raise rates not provide any forward guidance. >> your thoughts. >> former colleagues in congress, be smart it is important to conduct oversight a lot of answers a lot of americans are looking for a push for new regulations new laws can overshoot target make things worse, history can repeat itself with what we saw after the crisis 14, 15 years ago, so i am glad continuation focused on it but the they have to act smart. >> called warren buffett like lehman disaster. >> we talked beforehand so many things going on have a context, you know banks, storm clouds, war on the horizon, all different issues, that yet going to do this thing with trump? >> indict trump tomorrow? two standards of justice stuart: good morning, maria, good morning, everyone. question of the day. is the banking crisis over?

answer? at this point, no. high anxiety still rumbling through the financial markets here we go. ubs in a forced marriage with the very troubled credit suisse. the stock of credit suisse continues to fall. ubs though staging a small re bound after huge losses earlier this morning . some regional banks at home under more pressure. this is where the trouble began two weeks ago. first republic is down another 18% but we've got a turnaround in some of the others. pac west, they were all lower at the start of the trading, at the start of the day earlier this morning. now they've bounced back just a little. no sign of real panic this monday morning. but just an awful lot of anxiety we've got a flight-to-safety, obvious again today, the yield on the 10-year treasury has just in the last few minutes started back up, earl kyrie irving this morning it was at 3:33 if you can believe that now it bounced back to 4.43 still a very low yield. i have to believe that mortgage

rates will come down based on the 10-year treasury yield and look at the two-year now tried trading at 3.85% the two-year gone up 3.87%. there's real extraordinary moves in the bond market recently. the likes of which none of us have seen in a very long time. all right, that's the interest rate flight-for-safety. gold is also moving up that is a flight-for-safety, earlier this morning it cracked $2,000, now it's $1,996. almost there. bitcoin rallying, $28, 300 per coin, is that a flight-for-safety? maybe it is because its moved up significantly. i think it's up 60% this year, probably up something like 20% in the last week, how about that stocks higher this morning. they started out way, way down earlier. now, we've got a modest bounce, dow is up 90, s&p up 8, nasdaq

up 9 points this is pre-market trading. today, a lot will depend heavily on what investors think the fed will do with interest rates this week. there is now a 30% chance there is no rate hike at all that be a fed pause. talk about times are changing. dow up 80, nasdaq up what have we got six points now, all over the place. check the price of oil. that's important. we have the price down to $66 per barrel today. i repeat my prediction that the price of gas will come down this week. all right, you waited for it here it is politics. dominatedded by donald trump's assertion that will he will be arrested tomorrow for alleged involves in hush money payments many years ago. new york da is pushing for an indictment but he's done nothing about the surge in violence in the city but wants to charge a former president and current presidential candidate, sure looks political to me. earlier this morning china's xi-jinping arrived in moscow for his three-day state visit.

what help will he give to the struggling russian army and ukraine? if he gives them weapons to kill children in ukraine, what will we do? the new world order takes shape. in miami, a curfew after two people were killed in spring break violence. we'll take you to florida to see what's going on there now. yes it is another busy week in money and politics and we will cover it all. monday, march 20, 2023. "varney" & company is about to begin. ♪ why do you build me up, butter cup baby ♪ stuart: i kind of like this. lauren: i like it, i do. stuart: there you go. all right, folks, the banking crisis is still with us this morning. ubs has agreed to buy credit suisse, the authorities are

trying to bring confidence back to the global banking system on your screens, america's big banks doing okay. lauren: yeah. stuart: take us through the whole thing lauren. lauren: i'm calling it a shot gun wedding arranged by the swiss national bank, resulting in ubs buying credit suspect for $3.2 billion. that's less than half of what credit suisse was worth on friday. you could say they got a deal of a lifetime. the swiss government is providing $9 billion to backstop some losses for ubs and more than $100 billion of liquidity, a lifeline to sure up confidence. is it working? is there confidence in global markets this morning? well, some credit suisse bond holders completely wiped out that's $17 billion worth, now valued at zero, and the other thing is, why are the swiss providing so much liquidity here how bad is the state of affairs? maybe in europe, not here. this gets us to the fed. they wrap up their meeting on

