to see if anything is out of it. yesterday the focus on reiterating the support of nato and thanking the countries along the border for taking refugees and to that point, maria, we have been covering the refugee crisis, total number of refugees now top two and a half million. maria: great reporting as always, connell mcshane, thanks for being with us. dagen mcdowell and steve forbes. jackie, take ait away. jackie: more devastation in two ukraine overnight. multiple casualties reported. satellite images show the 4-mile long convoy on its way to kyiv and has dispersed. it has repositioned along tree lines and neighboring town. we will take you live to kyiv

for the latest. the refugee crisis growing by the minute. the united nations saying that 2 and a half million ukrainians have fled since russian's invasion. president biden will deliver remarks, we will take you there live. meanwhile, what was so funny? vice president harris laughing oddly during joint press conference with poland's president. the laugh came when they were talking about refugees, nonetheless. tammy bruce is going to take that on for us. let's take a look at the markets right now see how we are position today open. looks like it's a higher open on wall street. dow indicated higher by 232. s&p 500 by 33 and take a look at price of oil as well. it's up about a penny, 106.03 for wti and gas prices rising again overnight, average price for gallon of regular gas is at

4.33 cents. the administration trying to desperately blame russia's putin for the rising prices but let's take a look at the facts here. russia invaded ukraine 16 days ago, so how do they explain gas prices being up 85 cents in a month, a dollar 50 in the last year? we will take that on. big show aheaded to. it is friday, march 11th, 2022. varney & company is about to begin. ♪ ♪ ♪ jackie: 40-mile convoy has dispersed as russia expanded attacks in the western part of the country. president biden is going to speak at 10:15 a.m. eastern time. fox has confirmed that the president will revoke normal trade relations between the u.s. and russia and i want to bring

in christian whiton. christian, it's a step in the right direction but 16 days into this is a little late, is ending normal trade relations is enough to deter putin? >> certainly not, no. putin is going to do what putin is going to do. he has consolidated his position in ukraine and is repairing to move as you mentioned on kyiv and other cities, there are important negotiations going on and that's one reason futures are up right now, it's because putin made a passing comment that implied the talks while they're not going on currently seemed to be making some progress. he made that comment with president of belarus lucas shinko while visiting moscow. that doesn't really impact major energy exporters, that's more of a thing where we have significant bilateral trade where you have dozens and dozens

of scores of categories of tariff codes and things like that, it's not going to affect what's left of russia ability to export which is a significant ability. jackie: if putin, in fact, did make the comment. everybody is speculating only a solution that would allow him to safe face would allow him to back away on what has happened here, what do you think the kind of solution would be? >> i think it would be more than saving face. he does have his opponents capital surrounded? he's in a strong position. we can say, gee, this war has dragged on for more than two weeks, that's a long time if you compare to 1991 when we invaded or liberated kuwait or 2003 when we liberated iraq. what putin is going to likely want and the sticking point of negotiations are significant part of ukraine. he wants what has been

previously occupied in donbas. he's going to have want crimea and the questions ukraine will have to agree not to be part of nato ever and likely will have to engage in some or become some sort of status of demilitarized. it's unclear how far that will go but these are the things that are probably on the table. needless to say ukraine is putting a brave face and rally the cause of defense doesn't want to air in public what it is considering in conceding. jackie: we see what more we learn about it, christian, there are more than 40 republican senators that are calling on biden that could help them a lot. any signal that is the president is willing to do that, we haven't seen it so far? >> no, and poland is unwilling i think quite reasonably unwilling to stick its neck any further. this was something that should have been kept quiet and covert. it's weird it came out into the public places.

poland, you see handing aircraft in the light of day that could attract military attention so poland wanted all of nato to agree with that. it wanted to transfer the planes in u.s. base and have us hand them off. that's why it fell apart. i don't think that's going the happen. the discussion is whether we can provide with air defense systems including old soviet systems held by countries like greece soviet-built air system. jackie: no-fly zone. thank you so much. more major companies are abandoning russia. good morning to you, susan. susan: we are talking about disney being the latest to take steps to pause all business in russia and they were going to pause on the movie releases but this will include licensing of all content and products. disney cruises, national

geographic and linear channels and music companies, live nation also cutting ties to russia as well. that means no concerts and ajr. yesterday the headliner was wall street firm, goldman sachs was the first to lever russia. jp morgan are making plans as well and burger king also planning to join mcdonalds. the list is long as you can imagine. they are not supporting any of russia originated as, not big part of their business so really not a stock-moving kind of story but what i found really concerning for the international corporate community is when putin said that he would transfer assets and property from companies leaving russia to ones that will stay including local ones. that's pretty much nationalization. can you imagine the confidence being shaken from global -- the global conglomerate. who is going to invest in russia once again if they are going to make this type of move even if

things -- if there's a ceasefire or end to the war? jackie: absolutely. it would still be threatened to be on the ground there because they don't know what he will do. susan: 30 years of progress gone in two weeks. jackie: thank you so much for that. let's check on the futures and bring in jonathan, green across the board as far as the market has indicate today open but we have watched the wild swings on wall street as a result of the conflicts overseas, jonathan. one of stewart's favorite theme, where can i find opportunity even when it seems scary, what do you think about that? >> very scary. it comes down to, of course, your own context. if you are truly in it for the long-term, even 5 or 10 years out, a communist russia or china are no threat to a free america but stocks right now as asset class they are quite weak. i mean, despite this morning's bump you have about 77% of stocks still below the 201-day moving average.

generally the trend for stocks worldwide still down. what's frustrating is that bonds are also quite weak. 10-year and 30-year hitting high. stocks and bonds are weak and i will borrow a little bit of iteration that i don't think cash is trash right now, jackie, tremendous amount of optionality and dollar is the strongest currency in the book. both stocks and bonds are pretty sick. jackie: we have been watching oil prices, over $100 a barrel but retreating from the high that is we have seen in the last few days, jonathan, everybody is pointing out, all of the experts and students of history essentially that every time we see oil prices rise in this way it indicates that a recession could be coming. jonathan: you've watched the commodity markets for years now. that's probably the strongest asset class in the book right now. the big moves take time.

gold from 2000 to 2013 went up almost every year. a number of different stories, war, the politics. this could be a multiyear move for energy, precious metals and the conflict in europe is one basic point. so i think you have to look long-term and avoid decisions because if we are headed for a recession, you will see in price action itself. if the market really cracks up here and it could, that's the best indication that we have that a recession is coming. jackie: we will be watching, thank you so much, always great to see you. meantime the white house dodging questions over how long this inflation will last. susan, jen psaki, she's passing the blame to russia? susan: psaki was pressed by fox's peter doocy and asking how long was temporary, here is the exchange. >> we just heard you say again that you think inflation going to be temporary. we heard you say inflation since

last spring. how long do you think inflation temporary is? >> their assessment at this point continues to that that it will moderate by the end of the year. susan: you heard from treasury secretary janet yellen who used to head up the federal reserve and said the high inflation will be here for at least this year. and she did say she didn't see a recession coming which i thought was interesting but goldman sachs this morning says that that possibility of a recession which is two quarters of negative growth as high as 35%. and also cut gdp forecast 1.7% this year. that's down from 2% growth. jackie: they are having a rough time, making hard decisions, putting food on the gas, putting gas and manage household and family. it's rough. susan: i don't know if you drive. a lot of people complaining about how much filling up gas

tanks at the pump. from 70 bucks to 90 bucks. jackie: quick check on the futures as i said. markets indicated higher but for the open, we will be watching that and we are watching kim kardashian. advice for women in business but the message is not exactly going to go over that well. roll it. >> i have the best advice for women in business, get your -- and work. nobody wants to work these days. jackie: does she have a point? we are on that. in the meantime don't throw away those masks just yet, tsa is requiring travelers to mask up for another month. is it really necessary, we are going to ask a doctor after this. ♪ ♪ ♪

jackie: welcome back, masks are coming off just about everywhere but not the transportation and tsa keeping the mask mandate for another month. let's bring in the doctor. doctor, always great to see you. big question if the mask mandates are still necessary at this point? doctor: morning, jackie, good morning today. it's okay to cake off masks in restaurants and indoor spaces and they tell us to mask up on planes when airplanes have high efficiency filters and probably have safer air than the restaurant or the mall when you are in large crowds. it's the consistency that bothers people. cdc says so they can get their policies in order. what's going to change in another month? actually if anything, things will hopefully will continue to

get bother. that's what bothers a lot of people, how the rules seem to change on the fly and depending on which way the wind blows. jackie: you sit back and say to yourself, it almost seems like keeping mask mandates in planes even on the transportation vehicles as you say have better filtration, for example, it fuels the fear. doctor: that's correct. and i think fear is what's driving a lot of this and just as people are starting to try to get back to their lives, cdc says, well, not so fast, not so fast. we need to start relaxing things, the case load is way down, cases are far lower than they were a month ago, so i think we have to continue to push to try to get back to normal. >> and, doctor, in the last second that i have with you, the little kids out there, the children staying with mask mandates, nearly 2,000 attorney generals are asking to end mask

mandate across the country. do the little guys near to wear the masks, it doesn't seem they do? doctor: no, they don't. it's hard -- it's hard enough to try to get the kids to wear a mask that really isn't doing anything. the mask that is they are wearing are completely insufficient to stop really anything. they don't fit their faces properly and they really don't do anything anyway. the simple answer is, no, get the masks off the kids particularly 2 year's old to 5 year's old. let's just get them off. jackie: a lot of parents are saying that. thank you so much. doctor: thank you, jackie, have a great day. jackie: you too. the pandemic had a drastic impact on the reading level of students. we know that there's been a lot of damage, susan. susan: we are talking about historic number of students falling below the reading benchmarks and a third of those in first grade, over 40% in second grade and these students were at risk of reading difficulties. so as you can imagine, that's up significantly from the pre-covid levels and before schooling went

