A show of force for north Korea Holding a live fire go to mark the founding of its military. What that means after President Trump some of the 100 senators to the white house yesterday. A status update on Corporate America is a busy day. Several dow components had to report their First Quarter. We will hear from dupont, caterpillar, but donald, cocacola, 3m ahead today. After yesterdays big rally, features syndicate another day of gains today. The market to add onto the triple digit of yesterday. Nasdaq s p 500 also positive territory. PicS Performances to report. 5100 the cac quarante at a quarter of a percent. Dxm fractionally. Kids across the board is used to unique a average in japan and the hang seng in hong kong best performers better than 1 . Driverless technology, apple and amazon a key hiring is to make on the competition. The history of the phone. National telephone day. A lot like another technology has transformed. All the stories this morning. Fox Business Network they can make that will. Chief correspondent bearing york is here. Great to see you. Good morning, everybody. Mr. Yesterday. Dagen i missed you. I hate it when youre not here, but things happen. Maria be the day yesterday. A lot of earnings. Policy coming down the pike. Taxes, trade. Dagen top story in the journal about the terrifying the canadian lumber. Top story. Is crazy these days because the top story was taxes paid the 15 tax rate and within a few hours today shifted to blame canada new tariffs on lumber. It denies to make you forget the government might shut down at the end of the week. Thats not a story because trump signaled he was going to give a little bit on the border wall to make sure the government doesnt shut down. Dagen and Media Press Releases from nancy pelosi and Chuck Schumer. Thanks for weighing in. Maria they are happy is willing to put the border wall aside for this week. Is not a complete border wall. We will learn more about what he plans to do. We are not talking 2000 miles even in this maximum land. Maria depending where you live, there are ways people are talking about to build a wall but its not a cement wall. We will talk about that. Weve got a great lineup of guests to weigh in. General jack keane is with us this morning. Texas congressman is here to talk with him about the border wall. Secretary health and Human Services and the beaded dr. Tom price is that this this morning. Chief of staff to george w. Bush and Fox News Contributor karl rove. President ial candidate and Ohio Governor john kasich make an appearance today. That show ahead. Do stay with us. They cannot markets. Futures on the rise as President Trump is prepared to unveil the broad outlines of his tax reform plan. Treasury secretary Stephen Mnuchin and gary cohen said to me at the top congressional leaders today to discuss the tax priorities. He says the wall street journal reports this morning the president wants to cut the Corporate Tax rate to 15 even if doing so as to the deficit. Take a look at secretary mnuchins comments on this. He teased the tax thing yesterday. Watch. The average american should be able to do their taxes on a large postcard. Business tax reform. We need to make business tax is competitive and we actively not we will bring back trillions of dollars from offshore. The tax plan will pay for itself with Economic Growth. Maria lets talk about this tax plan. During the campaign, all the president talked about, that was sorted the guts guts of the plan. But then over the last several months, we would again maybe paul ryan was running out and is more like 20 . It includes a would see a 15 Corporate Tax cut. The president has a very narrow lane to drive in. In order to get the 15 tax rate, we talked about how hell accept that this is to get, but the problem is the way the legislative process works you cant have deficits outside of a 10 year window to get to the 15 . Congress has to find offsets to the revenue they get lost when you go to 15 . The president doesnt like the opposite they are proposing this border adjustment. Not a lot of room for him to work with. What we see today is hes becoming an asian kid who wants to get instead. I want you out with a plan next week. Maria as we approach 100 days. True to his entire agenda is about growing an economy that has been stagnant that is not automatic 3 rate in the last 10 years. This is far critical to the economy in terms of job creation even than rolling back obamacare and replacing it. This is his progrowth agenda and thats why its critical. Pcs to brian brady tax played with the border adjustment and it any of Congress People like marcia bought heard on this program saying i cant sell that to mike and achievements. Thats why hes pushing this even though its going to cost 2 trillion. Everything with donald trump is an opening position. 15 is an opening position. He wants as much as the kennedys taken its place and is taking its place in this Republican Debate about how much you can cut taxes versus how much you in greece deficit. Republicans almost always come down on cutting taxes to stimulate more growth and the idea would pay for itself. You heard Stephen Mnuchin say the same thing. Its a 15 . I really dont think so. You both hit on a critical point which is how much growth can you get out of the lower tax rate . The same 3 . Mnuchin said it again yesterday. A lot will come down to how Congress Urges this in the joint committee on taxation, the Congressional Budget Office judges this. If they dont see a 3 , youll not get enough revenue to pay for the lower rate. True through projections are much easier for Corporate Tax and individual tax code. Half of the American People dont pay no federal income tax anyway. America has not cut Corporate Taxes. Many other developed nations are. Even macron wants to cut the Corporate Tax to 25 . Prices including state and local 39. 