david: that's it for us. here is mr. charles payne. charles: david, thank you very much, my friend. good afternoon, i'm charles payne, and this is "making money." the fomc minutes are breaking. we'll give you more on that later. in moments president biden will speak with germany's chancellor as the west tries to dissuade vladmir putin from invading ukraine. we're wasting fed guessing game as a slate of nominees hit a brick wall during confirmation. stocks are holding up pretty well. we'll discuss positioning with some of the best in the business. also retail sales came in much better than expected but something is certainly off.

danielle dimartino booth will share her concerns. what does it mean when one of the most successful corporate raiders of all time says capitalism is broken. jim bianco is with us. he will sound off on that. all that and so much more on "making money." ♪. charles: here it is, guys, every day market sort of bouncing back and forth, influenced by more exogenous events, scuttlebutt. that matters more these days than earnings and fundamentals. it comes down to whether vladmir putin invade ukraine. will the fed hike 50 basis points and signal war on inflation where the stock market, maybe even the broad economy could be casualties. it is an environment so frustrating to say the least. also where you do the work, folks. this is the time you do the work, take the actions that allow you to have big wins down the road. i want to bring in garrry caught obama and phil blancato. i have two phils with me.

let me start, we hardly start earnings with all the other things making headlines. there are number and market just doesn't like it because it isn't good enough. charles: gary, p-e ratios come down really fast near the historic averages, right. there has to be mean there are

at least some diamonds in the rough. >> the problem right now there is very few and i'm just a big believer in reading the market and all i can tell you right now the only bull markets this second are oils. to phil's credit travel related stocks are really coming to the fore. shippers, commodities, a smatter of financials but the rest of the market is like a big bowl of slop right now in differing levels of bearish phases and you just got to be patient around wait until it comes out of it. we can come up with all kinds of reasons why something is going on but leave no doubt the market is getting used to higher rates even though historically they're low. we are getting away from the addictive rates of like nothing percent for quite a while. so may just take some time. eventually we will come out of it. the good news we have 120 years of history. we have bear markets. we came out of everyone of them.

we always went to new high ground. it takes time. charles: that is what i say when i go to the dentist. you've been here before, my man, don't worryere. i'm pulling myself, drag, screaming, oh god. i'm with you on 140 years. we know the history. phil, to give you more kudos value is crushing it. i'm not 100% sold it will hold all year long. would you keep going. someone buying the show has to make a decision on styles, stick with value and reopening names gary mentioned? >> we still have a opportunity in front of us. cruise lines are still cheap. major hotels have not been priced up yet. trade into energy, some of the names like exxon, high-powered name still below the p-e ratio. you still have a chance to play the value trade. enjoy it. i think it lasts threw the end of this year. i think we rotate to growth go to more normalized gdp growth post-inflation. normalized in 23. we have 18 month window to make money on value.

charles: gary, to your point, big money managers dumped so much tech, the lowest exposure since 2006. saying using individual investors is contrarian. i like to use them also. sounds like maybe there is too much pessimism. >> the good news is, you're getting a lot of pessimism. you're getting a lot of selling. you're getting a lot of coughing up. i'm also again when i see today facebook, new yearly lows, i still call it facebook, adobe second most important software company just crashing over the last couple months into new yearly lows, microsoft, breaking the longer term 200-day moving average, shopify, last i looked was down 160 and down 60% from the highs. i think we're still in a bear market for tech. the great news is, when everything turns technology will lead, again back to the patience. i hopefully find not only double

and triples but five-baggers and 10-baggers over the next decade. that is where it usually comes from. these companies grow their business 100% a year, 200%, usually it is in technology. so that that is where we'll keep looking. as you used the term, diamonds in the rough but right now they continue to be under pressure. charles: i have got a minute to go. phil, i'm a good poker player when four or five of us together, i will win. i've been to some tournaments. i don't have the patience for it. i bring this up, i think this market is where you can sit on cash, at least i know i can but many investors can't. what do you say to people who are getting antsy, either want to get in the action now or want to walk away? >> i wouldn't want to walk a way, you have a chance to rotate into mid-cap or small cap value but small cap for should. the small cap stocks have gotten killed. i think there is chance to play the earnings growth. you don't need to wait any

