any large size food product makes it unappetizing looking. that's "my take". maria: it has been a fantastic 3 hours. have a great day and thank you for being here today. thanks for joining us and stay with foxbusiness, "varney and company" begins right now. stuart: here we go again. this is called extreme volatility. another bad case of it today, the dow dropped 1100 points monday, could close higher. we are looking at another drop of "the opening bell," the dow is going to be down 260. we have no idea where it will close. look at the s&p 500, 8% below

its high, many people invested in spx, the index itself, standard & poor's is down 66 points as of this morning, all eyes on the nasdaq, 14% below its high, big tech sold off sharply, set to open way down again this morning. we don't know what the federal reserve will say about printing money and don't know what the russians are going to do in ukraine. two big unknowns, two big problems. guptas recovered after a big drop at the open yesterday. bitcoin 36-numfour. ethereum, 2:4. the fed meets today to discuss interest rate and this morning the yield on the 10 year treasury is one.75%. it is 4:00 in the afternoon in kiev, the capital of ukraine. no sign of the russians. it has been a standoff overnight. president biden held a meeting with european leaders and said there was usually -- unity on the ukraine situation.

8005 and us troops ready to deploy in eastern europe but not ukraine itself. the president lost his temper and insulted fox news white house correspondent peter doocy. peter asked a question about inflation and the president called an s ob. in a moment you will see the exchange. it does not look good in these dangerous times, the president came across as an angry old man. tuesday january 20 fifth 2022, "varney and company" about to begin. stuart: the producers got the music right, don't take me down. i'm afraid that's where we are going on the market. 24 hours ago i was saying the same thing i am saying now. a big selloff in stocks because

of said worries and war talk. lots of reading calling for the place. michael lee, the super bowl himself. before we get into your outlook, tell me what happens to stocks if the russians launch an invasion of ukraine? >> can't be good for the stock market. it depends on the scale of the invasion, how long it takes, how much advanced modus we have. stuart: is that we are looking at? >> in the first news the attack is imminent. if we know it will happen, if there is all of a sudden a sneak attack in the middle of the night that is very aggressive i can't imagine it is good for stocks, that sort of conflict especially giving the biden family ties ukraine and the urge, the desire of washington dc to go to war won't be good for the markets. stuart: here we are deep in the red and you are a super bull.

what do you say now? >> what i would say, one thing i have been saying, one hedge i made to my -- the last 8 to 9 months, the fed can derail the market. the fed is derailing its, so much uncertainty, in this meeting, it is over the next 6 to 18 months. what is rate normalization going to look like. we want tomorrow afternoon we will hear from the fed, if investors think they come down hard, a lot of interest rate hikes, i presume that would end your bullishness, you look for the market to go down. >> what i would say, this is not the first said led selloff

over the last decade. in 2018-16-2015, 14-13-2011-2010. anyone who bought on those weaknesses was handsomely rewarded but in the interim it gets ugly and what has changed over the last decade is this momentum, computer-driven electronic trading that pushes assets around in the blink of an i. i have never seen 5% intraday moves on an index like the nasdaq like we saw yesterday. there is massive amounts of cash, massive amounts of power from computer-driven algorithms so markets can whipsaw around quicker than you and i can blink, the ugliest phase in the market we've seen, i wouldn't be surprised if we recover a lot of the 8% losses, until this gets resolved that makes sense. a wide range of viewpoints where interest rates are going

and until the consensus can be narrow you can't value risk assets without a consensus of u.s. treasury purposes. stuart: extreme volatility in short-term. thank you for being here today, thanks for being here. good morning. can we call 36,500 the price of bitcoin now, can we call the recovery? >> in the sensitive was under 33,000 yesterday yes. is a convincing recovery? i don't think so. intos continue to correlate with equities and the fed's response to inflation at the 40 year high. it summed up what you are seeing beautifully. teenage bitcoin, interest-rate tantrum, ready on crypto currency. with institutional buy-in, it will throw tantrum like a 13-year-old. stuart: thanks, let's get to

the story everybody is talking about. president biden was caught on a hot mike lashing out at peter doocy. peter asked about inflation so watch this. >> do you think it is a political liability? >> it is great asset, more inflation. what a stupid [bleep] stuart: sean duffy is here with me. what does that say about the president in a time of crisis lashing out with all garrity? >> it seems god, it is a standard question, he should be questioned on inflation and the politics and what he's going to do to fix that lashes out at peter doocy for asking a question every reporter should ask, a testament that it is not from the press, he gets a tough question, every american wants an answer to, he can't handle

it and has that kind of profanity and vulgarity with a news reporter. we say this all the time but just imagine if donald trump talked to a reporter that way and how the media would've lost its mind, they tried to wipe this way but at fox we talk about the donald trump, president biden treats reporters when he gets a little bit of the challenging question. stuart: to me it displayed in a real man. in charge of the country at a dangerous time. that raised my anxiety level quite frankly. i don't mind about the insult, he can call a reporter whatever he likes but to burst out at this moment in time, high anxiety for me. how about you? >> reporter: is high anxiety by expect him to have an answer. talk to the american people, stop, don't insult peter but answer the question on the politics of the policy of inflation. the markets would do a little better this morning and feels

good about the way president biden was handling, when he doesn't, it is frightening to think this guy is in charge of the economy. stuart: i'm not sure the market would respond favorably, that's the story. the mainstream media seems to be changing their tune on president biden. >> who feels like we are in a better place now than we were a year ago? show of hands? no one believes we are in a better spot? >> mister biden needs a reset. stuart: looking at that it seems to me that biden is losing the media. what do you say? >> liberals and democrats are not losing the media for he can't carry the torch president biden can, he is old and too progressive and too liberal,

what they are doing is throwing in the towel here. getting bad press might push president biden out of the race in 2024. maybe by pushing president biden they can insulate house and senate candidates that are up for election in november this year. it is a strategic play, changing hearts and minds on poverty, they are still radical liberals but the policy hasn't worked and went to cash in president biden, not the wrong policies. stuart: thanks for being here on an important day. >> buying opportunity for crypto. we just got the case shiller monthly home price index numbers. >> across 20 big cities, prices went up, the sixth largest gain on record which suggests the

increases, start to move up, everyone is moving to florida. in addition to phoenix, 10 and miami led to price gains of 29% year over year in tampa and 26.6% in miami. everything got expensive in florida, try looking at a vacation there. stuart: been there done that. sharp declines expected at "the opening bell" especially the nasdaq. and picking up a weapon in the battle for democracy. role tape. >> it is indeed a war, everybody needs to pick up a weapon and get involved, the safety, and -- stuart: pick up a weapon. anyone on the left going to criticize her. 8000 american troops on heightened alert ready to deploy but where would our

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stuart: 20 of red ink on the left of the screen especially on the nasdaq. at the open, don't know how it will close. the us has 8500 troops ready to go immediately to eastern europe. greg, what is the latest from there? >> reporter: as us-led efforts on the military front, diplomatic front, and economic front, some new information

about russian troop movements and ominous invasion plans. -- officials say 30 train loads have been deployed into neighboring belarus, 60 russian battle groups around ukraine almost completely, and bring british defense minister says russian advance troops are in the country. efforts to evacuate americans are up, fox news has learned 200 americans will be, 20,000 americans in ukraine. we were just listening in on an embassy conference call. the ukrainian government says the evacuation moves are premature, president zelinski said the situation is under control and is trying to attempt on the panic. russian officials say it is the us and the ukraine who are stirring things up. 20 seconds on this, the best

connected journalist, had an alarming word saying number one, he thinks the threat of war is very real. 2, he thinks it will be a widescale russian invasion. 3, he says it could happen in three to four weeks was the only wildcard, russian president vladimir putin. back to you. stuart: dramatic stuff indeed. congressman mike walsh, republican from florida joins me now. don't know if you heard that report but that was rather dramatic news. the brits are reporting 30 train loads of troops heading to belarus which is neighboring ukraine, 60 battle comes around ukraine and a journalist and of thinks war is imminent and will be widespread. any chance our troops we may send over there will come into confrontation with russian

troops. >> i think greg's reporting is right. and with 140 athletes, several of which are transiting the strait of gibraltar into the eastern mediterranean plus dozens of fighters, and the types of troops now. many of which are the national guard and reserves. it is no matter of if but when and how far putin decides to go whether it is limited or full-scale invasion. what we see is we're talking a few fighters, i don't see us

troops engaging russian troops, poland, romania, hungary that are very nervous, invaded by the russians several times but there is no intention ic for them to engage russian troops. we have some trainers in ukraine helping with legal aid that is flowing in, too little too late. stuart: state department's price having a hard time linking afghanistan to ukraine. role tape. >> the united states is not going to turn on afghanistan. anyone who takes a lesson from that other than the fact the united states is positioning itself to take on the threats and opportunities we face while we continue to partner with and support the people of afghanistan, taking them out. stuart: have a hard time linking it with ukraine. do you have a hard time?

