ashley webster again from fox business is with us. the era of cheap money is over. what happens today won't effect that. >> no. the fed is looking at the economy, wage growth, potential for inflation. in some senses, what sear seeing on the markets today is a reflection of how good the economy is becoming. that's counter intuitive. but because of that, the fed wants to raises rates to get us back to where we should be. for years, cheap money sloshing around the markets like -- everyone can spend like a drunk sailor. it's been great. now we have to start coming back to reality and this is a bit of that. >> shepard: the nasdaq off 2.24%. s&p 500, which is what we like to look at more than maybe we show it on the screen because it involved so many more stocks, it's 500 stocks. the s&p 500 down to 2.73%. big percentages. >> they are big. but if you're a technical trader, you look at certain levels. if it breaks through, you think it's growing to go to the next step down. we haven't seen that yet on the s&p. what we're trying to decide and difficult to gauge because it's

i'm ashley webster in for liz clayman. just as you thought it was going to be a nice quiet friday, there's no such thing these days. here's how the day is played out. at about 12:45 p.m., news of moller's indictment against the national sent stocks tumbling 245 points in two minutes. not quite to the low of the session but close. then stocks rebounded after the market further looked through the indictment and realize there were no allegation of willing support by americans in the indictment. right now the three major markets all higher up about 30% on the dow. individual stocks, shares of steel company soaring after the trumpet ministration said it is weighing broad-based tariffs to curb imports on steel and aluminum. it ranges of a global tariff of 24% to a more targeted approach focusing on specific nations. steel companies moving up nicely. shares of kraft heinz hitting it to a half year low after the macro of kraft make and she's missed estimates. campbell soup, one of the worst performers in the s&p 500. news that one

could have ashley webster in for lauren simonetti. i had a shirt and jeans on when i came in this morning. it is like early spring, early summer. beautiful. crazy. cheryl: we had the open of the markets yesterday and of course we went down. and down. a nice little selloff yesterday afternoon. another day of volatile trading. the dow jones more than 260 points and snapped a six session winning streak for the dow and s&p 500. it is just the appetizer or main course of falling stocks. cofounder flynn's capital management is here. jason garcia met, cofounder of hail investing. good morning. >> good morning. train to another rough day for the markets. the name of the game right now is inflation and what the federal reserve will do. we look at the market of clarity do you think? >> i think elegant clarity as he talked about on this program at the beginning of the year. inflation and interest rates would be the theme of 2018 as well as volatility disappointed. obviously we seem inflation with producer price index and wages and that bleeds in

much, much more, we have ashley webster to take you through the next busy hour. ashley: neil, very much appreciate it. stocks kicking off the week firmly in the green ashley: i'm ashley webster in for trish regan. welcome to "the intelligence report." president trump meeting with group of governors in discussion of gun violence in wake of the florida school shooting. the president voicing support for stronger gun laws with a proposal to raise minimum wage to buy a rifle. will anything actually get done? that is the big question. we're on that story. >>> the mayor of one of call for's cities is defying the federal government warning illegal immigrants about upcoming i.c.e. raids. has she gone too far? more on that story coming up. first let's get back to the roaring stock market down on floor of new york stock exchange where our very own nicole petallides standing by. nicole, once again it seems the market wants to go higher. >> that's right. we had a bumpy week. friday we saw up arrow. that managed to push our numbers into the green for the week netflix and amazon

ashley: do not adjust tv set, i am ashley webster. stu is not here today. hopefully stu will be back tomorrow. not making money, here is the big story, the market back from three-day weekend and we are looking at lower open, triple-digit losses, down 175 on the futures for the dow, but to put all of this in perspective, the market coming off the best weeks of the years and the losses we are looking at less than 1%. wal-mart will be definitely dragging the dow down about 50 points. the stock as you can see off 7% in the premarket. they are seeing stiffer competition online from amazon and the sales that well, didn't match up during holiday quarter with amazon and as a result the stock getting hit a bit in premarket. speaking of amazon, they are back from three-day weekend with vengeance, no less than three stories relate today them. five companies in all making news because of amazon. the tenticals go out as they say. two political rivals that blasted each other during presidential campaign now friends, apparently. you have to love it. we have three hours to

