40 million borrowers that is a lot of money consumers will not spend in stores. carleton: it probably doesn't bode too well for retailers. give us a stock pick. >> i'm looking a alphabet this is a bad month, last month s&p down 3%. alphabet is up 1%. the strength tells you there's something going right, earnings don't come out until october and i would watch their cloud business to save his getting an a.i. boost. great ideas, thank you. to read more check out this edition of barron's.com. don't forget to follow us on x, formerly known as twitter. that is all for scu next become "barron's roundtable". >> from the fox studio in new york city, this is "maria

bartiromo wall street". maria: happy weekend, welcome to the program that analyzes the week that was in position you for the week ahead. i am maria bartiromo. lawmakers on capitol hill are trying to find a new speaker of the house, all congressional work has been halted until a new leader is elected. candidates are speaking out against the move by a handful of house gop to oust kevin mccart mccarthy. >> it's not helpful and it does not help us focus on the issues the everyday voters care about. >> chaos is never america's friend. >> he gives people more of a concern about her party being a governing party and that is bad for all of us. maria: one candidate vivek ramaswamy was a different tone. >> the point of removing the house speaker was to so chaos. the real question to ask, let's get to the bottom of it whether

chaos is really such a bad thi thing. >> there are many names being discussed when the house replaced mccarthy jim jordan in steve scalise. some gop house members are nominating former president trump for the position. the former president has endorsed jim jordan for the speaker but open to serving in the role for a short period of time if needed to provide unity in the party, joining me 2024 republican credits under presidential candidate vivek ramaswamy. thank you very much for joining me this weekend. what did you mean about chaos and the race for the speaker. >> i like to find the silverlining opportunity and every juncture for this community. the fact of the matter is $33 trillion national debt and growing. a border crisis at historic proportion and growing dependence on our enemy communist china for the modern way of life and if that is the status quo i think a little bit

of chaos could be an opportunity to get our eye back on the ball instead of short-term bickering. i think the republican party obsesses too much over the question of who, kevin mccarthy or somebody else, ronna mcdaniel or somebody else, donald trump or somebody else instead of focusing on what or why what do we stand for and why do we stand for. what i would like to see is a refocusing on the substance of the issues that we actually face and neither party has done a good job of addressing and that would be the positive that i will help hopefully see come out of this. maria: one of the important issues that voters care about is a wide open border we had a startling u-turn from the white house, president biden says he has no choice but to go ahead and build 20 miles of border wall and southern texas because of funds appropriated for he took office. on the same day he said that the department of homeland security alejandro mayorkas wrote a statement saying there is

presently an acute immediate need to construct physical barriers in the vicinity of the border. now he says the administrations policy against building a wall has not changed. a lot of flip-flopping going on. how do you see it? >> purposeful deflector by the by data administration. it's interesting the same policies when trump uttered the same words were racist and xenophobic, now that it's become an electoral liability for the by data administration the company around to the other side. the fact of the matter, the wall is now not enough the wall is necessary but not sufficient. the cartels are building cartel tunnels under the wall vehicles are able to drive through the right border policy is to use our military to seal this swiss cheese of the southern border. and more important leaving the incentives for people to come here illegally, eliminate federal funding for sanctuary

cities, eliminate foreign aid for central american countries until they dealt with their side with the border crisis. i stand by my policy to end birthright citizenship for the kids of illegal immigrants who entered this country unlawfully that is the steps that we're going to have to take if were really serious rather than virtue in august signal. maria: and must be that the white house is so scared of the 2024 election that they're changing the policy. it's one of the first things that the he said no border wall when he first ran for president. sure enough there building the border wall. >> i think it's a step in the right direction it's a little too little too late given the crisis that we seen in this country. unless focused on slamming biden because we can be doing that all day and still not have enough to point out the hypocrisy. i'm focused on what we need to do for the country in eliminating the incentives that

is the best border policy, combined with the military to seal the southern border that how we will solve this problem in the first few months of office if i'm elected. maria: let's talk about that. president trump is obviously far and away the leader in terms of the primary so far. what is your path to victory. >> unlike the other candidates i am not focused on criticizing or slamming trump on monday morning porter backing an individual decisions he made. i acknowledge president trump was an excellent president the greatest one of the 21st century and i stand by it. i have something he does not, i am young i have fresh legs and from a different generation. i think we have a crisis of national pride and national identity in young americans. 60% of young americans say they would give up their right to vote then to give up the access to tiktok. that is a crisis in our country and because i'm 38 years old in a different generation i reach

