Entire Technology Sector showed weakness towards the ends of the week. Friday morning gdp was 2 for the Second Quarter. It was an epic fail in the senate for the healthcare reform battle. All 48 democrats and 3 republicans voted against the socalled skinny repeal bill. The deciding no vote from arizona senator john mccain saying he want a bipartisan approach to changing obamacare. Foxconn announced its pledging to advance 10 billion to build a plant in wisconsin that could employ between 3,000 and 13,000 workers. Three of the socalled fang companies. Technology has bent Leadership Group since the beginning of the year. Joining me is david bonson. Thank you for joining us. Tech was on the down side this week. Do you see that as a buying opportunity or do you think the valuations in technology have become excessive. No question the valuations are excessive and the dips are so minor, even if one wants to buy on the dip, this wouldnt count as a dip. Maria apple reports earnings next week. Would you buy apple here . We own apple at the bahnsen group. But we like where its at. I would expect the stock will come down. It has a monstrous run this year. High 20 gain on the year. But the story with apple when a new product cycle comes is it dips at announcement. Im not expecting it to jump, but if it were to dip enough we could come back in. Maria the double digit gain from november of last year on the markets. Would you put money into stocks . Its a great environment to be owning stocks right now. You have low inflation and Global Conditions that are across the board better. Back to where we were a year and a half ago, its he morning markets, europe, japan, china. All of which have settled. The real story is the earnings acceleration in the united states. The problem is valuation. And then there is concern about washington, d. C. And the ongoing volatility. But what i have never seen in my life is a decorrelation like this between the market and what d. C. Is doing. The markets are shrugging off virtually anything coming out of the white house. Anything that getting done on capitol hill. The reason for that is a healthy earnings environment in corporate america. Maria the First Quarter we had profits up 13 . The Second Quarter its looking like 6 , 7 profit groups. So you have a strong earning environment, and there is still hope for potentially maybe a precall option on something good out of d. C. I dont think they are overly worried. Six months ago we were optimistic about Health Reform and tax reform. But we were worried about trade. At this point most of of that seems to be more bark and bite. You would think it market would be happy by the, but they are not getting the other things done. Boor prr more wall street week and house peak per paul ryan next. Announcer House Speaker paul ryan ready to break ground paul ryan ready to break ground on tax reform. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. 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. Maria welcome back. The Obamacare Repeal is dead at least for now. House republicans are on to tax reform. That was the topic when i sat down with Speaker Paul Ryan thursday. He suggested the border adjustment tax will not be part of his tax reform plan which something he previously wanted. We think most of of all that is important is that we come to Common Ground on how to do tax reform so we can get it done in 2017. What i and other house leaders who have been pushing the border tax i still think it the right way to go. But if it will stop us from getting tax reform done, we dont want that to happen, meaning the border ajust its more important than anything that we get tax reform done because we think it critical for strong economic growth. We want to go through and look at the details to see if there is a viabla viable a viable alternative to a border adjustment tax. Looking at thanks rates and expensing. We want to make sure we can achieve those things without having a border adjustment tax. Once we realize that is viable we agreed we need to go on a common template. The ways and Means Committee and the finance committee, we tasked them with writing the details of this tax reform. Getting consensus between the white house, the senate and the house on the way forward makes it that much more a viable enterprise. I feel much more confident well stick the landing on tax reform. We have consensus, here is the framework, get it done. Maria does it have to be revenue neutral. It has to be compliant with our reconciliation rules. In the house weuse Macro Economic scoring. So we take into account the economic effects of tax changes and use a realistic baseline that reflects current policies, our current policy proposals. What that means is we can have a big tax cut but also make sure that we are in compliance with our deficit rules and deficit targets. Do you need tofind revenue somewhere else . The point im making is, with all the tools we have to make sure retake into consideration the economic effects. Maria you are expecting 3 growth in. I dont think we can get to 3 Growth Without tax reform. Regulatory relief, work on labor supply, welfare to work. But tax reform. You cant get to 3 growth in my opinion without tax reform. Thats why its so important and we all agree. We as republicans especially now agree on how to do it. Healthcare is a good example. There is not a complete consensus on how best to do healthcare reform. Healthcare we cant put everything we want in a reconciliation bill its one of the reasons its become difficult. Tax reform, we can put the entire package inthis reconciliation bill. One bill, and it brings tax relieve to families and businesses and makes us globally competitive. Maria where are the avenues to raise revenue . You have got to broaden the base to lower the tax rates. We need to clear out loopholes abductions so we can lower tax rates for everybody across the board. We believe on the family side, raise that standard deduction, get away some of the cofferouts, but preserve charities and retirement savings. But clean up the tax code to help consolidate thanks brackets. On the business side, you have got to take away loopholes so you can lower tax rates and thats the work our tax writing committees will engage in doing. We believe we need to make sure we prioritize those things, retirement savings, but we also think by raising the standard exemption tore families we can simplify the code. Most of people dont have to itemize their deductions. So they have dramatic simplification but homeownership, charitable giving. On the business side, we know we are the last country in the industrialized world that says you cant bring your money back home, you will get taxed if you do. We have to get rid of that. So companies with cash parked overseas can bring their money back home. Its 2 to 3 thril trillion doll. We have to get our tax rates down on businesses so we are in the hunt with respect to global competitiveness. The top passthrough tax rates 40 . Its making us uncompetitive. We know we have to get those rates down. Maria something that wowed and struck a lot of people who voted for your party and donald trump. Do you support white house strategist steve ban noon proposal hes willing to raise the highest rate up to 44 . The trump plan the president put out earlier in the year fits our preferences. I think his rates for 10, 25 and 35. Thats where we have consensus. The president s plan that he put out with secretary mnuchin and cohn are the areas we are look at going. Im not going to comment on something i dont know about or have seen. But i have seen the president s framework on tax reform which is what we are work on. Maria it seems like a republican 44 for the highest earners. There are some other things do you with the obamacare taxes, its 44. 