Investments and we need to make sure our u. S. Businesses are competitive. Gary any growth wouldnt come until 2018. Our first guest is dan skelly. Dan, the meerkt is optimistic about a tax plan thats yet to be unveiled. Mnuchin talked about the hopes to have this plan passed in august. Are you starting to get worried this could get bogged down because the expectations are that this would have been sooner rather than 2018 impact. Its coming on the back of a decade of having very little fiscal spending. We could see some volatility in the middle of this year. But we think the tax deal gets done. We think the market can grind higher afterwards. Trish require doesnt matter trish it doesnt matter when it gets done as long as its done within a reasonable amount of time . Its only one component of some of the change we are seeing in washington. We will be on the lookout for infrastructure initiatives and potential changes to regulation. We are hearing a lot about the fed chairman supervisor, and sovment and some of the other regulatory bodies. There is only one components of this change. The effect it might have on retailers, the what its currently being pro poatds in n the house, you would not have the opportunity to deduct your expenses. If you think about the gap or something importing tshirts from china. They would not have the ability to deduct the cost of those goods coming in from china. There is concern in the Retail Industry that it will decimate tree tailers and you will see a lot of bankruptcies if its successful. The question is how much of it is priced in today. We have seen a correction by a lot of the retailers the last quarters. And also on the fundamental pressures. Huge losses to ecommerce. So its not just risk and the valuation risk around tax, its the fundamental pressures you are seeing on retears and we tried to avoid that space. Gary dance portfolio is one of the best kept secrets. And i want to go back to one more thing from mnuchinhi week. Secretary treasury did say this is a mark to market administration. The stock market has responded strong on the mark to market. But is that something you heard about this week . Is that something you are concerned about . We all know the stock market doesnt go up every day. My opinion is as follows. Yes, there is a lot of focus on the white house and some of the leadership there. But we had a dramatic change in the house and the senate. And the fact that we have a republican controlled leadership is why the mix is so low. The market is telling you for the first time in 10 years, we have the highest probability of getting progrowth policy done. The white house is trying to live up to its expectations and they are pushing expectations higher. But they may have some serious support from the house and senate. Gary give us one stock, your best investment ideas for the changes that will take place from a miss cal and ma from l and monetary standpoint. We saw stock trading at 11 times earnings with wells. Of course, wells has rallied post election with the rest of the financial space, by the hasnt regained its premium to the large cap banks. Wells typically trade at a 1020 premium. Today it trades as a discount. It rallied, but the whole sector has rall lived as well. We think they will regain their grand equity. But whats about regulatory changes . The more the market see regulatory change to the financials, that will shoot higher to the upside its fundamentals and policy. Gary its been a great two months on the stock market. We think equities are not overvalues. We think there could be 1015 upside the next 12 months. We came out of the industrial recession. We came out of that last year. If you couple that with the potential for policy improvement, fiscal spending, deregulation, we think thats cocktail for 15 upside. Gary wall street week will be right back. [ ] announcer President Trump getting down to business. This time with some of the nations Top Manufacturing ceos. 70,000 factories closed since china joined the wto. Announcer but can the trish President Trump was meeting with manufacturing ceos, and spoke with neil cavuto about the border tax adjustment proposal. Ever country in theorldas a vat that ays like a border adjustment tax. Its not fair we pay something into one country as an importer but they dont way coming into this country. Some pay like that is in the offing. Gary marty sass is joining us now. There has been so much talk about the border tax. Is this something we need to be concerned about . We have to be mindful of the winners and losers. We avoid retailers an and apparl companies. They will get hurt by border adjustment taxes. It will even courage more production in the u. S. And to balance the budget with big tax cuts we need an offset. The border adjustment tax is one of those mechanisms. Trish requirmechanisms. Trish i agree with you the retailer will get hit by this. But how big of an impact will it have in terms of Market Sentiment and our fundamental economy. We employ a lot of people in retail. If you look at it in isolation it will have a net negative impact. If you look at the lower income people, they are going to be hurt the most by this because prices will go up and it will hurt them. So. Trish donald trump is a smart man. So he understands business and the fundamentals of the economy. And i think there are a lot of smart people in the house as well. Are they not thinking this through . I think hes getting mixed feedback on this. He was negative, then turned positive. And thats where you are seeing this. Gary you are a stock picker and you have been successful in identifying trend and where to put money in terms of the global economy. You are avoiding retailers. Wh do you see as your best idea to take advantage right now of the trump view of how we see the economy and see the world . Being one who likes to buy stocks they they mate it. Great companies at cheap companies. Ill give you the most hated group of and the most hated stocks. They have been very poor performers and i think they are extremely cheap. The whole specialty farmer in bio tech sector has pockets of extraordinary opportunities because donald tweets about monopolistic drug pricing they threw the baby out with the bath water. They deserve to get hit. But companies i will suggest which is schier, so girks and alergan. They have doubledigit earnings both for the next five years minimum. 