tv Varney Company FOX Business February 23, 2022 9:00am-12:00pm EST
>> thank you for joining us. patrice and branded it was great to be with you. thank you for being here. have a great day, "varney & company" begins right now. david asman and first deal. >> good morning i am in for stu stuart varney. new sanctions against russia, more russian tanks are steamrolling in eastern ukraine. ukraine is expected to issue a state of emergency at any moment. we are live in ukraine throughout these three hours coming up. also coming up a family separated by the fear of war. we will talk to a woman the flood ukraine with her three small children.
her husband stainback to help with evacuation efforts. you will hear her story live. take a look at futures rallying after the s&p 500 closed into correction territory the dow premarket activity of 239 points. s&p 500 up 3450 and the nasdaq a big premarket lead of 158 points. all bets are off when the market begins to trade in earnest. the treasury yield is closing in on the 2% mark that hit last week it is up three basis points. bitcoin is gaining slightly up $1080 while below 40000. in fact below 39000. take a look at oil up $91.92 a barrel. and candida bank accounts or freedom convoy protesters are being unfrozen. about 210 bank accounts linked to the protesters or supporters worth an estimated $6 million
was frozen under trudeau's emergencies act. here in washington, d.c. mayor bowser over chaos of checker protest here. she issued an alert to residents to contact the police if they hear or see things that appear out of the ordinary. the national guard is on stand by. is this an overreaction i'll be asked again pete hegseth. he's up in our next our. february 23, 2022. "varney & company" is about to begin. ♪. david: on top of the world. it is warming up today it doesn't feel like winter but that is okay with most of us.
let's get to the money futures are rallying after yesterday's selloff that saw the s&p closing correction territory. lauren is with us, good morning. >> i think the fact that stock was down for four days in a row and the s&p closed 10% from january hi and then u.s. sanctions plus the eeo, germany, australia, canada, japan, freezing the nord stream 2 pipeline. i don't think sanctions to deter prudence plan at this point. >> it does not appear that way. >> ukraine declared a state of emergency, 3 million citizens and russia to leave the mobilized reserve troops. the dow is up to 24 points. a federal reserve hike in 21 days at their march meeting is 100% chance for the fed fund futures. i think it is baked and investors are not scared of at the moment.
david: will they go the full half percentage point a lot of people suspect they may be less likely to do so. shaw gulati joining us now. great to be here. i'm wondering if you think the cost of the war and europe could cause the fed to hold or pullback on the anti-inflation plans. >> first of all, it is nice to see you. any theater action in ukraine is going to cause the fed to hesitate on a 50% basis point hike i don't think they were plated on the 50 basis point hike. if there was any thought of it it's out the window now. 25 basis point hike in march is what were going to see. that is baked in the markets are looking at that today but the futures are up anticipation there is no way it would push interest rates higher given a potential war in the area. that does not mean the fed is not going to stay the course.
i think they will, if this escalation does happen napoli what we will see is another flight to quality that will bring treasury prices down, that gives the fed some room. i think they get to stay the course with whatever the plan is which is 25 basis point hikes probably at every meeting this campaign here. david: could they reverse their plans to stop buying treasury, could they continue not to march and beyond. >> that's an open question they haven't announced any forward guidance on what they're going to do with the balance, that is disturbing investors, the unknown and whether or not that will be the mortgage money in other words the fed is still buying at this rate. >> there still monetizing the debt. >> 40 billion and borja mortgage-backed if they stop that mortgage will get more expensive and we have a problem
with housing located little lofty. i don't think they get to do that i think they're gonna stay the course and whether from the balance sheet that will be secondary to raising rates. david: expects more inflation. >> yes especially if we see escalation in ukraine begin to see commodities continue to rise in energy prices rise and that doesn't do well in terms of future expectation on the inflation front. david: enjoy the beautiful sunshine in the free state of florida. good to see you. i appreciate it. let's take a look at the price of oil were below $100 per barrel mark. president biden's warning about gas prices going up because what's happening. lauren: hundred dollar oil possibly j.p. morgan say $120. that's what were watching for. that's a good gas prices 3.50% what you're paying to fill up in
california it is a record high, $4.75. the worry a could get worse. here's president biden. >> my administration is using every tool at our disposal to protect businesses and consumers from rising prices at the pump. the finding freedom will have cost for us as well and at home. we need to be honest about that. as we do this i'm getting take robust action to make sure the pain of her sanctions is targeted the russian economy not ours. i want to limit the pain of the american people feeling at the gas pump. this is critical to me. lauren: there is a call to cut the federal gas tax this year. past emergency reserves. it is a temporary fix to policy that is completely attacked our domestic industry. the need for oil could potentially force a bad iran
deal. david: 18 and a half cents per gallon, think of a dollar 50 or $2 going up. it is something but it's not that much. lauren: it is a band-aid. david: it is a band-aid exactly. the biden administration claiming to look for the root cause of problems, so they say in that spirit. we offer larry kudlow's explanation for the root cause of putin's lawless invasion in ukraine. >> mr. biden's energy policy are utterly self-destructive to america. they have directly empowered putin and all of putin's crazy a historic romanticize inaccurate visions of history. russia is a nothing timer economy but as the late senator john mccain put it years ago russia is like an old gas station masquerading as a country and biden's anti-oil policies are enabling putin to raise gas station prices.
david: ron johnson republican from wisconsin joined me now. great to see you, did you agree with larry. did the president biden's destruction and bolden putin? >> i think basically all the president biden's policies have emboldened putin. i agree with ronald reagan, not just military strength economic strength. when you take a look at what president biden has done in the democrat government and policies have done they canceled the keystone xl pipeline and sanctions on the nord stream 2 pipeline. they opened up our borders allowing a flood of illegal immigrants to be dispersed along this country. the deficit spending sparking seven and half% inflation the embarrassing surrender to afghanistan. across-the-board democrat policies, the biden of administration policies have weakened america and that emboldens our enemy. people like president xi jinping, they are optimistic they notice these things and they become aggressive and they
take action. as a proximate cause. let's not forget how far back this goes. hillary clinton from the steele dossier involving michael sussman to create a false negative against the trump campaign and trump administration. spying on trump. democrats have divided america on this issue with our relationship with russia and ukraine. let's put this into totality, democrat policies have been disastrous like it this moment. david: keeping on energy for the moment. even as the president is hoping to find some way to bring prices down. last thursday the federal energy commission which has a majority of democrats that were appointed by president biden announced they will do more to stop pipelines, natural gas pipelines. we were hoping to use those
pipelines to take gas down to our ports where we can turn them into lng and send them over to europe, we won't be able to do that now. >> divided the administration democrat policies are what is costing american consumers dearly. it is there policies. they want to blame putin and putin will shed the blame. it's tragic the courses taken. but the fact that the prices are higher is primarily caused by what the biden administration and democrats war on fossil fuels. i hate to tell them we are a fossil fuel driven world economy read that socket a change for years and if you deny that and push green energy before the economic you're gonna drive up the cost consumers. you will increase like inflation. >> it is happening we have to acknowledge the root cause, the biden administration is democrat government and policy. that is the root cause. david: good to see you, thank you very much. we appreciate it. let's get a quick check on the futures they are trading up on
the bottom right of the screen. the dow futures up 222-point nasdaq is way up over 1% increase of 155 in premarket activity. we will see if that holds up when markets opened in 19 minutes from now ukraine bracing for an invasion by russian forces yet democrats have spent years downplaying the threat from russia. rotate. >> the biggest political geo threat is russia, not al-qaeda you said russia. the cold war has been over for 20 years. >> were all over the angle. russian lawmakers given putin the rubberstamp to use force outside of the country does this mean he's preparing for a wholesale invasion for the rest of ukraine. i'll ask general jack keane, he is here next.
