dogged on the story, a truth9-teller on the story, and you look at the blowback you got. a lot of people would cower in the corner when you got that kind of pushback, but instead, you forged on with the truth. today is a day of reckoning. listen, i was right to cover the story, and now you're being vindicated. maria: yeah. sean duffy, steve forbes, great to be with you this morning. right to "varney & company" finish. stuart: by the way, sean is right. you were fabulous on this story. you were then and you are now. maria: thank you so much, stuart. stuart: you're welcome. good morning, everyone. more inflation news. it's not good for consumers or for president biden. it's the producer price index which tracks the cost of goods going into the production pipeline. year on year it's up 9.7%. some of that gets passed along to consumers, so the prices you pay are likely to continue to go up. big number. now look at the market.

you would think that high inflation would hurt stocks, butted today investors are dealing with something for more positive. some units will withdraw from ukraine's border and come to base. they said that, but it's not been confirmed that they've actually done it. nonetheless are, the dow's looking at a 300-point gain from the get go, up about 50 on the s&p, and nasdaq up more than 200 points. that's at the opening bell, don't know how we close. cryptos, they're up this line with stocks. bitcoin's back to $44,000 a coin, 44,2, and e etherium is back above the $3,000 level. but interest rates are rising, the yield on the 10-year treasury moving well above the 2-- 2% mark, 2.04%, but the nasdaq is still higher. the clinton campaign spied on candidate trump and president-elect trump. that was a bombshell report that the media refused to cover until this morning.

they are dismissing it now as an old, already debunked story, but sources tell fox the investigation is accelerating. in canada, prime minister trudeau invoke voces emergency powers. he can freeze the bank accounts of anyone linked to the protest. he can cancel the truckers' insurance too. no court order required. we'll see how the truckers respond to that. elon musk making news, as he likes to do most days. the richest person in the world is worried about inequality, so he's given $5.7 billion worth of tesla stock to charity. he's hinting his donation will fight world hunger. tuesday, february the 15th, 2022, "varney & company" is about to begin. ♪ ♪ and here i go again on my own.

stuart: here i go, here i go. inflation coming in this morning, big number. 9.7% at the producer price level. that came as quite a shock because it's such a big number. lauren, break it down. lauren: yeah. 9.7% in january from last january, but three straight months now where factory inflation is above 9%. there's no plateau, there's no peak, this is prolonged, and we have to see how it folds into retail sales when we get them tomorrow. are consumers are going to -- going to pull back? stuart: factorygate inflation. that's exactly right. let's move on to another thing that's affecting the markets this morning. that, of course, is russia. putin is pulling back some troops, so he says. lauren: we don't know how many of the 130,000 amaze massed -- amassed at the border will return back to bases as russia says their military drills are complete. but ukraine and nato say, yeah,

we'll believe it when we see it. they're worried they'll leave military equipment behind, and that means they can regroup quickly. the german chancellor, schultz, he will meet with putin in moscow. this suggests the situation's defused. but another thing happening today, putin may consider proposals to recognize as independent two republics where there is a big russian population. doing so can be the justification for putin to invade this week, in the future to protect russian nationals, would be the excuse. stuart: the bottom line is, he's going to withdraw some troops. we haven't seen him withdraw the troops yet, he may just be tweaking the negotiations -- lauren: we might be in the exact same place as we were. stuart: he's got 100,000 troops. the market loves it. kenny polcari this morning,

kenny on tuesdays. [laughter] today's rally seems to be a bet on diplomacy winning over military action. is that what this rally's all about? >> yeah. i think it's a relief rally, right? because they created so much hysteria and drama thursday, friday, all weekend, it was immeant, it was imminent if, any moment it's going to happen. and now this morning reports are that he's tremendous treating -- retreating. even if it's a teeny bit, the market just wants to, it wants to know that maybe diplomacy is working. so you do have this relief rally which i think will be short term and temporary because the other pointed today is the ppi number came in so strong that, you know, and the fed hasn't even begun doing anything yet. but when they do, i think that's when you're going to see the market continue to -- today it's going to focus on russia because they'll push that inflation story to the back burner. stuart: is this a good opportunitied to do some selling? why not sell into this rally if you think it's going to

dissipate later? >> well, if you're a trader type, you always like to take advantage of the short-term moves. like you, i'm a much more long-term investor, so i ride it out. the stuff i wanted to sell, i sold. that was disruptive tech, but everything else in my portfolio were names that i like. the stories were great. i was a buyer on weakness, i'm not buying it today, nor am i selling it. i'm just riding the waves. stuart: do you think the really hot inflation number, 2.04% on the 10-year yield, do you think that means the fed will, indeed, move up dramatically in march? a half point, for example? >> listen, i've been saying that they should. i've been saying they need to strike back. they need to take back control of the conversation, they need to shake the branches a little bit and let people understand that they are many in control. i'd like to see a 50 basis point move, i'm not sure they're going to do that. certainly, jimmy bullard's pushing for it, but we'll see

jay powell, he's been really mum on the subject, so let's just see. stuart: all right. as of now we've got a rally on news that putin has -- or says -- he will withdraw a few troops from the ukraine border. thanks very much, kenny. and, by the way, the rally has been maintained, up 300 on the dow. next case. new reports say the durham probe is accelerating. more people cooperating with the investigation. mercedes schlapp with us. the media is dismissing this story this morning. it's an old story, it's already been debunked, they're just dismissing it because they bought into it years ago. but i don't think this is over, right, mercedes? >> oh, i think, stuart, that this is just the beginning of what we're going to see and more to come of what durham, what the commission was able to find out. and the problem is, is that you're starting to see more and more names come up from the clinton campaign of those people being involved in this scam.

i mean, just think about it, stuart. it wasn't just the fbi that was secretly spying on, you know, the trump campaign and really spending so much, so many resources on trying to find this russia collusion. but think about it, the clinton campaign almost served like an fbi. they themselves were spying on the trump campaign. this takes political corruption and deception to a whole new level where you have this network of clinton campaign operatives involved in trying to basically destroy the trump campaign. it's like something we've not ever seen before. stuart: i think "the new york times" and the washington post should be handing back some of those pulitzers that they won for russia, russia, russia. good lord. then this point, a senior communications adviser to president biden has announced her resignation, the white house preparing for more departures, so we understand. as someone who's worked in the

white house, her said, what does this something -- mercedes, what does this signal? >> that job in and of itself, it is, you know, an important job, but it's not one of the top jobs. i think what's been interesting to watch is despite the fact that biden and the biden administration are suffering very low poll numbers which at some point you would think he would shake things up within that administration to seeyou can salvage the presidency, they're doubling down. there's been very few people who have left the biden, you know, the biden white house. i mean, ka a mala's department a whole different story. while this person is leaving, it's not uncommon if for people to leave the white house after a year. it's a very stressful job. at the same time, i just don't think that many people have left despite a crumbling biden presidency that i think they're going to have a very hard time salvaging. stuart: i've got a suspicion that on march the 1st, two weeks

from today, when the president delivers his state of the union message, he will declare victory over covid and claim the credit. i bet that's what he does to turn things around. that's just a suggestion on my part, her said. you don't have to agree or disagree. [laughter] >> i think you're right. i think he's going to make that argument that a he did do the right steps to bring these covid numbers down. the reality is that we're seeing so many of these local are cities receive pressure to get rid of vaccine mandates, but planters are still super pissed off, and i'm going to use that language, that their kids have to wear masks despite the celebrities at the super bowl not having to wear masks, and that's where you're going to see this push for loosening restrictions in all these different states. it's not because of biden, it's because of democrat governors that are saying no more to these mask mandates. stuart: tell it how you see it, mercedes. >> schlapp. see you later. >> thank you. if.

stuart: check futures again, up 300 for the dow, up 220 for the nasdaq. congresswoman alexandria ocasio-cortez claims ending child tax credit is to blame for rising crime. watch this. >> gee, the child tax credit just ran out on december 31st, and now people are stealing baby formula are. we want to say these people are criminals or we want to talk about people that are violent. stuart: okay, we're going to take that argument on later in the show. oil prices not far from from $100 a barrel. can't be good news for heating our homes or filling up at the pump. so how soon will $4 gas be with us? oil guy stephen schork next. ♪ ♪ down on the corner, out in the street ♪♪ pressure de extraordin. ingenuity... in motion.