>> that's a slap in the face to our allies, the goldstar families and so many veterans who as we speak our funding flights to get americans out over the state department's objections. it is insulting and clueless but who is linking the afghanistan betrayal is certainly putin. watch russian state tv, watch what they are messaging to taiwan. america will not stand for you. hedging bets and working with us instead. this is absolutely since we was two democracies in the state of one year of biden being in office, it will be katie bar the door for iran racing to a nuke, north korea, and taiwan. stuart: watch out.

we always appreciate you being with us. bring back lauren. does the us have an accurate count of how many americans are in ukraine? >> know and it parallels afghanistan. state department spokesperson ned price, is there a count on number of americans in ukraine. >> we do not have an account we consider to be accurate of the number of americans, private americans who are resident in ukraine. lauren: not only is there not a count but no organized evacuation effort if it is needed. ukraine, with other countries did the same, ukraine is calling that premature but critics say what the congressman said. weakness in afghanistan has created and invited weakness everywhere. stuart: looks like this

parallel. we are still looking to the downside for the dow, s&p and nasdaq. a repeat performance of yesterday morning. "the opening bell" is next. ♪♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style.

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agent. humana. a more human way to healthcare. stuart: david nicholas joins us right before the market opens. what are you telling your clients to do right now? >> that volatility is not over. if you are looking to buy, don't use it all in one day. the next few weeks, volatility is not going away. we bought a little bit on friday, a little bit yesterday, still 10% dry powder, we will be buying on dips. the worst thing i can tell you is please sell. we pleaded with our clients. we will do it but don't advise selling, we did see the big

turnaround yesterday, these are the times you are buying as painful as it is, as hard as you got to buy. really company, owning 5 or 10 years from now, do we want to be buying. stuart: a specific question on the situation in ukraine and russia. what happens to the stock market if russia does in vain ukraine? >> a geopolitical risk we put into black swan risk. that is fresh on the markets. here is where i draw the line. if us troops stay out of combat with russia, markets can absorb this. any altercation with us troops will spell trouble. stuart: russia's walk across the ukrainian border, does the market selloff big time. stuart: you see 10% to 12% pull back in a situation where we are prepared for that.

the geopolitical risk is a risk on top of interest rates that is added to the market. stuart: what do you make of the microsoft earnings report this afternoon. if they disappoint, this market looks shaky, doesn't it? >> excellent point. i can correlate it to ibm, what happens to ibm? microsoft will follow them so if microsoft reports well it will provide support for the market. if microsoft fails, cannot give good earnings on software, topline growth, selling pressure, so goes the rest of the tech markets. stuart: he would not tell your clients to sell today, you didn't tell him to sell yesterday. don't try to catch a falling knife. is that it?

>> what warren buffett says if you are not willing to own a stock for 10 years, don't think about owning it for 10 minutes. our clients know the money in the market is money where you are 10 years from now. from retirement, that is coming from other sources out of the market. we are buying, not sellers in the market. stuart: thank you very much for joining us, big day today, appreciate you being here. "the opening bell" is ringing already. we are expecting a downside move of some proportion at "the opening bell". the dow industrials down 300 points from the start. it is 0.9%. on the left-hand side of the screen where we show you all 30 dow stocks, 26 of them are in the red and four in the green. that is the dow opening down one%, 379 points, the s&p is down one.4% and the nasdaq

composite, i hate to look, down one.8%. 13,600. we are off and running. i am interested in big tech. so is susan. what have we got? >> do you want to bet whether we will see this recovery by the end of the bill yesterday. that was a multi-trillion dollar come back, the biggest comeback since 2008. you heard from the previous guest about earnings. tesla sandwich in between. stuart: is it something to do with this war talk, is that helping take tech back down again? lauren: also these elevated levels, talking financials that should do well in a rising rate environment, if you're making more money than going out, that would help the financials and their profit margins but they

are being fully down, with the stock markets. and lpl financial, with midterm years that are difficult. and they are able to escape down years in midterms, president clinton, go back to eisenhower, these are difficult years for stocks in investing. stuart: tell me about microsoft. my point would be they better do well or they could take the -- >> something tells me. we are expecting the fullest profit growth in 6 quarters. and gaming up year over year,

and a cash bid for activision. they are holding up better than most. the companies, bifurcation of quality right now. they make actual money and profits like microsoft, apple, holding a lot better than speculative tech who do not make any profits. stuart: that is definitely true. a series of companies came out with their earnings. >> record credit card spending, amex as a result raising its dividend and guiding for higher sales this year, 2022. there is a 100-year-old company

split into 3 companies. higher inflation means, they forecast for better profits and free cash flow. and the breakup, and johnson & johnson beating by a penny a share, they breed their forecast with $3 billion in covid vaccine sales this year. stuart: let's look at ibm, old tech, nice game, one% higher, strong sales growth. >> cloud paying up for big blue, took a while, almost 11 years. and muscle up to compete with microsoft and amazon.

and a red hat acquisition with a $4 billion cloud consulting company. and spitting out infrastructure services but stock is down this year. the broader s&p so far. >> a strong production in the united states. >> elon musk, tesla, king, we are talking in fremont, california who churned out more cars per week, the combustion engine plant. is that incredible? talking 8500 tesla cars rolling off of the fremont line each and every week, more than the toyota kentucky factory and bmw at south carolina plant and the tesla announcing a record year of car production last year so these numbers are not

surprising but they are forecasting a possible 50% jump in production this year, china and berlin, austin, helping that. stuart: musk is out with a headline making statement. about mcdonald's. >> let me give you the background on crypto and mcdonald's. more than $1.3 trillion in crypto value wiped out in the 7 or 8 day selloff and interesting that do you see the turnarounds by bitcoin and the russell 2000, wasn't that incredible? because of this crypto selloff, if all things don't work in crypto investing they can work in mcdonald's and that is led by the el salvador president tweeting out this joke and mcdonald's taking notice of this thing that how are you doing in twitter land, making

news, for elon musk saying he would need a happy meal on tv if mcdonald's accepts dogecoin. stuart: i'm done with doge and musk at this moment. >> not a fan. stuart: i think musk is a genius when it comes to building cars and doing tunnels and getting into space but this stuff about doge the coin leaves me cold. what we have on the screen is the dow winners headed by american express, nice earnings report, up 6%. the s&p headed by moderna, they are up 6%. not sure what the story is and nasdaq winners headed by activision blizzard up this morning, because that bid from microsoft. microsoft is offering $95 a share. activision blizzard at 80.

let's move away. bill marr the comedian calling for a return to pre-covid normalcy. >> i don't want to living your paranoid world anymore, your mask paranoid world, you go out, it is silly now. a mask, a card, booster, they scan your head. stuart: the latest of the view were very unhappy with that. we will show you their response coming up. remember when the value meal was a good deal? inflation is driving up the cost of those fast food bargains. it is bad news politically for the president. larry kudlow on that next. ♪♪ don't blame it on me ♪♪ don't blame it on me ♪♪

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stuart: we are facing the highest inflation rate in four decades in the fight over ukraine putting energy prices higher. hillary vaughan at the white house. >> the inflation fix from the president's perspective using antitrust laws to crack down on corporations he thinks are dominating the markets and driving prices up even with inflation lingering at 7%. the president is not everything can his strategy, still think it is a competition issue, not a government spending issue. he met with his white house competition council to lower prices, the white house dusting off the old executive order

biden signed 7 months ago to crack down on corporation and driving out prices like big apps. >> president biden: a handful of giant companies dominate the market. we see it in big ag. >> reporter: 85% of people worried about rising prices, the president was not in the mood to talk about how inflation might be a problem in the midterm election. >> a political liability. >> president biden: it is a great asset. more inflation. what a stupid [bleep] >> reporter: the president did tell peter to clear the air and said was nothing personal but clearly this issue of inflation is getting under the president's skin. stuart: don't ask in a real man a question about inflation,

let's get to the markets. another trip south. the dow is down 400 points. i don't know why larry is laughing. >> reporter: that wasn't bad but yours was the clincher. don't ask an angry old man about inflation. the unkind first cut of all. stuart: i think the selloff in the stock market has political implications because of the midterms and inflation and the state of the economy. do you think president biden is getting any of the blame for the market selloff? >> we will have to see how the market plays out. looks like a very weak market, the brought indexes are off 8%, the nasdaq 14%, very bad new year in stocks. if that continues it will add

to the president's political woes. usually does. i still think the issue as you and hillary was talking was inflation, inflation is public enemy number one. biden never understood that. interestingly all this business about going after companies, the radical left hates business and biden falls nicely into that. businesses always want to screw their customers, they don't want to help customers, they don't even want customers. the left sees business like being in the faculty lounge were telling students what they have to do. they don't understand the competitive nature of business markets was the idea of price gouty and antitrust, they have

never proven one single thing. they have come up with nothing about price gouging or anti-competitive or consumer harm. not one single thing. it is all baloney is what it is. inflation is killing politically. stuart: if the federal reserve whose job it is to crack down inflation. if they do and raise rates dramatically you will have a nasty recession. that is the outcome. >> i would agree with that. an interesting play out. this is not going to be a for a moment. jay powell is not paul volcker, and joe biden is not ronald reagan who told him to do whatever is necessary. they should becoming taxes instead of trying to raise taxes. but the fed is going to take

the punch bowl away, into monetary tightening, interest rates in the marketplace have been rising. it is the very beginning of the fed's tightening cycle. i will give biden one credit point that the federal reserve is responsible for inflation. will recalibrate their policies, that's a half truth because government spending was accommodated by the fed but -- stuart: he can blame the fed for inflation. i am very sorry. interesting things to say. i will watch you at 4:00 this afternoon. the chief economist of goldman sachs says it will be difficult to sustain wage gains of 5% to

