fight as they did with afghanistan as they were getting people out of afghanistan that our government abandoned. and we see that they're also doing that here, so i'm excited to see what's going forth, and i hope that our viewers will definitely be generous in their donations. maria: yep. all right. thank you so much, dagen mcdowell and gianno caldwell. have a great day, everybody. we'll see you again tomorrow. "varney & company" begins right now. stu, take it away. stuart: good morning, maria and everyone. let's see if we can make sense of this. another record high for gas and diesel prices and a very big rally for stocks. let's start with this, no joy for drivers. the average price of a gallon of regular gas is now $4.25. we have never paid more for a fill-up. diesel also setting a brand new high, $4.88 a gallon. all of this means that inflation will continue to run hot, and workers will continue to see their wages eroded.

look at the market rally. lots of chatter this morning that the big selloff has gone far enough, time for a rebound, time for some dip buying maybe. it's certainly a bounce from yesterday. the dow's going to be up close to 500 points, s&p up 67, and look at that nasdaq go, 280 points to the upside at the opening bell this morning. we always have to say it, we have no idea how it's going to close. oil holding around, what, $118, 117 a barrel this morning. bitcoin is back above the $40,000 level, 41,9. interest rates up again. we're getting close to the 2% level, 1.90 is the yield on the 10-year treasury as of right now. now, reaction to the president's energy speech, it's pouring n. widespread approval of the ban on russian energy, astonishment that he won't take steps to raise our own energy production. and what does it say about america's standing in the world when our president begs tyrants and terrorists to produce more

oil but won't drill here? we'll take you to kyiv on day 14 of the war. the fighting is getting closer to the capital, and we'll bring you the latest on those jets that poland wanted to give to ukraine. why is the pentagon drag its feet? if as usual, a jam-packed show, wednesday, march 9,2022. "varney & company" is about to begin. ♪ ♪ stuart: all right, i'm going to start with the inflation that is now so apparent to everyone. one more time, new records for gas, $4.25 on average, up 8 cents overnight p. look, you can't miss this. it's the inflation that you can see on street corners. i want to get a sense of how fast these price rises are coming at us. lauren, how much is -- let's start with this, how much in the last week? lauren: 50 cents in one week, and this is just the start of

it. reuters is reporting that the white house is starting to look at scenarios where oil tops $200 a barrel, and that might explain the pivot we have seen from president biden. he's now using the phrase putin's price hike to blame russia for inflation, and this is leaving americans in complete shock. stuart: but he won't say anything about drilling some more. >> this is the first time in my life i feel like $6.95, this is the regular price. >> it's it's like a dollar up, i might not be able to eat lunch the rest of the week. >> when you need gas, you need gas. lauren: we have the gas. the white house has 9,000 unused drilling permits. it takes 140 days to approve a drilling permit. the state of texas, 2 days. there's too much red tape. the financing now is dependent on climate considerations, and, you know, i was reading one analyst who says it's a miracle u.s. production is even

happening with all of these handcuffs. stuart: yeah, well put. that's the theme throughout the show. lauren: arguably since january of 2021. stuart: drill, please, drill. let's get back to that big rally. dow's going to be up about 500 points at the opening bell. nasdaq up maybe 300 or close to it. look who's here, shah gilani is with us. [laughter] that's right. i've forgotten you were there, shah. i do apologize for that. this rally,s is it going to last? >> let's hope so, but i don't think it will, stuart. markets have been oversold. there's been a lot of shorting, and a lot of the shorts are going to cover every time the futures look like we're going to see see an up day. there's a lot of retail investors that have wanted this last 10% dip. that's a positive. but unless we get institutional investors behind them bidding up some of these stocks that have been sold off, this is probably a dead cat bounce.

however, that being said, if oil comes down, if we see some dumping in oil speculated, there's been a lot of speculation in futures in oil pricing, in the hard commodities. if we see oil come down 10, 20%, the oil's going to stream 3, 5, maybe 7% higher in a matter of days. barring the price of oil coming down, i think any rally is probably an opportunity to sell positions. if. stuart: do you think there's a possibility of a recession here this year? >> there's not one in sight now. that doesn't mean we won't see perhaps the second half the possibility of a recession into the second half. and it's really a function of the trajectory of the price of oil and commodities if they continue to spike higher, yes, we will see a recession. again, barring that, i think the economy can handle oil at the $is -- 110, maybe 120 for some time, but if we get above that, we start to see demand

destruction, i think we're going to head into recession territory. of. stuart: give me one stock that you are buying today. >> rio tinto. i love the miners, a fabulous dividend. the stock has performed well, continues to perform well in an inflationary environment. stuart: you're not going back into those big techs at this point, are you? >>ing looing for an -- looking for an industry point, absolutely, because they are all on sale. stuart: got it. shah gilani, thanks very much, indeed. see you soon. now, vice president harris is on her way to poland as of right now. [laughter] i don't mean to be the sarcastic, lauren, but is she looking for the root causes of the war in ukraine? lauren: no, but she threw herself into a diplomat ific crisis is. officials say the trip is meant to reaffirm u.s. commitment to nato, but then there's the debate over the mig 29s. poland's offer to send those soviet era jets to the u.s. base in germany so that they can be

sent to yaip, yeah, that idea was rejected by the u.s. and this morning poland is saying any supply must be done jointly by nato countries. so rightfully, poland is worried that putin would attack them next, right? and that mig offer, some would say, might have been their way of forcing the u.s. directly into ukraine. but this is something that the vice president will have to address while she's in poland are. stuart: diplomat ific difficulty, i would say. thanks, lauren. now this: the "wall street journal" reports that the leaders of vape a ya and the united arab emirates would not take calls from there pride opinion. the white house tried to set these calls but couldn't do it. mercedes schlapp is with us. this is not a good sign, mercedes. what does this say about america's standing in the world? >> look, there has been one blunder after the other when it comes to biden's foreign policy initiatives and, quite frankly, the mere fact that you have saudi arabia and the uae

basically taking a call from putin after declining a call from the president of the united states,st it's very telling, it's very harmful to our foreign policy goals. and, you know, we have to remember that when it was president trump, he actually traveled to saudi arabia, developed this relationship because they had an enemy in common, and that was iran. and so when you have this now-biden administration, president biden calling saudi arabia a pariah, that in and of itself really crypts a huge -- creates a huge problem. and we, sadly, need saudi arabia at this point because they're the ones that are going to be able to pump more, millions of barrels of oil to help, basically, reduce gas prices in america, and now that's not happening either. stuart: as he's turning to venezuela run by the tyrant nicolas maduro who has released a couple of americans. evidently, there's a deal coming here. again, what does that say about

america's standing in the world when our bigs -- begs for oil of a communist dictator? >> for those of us who have been involved in working at the white house and working at those at the state department and the defense department, you're puzzled. you can't understand why this administration will, would basically align themselves with venezuela, with pushing forward with a very flawed iranian deal that the russians a are part of instead of saying what can we do to invest in america, what can we do to help our energy industry to cut regulations, cut taxes, insure that we can have more oil production here in the united states. instead, stuart, bind wants to make sure that a -- biden wants to make sure that we buy a bunnen of electric vehicles because he thinks that's going to solve the problem. this is how messed up these leaders have been here in this country, and i think that the american people totally see through it. stuart: i'm going to leave it right there, mercedes, because i

agree with you. see you again soon. mercedes schlapp, everyone. thank you. i'm going to put some companies up on the screen, big names, actually. they are all pulling out of russia. i see mcdonald's on that list. yesterday you reported that mcdonald's was staying. what changed in. lauren: the pressure. so they were on the list of not just companies, but iconic american brands that were still in russia. about face, now closing their 850 restaurants there, and that's significant because of the size of mcdonald's. now you have the other holdouts -- starbucks, coca-cola and pepsi koh -- doing the same, and then you have the historic symbolism of all of this. i ebb when mcdonald's first opened in moscow in 1990. 30,000 russians line up, right? a taste of america. they a got, i think, 27,000 applications for, like, 600 jobs. everybody wanted it. this marks, does it mark the end of an era? stuart: i'm sure it does, but

look what the streets of moscow will look like. no mcdonald's, starbucks closed, pepsi, coca-cola, all those ads, not there. lauren: and not a russian official is saying those assets, they're going to try to nationalize. and the question is, do they link up with china to take over everything that the west has abandoned, because we're morally opposed to what putin's doing. stuart: very good question. got it. all right, back to the futures market. look at this -- look at it now, up 350 for the nasdaq, up 650 for the dow. that is a rally, folks. hope it holds. nearly 2 million people uprooted, forced to flee their homes as russia invades. it's europe's biggest refugee crisis is since world war ii, and yet one tv ht is making it all about race. watch this. >> let's face it, the world is paying attention because this is happening in europe. if this were happening anywhere

else, would we see the same outpouring of support and compassion? stuart: she makes the point that ukraine is largely white and christian. we'll have more on that, believe me. poland says it's ready to give dozens of its fighter jets to ukraine. problem is, they want the u.s. to make the transfer. the pentagon has rejected the deal. i'll talk to ukrainian-born congresswoman victoria spartz after this. ♪ ♪

