Recovered, were going to show you this a moment where they might go next. Blake burman just with asked press Secretary Sean Spicer to clarify and, boy, did he ever. The president s Economic Team is really on a mission. Treasury secretary Stephen Mnuchin and director gary cohn determined to push hard to get congress signature on their generous tax plan. If it works, its looking a lot like christmas in may for apple and, hopefully, taxpayers. The chatter ratcheting up on President Trumps proposed onetime tax holiday for big corporations to bring back billions theyve got parked overseas. Apples share of that pie is the highest, some 232 billion. Could come back here and be spent here. And despite online pirates circling netflixs ship, shares are fishing for the 16th record close. Plus, elon musks tesla and spacex thrusting to new highs. After the bells Melissa Francis on the money lessons she learned at a young age on a classic tv show set that will work for you, and charlie breaks it in Beverly Hills . Thats my hometown. Hes going to talk about the blue state freakout over the president s tax plan. Were less than an hour to the closing bell, lets start the countdown. Liz breaking news, we need to show you bank stockings. They are battling back after getting a jolt from the white house. Heres a what tripped them up. 21st Century Glass steigel, but its something we talked about on the campaign trail. It shouldnt be a surprise to anybody, but it is something that is currently being looked at. Sarah . Liz glasssteagall is the depressionera rule that kept investment banks separated from actual consumer banks. But, you know, under bill clinton they got to go back together. It was great for the banks, but some believe this is what caused the financial crisis. Sean spicer confirmed just what the president told bloomberg, that he is prepared to break up the big bankings. Jpmorgan going into freefall just hours, about two hours ago at 12 53 p. M. Thats when bloomberg published an interview with President Trump in which he talked about precisely that, breaking up the big banks and bringing back glasssteagall. The freakout momentary. These stocks are trying to fight back, Goldman Sachs almost looks like the same chart, bank of america the same thing. You see that drop and then, of course, the comeback. The tremor coming at the onset of a week potentially full of marketmoving events. Tomorrow earnings from apple, wednesday the fed announcement on tap plus possible votes in congress on the spending bill and the Health Care Bill. Thursday, more earnings including viacom, and on friday the allimportant april jobs report. Busy, busy week for business. Heres how the markets are shaping up ahead of that news. As i mentioned earlier the dow is moderating here, up about 12 points, s p better by 8, the nasdaq on track for another record here, up 47 points. But let us scrutinize what the real potential to move your money this week really would be. Is it big name earnings, the feds meeting with begins tomorrow . Traders at the new york stock exchange, cme group, and, scott redler, what will move it . Is there something on that list that you think is going to be the real driver . I think its all important because you have apple on tuesday and techs been leading. The last thing the bulls want to see is a good quarter by apple, they open it up and sell it off and that caps the tech rally, but i dont think that happens. I think if the fed be shows theyre still on track for a june hike, i think traders want a little bit of buy pressure on the banks to keep them elevated, and the small caps, so if they think its going to be june, those two sec fors could take cash above 2400. Liz apple right now has touched its highest leveling ever. It is doing unbelievably well, up about 25 . No, were just off the highs of the session. Its up 2 . Ira, lets not ignore what the president also said to bloomberg, and that is that hed consider hiking the gasoline tax. A lot of people, including im thinking mike be jackson of auto nation who is, hes a republican. He has felt that the time to hike the gasoline tax is when gas prices are cheap. Theyre not as cheap as they were a year ago, but theyre certainly a lot less than, lets say, two years ago. Yeah. And i wrote on in this morning, and its surprising im writing on it again. Liz good. I think the time is right, and i think the president s on a good track here. Other countries gasoline is much more expensive than ours. We dont subsidize. We can go up a little. Think about it, we have electric cars that are going to make up 20 very shortly of all cars sold, youre going to have increased gas mileage, were looking at that. The average age of a car on the road has been, what, shrinking . We know that right now its about, what, ten years, something in that area. Is so im of the opinion if were going to do that and find the way that all parties of congress can find the common element, a gas tax makes a heck of a lot of sense, and the time is right for it now especially if it brings us infrastructure. Liz scott redler, lets look at i dont even count the fed. Am i wrong about that . We are expecting them maybe to say theyll be slimming back down their, what is it, 4 trillion balance sheet, but is there anything they