control you stuart: good morning, here's what's happening ukrainian's are counterattacking pushing the russians back. right now the president is headed to frontline europe. they tell biden drill for the oil and gas in the mic market is quiet but were not used to that. first of all let's deal with putin's war, could be a military turning point. ukrainian's pushback into strategic areas. the pentagon says russia's combat forces have shrunk and

they are desperate. here you see soldiers licking food from a gas station. according to the wall street journal, president biden will put sanctions on 300 members of russians parliament. but he is not said whether he will sanction russia's oil exports going to europe. or up the ukrainians with more weaponry. he arrives in belgium to meet european leaders and then frontline poland on friday. a dramatic plea to produce more american net gas, axioms reports that j.p. morgan jamie dimon call for world war ii style marshall plan to go get the oil and gas on our territory. why the president won't do it is one of the great mysteries of this ministry should. to the markets dare i say relative calm so far. gotta take that back, the downtown 150 points. the nasdaq done 120 with 19 minutes before the market opens the s&p also down. the price of oil at $112 a

barrel. strength possibly because of oil sanctions on russia. bitcoin, where are we this morning, $42000. in the ethereum fairly close to the 3000-dollar mark. interest rates made the headlines yesterday with the yield on the ten year it went straight up a little change today were at 2.37%. on the show coming up for you the new iran nuclear deal coming soon. the new york times bret stephens is not buying it. meeker and weaker. why would biden allow them to get a nuke. it is wednesday march 23, 2022. "varney & company" is about to begin. ♪ president biden is on his way

to brussels right now. he will meet with the leaders of the european union and the leaders of nato. good morning. what do we know about the new sanctions. >> record native with our allies and their expected to hit 400 russians. the elite and 300 members at the lower house of parliament or the group that just criminalize the distribution of false news get you up to 15 years angelle. jen psaki will stay back for the european trip, she's been diagnosed with covid-19. stuart: at the moment we are just posting more sanctions. >> will be very difficult to get 27 european countries on board to ban russian gas especially after the comments from olah schultz. stuart: thank you. then joins us now. the russians are being pushed back into key towns. there are reports that they only have food for three days in running out of gas. why not give them what they need

for military win. i use that word deliberately. why not? >> i do think the biden administration is trying to do with a kid but they are limited by a number of restrictions that come from the europeans especially when it comes to russian energy. i do think what you're going to see is a challenge within the next couple of days to try to get the aiden resources distributed in a fashion that will help her is most needed. yeah 1.5 billion in aid coming from the united states and the european allies headed toward ukraine. distributing that a immediately is something that requires a lot of movement and resources and the like and they have a enormous problems when it comes to the flu against refugees. more than 3 million crossing the border, 10 million displaced overall within ukraine and i

think you only see that continue to be a problem for the european neighbors. biden administration is going to have a lot on his hands when it shows up at europe. after prove to the world that they will stand by ukraine in this moment and they could deliver the resources necessary in an effective manner. >> they have to get out and leave this. surely this is a crucial turning point the ukrainians beating them into key areas. the russians are bogged down and then the supply line, isn't this the time to supply the ukrainians with a lethal weaponry that will turn the tide? what weaponry but better and more than they've got now? >> this is turned in to a proxy the haptic knowledge. they cannot back away from at this point. stuart: that is argon as general king said. >> i think one of the things the

biden administration is reluctant to do obviously is to get further into this conflict in a situation that they have been hesitant to all along. but at this point is past the point where they can avoid them. they've already reviewed sanctions and committed to the aid pretty might as well commit to that with weaponry. the other thing that we have to keep in mind the russians are going to back down in his situation until it becomes clear that these sanctions with the lethal military aid is time to come to the negotiation table in a very real way and come to a cease-fire agreement. i thought it was very interesting that president zelenskyy is planning to not just address the group but also address the president to talk with president sheila china as well in an attempt to try to get them to pressure the russians in the proper direction and whether that results in anything positive remains to be seen but

clearly this is a go moment. stuart: call me a hawk i want to up gun and i want to win. i think it's possible. >> i will call you that with respect. >> thank you very much. we will see you soon. the ceo of j.p. morgan will be jamie dimon, a very powerful guy met with president biden at the white house and he is calling for a marshall plan for american energy production. would you explain the marshall plan. >> it was used post-world war ii and the u.s. provided to western europe to help them get out of new recession at the time. it is usually used to enact something strong to get to the next level. diamond wants the marshall plan to communicate clearly to oil and gas companies that they can pump more oil. investments are needed now for western energy security.

the energy industry complains that we could do it and they said mixed messages like price gouging. that is what diamond is saying he carries a lot of weight and if you look at what germany's chancellor just said this depends on russian oil. if you do this from day one it means a whole europe into a recession. we haven't we just need to be able to get to it and send it overseas. >> put the price of oil back on the screen. right after that report as he said in germany about getting off russian oil. e-zine that was his expression. $113 a barrel. he said this a little while ago but these comments have kept oil prices above 110. >> this seems to be the correlation between the commodity and the stock market. >> the price of oil is going to

dictate the market today. the dow is down 153 in the nasdaq down 115 points. dr barton with us this morning. my first question to you was going to be it seems like the market is settling down these days, what say you, it doesn't look like it is settling down so much. sorted out for me. >> i think you may be right we are getting a little bit of settling down to have a little bit of a drop today is expected we have the biggest week last week that we've had since november of 2020 in terms of markets moving up. the markets have a little bit of a quiet. for a couple of days or a slight pullback is expected. stuart: i'm looking at three or four tech stocks in particular. i look at apple, microsoft, and meta platforms. when will we return to their old highs. they are way down from their old highs. that's what i'm interested in

feedback up there. >> that might take a little bit more and any big global changes if the world were to slow down, that would send things rocketing again. we would get that very quickly. that in the short term what were going to see is in the summer more up and down but if you look at what's happening it's been going up and down a bit more, apple is only $20 below its old high. i think were not too far away from that but certainly months. >> should i buy more market stuff? >> on the 24th of february you asked me that exact question and it was in the low to 80s and now it's up over 300. yes we are doing great and they are going to be good for the long-term.

>> thank you for being here today. let's talk about going. give me the latest. >> they found one of the black boxes. the issue is it is so severely damaged they don't know what information they can actually get but they need to explain it was a chemistry crash the 737 - 800, the height of the 50 story building going down, 50 stories every second. it is still stunning that the plane disintegrating upon landing. no survivors have been found but there were 132 people on board. such a sad story. they do have one black box with see if they can get anything. stuart: hit the ground at 700 miles per hour. i am told from reports that i've seen. what made it plunge like that all of a sudden. what could that be. >> everybody wants to know. stuart: check the features, the

system today's market action on the downside across the board. look at this russian soldiers in ukraine resorting to looting at a gas station they pulled up in a vehicle and went into the store and looted the food. i call that desperation. more and a moment meanwhile back in russia the kremlin refuses to rollout the use of nuclear weapons. watch this. >> the nuclear option would we use it. >> domestic security existing for country when it can be used. >> to spoon want the world to be afraid or is he serious? i will ask the ranking member of the house foreign affairs committee michael mccaul after this.

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stuart: day 28, the ukrainian are on the offensive pushing back overnight. mike tobin is in the leave. is there a sense that the tide may be turning. >> it's a little early to say the tide is beginning to turn. the russian forces are not in full retreat. it is accurate to say the ukrainians have made some ground and gained real estate. they posted yesterday they had regained mockery, a town to the west of the capital city. and they made substantial ground at irpin that you for before and the battle has been so severe and irpin. this would give them a cluster

and access to resupply from the west of the country if indeed they had made these gains and they can hold these gains. to the south of the country, the mayor of nikola a says they can drive russian troops back from that town in the east, ukrainian forces are trying to drive russian troops back over their own border. to the far south of the country, the town of mary opal, the civilian continue to mount, russians continue to bomb the key port city of very strategic port city, the civilian casualties are so extensive they are impossible to toll. 7000 people escaped yesterday three president volodymyr zelenskyy said 100,000 are still trapped. zelenskyy addressed japanese parliament and asked them for pressure on russia through sanctions and he also praised them for being among the first to step up. >> it is important for each person without peace in ukraine nobody can look at the future.