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♪ ♪ stuart: russia agreed to a 12-hour she'sfire in some --

ceasefire in some ukrainian cities. benjamin hall, i watch your report early this morning. you could hear missiles flying real close to you whilst you were reporting. the fighting getting real close? >> reporter: it is, indeed, stuart. those were actually outgoing missiles, air defense missiles only a few hundred meeters away. the air raid sirens, and then suddenly -- we didn't know there was a portable system, we're not sure, but these three missiles went up within about a half hour, and soon after reports of a russian su-29 jet having been shot down in kyiv. we don't know if they're connected, but very possibly. this city is under siege now. there is hand to hand fighting in some of the districts, and the ukrainian officials are saying they're not sure how much longer they can hold back the russian advance. although they've been doing very well so far, the russians just keep coming, and another armed convoy of about 200 is said to

be heading their way. the head of the dia yesterday said out of the u.s. he thought keefe would be totally encircled within a day or two, and then that happens, there are only about 10 days-2 weeks of supplies left, and that is one of the big problems here. we've seen putin do that in mariupol, kharkiv, he cuts it off, and with the dead of winter now approaching, temperatures around 20 degrees, that in itself can be a killer. people here are bracing for that. they've been talking for a while that this is the city that vladimir putin most wants to take. it discuss appear that's going to start happening soon. you can hear jets, shelling constantly out in the background or presumably in the surrounding areas in some of the districts there. gunfire as well out in the distance. so, yes, on multiple fronts now this city appears to be coming under attack, and it just remains to be seen how long before that heavy around

tilley -- artillery starts. because of javelin missiles, he's resorted to bombing indiscriminately, urban centers, residential buildings, and that's why we see the death toll rising. president zelenskyy says 50 children so far have been killed, 2 million have fled. all of those numbers are likely to rise very quickly, and we'll be here covering it for you. stay tuned the rest of the day, stuart. stuart: believe me, we will. thanks very much, benjamin. poland has offered 28 of its mig fighter jets, they want to send it to the u.s. base in germany and hen on to ukraine. the pentagon has rejected that offer. congresswoman victoria spartz, will you put pressure on the pentagon to get those jets to ukraine? >> well, thank you for having me. it's very interesting to me that how our government does a lot of talk, doesn't do the walk. really does a lot of

grandstanding statements without getting -- and putting a lot of our a alliance in very can uncomfortable position, i think we should provide whatever we need to for them to be able to protect, and not having all these discussions with contra that districtly -- [inaudible] stuart: there is the risk of war. there is a risk that we get in a shooting match with the russians. does that the no concern you? >> well, listen, there is always a risk. and i think the risk if ukraine doesn't stop russians, there is a risk of war. and we don't need to discuss on a tweet about who's doing what. that's not how wars are fought, not on international tv and make all these big statements and do nothing. they should be having discussions with poland and provide proper weapons that the ukrainians can can defend their civilians and people and whatever is feasible, not

polarize the situation and tweet about it and escalate it more than necessary. i think that is just stupid, what we're doing. stuart: president zelenskyy is no longer pushing for nato membership. is that -- that's a retreat, it seems to me. is it a retreat that might bring a ceasefire or peace? >> well, listen, you need to understand that this aggression and war is not about nato membership of ukraine. it's totally to show the west if you have any country that want to be with you, if you have any people that want to fight for freedom, i'm going to slaughter and kill them because they have to be under me. and i think putin underestimate ukrainian people and their will to be free. and i think now he has trouble. but also president biden stunt estimated -- underestimated ukrainian people. they're not asking to send our kids to die, they're just saying we're going to fight for the whole world and for europe and

stand up with forks and knives to fight. it's unfortunate. stuart: okay. look, we thank you very much, indeed, for being on our program so consistently representing your point of view. we admire it, and we'd like to hear more are you. >> thank you. thank you. stuart: how about this? squad member ilhan omar is warning the u.s. against sending weapons to ukraine. lauren: she tweeted this: the consequences of flooding ukraine with a billion dollars in american weapons likely not limited to just military specific -- military-specific equipment but also including small arms and ammo are unpredictable and likely disastrous meaning there's no accountability for where the weapons end up. those would be unintended consequences. she's against sending weapons to ukraine, but she's also against broad sanctions on russia including the ban on russian oil imports, and the house is set today to ban that, and it looks

like she's going to be a no. stuart: i wonder whose side she's on. maybe i shouldn't ask the question that way, but that's a what occurs to you. lauren, thanks very much, indeed. again, futures, please. we're going up at the opening bell. don't know how we'll close, but that's a nice looking rally. we'll take you to it 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 hit the bike trails every weekend

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stuart: the price of oil is down this morning, back to $117 per barrel. in part because of that, the stock market's looking to a very nice rally at the opening bell. look at futures, up about 580, maybe 600 points for the dow, 330 for the nasdaq. that's a rally. eddie ghabour is back with us. eddie, you've said this is the most defensive you've ever been in your investing career, so are you going to be selling into this rally today? >> look, stuart, i think this rally we're getting here is an absolute gift. and as i've said to our clients and your viewers, bear market rallies are very violent, and you can see 3, 4, even 5% moves. but i think it's are krisal clear -- crystal clear that buying the dip is not working this year. as you know, i'm very rare wily this bearish. my twitter hand is common sense bull for a reason. but the fundamentals are

deteriorating at a very fast rate, and i don't believe most investors are positioned for what could potentially happen in this next quarter. i'm amazed at the amount of investors that have not only taken a beating, but they haven't made any adjustments to their portfolio, and our tactical strategy, we pretty much own the opposite of what we owned last year because this year we believe is going to be a different engame -- end game, and opportunities are not going to be until the end of the year, in our opinion. stuart: we're down, we pretty much stay down until the end of the year. that's the way you see it. >> so it depends how fast the acceleration goes. the first six months, especially second quarter, is most problematic. let's take a is step back and look at this. we're going to get an inflation number tomorrow which is really hot which means the fed has to tighten, and gdp, we believe, could be as low as 2% in the second quarter. if you go from 7% gdp down to 2, think about mastmatically how

big of a change that is, and if the fed is going to tight into that, i don't see how we don't see the s&p p go down another 10-15%. and that's just the reality of the fundamentals that we're faced with. the fed, in my opinion, has never tightened when we are this much slowing down and we have a yield curve as flat as it is. so if they fightingen 4-6 times, i'm going to be very, very concerned about that setup. stuart: do you feel alone in this market? a lot of folks are saying looking for buying opportunities right now, but you're not. >> so our buying opportunities have actually worked out well, we've just been buying the bond proxies like staples and commodities that a we feel will do well. but we haven't been in tech, we're not buying tech, we haven't been in small caps. the fact that i'm nonconsensus makes me feel even more confident that our call is correct. stuart: you're killing me, eddie. [laughter] you're absolutely killing me. i'm still in microsoft if bigtime and blackstone, and i

haven't adjusted my portfolio at all. i should have been your client, for heaven sake. then i would have been okay -- >> it's not too late, stuart. stuart: we're going to see you again soon, that's a fact. they're clapping and cheering, bell's about to ring, and it looks like we're going to go straight up at the opening bell. futures suggest a gain of 600 for the dow and 30 for the nasdaq -- 300 for the nasdaq. it's 9:30, trading has started. let's see how we open up this wednesday morning. open up is the right word to use because we're up 550 points as we speak. 9 and the vast majority, 26 of the dow 30, 27 of the dow 30 are in the green. this is a rally, folks, straight up. 1.7% gain for the dow industrials right from the top. the s&p 500 also strong rally, up 2% right from the start. and the nasdaq, i think that's going to be up even more. yep, it's a 2.5% gain right from the if start.

that presumably means that big tech is rallying across the board and, yes, it is. microsoft, amazon, google, meta platforms. meta is still below $200 a share, but it's rallying this morning. all right. take a full look at the markets, and and you see plenty of green right now. it's a nice rally. so, susan, good morning. susan: good morning. i was just listening to your interview, and i think you have to ask what's already been priced into the market. a lot of bad news. you're down 20% for the nasdaq, down 10 on the s&p and the dow and, yes, we haven't is even gotten that first interest rate increase just yet which we are expecting in just a few weeks' time. but do you think that the stock market decline has really done a lot to the fed? do you think they're still going to raise 5-6 times in a slowing economy with a falling stock market? stuart: -- the fed which i fail to cover on a regular basis? susan: that's the thinking you have to price in when you look at what's happening in the stock market. stuart: if we get a rotten cpi

number tomorrow -- susan: yeah. 10%, according to jeffly dunlap -- stuart: if it gets anywhere near that, that will force the fed's hand. they've got to do it now. susan: yes, and they've already said -- you can't back away from saying you're going to raise 25 basis points in march. now, will they do it every meeting until the end of this year? i think that's up for debate. and you have to remember that these companies are making a lot of money. there are fundamentals at play each and every quarter. what about the realization of oil? how do you think that factors in in terms of inflation? if you look at the drop of $6, i think there's an actual rethink. 7% of u.s. supplies coming to russia, that could be overcome. you could go to canada, vens wail what -- venezuela if you want. so are we going to today at this 120, 130 level for west texas? stuart: i don't know. but i do believe that gas stays well above $4 a gallon, and that's an inflation indicator.

