from autos, to office buildings, why? it is trillions, billionaires who become zillionaires, by the way you'll pay the price so be very careful when they hop on the bandwagon and say they want clean energy and believe in the planet, no they want to hit the restart button because they make a whole bunch of money when they do it, ashley webster in for liz claman. ashley: all right, thank you very much, charles. those , they leave to preach to us, those elites, great points thank you, charles. well, of course, markets closed this president's day, but the situation on the border of ukraine is growing more tense as american officials warn of an imminent attack. president joe biden meeting with his national security officials today, as russian president vladimir putin says russia will recognize the independence of two breakaway regions in eastern ukraine. we will go straight to the white house, of course for the very latest developments. plus, president's day, well usually one of those

holidays filled with door buster sales, but thanks to the supply chain breakdown, this year, just a little different, we're going to get a look at the retail landscape from the tanger outlets ceo, look forward to that. we're also seeing a digital land russias property in the metaverse is selling faster than land in the real-world. okay, we'll talk to the ceo of every realm about how you can claim your digital estate in a fox business exclusive. we'll explain, i'm ashley webster en for liz claman. all right, we have breaking news for you, russian president vladimir putin signing an agreement of cooperation and friendship with the two break away regions of ukraine just moments ago. it came after he addressed the ukraine situation in a nationally-televised speech. putin calling ukraine a u.s. colony with a puppet regime riddled with corruption and

managed by foreign powers claiming it is a failed state and accusing it of stealing russian gas and using energy to blackmail russia with intentions of creating its own nuclear weapons. putin making his case for a possible invasion it sounds like and blaming nato for turning its neighbor into a theatre of war. okay, president biden, meantime, spent the day at the white house meeting with his national security team, defense secretary lloyd austin, chairman of the joint chiefs of staff, general mark milli, and cia director william burns providing updates on the very fast-moving developments on the ground, of course along ukraine's border. edward lawrence, live at the white house, following all of these developments, edward what's the latest? reporter: yeah, within the last couple hours, the president of ukraine zeldin ski has spoke to president joe biden about the situation and evolving status on the ground here, the russian

president also saying that he would defend those breakaway regions with russian troops if necessary, this could be some say a precursor for russia to go into ukraine. all of this comes in the pretext , where they believe a cyber attack will happen first before russia decides to go in and on that vein, senior administration officials have been talking with companies about russian cyberattacks, specifically within the last several weeks. now that includes last thursday, jpmorgan chase and citigroup. these two meetings, the government shared information specific information about how russia attacks online and about how they counteract that. now here is my exchange with the deputy national security advisor for cyber and emerging technology about this. listen to this. >> what's your level of concern that there could be an online or cyber attack against the banking system in the u.s. , should russia decide to invade? >> as we know, you know, as a society we're very connected and digitized society, and that as a

society, we don't have the level of cyber resilience that we wish to, since the beginning of the administration, president biden has made both domestic and physical resilience a priority. reporter: now the senior director for the center of technology innovation or cyber and technology innovation mark montgomery says the u.s. is only as strong as its weakest link and he has the banking system has put a lot of money into cyber protection but the water system has not. listen. >> the financial service sector is on the electrical power grid for its power after a few days, and so they are only as good as the grade of electrical power systems and electrical power systems themselves are reliant on our water distribution systems to provide the cooling water to the power plants, so in reality, eventually, even our best systems are only as strong as our weakest systems. reporter: he gives the water systems a d with that, everything is connected, back to the situation at-hand the french

president macron called for an emergency u.n. security council meeting. the united nations chief of the united nations says that they will respond or chief of nato, i'm sorry says they will respond swiftly with european allies in unison to this. back to you. ashley: all right, edward lawrence at the white house, edward thank you very much. as we said at the top of the show, okay markets maybe closed today but no doubt the threat from russia still looms over the rest of the trading week, geopolitical tensions and uncertainty has certainly been driving oil closer to that $100 a barrel the past week, and if russian president does invade ukraine, the u.s. will be pressured to release millions of barrels of oil from the reserves just to meet demand. and then take a look at nat gas, the price speaking over fears that russian suppliers of energy to europe could be curtailed if harsh sanctions are leveled on

