mark tepper weighs in. plus this: ♪ stick your progress where the sun don't shine ♪ maria: country music star and fox nation host john rich will be here to tell us about a brand new venture he's banking on. >>> but first, republicans are voting on a bill to restrict president biden's control over the release and sale of our nation's emergency oil supply. joining me right now is texas congressman and member of the house energy committee dan crenshaw. congressman, thanks so much for being here. critics say biden tapped that spr as an election stunt to bring down gasoline prices right before the midterm elections, and now we're sitting at historic lows. you're trying to prevent that from happening again. tell us about it. >> right. well, the spr act that we passed, it does a very simple thing that shouldn't be controversial. if you're going to take out of the spr, you've got to have a plan to replenish it, you've got to have a plan to actually lease federal land for drilling, a plan for production so that we c

joining me right now strategic wealth partner mark tepper, head of u.s.gory, gentlemen, good to see you both. greg, let me start with you, pennsylvania federal reserve parker late yesterday reiterating support for quarter point hike going forward. a look at treasuries this morning. we see a mixshowing. ten-year at 3.39%, way down from the high over the last year. you say the yield curve shape is sending clear signs about a slowdown. tell us more. >> good afternoon to you, maria. thank you for having me here this morning in new york. look, i mean, the yield curve shape, i think, is sending a very clear signal. if you look at -- we follow the two-year versus the ten-year but if you look at the fed fund rate and where that's projected to work relative to ten-year, that's extremely inverted. now the timing on recession and what it is signaling, i think, is very suspect over time but -- but clearly i've never seen a yield curve this inverted that hasn't ultimately led to some sort of recession. i think the data across the board is extremely weak. i think the o

stuart: are you worried, mark tepper?>> could be talking about the environmental cult and oceans boiling and extraterrestrials getting involved and could be the climate change call. when in doubt blame it on them. stuart: lauren is not with us. lauren: we yes, that's been cited in the past but they specifically mentioned ukraine and nuclear warfare, that does have me concerned and has the world concerned, which is why you've seen this you can have a tank in seven months and you can have a weapon in -- stuart: i'll back off. lauren: i'm not saying be scared but i understand where it's coming from. oh, geez. >> super accurate. stuart: democrats want to ban gas stoves but realtors are saying not so fast. gas stoves have become a premium in real estate listings and could boost your home's value. i'm sure you want to hear about that. i have concern. senators quote taylor swift grilling live nation for the ticketing fiasco, watch this. >> i believe that ticket master ought to look in the mirror and say i'm the problem. it's me.

maria: joining me this morning, for all if hot topics mark tepper lou basenese lauren wright, the issue is what are they paying for why are is somebody giving hunter biden 100 grand for art? i -- when you like it or not [laughter] >> somebody is paying something for some service why a 3. carat diamond ring. mark: something doesn't smell right at all i know collector i am no expert this guy doesn't look like pablo picasso kind of more paint by numbers . maria: easy way to hide wealth launder money. mark: paying six figures that is ludicrous i can't believe people pay that much, it is causes us to you all kind of ponder what the heck is going on under radar something seemed weird. maria: after peddling, influence peddling, and getting paid, for meetings with his father as vice president or senator, this is such a big story, particularly as you have our number one adversary china waiting in the wings. >> thip of iceberg i came out of exams like antilaw-abidinger being 101 they could use so it bad the art to hide wealth, but the question beckons what else what else don't we know? why are we

maria: mark tepper three minutes away from chip number what is most important to you.e cpi month over month expected positive 0.3%, that is what is going to drive the fed in the fed's policy the fed is going to be looking at that, that core number, month-over-month, going to be looking at three-month average want to see that zero.2 to 0.3% range for several quarters in order to be comfortable they have done their job against nation. the fed they have to be looking right now at a chart of inflation in the 1970s. so they know what happens when you stop hiking too early when you pivot when you begin cutting too early, they saw what happened there, should they choose to ignore that, they may go down in history as the dumbest fed board ever. >> by the way, we've seen fair amount of criticism because of stimulus thrown at this telling us it was transitory why is it certain things kwn consumer price universe said high for a long time, longer than people expected, i keep mentioning eggs a dozen eggs, is one area, but overall food in general food in general, continues to be ver

