tv Special Report With Bret Baier FOX News February 5, 2018 3:00pm-4:00pm PST
the three a lab who lived to be almost 18. >> kimberly: a lot of people do this. they even grind bones. >> jesse: "special report" up next. how about those eagles, bret. >> bret: congratulations, jesse. this is a fox news alert. i am bret baier. on paper, millions of americans who are in the markets are poor tonight. wall street took a historic nosedive again today. losing as much is 1600 points this afternoon. the biggest point drop in history, the biggest single day point drop. some recovery in the final hour but the gains made so far this year are essentially gone. final numbers for the day, dow losing almost 1200 points, more than 4.5% of its value. s&p 500 down 113, more than four percentage points, nasdaq dropped 273, a drop of almost
4%. since president trump's inauguration last january, the dow had been on a steady climb until last week. the dow started heading south thursday and was still falling today, losing $1 trillion in value just in the first five days of february. let's find out why and where all this may be going. deirdre bolton at the fox business network joins us from new york. >> good evening. what a day, going over the statistics. there was one moment where the nasdaq was higher, in fact it looked like the stock market might find some support. that movement quickly ended. today is even more dramatic. we just hit historical record highs for the dow. s&p 500 and nasdaq in january. weeks ago, we were at historic highs.
today an historic point loss for the dow. there are clear push and pull forces on the market and today the pessimists who won. the case for optimists, the u.s. economy is strong. 17-year low unemployment, rising wages. 80% of the s&p 500 companies have beat forecasts. that's the most upside surprise since 2008. in the case first first pessim, there is concern about increasing inflation. investors worry about that because when the fed sees it, it will raise rates quicker or higher or both than previously estimated. it's akin to pumping the brakes on the economy. higher rates makes all kinds of borrowing more expensive. it's true for corporations and also true for consumers who may want to get mortgages or car loans. even though every single dow component was down today, every
single industry group in the s&p 500, financials, and energy, they were the stocks hardest hit. strategists took it with a grain of salt. the view i heard most in the bigger scheme of things, this sell-off is not that big but it's important in psychological terms. essentially it disrupts our sense of tranquility we've had with the 8-year bull market where every single year the stock market is closed higher year on year for almost a decad decade. if you bought stocks a year ago, you are still up 19% even though there was red all over the screens today. average the returns of the dow and s&p 500 and nasdaq, still up 19%. bret, back to you. >> bret: most people think take a deep breath. deirdre, thank you. white
house press secretary sarah sanders said "the president's focus is on our long-term economic fundamentals which remain exceptionally strong with strength in the u.s.
economic growth, historically low unemployment and increasing wages for american workers. the president's tax cuts and regulatory reforms will further enhance the u.s. economy and continue to increase prosperity for the
american people." the federal reserve has a new leader today. jerome powell was sworn in as the 16th fed chairman. he was nominated by president trump who broke with tradition and did not offer a second four year term to janet yellen. powell says he will support continued economic growth that a healthy job market while remaining vigilant to any emerging economic risks. >> on employment is low, the economy is growing, and inflation is low. through our decisions on monetary policy, we will support continued economic growth, a healthy job market, and price stability. i am pleased to report that our financial systems are stronger and more resilient.
>> bret: powell has been on the federal reserve board since 2012. here are some numbers to put things in perspective. in terms of points, today was unprecedented. previous biggest drops between 700 end 800 in the financial crisis of 2008. today's 4.6% drop was far from any historical record as far as percentages go. the dow lost almost 23 percentage points in october of 1987. black monday. there were big losses in the great wall street crash of course of 1929. nothing even close to that right now. let's get some analysis right now from gary b smith, the fox news contributor. gary, it is jerome powell's first day as a fed chair, not exactly the best day to come in but there is an interesting dynamic in the market where the economy may be doing well fundamentally but just the threat of interest rates going up really spooks folks.
