a significant shortage of cans and it looks like a good chance to pick up a solid company to reduce price. jack: it can shortage, thank you for grabbing that, carlton and jack great ideas. check out this edition of barron's.com don't forget to follow us on twitter, that is all for us we will see you next week on "barron's roundtable". ♪ ♪ ♪. maria: from the fox studio in new york city this is "maria bartiromo wall street". maria: happy weekend everyone took him to the program that analyzes the week that was in position you for the week ahead i am maria bartiromo another volatile week for stocks, i will ask orlando where he's investing now coming up. investigation blocked china rejecting the world health organization plan for a second study for the origin of covid-19 senator marsha blackburn sounds

off and caving into boudin critics claiming president biden deal to complete the nord stream to pipeline here why mike pompeo warns our national security is still at risk. let's take a look back at the newsmakers on "mornings with maria" in this edition of the week's talkers ♪ ♪. maria: what can we expect next in the space race, what is your reaction to jeff bezos. >> i'm not sure what's next i would guess he's going to try to continue to do woody's doing, make sure he does it safely and try to expand and figure out how to get his vehicle to low earth orbit. maria: way and on what you heard of gain-of-function research, was it taken place in the wuhan lab of virology. >> of course dr. fauci funded gain-of-function research, he can deny all the wants and his

staff which is clearly gain-of-function research as it enough function research but it was. maria: there tried to take anybody associated with trump down, you said prosecutors are weapon rising the law for political purposes. >> watching what the prosecutors are doing and as it unfolds it's very disconcerting as americans and every american should be worried about how prosecutors can weaponize a law. maria: take a look at where markets ended the wild week that was and began with the dow industrials worst drop since october on monday, markets were higher, investors weighing the thread of the delta variant of a slew of strong corporate earnings results. joining me too look ahead chief equity market strategist phil orlando, it's great to see you, thank you for joining us this weekend, first the week that was real volatile and a lot of expectation that the volatility will only pick up as we continue

into the summer and end of year because growth is expected to slow down, where are you on the macro story. >> you are right we had a 4% correction in the s&p 500 and the other over the couple days but we bounced off the technical support level, corporate earnings have been excellent and we seen a nice rally. i think the first story we have to look at is the earnings picture, where a quarter of the way through the earnings season, consensus about earnings would be up about 65% give or take, earnings have doubled on a year-over-year basis and i think the splits are really the story, technology stocks have been up a 30% year-over-year, but it's a economically sensitive stocks, energy, financials, industrial, consumer discretionary,

materials, these stocks are hosting gains up 100%, 200%, 300% and as the economy comes to life it's a economically sensitive companies that are driving the bus. maria: i think this is a great point, the value stocks, some of the economically sensitive, some of those names i went through correction but bounced off the lows to come back. let's look ahead to the week ahead, there's a lot of important things happening next week you have a whole slew of technology earnings coming out, what are you expecting from growth from the quarterly numbers from these companies and the federal reserve having the july meeting, will the conversation take flight next week and perhaps cause a big selloff? >> i will start with the fed in the taper, the federal reserve has been very slowly doling out breadcrumbs to prepare the investors for the fact that inflation is not as transitory

as they have been telling us. we have been in the sticky more sustainable camp and i think that's always playing out. wholesale inflation is running 5.5% year on year, the cpi running for now% year on year, the end of july we will see the core pce inflation which is the feds preferred measure inflation year on year through june, we think that number will be 4%, that is double the fed's target of 2%, that will come right as the federal reserve is having its f1c meeting. i think what we will see if the fed, they will entertain formal presentation from staff as to what their tapering options are, very important staff which will lead into the jackson hole speech that powell is going to deliver at the end of august which will set us up as we get into the post labor day.

in the fed to adjust its policy, we will see a faster taper and increase in rates that they prefer. up until now and is largely because they are coming to the realization that inflation is running hotter and more sustainable than they thought up until now. maria: what is your portfolio look like in an era of peak growth now slowing down by year-end and the federal reserve class line communicating a process to take away some stimulus? >> great point i think ultimately stocks are going to reflect earnings and as were looking at the earnings picture right now technology stocks are still doing fine roughly 30% earnings gains year on year but the outside gains are going to be the economically sensitive companies. a year ago when the death of the

recession of the pandemic it was the technology stocks and growth stocks that were doing fine and their valuations in our view got ahead of themselves as we got into august the year ago, we took that sector down to neutral. the economically sensitive categories which have been left for dead, those companies are producing these caricature type numbers up 200%, 300%, i don't know the market has fully discounted and priced in how good the earnings are that's where were overweight. maria: it's good to see you thank you for joining me china says no to a new plan to investigate the origins of covid-19 what does that mean to finding out what happened