>> another time shaping up to be humanitarian disaster this is the town of attorney heath. that is were american james hill was killed, that was dependent on aid. a single bridge over which the aid convoys traveled bringing in food, water and medicine has been blown up. stuart: thank you very much for joining us. michael mccaul is with us he is the ranking member of the house foreign affairs committee. congressman you want to send lethal aid to ukraine, i think that could help, what kind of weapons you want to send? >> these are lethal drones that we are getting, primarily from countries i cannot discuss and we also want to give 300 antiaircraft. russian many of the nato allies on the eastern plains count

those antiaircraft missiles. like our patriot missile. that is the point of this to meet with nato partners to send this to ukraine and we would backfill those with our patriot battering systems. that is what they need and when they come at a no-fly zone we can provide them with a no-fly zone without nato aircraft going across the skies of ukraine. that is precisely what will turn the tide. i'm amazed ukraine is willing to fight, this is not predictable at our site where the russians. i think giving more lethal aid they can turn the tide. stuart: when you say turn the tide it's possible ukrainians can win. given the right equipment in the fighting spirit and the success so far they could be prudent

military, right? >> i think the will of the ukraine freedom fighters is far stronger than the morale of the russian soldiers. the morale i cannot overstate enough how they have no morale on their side. that is a big determining factor to win this thing. 10% of the forces of russians have been killed that's more than we had an iraqi and afghanistan and 20 days and they had that in 20 years and they had then 20 days which really shows you how well ukrainians are fighting with to give them more of the weapons and we have to do it now. i hope the president can make that case to the nato allies to get the x300 primarily antiaircraft battery into ukraine as soon as possible so they can pie-in-the-sky as well. the kremmling claims of only use nuclear weapons if its existence is threatened, are you buying

that? >> i think they feel like their existence is threatened. you have to take this very seriously at face value. if it is the one thing that they have left, they have chemical weapons that they threatened to use and then they have the tactical nukes and they have many of these they have far more than we do, they built up the nuclear warfare capabilities far beyond us. they have a hypersonic missiles and i think it backs into a corner like the scorpion if you will, and may come out and staying and that is a nightmare scenario if nuclear weapons are used. what comes next. i think the president when he visits her nato allies they need to talk about redlines and that is the one obama used, the real redlines the weapons of mass distraction are used in ukraine and there will be a redline you cannot cross that. stuart: congressman mccaul, thank you for being with us on this important day.

we appreciate it. i will start with futures ahead red ink on the left-hand side of the screen as of right now down 150 on the dow. we will take you to the opening bell on wall street next. ♪ when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade aren't just made for traders -they're made by them. before discovering nexium 24hr to treat her frequent heartburn... claire could only imagine

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stuart: futures point to the southland at the opening bell. let's bring in shah gilani. both have at it. there is a war, 10% inflation, a sharp rise in interest rates coming, we think. why should i invest in any stocks. >> there is it was opportunities in the market, there is plenty of stocks that are on sale. it's a question of you will be an investor or a trader. i think is more applicable right now to put your trader hat on and look at the positions and determine whether or not you have to hold them for the long-term in other words stop and take profit if things pull back. the market is so volatile right now i don't think were going to get any extensive momentum movement. anything that we've seen so far as far as balances are being threatened by the continuing war in ukraine, the fact that the fed will continue to raise rates. the regime change in terms of

interest-rate trends from being low - 02 going a lot higher, that is a problem for market long-term treated to traders market not an investor's market. stuart: for ten years you have been on the show and you been telling us to buy the dip a big tech, it was a very successful idea. i want to know about apple, microsoft and meta platforms. when are they going to return if ever, can you give me a timeframe when will they return to their old highs? >> that's a great question i wish i had the answer i would be loading up if i knew. etiquettes would take a few months and it has to be a clearing in terms of the interest-rate movement. i think for those stocks that are very integrated dependent and terms of the valuation methodology investors look at. the measures are gonna want to see were interest-rate and double and how high they go. that might mean six month, nine months, that does not mean that

they're not deductible now, i like buying them on dips. i like putting stocks in there, they go up higher and you have a nice trend move in if they come back down take your profits, they come back to where you get down again. i like trading those stocks because in the end they're going to continue to go higher at some point in your knocking to get stopped. you can enjoy the ride. given volatility you have to have your trader hat on. maria: all the fun is gone out of it. for ten years they bought the dip and you did well. you cannot go wrong. open up. that is not true now the fun is out of it. what are you telling your client? >> exactly that. there telling them we have to be nimble there's opportunity the mining stocks, companies that have pricing power in inflationary environment, their stocks are going to do well, the market has been bouncing because it is now the alternative to inflation. how do you fight find inflation,

when the market trend higher, probably not but there is going to be suckers putting energy to exceptionally well and inflationary environment. that is where were targeting and going. stuart: we hear you, thank you very much will see you soon, 15 seconds to go before we open this on wednesday morning march 23. we will see red ink. that's what the futures are predicting. here we go three, two, 13930 eastern time. the trading has begun. right from the get-go were on the downside losing about 163 points as we speak that is almost a half a percentage point. the left-hand side of the screen the stocks to make up the dow dominated by red that means they're being sold. s&p 500 is on the downside to. about a half percentage point. the same losses the dow. the nasdaq is down .84, figure lost their pre-the s&p in the dow. big tech i am presuming there on

down if the nasdaq is down big tech is down microsoft, apple, alphabet, amazon and meta platforms all down. take a look at the big picture, susan is with us. what you make of this that investors are buying stocks instead of bonds as inflation. >> you just heard shah gilani echo the theory that is taking place, maybe stocks are better hedge of inflation. a counterintuitive because for the longest time everybody said by gold, by the u.s. dollar as well. but no, they are saying get into stocks because argument has been made in you heard shah gilani echo it the high inflationary environment companies that can raise their prices like chipotle, procter & gamble consumers will buy their stuff. those are the ones that can protect you against inflation. you see the at the supermarket. people have been raising their prices and company have been raising their prices in line of 40 or high inflation in one interesting analysis that proves

it is the inflationary spike of the 70s into the 80s. one research piece said inflation spikes 159%. but the s&p outperform the inflationary number and went up 169%. stocks can outperform inflationary pressures where as bonds you're seeing right now. stuart: you have to pick stocks that have pricing power. >> they have been rewarded in this market environment. look at the apples of the world and the png's, virtually every company had to raise their prices. stuart: gamestop is the big winner, it is up 5%. has ryan cohen been buying more stocks? >> the fun has gone out of investing. the mean stocks are fun. yeah brian cohen 900,000 shares,

that brings gamestop to 12%. he is tweeting that he put his money where his mouth is. single-handedly putting on the short squeeze this morning, 24% gamestop is still being shorted in 2022 from the gamestop means stock saga. in $400 million in losses. >> if ryan cohen buys the shares in the news gets out, although those people who are shorting the stock now have to buy it so there is a short squeeze. that is why is that nearly 70%. >> look at the reddit, amc is tightly correlated to how gamestop trades. their thinking is going into my gamestop, they're probably getting going and by the other mean stocks as well. >> understandable i got that. i want to have some fun i want to see elon musk dance. i believe he was dancing up a storm.

stuart: maybe not as much in shanghai but celebrity tori. that is the stuart varney shuffle. stuart: since when have you seen at a wedding? >> i haven't seen you dance or at a wedding. >> is not very exotic is it. the first european car factory and battery production facility that is a big win for tesla and elon musk even if it's almost a yearly the elon musk at this event at the rate that they had on with the challenge of battery production next year end batteries will be the limiting factor 2 - 3 years and you have to remember that tesla chip shortage supply chain shortage in they say battery tech proves the winners and losers throughout the electric tv.

stuart: let's look at the pot stocks. up mostly higher today some kind of deal going on. >> crystal labs is buying columbia for $2 billion in stock. and then cannabis one of the largest cannabis on the planet terra firma, $38 billion. the cash and stock incentives. if you like in this type of environment among some of these cannabis especially people are muscling up to get market share as more states legalize marijuana use. >> senator schumer wants to put legislation in the senate which will legalize weed at the national level or allow local communities to get into a national story. i think that is good for the pot stocks. >> that is good for the pot

stock but then size matters at that point. >> #you do not need to explain it to me. i know what they do roughly speaking. were down big today. >> we had earnings were pretty disappointing. the guidance for this quarter were talking about used clothing. i don't need to explain i forgot i did automatically. i don't need to explain women's fashion trends. it's in line with the other clothing retailers that we discussed. i don't want to get into them right now. but also throw in adobe which is down and is a technology company and they had a fantastic quarter, is record quarterly results. it was weaker than expected guidance for this year because possible $75 million hit for the war on ukraine in the baltic areas. stuart: you have a pair of jimmy choo shoes. >> i was in a shopping mall over the weekend and there was a store selling jimmy choo shoes

and they were going for $1100 a pair. >> was this retail? >> you don't buy retail? >> were these used issues? and they were $1100 per you talk about inflation and pricing power it was on the platform that was all there was. we don't have time either. i ready for this the dow winners. >> distracted by women choose j.p. morgan is up there and so was chevron. the s&p 500 winners headed by. >> at the is up there. >> energy company's are all over the place is money. >> alphabet is an interesting rally for look at the tech rallies today with meta platforms up to a half as well. stuart: 27 and 97 on alphabet as high as $3037. we are getting there. great stuff, thank you very much indeed.

new orleans with just traction. look at this. >> this is crazy i was this close to death. i was driving in a tornado. >> we will bring you an update on that. a new low for new york city a 9-year-old girl sucker punched at central park at 7-year-old little girl walking home from school with her mom hit by a bullet in broad daylight, when does this end. a contagious ba.2 covid variant on the rise. it arrived in america but we don't appear concerned. doctor frank after this. ♪ i may be close to retirement, but i'm as busy as ever.

