tv Varney Company FOX Business March 16, 2022 9:00am-12:00pm EDT
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keep its own military. that would mean that this could be a breaking point in terms of the war, because if you, the issue was the demand that you crane renounced nato and getting rid of its own military so there seems to be daylight there. maria: all right, this is about to start, tammy and dagen, great to see you today let's get to "varney" & company stuart take it away as this congressional hearing is about to get underway stuart: good morning, maria, good morning, everyone literally moments from now ukraine' president zelenskyy addresses the united states congress. he will plead for no fly zone. you're going to see this live, they are getting together right now left-hand side of the screen now, president biden believes a no fly zone is escalating and would provoke the russians at 11 :45 eastern this morning, the president will outline what extra military help he is prepared to offer ukraine. the new york times reports that
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switchblade kamakazi drones maybe offered, they are cheap, easy to use, guided bombs, in advance of zelenskyy's presentation to congress, we're expecting at any moment now look at the market. stocks rallying again. any glimmer of hope from the russia-ukraine talks and there have been talks and there have been glimmers of hope, that maybe helping the market. jay powell is expected to raise interest rates a quarter point today. that's already baked into the market and look at it go. dow is up about 300 at the opening bell, after a whopping great gain yesterday. between yesterday's close and the futures this morning, you're looking at about a thousand- point gain for the dow industrials. the s&p 500 up 41 and look at the nasdaq, up a huge gain yesterday, up another 200 points this morning at the open. the 10 year treasury yield coming in above the 2.1% level, 2.18% this morning, how about that? and the price of oil continues
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to be below $100 a barrel you're at 98.83 as of now. look at gasoline, the average for regular is now 4.30 down just $0.01 from yesterday, cover ing all of the markets now, bitcoin is back to the $40,000 level just above it, gold back below $2,000 an ounce. "varney" & company is indeed about to begin. we're still a few moments away from president zelenskyy's address to the united states congress, as you can see , all members of congress are, i think they are all in side the chamber right there, waiting to see and hear from mr. zelenskyy. we'll go there as soon as it happens. okay. let's bring in the former u.s. ambassador to nato that be kurt volker, mr. ambassador, should we offer much more lethal weapons to zelenskyy even if putin takes it as provocation?
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>> yes, absolutely. putin started this war unprovoked. he did this because he wanted to do this , and is going badly for him. this is our moment to help ukraine bleed out the russian forces that are attacking, cause putin to want to end the war, and then hopefully these peace talks can actually then turn into something if putin feels that he's losing, so we should be giving them everything we can right now. stuart: do you think we should give them these kamakazi drones that are reportedly, i told that you can guide them, it's a guided bomb essentially. they can operate this thing from 50 miles from the target and you can just plant it right on a tank. should we offer them? >> yeah, exactly. absolutely, because if you remember those columns we saw just a few days ago heading towards kyiv from the north, from the east, drones like this could be very effective in taking out both the supply lines , the fuel, and the food that is there to support the troops as they reign down
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mortar fire and rocket fire on the cities and also to take out some of those tanks, be very effective, but we should be putting everything on the table at this stage. stuart: now president zelenskyy has said that he was supposed to be invited to join nato. he's not going to be invited to join and he's not going to join. is that a major item in the speech today? >> well, i think it'll be one item in the psychological battle between ukraine and russia. zelenskyy is saying that look, before this war started, we were not being invited into nato any way, so we're not giving up very much and that's going to be his line to the ukrainian people , and ukraine has held off russia by itself without being a member of nato, so he's going to argue this is not such a big step for ukraine; however, if this gives russia cover to say okay, we achieve something and now, we will withdraw our forces , then that could be worth it from ukraine's point of view, but let's be clear. we have not heard that from
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russia to this point. there's no indication that they are going to stop the attacks or to withdraw their forces. stuart: i keep seeing reports that if the ukrainians can hold out for another 10-14 days the russians are done. hold on a second mr. ambassador. it appears the zelenskyy presentation is about to begin. >> [applause] stuart: let's listen. >> [applause] >> good morning, mr. president. good morning, madam ambassador
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who is with us this morning, madam ambassador. >> [applause] >> ambassador makarova, mr. president, it is my honor to present to you the congress of the united states which has great respect and admiration and appreciation for your courageous leadership. members of congress, i have the high privilege and distinct honor of presenting to you the president of ukraine, president zelenskyy. >> [applause] >> my colleagues shlava ukrana.
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>> thank you very much. madam speaker, members of the congress, ladies and gentlemen, americans, friends, i'm proud to greet you from ukraine from our capitol city of kyiv, a city that is under missile and air strike from russian troops everyday, but it doesn't give up and we have not even thought about it for a second, just like many other cities and communities in our beautiful country which found themselves in the worst war since world war ii. i have the honor to greet you on behalf of the ukrainian people, brave and freedom-loving people,
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who for eight years have been resisting the russian aggression those who give their best sons and daughters to stop this full- scale russian invasion right now, the destiny of our country is being decided. the destiny of our people, whether the ukrainians will be free, whether they will be able to preserve their democracy, russia has attacked not just us, not just our lens, not just our cities, it went on a brutal offensive against our values. basic, human values. through tanks and plane against our freedom and against our right to live freely in our own country, choosing our own future against our desire for happiness
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, against our national dream, just like the same dreams you have, you, americans. just like anyone else in the united states, i remember your national memorial in rush more. the faces of your prominent presidents, those who laid the foundation of the united states of america as it is today , democracy, independence, freedom, and care for everyone, for every person, for everyone who works diligently, who lives honestly, who respects the law. we, in ukraine, want the same for our people. all that is normal, part of your own life. ladies and gentlemen, friends, americans, in your great history , you have pages that would allow you to understand
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ukrainians, understand us now when you need it right now, when we need you right now. remember pearl harbor. terrible mourning of december 7, 1941 when your sky was black from the planes attacking you. just remember it. remember september 11. a terrible day in 2001 when he will try to turn your cities, independent territories, in battlefields, when innocent people were attacked, attacked from air, yes. just like no one else expected it. you could not stop it. our country experienced the same everyday, right now, at this moment, every night for three weeks now, various
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ukrainian cities odesa and kharkiv and mariupol, russia has turned the ukrainian side into a source of death, for thousands of people. russian troops have already fired nearly 1,000 missiles at ukraine, countless bombs, they use drones to kill us with precision. this is a terror that europe has not seen, has not seen for 80 years and we are asking for an answer for the terror from the whole world. is this a lot to ask for , to create a no fly zone over ukraine to save people? is this too much to ask? humanitarian noly zon mehiut t attacksatta rsus ra rld w nld we zeriurzeur fe feit hiishihiucho a, a we
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ofltannaltveve kyonou kwhatin oden den sila slartendees 300 oth o no kucow mowndshehe ield oie t o a tli ali use use acr at a power,trontr air to t protero our o o oe,e, r m, aircrafirtttel ukraine, help europe, and you know that they exist and you have them, but they are on earth , not in the ukrainian sky. they don't defend our people. i have a dream. these words are known to each of you, today, i can say, i have a need. i need to protect our sky. i need your decision, your help, which means exactly the same,
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the same you feel when you hear the words "i have a dream." ladies and gentlemen, friends, ukraine is grateful to the united states for its overwhelming support, for everything that your government and your people have done for us, for weapons and ammunition, for training, for finances, for leadership in the free world which helps us to pressure them economically. i'm grateful to president biden for his personal involvement, for his sincere commitment to the defense of ukraine and democracy all over the world. i am grateful to you for the resolution which recognizes all those who commit crimes against ukraine, against the ukrainian people as war criminals; however, now, it is true in the darkest time for our country, for the whole europe, i call on you to do more, new packages of sanctions are needed
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constantly, every week until the russian military machine stops. restrictions are needed for everyone on whom there's unjust regime is based. we've proposed that the united states sanction all politicians in the russian federation who remain in their offices and do not cut ties with those who are responsible for the aggression against ukraine. from state members to the official who has lack of morale to break the state terror , all american companies must leave russia from their market, leave their market immediately because it is flooded with our blood. ladies and gentlemen, members of congress, please take the lead if you have companies in your district who finance the russian military machine leaving