that country, nat gas up nearly 7.5%. all of this while inflation still piping hot at 7.5% with the federal reserve gearing up to raise interest rates next month. we'll get a look on friday, by the way, at the fed's preferred gauge of inflation the core pce index and, oh, yes, we have big earnings on deck this week, with home depot, palo alto networks, macy's, first up tomorrow, while lowe's, over stock.com, tjx report on wednesday, with coinbase, beyond meat, alibaba all on thursday and we close out the week on friday with a look at foot locker's latest earnings, lending tree, and cinemark, a lot of retail so the question is how do investors navigate the markets with russia, inflation, earnings reports, all frankly looming overhead? well let's get right to the floor show. joining me now, slatestone wealth chief market strategist kenny polcari carry, and the cow guy group, scott

shellady, gentlemen thank you both very much. kenny let me look at you first and ask you, there's a real list of things that has got investors twitchy, no one seems to want to hang on to risk so as we look ahead as the bell rings tomorrow morning at 9:30 eastern, what do you expect? we going to head down with this tough talk from putin? >> well i think listen, i think look what happened today in the european market, the asian market all closed lower europe off mostly better than 2% it depends on what happens overnight tonight between asia and europe sets the tone but i would fully expect that if it remains weak the u.s. is going to follow suit and play catch-up because we didn't get a chance to play today so we'll have to catch-up and the tone of the conversation changes overnight, suddenly, putin you know decides to backup, that's going to change it. the way it's going it doesn't seem like that's going to happen so it seems like the tensions going to continue, and that would lead me to suggest that tomorrow you'll see some weakness and you'll continue to

see weakness until we get more clarity and the more that the administration keeps saying it's imminent, it's any day now, it's happening at any moment that's just going to keep the tension really really high. ashley: yeah, but after a while, scott shellady people are going to say, yeah we've heard that last week and the week before. lots of tough talk. we had keith fitz-gerald on earlier today and he says look, don't panic, and investors though, there is going to be a tomorrow. >> [laughter] 100% right and just whatever your timeframe is if it's three to five days that might be a little tricky, so if it's three to five years they get good deals and again this is the only industry where people don't like to buy things on sale. if you get something you really want to buy and it goes on sale by 10% you should be scooping it up and you know what i think? here is the deal. we've got an energy problem here forget about the ukraine and russia, we just have an energy problem here regardless, so i like that energy sector, so if i can pick-up something cheap

because of the markets taking a wash-out because of what's happening over in europe that's that so i think look at stuff in a bigger picture, there's going to be a brighter tomorrow and better days are ahead but we're going to have a bumpy ride and if you focus on something that's going to give you 20% off, 10% off, 5% off that's like going down to old navy picking up those shorts for a great deal. don't waste your time for the long hall go ahead and do it. ashley: kenny let me come back to you and talk about the fed, we had jpmorgan saying hey, they expect nine hikes in a row, every month about a quarter of a percent, others say look they are going to go with half a percent next month. what does that do to the psyche or what do you think they are going to do and is it too little too late? >> listen, i'm in the camp that they should do half a percent next month and shock them a little bit and try to take back control of the conversation versus allowing goldman or jpmorgan or morgan stanley to

drive the conversation. now they are doing a good job of that so certainly they are helping the fed in terms of take some of the air out, but i don't think we'll get nine rate hikes at all. i think if we get the 50 basis points, i think we should although i don't think the fed will do it but friday's going to be a deciding factor, the pce is coming out on friday that's their preferred inflation measure and that is expected to be hotter than it was last month , so that could reignite that 50 basis point conversation and i'd say actually the fed should do it, see if it shakes the market a little bit and in fact that may end up being a bullish signal where investors are going that the fed is taking back control and therefore, they would jump in and look this weakness in the market, i love to use the analogy when there's 30 and 40% people go running into go buy all of the dresses and when stocks go on sale 20 and 30%, people go flying out the door, what's the matter with this conversation? ashley: [laughter]

i know. >> right? they should actually be looking at this as an opportunity. ashley: i know, i know, scott i know you're a huge fan of the fed and my tongue is planted firmly in my cheek. is there a change that it could be too aggressive and i think i've talked to you about this before, but then you run the risk of going too far, and kicking off a recession of some sort. >> well, first of all, we're assuming that the fed is going to get it right this time, right they haven't gotten it right up until now so i'm going to back that they get it wrong again, okay? and to kenny's point, there's two things that i try to say. what should happen and what i think is going to happen, right? what should happen, i don't think the market be really as shocked by a half a percent rate hike at this moment so it's really kind of permeated the market and there are folks expecting that so it wouldn't be as big of a shock but where it will be a bigger shock is an

