Low of 174 points now down 115 points. The s p 500 losing seven, the nasdaq down 12. Now, as the president does make his first visit to wisconsin since the inauguration, he is focused on signing what the white house is calling the buy american with hire american executive order. Hes about to make a speech there where he will define his goals on that and then elfed the executive order. Our cameras are there. We are going to cover all of it live for you. Plus, that nationwide manhunt for the socalled facebook killer is over after Steve Stevens commits suicide in pennsylvania. But the ripple effects of his gruesome online posting are only growing from Facebook Ceo Mark Zuckerberg and his social media empire. Howard is here to tell us if facebook might be facing a government crack down in the form of regulations on its video services. All of this red on the screen that you see here, traders are saying blame it on goldman but theres more that meets the eye here. Were less than an hour to the closing bell, lets start the countdown. Liz okay. So it is not just goldman, although, im looking at goldman right now. It is not just goldman. It is also former Goldman Sachs banker who might have something to do with the red pool, the market has been stuck in since this morning. Treasury second Steven Mnuchin, the former goldman banker now backing away from the very specific promise he had made tax reform would be signed and sealed by august. Now he says thats a little too ambitious, so the bulls give it yesterday and at this hour, the bears are taking it away. Take it away. Yes, lackluster earnings from banking giant Goldman Sachs did send stocks sliding, th the second the session started. How goldman is continuing to stumble and now we see that the goldman affect on the Dow Jones Industrials is also immediate. But, again, were off the lows down 121 points. Goldman posted that rare earnings miss, said offset Better Mortgage revenue. The nasdaq down 12, the s p 500 were watching it down 7. 5 points, but you have to stick with me here. The final hour will determine whether all of yesterdays gains, which is more than 180 will be released, at least for the dow. As goldman slashes more an 60 points off the dow, United Health is trying to glue some of those points back on, the insurer is one of the dows biggest gainers, up a full perjury points after it beat on earnings but also it raised its profit projections, and you may not love this part. The company says its ready to raise premiums to offset uncertainty over u. S. Health care laws. I told you guys. They will raise premiums no matter what. Have to be a target here when it comes to health care reform. All right. Lets take you live to wisconsin where President Donald Trump is set to tour billion dollar tool manufacturer snap on at any moment. We are being told that the president will be delivering remarks at snapon tools in just a few minutes. Keep that American Flag there. Thats made entirely of snapon tools. Very creative but the speech is also expected to be very interesting. The president will give it just before he signs a quote buy american, hire american executive order thats aimed to crack down on u. S. Labor laws but also to change the way h1b visa program for very skilled foreign workers, they want to change that by shifting it from its current random lotterybased system to more of a skills or meritbased system. What does this all mean as we wait on the president to make sense of it all, fox business jeff flock is right there live. Snap on in kenosha, wisconsin where founded in 1920, but it has had its own problems; right . Well, they have over the years, but, liz, these are tools that probably you or i dont get to use. These are high quality tools, they only sell them to professionals. In fact, they dont have any retail outlets, they sell them out of trucks, and they come to you to sell the patrols, and theyve done pretty well, actually. But this is a place where he will talk about manufacturin jobs and specifiy, that h1b visa program, which the white house says is now being abused. Its 85,000 workers annually that come into the u. S. From other countries as you report allegedly for highskilled jobs. But the white house in a briefing last night said that 80 of those workers come from Foreign Countries get paid less than the median wage in their field. So essentially a way for companies to bring in low cost workers from overseas and take the jobs of americans. The president also took the unusual step calling out specific companies. And ill show you the name of Cognizant Technology services, thats a new jerseybased company. As well as info and Tata Consultancy Services Based in india. Theyre guilty of abusing that h1b program. Also, on the subject of buy american. Quote from the white house briefers last night. It is a wellknown fact that buy american and the american rules and hire american have been enormously diluted. There are several federal statutes that implore the federal government to buy american whenever possible, but there have been a lot of waivers that essentially diluted that over the years. I leave you with the i dont know if we get a sixmonth chart or maybe a year to date chart of snapon tools or at least other toolmakers as well. Theyve done pretty well. The ceo of snap on here, nick, a guy that we know weve interviewed on fox business on multiple occasions is a man who supported donald trump fairly early on. And he likes what that president has to say. What hes going to tell him, liz, in the meeting thats going on right now is that we need to train our workers