Sending a powerful signal to the world. Were going to defend our workers, protect our jobs, finally put america first. Cheryl the president making these comments at snapon tools in kenosha, wisconsin. Well ask the ceo what the approximatelys policies mean for his business. Plus on this tax day, more signs that tax reform is going to be delayed. Why treasury secretary Steve Mnuchin says that he is changing his stance from what he told fox business last month. And two tech titans out with their results at any moment. Well bring you the numbers from yahoo and ibm soon as they come out. David . David expectations of a great earnings season driving markets a lot higher yesterday but today, a little bit of reality settling in. A pair of disappointing reports shaving most of the points off of the dow. Particularly into the end of the trading season although it is way off its lows. Lets go straight to lori rothman on the floor of the new york stock exchange. At one point, lori, i thought the market would stay down under 200 points but it did recover from that low. Reporter i saw that a little after 2 00 eastern. I think a technical buy someone here on floor told me, why we came back down 113. Weve sort of been at this level all day. We were up about this level on the dow yesterday. Were looking at treading water. So much for markets to digest. Bad news with the geopolitics and tax plan being postponed. Earnings were supposed to be the bright spot for investors. Those two this morning Goldman Sachs and Johnson Johnson huge dispointments. Look at Goldman Sachs versus how they performed versus other stocks. All in the r. Down almost 5 at the close. A lot worse than its peers. How is this . Goldman sachs fell harder than this latest earnings announcement. The last time it fell or did this poorly rather was 2009. That is my point. That is saying something. A big bummer if you will for Goldman Sachs. Look at Johnson Johnson how it wrapped up. Johnson johnsons poor results according to analysts will have implications for some other drugmakers. That weighed on entire sector david bummer, i havent heard that word a long time. Thank you, lori. Cheryl hire american, buy american, President Trump detailing a new policy for businesses in kenosha, wisconsin. Jeff flock on the scene with the latest for us. Jeff. Reporter what better place to do this, cheryl, than a successful american company. Snapon tools. You see the American Flag behind me by the way. That is made out of snapon wrenches what the company was foundedded by the wrench sales back in the 20s. Great history of this company here in kenosha, wisconsin. Pictures of the president signing his executive order on buy american, hire american, specifically targeting the h1b visa program which the Administration Says is being abused now. Also this concept of Government Agencies buying American Products which the president says has been diluted over the years with all sorts of exceptions. Here is what he told the crowd. The policy of our government is to aggressive promote and use americanmade goods and to insure American Labor is hired to do the job. It is america first, you better eve it. It is time. It is time, right . It is time. [applause] reporter the problem is, cheryl, that the president doesnt have complete authority when it comes to the h1b visa program. It is now a lottery system. He wants a marriedbased system. That is action to be taken by congress. He he is certainly encouraging companies. Even called out the names of some companies he says are abusing the system currently by bringing lowpaid workers. Take a look at the numbers. 80 of the 85,000 immigrants that are brought into the country under the h1b visa program are being paid less than median in their field. Unfair says President Trump. Just to leave you with the White House Press corps here, reading the tea leaves on the warm welcome the president gave to his wisconsin natives reince prescribe bus and paul ryan. Some question whether theyre on the outs or not . Didnt sound like that today. That is the wisdom of the White House Press corps. I dont have any wisdom. Cheryl you have a lot of wisdom, jeff. That is probably a result of President Trump meeting with Silicon Valley ceos. This proposal. Jeff, thank you very much. David joining me is Gary Kaltbaum of kaltbaum capital management, a fox news contributor. Dan henninger of the wall street journal. Mashable chief correspondent lance ulanoff. Gary, first of all about these h1b visas. As we heard from jeff, 80 of them go to workers who are paid less than the median wage. The big question here are they hired because theyre cheap or are they hired because the companies cant find talent elsewhere . Combination of both, but leave no doubt, companies are trying to cut costs. I have seen companies that actually keep their workers on to train people that are coming in with visas and fire those workers. So it is pretty much been insane policy. It is good that it is looked at. It is good something will get done. David yes. We need a much more level playing field. Davi gary, im pushing you. We have breaking news. I want to squeeze it in here. Yahoo is reporting their First Quarter results. Ashley webster live in the newsroom. What are the numbers and how is the market reacting, ashley . Reporter david, this is the last Earnings Report we will hear from of course yahoo as they get sold to verizon. I will get into that in a minute. Headline numbers, 14 cents was the estimate on earnings per share, coming in at 18 cents. That is a beat. Revenue higher than expected at 1. 33 billion, beats 1. 23 billion. They continue to say in the report, david, that the deal for yahoo , the 4. 