Make sure and i dont want to waste his time and sit in the oval office unnecessarily. Thank you. Thank you, anthony. [laughter] thanks, guys. Thank you. Obviously i would have been happy for him to stay all day and continue to exhaust all of your questions but but i should answer a couple today and also the president has an event here shortly so i want to try to work through as many as i can, and with that, im actually going to start with jeff mason since i believe it is your last day and my first, so with that, jeff, take it away. Thank you, sarah. Can you talk to us a little bit about how this will affect the change will affect the press office and can you speak a little bit for sean how hes feeling and how he made the decision to resign . You know, im not going to speak for sean in detail. I can say that he understood that the president wanted to bring in and add new people to the team and sean felt like it would be best for that team to be able to start with a totally clean sleight and i want to echo what anthony said, it speaks valiums to volumes and allows anthony to come in with a brandnew starting place and i think hes served the president loyally and admirably, he will continue to stay on through the transition and im sure he will be happy to answer some of those questions. First of all, congratulations on the job. Can you clarify where the president stands on the issues of pardons, is he considering pardons in the russia investigation and does the president believe that he has the power to pardon himself . I will refer you to the comments that have been made by the outside counsel in terms of their action. The president maintains powers like any president would or theres plans whatsoever. [inaudible] like i said, i dont have anything to add beyond what the outside counsel has already stated. He raised questions about Robert Mueller, does he endorse his legal teams effort to undermine Robert Muellers credibility . Again, the president has absolutely nothing to do with any of the allegations that are being made. I think hes maintained that and he wants them to complete their process as quickly as possible so that we can move on from the ridiculousness of all things russia and russia fever. So the question that i asked, does he endorse legal team efforts to undermine the credibility of special counsel . Im not aware of the details. Im not part of that process. On health care, what does the president want the senate to vote on next week . As we repeated many times before, the president s preference is to repeal and replace obamacare and we havent been shy or quiet about that and those intentions have certainly not changed, john. How much arm twisting is going on visavis the health care bill, and now they will actually be scarring votes on the motion to proceed which i believe is unprecedented. I dont think anyone here has made a secret that this is a big priority and that congress should do what theyve been talking about for the last seven years. Its time for them to get in there to repeal and replace obamacare. The groups recognize that. The constituency support the groups that they have recognize that and they are supporting the mission of their organizations and pushing on members to get the job done. Nothing beyond that. The organizational structure, now that anthony has come in, the press secretary, reporting chief of staff, would it remain that way because there was some move toward making the Communications Director sort of deputy chief of staff and press secretary, so do you still report to reince or to him . I think that anthony said it better than i can in this capacity as we plan to Work Together as a team and certainly our goal is to Work Together to promote the president s agenda and to do that not just with the two of us but the entire press coms office as well as the staff. Do you report to him or reince . We all receiver at the serve at the pleasure of the president. [inaudible] talking about the motivations of people who are part of bob mueller special counsel investigation. Did the president disqualify those people from being part of special process . I dont know that we are putting out a litmus test but questions regarding that, i would direct you to outside counsel. Does the president have confidence in National Security . I have no reason to believe otherwise. [inaudible] the intelligence committees are looking into Financial Data from the treasury department, is there anything the white house can do to stop that . Look, again the president s point doesnt want the special counsel to move beyond the scope and outside of its mission and the president has been very clear as to his team that he has no financial dealings with russia and i think we have been extremely clear on that. Blake. Blake it bake apparent in became apparent in the white house that it was pulled within the last minute or the last hour or two and when you look, the numbers suggest that they dont have the votes and is set up to fail, why does the white house believe this time around that the vote should proceed . Again, we continue to be focused on repealing and replacing obamacare and we are not going stop until we can continue to move that forward