a marketing side, very machiavellian. maria: there you are sitting there with warren buffett eating mcdonald's big macs. it has been a pleasure to be with you. we will all be watching the federal reserve, we take you there live on foxbusiness but first "varney and company" begins right now. and and it is volatility. and big gains the dow 370 points, it is down 5% just this year. the s&p is up 67 points.

it down 8% in 2022, nasdaq going up 300 points, go down 13% this year. that's a nice comeback this wednesday morning. what's going on? this afternoon jay powell tells us when he will raise rates, you have to pay close attention to every word he says. he's rarely clear. there's a whole cottage industry of fed watchers will pass judgment and probably move the market later this afternoon. apple the big one reports in advance, last time i checked, it was up 5%. tuesday afternoon, yesterday afternoon it was microsoft, the cloud business did well, even the old line pc market did well and the outlook is bright. stock is up, can't get enough on screen but it is up $14, $15 close to 5%.

let's see if big tech can but a floor under the nasdaq selloff. oil is $87 a barrel. i would love to get it on screen. this is where the russia ukraine story comes in. officials are talking about sanction vladimir putin personally and a cyber attack response from russia on us. there is speculation and that is all it is that russia the lazy invasion until china is an with the olympics. it is 3 days after the olympics end. note that date. on the show today, you will see the latest example of soft on crime, brazen broad daylight theft in new york city. it happens so often to that store and it is closing for good. and the 0 covid policy won't work and it is hurting us. january 26, 2022, "varney and

company" is about to begin. i will start -- ♪♪ money ♪♪ get back ♪♪ i'm on -- stuart: it is irresistible to play that song, money by pink floyd, at some point in any financial show. that the empire state building, cold and snowy this weekend. i will start with microsoft. microsoft is up 6% premarket. it is up on strong earnings yesterday. lauren: $18 billion revenue and more is expected this quarter. that's why the stock is up 6%. outlook squashed fears the growth in the cloud segment was

cooling. for microsoft it would be cooling for others. that's not the case. what's next for microsoft? could be unlikely is gaming. that 11% of revenue, active -- activision is the deal that could room. microsoft posted a $51.7 billion outlook in sales, credit suisse gives the target. stuart: i was watching when it came in and microsoft fell out of bed, $20 and the call arrived at the bright outlook in the future and up she goes and got the board back $17, nearly 6% higher. shah gilani. has microsoft put a floor under the market? >> it has until jay powell speaks this afternoon. barring him saying anything hawkish which i think he may tend to stay away from, apple

probably tomorrow will beat expectations and the two will create the flow you are talking about in the tech sector moving higher and the market leg up back to where it should be in terms of the dow going up, 36,700 area which is an important area for the dow. we can get another leg higher. stuart: this is another example of by the dip in select stocks, you like microsoft, apple, anything else? >> i like a lot of stocks that have been on sale for roku, we are buying a couple others including zoom communications is on sale down here. there are a few that have been hit because they are in a lot of ets. prices have come down and redeemed units of those. the underlying shares have to be sold. that puts more pressure on

some. these companies, roku for example, zoom is another one have stellar balance sheets, tremendous profit margins, shopify, they have hired to go so we are looking for opportunities on stocks that have been sold out too hard and fast. stuart: suppose this afternoon jay powell comes on, probably won't but pounding the table on the rate hikes and may say i am cutting back on money printing early. if he said that, if he was a genuine hawk, what happens to this rally? >> if he is overly hawkish we see a 10% swoon in the market and it will probably happen quickly. at that point the fed has to back off no matter what they say and we might be a bounce, but anything overly hawkish which is unexpected could tumble the markets a good 10% at least. stuart: it depends on the words he uses and the tone of voice

and how they pick up on it. certain key words, the algorithms sell or buy, a crazy situation. on the 10 year treasury 178. thanks very much. we will be checking the said this afternoon. on the political front president biden's approval rating has dropped to 41%, the latest pew survey, 39% in a harris poll, those are terrible numbers and speaker pelosi has announced she is running for reelection this november, she turns 82 in march. mercedes schlapp with us. does speaker pelosi running for office again help or hurt the republicans in the november elections? >> with nancy pelosi, it helps the republicans because not only will the republican party

run against biden's failed policies as we've seen so far. nancy pelosi's policies whether it be mostly on a reckless spending component or the fact they have been pushing radical agenda items throughout this past year on a variety of issues. an extra one they put the blame on, for the lack of economic prosperity in america like inflation and heard the democrats and help republicans. stuart: the president dropped the vaccination mandate on private companies. let's like a change of course. trying to charge a new direction on covid. >> the political team within the white house is looking at poll numbers and saying we need

to change course. we called it the reset button. they are looking at the vaccine mandate, we tried this route, time to change it. this is something that goes beyond politics. the majority of americans disagree with the vaccine mandates, seeing cities like new york city and even here in washington dc where it created an enormous amount of stress on small businesses. and and and do a more comprehensive strategy including how can we make sure we get the right therapeutics in place in addition to the vaccine to make sure the american people have options, hopefully see a waning of this

pandemic as we enter into the spring. stuart: we should change course but how big a course change you make is another story entirely. thanks for being with us. president biden meets with the ceos of 10 major corporations. what does this have to do with the build back better? lauren: everything. he will try to sell it to businesses. we heard from the president trying to sell it to us, the american people, now he is going to switch that. can he sell it to the corporations telling them your tax rates are going up but it will be worth it. there are easy tax credits for automakers. salesforce, microsoft, hp and others. they are expected to highlight why they think build back better will make the us more competitive and increase worker productivity while not increasing inflation. house majority leader steny hoyer says the legislative process will help lawmakers to get to a version of build back

better that can pass chunks of build back better. stuart: only time will tell. there are some parts of build back better that presented alone on their own would be attractive to a lot of people. >> universal preschool. stuart: what about the child tax credits, money in your pocket for millions of families with no tax increase, that would be popular. it is a big question. wednesday morning rebound, 300 for the dow, up 300 for the nasdaq. not even the hospital is safe, disturbing video shows a gunman opening fire in an emergency room waiting area forcing children to duck. germany urging president biden

to think carefully about sanctioning russia. the kremlin control their energy supply. of course they are nervous. biden so there's totally unity but looks like a split europe to me. i ask morgan ortagus about that, right after this. ♪♪ nice! you got it. and thanks to voya, i'm confident about my future. oh dad, the twins are now... ...vegan. i know, i got 'em some of those plant burgers. - nice! - yeah. voya provides guidance for the right investments and helps me be prepared for unexpected events. they make me feel like i've got it all under control. [crowd] yeah! because i do. ok, that was awesome. voya. be confident to and through retirement.

first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling

and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. stuart: that is saint augustine, florida, only 55 degrees this morning. that is cold in florida. the dow is going to be up 300

but the nasdaq up 2%. that is a rebound. let's get to the russia story. ukraine's president zelinski urging people to stay calm say in a russian invasion is not imminent. let's go to amy kellogg in moscow. >> reporter: the foreign minister sergey lavrov is waiting responses from the united states, if their security concerns are not actually met he says russia is ready to take appropriate measures. what they are we don't know but i listened to a fascinating chatham house talk on the record. a prominent russian political scientist, very respected in moscow, was saying he does not believe russia wants to invade ukraine. it would be counterproductive but if russia does not get it security concerns met, a lot has to do with the nato expansion then you can expect

russia will keep those troops on the borders for some time like a damocles sword. he said you could expect to see things like more russian submarines in the atlantic and greater russian military cooperation with china. china according to him has given russia the green light to take the stand it is taking. meanwhile, vladimir zelinski, the ukrainian president says nothing looks imminent, everyone be calm. president biden said, has in leading people to believe anything could happen at any time and president clinton himself could find himself under personal sanctions, biden said yesterday, with bashar al-assad of syria and nicholas maduro of venezuela. putin's spokesperson said that would not be painful for putin at all. it would be politically disastrous and those who talk

about sanctions don't understand what they are talking about. a russian party is asking prudent to send troops to the breakaway regions of ukraine which have been largely under russian control since 2014. that would be a significant move where it to happen. they were pressing for the russian government to recognize independent entities and if it happens could be extremely controversial. with russian troops already there everyone agreed from ukrainian side and the russian side that it is something of a trojan horse as long as there is a russian presence in ukraine, they can turn up the heat anytime they want. stuart: amy kellogg, thank you. morgan ortagus joins us now. i want to raise this issue.

germany wants exemptions from any sanctions that might be imposed on the russians. where is the unity? president biden says totally unity but if the germans are hanging out and not going along with sanctions because they are scared of their energy supply being cut off there is no unity. >> that is the problem with the biden administration green lighting board stream 2 that we sanctioned in the trump administration. we are on the brink of war today because of a week president. why did we not get ourselves involved militarily in stupid wars during the trump administrative? because we had a strong president and week presidents are tested by the despots and rogue leaders around the world. what you are seeing today is president biden and his team have consistently confused strengthening nato with appeasing germany. it makes no sense that they

would want to make themselves more energy dependent on russia while claiming they want to strengthen nato, the alliance. that's one of the reasons why it is incredible he difficult for vladimir putin and the russians to believe biden's threats because they know the allies in the alliance, there is no teeth behind it. stuart: plenty of speculation and that is all it is that we are picking it up from kyiv in ukraine that prudent will not do anything in ukraine until after the olympics because he doesn't want to mess up his ally xi jinping's performance. the most likely date, this is speculation, for an invasion would be february 23rd, three days after the other pics end, russia's national military day. >> there's a lot of logic to that, hard to know what vladimir putin is going to do but he did invade after the other pics during the bush administration, he invaded georgia, he has a pattern of that behavior. hard to predict what he is going to do but the question is what does he do between now and

the end of february? what concessions is he going to get out of the biden administration and out of the west? what they should have been doing is what donald trump did which is he was a strong president, sanctions whatever he needed but this is how you get yourself into big wars, when you have weak leadership and someone rogue dictators think they can roll all over. stuart: you think we are on the brink of war? >> i hope not. that's not something any of us want and ukraine is not a nato ally so american troops should not get involved but strengthening nato is not appeasing germany or the french. strengthening nato means taking tough actions donald trump took, demanding they pay their fair share and demanding it is a real and strong alliance that is credible in the face of threats from russia or china. stuart: weakness can bring more. morgan ortagus, that is the way it is. thanks a lot.

