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tv   MONEY With Melissa Francis  FOX Business  January 5, 2015 2:00pm-3:01pm EST

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reward. melissa francis is here. happy belated to you. melissa: to you too. the rough start for stocks right now as the dow is down 300 points as oil sinks below a 50 bucks a barrel. the al sharpton shakedown big corporations shelling out for his influence or silence. new reports how it is going on for years. temperatures will reach zero degrees. temperatures expected for much of the nation. we'll tell you who has it the worst. surviving the boardroom. following an impressive debut on the season premier of "the apprentice.." even when they say it's not it is always about money. melissa: first we have to start off with the selloff on wall street. oil prices tagging down the markets. crude down another two bucks even breaking below 50 at one
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point. see how stocks are trading. that news weighing heavily on stocks. the dow is down 300 points. the panel is standing by. i want to bring in chad morganlander of still nick loss on the phone, stiffle nicolaus. people say that the global economy is slowing. what is your take? >> we believe there is deceleration of global growth although 2015 will be of course positive here in the united states but over the weekend we did see political instability within the eurozone, which pretty much kicked off the selling pressure in the euro equity markets and then followed by a downward pressure within the oil market. that is what is causing this dislocation within the market in the short run. melissa: so you obviously think it continues? >> we do. we believe oil will continue to sell off. we do believe investors should perhaps move up the quality spectrum. we think for 2015 you will get
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positive returns within the u.s. equity markets. so you do want to be invested and what we did over the last month 1/2 we did move from overweight equity exposure within our portfolios to more of a neutral weight. melissa: all right. chad thanks so much. let's bring in our panel. dan henninger of "the wall street journal," terry sheffield, force political contributor and geraldo rivera, "geraldo at large." what is your take? markets are going down. maybe now is the time to take your profits? >> i think it would be. people are nervous understandably so. a day like this shows how fragile this market it and has been really l the problem is you have slowing growth in europe, slowing growth in china and the problem is that the europeans have not really addressed the structural weaknesses in their economies. melissa: no, not at all. >> they haven't at all. they have been drifting along kind of hoping that the european central bank makes it happen for
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them failure of greece failing to pull off an election, suggesting that greece may have problems paying off its debts you have problems like this adding in the price of oil as well. melissa: right. >> i think the fact that europe has not restructured its economy suggests this is going to be a long-term problem for 2015. melissa: makes a lost sense of the meantime back to work in washington including president obama. he returns from vacation to face a gop-led congress in a new round of battles over many of the same old fights. carrie, what did you think this of one? what does he face now? what does it mean for the rest of us? >> top of the ticket, keystone pipeline coming down the pike. president threatened to veto. most haver? able democrats were shifted out during the election. i think it is possible republicans can get enough for veto-proof majority for keystone. melissa: geraldo first time in history people list political dysfunction as their key point of grief out there beyond the economy and everything else s that surprising to you?
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do you believe that? political dysfunction can be good. they're not doing anything harmful. >> silver lining, if i may melissa, they're not listening the economy as number one problem. melissa: number two. >> still an improvement. i think first of all to dan's point i think bears have been wrong right along. think they're wrong about this time. to carrie's point keystone pipeline with gas at 1.50 a gallon will we push the tar sands, gunkky. >> which state department is fine. >> i have no problem with. that the economic impetus is deflated -- melissa: energy i covered a long time. goes up and down. at this point in time it is never lower. it is not permanent thing. >> you mentioned up and down, i wonder how much the evil traders have to do with volatility. >> i don't know, we were talking about etfs are actually on the
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rise. as far as traders, making off like bandits etfs are up and up. i think we'll see more and more automation not just in finance but across the entire economy. melissa: like we said, the first order of business for senate republican is the keystone pipeline. republicans are pitching the bill as a plan to create more jobs. the third ranking senate democrat takes issue with that. listen. >> our republican colleagues say this is a jobs bill but that's really not true at all. by most estimates it would create several thousand temporary construction jobs and only 35, 35 permanent jobs. melissa: i mean i love how everybody plays with those numbers. that ignores the idea that cheaper energy brings manufacturing back to this country. >> melissa this is the democrats position on keystone now that is only creates 35 permanent jobs. this is a laughable argument. this is a construction project right? construction projects end. and the jobs go elsewhere.