and get that done. Not only have we wanted to commit to that, but frankly, a lot of the members of the senate and the house have not only committed but campaigned on that and its time for them to step up and get that done. Do you believe that a vote should take place son some or the of the bill one way or another . I dont think you can repeal or replace obamacare without a vote. I think it would be a pretty necessary part of the process. Thank you, sarah. I just want to get something straight, earlier in the week, you indicated the white house was not opposed to outright repeal and then based on your remarks today and two days ago you seem today favor repeal and replace, does that mean you are against the outright repeal bill . Not against but as mark said earlier this week, our preference to repeal and replace. Two questions for you, can you take us through the process how the president decide today hire decided to hire Communications Director, Anthony Scaramucci and moving forward what would his role be that the president wants him to meet . Hes been a loyal supporter of the president and anthony is somebody who has come from nothing and built an incredibly several incredibly companies and hes one of the most successful, smart people that the president could put on his team and the president recognized that and he wanted him to be part of the process. I think very early on he was strong advocate throughout the transition and it has been part of the process that brings him inside the white house. Follow up on rob mueller, does president have confidence that mueller will conduct a fair investigation . At this point, i dont have any reason to see otherwise. But i have not had a chance to ask the question and i want to get clarity before i comment on that. [inaudible] several other roles inside this building, across the street. What does that say about the efforts to staff up this administration at the start, what has the president learned about his team, about himself as a president and if you can explain that high turnover . You would have to ask the president what he learned in that process. What we learned in the process is that working together and working to accomplish the things that the American People elected the president to do is our focus, its what we come here every day to do. We are a lot less focus on the who but the what and we will continue to do that every single day. Jim. [inaudible] is it chaotic . If you want to see chaos, you should be at my house early. Resignation of mr. Spicer could havial are energized by the accomplishments of the president in the first six months. Stock market is at a high. The country is becoming more secured, immigration is down, i think we have a lot of things to celebrate, a lot of things to be excited about and our morale is pretty high. One last. First of all, congratulations. Thank you. If you approach this new role [inaudible] if you could reflect on the last six months one day on what youve learned on how it is to speak to the president , is it a tough job or have you found it easy . I think its probably one of certainly professionally one of the greatest honors that any person could ever have to work in any capacity within this building and to get to do that up here in such a public way and speak on behalf of the president is absolutely an honor and something i will cherish and hope to do my very, very best every single day and be as open, honest and transparent with you all as humanly possible and will always work to operate at the highest level and certainly with the most amount of integrity as you can, and with that, thats a great place to end today and the president will be having an event here shortly. Thanks so much, guys. Liz well, we got the first new order. Press Secretary Sean Spicer out and Anthony Scaramucci in. The newly minted white house Communications Director met the press today and offered to answer every question out there until he was kind of pulled by Sarah Huckabee sanders but Anthony Scaramucci, the former fox business contributor turned white house Communications Director taking a pretty calm tone with the press corp and in essence compared their relationship to one of two brothers, if you guys know what brothers are like, we occasionally fight, he called him a dear friend and used wall street analogy saying he wants to work to close the gap between what he says the white house is doing a great job and what the press corp proceeds. He also thanked sean spicer. He said there was no bad blood but is that really the story . Spicer resigning hours after the president hired the former fox business contributor and wall streeter to be spicers boss. Something sean spicer didnt like about. Spicers role has gradually been diminishing over the last couple of months. He famously lampoon by Melissa Mccarthy on saturday night live. Sarah Huckabee Sanders was taken more of the daily chores, mostly off camera with spicer in the Rearview Mirror and promoted today for Sarah Huckabee sanders. Is Reince Priebus the next friction point . Would you buy that they are like brothers and they fight occasionally . What i buy and dont buy is really nobody cares but its important what you