got to take a look at those futures wednesday morning. nice bounce, the dow is up 200, the real bounce is the nasdaq up 300 points. that is futures, "the opening bell" is next. ♪♪ what you want ♪♪ i've got it ♪♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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stuart: you are looking at the big tech companies, premarket quotes are all up. let's concentrate on apple reporting tomorrow. is it a blowup report? >> it will be pretty stronger. estimates are between 117 to $118 billion, we are seeing a lot of growth on the iphones, 23% of market share in the last quarter, a couple years ago at 10%, the luxury brand, they see sales up for the mac books out there. a strong performance and some upside as people are looking at

what is happening next but the other story will also be what is happening with the services revenue and service revenue growth. a lot of analysts are focused on adding investors see this is an area that will grow to 25% of revenue by 2025. when you look at the price to sales ratio, it is 7.6, so much better than the rest of the market which is 30.7 for a lot of tech companies. looked like a pretty good quarter. stuart: is it a strong enough report to recall what they are doing going forward, strong enough to keep the floor under the market? >> combined with what microsoft is doing, for it is a, the answer is probably yes. the reason is apple hadn't been forecasting what their earnings future looks like, putting hard-core cast on future quarters, you will see that. the answer is not the earnings.

big tech earnings are going to be good and the question is what are the forecasts for the next two courtesan that is what people are looking at. stuart: this is a huge dip for big tech. 2022 is a huge dip for the entire group. is this dip to be bought now? >> i would buy the if you're looking long-term. you are completely right, 600 plus publicly traded company, $26.1 trillion, probably eight weeks ago, sitting at $23 trillion market cap. that's a huge loss but the correction and what happens in the fed meeting today are going to be good indicators along with earnings. that should hopefully provide a floor to the tech wrote that is going on now. a caveat is the fed. if this afternoon they are really hawkish and pounding the table and raising rates, but that upset the big tech rally? >> when it gets to 50 basis

points and we are in the midst of some kind of incursion in ukraine and potentially taiwan. stuart: a half of one%, that would upset everybody. ray wong, see you again soon. 15 seconds until the market opens. we are confidently expecting a bounce after all the recent selling especially the nasdaq and especially big tech. 3, 2, one, we are off, we are running, wednesday morning. right from the start you are going to see a healthy move up. looking at the dow 30, left-hand side of the screen not all of them are up. eight or nine down, the rest are up. a bit of a split among the dow

30 and the dow has opened 270 points. the s&p is up one.5%, solid gain there. here's what i want to see. the nasdaq. what is happening to technology, nice gain indeed up 2.5% but the nasdaq is where all the selling has occurred. the market is open and here's what is happening on big tech stocks. micro soft is up $17. i am squinting but that is 6%. that is a solid rebound from recent losses. up 6.one%, strong, solid second-quarter earnings. with guidance, that is what putting this thing up. >> guidance to start this year. that initial negative reaction which is surprising, solid earnings report, is it better on sales? the cloud division, growing up 45% plus which is fantastic but only meant wall street estimates. as you know, in a volatile trading environment, the nasdaq is down 10% and on the earnings call you saw that stock

turnaround forecasting better sales the start this year and is your cloud growth accelerating 2022 but microsoft on track to have its worst month since 2010. you have to go back 11 years and we are down 14% until today and that 4% recovery, you must love the leaderboard today. stuart: i have been feeling the decline. apple is up 2%. did the smart phone break a record in china? >> it will be a big indication as to what apple will report. most forecast $100 billion blowout holiday sale quarter and you have this report that apple grabbing record market share, 23% of the chinese smartphone market, number one

top-selling phone maker was 1.3 billion customers, the first time apple has been number one in china in we 7 years. the iphone 13 is flying off the shelves. huawei has been crippling us sanctions. axis us chips. apple, the pricing point, a lower starting point which helps in the country which has per capita income lower than the us. stuart: tesla is a tech stocks, they report today. what should we be looking for? heather: we know most of the numbers were preannounced, 900,000 cars last year which is a record year for them. that should translate to $17 billion, likely record orderly profits for the electric carmaker but earnings,

the giga factories in austin, berlin, does election jump to 50%, shanghai to turn a lot of big cars too. stuart: i was looking at the early morning earnings report and i saw boeing, cross. i saw them come across and they were sharply lower to come back a bit now. what is the problem for boeing? >> $3 billion charge on the dream liner production, to fix the manufacturing problems. that means no dream liners were delivered for the past 15 months. $4.5 billion and a third straight year of losses, that's a big problem and the good news is boeing is making positive cash flow once again. they have more money to reinvest. stuart: no dream liner sold in the last 15 months.

i would like to see their dividend. heather: streaming growth is great, dividend 6% these days, pretty good dividend player but hbo max and hbo add 54 million new subscribers, in the last one for 2021. over 880,000 subscribers to see what happens when at&t spins out warner a video which will merge with discovery in the last half of the year. they don't get the streaming bounce anymore so they have to rely on the broadband. stuart: streaming is under pressure because there are so many in the field and they are raising prices. how many streaming deals as each want and need? i say four. >> four or five and are they

willing to pay for all of them? a lot of bundling taking place, who offering the bundle of disney plus and espn plus. i agree there is a big change in the streaming world. stuart: mattel, are they going to make toys again for disney? that the deal. heather: this is a great deal, a jump for the barbiemaker, to make elsa and other characters from the disney princess lineup which i'm sure your family with, mattel lost the liquor license to hasbro in 2019, terrible to -- it resulted in change in leadership, hasbro is not doing terribly after losing the license. they will extend their deal with star wars and the indiana jones franchise. stuart: draft kings, gambling, morgan stanley says that stock is going up big time. what does that mean?

heather: 60% upside, worth $31 in their view. draft kings have come down a lot. they approve, more states improve online sports betting. mobile is key to growth and morgan says new york state is a great example which had a fantastic stronger start to mobile gaming and online sports betting. not just draft kings but upgrading to nationals, $71. stuart: 3 or 4 guys sitting next to me have their phones out and already gambling on the games as they were sitting and having a drink. the new face of gambling in america. heather: getting $1,500 back, they are enticing. stuart: that doesn't hurt. we will check in with you

later. the dow winners, microsoft heads it up, they are up 5%. their salesforce is there too. the s&p 500 is there, microsoft making the list, texas instruments on the list, nasdaq winners headed by microsoft, texas instruments and paypal on that list. after 7 or 8 minutes, the dow is up 228 points, 34,500, the 10 year treasury yields, one.77%, the price of gold, 1836, down one present today. bitcoin 38,$000 per coin and oil hasn't reached 87, $86.49. natural gas, $4.29, 5.8%, an approaching storm in the northeast has something to do with natural gas going up. the average price of a gallon of regular gas inching higher,

$3.34. in california it is down one send but they have to pay $4.64. they still have to pay $4.64 for a gallon of regular. the latest of the view shutting down criticism of president biden for calling fox's peter doocy and s ob. >> i don't think he should apologize. >> did trump apologize for calling jim acosta a rude hell of a person? >> he technology was a poor example. >> no, i'm sorry. stuart: disagreement there and it didn't end either. we show you next. a black lives matter group complained about police officers who were shot, being treated as heroes, being black in washington dc is more dangerous than any job. leo terrell will take that on. cloth masks out, children as young as 5 must wear a mask

with a knows why you're. is that necessary? i will ask our medical expert of the day after this. ♪♪ ♪

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stuart: a cold day in new york, 20 degrees as you look at the statue of liberty in new york harbor. we told you about the new york state judge that struck down governor hochul's mask mandate but it is still in effect. lauren: earlier this week a lower court ruled the indoor mask mandate violated the state

constitution was then an appeals court granted a stay. at least temporarily you have to mask up when you are indoors. even though there has been an 86% reduction in omicron in sections in the state since peak day which is january 7th. the numbers of come down yet you are still forced vaccination and indoor masking. stuart: the big deal about the cdc, so often leads us with confusion and the courts compound the confusion. every one is confused what we are supposed to be doing. lauren: everything is changing quickly. stuart: the cdc says cloth masks are not effective so now the los angeles school district has mandated non-cloth masks with a hard thing across the nose on children all day throughout the day. doctor, parents are not happy about this. what do you make of it? >> nice to be back with you. i am a parent in new york and i'm confused too. just yesterday there was a flurry of emails between our

school district and the parents saying the mandate is off because of the court but there has been a stay so literally back and forth, we don't need to mass, we need to mass, masks are optional. it is definitely confusing even for us parents and as a doctor. heading to california, the question about the california mask mandate in the schools i believe the people in california are well-intentioned but if we look at this is a surgical mask with a knows why are like they are talking about. i am adult. there is space around the side. these are helpful but does it make that big a difference? i think omicron is showing there's not much we can do is making a difference. is going to do what it wants. if you really wants to make a difference you have to talk about an and 95 mask which i have to be fit for every year.

