businesses now would be the time to maybe look at acquisitions or doubling down or -- but they seem to have bought more or less to the top with everyone else. thank you. we appreciate it. >> thank you. that does it for "the exchange." "power lunch" begins right now ♪ kelly, thank you welcome to "power lunch. on a busy friday afternoon, stocks are heading for their fifth straight down week as the russia-ukraine war drags on. vladimir putin saying there's positive signs in some peace talks but what does that mean? can you believe him? and as the war has sent gasoline prices to the stratosphere, record highs, electric vehicles look much more attractive.

is the infrastructure ready? we'll ask the president of blink charging >> hi, everybody thank you. welcome to "power lunch. dow up 6 points after being up 431. nasdaq down 160, it was up 100 at the open this morning s&p down about 18 points down about just under half a percent. take a look at facebook known as meta dealing with cue rating with the russia-ukraine conflict. netflix down 3%. adobe down almost 4% today a couple worst performing stocks in the s&p 500 this year what's working burgers, burritos and beers. the optimistic statements that gave -- from vladimir putin that gave an early boost that's faded

now. let's get to kayla tausche for the latest kayla? >> i think the market realized quickly that talk is cheap and a sense that vladimir putin may be open to some sort of compromise was negated by the situation and the facts on the ground. with more potential false flag operations for escalation and to blame ukraine for that from missiles firing into belarus to new concerns of use of chemical weapons. the ministry of form affairs tweeting that radical ukrainian groups prepared scenarios to blame russia so they are clearly trying to set the stage to point the finger for ukraine for whatever comes in that arena president biden warned russia to pay a severe price using chemical weapons without elaborating and unveiling the

measures to rarp up the economic cost for putin in a message to house democrats later today in philadelphia he said russia's economy will never be the same. >> moscow's stock exchange is closed why? because for the last two weeks the moment it opens it will be disbanded. you hear me? it will blow up. >> yesterday after failed cease-fire talks in turkey russia's foreign ministry said a decoupling of russia with the western economies is something that russia would be open to and never again want to be dependent on the west and the companies for russia's prosperity. kelly? >> all right thank you, kayla. is putin capable of wanting a truce or is he intent on bringing ukraine back into russia let's bring in melinda herring,

she lived in ukraine and taught english for several years. it is hard do get in the head of vladimir putin but everything i know, including that long rambling article he wrote not so long ago about russia's imperatives toward ukraine would tell me he is not ready to stop. >> you got it exactly right. vladimir putin has been the same man as angry at the munich security conference in tw2007 ad clear that ukraine is not a real language or country and my russia lands sit in ukraine. vladimir putin is in no mood to negotiate and this talk about progress in negotiations is completely false it is nonsense the ukrainian cs came out and si

there's no room to negotiate. >> what explains his ability to do things that are truly inhumane by any standard are atrocities is it that he does not care and a thug born and bred of the kgb theory and will apply whatever force is needed to bring his goals together >> tyler, i'm not a psychologist but when i look at what vladimir putin's doing i was one of the analysts that thought he would go in and the reasons are pretty easy to understand putin is an old man and he's thinking about his legacy. and he wants to go down in russian history as a great russian president an endo that by taking a big swath of land. he also saw opportunity everywhere weakness everywhere. europe, united states, ukraine never a better moment to go in does he care at the needs of

others clearly not. look at chechnya in the 2000s. >> what do you think of the fact that united states is not looking at a response? >> i think that's exactly right. so i was really worried when vladimir putin threatened to lob nukes at europe. i talked to some more experts saying that he is not doing the things to do he hasn't done anything other than threaten. we should ignore him and focus on the war and making sure that ukraine can get the weapons it needs and the refugees can leave. that's what we need to focus on. ignore vladimir putin's empty threats. >> i asked an intelligence official if there was any way that putin would be taken out from the inside. in other words, was there a possibility that his generals or