6%. >> it exacerbates inflation everywhere. he suggests the pain point, the wage increase is 5% to 6%. as a one off it is okay but not sustainable. inflation running out 7%, feels like a pay cut for real wages down 4%. stuart: at least four. lauren: so much came off of the market it is baked into the market. stuart: dow is down 500, nasdaq is dow300 and the s&p down 2%. the selloff continues. don't know how we close. the world's first and if the restaurant opening already and we have the restaurant ceo with us. nft restaurant selling regular food like that. los angeles giving residents

free money, no strings attached. we have the report next. ♪♪ california dreaming ♪♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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stuart: extreme volatility has returned, the dow is down 660, that is one.9%, the nasdaq is down 2.7%. so far this year the value of all publicly traded stocks is down $4.7 trillion, the selloff continues. los angeles starting any new initiative that would provide monthly payments to residents with no strings attached. kelly oh grady has the story. what is the plan? >> reporter: los angeles will provide $1,000 a month to 3200 residents a year, funding will come from taxpayers as well as lapd budget cuts to address the rampant poverty and homelessness we are seeing. the initiative will make the largest us city to launch a basic income program. they must meet a short list of

requirements including having the pervert -- federal poverty level. the universal basic income goes beyond the last 33 cities across the country have similar programs including pittsburgh, sacramento and chicago. many argue these are successful experiments. i want to highlight true benchmarks for ubi, most initiatives comprise a few hundred people which calls into question the scalability that are temporary in nature. how permanent it impacts decision-making around spending and jobhunting habits on top of that some economists worry the influx of cash will make inflation worse and worker shortage. >> it hurts lower income people the most because they are the most sensitive to inflation and also it can also -- it gives less incentive to work, to take those jobs and learn skills and keeps them at the bottom of the labor market. >> reporter: removing that uncertainty motivates recipients to find improvement we was he slowing gdp, shrinking tax pool and labor and skills gap.

many point to the pandemic stimulus checks as an example of how it can damage the economy in los angeles can do that the questions remain on whether this could further cement inequality and as inflation grows how much does a $1,000 mean anymore. stuart: la took the money out of the police budget, great stuff, thank you very much indeed. here's what we have still ahead. retired 4-star general jack keane, former us ambassador to nato worked with paul -- mike pompeo on the ukraine situation. the 10:00 hour of varney's next. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset...

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♪ you've been thunder struck ♪♪ stuart: good morning, everyone. 10:00 eastern. we'd better get straight to the money, because we're heading south again. it's just like 24 hours ago a, sharp selloff right from the opening bell. again, i don't know how we're going to close. at this point the dow is down 1.8%, and the nasdaq is down a whopping 2.5%. that's e a big drop. the 10 is-year treasury yield holding at 1.74%. not much movement there.

the price of oil this morning i- it's at $84 a barrel, so it's back up again. bitcoin, earlier it got to $36,000, it's at $36,000 now. so huge selloff in stocks but not a matching selloff in the cryptos. consumer confidence numbers, it's 10:01 almost, what is it lauren? lauren: it fell, but not as much expected. the number, 113.8. this is consumers' attitude, their buying intentions, their expectations in the future for inflation. stuart: okay. that does not have any impact whatsoever on the market. the dow still down 2% now. now this. a year ago almost to the day president biden killed the keystone pipeline. without knowing it, he had given russia a huge advantage, an advantage that putin is now exploiting in ukraine. biden had started a war on fossil fuels. cut the supply, raise the price. russia loves it.

they supply much of western europe's energy. if they close the nat gas pipeline, they could shut down germany tomorrow morning. that's why germany has not been a reliable ally in ukraine. when the buritz flew in -- brits flew in weapons to kiev, the plane had to fly around germany. berlin was scared of what the russians might do if the plane had flown over germany and they'd given permission for it to fly. putin's got them over a barrel. before biden, america was energy independent. our frackers ran the show. now we are begging opec and russia to produce more while at the same time threatening the russians if they invade. again, the president's caught in a crisis in part of his own making. the president should move heaven and earth to increase our energy production, but he won't. he can't. he's locked into aoc's climate solutions. so putin keeps his hold on europe's energy supplies, gives him leverage, and we pay rising prices to heat our homes and

drive. the world is paying a heavy price for biden's green dreams. second hour of "very isny" -- of varney" just getting started. ♪ ♪ stuart: scott shellady joins us this tuesday morning. i just said the world is paying a price, a heavy price, for president biden's green dreams. what do you say? >> well, i'm going to say that it's going to get even pricier, stuart. i mean, look, we're on the verge of interest rate hikes in this country like we haven't seen before in a long time, and we've got smart people -- economists on both sides of the aisle -- that say we're going to have between, say, 0 rate hikes and maybe 8 rate hikes. and that that's being reflected in how volatile our stock market is because nobody knows. now, we're going to get more information tomorrow, but this energy policy is really the biggest issue for me because i

think energy is such a large part of the inflation policy which is all about the interest rates and why the fed might be having to hike because our inflation is so high. if you take energy out of that or dampen it down a little bit, does the fed have to huge interest rates on everybody in the country to pay for a bad energy if policy? that's the problem. look, we've done it your way for a year, it hasn't worked out. can we go back to the way it used to be? no. they've doubled down. banks aren't taking the deposits from some of these fossil fuel companies, big investors and hedge funds aren't buying the stock, and so they're running scared. nobody's going to stand behind them, and they're not going to reinvest. they're not going to spend any money to get deeper in debt, so this is just one big -- [laughter] big, horrible situation. so -- go ahead. stuart: no, i want to know -- look, we've got energy price inflation now. oil at a $83 a barrel, gas lean prices going up. i've got it. does energy price inflation get worse from here?

>> well, if there's a conflict with ukraine and russia, that oil price is just going to go up. and the -- we've already seen wheat which is, obviously, food. so you've got food going through the roof and fuel that you have to use to transport the food, plus we have to use fuel every day to get to work. both of the two biggest, you know, problems with inflation, food and fuel, are going to go through the roof. that's the problem. but i don't think that they see the error of their ways. i get we all want to be better and have cleaner air and water, but, stuart, let me just tell you, the mississippi river can is the cleatest it's been in hundred -- cleanest it's been in a hundred years. we've only got 1% of the pollutants we had in that river back in 1980. so we're doing pretty darn good on our own without all in this green new deal stuff forcing us down this way. but, no, they're turning it into a revolution when it was just be an evolution, something that the consumer wants to do on their

own, and that'll take time, and we'll get there in the end rather than force everybody to wind and solar when we can't support it right now anyway. stuart: it's a bit like a mandatory vaccination. [laughter] hey, scott, you're all right. see you again soon. >> all right, thanks. stuart: listen to this, president biden's approval rating has sunk to a new low, 39%. that's in a new harris poll. matt schlapp is with us. now, that poll, matt, was taken after his press conference but before russia. was that perhaps an opinion on the presser, a disaster? what do you think? >> yeah, for sure. i mean, he's got a quadruple whammy coming his way, stuart. first of all, if you look at the real clear politics average, he's at about a 40 percent on his approvals which is terrible. the congressional ballot, meaning would you vote for a republican or democrat coming up in november, republicans are actually leading that. we never if lead that.

matter of fact, a lot of times when we win national elections being slightly behind in the generic ballot. the right track/wrong track, 26.5% of americans think we're on the right track. that is just, that's the basement. that is terrible. and the final thing. your fox poll that came out the other day? 25% of democrats are saying they won't vote -- they will vote for joe biden. that fox poll gave joe biden a higher approval than all these other polls, so that means probably 30%, a third, of democrats are saying they're not going to vote for joe biden. stuart, i don't know how he gets out of this mess. stuart: would you categorically say the republicans are going to win back the house in november and win back the senate? would you say that? if because if you do, i could accuse you of being overconfident. >> yeah. you know, i tend to not be overconfident when your with last name's schlapp and you have screwed up so many times in your life --

[laughter] i'll say that i've never seen a setup like this for a political party to spank the other side. i mean, the republicans have everything going for them. now, we have screwed up plenty of things in the past. the difference here is that the american people are seeing these biden policies, these socialist policies, and they don't like it in anything. they don't like what they're seeing in foreign affairs, they hate what they're seeing with inflation and their wages and the stock market tanking on the economy, and they hate the socialism of vaccine mandates, a virus that they have really, they have no talent to try to manage, and they're just seeing a fail in all three legs. stuart: you're not overconfident, you're very confident. matt schlapp, thanks for being here -- >> that's correct. stuart: all right. see you later. all right. back to the market, we're down, down, down, i'm sorry to say. we're starting with the movers, and disney is definitely moving. what's the story? lauren: remember when it was at