they have to go and literally fit me for this if it is going to work properly. is it going to make a huge difference? i think probably not. stuart: it will make a difference to the children. those nose wires are not comfortable by any means, are you going to wear them all day long? another hit on the education of our children and socialization of our children. let me move on because i have limited time. seems to be the vaccine initiative seems to have stalled. president biden has and forced to retreat and withdraw his mandate for private businesses. you happy about that? >> happy for the people who work for these companies but what they did is interesting, they acted first and asked permission later. most of these companies have an acted the rules so the vast majority got the booster or the vaccine and the booster or they got fired. the effect they were looking for already happened but i'm glad the court made the decision on this. i'm less happy that they made

the wrong decision for the healthcare worker mandate. don't see why healthcare workers should be treated different even any other citizen. when you have people who got fired who already had covid were safe to work with her patients and now bringing in people that it is okay when you come in when you have covid as long as you aaron and 95 mask but okay to come in because we are shortstaffed because we fired people. it is okay if you had covid but let's fire the people who are safe to work with her patients. stuart: the whole effort seems to have stalled, 70%, less than 60% have a booster shot as well. i think the whole effort it. is an vaccination is dead in the water. it is stalled at this point. i'm out of time. thanks for being with us, see you again soon. florida shutting down all monoclonal antibody treatment sites. why is florida doing this?

lauren: the governor said they red light on one peer-reviewed study put out by the consultants hired by a competitor. he wants to see the clinical data behind the fda decision by the american medical association to rescind their emergency use authorization for these monoclonal antibody treatments by regeneron and eli lilly. they said the treatment don't protect against omicron so the side effects of the treatments aren't worth it. vaccinated floridians had their appointments canceled this week, 13,000 floridians have gotten these treatments. to some degree of success in the past two weeks. stuart: there are some who feel the administration is sticking it to governor desantis but i'm not going to get into that. neil: options are limited should you get the virus now. take a pill, glaxosmithkline as monoclonal. stuart: i have a headline for you.

cornell law professor challenging nonwhite prioritization of covid 19 drugs. that is cornelprofessor joining us in the next hour filing suit against racial preference in a university. does he still have a job? should member the congress be allowed to trade stocks on the basis of nonpublic information? speaker pelosi may have changed her mind on that. hillary vaughan will have the report. ♪♪

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stuart: speaker pelosi has announced she will run for a nineteenth term in office. previously she said she would step down after the 2022 election. now she says much more needs to be done. pelosi is changing her mind apparently on stock trading by lawmakers. hillary vaughan on capitol hill. is she okay banning lawmakers from trading stocks? hillary:she's not okay -- he is fine if some members want to push to get this legislation to the house for a vote and let the majority decide whether or not the legislation passes and heads to the senate but the idea, banning lawmakers from making stock trades is pretty

popular. 70% of people think it is a good idea but the idea itself is making strange bedfellows. congressman matt gates and alexandria ocasio cortez are speaking -- looking for speaker pelosi to have a vote on the house floor. 2 dozen house members of joined the effort to consider the legislation called the stock act but speaker pelosi herself has brushed off the idea saying it is not necessary, she trusts her congressional colleagues and they should be able to participate in the free market like anyone else but also said she would be willing to put it up for a vote. according to the post, the policy portfolio has performed pretty well often outperforming the s&p. policy's portfolio according to a server selling financial data

ranked sixth best in 2021 in all of congress and also reported millions in gains from their holdings and 5 big tech firms, facebook, google, amazon, apple and microsoft, the big firms congress is weighing antitrust crackdowns on and additionally pelosi's husband paul has become famous on tiktok. they followed paul pelosi of stock trades because they see what he is buying at what he is telling ends up performing really well which begs the question maybe this is necessary to have this man in place, whether it is insider information, politicians are aware of policies and can guide their investing through that lens. stuart: paul pelosi a stock market indicator. how about that? mike huckabee, kayleigh mcenany, all for you coming up. t customized car insurance with liberty mutual, so we only pay for what we need. -hey tex, -wooo. can someone else get a turn?

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♪ you don't have to sorry -- worry. ♪ baby, there ain't no mountain high enough ♪♪ stuart: new york city, 22 degrees. it's cold. good morning, everyone. 10:00 eastern, straight to the money. we've got a nice run up for the dow. it opened up about 200, 250, now you're up 450 points for the dow and over 300 points on the nasdaq. that's a pretty solid bounceback after the recent selling. i don't know how we'll close. the 10-year treasury yield's 1.78%. let's look at the big tech

rally, microsoft is up 4%. google, amazon, apple, meta platforms all on the upside better than 1 or 2%. all right. the price of oil, this is affected today by the russia-ukraine problem. $87 a barrel for oil right now, up nearly 2%. happening any moment, secretary of state tony if blinken will announce -- tony blinken will announce the u.s. response to russia. we're told that the administration has sent written responses to russia that were agreed upon in geneva. i don't know how big of a breakthrough that is or isn't, but it's about to happen. we've just gotten the latest read on new home sales. the number, please. lauren: up over 12%. the seasonally-adjusted rate is 811,000, and the median sales price coming in at $377,700. very strong report. stuart: that's a very big deal.

lauren: yep. stuart: and i do believe the market just took a small leg up on those very strong new home sales numbers, now we're up 500 on the dow and 333 on the nasdaq composite. there you have it. now this, everyone. i want you to take a look at some new video. it shows what happens when you're soft on crime. roll tape, please. this video was taken by the actor, michael rappaport. a man walks into a rite aid on new york's upper east side, casually walks around the store, filled two bags with stolen goods and casually walks past the security guard who does nothing. as rappaport or says, these criminals know there are no ramifications. we've seen this before. walk in, load up, walk out, don't even think about paying. no penalty. it's an assault on the whole idea of private property, and it comes, of course, from the left. because some people have more property than others, the socialists think it's okay to steal.

think about that. you've got more than me, so i'm taking it off you so we'll have a more equal society. good lord. you don't have to work for it, just take it. soft on crime laws will not stop you. to these people, it's not stealing. oh, no, it's acquiring necessities. the answer is political change. it would help if there's more funding for police, courts and prison. i got it. but most important, we need a reaffirmation of values. stealing is wrong. theft should be punished. leftist democrats and their supporters in congress have ruined our cities. they should be held accountable. just for a second go back to that rite aid store. because of rampant theft, it's going to close permanently in three weeks. seems like the thieves are filling their bags while they can. second hour of "varney" just getting started. ♪

stuart: on a day like this, you've got to look at the market. dow's up 500 points, the nasdaq is up 346, and look at the s&p, up another 85 points. eddie gabor with us this wednesday morning. we're going to hear from the federal reserve about 2:00, 3:00 eastern time this afternoon a. my first question to you this: what happens to the market if jay powell comes on really, really hawkish, pounding the table on more rate increases and reining in the money supply? what happens to the market? >> if he comes out and does that, i expect the s&p to take the next leg down at least 10% from there. because the economy is slowing downment and -- down. and as i continue to say, the second quarter will be worse. and if you accelerate tightening into that, it is a risk-off trade. so i'm hoping that they're smart in how they position this. i still think the s&p will be down 20 in any scenario, it's just a matter of whether we

delay it or not. stuart: okay, the other scenario. supposing they come on as dovish. >> if they come out as dovish,, it's going to be that bear market bounce rally type that we will get, and i would stress, again, investors will get one last chance. if they didn't listen to our warning back in november, to derisk during that time period and assess their risk situation becausethey don't at that point in time -- if they don't at that point in time, it will be ugly. stuart: so you're in favor of selling any leg up. a bounce, you sell, because this bear market's still to come. that's where you're coming from. >> that's exactly right, stuart. look, the facts are the facts. they're still going to tighten no matter how he words it today, and we're still slowing down. and look at inflation. it is crushing the consumer. the consumer spending numbers on discretionary items are going to continue to go down over the next two quarters. so any way you slice it, there's not a lot of positives.

these short-term rallies are just bear market bounce rallies, and buying opportunities, in my opinion, won't come until i see 20% down on the s&p this year. stuart: would you say that you are popular on wall street these days? >> well, i don't want to -- i don't care if i'm popular, i care if i'm right. that's what my clients pay me for, and so far i think the market calls have been accurate here. because it is nonconsensus. now, the only things that will change my mind is if the fed just does one rate hike. i don't understand anyone who thinks this economy is strong enough to handle four. stuart: well, could be the fed if will take into account the huge selling we've seen on wall street. they don't like that. they want to maintain asset prices. so you could be right. you could see a very dovish fed. last word to you. >> i agree. and i do think the fed if does look at markets. look, that old scenario that the market only affects the wealthy is dead wrong. middle america depends on 401(k)s for their livelihood.

stuart: yep. 100 million americans have a piece of the market action. eddie gabor, you've been right so far, we'll see what happens in the future. see you later. >> thank you. stuart: back to lauren with the movers, and i'm going to start with texas instruments. lauren: they're focusing on two areas, cars and industrial uses, so the stock's up because a forecast for this quarter that was stronger than expected. stuart: can i interrupt for a second? the commerce if department said a few weeks ago manufacturers were down to a 5-day supply of chips. lauren: down from 40 pre-pandemic. and, yeah, there's a push to increase that. but if you're starting to make these chips stateside, it's going to take a while. you're not going to get those plants online until 2025. stuart: they're going to produce more chips, i would suspect. lauren: and a company that uses chips is f5, cloud security. they are the worst performer in the s&p 500 right now, down 12%. can disappointing guidance for

the year. what did they blame? the supply chain. and the final stock today is naveant, they are a home learn -- i'm sorry, student loan lender. they reported a loss because of lower revenue. a few weeks ago they had to cancel the debt of about 66,000 borrowers to resolve allegations that they preyed on their customers. that's not good news for the management of the company. it was worse earlier, so they're coming back with the rest of the market. stuart: all year long we've been discussing buying and/or selling stocks. now, i understand that goldman and citi have come out on that count. what are they saying about buying and selling stocks? lauren: they say now is the time to buy that dip. a lot of people were saying is the market going to dip further, you know, where's the bottom. everyone was looking for it. so you heard from goldman and citi, but also this week bank of america and wells fargo all saying the same thing, put money to work now. so the question is who is buying

this dip? is it the institutional traders? the professionals? or is it the retail traders? i spoke to jpmorgan yesterday, and yesterday at a rate of $250 million an hour through 2 p.m., it was the retail traders that had pulled back monday in such a big way. they bought the dip yesterday. so both sides are now buying the dip. stuart: $250 million an hour? lauren: yep. stuart: i can't wrap my arms around big numbers like that. lauren: the retail trade aers are a huge block right now. stuart: they are, indeed. lauren, thank you. house majority leader, steny hoyer, he says a significant version of build back better will pass this year. today president biden meets with the ceos of ten major corporations to push build back before the. former governor huckabee with us this morning. i put it to you, governor, that if they break up build back better into little pieces, for example, if they get to, like, just doing the child tax credit, i think that would pass. i think it will be popular. what do you say?

