individuals and families who are not in the nation legally. >> he did not mean everyone. he just met some. it's a first world problem, is sounds good. when you show up, you are being rude and probably racist. sean: is good politics. what bugs me, people used to come here for the american dream. they wanted to work and go live in neighborhoods where new people are family and now people are getting free trips all of the country, free cell phones, food and housing. why are we paying for everyone to come into the country and live the american dream. that should be on them instead of us emerge in taxpayer. sean: the even get redeye flights. i live in louisiana i cannot get redeye flight where you can fly at night. dagen: you are the best. >> from the fox studios in new york city. this is "maria bartiromo wall

street". >> happy weekend to all, welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo. interference in delay house republicans releasing damning allegations of the irs, the fbi and the d.o.j. and dealings with hunter biden. i spoke to the house ways and means committee jason smith about it. >> the whistleblowers brought to life inviting federal government, all americans are not treated equally. if your wealthy and politically connected to the biden family you will have special treatment. the u.s. attorney in delaware according to the whistleblowers tried to bring charges in the district of columbia and was denied and tried to bring hargis and central district of california and was denied. requested a special counsel was denied. clearly it is not an independent investigation according to the

attorney general of the united states. maria: the whistleblower also revealing a text message sent from hunter biden. this was on whatsapp. he's threatening a chinese businessman to fulfill a commitment or face retaliation from his father joe biden. i'm sitting here with my father and all make certain between the man sitting next to me and every person that he knows and my ability to hold a grudge that you will regret not following my direction. the president continues to deny any involvement in his son's business dealings. democrats are downplaying the severity of all of this. here is house minority leader hakeem jefferis. >> these are not serious people on the republican side of the ally. they are not addressing any issues of relevance to the american people. what is going on before the judiciary committee and the oversight committee in many other places like the ways and

means committee. it is an effort to try to damage president joe biden. maria: joining behalf judiciary committee chairman and member of the house oversight committee jim jordan. thank you so much for being here. you just heard hakeem jefferis. he is talking about you, you are not a serious person he said. >> it's not he said, this is damaging joe, no it's not it's not about damaging the president is equal treatment under the law, one standard of justice, that's what this is about, 60% of the country believes the d.o.j. and fbi had a different standard, double standard and they believe that because it is true and you can see it day after day after day and frankly year after year because it started back in 2016. john durham told us how wrong the investigation was, crossfire hurricane about president trump. this is has been going on for

seven years and that's what were trying to get changed. the biggest take away from the whistleblower that chairman smith talked about and release the transcript, the biggest take away, the u.s. attorney wanted special counsel status. if you can give special counsel status to a u.s. attorney investigating the son of the sitting president and former vice president, who can you give it to, why wouldn't they do that, they did not do it because they wanted to limit what this guy can do and not bring charges to the district of columbia and california. that is the most telling thing of the whistleblowers transcript in testimony that this president and this administration and justice department denied david weiss request for special counsel status. maria: you know what, i would go further and say it's not just about the two tears of justice this is about actual crimi criminality. message where hunter biden is

will face retaliation, that is something that you hear from the mafia. here you hav was taken in by the biden family according to jason smith the house ways and paid for, is the selling american out to enrich their own family? >> what was the service provided in the value added, what were they doing and what were they being paid for and why are there multiple companies 150 suspicious activity reports and multiple biden's getting paid for the foreign nationals and of showbread it is not the big guy who the heck is, the thing that jumped out to me was a reference by the foreign national he used the term the big guy. and there on different sides of the equation. one was a business partner of hunter biden who is receiving the money now they 1023, the

foreign national who is paying the bidens and are using the term the big guy, that is compelling evidence and it looks like joe biden was involved in then you have whatsapp message that you reference before. was joe biden sitting beside hunter biden, i don't know but the fact that he sees in the name in the big guy makes us all wonder. >> this is stunning and extraordinary, what are you going to do about it, what can you do about it? it is corruption in plain sight will there be accountability and will they change the conversation again and indict donald trump? >> they already did that. if you think about this president and the admini administration, on the third day there is an e-mail sent to twitter that says please take the tweet down asap it was from robert f kennedy junior. on the third day there trying to censor their democrat primary opponent and ten days ago they indicted the republican general

