matson on how low stocks can go. texas congressman on how his border district is preparing for a potential flood of thousands more migrants. but first, gasoline prices continue to climb with j.p. morgan now warning will see an average of over $6 a gallon by the end of the summer. americans are now spending $5000 a household, a year on gasoline for the administration looking to make a deal with venezuela to tap venezuela's oil oil supply instead of ours here in the u.s. here's reaction from florida senator marco rubio. >> officer they sympathize with these people for they hated the sanctions and they just thought oil was a good excuse they could get people to support them on for this is nothing to do with oil because venezuela cannot provide the oil per the oil we need we have it's in america. nay allows to export and they are not. maria: joined me too join and

talk about that former sucker chuck and governor of texas. governor rick perry. good to see if we think some being here. give us your reaction to the administration now going to venezuela rather than to our own u.s. drillers? well, senator rubio was spot on there with his remarks. the idea we are going to a dictator in south america who hates us, who works against us, who is in bed with those in cuba and the other marxists in the western hemisphere will be have those resources right here on shore whether be in the gulf of mexico that's where the heavy crude comes from. which is what they are processing down there. it is just beyond me. this administration clearly told us early on when he's running running for office joe biden said going to do it with the far away with the fossil fuel industry. playing to his left for the left

is holding him to his political remarks he made during the election. the american people paired by the vote for joe biden or not you are paying the bill. i think that is the message people need to understand everything. and i mean everything associated to energy cost in some form or fashion reported the inflation that is being driven today is because of energy cost. whether it is to move produce around in the united states you name it. energy has a real impact on the cost of energy. this is menstruation is a fess up. i admit that politically they have one election but the american people are going to pay the price. >> government you make such a great point. what most people want is some honesty. there is such a dishonesty about this after inflation spikes to 40 year high biden starts blaming vladimir putin and then

he says there's all these leases around. it's all of the rules and regulations this ministration comes out with to hamper fossil fuel. >> it is somewhat like playing a hand of poker if you will for this plenty of cards to go around, permits. we stand up in the white house for all these permits out there there are a lot of permits out there it is the regulation that's behind those permits. it's the regulations which i might using the sec for climate it's nonsense to stand up and try to make the american people believe that the oil and gas industry is not interested in going out there and producing.

yes they are. they're also paying attention. >> you mention the interior department the current energy secretary ruled on capitol hill thursday here's what they had to say about a plan when asked about gas prices skyrocketing, watch. >> you believe gas prices are too high? >> i think that still recovering from this terrible pandemic and other world is making difficult for all of us pray. >> you are unwilling to say gas prices are too high? >> we are doing all we can senator. >> it is not administration policies that have affected supply and demand. >> how can you say that it won't you answer my question from january to august the price of gasoline was up 30% in my state alone. are you telling me madam

secretary, are you telling me under oath that these policies had no effect? >> know they did not. ask vladimir putin for. >> as a remarkable statement i have to save madam secretary your answers are insulting. >> and governor what did you make of that exchange? >> i think he said it pretty right that is insulting to the american people. yes and gas prices are too high. anybody knows that. the idea you won't look the people in the face and say look we made a mistake. whether it is pumping literally billions of dollars into the emir and can economy that's driving part of this inflation paid whether it's the energy policies we put into place that basically have driven the cost of gasoline to all-time highs and they are going higher paper fixing to go into the summer months it's going to be a brutal summer. though honesty, they just can't bring themselves to say we made

some mistakes, here is what we are going to do to correct them. it is hard to do, i get it. if you care about americans, he care about their quality of life. it's headed in the direction of putting that product all around the globe. i don't even want to get into the issue of what john kerry and his folks are doing globally. telling people we are going to go to zero by three is a death sentence for literally millions of people around the globe. that is nonsense and they need to fess up. maria: this is the first policy biden made him when walked into the white house, cutting -- stopping drilling on federal and that's just one of biden's growing list of crises.

