>> from the fox studio in new york city, this is "maria bartiromo wall street". >> happy weekend to all, welcome to the program that analyzes the week that was in helps position you for the week ahead. i am maria bartiromo. >> joe biden you participated in

benefited from these schemes, this is a national security threat at the highest level of government and americans demand accountability for the biden corruption. >> give a politician that does certain things, those actions benefit his family financially and then there is an effort to sweep it all under the rug. >> we have learned that president biden was not just aware of his sons business dealing, he was not just involved but he appeared to have directly benefited from them. maria: republican heads of the house oversight judiciary ways and means committee speaking out earlier this week before holding a closed-door meeting with the house republicans friday to push for a vote on a formal impeachment inquiry into president biden. sources telling fox it would give more legitimacy in the courts enforce the white house to comply with certain house

request for documents and subpoenas. oversight democrats are pushing back they issued a memo against it, here is house leader hakeem jeffries. >> these unserious individuals during very serious times and it is hurting the american people. ithere is not a scintilla of evidence a republican produced to show that president joe biden has engaged in wrongdoing, there is no evidence that exist to implicate president joe biden and anything nefarious. president biden is a good man. >> this despite the oversight committee uncovering a 2018 e-mail from a bank money laundering investigator, he raised concerns about unusual and erratic activity relating to more than a dozen wire transfers to accounts belonging to hunter biden saying that the payments did not appear to relate to any

services rendered. we are hoping to get more insight from james biden when he testifies to the committee on wednesday, first let's go through it with the house oversight and freedom caucus chairman scott. >> it's great to be with you and as the bank recognized this $40000 that we have traced went from china through the various biden show organizations directly to joe biden. went from china to joe biden, that is irrefutable at this point. hakeem jeffries considers no evidence, it was clear to the bank and the american people that the evidence is there, they can refuse to accept it and acknowledge it all that they want but it is obvious in the impeachment the formal impeachment inquiry is coming because as we speak the white house and the biden family themselves are refusing to give up the documents needed to complete this investigation including thousands and tens of thousands of e-mails between the

biden family, president biden himself and the business dealings of his son. maria: i understand that, i have been watching and reporting on all of the evidence that you have come out with from the 176 suspicious activity reports from the major banks to the witness testimony to the e-mails, to this e-mail from the money laundering expert, it is incredible, it says in the e-mail, what is to say this doesn't morph into a he said she said and you get no account ability whatsoever. >> the democrats are obviously, america needs to be prepared for this they are going to resistance at all accounts president biden is going to be on the ticket in 2024 and they're going to continue to deny which is what they always do the reality, republicans are going to have to be faced with that and deal with that methodically and professionally

and present the evidence over time and time again so they make people see it and sensitive to it in the media can no longer refute it this'll be continual and gradual study upbeat and up-tempo in the drumbeat of evidence in regard to joe biden's influence peddling and selling of america for personal gain for his family is illegal and will be dealt with. maria: i understand that they don't even want to answer your subpoenas. do you think you will get hunter biden to go under oath in a closed-door session, he already said no i'll do open forum because he knows because open forum is so much easier and that it close recession and each lawmaker gets five minutes and the moment is past, he is not planning on doing a closed-door meeting, he wants open forum.

>> hunter biden was not planning on the prosecutor or the judge looking at the plea agreement entered agreement that he faced that affirmative justice the sweetheart deal and is likely to be accountable for his actions in the past regarding that case and i think what we are going to see at some point hunter biden is good to be under oath in a closed-door action like every single other witness. hunter biden because of his last name is no more important or special than every other american. by the way as you know the department of justice has been treating and mistreating conservatives differently under the law than everybody else, were not going to do that were get a treat hunter biden like every other american he will come in and be deposed he will sit for the interview and answer the questions, that is what's going to happen. maria: let me move on and get