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business in russia, you should put pressure. i'm asking to make sure that the russians do not receive a single penny that they use to destroy people in ukraine. the destruction of our country, the destruction of europe, all american ports should be closed for russian goods. peace is more important than income and we have to defend this in the whole world. we already became part of the anti-war coalition, big anti -war coalition that unites many countries, dozens of countries, those who reacted in principle to president putin's decision to invade our country but we need to move on and do more. we need to create new tools to respond quickly and stop the war , the full-scale russian invasion of ukraine, which began on february 24, and it be fair
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if it ended in a day in 24 hours that evil be punished immediately. today, the world does not have such tools. the war of the past have prompt ed our predecessors to create institutions that should protect us from war, but they unfortunately, we see it, you see it, new ones, new institutions, new alliances, and we propose to create an association, and responsible countries that have been strengthened to stop conflict immediately, provide all the necessary assistance in 24 hours, if necessary given weapon s, humanitarian support,
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political support, everything we need to save the world, to save life, in addition, such associations as unions provide assistance to those who are experiencing natural disasters who have fell victims to humanitarian crisis or epidemic remember how difficult it was for the world to do the simplest thing, just to give vaccines. vaccines against covid to save lives, to prevent new strains. the world spent months, years doing things like that, much faster, to make sure there are no human losses, no victims. ladies and gentlemen, americans, if such alliance would exist today, we be able to save thousands of lives in our country, in many countries of
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the world, those who need peace, those who suffer inhumane destruction. i ask you to watch one video, video of what the russian troops did in our country, in our land. we have to stop it. we must prevent it, prevent to destroy every single aggressor who seeks to subjugate other nations. please watch the video. >> ♪ ♪
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♪ >> and in the end, some thoughts. today, today it's not enough to be the leader of the nation. to be the leader of the world, being the leader of the world means to be the leader of peace. peace in your country doesn't depend anymore only on you and your people. it depends on those next to you, on those who are strong. strong doesn't mean weak. strong is brave and ready to fight for the life of his citizens and citizens of the world, of human rights, for freedom, for the right to live and to die when your time
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comes, and not when it's wanted by someone else, by your neighbor. today, the ukrainian people are defending not only ukraine. we are fighting for the values of europe and the world sacrificing our lives in the name of the future. that's why today, the american people, are helping not just ukraine but europe and the world to keep the planet alive, to keep justice in history. now i'm almost 45 years old. today, my age stopped when the hearts of more than 100 children stopped beating. i see no sense in life if it cannot stop the deaths, and this is my main issue of my
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stuart: president zelenskyy has addressed the united states congress. it was addressed at the lasted approximately 15 minutes and he concluded speaking in english with a direct appeal to president biden. zelenskyy said, as leader of the nation, be the leader of the world, be the leader of peace. that followed an impassion plea , former u.s. ambassador kurt volker is still with us. what impact do you think that speech will have on president biden and that appeal to the president right at the end? >> well, i think, you know, he's putting it very directly that we face a moral choice, and when we look back on this years from now, will we feel, well
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president biden feel or the members of congress feel, that we did everything we could at the time when it would have mattered? i think he put that very directly on the table and i hope it is something that all of the members and president himself deeply consider as we look at what we do next. stuart: do you think there will be a no fly zone, mr. zelenskyy wanted it. he says is it too much to ask? >> yeah. well, i think that the president and the administration at the moment are not ready for that. i wouldn't rule it out, because it depends on what happens. there will be new arms and assistance to ukraine. we talked earlier about these kamakazi drones and i think that's one thing that could be effective and it doesn't involve american pilots or american planes being flown by americans there. this is something ukrainians can do, but i don't think we should be taking any options off the table. let's look at what zelenskyy did first, he showed extraordinary courage and resolve on behalf of
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ukraine. that is tremendously inspiring. second, he made a very emotional humanitarian case, civilians lives are being lost and there's an urgency to this. third, he made this moral case that we talked about. what is our moral responsibility , and then fourth, he made a strategic case as well , because if we don't stop putin in ukraine, where will we stop him and what does it mean for the world if you crane falls? so this is a strategic interest to the u.s. to help ukraine succeed. stuart: a moment in history, i believe, ambassador volcker, thank you very much for joining us thank you very much. >> thank you. stuart: i'm going to transfer attention now to the markets. i was watching the markets and the futures as they performed during mr. zelenskyy's address. no impact on the markets as i could see. we still got a lot of green, neither up nor down from that position during the zelenskyy presentation. eddie ghabour with us right before we open the market this
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wednesday morning. i read your stuff, everybody knows it, i read your stuff and you say you're not being sucked into this rally. so you're still not back in it, eddie? >> not at all, stuart. we've been warning about the second quarter and i think the second quarter is going to be worse than the first quarter this year. look, investors have to come to the reality that our government created massive amounts of money , rates stayed at zero for too long and created one of the biggest bubbles in modern history and now we're going to the deleveraging process and deleveraging process is extremely painful. buying the dip has been the wrong thing to do so far this year, and i think it's going to continue to be wrong for the next few months. lastly, investors need to understand that the dynamics are why we've been so bearish since november. we have an economy slowing at a historic rate. we have earnings that are compressing at a pretty fast rate. gas prices through the roof adding more pressure to the consumer, and a federal reserve
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that's now going to tighten during that environment? i just don't understand the logic as to why someone thinks that be a bullish environment, so we did not tell clients to stay the course. we continue to play defense, and buy things that we feel are going to do more conservative investments in this environment. stuart: just give me an idea, give me a couple of stocks, if you can, that you've been buying recently, that you think will ride out this storm. just give me two. >> so what we've been doing is we've been going more on the eft sector style so for example, this morning, we are buying long term treasuries. i'm going to make another i guess bold call on your show. treasuries are ripping this morning because of the anticipation of fed rate hikes. we think that the economies going to be so slow that the 10 year bond is going to drop to the 1.7 range. we think the vix can get into the 40s, so by buying longer term treasury for our clients this morning, if rates go down, that could be a very profitable thing for them, so we're going to play that.
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look, people say don't fight the fed as a bullish case when they're being very lucive monetary policy. it works the other way. don't fight the fed. they are tightening telling you what they are going to do and the economy is slowing down. this is not the time to be a hero. stuart: well you've perked up a lot of people's excitement there by saying the 10 year treasury yield goes to 1.7% it's now at 2.16%. okay, i asked you for two things that you buy. you said yup, 10 year treasuries what else? >> precious metals. i think those are going to be your best risk-adjusted places to be. we didn't own any of those last year. we literally owned the opposite of what we owned last year. the other thing and we bought this yesterday was utilities. these are thins that are interest-rate sensitive that if rates come down these assets could do well and they are all flight to safety, and that basically is where we've been positioning since november and we are bracing ourselves for the toughest quarter we've seen in years and then, we will
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pounce on those risk assets and i can't wait to be a bull again on your show, but now is not the time to be very bullish on those high risk assets. stuart: okay, you spelled it out for us eddie and we appreciate that and i'm sure we'll be see ing you again soon. thanks eddie ghabour. >> thank you. >> [opening bell ringing] stuart: turn your attention, please, to the screen where the market is about to open this thursday morning. we're going to see some green, we saw a lot of green yesterday. the dow is up what, 599 of it? well we started trading here we go. yeah, up 599 yesterday, the board will now change and we're up another 266 as of this morning, so, you're back at 33, 800 left-hand side of the screen, this is for radio listeners, we've got 25, 26, 24 of the dow, a vast majority of the dow 30 are in the green. got that and we're up 300 on the dow. the s&p 500 also to the upside, to the tune of about 1% that adds on to yesterday's big gain. i want to see the nasdaq. that was up huge yesterday and
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it's up another 1.4% this morning. solid rally, all across-the-board. every single one of the big tech stocks, microsoft, apple, alphabet, amazon, meta all on the upside. want to take a look at the big picture for a second, we've got a nice rally going on the feds decision on interest rates come in at 2:00 this afternoon, 2:00 eastern that be. rate hike inevitable, lauren? lauren: a quarter point seems so watch for guidance, there's a chance, i'm going to say it, that this meeting, which be the first hike, since 2018 is a non-event. i just said that because the market and you're seeing futures up, or i'm sorry you're seeing dow up 300 points one minute into the trading session, it's priced in these seven rate hikes to counter inflation that's just raging. ppi yesterday 10%. stuart: i saw it. lauren: so the market might be okay with that. also hopeful finds of a cease-fire in ukraine, that's why you're looking at the price of oil if we can pop-up the
