the meantime, put the xli on your screen, that's the industrials we talked about value all the time, i think that might be where the best value is because value is extremely expensive so we're starting to have another crazy wild hour of trading and of course you know by now it's only one person you want guiding you through and that's liz claman. liz: you know what we're calling this charles? what happened wednesday. charles: [laughter] liz: pretty impressive those number, oil prices are too , gushing to 11-year highs, they just closed for the first time at a level that hasn't been seen since 2011. that's not making a dent on wall street's mood after yesterday's major sell-off we've got a broad rally in progress at this hour, 29 dow stocks flashing green and even as fed chief powell signaled rate hikes are still coming in his semi-annual testimony before congress we do

have this rally going on but powell also warning about the russian impact on commodities, we are breaking it down with our traders coming up, and we are just seeing this hit the tape. breaking news, citigroup ceo jane frazier says the bank has 200 people on the groundworking desperately to get them out, the situation there is "horrific." and she's not alone. other big names from boeing and exxon mobile to mcdonald's and k fc, employees stuck on the ground. how are they going to get out? we've got the ceo of the company that's been working night and day, to extract corporate executives out of the war zone. we will ask him how he does it, whose he getting to do this , how is he getting into ukraine to save these people and what his staff is seeing on the ground. sofi technologies is so winning after an upbeat revenue forecast surprises investors but how much did super bowl lvi and the venue that had sofi splashed on its roof play a role?

wait until you see , there's currency to that we'll add ceo anthony noto of sofi, but first fox business alert boeing and airbus shares on the move to the upside airbus up 5% boeing getting a push of a nearly 2%, both aerospace giants have now cut all russian airlines off spare parts, plane service abdomen and maintenance from russia airlines as russia continues to attack ukraine. president joe biden announced the u.s. government will ban russian aircraft from american aerospace. the russian hostilities and the global response as countries & companies unify in denouncing russia for its unprovoked invasion of ukraine is actually having a surprisingly positive effect on travel at the moment. even as travel industry trend site forward reports this afternoon that every one travel booking to russia has been outweighed by six cancellations, away from russia, booking holdings and airbnb are popping here by 4% apiece. u.s. airlines all in the green

but we wanted specifically to highlight alaska airlines, air group shares unharmed at the moment up about half a percent by its announcement late yesterday that it is suspending its interline relationships with russian carrier aeroflot. let's get you the fox market alert, stocks higher after across-the-board we've got the dow up 625 points, as federal chair jay powell does something extraordinary during his testimony before the house financial services committee. he said outloud, exactly how much at the fed meeting in two weeks, he will recommend interest rates should be raised, and that number is a quarter of a point. amazingly that did not spook the horses. investors selling safe haven treasuries, the 10 year yield moves inversely to the price was already climbing but now it stands at about 1.85% remember this time yesterday the yield was sliding 11 basis points to as low as 1.68%, as russia began pounding civilian structures in

ukraine's population centers, because it's ground war is not turning out to you vladimir putin wanted it to. so with the head cheese at the federal reserve now making no secret of his intentions for march 16 and the announcement, fed funds futures show a 97.8% probability of a quarter point rate hike, but powell was hammered by congress today for leaving rates too low for too long, and in turn stimulating inflation across-the-board. >> how sweeping do you foresee the ripple effects through the u.s. financial system? is there an effect on us as those actions take place? >> with big actions like this , there may well be unintended and unexpected effects, and hard to say what those might be. in the economic sphere, you're seeing not directly to your question, but we're seeing, you know, concerns over palladium and neon and corn and wheat, shortages of those potentially.

