maria: you have 20 seconds, joe. >> -- in 2024. he recently won a straw poll at cpac getting 59% of the vote. this is someone who feels he has unfinished business. the question is will joe biden be his opponent, maria. maria: all right. it's great to be with you both this morning, dagen mcdowell and joe concha. more to discuss tomorrow. "varney & company" begins right now. thanks for joining us. stu, take it away. stuart: all right, maria, good morning, everyone. no change of course. the president is sticking with the policies that have got him into so much trouble the first year. to fight inflation, he'll spend more money and go after big corporations which he thinks are price gouging. on energy, no change. the keystone pipeline will not be built. no new drilling or fracking for oil or nat gas. on ukraine, the president forcefully rallied support, but he did not stop russia's oil sales to america, and he ignored our failure to deter russian

invasion. he said we've already -- we were ready. but if we'd been ready, russia wouldn't have invaded. those are my three big takeaways from the state of the union speech, and here's the result of those three items, a huge increase in the price of oil. we hit $112 a barrel this morning, highest level in about 9 years, and certain to set off a new round of energy price inflation. here's the price of gasoline this morning, up 4 cents overnight to a national average of $3.66. you'll see a lot of gas stations changing their prices this morning and a lot of drivers filling up before it goes up some more. at this rate $4 gasoline will arrive this month. now look at interest rates. what your seeing -- you're seeing again is the flight to safety. uncertain times, volatility, anxiety, investors go for the safety of treasuries. you won't make much but you won't lose either. 1.78 is the yield now. stocks going up -- this is not much of a rebound if from

yesterday's big losses. the dow was down, what, 500 yesterday? back up only 140 this morning. small gain for the s&p, up 37 on the nasdaq. bitcoin, last time i checked -- yeah, there it is, $43,700, and that is down slightly. all right, let's get to the war. it is it is the backdrop to everything. we're seeing indiscriminate if rocket attacks continue. the united nations reports 536 civilian casualties in ukraine. there is also a report that a chechnyan assassination team had slipped into ukraine but was discovered after a tip came in from a disgruntled russian soldier. they were all killed. earlier this morning the russians said they were ready for new peace talks. they also said a third world war would certainly involve nuclear weapons. it is wednesday, march 2nd, 2022. "varney & company" is about to begin. ♪

>> president -- [applause] zelenskyy -- every ukrainian in their fearlessness, their courage, their determination literally inspires the world. russia's vladimir putin sought to shake the very foundations of the free world, but he badly miscalculated. we stand ready to do more if necessary united with our allies. these steps will help blunt gas prices here at home. we can end the shutdown on schools and businesses. it's time for america to get back to work. let's use this moment to reset, to stop looking at covid as a partisan dividing line. we should all agree the answer's not to defund the police, it's to fund the police. [applause] we need to secure our border and fix the immigration system. we can do both. we are stronger today than we were a year ago! stuart: all right. let's wring in my colleague -- bring in my colleague will cain after you just heard the president speaking there. will, i think the speech failed on inflation and failed on energy. what's your opinion?

>> i think it failed, and i have the same sense as you, stuart, because it tried to sell you a reality that does not exist. that the economy is going strong. the truth is people -- and i'm here at sweet temptations diner in mcallen, texas, people living in reality talking about their issues over breakfast understand what's happening. they understand what's happening with their pocketbook, they understand what's happening in the economy. and maybe, stuart, this is such a valuable exercise what we do, going to diners, talking to americans because you hear thoughts on the ground from real, average americans. and the thought that aye heard over and over this morning was what was rarely said last night. here, clearly, immigration is a huge issue. and he got a few lines in about immigration and, again, pretended like another reality existed where he was doing something about it. and this i find interesting, stuart. you were just talking about ukraine, and i think it's a great question, to what level do we tolerate and encourage american involvement. table to table, here's what i've

heard: we want to be there, we want to support freedom searching -- freedom-seeking people. we should be funding them, we should be sending money, arms, but we need to draw short of standing off with a nuclear power drawing us to the edge of war. that's what i've herald this morning from americans. -- heard from morning from americans. stuart: you're at a diner in mcallen, texas, this morning. >> right. stuart: i want to go back to the immigration issue. the president said he would control the border. all right. how's that going down in mcallen, texas? >> well, not well. i'm going to give you an example. i was sitting here at a table earlier talking to two ranchers. 3300-acre ranch, and i was talking with them about what they personally experienced. it's not that unique, will, you don't need to put us on tv, oh, people running across our property, leaving garbage. i said, what are you talking about, monthly, weekly? they scoffed at me.

no, daily. this is what we deal with on a daily basis. and i think it's parking lot9 oe union, stuart, you can't convince people of a reality that does not exist, at least not for very long. maybe after covid elites and politicians, and quote-unquote, experts feel emboldened to sell you a fake reality. but with immigration, inflation, you can't sell to the american people that you're doing something about a it. that's what it sounded like last night in the state of the union. when their personal experience, their property shows them a different reality. stuart: yep. i don't think he sold it very well at all, actually. thanks very much, will cain, see you later. back to the financial markets this morning. that's not much of a -- there's green on the left-hand side, but that's not much of a rebound from yesterday. oil just hit $112 a barrel. okay, it's backed off to 110. so what? $112 a few minutes ago, that is a big negative, i would have thought, for the financial

markets. shah gilani with us this morning. straightforward question, which stocks, if any, are you buying now? >> we'red adding to energy professions -- positions, stuart, and we're adding to miners, bhp we're adding to, but it's really the energy sector that's going to continue to do well, in my opinion. i expect to see wti, the u.s. version of oil, at $125 and perhaps $150 by the end of the summer. i've been making that call for some time now, been on the outside of the envep lope there, but we're starting to see it north of $100 on wti and moving closer to 125. that bodes well to energy stocks, we own chevron, have obviously done well with that. we own some of the pipeline companies too, and is we're continuing to add to those. everything else is on hold penning where we see market, hopefully, somewhere settle out. stuart: apart from energy

pipeline companies, why buy any stocks when you've got 10% inflation on its way by the looks of it, $4 gasoline and food prices through the roof? why buy anything other than, okay, energy and pipeline companies? >> well, this is a stock picker's market. it's quickly become that, and i think there are going to be plenty of opportunities going forward in stocks that are selling that are actually now on sale. some of the big tech stocks are on sale and may come down a little further. those are going to be great opportunities for investors who aren't in those who have maybe taken profits and are looking to get back into those. there are lots of companies that are producing fabulous earnings, record or profit margins in terms of q4 earnings and profit margins. of everything is great fundamentally, it's just technically the market's very heavy. and given the narratives that investors are weighing -- in other words, war, inflation, rising interest rates -- i think, generally speaking, consumer confidence and investor sentiment is getting heavy, and

that doesn't bode well technically for the market. so we're looking for opportunities to buy stocks lower, i think we're going to get that in short order. stuart: okay. in 20 seconds can you tell me the best buying opportunity right now in the five big name big tech companies on the left-hand side of the screen? which one would you buy now? >> microsoft and amazon. i'll take those two all day. stuart: okay. we'll take 'em too. thanks very much, shah gilani, see you again soon. thanks a lot. during his state of the union message last night, president biden announced new restrictions on russia. good morning, lauren. lauren: morning. stuart: this is about air space? their planes can't flight anywhere over -- lauren: and vice versa. the president said u.s. skies are now closed to russia. >> tonight i'm announcing that we will join our allies in closing off american air space to all russian flights, further isolating russia and adding an additional squeeze on their economy. [applause] lauren: passenger cargo, charter

flights all banned. russians and specifically russian oligarchs have nowhere to go because the european union, canada and the u.k. all shutting their air space for russian airlines. stuart: isolating them, that that's for sure. i believe there are more businesses, big businesses, cutting ties with russia. lauren: i'm calling this self-sanctioning because it's not formal, it's moral, right? it's corporations on their own saying we do not support president putin's actions, and it's about to make life for russians really, really miserable. three of the world's biggest shipping companies including mediterranean shipping will no longer serve russia aside from humanitarian goods. ford suspending operations, gm and harley davidson suspending exports. boeing won't service russian planes, they can't get the parts. apple will stop selling iphones and quites -- devices there, also making changes to its maps to protect citizens in ukraine. international law firms like

baker mckenzie are parting ways with major russian clients. imagine if you are living in russia right now, and that's why they're protesting. facing 20 years in jail for doing so, and we've seen thousands and thousands across russia protesting. stuart: it's called isolation. russia is isolated bigtime. one more time check those futures. we've got 20 minutes to go before we open up. i see green but not enough to recoup yesterday's losses. why are president biden's poll numbers so low? speaker pelosi suggests it's because we are uninformed. roll tape. >> for people to appreciate what the president has done and working together with the congress, they have to know what it is. people have to know. stuart: i guess we just don't know how lucky we are. putin does not want ukraine to join nato. would ukraine accept not joining nato after all putin's done to their country? i'll ask a member of ukraine's parliament about that next. ♪

♪ we hit the bike trails every weekend shinges doesn't care. i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles. so, what can protect you? shingrix protects. you can protect yourself from shingles with a vaccine proven to be over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older.

shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. ask your pharmacist or doctor about shingrix. shingles doesn't care. but you should. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without

finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network.