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screen it was below 100, still is, but it's up a bit today. retail sales, we've got them this morning. stuart: weakened a bit? lauren: they weakened a bit, that shows impact of high gas prices on the consumer, and retail sales are not adjusted for inflation, so, that means we're cutting back because of these high prices and you're talking about stagflation, you're talking about potential recession. watch what jay powell says when he's asked about those things at the press conference. stuart: larry somers former top guy in the financial world, he's got a headline this morning saying watch out, stagflation is on the way and maybe recession too. that's larry somers saying that but the markets paying no attention to it. lauren: for now. stuart: i think you're right. lauren: you heard what eddie ghabour said about the second quarter. stuart: yeah, we listen to eddie ghabour these days, right. first of all starbucks it's up 6 %, the ceo kevin johnson, he's out. is howard schultz coming back? lauren: he's coming back as the
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interim ceo, kevin johnson will retire after five years. a permanent ceo search is under way. the market likes howard schultz even though it's only temporary. in other news, jpmorgan upgraded starbucks to overweight. they see international operating profit back to pre-covid levels, and they say look, despite what's going on in china with the lockdowns, they maintain their affordable luxury status there. stuart: well, starbucks has had a tough time recently that chart tells the whole story. lauren: it does actually. stuart: bounce today of 6% i'm sure they take it. now china stocks put them on the screen. look, can you see that, those percentage changes there? these are stocks that the have been slammed for the last few days. why the enormous rebound? lauren: you know, if you believe it, there's a promise by china today to intervene to keep the market stable, including giving support for listings overseas, complete about-face. why? covid pressure, sanctions
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pressure, for helping russia. they are scared of potential sanctions by the u.s. and the west and that's why we're seeing huge gains in some cases record gains for household chinese names, but many investors are still saying this is like catching a falling knife because these companies have come down so much and the regulatory outlook for them is so unclear from beijing. stuart: you never know what's going to happen in china these days. lauren: no, risky. stuart: let's look at tesla. that stock is up about a half percentage point back above $800 a share. didn't the covid lockdowns in china have a negative impact on them? lauren: they are closed for two days today and tomorrow. shanghai makes 2,000 model 3 and y a day. the issue is we don't know if the shutdown corresponds to a production loss, if it lasts longer than two days. if they have issues getting more of the parts that they need, because of the lockdowns. stuart: here we go, we've got more news on a vaccine. lauren: yup. stuart: pfizer and biontech are asking the fda
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to approve a second booster shot wait a minute, who cares? very few people are getting booster shots at all. lauren: 44% of americans have gotten the first booster shot, and now they are pushing a second booster shot. this one, pfizer says, will be for people 65 years and older. the white house is expected to make a decision in time for the fall and that's when winter comes people go indoors you typically see covid spike. we have some data but not much that shows boosters are even that effective. stuart: right. lauren: so i think there's going to be big reluctance to get one nonetheless investors like the announcement because booster s are continuing revenue stream for the drugmakers. stuart: i've just come back from florida, four or five days. you don't hear much talk about boosters vaccines masks or anything else. lauren: and they got a lot of 65 -plus there too. stuart: they certainly do, me included. it's just wide open. totally different atmosphere. i'll get into that a bit later on. now i see on my screen here, the barcelona football club known to soccer fans as barca.
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what's spotify doing? lauren: signing a stadium and shirt sponsorship deal with the spanish soccer team that means spotify the logo will be on the uniforms for the next four seasons. stuart: how many viewers really care about the logo on the jersey? not many i'd suspect but it was a good story. lauren: moved the stock. stuart: it did, well maybe. nvidia chipmaker, of course big one and they are up, wells fargo likes them? lauren: yeah, they struggled recently actually. the stock in the past year is up more than 70%, wells fargo has added them to the signature pick s list next week is investor day, and they are expecting some nice announcements. stuart: you know, it is actually quite exciting. you're sitting here, it's a wednesday morning, the dow is up almost 400. lauren: i know. stuart: it was up 600 yesterday that's 1,000 point swing. lauren: in two days. stuart: in 24 hours actually. that's all you got and the winners nike on the top there, up 3.7%, salesforce, intel, a lot of winners today.
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go ahead. lauren: everything can change at 2:00. that's how volatile this market is. stuart: if he surprises everybody. if it's not a quarter point that's a surprise and the market will react. lauren: as in 50 point or no hike at all. stuart: if there's no hike at all or a 50 point hike, you've got a big reaction. on your screens the s&p 500 winners headed by las vegas sand s which is up 7%, starbucks is on that list too. nasdaq is starbucks on the list, of course up $5 micron is on it, i can't read the rest of them but there's no big tech names not there. the dow is up 391 points, a little shy of 34,000. the yield on the 10 year treasury, 2.16% if you're watching a few minutes ago eddie ghabour, who has been right on a lot of things recently he thinks the 10 year yield goes down to 1.7% how about that? price of gold retreating much further away from $2,000 an ounce, 1,920, bitcoin at 40,
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500 the price of oil last time we checked it was $98 and now it's up 2% 98.54 nat gas we haven't seen much movement from that, the average price for a gallon of regular gasoline holding at $4.30 so it's actually down all of one cents but you're still paying $4 for gas, and california is 5 point 77 is their average for regular in the golden state. one of putin's cronies demanding repirations from the united states because of biden's sanctions, he wants alaska back. seas of devastation in the city of mariupol, one hospital held hostage by russian soldiers as mass graves appear across the city i'm going to talk to mariupol's deputy mayor on the show today. what to expect in the battle for kyiv, my next guest, i'll ask her what putin really wants to happen in the ukrainian
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capitol, that's next. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. alright, so...cordless headphones, you can watch movies through your phone?
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stuart: the war on ukraine, look at this. ukraine's zelenskyy versus russia's putin. what to expect in the battle of kyiv. that piece military analyst rebecca grant who joins me now. rebecca, may i ask you think us to start with. does putin want to capture and/ or kill zelenskyy? >> i think he would like to catch zelenskyy because toppling zelenskyy government has been his stated goal from day one and we've seen the number of attempt s on zelenskyy's life. i think there's no question that that was definitely something putin wanted to do. stuart: what do you expect to see in the coming battle for kyiv?
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>> and remember, no one knows what goes on in putin's mind. i mean he be smart to stop now but here is what the military situation says to me. russian forces are now forming on either side of kyiv. they are well-within their artillery range which is about 12-25 miles, so we'll see the regular russians and that is using a lot of long range fire power, that's going to be missiles coming in from russia and belarus, also air launched missiles and then artillery, and they will slowly start to see small armored units move through the kyiv suburbs on both the east and the west side, probing and trying to take more ground as they come in through the suburbs. we see ukraine fighting back against that, and if the battle continues, that's what the battle will look like, small russian units coming in and ukraine trying to fight back. stuart: if america did supply these kamakazi drones which as i understand it is a guided bomb that can hover over a target for
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30 minutes, hit a target 50 miles away and be guided to it, if we did supply that kind of weaponry, would it make a real difference to the ukrainian s? >> it could. that's really popular with our special operations forces. it's better for going against the wider vehicles but it does have an anti-armor mode so it can be very helpful but remember , everything we've given ukraine's defenders is close- range weapons. you know, as nato, the u.s. , we like to fight with air power and long range weapons. we've asked ukraine and zelenskyy's forces to fight really close in, a switchblade is a great weapon but again it's a very close fight street-to-street-type of weapon really tough battle for them. stuart: what would make a significant difference in terms of military hardware that we could supply? >> well, if it was last week or last month, a no fly zone would have put the lid on russian maneuver, but at this point, what we need most of all is the
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most intelligence and surveillance that we can get to zelenskyy's forces showing where the russians are and where they're moving. in addition to that weapons like switchblade, javelin, the other weapons are great and key to all of it if we see a long battle for kyiv, zelenskyy's got to keep the supply roots to the best open. we need to help him defend that. we've got 14 nato countries bringing in aid at this point, we've got to keep that going and honestly, nato and the u.s. , we have to decide if we want zelenskyy to win or not. stuart: yeah, that's it isn't it do we want him to win or not. rebecca grant, military analyst thank you very much for being with us and sharing your expertise, we appreciate it, ma'am, we'll see you again soon. >> thank you. stuart: sure. a russian court has fined the woman behind the anchor there, who made the protest on live tv. they fined her, i mean, i bet she wasn't treated well. lauren: she was interrogated for 15 hours, she was fined 280