his intelligence apparatus might turn on him seeing what damage is being done to russia on the world stage. he said, no, very, very small possibility of that. do you ever any insight on that? >> that's right. the circle around vladimir putin is very small and all at least 58 an older crowd and allmembers of the security apparatus. it would be very, very hard to get into that circumstance wl a weapon and it's a one in 100 or 1 in a 1,000 chance we cannot place our security and hopes on that. you have to place the hopes on the russian people and talk to them directly and assume that we can change their haeearts and minds. >> how do we do that if he controlled information flow and probably shut down instagram because they have allowed anti-russian messaging to be

fomented on their site how do we get to the russian people >> i'm so glad you asked that question we need a russian language cable television station with people who know how like this station and in the russian language in russia we haven't done enough a few million dollars for a three-year project won't do it big money. there's television producers in washington who knows how to do this congress needs to put real must be behind this idea. >> that's a thing featured in that ukraine on fire documentary talking about u.s. and cia efforts to go into the countries and create information and tv stations to stage what to the leaders looks like covert disinformation campaigns do you think that would be successful in sort of

demonstrating that the u.s. is trying to be a force for freedom and for good or become confused once again with meddling and repeating perhaps errors of the past >> no. it has to be done. it wouldn't be just a u.s. funded television station. you would get the europeans as well there's massive demand within russia for real information. after the first week the bbc russian language service had the numbers triple people want to know what's going on i would inspector general noefr the claims the kremlin will make and build it and build it now. >> how do get it distributed there? >> that's a piece of cake. you get people who know how to build stations and you beam it in this is not the hard part. the hard part is getting the money and building compelling

television to speak to the return people. >> thank you we thank you. i want to pause and share something that i heard last night on the bbc it was a really, really good documentary. audio documentary called "does putin's view of history explain why he invaded ukraine?" if you want do get learned in a hurry it is on the website does putin's view of history explain why he invaded ukraine soothing the language can put you to sleep but there's a lot of very good stuff in there. >> i don't think they'll fall asleep with those details right now. the stocks under pressure. this uncertain over the war weighs on the street at the same time that the fed is

thinking about hiking rates. could happen in a couple of days let's bring in nancy tengler and doug butler at rockland trust. welcome to you both. nancy, are we ready for the rate hikes that are coming? >> i think so, kelly this has been long telegraphed my view is that the policy mistake is made and waited too long to get to this point. but i am concerned that no matter how many times the fed raises or hikes this year it will have very little impact if you look at any measure of inflation pce, 5.2%. cpi up 7.9 sticky cpi atlanta fed's model up 4.5 that's a lot of rate hikes to really put some pressure on inflation.

we get four, five, six this year it is a negative real interest rate environment i was investing in the volker years and it was ugly with cpi up in mid teens and the prime rate over 21 but stocks were up 350% we need some resolve to get out of this pickle. >> would you welcome that resolve? we know in the near term the more hawkish the fed the worse the market will react. is it an insurance policy? >> yes i think the fed is going to have to move tlooers a few times in the next six to eight months i also think that inflation is going to continue to be a problem and at the end of the year it is going to be more in the fours than in the sixes and hopefully by middle of year down

high twos, low threes. >> that said, doug, two schools of thought on this if inflation falls back towards that the fed doesn't need to be that aggressive. can't make much difference in 18 months so there's a school of thought that says why bother others look at the inflation expectations and say, they need to get ahead of this and make sure it is not more entrenched to have inflation up 5% every eye. >> i think they need a few i think earlier in the month tlft talk of seven or six. i don't see the fed needing a 3% level by next year a few is okay to make sure the hand is on the tiller but the risks are dramatic of an overshoot and tightening and wrecking the economy before it has a chance to as we reopen for

