stand-alone bill that would prevent the government from sending drug paraphernalia to people who are addicted to drugs. they were going to send out these smoking kits that could be used to smoke mental health and crack -- meth and crack. i don't want any of our money to be spent on things like that. so if we can get through hurdles like that and delay -- and they come to their senses and support it, i think we can get something done today and live to fight another day. maria: thank you for that amendment. it's absolutely extraordinary that we're even talking about the administration giving out these pipes. senator, good to see you, as always. thank you, sir. marco rubio. have a great day, everybody. "varney & company" begins right now. stu, sorry about that, right to you. stuart: no problem. very good news from the senator. good morning to you, maria. maria: yes, it was. stuart: all right, everybody, late developments this in ukraine. russian-backed forces shell a kindergarten in ukrainian-controlled territory.

russia has moved 7,000 more troops to the border. they had said they were pulling back. that's not true. this morning the kremlin says it does have a timetable to withdraw, but out takes weeks to do it. the steady stream of world leaders makes its trek to moscow today, italy's foreign minister, before him, macron from france and schultz from germany. putin loves it. the stand off continues. look at this, the dow is going to open down about 200. s&p down about 30. and a big drop for the nasdaq coming up, down over 100 points. we have the price of oil at the $92 a barrel range now, still in that low $90 range. bitcoin slightly lower this morning, you're back to 42,3. it, too, is in that low $40,000 per coin range. now politics. the president's approval rating coming down, way down. some more, actually. quinnipiac puts approval now at

just 35%. that's it. meanwhile, the democrats are getting restless. pro-biden nbc news says democrats to biden, time to make changes at the white house. that's from nbc. there will be no change, of course, today. the president heads to ohio will where he will again push build back better and the new deal. that, he say, will bring inflation down. in a raucous parliamentary debate, prime minister trudeau accused people of standing with people who carry swastikas. thursday, february 17th, 2022. "varney & company" is about to begin. ♪ ♪ ♪ this is gonna be the best day of my life ♪♪

stuart: what's that, the best day of my life? [laughter] lauren: okay, that's hopeful. stuart: i'm up for that. welcome to the show. as you can see, stocks are urge pressure this morning. red all across the board. in part it's the because of developments in ukraine, but it's also in part because of developments at the federal reserve. the fed is signaling faster rate hikes. good morning, lauren. talk more about that. lauren: good morning. at the end of january, the officials discussed an accelerated timetable for raising interest rates, and that would likely begin in march. until be the first hike in three and a half years. now you have jpmorgan joining goldman sachs and bank of america in the seven rate hike club. why? they have to bring down inflation which is at a 40-year high. but this is damned if you do, damned if you don't. if the fed does not increase rates to deal with the problem of inflation, there could actually be a negative market reaction because the belief will build that the fed can't handle

the issue. but then can they do seven and not hurt the economy in the process? and then you look at russia and ukraine, does that tie their hands? what do they do? many how do you invest in this environment? and i'd call them extremely outdated. stuart: how do you not deal with inflation? the fed's in an absolute bind. lauren: my prediction is go 50 in march and then you pause. stuart: careful. lauren: i know. stuart: but we hear you. dr -- d.r. barton's joining us this morning. same question to everybody. interest rates are going to rise. inflation is right up there above 9% at the moment, so why buy into the stock market at this point? why? >> well, stuart, every time we get some little trickle that we're having now, right now ukraine's much more than a trickle, but we get those pullbacks, and those become great buying opportunities because of the trillions -- not billions of or dollars -- still

sitting out there that's cash to be put to use that's going to come into the market in ad van today juice ways, and that is going to keep us moving higher toward the end of the year again. we're going to get bounces in between there now -- stuart: look, i've got to come at you. d.r., i've got to come at you. i do respect your position, but it seems to me that on wall street it is beginning to sink in that stocks are not going to go much higher anytime soon. i think that realization is there. inflation, interest rates, russia-ukraine, you know? come on. it's sinking in. >> it is sinking in, and here's what i'm seeing, stuart, and the people that i'm talking to are looking at the things that when this russia-ukraine thing resolves either way, if we get a shooting war -- we hope that doesn't happen -- every time we get a shooting war like that, stuart, the market absorbs it, lookings at it and then -- looks

at it and then keeps going in the direction it wants to go. that's what i'm looking at here too to take advantage of what's happening while we get these little pullbacks, these one-day, two-day, four-day drops. suiter stuart here's what i see as an opportunity. covid is almost gone. therefore, i think the reopen trade is one that can be made now and which will be profitable for the rest of the year. what say you? >> yes, absolutely. and of that was even in my notes to you, stuart, and i believe that that reopening trade is going to do really well in a couple of areas, airlines and the restaurants were down 83% on the number of covid cases per million people in the u.s. that is fantastic. and restaurants and airlines are still down well below their 2019 numbers even though they peakedded mt. fall of last year -- peaked in the fall of last year. getting into names like darden

restaurant, ual -- united airlines -- on a little bit of a pullback, i think, is going to give people an advantage to make some money in that reopening trade coming into the end of year, as you say. stuart: okay. we'll leave it at that. the reopening trade is looking pretty good. i'll give you that. d.r. barton, thank you, sir. we'll see you soon. here's a headline for you, warren buffett is buying into crypto. hold on a minute. [laughter] remember, please, that his right-hand man, charlie ming, called bitcoin rat poison squared. is he actually buying crypto? lauren: yeah, yeah. sort of. so berkshire hathaway is buying a billion dollars of a digital bank, new bank, brazilian-based, that does not allow trading in cryptocurrencies. but one of its units allows investors to invest in crypto.

baby steps for buffett and munger. and i i just want to point out that the situation in latin america and brazil, it's different because there there's large disstatistics with their traditional -- dissatisfaction with their traditional banking system. stuart: all right. thanks, lauren. now this, absolute chaos and some outrage in canada's parliament after prime minister trudeau accused conservative members of supporting people waving swastikas. watch this. >> he fans the flames of an unjustified national emergency. mr. speaker, when did the prime minister lose his way, when did it happen? [applause] >> to my conservative party members who can stand with people who wave swastikas -- [inaudible conversations] they can stand with people who wave the confederate flag. these illegal protests need to stop. they will finish. [inaudible] stuart: i tell you, it was uproar. jason chaffetz with us now.

jason, are you surprised to see justin trudeau turn into such an authoritarian? >> no, not really. look, he's got a few things going on. he's on the wrong side of the issue. he's pro-mandate, he's just fine with these quarantines. i think he's ultimately on the wrong side of where i think the people of canada want to be. but it doesn't get any worse, stuart, when you're out there telling a jewish member of the parliament that she stands with people who wave swastikas. there's no evidence of that whatsoever. the prime minister absolutely stepped in it. and the other thing is, stuart, he doesn't meet with the truckers. why not go actually listen to these people and hear them out? he could not have handled this worse, and i think his demise is inevitable. stuart: i don't know about his demise if, but i think some kind of compromise on this vax mandate for truckers, i think that's going to happen at some point. let me move on to hillary

clinton. she is addressing the bombshell durham probe. she says right-wing media is desperately spinning up a fake scandal. all right. i guess that's us, jason. [laughter] are we spinning up a fake scandal? >> yeah, it's a vast right-wing conspiracy theory. [laughter] come on. this is a sitting united states attorney who has filed court papers, and those are legitimate stories. i mean, this whole russia hoax that went on for four plus years was an absolute travesty. they're getting to the bottom of it, they're following the money. she can try to say that, but i tell you what, the national, you know, traditional media out there who was complicit, who was handing out awards to reporters for all this reporting that turned out to be totally false, that day is going to come to a rue at some point where there's going to be a reckoning here. durham is not done. he's a serious prosecutor, and the biden administration better

met him keep -- let him keep going down the path that he's going. let's get to the truth, and the truth is these people did a lot of things to infiltrate the trump campaign, the trump white house that is totally and completely wrong. there should be some people going to jail. stuart: it's very hard to hold them accountable though unless the gop wins back the house in november, otherwise they can bury this thing for a long time. do you think? >> they can. they can drag this out, but the u.s. attorney, he's been able to keep filing, and as long as they keep funding him over there at the department of justice, then he gets to continue to do what he's doing. stuart: better not cut him off. all right, jason. mr. chaffetz, thanks for joining us this morning. see you soon. >> thank you. tiewmpt stuart back to the futures. that's kind of a contradiction, isn't it? dow's down 160. and then there's this. the attorney general with, the great state of texas, ken paxton, wants masks gone in airports and on planes. he'll make his case.

he's on the show later. republicans want democrats to be held accountable for any role hay played in spying on trump. i'm saying good luck with that because i don't think there's going to be much accountability unless the gop wins in november. we'll follow through on that after this. ♪ how will i know? ♪ how will i know if if he really loves me? ♪ i say a prayer with every heartbeat. ♪ i fall in love whenever we meet. ♪ i'm asking you -- everyone remembers the moment they heard, “you have cancer.” how their world stopped... ...and when they found a way to face it. for some,... ...this is where their keytruda story begins.