lou, mark tepper, great to see you. stuart take it away.ng, everyone. a new political fight over classified documents dating back to biden's vice president say found in a closet and at the pen biden center in washington d.c. donald trump asked, "whe

join megastrategic wealth partnership mark tepper and third bridge global sector lead for industrialsy peter. >> mark kicking things off with you. tomorrow things kick off with major banks, jp morgan, wells fargo, some of the heavy hitters will report tomorrow. you have airlines reporting tomorrow morning and next week american airline wills giver us guidance as well. what are you expecting from the fourth quarter? mark: we have been talking about this quite a bit for n the last several months, stephanie pomboy have been on this. the profits recession, it will be here come q4 earnings. maria: wow. >> we have seen a profits recession when you strip out energy for the last few quarters but this -- this is expected to be the first quarter where even with energy still added we see negative 2% earnings growth in the fourth quarter. maria: wow, negative. >> finally starting to happen. you know, guidance obviously is very important and i think one of the -- the big issues we have is we kind of look forward to 2023 earnings is earnings estimates are still too high. i think the street is at $2

fitz-gerald group keith principal keith fitz-gerald and mark tepper. you so much for being here. keith, kicking things off with you with market under pressure again this morning. look, we've had a pretty good beginning of the year and we want to ask you about that, investors are questioning whether or not microsoft will bust up the party tonight after the bell. company reported slowest sales growth in more six years for the quarter. there are concerns about demand cooling this year, of course, and according to fact set and the wall street journal the firm is expected to have the sales at 53.12 billion on net income of 17.2 billion, that would be down 8% on earnings and less than 3% growth on renew, keith, is that enough to make people believe that, in fact, it's time to get back into growth? >> well, you know, what's interesting it's horse to water scenarios. i've been saying for a long time this chat gbt thing is going to be google killer and the narrative is final surfacing. to me it's all short-term noise. i'm going to ignore it. i don't care what t

joining me for hot topics mark tepper tiana lowe great to be request would you go to you would go to bought of you mark reaction to what we're looking at as we get into trade day on wall street, wall street, in washington, washington seems to be in a bit of chaotic state finding direction as well i think the markets are just hoping that -- this gets resolved in some way, a republicans can move forward with agenda. mark: i think what 24 bike erring is bioa prelude to the discussion later this year, with regards to the debt ceiling we can no longer continue to willy-nilly raise the debt ceiling, trillions of dollars to sloppy joe together 1.7 trillion-dollar omnibus spending packages. we can't do that. so i think -- if we see continuing conflict any time we start to reach a debt ceiling decision, the market panics gets scared would sell off in the short run, however in the long run i feel like what is going on right now is actually long-term bullish for stocks stock market wants less inflation a strong consumer stock market doesn't want a recession caused by reckless spending that is re

mark tepper with me this wednesday morning.ht, can you summarize your outlook for the market in 2023 in 60 seconds? if. [laughter] >> i'm going to take that challenge. institute you can do it. >> i expect, economically i expect a recession in the late spring this year. i expect as far as the s&p goes, earnings to drop 10% this year, actually come down 10% from 2022. however, i expect the stock market to possibly finish higher at year end. it's going to be a roller coaster ride as we kind of go through the year. i expect though that we'll probably bottom out in the third quarter with, and then we'll have a nice year-end rally to the to get us back to 3900, maybe 4000. stuart: okay. that's a pretty positive outlook as long as you can wait until the end of the year. now, a lot of folks on the show have said this may be the start of the lost decade like the 1970s which you don't remember, but i do. the market went absolutely nowhere in 10 years. >> that's painful. stuart: is it going to be a repeat to that? >> i can't see a year in

joining me this morning, mark tepper and at th tiana lowe. two years into his presidency and he's just getting down there now? >> the thing is, this is something that we saw coming. there's a reason why a lot of us were saying at the start of the presidency, do not revoke remain in mexico, do not tear up the safe third country deals because this has to do with literally the border and the rules because once people are in, right, for the first time ever we are not only enacting catch and release but also catching and releasing without an established court date, we say we'll contact you at some point when we have your court date. jackie: it never happens p. >> the courts are backlogged. it's getting to the point where not only the border towns are complaining, you have mayor eric adams in new york city complaining. jackie: and calling out the president. >> and calling of out the president specifically. if you believe we're supposed to have social services, welfare for those that paid into the system, you can't have an unlimited amount of influx

