before the spotlight— we struggled to keep the lights on. i saw more for myself. and sofi gives members the financial tools to see more for themselves. join the official bank of the nba. sofi. get your money right. ♪ stuart: that's from way back when. it's an un-fort monday in you

look at marks. good morning, everyone. it's 10:00 eastern. look at the market. it's a selloff. nasdaq down better than 2%. the yield on 10 year treasury, not seeing much action there and just above 4.5%. no big change >> no flight to safety. not that much movement there and bitcoin, that has moved and it's back to 96,400 a coin. latest read on manufacturing just coming atous. see if that affects the interest. what have you got, ashley? ashley: it'll be interesting and coming in at 50.9 and marginally expanding and anything below 50 is contraction. we've been in contraction for 26 straight months. this is the first time since 2022, nearly two and a half

years and this shows that things are picking up in the economy and see if it stops the selloff on the market and isn purchasing manager index expanding in 2.5 years. stu.stu. stuart: ashley, thank you. now this, the president is playing hardball just how hard he's playing on full display this weekend. doge employees walked into u.s. aid offices, dismissed or put on leave top officials, took down the website and essentially shut down a government agency with more than 0,000 employees and annual budget of 40 billion and calling them is a criminal organization beyond repair and followed a dramatic play in venezuela and special envoy rick brinell brought back american

hostages and forced maduro to take back venezuela gang members and pay for their return. that's a hardball win. secretary of state rubio went to panama and came away with agreement that panama not renewing contract withs chinese companies that could control access to the vital shipping lane. that's a win. before that, elon musk forced way into the treasury's payment system and needs no nose who wed needs to cut government. knowing where the money goes is a good first step. then the tariffs, 25% on mexico and canada, 10% on china. they knew they were coming and speculation he would back off. the president did not, he pulled the trigger and take effect at midnight tonight. trump has spoken to canada's trudeau, they will talk again at 3:00 p.m. eastern this afternoon. trump will also speak with mexico's leader today. we'll see if there's any last minute negotiation. the president admits there'll be some pain and investors are

certainly feeling pain and it's a selloff. but he says the pain will be worth it. it will bring in a new golden age. and it's noted like the agenda came out of the blue. it was telegraphed during the campaign and inauguration and now the hardball arrived and result will drive america in a new direction, something voters said they were ready for. second hour of varney just getting started. ♪ stuart: mary catherine ham with us this morning. if this drags on, say for weeks, will voters support the president? >> yeah, this is something he advertised he'd do and people have a sliding scale of how much economic disruption they're willing to take in the name of tariffs depending on how mad they are about the problem trump

is trying to solve. in the past, he's used tariffs extremely efficiently to solve problems, columbia, we saw that last week where he said here's what i'll do to you if you don't take your folks back. they took the criminal aliens back immediately because of the specific ask, threatened, the thing was done. he's done it to france in the past and they were trying to put one over on us on internet taxes in 2019 and '20 and he said 100% tariffs are coming on champagne and they're like never mind. those are discreet asks. people are mad at mexico for sure and canada they're a little less upset about. and the ask is a little less specific and that's where he'll get into trouble. if you're not being very specific, people are comfortable with these as negotiating tactics but not what they start affecting their gas prices. stuart: talking democrats and hour's long devote for new dnc chair. former chief jamie harrison said

leadership elections must be gender balanced. watch this. >> our rules specify when we have a gender neutral or nonbinary candidate or officer, they're counted neither as male or female and remaining six officers must be gender balanced with the result of the previous four elections, our elected officers are currently two male and two female. in order to be gender balanced, we must elect one male, one female, and one person of any gender. stuart: okay, if you'd like to explain that one to me, feel free, and maybe what the democrats are all about here. >> yeah, stuart, i regret to inform you i do not understand what's happening there, but seems stupid and that's how most normal people would react to