liz: corn barely pulling back but wheat and palladium speaking and we should look at oil hitting an 11 year high, right now, we do have crude up $8.62 in the regular session, now here is where we closed. we closed oil at about 110.60 that was a high today, high today was 110.60 but we closed around where we are right now. look at heating oil, distillates are jumping on news that distillate inventories dropped to their lowest level since november of 2019, so we do have heating oil up 14% right now, so these sizzling energy prices we've got that pushing the transports, which include trucking, railroad, package delivery names, right now up about 2.6% that's the leader for the major indices so let's get our floor show traders in on the conversation kelly polcari, and kenny wise berg, kenny, sending markets into a bear cave but this time the markets are absolutely fine with it, teddy called this and now that there's

clarity, we now know, so, investors say i'm comfortable with the quarter point, but what's the inflation trade right now, kenny, you first. >> listen, i think the market is comfortable with it and i thought after the russia thing that 50 basis points was really off the table, because it was too much uncertainty but i think you have to be very cautious, because inflation is not calming down in my mind. i think we'll have inflation right through the end of 2022 as much as i'd like to see it come down i do agree with some members of congress and you and i have had this conversation , they've waited too long. they should have started this back in mid 2021, the kind of tapering and the balance sheet reduction and the rate increases, but they didn't, so now, we're off to the races and now with this crisis happening, that's only going to add to the inflation like powell said. he's worried about corn and wheat and energy, of course he is, because they waited way too long, and so they think you have to be cautious and you have to stick in my mind, i'm sticking to the value trade still so i'm

sticking to the consumer staples , sticking to financials, sticking to well energy has really gotten out of whack, i own it, i'm not chasing it but consumer staples and financials are still negative on the year and places where i'm going to find value. liz: yeah, consumer staples, can you really go wrong there? you know, they maybe out of favor for a moment or two but they are staples for a reason. people are going to buy that gallon of salsa every once in a while. teddy wise berg there was an interesting point, during the federal reserve testimony of jay powell today where one congressman, you know, not in an aggressive way simply asked, what have you and the federal reserve learned from this situation we find ourselves in now, the inflationary spiral, and you know, jay powell got a tiny bit tense and i noted this because he said well it's not over, we're still learning from it and the main focus is not to do a retrospective. well, it kind of is. we don't want to see this movie again, do we, teddy, and so therefore, we know there's going to be a quarter point hike.

will that be enough to start taking down inflation? >> first of all, liz, i don't know about you, but i've never witnessed or heard a politician ever admit that they made a mistake, so and i think, i think even though kenny is right, anybody that, you know, that was in the market realizes that the fed was behind the curve. that was obvious to everybody six or nine months ago but that's yesterday's story. now we have to deal with the reality of today, and i think the reality of today simply is that the fed basically confirmed, they're going to raise interest rates 25 basis points at the next meeting, you know, there was a lot of rhetoric it was going to be 50, so we've taken a lot of unknown off the table. it's not going to be 50, it's going to be 25 and perhaps it'll be 25 bumps for the next five or six meetings. i mean, we simply don't know, and i think it's a mistake for any of us to try to figure it out, but rather just try to

deal with the cards that we're dealt when we're dealt those cards, and so clearly, today's rally is a direct result , i think, of the fed taking a lot of that uncertainty off the table about is it going to be 25 or 50, so we have a bit of a relief rally in a market that's dramatically over sold, and i think the real bargain, perhaps was not today but was yesterday, for whatever reasons they just completely slammed the financials yesterday , all of them, insurance, banks, and i think it's quite possible that those are the great trades as we looked to, because in a rising environment of interest rates, where we have a steepening yield curve, clearly, the financials, banks in particular, insurance company, anybody that will benefit from an environment of higher rates for whatever reason and we're clearly going to get those higher rates, those two sectors absolutely will benefit. liz: all right, we're looking at the winners right now, caterpillar, intel, among the nasdaq winners we've got

micron, ross stores, bookings holdings we already talked about those guys, fox corporation, advance micro device there's are bargain hunters diving in teddy, kenny great to see you thank you very much. 50 minutes before the closing bell rings fox business alert lordstown motor shares are in absolute reverse, plummeting after general motors announced it has dumped its stake in the electric vehicle startup following an undisclosed lock up period, lordstown is actually off its earlier lows, but it's now a $2.52 stock. the auto giant sold its 7.5 million shares of lordstown which represented a less than 5% stake, the announcement comes following lordstown's dismal production outlook and widening losses it disclosed in its quarterly report on monday, for its part, gm is moving higher by 4%. look at rivian, the fellow electric vehicle van maker down 12%. tanking after the company announced it will raise prices for two of its, yeah, there's