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stuart: all right. we're just waiting to go to old what. we're going to -- ottawa. we're going to give you a report on the truckers. as we wait to get the audio right, the dow industrial average is going to be the up ant 300 points at the opening bell and the nasdaq about 200 points. why? this is a strong rally. why? in the face of a 9.7 inflation rate? well, putin says he's withdrawing some units from the ukrainian board, going back to base. -- border. he says it's going to happen, the market loves it. justin trudeau, canada now, has invoked emergency powers in an effort to end protests. it includes possibly freezing the bank accounts of protesters. grady trimble is this ottawa. what else is in this emergency powers act, and how are the protesters reacting? >> reporter: stu, the

protesters, as you can see, they're not moving, so this doesn't seem to be deterring them in any way, but these are pretty sweeping powers given to the federal government through this emergencies act. we'll show you just a few of them. for one, the federal government can ban people from gathering or traveling to certain areas, presumably here on parliament hill. it can also allow the government to essentially force private tow truck drivers to come into this area and remove the truckers. in addition to, as you mentioned, freezing bank accounts and suspending insurance of any if owner-operator whose trucks are being used in what the government considers to be an illegal blockade. on top of that, it can freeze or shut down crowd-funding sites. so these are very broad measures in an attempt to squeeze out the protesters. i've been speaking with sandra and joyce here. you don't think this is going to work. you think these guys are going to stick around. >> oh, we're here until the end. we're going to take a stand.

all the mandates will be dropped and trudeau will resignment. >> reporter: that's how you think this will enfinish. >> it has to end that way. >> reporter: what if he stands his ground? >> well, you know what? the people of canada outnumber trudeau and his elites, and as they see things happening and coursing, they're going to stand up. i totally believe in the canadian people. we want freedom, we want justice, and this is the only place i've come lately where i've felt if total love. >> reporter: you drove five hours to be here. >> yeah. and if i met a lady who drove down from alberta, three weeks here, had to go home for an emergency, canadians are passionate. >> reporter: why do you think the federal government doesn't seem to be listening to your demands and it's a protest against mandates and, as you see it, too much federal power, and their response to that is more federal powers. >> justin trudeau could come down and actually speak to the people. we pay his salary.

he doesn't pay our salary. he works for us. he's got the picture wrong. we don't work for him, he works for us. so he should get down here and speak to the people of canada. [laughter] >> reporter: all right. fired-up people out here, stu. that doesn't sound like somebody who's going to leave, to me. stuart: i like that lady on this show pronto, okay? thanks, grady. we'll be back to you later in the show. grady trimble. take a look at the price of oil this morning, back to $91 a barrel. stephen schork is with us. he's the oil guy at the moment. stephen, regardless of the russia-ukraine situation, do you think we will get to $100 a barrel oil? >> yes, i certainly do, stuart. we have a 23% probability that we'll be at $100 oil by the end of february which is quite ominous given that february is one of the weakest demand months for crude oil. this is when refineries are in their maintenance season, so these are the only people that

buy crude oil. they're not buying it nearly as much as they will be come the following months as we ramp up for the summer driving season. so as demand picks up, you go and you see continued stress in the oil market, stuart. stuart: okay. let me just jump in. $100 a barrel oil, you see it coming fairly soon. how about $5 per million british thermal units nat gas? it's now in the $4 range are. does it get to 5? >> natural gas has been all over the place, stuart. stuart yeah. >> it hit over $7 just about a monthing ago which is the equivalent of about $60 oil. in europe where they've manipulated the market -- that is to say the government came in to artificially prop up prices, back in december natural gas prices in europe were the equivalent of $300 barrel oil. so clearly, there is a disconnect in the markets. we are not encouraging supply, and demand is only growing. here in the united states.

it's a crude oil, stuart, but it's also a refinery issue. stuart: sure. >> right now we have refinery capacity cut by one-third over the past four years. so quite simply, even if the crude oil was there, we lack the capacity to turn crude oil into what we need, gasoline. stuart: so we've got at the moment $3.50 per gallon is the national average for regular. do you see it going to $4 a gallon anytime soon? >> on a national average we can get there by the summer, but that's going to require crude oil prices rising significantly above $100 a barrel. we would need to see oil approach that $310 -- 3 -- 110, 115 a barrel. that is a big ask right now. that is certainly a level if history is our guide, as it should be, that is a level that will cause an extreme amount of pain to the consumer and does sow the seeds of recession. stuart, every recession over the past 50 years has all been preceded by a significant rise in oil prices, and certainly a

rise from what we've already seen and add on another $20-25 a barrel which will translate into $4 a gallon gasoline, the economy could be in a significant amount of trouble by summer. stuart: ouch. energy price inflation lives and thrives in america today. stephen schork, thanks for being with us. >> thank you, stuart. stuart: yes, sir. we've got this new report. it shows big banks are still heavily investing in the coal industry. i didn't think that was supposed to be happening, but it is. lauren: yeah. and some of the banks have financed the coal industry with $1.5 trillion since 2019. so this is happening as some of the banks have pledged their own transition to renewables while also propping up the fossil fuel industry, serving the message if do what i say, not what i do. stuart coal's supposed to be anathema. you need it. lauren: yeah.

stuart: check futures one more time, please. we've got seven minutes to go until the market opens, and is we're going to see a rally. plenty of green this tuesday morning. we'll be back. ♪ my bad habits lead to you. ♪ my bad habits lead to you ♪♪ flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

♪ stuart: all right. we've still got that rally going. three and a half minutes to go before we open this market. david lefkowitz joins us today. david, that was a pretty bad inflation number. why is it not affecting the market? >> yeah. i think, stuart, the market has already gotten some of the inflation data for january with. we had the cpi print last week. it was hot. this ppi one is hot also. so i think the market already knows that and, obviously, you've got the positive developments on the russia-ukraine border which are the big headline today. i think what's going to be crucial, stuart, is looking at the february inflation data. how much was omicron really hurting and pushing up the inflation data in january. we know labor force availability wasn't as good, it was hard or to get, harder to get goods because of some of that labor force availability. it's possible some of the hotter

inflation readings we've seen in january may cool off a bit in february. but, look, i mean, the inflation is definitely high in general, and that's a concern for the fed, and it's something the markets have to contend with. stuart: but you're not changing your big picture forecast that we get to 5,000 on the s&p 500 by the end of the year. you're not changing that. >> yeah. so, look, i think the risks have risen. i think what gives me some comfort right now is that if you look at investor sentiments, it's really cautious. and that tends to be -- and it's for all the reasons we just talked about a, inflation, the ukraine-russia situation, and, you know, that -- those tend to be reasonably good buying opportunities especially when business activity is good. and we just heard fourth quarter earnings season, companies are doing quite well. you know, they gave guidance that was pretty good. in fact, i think the bar for the first quarter looks pretty low in terms of companies being able

to beat that guy dance. so -- guidance. it's really going to hinge on inflation. if the inflation does not cool off, then the risks to the market are going to rise. stuart: so let's suppose we have 6 or 7% inflation at the consumer level into the summer. do you think that's ad good reason why we do not get a rally at the end of the year? >> yeah. i think -- look, i actually think we get a rally sooner because i do think you could see, you know, sort of the inflation data getting a bit better because you don't have the omicron impacts. but as we get deeper into the hiking cycle and we get later into the year -- and, look, the growth rate is going to slow down in the economy, fiscal stimulus, you know, is reducing, you'll start to feel the effects of some of the fed hiking later in the year. i worry more about the later part of the year, but i think

there's an opportunity in the short term to see a bit of a bounceback in markets. stuart: well, we'd love to see it, and we've got a bit of a bounceback now. david, thanks for joining us. we'll check back in another day. thanks very much. the opening bell is going to ring in 10 seconds. we're going to see a lot of green, at least when we start trading. how we close, no clue. but when we open, as of right now, let's see some green. away we go. right from the get go the dow is up, what, about 200-odd points, that's about three-quarters of 1%. you're back to 34,800. that is the level. and the vast majority of the dow 30 are in the green. the s&p 500 also on the upside, 1% higher. nice gain there. and as for the nasdaq composite, that is 1.5% higher. of so i'm guessing now that big tech is doing well. show it to me. heir doing very well. right -- all of them. microsoft, ap m,al alphabet,

meta, all on the upside. now show me tesla. let's bring in susan. susan: good morning. stuart: here's my question -- [laughter] how many shares did elon musk sell to raise money for charity? susan: more than 5 million shares, and based on on the average price, that's $5.7 billion. the single largest donation in u.s. history. one of them, at least. no indications in terms of which charity got the money, but they're pretty happy. it does help lower elon musk's tax bill which he said was $11 billion for 2021. and he sold roughly $16 billion. stake in tesla, he's worth $200 billion plus, still the richest man on the planet. and i still haven't heard what elizabeth warren and bernie sanders think about that charitable $5 billion donation. stuart: they really don't like any billionaire whether they give to charity or not.