the second or third time to see so i think there's a healthy chance that the fed overshoots but i also think that likely inflation is going to flare out, probably beginning in the summertime we had huge inflation last year in the second quarter and what drives this year over year stuff. >> let's talk about where i find refuge in the market but also have some return, as well. that return can come from dividends or capital appreciation give me names that you have your eye on right now given where we are in the economic cycle. >> we are mid cycle and argue through the fog of war that investors and pmis roll over

investors return to growth and a name in the space is microsoft hitting the sweet spots for technology cap x spend why not just cloud and gaming. but a $15 billion cyber business within the company dividend growth history of i think 9% over 5 years and low yield today. we like target and walmart target is a better dividend grower approving an increase going into next quarter. a company improving the experience and digital and then johnson & johnson. this is a workhoirs in any portfolio. strong dividend. grows about 6.5% keeps up with inflation in the near term and grinds along in periods like this so i think it's a stock to buy and put away and own it for a lifetime.

>> somewhere michael farr is smiling since you mentioned johnson & johnson. thank you. coming up, s&p 500 down 10% this year but some stocks down a lot more than that could some of the same stocks be ready for a rally back we'll look at the high beta five nothing like $4 a gallon gasoline to get people interested in electric vehicles. is the infrastructure there? we'll ask the ceo of the blink charging and several insurance companies all-time high. travelers, hca at the highest levels ever.

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the fifth is electric vehicle giant tesla and probably thinking to yourself those all have a common theme. they're each a member of the consumer discretionary sector. maybe no surprise that the consumer discretionary sector is worst performer in 2022 down 17% so far this year for more on that story go to cnbc.com/pro, subscribers there can read about what's in store for the volatile names back to you. >> thank you. with gas prices surging auto deliverers we increased demand for electric vehicles. joining us now is brendan jones president of blink charging. stock down 10% today after results last night far better than last year

they did post a wider than expected loss, however welcome. >> good afternoon. great to be on. >> your revenues are growing quickly. how can charging stations are you installing motto month compared with last year or some comparison >> absolutely. looking at the quarter, as you stated the quarter was up. it was a great performance we were 224% up over prior year and then 24% sequentially over the prior quarter and that was a record breaker for the company so as we continue to see momentum build for vehicles and infrastructure we continue to perform. from a number basis, what we did is we contracted to install. 733 charging stations in q4 and continues to increase, as well

there's a direct correlation here to the automotive companies with brand new evs and effect to the infrastructure companies and the need for both infrastructure to be installed around the united states and various different communities. >> where are most of the chargers installed what kind of locations and how is it the service priced >> we install mostly in public accessible areas where drivers go typically some as grocery stores, health care facilities, parking garages in and around metro areas and then d.c. fast charmers on the highways with a quick fill and priced competitively versus on a kilowatt basis so for percent of time on the charger you get x amount of

kilowatts and varies by market. >> the fast charge can fill my quote tank how quickly >> it depends on the vehicle >> yeah. >> say you buy a porsche tie con and some highways is 350 kilowatt charger, you charge it under ten minutes. >> under that ten minutes. the amount of time to go in to a quick check, grab a coffee and come back and be all charged up. >> absolutely. >> what about the yoos of home electricity to charge vehicles i can't imagine that most people who buy an electric vehicle don't do a lot of their charging out of the home. >> it's a great question you are absolutely correct and the market is really broken up into three segments the fleet aspect which takes a

different charging and then personal vehicle which you refer to and people have in-home or in-multicharging and l2 and the overwhelming majority of the charging will take it's economically viable however, to have this ev rev luis we need convenient fueling in the metros. >> i assume that most of electric vehicles that are marketed today, a tesla or whatever it is, they would have in their computers directions to the nearest charging station no matter whose brand it is tesla has tesla charging facilities let me ask this question which is bothering me for a while. if there's a huge turn to

electric vehicles which i think this weekend more evs sold than any weekend in american history. if we turn massively to electric vehicles does the country have the electric power generation capacity to create all of the power that will be needed to power the vehicles and what will happen to electric rates >> so the first answer to the question is, remember, there's two versions of the grid in terms of production side, the energy producers different than utilities have enough capacity even at a 50% pen rate but on the distribution end we have to make sure that we restructure utilities to have the power at a fair dollar level within the market so that they don't run out. those plans are in effect.