inflation for you, barely two minutes old and they are raising their prices of two of their electric truck models by up to 20% to help offset higher costs, rivian says the price hikes will also apply to pre-orders investors are obviously not happy. but look at ford. big move here, it is up on the news that it has actually decided to split into two separate businesses. now this is not a spin-off. it's a split into two separate businesses. one for its electric vehicles and the other for its conventional gas-powered engine cars and trucks. ceo jim farley telling fox business today the move will help ford better complete with rivals in the ev space. >> compete against tesla, if people work from 9:00-10:00 on electric cars, you need the focus and expertise to be world class. liz: ford is getting an upgrade from a buy to a strong buy, ford 's february sales of electric vehicles went absolutely crazy in february

increasing 55%. and from cars to casinos shares of casinos that operate in china 's macau region, las vegas sands and wynn resorts are topping the s&p on reports china is looking to relax its zero covid policy. the country's strict approach to containing the virus is seriously dented business in the entertainment and gambling industries. shares of las vegas sands up a full 10%, wynn up 9.5%. the sofi surge investors piling into shares of the mobile personal finance website after a fourth quarter beat, sofi stands for social finance, but as shakespeare would say what's in a name? especially when you slap it on the stadium that just hosted the super bowl. sofi ceo anthony not ox is up next on the stunning bump the ballgame is giving to its brand, closing bell 48 minutes away the "clayman countdown" is coming right back. the dow holding on to about 599 points of gain.

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liz: so, what we're going to do is continue to interrupt and just let you know as breaking news headlines hit the tape. we now have royal caribbean

international deciding to cancel all cruise visits to st. petersburg, russia on all summer 2022 itineraries the stock is still up about 2.5% at the moment royal caribbean no more summer 2022 moves to russia. sofi, let's get to that sofi is so fly in this final hour of trade, shares of the fintech buoyed by a narrower than expected fourth quarter loss, sofi lost a penniless than wall street expected. that was $0.16 loss came in at $ 0.15 but $285.6 million revenue blew away the $279 million estimate. sofi, a favorite with millennial s also reported record new members in the quarter, gaining 523,000 for a total of 3.5 million sofi customers. that's an 87% year-over-year gain. so, is profitability around the corner and what'll get them there let's bring in sofi ceo anthony noto. great to have you not only is

sofi a one stop platform for personal finance you got your bank license approved in january you need to start wearing a three-piece suit but you're a banker now too but how many quarters before you start to see it really be accretive to your numbers? >> chris, our cfo last night, laid out this sort of trajectory and the impact of the bank, really impactingq 2 in the first instances in terms of the savings we have on our loans , as well as our ability to have lower cost of funding. inq 1, we did launch the bank and we now offer checking account with really an unprecedented interest rate. we're offering people 1% under checking, no minimum balance, no restriction on your cash, we give you your paycheck two days early if you do direct deposit with us in addition to that no overdraft fees, no fees whatsoever you can pay from your phone, your debit card, even do person to person payments, so it's all the flexibility you want with your cash, but we're giving you interest on top of it , and we're giving the big

banks the traditional legacy banks for their money, we'll start to see that add to our deposits and add to the growth of our checking and savings accounts in q 1 but the real economic benefit will come in q 2 and rest of the year. liz: this swift situation, swift of course is the society of world interbank financial text ing messaging, and allowing people to enable trades and money transfers, obviously now, being a part of the banking industry, you've got to be aware of all of this and what's going on with ukraine and russia. do you have ukrainian and russian members as part of sofi? >> we do not today. we operate sofi and the bank just in the continental, in the united states. we do have an invest product in hong kong that's our only international market that we operate in as it relates to the sofi products and services themselves. we do a technology platform, gal lileo, debit and ac h processing as well as banking as a service

