♪ ♪. stuart: all right. some lively upbeat music. let's go, calvin harris, et cetera, et cetera. good morning, everyone. it is 10:00 eastern. let's look at the money this monday morning.

we've been in business half hour on wall street. the dow is up 229 points. the nasdaq is up 54 points. that is the best part of half of 1%. some green. you can maybe call this the calm effect of banking crisis which offered relief to investors at the moment. 10-year treasury yield going up. it is pack to exactly 3 1/2%. the price of oil is back to 70-dollars per barrel. at least it was a few minutes ago. it is $70 a barrel this week. bitcoin, we haven't checked this morning, at 27,700, that is not much change. that is the markets this monday morning. now this. trump gathered his base in waco, texas, saturday. it was a classic trump rally. flags everywhere. he said he won the 2020 election but voting was rigged against him. and he claimed to be the victim of a legal system weaponized against him. well the crowd loved it. it sure looked like the trump

base is still with him 100%. prior to the rally trump was sounding off on his possible indictment by new york d.a. alvin bragg. he called bragg an animal. appeared with a baseball bat threatening death and destruction. i have to wonder about a presidential candidate taking that kind of approach. the base maybe 30% of republicans stick with him no matter what he says or does. the rest of the party, independent voters, do they want to return to slash, burn insult politics. new pole in iowa, desantis leads trump. in new hampshire, another key primary state 77% view desantis favorably. 69% trump. go back to the waco cali fora moment. muck mocked desantis using a plying, fleeing, begging voice.

you will hear it in a moment. the crowd fired up on everything else wept noticeably quiet. what does that tell you. i will sum up the stay of plate like this. republicans like trump policies. they don't much care for his style. they like him to change but he won't. he may win some primaries if the keeps the base. he won't win the general because the base is no longer big enough. this time around he won't carry independents. second hour of "varney" just getting started. ♪. stuart: let's get back to the waco rally. trump went after ron desantis at the rally. watch this. >> so he came and he really wanted. you can't win, can you? how do you can win. sir, if you endorse me i will win, plea, sir, please endorse me. so what happened. let's give it a shot, ron. and i endorsed him and he became

like a rocket ship. remember one thing, florida has been tremendously successful for many years, long before this guy became governor. stuart: you notice how quiet the crowd was when he was bashing desantis? they were fired up for everything else but not for bashing desantis. charlie hurt, seems like trump's people like trump's policy, not so much the style. he may win the primaries but not the general, what do you say about this. >> i'm not sure that, these people were at the rally don't like his style. i think they do like his style. the problem what they don't like, they don't particularly like the attacks on ron desantis, because they, while they prefer donald trump, including his unusual style they view ron desantis as as a very good and bright future of the party. the good thing for donald trump

is that there are few politicians who are faster learners than this guy. he will trot these things out. he will try these attempts at, going after ron desantis. he will find out pretty quickly if his audience doesn't like it. he will then figure out something new, to me i think that is a very effective way to do politics. stuart: let me get to my basic theme here. >> yeah. stuart: i don't think america wants that kind of behavior in a presidential candidate. i think they are tired of it. i don't think they like to see him wielding a baseball bat prior to some possible charges in court. i just don't think it goes down well with a majority of people. what do you say? >> yeah. i think you're exactly right about it. i think even in 2016 people would have rather not had to turn to somebody like donald trump. the question is, you call it the slash and burn politics, a good description of it, the alternative using the entire

judicial system to prosecute poem for their political beliefs which is also what we're seeing going on in this country today. and we have, democrats in new york specifically with alvin bragg doing exactly that, pursuing donald trump because he doesn't like him politically and when you're faced with those two alternatives, a democrat party that is out of control, that refuses to, to follow the law, who weaponizes the law, to go after opponents, refuses to fix the border, address crime, if the alternative is between that and somebody doing slash and burn politics that we may not particularly like people will go with the slash and burn politics and probably the best solution for us is to have republicans learn how, pick some of that ability from trump to fight democrats when they to completely off the reservation as they have, more effectsly,

and ron desantis is one person who has done that pretty effectively and is going -- this will be a the great primary, stu. the fight between the two men will be an epic battle. i think whoever emerges from it is going to be unstoppable. stuart: fair enough. charlie hurt, that is good stuff on a monday morning. we'll take it. >> great to see you. stuart: you got it. on politics, lauren has the story about senator elizabeth warren. the news is? lauren: she is running for re-election to the senate? stuart: which means? lauren: no presidential ambition for her other any other cabinet office in 2024. she has been representing massachusetts since 2012. she had a slickly produced video announcing for a third term. universal child care, wealth tax, strict rules on banks and climate change. those are the four pillars of her platform running again for the senate. stuart: she is a socialist.