that interaction. i think the democratic party is stuck in 2020 vernage and it's not helping rigout to normal voters. this is why they have trouble connecting with normal voters and trump and elon going into usaid and saying when you're using billions in taxpayer money to pay out all these groups that talk in these weird ways, maybe that's not great use of our money. a lot of people agree and look at federal work force and president trump compared to democrats saying i want my money with that guy and notornises guys. stuart: thanks for joining us. back to the market. s&p down 1.8% and nasdaq down 2.25%. that, folks s a selloff and i'm sure it's all about these tariffs. jeff seeker joining us this morning. "the wall street journal" editorial board calls trump's

tariffs the dumbest trade war in history, that's the full quote. your response to that? >> i think "the wall street journal" editorial's article was one of the dumbest articles that i ever read, and for multiple reasons, they obviously have an ax to grind with him and the fact that in this article, the writer said he felt president trump was using the fentanyl crisis as an excuse for tariffs and i do not believe that's true. i believe president trump is determined to end the fentanyl that's poisoning and killing the youth in america. i think he's committed to that and that's the main reason he's doing it and, yes, there are economic reasons he's doing this, and i support the tariffs. i think they will to quote him, cause short term pain, but i think the ends will justify the means when this is all said and

done. stuart: it's it really all about fentanyl with the northern neighbor, it would be relatively easy to fix it, wouldn't it? these conversations between trudeau and trump, i mean, he could turn around and say, we'll fix the fentanyl thing and then there's a negotiated easing up of the thing. >> yeah, that's shocking about trudeau because he has the opportunity to come out and say he'll fix it. as does mexico and all they want to do is throw out the rhetoric and act like they're going into war. they're not going into a war with a country with gdp of $27 trillion. canada and mexico combined have less than 5 trillion gdp. they're poking the bear, and they're making a big mistake. this selloff, there's things to be concerned about in the market, but tariffs should not be one of them. this will put us in a better place than we would have ever imagined when all said and done.

stuart: forceful support for tariffs and trump. jeff seeker, thank you for joining us. see you soon. ashley, you're looking at some movers. start with apptiv. what do they do? ashley: yes, automotive technology supplier and stock down more than 7% pretty much for the same reason most are down today. raymond james downgraded stock to market perform and the analysts say there'll be per sis taint challenge -- persistent challenges because of the tariffs we've been talking about. all the big airline names heading south after trump's announcement and don't forget about transportation secretary's comment on faa systems following multiple accidents this week they're all down 1.5 to jetblue down 6.5 bernards healthcares. take a look at mattress company temper-seally and rare winner up 4.5% and won approval for buyout of mattress firm following that

news, they have received several price target boosts on the likes of bank of america, key bank, which is raising to $70 and part-timer sandler. stu. stuart: thanks, ash. still ahead, vice president jd vance visiting east palestine, ohio, marking two years since the toxic train derailment, watch. >> people ask is the water clean to drink and air clean to breathe? we have a great ep administrator that can answer those questions. stuart: vance said this is personal for him. a new poll shows americans do not think the democrat party shares their priorities. we're following that one for you. we're keeping an eye on this market selloff, big time at the moment and see how we close. we'll be back. ♪

where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management i love that i can order official state lottery tickets anytime, anywhere with jackpocket. heck yeah i can play the lottery wherever i want. with jackpocket you get notifications for all the biggest lottery drawings so you never miss out and you can see your ticket on the app. plus, with new official state scratch games available on the app, more of your favorite games are right at your fingertips. not to mention jackpocket users have already been paid out over $40 million in scratcher wins. i can get used to this. order official state lottery tickets and scratchers from anywhere with jackpocket.