5 billion deal is expected to close june of 2017, june this year, which is exactly what it was supposed to be. So that is good news for investors who were worrying there might be a lastminute hitch. That apparently still on track. Paid clicks were down 12 yearoveryear. However, the price per click was up 10 ad sales up 2 . This somewhat historic, will be the last Earnings Report from the yahoo we used to know. David interesting. By the way a lot of h1b workers at yahoo . Afterhours you see the stock is trading up a little bit but basically flat. Cheryl, over to you. Cheryl we want to stay with yahoo , bring in lance ulanoff, mashable editoratlarge. Paid clicks down 12 yearoveryear, lance. Ad sales higher. What do you make of the dichotomy of the numbers . Theyre doing their jobs selling this stuff but the ads are worth less. That whole model of paying per clicks is kind of changing. You see how brands are integrating advertising into content which is really the milestone to go on. Yahoo is kind of built on the old model. That is kind of a shift there. At least theyre selling a lot of it to make up the difference. Cheryl 224 billion Online Advertising market but yahoo lost most of that. Theyre the up withs really almost invented the online ad sales model, if you will. They have 1 1 2 of the market overall. Can the new company under verizon bring back the glory days of yahoo when it comes to ad sales do you think. I dont know. They will take yahoo and take aol, their other property, slam them together into something called oath. They will have a lot more eyeballs to sell. Yahoo s position on eyeballs trailed down as its position generally as a brand has trailed off. So can they bring back the glory days . Probably not. It wont matter. It wont be a yahoo per se. Cheryl do you think verizon will continue to put money into the content generation that yahoo is paying for . Talking about some highticket folks like katie couric and other correspondent . If youre on the website now, it is difficult to find a lot of that work. Do you think verizon will cut the cord on that . Yeah, i worry those are a couple of first things to go because it is difficult because of people like couric and david pogue, no matter what they will be fine but verizon may find a way to reposition them for the broader brand but they will not invest tremendously on that kind of content. However, they may look at video because video is hot. Cheryl video is hot. Lance, thank you for the insight. David he will stay with us. Cheryl okay. David we will talk again about buy american and hire american. Lance, i want to go back to you and ask whether or not a lot of h1b workers, Foreign Workers hired with h1b visas, whether their jobs could be done by americans . Because a lot of people in the, president saying that again today, the only reason theyre hired, the only reason they get these visas because theyre cheaper than American Workers doing the same job . Ive been working with the Tech Industry for decades. What i always heard they want skilled workers. They want people who understand technology. They want engineers, and over the years they found fewer and fewer of those people in america. That has been difficulty. And, i know it was interesting, betsy devos was there and trump talked about you know, she really wants to help build these skilled workers with, technology workers, however trump immediately started talking about vocational schools which are not the same kind of training we need for coding and for engineering. So, this is actually going to put american companies, Technology Companies behind competitively others because it will slow down the hiring process. They will have to sit there and really look, scour the country for the people they need, when sometimes theyre not david theyre not available, the point is, theyre not available. But, dan, im wondering then if that is true, is this just social engineering on the part of the Trump Administration. Yeah, i think to some extent it is. Theyre trying to force a result that as lance was just explaining isnt quite there yet. It is so interesting, betsy devos along, mostly this is a failure of the American Educational system. These people who have been in these jobs it, was not their responsibility to see which way the markets going. That is something for the companies have been asking for the schools to give people, train them with these schools skills for years. David dan, as you know, this is a problem it takes years, if not decades to solve. Well there has been some retraining of people working in other industries as lance was saying coding and so forth. This is specialized course. You do it for 18 months. You learn basics of coding. Some of these jobs in the industry are virtually like factory jobs. Were not talking about high level coding to create new apps or new products but sustain a lot of systems already in place. If we got our act together, we should be able to produce people who can do jobs like that. But we need the Education System to do it. Cheryl President Trump also mentioned at todays event that tax reform will be on the way once health care is dealt with. His treasury secretary though told fox business it would be sealed and delivered to the president back in august. Listen. Our objtive ito pass tax reform by the august recess and think that is a very aggressiv timetable but realistic, and something that the president and i are very committed to doing. So by august, voted done, agreed . And signed. Cheryl well, a lot changes in a month. Mnuchin is now telling the Financial Times that that same deadline is highly aggressive