>> exactly. i think the focus on inflation and the fed is a little overdone. there's a lot of people in the market that have never really lived through high inflation. like there was in the '70s. if people look at inflation right now at the end of 2017, inflation is still only 2%. we live in a far different kind of economy than we did even five, ten years ago because of companies like amazon out there, because of so much you can get from china. it's very difficult across the board to find a company or retailer or grocery that can actively raise prices. that's the key to inflation. i am not not on worried but i think this was kind of normal, although abrupt pullback. >> bret: is it a correction,
per se? we were down 1600 today. came back towards the end of the day but as you are looking at where the fundamentals of this economy are, you know, what should the average investor be thinking? >> i think the average investor might be saying now might be a good opportunity. i'm not saying buy tomorrow morning. after a volatile day, a lot can happen. we could open down. the fact is most people, as deirdre pointed out, are flat for 2018. we've been up about 260% since 2008. we are up 55% since the bottom in late 2015. this i think is normal. unlike the other sell-offs that we have had it '98, 2000, underpinnings like the housing
crash, financials, the underpinnings here are very good, as you point out, as the president pointed out. >> bret: gary, thank you. another fox news alert. right now the house intelligence committee is considering the release of the democrat version of last week's declassified document alleging abuse of the surveillance system by political enemies of the president. also learning more about how associates of hillary clinton may have fed information to the author of the so-called trump dossier. chief intelligence correspondent catherine herridge is here tonight to tell us where things stand. good evening. >> it comes down to the math the democrats need to security majority and get their version out of committee and to the president who would have five days to object as a new memo may be in the offing.
>> what we're looking at now is the state department and some of the irregularities there. >> republican chairman of the house intelligence committee said there were -- their work is not done, focus shifting to foggy bottom under president obama. >> we will follow the facts where they lead and when we get enough facts, we will figure out a way to let the american people know. likely it won't be done the way this was done. >> months before the presidential election is a pivotal period. by july 2016, then fbi director james comey opened the russia probe. former british spy christopher steele was sharing the trump dossier funded by the dnc and clinton campaign with bureau agents. former government official under secretary clinton now confirms christopher steele reached out to the state department about his findings. >> he passed pages of short points when he was finding. our immediate reaction to that was this is not in our purview.
this needs to go to the fbi if there is any concern here that one candidate or the election as a whole might be influenced by the russian federation. >> steele is the subject of a criminal referral, asking the justice department to investigate. and whether he lied to the fbi about the distribution of the dossier or the fbi misrepresented his statements. republican chairman chuck grassley along with senator lindsey graham made the referral last month and released an unclassified version. while heavily redacted by the fbi, including references to widely available media reports, the senators wrote another stream of information was coming to steele. it's troubling enough the clinton campaign fund on capitol hill, democrats led by the house intelligence maze ranking member who drafted a competing ten page mill called
it . when you do oversight, you haul them in under oath and say why was this included. the interest wasn't oversight. the interest was a political hit job on the fbi. stick with a senate minority leader chuck schumer wrote to the president over the weekend in support of the democrats memo in the white house that it would consider the request under the same declassification rules that applied to the republican version and if we get an update on that, we will bring it to yo. >> bret: thank you. the president and top intelligence committee democrat adam schiff are firing social media bombs at one another over the surveillance memos. this comes as president trump tried to put pressure on democrats over immigration and another fast approaching deadline for a government shutdown. she fought a score spotter john roberts has all of that for us from the north lawn. >> good evening. arriving back from cincinnati, the president ignored shouted
questions about the fisa memo. that's four times he has ignored questions about it. on social media and in the speech today, the president had plenty to say about the fisa memo. promoting tax reform in cincinnati, president trump didn't specifically mention the republican fisa memo but it was clear what he was talking about. >> did we catch them in the act or what. you know what i am talking about. oh, did we catch them in the act. they are very embarrassed. they never thought they were going to give time. we caught them. hey, we caught that. oh, it is so much fun. we are the great sleuth. >> on twitter the president praised devin nunes as a man of tremendous courage, great american hero. he took a sharp aim at the ranking democrats, writing: little adam schiff, who is desperate to run for higher office, is one of the biggest liars and leakers in washington, right up there with comey, warner, brennan and clapper! adam leaves closed committee hearings to illegally leak