203? that was the high. when you're looking at disney plus, great content, slow in process. challenges with covid at its theme parks. let's look at netflix because these two have fold each other, right in netflix is down 44% from its record close. stuart: ouch. >> it was 700 at one point. 372. netflix actually has a disney problem because in the u.k. they're threatening -- disney is threatening to take back some of its hits that netflix has right to like -- rights to like modern family. also nvidia here, what a disaster. there are reports that it's walking away from that $40 billion deal to buy arm as because it's struggling to get regulatory approval. here in the u.s., in china and in the u.k., europe now says they expect an antitrust decision may 25th. mind you, this deal was announced in, i think, september of 2020. stuart: just a couple of months ago nvidia was at 346. that was its high, i believe.

it's now 222. lauren: down to -- 30%. is it deserved? stuart: people make money as the market goes down, you know. lauren: yep. stuart: short sellers, you short a stock, you're betting it's going down. stocks have gone straight down, so i presume the short sellers have made a ton of money. lauren: they have, $114 billion. $114 billion -- stuart: all the short sellers collectively, not just that one group. lauren: yes. and the most profitable shorts have been in tesla and netflix. they've made $2.3 billion in tesla, $1.6 billion on netflix shorts. stuart: my goodness, me. stuart: -- lauren: uh-huh. day 25 of the new year, they're coming back. stuart: i think you've got the story, a 19-year-old hacked tesla car owners' e-mails only to warn them. warn them about what? lauren: a white hat hacker who happens to be a 19-year-old boy,

david colombo. he found access through a third party flu, and he was -- flaw, and he started honking horns, opening and closing the windows and doors almost like a ghost got into your car. imagine being home and hearing the engine start on your tesla. he couldn't get criminal of the steering wheel or the accelerator, so he couldn't steal the cars should he have wanted to do that. but he then told tesla about vulnerability that he found. tesla has fixed it. do they pay him any money or hire him? stuart: he's a good guy. lauren: a white hat hacker. stuart thanks very much, lauren. president biden lashes out at peter doocy after he asked a question on inflation. you've got to watch this. >> do you think inflation is a political liability -- >> that's a great asset. more inflation. what a stupid son of a [bleep] stuart: i think you get the gist of what he said. the man himself, peter doocy, will join us in the 11:00 hour

this morning. the pentagon putting more than 8,000 u.s. troops on heightened alert. we have a live report from moscow. meanwhile, state department spokesman ned price says he has a hard time understanding what the afghan withdrawal has to do with russia. former u.s. ambassador to nato, kurt volker, will take that on for us. he's next. ♪ ♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪

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-- 1.7% right now. gold not doing much. 1845 per ounce, up just a buck. bitcoin, still around $34,000 -- no, yeah, 36, i'm sorry, 36,490, that's your quote. the price of oil, last time we checked it was $83 a barrel. it's gone up, $84 a barrel. energy price inflation. nat gas close to $4 per million british thermal units. the average price for a gallon of gasoline has gone up to $3.34. in california, still no bargain, $4.64. let's go to moscow. that's where amy kellogg, that's where we find her, she's there. amy, what's the latest from putin? >> reporter: hi, stuart. well, russia continues to blame the west and particularly the united states for the escalation of tensions and, basically, they

are trying now to portray the ukrainians as the ones who are gearing up for some sort of aggressive activity. this as the russian troop buildup continues, movements continue at pace. the world and russians wait to see where this is all a going and what president vladimir putin has many mind. putin-friendly media carries his message that russians in ukraine are in danger. but here at russia's last independent news tv channel, rain in english, they say their viewers are worried about a possible war, have no appetite for it and say while putin is a complicated leader to deal with, the wes needs to figure out a -- the west needs to figure out a way to keep this there spiraling out of control. >> i have a feeling, and i think that the western world can stop this, actually. if it's smart. just don't give vlad vladimir putin what he asks.

i mean, he's not, he's very used to the situation when he gets everything he asks because he, he is like -- he is blackmailing people in the west. the white house may be smarter, which i'm not an adviser for the white house, but think. >> reporter: stuart, tv rain is on the russian government's growing list of what they call foreign agents, so they face an awful lot of obstacles just doing their jobs. but they say that the crackdown on the press and on opposition figures in russia and what they characterize as russia's aggressive foreign policy are two sides of the same coin. stuart. stuart: that tv rain reporter is a brave laid arety. amy -- lady. amy kellogg, thank you very much. appreciate it. with me now is former u.s. ambassador to nato, kurt volker. he worked in the previous administration with mike pompeo

on the ukraine situation. mr. ambassador, we have a report from britain that 30 trainloads of russian troops are now in belarus, 60 battle groups now surround ukraine. mr. ambassador, it looks like an invasion is imminent. >> yeah, it does. it certainly looks like that. vladimir putin has put in place all the forces he needs in ukraine and around ukraine, even at sea, in order to have a snap invasion if he wants to. and he's put out demands to the u.s. and nato that immediately have to recognize russia's sphere of influence or else. it does seem like he's very determined. stuart: we're quoting a journalist in ukraine, a well known local journalist in kiev. he's saying that the threat of war is real, that it would be a widespread invasion, and it will come in 3-4 weeks' time. how does that fit in with your analysis? >> yeah, that sounds about right to me. i would expect russia to try to enter ukraine from three or four

fronts simultaneously in order to divide the ukrainian forces. and i think they will do so in early to mid february. that's when the ships will be arriving in the black sea, the naval landing ships, that's when the exercise in belarus was announced, it's for february 9th. so in that time frame is what i would expect. stuart: is there any danger at all of u.s. troops getting into a shooting match with russian troops? >> not at the moment. president biden has ruled out putting u.s. combat troops into ukraine. he is looking at sending u.s. forces to nato countries, ballot baltic states -- baltic states, poland, romania, to deter russia from going there. but, of course, that has no impact on putin's thinking about ukraine. stuart: if you were advising president biden right now, what would you tell him to do or suggest that he would do? >> thank you. get the troops into nato countries now, put sanctions on russia now. extortion is a crime. not just assault, extortion is a

crime, and that's what we're seeing now. put the sanctions on now. and also give as much security assistance and trainers and support to ukraine as we can today to help them defend themselves. stuart: if you did all of that, do you think russia would back off? >> i think they might. putin responds to strength. he's a calculating guy. he's going to see what we're prepared to do. of at the moment he doesn't think we have the resolve or the stomach to use force. you know, he looks at what we did in afghanistan as the precipitous withdrawal and says, you know, you don't have the will to use with force, i can take advantage of this. stuart: on that note, mr. ambassador, the state department's ned price says he has a hard time understanding what the afghan withdrawal has to do with russia. watch this again, mr. ambassador. roll tape, please. >> first of all, the united states has not turned its back on afghanistan a. anyone who would take any lesson from that other than the fact that the united states is positioning itself to take on the threats and opportunities

that we face now while we continue to partner with and support the people of afghanistan, that would be mistaken analysis. stuart: well, did our weakness in afghanistan encourage russia? >> yeah, absolutely. and, you know, i appreciate that ned price has got a difficult job being a spokesperson for this administration if on afghanistan because people can see those pictures that you're showing right now of, you know, chaos at the airport, americans left behind, allies left behind, taliban. these guys in pickup trucks with machine guns taking out the u.s. military from afghanistan because we didn't have the will to stay and to control the situation. there's no reason we had to stay forever, but we didn't have to have a chaotic withdrawal like that, and that's what the world saw. that's what putin saw, xi saw, the iranians saw. stuart: key player here germany -- >> yes, that's true. stuart: -- and they don't seem to be a real ally of the united states, not a real strong ally, because they're beholden to the

russians for energy supplies. russia could close 'em down tomorrow morning if they wanted to. that's strong leverage. >> yeah, that's exactly right. now, the germans always say, oh, we can get energy from elsewhere if we want to, but fact is they don't. [laughter] they are proceeding with nord stream 2 pipeline which will increase russian supplies of gas. they are refusing to consider sanctions on the swift similar that, you know, denying russia access the financial transfers. they refused overflights of the u.k. to get to ukraine bringing arms to ukraine. so these are all very, very concerning moves by the german government. stuart: dangerous times. are mr. ambassador, we thank you very much for being hear to comment on them -- here to comment on them. >> pleasure, thank you. stuart: yes, sir. gotta get back to the markets. russia's one thing, the markets are another. down 566 now on the dow industrials, down 360 on the nas a damage composite and down almost 100 points on the s&p. it reminds me of 24 hours ago when we were in exactly the same situation.

of course, we bounced up to close higher on the day. i'm not forecasting that today, i don't know what's going to happen. but i'll show you big tech, down across the board. look at google right there, top of the list there, alphabet. it's 2559. the high was 3037, so that thing's way down. apple at 157, the high there was 182. and so on down the list. now, if you look at financials, they are all sharply lower again. seems like big tech and financials are two outstanding groups of stocks which are showing the biggest losses except maybe for the restaurants. why they're coming under such a hammering, i really don't know. but they are down bigtime and so are the retailers. walmart back to 138. nordstrom, $22 a share. kohl's, 63. there's a lot going on in this market right now. i can't think of a single group of stocks that's showing serious gains. now, we've got a new omicron sub-variant that's been detected

