beats its wings? take a guess. >> 360 beats. stuart: i can't see it. okay. i will go with 40. what is the answer? >> what? stuart: 80? my goodness me. i have hummingbirds around the place in florida. beautiful creatures. 80 per second, how about that? my time was up. that was very interesting about hummingbirds. i hope you liked it, neil? neil: i did. but you know they're all fast. all of those options are really fast, right? what if you're the slow one going 20, ruffles a second, they say get out of here you lazy? stuart: slow ones don't eat. neil: slow ones, that's true. you're tough out of luck. thank you, stuart. i always learn something there, not stuff i necessarily want to do but i am glad i learned it.

stock prices move up as oil goes down. the optimism the talks over in turkey are producing at least some promises to change thing with the russians talking increasingly right now, ending, scaling back some attacks. we'll see if that actually happens. we will in a second but crude oil which drifted below 100 bucks a barrel is around the 102 area. this is going on in china, they're having a devil of a time in shanghai in particular with a serious spike in cases with the new ba.2 subvariant right now that has really shut down one of the most industrial cities on the planet. 25 million are caught on that. a lot of folks are sleeping in offices because they can't go hole. that drags on there. not a problem necessarily for equities here. we'll get into all of that in a second. a yield curve development on the two and 10-year side, the five

and 30-year side, might, might be hinting of some problems down the road. let's focus on the green. focus on a president waiting to see exactly what he thought of those ukraine-russia talks today. for that we go to edward lawrence at the white house. reporter: neil. neil: it is day 34 of that invasion of ukraine. now the president speaking with leaders of france, italy, germany and the united kingdom. on that call they talked about staying on the same page related to sanctions, but also they talked about europe get oaf of russian oil and natural gas. this comes on a day of international focus here at the white house. the president just finishing an initial meeting with the prime minister of singapore. listen to the president here in the oval office. listen. president biden: partnership is important than ever been. in fact of growing importance. rules based order is fairing unprecedented challenges. reporter: sovereign nations matter.

he was making the point the dow partly responding on update of news of progress in peace talks. russian officials say they scaled back operations in kyiv for the first time. tangible signs of progress towards peace. maybe if the russians stay true to their word. in fact schools in the capital city are reopening. still representative mike gallagher on the armed services committee says the president needs to stop sending confusing messages like saying president putin must go, then adding days later, that was a personal opinion, not policy. >> so it is time for the president to exert leadership over his own team and over his own message discipline in order to put the ukrainians in the strongest possible position to force putin to remove himself from the donbas to allow ukraine to exist as a free country going forward. reporter: we heard from the former ukrainian president on this network earlier this morning. he said they would not give up any territory and would not

surrender. back to you, neil. neil: edward lawrence, thank you very much. how are they reacting to this early, at least promising talk maybe russia, not suspending it but cooling it on some airstrikes. committing to that, doing that will be important. alex hogan in lviv, ukraine, with reaction there. what are you hearing from folks? reporter: hi, neil. these conversations wrapped up about five hours after they began and russian delegates say they will not meet again tomorrow. this concludes this round of conversations. the russian delegates say that what they are doing essentially is pulling back, scaling back some of the military advances that we've seen around kyiv and cherniv. we see the highly con seed area see more and more attacks.

that is what we are seeing with russian forces tightening the grip on mariupol. near that area the mayor says residents should flee. up to 160,000 people are still there. he says that they are trapped. in the last month up to 5000 residents from that town have died including about 210 children. now further to the southwest of the country there is an entry point to the black sea that is mexico live. if it is seized cut it off rest of the ukraine. they blast ad hole in a government building. 22 people are dead, 100 people wounded. they are searching for survivors. they're trying to flee the area out of concern what could happen to them one woman said, everything is destroyed. destroyed.

i don't know what they want but if you can't have a normal live in your territory why are you coming to someone else's? they are talking about the once vibrant cities turned into rubble, with cars that have been burned, homes that have been destroyed, littering ofth landscape used to abnormal country, normal cities just about a month ago. neil? neil: alex, thank you, be safe, alex, please. it comes down to this, russia is committing itself to drastically reduce attacks aren't kyiv and chernihv. you seem to be targeting civilians. you seem only to be targeting civilians. the russians demurred from that. i think this voluntary move is a goodwill gesture as this latest round of talks kick off. there are no plans to resume them tomorrow but you never know

as alex says. general jerry boykin, former undersecretary of defense, former delta force commander. general, what is it i think ronald reagan said trust but verify. we really have to verify some of these commitments the russians have made. what do you think? >> yeah, first of all, thanks for having me on, neil. it is good to be with you. i don't think we can believe anything putin says. we know he is a master of propaganda. i think the reason we're hearing a lot of this stuff about changing strategies and backing off from some of the previous city targets, i think that means that he is losing. i think that it means that he is, he is so far under right now he is looking for a way out of this. i do not trust vladmir putin and i do think much of what we see is propaganda but on the other hand we should be hopeful.

they're talking. we should be hopeful that will produce something. i just don't think that putin is ready to give up right now and i think it's, at this point it's all about him staying in power and whatever he does the major objective will to be stay in power. neil: now part of staying in power looks like you got something for your war in ukraine, right? you might not be able to fully take over the country but you got to point to something. now many have been citing the lands that russian soldiers have occupied and gained in the course of this better than one month along the eastern part of the country and some southern port cities and the like. that he might demand before any sort of a deal that he keep that as an additional prize to crimea back in 2014. what do you think of that? >> well i think that's, that may very well be his strategy at

this point and his propaganda machine will say that was the intention all along. they only wanted eastern ukraine, the donbas region and a land bridge into crimea. that said zelenskyy gets a vote. i think he has made it very clear he is not trading any land for peace and look, i think he has proven himself to be a man of integrity and a man that does what he says. he said he is going to defeat the russians. well, he hasn't defeated them yet but he is on the way to doing that. neil: you know, a number of top russian oligarchs have bolted from the country. concerns that one might have been poisoned in britain. that is a separate story. we're seeing a number of prominent russians including putin's former climate envoy, who got out and criticized the government, vladmir putin in