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first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen.
serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. david: vladimir putin received permission, as if he needed it from his government to use force outside of russia and now ukraine is telling its citizens to leave russia. amy kellogg is in moscow with the very latest. what is the very latest. >> people here in russia are getting anxious about what all this means for them of course. in the meantime new satellite imagery of further russian logistics teams, soldiers and a whole lot of hardware being placed upon the borders with ukraine provided by max our technology, satellite company that we relied on its an american company but they have
been putting out the images of russian troop deployments all around the borders of ukraine for the last few weeks. the latest shows new troops, tents, shelters and field hospitals. defender of the fatherland day in russia. their version of veterans day. vladimir putin in defense minister of the unknown soldier on this gray and drizzly day on moscow. on the occasion president putin put out this on the common website he said our country is always open to a direct and honest dialogue and ready to search for diplomatic solutions from the most public issues. i want to repeat russia's interest in the security of our people are unconditional. we will continue to strengthen and modernize our army and navy and increase their efficiency and provide them with the most advanced equipment. finally russia's main tv channel has made up a graphic of the map of ukraine reflecting putin's narrative laid out on the
address to the nation of the timeline of the color-coded map from the 17th century and it should ukraine as a small yellow center of this large map. the other part which included crimea and don bass in other parts of the country are labeled as gifts by stalin, gives by the stars and gifts by lending to ukraine. that is furthering his narrative and what people have been saying that this is not just about nato expansion this is about ukraine. david: thank you very much let's take a look at the map russia has forces surrounding ukraine from three different sites. retired four-star general jack keane joined me. thank you for being here. yesterday a big deal was made by germany's temporary pause of certification of the nord stream 2 pipeline. i wonder if it's that big of a deal for putin. it doesn't seem to stop his multiphase game plan.
>> no. what we have to underscore and remember the biden strategic policy when it came to deterring russia was to threaten them with sanctions to come in that would deter russia from conducting innovation. while we now have the invasion russian troops are in the occupied territories preparing for advancement. obviously the policy has failed miserably. that's where we are. i don't think there's any amount of sanctions right now that will deter putin from doing what he intends to do with ukraine and bring under exorbitant. sanctions i'm all for tough sanctions. they can impose cost in their retribution and punishment and they also demonstrate the scale of the international violation and how and reprehensible that is and we get ever the people
involved. it's naïve to think any amount of sanctions that we will do now will deter putin from actions he is going to take in upcoming days and weeks. david: you spoke in the past about his multiphase plan that he has for taking over. has it been in effect for a while or is he changing is the world situation changes. >> i think what putin has put together is a deliberate multiphase military campaign. as certain conditions are given options at each phase. phase one has taken place he moved russian forces into the occupied territories and the don ross region. in the unoccupied where much of the ukraine military forces are concentrated. he is building up those forces to launch an attack in phase two against the defending ukraine military forces and the rest of the region.
that is the phase that we are in right now. that is most likely option. also possibly in phase three will go to the south and build the land bridge to crimea brady as the as an option or he'll go further west. paid more than likely some kind of pressure put on kyiv to topple the government. he has lots of options associated with that. this is a very deliberate multiphase military campaign that gives him options at the completion of each phase in terms of what is going to do. david: we only have 20 seconds a black seaport of odessa must be key in his plans. it's right next to crimea which he already controls that would give him another port to offload a lot of equipment into the country what about odessa?
>> certainly it's one of his considerations. it will fall eventually. that is in the dontesk region. also odessa is a major port is one of his plans likely to cut ukraine off from the sea. that would be a huge economic blow as you know to ukraine. so much of their economy is riding on imports that they receive from the boxy and also their experts. that is a military objective more than likely. david: great to have you with us jack keane. we really appreciate it. let's get a check of the features. after yesterday's horrible day on the markets. today is a bit of recovery from what happened yesterday or is setting itself up the dow jones industrial engine 37 points. nasdaq up although it's losing a tiny bit of steam up 148 points. we'll see if that holds over the
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david: checking features, setting up for a good day after yesterday's debacle the dow jones industrial dow jones losing a little bit under 1% gain in premarket activity. let's bring in eddie, close and correction territory new markets get worse before they get better. >> unfortunately things will get worse and potentially much worse as we look into the next two quarters. my twitter handle is common sense for a reason there is times to be bullish in times when the set up is so bad like we warned investors in november and december that you have to become more bearish and transition out. when you look at the set up that we have. the bond market and high-yield is telling you it's an environment, it's a risk off
environment. consumer sentiment continues to plummet. the fed hasn't started tightening. the economy is slowing down in my opinion much faster than the market is coming in. if the fed is as aggressive and tightening, god help us. his get a break the bubble that happened from all the money printing speed when the fed is very much a political institution that they would like to admit. they're sensitive to what is happening in europe. they realize there is a spike in oil prices even more than we've already seen because of the war on fossil fuels from this administration. i do not think they get to be as tight as they were planning to be, do you? >> i do not you have that working in regards to that in the pay attention to the market. militate convince me of the s&p 500 is down 20% that they will tighten into the environment. if they do it's reckless and that will shatter not only the stock market but then you have to worry about liquidity that
will be involved in that. david: are things so risky that you're getting it a go? >> we have been getting into precious metals a couple months ago, consumer staples, utilities, boring is good we have a very boring portfolio but whether in volatility very well. i'm not a catch at this early in the cycle. david: a lot of people are worried about the falling knife especially those folks in ukraine. as the opening bell begins, it is a little early, we see a lot of green, coca-cola and verizon are the only two negatives in the dow jones industrial average. the dow starts out with a nice gain of over 200 points. the nasdaq lost a little bit of steam but the s&p is still holding up as well. the sea with the s&p is, up 33 points, closer to 34 to 4333 mark.
nasdaq started premarket activity at one and a third%. it is fallen a little bit but it's up about a full percentage point. all the big tech stocks are doing quite well microsoft is over 1% gain, apple just popped over 1% same with off the bat and meta as well about what it had%. let's look at companies who reported before the bell. susan, you are here, thank you for being here. susan: lows is writing the housing boom like home depot yesterday. they beat on sales and profit. even stronger margins than what home depot putting in the last three months of last year they are raising their sales forecast for this year because there is so much demand for tools and building materials as you know that, you need the power tools. t.j. maxx damping today because
they missed on sales and profit. especially the all-important holiday shopping. when you should be doing well and getting the foot traffic in the stores. they're buying back $3 billion in stock increasing dividends by 16%. not enough to overcome the poor fundamentals that we are seeing. cybersecurity paulo ulta surging in doing much better than anticipated. strong business anticipated because in the world of cyber threat that means businesses are spending to protect themselves online and it is a boom for this company. i will initially virgin galactic, richard branson company. smaller losses and even better cash positions. a surprised a lot of people open up ticket sales to the $450,000 seats which you can afford. we only need to put down $150,000. i was surprised. i was thinking hominy people can afford this, a few hundred thousand tickets sold already.
