going to help boost agco's profit margin as well. and so the stock hasn't done great this year. i think it's down a little bit, but this could really give it a boost going ahead this week. stock picks brought to you by the letter a. thanks, guys. to read more, check out this week's edition at barrons.com. you can also follow us on formerly known as twitter. that's aberrans online and friday marks six months since wall street journal reporter evan gershkovich was wrongfully detained in russia. we hope you'll support evan's release on social media. please use the hashtag i stand with evan. and that's all for us. we'll see you next week on barron's roundtable. >> from the fox studio in new york city. this is "maria bartiromo wall

street". maria: happy we can to all. welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo, house republicans are zeroing in on president biden connection to his sons foreign influence peddling a potential bribery and the first impeachment inquiry hearing this week. >> used the money of the people that i represent in the fourth district of ohio to help his family and anyone with a brain can see that that's why the chairman wants the bank records and that's what were doing and impeachment inquiry cannot get plainer and simpler than that. he gets the request and calls his dad and his dad calls the audible and uses his money to leverage the change. anyone with common sense can see it. maria: house judiciary committee chairman jim jordan making the case and now house oversight committee james comer has formally issued new subpoenas for the personal and business bank records of both hunter biden and his uncle james biden

read he's calling this the next step in the investigation, earlier this week we learned of $260,000 sent from china to hunter biden but sent to joe biden's address during his presidential campaign. joy to me to discuss it in a fox business exclusive is chairman jim jordan. thank you very much for being here this weekend. >> it to be with you. maria: can you walk us through why $260,000 was sent to hunter biden at joe biden's address when in fact at the time in 2019 hunter was living in california. >> who knows one more piece of evidence that raises concerns for any common sense american out there who sees how the whole thing played out. this is why we continue to pursue our investigation and do oversight and as you mentioned it's why chairman comer has subpoenaed the bank records for

hunter and jim biden the presidents brother, we will see what further we learn from the new information when we get it. maria: congressman you know your colleagues on the left the democrats are defending joe biden and they did so in the first hearing in the impeachment inquiry this last week they say there is no evidence in this is all about trump and it is a jo joke. walk us through what you believe to be the most important damning evidence leading to potential bribery charges. >> five days in december in 2015 we learned about this when we depose devon archer, hunter biden's business partner, devon archer tells us on december 4, 2015 hunter biden a devon archer meeting with burisma executives that we are under pressure from the ukrainian prosecutor, can you help, they get a request. next question we asked devon

archer what it hunter biden do when he got the request devon archer's response, he called his dad. the obvious next question, what did his dad do if anything. we know way he did five days later he gets on the plane according to the washington post while on the plane ride decembeo ukraine he called an audible and says we will leverage american tax dollars to start the process of firing the prosecutor, directly does what was asked for by burisma executives. not only that prosecutor gets fire but the subsequent prosecutor to drop the charges against the head of burisma. that played out and no doubt those series of facts, what is important all of the pattern right there is consistent with what the confidential human source told the fbi in they recorded in the 1023 form. that happened this is a tale as old as time, this is a

politician taking certain action that benefits his family financially and the kicker, he tries to conceal it and cover it up and that's exactly what i believe the justice department did with the david weiss investigation. maria: where is this leading when is the next hearing and what are you planning to do once you get the bank records? >> what were doing on the judiciary committee we scheduled david weiss to come in for an interview and we want to talk to him on the investigation side and how we ran the investigation. why did they let the burisma statue of limitations, why did they let that expire. we think all the decisions and the investigation seem to show they were doing everything that they could to keep it away from the white house and to keep it away from joe biden. we want to talk to david weiss and two of the lawyers part of the investigation, hunter biden, those to come in for a deposition as well. we are working on all of that and chairman comer subpoenaed the bank records and we wanted to go look at that information. that is how i think a systematic

way we do our constitutional duty of oversight particularly now in this impeachment inquiry inquiry. maria: how long will the impeachment inquiry take you don't think you get a get and impeachment through the senate. >> we will see, again i don't see an artificial timeline, it's driven by the facts and evidence and our constitutional duty to do oversight. we are in an impeachment inquiry phase and we have to focus on doing our work and see where that leads. i think the evidence right now is pretty darn compelling when you focus on the burisma example that i just gave. never forget the four fundamental facts, hunter biden was put on the board of burisma fact number one number two he was not qualified to be on the board in the burisma executives asked him for specific help. fact number four, joe biden did exactly what was asked for, that is a real problem, that is your

