. >> tom lee >> tom lee is joining us at 8:00 a.m.el be here for an hour. >> again, i will get him to finally say, all right, i wish i never said anything! i had a great run with stocks. with my market calls okay i admit it, i hate bitcoin >> stay tuned at 8:00. >>> today's red arrows around the world are a continuation of the 2018 market selloff. the dow, s&p and nasdaq suffering their worst year since 2008 the dow and s&p down about 6%. it's the first time the s&p has been down in ten years the nasdaq lost nearly 4%. the fourth quarter was particularly brutal. all three major indexes down by double digits. the nasdaq was the worst performer. it dropped more than 17% >>> two big market moving events to watch this week both happened five days from now on friday -- >> no. no >> okay. all right. the december jobs report, that data will be released at 8:30 a.m. eastern beyond those numbers we will hear from jerome powell on friday >> getting back into this. >> perfect he will participate in a panel discussion, totally aid ld libb with hi

see where tom lee is most bullish. >>> two noted analysts weigh in on netflix and apple the call of the day. focused on the power of the great and hungry american consumer the halftime report with scott wapner w wapner starts now. >> welcome good to have you here on this friday let's begin with the markets the s&p fooi hundr500 has beeniv days you say we'll have a double digit gain for conneequities why? >> we list the five cross market sentiment factors. the probability of a double digit year is the highest since 2009 >> what gets us there? >> we had a water fall decline the average is 21% the there's a cross market argument. high yield posted in negative year last year there's been five years where there were negative turns. there's multiple factors we discussed. sdp you think the bull market is in tact and it's going through what you termed a midlife crisis you think this has a long run ahead. >> i think the key is if we avoid a recession. it's a low down similar to the policy driven slowdowns. after potentially a retiest, the market is a buy. >> you say the list of risks exceed the

here's what's coming up top of the hour strategist tom lee is with us to reveal his 2019 outlook. >>>nd a food fight over our call of the day. which restaurant stocks are your best bets this year. and big note on apple from katie huberty. that stock's next move, we'll do it on the half see you in a bit >> that's the question, scott. we'll see. >>> let's get to the cme rick santelli has the santelli exchange rick >> thanks, jon in order to understand the global funk, we need to see how it all developed i think that's pretty easy in macro terms. the election 2016, for getting politics, look at generalities, the person elected was business friendly that's why the rally ensued long before he was sworn in that hit at a time it was a good catalyst to seed global growth, synchronized global growth that was 2017. 2018, divergence divergence what does that mean for 2019 let me think what do you think the opposite of divergence would be convergence. but the problem is will it happen in 2019 or will it be later? are we going to converge or have a recession to purge before we converge i don't kno

that's where markets turn if they're in mid-life crisis. >> tom, good to see you thank you tom lee of fund saturate. >> i think the fed is doing the right have. i don't have a fed conversation. if you are talking about president trump for example and his barometer miss report card has been the stock market, more so than ever in his dplrgs they are in dire need of a win you would imagine given what's happening in the markets the last month, month and a half maybe he reaches out to president xi and says this is mutually assured destruction let's come up with something making us look good. maybe you get a trade deal that for a week or so with assauge the fears in the market. i happen to think it's greater than just that but that could happen and could happen. >> jerome powell speaks upon pan janet ye janet yell and ben bern naeng. >> the two that cot away scot-free. >> the people waiting for the fed to react to it market they will be holding their breath a long time. anybody who didn't think the fed would o in december. -- this is what happened in the first quarter of 2016. i'll say it a

i know tom lee a friend of the show fund saturate had data about home builders about a month ago fromate october to mid-to late april. the sector over the last 20 years averaged rallies about 20% or so. they haven't anticipated participated thp they haven't made new 52-week lows deep ner the year and settle on the rate front in group starts to work. >> you have hope. >> i'm trying to be contrarian. >> it was one of the first sectors that went bust last year. >> great when dan has hope. >> it's so rare. it's so rare that it's really noteworthy when it happens. >> it's like -- remember we used to talk about green shoots >> new beginnings. >> that was in 2011 and 2011. >> it was "fast money" classic guy. >> i don't have as much hope poly homes has gone to 22.5 in the last couple weeks. maybe you saw the move there dan. >> tim final trade. >> the xrt outperformed since the skrm lows in i think the retailers are gichgt you strong christmas eve numbers. go there. >> chairwoman. >> i think this cbs rate is throw low and i would not be surprised to see a deal here. >> intel interesting upgrad

