maria: all too many dollars chasing too few goods mark tepper can you explain this market reaction, what federal reserve in the coming months. mark: i think federal reserve without a doubt is going to hike higher for longer the terminal rate on fed funds rate was 5.2% yesterday i think the fed is going to hike rates to at least 5 1/2 maybe even higher than that, they have to remain hawkish we have serious issues, as relates to sticky inflation i already mentioned. but maria, you mentioned goods versus services a few times we are seeing, goods inflation start to slow, but services inflation is still red-hot as i mentioned 75% of our economy, one of the key things to note with this january reading is that this is when bls adjusts ratings in calculating cpi you looked at energy autos lower awaiting shelter pieer weighting in cpi shelter sticky going to remain sticky foreseeable future the last thing i want to mention is where is pete buttigieg when you need him? to call out groceries discriminating against lower income people because that when you look at -- at like, at kinds of foods that

maria: a great point mark tepper i am watching shelter, wages okay. portant in markets weigh in. mark: shelter wages food obviously, the sticky component of inflation, have when we look at the q4 gdp number, as i am kind of going through data here, ask consumption was pretty strong up 1.4%. there was a big inventory pull forward contributed plus 1.5% housing was negative, so, you know, i think what we're seeing is that the consumer despite all challenges has remained fairly resilient, we are starting to see fraying around enlz to consumer we know consumer draining bank accounts is reaching for credit cards for spending we know that interest rates on credit card are going up, makes the servicing payments higher we know delinquencies on the rise, so the consumer is challenged the consumer has still been able to tread water an keep its head above water but some point that is going to come back down to earth, to your question earlier a, to jon, about how important is this number, in the 2024 presidential race. we got to watch momentum, right? because if th

let's bring in mark tepper. mark's going to be with us for the hour.good morning to you. >> good morning. ashley: look, it's interesting, isn't it? good morning. very strong retail sales seemed to surprise everybody. we just got home builder confidence, that is moving on up. this is an amazing, resilient economy especially from the consumer point of view. how does this play are into the mix as the fed, you know, decides its next move? >> it looks like the fed's definitely going to be her and more hawkish. i think the fed fund futures are pricing in an additional two and a half hikes, think it's probably closer to three to four more hikes and then a long pause before they begin to cut. but it seems like the market with the exception of today, the market has been pricing in, like, this best case scenario for stocks. specifically, a best case scenario for those profitless tech stocks that we talk about so much. not a soft landing, but a safe landing that's just bumpy enough to cause a little bit of fear which would then cause the fed to cut rates. however

mark tepper, was it -- >> got nothing on this one. i will go with woodrow wilson.our. ashley. >> i have not a clue. go with number one to be different. lauren: teddy roosevelt. we're all wrong. woodrow wilson. ftc was created on september 26 back in 1914. we have a "fox business alert." powe "politico" reported ha transportation secretary pete buttigieg will visit ohio 20 days after the train derailment. that is it for "varney & company." "coast to coast" starts right now. neil: forget what do you b

on spending cuts, in the face of all of this joining the "hot topic buzz" all morning longleyly mark tepperning us the rest of the for you outnumbered co-host offer of faith still movers mountains harris faulkner here great to see you. >> great to be here. >> i thought cbo commentary alarming we know we've seen so much spending 5 trillion dollars borrowing in last two years, has now talking about a doublings of this debt. >> i am wondering who is is important to it is a swamp i know you were working there on capitol hill for many years, but kevin mccarthy, speaker of the house, has some leverage now. and i understand, we're not going to default on the debt payments that we need to make, just the interest payments, but a lot, i get that. but republicans may never have this kind of leverage again you're nodding to me i think you use this come up with creative ways to do it speaker mccarthy very creative person they've got to do this a democrats have no hunger or this the not to spend that means if somebody doesn't fight it become swamp taftic 4-7 everybody teams spending we go into debt we wi