heard Anthony Scaramucci say because at the end of the day, this is about President Trumps message. So when blake berman, our correspondent who was asking questions asked Anthony Scaramucci why he would want this job, it always comes back to other questions like that. The president s message and Anthony Scaramucci feeling about what the president is trying to do. Here is Anthony Scaramucci in his own words. Im a business person and so what happens in business a lot of the times is you have rotation in personnel as youre making changes and you have lifestyle choices that people are also making. I would love to have sean here. Sean decide that had he thought it would be better to go and for me it speaks volumes to who he is as a human being and team player, his attitude is, anthony is coming in, let me clear the sleight for anthony. I love him for it. So, of course, theres the news that Sarah Huckabee sanders will be the press secretary. Just go back a few months ago. The president was angry with him after the house first failed to pass Obamacare Repeal and had to go through the second vote and eventually we did get an Obamacare Repeal and replace bill out of the house. So the question is what does President Trump think in regards to Reince Priebus whether Anthony Scaramucci believes hes a brother or not, liz. Liz yeah, well, as we are looking at all of the breaking news here, adam, its really been quite a game of thrones thats been playing out and it began way early this morning before daybreak. Rumors about the former Fox News Contributor began swirling at 5 00 a. M. Eastern time. Two hours ago the New York Times broke the news, spicer resigning, apparently objecting to the hiring of new communications chief Anthony Scaramucci who does not have a lot of, i guess, experience and that was sort of the anticipation that he was upset about that and then many of the questions at todays press conference focused on the relationship between scaramucci, sean spicer and Reince Priebus. I think scaramucci will probably get a plus from the president on first appearance. He appeared relaxed and calm. A, did the press buy it, and b, some of the things he said, some americans absolutely think are fiction about how things are going. Yeah, listen, hes got an incredibly difficult job, okay, maybe the toughest job in the white house in this sense that the change to perception of a president among members of the press who are temperamentally opposed to the president. I take shots at President Trump on demeanor and some of the things he says but i agree with a lot of stuff that he does particularly on the economic standpoint. Most reporters dont agree that cutting taxes is a good thing. Most reporters dont agree that getting rid of doddfrank is a good thing and stemming illegal immigration is a good thing, illegal, not legal. Sarah Huckabee Sanders said it was a triumph that immigration is down. Illegal immigration might be down. Remember, the press corp is opposed to the president in a very substantial way, maybe even more so than with george w. Bush, the last republican president. So its his job to change that. Its also his job if he can to rein in the president when he can, this is a president that goes off message i am telling you, when i talked to some people that know people in his legal team, none of them it was wise that he went after Robert Mueller in the New York Times article. Not smart to the interview times in the first place. No one knew. This is what why Anthony Scaramuccis job is so difficult. Hes a smart guy, really smart guy. Hes an amazing marketer. The question is does he have the requisite skill set to be a communications manager. Sean spicer resigned and said he resigned because he didnt think Anthony Scaramucci should be in the job. We have to hear what sean spicer says, usually when people resigned is im passed over, get your own team, im out. Thats a personal dig. Liz yeah. I will say this, the notion that Reince Priebus and he are lovey dovey is, well, he didnt really say that, they are like brothers but he shouldnt have said blood brothers, i can tell you behind the scenes, one of the people that Anthony Scaramucci was blaming that he did not get into the white house was Reince Priebus. That said, lets be real clear, smart guy, capable guy, built a business and sold for a lot of money and he runs a liz i found the tone at least for now, hes not going to be the press secretary who is out there every day but his tone was much more mannanimuos. He forgave cnn pretty quickly and could have and didnt file a multimillion dollar lawsuit for false information that they put out. Charlie right. Liz i guess at least if you think thats the guy who is going to be saying get out there, answer the questions, first sean spicer who appeared very prickly almost like he had charlie lets be clear. Anthony scaramucci should be given a chance to do his job. Hes a very smart guy and we give him the benefit of the doubt. God bless him. I hope he does well. Lets be real clear at sean spicer, he was an expert of communications, he was put in the most difficult position ever in the history of press secretaries in having essentially to spin out bs put out by the