you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds

from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 ♪ ♪ stuart: intense shelling continues in the city of kharkiv. a police department building in the city was hit by a missile strike. look at that. maybe an attempt at decapitation of the authorities there. mike tobin is in lviv. mike, what's the latest, if you can tell us, on that 40-mile-long convoy? >> reporter: you know, there's a degree to which it is a puzzling. that 40-mile convoy to the north of the capital city of kyiv, and then they seem to have just taken up position. so the big action that we've

seen out of them, we don't know what it is. they're in the chernobyl reason, and that could explain why the russian forces made a point of taking that chernobyl exclusive zone, but they haven't made -- whatever the big move is, they haven't made it. this as the violence intensifies. tv towers, municipal buildings seem to be among the recent targets. you mentioned kharkiv. there's a police headquarters there that took a direct hit today. burst into flames. yesterday a municipal building, a regional administrative building took a hit and burst into a giant ball of flame. this after the city of kharkiv, to the east of the country, came under unrelenting and indiscriminate rocket fire. it appears, aledly anyway -- allegedly anyway, a cluster bomb was used as well. russian paratroopers are taking up position in that town to the east, in carkey. -- kharkiv. when ak-47s arrive, the line of volunteers, min looking to

join -- men looking to join the fight, will wrap around the building. there's a tremendous eagerness to fight. with the flow of refugees to the border, you get these tearful partings. the women and children flee to safety, the men stay to fight. >> it's terrible because it was so unexpected, and nobody was prepared to do it, this situation. [inaudible] >> reporter: meantime, the ukrainian national security chief says a plot to assassinate ukrainian president volodymyr zelensky was this thwarted, the assassins all killed. apparently, there was a chechnyan hit squad that came in when the fighting was most intense, again, according to the security chief. they got a tip from russian turncoats who don't support the war. they let people know that this hit squad existed.

they escaped into the chaos, if you will, around the airport, but the ukrainians learned they were there, identified the hit squad and killed all the members at the edges of the airport according to the national security team. stuart? stuart: from a distance it looks like major cities in ukraine are being encircled, and they're setting in for what looks like a medieval siege. is that accurate? >> reporter: well, i think you could say this is a medieval siege, certainly a throwback to what you've seen in world war ii. and if you look at the map, everywhere the russians have entered from the north, from the east and from the south, they seem to be gaining that foothold hay want particularly -- they want particularly if you look at the south where the fighting has been rather intense near the coastline near the dnieper river as it empties out into the black e sea. they just gained a little town there, at least have been fighting for control over it, and the russians claim they gained control of one of those little towns, and that gives

them access to a bridge. therefore, all of the fortification that the russians have been building up since 2014 now have access to the mainland. stuart? stuart: is there enough food to go around in this siege? >> reporter: it's tough to tell in those towns, particularly when you look at kyiv, we know that the road to the south has remained open. and that allows refugees to get out of there, and that means some food can get back in. different things can get back in. when you're talking about kharkiv, they do have access to the russian border in terms of getting food, and a lot of people did flee over the russian border. in terms of food, we haven't heard of a crisis yet, but where the fighting is intense, you can't go. stuart: and what about the fighting spirit of the ukrainians? i mean, you're into a full week of fighting now. is their spirit still strong? if. >> reporter: ukrainians are unbowed. we made the example of the people who line up to get the weapons every time a new shipment of a ak-47s arrives.

we know they did get shipments of turkish drones, but as it relates more to the civilian population, i've been with the underground, if you will, the people who get together and make the molotov cocktails, they take all the old liquor bottles and mix up their special concoction for the molotov cocktail, package them up and get e them ready to ship to kyiv, kharkiv and the other places where the fighting is intense. stuart? stuart: mike tobin right in the middle of it. great stuff. the world is watching, mike. thank you very much, indeed. now, a new report shows just how many casualties there have been in ukraine since the invasion started. how many? lauren: 1500, it's civilian and military casualties, and it's unclear if that means fatality or injury. it's still a high number on this day seven. fighting could go on it's estimated another month. the same briefing estimates it could last up to four weeks and, obviously, this becomes a humanitarian crisis.

874,000 refugees and counting. the e.u. now proposing two-year leases for those refugees so they can live and work in the 27-member bloc. most of them right now in poland. ultimately, 4 million people could be displaced here. this is europe's largest refugee crisis of the century. stuart: and what you're looking at here is the backdrop to the financial markets, and there's an immediate impact on the price of oil. we now have oil at $110 a barrel. just a few minutes ago we were, i think, 113. i think we actually hit that level. certainly, 112. but what you're looking at is energy price inflation, pure and simple. the price of gasoline took another hike overnight. you're now at a national average for regular of $3.66. that's up 4 cents overnight, 12 cents higher just in the past week. overall, futures show some green this morning. but remember, we had a big drop yesterday. the dow was down 500 points. you're back up just 160 as of right now. we're going to take you to the

opening bell on wall street after this. ♪ ♪ trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler,

trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. take a stand and start a new day with trelegy. ask your doctor about once-daily trelegy. and save at trelegy.com.

real cowboys get customized car insurance with liberty mutual, so we only pay for what we need. -hey tex, -wooo. can someone else get a turn? yeah, hang on, i'm about to break my own record. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: the futures show some green but not that much after yesterday's big declean. dow maybe -- decline. dow maybe up 170 at the opening

bell. look who's here now, the man of the hour, the man of the week, the month or the year, if you want to put it like that, eddie georgia eddie ghabour -- gabor, who has been right so far. genius, is it time to start buying yet, or is there further down to go? >> look, there's further down to go, unfortunately, stuart. i mean, we're going to get some bear market bounces. we get good news out of russia, you could see a 3-4% bounce. look, my number one job and my company's is to try to minimize losses for our clients. and that's why in november on your show when we made the call that we were becoming more bearish for this coming year but because of the economic backdrop, i told you that the second quarter was going to be the most problematic. and we continue to get more and more evidence of that. now that every we have oil at $110, i mean, i do not believe most people are properly positioned for a drawdown that could be only halfway done in this market.

i believe the gdp numbers in the send quarter are going to come well below consumer, well below estimates, and then you have a fed tightening. they have to thread a needle that i don't think they're going to be able to deliver on, and i'm very concerned about the economy here in the next three months and how bad inflation has even gotten. worse that i thought. stuart: do you see a recession anytime soon? >> stuart, unfortunately, as each week goes by we continue to get more data on how hurt the consumer is. i think it's going to be very difficult for us to avoid a recession sometime next year. look, the fed can do one of two things, tech tighten two times and we still have the economy hurt, or they can do do it aggressively and drive us into recession. there's going to have to be some dramatic turn-arounds, and i don't think the probabilities are that high at this juncture. stuart: if you've got some extra cash available, why not put it

in the bank? you can sleep tight, your money's insured. you don't make anything, of course, but you don't lose anything either. isn't that an a attractive option for some people at this particular moment? >> stuart, that's a great point. look, we talk about risk management with our clients all the time, and sometimes a great tool is having cash in your portfolio. we've been incrementally increasing cash can on big risks. we increased a little bit of cash yesterday because we made some good returns on the treasuries that we own. we want to add dry powder to be able to buy the dip when it's time to buy it. i think these people continue to buy the dip and they keep losing, losing, you're not going to have anything left to buy the dip with if you're not careful. so i think being very defensively positioned here, you're going to have hutch better buying opportunities, in my opinion, to take advantage of the carnage that, unfortunately, is going to come out of this. stuart: we've got 30 seconds, and you've got to tell me you are buying anything, anything at

all today. >> absolutely not. nothing today, stuart. we are not buying today. stuart: you've still got 20 seconds left before the market opens. you could have filled that time for me there, lad, but you didn't. eddie, you've been right so far, thanks so much, eddie ghabour. the bell is now ringing, and we've got 5 seconds to go before we open this market on this wednesday morning, march the 2nd. here we go, we're off and running. and right from the get go we're down 597 yesterday, now it's back up 200 wednesday morning. a lot of the dow 30 are, indeed, in the green. but, again, i have to say it, that's not a huge bounceback after the big loss. the s&p 500 this morning opening higher to the tune of a half percentage point. nasdaq composite also opening higher, almost a half percentage point higher. big tech in recovery there? if a little bit. microsoft, 296. apple, 164. google, 26.92.

