to "the claman countdown." charles payne is going to be back tomorrow, we're high higher, but it's a tepid rally, as you can see. we're not getting that buildback that we thought we would get. president biden already making those comments, now we're sending it to lauren simonetti in for liz. lauren: good to see you. breaking news, president biden says russian president vladimir putin underestimated the unity of nato when he invaded ukraine one month ago today and it should be kicked out of the g20. the president making the remarks just over an hour ago. the president spending the day meeting with world leaders to discuss the protection of nato's allies, the implementation of new sanctions on russia and how to help millions of ukrainian refugees of the war. the president's remarks come as the bombs just continue to fall on ukrainian cities. we've got our fox business reporters in belgium and poland

and foreign policy experts here to drill down what happened today, what's on tap tomorrow especially as it relates to energy. and the markets continue to bounce back from the selloff yesterday that took them down 1. you see the dow jones industrial average up 2341 points -- 241 points, about 38 points off the highs of the session. the s&p 500 up 4 is or 1% and the nasdaq higher by 181 points, the outperformer of the group adding 1.3%. and watch the price of oil. as oil falls, stocks rise. it doesn't always happen like that, that's not all the the correlation. it has been lately though. crude oil down $3.79, $111 a barrel right now. breaking news, speaking from brussels this afternoon president biden laid out plans for more than a billion dollars in humanitarian assistance to ukraine. the u.s. will take in 100,000 ukrainian refugees and put more

sanctions on hundreds of russian politicians and defense companies. >> putin was banking on nato being split. my early conversations with him in december and early january, it was clear to me he didn't think we could sustain this cohesion. nato has never, never been more united than it is today. lauren: during meetings today nato and g7 leaders agreed to strengthen their defenses in europe and lay out the response if putin deploys chemical, biological or, yes, even nuclear weapons. well, as the fighting continues, a russian missile attack killed six civilians waiting for humanitarian aid this afternoon. despite all of this, these war crimes, ukraine with holding its own, even taking out a russian naval ship earlier today. and with that we bring in john hannah, senior adviser to the foundation in defense of democracy, senior fellow to the jewish institute for national

security of america and former national security adviser for the "american idol" -- to middle east to vice president dick cheney. look, the president led his remarks with the unity of nato and, yes, that is important. but my question to you is should president biden have led with ukraine? can we actually help them win this war with one -- which one month ago i don't think many people thought would happen? can they win? >> well, it depends on how you define winning. i mean, by surviving a month and the very best the russian military could give them,s i think, is victory all in itself. the fact that they are still standing, fighting, that russia is no closer to actually seizing capital of kyiv and imposing their puppet government than they were a month ago, that russian losses are now numbered perhaps over 10,000 dead in one

month, this is absolutely staggering, and it suggests that going forward the russians are going to have an incredibly bad time. i think the ukrainians can win. there's a long way to go. they're going to have to bear the brunt of this, and it's up to the west to figure out every means we have to support them. short of bringing on that real genuine risk, however large, of world war iii. lauren: what can we give them that we have not given them? >> well, it's clear on the anti-airside, the anti-missile side we have some very sophisticated systems in western arsenal. we have some of the best russian systems that we've acquired that we could give the ukrainians that they could make use of immediately to start taking down some of these rockets that are being and missiled -- missiles that are being fired into civilian areas.

we have very large arsenals of drones that are wreaking havoc on russian armored columns that we ought to continue to feed into ukraine in very large numbers. lauren: what about the switch laid 300s? i believe we sent the 300s. the 600s have the javelin warheads. are we sending them, should we send them? >> we absolutely should. and don't just send a hundred of them, send them by the thousands. tease are death to the russian -- these are death to the russian military and russian armored columns and russian artillery positions, absolutely. we ought to be doing everything to provide that a kind of defensive help to these incredibly, extraordinarily brave ukrainians on the front lines of freedom and democracy. lauren: after the president spoke to nato, he did take questions from reporters in the room. the first question was, you know, we keep getting this threat from president putin nuclear, biological, chemical. and, you know, the u.s. and the