susan: $4 a gallon, okay. well, look at the travel stock it ises today. i want to show you the airlines, and there's a recovery play because these stocks have been battered given that, you know, airlines have to pay a lot for fuel, higher energy bills mean that they make less money. i also want to show you big tech, apple, amazon. as you said, facebook is still sub-200. i still don't call it meta, i'm not using that word yet -- [laughter] stuart: i'm surprised. susan: when you're 10-20% down, i think there's a lot of bargain hunting. stuart: i'm surprised you not used to meta. you understand it. [laughter] susan: i do, indeed, yes. i do want to say about the apple and the shipping dates, they're shipping those devices by march 18th. that tells me that maybe the chip shortage is easing up, and that's good for a lot of technology companies. stuart: apple is up a very nice near 3% as of right now. let's turn to amazon. they, i believe, susan, are accused of obstructing congress. susan: right.

stuart: what's that all about? susan: apparently, this is a report in the "wall street journal," and they've been referred to the doj for obstruction, criminal obstruction. and this has to go back to remember how they're using and scraping third party sellers to better make their own private labels? apparently, they have not been, shall we say, cooperating with the investigation. stuart: did you say criminal? susan: criminal. potential criminal obstruction of congress. stuart: normally a stock goes down when you use the word criminal -- susan: well, i think there's bargain hunting, and there were some good headlines with europe, they're still awaiting ftc approval here in the u.s. stuart: okay, cryptos. the president's issued some kind of executive order on cryptos. is that helping them to -- looks like it. susan: well, yeah. up 10% on bitcoin today. so, you know, i think the fact that there's not much teeth in this executive order, there isn't, shall we say, a push to ban cryptocurrency.

i think that's positive given the rhetoric that you heard from elizabeth warren, also janet yellen wants tougher regulation as well. right now this executive order from what identify read through -- i've realize through is that that this is about coordination between government agencies and maybe possibly launching a digital dollar. you don't have to go to tether which some say isn't really backed by all the dollars that have been put in. stuart: nice percentage gains for all the cryptos and the crypto-based stocks. susan: yeah. and there are technicals because you're past that moving average. they read the to positives, and it could go up from here. stuart: could go up. susan: this is how i explain things to you. [laughter] stuart: explain that to me, stitchfix down 16%. susan: you know what it does, it's a personal styling company online. all-time low, below $10 here.

disappointing, well, disappointing start to the year but also for the full year as well, and they're really struggling to get customers onboard for those personalized, stylized boxes, and they're not converting a lot of customers when it comes to the direct buy option called freestyle. stuart: my daughter has no trouble, she's doing rather well. just want to chuck that out there. bumble, i'm always interested in bumble, up 39%. susan: fanta tsaic. they did really well in their earnings. customers went up 10% over the past year, 3 million paying customers during a pandemic also total revenue per user, making 10% more per user onboard. impressive in 12 months. stuart: do you have to pay a regular fee to look at all kinds of people, or do you pay a fee to rook at one person? susan: it's free for entry, but if you want upgraded services -- stuart: what are upgraded services? susan: i think you get more

matches. i wouldn't know, i've never used bumble, but they did get a really impressive upgrade, you could get $ -- 200% more. my prompter says lululemon p by the way, i went into the store the other day, and i liked it. it was excellent. went in with my daughter. susan: i would you buy any if spanx? student stuart the prompter says they're getting into footwear. [laughter] susan: i think it's an interesting consumer trend. now, tell me if you think it might be too late, because they're really competing with nike, adidas and under armour. available march 22nd in the u.s., u.k. and china, two mod pells of female shoes -- models of female shoes. it depends if grow want the higher end one, but shoe sales are boom -- have boomed during

covid. there's a lot of supply chain issues from vietnam shutting down factories, but online sales, china's done very well. stuart: not bad at all. you're going to talk me through the winners list for the dow? nike's on the top, american expression, salesforce, okay. s&p 500, who's winning there? susan: pbh. that's interesting. they own, i think, calvin klein. stuart: obviously gaining -- susan: tapestry. a lot of retailers. stuart: well, they've been doing very well recently. zoom susan southern some have. stuart: nasdaq winners, 7%, that's a gain and a half. okay. the rest of them you can take care of, inshed ya is up, very good. ukraine's president zelenskyy invoking winston churchill in a speech to the british parliament. watch this. [speaking in native tongue] >> translator: we will continue

fighting for our land whatever the cost. if. [applause] stuart: he got, yes, look at it, a standing ovation. good stuff. wokeness in a time of war, united nations telling its staff not to use the words war or invasion when talking about russia's attack on ukraine. could russia use britney greiner as a high profile hostage? that may be the case, hostage. ♪ ♪

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

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♪ ♪ stuart: russia has detained wnba star britney if green, and my next guest fears putin could use her as leverage over us. evan far cat is former assistant

deputy secretary of defense. is griner now a hostage? >> well, unfortunately, it looks like she is. the russians took her into custody because, apparently, they found some vaping vials in her luggage when she went through the security screening process, we have footage of that, and we don't really know much more. but the russians, we should note, are holding two americans under what we believe are fabricated charges or trumped-up, you know, extended prison terms. they are paul whalen who's been held for over a year, i think two years, and then trevor reid, also a younger gentleman, former marine, who's also -- stuart: are they now -- [inaudible conversations] are they bargaining chips, evelyn? >> unfortunately, i believe so is. and what has happened is that vladimir putin's realized the first two he's holding in

custody haven't gotten him anything, right? but brittney griner, she's a star athlete. this will cause some pressure to be put on the white house to release her, to get her out somehow, and vladimir putin opinion will have his price. stuart: okay. the pentagon is rejecting poland's proposal to send fighter jets to a u.s. base in germany and then transfer them to ukraine. the pentagon is dragging its feet on this saying it's not going to do it. can that be changed? because the ukrainians are desperate. this is what they really need. >> yeah, it's a little bit odd because this negotiation is happening in the public if between the united states, poland, ukraine, i guess. clearly, we need to do something to help the ukrainians' tend -- defend themselves better from the onslaught they are receiving from russian artillery and aircraft, and these fighter aircraft would go a long way. hopefully, there'll be something, some mechanism to, you know, provide these jets or some other means of covering the air for the ukrainians. if not, we're going to see --

stuart: exactly. it seems from a distance that the administration is frighted of provoking putin. frightened of what his response might be if we help the ukrainians in their hour of need. >> well, unfortunately, we're dealing with someone who has a high threshold ferriesing, and that is vladimir putin. and we also can't rule out the fact that he would use tactical nuclear weapons. so there's a danger of escalation, undeniably. but i would say that the only thing that vladimir putin understands is firmness. and so we have to stand up to him, and we have to be willing to accept some risk ourselves in order to save lives and bring this conflict to an end and stop vladimir putin. stuart: do you think they'll get those jets into -yard line this week? into ukraine this week? i think we've got a freeze frame there. that's what happens. the video just kind of freezes, can't see -- you see the freeze

frame, can't hear anything. i think she's back, yes? if evelyn's back. thank you very much, indeed. do you think we'll see those jets get to ukraine this week? >> i don't know, to be honest. i do hope though that they solve the air, the open air, you know, the absolutely vulnerability that the ukrainians are facing this year. stuart siewmpt evelyn far cat, always appreciate it. the u.n. is selling -- telling some of its staff what they can and cannot call the war in ukraine what's not allowed? lauren: the u.n. told its pr team you can't call the war a war or an invasion. just call it a conflict or military offensive. in russia if you're in the media, you can't say those words. if you do, you can get 15 years in jail. as for the u.n., north korea chairs their conference on

disarmament, right? stuart: north korea? lauren: yes. and cuba and china are on its human rights council. so i would say in this sense the u.n. has discredited themselves. i apologize for the harsh view, but that just doesn't make sense. stuart: you don't have to apologize for that. how about this one? i believe ukraine is rewarding foreign volunteer fighters with what? lauren: citizenship. more than 20,000 foreigners are helping not only to fight for ukraine, but defending their own common security because fighter from the nearby area are worried how far of is putin going to go. so if you're helping ukraine right now, you do get -- if you want it -- citizenship from that country. stuart: how many? 20,000? lauren: i've read different numbers, i'm going with at least 20,000. stuart: fair enough. is fracking the answer to high energy prices in america? "the wall street journal" author who wrote the book on fracking is here with an answer for us. if you missed apple's first

product event of the year, don't worry, big tech watcher ray ray wang hasas the highlights next. . [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪

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stuart: apple has unveiled new products. who better to talk about it than ray wang, the man himself. all right, let's start with this

new affordable iphone. what's the price, when is it available? >> it's $429 available march 18th, but what's interesting is it's got the apple -- 15 chip this there and what that means is it's got the latest bionic chip which means a 12 mega pixel camera, and this is part of the theme within apple where a lot of things are 5g-enabled. stuart: is that geared towards other markets outside the united states maybe? >> it's geared for entry level, first-time apple users and, of course, outside the u.s. if you think about the inflationary pressures that are going on, if you think about all the pressures in general in terms of what people are feeling, this is apple's way of getting a cheaper unit into everyone's hands but also accessing apple services which is really the prize. stuart: got it. i ipad area with an n1 chip. explain that one to me. [laughter] >> so people like the ability to

carry a tablet and before it didn't have 5g capability, and it didn't have the new chip. it means that your ability to do video conferencing, the ability to access new services is a lot much -- a lot faster and, of course, the price point is very good as well. it's also available march 18th, and one of the things they've also done with that is made the ipad air a little bit lighter. stuart: a mac studio. i know it's new, a new version of it. what's it do for me? >> it's a brand new mac in the lineup, and the interesting thing is the n1 chip. they've taken two n1 chips, put 'em together, made it a lot faster. and, of course, this is the most powerful mac lineup in terms if you want a physical if desktop device. it puts in -- it in between the mac perot line and the mac if mini, and a lot of people are looking forward to the power of the n1 chip, the most powerful

mac computer that's out there right now. stuart: big picture question. a lot of people come to me and say, look, technology, you know, iphone or apple, whatever, is not user-friendly. what do you say to that? >> you know, apple's the one that pioneered ability to make user experience easier, designed in a way that, you know, actually -- easier to actually adopt technology. so a lot of the things they've done from user experience, voice, accessibility, that's what apple's known for, the design, the cleanness of it. so almost every single design feature of a mac or apple product and an iphone is really about accessibility and usability. take apple tv+ if, you take any of the things they've rolled ou- stuart: they're not designed to be a wow factor. it's not a huge revelation, is it? >> you know, actually, getting 5g and the apple chip is the wow

part at the price level. so the price performance is the wow, but the big news was the ultra chip which is probably the fastest in the pc world. stuart: ray wang, thank you, sir. see you again soon. quick check of those markets, please. 25 minutes' worth of business under our belt, and the dow's up 500, the nasdaq's up 257. the price of oil down to $118 a barrel. that may be one factor behind the stock market rally. price of gold really falling out of bed, down nearly $50, falling below $2,000 per ounce. still ahead, retire four-star general jack keane, lawrence jones. the 10:00 hour of "varney" is next. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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stuart: good morning it is a wednesday. wednesday march the ninth all day. we have a rally on our hands. the dow is up 550 and the nasdaq up 305 points. that is the best part of 2.5%. the price of oil has come down read that is encouraging the market. oil $170 per barrel. bitcoin fairly firm. up over $3000. $42000 per coin. interest rates, they have been climbing this morning moving up

1.92% on the ten year treasury. we just past the 10:00 o'clock hour. very important numbers coming to us. the jolts number. that is the number of unfilled job vacancies. do we have a number? >> the labor shortage in the second year 11-point to 63 million. the most ever jobs available in the month of january. >> it went up sharply. if you look at the number of americans looking for work six-point to 7 million. there are basically double the number of jobs open for people to apply. >> wouldn't that be inflationary? i would've thought it would be. you have the job go win. maybe for higher wages to fill that job. liz peek is with me, that's what she's trying to say to me.

>> we had this going on for months in the biden administration has done nothing to promote people to go back to work. mask mandates, vaccine mandates it is horrifying it is so obvious what needs to be done. sorry to interrupt. >> will get back to your main point in just a moment. stuart: my take. america's standing in the world has taken a beating. our president is negotiating with the tyrants and terrorists, begging them to produce more oil. our diplomatic talking to nicolas maduro, the dictator of venezuela. we want his whale when we had severe sanctions when he wrecked the country provided is negotiating with iran, a terrorist state. they have been killing americans for two generations. but they have oil. biden will open the door to an iranian nuclear if they pull up crude. doesn't it take a long time, doesn't it take a long spoon to suffer the devil. that's a precise quote.

maybe that is why the sound has refused to take a call from our president. there in a proxy war with iran and don't want to see the iranians get off. what about the stated in the world a foreign leader won't take biden's call. the chinese would not have threatened taiwan if america was respected. putin probably would not have invaded ukraine if he was worried about america's power. it reminds me of the late 70s. at a very bad time. let's not forget we recover quickly. we covered understanding, very quickly with ronald reagan. second hour of "varney" just getting started. ♪ ♪. stuart: the white house is pushing back against the wall street journal report that biden was brushed off the leaders of saudi arabia and the united

emirates. biden was totally crazy. liz peek is here. let's go back to her standing on the world stage. it is down. >> the world understands these are not serious people pray let's talk about saudi arabia what did biden do to defend saudi arabia. the minute he took office he did decided he would not speak, mohammed the son of the ruler of saudi arabia who is to agent to be in play. nbs was trump's ally. biden would not talk to him on the phone. he also basically took away their terrorist designation of the hoodies, refused to send anymore aid to the war in yemen. he basically blocked the sales of military gear that was supposed to reward the uae for its involvement in abraham accord. basically took an incredibly

productive and promising overture to the middle east the abraham accord and insulted nbs also by releasing an intelligence report about the murder of jamaal. two days later when he did that the saudi's refuse to increase oil production even though in the entire world expected that to happen. they sat on production. my guess, here is a prediction that that will change. there is one country that can solve our energy problem right now it is saudi arabia. my guess, use all we released guantánamo saudi and send them back to saudi arabia. the saudi's would rather be alive with the westin russia and china but they are also set up with the reckless government and the white house. just think for a minute when i say they're not serious people for months and months biden was warning that putin was going to

invade ukraine. what did we do, do we top up the spr and light up additional supplies of energy to help out not just the united states but the world. did we did relax the restrictions on drilling in the united states. it's been the worst pileup of policy disasters that i have seen in my lifetime, literally. stuart: i think you are right. liz peek, thank you for joining us. more companies are cutting ties with russia, big-name companies walking away from russia completely. >> including companies that make essential products. union labor suspending imports and exports to russia. so his craft tines. the cigarette maker philip morris is suspended investments and scaling down manufacturing. nestlé the largest package food company suspending capital investments there, procter & gamble, pampers diapers, capital investment in russia. significantly reducing their portfolio because they want to

provide basic hygiene. it begs the question of corporate suicide to stay in russia on moral and ethical grounds or is there a middle ground because companies want to support the innocent russian people and all of this with basic goods like diapers and of. stuart: it is completely changing the look of russia. the man on the street and the woman on the street sees a different set of circumstances, different stores, restaurants and products all over the place. that is a real difference. let's get back to the market we have the rally going on the dow is up 600. the nasdaq up 333. plenty of greed on the left-hand side. marchetti cares to me we invested work. it seems like it's been turned upside down. what do you say? >> july 7 they said china is on

investable recently i said russia is on investable. they came out and said that they thought they were going the government bonds to the default and s&p that downgraded russia. i think russia is a place you should not have anybody if you have any funds with russian exposure, i would consider partying. stuart: spell it out if you would. if there was a default on russian sovereign debt, what are the repercussions, could it play out in the rest of the world and bring us all down? >> the rest of the world in the emerging-market debt in the time with my clients right now. we will have a major affect on the fixed income markets and it will be a total mess. stuart: what about inflation. it looks to me, probably to you

to a real inflation problem. it's not going away. does that alter your investing in american stocks? >> no, let me tell you what i've done. my measure of inflation is the consumer price index of the producer price index. it's 8.7%. i think the next round will be over 9%. the high-yield bond of bloomberg index is around 605%. we are not anywhere close to the inflation rates right now much last month. my clients are all paying substantially more in the inflation rate of 8.7 in more than the other paid monthly. every month you get money. i think that is absolute best place to put money right now. also with the market at the

baseboard like the nasdaq down 16% of the year. for appreciation is getting very difficult and i think the income strategy is a far better strategy. stuart: you got it right. see you again soon. down 3.8%, why? >> it is down because their ceo says their exposure to russia is on the line. the current quarter will be hurt by that their overall revenue. >> palantir. >> up almost 6%, piper stanley started with an overweight, they said the it solution services are increasingly standard among big companies in the ukraine war is an accelerator of an adoption of what they do by government. >> i would have to believe gold-mining stocks are generally down in barrick is down 5%.