election opponent. that's what this administration is up to to make it from the american people what mr. smith has come forward with now that the whistleblower brought to him. we will do the investigation and the work we are supposed to do in the appropriation process we will limit how taxpayer dollars can be spent at the agencies against the american people and if the investigation warns us going towards impeachment that is the direction we will move but we gotta let mr. commerce investigation play out and get all the facts on the table. maria: look at what happened with adam schiff sensor. the democrats were celebrating it saying this is a badge of honor for adam schiff after so many years of adam schiff going out there and lying to the american people telling us that trump colluded with russia as if he had special information as chairman of the intelligence committee. he did not and then there's impeachment articles which one

of your colleagues has raised. what happens now with the impeachment articles in the judiciary committee. >> the issue has been referred to ethics and strong support from republicans in the house and that's why it passed. the impeachment with congressman that was sent to the homeland security committee with secondary, to us. the reason it was sent to homeland security with the resolution that dealt with the border situation. it was all focused on joe biden and this administration in mayorkas and intentionally uppity the border like they have over the last two and half years. maria: were to be watching your moves, thank you, sir. chairman jim jordan joining us. as the recession and minute wealth manager mark tepper says we can expect it within months. i'm asking why and where he's putting his money ahead. stay witwhh us.

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maria: welcome back take a look at where markets ended the week after the federal reserve chairman jerry powell told lawmakers they will not be any rate cuts anytime soon as inflation remains were persistent but expected. j.p. morgan's warning we have yet to feel the effects of all the federal reserve rate hikes on the economy. joining me strategic wealth partner mark tepper, great to see you. i know you say a recession is coming within the next six months. >> i 100% bully by the end of this year we will be in a recession if we look at the last three quarters of gdp. we went from 3.2 to 2.6 nata 1.3%. i think it's going to 0 over the course of the next six months. if we took a little bit of a closer look at the 1.3%, 1.04% of the 1.3 was auto purchases.

that's an incredibly outsize number for something people buy once every ten years. the market wants to believe inflation is cured but the sticky component would definitely say otherwise. food is up 6.7% year-over-year, wages up 6% year-over-year in the fed is not going to believe that they have inflation under control until there is a reset in the labor market and we are not there yet. >> i think it's great points, look where we are we are a week away from the end of the first half of the year in the markets are on fire. next week is the end of the second quarter, here we are the first half in the books, nasdaq up 30% year over date. were waiting for all of this recessionary environment to take place while stocks move higher, go figure. >> without a doubt and before we know it is summertime going to be over in there is a huge

disconnect from the economy and the stock market in the s&p is up 16% so far this year. but we talked about this with morning to maria on the past. the rally has been incredibly narrow. if you makes ago the seven biggest docs in the s&p were responsible for 90% of the years returns. now only 80% of the years returns because other stocks have started to perform a tad bit but the rally, it seems like the rally has been fueled by animal spirits surrounding a.i. rather than driven by fundamentals. a question is this a new bull market or a bear market rally. most bull markets need to see 8e s&p trade above the 50 day moving average. we are at 60%. until we get above 80% it is really tough to say that this is the beginning of a bull market.

maria: what does the second half look like for the markets? what do i want to do the same thing i did in the first half? >> if you hit the nail on the head on the first half you are in growth stocks and stock somehow someway were incorporating a.i. it's been the big thing. once we get to the point where the fed is done hiking. i don't believe the done i think there's two were hikes to come, just like they're implying. once we get to that point we want to rotate out of growth stocks into defensive sectors. when i get into consumer staples, those have been big-time underperformers so far this year end those will be the winners as soon as the fed is done with their hiking and we start to look forward as to when the first cut would take place. maria: i am just wondering once the market figures out there are no rate cuts on the horizon and rates have not peaked, the going

higher to 7%. do we see a sizable selloff. will there be a better opportunity to buy later on in the year? >> i believe so. at the same point in time i hope i am wrong. were managing client funds and we want the market to continue to move forward so were growing wealth every single quarter. as much as i want to say there will be a better opportunity in the future we have to be putin investors and we can't push all of her chips on a bearish narrative. we have to be realistic. if you're sitting on cash i've been telling clients who been sitting in cash we have to dollar cost average our way in. we might by high now and we might get stocks on sale 3 - 6 months from today but we cannot afford to sit 100% in cash while the market is up 15% in the first three months of the year. from an actionable standpoint

what you want to do is make sure you have some exposure. maria: we will leave it there. great to see you, thank you so much. mark tepper joining us. demanding more from answers for delays, why hasn't the director of national intelligence release documents on the origins of covid-19. they were due by law last week. president biden discussing sensitive information about the china spy balloon at a democrat fundraiser. john ratcliffe responded to all of that next. meet the team... behind the team. the coach. the manager. and the snack dad. all using chase to keep up with their finances. the coach helps save goals here, because she saved for soccer camp there. anddd check this out... the manager deposited a check. magic. and the snack dad? he's getting paid back. orange slicesss. because this team all has chase.