repeatable evidence right there that something wrong was going on in professor turley said this is a corrupt confirmed scheme of influence peddling. that to me is pretty darn serious we will continue to dig and focus on the issue and the other things relative to other foreign nationals who are paying the biden's money. maria: then you have the whistleblower testimony where one fbi, former fbi whistleblower says or an irs whistleblower says one biden gets 5 million and the other gets 5 million and that's what we have to do to get protection. you have 176 suspicious activity reports. all of those e-mails 10% for the big guy. we will keep a spotlight on this but more pressing news this weekend. even elon musk went to the border and put a spotlight on it this week. i wonder why this week was so

chaotic. at 1.11000 people apprehended coming into a 24 hour . . . i don't think you've seen 11,011,000 in a day. >> the biden administration has set records year after year, day after day, it is just it's intentional and at some point you have to say this is crazy let's stop it. that's what i think we should be focused on trying to get are we going to put the right policy in place or have an open border continue to create these problems for our country. maria: good to see you, we will be watching your work. chairman of the house judiciary committee, jim jordan, new inflation numbers moving the markets amid the threat of a government shutdown and the growing auto workers strike. john lonski joins me on that. stay with us. >> what is really frustrating.

i believe we could reach a compromise on paying benefits but so far the uaw is holding the deal hostage over battery plants. keep in mind, the battery plants do not exist yet. >> nothing change from where we stand what we expect. it's unfortunate that companies chose to wait almost seven weeks to get serious about bargaining they put themselves in this position, bargaining is a two-way street we've been

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maria: welcome back. september many investors do not want to remember closing out the worst month of the year for the s&p and the nasdaq. the dow and s&p 500 ending the worst quarter since the third quarter of last year. here is a look at how markets ended this week amid concerns of a government shutdown and a slowing economy don't forget we

can have away from third-quarter earnings with the latest reading of the federal reserve preferred measure of inflation out showing core inflation near 4% but lower than the previous month, joining me right now the lonski group founder and president john lonski. good to see you. let's get your expectation and assessment of where we are where did you think of the inflation data on friday. >> good news core inflation we want to remember core inflation leaves out food and energy prices that have a lot to say about the struggles that american consumers now go through trying to make ends meet. where nowhere is close with core inflation getting into the 2% target that the fed is aiming for. we were at 3.9% for the month of august year of year end we have a ways to go. nearly 5% year-to-year increase by consumer service price inflation tells us the rogue to

present core inflation may be a long one. maria: we have challenges when it comes to the impact of all of that, oil prices are up at $100 a barrel and interest rates are up they just hit 15 year highs on the ten year what is your take on higher rates and higher oil. >> taken together that's bad news for the u.s. economy especially for consumers. we have the 30 year mortgage yield at 7.3% that is the highest it has been since the year 2000. that is a 23 year high. on top of that you have skyhigh prices for housing, elevated mortgage yield high prices for housing itself, home sales going forward and that will be bad

news for the spending that depend upon sales for housing, housing related retail sales in july and august were down by 4% from a year ago. higher prices in general leaves consumers with less money for discretionary consumer spending. i think we will be looking up a pretty mediocre holiday shopping season and the consensus view after very strong third-quarter for consumer spending the fourth quarter will be flat in consumer spending growing by 1% annualized. maria: layer on the uaw strike and camping up the pressure expanding the picket lines to more plants across the country. we are more than two weeks into the auto workers strike. what impact there and do you see this continuing. >> it's going to hurt unit sales

by u.s. manufacturers and it means the u.s. auto copies lose more ground to foreign competition. what we don't want to overlook is important of the planned electric vehicle subsidies battery subsidies to the auto industry this is riled the rank and file, they want a piece of the action. here we have a great example where the expansion of government spending in the form of subsidies is putting upward pressure on wages and the wage demand of the autoworker and in turn huge deficit in government spending would be leading to higher inflation. we may have a recession in 2024 that slows inflation but that will only be temporary if we continue to have budget deficit

between $1.52 trillion annually going forward. maria: you said the entire fight going on right now. good to see you. john lonski joining us out of control organized crime hitting business bottom line across the country. some big-name retailers are responding former target vice chairman gerald storch is here on how this needs to be dealt with right now. >> my go ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats?