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meanwhile barack obama is going to be running around the country over next three days giving speeches for asking for spending on infrastructures, roads, bridges. those are construction jobs. that sort past our economy guys, that is a good point. >> only thing i wonder about is, schumer has proposed two he amendments. one is use u.s. steel in construction of pipeline of the not a bad idea although i'm not a protectionist per se. the other use the oil domestically. if the argument is you want to make sure we have flush domestic supply why are we putting a pipeline through to refineries to put on ships to go to china? why not have a law if it is north american crude, let it stay in north america? what is wrong with that. melissa: if they're paying a higher price overseas, don't they want to make that money? oil is fungible. it goes where it goes where there is demand. >> i agree and right now but if that is the case, i don't know from 101 economics i don't know, if indeed oil is regulated by
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supply and demand how do you figure in the summertime it was over 100 bucks a barrel and now under 50 bucks a barrel? did demand, really bottom fall out of demand that precipitously? i doubt it? melissa: no, there is tons of supply of we saw fracking and a lot of supply come on and saw a lot of deman go down, at the same time, geraldo made a great point, that now is tough time to argue for the pipeline when oil is dipping below 50. the time something bad on these gizmo that's a fair point but saudi arabia can't really do anything because of production here in the u.s. i think there is more in play than -- melissa: we should be celebrating. with. we achieved our goal. we didn't want to leave the middle east in charge of oil and our own future. we've now taken control of that. we created our own supply. shouldn't we continue with that so we're not beholden to the middle east again? >> exports. president obama made completely unrealistic goal of doubling exports by within five years.
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hasn't happened. he could do that in oil. hesen his restrictions on exporting oil. >> if market forces really worked how come, for example right now car companies aren't exploding through the roof in terms of their stock prices? you have a big sv now you can an suv 50 feet long that gets one mile to the gallon. melissa: and watching tesla tank. on much lighter note the governor of new jersey likes the team from texas. catching heat for it again. this time awkward hug between chris christie and dallas cowboys owner jerry jones after a close win on sunday. wow. i don't know. i mean was most offended by sweater. >> you know, you got to ask what is going on here? arguably it is a pitch for nfl constituency. but a lot of people who watch the nfl are sitting out there say hog is that guy with jerry jones? yeah. people don't pay any attention to politics. >> my dog does that when i come home. gets on my leg like that.
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get off my leg. told your mother to walk you. melissa: taking aback. >> i agree with you though. all about money you said in intro. jerry jones is wealthy individual and republican donor. not just about the football. it is about the money. >> oh, my goodness. >> commentary on new york had to go to 2000 miles to a winning team. >> that is boys locker room. melissa: gets worse every time we look at it. let's stop. our own geraldo rivera is already in the spotlight. that is shocking! serving as project manager of vortex and taking home a big win last night but not without a little ribbing and show advisor and last year's winner piers morgan. take a listen. >> i couldn't help but notice on poster there are go pictures of you. are you suggesting not just the star but need at least two images? >> if i thought that it would sell more pies, i would have put
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three pictures of myself. melissa: was that piers morgan schooling you on humility? >> that classic irony right there? he was actually, he can be a very -- melissa: lovely, is that what you were going to say? >> number they to the after me for putting two pictures of myself on the banner. i had nothing to do with the banner. we made 280,000 for very good charity. melissa: i love you drove home team vortex and nobody on the team want name and didn't back away and you kind of rammed it through. that is fantastic. >> that is way life is. can only be one alpha male. melissa: who is absolute person on the team? >> the one that liked me the least i could put it that way was definitely kevin jonas. he was my teammate and we were victor rushes and my goodness, he was like, i expected him to start criticizing the shine on my shoes at one point. you know, give me a break. we raised more than twice as
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much money than the women's team. i raised 150,000 on my own which was well more than the women's team raised totally. it was a wonderful wonderful event. melissa: who cheated? did anyone cheat? give us dirty details. >> no one cheated yet but we did show anything is possible. the blood has barely begun to flow and ratings were through the roof. >> did you ask donald if he is going to run. >> asked us if we should. we said yes, of course. melissa: obviously, he is a judge, come on. >> one thing about donald running or making all these suggestions that he is going to run, he has to do it now. you know, it is enough teasing. remember last year he would run for governor and going to run for president and time before that and time before that. at some point you have to put up or shut up. >> thank god -- melissa: there is no point which donald trump shuts up. come on. >> he can't do the birth certificate anymore. that was ridiculous. melissa: got to go. thanks guys. that was a lot of fun. new frontier for spacex.