>> i think it has a much better chance. i mean, this is really build back bankrupt, is what it is, because it's borrowing money we don't have to pay for things a lot of people want but, quite frankly, can't afford. yeah, there are some popular things in the bill, and if they break it up into smaller pieces, it's like how do you eat an elephant, you eat him one bite at a time. how do you do this bill? you do it in small chunks rather than some gargantuan thing that everybody chokes on. does it have a better chance? yes. does it make it a great bill? not really, because it still is going to add to the debt. and when i'm hearing you talking about the market spending $200 million -- $250 million an hour, i'm thinking, you know, they're trying to keep up with the government spending like that. [laughter] stuart: sarcasm's a low form of wit, but, sir, sometimes it works really well. 29, we just got the 29th house democrat retiring. that's 29 on that list, and

that's the new list now. they're retiring before the november elections, not seeking another office, and they're retiring. what do you make of that, governor? >> let me answer the question with a question with. what do you have when 29 democrats decide to leave congress? the answer, a good start. we need a few more to retire. we're disappointed that nancy pelosi is hanging in there. at age 83, he's going -- she's going to make another go of it. some of these people cannot let go. their fingernails are scraping on to the last vestige of power. but the fact that this many democrats are leaving is indicative of the fact that they realize they're going to be in the minority party. they don't want to be there for that, and they want to go out on their own terms rather than get defeated in an election which a lot of them know that's what's going to happen to them if they stay in the race. stuart: ten seconds. absolutely, positively sure that the republicans retake the house

in november if, yes? >> yes, millions they do something -- unless they do something stupid, which they're capable of. but otherwise, if they either shut up and sit tight or come up with a good message which they haven't done yet, they will take the house. that's what they need to do. stuart: i think we'll leave it right there. governor huckabee, thank you very much, sir. we'll see you again soon. >> always a pleasure. stuart: you got it. a new report from politico says the white house limited president biden's travel and interactions with voters during his first year. it says aides were worried about him getting covidment is that all? -- covid. is that all? we've got the story in our next hour. florida senator rick scott slams president biden for using taxpayer money to buy covid tests from china. we'll tell you just how much we've been giving to china. u.s. troops are on high alert as russia conducts new military exercises. so what's our next move? georgia mill jaffer served as chief counsel to the senate foreign relations committee the

first time russia invaded ukraine. he'll take on the question, next. ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: check those markets on this wednesday morning. i'll call it a bounce. dow's up 300, nasdaq's up 272, a 1.5% gain for the s&p. president biden insists, ah, there is no plan to evacuate americans in ukraine if they get stranded. they also admitted they don't know how many americans are actually there. benjamin hall at the state department. >> reporter: that's right, stuart. the administration continues to insist an invasion is imminent, but there's no plans to evacuate or save americans who get caught up in it. in fact, stuart, the message seems to be find your own way out now. >> nothing but transparent about the hazards that we see to american citizens staying in

ukraine, and that's been very, very clear. this is not the same situation as afghanistan. >> reporter: russian troops continue to mass on the borders. independent estimates suggest there are anywhere from 20-30,000 americans in the country, but the state department says they don't know the exact number. >> right now we do not have a count that we consider to be accurate of the number of americans, private americans, who are resident in ukraine. >> reporter: that being said, reports suggest that israel has laid out plans to evacuate up to 75,000 ukrainians from the east of the country, all those eligible for israeli citizenship under the law of return. meanwhile, the weapons continue to build up. more u.s. shipments arrived in ukraine overnight including hundreds of javelin antitank missiles, u.s. f-15 fighter jets also landed, and secretary blinken is expected to announce that he has delivered the responses to russia's concerns

they requested in geneva last week, the same concerns previously the administration said they weren't true. nevertheless, blinken is expected to have responded to those, and we expect it to be the basis for moving forward. so things like troop movements, missile placement, risk reduction. the idea being that this is test dog see whether vladimir putin is interested in negotiation or whether he has his heart set op on invasion. stuart: so it's can diplomacy at this moment, not military action at this moment. >> reporter: that's correct, yes. stuart: benjamin if, thanks a lot. see you again later. jamil jaffer is with us, he served as chief counsel to the senate foreign relations committee in a previous administration. do you think we should send more lethal weapons to ukraine? i've just heard that we've got $200 million worth of those weapons already there. need moresome. >> -- more? >> stuart, i think so. the russians come across the border, it's going to be very hard for ukraine to defend themselves. the most likely thing to prevent putin from going in the first

place and leaving quickly if he does go in is a high number of russian casualties costing him at home. the best way to insure that is military training, military equipment and, frankly, american intelligence support to the ukrainians to help them defend themselves against the very real threat on the border. stuart: i don't think the russians have ever carried that much -- cared that much about heavy casualties before. are they going to care now? >> i think you're right to say that they're willing to save some amount of -- see some amount of casualties, but at some level vladimir putin is on an add venture here. he's trying to demonstrate he's got some capabilities with russia having sort of walked back where it was when it was the soviet union. he knows he can't achieve that. the russian people will get tired quickly if he starts incurring a lot of casualties. he doesn't want that. president u.s. can make it look like that's what's going to happen, he will likely not go in, and he does, he'll leave sooner. stuart: here's the speculation that i'm hearing from some

quarters. putin will not invade whilst xi jinping, his ally, is conducting the olympics. the olympics end on february the 20th. on february the 23rd, it's russia's military day, february the 23rd. there's a lot of speculation that that's the day he invades. what do you think of that? >> look, i think that's a very realistic possibility. you know, vladimir putin wants attention. he wants to be seen as a superpower once again with russia, truth be told, simply isn't. their economy doesn't suggest that. the military power might suggest it, but they're really hamstrung. and so you're right to say vladimir putin's going to wait to maximize his attention at home and abroad. now, that may be actually during the olympics. we'll see what happens, but russia's military day, as you say, is a perfect day day to make this move if he's going to do it. so we might have some time the, we might have up to a month to get more weapons there, more training and make clear that we're going to back the

ukrainians not with troops, but with weapons and intelligence support if putin goes in. stuart: one quick point. nato is not unified. the germans are questioning whether or not they actually want to impose sanctions on russia because russia supplies them with energy. nato is not united on this, and i think that's our problem and a plus for putin. what say you? is. >> i agree 100%, stuart. it's a huge issue. it's actually, in a lot of ways, our fault we're in this situation. we've been talking for the need to provide natural gas and oil to our allies, the germans and the like, and we nebraska if built that -- we never built that alternative pipeline. now they've got nord stream 2. the germans are addicted to this natural gas and oil, and it's a huge problem. they should do better on this, unfortunately, the economic situation is a tough one, and we should be doing better to get them american natural gas to help our economy and their economy. if. stuart: merkel canceled the plan to build facilities in america to take american natural gas.

when trump lost the election, she canceled it. jamil, thank you very much. we appreciate it. >> thanks, stuart. stuart: back home now, senator rick scott blasting the administration. strong language here. is he -- this is about free covid tests. lauren: yeah. because the millions that were made available to americans were manufactured by this company headquartered in california, but it is a subsidiary of a chinese company, and when you get your box, it says made in china very clearly. his statement: it is unacceptable that the biden administration would spend american taxpayer dollars on covid tests from communist china which just goes directly to supporting general secretary xi and his genocidal regime instead of supporting american manufacturers and jobs. here's the deal, we want american-made tests, we just didn't have enough to send to 500 million people. stuart: the olympics are, what, a week away. february 4th, i believe. nbc's going to air. is there some concern that china will influence or have some

influence on nbc's coverage? lauren: yes. and republican house lawmakers sent a letter to the top brass at nbc universe, and they want to know if the international olympics committee or beijing has moved to influence their coverage of the game. they want to know if the communist party can block their feeds and if they're insuring that forced labor is not used in the production. the deadline to respond is three days after the olympics starts which is the 7th of february. you see, there's bipartisan support for freedom of the press and to make sure that the uighur muslims are not being exploited here. what is nbc going to do. stuart: nbc's commentators, the people who tell you what's going on -- lauren: they're not going. stuart: they're going to be in connecticut, actually. lauren: nbc did put out a statement and said, look, we know these are challenging times. we've got to kind of work with this here. we're going to focus on the stories and the athletes.