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u.s. dollars, but you know, no one thinks that's the end of her punishment and what's going on right now in russia has, you know, the new york times are pulling their journalists from moscow because there's new laws that say if you go on tv and call the war a war, you can face jail time of up to 15 years, so that woman holding that no war sign, marina ovinskova is very brave. she did an interview with reuters and said she's very concerned about her safety and has no plans to leave the country and she hopes she's spared criminal charges as do we stuart: okay look we're concentrating a lot on ukraine and the military situation. let's not forget we've got a very very solid rally going on dow is up 430 points, okay, back to the war. fears of a nuclear conflict with russia sparking panic buying of radiation blocking pills i guess that's in america, price gouging lauren: one ebay seller is trying to sell a five-pack for $1,000, 10 times the normal price, no bids o in that but yes
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, there is big demand for potassium which does block radiation from nuclear weapons and in the back drop, russia is a major nuclear power. stuart: who would have thought we be talking about the possibility of nukes three weeks into this war. lauren: when you're dealing with a crazy man. stuart: very true. to the markets dow is up 400 points to be precise, nasdaq up 270 that's over 2%, and a strong 1.5% gain for the s&p so yesterday's rally continues this morning. get ready, here comes the biden recession, it's not me saying that. that's the title of liz peek's latest op-ed. she's here with a warning, the warning, coming up, next. inflation really hurting those spring breakers. jeff flock has the story from philadelphia, after this. flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives,
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stuart: if you're traveling, you're getting hit with higher prices on just about everything this year, so let's go to jeff flock, he's in pennsylvania. take us through it. higher prices across-the-board. go, jeff. reporter: it starts with gas prices, stuart, and then it goes up from there. we're at a station here in winco e, pennsylvania right at the national average now at $ 4.30. that is, well it's up about a
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nickel from last week, but it's down compared to yesterday. we may have hit a peak, and i'll tell you when it comes to spring break, that's just the start of it. what if you want to rent a house okay that's going to cost you about 16% more if you go to the coast for spring break. if you go to the mountains maybe 20% more, and according to the folks that have been surveying folks out there, it doesn't stop there. listen. >> a lot of other industries are starting to suffer like retail, food out, to-go, so definitely there's an impact and we see this not abating, given current circumstances geo politically speaking so as you approach the spring travel season, when you're normally seeing more mobility, there's a lot there. reporter: mr. "varney" always likes positive news, so let me try this on for you, stuart. yesterday, the energy department issuing a new forecast for oil production from the u.s. next year. they say it's going to be up by
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about a million barrels a day to 12 million-barrels and the following year maybe up even more so despite obstacles u.s. producers coming through, andy lipow also pretty good on forecasting these things says he thinks gas prices are going down about $0.20 on average for regular in the next couple of weeks, and diesel down about $0.60 so that's good news, but the folks at ubs say and i quote from their note yesterday, " despite the recent slide we see crude prices as well- supported" so i'll read that as well-supported at high levels even if not the highest of levels. get your wallet out, mr. "varney", i know how much you hate it. stuart: yes i certainly do but i think we'll be paying $4 for gasoline for sometime to am could. reporter: for a while. stuart: i think so, jeff thanks a lot see you again later. to the markets, please. the rally holds the dow is up 360 points, 33, 900 look at that nasdaq go, up 2% again this
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morning, up 265 points. check out the retailers. we had some retail numbers coming in earlier this morning retail sales coming up a little short in the month of february. inflation hit the consumer there but the retailers are all doing well this morning. and then we've got this , interesting stuff. sarah bloom raskin has withdrawn her nomination to the federal reserve. her decision came not long after manchin said senator manchin would not support her. lauren: absolutely, and manchin was a key democrat or republicans were against her becoming the government's most powerful banking regulator. they didn't like her politicization of the fed deciding how and to whom to allocate capital, or in other words cherry pick which industr ies they were going to prop up or not. senator manchin comes from coal country, west virginia, and raskin had previously written about denying funding to fossil fuel companies. stuart: she's partly responsible for what's going on in the oil
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patch right now, which is, the banks were, they staved the oil patch for capital. we needed them to increase production dramatically, couldn't do it. lauren: and don't want to take on the risk, and whatever her beliefs are, the point is, they shouldn't be taken to the federal reserve. that's not the feds job. it's a message being sent to the biden administration as they make these picks. stuart: okay, i consider that good news for the fed and our economy. still ahead, texas congressman pat fallon, todd piro will join us, estonia's ambassador to the united states will also join us and former israeli ambassador michael orin will be on the show too. the 10:00 hour of "varney" is next.
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bitcoin at 30,775. 30 minutes ago ukraine's president zelenskyy addressed congress calling for a no-fly zone, sanctions on all russian politicians and all american companies to pull out of russia and played a heartbreaking video showing the destruction in his country. lawmakers gave him a standing ovation, had no impact on the markets. we got the latest on sentiment. lauren: it fell to 79. this indicator is flashing caution. buyer demand is solid but builder problems are growing. you have supply issues and higher costs. builders cost up 20% in the last year pushing homebuilder sentiment down three months in a row. at higher interest rates and it doesn't look good in a strong market.
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stuart: inflation and higher interest rates not good. here is an op-ed called get ready, here comes the biden recession. sounds like the kind of thing liz peak would right, liz peake wrote that so when are you expecting this recession? >> investors are looking at 2023, a top economist on wall street survey their clients, one hundred% said there would be a recession in 2023. i was surprised because i didn't think there was such unanimity. that is why the markets are down. inflation, let's start with inflation and the fact that the fed has been behind the 8 ball. inflation at 8%, four times the fed preferred level and now they have to step in
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aggressively. we are hoping for a soft landing, that they will managed to be nimble in talking about how they had to respond. on top of rising prices and supply chain problems which have gotten worse because the problems in china and the war in ukraine you have the war in ukraine, more inflation coming out of that, more hiccups in terms of getting goods to consumers. consumers are in good shape financially but will they spend if they are increasingly concerned about inflation? the michigan sentiment survey shows they are concerned, worst reading since 2011. consumers are more worried than at the depths of the covid nightmare in 2,020. that is something. stuart: inflation hits everyone all the time which everybody can see it and everyone feels
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it and talks about it. >> we see red flags, homebuilder sentiment. that is one of the key pillars of an economic recovery as mortgage rates are weakening. stuart: you are talking a recession next year, 2023. >> i don't want any recession but that is what people are anticipating. stuart: see you again soon. let's get back to the markets. a rally which a rally going on. 34 minutes is how long the market was open. 333 for the dow 270. david barneson joins us. a big fed meeting this afternoon. what are you expecting? >> it is not a surprise because that's the way the fed operates, they spend months telling you what they are going to do and today is the announcement of what they told
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you had been announced. they will raise rates accorded point, watch data for the rest of the year. the market think they will raise rates 5 or 6 more times. i think they will raise rates 2 more times. eventually the yield curve, credit spreads blow out, all this liquidity credit markets have got used to spreads higher and all of the sudden they say we put the brakes on but they won't say they are doing it without reason. there will be disinflation. the inflation rate will come lower because a lot of its elevation was from extra events related to supply chain and they will use that as their excuse for stopping what they need to do to monetize monetary policy. stuart: it sounds to me like a fairly rosy outlook. >> i don't think it is rosy at all.
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our economy needs normalized monetary policy. i disagree that the reason is the inflation pressure. you don't want 0% interest rate because you want growth in your society. the fact that everyone is celebrating low interest rates that are artificially low is insane to me. we don't want artificially low rates. we want growth and there should be a time price, that is natural and organic. i'm not being rosy by predicting the fed will intervene in capital markets. stuart: let's get to your dividend pics. gilead sciences. make your case. >> some healthcare names, this is because we've been doing a lot on energy and a lot going on, russia, ukraine, consumer staples are hurting, gilead is a great example, the drug
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companies, as much as you can be, people need healthcare, pharmaceutical, gilead is a 5% dividend yield, very underprice. stuart: gsk. >> similar story spinning off their consumer products division and you have a great pharmaceutical company, 5.3% yield. stuart: 5% i could live with. last one. merck. >> merck has grown the dividend every year and that really strong staple in american pharma, their therapy works across a million platforms so merck is solid along with higher yield. stuart: always good stuff.
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thank you for joining us, see you again soon. the movers include las vegas sands which is up 7%. lauren: beijing a signaling 7 stocks on lockdown. that makes it hard for players, gamblers to travel so it is gaining back its losses. stuart: a lot of those tech stocks have rebounded enormously. micron is up 6%. lauren: a 94 price target so significant upside. it had been 58. the macro environment is impacting, the slowdown we've seen but it will be short-lived and that is what investors want to hear. stuart: what do we have with lockheed martin, down 6%?