1 . How much growth to get out of lowering it . Maria thats going to be the question because growth has been his priority throughout his economic conversation here. But it could be raising revenue somewhere else. But we sat down two weeks ago he said i dont like the border adjustment tax, but maybe its a reciprocal tax. He was talking about raising revenue somewhere has continued to take tough approach on trade. The Trump Administration said it plans to slap new tariffs on softwood lumber in the United States and canada. One white house official says the tax could go as high as 24 . What about that in terms of raising money that way through the trade and Economic Policy. Im not sure that in this case the tariffs are a way for them to raise money. It is a way for them to trump has been saying this is his campaign, to the fact that other countries with intricate united descent fairly. This is the opening shot in their strategy. When they see countries they think that dumping products whether its deal from china are manufacturing goods from mexico were lumber from canada, they are going to have that. Maria thats a whole mother way to raise revenues is what im saying. With the whole conversation of the border adjustment tax cut and subcommittee goes directly to this. I dont know if you could do enough of that on a casebycase basis. The border adjustment heads all imports. This canadian lumber fight is a fight now in its 200th year. Kind of an easy one for him to do. One great thing about taxes. He is going to attack about individual rates. Top rated 25 . This whole stephen jon mnuchin u could do it on the no card. A really, really big no card. Dagen one thing about the lumber. Americans could feel this. The cost of homes could go out. Homebuilders has coupled with higher labor costs since the housing crash. This is one place by the way, supply is extremely tight right now, particularly if you look at existing homes. We need more supply. You have to ask the question is this good in the way of Home Construction in the United States does that make it prohibitively marks the dividing americans have been priced out. Maria as the industry is gaining traction. One more point about growth. Not for tax cuts to get growth they have to be permanent. That means you got to find a way to get that extended beyond this 10 year window Congress Talks about. They sunset after 10 years. Which is that the bush tax cut day. A big argument in 2011 about extending the bush tax cut and almost all of them were. Maybe its not a terrible idea because down the line but keep it. Maria big as some of this. Well hear about this the next two days. Yesterdays Market Reaction i know was partly the french result, did you think it was also part of this, 200point rally in the stock market yesterday. Was it all the French Election question are there is a sense of relief across the United States. Dagen or the crazy leftwingers. Or coalition of both. It was mostly is started in europe. Didnt start here. Maria a watch that for sure. Whole foods share with her part of a possible takeover. We will check that out of the potential good coming out. Major companies before the opening bell this morning include caterpillar, but donald, cocacola and rehab. What to expect and how that might move markets. Stay with us. Transcendent comes right back. Maria welcome back. Arkansas executed two inmates in one night. Headlines tonight. Reporter good morning, maria. Good morning, everyone. Arkansas the first day since 2000 carrier to death sentences in one day. My son lives was pronounced dead after a blended 30 00 p. M. Jack jones put to death more than three hours earlier. Jones was sent to death row following the 1995 killing of a woman while williams allegedly killed a 22 women who he kidnapped from a gas station to all of this comes after four double execution initially scheduled over an 11 day period this month. Arkansas cited the expiration of his legal injection drug for the urgency of this. Canceled due to Court Decisions with the first to be executed last week. 6. 9 earthquake in chile yesterday rocking the capital santiago. Officials cant vote us in on the warning surely before it was issued. The reports of structural damage but networks were down. All according to a Government Spokesperson heard more details as we get them. Shares of whole foods shown to a 52 week high after albertsons expressed interest in takeover. To do your times reported they did hold up under talks about it. If a deal is made to be less than two years since albertsons but safely created that are as large as grocery chain that time behind walmart and kroger. Jumping 16 since the start of 2017. Bigger names before the bell today. Caterpillar coming in 62 cents a share and revenue of 9. 27 billion. Cocacola the estimate there. Earnings per share 44 cents. Finally comes the big one that almost reported today. The cub to do with eps of 1. 33 revenue at 5. 