thanks, lauren. get back to the markets, please. i see green on a monday morning. dow up 200 points. s&p and nasdaq higher. jason katz with us, is this a calm before a storm, or just calm we don't know what's coming? >> there is a storm coming but i'm not so sure it's category 5. i don't think that storm necessarily is for the stock market, it could very well be for the commercial real estate market. stuart: really? let's definitely delve into tha. commercial real es rate market do for a crash. >> we have all the scar tissue from the great financial crisis. that was definitely an asset problem. at first this was a duration, an interest rate issue. we're emerging from this who's next phase. there may be some institutions to go but we don't expect an

avalanche. so what i mean by the storm for commercial real estate many of these banks have a lot of commercial mortgage-backed securities on their portfolio. we didn't hear the treasury saying they would lend 100 cents on the dollar with respect to those loans. so i do think in the months ahead while we won't see a lot of bank failures we will see a lot of commercial real estate failures and that is what the economy has to contend with next. stuart: do you see a recession coming? >> i think it's fait accompli. look higher cost of capital, tighter financial conditions as a result of fewer banks, those that are left doing less lending mean as recession really isn't if, it's when. look i know i sound really draconian in our views. my view the recession will not be a knock out, drag out one, very long in the tooth. this will not be a two quarter phenomenon. this will take at least four

quarters. the good news is that stocks are up this year. if you would have told me january 1 three bank failures, credit suisse take-under, 500 basis points of rate hikes we would be up 13% on the nasdaq i would say you were crazy but look we pulled forward so much of this last year i do think equities could absorb a lot of this news. it is commercial real estate i would be mindful, careful with. stuart: we hear it. jason katz, thank you very much. see you again later. >> thanks, stu. stuart: lauren back looking at movers including barrick gold. gold hit what, 2000 bucks an ounce last week. lauren: it has backed off. it is losing its luster as a safe haven it has been for the past two plus weeks because we're seeing some positivity in the i think banking sector. investors are going back into equities. just wanted to point that out. stuart: next one, next mover is pinterest. lauren: ubs upgrades them to buy. they say the stock is going up

30% to $35. they're up five and change now. revenue should grow 20% next year because of all the advertising partnerships and initiatives. stuart: okay. don't tell me, we now have a cruise line in the most active, not most active but moving very much. lauren: it was up in a big way! earnings. this is the year for the comeback for cruises. they grew their sales at carnival close to prepandemic levels. i will define that for you. 4.4 billion in the first quarter. it was 4.billion in the first quarter of 2019. so close we're not as worried about covid anymore. we're spending a lot of money on ships t was a huge winner. now nothing. stuart: now it is not. it was a winner. now it is not. one more for you, work from home job postings. i believe they're hitting a record high in some cities, work from home. okay. lauren: michigan topped the list. first i said, wait, they have so many auto manufacturer plants,

you have to show up at a plant. stuart: right. >> also the state closed down during covid the longest. lansing, michigan, tops the list. 39% of job postings are remote. you can work from home. look at that, compare to bradenton, florida, 2 1/2% of postings were work from home. stuart: very interesting. lauren: right? anecdotal in a sense. how different place, different states handle and view things. stuart: thanks, lauren. putin said he will station nuclear weapons in belarus. mike tobin has the report on that coming up from ukraine. republicans are sounding the alarm after iran backed missiles struck u.s. military bases in syria. they say biden's week foreign policy is to blame. we'll cover it for you. former secretary of state mike pompeo that beijing is trying to control the chick levers of the world by deepening ties in

africa roll tape. >> no doubt xi xinping is trying to control the whole world, nations in africa. two-ways, buying up rare earth minerals the nation desperately wants for climate change program and second buying up political leaders. stuart: vice president harris is in africa this week. can she keep them away from china? kt mcfarland takes it on next. ♪. your best defense against erosion and cavities is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works. this small thing, is the next big thing in dia this s woah.hing, it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way.