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lauren: their biggest customer is the us government defense fund and the pentagon will request 33 fewer f 35 stealth warplanes in their next budget. stuart: that makes a big difference because those things cost billions. doortheash. lauren: i filled up tweet to cars yesterday. what is happening, i am saving my receipt and taking pictures of it. they use a company's debit card and get 10% cash when they fill out so the company is giving the refund but if you are an uber or lift driver it is $0.50. they are absorbing it as if the customer has another charge on their order but if you're ordering from home, the bill will get very expensive.
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stuart: thanks very much. now this. . i spent the last four days in florida and now i am back in new york day and night, florida is booming. masks, where them if you want, nobody asks for your vaccination. food is positive. floridians are having a good time. a lot of northern snowbirds are staying down south. give credit to republican governor desantis. day and night, here, there still vaccination mandates for private companies. i've lost track of the unvaccinated workers who lost their jobs. the office buildings are half-empty in midtown manhattan and yankee metz failures who are not vaccinated will not be allowed to play home games.
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omicron is almost gone, baseball is played outdoors but you can't play without affecting the doesn't work anyway. democrat governor huchul was booed when she dropped the puppet a rangers game. politics remains at the heart of the covid levi. republican states are enjoying their freedom and the prosperity that comes with it, democrat states remain locked in an authoritarian mindset, scared to such as 3. nobody has done more to ruin public schools in big cities in new york. randi weingarten runs the teachers union and she's showing support to ukraine with the ukrainian flag upside down. come back in. do you agree with me? lauren: that we are through the
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pandemic? lauren: we've seen a lot of things turned upside down like the next being fined $50,000 because one of their star players went into the locker room and preschoolers have to wear masks in their formative years, and it is still in effect. covid is here to stay fall into winter. we have to figure it out because we can't live like this forever. stuart: why is it a different story? same country. lauren: politics. a little bit of the weather into that.
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stuart: still ahead the former israeli ambassador says a new deal with iran is a betrayal of our allies in the middle east. the ambassador will be here shortly. president biden facing pressure to ask:to send big fighter jets to ukraine. he will join us in the next hour. ukrainian cities including kyiv under a curfew as russia continues to bombard. mike tobin live on the ground with breaking stories after this. (vo) for me, one of the best things about life is that we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives.
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stuart: we can call this as we today rally. the dow is a 470, above the 34,000 level above 499 yesterday. the nasdaq composite is up 346 points. that is a big rally yesterday and again today. russia's attack intensify advancing closer to kyiv. mike tobin is in lviv. >> reporter: the latest in terms of status update, the bloodshed continues, at the city's where ukrainian forces are holding the line.
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and and that created a dramatic visual in kyiv as an apartment building was hit by an explosive around, continued evidence of the russian army hitting targets. and car kyiv was pounded with artillery and the key strategic city of mariupol is said to be a humanitarian disaster, and russian naval ships, ukraine's deputy prime minister, taken position in the hospital holding staff hostage. >> occupants were shooting at humanity, essential areas. as well as taking hostages the company people.
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>> reporter: remaining staff at the embassy in kyiv says russian soldiers northeast of kyiv fired on people waiting in a bread line killing ten people. stuart: it takes your breath away. ten people dead in a bread line. president zelenskyy has addressed congress. he called for the us to close the sky over ukraine. here with me is former israeli ambassador michael oren. what would it take to impose a no-fly zone. it would take a huge military operation to set it up. >> a no-fly zone sets the stage
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for military contribution, they will be shot down and the minute those planes shut down a major escalation will begin. >> >> is relapse position is one of guarded neutrality. the prime minister has taken a neutral stance to act as a mediator, it is a risky game, israel will go down as a country that did not stand with the united states, the only democratic country that didn't do so and we may pay a price for it. stuart: what is your opinion? it is very likely.
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>> it is a betrayal. the current administration, promising to restore relations with allies. arab countries in the gulf our allies and we all agree this endangers us, our security and existence. a terrible agreement. it will be a worse agreement than the one in 2015 which enabled he ran to spread influence through the middle east and spend tens of billions supporting terrorist groups sworn to destroy us. i don't know how a country that stands by its allies will do this. and the worst news is the russian prime minister yesterday said he has been writing the united states will exempt a ran from the ukraine related sanctions on russia and continue to do business with a ran. a trail -- betrayal of israel
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and the ukraine. stuart: why is it 2 democrat president, president obama and president biden, are being so negative to israel? why? >> they stand by this agreement with a ran. it has become a holy grail in that branch of the democratic party. no one knows what is in it. no one is listening and we are saying again and again read our lips, the agreement is endangering 10 million israelis, you may think twice before signing it. stuart: ambassador michael oren, thank you for providing that insight. a russian whistleblower is speaking out about china's plan for taiwan. who is the whistleblower and what is he or she saying? >> reporter: he says putin's
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invasion upended the timetable to invade taiwan. that was supposed to happen in the fall. now he sees the whole world condemning vladimir putin for what he did and might not want that to happen. if president xi is considered vulnerable, does he align with us? can we negotiate? can we push him to do more. stuart: difficult to work out. stuart: who aligns with who? stuart: who aligns with who? lauren: the no limits partnership with president putin made at the sidelines of the beijing olympics, the reports the china was asked for military and financial aid by russia and china says we are neutral? i think they are vulnerable and things might change.
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stuart: could russia take back alaska? you may laugh but that is the latest demand from a russian lawmaker. the governor of alaska will respond. russian troops seized the ukrainian city of mariupol. 500 people reportedly held hostage. the deputy mayor of that city will give us the latest update after this. ♪♪ 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. ♪ ♪
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♪ ♪ stuart: quick programming note, sean duffy hosting and inflation in america special on fox business. sean will speak with american families facing higher prices at the supermarket and gas station and everywhere. you can watch it at 5:00 eastern. look at those markets. the dow is up 500, 448 right now. the nasdaq is up 363. a solid rally after yesterday's solid rally. there is progress in a 15 point peace plan.
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we bring you the headlines, upward impact on the market this morning. looking at tesla which is up 4%. lauren: they are holding work for 2 days. bad news but may not impact production. in an up market tesla is higher. this is an interesting story. an employee who youtube the did the about the beta version was not positive. that's not a breach of the loyalty, it champions free-speech with the exception. didn't unveil any company secrets, to use that as well. stuart: a few minutes ago starbucks was up 5% or 6%. >> a big increase since 2020.
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howard schultz is back while a permanent replacement is being prepared for kevin johnson. bring in the unions to this. shoots was antiunion for the year. we don't need unions because we have a strong relationship with partner employees and i think investors believe howard shultz will help cite the unionization. stuart: shoots will fight the union strongly. what else have we got? boeing, 5%. the 737 max which had been grounded in china for three years might be commercial worthy soon. a plane was flown from washington to china for fitting to get ready to fly. stuart: that is why it is up 5%. if it gets to china, big deal. ukraine's president zelenskyy asking more help from america
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and the western world. grady trimble on capitol hill. what does mister zelenskyy want to? >> he once again asked for a no-fly zone over ukraine which has so far been a nonstarter for president biden, zelenskyy proposed more military assistance including aircraft. and the russian military machine stops. they called on members of congress to put pressure, and pressure on them to -- calling on all american ports to stop russian goods from coming in. >> the russians did not receive a single penny they used, all american ports should be closed for russian goods.
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peace is more important than income. >> president zelenskyy appealed, calling on president biden, we expect to hear from president biden later this morning where he will offer $800 million in military assistance. and not sure about that. >> thanks very much, see you later. welcome to the show. forces occupying, holding patients and staff hostage.
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>> and and you need to q in, during night, morning, in -- it is true. stuart: is also accurate that mariupol has been devastated, 200,000 civilians died? is that accurate. >> the latest estimation, 90% is with images. you should understand mariupol hit 3500 different buildings, 90% of them were damaged and 40% could not be repaired so it is totally destroyed.
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stuart: you are still holding on. you are still fighting. the russians have taken control of your city. >> we still fight. it is hard. street battles with the ukrainian army against russian army. you should understand, to continue the speech of our president, most of the damage is after airstrikes, we calculated 29 airstrikes, 100 bonds. it is all over the city. stuart: president biden has said no to a no-fly zone you can expect planes to continue to bomb your city.
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>> you -- need to defeat the city and our citizens, and it is not -- it is not possible to leave without food and water, and russia pushing ukraine, to push ukrainian to give up against war crimes. stuart: sergey orloff, we have you in our thoughts and prayers, thank you for being with us. you may think this is a joke but one russian lawmaker is making a big demand on america.