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leaving because they've been threatened with arrest and having their bank accounts frozen. grady trimble is there. what's the latest right from where you are now, grady? >> reporter: stu, i haven't noticed a smaller number of trucks here, i've seen just the same amount that i saw yesterday with. police just came by a few minutes ago, and they're handing out another flier to protesters and truckers telling them they could be arrested and charged with criminal offenses, their vehicles and property may be seized or removed, their driver's license could be suspended or canceled, the list goes on and on. also develops today is we're seeing crews all around the parliament hill area installing this taller fence in addition to those barricades that have been up for the last several days. kelly -- [no audio] >> there is nothing but love and

solidarity, and it's a beautiful movement, is what this is. the grassroots bottom line is all about the hugs and the free love, and it's one love. >> reporter: so far the prime minister has invoked the emergencies act. he -- parliament is voting on that today. do you think that's a step too far considering what you're doing out here? >> i think that it's a step that he has to do. i believe, is it a step too far? yeah. this is escalation to the ninth degree. right from day one anybody that's been involved, come and talk to us. like, let's talk. something's not right, let's make this right, let's talk. we're canadians. we can talk this new. >> reporter: -- this through. >> reporter: that's all you want, a conversation. >> absolutely. there's been different conversations, i've seen live feeds, and the ones that are coming out, it's no different than the city of ottawa and residents. some of the residents are loving us out there, some aren't.

and the hate that's there is a shame because we have nothing but love. my thoughts are if you've got hate right now and it changes, please don't feel that we're no. we just want you to come. just come and you're welcoming you know? if you had one shot. >>, two shots, jab is, two jabs, just come. we want the choice to be able to say we don't want to put something in our body that we don't know anything about. we want to have that free choice. that's all this is. >> reporter: and kelly told me as well, stu, if they have that dialogue and if really they just ended the mandates, all of this would go away. but instead we're seeing it ratcheted up a notch here, stu. stuart: grady, thanks very much. prime minister trudeau associates good people like that with nazis, i think that's a political nonstarter. the gop is calling for accountability from democrats involved in the spying on president trump. congressman andy biggs, republican from arizona, joins

me now. i said this just a few moments ago that, in my opinion, the only way to hold these people accountable for what they've done is for the house to go to the g work p in november. -- gop in november. if that doesn't happen, i don't think they're going to be held accountable. what say you? >> i think, stuart, that's partly true, but i never forget that this is originating from mr. durham's investigation. and as durham continues to investigate, he has the authority to prosecute these cases as well. and that's why he filed that motion regarding conflict of interest of the attorneys for multiple persons of interest. so i look at it and i say you might get some justice through the judicial process, but we also want more transparency and justice, and that's why i think the republicans are looking to invest this when we get power again, if we get power again in 2023. stuart: how much damage has this scandal already done to

democrats and their hopes for winning in november? >> well, you know, not as much as the economy and inflation, i'm afraid to say. but, i mean, the less we start -- unless we start carrying this, the media's not caring this, so now they're in full spin mode. they're abe, oh, yeah, this is not true and it's just a lot of hyperbole on the part of the right. so it dampens the effect of what really happened here. and if people come to realize what really happened here, in my opinion, the worst presidential scandal in the history of the united states of america. if that comes true, people start realizing it, then i think it will really impact the 20 2022 midterms. stuart: at this moment you still see the republicans doing very well in november of this year. you going to win the house, do you think? >> yeah, i think we win the house. stuart: got it. congressman, thanks for being with us. always a pleasure. see you again soon. here's that bombshell story come back again, three radicals

ousted from the san francisco school board. big story yesterday, we reported it in full. come on in, lauren. what are the -- i'm going to call them the woke propagandists at msnbc saying? lauren:st it's called super-wokeness. here you go. >> the democrats have got to step away from the super wokeness. san francisco really tells what's going on. three school board members were voted out by 70% because they're focusing on things like changing the name of schools. abraham lincoln, george washington on a school. this is not what voters care about. lauren lauren voters care about keeping schools open, and there's this constant anxiety of people and parents. palpable, it's having political consequences, and i think the question is so what now. and we're talking about san francisco which is, you know, the breeding place of wokeness. this is what the mayor said, london breed, she said -- and i think this is a turn-around -- san francisco is a city that believes in the value of big ideas, but those ideas must be

built on the foundation of a government that does the essentials well. stuart: stating the obvious. lauren: yeah. focus on education and then maybe think about the big ideas of crt and everything else that the people are telling you they don't want. stuart: i think the three radicals kicked off the board, i think that starts a whole few process there. because on june the 7th, again in san francisco, chessa boubin, the wildly-left d.a., he face ifs -- they're lauren yeah, larry in philadelphia, the list just keeps going. the fact that happened in san francisco which is the most woke city in the country, i think that's pretty telling. stuart: if it can happen there, it can happen anywhere, as we said yesterday. thanks, lauren. back to the markets. dow's down 167, that's when the market opens. you're looking at futures prices here. we'll take you to the opening

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stuart: all right. plenty of red ink on the left-hand side of your screen. let's bring in that gentleman if at the bottom right-hand corner e of your screen, adam johnson. all right, sir, welcome to the program. what does american ingenuity invest in? >> the people and companies driving the world forward, stuart. it's a wonderful story. it's a joy to get up every morning and try to identify for our investors the companies that are really changing the world and, again, moving us forward. i i know that it's been hard over the past several months. we've all been dealing with so much, stuart. but when you talk about trends like the digitization of physical assets, like what's happening in artificial intelligence to glean more insight into how people live and operate and interact, how money is speeding up and becoming more efficient, how robots are automizing factories, how clean energy is changing the way we move around, stuart, there's a lot more to like right now than

dislike. and all this craziness in the market and the red on the screen, we're going to get through it. stuart: you've got one minute to tell me what you're actually buying right now. >> oh, we've got to look at clean energy for starters. stuart: i want the name of a company, a stock that you -- >> okay. best in breed. charge point. number one, level two chargers, chpt. very exciting and it's down, like everything else. as we build out the network, charge point is going to be one of the leaders. 70% market share in the u.s. look at sonoma, the highest margins as a solar installer. look at joby, they're going to bring what is effectively uber-like transport in drones that can carry people with electric rotors, and actually redding space on rooftops in los angeles and new york city. clean energy's incredibly exciting.

there's so much to like there. look at how payments are changing from affirm which has been crushed way down to sofi, of course, sofi stadium in los angeles where we just saw the super bowl -- stuart: i've got to interrupt you because they're about to open the markets, and that was of a good list of interesting companies to buy at this moment in time. adam johnson, thanks for joining us. we'll have you back soon, okay in the opening bell is ringing, you can hear it, and in 3, 2, 1, we open market. i'm expecting to see plenty of red ink, and that's exactly what we're seeing. we're down 220 points, about two-thirds of 1% from the start here on the dow. and i've got to tell you we've got about 26, 27 of the dow stocks opening down. there's only 30 of them, most of them are down this morning. it's a selloff day. at the opening bell, that is. who knows how we close. the s&p 500 also down two-thirds of 1, and the nasdaq opening with a loss of .8%. so down across the board. big tech, i presume they're down again pretty much across the board.

yes, they are. there's only one winner there, and that's amazon which is up all of $9. the rest are down. i really want to see nvidia. look at 'em go down. 4% lower. they had record sales for the quarter. susan -- susan: yeah. stuart: -- what's the story? susan: so when you're triced to prefer -- priced to perfection, you have to come out with explosive earnings. weak spot here was probably automotive and self-driving because across the board they came out ahead when it comes to gaming chips which is their bread and butter. we know that cloud and those chips, growing about 70%. but automotive was down 14%, and crypto sales are pretty small. they only sold 24 million chips in the holiday three-month period, and it's not their core business. strong guidance for the year, but they are taking that one and a third billion dollar charge for killing that arm deal. all in all, i thought it was fantastic and guiding for a

fantastic 2022. stuart: great company, but if you're priced to perfection, you'd better meet perfection and better. susan: correct. stuart: now then, walmart. i believe they're up this morning, 1 is %, adding a bit to dow. didn't they raise the dividend? susan: by a penny, but it's the $10 billion in stock buybacks, and americans are still spending atwal at wal-mart. traffic was up. they are the largest grocer in america by sales. supply chain and covid costs were higher than expected in the holiday period, so i think if they didn't announce that $10 billion stock buyback, the stock would actually be down morning. there are warnings as well that the first quarter sales will not grow as much because last year, it's tough to compare, they had a stimulus-fueled bounce. americans with those 1200 checks. stuart: you spend $10 billion buying back your own stock, and investors just love it. susan: but walmart if has underperformed this year given that yields are up.