could say that might gyrate beyond raising interest rates, really gyrate peoples stocks . I think the streets expecting them to ratchet down their tone because growth has moderated a bit. Some of the economic numbers have been a little bit weaker, but i still think the probability is high for june. I dont think the market wants to hear its pretty much off the table. Think they want the rates to go higher in june to keep that bid underneath the market because the banks and the small caps have been the backbone of this rally besides tech. So i think they want to make sure that, okay, the economys on track, not overheating, and theyre still on track for june, and i do think this rally could be maintained and maybe even go higher throughout the course of the week. Liz ira, lets not ignore what we got today, and that was some econodata. The april manufacturing index. It was a mis, but this after i guess it was sort of the weakest print of the year. But of the 18 industries surveyed, the only one to decline was apparel. So were only still at pretty decent levels here. Then we got march Construction Spending falling after five months of increases. Is this just a pause, or is it the start of something that might be a little bearish . We know that retailings had a problem. Liz the retail ice age. Right. Well, that could also be amazon eating retails lunch. Right. Well, that is eating it. There is one thing that i think we should all look at. What if opec doesnt extend the cuts . What happens and what does the fed do in june if all of a sudden the bottoms pulled out on crude . Im not saying itll happen, but its a possibility if russia doesnt go along with opec. And, lets face it, any move where they dont keep it up, oils having trouble going to 50 i now. Does that mean 40 . Thats a problem for the fed. Liz thank you so much. Scott, ira, well see you next time. Facebook and apple are not the only biggies this week. If its may, its berkshire hathaway. Friday we are live in oklahoma, nebraska, kicking off weekend with warren. Berkshire earnings friday, then saturday ill be right back in the thick of it like that scene right there, because its the annual shareholders shindig. 38,000 minimum attendees, and everybody swarms around Warren Buffett, and look whens there, fox business. Team fox business will be there covering every angle. And then monday, one week from today, i go one on three with the richest minds as we call them, Warren Buffett be, his righthand man Charlie Munger in his 90s now and the current reigning wealthiest man in the world, microsofts bill gates. Right here on the fox business network. To the nations capitol, the first 1500 days official 100 days officially in the rearview mirror. Blake burman just got out of sean spicers press briefing, and, blake, lets get right to it. We already showed what sean spicer said in reaction to your question, and then there was some ground to cover on health care too. You hit em both. Reporter yes. And youre starting the get the feeling around here that this ahca 2. 0, the second go at it for republicans here at the white house might indeed just be nearing the finish line at least as it relates to the house. The key word being might. Speaking with white house officials here earlier in the day, they told me that it is possible that a vote could end up happening on the house floor midweek. The date that is being floated around is wednesday. When i asked them, tried to get to the bottom of just, indeed, how close they are, remember last time when this did not get to the house floor for a vote. They were somewhere about 1015 votes short, now im being told that they are about a handful away. Does that mean 2, 3, 5, 6 . Who knows . But clearly, they are getting close to possibly at least passing this in the house, so that led me to ask the White House Press secretary if they feel this is the closest they have gotten yet. Listen. Were getting closer and closer every day, so i would assume that today we are closer than we were a week ago. But were not there yet, and that decisions going to be wholly within the speaker and the majority leader and the whip to let us know when theyre going to open that vote up. Reporter so you heard him say it is up to paul ryan, leadership on the hill. We can tell you that the president and the House Speaker spoke over the weekend. Liz, even though they are confident here, clearly they are not trying to get the house in whats going on over there as those folks will have the ultimate say when this gets brought to the floor. Liz they can be thrown for a curveball definitely in the past. Blake burman. With the closing bell ringing in about 49 minutes [laughter] on the fly here. The dow is up about 12 points. Elon musk getting into the spy game . Spacex forging a whole bunch of new frontiers this morning. What was on that rocket . On your screen and what happened after those fireballs cleared . House Foreign Affairs Committee Chair ed royce joining the countdown back in march exclusively telling us of his new plan to cut off the blood supply to the kim jong un. The full house now set to vote this week on that legislation. But will starving the snake of money be enough . Up next, former National Intelligence and National Security officer and cia analyst sumi terry with us live on the power of sanctions versus cyber might and military might. 