wednesday. goldman sachs says they will pause. no interest rate increase because my opinion, the new data point that the fed is looking at is the price of the banking stocks. stuart: okay, and there's a 30% chance they do nothing. 70% chance they go up 25 basis points. that's the federal reserve. lauren: right. stuart: check futures as of right now. looking to the upside. complete reversal of what we saw maybe an hour ago, dow up maybe 100 points at the opening bell. jeff sica with us. jeff believes this is all the feds fault. you've been saying that on this program. what do you think jay powell will do now? >> i've become the fed barber on the show. i think to quote a tired cliche, and a 1989 rolling stones song, they are between a rock and a hard place. no matter what they do, first of all no matter what they do, i think it's going to be the wrong thing to do because their track record shows that they are completely incompetent in making the right decisions, so if they raise rates as lauren said,

there's a 70% likelihood they will raise rates. if they raise rates, then they run the risk of setting the bank declines into motion, so raising rates could accelerate the banking crisis. if they do not raise rates, then they could be accused of not doing enough for inflation because keep in mind, stuart, we have right now, very high historically high inflation. they have a 2% target on inflation. they're not near that, so they are really at a point now that they have to make a decision and the decision will probably be stupid. stuart: [laughter] whichever way they go. >> yes. stuart: all right, jeff. i see where you're coming from. thanks very much indeed. busy day let's move on. look at the yield on the 10-year treasury now it's 3.42% all over

the place today. all right the other big story of the day is former president trump warning that he could be arrested tomorrow. why does trump but that will happen? lauren: it's over an alleged $130,000 payment to the adult film star stormy daniels, trump 's ex-attorney michael cohen says he fronted the money and he was reimbursed by trump to quiet the affair, leading up to the 2016 election. we are going back certain years. trump denies all of this abdomen attacks the new york district attorney alvin brag on his social media while also calling for protests. i'll read the truth social post. now illegal leaks from a corrupt and highly political manhattan d. a.'s office has which allowed new records to be set in violent crime and whose leader is funded by george soros indicate that with no crime being able to be proven and based on an old and fully debunked by numerous other prosecutors, fairytale, the leading republican candidate and former president will be

arrested on tuesday. protests take back our nation. so brag is resurrecting a seven-year-old case dismissed by the department of justice, dismissed by the federal elections committee. the expectation is that trump will be charged with falsifying business records that bumps up a misdemeanor to a felony offense by framing it as an improper campaign donation and in violation of new york state law. stuart: that's a setup. all right, thanks lauren. senator mark keller is a democrat senator from arizona warning about the potential repercussions if trump is arrested. watch this. >> i think it's very important for the manhattan d. a. to look into this thoroughly. i would hope if they brought charges they have a strong case, because this is as you said it's unprecedented, and you know there's certainly risks involved here. stuart: charlie hurt joins us this monday morning. i'm going to editorialize. this looks like a political charge inspired by raw trump

hatred. what do you say? >> oh, i think you're exactly right about that, and of course, it comes on the heels of six years of democrats in washington and around the country, just completely making up these stories, and pursuing trump based on their absolute hatred for him and as you pointed out in the setup, the levels of hypocrisy are kind of astonishing. not only does this happen with the backdrop of alvin brag overseeing one of the largest spikes in violent crime that new york has ever seen in history. he's busy pursuing a political jihad like this it's insane. another problem is let's just assume for a second that all of this is true, although i don't assume anything with these people anymore, but let's just assume it's all true. we're talking about a campaign finance violation. nobody gets charged with campaign finance violations let alone sent to jail. every politician whose ever run a campaign has been guilty of

violating campaign finance. the reason you keep your campaign accounts open for a year after the end of the campaign is so they can correct all of the campaign finance violations, and then the third thing is when you compare this to some of the charges that are being levied very serious charges against the biden family it really looks ridiculous. these people look ridiculous and in the end it helps donald trump stuart: oh, very interesting. charlie thanks very much for being with us on a monday morning very important day. >> thank you. stuart: now this. oh, elon musk. have to be somewhere sharing his thoughts on a possible trump arrest. what's he got to say? lauren: exactly what charlie said that this helps donald trump. he tweeted if this happens, if trump is arrested, trump will be reelectedded in a landslide victory, meaning the public is going to see this as politically motivated. i just want to point out that musk did reinstate trump on