particular. isn't that the kind of stuff you need to see, general, to get putin to change or even to be forced out? that it has to come from home, not from ukraine? >> i've talked to a number of experts. in fact last wednesday i talked to a fellow over in the ukraine and a guy with an incredible amount of intelligence which i think was valid and i don't think there is any question that vladmir putin turned on the oligarchs. stop and think about it. he turned on the oligarchs. he turned on the people that helped keep him in power and now he has got a problem with just the average russian all over the country. i think he is gone. i don't think that he can stay in power but i think that he is going to do everything he can to overcome what has occurred here with regards to him losing this

war to a, an army that was underequiped and frozely -- grossly overgunned. they're winning. there is still a long way to go but they're winning. neil: you're right about that but i'm wondering too what happens if they do come to some sort of agreement? obviously he wasn't president at the time president zelenskyy knows what happened when the commitments it made, country made to suspend the nuclear arsenal they did not get the backup they thought ultimately they would. ultimately the ukrainians have to have a military, a significant military on standby, maybe in owing to your own past, like a delta command force, just in case? >> you know, neil, i do not think for a second that president zelenskyy is going to

agree to any kind of disarmament or any reduction in weapons. i think what he is going to do, he already said he would consider just being a neutral country and not, not being part of nato or any other alliance but that said, you bring up a great point and we convinced the, not him, but we certainly convinced his predecessor to turn over all their nuclear weapons, with a guarranty that they would have u.s. and that nato backing if they would turn those weapons over because we were afraid that they might be a rogue state or their leadership might be rogue and, how did that work out for them? it is an abysmal failure. and i'm actually embarrassed that america was part of that because we have not lived up to our obligations and don't think for one minute that that isn't? the back of zelenskyy's mind as

we go into any kind of negotiations from this point on. neil: so when he talks about neutrality he can stick to that because you know, the dirty secret was, it was nato that was, hesitant about ukraine becoming a member. that would be very different now. he is saying, take him at his word, that is zelenskyy, he can live with not joining nato but he is in danger if he isn't in nato? >> yes, he is. i don't think there is any question about it but here again what's his alternatives at this point? this has destroyed so much of that country and they are still fighting, they're still in the battle and they're taking back cities. they have taken back three cities now but that said, he is paying an awful price for this. there has to be a point at which this has to come to an end and they're going to have to give something.

so i think that if they give, pledge that they will not join nato, that is going to be a major concession on their part but that said, they're still going to be vulnerable because they are right on the border of russia and whoever follows vladmir putin is going to be looking at exactly the same thing because this is, there is a deep historic passion associated with this whole ukraine and kyiv and the fact that at one point that was russia. that was it. that was russia. that was the mother land. neil: yeah. exactly. back to the glory days. that is what this is all about for putin. maybe you're right, general, not only vladmir putin. so if you're dealing with the devil you know versus the devil maybe you don't know. general, great seeing you again. thank you, my friend. >> good to be with you, thanks.

neil: all right. jerry boykin on all of that, former deputy undersecretary of defense. we're up about 195 points on the dow. oil, you know, moving up a little bit here but the fact of the matter we're a long way from 130 bucks a barrel we were seeing when all of this was getting way out of hand. there is optimism here some kind of a deal could be struck. the reason why that could take a lot of the fear factor out of oil prices, all of sudden we getlogical math here on oil and that logical math oil will be high but shouldn't be this high. then there is gold planses saying it should be higher, maybe 200 bucks a barrel. who knows. right now we're up 190.

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neil: all right. existing new home pending sales, when it comes to real estate are not doing what they were but man, oh, man, that has not put a dent in home prices, continuing to rocket. let's go to grady trimble keeping track of that and other major business headlines. grady, this is incredible and non-stop. reporter: it is. because home supply is incredibly tight. anybody who looked to buy a home in the last several months knows

inventory of homes for sale, that record low in january was, that is driving up home prices. let's show you the numbers for january, up 19% from last january, according to the 20 city index. that is the fourth largest annual gain on record and increase almost 1 1/2% from just december. the cities with the biggest year-over-year gains? phoenix, arizona, and two cities in florida, tampa and miami. it is important to note these numbers are from january before the war in ukraine and before we started to see mortgage rates climb. so we could start to see the impact of that soon. on to jolts numbers, the gap between job openings and new hires is still high. yepings gapped lower but less than expect of 11.26 million. new hires came in at 6.7 million. the great resignation continues.

the number of people who quit or switched jobs was 4.4 million. the number of manufacturing or retail workers who quit was higher in february. speaking of retail and shopping consumer confidence unexpectedly increased to 107.2 in march. that is the first increase of 2022. expectations for the future though not looking good because the prices of just about everything, especially gas, are so high right now and because of the war in ukraine. looking to the future consumers expect prices to rise another roughly 8%, neil. in the next year. that would be an all-time high. neil: grady, thank you for that. grady trimble. but the underlying economy as grady pointed out is sound and that's one of the big reasons why we explored on this show, actually all my shows, this argument we're redoing the 1970s is not quite accurate because the underlying economy for jimmy carter at the time was anything but the robust strength we have

in this economy, hiring that is going on, real estate activity, albeit maybe unsustainable at this pace but remarkable enough itself, industrial production, all of that. maybe that is what the market is pouncing on, that this is not the '70s redone. ray wang, back with us, constellation ceo. our own susan li. susan, what do you make of that, this notion all right, joe biden is jimmy carter, keeping the politics out of it? the big difference right now this underlying economy is something that jimmy carter would have prayed for back in the '70s. >> it's a strong economy and you heard grady trimble there talk about the jolts number, 11 million jobs still available. so you're still close to the record job openings, right? neil: amazing. >> quits rate, you don't quit in a bad economy. so the quits rate is still at four million, still near record highs and again if you look where treasury yields are going, rates go higher in anticipation

of a better economy and for the first time since 2014 you also had german two year bund yields, i know it is exciting, turn positive for the first time in eight years. so that is indicative of a growing global economy. you see all the money rushing to buy the dip, which indicates to me investors are comfortable we're in the rising rate environment. by the way, the last five out of six times rates have gone up, those rate rising cycles stocks have also outperformed as well. neil: that is very interesting. we make a big deal, and rightly so, ray wang, maybe about inversions and yield curves, talking about the five-year, 30 year, two year and 10-year. i know there have been more of these yield inversions than recessions but all the recessions we have had have been preceded by an inversion. it gets the attention it does because it always has been a precedent to a recession or slowdown so are you looking at