ashley: well, i am ashley webster. stuart is out today. packed show ahead. in 30 minutes president trump will be meeting with state and local officials on school safety just one day after holding a very emotional meeting with students and teachers affected by that shooting in florida. we're also keeping a close eye on the market, of course, stocks holding on to gains this morning, but is the volatility just part of normal trading these days? the dow up 220 points at this hour. >>> meantime, senator bernie sanders turning on hillary clinton. why he's blaming her for allowing russian interference in our election. we'll get into that. and house minority leader nancy pelosi never backing down from her attacks on tax cuts, but her colleague ares on capitol hill say, well, maybe that's enough. the republican lawmaker behind the crumbs act will be joining us in about 15 minutes from now. the third hour of "varney & company" begins right now. ♪ ♪ ashley: it's that time of the week, weekly oil inventories breaking right now. e. mac, what have we go

ashley webster here with me with former prosecutor david diepetro. ey, walk us through what is going on here. >> this is mayor, in my mind, david could comment, she should be thrown into jail for aiding and abetting a crime. at very least obstruction. these people committed the law in the first place, being here illegally. giving them a head's up when federal agent come in to arrest them. 150 illegal aliens were picked up this weekend from sacramento down to stockton in the central valley of california. 50% had criminal convictions. one had been deported to mexico eight times. yet the mayor of oakland who put out the warning that i.c.e. agents were coming says i want to protect my community. nothing about what she did protects those legal citizens in those communities. trish: david, i talk about the federal reserve occasionally and markets being in a "alice in wonderland" world but my gosh, our whole society is in a "alice in wonderland" world. the idea that she is protecting people with criminal records and here illegally because somehow she thinks t

much, much more, we have ashley webster to take you through the next busy hour. eciate it. stocks kicking off the week firmly in the green ashley: i'm ashley webster in for trish regan. welcome to "the intelligence report." president trump meeting with group of governors in discussion of gun violence in wake of the florida school shooting. the president voicing support for stronger

ashley webster. it's very good to have you with us.been a long day and i appreciate you staying. i think an analyst told me today we are not out of the woods. we are just men clearing. don't get ahead of yourself. what do we look for especially tonight out of asia and elsewhere? >> sometimes we take our cue from asia but not in this particular style. we are going to say the asian markets i think pick up where the dow left off. the asian markets, highs following the queue of wall street. shanghai, hong kong, japan, singapore all down. japan down more than 10%. it was down another 4% in tuesday's session. those markets will be opening in a couple hours. asia takes its cue from wall street because during all the low interest timely had for years and years, and a lot of money has been going into asia, people looking for better returns. because of that, they believe that money is going to come back. how the interest rates are rising. that hurts asia. as for europe, a big sell-off, a sea of red all over the place. all of these countries. spa

i'm joined by ashley webster on set.et's back up for a minute because there is a lot to die guess. i'm told we have a little bit of time. that is music to my ears. >> that is dangerous with me here. all right. trish: let's talk about two difficult things. we have washington, the points he made about the washington and structural differences. talk about what higher interest rates will mean? >> bottom line for everyone out there, higher costs when you're financing your house, your car, or any other purchases. we know that it will cost companies more money to borrow money to expand. but it is also a double-edged sword because people who like to save money will get more money back on their returns. it unfortunately doesn't make the stock market attractive as it has been with the cheap money over last 10 years, now maybe i can go into a 10-year bond and get guaranteed rate of return. this is actually pretty decent. trish: you see how savers have been penalized over the last decade. >> it has been horrible. trish: i admit the

ashley webster has more. what is this? the budget? >> yeah.et to the space stuff in just a moment. this is a $4.4 trillion spending plan. let's begin with the cuts. medicaid and medicare. $250 billion for medicaid over ten years. cuts to the food stamp program. $214 billion over ten years. the epa, this will get some tongues wagging. $208 billion in cuts. a 34% cut. by the way, virtually eliminates all climate change related programs. let's take a look at the boosts. defense spending. heard a lot about this of the $716 billion going to the mel teary. healthcare for the veterans. the opioid crisis response, $13 billion. as you mentioned there, we're talking about the restructuring this country for roads and rails and ports and airports. the feds kick in $200 billion. it's hoped that the states and private enterprise will pick up the rest to make it $1.5 trillion. >> shepard: and pass along -- >> expect higher taxes. >> shepard: or road tolls. we always pay. >> always. bottom line. >> shepard: and we want to sell -- how does this work with the i