53 billion. A lot of Big Name Companies and movers today. Maria that is something that the markets in terms of the fundamental that drug. Dagen and nasdaq have a record high. Small caps doing well. Maria that tells you is that domestic growth story when you see small caps in the Domestic Companies doing really well. Do you think thats the best approach . Use in emerging markets do really well in this rally. Is that Global Growth story behind this as well. What we saw yesterday was the risk on trade. The market is back. Dagen field is is still below 2. 3 which is painfully low in terms of the rally we had from march 1st until recently. Maria youd think that is reflecting a weak economic story. Or low inflation. Sub is going to give. Maria will take a short break current Mortgage Rates dropping for the First Time Since november. It does take a rocket scientist. Apple hires former nasa engineers to catch up for self driving cars. Details coming up this morning. At angies list, we believe there are certain things you can count on, like what goes down doesnt always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. Discover all the ways we can help at angies list. Because your home is where our heart is. Thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov is [ beep ] show me top new artist. [ applause ] [ laughing ] show me top male artist. My whole belieber fan group. Its not a competition, but if it was i won. Xfinity x1 lets you access the greatest library of Billboard Music awards moments simply by using your voice. And thank you so much. The Billboard Music awards. Sunday, may 21st. 8, 7 central. Only on abc. True to the spring selling season heating up for housing and Mortgage Rates getting cheaper. Average rate on a sixyear mortgage declining 4 for the First Time Since november according to freddie mac. Cofounder and managing director of digital breath, jeff taylor. Thanks for joining us. Your Mortgage Association board board member. Rates with member. Great so they lowered even the lyrics to the season to pick up terms of business. Will tell you what, its a great opportunity if youre looking to buy a high spirit if you told me rates to be higher a month ago i wouldve said theres no shot. The set of signaling to do with the rest of the year. A great opportunity for people of the Housing Market right now became a firsttime purchase. True to do you think rates keep going lower . Why are we swear they are questioned or a little bit of international volatility at right now it dipped back down. I dont think it goes somewhere. Definitely rises up here in a couple weeks. If you are thinking on the sidelines, thinking about why the house, it do not think rates will get lower. To actually rise the next few months and ended the year. Are you saying that dignity of the refinance at the market or in the purchaser end of that market . You know, great question. We just recently did a survey on homeequity loans and shows a couple interesting statistics. One, homeequity loans at the highest point since 2007. The support they, people are using them responsibly. 50 to improve houses. A couple other points we saw. One of five people dont understand what a homeequity loan is an 80 of the habitat them. If you look at the harvard study that came out last week that shows remodeling is that an alltime high, that means people are looking to improve the existing house they have right now and homeequity loan is a great way to do that at 4 versus credit card is 17 . I wanted to ask him to does this mean that people are less afraid of debt now or they are just more likely to use it for more serious or persist . How afraid are people now batting that to their existing mortgages question or thats a great question. On the survey, are the 2 said they were fearful of any fearful of that event because fearful of any dead because of adjustable rising rate Interest Rate environment. Its like everything else. That if used responsibly is a very good thing. When you use a copy during the crisis, taking equity out of your house, thats a recipe for disaster. User meaningful things like Home Improvement or lifestyle event, like a medical bill is a very responsible tool. You talk about meaningful things like Home Improvement. During the housing boom was saw people pouring money into mansions, adding all kinds of bells and whistles on their homes and in the end they could afford. Isnt there a risk we get back into the environment of people blowing up their houses in two these mansions that are ultimately not going to pay off for themselves . Yes. To party in syria. The crisis a lot of it is loans were securitized. With Due Diligence that was being done on them. Was it merely steep as it is today with the banks but those on balance sheets. They are very much monitored with atlantic and where it goes. The second thing right now its across america right now, sales are at alltime lie with houses, price or she should. People can sell their house to minnesota to an crucified silent or would they want to live the poor bunny response to bleed into their house. Dagen is that the danger that you take out a homeequity loan, home equity line of credit in Pentagon Office in treatment of people have been haunted to believing for every dollar improvement they get a 2dollar resort dollar 50 cents increase in the value of their home. In many instances, that is not the case. Thats a very good point. Again, taking out the money to improve the houses got to be consistent with what you can afford. If you are doing it because you think to improve the hospital at the house to make a profit, that the wrong reason to take it out. Take it out because you want to make improvements to the house. Here that there is