Maria happy weekend to all. Welcome to the program that analyzing the week that was and helps position you for the week ahead. Im maria bartiromo. The first ever debt default and republican lawmakers are fighting for more. Startling new report for millions of taxpayer dollars have been funneled to adversaries for frivolous projects like cats on a treadmill in russia and gender equal fio awareness in china. 2 million sent to wuhan lab of firrology and senator marshal virology and we rendition of anthony respond to respond to this and what the feds say about that. The race to 2024 getting more crowded and mike pence and Chris Christie are expected to jump into the race next week. Carl rove is here with how this could play out. Debt default drama behind us with a bill passing the senate and house passing the senate late thursday, Senate Majority leader Chuck Schumer was quick to take a victory lap for democrats. Nobody got everything they wanted. There was give on both sides, but this agreement was a very good outcome because it accomplished three extremely important goals. We prevented a catastrophic default, the bill reserves the lions share of the historic investments weve made to grow our economy. We did a very good job of taking the worst parts of the republican plan that would have hurt so many families. Maria joined by kansas senator Roger Marshal. 31 Senate Republicans voted against this bill. Senator, good to see you and you were one of those no votes. Tell us why you voted no and what your priorities are Going Forward to push and get what you didnt get here. Right, maria. Number one, i want to compliment speaker kevin mccarthy. He did a great job. Americans need to realize that he only controlled just about onehalf of onethird of the levers of the government that handled the appropriations process and he got as much as he could get, but not enough for me to be comfortable with it when i read the fine print. At the end of the day, this still was add 1. 3 trillion for debt for my grandchildren. Number two is the work requirements we wanted really evaporated in the fine print and finally the Regulatory Reform was dust in the wind. It was such thin dust that even joe mansion had to get a special mountaineer kick back to get the pipeline. Not enough to get there and my part Going Forward is address the number one concern, number one threat to our National Security, and that is our national debt. By the way, there was no funding in this to secure our border. Maria thats something that really struck me that theres no money for the border. Why is it that the border is not seen as a National Security threat given the wide open situation and what were hearing every day from human smuggling to drugs. Can you do anything about that . And then theres the irs. Kevin mccarthy said that was going to be one of his big priorities, but we didnt rescind much of that 80 billion, did we . No, not much. Not enough to make any type of difference but again, Everybody Needs to understand is that joe biden wants an open border. He wants 10,000 people being apprehended every day and wants 3,000 got aways every day and that is his goal. Thats what he wants. He wants us to be watching all these problems, meanwhile hes attacking our Civil Liberties as well. So they do have a master plan. Its tearing down our nation right now. Im going to do everything i can to fight back against the national debt. We need to secure our borders and go back and protect basic Civil Liberties. Maria its unbelievable the difference in priorities and joe biden wants to hire 187,000irs acts to look under every rock and raise revenue and taxes on people to do the audits and meanwhile how many Border Agents do we have . 10 or 15,000 right now . Again, 90 of the board agents are being babysitters and not doing their job. Theyre so overwhelmed theyre being social workerers and nurss and we offered an amendment to pass on the senate side what the house passed to secure the border and add 20,000 Border Patrol agents as well to secure the border by more funding to build the wall as well and more technology and basic equipment it would take to secure the boarder and should be a huge priority and you pointed out the border is the number one immediate National Security threat. The debt, the long term, the border the immediate threat. Not to mention the 300 Young Americans that die every day from fentanyl poisoning. Maria yeah, that amendment made a lot of sense to me. I want to get your take on another big story. Your colleague joanie ernst said that unit spent 1. 3 billion of taxpayer money to russia and china over the past five years. The report identifies 870 million paid by federal agencies in funding and grants to entities in russia with another 490 million paid to chinese organizations between 2017 and 2022. Now senator ernst said its gravely concerning that nobody in washington can account for the millions of dollars isnt to china and russia for the projects. Cats on a treadmill in russia, really . Really. Compliments to senator ernst for doing a good job and nibbing gallagher would be a great senator some day nor exposing in and this is the tip of the ice burg and weve been trying to iceberg and weve been trying to follow the money. They exposed that the American Government paid our adversaries 1. 