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but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. we when the markets are in the red, the dow is down to 60 in the nasdaq down 130. show me my journal. they are asking the fda to

approve a low dose of the covid job for youngsters ages six months - 6 years, they say their job generates a strong immune response of kids in the age group. the masks are finally going to come off for children four and younger in new york city, thankfully, charles watson has a story. the first thing i want to know did the mayor lift the vaccine mandate for private companies for the vaccine mandate, did he do that, did he let that. >> good morning, the answer is no mask mandate for new york city businesses will stay in place for now new york city mayor andrew adam says it's taken a layered approach in terms of pulling back me back mask mandate pre-businesses will have to wait for now. take a listen. >> when this is all said and done to realize this is a thoughtful administration. baseball, basketball, businesses, all of those things they have to wait until the layer comes in adams is the main

focus is pulling back mask mandate for children ages two - four for schools and daycare's, they will become voluntary starting april 4. the mayor emphasized and could change the covid numbers moving in opposite direction. nationwide average daily cases that dip to the was level since last july. omicron variant ba.2 driving up cases in china and the united kingdom fear that the new surge at home is starting to percolate with the u.s. daily average cases the people of 25000. federal health officials say they currently have what they need to manage a surge should there be one but there urging congress to keep a pipeline of supplies flowing. >> her focus should be in preparation on panic. if we give people the vaccines and boosters in treatment then we can get through waves that may come and go. >> ba.2 makes up a third of all covid cases of the united states

right now for the public health officials are optimistic that the u.s. can avoid another surge. back to you. stuart: thank you much craig covid cases are on the rise across europe and asia. south korea is up to 10 million cases. we are learning that jen psaki and hillary clinton have tested positive. doctor frank joins us this morning. the new strain ba.2 it is called it doesn't seem particular deadly. will new restrictions be needed. >> i certainly hope not, good morning and nice to be back with you again. i don't think richardsons will be necessary, as you said this does seem to be a milder form of covid. interestingly it's more contagious than the highly contagious ba.1 which just saw through the country. i don't think restrictions will come up. i think the power that we try to use this as an excuse to impose new restrictions but i don't get were to be necessary. stuart: i don't see people

running around scared to death of ba.2 in covering up and being very concerned, i don't see that today. in fact i see new york city yesterday and i sunny day, places like it was three years ago. obviously there is a concern. do you? two i said that with my own patients too, i see people come in they padded with the restrictions of mask rain and they come in and everyone is supposed to bring mask in the first thing they ask is it really necessary that we were this. people really had it across the country that i'm seeing. this gets to us and people just had it. stuart: are some people anxious that masks are coming off? his anxiety level because of that? >> i think there are some. i think the level of hysteria the last two years going through this is a country has put us through. i think people are so program if they don't have the covering on their face in public, they feel like they are vulnerable.

i think it could take a while for a lot of people to feel comfortable going into the public without covering their faces. our local supermarket i am in new york with highly vaccinated and highly careful population. eight out of ten people are still wearing their masks i happily walking without mind. stuart: you should go to florida, a whole new world. it really is. doctor thank you for joining us. we will see you again soon. white house official say we don't have enough money to buy a fourth vaccine for every american. why not. >> it's the rise in the ba.2 variants, they are worried they don't want to get behind. the reason is they ran out of money so they cannot apply every american with a second booster. here are the numbers 97 million have received a booster,

270 million fully vaccinated meaning one should doses on the backseat. her pushing congress to pass by 15 billion-dollar funding package and the resistance from republicans is accountability. what about all the billions and past money, what is left over, how did you spend it in questioning the need or the desire to get a second booster shot when many people who have one booster also got covid. stuart: who knows and five months you got it twice. >> staff at one hospital in a maternity center is not gender inclusive for brooding people. seattle jason rance brings us up to speed on that one. gun sales soaring in eastern europe. ashley webster and poland with the story next.

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stuart: the war in ukraine has gun sales spiking and neighboring poland. that's where ashley webster is. how easy to buy a gun and pulling? >> simply not very easy at all. you have to take a psychological test, physical test and an exam with the local police station. then a skills test at the local shooting range and you have to be 21 no criminal record and live in poland. on top of that it's gonna take you a while to get your license. despite all the black gun sales in many cases have doubled. we caught up with the local gun sale gun store owner who said is no big surprise why people are stocking up on weapons. take a listen. >> they look for the transportation and they feel better when they get something in the house. >> we heard reports as is the case with the united states ammunition running low.

the most popular handgun would be a 9-millimeter glock. perhaps the most weapon and demand is the ar-15 assault style rifle and this and this is how much is going to cost you, take a listen. >> how much does that cost? >> it cost about $1000. >> $1000 and it takes a while to get the permit, correct? >> yes. to get the license it takes 3 - 6 months and cost about $500. >> that is not cheap you should combine those 21500 u.s. dollars to get the gun, the air 15 and the license. the average salary is $700 a month. it is not cheap by the way the number of guns there is one gun

civilian owned gun per 100 people. the united states is 125.5 guns per 100 people far enough more guns in the u.s. as this goes on in the tensioning ukraine the people continuing to stock up on their weapons. stuart: we are on democracy. thank you so much. see you again later. here in new york city crime surge continues and no signs of slowing down. a seven year old girl grazed by a bullet in broad daylight days after another girl was sucker punched at random in new york city. take us through all of this. >> the leader shooting in brooklyn, new york the seven year old girl walking with her mother when she was caught in the crossfire which is presumed to begin violence that she suffered a bullet grazed wound. seven years old there were seven shootings on monday alone 29 over the weekend. the only hope for crime-ridden new york city is mayor adams. he brought back the anti-crime policing unit to help get guns

off the streets and bill de blasio the former mayor has dismantled that. he is trying to do things and he said in a different way with respect for the community we will see greater police presence for a 7-year-old girl hit. stuart: an uphill struggle in new york. good stuff. look at the market we've been in business for 25 minutes and we are down 250 on the dow, down 140 on the nasdaq. still ahead florida senator rick scott, tennessee senator bill hagerty, governor mike huckabee and jonathan morris. the 10:00 o'clock hour jammed pack and next. ♪

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stuart: 10:00 eastern. it is march 23rd. the most important financial story is the sharp rise in the price in oil. we are $113 a barrel. there are questions whether the germans would sanction russian oil. that would take oil off the markets and that means the price goes up. one hundred $13 a barrel as we speak. the treasury yield is it 2.

