It is 10 00 oclock eastern, straight to the money. I see green. I went to 40, nasdaq up 100point, a modest rally. Ten year treasury moving up again you are at 4. 71, im surprised thats not taking a bite out of the nasdaq, the price of oil moving down but there is a threat of a wider war and that could be the financial canary in the coal mine so to speak. Of oil goes up i suspect the stock goes down. As for bitcoin there is a rally 28000 small change, that is that modestly that is the market on a monday morning. This is a Pivotal Moment for the biden presidency. If it ran unleashes hezbollah to attack israel were a will our president unleash our military. He warned against any attacks and simply dont he moved to Carrier Strike groups to the immediate area our power is in place ready to be used. The iranians make threats in the foreign minister says i want to warn the war criminals and those that support it before its too late to stop the crimes against civilians in gaza any step of resistance will cause a huge earthquake in the entity. He says iranian hands are already on the trigger that is a clear threat. In the last 24 hours trey yingst reports rocket and antitank missiles have been fired at israel from lebanon one israeli soldier killed in other words biden lays down a redline and the iranians are very close to crossing if they havent already. Bidens credibility is at stake its worth remembering that president obama told syrias leader quickacting your own citizens. That was obamas redline, the syrians crossed and obama did nothing he did not want to upset the iran nuclear deal, he lost credibility. Is biden being tested by iran, fail the test by failing to make a redline stick and war will consume this president. The second hour of varney just getting started. Stuart lisa boothe with us this monday morning. Biden has drawn a redline, now he must maintain it right . Unfortunately i worry that it might be too late for redlines. Obviously our enemies sends weakness and we create hard times and we are in hard times because of a weak man named joe biden. I think we need to pray for israel as a wage this war against the evil terrorist who carried out the biggest slaughter of the jews since the holocaust. Stuart do you think we are sliding towards a wider war in the mideast. It is certainly concerning, we all have that concern and not just regionally i think we have concerns around the world as well when you look at countries like iran, russia and china grove closer and theres a war in europe and the middle east and you have a lot of our enemies flexing their muscles a little bit more like north korea. We are inspired times as a country and its time for a lot of prayer. Stuart do support American Military involvement firing guns and anger, do support that. We need to stand in solidarity with israel not just with an attack against israelis, the mosque terrorists told americans we have americans that are being held hostage right now by these terrorists. I think right now we need to stand behind israel and support of the word that they have waged against the terrorists to strike them. Stuart all move on, changes subject, for discovery desantis says the u. S. Should not accept refugees from gaza, what do you say that. I think that is common sense we worry about 160 terrorists on the watchlist on the southern border in 2023, who knows what we allowed into this country you can look at whats happening on the streets of america the antisemitism People Holding up swastikas cheering on the slaughter of jews in israel celebrating these terrorist, i think we are to hold the problems that exist in the United States and you can look at whats going on in gaza and have questions about the multigenerational hate thats been passed down through families and eyebrow concerns of a terrorist organization like thomas that will be very difficult to vent anyone coming from there. You could look at things in fact like the gazan selected thomas in 2006 and pulling after the 2021 conflicts where majority of palestinians supported hamas after those attacks, you can look at research and you can look at reporting done about the un funded summer camps where they teach children to hate jews to want to conquer israel. We can study things like the 21522016 where you had a lot of youths carrying out knife attacks. Israel concerned about who were leading into the United States. The effort in the public pressure is better suited being applied on countries like egypt to lighted their neighbors, not here in the United States where we have problems that were dealing with. Stuart lisa boothe, thank you for being with us on a monday morning. I want to praise my governor for bringing in almost 300 americans from israel. He is doing the lords work and pick it up where our federal government is failing us. Stuart thank you for being here, always appreciated. Check the markets the dow is up 200 the nasdaq is up 90 and dennis gottman joins us now. Long time no see, welcome back. I know youre a bear and you been up there for a while, what proportion of your portfolio is in stocks . None,. The only stocks i own are etfs for the short stocks 85 of what i own is less than two year notes 7. 5 short the stock market 7. 5 is a longer role i have no stocks at this point i have a odb since july of this year end dont intend to. Stuart you foresee a sharp Market Correction or another crash . Lets not use the word crash lets use the word distribution, lets use the words bear market but lets not use the word crash, i think that is a little overthetop at this point. I do think stock prices want to go lower from here and the consumer has borrowed as much as he or she possibly can and i think earnings will start to show a slipping rather than an increase. I think banks have problems with funding slowing the landing and problem loans out there, real estate is a consequential problem. And if you take a look at the dax in the european stocks in the chinese stocks in the russian stocks in a look around the world all stock market seem to be going from the upper left to the lower right. Im comfortable being modestly short at this point. Stuart what would change her mind and say all dip my feet back into the stock market . If we stop making new lows and go up on better volume and actually going down a big volume and upon light volume. I need to see the internals of the market began to change it i dont see that changing for a while. They could be a long time before the fundamental change and i think we will seattle be a long time before the fed in the process of these humanitarian policy probably late into 2024, maybe early 2025 but before the overall fund rate comes off slightly. It will take a while before we turn bullish. Lets just say we need to the market go up on a stronger volume and stop falling on strong volume at the house for a while. Stuart your earning 5 on the vast majority of your holdings in your portfolio, thats where you are 5 yield. Im comfortable with that as the chairman of the university i made sure we bought a little bit of gold two years ago we move 10 of our portfolio out of stocks into twoyear notes and we are comfortable and im comfortable with the same position of my own account. I guarantee i will get