remote. so that also means which i think is pretty scary the majority of students are in high or medium-risk groups of learning difficulties and that number is at 65% if you combine the first and second grade. that's pretty scary, don't you think for the future of america? and they say children are so young that it's hard for them to connect and connect to devices when they are stuck at home. jackie: no plans on how we are going to catch them up and get them where they need to be. the children are literally our future. you sit back and watch this, not only is it sad but -- that's a great point. and susan, also the pandemic worsened anxiety and depression. susan: so we are talking about 25% according to w.h.o., loneliness, isolation, fear of infection they say, grief, financial concern cited as factors and young people and

women in particularly, so exhaustion was also a major trigger for suicidal thoughts for healthcare workers. these are the frontline workers that are trying to deal with the pandemic. according to w.h.o., 90% of the countries have recognition of the mental health needs and are working on it. jackie: as an adult that would understand what was happening i experienced a lot of those feelings too. you think about how the kids are trying to figure this all about and understand it within the world order, for some of them it's all they know especially the super little guys that have been wearing masks at school. susan: and the parents too trying to pass on the positivity to their kids. they are the ones also experiencing some of the anxieties and depression that we just talked about. you know, that trickles down. jackie: it sure does. susan, thank you for that. as the pandemic begins to wind down, the airlines have to grapple with spiking fuel costs as if they didn't have enough

problems. grady trimble in chicago for us. grady, have the airlines made any indication that they will raise fairs on consumers because that's what i fear is coming next? reporter: it could come online but related to international flights, particularly flights from the united states to europe. the folks at hopper tell us that searches for trips to europe dropped 90% and decrease demand has led airfare demand to climb 16% for those flights since just last month. most airlines are protected from the short-term spikes in oil price because they hedge their jet fuel costs. still some airlines like alaska air and allegiant are cutting flights because of price. and domestic airfare would increase 7% per month through

june. they say that forecast still holds and the war won't immediately impact domestic airfare but the longer it drags on, jackie, if it continues especially into the summer time, that's when we can see increase airfare for domestic flights. jackie: grady trimble thank you so much for that. that's when gas prices go up and people hit the road too. quick look at the futures. we have the opening bell coming up next. ♪ ♪ ♪ ♪ ♪

jackie: welcome back. let's get to your money and bring in dan sazuki. dan, good morning to you. you say there are risks in the market. they are higher this year. should i just hold onto my money instead of investing it right now? jonathan said cash is king at the moment. >> good morning, jackie. yeah, i think when you step back and -- and, you know, remove yourself from the day-to-day volatility, the reality is -- the market is essentially where it was 5 months ago. so if you were comfortable with your allocations 5 months ago, you know, i'm not sure why you would get more excited in investing in the market today when the fundamentals are

deteriorating. i think one thing that's critical for investors to realize is that, you know, a lot of the selloff that you see in this correction, most of us was place before russia and ukraine was dominating the news cycle. whether this gets resolved, it doesn't change the fact that you have expensive market and likete liquidity is tightening. i think those are areas that do not see people rushing -- people shouldn't rush to take advantage of the pain that you see in those areas of the market. jackie: let me ask you this, we got the cpi number yesterday, added 7.9% year over year, we have been watching gas prices soar, food prices soar, prices of cars are soaring, consumers are getting squeezed at this point and there's a fear in the marketplace that that would have

a chilling impact and chilling effect on the overall economy and that could trigger a recession. >> yes, so i mean, i think -- you know, it's very clear from all of the data that things are slowing. we are coming off of surging profits and things are certainly slowing and eventually we may end up in a recession at some point. the reality with the fed having let inflation get to where it is. highest levels in 40 years, the reality is they may actually have to put us into a recession to -- to rein in inflation just from you saw from the fed in the early 80's. the economy is so big and doesn't move that vast. the reality that we are seeing right now is actually pointing to resilient strength. i don't see it happening any time soon. yes, the yield curve is flattened but not inverted. people filing for unemployment

claims is not going down but also not going up but we are in the midst, the early stages of probably the biggest and most sustained reopening of our economy, you know, since the pandemic started. jackie: dan, in the last 10 seconds, do you think the fed hike next week, expectation is yes, quarter point? >> yeah, they've been -- they telegraphed pretty strong. not the 50 but the 25 makes a lot of sense. jackie: we will be watching for that and watching the fed what else they do coming down the line. we could see a series of rate hikes. meantime let's take a look at where we are opening on wall street. the dow is up by 177 points at the opening bell and i want to take a look at the dow 30 stocks. you can see pretty much dominated by green there. a couple of companies in the red but we will watch how this shakes out because we have seen volatile swings on an inter-day basis. open one way and you don't necessarily close that way depending on what happens during the day. here is the s&p 500, it's up 24 points at this time. i want to take a check on the

nasdaq as well and how technology is doing. it is higher by almost 3 quarters of a percent. 94 points, we are also showing you some of the big-tech names, mostly in the green. you have microsoft, apple, alphabet, amazon, higher this morning, it's meta that's going a little bit lower by one and a quarter percent but i want to take a look at rivian. susan: was worth a $100 million. the 25,000, the delivery number is half of what they said they would produce during ipo road show last year. guess what they are blaming, supply chain issues, internal production snags. now the stock is raiderred. we are talking about 52-week low. that's wiped out $117 billion in value. here is the good news, i don't know if you want to take it away as good news.

reservations reach around 83,000. that's up around 10 grand from the end of december and losses, of course, we are talking about $5 billion in losses to end last year. 30% more than anticipated. jackie: that's a lot of money wiped out. i hope stu wasn't in that one. susan: also george soros bought in. i think the takeaways, more sales in the future and penetration but you really have to be careful what names -- what you're buying into. jackie: yeah. makes a lot of sense. take a look at docusign, big pandemic winner. now they are falling short. susan: guidance was weaker than anticipated and sufficient growth -- it's slowing with more people going back to work. i didn't think that was surprising. the stock price, 2021. the stock to own. it tripled in that year but you're already down a third this year. you're down by 30% last year. they are trying to prop up the

stocks somehow by buying back $200 million but doesn't seem to be working. jackie: no, a lot of the pandemic names that the zooms to have world, the pelotons of the world. susan: i'm trying to think -- so many pandemic winners that have been losers so far this year. jackie: all right, let's take a look at oracle as well, they had the big earnings miss. what was the story there? susan: the fact that it's flat is not bad. guidance that people were moving more toward the cloud was probably the bright spot but two investment that is really dragged on oracle to end last year. they own the gene sequencing company, oxford and chip makers called ampier and the headlines that reuters reporting that oracle may not be buying tiktok after all but store their data here. jackie: interesting. we will see what happens there. i want to take a look at

blackrock. they lost a huge chunk of money due to exposure in russia. i believe stu is in that one. [laughter] susan: he always brings it up. there's always a black something that we are discussing. so we are talking about $117 billion in counting in russian losses and despite the fact that they have froze all purchases and any business in russia on february 28th. now that was the start of the invasion when they said losses were what a billion dollars, so this might be 17 billion more according to financial times. but i would say it's in the a big deal for a company that manages $10 trillion but this is only .001% of total assets you should management. this is something that blackrock can be insulated from. jackie: the chinese stocks too, something to look at today. susan: they are all over place. didi global. really negative headlines there because they were looking to shift their ipo and their shares, holdings to hong kong,

according to bloomberg reporting, chinese regulators may not allow that to happen which is pretty difficult given that we know that beijing has been looking at didi because of their data sharing and privacy issues but the rest of the china stocks are recovering from their worst drop since 2008 because of some accounting standards but they may not be able to meet and therefore be delisted from the u.s. stock exchanges and that does include yum china which operates kf's and pizza huts in the country. jackie: you look at the stocks and you think about what is happening overseas, the relations between russia and china, how much xi jinping is working behind the scenes with vladimir putin and you wonder if you want to be invest there had as well. susan: well, you talked about volatility and i will say that that is obviously very -- very prominent given what we saw the best day since june of 2020 and

worst day of 2020 and the stock swings are pretty violent this week. jackie: wells fargo seeing upside for deere tractor folks. susan: we talked about this, having to get better skills or higher skills in order to find a job with robots coming in. according to wells fargo, they are calling 20% and it's worth 455 but you have a lot priced in because of the call. jackie: the dow, susan is up 300 points. i want to take a look at the winners that we are watching today where we are with this. we are seeing dow up, boeing, cisco, walt disney, they are all trending higher. s&p 500 winners were watching. you have names on there. moderna is one that we look at all. applied materials.

susan: a lot of the solar panel makers have done well. jackie: nasdaq winners, nxp, we are seeing vertex pharmaceuticals. we will continue to watch these because this volatility, it is something but the market is up by 283 points as we speak. and i want to look at, you know, the rest of the market, get an overall picture right now. the year on the ten-yield, higher than 2%. and you can see it's up about .8 basis points, checking on gold prices, sitting under that 2,000 mark, 1976, bitcoin 39,520 taking a hit today. oil prices slightly higher but off of those big highs. 107.51. gas is approaching the 5-dollar mark as well. certainly something that we will be watching with the crisis oversea. average price for regular gallon has ticked up 4.33. in california it's 5.72. and that is hurting american

consumers. a laughing stock, vice president harris couldn't hold back the giggles when asked about ukraineas refugees during her trip to poland. roll it. >> is the united states willing to make a specific allocation for ukrainian refugees? >> a friend in need is a friend in need. [laughter] jackie: god, that laugh, you think she would learn by now. tammy bruce has a thing or two to say about that coming up and china reportedly alarmed by russia's brutality in ukraine. you know, it's bad when even china calls it brutal. we will take you to kyiv for the latest in the next hour. papa john's growing a long list of companies cutting its ties with russia. the founder the chain is here.