twitter. i forgot it was in november. trump hasn't used twitter yet. stuart: he's still doing truth social. got it. thank you, lauren. democrat senator mark kelly is breaking with fellow democrats on the border issue. roll tape. >> it's a crisis. its been a crisis on the southern border for years, not just during this administration. stuart: well, he says it's a crisis and he didn't end there. we'll tell you what else he had to say too. xi-jinping has landed in moscow meeting with putin today. is china a rival or flat-out enemy. i'll put that to scott perry, he's next. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach

can help you build the future you imagine. with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel. i'm a big advocate of recommending things that i know work. ♪ ♪ get $1500 purchase allowance on a 2023 cadillac xt5 and xt6. ♪ visit your local cadillac dealer today.

- double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future.

- are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. to finally lose 80 pounds and keep it off with golo

is amazing. i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music)

stuart: talk about a turnaround. first thing this morning there are still worries about the banking system. there are still worries going on right now but the dow has responded with a 100-point gain. that's pre-market, how we close? no clue. china's xi-jinping landed in moscow to meet russia's putin. edward lawrence. do we have any headlines from the meeting yet? reporter: not as of yet. the two will meet later on tonight in russia. it's a few hours from now, so they will actually have that face-to-face meeting. chinese presidentxi the first world leader to meet, issued an arrest warrant for him with a lot of pomp and circumstance on the tarmac in moscow when the chinese president arrived. the russian president wants china to be more involved by providing military aid in the war against ukraine a move president joe biden and everyone in his administration urged china not to do. now the fact for senator chris van holland is as long as the u.s. remains a world

leader of the free world i should say, china will be looking for a way to undermine that. >> china is very nervous about the fact that nato is united and we're united with our asian democratic partners and have a front against authoritarianism, and xi is of course watching very carefully what happens in ukraine. reporter: the chinese foreign minister says this trip offers a chance to deepen the no-limits friendship between the two countries. now some chinese experts say it's in china's best interest to continue the invasion of ukraine listen to this. >> they are frenemies the russians and the chinese are frenemies and the russians have taken off all their front line troops off china a year and a half ago to prepare for this and it behooves the chinese to elongate this war because it takes the pressure off them. it's the law of thermal dynamics the heat on you equals heat off of me.

reporter: now spokes spokesperson john kirby says if a cease-fire message comes out of the meeting the ukrainians should refuse because it only helps russia setup for a spring offensive and solidify what they have, stu. stuart: edward, thank you very much in need. the former national security advisor is weighing in on china 's support of russia watch this. >> i think what you'll see in the coming days and weeks is more and more evidence of chinese support. china don't want to get caught doing this because at the same time they are helping the russians murder ukrainians they are saying china is open for business and trying to appeal to american and other investors to continue to prop up their model, even as they commit genocide. stuart: scott perry joins us, the chair of the house freedom caucus. congressman thanks for being with us. is china now a rival or an enemy? >> well, china class called the united states an enemy for

some time. now, got to make the differentiation between the chinese people and the communist party of china but i think it's very clear, the communist party of china which is essentially a criminal organization running a country has called the united states of america an enemy for some time now and i think that america needs to just acknowledge that fact and start getting to the business of dealing with them as though they are an enemy because they, indeed, are. stuart: if after this meeting, xi-jinping and putin, if after the meeting, we find out somehow or other that china is sending "lethal weapons" into ukraine, which would kill ukrainian children what should we do? >> look, we should be taking all measures right now, at least to parity so what's parity? of all of the things we let the chinese communist do in america should be what they allow us to do in china, yet they don't, so look. we ought to even the playing field and just say look this is not good enough for the chinese

communist party, then it's not good for america, so we're not going to allow you to participate in our financial markets. we're not going to allow you to continue to buy up our businesses and farmland. we won't continue to allow you to send all your students here and your intellectual talent to steal our intelectual property. these are some pretty simple and basic things and concepts that all americans understand. what's good for the goose is good for the gander and if they are going to play like this then we'll have to have something to say about it but more importantly something to do about it. stuart: okay, congressman, you are the chair of the house freedom caucus, very important position. the white house has just come out slamming your budget plan. not their own budget plan but your budget plan. they claim it would hurt border security, so would you like to respond to that? >> [laughter] well first of all, let's remind everybody that the president is at least 30 days late on his budget proposal number one.

