The hurricane is on a collision course with south florida. North korea says it detonated a hydrogen bomb. A tough week for investors. The dow, nasdaq and s p all closing down for the week. Equifax the latest victim of a security breach. They say it happened in july of this year. It includes birthdates, addresses within in some cases drivers violence numbers and credit card numbers for 200,000 consumers. They detected the breach a month ago. Amazon announced its looking for a second Corporate Headquarters in north america. It will provide 50,000 jobs and cost 5 billion. Back to you, maria. Maria the market took a hit on north korea fears and quickly stabilized. When yield on Corporate Bonds are lower than corporate stocks, blankfein said that unnerves me. I share his concern. But its nothing new. It started with the feds pushing Interest Rates down. There is 44 of the stocks on the s p with higher dividend yields that fortune companies. The market sees them as lower risks than the u. S. Treasury. So you have i think it feds unuse Monetary Policy has creates these distortions. But the fed is starting to normalize rates which will lead to a better allegation of capital. It does start the shot clock on the recession sometime down the road. But its better. You want free markets to work. You dont want them to be manipulated by the central bank. Maria you are the second person today who brought up the word recession. Im talking about the growth and the treasury, Steven Mnuchin is talking about 3 growth. Where is this recession idea coming from . I dont think its going to happen for quite a while. Higher inflation, and a policy error and the third is an event like the oil shock. None of those things are present now. I think the policy looks good. Inflation is very tame. The point is you want a situation where you have companies both succeed and fail equally. You dont want a situation where no one fails because that create a lot distortions in the market. Eventually you will have a recession. You want free markets to work. You dont want a rigged system by the central bank. Maria what are you expecting in terms of tax reform. Well talk with the treasury secretary in a moment about the debt deal between the president and democrats. Republicans are saying this will get in the way of a tax package by year end. As an american frankly im kind of thrilled that the president did this. Maria you didnt want more fights. You cant have two armed camps who never talk to one another, who never create deals. Im a republican so i understand the republicans frustration. But the leadership can never close. As a market person i say this does complicate the ability to get tax reform or tax cuts sooner. But if you get to a better outcome as a result and the country start working together politically, i think thats a good outcome. I think its going to work out again. Maria what do you want to do with your many . Year look at a nice game since election day. You have got an economic backdrop that seems to be getting better. Our strongest conventions have to do with the banks and the financials. Certainly the large Money Center Banks and some of the regional banks as well. One thing that is already happening is you are seeing significant deregulation of the financial sector. That will be good for their profits. Bank america doubled last year and its trading below book value. You have a lot of opportunities there. That can happen without congress and largely by the fiat of the president and his appointments. So thats the place where i feel most of strongly. I like industrials. I like defense companies. I like tech. We like the old line tech. But well be careful on fanning, facebook, apple, netflix and google. Announcer treasury secretary Steven Mnuchin focused on tax reform. Maria gets the straight answers next. [notification tone] i love your vest. Your crocheted purses have wonderful eyes. 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There was discussions about a oneyear deal on the table that would have required a oneyear deal for the cr and the president s priority is to refund the military and get additional funding and he didnt want to give that up. Thats the president s priority with whats going on in north korea and other parts of the world. Everybody in the room is very clear that well never let the government default. Maria but doesnt this give the democrats so much more leverage come december . When we talk about these legislative priorities on your plate. You have been great on pushing tax reform forward. Look at december 15. Look at december when the debt ceiling limit couples again. Wont the democrats say we wanted this, that and the other thing in terms of tax reform . I would say the best part about this is this clears out the next 90 days for to us focus on important things. We have the funding for harvey, year focused on tax reform. We are going to work the two committees on that and get that down to the floor so we can have a bill passed for the president to sign. Maria lets talk about tax reform. We know there are only a few days left in terms of legislative time. Is this a First Quarter tax cut plan for tax reform . Can you go through what you see as viable . I think its viable to get it done this year. I have been working on this since january with the leadership. We made a lot of progress. We are meeting again today. There is a lot thats done. The major blueprint has been outlined. It will go to the committees. The committees will add to different parts of this. We are hopeful we can get it done. Thats the president and my number one priority at the moment. Maria where is the common ground. You talked about the corporate rate. You want to get it down from 35 . The highest in the trialized world. What is done . Tax simplification, 95 of americans will be able to do their taxes on a big postcard. Its about creating a middle income tax cut, its about make our businesses competitive. We have one of the highest rates in the world. We need to make this competitive so money comes back so the companies can employ workers and puts that money to work in america. Thats what the president talked about in north dakota and he will continue to talk about. Maria i am looking at a story from inside if the freedom caucuss tax plan. They have their own plan that will come out in the next couple days. How is it different than your plan . Steven im meeting with them today. I hope there isnt an intents on a separate plan. There is one plan. The committees can add what they want and it will go through. The members will have the opportunity to make changes. But we are optimistic about getting tax reform done. Maria the issues that have been leaked from the freedom caucus. They