stuart: i believe that president biden is saying that the threat of a russian invasion of ukraine is now very high. i believe that's the case. he's speaking right now. can we listen in just real fast? >> -- they've moved more troops in, number one. number two, we believe they are engaged in a false flag operation to have an excuse to go in. every indication we have is they're preparing to go in and attack ukraine, number one. number two, i've been waiting for a response from putin with my letter that's my response to him. it's come to the moscow embassy city -- [inaudible] i have not read it yet. i cannot comment if on it. >> [inaudible] stuart: okay. >> yes. my sense is you'll have it within the next several days. [inaudible conversations] >> any diplomatic path still availablesome. >> yes, there is. that's why i asked senator --

secretary blinken to go to the united nations and make a statement today. he'll lay out what that path is. i've laid out a path to putin as well. i think sunday. so there is a path, there is a way through this. [inaudible conversations] >> are you going to call putin? >> i'm not going to -- i have no plans to call putin right now. stuart: okay, you heard it. two key points there. the president believes that the threat of a russian invasion of ukraine is now, quote, very high. he also said that putin is now prepared to go in. those were hit words from the -- his words from the president just moments ago, and it's the really hurt the market, susan. we're heading a bit further south. is that, do you think, is that the main item on the calendar today for the stock market? if. susan: it is. but we're getting conflicting reports because also quoted russian intelligence and russian officials who say they have no plans to invade ukraine. we're not down 1% which is the technical selloff right now.

but i think it's interesting to look at gold, gold is up whereas bitcoin is down, so it trades more like a stock. oil prices i found the most interesting because they didn't spike on the back of these reports. stuart: exactly. still at $90. susan: down, actually, in the session. stuart: so these conflicting reports, they are conflicting, but the president right there appearing to stand pretty strong, pretty firm, expecting an invasion -- he says it's very high, and he's expecting putin is prepared to go in. we're now down 224 on the dow industrials. susan: the 10-year yield, if we can check that -- stuart: you're right. it's the safety trade. below 2%. how about that? susan: so -- stuart: well, that means money is going into it, pushing the price up and the yield down just below 2%. susan: four basis points isn't a lot when we're talking about possibly war and invasion in ukraine. stuart: absolutely right. what else have we got? any more stocks -- susan susan i

really wanted to talk about door carb because it's the sharing economy type of stock. if you want to look at big games today, that's outperformed, of course, in a down market right now. we have record order numbers despite the fact that restaurants are reopening. stuart: that's -- i've never gotten straight with doordash. [laughter] 16% higher. anything else? susan: i want to talk about cisco because that's stuff that you offing know a lot about -- you know a lot about and palin tier. again, in this type of environment, tell me what you think of these outsized reactions to earnings, because i haven't seen this type of explosiveness in an earnings season for some time. cisco is up because they made more money, and they're buying $5 billion. quickly run through palin tier because this is a meme stock, down 13%. they made less money, less sales, and -- but they did tripping their commercial customers last year.

stuart: you can get whip-sawed in in this market. susan: that kind of tells me there's a lot of toppiness as well. we're in an expensive trading range. if you beat, you get rewarded. if you miss, you get punished. stuart: that's true. trip adviser. susan: another one, again, look at this performance. you're down 5% and they missed on sales and profit. it's interesting bifurcation that we're seeing in travel because some names have actually done well like marriott yesterday. stuart: okay. what we've got is a downside move pretty much across the board. susan, thanks very much, indeed. good coverage of the opening bell. we're now down 116 on the nasdaq, down 254 on the dow industrials. coming up, 3 118 million people visited florida last year, tourists. that's more than one-third of the country, assuming they were all americans. maybe people wanted a taste of freedom. i certainly do. president biden's approval numbers, they're sinking.

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"i will bless and comfort the jewish people." ♪ ♪ stuart: ukraine says russian-backed forces fired shells into a ukrainian village, hitting a kindergarten. two teachers reportedly injured. trey yingst is in kyiv, ukraine's capital. what's the latest from there, trey? >> reporter: stuart, good morning. concerning escalation overnight in eastern ukraine as 29 ceasefire violations were reported. i spoke with a joint forces ukrainian officer who said his soldiers are now responding, and the exchange of fire continues at this hour. we are also getting some images

from that kindergarten in the eastern part of the country that took fire from an artillery unit this morning. the event was confirmed by ukraine's foreign minister who said heavy weapons did target this village. shellings also reported in a number of other locations. analysts fear this escalation could act as a pretext for russia to launch a larger invasion into ukraine. satellite images show additional russian troops arriving at the ukrainian border. they also detail a platoon bridge that's being constructed. the u.s. says at least 7,000 new russian soldiers have arrived in recent days. the kremlin spokesman today said without evidence that ukraine's army has taken provocative action that has intensified in the last day. remember, there is an ongoing information war right now, so many of the statements we are getting from russia are meant to try to confuse people about the situation on the ground. stuart? stuart: seems like that's a successful maneuver. trey yingst in kyiv, thanks very much, indeed.

congressman brian mast joins us now. president biden says the threat of invasion's very high. he says putin is prepared to go in, and i believe that putin has just said that he wants the u.s. to withdraw all forces from eastern europe. now, that's a real standoff. it does sound like an invasion is imminent. what say you? >> i think you look at this as being so dicey on a couple of different fronts. you know, we just came off the heels of the super bowl. think of putin like being on the 3-yard line and having the ball, and he has the ability to see how the other team lines up and then call a timeout. and he has unlimited timeouts. he can call them as many time as he wants to see how the u.s. and nato lines up if he fires some shells into a village. biden and nato have to go out there and assess is there a strategic objective to a village that they're firing shells into, or is he just testing biden and nato to determine whether they're considering that a major or a minor incursion, that

terminology that biden referenced a few weeks back. what about the cyber attacks? are they considering those major or minor incursions, and putin gets to see how is the defense lining up on the ball in the wake of these attacks. and we're getting to see right now how does biden respond to this. stuart: but so far his response seems to be relatively firm. he's moved the troops into position. he's put weapons into kyiv. he's called out the russians as liars, essentially. and he saysed today, moments ago he said i'm not calling putin. it's a relatively firm response, isn't it? >> no, i think that's the right move to make. we don't want to see us being reactionary to what putin demands of the united states of america and nato. it needs to be the other way around. obviously, there's constant misinformation that's coming out there, putin making statements like when they finish their military operation, they're going to pull back from crimea. i think we all know that's highly unlikely to be the circumstance. they made reports they're

pulling back from the ukrainian border where we see them massed, that's actually the opposite of what's going on. so there is this misinformation campaign that we should be responding to very firmly against to say, listen, you're actually moving closer to nato when you're saying you don't want nato to be closer to you. you're creating this situation. and we already know that there are nato countries on russia's border, rat hat via, lithuania, estonia, and now he's moving closer, if he goes into ukraine, he's getting closer to nato again. stuart: i believe you're a farmer -- former army ranger, could they give putin a bloody nose, the ukraine januaries? have they got the weapons for it? >> i'm a former army bomb technician, served proud by with our 75th ranger regiment, amazing fighters. but i look at this situation, yeah, they could cause some russian are casualties. my honest assessment of this,

this would be like the united states of america going you have against saddam hussein during the gulf war. being able to basically roll through there with very little casualtieses, maybe even potentially more friendly casualties as a result of a military incursion than what you might actually see is inflicted on them by the ukrainians. that's the difference between these two militaries and the generations of weapons that they have. stuart: congressman brian mast, thanks for being on the program. we appreciate it. we'll see you again soon, i hope. thanks very much. >> thank you. stuart: left-hand side of your screen, okay, for a moment you can see that the overall market is move manying further south. the dow is down 300 points, nasdaq down 150. this is russia-ukraine situation. oil, the price is $92.34, holding just above the $90 per barrel level. not moving very much this morning despite the ukraine-russia situation.

that $92 price, lauren, that strikes me as being pretty good news for american oil companies. lauren: makes it profitable for them to drill again, but they're not doing that. and i don't think they're going to do that -- stuart: new drilling, right? lauren: new drilling. i've had several conversations in the past two weeks with producers and executives in north dakota, a top producing state. they said why would we put new money into new wells? it's too risky, because this white house taxes them on every single front. so north dakota drilling about, i think 1.1 million barrels a day, so 400,000 less than pre-pandemic. they're just chugging along, and not even going to try to make up that 400,000. stuart: how about that. lauren, thanks very much, indeed. change the subject completely. if you ever wanted to live inside disneyland or disney world, your dream could become a reality. we're going to tell you what disney's planning across the country. kids back, masks coming off, but schools are scrambling to find enough teachers. i believe there's a shortfall of

teachers of 380,000. a full report on that after this. ♪ muck where do you go. ♪ i want to know, my lovely muck ♪ we gotta tell people that liberty mutual customizes car insurance so you only pay finish finish woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ 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.

