continuing tomorrow night. our very own lou dobbs will bring you comfort. it is hitting all-time highs today. could that turnaround is fed raises rates again. making money with charles payne is next. charles: good evening. president-elect trump has yet to officially announce his pick for secretary of state but rex tillerson is at the top of the list now. >> he is much more than a business executive. he is a world-class player. he is in charge of the largest company in the world he is in charge of an oil company that has doubled the size of his next competitor. it's been a company that has been unbelievably managed.

>> they have some democrats even some republicans up in arms during his 41 year career. they close it for leaders around the world. he would need 51 votes they have a handful of senators. we are accustomed to some pushback from democrats but you have rubio, graham and mccain also far saying this might not be the guy. the president-elect has allowed the nominee who he thinks is can can be best for these positions knowing he actually hasn't nominated him yet. he deserves a free and fair hearing in the senate.

this initially i don't know a ton about him yet. in the press they been talking about. him and bolted as a deputy secretary. i think that will be an excellent pairing because john bolton knows how to run the office. he notes what it's like in the state department he knows how to effect real change. affect real change. that was encouraging for me. what does everyone think in oil ceo is going to do. well had to wait and see what he says on the help for himself. how would this be different. it's actually quite frustrating to me. what do you think he's gonna do of course is in a do business in russia. were talking about the largest

company in america. but ron, his life has been on display. it's a kind of things we typically applaud and then there is a diverse array of republicans who said this is the right guy. what do you make of this instant opposition within the republican party? >> i think a lot of it is rude to the fact that he has a relationship with vladimir putin . i think it's a good thing to have an experienced ceo who has a relationship with someone who has been taking a stick towards united states. he has significant business experience. he came right here after he graduated from college. he has conducted in negotiated multi- million-dollar deals as a sort of business experience that we need at the secretary

of state position. charles: donald trump promised to bring something different to his administration but i think so far the addition of a generals and ceos for me he is putting together a team that is getting things done. get the job done eclipse any hurdle. also meet strong deadlines. not the typical excuses that we've always gotten from politicians and yet there is some pushback on this particular pick. >> we all want results. the question he will have to go through is how close our his ties. i'm open to hearing him out. how close would that be. when you say something like that what would you be insinuating. i'm curious about why he received the medal of freedom from vladimir putin. he's been buddy buddy for business reasons that is understandable. i think it's important also in

addition to doing business in the experience he has to go into these meetings with other foreign leaders and make sure that women are treated equally and have those conversations. if you can do that and answer these questions i'm okay. >> i think you and i are there. if you deserve to have your day before the united states senate. i can pushback for human rights to make sure that a lot of the things that we been nervous about for the last several years that can be addressed. i think that these three republicans if they were to say no more than that this would be something of a public embarrassment. if they do become the official nominee he sails through the confirmation process.

>> i think the endorsement by the former secretary rice is going to go a long way. i think that is can help. remember that we went through this one present obama nominated chuck hagel. it was a really contentious hearing. in the first initial confirmation hearing but he ended up getting nominated and getting confirmed and getting through the process because ultimately the senators respected the fact that he would choose who he thought was best for the job. i don't think doing business in russia should disqualify him what matters really is what kind of posture and position will he take and ultimately this is about the president's policy. what type of stance as he can to take with russia and china with all of the people that have been adversarial to his excess. what we finally had now is a

world leader that people will respect. and quite friendly someone who frankly someone who has worked into embassies overseas i could tell you the place absolutely needs to be shaken up. >> i think what she's missing here is the air picking their battles and this is a battle they want to have. they actually are saying exxon mobil being this gigantic corporation is can have some skeletons in their closet they're going to be doing that. like the assumption that they knew about climate change. they will find anything that they can twist around. they will try to get some kind of question on president trump. it does a business all over the world and you may find a skeleton or two. but you might find achievement

and knowledge. this is the most significant post in the cabinet. let's leave it there. next one of his fiercest rivals. chris stewart tells us there is no evidence of a russian plot. he prepares his plan to help trump drain the swamp. at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence. sathis holiday season,or christmas. people have a lot to say about the chevy red tag sales event.