mark tepper with me. actually, he's with me for the hour. i want to talk about tomorrow's consumer price index report. >> sure. stuart: i'm hearing all kinds of reports that it's going to be very positive, like up only 0.1%. month to month many. even negative month to month. >> that's what i'm seeing, -0.1% on the headline number and then core +0.3%. i think a lower inflation reading is already priced into the markets, but i'm actually hearing people get, like, more aggressive on the downside, which leads me to believe as kind of a contrarian that it may surprise to the upside. now, what investors really care about is what the fed's reaction going to be. stuart: exactly. >> and if the fed has any credibility left, they are looking at a chart of inflation in the is the -- in the 1970s, and they know that if they stop hiking and pivot too early, they're going to run into some bigtime problems, because inflation at the end of the '70s actually wentr than it was in the if early '70s. so round two was worse than round one. so, look, if they want

and also mark t tepper, jump in here.ally in big tech in the last few sessions, in the last few months. so does microsoft bust up the py or give us confirmation that it's time to get back into growth. >> the rallies in big tech have been so super strange to me. we're talking about one company after the next, one day after the next, they're cutting employees. they're letting people go. yet, the stocks are rallying. and for some reason investors seem to think that's bullish and, look, i get it. if you cut u unnecessary costs, that could be bullish for earnings but what's really happening here is we're seeing waning demand of. so that is not bullish for these stocks. when you look at microsoft in particular, they're cutting a bunch of people but they're not just cutting the paper pushers, the support staff. they're cutting software engineers. i mean, we are talking about mission critical employees that are vital to the short-term and long-term growth of that company that they are now letting go so that's to me paints a pictu

joining me for hot topic lee carter and mark tepper. mark, i don't know where you live, don't say it but there are people in new york city who are waking up to this every day and they are impacted by illegal migrants. they are here and not going anywhere. >> it's unfortunate this entire situation and new york city seems to be doing a 180 on the sanctuary city, isn't that interesting. this whole border crisis, you know, we are looking at new york seeing over 40,000 migrants since last spring costing the city over $2 billion a year in taxpayer dollars and i can understand why the migrants are coming here. i mean, they are getting up in pretty nice digs. i have no idea what their living situation was back in native country but i'm assuming this is probably an upgrade and one of probably the most appalling issues here is that it seems like they're in control. they're the ones making the rules, they're the ones saying we are not leaving and that's not the way, it's not the way this works. maria: well, that's right. that's why mayor adams want

billions more than previously expected, joining me right now all hot tpz all morning long lee carter mark tepper, mark, so much to discuss your reaction. mark: superweird that all of a sudden on may 11 the emergency declaration is going to end when he said this all the way back obviously, in september of last year. and that to me makes it blatantly obvious why all this emergency declaration is in place, in the first place. and that was because it was as loophole a free pass for the government to spend, spend, spend, you mentioned the student loan handouts obviously, that was a -- a key reason that president biden really helped to propel democrats ahead in the midterms. and, topic of student loan forgiveness completing sending wrong message to younger people, you know. basically saying the message that you don't have to sacrifice to get ahead the government is going to bail you out, you know. look. i remember when i was o going to school if you wanted college paid for you could sign up for military, obviously, people for some reason don't want to do that rather sit on couch get government to pay

we've seen in the way of policy, joining me right now for the "hot topic buzz" all morning long mark tepper, lee carter joe concha mark we know that democrats and this white house have borrowed more than five trillion dollars, in the two years, since president biden walked into that oval office, that sends inflation to 40-year highs not to mention stimulus out of federal reserve, i know how she explains it away but she has talking points sticking to them. mark: the plan to when times get tough give people more money, obviously, is inflationary, or possibly for all laid off tech workers have them making solar panels that seems to be their cure-all anymore, timing for all of this economic success talk, is very, very poor especially with inflation still running sky-high. especially, with the recession. potentially happening sometime over the course of the next few quarters, and inflation when you think about it is the most regressive tax in economics. so -- i don't know why taking a victory lap over all the problems they've caused. maria: yeah, well we will see, lee, look, there are -- price o