♪ stuart: failing our children, yes, indeed. our kids have taken the brunt of this pandemic. now we find 389,000 teachers have left the work force. that's having quite an impact. lydia hu has the story. what do you have for us, lydia? >> reporter: hi there, stuart. that's why more than 7,000 schools had to either close or go virtual early year, there simply are not enough teachers. now some school districts are using their federal funding to offer more pay or in some cases turning to the national guard for help. in millville, new jersey, which is where we are, it's a serious issue. the middle school and the high school is only operate or -- operating for half a day for the entire month of february because they don't have enough teachers. but now new jersey is doing away with mask mandates along with several, about a half a dozen other states across the country, and the superintendent here says very clearly that's a great move

for students, but it's one that could hurt teacher recruitment. 389,000 teachers have left the profession since the start of the pandemic. the superintendent here says eliminating the mask mandates, he thinks, will cut down on his applicant pool by about a third. now, to accommodate concerns, he's thinking about introducing a test to stay policy. so if there is an exposure in the classroom, citizen teachers can test to show they're negative so they can continue to stay in the classroom. but this really illustrates the balancing act that comes with keeping the classrooms open and the kids in schools. stuart. stuart: florida doesn't seem to have much of a problem, does it? all right, lydia, thanks very much, indeed. see you later. check the big board, please. we're down 400 points now. that's the russia-ukraine situation. of tensions rising. i know that's a cliche, but they areaing.si- - rin tay t. wbelo 2%%evs trey tyieyieslo

'satec'soneyoneyon lki l l tinto tin0-yey.ur thth p pce pupcece,ndhahat ke sieieie dn. 17 1t thee mt. toto--8 --o $191919 anunlose cse at r in gd tolds tol momog.mog. or bitcoinit,y myhyhnh itit wtock well, $92arrel,rerere changechhere.here gas,,e'e' abo t w4.64, n64otuc. but the average price for a gallon of regular gas up one more credibility. as i keep saying, up one cent a day recently. $3.52 is your national average. in california -- [laughter] it's $4.73 for a gallon of regular on average in the formerly golden state. coming up, retired general jack keane, morgan ortegus, the attorney general of texas, ken paxton, larry elder. much more coming your way. the 10:00 hour of "varney" is next.

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♪♪ get down on it

♪♪ get down on it ♪♪ in the one good morning, everyone. it is 10:00 eastern. straight to the money. we have a selloff in progress. dow jones industrial average down 450 points. nasdaq down 200. down one and one 12:45%. down one and a third% on the s&p, and one.4% on the nasdaq. lots and lots of ridding. the 10 year treasury moving further below 2%. this is the flight of many into the 10 year treasury. yield comes down 197. the price of oil not doing much despite the tension in russia and ukraine, $91 a barrel. the latest read on mortgage rates. i've got to be leave the number has gone up. lauren: closer to 4%.

it is 3.92% up from last week, 3.7. if you are curious last year it was under 3% at 2.8% so everything costs more as rates go up. stuart: here comes 4% on the 30 year fixed. you want to comment on the market? >> why you didn't bring a bobble head. we need to review the tape on that. stuart: now this. i was expecting something. there you go. a little slow on the animation. here we go. i am sorry. i don't get it. the president believes we can

cut inflation by spending more money. it goes against everything i have seen for the last half-century. in ohio the president will make a pitch for build back better and all the spending that implies. yesterday he tweeted my build back better agenda includes the largest investment combat climate change in us history. it will lower energy costs for americans. it will not. he is pandering to the far left and their socialist dreams with build back better and the climate crowd with the green new deal, trying to placate the left while offering voters economic nonsense. democrats want a change of policy or top staffers because they are running out of time to turn things around. the pro biden nbc news, quote, democrats to biden, time to make changes at the white house. moderate democrat stephanie

murphy says a sign of a good leader is identify policies and personnel choices that have not resulted in success and make course corrections. visa florida democrat. receipt is in danger. the president goes back to the same old same old, spend more trillions to cut inflation. doesn't make sense to me. second our of varney getting started. ♪♪ stuart: brian is here for the hour. the president says cut inflation by spending trillions more. brian: i don't get it. americans don't get it. he goes on like a broken record how spending will increase the supply side of this economy. it is not. the more he says it the lower his poll rating goes to new lows. stuart: i will get to that in a

second. david bronson is sitting here. i'm breaking the format. get the camera on him. what is your take on inflation and what the president is doing? dave: i'm against what he is doing but for different reasons. it destroys growth. transfer payments that are wasteful and inflation problems it will not help. he's wrong about that. here's what i want to point out. excessive government spending sucks away future growth. a put japan in a 40-year deflationary cycle. i have problems with what he wants to do. our inflationary problems when you see auto parts at 30% inflation and other things, 7%, has to be different causes, not

just the covid relief bill number 4. not just fed policy either. the fed can raise rates to 4% and that won't reopen the ports of our beach. we don't have enough goods and services to be there with the demand side these people underestimated because they shutdown the economy of our shocked people want to go back to living their lives. stuart: i will be back with those dividend stocks. the quinnipiac poll puts his approval rating at 35%. another poll shows 39% giving them an excellent or good rating on handling of the pandemic. is that white is going on? poor performance on the pandemic? >> he is so far behind, there is no leadership. members of his own party are ahead of him in terms of helping people get back to life.

the president talks about the same things all the time. he has to get in front of the messaging and have the vision how to get out of this. americans say you are not the leader we need. stuart: the left won't let him abandon all this. >> he has no guts on this. gets matter when you are a leader. stuart: i've got an update from lauren on the cdc and what they will do with their mask guidance. is it possible they drop masking requirements? lauren: that would be too optimistic. i think they will loosen. in the last two weeks, 11 states and washington dc got ahead of the s&p. that is where we stand. 11 states. in schools more than half require masks. 40% do not looking at school districts.

any update to the guidance may be in the state of the union address and that might be too late for where the american public is invulnerable district. stuart: he changes course and turns positive on covid, declares victory and takes the credit. that my idea for march 1st. we are so far south of the dow off 400 points. if ever we needed a high dividend paying stocks to take us through this anxiety period what have you got? >> we need high growing dividend stocks. stuart: every week. >> after our fifth year together let me ask you who has more ability to pass on inflation than walmart? >> nobody. >> prices are not going up. their ability to pass that on

his textbook definition of pricing power. walmart had gained buster numbers. walmart is up 2%, cisco is up 3%. both these companies for years, walmart has grown the dividend every year. you know what that means? every year of my life. he's doing the math how much older he is. stuart: i'm a generation older than you. dave: they have the ability to do this because of free cash flow and cisco is in the same boat, every recurring revenue business, they are great growers. stuart: what is the dividend walmart pays? dave: around 2%, higher than the s&p. if you look at walmart's dividend, 15 years ago, 10%

because they've grown the dividend so much and cisco is 3%, great growth for a decade. stuart: you would only solo stocks it looks like the dividend will go down or disappear. dave: or if you are treating. we are active measures. they are cutting those dividends. stuart: valuable information. good to see you in new york. stuart: back to lauren who has the movers moving on wall street. hasbro up 6%. lauren: and activist investor nominating 5 independent candidates and suggesting they spin off businesses like dungeons & dragons. they see shares hitting 103 with a 6% gain doubling in the next 3 years with their turnaround plan. look at shopify, down 45%.

they have a turnaround plan, spending a lot of money, investors don't seem to believe in it. they provide software for small businesses. and finally look at this. that is a cloud company, they provide cloud content, it is just getting crushed today down 30%. so many brokers cutting their price targets on the stock. stuart: first time in a long time i heard a cloud company head south big time. you say the word cloud, thank you very much. we all spent big last year and racked up a ton of credit card debt. you are still there. how much are we talking about? lauren: debt increased by $52 billion bringing credit card balance for last year. why is that important? the biggest increase in the federal reserve bank, goes back 22 years. pre-pandemic we held a lot of

debt. it got better during the pandemic when we were getting government checks. things cost more and we are taking out the plastic to pay for it. stuart: we have an economics professor. brian: you got is via christmas shopper. everybody bought for the christmas holidays and prices were up, you put it on your credit card. not surprising we see 7% inflation with credit card balances going up. it is scary to see that. i don't think it will get better if prices rise. stuart: consumers are flush with cash. 's brian: your denying the inflation problem. msnbc admits democrats have super woke problem. don't know what this means. msnbc says democrats have awoke

problem because of those three radicals kickoff a school board in san francisco. >> to give the republicans the ability to point to democrats as a super woke culture focused on the wrong things that don't matter to voters you're going to lose. you need to step away from that. stuart: that is ms nbc. you are going to lose. with that. stuart: we just heard from the president. he says invasion could happen soon. we go back to kyiv for a live report. ♪♪