34% and the stock markets are down sharply. the price of oil and likely energy price inflation is moving the market down, 277 on the dow, 160 on the nasdaq. new-home sales. lauren: seasonally adjusted 72,000, surprise decline. back 420, 400,000, $600, rates are going up. prices come down more. the house is on the market for 10 days. stuart: the market is still strong. lauren: maybe it is changing.

stuart: now this. i must admit to being exasperated by the president's response to two issues. don't understand why he won't drill for our own oil and i don't understand why he won't that iranians get a nuke. america's top banker jamie dimon told the president face-to-face we need a marshall plan to produce more of our own energy. you wants leadership from the federal government, not roadblocks. the american marshall plan rebuild europe after world war ii. jamie dimon wants to rebuild energy production. why won't the president do it? why is the president so determined to do a nuke deal? we are told the deal is imminent. why are we doing this? a deal let's russia build a nuclear power plant in iran? gives the russians much of iran's enriched uranium. gives the irradiance tens of

billions of dollars to finance terrorism and poses a threat to his relapse existence, not to mention thoroughly annoying our allies in saudi arabia. the new york times columnist brett stevens says a new iran deal, makes us weaker. why won't be drilled? why give the mullahs a nuke? i don't get it. second hour of varney just getting started. here is a man who knows the answers. welcome back to the program. question one. explain it to me. why does the president refused to increase america's energy production? >> because he spent too much time in the legislature where it is all about the liberation, the desirability of an

ideological goal. he is new to be an executive. politics is about ideology. governing is about pragmatism. he doesn't understand that. pragmatism says do what you can do, get done what is best for everyone, not just what is best for the ideological people you are more related to. your governing everybody. here's the deal. jamie dimon is right, we ought to be boosting our production, not only supply our own needs which we have 400 years worth under our current technology. then become an exporter. lets us be the ones making the money, not russians. stuart: why does president biden want to give iran a nuke? >> real head scratcher. if anybody wonders what the

russians will do with an opportunity look at what is going on in ukraine. if that's not a wake-up call to why we don't want to let the russians expand their technology, they are exploration, their riches, look there and realize this is not just the threat. a genuine exit essential for it. it is a threat to the balance of the middle east which is getting better under the abraham accords, we have is real creating peace agreements, tourism arrangements, and former enemies. it is a wonderful opportunity to see a reset of the middle east and into the -- biden says i will take a stick of dynamite and stick it up a camel's rear end and blue the whole thing up. makes no sense at all. stuart: hillary clinton asked for suggestions as she recovers from covid.

you have 20 seconds for what she should watch. >> i think she should watch all three godfather episodes because the family of the clintons operates like the corleone hes for the past 40 years. stuart: we believe it right there. thanks for being on the show. billionaire investor carl icahn says we could be headed toward a recession. and economist, i don't want and economist's answer but something clean-cut, don't want you to hendry on the one hand it might do this on the one hand it might do that. i want to clean-cut answer, are we going to get a recession this year? >> clean-cut answer come in any given year the probability is 19% of getting into a recession. given everything we know today the probability is over 40%. for me to give you the super

clear-cut answer i would love the probability to be 100% and we are not there yet. you look at the research i've done in my latest shows, the real funds rate is-7.6%. going all the way from the times you and i were little kids, we've never seen a period the real fund rate was-7.7%. the research has shown 12 months before is 2.5% plus, even 6 months before, it is plus 2.6%. we are at-6.7%. there is room for jay powell to be more aggressive. that will increase the probability but we are not at a situation where is one hundred%. there is a higher likelihood of recession today than there was a year ago.

stuart: that was a very good answer. that was a very good answer. i admire that, you navigated difficult -- i would like to pursue that but next time we will. and economist who gives you are direct answer. before we move on, i want to tell you the news background for wall street is dominated by energy price inflation. the price of oil going up $114 a barrel and a sharp rise in natural gas prices, that is spooked wall street. that is a problem for wall street. back to the movers. lauren: microsoft is down. here is the news out of doctor

-- oh cta. the group is called -- they hit microsoft, parts of the source code. both instances are limited but we are worried about cyber warfare coming from russia. these companies hit. stuart: beyond meet is in the headlines. lauren: they will bring meets, jerky to retailers nationwide. stuart: winnebago. lauren: no comment on that. stuart: i'm not going to retire and drive america in a winnebago. lauren: the price is up. they reported earnings, big demand, high prices, stock is at lowest levels, and 6 months.

stuart: the unemployment rate is double the national average. why is that? lauren: workers don't want to come back to the office, crime is one of those. it is a key reason for unemployment rate is 7.6% versus 3.8%. the offices aren't filled. the dry cleaners get less business. that's a ripple effect. this is a scary stat, 16% of major new york city companies say their attendance as above 50%. stuart: it would make a difference if the mayor of the city removed the vaccination mandate on big companies so he could still work. lauren: it is going to be hard to change the way people work and they are thinking why should i pay the high cost to get into the city, take the scary subway to go to work, hire more childcare.

stuart: the travel industry urging dropping mask mandates for planes. are they asking a particular date to drop the masks? lauren: it expires april 18th and they want that to happen. lift the mass mandate requirement and the testing requirement for fully vaccinated travelers, are they requiring a negative test at the southern border? i want to bring this news from alaska airlines, trying to ease the staffing shortages and offering flight attendants double paying to pick up more shifts. stuart: double anchoring duties, president zelenskyy says he is open to letting the vatican help with peace talks. jonathan morris, our resident theologian will deal with that in our next our.

the pentagon says moscow is frustrated by the lack of military progress. >> command and control is weakened and all the while ukrainians are getting stronger and more effective. stuart: is the tide of battle ukraine turning? i will put that question to a ukrainian member of parliament. fears grow of chemical warfare. jeff paul has that report from ukraine next.

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

responding to energy price inflation. the price of oil is up, the dow is down 186. home depot and salesforce, dow stocks, down sharply. they are shaving 120 points, the dow would only be down 70 or 80 points. there is a real threat that flannery putin will use chemical weapons. jeff paul in lviv, ukraine. what do we know about this? >> it has been a month, they are struggling to take over key cities like kiev. for big portions of western ukraine, they have become safe havens for people trying to escape the ongoing invasion of russian aggression. the city of mariupol, 100,000 people trapped with little resources, and the ukrainian

government, rescue workers arrived, being shelled and not being allowed to answer, i senior us defense official says 7 russian ships are in the sea of azov, mariupol is described as a shattered place and there is nothing left. >> translator: people in mariupol don't have a chance to be heard are indeed in need of help. people don't have water, they drink water that is not even the law you would use for technical purposes. >> reporter: in key of black smoke can be seen rising, russian forces surround the city and hope to take the capital city but their efforts have been cut off. ukrainian forces not only defending key regions but in some cases taking offense of

posture, but the devastation of hard-hit spots in kyiv are so widespread it is difficult for rescue crews to respond to the endless number of calls. >> reporter: >> translator: the moment we arrived we had five fires and we hear the fighting continue. talking about the number of requests to follow it is the largest since the start of the war. >> reporter: with russian forces somewhat stalled and attention turned to whether or not vladimir putin will call on outside forces to come in and help with his invasion of ukraine, people in western ukraine look to the north and watching closely to see if belarus gets involved. stuart: thanks very much, more from you later on. pentagon press secretary john kirby says russia is frustrated at the lack of military progress. >> the kremlin, russian

military leaders, they are frustrated, they did not expect the ukrainians to fight back as hard. they thought it would be easier to walk in and take the capital city. there command and control on the battlefield is clearly weakened and all the while ukrainians are getting stronger and more effective. stuart: ukraine parliament member joins me now. your forces pushed back the russians in two he areas. would you say the tide is beginning to turn? >> thank you for having me. we are optimistic right now in terms of ground battles. we are fighting brave and our army is doing a great job. however, are for everybody to take it seriously, shelling of the cities have been intensified. kiev, it was the most intensive for the last four days since the beginning of the war. you hear at least three times

more air raid sirens and every single day there are two or three buildings destroyed. today we were at a house that was completely destroyed by a direct hit of rockets, two days ago it was a shopping center. they said they found nazis or something. there were skyscrapers that were destroyed and this happens on and on. the russians changed tactics. instead of trying to take cities by the ground they are doing the same thing they didn't mariupol. close with rockets and bombarding. we have high hopes in brussels and this is why we hope the idea of not giving them a no-fly zone -- stuart: let me tell you what will happen. president biden will suggest more sanctions on russia.

at this point i do not know if he will do a no-fly zone or more lethal weapons for ukraine but that is what you want. you want weaponry that will turn the tide of the war. i don't know if you will get it but that is what you want. >> we need fighter jets or something similar to that. this is what we need to protect our cities. otherwise we can fight bravely but there is nothing you can do with missiles that are coming. stuart: thank you for joining us, in difficult circumstances. we appreciate it. the chief spokesman for putin refuses to rule out the use of nuclear weapons.

lauren: a bombshell interview under what conditions will putin use nuclear weapons? this is the answer, quote, if it is nexus dental threat for our country. he also said russia did not target civilians and conceded that russia had not achieved its military goals and that is why there is fear of escalation to nuclear or chemical warfare but there are reports that putin has used a white phosphorus incendiary weapon the burns the skin. you can debate whether there is chemical warfare or not but allegedly he has already used these weapons. stuart: president zelenskyy is considering dropping his request to join nato but what does he want in exchange from the russians? lauren: a cease-fire and a security guarantee that comes without nato inclusion, he wants a face-to-face with viral putin as well. will he settle for that region? or is he going to insist he

tries to get the whole of ukraine as it looks now? stuart: he has a hard job occupying the whole of ukraine. florida senator rick scott wants to revitalize the energy industry. i will ask him does that include nuclear? president biden on his way to rub brussels for an emergency nato summit, he is expected to announce another round of sanctions. edward lawrence has the full story next.