longer. to no need, gary's point, spot on, some great tech names you own four or five years you're getting them at a real discount now. you spend the money down. i still think we go down further, four or 5% after the second fed rate hike. for now take advantage of markets today. >> charles? charles: yeah, gary. >> charles. bear markets are an investor's best friend. that is where you find things on the cheap. they will get cheaper. you have to be a little bit patient. when things turn, the biggest money is made in new bull markets. that is why i'm frothing at the mouth right now seeing what is going on with tech but again i have got my feet on the ground, relaxing. i will wait around until they will show up in droves. they will eventually. charles: bear market is investor's best friend. i will steal that, try my best to give you credit. if anyone sends awe video not giving you credit, i apologize that now. gary, phil, thank you very much. all eyes on russia, ukraine,

that drama, the plot is thickening in a few minutes president biden will speak to germany's chancellor olaf scholz. he holds all our markets, commodities bonds in the palm of his hands. we have strategas partner dan clifton. dan, how would you handicap the possibility of an actual invasion and a chance that the west could somehow be lured into something that would be regrettable? >> yeah. first thank you for having me. it is great to see you. you know these things are really hard to handicap. if you look at the way the biden administration is talking they seem to be suggesting there is 60/40 chance putin goes into ukraine. that could happen more limited way by going into eastern ukraine and just taking some of the russian-speaking areas, or what they are really worried about last week was a full-scale invasion of ukraine itself. there is a path here for de-escalation.

while russia is saying they're de-escalating we haven't really seen much of that troop withdrawal but really the de-escalation could come with a missile agreement where the u.s., other western european countries agree on limited number of missiles placed in poland or other strategic areas. there is still a chance for diplomacy to work but what we're seeing is that the markets are just pricing in an increasing risk when you look at the price of oil or you look at defense stocks that there is a potential for some sort of event to happen here in the short run. charles: what is interesting for a few years we dealt with a pesky north korea. every now and then firing off one of the wayward rockets. but now geopolitics is casting a large dark shadow over markets in general. all these thing in total, you know, just talk to us a little bit more. we've got iran, we've got china, we've got a lot of things aimed at us right now. >> absolutely. so first the u.s. is somewhat of a divided country and right now the president has been weakened

by his afghanistan withdrawal. that has two effects t allows world players to begin to test the u.s. and second the biden administration is likely will overcompensate because of the failure of the afghanistan withdrawal, given where his political numbers are. why the chance of an accident begins to go up. as you know the real issue is china. the competition between the u.s. and china and geopolitical threats that come from that. so as you get distracted with ukraine or north korea or even iran, that creates an opening for trying to continue to make moves against the united states. so the u.s. is being challenged in a way that we haven't been challenged since the berlin wall came down. what i would like to do is just look how stocks and interest rates traded before the berlin wall went down and we had globalization. we're probably degloballizing now. there will be inward movement of supply chains. that means we'll probably have a little bit higher inflation over the long run, a little bit higher interest rates and a little bit lower pe values but

you have better national security. the globe is in a shift even a 70-year post-world war ii environment. that is pretty big shift happening. charles: don't tell my friends at "the wall street journal" i like that. i will pay up a little bit to have more jobs and security in this country. dan, it has been far too long. great to see you, my friend. >> good to see you. charles: the fed minutes came out a few minutes ago. we'll take a deep dive with danielle dimartino booth. why professionals are still saying inflation is transitory. speaking of professionals, they're fretting again. should this be a contrarian buy signal? i say yes. nancy tengler will tell us what she thinks. she is coming up. ♪. meet a future mom, a first-time mom and a seasoned pro.