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stuart: let's sum up the ukraine situation. it is having impact on wall street. president biden thinks the threat of invasion is pretty high. he says putin is prepared to go in. steve harrigan is with us. he is in kyiv, ukraine. what is the latest? >> reporter: more news breaking, the russians have responded to us proposals to de-escalate the crisis. the russian response was very negative. the russians saying they may need to use the terry technical means. and they expelled the deputy us ambassador from russia. there was a back-and-forth between russia and the west. russia saying it has withdrawn its troops from the border area around ukraine, western leaders

and nato officials say the opposite is happening. russia added 7000 more personal to the ukrainian border area. >> we have seen no sign of withdrawal or escalation so far. on the contrary russia's build up prepares to continue. >> reporter: there are real concerns about a flash point in the east where they have been fighting with russian backed separatists. the defense secretary warns that could be where russia might launch an invasion from. >> we said the russians might do this to justify a military conflict. we will be watching this closely. >> reporter: the us has warned over the past several weeks

low-level fighting in the east might be the spot where russia tries to justify a large-scale invasion in ukraine. stuart: let's bring in four star general jack keane who joined me now. sounds like an invasion is imminent. what say you? >> that is what we were saying last weekend and last week as well. we had this interlude because as a result of the united states successful information warfare campaign where we have been using classified information to expose russia's covert and overt operations that put it in on the defense of after exposing the russia was about to work last weekend, putin opened a dramatic path

and de-escalating videos to support it for movement of forces in crimea to the bases in the area. there is no reduction of forces. quite the contrary, the united states says 7000 troops attack helicopters, medical facilities and as steve has pointed out a bridge between crimea and eastern ukraine. we are in a diplomatic path, russia is putting everything together to conduct some kind of invasion and partial occupation for sure. stuart: is president biden doing the right thing? the right strategy? >> i thought he could have done more.

in terms of increasing advisors including lethal aid but that is all history. i thought he could have begun in sanctions based on provocation, they want to force the economy to collapse in the government to collapse. i think president biden's rhetoric has been strong. he managed to unite despite some disagreements with nato companies. we told vladimir putin under no circumstances will we tolerate them targeting americans in ukraine. i believe this conference of information warfare campaign

exposing putin's covert and overdone operations has put them on the defensive and i put them on credit for that. it began in january when they wanted to topple at have a clue against the linsky. we exposed a number of false flag operations and also putin's real intent, his forces are moving towards the border and are prepared to attack. that has been very well done and i have never seen that kind of exposure before. stuart: thanks for joining us. it is always appreciated. i will call this a sidebar to the russia ukraine situation was vice president harris is meeting with ukraine's president at the munich security conference.

this is a high-stakes trip but political in nature. >> reporter: he is in contact and in the game on a hot issue. she believed at the security conference to push unity among european allies to resonate russian invasion. the path to de-escalation is what we want and no word on contingency plans. stuart: the market continues to head south, the dow is down 470 points. it is a selloff. why is the market selling off because of russia ukraine? >> talking $150 a barrel? what kind of economic impact will that have? stuart: send troops across the

border, we will impose sanctions and cut off the flow of energy from russia to europe. brian: it is on the table. that is russia's leverage, throwing energy markets. lauren: if russia is going to invaded has to be before the weather gets warmer and they lose their leverage. stuart: they would lose revenue if they were no longer sending energy. brian: $150 a barrel is a problem especially in europe. stuart: the dow is down 470 points. the governor of florida taking a victory lap as domestic tourism hit a record high in the sunshine state. americans are done with restricted, they want freedom and florida is attractive. the national average for a gallon of gas $3.52.

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stuart: take a look at the market. the dow is down 500 points. the nasdaq is down 230 points. before we get to that. lauren is looking at the movers. i don't see gold moving. neil: it is up 2%. safety plan is up 10%. it's not the only goal stock moving higher. the ever-changing rush and ukrainian headlines. stuart: gold has gone to $1,900 an ounce. don't know how long since we have seen that. yeti, i have a couple. lauren: stock is down 2%. the latest company to one of supply-chain headwinds taking a bite out of full-year profits. strong earnings but what they said on the future and supply-chain issues are hurting. stuart: what is this about

doordash, 369 people order from them. neil: a record number. stuart: there is not that many people in america. go ahead. lauren: all those people ordering more. bigger orders, more frequent orders, a lot of people go out and about, change their behavior. stuart: the bottom right-hand corner of the screen, one dollar and $0.69. here is what the president said an hour ago. the threat of invasion of ukraine is, quote, very high. vladimir putin is prepared to go in. edward lawrence joins us. what would russia gain economically if it did invade? >> reporter: there are a lot of ages but billions of dollars.

russia has taken steps to insulate itself from possible sanctions that could come because of an invasion. president biden says he plans to call president putin but invasion could be imminent. >> of that move troops out. they move more troops in. number 2, we have reason to believe they are engaged in a false flag operation as an excuse to go in. every indication we have, they are prepared to go into ukraine and attack ukraine. >> reporter: russia's finance minister said they would rely on budget surpluses, reserves of gold and reserves of foreign exchange currency and rely on low debt the country has. budget surpluses because the price of oil is up $91 a

barrel. russia is an exporter of oil. senator marco rubio says should he invade, president biden's policies put us in the situation and will adversely affect energy prices in the us. >> this will have a dramatic impact on global energy prices, that is a baseline cost that adds to the cost of everything else when we have hyperinflation. >> reporter: russian companies pay ukraine $2 billion year to transport liquid natural gas is a company. center rubio says putin is counting on their reliance to natural gas to that would not go away and russian president vladimir putin could save that $2 billion. anthony blinken on his way to the united nations will give a speech on president biden says that speech is going to lay out

specific pathway to get out of this and we will see. stuart: thanks, check on oil and gas. the gentleman on the right is the ceo of canary, one of the largest oilfield service companies in america. what happens to the price of oil if russia invades ukraine? >> the price goes up, up and away. this is a big natural gas story. we will look for that to go up as well. stuart: would go to 120? $125 a barrel possible? >> it will push oil higher.

in the summer driving season. and the russia ukrainian system because of economic factors and inflationary environment. $3.52. the president has this idea, federal gas tax holiday. you don't think that is a good idea? >> with a have a holiday, let's not kid ourselves. they canceled mine pipelines, restricted fracking on federal lands to drill in the gulf of mexico, leading to higher

gasoline prices. these things are farcical to me. biden's green new deal agenda is part of the problem pushing the supply down. the price goes up and these are insincere, and insincere gesture of biden trying to solve the problem in his policies caused the problem. stuart: i wonder how long voters will pay through the nose for biden's green dreams. change the subject. two women in broad daylight within one hour of each other. hillary clinton breaks her

silence calling a fake scandal. bret baer will take that on. ♪♪ secret agent man ♪♪ secret agent man ♪♪ giving you a number ♪♪ and taking away your name ♪♪ ♪ cool ♪ ♪ breeze from the air ♪ ♪ wind ♪ ♪ blows through my hair ♪ ♪ don't care ♪ ♪ if people see my dancing in my car ♪ ♪ and if it shines or rains oh ♪ ♪ i can't complain ♪

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stuart: hillary clinton accused of using her campaign to use the private contractors is by on donald trump. hillary is in new york city. is she giving a political speech? >> reporter: we expected to hear from her earlier or later today but there's a lot to handle as they go through the nominating convention but all eyes are on the podium later this afternoon as hillary clinton talks about rumors about her political path and her future.

that will take center stage as we wait for what happens next. the former presidential candidate expected to speak around 3:00 to rally her party ahead of the midterm elections and as we wait to hear truth to her rumors about a possible presidential running 2024 many are responding to a tweet addressing the reporting on the court filing by john durham alleging her presidential campaign in 2016 paid for computer research to donald trump to russia. durham's filing included allegations clinton campaign cyber security lawyer robert sussman shared internet data information from trump tower and the white house by take executive rodney joffey to establish interference and narrative. in her response and second part of the tweet we heard later she said this, quote, for those

interested in reality, here's a good deep and king of their latest nonsense, attaching a link to a vanity fair article titled you will never believe it but hillary clinton did not in fact spy on trump's white house. donald trump's response telling fox news the accusations are bigger than watergate and called on the justice department to declassify and release all documents say they have the declassification order and should do so in light of what just happened and has been revealed. we don't know what she was going to say when she takes to the stage later today. stuart: hillary clinton says donald trump at fox news are, quote, desperately spinning up a fake scandal. we need a response. who better than bret baer? what is your response to spinning up a fake scandal? >> reporter: we are reporting

what is in the filing by john durham. what is in there is troubling to a lot of people. they say this is nothing here but there is something there. the actual charge, lying to the fbi and that on the big picture is not a major charge from michael sussman and there is a way out of that but what the filing shows is in durham's eyes the effort to create this narrative and to collect and bring to the fbi, what we saw for years. the people most agitated are the ones who said the dossier was all real and the walls are closing in on donald trump. we saw from the mueller investigation that didn't happen.