the chairman of famous d.c. guys stepping away from the company's board. david: another billionaire back in the news elon musk is fighting with the white house again. susan: he says the biden administration is ignoring his company in favor of paying more attention to say the legacy automakers like gm and ford. president biden did not save tesla until a few weeks ago. >> companies like gm and ford building a new electric vehicle production to tesla. the largest electric vehicle manufacturer. susan: he called it the largest tv producer in america. tesla and elon musk have not been invited to the white house so far but in the e-mail exchange, elon musk says if he was administrative officials onto worry because he would do the right thing, not embarrassed to be confrontational with the president. if you were elon musk, your cn
being complemented as a leader in ev when tesla is a pioneer. in this e-mail exchange elon musk said tesla sold 300,000 electric cars and last year. gethsemane gm sold, 26. david: all about the connection between gm and the government and union station. the price of gold, crypto has been talked about a new inflation hedge but so far it has not matched gold gold is down a little bit but above $1900. susan: so far we've seen gold go up and bitcoin gone down. it is been proven, if you want a hedge against tensions global political tensions people still run to gold. the correlation between bitcoin and gold at its lowest since 2021. i was checking the statistics gold has been attracting a lot
of money over the past year isolating billion dollars that went into by gold over the past 12 months. bitcoin i will say this it is done better than u.s. stocks, it's only got a few percentage points where the s&p is an correction territory. down 10%. i would say bitcoin is trading more in line with stock markets and the risk factor these days. david: it's not much as a risk but as gold. gold, even when crypto is making gains gold comes through. intel, legacy tech stock. they just got an upgrade. david: you thought leading the dow today. yesterday anb who is taking market share away from intel for the laptop pcs. today intel getting an upgrade from raymond james qualitative market perform don't buy a big position in intel it's been beaten down so much, that means you will get a deal especially
as intel expands and builds the fabrication plans. david: show me pinnacle, they make car parts in their being taken private. susan: a clean air power clean manufacture they are being taken by apollo this is a pretty have the premium of a hundred%. that is why there trading of 94% and this type of environment. yesterday we were talking about the other apollo pain $5.4 billion for the true crime deal, never spending another $7 billion it makes you wonder if we look at higher rates the private equity firms are willing to go out there and spend it doesn't seem money is getting that expensive just yet. does that mean we'll get nine interest-rate hikes this year. david: i wish i had tenneco today. unfortunately i do not. let's switch over to the dow winners. we just mentioned intel, but weenies doing pretty well, up
1.5%. the dow is doing all right, one and a quarter percent. nike up about one percentage point in salesforce.com as well. also the s&p winners caesars up 7.5%, over 7.5%, cadence design is up seven and a quarter percent. craft, hines, up 5%. lowe's of 3.5%. cadence design up seven-point to 5%. crafting hines up 5%. illumina is up 2.5% in applied materials of 2.5% as well. the ten year, what we get to do with the ten year let's do the overall. i want to see how close we were to the 2% mark were not far away from the on the yield. the yield is up almost three
basis points to 1.974% for the yield on the ten year treasury. bitcoin are we gonna check that, get bitcoin up almost $1000 to $38888 and oil has been kind of flat. despite all the problems of russia and ukraine iran was going to cut a deal with the united states which would release more oil that kept oil prices down it is up to take today but basically flat. the average price for a gallon of regular is $3.54. i think lauren mentioned before california $4.75 a gallon. that's averaging california. former president trump says russia's move into ukraine could inspire china to make a move. roll tape. >> china will be next. >> too thick to go after taiwan. >> absolutely, not with me but they will with biden. >> kevin is here on that in the
next hour. convoys of u.s. truckers make their way to d.c. when house democrats say it is the perfect time to seize their trucks. give them to other businesses? what about the truckers. the impact of russians and invasion on your wallet goes far beyond gas prices. edward lawrence has that report from the white house next. ♪ ♪
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the president is blaming future price hikes on russia. >> we already seen this in oil and gas prices as it trickles up, we have a global economy. when you have an effect in one area i invasion of ukraine to stop experts and tensions that come with that. it ripples. ukraine is one of the world's largest producers of neon gas. senator marco rubio talking about god intended consequences of allowing putin to get this far. >> there's other people's under people ukraine is one of the largest producers of gas which is critical to the semi conductor industry 90% of neon gas used by our semiconductor manufacturers in the united states depends on the neon gas from ukraine. if that's disrupted that'll hurt the industry in the united states. >> we have a semiconductor shortage proved vice president kamala harris prepared the american people over the weekend to have more economic pain. food prices could actually go up.
the reason for that, ukraine is the top five exporters of wheat and corn. if that slows u.s. farmers will get more money for their wheat and corn overseas to fill the gap to keep the product here. we will have to see the ripple effect in the oil prices. we'll have to see over the next few weeks and how far russian president vladimir putin goes and what effects comes from that as it ripples through the global economy. david: ukraine was a breadbasket of europe. that is why stalin wanted it so badly. larry kudlow had advised were president biden on how to go after putin while helping american energy producers and consumers. rotate. >> of mr. biden were a smart president and if he wanted to go after putin, he would tell american fossil fuel producers to turn the spigots back on. turning this because on would really stick it to vladimir
putin. but mr. biden is not a smart president. he is a weak president and a weak man with only a paperthin understanding of all the natural forces involved in climate change. david: i know the second soundbite from larry, i cannot get enough of larry kudlow. john lonski joins me now. i'm sure you'd love larry as much as i do. is he right on this is this the best way to go after putin? >> i do believe he is right. let's put it this way, we have an incoherent energy policy today and putin took advantage of that. putin knows quite well that the u.s. is not going to step up production in a manner that would weaken the russian economy via lower oil prices and let's not forget that russia is very dependent upon oil exports to run its economy. david: meanwhile, our economy is
getting weaker because the fact that we had 6 million jobs in fossil fuel businesses all over the country and they are being hurt by these policies read consumers are being hurt as well as we pay higher prices. it is hurting our economy, while it is helping their economy that makes absolutely no sense, does it? >> it makes no sense. we made a big mistake by assuming that the only risk the world faces is climate change. believe it or not we do have the authoritarian regimes in places like russia that can be quite aggressive. we have to take that into account if a large production of oil in the united states makes the world a safer place, that has got to be taken into consideration. we cannot focus on climate. until look at these other
factors that support production and oil. >> you can focus on climate because they produce and burn oil in a dirtier fashion than we do. if you do care about climate you would want to encourage production in the united states as opposed to relying on production from opec plus russia. >> that is a very good point. we have to realize the climate problem is global with scope and just because we solve it at home in western europe does not mean the rest of the world is going to follow in suit if perhaps they have every incentive to continue to rely on dirty fuels in order to gain a competitive advantage in terms of manufacturers. >> you will have no choice if you want to keep it economy going you depend on energy and would not only comes from russia you have to go over the energy is and that's why it's so dangerous. good to see you my friend, thank
you very much. the first-hand account of an american mom who only had 24 hours to flee ukraine with young kids. she is here to tell her harrowing story. one college says not mandating vaccines is leading to an uptick in enrollment. lydia hu without report next. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.
first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur.
tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. david: the college enrollment has fallen by 1 million students since before the pandemic. lydia hu is in new jersey. they say not mandated the vaccine has led to an uptick in enrollment, explain. >> that is exactly right they look back to last year when colleges were enacting mandates. worn community college took the opposite approach respecting individual choice of students and faculty. >> whether vaccinated or not were boosted or not you're welcome at the community college. courage matters.