amazon's down a fraction, right around $3,000. metaplatforms pretty close to -- meta platforms pretty close to breaking below $200 a share. i want to talk tesla because i'll tell you why. i cannot understand why president biden failed to mention tesla last night. he pumped up ford and general motors, but he did not even mention america's most successful car company as of right now. no mention of tesla. what's going on? lauren: yeah. i think a lot of people are onboard with you just wondering why can't he say the word and the company tesla. he's only said it once so far in his first year in the white house. look, it's because he's a pro-union president, and these ford, gms are union shops. however, you can imagine if you're elon musk, that's not very pleasing to you. you are the richest man on the planet. some would say he probably is the most innovative man right now in america, and he said nobody's watching the state of the union anyways, defending tesla's electric pulse position

after that tweet from president biden applauding ford and gm, if we can bring it up. and tesla says they have created 50,000 jobs and double the amount that they have invested and spent together here in this country. stuart: so the president tweets all about general motors and ford, never mentions tesla and just leaves out the most successful car company in america today. i find it absolutely extraordinary, but i'll move on. susan: okay. [laughter] stuart: oil, 109 now. it had been 112 earlier. is that kind of price for oil, susan -- susan: yeah. and also that's why tesla, i think, is up in this type of environment. if you're spending $5 a gallon at at the pump, you might as well go electric which may be cheaper for you. we're also looking at some of these renewable plays. 11-year high in oil means you're going to get into clean tech, so i'm looking at can kwan quantum scape and first solar was disappointing on those earnings. but we have seen a lot of solar

panel makers doing very well in the past week or so especially with that spike that we've seen many those oil prices. stuart: okay. plunk power -- can ford motor company. i know they're submitting up into two companies, two divisions, electric vehicles and gasoline-powered vehicles. why are they making the splitsome. susan: well, that's interesting, isn't it? would you rather be in charge of the gas combustion unit or the all-electric unit? i know which one i would choose, i'll tell you that -- stuart: which one? susan: the electric part, of course. you heard ford saying they're going to expect 40% of their sales to come from electric by the end of this decade, and this split has been rumored for some time. not a spinout, which i thought was interesting, because some people thought maybe jim farley would just completely wipe out the gas combustion unit and say, okay, away from that legacy type of business. he's going to stay on, he's going to oversee the model e unit, of course, which is the

faster electric car -- stuart: he's not just the combustion engine -- susan: no, that's the president the president of international and the americas -- stuart: jim farley's on the show a little bit later on. susan: that's right. i look forward to seeing what you'll ask him because they're going to spend about -- 30 billion by -- $30 billion by the end of the decade. stuart: nordstrom, a department store, it's up 30%. is this the the return of the department store? susan: i would say it's a recovery. how well nordstrom rack, their discount unit, performed for them in the quarter. they're trying to fight back and get more foot traffic, but all in all, in terms of the raise of guidance for this year, that was impressive. stuart: that's a big gain. susan: but it's been beaten down as well, so there's a a lot of upside. stuart: oh, here we go. [laughter] amc, meme stocks, what are they up to? susan: actually, they had their best quarterly results in two

years. they already preannounced, remember, they talked about spider-man: homecoming, how well it did for them. they saw 59 million movie-goers in 8 months compared to 8 million in 2020. so four times -- stuart: yeah, but they were closed in 2020. susan: which, by the way, a recovering business is not necessarily a bad thing. [laughter] can you imagine? sue. stuart: i'll never get past the meme stock business. susan susan it has outperformed because of retail money rotating in and the crypto plays. you've got nfts and accepting crypto like dogecoin, etc. stuart: i think they're going to price different movies differently, if i'm not mistaken. we'll get to that later: susan: get get to that. -- we'll get to that. i want to talk about sofi, if we can. outperforming as well. this is what we call the online fellowship-tech type of play -- fin-tech, you know, the stadium in l.a. was named after them. i saw a record 5 522,000 new

members, and they're looking at 99 -- 900 sprkz 6 -- 906,000. and what because that mean for jpmorgan and bank of america, etc. 9? if. stuart: competition. susan: that's exactly right. stuart: only available for those who are okay with electronic banking. susan: online banking. [laughter] stuart: as we call it. susan: that was a great attempt. i loved it. stuart: draftkings, morgan stanley -- stuart: susan: just called it one of the best picks for this year. look, marketing spend has been an achilles heels for a lot of these online sports betters, and the fact that you've heard from mgm and caesars saying they're going to cut back on markets,

draftkings may not have to spend as much. new york has been fantastic so far, you're looking at billions of dollars spent in the first five year -- weeks. that will only increase. stuart: billions of dollars in the first five weeks? that is big, indeed. thanks very much, susan. what you're looking at now is the dow winners headed by intel which is up over 2%. chevron again on that list and so is caterpillar. s&p 500 winners, las vegas sands. maybe there's something going on with the gaming issues because wynn resorts is on that list as well. nasdaq winners, ross stores, intel, bookings holdings, micron and starbucks to complete the list. that's the financial market this wednesday morning. now this: ukrainian-american congresswoman victoria spats ys president biden will have blood on his hands if he doesn't do more. roll tape. >> they are bombing civilians nonstop. we have a president that talks about, talks about and doesn't do things!

you know, and what is he going to wait, when millions to die? then he's going to do more? stuart: the congresswoman is here to deliver her message coming up on the show today. president biden says no to defunding the police. roll it. >> we should all agree the answer's not to defund the police, it's to fund the police. [applause] stuart: well, that line got a standing ovation from democrats who spent the last two years demonizing law enforcement. this has been lawrence jones' story for two years now. fortunately, he's on the show a little bit later. we'll be back. ♪ ♪

sports victoria alright, so...cordless headphones, sports sports 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!

better hearing leads to a better life. and that better life... ...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life.

♪ stuart: well, the midterms have officially kicked off in texas with the texas primaries. grady trimble joins us from houston. any surprises, grady? >> reporter: stu, no major surprises, but some important

races here in texas are heading to runoffs. we'll start with district 28 between longtime congressman, democratic -- a conservative democrat, henry cuellar, who's served for nine terms and his far more progressive challenger, jessica cisneros. that's going to a runoff, as well as the attorney general's to race in texas. the current a.g., ken paxton, will face another texan with huge name recking in addition, george p. bush. in terms of the governor's race, the stage is set for what is definitely going to be a hotly contested race between current golf greg abbott -- governor greg act bot and former congressman beto o'rourke. o'rourke prove a formid if bl side here in texas back in 2018 when he was running for senate. but governor abbott says he and his party represent the values of lone star state better. take a listen. pleasure. >> texas plays -- faces a very profound we this election. do we take a left turn that

leads to more government andless freedom? a path that would destroy jobs and endanger our communities, or do we maintain the course that has secured greater freedom, more jobs and safer communities? >> reporter: so we will have to wait until may to see which way those runoff races go, stu. but surely to be a hotly contested governor's race here in texas come november. stuart: got it. grady trimble, thank you, sir. you know, we need a texan on the show. we found one, there he is. lawrence jones, texas guy himself. serious question, lawrence. has there been a shift in voting in texas? now, i'm thinking marley about the hispanic -- particularly about the hispanic vote. any trends you see? >> well, i think there hasn't been a shift in ideology. i think the ideology was always the same. i just think that the democrats have gone so far to the left that they're out of touch with many americans, and i think many

texans are just getting -- letting their voice be heard. you know, there was a trend going where they were trying to turn it blue. they still are trying to, but you can't turn texas blue with the radical policies. maybe if you were more moderate and you were a old school democrat, maybe you would have some sort of message. but what the democrats are suggesting right now, texas is just going to reject it. it's part of the reason why many folks from california, new york are moving to texas, because they're trying to leave a that type of nonsense. stuart: okay. during his state of the union address last night the president rejected, i repeat, rejected defunding the police. watch this, lawrence. >> we should all agree the answer's not to defund the police, it's to fund the police. [applause] fund them with resources and training, russ pros and -- resources and training they need to protect their communities. [applause] i ask democrats and republicans alike to pass my budget and keep

our neighborhoods safe. stuart: lawrence, do you think -- you've been covering that story at least two years that i know of. that was quite a turn-around, wasn't it? >> my favorite part of that if you look right behind the president, you see the vice president, kamala harris, and she's vis by uncomfortable. -- vis by uncomfortable. that is the democratic part right now. they're changing their position not because they think this is the right move to make, it's because the voters or have rejected this, this nonsense. that it brought crime to the major cities, philly, dallas, houston. when you look at all of -- chicago. you can go on, baltimore. because of that message, the democrats are caught in a pickle. and, quite frankly, that was really the majority of the speech whether it was crime or the border or the economy or anything like that, any flip

that the president made, it was because of the polling indicating that they were losing with the voters. stuart: precisely. that's politics today. last one for you, lawrence. you know that the president's approval rating has sunk below 40%. speaker pelosi suggests it's because voters are uninformed. watch, roll it. >> for people to appreciate what the president has done and working together with the congress, they have to know what it is. you're so blessed to be president at this time because we do have to build america better, and that's what he is doing. stuart: you don't seem terribly uninformed to me, lawrence jones. >> i mean, brother, you've got to appreciate the honesty from the speaker. i mean, that's what they really think. i mean, we've seen this tale the entire administration. first, they deny things are happening, and then they get caught about corruption or

anything, whether it was what was happening in schools, crime, the border and all that, and then they insult you and say, oh, you really don't know what's happening. i mean, this is a continuing trend with the democrats. i think it's going to backfire on them. the only thing republicans need to do is stick to the basics. they don't need to go big or anything like that. they need to message to the american people what they've already indicated which is they want safe communities, they want control back with the parent of their education, they want a secure board, and they want a business-friendly environment where we can work. they tonight want more taxes or regulations -- they don't want. all they've got to do is implement what the american people have told themed too. the democrats refuse if to do that, they refuse to pivotal though the president's words said they were going to pivot. his actions haven't indicated he's going to do such. stuart: i think you're right an on all counts. lawrence jones, everyone. >> thank you, brother.

stuart: a billboard in new york's times square urging president biden to reject russian oil. you've got to ask the question, at what cost? i'll ask the guy who put up that billboard. he's on the show later. president biden now says we need to keep our businesses and schools open. dr. marc siegel here on that next. ♪ feel stuck with credit card debt? ♪ ♪ move to a sofi personal loan. get up to one thousand dollars in rewards points. and get your money right. ♪ ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

black rock silver is bringing new life to a historic silver mdistrict, the second largest. in the silver state of nevada with multiple recent high grade discoveries, black rock is well underway on the largest silver exploration program in america. black rock, silver. i didn't know my genetic report could tell me i was prone to harmful blood clots. i travel a ton, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪ ♪ ♪ 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