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yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. maria: welcome back. the city of philadelphia is reeling in the aftermath of two

straight nights of looting throughout the city this week. more than 60 people have been arrested so far in connection to the ransacked businesses which included liquor store as well as lululemon, footlocker, apple store, target is joining the growing list of retailers shutting down doors in major democrat run cities closing nine stores because of safety concerns and theft. in the second quarter target lost more than $200 million worth of inventory, new numbers from the national retail federation shows retail theft is at a record high totaling $112 billion last year alone that is up from 94,000,002,021. joy to be former vice chairman of target gerald storch act with us. thank you very much for being here this is increasingly a major problem. now the companies are calling it shrink, the loss of inventory because of all the theft. how do you see things.

>> it is terrible in accelerating. we worked so hard with every retailer i've been not to put the stores in the difficult trade areas. it's critical for the community, they provide food, access to pharmacies and it's important service otherwise all that is left is mom-and-pop shops that charge too much and then you have people coming and rob them and make it so bad that you have to close the stores. i've seen some people say the insurance covers it, they don't have to close the stores they just wouldn't be there. trust me when target is closing stores, when walmart closed doors in chicago would nordstrom closed a major store in san francisco, they are doing it because of losing so much money and their employees are at a personal risk that they have no choice. maria: is any way to track the

items being stolen and attack those platforms and the people are stealing massive tvs and putting them on amazon can't amazon do something about it. >> absolutely there's been a lot of work in this area. one of the reasons the theft increases is because of the internet and offense ability turning these items into cash with the marketplaces. there's new legislation cracking down but the kirk's are one step ahead of you, they're very smart and they change serial numbers on products, is organized crime so it's very difficult to track the goods at the end of the day and there is a multitier distribution system the person who stole is committing a crime and they sell it to somebody who knows it stolen but they sell it to someone who does not know it was stolen and the person appointed on the marketplace. it's not as easy as it might seem at first glance but that's

why we need more money and more focus, it's like fighting any organized crime, that's what it is. maria: there are not consequences for the folks doing well of the ceiling that is what are the issues that they know they can get away with it. >> that is right here's a case they say don't do the crime if you can't do the time here there doing the crime and not doing the time the getting away with them. local prosecutors, legislatures say it's nothing it's petty theft let them get away with that they need to feed their family. you don't need to feed your family with an ipad over lululemon. this is organized crime, these stores cost millions of dollars to build in case of target and walmart over $10 million just up at the store there this is not a small consequence for the community or resellers or anyone within the ten commandments thou shall not steal. maria: before you go that beget

your sense of where we are in the macro story consumer spending we are a week and a half from third quarter reported earnings we will see what businesses have to say about what they think about the fourth quarter in 2024. how does the holiday look to you and what you see in terms of consumer spending right now. >> i've known you a long time and you know i'm an optimist, having said that were headed towards a difficult holiday season. when you strip out inflation, retail sales of physical products and things have been negative for 11 straight months. i expect that to continue, people say the consumer is healthy but i don't know what they're talking about they point to the services number. most of that service increase is not cruises and hotels and restaurants eating out. most of the increase people having to pay higher rent or higher medical bills, actually the consumer is getting more leverage and the debt has increases, defaults have increased in with the student loans come due it is not looking

great frankly for retailers to sell products for the holiday season. maria: what a sad situation in terms of what were looking at as interest rates go higher in oil prices are an issue. thank you very much for weighing in on that, good to see you. >> my pleasure. jerry storch [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever.

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maria: welcome back, one thing you need to know ahead of next week out of your wildest dreams to go to the new york jets game versus the kansas city chiefs this weekend ticket prices are soaring after word got out that taylor swift may be there supporting her rumor flame in the city tighten travis kelce, the best available price of

tickets jumped to $289 a piece on ticketmaster spiking 71% wednesday after an nfl insider reported that taylor swift would be at the game on sunday, diehard fans shelling out in hopes of catching a glance of the megastar we will get to the update on monday "mornings with maria" 6:00 a.m. to 9:00 a.m. eastern on fox business. i will see you at 10:00 a.m. on sunday morning on the fox news channel for "sunday morning futures". i have exclusive interviews with house ways and means committee chairman jason smith, 2024 presidential candidate for governor ron desantis and breitbart news editor alex marlow join us for those exclusives, that will do it for us for now. thank you for joining us. i hope y barron's roundtable sponsored by global x etfs.