susan: the fact that the nasdaq is up 1.5%, bank of america says that investors are underweight, they're holding the least amount of tech shares since august 2006. stuart: really? susan: can you believe that? so they capped their gains in anticipation of higher rates, and that's what they've been selling, out of big tech. which means there's actually opportunities to add to those positions. stuart: yes, for. microsoft could go up some more. finish i'm looking at virgin galactic. i know they're up 10%. i can't believe that they're up that much just because they're taking reservations from the public to go up into space. susan: i think it's because it's been beaten down so much. virgin galactic is one of the sales spac deals, it's down 85 other the past 12 months, and any good news helps the stock. it seems to indicate when you're taking reservations, $150,000 deposits on the $450,000 seats that maybe ready for lift off. they've been delaying those trips til late this year, and

so, you know, the fact that you've had multiple years of delays, maybe there's an indication that a we are ready to go. stuart: fascinating, isn't it? susan: i didn't know that richard branson's eye was part of the brand. stuart: i'm interested to see if the cash flow from take take takings into space makes you profitable. stuart: 25,000 is nonrefundable, ask if they've been taking reservations for ten years. by the way, a fantastic mars simulation video that elon musk tweeted out last night. i retweeted it. check out my -- stuart: i get it. israeli company, intel's trying to buy 'em. this is not the first israeli company they've tried to buy. susan: no. but it helps when it comes to contract manufacturing. intel is paying $53 a share, and the fact that tower's only

trading at 46 and, you know, usually you trade up closer to the offer price if you think that deal's going to get approved and go through. what intel's trying to do is compete with taiwan semiconductor, they make the chip that goes into iphones, ipads, the second largest chipmaker in the world, even bigger than intel. so make the chips, arm designs them, and that's a lucrative business especially in this global chip shortage that they want a bigger piece of. stuart: what do you know of constellation brands? susan: what do you know about constellation brands? stuart: one of the biggest alcohol companies in the world, and they're talking about taking over monster beverage. susan: corona. constellation brands is possibly teaming up with energy maker monster. i think it needs some approvallings because i think coca-cola owns a big stake. it has to get bigger in this

inflationary environment, and that's what wall street rewards these days. stuart: see that bottom right-hand corner of the screen? we're up 400 points. that's a rally. inflation at 9.7%, you get a rally like that. who knew? susan: only 30% of investors are expecting a bear market. cash is at its highest since march 2020 at 5%. but still, you know, very few people think there's going to be a bear market. stuart: we just hit 35,000 right there. not that you care about the level. what's this about warren buffett if bought a piece of activision blizzard right before microsoft made the deal to buy blizzard. susan: they call him the oracle of omaha for a reason. we're talking about a billion dollar stake in act a vition bid arizona, and -- blizzard. and they bought before the takeover deal from microsoft. so you can imagine that the oracle, i think he had $975

million in activision shares by the end of last year. you to math. 25 up on that. that's pretty good, handsome profit if that deal closes. stuart: did he know something? susan: well, here's the thing, they thought it was cheap given the headwinds over harassment allegations and overwatch was delayed. it's not necessarily warren himself that makes these purchases. he has todd and ted since warren himself has said he doesn't invest in technology, things he doesn't understand. but the fact that they got in before that takeover deal, what does that say to you? if. stuart: it says he knows a lot of what's going on in the background. susan: well, the oracle -- stuart: he does. look at that, we're up 436 points. susan, thanks very much, indeed. 35,001. dow winners headed by boeing, doing something this 340r7bing. nike's up there, salesforce, etc., etc. all of them up sharply.

s&p winners, henry shine incorporated, american airlines. american airlines still at $18 a share, for heavens take. nasdaq winners, tesla, nvidia, microsoft -- no, microchip. i saw it at $73 a share, i thought, my goodness me. has microsoft tumbled that much? if no, it has not. this is microchip. big board, up 430 points. yield on the 10 is-year treasur, the 2.05%. bitcoin, $ 44,000 per coin. oil, down. this is the standoff may be retreating a little in russia ask ukraine, so oil is down to $91. nat gas though, 4.31, up 2.5% today. and look at this, gallon of regular gasoline on average across the country has now hit $3.50. and in california, an average of

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stuart: just getting this coming at us, putin has just confirmed the pullback of some russian troops. he also said russia does not

want war many europe. in europe. that's why the markets just took a nice leg up. the dow can's now up 450, and the nasdaq is up 250. how about this for a story? the funding for drug kits and safe injection sites could cause the government to shut down this weekend. you've got to explain that one. chad pergram is on capitol hill. chad, it is your job to explain why crack pipes could shut down the government. go. >> reporter: good morning, stuart. tennessee senator marsha blackburn is threatening to block a path to fund the government over a $30 billion grant program to provide drug kits to users. >> we want to get clarification on this. tennesseans were outraged with this, that taxpayer dollars, their taxpayer dollars, hard-earned dollars that they send to the federal government, aring being used for drug

paraphernalia. >> reporter: this raises a serious question, should the government devote taxpayer dollars to programs like these especially as the nation struggles with drug cartels and border security. the administration says the safe smoking kits do not include crack pipes. they say it would help address the crisis with opioids. >> -- kit may contain alcohol swabs, lip balm, other materials to promote hygiene. >> reporter: government funding expires early saturday. the sides are -- have reached a broader agreement for the year, but the band-aid bill is necessary. unless there's agreement, senators could derail the spending bill later this week. stuart? stuart: a fine extra if nation, chad, and i'm glad we had you on the show. you're all right. today's inflation number, 9.7% year on year for that producer price index. we'd better get some analysis,

and who better to do that than larry kudlow who joins me now. inflation's hot at the producer level. does that mean it continues hot at the consumer level? what to you say? >> yeah, i think it does. we're in a situation where the ppi leads the cpi. why is that? because there's so much excess money in the system from federal spending and federal reserve money printing that these wholesale prices can fetch, you know, they can be passed along. consumers have plenty of money. they have an excess of money, and this is part of the inflation spiral. and you know, stu, some of these numbers year on year, as you said, 9.7%, the core rate is 7%. now look at this, food prices. these are wholesale food prices, up 12.8%, and wholesale energy prices up 28.8. and one last point, services prices, wholesale services

prices are up 7.7%. this is not just goods-driven, although that would be bad enough, this is across the board the diffusion of price hikes is is enormous. this is a bad story. the fed has got to act immediately, immediately. stuart: yeah. >> 50 basis points and end qe and start taking money out of the system. they've got to start pulling money out of the system. they are so far from their 2% inflation target. stuart: but they won't. i mean, odds are they will not immediately start taking money out of the system. odds are they will not immediately jack up interest rates which could mean the problem gets worse, right? >> yes. well, if you're right, and i suspect you may be right, i mean, jim bullard is the guy who should be driving policy. it seems like he's the only guy that understands the full

consequences of this. this number today was twice expectations. stuart: yep. >> twice expectations. stuart: huge. >> so that's from it interesting. but will they? here's one of my concerns. the biden administration's nominating people to the federal reserve board who are more interested in climate change, in woke social policies, in african-american slavery reparations, i mean, they don't care about inflation. these people have written about other things. and i just question the fed's ability to move ahead. stuart: this this is the new monetary theory, isn't it? which says -- >> yeah. stuart: -- print as much money as you like to pay for government programs, it doesn't have any impact. this is absolute nonsense. i mean, i'm not from that school and neither are you, larry. >> nope if, i'm not from that school. modern monetary theory -- [laughter] has had a tough couple years. it hasn't really delivered.

the target is 2, 2%, okay? you're running almost 10. i mean, the cpi is 7.5, ppi is 9.7. i mean, come on, it's a failure. look, there's a simple way, i wrote this up, there's a simple way to do this, okay? one, pause spending. two, reform welfare so you put workfare back in so we incentivize people to go back to work. and three, throttle back the money supply, okay? throttle it back. it's up 40% the last two year. that's outrageous. that's the backbone of this inflation. three easy steps, right? stuart: o.k.. >> throttle back money, reform welfare, stop spending. stop spending. stop spending. i implore you. [laughter] stuart: see? you you know how tight-fisted i am, larry us can low, good -- larry kudlow, good lord.