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jackie: inflation has been painful and forcing some restaurants to charge customers more. gerri willis in new york. gerri, how much more did he have to hike his prices? >> good morning, prices are higher 15% year over year and that's taking the most expensive items off the menu like steak, ribs, they are seeing increased prices for absolutely everything. we saw those cpi numbers out yesterday, consumer price for february. restaurant prices up 7.5% overall. let me point out that a lot of those restaurants, big chains, so they have a lot of buying power. here is scott doing the buying and he has to negotiate on his own. he's not covering his costs right now with a lot of price

increases. what are you seeing in price? >> some of the things that have been problematic, things like beef. we don't have steak on the menu anymore. beef is up 14%. bacon and other staple item up 19%. eggs up 11% and those are just the leaders right now. >> oranges are higher, citrus is through the roof, bread. i have to ask, how are you coping with this, how long can this go on? >> that's a really good question. it's about doing the best we can. we don't want to raise our prices too much and alienate our customers and hopefully we will see the numbers change in due time. >> it's a great restaurant. i hope you see the numbers change. i will point back to you, jackie, adding insult to energy, scott is facing higher energy costs. this one has $12 a charges,

costs higher trying to cope in dobsberry. jackie: i'm guessing he is saying labor costs rise too. thank you so much for that. papa john's just suspended corporate operations in russia. the company's founder john schnatter joins me now. john, good to see you. what do you make of companies pulling out of russia. they are saying it's short-term, it's a pause for the moment. >> well, i think it's the right thing to do. the question before the house is a little too little too late. we have known this guy was going to pull a stunt like this, they had tanks moving that way for almost a year. great leadership is spotting a forest fire when it's a brush fire and now we have a forest fire when we should have been dealing with it when it was a brush fire. jackie: you know, you say that there was no way that a company like papa john's could have ever started a business under the biden administration.

he has not been friendly to many. make your case, explain that to us. >> well, it all start with attitude and start at the top, whether you have a tony robins, whatever you have, it always is a positive attitude. reagan, trump, even bill clinton to an extent was probusiness. he had a positive attitude toward small business. this administration for some reason does not like small business and small business is the heart beat of america. jackie: it's really interesting when you see what is happening to take it back to the russia situation. you have a company like mcdonalds, for example, saying it's going to suspend its operations there for the moment. it's costing them $50 million a month. even if there is some resolution here, you know, vladimir putin is not a great guy and he doesn't seem to be going away as the leader of russia and so to see these companies then at some point go back and continue doing business there, what do you think of that?

>> well, i think principles are all about courage and courage are all about principles. i think they are interrelated. my biggest rub with the present leadership of papa john's is they don't run the business on principles. it's in the a principle-centered leadership. papa john's could have been leading this. starbucks, mcdonalds and coke suspended operations and then papa john's didn't do the right thing because it was the right thing. they did the right thing because they wanted to look good and that's not principle. jackie: john schnatter, good to see you this morning, thanks for your insight. >> thank you. jackie: back to kim kardashian because she's getting backlash after offering advice to women in business? susan: i would like to hear your perspective from an accomplished perspective. she used an expletive but maybe for emphasis and take a look at

what she said and we will react on the other side. >> i have the best advice for women in business, get your and work. it seems like nobody wants to work these days. you have to surround yourself that people that want to work. susan: well, i was thinking -- she used the f bomb. jackie: she did. susan: visceral backlash on social media because some said, being born rich actually helps kim k. you know, you also have people say that international women's day are telling poor women to work harder but she had all of the advantages in life. who is she to tell us to work harder but kim thought she was disrespected because she works hard for her money and fame. jackie: it's all relative and they do work hard as a family. chris genre is the mama bear that pushed them all out there and could have road the fame of the reality show and all started

businesses, kylie jenner as well. work hard no matter what your level or situation is. work hard. i didn't need the f bomb. susan: she said nobody seems to want to work these days. that was a trigger for a lot of people. there should be recognition as well that not everybody has the same sort of socioeconomic benefits that she grew up in with the famous father. jackie: i hear you, post-pandemic it was hard to get people back to work especially when we were handing out those freebies. susan, thank you. president biden likes to encourage others to go electric but does he own an electric vehicle? it's a good question, hard to get a straight answer here. another example of do as i say and not as i do with all of the market volatility as well is big tech, still a sure bet. i'm going to ask a top tech analyst mark mchaney. coming up next.

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if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 jackie: welcome back, let's take a look at big tech and bring mark mchaney. let's start with amazon because we saw the 20 for 1 split.

do you think it's going to 4300? >> i do, jackie, happy friday to you. you want to be careful about growth equities for the near term, there's no doubt about that. these are not safe havens. these are the best business models that you can find that the u.s. has ever produced, amazon, google, microsoft, apple but until the market comes back to growth equities and i don't think it really will until we get more visibility, confidence in what the interest hill that we are all going to be climbing, i don't think the stocks will outperform. that said, if you have a 12-month out perspective you buy assets because they are the highest-quality assets. amazon bows to 4300 in 12 months and what was interesting that they bought back stock first time in a decade that amazon has been buying back stock. that's a signal that the company is confident about its future. jackie: let me ask you about interest rates. where do you stand on this? >> i don't have -- i'm not a fed

strategist. if you're a tech investors six months ago we thought there was going to be one hike, the number of hikes continue to rise. tech stocks, growth stocks can work in a rising rate environment not as well in a falling rate environment. you need some certainty over the path of those increases. i think that's probably going the take two fed meetings for growth equities investors to really come back and take positions in some of the stocks but, you know, you get the biggest best assets trading off on sale, those are the ones you start on buying. jackie: that makes a lot of sense. let's take a look at google. 3,500-dollar price target? >> it's been a phenomenal stock. it can be still be a phenomenal stock. they have great margins. they started getting traction with google cloud and one of the companies that's most immune to that is google. they have a dominant, strong position that habit changed in 15 years i've covered google.

i don't think it's going the change in the next 15 years either. you have asset with really powerful presence in search and as long as they keep having youtube is building out as kind of the next generation, this generation's tv, they have great advertising assets. the one issue across both of the companies by the way across consumer is exposure to europe and exposure to ukraine. it's small single digit percent but it's going to be a clipper. jackie: this could potentially be a rocky year for those reasons. mark, good to see you. still ahead, congressman tammyc. coming up next. ♪ ♪ ♪ big picture, even when you're focused on what's happening

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>> the synagogue eastern time. let's get straight to your money and the markets. could be a volatile session was we've seen a turn in sentiment, the dow is trending higher and so is the s&p 500. we are watching the coin prices

trending lower by 415 and oil prices on all our minds, $106.71, less than 1%. we got the latest read on consumer sentiment. susan: 59.7, lower than the decade low read we got for february, lower than 67.2 we saw in the previous month but this is real-time data. how confident are consumers feeling in march? they are not feeling great. jackie: 7% inflation will trickle into consumer sentiment. it is a lot for people to take. vice president harris just wrapped up oppressor with the president of romania. she was asked about inflation. she punted on it, avoided the question. i'm not surprised, this is a vice president who doesn't answer any questions if you ask

me. >> sheep ands on everything and that is the problem. people notice the nature of her style is a lot of filler words, that don't answer any questions. the other question she didn't answer was the immigration in poland and all over that. there is a way to speak to what is happening without giving specifics, owning the issue. she's a middle-aged woman, the vice president of the united states. what is shocking americans is she doesn't have a grasp to do the most basic thing. she has been in public office. she's a prosecutor and attorney. we wonder what is the problem. it's not just one trip. this is consistent. this is who she is. punting on the issues especially with inflation, we

all have opinions, she should be able to touch on that. jackie: she had a different tone today. i want people to see this again. >> i wanted to know if you think, if you asked the united states to is acceptable refugees. >> okay. a friend in need is a friend indeed. jackie: people have said to her don't do that. the vice president of the united states -- >> the worry about that exchange, the camera caught his hand. what she did was embarrassed him. she wasn't just deflecting for herself, she looked at him and

said this is yours. she's the guest, she is there for a reason. the press conference is happening because the american vice president is there would he could have had his own press conference. they didn't need kamala harris, you answer this and that is when you saw him becoming uncomfortable and that was that exchange. it was beyond her giggling herself through a difficult answer, clearly and prepared. she then put the host, the president of that country in the awkward position, a friend in need is a friend indeed. a remarkable kind of shaming or embarrassing that president during a time of war. their country stepped up. the question was for her, the third question was to him about the immigration dynamic and that was her response, the kind of superior attitude of looking

at him like she is the boss, she is not. this is supposed to be about unity from allies working together and she accomplished the opposite of that with that smug look like okay, like she's mommy. it was embarrassing. that is her nature, it is why -- she has a staff that continues to leave. jackie: as why she doesn't take the stage much. they put her out when they don't want to come as a buffer, as a shield. >> even with her knowing what her problems are if she pushes for that, she went profile. they must have the courage to put somebody out to do the job. jackie: keep a straight face and answer the questions and be diplomatic. zelenskyy's former secretary slammed vice president harris.