better and make sure that young people once again think its a good idea to have a factory job or be a mechanic and not have that be kind of a second place job. Liz oh, yeah. Absolutely. We need to change the attitude out there. A lot of people dont want these jobs. Liz welders, plumbers. I have to tell you. Forbes had an article about is welding jobs pay a lot. You just have to train. You have to join the union; right . Jeff, thank you. They say there are 600,000 manufacturing jobs now, skilled manufacturing jobs that go wanting because we dont have high enough skilled workers to take them. Hes going to get that message who hasre. Waited a long time for a plumber knows. We need more of them. Thank you so much. Jeff, appreciate it. Jeff is going to interrupt us if the president starts to walk through that crowd. In the meantime, as he focuses on american manufacturing, events on both sides of the atlantic are somewhat playing havoc with the markets. Wall street powerhouse goldman, we talked about that. Big on earnings. But its the treasury secretary Steven Mnuchin who specifically told the Financial Times something that was complete opposite of what he specifically told our neil cavuto just a few months ago. Hes now saying that the timeline on tax reform probably going to get pushed back as politics get in the way. Then weve got british Prime Minister teresa may in its surprise move calling for a snap uk election june 8th. That sent the european markets tumbling but also send the pound sterling skyrocketing. And then theres this. The imf this is relatively good news boosted its Global Growth forecast to 3. 5 . Theres imf chief christine along with me discussing this ahead of the report, which did come out this morning. Lets get right to the floor show and dig into all of these issues. Don, larry, elliott are joining me now. John, my gut is telling me that the red on the screen is due to Steven Mnuchin now saying i didnt know that dc would be so difficult to work with to get tax reform done. You know, liz, im not sure how much of that that really is. Clearly, we havent seen a day where we had the market go up like it did yesterday and then retreat right back. I think theres a lot of geopolitical headlines that are out there that are giving investors a little uneasiness about whats going on. But, yes, clearly when we talk about tax reform, i think most people after seeing what happened with health care reform, probably put things in a perspective a little bit. Liz there were so many cross currents with health care reform. But over the past couple of years, both democrats and republicans have called for tax reform, so i dont blame Steven Mnuchin for thinking at least it will be a friendly effort. Yeah. And tax reform is going to be a heavy lift. Theres a lot of complicated, moving parts to it. I dont care what side of the aisle youre on but clearly having Something Like that happen in a short period of time, i wouldnt be too surprised if that gets pushed down a little further. Liz elliott, is that you laughing . No. I would never laugh. Maybe smirking. Liz maybe smirking. Well, listen, we all can smirk. But, again, it is affecting the psychology of the markets, but we also have the announcement of what happened in the uk this morning, which is teresa may clearly, i suppose shes aiming for a better majority by having this election. But it hurt european markets, larry, what did you think about that . Well, what i think about european markets . This is a lot of uncertainty and people were stuck on what they thought was true as opposed to reality. I mean, the fact is its not all sunshine and rainbows. In europe, it is good that business surveys are at fiveyear high, that productivity is growing faster than wages. Its hard to believe. But the fact is theres still some big Secular Forces in place, including overleverage, overcapacity, and demographic changes are going to have to be reality to the market some time soon. And this might be the time and place. Liz well, the time and place for the safe haven trade was not yesterday. But today we have gold higher. We do have treasury yield plummeting to about 2. 17 . I believe thats about lowest in five months but oil is always a different story here. Well, oil is always a different story because its a global market; right . Everybody cares, and it comes from all over the place. We keep running into there are forces at work that clearly want higher oil prices, despite the fact that its pretty hard to justify, in my opinion. And, you know, youre talking earlier about global gwth and the stability in europe and you know me. I think oil is still a sell here, and i also think, you know, imf thing. Increasing the forecast doesnt really make sense to me in europe. Brexit is even in doubt now. And with this French Election coming up, they dont even know which way. I dont really understand that forecast. Everybody can see the interview on foxbusiness. Com but while she is positive about both the global and u. S. Economy, which they upgraded about a tenth of a percent from a previous effort, what she did say was that if frexit happens, that could cause major disruption. See you guys. We have to run because we have all of this breaking news with the closing bell running in about 48 minutes. We are waiting on the president , of course. The dow is still down now 127 points. But we are also watching this story. A deadly end for the socalled facebook killer Steve Stevens. Mark zuckerberg tech titan finding himself caught in the middle of another firestorm on what should and shouldnt be allowed on the