the next generation and reunite the country. that's how we take our america first agenda to the next level. i will honor donald trump's legacy because it's the right thing to do but i lead the next generation which is vital for the next president to accomplish. maria: one of the generational issues is climate change, going green, the president's agenda is all about climate change. that has meant fewer jobs in the auto sector. this week another strike the largest healthcare strike in history. a widening autoworker strike that cost the u.s. economy $4 billion in the first two weeks alone. continuing negotiations around the coordinated hollywood strike that averted cost the california economy more than $5 billion. the unions are obviously emboldened, what is your take on all the strikes and will the economy ultimately paid the ultimate price? >> i don't have a lot of patience for the union bosses

you are using their workers as political pawns just like president biden is, i have a lot of empathy for the workers and here's why we have a triple whammy flailing on the economy right now, rising prices and inflation, rising interest rates with rising mortgage rates to buy a home against the backdrop of stagnant wages for workers across many sectors. that is a formula for deep frustration. the real picket line the real strike for individual employers it is against president biden and the disastrous economic policies of this administration. can we fix it, absolutely, unlock american energy, drill, frak, burn coal embrace nuclear energy. put people back to work by no longer paying them to stay at home. a big obstacle, you put your finger on it is the climate colt that chuckles the united states while leaving china untouched. if were serious about unlocking our economy in a free serious about declaring economic independence from china becoming

competitive versus china we have to abandon the colt in the united states of america and say american exceptionalism is about american flourishing and that's i will lead this nation forward. maria: weaker than expected wages on friday with the job number. we will talk about that next. good to see you. thank you very much. vivek ramaswamy. a huge surprise in the september jobs report what it means for the economy and the federal reserve's next

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is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works. maria: welcome back. look at where markets ended the week whereupon rates stretch to new highs with surprising numbers on jobs. a huge jump in the number of jobs created and added to the economy next month. 336,000 jobs added compared to the estimate of 170,000 unemployment ticked higher to

3.8%, georgia be payne capital management president ryan payne an interest president and chief market strategist lou basenese. what did you think of the job numbers. >> stocks are supposed to love jobs but they don't this time around. it is a resilient job market when i grow up i want to be an economist, you can be wrong all the time. the reality it creates a conundrum for the fed, they want to stop raising rates but they cannot if wages and jobs growth is still strong, you cannot do it in your teetering at a certain point we're going to hit a rate level that tips the economy into a recession. maria: that's what the market sold off after the numbers, the great job number although wages were not so great. the market sold off to a point right after the date on friday. they think the fed is going to raise rates in november. >> not too hot not too cold lots of jobs created but your wage growth was moderating. that is the bigger story we had huge wage growth last year that put a lot of weight on the

economy. i think what is going on now wages are starting to come down and cool off a little bit and inflation is still cooling off contrary to belief it is still coming down in the cpi number week or next month is going to be pretty good. maria: we are waiting to see where it goes we were up at cpi at 9.1% is obvious away down from there. there's so many areas of the report and consumer price index overall that are still elevated. look at food, look energy, wheel came off the highs. talking about $90 a barrel. >> is up 30% in the last month and a half. that's another inflationary pressure that keeps the fed but we have to raise rates and keep them higher if oil stays higher we know what will manifest in gas prices and drive inflation higher. it is tough i think the market will be completely volatile because nobody strategist were wrong this year they were predicting the downturn of the stock market and intimate recession in the best six months to the start of her we have to readjust or we're going to miss

another big call so you get the volatility on strong data good economic data, no one should want a recession. maria: we are still responded expected a slowdown. i spoke with jeffrey gundlach and he said things are slowing down he's expected to recession in the first half of the year. here's what he is expecting on jobs. jeffrey gundlach. >> jobs have been pretty abundant in the unemployment rate is low but it is not falling any longer. if it goes up even a few tenths of a percentage point it would be in a context historically that has never avoided a recession. when unemployment rate goes up from the low by only one half of 1% or more there's been a recession every civil time. maria: your reaction. >> i'm not buying the recession talk, i get up at the strong number that we saw when it comes to the labor market i think it's going to continue to stay strong we have a labor shortage in this country and i think you have

immaculate disinflation, the shelter cost, that is a lag in the cpi number and that will get factored in lower because we know real rents are down from the high and you will see those numbers keeping moderating over the next quarters. meanwhile let's face it wages are not going down to get us a relatively strong. you have accommodation in the next year end the fed has wanted half gdp growth, i think that is correct. maria: how big of a problem or the interest rate, tenure yelled up to 4.8% close to 4.9% on friday doesn't that give an investor in alternative maybe they don't have to be in risky stocks or fixed income it is safer. >> you would be irrational not to get paid the way in treasury but this weight you get paid and speculate intelligently in areas of the market that are pulled back, were talking about the xpi index those are companies that are not going away because providing necessary essential

services, life saving drugs. if you get into small-cap market, bargain bin at 22 your discount to large-cap. the recession i think everyone is focused on when the next recession hits and they should ask the question how long will that last we know recession is going to come eventually, how deep and severe. we look at patent filing activity is a leading indicator of economic activity into the pandemic patent filings did not decrease they stayed steady and continue to increase that means innovation economy never stops there innovating in building the gdp coming in the future. maria: great to see you both. thank you so much. ryan payne, lou basenese. white house against household appliances. homebuilder saying it could dive up the cost of new homes. mortgage rates 23 year highs. seven and half% on the three something unexpected has arrived from experian.