and operates in the u.s. as well as mexico and colombia so no operations in ukraine or in soviet union. liz: it really really is a brave new world, and it's rather fascinating and also a little disconcerting to know how the financial world is so tied in, but clearly, as these sanctions come out against russia, this is the third day in a row that the moax, the moscow stock exchange has been unable to open so we're clearly on this as well but back to sofi, talk to me a little bit about what you're now really being able to offer these customers, that you believe nobody else can >> yeah, i think four years ago when we articulated a strategy of wanting to be a one stop shop as you alluded to for all your financial services needs people didn't really believe it was possible to launch that many products on a mobile device and really fund all of the growth that that would require in the technology investment. four years later we now have all those products, they're scaling

incredibly well, we just exceed ed $1 billion in revenue for the first time, full year eb idta profitability at 30 million and looking at 50% growth into next year for $1.5 billion of revenue and $180 million of positive ebitda so the strategy has really come to fruition and now it's showing up in both the financial metrics but also the metrics of our member base as you mentioned over 3.5 million members and over 6 million products at this point, so it's really come to light and we're acquiring people and taking a second and third product which is driving efficiencies in our marketing. liz: anthony, i found it so interesting during the super bowl that a lot of the sports casters kept saying sofi stadium thinking it's sofi, what did having sofi slapped on the roof of sofi stadium now for the super bowl all those aerials and all of those drone shots do for your

brand recognition? >> sofi stadium is a key part of our strategy to become a household brand name, a trusted brand name, and we really benefited in the fourth quarter from all the games that were on national television, as you mentioned the awareness of sofi through sofi stadium really help ed increase unaided brand awareness and as your unaided brand awareness increases it makes all of your marketing more efficient, the click through rates on offers are higher, the responsive rates and different types of direct mail, and other efforts that we have with members that may not have been familiar with the name become a lot more responsive, and so we did the stadium licensing deal to drive unaided brand awareness and become a household brand name that really paid off in the fourth quarter and we mentioned in the call last night we hit a record high level of unaided brand awareness days after the super bowl so its been an important strategic decision and really paying off. liz: i can see why. sofi, not sofi, everybody, anthony good to see you thank you very much. >> thank you, liz take care.

liz: you too. we've got this breaking news, a lot of it. president joe biden has now been set to deliver remarks at the university of wisconsin superior , in his state of the union address last night, joe biden called out u.s. corporations in the fortune 500 that paid zero in federal taxes, while everyday americans send what they owe to the irs, as biden calls for a minimum 15% tax rate for big business, charlie gasparino is up next on how wall street is taking the presidents edict. closing bell 37 minutes away, the dow now up 615 points, the s&p up 85 but it is the russel 2000 now up 2.5% that's beating the majors. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further.

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>> last year, 55 of the fortune 500 companies earned $40 billion

in profit and paid zero in federal taxes. liz: joe biden saying its got to be more fair, but does wall street think it's fair? let me guess? no, charlie. charlie you've been talking to some people on the street. charlie: they just glided right through that part. you'd think wall street be like all upset. i remember when barack obama gave that famous interview to 60 minutes where he said that he's going to, you know, wall street is a bunch of fat cats, he doesn't want his policies to help the fat cats, i'm paraphrasing but you remember that whole thing. wall street was angered because they supported obama, they thought he was a good president, they thought he was like on their side. no one cares about this , and i'll tell you why. what we have now, and you know, listen, this is not a statistically significant survey that i did. i just spoke with c-suite types and what do they think is going on and i'm pulling up my notes right now.