and not realistic. I want to bring in our panel. What were looking at, gary a few moments ago, kevin brady, chairman of the house ways and Means Committee said he will start hearings on tax reform next week. They will start the work, gary. This is after the bell this news is breaking. Gary they said they will go ahead and get to work on tax reform. What do you think the market will make of that news tomorrow . Look, weve seen a lot of confusion the last few weeks. One day they say its a few months away. Then well start it up. Start it up yesterday. That is the best thing they can possibly do and heres why. Markets are expecting it. Consumers are expecting it. Businesses have been planning for it. The longer they put it off the worse things are going to be. When i heard not august, im real worried because there is something called 2018 coming up when politicians move all over the place based on whether they get elected or not. If they dont get something done, everything will be affected in a negative way. Lets hope markets react well if they push this forward the next week or so. Cheryl what is interesting, dan, at the same time, kevin brady can of course begin hearings on that. There has been a been a lot the chatter, particularly at treasury what tax reform will look like. A lot of folks are excited what tax reform will look like. We havent had meaningful reform in decades. At the same time the Health Care Bill is a meaningful roadblock and to the schedule. Dan, do you think we have issue with tax reform and delay . I think we do. Health care reform looks dead in the water. A lot of money involved in pulling off a vision of obamacare that was going to be wrapped into the baseline for tax reform. But i think chairman brady, house ways and means is on to something. They are going to move forward. Look, they have a bill, the white house says theyre going to start writing a bill. I suspect they are. But the house members have something that at the want to work on. Theyre going to push it forward. The question is, big question is, a, would they get support for their bill in the senate. And second thing is, the position of the democrats right now. We had the story today about them screaming for Donald Trumps tax returns. What that tells me is theyre going into complete opposition on taxes as well. Thinking if they force everything to come to a standstill, they will pick up the pieces in 2018. David they will not get any democrats along on tax reform. British Prime Minister theresa may shocked the country calling for a early election. The move pushed the pound way up, but led to stock losses by a lot of British Companies that depend on cheap currency for all their exports. Dan, the point here i think, if ingot it right, correct me if im wrong, theyre trying to find a way to separate from the bureaucrats that interfere with business in europe but at the same time keep the trade routes open. Is that what theresa may is trying to do . In large part. She is trying to earn a larger mandate. She is working off the cameron majority she had. She has a slim majority. There is a lot of division in london over brexit. She is saying her cards on the table that youre either with me or against me. The odds she will increase her seats in the parliament. Then able to move forward with a stronger hand and leverage that into her negotiations with the european union. David some people say she may have historic victory here by getting a huge majority. Dan, gary, thank you very much. Gentlemen, good to see you both. Cheryl we have breaking news, guys. Ibm reporting First Quarter results. The company down more than 3 afterhours following a miss on revenue. This Technology Giant reporting a decline in revenue for the 20th quarter in a row citing weak demand in Technology Services business. David, there there you go david too bad. Looks like it is going down further over 4 . It is desperate concerning details who the terror group may be turning to for help. There are people in the world who are willing to help isis. Extraordinary. Well tell you the story. Cheryl americans are frustrated with inaction with congress. Theyre on vacation. Results of a brand new poll, it doesnt look good for chairman paul ryan. David people dont Like Congress right now. Voting is underway in georgias special election, one district that could have huge ramifications in d. C. And across the country, so much so, focus of several of the president s tweet this morning. Karl rove joining us with more on what at stake. Liberal democrats from outside of georgia are spending millions and millions of dollars trying to take your republican congressional seat away from you. Dont let them do it. So what else is new . Hows your mother . Umm. Shes doing good. She needs more care though. She wants to stay in her house. I dont know even where to start with that. First, lets take a look at your Financial Plan and see what we can do. Ok, so weve got. Well listen. Well talk. Well plan. Baird. Or how high the pollen count, flonase allergy relief keeps your eyes and nose clear. Flonase helps block 6 key inflammatory substances that cause nasal congestion and itchy, watery eyes. For relief beyond the nose. Flonase. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. David Georgia House election underway as President Trump is pushing for a republican win. He is tweeting out democrat jon ossoff would be a disaster in congress. Very weak on crime and illegal immigration, bad for jobs and wants higher taxes. Say no. Here is karl rove, former deputy chief of staff under george w. Bush. He is also fox news contributor. Karl, first of all, i just found out the guy do