been doctrine in washington for decades, gold would do well under the administration. >> you could catch a bit with falling interest rates. before we go and update on the wall street journal colleague evan koester which he was convicted of a fictitious charge of spying on a sham russian court, he was journalist doing his job but he was sentenced to 16 years in a maximum security colony is sickening and unjust verdict, the dow jones continues to work for his release and that is all for us. to read more checkit this edition of barron's.com, we will see you next week on "barron's roundtable". ♪ ♪ >> from the fox studio in new york city this is "maria bartiromo wall street". maria: happy weekend to all, welcome to the program that analyzes the week that was in

position you for the week ahead i am marita burrell doctor bartiromo donald trump reset agenda accepted the nomination for president outlining his plans to make the economy great again on the final night of the republican national convention. maria: under the current administration we are indeed a nation in decline, we have an inflation crisis that is making life unaffordable, ravaging the income of working at low-income families and crushing, simply crushing our people. i will in the devastating inflation crisis immediately and bring down interest rates and lower the cost of energy. at the center of our plan for economic relief are massive tax cuts for workers that include something else that's turned out to be very popular actually it is called no tax on tips, no tax on tips, they are destroying your social security and

medicare and under my plan incomes will skyrocket, inflation will banish jobs will come roaring back in the middle class will prosper like never ever before and were going to do it very rapidly. maria: fox news poll shows 72% of voters think the current condition of the economy is po poor, 76% are cutting back on spending to afford essentials in necessities, joining me t-square group founder and ceo goss scott benson, thank you for being here you're also an economic advisor to former president trump and the key fundraiser for his campaign what did you make of the speech on thursday night and if he is reelected what would you advise him to do on day one to help this economy. >> let me just tell you as we go into the weekend and we reflect of an incredible week the people, the energy here in

milwaukee the people in milwaukee were incredible and congratulations to the organizers and president trump capped off the week with a great speech outlining four years of trump 2.0 would be like and i don't have to advise him what to do, he has already done it he did it from 2016 to 2020 and let's not forget that january 2020 the economy we had three incredible years in the economy was in fantastic shape in covid hit, i think here we kept hearing the things again get the trump tax cut, extended or made permanent, u.s. energy dominance will get energy prices down and unleash the 50 trillion of natural resources that we have, get the budget under control, stabilize the border and i like president trump, we

are the party of common sense. maria: all good points, we hear more big names in technology and venture capital throwing their support in their money behind the trump campaign many cheering his selection jd vance for president, vice president rather but then you have others on wall street in silicon valley who were concerned about a potential push by vance for more tech regulation in this prolabor stance, his praise for bidens ftc chair lina khan, he spoke out against corporate tax breaks and he may want to do with the interest loophole for private equity firms, your reaction. >> i know senator vance quite well and i am hoping someone will talk about his life story, this is a great american success story of the 21st century this is what america is all about and for jd to come out of the

beginnings and become a marine, ohio state at two years, law school and i spent a lot of time with jd and he is a pragmatist, his view, they are still information that a lot of policies have failed the american people and i agree and i think president trump, senator soon to be vice president vance are willing to examine everything that has gone wrong with the economy and offer solutions. i think nothing is final. i think the insanity as einstein said to keep doing the same thing again and again, and expecting different outcome. i would encourage people on wall street to keep pick up a pencil and look for solutions because i think trump 2.0 with jd vance and it led by donald trump is

going to be about solution for the american people and the economy. maria: i know president trump has used tariffs in some cases to offset national security issues, president trump does not used tariffs just on economic issues he used tariffs against coming to china because of the bad behavior of communist china international security offset to what we were seeing their i think it's important to recognize how trump is used tariffs, you have all of this pushback like bob rubin who writes an op-ed in the times the other day calling trump a danger to the economy even though we seem trump's economy in the first term. >> the american people, the good thing with this unusual election give a clear choice between two candidates president trump has proven the economy the american

people to great under joe biden the top 10% have done great the bottom 50% american earners are getting crushed, you could see in the stock market yesterday and today and with the idea the democrats who professed to love democracy are about to pull up hooch and pull president biden from the ticket let's remember i live in south carolina, my congressman james clyburn rigged the primaries so joe biden cannot be contested they move the south carolina primary to third to first because they are afraid things can go hey haywire and speak in the iowa caucuses and get president biden out because it looks like he may not win. maria: a developing story that we are covering, the former