stuart: yep. they got the contract, they've got to -- lauren: $1.3 billion, yeah. stuart: they've got a lot of money on it. seven school districts in virginia suing governor youngkin over the option to make masks mandatory. there's a battle for you. we told you about guidance that prioritized covid drugs according to race. now, race is a -- becomes a priority who gets these drugs. a cornell professor has filed a challenge to that guidance. he's on the show next. ♪ make me that much wiser -- ♪ thanks for making me a fighter. ♪ made me run a little bit faster -- ♪ made my skin a little bit thicker. ♪ makes me that much smarter, so thanks for making me a fighter ♪♪

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♪ hey, you, get off of my cloud ♪♪ stuart: i always liked that rolling stones song. it just had so much life and energy to it. i liked it. what you're looking at there is st. mary's, pennsylvania, just 12 degrees. i'm sure that many of our viewers many florida will appreciate that they're in florida. pennsylvania's 12 drees. back to the market, please. the dow is up 500 points 20

minutes ago, now it's up 180. it's a volatile market, believe me. the nasdaq up though, up 330 last four -- hour, now 234. we've got some movers for you. corning, now, there's -- up 13%. lauren lauren on the s&p. earnings beat strong guidance and, guess what? they're getting higher price for their glass, and they said we -- they've negotiated their contracts, and they expect gross margin to expand accordingly. those are pretty strong words on strong pricing. so the stock is benefiting. stuart: chlorox is the next one. i saw it on scent there, chlorox. lauren: yeah. stuart: they did very well at the start of the pandemic because we're all cleaning surfaces. we're not doing that now -- lauren: and now $500 million in sales is at risk, and this is a good thing, we're going back to moral and not cleaning and disinfecting all the time, so they cot got -- they got cut to

underperform. stuart: you've got a pot story for us. lauren lan i do. tax it at 3%, so that's less than what the democrats want to tax it at, 10%, and let anyone if over the age of 21 smoke it. big gains for the cannabis stocks. and if you look at the etf, that is up about 3.33% as well. stuart: that would make a significant difference to the marijuana markets if you could do that with it. thanks, lauren. seven school districts in virginia suing golf glenn young kip over his audit on making masks optional in schools. dave spunt at the justice department. the latest, please. >> reporter: this was a big campaign issue for them. governor glenn youngkin signed that executive order on day one in the on the job in richmond, virginia, and these parents are suing. they are arguing and the districts are arguing that governor youngkin does not have the authority to override a law passed by the virginia general

assembly last are year that allows schools to impose mask mandates. masks were not on the agenda last night at a heavily-attended loudoun county, virginia, school board meeting, but you better believe the subject became up -- came up. listen. >> we want to keep schools open. if you want to keep schools open, this is literally the smallest inconvenience that we could do to keep schools open. >> reporter: a group of parents against mask wearing in schools showed up to fight for their children. >> they're discriminating and segregating our kids. they're bringing us back to the '60s instead of pushes us forward. it's not right. something's got to change. >> reporter: government youngkin out with a few op-ed in "the washington post", quote: for the sake of our future generations, we need to recognize potentially damaging impacts of mask wearing on some children. experts suggest masks can hide visual cues, hinder emotion recognition and reduce students' abilities to hear teachers clearly. after schools threatened

quarantine measures for maskless kids, youngkin yesterday told parents and students to listen to those school officials and principals even if her not onboard with his parents choice philosophy. that does not mean governor youngkin is going to give up, this was a key campaign issue he plans to deliver. stuartsome stuart south got it. thanks very much, indeed. now then, our next guest is challenging new york state's health department directive which prioritizes nonwhite individuals for the distribution of covid-19 drugs. bill jacobson is a cornell law professor and joins me now. professor, do you think these guidelines are unconstitutionalsome -- unconstitutionalsome. >> yes, we do. and we have files a lawsuit challenging them because they prioritize, as you indicated, the availability of these medications based on race. and that is not a permissible way to do it. they have guidelines that everybody has to comply with, but at the end of the guidelines you have to show a personal risk

factor. if you are nonif white under the guideline, that's enough. if you are white, you have to show some medical condition. so different standards for different races, not constitutional. stuart: by doing this in this particular instance, are you, in fact, challenging the whole concept of equity that we've seen recently? >> well, the lawsuit itself is limited to this cored -- order, but it does get to the whole issue of equity because the concept of equity sounds nice. a lot of people think it means equality, it doesn't. it means discriminating on the basis of race in order to achieve some sort of balance or quota system. so the whole concept of equity means discrimination, and it's not constitutional. stuart: professor, you are challenging race-based education, basically what you're doing, and you're doing it from cornell university. i don't mean to be sarcastic, but are you tenured? because doing what you're doing is not going to be popular in a university in america today. >> i mean, i am challenging

these medical provisions. i have a form of job protection. it's not technically tenure. and i hope it will be popular. it probably won't be, but i i am upholding the highest ideals of cornell university. it says it's for non-discrimination if, so i hope people will support me although i recognize it's a hot button issue, and i probably will catch a lot of flak. stuart: can i ask you if you've gotten any flak so far, real hostility? >> nothing from this challenge of the law. i haven't really received any feedback directly of cornell. classes have just starting up, so it may be that it hasn't filtered down yet. so i don't know what's going to happen, but it's the right thing to do. and i think most people will agree with me. regardless of your political persuasion, discriminating on the basis of race is wrong. stuart: absolutely. in full agreement, sir. professor bill jacobson, cornell law school, thank you very much for being with us today, sir. we'd like to follow up later and see how this suit is going.

thank you, sir. >> thank you. stuart: all right. ahead, just ahead of his meeting with president biden today, ford's chief executive, jim farley, he's going to sit down with our own grady trimble. that interview will air in our 11:00 hour. the country's facing a shortage of 80,000 truck drivers. driving schools are popping up all over, and guess what they are seeing? if people changeing careers to get those high-paying jobs. we'll be back. ♪ -- with a little ride in a big old truck ♪♪

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♪ stuart: here's a big number for you, america faces a truck driving shortage totaling 80,000. connell mcshane is joining us. he's in connolly, georgia. brand new driving school just opened. truck drivers can start at six

figures, $100,000. it seems like people are taking notice of that, and they're changing careers. is that what's happening there? >> reporter: it is. shortage can create opportunity, stuart. this company, roadmaster, they have 13 schools a couple years ago. this one, as you say, this is the 20th one, but by the end of this year, they hope to have 26, essentially doubling their business in a couple of years where you learn to drive a big rig hike the one you're looking at right now. we've had some interesting individual stories that we've picked up while we've been here. a young woman was working for amazon, one of its distribution centers, but now she's here. she's here learning how to drive a truck. why do you want to be a truck driver? >> i want to travel all 48 states. >> reporter: wow. so it's about getting around. you want to see the country. >> it is what it is. >> reporter: certainly will have a chance to get out there and do that, already has a job

lined up in an industry that's said to be about 80,000 drivers short. federal pilot programs are going to allow 18-year-olds to drive across the state lines, but they need more. this area where we are now, people call it truckers' alley. such a key hub geographically when it comes to connecting the south. wayne smith has been in the business for over 50 years, and for all this talk of people leaving the business, he also hears from plenty of people who want to get in. >> supplying for driving position, both in the same week. one of them had a degree in sports medicine, physical fitness, the other in criminal justice. both four-year degrees, and i asked them why aren't you in the field that you studied? you went four years to college, that cost you a lot of money, why aren't you in that field? they said because we can't make the type of money we want to make. >> reporter: that's it. money talks, stuart, as you know. those guys are going to be making maybe 50,000, $60,000 in

their previous positions, but driving a truck he says, yeah, well over $100,000 within a couple of years. so the nation needs truck drivers. schools like this popping up trying to meet that demand, stuart. stuart: plus benefits, very important. connell, good stuff. see you again later, connell mcshane. imports, the stuff coming into the nation's busiest container ports in california, the stuff is -- the amount of stuff is plummeting. ashley, good morning to you. what's the story here? ashley: good morning. well, it's sill about the backlog. -- still about the backlog, the jammed supply lines. combined import volume fell about 14% at the ports of los angeles and long beach last month if compared to a year ago. that is a fourth straight month of year-over-year declines. but despite that, a record number of ships have been parked outside the ports hitting a record 109 cargo vessels earlier this month. and the same issues persist; ships can't unload quickly

because terminals are full of containers, truckers can't pick up loads because of a shortage of drivers as per connell's report, and trailers are also in short supply. on top of that, warehouses are short of workers and space, so they can't take deliveries anyway. shipping costs remain sky high, and that means continued high prices for all of us. what is mr. buttigieg doing about all of this? isn't he in charge of transportation? stuart: yes, he is. i don't know what he's doing about it. so far not much. ashley: right. stuart: we've got a democrat, ash, in congress who is towing biden's line. he says it's the meat processers that are causing the rise in meat prices. what have you got on this? ashley: yeah. we've heard before from the president himself. they want the country's major meat processers to explain why they are raising product prices despite rising profits. congressman, a democrat from illinois, has sent a series of letters to tyson foods, jbs

foods, national beach and seaboard asking them to provide information on pricing and whether they are any ongoing federal and state investigations related to the price hikes. the congressman, a leading democrat on the house oversight and reform committee, says he's concerned that the meat processing conglomerates may have engaged in predatory business practices at the expense of consumers during the pandemic. the four companies, by the way, have until february 8th to send the requested information to the committee. [laughter] stuart: okay. i'm going to move on before i make a nasty comment. ashley: yes. [laughter] stuart: check those markets, please. not much of a bounce now for the dow. it had been up 500, now it's up 100. nasdaq had been up 350, now it's up 190, so you've got a bit of a pullback, but the bounce is still in place. wait until we see what the fed says this afternoon. still aid -- ahead, a black lives matter group says cops who are shot should not be treated

as heroes. civil rights leader leo terrell coming up, i'll ask him what he makes of it. we talked about crime spiraling out of control. hospitals are not even safe these days. jason rantz, our crime guy, fired up on this one, and he's next. ♪ you've been hit by, you've been struck by a smooth criminal ♪♪ ♪♪ care. 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.