saying let's go back, these are our community members at a community college we educate people who don't have a voice and we educate them. we did that back in the classroom. >> a community college is a two-year degree program they have been among the hardest hit. take a look at this you could see a decline by 10% in the fall 2020 it got worse in 2021 but at warren where masks are optional they are seen in enrollment increase by 5% in the most recent semester they expect to be back to pre-pandemic levels by this coming school year. while worn community colleges pulling ahead in terms of enrollment were seen colleges trying to catch up around the country and pulling back on the requirements and dropping mandates open to bring back the 1 million students that they lost during the pandemic. david: lydia hu, thank you. we live or i lived in new york
city. you come to new york city to work pre-we still have these mandates. we have all of the vaccine mandates. we don't have as many mass and it is with you. some of them are still applied. when you think cities like new york are going to get with that and realize that there's a lot of science against the vaccine mandates. to these restaurants and small businesses particularly retail businesses are going under as a result. lauren: i live in new jersey and i spent the weekend in pennsylvania and i did not wear a mask once. i did not see anybody wearing masks. then i took my daughter to her one year checkup last night and the doctor said there is no covid right now. don't even worry about it. i think it requires being nimble with your policies also. there is overreaction. david: businesses are dying.
lauren: 30 applebee's in the new york area. a number of gone out of business, he says the reason the blame he put squarely on the vaccine mandates. lauren: one of the things if you are willing when the pandemic first hit i didn't go to a rush i was nervous. if you're in opposition and so worried about covid, you're not going to go to a restaurant but the people who are going don't want the mandates because are more comfortable in general so it does hurt you. david: we have to get back to normal florida has been normal the entire time. now everyone is catching up. david: pete hegseth, charles payne, liz peek in your dorm board, they're all with us the ten hour of "varney & company" is with us next. ♪ ♪
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they are only up 44 points. you are losing a lot of steam. nasdaq was up 1%. and out is up 0.18%. a big drop from the bar highs of the market. treasury yields going up, 4.5% increase in basis point games, close to the 2% mark. it was up $1000 earlier. oil is up more significantly as the situation in ukraine is worsening. remember when then candidate biden's vladimir putin didn't want him to be president? >> he knows if i am president his days of tear any and trying to intimidate the united states
are over. i know he doesn't want me to be president but when i am president things will change. dave: russia has surrounded ukraine from three sides, biden's weakness delivers chaos to us and the world. before we get to your piece, breaking news a number of ukrainian websites are down. this might be the beginning of that cyber war that presages a larger invasion. doesn't look like putin is afraid of president biden. >> that is one of the more hilarious soundbites. markets are retreating on news
of cyberattacks in ukraine, it doesn't presage any standout. why would putin stand down? does nothing to prevent him moving forward including these tepid sink biden has rolled out but biden versus vladimir putin, months ago in his presidency biden begged for a sitdown with vladimir putin. the president does not have to bag for a sitdown with vladimir putin. unbelievably gift is going on . to give vladimir putin
incredible control over germany and france and other countries the same is going on here. dave: finish your point. >> in the last two weeks biden has shut down policies to make it impossible to build natural gas pipelines. dave: in the midst of this, drink prices down and blaming vladimir putin for rising prices way it has everything to do with his own policies, if we could put up the indices on the left of the screen it is positive but barely so. these concerns are affecting matters, whether it is xi or vladimir putin, they can smell
weakness. even before afghanistan they could tell biden would not be as strong or unpredictable as trump was. >> biden can't meet with the press. the telltale signs of a weakening president are everywhere. in his person, his speech was i couldn't believe he addressed the nation about a serious crisis in europe and would not take questions. i want to be supportive of the white house and an american president. it is difficult to find much to be supportive of in this administration. everything they are doing is wrong, myriad crises affecting the country. rampant crime, inflation, open borders. voters are ready to give biden a lesson on how these policies
are not working, forget the radical left wing of the party, be concerned about the average working person in america. dave: we need to wait for that message to appear. a political time of reckoning, appreciate it. republican leaders announced who will be responding to the state of the union address. >> iowa governor kim reynolds bandmaster mandates and critical race. this is an opportunity to reach beyond the beltway and for reynolds to up her profile and reach millions. rashid its labor --rashida tlaib will -- when you're going to the midterm elections,
really bad bet if you ask me, that's not a good strategy. dave: the progressive side, the defendant the police movement. let's check the markets. nasdaq briefly went negative, barely and positive territory now. greg smith joins us now. even when you start with a bank like you did today investors are very skittish. >> yes they are. the battle lines are drawn. the battle is ready to take place, this time without the biblical or profound anding and david for's 5 stones will not be a match for vladimir putin but us equity investors are more focused on what is
happening is there. dave: they are connected because we know the fed has political instincts. we've seen that no matter how much they claim they are not political. the war in europe, there will be a lot of pressure on the fed not to increase rates so quickly. >> equity investors are behind the bond market. if you look at the bond market we are seeing 7 rate hikes for the next year but they will be trading at 224 a year now. and the bond market, inflation will come under control. it will take the equity market, to believe inflation will come
under control. it is not time to buy small-cap high-quality small-cap growth yet and the next few months will play out and equity investors will be comfortable. dave: the way volcker got control inflation was putting interest rates above inflation. we are so far away from that happening with some saying we are in double-digit inflation i don't see any getting control if you keep inflation above where interest rates are? >> one of the biggest arrows is there words. the great unwind here has
already taken place, the art stocks over the last 6 to 12 months many have declined 50% to 70%. they sucked a lot of liquidity out of the market. equity investors take cues from the bond market. dave: you always have your lunchboxes behind you. >> if you find an old sandwich in them i will be worried. dave: you are looking at some movers. >> it came from the merger of chrysler, really strong first year, they cope with higher costs for chips.
strong profit margins, double digits and they expect a repeat this here. it was a winner and now a loser. the dow is loser, they are forecasting current quarter revenue below expectations, the reason they were off 4% was analysts set the bar too low. these are's entertainment is a winner up 3%. the ceo says the company plans to cut sports betting and spending. they are in 22 states grabbing market share with the cost. dave: thank you. one house democrat taking a page out of justin trudeau's book. you wants us authority to seize trucks ahead of the freedom convoy in dc. ukraine is on high alert over
fears russia will launch a full-scale attack. we have the latest from the capital city of kyiv. the president promised more weapons but never asked for more american boots on the ground. >> we ever asked the united states to send troops. we are not seeking american soldiers on the ground. dave: how far will we go to protect ukraine? i will ask kevin carol who joins us next. meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their new mini-van! yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here, so her son can get set up there
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dave: ukraine break for a full-scale attack from russia. we are just learning about a possible cyber attack. took the wind out of the sails of the markets which went down on the news. is there truth to it? >> it was widely predicted at the outset of any russian invasion we could see cyber attacks, many government websites, media websites being attacked. it is described by ukraine officials as a massive cyber attack. we will see if it is the start of a larger russian invasion. unsettling satellite photography showing the arrival of more russian troops in the field hospital.
russian president vladimir putin repeated his demand for ukraine. he wants ukraine to renounce membership in nato and disarm, give up all their advanced weapons was the kremlin is asking for more than that. they claim russia wants to see -- here's ukraine's foreign minister. >> the main narrative is a blend horrifying. ukraine doesn't have a right to exist. it's dangerous for president putin who runs an authoritarian regime. >> ukraine calling up military -- >> we have this story covered.
steve harrington in kyiv. lists what ukraine's foreign minister said about the meeting at the pentagon. >> more weapons from the us? >> yes. the only weapons our defense weapons to defend our country. we never asked them to send you troops to ukraine. >> how he defines the word soldiers, kevin carol, i don't mean to parse his words too fine, are there any plans to somehow get them in the ukraine? >> i hope there are, germany's training for years to help
countries in central and eastern europe resist the soviet or russian invasion. if the russians approach ukraine we have them with the special activity center operators at cia, we can make the russians fight a guerrilla war in ukraine. we were able to kill 15,000 soviet soldiers in afghanistan which contributed to the downfall of the evil empire and we can rerun that playbook. dave: actions like that as effective as we were a lot of action in central america we don't know what happened and it was helpful. this is in europe, a lot of people are concerned. are you worried about a spark turning into a big fire?