president is attending a bitcoin conference in nashville next week he is reportedly planning to announce making bitcoin a strategic reserve asset. a major shift in the government's approach to crypto the treasury would buy in whole billions of bitcoin like it does for gold in foreign currency, i want to get your take on. >> i have been excited about the president's embrace of crypto and i think it fits very well with the republican party, crypto is about freedom in the crypto economy is here to stay, the democrats are running from it because they are trying to wash off the stench of sam bankman-fried and his family donations to the democratic party, they're willing to take on the whole industry because the bad behavior on their part of one actor.

i think everything is on the table with bitcoin and to be one of the most exciting things about bitcoin is for a generation of investors who posted great financial crisis have been looking for investment opportunities and soured on markets crypto is bringing in young people and the people who have not participated in markets and having a market culture in the u.s. and people believe in the market that works for them is the centerpiece of capital capitalism. maria: all great points, good to see you thank you for joining us this weekend. maria: we will see you soon. wild swings on wall street as a big investment rotation and major fed and election headlines move markets to new high

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maria: here's a look at where markets and did a volatile week, dow industrials hitting record highs earlier in the week boosted by investor optimism for a trump election when expectation of new policies and the federal reserve rate cut in september, then stocks dropped better than 500 points on thursday as massive selling and tech stocks in chip companies with led to the worst in the nasdaq and more than two years on wednesday joining the bullseye in in doing judy portfolio manager adam johnson, great to see you, thank you for being here. i want to get your take on what happened in the week with the republican national convention ramping up and kicking off stocks were hitting all-time highs. what you make of how investors are viewing a potential trump return to the white house. >> investors and wall street at

large loves a.i. trump white house, that's why markets have been up, i know they have been volatile but think about what trump means for the markets is lower taxes it is fewer regulation and unleashing american ingenuity in near and dear to my heart somebody runs an american ingenuity fund, i'm fully invested. i think trump will win in the market likes certainty and as he becomes a more certain, not candidate but a winner and maybe i'm getting ahead of myself but that's what the market is trying to do the market is handicapping a trump victory and that's what it's been up, i fully invested, i'm good with it and i think the market is good with mr. trump. maria: let me ask you about small caps, we see this broadening out of the market and thomas lee from fund strat i'm reading his research in these calling for an expecting he says he will expect a summer of small caps. he thinks this group has legs

and he's expecting a huge move in small caps through the end of the summer and is looking at how it compares to the last big rally in small-cap stocks what you make of the move in small caps in the last two weeks. >> i love what he has to say and i love small caps so i put my money where my mouth is on this. for two and a half years, small caps have been sideways and is because of high interest rates, small caps are far more sensitive to interest-rate then large caps because younger companies tend to need capital and when rates are higher, the cost of capital is higher it's a little more subtle but important to understand the future earnings that the smaller companies are not making have to be discounted back to the president at a higher rate when rates are high, the flipside when rates go down you can afford to pay more for the small caps, the future earnings that are out there couple of years down the road, that is why small caps are rallying the expectation that rates are coming down number one and

number two fewer regulation courtesy of a trump white house. i am long, small caps i am still long on the a.i. companies that you would i like to talk about week after week. of course i'm long, magnificent seven mega cap tech. i think that is core ingenuity and you have to be long on those names and that's were more certain growth is but what is exciting to see the small caps finally starting to participate, the best five day run in 50 years until the selloff that happened in the middle of last week. that is very positive. maria: let me get your take on where small caps you want to put money. i was looking at the s&p 500 in the first half of the year, you mentioned nvidia is up 150% just in the first six months of the year, supermicro up 188% in the first six months of the year. are we going to have a similar

second half you want to put new money to work in the stocks now. >> i been put into money, adam johnson per mobile but think about the backdrop we have the three ease of earnings, employment and economy, earnings we will see by the time the second quarter reporting season is done we will see ten, 1112% growth that is faster than the previous two quarters seven and 8% and the reason we have earnings people are employed in spending money we have the most number of people transiting through airports this sunday after july 4, people have money and i know things cost more and it's uncomfortable but thank goodness were employed so were able to spend money and as we spend that is good for earnings because two thirds of the economy is related to consumer spending and then we have the economy, gdb growing around two,