joining he me for the hot topics all morning long is strategic wealth had partners ceo, mark tepper, deputy editor of restoring america for the washington examiner, kaley mcgee white. great to see you this morning. thank you for being here. we've got a miss on home depot, mark. stock is down. we shouldn't be surprised. we have had all negative signs from housing, many people think housing is in recession right now. your thoughts. >> it definitely is in a recession. anything below 50 is recessionary. i don't think it's very surprising that home depot's issuing muted guidance for the rest of the year. it remains to be seen whether or not that's going to infect the rest of retail. we'll see as these other big retailers start to proked vied us with their earnings, with their guidance. but without a doubt, housing's in a recession. we are looking at the most unaffordable housing picture we've seen since like 2006 or 7. consumers are starting to tighten their belt buckles a little bit. maria: they're talking about a flat showing going forward which is another negative here. no expectations

maria: mark tepper, jumping, then the earning story, are we in a profit recession with fourth-quarter but during a calm alibaba, dr pepper all of before the bell and then you have car and earnings rece. >> the earnings at the market looks at or slightly negative year-over-year but will we talk about gap earnings we talked about this last week, that was down 20% year-over-year. we are definitely in earnings recession. i was reading chris's notes this morning pre-he made a comment how investors continue to run in and buy the dip because their condition to buy the dip ever since 2009. we've been in the easy money regime. i have been referring to that as short-term memory they only do what they did when they knew how did you last year end the year before. i would love for you to talk a little bit about that. >> that's a really good point. recency bias is something that affects all investors and i think you're exactly right to the extent that we have easy money for so long, interest rates close to 0, quantitative easing on the scale of trillions and trillions of dollars, the fed balance go

mark tepper joins me now. mark, good morning to you. you know, yesterday's session was interesting.e get jay powell talking about disinflationary process has begun. everyone got so excited. maybe he's going to pivot, but not really. you believe there's a ways to go , right? >> yeah, and you know what's interesting? so yesterday, jay powell, he acknowledges disinflation and ashley, it's the same exact thing we've been talking about for months now, which is we are past peak inflation. same exact concept. he just worded it differently and the market got, you know, all excited and rallied yesterday, which is just pretty crazy if you ask me, but no, i think things are going to continue to deteriorate. i feel like inflation was last year's story. this year's story is the coming recession and investors, unfortunately, are out of position for it right now. ashley: you know, you pointed out too, which is very telling, is the core pce still at 4.4% which is more than twice the level that the fed wants it at, so that should give people a clue as to we've got a ways to go, right? >> we have a l

. >> mark tepper kaylee mcghee white, mark time that we actually saw people in northern border ayou've got agents at south get in on. mark: they roif they can go through canada come through northern border our response topull agents from southern borrowed completely idiotic we need to secure both borders all our borders, obviously, especially after the china spy balloon came in, through our border viaair space the biggest thing that surprises me about all this when you look at president biden,i take a guy who who has a recovering addict as a son, and he has shown no interest in securing the border, and in stopping influx of fentanyl, remember he made that comment not too long ago nobody screws with bidens something along those lines maybe used a swear word in there popularity not apparently he is willing to allow his family to be at risk, if it means get votes because that is what this is all about there is ulterior o motive whereby democrats want votes view migrants as ideal voters for them. maria: kaylee how do you see it. kaylee: complete overwhelmed i am great lakes from south to n

the hot topics mark tepper, lee carter, mark workplace your reaction of this quiet change in the numbersstry has pushed back on this misinformation that joe biden keeps spewing out about oil companies. mark: the biden administration, is insisting this was an error because they want everyone to know they are just incompetent not dishonest as well when you look at interview with chevron ceo, this is you know the whole permitting process it is not a one and done deal there are several permits a long complicated process that oil companies have to go through. beyond that might not economics of drilling on that federal land just might not make sense, right? might be cost prohibitive, beyond that you have the fact oil industry in general, he has been in this administration's crosshairs since day one i mean in state of the union speech president biden said, we need oil for 10 more years? really? that is it joe? 10 more years? it makes it very difficult for energy companies to investment for the long run when they might die three, five, seven years from today makes it very difficult. maria: that