stuart: on that market, it is a selloff, we're not coming back much at all. the dow's off 600 and nasdaq down 470 and s&p down 110. on the phone, joining us now to cover this market, thomas hayes. thomas, this is a big selloff. and do you see any buying -- are you buying anything? jive got any shopping list ready, stu. this is a great opportunity. goldman sachs was out saying this is fully implemented and no agreement then etfs dropping 2-3% and maximum on s&p 500 down 5%. i think the way to look at this is we're looking across our

positions in the portfolio. things that we love before friday, we still love and we'll be slowly adding in over the next couple of days and we'll be looking for new opportunities. i mean, look, earnings have been phenomenal. you know, we're 77% beat rate and 13.2% earnings growth and positive january and if this is a prologue, s&p up 89% of the time. there's a lot to like here, and then we just saw ism manufacturing index coming in better than expected and coming out of two-year manufacturing depression in the united states. this is a positive thing. stuart: give me a name or two. what are you buying? >> well, one i've talked about with your viewers on the show, it's up about 10% since we started talking about it, etsy is the beneficiary of the exception that temu and shein

talking advantage of. so etsy is up on the news and tremendous company, and billion dollar buy back and covering internationally and growing men's business and gifting business and we want to add to that on this selloff. stuart: etsy, i shall remember that. thomas heys, thanks very much -- thomas hayes, thank you very much indeed. two years sinces train derailment in east palestine, ohio. mike tobin is there. what is vice president vance doing? reporter: he's going to make good on the campaign promise here to take care of the residents. two years since the train went off the rails in east palestine and residents complaining about health issues still. faulty baring blamed -- faulty bearing being blamed for the derailment and a fire explosion of tanker cars that burned for a listening time and most contain

hazardous chemical chloride and that burn never needed to happen and norfolk southern agreed to pay the village of east palestine $60 million and a class action settlement for the individual citizens is hung up in court and residents don't even have enough money to move away. >> definitely feel forgotten. i don't feel like much as changed in the past two years. they're still finding pockets of chemicals, creeks are still contaminated, people still need out, and we still need health insurance. reporter: in the previous administration, transportation secretary pete buttigieg took more than two weeks to arrive in east palestine. president biden took more than a year. not even three weeks into the new administration, vice president jd vance arriving here showing that intention to make good on his multiple campaign prosperities to take care of the residents here. >> i don't think enough is ever enough. i mean, they changed the whole

as exsect of our town -- aspect of our town forever and we have to live with it and move on and try the best for our citizens. reporter: the vice president coming to the fire station and lee zeldin and mike dewine coming here to tour the cleanup site. stuart: mike tobin, thank you very much. according to tafanely nu times poll, most -- a new york times poll, most democrats feel the party doesn't share their views. mitchell brown is with us this morning. have democrats not figured out why they lost in november? >> hey, stu, no, they clearly haven't. i don't want people to go watch it. i've already watch it had for them, but some of the clippeds from the dnc vote on saturday are out, and their platform clearly has not changed and their leadership coming in has not picked up on the signs and a bunch of people went on stage yelling at the crowd members to be silent because a black woman is speaking.

she's showcasing her power. they did not talk about economic policy. they talked about, as you showed that clip before, what gender or non-gender they need on the board here. no, they haven't learned any lessons or messaging plan and don't have a single policy to go out and actually give to the voters. stuart: is there an acknowledged leadered of democrat party? senator schumer? who is it? >> there clearly isn't. they all -- schumer, pelosi, and jeffries endorsed the candidate that lost at the vote for dnc leadership. david hog might be the new policy leader for the democrat party. we don't know. stuart: the first millennial in that position or something like that? >> yes, he is. so it's interesting and we'll see what he wants to do for mcellroy. america. stuart: a separate quinnipiac poll show more people approve of trump's performance at start of second term than at start of his first term.