confidential information. must be stopped!" schiff wasn't about to let her let that go unanswered. "mr. president, i see you have had a busy morning of executive time. instead of tweeting false mirrors, the american people would appreciate if you turned off the tv had helped solve the funding crisis, protected dreamers, or really anything else." president trump did take some time to focus on something else, tax reform. not mentioning the huge drop in the stock market despite taking credit for its rise but breaking the growth potential of his tax reform plan. >> you can work hard to put if you don't have the right leader setting the right tone, in all fairness, not even saying. i am nonbraggadocio's. but if i don't set a tone like you are not going to keep taking our jobs. you are not going to keep doing what you're doing. >> president trump said because of tax reform, republicans may book historic trends in the
november midterms. >> i think because of what we don't want because of the tremendous success we've had. i had a feeling that we are going to do incredibly well in '18. and i have to say this. history is not on our side. but it's not because of that word, complacency. >> president trump wants to make sure he doesn't take the blame if there is no deal on daca, with the deadline a month away. the president tweeting "any deal on daca the doesn't include strong border security is a total waste of time. the president took aim at nancy pelosi, suggesting her criticism of tax cuts make it difficult for him to work with her. >> and a lot of people want to run her out. she's really out there and i'm supposed to make a deal with her? >> president trump took another shot at democrats who sat on their hands during the state of
the union address. saying they were like death, un-american, not applauding historically low black on employment amounted to treason. >> bret: john, thank you. this is another fox news alert. we are just being told that the house intelligence committee has in fact voted unanimously to vote out the democratic memo. top democrat on the committee adam schiff. let's listen into some news if we can. >> coordinated conceptualize this memo and culmination with the white house. we know the chairman embarked on a similar effort to coordinate a campaign early on in the investigation. once again, mr. nunes refused to answer the questions. at the end of the hearing he gave a very lawyerly written response to saying that the
white house had not been involved in the actual drafting of the memo. in terms of whether it was coordinated with the white house or they were consulted or strategized, the whole concept, refused to answer those questions. obviously that's a very important question for our committee. the reality is that as the investigation has progressed, our own perhaps most significantly our investigation by bob mueller, as more and more individuals have pled guilty and the evidence has mounted in terms of the issue of collusion as well as our obstruction, there is a rising sense of panic within the white house and on the hill. as a result, we see a tactic we've often seen in criminal cases where when the facts are incriminating of the defendant, there is an effort to put the government on trial.
that brings us to where we are today. our committee, republicans have endeavored to put the fbi on trial, the department of justice on trial. impeach and impugn the hard work of these dedicated public servants at the fbi department of justice. we think it ill serves the public and we hope they will stop. nonetheless, chairman has announced his intention to continue with other phases of the so-called investigation into the fbi and the department of justice and maybe other agencies. he has publicly described this memo as phase one. in fact, it is phase two. phase one began with the midnight run of the presentation of the white house of information he had gone from the white house. this is phase two. we hope these phases of distraction will come to an end and once again the committee will focus on what the russian state to interfere in our election. we know about the trump
campaigns contacts and communication or collusion with the russians and what we can do to prevent this from happening in the future. that's where we hope our investigation will get back on track. happy to answer any questions. [indistinct question] further action taken. >> the vote was unanimous to release it. i think republican members understood that after calling for full transparency, they were getting hammered over the course of the week for trying to hide the minority response. what will we do with the white house essentially either rejecting to protect itself or refusing to release, i think it's going to be hard for the white house bike it was hard for the republicans on the many to release of this. i am more concerned that they make political reactions, not to protect sources and methods.
