"strange inheritance." thanks so much for watching, and remember -- you can't take it with you. e with us. until then, we get a weekend. >> announcer: from fox business headquarters in new york city, the new "wall street week." maria: welcome to "wall street week." the program that analyzes the week that was and helps position you for e we ahead. coming up. egyptian billionaire businessman naguib sawiris is my special guest. he'scalling for air rob businessmen to pull money out of qatar. he says otherwise you will have blood on your hands. former f.b.i. director james

comey testifying thursday about his conversations with president trump. james comey admitted he leaked his memo to a friend with the intention of passing it on to the "new york times." he said he leaked this because he wanted to trigger the need for a special counsel. another big moment was whencomby's then boss loretta lynch directed him to characterize an investigation of hillary clinton as a matter, not as an investigation. he said that made him queetsy. he said lynch's private meeting with bill clinton on an arizona tarmac led to his decision to publicly declare his judgment in the hillary clinton email probe. a surprise in the united kingdom. theresa may and the conservative party failing to keep a majority. it appeared she was going to expand her majority.

that didn't happen from the snap election. it will have major ramifications as they plan their exit from the brexit e.u. oil prices one of the stories of the week. seeing the biggest drop in three months due to a surprising surplus in u.s. inventories. gasoline prices saw a drop at the pump. the obamacare death spiral continue and some health insurance, announcing it will be the latest to exit the ohio marketplace. the move expected to leave 18 counties without a single obamacare option. joining me now to talk about this week's flurry of activity and how to invest, liz ann sonders joining the conversation.

you have been focused on fundamentals. not all this noise in terms ofism pacing investors. how do you see markets right now? liz ann sonders: what has been missed in the short-term stuff, in particular, the political uncertainty and trump and comey. the entire bull market has been driven by liquidity. not just what was provided by: the feds. but global central bank liquidity. money supply is close to the same size as u.s. economic growth. and it's growing faster. so when you have excess liquidity, it needs to find a place to go, and it found a place in equities. then you had the turn in earnings which has been the underpinning of the most recent move in the market. i think this obsession over things like trump and the

short-term of news, i think it's noise more than anything else. maria: you look at the overall earnings picture. earnings were up 15% in the first quarter, and the second square we are seeing earnings up 6% in terms of expectations. so a good backdrop for stocks. liz ann sonders: when you look into 2017 you are looking at double digit earnings growth. and back to the whole political aspect and trump, a lot of people make the assumption if we don't get tax reform in 2017, if it gets pushed into 2018, that that's a negative for the market. but nobody has added anything into earnings estimates even for 2018 for corporate tax reform. an of any of these pro-growth policies. so if we get them it's added to earnings.

but if we don't, i'm from the sure that's a negative from a growth standpoint. maria: i was make that assumption. people are expecting a healthcare bill before the 4th of july, and a tax bill by the end of the year. if they get it done, you think that further boosts this market. liz ann sonders: if you purely look at the corporate side where it's easy to do the math. if corporate rates go down. leaving aside the concern about liquidity. that would add 10% to s & p losses. maria: liz ann, good to see you. "wall street week" comes right back. stay with us. >> announcer: a mini -- five

arab nations cutting ties with qatar.

♪livin in this crazy world ♪so caught up in the confusion♪ ♪nothin' is makin' sense ♪for me and you ♪maybe we can find a way ♪there's got to be solutions ♪how to make a brighter day ♪what do we do?