significant improvement. why is there more optimism this time around? >> prosperities kept, promises delivered in -- promises kept and prosperities delivered in trump admin 1 and didn't have policies in place and a talk about what we wanted to do but trump has been adamant from day one of the campaign things we're going to do. what we're going to overhaul, what we're going to do to the corrupt system in dc. people are seeing that. what's going on with u.s. aid currently, what's going on at the border, ice cracking down. this is what people wanted to see and what people voted for. this is the mandate and now the job is pushed to the senate for this week to make sure they confirm this mandate. three people left to confirm left this week are what the will of the people asking for. it's, again, job on the gop senators to go out and confirm these nominees. trump has the rest of the game plan ready. people are more often going to allow you to try and do it when

you're straightforward. stuart: mitch brown, thank you very much. see you soon. >> thanks, stu. stuart: at midnight last night, elon musk held first doge spaces. what did he have to say, ashley? ashley: he said part of doge's plan to aggressively cut spending and regulation and u.s. agency for international development or us aid will be wiped out. listen to this. >> getting back in, it became apparent that what we have is not app billion a warm and we have just a bowl of warms. there is no apple. you've just got to basically get rid of the whole thing. it's beyond repair. really none could be done without full support of the president. went over it within detail and agreed we should shut it down. after checking with him -- chatting with him a few times. are you sure? i'm like, yes. we're shutting it down.

ashley: trump said he has musk's support and we'll fold what's left of it in the state department and turning out the u.s. really needs an organization in the future, he says it could simply just be creteed again. musk says by the way he'll also meet with jp morgan chase ceo jamie dimon this week to convince bond markets that doge should instill confidence in u.s. debt. fascinating. stu. stuart: gets around, doesn't he. thanks issue ash. coming up, today secretary of state marco rubio heading to el salvador after going to panama and got them to end a canal deal with china. we'll report on that. trump says jen will accept deported -- venezuela will accept deported migrants and provide transportation back. what was trump's threat to make that happen? i'd love to know. that's next. ♪

(auctioneer) let's start the bidding at 5 million dollars. thank you, sir. (man) these people of privilege... hoarding the financial advantages for far too long. (auctioneer) 7.5 at the back. (man) look at them — unaware that robinhood gold members now enjoy the vip treatment — a 3% ira match on retirement contributions. (auctioneer) 11 million sir. (man) once they discover their privileges are no longer exclusive... their fragile reality will plunge into disarray. ♪ known for pursuing your passions. no one wants to be known for cancer but a treatment can be. keytruda is known to treat cancer. fda-approved for 17 types of cancer, including certain early-stage and advanced cancers. one of those cancers is early-stage non—small cell lung cancer. keytruda may be used with certain chemotherapies

before surgery when you have early-stage lung cancer, which can be removed by surgery, and then continued alone after surgery to help prevent your lung cancer from coming back. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, persistent or severe muscle pain or weakness, muscle cramps, fever, rash, itching, or flushing. there may be other side effects. tell your doctor about all medical conditions, including immune system problems, such as crohn's disease, ulcerative colitis, or lupus, if you've had or plan to have an organ, tissue, or stem cell transplant, received chest radiation, or have a nervous system condition, such as myasthenia gravis or guillain-barré syndrome. keytruda is an immunotherapy and is also being studied in hundreds of clinical trials exploring ways to treat even more types of cancer.

it's tru. keytruda from merck. see all the types of cancer keytruda is known for at keytruda.com and ask your doctor if keytruda could be right for you. (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. is a bitcoin etf the same as owning bitcoin directly? while bitcoin etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment

with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. stuart: there is significant news on tariffs. listen to this. mexico's president sheinbaum said she had a good conversation with trump this morning and

mexico will be deploying 10,000 national guardsman immediately to the board tore stop the trafficking of drugs into the united states. and mexico will pause tariffs on the u.s. for one month. earlier trump spoke with canada's trudeau earlier this morning and will speak with him again at 3:00 p.m. this afternoon. i see movement here in this trade conflict, and it's affected the market a little. the dow has come back a bit and it's now down 300 as opposed to 450 or 500. the nasdaq is down 300 points still as opposed to better than 2% earlier and movement because of what looks like negotiation. and come on in, ashley. looking at movers and how are they starting? coin base. ashley: yeah, not a safe haven from the market selloff. bitcoin has been following the market down just above $97,000 a

