julia pollack, is stephanie pomboy, steve moore, jerry storch, john loan i sky and, of course, cheryl we've got a market that is down, roping today after -- reopening today after being closed for the funeral of jimmy carter. the nasdaq down 235. the market opens in 30 minutes' time, and i will see you tonight at 7 p.m. eastern. "varney & company" picks it up. institute stuart good morning, everyone. just a half hour ago the jobs report, and

stephanie pomboy saying you're progress that's ick about these, that's guessing. >> oh, man.h, absolutely. hey, tongue-tied and twisted. these, you know, i don't know what it is that makes people feel they have to undertake this and maybe i'm lazy and recycling the same stuff i was doing last year. all last year the defective rate increase was going to create real dislocations and stress for highly levered companies and consumers and saw the largest number of corporate bankrupt and firing and the largest number of credit card delinquency and consumers in the team period a. modest victory lap and seeing impact of higher rates butt didn't bring down the averages, and stock market thumbed its nose at this deterioration and credit quality and this year will be the year when the reckoning comes and obviously the backup and yields and really significant and fun to note that fed has cut rates 100 basis points and bond vigilantes raised them 115 and the fed as gary mentioned are basically they've been pushed to the sidelines and the bond individual leeanneties are in charge and i don

julia pollack, is stephanie pomboy, steve moore, jerry storch, john loan i sky and, of course, cheryl casone. we've got a market that is down, roping today after -- reopening today after being closed for the funeral of jimmy carter. the nasdaq down 235. the market opens in 30 minutes' time, and i will see you tonight at 7 p.m. eastern. "varney & company" picks it up. institute stuart good morning, everyone. just a half hour ago the jobs report, and oh, what a shocker, much, much stronger than expected. 256,000 jobs added to the economy in december. the unemployment rate coming in at 4.1%. market did not if want to see a strong the job performance. it probably means no rate cuts in the immediate future. so let's see how investors are reacting. the dow off over 300 points at the opening bell, and the nasdaq down about, what is it now, 255 points, well over 1% down on the nasdaq. here's the big problem. interest rates. they're going straight up. the yield on the 10-year coming in at 4.77%. say good-bye to mortgage rates coming down. they're going to go up. the 2-year yield withs well ove