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literally reset things to reset the trajectory of this economy to reset the role of government to reset america's role in the world and how it's perceived and i think that's why he is getting such fantastic people in his administration. charles: carly. arena after meeting with donald trump today is the epicenter of transition. teeming with other candidate balls. we're talking about the former texas governor. one of the few elected officials. you were instrumental in helping a donald trump get elected i'm not sure what you know of the transition process itself but it's all on full display for the world to see.

that she talked about the sneaker and how they were both champions everybody wants to be on board don't they? >> carly fiorina was on the b team and she is a fighter. she has great experience she was one of the first candidates to talk about cyber security issues back in 2015. i dig if she's under consideration she would be a great choice. governor perry was one of the first people at least through our path that came out that talked about getting behind the momentum that is going on around the country. i think both are great leaders and they will be great choices if they are selected. charles: you have general flynn and rick perry is a live feed a. the epicenter of the transition team. a lot of people going back and forth right there a lot of lobbying in the lobby right

there. let's call him a blue dog democrat. so far donald trump does not have a democrat at least someone who is a elected democrat to the office. i think that either of them would be excellent energy secretaries though remember what he's gonna bring. the perspective of coal country and something that the obama hunted ideal of the world can wants to shut down. america and its greatest competitive advantage is the fact that we can be an energy superpower. it depends on if you think rex tillerson will get through. i think you might want to shift from oil and gas and start looking at coal. donald trump one because coal country is hacked off at the way business is currently being done.

it's there for the world to see. has been ridiculed by some. others are saying think how refreshing this is. we can see who is being considered and we can come up with their own thoughts. on one hand trump is a showman. this is what he likes to see. it offers the media a lot of transparency. and you can honestly take time. they might or might not pick. i think this is fabulous. at the end of the day he is helping america understand how he wants to form this government and how he wants to make america great again. >> do you think donald think donald trump wants people to take the trek through the lobby and then come back down. do you think he makes an assessment of the public reaction. he seems to be in tuned to what people are saying particularly, the media. >> i think of anything comes

to this is a fact that he wants to be more transparent than his predecessors. he's going through this process and he really does want just wants to do a good job on behalf of the american people they have business experience business experience they have military experience. he's going all the way through the spectrum of so many great candidates and that's on public display. for me it's about showing the american people that he he's he is can run a transparent government. >> there is always a back door to trump tower. this is about transparency and making people weigh in on who the president elect wants. >> i think it's a fantastic process. even if you're not selected you can tell your grandkids you wrote the golden elevators.

>> the trump shaved billions of dollars off the market to capital. chris stewart tells us whether the russians really did scheme to sway the presidential election. we also had house oversight committee he will unveil his plan to help him drain the swamp once and for all. liberty mutual stood with me when i was too busy with the kids to get a repair estimate. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! (sigh) i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance

>> another donald trump suite has it taking. he said spending on the f35 fire jet was out-of-control. the impact was immediate. you are the fighter jet pilot. you understand this better than most people.

it's another thing to talk about this is more like the premier fighter jet that we have. this is what the army the army on the ground is depending on them for. they have all bought into this. right now we have the marine corps in the air force were defined. it is a jet that unlike anything we've ever seen in the history of our world. it basically brings everything together i actually am one of the few people that got clearance to sit there. and i've seen how it's done that. the plane itself is 100 million. i got to sit in the cockpit

and saw how basically you can bring the sensors altogether so you have a situational awareness that's never been seen before for aviators when they go into combat. china has been making some pretty large strides and some folks are saying this is a plane that keeps us miles ahead. about a the bottom line is when people think of the comment that we've seen in close your supporters we have seen the a-10 do a great job. we've also been dealing with the threat that was very basic. in terms of air warfare. they don't have an air force they don't have a surface area threat. when you take something like this it can and will defeat countries like china and russia. i think that with donald trump this is the opening bid he is