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you wants to take alaska back. lauren: which alaska purchased in 1867. he wants port of california, fort ross, 90 miles north of san francisco. he is the mouthpiece for the kremlin and alaska's governor responded to his outlandish demand. >> someone in the russian parliament occasionally say they lament the fact they gave up alaska many years ago, 1867. we never take it seriously. we have a significant military presence in alaska, air force, army, who knows what we have under the sea but we feel pretty protected up here. lauren: russian parliament member asked to the us paid reparations for economic sanctions. they started the war so we will pay them respirations? stuart: the whole thing is a joke. thanks very much.
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estonia was the first nato member to call for a no-fly zone in ukraine. would any other nato member make the same call, why were the estonians the first? i will ask the estonian ambassador who will join us in the next hour. the uk handing out checks to has ukrainian refugees. growing concern refugees could be exploited. we've got it next for you. every business is on a journey. and along the ride, you'll find many challenges. ♪
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stuart: the rally continues. the dow is up 370. the nasdaq is up 360. of solid rally indeed. the price of oil falling on the latest read. we had a build of 4.3 million barrels putting the price of oil up $0.14. $96 a barrel. i want to get back to something i spoke about earlier on the show. this picture.
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randi weingarten on the right who in my opinion has done the most harm to public schools in big cities like new york. here she is showing support for ukraine with the ukrainian flag upside down. president of a huge teacher's union. charities warning about britain's homes for ukraine program giving money to families who take and reached -- ukrainian refugees. what's the problem? lauren: time. 120,000 to host the ukrainian refugees and they will get paid 350 pounds a month the. the city gets 10,000 pounds to fund education, housing and the like him. for where he the worry is there is exploitation of these women and children that could happen with a massive humanitarian effort to resettle millions of people. that is inevitable with these big numbers.
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stuart: the brits are doing the right thing, bringing them in. the schools will take them in. you get worried about corruption and doing the right thing. lauren: no visa requirements either. stuart: we will do the same thing here. thanks. this is a difficult couple days for the fox news family, 2 of our coworkers have died in ukraine, working with benjamin hall outside kharkiv when incoming fire hit their vehicle, benjamin was injured is in the hospital. pierre zakrzewski and oleksandra kuvshyova did not survive. pierre leaves behind his wife, michelle, and a loving family. they were our car leaves, heartbroken at the loss of a legend. >> outside the refugee camp filming refugees and we could hear gunfire in the background. >> reporter: zach has been with fox news for years in and out of war zones.
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>> grabbed the sticks. >> reporter: before ukraine, pierre was on the ground in iraq, in afghanistan, in syria. he covered conflicts between countries and held a report in the middle of the alliance. pierre was a steady presence in uncertain times. when the correspondent or producer arrived and saw pierre waiting for them, they knew they were in good hands because he could do just about anything. he shot video, fixed equipment, produced stores and edited pieces on the fly. pierre seems to always know the background of every location, every story and had extraordinary ability to do his work under incredible pressure without sleep. some of our correspondence who worked closely with him feel this loss especially hard. today, trey yingst said he was as good as they come.
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selfless, brave, passionate. jonathan hunt says he has never forgotten the smile and welcome he received from the air in 2003 when he first arrived in baghdad. he says pierre made everyone a better journalists and better person. amy kellogg says pierre was warm and generous with his time. a rare breed of war reporter who never got jaded. greg paklkott said during the battle of falluja pierre saved his life on many occasions and adds that pierre hated sitting around the newsroom. he wanted to be out chasing the story. greg noted when the worst was happening, pierre would repeat his favorite advice, to keep on smiling.
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back to fight or serve, to help in places like hospitals. they are seeing and feeling the absolute devastation and vladimir putin's atrocities in their homes and even women, i shouldn't say it like that but women too are coming back to help. stuart: our next guest was in spain when news of russia's war broke out. he went back to ukraine to fight for his country. what exactly are you doing? are you patrolling the streets with a gun? >> my greetings from ukraine and kyiv. i am sorry for my look, after this i will go for duty and at this moment, nobody can go on
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streets so preparing, the ukrainian capital and preparing the buildings and duties and streets and defense of people. every one of them, we sold -- at this moment, we don't sleep a lot, only 4 hours per day but we are ready for every moment until we are ready for every second. stuart: have you had any military training at all? >> not a lot. in the university i had a little military training but it
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is not a profession. i'm a simple guy. it is not my business but when the enemy goes to my home i defend my family, my territory so there's another way and i need to do that. stuart: have you come face-to-face or in direct contact with a russian soldier? >> this moment i haven't. because my position is in the city and they need to go on board and only after this, we are home but prepared. stuart: have you seen damage to civilian buildings and kyiv?
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zelenskyy addressed the united states congress and said not for one second have we ever thought of giving up. you feel the same way? >> it is our country. we have a long history, we have long fights with russia and before this, the chaplain twee 8 years ago, and simple people, we want to be a democratic country but it -- they want to fight with their neighbor and we need to protect not only people but democracy. stuart: congratulations, we
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>> no one knows what goes on in vladimir putin's mind. what we need most of all is intelligence and surveillance, showing where the russians are, we have to decide if we want zelenskyy to win or not. >> this is our moment to help ukraine bleed out the russian forces and cause vladimir putin to want to end the war. we should give him everything we can right now. stuart: 11:00 eastern time wednesday, march 16th, the rally continues. that industrials up 400 points. the nasdaq is up 2.7%. i call that a solid rally. the price of oil down $95 a barrel. supplies unexpectedly -- supply up, demand constant. the 10 year treasury yield
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moving to 2.17%, close to the 3 year high. now this. how far are we prepared to go to stop the russians? two hours ago ukraine's president zelenskyy made a plea for help from the west, that is us. the america leads the west. it is america that will have to decide what help to give. listen to zelenskyy address the president personally. >> i'm addressing president biden. you are the leader of the nation. i wish you to be the leader of the world. being the leader of the world means be the leader of this. stuart: direct appeal to president biden. he wents a no-fly zone. the white house says no. that would amount to
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escalation, might provoke vladimir putin to do heaven knows risk world war iii. zelenskyy wants a game changer, they are not willing to give it so far. it could change. the new york times reports the biden team might have switchblade, because the drones, remotely guided bombs that can have her over a target for 30 or 40 minutes, the smaller versions cost just $6000 each. is not the same as military jets enforcing a no-fly zone. advanced, causey drones would put the fear of god into tank commanders gearing up for streetfighting and kyiv. any advanced antiaircraft missiles would do the same for russian pilots. if we want to support zelenskyy we have to step up lethal military help and the question stands, how far are we prepared to go? like it or not president biden is a wartime president. third hour of varney starts right now.
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who is with me? todd pyro. what did you get out of zelenskyy's address? >> at the risk of being hyperbolic something has changed in the last two hours or the last four weeks we have been watching scenes of destruction and death out of ukraine. we know it is bad but when a leader addresses your nation like that something changes and i am not somebody who has served in the military. i'm not someone who understands foreign policy to a heightened degree but as an american fat burning desire to help those poor ukrainians is increased in me, individuals from congress following zelenskyy's speech there appears to be more bipartisan support to do more.
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we need to stop the delineation between this is okay but this isn't okay. if i write a check for one dollar to help the ukrainian war effort am i not going up against russia? what is the difference between any support we give whether it is drones or weapons versus the big planes? we need to rethink that strategy? we don't want to put troops on the grounds but we need to give them all the resources they can in ukraine to survive. i don't see a delineation between planes, guns, tanks, whatever. stuart: provocation, do you think there is no stomach for getting close to shooting at russian troops? a stomach for real change where we make a huge difference militarily? is there a stomach for that in congress and the administration? >> i don't think the shooting war is something americans
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want. we saw what happened in afghanistan. russia is a truth than to be. an entity with nuclear weapons. we can provide the ukrainians with more. we can do a lot more with sanctions. we need to go full out. how can you get worse than shelling children. they ruin russia. military support switchblade drones changing it on the ground to. they are willing to go that far. >> we waited too long. a day late and a dollar short and that is not todd speaking but every member of congress speaking. this is bipartisan. our congress wants our president to act and he better act soon. stuart: we are learning senate majority leader schumer is
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going to call on ceos of oil and gas companies, that is unconnected with ukraine. the democrats are blaming the oil companies for energy price. >> this has nothing to do with them. this has everything to do with domestic oil production, restarting it and stop getting foreign oil. we have set it on fox news, wake up, biden. stuart: back to the markets. that was up, 360. that is a rally. miraculously and very, why such a huge rally continuing today? >> production became lower than people expected calling the
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market down and said we will do something predictable which is raise rates by 1/4 point. they don't like that. stuart: do you have the impression of a great selloff was overdone and we hit a bottom three or four days ago? >> i remain cautious. price volatility will continue for a little bit and the situation ukraine will give geopolitical -- perhaps still big on cash. stuart: so am i. why put money into stocks at this moment when there is a war in europe, 10% inflation. rate hikes from the federal reserve, heaven knows what impact on the economy. if we have one hundred thousand dollars in investment account, what reporting cash? >> 56% loss in cash but waiting
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to move and the time is coming. stuart: quite soon. where do they move back into big tech? >> with the guild coming up big tech, stock prices suffer when interest rates go up. the treasury yield is coming back up. it is moving into stable industrials, financials the do well in high rate environments. stuart: putting money back in soon, when is soon. >> let's get through this rate environment and see what happens. therapy stocks happening in russia to the point, that the us will do more. the resolution is in sight, the time to start making calls again. stuart: you could be talking weeks as opposed to next year. i love that accident. don't change a thing. we will see you soon.