2 compounded annually for sogi. This is under organic growth. Its not assuming buybacks. Allergan trading at 5 times and shire at 10 times. They dont grow at 1 or 2 . They are selling at discounts on the markets. The market is excessively pessimistic about what this administration will do. Gary why is the bond market not buying into this growth story . U. S. Treasuries continue to tell the market mess and that we are not going to d market message that we are not going to see the bond growth. After a 35year bull market in bonds, i think the bottom in rates was hit july 6 of last year at 1. 37 on the 10year. Its creeping up gradually and it will be a jagged move. But i think we are in a long up trend in rates. It will be gradual and slow. As you pointed out, low rates around the world. German bonds hit a record low. Thats anchoring our yields down, but the trend is still up in my view. I think we are in a bear market in bonds. Trish in some ways perhaps its good to have a cap on those yields if we want to do all this spending. And if we want to continue to have a bull market. Its fine that Interest Rates go up gradually. But if they spike, thats the end. Thats where it tends to cause market crashes and that we dont want that. Good to see you. Thank you so much. Well have more on wall street week after this. Announcer the treasury secretary telling fox business the National Debt is a real concern for the president. Its a concern for me and concern for the president. Announcer why did he say its not somethingngngngng tish i have got good news and bad news. We are standing at 20 trillion in our National Debt. Thats trillion with a t. Let me just say the absolute level of debt is a concern for me and a concern for the president. And as you mentioned under the last administration, they doubled the debt. Having said that, our number of one focus is Economic Growth. We need to get the Economic Growth to solve the issues that we have in this country. So the debt is a longerterm issue, not a shorterterm issue, but something we are focused on as well. Gary sounds like getting a hand on entitlement spending and our National Debt isnt a top priority right now. But as he pointed it it doubled over the last 8 years its not as though it happened overnight. It doubled the last 8 years. Trish lets go to Cheryl Casone and david asman. If you were going to prioritize things what would it be. Economic growth and then National Debt. He said there are times when you have to worry about the debt, but now we have to worry about debt. There are times you have to prime the fusm much and this is the time to prime the pump. Defendant cities up as well. Yearbyyear deficit for the fires time in three years the 2016 defen deficit increased. So spending is a big problem. He has a good person in the Budget Department to oversee that. Cut the expenses in government. Focus on tax reduction and growth will take care of the rest. I any the debt needs to be addressed equally as strong as Economic Growth. But they dont have a plan for that. If you look at that 20 trillion. Hatch that is owned by Foreign Government at a time when our relationships with those governments david the low Interest Rates are not that bad. Lo how hh they were in the 1980s. They said we have to worry about the debt. At that point we had Interest Rates at 14, 15, 16 . And we got debt under control by growth. Reagan said to heck with it, we need to prime the pump and he turned out to be right. Gary when the prediction was made that donald trump would win the election web said trump is a guy comfortable with debt. The fact that hes comfortable with debt means he has found how to handle the cycles. But there will be times when the rates start to move you have and servicing the debt will be a concern. We had 18 Interest Rates. At that time there was not this idea that Interest Rates were such a driving impact on the on the overall global economy. We are two months into the year and you said the markets wouldnt continue the run. Do you feel the stock market has gone the ahead of itself in terms these expectations being built into the market . David people were saying during the last four years of the obama administration, the market is going bow man zas. If you x going bonanzas. If you look at where the market was before the financial crisis,ist was overblown. But not too much. It was a steady rise with a lot more to go it was stopped by those 1 growth rates during the obama administration. We had the most pathetic growth rate in history during the obama administration. Even though the market was going up, the economy was pulling it down. If we dont see action on tax cuts, thinking that the market has topped out because they are waiting for action on tax cuts, if they see that delayed much longer the market may pull back. We didnt even hit two. Now we have this opportunity. You get the fed, in the back ground it was helping things along. Now they actually have to do their job. So with all that in mind can we start to see, i dont know, 4 , 5 . Whats it going to take to rev the engine . We are in the beginning stages of that. I believe a lot of those economic plants getting him elected economic plans getting him elected in the first pl 3 , 4 growth. If you listen to Steve Mnuchin who was on fox business, he said, i am going to go for 3 to 4 growth. He wants to see that. He backed off that a little bit with maria. But at the same time, long term i think hes thinking 4 . David remember the growth rate in 1984. 7. 4 . Trish didnt you tell me your mort game was 16 . Your mortgage was 16 . Gary that does it for us and wall street week. Trish tune in to fox business if youre taking prescription medications, does your mouth often feel dry . A dry mouth can cause cavities and bad breath. Over 400 medications can cause a dry mouth. Thats why theres biotene. Biotene can provide soothing dry mouth relief. And it keeps your mouth refreshed too. Remember while your medication is doing you good, a dry mouth isnt. Biotene, for people who suffer from dry mouth symptoms. Lou Republican House and Senate Leadership walking on the tax and obamacare. Patience wearing thin. The Congress Went on recess while the president is working hard. President trump we are doing health care and march, mid to early march, well be submitting something that people will be impressed biechlt lou piniella voters may send republican ares pa