A recession and the market rallies. We will figure it all out for you. Varney and company is about to begin. Stuart check the big board. A very modest rally. We were up 80 points a few moments ago, close to 18,000. However we got a modest rally but we have negative numbers on the economy. Retail sales went down. The layoff rate went up. But we have the ukraine peace deal and that is helping the market. Not much but we got a little bounce out of it. Heres the news on you cream. Vladimir putin announced a ceasefire that will go into effect in Eastern Ukraine midnight on saturday. Washington times online opinion editor Monica Crowley is here. Lets deal with russia and ukraine first. Theres a lot on the plate this morning, i say Vladimir Putin won. We have been down this road with Vladimir Putin and the snake ceasefires. We have seen this routine before. It is a temporary measure for him to regroup, reorganize and 3 assaults ukraine. He is not going to stop. His ambitions are not satisfied