>> a wise man tries to avoid war but they are all looking for defense weapons. they need anti-ship missiles or antitank missiles or antiaircraft missiles or things like that of a potentially defensive nature. vladimir putin pushing his chips in the middle of the table. dave: keeping it sort of on-topic donald trump saying china is going after taiwan after the russia ukraine disaster. >> shiny will be next. not with me they wouldn't have. the lip extended, look at your stopwatch. it is almost like twin sisters
because you have one that wants taiwan. who wants it more. dave: iran, and is this the right time for that. >> no secret the communist regime as a matter of state policy once taiwan back and that is a statement of fact. one of the best things we can do, by making life as uncomfortable as possible for vladimir putin and ukraine. if we turn ukraine into a porcupine perhaps we can do the same to taiwan and make it an unattractive option for xi.
iran and the mullahs are looking closely at how well we support and ally, we should support ukraine, the bunker buster bombs, to take care of the rainy nuclear program. dave: between a rock and a hard place. appreciate it. they are concerned about a deep fake or manipulated video or audio. >> the white house is worried about distorted digitals like this one that is not vladimir putin though it looks and sounds like him. it could be of vladimir putin or russian troops showing something that never happened and the reason, and this could be a provocation.
they are only legally when used for fraud or extortion. we are looking at market, they are trading flat, the s&p is up a little bit. the bottom line is we started like gangbusters, the dow is up 250 points, now it is down, a lot of this has to do with reports coming out of ukraine, could be the beginning of a larger invasion, we are watching that -- president biden has 3 candidates to fill justice breyer at seat on the supreme court. tensions between russia and ukraine for in europe's oil supply while president biden's green agenda may be hurting our ability to negotiate with vladimir putin.
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dave: it is 22 ° in st. louis. it is a beautiful city, st. louis. it is cold, 22 ° and snowing, more snow to come. look at this. dow jones industrial starting up 250 points, down 100 points, nasdaq is down even more starting the day higher than dow jones percentagewise would you are looking at other movers and it is moving in the wrong direction. warner: crowd strike is up 1.3% and there's a massive cyber attack, steve harrigan hitting ukrainian banks in ukrainian websites. let's look at the oil companies. they are higher because oil is higher. there are reports the parent company of the lordstream 2
pipeline will get hit, deathknell to that project. it means less oil, higher prices. finally, burlington stores down along with tj x. t.j. maxx reported earnings, home goods come you go in for the treasure hunt, bargain hunting but in the holiday quarter you had omicron so people didn't do that as much. dave: i laugh because i love those treasure hunt with you get $.50 off it makes your day. thank you very much. the crisis in ukraine threatening europe's oil supply. i am wondering, i have heard about energy supply shortages for the past couple months in
europe and i wonder how much of those shortages have to do with reliance on the green energy solution. >> a part of the reason, europe says we don't want fracking so what are you left with except solar and wind doesn't work, you need gas and you get the gas from vladimir putin. dave: it can be said the green agenda has been good for putin. >> it shows when people say solar and wind is ready to take over. it is great when the wind is blowing and the sun is shining but when it is not, batteries energy supply and after that you need fossil fuels, nuclear, gas and without fracking you
buy a lot of it from vladimir putin. dave: not all fossil fuels are created equal, summer cleaner than others. natural gas is so clean the co2 rates, look at the downward trend and it is almost identical to the time we began tracking so it is making our air more clean. the less we do about natural gas the dirtier our air becomes because we are depending more on call. >> your dependent on all of them. dave: 20% to 24% of our energy needs. >> you used to use 40%. the us has seen a dramatic decline much of it because of fracking. will would solve this problem would be to embrace fracking to get our own gas cheaply and not
be relied on vladimir putin but recognize you can't rely on solar and wind and this is the crucial bit to understand. we are not fixing it by repeating the mantra solar and wind will do it. they can be good additives at some point but you need backup power and this comes from nuclear or gas. dave: could what we are going through right now based on russia's invasion of ukraine force these countries and the united states to realize they can't deny fossil fuels entirely, we are not ready for the transition to 100% renewable? >> that's the only reasonable way to look at this but a lot of people say fossil fuels is the most expensive to build more wind turbine parts and
solar parts, that means lots of too much energy when the sun is shining and the wind is blowing at high costs and still have nothing and when people can't turn on their tv they will want you to ramp up anything you want. dave: we have the power to turn natural gas into liquefied natural gas. we were hoping the europeans would build terminals, ports to receive it. is that now on hold because of president biden's attacks on the natural gas industry? >> i can't imagine that's the case which i don't know what is the plan right now but clearly europe wants much of your lng because we would rather buy it cheaply and from a secure partner rather than russia. dave: we want to produce. good to see you, thank you for
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"i feel so much better." "it's like a savior to me." so you wrote this. - yes. - thank you, edna. - [announcer] don't wait. see if a reverse mortgage is right for you. call now, the number is on your screen. dave: check the market, they are down, doing great until we got word of a cyber attack in ukraine that may presage an invasion, the cyber attacks have begun, the question is whether it would be followed by an invasion. the markets were down lower,
they recovered a little bit but they started like gangbusters, great gains on the indices. $6 trillion in covert funding and president biden will ask for another $30 billion. there has been $100 billion in covert fraud reported. any oversight measures to crack down on this? >> congress set aside $480 million plus oversight of this relief money, and cash in charge of oversight, the commission two special panels but all of that critics say have not cracked down on fraud or stopped it happening in the first place, the boosted unemployment has been proven to
be right for identity fraudsters, for stolen data farms and other countries, 90% of these checks went to the wrong people, $80 billion in lost funds and republicans say new guidance is making the problem worse. it would allow states to give up trying to recover federal funds that were improperly paid during the pandemic. this is letting states off the hook, writing from the labor secretary fraud would turn thousands of americans into identity theft victims, now the time to pursue fraudulent victims, it is possibly the
greatest theft of taxpayer dollars in american history. dave: if that holds up that 20% was lost that means $1 trillion was wasted in the $6 trillion of covert spending, the greatest theft in world history. we told you about canada bring banks freezing the accounts of people sympathetic to the freedom convoy, that was a step too far. >> about 200 of them worth $6 million, freezing those accounts is unprecedented, tantamount to financial warfare. it sows distressed in banking, affects people in affiliated with the protest. the canadian government says
it's emergency powers only froze the money of convoy organizers or truck owners who refused to leave, but not sure how far they reached. >> only autocratic governments do this. dc taking security precautions ahead of the freedom convoy. the mayor is criticized for overreacting. >> separate truck convoys with names like the people's convoy have different starting points, some are scheduled to arrive in time for president biden's state of the union address. it is unclear if us truckers
want to shut down washington streets like there canadian counterparts but us organizers talked about shutting down the beltway, the pentagon approved deployment of 700 unarmed national guard troops who will not take part in law enforcement or domestic surveillance activities the critics are accusing muriel bowser. the initial requests was 1000 to 3000 national guard, does it designate a plasma. highly unlikely. dave: next, one house democrat calling for the president to seize trucks that are blocking highways near dc. what do they do?