west speaks of our response being dire consequences, and the president said and i quote, we would respond if he uses these weapons. the nature of the response would depend on the nature of the use. is that the type of response that we should be giving to president putin? because you know kim jong un in north korea is hearing those same words, and he tested an intercontinental ballistic missile that flew almost 700 miles according to the south koreans and the japanese, and if that's a response that our other adversaries like iran need to hear? >> well, listen, having worked for presidents before, i understand that they want to occasionally play their cards very close to the chest, especially when you're talking about the possibility of military intervention. against another nuclear power. so i give the president some room on this. but i do 100% agree with you that we -- the president needs

to be figuring out ways to continue to impose massive costs. that means supplying the ukrainians with more weapons systems, it means bulking up the american defense budget, it means increased american energy production, and it means things like backing away from a disastrous iranian nuclear deal that could put a nuclear power capable of repeating russia's nuclear blackmail in the heart of the middle east. lauren: are you satisfied with the responses we're getting on containing china or having china answer for any support that they give whether it's militarily or financially to russia? >> listen, i think the messaging needs to be very powerful to china. heavy got a choice, they can pick a measly, declining russian economy, or they can pick to be a partner with the largest economy in the world. but if they a cross that line, i would very quickly, very rapidly have international sanctions

ready to go against a major chinese bank or defense company that even thinks about becoming putin's arms supplier of last resort or his banker of last resort. lauren: and, john, the president says we are going to help take in 100,000 ukrainian refugees, providing money to help do that. your thoughts. >> listen, this is a massive burden we're talking about. i don't know what it is now, 3, 4, 5 million people -- lauren: 3.6 million and counting. >> and counting. it could go as high as 10 million. this is a mass zive crisis in the heart of europe where we've got big interests in the security and stability of that continent and and of seeing the entire international community kind of rally around and share the burden here. and i think some level of american leadership and investment if in carrying part of that burden of the awful situation these people have been

inflicted with, due to no fault of their own or their country or tear government, i think the americans have got to lead on this. but we've got to demand accountability from every single one of our international partners not just in europe, but in the rest of the world and that we're going to be taking names and remembering people who stand by ukraine and the united states at this time of hardship and those who don't. lauren: such a tragedy. john hannah, thank you for the expertise. >> thank you. lauren lauren and as all of this is happening, we do have markets flying higher as priden meets with nato and g7 leaders overseas. but oil in the red today as the u.s. and our allies discuss a second release of oil from our emergency reserves. oil is at $111.47 here in the u.s., brent, $118 overseas. both are down today. plus, opec saying today it worries if the european union were to ban russian oil, there

would be severe impact on consumers. but president putin would lose his greatest customer, right? and also the source of funding for his brutal war on ukraine. now, well, in its second month. the russian stock market opened for the first time in a month today since putin's invasion on ukraine, but the restrictions that short selling is banned and foreign clients are not allowed to sell, well, that defendant helped to prop it up, you could argue that it's not a real market, it's a minute one. with that, we get straight to the floor show. joining me now is the schork report founder and editor, steven schork, and john corpina. steven, i want to begin with you here. do you expect to see what we call a deliverable tomorrow? do you think europe bans russian oil knowing it could trigger recession if you listen to germany, and how can can the u.s -- how can the u.s. help supply europe with natural gas? >> yeah. well, the u.s. is doing

everything it can at this point. we cannot do any more. our lng export facilities are running at max capacity. much of that is destined for europe, keeping in mind that europe has underinvested in their intake ability; that is to say to regasfy the lng when it gets in to port. so there are the limits to what the united states can do. i mean, we're at the limit right now. europe is at a difficult situation right now. certainly, they're risking recession. look, we're headed to recession here in the united states, so -- and i think recession's already baked into the recipe here. we simply cannot sustain these energy prices of what we've seen keeping in mind that every recession going back to the early '70s with the arab oil embargo was preceded by a precipitous spike in energy prices and the current spike we're seeing right now we've never seen. so i think the die has been