9 countdown coming right back. We need to cut off the life support for the regimes ability on this weapons program. We need to do it right now. When they thought they should westart saving for retirement. Le then we asked some older people when they actually did start saving. This gap between when we should start saving and when we actually do is one of the reasons why too many of us arent prepared for retirement. Just start as early as you can. Its going to pay off in the future. If we all start saving a little more today, well all be better prepared tomorrow. Prudential. Bring your challenges. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong insurance company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Liz not liftoff, but landing. Spacex successfully launching and landing a falcon 9 rocket early this morning, its tenth successful firststage landing but still full of many firsts for the Company Including images provided not just from the aerial perspective or the ground, but by cameras that were on the rocket and on the booster itself. The mission was the first flight for the Defense Department boosting a classified satellite for the National Reconnaissance office into space. We dont know really what thats ooh for, why thats we were joking and saying agent musk. Lockheed and boeing had the onetime no monopoly, and it is not boding well for their stocks. Lockheed town about a third of a percent, boeing down more than a percent at this hour. The dod, by the way, they did not provide any word on where that satellite is going and what it will be doing, but could north korea be a prime target . The hermit kingdom launching another failing Ballistic Missile test just three days ago, but the countrys tick today to have kim jong un clearly unmoved by threats being hurled his way as he vows to bolster the Nations Nuclear force, quote, to the maximum in the face of what north koreas calling aggression and hysteria. The Missile System placed in south korea by the u. S. Has now reached initial capabilities of operation. It can start working now. Both china and north korea have condemned installation on the system on the peninsula because theyre nervous about, who knows, sanctions between each other. But treasury secretary Steven Mnuchin spoke with Maria Bartiromo this morning suggesting that an indirect money path to turning the screws on north korea. Listen. The sanctions are about making sure that where people are supporting terrorist activities or weapons of mass destructions, that we are cutting them off from the u. S. Financial system. Liz okay. Cutting them off from the financial system, lets brung in former cia Senior Analyst sumi terry joining us to tell us if sanctions alone are enough. Number one, where do you think that satellites going . I would not be surprised if its going towards the direction of north korea. North korea is the most heavily imaged place on earth. Liz okay. You were a former cia analyst, Senior Analyst focusing on korean issues. Also a National Intelligence officer for east asia. You know this region. Do you get the sense that monetary sanctions, and it would be indirect, is that enough . Well, the thing is we have not tried maximum amount of sanctions. A lot of people think we have maxed out, but we have not. Tough sanctions have been in place for about a year. For iran it took about three years, and sanctions have not been forced at the ground level because china, unfortunately, has not been doing its part in forcing sanctions what the administration is saying now that we have to pressure china to enforce the sanctions in place. So we would have to pursue secondary sanctions against banks and entities that bolster north korea. Liz lets say we cannot dedependen china because so far we havent been able to. What should these sanctions be paired with . Should it be with sort of a cyber attack, you know, generated from somewhere . Maybe us but also military moves. We also have the uss slipson right there, the thatd Missile System that is pretty much ready to go, and americans worry there might be a trigger happiness on either side or nervousness that causes a real issue. Are you concerned about that . Im very concerned about that, and this is why we have thad in place, and we need to involve our defense and we have to pursue sanctions against chinese banks. But im concerned, but im all for cyber capability. And maybe some of these missile tests are failing because of our cyber capability. But i am concerned about other military options like military strikes, because north korea is not afghanistaning or syria afghanistan or syria. Liz a poll came out that shows Something Like 53 of American Voters polled want military action in north korea. Maybe they just want the saber rattling and the showing of troops this south korea and the thad Missile System, but that surprised me because this could turn out to be something quite dramatic if the chinese and then the russians pile in. No. I am quite surprised by that, 53 . I wonder if americans know, though, that we do have 20 Million People living in seoul, we have about 150,000 american expats living in seoul, soldiers in seoul all within 60 