social network. Media bug post howie standing by live. What he has to say about those who are calling for Facebook Live to be regulated. Plus, President Trump snap on headquarters in wisconsin, he is expected to speak imminently, specifically on new rules at leveling the Playing Field when it comes to building, buying, and hiring american. More countdown on the way. Well take it live when it happens. Can i get some help. Watch his head. Im so happy. Whatever they went through, they went through together. Welcome guys. Life well planned. See what a Raymond James Financial Advisor can do for you. Liz breaking news. The murder suspect may be dead at this hour but the outrage is still very much alive. The socalled facebook killer, 37yearold Steve Stevens shot himself to death just hours ago after he was spotted by members of the Pennsylvania State police who tried to pull him over. Steven was on the run since sunday when he uploaded a facebook video to Facebook Live that showed him murdering an elderly man who was collecting cans on the street. The suspects suicide unfolding just as hundreds gathered in california to attend facebooks annual Developers Conference this afternoon. The topic of course hijacked the spotlight for Facebook Ceo Mark Zuckerberg who was forced to immediately address the elephant in the room. We have a lot more to do here. And were reminded of this this week by the tragedy in cleveland. And our hearts go out to the family and friends of robert, and we have a lot of work, and we will keep doing all we can to prevent tragedies like this from happening. Liz heartfelt but still outrage over the killers video captured easter day slaughter was posted on facebook for nearly three hours before the Company Finally took it down. Howard kurtz, its that failure to act quickly enough that has some calling for regulation of Facebook Live and, look, this is not the first time extreme violence has been posted, but its just kept up there so long. Right. Facebook blew it. And the magnitude of Mark Zuckerbergs problem, and i appreciated the tone of his comments just there is that the shorthand on tv is the facebook killer. It should not take almost three hours to take down a content showing an act of violence as you mentioned this has happened before in cases of sexual assault, one case of torture, and i think that facebook has to do something about this Facebook Live where anybody can post and generally thats a good thing. Except when you have evil people posting acts of violence. Liz definitely evil. Look, theyre clearly in need of a better system. Thats quite obvious. Its just that they cant seem to be flagged quickly enough. Now you have people calling for regulation of this. Censorship, who knows. But some people are extremely disturbed by merely the fact they dont blame facebook for a murder. They blame facebook for not having that system in place to tear it down quickly enough. Right. And i know and expect the company more than a billion users to instantaneously know what posted every second. But people can complain when they see such violent content and that triggered some immediate action. Now, i dont think liz sorry to interrupt but torte of mentallydisablede white man by four africanamerican, you know, devils who were doing terrible things, and they posted that on facebook as well. There was major outrage for that. As well there should have been and facebook should have moved before this to at least make some headwind on this problem. Now, i dont think that government regulation is the answer, first of all, under what law would the government intervene when facebook and other social media allows people to post their own content. And i think that, you know, its a slippery slope because then would you have some government sensor saying you cant post this because it might be seen as encouraging violence. But if facebook, twitter, and other social media giants dont do a better job policing themselves, the outrage is going to build. Liz yeah, and the regulators are going to have more reason there. Lets show you what some people tweeted to us to lizclaman yesterday because we were asking them should facebook be regulated . Mary writes fine facebook big bucks for leaving the murder video online. But then Rodger Madison wrote regulated and puts that in quotes is never a good thing. Currently we are removing two regulations for each new regulation. Facebook removes such thing once detected, its self regulating. And finally, theres this one. And its obvious that paul revere believes that regulation is punishing the wrong party. Liz, why is it that someone commits a crime, they want to punish the innocent . Punish the criminal. Well, the people who commit these heinous acts, now steven taking his own life. Im with rodger saying regulation is not the answer and how would you fine facebook . What law did facebook violate . But i understand that people want some solution to this and zuckerberg put out a series of statements before he addressed it at the Conference Today shows the company understands its vulnerability in the court of Public Opinion on this. Its got to do a better job. Liz yeah, if we regulate them for that, you have to regulate a baseball bat maker like louisville slugger. Someone picks it up and smashes somebody in the head. Cant have that. Howard, good to see you. Good to see you as well. Liz weve got the closing bell ringing in 39 minutes. Weve got United Health group, the leader Goldman Sachs as the lagger. But right now, i want to dip right into those cameras that are in wisconsin at the snapon tools. And