cast. so that said, we have to make up our minds, are we going to accept -- step up to the plate like our grandparents do, sacrifice, ration as we had to do during world war ii? simply seems wert at those straits, and i would give it about a 50-50 shot the europeans would buy in. they're a lot closer to the action at point. a falling ukraine, that's the rest of europe that is now vulnerable. so it is time to recognize that we are in a position that we have not been in multiple generations. lauren: wow. jonathan, do you agree agree with stephen that a recession is baked into the cards here in the u.s.? if. >> i do. he makes very valid points there. this is such a fragile situation, and every day that this continues and we see the volatility in the market, yes, we're having more green days more recently than red, but it just shows us that the overall global economy is waiting to figure out and see how this is all going to play in front of us. the meetings today, comments

coming out of washington, coming out of europe, coming out of nato all positive, i think, has this effect that we're seeing on this market now. but it's really going to take time to see how it all plays. do we get everybody to come together, stand together and at some point stay firm in when you do stay firm, there might be some ripple effects that come from that as we continue to talk about inflation, as we continue to talk about oil prices. it's just whether everybody comes together, as stephen said, and bears this brunt together and is able to get through this at the same time. lauren: we're looking at live images right now from brussels, belgium, where president biden is meeting with nato allies on the ukraine crisis. and i believe this is the european council meeting that is about to get underway. we're hearing from morgan stanley, just to name one name, stephen, that we're going to see a 50 basis point hike in may, another 50-point hike in if june and then 25 at each meeting

throughout the rest of the year with quantitative tightening beginning in may. we're talking about recession being possible, being palpable right here in the u.s. because of inflation. but, stephen, can the economy handle all these rate hikes? >> no, i don't think so. i think the fed has been late to the game. they spent the better part of last year if in that la land -- la la land thinking that inflation was transitory. they've got a rude awakening right now because it's not just inflation at the gas pump, we have to keep in mind this war on natural gas, people who want to ban natural gas don't realize natural gas is -- you cannot have farmers without natural gas. it's a a key feed stock into ammonia nitrate which is fertilizer which now prices of fertilizer have been driven so high that farmers are putting fewer seed into the ground, so our crop yields are going to be lower come the end of the year. so we're looking at a inflation not just at the gas pump, but at the grocery counter.

now when you look at all these rate hikes, i think it's clear being late to the game that the fed is going to set a recession to kind of combat this commodity inflation. so to answer your question, no, i don't think the economy can handle accommodation of potentially $150 oil which i think the odds are by summer a 25% probability. lauren: goldman sachs sees it at 165, so they're upping you there, stephen. you're talking about fertilizer stocks, and so much of it comes from ukraine, so that's another issue that we have to worry about. jonathan, i'm going to give you the final 20 seconds just to wrap up for us. >> you know, i think stephen's points were absolutely right. the fed had their opportunity to make a move, they didn't when they could, they're going to paint themselves into a corner, and at some point they're going to just play reactionary as opposed to being proactive in a point where they had that opportunity to do so. lauren: jonathan corpina, steven

schork, thank you so much for the time. and, you know, we're talking about recession and fed hikes and, yeah, the nasdaq hitting session highs as interest rates spike higher as well. be right back. ♪ ♪ i may be close to retirement, but i'm as busy as ever. and thanks to voya, i'm confident about my future. voya provides guidance for the right investments. they make me feel like i've got it all under control. [crowd cheers] voya. be confident to and through retirement. certified turbocharger, suspension and fuel injection. voy translation:nt certified goosebumps. certified from headlamp to tailpipe. that's certified head turns. and it's all backed by our unlimited mileage warranty. that means unlimited peace of mind.

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♪ lauren: a bill float around congress -- floating around congress a aimed at tackling rising shipping costs. the average price to move a 40-foot box from the china to the u.s.' west coast, $7-8,000. last year -- [laughter] it was around $5500. but the question we want to know is will this legislation actually send prices lower, and for that we have ya hu live at the port of -- lydia hu live at the port of new york and new jersey. are we hopeful on this legislation? >> reporter: hi there, lauren. you can see in action exactly what we're talking about here today, this massive vessel can take, carry thousands of these containers stacked pun on top of each other. just behind us moving through the bay here very slowly, navigating away from the port at the moment.