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after putin announced he will station tactical nuclear weapons in belarus. mike tobin in ukraine. what is the latest, mike? >> reporter: well, stuart, the european union is now threatening sanctions in light of that announcement from putin he will base tactical nuclear weapons just north of ukraine in belarus. eu foreign policy chief said the group of nations stands by with additional sanctions or with further sanctions. over the weekend during a television interview putin said he would position nuclear weapons in belarus but keep them under russian control. said he was doing great britain included depleted uranium rounds to ukraine. he eindicated them to a dirty bomb, they are armor piercing not a radioactive weapon. putin says he is just copying u.s. strategy with forward deploying nukes. >> translator: why do the americans deploy nuclear weapons for their allies on their

territories? pilots how to use these type of weapons if needed? we agreed we will do the same. without violating our obligations. i emphasize, without violating our international obligations on the non-proliferation of nuclear weapons. >> reporter: battle for bakhmut to the northeast of this country is longest battle of the war. it is described as a meat grinder because of number of fighters, particularly russian mercenaries died there. the commander of forces for ukraine has said the fight is entered into a tense phase. a village was hit by shells. ukraine says two civilians were killed. announced ukrainian tank crews completed on rapid training on challenger two tanks. the british tanks will give the ukrainians advantage with precision electronics and armor. they're receiving german leopard tanks from number of nations.

"der spiegel" said two showed up from a europe. number of countries, spain, finland, are donating leopard tanks. u abrams are expected in the fall. zelenskyy just met, the largest nuclear power plant in all of europe the concern with it under russia control is it may run out of water come summertime. stuart: mike tobin. thank you very much indeed. i will list a few items here. saudi aramco signed a deal to build a oil refinery in china processing russian oil. saudi arabia is considering using chinese currency, yuan, instead of dollars for chinese oil sales. honduras dumped taiwan to establish diplomatic ties with, china. xi and biden might not meet. kt mcfarland with us.

this adds up in my opinion to a solidifying the new world order with china running things against the united states. i want to know what our response is or should be? >> you absolutely, you're absolutely dead on right. this is the chinese global world order that the chinese are moving at very smartly to establish. you know, in the last month, think of what has happened. deals you talked about, saudi deals with china. the saudi brokering a peace agreement between saudi and iran. the chinese going to russia, basically backstopping russia for the ukraine war. the chinese president saying two really important things. about a week ago he gave a speech saying to the third world. and he said you know i'm proposing a chinese global initiative, peace initiative for civilizations. china is going to stand guard on the world. but all other countries in the world keep your culture, keep your society, keep your corrupt

leaders. we'll probably bribe your corrupt leaders. xi xinping is saying unlike america we'll not shove work ideologies down your throat. we'll do whatever you want to do. when the chinese president said last week with, russian president standing next to him, we'll see a change a rapid change, the world has not seen in 100 years. he is saying everything to endorse the global world order that china is going to run at the expense of the u.s. meanwhile what is the biden administration doing? nothing! they're kind of ignoring the problem. they're in denial. they won't admit that we have an issue and they won't do anything about it and they're so focused on the green new deal and woke ideology they're not paying any attention as they ought to changing the dynamic in america foreign policy by fixing our economy, going on the offensive with green energy, forget it. forget the war own fossil fuels. america should be the energy dominant country in the world and we are not. stuart: vice president harris is

going to africa this week trying to counter china's influence in that region. i have a suspicion, kt, this is partly about cobalt mining, vital to electric cars, centered in africa. china owns the mines. employs child labor in these mines. it is cobalt is all about in africa, isn't it? >> yeah. it is cobalt, it is rare earth minerals and then it is also, africa is very rich in a lot of natural resources. that is why china in the last 10 years has been buying up not only african leaders, buying up more and more companies in africa. they're not employing africans to run the companies, giving jobs to africans, they're bringing chinese in. they have a presence on the ground in every one of these countries. not chinese military, chinese economic presence in all of these countries. did the same thing in south america. they have done the same thing in indopacific region. the chinese moved out all over