my money back supposedly unless theres a problem with the government that we dont ascertain going to happen right now. Im comfortable for a half to 5 onto a half notes. A very pleasant return. Stuart welcome back, good to see you again. Im sure we will see you again soon. Lets have a look at the movers starting with pfizer up 4 . Is leading the s p 500 right now, earlier i said the ceo said 17 million adults will get the booster in the u. S. , it is 17 of u. S. Adults. That is a bigger number but the bigger number is in line with last year. Why is the stock up, pfizer is cutting costs after cutting the full year revenue forecast by 13 . You see investors sizing up covid companies, but during a calm of biontech, post covid been through this for three years. At the price 17 of americans want to have another covid shot. I dont know anybody. And we live in new york. I have not you think it would be more people. Ive seen a whole lot of masks but thats totally different. Stuart to words manchester united. That the soccer team. Down 12 . The british billionaire Jim Ratcliffe is looking to acquire only the 25 stake in the soccer club, that means a buyout by the qatari sheep will be off the table if this is true ratcliffes bid would be 1. 5 billion. Stuart i think the fans of manchester would like more middle east money coming into the club like it went to Manchester City across the street. Marathon digital holdings. Lets take a look at the Crypto Companies because momentarily bitcoin was above 30000. Investors are pricing and reports of the sec approving the first spot bitcoin etf. Stuart over 330,000 i think thats an accurate number have participated in strikes since the start of last month. Is the union influence growing or are union people more militant. They are that are because of frustrated because of the cost of living and Technology Replacing the. Membership to unions is at an alltime low, 10 of workers last year 14 million were in a union it was double that 1983 so the numbers are smaller. Support for the unions is growing it is at 67 according to gallup. Weve seen recent strikes across many parts of the economy the 75000 healthcare workers at kaiser permanente. 11000 at the Writers Guild those strikes over but the hollywood actors still on strike the autoworkers still on strike in support for them has gone up but membership is solo. Stuart thank you very much indeed. A Bipartisan Panel appointed by Congress WarnsAmerica Needs to prepare simultaneous wars with russia and china. The president is downplaying concerns about our militarys ability to help in multiple conflicts. Hillary vaughn has that report coming up. The fbi director says copycat terror attacks can happen here in america as migrants from across the globe including iran pour across the southern border. Senator Lindsey Graham says if he escalates the word in israel he will introduce a resolution to take military action. Are we ready for a war with iran. Kt mcfarland next. Some things are good to know. Like. Where to find the cheapest gas in town. And which supermarket gives you the most bang for your buck. Something else thats good to know . If you have medicare and medicaid, you may be able to get more Healthcare Benefits through a humana Medicare Advantage dualeligible special needs plan. Call now to see if theres a plan in your area and to see if you qualify. All of these plans include doctor, hospital and Prescription Drug coverage in one convenient plan. 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To receive 50 off installation of your kohler walkin bath. And take advantage of our no interest stuart on the markets on a monday morning the dow is up nearly 250, the nasdaq is up 123. The gain on the nasdaq. 9 , s p. 81 , not a bad gain. A Bipartisan Panel warns the u. S. Must be prepared for simultaneous wars with russia and china. Hillary vaughn does President Biden believe were ready and able to do that. Absolutely he does from treasury secretary janet yellen says the u. S. Can afford to support ukraine and israel the House Republicans need to elect a speaker so critical aid so both efforts is not stalled. The president assuring people that helping israel and ukraine will not come at a cost that the u. S. Cannot take on. Are the words in israel and ukraine more than the United States can take on. Were the United States of america for god sake. The most powerful nation in the history and the history of the world. We can take care of both of these and still maintain our Overall International defense. The confidence is coming as concerns roll among National Security efforts that the u. S. Needs to ramp up defense and prepared to face two Nuclear Threats russia and china the strategic posture a Bipartisan Group appointed by Congress Reports that the u. S. Needs to modernize its Nuclear Weapons and this as the u. S. Military faces recruiting shortages and any hope of passing aid for ukraine and israel remains road blocked until the speaker is elected. House republicans a President Biden has failed to show strong leadership. We need to prevent these types of things from happening. When america shows strength it deters this from the very beginning. We said this with russia invading ukraine and we see it now unfortunately with our good friend israel. The National Defense authorization the massive bill that dictates military spending that needs to be passed by both chambers by the end of the year, something that cannot be done until there is a house speaker. Stuart thank you very much. Senator Lindsey Graham is sending a warning to iran about getting involved directly with the war on israel, watch this. Here is my message. If hezbollah which is a proxy of iran and launches a massive attack on israel i would consider that a threat to the state of israel and accidental in nature and ill introduce a resolution to the United States senate for military action by the United States in conjunction with israel to knock iran out of the oil business. Iran if you escalate this war we are coming for you. Stuart kt mcfarland with us, what is your reading on a wider war, iran is testing President Bidens redline. Sure he is testing the redline and iran has the money to do it because of High Oil Prices thanks to the body to administration more unamerican fossil fuels, thanks to High Oil Prices for iran is the Biden Administration has failed to enforce the sanctions. Iran is selling oil at a high price it has plenty of money to support hezbollah and hamas and plenty of money for further Nuclear Weapons program. Stuart if they send over a shower of blockers in northern israel, then what do we do we have two Aircraft Carrier battle groups, what do we do. Here is the problem israel has never asked us for boots on the ground they have always said we want to be able to defend ourselves, by ourselves, what we need from you american we might need intelligence sharing and backfill our weapon systems and munitions as we draw them down fighting hezbollah and hamas but we dont necessarily want your troops. When Lindsey Graham says that if you wanted to stop iran from supporting the terrorist groups, cut off the oil cut off their ability to make any money because at the end of the Trump Administration we had gotten iran