president. When the president says that we have the biggest crowds in the world ever coming to inaugural. Guess what, its not really true. He has to spin that out and a lot more. Liz you could see on that very day spicer was stumbling trying to sell that. [laughter] charlie do you blame him . Come on. Liz charlie is going to work the phones more on the story and in the meantime ed rollins is here, former adviser to Ronald Reagan a also Political Action for the Trump Campaign during the election season. First your take on all of this . Well, anthony is a friend and a very bright guy and talented guy. Hes going to have the most challenging job in the white house next to the president and charles said that very well. I think the critical thing is hes got a nice demeanor, nice style and he will catch up quickly, but this is i worked in three white houses, reagan, nixon, lived through watergate, theres a tough time coming ahead. This is a different kind of president. I support him, i will continue to support him and he may never be satisfied with anybody other than hannity and lou dobbs being out there defending him. Its his way or no way and the problem that you have as a press person, Communications Person in the white house is you have to have credibility or the press themselves will turn on you quickly. Your job is to make sure the president s story is told. Theyre not going to accept that story. But you have to be honest. Liz either accepting or rejecting a story, he came out with a couple of definitive statements, Anthony Scaramucci said donald trump has among the best political instincts of pretty much anybody . He got elected. Bottom line, nobody gave him a chance. Something that worked well. Liz since then as president . Its a learning process. Liz you said that he should dump twitter and its a problem. That doesnt appear to be a good instinct when hes trying to promote made in america and he diverts the attention. Thats whats going to be Anthony Scaramucci and everybody elses role to try to make that i think the key thing the president gets to pick who he wants, his kids, soninlaw, the rest of the kids, golf buddies, it doesnt make any difference. The critical thing is can he get the counsel to move forward. The failing of this president to date has been in the Communications Area so this is a very important thing and its him because he says many different things. As the time that youre pushing health care, i love i was on your show the other day and we were talking about buy america, the very day youre going out and allowing more foreign Business People to come in, that steps on the story. He should have been talking about health care and have the white house full of doctors and hospitals and administrators and people, thats how you communicate the big picture, television is very important part. Liz as we end on this, he did punt on the russia story because he diverted to the legal team that is working specifically on that. Theyll be able to do that because thats actually a correct move, right . Totally. And again, this is the least experienced man to ever be president in a political sense. Hes experienced as a businessman and hes going to be a strong leader and learning every day and thats a very important part of it. Liz ed rollins, thank you very much. We should not ignore the market here. The dow is down 51 points, but the nasdaq is close enough here, the nasdaq down 10. We will see an 11th closing record in a row or will that 10day winning streak come to an end . We will be right back. 36 minutes before the closing bell rings when youre close to the people you love, does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. Tell your doctor if you are being treated for an infection or have symptoms. Or if you have received a vaccine or plan to. Inflammatory bowel disease can happen with taltz. Including worsening of symptoms. Serious allergic reactions can occur. Nows your chance at completely clear skin. Just ask your doctor about taltz. Liz well, hopes of a new record on wall street crashing down as one single companys lowered forecast plus ongoing political turmoil in dc keeps the bulls on the sidelines in the final hour. General electric is the skunk at the picnic today, currently the west performer on the dow, twoyear low right now at 25. 84. Down 3 . This, that lost wipes 12 billion from ge market cap. Delayed 2018 profit target until november, plus it lowered its guidance to the low end of what amists are analysts are expecting for this year. If you think ge was crazy, buckle your seat belts because next week will be one of the busiest for earnings including tech titans, alphabet, facebook, amazon plus exxon mobile and chevron and many other names that you likely have in your portfolio somewhere. Lets get to the floor show, Stock Exchange in new york and cme group in chicago and lower manhattan. Tim anderson, i will begin with you, its friday. I wouldnt be heartbroken if we wont see records today, right . We are near alltime highs . Thats right, even though we dont have the record closed today, we will have a weekly record close for the dow and the s p for the second week in a row. Weekly numbers could be very powerful, possibly also for the nasdaq and thats in a week when as you mentioned ge disappointed, ibm disappointed and big box and home depot and lowes with the potential onslaught of competition. Liz indeed. Chris, are you getting nervous, so to speak, about the Federal Reserve again because we know now inflation is weak . We also have things like building, the Housing Starts to look good, pros but feel like the fed is concerned about raising even one more time this year . Yeah, i mean, thatll be next thing we will focus on. Look at the yield in the tenyear, 2. 