wrap up everything we've been seeing in terms of market action, results over the past 24 hours is tom leeat 780, there was a guy a that missed it when the dow moved up when he got 900 he said we will never see 800 again in our lifetime, ever it will never hit 800 again. >> there are times when the market never goes back to where it was so are we ever going to see 20 at the s&p? >> if this was the mid-life crisis, that was the low and we have 10 years before we have another big scare, potentially. >> so you're saying 10 years from now we could go back down to where -- >> oh, no. i think 2350 -- >> we'd have a 20% correction for much higher. >> i think 2350 is the low that people have to treat like 2009 what happened last year is like weig weigh weight the number of stocks off 70% of their highs reached the highest in almost 11 years. >> so more than a 20% pullback you're talking about a rolling correction working its way through market. >> and it took so many stocks down 70% from their highs and this year the play book is probably more like 2009. you would not think we test the financial c

tom lee was a world war ii "life" magazine author and artist.depression for the wpa, inclu including, he did one on the post office here in d.c. one of his most enduring is in the federal courthouse in el paso which is titled "the pass of the north" which depicts our history behind me. tom has a quote in his oral history that's been repeated by president george w. bush and others that truly depicts our community. he states, "sarah and i live on the east side of our mountain. it is the sunrise side. not the sunset side. it is the side to see the day that is coming, not to see the day that has gone. the best day is the day coming with the work to do, with the eyes wide open, and with the heart grateful." thank you. [ applause ] >> again, thank you, mayor margo, for your incredible leadership. our next speaker is john campbell, executive vice president, director of corporate philanthropy and community relations for wells fargo. john also serves as president of the wells fargo foundation. today, john is here to announce a 2019 wells fargo and uscm c

. >> tom lee, good friend of the show called it one of the worst monetary policy errors ever.hen he says what if they have to pivot back to a hawkish position whats s thappens to credibility then >> i agree with him on the first part it was incredible how stupid it was. shoot, that wasn't very diplomatic it was mistaken. it was ill-advised but i disagree with him entirely if the economy picks up, then we're ready for a rate hike. you don't put a rate hike in for deceleration that you caused, by the way. china's mentioned repeatedly i think the chinese are going to capitulate the president is deeply rooted in things like steel so anyway, i feel like i like what i heard from powell >> we're going to find out a lot more about the market's reaction to the fed there's another school of thought that says, all right, wednesday could not have been scripted better, but we still have half a trillion of quantitative tightening this year there's a debate about how much tightening that is on a basis point basis. >> no. i mean, that's just inside baseball look, we're going to be fine i actu

stuart: tom lee, thank you very much indeed. >> thanks. stuart: we have the dow up 255 points. at this. congresswoman maxine waters, she heads the house financial services committee. she laid out her agenda for this year and she is going right after the banks. let's bring in kristin tate, columnist of "the hill," author of the book "how do i tax thee? " i love the title by the way. kristin, what damage do you think maxine waters could do to the banks? spell it out what could she do to them? >> she could do a lot of damage but a lot of these big financial institutions have violated the law and need to be held accountable. like wells fargo. they were caught creating 1.4 million fake fee-based accounts for customers just to collect the fees. so that stuff has got to stop. i don't care if they want to throw white-collar criminals in prison for violating the law but here's the thing, stuart. marks even waters and alexandria ocasio-cortez, these left-wingers of today's democratic party, their agenda extends far beyond just holding white-collar criminals accountable. these people hate

marty mosby, director of bank and equity strategies and also covering the broader markets, we have tom leeof research at fundstrat global advisors and richard bernstein. also noah blackstein of dynamic funds. quickly, j.p. morgan, what do you think having time to kind of dig through the numbers? >> i'm going to get joe's confidence and analyst back. $11 billion is what we expected them to earn between revenues and expenses if you net those two things out. the market consensus was $11.5 billion. if you take the numbers, it was $11.1 billion which is closer to what we had but in the range of what you expect. two things we saw that created the difference, provisioning, taxes and unusual items. so that is where you really have the difference happening outside of revenues. >> we have wells fargo a couple minutes. we'll stick around to talk about that richard, what do you think about what we're hearing at the beginning of earnings season i know it's very early jp morgan out there. but based on what you're seeing, what does this tell you? >> i think, becky, i think the story for 2019 as a whole i