>> she wasn't missing words on twitter. it would be a tragedy if this woman won the presidency. we all saw that video and it is awkward, the vp is trying to shore up alliances with nato partners. jackie: goldman sachs their forecast for this year and they also said recession. >> 35% chance of recession this year, 20 to 35% says higher than that if you talk to other analysts? looking at 1.75% gdp growth down from the earlier guidance of 2%.

high oil, high agricultural prices, drag on disposable income, confirmed with the michigan sentiment index and you thought you couldn't go any lower, a brand-new decade low. we saw the same thing. jackie: americans don't feel good about this and it is reflected in these numbers but i want to bring in kenny palkari. not much of a turnaround in the nasdaq but the dow coming off of session highs up 136. when we started you never know what you will get these days, open one way, close another. >> it shows how anxious the market is because it response to every headline. when futures are penetrating flat, from vladimir putin, maybe some movement in diplomacy and futures rally,

better than 300 and is there any validity to that, push its way into that. jackie: the first thing i thought, he is not a dumb guy, could be a red herring. it would take a lot to get vladimir putin, in the current position he is in. you wants territory, land, he wants something from this and he has nato and the united states scared to do anything for fear of provocation and he realizes he has a runway to play this however he wantss. >> he does want territory and is trying to put back the old ussr. the fear is where does he go after ukraine? who is next? latvia? lithuania? the rest of them?

the fear of provocation, he has already threatened it, potentially threatening to press the button, has everybody in place which is very uncomfortable for everybody, driving the diplomatic conversations. jackie: we don't know which direction it is going to go. we are in day 16, oil prices soaring $100 a barrel and supply hasn't diminished yet but shifted around the globe and this is the increase you see in oil prices but expert says that indicates recession is coming. we can see consumer inflation numbers, they are not going away. >> inflation is only getting worse. if they thought the numbers were due to vladimir putin which is naïve, you could argue

-- next, watch out. jackie: it wasn't included in these months. >> that brings up the next conversation about where is the fed now? yesterday numbers were hotter, expected to be hotter again so could the fed, even though j powell said 25 basis points, could the situation change so much they decide they need to get in front because in my mind they are in the back by 50. i don't think they will do it in march but they set themselves up to do it at the next meeting. jackie: it is not a fun job to have when dumping all of this in your lap. good to see you. regulators in the eu and the uk opened antitrust probe into meta and google. susan: you covered this, the story that meta-and google were

combining to kick everybody out of the digital advertising space, 80% to 90% of digital led space to the eu and we are bit slow in the us to get these investigations, looking into filing fees probes, the eu is looking at whether or not these tech giants combine to kill off other competitors. they will say this deal was not exclusive. everybody knew about it so it is not necessarily collusion when they didn't feel they are giving anybody else any great discounts or preventing anyone from entering the market. >> meta-opens lower trending lower, alphabet turning into negative territory slightly. the white house wants you to believe vladimir putin is to blame for record high gas prices.

>> president biden: vladimir putin app stores hurting people at the gas pump is i will do everything i can to minimize the price i get home. >> you might have noticed your gas prices have gone up. it has to do with vladimir putin. jackie: even a former obama economic advisor admits this is biden's inflation and he needs to own it. republican senators wanted this administration to send fighter jets to ukraine, the pentagon warnings would escalate tensions with russia. pennsylvania man says we shouldn't be scared vladimir putin, vladimir putin should be scared of nato. he joins us in the next hour. vladimir putin's forces closing in on ukraine at capital city, kyiv. we have a report next.

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10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious...

and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. jackie: president biden to speak any moment. he will call for revoking rush's most revered nation status in conjunction with the eu and g7 countries. quick check of the market, the market in pairing the gains, the dow is up 121 points. a lot of steepening and the massive russian military convoy outside kyiv is regrouping. they moved into firing position. how close are russian forces now?

>> reporter: russian forces are within 10 miles of the capital of kyiv. according to new satellite images those russian forces were in a long convoy with tanks and artillery units, they've dispersed and redeployed. troops have taken up new positions in neighboring towns and 3 lines. the artillery units are moving into firing positions. russian forces are destroying homes and lives in their path. we just returned from the front lines and have this report. 63-year-old vitali is one of the residents stuck in this town but he hears russian shells exploding nearby, he can't see the discretion. >> i am absolutely blind. >> with no software markets open it is tough to get supplies. were retaliated nearly impossible. >> i hear explosions, i'm

scared but what can i do? >> reporter: this town is controlled by russian forces at this moment and they are showing different ukrainian positions trying to increase their gains. it looks like a ghost town, splintered buildings line the streets, the aftermath of russian attacks, further evidence of indiscriminate shelling and airstrikes. on the front lines, russian forces are planning neighborhood, part of a scorched-earth used by the russians to kill civilians and push people out of the way to move troops forward and advance on the capital of kyiv. ukrainian officials are accusing russia of targeting neighboring belarus, saying russia wants to blame it on ukraine and drag belarus into the war. jackie: thank you for your excellent reporting on this, stay safe was vice president harris says war crimes are happening in ukraine.

>> we are clear that any intentional attacks or targeting of civilians is a war crime. period. jackie: joining me now ukrainian parliament member, good to see was vladimir putin committing war crimes which kamala harris acknowledging it. your thoughts? >>mariupol is my native town. two days ago the child hospital was bombed by russian bombs. three people have been killed,

a lot have been injured and i'm sure there is no militarization of this hospital. it was just a child hospital. my mother worked here, my grandmother worked here. it is not a war crime i don't know what this should be. so now there is no water in mariupol, no electricity, no food. my sister is in mariupol. jackie: let me ask you about a horrific situation on the ground, we have been telling these stories. president biden is going to announce he will remove russia's favored nation status, that is one thing you could do

today, we need a new -- no-fly zone and we need fighter jets. >> our president is right. they -- the target is not our military, targeting hospitals and schools and so on, very important to have support from western countries and no fly zone. we ask we should, i am sure soldiers protect our land, we should protect our soldiers and communities and support from western countries.

jackie: it appears this administration in conjunction with nato is afraid of actions that will provoke vladimir putin and the situation continues. on the ground for you, we send all of our prayers and appreciate you talking about what it is like and the frustration people are feeling and hope there is some resolution. turkey is seeing a role in all of this. >> reporter: trying to facilitate a deal between ukraine and russia but turkey is asking biden for some favors including removing sanctions but the russia air defense system this in 2017, the us might approve the jet deal, or the one --erdogan is close to -- they can convince a

cease-fire from the russian side. jackie: north korea testing and intercontinental ballistic missile system and a lot of people saying every enemy of the united states is watching this play out after they watched afghanistan. >> what about ukraine, that they will be invaded right now. what, their nuclear weapons as well. a serious escalation with missile launches according to us officials, north korea launched february 26th, during the 12 day invasion. the element of a new system was we saw these missiles on display. north korea, we are threats as well and trying to get attention, exact better terms and possible deals.

jackie: us intelligence reporting president xi is unsettled by the brutality of the russian invasion. will this deter china from invading. nevada, the biden administration made clear stop guzzling gas, go by electric cars. does the president own an electric car? he loves to show off that corvette. role it. >> sounds good. jackie: pretty sure that corvette runs on fossil fuels. oh consciousa will react to the white house plug it to plug-in.

..

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still trading below $45 apiece. uber has a leading position, at a discount for the ipo price. it is better than expected sales. maybe that is a sign on consumer appetite. foot traffic saw a 21% increase, not bad and buying the back to billion dollars worth of stock, not enough to lift it today. publication publisher pearson, that stock is sorry after apollo said it was an pulmonary stages of possible cash offer. there is no certainty this offer would come through but the stock price before today's spike worth $6 billion and with buyout offers you usually pay more premiums. jackie: thank you. we are awaiting remarks from

president biden on a russia, we have a two minute warning. edward lawrence at the white house. >> reporter: russia will no longer be a most favored trade status in coordination with the g-7 and european union, they announced that will be the case. this would take an act of congress for doing this, basically it removes tariffs or the shield that could be placed on all russian products coming into the united states. the president making the case of further pressure on russia's economy. vladimir putin does not seem phased by these sanctions and a carve out oil and natural gas

around the globe but the us is banning natural gas in the united kingdom and phasing out that natural gas from russia as well as oil from russia. all of this has spiked gas prices. here comes the president right now. jackie: taking the podium now. >> president biden: i spoke to president zelenskyy of ukraine which i have told him every time we have spoken the united states stands with the people of ukraine as they bravely fight to defend the country and they are doing that. as vladimir putin continues his merciless assault, our partners continue to work in lockstep to ramp up the economic pressures on putin and isolate russia on the global stage. together with other nato allies, canada, france, germany, italy, japan, united kingdom and the european union, we will announce several steps to squeeze vladimir putin and hold him more accountable for his aggression against ukraine.