joining me cheryl casone and mark tepper. cheryl, we know the numbers but the impact has been devastating from illegal smuggling of humans to illegal trafficking of elicit drugs like fentanyl. cheryl: exactly, exactly. now eric adams the mayor of new york city is being vocal and going against frankly the biden administration which i will say is brave and give him that and credit for that. maria: i'm very surprised. cheryl: he has a fiscal problem, maria. it's a money issue. that's what he's aware of. you mentioned $2 billion, new york city right to shelter city if anybody from anywhere in the country whether they are coming from the southern border or coming from iowa, if you come to the city and you say you are homeless, we will give you a place to stay, we will give you health care, we will give you all of these things. this isn't just going to the emergency room, maria, you walk in to a hospital they have to take you to new york city. as tax base flees new york city down to florida because all the crime and the homelessnes

still ahead, martha maccallum, chad wolf and mark tepper plus the school choice movement just took alican governor of iowa signed a bill that allows any student to use public money for private school tuition. parents will no longer be locked into public school. that is great, and it's my take, and it's next. thanks. our. in any business. you ride the line between numbers and people. what's right for the business and what's best for everyone and depends on it. solving today's challenges while creating future opportunities. it takes balance. c l a. c p a s consultants and wealth advisors will get you there. ppe we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless from paying your people from anywhere to supporting your talent everywhere we use data driven insights to design hr solutions and services to help businesses of all sides work smarter today so they can have more success. tomorrow. good luck, okay? td ameritrade. this is anna position is all over the place. help professor subscriptions are down. but that'

mark tepper, strategic wealth. want to pass along details we are getting from the white house briefing, the position on negotiating over the debt ceiling, you heard by the 19th, less than a week away, presumably we will be out of money, up against the wall and no mind to negotiate over the debt ceiling, no one is talking about a laminating the debt ceiling, tying it to spending more present or future spending that this represents money that has already been spent so no reason to do that. that has been the consistent democratic position. that's not a surprise. as you know, republicans just took over the house have a proviso and that that they are going to use spending and the government shutdown is a cudgel to get concessions on raising the debt ceiling which is a way of telling republicans they are different from the white house. when we get to that point we are supposedly up against the edge, the president wants to do one thing, republicans want to to do another and a shut down looms somewhere in between. stay wit

jackie: joining me more hot topic, mark tepper, he called it irresponsible when it comes to president when it comes to him a different story. >> you have the weaponization of the department of justice, they raid the home of president trump, they raid mar-a-lago but when it comes to president biden doing essentially the same exact thing there's no special counsel that's being appointed to investigate it and we go back to the whole russia collusion thing. i mean, you know, everyone came after president trump so, so hard but then the hunter biden laptop stuff gets swept under the rug and censored by social media companies. it's unfortunate that as americans we have to be used to this double standard now. it stinks. jackie: you think about what the president has gotten away with with with respect to the hunter biden laptop and the whole narrative and the whole story there and you say to yourself, well, when it comes to classified documents, i'm not surprised of reaction there because he thinks he's above it. he's above the law. >> wouldn't it be so refreshing for once if any politician wa

jackie: good morning as mark tepper, i read your notes this morning, great minds obviously think aliketh a lot of what you said. one thing that you mentioned the bears seem to be too pessimistic. i 100% agree we as a firm lever to enter a recession this year we believe s&p earnings or get a job by 10% but if the same point time that does not mean the stock market is going to be down this year, the beatable thing about the market it's a forward-looking mechanism so as we entered the end of the year all eyes on 2024 which we are hoping will be a much better year than 2023 but my question to you what is the best strategy for investors right now should they be picking off names along the way or should they wait for second third quarter when the market may bottom? >> a perfect question and that's part of the nuance of the personal and corporate wealth for engineering and largest engineering construction company what i would say to a room full of engineers investing is about being right you would hear audible gas because you can't build a bridge that way but there's nuance to investing so yo

cheryl casone, mark tepper, great to see you this morning. >> thanks, guys. the studio. we've kept everything warm and ready. get on the plane, come on home. watch a movie on the plane. maria: and i'm going to be taking off these gloves, you're right. markets down 242 on the dowvilles, let's send it over to our friends at "varney & company." stuart: i'll take it, 10 seconds early, no problem. i can fill that in just fine. good morning, everyone. it's getting ugly again. another wave of selling hitting the market. the dow, which was down 600 plus yest d

