conference, and that was good for everyone. i think it's overdone, it's fallen about 15% if its high of the year, and it looks like it's found support around 175. if that holds, looks like a good place to buy the dip. jack: all right. thanks, everyone. that's all for us. to read more, check out this week's edition at barron's.com and don't forget to follow us on x, the former twitter, and that's all for us. we'll see you next week on "barron's roundtable." ♪ finish >> from the fox studios in new york city, this is maria bartiromo's "wall street." maria: and happy weekend to all. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo.

thanks for joining us. an army of cyber warriors from iran and china are ramping up attacks against u.s. infrastructure, key infrastructure. the biden administration if is now warning state governors to beef up their security, writing in a letter, quote, disabling cyber attacks are striking water and waste water systems throughout the united states. these attacks have the potential to disrupt the critical lifeline of clean and safe drinking water as well as impose significant costs on the a affected communities. foreign hackers have already had some success is, an iranian-backed group breaching a water authority in pennsylvania back in november. and the china people's liberation army attacked two dozen major u.s. systems including a water utility in hawaii, a major west coast port and an oil and gas pipeline just last year. intelligence experts are warning this is just the beginning. >> this hacking is extensive, it's across china. >> they're trying to sow panic among americans and also 456r7er the u.s. military.

>> what china a's trying to do is do these cyberrer intrusion withs, lay in wait and at the right moment attack ports, attack water splierks attack energy supplies. in short, they're preparing for war. maria: joining me now is former cia senior officer and fox news contributor dan hoffman. dan, i know you wrote about this in the washington times. tell us more. >> yeah. listen, this is of great concern, and it's a big deal that the biden administration is ringing the alarm bells here. you know, first and foremost, we want our intelligence community and cyber command to detect those cyber threats way out, what we like to say at cia, left of boom, before any harm is caused. once the hack takes place, we're in incident response, and that's a bad day. i have no doubt that iran, north korea and russia and china are all a targeting our critical infrastructure right now. and that puts us, our private sector squarely in the crosshairs of our adversaries.

it's a dangerous place to be. and what we need is certainly more awareness among the private sector, and the private sector also needs a very sophisticated insider threat program. so much of this begins with somebody opening up a ransomware attachment, mall a ware. there's got to be -- malware. there's got to be the really great training. we're kind of late in the game if we're trying to bring awareness to imminent threats. the work should have been done months or even years ago. maria: there's also the threat of terrorism from these rogue nations crossing -- nations crossing into america through our wide open border. looked at this scene from el paso, texas, on thursday. a group of about 30 illegal migrants -- 300, bursting through razor wire, trampling texas national guard members some of which were, in fact, hurt. border officials tell fox all of the migrants have been apprehended and that they're going through the video to find and arrest those who assaulted the guardsmen. if this is not an invegas, tell

me what is. -- invasion. texas governor abbott issued this statement reading in part: the surge in el paso is a direct result of the unsustainable chaos president biden has a unleashed on our border. your thoughts. >> well, the numbers are staggering. our system is simply overwhelmed. and the concern that i would have, i think as a you note, director wray has testified that the we're at grave risk right now to terrorist attacks in our country all emanating from the war in gaza which is -- which has given the terrorists an opportunity to propagandize and spread disinformation and recruit followers and money to conduct terrorist attacks. i'm concerned about us not knowing who's crossing the border, that there may be terrors or sleeper agents in there, in the mix there. we need democrats and republicans to come together. look, we're split in this country 50-50. neither side's going to get all that they want, but border patrol needs more people, we need more money for technology, we need some more wall.

there's an awful lot left to do, and we've got a spring surge right now. i think that's the concern. this is typically the time of year when the numbers increase. maria: well, i mean, look, i think at one point there was one month that it was more than 300,000 in one month if coming into america. and you mentioned the spring. as the weather continues to get warmer, do these numbers go up? >> i mean, you would expect that they would go up. i think it's a combination of the weather, it's the fact that we don't have the capability at the point of attack to deal with these numbers. and, look, we've had bureaucratic inertia a on capitol hill, an inability for democrats, republicans, the biden administration to solve this national security challenge. we elect our leaders to solve problems, and the problems are only getting worse. it's not like fine wine with, getting better with age. this is getting worse day by day. maria: well, why do you think that the administration is not taking executive action to secure the border?