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charles: the fed minutes being released moments ago giving us more insights when the rate hikes might happen, just how high they might be. edward lawrence with the breaking details. reporter: charles, very interesting they talked a lot about the omicron variant but they did say the supply

imbalances led to i am nation we're seeing here. omicron weighed on the economy in the first part of 2022. in that the participants believe the effect would be temporary particularly on labor shortages. they said the variant led to labor shortages but that would wane as the variant wanes. supply chain bottlenecks and labor shortages limit business's ability to strong demand and the omicron variant. participants said the labor market is at owe have close to full employment. participants said inflation lasted longer than anticipated because of supply chain issues. it was affected by other factors like wage growth and increases in prices for household services that would be the wage inflation some folks are worried about. participants also expected inflation to moderate over the course of the year. charles, read this directly from the report here and you guys to

debate this. it says consequently most participants suggest faster paces of increases in the target range for the federal funds rate than the post-2015 would likely be warranted should the the con evolve generally in line with the committee's expectations. charles, not a lot of surprises in here, but that last one, that is very interesting. back to you. charles: looks like they're trying to make a decision. imagine that. edward. reporter: 50 basis points 25 basis points exactly. charles: thanks a lot, edward. joining me the ceo of quill intelligence, danielle dimartino booth. what stands out for you, danielle, with these minutes? >> one word stood out to me more than anything else, that was the word significant. fed members felt they needed to reduce the balance sheet by a significant amount. that is a big word. a it has a lot of syllables but b, fed officials they debate these words hours at a time. they're painstakingly allowed to go into any public disclosure whether the statement or the

minutes. so the fact that they already, acknowledged that watching paint dry or the speed at which one watches paint dry is too slow. edward was just saying, that is also a really relevant, i think addition if you will to what these minutes are saying. charles: i find it interesting. they have been out for a few minutes and the market is slightly lower, i mean slightly higher. faster pace is warranted, i mean does that helped credence to a 50 basis-point hike right out the gate? >> you know i don't think that the doves are on board with the 50 basis points. i think that the doves are kind of acquiescing the hawks by saying we'll focus on mortgage-backed securities, focus on the balance sheetings being more aggressive reducing it, faster reducing it than the last cycle. i think they're frightened of the yield curve it is right now and what little leverage that gives them at this juncture. charles: retail sales out today. they blew away the consensus at

least on nominal basis. adjusted for higher costs, loo like inflation is starting to take a toll. you wonder where the money is coming from. people drawing down savings, evidence of higher credit cards. where is this leading too? >> you know what, whirls? i don't know. we've seen something fairly unusual, when you look at the real time data or jpmorgan chase or bank of america we've seen the major bank reports of weekly credit card usage, accelerated use of credit cards in january. this is normally when we make returns from the holiday season to use gift cards. looks like americans are springing out in january. looks like the omicron variant came and went. everybody said go out to dinner. whatever they have been spending money on. it was aggressive, aggressive real time reads on credit cards. that was very manifest in those strong retail sales figures this morning. >> i was surprised to hear edward say this fomc talks about wage inflation.

it reminds me i recently saw a sign for panda express where general managers can earn $69,000 plus a bonus. you think about this how much longer can businesses pass along wage, wage inflation and input costs? also are you surprised to hear the fed talk about wage inflation? i thought that powell sort of kicked the phillips curve to the curb a long time ago? >> i am kind of surprised to hear them talk about wage inflation, wage inflation, price spiral, biggest bogeyman you can talk in the halls of the eccles building. that is one thing they know they have a very hard time combating t was interesting to hear. whether talking about adjusting top line retail sales figures or adjusting wages, once you take the big inflation bite out of them, they're both anomaly negative. so it is difficult to say, charles. charles: i want to ask you about this drama with these fed

nominees. >> yes. charles: someone must have miscalculated tried to put all five of them as a package. that is not working. the central concern is on sarah bloom raskin. senator toomey said36 questions she did not answer, favorable of fintech she involved with received. likely go to the list of these folk approved. will raskin be ultimately approved. do you think? >> i think no. charles: what about cook? >> i think yes. i think he will. charles: brainard? >> iffy. charles: wow. jefferson? >> yes. >> wow. of course powell? >> of course powell but he has his own little trading scandal surrounding him right now as well. you know the backbiting on the hill right now is vicious. i will asked something. when obama nominated jay powell he was nominating a republican in exchange for nominating a democrat. you normally do buy one get one free.