>> they had a nice run but there's not safety trade so gold prices are down 3% and many of the gold miners and gold stocks are down as well. stuart: a nice rally in stocks the dow is down 600. what are we doing with bitcoin, 42300 back on the rise of a five-day losing streak. the president issued an executive order on crypto. what did he say. >> this is the biggest increase in a month. the president wants to review crypto's and all of government approach, treasury develops a policy and commerce creates the youth case and regulators oversee all of this. then the justice department will look at the idea of a digital dollar. crypto's are higher because this government approach is not considered by many to be too tough. it is also timely because russia could use crypto currency to evade sanctions. this is the u.s. government

standing up and saying we are looking at everything so we will also know what russia is doing. stuart: that is a positive for crypto. >> there more legit because the government is recognizing them more. 40 million americans have some exposure to crypto. stuart: listen to msnbc joy read why the world is pain so much attention to ukraine. roll tape. >> let's face it, the world is paying attention because this is happening in europe. we don't need to ask yourself if the international response will be the same as russia unleased therefore that wasn't white and largely christian. russia has already done in syria. >> lawrence jones will take that on in our next our. as we entered the second week of russia's invasion of ukraine. close to the end of the third week trade there are reports that kyiv could come under attack within 24 hours.

trey yingst is live in kyiv and will have the latest force. ♪ ( ♪♪ ) ( ♪♪ )

( ♪♪ )

stuart: the market is in rally mode, very solidly, the dow was up 600 and the nasdaq up 300 points. have a look at mcdonald's, they joined the list of companies all times with russia. the store closures 850 store closures in russia will cost mcdonald's $50 million a month per the stock is up 1%. explosions can be heard in kyiv. that is where trey yingst is. huanan. how close are russian troops to the center of the city.

>> they are a few miles outside of city limits. it comes amid concerted development. the ukrainians say russian forces had disconnected true noble nuclear plant from the power grid. reports indicate emergency generators backing up the grid but they might only last for 48 hours. this has one member of parliament calling this a dangerous situation in differential will not cease fire they expect radiation leaks. ukraine's power operator added wind to carry radioactive substance to other parts of europe. the energy agency confirmed true noble is no longer transmitting data but they see no critical impact on safety at this point. this comes as russian forces will respect humanitarian corridors for civilian evacuees leaving 55 locations. including mariupol.

in the capital kyiv people are preparing for a similar siege in the coming days. >> we are going to fight for our country as they said. we will fight for our values. it is necessary for all of us. ukrainians are working around the clock to fortify the capital of kyiv. the putting sandbags in the roads and using hedgehogs to block the streets. ahead of a possible russian advance on the city. >> using donated steel artisan are welding barricades as hedgehogs there making 40 of them each day but plan to increase production as russian tanks and trucks get closer. you can see the boys working altogether. it is all volunteers. some of them did not know how to work with steel and we taught them. everyone is happy with a can this is it just the city. this is home for 3 million people. >> i'm living here starting from seven years old i grew up. got married here. most of us will stand until the

end. >> following the last interview we sought ukraine's air defense system active as they continue to target the city from the air in the ground. stuart: trey yingst and kyiv. i will bring in jack keane. general we just heard the suggestion that true noble, the reactor has been removed from the power grid. what do you make of that. is it possible that putin is using chernobyl as a weapon of some sort? >> i don't think is directly involved in that. i want to listen to what the iea has to say. they don't think it's a critical safety issue yet. within advance observation. let's get some more facts before we take this into a critical phase that it may not be. stuart: what your assessment of the situation in kyiv. we here it is 24 hours away from heavy assault, your assessment please.

>> the russians have spent a week getting ready for what were about to see here. they made a number of tries to encircle kyiv and that of them have been successful while i agree with trey, most on the western side. they are making a relatively long approach on the eastern side and on two axes of advance. one coming from sumi. they pulled forces from kharkiv into the saxes as well. their plan is to encircle the city on the west and encircle on the east. once the encirclement is complete the encirclement will bring a lot of artillery with it. that artillery area attack weapons are long-range artillery and rocket artillery will humor the city. in addition to airpower while there is some capability to defend against airpower. some of those bombs are going to drop. they will humor the city and try

to get the leaders to capitulate and surrender before they send their combat troops into the city. that siege could take a couple of weeks. i think likely the people there have stocked up on water they stocked up on food probably a couple of weeks worth. and such russians will likely turn the water off and shut the water distribution down and not let any food in. this will be a humanitarian crisis for sure. remember the russians are making war on the people as much as they are making war on the ukrainian military. that is an objective of theirs to force the leadership to stop the suffering by but kitchen relating to give it up. if they do not give up, they will enter kyiv with their combat forces. they will have to fight block by block and building by building. it should be known in our audience urban welfare favors a defense because of the obvious, there is so much concealment so

much cover to take in buildings and it soaks up a lot of forces to be able to take a major city like that. if the defenders have the resolve and also have the capabilities. this is a very critical phase that we see unfolding, it may take a little longer than 24 hours to make this approach mark. there is no guarantee they can encircle the city. they have not made it before. the added additional forces to both of the axes to help them do it. there are no more forces outside of ukraine. all of russia's deployed forces are fully committed to this main effort into the campaign in the south. stuart: would make any difference if we can get the jets into action in ukraine? >> you better. we've got to be all in. i understand what happened. i think somebody high in the

russian government called the polish leaders and said if you give the re-creating and those fighters is an act of war and you will suffer the consequences. i think the pole has folded and what they did they said will send the fighters to a u.s. base in germany, they washed our hands they are no longer are fighters. and given them to the americans. i do believe the americans should slap them for that. if they don't change their position then we should pull out the ukrainian pilots, miriam up at the airplanes and let them get those planes into the fight. let's get the bureaucracy out of the way and solve the logistics and let's get on with giving them this assistance. stuart: thank you for being with us and contribute in your expertise. we evaluate. see you soon. ukraine seizing some of russia's military equipment. actually, in. tell me why this is a good thing for american intelligence.

ashley: it can provide a gold mine for u.s. intelligence looking to get a rare look of russia's military equipment in the encrypted command and control data that they contain. a retired army colonel said it's like capturing an enigma machine going back to nancy germany and the second world war. even devices as simple as radio could contain so-called crypto information giving and insight into russia's communication. technology can be developed to listen to those communications as well. by the way ukrainian own defense company reportedly offering rewards for russian combat aviation equipment. $500,000 for a captured military helicopter and $1 million for a warplane in working condition. stuart: very interesting. thank you then we have this. the united nations reportedly telling employees not to call

russia's war on ukraine innovation or a war. the organization is scrambling to downplay that report. president biden says record high gas prices are putin's fault. the cost of advising way before the invasion. edward lawrence has a full report from the white house next. ♪ you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ 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.

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stuart: the dow is up over 600, the nasdaq is up 370 in the s&p 91 points pre-that is a rally in a half. lauren is looking at the movers let's start with alaska airlines. >> i'm going to tie in the labor shortage alaska air is opening a pilot academy no experience or interest, and they will train you. overall travel. stuart: no experience or interest. >> with the cooling oil prices you have the other leisure stocks leading the market today. they are all surging. >> the juul report came out 11-point to 6 million unfilled vacant jobs.

that's with alaska airlines. >> people quitting for the seventh month in a row. >> campbell soup up 7.5%. >> they missed estimates, supply shortages. the final half of the year they will see an improvement in supply. they say their staffing levels are improving so they're hiring 230 workers the past five bonds and they don't have any exposure to russia or ukraine. stuart: at&t, the most beaten-down stock that i've seen in a long time. >> warner media will no longer broadcast in russia, no cnn and no news causing all new business in russia. stuart: no cnn and russia. heartbroken. the wall street journal is reported the united arab and brentwood not take phone calls from president biden. the white house is denying that story. edward lawrence at the white house, tell me more. >> saudi arabia and the united

arab emirates according to the wall street journal refusing to set up a phone call with the white house here. this is the president is trying to desperately get countries around the world to add more oil supply. what's happened over the past several months the u.s. has the envoy after envoy into saudi arabia to get them to produce more oil. it's been a steady no now you see outreach to venezuela and iran. the embassy spokesperson tells me about the robust calls this is a gross mischaracterization it does not reflect reality. we are not going to get into diplomatic matters but the basic premise of the article is totally off base. the last call the president made into saudi arabia was the saudi king it was brought up with the relationship with the two countries. >> i think saudi arabia probably does not have a whole lot of confidence in this administration to the security

interest in relationship to the united states it'll stay stable. is this president, and take policies contrary to our allies. >> at the heart of this is oil prices that lead to gas prices. i want to show you the graphic collected by the energy information administration. when biden took office it was $2.53 a gallon. the russian invasion was $3.54 a gallon. a huge increase between the two levels. the middle number there was the highest since 2014, there is no denying the trend with a steady increase in gas prices from the energy policy of this administration before the invasion. i am told there is going to be a phone call that is set up between the white house and the crown prince's saudi arabia soon. we will see if they pick up the call. stuart: edward lawrence, thank

you. russia is restricting social media as the war rages on. do the russians have any source of information of what is going on in ukraine? >> i think the administration we are talking about is an autocratic regime. one thing i want to point out we were fighting an autocratic regime we need to make sure we have the moral standing at home to highlight what distinguishes the us from them. there is no doubt that we need to be taken severe action to prevent vladimir putin from his fear of influence. i think it's a notation to remind us of ourselves here that we have a party in power in the united states that wants to censor misinformation and hate speech as they defined as home. i'm see the method thomas are under democracy of the united states and canada to slowly in places like russia. that is what it under discussed issues that we need to pay attention to in this time of