♪ ♪ stuart: president biden -- i'm sorry. president biden declaring a reset on the pandemic. watch this. >> thanks to the progress we've made in the past year, covid-19 no longer need control our lives. i know some are talking about living with covid-19. but tonight i say that we never will just accept living with covid-19, we'll continue to combat the virus as we do other diseases. if. stuart: dr. marc siegel joins us. the president said, quote, we will never if accept living with covid. end quote. is he still trying to eradicate it? >> no, stuart. i think it's just political rhetoric and words and saying he's forward thinking and he's -- we're going to do the better in the battle. but the real issue is we don't have the tools still. and then he's talking about paxlovid and the therapeutics we

need which are still in scarce supply. so the answer is he thinks we need to make more progress, but we've come so far. but i think we're at a stall here. i mean, i want paxlovid for months to give to my patients, now he has a plan you can get it at a pharmacy with a pharmacist without even the doctor involve ised. but what happened to having it at home with your rapid test at home where telemedicine could prescribe it for you? none of this shows any progress. what's progress is that the numbers are down to 40,000 new cases a day which means we're actually coming out of this thing. he's always behind where we are. if he's using rhetoric from months ago which we would have wanted months ogg. two or throe months ago you and i were saying we want those they are pilot iic -- therapeutics, we don't want sick people going to pharmacies. now they're supposed to go to pharmacies. stuart: a new study shows the pfizer vaccine only 12% effective in children ages 5-11.

doctor, how many parents are going to want a jab for their child that's only 12 is % effective? >> this is very problematic. but let me el you where this came from. it's because when they gave one-third of the dose to the kids 5-31, stuart, it was -- 5-11, it was because of delta. with omicron it's not working, but it is working at keeping you out of the hospital. it's working dramatically in new york state to stop hospitalizations. it means they're going to have to offer a booster for 5-11 which parents might take if there's a lot of covid around. it really depends on how much covid there is around. it seems that that it backfired a bit to decrease the dose to one-third and then find a variant emerge that eluded the vaccine. that's the science of it. so they didn't expect omicron. you know, president biden said i don't know, we weren't expecting omicron. they certainly were definitely caught with their pants down here, by the way. and one last thing i want to add about the president's speech last night, did you hear him say that the money from the american

rescue plan, which is supposed to help us out of a pandemic, is going to be shifted over to shore up obamacare? just what we want to hear, more nanny state, right? more taxpayer dollars -- stuart: i'm with you. >> -- for what it was originally intended for. stuart: doc siegel, thanks for being here. see you again soon. i've got to do a quick check of the markets. we're down -- i'm sorry, we are up 300, recuperating some of yesterday's 500-point loss. that's the dow industrials. nasdaq okay up 92, nearly 94 points. still ahead, florida senator rick scott, the ceo of ford, jim farley, bull -- bill benefit ne. the 10:00 hour is next. you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.

plain aspirin could be will.. rin capsule is clinically shown in a 7 day study to cause fewer ulcers than immediate release aspirin. vazalore. the first liquid-filled aspirin capsules...amazing! to run a growing business, is to be on a journey. and along the ride, you'll have many questions. challenges. and a few surprises. ♪ but wherever you are on your journey. your dell technologies advisor is here for you - with the right tech solutions. so you can stop at nothing for your customers.

stuart: good morning. 10:00 eastern. look at the market. industrial the 300. nasdaq of 76. jerome powell will testify to the house financial services committee about interest rates. he says they are on track to go up but not saying how much. look at the 10 year treasury yield, below 1.8%. 179 is the yield. here's the mover of the

markets, oil at $108 a barrel. an hour ago we were at $112 a barrel. here comes energy price inflation. the price of bit coin going up $33,300. that is up in line with stocks. now this. president biden has had a terrible first year but is not changing course. 's speech revealed no new policies or initiative to tackle what ails us. inflation no change, biden thinks rising prices are the result of corporate greed or lack of competition, the meat packing industry, the wickedness of big oil. he claimed combating climate change will save families $500 a year. there was nothing in the speech that will stop the current inflation surge period. energy no change was we lost our energy independence and biden is not going to get it

back, not a word about raising production of oil and gas, think about pipelines, just same old same old about green energy into the future, lowering prices. no surprise that oil presumes to $110 a barrel, $4 gasoline is surely on the way. saddam hussein invaded kuwait 40 years ago president bush said this shall not stand with our president would not allow saddam to invade and stay. president biden said nothing about that about ukraine, no vow to get vladimir putin out, he stays and we will finance his occupation by continuing to buy russian oil and gas was that was billed as a research, pivot to make democrats competitive in november's elections. i think it failed. second hour of varney just getting started.

liz peek joins us this wednesday morning, president biden not changing course on energy or inflation. >> i don't think he has the courage of germany's chancellor who rebuilt the green policies, that took a lot of courage because that is a decade-long commitment of germany to get rid of fossil fuels as biden is trying to do. the state of the union speech is supposed to celebrate things he has done and as i thought about it this morning what could he talk about? he has gotten us out of afghanistan if they had done that well, he could have talked about ending the world's longest war, the united states longest war, covert getting better but in fact there have been more deaths under president biden than under donald trump which is income principle to me. could have talked about the

american rescue plan but americans are over the idea that spending money is good for the country. they know that drives inflation. that would have been a negative. the paris agreement looks absurd on the face of what is happening in europe, the nuclear deal with iran, kowtow to more oligarchs and the people who have all the oil. when it comes down to what has he done? he reversed almost everything donald trump did. almost all of it has gone badly, whether it is immigration policy or whatever. it is astonishing to me that he rebooted to talking about build back better, a bill that has been debunked by every credible analysis and that is what he ended up talking about. i thought it was appalling. retreading things that most voters turned thumbs down on

and -- appalling poll numbers. where was his recognition that he's not doing well? where was his humility? it was a happy fest but there's nothing to be happy about. stuart: you can't stand up as president of the united states and say real sorry about last year, we didn't do very well. >> i agree but you could have confronted the issues more aggressively. inflation, like he was checking boxes, immigration, he checked them all, didn't say anything of substance which people were looking for more last night. i was looking for more. we didn't get it. stuart: i wonder what he meant when he closed and said go get him. >> i hope it was larry putin. could he have stood up to vladimir putin in a more aggressive way, you are not going to let your invasion of

ukraine become a victory in europe, we are not going to allow that. lots of people have written about other measures about the ukraine invasion, he came up short. >> a failure if that is a regrouping, we agree on this. thank you very much. did you stay up? >> just about. i wrote this morning whatever. i can't -- i kept waking up thinking what he should have said was. stuart: see you again soon. the administration is accused of embarrassing the us. >> republican congressman elyse stefanik said we export 650 billion barrels a day, paid to vladimir putin, the call to increase production is getting bipartisan support. it is happening.

when asked if the us would resume keystone xl jen psaki says will take years to come online. the state of the union was all about infrastructure, infrastructure takes years to come online so that is a bad answer, encouraging drillers to drill, take the shackles off of them. stuart: the greens would go berserk if you tried to do that but joe manchin sat with the republicans. come on over. oil prices climbing, how high does goldman sachs think they would go? >> $115 for brent looks to be taken out, i saw 115 but the story is confusion and panic, wasn't helping the price, no sanctions on energy but some buyers are refusing to take russian oil and some are

unwilling to ship it. there is a note that 70% of russian crude, the trade is frozen and they don't want have a negative publicity of touching russian oil. they are smaller companies who don't have compliance departments. it is hands-off. the market is frozen. stuart: why not drill for our own oil to make up the shortfall? lauren: the progress of left won't let the white house. stuart: there is tremendous value in energy, you are talking energy stocks, make your case. >> talking about oil company stocks and the pipelines and to -- of the terminals that will deliver liquefied natural gas. we talk about germany undoing

there excessively green and counterproductive policies, to build more terminals to receive liquefied natural gas and who was delivering that, us midstream companies so the pipelines, terminals we talk about all the time which are great dividend growers, huge beneficiaries from this reawakening of the energy story. stuart: is that the pipeline company umi? >> yes. i love when you are paying attention to dividend growth. it is managed etf of different pipeline company so is diversified, and energy infrastructure. stuart: which financial companies should i buy? >> jpmorgan longer-term, $40 a

share from recent highs. the financial companies of the last ten years and jpmorgan trading 9 times earnings, over a 3%, it is phenomenal. then you've got to look at apollo which is a sister to our favorite blackstone company. apollo will have a 5% evident yield, down $20 a share from its fourth-quarter high. stuart: give me one more. metlife, you are looking at that one. >> metlife has dipped recently. obviously a well-known insurance company. people don't like the yield curve planning for metlife but it is priced in and over a 3% dividend yields, so metlife has come down a little.

the energy stuff has gone up, financials of come down, sometimes you want to buy a weakness. >> if it does as well for me is blackstone did. >> a little lower expectations than that. stuart: see you again soon. what is moving, continental resources is moving. >> the mail companies are not surging. except for continentals they are a record highs. we don't know any big player because of what we are seeing in russia but the path has been cleared. these stocks are at highs. zoom video can occasionally down 7%, it is 6% today, want of slower growth, downgraded today and had their price target to 170 from 350.

going back to work. stuart: i see so many people going back to the office. >> job support. stuart: or whatever. ross stores. >> take the wrong ticker. it is up 7% or 8%. and off-price retailer that surprised the market because of the mornings from t.j. maxx, things were not going to be so good. they came out with higher sales and raised their dividend and bounced a new share buyback. stuart: nordstrom at 30%. more on that later. ukraine beginning to get more support in a bid to join the european union. we tell you which country is backing them up. russia's 40 mile convoy just outside give. will they settle to avoid mass killings? i will ask ambassador dan freed after this.

flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. we have to be able to repair the enamel on a daily basis. with pronamel repair toothpaste, we can help actively repair enamel in its weakened state. it's innovative. my go to toothpaste is going to be pronamel repair.

opportunities are all about timing. so if you're turning 65 or retiring soon, it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare. call unitedhealthcare today. for a low or $0 premium, get $0 copays on primary care doctor visits,

preventive dental care, and hundreds of prescriptions. in fact, plan members saved an average of over $9,000 in 2020. you'll even get free yearly eye exams... and free designer frames. don't miss your shot. if you're turning 65 or retiring soon, learn about our wide choice of plans, including ppo options. call unitedhealthcare today. we'll walk you through your choices and find the right plan for you. catching a good opportunity... is all about timing. so, enroll today, before the moment slips away. take advantage now.

stuart: russia's war on ukraine enters at 7 today. the latest from there please. >> reporter: the sun is going down on the seventh day since the invasion began and what we see is the violence picks up with nightfall and it has been intensifying, the russians have been taking targets like television towers going municipal buildings. in the town of kharkiv to the far west of the nation, the police headquarters was hit by a rocket strike, the same town

that yesterday produced dramatic video of a giant fireball is a russian rocket struck the regional administrative buildings. subject to indiscriminate rocket fire, allegedly a cluster bomb. more than one cluster bomb dropped on the urban population. in the wake of that, reports that russian paratroopers have taken position in a town of kharkiv. to the west another shipment, with that shipment, want to become a gun. and the women and children flee the fighting and go to countries west of here, the men stay back to fight. >> no one was in this situation.

>> the national security chief says the attempt to assassinate president zelenskyy was thwarted because of a tip from a russian turncoat. allegedly a group of chechen hit squad that tried to insert themselves in the chaos of the fighting at the airport. russians tip the ukrainians off to the presence of them can identify them at the airport and according to the national security chief the assassins were all killed on the edges of that airport. stuart: dramatic stuff, see you again later. the former us ambassador to poland, dan freed. is it possible that ukrainians would settle in some way, from their current position to avoid mass killings. could use the a settlement of

some kind like that taking place soon? >> ukrainians have said, all wars end with negotiations, that is the official position, the russian terms are total unconditional ukrainian surrender, demilitarization. there is no basis for talks if that's the russian position. the question is whether the russians are serious and with ukrainians would do if they were? i don't know what a settlement like -- might look like but since vladimir putin at attack on ukraine, there's another scenario that comes to mind, winter war when stalin attacked finland, finland lost on the battlefield but they put up such resistance that stalin

backed off his threat to commune eyes, the finns lost some territory and save their country. they are proud of that resistance. that is the scenario that comes to mind. the ukrainians are fighting to save their country. i don't know if they would settle on terms other than russia pulling out of ukraine which occupies, that is their position, we shall see. stuart: reading between the lines from all commentators on this war, there seems an idea that this will be a long war with siege mentality in the big cities. is that what you see? >> it could be. there are a lot of reports of russian military setbacks. and take ukrainian territory in

the south, russian occupied crimea. the question is will ukrainian resistance on the battlefield be sustained long enough, the pressure on russia amounts from the us-led sanctions if vladimir putin decides to take a step back? so far he's talking like a man who demands total victory, unconditional surrender. if ukraine fights, if vladimir putin does a deal and ukraine loses, worst-case scenario, the struggle will go on. there will be a ukrainian resistance, civil and military. i don't think the ends well for vladimir putin's regime. the problem is a lot of ukrainians could get killed in the meantime. stuart: great stuff. direct, objective.

>> nothing great about it. stuart: your analysis is objective and that is what we like him. thank you for being with us was hope you can come back soon and analyze again for us. ukraine's bid to join the european union gaining some support. who is supporting them to join the eu? ashley: hungary is backing the bid to join the eu and the foreign minister urging brussels to put that proposal on the agenda asap. the latest report after eight european nations wrote a letter expressing support for ukraine's membership saying it deserves immediate entry. thousands of ukrainian refugees have been accepted into hungary where ukrainian president zelenskyy signed his membership application two days ago and we

heard he got an offer from the president of the european council and said after the call he feels very confident about his application to join the eu. it's not easy and under normal circumstances to join the eu. it can take ten years was poland applied in 1994, was accepted in 2004. it will be interesting to see if under these circumstances ukraine is given membership to the eu. stuart: it is symbolic, ukraine joining of the west and rejecting the east. thanks. check those markets. j powell began his testimony before the house financial services committee. j powell has not said by how much.

have a look at this. it is a billboard in times square, new york. it calls on president biden to stop buying russian oil. new york state lifting the mask mandate today joining other states, president biden taking credit for it all. ♪♪ there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable, cabenuva is the only complete hiv treatment you can get every other month.

cabenuva helps keep me undetectable. it's two injections, given by a healthcare provider every other month. it's one less thing to think about while traveling. hiv pills aren't on my mind. a quick change in my plans is no big deal. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions, post-injection reactions, liver problems, and depression. if you have a rash and other allergic reaction symptoms, stop cabenuva and get medical help right away. tell your doctor if you have liver problems or mental health concerns, and if you are pregnant, breastfeeding, or considering pregnancy. some of the most common side effects include injection-site reactions, fever, and tiredness. if you switch to cabenuva, attend all treatment appointments. every other month and i'm good to go. ask your doctor about every-other-month cabenuva. ♪ ♪ feel stuck with credit card debt? move to sofi and feel what it's like to get your money right. ♪ ♪

♪ ♪ move to a sofi personal loan. get up to one thousand dollars in rewards points. and get your money right. ♪ ♪

stuart: still showing green on the market except the nasdaq which is turned south. the dow is up 260. look at amc, the movie theater chain, they will charge more to see the batman. they are testing a variable pricing model meaning new releases could cost more than other films in the same theater at the same time. it is unclear how much more tickets will cost for those new movies. the stock is down to $18 a share. other stocks are moving, citigroup is down 3%. lauren: they are having their first investor day and years. james fraser is sitting new targets for the company over the next 5 years and investors

are skeptical same air exposure to russia is at $10 billion. stuart: what is the story on rivian. >> they are raising prices 20%. if you preordered electric trucks you are affected. they are not grandfathering un. them are canceling orders. stock is down 12%. stuart: you place an order and the price goes up 20%. warner: they say we have to deal with inflation too. stuart: did you read the fine print? dollar tree down 3.6. lauren: lower earnings, taking the long time to get goods from asia through the port into distribution centers so they are having supply chain issues. stuart: let's get away from the market in the war and covid. new york is lifting its statewide school ask mandate.

i don't think this applies to new york city schools. >> reporter: new york city will wait until next week, the mayor looking at case numbers in hopes that they remain low. if they do you will look at new york city ending school mask mandate on march 7th and end vaccine requirements for indoor businesses. boston will lifted mask mandate including gyms, restaurants on saturday but this does not apply to boston public schools which will take of the issue at a later meeting. the white house is unveiling a new strategy, president biden had a preview in the state of the union address. >> president biden: covid 19 no longer need control our lives. some talk about living with

covid 19 but tonight i say we will never accept living with covid 19. we will combat the virus as we do other diseases. >> the cdc showed how boosters or the waning effectiveness of covid vaccines, half of booster eligible americans have gotten them. vaccine safety monitoring a booster in adolescents shows the most common side effects are mild and temporary and myocarditis, a rare but serious and concerning temporary hard inflammation occurs at a lower rate following booster shots than a dozen second dose is. we are talking a small number, 11 cases for every 1 million adolescent boys receive a booster shot. stuart: in the state of the

union address president biden took credit for the reopening of schools. bill bennett joins us now. does the president deserve any credit? >> no. let me comment on the state of the union. i prefer mister zelenskyy as a president. this was a fraudulent speech, fraudulent beginning to end. if you don't follow what is going on in ukraine you would think given what the president said how we muscled up, got everybody together, got it all tied up you would think we were shoulder to shoulder and had deterred the russians and they had stopped. they only slowed down and are taking ukraine apart. it was fraudulent to suggest something wonderful happened as a result of his leadership and one other point.

made in america, how about america -- how about the keystone pipeline which cannot produce anything the russians are doing, fraudulent. stuart: i think -- >> schools -- stuart: failure to address energy and american energy production and failure to come to grips with inflation. that is a major failure. >> correct me if i am wrong but i read keystone produces more in one month than the russians produce in a year and we are buying russian oil. this is beyond belief. it is incomprehensible we would do this. stuart: i want to leave time for this. ukrainian college students we see on video making molotov

cocktails. imagine this generation of american college students fighting for their freedom like that? what a juxtaposition of freedom fighting. >> three pictures come to mind interesting for our culture. women and children first. the men's day to fight but i haven't heard any woken us about that was women, members of parliament, this was a boost for the second amendment, why people need to have the ability, i can see american college students doing it. i hope they would do it but can't tell you i'm confident they would given what they are coming out believing. i hope it would be true. stuart: what is happening on college campuses, a very sad story. you know more about that than we do.

>> any time. stuart: see you later. coming up, elon musk took a jab at president biden after the president praised ford and general motors but never mentioned taylor. ford's chief executive will be on that was the number of refugees fleeing ukraine topped 800,000. we will report from poland on the resettlement effort after this. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further.

♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care.

♪ ♪ 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 stuart: the price of oil at $107 a barrel. earlier it reached $112 a barrel. russian oil sales in america last week fell to 0. in other words, the supply has

been constricted and that is part of the reason the price has gone up to 107, $12 a barrel. 870,000 refugees have fled ukraine going into neighboring countries, that is where connell mcshane's, poland. this is europe's largest refugee crisis this century. how will officials deal with it? >> reporter: there is talk in brussels of work visas for ukrainian national back at last two years and could be approved tomorrow. there is more talk among european officials, the likes of the imf and world bank at large. all of that is in the works. they know they have a crisis but the way they are dealing with it is the grassroots level. we are a makeshift refugee camp, the largest city close to the ukrainian border, working with volunteers as many people,

young families with children come off these buses and drive 20 minutes from the border to this camp and all these people waiting as they come off the bus holding signs and taking them all over europe, another one going to different european city so all of this is happening now. every single one of these have an individual story, i will show you what we shot a short time ago about a family from kyiv, she gave us permission to talk and the 13-year-old was telling us what it was like in kyiv before he left. >> explosion, rockets and soldiers. >> a lot of soldiers, did your family come or did you leave

someone behind? >> in ukraine. >> reporter: my dad is in ukraine. we hear that over and over. mothers, sons and daughters, dad saying back. they have a crisis on their hands. stuart: thank you very much. let's move on to this. 90 day fiancé star, the lady on your screen, ukrainian by birth but now lives in the united states. a 90 day fiancé star. you have family in ukraine. >> thanks for having me here. my family are fine right now. one of my friends was driving

away, fairly close to kyiv and a drive for two days but finally close to the rest of ukraine. they don't know what to do or what will be next. stuart: are they ready for a long period of warfare. are they prepared for that? >> they are not prepared for anything. they were not expecting it. a few hours of sleep. stuart: do they talk about giving in? >> i have some friends in ukraine just like me.

they say they will go and fight for this country. this war makes all ukrainian people come together, they are ready to have the country back as it was before. stuart: what would you like to see president biden do? >> honestly i would like president biden to do something more, sanctioning russia, works on russian people who have miserable lives. need to do something more than put in sanctions. the sanctioned doesn't work. we don't have time to wait. people are dying. something needs to get done right now. stuart: it is unlikely we would involve american troops in ukraine or fire shot at russian troops, hard to know what's president biden can do at this point. any suggestions other than sending our troops? >> honestly, i don't really

know. stuart: thank you for being on the show. we feel for you and your family and friends and relatives in ukraine. please stay in touch. let is no any new developments. the pentagon thinking about sending troops to eastern europe and. do we know when they will go and how many will go? ashley: very good questions was the pentagon not providing details. the biden administration has committed 15,000 us troops to eastern europe to bolster nato's defense capabilities. now the issue is whether to send more troops on a rotational basis or permanently. the mission is to deter russia while keeping nato safe and secure. several european countries are

becoming more vocal about asking the us for more american troops to be stationed in their borders, some permanently. fearing moscow may attack other countries. the logistics and commitments to be decided upon as yet, no details released. stuart: my opinion is we should increa military and defense budget immediately. you've got to pay for this. those markets showing a solid gain for the dow, nasdaq is up 44. oil last count $107 a barrel. toyota beginning friday they will suspend production of their factory in russia. they will stop exports from other parts of europe. straight ahead, britain announced new sanctions against russia, have they ruled out direct confrontation with russian troops? i will ask britain's ambassador

to the united states. look like a split in the republican party. senator scott is here to respond. their only friend? the open road. i have friends. [ chuckles ] well, he may have friends, but he rides alone. that's jeremy, right there! we're literally riding together. he gets touchy when you talk about his lack of friends. can you help me out here? no matter why you ride, progressive has you covered with protection starting at $79 a year. well, we're new friends. to be fair. eh, still.

at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential

for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217

stuart: solid gain for the sound industrial. up 400 points. j power saying you can expect accorded at a rate hike, not a half point. oil, we have the price at $107 a barrel, down from 112 earlier. that is the state of play. senator rick scott republican from florida introduced an 11 point plan to rescue america and here's what senate minority leader mitch mcconnell had to say about it. >> not part as part of my agenda a bill that raises taxes on half the american people. sunset social security and medicare within 5 years. that will not be part of their republican agenda. we will focus instead on what the american people are concerned about. inflation, energy, defense.

stuart: that is mitch mcconnell rejecting the plan by the gentleman on the right-hand side of the screen, senator rick scott from florida. you are standing by your plan despite the criticism. have you split the party? >> i put out a plan, 11 steps to rescueamerica.com or text 200004. we got to turn around this country. look at our borders, the inflation. the woke left is taken over this country. i'm committed. i am a business guy and i want to turn around the country. as an example we've got to make the tax system fair. i will put my record against anybody. i cut taxes 100 times as governor in my eight years which i want a plan that is fair was the working-class paying income taxes and sales

taxes and property taxes. retirees paid a fortune. i want to make sure it is fair. we've got billionaires, the woke left does they want more government, these people can work. it has to be fair. stuart: why put the plan out now when you nuclear mcconnell doesn't want any other plan, he wants to put out his own plan come are you with mister trump on this because mcconnell is not? >> i with voters? i talk to voters and they tell me they want to know where we are going. this next election will be about the ineptitude of the biden administration. i've had three races. people want to know what you are going to do. i put out my ideas. stuart: this is a challenge. you challenged mitch mcconnell and the establishment

republican leadership. >> i think we ought to have a real conversation about where to take this country and i hope people are saying what should we be doing? i put out my ideas. some people like him. some people won't like him. i want to make sure when you pay into a plan you get medicare back. this postal bill will raise the cost per day without paying in. that doesn't make sense. why do that to medicare recipients? stuart: in 2024 if donald trump runs or governor desantis runs, who do you support? >> that is a long way off. we will see what happens and who runs. we are focused on getting a majority back in 2022. stuart: are you running? >> absolutely not. i will be running for

reelection. stuart: thanks for being with us. always appreciate it. still ahead, alfred ortiz, ford chief executive jim farley, ukraine ruins and we are trying to ruin russia. that is not a positive situation, that is failure. that is my take next. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary,

obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. i'm mark and i live in vero beach, florida. my wife and i have three children. ruthann and i like to hike. we eat healthy. we exercise. i noticed i wasn't as sharp as i used to be. my wife introduced me to prevagen and so i said "yeah, i'll try it out." i noticed that i felt sharper, i felt like i was able to respond to things quicker. and i thought, yeah, it works for me. prevagen. healthier brain. better life. at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services

to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪

..

>> it is astonishing that he reverted to talking about build back better. i thought it was appalling. where was his recognition that he is not doing well? where with his humility? it was like a happy fest but there's not much to be happy about. >> the voters rejected this nonsense that is about crime to the major cities. any flip the president made was because of the polling indicated they were losing with the voters. >> i'm concerned about the economy because of how bad

inflation has gotten, worse, i thought it was difficult to avoid a recession sometime next year. >> this is a stock pickers market, plenty of opportunities in stocks that are so much on sale. everything is great fundamentally but the market is heavy. stuart: 11:00 eastern time wednesday, march 2nd. it is ash wednesday. it is up 400 points. j powell testifying in congress says we will get a quarter point hike in interest rates in march. look at the price of oil. we have it at $106 a barrel. it was $6 more an hour ago at 112. it is 106. the 10 year treasury yield, 1.83%. bonds and oil and stocks today. now this.

i find it hard to believe what the russians are about to get away with. they are destroying ukraine, demolishing its cities, this is 21st-century urban warfare. every parent who sees those women and children in bomb shelters for days on end is surely disgusted and angered by this brutality in the world is watching. we can't get vladimir putin out and we didn't act fast enough to stop him getting in. we are inflicting financial pain on the russian people in the hope they will be so impoverished they will throw him out. ukraine is ruined and we are trying to ruin russia. increased military spending now. china threatens the pacific, russia threatens europe. democrats won't like it but voters want security. of the germans can do it so can

we. second. immediately drill more, frak more, open and build pipelines was we have to raise our own fossil fuel production. we are not going to be buying oil from russia much longer. we need to fill the gap. build back the military, billback energy independence. we may see this happening again. third hour of varney straits -- starts right now. mark tepper joins us. looking at the market. left-hand side of the screen up 440 on a dow industrials. you say it is time we use tools to fight rising inflation. what tools are they? what should we be doing? >> they have to stay the course. may be because of the war going

on in ukraine that will cause the fed to scale back, their hiking plan and the fed has a dual mandate. we can talk about propping up the stock market and climate change with a dual mandate which is price stability and full employment. we are at full employment. price stability is not there. we are experiencing runaway inflation and if the fed does not continue on the path most people expect them to go on his hiking rates they will use a ton of credibility. stuart: if they lose a ton of credibility, so what? does that mean inflation continues to rage, gets worse? what happens? >> inflation is an transitory despite what j powell told us, it is long-lasting, structural. higher wages, higher rents,

higher oil prices, build back better. those are all inflationary. despite what president biden said, paying higher wages is not the solution to inflation. it is inflation itself. if the fed doesn't do what they need to do we experience runaway inflation for the foreseeable future. we are looking at inflation expectations 5 years down the road continue to go up. most people believe this is going to be a long, long inflationary period and then you couple in slowing growth, europe may end up in a recession. that will slow our growth. it is not a good conversation. stuart: if i have any extra cash, why not put it in a bank or a money fund. absolutely dead safe. won't lose any either. >> that is cool, go for it.