defender nicole man committing what many s was obviously passntference against saints receiver tom any leealty was called. by rule, pass interference cannot be reviewed. >> they blew the call. there were a lester holt of portunities, that call puts us first and ten. it's a game changing call. >> obviously in a situation like that where it seemed like everybody in the world saw , that's tough. >> reporter: as l.a. celebrated their super bowl berth, soc media erupted. hall of fame coach tony dungy tweeting, thatass interference has to be called. kurt warner and lebron james d. stunne it didn't end there. one popular new orleans bakery debuting no ref cookies while a louisian doctor jokingly offering free eye exams for nfl officials. >> one of the worst blown calls i've seen if not the worst. >> reporter: referees are enbject to i scrutiny, especially when the stakes are high. infamous calls and non-calls have impacted outcomes inports for generations. as rams fans anticipate a super bowl showdown against tom brady and the patriots, saints supporters can't shake the feeling that one got away.

. >> the president's plan did not have the support of republicans mike lee or tom cotton and separately six other republicans broke with their party leaders to support the democratic plan, which doesn't have any new border wall money or protections for dreamers brought to the country illegally. lamar alexander, lisa murkowski, susan collins and mitt romney voted to fund the government for two weeks. but the plan was no good because they know president trump will not sign it. >> you can try to teach a goat how to climb a tree but you're better off hiring a squirrel in the first place. the trump proposal will security the border and get government open and the schumer proposal will do neither. >> we have no idea what is next. there's been a real lack of leadership level negotiations as this vote was put on the calendar, but just in the last few minutes, chuck schumer, the minority leader said on the floor that mitch mcconnell has requested to meet with him in his office sometime soon. so if there is going to be a different kind of compromise, we might know in a little bit. neil? >> neil:

. >> there's liberal use of the word in the play the way that it is in tom sawyer and in harper lee's just say to these college students what i say to my own kid is there are words that are okay on a movie screen or on a stage that absolutely aren't okay in life. >> and it's historically accurate because that is how people spoke at that time. >> yes, it's historically accurate, but more important it's crucial that we see the casual cruelty that was going on. that people are using the word. they're using the word in front of african-americans and using it very -- and using it very casually. and it's important that they see that. i hope those college students you're describing do the play and discuss what we're discussing. >>> up next, for seven years, president bartlett sat in the oval office presiding over america. the fictional commander in chief was much loved mostly because aaron sorkin wrote him that way. >> isis a time for american heroes and we reach for the stars. >> so what is sorkin's state on our nonfictional president and the words that come out of his mouth? oh, don't worr

there were two republican defections there, tom cotton of arkansas and mike lee of utah. and then the procedural vote was 52-44 and there were six republican defection, lamar alexander, susan collins of maine, cory gardner, milt romney with and lisa murkowski of alaska. consider this, david. that the democratic plan got more votes than the republican plan and number two, there were more republican defections voting for the democratic plan. the democratic plan was to open the government through the 28th of february where they go off stage and try to work this out. that's what lindsey graham is suggesting. i just followed chuck summer out of mitch mcconnell's office abts aabout an hour and a half d 13 times, that's all the he would say, he said, quote, we're talking. we're walking. we're talking. we're talking. at the end of the day it's about the math. going to have to have 60 votes in the senate and they're going to have to have the president willing to sign something. david: and the short three-week plan, tell us about it? >.>> it would reopen the government at a continu

among the republican nos tom cotton from arkansas and mike lee, the republican from utah.nother vote will start in a minute. these were these competing side by side plans. republicans first, that failed. this would reopen the government through the end of september. fund the border wall, provide provisions for democrat recipients. now the democrats with a temporary bill which would fund the government through february 28. this is a procedural vote, shep. needs 60 yays. we expect some republican defections here. we're looking at going back to my list, susan collins of maine, lisa murkowski of alaska and gory gardner of colorado. both of these will fail, but the key here is that the senate is taking its first votes on ending the government shut down since late december, before christmas. these are markers that the senate is throwing down to say, we can't get the 60 votes on either republican plan or a democratic plan, shep. >> shepard: john bussey, unusual for mitch mcconnell specifically to bring anything up that is not going to get the president's signature. this is happen

