Some may hate them. Well tall what they are. You get to decide. And what happened earlier at the white house is also playing a big role in todays rally. President trump setting a trap with the stroke of a pen he launched an investigation into whether chinese and other foreign may feel is a threat to americans, not economics. But National Security. U. S. Steel stocks are surging right now on that. Weve got our fox Business Experts standing by to tell you how all of this could affect you and your portfolio. Brad blake man and robert on steel, taxes, and the Gop Health Care plan. General jack keane on the accusing message secretary of state Rex Tillerson just sent about the Iran Nuclear Threat and what about north korea . What do we do there next . Dont cut up that amex card or countdown American Express charging up major gains, less than an hour to the closing bell with the bulls firmly in control. Lets start the countdown. Liz breaking news as we await the rival of italian Prime Minister. Lets get to this big rally adding some earnings adding latebreaking regulations that you and american businesses are about to see a real tax cut plan, throw in a possible deal of health care, and you have a recipe for a raging bull run. The Dow Jones Industrials just pulled back by about 30 points a minute ago but still up 185 points, poised to snap twoday losing streaks as well as the s p. Its up 18 points. The nascar i nasdaq is to hit record territory, it was up a pretty significant 62 points. And charging ahead the rest of the dow components, American Express. Look at this stock right now. Up nearly 6 at this hour. It started up 3. 5 , and then it started to grow and grow and grow up five and a half and now up nearly 6 as the Credit Card Company managed to beat expectations on earnings, even as it was dealing with the limitation of a long Time Partnership with costco last year. Also card member spending raised the cost because you guys are buying a lot more. And steel stocks are getting a major bump this hour, all posting major gains right now. Let us go to the white house. Where we have the Prime Minister of italy to meet with President Trump. You know, he got that position december 12th after mateo stepped down when his plan to in essence overhaul the senate was rejected in referendum and suddenly you had him taking the role. He was minister of communications for ten years. Member of parliament. Also a journalist a long time ago. He is center left. But he has taken a strong stance on immigration, illegal immigration of libyan migrants coming into italy, sole probably have a lot to talk about. The two leaders going into the oval office right now. They will later hold a joint press conference where the president is sure to be asked about the timeline for tax reform, a deal on health care too and global affairs. This as the president announced earlier hes cracking the whip on his America First trade policy. What he did was sign his memorandum, which in essence asked are u. S. Steel a risk to National Security . That got a lot of people how foreign steel coming in a risk to National Security . We know it hurts the u. S. Businesses in steel but lets get to adam shapiro whos standing by at the white house. Adam, you know, as i look deeper into this, he had a point that hes pushing here. Yes. And hes got a legal point from a law passed in 1962, which has now been used and the secretary of commerce wilbur ross over the 270day period. Its not the dumping of the foreign sale but dumping from countries like china, whether that poses a Security Threat to the United States because were about to begin, potentially, a buildup of our military and steel will be necessary for that. Theyll be looking at whether steel imports cause American Workers to lose jobs, theyll be looking at negative affects of steel imports on government revenue. But also, any harm steel imports cost the economic welfare of the United States as well as from a National Security standpoint. This is who complained on not only protecting American Workers, but also enforcing the existing laws so that we dont lose american jobs. Heres what the president said when he signed the memorandum. Trump steel is critical to our economy. This is not an area where we can afford to become dependent on Foreign Countries. And we have product where we actually need Foreign Countries to be nice to us in order to fight for our people. Liz, you and i have very good friends still in cleveland, a steelmaking mecca, it was steel in the 90s, and it went bankrupt because in part of chinese steel in the United States. We have frndin the Steel Industry, and this is the kind of thing theyre looking to. They can compete and actually the steel ceos who were here were asked can you meet the demand . Because theres more demand than the United States produces. They said we can try. So this would not stop the importing of foreign steel. But if they conclude that there is dumping, and it does pose a threat to National Security, it could lead to the imposition of tariffs, which would make foreign steel much more expensive for people to ay. Nothing will happen immediately. They have to finish the investigation first. Liz adam, i really i look at this, and i understand it. But we need to articulate to our viewers what this might mean for people in construction if they are forced and we dont know what will happen but to use u. S. Steel, the most recent pricing. Theres hot coil, look at the hot rolled band steel here. The chinese charge just 404 per ton. Western europe is 574 per ton and then the u. S. Jumps to 713 per ton. And, you know, President Trump when he was doing his real estate deal often used chinese steel because it was less expensive. What does that mean for this capitalist spirit . Liz, to answer your question, a couple of things. First, if they find the law being violated, it will raise the price from that steel of europe and china but also, remember, the Chinese Government in subsidizing these Steel Industry does things that the u. S. Does not do if its Steel Industry. You cant compare, say, chinese steel to u. S. Steel because the input cost, thats one thing you can look at. But whats not factored in is what the Chinese Government is doing to keep steel cheap for their manufacturers. Liz and what the japanese government used to do. Adam, thank you very much. Adam shapiro. Moments ago, treasury secretary Steven Mnuchin left the stage at the washington politics summit actually, is this a live picture right now . No, he had left the stage and National Economic director gary cone on the right just finished talking and of course the big elephant in the room before mnuchin took the stage was when will we get tax reform . That elephant shrank to a more realistic picture because guess what . Steven mnuchin jumped in and gave details but lets get to what gary cohn just apparently had to say. Four basic plans when we started. We talked about health care, taxes, infrastructure. In that order. Part of our tax plan may be to use some of the repatrioted money into an Infrastructure Fund or infrastructure bill that said, you know, we think bringing private capital in a alongside the government or even privatizing some of the amou of sense. Makes enormous liz okay. When you heard gary