i went to speak to a few of those points. we will take steps to deny most favored nation status to russia. most favored nation status designation means two countries have agreed to trade with each other under the best possible terms, low tariffs, few barriers, trade and the highest possible imports allowed. in the united states we call this permanent normal trade relations but it is the same thing. revoking pnt are for russia will make it harder for russia to do business with the united states and doing it in unison with other nations to make up half the global economy will be another crushing blow to the russian economy that is suffering from sanctions. i want to thank speaker pelosi, leader schumer and mcconnell and spinners widen and crapoh

and neil and brady. i would like to offer a special thanks to speaker pelosi who has been a strong advocate for revoking pntare and agreed to hold off until i could line up all of our key allies to keep us incomplete unison community among our allies is critically important as you know from my perspective. standing for democracy in ukraine, pushing russia's aggression should not be one of those issues was the free world is coming together to confront larry been. my two parties at home are leading the way. with bipartisan cooperation i'm looking forward to signing into law a bill revoking pntr which most people think of as most favored nation status was we are taking the further step of banning imports from several sectors of the russian economy including seafoods, vodka and

diamonds and we squeeze a putin, the g7 will deny russia from borrowing from institutions such as the international monetary fund and the world bank. e putin is an aggressor. he is the aggressor and vladimir putin must pay the price. he cannot pursue a war that threatens the foundations of international peace and stability. and then ask financial help from the international community. the g7 is stepping up pressure on corrupt russian billionaires, adding new names to the list of oligarchs and their families we are targeting an increase in coordination among g7 countries to target and capture there will be gotten gains. they support vladimir putin, and hide the money in our countries, part of what exists in moscow. they must share the pain of

these think this and while we are going after super yachts and vacation homes, hundreds of millions of dollars, we will make it harder for them to buy high end products manufactured in our country, preventing export of luxury goods and the latest steps we are taking, not the last step we were going to take. the beginning of these steps, with closest allies and partners acting in unison. the totality of sanctions is crushing the russian economy. the ruble has lost half its value. they tell me it takes 200 rubles to equal one dollar these days. moscow's stock exchange been closed for two weeks because they know the moment it opens it will probably call's. credit rating agencies downgraded russia's government to junk status.

a list of businesses from international corporations, in russia, growing by the day. we are also continuing to close corporations with allies and partners to make sure the cooperation we have, the ukrainian people are able to defend their own nation. the united states has sent $1 billion in security assistance ukraine over the last year including anti-armor and anti-air capabilities taking up tanks and planes and helicopters but new shipments arriving every day, we the united states are facilitating significant shipments of security assistance from our allies and partners to ukraine and working closely with the un and humanitarian organizations to support the people of ukraine who have been displaced by the violence in ukraine, providing tens of thousands of tons of humanitarian supplies, food, water, medicines coming

by truck and train every day. yesterday in poland vice president harris announced $53 million in additional humanitarian support to ukraine. that brings the humanitarian assistance to $107 million in two weeks. we joined this effort with 30 other countries to provide hundreds of millions more and last night, congress passed a bipartisan spending bill that included additional $13.6 billion in new assistance to the ukrainian people. i look forward to signing that immediately. we will make sure ukraine has weapons to defend against an invading russian force. we will send money and food and aid to save the ukrainian people and i welcome ukrainian refugees with open arms.

they need access. and provide more support for ukraine. we will stand together with our allies and send an unmistakable message that we will defend every inch of nato territory with the fool might of united and galvanized nato. we will not fight a war against russia and ukraine, direct confrontation between nato and russia is world war iii, something we must strive to avoid. we already know vladimir putin's war against ukraine will never be a victory. he hoped to dominate ukraine without a fight, he failed. helped to weaken the transatlantic alliance, he failed, helps to exclude a part of american democracy in terms of our positions was he failed with the american people united, the world is united as we stand with the people of ukraine. we will not let autocrats and

would be emperors dictate the direction of the world, democracies are rising to meet this moment, allying the world to the side of peace and security. we are showing our strength and we will not falter. god bless all of you, god bless ukraine and god bless our troops. >> or white house has said that russia may use chemical weapons or create a false flag operation to use them. what evidence have you seen showing that, and will the us have a military response if vladimir window lunch chemical weapons? >> president biden: i will not speak about the intelligence that russia will pay a severe price. >> you did make -- jackie: president biden speaking about the situation overseas in ukraine.

joe contra is here to react. he said he is aligned with nato and the g-7, taking away the favored nation status that would have an economic impact, and he is banning imports of seafood, vodka and diamond, that is new, the imf and the world bank, that they no longer support russia. he talked about corrupt russian billionaires that had names of these oligarchs to the list and go after their assets and he said he was banning the export of luxury goods to russia. what do you make of this? >> the president is playing a long game hoping we see a repeat of what happened in the late 80s when the russian economy collapsed and that forced the soviet union to no longer be the soviet union. the president only took one question from the press and ran off, i said that if chemical weapons are used by the

russians they will pay a severe price but how do you define that? does that mean the us military is involved? we do a no-fly zone as president zelenskyy has been begging for? when you only take one question and give a general answer that leads to more questions in terms of what this president needs to be accountable for. new sanctions be announced here, are these sanctions and the ones coming down the pike, are they deterring vladimir putin? his military continues to advance toward kyiv, civilians are targeted. the sanctions are having an impact. will they have an impact to stop later to now? things are only getting worse.

rich: jackie: the stock exchange is closed, the ruble is collapsing but what they haven't done, we said we would not take russian energy but other nations have to stand along but you have to go after his revenue source and europe is dependent on him it is hard to believe they would be able to do that. >> they are all great points. as long as russia has a partner with china, india abstained as well, and those economies to still work with, and out to the west of ukraine as well as we are seeing advancing as well. they are getting $107 million in humanitarian assistance that is a drop in the bucket for the

millions running out of water and food and medical supplies, what we are seeing from fox reporters in ukraine. when you consider the money spent in terms of trillions, i wouldn't be bragging about that when going into ukraine for a humanitarian perspective. jackie: the refugees, he fled ukraine with 225,000 fleeing to hungary. they need to prepare for the possibility for how they stay there. >> reporter: they do. it is early in this. we are two weeks in, to tell where they will end up.

in the budapest train station. step ahead of me, look inside the waiting room where many people came in from ukraine and others are volunteering to help them. what we are hearing more and more now that we have moved inland is stories from people going to places we haven't heard of in the past, people come from poland, they will end up, in istanbul and another younger girl, came through poland and eventually will go to bulgaria. i asked how long she would stay there and here's what she said. ricci she would like to connect ukraine? >> of course. >> reporter: how is your family in ukraine.

>> safe and the most important. >> reporter: that is the most important thing. the cell phone companies, and the tables behind that, you go to france or germany or italy, or other places, for a range of transformation if you come in as a refugee. that europe has to prepare for this influx. and how many other countries are impacted, not only hungary but further through europe.

jackie: excellent reporting. and we really appreciate it. former vice president mike pence met with ukrainian refugees and we have details. >> reporter: the flight of these refugees from ukraine, were called heartbreaking. they expect a soundbite, we have a tweet from the former vice president, the impact of the russian invasion is heartbreaking and the need for support is great which makes sense that he is contributing to relief organizations so let's stand to give her. 2.5 million refugees, nearly 400,000 so through the border crisis, when mike pence was

there with his wife. this pence visit, with his interest in running in 2024 because his visit looks stately. jackie: so much speculation, and in the midterms. they cut their ties with russia and the kremlin says it is experiencing a shock from an absurdly unprecedented economic war. are the think this working? i will speak to the governor of the bank of ukraine in our next hour. the first ukrainian to win a gold medal is working around the clock to get ukrainian athletes out of the war-torn

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the winter limit is leading the charge to rescue threatened ukrainian athletes. great to be with you. you are trying to get athletes out of ukraine. how many have you gotten out so far and why you feel compassionate about this? >> this has been very difficult on ukrainian athletes was when i was speaking to them in the beginning of the war they were thinking of what should they do now? they are asking me for help. we are trying to create a platform in the united states for them. my husband acquired a champions on ice, the name of the tour. we are not asking people to donate or give us money, but how we can create a platform in the united states to help the outlets to work.

jackie: they feel this is a huge humanitarian effort, making this the priority, helped organize the las vegas peace rally, whatever initiative we can expect from you. >> we are speaking about what i was doing yesterday. i was with a group of american skaters making direct deposits to one of the people on the ground. it was being bombed, that is where i come from. would you like to hear the sirens? the siren -- i was like oh my god, and they were like oh my god, what is going on here.

people on the ground -- there is a civilian, fighting for the country. they are asking me to find the money to help them get an suv and they need power bars. when they were fighting and slipping on ice cold ground, they can't make food, pasta, those things but they can have a power bar, and that is what they are asking me to help them with a. jackie: it is tough to hear, it is a humanitarian crisis, tough to see vladimir putin going after women and children. our thoughts and prayers are with your family and hope to see a resolution for this. thank you for all the work you are doing and support of your people.

we will talk to the deputy governor of the national bank of ukraine and pennsylvania congressman steve user, a big hour of "varney and company" next. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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>> a communist russia even china are no threat to a free america. stocks and bonds are weak, and i'll borrow a little bit of alliteration that i don't think cash is trash right now. if. >> the employment numbers are getting worse, and that's going to bring up the next conversation about where is the fed now. >> what's critical to realize is a lot of is selloff that you see in this correction, most of it was put in place before, you know, russia-ukraine was dominating the news cycle. the areas we think are riskiest are expensive high growth stocks as well as bonds. >> reagan, trump, even bill clinton to an extent was pro-business. this administration, for some reason, does not like small business. small business is the heartbeat of america.