it is not the we are saying this is the most explosive thing in the world but it is a step that we don't know where durham is going. stuart: would you mind if i change the subject entirely? >> i don't mind. stuart: this saturday you will be hosting an all-star panel benefiting children's national hospital. are we joining you? tickets are sold out but this thing, silent auction people are prepared to pay more to have dinner with you than with me. >> reporter: it will come down to the wire. there is a wonderful dinner with you in naples, florida. the bids are already there. all-starpanel.com. some amazing stuff that goes to children's national, the hospital that saved my son's

life and is amazing pediatric research. we are excited that you are part of it. stuart: as long as i bring some money. i've got to get back to the serious subjects, ukraine russia. the president says the threat of invasion is very high. vladimir putin is prepared to go in now and the russians said we will rely on military and technical means and expelling one us official from moscow. it looks like a ratcheting up of tension. >> add that to the intelligence that said he added 7000 troops along the border, the russians setting up field hospitals along the border and bringing supplies that expire so it is a matter of days. secretary blinken confronting the russians in a matter of moments. we were at a tenth time, a

tinderbox and the question is what it means for the rest of the world or us, cybersecurity is a big concern and it is dangerous. stuart: it is hurting our money at the moment. a big selloff on the dow. i will see you saturday of that forward to it. florida hit a record number of out-of-state visitors. i believe it is a very big number. lauren: 118 million, more than before the pandemic. people want the freedom, there's a lot of talk, criticism of governor ron desantis that his policies are like the wild west, that you will go to florida and get covid. everybody got covid. >> we are going this may. there is a certain theme park

the kids want to see but we are dying to get out in floor to where you can do what you want. like aoc, she needed a vacation and went to florida. stuart: i bet you're happy you don't have to wear a mask. >> they listened that further. i cannot wait to have a vacation and not think about covering my face. neil: is very expensive. rent prices, miami is the hottest housing market in the nation. stuart: he has to worry about getting kids into disney. lauren: you can buy your house or get your kids into disney. about the same. >> trying to have a moment. of the one disney has pricing power, large numbers of people, record high prices.

they have got the pricing power. >> it is disney world. stuart: this is for you. new york city's mayor wants ceos to end their work from home policy, time to come back, make the city livable. the american bar association wants to add woke training at law schools. you don't go through with it you can't become a lawyer. bill jacobson takes it on next. ♪♪ make it easy ♪♪ ♪♪ make it easy ♪♪ need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ your record label is taking off.

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stuart: get this. the american bar association wants to implement new woke rules for law students to graduate. here is cornell law school professor bill jacobson. am i right in saying you cannot under this rule become a lawyer unless you go through woke training? >> absolutely correct. the american bar association

past a new rule that requires your first year of law school and the second time that students study racism, bias and cross-cultural competency. this is truly unique. in addition to the normal subjects, contracts, civil procedure we think of as the building blocks of legal education you study systemic racism. stuart: if you have to study systemic racism do you have to pass some kind of test that you understand systemic racism and incorporate it into your law practice? >> everybody knows that is what will happen. the rule doesn't require you adhere to it but nobody wants a bad grade. people understand the american bar association nationally has mandated this that it is sending a message, an ideological message that is being sent and that's the problem.

it narrows the scope of acceptable study. nothing prevents students from studying this but it is mandated. stuart: i know you object to it, spell out your objections. >> this elevates an ideological viewpoint that our legal system is systemically racist to a mandated course of study and this is not the role of the american bar association. they are using their power to force their views. the american bar association represents 10% to 15% but they have a near monopoly on accrediting law school and abusing their power. stuart: can you keep your job if you oppose this? >> nothing will force me to teach it. nothing requires me to teach it but i'm required to impose it.

nothing has prevented law schools from imposing these requirements but most law schools have not done that. you have a captive organization that represents the liberal or leftist wing of the american legal community forcing this on law schools that did not want to do it and states need to get the american bar association out of their monopoly on accrediting law schools. stuart: thanks for enlightening us, important information. we like to hear it. see you again soon. we have brian brenberg who is a professor. brian: it looks like what is happening in high schools and elementary schools where people are having to rise up in a way they never have before. hats off to that professor for doing this. in that world, in this fight if he makes his voice known it is not going to be costless.

there will be a shakeup in the legal world if this becomes a real fight. stuart: it will -- brian: it is this mandating what people can choose, if somebody tries to force it down your throat. stuart: thanks for being with us. still ahead. attorney general of the great state of texas, ken paxton, morgan ortagus, larry elder, all coming your way. justin trudeau has gone to war with truckers. in my opinion he is losing the debate. that is "my take" and it is next. ♪♪ ♪♪

♪ ♪ 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... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq >> this russia hoax that went on for four years was a travesty. let's get to the truth. the truth is these people did a lot of things to infiltrate the trump white house. should be some people going to jail. >> don't want to see us being reactionary to what vladimir putin demands, it needs to be the other way around. >> government spending sucks away future growth. we don't have enough goods and services to be there with the

demand side. they underestimated because they shutdown the economy so long. they are shocked that people want to go back to living their lives. >> there is no leadership from this president. he's got to have the vision of how to get out of this and has no guts on this. stuart: strong stuff. it is 11:00 east coast time. let's bring you back to speed. it is selling off as president biden warns russia could invade ukraine in the next 7 days, vladimir putin is prepared to go in. the threat of invasion is very high. big tech on the downside, significant losses, microsoft at $2.94. look at meta platforms holding at $2.14. the financials are losing big time as well. even though this is why financials are going down.

treasury interest rates going down to one.96%. when the rate went up financials it will. when it comes down to one.96% financials don't do well. the bond is a flight to safety. people worried about nervousness on the stock market so they go to the 10 year treasury. that pushes the yield up and the yield down 196. joe durant is in charge of personal finance at goldman sachs. obvious question on a day like this. obvious question, what happens to the markets if russia does invade ukraine? joe:we've seen it happen before. you typically have a quick correction down and again it depends what happens next. you can never be a complete objective viewer but typically

there is a quick reaction and it calms down. it happened with iraq when iraq invaded kuwait. i don't think the us will put sanctions or get into a heated actual interaction with russia so reaction will be swift, relatively muted and we will get back to what really matters which is how is the economy growing? stuart: i disagree with that. my point of view, if russia does invade ukraine there will be sanctions imposed on russia. we are not going to buy their gas, cut up nordstream 2 and gas will stay up as long as the crisis goes on. it won't come down quickly. joe:prices go up quickly and

come down quickly. quite a lot of inflation. we expect 5% for the year. 6% including food and energy. we have high prices. the market anticipates movement. we've seen oil prices go up. are they going to go to 120? i don't think it's likely. we are in good shape. that doesn't mean we won't get jitters. it might be worse. the reality, what really matters is what is happening here with inflation and interest rates. that will drive earnings growth. stuart: do you see stock prices, the s&p 500, do you think the s&p 500 will be higher it the end of the year than it is now? >> depends.