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elon musk and company prepared to go where no rocket has gone before. al sharpton is under fire yet again. how companies are paying for silence of one of the country's most controversial activists. coming up. ♪
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melissa: take a look at the dow. we're staying on top of this all hour. we're sitting near the lows of the session down 326 points, led lower by breakdown in oil. also news out of greece, keeping a close eye on that. new york city police reportedly made an arrest in the fatal shooting of a hedge fund founder. officials say thomas gilbert jr. is in custody after allegedly killing his father, thomas gilbert sr. inside of his manhattan apartment. police say he was shot during a violent encounter and was pronounced dead at scene. gilbert founded wainscott
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capital partners in 2011. it focuses on biotech and health care industrieses. buying the silence of al sharpton. a bombshell new report from the "new york post" exposes companies that are shelling out thousands of dollars to sharpton's national action network in exchange for reverend's influence or more often his silence. here is peter flaherty, president of the national legal and policy center. thank you so much for joining us. i want to jump right to it. so the post did an intense investigation and what they found was a pattern of situations where al sharpton's group went ahead trying to solicit money for their group. they were refused. then they went out and picket ad company and protested against them. they went back and later received money and stopped picketing. they cite numbers of companies where this happened including general motors. somebody on your staff worked very hard on the book for a long time documenting the same thing. so must come as no surprise to see this report in the post.
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does it match what you've seen? >> no, it basically confirms what we're saying for year that corporate ceos are caving into sharpton needlessly. sharpton has been riding high in recent years but with the assassination of two police officers in new york, i think everything has changed. we're making a very direct appeal to corporate america especially walmart which is the biggest and most prominent company supporting sharpton, to instead support law enforcement in the working men and women who keep us safe as police officers and stop their support for al sharpton. melissa: you highlight walmart in particular and you have reached out to them and said to them they need to stop giving him money. what has their response been? >> i even raised the issue at the annual meeting in arkansas but the basically not responded but i think what the cop killings it's a whole different situation now and their support for al sharpton is untenable. doug mcmilan is the ceo of
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walmart and if there is any such thing as corporate social responsibility, walmart has got to stop writing checks to al sharpton. melissa: what is the path for walmart? walmart is a company so routinely targeted by labor you know, by folks trying to unionize. so much like mcdonald's. they're a company very much a tar the governor pickets outside. has al sharpton spared them as a result of their money that is what the "new york post" focused on? >> i think so. in fact in 2007 the ceo at that time, lee scott said al sharpton, you can sit down with him you can deal with him. he is a wonderful person. whatever i think they were preemptively buying al's silence and cooperation and of course that was followed with a monetary contribution. melissa: there are other situations. i mean pepsico is another company where al sharpton was put on an advisory board for a number of, for a while. and then they were eventually
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pressured to take him off. tell me more about the pepsi situation, yeah. >> i went to the pepsico annual meeting and complained about this i raised the matter in a private meeting with pepsi's ceo indra knew which before the meeting and next year sharpton was dropped with the african-american advisory board. that was a bump in the road. they continued their support for sharpton. in recent years sharpton's prominence increased not decreased, when barack obama became president it was a great boon for sharpton and aplot of companies thought they were buying access to the white house. melissa: your group is the national legal and policy center and you've been pursuing this for a long time. what has the response been? >> sharpton called us right-wingers and racists and usual things he calls people he doesn't like but i think you know comes down to credibility. sharpton's credibility has now