your take, the house passed a resolution forcing the biden the administration to permanently freeze $6 billion in iranian money that actually opened up to them as a part of a prisoner swap earlier this year, you have 90 democrats to join you on this but the lead democrat on the house foreign affairs committee says reneging on this deal with iran will hurt u.s. cut ability around the world, this is unbelievable that we are here with the head democrat talking about freezing money to the number one state sponsor of terrorism. iran is going to hurt u.s. cut ability. >> with all due respect to the ranking member mr. biggs was served with for a long time, maybe he has not had family members killed in service to the country by iran or maybe he has not had friends or acquaintances or colleagues that had that happened to him or be dismembered by the actions of iran, i have a minimart under

members serving in congress and many americans have, they understand that her credibility is more at stake if we give iran $6 billion to be used against their jewish allies in american service members let alone american civilians as iranian terrorist likely have poured across the open southern border. obviously gregory meeks is playing partisan politics here as opposed to safeguarding the american people and our allies, unacceptable. maria: it is disgusting. i think the people are sick and tired of it. >> we need to be for america, stop the theater and before america you thank you very much. we will be watching your work, scott. joining us. j.p. morgan jamie dobbin out with more dire warnings about the economy as we saw the best month in the stock market and more than a year. does the rally continue going into year end. (sfx: stone wheel crafting) ♪

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maria: welcome back take a look at where markets ended the week and a great month of november, take a look at stocks for the month the dow closing at the highest level since january of last year. the s&p 500 and the nasdaq see in their best month of october since last year does that rally continue into december in the new year, joined to be the founder of the tory fund dan niles is with us, during november had the best month in two years, always a pleasure thank you for joining us this beacon. >> my pleasure as always. >> i know that you have some questions about the year ahead certainly as it relates to the macro story and the stock market and the huge outside move in november and all this year, do you think the rally extends into the new year. >> i think it extends into the new year but it is on a time clock and i called it goldilocks meets the three bears, right now

everybody is assuming a soft landing and assuming the fed isn't going to cut in the first quarter next year and i don't think that's going to happen and i think inflation will stay a little bit higher than the fed wants for liar. there is not good to be any rate cuts anytime soon. i think the delay of the fed raising rates will slow the economy down next year as well. i think yes do we get a rally through year end like we normally do that is normal seasonality absolutely but i think after that you could have some real turbulence in q1. >> you are not alone in that thinking, goldie goldilocks meets the three bears one of those is the consumer that you say is tapped out we saw j.p. morgan jamie dimon worn as a similar issue we could see a looming recession, a lot of things out there are dangerous and inflationary the ceo said. be prepared interest mates may

go up but that may lead to recession. he's been talking about the economic hurricane for a long time and so far we have not seen it. are you surprised that we have not seen a bigger impact from these 11 rate hikes from the federal reserve by now. >> actually i am not i had more time to think about it earlier in the year i was but if you think about what happened we had two and a half trillion excess savings for all the stimulus checks that went out now it's getting depleted and that's nea. in addition you 25 million people not having to pay back student loans for over three years, that restarted in octob october, don't forget monetary policy acts with a lag so it takes time from rate hikes for that to work its way through you put all of those things together and that's why it's taken a

while the slowdown to occur, don't forget unemployment is below 4%, as long as there is a lot more job openings than people unemployed that is going to delay any slowdowns, that's why it's been delayed so long but make no mistake were going to get one i think it'll be shallow but is not something people are prepared for with valuations where they are. maria: especially since we see the consensus, the federal reserve is going to cut interest rates, i wonder how you see the fed cutting rates versus europe, i'm being told the eurozone is in worse shape than the united states and the ecb is going to cut rates before the fed cuts rates. >> that is completely true because europe has a lot more issues, don't forget were insulated from it here but there is a land war going on close to where the europeans in russia and the ukraine and the economic picture is a much worse shape than ours is, i think you will see a lot more estimate cuts in

europe as well as the slowdown that you're rightly talking about. i think the ecb probably ends up cutting, don't forget slowdowns in europe will affect us economically, the world is interconnected. let's talk about how to allocate capital and saddleback and i know you have a barbell strategy into attack nobody get your take on that in the magnificent seven, the technology stocks that have led this market and really where the moves are in good valuations like small caps and biotech's you think the trading at good levels, how do you want to allocate capital for 2024. >> number one you want to make sure you have a lot of good shorts on and so we do. we had her shorts less than 1% of assets on october 26