we are going to insist that the department of justice and fbi report to us on what actions they think are necessary so we can segregate any political interference from the white house. >> bret: adam schiff, leading democrat on the house intelligence committee bringing us the news that the committee voted unanimously to send the democrat version of the intel memo. we've got the majority, the republican version, last week. now they democrat version voted out, sent to the white house and they will make a determination about redaction's or not. based on analysis by the fbi and other intel agencies. let's get some perspective on this. senior clinical analyst brit hume joins us. brit, a couple things, one is congressman schiff says the republicans were holding back or somehow preventing the democrat memo from getting out. they voted last week to start the same process.
which was to have the house members to view it first before getting to this vote tonight. there was a little bit of disingenuous there about the portrayal of it. >> you've got to give credit to adam schiff. he does a better job keeping a straight face in almost any politician i've seen a long time. you are right, the process was exactly the same. the democrat memo did not exist until after the republicans, having worked on it for some time, produce their memo. the democratic memo was a reaction to it. of course, it was therefore, the process has started somewhat later and they took it in sequence. remember also that when the vote was taken to release the republican memo and send it down to the white house for further review, the democrats all voted against it. tonight it appears from what
schiff said, that all the republicans voted to release the democratic memo and send it to the white house for final review. you have a little bit of study and contrast there. >> bret: interesting to hear him talk about the possible redaction, saying that the white house may choose to politically redacted. from what we've been told, the democrat memo which is a little bit longer, does have some concerns from intel officials about sources and methods opposed to the g.o.p. memo they did not deal with that at all and they really tried to come according to the republicans in the committee, avoid problems with it. i think that's right and i think it will remain to be seen what if any further reductions are made with the democratic memo. none was made as far as we know to the republican memo and you may recall that mr. schiff and others, including james comey, eric holder, and others were claiming that there was going to be major intelligence leaks here
and damage to our intelligence sources and methods by virtue of the republican memo. you are not hearing those limits anymore because they obviously come there was nothing in that memo that would of rise to that problem. so you have to be -- and have to keep a scorecard about the claims that are being made. i guess on both sides. about the memos and what they're going to do. but i think this one, from the democrats, is well on its way to release. we will see to what extent it knocks down conclusions that are in the republican one. >> bret: we've been trying to keep a scorecard on both sides and as the investigations are going different ways, try to keep track of it all and keep it in perspective. brit, your thoughts on the follow from the release of the memo last week and what we have seen substantially since then until today. >> if you drill down and look at the essential point in the republican memo, it is that the
steele dossier which was created by and for the democratic party and hillary clinton's campaign, we now know from what we learned today that the clinton campaign was involved in feeding information to mr. steele, this utterly political document was used as a basis for the wiretap warrant on a man who had been advising the trump campaign, carter page. you will notice, and the response to that has been oak, no, we warned the court of the partisan origins. however all of the defenses of the behavior by the fbi have not said that the information about the involvement of the hillary clinton campaign and the democratic party was made known to the judge. what we apparently had here was vague references to party origins and that's it. i'm not sure that would be enough for a judge who would want all the information.
>> bret: we will follow all of this. as always, brit, thank you. >> you bet. >> bret: the pentagon is looking for hundreds of millions of dollars that have disappeared. where could that money have gone? u.s. troops on the move from iraq. also the third major amtrak crash since mid-december. we will go live to the scene to find out what happened. stay with us you were made to move. to progress. to not just accept what you see, but imagine something new.