3 billion for studies as you pointed out, cats on a treadmill that the ultimate sin is funding the Wuhan Institute of virology. This is first of all, they used ecohealth, which is out of compliance with other grants. This is where the covid19, sars cov2 cyru2 virus was made d were throwing money at people that killed millions of americans and doing more research on bad vie suspended aviruses thisless than safe pla. You cant make this up. Maria its unbelievable and worse than the leak out of wuhan, they cover it had up, senator; right . We cant even get an investigation into the wuhan lab to find out exactly how it leaked. The Chinese Communist party wont allow it. Exactly. Thats why we need a 9 11 style commission. Get it outside of washington. Weve introduced legislation last congress, this congress with bipartisan support that would do an indepth dive into this. The preponderance of evidence shows this virus was made in a lab in wuhan, china, and as well as accidently leaked. I think that if we could get in front of a jury, we could prove that on a civil case as well. But we need to go deeper and phygoyuri colins out exactly figure out exactly what they did and how and with u. S. Taxpayer dollars. Can you believe it . Maria unbelievable. Really incredible. Senator, thank you for all your work and leadership. Well be watching. Thank you, sir. Thank you, maria. Maria Roger Marshal in dc. A block buster jobs report Health Heading into the federal reservings next meeting on Interest Rates but there are concerns. Kenny polcari is here on the details and impact on rate hike decision on the other side of paradontax blood when you brush could lead to worse over time. Help stop the clock on gum disease now. Parodontax toothpaste. Is 3x more effective at removing plaque bacteria, one of the main causes of bleeding gums. Parodontax. The gum experts. Maria welcome back. Heres a look at how markets ended the week after the debt ceiling passed the senate and we got a blowout jobs report, 339,000 jobs were added to the economy in the month of may. Much more than expected and revisions to march and april also added an additional 93,000 jobs, but the Unemployment Rate moved higher to 3. 7 . Joining me now is slate stone wealth chief strategist kenny polcari. Kenny, great to see you and thank you for being here. What a week we had, the debt ceiling passed the house and then the senate and then got a blowout jobs number. How do you assess investings today in the face of all of that . Listen, im glad we finally got through the debt ceiling because that was a lot of noise. None of that was ever going to come true as much as they tried to create the angst with the inflammatory adjective and all that. But it was just noise. Its behind us and thats positive and i guess thats good, but the strong adp number and strong nfp number really was a surprise, i think, to a lot of people considering the nfp number was so, so strong and the only thing in that report that i think makes some sense and maybe why we saw some strength going into the trading day was the Unemployment Rate ticked up from 3. 4 to 3. 7, which was significantly larger than what they had expected and wages actually while they rose 4. 3 , that was below what the number called for 4. 4 and down from 6 so that is moving in the right direction so im trying to make sense of this that investors are, you know, getting more comfortable with where we are. That the fed is in fact becoming successful. And, look, theyre talking about now skipping the hike in june, which is a new narrative, new word in the narrative and talking pausing and now its a skip, which would suggest that were going to bypass this one but were not necessarily cutting but were not necessarily going to stop either. Three ya theyre going to maria theyre going to skip into july and raise rates in july. Kenny, what does all this tell you about the macro story and talking about a recession for so long and earnings estimates needing to come down and a market thats going to be reacting to a slowing economy. As soon as you got that jobs number out, markets rallied huge on friday. Whats your take in terms of the second half of the year on the macro story . So, listen, it is a little bit confusing because i thought by now in june or july, wed see a more significant slow down. Maybe were seeing with the Unemployment Rate ticking up because you know economists suggested that rate has got to have a five handle on it in order for the fed to be successful and if thats the case, then you will see a real slow down, but right now i think the market is just focusing on a soft landing all though i still dont think well get one. Thats going to kind of get people anxious to get their money back invested. There are a lot of people that were expecting that slow down early in the year and had gotten out of the market and then the market keeps going higher and higher and the news gets a little bit better and better. We saw 7 billion come into the equity market last week according to bank of america. They told us that. I think it all went straight into ai or nvidia. It was crazy the way weve seen. One way or another, im in that camp while i think we have some potholes in front of us, i do think that the trend is going to be higher. Will it be much higher . No, were right about at the top