crisis. we have a 45th president of the united states say whatever you will he does not have access to facebook or twitter yet vladimir putin was shutting down facebook and twitter over there. we have to ask yourselves what distinguishes us from the other side to really have the moral authority that we need to to lead the free world. that's one thing that we need to talk about more. stuart: we will talk about it more. thank you for raising the issue. i have not seen a put in those terms before. the united nations is telecommunications don't call ukraine conflict a war or an invasion. you can't do that. it seems like we've seen woken us in the time of war at the un. what do you say. >> i think the issue runs deeper. this is a hard question for a lot of people to ask and that's why we need to ask it. what is the purpose of the united nations today and has it outlived its purpose when it was created decades ago. there are five permanent members of the un security council, russia and china are two of

them. i personally think their aggression represents what are the greatest threats to the free world today and in what ways is that helping world progress. what ways is it impeding world progress pre-will become an institution beholding to the kind of powers it was supposed to contain. the un security council is greater than 1945 pre-pre-1945 and access in the germany of japan and the access that we would contain with the security council now it is russia and china that may take the places of germany and japan as we look ahead to the next ten years. i think when institutions have outlived their purpose we need to ask the question of whether those should continue to exist. i know that's a provocative question but people need to ask. stuart: you have an original and interesting way of looking at things. we are glad you are on the show. you are raising issues that are not thought of before. come back anytime you would like, you are all right. >> amazon web service blocking new sign-ups in russia.

what happened in that country in russia and belarus by the way. what happens when they withdraw. >> less conductivity, you will have access to your data or your apps. amazon is saying they don't want to aggression or belarus to sign up for new cloud accounts. let me give you their statement with the certainty and lack of credit available in russia right now. we are not accepting new russian aws customers, that does extent to belarus. they are giving support to ukraine to defend of cyber attacks. amazon has very little exposure to russia, there is no infrastructure there. this is a symbolic move to your question, the bigger move his communications, those are huge american internet providers and they've called a russia. there's all these companies

leaving stores and restaurants in restaurants leaving. what do russians think about that, you thousands and thousands protesting and being arrested because of it but putin's pole approval rating if you can trust russia, they are high to all of this 17 or 80%. the group thanks so are they completely cut off of what is happening. if they are there life is changing. >> the russians will dictate the polls. thank you. president zelenskyy in ukraine valley not to give up. watch this. >> we will not give up, we will continue fighting whatever the cost. >> it was an address to the british parliament. can he lead ukrainians to victory and what would victory look like. alaska ukrainian parliament in

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stuart: it's a rally the dow is up 600 the nasdaq close to 400 points. the price of oil is down. that's one of the reasons the market is doing so well. the oil is back to $170 per barrel a couple of days ago 130. energy companies on the downside as the price of oil falls. conocophillips, chevron, bp is on the list, all of them down one or 2%. there is a bipartisan deal on aid for ukraine.

ashley, good morning. ashley: the deal provides $13.6 billion to help ukrainian european allies as part of a one and a half trillion dollars spending bill. president biden had requested $10 billion for military humanitarian and economic aid but support was strong that the amount grew to the 13.6 billion. the bill is expected to go to the house today in the senate by the end of the week. ukraine conflict creating momentum to get the spending bill through but congress facing a friday deadline to approve the plan or face a week in federal shutdown. stuart: joining me now the first soviet born citizen to be a commissioned officer in the united states armed forces. gary is with us. good morning to you. you are in ukraine helping refugees. you are in kyiv.

>> i am not in kyiv. stuart: you have to tell us where you are. >> it's not important. stuart: what's the atmosphere in ukraine. >> they have a high spirit, they were able to stop the ground offense and in some areas do advancing and counterattacks. so the spirit is very high. although they are very upset with us today because they were expecting the polish air force that they could fly and the pilots have been sitting for a week. today they were told by the pentagon that they weren't going to get it. there sky is open and they are

saying they're very disappointed with the united states and our so-called leadership because they were told when biden becomes the president that he would be tough on food and putin would not be powerful too long and the first thing they needed to lift the sanctions from the pipeline and then the oil prices went up and everything was provoking putin to attack them. they were told true that was prudent puppet and biden would straighten it out in the have to get rid of trump, they feel that they are the ones paying the price and they've been lied to. in that sense they are upset with us. stuart: you are soviet born, you are russian. you are in ukraine and ukrainians are being attacked by russians. how do they feel about you, any

hostility to you. >> no. there are a lot of russians in ukraine with russian last names. the president of ukraine is jewish and before that the prime minister of ukraine is jewish. ukrainians are very inclusive and they definitely don't like russians, the many people of russian defense are fighting on the ukrainian side. as a matter of fact the bizarre thing putin's idea was to free the russian-speaking people in ukraine because are under ukrainian pressure and ukrainian abuse. what is happening they are bombing indiscriminately the russian-speaking cities. the one he said he was good to protect his using cluster bombs. stuart: i am out of time. but we appreciate you coming on

and we will see you again soon. vice president harris is on her way to poland to get a look at the humanitarian crisis for herself. how will her visit help ukrainians. connell mcshane has a report after this. plain aspirin could be hurting your stomach. vazalore 325 liquid-filled aspirin 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! 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

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stuart: kamala harris is underway to pull in. column mcshane is over there. how is harris visit going to help ukrainians. >> her visit is more political to be honest i think shall be dealing with the first day the back-and-forth disagreement with fighter jets being supplied into ukraine and probably dealing with political issues when she goes into the capital of poland to romania on friday. average ukrainians going on two weeks are dealing with different issues. they are changing their stories that they are telling us or the stories that they're being told are changing it's interesting to watch how this is involved we've been in poland all of last week

and slovakia i'm now in a train station not hungry. what i mean by the stories are changing they are getting so much more emotional. these people didn't get out before a war began, they waited in they had seen war they seen up close and personal. listen to this conversation. the first question i was asking a young girl from kyiv. >> what was it like in kyiv when you left. >> very awful the village in my city kill people.

you get a sense of speaking with these people what they did it personally. as we get two weeks into this war, they have been to an absolute nightmare. >> thank you so much, joy to me now the international federation of red cross, what is vice president kamala harris going to see today in georgia. >> it is escalating. hundreds of thousands of people. [inaudible] stuart: i'm afraid i have to interrupt. the audio quality is not working

for us food with the probably the video as well. forgive me as i walk away the fox corporation that is r. company has $1 million, you could donate two by visiting redcross.org/fox business. pre-satellite images, that is construction at north korea's nuclear testing site. ashley webster wasn't the shiite shut down in 2018? >> it was but the latest satellite images telling a different story. they show signs of activity including construction of a new building, repair of another and what is possibly lumber. a u.s. intelligence report is wording that north korea could resume major weapons testing this year north north korea tested a record number included the largest weapon since 2017.

it appears to be preparing a spy satellite international monitors also reporting the country's main nuclear reactor facility is appearing fulltilt potentially creating fuel for nuclear weapons. talks are being installed since 2019 when president trump held that summit with kim jong-un. that is the last time the u.s. and north korea has spoken. stuart: thank you so much. on this program florida congressman greg steube and lawrence jones. the 9:00 o'clock hour of varney is next. ♪ .. you sell high commission investment products, right?

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>> i think vladimir putin underestimates the ukrainian people's will be free and president biden underestimated the ukrainian people. >> biden wants to make sure we buy electric vehicles because he thinks that v problem and the american people see through it. >> if we see oil come down 20% the market will be 70% hiring days. >> find the dip is not working and selling the risk is. i don't believe most investors are positioned for what is

happening in the next quarter. >> russia is a place you should not have any money. stuart: good morning. it is 11:00 on the east coast, wednesday, march 9th. that is a rally. the nasdaq composite is up 3%. over 400 points and the dow up 700 points. the price of oil is down, that has something to do with the rally in the stocks after so much selling. oil is $118 a barrel. the yield is going up big time but that's not hurting the nasdaq composite, the yield is up 1.92%. now this. the president's speech on energy showed how out of touch

he is. he missed a golden opportunity to reset america's energy policy. you are now paying a record price for gas, $4.20 a gallon as of today. truckers and farmers, record price for diesel, $4.88. the president refuses to do what has to be done. the won't raise america's oil production. this is biden's picked to be the top banking supervisor for the country. she insists banks direct money away from investments in oil, gas and coal. these are drilling rigs in the gulf of mexico. oil companies wanted to expand their operations but a judge killed the leasing deal. biden didn't appeal. then there is red tape. the greens love regulation, it is what they use in the war on fossil fuels was the governor

of alaska said his state could produce 1 million barrels a day if redtape was cut but won't do it. the president is blaming the oil companies for not producing more. running to tyrants and terrorists to get more oil, he will do anything rather than get our own energy. that's how powerful the greens are, the climate crowd costing you a fortune but $5 gas and raging inflation may cost the democrats the house and the senate in november. third hour of varney just warming up. lawrence jones criticized my editorial saying i needed more energy. lawrence:that was 8 or 9. we will take it. i wish the president had been on ten because this was an