coin and trip toe plays lower and zeroing in on micro-strategy down 2%. last week it was the first time the company since october did not make any additional bitcoin purchases. so read into that what you might. take a look at the auto sector ford, another company that would take another hit of tariffs going into effect at midnight but we got a few new numbers from the auto maker as well and they say u.s. sales fell 4.6% in january and they blamed that on lower demand for their gas-powered cars. the stock down 1% and they're not exactly seeing evs fly out the showroom either. and take a look at pharmaceutical company abvi and green up 2.5% and reported earnings last friday and market analyst going for morgan stanley

going behind capital raymond james all say it's time to buy this stock and, yes, it is higher by nearly 3%. stu. system of articulation stuart: thanks, ashley. paying attention to bottom right of your screen and dow industrials are coming back and now just down 200 points and going for the association from mexico and tariffs and that's bringing the market back just a little. you got red ink and coming back a bit. after meeting with secretary state rubio and panama's president announced he will not renew a key canal deal with china. steve hair began in panama -- steve harrigan live with us. reporter: he had tough words for panama as president and the status quo could not stand or u.s. could take dramatic action to protect its own interests in panama. we've seen movement and cooperation as well too and rubio out here this morning at this regional airport watching panama fly illegal migrants back

to their home countries and 43 people from columbia were frisked and put on a plane as rubio watched so that's really a sign of more agreement between these two sides, and rubio stressed this u.s. border trouble does not begin at the mexican border. >> we recognize many of the people that seek mass migration are often victims and victimized along the way and only people that benefit from mass migration are traffickers. >> two key moves by panama after talks with rubio. reporter: two ports owned by chinese companies on the canal are under audit and second, panama said they'll no longer participate in the program belts and roads and chinese infrastructure investment program. panama's president held firm going to continue to control the panama canal and didn't expect any military action by the u.s.. >> there's no question that the

canal is operated by panama and will continue to be so. i don't think there was any discrepancy on that. i did not feel any threat. reporter: panama also offered the use to u.s. airstrip with the southern jung and will repatriate with illegal aliens. stuart: back to you. president trump spoke about rubio's visit to panama and watch this. >> panama violated the agreement and we're going to take it back with something very powerful to keep that from happening. stuart: retired lieutenant general james carafano joining me now. sounds like rubio went to panama and came away with the deal that should satisfy president trump. >> well, we talk about the

security of the united states and many countries in the western hemisphere and it's really not the military threat. i mean, the united states obviously can secure the canal. the problem is is it becomes a bottleneck in a time of crisis or war, and then the real issue is not who controls the canal. it's the ability to sabotage the canal. just put a ship, break a lock or something like that. so it is not really a military problem. it's an infrastructure protection and secure problem, and i think that'll require for coordination with the government and panama. stuart: trump said venezuela not only agreed to take back illegal migrants, but that they'll provide for their transportation back to venezuela. this follows a quick visit by special envoy rick grinell to

maduro who met him at the airport. do you think that rick grinell threatened maduro? >> there's three things going on simultaneously in the western hemisphere. one is russian, chinese and iranian overreach and all three are stretched at their ability to drive their influence in the region sos their friends and protecters are blanking about that . the other one is is the chinese and -- none of them have delivered in terms of growth, and we have this kind of surge of populism led in in the united states and other place where is people are frustrated by their governments and they're saying you're not delivering and i want better. so the typical chinese russia thing bribing a few people. that's not necessarily working anymore. because they might get thrown out of office or even worse. and then the third thing is trump has been such a tsunami

here in terms of demonstrating america's commitment and seriousness about the western hemisphere, that if you're a maduro, you're just sitting in there and you're going geez, this is not a time to make america mad. it's just not. it's not funny. if you're maduro, this is not funny. stuart: i understand. i'm just saying look, obviously hardball works, doesn't it? >> and when rick grinell shows up, it's like sending a big guy. stuart: he's a tough guy. he really is. james carafano, great stuff. thank you for joining us. appreciate it and see you again soon. coming up, japan is considering supporting a $44 billion lng pipeline in alaska. the state's government mike dunleavy will respond to that, quite a move. this breaking move, mexico's president sheinbaum said she had a good conversation with trump this morning and deploying