you never do buy one, get four free. that is what they're trying to do with five people. shout out to hashtag term limit toomey. he is drawing the line for american people. charles: a lot of people ease out of washington, d.c. he is going out with a bang. >> he is. thank you. charles: appreciate it. are these small cap stocks, are they ready to shine? we already heard one guest say they like them. we'll find out if nancy tengler does as well. famous investor carl icahn points to his multibillion-dollar fortune the reason capitalism is broken. why do the uber wealthy tell us capitalism doesn't work after they become uber wealthy? i will ask jim bianco at 2:40. ♪. ♪♪ care. it has the power to change the way we see things.

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charles: professional investors retreating to bank stocks and cash as advisory service sentiment seeing bulls plunge to less than 34%. it always feels like the world is less sympathetic pity party, doesn't it? when wall street frets about the loss of easy money. we have laffer-tengler cio nancy tengler. some say there is always a bull market somewhere but i think it's a fool's errand to beat the market every day but what do you make of all the pessimism is creeping in. >> i am pleased, charles. it is hard to be sympathetic but what we see institutional investors pessimism is near historic highs and we have to also remember with all due respect the average hedge fund manager was up 11.9% when the s&p was up over 28%. these sort of short term twists and turns they implement in the portfolios tend not to pay off

with your earlier point. you can't really invest for the next three months. you need to have a much longer time horizon. last thing i say about this, i think they will create a virtuous cycle, the institutional pest ms. pension plans, insurance companies are issuing more bonds. companies are using the cash to buy back stock and corporate m&a. once earnings are done we'll see stock buybacks accelerate. that will drive the market forward. charles: i tell folks, follow the big-time buybacks. they do work. these big time money managers loading up on the cash, how much dry powder do you typically have? what makes you put it to work? >> well, so we usually run fully invested and where we provide defensive posture is through our hedging program and also through asset allocation but we have been repositioning our portfolios. about a year ago we started adding the metals and miners decarbonization. i drive an f-150 we also added

oil and took more defensive posture with the purport foal and garpier names and it paid off because we've been able to outperform the market for the most part in the majority of our strategies. this year that is a pyric victory. if you go down last when the market is going down you will be situated. >> right. >> i encourage your viewers not to run to cash. there is taxable implications. if you buy the right kind of companies and shift your portfolio at the margins you can make money over the medium term without all the gyrations of trying to time the market. >> what about small caps? i love the way the russell is acting. you know, i know that the professionals who invest only in the small cap arena are outperforming anyone else. do you like anything there? >> so we have kind of stayed away from the space because we're not experts. when we do want exposure, you really have to hire people that know what they're doing, that have boots on the ground, that

know managements. so i interviewed a lot of big players over the years and we've employed their strategies for our clients. at the moment we have some better places to be with our inflation strategy. it is doing really well up for the year and up last year handily. we're using that but i think there will be a time when investors turn their attention in particular to small cap value and i think that time is coming. it may be in the second half of the year. charles: does the next few months, two, three months, whether russia, the fed, essentially sounds like you're saying stay the course? >> absolutely. i think we're going to see where we are in the cycle it is too soon to get defensive. i think we'll see rally from growthier names. that sort of sits with the narrative where we are and if you're buying high quality names with dividend growth, devon energy raises their dividend 19%. upss 47%. corning glass wear 10%.