jackie: it is 11 a.m. on friday, march 11th. i'm jackie deangelis in for stuart varney. we are seeing the dow rebound, up now 241 points. you still have the nasdaq a little bit lower, and the s&p has modest gains of about a quarter percent. i want to look at oil prices, 109.07. they are up almost 3, trading around the flatline for the session earlier, now we are seeing an increase. look at the 10-year yield treasury note as well, you're seeing the yield is over 2%, up 1.5 basis points, and now this. moments ago president biden announced that we are stripping russia of their most favored nation status. roll it. >> jointly announce several new steps to squeeze putin. each of our nations are going to take steps to deny most favored nation status to russia. we're also banning imports of

goods from several signature sectors of the russian economy including seafood, vodka and diamonds. the totality of our sanctions is crushing the russian economy. jackie: steve hilton joins me now. steve, i want to know -- good morning to you. i want to know what you think of the president's remarks because he's really going hard on the economic front and, of course, he banned the impart of -- import of russian oil to this country even though the big companies and speculators had stopped taking it in. what he's not doing is getting other countries to cripple russia's economy by killing their revenue stream. >> yes, exactly. because the main revenue stream is gas and the natural gas that goes to europe. and even though they have said that they intend over time to move away from that, there's no immediate plans to do that. if the german government, for example, specifically said that they are not going to do one of the things that could more quickly move them away from russian gas, and that is turn back on their nuclear power

stations. and if you look at the totality of all this, it is true to say that these are very aggressive sanctions, and that is clearly a good thing in terms of putting pressure on putin. but is it working? it doesn't seem to be working. he doesn't seem to be deterred. and the problem is that you've got this strong and aggressive approach on economic measures, but weak approach on the military measures. you've got the ukrainians saying we're not getting the end weapons that we need quickly enough. we're not getting the help we need to fight the russians. that's where the west needs to be much, much stronger. so i'm all for the economic pressure, but it's not going to do it unless you have the equivalent military pressure as well. jackie: well, when it comes to the west, when it comes to us and our nato allies right now, steve, the key word, right, appears to be provocation. they're afraid to call for a no-fly zone, they're afraid to send the military jets that could help because they are afraid of putin. if. >> well, look, i'm not a military expert, is so i'm not

going to weigh in on specifically what needs to be done and what the options may be, but i can talk about the overall strategy and the approach. and what a you're seeing here is exactly the wrong message being sent to dictators and autocrats and bullies around the world, because the message that's being sent is basically if you've got nuclear weapons, we're going to back off because we're so frightened of what you might do with them. what kind of message does that send to xi jinping in china, the iranian regime, any country that either has nuclear weapons or wants to get nuclear weapons? it is actually a really dangerous precedent, this kid gloves approach, that we're setting with respect to putin. i think it's really dangerous, and it's making conflict more likely, not less likely, in other parts of the world. jackie: i'll add north korea to that list too. the next question i wanted to ask you about president xi unsettled about what's happening here with respect to the russians going in brutally to ukraine like this. do you think in some way even

though president xi isn't scared of the united states per se or president biden, but do you think that he'll be watching this, and it could possibly deter any action with his country and taiwan? >> no, i think it's the exact opposite. i think it's more likely to encourage xi because he can see that in the end the west has no appetite, as of now, to seriously confront or reverse what putin is doing. he's got a deadline that he's really looking at very closely. that's this november when he has a huge party meeting. he's already spoken, xi jinping has folken -- spoken about how this historic goal of, in his view, bringing taiwan back into where it should rightfully with -- be, that's a historic goal. he wants to announce that in november. some people have said he wants to get it out of the way and then move on taiwan. i think it's more likely to be the opposite, i think he wants to do it before november, and i don't think anybody anything we've really done has

discouraged him. jackie: yeah. you mentioned natural gas, i also want to talk about the national gas average in this country. according to ark aa, $4.33 3 for a gallon of regular, but in california it is $5.72. that is the highest in the country. >> well, that's the average -- when you read out those numbers and i see people talk about the national average and here i am in california, we pray for those kind of numbers. i mean, you've seen it up to 7 in certain parts of the state. jackie: yeah. >> do the other day i filled up for 5.69. it is completely outrageous that democrats are in a complete panic over it because they know this is politically harmful. so what they've announced, gavin newsom this week in his state of the state address is a plan to give rebates, tax rebaits for this. jackie: yeah. >> but they're not canceling the gas tax which is 50 cents per gallon. they're not canceling that, they're just offering a tax

rebate. jackie: right. >> that's not any if kind of long-term solution. jackie: yeah. that's like the check's in the mail. steve hilton, always great to get your insight. we'll talk to you again soon. and, of course, we will be watching you on "the next revolution," sunday night, 9 p.m. eastern time only on fox. all right, let's get back to your money and check the markets now. the dow is up 200 points roughly, the nasdaq is down 76 points, paring some of its losses at the moment. and, of course, we're watching the s&p up modestly. mark tepper joins me now. mark, big question right now, such a volatile market. every day we see these wild swings, and investors want to know what to do. we're still dealing with inflation, low interest rates, we're not getting any money in the bank, and so stocks seem attractive, i just think you have to pick and choose. >> i agree with you. it seems like the longer this energy crisis is at play, the more likely it is we end up in a recession somewhere towards the end of year. you mentioned a lot of data

points. one of the main things i've within watching is consumer sentiment because it leads consumer spending which is 70% of our economy, and it just with plunged again. jackie: yeah. >> it's, i think, 59, and it was 71 or 72 in april of 2020. that was -- jackie: 59.7. >> yeah. so we're actually, consumer sentiment is much worse today than it was when covid was wreaking havoc, running through society. jackie: right. >> so i think you mentioned picking your spot. i agree. i think you need to pick your spots right now. patience is a virtue. we're sitting about 17% in cash right now waiting. now, i i think if you're trying to chase value stocks at this time, i think you're a little late to the game. i would rather wait for the growth versus value start to turn up, turn in the opposite direction and start to pick off those growth stocks which are probably going to start to lead the market, i think, over the course of the next few months. because as the economy slows, investors are willing to pay a premium for growth.

jackie: that's interesting. but you're also managing this day-to-day volatility, and i know people and investors are never if time the market exactly right. you've got this crisis overseas, dealing with all of these issues on our plate here at home, you know? they may be saying we could take another leg down here. should i wait? >> you know what? i think it's probably likely that the bottom is not in. i don't think we've bottomed out yet. and a lot of the indicators that we like to pay attention to, they're just not indicating that we've hit that bottom yet. so as an example, typically the average a stock in the s&p is down 20-25% during these kinds of drawdowns. it's down, like, 17% right now. so it's just not there yet. the market's not washed out. typically you'll see less than 20% of the stocks in the s&p above their 50-day moving average. right now we're at, like, 30. so we're just not there yet. i think there's more pain to the downside. jackie: the fed is anticipated to start hiking rates next week and will continue to hike s. that going to be the trigger

even though investors have baked that into the market to a certain extent? they never like it when it actually happens. >> i think it's a big problem. when i was looking at the fed fund futures yesterday, we were expecting maybe 6.5 hikes this year. that's a lot. jackie: yeah. >> almost one every meeting. i don't think it'll be 7, it might be something like 5, but i'm also concern canned i don't think we can really handle 3-4. so i think the fourth or fifth one is going to be the straw that breaks the camel's back. if you go back to 2018, the fourth quarter of 2018, the market dropped about 19.9%. it didn't quite hit bear market territory before the computers started to kick n. jackie: right. >> so is, look, if you're out there, if you're patient, if you're sitting on some dry powder, it's impossible to call the bottom, exactly where it's at. but if you get an opportunity to buy in 19% the peak -- jackie: might not be such a bad idea. >> it's prudent, you know?

jackie: okay. mark if, thank you for. that let's check some of the movers. i want to start with wells fargo seeing a 20% update for deere as automation increases on farms. chevron is down slightly, jpmorgan downgraded this stock. they say that chevron has the least upside compared to it competitors. show me general electric. the company just held their first in-person investor meeting in more than two years. they reiterated their 2022 earnings forecast saying that supply chain issues would cause profits to suffer in the first half of the year, and you can see that stock is actually trading higher, up by 2%. now this, an american astronaut could soon be stranded in space? russia is threatening to leave him behind when they bring their cosmonauts home from the space station next monthful we've got that story. plus, the kremlin says that russia's economy is in shock from these unprecedented sanctions with stores shutting down and the ruble plunging.

how much longer can russia hold on? take a look at this, an airstrike unleashing terror in central ukraine. at least one person is dead, and a kindergarten school destroyed. trey yingst has that report live from ukraine next. [background sounds] ♪ ♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

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jackie: welcome back. russian airstrikes pounded central and western ukraine this morning. trey yingst is in kyiv. russian troops are surrounding the city now, trey. >> reporter: jackie, good morning. russian forces are now within 10 miles of kyiv according to the new satellite images.