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joining me for all hot topics cheryl casone mark tepper we've sounded the alarm from beginning that letter all intelligence officials signed name to all politics we knew that there was truth in hunter biden laptop was real as well as evidence influence peddling found on it. >> they've done what always been doing deflect from the fact that hunter biden laptop did exist and it was real they redirected everyone's attention to the possibility that mere possibility, of russian interference, that is kind of been their game deflect redirect, but look, we have been saying this for months and months and murns. the number one threat to democracy is censorship, when you think about all of the american voters out there, how is a voter supposed to be able to o properly evaluate potential candidates when the only information valuable is biased information. we need to top politicizing government agencies like fbi, cia doj pop weaponizing them politicking them so americans can get honest and accurate information we can evaluate, potential candidates. maria: yeah, that is why the house -- campaign to put a

joining me for the hot topics strategic wealth partner mark tepper and chief market strategist and princetonpolitical science professor lauren wright, great to see everybody. your reaction. >> he should've never been kicked off the platforms in the first place. obviously you cannot censor and eliminate the account of a major political figure is absolutely crazy that they did that and we all saw the inside scoop at what happened at twitter and we can only assume the same stuff was happening at facebook, and instagram. the pressure from the dnc and the pressure from the fbi to shut down his account and things like that. you go back to twitter twitter had nothing on him at all. you saw the messages back and forth talking about no violation but we could say he was threading the needle. he did nothing wrong on facebook, and instagram. maria: unbelievable. he did instigate an attack on the u.s. capital. >> on facebook or instagram? >> on twitter. >> i'm not disagreeing with that but he did not do that on facebook or instagram at all. >> you can make a great point how presidential candidates need a

bridge he global sector lead for materials and energy, peter mcnally, strategic wealth had partners mark tepper and chief market strategist lou basenese is here. thank you for being here. peter, with the market that is mixed this morning we're awaiting more earnings, american airlines and jetblue will be out any minute and that number when they cross the tape, we'll get to cheryl and get the numbers. we hear lots of earnings news which continue to tell us the that things are slowing down. southwest reported a double beat in the last hour but certainly there is questions about 2023 and how things are going to slow down. we're waiting on the gdp this morning. what are you expecting? >> well, you know, even like with american airlines, we heard from them a few weeks ago. the one thing you need to remember about airlines, they're albeiting on revenue, even southwest, despite what is going on did better on the top line than expected. there is fundamental underserved demand for travel. this is being done on prices. maria: hold on. let me get the airline numbers out. cheryl casone with american airlin

jackie: so great to be with you guys, mark tepper, tiana lowe, so great to be with you. >> in morning jackie good morning, everyone. tthe go shooting all night tryig to agree on a new speaker kevin mccarthy has made new concessions like freedom caucus memory unfree committees the commitment to legislation the freedom caucus really likes and possibly a rule that allows just one gop member to stand up and demand the speaker step down. here is my opinion, this is a power grab, hold out, 20 of them are trying to dictate policy to the 200 moderates. the house reconvenes at 12 noon, there should be a ballot soon after and then we will find out if the overnight negotiation to produce a winner. the republicans have promised to deal with the border on day one. but there's still hung up on the speaker's election and president biden has finally jumped into the issue. he speaking about immigration at 1115 eastern this morning, he's planning a visit to the border next week. the republican house fiasco has given the president an opportunity and he has taken it. solid gains on the market wednesday b