reported, will report, by the way, after the bell joining us ershares ceo joel shulman hot topics mark tepper liz peek the rest of the show, sam waksal great to see you. thanks so much for joining the conversation we've got a lot to talk about on medical breakthroughs with you, joe welcome good to have you your take on all this, what did you assess the earnings period for us so far how do you see it? >> green light for tech, i mean we haven't seen many months maybe couple years since big gap premarket between dow, value, oriented deduction down, tech up 1 1/2, as you point out i mean about a 2%, gap between, value and growth. tech hasn't really performed as strongly as i think it willor can in the weeks to come obviously, today after market, going to be a big day, but being up close to 20% kicking things off a big move they were they are 150 stock 150 dollar stock, 1 months ago closer to 320, a lot of room to grow. maria: mark. mark: i want your take on you know a lot of people are predicting a profits recession this year if looking at screen right looks like earnings season so far earnings a

strategic well partner mark tepper and bellpointe strategist david nelson. david, welcome.t to kick things off with you with mixed market. dow strays down 137. it is the busiest week so far for fourth-quarter earnings. meta last night. check out the move this morning. up 20% in the stock. 40 billion-dollar stock buyback. but we really are zeroing in this morning on the largest companies by market value which will be reporting tonight after the close. apple is the one i'm most interested $2.3 trillion in market value at apple. and investors are going to question if this january rally was justified now that we have earnings coming up. >> i think what we are learning everybody is stepping over lower bar. estimates are down probably 20% from where they were a few months ago. this is a much of report card on analysts how good or bad they did at getting the numbers right. in the case of meta, obviously i thought the line item that caught my attention was the expense line. that is what drove the shares. mark got the memo. apple is the most interesting because it probably has tough

joining me strategic wealth partner ceo mark tepper and capital management founder shana, great to see guys this morning. ththank you so much for being here. shana kicking things off with you with market that's trading higher the final day of february this morning. we have a market that is down for the month of february, about 1% plus, but still up for the year on nasdaq and s&p 500. how do you think this year is playing out? would you be a buyer of stocks here? >> i am not a buyer of stocks here. i think that the federal reserve is going to be more aggressive in their stance after we've had some sticky inflation numbers. the job market has been quite stable which is really making the fed more emboldened to be more aggressive and higher for longer. i would like to see that play out in next two meetings before i would be a buyer particularly tech stocks and risk-on assets. right now i'm more defensive in my positioning. maria: do you think we will see a recession? target reported double beat on earnings and renew. the guidance was below expectations. pretty sharply below expectations an

kathy joining us, mark tepper with us all morning long. we are grateful. break, gop demanding answers in the origins of covid-19, whether taxpayer was used to support research. congressman brad winstrop is here on why he says this is one of his priorities. ♪ ♪ ♪ moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead t

mark tepper here with us. does this worry you, the layoff news that connell outlined?neil, great to be with you. neil: same here. >> i had a big client event last night, and the number one question was, mark, we keep hearing about company after company laying people off, yet the unemployment rate is actually going down. i mean,st at, like, a 53-year low. so what, where's the disconnect? and what i'll tell you is there's a few things at play here. number one, the average severance package, when you're looking at finance and the tech industrieses, it's 12 weeks. so i do believe that, you know, over the course of the next several months we will start to see some of these layoffs actually ripple through the economy. and then when you even look at, you know, the 3.4% unemployment rate, we continue to lose full-time jobs while adding part-time jobs. the average hours worked is trending down, temporary staffing is falling off a cliff, so i am worried. i do think over the course of this year we will see the unemployment rate start to tick meaningfully higher probably by the su