>> i think there's certainly some things they could do with executive alaska, but this is some limits as well. and sol of those executive actions are going to be challenged in the courts. we saw that with the trump administration. the stay in mexico policy -- mexico's not in favor of that right now. it really takes an approach from the entire government. it means diplomacy, working with our mexican counterparts. and i do believe it means more money from the congressional locating -- congress, allocating more money so we have more resources to deal with the problem. maria: all right. we will leave it there. dan, it's great to get your take on all of this. talk of rate cuts by the federal reserve sending stocks to new highs. the bear traps report larry mcup donald on where markets go from here. and brand new details in the biden impeachment inquiry. did the cia a block hunter biden's lawyer and so-called sugar brother from speaking to the house oversight committee? oversight committee chairman james comer is demanding answers, and he'll join me in a

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♪ maria: welcome back. take a look at where markets ended the week with the dow industrials touching 40,000 for the very first time this week after the federal reserve held interest rates steady, unchanged, for a fifth meeting in a row. also the fed said that three the rate cuts are on the table this year as the economy continues to grow and inflation continues to fall. joining me right now is bear traps report founder and the best selling author of "thousand listen when markets speak," larry mcdonald back with us. con greats on the new book with and thanks for joining us. >> thank you, maria. it's been a great week, and it's great to be with you. maria: your book is out, and i want to get to that in a moment. but first, give us your assessment of the fed. do you believe we actually will see three rate cuts this year? >> years ago when i worked at a major bank in the city of new york, i won't mention any name, but i was in meetings, and they

said the fed is never, ever political. and i really laughed. and if you look at what's happening and you look to 2000 and 2008, both republican and democratic presidents over the years always, always tend to overcook the goose into a big election. and this time you've got the fiscal side is, which is close to $2 trillion of accommodation can, and inflation is actually reviving for a whole bunch of reasons, bouncing higher, and the fed is staying on course for those three rate cuts. it's a dangerous cocktail, but it also opens up tremendous opportunities. maria: so tell me about the opportunities. in the book you write about the decline of the dollar, you write about the fact that you're expecting m&a in the energy business. or where are the opportunities right now, larry? >> well, it's really a cocktail of energy supply versus demand. so if you think of, say, 2010-2014, the path of investment in oil and gas and metals was spectacular.

and if you stayed on that path to today, we're essentially today in a $3 trillion hole because we've, for a lot of different reasons, we've cut back on investments in uranium, nuclear power, cut back on investments in gas, metals. all around the world there's a tremendous shortage of, say, copper. think about the power grid. the power grid in the united states is 50 years old in some spots, 30 years old in others, and we're supposed to put all these electric vehicles on an aged power grid. we're supposed of the data centers pumping out artificial intelligence. and you're talking about in terms of terra watt hours, 2022 just to keep it simple, 460 terra watt hours, and now you're talking about potentially 2,000 terra watt hours of energy demand from artificial intelligence by 2026, '27, '28. so you've got an explosion of potential demand, a suppression of supply, and it just sets up for tremendous potential energy crisis probably coming at us in,

like, 24-36 if months. maria: so energy crisis meaning oil prices rally up, you want to buy oil assets in that environment? >> yes. and that's e what the book's all about. it looks back, but it looks forward -- maria: yeah. >> we've been talking for a couple years about uranium, natural gas. you've got a lot of lng plants in europe. europe is trying to displace the russian demand for natural gas, so you're going to have a lot of demand coming for natural gas to support europe, to support a.i. in the united states. and that's where the opportunities are. i think, i think too many people today are long financial assets. so think of, like, the nasdaq 100. $21 trillion in the nasdaq 100 today. back in 2012, '11, '13, the energy space was the same size is. the energy sector was the same size as the nasdaq 100. today it's about 18 trillion larger. for the love of god, this is one of the greatest opportunities we've ever seen. we're talking about the greatest