inter-meeting rate hike. there's only seven meetings if i got my math right so if you're talking eight or nine there's an inter-meeting rate hike and that will be more of a shock than a 50% rate hike now, so, here is what i think is going to happen. i think they will do 25, i think they will be the same old fed i know them to be, hike 25 wait and see , hike 25 wait and see and we went up with four rate hikes by the end of the year even though they should do more i think that's what will happen. ashley: all right, well we'll have to leave it there, scott, thank you, kenny have a glass of wine and relax, we'll see you here next time. thanks so much guys. appreciate it. >> [laughter] ashley: let's go on to real estate, thank you guys. real estate prices sky high in the real-world, but wait until you see what it costs for digital land in the metaverse. the ceo of every room is here to show you how you too can own a piece of property in cyber space , it's wild stuff, the "clayman countdown" is

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ashley: now, for a story that

makes my head hurt. the virtual land grab has begun, big money, pouring into the metaverse, with $500 million spent in 2021 alone, and no it's not just celebrities who are investing in the future, now, major companies like jpmorgan and pricewaterhousecoopers have joined in on the fun. still don't understand it. researchers from meta metrics solutions projects that sales this year could reach nearly $1 billion. i know there's a lot of money in this. here to explain every realm is the metaverse real estate investment advisory firm, it's called every realm. it's backed by the way by everyone from paris hilton to li l baby, the rapper. ceo jeanine urio is going to try to explain this to me so i can understand it. jeanine i understand the metaverse and virtual and how you can go around in virtual space. i have a hard time understanding

how someone's going to pay four or 500,000 for a home that you can't physically visit and sit in the lounge and enjoy watching fox business, you can only virtually visit, like you see there's some video on the other side of our screen. how is this all monetized? can you kind of go through it for me on a very basic level? >> i think the biggest problem is that people call it real estate, and so they get confused you can do a lot of things with what we're calling real estate basically pixels inside an interactive and social video game so for example, last week, we did a fashion show designed to coinside with new york fashion week in the metaverse. people could watch the fashion show that couldn't attend in person because of covid or base they weren't invited and now they are able to buy those same dresses a virtual edition and a real edition if they want to have it for their avatar for their real self, so the beauty of owning metaverse real estate is the ability to put whatever content you want to put on that space, so it's actually really valuable.

you don't need to live there obviously that wouldn't work but you can certainly do a lot of interesting things to get people to come back over and over again ashley: so i'd buy a home, a mansion in the metaverse and how can i monetize that? i know there's only a certain amount of plots of land or homes available, right, so that adds value, but how do i monetize? i try and get as many people to come visit me like twitter gets people using its service and maybe an advertiser would like to come along, no? >> nope, nope, nope. the problem is you keep calling it a house or a mansion and again get away from this concept of real estate. it's a bad moniker, but pixels in the video game, you could put a rocket ship, video game, pictures of your cat, do whatever you want to on this space, and what gives it value is how many people are passing by that space so if you have a really popular activation , you make a game, you could blow people up, people seem to really like that you

might have a really valuable parcel of real estate if you own that, if you own that activation or better yet you own the land next to that activation, so being the owner of something where there are lots and lots of people coming to it or coming near it makes it valuable. it doesn't have to be a house, doesn't have to be a building, anything you want. ashley: the problem is though, jeanine i say that because every article i read talks about mansions and homes and snap dog has a replica of his california mansion in the metaverse so that makes it confusing. you're essentially saying you're buying well an empty lot and do anything you want with it. >> there's a lot of lazy journalism as you know you're obviously a good journalist, but i also find every journalist pulls the same stock photo of somebody wearing a vr headset, and write a metaverse article. the metaverse isn't in vr. it isn't about buying a mansion in the metaverse. a lot of those facts are wrong. they are sensational so they get a lot of press but it's not really what we're talking about. we're talking about building

