fundraising. there's still money out there she's going to cost more if that makes sense. james: last thing is there a general sense that the industry's relationship to washington is about to change in a big way or does it seemed like an lot of noise from the political class. >> you'd have to ask my colleagues at the ftc and to cover the ftc and washington politicians about that one. james: is probably going to need to ask them because were out of time. thank you for joining us. james: i am james freeman and for elizabeth macdonald you're watching "the evening edit" on fox business. that does it for us, happy new year, thank you for watching, please come back next year which i guess is monday, sunday? >> from the fox studio in new york city, this is "maria bartiromo's wall street".

>> welcome to the program that analyzes the week that was an helps position you for the week ahead. i'm cheryl casone a and for maria bartiromo, back on track southwest to resume th schedule this week and after a week of cancellations left thousands of passengers stranded throughout the country. fears calls for the airline and transportation secretary pete buttigieg to be held accountable congresswoman nancy mason on what needs to happen now. the worst year for market since the financial crisis of 2018. i'm asking investment strategist how to position your portfolio going into 2023 in a real estate reckoning what you need to know before you buy or sell a home in the year to come. but first southwest trying to resume a full flight schedule and dig out from the mess after canceling 15000 flights. passengers have finally made it

home are trying to find and recover their luggage critics are slamming southwest outdated systems and communication pilot say this did not come as a surprise. >> all the employees doing everything we can at the end of the day southwest was not prepared and this is a decade in the making we sounded alarm bells we've tried to get them to change process but it's a combination of process outdated technology and infrastructure. >> transportation secretary pete buttigieg had this to say. >> their system has completely melted down and i'll make clear our department will be holding them accountable for their responsibilities to customers to get them through the situation and make sure this cannot happen again. >> house transportation committee member nancy mace, it's good to have you here. the secretary said he's going to hold southwest accountable, what does that mean to you, what can

the administration do about this what is your committee going to do about this people are furious. >> that's the million-dollar question positive people everyone knows somebody who's been impacted by the southwest airline meltdown this week. it's one thing to send a letter and vaguely so you can hold southwestern airlines accountable, what does that mean what's going to happen there are two things that need to happen i think rosina from the market side of things the stock was down and customers that are saying they're never going to fly southwest airlines until they get their act together that's a natural correction that must happen to figure to keep the doors open and customers flying they were worn since 2014 from pilots, crew and the pilots association that the technology infrastructure was a problem and is recently of november 14 issue the pilots association said they would take one thunderstorm one natural disaster or challenge in the whole thing would meltdown

and he was right unfortunately. that's the first thing watching the market correct what needs to happen there but important because southwest received $7 billion from taxpayers during covid there needs to be an accounting i would hear pete buttigieg say he cannot at the $7 billion and we're going to find out how was spent or invested and wasted in some cases in the database and technology failures are totally unacceptable in 2022. this did not need to happen every other airline was opening back up after the weather cleared and things warmed up i'm sitting here today my kids were stranded in baltimore on christmas eve their luggage is still missing, the gal operating the camera and frenemy right now got stuck in stranded and five days in denver, colorado and unable to see her family christmas but made it home without luggage like somebody people but there needs to be a full accounting about money.

cheryl: do you support finding southwest airline, is not part of the reckoning you received? >> one of the things i'm concerned is ensuring the consumer prices in flight prices. i think when there's overregulation what happens is a consumer who's been hurt in this case ends up holding the fines what i do want to find out number one why they have been worn for almost a decade in the next time they come groveling to the federal government for money they don't get we have subsidize a rewarding bad behavior in this case. >> absolutely united american and other airlines stepped in and they captors to make sure your kids and others actually got where they needed to go they stepped in the last minute for those passengers we have to give them credit even though the

southwest is staring down the barrel of a gun and they get to be in front of congress in the new year let's talk about something she said on oversight republicans are going to take control of the house days from now what are your first priorities for the new congress. number one we have ten elected speaker, until we do the republicans in the majority of the house it doesn't mean anything because we're going to be behind in terms of our committee assignments and delivering on our agenda but number one we need to address the inflation situation it is taxation we need to look at further ways to support, improve fnc's in the supply chain that contributes to inflation, looking at energy more energy independent yet net exporters of oil and gas all of those things contribute to lower prices for hard-working americans, that's number one. number two we need to look at the border in the immigration crisis we cannot keep burying

our heads in the sand and pretended our borders secure in the influx of thousands upon thousands of individuals cosseted her country illegally isn't going to have a negative impact on our economy, our healthcare system et cetera it is going to and we need to work together to figure that out we have republicans in the majority in the house we have democrats in charge in the senate so is going to force us we want to deliver anything is going to force us to find ways to work together. another area and looking out oun oversight i'll be one of the five members will have a gavel and be a chairman on oversight but cybersecurity is a big issue, we saw during the last storm the grid was being attacked in different states, cybersecurity is national security. i'll be working on cyber issues in the oversight committee. the president signed one of my bills into law last week but that's an area to where we really need to look at security measures across the board in cyber and elsewhere.