we'll be watching you at 4:00 this afternoon. congresswoman alexandria ocasio-cortez says she knows what's really behind the surge in crime. what is it, lauren? they're lauren okay. you're going to hear the connection that she's making to why people are getting pushed to their deaths from subway platforms and stabbed to death in their own apartments. here you go. >> gee, the child tax credit just ran out on december 31st, and now people are stealing baby formula. we want to say these people are criminals or we want to talk about people that are violent. lauren: i don't even know what to say about that. [laughter] it was in a wide-ranging interview with the new yorker. you can pull a lot of bites and laugh. those comments are going to be behind and, in fact, are behind this push to extend the child tax credit another year. stuart: thanks, lauren. still ahead, look at this headline, please. in 20 2022 the torch will be passed whether you like it or not. ben domenech says it's time for new blood this politics, but who

is this new blood? an anti-trump republican? aoc on the democrat side? will ask him. another 3,000 u.s. troops are headed to europe. we'll take you to fort braggg for a live report. ♪ there goes my hero, watch him as he goes. ♪ there goes my hero, he's ordinary muck. ♪ uva. cabenuva is the only once-a-month, complete hiv treatment for adults who are undetectable. cabenuva helps keep me undetectable. it's two injections, given by a healthcare provider once a month. hiv pills aren't on my mind. i love being able to pick up and go. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include

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♪ stuart: you're looking there at russian troops in russia. well, 3,000 more american troops are now being sent to europe. charles watson joins us. he's outside pope army airfield in north carolina. is that where they're deploying from, charles? >> reporter: yeah. this is where they're deploying from, stuart. finish more troops are expected to take off for europe today and in the days to follow as tensions continue to ramp up between russia and ukraine. on monday we saw the first groups of about 3,000 soldiers in total deploy with the 82nd airborne, a division that is capable of deploying anywhere in the world within 18 hours of notification. after much-needed rest and

relaxation here at fort bragg, hundreds of brave soldiers geared up and said their good-byes before taking off this one of those large are military aircraft headed for poland where they'll assist our nato allies in europe. this is a mission that these young men and women, many of whom are in their 20s and on their first deployment, say they only had maybe 3-4 days to meant ifally prepare themselves but anxious loved ones back at home as well. take a listen. >> my mom she's been shaken up, but she understands this is my job. she had a couple of tears, but she's going to have to live with, you know, this is what i do. >> reporter: yeah. and so once these soldiers touch down in europe, they'll join 1700 u.s. troops already on the ground in poland where the pentagon says they will stay is. we're told they'll support the needs of the u.s. and its allies there, obviously that includes training soldiers in host nations as the world keeps a sharp eye on the ukraine-russia

border. and, stuart, no timetable as of now as to when these soldiers will return home, but for a lot of these young men and women, they're mainly excited about getting to go and assist their country in any way they can. stuart: and see the world. charles, you're all right. thanks very much for being with us. see you again soon. quick check of the markets, we are 25 minutes into the day. dow's up 330, nasdaq's up 220, s&p is up 50 points. coming up, kansas senator jerry moran, attorney general of west virginia patrick morrissey, peter schweizer and brian kill meet. ed we are loaded up. the 10:00 hour of "varney" is up next. ♪ i want to be with you every way. ♪ i want to be with you everywhere ♪♪

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>> good morning. i'm trying to get into the rhythm of this song. it is 10:00 eastern. straight to the money. the dow is up 300 points, nasdaq still up 250. the tenure treasury yield up. the nasdaq performing well. we've gotten up to 2.25%.

some easing of tensions between russia, ukraine, and the united states. putin is moving some troops back from the border. that means the price of oil goes down. that is the market, bitcoin 44,$200 a coin. that's the market. two weeks from today, march 1st, president biden delivers his state of the union message. i would not be surprised if he declares victory over covid and take the credit. in the next 15 days the new case count is likely to be a small fraction of what was in january unless a new variant arrives, it will look like omicron is almost gone. an ideal opportunity for the president to say it was a long struggle, but we stayed in there and got through it. i don't know how far it will go.

it will be a stretch to review the mask mandate that any social distancing restrictions may be on the block. the weather will be better. it is almost spring. we will be dying to get out and the president wins points by encouraging that. the biden team needs to change the tone. it has been one crisis after another, the approval rating dropped below 40%. why not turn positive? turn optimistic. if you can convince people covid is past and you did it you made it happen, and you did make it happen, maybe voters will put inflation, the border, crime on the back burner. it's a long shot but what else does he have? second hour of varney just getting started. he's back.

scottshellay. is a crazy of me to say he takes credit for victory over covid in the message to the union? >> know. i get what you are saying. he's going to throw a hail mary getting rid of color at least omicron, he might score a touchdown that is down by 6 touchdowns. there is no way spiking the football on this will get rid of the problem of inflation. inflation, there's 3 other big ones, covid, inflation, immigration and crime. crime, immigration and inflation are still there. stuart: at the producer level, over january, 9.75%. inflation is hot. do you think it will away,

fade, ease at all? >> not yet. i'm skeptical what the said can do. i've been doing this for 35 years. the fed is used to raising rates with an overheating economy, you can't say this economy is overheating. we have a unique situation, you have a tepid economy. a lot of inflation because, this hasn't happened before. they think they will surgically remove inflation from the scenario without hitting the rest of the economy with higher interest rates. the people in the crosshairs over this are the mom and pop shops. that corner restaurant that has been in those families for 70 years didn't have a drive-through. they were not deemed essential but they got shutdown and when they got to open up again the

government was in competition for labor. they pay the more to stay home than to work at the restaurant and now you have a situation where all their costs are through the roof, supply costs, food costs, labor costs raise interest rates. this inflation problem is down horrible energy situation, bad monetary situation and those things are not in the eyes of small mom and pop shops. here we are. nothing to do with those bad energy positions that they have to pay the price. is going to hurt the backbone of america and they have nothing to do with it. stuart: you can't wipe out that big negative by declaring victory over covid and taking the credit. you are all right. see you again soon. the market still in rally mode

and looking at restaurant brands up a solid 3.7%. >> revenue rose 14%, stronger than expected. there is a but even though the stock is flying, the ceo said additional price increases this year and more competition. stuart: i read the other day 8 billion chickens are consumed in the united states every year. you think supply was there. what do we have on marriott. lauren: reopening helps revenue more than doubled in the holiday 3:$45 billion and new bookings are stronger than 2019 levels, a good sign for getting back to normal. this stock was up and now it is down losing 13%. revenue jumped 90%.

they are back at their pre-pandemic levels that could be their costs are going up, operating expenses, we are trying to figure out why the stock is down so much. earnings were up 7% yesterday. investors are giving that back. stuart: warren buffett bought a big stake in activision blizzard before blizzard, microsoft announced they wanted to take over blizzard. lauren: 14 million shares worth $1 billion in the fourth quarter. that was before the blockbuster near $70 billion takeover announcement. it is 81 and change but it was 60 in the month of december. the takeover by microsoft, we are down from that which i find interesting. of the one buffett took a big

stake before the announcement of the deal. did they know something? lauren: raise that question. stuart: microsoft did announce they are returning to work, allowing them to come back. lauren: this is washington and california. they have 30 days to get it together. what flexible schedule works for you? you need to be at your desk from 9-to-5. in the first week of february, how many workers nationwide were back in the office? stuart: 60, 70. lauren: one third. people don't want to go back to the office. they have adjusted during the pandemic and since the height of it. it's a gamble on microsoft to get workers back to their job. stuart: only one third in the office.

lauren: the first week of february. lauren: it is climbing. the number has been climbing. we changed the way we work and microsoft knows that and that is why they are stressing flexibility. stuart: it is an op-ed, a peak inside the white house as bad news piles up for president biden and kamala harris. michael goodwin joined me now. is a biden has become the worst president in history. do you want to justify that? >> i don't think the fact that are unfolding before the country justify it. you focus on the market. the lack of confidence is reflected in the polls and incidents like the afghanistan

withdrawal, the covid issues. and the southern border. inflation if every household, and puts them at the bottom of any list of any presidents, modern day but you'd be hard-pressed to find someone with a worst first year in office. supposing in his state of the union message, we be covid, on the way out of it and we did it. we take credit. that couldn't turn his presidency around or change the tone of the presidency? >> i don't think so. look at -- politicians like to claim credit for everything that looks good under the sun. i don't think most people will forget. returning president biden's presidency around. stuart: okay.

i just missed your audio. we were at the important point where michael good one was about to tell us how to turn the presidency around when the audio cut out. can we restore it? we will try to get him back later at some point. levi's executive turned down $1 million to keep her mouth shut. we will tell you why the ceo told her to zip it in the next hour. president biden's sanctions may not the same power these do. what leverage does the us have over russia? the durham probe accelerating. more people are cooperating. what happens next was former house judiciary committee ranking number doug collins takes that on. ♪♪