number two, having the president lecture anybody in america about the border is like having an arsonist lecture you on fire prevention. since he took office more people have come across the border illegally than the basis point and the trump administration combined and during that period of time nothing since he became president, nothing has changed in the law. nothing has changed in the resolve of our border patrol they still want to do their job. what has changed is president biden's failure and refusal to follow our laws and his secretary, secretary mayorkas willing to aid the largest human trafficking, drug smuggling, fentanyl american-killing operation in american history, and so please, mr. president, let's get serious about what's happening here. let's stop with the fear and smear and let's get down to fixing the problems that all americans have including the fact that they can afford groceries or gasoline. stuart: scott perry, chair of the house freedom caucus.

sir thanks for joining us this morning much appreciated. thanks very much. >> thank you so much. stuart: former president of taiwan is going to lead a delegation to china next week. why is the former leader of taiwan going to a country which invades taiwan? lauren: maybe to warm relations. former president was president from 2008-2016. things were a little bit better then, right? he's now leading this delegation for nearly two weeks to china. it starts one week from today. nothing on the calendar for him to meet with xi, but he's going to be there, and it also coincides with taiwan's current president visiting the u.s. and likely meeting with speaker mccarthy on her way to latin america making a stop with the republican leadership. stuart: smooth it down here and down there, if you can. all right, look at futures, please, because the opening bell is coming up and i see a little bit of green and a very interesting day, dow up 80, nasdaq down 11.

the opening bell is next. ♪ we'll be coming back for you one-day ♪

(man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar, and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro lost up to 25 pounds. mounjaro is not for people with type 1 diabetes or children. don't take mounjaro, if you're allergic to it, you or your family have medullary thyroid cancer, or multiple endocrine neoplasia syndrome type 2. stop mounjaro, and call your doctor right away, if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, vision changes, or diabetic retinopathy. serious side effects may include pancreatitis and gallbladder problems. taking mounjaro with sulfonylurea or insulin raises low blood sugar risk. tell your doctor if you're nursing, pregnant, or plan to be.

side effects include nausea, vomiting, and diarrhea which can cause dehydration and may worsen kidney problems. (woman) i can do diabetes differently with mounjaro. (avo) ask your doctor about once-weekly mounjaro. ♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ♪ ♪

luxury exemplified. innovation electrified. with apple music seamlessly integrated. the all-new, all-electric eqs suv from mercedes-benz. see your dealer for exceptional offers on mercedes-benz electric vehicles. the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours.

stuart: on the futures market, well we see again, it's a mixed picture isn't it? look at that the dow is up 90, nasdaq is down 17. you could expect volatility when the banking crisis continues and it still hasn't really wound down, at all. it's with us this morning. keith is with us, keith fitz-gerald that be. i want to know what's your advice to the retail investor in a situation like this. sit on your hands and do nothing what do you do? >> well actually, doing nothing is something, stuart. i think right now the most important thing to do is take a deep breath and concentrate on those themes that are hiding in plain sight that are going to change our world because many of the household names people have counted on in the past are simply not going to make the transition. they are dangerous stocks to own stuart: i want to know safe haven. you tell me, is big tech a safe haven? >> surprisingly, certain big tech is, and i would make the case for example when it comes to ai, nvidia and microsoft, are at the top but not surprisingly, perhaps, amd is right in there