60% likelihood with our investment group is 13% higher, 6% year over year. 13% from here, 60% likelihood. 15% to 20% likelihood it went down 5 to 7 from here but the highest likelihood growing earnings 13% to 14% this year. interest rates around 2%. stuart: we hear you. gerri: low volatility. we won higher by the end of the year. we will check it out. see you again soon. now this. justin trudeau have gone to war with the truckers. he's losing the debate and losing political support. uproar in canada's parliament. he accused the truckers of racism, violence and

misinformation. questioned by a jewish member of parliament accused the opposition party of, quote, standing with people who waved swastikas. one replied i've never seen such shameful and dishonorable remarks, accusing your opponent of consorting with nazis is a sign of desperation. he's not finished politically but is under sharp attack as he needs maximum support for his war on the rights of every day canadians. before his statement about swastikas have of canada's voters think he's not up to the job. only a handful, 60% approve of his handling of the trucker protest. some truckers are bending to the pressure and leaving the protests, they can't afford to have bank accounts frozen and insurance canceled. trudeau may get a win on the ground but painted his own

government with the authoritarian brush. democrat authoritarians are firing people for being unvaccinated. that's bad politics. we get to vote in less than 9 months. charles hurt, is justin trudeau in political trouble? >> without a doubt. we've seen this in this country where you have democrats reaching with these claims because their opponents are racist because they don't agree with them but that rhetoric does damage. he may get a short-term victory but the long-term damage to the body politic is going to be lasting. it undermines the credibility of politicians not just democrats or justin trudeau. it undermines the credibility of all politicians because it

makes people look at our government and our leaders and they see this nonsensical hateful rhetoric and throw up their hands and have no respect for it. stuart: as you know, hillary clinton is in new york today. she has broken her silence on the durham report, she calls it a fake scandal. a lot of people calling for accountability. is she going to get away with everything? will she be held accountable? >> i don't know. i'm afraid she might do that because the clintons are very good at doing that. i was so interested in her choice of words to call it a fake scandal, a phrase she stole from donald trump who she thinks is evil. i find it amusing when you see one politician steal something from their enemy but this is the biggest political scandal i

have ever seen in my life i'm covering politics. it features everything you can imagine that you would get laughed out of a movie house for trying to pitch as a jason bourne movie with government overreach, the press ignoring all of it, the cia and intelligence agencies working in concert with a political campaign to go after a political opponent. it is terrifying and much like the truckers and trudeau the short-term damage, the graver thing is the long-term damage to all these institutions. jake sullivan 5 years ago was working on behalf of the kremlin and here he is working on behalf of the united states

negotiating with the kremlin over ukraine. stuart: that is a good way to end. it is insane. we appreciate it. back to the markets. selling off with less than two hours, down 418 on the dow, down 224 on the nasdaq. there are stocks moving. most of them are lower. auto nation. neil: used car would be peaked if you're in the market for the car but not a retailer. those comments from the ceo are overshadowing earnings and revenue. their revenue was up 55% on the year but it might peak. stuart: how about manufacturing company like 3 am? lauren: they are underweight, there's more risk than reward. the risk situation, they see

liabilities to the clients are counting compounds, $20 billion to $40 billion. stuart: one of my old favorites, beyond meet. lauren: tried to make plans yet? you never will. goldman sachs cut the price target by 21%. they think it is going to $47. too much money on production and expansion to a public that might not want their products. stuart: i will digress. anthony blinken is before the united nations in new york saying this conflict, russia ukraine threatens you in principles. if you get headlines from that, could affect the market. the mayor of new york city is baking ceos to end their work from home policies.

getting rid of those draconian mandates might help. a video, a woman attacked in broad daylight in los angeles. the same man attacked another woman 15 minutes later. president biden believes putin will go forward with the invasion ukraine. morgan ortagus takes that on next. 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.

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>> every indication we have is they are prepared to go into ukraine and that ukraine. my guess is in the next several days. stuart: the white house says there is indeed a window where russia could attract ukraine at

any time. what is the reaction in ukraine to the statements? >> reporter: good morning. everyone is watching closely us secretary of state anthony blinken who is speaking now. concerning escalation in eastern ukraine as 29 cease-fire violations were reported. we spoke to a ukrainian military officer who indicated his forces responded to the attack and there's back and forth ongoing. we don't know how heavy it is. you see a kindergarten that was hitting ukraine by separatist forces, it was sent confirmed by ukraine's foreign minister who says heavy weapons, showings were reported in other locations. this is an escalation that can act as a pretext to launch a larger invasion into ukraine. that white images show

additional russian troops at the ukrainian border detailing a platoon trench being constructed miles from ukraine. 7000 russian soldiers arrived in recent days was the common spokesman said without evidence that ukraine's army has taken provocative actions that only intensified in the last day. there's this parallel information war ongoing. many of these statements are meant to confuse troops as they prepare for a possible invasion. stuart: secretary blinken is speaking at the united nations. he has said, quote, this is a moment of peril for the lives and safety of millions of people. russia has 100,000 troops around ukraine. morgan ortagus joined me now. biden is speaking saying i would like to prevent a war, not start one but the firing of

shots in anger has started inside ukraine. are we about to see an invasion? >> reporter: all fines point that way. if it happens it is another failure for this administration. six months ago we were hearing about the staff having to burn documents and exits and fully our embassy in afghanistan. six months later the same reports from our embassy in kyiv. we may not get back into that embassy for the rest of my lifetime. when you look at the pattern, we handed in the trump administration historic piece in the middle east to the biden administration through the abraham accordance. two month later, hamas attacking israel and the seller

and took over kabul. a year later into this administration the democrats who were going to be tough on russia russia russia, the first ground invasion in europe, the first ground war since the 1930s. an epic failure for people who claim they are doing nothing but diplomacy. stuart: the italian foreign minister, the latest in a stream of leaders meeting with putin in moscow. all their leaders have been there. isn't this what they want. that is what he wants. >> reporter: he wants to remain on stage, the partnership he and xi jinping have created, the two of them see this alliance form between russia and china. the junior partner, wasn't that

way historically. he wants relevance on the world stage and wants to claim as much territory as he can. the long-term prospect is great. their economy is not as strong as it used to be. the texas economy is bigger than russia's. they have a demographic problem, they are not having enough babies, people moving to the major cities. the long-term trends for russia aren't great. that's why vladimir putin is trying to reconstitute as much of the soviet union as he can. stuart: you can always say we are suffering because of the aftermath of afghanistan will got a slow start when we realized there was a threat of invasion but what about the performance of the president now? he seems to be doing the right thing. would you agree with that? >> what the allies should have

been done a long time ago. if russia does invade, the west, nato, we wag our finger at the russians and said we will cut you off from the dollar and many other sanction threats. we need to follow through with that. if russia does invade in germany and the french and others don't implement the things biden threatened it could be worse. stuart: if they don't go through with what we threatened it is all over. morgan ortagus, expert knowledge, what you got. see you soon. we still have the dow down 400 points and the selloff on wall street. that is governor youngkin, school mask mandates will be illegal in virginia. governor youngkin says parents can opt out of masking children

at school and require schools to be (person learning 5 days a week. hybrid systems will not be allowed. ashley, i want to hear what you've got to say about new york city mayor eric adams, he wants to end their work from home policies. ashley: empty buildings are holding back the city's pandemic recovery. major banks and tech companies sending mixed messages, we can't keep kicking the can down the road. adams says he coached them to get workers back into the office to stimulate the city's economy. data shows 28% of workers returned to the office in new york city but that number is down from a peak of 35% in december before the spread of omicron. city workers were told they will return soon while wells fargo is planning to bring

employees back in mid-march. get rid of all these mandates in the city and clean up the streets was no one wants to go back to the city for a variety of reasons. stuart: disney has announced they will build residential communities. what is that about? ashley: disney says it is moving beyond storytelling 2-story living. they plan to develop a string of real estate projects beginning in california not far from palm springs. the planned community will offer single-family homes and condos with one neighborhood for residents 55 and older. disney employees will operate the community association with their, quote, legendary guest service, curated experiences

will be offered including wellness programming and entertainment but unclear how much branding will be used, more locations in the us are being explored. stuart: goofy street and mickey mouse drive, i don't think so. football fans roasting the la rams over there super bowl parade. it was not well attended. maybe that has to do with california's vaccination restrictions. my next guest thinks the government was the big winner at the super bowl. dan heninger says legal sports betting is all about collecting taxes. explain it all after this. ♪♪

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stuart: those markets are in selloff mode. the nasdaq down 200. susan returns. what if the russians invaded ukraine?

>> we would see a bigger spike, $92, pretty contained. i heard calls for $125 a barrel. if this happens, sanctions and russia turns off the tap, crude oil is down and there isn't going to be a full-scale invasion of ukraine. may be some small incursions, it is one%, one month high. stuart: you think the invasion scare is contained? susan: i would imagine if we

were seriously on the brink of say a world war i would imagine stocks would be down 3% or 4% for natural gas up 10%, gold would spike. stuart: if the market really thought the russians were about to invade you are right. the market would be more sharply lower than it is. susan: the nasdaq is down 10% in correction territory. stuart: let's take a look at movers, up and down stocks. ford back to $17 a share. susan: they took away ted's the's model 3 crown is top electric car for 2022. fewer problems than the model 3, owner reviews and it is better for hands-free driving and alerting drivers who are not paying attention.