content that brings communities to spaces online, where people meet. we've all been doing this the past two years during the pandemic on zoom, on twitter , now you can do it in a way you can walk into it and see your friends and talk to them. it's great. ashley: it generated a lot of money last year, 500 million, projections say it could hit $1 billion this year. are we at the very beginning of this , we're just kind of figuring it out, exploring it and the money potential is enormous. >> absolutely. i mean think about it as a way for people to make their mark on the internet the way they do with facebook or instagram, it's a way for brands to connect their customers. we're definitely just at the very early stages of this and i'm sure you're going to see the volume explode. ashley: so do you get a call from someone who says look i'm interested in getting involved in this , how do i do it and, you know, what's an offer? is that the kind of call that you get? >> we get so many calls we actually started a university

about it called realm academy because we couldn't possibly field all of the people that wanted to learn from us, so we actually hold a class. you can register it has 500 paying students who are there, learning in the metaverse, about it and the second semester will be starting up soon. ashley: so are you a real estate agent? that's probably not the right moniker. what do you call them if you aren't selling physical real estate? i understand that, so do you have a special title? >> we're not, we don't sell it. we buy it and we develop content on it. i like to think of us as netflix for the metaverse. we're building content that's social and interactive places for people to go to spend time, just like you'd procrastinate with social media or with television you'll be procrastinating in the metaverse in the future and i'm going to be building things you're visit ing there. ashley: [laughter] good for you. thank you so much, jeanine, for explaining it to me. i read too many articles taking

me down a wrong path but the way you described it is actually a lot more simple to be honest with you. jeanine yurio, thanks so much for joining us fascinating stuff i'm sure we'll be talking to you many times into the future, thank you. appreciate it. >> thank you. ashley: all right coming up, next, thank you, bye-bye. the latest in the major league baseball walk-out and new details on that cargo ship fire that's burning up porsches and volkswagens up the atlantic coast there it is not a pretty picture, the "clayman countdown" is coming right back. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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icahn who owns a small stake in mcdonald's nominated two members to the board as he pushes for the company to adopt a more humane approach to its treatment of livestock. mcdonald's says it will review the nominees meanwhile shares of mcdonald's and futures trading closed essentially flat around 250 bucks a share. the happiest place on earth is about to get a bit more expensive, for orlando's disney world resort is raising prices the guests visiting parks for multiple days and guests who want to visit multiple parks on the same day. ticket prices are set to increase between two and 6% in what will be the parks largest price increase since before the pandemic, in its latest earnings report disney noted revenue from its theme parks reached record levels as attendance bounced back post- covid. shares of disney just down slightly, down about 1%, getting more expensive at disney. u.s. biotech firm novavax now

added canada to the list of countries that have approved its covid-19 vaccine. and its been given a nod for adults age 18 and older and will be the first protein-based vaccine to be approved for use in canada. while the company waits for fda approval here in the u.s. , its ceo says he is confident it will happen in the coming weeks, shares of novavax though down nearly 2% after finishing down on friday's you can see there. and only aishah hasnie fire that broke out on a cargo ship carrying roughly 4,000 new luxury vehicles from germany to the u.s. reportedly started to die down. the ship was carrying a mix of electric porsche and bentley vehicles to the volkswagen's rhode island plant when it caught fire off the coast of portugal, and no cause of the fire has been figured but the highly flammable lithium ion batteries that power electric cars is certainly making it harder to put the blaze out. shares of the german auto maker

fell as you can see , 2.5% on friday. all right, now on to this story, it is almost march, and guess what? still, no pro baseball in sight. the players union and the league have been unable to find an agreement on several issues, and the lockout has now gone on for more than two months. connell mcshane joins us with the , dare i say, state of play, of which there has been none so far, carl. but at least there's still talking, right? connell: exactly at least they are still talking, ashley. it doesn't look great right now, i will say that, but the talking part of it and the fact that they are talking longer today than they did in recent negotiations might be a good sign, you have negotiators from both sides having arrived earlier in the day in jupiter, florida where they have been holding these talks. they started at 1:00 this afternoon so about two and a half hours ago. now i'm told they spoke to a source close to the negotiations and said they spoke for a little over an hour, so that was, you know, one to 2:30 or something