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official rejecting a new plan for the world health organization to investigate the origins of covid-19 in wuhan the pushback coming as the w.h.o. with the possibility of a wuhan lab leak in the covid pro, china is blocking this investigation is a responsible and dangerous joining me tennessee senator marsha blackburn, it's always wonderful to see you, thank you for being here, you have been tough on china what do you make of the communist government saying we don't want this happening a second time, a second investigation into the origins of covid. >> maria basically they are saying were guilty, we know were guilty and we know if you come in here we will find some things and it easier for us if you don't come in and get your findings and then we have to go apologize or try to make amends or people have the right to

blame us. i think they know what they have done. >> 4 million people are dead across the world as a result of this virus, what do you think went on were they creating biological weapons there is a lot of speculation that china one, he created a bio weapon and it leaked out of the lab, was it intentional? >> those are answers that we need to get so this never happens again, what we do know is this we know it's a level two lab at the wuhan institute of raleigh g and they ought not to be doing complex research such as engineered or gain-of-function research. that should be done in level three or four lab we have one in vanderbilt in nashville and another in north carolina but

wuhan does not have the same safety rating. we know that we know what they did with locking down wuhan, we know they said maybe it came from the wet market. here's what we have to look at and this is why it's so important to hear from some of the chinese scientist and former scientific diplomat. this originated at some point either in the lab, right outside the lab they were doing this research, somehow it is either out of the lab intentionally or unintentionally or it's spreading. we don't know these answers and that's what we need to hear and of course they are going to block it and now they're blocking the w.h.o. china is on their own and the rest of the world wants answers.

maria: we will see if anything comes out of this upcoming week's meeting on wednesday when their traveling to china the last couple of meetings covid did not come up i find that wildly ridiculous that joe biden has not pressured xi jinping on this yet but we have another troubling covid story with the lack of attention from this administration fox news has learned the number of migrants who tested positive for covid coming over the border in the rio grande valley was up 900% in june that is up from the past 14 months and now we know 30% of the migrants are refusing to get the covid vaccine, you have a border crisis that is worsening and turning into a covid crisis. >> indeed bear in mind we have people from 160 different countries that have come in and when you look at the vaccination

rates of the countries where people are coming, it is astounding that so few have received vaccinations and yes indeed as you said the spike in the covid rate and what it is doing to the border counties, were all looking at the numbers and the climbing of the numbers and the concern of the local mayors, the sheriff's, the concern for the border patrol we have seen arising covid cases but also bear in mind they now have planes they are bringing in and putting migrants on the planes and flying them around the country and every state is a border town in every state is a border town, it is so unfortunate and it is so uncalled for. maria: it's extraordinary really quick before you go we have investors watching what should

they expect in terms of domestic spending, this infrastructure plan and the three and half trillion dollar plan with higher taxes that president biden is trying to jam the reconciliation. >> it is a tax and spend free for the democrats in the three and half trillion dollar plan which is really a 5 trillion-dollar plan is a budget buster and then you have the infrastructure plan, all of the infrastructure components on surface transportation out of the science and transportation committee told about $350 billion over five years that's what the american people are wanting to see and i can tell you for sure it's what they are wanting to see. maria: we will leave it there. great to see you, thank you for walking us through all of that will be watching policy, senator

marsha blackburn. giving putin more power critics here and abroad slamming biden steel to allow the nord stream 2 pipeline to proceed former secretary of state mike pompeo is next weighing in on that, is next weighing in on that, hear what he has to say there's an america we build and one we explore. one that's been paved and one that's forever wild. but freedom means you don't have to choose just one adventure.

