tv After the Bell FOX Business January 12, 2017 4:00pm-5:01pm EST
the closing bell the streak is over the markets are closing lower but while off the bottom. here is a closing bell on this thursday. >> the trump rally hitting a speedbump. the dow ends while off the lows. it had been down hundred and 83 points. but they're also settling in the red. this is the first down day for the nasdaq in the entire year. we have you covered on all of the big market movers. a mad dog and neurosurgeon a blackout it's another busy day on capitol hill. the senate holding three major hearings today to confirm the nominees for defense, the cia and hud. the process you rebuild obama
care. and now it's on to the house. but will it stall there. some republicans are concerned. i'm a justice department is launching a formal investigation into the actions leading up to the election we have team coverage bringing us the latest details on all of this and more. >> it is slipping. with all but seven stocks. lori on the floor of the new york stock exchange. what was dragging at the markets today. >> they led the way right after the election. this nervousness because some of the big financials to report earnings tomorrow morning before the opening bell. these are financial components. there down about 1%. all losing ground today.
that arrow is read nonetheless. perhaps the trump rally has gone too far too fast. they are more bearish. giving you the option to sell a stock and then obviously the indication that it is savoring the downside there. they are down 10%. we will keep an eye on the investigation. amazon they have just become of the latest company to have plans to add a lot more jobs to some of its warehouses. about 1.8 percent. elect trump. back to you. here is a look at oil coming -- climbing for the second straight day. it could've ended a lot higher had it not been for the weekly
individual rate report. check it out. so ithpresident elected trump gets the credit for the historic market rally since election should he also take the blame for the current market stall. ceo of 32 advisors. and jerrod leavy of a profitable trading.com. does trump have to take some of the blame bad martin -- bad mouthing the farmer. >> i think was about two or three weeks ago that i said i thought the market was getting a little bit ahead of itself. there was an irrational exuberance going on. i think you are starting to see that pause. it is still up close to 2000 points since election day. that has been a pretty good run up when donald trump badmouth a company or says he
wants to disrupt a merger that has a negative effect on the market. to some extent. we haven't passed a single policy yet. jared, we did see if you follow the tick-tock of what happened it really did track with what trump was saying. when he speaks i don't know if he fully understands how anything he says is we have a very close is going to affect things whether they are stocks or whatever. >> i do believe that he needs to rein in the tweets a little bit. his word is very powerful and remember even though legally he may not have the power to influence the company individually that tweet alone has a lot of effect on the way the masses feel. bring in on those.
he has to be on top of it. and it could be a danger to him. >> he also has a very serious people in his cabinet people who are going to advise him in daily meetings and presumably they will not put a stop to the tweets but they could moderate his tone a bit. >> the stimulus they're talking about is gonna take a while. the idea that we've have a run-up because of the stimulus that may not come until the end of 17th and 18 i think like your prior guest said it's come a little too quickly. were in an environment of rising rates in dollar and a bit of trade protectionism which could obviously slow growth. i think were in a situation we just don't know. to wait to see the policy that he implements ansi how fast
like tax reform gets done. my hope is that you see a steady pace of growth but we don't know what that will be. >> the first step to dismantling obama care. they will repeal parts of the signature health care law. peter barnes is standing by in washington with the details on this one. >> they plan to vote on friday on starting the process of repealing and replacing obama care. in the house after the senate took the first step early this morning on a party line vote the senate approved resident lucian for 2018 which creates an outline for the next budget. they will instruct the committees.
by changes in policy including healthcare roles. that is how they get to repealing or replacing obama care through that vehicle. the president-elect declared yesterday that they will repeal and replace it simultaneously. that is what he is planning. i spoke with president-elect trump in the last two days on this. we are in complete sink ryan said he likes to run a bottom-up process in the house. meaning that he must committees to do the heavy lifting to try to get consensus around legislation and try to get support for it. replacing obama care may involve more than one bill in fact and we should note under republicans they have already voted numerous times written by its committees so there should not be a next or an extra ton of work involved in this. we will see. let's bring our panel back in to discuss more about this. steve, he said repeal and
replace in one motion. there has already been a lot of work done on the other side the talking point from democrats is always they want to rip it away. what is the truth do you think. >> i think republicans are in full agreement about repeal i'm not sure they are in full agreement about what to replace it with. personally i think they're making this way to come look at it. the features of obama care and i have really have a negative effect include the tax increases the mandated benefit package some of the labor laws. then move forward with someone thing that expands the amount of competition things like what president-elect trump is talking about with respect to allowing people to buy health insurance across straight lines. that would solve 80 to 90% of the prom.