and then took a break and from what i understand they are all still there so they might meet again before the day wraps up not sure exactly to read into that you have players there at least two owners are also part of the talks in-person today, colorado rockies owner dick mom ford, san diego padres owner are part of the labor committee so we're told they are authorized to negotiate on behalf of the committee and a lot of work to do for the commissioner to do and his team along with the union negotiator buts meyer because they don't get a deal by this week, you can almost guarantee regular season games will be missed and that means players would miss paychecks. quick of what the owners want and this is not a complete list but they certainly want more teams to make the playoffs, 14 instead of the current 10. players are okay with 12, they also want the option to trim the minor leagues further after the season if they so choose, and they want a draft lottery like what we see in the nba. the union, meantime, they are pushing for their younger player s to get paid more, and

they want to do that with a bonus pool and have a pool of money, give bonuses to the younger players. the owners are open to that, but the two sides are nowhere close on how much money they should put in the pool and also higher minimum salaries something they are pushing for so in addition to all that, ashley watch for any headline that comes out of these talks on something called the competitive balance tax, the owners want higher tax rates for big spending teams players says that would basically be a salary cap by a different name, but for a deal to come together it would seem like you have to have some movement on those tax rates so that's something to watch last week as a point of comparison, they met i think it was thursday , they met for 15 minutes and the whole thing broke up so today at least they met for over an hour and they are still there they might meet again so baby steps. ashley: you'll be telling this story for a while but great stuff as always, connell thank you so much, appreciate it. connell mcshane on the latest on the baseball talks. all right, president's day sales taking a different look this year, as the nation honors washington and lincoln, the ceo

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okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ashley: we have some breaking news, the white house announcing moments ago that president biden will issue an executive order that will prohibit new investment trade and financing in the two breakaway regions in ukraine. the white house says the eo will also provide authority to impose sanctions on any person determined to operate in those areas of the ukraine. it also says it will soon announce additional measures related to what it calls a blatant violation of russia's international commitment, russian president vladimir putin supporting independence now in the two regions in just the last hour, president biden has just began a secure call we're told with the leaders of france and

germany. those are the very latest developments. meanwhile, it is president's day and the sales as we know are always pretty big from retailers like target, best buy, and academy all rolling out online from electronics to home furniture, clothing and oh, yes sporting goods and tanger outlet s where there's always a sale reported a fourth quarter earnings beat with funds from operations of 49.7 million or $0.45 a share, the outlet mall giant will have 36 locations in 20 u.s. states, also reported that ten entertainment sales have exceed ed pre pandemic levels by nearly 18% that is remarkable. here in a fox business exclusive , is tanger outlets president and ceo steven yellif. the first thing to say is congratulations. how do you account for those such strong numbers in the fourth quarter when we saw the omicron variant basically at its peak, it didn't seem to slow

down the shoppers. >> first of all thanks for having me, ashley. ashley: sure. >> i guess we can attribute it to the fact that we're open air, our customers like to shop outdoors, and like kenny said before, when bloomingdale's is on sale, the customers are going to run to the stores. well, we're on sale every single day. 500 brands, 2,500 stores across our 36 shopping centers in 20 states. ashley: well let me talk about some of the common complaints we've had from retailers, a labor shortage, supply chain issues, low inventory, and all of this causing higher prices. have you been forced or as an operator of these malls, have you noticed the impact those issues have had on your tenants? >> you know, less stress on our tenants in the fourth quarter than we had anticipated, so we were, as you can see from our

sales productivity very pleasant ly surprised with how we ended the fourth quarter and in some of our geographies, we gave an hour back from typical shopping hours, we did so because of some of our retailer staffing needs, but they still hit all-time highs, and we reported 92 of the top 100 retailers in our portfolio, experienced positive comps for the rolling 12 months of sales, ending the year. ashley: that's amazing, and you know, what does this say that we know the online shopping became like the thing to do, of course in the height of the pandemic but i find it interesting, bossier read reports what people are going to continue to use online, especially those who never did before but were forced into it, but this shows that people actually do want to get out as you say in the open air, and the pent-up demand is still there for in-person shopping. >> well a lot of the products that we sell in our shopping

centers is footwear and apparel and those are things people want to go out and temperature and feel, try on before they actually make a purchase. what's interesting is we're finding a lot of people spend time online doing window shopping also, and that's an important part of our business now, so we're taking our web, our app, all of the different touchpoints that the customer gets to know tanger outlets before they come and visit us in the shopping center where they can see the product, they can see what's going to be in the stores, we communicate with them and send them additional discounts when available, and let them know the amenities and the programming that's happening in any one of our shopping centers on any given day so the communication is critical. we want to meet the customer where they are, but we also want to drive them into the centers where they can actually purchase and transact. ashley: do you worry about the high inflation rates, 7.5% that the trip to the mall to tan ger may take a back seat because people are paying so much more for basic necessities?