president biden says the higher shipping costs that we are seeing around the world are a product of too few companies like this competing for business to transport these containers. but critics say actually larger economic issues and forces are at play like surge in demand for consumer goods, a lack of the containers and not enough workers available throughout the supply chain. you mentioned those costs, lauren, the rates. two years ago costs less than $1500 to get a container from china to the west coast, but now it's surging more than $16,000. to get the rates under control, congress wants to give more authority to the federal maritime commission to oversee fees and negotiations. but what's particularly concerning the shipping industry is separate legislation that gives the commission power to approve new applications for alliances between shipping

companies. critics say this could lead to wasted space onboard the vessels. >> our concern is that the government gets too involved in how that system operates, it will become very inefficient, and people will get worse service rather than the better service that we're all looking for. of. >> reporter: now, while president biden blames big business for the inflated prices that we see, critics warn that increased regulation will only add more costs to the process and further slow shipping around the world, lauren. lauren: lydia, did you say that the price to ship from china to l.a. was $1500 in 2020, $5500 last year and $8,000 now? >> reporter: actually, it's more right now, more than $16,000 more. and that's actually a little bit lower than the high that we saw just a few months ago. and the shipping insiders

actually warn we me we could see those prices tick back up in the months to come because the supply chain, although it has improved in recent weeks, it could very well become more congested as the -- as we move forward away from the lunar holiday. lauren: that's inflation, if i ever saw it. great reporting, we appreciate it. intel driving dell higher. that and more straight ahead in today's pop stocks. first, let's check the big board. tons of green on the screen, the dow surging 309 points, 34,669. "claman countdown" coming right back. ♪

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lauren: a fox business alert, shares of intel topping the dow jones at this hour following several reports that a deal with

fellow chip item maker nvidia is in the works. the company's interested in using intels plants to build their chips as they explore new ways to diversify their suppliers. in fact, chipmakers across the board, as you can see, seeing strength today after top industry executives on wednesday urged congress to pass legislation that includes subsidies for the semiconductor industry. intel is up almost 7%, nvidia soaring almost 10%. well, china's adr is not doing so hot as uncertainties surrounding the delisting of these stocks from u.s. exchanges continues. the securities and exchange commission ad china's version of twitter to a list of companies they say have failed to meet financial disclosure requirements. sec chair gary gensler has warned as many as 250 chinese companies could be delisted from exchanges as early as 2024 if they don't start complying with listing requirements. die bye down 3.3% -- die bye --

baidu down and jd.com and showers of nikola, the electric truckmaker, they're moving in the opposite direction, up more than 4% after starting production of their electric semi truck at their arizona facility. nikola plans to start delivery in the second quarter with 30-500 -- 300-500 trucks and increase production in 2023. looks like they're on time, and shares are up for a that reason. the ore ev makers, well, they're up as well. the tesla up 1.6%. it's above $1,000 at $1,015. rivian higher by 4%, and gm, their hummer everything v is about to hit the market, thats' up 1.5%. and this, an agreement between uber and two new york city cab companies has uber's stock surging 4%. so the deal allows customers to book taxi is raids within the uber app giving them access to a

wider range of options. the move is seen as an old will live branch from uber who has been in fierce competition with new york city taxi services since its founding back in 2009. uber expects to launch this feature later this spring, but i think the timing is curious because, well, there's a driver shortage right now, right? and not a demand shortage, because a lot of people don't want to take are public transportation. and gas prices are high and the driver want some more money and more rides. coming up, president joe biden in brussels at this hour after pending the day with world leaders. we've got fox business team coverage in belgium and in poland to discuss the fallout. but first, let's show you the market. we're doing welled today after yesterday's 1% sell off. the dow's human 329 points, s&p up 1.25% and the nasdaq storming up at 14,268. we're coming right back.