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julie: music. kind of like it. you are looking at jacksonville, florida. it is 54 degrees. let's look at the markets. dow industrials up 350 as we speak, nasdaq up 230. 50 for the s&p. the 10 year treasury yield 206. now come back down a bit to 2.03%. and there are new reports the investigation is accelerating.

more people are cooperating. doug collins is the house judiciary committee ranking member and he joined me now. this spying of trump. could it have happened without mccabe and others knowing about it? >> it is the biggest question out of the revelation about spying not only at trump tower but the white house as well. i don't see how the intelligence community or the doj who were colluding against trump to start with didn't know about it. in the oval office president biden and president obama, the plan by clinton to tie to russia collusion. my question is will he question president obama? will he question president biden? know. stuart: it is possible president obama and then vice president biden knew that there was an operation that was going

to look at trump's computer in his campaign headquarters. they were briefed on that. >> the clinton campaign was trying to tie trump and russia together. john radcliffe and i talked about this, published in reports out of the department of justice but we know it happened. why were they not picked up by the mainstream media or others? if the government itself actually knowing about turning a blind eye or cooperating this is a danger to our democracy. against private citizen who became president and was still being done. stuart: a sitting president still being checked and looked at by outside forces. on the screens, the amount of time the media has devoted this 0 abc, cnn spent a couple

minutes, nothing from ms nbc. this morning i got the new york times and the washington post dismissing this story, it is all that is being debunked, nothing in it. that is extraordinary. >> it is. trying to cover your tracks, not wanting to -- the first will of recovery is to admit you've got a problem. they were completely in, they continued on. this whole narrative and it up in the mueller report which wasted millions of dollars and proved there was no russia collusion but we had alan's -- elements of the community at work trying to prove this connection, they are embarrassed but durham's

investigation. stuart: is hillary directly involved? i'm thinking of those emails destroyed. is that got something to do with this? >> the russia investigation started with the problem she had with emails and comey saying there's nothing wrong. that timeframe if you look at it started with those clinton emails because they were trying to put the blame on trump, not her. stuart: the most extraordinary scandal. it is huge. i wish we had more time. we want to thank you for being with us. russia says they have begun pulling troops back from the ukraine border. lauren: to avoid war in europe. putin wants to solve the issue of number ship of ukraine which

started all this. they want to push back that discussion. stuart: i hope he's not just tweeting. lauren: he has a strategy. both sides are trying to spin it as a win without an actual invasion. stuart: we find trade between russia and china reached a new high last year. doesn't this cut our leverage with russia if they can get what they want from china? >> and their ability to evade sanctions. last year trade between china and russia increased 36% and that shows the two sides moving forward together when vladimir putin sat side-by-side with xi jinping, the closest the two leaders of seen in decades was they released a statement

february 4th and that statement read a trend has emerged towards redistribution of power in the world, new era with peace, stability and development. to say russia were lie -- will rely on china, should ukraine invade. the department of defense spokesperson conference china and russia have not played well over the last decade. >> watching the public burgeoning relationship between russia and china. we would say their tacit support for russia is deeply alarming and even more destabilizing to the security situation in europe. >> reporter: more signs china might not be our friend, buying and still us technology,

yesterday the trade deal went into effect february of 2020. across the board china has not lived up to the language in that deal come a protecting delectable property. so far the white house has punted this to the trade representative's office about enforcing the deal. they are viewing it and this is what russia is seeing, reviewing, looking at, no action yet, imposing sanctions possibly but no action with the sanctions until russia did something. stuart: texas took off, mehta violated the state's privacy protections. going ahead with the epa, he wants west virginia to make climate decisions, not the feds. the attorney general of west virginia leading the charge and he will join us shortly.

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stuart: the rally holds. we are strong at the opening line we were strong into the trading session. the dow is up $3.84. the nasdaq up to dollars and $0.15. i will call that a rally because russia is moving some truth back from the ukraine border. i look at jetblue, up 6%. look at that. lauren: they are surging, adding 30 airbus jets to their fleet but they got an upgrade to perform. the company rated a lot of the airlines and not all of them got upgrades. jetblue is a winner. stuart: none of the airlines of gone straight up. it is $18 a share forever. lauren: still dealing with the pandemic. remember the big recall of the evil evil because of fire risk?

they will start making it again. not as quickly as we hoped, in april and that is why investors are positive. we want to supreme court hearing a case on whether or not state representatives are federal agencies drive climate policy. patrick morrissey joined me now. the state allowed to address climate or is it only for the feds. that is what you are talking about. >> we are talking about separation of powers. this is whether an executive agency can act without explicit authority from congress, the role of the states in the pending -- implementing a federalism regime that gives them facility to meet the needs of their -- this is an administrative law case because

it gets down to who makes the decisions and in a republic when you have a constitution that's one of the most mental questions. stuart: which elements of climate policy does west virginia not agree with? >> a couple things about this case. it will affect the epa's ability to unilaterally the carbonized the nation and that has a negative effect on our state in terms of coal jobs, oil and gas manufacturing and the price of electricity which goes through the roof. this case is about something more than climate change. it is who gets to make major questions, who gets to decide the major questions of the day? should be an unelected body bureaucrats or should congress be required if there's something major from a financial or social

significance should congress have to provide a clear statement to the epa or other agencies, congress maintained its legislative role in this process. stuart: it seems to me you are going after the bureaucratic state, the bureaucrats who create rules are policy. >> we think the size and scope of the administrative state has grown immeasurably and one of the worst offenders of that has been the epa. under the obama clean power plan, they were trying to take a little use provision of the cleaner act and transform it so the epa could be a central energy planning authority. we want to make sure congress gets the reins on the administrative state and their clear rules when an agency can act.

stuart: they are trying to save the planet. >> during this case people say you must be opposed to climate change, must be opposed to this. the reality is whether you are new york, california, west virginia, texas, we all deserve a seat at the table to decide what the policy looks like and if you transform the system so unelected bureaucrats can make decisions on something as fundamental as carbon emissions, we acknowledge this is a big issue, congress needs to provide a clear statement of authority and let there be a robust debate. what are you arguing this yourself before the supreme court? >> i have someone who's going to argue and get ready the last number of months. we tried to bring a killer team of people and great people in

the field to do incredible things for the state of west virginia. i'm excited, we are getting ready, we have a reply brief on the seventeenth so there's a lot underway i'm in the beloved but i'm excited for the team and most importantly for the country. this is an opportunity to provide clarity going forward about the role of these federal agencies and the type of power they have. stuart: the administrative state. we wish you well. appreciate it. black rock getting into green stocks. good morning. what is a green stock and what are they saying? >> and i mentally friendly stocks. investors who ignore the river of capital flowing to lower emissions comedies, technology and healthcare will miss a big

market opportunity. black rock analysts say the transition to the carbonized thing the world and sustainable as it is happening leading to a great repricing that has a lot of room to run. the report doesn't preclude brown assets like the traditional energy stocks from staging rallies at times as they can benefit from mismatches in supply demand as the economy is rewired to reach net 0 carbon emissions. black rock sees the transition driving a bigger return advantage for greener sectors for years to come. stuart: only time will tell. remember the delorean from the back to the future movies? watch this. >> you back up. we don't have enough road to get up to 88. >> road? where we are going we don't

need roads. stuart: you could soon own the new version. we have details. a freedom convoy crackdown as mister trudeau threatens to freeze the bank accounts of protesters. ♪♪

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stuart: canada's by mister justin trudeau trying to shut down the trekkers freedom convoy. gives him the power to freeze personal bank accounts. grady trimble is in ottawa. you spoke to some of the trekkers who are still there. what is the reaction? >> reporter: no change.

stuart: we had this problem last time. he is there and i think you can hear me. start your report again please. >> reporter: no change is what we are seeing. we've seen more trucks coming into this area on parliament hill than yesterday. i have a a with me. tyler has been at a rally since day one. you say trekkers meets twice a day, once after the emergency that was invoked, you met again this morning. what's the mood among the trekkers? >> reporter: same as yesterday, spirits are high, everyone is dead set on staying here. >> reporter: this gives the federal government a lot of power. in addition to being able to freeze bank accounts it also gives them the ability to force private toad trekkers to remove the vehicles from this area

among other things. does that worry you that this could turn south? >> not at all. we are friendly with them, it is there. >> reporter: you said you can't do your job. you are unvaccinated which means you can't cross the us border which is what you do for a living. any threat to your bank account doesn't scare you? >> not at all. nobody going into it anyway. i'm in the same boat right now. >> reporter: what if they stop the crowdfunding site somebody you accept donations? >> they tried it numerous times. we had a lot of folks with donations. >> reporter: how long can you stay here? it has been 18 days. >> 18 more or longer. i'm here for the long haul. >> reporter: that is what we are hearing, no one is deterred by these changes.