so, that is the best hedge against inflation i come up with. it's a hell of a lot better than cash if i'm allowed to say that. >> can. you just did. nancy, thank you very much. appreciate it. >> thanks, charles. charles: with the big boys and girls that rule the investing world crying in their soup individual investors have been actually pouring billions of dollars into the stock market. someone must have told them, buy low. who knew? etoro investment analyst cali calley cox. you have the pulse of individual investors. you see it every day. are you hearing the same angst we hear from the so-called masters of the universe? >> yeah, so, charles, that's a great point. you have to remember retail investors the biggest advantage they have right now is long-term thinking. there is a lot of angst out there but investors that we talk to they mention they are confident, they're hedged, they know about the risk. they know the fed is about to

raise rates. they have been burned not buying the dip before so they're thinking long term. people tend to forget that retail investors mainly investment for retirement or to build nest eggs, those long-term goals. when you are thinking long term, they have seen what happened over the last decade. they're not willing to miss out on that. charles: speak of i which i saw where you said the fed is making an emergency rate hike here. you made the equation if they do hike in an emergency, like using a fire extinguisher on a candle. by the way, great analogy. but what do you see from the fed? >> yeah, so who knows, right? the fed is one of the biggest questions in the market these days. we're privy to the same information that everybody else has but when we look at the economic and earnings landscape along with the fed, it is hard to think of the fed going to risk any missteps here. there is a lot of talk about a emergency hike here or intermeeting hike. certainly we could see a 50 basis-point hike in march.

i think chances are getting a little higher for that. but right now, an emergency or intermeeting hike feels like a little too much. only because it also feels like the market is kind of losing confidence in the fed. overall that is a small risk but it's a growing risk at the moment but the fed isn't going to risk that by stepping out, putting an emergency rate hike in or stepping out to make an emergency decision and rattling the markets even more. charles: yes. >> i would point out to you that the markets have tightened a little bit on their own. they have done the fed's job for them. the fed is aware of that. charles: small caps, i love the way they're acting pretty nicely, does that reinvigorate individual investors who might have otherwise been losing some patience? i know the russell was the place to be for individuals last year. really to 20 and then 2021 the wheels came off and it is coming back. does that inspire folks to do more investing? >> i love the way small caps are acting too.

i will say at the outset we're not small cap-ex perts. we look at the markets as a whole but the fact that small caps do high in high inflation high growth environments has us encouraged that investors are getting back into small caps. we think they're seeing some opportunities there. overall retail investors are looking for opportunity in this market. they're seeing opportunity in tech. they're seeing opportunity in cyclicals. they are thinking a little more long term what they're going into, the fact they are feeling confident, stepping into small caps and other more risky areas makes us feel a little better where the market is going. charles: i want to ask you about another area where individuals have really embraced and i saw where you posted people can invest in love and crypto. apparently there is a survey that owning crypto makes you more desirable. how does that work? >> how does that work? well i don't want to play match maker, but, i think there are a lot of parallels between

investing and your love life. first of all it is one of the biggest, two of the biggest actually life projects you can embark on. finding love, finding the right investment have to do with your identity, what you're looking for. i think that is the crux of what we were trying to find in the survey we did on crypto and dating. showed people like people who look at money the way they do for lack of a better way of saying it. money, compatibility, is one of the big, one of the big things people look for in a partner. i will add into you, crypto, the community is all about identity and values, right? like these crypto investors are incredibly passionate so. makes sense. charles: i have to leave it there. but i love that explanation. thank you very much. we'll talk again real soon. by the way folks i have a programing note, next wednesday february 23rd, i well host a special edition of "making money," black history month, achieving the dream. the best way in my mind to honor

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♪. charles: as i mentioned earlier of course all all eyes on this russia ukraine drama. the more ominous shadow what happens next with respect to the federal reserve. what is really interesting, powell has been shamed not using the word transitory even though maybe he believes it in his heart others are still using it. according to the bank of america, 52% of money

managers think inflation is transitory. only 39% think it is permanent. joining me bianco research president jim bianco. jim, i got toll i think everyone agreed it is transitory so how do you explain so many pros are in that camp? >> i think they have always been in that camp and i think it comes down to priority. most of the fund managers survey believe the fed's first, second, third priority is growth. they want to make sure the economy grows. they want to make sure employment stays down. you can all it the fed put. they don't want the stock market to create a negative wealth effect but if the fed's priority is shifting towards inflation and they have to deal with inflation and inflation is a problem, 40% of the public does not have savings. they don't own a home. they just get hit and hit hard with inflation and if the fed wants to side with those 40% and start to tighten rates, raise