the bottom line is they see biden increasingly as a lame duck president. they don't believe, listen, he obviously has some power when it comes to our engagement in ukraine and economic sanctions and things of that nature, but from an economic policy standpoint, they increasingly see him lame duck. most of his very radical appoint ees are being held up in congress, sarah raskin is being held up at the fed, he didn't mention her by name but he mentioned he would like his fed nominees all being held up because republicans think they are too radical, gigi sohn could be held up going for her nomination, could get through the commerce committee tomorrow, but there's one problem. the republicans might not show up so they don't have a quorum, so his economic policies being t hwarted, even with democrats not only in control of congress, and 50/50 senate where they aren't in control via the tie breaker of kamala harris , then wall street is saying, this guy, the republican

s, are going to win in mid-terms, they are going to take the house, probably take the senate. he's an isolated guy economic ally so when he says stuff like that, again when obama said it, it enraged them, they realized they made a huge blunder in supporting obama over mccain heavily as they did. the fact that he said this , it barely registered today. i think more of them were worried about whether he wanted, they were looking for some signs maybe he'd increase domestic oil production which he's not. liz: that was a missed opportunity last night. he did not bring up or offer an olive branch, it was said on fox news last night and i thought it was really quite on point where he said, you know, that was his chance to offer an olive branch and say not just to oil companies, but to american people, we're going to bring back the rosnef.f, start pumping more, it may not be permanent but let's bring the

price down. charlie: because the price comes down you can further ratchet up the sanctions on russia without worrying about their supply. because they add to the global supply and thus -- liz: well macron of france is saying this afternoon the french have to stop and get themselves from russia oil. charlie: everybody is saying this but the u.s. is not acting so that was a missed opportunity on one end. on the other end he said we can't defund the police which i lot of people thought was pretty good. liz: he said defund, we have to fund the police. charlie: but here is the real issue and wall street looks at this completely sort of, you know, it's black and white to a certain extent and they see this as a president that is in consequence shall from an economic standpoint. he can't get anything through, congress is changing, his approval ratings won't bounce from probably the levels or not bounce much. he's a lame duck, and it's almost sad that within the year, he became a lame duck but he

became a lame duck because he moved so far to the left and the country didn't want leftism after the summer of love and cities burning, they wanted -- liz: he didn't strike a leftist tone last night. he struck a somewhat centrist tone in many regards. charlie: what he didn't do was reverse any of the policies but it's either near nor there. listen these wall street firms have a lot riding on where his policies are going. what they are telling me is they don't see anything major coming out of his white house. they see the economic choices being stymied and held up and a gop congress basically foiling the rest of his agenda, and they see him being a pretty in consequential president for the next three years. we'll see if he turns it around, but the odds, according to the odds makers these guys are against him. liz: thank you very much. what started as a sprinkling of corporations ostracizing russia has now turned to a flood, as

american and european companies shutter their offices, factories and subsidiaries in both russia and ukraine as missiles fly and russia continues to attack, executives are scrambling to safely get their employees out as the war now in its seventh day turns even bloodier. those companies are turning to the ceo of global guardian, the former green beret has already extracted 3,500 clients from the region since the crisis began. how does he do it with russian bombs raining down? you're about to find out, closing bell is 27 minutes away, he's going to tell us. new projects means new project managers.

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eastern european nation last wednesday. toyota said today beginning friday the auto maker will stop production in russia until further notice, and then you have oracle tweeting that it has now suspended all operations in the country. exxon-mobile saying it's ending its involvement in a large oil and natural gas project in russia, and leaving about 4 billion in assets on the ground in russia. exxon-mobile joins bp and he'll which already announced plans to end their russian investments, but as multi-national companies cease operations, they still have employees and their families stuck in the embattled region. enter u.s. firm global guardian which works 24/7 to extract corporate executives and employees out of these global hotspots. it has evacuated some 3,500 clients from large american companies in ukraine to-date. joining us now with the ceo of global guardian u.s. special forces veteran dale buckner. dale, brave stuff you guys are

doing. we'd love to know, how do you do it? we have seen the video of bombs flying, we have seen that who in their right mind be driving on the roads there. how do you pull these people out >> so, liz, there's no magic to it. there's no secret. this is good communication, good prepatory planning, if you will, and then adjusting to the environment. there are places, like kyiv, that we cannot go to the center of the city. we can service our clients to the south and to the west, so providing an exact pickup location, an exact location, consolidating personnel, bringing all that together, in a very clear and concise way, in every 24-48 hours in that cycle insuring that our clients are well- informed, they have an expectation, they know what the journey will be like and they're prepared for the elements. really, that's what we're doing. liz: are these former military people you have doing this?