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maria: welcome back breaking the law, divided the administration and national intelligence failing to meet the deadline for de- classifying and releasing documents on the origin of covid-19 and connection to china's wuhan lab.

a bill that was unanimously passed by congress and signed into law by the president and marge set the deadline for last sunday and they missed it. former director of national intelligence john ratcliffe thank you for joining us as we can, what is your reaction to the fact fully how covid-19 showed up and whether or not the wuhan lab has information for us and they missed the deadline to release the documents. >> as you said they didn't just miss the deadline they violated the law and it shows how an administration that talks about the rule of law selectively pick which laws they want to comply with. there is a couple of reasons for the delay, one of they did not want this coming out before anthony blinken went to xi jinping to beg for a meeting and they did not want this report complicated not.

the bigger issue and i talked to a number of different sources that worked for me in the intelligence community. they're working hard to deliver china friendly version of this report of they can in the try to put the genie back in the bottle and keep alive the idea that this could've possibly been a wet market natural origin when in fact more and more evidence supports what i testify under oath which is the circumstantial evidence overwhelming about a lab leak and some of which recently the three scientists who were working on the coronavirus at the wuhan institute of rolla g were the first individuals to become sick with coronavirus like symptoms, is that intelligence that i think the biden administration does not want you to see. it will complicate their efforts to deal with china. maria: why walk around on eggshells with the communist

party we were talking about jim jordan the chairman of the judiciary committee about all of this bad behavior from hunter biden and potentially breaking the law and accepting all the money. is that the reason he's so soft walking on eggshells on the ccp. >> the more evidence that we see about that in that case certainly supports that. it's gotta be cowardice or incompetence or complicity in the fact that they don't want to deal with china because china has been paying so many folks related to the biden administration including hunter biden in the whistleblower testimony, the evidence, hunter biden has now been recorded, sitting with my father to the chinese communist party official

saying you owe me in my father, you need to pay us that type of evidence really supports the notion that the china friendly policy may be influenced by those factors unfortunately. maria: now we see joe biden calling xi jinping a dictator. i wonder if this is set up on the ccp. the chinese communist party responded after the president called xi jinping a dictator releasing the statement. the chinese government and people do not accept any political provocation against china's top leader in will resolutely respond. despite this biden is telling reporters his, has no consequence in the china relations. he reportedly discussed sensitive information of the chinese bible and in a democrat fundraiser. the new york times is reporting that xi jinping got upset when biden shot down the spy balloon because president xi jinping did not know it was there.

how absurd is that. can you sit there and tell us that xi jinping was unaware of the spy balloon traveling throughout america in sending military secrets back to beijing in real time. were supposed to believe the leader of china who knows everything about everybody and has a surveillance program underway did not know about the spy balloon. >> it is absurd. a couple of things what joe biden said about xi jinping being a dictator is correct. he is a killer of his own people, the genocide of shipping alone reflects that. but it also shows when joe biden goes off script he acknowledges what china and xi jinping really are they try to keep them on script saying china is a competitor in his disingenuous and dishonest to the american people. the other part that you talked about that ties back to the

two-tier justice you've joe biden talking about classified information with xi jinping and right now joe biden justice department is seeking 400 years in prison donald trump or mishandling classified information. maria: john ratcliffe, thank you so much for joining us this weekend. we so appreciated. good to see you. one important thing you need to know about ahead of next week. r this.so ♪me you can act quickly. that's decision tech, only from fidelity. our heritage is ingrained in our skin. and even when we metamorphosize into our new evolved form, we carry that spirit with us. because you can take alfa romeo out of italy.

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flight, the shuttle will carry six passengers from the italian air force and the national research council of italy. initial tickets were these fights were sold a decade ago for $200,000. now they're going for $450,000. 800 tickets have been sold so far with excitement building the company stock is soaring and will follow all of this with "mornings with maria" next week six -9 am eastern, join us every weekday on fox business with "mornings with maria". i'll see you on the fox news channel 10:00 a.m. eastern live on the fox news channel, have exquisite interviews with house foreign affairs committee chairman michael mccaul, congressman byron donalds and nancy mace and peter schweizer. we will get into a sunday live 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 the weekend and i'll see you next time. >> "barron's roundtable" spoke on transponder bal