expecting this rally are short-term back up to 50% of our assets. and in terms of the lawns to the magnificent seven amazon in the profit margin leverage of all of them in operating profit by 40% obviously, the fourth-quarter is a big quarter for them with the holidays and the best combination of growth of 15% revenue growth and valuation added 23 pe, the s&p is about 4% for comparison. the other side is unloved names of people hate there is a turnaround of the fundamentals in the semi conductor with inventory correction in the biotech sector and nibbling at the solar sector and getting close to the bottom and that's our barbell in the magnificent seven and looking at unloved in

the small-cap area. >> i love you and your strategy keeps on working really well, good to see you, thank you so much. , dan niles, fears over their own safety leading macy's workers to go on strike during the busiest holiday shopping weekend of the year. my next guest has worked at macy's for 21 years, now she's speaki liberty mutual customized my car insurance and i saved hundreds. with the money i saved, i started a dog walking business. oh. [dog barks] no it's just a bunny! only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ the day you get your clearchoice dental implants

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something up and walk out they do this multiple times a week. maria: that is a longtime employee of macy's, she was suspended without pay for three weeks after calling the police on a repeat shoplifter, more than 400 macy's employees at three washington state stores held the strike with their union over black friday weekend, they are demanding more from better pay and a safer work environment, according to forbes washington is the worst state in the country and the number of retail theft by value, $347 is lost for every resident there. macy's telling fox our top priority to ensure safety of our colleagues and customers in store, our stores remain open to survive value customers as we work through contract negotiations with the union. joy to be another macy's employee of 21 years and a union member. thank you very much for joining us this weekend. what can you tell us about what is going on with all of the stuffed. >> thank you for having me.

as we know retail theft is nationwide issue it is not just us dealing with the. but for me and my fellow coworkers, what is more concerning for as concerning his corporations like macy's instead of taking action like paying for increased security and securing efficient staff that were not stretched thin and more vulnerable for security threats training workers ian clear policy that will help workers when they are faced with the security threat. maria: what happens when you pick up the phone and call the police when you see theft happening, are you afraid for your life, do feel vulnerable when you see thieves techie undertaking stuff out of cabinets and running through the store? >> in any situation that is a scary thing but also if we feel the need to call 911 are we

going to be retaliated, are we going to lose her job that is another question that we faced with when dealing with the security threat. maria: i don't understand what is macy's management say to you when you say it's unfair to get suspended because i called the police on theft, how are they justifying that? >> there are some things i cannot disclose but everybody has seen what is happened to the colleague and what happened when she called management and called apn mall security and then had to call 911. what this is instilling fear in her colleagues, not just if it's theft. if it's any kind of security issue. maria: that is incredible what about customers are they noticing this as well, do they feel vulnerable?

>> there is an instance at whatever locations there was a customer who fainted and employees were afraid to call 911 because of the fear retaliation, am i going to lose my job, there is a hesitation, this is affecting our customers, this should never be a question of all my god is it okay to call 911. maria: you think there's been a pattern of retaliation against employees who react to the surgeon theft? a pattern for macy's management? >> i think the one big case where there was a huge repercussion and retaliation has been enough to scare other employees into calling 911, being afraid to call 911 because we have seen what happened.

>> that action. >> unbelievable, thank you very much for sharing the story, we appreciate, we will keep watching all of that ahead of macy's returning to the bargaining table on december 18, thank you so much, i have one important thing get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management.

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city mayor eric adams cutting city funding for libraries this month among other cuts, they can now afford to be open six days a week. we will be following all of this on "mornings with maria" 6 - 9:00 a.m. eastern on fox business, weekdays, i will see you on the fox news channel on sunday, sunday morning 10:00 a.m. eastern live for "sunday morning futures", exclusive interviews with house oversight committee chairman james comer, texas governor greg abbott in 2024 arizona senate candidate carried like. join us live sunday on fox news. that'll do it for fox business. thank you so much for joining me, have a great r weekend. i will see you again next time. ♪ >> "barron's roundtable" sponsored by global x etf's. co