heres President Trump. These are great people, and i love the workers. Doing a good job for the workers, and im thrilled to be back in wisconsin. The optimism in this room is the same incredible spirit that is sweeping could our country and even greater than that great day in november when i won the state of wisconsin, and we won the presidency. That was a great day. [cheers and applause] that was a great day and thank you, wisconsin. No administration has accomplished more in the first 90 days, that includes on military, on the border, on trade, on regulation, on law enforcement. We love our law enforcement, and on government reform. Today, were building on that optimism. Im proud to announce that we are about to take bold, new steps to follow through on my pledge to buy american and hire american. [applause] i cant think of a better place to make this announcement than right here with snap on. Just took a tour of the company. Big place, by the way. Doing well too. Standing among the workers who make the tools that will rebuild our nation, your craftsmanship is incredible. Its a pleasure to see my good friend Governor Scott walker. He has been such a big help. He has been so incredible. Stand up, scott. [applause] governor walker. As well as senator ron johnson. We worked hard together. Thank you, ron. And although he could not be here today, my thanks go to speaker ryan, who has represented this city for nearly two decades in congress. And you know where he is . Hes with nato and so he has a good excuse. I said ron, make sure these countries start paying their bills a little bit more. Theyre way, way behind, ron. Im going to talk to you about that, ron. But, paul, youre over with nato, get them to pay their bills. And, ron you have to work on that too. And scott, wisconsin, you dont have to bother. Well keep you right here. For a little while, at least. Also with us is a famous local resident, the pride of kenosha, Reince Priebus. My chief of staff. Where is reince . Where is he . What a good man. There he is. [applause] in fact, we flew over his house on the way up, and he got all excited taking pictures of it. Reince went to school right here just about a mile away where he took his wife sally to the prom, and that was a match made in heaven. Very nice. I also want to thank treasury secretary Steve Mnuchin for being with us today. Secretary mnuchin is working to put together a tax reform plan to make our industry more competitive and also to provide a level Playing Field for our workers. We dont have a level Playing Field, believe me. Youre going to have one very soon. And our tax reform and tax plan is coming along very well. Its going to be out very soon. Were working on health care, and were going to get that done too. Our education secretary betsy devos is a where is betsy . Shes around here some place. Stand up. Thank you, betsy. [applause] secretary devos is working to ensure that our workers are trained for the skilled, technical jobs that will in the future power our country. Im excited to be joined today by students from Gateway Technical College and remember, the College President ryanalbreckt. Thank you. Thank you, brian. Your partnership with snap on is a great example of why Vocational Education is the way of the future. When i was growing up in queens, we had Vocational Schools, they were great. We dont have schools like that so much anymore, but were bringing them back. Vocational schools. These are very talented people that love that type of work, and its great work. It really is great work. So Vocational School is going to be a big factor in the trump administration. Together, were going to do everything in our power to make sure that more products are stamped with those wonderful words. Made in the usa. [cheers and applause] in the old days, we used to use it, we dont use it so much anymore. Were going to start using it again. Made in the usa. For too long weve watched as our factories have been closed, and our jobs have been sent to other far away lands. Weve lost 70,000 factories since china joined the world trade organization, and youve seen that. Youve heard about it. 70,000. The world trade organization. Another one of our disasters. But this election, the American People voted to end the theft of american prosperity. They voted to bring back their jobs and to bring back their dreams into our country. Thats why im here today. In just a few moments, i will be signing a buy american and hire american executive order. You havent heard about that in a long time in this country. With this action, we are sending a powerful signal to the world were going to defend our workers, protect our jobs, and finally, put america first. [cheers and applause] i see all the make America Great again hats. Thats a good those are good hats. Through the years, snapon tools have been at the center of our industrial life. Your tools have fixed cars our families depend on. Theyve sailed with the fleets that patrol the oceans. They fix the planes that cross our skies, and snapon tools have reached the heights of space used by astronauts in orbit to carry out their very, very important work. And i dont know if you noticed recently, i signed a very big order, were going to spend again on nasa space program. And thats something we need, and we also need it psychologically. But its going to be very exciting. [applause] the buy and hire american order, i am about to sign will protect workers and students like those of you in the audience today. This historic action declares that the policy of our government is to aggressively promote