that now, or do you look at other factors that negate that? >> you know i think the factors i'm looking at are corporate earnings are really good, the employment numbers are really good, the u.s. economy is really strong, despite interest rates, invasion, inventory, infection, inflation, all these things coming at us, the economy is still pretty strong and the jobs numbers is one of those numbers you look at and the other numbers i'm looking at the corporate earnings and tech earnings. they represent a big chunk of the economy. neil: you know you mentioned the tech there too. susan, what is interesting i'm not saying tech is swimming looking easy as well now, it is way off, nasdaq 100 way, way off those lows when we were deep into bear market territory. we made up you know almost 2/3 of that ground lost. what do you make of that? >> yeah. i was looking at that exactly, that's right. this i would call it a rip from the bottom. so we're up 13% for the nasdaq

100 after an entering bear market territory and we know that investors, yes, they were trying to cash up when there was all the unknown about where ukraine and russia was going. neil: right. >> the fact we have these headlines this morning, neil, there might be de-escalation when it comes to kyiv and chernihiv in parts of ukraine, people have been rushing into buy. they have using cash or cash on the sidelines to buy the dip. to me that sounds very encouraging that there is still a lot of risk appetite out there. neil: you know apple caught a lot of people's attention not only because of resilience but the streak it is on going back a few weeks. every day is an advance. we'll see if that maintains itself here. apple is not alone. all these big names seem to be back in vogue. i wonder what you make of it, ray? >> you know we're out of the, you know we're basically out of the bear market territory. people are coming back into tech. the earnings are good.

the corporate earnings are there. if you look at ton of stocks, microsoft, apple, tesla, alphabet, n nvidia, especially amazon. apple is on 12-day winning streak. 13-day winning streak will be very different. >> $400 billion in market cap in 11 days, neil. that is a walmart in 11 sessions. neil: even with news things might stumble for them with what is going on in china, everywhere else, maybe ukraine, you know it is not being punished on that concern, right? >> no. it is a bellwether and you see that people are willing to buy the stocks in the companies that are able to weather this higher inflationary environment. pricing power is what we call it f they raise the iphone prices 1,000 bucks they will still sell 200 million of them n high inflationary environments companies like apple can raise

prices, people continue to buy. that is what we call pricing power. they get rewarded. neil: guys, i want to thank you all very much. we'll talk a little bit later what i think is a very seminal development on the fast-food front that says there is asking to this rally that bears watching. this is the commitment on the part of a major player to expand. that is what we call a tease. this is what we call a break 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 (vo) verizon business unlimited

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♪. neil: you know sometimes i think we overexamine these polls, like the one that says most americans are not really buying the fact that this is putin prices for gasoline. they will blame the president. just like things good in the economy they will credit the president, no matter who he is or she down the road. the biggest frustration with americans is high prices. yes, surprise, surprise, they are blaming the guy in charge.

peter doocy at the white house with more on that. peter. reporter: that's not all, neil. there are economic officials here at the white house already warning that because of inflation, because of a lot of different global events inflation might wind up being worse than they were banking on when they started drafting their budget proposal. >> challenges have also arisen since last november as well. the most obvious is russian invasion of ukraine. this may well-put upward pressure on energy and food prices. that in turn could reinforce inflation which was already an issue prior to the invasion due to the pandemic, supply chain constants and a strong demand for goods. reporter: and so that falls in line with what officials here have been trying to rebrand rising prices as, the putin price hike but only 6% of adults polled by nbc news are buying that. way more, 38%, are blaming inflation on president biden and his policies and republicans

believe that failing in the president's policy proposal is just a 4% increase in proposed pentagon spending. they wanted 5% and they think this offer opens the country up to a host of other problems. >> even under the administration's wildly, wildly optimistic projections about inflation their budget proposal would only flat fund our armed forces. in the best-case scenario, they want american defense to just tread water. reporter: of course this is just a proposal. it is completely unclear right now if democrats even have the votes in the senate to use special measures like reconciliation to pass this democratic offer. joe manchin said they are just starting to look at it a little while ago. neil? neil: peter, great job as always, my friend. peter doocy at the white house. the dow dramatically been paring

some of those gains. i try not to overanalyze this stuff minute by minute here. suffice it to say it's a tug-of-war, prices and what is happening in china mixed encouraging news in the ukraine front but to go beyond that to interpret a single event what is happening at the corner of wall and broad what be at best risky. we'll have more after this. ♪ and it's easy to get a quote at libertymutual.com so you only pay for what you need. isn't that right limu? limu? sorry, one sec. doug blows a whistle. [a vulture squawks.] oh boy. only pay for what you need. ♪liberty, liberty, liberty, liberty♪

♪. neil: all right. well will sorry cut it? right now we hope at least if you were a big will smith fan, will smith himself apologized for slapping chris rock, that that ends the matter. maybe not so fast. the academy is meeting tomorrow to discuss the issue, what punishment might be meted out for it. william la jeunesse following all of that from los angeles. william?

reporter: remember the saying it takes years to build a reputation and only seconds to ruin it? think twice you may do things differently? that was warren buffett. you know that. today will smith is living it. after assaulting chris rock following a joke about smith's wife jada who suffers from a medical condition which causes hair loss. here is the fallout, right? number one the actors union, sagaftra says the slapping was unacceptable. film academy slammed the assault. they could take away oscar, suspension, revocation of his membership. he could be banned from presenting award to next year's actress. lapd questioned chris rock, refused to press charges, stopping criminal charges. according to mmz, chris rock did not know she suffered from alopecia. she made a joke about the hair, not her medical condition. it was ad-libbed in the script.