as investors, if we try to measure "risk and reward" there's a lot of risk but absolutely no reward if you leave your money in the bank. you have to generate some sort of return on it if you want to keep pace with inflation. it could mean us stocks, gold, you are concerned what lies ahead for the market. it is always a good inflation hedge. stuart: you can buried in the backyard which is attractive. we will see you again soon. let's get back to politics which listen to what vice president kamala harris said when asked about war crimes. >> we are not going to let up but no question this is vladimir putin's war.

we are very concerned and monitoring it and we are aware of is any intentional targeting of civilians we are looking at the fact there may be a violation of international law. stuart: been dominich is here to comment on that. does he think vladimir putin is doing people by mistake? that the impression i got. >> kamala harris has been an abject failure as vice president in that position and continues it when it comes to ukraine. i am sure you saw or heard the remarks she had the other day that sounded like she was talking to the american people as if they were children about the ukraine conflict. it does not do anyone any kind of good to see someone a heartbeat away from the presidency especially the president as old as president biden.

dealing with these issues in such a naïve and rookie kind of approach. and it is really important right now, republicans have an opportunity to be the serious party, the one that is dealing with the issues in front of americans, putting significant proposals in front of them in order to be assessed. democrats are trending more from my perspective into an unserious perspective divorced from what is going on in the world. kamala harris reinforces it every time she goes out. stuart: do you think rick scott has split the republican party? that is what i was getting at in the interview because mcconnell rejected his plan.

>> mcconnell is making a mistake. if you look at rick scott's planet is largely something every republican can agree with and most voters will agree with. mcconnell is too cautious operating under the assumption that republicans will win by default and shouldn't put anything out there but the lesson of the past year is republicans particularly in the state of virginia, the state in which i reside, when they leans into a lot of political issues such as education, standing up to the teachers unions, it only accrued to their benefit. republican sending the message if you elect us we won't just keep changing who is in charge of the committee. we will be pushing policies in front of president biden, things that he wouldn't like to do or in comfortable for him to

do. a lot of republican voters and independent voters would be in favor of given the state of the union address that seem so divorced from what they see affecting their pocketbooks and talking about it every night at the kitchen table. stuart: watching the state of the union message last night which was laying out the second year of a president's presidency i didn't get the impression much is going to change if anything. >> it was such an odd address which i say this as a former speechwriter myself, i got to work on one state of the union under george w. bush but i've seen a lot of them. it surprised me they left an opportunity on the table to adjust their policies in a number of ways. the way that sticks out the most is on energy. they could have shifted on that in a way that would have brought them more in touch with the american people, more into the middle when it comes to

their politics and yet continued to concede things to the green new deal left in a way that doesn't just hurt us at the pump but also hurts us when it comes to foreign policy as we are seeing in ukraine and russia. if you open up those pumps, get the fracking going again that would make a world of difference not just for the american consumer but the tools we can use against vladimir putin. stuart: it seems so obvious, drill baby drill. see you soon. lauren has movers starting with pfizer. lauren: this comes out of the state of the union. he announced test to treat. 1-stop shops in hundreds of cvs and walgreens can you get your free covid test. and a free covid pill, that comes from pfizer, 1 million pfizer pills available.

stuart: stock is at $47 a share. lauren: they were excluded from this plan. nike is making purchases unavailable in russia. lulu lemon is higher in some retailers today. it is because of nordstream's bullish forecast. stuart: netflix going into a game? lauren: down one person. the stock market is much higher. they are buying a finished gaming company behind the walking dead. they are pairing video content that is hot with james. it is a new strategy. stuart: thank you. dancing with the stars, save in poland after getting trapped in ukraine, encouraging russians to stand up and protest against vladimir putin. this billboard in times square

told the president to ditch russian oil and start drilling in america. we will talk to the man behind the billboard. the brutality of vladimir putin, neighborhood destroying three people dead after a rocket attack in ukraine. russia says they are ready for more peace talks but ukraine might not show. a report on that from trey yingst 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. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

stuart: call this the jay powell affected. he will propose and support accorded point gain interest rates. the market loves it. up goes the dow, the nasdaq up

356 points and jay powell is doing it. time to take a look at this billboard through times square. every morning at 4:00. i see that in front of me. to stop buying russian oil. time for american oil, drill more, pay less. the president of the job creators network joins me now. take this seriously. if we do reject russian or stop buying at the price of oil goes up as of the price of gasoline. are you prepared for that? >> thank you. good morning. the removing us from energy independence, energy dependence and we are buying $20 million of russian oil and if we do

stop this, in the next 3 or 4 months, it could be a moment or period of time in which we see gas prices go up but we can't keep doing this was we need energy independence and stop buying foreign oil especially from russia. stuart: you make a good case. the price of energy goes up when you produce less of it. explain to me why this president refuses to raise fossil fuel production or open pipelines? >> we don't understand, job creators network, we advocate for small businesses across the country. energy prices, inflation is impacting small businesses across the country like nothing else is. the supply chain, inflation is out of control for small businesses. we have to bring costs down, we

don't understand why the president yesterday in the state of the union address didn't say we are going to stop what we did before in terms of reverse and reverse our policy on the keystone pipeline and bring domestic production back online in the united states. they lost their jobs, lost to businesses, cancellation day one, and opportunity -- stuart: you know why he won't do it. the influence of the greens. that is what is going on. >> time for the president to be less scared of aoc and progressives then a vladimir putin. chuck schumer is afraid of being primary did. the democrats have to put america ahead of anything else and their political futures need to set aside and be second to the interests of america.

we are dying from inflation, it is in his control and we urge them to reduce energy policy. stuart: i see it every morning. there it is. i am sure -- >> the kind of diplomacy. stuart: i don't think they do. thanks for coming back on the show. the markets, look at them go. up 560 on the dow. this is because jay powell will support accorded point hike in interest rates this month. a quarter point. a week ago everybody expected that. it is a quarter point and the markets love it.

ukraine is accepting dogecoin. they expect a $35 million of crypto so far. toyota will suspend production at the factory in russia but they are not the only ones making a move against russia. what is honda doing? ashley: honda is suspending exports of its cars and motorcycles to russia. the japanese automakers a difficulty shipping vehicles and making payments our side of the reason for the suspension. honda does not have factories in russia. it sold 1400 cars in financial year 2020. toyota suspending work at its russian factory starting this friday. mazda will stop exports of auto-parts to russia and at last report nissan continuing

to operate in russia but that could change any time. those are the latest from japanese automaker's. stuart: always from russia. dancing with the stars alum maxine chinovsky fled ukraine. of the estate? ashley: he made on a train to warsaw, poland. he described the train station is insane. posting on his to graham he described being packed into a sweaty, claustrophobic 3-person train cabin with 11 other people. it was sardines, the dancer was trying to escape to warsaw after france told him it was a dangerous journey. he went 36 hours without sleep, standing the entire time so as not to take up additional seated but when he arrived he

did make that happen as well. >> the whole world is against it. denying the situation. he lied to his people for a long time. ashley: he described that journey as out of a movie and said he does feel guilt for escaping. that is one person's story. the dance room choreographer. stuart: quickly, i want to show you the markets. this is a development in the last half-hour, a powerful rally in progress. i've got to repeat this. you have jay powell testifying before the house financial services committee saying we

will get accorded point rate increase in march, not the half point so many people were expecting going easy and that is why you have a rally on wall street. russia say they are ready for more talks with ukraine but president zelenskyy says they will not talk unless russia stops the bombing. what happened to that convoy? was it still stalled? >> it is still stalled. the campaign will continue as a bloodied and violent night because the russians are pushing forward from northeast and the south, they claim they've captured the southern part of ukraine, major territorial victory. look at this video from the second-largest ukrainian city of kharkiv there was it

overnight with russian missiles, police headquarters on fire after a russian strike, seen the total destruction more widespread as russia ramps up on the city. russian paratroopers support the ground offense of in this area. other images show heavily damaged residential areas of kharkiv despite claims they are not targeting civilians was the images speak for themselves. further west more evidence of russian forces striking residential homes as they try to demoralize the american people as they pledged to fight. in the of, the ministry cut down 3 russian fighter jets overnight. you can see people bracing for more checkpoint set up every block, pharmacy with a line around the block. we were at a tv tower hit with a missile strike, 5 people died as a civilian toll continues to rise. stuart: thanks for being here.

much more on varney ahead including the british ambassador to the united states. we will be back. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo

shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel.

better hearing leads to a better life. the smart, fast, easy way and that better life... ...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life. stuart: you are looking at a rally, does up 170, that is the

rally and what the fed has been saying, susan is following it. susan: jerome pauli thing inflation will peak and abate this year and if it persists we would be prepared to move more aggressively, at the next meeting in the future which is hawkish and inflation should be coming down meaning of 25 basis point hike, 50 might be off the table. stuart: the market has accepted the judgment that inflation will eventually come down and for the short term a quarter point. the market accept that. susan: he went on to say, has already done most of the work for the federal reserve. markets have reaction appropriate to the assessment.