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develop or worsen. serious allergic reactions may occur. watch me. ♪ stuart: watch this. a gunman opens fire in in a new york city emergency room, the waiting area. the victim, who was being treated for a previous injury, was shot in the forearm. he is expected to recover. the suspect is in custody. he tried to sign in for medal -- medical help. meanwhile, the white house is defending president biden's stance on crime. what are they saying about it? ashley: well, the white house continues to push back on the perception that the administration is soft on crime, largely focusing its efforts on stopping gun violence. but that said, let's go down the list. two officers fatally shot last week in new york city. a washington, d.c. police officer shot over the weekend. in chicago, 22 people were shot this past weekend.

and the deputy was shot and killed in houston sunday morning during a routine traffic stop is. here's white house press secretary jen psaki. listen. >> the president's never going to be satisfied or complacent when officers are being gunned down or when americans have to worry about whether they can safely ride the subway or bus or even be at work. we've seen a surge in crime. obviously, this weekend is a glaring example of that, especially gun violence over the last two years, and the president has been aggressive in using the tools at our disposal to combat that. ashley: well, you remember the defund police campaign. well, biden told a gathering of u.s. mayors last week that funding for police departments should be increased, he says, not cut. the president has also called on congress to pass tougher gun laws that include more thorough background checks, but so far that has failed too. stuart: it's not guns, it's values and soft on crime --land. ashley: right. stuart: that's where i'm coming from. thanks, ashley. come on in -- look, jason rantz

is with us. a man shot in an emergency room waiting area in new york city. white house press secretary says this rise in violent crime is really all about guns. it seems to me that we're treating criminals as victims. we've got it the wrong way around. what say you? >> that's exactly what i say. i have an op-ed ed basically with point on foxnews.com. when the federal government says this is a gun problem, and in a lot of cases the democrats, they treat all guns equally. they treat all people who have guns the exact same way which is they're all villains. but as you know, there are a lot of people in this country, in new york and across the country, who purchase guns to protect themselves. and those are people who tend to get caught up in these new gun laws that get put forward. the folks who are using guns illegally, they're not purchasing them and getting away from loopholes at gun shows and what not. they're often times stolen guns, very clearly not the problem. it's the person pulling the trigger. but instead of actually

punishing those people, we pretend that they're the victims of some kind of ism in 24 country, racism that's institutional institutionalized, sex imthat's institutionalized, and so -- awed tiff -- [audio difficulty] averting them from prison. stuart: your video was breaking up there and so was your audio. we heard what you've got to say, but how do we turn this around? i mean, the authorities say it's guns. i say it's values. you've got to get back to the values that america holds dear. private property. you commit a crime, you're punished. that's what i want to get back to, but how do we do that? >> we do that in part by vote moting families -- promoting families. a lot of times especially when we're talking about youth who get involved in gangs and other violent acts, they're doing so because they come from broken families. we have to make sure we're keeping them together and we have responsible adults who are there to guide these kids who

make -- to make sure they don't get taken down that path, exploited by criminal adults who see the 1ru8 innocenter. number two, teach this stuff in the classroom. what are we teaching? there's this movement to teach that the country is evil, that private property ownership is an extension of white supremacy. so when we're telling kids that this country is not worth defending or saving or respecting, well, guess what? we start to see this kind of deterioration. it's only going to get worsewe don't get ahead of it. now, the crt stuff isn't impacting the crime at this point, but it very clearly can once these kids actually get out of school, get sort of indoctrinated with this belief and then decide, yeah, you know what? i'm not going to push laws that would respect private property ownership, for example, because that's evil and racist anyway. it's all about values. people who have strong character and moral values, guess what? they're not going into an emergency room and shooting someone with the intent to kill.

stuart: very true. jason rantz, thanks for being here. always appreciate it and good subject too. check those markets, please. the dow is up 150 points, but a lot of that gain on the dow is a result of microsoft which is doing very well this morning, and it is a dow stock. something like 100 of the points up on the dow, it's 157, 100 of them come from primarily microsoft which is, indeed, putting a floor under the dow and, to some degree, under the nasdaq which is still up about 200 points. it's still a rebound. not as strong as it was a couple hours ago, but it's a rebound. still ahead on the program, martha that mccall mum, leo terrell x. there's this. china has put 20 million people under strict lockdown. xi jinping wants a covid-free olympics. but china is the manufacturing capital of the world, and when they shut down factories over there, they create a supply chain problem for us here.

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overly hawkish beyond expectations we see a 10% swoon in the market and it will happen quickly. the fed is going to have to back off. >> i expect the s&p to take the next link down 10% and the economy is slowing down but the second quarter will be worse and the acceleration tightening into that it is a risk off trade. >> it helps the republicans because not only will the republican party be running against biden's policies, but also running against nancy pelosi's policy. >> why do we not get ourselves

involved militarily in stupid wars during the trump administration? we had a strong president and weak presidents are tested. >> they acted first and asked permission later. most of these companies and acted the rules so the vast majority of their employees got the booster or the vaccine or got fired. the affect they were looking for probably already happened. stuart: it is 11:00 eastern time. it is wednesday january 26th, straight to the market. the market is not that strong, the dow was up 180, the nasdaq is up 220. pretty good but we've had a big selloff. how about big tech. leading the way is microsoft. it is up $11, nearly 4%. all of them higher except meta-platforms ever so slightly lower.

the yield on the 10 year treasury coming in at one.78% and bitcoin, at 38,000, now it is 379. now this. there is one country that still clings to a 0 covid policy and that is china. they are trying to live with it, they are trying to stamp it out. it won't work but worse, their policy hurts us. china has put 20 million people under strict lockdown. there are severe's travel restrictions for the new year holiday. china athlete or xi jinping wants to covid freeland pics and covid free country. china is the manufacturing capital of the world. when they shut down factories they create a supply chain problem here and supply chain problems play a role in rising inflation.

xi cannot change course. he staked his leadership on showing how china can manage covid while america can't. china's vaccines are nowhere near as effective as those developed in the west and nobody has been able to shut down omicron completely. xi should accept the covid is becoming endemic. we've all got to live with it. but he won't. he can't. he is locked into lockdowns. a reversal would mean a huge loss of face. that's not good in china. just as we learned to live in covid china goes the other way to covid attempt to kill it off. like trying to eradicate the common cold. inflation lingers. it is partly their fault. third hour of "varney and company" starts now. i see green on the left-hand side of the screen. the dow is up 170. nasdaq up 200 and jim lowell

joins us now. we are going to hear from the fed in a couple hours later this afternoon. a couple scenarios. what happens of powell comes on hawkish, begun rate increases, cutting back on money printing. what happens to the market. >> if he did so which i don't expect him to do the market would be concerned that somehow the fed was getting over their scheme in terms of thinking they need to ask more aggressively in the immediate term, unknown events russia china to our own slowing economy in the mix. stuart: so he has got to be aware what is going on outside america and wall street. the other side of the coin. what if it comes across as dovish? >> we might see a rebound. the reality is the fed knows that what it says matters if this particular moment on the

world stage more than it is going to do, the fed is well schools in how to slow talk their way to whenever it is they begin to walk the walk. i don't think we will see rate hikes being announced or even specifically addressed. the fed is going to try what has been a nervous market. i do think the fed understands that what it says moves markets. not just economies. stuart: you are right. it is a fairly dovish position this afternoon. are you buying this dip now? >> we are looking at ways to harvest tax losses and taxable accounts. we are looking for ways to rebalance back to original positions from the start of the year so we can capitalize on

what we think are short-term disruptions with regard to technology, which is way overpriced and priced to perfection. we would like to see cracks that give us the opportunity to get in and buy some great names for the long haul. stuart: microsoft and apple? >> certainly represented in the managers we invest in. we hear from apple later today. whether or not they have been able to navigate supply chain disruption well enough to not put a significant dent in their sales but their numbers will be impacted by the fact their fiscal year ended december 25th and the last week of the year it always puts on specific regard to iphone sales and is very robust. it is a noisy number no matter what. stuart: it is a noisy afternoon, it will be out of

the place. thank you for joining us, appreciate it. new report from politico says the white house limited the president's travel and interactions with voters during his first year. aides say they were worried about getting him getting covid so kept him under wraps martha maccallum joins me now. do you agree with that? they kept him under wraps because of covid? >> it is probably true based on what we saw. it began during the campaign. the president was campaigning largely from his basement, he had very few active campaigning events and at that time politically it was to show a contrast because many were saying trump was being too cavalier in the way he was treating it, he ended up getting it but we live in a different moment now. now you have a president who has been double vaccinated, has a booster, he has taken to wearing an and 95 mask, a very

interesting study this morning from harvard scientists says the old adage that my mask protects you and your mask protects me is no longer the case with and 95s because now you have a mask, we've had these all along by the way, that protects the wearer. president biden is as safe as he could possibly be and i think if -- i don't wish covid on anyone. i caught omicron, nobody wants anyone to catch it but if it were to happen in this moment it might be an opportunity assuming he made out well and had a cold for a few days like many people do, age is another factor but it could demonstrate how we can live with covid and keep going on and if you are vaccinated you will be in good shape. he could be a powerful symbol for where we are now in this process and how we can live our lives courageously but keeping

science in mind. stuart: did you see this about the los angeles school district mandating non-clock masks that have a knows why are. kids in los angeles school district have got to where this knows why are mask all day. i can't help thinking that is terrible. >> that is what the study which is really interesting from harvard says you don't need to do, the whole reason they publish this study and wrote about it today is they say walls can be open and masks will be optional, mask a requiring protects the wearer, so people who feel they are vaccinated or boosted and have done everything they can do not have to wear the mask, and all the smiles and the teachers faces and all these things a tale their own psychological development and social the elements, such a dramatic way. stuart: at 2:00 this afternoon the fed speaks to the nation. at 3:00 you come on the air. i watch the fed too. you are all right.