>> they have a pretty radio's total restructure the health insurance is a and that gets comp located in by the way that vote that happened yesterday is a very indicative one of what republicans are facing. i believe that not a single democrat in the senate voted for that budget resolution that gives you an indication that it will be a fiercely partisan battle in the weeks ahead. the healthcare stocks were trading higher. what does that tell you. what do you read into that. i kind of agree there. the reconciliation vote dismantle a portion of the act. and take away some of that mandates. this can allow the healthcare companies now to cross state lines potentially. and bring in consumers that are stuck to buy obama care. it has already screwed itself.
my doctors didn't even take obama care. they don't take any plans through the marketplace. the process is there. once i make that legal and once they streamline it it opens up a lot of revenue source for those insurers. >> that make sense. i don't know any doctors who take obama care. i was talking to a dr. the other day who assayed what we can do about these people who had it. we don't take it. it's interesting. if you call that the affordable care act majority of the country is supportive of it. it tells you how political it is. secondly i agree with steve. there are 20 million people uninsured that are now insured. the pre-existing conditions are incredibly important for this country. the medical benefits of lifetime benefits a lifetime benefits everybody is pretty much supportive on that. the prescription drug affect
it has by covering the donut hole. i would agree with c. we should be integrating the affordable care act and making sure it seems illogical. the only thing i would say is the eight years of bush. it was 80%. the eight years of obama inflation was 30%. we kw that the inflation rates improving but it's nowhere near where we need to be. we need to lower costs and an absolute term. i think there are things that could be done. and pretty much aligned with most of what steve said. fresh concerns over the media maker merger. they refused to take a question jim acosta at his press conference. >> since you are attacking our news source. can you give us a chance.
can you give us a chance. can you give it that. can you give us a question. i'm not can to give you a question. >> claiming today on twitter insane cnn is in the total meltdown with their fakeness because their ratings our tanking's since the election and their credibility will soon be gone. this is randall stephenson. he took a meeting with president-elect at trump tower. here's the key question. do you think that trumps intimacy towards cnn is going to affect his justice department's dealings with this potential merger. >> i don't think so. this is under the sherman act. as you know. it's can go to antitrust. and it's in a state with the department of justice who although they are part of the executive aspect of washington they really truly act
independently. and then i will go with the fcc. they will have a vote. although trump has tweeted out a different companies president-elect trump. in picking some winning and losing. i think this will go through normal process come january. that is coming from a democrat. what about this note that at&t put out and they will put up the whole know note itself. but the relevant sense of this. the proposed merger with time warner was not a topic of discussion today. do you believe that. >> i wasn't in the room so i can't say. you know me for a long time. i can't think of any area and the economy where we need antitrust protection less than in the media. everybody is a media outlet right now. the idea that this merger is going to cause a monopoly i
don't think this can happen. >> you are disagreeing with trump. there are some things i disagree with him on. they disagree with him on certain points. frankly he knows i disagree with them. powerful people who disagree with his position that shows a certain amount of confidence. i was just in the same. i do think the merger will go through. i think has effect on the legality of the merger as stated earlier is kind of minimal. but again there is the media power that he has they could potentially carveout cnn. breaking his right now. president obama honoring his vice president at the white house. a big surprise. awarding him the presidential medal of freedom. for the final time as
president i'm pleased to award our nation's highest civilian honor the presidential medal of freedom. [applause]. he just had his handkerchief ready there. what an emotional event. both of them are very emotional day. is the highest honor a civilian can recve. the ghost soldiers of afghanistan may sound like a war movie horror movie plot but these military personnel don't exist. the scariest thing about this is how much we waste in taxes to pay for a nonexisting group of soldiers. the house republicans now working on their part in repealing obama care. everybody is on board. that is where this man comes
in. more on his role ahead of tomorrow's crucial vote. and the justice department watchdog is now launching a formal investigation and the fbi's actions leading up to the election. >> all of these things that he complained about during the campaign well not be the subject of a truly independent nonpartisan nonpolitical investigation from inside the doj. if a denture were to be put under a microscope, we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.
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he is standing by outside. god heard it was too cold out there. it's now 67 degrees. well had to cry for him being outside today. this is interesting breaking news. you're right. it doesn't come from here. at trump tower. the white house was quick to point out. the man you are referring to is independent. he wants to look into how the e-mail investigation was handled in specifically this is what he is looking at. number one. the department of justice in the fbi their actions leading up to the election. this is big picture remark regarding the probe. allegations that the deputy director should have been recused. you might remember that name. his wife have received nearly a million dollars from democrats. running for state senate. should have been recused. the assistant attorney general. nonpublic information.