2. I would watch the 2 level carefully. The question is are they going to start attacking the Balance Sheet too with whats going on in washington, are they going to get tax reform, and i think maybe the fed is wait to go see what happens there as well. We will see. The market factored in, one more rate hike, i would be surprise if it didnt come but thats going to be in the cross hairs moving forward. Liz i am looking at my computer screen and i have every index at least here in the United States at this moment, every single thing is red, alan, we did have oil considerably lower by more than 2 earlier today, even we got great invent other numbers if you are a bull on oil prices because there was a market drop here. Looking at the next week of trade, you know, i know that theres too much supply and not enough demand, but what about opec meeting in st. Petersburg, russia . Its being priced in the market as if no surprises are going to happen. I do think theres going to be impact. I dont see us going down much further. I think by the end of this unfortunately near the end of this year we will be much higher. Liz we are 45. 62 for those of you listening on siriusxm 115. Put it in your cars. Gasoline, any chance because we dont i should say risk for the consumer that we might start to see gasoline higher, one month 2. 28, today is 2. 28, thats the average, of course. Alan. I wish that i wish that gasoline would reflect what the wholesale market is. I traded gasoline for many, many years and i can tell you how frustrated that is. However, i do think we are going to see either stable pricing or little down for a short time and unfortunately back up by the end of the year. Liz i know all three of you are stuck to the computer over the weekend these days because theres news always breaking so join us next week and we will hear what you found out. Thanks, guys. And be sure to tune in to wall street week tonight, maria is going to talk to the ceo of the london Stock Exchange, about brexit, the global economy, tonight 8 00 p. M. Eastern. Watch the property man, bob massie wears many hat, taking a look at frank homes. Property man. Dow is down 53 but could be up for the week. Liz red on the screen for the dow, s p and nasdaq and the russell 2000 at the this hour. The federal trade commission is reportedly looking at amazon prices as part of acquisition of whole foods. Shares of amazon are down half a percent on that news. Elon musk on twitter said he received verbal approval to build a highspeed hyperloop between new york and dc. Officials in dc downplaying the news that the Boring Company still would need requirements. Another unicorn looking to go public, ancestry. Com, Public Offering this year which could value the company at more than 3 billion. Up next Ohio Republican congressman weighing in on the next move for your taxes in health care. Stay tune, we are coming right back. This business brief is brought to you by comcast. Business, built for business. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. 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. Liz breaking news to the oval office where just moments ago President Trump greeted and honored survivors of the attack on pearl harbor, those who have been on the uss arizona during japans surprise air attack on hawaii in 1941 also got to hear their stories retold by the president. By the way, at the end we understand that the president took a shouted question on what he hopes to accomplish with the staff shakeup today and his reply was, make America Great again. And speaking of hawaii, hawaiis announcement came out and it wasnt about pearl harbor. Its creating a Preparedness Plan in case of north korea missile attack. The plan includes evacuation drills for School Students and Public Service announcements that say, get inside, stay inside, and stay tune. There will also be test of emergency siren on the first workday of every month. Should this be alarming or is this a good thing to be doing, how likely is an attack by north korea on the United States . Lets bring in fox news strategic analyst lieutenant peters. Hi, liz. Liz i would say its always good to be prepared. Youre exactly right. Hawaii is not acting hysterically. Theyre not telling people its going to happen tomorrow, build your bunkers. They are doing what Emergency Reaction organizations should do and prepare and prepare not for the best but for the worst. North korea cant hit hawaii yet, but we have to be prepared for the day when it can. I think that the authorities in hawaii are behaving wisely and with an eye on in the future. Its sad that we have come to this. We are back in the