>> you are all right. i want to know what is going on with pellets on. >> less than that moments ago. all these questions about their business model. they had this expansion plan and their profitability is in question, that was 2019 the year they ipo it. take a look at boeing. a lie in earnings report because of the $3 billion charge because of the dream liner delays and 737, flying in the us and europe but not in china and boeing's cfo, this spring, this summer, mostly everywhere but not in china. china is holding back the full recovery over 3.5%. stuart: moderna. lauren: stocks are down 37%.

uk data show moderna and pfizer vaccine cuts the risk of long covid when you have fatigue or memory loss the last 12 plus weeks, cuts those chances by 50%. the boosters, there's a friend study that says second booster which is a fourth dose doesn't bring anything significant advantage. moderna has had a tough year. stuart: they have indeed the stock went up enormously to start with but is not done well recently. retailers see a huge jump in online returns. the online service continuing to go but it is astronomical. stuart: here are the numbers, $761 billion in merchandise was returned last year, up 17%. when you are not in a store buying something, you might have ordered the wrong size are many sizes. i find returning very annoying. stuart: in return 5.

lauren: the company will send your barcode and they can scan it for you and you don't have to print anything out. they can get your item backs up. >> shouldn't be so we set to return stuff. >> what do these companies do it every the return? a big problem for them. >> they can't resell it, not all of it. some of his plane dumped. lauren: sometimes they tell you to keep it, it is not worth it, they say the coffee table you didn't like it, keep it because the cost of returning it is more money than it is worth. stuart: a black lives matter chapter from washington dc says police officers who get shot should not be called heroes. lyons terrel will respond to that forcefully. president biden has a history of lashing out at reporters's tough questions. >> why are you so confident he will change his behavior, mister president? >> i'm not confident.

>> kayleigh mcenany says this is proof the president can't handle media scrutiny. she is on the show later. locals and ukraine fear or russian invasion could come february 20 third. that is russia's military day. live report on that from ukraine next. the potential for rich returns. your shipping manager left to “find themself.” leaving you lost. 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: political advisers from ukraine, russia, germany and france will hold talks in paris today. we have sent more weapons to ukraine. steve harrigan is in kiev, the capital of ukraine. what is the latest? >> reporter: those four way talks underway in paris at the diplomat level and on friday the french president expected to hold a call with vladimir

putin. the hope that these talks can somehow forestall any russian invasion. in the meantime weapons, ammunition continue to arrive in ukraine, $2.07 from the us, and antitank missiles of arrived here. russia building up its forces along the border. and if russia could attack ukraine, there can be a divisive response. the mixed messages for the people of ukraine, the us pulling out its diplomatic staff from kia. the family mothers of those who work in the embassy saying and invasion could be imminent. you have ukrainian officials saying there is no need for panic, don't pack your bags. if there is going to be an invasion it would be weeks away at the earliest.

when you talk to people you have different opinions about what is ahead. >> translator: it is going to be a global war that will break the world to pieces. >> translator: i'm not so scared. everything is calm here. >> reporter: the same day on the same street one person thinks global war is coming at another person says absolutely nothing will happen. those two opinions both of them very common here in ukraine. stuart: that really is mixed opinion. thanks very much, see you soon. an op-ed, foxnews.com reads, quote, to disturb putin in ukraine biden must stand up to the russian strongman. nathan sales wrote that. how does biden stand up to putin. >> start playing offense. right now we are playing

defense and reacting to putin's every move. we need to play offense and that means things like sending more weapons to ukraine to defend themselves. antiaircraft weapons, anti-ship weapons. thinks and ignoredstream 2, the pipeline from russia to germany that our german allies have pursued despite the fact that it will allow russia to further weaponized energy against western europe and we need to start sanctioning russian banks, russian oligarchs and others to show that we can destroy the russian economy should putin said the tanks across the border. stuart: you would do that now? you wouldn't wait for an invasion or an incursion, just do it now because you want to go on offense and that is your basic point. go on offense right now. >> go on offense and if putin decides to de-escalate weakened the escalate too but there is an asymmetry. boudin has sent 100,000 troops to the ukrainian border.

the united states has been reacting to move like that. we see this initiative we are more likely to get a better outcome here. that is one in which wars winning and peace is served and preserved in europe. stuart: i see a problem with germany and they want to opt out of any sanctions imposed on russia because they are threatened, their energy supplies threatened in the middle of winter. i won't c nato unity right now. >> that's why the united states needs to go it alone if necessary. if we don't have unanimity we need to be prepared. but what i hate to interrupt but if we go it alone americans are turning around and say, and for the sake of allies, and

that was ukraine's fight. and crushing blow economy rather than letting the lowest common denominator ally water down any kind of deterrent response. and >> what do you think is going to happen. something like the soviet empire and states, but if he can resort to bullying and intimidation. to get the united states and nato to back down so much better from his point of view. stuart: is there any concession

we as america should make. to take your oligarchs off the list. we don't have any kind of meaningful concessions the wouldn't harm our interests and values. stuart: you make a lot of sense. thank you for joining us. back to the markets. the big financial story of the day. the dow is up 350. nasdaq is up 300 points. the financials were recovering nicely, covering a bunch of bad sessions, of 2 or 3% across-the-board. this coming at us, noon eastern, anthony blinken will remember remarks. that was at 12 noon.

whether that moves the market or not i don't know but we will carry it for sure. we will report it 12 noon today. cohost on the view try silencing lisa lynn after she criticized president biden for snapping at peter doocy. >> i think he should technology was a poor example. >> he should acknowledge he is human. >> we can't keep comparing him. stuart: i can't figure out who is on whose side. kayleigh mcenany will take it on after this. ♪♪ ♪♪

stuart: it's got a good beat. you are looking at tampa, florida, only 58 degrees right now. there are people wearing hoodies in tampa, florida. check the markets. the fed decision coming up

later this afternoon 2:00 to 3:00. i've been asking market guests, first question. what happens if power comes on really hawkish. what happens with the market? >> you have the fed funds rate pricing at 45 rate hikes this year, 50 basis points indication for a hike in march. would that be hawkish? with that surprise the market or take markets lower? don't you think? stuart: i would agree with that. that kind of shock from the fed at this time would take the market down the turn it around, what happens of the comments are considered dovish? >> which if you think about it given the best day for the stock market this year, the nasdaq is down 13%, the stock market decline, doing heavy lifting for the federal reserve, they have to hike

rakes for a 5-time the resident futures are pricing in. some would say maybe not and if that is the case, if they are more dovish, stockmarkets could rally from here with the earnings we've seen which has been fantastic, a great example of that. 45% growth in as her, growing in the first quarter of this month. meeting the indices, with apple, expecting a $100 billion plus blowout sale, given the indications apple is the top smartphone silver in china with 23% market share, the highest in 7 years. stuart: you are on board with a strong apple report tomorrow afternoon giving support to the overall market, that is where you're coming from? heather: yes, i am thinking big tech and corporate america is

doing fantastic bringing a lot of money and pricing control. the federal reserve, with upside and downside. stuart: we don't often get your market commentary but we will do it again. see you later, thanks a lot. something completely different, following that exchange with peter doocy, just take a look at how many times president biden has snapped at other reporters. role tape. >> do you think that might incentivize people to come over illegally? >> president biden: if you feed sending that garbage out yeah. >> what are you confident he will take this behavior? >> president biden: what do you do all the time? >> a quick question on his real? >> president biden: know you can't. >> a great asset. more inflation. what a stupid son of a [bleep]

stuart: there you have it. kayleigh mcenany is with us. i don't think it looks good when the president loses his temper. what say you? >> let me correct one thing you said at the top of this segment about tampa. tampa is behind me. people are not just wearing hoodies but parkas, one opportunity of the year we have to do this. i don't think it is a good look, mister unity and mister civility, we knew who trump was coming into office, a guy who threw punches but biden told us he was mister unity. he has done anything but that and what that shows is he can't handle the heat. when trump came in reporters reaction were ferocious, he never got a chance to complete full sentences. was always interrupted. it has been a different direction with biden and they turned up the heat just a bit and his reactions are very

telling that he simply can't handle the slightest bit of criticism. stuart: you were press secretary for donald trump and i remember distinctly reporters being rude directly rude to the president of the united states. jim acosta almost insulted into his face. i don't see any of that rudeness going towards president biden. even so he responds in a rude fashion. there is a complete difference between the press corps and your day in the white house and the press corps today with biden. >> no doubt about it. i watched the press conference last week and a lot of people have changed their tune and said the press is asking hard questions but when i watch the press conference i did it through the eye of a press secretary and the lens of having sat by a president as he gave a press conference, watching reporters, number one, ask follow-up on the same topic so whatever donald trump said if he would have set a minor incursion is one thing, they would have been an immediate follow-up. not only that but an