6 . Getting the rates down, we are in the business of lowering tax rates. The point is, the president himself with his economic advisors put out a framework that we think really works. Now on the business side, we spent the last three months look at making sure there is a viable alternative to a cash flow border adjustment tax that allows us to become a territorial system. Now that we are confident that that is achievable we are moving forward with the same template in agreement so that our tax writers can go get this done and we can pass this this fall. Maria some people would say if you are not for cutting taxes on the highest earners, you are not for cutting taxes. The highest earners pay most of of the tax. Most of of these pairs are businesses. We tax our businesses as individuals. Ll krrkss, sole pro pry towards. 90 of the businesses in wisconsin are paying their tax as individuals. We compete against canada every day in wisconsin. Their tax rate is 15 . England is going to 17 . China is 25 and going down. The average in the industrialized world is 22. 5 . We have a consensus on how to do that and thats whats important. Maria for more of my interview with House Speaker paul ryan join me sunday on the fox news channel. Announcer tech giants are always on the hunt for the next unicorn. The companies in order to move their needles have to think move their needles have to think big as well. I love to eat. I love hanging out with my friends. Move their needles have to think big as well. I have a great fit with my dentures. I love kiwis. Ive always had that issue with the seeds getting under my denture. Super poligrip free. It creates a seal of the dentures in my mouth. Even well fitting dentures let in food particles just a few dabs of super poligrip free is clinically proven to seal out more food particles so youre more comfortable and confident while you eat. Super poligrip free made even the kiwi an enjoyable experience try super poligrip free. [ intense music playing ] ] its here, but its going by fast. The opportunity of the year is back the mercedesbenz summer event. Get to your dealer today for incredible onceaseason offers, and start firing up those grilles. Lease the gle350 for 579 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Maria it was another big week for technology and am is reporting earnings as well. These are the Largest Technology companies and collectively they have a market value of better than 3 trillion. They have been leading this market all year. Ann winblad weighed in. Ann winblad these companies are quite large. We noticed a lot of big moves. Microsoft bought linkedin. And i think well see more acquisitions from these companies at that scale. We noticed a big acquisition by amazon in process of whole foods. These companies in order to move their needles have to think big as well. They are also investing in small come any. Google was one of the most of prolific investors in small come any making small bets on a distant future. Microsoft last year created an investment arm. Apple does not have an investment arm. Amazon has an alexa fund where they are investing in Internet Companies to complement their amazon ecos. So that money is going multiple places by all of those companies. Maria we talk about these top Technology Companies a lot because they just wont quit wet were its am or amazon or google parent alphabet. They have listen so much. Do you think they will continue rising . Are you worried about valuations within the Public Market . Ann winblad the valuations are high. But when you look at the potential of these companies, most of of these companies, microsoft, amazon, much Younger Companies than microsoft, alphabet, they already dominate multiple innovation cycles. Usually when there was a new innovation cycle, companies were left in the dust and didnt carry on and they had to rise from the dead. Now these Companies Continue to build point innovation cycles. Look at google. They came on at the 1999 crash owning search. They moved on to own internet advertising. Look at the areas where theyare putting bets fromathon plus vehicles to Digital Health to operating systems for smart phones. They moved solidly from one innovation cycle to the next and they want to own the next one. They have the research dollars, the investment dollars. They have the moan men actual and ownership of our wallets and minds to really be even larger companies. And that is why people continued to invest in these companies and why the valuations are ahead of what you normally see. They are investing in a really bright future. Maria you think this is the growth story and it goes higher. Lets talk about the sectors where you are seeing the most of security. You have got cybersecurity with 576 million invested year to date. Digital health, Artificial Intelligence and auto technology. 254 million invested in auto tech year to date. Talk about the sectors and where the opportunity are right now, ann. Ann winblad well see cybersecurity to be an investing area for a long time. Its one of the Biggest Challenges we have in this digital world. Its what are the bad actors going to do if the bad innovators want to innovate. The number stated by the Venture Capital surveys was somewhere between 500 million to a billion invested in cybersecurity companies. We are seeing some of the Younger Companies get the mega round. This last quarter there were 30 over 100 million venture round. And many were in security companies. That will be a continuing theme. Artificial intelligence, anything that build Smart Systems is. The big topic. Last year there was 5 billion invested in Artificial Intelligence, our smart companies. So its very crowd at the starting line. Starting line. Maria today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. 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Maria here is a look at some of the big market events coming up. Pending home sales are out. Personal income and spending as well as the jobs numbers. The employment report typically a market mover. They will be important numbers to watch. Be sure to tune in next week for mustsee coverage of the jobs report on mornings with maria. Pandora. Bp, and cigna, all Important Companies to monitor on their earnings. Leon panetta my special guest next week. That will do it for us on wall street week. Have a great weekend. Im bob massi. For 35 years, ive been practicing law and living in las vegas, ground zero for the american realestate crisis. But it wasnt just vegas that was hit hard. Lives were destroyed from coast to coast as the economy tanked. Now its a different story. The American Dream is back. And nowhere is that more clear than the grand canyon state of arizona. So we headed fro