10,000 national guardsmen to the border immediately to stop trafficking drugs to the border and america. that news is coming back and we're following it all day. we'll be back. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. try pronamel mouthwash. ♪ only servicenow connects every corner of your business, putting ai to work for people.

pfft ... every corner? every corner, nick. ow! so kate in hr ... hey kate. can focus on people, not process. patty in it is using ai agents to deal with the small stuff, so she can work on the big stuff. and ai helps jim solve customer problems before they're problems. oh, so we all work better, together! my work here is done. excuse me, which way back?

stuart: i'm going to repeat what i call significant news on tariffs and mexico's president sheinbaum said she had a good conversation with trump early this morning. she said following that conversation she told the president we're going to deploy 10,000 mexican national guardsmen immediately and sending them straight to the boarder and stopping trafficking drugs into the united states. going for them and mexico pausing tariffs on the united states and pause those tar riches for one month and earlier trump said she spoke to trudeau of can nah data committee and spiking to trudeau of canada at 3:00 p.m. this afternoon. there's been some comeback for the markets and we were down much more sharply than we are

now, dow's off 180 and it had been 400 down and nasdaq down 230 and it had been more than double that. and extraordinary stuff and changes in energy and some groups of stocks, namely energy. they're coming back and they have now turned positive. and healthcare stocks moving into the green with news of these negotiations and going for that and the markets are coming back on the news of negotiation. is it time to buy. >> volatility is bad. make no mistake about that and there's a new sheriff in town for 4 years and we got a guy that's talking and following through. he's walking around with a big stick. now, this morning like that'sland i'd be buying dips and adding to data centers and

nuclear positions and any time there's a dip in the volatilely, i'd take advantage of it. stuart: think this is -- i mean, the dow is now down only 84 points. that's it. it had been down, i can't remember exactly but like 400 earlier. is this all about the negotiating moves that's bringing the market back? >> that's what it is, stuart. donald trump is smart enough to know that he is a great negotiator and if he goes ahead and threatens things, they're going to have to react. united states of america has largest economy in the world and it is a tremendous amount of power and if you can't sell youf problems. stuart: got to interrupt for one second because we now learn that had president trump has agreed to pause u.s. tariffs on mexico for one month. that's big news. it was supposed to be a 25% tariff on mexican goods. goes into effect at midnight tonight. the president now says that will be delayed for one month.

so clearly there's negotiation going on here between mexico and the united states and between canada and the united states, and it's moving in what looks to be a positive direction. the dow is now down 93 points, 94 points and nasdaq still down about 173 as opposed to 2.7%. there's real comeback coming on here. i'm going to change the subject for just one moment here. i want to get back to that midair collision in dc last week. madison, what did transportation secretary sean duffy say about the shortage of air traffic controllers? does it have anything to do with diversity? madison: yeah, he is concern that had it does. the argument being that they were too concerned with diversity and unable to hire the amount of staffing that's needed because they were looking at things like color of someone's skin. he says they now have a plan, they're developing it to get more air traffic controllers to work. this can't happen overnigh. it'll take a year to three years to see results. take a listen to what he had to