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but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life. stuart: the main story is energy price inflation, the price of oil at $114, natural gas, $5, the market doesn't like it. down to hundred on the dow. general mills in the news. they are up 4.5%. we to inflation is good for them. they are topping the s&p 500. good demand for their products. they will not rebuild inventory until june, because of the supply chain and they are working to find new suppliers. they are up 4.5%.

stuart: moderna is the story. lauren: there vaccine for children under the age of 6, thirty four. sent, between 6 months old and to, even worse between two and 6 your macs, 37.5%. stuart: how many parents will be vaccinated with a 46%? lauren: i have friends or so vaccine, let's get on with this and i have others who say absolutely not. stuart: intense division. stuart: tesla up again. lauren: they are back -- elon musk says it is not funny. the developers of this cyber truck will be finished this year because their competitors are hummer pickups, already on sale.

it just opened, 500,000 vehicles a year. stuart: that is the tesla truck that has a range of 500 miles. lauren: it is different. stuart: tesla's front end looks strange. thank you very much. president biden on his way to europe to meet with leaders from the european union at nato. what is this i hear about maybe sanctioning russian oil? >> reporter: what happened is european countries are saying we need to get off of russian oil and natural gas, that could allow to sanction the russian oil and natural gas for european countries. the president comes with a message more sanctions on 300 russian lawmakers, either european union will have a message for president biden and that is export oil and natural

gas and get off of russian oil. 80% of finland's oil imports come from russia. poland imported 58% of oil from russia, german imports 30% of its root oil from russia with greece behind that. belgium, 23% of oil imports come from russia. you see the problem. the impact on gas prices as well as home heating oil prices. senator james langford said this all in climate approaches helped our enemies against the west. >> the biden administration predicts we will have increased globally for oil but the biden administration has determined we are not going to produce that here. the biden administration is focused on making it more expensive is due export of natural gas, harder to do natural gas pipelines, harder to do drilling or impossible to do drilling on federal lands.

>> reporter: the largest exporter of natural gas in the us, they say given more liquid natural gas exported will be tough in the near term and they say that is because of the long lead times to get the natural gas infrastructure built with current administration regulations and the bottom line is the european union may not get their wish of oil and natural gas exports unless president biden reverses course on the energy policies the us has and expands energy independence. we will see what happens when face-to-face with the leaders. stuart: why can't we get our own energy? thanks. rick scott, republican from the state of florida. jamie dimon, wants the marshall plan to revitalize the mystic energy industry.

you want the same thing. my question is does your plan include nuclear? >> absolutely, it should be all of the above. how we do fossil fuels and renewables. we ought to be doing every thing. the goal is to be energy independent. whatever they can do safely we ought to be doing and that way we are energy independent not relying on russia or anyone else and we can help our allies. who doesn't want to be independent? what individual doesn't want to be independent? stuart: explain to me why doesn't the president do it? it would be a relatively simple thing to declare we are going to produce more local energy. why doesn't he do it? >> he is controlled by the radical left. look at the stuff, all these policies, not having a secure border doesn't make sense, shutting down pipelines doesn't make sense, not dealing with the supply chain or worry about inflation, he sits there and it

is like he wanted to have a nice title to do nothing and he is controlled by the radical left. stuart: where is the fix for the supply chain crisis or problem or whatever you want to call it? where is the fix that was promised? >> you can't get him to testify because they don't have a plan. if you are a business guy when there's a problem you show up and stay until that is fixed. if you are pete buddha judge --buttigeig you look at every statue, what should i do, sit down with everybody and say solve this but all they do is go on cnn and do interviews, they don't to do anything. stuart: i will change the subject. miami beach put a curfew in place, shootings and more

violence during spring break. where do you stand on sharp edged measures like a curfew in miami? >> you've got to keep people safe. we have great law enforcement. when i left office we were at a 47 year low our crime rate and that's why people want to build their businesses or go on vacation. you got to figure out how to keep people safe. we when are you a law & order senator? >> everything -- thank god for our sheriffs and police chiefs because we all want somebody to show up if somebody wants to do something evil. stuart: you can't say no. >> don't defund the police like democrats want to do. stuart: one intriguing thing from florida, governor desantis requires a high school financial literary class in order to graduate. as someone who does a financial program i think that is a terrific idea.

>> i think what i told everybody is you should take two years of bookkeeping in high school because you need to understand how businesses work. whether you build your own business or work for business you ought to know how it works, where you fit in. i think it is important to take bookkeeping, i took two years of bookkeeping that helped me in my business career, took a lot of accounting in college but bookkeeping was the premise of teaching how business works. stuart: what exactly is bookkeeping? i am not being silly. >> basic accounting, knowing how balance sheet works and cash statements work. the basis of how business works. basic accounting. stuart: you are way ahead of me when i graduated high school, i didn't know what a mortgage was and never had a checkbook. you are ahead of me but made more money. thank you for being here. we appreciate it.

a county supervisor in wisconsin wants to remove the pledge of allegiance at meetings, she called it divisive. lauren: to remove the word prayer from the county board meeting. she says, quote, it doesn't feel appropriate for us in a pluralistic society to recite the pledge of allegiance because we want to be inclusive and representative and she drew parallels to taking a knee during the national anthem. does she take a knee during the pledge of allegiance, there is a board meeting today to consider her proposal. stuart: the pledge of allegiance unites us all, we are americans. thank you. a violent tornado in new orleans left a path of destruction behind. we have the latest on the recovery effort. rising mortgage rates, low inventory of housing available making it nearly impossible for first-time homebuyers to snag their dream home. they have that report next.

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stuart: you got red ink for the dow, down 47 points. oil is the story of the morning. and a surprise drawdown, in oil reserves, and -- >> information. the bottom line is a drawdown of oil. price goes up and we have energy price inflation. lauren: we all know the reason why. b1 dc has filed a lawsuit. wise the district of columbia suing delivery, food delivery? lauren: deceptive trade practices, false advertising, adding restaurants to their

platform without the restaurants consent which means the data they were using is out of date. this is bad for consumers. it is a digital dark pattern. they say we always comply with dc law and their world practices. stuart: one of the restaurants i know don't like the piece of the action grub hub takes out of them. lauren: i don't use food delivery services. i go to that restaurant. stuart: the median price of a new home, $406, adding to the many challenges, first-time homebuyers, outside new york, is that as a starter home how much do they want for it?

>> $599,000, 1500 ft. in westchester counties. adding insult to injury, going up a full percentage point in a single year and that is the highest level in three years. so many struggling with this. one of them, south costello who is looking for a house with his wife or year and 1/2, hasn't been able to close the deal, makes three opposite is frustrated. >> in westchester, making a 6-figure income and move into my parents basement to save more money to afford a home. >> reporter: he is not alone. 50% say affordability is the biggest issue. some say availability, just finding the home. inventories are tight, still down 15.5%.

according to a study from zillah, price increases are going faster than people make in an entire year. in silicon valley average prices went up $229,000 year over year, 136,000 more than people made, people are struggling, interest rates are a big deal. stuart: did you say the house behind you is $590,000 and only 1500 ft. ? is that it? lauren: 599,000 square feet and could go for six figures higher than that. stuart: the price -- how many square feet? how many square feet? >> reporter: 1500.

stuart: you shocked me all over again. see you again soon. a tornado ripped through new orleans. >> reporter: one person dead, thousands without power, elementary school closed, and east of new orleans, described like this? >> this close to debt, driving in a tornado. thank the lord none of us -- lauren: those tornadoes ripping through the southeast, one person, not that man who experienced it, died. stuart: terrible story. a school board in washington state will consider a child's race when determining disciplinary action. jason rentz will deal with that in our next our.