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allow completion of a russia to germany pipeline critics here and abroad the russia political and economic power over europe and especially ukraine i asked secretary of state mike pompeo about that and why so many biden policies seem to favor our adversaries. >> this deal that they will cut with the germans benefits to people the rich oligarchs inside of russia and the wealthy elites in germany and no one else that undermines ukrainians, our friends in poland, the united states and nato it is now the case that the russians will have enormous influence and imagining the time of conflict if things go wrong imagine what they will do with that and today you can see water me putin and how the ukrainian people and belarusian people are just like the russians. this is a vice president who served in the administration to allow the russian to take one fifth of ukraine there selling ukraine down the river and i

have to mention, i cannot let it go had our administration does that adam schiff to nancy pelosi would've been each to the present he would cozied up to view ukrainians, it would've been all over, the new york times, washington post everybody would've been on fire they have given this energy lifeline to the russians which can choke off eastern europe in the ukraine, this is a terrible tragedy they have all the tools to do it, we give them enormous leverage and the throated away to cut a deal on climate change that they will go to the cop in november and every indication that this administration cares about one thing what happens in covid can happen in november and back to china. the first person to travel to china on behalf of the united states of a senior official was john kerry, climate change has become the thing that the president will sacrifice every bit of our national security for a little bit of carbon reduction it's tragic what they're doing with the nord stream 2 pipeline and it will undermine american

national security. maria: it is tragic and insane and i don't understand the motivation. you know this not just from your time as secretary of state you and the director of the cia and in congress where you started investigating china a decade plus ago, you understand what the cc is up to and how it is changed in terms of becoming more communist and dictatorship, tell me in your view why do we constantly in this administration give more and more to our adversaries under joe biden's administration oil prices have pretty much doubled in reaching vladimir putin and in iran in china giving away the store as they steal from us intellectual property is the least of it.

>> is and is applicable to me i wish i could help you in your audience understand why they're doing this, it's insane and it's incomprehensible why it is they don't understand the start from the chinese communist party, remember there is communist closer to home that they refused to callout in the freedom loving people of cuba i think the democrat party have been captured on the left by a group of people who see socialism is a step away from communism and they see each of those two things as something that makes people a little more equal and the best explanation i can find intolerable, and dangerous to head down that path, we know this we sell with the wuhan virus come around in the chinese communist party, we saw big american companies a big financial interest in china refusing to do the right thing and disengage in the way that they need to with the chinese communist party big elite, new york financial institution the

ones underwriting the democrat party i do not know the answer why they chose these but there's too many people who don't understand the risk that the chinese communist party presents and are prepared to confront in the serious way our administration was. maria: what do you want to say to those corporations that are ready to open up shop in china because they got licenses from the ccp and by the way is there any reason to believe that the ccp keeps any promises on climate change for this administration and if they kept any promises before? >> no not only will they keep the promises, they are laughing when they get in their rooms they are mocking us another making false promises and that biden administration will by hook, line and seeker. these companies tell us that they care about blocks and civil rights inequity and they tell us these things and they do

business with the chinese communist party, some of these companies are underwriting walkways matter and we've seen black lives matter been stripped bare, there is communist sympathizers instead of a marxist organization. what they need to decide are they going to be american companies, companies understand the risk the united states of america, are they prepared to operate in a way that is consistent with the privilege that they have to operate inside the united states of america we need to demand this and if they failed we need to pass laws that demand that they comply with the things that make sense for the united states of america and united states of america and america ♪ ♪ ♪ united states of america and america ♪ ♪ ♪ security at your fingertips.

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maria: welcome back another big program in the works for next weekend tune into wall street every friday night 9:00 p.m. eastern right here and on fox news all see you sunday morning 10:00 a.m. eastern on the fox

news channel for "sunday morning features" exclusive interview with the governor of texas greg abbott, senator ron johnson, congressman devin nunes and the chief operating officer of teal capital, writing for the arizona senate seat candidate blake masters will be with me, right here on fox business start smart every weekday from 6 - 9:00 a.m. eastern with "mornings with maria" on fox business. e you will start your day with us every weekday. that will do it for us for now, think of for joining me, have a great rest of the weekend. i will see you next time. ♪. gerry: hello and welcome to the wall street journal at large. sometime when it comes to covid there is been a tension among the progressive elites that control the institutions of this country, on the one hand they fallen in love with authoritarian positions of public health crisis has created a want the emergency to and for