say. >> what are we doing to surge air trafficker chlorals in the story? we haven't had enough air traffic controllers in america for a very long time. so we're working with faa right now to serving the best and brightest air traffic controllers to get into the academy and get trained up and make sure we don't have staffing issues. our air traffic controllers are stressed out, tapped out, overworked. that's not excuse, just a reality of what's in the system. we have a plan that's going to come out to fix the problem, but the issue is you can't flip a switch, shannon, and get air traffic controllers here tomorrow. it takes years to train them up. madison: stressed out in a stressful job is not good. about 90% of airport towers across the u.s. are understaffed today. and the night of that crash, there was one air traffic controller overseeing helicopter and plane traffic. there's usually two. one focused on helicopters and one focused on planes. duffy stressed he'll need cooperation from both republicans and democrats to get the resources he needs to get

more air traffic controllers on the ground, and he said americans obviously have unfortunately witnessed some cracks in the system, but he is ensuring that air traffic is safe but obviously with two big crashes last week, there's a bit of uncertainty in fliers today. stuart: yes, i need one moment to update negotiations on tariffs. we've heard this morning, mexico pausing tariffs on american products for one month, america will pause tariffs on mexican products for one month. they're dropping the tariffs and seems to me the ball is now in canada's court. the president spoke with trudeau earlier this morning. they'll speak again at 3:00 this afternoon. if mexico is pausing the tariffs and we're pausing tariffs on them, will the same be true of canada? we don't know, but there's clearly movement on these tariffs. and the market reflects that. dow industrials now down 150 as opposed to much bigger dromoearlier today. all right, still ahead, major

developments from doge this weekend. elon musk has shut down a government department. the u.s. aid and international development, it's out of business right now. that's a big deal. that's my take. top of the hour. some canadian premiers look to hurt republican states the most in a tariff dispute. we'll ask alaska's republican governor mike dunleavy about that, he's next. ♪ look at 'em, streaming directv without a satellite dish — just livin' it up! did you see how fast that guy found the game — he hardly struggled at all! you know, every day is a struggle for us pigeons... meanwhile, he's flipping through channels faster than a peregrine falcon!

ugh. ya know, i dated a falcon once. who? janice? she was a common barn owl! not to me she wasn't... you know, i still play cards with her mom! (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell any commission-based products. (other money manager) then how do you make money? (fisher investments) we have a simple management fee, structured so we do better when our clients do better. (other money manager) your clients really come first then, huh? fisher investments: yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different. (fisher investments) at fisher investments, we're clearly different. force factor prostate advanced reduces nighttime bathroom trips, helps fully empty your bladder, and promotes a normal prostate size. why? force factor prostate advanced contains clinically studied saw palmetto, beta-sitosterol, and cranberry extract. rush to walmart and find force factor prostate advanced.

transportation is one of the largest contributors to global emissions. the world needs a better way forward. at westport fuel systems, we're pioneering alternative fuel systems, enabling the world's engines to run cleaner and perform stronger. westport fuel systems.

stuart: the story on the mark, it is coming back at severe drop of opening bell cpi figuring on tariffs and mexico and can dam those tariffs are being negotiated as we speak and the market is coming back. president trump just took to truth social and confirmed he had a friend talk with president sheinbaum of mexico and confirmed tariffs will be paused for the next month. he said secretaries rubio, bessent and lutnick working at the medical examiner con government on negotiations and help be happening as we speak. seems to me, the ball is in canada's court. trudeau of canada spoke with president trump earlier this

morning. he'll speak again at 3:00 this afternoon in light of mexico's movement on tariffs. governor mike dunleavy is the republican governor of alaska and joins me now. governor this, is a very fluid situation. medical mexican tariffs droppedh sides and you're an energy state. >> yes, i think, stuart, you'll see something similar happen as well this. is obviously negotiation's approach by the president with the canadians and mexicans. i think it's going to be a bit more difficult with the chinese, but i think we'll see some movement here with canada soon as well. we hope so. canada is alaska's neighbor and only land neighbor between yukon and others. we ship lead, sink zinc and gold