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♪ stuart: all right. the market still very much in the red, but it's not as bad as it was about 5 minutes ago. the dow is down 400, the nasdaq down 276. it's actually getting better. all right. you've got the movers for us, lauren. who have we got here? moth, apple, tesla -- microsoft, apple, tesla. lauren: they're all reporting this week, starting with microsoft. i want to show you how far down they've come. microsoft down 13%, tesla down 24, apple down 11%. so can they reverse the trends in their earnings reports? dan i'ves, he says this is the most important earnings season for tech in potentially the last decade, and the street needs to hear good news at a, quote, white knuckle time. i'd agree with that. [laughter] stuart: yeah. lauren: we saw the vix at the highest levels since october of 2020 yesterday, so it is this an

unprecedented time for retail trades who are not used to it. they're used to stocks going up, but now we're seeing them not only go down, but big reverse aals. take a look at american express, a record spending op on travel and entertainment, but that was backward-looking. 40 how do they feel now? well, it's good. they expect sales to increase 20%. and another loser, air aerojet, they expect the ftc to block the lockheed martin transaction for $4.5 billion. stuart: oh, dear. an offer blocked -- lauren: i should have ended on amex, sorry. [laughter] stuart: the new omicron sub-variant, it's called va.2, it's been detected in two states. jonathan sorry with us this morning. tell me more. >> reporter: definitely. well, it's similar to the original omicron variant but has

several mutations including to the spike protein. researchers say it's unclear how this subvariant compares to the earlier strain in terms of transmissibility and severity, but as long as the coronavirus is spreading, it has the potential to mutate. as the omicron surge shows signs of easing in some parts of the u.s. and around the globe, the head of the world health organization is urging the international community to redouble its efforts to get 70% of every country's population vaccinated by july. >> it's dangerous to assume that omicron will be the last variant or that we are in the end game. on the contrary, globally the conditions are ideal for more variants to emerge. >> reporter: this morning pfizer announced it has initiated a study in adults 18-55 to evaluate the safety and effectiveness of a new covid

vaccine that specifically targets the omicron variant. while existing vaccines continue to protect against severe disease from omicron, they are less effective in preventing its spread. the fda is restricting the use of monoclonal antibody treatments from regeneron and eli lilly. the agency is basing its decision on data suggesting that these treatments are ineffective against omicron which now accounts for more than 39% of -- 99% of covid cases nationwide. fda officials say they may reauthorize these treatments if they prove effective against future variants that begin impacting the u.s. stuart, back to you. stuart: jonathan serrie, thank you very much, indeed. dr. marty makary joins me now. do we know enough about this ba.2 to get worder ed? >> we don't really right now, stu. it'll take about two weeks. what they're going to do is, in the laboratory, see whether or

not this virus binds to the antibodies that people have to omicron, delta and the traditional strains. there are two cases that we know of in houston and two in washington state, but really it is very difficult for this virus to compete with the already highly contagious omicron variant, so i don't want people to think that the virus grew wings and now fly, you know, 3 miles to infect somebody. stuart: okay. seven virginia school districts are suing the governor over his making masks in mandates optional. the school districts want to enforce the masking of children. now, you're a chair on governor youngkin's medical advisory team. do you want to end all mask mandates? is that right? >> well, the governor ran on the idea that parents should have a say in how their kids are doing and what they're doing in schools. and the question fundamentally here is not whether or not masks work or whether or not there should be a broad mandate, but whether or not parents how far the right to opt out if their child is, say, for example, disabled as one parent described

to me and has been vaccinated and has speech pathology with a cloth mask on. what if all the children in the class are immune? these are the questions that we've never thought about, and we're about to reach very low levels of infection in the community, and the question is should the parents have the right to say -- we're one of the only countries who assumes there's no downside to masks. the w.h.o. says to consider them in older people and weigh in the impact of the psycho and social aspects, and the european cdc is against masks in primary schools. stuart: i think people, parents, adults should be allowed to choose whether they want to have their children and themselves vaccinated and whether they want their children to wear a mask in school or not. in other words, i'm saying end mask and vax mandates across the board. now, i realize i'm going a long way. are you coming with me? >> look, i'm with you, stu. some kids do find mask -- do

fine with masks and other kids really struggle. and we are learning from the brown with university study that there's significant cognitive and motor problems now in children, and the surgeon general's report that we have a mental health crisis, that as many as 25% of children have depression and another 20% may have anxiety. that is a crisis, and we can either ignore that data or we can listen to it and act. stuart: always glad that you point these things out for us, doctor, we appreciate it. dr. marty the makary, thank you. by the way, the market does seem to be coming back a little bit. novak djokovic could soon be able to defend his french open title. what did they do, change the rules? lauren lauren a vaccine passport in effect in france, but there's this little loophole that if you tested positive for covid-19 in the past six months, you can get that vaccine passport which would mean novak djokovic could play. he tested positive mid december, the french open is the end of

may. so it's five months. he, therefore, qualifies. did you know that 94% of adults in france have at least one shot of the vaccine? 94%. so is there a need for a vaccine passport? stuart: they've got a huge vax mandate there as well and all kinds of rules and regulations, but they've got 94% with one shot. you don't need it -- lauren lauren maybe they got it because they had it. you could make that argument. stuart: far be it from me to give advice to the french. lauren: as a brit. stuart: here's a surprise, singer neil young threatening to delete all of his music, take it off potfy. good morning, ashley webster, what's this about? ashley: good morning. you've always had advice for the french, but i digress. neil young is threatening to remove his music from spotify in profest for what he -- protest for what he he says is vaccine misinformation being spread by joe rogan's podcast.

young writes: i am doing was spotify -- because spotify is spreading fake information about vaccines, potentially causing death to those who believe the disinformation being spread by them. by the way, "the joe rogan experience" podcast has an estimated 11 million listeners per episode. young says spotify has a responsibility to mitigate the spread of misinformation and gave this ultimatum: they can have rogan or young but not both. at last check, neil young's music, though, still available on spotify. stu. stuart: i'll go with row began. i think they will -- rogan. i think they will. aaron. ashley: yeah. oh, it's a cash cow for them. stuart: 11 million a day? good lord. a judge has struck down new york's indoor mask mandate. governor hoe cull, however, is not giving up. we've got the details in our next hour. she wants masks. retired teachers, parents and even the national guard are

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1-800-763-2763. that's 1-800-763-2763 stuart: markets are still down, but dare i say coming back a little? i keep saying it. the dow was down 700, now it's down 400. the nasdaq, well, it's still down, 334 points. then there's this: staffing shortages around the country at schools, some of them, are asking first responders, parents, even the national guard to help keep classrooms running. madison alworth in new york. madison, is this all good for the kids? >> reporter: well, disruptions to learning like this definitely

create problems. it does keep the classroom open, but at what? you know, president biden is touting how 95% of public schools are now fully open, but many are relying on volunteers or underqualified substitutes. so in new mexico, the governor is calling on the national guard to volunteer to become licensed substitute teachers as schools struggle to stay open. since winter break approximately 60 school districts and charter schools have needed to move to temporary remote learning because of staff shortages. in hamburg's central school district in new york, staff has worked hard to keep their goal of keeping school open all 180 days. administrators have filled in for principals, retired teachers are being paid to work on a day-to-day basis, and college seniors that are studying education have been hired as substitutes, all of this to keep schools open. but i the stopgap measures, they're not problem-free. >> we have teachers in the classroom for multiple reasons. first of all, because they're

subject matter experts. so having individuals in the classroom who have other duties and responsibilities outside of working with students, you know, during some of these, you know, difficult times, it's just -- it doesn't help learning. >> reporter: i mean, the good thing is, is that these efforts are preventing kids from being forced into virtual learning. so even though they're not perfect, it is doing an important job because we don't yet know the exact effects of virtual and disrupted learning, but take a look at this map right here that you're seeing. for the first time in nearly two the decades, graduation rates dropped in at least 20 states during the first full year of covid-19 disruption and virtual learning. all of this, stuart, this is all happening despite the distribution of 122 billion to schools for covid-19 relief funding. it's leaving experts desperate for a change in our current school system because this is just not sustainable. stuart? stuart: well said. just keep the places open,

please. person-to-person learning, that's how you do do it. mad ason, thank you very much, indeed. now this. parents and students at a los angeles charter school have filed a lawsuit to stop the school's vaccine mandate. i like the sound of this. ashley, tell me more. ashley: yeah. it's new west charter school. it's being sued over a vaccine mandate that prevented unvaccinated children from actually being in class. the suit says a number of unvaccinated students were actually prevented from attending and instead were placed in a segregated area behind barriers. now, in response the school says, wait a minute, six students who did not comply with the vaccine mandate still attempted to participate in class, and when they were refused, staged a sit-in and refused to leave school property. a nonprofit group called let them breathe is representing the students in the legal action and claims the charter school is mandating vaccinations for ages the and up -- 12 and up which

they say is not even fda-approved. what a mess. stuart: well said. that's exactly right, ash. thanks very much. two items for brian brian kilmeade. the first, he's fed up with all these government mandates telling us what to do. second, boris johnson, he's in the hot seat for allegedly partying at 10 downing street. rules for thee but not for me. kilmeade is on the show next. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed.