dave: arizona congressman looking to seize any protester trucks blocking highways near washington dc and redistribute them to other trucking businesses. perfect time to give the trucks to small trucking companies looking to expand their business. jim watson talked about the canadian freedom protest to offset security costs. there have been angry responses to those comments, many asking if he read the constitution. others asking where was he when bl m and nt for where burning businesses. dave: what sounds crazy might
be conventional wisdom inside the beltway. donald trump says russia's invasion of ukraine could embolden china. >> china will go after taiwan blues not with me they wouldn't have lucy with biden. dave: we will take that on in the next hour. a family separated by fear of war. her husband stayed behind to help with evacuation efforts. he will hear from her next. ♪♪ ♪♪
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even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. dave: nearly 5000 us troops arrived in poland, bracing for possible ukrainian evacuees. ashley: that is exactly right. they are working to set up
processing centers for americans expected to flee neighboring ukraine of russia launches an invasion. the biden administration made clear it us troops are not fighting ukraine or rescuing americans trapped by russian attack. few at evacuees have been seen but a nationwide attack on ukraine could result in 1 million to 5 million refugees with many of them pouring into poland. it would be the largest flood
of refugees. my husband stayed in ukraine to help out, the family took and get out and evacuations. dave: we saw your husband on fox news on fox and friends. he looked like he was doing well. it was a peaceful setting. there is a picture of him on fox and friends. i know you love your husband but must be very tough. >> i have three children. the youngest is 7 months old. it is tough to be away from him
but we are proud of the work he's doing. dave: he is a wonderful guy for doing it. we should mention you lived in odessa on the black see. one of those areas vladimir putin wants quickly, to unpack his military hardware. you have friends in odessa. are you hearing what is going on? >> some are even accurate way in tomorrow. they feel like sitting ducks just waiting for something to happen. everything could be fine today. dave: a lot of people here are critical of the united states going too far in getting embroiled in what is going on
the ukrainian government is corrupt. we know there is corruption in the ukrainian government that the kind of repression imposed by a russian iq pioneering force you would agree it would be more repressive than what you received from the ukrainian government. >> i've never been to russia but it would be an unpredictable situation. it could be a lot worse. dave: did you have contact with russians was there are a lot of russians there already and it was one of the excuses vladimir putin gave for going into eastern ukraine, what's your experience dealing with them? >> definitely a more russian
presence, it is not ukrainian, only russian. i wouldn't know what to expect. i would think it would be russia taking over and not a lot of people -- it would be an overwhelming presence to the russian government coming in. dave: we had big immigration movements in europe before but not since world war ii have we had 5 million potential refugees. could the number be that large? >> it could be. so many friends telling me they are worried and a lot of locals, that the possibility. dave: our prayers are with you and your family and your husband. thank you for being with us.
appreciate it. let's check the markets. they were doing well before we got word of the cyber attack from russia to ukraine that might presage something bigger. it is down 3 quarters of one percentage point. charles payne, republican senate candidate for alabama mark durand, the pentagon has approved the deployment of 700 national guard troops ahead of the trucker protest in dc. pete had will tell us if this is an overreaction next. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?
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and by demonstration policies have weakened -- >> with disastrous green policies. dave: that is a foot tab or. 11 am on the east coast, february 23rd. i'm david asman. let's check the markets. started like gangbusters with the dow well up over 250 points, it is now in the negative. it came down as a result of news from ukraine. looking at the 10 year treasury
up two basis points. it had hit a week ago but is getting close. show me oil. oil is up 1%. it had been tapering it gains because of what is happening with iran. that would put more oil in the market and bring prices down but worries about ukraine are hitting oil once again. look with your, mark tepper joining us for the hour. we have news of exactly the time markets turned around that cyber attacks have begun. whether this does presage a fullbore attack from russia we don't know yet. we are hoping it is not what does seem like there are cyber attacks. >> the market is very skittish as we don't know how far russia
will take it but they are taking it further than yesterday. as we look at russia getting more aggressive it makes sanctions more likely. that hurts the economy and the us economy. investors are laser focused on the fed. so more of a focus on -- dave: i would push back and say people who are interested in the fed are still interested if now the fed will look at what is happening in ukraine because they have these tentacles they are concerned about gas biking higher than it has in now is not the time for half a percentage point interest increase. >> i don't think 50 basis points, you can't make 50 basis
points when still buying bonds. it is counterproductive. dave: do you think maybe they will not taper it off because of what is happening in europe? >> the fed is supposed to have a dual mandate, full employment and price stability which is fighting inflation. dave: isn't it climate change? >> number 3 is propping up the stock market. >> it is supposed to be dual mandate but number 3 is stock up the stock market, the fed is in over their heads. dave: where is the s&p, you say there's a line in the sand for the s&p, is getting close to the 4250 mark of the deck at which all bets are off and you don't buy the dip anymore. >> 4250 is where you make lower
lows and these machines kick in and exacerbate the selling pressures happening as we speak. so if we fall through 4250 there is no support until 36 or 3700 on the s&p. dave: we are 30 points away so we are getting close. you will be here for the hour. president biden says a russian invasion is beginning as he imposes new sanctions against russia. will blue bull this is the beginning of the russian invasion and i will impose sanctions in response beyond the steps we implemented in 2014. of russia goes further with this invasion we are prepared to go further with sanctions. who in the lord's name does
vladimir putin think gives him the right to declare new so-called countries, on territory that belonged to his neighbors. dave: pete exist is here to talk about this and other things which we had general keen on. despite the fact the germans decide to put a hold on nor didstream 2, what do you think? >> they will not deter him, they still have northeystream one. they have the bulk of energy to germany which does the lion's share of deterrence if they were trying to stop russia. dave: where are the russian troops now and what is the game plan? >> president biden says what rights does vladimir putin have to declare countries? he wrote down these regions are largely russian and we want to declare them independent. then he rolled the tanks and
say we will declare the piece. ultimately how far, you see the red spot, farley egos beyond that will show what his intentions are. he has troops far from that region was a new field hospital in the northeastern part of the map and belarus, the military exercises there and crimea in the port of odessa. indications are it is more than the russian separatist areas. he has ambition for more. is at all the way to kyiv? or is it the almost cutting ukraine in half. dave: he the cia guy who is used to destabilizing government which the soviet
union was good at that. there are ways of getting into the bank accounts of various leaders and, if you put the map on the board. at the bottom of the map, the blue water, that is where odessa is. militarily he needs to get into odessa to offload the ships with military hardware, what do you think? >> a blockade in the black sea cut off ukraine, access to ports or in and out. he is setting the stage for whatever his ambitions are. no one is inside vladimir putin's head, working through shadow we figures, and he is 69
years old and wants to leave a legacy. that slow drip might not feed his appetite and he might have ambitions beyond that was you heard the speech about ukraine not being a country. dave: the same about the baltic. dave: that triggers another response. >> is counting on ambiguity, democrats in the white house, the dependency of oil and gas in russia. is counting on us attempting to appeal -- dave: wasn't he afraid of kamala harris? >> the lecturing in a giant mask is effectively dave: it is pathetic with the vice president of the united states lecturing europeans saying you got to realize we got to work, the europeans know more about war in their territory than camel harris does.