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♪ lauren: breaking news, president biden is meeting with the european council at this moment. it's past 8:30 at night in belgium. it's been a long day and a productive day. president biden just moments ago telling reporters that the russian president, vladimir putin's, overwhelming objective all along has been to break nato up and to demonstrate that democracies cannot function in the 21st century. i think he was proven wrong. we have fox business team coverage on the ground. edward lawrence live in brussels9 with the latest on president biden's meetings with nato allies and e.u. leaders, and further east ashley web thester joining us from the ukraine/poland border where more than 3.6 million people have already fled, and it's only been a month. edward lawrence in brussels, what's the late? >> reporter: yeah, lauren. president joe biden saying that

he will throw a billion dollars in additional humanitarian aid at the ukraine issue to help with folks there. that makes more than $2.2 billion the u.s. will have spent on humanitarian and military effort for ukraine in the past year. now, the president herald a lot from nato members, he heard a lot from the g7 and the european council which is the meeting he's in right now. in that that nato meeting, the ukrainian president says he needs assistance without restriction. on february 24th he did not get a clear answer about the military equipment, so zelenskyy was more clear today, specifically asking for tanks and planes. now, he did not ask for membership or a no-fly zone, just the means to fight back themselves. president biden says he supports ukraine but did not specifically mention any military equipment. >> putin was banking on nato being split. my early conversations with him in december and early january, it was cheer to me he didn't think we could sustain this

cohesion. nato has never, never been more united than it is today. >> reporter: senator john barrasso believes the president should approve all of the requests from zelenskyy. listen to this. >> if the ukrainians know how to fly it, they know how to fire it, we need to get it to them. they have shown such heroic patriotism in fighting this fight, we need to stand with them. this is a fight, in my opinion, between good and evil. >> reporter: now, tomorrow we're expecting an announcement with the e. u. commission president as well as president biden to talk about getting europe specifically off of russian oil and natural gas. specifically, the e.u. commission president's going to ask president biden to export more oil and natural gas. back to you, lauren. lauren: edward, what are you hearing about china's involvement and any pressure that president xi could be

giving president putin to step back from this war, to deescalate? >> reporter: between china and russia, the chinese are saying one thing, and then you see them do something else. we're hearing china doesn't want this war, and we heard that again today from various places and various voices within china. but what you're seeing is china bringing in their union pass when visa and mastercard pulled their transaction as out and china doing normal economic operations, as they call it, between china and russia. the nato members here as well as the g7 members put china on notice saying that they are watching and looking at possibly a secondary sanction group initiative that they're going to look to see what other countrie- are helping russia that through this and possibly put sanctions on that. the president makes the point that, hey, he believes china wants to see the money come from the west because russia doesn't have that kind of cash that china wants. back to you. lauren: edward lawrence, thank you very much. and as the u.s. says it will

admit 100,000 ref of few gees, pressure is building on neighboring poland. more than 3.6 million have fled ukraine, most of them crossing the border into poland which is now asking for others to chip in. ashley webster is there, he's live on the poland/ukraine border with the latest on this mounting every refugee crisis. ashley. >> reporter: yes. good evening to you, lauren. if there's any if good news, we have seen the flow of refugees pouring out of ukraine into poland slowing down in the last couple of days. we're about 60 miles north of the border area that most of the reporting has been done. it's a busy commercial crossing point here. we have seen refugees in cars come out sporadically today but certainly not at the rate that we saw at least maybe a week ago or so. just to reemphasize those numbers, 3.64 -- 3.674 million total so far have left ukraine. of those, more than 2.1 million

have come here to poland. and there was some encouraging words, you mentioned 100,000 the united states will take, up to 100,000 ukraine every refugees, also $1 billion to aid to help poland and other countries who are taking in these refugees. and, well, he let it slip, probably he shouldn't have, but the president says he will, indeed, be coming to poland tomorrow. there's a good chance he'll be meeting with some refugees. take a listen. >> you see that look, that blank look on their face, that absolute feeling of, my god, where am i? what's going to happen to me? and so it -- what it will do, it will reinforce my commitment to have the united states make sure we are a major piece of dealing with the relocation of all those folks. >> reporter: as the president pointed out, the problem is that many of these refugees once they get into poland, they don't want to go very far because,

naturally, they want to get back to their homes back in ukraine as quickly as possible, and that has created the problem in poland in particular because the cities, the major cities, have been full to the brim, and they have nowhere else for these refugees to go, and they want them to have a roof over their head. it's a difficult situation, and the president, again, will get a firsthand look tomorrow here nor poland. lauren: and all many of them have is the bag on their back and a cot. and we say that more than 3.6 million people have fled. another way to look at that, ashley, is it's half of all the children in ukraine. and when you think about it like that -- >> reporter: i know. lauren: -- what a crisis. >> reporter: it is a crisis is. again,st it's slowed down, but i have a feeling before this thing is all said and done we could see a lot more of those refugees coming across the border, no doubt. lauren: ashley webster, thank you. >> reporter: thank you. lauren: california's dreams turning into night the mares for drivers -- [laughter] as gas prices hit new records.