cohn, charlie, just Mention Health care then tax reform, it was mnuchin who said well get this tax reform done whether we see Health Care Reform. I think thats why the markets are jumping so dramatically. Yeah. I mean, listen, this just proves just how attached at the hip i guess is the best cliche for it. The markets are what tax cuts particularly Corporate Tax cuts. I mean, were near dow 21,000 because traders and investors priced into their earnings models the stimulative stimulation of a Corporate Tax cut down about from 35 to 20 and how that would stimulate earnings for major stock. Major companies in these stock market averages. Thats the bottom line. Every when the administration throws cold water on that, you see that the markets cool off. The dow is down approximately 5 600 points since early march when it became unclear whether the timetable at whether we need to get them this year, with the president meaning the Corporate Tax cuts. But mainly the Corporate Tax cuts is what the market is focused on. I will say this. You know, were getting one problem with the Trump Administration is that there are multiple people saying multiple things about this. So Steven Mnuchin comes out and says we do get tax cuts and tax reform, he actually said. I would like to see what the reform is, no matter what happens with health care. You have others in recent days on the record spokesman for the Trump Administration saying there is no timetable. Dont even count on it this year. And we have the president telling us on fox business that youve got to get health care first. If you dont get health care, then the tax cuts that we get and the reform we get is a lot more mild. So, you know, i would just say this markets are very on volatile. I saw right before the financial crisis stocks go up tremendously based on a headline that showed some degree of positive sentiment. Be careful on this, you know . Weve got to see the plan. Listen, i want the markets to go up. We all do. We like when people make money. Liz you had said were closer to 21,000. Youre right. Were at 20,604 right now. So less than 400 points here is all we need. The dow up 200 points. Heres the thing. Physical go down if tomorrow we find out that health care is off the table, the Corporate Tax rate is not going to go down to 25 or 20 as theyre talking about, its going to go to maybe 30 from 35. And then youre going to get a pull back. So just we dont know what the plan is. And, you know, we could guesstimate it. They dont know what the plan is. And one of the reasons they dont know what the plan is because the big tax cut, this is what theyve been saying. Im not saying they should do this, im just telling you what the Trump Administration has been saying and gary cohn, the head of the nec, in particular, the National Economic counsel, we can get a Corporate Tax cut to 20 if we get the Health Care Bill passed. There was some positive word on health care today. But its hardly definitive that the House Freedom caucus, which held it up the last time, is going to agree on this. And if they do agree to it, whether they lose moderates. So this is lets just say its a work in progress. Keep watching us. Well tell you exactly whats going on. Liz yeah, and keep watching us, and well see if i get hostile with you again. Not hostile to you. You and your producers made me drink that stuff and im filing a complaint. Liz tomorrow, im going to let our viewers decide if i was hostile. You made me before i got on the air, you told me you would you basically said some i dont wanto get into it. But you made me you made it that i had to drink that stuff and that stuff is not good for you. Liz no, you started drinking it before we even im telling you. Im mad. Mad. Liz lets let our viewers decide and show them exactly what happened tomorrow. And, by the way, my mouth was glowing for three hours after i drank that stuff. Liz i almost through it on you just because i felt like it. We need to look at the nasdaq. Can we punch that up right now because it is jumping, hopping up 60 points. If it stays above the previous record finish of 59. 14, were at 5923 right now, that hit at the end of march, i guess, then the technology composite will finish at a fresh record today. Lets get to the new york stock exchange. That will be exciting, lori. Indeed, liz. So were safely above that closing record right now. It would be the 22nd record close for the nasdaq this year if we do stay above that level. The intraday, the during trading day high for the nasdaq. That level 69. 36. Lets unpack this, look at the stocks that are driving the nasdaq to these record highs. Csx news here, the Railroad Operator reported better than expected earnings and of course with all the news about the steel makers and the president looking into the Steel Industry. Well, csx, the railroad transports a lot of coal to those steel manufacturers. The csx joining a large bunch up today, up nearly 6 . Dollar tree, bed, bath beyond, all gainers on the nasdaq. Dollar tree, bed, bath beyond, retailers, we heard from the treasury secretary earlier today saying that tax reform is a high, high priority. He also mentioned the border tax issue, and expressed some concern about that that a verizon dollar could, you know, hurt that. So thats benefiting some of the retailers. Thats an argument im hearing on the floor right now. Liz retailers have had such a great couple of days. Lori, thank you so much. Okay. The closing bell ringing in 45 minutes and the bulls firmly in control taking a look at the dow heat map here. We have American Express at the top. Verizon came in with numbers that shocked people, and it wasnt so much their earnings, it was the first ever quarterly loss of subscribers. Secretary of state Rex Tillerson labeling the Iran Nuclear Deal a failure after the state Department Says the nation is complying with the terms. He said this just a day or two after his own state Department Said something completely different. And now another member of the team trump is doubling down. General jack keane is here to tell us if that deal is really just delaying the inevitable, a nucleararmed iran. Well talk more north korea too. More countdown on the way 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. 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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. Hey youve gotta see this. Cno. N. Alright, see you down there. Mmm, fine. Okay, what do we got . Okay, watch this. Do the thing we talked about. What do we say . Its going to be great. Watch. Remember what we were just saying . Go irish see that . Yes im gonna just go back to doing what i was doing. Find your awesome with the xfinity x1 voice remote. Liz breaking news. President trump welcoming italys Prime Minister to the white house. Just moments ago, they allowed cameras to come in and take a quick picture of the greeting. By the way, hes a former journalist, he did turn politician. He replaced former Prime Minister mateo four months ago in the midst of a banking crisis in italy. By the way, the country still dealing with that banking crisis. Before arriving at the white house today, he discussed security a few hours ago, security in the mediterranean. This at an event in washington, d. C. At the cen