cheryl: obviously this could be on the play of congress, you do control the strings in the house of that's good news, maybe some fiscal responsibility will return to washington. i do want to ask you about kevin mccarthy his facing opposition by some members of your party one of his challengers is andy biggs this is what andy biggs had to say. >> there's other people that should be there and when people talk about those things they forget. >> is there any scenario you would ever though on any ballot where he get your vote. >> i don't think so. cheryl: how do you see this playing out with the vote next week? >> it is hard to say how it'll play out but i will tell you any delay in electing the speaker of the house will delay the republican agenda we are behind probably a month behind, 30 days in determining the chairman of our committee determining the

seeds each republican will have to deliver on the promises that we made when we were campaigning, the vast majority of the republican conference support kevin mccarthy we had the bow and conference and we talked about the rules and what we wanted to do as a conference and we all voted on this but i think it's very unfair when i agree i do sometimes with the house freedom caucus like i sympathize on the issues that centrist most care about but the reason kevin mccarthy is a leader of the conference right now, he understands and understood how to get us into the majority. he supported candidates like me that representatives swing districts and purple districts and understood what it took to get us here not the vast majority that we wanted but the country about 80% of americans are somewhere in the middle and he understood that and that's why were in the position today. i'm going to support him in the vast majority of the conference is going to support him that's

why the first or the tenth he's going to have the support i just hope it doesn't take more than a few hours or a few ballots because we have a strong conservative agenda to help the american people and that's what we have to deliver on very soon, sooner rather than later. cheryl: hopefully all of this doesn't hurt when everyone starts to work together with the new congress being sworn in and we would like to see some things accomplished, certainly we all have a lot on her plate for 2020. the three congresswoman, will look forward to talking to you in the new year. congresswoman nancy mace, great to have you here, thank you. >> absolutely, thank you. cheryl: stocks were rocked this year, markley sheeny on how to position your portfolio heading into the new year.ere, that is next. one who likes to be in the middle of it all, but also likes some peace and quiet. you hungry? i know a place, and few others nearby.

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cheryl: stocks slammed into thousand 22 with all three major averages ending sharply in the red, the worst year for all three since 2008 joining me now

scott chief investment strategist mar mark. where do we go from here. >> i think were good to continue to struggle a little bit in the first half of next year before perhaps we see green shoots emerge economically into the second half such that investors can look across the valley particularly in the midst of a recession at that point time and look for a brighter 2024 on a year-over-year basis, market will perform reasonably well and still look for stocks that produce single-digit types of returns but nonetheless the road between here and the end of next year may be bumpy and a cautious approach over the first half and a better buying opportunity over the next couple of months or quarters. >> let's talk about the threat of recession, you brought that up we heard strategist thank the recession will be in 2024, they

think will have a but they think it's 24 your pointing word 200023 is that a second-quarter story or third-quarter story is any way to predict that right now? >> a couple of signals that have high efficacy to the predictive value leading economic indicators issued by the conference board and the yield curve the three month over ten year yield both have shown signs in terms of providing advanced warning around the recession that typically lags by 7 - 12 months that would be indicative of a recession and perhaps in the third quarter of next year. having said that you mentioned some suggest we could see recession reverted in 2024 and have sympathy because we do have a reasonable amount of momentum coming out of the economy in the fourth quarter the atlanta federal reserve gdp showing 3.7% growth annualized at the end of

december so it does suggest perhaps we can revert to recession or postpone the printed 23 perhaps of the 24 but i'm going with history suggesting the second half are likely to encounter one interview. cheryl: a lot of this depends on what the federal reserve does do you think they'll be done with the rate hikes by the summer of 23? >> we do we think likely perhaps two more certainly recognizing and acknowledging the result to raise interest rates almost uniformly according to the most recent summary of economic projections at a five level perhaps even five and a quarter% we suggest two more rate hikes but i think it's happening concurrently with what appears to be a peak and inflation. it's a long way away from the average inflation target at 2% but nonetheless if we see a decline organically if not