opportunity to show empathy with the american people and say i made some bad decisions when it came to oil and gas go with the climate, the progressives, the white house has this thing they do when they get something wrong in the polls change they act like a never happened but the american people are smarter than that was the notion the gas companies did not want to pump more gas is delusional. take any business like mcdonald's doesn't want to make more big macs. no company doesn't want to increase their bottom line but that's the argument the white house is making. stuart: your job is to go cross-country. as you go around what are people saying about gas prices? these gas prices will stay at lofty levels through the rest of the year and it could be a big deal in the elections. >> i went to the gas station

yesterday, $88 to fill up in texas. this issue -- stuart: you've got a big suv? lawrence:everything big. this is a unifying issue whether you talk to democrats or republicans are independents they feel the same way about president biden on this issue. i make this post on social media. based on means wes have not what is impacting the american people this is what you get, energy policy during the presidential election the media refused to cover up, went to the green initiative but didn't talk about the effects on the american people in russia and ukraine but if we were pumping, if we were energy independence which wouldn't be having this conversation. stuart: always every day on this program we have been pounding the table drill for

your own oil. lawrence:we are thinking eventually the white house will hear us. they decided to go after russia when it comes to oil but pumping more in the country and oil and gas companies say these leases are out of here. we've had several people from those groups, just not true. stuart: i hope we've got time for this. listen to what joy read said about why people are paying attention to ukraine. >> the world is paying attention because this is happening in europe. if it was happening anywhere else would we see the same outpouring of support and compassion? we don't need to ask if it would be the same of russia unleashed their horror on a country that wasn't white and largely christian because russia has done it in syria. this is a teachable moment.

stuart: does she have a point? we didn't pay much attention to the destruction of cities in syria or grozny in the soviet union or russia. lawrence:we don't pay attention to issues facing the american people at home but the reason the american people are doing that is the ukrainian people. never seen such fight, such will in any international -- these people are willing to die. we have our men here willing to run away from a fight. they are putting their women on planes, trains, to get them out of the country and they are willing to stay and fight. they made the world cover this conflict to. there is a tendency to racialized everything. i didn't you cover it more?

you can't criticize the mainstream media when you have a platform. i have an issue covering crime and hopelessness in america. i go to the community and cover it myself. stuart: lawrence jones is fired up this morning. you can watch lawrence on his new show, lawrence jones cross-country. i watch it in the repeats. saturday at 10:00 pm eastern only on fox. quick check of the markets. dow is up 640, nasdaq up 382. that is a rally. mark tepper joins us. will the rally last?

>> will it last? i am going to say no. the strategy is you want to fade these rallies which i don't think we will see the market bottom out until apple drops below its 200 day moving average, $153, you need to see -- stuart: your big indicator. >> that is when this thing will have run its course. you look at apple and apple, the 800 pound gorilla, the highest market cap of any stock in the s&p 500. we -- you need to see the biggest company's break before the market can say the selling is over and done with. stuart: you don't think we are there yet. >> no. a couple weeks ago apple came close to breaking its 200 day moving average.

it was within $.50 of getting there and it popped. we are not there yet. there is more pain to the downside coming, maybe we dropped to 38, 3900 on the s&p before this is over and done with. stuart: i read your stuff and you see a recession coming in europe. what about here? recession possible, what do you say? >> i will go with yes. the hague will be 5 times this year. i bet you we can only handle three or four rate hikes. the longer this energy crisis drags on the more likely we end up in a recession. probably not a deep one or along one but negative gdp nonetheless with our economy was slowing before energy prices skyrocketed and the fed in position where they hike

rates to curb inflation while the consumer's wallets are getting pinched and consumer sentiment and continues to plunge and lower today in april of 2020 when covered began. i wants to be optimistic. stuart: good to have you on the show. stuart: netflix is up 5%. lauren: it is a low growth profitable company through 2030. this is a shift. it means long-term. this is a solid company without huge subscriber gains but long-term a solid company upgraded to neutral. stuart: next case. the dating service.

we started with bumble an hour ago. look at those gains. lauren: they are upgraded to outperform, they like the international expansion of pinch, one of the dating services. look at the gain from bumble, 50%. making the first move. they see strong growth all year because as covid subsides it returns to normal. they are leaving russia, ukraine and belarus, $20 million in revenue. i'm putting that out there on earnings. stuart: pfizer, what is the story? lauren: they are testing two levels of their covid pill on children, young children and 140 kids who have covid with symptoms.

the us purchased 20 million doses. stuart: pfizer stock is at $48 a share as the pandemic began. lauren: a lot of parents not vaccinating their children. stuart: it is up to%. the woman is under arrest after being accused of spying for russia. more than 15,000 people lost their jobs when biden shut down the keystone pipeline. the white house promised to replace those with green energy opportunities was a report on that forum capitol hill and the latest on ukraine. much more still ahead. 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.

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stuart: 1500 workers lost their job in the keystone pipeline was shutdown of those jobs would be replaced with green energy opportunities. hillary vaughan is with us. you spoke to laid off pipeline workers. have they heard from the president about these green opportunities. >> reporter: they have not. we talked to two workers who were planning to be part of the keystone project before president biden shut it down. they said they heard nothing from the administration about when their green job would be available. essentially have received 0 contact from the administration on that front. we talked to gerri tomlinson who has worked in the industry for years. he was forced into early

retirement when the keystone project was shutdown. >> i started at the bottom and worked my way to the top. it took years and years of experience to gain the knowledge. i will never live long enough to gain that knowledge and experience in the green industry that i have over the fossil fuel industry. >> reporter: those that were slated to be on the project calling out hypocrisy and what they call the double standard. the administration trying to pull oil overseas while shutting down projects domestically. greg russell was supposed to be part of the keystone project. he comes from a family of pipe liners and has been doing this his entire life and he blames the president for pushing him out of a job without pushing them into a new one.

>> president biden, because he's the one that signed it to kill all that. killed my way of life. you are trying to do away with my career and it was gutwrenching to know -- shut down all this. >> reporter: a lot of these workers take it personally. they feel their industry, their line of work, their life's work has been demonized by the administration especially when they see a lot of the energy we are getting is coming from overseas when they were working on a project that would give us gas from canada to the us but that wasn't in line with the climate goals. stuart: but won't produced ourselves. makes no sense to me.

on that note, two imprisoned americans released from venezuela followed by the biden and ministration meeting with the maduro regime on oil sales and back to saudi arabia as we try to get out of them. congressman greg steube is with us. how do you feel about america's president dealing with tyrants and terrorists to get oil he won't drill in america. >> the maduro regime, the united states doesn't recognize him as a formal leader of venezuela. we deal with terrorist and uranium this and beg the saudis -- when trump left off as we were energy independent exporting coal and natural gas and now have the opposite, we are paying the russians to import oil and still have inflated gas prices because you shutdown domestic oil in the

united states. americans are sick and tired of these backwards policies. the biden administration is beholden to the environmental movement that is hurting everyday americans. stuart: they might change course as we get closer to the election than the gas is at $4, $5 a gallon they will be under enormous pressure to change course and drill in america. you think it will happen? >> i hope it will happen. i think those prices will get higher especially if we are voting on banning russian oil in congress was if the white house is serious, they are importing tons of oil because they shut it down domestically where will they get it from, that will drive up the price of gasoline for every day americans, we could see $10 gas in the united states and that hurts middle income people, doesn't hurt the wealthy owners but every day americans working

two jobs and put food on the table. stuart: the chokehold the greens have has to be broken. otherwise they lose huge in november. last 30 seconds. >> the republicans can take the house back and be a check on green policies that are destroying lives and destroying american jobs. stuart: congressman greg steube, thanks for being here. a russian-american woman in the us has been accused of acting as an illegal agent. ashley: 61-year-old eleanor branson charged with 6 counts accused of working as an unregistered agent in the us but now is on the run, escaped to russia in 2020. branson is a dual us russian citizen working for moscow

since 2011 and allegedly coordinated meetings to lobby american political officials and businesspeople and tried to promote russian government politics by running organizations in the us. authorities say branson never informed the attorney general of her work are registered under the foreign registration act and lied when interviewed by the fbi before taking off for moscow fearing she would be corrected. stuart: now we have honeywell, the latest to suspend operations in russia and belarus. it's a long list of big names walking away from russia. ashley: the seattle-based coffee giant suspending activity in russia, kevin johnson says the company closing its stores and will provide support to roughly 2000 employees will lose work. starbucks announced it would donate, taken it a step further

by shutting down operations. yum brands says it is suspending all investment and restaurant developed while assisting other options, the company has 1000 kfc restaurants and 1000 pizza locations all of them operated by independent owners. universal is suspending its operations in russia. and local labels and operations in russia, sony expected to announce their plans in the coming days was that list is getting longer and longer. stuart: i have never seen such extraordinary isolation,

ukraine's president, will fight to the end. >> we will continue to fighting for our land. stuart: there was a churchillian address the got a standing ovation. we will talk to the youngest member of ukraine's parliament. after switching to the farmer's dog we noticed so many improvements in remi's health. his allergies were going away and he just had amazing energy. it looks like nutritious food, and it is. i'm investing in my dog's health and happiness. get started at longlivedogs.com