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watch me. stuart: well, i could make the case that the dow's coming back a bit. was down 700, now down 250. the nasdaq, was down 330, now it's down 250. it's volatility, but there's a bit of a comeback. 10:51 on the nail. you know what that means, brian kilmeade joins us. okay, brian, you're fired up over this ongoing vaccine and mask mandates. my position is i want to have it so it's my choice. the opinion of parents and adults. you want to have the vax, you want of to have the mask, my choice. i think you're with me on. >> stuart, i've been saying this for two years. of course. i mean, all i'm saying is if i follow your science, i would be backtracking for the last two and a half years because almost everything that they have told us without even being humble

enough to say some of this we got wrong, they just move on and pretend as if they didn't say it. most of which they told us has been wrong. and we learned a month ago, scott gottlieb and others go, yeah, the cloth masks, they can only help you 5%. excuse me? 5%? that's why my 7-year-old is doing that? that's why we can't walk in the building without it? oh, and the vaccine, talk the mask off in april, in june we can have cookouts. well, we get hit with another variant which some people said was inevitable, and it turns out the vaccine, you read "the new york times" on sunday, they were shocked in july that the vaccine did not stop the delta variant. oh, okay. now our lives changed, the restaurants are closed, the gyms are half open. so you're not even acknowledging that the information was bad. so this is what i say: find who you trust in medicine, live your life the way you do, choose to do what you do. you know if you have diabetes, you know if you're a smoker, you know how old you are, i imagine, you know and you say here are

the risks, i'm going to get my own resources, and like we do with everything else -- did you get calls from strangers where to eat out over the weekend? what shoes to buy? no. you don't do that because you make your own decisions whether it's amazon or stride-rite down the block. so enough, we are done. and there's so many people they are canceling now. the cancel side with bill maher and barry weiss and joe rogan and aaron rodgers is getting greater than the woke side of howard stern and don hem loan -- lemon. you keep your life in a cocoon. let us make our own decisions. enough. you've already proved you have no credibility with me. stuart: i did warn the audience that you were fired up and, yes, sir, you are fired up. police in britain are investigating a number of downing street parties that happened during a lockdown. the prime minister is under fire for holding events despite the pandemic. it's a case of rules for but not for me -- for thee, but not for

me, but this time in britain it's applied to a conservative, very different than over here where rules for thee but not for me, democrats, nothing happens to me. brian: i watch a lot of bbc and sky news, i want to get a feel for the events especially in you drain, and -- you ukraine, and boris johnson has destroyed pub owners, destroyed the small businessman and woman and told them, you just listen to me. you understand, these are the mandates. meanwhile, he's having bring your own booze parties in his own courtyard. and this is a guy that is so out of shape and was so cocky about it, he almost died when it first came and we didn't know anything about it. so he gets over it and he gets the information that we don't get. he gets the best information with the best doctors and he goes, yeah, get a six of coors, another six of heineken, and meet me in the courtyard, and i promise not to comb my hair. that is boris johnson, and he

wants to keep his job and have trust with the people? listen, i don't do british politics, but this is pretty easy. stuart: it is. one more thing that i'm fired up about a. have you seen a college campus these days? all the a kids are masked up. indoors, outdoors. it drives me crazy. they're the least vulnerable group, and they seem to be scared to death. what's with these kids? >> well, stuart, i'm living it. i have two college students. and on sunday my youngest daughter was forced to get the booster even though she just had it two weeks ago a, and the cdc and the w.h.o. have differing opinions. this school just said if you don't get the booster, you can't come to class. do i really want to go through the college process again? there's no school being permissive. i have another one with the booster, didn't need vaccination, never got it, everyone is forced to do it if you want to continue your education and that whole -- and there's some downside to that too. so college kids are being held

hostage, preschool kids are being held hostage. let parents and young adults be parents and young adults. we are done. stuart: kilmeade, as in brian, join us again. >> go get 'em, stu, thank you. stuart: yes, sir. right in the future, the governor of montana is with us, will cain, general jack keane, kennedy, all of them on the show. the president campaigned as mr. nice guy. well, mr. nice guy no more. our president lost his temper and insulted fox reporter peter doocy. when biden gets snappy when challenged, the country has a problem. that's my opinion, it's my take, and it's next. ♪ now relax and get on your back. ♪ if you want to scream, yeah, let me know and i'll take you there. ♪ get you going like, ooh, baby, baby ♪♪

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or visit cochlear. us/connect. outcomes may vary. please seek advice from your health professional. ♪♪ i'm so excited ♪♪ and i just can't hide it ♪♪ stuart: 11:00 eastern time tuesday january 25th. check the markets, a 400 point drop for the dow industrials, 350 point drop of the nasdaq composite. taking it on the chin again, i don't see a single winner among the major technology companies, all of them down again.

the treasury yield not moving much today. that is up a little from where it was not long ago. bitcoin 36,$000 a coin. that's where we are now. now this. the president campaigned as mister nice guy, calm and stable uncle joe. he would set a new tone. he would be the oil to pour on the troubled trump waters. mister nice guy is no more. you know what i am talking about. if you watched fox in the last 18 hours you know our president lost his temper and insulted fox reporter peter doocy, call the stupid s ob. peter simply asked a valid question about inflation and at insult was the answer. jackie heinrich asks about russia, biden called it a stupid question.

insulting and dismissive. what would he say if the media treated him like they treated trump, for four years white house reporters routinely screamed at him and trump never shied away. this president doesn't take many questions and when he gets when he doesn't like he turns nasty. when biden gets snappy when challenged the country have a problem especially when russia threatens the first land war in europe since 1945. it doesn't inspire confidence when an angry old man is in charge. you never know what he might do or what he might say. three more years of kamala harris waiting in the wings. third hour of varney just warming up. peter doocy, the last 24 hours, the president called your cell phone, what did the president say? >> he said it is nothing

personal, pal. we had a laugh about it. i made sure to tell him that these events i am going to always be trying to ask something different than everybody else and he said you've got to. and so i know he is a very busy guy especially with everything going on internationally right now not to mention domestically but i appreciated he called and honestly i was just surprised because over the last couple years i spend so much time coming up with questions and doing research just in case i can get the president for a second and because he said he was only going to take questions on inflation yesterday the thing that got under his skin was something i had spent all of 10 seconds thinking about but it is all good. stuart: i just want to say i think you handled it with class and style, you are class act, it is an honor to have you on this program.

see you again soon. that man is will kane. what does this tell you about the president in a crisis? >> speaking of honor and class we welcome will kane, it tells me as you point out here is a man who handles insult with grace and grace usually comes from confidence. i don't understand how calling someone a stupid s ob is nothing personal. it is like somebody saying no offense but i don't like your face. i don't understand how i am not supposed to be offended by that statement. don't understand how calling him a stupid s ob could be anything but personal but that is his escape -- stuart: at this moment in time we are looking at the first land war in europe since 1945.

we have a crisis on the border, inflation, you name it and this president loses his temper. he's frazzled and that bothers me. that really bothers me. >> and it should and it bothers me about the time played on the american people because in the end i agree with peter doocy this is forgiveness and bygones will be bygones and we move on to more important issues. however it is also illustrative of the con played on the american people, he is not mister nice guy, he's not that you are he promised to be. he's not the man who said he would fire someone if they treated a colleague with disrespect. season of those things. he's not the man to lead us to racial healing when we once eulogized a member of the kkk, he's not someone who told the truth about covid. for the better part of the year the whole thing has been a fraudulent exercise in a con on the american people, now we are sitting at a moment in time to

your point where possibly possibly at a point of international conflict and we are being led by who knows? a figure we were duped by, who knows? whoever needed to be to be elected and we don't know because all we got was a fraudulent bill of sale. all we got was good, pretending to be something else, we got a bait and switch. stuart: i will change the subject dramatically with your permission. tom brady speaking out on rumors of his retirement. >> football is important in my life, i care what we are trying to accomplish and the biggest difference now that i am older is i have kids and care about them a lot. it is what we want as a family and spend a lot of time and figure out in the future what is next. stuart: rob gronkowski

questioned another year. is he going to stay for another year or will brady retire? >> i would give you the hopeful and pessimistic message of your tom brady fan. i never heard him talk like that. i heard him resolute about playing another 3 to 5 years. i always expected him, and he already has broken every actuarial table, every curve, he has flown over the proverbial cliff, already performing at an age where no other quarterback was capable of playing at this level and now he is saying i don't know. not as strong as resolute as i've been in the past in my commitment to next year but on the other side on the positive side, he's an inspiration. he is an inspiration in my mind, every person in the nfl is talented but workmanship,

natural talent, discipline over god-given ability. he is an inspiration in terms of undoing this no matter who says i cannot. doing it longer than anybody said i could. he's been an inspiration. i hope he continues to. i want him to honor his family and do what he has to do, you have to, i have to, we all have to. i hope he continues to inspire us and i'm sure he will. stuart: that is a very good angle. you are all right and we will see you again soon. thanks. back to the markets. you got to do it because we are on the downside that it wasn't as bad as was an hour ago. mike murphy is with us. are you saying do not sell? is that what you are saying? don't do it. i think we got an audio problem. we lost your audio. you can hear me but we can't hear you. >> is that better? stuart: now we have got it. back to the beginning.