and use americanmade goods and to insure that American Labor is hired to do the job. It is america first, you Better Believe it. [applause] its time, its time, right . Its time. First, we willfully monitor, uphold and enforce our buy american laws which we havent done. Buy america laws require that when the federal government buys, builds or funds a project, domestic goods and products should be used. But over the years these buy american standards have been gutted by excessive waivers and reckless exemptions. The result has been countless jobs and countless contracts that have been lost to cheap subsidized and lowquality foreign goods. With this order im directing every Single Agency in our government to strictly uphold our buyamerican laws, to minimize the use of waivers and to maximize made in america content in all federal projects. [applause] its time. For the First Time Ever we will crack down on foreign bidders that used dumped steel and other subsidized goods to take contracts from workers like you. They take them away and they have been doing it for a long time. Not going to happen anymore. [applause] we are finally standing up for our workers and our companies. In short, this order declares that american projects should be made wh american goods. No longer are we going to allow Foreign Countries to sheet our producers, and our workers out of federal contracts. Everyone in my administration will be expected to enforce every last buy american provision on behalf of the american worker. And we are going to investigate every single trade deal that undermines these provisions. Secondly, we are going to enforce the hire american rules that are designed to protect jobs and wages of workers in the United States. We believe jobs must be offered to American Workers first. Does that make sense . [applause] right now widespread abuse in our immigration system is allowing American Workers of all backgrounds to be replaced by workers brought in from other countries to fill the same job for sometimes less pay. This will stop. American workers have long called for reforms to end these visa abuses, and today their calls are being answered for the first time. That includes taking the first steps to set in motion a long overdue reform of h1b visas. Right now, h1b visas are awarded in a totally random lottery, and thats wrong. Instead, they should be given to the mostskilled and highestpaid applicants and they should never ever be used to replace americans. No one can compete with American Workers when they are given a fair and level Playing Field, which has not happened for decades. Were using every tool at our disposal to restore the American Dream. In fact, when it comes to wasteful, destructive jobkilling regulations, we are going to use a tool you all know very well. It is called the sledgehammer. Thats what were going to use. Were also going to stand up for our Dairy Farmers in wisconsin. [applause] and ive been reading about it. And ive been talking about it for a long time. And that demands really, immediately fair trade with all of our trading partners and that includes canada. [applause] because in canada some very unfare things have happened to our Dairy Farmers and others. Well start working on that with ron and with scott and with paul, with all of your representatives. Whats happened to you is very, very unfair. Its another typical onesided deal against the United States, and it is not going to be happening for long. So, scott, you and ron and myself and paul and well get together and well call canada and well say, what happened . They might give us an answer but well get the solution, not just the answer because we know what the solution is, all right . [applause] if you guys cant do it, well bring maybe reince. Reince, are you ready reince . We better bring reince back. Well get that done. Well work on it very hard. Well work on it immediately starting today. It is a terrible thing that happened to the farmers of wisconsin. The fact is nafta has been a disaster for the United States, a complete total disaster. We have all sorts of regulations that are horrendous. We want it started to negotiate with mexico immeel we have provisions where you have to wait long periods of time. You have to notify congress and after you notify congress, tough get certified. And then you cant speak to them for 100 days. The whole thing is ridiculous. Nafta has been very, very bad for our country. It has been very bad for our companies and our workers. Well make some very big changes or we are going to get rid of nafta, for once and for all. Can not continue like this, believe me. [applause] big things will be happening on trade with other countries over the coming months. And i mean very big. Were also working with congress on tax reform and simplification. And were on time, if we get that health care approval. So press everyone of your congressman. Press everybody, because we want to get that approval. It just makes the tax reform easier and makes it better. It will make it steeper. It will be bigger. Thats what we want to do. Were in very good shape in tax reform. We have the concept of the plan. Well announce it very soon. Health care, we have to get the health care taken care of. As soon as Health Care Takes care of, we are going to march very quickly. Youre going to watch, well surprise you, right Steve Mnuchin . Right . Secretary of treasury. [applause] i see sean. Stand up, sean. Stand up. You know i had no idea, i was told a year ago, he has been so great to me, i was told like a year ago, World Champion climber, climbing