we entered, and 10% correction territory and the s&p. might not be so hawkish given we've entered the decline for the broader market. stuart: he is committed to price stability. he said that a few moments ago. the dow is up 627. susan: the digital currency, there needs to be congressional action on crypto which some have taken as a positive if there is more legislation. stuart: glad you were here to read the lines lose the president is headed to wisconsin to push his infrastructure plan. garrett tenney is in superior, wisconsin. >> reporter: this is about the midterm elections and selling the american people on what the white house accomplished.

president biden narrowly won the badger state in 2020, home to one of the most closely watched senate races in the country, this visit touting the infrastructure lies the challenge given the ongoing russia invasion of ukraine, to take further action to target the russian energy sector which would lead to higher energy prices around the world. we spoke to folks here about that and everything a person said they were willing to pay more to punish vladimir putin or help ukraine. >> i am willing to make a don't know about -- to make that sacrifice. it is our duty to help this country. >> i don't mind to pay extra for gas. if it helps someone else. >> russia is in my eyes part of the devil. vladimir putin is not in his right mind. the rest of the country, world,

is going to have to sacrifice to get it taken care of i believe. >> reporter: the white house is using the strip for public awareness about the white house's accomplishment this is invite only as am not a single person we spoke to was aware the president was coming. stuart: thanks. president biden vowed to rebuild america. watch this. >> president biden: when we use taxpayer dollars to rebuild america, we will do it by buying american. we will buy america to make sure everything from the deck of an aircraft carrier to steal highway guardrails is made in america from beginning to end. stuart: i need an expiration of this. jason chaftfez is here to

describe it. >> reporter: that the reality of what president biden is doing. look at the energy sector, importing 700,000 barrels of oil, better producing it in the united states of america. if you create these military vehicles why don't you have them fueled with american energy? the president shutdown not just the pipeline but the drilling. everybody knows this story. he is not pro-american energy. to put real jobs into the economy. when you have a wide open border and millions of illegal aliens coming into the country where do you think those people are going to go? they will take jobs that could have been american jobs. stuart: i think that speech was a failure.

is not changing course on any of the problems we face whether it is the inflation, the border or energy. i call it a failure. >> i totally agree. the president is going to wisconsin to tout a bill that became law four or 5 months ago. you normally the president is advocating a course change from a new piece of legislation, and that has become law and was done so in a bipartisan way. it is great we are doing infrastructure but the president doesn't have solutions to the biggest problems was i was so offended by some of the things he said about immigration, about vladimir putin, he gave the most kudos to the people of ukraine which hats off and i totally agree with but but there was nothing new in there

that is going to tackle inflation. stuart: thanks for jumping on to the program. we understand you were busy elsewhere but appreciate it, and 50,000 ukrainian refugees arriving in poland every day. officials preparing for what could be europe's largest refugee crisis of the century. ford has suspended operations in russia until further notice. the ceo is on the show next. and it's easy to get a quote at libertymutual.com so you only pay for what you need. isn't that right limu? limu? sorry, one sec. doug blows a whistle. [a vulture squawks.] oh boy. only pay for what you need. ♪liberty, liberty, liberty, liberty♪

every business is on a journey. and along the ride, you'll find many challenges. ♪ your dell technologies advisor can help you find the right tech solutions. so you can stop at nothing for your customers.

i didn't know my genetic report could tell me i was prone to harmful blood clots. i travel a ton, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪

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: the dow industrials up 587 points, up 75, the nasdaq up 168 points. a big rally on our hands. the 10 year treasury yield has gone up to 1.83%. quite a big move in bonds.

we are up 183, that is a significant move indeed was the price of gold, 19, 20 and announce, it is down despite the inflation indicators. bit coin is doing well, $44,500. the price of oil reached $112 a barrel coming out is $107 which i presume energy price inflation, natural gas on the upside, 3%. the price of regular gasoline is $3.66, up another $0.04 and rising rapidly. california $4.87 for regular. ashley is with us. ashley: to oil. there are analysts who believe

jpmorgan says 120 is doable. others went as high as 150. in july of 2008 when crude hit $147 let's hope we are not hitting in that direction was with lack of direction from the president about not opening the spigots there is real concern on these prices a. stuart: $107 a barrel. is getting up there. the uk will not fight russian troops in uk. karen pierce is britain's ambassador, have the brits ruled out direct confrontation of any kind with russian troops?

>> nato, a defense of all liens, not putting military troops on the ground in ukraine. that is the nato position, one should never say never but that's what the prime minister said and his colleagues at nato agree. stuart: has the war changed the world in the last week and if so how? >> i think it will have lasting effects. this is naked aggression of the sort that hasn't been seen since the second world war and it happened in europe and the significance of that is europe has many security agreements design after the second world war and the balkan crisis in the 90s. those were designed to stop this sort of thing and provide outlets and channels for

security interests to be discussed and debated and its tanks have rolled into ukraine. the international community doesn't continue to isolate russia and bring home the cost of the enormity of what russia is doing i would be worried for stability and security elsewhere. russia is isolated and under great strain from all the sanctions. stuart: do you think the west should stop russia's exporting of oil and gas to europe? as a way of really hurting russia's economy? >> it is one of the measures on the table but the difficulty with doing it in totality you scribble european economies and world economies and a proper

transition. we need to reduce our dependency on russian hydrocarbons. and and a more fortunate position than others, germany stopping nordstrom 2, finding ways to diversify supply. these are things that all need to happen more quickly. stuart: thank you for joining us. thank you. ford has suspended operations until further notice. the ceo of ford, jim farley on the show next. i'm so glad we did this.

i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones

do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

as a small business owner, your bottom line is always top of mind. so start saving with comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. so boost your bottom line by switching today. get the new samsung galaxy s22 series on comcast business mobile and for a limited time save up to $750 on a new samsung device with eligible trade-in.

stuart: ford has announced they are suspending joint-venture operations in russia. jim farley is ford's ceo. congratulations on suspending operations in russia. i want to talk about the company splitting into two divisions from electric vehicles and combustion

engines. why are you making the split? >> you can't compete against tesla if people work 9 to 10 on electric cars would you need the focus and expertise to be world-class. we tried to do both and are making a commitment to go to 2 million electric vehicles by 2026 in four years. to do that we need a dedicated focused team. stuart: i believe you are concentrating on the electric vehicle side of things. you have of competitions from tesla, you are number 3 in electric vehicles, clear out front. you are chasing tesla basically. >> we just started to compete. this is a new initiative. we just came out with a huge

hit, they are commercially available now. we have 200,000 orders. the e transit, globally the most popular van in the globe as we speak, last year was a ramp year, we sold in america and europe and added a new plant in china, we would go to 150,000 units for f 150 and the e transit coming on. tesla has been added a while. we are ramping up production but this is what we do. stuart: you are putting most of the capital available for investment in the electric vehicle side, that is the stress? >> we will spend $50 million not just on electric vehicles

but all of them embedded in electrical architectures so we can update all the vehicles, or on the ice side too. 50% is nice. it is extremely profitable business. the ice products that are very profitable, the bronco, the mustang, the maverick, these are brand-new fresh vehicles. not everyone will go electric vehicle. if you have a horse trailer in electric vehicle won't work for you. a lot of these ice products are not going to go electric, most of our capital, going to a digital electric future. stuart: president biden praised ford during the state of the union speech.

>> president biden: ford electric -- investing 11,000 jobs across the country. gm is making the largest in history. $7 billion, creating 4000 jobs in michigan. all told, 369,000 manufacturing jobs created in america last year alone. stuart: he didn't even mention tesla. i think you know why. ford and general motors i unionize and tesla is not. is that fair? >> don't know what is fair. ford has the largest employee base of any company in the united states. we bet on the united states, lower percentage of production in canada, mexico than any of our competitors and we build more and export more and that's why he mentioned it. we doubled down on tennessee and kentucky with electric

investments which i can't talk about to the and the others or what goes through the administration's mind was we will number one and keep it that way. stuart: i'm told forward stopped tesla from naming a car the model e and you've been sitting on a trademark for years. is that true? >> yes, absolutely true. we have a car called the model t that started mass transportation for everyone and democratize car ownership. we are protective of names like model e. we knew we would use it. did we know we would create a separate business model called model e? i don't know but we protect it and that is why we named it that way. stuart: we do appreciate it and wish you the best of luck. look at the time. 11:55, time for the wednesday trivia question was what is the

earliest date ash wednesday can be? february 4th, february 8th, february 12th, february 16th? the correct answer after this. it can be a smaller house, but a bigger nest egg. a goal to work toward, or the freedom to walk away. with 200 years of experience, personalized advice, .g . jp morgan wealth management.

♪ ♪ 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 stuart: all right. here is the question, what's the earliest date ash wednesday can be why not bring in ash webster to make a guess. what have you got, ash? >> you would think a day named for me i would know it in a heartbeat. i don't. not being funny, would it be february 4th? i have no idea. stuart: reveal the proper

answer. this is february 4th. >> ah. stuart: this is complicated stuff. >> i'm listening. stuart: here it is ash wednesday is 46 days before easter sunday because lent is 40 days long but sundays don't count and easter sunday is always the first sunday after the first full moon after the spring equinox. that is why it is that particular date? you got that? of course you do. >> my head hurts. stuart: of course not. my time is up. neil it is yours. neil: when you go back in time jesus heard how we fuss over the dates and exact time, do you think he would say that i don't think is obsessing too much. that is good stuff. i have no idea and i'm catholic. stuart: thanksgiving the third thursday in november, case closed. every year. neil: keep it really simple. i hear you, stuart. thank you very, very much we are following inflation. it is the buzzword of the day. we certain