oh, that's my robe. >>is it? when you switch to liberty mutual, you could save $782 on auto and home insurance and still get great coverage for you and your family. call for a free quote today. you could save $782 when liberty stands with you. liberty mutual insurance. >> bret: we are three days away from a possible second government shut down may be of the new year. chief congressional correspondent mike emanuel's on capitol hill with a status report. >> house republicans will meet to discuss funding the government facing a thursday night deadline. sources tell fox a six week extension through march 22nd is likely. democrats have not agreed to a spending cap deal. one option is adding more
national security money to win over defense hawks. >> no reason why our war fighters need to continue to face uncertainty until all the other issues are resolved. >> the idea is not placating the democrats senate leader. >> there isn't much time to waste. and yet speaker ryan is considering a short-term extension of funding for urgent domestic priorities but a long-term extension and a large increase of funding for defense. >> speaker ryan said lawmakers were making progress on setting spending levels but needed more time. after a brief shutdown in january over daca, those young people brought to the country illegally by the parents, democrats don't sound eager to repeat the drama. >> i don't see a government shutdown coming but i see a promise by senator mcconnell to finally bring this critical issue that affects the lives of hundreds of thousands of people in america, finally bringing it to a full debate in the senate.
>> senators john mccain and chris coons offered a bipartisan immigration plan. the white house was quick to reject it because it does not provide money for the border wall and does not end chain migration or the diversity visa program. >> these two programs risk exploitation from those who do not share our values and actively work to undermine them. >> senator coons called it a good starting proposal for a debate. >> lays out a plan halfway toward securing control of the border by 2020. >> republicans note president trump made a serious offer including a path to citizenship for 1.8 million people and democrats must decide if they want a solution or campaign issue. >> i hope there is a deal, get it off the table. if the democrats turn it down, it should be an issue against them in the campaign. >> foxes told part of the pitch to house republicans will be more money for the military and extending health care spending such as community health care centers.
looking for the right combination of the yes votes. >> bret: mike emanuel, thanks. police in indiana say a man being held in a suspected drunken driving crash that killed indianapolis colts linebacker edwin jackson is an illegal immigrant who has been twice deported. police say jackson and another man were standing outside her car along interstate 70 when they were fatally hit by a pickup truck being driven by a 37-year-old. as president trump is pushing for a massive increase in the pentagon's budget, a new audit says the defense department has lost hundreds of millions of dollars. national security correspondent jennifer griffin is the latest from the pentagon. >> the pentagon can't account for $800 million. that according to a shocking internal audits of the defense logistics agency done by ernst & young. the department of defense continues to have unresolved accounting issues and is unable to provide sufficient evidential
support for complete and accurate financial statements on a timely basis. raising questions about how the pentagon is managing taxpayer money. the white house plans to ask for billions more for defense on top of its current $700 billion budget, the largest in the federal bureaucracy. last year, the pentagon comptroller ordered an audit for the first time ever. >> it's been clear to me for 25 years they never follow the money. everybody respects the military and we ought to. they put their lives on the line for our freedom and liberties. we ought to. but i think they get too much leeway just because of that respect. >> ernst & young found the defense logistics agency failed to document $800 million in construction projects. employing 25,000 people, the process is 100,000 orders a day. spokesperson for the agency
responded. "dla concurrence with the ernst & young's assessment for our failure to properly account for and track funding to specific construction projects." there were shortcomings and documentation, there was no loss of accountability of real property or associated funding. some experts are willing to give dla the benefit of the doubt. >> if you look back at some of the i.t. systems that dod uses for its accounting of financial systems, some of them date back to the 1960s, 1970s. >> for the past ten years, defense secretary after defense secretary has tried to begin a complete audit of the pentagon. by law, they were supposed to complete one by december 31st. we are learning the cost of such an audit could top more than a billion dollars. >> bret: what can you tell us about u.s. troop drawdown in iraq? >> pentagon officials tell us hundreds of u.s. troops have started to leave iraq but about 700,000 u.s. troops remain on the ground there.