migration of capital coming at us in the next 2-3 years. maria: so, larry, just to be clear about the moment we're in right now after we're seeing this you foror ya in stocks -- euphoria in stocks, if you want to buy energy assets because of that, do i want to sell somewhere else? do i want to sell some assets in a.i. and these high-tech names that are up in outsize ised returns? >> yo -- so, yes. you want to take down your exposure to the obvious trades. but the trade behind the scene like we've talking about in the booker those are the ones that are probably going to offer the most opportunities. maria: all right. we will take a look and read the book, "how to listen when markets speak." to congrats to you, larry, and thanks very much for joining me this weekend. >> thanks, maria. maria: see you soon is. larry mcdonald joining us. quick break with, and then a new whistleblower is alleging the cia a blocked hunter biden's lawyer, so-called sugar brother, from speaking into the house

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generation after generation. tool after tool. again and again. bringing you the most reliable network of authorized sales and service dealers. always moving forward. we lead. others follow. maria: welcome back. a new whistleblower has come forward with damning allegations against the c cia telling the house oversight and judiciary chairmen that the agency blocked doj investigators from interviewing hunter biden's sugar brother, that's the hollywood lawyer who has helped him, kevin morris, during the 5-year tax probe. morris has donated hundreds of thousands of dollars to democrats, and he even paid some of hunter's legal fees. of james comer and jim jordan now demanding answers from cia

directer william burns writing, quote: the information we recently received from the whistleblower seems to corroborate our concerns about doj's deviations from if standard process to provide hunter biden with preferential treatment. house oversight committee chairman james comer joins me right now in a fox business exclusive. mr. chairman, thanks very much for being here: can you tell us what you believe has gone on here? >> well, i believe this is another example of government obstruction in an effort to cover up biden wrongdoing, in an effort to protect the biden family. we've been seeing this for a decade. this is another example. kevin morris is a key figure in all of hunter biden's crimes because one of the most basic with crimes that hunter biden's committed is failure to pay taxes. he has evaded taxes. he has defrauded the irs. and we know, because of our investigation, that kevin morris is paying hunter biden's tax bills, his tax penalties, his tax fees, and we know that he's

accumulated almost $7 million in debt to kevin morris. how could the federal government not interview kevin morris, because this is a huge conflict of interest for joe biden. i think it's a campaign finance violation, what kevin morris is doing. if i think it's an ethics nightmare for joe biden. but yet the the president of justice wasn't allowed, according to or this whistleblower, not to interview kevin morris? i mean, that's a joke. another example of the deep state protecting the bidens. maria: well, why would the cia be interfering? i mean, why would the cia interfere in an investigation, and also today met in 2019. give us a little background on kevin morris. they met in 2019 and just a few weeks later he starts paying millions of dollars on hunter's behalf? >> they met at a political fundraiser for joe biden. and one of the earliest e-mails that we've intercepted from ken

morris -- kevin morris to one of the biden associateses was that we need to pay this bill or we're going to have problems. this could be problems for joe biden's campaign. it's clear this is a campaign finance violation. that's how they met. they met at a campaign event. ken morris is a democrat donor. -- kevin morris. this democrat donor is paying hunter's legal bills, he's paying hunter biden's living expenses, $40,000 a month, luxurious cob doe in southern california -- condo in southern california. he's paying his e child support, he's paying the irs. the fact that the department of justice isn't allowed to even communicate with this kevin morris, it's meant boggling. -- mind-boggling. but i'm not surprised, maria, because this is what we've seen throughout the last 12 months of our investigation. time after time government agencies, whether it be the securities and ec e change commission, the department of justice, the fbi, the irs, whomever, they close in on the bidens and then someone from the