take a look at cover of the "new york post" this week you are looking at a list that is growing in terms of the train wreck that is joe biden's policy. how do you assess this right now? >> obviously the american people are going to assess it. they're going to do it in november. think it is going to be a powerful message, you can follow this up to monumental proportions. we are going to punish you. were going to bring people back in that we trust will get this country back on track. that is the real message that is the real assessment that's going to be occurring. >> eric governor great to see a parade rick perry thanks much for weighing in. >> and governor rick perry meanwhile it's another wild leak for stocks on wall street for the doubt logging it's worse losing streak in 90 years. mark madsen on where we go from

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maria: welcome back in. don't check your 401(k) right now. stocks continue to sell off it. another tough week the dow ending down for the eighth week in a row. the longest losing streak in 90 years by the s&p 500 the nasdaq down seven weeks, the longest and 21 years for joy to me right now is matson money founder and ceo mark great to have you. it has been painful. how do you see this week and what should you be doing now? are there enough declines that perhaps we are seeing some value yet? >> maria i'm going to deal some of the common mistakes investors make. why the huge ones we see is loading up on tech stocks. people are very familiar with them. that has a lot of behind a site biased and a lot of hurting by desperate people feel

comfortable for doing what other people are doing. tech stocks, as you know her down the ballpark of 25% this year. another big mistake they make is investing in a long bonsai did cheat out on the yield curve to suck out a little higher interest rate. those are down 20% year to date. if you factor in inflation the ballpark of 8%, many investors are seeing the real value of their portfolio here today. if they actually invested in crypto they could've seen parts of their portfolio down from 50 -- one 100% over the past week. this has been a disastrous awake for investors brother going to have to do a better job of diversifying on a global basis. it's really dangerous to be myopically focused on a couple stocks here in the u.s. maria: is there anywhere to hide right now? energy has been one space to be in we've seen gains year to date. broadly speaking were talking at a macro story that is deteriorating. got a contractual ready gdp

contracting the first quarter. a lot of worry about recession. do you expect recession? we certainly saw some retailers trait is if we are in it right now this week. >> you have the big three you have investors looking at the war in ukraine. you have inflation ticking in at 8%. we have had two negative quarters, or going to have another negative quarter that would put us in an official recession? i think chances are high for that. i also want to warn investors just because these things look disastrous they are very detrimental that many americans and globally all of that's already factored into the prices of stocks. stocks are forward-looking the market is forward looking pretty it's only going to be the unknowable and unpredictable things that are changing prices going forward. so what is an investor to do about it? number one high quality short income to offset the volatility in the market then you got to diversify globally.

international value stocks are only down 2% versus the nasdaq down 25%. short-term fixed income is only down 1% year-to-date. you've got to diversify globally. small value stocks and united states are only down 7%. you have to diversify. and benefit does go lower, maria you have to sell your fixed income and buy more while it is down parts were the things for investors to do. they know they should buy things when they are down. but it goes against human emotions and instincts. maria: may be but you're also talking about an environment that feels tough. feels like it's worsening. look what happened with the target quarter. target was down 25% because it seeing demand destruction and seeing inflation cut into the ability to buy at consumer's willingness to spend money. same thing happened at ross stores, walmart, home depot was okay but it was a week of

retail. this week that really gave us a window into a consumer that is slowing down even if they do have money to spend they are not doing. does that scare you out of this market right now and cause you to raise cash? >> it doesn't, that is called market timing. trying to predict work prices are going next. it's very dangerous it so hard for investors to watch that market go down. watch those stocks go down and sew up the fixed income in their portfolio and bite when it is low. history is really precise on this. no one can tell you or anyone else for the next 20% of the movement is going to be of 20 upper now we know throughout history the next one 100% movement is always up. maria: market is seo thanks so much good advice for investors today. mark matson joining a spittle take a short break. when we come back border states are now preparing for an influx of thousands more migrants a day. homeland security secretary mayorkas visiting the border trying to ease concerns but he

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it will end on may 23 read that does not mean the border is open beginning on may 23 we continue to enforce the laws of this country. we continued to remove individuals who do not qualify for relief under the laws of this country. >> secretary of security mayorkas assisting ill not open when title 42 goes away.