training local forces. most of the american troops motioned to the u.s. but some are headed to afghanistan. among them, drone units that provide badly needed intelligence on surveillance. iran has pressured iraq to rid itself of u.s. troops. this announcement follows iraq's declaration in december that the fight against isis is over and precedes an election in iraq in may. >> bret: jennifer griffin live at the pentagon. thank you. vice president pence is on his way to alaska at this moment, the first have a six-day tour that will include leading the u.s. delegation to the winter olympics in south korea. among the vice president's team on the trip, the father of otto warmbier, the american student who died last year shortly after he was released from north korean detention. he will be at the opening ceremonies. investigation into sunday morning's deadly amtrak crash in south carolina is focusing tonight on a manually operated switch that may have sent the
passenger train barreling down the wrong track and into a parked freight train. jonathan serrie is on the scene and west columbia, south carolina. >> third fatal train crash in as many months leaves two dead. investigators gather evidence at the side of the amtrak crash in south canada. >> the event data recorder from the amtrak locomotive was recovered and it was undamaged. it has been successfully downloaded. >> ntsb officials say a switch diverted amtrak train 91 from the mainline to a side track where it struck a parked csx freight train around 245 sunday morning. >> bodies everywhere. seats up off the floor. >> last week a train carrying republican members of congress crashed into a garbage truck at a railroad crossing, killing one person in the truck. and amtrak derailment killed three in december in washington state after the train failed to slow down while rounding a
curve. sunday's accident has renewed calls for positive train control or ptc, safety technology that can reduce train speeds based on real-time track conditions. >> fully operational train control system could have avoided this accident. that's what it's designed to do. >> originally supposed to be fully installed by the end of 2015, congress extended the deadline for implementation to the end of this year with the possibility of further delays. >> it is so important in this country that ptc be implemented by the end of the year and that we don't give any more extensions. >> the ntsb says track signals of the crash site were not operating at the time because they were undergoing upgrades for a ptc system. investigators plan to remain unseen through the weekend and then the ntsb will issue a preliminary crash report a few weeks after. >> bret: jonathan serrie live
in south carolina. jonathan, thanks. former team usa gymnastic and michigan state university dr. larry nasser was sentenced to date to between 40 and 125 years in prison for sexually abusing patients at an elite gymnastics club. it's the third and final sentencing for nassar. up next, historic losses on wall street. we will hear about it from the panel.
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after years of stagnation. the united states is once again experiencing strong economic growth. the stock market is smashing one record after another. >> the stock market is up sincey election almost 50%. >> bret: the president talks about the stock market a lot. he did not talk about it in the speech today. one of the reasons what you are seeing on the screen, the stock market dropped almost 1600 points before regaining and finishing at about almost 1200 points down on the dow. there you see the rest of the markets. as the president notes and the white house put out late this afternoon, since the election, the dow specifically has seen a major increase and obviously today you see the top of the mountain fall off and many will say this won't be the last time in a volatile situation. today was the single biggest
one-day point drop ever but not the single biggest percentage drop in the markets. what about all of this? let's bring the panel. guy benson, political editor at townhall.com. mo elleithee, executive director of the georgetown institute of politics and kimberly stressful, member of the editorial board of "the wall street journal." kimberly, your thoughts on this as you look at the big picture of the economy and what happens on a market date likeness that obviously jars a lot of people in the markets. >> i think the important thing to remember is that the economy has not materially changed from friday until monday. there isn't necessarily an economic reason behind it or for any reason to panic. more likely people have been talking that dumb market with potentially little overvalued and do for correction. last week also is awesome rising bond yields. that makes people think inflation, higher interest rate