seconds, within over 10,000 artillery pieces, conventional artillery never mind the nukes. Liz you just told us, this is valuable information. And the entire region seems to be on tinder hooks. Let me just throw this out because you know the region. The philippines. President duterte is somebody who has gone after the drug problem in ways that a lot of people are concerned about. His administration is killing people without due process. Right, right. Liz President Trump just spoke to him on the phone and said it was a very warm discussion, and nobodys really been dealing with this guy. Is that a good thing or a bad thing, to open up a channel of communication . I think its okay to open up a channel of communication, but i wish President Trump coordinated with the state the president and the National Security council before inviting this president , because now theres a lot of controversy over invitation of due tar today to the white house. Liz it doesnt hurt to check with people. Sue mi terry, former cia specialist for the korean region, its great to have your perspective. Please come back. I will. Liz were 38 minutes before the closing bell rings. Apple and microsoft hitting new record highs. They are leading the dow 30 map. There you go. And orange is the new black held hostage . A time bomb tied to netflixs back and the big gamble it took on the ransom request. And from the prairie to new york city and fox business. She made her onscreen debut at age 8. Oh, the cheeks. Thats mel a francis. Melissa francis giving us the top money tips she has carried through her entire tv career thatll help you today. Shes up next. Countdown coming right back. 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. I even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. But no matter what path i take, i go for my best. So if theres Something Better than warfarin, ill go for that too. Eliquis. Eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. Eliquis had both. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious. And it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Im still going for my best. And for eliquis. Ask your doctor about eliquis. Liz the dark over lord, kind of sounds like a tv show. This is a hacker Group Holding several Hollywood Studios hostage and threatening to leak several shows on to the internet after already posting the first 10 episodes of netflix the orange is the new black. That is horrible for netflix. The harker released the episodes avnet flicks refused to pay undisclosed ransom. Netflix responded, were aware of the situation. A production vendor used by several major tv studios had its security compromised. The appropriate Law Enforcement authorities are involved. Netflix is not the only studio being threatened n a tweet on saturday the Dark Overlord said who is next on list . Fox, ifc, natgeo, abc . Oh, what fun were going to have. Were not playing games anymore. Shares of netflix right now, brushing it off. We could i believe see the sixth alltime record in a row. Not bad. 16th of the year, up 69 yearoveryear. To this, how could you not love the though growing up. Little house on the prairie. I was obsessed. Starring our own Melissa Francis there on the right, cohost of fox businesss after the bell. No doubt this was a childhood classic for those of you and me of a certain age. What you didnt know is the Financial Life lessons that were instilled in melissa while on the set that echo loudly and clearly today. We are honored to have author of, lessons from the prairie my work sister that is what i wrote inside your book. Exactly. Liz or my tv wife. That ashas different undertone it. Bffs, how about that . You there you go. Liz what a great book. Thank you. Youre shooting a television show, what kind of financial things did you learn . These are among stories people never heard. The truth is Michael Landon was one of the original entrepreneurs and small businessmen to take over hollywood. He was one of the first people to own, write, direct, star in the show. He was on bonanza. He was actor on the show. Realized to make a mint you had to own the show. He was also cheap as hell. He would, i cut quarters wherever he could. Liz frugal. He was frugal. So we had the dressing rooms, they were all the same size. His was like one of those little narrow dressing rooms you could barely get in. He was setting an example he was the biggest star he was not going to have a huge dressing room and huge entourage. He ran a very tight ship. He called me onetake missy, because i could get it done. In those days we used film, not digital. It was very expensive. He taught us the real work ethic, i was talking to Melissa Gilbert a few years ago, nounnone of us ended up in rehab or robbing a bodega, Michael Landon pride in hon nest days work. What that meant. We were earning adult paycheck. We showed up lines learned. We have stories that when we messed up what was like, taught us early age at that important lesson. I always had a job even after that, out of it, waitress, we all did. For my kids i teach them exact same things, that pride that you feel someone outside of the family pays you for a job welldone. You cant replace that. It is so important. Liz absolutely. Tell us about the time, because he didnt