ukraine suffered billions in damaged infrastructure. we will speak to the ukrainian development minister who is traveling around the country and assessing the damage. how is he going to get vladimir putin to pay for that? we will be right back. leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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stuart: hundreds of thousands have joined the cyber army, doing this in between there day jobs. lauren: we are in a war. 311,000 trained ukrainian coders known to be good constantly carrying out cyber attacks on russian banks are russian companies, russian government websites. the digital front line. they've been at it nearly a month. tomorrow marks one month of the war. we when they are attacking russia. 300,000 of them. thank you. i want to bring in ukraine's minister of communities and territories traveling around ukraine assessing the damage.

welcome to the program. tell us what damage, how extensive is the damage you've seen so far. >> very good morning to you. i would like to see a full-scale aggression. a terrible war we are witnessing in ukraine. we find it hard to believe in the heart of europe we are facing this terrible situation. 10 million ukrainian people have left their homes, three have left the country and the rest are moving to the western part of ukraine. the damage is not severe. what i can tell you when numbers, we are double checking and calculating the parameters. we can take the example of the

second largest city of ukraine, kharkiv, and report that 600 residential buildings have been destroyed. this means the situation is extremely terrible. the city of mariupol is being bombed every 15 minutes even during our conversation is being bombed. if we calculate the damage in numbers it will be calculated in tens of billions of dollars, the critical infrastructure damage -- stuart: tens of billions of dollars. vladimir putin wrecked your country. how do you make him pay? >> at this moment ukraine is

fighting to the end and ukraine will stand united to protect the motherland. i would like to admit it is critical for our country to close the sky. there is a great and severe aggression coming from the sky. international companies in the russian federation, feeding the russian manufacturer, bullets and bombs being sheltered to our country and they should be stopped. stuart: you want a stop to all western companies doing business in russia and advanced lethal weapons from america and nato to guard your country. you think you will get those weapons? >> we are addressing this message to western countries and the united states.

we are in a desperate need for this kind of equipment and desperate need for protection in the sky. stuart: we understand that and president biden is on his way to europe where you can ask him for those things which we appreciate it when putting your point of view to us in america. check the price of oil. we are up $115 a barrel, session high, looking at energy price inflation. that is why i think the dow is down 250 points, down 150. now it is down 167 points. tennessee senator, jonathan morris and jason rentz. we are month into putin's warranties not winning,

zelenskyy's forces are successfully pushing back. it appears to me at least the tide may be turning. it is next.

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>> the biden administration has a lot on attends and they have to 12 the world they stand by ukraine in this moment. >> we can provide a no-fly zone without nato aircraft going across the skies of ukraine and that will turn the tide and give more lethal laid. they can turn the tide. >> a little bit of a drop today is expected. we had the biggest week last week we've had since november 2020 in terms of markets, the pullback is expected. >> the fed funds rate is-7.6%. there is room for jay powell, the fed chair to be more aggressive. there is a higher likelihood of session today than a year ago. stuart: 11:00 eastern time, wednesday, march 23rd. red ink for the dow industrials

down 250, nasdaq coming 50 points. the price of oil going straight up again. we had oil at the session high for the day, $115 a barrel. where are we? okay. let's go to the yield on the 10 year treasury. oil, $115 a barrel, the yield on the 10 year treasury 2.35%. now this. nearly a month into vladimir putin's war, he is not winning. zelenskyy's forces are successfully pushing back. it appears the military tide may be turning, two strategic towns have been retaken by the ukrainians and the pentagon says russia's combat forces, terrorizing civilians and whole cities but don't occupy much ground and are not advancing.

they look desperate. you see russian soldiers driving up to a gas station including food which spells opportunity. now is the time to pile on the military pressure. sanctions will not force a putin withdrawal but lethal military support could push him out. i'm not a military guy but the military people who appear on this program tell us putin's supply convoys could be decimated with drones, planes and artillery knocked out by top of the line missiles. russian naval forces destroying mariupol could be taken out with anti-ship missiles which we have in abundance. ukraine is counterattacking, now is the time to make sure they keep going with the right help, they could win this thing. third hour of varney starts now.

sean duffy joins us this wednesday morning. seems to be the tide is turning and with the right help i think the ukrainians could win this thing. am i going too far? >> i don't think you are. when we give a people who want to fight their liberty and self-determination amazing things happen. missiles, drones, guns, helmets, they can prevail and they will be able to repel vladimir putin. i also think it's important to have a balance. we don't want the us to be engaged with russia. providing armaments to ukraine without engaging is critical. that's why you want smart people to navigate that for you and not cross those lines but we are sending arms and you see the result of that, they are deploying russians. this is the war machine, the 10

foot soldiers, this was a paper tiger, they -- their advance on ukraine has been embarrassing for vladimir putin. their equipment is not working, forces don't want to fight. he has been embarrassed on the world stage by how poorly his military performed. stuart: let's see, in these countries, i just hope you will put some muscle out there because i do think they can win this thing. please stay there for a second. hold on for me. let's get to the markets down 230 on the dow industrials and the s&p is down 17, nasdaq down 30, the dow is selling off this morning. the man of the hour, eddie, are you selling in do the rally we've seen recently? >> you know where my stance has

been getting ready for the second quarter and it gives investors a second chance. you don't always get a second chance. item investors of two weeks ago you were doing that and you want to lower risk you may not get a better opportunity, we had an impressive bear market rally that will get more choppy to the downside over the coming months. stuart: long time you've been saying this calendar year which begins in april, it's a doozy, a rotten month for investors. is that still your prediction? >> when you look at the fundamentals it is the worst i have seen in my 24 year career. that is realistic. look at gdp corrections, dropping 50 to 70% in a 6-month time. don't know if we've dropped

that much in that short a period of time. stuart: the gdp of the united states is $20 trillion roughly. you are not telling me it will go down to $10 trillion, are you? >> our fourth-quarter print on gdp. when we get to the second quarter we will be under three. stuart: but growth rate will be cut in half. these are the fundamentals. how big a decline are we going to see when the second quarter begins? >> when we look at the next few months we not only test what we saw, the we will be below those lows, there's a tug-of-war between the bond market and stock market and depending on what the bond market is that is why we've been extremely active and earnings in the next

quarter but guidance is weak and when you compare the second quarter of last year their earnings growth is decimated, you have gdp to sell operating handbook fed made one of the biggest policy errors in history by not raising rates, more hawkish than ever at the worst time in a war going on making oil prices go through the roof that will crush consumers. it's a tough environment. this is not the time to be a hero. stuart: you are a brave guy. you come on television and say what you think and give precise instructions and so far you've been a right, getting a little nervous when they you will be wrong? >> you are only as good as your last call. when i am wrong i will tell you i was wrong and more importantly make changes to our client portfolios to pivot.

i won't just stay wrong. you are not always going to be right. i have to have a good batting average. stuart: your clients are happy at this moment. >> yes indeed. that is why i have this smile on. stuart: come back next week. always good, thanks very much, see you soon. florida's governor desantis has signed a bill that requires all students to take her financial literary course to graduate high school. i was telling senator scott, i didn't know what a checkbook was or what a mortgage was. a pretty good idea to have youngsters financially educated. you've got 9 children, do you think it is a good idea too?

>> he continues to, and diversity and inclusion. >> this is how you balance a checkbook. this is how you got a mortgage. this is the impact of a mortgage. to talk financial literacy makes sense for our kids and if they understand how to be self-sufficient because they can manage their finances they are not relying on the government, we want people to be self-reliant and go on with their lives and that is what ron desantis is making sure kids understand in florida. stuart: ron desantis i wouldn't say always goes on the attack but is always leading with challenging ideas, always out front. think he is a presidential candidate? >> of donald trump doesn't run, ron desantis is and he would be the top of the ticket. he's a smart guy but he has one thing in congress, he's been

remarkable. i couldn't be prouder of what he is doing and you had eddie on earlier, second chance of getting out of this market, a second chance of getting into crypto. stuart: i knew it was coming good. i knew it was coming. we will agree to differ may be. thanks for being here, see you soon. movers. i start with a commodity and that is oil. lauren: this is your leadership on the market. occidental, all of them with a 52-week high but there is in the reason oil is up today. russian and kazakhstan oil experts, the pipeline from black sea, they might fall because of storm damage by a million barrels a day so something we couldn't predict, a storm impacting limited supply. stuart: not so much sanctioning russian oil as a supply problem in kazakhstan.