that convoy that was sitting just northwest of the city with tanks and artillery units recently redeployed, this means the troops have taken up new positions in nearby towns and tree lines. the artillery units are moving into firing position with the capital in their sights. russian forces are destroying homes and lives in their past. we just returned from the front lines and have this report. 63-year-old vitaly is one of the many vulnerable residents stuck in the besieged ukrainian town of irpin. while he hears russian shells exploding nearby, he can't see the destruction they cause. >> translator: i'm blind. i cannot see anything. i'm absolutely blind. >> reporter: with no shops or markets open, it's hard enough to get supplies. for vitaly, it's nearly impossible. >> translator: i hear some explosions. i'm scared, but what can i do? >> reporter: right now we're deep inside the ukrainian town of irpin partially controlled by russian forces, and they're shelling different ukrainian

positions in the distance trying to increase their gains. irpin looks like a gloas town -- ghost town. further we've of indiscriminate shelling and airstrikes. on the front lines, russian forces are granting nakeds. this is -- neighborhoods. this is part of a scorched earth campaign used by the russians to kill civilians and push people out of the way so they can move their troops forward and ultimately advance on on the capital of kyiv. officials this afternoon are accusing russia of striking neighboring belarus. those officials say russia will blame that on ukraine and try to drag belarus into the war. jackie? jackie: trey yingst, thank you so much for that. japanese clothing company uniglow is changing course after defending its choice to stay in russia. the company says they will now us -- suspend all business in

russia. come back in here, tepper. do you think we're going to see more companies pull out? the second part of that question is how long do they the pause, and when do they plan to go back in because we are talking about a lot of money here. >> well, notice they're suspending operations in russia. that leads me to believe they will be starting back up at some point down the road. but, you know, what's really interesting to me about this is it's so easy for these companies to suspend operations in russia because russia's kind of a bit player in the global economy. it's less than 3% of gdp. jackie: right. >> why aren't they codoing it in china in because china's 20% of global gdp. you've got the genocide of the uighurs, you've got china potentially getting aggressive with taiwan, taking hong kong before they were supposed to. so i think a lot of what you're seeing happen right now is mostly a pr stunt. jackie: yeah. and we had the founder of a pa john's on earlier -- papa john's

on early, saying how essentially they're getting peer pressured, right, into not doing business there. so many companies are not making the first move, but they have to jump on the bandwagon. if you're a company that doesn't make that decision, do consumers just say i don't want to associate with you, i'm not going to support you? >> i think that's a very, very highly likely possibility. i mean, i think mcdonald's, if i'm not mistaken, i think mcdonald's kind of paused -- jackie: they paused -- >> and gave in, right? yes, then they gave n. i think you're right. if the consumers start to revolt, if the consumers start to boycott, yeah, it's a big problem, and they're going to be forced to do it anyway. jackie: yeah. >> again, it's probably a de minimis percentage of these huge corporations' sales to begin with anyway. jackie: yeah. it's a blip if it's a suspension. now this, the kremlin is now saying russia's economy is experiencing a shock from what

it described as an absolutely unprecedented economic war. certificate -- sergei is with us, pardon me, it's good to see you. i just want to ask you, the national bank of ukraine, as the deputy governor there, are you looking at this and saying the economic sanctions that president biden and nato are moving forward with and the corporate protests, are they working? is it enough? because it's not deterred russia. >> okay. thank you very much for inviting me and providing this possibility to talk. actually, yes, we think they definitely work, the sanctions, and all of ukraine now have its own, his own front, and we have our own financial front that

we're trying to put as much pressure on the aggressive country as we may. and thanks to our partners, thanks to our international partners. we see that the football if situation in russia -- financial situation in russia nowadays is really very, very bad. jackie: the situation on the ground in your country is also extremely bad, and it continues to deteriorate day by day. so it almost seems like it's become a game of chicken, if you will, of who can hold out the longest. you're saying their economic situation is bad and they're feeling the pain there, but it still seems, it feels like even though the ukrainians are putting up a good fight that russia has the upper hand here. >> yeah, you are completely right. the situation with the economy is not easy. but at the same time, we see that when our fight, you know,

after the war started we did a lot in order to safeguard the financial stability and insure financial payments in ukraine. if many particular we have -- in particular we have insured the fixed market. sure, we needed to impose a lot of restrictions including limits on withdrawals from deposits in local currency -- only for critical -- [inaudible] we banned other international -- [inaudible] we think exchange rate we provided very sizable liquidity support to the banking system, but so far it seems that our banking system may withstand in this pressure, and the economy still operates --

[inaudible] jackie: let me ask you this, ukraine receiving a total of almost $100 million in crypto donations. that is according to ukraine's deputy minister for digital transformation. does your bank work with crypto? how do you use these funds? how do you distribute them? >> in our country we still don't allow any operations with cryptocurrencies, so they're illegal. so i may just imagine what our deputy minister -- that some companies outside ukraine are able to collect this funds in their cryptocurrencies in order to insure, insure transfer of these funds to the ukrainian financial system, payment for some good because they needed to

exchange the money -- jackie: i understand. yes. thank you so much for your time today. we're praying for you, we wish you all the best. thank you. >> thank you very much. thank you very much for your support: jackie: well, the red cross is on the ground helping people affected by the war in ukraine. the red are cross says they've taught 12,000 people how to provide first aid in just the last two weeks. fox corporation has donated $1 million to the american red cross for the ukraine releaf efforts, and you can donate too by visiting redcross.org/foxforward. now this, north korea just tested a new intercontinental missile system. the white house warns that they could soon launch at full range. we've got that report. and the pentagon rejected poland's proposal to transfer mig 29 planes to ukraine. why wasn't this move worth the risk? congressman dan meuser is on the house foreign affairs committee, and he takes that on next.

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dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones >> we're going to jointly announce several new steps to squeeze putin. each of our nations is going to

take steps to deny most favored nation if status to russia. we're also taking the further step of banning imports of goods from several signature sectors of the russian economy including seafoods, vodka and diamonds. the totality of our sanctions and export controls is crushing the russian economy. the ruble has lost more than half its value. moscow's stock exchange has been closed for fully, for two weeks because they know the moment it opens, it'll probably collapse. we'll defend every single inch of nato territory. we will not fight a war against russia in ukraine. the american people are united, the world is uted -- united, and we stand with the people of ukraine. jackie: that was president biden just moments ago at the white house talking about the situation overseas. let's take a look at where we are with the markets right now. now you can see the s&p 500 has turned negative, although slightly, by almost 4 points. the dow still holding on to some gains at 168 points. and remember, some of the positivity that was coming out

was as a result of the headline that putin indicated that there was a positive shift in talks with ukraine. that can't necessarily be confirmed, but it seems that the market sentiment is shifting a little bit here with the nasdaq now down 121 points. let's also take a look at some of our movers. i want to see docusign, it's actually the biggest loser of the day, reporting guidance that was weak weaker than anticipated. it's down 22%. subscription growth is slowing as more people are returning to work. let's check on boeing, it is leading the dow today. reuters is reporting that it is continuing plans with suppliers to ramp up capacity on its 787 dreamliner. and then show me meta. russia, of course, threatening to ban facebook and instagram after they changed their hate speech rules. users are allowed to call for violence against russian leaders and the military if it isn't in the context of the ukraine war. this is a stock that opened

lower and continues on its way down, about 3.5%. the biden administration is warning that cryptocurrencies pose some significant risks to 401(k) investors. this, of course, includes fraud, theft, financial loss. mark, when i think of 401(k), i think of safety, and i don't think of crypto. >> exactly. i'm surprised i'm going to say this, but i 100% agree with the biden administration on this one. jackie: right. >> there's a reason 401(k)s exist. they exist so that people can save for their retirement, and hay end up less reliant on social security and the government to help them to retire. there's a reason you put your money in pretax and there's tax benefits. for me, a 401 is k is a set it and forget it thing, right? that's where you dollar cost average. and my take is if you have to buy crypto inside your 401(k), you probably shouldn't be buying it -- jackie: shouldn't be buying it at all. >> you should be using discretionary dollars outside of your 401(k).

jackie: absolutely. let's hold it there because 42 republican senators are asking the white house to send these mig 29 fighter jets to ukraine, but, of course, the pentagon is warning it could escalate tensions we're seeing with russia. congressman dan meuser, republican from pennsylvania, joins me now. congressman, good to see you this afternoon. obviously, ukraine is saying it wants two things right now, two things that it needs more than anything else. it needs a no-fly zone, and if it can't get that, it needs the fighter jets to be able to protect itself, yet it's received neither. your thoughts. >> yeah. well, we were on a call with zelenskyy saturday morning, and he was very articulate in stating his names and some of them came through regarding the credit cards, finally the biden administration issued the embargo on the oil. the oil companies did that on their own first. we've been calling for this for quite a while. he wants the aircraft9 and the no-fly. no-fly, i agree, cannot be done

because we will then come in direct contact with the russians, and that's something we're not prepared to do. but i completely 100% agree with those 42 senators, the aircraft needs to get -- they're migs, mig 29s. and there's quite a few. i understand there's nearly perhaps 70. it was green lighted by the state department, fumbled by the biden administration if as it handed the ball off to the dod, and it's a big mistake. these planes should be going over to, it'll if a measure that will be very important for ukraine's freedom which is what we must work for with everything we've got short of direct contact -- jackie: just to play devil's advocate, the argument against it, of course, is these fighter planes have to go through germany, and as a result of that you create a situation where putin can interpret this as nato escalation. >> well, you know what? we're sending the stingers, we're sending the javelins, we're sending everything we can,

as we should, to help this sovereign, peaceful nation remain free and not under tyrannical control by, quite frankly, someone who's awful, a historic aggressor with no real reason for such an invasion. so, again, everything within outside of contact we should provide them every weapon necessary. and i don't see -- how is there a difference between a mig, sure, it's coming via germany from one of our u.s. bases. i think the administration is dead wrong. look, the russians are -- putin's army, i prefer to call it, is surrounding kyiv right now. they've dispersed, we need to give zelenskyy and the ukraine everything we possibly can short of contact with america. jackie: congressman, i'm running out of time, but i want to get your take because pennsylvania's the second largest natural gas producer in the entire country.