>> yeah, well i think that inflation definitely values our channel. we're on sale everyday, so everybodies favorite products, the logos they want, the brands they want, on sale, everyday. you don't have to wait for the stores to go on sale. that's our model. that's our format. ashley: i read a number here, it's remarkable. you said that the average tenant sales productivity i'm assuming this is in the fourth quarter came in at $468 per square foot. that is the highest of all-time. how do you beat that? >> you keep grinding. you know, i think we owe to it our retailer partners to bring more traffic and more customers to our shopping centers so what we're doing is creating more amenities, better food and beverage, interesting new stores , entertainment uses and we think all of that, that mix

and that merchandising in our shopping centers will drive a new customer to our shopping centers, get them to stay longer when they're there and ultimately a longer stay will reveal itself in the form of a bigger spend. ashley: yeah, and it's all about the experience. stephen yalof, the president and ceo of tanger outlets thanks for joining us we do appreciate it. >> thanks for having us back. ashley: all right of course. the nations big banks, by the way, are possible russian retaliation as the biden administration gears up to administer sanctions on the kremlin. charlie gasparino will give us the latest on what the banks are doing to protect themselves and their clients, next. i may be close to retirement, but i'm as busy as ever. careful now. nice! you got it. and thanks to voya, i'm confident about my future.

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ashley: well, russia becoming the latest country to introduce cryptocurrency regulations, the ministry of finance has introduced legislation that sets guidelines for crypto exchanges. now, the bill treats cryptos as an investment tool and crypto exchanges must obtain a license and be included in a dedicated government register. the bill is in opposition to the bank of russia, who by the way, wants all cryptocurrency trading and mining banned. cryptocurrencys not taking president's day off, trading, well as you can see , a little lower, $38, 300 for bitcoin. tensions between russia and ukraine reach near breaking point the biden administration has been working closely with wall street's top financial firms to assess the risk of potential russian cyberattacks. joining us now with more on what

the banks are doing to try and stop this , our very own charlie gasparino. charlie? charlie: i think it's more than just cyberattacks ashley. i think with essentially what went down and has been going down the last two months is the biden administration working with banks making sure that banks don't have massive counter party risk to russian or russian oligarchs or russian companies where if this thing shuts down, if we have massive sanctions that and the global, the markets going to some sort of a frenzy, that the banks are essentially protected. from what i understand, based on those conversations, conversations i've had with ceo 's at major banks, yes, the financial system is pretty protected. there is not going to be a collapse here. this is not 2008 this might be along the lines of say y2k, which as you know, didn't really happen, but there is a lot of talk between the banks and the biden administration and here, that's the good news. the bad news is, ashley, i'm hearing this from bankers is

that the biden administration could not get broad buy-in from european counterparts to basically cut the russians off of this swift system, and there's not going to be a shutdown of that, as swift as that cross-border payment system that if you cut russia out of that, their economy would essentially freeze and they couldn't get the europeans to agree to that. swift is basically owned by all the big banks, it's domiciled i believe in brussels, they need european buy-in because a lot of the banks involved in swift are european banks obviously to make this thing, to get a swift ban working and they couldn't get it and so you've gotta ask yourself, and i think this is a key question, how bad or how tough will the sanctions be if you can't get , if you can't use the swift system to cut out russian transactions. so listen, tomorrow, if they invade tonight, tomorrow is probably going to be a hectic day in the markets oil prices

probably shoot up, stocks probably go down, but you know, the swift system is not going to be closed down, and maybe that will alleviate some of the sort of turmoil in the markets, but it does very little to pressure russia to stop doing what they are doing, so that's where we are right now just keep watching there's an interesting situation ashley back to you. ashley: it's very, you know, to your point, charlie, the swift system is over seen by six to 10 central banks but is over seen by the national bank of belgium and it is a huge operation, so you're absolutely right, very interesting stuff. charlie, thank you very much. so, the question is, will it be putin or powell that plays the most havoc with the markets over the coming days, $233 billion countdown closer is here with his analysis and the sectors you should invest in , as volatility reigns, we'll be right back.