like to reshoot things because film was so expensive. No. Liz you messed up scene, it had be to reshot, it was all your fault. Yes. Melissa had a similar memory. We both turned scarlet red retelling the story. There was one time that we couldnt have braces because obviously were on the prairie because they hadnt been invented. We all had retainers, headwear you wear in between scenes and wear at night. I had retainer, wore it in between one take. I wore it through takes. They had broken down the set moved to the next scene. Oh, my god you tell him you left that in. We have to hello him now if he sees it in the dailies. I went over and silent furious. Liz show melissa, when she was young. How could anybody be angry at that face i was a little younger. That face, no. A little older with retainer on, picture that, costing someone money. Then it is different. There is Jason Bateman who he was in love with. He had the dreamy red bangs. I am in love with him. Liz the book is lessons from the prairie goat. I make fun of myself. Laura engles wilder wrote the great books. This will make you laugh until you senator up whatever youre drinking up your nose, something lovely like that. Liz we worked together msnbc and now i could be happier. Thank you, Melissa Francis. Stick around for after the bell on 4 00 p. M. Eastern. That is what she does. The dow is up 12 points. We have 27 minutes before the closing bell rings. May day protesters making their voice heard across the country. Immigration is very much at the forefront of these demonstrations but has this battle already been won . Up next, democrat cathly larue and republican strategist sean larue who is winning and losing in our nations capitol. Countdown coming right back. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. Listen up, heart disease. you too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. Liz we need to show you live pictures from austin, texas. Breaking news. Police say one person have been killed, three injured in a stabbing incident on the university of texas campus. One suspect has been taken into custody by police near the gregory gym where the stabbings reportedly happened. Police are cautioning people to avoid the area. No word on a motive. Well go back to austin with any new developments. With the threat of a Government Shutdown averted, health care once again dominating the agenda on capitol hill as lawmakers arrive at their office today. House republicans expect a vote possibly as early as tomorrow, the day after tomorrow. President trump tells eric bolling he is still allin for the right bill. Health care, were going to get that passed . Well either have a great plan or im not signing it. I said from day one, the best thing i can do is let obamacare die and come in with a plan. Liz tune into the fox news specialists, debuting tonight, 5 00 p. M. Eastern on fox news. What kind of momentum does the president have this time around . Is there signs of weakness in the white house spending agreement struck over the weekend . Fair and balances we have a republican sean neil and democrat cathly larue. Welcome to you both. I consider compromise actually a good thing for america but some segments of the population are calling this weakness. Maybe that is just the press, who knows what. But, sean, to you, is it compromise that helps this country or is it Something Else when we look at the spending bill that was agreed upon over the weekend . Sometimes compromise is essential. That is how what lubricates a democracy but in this case i think weve been relying on the filibuster rule too long to allow a minority of democrats to really leverage the administration and donald trump wants a big, bold, happy change in america. As long as youre going to have the filibuster rule that prehe vents spending bills from taking place without lots and lots of compromises to the democrats, look, right now we have six months. That is not going to be controversial for the spending. Democrats won a lot of Little Things but big thing is changing america so we have jobs again. So september, Mitch Mcconnell will have to consider something he has never considered before. The Nuclear Opportunity for blowing up the filibuster rule on appropriations. Weve done it just this year to get a Supreme Court nominee. If were going to have successful administration, trump is going to be leaning heavily on the senators because the democrats play with real bullets and republicans use rubber guns. Liz kathy, compromise here, it appears the republicans did the most of it here on this they didnt get anything forethe wall. They did get security for the wall, at least for the border. National institutes of health got more funding. Science got more funding. Cutting Social Security Administration Budget by 60 million. That was tiny. Military spending was not what president originally wanted. At what point do democrat say well give on things when we hit september. I dont think this is weakness by any party. Compromise is a good thing. This was bipartisan which ace huge deal. Liz youre not denying it appears the republicans gave in way more we didnt shut down the government . It would have been a huge embarassment if the government shut down. This would be a huge embarassment. They kept