i haven't seen enhanced police presence moving in to move the trucks. we will keep you posted. stuart: thank you. back to the markets. take out the markets overall, backup to our 400 point gain for the dow industrials and the nasdaq, a solid rally. this is because boudin says he's pulling back some troops, partial pull back from the ukraine border. nato has yet to confirm any troops move but the market likes it and the dow is up $4.20. microsoft is close to getting back to $300 a share, apple at 171, and so on down the line, big tech rallying despite the fact interest rates are up. meta platforms, not much change, $0.39.

the state of texas is suing meadow. what are they suing about? ashley: texas says facebook's parent meta now discontinued use of her facial recognition technology violates privacy protections for personal, biometric data. a lawsuit by ken paxton who has been on the show regularly asking for civil penalties in the hundreds of billions of dollars. the suit says the capture of facial geometry and photographs that users uploaded resulted in tens of millions of violations of texas law accusing facebook of secretly harvesting those photos and videos words corporate profit for more than 20 years which is prohibited under texas law without

consent. they say the claims are without merit adding that before the facial recognition system was shutdown users always had the option not to provide consent. this issue heading to court. stuart: how do you not provide consent? you have to read the fine print. we are back, alexandria ocasio cortez blaming rising crime on ending the child tax credit. watch this again. >> the child tax credit just ran out monday summer 31, people are stealing baby formula. we want to talk about people that are violent. stuart: we are going to get into this. meanwhile an asian woman was just stabbed to death in her own new york city apartment and the suspect was on supervised release after committing a long

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yuna lee had a string of arrests going back to 2012. take us through it. >> reporter: he was a symbol of the revolving door on justice that has got to stop spinning. it is a crisis of repeated offenders. asamad nash has 27 criminal mischief counts and he was on supervised release for a violent attack in september. now he's charged in the shocking murder of christina yuna lee. he is seen allegedly following her from the street up the stairs in her apartment building where he pushed his way in and stabbed her to death 40 times. >> it is sickening how she was murdered and how brutal the

crime was. how many times she was stabbed. how she was doctor. the whole scenario is unfathomable. >> reporter: critics are blaming progressive democratic policies for putting repeat offenders on the streets but the state legislature in albany are refusing to change the law. there's a republican plan called restore order that would deny bail to repeat offender convicted of one or more offenders, other measures like dealing with felony counts and making sure violent felons do not get any parole for life. new york state assemblyman kevin byrne says repeat offenders have to be stopped. >> if they have mental health issues let's get them help but they can't be on the street committing crimes and attacking people.

this recent case, murdering people, stocking people and stabbing them. >> reporter: manhattan's district attorney, the controversial progressive promised not to sentence anyone to more than 20 years capping sentences at 20 years. that means if nash is convicted he would get out of prison when he is 45 years old. stuart: you told the story well and we appreciate that. brian kilmeade joins us. soft on crime policies i think are to blame for the situation in new york city but my heart goes out to younger asian women in america's cities. they are being picked off and this is terrible thing. how do we get people to come back to the cities with this kind of thing happening?

brian: people are coming back, they were down ridiculously low. people are coming back routing out the criminals but not the homeless was a lot of these people, the vagrants, people you used to feel bad for now you have to run from in fear from. the guys coveting these crimes, already homeless, mentally all, violent, multiple offenders somehow escaping prison. stuart: it is a policy. you don't go to prison. we don't give people high bail. this is policy. this is not a quirk of nature that suddenly happen. it is policy and the democrats in albany refuse to change the law. brian: the amazing thing is when you have a mayor like mayor adams and i'm sure he said there's a lot of momentum, talk to my own party and i will

give them cover so they want to back off and survive personally and professionally so they will do that. he said it publicly and got rebuked by city council and went to albany and got rebuked again. i had the police chief ryder of nassau county, he said we don't get the paperwork done instantaneously and give it to a judge, if we can't get the paperwork done is get the background check done they are out before we can finish it. you know what has happened? the numbers show people are not committing another crime. they don't show the people who aren't arrested, in two days or two hours we will be out again so why should i bother? you are not going to back me anyway. you have me put my life on the line to grab him and bring him back in and the court says go

back out. stuart: how about this? alexandria ocasio cortez claims ending the child tax credit is the reason for the rise in crime. role that please. >> the child tax credit just ran out on december 31st. now people are stealing baby formula. we want to say these people are criminals, talk about people that are violent. stuart: she is factually wrong. they are not stealing baby formula. they are taking everything they can. last word to you. brian: christina yuna lee was dead by homeless guy 25 to 40 times, she was followed home, been up, had to fight for her life, she lost, stabbed to death in her bathroom. she is asian.

he didn't have any baby formula, the asian man who was thrown in front of a train at 63, didn't have any baby formula. what about the model that was beaten up? she didn't have any baby formula on her? she's from queens. how could she get that out of her mouth talking to new yorker magazine. unbelievable. stuart: in new york, precisely the place where this awful thing is going on. it is unbelievable. we will see you later. quick check of the market. the dow is up 446 points. the nasdaq up nearly 2%, 270 points higher. this is a rally across the board tuesday morning. kansas senator jerry moran, peter schweitzer, ben dominic, the 11:00 hour of "varney and company" is next. ♪♪ hello hello ♪♪ i don't know why

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ladies and gentlemen. it is 11:00 eastern time. it is tuesday february 15th. look at this. that is a rally and a half. the dow is up 450, the dow is up 260. tensions easing between russia and ukraine. president biden speaking with france's macron, germany's chancellor speaking to vladimir putin. he is withdrawing some troops from the border. easing tensions, raising the cryptos as well, bitcoin up to 42, ethereum up to 30,100. the yield on the treasury at 2.04%. when that yield goes up stocks go down, not today. yields up, nasdaq up. now this. alexandria ocasio cortez has made some startling headlines.

she says texas turning blue as in democrat is inevitable. now she is saying younger men are stealing baby formula in the shoplifting surge because the child tax credit is no longer being paid. that flies in the face of reality but she's grabbing a lot of attention. what is the strategy? two things. first, she's trying to keep socialism alive. trying to reassert the left's dominant position in the democrat party. the democrats, not the democrats but the left has taken a beating recently most of what they want is not likely to get past in congress, income redistribution, the green new deal back on the map. the committee wants to establish herself as the new young blood the party clearly needs. president biden is 79, speaker pelosi is 81. steny hoyer is 82.

the squad of which she's the unofficial leader has ilhan omar, rashida tlaib, 45, this is the left, a generation younger and the current leadership of the democratic party. these young leftists come from very safe seats. hard to see any of them losing their seats this november. they want to run the show when the moderates go down to defeat is unlikely will. aoc is a gifted politician whether democrats like it or not. she's the face of socialism's new blood. third hour of varney just getting started. in 2022, the torch will be passed whether you like it or not. den --ben dominic wrote that.

how about aoc as the new blood for the democrats. will that fly? >> i think it will. thank you for having me on. i'm in the mindset that we are seeing the end of an era in american politics in a number of ways, the passing of the torch away from the giant impact the baby boom had an american politics. we had three presidents, bill clinton, george w. bush, donald trump born in 1946 which is amazing. it says something about the degree to which the baby boom had a world altering effect in terms of not just impacting america but around the world. in our politics today you see arising generation on the left and the right taking things over. in the super bowl we had a

contest between two coaches, age 36, and 38. a situation where their victory, winning with the los angeles rams set a new trend toward younger coaches taking over teams. you will see the same happen in american politics in the coming years and as you said in the monologue. and more toward the extremes particularly in the safe, leftist districts that use -- squad that are likely to win and more progressive likely to win from the fall. stuart: any names in mind for new blood in the republican party? >> one of the interesting things at the current moment is a of younger senators who are not just going to emerge in the coming years as new voices to take on topics. we've seen that from senator

josh howley, one of the younger members of the body but what you are going to see, a swath of new members from across the country, many of whom will be unexpected, and there are increased challenges for older members who have been there for a long time. and the list of priorities republicans did in the new congress but in 2024. stuart: i am a baby boomer, we made a mess of politics. i'm prepared to pass it along to a new generation. the baby boomers introduced a

crazy degree of personal liberation which was fine and dandy but didn't work out well. it became identity politics. last word to you. >> level of self introspect icon the menu for and i agree. stuart: we are naval gazers, our generation. see you again soon. got to get back to the markets. the dow is up 450, nasdaq up 250. michael lee is with us. this man has a reputation as the super bull. you are beginning to change your tune for the short-term. i read your stuff and you say things are getting ugly. explain yourself. >> reporter: this ppi number was awful. the inflation numbers we got last week were terrible. at this point, we should be seeing month over month

deceleration. some large year-over-year numbers but this needs to subside. bullard talking how they need to raise rates, they are moving their window as to see what the market will accept without total and complete meltdown. you are seeing shortcomings based on the russia ukraine news. we are not necessarily going to war until we get a more narrow consensus. it is hard for the market to make major directions. volatilities here for the short-term. the chicago national liquidity index, triple be, single a, when those start to widen dramatically that is the end of the market. we are not there yet.