the world and they know that the growth of the world economy in the next 20 years is not going to come from europe or even asia. it is going to come from the global south. it will come from africa. it is going to come from south america. coming from southern indough pacific countries. china is already in the countries. if the vice president of the united states so going there to talk about her woke ideology it will fall on very tinners. stuart: thank thank you, kt mcf. see you soon. >> thank you, stu. stuart: this is related note, pentagon wants to team up with silicon valley star yups. what is this all about? >> reporter: to fund new weapons technology. there is concern the consolidation in the husband weapons industry led to dependence with a few hearing companies that rely on government fund fog research. that in turn is hurting

innovation. they say china pulled ahead in key technologies ranging from small drones to hypersonic missiles as beijing tapped external public/private funds. by some estimates beijing's capital infusion into the tech sector has exceeded one trillion dollars. one analyst says china is organized like silicon valley. the pentagon organized more like detroit automaker, right now it is not a fair fight. that is why they say the pentagon should get hand in hand with silicon valley. stu. stuart: thank you, ashley. now this, panera bread plans to better serve customers by storing your biometric data. how will a restaurant chain serve me better by using my biometric data? we'll try to answer that question. president biden and his administration will kick off the investing in america tour tomorrow. as america's faith in biden hits a new low. peter doocy has the story from the white house after this.

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stuart: one hour worth of trading on monday morning you. you will like it. dow up 180 points. half a percentage point. nasdaq up a fraction, 17 points. lauren is up with movers. roku is a mover. lauren: it sure us. susquehanna upgraded them they're going to $75, $10 from here. they say motion of the opportunity for roku lies ahead. budgets are moving away from linear tv towards connected tv. stuart: that is true. they're right on that one. biontech. lauren: full year outlook missed by a mile for revenue. missed by three billion dollars. mostly because of their covid vaccine with pfizer. biontech is predicting sales to be a third of what they were last year as the vaccine moves to the commercial market. stuart: show me alibaba please. i heard a report this morning that jack ma has been seen. lauren: for first time in china in more than a year. stuart: he is the founder. lauren: he is the founder of

alibaba. he resurfaced at a school he founded where alibaba is headquartered in china. so why is the stock down 1%? i would think does that mean china is welcoming private business once again? there are some industrial numbers out of china down about 22, 23% in the past month. so they're hurting as they try to reopen from covid get back on track when it comes to the supply chain but chinese stocks are down today. alibaba is one of them. stuart: thanks, lauren. president biden, vice president harris, members of his cabinet and first lady they are about to head on a tour. they're trying to convince america biden is on the right road economically, 20 states three weeks. peter doocy at the white house. i think this might be a tough sell on the economy, peter, what say you? >> reporter: they're working on it, stu, we're piecing together how this will work. initially got a press release on friday, investing in america

cabinet meeting today at the white house, but that is not on the president's schedule. that is not something he will get involved in. he will be headliner on this 21 state tour though, touting the economy. we've got a map. there are some battleground states on there. michigan, nevada, ohio, pennsylvania. some safe blue states, delaware, california, new york. some red, tennessee, arkansas, oklahoma. those are some of the stops. as americans grow disheartened. just 21% of those polled on "the wall street journal" saying life for their children's generation will be better than it has been for them. 78% not confident in that. the big drag on all of this is the economy. a majority, 54% are describing the economy these days as poor. policymakers are not seen as making things much better. 47% say the state of the economy is going to get worse over the course of the next year. that is more than triple the 15% polled who say that the state of

the economy is going to get better. the white house knows that over the last couple months anytime that talk, national dialogue shifts to the economy it has been about banks that don't have any money anymore. they are trying to change that. stu. stuart: i hear it. peter, thank you very much indeed. i think we missed a leaf blower. i heard him warming up behind you. he is on his way. >> reporter: i know. he will get me next time. stuart: thank you, peter. congressman dan newhouse, republican from state of washington joins me now. congressman, what is this massive tax-and-spending bill? if it passes in its entirety, huge spending trillions of dollars, massive tax increases, trillion dollars, what does that do for the economy? >> well it can't be good. you already know that costs are increasing for all americans, cost of energy. i'm a farmer. cost of every single unput that we need to produce what we do on