♪we've got to give a little love♪ ♪have a little hope ♪make this world a little better♪ ♪try a little more ♪harder than before maria: the biggest political crisis hitting the middle east this week. five arab countries including saudi arabia and egypt formally announcing they will cut ties with their neighboring country qatar over the claims that qatar is supporting terrorism and terrorist groups. the move has investors on edge, fearing the risk could seriously damage the oil market and qatar's sovereign wealth fund. that fund is invested in a whole host of global companies right now. egyptian billionaire businessman and developer naguib sawiris

said this has to be done and he wants all arab businessmen like himself to divest from qatar. take your money out of the country. thank you for joining us. this is a huge story. tell us why you are advising your colleagues in business to take their money out of qatar right now. >> i'm not just advising them to take their money out of qatar. i'm advising them not to deal with qatar. every day what he wake up with a lunatic or after and person who goes with a car and kills innocent people. in my own country they stopped a bus with women and children and shot the women and children in the eyes of the men. and one country that declares openly they are supporting terror like hamas or other organizations, siding with iran

openly, that all intelligence services of the world have all material showing they are supporting the terrorists and extremist groups in the middle east, syria, iraq and everywhere, and nobody is doing anything because they are the richest country in the world and because of their oil discussion and the oil and gas. that's what happened last week is a wake-up call for qatar and it leaders. saudi arabia, egypt, bahrain. yemen. the em -- the emirates. if you play with fire it will eat you up. so as a businessman i want to do my contribution. we can day like that and watch them continue doing that lives going down in manchester and london and paris and nobody is doing a damm thing to -- damn

thing to stop this. maria: this is the richest country in the world exporting liquefied natural gas. and the u.s. has its main base in qatar. >> so does the muslim brotherhood. they went to qatar. they reside there. all the sheikhs that entice and sanction terrorism, and convince young people that they go and blow up some people that they go to heaven reside there. they are opening support who mass and openly side with iran. all the intelligence services have enough material that show money in cash that has been delivered to these people. why isn't anybody coming up with evidence because of exactly what you were saying.

because the richest and the oil reserves. but i as a person don't give a damn about that. maria: what do you want to see in order to reverse your position here? naguid sawiris: i want to see them going out and stop hosting terrorists in their countries. i want them to declare -- first they need to say the truth. they need to come straight and say we did that in the past for several reasons. but that they are going to stop doing that. they have blood on their hands. they have blood. why is qatar the on country in the world that no incident of terrorism happened there. why? maria: what happens to that sovereign wealth fund? is this going to impact more than just relations with its friend in the middle east? naguid sawiris: the wise

investors will have to divest. they are free to invest in countries like germany. some people don't give a da damn about what i'm saying. it's not like they are the only ones with money. maria: let me get you take on the british election where the conservatives lost the majority they had in parliament. your thoughts on implications coming out of britain this week. naguid sawiris: there was no need of this election. she said at the beginning she wasn't going to call for it. she called for it. it was the wrong move. on brexit instead of telling the people of u.k., breck it is a bad idea. i respect the vote, but the vote was a slim vote. this doesn't make it an absolute vote.

in my personal opinion exiting europe for britain was a disaster and will continue to be a disaster. i believe e brispeop when they voted for brexit they didn't flow wh they were voting for because they don't have the small print. what does this mean exiting europe? what is it going to cost them at the end? how are they going to deal with the consequences of this exit? i don't believe they knew all of that. i believe if someone he can explained everything to them most of them would not vote for that exit. may will continue ruling with a slim coalition. on the other hand nobody believe her or like the head of the labour party. everybody thinks he's an extremist. we are in a mess. maria: one of the issues has been terrorism. and you made a suggestion or an opportunity recently that you said, you wanted to buy an

island and put the refugees there. one of the issues is thing the s the refugees. are you still interested in doing that? naguid sawiris: i don't say something i don't do. the refusal of the greek government to allow me to put the refugees on islands that it was buying. i met the prime minister and was first encourage. then in the end he said our islands are not for sale. we'll not have that. but i think until now it's one of the best solutions because it's not far from their homeland. they would be secure and they would have built their houses and businesses and stayed on these islands until they can go home. all i needed from the greek government is the security and border admissions and security. that's all i needed.

i would have done the rest. maria: wn we come back i want to get your take where you are investing, where you see the opportunity. and i want to take you back to the u.s. and get your take on donald trump. >> announcer: one of the very first to throw his support behind donald trump. what does one of the world's what does one of the world's richest men think of donald