>> has nato learned the lesson they are supposed to be capable of defending themselves? america cannot and should not be the ultimate guarantor. donald trump had to wake them to that reality. dave: there is a trucker convoy going into washington dc. the mayor of washington dc going ballistic saying they will shut it down was one representative said we should take the trucks, giving it to other trucking companies. what do you make of this? >> they justified mostly peaceful protests. canada vowed from the beginning to be a peaceful protests about vaccine mandates. they are treating it like a january 6th redux and attempting to use the same thing. look what justin trudeau did. who encouraged him to crackdown
on protesters? president biden did. why not use the same approach on freedom loving truckers? dave: trudeau's approach was to go fascist seizing bank accounts and stuff. >> there was a wall around the capital for a year. dave: a constitution they are nibbling away the details of. let's bring in lauren with some movers. let's start with overstock. lauren: earnings were stronger than forecast. the parent of the stock exchange taking a minority stake in a player called t0. overstock has an 80% stock so ice's investment is considered a big deal. it goes up $7 was look at penn national.
it is a winner today. the news, with pen national and caesar's to exchange sports betting and palo alto network is forecast higher revenue for the full year. it is up 3%, 490 right now, jpmorgan upgrading them to neutral with a $600 price target. dave: now this. president biden is narrowing his choices for the supreme court. he met with three candidate was remember when former president obama said the following when running for reelection. >> the biggest geopolitical threat facing america, you said russia blues not al qaeda. you said russia. the cold war has been over for 20 years. dave: black hearted down pilot make durrant is here to respond. vladimir putin says russia's core interests are nonnegotiable as troops
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sanctions against russia and those specifics will be published later today but they will include 350 lawmakers who voted for recognition of those two regions of ukraine changing the map of europe and people deemed by brussels to be rush's greatest purveyors of propaganda was the foreign-policy chief said no more shopping and milan or partying in san moritz or diamonds in antwerp but he deleted that tweet. new satellite imagery from the us satellite company that has been providing imagery of troop movements around ukraine for a few weeks with new troops and sealed hospitals. it is defend her of the fatherland day in russia. we saw vladimir putin and the
defense minister who is rumored to be on the list of sanctions lay a wreath at the tomb of the unknown soldier. vladimir putin put out this message. >> translator: our company is open to a direct and honest dialogue and search for diplomatic solutions to the most complicated issues but russia's interest and security of our people are unconditional. we will strengthen our modern navy and increase their efficiency and provide the most advanced equipment. >> reporter: wrapping that up, on the one hand there is outreach for more diplomacy but on the other hand this military buildup continues with no sign of de-escalation. dave: thank you very much. you remember when president obama said this about russia.
>> what is that he is as big a threat facing russia? the cold war has been over for 20 years. dave: mike durand, u.s. senate candidate from alabama joined me now. the cold war, the official cold war may be over but looks like it from vladimir putin's perspective. >> it is unfortunate we have the current leadership in the white house was we lack credibility at that level and we will see more problems whether it is in ukraine or taiwan or the middle east because of the leadership we currently have. dave: i am from a military family. makes us nervous with the commander-in-chief who has brief history as commander-in-chief as checkered as biden's is what makes you nervous if we are sucked into
something this commander-in-chief can't handle. the staff and people, to get committed into something like this but we should be concerned. and this is not something to take care of in a couple days and people advising him have enough common sense that the last thing we need to do is put boots in the ground. dave: you were special ops aviator. you were piloting one of those black hawk down helicopters, held captive in 93. you were black hawk down. there may not be of his boots on the ground but we may send
special ops into ukraine to help them resist the russians. >> those things can be effective. obviously training, resourcing, supporting the ukrainians is the right thing to do and anything short of conventional forces on the ground. dave: you think it would be possible for minor operations within ukraine undercover? >> that's typically what we do. there are several agencies that contribute and it can be effective without large-scale commitment and that is the only thing that makes them strong. if you want to call it military involvement any deployment of troops outside that is ludicrous. dave: donald trump raising the alarm on the china threat on what he calls the russia
ukraine disaster. >> i will be next. >> you think they will go after taiwan? >> not with me they wouldn't have. they were waiting for after the older pics. look at your stopwatch. almost like twin sisters because you have one that wants taiwan -- equally badly. somebody said who wants it more? equally badly. dave: nice to hear some frank talk about the situation but what do you think of the substance of what he was saying? >> i agree 100%. if you have a strategic objective to undermine our success as leader of the free world ncs distracted with ukraine combined with the fact we have leadership with 0 credibility thrown away in afghanistan and no one will listen to what the biden administration says. it is a paper tiger and we are
vulnerable. if you think of the consequences of taiwan, how it would affect us economically it is a bigger issue and a bigger threat. dave: thank you for being here and many thanks for the service you did for this country. now this. president biden has interviewed 3 candidates to fill justice breyer's see. tell us who the nominees are. dave: the president ashley: the president vowed to nominate the first black woman to the high court and he interviewed jackson and kruger. jackson was nominated by president obama to be a district court judge and biden elevated her to the us court of appeals for the district of colombia circuit. childs is a federal judge in south carolina and has been nominated but not confirmed to
serve on the same circuit court and kruger, a graduate of harvard and yale law school was previously a supreme court clerk before going on to become a justice on the california supreme court was the white house says the president is still on track to make a final selection by monday so the weight will soon be over. dave: at&t shutting down its 3g network. that could mean big problems for your car. look at the markets was a bad day for the markets. started as a great day. are perpetual optimists getting pessimistic? charles payne is a fulbright optimist on most things, here to answer the question on the show coming up next.
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empire state building. a beautiful city. a shame it can't get its act together. we've been in disrepair before. it is a 60 ° day in february. let's check the markets, they were doing well until we got word there was a cyber attack in ukraine. whether that means a fullbore invasion from russia is coming. you have specific movers reacting to this. lauren: these are individual names rallying with the fact that caesar's reported a smaller loss to end last year after bullish comments on its sports betting business. caesar has a fifth of the online market and they got that in the past month so they will wnt n th or ma orkr ing
sp icd h wha icof y ofof ca arcas cacat n wnt wnt wnt ek king king ki eaeaderrunepdestteocksteocf te th e st 5ong-onrm deal deal with my dharna.pales well. ov teg and equipmenpmen has done welll forr him awe mo rg an cal for oil so you are looking at west texas closing at $4 a gallon at the pump around the corner. bank of america calling $120 for oil because of a russia ukraine office. the us is more independent in its own oil production. dave: imagine what a gallon of gas costs. let's take a look at that coin.
mark tepper is with us. it is up on a down day but had a rough ride recently. >> the last few months have been brutal and has me wondering about the real purpose of crypto? it is losing its utility day by day. it was meant for illicit transaction but you've lost anonymity. it was supposed to be an inflation hedge but it is down 50% while inflation is accelerating was from an asset allocation standpoint investors need to rethink where this fits in their portfolio. a few months ago or a year ago investors thought this has us stock position. today it might be more like a gold sleeve in your portfolio. dave: looking at markets today, one could get a little
depressed. optimists like charles payne are getting pessimistic. i've never seen charles pessimistic. does the market get you down? charles: it doesn't. i am licking my chops a little bit. a lot of stocks got ahead of themselves but the carnage we are seeing, there are some unknowns was ukraine, russia, we kind of nowhere at ends. the federal reserve. we will know more in march was no way 9 consecutive hikes. dave: the first won't be half of 1%. dave: charles: if you knew things for the federal reserve, to start this rate hiking regiment in an economy that is slowing down significantly is a dangerous
gambit. my whole thing when the markets are like this and i ask people to be cool, you take some hits. i'm in thermal fisher and down 5% with today's moves or of the more. it is an amazing company. i would be nuts to sell it. home depot was down, i can supply. inventory climbing faster than sells and accounts payable are climbing faster than accounts receivable. those are slight adjustments. unless you are a traitor, you take it in those stocks? dave: major quality for a long time. charles: my greatest regret is watching a tape at a stock goes by, $150. how many times that has happened to me. dave: what is on your buy list
right now? charles: glad you brought that up. we are at the tail of earnings season. i know the names, post a great earnings and guidance and moved up on that guidance. i know the company taking market share. i got a smattering. i'm focused on semiconductors. dave: any in particular? charles: amd is what i love. dave: what about intel? charles: intel fell asleep at the wheel. this is why we don't need to break up monopolies. they fall asleep at the wheel. sears was the most dominant retailer in the history of the world. you can order a house from the sears catalog. we never thought they would go out of in business. the same happened to intel as they fell asleep at the wheel. dave: i remember intel coming to the wall street journal
baking government really from japanese chips. i've got to leave time for your special on black history month, achieving the dream. i want to start with one guest, the new lieutenant governor of virginia, winston sears, a former marine achieving the american dream. charles: black history month we reflect on the past which you should do, honor the folks became be for you but the focus has been so much on the atrocities. i think that is stopping us from looking forward was i equate it to driving a car. we are turning into an amazing area, the fourth industrial revolution and we can't navigate or be in control across the finish line if we are spending the entire time looking in the rearview mirror, fighting fights we have already won.