>> everything put together. stuart: you are at $115 a barrel. lauren: not many people are backing off of those $200 oil calls. stuart: gas prices will start going up again. game stock up 10%. lauren: %. lauren: on top of a 30% gain yesterday. the chair, snapped up one hundred thousand shares bring his stake to 1200%. game stop meme stock but another winner today. stuart: show me toyota. aurora -- is there a connection? lauren: it is an automated driver system intelligence company. imagine smoking weed and driving, driverless driving, you could smoke in a car if not driving, not recommended. these two are teaming up to have an autonomous right hailing fleet, eventually they will take you to the airport which as far as i know, all

these companies are not doing this because you see billions being invested in self driving cars but yet to reach scale. stuart: i don't know what companies do. i see the name and don't know what they do. they are a cannabis company. no they are not in this instance. thanks. pope francis spoke with the president of ukraine. zelenskyy would be open. he says zelenskyy says he says he would be open to mediation from the vatican. we will spoke to theologian jonathan morris about that. a major bank, not to finance any new gas or oil project. they are trying to curb climate change. i want to know who the bank is. gas prices hit an average $6 in los angeles. finding solutions for those high prices democrats are doubling down on going green. hillary vaughan has that story from capitol hill next.

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stuart: biden's energy crisis. democrats are doubling down on their push to go green. hillary vaughan on capitol hill. what are they saying? >> reporter: they are trying to capitalize on the crisis of high gas prices that americans see at the pump to their political advantage heading into the midterms. democratic polling group advising candidates headed into the november midterms how to use rising prices at the pump to push people to go green. in a memo the group is advising

democrats on how to spin spiking prices in their favor saying it's essential for clean energy advocates to be on the offensive in addressing voters concerns about gas prices by fixing blame where it belongs and offering a clear path forward to voters. it would be a dangerous political malpractice to stand on the sidelines and let the other side defend this debate. democrats are going on the offense. the memo telling candidates to put the blame on oil companies and say they are price gouging and make the case for expanding clean energy alternatives and making electric cars cheaper. >> which is a? you can't blame putin and us at the same time. we are not price makers. we are price takers. we suffer from low prices and then have high prices and that is based on the price of oil globally.

>> reporter: the president of the western energy alliance is here on capitol hill with other energy trade groups talking to lawmakers. one point that they made in a letter to the president's there are 4000 permits in limbo that could be approved by the government of the interior so oil companies can start drilling and developing the leases that they have. stuart: okay, thanks very much. the greens explaining gas prices, blame it on the oil companies. a dutch bank, pleased to hear it is a dutch bank,ing, announced a huge step in their fight against climate change. lauren: not financing new oil and gas projects, cutting funding to existing projects by 12% by 2025. and targeting a 50% increase in lending to renewable energy

companies. if i can defend them for a second they did acknowledge we are not exiting fossil fuel altogether because affordable energy is needed. at least they realize their lack of funding is impacting the -- stuart: i will remember that for a long time. i want to bring in senator bill haggerty, republican from the state of tennessee. there seems to be almost universal agreement that we should boost our own energy production in america but the president is having none of it. explained to me, why won't he do it? >> he seems to be kowtowing to the far left radical extreme of his party, the biden administration has waged war against american energy from the day they took office, kin -- killed the keystone pipeline, forbade drilling onshore and offshore on federal lands, sent a clear message to

the marketplace that if you invest in the sector, fossil fuel in the oil and gas industry they will do their best to make in a very bad investment, weapon eyes the bureaucracy, look at the people they are trying to appoint to office, that would take banking regulations and use these additional means to go after the green new agenda. stuart: can they resist this forever? at some point when you've got to say we really need this energy from our own territory. of oil goes to $150 a barrel won't. the sufficient pressure to make them do something? >> i've got to believe that and they have to be looking at the same numbers i do. the inflation data putting the biden administration in a tank. i heard the previous conversation about the blame game, the oil companies but the american public is feeling this, the biggest tax increase across the middle class we've seen in decades.

it is shocking what they are thinking of doing, sending teams to venezuela to talk about the iran deal, they would rather deal with international killers than american drillers to solve this problem. of the one i have been saying all morning if mr. biden gives ukraine's the lethal weapons they need that they want and need the ukrainians can win this thing. maybe i am going a bit far but what are you saying? >> the intelligence we are getting suggests ukrainians have mounted as you know a very brave and courageous fight. the russians are getting bogged down. if you look at the mistakes letter putin has made particularly entering when he did the russians have bitten into a porcupine, this turned out to be a more difficult process and the ukrainians have inspired people to support their fight. stuart: what should president

biden say to nato in poland? >> he should keep nato strong. vladimir putin has done more to unite nato than anything we've seen. president biden is trying to take credit but he needs to keep nato strong and supply the ukrainians. stuart: is there any feeling in the senate that we should boost our own defense spending significantly now? >> we saw that in the previous administration, donald trump stepped up spending and a significant way, had a calming effect. i served as us ambassador to japan in the last administration. our presence was significant and we stepped up our defense expenditures, given the threats we are encountering around the globe. stuart: always great, thanks for joining us. nestlé suspending sale of nonessential items and russia. that would include kitcat candy bars, nest quick chocolate mix, nestlé originally said they are not going to suspend business

in russia but changed their mind following criticism from ukraine's president zelenskyy. check those markets, we are down 264 points and down 6 points on the nasdaq. ubs, that is a bank, will allow some us employees to work from home full-time. more than 70% of workers at ups, the bank, will be put on a hybrid schedule. a recent hack attack may have affected 366 clients none of whom have been identified but the stock is selling down another 7%. adobe is facing increased competition, down 9%. listen to this. one hospital could soon drop maternity center from its name. could ask say it is not inclusive for all birthing

people. vladimir putin quoted jesus to justify his invasion of ukraine. theologian jonathan morris takes that on next.

stuart: lots of red but not much for the nasdaq and s&p. the dow is down 250. susan is back. apple. lauren: apple announcing in the past hour they have drivers licenses and fake ids. they start in arizona, colorado, hawaii, mississippi, ohio, and puerto rico. apple reportedly paying $150 million for an artificial intelligence financial advising company but apple buys a small company every three to four weeks and they don't buy anything over $3,000 which was their largest acquisition. we one what is the difference between the taking a picture of the drivers license and putting it into my photos on my iphone and putting in my apple wallet?

susan: this will be acceptable with barcodes etc. and scanable. stuart: if i get stopped for speeding another state. susan: in your apple wallet. here's my state id and my drivers license and that is official id. stuart: big move, very important. tesla leading the electric car and barry producing stock. susan: don't whip outlier apple phone. tesla leading the electric car and barry producing stock today. if you look at the big factor reopening, elon musk saying batteries are the challenge and limiting factor the company in two years time. getting a good lift today because of that, whoever wins the battery tech race wins the ev race. stuart: the batteries are everything. high-tech, high-growth, where are they?

susan: they are up today. talking about how stocks are inflation -- that surprises me because for a long time, high inflationary environments, rates are going up but that's not the case anymore because these companies raise prices on those boxes and continue to buy them. the risk assets are getting a lot of biz and money is chasing these high-growth stocks. stuart: that is a turnaround, good stuff. crypto.com made a big investment in sports. doing supper with soccer. susan: they are the official sponsor of the world cup and cutter start this november, millions of viewers leveraging to showcase their brand, made sponsorship deals with the ufc, naming rights to the staples

center in los angeles. they paid $700 million for that. stuart: did they pay in crypto? they did not. thank you. keep your microphone on. the nfl allow block chain sponsorships. susan: teams can get sponsors. the league can't promote crypto currencies so this is a work in progress and is subject to league approval but shows how popular crypto currencies have become. stuart: all right. during the pro war rally, putin quoted the words of jesus to justify his invasion of ukraine. he said there is no greater love than someone who gives his soul for his friends.