will smith has not personally called or apologized to chris rock but posted this on instagram, quoting, jokes at my expense are part of the job but a joke about jada's medical condition was too much for me to bear and i reacted emotionally. i would like to publicly apologize to you, chris. i was out of line. i was wrong. i'm embraer rafsed that my actions were in the indicative the man i want to be. there is no place for violence in a world of love and kindness. you see mixed reactions. the academy doesn't condone violence but it did. smith was not kicked out for the assault. he got a standing ovation from his fellow actors. comedians fear smith said they set a new bar, it is free to storm the stage if you don't like the joke. some jokes are funny, offensive, depending on your point of view. both may have cross the line.

neil. neil: for chris rock, it dramatically upped interest in his comedy stand-up tour. tickets are flying faster than all get out. reporter: yes. i guess you can say the ratings improved for the oscar, not either one would endorse do doing, that do it for ratings purposes. it definitely brought a lot more eyeballs to the show. probably will next year as well. neil? neil: maybe if you and i staged something, william? i don't want you to hurt me, but we could look at that. reporter: there was, that is okay. there are questions out there it was staged. after you heard what will smith said afterwards, i think it has been put to bed it was not staged. back to you. neil: no, i definitely don't think it was staged, i agree with you. william, thank you very, very much. going to jason furman now, guys? okay, good. jason furman, former obama economic council chairman and

jason i came to talk to but the will smith issue and what you make of it. not that. not that. what do you make of the trouble the president is having right now, not only the economy, these polls and whether he is doing enough or whether he's dodging blame but the misspeaks and the cleanups from the white house to say this is what the president meant to say? i know this didn't happen as often with barack obama who you served but i'm beginning to wonder whether there is a pattern here that worries you? >> look, i mean i'm, i'm focused on economic policy, not, you know, foreign policy. certainly words matter a lot when you use them in foreign policy. it is important to get those words right but what i'm interested in, you know, what is his agenda going forward on the economy. neil: okay. i agree with you, that we should

focus on it but when the agenda sort of gets caught up in, who's to blame for the inflation situation, you call it the, putin inflation, part of that might be the case but when you disavow any connection to any of that and try to own only the good news, i get that, i'm only going to refer to highly rated shows, not lousy shows. hopefully your presence will make this a highly rated show but i'm blame you if it is not. but my point is, kidding to make a point, can he just say, all right, this is on me. the buck stops with me. i will try to control it, get this under control but just stop blaming? >> look, i think the truth is that gas price inflation mostly is due to the fact that president putin invaded ukraine and the set of events that fell out of that. everything else on gasoline

prices is tiny compared to that. neil: but this trend was going an, you know this trend was going on prior to the invasion? i'm not minimizing it at all jason. only -- go ahead. >> rest of the inflation would still be a problem even if it weren't for gas price inflation. absolutely, as i said i think on your show i think the american rescue plan has played a role in that inflation. i think the fed being behind the curve has played a role in that inflation. now what is most important what we're doing about it going forward. right now most of the answer is in the fed. i think he has appointed good people to the fed. those people are advancing through the confirmation process. we've seen jay powell really shift towards saying his main problem, our main problem as a country is inflation and he is exactly right, now he needs to do something about it. neil: so when you look at the economy and you see this, i've been arguing with a lot of people who take a look at this economy, i know they only see prism of politics.

i just look at the numbers, jason. this is a very strong underlying economy. you can call into question whether it lasts in the face of these higher prices. so far it is holding up remarkably well. having said that the '70s comparison i don't think ever bears light because jimmy carter didn't have this type of economy when everything hit the proverbial fan and i'm wondering whether that foundation is what ultimately saves this from getting much worse, or, or, what's happening now with these prices and everything does stick, it does gain traction, it does eventually bump into people looking to buy homes or refinance the ones they're in, it does impact their discretionary purchases when so much is squeezed out for higher fuel prices and then it catches up. where are you on this? >> look this is an economy where the glass is partly full and partly empty. the full part is 3.8% unemployment rate.

americans are talking in a pessimistic manner but they're not behaving in a pest must tick manner. neil: very good point. >> people feel great about the economy. they're out there, they're spending money, they're buying things but inflation is very unacceptably high. it's a real problem and it affects everyone. so, there is a good and a bad. i think if the fed can land this plane maybe they can bring the inflation down without ruining the other part of it but that gets more challenging to do that tricky plane landing by the day. neil: so only obvious question i have for you now, should they take will smith's oscar away? >> i really don't talk about controversial things like the president's pronouncements on. will smith, chris rock incident. neil: well-played. jason furman, former obama economic council chairman. great seeing you again. good sport on all of this.

we have a lot more coming up including the dow raising ahead right now but it is how the president is going to respond and take in what he has heard of these peace talks today. i don't even call them peace talks as much as just talks. they were talking, that is ukraine and russian officials in turkey. there was some advancement made here. we might hear from the president soon about what kind of advancement. this is remington.

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♪. neil: all right. trouble could be brewing for that morning cup of joe. see what i did there, trouble brewing, coffee? okay, fine. lydia hu on that in brooklyn. what's happening, lydia? is this the latest target now for higher prices? reporter: yes, that is exactly right, neil. it is really driven by the price of fertilizer, which we know is skyrocketing on the markets. just last week according to the crew index fertilizer prices hit an all time high. we're at a coffee shop and coffee roasting company here in brooklyn right now they're roasting some beans that come from peru. the owner tells me farmers in regions like peru, brazil,

mexico, coffee producing regions, farmers are having trouble high prices of fertilizer. they're considering buying less or organic alternatives that might make less coffee. so it is difficult to acquire the coffee beans. watch. >> a productive picked from mountaintops, carried down on their backs t goes through many processes before it gets to us here in the state. reporter: even before the spike in fertilizer prices coffee prices have been rising dramatically. they are up 10 1/2% over last year in the grocery stores across the country. that is driven by inflation that we're seeing. we talked to a number of coffee shops they're already hiking prices. even here at this coffee shop they had to raise the price by 25%. excuse me, 25 cents across the board. but that, neil, means the price for a cup of coffee is 9% higher already and those prices are