stuart: you are not buying in. >> the things that are down like energy. you have a huge supply demand problem. a little pressure from the price of oil taken off from these tensions, i would be adding to defenses which are up, selling some technology. this inflation is under control. we are in a stagflation environment and this could get ugly. stuart: that would be ugly indeed and it is coming from you. see you again soon. the movers, airbnb. lauren: they are likely going to swing to a profit. it is opening up and the high vaccination rate, you want to

watch for the bookings, watch the cancellation rate, with omicron people did cancel and people working forever, that number has grown the last quarter. the biggest growth area was 28 plus days. stuart: covid was almost through the new cases are way down. don't forget the president on march 1st could come out and say we have been this thing. open up. he could say that. lauren: we are a have. look at the airlines. the government transportation department said passenger airlines carry 83% versus 2020. we are not at the pre-pandemic levels. delta up 5%. covid is behind us. stuart: crowd strike. lauren: look at the security

company. they are bracing for a potential cyber attack. senator marco rubio is worried about cyber warfare, something we've never seen by russia against ukraine. stuart: we know what they can do to us but we don't know what we can do to them. lauren: how bad does it get? stuart: canada threatening to freeze the bank account of truckers and the freedom convoy. we will talk to one of those truckers coming up. the president's woke agenda cost the military millions of man-hours, hundreds of thousands of dollars. the durham probe find hillary clinton and her campaign spied on donald trump. where is the media on this? peter schweitzer is here after this.

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stuart: how many people watched the super bowl. it drew an audience of 101 million viewers and that is up 8% from last year. separate story now. a new report shows hunter biden complicating our energy independence. alexandria half is with us. what did hunter do? >> reporter: the company helps facilitate the sale of a cobalt mine in the congo.

the transaction took place in 2016. that is a major problem hunter's father is trying to make up for. cobalt is the critical component needed to produce long-lasting electric vehicle batteries. they have exclusive control of the vehicle supply chain. here's the president last week. >> president biden: we will end up with illegal export market as well. >> reporter: the department of energy announced $2.9 billion will go to attempting to develop areas to mystically. ranking member of the house oversight committee james comer wants to know how we came to this. he wants document on the hunter biden business transaction, quote, the american people deserve answers why the obama administration watched in

silence as american companies transferred controls to purchase assets to a chinese conglomerate. congressman comer said they will conduct oversight on hunter biden's business dealings which make the proliferation of electric vehicles less of a reality. stuart: thanks, see you again soon. that man there is peter schweitzer, author of the book red-handed, how american elites get rich helping china. you know about it already. hunter biden, cobalt, energy independence and collusion with the chinese. >> it fits the pattern. hunter biden's involvement with chinese firms and not just put money into the pocket of the biden family but serve the role of advancing chinese interests

around the globe. civilian and military uses. they were invested in cgn which is a chinese nuclear atomic power company charged by the fbi for stealing nuclear secrets in the united states. the cobalt deal fit that pattern. this is an example of hunter biden serving the interest of the chinese state at the expense of his own country. stuart: do you think we should go back and check it out? is that the right thing to do? >> i think we have to. the problem, if this is allowed to go on, what hunter biden did without any accountability or investigation, it will be, pattern of behavior, politicians and family members doing deals with china.

when congress comes in in november, you will see investigations with subpoena power and that will shed more light on what went on. stuart: how about the durham probe which is accelerating and more people cooperating with the investigation? this is about spying on trump as a candidate. how does this play out? >> durham deserves a lot of credit? he's being persistent and direct. if you go back to watergate it was a break in designed to get campaign information or find dirt from the democratic national committee and that led to watergate. it is 10 times worse because this building to one donald trump is not just a candidate, that dirty tricks, it may be

illegal but dirty trick campaigning. they were monitoring him when he was president of the united states, taking it to another level. laws are broken but somebody needs to to go to jail broke the law. it makes a mockery of any kind of restrictions on these political shenanigans by political candidates or contractors to the government who were involved as well. stuart: are you surprised the media walked away with this? they are dismissing the story and the rest of the media isn't covering it. >> they stepped back because they took the narrative hook, line, and sinker. they bought into the rumors, speculation, the claims that were never supported by evidence. robert mueller demonstrated they weren't supported. they were embarrassed, they

don't want to cover it because it requires them to say all this reporting we did previously was wrong. it is time for media to swallow their pride, be honest with their audiences. there should be scrutiny of donald trump but also president biden and his family and that should not happen. stuart: talk about hillary clinton making a comeback. that puts pain to the whole idea she can't run in 2024. >> it will be a challenge for her. she has the following in the democratic party that brings baggage with her and it will be further baggage. this is an investigation based on what durham found the creeps its way to the top of the latter. it will eventually land at the footstep of hillary clinton herself. she could be an attractive

candidate in some respects but i don't think she's a viable candidate in 2024. stuart: thanks for being with us. come back soon. to the market. the green is still right there. the dow industrials up 430 points, nasdaq of 275. it is tuesday morning. oil has come back off of its 7-year highs, $91 a barrel, 4% lower today. why the big drop today? ashley: it is all on the headlines the russian troops are pulling back from the ukrainian border. a move that could de-escalate tensions. or you'll hit a high of $95.82 a barrel, the highest level since september of 2014, both on concerns of the war in eastern europe and continuing tight supply. it seems inevitable that it

would hit $100 but for now it has been put in check though another headline and could turn the other way. the latest weekly reports show a drop in crude stocks underlying the tight supply pushing the price up again. despite what's going on in eastern europe, oil prices could indeed rebound from here. stuart: another one, you need to explain. republican leaders say president biden's woke agenda is costing time and money. how does a woke agenda cost hundreds of millions of dollars. we 5 i tell you, it, more than 6 million man-hours have been used implement president biden's leftist social agenda according to republicans. let's get into this.

responding to a letter from republican senator james inhofe , general mark milley revealed 335 hours worth spent a new training protocols involving climate change, diversity, equity and inclusion. 11 other republicans issued a letter monday accusing the dod of targeting military members, relations with russia and china continue to go downhill and accuse the biden administration of being more focused on its leftist social agenda while the country faces very real threats across the world. that is one big eye roll i think. stuart: an executive at levi's was forced out of a job over

politics. justin trudeau in canada in both emergency powers to stop the trucker protest. bank accounts could be frozen. we will speak to one of the truckers to see what the reaction is to that. ♪♪

♪♪ it's not unusual ♪♪ to be loved by anyone ♪♪ stuart: i haven't heard that song in a long time. i have never been there. looks like a nice place. it is sunny as of right now. we have come back a little bit. it is up $3.77. the movers for you. i want to start with rivian. lauren: tom jones, stuart varney kind of the same.

lauren: losing money on the trade, it is another billionaire, third point capital, a quarter million dollar steak made $3 million on that ipo alone. this electric truckmaker, what does that tell you? stuart: it's getting a lot of interest. susan: avis is a meme stock trade getting hammered. better earnings to end last year. 2022 hasn't started off well. rental is down. the counter trade in the travel sector. marriott is rallying, beating by a lot in the last few months of 2021, occupancy rates recovering. when the biggest hotel chain in the world. susan: we provide the services around it. stuart: cryptos in line with stocks. susan: the risk trade is back on.

fidelity launching their first spot price etf, bitcoin etf in europe which is a big deal because they can't get approval here. across the atlantic more easing up on regulations, 20 million hits on the website and one minute after the super bowl. stuart: that just batted around the screen. susan: that was really funny. i didn't bother asking if you watched the halftime show. i didn't talk about snoop dogg or dr. dre because i figured eminem or fiftycent. stuart: it is not that, it is fitty. you didn't mess around.