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seeped away and there is nothing left. it is time for corporate america to do the right thing. it is never too late to do the right thing and we're hoping that walmart will lead the way by stopping their support for this demagogue. melissa: what is the difference between him being advisor if he were here he would say that you know, when they pay him money he comes on and tells him how to treat his constituents better and valuable service he is providing and shakedown artist. what is the line? >> who is his constituents? who anointed al sharptoned leader of african-americans in this country? it was regrettable, president obama, first african-american president, outsourced race relations to al sharp ton and greatly increasing his leverage and power. who is the heck is al sharpton? there are many other important voices in the african-american community. sharpton sucked out the okay again when they speak out. one result of the dreadful
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situation in new york i hope other voices will emerge and start to be recognized by the media. melissa: thanks for coming on. appreciate your time. >> thank you melissa. melissa: tell me what you think. i want to hear from all of you on this one. follow me on twitter@melissa francis and facebook. com/melissa francis fox. another year and round of red tape. the obama administration set to release thousands of new regulations on american business. plus you never even heard this word just got added to the dictionary. got to be some kind of a requirement, right? here is the clue. has to do with your life-style at work. more "money" coming up. ♪
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melissa: bracing for impact. american businesses prepare for more than 2,000 new regulations. fox business's rich edson with the details. rich? >> the obama administration is finalizing host of rules governing financial markets. they say the rules will cost them and economy billions. the white house is defending the actions claiming they will save billions in health costs and avert changes to the climate. incoming senate majority leader, the new gop congress will use their authority to change or eliminate rules. >> we need to do everything we can to rein in the regulatory onslaught which is the principle reason we haven't had the kind of bounce back after the 2008 recession that you would expect. >> the most contentious and consequential rule capping carbon emissions from power plants. the environmental protection agency is finalizing rules to regulate smaller rivers, streams and wetlands. the department of stance pourtation is setting standards for railcars carrying oil. the food and drug administration
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is writing new rules for food production and packaging. the securities & exchange commission is requiring some companies to reveal how much their chief executive makes compared to other employees. melissa, back to you. melissa: thank goodness. rich thanks so much. bring in our panel for reaction. carrie and dan are back with us. why does this matter? why should people at home care about regulations on ceos and companies? why does it matter it. >> it matters because it affects the price of goods. to put this in context bush administration passed annually 4,000 rules. last year the obama administration is passed 3500 rules. the difference with obama is much more expansive. much more of a power grab than his predecessors. that is concerning for our economy and freedoms. >> to just extend carrie's point, once you do things like environmental regulations if they go through, very hard to reduce them, melissa. the next administration may want to you about it is not easy once a regulation becomes part of the federal statutes to turn it
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around. that is why mitch mcconnell is talking about trying to address this at congressional level immediately to push back against epa extending its authority over the wetlands. the ozone regulations estimated could cost 4 billion and $15 billion. that is a lot of money. the administration say it reduces health costs that is distributed over the long term if it is true. these costs come right now and hit the economy immediately. melissa: a lot of people don't realize you may or may not agree with what they're trying to achieve. even if you do it is increasing the cost of what you buy because anytime a business has to go through more rules or adjust in many ways, it increases cost they will pass that along. that is the nature of the beast. the price goes up. unless you pass another regulation, price fixing. as far as i know that sill legal. >> that is absolutely true. the question, whether obama he wants to make us more like europe. do we want to be more european in our identity or stick to lower government, less regulation, more freedom.