for the year so if we pull back and then we move back into this range at the end of the year, its where well be. Maria nasdaq is up 25 year to date. Kenny, would you put new money to work in stocks right here . I am and not putting new money to work doing nasdaq names and thats overweighted in the portfolio because of the performance and new money im putting in the sectors that have been unloved so im looking at energy, im looking at healthcare, im looking at financials to put new money in because im not out of the market. As a longterm investor, i want to remain in the market but its a matter of balancing it and having a good solid portfolio that will ride out the storm. Maria got it. Kenny, great to see you and have a great rest of the weekend. Thank you, sir. You as well, bye bye. Maria kenny polcari, the republican primary field growing even larger next week. How will it affecting rate for 2024 . Karl rove is up next, hell join me, stay with us a third kid. What if she likes playing golf . Its expensive. Were outlawing golf. Wait. Can i still play . Since we work with emower, we dont have to worry about planning for a third kid. You can still play golf. Sometimes. Take control of your financial future to empower whats next. New projects means new project managers. You need to hire. I need indeed. Indeed you do. When you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. Visit indeed. Com hire and get started today. When people come, they say theyve tried lots of diets, nothings worked or theyve lost the same 10, 20, 50 pounds over and over again. They need a real solution. Ive always fought with 510 pounds all the time. Eating all these Different Things and nothings ever working. Ive done the diets, all the diets. Before golo, i was barely eating but the weight wasnt going anywhere. 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Front runner Donald Trump Holds a solid double digit lead in the polls over all of the candidate sos far. Dozening change with pence and christie jumping into the race . Joining me now to break it all down and joining me is deputy chief of staff, karl rove, thank you for joining and yous being with us. Thanks for having me. Maria how do you think christie and pence jumping into the race changes things for 2024 race . Well, first of all, set the structure of the race and front runner donald trump, former president and he does have a big lead in the polls but remember, these polls are relatively meaningless because theyre National Polls and theyre more indicative of people knowing more about donald trump than they know about any of the other eight people who are jumping into the race or have are already in the race. But hes the front runner and hes in a category by himself. Then theres a competitor. Somebody who has been widely acknowledged to be a threat to donald trump including by the former president himself and has the resources needed to run this campaign through the early primaries. That would be Florida Governor ron desantis. He too is in a separate category and hes a contender. Then theres some wannabe contenders and have records and messages that allow them to maybe become a contender and those are nicky haley and tim scott. One is the former governor of South Carolina and one the sitting United States senator. Then two other candidates in the race, Asa Hutchinson and Vivek Ramaswamy who want to be contenders but theyre going to face a real uphill fight because they have to get into the debates and to get into the debates, they likely have to have 40,000 people contribute to their campaigns. Vivek has personal resources and asa is the former governor of arkansas but its a real uphill fight to get into the debate and without getting into the debate, theyre not going to be able to be a contender. Now we have this week, three candidates thinking about jumping in the race and appear likely too. Former Vice President mike pence, former new jersey governor Chris Christie, and sitting north dakota governor doug burgum likely to get into the race. All three are going to have to get 40,000 donors in order to become contenders in this race by being on the debate stage in august when the first debate is held. Likely to happen for pence having been the former Vice President and having an indiana base. Likely to happen for Chris Christie. Going to be a bit more diversity cult for difficult for doug burgum because north dakota doesnt that have many people and his base to draw is pretty small. All three will enter the contest and the first two in particular will have a chance to jump into the middle of the race. Burgum in a very articulate and attractive candidate has to jump on the to stage in a way that nobody really knows him outside of north dakota. Maria what happened to ron desantis . So much optimism early on and fell in the polls before officially announcing. Well, i think that had to do with the with how things are this time in the race, which is that when he was doing well in the polls, he was in the immediate aftermath of the november election and it was a shock to a lot of people. Heres a guy that barely won the governorship of what has historically been a purple state four years ago, five years ago, almost five years ago now. He runs for reelection and wins by a blowout and not only wins by a blowout and defeats a