send it back to ashley webster. you're watching intraday moves as well. >> all day.a breath. i will talk about a couple stories here. move over alexa. apple's virtual assistant homepod entered the building. apple touting the $349 device. it is better than its rivals because it has superior speakers. you would hope so. preorders did sell out ahead of the in-store launch. apple shares up slightly. that is apple. amazon on the verge of another battle with fedex and ups. "the wall street journal" reporting that the e-commerce giant is preparing to launch a new delivery service for third party merchants. shipping with amazon, swa. the new service will begin in los angeles the next few weeks. it will expand to more cities by the end of the year. amazon though today trading down, as you can see, down 1 1/2% on friday's trade. we'll have more with liz claman live from the floor of the new york stock exchange when "countdown" comes right back. ♪ running a small business is demanding. and that's why small business owners need more. like internet that's up to the challenge. the

ashley webster -- [laughter] ashley webster elizabeth and mike murphy and d very okay dr you first we already know that mr. powell is going say the economy is fairly strong. jobless rate falling, income wealth spending all rising low stable inflation. what do you think that means for interest rates about how far and how fast he's going to raise them? >> i think he is going to be firmly in the don't rock the boat camp stuart. he's going to -- he's going to try to maintain a good thing. the unwinding of that balance sheet we've talked about he's going to try to do that very gently, and i think we've talked about the fact could it be a four, five interest rates hikes we're not sure where that you are going but he might be damping that a little bit. >> market agrees with you because we're up if the market right if the market thought his opening statement that we wouldn't get four or five interest rates quickly that would tank. >> what the market doesn't like stuart is unserpght. the market doesn't want to be guessing on how quickly they're going to -- remember weeks ago in the middle that

ashley webster got his shot yesterday. what will dr.al say, you will hear from him later in the program, more varney after this. , you should know that chevy silverado's are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not. (laughs) which truck would you pick? the chevy. the chevy. the chevy. there you go. boom. that was obvious. plus it looks cooler. no doubt about it. now they know what to get me. (laughs) stuart: well, well, campbell soups is going to be down a buck 45, that's about 3%. apparently people are eating less of their soup. okay, campbell soup is down. now this, i'm going to show you the guy who alerted the fbi to the florida school shooter's threats on youtube. roll tape. >> i put up a video and a particular guy found my video and try today delete the comment so i reported it to the fbi. the fbi sent out a couple of agents to my office pretty immediately and they took down what information i could give them and i hope open an investigation from there. stuart: the com

here's "varney & company" and ashley webster take it away. >> thank you and i'm ash stew is out againovered he's the story. wild swings continue in the stock market. the dow moved more than 400 points in just a couple of hours before closing down triple digits yesterday. the question of the day now, is volatility here to stay? right now, the market showing a slight improvement to futures showing we're up about 60 point but, of course, you never really know where it's going or how it's going to end the day. the the trading we'll be all over that as usual. amazon as we like to do every day that stock is clear

the aforementioned ashley webster and elizabeth macdonald and brian holding his place here and jeff joinsrsday morning. jeff. why the selloff? >> well because i think the market which had has been overly complaisant is priced to perfection and little concerns like interest rates going up some of the concerns the markets have been having have been give ifing investors an excuse to liquidate. whining you have markets hitting records time and time again investors that are looking at their profits and are tempted to take profits will when they're given a read. >> seven monthses away from this being long tests bull run ever. [laughter] it is nerve wrecking to me. send them away to be historic longest bull run in the dow ever. stuart: look we have it ten straight months. ashley: so old. it is aging gone up for ten straight months first time we've done that i thinking in 60 years. that's a pretty good indicator. and now we're only town 90 only down 95 points we're holding above 26,000. why are we down today? >> investors are getting used to the fact with four rate hike that's not a big deal. inf