basically scaring everyone saying you your head to clean up your work here. you are already hearing the program have seen we will decrease the cost by 60%. they are back on their hind if you well. one thing is we are accustomed to all of these military costs and they always cost more than they say they would. the contractors have gotten very comfortable with the notion of hey we will throw in a low bid. no one's ever gonna say anything. they want this project. >> congressmen say look, we want this to continue. we want to open. if we want to get any real meaningful reform here trump has to work with congress and say to fund the priorities that the things that keep people employed in your

district. >> donald trump has delayed the announcement of what he will do with his businesses. he had scheduled a news conference on this for thursday that will be pushed back into january a lot of critics say he can to be president of the united states and have businesses on all of these countries where your decisions may impact those local economies. also, what happens to the lockheed martin stock. donald trump is pushing back his decision or letting us know exactly how he will handle his businesses. >> here he is worried about the defense contractors at the president i think he's worried about paying too much money for this. he did mention how people in

the military move into positions in the major companies. the cost of these contracts it's not like it's all margin. it's for the changes that the military asks for. a lot of this has to do with the generals in the jobs donald trump wants to keeps job in this country. with a look at both sides. the fact of the matter is it's one of the most important projects for countering russia in this entire military. >> would you be a buyer of the stock lockheed martin. >> addictive it will be part of that fleet. this is the opening bid in negotiations. he is making a deal here. this plane is already taken off.

>> i'm old-school. that's all insane. raising the stakes for china. after donald trump rattles their nerves. the ball is back in trump's court. we will be right back. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75% skin clearance at 3 months. while the majority saw 90% clearance. do not use if you are allergic to cosentyx. before starting, you should be tested for tuberculosis. an increased risk of infections and lowered ability to fight them may occur... ...tell your doctor if you have an infection or symptoms... ...such as fever, sweats, chills, muscle aches or cough.

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charles: the trump transition source telling fox news donald trump is delaying an

announcement on his business plans until january. he previously scheduled a niewtss conference on this -- a news conference on this for thursday. the chinese flying a long-strange nuclear bomber over the pacific sea. they say they want to send a message to donald trump after he spoke with many taiwan. >> i understand the one china policy, but i don't know why we have to be bounds by a one-china policy. why should some other nation say i cannot take a call. i think it would have been disrespectful not taking it. charles: joining me to discuss,

why should china be able to dictate who our president-elect speaks to? >> you are absolutely right, charles. they shouldn't. however, there is a question here, and the big question, naval strategists and the president coming in will have to decide is how much we are willing to back taiwan. i don't think we are going to get into a shooting war with china over taiwan. but taiwan has significance to china. it's possible the president-elect is using this and a bargaining chip. charles: we know our greatest rival in the world in my minds is china. and they have been belligerent with barack obama building the south china sea, the islands there, thumbing their nose at international law. hazing our ships and air crafted.

it feels like we have a very aggressive would-be foe that needs to be slowed down in some respects. >> the pattern of the obama administration states was with the bush and obama administrations, we were thinking all we cared about was trade, and number two that of course was going well. one day china would start acting like the rest of us. they would start paying attention to the rules and norms. the fact is they have gotten strong and more when lidg d ande belligerent. he's going to link this to trade policies. charles: america talks to taiwan.

we fly a long-range bomb. what could happen to escalate this further? >> some of it depends on what president-elect trump does. if he keeps talking about dropping the one-china policy, it's not just taiwan it's shopping congress, tibet, they face all these places that they think are parts of their country they don't want breaking off. it's not only about taiwan though taiwan is the most important. they could militarize these islands on the south china seas and declare they will be controlling the air space and sea waters. they could get more aggressive on cyber. so this elbow throwing, this is the new normal. charles: four years and eight years is a long time for this tough talk to go back and forth.

do you foresee a worse case scenario? >> city was lucky enough to spends time on whitby island. i sat down the admiral. he was center clear. charles: we have to wrap it up. another worst case scenario, we are not going to a war with china. the worst case scenario is they will do cyber or affect us with trade. charles: the dowsets another record. chris stuart says don't believe everything you hear and read about russia and our election.

charles: a trums transition source telling fox news trump is

delaying an announcement on severing his business ties until january. he had scheduled a news conference to address this on thursday.