i want us to focus on how to get ahead. i have three young women in their 20s. teaching other people how to do it was don peebles started the multimillion dollar real estate empire. dave: a democrat who is a straight shooter. even before jack brewer on the fatherless crisis, now in american crisis which as far as sears is concerned, we have a political revolution in this country that has nothing to do with right or left but family. youngkin found something. dave: the mayor of new york, you've got to work with jack brewer. he knows how to fix things. charles: his fatherhood legislation is amazing. what a pleasure. dave: thank you very much. the federal mandate requiring
masks on planes will expire in less than a month but flight attendants are fighting to keep the rules in place. the pentagon just approving deployment of 700 national guardsmen to dc as they prepare for trucker protests and security precautions don't end there. is dc's mayor overreacting? chad program has report from capitol hill next. ♪♪
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we will take it. at&t shutting down there 3g network. tell us why this causes problems for cars. ashley: good question. i thought 3g was long gone in the rearview mirror. it turns out millions of vehicles in the us including tesla and hondas will soon lose emergency features when at&t disables its 3g network, depending on the age of your vehicle some of us may not experience any problems at all. others could lose automatic emergency services in the event of a crash and some entertainment and convenience features like real-time navigation and smart phone apps features. different automakers have different solutions but you may end up paying to have your vehicle upgraded. you can check brand websites to find out if your vehicle is
affected or when your navigation doesn't work. that is interesting and it could affect a lot of people even home security products. dave: the upgrade won't be cheap with all the supply chain problems. the pentagon approved the.of 700 national guard troops to washington dc adamant trucker convoy. what is the latest? >> reporter: that's a big 10/4. no concrete intelligence what they plan to do with one group from scranton planned to drive around the capital beltway. they won't interfere with traffic. some truckers want to model their demonstration on was unfolded in canada. >> we are the freest country in the world and we are being restricted, they are taking everything from us one at a time and it has to stop.
>> reporter: the pentagon has approved 700 national guard troops to help police in the dc area. the capital fence will go back up in the coming days. the monikers question of that is overkill. >> the symbol of it is bad but it is an overreaction and bad optics. >> reporter: even some democrats see it as a temporary necessary evil. >> so long as it is a one or 2 day affair. it won't be tolerated but not for long. >> reporter: the guard is authorized to help police between now and the seventh of march. dave: 6-numtwo and even. over and out. starting tomorrow all remaining covert restrictions will be
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♪♪ let's fly let's fly away ♪♪ if you can use ♪♪ dave: for a second, i thought it was frank sinatra. you are looking at -- what is that? it is michael bubble. philadelphia international airport, 62 ° in philadelphia. the federal mass mandate on planes will expire next month. what our flight attendants saying? ashley: they believe the mask mandate will be extended even though a growing number of states and businesses are lifting restrictions was the mask mandate will expire march 18th after being extended three times back to when it was
first imposed in february of 2021. it has become a political lightning rod with a surge of unruly passengers. the 6000 onboard disputes last year, 72% were related to masks. some got feisty. the association of flight attendants union expect the mandate to be expanded again. they believe conditions haven't changed in the youngest passengers still don't have access to the vaccine. you can take it off when you eat or drink. it is one big charade. dave: there is a lot of that going on. we've got to learn to live with this. let's bring in mark tepper. how long will we see masks in place? >> i was hoping we would be done in a month. i think it was a month or two ago every single ceo of the big airlines came out and said we
don't think masks are even effective. the advance air filtration systems on planes are more effective. the pilots union didn't respond to comments. flight attendants union said we hope masks are gone sooner rather than later. i was hoping next month. it may be summertime. we have to get past omicron. dave: what bothers me more are these vaccination mandates, forcing you to put something in your body that should be a personal decision you make with your doctor. the uk is getting word of these mandates, back to almost complete normal. how far? new york has a vaccination mandates, still killing businesses here. restaurants are 67% less capacity than before the pandemic. >> this is show me time. the government, politicians need to show us are they
competent or incompetent? if you follow the whole follow the science saying policy should follow suit. science is think of it is behind us how we need to move forward and live with it, all the polls and data say american citizens want to move forward and live with this. we will see if policy follow suit. dave: markets are still down. we had positive market. you see premarket activity and after the bill the dow is up 250 points. nasdaq was up a full percentage point. the nasdaq is down, how much longer will the market follow what happens in russia? the downward move came when we got word of cyber attacks in ukraine.
>> obviously inflation is front and center. you throw in the fact that economic growth is slowing already. russia and ukraine, it will further exacerbate the economic growth is slowing. investors are concerned how long the russia ukraine conflict drags out. starting to focus on inflation in the fed but if this drags out 6 months, 9 months, 12 months that royal the markets. dave: one of the good things is you're not hearing about more government spending. people in the beltway are focused on russia and they know the guns and butter policy, you are going to have an explosion of inflation. taxes. you've got to be nuts to raise taxes in his environment. a lot of people in the beltway
bar nuts. >> i'm glad we are not talking about excessive spending was everyone wants to point the finger at the fed for triggering 70% year-over-year inflation but we experienced 0% interest rates from the fed before and haven't seen 7.5% inflation. a lot of the blame has to do with stimulus checks being printed over the course of the last few years, that is responsible for this runaway inflation and build back better is billback smaller. they are able to pass anything it will be bits and pieces. dave: those bits and pieces add up. $30 billion used to be more than a bit or a piece. stay with us. it is time for the wednesday trivia question. which president was born on
july 4th? thomas jefferson, teddy roosevelt, james madison? calvin coolidge? the answer is next. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. . .
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i would have said by the way teddy roosevelt. you are right, ash, it is calvin coolidge. last question, this is a bonus question, who died on july 4th, quickly, mark? >> no idea. david: ash? three presidents. >> roosevelt. david: james monroe, john adams, tom jefferson all died on july 4th. neil cavuto. good to see you. neil: i remember your coverage of their death. david: isn't that kind of you. you're back to your old self, aren't you. twist the knife. neil: coming out of my fog. coming out of my fog. david: bless you, neil. neil: david, great three hours there, i appreciate it, my friend. we're getting to the bottom of it, what is going on with the cyberattack. we don't know much about it. we know we got word out of ukraine is was effectively shutting down a lot of websites of