and hundreds of millions in imports and canada is our big partner and we ship a lot of seafood to china as well and see how that works out. stuart: governor, sorry to tell you, it's a very fast moving situation. i want to break away and go to the white house where we've got developments there. stay there for me, please. i have another one for you later. edward lawrence, what do you have from the white house? reporter: yeah, the president donald trump has confirmed tariffs on mexico will be paused for one month. he had a conversation and the mexicans are sending 10,000 troops, national guard troops to our southern border and their northern bard tore try and stop the -- border to try and stop the flow of fentanyl and mexican government will work with our teams in the u.s. on trade and security. our team includes, according to president trump, secretary of state marco rubio, the treasury secretary scott bessent as well as commerce secretary nominee howard lutnick as well as high level administration officials who will work with mexico starting today to try and

solidify a current deal as the president says, a current deal he wants to get in place, to avoid those tariffs permanently. you mentioned the phone call that happened this morning with the canadian prime minister justin trudeau and another phone call at 3:00 p.m. today and this could be part of that negotiation and again, as the governor said, we might see some sort of agreement or pause out of that phone call. we'll have to wait and see. fast developing story with mexico and now president trump confirming the tariffs on mexico are paused for one month. stuart: edward, thank you very much indeed. back to alaska's governor dunleavy. it really sounds like things are moving from your vantage point. is that the way you see it? >> yeah, absolutely. and these things are oftentimes -- when i say temporary, they're fast moving and agreements sooner than we this. it's great news out of mexico. again, we'll see the same thing with canada and we hope so because they're our great neighbors to the east and only

land corridor from alaska to the lower 48 and great trading partners and friends. i hope it'll be settled very soon. again, as i mentioned, stuart, i think the bigger problem is going to be how we deal with china. stuart: sure. >> that trade emball languages is out of wack and i want to see how that goes. stuart: japan is considering back aing a $44 billion lng pipeline in alaska. that's great news for you. >> yeah, a lot of folks don't realize, stuart, alaska pioneered lng export for the western world in 1969 to japan and sent gas for 50 years to japan till the gas field was played out and couldn't get it. we have tremendous gas resources and that's good news. we know the koreans are actively involved. it's a different world. it's a rapidly changing world and it'll be great for all of us. stuart: governor, thank you for being right in the middle of it today. appreciate it. things are moving and you know

what you're doing here. thanks very much, governor. see you soon. >> thank you. stuart: news coming thick and fast and watching the market coming back from this news of negotiation. the 11:00 hour after "varney & co." is next. ♪ dexcom g7 is one of the easiest ways to take better control of your diabetes. this small wearable... replaces fingersticks, lowers a1c,

and it's covered by medicare. not managing your diabetes really affects your health for the future. the older you get, the more complications you're gonna see. i knew i couldn't ignore my diabetes anymore because it was causing my eyesight to go bad. for my patients, getting on dexcom g7 is the biggest eye opener they've ever had. i couldn't believe how easy it was. this small wearable sends my glucose numbers right to my phone or my receiver. with just a glance i can see if i'm going high, low, or steady. so, i can make quick decisions in the moment. now, i'm a superstar. my a1c is 5.7. my a1c has never been lower. no other cgm system is more affordable for medicare patients than dexcom g7. don't wait! call now, and talk to a real person. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had

planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. when our country needed you, you answered the call. you took the oath. you served. and you sacrificed to defend our great country. visiting angels knows veterans. you are the heroes among us. and we are honored to serve you. ♪ visiting angels america's choice in home care ♪

—hi! —hi! ♪ chocolate fundraiser. ♪ with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours.

♪ stuart: there ain't no easy way out. well, there's negotiation on the tariffs and not necessarily easy way out but a good one. there they go. monday morning on sixth avenue. utterly deserted. it's 11:00 eastern time and monday, february 3 and here we go. rook at that market come back. re-cooping some of the losses after president trump and mexico's president spoke on the phone. both have agreed that has dak down about 400 and now 192 and comeback right there. show me big tech. previously entirely down several percentage points and all down still but not in percentage points and microsoft, amazon, apple, nvidia all down. 10-year treasury yield