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where are you from? london? >> you got me on that last time. >> you never say that about me. you don't like the jersey accent? stuart: you don't have a jersey accent. do you know where i am from? can you tell from my accent? >> i can but you are here so long you are proud american. when i got back to england they think i am american. >> i get that too. i sound like mary poppins. stuart: a lighthearted note in the middle of a difficult day. will done. you did excellent work, see you soon. let's go to lauren who is looking at the movies including a huge move from nike. lauren: nike is leading the dow reporting earnings next week and the pandemic winner. they are expected to maintain the momentum and despite a slowdown in a major market
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which is china. analysts say a strong pricing is holding and they are bullish on the futures ahead of earnings next week. stuart: how about going base? not sure if it is upward, it is 9%. >> reporter: they are introducing coin base pay so users can fund their crypto coin base wallet from their online bank accounts. it is easy. if you look at the price of bitcoin it held 40,000 key level, did so for the first time in five days. stuart: i'm always interested in dating services including match group which is up 5% today. lauren: they are rolling out a dating meta-verse. people are sick of online dating. people want to date in the meta-verse. everyone is trying to get to the meta-verse but dating shouldn't happen there. or fulfill certain fantasies. stuart: i will move on from there. i don't know what you are talking about.
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afghanistan, this is serious stuff. afghanistan is bracing for a summer of terror attacks inside afghanistan. estonia, the first nato country to call for a no fly zone in ukraine. what made them take that step? are they afraid of russian retaliation? good questions for estonia's ambassador to the united states who will be on the show shortly. russian attacks on the outskirts of kyiv. russia says they are nearing a peace deal. we have a report on it from kyiv next. at adp, we understand business today
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stuart: russian forces strike a 12 story residential building and set fire to several buildings in the area. 2 people injured. trey yingst using kyiv. the latest. >> reporter: russian forces are targeting buildings in the city. 2 people were injured at this 12 story apartment building early this morning, 37 others evacuated by officials on scene. this gives a sense of the destruction these russian shells can cause. ukrainian defense remains active as they try to attack from the air. ukrainian officials say they want military counteroffensive in other areas of the country. this captures a ukrainian strike in the eastern part of ukraine. in mariupol thousands have been able to escape through humanitarian corridors. the deputy prime minister says
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the agreement around these evacuation routes are violated by the russians and some people are being held hostage in ted this to say about the situation. >> reporter: occupants >> translator: convoys of buses, residential areas and points of gathering of people as well as taking hostages. >> reporter: in the distance i can hear explosions. there is been small arms fire and air raid sirens in kyiv. the city is bracing for what could be very violent days ahead. stuart: thank you. i want to bring in the estonian ambassador to the united states. estonia was the first nato nation to call for a no-fly zone. why were you the first?
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>> estonia -- knowingly through about this crisis but a long-term relationship. so there is a great deal of attention to the war going on right now. as far as the no-fly zone it is important to focus on what ends our objectives which is to re-create a safe environment for civilians, restore the territorial integrity of ukraine and very important to raise the cost of the aggressor so ultimately as a result of this war in ukraine. stuart: president biden is concerned that a no-fly zone would mean direct hostility between nato forces and russian
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forces and set off world war iii. this morning president zelenskyy issued a plea for a no-fly zone directly to president biden. do you think president biden will soften of land accommodate president zelenskyy? >> president zelenskyy's speech certainly would help to galvanize, to support ukraine and support the end of this war. he said there are different ways to support ukraine. different lethal weaponry and even this year estonia has provided ukraine with assistance in excess of us$200
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million which is a great deal considering that and continue to support ukraine. stuart: baltic leaders are calling on nato troops to be permanently stationed in the region because they were worried about an invasion from vladimir putin. does estonia want american troops in estonia permanently? >> yes. us presence in the region was a stabilizing factor, a capable military and other allies, primarily, unassuming. stuart: do you think nato is united and stronger and more firm? >> i've been in the business of
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security and defense for 20 years plus. i have never seen the level of unity we are witnessing today. vladimir putin has achieved something that is quite extraordinary. stuart: thanks for being with us. hope you come and see us again soon. russia wants to overturn the ban on russian clubs taking part in european soccer competitions. they want to overturn the ban. was the band. was it succeed? >> russia's attempt has been rejected so to review russia's soccer teams have been suspended, no russian clubs complain the champion league at the national side is banned from playing in the world cup. stuart: is a forced get out of our systems, you can't take
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part in this sport. it is complete isolation forced on the russians. >> the question is will putin bend to it? when the billionaires and oligarchs pressure him that is when he comes to the table. don't know if the soccer band will make him cave but a former soccer guy and other many people make the case, he will. stuart: what a fascinating story. you were a soccer player. the market showing a nice gain, the dow is up 370, nasdaq up 350, s&p up 67. there had been talk of peace talks between russia and ukraine, a 15 point peace plan, lots of talk about it. that is helping the market. more lawmakers calling on the president to change his mind and allow poland to send big 29 fighter jets to ukraine. congressman pat fallon is one of those lawmakers.
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the president will head to europe next week. it is a nato summit all about the war. those ukraine's parliament think biden is doing enough? i will ask a parliament member from ukraine next. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals.
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stuart: a fascinating situation. we have a war in europe. we have the federal reserve raising interest rates this afternoon. it will be a series of rate increases and a 10% inflation rate. despite all of that the dow up 600 points and another 400 today. a solid rally in the face of all kinds of things that should create a selloff but we got a rally instead. in 15 minutes president biden will update the assistance america will be sending to ukraine. will president biden address zelenskyy's speech from this morning? >> a powerful speech talking
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directly to the president in english. the president will address that in his speech. in 15 minutes we are likely to hear they will increase military assistance going into ukraine. the 21st day of this war, the invasion of russia into ukraine. the president is talking about increasing assistance. is expected to announce $800 million in funding, military equipment and humanitarian assistance bringing the total assistance to $1.2 billion in the past year. the president makes this address as president zelenskyy talked directly to him. listen to what he said. >> i'm addressing president biden. you are the leader of the nation. i wish you to be the leader of the world. being the leader of the world
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means to be the leader of peace. >> reporter: to be the leader of peace. zelenskyy is not asking for american troops to come into ukraine, he is asking for the equipment to hold off the russians in the air, close the airspace will give them the migs. many republicans are asking what took so long and why the administration dragged its pistes when it comes to dragging military aid to ukraine. this is what the white house press secretary said when asked what is being done now, could it get to the front lines in time. >> approved he has approved four emergency security assistance packages to provide ukraine the weapons they are using effectively to defend the country like anti-armor in your defense weapons. we are working to get ukraine equipment as quickly as possible and we continue to do that. >> reporter: we will know in a few minutes how far the us is willing to go to help the ukrainians.
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stuart: how far do we go to help? good question. i want to bring in a member of the ukrainian parliament. alexei, what do you want to hear from the president when he addresses us all, 15 minutes from now? >> i hope that i will hear that aircraft and air defense will be provided to ukraine, and we will be able to hold our side as firmly as our troops are holding the ground and that will be great. not only me but millions of people, not only in ukraine, waiting for president biden but this will not be stopped in ukraine, he will go further and others will burn. i don't want this. i am sure the lithuanian and latvian people don't want this.