our farm throughout the country, cost of groceries, everything is going up. we know for a fact when you, inject that much money into the economy, the results are clear, inflation continues to rise, the fed is continues to increase interest rates to try to get a handle on inflation that puts so many more things out of the reach of being able to purchase by americans. we don't, we don't need more of this kind of manipulation of our economy. we need to get our economy back on track, get people working again, get businesses on the road to success. we can't keep taxing our way into prosperity t never works. stuart: i want to talk about fentanyl. you have op-ed, fighting to help our communities to fight fentanyl. you're looking for much penalties for dealers. will that go far to stop the

inflow of fentanyl, congressman? >> honestly it is one step of many we need to take. i think some of the drug dealers, selling fentanyl-laced pills, disguised as other things are literally committing acts of murder on our young people in this country. increasing penalties on individuals committing crimes, i think this is very important part of this. it is only a small part. we have to first of all, precursors for these drugs are coming out of china. we have to do all we can to get them to stop exporting to mexico where they're being infused into different types of pills. manufactured into the drugs that we're seeing coming across our border. we have to seal the border from that. we have to do all we can to stop the drugs from coming across. once they get into the country, so many things need to happen. partly increasing penalties for

selling the stuff. we got to get to the people who are hookerred on these things, give them counseling, treatment to get off of them. one encouraging thing i learned about, there are several organizations reaching out to the younger children so we get to them before they get hooked on these kinds of drugs. i don't have to tell you this has become a scourge in our country. in the last 12 month over 100,000 people have died of drug overdoses. we've got to do something. stuart: congressman, last one, i got 30 seconds, would you accept american, america's military taking action against the cartels inside of mexico? >> i think that this is, like i said, 100,000 people in the last 12 months, that, if you remember the vietnam war we lost over that long period of time was almost 60,000 people. this is a huge crisis. we need to pull out all the stops. we need to bring every resource available to us to stop this

stuff coming in from the border. i think the national guard is an excellent idea to be part of the solution. stuart: congressman dan newhouse, thanks for joining us this morning on very important subject. >> thank you, sir. stuart: levis, the jean company obviously will start using artificial intelligence a.i. models to show off clothes online, doing it in the name of wokeness. we'll explain. chatgpt released a new version of the chatbot but the misinformation coming from it may have gotten worse. that report is next. ♪.

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stuart: markets i see green but not as much green as we saw about an hour ago. the dow is still up. only 130. it had been up well over 200 points. marginal, small gains for s&p, and for nasdaq. okay. twitter says part of its code was leaked online. i want to bring ashley into this. what exactly happened and why should we care? ashley: we're talking about the basic commuter code on which the social network runs. it is its own personal code. according legal filings, the systems where the code was posted to identify the alleged violators. twitter says the postings infringe on copyrights held by twitter. there you go. it is theft says twitter. latest challenge, elon musk, who is also facing a probe by the ftc, the federal agency looking into mass layoffs at twitter.

trying to obtain apparently internal communication as it looks into the company as privacy, cybersecurity practices. not a day goes by we don't have a twitter headline, stu. stuart: we make sure we have a elon musk and twitter headline, every single day no matter what. thanks, ashe. newest version ofca. fpt is out. it delivers misinformation more than the previous. lydia hu on the late chest xp t 4. >> reporter: the problem is not just misinformation but convincing misinformation. this is from a report called news guard. destested how gpt-4 tested questions for misinformation. older version generated false narratives 80 out of 100 times. the new version, stuart, generated false an misleading claims 100 times. these new findings are igniting