what you are saying is do not sell, do not sell. don't do it. >> if you go back in history there has never been the right time to sell the market meaning the market has always after a selloff recovered to new highs. anyone sitting at home, yesterday was a lot of panic in the street. selling out and waiting for a pull back to back in a by again and make more money doesn't work. never had a pull back we didn't recover from. we are down 10% in the s&p, you stick to the plan unless this is making you too uncomfortable. if you can't have these pullbacks your portfolio is not structured properly and have too much risk the 10% pullback should not because for a long for investors. stuart: what worries me at my age is the market goes down it stays down for a significant length of time. i'm old enough to remember the

1970s. that is what happened, ron market for a decade. that is what worries me but presumably you are saying that's not going to happen this time around. >> if it were to happen, there is no other place to put your money in my opinion with yields where they were, you would rather be invested, you're not going to invest in crypto currency. you can have a prolonged period of the market that doesn't go anywhere but history tells you overtime unless you get that time incorrect like the 70s overtime the market does go higher so you have the weather those pull backs to get the returns of 10% a year the market has been giving you. stuart: you are very consistent and that goes down well. don't sell, don't sell. thanks, see you again soon. now, we've got apple moving down 2%, the story please. >> they reports on thursday, widely held stock in the s&p

500. we one the most -- >> 7%. two schools of thought, wedbush saying apple, the chip shortage, keeping their price target. golden says watch for commentary to be cautious. they see momentum slowing down because demand was pushed forward, giving them $142 price target. those are two schools of thought on apple that has come down from 11% from highs. the energy sector just turned positive. oil prices are up $84.63 a barrel over potential supply disruptions in europe. stuart: energy price inflation, $84 a barrel. lauren: we show you oil majors, chevron, doing well. johnson & johnson, their covid vaccine, they see sales rising for that this year as much as 46% with could generate revenue of $3 billion. it is good for them.

one of the reason stock is up one.5%, the market is down sharply today. it does pale in comparison to pfizer. they are expected to take $3 billion this year but a big win for j and j. it is hard to find. stuart: the chief economist at goldman sachs says wage gains need to slow down. why is he saying that? lauren: we can't afford it. 5% to 6% wage gains are unsustainable because it creates inflation in other parts of the economy. where does it say? nationally hourly wages are $31.31 an hour up 4.7% on the year, we are near the 5% trigger point for him. if you look at what goldman did they hyped pay and other expenses and compensation to nearly $18 billion last year. jpmorgan paying first-year bankers, just got a raise.

stuart: straight out of college. lauren: the banks are making a lot of deals, these kids are educated, smart, everybody serves to make money and you get to the point it is not sustainable. stuart: i know a young man 22 years old got a college degree. he's a truck driver, 100,$000 a year. i know him well. he's probably watching. coming up, fast food chains bringing back their value meals but don't expect the deals to be the same. the leftist media blasting bill maher after he railed against coronavirus restrictions. >> i don't want to live in your paranoid world anymore, your best paranoid world. >> out there you be so flippant. stuart: kennedy is here to take that on. president biden putting 8500 us troops on heightened alert to deploy in europe. jack keane is here to discuss that. jack keane is next. ind. hey mom, can i go play video games? sure, after homework.

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stuart: more than 8000 troops, us troops on heightened alert for possible deployment to eastern europe. what is the latest from the capital of ukraine? >> reporter: the us is heading efforts to head off the russian invasion of ukraine, there are new words of ominous invasion plans. officials say 30 train loads of russian troops are in neighboring belarus, 16 russian battle groups around ukraine, some russian advance troops are in the country, this has efforts to evacuate americans, fox news has learned 200 american diplomats and families leaving this week, there are

20,000 americans in ukraine. the tone on the embassy conference call urgent. the ukrainian government is trying to tap things down. president zelinski says the situation is under control. russian official says the us and ukraine's problem. according to one of the best connected journalists in town, the editor-in-chief of the gift post, full-scale russian invasion with devastating effects could be likely. take a listen. >> they could cause serious damage, missile strikes on key targets, security centers, government buildings, paralyze the infrastructure, so panic. >> reporter: with what specific aim? >> the aim is to so panic's but the country into those who will be ready out of desperation to reach accommodation with russia.

>> reporter: so panic, alarming words, pretty credible source as we get new word of more us military weapons arriving in ukraine for the army maybe just in time. stuart: thanks very much. let's bring in general jack clean. you heard that, you have 30 train loads of russian troops in belarus, 60 battle groups around ukraine, looks like an invasion is imminent. you agree with that? >> i don't think so. the troop deployments to belarus are not complete yet. they won't be complete until as late as the second week in february. the ground is certainly ready in terms of it being frozen for heavy army warfare but putin is off to the beijing olympics on february 4th.

that is his colleague and cohort on the world stage until february 20th. he spent billions of dollars, a huge propaganda victory for president xi. i don't see putin distracting from that by starting a major war in europe and taking all the media attention from the chinese. i don't believe it is imminent. we are entering a fairly serious diplomatic phase because the united states and russia and european partners are talking again but this time talking a little more seriously in terms of negotiations. there's never been negotiations before. everybody stamping out what it is they want and what it is they won't do. now we are beginning to talk about where the middle ground is. that tells me something about putin. he still looking for concessions short of using military force. he will take that deal every

single time and those forces, the consequence of those forces being there was to intimidate and get concessions out of the united states and the west, he's not given up on that. we can't take lightly the forces that are surrounding ukraine and what they can do what the reporter described as obvious, they can take control in ukraine and change that government and the entire behavior as a result. stuart: half an hour ago we interviewed kurt voelker who worked with mike pompeo on the ukraine situation. he said we, america should immediately deploy those troops and put sanctions in place and take action now. what do you say? >> i agree, president biden made a serious strategic error here, that is not to use

preemption action prior to invasion to deter. he has gone to the option of using the threat of consequential action after an invasion to deter the invasion and that has always been fundamentally flawed in nato counties, we should have put increased american trainers inside ukraine. should increase the training capacity. we are giving them small arms, nice to have certainly, antitank weapons since the trump administration. what do they want in addition is what we should of been giving them. missile defense, anti-drone missiles, antiaircraft missiles, artillery and mortars, consequential items that would truly make a

difference and get putin's attention and put the troops in our allied countries to reassure them and send a message to putin these not going to move on nato in any way and slaps and serious economic sanctions and tell him we remove those economic sanctions as soon as you de-escalate. that was a strategic mistake. stuart: but do it now. always good to talk to you. see you again soon. we have some exclusive footage for you available, obtained by fox news that shows federally contracted buses dropping off dozens of illegal migrants at a parking garage in brownsville, texas. black tarps were set up with makeshift signs saying border patrol drop off. you are seeing it.

that is happening just today. the dow is down 300 points because it was 700 an hour ago. still had a judge in new york state has struck down governor "varney and company" -- governor hokul's mask mandate. telling progressives to pick up a weapon and get involved in the war for democracy. >> it is a war and i have to say they have won some battles but we have to keep our eye on the war and everybody needs to pick up a weapon and get involved because this is the safety and lasting of the country. stuart: pick up a weapon? kennedy is on that story after this.

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stuart: you are looking at somerset, pennsylvania. looks cold and is cold, 23 degrees. i've got to show you the

market, not as bad as yesterday, the dow down 300, look at the nasdaq down 343. come back in again, tell me about nvidia. >> having a hard time getting global government approval for their $40 billion arms deal. according to blaming reporting, nvidia has been letting go of this arms deal, arm is the chip designer to design to chip the goes with iphones and ipads, china, the ftc in the us and other government agencies voicing concern that if nvidia, the world's largest chip meter buys it, it would have too much product power and control. concerning the british government leaving their concerns. i bet analysts notes and they said to them with nvidia turning up 380 last month that this is in that big a deal.

stuart: the high for nvidia at 346, you may be right but the bottom line is it is way way down from where it was a couple months ago when we were talking about it. what about nike? >> upgrade today, wells fargo with 175, 20% upside and calling it a rare buying opportunity after the selloff. it has been one year since game stop became the most famous stock on this planet. the retail investors shorting game stock but the -- it peaked a year ago in the 400s. stuart: how times change. mean stocks are changing dramatically. the view cohost will be goldberg blasting bill maher after he sounded off on pandemic fatigue. paranoid world anymore, you go

out and it is silly now, your mass, your card, your booster, they scan your head. >> how dare you be so flippant, man? stuart: you should see her face when she saw that, don't be so flippant. >> i was supposed to live in a bubble forever when things aren't working? breakthrough infections are off the charts. stuart: obey the rules. stuart: i obey the rules, i masked up, got the vaccines, got covid twice and still, water tastes like salt. it is so annoying. people are tired. single moms of been hit hardest because they had to drop out of the workforce and become dependents of the state or have to hope their kids are fine, a bag of ways and call it good, can't keep kids out of school, can't keep moms from the

workforce, can't keep people masked when 90% of masks allow the virus to get through. stuart: you make too much sense. listen to this. msnbc host tiffany cross had this message to fellow progressives about the war for democracy. role that tape. >> it is a war and they have won some battles but we have to keep our eye on the war and everybody needs to pick up a weapon and get involved, and the country. stuart: pick up a weapon. i would've chosen a different set of words. >> you and have rhetorical weapons and you can say intense things and inspire people but if you are telling people to arm themselves and go attack people they politically disagree with you are lobbying for civil war. >> was to get pushback? >> not from m s nbc.