necessarily steeply is suggest more likely to pause and look around before more in danger on the economy which they won't be able to recognize on some of the rate hikes in the past couple months let alone the potential forthcoming rate hikes with usually a 3 - 4 quarter lag. cheryl: really quick before we go what you telling people where to put their money for 23 like quality interview were likely to encounter economic headwinds later in the year one of the companies united healthcare is the poster child of quality well-managed in the sector we like healthcare arrested champion in terms of not done much that she relatively speaking outperform the s&p 500 handsomely but only up for 5% a year today basis that looks attractive to us as does perhaps

investors looking to nibble at the things that are been beaten up badly in the technology sector we like service now a subscription-based software company down 40% year to date 95% of the revenue are subscription base a lot of reoccurring revenue companies have to spend on technology to improve productivity and they spent disproportionally on software there are two stock pics in sectors that offer balance and i've seen a lot of carnage we could see phoenix rise from the ashes. cheryl: i hope so, mark thank you very much for being here, we appreciate it. >> a real estate reckoning, what to expect for the housing market in the new year. if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more.

cheryl: the american dream on hold for many out there a spike in mortgage rates putting

homebuyers and sellers plans on pause. new data showing the pending home sales index at a record low with 55% of americans saying there unable to buy a home in today's market. joining me what to expect in the new year is global real estate advisor, it's always great to talk with you. >> wonderful to talk with you. cheryl: the big question obviously where the market goes nationally in 2023, what are you predicting. >> 2023 i believe it's going to be a tough year i think maybe we'll get more of her recovery and 2024 but i think buyers could get relief for interest rates i think there will be a weakening of phone prices but existing home sales there's like to be a search in these existing home sales were seen existing home sales have fallen for ten consecutive months and annually down 35.4% in i think their 70

factors right now in the housing market one of the big factors is the changing economic conditions so many buyers have so much uncertainty winter we entering a recession when will the be 2023, 2024, there's so hesitant they feel that the world is too volatile right now and i've spoken with a lot of buyers and there's too much global unrest and it's really keeping them on the sidelines and i think the trend is going to continue in 2023. i think some areas are going to fare better than other areas but there's definitely going to be a deceleration. cheryl: let me get to that in the second everybody asked me the best markets and i have ideas but as far as sellers right now it seems that they are stuck sellers don't want to sell because a lot of them have two and 3% interest rates on their loans so they don't want to get

rid of them, there is a low supply so buyers are going after getting hit with interest rates over 6% so that affordability index is out the window for them, i think the question when do we unstick the buy and sell hold that were sitting on right now. cheryl: that's a great question i think the answer lies in what happens with the fed, what happens with the economy, affordability is a big issue right now for buyers and like you said were in the stock market. it's hard for buyers to get into the housing market. i've said it before but young families first-time homebuyers are the ones that are struggling the most persistent inflation is a big factor for so many americans right now so you have affordability keeping buyers out of the market and then you have sellers that don't have a big incentive to put their house on the market. they are sitting on the low interest-rate.

>> even though they want to get a bigger place or downsize if there at the end of their careers. real quick you mentioned the hot market you're based in florida would afford at miami and tampa are still strong but what are the strong markets for next year we should look at. >> i think it 2023 because affordability is such an issue for a lot of buyers, i think buyers are going to seek more affordable cities more affordable gems. a diamond in the rough. you might not hear about these places all the time but there out here there are some places in the midwest, chicago, milwaukee, those will be spots that buyers will migrate towards in gyms in the northeast that people are going to have to move there because affordability is driving the market and they want to be moving but they've gotta be able to afford it.

cheryl: real quick out west we see like we did in florida like people from california moved to arizona and nevada and texas and we see people from the northeast, new york and boston had to florida. out west i have to wonder if the phoenix nevada story will continue to be strong or a fall because there are a lot of homes. >> i believe phoenix, some of the places on the west coast i think we'll see a deceleration. cheryl: you do think that. >> i do think there will be a deceleration of prices because they had unsustainable price growth in this economy. my thanks to janice stauffer. i have one thing ahead of next week

cheryl: will come back one important thing you need to know ahead of next week and next year we are going to get a new read on jobs with the december report coming out on friday. expectations are for 200,000 jobs to be added.

down slightly from november 26, 3000 but more layoffs are on the way. analyst of citigroup are warning to million in 2023 without appointment back up to five and a quarter percent as the fed continues to raise rates. it's going to be a bumpy ride, tuna next friday night for reaction and analysis. tune in every wednesday 9:00 p.m. eastern time on fox business prime for my show american dream home gone country focusing on farming country homes and then we have beach life episodes. all of that on wednesday night as part of the lineup of fox business prime programming. that'll do it for us, thank you for watching. have a very happy new year. ♪ ♪ ♪