rates. makes the stock market look a little less attractive. some of it might've been the machines taking over. at a certain point when the market drops enough, they have algorithms that kick in and that could have exacerbated it. i think the important point is that the economy itself is still very strong. and a gift to the lack of wisdom of the president using the stock market as an indicator of the health. >> bret: sometimes politicians often try to stay away from using the market because of just this reason. that said, if you think about it that sometimes the increase of confidence in an economy can actually cause some fear about what the fed is going to do as far as interest rates. >> i think a lot of people are concerned about that and i agree completely with the point that kimberly made. you live by the sword, you die by the sword. you put it out there is the single greatest indicator of your economic prowess, then when you take a hit, the stock market
takes a hit, you have to answer for that. i think he is facing that now too. is it going to change the political dynamic heading into the midterm year at all? probably not. i do think the economy is going to be the single biggest catalyst of what happens politically in the midterms moving forward. but it's not going to be fought on this ground and thus we continue to see many more days like this one. >> bret: guy, if that is true, and what mo is saying. the white house is saying for all the workers who have $1,000 checks or the workers who see increase in their paychecks as of this month, that's changing the dynamic. >> it is changing the dynamic and i think the republicans should be hammering at this every day. the democrats have taken a strange approach to this good news for the american people and
for millions of american workers. they are demeaning in many cases the crumbs that people are getting in the form of bonuses and enhanced benefits, 401(k) matches, expanded operations, and even more people are seeing in their paychecks. pay bombs as a result of the tax cuts that democrats themselves had argued hysterically in many cases would never materialize under a beer there -- under a bill that was. for democrats to try to quickly pivot from this is a terrible bill that will hurt working-class and middle-class people to the good news for working-class and middle-class people isn't good enough news, it's just crumbs and they need to understand they shouldn't get too excited. that's a tough adjustment to make rhetorically. >> i think democrats actually have plenty of room here to go after this tax law. i agree with you, trivializing
the benefits as crumbs probably wasn't the smartest way but there's plenty of data out there in plenty of anecdotes. the president is fond of putting out anecdotes of bonuses people have received. there's plenty of anecdotes of layoffs, corporations that took the tax windfall, closing down factories, laying workers off. since the bill became law, 40,000 of love lost their jobs and $9 billion have been invested in corporate stock buybacks. for democrats to be able to point out the growing disparity there, the consequence of people, ceos laying workers off in order to line their own pockets is a much i think more potent strategy for them to have this fight then trivializing thousand dollar bonuses. >> bret: if that was accurate across the board, i think you wouldn't see some of the polls
who are seeing. monmouth has a new poll out of the question is your view of the tax reform plan. you look at the poll now as opposed to what it was in december of 2017 and the disapproval has been erased and it's essentially approve, disapprove. it matches almost every poll. and then you look at the generic ballot between democrats and republicans. it's down to two points. >> this is the best thing the republicans could have done. this was the biggest complaint about the obama economy is that it wasn't horrible but it didn't really offer a lot of inspiration. there was not a lot of good news. it bumped along. there's always going to be an anecdote here or there of some layoffs or something but overall the question is are people generally benefiting from the spell. this is why the president has so much he could be talking about, not the stock market. even though stock market -- people don't tend to feel it immediately.
yes, they like to see their 401(k) going up, 529 for their kids. it's always something in the future. mostly in the future. what they care about is the day-to-day paycheck. the fundamentals are so strong and getting stronger and we are only a month into this. we are not even beginning to yet see some expansion the different companies have promised in investments they are going to make. those other things republicans, if they continue to hit on that, it's going to be the strongest ammunition they will be able to talk into the midterms. nothing else will compare. >> bret: thank you. i want to put up one more graphic. the dow since 1924, this gives you a perspective of where things have been in if you've been in the market a long time, you can see what happens. you have made money. and it has always continued to go up with the dips. look how tall it is now. that's for the folks who can
take a deep breath and the long-term. next next up, the fight after the fisa memos. ronoh really?g's going on at schwab. thank you clients? well jd power did just rank them highest in investor satisfaction with full service brokerage firms... again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. ♪ ♪ there are two types of people in the world. those who fear the future... and those who embrace it. the future is for the unafraid.