because you've got to cover where the world is going, data sets, chips, none of that can happen without those three companies specifically. stuart: how about gold? >> you know, it's an interesting one. gold will be hedged against the dollar. it's not necessarily hedged against inflation like it's billed in late night tv commercials for back of a better description. it is something i believe every investor should own at the moment. stuart: gold mining shares, gld, the etf or actual gold coins? >> i think gold the asset, not the mining shares, because they face many of the same inflationary challenges that conventional businesses do. their cost of labor, supply chains, all of those things are going up. it's harder to get the gold out of the ground. i prix ferricks to deal with the stuff already out. stuart: we may be missing a safe haven that be bitcoin. i noticed that bitcoin has gone straight up in the last what, two weeks? we're looking at $28,000 per coin as of this morning. do you think it's a safe haven? >> i think don't it's a safe

haven per se as we use that term traditionally. i think it's an interesting play much of the volatility that's fear-based has shifted back into it but the potential for manipulation still remains extremely high. the ftx situation has not even gotten to court yet and that will come clear when all of the depositions hit. stuart: real fast. what happens to the market if on wednesday afternoon, jay powell announces a 25 basis point rate hike? what happened? >> rate hike, that's absolutely baked into the cake already, but on the other hand if he announce s a pause or pivot it's going to be a rip your faceoff rally. stuart: rip your faceoff rally if he does nothing. >> [opening bell ringing] stuart: all right, keith we'll cross that bridge when we get to it. thanks. >> yes, we will. stuart: that is the opening bell , clapping and cheering and we're off and running and we've opened up this monday morning,

directly opposite from where we were say two hours ago. the markets up, dow is up about 8 # points and the vast majority of the dow 30 are in the green this morning. how about the s&p 500. where is that in the early going , it is up just a fraction, and the nasdaq composite where is that today? it is down a fraction. no clear trend. how about big tech look at them across-the-board. meta, apple up, microsoft, amazon, alphabet down. no huge price movements at this point. let's get back to ubs buying credit suisse. lauren: you say it so well! stuart: i don't know, but tell me, if you can. what's the relevance of credit suisse and "the situation" there to america's banks? >> it's about cop taejon especially when you wipe out stock and bond holders so $3.3 billion is the price tag which is a lot less than the almost $8 billion that credit suisse was worth on

friday, and that $3 billion price tag by the way was also bigger than the initial offer of just $1 billion from ubs, so this is what we call a forced banking marriage by the swiss government really forced banking deal. the first one we've seen since 2008 and in this deal, the swiss authorities will also kick in $9 billion on top of that $3 billion price tag to make sure that you b is and their cost to close this deal gets covered also $100 billion credit line just in case they needed some more cash, but this banking merger creates a giant $1.6 trillion balance sheet at ubs and that's as big as goldman sachs and deutsche bank. also think of jobs as well, especially jobs here on wall street because ubs will likely get rid of and spin-out that investment banking, you know, credit suisse has already said they would cut 9,000 jobs over the next three years and you can imagine that process will be rushed and sped up. ubs shares have now reversed and we're looking at the banking stocks also gaining as well and

costs to ensure this is what we call credit default swaps on bankruptcy because the forced merger of ubs now at the highest for ubs since 2008. stuart: okay that's over there. how about over here, can you check the regional banks for us, please, because that's where the trouble started. >> it's all up and up, look at that, up close to 20% so first republic is still down because you heard also from s&p another credit downgrade, already a junk status but levels below that, so you're really putting your money at risk according to s&p and that's despite the $30 billion group deposit from the 11 big lenders, also morgan stanley reiterating under weight on first republic but pac west re couping that 60% losses and why are the stocks up? because of elizabeth warren and she wants the fdic to increase the deposit insurance from $250,000, so that's more implicit guarantees of possible more government help for banking stocks. also this weekend, you heard

about the biden administration talking to the oracle of omaha, warren buffett on the banking crisis. apparently several regional private jets from the ceo's have been seen being landing in omaha and remember warren buffett he provided that backstop and the cash during the 2008 financial crisis, got really cheap warrant s in the process at bank of america and goldman sachs. stuart: yes, he did. >> he's made four times off that investment of $5 billion investment is worth at least 20 or $30 billion. and that's what he's doing. stuart: you're our crypto lady. tell me about bitcoin because it's at a nine-month high. >> yeah, so better than being something else i guess so $28,000 now, for bitcoin. stuart: we're not going there. >> we haven't seen these levels since june of last year and that's $26 billion added in this rally. by the way you're talking about gold. gold is only up 9%. bitcoin is up 70% so far this year, and it's a hedge away for the banking system and the chaos and what it's supposed to be, which is to be a hedge around sovereign risk and debt.