joining me is ann barry and mark tepper. great to see you this morning.ou for joining the conversation, ann, we've been talking about markets this morning. i want to get your take on what's going on in the macro story first many we have the gdp coming out in afternoon hour, meta reportedly planning to cut 1,000 more jobs a week after mark zuckerberg said he didn't anticipate any more layoffs. the stock is up this morning. we are seeing more layoffs and talk of cutbacks within tech. google is asking employees to share desks. they've got plans to down-size and now are asking employees to get on board. sharing desks so they can down size there as well. your take on what's going on with jobs? >> maria, i actually am concerned that the tech layoffs are getting a little too much focus. if you look more broadly, other sectors are hiring strongly. tech is doing something that hospitality and retail did during the pandemic which is cutting deep because of uncertainty. tech has the window to do it. maria: the jobs numbers have been real strong. 517,000 jobs created

joining me strategic wealth partner ceo mark tepper an

mark tepper, thank you. we're out of time. guess what?coast to coast" will start right now. >> you got all these toxins, all the chemicals, basically, that is going to cause cancer. we've all been exposed. it is not a one mile thing. >> i got out and smelled like really, really strong paint thinner. then his eyes turned bloodshot. he started coughing. i said yeah, we're leaving. >> i could smell the chemicals. it is obvious something is not right. >> going into the waterways, into the ohio river. this is just, it is not a small thing. it is going to affect more people than just this area and it is very scary that we don't have the answers that we really need for peace of mind. neil: all right. you've been hearing a heck of a lot of what it is like to live there. how would you actually be one of the residents who is dealing with all of this there? we're going to explore that here. take a look where this is boeing in palestine ohio as they get ready for big meeting tonight on derailment, chemical mess and everything else gone horribly wrong

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joining me now for all the hot topic morning, mark tepper and liz peek. mark, you live what 50 miles from the disaster in ohio? >> yeah. maria: have you heard anything from our transportation secretary again? >> no, come on. the guy has been a complete no-show since he took the position. east palestine, about 50 miles from where i live, that definitely hits close to home. i know there's also been other train derailments as well, but that one in particular, i'm no environmental expert by any means but i have heard experts compare to it to chernobyl which is not good and i heard one in particular expert say that we basically nuked a city with hazardous chemicals. there are dead fish in the river, there are dead animals on farms, chickens and things like that. obviously this is something that's going to have long-lasting effects and this got pete buttigieg nowhere to be found. he comes from being a mayor. he's used to fixing potholes, this is way above pay grade. >> i don't think he fixed any potholes. yesterday trending on twitter was where is joe, meaning w

still ahead, martha mccallum, kt mcfarland, de roy murdoch and mark tepper.s up next. ♪ ♪ ♪ >> achievement was my personal ticket to get ahead this country. we need to revive that ideal. i think running for president is the right way to revive merit, to put it back in america. >> i do think we need to provide more of the advanced withinly they so desperately need. st the absolutely in the u.s. interests to support them, the only way to get peace here so to the defeat russia. >> i want us to be able to know with, you know, full absolute truth what is actually happening, what it would ache to win, what because winning mean. i don't think we have sufficiently had those questions answered. >> we need this market to price in a recession, and by june it'll be crestal clear tha

joining me right now with all the hot topics is strategic wealth partners ceo, mark tepper and columnistcontributor, liz peek. mark, your thoughts. now the jokes are starting about aliens out of the white house. i guess to sort of cover up the fact that they're still not giving us any information about the communist china surveillance program in place. >> look at the connection betweenbetween john kerry in das talking about extra terrestrials and now we find this. the condescending tone from the administration, the lack ofs trans porn patransparency is no. this whole situation, what it's done for me is exposed how backwards our priorities are. i mean, you look at all of the weapons and ammunition that we've been sending to ukraine while at the same point in time we're not protecting our own borders, our own air space and that is a big issue. at the end of the day, the administration wants to stick to their playbook and say have no fear, no big deal, diversity, equity, inclusion, that's alive and well stimi checks are prepresentful. the world is great, who needs national security and defe