♪ >> house intelligence committee voted to release the memo in response to the majority memo, the nunes memo. we think will help inform the public of the many distortions and accuracies -- inaccuracies in the majority memo. we want to make sure any reductions are fully explained by the fbi or department of justice. and likewise by the white house. we want to make sure the white house does not redact our memo for political purposes. >> bret: ranking democrat on the house intelligence committee, adam schiff, saying the intelligence committee tonight voted unanimously to
move the democrat memo to the white house to make the determination whether it will be like the g.o.p. memo released to the public. earlier the president weeded ou out: little adam schiff, who is desperate to run for higher office, is one of the biggest liars and leakers in washington, right up there with comey, warner, brennan and clapper! adam leaves closed committee hearings to illegally leak confidential information. must be stopped!" back with the panel. mo, seems like the democrat memo is going to come out. the question is how much will be redacted. >> i hope it's treated in the way the republican memo was treated by the white house. should have been allowed to go out days ago. they should have, if the republicans on house intelligence committee resistant, as they say, in the interests of transparency, to put out there memo, they should have waited and allowed the democrats to put it out at the same time. if their motivation was to live the american people make up
their own mind, they should've presented more of the facts and i hope and expect the democratic memo will fill in some of the many, many, many gaps that are in the republican memo that actually wasn't all that conclusive i didn't give him a lot of information. we this will fill in some of those holes deliberately left open. >> bret: kimberley, your thoughts on the fallout from the g.o.p. memo coming out and the back-and-forth. >> first of all, i am thrilled they are going to release the democratic memo because the more information that's out there, the better for the public. i wish that had been the view of democrats and the fbi and justice department from the start. i think we've got more important information today that was overshadowed by the house move. the grassley referral to san christopher steele for a criminal investigation. part if it was released today.
unclassified version. we find out the court not only was not given the whole story but was given materially false information. it would appear the fbi was led to believe mr. steele was not talking to the press when he has a test now that he had. questions asked to the fbi about that as well. >> bret: guy, you heard chairman nunes talk about may be a few phases, the next one being the state department. in this criminal referral, writes "troubling enough the clinton campaign funded mr. steele's work but that the associates were contemporary sleep feeding mr. steele allegations raises additional concerns about his credibility." saying that the state department was fondling information to steele that he was using for a second dossier. >> it makes your head spin, all of the moving parts of this whole controversy. don't forget there is an inspector general report we are
waiting on into the fbi's handling of the clinton email scandal investigation. i want to say i agree with ♪ ♪ that i agree the republican and democratic memo should have been put out of the same time and i don't trust the republicans to give us the full story. i don't trust adam schiff and the democrats either. i think there's going to be murkiness because the underlying intelligence is still behind closed doors. i would like for the american people to get a look at the fisa warrant application. read acted and vetted for national security reasons. let's see what the fisa court was given and offered in terms of the evidence that undergirded the ultimate decision to allow the spying on someone who was previously a member of the trump campaign. >> bret: panel, thank you very much. we will follow it all. when we come back, the celebration in philadelphia for the big eagles win.
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>> ♪ >> bret: finally tonight, congratulations to the philadelphia eagles fans on their team big win over the new england patriots in the superbowl. it was a great, great game. fans took to the streets to celebrate that win. but these two made the moment more special with a proposal in front of philadelphia's city hall. she said yes. last week eagles defensive end chris long announced if his team beat the patriots, he would get a tattoo of eagles defensive coordinator's face. that originated when long signed with the eagles in the off-season. the coach reminded him about that bet last week, so i guess he is getting the tattoo. congratulations to the eagles. long time coming and a fantastic game. it was great to watch. thanks for inviting us into your
home. this it for this "special report." "the story with martha maccallum," who is a big patriots fan and was at the game. >> martha: not only that, i have to wear an eagles jersey later in the show. thanks. breaking tonight on the "story," growing evidence suggest there was a coordinated effort between the clinton campaign and the obama white house to use arms of the government to impact the 2016 election. good evening. i am martha maccallum. we will layout this web of the growing story by the day, and get the latest on another element. president obama there and the state department is of particular interest. you have democrats firing back with their own memo to answer the devin nunes a
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