you heard elon musk talk about self driving the software system. consumer reports say the mock-e does better. after tesla it self they are recommending the model 3 but as the's brand drops into 20 third place. stuart: tesla has competition that is getting better. susan: and they get invited to the white house. what is happening with elon musk and tesla. the company filing a case against the sec accusing them of silencing his free-speech rights and harassing him and they haven't distributed a $40 million in 2018 from funding secured, harassment in the fact that they said part of the settlement is is tweets have to be approved by internal

communications and the board. in the twitter sphere. stuart: he often wins. transferoh is up. susan: up performance in a down market. a 2% stake worth $325 million pushing hasbro to spin off the games division which makes dungeons and dragons. you never played dungeons and dragons? it has been around 50 years. they are arguing hasbro, twice the size of mattel four years ago but now mattel is worth more. stuart: dungeons & dragons, isn't that satanism of some sort? susan: you throw dice. stuart: i just put up chucky. susan: keep me on my toes. stuart: football fans made fun

of the rams's within crowds at the super bowl parade. we have some aerial images, a one mile route, tens of thousands of people showed up but that is nothing compared to the 800,000 who came to the kansas city parade in 2020. may be the sparse turnout had to do with if you want to watch the rams parade you have to show your vaccination statement. this op-ed from the wall street journal reads the super bowl of sin, state legalization of betting and marijuana prove government is about taking, not helping. dan heninger writes those kind of headlines. welcome back to the show. what's wrong with gambling and pot to bring in government revenue? >> that the point of legalizing it.

the super bowl estimated $7 billion on the super bowl, you can bet on the outcome, the coin lip and whether odell beckham junior will score a touchdown. it is legal in 30 states after the supreme court enabled sports betting in 2018. you will never guess how much revenue those states took in in taxing and gambling, nearly $1 trillion in tax revenue for sports betting. here is my point. the same time they've been legalizing gambling, 18 states have legalized recreational marijuana. both of these things, gambling and smoking pot are potentially addictive for some people. it is clear the state or the government, chuck schumer will

introduce a bill in the senate in april to legalize recreational marijuana. that bill includes 10% tax, rising to 25%. governments always say they are doing this for public need to help people. that is shown to be a crock. so much tax revenue they legalize things like marijuana or gambling because they need the money, not to help people. stuart: the easiest way to tax more people is for the government to legalize gambling and take a piece of the action. >> these plans help with prevention and rehabilitation. it never materializes -- when they institutionalized mentally all from hospitals.

with medicines. look at the homeless mentally ill on the street. it never happened and it will never happen to those who become addicted to gambling or marijuana. they want the money. stuart: just want the money. texas is suing the government. they want masks and mandates gone. attorney general ken paxton makes his case. some trekkers bending to the pressure and leaving the ottawa protest. they can't afford to have their insurance canceled. grady trimble has the report from canada next. ♪♪ ♪♪

stuff. we love stuff. and there's some really great stuff out there. but i doubt that any of us will look back on our lives and think, "i wish i'd bought an even thinner tv, found a lighter light beer, or had an even smarter smartphone." do you think any of us will look back on our lives and regret the things we didn't buy?

or the places we didn't go? ♪ i'd go the whole wide world ♪ ♪ i'd go the whole wide world ♪ alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league!

stuart: for two hours and 14

minutes the market has been open. the nasdaq is up 200. from fed governor bullard affecting the market, the markets may be losing faith that inflation will abate meaning lesson or subside. not much risk of recession from fed policy. not much risk of a recession. we would like to hear that but it's not affecting the market. we are down down down. 50 for the s&p. the freedom convoy, operates the streets, prime minister trudeau said the blockades are a threat to the economy and relationship with trading partners. grady trimble in the middle of it.

any trekkers packing up and leaving? >> reporter: i haven't seen it myself. i walked up wellington street in front of the parliament early in several blocks down and i did notice, fewer in number and still a lot of people walking the streets but a lot more police officers than there were in previous days. you planning to leave? >> know. we are into when it. >> reporter: what would make you leave? >> a police beating, i don't know. >> reporter: we hope it doesn't come to that but all the way down here, trucks packed in with a lot of signs.

they've been here since the beginning. from a lot of the people on wellington street listen to this woman i spoke to as police were handing out flyers to protesters telling them they could be arrested if they stay. >> i have no idea what they are going to do. i've ever been in contact with the law. i don't know what they will do but i am committed to staying here. the truckers are here, i am with them. these are the warriors. >> reporter: new today is this fence they added. in this section they reinforced it with wood to make it sturdier. we will keep you posted how things develop. stuart: see you later. 500 incidents of unruly passengers, most involving the

federal mask mandate. ken paxton is former attorney general of texas, you are suing to end mask mandate on planes and in airports. on what grounds are you suing? >> reporter: typical of the biden administration, agency issues regulations and this is criminal. if you don't follow their guidelines, nothing congress gave the authority to do this. we are arguing the cdc does not have the authority to do what they are doing. stuart: if you got rid of masks on planes would that get rid of unruly passengers? >> people would have the opportunity to make choices whether to wear masks based on their own health situation and circumstances which is the way the country should operate. stuart: texas is a freedom loving state like florida. i feel free in texas and i feel free in florida and i suspect

getting rid of masks on planes will be popular in texas but not in california, new york or new jersey. >> i don't care. what matters to me is what my people want. they want to be free like you do. the reality why people come to texas in florida. they want to be free. they should be free because this is not allowed in the constitution or any law. stuart: you have won in court on a lot of these mandates. are you confident you will win on this one? >> a 90% win rate. stuart: i am sorry it is so short but i'm dealing with a market selloff, russians and ukraine and you are on the show because you are doing what a lot of us want to see happen. a new poll shows democrats approval plunging in california.

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stuart: still in selloff mode. that hours on 400.

nasdaq down 200. big tech taking it on the chin across the board. i see no winners among the big tech section. bitcoin moving down in line with stocks and look at the 10 year treasury, a flight to safety, u.s. treasury securities bringing the yield down 196 was a man caught on camera attacking a woman in broad daylight. minutes later he attacked another woman in west hollywood. is that guy on the loose? ashley: cops are warning residents to stay alert. the first attack happened on midday. a man is seen putting his arm around the woman before steering her into the driveway and pushing her into a garage.

the woman was able to break free. she was running out of the driveway 20 minutes later, the same suspect pushed another woman into her apartment, the woman screamed and the suspect ran off. no arrests have been made as the search for the suspect goes on, chilling and in broad daylight. stuart: a new poll shows only 30% of california's voters approve of diane feinstein. 38% approval kamala harris. they are both democrats. larry elder joins us. we had three radicals kicked off the school board in san francisco. this tells me may be the liberal tied is turning. should i get my hopes up? >> we can be cautiously optimistic. it took this for them to rethink their assumptions. the guy that attacked these women, very likely had a long criminal record, should not

have been on the streets. soft on crime policies is why things are changing, crime and homelessness. regarding the school board members who were recalled, the first issue is the finest high school in california is lowell high school. this board voted to go to a lottery system as opposed to exam they had for decades. that exam resulted in the majority of the student body being asian american. that wasn't good enough for woke members of the school board. the second issue is they spend this time renaming 44 public schools to get rid of the names of their oppressors one of whom is abraham lincoln and the gentleman on mount rushmore. schools are shutdown for all your denying a year of in person private education.

in that bay area city, crime, homelessness is why pelosi and harris are underwater and governor newsom is barely above water, 48% approval, 47% on approval. things are changing. stuart: the da in los angeles, i can see him getting out, the da in san francisco, that is local. can you see a time in the future when a republican could win a statewide election in california? >> a republican has not won statewide in 20 years. are you have to do is point at me and say republican, trump and it worked. i'm not sure five or ten years from now but now it is the working because republicans are outnumbered by democrats and registered independents 32 one. stuart: we hope you will see us

again soon and point the way forward, thanks for being here. look at this. coming up on 11:55, the thursday trivia question. what's the most points michael jordan ever scored in a game. do not google this. that would be too easy. 53, 75, 69, what do you think? the answer after this. feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. you could get out of debt sooner and feel what it's like to get your money right. (vo) ♪ america's most reliable network is going ultra! with verizon 5g ultra wideband now in many more cities so you can do more. . .

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stuart: in honor of michael jordan's birthday, here was the question, what is the most points he scored in a single game. i suppose you could have googled this. i did not. i did not know the answer. the answer please? 69. that is a lot of points. it was march 28th, 1990 in a win over the cleveland cavaliers. now you know. check the markets please. you have got to do this today. we're down 400 on the dow, 200 on the nasdaq. it is a selloff across the board. don't forget to send us your "friday feedback." send us an email, varneyviewers@fox.com. send it in. a little criticism never hurts. fan friday videos and where you're from. you have to say you're watching "varney & company." i'm in the panel event with bret baier to benefit childrens' hospital in washington, d.c.

there is a silent auction that ends 9:00 p.m. eastern saturday night. go to all-star panel event.com. click on the silent auction button. register that way, you cobid on a dinner with me, you lucky people. let's raise some money what is a wonderful cause. david asman in for neil cavuto. david are you bidding? david: i sure will. i'm david asman in for neil cavuto on "coast to coast." gold hitting $1900 an ounce since june. that of course is a risk play. russia and ukraine on the brink of war. president biden saying a short time ago the threat of a russian invasion is quote, very high. we'll bring you a live report from the front lines in a