expected to increase even further. neil: but we do love our coffee, don't we? we'll pay the higher prices. the question is how long. lydia, thank you. ray wang, susan li, big coffee drinkers. i have no idea if they are. susan, would you put a limit how much you would pay for that morning cup of coffee? >> yes, absolutely, especially if my paycheck is shrinking with inflation. i tell you this, neil. we were talking about how prices are going up. we're looking at restaurants raising prices by 6% last year. that is the most in 40 yea as a result you're actually paying more for less. what we're calling "shrink-flation" in this economy. burger king is only giving eight nuggets instead of 10. how dare they. same thing with dominos as well. they're putting less chicken on pizzas you order. there is payment. you maybe not notice in terms of a dollar amount. you're getting less food for the actual check size. neil: all right. we already gave away the little thing i was going to tease into

here. >> sorry. neil: no, no it is not your fault at all, it's mine. but dairy queen is launching this new stack burger line, ray. these things look delicious. i think you can stack as many as five patties on a bubble. it looks delicious. it is veering away from just ice cream and blizzards. this is the first time it has done something this dramatic outside the main menu in decades. that has to be expressing confidence in americans appetite quite literally for this, what do you think? >> they have been expanding their, they have been expanding their growth over the last year. sales are improving and you know it's a four billion dollar market for them. the overall global burger market is 128 billion. we're launching a brand new line. no one has done that for decades this is a huge deal in the burger market. if you have the a-1 burger,

pretty good. >> you would actually eat that, five patties on one burger? neil: absolutely that would just be an opening act for me. susan you don't go to restaurants that don't have tassels on the menu, i understand that. americans i think they love their burgers and i think this is a shoutout to wendy's and mcdonald's, burger king, you better get your act together because here comes dq. >> that's right. other restaurants, correct me if i'm wrong, guys, i don't really eat food at fast-food restaurants, i can't afford the calories, to be honest -- neil: you weigh 80 pounds, what are you talking about. >> whoa. i've been told franchises are slimming down the menus because they can't afford to expand to give you more, that true? >> there is some of that. neil: i don't even know. do we have a price breakdown on this, ray? i didn't even check that. i guess i should have. it looks delicious.

i wasn't paying attention to that. what do you make of that, all the restaurants are on same, cost of beef is up, cost of cheese, all that stuff. so that will not come cheap? >> all ingredients are coming up in pricing. that is affecting it. what susan says about the value men use, if you stop in the drive-thru, prices are up. there are no more dollar menus or value packages. those are shrinking in general. it is also labor. tough to find the right labor. almost every single fast-food restaurant kiosks are using for service. order online or a mobile device through the app to save some time. they're trying to drive down costs as well as deliver. >> by the way avocado prices hit 24-year high. if you go to chipotle which raised menu prices 4% at end of last year, you're paying a lot more for the guac and chips. neil: i just hate it. guys, thank you very much.

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neil: we are waiting to hear from the president meeting with the prime minister of singapore, he is also trying to gauge a global reaction right now to how widespread even more additional sanctions could be on russia. this as talks ended between russia and ukraine. we are told they are not being rescheduled immediately but some

overtures on both countries part, that is partly why were up-to-date in the market. edward lawrence with more in the white house. >> we will hear from the president we are told he will take one question each from the foreign press as well as the american press with the prime minister of singapore, the president trying to clean up his message still for world leaders and he did not want regime change it was expressing outrage. the french president and manual mike rounds backed away and distanced himself from the comments with his media. macron and the other leaders, germany, italy and the united kingdom spoke to the president, president biden on a phone call today. after that call president biden met with the singapore and talked about ukraine. >> unprecedented challenges in the national order in large or small are equal in sovereignty.

>> as you mentioned we have one of the talks for peace in ukraine it is moved to turkey, the russian say they moved into a practical phase of the talks here. the russians adding that they will back off but he wants to see actions behind the words. >> i want our ukrainian partners to characterize with russia. there is what russia says and what russia does. >> he wants to see if it's meaningful. hearing about explosions and ukraine, some military experts say russia knows it is losing in their pulling back off of kyiv and positions in the ukrainians are maintaining that they will not give up any of their

territory and they will not stop there fighting for their country. back to you. neil: thank you for that, aishah hasnie in warsaw poland. that is one of the countries that is taking more share of refugees than half of 4 million tried to escape from ukraine eveready escaped. how are things looking there? >> afternoon to you, i got to talk with the mayor of warsaw toda tsalling on the global community to come up with a strategy to share the burden of refugees and he is warning if there is a second wave that the city will overwhelm. so far warsaw has taken 300,000 refugees since the start of the war last week, president biden pledged to taken 100,000 refugees, the mayor is great for for that gesture and he said

there has been a lack of global relocation planning, system and international strategy to move these people around europe and into the u.s. and why warsaw will continue to welcome and ukrainian refugees. he says conditions in the city will only deteriorate if leaders do not come up with a plan quickly. >> a second wave comes and we will be overwhelmed if organ to be assisted and help our friends. we need to show putin that we are strong and united and he will not establish this with another wave of refugees. >> that is the big thing we do want to see polling destabilized. the biden administration has pledged $1 billion in humanitarian aid but nonprofits on the ground are struggling right now to deliver what they already have two those inside of ukraine. the un calling for a cease-fire

saying we must guarantee safe passage for parties, we cannot deliver aid when the shelling continues and roads are mind. as american volunteers are telling us that they need help from the state department to expedite the movement of medical narcotics into ukraine. >> any type of opioid, painkillers, it is very difficult to get that across the board or because we are shipping narcotics across the border. we cannot walk across with all the paperwork, that takes weeks to get all the stuff taken care of. those relationships have not been created yet and we need to see that happen quicker. >> the bottom line this refugee crisis is far from over. according to my sources on the ground and the border towns they are seen 6 - 7000 people crossing daily. neil: thank you very much for that. be safe.

the reason why i mentioned the markets that have moved on the very fact that the talks resume between ukraine and russia. russia was offering going into them volunteering to drastically reduce, those are the russian foreign minister's words, airstrikes on kievan and trinidad. if that was it indeed the case this might be assigned a better constructive news to come. let's talk to harry for national interest in senior director. lieutenant colonel as well the defense. the significance of russia committing to verbally cut down on the airstrikes i don't know if that meant all airstrikes but significantly fewer. we have not gotten reports of anything that would fly in the face of that promise and other words we were noticing fewer strikes in both of these cities

going into the meeting and since the meeting, what you make of that. i certainly want to take every positive implication that we can get out of it. anything that reduces the suffering of the civilian people of ukraine is something i support. i think every time i have been on your show, that has to be the number one priority to get a negotiated settlement to get the killing to stop and we can work on the complicated issues later. at least from both sides after his temple meetings, they sounded a little bit more optimistic and they had a second round scheduled for tomorrow but apparently they had enough success they stopped in they are considering setting up a president to president meeting. i think that is positive and i sure hope that is the way continues going.