charles: big short-term gains and a pullback from market consolidation. taking profits when gains are large than they would have been for the full year is not an indictment on the rally or the economy. it's way much building up cash. if there were a wider pullback you would have some dry powder. i'm still excited about this market and excited about the economy. but i have been around long enough to know stocks can't get ahead of themselves. i did get an email suggesting that the market is significantly overvalued. p.e. ratios are tasd around way too much as a buy and sell

indicator. the schiller during the last several years, if you sold, you would be sorry at this moment. there was a time when wall street would quake in its boots over the potential for an interests rate hike. the question is can the street handle it or could the market take off on a rate hike this time around. last december the fed hiked rates in december for the wrong reasons. we started out with the worst start to the stock market in history. could history repeat itself? >> investors are saying a rate hike is all but certain. it's all about the dot slot. charles: do you understand the dot slot? >> i can't understand why certain dots -- charles: i think it's a psychological test and i fail it each time.

>> it tells you what they are thinking -- charles: the rate hike is built in. a rate hike is coming wednesday. the key is give it to us easy in 2017. >> there is a balance to strike because the fed doesn't want to get ahead of policies in washington. donald trump's inauguration is the starting point. they don't want to jump the gun. and they don't want to fall hind rising asset prices and economic growth. ask. charles: also donald trump gets his start electing governors. we have a dowsm doves -- a couple of doves coming in replacinged the hawks. >> i think next year will be relatively slow. there are a lot of uncertainties. trump has big plans, there are big hopes.

but it will come down to execution. two rate hikes next year sounds good. i think they will have an upbeat tone on the economy. i think they won't say a lot about next year. they don't want to get into a situation like they did last year. they have credibility building to do. >> they are also under fire. donald trump wants to change the way the fed works. we are seeing republicans in congress saying we want to comaingt rules for the fed. more transparency and firmer rules. charles: we heard mnuchin say he expects a low interest rate environment. there will be a lot -- i think the government will have to raise a lot of money. part of it is a private-public thing, but some of it will have

to come through bonds sales. >> the fed knows it's under a microscope. charles: you were going to the event thursday. what were anticipating. what was the street talking about with respect to donald trump and these businesses? is it even possible to spin everything out this fast to family or executives? >> it will be difficult. he already sold some of his companies related to saudi arabia right after the election. charles: thank you both have much. trump promised on the campaign trail to drain the d.c. swamp. ron desantos says he's ready to help. if anybody would know, there is evidence russian hackers tried to florida manipulate our election, it would be republican chris. stuartchrisstewart.

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charles: donald trump just got backup in his message to drain the swamp. he's a member of the oversight and foreign affairs committee. thanks for coming back to the show. good to see you. i saw you were teeing up legislation for term limit. you put this up in 2015, i'm not sure what became of it then. are you confident this time around it will get through? >> we need a constitutional amendment to do term limit for members of congress and it's not got and lot of traction in previous congresses for obvious reasons. i think the x factor this time

is when donald trump promised to drain the swamp he said term limits was the number one thing he was going to push for. the president doesn't vote on a constitutional amendment, but i think him using the bully pulpit, paul ryan has already come out and said he supports term limits. i think that will cause republican members to say the american people want this and we need to do it. the thing about term limit is every single group, republican, independent, democrat, male, female, it doesn't matter, a strong majority support term limit for members of congress. charles: the most recent gallup poll shows 75% support for term limit. the trump transition source telling fox news donald trump is delaying his announcement on severing his business ties until

january. we understand transparency is a big deal, and the other side made a major issue of the fact that donald trump does business all over the world. and it's insinuating it can affect how he preside over this country. >> it's important for him to do it right. he's not taking office until january 20. i think that's fine. i think it's also important to understand that if there always conflict between this oath of office and business interests, that create a problem. but just because he owns real estate around the world, that in and of itself is not a conflict. some of the issues the media will bring up aren't really conflicts of interest. charles: i can tell you on my twitter feed they are saying thank you very much. the american public is behind you 1,000%. >> i'll come back when we pass it.