experts, border agents are protecting 18000 migrants today up from 7000 a day will float over the board of the city of el paso's even planning to declare a state of emergency and preparation of the surge. joy made out texas congressman, navy veteran, congressman greg to see her this weekend. thank you for being here. your district includes more than 800 miles of the border. more than any other district, what you expecting? let's thank you for having me on. the american public has to ask themselves are we better off than we were 17 months ago? we have a broken border. we have a rising inflation. supply chain issues, parents cannot even get baby formula. it's absolutely terrible. but i am saying is the border is completely open regardless of what secretary mayorkas says. and el paso they dumped over 100 illegal migrants into the city.

the ngos were dumping people to cities like that that in other places as well. maria: is exterminated to look at what is taking place here. mayorkas said in the soundbite we are following the law but isn't it true they were blowing off the loud and it comes things like remain in mexico? >> they are using words they are not following up with actions. the courts force them to re- implement the remaining mexico policy. they did but they did at numbers that were so small it became insignificant. that's the same thing they're trying to do a title 42. they're trying to do away with literally the last trumpet that works than the time when the crisis is as high as it has ever been. us along the border just anything cannot get worse the administration goes off and they make another policy change, removing title 42 is the wrong

approach. we are seeing a number of members the house and the senate that are pushing back against it. maria: even democrats they know they are up for reelection in november. the american people are angry. look, you just said they were told to eat institute remain in mexico and they did. let's be clear they didn't they didn't come back and use remain in mexico. they didn't instituted they are only sending a few people back. people go back and remain a met mexico? >> that is exactly right trying to run the exact same player without afforded to telling the border patrol agent stop using data forces going to go away i suspect the courts come out and will rule in favor of keeping that around.

on the house instead of the be some legislation that keeps it around. they're trying to attack it regardless of it stays around. they're trying to move to title eight. i asked him to border patrol agents what's the difference when title 40 students title 48 the biggest difference is you can remove someone in minutes by david. >> give us a sense of light life on the ground in your district forgive 800 miles on the border. houses white open border impact of the people? >> it is like watching a mad max movie is apocalyptic. had these small towns that have hundreds of illegal migrants walking around. got damage to property, theft it is pure chaos. everyone has been sucked up into this. stop or move impulses 42 because trump implemented it does with

title 42 that work along the border. >> one of the issues that's turned off hispanics. got a new poll showing most hispanics do not approve of the job president biden is doing. 60% said they disappear. you had 55% supporting him back in 2021. that is a huge movie mention hispanics over assistant and attendant loss of voters. what can you tell us about that group? >> the hispanic community is no different than the rest of america. america has had enough of joe biden. i am a mexican-american my district a hundred miles of border, over 70% hispanic. everyone is furious with this administration because they see right through their lives.

they seat right to their direction audits. i am excited for the republican party. this week actually we unveiled this hispanic leadership trust in what that's going to do is help us select hispanic conservative members to the house of representatives. we need more of that. in areas as a race in texas 34 will be the first one will be others across the country. >> commerce when tony gonzales joining us this weekend. thank you sir. >> thank you. folks don't go anywhere more folks don't go anywhere more wall street right liberty mutual customizes your car insurance so you only pay for whatchya... line? need. liberty biberty— cut. liberty... are we married to mutual? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ big game today! everybody ready? alexa, ask buick to start my enclave. starting your buick enclave. i just love our new alexa. dad, it's a buick.

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maria: welcome back for another big show that works for next weekend. makes you tune into wall street every friday night at 7:00 p.m. eastern. i will see over and fox news on sunday, sunday morning futures is live on fox news channel 10:00 a.m. eastern. i've got exclusive interviews with senators tom cotton

marshall. for martin cash patel former senior advisor to the clinton, mark penn's talk about the polls for joining us live a sunday. plus right here in foxbusiness star smart every weekday 6:00 a.m. -- 9:00 a.m. eastern from morning to maria on foxbusiness but we hope you'll start your morning with us every weekday. that'll do it for us for this your weekend everybody pete i'll see him again next time. ♪ ♪ ♪ ♪ ♪ ♪ ♪. gerry: hello, this book on the wall street journal at large, primaries across the country but is a mixed in perhaps the biggest race of all still uncertain message for both parties. what of a lead for most important election week so far this year? plus a white supremacist murderous tenant black people and wounded three others in buffalo. democrats in the media of course are quick to blame