trees. Every time i look at him, now i look at him differently. I am very impressed with sean. He is very good on television and very helpful. Thank you, man, thank you. Well be making Big Investments in rebuilding our military and repairg our badlyhe depleted infrastructure that will happen soon, also. Infrastructure, big infrastructure bill. Probably use it with Something Else a little bit harder to get approved in order to get that approved. But infrastructure is coming and it is coming fast. New ships, bridges, tunnels and airplanes will be constructed with american hands, american steel, and yes, american tools. [applause] as we work to restore the American Dream at home, were also working to restore americas standing abroad. That means strengthening our partnerships, and insuring that our friends and allies pay their fair share, and that very much includes, as i have already said, in my little statement to paul, it also includes the nato companies and countries. They are really sort of letting us down in that one respect and we dont want people taking advantage of the United States. It will not happen for very much longer. Im going over there very soon. Were going to have it. Everybody is going to be paying. Well be a much happer country, well be a much happier world. No matter of the circumstances everyone will know we act from this core conviction, that americas strength must be unmatched and its First Priority unquestioned, the safety and security of our citizens. This is the surest path to a more peaceful and prosperous world for us all. Together we can build a Better Future in the spirit of this companys earliest days. Great company, great history. I recently learned that decades ago in the 1920s when your salesmen enter ad dusty a repair shop, or a stained, nice beautiful stained garage floor which i have seen many of, he will find a spot to lay out a beautiful green felt mat. The people of the Company Knows what that means. On that green felt mat he would carefully place a gleaming set of new snapon tools. The founders of this company wanted their customers to know that the tools of the mechanic were just as important as the tools of the doctor, the dentist, the politician, or the business leader. And that his craft was a noble, noble craft. As noble as any. This is a wonderful story about your company, and its wisconsin heritage. And wisconsin has a truly great heritage and its led by incredible people. But it is also a story that tells us a lot about the american spirit. In america we honor work. We honor grit. We honor craftsmenship. We honor the men and women who turn dreams into reality. With all two hands. In america we honor all of you. We are a nation of builders. We are the country that dug out the panama canal, that put a man on the face of the moon. That linked our cities with majestic railroads and curving highways. We are the country that is always on the cusp of the next invention. But we can only get there all of you. We can only restore this nation we love so much by working and building with all of you. We can only get there together. We are the one people, sharing one destiny, saluting one great, beautiful, American Flag. Im thrilled to be here today to celebrate our Great American heritage. And to proud did i embrace our Great American future. I want to thank the people of wisconsin for doing so much for me. That is why i came back here. And not just for the company, frankly, for the people of wisconsin. You have been so incredible, to me and my administration. And we will never, ever, let you down. God bless you, god bless the american worker, god bless the American Dream, and god bless the United States of america. Thank you all very much. Tremendous honor. Thank you. Thank you very much. Liz the president picking a location where 14 years ago wisconsin snapon tools had to close the kenosha plant. That left hundreds without jobs. President trump promising quote, well change nafta, the nafta trade agreement or get rid of it, get rid of it for good, end quote. He wants more products stamped with the wonderful words, made in america. We should tell you this appearance is more than symbolic. Within next couple minutes we expect he will sign, buy american, hire american, that executive order. It appears he is doing it right now. As we continue to watch that, that order is aimed at promoting u. S. Jobs. Again it is an executive order. It is not something that is being passed by congress at the moment. Lets bring in strategists from both sides of the political spectrum. Republican strategist eric beach, democratic strategist, kathy arue. By the way, both of you he brought up tax reform mulitple times. I brought up what the dow was doing at that point. It was down 110. It went down to 95. Now it is down 105. Kathy i look at that, i think to myself, maybe it isnt the fact that Steven Mnuchin said well not get tax rerm sooenough because were still down 100 points. I dont know whether we should believe him or not. We need the tax reform and thats what were waiting for. He is busy distracting, no one understands that this executive order will create more american jobs. An economist i talked to said economy and not pr campaign or not an executive order. Only time will tell. Only time will tell whether that happens. Experts i talk to are not sure this executive order means anything. Liz the message was helpful in a state like wisconsin a state he won, what jumped out at you besides the we want more products stamp withed wonderful words . He said he will enforce buy american rules and hire american rules but