i look forward to it. charles: we'll go out to our panel, noel you raise money for these guys. i thought it would be a bad day for your business, but maybe it wouldn't. 2013, senator vittert pushed hard for this. in 1996 there was a vote, 48, 52. this has been permeating in our system for a long time and never seems to make it. >> this is the best time to get this passed. we are tired of a lot of the politicians making a career out of this. you are supposed to work for the people, you are not supposed to do this for yourself and make this into a career. desantos is so fantastic in pulling this out and trying to get this again.

if it's ever going to pass, it will be now. charles: it's a career that enriches so many people. people wonder how they go to d.c. and come back millionaires. doesn't something like this have to go through to drain the swamp? >> i don't think it's a cure-all. charles: it's a piece of the puzzle. >> one thing we need to think about is whether we are creating an incentive for people to go to washington and be thinking about what they are going to do next. pushing for a lucrative career after. charles: aren't they doing that now? >> yes. but term limits may exacerbate that. one way to do it may be through state legislatures. we have seen in the past significant support for that in the state levels. 23 states tried to pass that when the supreme court challenge came through. that would be a way donald trump

could take his on-the-ground appeal and push this through. charles: if they don't get it through now, it will never get through. ladies, calls from both sides of the aisle for lawmakers to investigate whether the russians used cyber warfare to help or hurt hillary clinton. [vo] quickbooks introduces jeanette. and her new business: i do, to go. jeanette was excellent at marrying people.

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charles: uproar on capitol hill over allegations russia interfered in our election. joining me, congressman chris stewart. this was the big news over the weekend. donald trump speak with chris call has on the topic and making a lot of sense to me. it feels like it's sowsh grapes, but the republicans grabbed the baton and kept it alive.e are nt

concluding anything like that and for the media to present that isn't accurate. charles: 1 intelligence agencies have couple with this conclusion, but many people watching this feel like it's the administration pushing for a conclusion or narrative to suggest this election wasn't on the up and up and always has a dark cloud over a trump pr

for some people to claim the intelligence community has come to a consensus that they favor donald trump, it's just not supported by the evidence. charles: thank you very much,pp. i want to bring in our handle now. mike, let me start with you. ambassador bolton brought up the

stop i can. ambassador bolton brought up the topic, why it would benefit russia to have donald trump in office? that narrative to a lot of people doesn't make sense. >> it doesn't make sense. to the congressman's point, there are a limited number of people that actually know what the agencies, the cia and f.b.i., what they actually have in terms of information or evidence. other people are purely speculating. you have a limited number of people involved and have a need to know about this issue and what assessment they make of it. should it be any surprise to people that the russians have been involved in meddling? have been involved in some sort of intrusive effort to undermine faith in the select early to process and democratic system? no, because they have been doing

it for decade, going back to preworld war ii. this is what they do. they and the chinese, this is how they operate. the speculation isn't why, and motivation is always the most difficult thing to come to when you talk about intelligence gathering. charles: michael morrell called this hack by the russians supposedly the political equivalent of 9/11. murks ustafa, it sounds like hyperbolic to me. >> i don't understand the nature of this conversation and what my colleague just said. it's been very clear the russians have hacked into these systems. it's very clear it was at the democratic national committee. john podesta who chaired hillary clinton's campaign. all the information that was leaked benefited donald trump, and we are saying this was done

in a way that didn't benefit donald trump? are we defying logic? charles: it might have benefited donald trump because hillary clinton set up an illegal server in a barn somewhere. >> they did not hack her server. they hacked john podesta's email. they harked the dnc server. sou can't just -- charles: here is the thing, mike baker. donald trump said if hillary clinton had won, he made the same allegations. people would say he's a conspiracy her theory her theor. >> russia is broke our systems every day for a variety of reasons.

but they have been briefed on this for years. an investigation into what they are doing should have been carried out by this administration. >> lou dobbs is next. lou: good evening, the nation's radical left is in a tailspin. for past month, they have tried almost everybody, trying to delegitimize the president-elect's stunning victory, they tried to urge republican electors to abandon the electoral college, and switch their votes to hillary, they tried recounts in wisconsin, michigan, and pennsylvania. and every instance, resulted in failure. mr. trump today reaffirmed as