stuart: and i'm the guy who called bitcoin a gambling chip. i missed that. >> i'd still say buyer beware and don't forget that bitcoin is held by 67% of the bitcoin in these haven't moved for the past year and it hasn't sunk despite the ftx collapse. stuart: you see the dow now up 220 points, which brings me to the next item. morgan stanley. >> yes. stuart: very optimistic on the market aren't they? >> i wouldn't say optimistic, but i would say less bearish and that sounds positive. we'll put a positive spin to this. you have to listen to morgan stanley because they had the number one strategist last year, mike wilson, who correctly called that bear market in 2022 and he says with all of the banking stress and the collapses we're seeing we might be near the end of the bear market. now there's still a ways to go. earnings will disappoint or earnings estimates need to be cut but he recommends right now actually getting and buying into these defensive low beta sectors so i'd imagine oil and defense be in there as well, and he does

caution against buying the mega cap tech names like microsoft and apple which has been seen as a safe haven play now, i mean if you look at the stocks on these technology stocks, the only green you're seeing are in these technology names. last week, despite the collapse of silicon valley bank, we had the best week for the nasdaq 100 since november last year, so all of a sudden, these companies that have a large balance sheet, that have guaranteed earnings and profits are now a safety play. stuart: i'm trying to characterize the banking crisis. can i say that as of this monday morning, at this moment, it's cooling down a little? >> well i would say it's a little bit more contained how about that? i don't know if you check the fed funds futures. i just checked in terms of what the federal reserve is going to do on wednesday. 65% of the market expects only a quarter point hike from the fed. stuart: and the rest think it's going to be nothing at all. >> that's right. so 40% think it's nothing 65% thinks it's a quarter point.

zero thinks it's 50 basis points you know, two weeks ago i would say probably 70 per%% were banking on a hike, so getting relaxation from the federal reserve and the federal government. stuart: we just got to follow it second to second. >> but also expect because of the banking collapse that there might be contagion. i was looking at one note that said 190 banks might be at risk now because of higher rates, you know, they are following asset values that they might be, there might be more contagion to come. this might not be the end of it. stuart: it ain't over. we'll agree on that one, thank you, susan. good stuff. the big board now we've got six minutes worth of business under our belt on a monday morning and we're back to the 32000 level. dow winners coming up with a check of that. where are we number one is caterpillar up 1.5%, merck down, goldman, ibm all on the list. s&p 500 winners whose the top of the list? it is zion bancorp, one of the

regional banks that was in big trouble last week. >> co america is on that list as well. stuart: fifth third was another one under pressure. nasdaq composite winners, asm holdings. gillead sciences, honeywell international, not very interesting bunch right there. coming up, not very interesting in my opinion. spring break-in miami turns deadly. two shootings there over the weekend, officials have now imposed a curfew. we'll tell you what's going on there this monday morning. the homeless crisis worsening in los angeles. that's hurting home values, obviously. million dollar listing star josh altman joins me later in the show. senator elizabeth warren wants the fed to stop raising rates. roll it. >> i've been in the camp for a long time. these extraordinary rate increases that he has taken on, these extreme rate increases are something that he should not be

doing. stuart: all right clear cut opinion there. stephen moore might be in the strange situation of agreeing with a socialist senator. stephen is next. ♪ ♪ there are some things that go better... together. hey! like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. for a brighter financial future. thanks. ahh, pretzel and mustard... another great combo.

voya. well planned. well invested. well protected. this small thing, is the next big thing in dia this s woah.hing, it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way. i wanna make you go wow, make you go wow, make you go wow.