interruption in midsentence and there would have been rudeness going along with it. this press conference a lot of times they just moved on, didn't hold him accountable for his statement, never interrupted and had a system of the core in which every president deserves. the one you are not allowed to criticize the president. i have an example. the host of the view shutdown cnn's lisa ling after she tried to criticize president biden for his comments about peter doocy. they won't let anyone criticize the president. watch this. >> he should acknowledge that he was a poor example -- >> i am sorry, he should acknowledge he is human. he called the stupid sop, nothing compared to what trump said. >> we can't keep comparing him. >> he is you can. me when you can only have one point of view on the view, that is clear. last word to you. >> it is very clear, it is why they can't find a conservative. they have been looking for more than a year. i had conservatives reach out

to me and say i had an invitation but i declined. they can't find anyone who wants to come on because it is four voices that don't allow the conservative viewpoint to speak. it is unfortunate but what they think sells. of the one can i ask a quick question about jen psaki, the current press secretary? i think she's doing a pretty good job in a very difficult situation. what say you? >> i think she is a talented communicator. it is a hard job. they asked us questions. some of her dismissive comments i wouldn't have been able to get away with thomas sarah sanders one such example when asked about the crazies and the pain of the american people friday on the view, she said go get a margarita and join a kickboxing class. if there or i would have made a comment like that there would be top headlines, she is a talented communicator and get away with a lot more. stuart: we will let you go. thanks for being with us. always appreciate it. republicans threatening a

government shutdown if the next funding bill includes one major issue. what is the major issue? ashley: money for federal covid 19 vaccine mandates, no go for a group of republicans pledging to pull support from government funding legislation if it includes giving funds to those mandatory vaccinations. the current funding for the federal government runs out in mid february meeting congress will have to pass a continuing resolution or appropriations legislation. republicans plan to tell gop leadership in the house and senate that their party is reaching another crossroads. congressman chip roy, republican from texas says most republicans believe vaccination mandates are to radical and foolish but also questions whether the party can unite in opposition. stuart: we will see. back to the markets picking up a little ground, dow is up 311 points. 34,600 is your level.

ahead of this meeting with president biden, ford's chief executive officer jim farley is going one on one with grady trimble next. ♪♪ ♪♪ makes me want to take the long way home ♪♪ in my travel ♪♪ on my own ♪♪ (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money?

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stuart: green all across your screen, nasdaq of 300, dow is up 340, s&p up 67. that is a rally. there is a rally in big tech officially microsoft doing very well this morning, apple is up to present. amazon is at one%. meta-finally getting a gain of $0.61 but microsoft and alphabet also doing well especially microsoft, 4%, nearly 5.

in a couple hours the president will meet with the ceos of major companies in the auto and tech industries. the topic, bills back better. grady trimble sat down with the chief executive of ford motor company jim farley ahead of that meeting. >> reporter: we covered a lot of ground from the chip shortage to electric vehicles which will be front and center at the white house today and he says they are full speed ahead in the eve the race planning to ramp up production to 600,000 electric vehicles per year by 2023. that includes the f 150 lightning, the mustang, we talked about the electric vehicle tax credit which is part of the stalled build back better legislation. i asked farley what he thinks of standalone legislation if the build back better plan does not get past. here's what he had to say. >> the industry is only 3% in the us, 20% in europe.

half of the electric vehicles in the world are sold in china. we have to catch up. whatever form it takes for government to work with us we are going to do the investment in the product and capacity expansion to make the vehicles as affordable as possible. we need the government's help to make the switch to e mobility through consumer incentives and whatever that takes. >> reporter: the reason we are in california's line country is ford partnered with a vineyard in this area to illustrate its fleet management service and how that works with electric vehicles like the f 150 lightning and eat transit. both vehicles ford things could have great success commercially. i do want to wrap up with something that impacts people buying any car whether he is gas powered or electric and that is the chip shortage. ford ceo jim farley expects it to plague the industry through

2023 and that is one of the reasons new and used vehicles are so expensive and by his guess there is no signs of that slowing down until the end of next year. stuart: grady trimble, thanks very much. the chip shortage, companies are dangerously lower, semiconductors and chips. what exactly is dangerously low? ashley: less than five days of inventory for key chips, a survey by the commerce department shows delivery of semiconductor chips from start to finish has doubled from maximum of 182 days to 365 days a year leaving us companies in the auto industry with chronically low supplies. the biden administration is touting the us innovation and competition act, which includes $52 billion in funding to boost

domestic chip production. the house and senate debating bills that would provide additional funding for chip manufacturing, the white house claims us chip companies announced $80 billion in new investments on 2025 but that doesn't help the current situation. stuart: bernie sanders doesn't want to provide that money. and biden praising gm and their $7 billion investment in electric vehicles. what is he saying about this? ashley: a sign the administration's efforts to strengthen the economy leading to a manufacturing come back. 7 million will be spent, make electric pickup trucks which will cost $4 billion total as well as building a us battery cell plant which will cost

$2 billion was biden says his administration, laser focused on manufacturing electric vehicles and making sure the us will become a global leader in the future. the president says $100 billion has been invested to build electric vehicles and batteries just over the past year. stuart: the average price for a gallon of gas $3.34, gas buddy's patrick thehans says it could stabilize but that depends on the ukraine situation. ashley: he says prices could rise higher if the situation ukraine deteriorates but believes low gasoline demand coupled with recent market selloff will help to keep prices from rising too much. according to gas buddy oil will likely remain north of $80 a barrel with more volatility expected. but he estimates price increases could start in late february or early march.

the national average is $0.05 higher compared to a month ago. $0.94 higher than a year ago and early predictions say the national average could hit $4 a gallon this spring. stuart: heard that before from gas buddy. there is a black lives matter chapter which says cops who get shot should not be called heroes. leo terrell, how does he feel about it? i think he's pretty steamed. he is next. your record label is taking off. but so is your sound engineer. you need to hire.

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serious allergic reactions may occur. watch me. stuart: nypd officer wilbert mora who was shot during a domestic incident in harlem on friday has died from his injuries. president biden called the new york city mayor to express his condolences and also his support for law enforcement. one black lives matter chapter facing backlash from police groups after saying cops shot on the job should not be hailed as heroes. look at the reaction coverage tonight, tearjerker press conferences and proclamations of heroes coming soon. being black in dc is being more dangerous than any job. leo terrell joined me now. three questions.

how much support does blm have in the black community, how much support in democrat party, how much support from corporate america? start with the black community, how much support? >> thank you for the question. i hope every american here's the story. black lives matter has about one% of the black population's support. i don't support black lives matter. who are the leaders of black lives matter? i don't elect them. i don't support them. i 70 you they represent maybe one% of a fringe group. i want to know who they are other than tweets. next question, black lives matter intimidate the democratic party because people of color, black lives matter knows that, they play the race card against their own people. look at the city they are terrorizing. black cities with black mayors, black police chiefs. these politicians are afraid of black lives matter.

nba, nfl, they have surrendered to black lives matter. black lives matter has sophisticated lee manipulated social media to scare the democratic party. big corporations but one thing about it. they do not have the support of black americans. blue and doesn't seem to me they have anywhere near the level of support and influence they had a year, 18 months ago. i hate to say the idea is in decline but it is seriously being challenged and losing ground. >> it is losing ground but muriel bowser, and they have to call them out. and black lives matter has no sound here. until they do, black lives matter has that leverage over

black politicians, black police officers, one last point, black lives matter doesn't care about black people, the only care about a scenario of a white police officer and black victim liberty black lives matter in chicago? never. never black on black crime. it is a shakedown organization. thank you for asking me. i want to make sure america knows black lives matter is a fraudulent organization that does not represent black people or leo terrell. we when i don't even know the names of black lives matter leaders. >> that is what i am saying. give us the names of these people, let's put them on tv. don't hide behind twitter. i didn't vote for them but i guarantee you 99.9% of black americans did not vote for them as leaders. i don't know who they are. stuart: glad you got it off your chest. i'm in 100% agreement with you. i have a multiracial family and i don't like the idea of the separating out of races criticizing each other.

it is a pleasure to have you on e show, see you soon. quickly check those markets. we are up across the board, 300 up for the nasdaq, 320 for the dow. that is a bounce back rally. it is coming up 11:59. that means the wednesday trivia question. what is the highest grossing war film ever? we will see if ashley knows. i was inclined to say star wars but it is limiting these movies to terrestrial wars. ashley giving his answer after this. ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... . . . .

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♪. stuart: this is a really good question, what is the highest grossing war film ever? ashley, my guess was "saving private ryan" which i thought was one of the best war movies of all time. what is your guess? ashley: couldn't agree more. that was great movie. one or number three. you say "private ryan." i go "pearl harbor." stuart: reveal please. "american sniper." here is the story. clint eastwood directs that movie. about life of the navy seal sniper chris kyle. you know how much it brought in, ashley? this is phenomenal amount of money. ashley: no idea. stuart: $547 million. that is the worldwide box -- that is more than "saving private ryan." that was a terrific movie, everybody i know saw it.

it was way back when. ash, great stuff. thanks for being here. see you tomorrow. marketing at this moment still holding a rally in advance of the big fed meeting. the meet is about over. jay powell meets the media later on this afternoon. he will tell us about interest rates and reining in the printing of money in advance of that the stock market is up across the board. jackie deangelis in for neil. it is yours. jackie: neil, we will take all the green we can get. good afternoon, everybody, i'm jackie deangelis in for neil cavuto. some of the top stories we're watching next two hours. markets moving higher as investors focus when the fed will raise rates and rein in its money printing. we'll break down whether the central banks can do enough to calm increasing inflation fears. that is coming up. president biden getting ready to push his "build back better" to business leaders. members of his own party say the