tom cotton, mike lee, senators from utah voted no. this action in the senate right now, nancy pelosi really doesn't have a role to play at this minute. part of it is because, at the end of the day, if you think you're winning you want to see what they can produce. even pelosi had signal that earlier today, they want to see what the senate comes back. that is what she said when she came into the capitol this morning. at the end of the day nancy pelosi has already made her play. you know that isn't being frozen out of the deal by any stretch of the imagination. they have thrown down their markers. if they have subpoenaing that could get 60 votes in the senate, they could get something moving through the house because the bar is lower. you just need a simple majority. here is critical thing to look at too, neil. it is still thought this might take a couple more days to work out. even if it does, it will move really fast through both the house and senate, especially if it is an interim deal. neil: on nancy pelosi -- she was the one who sa

keep in mind yesterday two republican senators voted against the gop plan, mike lee of utah and tom cotton have to get that clearance first. then it would move to the house of representatives. i'm told that would likely move by a voice vote. that is little different. those opposed everybody hollers yea and those opposed nay. the key thing in the opinion of the chairs ayes have it. that is what you hear from the presiding officer. we expect that sometime no later than 9:00 tonight in the house of representatives. you need the president to sign it. now the 64,000-dollar question is, are we back here in three weeks time? i asked kevin mccarthy house majority leader last hour, if he thought the president's threat to go to the mat again is credible? he said yes. there is very important ingredient to the measure they will move through the house and senate later tonight. we're dealing with a cr, continuing resolution. it is a bandaid to open the government on a temporary basis. all it does renew all the funding levels at the old spending figures. the side part of this is something called a motion

. >> tom, i want to ask you real lee merritt is an attorney general and says this could be in a similar incident in 2017 in terms of somebody innocent being shot, same kind of truck he alleges, and there has been nobody found in that case back in 2017. will authorities -- help us understand what authorities are doing now as they look into the the backgrounds of the people they do -- this man they have in custody and any other people they may have been talking to. >> particularly with the individual in custody or other suspects that have been identified is they will be trying to trace back to previous unsolved cases of where these individuals were at that time. you know, do they have an alibi where they were at that time and how closely do the descriptions and other details of the shootings match. in other cases, you'll have the bull let, what caliber gun was fired, was it a handgun, rifle? they will have some of that evidence to work with and compare to other unsolved or even solved cases. >> janet, how long do you expect this suspect to continue to communicate, considering that as tom

hegseth, rand paul, bill hammer, sandra smith, chuck janine, a quiz show with tom schuler who and at the conclusion of the program, lee bless the usa. we will make a big entrance in 12 minutes. take a peek. there is our first ever live studio audience kicking off shortly on fox news channel. rob: okay. jillian: steny hoyer countering nancy pelosi, admitting walls do work in some places. >> for the people living in border states especially with some barrier that has been constructed, you say they don't work. they work there. >> obviously they work some places. rob: that is a big moment. democrats move closer to embracing a border barrier. republican congressman michael burgess in texas joins us live. good morning to you. the same interview which was a great one, bret baer got him to say walls can work and do work and walls are immoral, nancy pelosi's right-hand man. what do you think? >> a breakthrough i guess. we have all been waiting to see when people are going to talk to each other about this. it has been a series of speeches and talking points to this time. i hope it is indicative there is now going to be a little

tom sawyer. >> and in the book. >> and in harper lee's book.o these college students what i say to my own kid is there are words that are okay on a movie screen or on a stage that absolutely aren't okay in life. and it's historically accurate because that's how people spoke at that time. >> it's historically accurate but more important, it's crucial we see the casual cruelty that was going on. that people are using the word. they're using the word in front of african-americans and using it very -- and using it very casually. and it's important that they see that. i hope those college students you're describing do the play and discuss what we're discussing. >>> up next, for seven years, president joe sibartlett sat in oval office. he was beloved, mostly because aaron sorkin wrote him that way. so what is sorkin's state on our current nonfictional president and the words that come out of his mouth? sorkin on trump when we come back. how do you gauge the greatness of an suv? is it to carry cargo... s at your local mercedes-benz dealer. mercedes-be