neil: if we see such a meeting between the two presidents, that is a game changer there. the details where they meet, how did they meet, how protected, et cetera, what do you make of that? >> it would be a game changer. i think we are a long way from that. i've been talking to people in kyiv and there is small fighting so it seems like things are definitely cooling down were not having major missile strikes in the area so that is good. also speaking to the senior commanders, they are afraid of an election tactic and move them to don bosque to focus on that part of the territory. they also want to try to continue mopping up and mariupol to grab that and build the lien bridge between crimea. i hope this is the end of the war but look at what the russians have done. they talk about kyiv negotiations and did you have to restart the position somewhere

else in the crisis continues on. i hope i am wrong though. neil: much has been made of the presidents. to clarify he is not calling for regime change. in and out of ukraine saying it would be hard to lift the sanctions on russia no matter how the war ends as long as vladimir putin is still running russia. in inherent regime change focus that the western world has. >> they may have the desire and i know a lot of people have the desire but i don't see any evidence i think it's very clear some sanctions will come up with this thing hitting shut down if

it continues on because of the sanctions. some of those are going to come off but i'm confident putin made himself a dramatic strategic loser no matter how this plays out tactically because a lot of the sanctions will not come off until he's out of power. neil: we are learning that russia built the parallel payment systems called mary that enabled it to run past the sanctions that were imposed after he invaded crimea. this is the same system that he used maybe even continue to used to not feel the pinch of the sanctions or not as much as you would think, what you make of that? >> i've heard the same thing but it will never replace the swift transaction system. the amount of sanctions are debilitating. i was talking to the senior wall street executive and there is a

growing consensus that russia is facing somewhere between $2.522.75 trillion in economic damage. as you know the russian economy like one point to five or $1.3 trillion, russia is not only into depression but they have been destroyed by sanctions. were knocking to see it just yet it'll take a couple of months and impact to hit. we were talking about regime change, washington in the world may not understand what was applied on russia but the fact economically. russia can find ways around it but it will not work. neil: i always argued you are the expert but i play one on tv and read a prompter so i think i qualify. let me get your thoughts on the russian people in the surest way for vladimir putin to back down is when they get riled up, they have not gotten to riled up but the economic hardships continue.

how much does that play when you see this working out. >> i know we would like to see that admitting in the west are desiring to see that play out. i don't think it will happen anytime in the foreseeable future. when you look at russia historically even the west had an all-out revolution in 1917 and it only came after they had years of losses and wars and 5 million troops lost and they have a high threshold for pain and so far most of the people in russia view this imposed from the west and nato and not a war of choice as we are saying that it really is. i know we like it but i don't see it happening anytime soon. >> harry gave me that question and i thought i should rethink it. here he did not do that at all. i want to thank you both very going much. you just don't know it's still

early productive talks today. we will watch it very, very closely. watching oil in and out of the 100-dollar-barrel this is another thing the war has taught us. we get used to new realities that the concept of oil over $100. that would double us in the past and lead to selling at the corner in broad now because $130 like i had been it's nowhere near $200 that we are nearing. it's a matter of time. we will take an bionic. more after this. ♪ (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique.

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neil: the dilemma when oil prices rocket, they're not rocketing as much as they were but they're still pricey a barrel of oil $103. it makes drilling more prohibited and more difficult and the receptive audience in washington not being so receptive it's a double wheel me for the oil industry, kelli o'grady seen it firsthand huntington beach california, what does it look like there? >> it is beautiful here, the

nice ocean but an oil rig behind me. the number of active oil rigs increases when prices rise because companies want to capitalize by investing but the new energy crisis that number is not increasing quickly enough to a range of dynamics with energy policy to supply change challenges for the last time oil was over $100 a barrel at thousand rigs were operational that was rising until the peaked at 1609 when prices were below $84.40 but now 531 rigs are in use many are blaming the disparity and energy policy, regulatory environment has oil companies questioning if they will go the same way as the keystone pipeline in the latest example the president is blaming storing gas prices on oil company greed and proposing for tax rigs for production that would drive production even further. also supply chain and labor challenges oil companies indicated they plan to be more financially responsible than pass boom cycles that will be

more reliance on foreign oil and the problems that come with it. >> we do not do it in the united states, that is not going to stop the consumption of oil and gas it will be offshore to places around the world that do not have the same environmental standards that the united states has it is bad economic and environmental policy to have uncertainty that this industry is facing. >> in of us are saying we could see prices remained as high or potentially into next summer. back to you. >> thank you very much, kelli o'grady, to dan one of the largest privately held oil services companies in the united states. kind enough to join us. it is kelley's right were to be looking at the higher prices for a while. i'm just wondering how that impacts what you do or want to

do? >> we want to drill more oil in texas or in north dakota and we want to increase production collectively but the administration policy has been a headwind as he discussed. we have the same kind of supply chain issues as everybody else. it took six weeks to get stuff from china, not three. were having a hard time getting consumables, labor shortages, fuel expenses up. buying new pickups is maddeningly fickle, much harder than you would think we have these host of challenges to face with. in addition the oil companies are focused on capital discipline, they do not want to get ahead as they were five or eight years ago. i think this is led to something like $8595 for oil prices and the sky is the limit though likely to head up, not down. neil: that makes it more prohibited even washington open the arms to your industry in the

drilling. and if prices stay where they are it is cost prohibitive, isn't it? >> it is hard i have had stories of trillion drilling rig that cannot get sand southern operating in his hard work. we are about 25% under staff from where we would like to be. then we order a dozen pickup trucks. we order a dozen were likely to get six. that's a real economy going on in the oil field and beyond and we cannot turn on a dime in the industry the oil price has skyrocketed but to add rigs is harder were waiting on the oil companies and supply chain issues. i do not see us being able to flip a switch like they seem to talk about in d.c. i also do not think i take offense to the fact that were price gouging or greedy i think were hard-working folks trying to make this happen in trying to produce energy and what comes

out slows us down and does not speed this up right now. >> it is one thing to say no one is going to thank you but it's another out of the blue when people say screw you. i do not get it but hang in there and let's see what happens. dan big into drilling. maybe in this environment a little degree of the business. when we come back, charlie gasparino has been looking at it the new york when a supple bond. that might sound not exactly riveting but it could be a telling sign for this recovery and by the way for new york itself. more after this. i'm so...