maybe 2.5%, against a backdrop of inflation finally starting to come down toward three, maybe the middle choose which is why we can talk about rate cuts. i think that is a powerful backdrop for stocks whether you're talking small caps that are finally going to get break on the interest-rate front or whether you talking about the continued expansion of a.i. that changes everything. i don't mean to wax poetic about liking everything but i think there's a lot more to like them not to like. maria: you would put new money to work in this market, the broader market right now. >> i been putting money to work and continue to put new money to work. i will add one caveat because i think you have to be balanced. if you look historically at the past five years, what you found, july and august tend to be good for stocks and that's what we see now volatility aside and in september and october you get a 5% correction in the race to year end you tend to on average

get a ten or 11 percentage point bump from november to december and this year you might get a trump white house and that will add to that the kids we talk about tax cuts and fewer regulations et cetera. it's not a perfect backdrop, there's a lot more to like them not to like and that's when fully invested. maria: great to have you, thank you so much for joining us this weekend, a quick break, blasting bidens green agenda from a petroleum engineer that took to the rnc stage pushing for american energy independence, that is next. >> with president trump back in charge will not only be energy independent, we will be energy dominant. [cheering] so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon.

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>> president trump understands that abundant affordable energy is vital to our economy and to our national security, meanwhile president biden is pushing the green new scam, his campaign against responsible development of oil and gas is crushing every day americans like you and me. maria: pennsylvania petroleum engineer sarah phillips touting president trump's pro energy agenda at the republican national convention and slamming president biden is climate change regulation and policies hurting everyday americans, energy prices skyrocketed across the board since president biden took office with overall energy cost up better than 35%, the price for a gallon of gasoline up almost 50% since bidens

inauguration, syru sarah phillis during this right now, thank you for being here you had a passionate speech and former president trump said in his speech that the high cost of everything right now has been caused by higher energy prices because that is the underlying expense that goes in everything. >> west virginia, ohio and pennsylvania i have to talk to pennsylvania directly if they were their own country they would be the third most natural gas producing country in the world we have enough power and energy to power the planet and just the three states for 600 years. the four pillars to our modern world are plastic, fertilizer, cement, steel, everything that you see the camera that i'm talking to you in. my makeup, this building, everything your glasses, cell phone are derivatives of oil and gas and there is such a

desperate need for oil and gas, not only crushing americans like you and me the grocery bill skyrocketing in everything that you just said there is a massive global demand for oil and gas. maria: they want to do away with fossil fuels, you know that you think this administration does not understand the energy is underlining everything? >> everything that i just said are derivatives of oil and gas and renewables are great there supplemental energy but they cannot replace oil and gas it is not possible. maria: what you want to see from a potential return to president trump in the white house in the way of energy policy. >> he kept saying drill baby drill and we have so much supply in my little region and that is why we need the support of our politicians. maria: great to have you we appreciate your time.

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can help you prepare for every chapter. we got this. that's the value of ownership. maria: one thing you need to know ahead of next week the high-stakes meeting in washington israeli prime minister benjamin netanyahu issuing a joint session on capitol hill on wednesday where he will face a congress bitterly divided in support for him in the war on gaza, in may leaders invited benjamin netanyahu to share defended market under democracy and establishing peace in the region now more than 200 bipartisan house and senate congressional staffers are urging lawmakers to protest or boycott the event a dozen progressive democrats including bernie sanders and pramila jayapal will say they will not be there, benjamin netanyahu is set expected to set down with joe biden if recovery from covid. the first of the war in israel

began, we will be following with "mornings with maria", 6 - 9:00 a.m. eastern on fox business. i hope you will join us weekdays on fox business. we will see you on fox news channel on sunday morning for "sunday morning futures", 10:00 a.m. eastern live i have an exclusive interview with eric trump, the president former president son, glenn youngkin, governor of virginia, ronny jackson representative jackson and newt gingrich talking about the state of affairs, join us live sunday on fox news channel, that will do it for us on fox business. thank you for joining me i hope you have a great rest of your weekend. i will see you next time. ♪ >> "barron's roundtable" sponsored by global x etf's.