century lithium is advancing their clayton valley project towards production, with the goal of becoming a domestic lithium producer for the growing electric vehicle market. nevada's lithium is the key to america's green future. century lithium if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee.

all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. stuart: on the markets this morning 12 minutes into the session on a monday morning the dow is up 200 the nasdaq is down 30, a mixed picture. now listen to what senator elizabeth warren says about rate hikes. roll it. >> i do not think he should raise rates but look. i want a full disclosure here, i've been in the camp for a long time that these extraordinary rate increases that he has taken on, these extreme rate increases are something that he should not be doing. they are trying to, in effect,

slow down the economy so that this is by the fed's own estimate, 2 million people will lose their job. that is not what the chair of the federal reserve should be doing. stuart: okay. stephen moore is with us. you know, steve? i think you're in the unusual situation of actually agreeing with senator elizabeth warren, aren't you? >> boy that's a mean accusation there, stuart. stuart: [laughter] >> but look, first of all, what caused this crisis, as you know, i said this last week on your show, was the massive $6 trillion of spending. it was really the first domino to fall that forced the fed to raise interest rates, that led to the higher inflation, and that is put the fed in this incredible predicament. now she's got a lot of nerve though to blame the fed for this crisis when of the six last trillion dollar or more spending bills that i just checked this this morning. do you know how many of the bills she voted for stuart? stuart: all of them presumably.

>> every single one of them, exactly so this is outrageous for her to blame the fed on a problem really caused by the biden administration and congress. now, in terms of where we are right now, and rate hikes, you know, i have some reservations about raising rates more. we're getting these conflicting signals right now on inflation. the inflation rate has come down from 9.2% to 6%. its headed in the right direction. look what's happening to commodities prices, stuart? as you know, i was nominated by trump to be on the federal reserve board. one of the things i look most closely at is commodities prices that have been falling over the last several months which is not consistent with the higher inflation number. on the other hand, stuart, the gold price has been rising and so we're getting these kind of conflicting signals. i believe the most important job though of the federal reserve right now is to get that inflation rate down from 6% to much closer to 2% target.

stuart: okay, i've got 30 seconds. if push comes to shove and this banking crisis really gets out of hand like 2008, should we bail out or should we let them crash? you got 30 seconds. >> i hate bail-outs. i despise bail-outs and i think the best reaction from washington is to get this fiscal house in order. stop borrowing $2 trillion a year. we're going to have a whole series of financial crisis in this country. stuart: but you realize which politician can say no bailout. let it crash. no politician, we'll say that will they? >> well, i mean, they are going to ruin our economy. we are based on a free enterprise system and i do believe, by the way, in deposit insurance, but not bailing out the investors who made bad decisions and the banks made bad decisions. stuart: that is fair enough. stephen thank you very much for being with us. very important day, we're glad you're here. more from senator warren. she went right after fed chair

jay powell. does she want him removed? lauren: yup. he should be fired, she says, and not be chair of the fed. it's a very powerful sound bite she says she is on many of the sunday shows yesterday. she doesn't talk really about him missing inflation. she talks about him being dangerous, as we've heard before , for loosening bank restrictions. she said he threw a fire torch on the bank regulations and that's why we're in this mess. stuart: you can't get rid of him just like that. it's just out of the question. lauren: no. stuart: inflation. wait for it. this is hitting mcdonald's big m ac. how much more does it cost now than before? lauren: it's different in every state but the average price is $ 5.15 up 22% since 2019, before covid. that's a war on working class families right? for everybody really but it's the working class people that feel it the most at 22% increase the cheapest big mac, mississippi, 3.91. that's pretty good.

stuart: that's a bargain. lauren: most expensive is hawaii at 5.31 new jersey is 5.19. stuart: well me about it. the president of mexico says the fentanyl crisis in america is a result of the lack of love and the deterioration of values within our american families. yes, we will take that on. the potential arrest of donald trump setting off a political firestorm on capitol hill. we'll have a report on that, next. ♪

knowing where you came from, it gives you a sense of “this is who i am”.