i see the stuff that gets on the air, i make a lot of indecent jokes and i get a text every once in a while, now i know they are watching. i don't know they do that at msnbc. stuart: up again organization unfortunately not many people are watching. >> north korean propaganda, don't agree with it but at least it is entertaining. stuart: give me a show, you've got a show called kennedy and it is on foxbusiness of course monday through thursday, 7:00 pm eastern. i am with you. see us again. a new york judge has struck down the state's indoor mask mandate calling it unconstitutional. david lee miller is in new york city. after this ruling as of today, our masks still required and why? >> the more things change the more they stay the same and

masks are still required and yes, a lot of new yorkers are confused about the fast changing rules. the latest ruling, new york state is appealing the judge's ruling on monday that struck down the health the private's mask mandate, parents who were upset with the fact that kids masked in the classroom that went to court, soon after the judge's ruling, the mandate was illegal, many school districts in the state said masks would no longer be required. mandate opponents called a major win but overnight the state filed a notice of appeal which will be mandated and further complicate matters the judge's ruling does not impact local mandates such as those in effect in new york city. and his ruling the judge did not refute the need for masks but said enacting a statewide mandate is the responsibility of the lawmakers. a portion of his 6-page decision reads in part, quote, this court does not intend his

decision to question or otherwise opine the efficacy, need a requirement of masks as a means or tool in dealing with the covid 19 virus, this court decides only the issue of whether the subject was properly and acted and whether the same can be enforced. as the legal battle gears up, governor kathy hochul says the number of hospitalizations are on the way down and unless it is extended which it was at least once in the past, the mask mandate here in new york state is going to expire one week from today. stuart: the authoritarians have got it from one week today. thank you very much. check those markets one more time. it is down one.4%, 26 of the dow 30 are in the red. that means they are down. selloff continues.

the nft sensation coming to the food industry with the first nft restaurant opening new york city next year. the man behind it is here on the show next. ♪♪

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stuart: if you're just joining us the market has been open for 2 hours and 10 minutes, we are in the red across the board. the nasdaq has gone down more than it was a few moments ago, down another 3%. nasdaq is in full correction or bear market territory. the financials, another group that is down across the board, big tech is down, financials down, single group of stocks that is not way down as of now. that is where we are on tuesday morning.

david radowicz , great to have you here, tell me if i've got this right. you are opening a club. you can't get into it unless you own crypto and the crypto is an nft that gets you win. have i got it right? >> that is correct. stuart: why are you opening next year? that's a long way away. >> it will take time to build out the space and find iconic location special enough for this project. it is a very ambitious project and we are partnering with one of the best developers in manhattan, 10,000 to 12,000 square feet, a large cocktail room, private dining room, outdoor space, it will be nestled in the back of the private dining club. stuart: it is a club for crypto

folks, for the crypto guys. >> not only for the crypto guys. it is for food and beverage enthusiasts. stuart: you can't get in unless you've got crypto. >> you need to purchase crypto currency and then use the ethereum to buy our nft which is a remarkable innovation. it changes, typical membership model which is reoccurring fees and essentially an ongoing expense when you go to a country club or a social club. nfts allow you to own your membership so it changes membership to an asset you can sell and use, you can transfer and you could lease if you are not in town and won't be available to use it. stuart: that little nft is investment. >> it can be a passive income

strategy. it can be an investment. our project is all about utility. this isn't about speculative investment or crypto appreciation that might happen but the people joining the club are interested in using it and enjoying a progressive club that is focused around food and beverage. stuart: when you use the word progressive you're making a political statement. >> i did not mean it that way. it is going to be a very innovative club with beautiful food and beverage by josh connor hamlin. stuart: you are back on the show as long as you straighten out the progressive bit. >> i am happy. stuart: glad you came to share it with us. come back later in the year and see how you are doing. >> appreciate it. stuart: consumers changing their shopping habits because

of surging prices. what are they doing differently? ashley: everything from cooking oil to frozen food american consumers trying to find creative ways to lower their food bills. consumer behavior has changed dramatically sincerely days of the pandemic when people were splurging on food thanks to extra unemployment benefits, federal stimulus checks, i will take everything. now with high inflation, the same shoppers looking for discounts and lower costs and saving programs like automatic delivery that gives additional discounts. other shoppers buying groceries in bulk, that's becoming more common and comparing prices of multiple retailers online before shopping in person. the index for meat, poultry, fish and eggs rose 12% from 2020-2021, we all know those prices have not declined at all.

stuart: some fast food chains are making changes to their value meals i guess. the price is going up. that's it, isn't it? ashley: it is because higher costs are prompting fast food restaurants to reevaluate those value meals. in some cases discontinued value meals are being brought back at higher prices. reports say little caesar's increased the price of the top and ready pizza for the first time in 20 years while popeye's brought back its big-box deal for the first time in four years while basting the price by one dollar. analysts say restaurants are trying to recapture the lost traffic that is not returned because of the pandemic and discounts, one way to get consumers back in. according to some data from july to september last year, 17% more restaurants offered value meals and in the same

period breakfast value meals, my particular favorite increased by 20%. there you have it. stuart: glad you share that with us. a full english breakfast, you couldn't have that as a take away. well said. coming up, what is behind the surgeon montana's economy because they have no mask or vaccine mandates? i will ask the governor after this. 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.

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stuart: montana's unemployment rate record low, 2.5%. the economy is booming. governor gray good -- greg giaforte. do you have any mask or vaccine mandates in your state? >> thanks for having me on. the answer is no. i've been in office just over a year and we got rid of the mandate, we believe in personal

responsibility and outlawed vaccine passports. it is illegal in montana to even ask if you've been vaccinated or not. stuart: sounds like you are a northern florida, would you accept that definition? >> i think it is pretty year here. the original club to set the record straight and we are open for business and i was really pleased with the results. it shows what happens when you let people pursue their dreams, lower taxes and reduce regulations. we are creating a sanctuary for freedom and free market. as you mentioned in december we hit the lowest unemployment ever on record in montana, 2.5% and we saw a record new business creation last year with 50,000 new businesses started, 30% up any prior year. stuart: 50,000 new businesses

in montana. where they mostly mom and pop restaurants or retail outfits, that kind of thing? >> all of the above. we are a small business state. we have people who love freedom moving to montana and creating businesses and prospering. we have many montanans who were forced to leave coming back home bringing jobs with them. the result is more people working in montana today than in the history of the state. stuart: what about people who moved from california or washington state or illinois or new jersey or new york, you don't want them to bring their politics with them, do you? >> it is important. we've been very clear, we will protect constitutional rights of the people here. stuart: lay the law down, don't you bring your politics with you. >> that's why we are recruiting

montanans, there are patriots all over the country who want to experience freedom again. mandates don't work. we have proven that. our economy is booming. stuart: do you have any state income tax? >> we do. we were able to lower it by $120 million across the board and the last legislative session. we have more work to do, there is no sales tax and we are working to reform our tax code and that is why we see an uptick in employment and drop in unemployment. stuart: we love seeing success on this program and you are a success from a great state, see us again for an update. please. >> you keep promising to come see us. we have room for you. stuart: your state is gigantic and one of these days i will get there. thanks for seeing us again.

update the markets and still on the downside across the board, you are down 300 on the nasdaq. big tech all down. microsoft in particular report after the bell today, they have microsoft down $10, 2.5% at 286. time for tuesday's trivia question. i haven't got a clue. what was the first creature sent to space? have a choice of four things which i did not know the answer. we will see it - knows the answer after this. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. . .

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stuart: here is the tuesday trivia question, i will read it again. what was the first living creature sent to space? ashley, want to take a guess? ashley: i have absolutely no idea i looked at fruit fly and laughed, that is probably answer. i will go with dog i think but i have no idea. stuart: i was going to go with dog, the dog russians sent into the space. it was in the '50s. the answer is the fruit fly. wait a minute. here is the explanation this, is cheating actually. february 20th, 1947 fruit flies were launched from new mexico in a new v-2 rocket. the rocket traveled 67 miles into the air before parachuting back to earth. why they had fruit flies on board i have no idea. do you have any explanation. >> by accident, probably.

stuart: i wonder if they bred up there 67 miles up. good stuff, ash. ashley: they must have been pretty start telled. stuart: market is still telling off, down 400 on the dow look at nasdaq down even more. down 3%. jackie deangelis in for neil. it is yours. jackie: i'm jackie dee dee in for neil cavuto. this is "cavuto: coast to coast." we'll foal the market with every twist and turn. bitcoin losing almost half the value, is this buyer beware or buy the dip scenario? our experts are here to break it down. we expect to hear from the white house this hour as the