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at the republican can guess we'll see what happens. they go into session tomorrow. we'll see if boehner retains his leadership. i think he is in good position. hopefully they beat back the beast. melissa: thanks, nice. so we're -- guys. we're keeping eye on markets. we'll take you live to the trading floor to see what sieve doing the nosedive. the latest organization using twitter to recruit new hires. it is isis. how terrorists are taking full advantage of the public media platform. "piles of money" coming right copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble
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melissa: stocks deep in negative territory as oil prices break below 50 bucks a barrel. new concern that greece may exit the -- for more on this one. scott, what is the biggest driver today? >> i think one of the biggest drivers today obviously is the oil price. also what the ecb may or may not do making their
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currency weaker by flooding the market with euros to prop up their economy. they'll make the dollar even stronger, killing our exports. a third of the jobs since 2008 have been our own oil industry here. that's not looked good. deflation happening. caterpillar they're getting hit hard. a lot of headwinds. wouldn't it be surprising to see $75 billion to go back into consumer pockets because of the cheaper gas prices and still have the economy take a nose dive. that's the one thing the fed is the most worried about. melissa: it would be surprising. a lot of folks say that math doesn't work. that we're getting such a tremendous discount from these lower energy prices. we're not taking that into account scott. what do you think? >> no. we're robbing peter four times to pay paul once. yes, your gas prices will be cheaper. but at the end of the day, your 401(k) will be cheaper. the stock market will
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come off. a lot of the stocks have energy in them. you'll be losing a lot more money in the market then you will be gaining at the gas pump. that's the simple skinny. melissa: i don't know. you're talking about people who are invested. not everyone who is invested. a lot of folks who benefit from lower oil prices are not invested. i hear the -- the argument. folks are on your side. as global tensions escalate, terrorists are trying to find new ways to sneak pass our radar. al-qaeda is boasting about finally finishing what they call an undetectable bomb. also bragging about new ways to sneak past our predatory bomb. peter brookes is a senior fellow at the heritage foundation. they both join me now. colonel, let me start with you. they've been talking
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about an undetectable bomb. one with no metal parts. do you believe that exists right now? >> absolutely, melissa. no question about it. i'm sure we could develop one ourself if we wanted to. look there's all kinds of plastics that are resilient. this is one of the reasons we've been concerned about big bottles of liquid going on airplanes. some other chemical you could ignite with a match. many ways they could do it. i would say -- i'm sure peter would agree. undetectable bombs aren't way out in the future. they're present. melissa: then why are we worried about this now? they were talking in "inspire" magazine to ramp up al-qaeda followers. they're simple to make. it sounds like this isn't new information. >> yeah, but not everyone can build these. maybe al-qaeda can which is famous for printer
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car trij bombs. underwear bombs. things along this line. you still have to get one on an aircraft. they're appealing to lone wolves. what we've seen in canada and new york city in recent months should alarm us. like i said, they have the master bomb maker al-qaeda, but not everyone could put together one of these bombs in their kitchen even though they're encouraging people to do so. melissa: they're talking about hiding from drones by putting things over themselves that looks like tinfoil in order so the heat of your body is not detected bay a by a drone. do you believe that. >> absolutely. we use the same infrared things. there are things out there. what peter just said, we're looking at bombs for lone wolves. those who don't have to go through security like the boston bombers. they're out there. that's the problem we
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have. is teaching people how to make bombs that have a bomb they can use. >> isis is right out there in the open. terrorists now apparently taking to twitter in order to find new hires. a tweet from the suspended account reportedly advertising open positions for hackers, programmers audio engineers and 3-d artists. it seems to me, if you're advertising on twitter for job openings that you're pretty traceable no? >> yeah. i think it's difficult. it's hard to attribute. we need to understand that isis say cyber superpower. they find new foot soldiers. funders, other followers. they've gathered at least 15,000 foreign fighters which is only part of their entire size of the isis/islamic state army. they're successful. and i'm not sure about
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these twitter that we've seen, how legitimate they are. but they want people that can help them put out of these propaganda videos. they're having a lot of success with it unfortunately recruiting people to come to their side and cause. >> bill, do you agree with that? >> absolutely. we tend to think isis as a terrorist organization. in fact, it's an entity that's running in -- governing an area of thousands of square miles. upwards of 14,000 people. it's far beyond a threat. it's people that manage a lot of people. they're looking for new people just like any other employer. melissa: gentlemen, thank you. giving the polar vortex a run for its money. an arctic blast with temperatures dropping 30 degrees below normal. you'll find them in the club. the book club that is. zuckerberg channeling his inner oprah with
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reading. piles of money coming up.
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melissa: i'm melissa francis with your fox business briefing. the auto industry ended 2014 on the high note with stronger than expected sales in december. demand for new cars jumped as gas prices fell. automakers rolled out their holiday promotions. full year sales are expected to finish over 16 million vehicles. that is the most in eight years. huge number.
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mark zuckerberg taking inspiration from oprah winfrey by setting up a book club. he wants to read a new book every two weeks. he has invited his followers to join him. his first pick has sold out on amazon. and the oxford dictionary now speaking the language of workaholics everywhere. it's added the term al desko to its vocabulary. to eat lunch at your desk. there you go. that's the latest from the fox business network, giving you the power to prosper.