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secondly, swift -- russia is not cut off from financial international system. only twee 7 russian -- only 15% of russian financial system. in reality this does not work. stuart: you are not likely to get planes. which i think president biden made that clear. what you will likely get is more javelins and drones, switchblade drones. you are likely to get more of them. will that let you hold out much longer? >> i can't understand why we can't receive aircraft. we are talking old soviet aircraft which they are in possession of and poland. i don't see the problem with that. we can down russian aircraft with them. we can down the with stingers
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which are provided by the united states government and we are thankful to this. i see no difference between providing us with stingers which in ukrainian hands can down russian aircraft, and aircraft which we can use to down russian fighters. i hope president biden will change his mind about aircraft and provided with them. stuart: how much longer can you hold out? >> we will hold out to the end. the question is another one. how many people will be killed? how many women and children will be killed by russians, from the sky? because they are in the sky. how many others will vladimir putin start, if he thinks the west is not strong enough, that is the question. stuart: sanctions if you apply more of them, utterly cripple
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russia. it's economy is just about frozen. maybe vladimir putin doesn't care but that has had a dramatic effect on russia. they paid an enormous price for what they've done in your country? >> it's not only against our country but against the security, what vladimir putin did and if he is not severely punished it will mean there are no borders, anyone can take by force anything and not only one dictator, for which we are watching tentatively as what will be the fate of vladimir putin and show them that vladimir putin will be destroyed after what he did. stuart: can you update me on the evacuation routes, which we are told have been used especially after mariupol. 4000 cars got out of mariupol
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in the last we today's. can you confirm that? >> yes. i can confirm that, 10,000 people left mariupol which is good information. but for your understanding mariupol -- before war -- it was blocked by russia a week ago. 350, 400,000 people, even without these people there were 250, 300,000 people suffering without food, without water, without electricity because russians blocked everything. stuart: thank you for being with us. wish you the best of luck. fox corporation has raised $8 million to support the red cross efforts in ukraine. you can help too,
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redcross.org/foxforward to donate. president biden will announce the $800 million additional aid package to ukraine and biden will address zelenskyy's speech directly. europe dealing with the fastest growing refugee crisis since world war ii, 5 million people could leave ukraine. ashley webster has our report from poland and the ukraine border after this. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.
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barrel. :working around the clock to keep up with the dramatic influx of ukrainian refugees. ashley webster is at the poland ukraine border. >> reporter: everything they can to stay afloat. many cities within poland especially close to the border say they are at the end of the ropes. as refugees come across the border they come down here met by a volunteer army offering everything from food, drink, clothing, but there are those we saw earlier, military people going back into ukraine to help them fight russia. others say we are trying to get residents of lviv to help them to come out. listen to what he had to say.
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>> we are sharing the refugees leaving lviv, each time we go over we patrol the roots to make sure there are no incidents at all. >> reporter: how has it been? >> peaceful. nada problem. ashley: 2 russian contacts. there are russian citizens on the other side of the border, when they come from ukraine into poland. if you are doing any photographs or video, they grab it out of your hand and smash it on the grounds. the russians are able to geo-locate off of these funds providing massive information
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used against the people here. i spoke to the same gentlemen, he said things pick up. >> a lot more difficult. we know things will get more difficult. very large target they would like to achieve. ashley: it could be a manufacturing -- being used to produce weapons. we will keep a close eye on that. the refugees still come through, the un put out a stat, every second one child in ukraine is displaced. close to 2 million and poland, millions more potentially doing the same thing. stuart: great stuff. thanks for being with us. i want to bring in connell mcshane who returned from poland. you see the refugee crisis firsthand. >> reporter: people see a
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reporter like ashley, you usually cover economic stories. this is turning into a huge economic story. i was looking at numbers this morning. there is a human face, we are bringing that to you, that boy, 18 years old heading back to fight for his country but poland, other countries, i looked at kraków which is a 3 hour dr. that is the largest city the population is 800,000. think about 900,000, that is a huge increase in population. there is a lot for europe to deal with. stuart: i will interrupt, we heard, we believe, can we confirm?
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the polish refugee situation. i've never seen anything like it. i am european. don't know how those people can go back because their country is flattened and occupied by the russians. >> any of them will tell you right away we are going to go back and we are going back as soon as possible and that is why you are seeing so many stay in poland. we heard about people migrating to other countries, people going to prague and vienna and other cities, germany, a huge number of people staying in poland, many have family and friends but people taking them into their homes and there is a -- if i could stick it out here a few months i could go back.
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all of these women left their husbands behind. hope now and not a realistic point of view. many are staying there in poland. stuart: humanitarian story for the ages. thank you. ukraine's president zelenskyy addressed lawmakers on capitol hill. congressman pat fallon will join me shortly and we are waiting for president biden's remarks on ukraine. we will be right back.
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stuart: we are waiting for president biden expected to announce additional us assistance to ukraine. congressman pat fallon joined me now. you attended president zelenskyy's virtual address. what was your reaction? >> it was succinct, inspiring and spot on. president zelenskyy emphasized the fact the urgent nature of this emergency, people's destiny is being determined
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right now and he thanked the united states for support but he needs much more and i hope we will provide it. stuart: is there a political split about the no fly zone? i suspect republicans generally would favor imposing the no fly zone and generally democrats don't want it because of the risk of world war iii. >> we can enforce a no-fly zone by providing ukrainians with more stinger missiles, surface to air missiles, and there is a legacy system and that will deny the airspace to the russians. we can still have the proxies struggle where we don't have american forces directly involved. stuart: you think we can get a they facto no-fly zone which would change the dynamic of the
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war. you think we can get that? >> i hope so. president zelenskyy is the symbol of freedom and democracy and that used to be the stars and stripes, i hope mr. biden will act boldly. stuart: you heard about the kamikaze drone you can hit a target 50 miles away and have this over the top of it. the new york times says that may be going to ukraine. >> we should provide as much asymmetrical war material as possible. more javelins, sniper rifles, light machine guns, rpgs and drone killers as well. stuart: you have no worries about world war iii? >> this is a box in the struggle. the president should be deterring vladimir putin. we should not be allowing vladimir putin to deter the
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president of the united states. stuart: what constitutes winning in ukraine. >> it is a stalemate. this is a war of attrition. the russians are acting like the soviets. they have limited amount of time. he has an economic crisis on his hands and the world has turned against him. if we could have the ukrainian state of them off, he will have a face-saving peace and not to leave. stuart: you sound optimistic. >> i hope so. we have president zelenskyy and 44 million ukrainians that are furious and risking their lives for their own freedom and we should be inspired and stop taking our blessings for granted. stuart: thanks very much for being with us. appreciate it. we are talking about congress a lot.
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it's worth getting into the broadcast. congress is giving itself the double digit raise. >> let's not just throw fallon under the bus. wages decreasing thanks to inflation. to the tune of $1.5 trillion. they out location would provide $70 million for salaries, one hundred $34 million more than was allocated in the last fiscal year. that is a 20 one% bump. did you get a 20 one% bump? i did not. stuart: i have no comment. stuart: you don't think they are worth it? handling these crises? that was sarcasm. >> we should give them a pat on the back. stuart: i want to follow up,
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whether we get a no-fly zone and how much help we give them i think the congressman put his finger on it. things are changing. there is more and more people in favor of giving them the military help that will mess up the russians. >> not putting the 18-year-old boy from nebraska into ukraine, putting a plane -- it gives the ukrainians who are striving to defend their homeland the tools to do so. they have the will, we need to give them the weapons. stuart: stay there. wishful thinking. which year was the first new york city st. patrick's day parade? 1762? 1871? 1910? your guests will be on the air after this.
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you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.
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care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. stuart: the question was, which year was the first new york city st. patrick's day parade. you want to guess, todd? >> i guessed 871 i was wrong. stuart: i guessed wrong. 1762. that was four years before the declaration of independence it was. started by homesick irish soldiers in the british army.
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waiting for president biden's announcement for additional assistance to ukraine. we'll bring it to you as soon as he starts speaking. quick programing note, sean duffy will host inflation in america 5:00 p.m. eastern. todd, you're all right. thank you for sitting out entire hour. >> thank you, my friend. stuart. you're all right, friend, no matter what. five, four, three, two, noon, neil. neil: i like when you said one time you did it with me. stuart: you're young enough to be my son. neil: i don't think so, my friend. it is flattering actually it could be my son or my grandson. thank you very much. it was very riveting. i know how the new york st. patrick's day all started. we're waiting for the president of the united states in this country, what jerome powell and his
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