ashley webster and elizabeth macdonald, mic murphy and jeff with circle square alternative investmentong name. jeff, we're chucking money at this economy. do you think that's good for the stock market >> here's the thing, this is a quick fix market. they love to spend but the reality is this market is addicted to low interest rates, and with all of the spending an by the way, this was an awful, awful spending bill with all of this spend we're bound to see interest rates rise. not only a little but dramatically in the future. this ises very, very bad thing. bad thing for the economy to see interest rates go up. >> adrenaline to move up but in the long-term it is bad. >> mike murphy juicing the economy good for the market ore bad for the market longer term is? >> i think it is great for the market. i think what happens so just -- difference of opinions. >> respectfully disagree with jeff. i think that i didn't see the other side of what the government could do right now. cut back spending? i don't think the economy is in a position we've had a few strong reports. i don't think we're in

stuart: ashley webster. [laughter] stuart: now check nasdaq. about the same percentage amount as the dow industrials. quickly, back to the dow, we are now down 322 points on dow jones industrial average this morning. that follows better than 1,000 point loss. down 324. why is this happening? jitters about interest rates and right now we've got the yield on the 10-year treasury at 2.84%. as charles said it's not a lofty level but the spike recently has upset people. >> looking at the s&p 500 in midterm years pointing out entry year, middle of the year, it'll drop nearly 17% but then bounce back up 32% in 12 months. mid-term election year. stuart: i have to check the big techs, because that's where a lot of money went in the past few years, i should say and this is -- it's coming out of them again this morning. facebook at 187, amazon right at, just dropped below $1,400 a share. microsoft holding right at 90. alphabet is 1,095, dropped below 1100 and apple has dropped below 160. we have now tempered the loss. down 278 points in dow industrials. g

ashley webster elizabeth macdonald, liz polk and david -- all right, what to you say david, the strength in the economy two and a half percent did that justify your clients our viewers putting more money into stocks right now? >> i think if stocks are well selected absolutely. very impressed with mr. powell's presentation earlier this week. i think it's very hard headed approach. look for anyone who is holding back on hikes and for the you don't belong in the market because if this economy maintains a momentum i think these tax cuts in healthy global economy will give it we're seeing more tax -- excuse me rate hikings over next self years. that's like what you want to have -- >> all for it. that's okay. because they're going to come for the right reasons. fnlings you don't think that raising interest rates four or whatever the number is it's good news for stocks? >> unhealthy for bond. but i would say best news of the day is that consumer sentiment for february all time high since 2000. that is -- that to me is sort of the driving force here. optimism amongst consumers and business manag

ashley: do not adjust tv set, i am ashley webster. stu is not here today.d and we are looking at lower open, triple-digit losses, down 175 on the futures for the dow, but to put all of this in perspective, the market coming off the best weeks of the years and the losses we are looking at less than 1%. wal-mart will be definitely dragging the dow down about 50 points. the stock as you can see off 7% in the premarket. they are seeing stiffer

who wants to do -- ashley webster, elizabeth mcdonald and brian brendberg and scott martin, scott, woulduart, unfortunately there's still a lot of things unwinding under the surface, we talked a lot about volatility et if he recollects' that are -- etf's that are out there and got exposed to some volatility crash and meltdown that we have seen. for the next few days i think the market will calm down, i still feel that there's a tremor or two out there because of the unwind that needs to happen. stuart: hold on a second. you told me that you expect market to break out and establish new high this is year, say it again. brian: underlying economy is so strong, i think we will continue to move up unless the fed blows it. if the fed blows it and i know that's a buzzard word, but you will see more volatility like we have seen in the last few days. stuart: scott, you don't intend to buy anything given outlook for unwinding of difficult positions, you're not buying anything at the moment? >> so what we have done, stuart, we bought some stuff on tuesday, we bought stuff on monday frankly as well o

though, let's focus here on the markets because we've come out of the gate and i want to bring in ashley webstert is back with us along with jonathon. and jonathon these wild swings and the market and, of course, o the law of large numbers makes them look wilder but shall we get used to it? >> make no mistake these elephants are damaging in the harkts and i don't see an indication of these wild swings haveed to think about what happened in the last couple of weeks we've seen volatility trade blow up. we've seen interest rates now start to shoot up dramatically charles and stocks as you said all over the place. i think this time it is dirveght thousand. we haven't seen type of moves in quite some time it is going to be higher. it is going to be lower. but i think this market is volatility has not stopped by any means. >> okay real quick then jonathon if it hasn'ted to what does it mean? >> this time it is different charles i think specifically when it comes to interest rates as you've said, we're starting to see the tenure -- pushing a multiyear highs of 30 year. now ep krooing up over 3%. so i t