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delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. tthat's why at comcast,t to be connected 24/7. we're always working to make our services more reliable. with technologat can update itself. and advanced fiber network infrastructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. maria: we are back with egyptian billionaire developer, naguib sawiris the market here is up

15% since election day. a lot of people betting on his economic policies. how do you see it? naguid sawiris: i sympathize because i'm a businessman who also tried to get into politics. way learned is that politic and business are two different things. in business you run the company and you don't give a damn. you are the boss. when you move into politic and you believe you can do the same, do politic the way you do business. it doesn't work like that. in politics you practically have no authority, congress, senators have most of the authority. if you decide on something you need to make sure you have the backing of all these institutions and the backing of your party. with mr. trump coming in, i think it will take some time until he makes this experience.

but in honesty he comes with a good vibe because i believe need some shakeup. it was full of bureaucracy. things were going too long, there is also corruption. and it is like i have servants all the time, nothing was happening. even on the action side, no disrespect to mr. obama, i hold him responsible for all that is happening now and the flourishment of isis and terrorism. he said no boots on the ground. he said there was a red line, and when they used the chemicals they didn't react. president trump will be a different president. but he needs to work with all the institutions and understand he can't run politics like he used to run his business. frankly i like him. maria: you do equate what went on and the acceleration of isis to president trump.

you say his leadership allowed them to flourish. maybe that was why the middlele, particularly saudi arabia, rolled out the red carpet for president trump when he was there two weeks ago. do you think that was more a testament to donald trump or a testament they are happy for a change away from president obama cae everying u just ntioned? >> i thinkt's both. inhe past our excuse by not going after terrorist, they were in bora bora and afghanistan. now we know where they are. they are in raqqa in syria and mosul. and we are too chicken to go down and get it done it's a big mistake because they are coming to your doors, knock on your doors. now we know where they are and we don't do anything.

no boots on the ground, okay. so i think during the obama administration we believed the obama administration supported the muslim brotherhood and we believed they received an agent after the revolution to make sure the muslim brotherhood come to rule. so we were frustrated. we believe in the fact that the muslim brotherhood are a terrorist organization with all the people who are behind them. they come -- maria: you think president trump side with the muslim brotherhood before he sided with the egyptian leadership. and egypt is one of our key allies. naguid sawiris: even with the military forces that were not given a chance. the elections in egypt were not fair.

the muslim brotherhood were there for 1,800 years. when you supported them, they did not abide by the democratic rules that brought them to power. maria: would you invest in the united states right now? naguid sawiris: of course it's the best time to invest in the united states with aside like that who will open doors and encourage private sector entrepreneurs and reduce the taxes and stop the excessiveness of all the environment issues. there is a limit to where we go. we need to provide jobs. you can't provide these jobs and move on anything. you know. so i believe in that. i am a capitalist. maria: we are happy you joined me today. we appreciate your time. thank you for joining us.

thank you for joining us. we'll be watching the ♪you may say i'm a dreamer ♪but i'm not the only one ♪i hope some day you'll join us♪ ♪and the world will be as one ♪imagine no possessions

♪i wonder if you can ♪no need for greed or hunger ♪a brotherhood of man ♪imagine all the people ♪sharing all the world...you, ♪you may say i'm a dreamer ♪but i'm not the only one ♪i hope some day you'll join us♪ ♪and the world will live as one♪

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to learn more, visit thinkaboutthelink.org. maria: let's take a head at the market events coming up next week that could impact your money. mortgage flikss, housing starts, consumer sentiments are the indicators to watch in the week ahead. a handful of companies will be reporting earnings next week. on the political front. attorney general jeff sessions will be on capitol hill testifying on the justice department's budget. expectations are lawmakers will use this opportunity to follow up on the james comey testimony from last thursday. next week the u.s. open will take place in wisconsin. we'll be there from nil what you

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