up $2 in the past year. the golden state has the ability to pump more than, more gas. it could reduce kansas city own reliance on foreign oil too. kelly o'grady has the story live from an oil field in california as the closing bell with the dow up 292 points with about 19 minutes left to the session. we'll be right back. ♪ ♪ ♪ ♪ it's electric... made extraordinary. ingenuity... in motion. it listens, learns, adapts and anticipates your every need.

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1-800-217-3217. that's 1-800-217-3217 ♪ lauren: all right. the battle for energy independence playing out certainly overseas, but what about in california? take a look. los angeles, gas prices are averaging a record $6 a gallon. but california governor gavin newsom now says how about $400

debit cards sent -- not now -- in july to car owners? so a household could get $800 in rebates in the form of a debit card. taxpayer dollars. despite the golden state having the capacity to drill for more oil, and that's where we find kelly o'grady live at, your in front of a -- you're in front of a drilling rig, what are you learning, kelly? [laughter] you're laughing. you're in california. >> reporter: i know, right? you know, that's exactly what i was going to say. i remember you were in texas oil fields a couple of weeks ago, right? this isn't the visual you expect when you think of california. curran county is the largest producer of oil in the continental u.s., but green policies have drastically reduced production, and you know, what we don't produce here, we have to import. and industry leaders tell me they have the infrastructure to

start drilling more immediately and driving down those gas prices. i want to show you that infrastructure. look behind me. this is a horse head, okay? it's drilling for oil and water in the ground here. and then if you pan over, lance is going to show you they actually go through those lines and end up in those tanks, and that's the first step in the process where you separate water from nat gas and oil. i want to bring in dave, the mayor of taft, and he's an oil industry credit -- vet. tell us more about what's going op. roett say you start drilling more, how quickly could prices drop? >> when we see a change in policy and intent in the state california, it'll be recognized by wall street and the traders. that'll have an immediate effect as far as where oil is going. web get those permits, we can drill these wells, we've got the people and infrastructure in place. it'll take a little longer to get to market with crude. >> reporter: lauren mentioned the governor's proposal to issue

$400 in tax rebates, does that frustrate you? >> it discuss,s indeed. it's -- it does, indeed. instead of addressing the core issues that created this problem, running away from the problem is not going to solve it in the long run. >> reporter: and real quick, you know, california, highest prices in the nation. is it a warning sign for what might be across the country? >> it is, indeed. we pay higher prices for gasoline and diesel in the state of california than any bordering state, and it's not because of the cost of crude, it's the cost of sacramento, it's the cost of california. so i would say to the other 49 states, a take a look at our failed leadership policies, our fail environmental policies expect net cost to the people as far as energy security and the economy. don't follow our bad example, let it be your warning. >> reporter: well, lauren, i don't think i could top that line, so i'm going to send it back to you. lauren: yeah, that is certainly a warning side -- sign, and we

heard it. kelly o'grady, thank you very much. fox nation and fox business will be hosting the energy independence summit live from staten island, new york, on tuesday, march 29th at noon eastern time. you'll see fox business talent and other guests streaming live on fox nation. log in to foxnation.com to see all the action. well, all aboard, today's countdown closer is playing conductor and says one stock pick will help you ride the rails to portfolio profits. find out which one in just a bit. closing bell rings in 10 minutes. ♪ ♪ if you invest in the s&p 500 your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500, which reduces potential concentration risk