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neil: the market holding their own the dow about 96 points encouraged by development out of ukraine that they are trying not to get too ahead of themselves.

wall street is a dramatic comeback from what had been a deep market for technology stocks. we made up more than half of the ground since then rebuild the major averages have as well who knows that better than my next guest, the wall street legend. i bet a lot of you are more familiar with the state than the name. it is an iconic state a very handsome state. he has been in more newspapers and magazines and social media shots on any given wall street day when they talk about how the market did that day and it's no wondered he is featured the global ad campaign. he will ring the closing bell today. but what peter knows about markets he more than those about a strong heart he has been through living hell dealing with all sorts of things, covid,

problems and things that got worse and worse. he is a trooper even diseases are afraid of him. mom on the floor of exchange for this big day. how are you feeling? >> i'm feeling okay, thank you so much i really wanted to reach out to you and say how happy i am that you got to the miserable disease and back on the side. >> we both had some big scares. i don't know how it felt about me but i know it was afraid of you. all kidding aside, this is a significant day not only for you in the exchange but you think about the mocha enter market cycles in your iconic image in the most photographed wall street personality over these decades. do people stop you and say i know you? >> they absolutely do and that's the fun part. we are the last human

interaction marketplace in the world and that is so wonderful about the nyse we are still here more relevant than ever. we put people together with opportunities. you will look around the world and there is a lot of people interacting with the marketplace. that is the most attractive part for me. it's been that way since i came in 37 years ago on day one. i felt the energy in the adrenaline and this was a place for me thank god we are still that place. what an amazing opportunity when i was asked to participate in the global campaign because we are highlighting people an opportunity and were highlighting the human element that exists in the marketplace and still exist on the floor. neil: people forget that, i remember my younger days covering the floor it would be jampacked with people and elbowing to get around. but you still need the people

it's different for example and nasdaq and the other computer only sites what is the difference only? >> i think the time is so important. you would think technology is taking over 70 different industries so were not the only ones who have suffered from that beat off to the old lupa. the floor itself in the human element in the marketplace in the time of the volatility and having an human being at the point-of-purchase is the most important thing. would you want to get on a plane and go to the cockpit in the turbulence across the ocean and no one in the cockpit we are those in the cockpit. the market makers we are velvet and were all the more and relevant. kudos for spreading this extra time and effort to put this together and highlight globally that human beans are more relevant than ever and we are

still here in the history that is gone back. the floor does not back his people the way you did in the 20s, 30s, 70s and 80s. we are more relevant a time like this with volatility yet the markets are at an incredible state of excitement. neil: you are part of the difference. i'm just wondering what you and your friends on the floor think of the market. i was mentioning how much they have come back from the wartime lows. we are not out of the woods. one thing i've noticed your photographs. you still have the same luck you wouldn't know we were out of three freefall were running up with the band-aid. how do you keep your composure in a fast market condition like this? >> historically people who worked on the floor it's a different atmosphere then on the trading desk and people in m&a

upstairs people on the floor our people qualities make up the composition of people who thrive on the adrenaline often the chaos and the excitement. when i came down here that fit into my personality and we see that historically over the years with people who worked down here and have the qualities and temperament that can handle the excitement and chaos. we've seen it through covid and the financial crisis and the crash of 87 i been around for all of those things and we are the kind of people down here that will thrive and have a sense of quiet in the excitement and represent our customers to the best of our ability. right now what is so exciting. since covid we have a democratization of the trading community. tens of millions of new week young retail traders in the community who found excitement in this marketplace. for them to see the human being like myself and my patriots on

the floor and know there are people doing this not just the machine it brings them the level of excitement that's why they love interacting with me and i enjoy spreading the message of people, opportunity and the human element in the marketplace it is not just a bunch of technology and buttons that you are pushing that humans at the sale and it makes it so exciting. neil: good human beings. i have to ask a question when you are dealing with covid it was in a go. i had a feeling you never lost sight of what was going on on the floor and never lost sight or interest in how the markets were behaving? am i right? >> you are absolutely right i.e., dream and sleep this market. maybe it's not something that is so great but it's what i drive on it gets me up in the morning.

i was sitting there and we spoke a number of times and i was still sheltered in place and isolating at home. i recently went back and saw some of the videos in the first interview that you did with me when i got sick which meant so much to me. every day i would sit there and watch what goes on. it is still something that gets my attention and i find great hope and excitement. it is my life and i love it. as we know if you find something that you love to do you never work a day in your life. i'm lucky to have found that and that is a message that we share down here and it's a big part of my messaging. neil: i remember going to the floor and you were not there and i said to the hell with it, were gonna leave. congratulations to you. the one thing that bugs me i've known you for many years and you stayed thin and fit. tack on a few pounds.