>> they are ex-military, ex-law enforcement primarily, and then they are just average bus driver s and average van drivers that are under the guidance of that former military law enforcement agent that is running the vehicles, if you will. liz: can you give me a sense, dale, of an example of who and how you pulled somebody out of ukraine in the last let's just say 48 hours. >> yeah, so we ran nine mission s this morning. we're closing in on 4,000 extractions. simply put, we had nine convoys for lack of a better term go to a designated location this morning, a very easy example was in odessa. we picked up 52 corporate executives or employees from a tech firm. we placed them on multiple buses , with family. we drove them to the romaine yonkers border took about four and a half hours to arrive.

it then took 11 hours to cross the border, into romania where we have a romanian set of buses and then we drive them to the capitol city and place them in hotels. that is a very simple template, although it is full of, you can imagine, with a series of danger s and uncertainties in each one of these missions so the outline i gave, very simplistic. what makes it complicated is the twists and turns of having to get around roadblocks, dealing with curfew, most importantly having to deal with the threat of conflict and bombings and soldiers. liz: odessa, i mean, we have heard that the russians are desperate to get odessa because it is on the water, and it is an important port. i mean, don't they encounter tanks and tell me, because we know that for example, kfc has 1,000 restaurants in russia, 49 in ukraine, papa john's has restaurants in russia,

mcdonald's has 108 restaurants in ukraine, nike has got 12 stores in ukraine. those are in russia, but you know, they do have operations that are extraordinarily in a very bad position right now, i would imagine. many of their employees are locals but you're pulling out some of these executives and their families, but how do you maneuver around what's going on in a place like odesa? >> yeah, so it is true, 24 hours ago, you can look at open source intelligence briefs in the media. odesa was struck from russian ships just in the last 24 hours. it inherently, it did get more dangerous. we anticipate it's going to get much, much worse so there's a series of cities as i stated, we will maneuver around those pockets of russian soldiers and artillery and tanks , there are places we can't go in odesa we anticipate we are going to be able to operate there for about the next 48-72 hours and then we might see russian forces start to

encroach and then we're going to have to change routes and ebb and flow. we're at a point day seven going on day eight now where we had freedom of maneuver a week ago that we simply don't have any more, so this is all about patience. we evacuated almost 600 clients out of afghanistan that took three and a half months. we're not thinking in days and weeks right now. we're thinking in months, as this ebbs and flows and we're going to adjust to the threat and everything that comes with the conflict itself. liz: dale it sounds kind of mercenary for me to bring up money and i know you don't name the names of companies who employ you, but what kind of companies are these, and what's the charge? >> so it is the fortune 1,000 as you know it and large european countries, companies, primarily. if you are a global guardian annual member, we are charging standard rates for a combat zone , so for example, to give you a sense of this , a 50 pack

bus is costing anywhere between $12,000 to $18,000 depending on where in the country, what the threat is, and the distance of the evacuation. if you're a non-global guardian client, we are charging a mobilization fee and then the charges for the style and capacity of the bus that we're providing. liz: well, bless your people on the ground there. we hope everybody stays safe and you can't put a price on somebody's life. dale, thank you for the good work you're doing i could talk to you forever by the way so we'll definitely have you back. >> thank you, liz i really appreciate it. liz: dale buckner of global guardian. while global companies rapidly cut the cord with russia, the u.s. and europe are cutting off the financial blood and the oxygen supply to the country in a bid to thwart vladimir putin. we will be speaking to former ub s america ceo robert wolf about whether the strategy will work swiftly. closing bell, 15 minutes away,