rates to slow the economy to bring prices down then the growth narrative is out the window. i think what you're seeing with the survey a lot of fund managers still think growth is the priority so that is why they keep saying inflation is transitory. inflation won't change the fed's priority but i'm not so sure. charles: in the meantime everyone has been busy busy business sharpening their pencils, refreshing their models. it has been a while since you and i spoke. have you made a changed to outlook for the economy and fed for the year? has anything changed since then? >> yeah. i'm of the opinion the fed will deal with this inflation problem show they are going to raise rates a lot more probably than most of your guests suggest. probably closer to the six or seven times that the market has priced in. that is going to be a problem for the market. that doesn't mean some horrible bear market or anything but it is going to mean probably what we've seen over the last two months continue moving forward. i think inflation beneficiary

stocks, energy, basic materials, industrials, and the like will do better in that kind of environment, what we refer to as long duration stocks, growthier stocks, like technology will continue to struggle. i do think their priority has changed. i don't think people have really come to grips that for the first time in 40 years the fed is not your friend anymore. they are out to get inflation down. charles: all right. so speaking of inflation got, a lot of folks are blaming capitalism. it is interesting because there is a new documentary about carl icahn where he says capitalism is broken because the decisionmakers are not beholden to true democracy. what do you make of that? >> he's right that a lot of directors of corporations forget why they're there and who they're supposed to be representing. they think they're representing management but they're supposed to be representing shareholders

and a guy like carl icahn has exploited that inefficiency by coming in as an activist investor. now that i said that it doesn't mean that the entire capitalist system has to be torn down to its studs. there are ways we can go about fixing it, probably through proxies, making people understand own part of a company and they don't own a casino chip that will go up or down. that is the the problem, people don't think they own companies, they own casino chips. charles: wish i had more time this is a fantastic conversation. let's being pick it up real an soon. >> thank you so much. charles: president biden blaming russia invading ukraine will cause high gas prices and it will get worse. deneen borelli says biden and the democrats have to own the pain at the pump. she will explain. three stocks will post earnings after the bell and what you should be looking for. we'll be right back.

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♪. charles: so the cost of gasoline continues to surge as crude oil nears $100 a barrel. president biden directs fear on invasion of ukraine and warns americans for more to come at the pump. critics say it is at home. hillary vaughn with the latest. reporter: one of the reasons republicans say americans are experiencing these high gas prices is a decision by president biden to turn down the spilling got on u.s. oil and gas production here at home. and even canceling the keystone xl pipeline. energy second jennifer granholm is obligated by law to deliver a report to congress assessing the number of jobs canceling keystone killed but granholm has been silent, blew past that february 13th deadline without a word. while congress waits for those answers some house republicans are urging president biden to reverse course on his energy policy, not just here at home

but also abroad. a new bill introduced in the house, called midland over moscow, sponsored by texas congressman august pflueger would put a stop to nord stream 2, russia's gas pipeline to germany and start boosting exports of u.s. oil and gas to europe instead. the congressman was on the ground in ukraine just two weeks ago. >> in my conversation with president zelensky energy was the main focal point of the lever that vladmir putin is using as the impetus to invade ukraine. in this case the ukraine will pay a price for it because we had the ability to deter them with our own energy supply and helping people in eastern europe actually diversify their supply and their needs. reporter: and, charles, president biden said yesterday if putin attacks ukraine that nord stream 2 is not going to happen but some republicans think that nord stream 2 should not happen no matter what, even if putin is on his best

behavior. charles? charles: bingo. thank you very much, hillary. president biden is working really hard to connect these dots between gas prices and the russia drama but you know what? let's be honest. this has been a serious matter. it began the day of the election when the president-elect declared war on american oil producers. the administration is desperate. look at biden's polls. the numbers continue to languish. majority of people now will vote republican in the midterms. joining me fox news contributor deneen borelli. deneen, president biden trying to link gasoline to russia. is anybody going to buy that? >> well the democrats will. charles: will the independent voters buy it? i'm not even sure all democrats will buy it at this point either? >> well, look, yeah, there is a huge turn around, i will try not to be funny, charles, listen, when you look at the russia, ukraine uncertainty, that is certainly playing a part in this but biden and the democrats own