joining me right now with all hot topics mark tepper and hailey. hailey, your thoughts? >> what's so striking about what the mayor of east palestine, ohio said, it reminded me something that president biden said in state of the union a couple of weeks ago. he made a point about howknow wd have been the perfect opportunity for biden to prove that he meant that and instead he has left these people out to dry and i think it's so easy for us to forget that we are talking about a very low-income area. these are blue-collar workers. they can't afford to pick up and stay in a hotel for the next however many months. they don't have remote jobs. they are manufacturing labors and so they are completely dependent on the government and biden administration for assistance and the lack of that is troubling. maria: yeah, it's very disturbing and unfortunately we've got more chaos everywhere you look in this country. i just want to point out that wal-mart is out. it looks like it's a beat on earnings, we want to get the details with cheryl right now. cheryl: i have the numbers, maria, g

mark tepper with me this wednesday morning. are you -- i don't think you're on board with these january rallies, are you? >> i'm not. i feel like a lot of people are getting suckered in by this rally because of the profitless tech names that are doing very well. but when you look at higher quality names, they seem to be underperforming. there's this january barometer thing the saying as goes january goes the year. stuart: yeah, you're not buying it? >> no, i'm not. when we're up in january enarching going back to 1950, the market ends the year up 17%, that would be phenomenal. i don't think there's any chance that happens. right now we're at a point where we're about to see the unemployment rate start to go back up. when that starts rising, you want to be defensive and the two best performing sectors are consumer staples and healthcare. now is not the time to try and hit home runs. hopefully that time comes in the summertime. right now we want to avoid strikeouts and bet on base. stuart: if the unemployment rate goes up and the

because you've got a spiraling out of control, of market performance, we will keep a spotlight on it mark tepper, lee carter great show have a good day we see you tomorrow markets up 72 points on dow industrials, "varney & company" up next take it >> good morning and here we go, the ever-growing threat of china, is front and center in the news today, florida governor ron desantis, slams what he calls, china's covid-19 cover-up to buy any said that the u.s. response is a major failure and president bidd that there is no consensus as te origins of the pandemic but he also said that you have a president who will get to the bottom of this and news today is that china has started building, thousands of fire plants cold vastly increasing cot emissions and they will not sacrifice for climate change and are they are rivalry enemy to the markets, yes a modest gain for the stocks and medicament to begin today, vidal looks like it again of 70 points at the opening bell, and 16 from the nasdaq in the interest rates and aging ever so higher and neil is now 394, and into your coming in the summer ejected was

joining me all morning is strategic wealth had partners, mark tepper, liz peek and author of companyules or everything i know about business i learned from the cia, mike baker is here. great to see everybody this morning. >> good morning. maria: thank you for being here. mark, your reaction to what we heard yesterday, kevin mccarthy and the be president. >> first things first, i think the timing of this couldn't be any better for president biden. it serves as a distraction for the classified documents, corruption. maria: that's a good point. >> all that stuff. with regards to this whole debt ceiling debate, we obviously need to rein in all the reckless spending. we can't stick our kids and grandkids with the bill. one of the main issues i have with the debt, 50% of our government debt is going to come due over the course of the next three years. it's going to have to be refinanced at higher rates at a time when the fed is no longer buying, china is buying less, japan's buying less. we have issues there. typically, once net interest costs exceed 15% of tax revenues, we're at 12% right

mark tepper, kaylee mcghee white, thank you so much. appreciate you being here. we've got a market that is under selling pressure, down 341 points right now on the dow industrials, one hour away from the opening bell. is -- the tone was set with those weak reports this morning on retail, home depot and walmart both disappointing with their guidance saying the consumer is challenged. nasdaq right now down about 150, and those stocks are down 3 and 4 percent right now. have a great day, everybody, we'll see you tomorrow. very "varney & company" begins right now. stuart: good morning, everyone. dueling superpowers going toe to toe. in moscow vladimir putin suspends russia's participation in the key nuclear arms treaty. he's talking nukes on the each of the ukraine war anniversary. in poland in a couple of hours, president biden will speak about american weapons to ukraine and poland's requester request for -- request for american troops in poland. he will respond to putin's rant. and then there's china. they may provide lethal assistance to russia. their top diploma