the infrastructure build is address utility and infrastructure concerns simultaneous but the u.s., we have the solutions to that and look at this potential shift. so we see the issues in the ukraine and looking at this. and the u.s. is at the precipice of another decision. we can create energy independence and that energy independence means more u.s. jobs, more u.s. tech jobs and jobs in value added industries like producing and installing and maintain ev infrastructure so there's an opportunity here for the united states to free themselves with security and energy independence simultaneously so we have the ability to get the chargers installed. $7.5 billion from the biden administration and all the companies including blink will make used of that. the special onus on us because

they're taxpayer dollars we have obligation to do it right. >> i think you nailed somethin there and that is that consumers and corporations will lead us away from conventional energy sources eventually and toward these cleaner energy resources that we have here. that seems to be the big wave coming thank you. >> absolutely. >> i think you will be the next buyer. >> i'm thinking. going to look at one this weekend. >> doing research. less that a week away from the most important fed decision in years we'll discuss what exactly to expect plus covid two years later how much have our lives, the country, business, the health ene industry changed sinc th that's after the break stay with us

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different now. meg tirrell has a look at what changed. >> science changed we have multiple vaccines, multiple treatments of course and faster than we have ever seen in history and two years through and e mirching from the surge the work doesn't stop. this morning pfizer ceo said they'll file with the fda for a fourth dose of the vaccine here's why. >> with hospitalizations or deaths not as good but pretty good against infection this is very good the third dose and doesn't last long. after three, four months starts to wane. >> so borla saying everything changing with omicron and others continuing the work. moderna said they'd started a trial of a combination vaccine

against omicron and the original straen and committed to change the information preparing for the fall booster season. will there be a booster season we caught up with dr. fauci. he was less certain about that. >> the answer is we don't know thaiss it. we do not know whether we need a boost every year is it likely given the durn't of protection it is likely we are not done with this coming to vaccines. >> so guys, probably going to see this play out over the next month or so. we have seen israel and the u k roll out to the elderly. west virginia saying we need to do be doing that in the united states. >> are the boosters just the

same shot i got last year or a smaller dose or a tweaked version? >> right now the fourth dose that pfizer is talking about is the same shot and looking at tweaking their vaccine just as moderna is we have to hear from public health authorities around the globe whether the vaccine should be updated and kind of like with flu vaccines and see if that happens for the fall. >> do we know about side effects of the vaccine opposed to side effects of the disease itself? >> so far the safety profile of the vaccines is very well established and given to so many people and there's been a lot of follow-up. a most concerning side effect is this rare heart side effect but what has been found is that that

is more common with covid infection in vaccines than in most groups and watched very closely as are other rare side effects and the safety profile is looking very good. >> okay. good to see you. let's get to rahel solomon. >> hi. the united nations russia's ambassador accused ukraine of developing biological and chemical weapons with the support of the u.s the u.s. says that ukraine has public health laboratories and working to detect and diagnose diseases like covid-19. >> i will say this once. ukraine does not have a biological weapons program there are no ukrainian biological weapons laboratories sp supported by the united states not near the border or anywhere.

in new jersey volunteers and many people with ties to ukraine are packing donations that will be sent to ukraine including medical supplies, military equipment, clothing and energy bars. queen elizabeth met with canada's prime minister and will not be attending the commonwealth service at westminster abby on monday and officials are not saying if her health is a factor in the decision t tyler? >> thank you. is the investment landscape about to change for years? a veteran says yes andil pln shortly to explain