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stuart: the dow is up 600, nasdaq up 350. that is a rally. there are some big movers. susan is back with us. what is living most honest market? susan: tell me if you find this surprising. tech growth names which he always have an opinion. you have been watching the markets so long, square up 10%, shopify up 10%, double digit gains powering the nasdaq. nvidia having a fantastic day and these are pandemic winners and when they are down 50% that is pretty compelling with the birth rate they put in. stuart: generally it is bounce

back time for some badly beaten stocks and the growth stocks are coming back. susan: have you looked at the 10 year treasury yield? this is surprising. in a higher rate environment you expect high growth stocks to be down. stuart: oil prices down a bit, but electric carmaker's upper. susan: some of these correlations have broken down, the recovery rally across the board, tesla is up, oil prices have dropped 4% today. the chip shortage will impact them for another year. the social media posts i have been looking at. tesla, terminating the deal,

why do i need someone to fit my tweets. susan: he's busy being the richest man on the planet running two companies. stuart: travel companies. susan: it is good for the airlines. stuart: american airlines at $14 a share. susan: have you looked at the data? eia data, no cushion in the oil market. since 2014. we are closing at 120. stuart: the cheap iphone, with 5g capacity is a big deal. susan: if you are paying $4 a gallon is that attractive to

you to get the same speeds and only paying $4.29 for cheaper iphone and that is interesting especially lower-cost countries like china and india which has 1 billion consumers. a new redesigned mac in some years, but apple fans, a superfast chip called the m one ultra and making the chip in the global chip shortage pretty aggressive on march 18th. maybe apple doing better than most. stuart: that chip, apple makes it themselves. stuart: they walked away from intel. look who is with us. gregory zuckerman, daughter of the trackers, the outrageous

inside story with the billionaire wildcaters. very interesting book. if we allowed fracking in america, just go at it, how quickly could we return to energy independence? >> the us is the largest producer of energy in the world and it is due to the fracking revolution, in democratic and republican administrations. and he continues. it is difficult for them. difficulties in the energy world in the us are due to wall street investors, they don't want people spending money. exxon and smaller guys. to create incentives to increase production in the us. i don't believe in working with venezuela or iran getting oil from these bad actors to hurt russia.

stuart: i have to ask if we had a crash program. how fast could we return to energy independence? >> i want to produce more. we are facing difficulties in energy. mostly there are labor, sand costs, short-term i am not that optimistic. we can start getting much more production or to create incentives. taxes, cutting red tape, there should be a deal, we will work with you and cut some red tape and tax incentives in exchange for producing things more environmentally sound production from the us as opposed to iran and venezuela. stuart: check this out. did the russians pay green

organizations to promote an anti-fossil fuel agenda? >> i believe that is the case and they knew what they were doing. they want to undermine the fracking revolution and those who believe in this revolution will say it is a way to transition to green fuels. we are not there yet. we need time and the russians knew this and wanted to undermine it and succeeded. europe is dependent on russian oil and gas. we are realizing what a mistake that was. stuart: thank you for being with us. what happens when a russian warship ordered ukraine to surrender. role tape. [speaking ukrainian]

stuart: we now know what happened to that russian warship and we will tell you after this. a major stop for refugees leaving ukraine. like towbin is there and we will file a report after this commercial break. 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.

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>> that is capitol hill. you barely see it, definitely not hot and humid. the house will vote today, it is 14 $.4 billion in aid. now you know. we reached a session-without us euros, 685 points, nasdaq up 400 points.

the price of oil down today, 116 is the price as oil comes down, looks like stocks. ukraine has agreed to a 12 hour cease-fire to allow civilians to escape through evacuation core doors. like towbin in lviv. >> reporter: a bright spot in dark times. one of these humanitarian core doors has worked and the people got out. it is near the russian border very near kharkiv where the fighting has been so bloodied. there is a university in sunni with a lot of universal students, they've been 10 pins down since the start of the invasion was there was a break with the humanitarian

cease-fire and they made it to the western part of the country. >> explosion every day. not the best site for anybody especially someone that came here. >> explosion, a loud one. it was terrifying. we are happy to be out of the city. >> no plans for where they will go next or what they will do. foreign fighters joining the resistance. the former soviet republic of georgia, the leadership of that nation is allied with larry. the opposition fighting with the ukrainians. at a secret location in ukraine volunteers with the georgia international legion join the fight was they believe of russia takes ukraine all former soviet states are at risk.

>> one angry crazy man. >> reporter: the us combat veteran. >> they have will to fight and we will teach them what we can in as little time as we can to kill anyone who is trying to kill ukrainians. >> reporter: they are ready to fight and give their lives on soil it's not georgian. >> ready for any consequence. this is for georgia. >> reporter: this is a very secretive group. they are doing technical military drills but they get pictures of the digging. stuart: thanks, see you again soon. new video shows devastation after russia bombed the children's hospital after zelenskyy vowed to fight to the

end. >> translator: we must not give up. we will fight to the end coming in land, at sea coming in the air. we will continue fighting for our land, whatever the cost. stuart: a young member of the ukrainian parliament joins us. last time we saw you you had your gun with you, your rifle. you still have it? >> yes. the situation in kyiv, planting reconnaissance agents, you never know when you have a situation. stuart: are you confident that zelenskyy can lead you to victory and if you achieve victory what will it look like? >> zelenskyy's support has never been higher. as far as the leaders,

criticizing them has a long tradition was for us to see try tbeart t will the jn inn ur vehe p t pasur ng lea t lhiew lhithng tant btaragetataf ck of o givingngvi whivitohi do.to do.. sthow storale

western supply they are waged every day and we are beating them back and giving the lifeline to the west very much a reality and we are keeping the lifeline open and we are pushing back in different locations. that big column is waiting for the attack. we are preparing the city for defense and different instruments to destroy that. stuart: the youngest member of ukraine's parliament, 26 years old. thanks for being on the show, good stuff. back to the market, look at the dow 30, 29 of them in the green. only one loser and the dow at 10%. the national average for a gallon of gas $4.25 which inflation will cost the average family $3000 in extra costs. we will break down those numbers after this.

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stuart: remember the ukrainian soldiers on snake island who said f you to the russian

warship? role tape. [speaking ukrainian] stuart: quite a moment. ashley has an update on the russian warship. ashley: still makes me laugh lose the russian warship has been destroyed in battle. the group of 13 ukrainian soldiers refused to surrender their post despite russian warships that opened fire on their position. reports they it was hit and destroyed by land-based ukrainian forces defending the port city of odesa. those soldiers on snake island were initially believed killed in the shelling but they survived. but they were taken captive by the russians. but their heroic story the stuff of legend.

stuart: like the battle of the bulge the guy saying nuts when they told him to surrender. the average price of a gallon of gas is $4.25 per gallon, up $.59 in the past week. madison allworth, will this make everything as well as gas cost more? >> reporter: it really is. not only fuel you fill your car, the us to permit divinity estimates 6000 every day items derived from oil. when it costs more to produce those items it costs more for you to buy them. looking at what crude oil was seeing, $115 and with a higher price the price of gas is going up, looking at $4.25 at the station behind me, charging

$4.29 when you pay cash. 15% of every barrel goes toward producing everyday essentials so those cost more too. anything packaged in plastic is more expensive because it is made of petrochemicals. beauty farm goods because fertilizers use oil. this is going to be felt everywhere. >> that does go down to the supply chains with different products but impacts

everything. >> reporter: with the increase in oil you see an increase in diesel prices. if amazon, ups, fedex cost more to philip, oil experts telling foxbusiness you could see an increase in delivery costs. this is hitting americans every which way. stuart: i drive a tractor. i'm a farmer. it is hitting all farmers who use diesel. look at the time. 11:55. time to check the markets. the rally proceeds come up 700 points, up 400 for the nasdaq. you are up 100 for the s&p. 11:55 and 22 seconds was the wednesday trivia question. how many states have more than one time zone?

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stuart: all right. i think this is a good question, how many american states have more than one time zone? ashe, come on, take a guess. >> well you know, there is eastern, central, mountain, pacific. then there is alaska has 20 by itself. i'm going for the highest number 17. stuart: i went for four, the lowest number. the earns is, 13 okay.

i got a map. just reminder daylight savings time starts on sunday. clocks set forward, spring forward by one hour. this early sunday morning. now we know. i got to tell everybody, ash, the dow industrial average is up more than 700 points. you and i have been sitting here for three hours looking at a great rally, we love it. neil, it is yours. neil: you know what is weird about this rally, stuart, if you think about it, relief oil prices come down. they're still very, very high. good. i'm going to say your show stinks, i don't want anything to do with you. kidding. always love that. stuart, it is revealing the dow running ahead here. it is based on declining prices for oil. they're still way, way up there. but we had gotten used to, 130-dollar oil, 140, 150, 180.