. >> shepard: i wanted your take on these markets and eight down days in a row. go back a little more than five years. we're still up 12% on the dow since the president's election. it's as if the markets are getting nervous. >> they're getting somewhat nervous. the dow was off 184 points. oil was down, dollars were down, the yields were down. everything turned around. some of it went positive like the nasdaq. this is an orderly retreat from a market that got overheated, a few question marks about where we go near term. the evidence that i'm seeing about the economy here in america and abroad, very, very strong. that could justify a higher market. but washington looking at washington d.c. and hoping they don't drop the ball. >> neil: what do they want? big changes like the tax code? >> they want big changes to tax rates. we know the tax code is taller than the empire state building. it's not going to be perfect, but if you can get them low enough so they're competitive, the corporations promise that they will bring jobs back, intel $7 billion. eli lilly saying we

. >> "shepard smith reporting." interesting developments today and foreign policy. this afternoon, secretary of state rex tillerson announced from south florida that the president of the united states had been deeply impacted by the syrian strikes, the syrian missile strikes, i should say criminal, chemical strike that killed dominic some 80 people. the syrian dictator, bashar al- assad launching that attack on his own people, leaving more than 100 people wounded. the president had previously said that the syrian people should decide the fate of bashar al- assad. the secretary of state suggested that the united states might be leaning in another direction. here is what he said about the chemical attack by the syrian regime. >> that attack on children yesterday had a big impact on me. big impact. that was a horrible, horrible thing. i have been watching it and seeing it and it doesn't get any worse than that. i have that flexibility. it is very, very possible, and i will tell you it has already happened, that my attitude toward syria and assad has changed very much.

i'm harris faulkner in for shepard smith. "your world" with neil cavuto is now. >> neil: all right. a nice piece of work. welcome. i'm neil cavuto. you're watching "your world." a very solid jobs in april. 211,000 of them added. that was more than thought. what is more is we had some stunning news on the unemployment front. we're going to get into that with degan mcdowell. first of all, you're going about 20 straight hours on the air. this should be interested. tell us what happened. >> and i love my job and i love you. i won't foul this up. how about that? neil, the s&p 500 a broad measure of the stock market and the nasdaq composite just closing at new record highs. investors found something to like in this jobs report. you saw it on the screen there. a very healthy 211,000 jobs created in the month of april. economists were expecting a lower number than that. the unemployment rate falling to a ten-year low of 4.4%. robust jobs report. there were revisions to the month of february and march for a note loss of 6,000 jobs. remember, march was a weak month for job creation. neverthel

. >> shepard: it's 3:00 in washington where the president of the united states is asking whether it's time to challenge some tv networks licenses over what he calls fake news. the president tweeting after nbc reported that he asked to drastically increase our -- asked about drastically increasing our nuclear stockpile. minutes ago he told reporter what's he says really happened. he's getting some backup. but this afternoon, the president turns to taxes. for republicans in power, the stakes could hardly be higher. after healthcare failed, they need a win. but can they get this one done? and in california, stronger winds this afternoon

on the west coast, i am shepard smith in washington atop the chamber of commerce building. been here a while, just across from the white house on fox broadcast network from coast to coast. right now the inaugural luncheon is underway and shannon bream is looking at activities spreading pass this moment. shannon, to you, good afternoon. >> good afternoon, shepherd. we are a block closer, i can see the back of your head where you are. that is the white house as folks are gathering here, dignitaries being brought in. that is the first family will sit in the viewing box as it comes by. it is unusual in many ways because first of all it is a 2-mile check from the capitol to the white house. there are a lot of things that happen. some presidents stay in their car, some get out and walk. there are large crowds here, it is a very controlled and secure environment. still, when it is a brand-new president and family walking around, it is extra work for the secret service, they are prepared for that. today the parade route will pass by the trumps international hotel. one way or anothe

alex a stanford college student putting up his middle finger for several seconds during shepard jeopardy's college championships. no one seems to notice though what he was doing. there is a theory in geometry that explains really well while if you fold a slice of pizza the tip stays in the air so you can eat it easily. abby: when he was called out on twitter he responded exlettives right. pete: try it at home. i will try it behind this paper if you try to fold it. you are actually -- actually have you got a. clayton: got a piece of pizza that's what's going to end up happening with your middle finger. abby: good recovery, boys. good recovery. pete: you can try this at home. don't listen to clayton, kids. religious leaders in one major city are creating underground sanctuary to hide illegals. is it unchristian to do otherwise? we will debate it next. abby: plus, we still got a huge show on tap for you. geraldo rivera, david webb, charles payne, they are all joining us live. stick with us ♪ she told me to walk this way ♪ talk this way ♪ walk this way ♪ talk this way ♪ she told me t

. >> shepard: signed an order formally withdrawing united states from the transpacific partnership deal trump trump we want to start making our products again. we don't want to bring them in. we want to make them here. >> break neck pace pushing forward the elm battled and delayed keystone pipeline. >> get that pipeline built. a lot of jobs. 28,000 jobs. >> donald trump ran on campaign promise to build that wall. today the focus is on immigration. >> beginning today, the united states of america gets back control of its borders. gets back its borders. >> we'll be in a form reimbursed of by mexico. >> so they will pay us back. >> yes, absolutely. 100 percent. >> president trump holding first bilateral news conference with president with u.k. prime minister theresa may and it was short and sweet. >> it's clear that theresa may is looking for a friend in president trump. >> special relationship between our two countries has been one of the great forces in history for justice and peace. i'm establishing new vetting measures to keep radical islamic terrorists out of united states of america.

sta >> we joining us this morning.ni our coverage continues with foxx news and shepard smith.mi thank you for joining us forni your early coverage.arly we'll be back with paradee coverage. we'll see you then.coyothen ♪♪♪♪ this is a fox news special presentation. sea. i'm shepherd smith from your nation's capital. today, we'll watch along with you as the nation welcomes our next leader to the white house. today is rich with pomp and pageantry and parade right down pennsylvania avenue. it's also a day to put aside

that's ahead this hour on "shepard smith reporting." i'm trace gallagher. president trump praising the new tax plan and praising the biggest tax cuts in history. he also promised to make the tax codes simple, easy and fair and he says the u.s. needs to encourage companies to stay in america. >> one team, one people and one great american family. this can be remembered as the moment we took control of our destiny and chose a future of american patriotism, prosperity and pride. >> the white house and republican leaders have released a frame work for overhauling the tax code but still missing a few details. it calls for doubling the amount that isn't taxed for $12,000 for individuals and $24,000 for married couples. he would reduce the number of tax brackets to three, 12%, 25% and 35%. still no word on what income levels fall under each bracket. the plan would get rid of the estate tax, which critics call the death tax. some democrats say the plan doesn't do enough for the middle class. senate minority leader chuck schumer called it a sweeping tax cut for mill