all right. the delorean, apparently is making a comeback. there has got to be a difference was when the old one and the new version. ashley: there is no flux capacitor. it will make a production come back after teasing a future release with an ad during the super bowl. few details are known about the actual vehicle but the company is setting up in san antonio, texas. the original delorean motor company went bankrupt after producing just 9000 vehicles. the company engineer bought the rights to the name and is bringing the sports car back alive. stuart: the flux capacitor.

okay. you know what it is? susan: it is part of the car that took you back in time into the future. stuart: it wasn't really on delorean cars, wasn't it? susan: we can make one up. stuart: do you remember that the delorean was made in northern ireland, this was the way of getting jobs into northern ireland. i wonder where they will build anyone. but i'm a terrible company to do that. it went bust pretty quickly. stuart: some news that is completely different. look at this. prince andrew has settled a lawsuit brought by victim of jeffrey epstein. virginia accused him of sexually assaulting her when she was a teenager. the case will be dismissed in federal court, the some of the settlement and where the money

comes from has not been disclosed but who paid? the royal family, british taxpayers? we will find out sooner or later? the senate banking committee scheduled to vote on the president's said nominees but they boycott the hearing. senator jerry moran will join us shortly. what is the problem? texas suing mehta, the parent company of facebook, citing facial recognition technology taking advantage of users and their children. we've got the story. ♪♪

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stuart: the rally holds. we are two hours into today's trading session. the rally has strengthened a little. the dow is up $4.51. the nasdaq is up close to 300 points. all across the board, this is a rally. in canada prime minister justin trudeau has in both emergency powers which give the government the power to freeze private bank account of truckers involved in the freedom convoy. james gould is taking part in the protest and joins me now. how do you feel about having your bank account possibly frozen. would that make you leave the protest? >> absolutely not. i'm not one bit intimidated by the course of action he pursued last night. another scare tactic on my belief to get us scared, force us out of here as he has been

trying to. i don't see it making a difference for most of us. stuart: there are reports you don't have the support of the majority of canada's population. with your response? >> the majority of canada is standing here alongside of us. even if they are not in ottawa they are back home supporting us. you can call it a fringe minority but i believe it is a majority of canada that speaks for this. stuart: what is at the heart of your protest? as it the vaccination mandate or something else? >> vaccination mandates on the top of the list when we came into this. it is definitely greater than that, freedom of choice, freedom of rights, everything that has been taken away over the past years, freedom being the top one.

stuart: this has just come to me, just getting this news. you may not know this but according to the canadian broadcasters, a reporter says the ottawa police chief has resigned and will make a public announcement later today. what is your response? the police chief just re-signed. >> he is a coward and backing down, he knows what he did was wrong. everyone will jump fence and realize how unlawful they have been towards us and the crazy things they are trying to do. stuart: maybe the police chief favorite you. i don't know this but it is possible he supported you. we are told some police officers support your protest and he is resigning because he doesn't like these emergency

powers. it could work that way around. >> he could be in our favor but it is hard to say. he tried to shove us out but that falls under the authority of control. he was controlled by his head commanders to do what he was told, hard to say. he could be joining us and it could fall into our favor. stuart: thanks for reacting, we appreciate it and understand your staying as long as it takes. we now know how many new york city workers lost their job because they would not get the jam. 1400 government workers terminated, 25 fire department workers, 19 the permit of education staffers. the attorney general of texas

filed a lawsuit against mehta formerly known as facebook about facial recognition practices. the platform ignore the legal requirements for capturing users facial features. what does this mean for the expanding meta-verse? >> reporter: this could impact their meta-verse plan. where they are staking their future. they announced they would stop using the tool but made no such promises, the fact i was granted a number of parents to create more human looking avatars dictated by tracing body movements through different wearable equipment. beyond making the experience more equipment, this would help sell products more sophisticated. tracking eye movements will tell you how well the ad is resonating. this one in texas gained steam and could draw attention from

regulators and consumers just as the meta-verse strategy is beginning. facebook has been storing many biometric identifiers. ken paxton claimed mehta deceived the public by sharing the personal information to other entities to exploit it. they are pushing back, these claims are without merit and they intend to defend themselves. there is little context for the present allegations. highlighting facebook's track record with privacy concerns. i want to deck out they settle a similar lawsuit over facial recognition practices for $650 million from illinois. this could mean more opposition is on the horizon. the larger follow-up could be to the meta-verse plan. stuart: thank you very much.

the senate banking committee scheduled to vote on the president's said nominees but the republicans will boycott the hearing. senator jerry moran joins me. why are you boycotting? >> good afternoon. the banking committee has a significant role in who should do that, the president's nominees are troublesome. sarah bloom raskin is creating troublesome issues. my understanding is the republican leadership, to proceed on votes for all that sarah bloom raskin, we should have more information before we take that vote. my impression is republican members of the committee's only recourse to keep a vote from

occurring is to deny the majority a quorum. that's the goal, to get more information about sarah bloom raskin. stuart: that is who you object to. because she wants to put green climate policy in front of the federal reserve. the fed should adopt a green policy. >> don't want that from energy producing state. it is not the federal reserve job to determine energy policy and the fed as significant response to job creation and interest rates, that's where they should be focusing. that is a reason to be against this nomination. the committee has asked for information about sarah bloom raskin's involvement in

transactions that occurred after she left the obama administration related to grant by the federal reserve. not just that the witness, the nominee is not responding but the federal won't provide information and that is a reason to delay. stuart: we appreciate you being here. see you again soon. the district of columbia, washington, dropped vaccine and mask mandate for restaurants. we will talk to a dc restaurant owner who is surely happy about this. we will be back. ♪♪

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ambassador said. washington dc will no longer require proof of vaccination for people entering businesses as of today. the city will lift its mask mandate starting march 1st. you on the junction bistro in washington dc, you've got to be happy about this but you don't have to show a vaccination passport. >> hard to believe considering she rescinded in november and we have a chance to run our businesses the way they are supposed to be run. stuart: how about those outside eateries. did you have one? >> we didn't see the value particularly in the winter time. we hoped it would be lifted in time for the spring and we hope we have a chance of doing that. we won how much was your business down when you had to

show the vaccination passport? >> we saw an immediate hit before the vaccines, first it was the masks and then the vaccination mandate. from the mass, 25% drop and subsequently 25% or more. stuart: you have another restaurant in virginia, i don't think it had the passport restriction. they did well as your dc restaurant was not doing well. >> we have several restaurants in virginia. every restaurant in virginia was up 25% in 2021 from paris covid numbers. stuart: that is huge. we are happy about this and glad you could jump on the show and we hope the restaurant in dc has boomed times. if i was down there i would

walk in myself. >> we are ready to turn the corner. stuart: come back soon, see you later. a long time executive at levi strauss is announced she stepping down from her position. what does this have to do with covid? ashley: levi's top brand president quit the company because of outspoken opposition to covid policies in schools created a fraught work environment. from the onset of the pandemic she appeared on news shows and rallies to advocate for schools to reopen with mask rules maintaining the draconian policies cause the most time to those least at risk but believe i executive faced pushback on social media and her own colleagues and was asked by the company to quiet her views and

go on an apology to her. she turned down a $1 million severance package because it came with a nondisclosure agreement, that is what she's doing. stuart: they wanted her to go on an apology tour. we are going to move on. we have the tuesday trivia question. this is just for you. which insect can figure out the air temperature, indicate the air to check in which insect can figure out the air temperature? we will be back with the answer after this. this isn't just freight. these aren't just shipments. they're promises.

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stuart: i don't know where they get these questions from but this was a real puzzler so to speak. which insect can indicate, that means figure out the air temperature? okay? ashley there? do you want to guess on this thing because i have absolutely no clue whatsoever. so let me do this. the answer is the cricket. listen to this. you can determine the temperature by counting number of times a cricket chirps in 14 seconds then add 40 to that number, you get the air temperature. did you know that? will you spend time figuring it out that? i don't think so. you will go to a thermometer. i have to talk about a project i'm involved with bret baier a panel event to for the

children's hospital. this saturday, 9:00 p.m. eastern, naples, florida. tickets are sold out. there is a silent auction open to everyone. all-star panel event.com, click the silent auction button you can register and you could bid on having a dinner with me. if you pay enough, you could have dinner with me, if that is what you really want. time's up for me. jackie, it's yours. jackie: i will be the first bidder, stu. i'm jackie deangelis in for neil cavuto on "coast to coast." russia says it pulls back some of its troops but a u.s. official just said there is no sign of that yet. another standoff, just to the north of us. canadian truckers aren't backing off their protest against the vaccine mandate, prompting prime minister trudeau to implement