those are allegations. those will be looked at. three other ones for you here. allegations that they discussed non- public information. how about the timing of the release of some of the documents. and some of the tweets as well. as to whether any of that was improper. it will be interesting to see where this goes. i will tell you that james comey the fbi director just put out a statement moments ago. i'm grateful to be inspector general for taking on this for view. the fbi well cooperate fully with him in his office and i hope very much he's able to share his conclusions and observations with the public because everybody will benefit from thoughtful evaluation. that is a statement. now her what's is an obama appointee. but he is expected to stay on their getting hit by both the republicans in the democrats. both of them say he should be
>> yet another busy day for the incoming trump administration. they are taking their turns in the hot seat. adam shapiro live with the latest every single day. this is not going to stop. >> the hot seat is not an understatement. most important the student actually -- the senate allowed the waiver. there were only 17 votes
against that the waiver is necessary as the u.s. law requires them to be a civilian for at least seven years in order to become the house is expected to vote on this waiver tomorrow. then it all starts over again. he told the committee that the u.s. armed forces must be the best lead in quipped and most lethal force in the world. if necessary something that he says he has discussed i had have discussions on the issue. even to the point of asking more questions and going deeper into the issue about why i feel so strongly. he understands where i stand. russia is kind of the uninvited guest to the party because the confirmation hearing the senators ask him
and he is the nominee to become cia tractor. and how the government should respond. >> it will inquire a robust american response as we get better at defending this and that holds actors accountable commit these kind of actions against the united states of america. dr. ben carson he too was grilled today on capitol hill. all three of these nominees are expected to be confirmed. >> in an unbelievably ridiculous question. within this hour. adam, thank you very much. james mattis issuing a warning during his senate confirmation hearing about the established world. >> do you believe that that
world order is now under more strained than it's ever been. >> i think it's the biggest attacked since world war ii. and what china is doing in the south china sea. >> here now is rob o'neil. the former navy seal. what did you think of his assessment. it is a no-brainer. just to get the waiver from the time in the military. he was so smart to recognize that. it is when to take that in order to deter. there in there.
it's really dangerous. they would be able with strength from the pentagon through our allies that would put a big stoppage stop to russia. >> we're talking about isis. do they seem to agree with that. i've always been a big believer if you take out the capital in syria it was taken by turkish forces they will vanish into the desert for a while. when there really people over. they are getting that from isis. he's also smart enough to realize that the obama administration diminish al
qaeda. isis will stab you in the front. they recognize this as well. they had been hitting it. they are just spreading out into the rest of the world with a lot of strength. ideally in a place like that you want that. usually in the united states marine corps is good at solving problems like that. the cubs they are getting inspiration. what you think they're going to be like.
they need to be squashed by very strong coalition. >> we had smart breaking news. they are going to be cutting thousands of workers. we are going to be following it very closely overnight. >> footing the bill for nonexistent troops. it's open more between the mainstream media and donald trump. they are refusing to answer question in the cnn reporter. >> has his behavior was unbecoming disrespectful rude and inappropriate and unbecoming addressing the president-elect of the united states.
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investing the unverified reports. msnbc chuck todd took it one step further. grilling the editor for his decision. i know this is not your intent. but you just published fake news. check i think they love that is a real story about a real document. you made and knowing a decision here now is erick erickson. eric erickson. he is also a fox news reader. i'm glad that he have that interview. one of the things he said was
that he used his obama birth certificate as an example. now you have to engage it. thank aged they engaged the birth certificate issue. but he didn't engage in this memo. we're gonna let the internet decide if they think it is true or not. they have no business putting out this memo. not knowing what the sources. this was just ben smith. the clearing buzz feed is no longer a group of reporters but the resistance. >> if all of these other outlets out there that are media -ish, the difference between the big j journalism and then it will be other people that can do stuff online but then they kind of make it news.
there is every action. and that's where cnn comes in. not having said what was in it but talking about this report that's out there and brings just as much attention. what is it that were talking about. it was incredibly frustrating and is run. that debate was never had, not once about the clinton e-mails which were unverified in stolen they publish them and everything else. the debate should've been have about the e-mails. and now that is a standard. it had been provided to the president of the united states this is a fake e-mail.
we know that the clinton e-mails were true. we know that they withheld e-mails. i don't think the two things are the same at all. the clinton e-mail server unsecured was a story for someone running for president of the united states. and the business that didn't happen. i don't take it as a same thing. they are both illegitimate articles. >> i'm saying to everyone that at some point someday you will find out that many of those e-mails were indeed fake. the initial ones may have been true. nobody that anything and now everybody wants to bet everything.
it used to be up applied to propaganda and now it's applied to anything that people don't agree with. now he's calling it fake news. >> i think we know that because nobody in the cia and the government acted on it. they did not believe it to be real. thanks guys. we invented it and we didn't run it as we did that it. that much is true. i u.s. business under attack. l.l. bean is facing a boycott. now the president-elect is standing up for the company. why lawmakers are urging the dr. not to play favorites. hi my name is tom.
i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here. legal help is here. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis.