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lauren: six minutes to the closing bell rings. stocks at session highs. everything up 1%. nasdaq outperformer, crypto

rally certainly in progress, bitcoin retaking or 43,000,939. ether climbing above. pot stocks getting heim, leavely and tilray to the upside. medical marijuana legalization billfishly scheduled for a house floor vote, that would be moving this sector higher. wework, they're up too, up 10% after filing shows that its ceo purchased 30,000 shares, shows he has confidence in the company this week. all right. dow jones transportation index is up 15% over the past year. our "countdown" closer has a stock that has railroaded its way to the top. joining us cap trust investor of investment research christian lidell. did i give justice to your last

name? >> you got it. thank you, lauren. pleasure to be here. lauren: which wail road company to you like, sir. like union pacific. you could probably throw a dart hit a good one no matter where you go. we think this is a great way to play inflation. not just in the short run, but if we have real problems with russia and the east, causing trade problems, longer term, this will be a great way to play deglobalization. lauren: 2003 globalization, are you saying respect to larry fink's blackrock letter to hair shareholders because of the russia and ukraine. exactly f we build more supply chains, manufacturing in the united states, you will move a lot of material in this country on rails. lauren: that is kind of scary, that is such a jolt to everything we know. do you agree with what he said?

do you think it's a positive or a negative? >> we certainly think it's a risk. unfortunately a lot of that risk is in the hands of one man, mr. putin and, if he continues on his crusade here, we could have some real problems. then of course what china does is either join in or stay separate. lauren: i do want to get the rest of your picks, let me just chime in here, both of our guests, on the top of the floor show agreed on. the idea, prospects, threat, fear of recession already baked into the markets. what do you think? >> you know, i did notice that the average stocks or the median stock of the russell 3,000, a broader index than say the s&p is already 25% off its highs. so to some extent that fear is already baked in. lauren: wow. >> in fact you could see it start going the other direction

soon as six to nine months from now stocks usually look forward that far. we may see the end of the fed tightening cycle. we may see the headline inflation numbers come down and, more than likely we'll see some sort of resolution between russia and ukraine. so, a lot of things could be getting better from here. lauren: inflation coming down because of the fed's more aggressive approach? >> that and end to the russia ukraine situation. one way or the other either the world is going to have to find its supplies elsewhere or russia will have to rejoin the global community. lauren: wow, who would have thought, i guess a black swan event, the pandemic and war, massive reshaping of everything that society knew. while we have you let's hear you your other stock picks. you also like williams-sonoma, we call them the expensive spatula company that doesn't have to discount their products that much because they're super popular. >> fancy kitchen gear only about

15% of their sales. lauren: oh. >> most of it under pottery brand and westmany brands. pottery barn, sorry. this has been one people just hate because that was a beneficiary of the pandemic and they think that the sales are going to drop off of a cliff now that we're going back out in the world. but you know this company just guided to the next year, 2022 calendar year to be up again. so they're managing through this. they are raising prices and one thing that is really important here, this is a company that has excess free cash flow, deploying to stock buybacks and over the last 10 years they have bout back a third of their company and are planning to buy another 15%. give it enough time the company will take itself private. lauren: okay. you know, the world always needs more 25-dollar spatulas and 200-dollar sheets that don't always ship for free. just putting it out there.

finally tell me about s&p global, inc., your third pick for us today? >> s&p global, you probably he no the indices that they own or manage. they are actually more into bond ratings and there is a good chance we'll need more debt coming forward in private companies and public companies and what i think is missed by a lot of people recent merger with ihs market, this is making a data services powerhouse. they have a dominant share in data services in many industries and with ihs they will be able to raise prices. i'm sure you can understand if they're publishing a report or rating a bond and they can send it to one additional customer, that's all money to the bottom line. so a lot of leverage there. >> christian, thank you so much, for the ideas and perspective. we do appreciate it. stocks closing right now near the highs of the session. it was a strong day from the get

go, the dow, the high was 352. if i could stretch this long enough we might actually pose absolute highs of the session. nobody is complain about a 300 plus point gain. that will do it. [closing bell rings] that does it for the claman countydown. sometimes you clap so much your ears hurt. "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. let's begin right away bringing in edward. lauren: with -- edward lawrence live from brussels with the nato conference. what can you report? reporter: a lot of big headlines coming out of brussels a lot of big headlines made by president biden from his news conference. one, if russia uses chemical weapons, nato would respond in kind. obviously he didn't mean nato would use chemical weapons.