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maria: welcome back the latest battle on bidens were on appliances. new restrictions this week. targeting gas powered furnaces. after the glowin growing list of appliances they want you to get rid of and the push to reduce greenhouse gas emissions, the association of homebuilders warning regulations like these will add more than $30000 to the cost of new homes. >> what it takes eight months to build a home with a government that is constantly changing the rules or adding new regulations it is kind of like walkable and the cost of new home impacted by the regulations that go up and up. at the end of the day it's homeowners paying the cost for the new regulations. maria: joy to be the ceo ara

hovnanian. >> do you agree with the sentiment as receive regulation of the home price will actually take up. >> there's no question about that, regulation in a variety of ways has impacted cost in this will be no different there is no free lunch in a little more energy efficiency cost consumer something right now. maria: in terms of the appliances, the administration is trying to put a chill and buying a gas powered stove, now we have the furnaces that are also washing machines a list of light bulbs, ceiling fans, it is incredible, do you see reaction when you meet with and talk with homebuyers or potential homebuyers. >> certainly is an unfortunate time to be introducing this because cost are so high for consumers right now. interest rate are obviously skyhigh they were 3% at the

beginning of last year 7.5% now. inflation with the cost of housing. monthly payments are much less affordable. and adding one more feature is going to be expensive. we build above the current requirements we are way more efficient and we care about the environment there is no question but there is no free lunch and some consumers will not be able to qualify based on the higher cost. perhaps the public good with this but maybe there should be a public credit or something to help the consumer afford during some transition. maria: it makes sense. i would get your take on the market, mortgage rates climbed to the highest level in 23 years, look where we are in the 30 year fixed rate under 7.5%,

the dragging mortgage application to the lowest level since 1995. do you see a pattern when people see their mortgage rates at 7.5 percent and their interest payments on a monthly basis go higher as a result of that are they walking away from potential bias? >> first put things into perspective i started full-time in 1979 and mortgage rates 30 year mortgage rates rose to 18%. so we have dealt with this environment before. it's a roller coaster recently and there is no question when rates went up at the beginning of last year. he did not have an impact at the beginning about halfway through the year end had a huge impact in customers held offer a moment. by the end of the year expectations start adjusting and people started thinking i do have to move, my housing needs have changed and they swallow

hard and say this is good to be the rate i'm going to buy and this is what's been happening. it's not the same boom of the surge and covid or even at the beginning of last year but it is a reasonable level right now. consumers have adjusted the expectation. maria: how long will this last you seen plenty of cycles before we were talking about the jobs numbers probably going to be no hiking interest rates but the federal reserve does that mean the mortgage rates stay elevated. the cycles last several years you've seen plenty of them. how long would you expect is evident half percent or higher mortgage rate to last? >> that is a good question the million-dollar question, the one helpful thing for our industry is that existing homes available for resale are at record lows normally there are 2 million homes available for customers to choose from to buy a used or

existing home, right now 960,000, there is a shortage available of choices that help us. maria: how would you assess the market today. >> not as good as it was in the covid surge better than last year if i look at sales across the industry in the competitors out there i would say what i see is better than last year were sure but it was an easy comparison closer to more normal. what will happen soon is hard to tell. maria: good to have you. thank you so much. ara hovnanian joinin (♪) in this clinic, we pride ourselves on putting others first. it's on us to help care for our clients' well-being; to help them adapt. it's inspiring to work at a place where our patients succeed.

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one thing you need to know ahead of next week. shopping around will be less expensive week with the biggest savings on the year on the way. walmart holiday kickoff and amazon prime day are going head-to-head, mega retailers offering flash sales and major deals from technology to clothing to twice. walmart started the discount on monday. amazon launches a day after. we will follow it all on "mornings with maria" 6:00 a.m. to nine eastern every weekday. i hope you will join me and i'll see you sunday morning on 10:00 a.m. eastern for the fox news channel "sunday morning futures" program. i have exclusive interviews with house judiciary committee jim jordan, byron donalds and fbi agent stephen friend and nicole parker. join me sunday on fox news for "sunda i will do it on fox business, have a great rest of the weekend thank you for joining us, i will see you next time. >> "barron's roundtable" sponsored by global