former sitting governor of the state, charlie crist. There were a lot of things that moved and happened for him and they tend to move in the other direction and just as he rose simply on the basis of geez, that guy got an elected governor in a purple state by a big margin and thats a strong conservative and he began to decline when people said thats all i know about him at this point. I wouldnt be surprised to see these polls begin to tighten in the months ahead. Thats just the nature of things as people learn me about who the candidates are and see them on the campaign trail, they tend to do either better or worse and i suspect hell do better. Maria interesting that donald trump gained in the polls after the manhattan da indictment, after a raid of maralago. People are looking at a twotiered system of jus it is i assume. Justice i assume. One minor correction. I think he gained mightily after the manhattan da went after him because it generally looked like it was an overreach and a lot of legal scholars on the left and right were critical of the manhattan da for overreach. Maria real quick, President Biden is avoiding the campaign trail all together. Out in public you have incidents like this one where he tripped and fell over a sandbag. Really, a sad situation to watch. The commander in chief gal like that fall like that and better for him to stay hidden . Well, i think this is how theyre going to try and do a modified version of the campaign of 2020 from the basement. Theyll have to. Step back for a minute, weve had two polls here, the fox news poll and the other poll in which majority of americans say one of two things, hes too old to be president and hes not a strong leader. Those two things are deadly. Who thinks hell look better in a year than he does today . What makes us think hell be more agile and more youthful and that hes going to be able to avoid the sandbags like he did air force academy. Who thinks hell look young fertilizer a year . Similarly who thinks hell look stronger . Hes had 3. 5 years to 2. 5 years in order to develop a sense of who he is as a strong leader and utterly failed at it. The deputies would be better off in my opinion in recognizing that they run a very strong risk of losing the election in 2024 with him at the top of the ticket because he is too old and is not a strong and effective leader and better off finding somebody toles be their candidate. It is astonishing to me that weve not seen more from serious elements inside the Democratic Party talking about how they need to get somebody fresh and new. Robert kennedy jr. Is drawing 20 of the vote in the polls. Nobody knows anything about him except his name is kennedy and he has a jr. After it. Thats a sign of weakness on the part of the sitting president. Maria yeah, and the democrats do not want to debate. Its bide and thats it. Conversation ended. Karl, great to see you. Thanks so much. Karl rove joining us on 2024. Ive got one important thing you need to know about ahead of next week and thats next and i remember kind of thinking like, oh my gosh, i think we could be sisters. Because i think we looked. Yes. Right. Yeah. And i dont think at that time i think youre the one to tell me that we had the same birthday. Yes. Its really unbelievable when you think about it, because its been, like, really over 20 years that you were my mother and fathers banker, you became my banker and now fran is in her third year of college and youre her banker. Its so unbelievable because im just 20 years old. [laughing] tourists tourists that turn into scientists. Tourist taking photos that are analyzed by ai. So researchers can help life underwater flourish. You got this. Lets go. Gobble gobble. Ive seen bigger legs on a turkey rude. Who are you . Im an investor in a fund that helps advance innovative sports tech like this Smart Fitness mirror. Im also mr. Leg day. 1989 anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq100 innovations. I go through a lot of pants. Before investing carefully read and consider Fund Investment objectives, risks, charges, expenses and more in prospectus at invesco. Com. The day you get your clearchoice dental implants makes every day. A lets dig in day. Mm. A chow down day. A take a big bite day. A perfectly delicious day. Mm. [ chuckles ]. A love my new teeth day. Because your clearchoice day is the day everything is back on the menu. A clearchoice day changes every day. Schedule a free consultation. Maria welcome back. One thing you need to know about ahead of next week, apples anticipated announcement. The worlds most valuable company host ago big conference on monday, which already has fans buzzing, a promotion of the event giving which yous to potentially groundbreaking product releases. Well be keeping an io eye on it and report all thats happening on mornings with maria at 6 00 a. M. On fox business. Over on Fox News Channel on sunday, 10 00 a. M. Eastern on Fox News Channel for sunday mornings futures and exclusive interviews with House Speaker kevin mccarthy, Ranking Member mike lee, congresswoman anna paw lynna newman and Newt Gingrich with me sunday at 10 00 a. M. Thats it for us here on fox business. Have a great rest of the weekend. Thank you so much for being with me, and ill see you nex
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