republican senator tom cotton immigration hard liner voted no, senator mike lee, utah republican also voting no. >> i mean, it's very important to frame this a little differently from the way some people have. i've been traveling lately and when you travel you are asking for the tsa to help you and keep you secure and if you leave the country, the border patrol and customs do. all of those people are working without being paid. is that what we've become as a country? in many ways it's us against our own civil servants. this is not a hard problem. this could be solved. it's the president who decided to use the leverage of blackmail to get through his vision of border security. >> how so? >> because he decided after the c.r. -- the continuing resolution was passed by the house and the senate, he decided, i'm not going to sign it, which meant they've have to get higher thresholds of votes. he's the one who injected the border issue into this. our government would be functioning and because the american people in november and elections matter said we want divided government and what does

lee on his way to cali ariz contain a pole in search of sardinians ramen tom von essen he has found clues as to who ordered four hundred eleven million euros worth of munitions from ryan metals italian subsidiary are w.-m. italian saudi arabia. but the government that they've essentially change their strategy they used to fly the bombs out now the ships with the but we knew that this was the best place from which to take photos of the secret operations with no ban on cameras from here we recorded what actually happened that we don't usually eighteen containers a month were loaded up with one thousand to one thousand five hundred bombs maybe. but i said let me get your question. from them and tell me that they were mainly transported by saudi arabian ships three or four belonging to the battery shipping company that was a dock and load up the saudis evidently decided to run the transport themselves so the decision for. the military coalition in yemen needs a lot of bombs by the end of twenty seventeen saudi arabia and its allies have flown more than fifteen thousand air rage according to i

lee if you are, chair of the committee. i am joined by catherine stefani , and welcome to supervisor walton. i would like to thank helena and tomm s.f. because --

tom burridge, bbc news. a police sergeant who was injured in a suspected terror attack in manchester on new year's eve has said "instinct took over". sergeant leethree people injured in the knife attack at victoria station. greater manchester police have said they're "increasingly confident" the man who carried out the attack acted alone. our correspondent fiona trott is at victoria station for us. this is where the terrifying attack happened on new year's eve on the tram platform behind me. sergeant lee valentine was stabbed in the shoulder and we have been told he is recovering at home. but when you hear his account of what happened, you get a sense of how brave he and his colleagues were. we had no idea what we were running towards when we heard the screams, you said. when we saw the man wielding a knife, instinct took over. police believe the attacker may have acted alone in the attacker may have acted alone in the final stages but in the coming months will try to establish if anybody assisted or encouraged him. meanwhile the search of a house near here has concluded. the 25—year—old arrested on suspicion of attempted murder has been detain

lee 1,000 outages. we learned in the last hour that's been cut in half. you can see aotacross the bay a >> live in novato where there were a lot of people without power there, tom. >> reporter: you're right, guys. we moved to san rafael where we are right now. just off highway 101 northbound at irwin street just off the on ramp there, just up the block. this is what we're seeing. just like you guys were talking about, downed trees. this one the top of the tree thates blew off in the high win. trees down all over this street and around the san rafael area. we've got warnings from pg&e out here this morning that some of these power line could still be live. a pg&e worker on the scene wa any closer because of the uncertainty about whether or not those lines were hot. we also saw the top of this large tree that broke off in high winds down the street. downed power lines and other wind related damage knocked out power to nearly 17,000 customers in the north bay. many still without power. no idea when it will be restored. thousands of households and businesses have been without power for several hours. we did get new numbers just a short time ago from pg&e. those num

lee if you are, chair of the committee. i am joined by catherine stefani , and welcome to supervisor walton. i would like to thank helena and tom from s.f. because -- s.f. government t.v. for broadcasting this meeting. are there any announcements clocked. >> please silence all cell phones and documents to be submitted as part of the file should be given to the clerk. items acted upon today it will appear on the genuine 29th agenda unless otherwise stated. >> can you please call item number 1. >> resolution retroactively authorizing the department of public health to expend a grant increase of $147,000 for a total amount of $554,000 from the california department of public health to participate in a program for a period of july first 2018 to june 30th 2019. >> thank you very much. this item was sponsored by supervisor stefani. supervisor, do you have any words, okay, that's great. i believe we have dr susan phillips here to present from the san francisco department of public health peer good morning. >> good morning and thank you very much. either direct i am the director further department of public health disease center. we wo