will congress agree to that . I thought it was one of the best speeches he has given as president of the United States. Buy american, hire american, is more than a slowing ban. It represents why donald trump won in the first place. It is to represent the american worker. The dow is still up 2,000 points since november 8th. There is a culture of confidence in the United States and really starts with ceos making sure they want to hire American Workers. He talked about the h1b visa program which is a great program, its a random program. Its a lottery. Why not pick the best and brightest, most skilled workers . Talking about Vocational Schools, making sure we educate our workers, our students to become welders and mechanics things of that nature, that pay american jobs . So he is continues to talk about that culture. I thought it was a great speech. Liz i want to bring in Charlie Gasparino who joined us on the set. You have a reason you think the market didnt suddenly turn green . Yeah, listen, he said some good things. I should point out my dad put me through college and my brother through college from a Vocational School education, Samuel Gompers school in the bronx. Oldtime Vocational School. He made a good points. Th is where he speakinged the market a bit. He talked about tax reform, you will get it. Im paraphrasing in order to get it, well Pass Health Care reform. That is important. If we can Pass Health Care reform, tax reform will be bigger and steeper. What he is essentially saying, the expectations that i built in during the election, 20 Corporate Tax cut, taking down the seven rates squeezing them to three. Guess what . If we dont get health care reform, that aint happening. That is why you saw the markets turn sideways and everything. Liz kathy, he talked about h1b visas. He and eric just touched upon that often they will hire foreigners and pay them less. However, we did some research. We looked at companies that use a lot of h1b visas workers and ibm, microsoft, google, amazon, apple, intel. Between them, multiple, multiple thousands and thousands of workers. That brings up the question, theyre making more than six figures at this point. We need h1b visas as he mentioned we need people with technology backgrounds. We dont have the Vocational Schools in the United States. We dont have people learning skills that ared intoed. 80 of millions of jobs lost in manufacturing have been to automation, technology. Has not been to a foreign worker. When he mentioned Vocational Schools and training, i was very happy with that because that is what is actually needed, not the a buy american first, employees should be american. That is not the message. We have to train our American Employees and workers so they can fill the 1. 4 million jobs we will have in 2020 that we can not fill at the moment with our current workforce. Liz eric, i would think that people at facebook or Silicon Valley Companies Might take umbrage with what he said. No one can compete with American Workers. That is why he wants to really clamp down on h1b visas, k8 and high schools are not teaching coding properly. Theyre not Teaching Software engineering, engineering and that is where the chinese, india, they beat us on this. Sure. He also combined it by saying we lost0,000 70,000 jobs since the china lost the world trade organization. He is talking about the opportunity that exists, both in terms of technology but also really bluecollar jobs all across america. You have to build that culture of confidence i mentioned earlier, not just that ceos will hire them but our people are being educated k8 and in high school to be able to do those types of jobs. So i think it was a great speech. I think he focused on all the right points. Again it is not just a symbol to say hire america, great america. We are the best and the brightest. We should be able to bring that together and make sure our workers are being trained properly. Liz eric, kathy, thank you. Charlie, when you heard the point about tax reform. That usually in the past has been real jet fuel to make is market skyrocket. We are down 99 points. Were certainly below that tripledigit loss threshold. We should point out the markets have been down 600 points since early march. They havent been up. That is when he backed away from the tax reform stuff and here is something interesting, before we got, before the speech we did an exclusive interview with mark cuban. What was interesting about this is mark cuban has been a constant critic of donald trump. Supportedded hillary clinton. And heres what he told us. That he he is warming up now to the trump presidency. That was before the speech. This is very populist speech. Why does cuban like the new donald trump over last couple weeks . Much more idealogical diverse he says. He likes the fact that gary cohn, democrat, head of the nec, National Economic council, ivanka, his daughter playing a role and Jared Kushner, his soninlaw, theyre all democrats, theyre playing a bigger role within the white house. And he actually said at one point, were going to write this up for foxbusiness. Com, that gary cohn is leading a democratic invasion of the white house and thats why he he thinks is starting to moderate on several issues. What he pointed out to us Economic Policy mainly. That you dont, you hear him walking back tax cuts unless they can get big savings from health care. You hear him talk less about nafta, except for here. He did mention nafta here. Liz very forcefully. That is what i think is interesting. I really wonder, this is interesting with donald, you dont