want to cut the Corporate Tax rate, abandon the differ dpenld knew traltd. Does the plan need to be deficit neutral . Steven we said all along we are focused on the size of the dead. It has grown from 10 trillion to 20 trillion. We want to be financially responsible. But we believe we can get to 3 gdp which will add revenue. Under the joint tax numbers with lower scoring when we get to it, that will be one of the things the committees will have input on and we have levers that can move the plan to adjust it. We would like to get the corporate rate as low as we can. The president said since the campaign, ideally we get it down to 15 . Well make sure we have a competitive business rate when we get tax reform passed. Maria some people will say there is no way i can vote for something that eliminates the deduction on state income. If you dont get those agreements, would you be happy with just cutting taxes . Steven i think we said our objective is to do comprehensive tax reform. It hasnt been done in 31 years. Thats our objective and thats what we are trying to do. Maria do you think you can have agreement in the next 12 days . Are you talking about the year end or before thanksgiving . Steven we are talking about between now and year end. Things can change. A lot of things can occur. There are major hurricanes and big issues people are focused on. Our objective is to get this done as quickly as we can and our objective is still to get it done this year. Maria i wonder if anything has changed after yesterdays meeting. Are you worried about a gop revolt and are you worried come december the democrats have all the leverage. They may say we are not going to agree to cutting taxes on the rich by one penny. If you dont cut taxes on the highest earners you are not for cutting taxes because highest earners pay all the taxes. Steve steven im not worried about a gop revolt at all. We have been meeting with them on the tax plan and have an understanding on the tax plan and moving forward on the tax plan. Thats something we are focused on doing and we are working with the leadership every day and i hope we have democrats come across the aisle and support tax reform. Maria are you saying nothing changed yesterday as far as the democrats having more leverage. Steven yesterday weave cleared the next 90 days to have more focus on taxes. The president and i are focused on selling this to the american people, why this is good for the economy and why we need this. We have to create Economic Growth and thats what this is all about. I suspect well have democrats that understand that and will come along and vote with us. Well have much more when wall street week comes right back. Announcer amazon doblg up whole foods. So what does this acquisition mean for you and your shopping cart . I didnt know where i was from ethnically. So we sent that sample off to ancestry. My ancestry dna results are that i am 26 nigerian. I am just trying to learn as much as i can about my culture. 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Maria consumers are seeing the impact of amazons acquisition of whole foods with lower prices. But it will also impact the Home Delivery business. Adam, great to see you. Explain what Home Logistics done as how you are trying to expand into a whole other area of industries. Homer helps businesses run local deliveries to their consumers in the same day or faster. We work with restaurants and liquor and we enable businesses to deliver products to their customers in a timely fashion. Maria you started with restaurants. Do you want to the work with home dough pose and Convenience Stores . We have moved into groceries and vert kals. It helps us employ your workforce at other hours outside just lunch and Business Time when restaurants are busy. Maria when amazon first announced the acquisition of whole foods all the grocery stocks plummets. Amazon is a very unique company. When they put their weight behind something it can change a market. I think it puts them in a unique position to have a lot of Distribution Centers centrally located close to their customer base. And it will be interesting to see what they do with meal kits. . Grocery delivery is popular. Maria you have all these companies and industries biting at your heels trying to do what you are doing. You have got even the ubers of the world wanting to become delivery services. How are you going to compete in this environment . Thats a great question. We focus only on the picking up and dropping off of the products. Most of of those companies that you mentioned, the ubers and amazons, they want you to order through their platform to own that transaction. We decided we dont want to get too spread thin in our skill sets. We want to focus on an efficient way to pick up these products from the business and deliver them to the customer. Thats how we were able to separate ourselves. Maria thats a good answer. But when you look at a company like even a ford motor. The ceo of ford was calling ford a mobility company. Everybody is trying to get in on this idea of mobility. Whats the Business Model in competing with the giants around you. One of the main differentiators is we are an employee first organization. Most of of these companies have utilizing their workforce and engaged with them in a contractor model and have them work as independent contractors. We employ people in a w2 model. It gives us the chance to brand the experience and we think that results in a better customer experience. Maria homer logistics is the company. Adam price there. 367. More wall street week after this. Its easy to think that all Money Managers are pretty much the same. But while some push High Commission investment products, Fisher Investments avoids them. Some advisers have hidden and layered fees. Fisher investments never does. And while some advisers are happy to earn commissions from you whether you do well or not, Fisher Investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. Maria lets look at some of the big market events in the week ahead that could impact your money. Some key data reports will be out. The p. P. I. , and retail sales and consumer sentiment. That will give us a good window into how the consumer is doing. On the political front. Congress has its plate full, flood understand, daca, childrens understand and Defense Authorization bill. All in the todo couple. And aid for the victims of hurricane irma. I hope you will be here next week. Ill see you sunday morning on the fox news channel. Im bob massi. For 35 years, ive been practicing law and living in las vegas, ground zero for the american realestate crisis. But it wasnt just vegas that was hit hard. 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