the lights on, thank goodness. I think compromise the way it should work. D. C. Should run bipartisan way. This is first Bipartisan Legislation the whole year the first 100 days. Thank goodness, i think trump versus swamp. Swamp fought back and won on this one. This is the way d. C. Is, and i think president figured out it is not that easy to change the swamp and change everything as he thought it would be. So were just see how d. C. Works. I dont think anyone should do a nuclear option. This should be the way d. C. Runs is compromise. Liz sean, lets say the Health Care Plan comes up for a vote on wednesday. We of course as a business channel watch the stocks. Many of them, whether they are insurers, in health care or medical devicemakers have been spiking, depending on what news comes out each different day, but what do you think really happens here on wednesday. I think, i think were really close to getting the votes. I talked to several members from the california delegation and the optimism is good. Americans have gotten a lot richer with just donald trump getting elected with the stock market going up improved the lives of 55 of the american people. If you actually that is anticipation. We got to get that bill passed. Here, once it gets passed that will create expectation of opportunities. Then you got back to the senate, you have the same thing again. You have the filibuster. The filibuster was used by the democrats and hold and control segregation. Its a bad tool. It shouldnt be used. Liz kathy, dont democrats risk hitting a point to fall over the cliff if they use the filibuster again . They lost out with the Supreme Court issue. Right. Liz at some point they begin to really look, to even centrists like the party of no . They have never been the party of no. They did blame the gop if government would have been shut down, it would have been gops fault, they were successful in that, we would have noted it was gops fault. They are the party of no. Do they know how to govern . We have no idea. The only reason health care is being replaced is because it is obamas biggest legacy. It needs to be improved liz the president said that. He will keep certain parts of it, maybe certain bones of the skeletal structure. Democrats, thank goodness, Many Democrats and protesters spoken up. The president is listening and congress is listening. Thank goodness for the protesters and first amendment. Liz weve got to run. Fair and balanced, sean you began. Kathy you ended. We always try here at fox business. Closing bell ringing in 17 minutes. The new blue state battle brewing. Charlie gasparino loving lala land but taxpayers may not soon. Charlie breaks it. Countdown coming right back. At fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. Medicare only covers about 80 of your part b medical expenses. The rest is up to you. You might want to consider an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. 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Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Liz President Trump got a lot of peoples hearts pumping because he unveiled quite an ambitious tax plan less than a week ago and it looks good, on paper, but just how easy will it be to get through congress and what type of things arent on the paper that are pretty much freaking people out . Could his biggest challenge end up being republican congressman in blue states . Charlie gasparino in l. A. Specifically, my hometown of Beverly Hills that should have been me, okay . The milken conference. [laughter] by the way, this is a great conference if you want the confluence of wall street and washington and how it affects the markets. Liz sure. That is all they have been talking about today. Let me say this. Steve mnuchin, the treasury secretary spoke today about the need for tax reform and need to keep zeroing out certain deductions that will help pay for it. Lets hear what he had to say. For most americans they will be able to fill out their taxes on a large postcard and will use the standard deductions. The special deductions, and all these things are really for rich people and were going to cut a lot of that back. As it relates to the states. We dont think that the federal government should be in the business of subsidizing the states. The states should be able to decide what they want to charge in income taxes. Obviously he is talking about the state and local tax he deduction that is near and dear to the hearts of every taxpayer, mostly every tax payer in places like new york, new jersey, and california. Now, where does this deduction really hit . It hits people that make 100,000 a year or more. That may sound like rich in the middle of the country . That is not rich in those states. Here is what we do know. There is a lot of congressman, gop congressman in those three states that are going to come under constituent pressure, to get that deduction, keep that he deduction. We tallied it up, about 28 congressman. The freedom caucus, which is around 30 congressman, killed the Health Care Bill. You could see how 28 here might hurt this bill, or at least force the administration to go back and put back in that state and local deduction. People at white house understand, that is going to be a big lift, getting that