know where he is really going. Is he trying to feed red met meat to the masses by stopping and a half at that or is he really planning to do it. If gary cohn has his druthers, ive known gary cohn a long time when he was number two at Goldman Sachs, ivanka trump has his druthers she makes a lot of clothes overseas, Jared Kushner, they will not redo nafta. Liz he gave a very warm greeting in the Reince Priebus, last couple weeks he was fighting for his job. Liz reince saw his house out the window. Because Reince Priebus is a from wisconsin. You saw his house outside air force one. He was excited. You remember couple weeks ago we reported two aides were on the out as democratic invasion of gary cohn and ivanka trump and Jared Kushner is happening. One of the aides was steve bannon. He is obviously still, although i hear his job for now is safe. People are telling me for that. He sort of has been downgraded. His other is Reince Priebus, chief of staff. A lot of people blame him for not Getting Health Care overhaul passed through congress. He is friends with paul ryan. He is from wisconsin. He couldnt make the sale. How do you say his name, reince . Liz reince. It is me. Took me a long time to say Jeff Sprecher right. Liz sprecher. Im going to hit him. It sounds like reince is okay. I will say one thing, donald could change tomorrow. Liz charles live, thank you so much. Charlie gasparino. Closing bell eight minutes away. Dow still down 98 points. Bouncing around. Down 98. While President Trump is out waving the buy American Flag, jason katz of ubs says when it comes to your portfolio, you might want to back off on that and take a whole different approach. Where on the map he is putting his clients 2 billion in assets to work. Countdown coming right back. Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com liz just looking at yahoo stock hitting a twoyear high as the company gets set to make the final Earnings Announcement before verizon buys it and renames it altaba i hate that name what does it mean . Big blue reporting after the Bell Lori Rothman with a preview. Hi, lori. Couple of biggies, Goldman Sachs, j j contributing to a cracked market here. Lets cross our fingers for yahoo and ibm. Yahoo is up. 4 ahead of last report. The company is history of being pretty volatile in the wake of earnings. Plus or minus move. Could be a rollercoaster ride for yahoo . Look at ibm. Ibm is noun a little bit. Fullyear guidance will be key as they shift from legacy computers to Cloud Strategy and Artificial Intelligence and cybersecurity business as well. Well leave it there, cross our fingers that earnings give us a positive catalyst. We need it right now. Liz i would say so, were down 105 points with two minutes before the closing bell. Make it three. President trump just insisted buy american but a barrons topranked Financial Advisor said not necessarily when it comes to your portfolio. He is right here, ubs senior Portfolio Manager manager jason katz. Youre looking across the atlantic to put some of that two billion in assets you manage to work. Why . First of all, thanks for having me, liz. Not that constructive on u. S. , were very bullish for a number of reasons. The fact of the matter is, european economy arguably improved to a better degree than ours. While the valuations have improved, it hasnt been to the same extent as ours. So from valuation perspective europe looks extremely compelling. Liz one of our traders saying europe is a disaster. I think europe is coming out of it, although the French Elections two weeks away could shake things up. Could you ride out that storm . Im not necessarily concerned about scheduled political events. It is unschedules ones are disconcerting to me. Regardless of the outcome i still believe the european economies are on track. There is a tremendous opportunity. Polls are far enough there unlike president ial election or brexit were not dismissing possibility of outcome that will catch us offguard were not as signing a high probability. Liz youre looking at health care and technology overseas. Siders here in the u. S. That have u. S. Companies as you speak to the retail audience right now, how do you find great deals in those sectors sides. Within u. S. , 10year dropping to two odd somewhat , steepening yield curve and deregulation that should bode well for the financials. As far as energy, deregulation, xl pipeline, Dakota Access pipeline i think bodes well for the Energy Complex especially if we think the global economies are improving. Liz youre looking for a tiny correction not a big one . Were looking for gardenvariety correction . Liz how many points off the highs . Trading range, perhaps 5 pullback. A number of reasons that are constructive. Liz do you think well gain and reach 21,000 on the dow by end of the year once again . From these levels we think we have five or so upside. 5 could do it. [closing bell rings] liz jason cats, ubs Portfolio Manager, bunch of barrons best. Were well off the lows. Were waiting ibm. A lot of you hold the stock. David and cheryl have the earnings on after the bell. Neil markets ending well off their lows still solids any the red. The dow erasing half of yesterdays gains. Hi, everybody, im david asman. Cheryl im Cheryl Casone im in for Melissa Francis this. Is after the bell. We have you vered on big market movers, here is what else we have for you at this hour. Buy american, hire american. President trump signing a new executive order moments ago to create more job opportunity for americans. With this
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