oh my goodness... wow, look at all those! you get hungry for more and then you're just like, “wow, i'm learning about my family.” yeah, yep. which one, what'd you find? lorraine banks, look, county of macomb, michigan? look at grandma... hey grandma! unbelievable. everybody deserves to know who they are and where they came from. ohhh...cool. this whole journey has been such a huge gift for our family. everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once.

every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years,

and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. stuart: it is happening right now. xi-jinping is meeting with vladimir putin in moscow. got some headlines for you. putin says china has made a great leap forward. isn't that what they were saying in 1960? putin says we are open for negotiating process on ukraine. okay. putin tells xi-jinping, i believe under your leadership, china will further develop. putin calls xi his dear friend. those are his words and putin says in china, you've been able to make the state stronger. we are slightly envious of china 's swift development.

putin obviously needs xi-jinping badly and what he can deliver. got it. former president trump says he will be arrested tomorrow. that's got capitol hill buzzing. grady trimble is there. what's speaker mccarthy saying about this possible indictment of trump? reporter: stu, speaker mccarthy is calling into question the progressive district attorney whose investigating former president trump. >> this is the weakest case out there. trying to make a misdemeanor a felony, the timeline doesn't work because it's too long passed, and doing it after a person for political purposes. i think this d. a. is different than all the others. reporter: mccarthy adds he's directing house committees to investigate manhattan d. a. alvin brag's office and whether brag is using federal money for the investigation. mccarthy says as early as today, we can expect to see action from congressman jim jordan. he's chair of the subcommittee

on the weaponization of the federal government. he could call for brag and staff members to testify on the hill. already though, democrats are pushing back. >> instead of the house majority focusing on the economy , focusing on inflation, focusing on job creation, focusing on healthcare , they continue to pedal conspiracy theories led by the so-called weaponization committee. reporter: and back to speaker mccarthy. he's telling people not to protest, stu, if this arrest happens like former president trump is predicting. stuart: all right sorry, grady. we've got it. just looking at the market. let me refer to the market because we just got another leg up. the dow industrials now up 330 points but the nasdaq is down 40 split market, very confusing. now still ahead, jason chaffetz will join us, kt mcfarland, steve forbes, florida

congressman greg stubey, we've got a lot going on. 10:00 hour is next. you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on

purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. . . that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. - [announcer] if you're 62 or older and own your home,

you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-free cash in your pocket. call the number on your screen. - why don't you call aag... and find out what a reverse mortgage can mean for you? - [announcer] call right now to receive your free no-obligation info kit. call the number on your screen.

champion iron provides a rare solution to decarbonise the steel industry, which represents nearly 8% of global emissions. controlling one of the largest portfolios of high purity iron ore, the company is well positioned to align with the industry's accelerating transition towards green steelmaking. having recently completed an expansion to double the company's production capacity at its mine in eastern canada, champion continues to deploy its vision with organic growth projects. champion iron what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are, regardless of your health history, offering values based affordable health care cost solutions. learn more today at yourchm.org about health care that puts you in control.

♪. stuart: i'm all shook up. yes, we are. financial markets are shook up, aren't they, lauren. lauren: understatement. stuart: good morning, everyone. 10 eastern. left-hand side of the screen. very interesting situation here. the dow industrials up 340 points. better than 1%. you got the nasdaq composite, down almost, down almost a half percent, split market as of now. 10-year treasury yield is starting to go back up again. would you believe first thing this morning 4:00 eastern time, the yield on treasury was 3.33%. it has gone back up to 3.47. it is called volatility. two year treasury, look at that thing go, back up 2.93%. this morning at my notes it was

at 3.74. that kind of volatility is really something to scream from the headlines, because that is a very big deal. as for bitcoin the rally continues. it is at 27, nine. earlier it was over the 28,000 mark. volatility all over the place. that is the markets. now this. back in 2008, they're was an intense debate about bailing out the banks. now we're not in that dire crisis situation at this point but we have seen buyouts of troubled banks, some backstopping of banks, pledges of insurance for depositors and pledges of really, really big money still to come if needed, what would we do if things really got out of control as they did 15 years ago? maybe a little history is appropriate here. when a slide began all those years ago, a bailout bill was presented to congress. opposition was intense why