>> i cannot do it. >> today on the closing 4:00 o'clock i'll be there with the participant of the commercial influencers from all over the world celebrating the new york stock exchange. neil: we look forward to that we will be showing the world the closing bell today. were you to go to the president? he is done. we are going to go to greater cachet, betty charlie gasparino. he had a close call but dodged it. i cannot tell you your battle with prostate cancer and the words that you had for metabolic ages check this out and be on top of it. my e-mails were going nuts. >> mind to and can is the big benefactor of nyu.

neil: you at the langone medical center, being treated there? >> in this era of beating up on wall street, let's be real clear. my doctors are great i'm not demeaning them and the reason why i am here is because of them. i mostly here because of kin, he need not place an amazing place donating hundreds of millions of dollars twisting arms to get others to donate and you know ken, he is very persuasive. ken has created home depot, he has funded countless companies. he has given people jobs. on top of that he has saved people's lives. we butted heads over the years and you know that you been in the real estate a few times amazing american in newark or. neil: we detachably talk about the iconic wall street figure.

his image is etched into people's minds whether you know him or not. he was saying about the passion that he has for wall street and how we function as a capital society. that drags you and your business and what you do. people do not know this about you when you were going through this you would e-mail me and i was thinking my god, this guy is nuts. but it's a passion that comes through. >> i wrote a column with a catheter in my you know what. it's a family show. >> i covered wall street municipal bonds. >> that was a great segment. peter daut stock and i cover the audit which is very unique

market. it is weird because the state and local government and a triple tax-free market, sometimes when treasury bonds fall, other bonds rise for some reason. particularly in states like new york city and states like new york and new york city, california, illinois, there are plenty of rich people and they like to tax having a triple tax free investment which you do not get from a stock as you know you have to pay capital gains and all the other stuff. here is something interesting going on. i have not heard this from the beginning of the pandemic. the pandemic was two years ago. there is a huge expert is 3 million people out of new york city at the time some of those people were new york city residents it takes a while to establish that pretty quick snapshot it could be the beginning of the trend remind me traders and bankers, they are

seeing a big increase in demand, the spread widening. yields are higher and their starting to widen off the treasury bonds and has a lot to do they believe not just with the supply but an issue of supply and demand in yields rise were seeing the trend with the people will love these places in new york city are safely in florida and for the residents. they do not need to buy new york city and new york state municipal debt. that is a big story if this is actually a trend and not a snapshot. new york city and new york state like all these other states are grappling to stay here and pay their taxes and fund their well welfare state. if this is going on this is due for new york city and new york state. new york city is flush with cash

from the federal government and the pandemic relief. that will end at some point. if you don't have people paying the bills, this is why you can't keep beating up on the fatcat to go to dinner you as a city in the state are screwed receiving the and the minutes of a bond moves. how do you like that transition i can't believe i actually came up with that. neil: you did, you been through hell of a lot the last week or two but you still got the stuff my friend. they are not fatcat they are calorically challenged. >> i'm just using that term, the first time i heard in years was like an old timer term. barack obama said it in 2010 in 60 minutes and he brought it back. it's calorically challenged the new politically correct way to

look at it. thank you, my friend. you live to be 120 and then some. are weakening go to the president? is he taking questions right now? he is done with his questions. all right he is done. we have a lot more coming up including the rollout of the president's budget that he hopes will be well received. were told by the republicans it is not going to happen, this is dead on arrival. is it? after this.

>> that was a nice one. i am out here. wow, will smith just smacked the [bleep] out of me. >> i'm not sure if you seen that clip because i haven't played that much but there it is.

now you know that will smith has apologized for all of that

stop treating jokes like a crimes. if we want to punish will smith properly you make them watch that show all over again. it was awful. neil: ratings went up

thereafter. i wonder if they will you thinkt should be. >> i think it will make everybody come next year end sit next to their ax, it's a most interesting thing that is ever happened to the oscars. think about the grammys right now. the grammys band kanye west from this week's ceremony because they thought he might do something weird. meanwhile will smith smacks a guy in the face and they give them a trophy that's all that anybody can talk about. my guess kanye comes to the grammys because they realize it's good for ratings and sodas hollywood. neil: they would not take will smith's oscar away, he wanted. i can't see them doing that and even if they did it would not erase the fact that he did win the oscar this year.

>> if we were going to take with the trophies from every person in hollywood who made a bad move that would be three oscar winners left the two cinematographers. one person who one for vacated . here's a newsflash hollywood is not a pillar of virtue and goodness. that was a running joke forever. we always knew the oscars were the lottery winners people the people who hit the genetic lottery that were so good-looking we recite words that were written by an ugly person that was a hunk of hollywood. these are the most gorgeous people that ever lived. >> that is a brilliant insight. i am curious wherever this goes. will smith in the bigger than life actors and actresses are their own brand. everybody loved him.

he is responsible in the big player of $9 billion in ticket revenue that go back from one blockbuster to another is that briand damaged or the core base of some admiration for what he did? >> i think on some level he will take three weeks - to a month to be the beloved clean wrapper will smith with box office gold but ultimately people have short-term memories. people still go to tom cruise movies after he jumped around on oprah's couch and that unforgivable ten years ago. if they like to show they like the show. the one thing i keep coming back to when he got up there and cried and said all the things that are asked of him in his life doing this career. i'd like you play pretend for $100 million of dollars, you did

not save the world of independence day, you pretended you did for hundreds of millions of dollars. he did not play the role? >> the reason it is called best actor. >> i was waiting in eager to hear your take, brilliant. thank you very much. i'm getting go to your next event and be nasty and throw things at you and see what you do. great to see you. much, much more but a good read on what is important in real life. we will have more after this. ify managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different.

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neil: a brief moment where the yield on the two-year clips the ten year treasury. normally when that adverse like that and we see it in 30 years it's getting very, very close. it's a slowdown or recession, there has been more yield inversions than recessions of course. i will say this every recession you can look back and find there was an inversion. that's why gets a lot of attention and people say what is down the pike. from this we can glean the possibility that we slowdown or

worst have a recession. the markets are dismissing because a lot of that has been unwound. there is a separate school of how long it lasts and we just do not know. more after this. matching your job description. visit indeed.com/hire . .

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♪. neil: all right. at the moment the yield curve puts it into perspective but our own charlie brady, our stocks editor, our treasury note editor if you will, shorter term

securities yield less than longer term securities. but when something like this is a two year is yielding 2.45%, a 10-year about 2.38%, the curve is inverted. it happened many, many times. not every time produce as recession but every recession, if you go back and look at it produced this phenomenon. now whether it holds, how long it holds that is another great debate but it did invert today. but a lot of folks are worried about it. not too worried. i don't think charles payne is panicking. charles: i will try to keep everyone calm, neil. but that is a huge red flag. thank you, my friend. neil: you got it, buddy. charles: good afternoon, i'm charles payne this is "making money." we're own cusp of a major, major breakout. skeptics dig nor and dismiss this move might have happened today. initial hopes of peace in ukraine faded but we're seeing