get in your desk. Liz i remember that. Even in the 70s. You said it cant reach hawaii yet but apparently theyre capable of launching a missile, north korea that can travel 4100 miles, hawaii, meaning honolulu, 45 miles out of reach but fairbanks, alaska within 4600 miles. Is alaska doing the same thing . Well, i actually think if north korea were going to hit either alaska or hawaii, theyd go for hawaii because of the pearl harbor, they are aware of the history. Yeah, certainly alaska also should be preparing and unfortunately the way things are going, the cities on the west coast are going to have to start to prepare at some point. Its important to get that balance. You understand this, liz, the balance between preparedness and hysteria and overreaction, we cant do that. Unquestionably if north koreas progress toward accurate icbm with a Nuclear War Head is not stopped somehow, the threat will be very, very real. Liz what about regime change . Cia director mike pompeo was at an event last night where he really hinted heavily that kim jong un cannot remain the leader and that regime change would be the way to go but dont we need china for that . Well, regime change is a great idea but how . China i just do not believe china will ever help us in the degree it would be required because china sees north korea as valuable ally in peace and war, distracter for us and potential war ally. If you want regime change, great idea. The only way i can see to do it, im serious, one of the scheduled great parades where all of the leadership is on the reviewing stand, you take out reviewing stand, you kill hundreds instead of seeing the deaths of hundreds of thousands but we are probably not going to do that because we dont think like that, we would rather wait for the war to come and have blood all over the map. Liz wow, okay. You know, there is not that we endorse assassination but the cia has been known or certainly most liz, if you kill one person, if you kill a hundred its selfdefense. Liz i see what youre saying. Lieutenant colonel ralph peters. Closing bell 17 minutes away. Dow jones industrial down 49 points, still in the red. Major shakeup at the white house that now has many asking, could this further derail President Trumps agenda on health care and tax reform, congressman jim, sits on the house budget ways and Means Committee and will tell us whether the border adjustment tax has a chance of making the cut or whether that speeds up and slows down the progress. Could wantdown countdown coming right back. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Potsc in unison drive russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing liz team trump shaking up the batting order officially announcing it in just the last hour and a half. Former new york hedgefunder chief Anthony Scaramucci now the Communications Director and press secretary spicer is out. Sean spicer has resigned. Could that help or hurt when it comes to health care and tax reform . Lets bring in republican congressman jim renacci of ohio. Some people might say theres through absolutely no connection and the shakeuptakes attention from important policy decisions at hand but the house appears to be forging forward. Do you think that the budget can be derailed or the tax reform can be derailed by anything that happened today . Well, absolutely not, liz, thank you for having me on. Here is the problem. Its up to the house and senate to get the job done. The president said im ready for the package, i will sign it, im waiting for tax reform, i will sign it. We have to do our job. So i dont think really the messaging is an issue. The president is waiting. He ran on that and waiting for us to get the job done. Liz when you say our job, lets stay with the republicans because you control the house, the border adjustment tax is something that some really like and say itll help for a bunch of cuts that are out there that need to be made and will help pay for, i would imagine, tax lowering of any tax levels that anybody pays whether its corporate or middle or lowerincome people. So youre against it, could you understand how it could go in there at least or are you completely intransent on the issue . Number one, who pays for it, number two does it meet requirementses of rules and regulations, who is going to pay for it, these are things that are concerning to me. Im willing to listen and willing to see if theres enough transition period but even when i talk to my businesses back here and even from my experience as business owner, it would take a long time to get all the manufacturing back into this country. Liz and we source a lot of parts and materials to make made in america products from other countries so that would only increase the price of what people pay here but you said youre willing to listen, well, i will let you react to listening after this. Listen to paul ryan. We will do tax reform no matter what happens with respect to any other issue Like Health Care reform because we know we have to do tax reform. Its a once in generation opportunity. Liz you are cochair to have bipartisan group. You work with democrats. Do you think that you can work with democrats on tax reform and get