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melissa: steep losses across-the-board for stocks. let's go to nicole petallides on the floor of new york stock exchange. wow, brutal today. >> yes absolutely. right now the dow is down close to 320 points. not too far off session lows. much like what we're seeing for the s&p s&p 500 and the nasdaq down 1.6 percent. the selling, energy names, financial names have come under pressure. we've been seeing selling across-the-board. caterpillar, the strong us dollar, it hit a nine-year high. and that's one of the reasons why you're seeing caterpillar under pressure because they do so much business overseas. coupled with a down rate. concerned with oil and less of it, less interest in it, they won't be getting the
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orders and the like. double whammy for caterpillar. back to you. melissa: thank you so much. a few stories on our radar right now. jury selection underway for the surviving suspect of the boston marathon bombing. federal prosecutors and attorneys have failed to reach a plea agreement, meaning the suspect still faces the death penalty. the st. louis rams have the city of angels in their sights. the owner of the nfl team plans to build an 80,000 feet stadium in inglewood, california. which is the former home of the la lakers. the city hasn't had an nfl team in over two decades. the party is over for the new jersey housewife. she arrived at a connecticut prison shortly after 3:00 a.m. starts the 15 month sentence for fraud. an extreme weather alert. the koldz weather is barreling across the country.
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air masses bringing temperatures way below average. take a look at the numbers. with the wind chill it feels like 15 below in minneapolis. sixteen below in chicago, which is where we find fox news brave mike. mike i feel for you. it was freezing and snowing, they sent me out into the thick of it. i'm in the studio now. how is it now where you are? >> must be nice to be an anchor. they still send us out. it's better now because the temperature -- the wind chill advisory has lifted. and it raised to a balmy 1 degree. the wind starts blowing it feels much worse. the city of chicago it looks like the city leaders have a handle on the snow. mayor emmanuel put every truck out on the street. he wants them back on the street later today when another round of snow is expected to come. the good news, it will
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hit after rush hour. people in chicago are lucky. most of them will be home before it hits. in minnesota it's so cold, it's too cold to ski. the ski resort shut down with a temperature of negative 22. wind chill of negative 35. we're talking about places that are used to the snow. how about amrill a,texas. a couple of inches of snow. couldn't handle it. cars wrecked. new mexico. couple of days of snow. the crews got a handle on the snow coming down on the main streets. didn't handle the side streets. people in the rural parts of mexico having a hard time getting a hold of fuel and water. elsewhere, some schools in iowa closing down do youdueto the weather. schools in wisconsin starting late. and as we look at the temperatures forming up overnight. we're seeing them go deep into the double
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digits with the wind chill factor. highest is negative 45 predicted overnight. melissa. melissa: you're a brave man. thank you so much for that report. i want to bring you back to the markets right now. we just took another steep leg down. we are down 339 as oil settles at 50.04. that's the lowest since april of 2009. markets big sell-off. heading into the last hour let's check in with adam shapiro to see what's coming up. you have a big show. adam: we do. we'll be concentrating on this sell-off. s&p down 2%. could we be nearing at least a temporary bottom? all ten s&p 500 sectors have sold into the negative for the third time in four sessions. so we'll ask our guests if there is an end in sight. what happens to people in our 401(k)s especially if we do index funds. see the front page of the wall street journal today. so much for the index funds. we're watching our
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retirement go south. we'll talk about the news that shocked everybody in manhattan across the financial world. the murder of wainscot capital. no charges yet. we will get in on this action and tell you what's going on there. we'll be following the sell-off. a lot of people concerned about this. big money and small money. melissa: thank you so much. (?) some states may have seen snow this weekend but that doesn't mean that they are going cold on frozen yogurt. one company keeping the spark of frozen treats alive no matter how cold it is. abandon ship. one cargo ship that couldn't get it straight. you can never have too much money. ♪
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melissa: from the u.s. every corner of the globe money is flying around the globe. starting in the uk where a cargo ship has been grounded after it started tipping to one side. the 51,000-ton vessel had just left the port when things started to lean just a little bit. all the crew were rescued. they left behind 1400 expensive cars. including jaguars. that's no good. the president of venezuela is running to china to fix his ailing economy. national coughers have dried up since oil prices have fallen. he's hoping china will give him cash up front for all future crude and oil. a hedge fund boss has disappeared along with all the of the cash. the founder of black field capital, which had ambitious plans to move to the us vanished