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welcome back 90 minutes left in the trading week let's get caught up across markets. stocks, bonds and a look at how the world of investing is changing let's start with bob pisani. bob? >> yeah. it is very tough we are sitting not far from the lows for the day down 2% for the week a little lower after president biden called for an end to

russia's preferred trading status a thing that's most important is limits to how far to push momentum in certain sectors. particularly commodity stocks. we had big moves up. chevron up 10% this week or so but most gains this beginning of this week. it is largely side woois with the stocks and a limit to how far you can make it but raking in oceans of cash the earnings estimates will go through the roof for the first and second quarters and a limit to what people are willing to pay for. same thing were material section. looking at mosaic. they make components of fertilizer a rocket ship and topped out same situation this week is tougher to move

that forward rodri russia is a major manufacturer, as well. surprisingly consumer staples have had a terrible time clorox new low today kimberly-clark new low today starbucks is off the p&g $105 eight days ago. some with exposure to europe but defensive stocks 4114 on the s&p. the low on february 24 traders don't know where to go with this and watch the technicals very carefully. stay above that 4100 level. >> 145 points above it that's the cushion thank you. a quick check of the bond market 10-year above 2% by a hair

hot inflation readings this week sending yields back above the 2% level. the fed meeting next week and the yield curve, as well oil probably the biggest market story of the week. let's go to pippa with the look at what's been a rollicking five days of trading. >> oil wrapping up a record week with price swings so big we have never really seen them before. both contracts today in the green. this is the second negative week in the last 12 prices continue to be very sensitive to the latest developments u.s. and uk announce ban on russian energy imports the group's secretary-general said politics dictate the market and have no control.

wti at $109. more than $20 off the high from monday brebt also up 3% at $112.61. earlier in the week nearly hit 140. we got the latest rig data and oil rigs at the highest since 2020 and sharply below the pre-pandemic levels. >> thank you so much. russian war, skyrocketing energy prices coming out of a global pandemic. how will it change the investing landscape? let's bring in ron insana. what do you think are going to be the long term implications. >> i'm trying to make sense of what is going on and away from the pure inflation argument about supply chain disruptions and the post-pandemic environment i was caught by something that hr mcmaster said on cnbc. the world over the last several

decades traded global supply chain security for supply chain efficiencies and now finding that we are vulnerable to interrupgs that could i think in some ways change the arc as globalization the integration of world economies, china into the wto, russia part of the g8 and now most favored trading nation status revoked >> ron, what does it mean if the world goes back to one in which there are spheres of influence or dominant regional powers that do not fuse economically the way gears come together? sometimes they grind but for the

part they work what if that happens what are the implications? >> i think that's a subject for a subsequent column because i v haven't figured out who construct a portfolio in that context but i think that's where we ire going we tried to integrate the global economy after world war ii the european common market and then expansion of global trade agreements all types of things designed to not only integrate the global economy but do so in a way that would prevent future wars and now concerned about russia-ukraine and china's designs on taiwan and if that fractures and splinters will financial assets from global integration, a focus on rueturns on investments suffer? if we do bring manufacturing

home and focus on more regional or local compacts that puts upward pressure on prices as we know from the world that our parents experienced. i think that what we are going through now is a real test of the longer term tests. >> i see what's happening here you will become an inflation hawk, aren't you >> i'm trying not to because from the pre-pandemic experience there's zero inflation. >> absolutely. >> the pandemic laid airbnb a lot of vulnerabilities in the system and now all of a sudden the relations are fraying in a more dramatic and quicker fashion than i think many anticipated. if that moves forward and not an interruption then i wouldn't say i'm an inflation hawk. you have to recognize that all the forces that were

disinflationary over 40 or 50 years will abate and change the domestic and global economy. >> for example, i think an implication of the fact that we are not going to allow and the west will not allow its to be so depend ept on china or taiwan for semiconductors or russia for oil and gas. that is going to mean probably a higher prices but it's inevitable or in the case of china medicines or furniture anything like that. >> yeah. >> right >> yeah. the only sad -- is that we are leaders in autd magautd mags anf we're short labor and population and the agreements then we have to find ways to automate to save money and do more with less in