it done this year . Well, i am a cochair and we meet every week and i can tell you democrats want to get some things done. I think its important that we get something dont. I agree with speaker paul ryan, we have to get something done. We just had a hearing and in that hearing a lot of people, number one, we have to reduce rates and we have to make a territorial system where and we have to do it now. These are the things that we have to get done and i believe in the end we have to have flexibility. One of my concerns with the budget we just passed out of the Budget Committee was it doesnt give us enough flexibility. Im somewhat concerned about that but i believe moving the process through. The senate will get a chance at it. We need flexibility but we need to get tax reform done. Liz i can tell you that would be really welcomed by a lot of people. It would put a lot of tax preparers out of business, i am sure, we have to do whats right for the country. We will see if that happens. Congressman, thank you. Before you go are you a tribe fan or a reds fan . Im a tribe fan and a red fan. Liz i like that you said tribe fans because im an indians fan. Stocks feeling the heat at this hour with the dow down 40 but not biotech. Theyre cool as a cucumber. Up next 8 billiondollar john has the number one biotech pick to get your portfolio in tiptop shape. Countdown coming right back. Liz give you this move. S p 500 and nasdaq on pace for a their straight week of gains. Dow shaping up to the first down week out of three. Lets get to the new york Stock Exchange with lori rothman on this friday. Hey, lori. Great to see you. The dow will wrap up this week about down. 3 of one point and still close to all time highs. Up half a percent for the week. Nasdaq, winning index up 1. 1 on the week. Winning stocks having to do with earnings, most of them. Nike, united health. Visa, big double win for visa in terms of top and bottom lines. Goldman sachs, one of the losers. Another loser, home depot. Home depot taking a hit because news will sell its kenmoore brands on amazon. Com. Home depot, lowes, those names, those home retailers names are really struggling. Ibm is one of big losers this week. Earnings continue to be in focus. Well get bulge of S P Companies reporting next week. 170 companies to hear from. Liz, back to you. Liz i had 180. 180. My point. Liz rothman and claman, were almost the same person so. One group bucking bearish tone in the market at this hour is biotech stocks. They have hit a 18month high, up 24 since election day. My next guest has more than 8 billion in assets under management. He has a way to play the biotech boom without getting burned. He is john trainer of peoples United Wealth management. Good to have you. Good to be here. Liz what is at work here . Big jump for entire sector. Two main can lifts. Great pipelines and great drugs tackling important diseases. Big pharma is looking for products. You have the m a opportunity with big pharma buying some small biotechs. Even if they dont, companies have growing pipelines and earnings. Liz biologics put out money to help drugs that have a lot of people. You have mercks and pfizer and others who try to swallow them up. Thats right. Liz which larger pharma is in the best position in your opinion . We live america is doing with ketruda we like the favorite stock in the entire drug sector because they have a great pipeline. Earnings are growing. With like novartis. Liz it is swissbased pharmaceutical run by berkeley graduate which we like. Fantastic. Liz tech sector has been huge. The nasdaq had 10 winning record close sessions. Absolutely. Liz oracle a big part of that. That is one of your bigs too. Why . We like oracle, this was a real showme stock for the last couple years. If you look at a longer term chart on oracle only now it is just moving. Oracle has a cloud strategy. Theyre succeeding in the cloud strategy. Theyre take seriously by the street. We like oracle quite a bit. Liz 30 seconds before the closing bell rings. A few record streaks come to an end. Does that worry you, board you . Doesnt bother me. We are concerned with some valuation. Were looking for companies. Companies doing well in this environment, Companies Growing earnings. A lot of companies forecasting good numbers going forward. Were positive on the market. Liz good to see you. John trainer. Third straight gains for s p and nasdaq. [closing bell rings] as it rings out the book, it has been fascinating week from market standpoint, out of d. C. , what exactly david and melissa will tack on after the bell. Melissa it was a week of records on wall street. The major averages are finishing the day in the red. Nasdaq, s p are ending positive for the Third Straight week. Im melissa francis. David im david asman. Were happy you can join us. Happy friday. This is after the bell. More on big market movers. We have a lot to talk about. Here is what else is happening this hour. Huge shakeup at the white house. Sean spicer is out. Anthony scaramucci is in. The press secretary turning in his resignation as President TrumpHires New Communications chief, a man quite familiar to viewers of this network. Is there another shoe about to drop