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liz: we're seeing a volume jump in shares of spotify, spotify at the moment, if you can just punch that up, is down about six -tenths of a percent here, spotify announcing it is closing its office in russia. again, we've seen a lot of this throughout the hour. we do see right now that that's pretty much the news at the moment, it's just closing its office in russia. shares are down as i said now, about 1%, so that is one name that is actually being affected. we've seen a lot of these names, nike, apple, not get hit at all today on news that they are

stopping merchandise sales and hardware sales in russia, but at the moment spotify is not having the same experience. let's get to electronic arts. just a couple of hours ago it announced it's going to be removing all russian and also all belarus national and football teams from its fifa and nhl video games in order to hoe support for the people of ukraine. also from the soccer world russian oligarch roman obramovic h, says he will fell top premier team, chelsea football club, he and other oligarchs may face sanctions, some already are as russia wages war on ukraine and the sale of chelsea will go to benefit all victims of the war in ukraine, which is certainly interesting, considering he's russian and bff 's with vladimir putin. good luck to him for saying that the u.s. is actually also on board in finding new ways to go after russia's wealthiest after

country invaded ukraine. task force collecto capture the name of president biden's brand new enter-agency task force designed to enforce sanctions on russian oligarchs and freeze their assets in foreign countries many who derive their wealth from their close ties to vladimir putin. this as the european union announced the removal of seven additional russian banks from the swift messaging system including the country's second- largest bank now, vtb. former ubs america chairman and ceo and fox news contributor robert wolf knows just a little bit about swift, i would imagine , robert. this has become common knowledge for a lot of people in the past seven days something they didn't know about but this vast network where 11,000 financial institutions use it to conduct all kinds of trade, or financial moves, et cetera, but you know, how important is it to any bank? >> i mean, it's how we communicate, it's gmail meets

venmo so there's no funds in swift but everything else around it from the messaging to the communication, so if company a wants to do business with company b, company a tells their bank, that bank tells company b's bank & company b bank tells the company and that's how you do commerce. for the most part, this is how commerce is done, and without it , you're seeing what's happening. russia is being isolated, they are blacklisted, being choked from all types of commerce, and which is why they can't even open up their market. the ruble is getting annihilated you've been doing an amazing job , you know, discussing it, and i know, liz, that everyone is worried about well what about oil embargo. let's be clear. if you're not willing to be a counterparty of the bank, and you're nervous that the shipments may or may not get there because you could see a trade embargo, and an oil

embargo, why do you think anyone is even buying russian oil right now? there's a reason i would tell you that russia's being choked in every which way, and i think one thing you mentioned earlier, you know, spur bank which is the largest bank, is not on the , it's able to use swift but their stock is down 99% in the london exchange. liz: it's going to collapse isn't it? you're a banker, you would know. >> so you don't need to have a nail in every coffin to know that you're already six feet under. so i would tell you russia, from a financial perspective, from a capital markets perspective, if i'm a russian citizen, i'm saying like what just happened in the last week, where all of a sudden we are black balled by the world and i think what we hope is ukraine comes out on top , and democracy wins. liz: we're showing russian-based etf's rtx, which is the vectors russia etf, hit a brand new

all-time low, its never been this low, robert. so can these things survive, and how long before it stops putin, because they're still bombing. >> yeah, well, there's two different things here. you're talking about, you know, a war and i think putin has something a screw loose in his mind that he believes he can take over the democracy and we're going back to the pre-cold war days. that being said, that's very different from what i would say finance capital markets, commerce, and he's really being shut off, and i would tell you that a few days ago, the u.s. was waiting for where saudi was going to be and the e mirates and turkey and other areas and you're even see ing them come on board. liz: exactly and switzerland. you know, your former bank, right? >> it only takes time, i mean, i look at when i was running ubs as president of the investment bank, us and