and the president of maslansky and partners, lee carter is here and strategic wealth partners ceo mark tepperee you this morning. lee, your reaction? >> well, a few things. number one, i thi i think that e fact that president biden is in a hummer is a symbol of what people feel of his presidency, that he's out of touch with the average american person. he was running on i'm just like you guys, he was running on uncle joe who gets its from scranton, pennsylvania who took the amtrak and he does things over and over again that lets us know he is in out of touch. first, he's in grocery stores saying there's no issue here, the shelves are fully stocked and then he's talking about the economy, saying it's never been better and now he's in an electric vehicle. when he talks about the tax breaks that come from electric vehicles, you're already talking about a privilege base of people who are able to afford electric vehicles. he was saying people give up yours gas cars and buy a new one. electric vehicles are not cheap. the one he chose to ride here, again, really expensive, showing he doesn't necessa

with hot topics all morning long is fox business' cheryl casone and strategic wealth partners ceo, mark teppercheryl, your reaction? >> cheryl: well, there's a few things that i think are interesting about all of this. first, the hypocrisy of president biden and the team dismissing through karine jean-pierre about the concerns about classified documents being at the home. the other thing i think is interesting in this piece of the story is the hunter biden -- remember, according to the washington free beacon, he lived in this residence before. not only do you have unsecure, classified documents at the home, the question now, did hunter biden haveing assess to those documents, washington free beacon says that is something that needs to be discussed and answered. james comer says i want an investigation into all of this. as you know, he's been getting pushback from the administration and the white house on multiple levels to get answers to who visited that home and when. and they need be more clear. if this is going to be the presidency of transparency and bipartisanship, this is not transparent

also joining the conversation on all the hot topics is strategic wealth partners ceo, mark tepper, princetonscientist professor, lauren wright and fox and friends host, todd piro. zach, i want the to kick things off with you, with the cpi number coming out, you say the jobs data is more telling than the inflation data. what are you expecting on the inflation front and how would you assess the macro story right now. >> good morning. great to be with you. this is a big day of course. we see the last cpi print for 2022. but what we're watching today really is not so much the headline number which is going to kind of be in the news and reported in newspapers and terminals all over the world. what we're looking at is the core number. that's the thing the fed feels like is a better trend inflation number, the one that's been quite elevated. we're going to see gas prices fell a good bit in december. the fed's going to look through that. we're going to look through that as well. we're looking at the core, specifically the core services. that's the labor driven part of the inflation readings and thos

maria: joining me for if hot topics is cheryl casone and strategic wealth partners ceo, mark tepper.heryl, your reaction. cheryl: we're moving on, maria. next question, everybody. i just love this. what we're seeing be in the white house briefing room right now. look, these new photos of hunter biden in the corvette, of course he was driving the corvette. he was living at the house. none of this should come as a shock to anybody. what is shocking is you how this has been mishandled from the beginning, not just the time line which we've talked about but also the fact that it was doj officials going to the house for the document search, not the fbi. who should have been in charge of this from the beginning, the fbi, and had they were not. that's the biggest thing. of course, hunter biden was in the corvette. it's just slop hpy, maria. that's what it comes down to, whether it was the biden penn center or what happened at the house, it was sloppy mishandling of documents that then vice be president biden should have never had be in his possession. he was not president biden. he was vice

high of the morning up ll 200 points, 1697 higher on dow stephanie pomboy, tyler goodspeed andy, mark tepper, cheryl casone, todd piro thanks very much stuart: i'm seizing it, believe me, good morning, maria, good morning, everyone. this is the big one the inflation number that's coming to us right before a fed meeting. here we go. in the last 12 months consumer prices have risen 6.5% and the previous report showed a 7% rate. just as important month-to-month inflation. this tells us the pace of price increases. in december, prices went down, i repeat, they went down 0.1% compared to november. both these numbers, i think are fairly positive. maybe the fed will ease up a little on rate hikes, we shall see. in response, stocks have been extremely volatile. they were up right after we got the number, then they went down and now, we're at a high of the day. the dow industrials looking at a gain of about 150 points, moment s ago it was almost 200. the nasdaq solid, looks like a gain of 66 points. interest rate rises have moderated. the yield on the 10-year around 3.47 this morning. late last year