deep state a makes a phone call and says, stand down. maria: wow. >> that's what this whistleblower's alleging. maria: i mean, wouldn't this all go away if joe biden came out and explained some of this sufficient? you're calling on president biden to testify in his e own impeachment inquiry after this week's hearing. have you heard back? are you -- did you make that a call yet? >> no. we've heard from 12 of his lawyers that our tax dollars -- 12 of his employees in his war room that our tax dollars are are paying to attack me and discredit my and jim jordan's investigation that he's not coming, but we haven't heard official word. look, if joe biden has nothing to hide, then he should come forward and,s plain. what we've established in this investigation, maria, is that the bidens were influence peddling. we've established they've taken in tens of millions of dollars from our enemies around the world. we've established they did not have one single legitimate business that was getting these things and they've never provided even one hour of

service to receive the tens of millions of dollars from our enemies around the world. now, where there's discrepancy is whether or not joe biden was involved or not. we've had three former biden associates, tony bobulinski, jason -- and kevin archer -- devon archer all testify that joe biden was a central figure in these screams. we gave hunter -- schemes. we're giving joe biden an opportunity, and and we'll see what happens. maria: well, it's true that the testimony of tony bobulinski this week was quite compelling. he said that he believed the biden family or hunter and have taken some $9 million just from communist china. >> yeah. that's exactly right. and what tony bobulinski also testified was that, you know, when he got hooked up with the bidens, it was because tony's a credible business guy. he's accomplished. tony wanted to do business with the bidens because he thought they were going to do actual business. but what tony figured out was

that the bidens weren't interested in doing business, they were interested in taking bribes, in taking kickbacks, in getting paid by the chinese government. they didn't care about an energy business or helping china do anything. they just wanted to get paid by china. that's what a tony bobulinski testified. i believeny bobulinski. i believe the evidence points to fact that tony was telling the truth. but if joe or hunter biden disagrees, then they can have the opportunity to come forward. hunter said he wants a -- he wanted a public hearing, we provided him a platform for a public hearing, but he didn't show up. now joe biden he's got an opportunity. if he doesn't, this is not going to end well for the biden family, maria. i can assure you of that. maria: that's a where i want to ask you, where is this going? biden is running for president again. you said to me recently that you're getting ready to make some criminal referrals. can you look out for the next six or eight months?

where is this investigation going? >> well, i think that we've, again, established that they were influence peddling, we've established that joe biden has lied numerous times about his knowledge of, involvement with and participation in his family's shady business schemes, and now it's time to hold him accountable. what does accountability hook like? does it look like impeaching joe bidens in house and the senate tabling it, or does it look like criminal referrals to the county of justice? if the merrick garland department of justice won't accept these criminal deferral -- referrals, then maybe a donald trump justice department will. we're going to look at what avenue provides the most accountability. i want to hold the bidens accountable for the many crimes they have committed, and i can assure you on your show right now, the bidens have committed many crimes, maria. i want to hold them accountable, but i also want to hold the deep state actors who were involved in the cover-up of the bidens accountable. the bidens should have been named a decade ago for tax evasion, for being up registered

foreign agents -- unregistered foreign agents. the list goes on. someone in the deep state, government bureaucracy apparatus would always step in and say, stand down. that day's going to end very soon with the house oversight committee. maria: wow, this is just an incredible story. mr. chairman, thank you very much. we will follow your work. >> thank you, maria. maria: all right. oversight committee chairman james comer. i've got one important thing you need to know about ahead of next [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com.

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year as weather conditions, damaged crops in west africa, a region that makes more than 70% of the world's supply. your easter basket had been a little more exif pensive as well we'll be following all of this on "morns with maria," -- mornings with maria weekdays on fox business. and i will see you on sunday morning over on the fox news channel, 10 a.m. eastern live for "sunday morning futures," exclusive interviews with governor kristi noem, lieutenant governor of texas dan patrick andists michael shellenberger and matt taibbi joining me live, "sunday morning futures." that'll do it for us here on fox business. have a great rest of your weekend, and ill you again next time. ♪ ♪ ♪ ♪