deutsche were the two largest banks in russia and that was during the russia crisis, and, you know, you need the capital markets. you can't have a run on the bank you need to exist, and they're cutting themselves off. similar to what iran has done. liz: you know, we've just had some headlines from tony blinken , the secretary of state, and he is saying that putin's 630 billion-dollar war chest reserve vaporized because he can't really access it. jamie dimon said yesterday that he foresees some unintended consequences from all of these sanctions. now, you know, somebody like me says too bad. we're going to have to endure a little pain considering what the ukrainians are doing, and how russia's jumping in there with its iron fist, but president biden just had his state of the union address last night, and there were 96 or so standing ovation applauses where he was interrupted, only a

couple of them involved the republican side of the aisle here is one of them that had to do with the police it's getting a lot of attention we wanted our viewers to hear it but i need you to tell you where else he could have built some bridges in president biden: the answer is not to defund the police, it is to fund the police. [cheers and applause] fund them. fund them. liz: you can see the republican senate and members of congress there all standing but there weren't that many of those moments, were there? >> you know i would probably phrase it a little differently. i would say there were three aspects to the speech. the first one was patriotism and democracy revolved around ukraine. everyone applauded that. that brings us much more together than we had been two weeks ago. i believe the second one was much more on what i would call a

reset. one, we do have inflation. two, we have to look at immigration reform? three, of course we have to fund the police. and kind of a reset on "build back better" which i actually think makes a lot of sense. we should look at post-pandemic needs, elder care, child care, the cost of health care. i think the third part is when we work together. liz: okay. >> the truth is there are a lot of places we can work together and i think it was very well-received. the one thing that rears its ugly head every day you've been talking about is inflation. we don't have a good answer to that today. that is what everyone wants. >> good to see you, my friend. thank you very much. closing bell ringing in three minutes. the dow was edging towards correction territory yesterday. today the session high, a gain of 718 points. we're up 587 at the moment. lots of green on the screen. we're well above the flat line.

henyon and walsh asset management head, kevin monn. at a time crude oil is going to the moon, natural gas, heating oil, distillates, rbob gasoline, people are looking at it from the standpoint. larry: i'm a consumer, what do i do, you say look at it, you should be and invest tore in those companies. which ones. >> look at those in previous rising rate hike cycles. those sectors include surprising to some maybe, information technology, energy, industrials and utilities. so four companies that we like in those four sectors from the most recent series are "morningstar" select trust here at smart trust include from information technology. cisco systems with a yield of 2.7%. energy sector, chevron corporation with a yield of 6.3%. from the utilities sector duke energy with a yield of 3.9%.

finally from the industrial sectors you have defense giant lockheed martin with a yield of 2.4%. >> yeah. >> looking at companies with strong balance sheets, attractive dividends have against rising interest rates. liz: cash flow, imagine that. profitability. federal rechief powell, said expect it, two weeks from today a quarter point rate hike. how are you advancing when you look at your portfolios saying what do i need to do? >> we never felt the fed would be as aggressive as fed. four or five 25 point rate hikes. meaningful progress reducing balance sheet. all should combat surging record levels of inflation. liz: good to see you. great to see you, as much. kevin monn, henyon and walsh asset management.

s&p gaining 81. they are both about to snap a two-day losing streak. russell charging higher by 2 1/2%. transports up 2.6% on a big day for the bulls. [closing bell rings] that will do it for the "claman countdown." thanks for joining us. a lot of news. we appreciate you rocking and rolling with us. the "claman countdown" is over and "kudlow" is next. ♪. larry: hello, everyone, i'm larry kudlow. welcome to another special edition of "kudlow." we're focused on ukraine and the president's state of the union speech n a few moments we'll be joined by republican house leader kevin mccarthy and after mr. mccarthy we'll speak with west virginia democrat senator joe manchin. a little bit later in the show we'll speak with iowa governor kim reynolds who really did a bang-up job last night delivering the republican rebuttal to president biden. and t