state and local deduction zeroed out to pay for this thing. Here is the other big lift. Liz, where i have some special insight, because the milken conference is filled with private equity executives. Private equity executives to keep that carried interest deduction. Liz come on. They need to get over that. Here is what they are saying. They will fight it tooth and nail. They believe they have it in the votes in senate and house possibly get that thing put back in. Get that deduction in the final plan and what theyre going to do is this. They will say, listen, one of the reasons why carried interest is a big thing, not fur hedge Fund Managers. Hedge Fund Managers trade. Private equity firms like blackstones, kkrs, why they need, they save companies. Liz sometimes. This, they save a lot of them. They get this sort of benefit known as carried interest on their longterm investments. Thats why staples or other Companies Like that can be saved. Hilton, 2008 during the financial crisis. Liz at some point no, no. They say that billionaires let me thick this point. Liz billionaires are paying 15 because of that carried interest loophole and rest of the world is paying 25, 35, 45. Well, listen, capitalgains taxes are boeing loner this bill but for the same reason. Liz dont shift it. You want to promote capital investment, so businesses buy other businesses. Liz President Trump, candidate trump said theyre getting quote, away with murder by using the carried interest loophole. He said that during the campaign. Lets be real clear, candidate trump said a lot of things so, i think that they, they, we dont have to go into everyone of them. And what he is saying now. Listen, there is going to be, listen, some of this im not carrying water for private equity people or the state and local people. What im just saying is this. Liz theyre nervous. There will be a Battle Royale to keep those two deductions in. Then there will be an issue how do you pay for tax cuts. Liz charlie, do me a favor, a few blocks east on cannon, chocolates and get me milk covered chocolate carpal medicals. I need that. You dont look like a person that eats that stuff. Maybe popcorn. Liz maybe by accident i do. Charlie, have a good time. He is there to work by the way, goofing out all the good stories markets now, dow has turned negative. I told you banks were making the market jittery. S p up six. Nasdaq better by 47. Were coming right back. Liz check this out. Go up to the television, look more closely. What is this . Guess what is driving under this dark grainy note toe. You and i may have to wait until september until we see it in its glory. Rumor has it is allnew semitruck tesla is coming out with. Tesla hit new high wednesday in the wake of that photo going viral. Before that huge names will reveal how much they made in earnings. Mary ann montain, even if you dont own the stocks they could move entire sectors or markets. Which names are you looking at . Just to look at a Company Already reported, First American financial. Not a house hole name, but many households used their services. Mortgage tiled insurance as they wild more and more services. 20 upside from here. It broken out recently on earnings. We like kohls. Hurt by seasonal factors and warm intwinter. Lateness on returns on taxes. We like it with a 5 1 2 yield in here. We think that is a very strong buy. Liz im surpised youre saying that. We report heavily on the retail ice age and how amazon is killing everybody. Yep. Liz on top of that could you play this arbitrage as a potential take over target . Could be. That is not the way were playing it. You never know the timing on takeovers anyway. Were saying way it is valued in terms of pes, yields, its a great value in here. We see 20 up side. In terms of Companies Reporting this week. We like facebook. Telling one times its growth rate. Apple is coming out with earnings too. Liz yes. Were not big fans on that one. Valuation is twice. Liz okay. Little nutonic has been taken to the cleaners lately. We expect when they report earnings later this week they will have good orders and the stock will pick up again. Liz literally i have 10 seconds. Are you worried when President Trump says he will do a defend first glasssteagall and break up big banks, yes or no . No. Report one thing. Only on fox we made a big play in global rotational portfolio into emerging markets momentum stock. Liz great to get your ideas and concepts. Gradient senior portfolio manager. One 1 2 billion in assets. [closing bell rings] liz its a record for the nasdaq. The nasdaq hitting the highest level ever. There is the closing bell. Melissa and ashley for the closing belle. Ashley the dow losing steam in the final moments of trading. Just turning negative a few moments ago. It aint all bad. Every trading day, a brand new record high. There you go. S p also ending in the green. Good afternoon, everyone, im Ashley Webster in today for david asman. Melissa good to see you. Glad you could join us. Im Melissa Francis. This is after the bell. We have you covered on all the big Market Movers but first here is what else we have for you this hour. President trump is confident a vote on the new Health Care Bill will happen within days
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