that's not a direct quote, it is paraphrasing john chapter 15. of theologian, what is your reaction to a man who is pure evil quoting jesus. >> my stomach turns inside. it's not just because it is hypocritical but what gets me is the fact that vladimir putin knows he is going to get away with this with his people. the question that is very important is why will he get away with it and the burden of responsibility rides on one man's shoulders, head of the russian orthodox church, patriarch, has decided to go all in with vladimir putin. he has mirrored the structure of the russian government, made a parallel structure of the

russian orthodox church in which he has total power and silences opponent voices. he decided it is more important to him to keep power and to keep money then to stand up and say no, that is not what jesus means. stuart: an extraordinary event, an extraordinary development. pope francis spoke to zelenskyy tuesday, says the pope would well -- zelenskyy says he would welcome vatican mediation to help end the war. how would that work? how would the pope mediate? >> i don't see it working, look at the history of religion and state in russia. the bolshevik revolution, the soviet union. they tried to wipe out any religion or faith. what putin has done is say that didn't work. i'm going to co-opt religion,

co-opt church and he has taken control of the russian orthodox church and the vatican stands in opposition to that type of church and state code mingling. i don't think putin wants to have someone like pope francis saying this is what jesus meant about peace and standing up for the little one. stuart: i don't think any leader in any situation should say god is on our side especially in a military confrontation. i don't think any leader should say that. are you with me? >> what they should say is ask this question. am i on the side of god, peace and truth and beauty and truth, or on the other hand, am i selfish? am i seeking my own power and my own immortality? that doesn't end well. stuart: it does not. always a pleasure. our resident theologian, see you later.

now this. the biggest names in travel want to put a end to mask mandates on planes and also asking they want to drop all covid travel restrictions. we have that story. a school board in washington state adopted a new discipline policy. they will consider a child's race before punishing them. jason rants on that next. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship

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i didn't know my genetic report could tell me i was prone to harmful blood clots. i travel a ton, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪ stuart: red ink for the dow industrials down 260, the nasdaq turning into the green, up one point. big losers, dow losers, home depot, salesforce, and boeing, those are the biggest losers

and they account for a good chunk of the 260 point loss. how about wings stock? wedbush thinks they will be a top restaurant stock this year jumping by 40% from where it is now. starbucks workers held the union vote in seattle. do they have the votes? lauren: a 90 tally, it is a push that began, you have five in buffalo, new york, when in arizona and one in hometown seattle. a growing number and a big reason howard shultz is back for the third time. he is revered by the workers, calls them partners and resists unionization. half the country petitioning to unionize and the question is why?

starbucks workers are paid well. might be the expectations of them. to complete 10 orders including payments, some of these are complicated orders. they say enough is enough. the push to unionize for progressive starbucks which fended that off until now. could be a game changer. stuart: i have no comment on that. one hospital is just outside seattle, could change its name because workers say maternity center is not gender inclusive for birthing people who do not identify as women. jason rants is our seattle guy. this is about two genders, 300, in between. where do you come down on this? >> if you want to change your

name go ahead and change it but you should do it for the right reasons instead of erasing what is unique about women. the argument about how people identify is up to them. it is okay and the moral thing to be respectful of that but one's identity doesn't translate to fact. when you have a hospital doing this it comes with some implications, for a patient who identifies as male, a doctor for an actual pregnancy, the patient is treated under their biological gender which is female so the doctor doesn't stand and say this is a medical mystery, how did this happen, don't know how to move forward, they move forward the way you would expect. most people turning to a hospital say medical professional should not pretend there are 300 genders and understand there is a difference biologically between men and women. stuart: nicely put. next case the clover park school district. it will consider a student's

race before punishing them. to me that sounds wildly unequal treatment and is divisive. what say you to that? >> it is disparate treatment but this is what institutionalizing critical race theory does. they passed bills in the last two years to dismantle institutional racism. part of that mandates cultural competency which is understanding different cultures and traditions and family norms and those standards framed discipline statewide, not just this district. all districts will do that and it takes the student's race so when you have a white kid and black kid committing the same rule breaking, the teacher, the administration is supposed to look at that and say we have too many black or latino kids who are getting discipline versus the white kids, why don't we assume there's

implicit bow ice going on. we don't understand what it is like to be a black child or asian child or what have you so let's not give them the same punishment we would give the white kids which is condescending and racist to assume because you are black you might not know assault is wrong or stealing classrooms is wrong. i find that so repulsive, morally, i can't imagine they are comfortable doing this. stuart: is that the mentality in washington state, but race is everything and race comes before everything? is that the mentality widely shared in washington state? >> it is. certainly the legislature. when talking the constituency it depends on where you live, seattle is race forward where everything is getting stained with this wokesm. it is identity focused. that is why so many

conservatives are so turned off by this. stuart: would i be considered a racist if i said don't consider a child's race before issuing punishment verdict? what i be than a racist? >> absolutely. you are a white man. going to this conversation you would be assumed to be a racist who is benefiting from white privilege. they won't even listen to what you say unless you say what they want you to. that is a huge problem so they show this at be our time. don't know how many times i've been called a white supremacist which i'm a jew, i'm not a white supremacist. you are just disagreeing with them politically. stuart: you are all right. come back and see us again soon. show me the dow 30. i want a sense of this market, heavy selling for the dow 30 stocks. the dow is down 260. the cost of a domestic plane ticket up 33% from the beginning of the year and it is

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stuart: the biggest travel companies in this nation want the white house to drop mask mandates. what else have they asked? >> dropping testing requirements for travelers coming to the united states. the industry cited the cdc, 99.5% of americans living areas where covid levels are low enough you don't need to wear a mask so why do you need to wear a mask on a plane? this is what is going on at sea. quick aaa says bookings are up doubling in the past month compared to last year. 40% of people say we are just as likely to cruz now as before the pandemic of the same percentage are considering cruising in the future. will when cruising is coming back a little. stuart: the travel apps called hopper, and 7% every month.

and a 7% rise in 3 months. and i guess we should book today. >> we never want to go on vacation. for those who do, absolutely right, i've got the mask on. the best advice is jump on this while you can because in the last year, look at the folks what they say, 25% year-over-year for the average domestic fair up $300 and individual roots, we ask for some examples. the o'hare to lax root, it is

now closer to $320. it is volumes coming back online and also jet fuel as you might guess with of the run up in oil prices. that's cheaper than the gas you put in your car. it has lower viscosity, it is thinner, easier to refine, $3.30, jet fuel up 5% in the last week, 37% in the last month quote what was this time last year. so a perfect storm of things coming together, people traveling and jet fuel prices so there you go. and still where the masks. remember when only criminals wore masks? we are still wearing masks here. stuart: i hope they come off soon. thanks so much. quick question. you planning a trip this summer? lauren: i was shocked by the price. easter week we are going away. everyone is talking about the

price to go to florida. it hurts. stuart: i will tell the audience what we were talking about during the commercial break which i want to go to australia and new zealand to see my son's. i haven't seen them in four years. i looked at buying an airline ticket in january of next year. the round-trip for first-class ticket, america, new zealand, australia, back to america, $10,000, big-money. round-trip come big-money, first class. if i wanted a ticket the same root, same airline, which was fully refundable if i had to refund for any reason, $22,000, not 10 grand, 22 grand. what is going on? $20,000? lauren: is it direct? stuart: it would be new york, houston -- lauren: the problem is planes are so jammed that if there is an issue 's an issue with the

plane for whatever reason and you miss a connection there are so few seats available you are stuck canceling your plans because you're missing connections. stuart: you need travel insurance to cover that. not the refund ability of the whole ticket. $22,000 versus $10,000 to make it fully refundable. lauren: they are praying on our fears of what could happen with the pandemic. stuart: i don't know what will happen with the pandemic. should i shell out $22,000 now? lauren: you that is a high-class problem and i'm what you have that problem. we one that is what my dad said to me. should we move on? the wednesday trivia question. what is the most regularly consumed beverage in america, coffee, bottled water, soft drink 30? the answer after this. mobile app

so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

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...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life. stuart: all right, before the break we asked what is the most regularly consumed beverage in america. you want to take a guess, lauren. >> i guessed bottled water. i don't think i'm right. stuart: i would have guessed coffee. reveal please. got it right. americans drink on average more than three cups every day. in total we think about 146 -- >> is that small cup or nice tall starbucks? that is like two.

always wondered. stuart: 20 seconds left, anything you want to add -- >> another cup of coffee. i don't think you should buy, not going alone 40,000-dollar first class tickets to australia. stuart: who says the other person will get the same ticket? lauren: [laughter] stuart: killing myself here. neil, bail me out of this. it is 12 noon. it is yours. neil: i do feel your pain, stuart. when i heard it, i guess in your case, what complicates it you would be going to new zealand and australia? stuart: yes. is that the problem? stuart: yes. neil: you would need multiple stops. air new zealand started a non-stop flight to auckland? stuart: yes. neil: trying to help you out as a friend here. they have a new york to auckland flight, just in round-trip economy, it is $1498. they have one premium which is just above economy, premium