lee if you are, chair of the committee. i am joined by catherine stefani , and welcome to supervisor walton. i would like to thank helena and tom -- s.f. government t.v. for broadcasting this meeting. are there any announcements clocked. >> please silence all cell phones and documents to be submitted as part of the file should be given to the clerk. it

tom mackenzie just wait out really -- just weighed out. home price growth grinding to a halt. let's discuss all of that with alan lee. -- at the commercial space, you are forecasting a moderate decline looking at 2019. >> actually it is quite a soft decline in demand, given the transformation of the economy in the last 12 months. it has given conflict on the trade and also give pressures and also industries. especially like the trading companies. it is upsetting by the strong domestic new demand especially generating from the new technology industry. other industries generating from the strong technology innovation process in domestic economy. ramy: looking at how the u.s.-china trade war is playing out or maybe at a standstill, how can investors factor that in to whether or not they should invest in the real estate market? what we have seen last year after differing investors -- very active in the chinese real estate market, a whole year basis, it is actually a record high of 78 [indiscernible] domestic markets. that is taking advantage of the softening monetary policy of china and also a process of deleveraging pro

lee. in music we lost the great aretha franklin, the queen of soul, at 76. roy clark left us, as did hugh masakela. legendary authors and writers. phillip roth. the great tomc simon. the designer kate spade. science and technology legend stephen hawking. and microsoft co-founder paul allen, who left us way too young at 65. winnie mandela died at 81 and former u.n. secretary-general kofi annan at 80. auto racing icons dan gurney and the great silver fox of nascar david pearson. preacher billy graham, gone at the age of 99. also remember the loss of anthony bourdain this past year. took his own life at the age of 61. and the global reaction to the loss of this cook, this chef, this storyteller, this traveler i think surprised a lot of people. farewell. all of which somehow brings us to this moment. number 1 on our list. this year's list of the most is topped by -- >> bob mueller. >> robert mueller. >> mueller. >> bob mueller. >> robert s. mueller. >> s. stands for swann. robert swann mueller iii. >> and he still holds all the cards. and he still for a lot of americans represents all the hope that we'll get the truth about how our election shook out, who chos

lee, ktvu fox 2 news. >>> still to come, we are just days from super bowl liii. coming up next, what novato native jared goff is saying about facing san jose native tom brady on sunday. >>> ktvu fox 2 news where the power of 2 comes from you. >>> disturbing news now about empire star jesse small it. he is in the hospital after being assaulted in chicago. police say smallet was assaulted on two people yelled racist and homophobic slurs at him. they tried to wrap a rope around his head. he was transported to northwestern hospital, where he is doing okay. officials are investigating the incident as a possible hate crime. >>> oakland raider fans are still not quite certain about what's going on next season, telling season-ticket holders to be patient while the raiders figure out where they are going to play next season. ticket representatives are reaching out to fans with a promise they will stay in touch. the city of oakland sued the team last year for moving to vegas. the raiders and canceled the final year of their lease in oklahoma. nfl commissioner roger goeddel has asked the raiders for a plan by early next month so the league can start putting the season schedule

lee different than we expect on monday. be interestingll to have a discussion about the political sphere because donald trump is not coming. his administration is not going. theresa may of course is not. tomson. francine: they need to stay in london to negotiate brexit. let's go to the bloomberg first word news. viviana: in the u.k., theresa may's attempt to break the brexit deadlock has faltered. she is refusing to give up her red lines to compromise. she will not agree to jeremy corbyn's demands. she rolled the possibility of a no deal brexit. she is standing firm. nancy pelosi not visit u.s. troops in afghanistan. an hour or so before she and a congressional delegation were scheduled to leave, president trump told her she could not use military planes because of the partial government shutdown. after pelosiday suggested he postpone his state of the union. steven mnuchin reportedly wants to roll back tariffs on china. robert lighthizer has reservations about the idea. this report moved markets. the treasury department denies it. china warning canada other welby there willn -- we -- be repercussions if huawei is banned from the network. they say there is no evidence huawei represents a n