christine mcdaniel with, congressman bryan steil,my concern michele tafoya, mark tepper, liz peek, thank you so much. seize that day, "varney & company" begins now, ashley webster in for stu. ashley: we are seizing it. good morning, maria, and good morning, everyone. i'm ashley webster in today for stuart varney. well, yes, the latest read on inflation coming in at 6.4% year-over-year and 5.6% higher for the core cpi year-over-year. now, the futures initially turned negative after that report, then we saw a quick rally, and now, well, as you can see, they are flat. a little bit of everything. the dow and the s&p slightly higher, we'll just call it flat across the board, nasdaq down just a little bit. now to the news, we're learning more now about that train crash in ohio. turns out there were more toxic chemicals on that train than originally thought. so where is transportation the secretary the pete buttigieg? well, so far he's just tweeted about it, but he is focusing, apparently, on white construction workers taking jobs from communities of color. we'll get into that. the white house

joining me right now, former new york congressman and gubernatorial candidate, lee zeldin is here, mark tepperhe new york post political reporter john levine joining us as well. great to see everybody. thank you for being here. >> good morning. maria: this disaster is you really scary, lee, your thoughts on what's taking place in ohio. >> people want answers. they're concerned about their own health. when you get that bill of health claimed by the government just days later, there's that skepticism from the community and they want people in government credibly to appear before them and answer questions. and what they don't want is this punting. we can talk about the train derailment and secretary buttigieg trying to blame the trump administration. we'll talk spy balloons, say it happened when trump was president as well and this isn't what the average american in these communities aacross the country want. they want people to be accountable to them and to answer their questions and to make sure that there's nothing that's missing of these opportunities to deliver leadership. maria: they're wor

maria: we so appreciate all of you, congressman jodey arrington to, stephanie pomboy, mark tepper, cheryl casone. we've got a market that is up 65 points on the dow jones industrial average, "varney & company" begins right now. stu, take it away. stuart: good morning, maria, and good morning everyone. the transportation secretary has finally arrived in east palestine. he's not happy about it, but the pressure was mounting. twenty days after the derailment, he just had to go. donald trump went yesterday and told residents the biden administration has abandoned them. there's a pattern developing here. the biden team is often late to the game, and they're late on this one. the russia-china alliance is firming up. the two will conduct joint military the exercises week off the coast of south africa. the nato chief, generals stoltenberg, believes china will supply weapons to the russia. that will cross a red line. putin confirmed that china's leadinger will be visiting -- leader will be visiting russia. >>> to the markets, limited price action wednesday. something similar to that today. dow's u

mark tepper, was it -- >> got nothing on this one. i will go with woodrow wilson.auren: woodrow wilson. fdr, number four. ashley. >> i have not a clue. go with number one to be different. lauren: teddy roosevelt. we're all wrong. woodrow wilson. ftc was created on september 26 back in 1914. we have a "fox business alert." powe "politico" reported ha transportation secretary pete buttigieg will visit ohio 20 days after the train derailment. that is it for "varney & company." "coast to coast" starts right now. neil: forget what do you buy, more who do you trust? investors had huge losses that wiped out the market gains. the search is on someone to come to the rescue, simply believe n it is not come in ohio. residents don't buy reassuring words from authorities everything is fine. it is not coming out of russia where vladmir putin was well, walking out of a nuclear arms treaty we trusted all signees to uphold, not now. or to china xi xinping seems fine with that. so much so he plans to visit russia to tell putin himself he has his back and something else, weapons to k