>> ben carson was in the hot seat for his housing secretary hearing and. and senator liz warren continued to press carson over the concern of money. they secretly were flowing in the president-elect's pocket. sure it is not 1 dollar will go to benefit either president elect or his family. >> it will not be my intention to do anything to benefit any it's for all americans. >> you can't assure us of
multimillion dollar fridays well not end up in the president-elect's pocket? >> when i asked our brain room whether he'd ever received any public housing money they laughed. they sent back and they did their due diligence and no money has ever entered into any trump enterprise at all. the cheapest trump apartment that i know around the world sells for about $10 million. what is elizabeth warren talking about? >> not only carson a lot of his unwillingness to separate. anybody with 2 cents of intelligence and she isn't intelligent woman but why
would she ask a dumb question like that. >> i don't think she would consider it dumb right now in these hearings. the base is a left of the democratic party. there is a conflict of interest. >> the key here is the fact that ben carson has no experience what i love about this country is when they put an outsider in their and i think of a guy like alfred kohn. he was an appointee of jimmy carter. he looked at his own agency and said this doesn't work. he killed the cab.
that's why i like outsiders. how about you? >> i think they hope that an outsider can do good. with that appointment. it's questionable by the only fact that he questioned his own ability. he is certainly easy using it to try to make the case. whether it will serve him well. it did not on the campaign trail. >> i don't like people that had experience hobnobbing with bureaucrats that's what has happened a lot of times. there is a legitimate concern from some aspects that donald trump has less people who have a prior government experience. that's my point as well. they broke the system so let's try the outsiders.
it was a local city council. there are better ways. one of the best things they ever did. i'm throwing bones to the both to the democratic party as well. it's blying me personally. the company that didn't give the donation. i gave it to a pact to support trump. we should have in that privilege. it's a free country. >> but there is another side of the story. thank you to linda been up l.l. of l.l. bean for your great support encourage people will support you even more now.
>> we will keep an eye out for that. i always liked that company. repeal obama care and provide relief to millions of americans it's all coming up next. i speak with david mcintosh sounding off on why congress needs to act now. >> we could watch the collapse of our healthcare system when i get to do that. we have a responsibility your insurance company
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they still have a lot of work to do. with the market driven progrowth plant. it's a necessary first step. i think there is a plan. and it comes from senator rand paul. he operated the details of it. it's very specific that he wants but money back in the pockets of the consumers of the healthcare. get it back to the insurers and give it back to the individuals. let them decide how they want to get their healthcare. the health savings accounts were families and they can decide how to pay for their doctors in the procedures that they need. president-elect trump has said nobody's going to lose their
insurance in senator paul's the democratic way of saying we can have a regulation that's can say everybody's insurance premium goes up if you are at high risk. at some other disease and that is expensive. we will set up the high risk pools in the marketplace can take care of everybody else. >> the main thing. it's not coincidental that he's a dr.. he understands the situation if you put as little distance between the patient and the care provider as possible and get rid of government and all of the insurers that you possibly can and just had the individual pay for his health care but the best health care possible. that's the bottom line.
and then governor pens. governor paid healthcare. advertisements by the hospital say if you come get an mri with me it is less expensive. why did you ask about the plan last sunday we haven't talked about it. i can't speak about it. it's easy to read. you can find it anywhere. the have of the senate should know. president-elect trump has said a few weeks after you confirm my secretary i want you to get a bill on my desk. it's not going to be a two or
three or four year bill writing process. there gonna need to read these great bills. >> in price has one as well. david is putting the feet to the fire on all of this. how your tax dollars are going to troops overseas. oo busy withe kids to get a repair estimate. i just snapped a photo and got an estimate in 24 hours. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance
. >> go soldiers are taking a toll on u.s. taxpayers, uncle sam paying the salaries of tens of thousands of people in afghanistan. they don't exist. according to a new report. >> ghost soldiers is when afghan military commanders fill their ranks with fictional ranks, exact figure are not known. estimated to $300 million to
unverified employees. you talk about waste in the military, as strong as trump wants to build the fences, there is so much waste that needs to be tackled. they don't pay attention to the money. >> i love the watchdog group does this and now this happens. >> here's "risk & reward." >> since your attacking us, you can give us a question. mr. president-elect. >> go ahead, go ahead. >> no, no, not you, not you. your organization. >> you are attacking our news organization, you can give us a chance to ask a question? >> no, no. go ahead. go ahead. don't are rude. >> you can give us a question? >> don't be rude. >> you can give us a question? >> i'm not going to give you a question. you are fake news. go ahead. liz: cnn and other media outlets blasting donald trump saying he's the one who's escalated war on the free press