastal flood warning. that's a mistake. i think we'll see big wind gusts there. look at how the models are work. you get to, say, 8:30 tomorrow 50-plus-mile-per-hour winds on the jersey shore. montauk gets up to 67-mile-per- hour gust. that's going to give you problems on our shoreline. we are talking about coastal erosion and surf at the jersey shore 8 to 12 feet. you're talking about the south shore with four to eight feet. offshore some of the buoy data is suggesting 25-footers well offshore sobiech erosion is going to be a problem. it's a big part of this storm. back to you. >> thank you. >>> meantime, there's growing concern about the homeless during the storm. coming up, a first for mayor de blasio. and a celebrity who is urging new yorkers to take action. >> i guess i could say the word is cowardice. >> a teenag

new york by 9:00 p.m. killed in rather related incidents. forecasters expect the storm to pick up intensity tomorrow morning. >>> rain boots were needed today but it's time for heavy scarves and jackets. >> and i'm tracking the coldest air of the season. >> and a crash that was staged and heard a mother and her children and investigators are >>> investigators say a pair of children got hurt in a crash orlando man is accused of staging it. >> and the man is accused of telling his girlfriend he was buying new clothes for her kids just to put them in harm's way. >> reporter: orlando police were there. they took statements and wrote in the crash report that everyone complained of neck, back and read possibly has been refused to be transported to the hospital. insurance insurance investigators the pain was real but everything else a lot this person pretended he was the passenger, passing of his girlfriend as the driver. and he ran the whole operation. he had a friend driving the cars and they would recruit others to drive the cars they were going to be in. involve three cars. and he would jump out and leave other people to take the blame. and last year he con

p.m. local time here in new york.urpasses 20 inches of accumulated snow, this would be one of the top five snowstorms in recorded history. that is what is being described by new york city officials as well as state officials. some advice there from the mayor to parents who want to take their kids out. this is a very fast moving snowstorm. still, warning folks out there to be careful. windy, very icy and a lot of accumulating snow. don't let your kids out alone for the time being. saying these plenty of time to play in the snow in the coming days. a dangerous situation developing throughout the course of the day. up next, we're going to talk about what this record breaking storm means across the region. stay with us. i'm billy, and i quit smoking with chantix. i had a lot of doubts going in. i was a smoker. hands down, it was... that's who i was. after one week of chantix, i knew i could quit. along with support, chantix (varenicline) is proven to help people quit smoking. chantix reduced my urge to smoke. some people

new york in the next five to eight hours. all of the roads will be closed at 2:30 p.m. eastern time, half an hour. at that time, the george washington bridge, the lincoln tunnel, major thoroughfares the nation's pop lus city. coming in from new jersey, long island, those will be closed at 4:00 p.m. eastern. everyone is being told to go home and be safe. go to our meteorologist chad meyers, he joins me in times scare. >> reporter: well, that's the problem now. people are walking around and at 2:30, they need to be in their cars and go home. they're having fun here. except for the people behind me here. those people in the tkts line, they stood in line this morning to buy tickets for the shows here on broadway. now those shows are closed now they're standing in line for a refund. that's not how i want to spend my time here in times square. where is your sled? >> i don't got one. >> where is yours? >> i don't have one. >> come on. this is time for fun in new york city. poppy we're -- they're from boston. the snow hasn't melted from last year yet. poppy, it is going to get deep here. i'm telling you,