it's a huge issue here. would you support more drilling in pennsylvania to combat the rising prices that we're seeing? and i also have found that there was 13 approvals for lng export facilities, but the companies aren't constructing them because they're afraid of this administration and their a policies. >> rightfully so. this administration has had an assault on our domestic energy resources including in pennsylvania. from the banks, from the fed steering the banks into not working with natural gas and oil companies, to the prohibitions, to the fact that not one pipeline -- you know, they hate pipelines, jackie -- jackie: i know, yeah. >> so of course that would give us leverage, it would increase our national security and would bring gasoline prices way down just by the biden administration mentioning -- jackie: congressman, i always say that the resources we have here are worthless if you can't move them around. you need the infrastructure to move them. we are out of time, congressman

muser, but it's great to see you. thank you. now this, a former top gun commander says a no-fly zone won't work in ukraine. roll tape. >> well, i think that they need air power. now, you are months late in establishing a no-fly zone. jackie: so how does ukraine win without chosing the skies? i'm going to ask a former f-22 fighter pilot coming up. and texas oil producers are begging the president to let them drill more instead of turning to opec countries like venezuela. we sent lauren simonetti to the heart of texas oil country to get a report on that. she joins us next. ♪ ♪

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♪ >> you guys are pushing electric vehicle ises today. this is a president who always talks about the power of our examples. does he own an electric vehicle? >> presidents of the united states don't do a lot of

driving. >> he's posted videos of revving the engine of his corvette. >> and he also has driven electric vehicles as president. >> does he own one? >> i think the president's record is clear, presidents of the united states current and when they are no longer typically are not doing a lot of driving. jackie: presidents don't drive, that was her response. okay, well -- [laughter] the white house is pushing for more americans to buy electric cars, but they won't say if the president himself has one, and it's kind of ironic when we look at it that way. all right. show me rivian because shares are sinking after reporting disappointing earnings. they expect to produce just 25,000 cars this year. come back in, mark they were, on the ev space because this is after tesla said it's going to raise the price of its model y by $1,000. that is bad news, the higher gas prices go, the more attractive to evs become, so the administration can say, see,

see, see, you need to drive an electric vehicle of. there's a dual thing happening here. >> yeah. but, like, a ford fusion's 30 grand and a tesla's 50 grand, there's a big cost difference up front in purchasing the car. or your monthly payment goes up, right? and let's not forget as much as these politicians are pushing this shift to evs and they're trying to push it a lot faster than they should because you really need a hybrid approach, you're going to need fossil fuels to charge these things. jackie: oh, yeah. >> right? jackie: i know that. >> and when you look at all the evs that are out there right now, one of the other issues is just not enough charging stations -- jackie: and the price of electricity which comes from natural gas skyrocket as a result of that. all right. we do have to go. thank you, mark tepper. u.s. oil companies trying to boost output to ease record prices. lauren simonetti is in texas at one of the largest and most productive oilfields in the world. hi, lauren, and how much oil are they able to produce a day there? >> reporter: yeah. okay, well, right now four wells

behind me, so -- 10,000 barrels a day, jackie. at the end of the year they're going to double that. they're trying to build scale before the financing potentially dries up because we've seen so many wall street players and activist investors who don't want to touch oil and gas. so they're trying to build scale right now. and the ceo says there's so much potential for made in america oil. >> we've got over 340 million barrels proven on our 20,000 acres, on our little piece of the oil patch here. and as you can see around you with, it goes on for thousands and thousands if not millions of acres that can be developed. >> reporter: there's potential for smaller players to get money together for financing, jackie, and a lot of the bigger players are staying away. there's so many issues right now that they're facing that they can't ramp up. jackie: if you had to sort of rank it, lauren, what is the

biggest impediment that they're facing in what is it that's held them back from drilling up to this point? because, obviously, the administration says one thing, experts say it's another thing. >> reporter: time. number one is time. because the administration turned their back 14 months ago on the oil and gas industry in the united states. so the permitting process takes where where i am, because i'm on private land in the state of texas, the permian basin, it takes companies about 10 days right now. if you are trying to get a permit on the new mexico federal side of the permian, it can take 9-12 months. jackie: months, exactly. >> reporter: then you add in the pipeline, that could take years, jackie, to go through environmental review. after that it's, it is mind-boggling. and is one new mexico company told me, you're not going to believe this, they filed their permits and they were told you have to refile them because the language that you used is not gendered correctly. for instance, they wrote dear

sir instead of to whom it may concern -- jackie: they make it as hard as possible. and as you point out, lots of investment, long lead times and, hence, we're in the debacle and the situation we find ourselves in. lauren simonetti, great to see you. thank you. okay. nato is holding military drills in latvia just about 100 miles away from the if russian border. they are showing off anti-tank weapons, tanks and live shooting. jeff paul joins us from latvia 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. ♪ ♪ your record label is taking off. but so is your sound engineer. you need to hire.

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by a kohler-certifid installe. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... to receive one-thousand dollars off your kohler walk-in bath. and right now we're offering no payments for 18 months. jackie: nato is holding firepower or demonstrations in latvia with at least seven waves of live shooting. jeff paul is in latvia for us. what are the drills like, jeff? [gunfire] >> reporter: yeah, jackie, with the ongoing invasion of ukraine happening right now, the level of concern here in countries like latvia is only rising. they not only share a border with russia, but they had to fight to restore their independence 30 years ago from the then-soviet union. the one thing that has changed since then is countries like latvia are now members of nato. we got a chance to see up close that cooperative showing of

force today at a nearby military base. now, one of the things that was really stuck out was just the cooperation amongst so many different countries, 13 of them. and we were one of the few crews among international media allowed to see this. one by one different countries rolled out trucks, tanks, helicopters and even two jets at one point to display just aha small fraction of their defense capabilities. and while this exercise was already scheduled well before russia's attack on ukraine, u.s. forces what makes what's happening right now even more important. >> when you go to these exercises, you always have to make sure that you're staying focused on just what's going on in the world. but, you know, right now there's things that people haven't necessarily thought would be occurring in this portion of the world. and so i think everybody's got that on their mind. >> reporter: now, the u.s. army major again that we spoke to today out there at that

military base tells me that today's exercise just shows how strong that unity is amongst nato forces. he says while they, you know, fly different flags, have different machinery, sometimes speak different languages, they are all united with their mission to defendal highs. jackie? jackie: jeff paul, thank you for that. great reporting, thank you. now this, former top gun commanding officer captain tom trotter says that it's too late for a no-fly zone in ukraine. roll tape. >> well, i think that they need air power. now, you are months late in establishing a no-fly zone. so it's an integrated air defense that's got to be put this place. that's not there. you would have had to have started this a year ago. you might have even had to have started this whole concept back in 2014 when they invaded crimea to say, hey, we've got to protect our air space. right now -- jackie: daniel robertson is a former f-22 fighter pilot, he

joins me now. daniel, he makes a good point. do you think at this point that, you know, a no-fly zone would help the situation that we're in? it doesn't look like it's going to happen anyway, and even if you wanted to do it, you should have done it a year ago. >> hey, jackie. well, it's good to be with you. i agree with those sentiments. i think the time to impose a no-fly zone was certainly a year ago, prior to the conflict. right now it's incredibly difficult. look, i think militarily, tactically, operationally we could employ a no-fly zone, but it's immensely complex to do with a number of considerations that inevitably would lead to an escalation in conflict. it's not as simple as just putting airplanes into the air space, it's dealing with missile systems in both belarus and russia. and for our pilots to impose a no-fly zone safely, it would involve potentially strikes both into russia and belarus which would, obviously, escalate the situation really quickly. that's even if we had the rules

of engagement to do it. even if we didn't do that, we would be putting pilots in harm's way, and if they were engaged and responded, it would immediately invoke article 5 of the nato manifesto which would mean an attack on one is an attack on all. and, again, it would lead to escalation. but militarily it is possible. strategically, i don't think it's the right move, and that's because i think putin is failing. i think he is losing the war, and he he has already failed to achieve his objective. right now he is showing a crippling lack of ability across the russian forces to prosecute attacks, and he needs a narrative that he can support at home because this is going badly wrong for him. and any kind of escalation by nato gives him exactly the narrative he needs, and i don't think it's the right move strategically. jackie: okay. listen, i always have an open mind. i think that was an excellent explanation to lay it out for us. and you're right, putin isn't being as aggressive as we know he could be because he is trying to play that delicate tight

rope. but, you know, i want to shift gears for a moment while i have you because we're not just watching putin, we're watching iran, we're watching north korea, we're watching china, all of our enemies across the world, and they're all watching us too. and speak of which, north korea recently conducted two tests of a new intercontinental ballistic missile system. a senior biden administration if official is saul -- calling this a serious incident. is this what you would expect after what we're seeing in ukraine right now? >> yes, i think it would be naive not to see this. rook look, the united states military is stretched. we have atrophied over a number of years to the point where we're facing multiple threats around the globe, and we need to have the investment. that's the first thing. in terms of north korea right now, i actually think conflict on the korean peninsula remains extremely low, or the potential -- jackie: daniel, i apologize, i

am out of time here. we will pick this up at another point. thank you. >> yeah, no problem. jackie: in the last 10 seconds i have, it is time for the friday trivia question. which state capital has the smallest population? cheyenne, wyoming; bismarck, north dakota, juneau, alaska, or montpelier, vice president. -- vermont. we're going to see if mark tepper knows after this. ..

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phil: we asked which state

capital have the smallest population. take a guess. >> i will go with number 2, bismarck, north dakota. jackie: i don't have a guess. i'm always wrong so don't bed with me. the answer is montpelier which is 8074 people living in that city at the time of the 2020 census. thank you all for watching, neil cavuto will take it away, it is yours, happy friday. neil: we are looking at a market that is coming down from its initial excitement earlier on the vladimir putin was open to positive developments in the talks, the fact that he was thinking optimistically, would never tell in his commands to his soldiers who continued their ruthless barreling through the latest juncture a good pt