mark tepper is back. you don't see a soft landing for the economy, do you? >> i don't. i don't. things are looking pretty ugly. you look at that new york fed manufacturing survey from yesterday, that was nasty the, like, -32.9, i think the worst we've seen since maybe 2009, i believe? so, look, this recession, we're not in it yet, you know? maybe we'll enter it end of the first quarter, beginning of the second quarter. once we enter it, we're going to be in there until the fed actually breaks the labor market. so the fed if has to control inflation, the fed has to make sure they properly manage employment. i know the mandate's called full employment, but we are at overemployment right now. we're at a position where employees have a lot of leverage over employers, and capitalism is a beautiful thing. it works so well when the labor market is in equilibrium. but when it's off kilter, all of a sudden it starts to disincentivize businesses from taking risks and the economy slows down, and all those thing kind of snowball. stuart: your going to be with me for the hour, but do you wit

cheryl casone, mark tepper, great to see you this morning. >> thanks, guys. maria, again, can't wait to see you back in the studio. we've kept everything warm and ready. get on the plane, come on home. watch a movie on the plane. maria: and i'm going to be taking off these gloves, you're right. markets down 242 on the dowvilles, let's send it over to our friends at "varney & company." stuart: i'll take it, 10 seconds early, no problem. i can fill that in just fine. good morning, everyone. it's getting ugly again. another wave of selling hitting the market. the dow, which was down 600 plus yesterday, down can another, what, 230, 250 this morning. the s&p also down yesterday bigtime, off another, what would that be, .7% this morning. and the nasdaq the down more than 1% yesterday, down another lee-quarters of 1 -- lee-quarters of 1% today. there's all kinds of problems. a slowing economy, an inflation rate that stays stubbornly high, and the federal reserve that says it's not done raising rates. in short, wall street sentiment seems to have turned very negative

ventures president and chief market strategist, lou basenese and strategic wealth partners a ceo, mark tepperf you this morning. thank you for joining us. tom, i'm going to start with you, talk about inflation, if we go to 6.5% from 7.1%, certainly will be a drop. i'm sure the administration will tout this saying the strategy is working. 6.5% is still very high. >> it is very high. if you look at month over month numbers, i think we'll have less than single digits. i think that's key. most advisors think the fed is on track to keep inflation under control and also not get us into too heavy of a recession. it's all about the data right now. if you look at the long tails, the extremes are we're going to have a tough inflation or is inflation going to get too out of control, advisors are not feeling that. they're feeling like it will happen more in the middle so they're putting more money into the market and we're seeing that with etfs, another record year last year with new etfs and $630 billion of new etfs went into equities and fixed income, really impressive. jackie: when it comes to inflati

here to get the read on all of that is mark tepper, the strategic wealth partner president and ceo. what is interesting -- love having you. thank you. this market went up despite you could argue because of this back and forth in washington? we're so used to the idea of grid locks, democrats and republicans not meeting on the issues. in this case, republicans and republicans not meeting. how does wall street deal with that? >> i don't feel like this is really moving the market too much. it's almost sad, neil, for us to understand that investors may now expect dysfunction out of washington. that might be where we're at right now. i really haven't seen in the short run it's moving much. i feel in the short run, the market will be dick kated by economic data. are we entering a recession. is inflation cooling and what is the fed's next move. however, when we look overing the long run and we look at the impact of what's going on for the long-term, i do think this is bullish for stocks. the symptom market loves gridlock. it loves low inflation. >> martha: . >> neil: does it like this kind

lou, mark tepper, great to see you. stuart take it away. stuart: good morning, jackie and good morning, everyone. a new political fight over classified documents dating back to biden's vice president say found in a closet and at the pen biden center in washington d.c. donald trump asked, "when is the fbi going to raid the many homes of joe biden" that's a reference to the raid on trump's home at mar-a-lago. the real point here is that the documents were found on november 2, six days before the mid-terms, but not revealed until now. why the delay? president biden's in mexico right now questioned about the documents yesterday, he refused to answer at all. today, he's meeting with canada 's leader working on a canada, u.s.-mexico trading block to encounter china and russia's new coziness. climate will also come up. the border, maybe. disney's robert iger is telling his worker toss get back to the office fours days a week starting march 1. ending remote work is a new trend meeting a lot of resistance. who wants to go back to commuting or the co