the high gas prices because they despise fossil fuel, charles. they want to kill the fossil fuel industry and prop up the green energy industry with is not ready for prime time. it is not sustainable on its own because fossil fuels always comes in to replace what the green energy industry is not able to provide when it comes to our energy demands. charles: right. it won't be a for a long time. what do you make, speaking of being funny, of the white house and democrats now considering suspending the gas tax. they want to suspend a tax. this has to be the mission that high taxes can be counterproductive, right? >> it is kind of funny to hear you say that. it is democrats of global warming, whatnot, whatever it is called today, right? i think it is a good idea to suspend the gas tax, charles, because this will help americans but that is a short-term solution.

it should be long-term solutions like unleashing and opening up our fossil fuels that are available across our country with the oil and gas drilling. that is what they should do. it is about supply and demand. you know the less supply there is, the higher the prices are. that is what we're seeing right now. charles: you know, i want to ask about the other issue we're talking about. russia's part in this. you remember five years ago nato was completely falling apart. none of them wanted to pay their fair share. president trump at the time turned up the heat. people were saying it is unnecessary. everyone is applauding this united nato. here is the thing, u.s. military spending is 71% of all of that. people say this is unnecessary. shouldn't we look at spending as an investment? >> trump did a good thing by leaning on nato to spend more because the u.s. certainly spends the lion's share when it comes to global defense. the other thing is for not other

countries to basically embolden russia, you have germany, that is making deals with russia with the nord stream gas pipeline. that is you know mining nato and empowering russia which is a no-no. charles: it is, listen, europe has done themselves a major disservice and they actually helped create this problem themselves to your point. hopefully we'll all wake up and see, you know what will? all this stuff, it will come in time. we'll have all the clean energy but it is not going to happen tomorrow so we should unleash to your point what we are blessed under our feet. deneen, thank you very much. see you soon. >> thank you, charles. charles: a lot of companies reporting after the bell. i will go over three of them in details that will probably determine where the session goes tomorrow. i will share them plus ways you can probably play them or not play them. i will give you some good guidance next. ♪.

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charles: so, a whole lot of big names reporting again after the close, and they will influence trading tomorrow. we've got to start with nvidia. this is one of my favorite companies forget about stocks i love this company, and stock has a long history of earnings volatility. it can be all over the place. it's down $90 from its 52-week

high, and could still retest the lows that's how much of a trading range it has but once it closes above 270 it becomes very appealing, so i'm not sure you need to force that if you're not in it right now. applied materials on the other hand, i see four year estimates starting higher this after they had a rare miss last time out, now i think this company will beat, i think they also will give upside guidance, there's always a chip thing, still, i think this has a clear shot to a big rally so 147, it wouldn't be in one session but this is one i do like the risk reward ratio. then there's doordash, a very intriguing, because this name really has passed a hype phase and these names come out and everyone loves them they go up and we find out they have no earnings. it was 257 look at that chart. came all the way down they had a string of bad execution, the good news is these earnings misses are starting to narrow, so maybe it's something that you want to watch like airbnb and uber you love the services but they have to start making a

profit so i don't force the issue there. i wouldn't be surprised even though tomorrow it could pop if you're a trader i won't mess around with it so this is what we've been seeing. the steady names have popped the non-steady names have gotten crushed in the meantime, keeping your powder dry might not be the worst thing in the world as i hand it over to you liz claman, the cp effect came in big time. we're not up a lot but we were down. liz: well, look at the s&p now, now into positive territory? [laughter] charles: [laughter] liz: this is one cookey market, putin and powell playing push me pull you with the markets as federal reserve rate hikes and a russian potential invasion of ukraine send investors moving in multiple directions, red, green, all over the place. major indices mixed right now with the s&p up five points now the nasdaq pairing most of its losses down about 19, and look at the dow. the dow had been lower at its lows of 346 points it's now