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♪. ashley: sew what happens when the markets open tomorrow? we don't know but it could be pretty interesting given everything that is going on in ukraine this is a good time to bring in the countydown closer with $235 billion with assets unmanagement. we have brad mcmillan. brad, thanks for being here. could be an interesting day tomorrow. of course everything is like with every headline the market, if it's a positive, we're not going to see conflict, then markets start to come back and vice versa. for someone with so much in assets that you're managing, how do you deal with your clients who call up in a panic, perhaps, say, oh, my for, what is going on? what should i do? what are you telling your clients? >> i ask them a simple question. i say when was the last time you thought about ukraine before

this? and if the answer is never, then why do you care now? i mean it is a tragedy. i don't want to minimize that but what effect will that have on the average client? not much. ashley: yeah you say that the fundamentals to that point of the economy are just fine. corporate earnings seem to be, we'll see, but, overall you think we're in a pretty good place. although we do have the fed meeting next month and what does the fed do? are they a little behind? we'll start with the fed. i will get into sectors you like. what are you expecting from the fed? jpmorgan says nine hikes in a row of a quarter of a percent. what say you? >> i would say it doesn't really matter what happens after this meeting because the fed is going to set the program. they're going to stop, they're going to stop buying bonds. they will stop the quantitative easing. they will raise rates by a quarter point. then they will say we'll see. because the economic damage

hasn't been that bad from omicron. there are signs that inflation is rolling over. they're going to say they're data dependent as they always have. that is really the market has gotten ahead of itself. ashley: okay that said, what sectors do you particularly like in this environment? >> i think we've seen two things happen. i think we've seen tech valuations reset on the fears that interest rates are going to go up. valuations reset for a lot of companies but the growth is still there. i think that is actually an opportunity to buy things on sale. the other thing i think out there is the housing in particular, i'm sorry, go ahead. ashley: no, go ahead. you carry on. you finish, i didn't mean, i was almost going to jump in but i didn't. carry on. >> housing in particular, people are saying wow, interest rates are going up. that is going to kill the housing market. no it's not. the fundamentals are still there. supply is very limited. demand is very strong.

neither of those is going to change. rates will go up. but people still need to place the lift. ashley: you still like tech. do you like the big tech names? they're getting beaten up now. there some buying on the dip? take as brave person but do you like that? >> i like tech that makes business more efficiently. take a company like microsoft, oracle, companies like those. not so much like a netflix or a or a facebook, more of a play on the consumer. i like tech that is real tech. ashley: okay. fair enough. what about the financials? you know we often are led to believe with interest rates going up banks make more money on their loans or is that not the whole picture? >> it is the whole picture but the question is how much are rates going to go up? we've got all these nine interest rates coming and that may happen, but what happens if

inflation starts roll over? what happens if the economy starts to soften a little bit? the nine goes to four. expectations for the financials on the yield curve that can change pretty quickly. i'm more cautious about financials because of that. ashley: so you're not worried too much about 7 1/2% inflation? you see that coming down? i think we can all agree it is not transitory as was first said but what impact is that having? with the fed raising rates, with can we see the hot inflation number start to decline? >> i think it is probably two to three months from now. maybe a little bit longer. but you're already starting to see some of the hottest numbers start to roll over. i think the real question is, if we're going to see it continue to stay high, will we eused cars up 40% a year from now? if that is the case you shouldn't be buying stocks. you should be buying used cars

but i think the market will normalize. i think things will come down. it is getting better not worse, and that is the real thing to watch. ashley: i think that is a great place to finish, brad. i feel a lot better about things. i think you're calm, cool and collected. brad mcmillan thanks for joining us. that will do it for the claim man "countdown." "kudlow" will be here next. ♪. >> welcome to "kudlow." i'm sean duffy in for larry kudlow. sean: vladmir putin declared freedom for ukraine. what can we expect from the next couple days? we have edward lawrence joining us from the white house. reporter: sean, in the last 30 minutes announcing sanctions they will put anybody who is