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sometime last year with around 20 million bucks. it was taken out of the accounts. 29-year-old has not been accused of wrongdoing. employees at home starting to wonder if they'll ever get paid. as the country braces for an arctic blast. no one is exactly screaming for ice cream. (?) one seasonal business has a few tricks to get you in the door. i spoke with solomon founder and ceo of frozen yogurt chain 16 handles. you guys are everywhere. you're elsewhere as well. right? >> we have 43 stores in six states and we're growing. melissa: you go in and get to grab the handles and make your own yogurt. a lot of people have knocked you off. how do you deal with that? a lot of pop-up yogurt stores have that straight up copied you. >> we were the first movers when it came to offering self-serve sundayase. we've renovated our brand when it comes to
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renovations like fro i don't hot cocoa. it's by combining our fudge brownie and vanilla into something people are used to. melissa: the cupcake bubble, crumbs the company that went public and now shuttered. when you focus on one product in particular, it can be tough especially when it's not your season. do you worry about that? >> so he will not we're faced with every season. yes. >> what about a targeted specific product. the rest of the year i'm not stopping in. >> we need to come up with products that are like-minded. that we need to focus on fun and individuality. melissa: what else? you're doing a hot cocoa? >> we have a hot cocoa program that's launched. utilizing our frozen yogurt base. we're working on something for our breakfast hours with better for you options.
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(?) melissa: like what. >> hot oatmeal. fresh yogurt. just fun interactive experience. melissa: is there a best-selling yogurt in the winter months? is there something that does well? >> the classic favorites like the vanilla bean will still be number one. the peppermint candy will drive in traffic. melissa: delicious. another look at the markets. the dow just a few points of being down 350 points. the low of the session down 342. very rough day on wall street. x marks the spot for spacex. the highlight isn't in space. back here on earth. see why it describes tomorrow's landing as quote, trying to balance a rubber broomstick on your hand in the middle of a broom storm. sounds simple? at the end of the day it's all about money.
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melissa: what goes up must come down. that's what they were hoping for at spacex. company faces its biggest challenge as it tries to land a rocket on a drone platform a mission so difficult that even founder elon musk has said that he has his doubts about achieving this. our all-stars are here with more. joe, this is amazing. >> they have to have the accuracy within 33 feet to catch this as it comes down. it will launch tomorrow morning. deliver scientists food and water. then when it comes down, they'll use a gps to try and land it. that's a really difficult thing. they gave it like a six-mile radius. they're talking about a matter of feet. the goal is to really establish the useful beness of these reusable rockets. it will cut the costs by
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100 times. >> it's a great idea. melissa: i like the analogy. trying to balance a rubber broomstick in the middle of a windstorm. i'm not sure i've tried that. but basically he's saying ahead of time this is really difficult. if we don't do it, we don't consider it a fail. even if it doesn't make it -- >> they already tested this twice. they rescheduled this test from earlier last month to tomorrow. and don't forget, you know, wvu the you have the space travel exploration -- this is working towards going to mars. landing on mars. the attempt with spacex is to do the space tourism. there is a deadly accident late last year. there was another one with orbital sciences that was a disaster. this is dicey stuff. melissa: you'll be watching tomorrow? >> i will. after 6:00 a.m. melissa: thank you. i'll get another look at the markets.
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dow hovering around session lows. the dow is down 350 points. that's the steepest drop in a year and a half. oil to blame. closing at 50.04. a lot to watch. i'll turn over to adam shapiro. adam: thank you very much. we can call it a new year's hangover. or just plane call it a sell-off. the dow flirting with its steepest point drop in a year and a half. the s&p 500 is also down big time almost 2%, if it diminishes the day in negative territory. by all suspicions, it probably will, this could be the longest losing streak in more than a year. also oil it dipped below $50 a barrel for the first time since april 2009. it's bringing energy prices down along with it. we'll look at what this means fort us economy in just a minute. and lower oil prices mean cheaper gas prices and americans are certainly putting their


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