terms of technology that may offset the pressures that could be coming down the road. >> thank you have a great weekend. >> thank you. tomorrow marks the find day -- did you know this >> no. >> final day of the federal reserve's pandemic qe purchase is powell behind the curve we'll discuss that when "power lunch" returns

on wednesday, on this program, we expect to learn the fed will raise interest rates. today, another fed milestone happens and steve liesman has the details. hey. steve. >> yeah, the federal reserve should complete today the last purchases of mortgage backed securities, putting an end to the largest quantitative easing program in u.s. history. it's the measure of how far the fed may be behind the curve that the end of qe comes the day

inflation was reported at 7.9%, a 40-year high, and six days, as tyler points out, before the fed is set to raise interest rates beginning in march 2020, let's do the tale of the tape, the fed cut interest rates to zero, began increasing the balance sheet by $120 billion a month, giving stimulus to the pandemic plagued economy. over 24 months at double the balance sheet at $8.8 trillion the $4.8 trillion came from buying $3.3 trillion in treasuries and mortgages maintaining the current level of the balance sheet until it makes a decision to reduce the balance sheet. that's expected to happen this summer traders are bracing for more volatility in mortgage backed securities and treasury market qe dampens volatility because the fed is always in there as a buyer that doesn't care about economics. the volatility might be good for wall street firms. the result, somewhat higher

rates which compensates for the volatility so markets are going to be standing on their own in a way they have not, tyler, in several years. >> all right, steve, thank you very much. for more on the fed decision, tune in tonight at 6:00 p.m. eastern time for a cnbc special. i'll be hosting, and for the first time in a couple years, i will see steve liesman in person here at headquarters remember, we'll have full coverage of the fed decision next week on the exchange and "power lunch." looking forward to that. >> there's more "power lunch" next, but as we head to break, look at the fintech names where affirm is leading the decline with a drop of more than 10% robinhood in the red as well we're back in a moment you can't buy love.

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all right, folks a lot of americans getting sticker shock this week when filling up their cars. will they complain and just move on or will the prices actually change behavior? let's go to dom chu who has done numbers on it. >> soft data, soft economic data, survey related data, but we left record prices in the rear view, we keep setting new records. to give you an idea, aaa's today -- >> is that 4,331 >> seems like it, but $4.33. that's the average today and just look where it came from, the same time last year, $2.83 to kind of where we are now. if you look at that, that is

going to change behavior because according to aaa, their survey says that with $4 an average gallon gasoline, 59% of americans will actually make some kind of a change to their behavior based on it now, it gets even more poignant if it gets to $5 remember, 75% of people say $5 a gallon gasoline will make them really change what's going on. so what exactly are they going to change specifically it's the miles driven. if i have that much fuel -- >> i already have. >> right, you're just not driving as much. here's the problem, if you're a structural driver like i am, i have to get to work every day. i'm in the office all the time, and i drive x number of miles every day. i have to fill up 1 1/2 times a week that makes it hard for someone like me to say i'm going to drive fewer miles. here's the interesting part. when it comes to push comes to shove, people are not going to change their plans wholly. 52% of americans say they have

summer vacation plans and 42% of those people who have plans, guys, will not change those plans given fuel costs >> especially post-pandemic. i think it would take a lot for people to change them at this point. >> they'll just bake it into the costs. >> or do whatever they have to do >> dom, have a great weekend thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >> hello, and welcome to "closing bell. i'm sara eisen here at the new york stock exchange. choppy day to end what has been a downbeat week here on wall street major averages all lower and pacing for weekly losses >> i'm mike santoli. let's look at what's driving the action futures gault a bid after headlines crossed saying there were certain positive shifts in talks between russia and ukraine. that boost quickly faded meantime, president biden called on congress to suspend normal trade relations with russia, and announced a ban of russian alcohol, seafood, and caviar and oil prices are ticking higher again today energy is the only