questions about open a.i. claims that the technology is getting better. the company claimed that chatgpt 4 is 40% more likely toe produce fact all responses than the prior version. i tell you i did not respond to my request on this report. still, stuart, there is lot of enthusiasm here around the do hundred of artificial technology. bill gates calling eye eye as revolutionary as the mobile phone and internet saying quote, it will change the way people work, learn, travel, get health care and communicate with each other. entire industries will reorient around it. we are starting to see those things. companies moving to adopt a.i. you see some of them here from tech to fashion, travel, even fast-food. artificial intelligence is changing how we acquire goods and services and even dine out. get this, 58% of casual dining operators, restaurant operators say the use of technology and

automation to help with the current labor shortage, it is going to become more common this year, stuart, but that also under source a big question, how will it affect our jobs? will it take our jobs? create new jobs? make us more efficient? how does it affect the workforce? stuart: the gene any south of the bottle. we don't know how it will be develop. >> reporter: not going anywhere. we got to get with the program to figure out how we leverage it. stuart: good stuff. lydia hu, thank you very much indeed. ashley, come back. i want to hear about panera bread. what is it about the pay with the palm of your hand? tell me know. ashley: take toasted baggett sandwich right there. amazon one in locations in st. louis. planning to expand the biometric technology to 10 or 20 more stores near amazon headquarters near seattle. customers need to register for

amazon 1 and link the pa nair i can't account. you hold your hand over a scanner that identifies unique palm signature, better than a fingerprint some say. company says it is natural evolution of using biometric technology to make it more convenient, drive loyalty to brands and easy payment. panera says it does not get any biometric data. they say that is held by amazon. you can do that, say, thank you very much. not sure what i think about it but it would be easy. stuart: there you go, if it is easy you probably do it. lauren is with me, she is looking at palm of your hand. are you looking at hairs on the palm of your hand? lauren: i go to panera ordering is very easy there. very easy. multiple ways to do it. i don't see why you would insert biometrics into it. stuart: they see a reason for it. show me the regional banks. they're all up this morning and that is putting, not a floor under the market but giving

encouragement to investors who want to buy stock. all regional banks are up this morning following a successful takeover, if you want to call it that of svb. do you winners, dow winners up 120. ibm, american express, goldman sachs. s&p 500 winners, what are they? first republic. why not? they were a troubled bank coming back a bit. comerica, a regional bank. hewlett-packard up a little bit. tesla is on that list, up 2% exactly. comcast, astrazeneca. merck, libra don't know that one. congresswoman alexandria ocasio-cortez made a tiktok video calling outlaw makers who want to ban it. we have new information the congresswoman's connection to the chinese owned app. we have details on the connection. utah getting parents consent to use social media.

spence sorry cox, the governor will be on the show to explain how it works. ♪ and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now

fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 years old. [laughing]

stuart: market this morning the dow is back up a little bit more. we're up 152. fractional gains for the s&p and for the nasdaq. maybe the softening of the banking crisis is helping investors this morning. remember when democrat congressman jamaal bowman called efforts to ban tiktok racist. he has more to say on the subject. ashley, what is he saying now? ashley: he certainly does. he is now arguing that a nag tiktok ban is fear-mongering by republicans. lawmakers he said should focus on a broader data security bill. here is what he told msnbc. listen. >> to ban tiktok is to, you know, put a bandaid on maybe a small scab versus what is happening in the whole social media landscape. we need a national data privacy

piece of legislation. ashley: bowman claims republicans are using fear tactics to fuel backlash against tiktok. he says he is disappointed some democrats joined that cause. but a bipartisan bill right now is in the senate. it would give the executive branch more authority to regulate foreign technology such as ticktock. ultimately give it the power to ban or force a sale. bowman says it is fear-mongering by republicans, stu. stuart: congresswoman alexandria ocasio-cortez is against any ban on tiktok. watch this. >> congress has not received a classified briefing around the allegations of national security risks regarding tiktok. so why would we be proposing a ban regarding such a significant issue without being clued in on this at all? it just doesn't feel right to me. stuart: okay. hold on a second. analysis from fox news digital shows tiktok's parent company, that's bytedance, gave hundreds of thousands of dollars to black

and hispanic caucus non-profits. aoc is in the hispanic caucus. got it. governor the utah is spencer cox, he joins me now. first off, governor, great to have you on the show. should there be a flat-out, all-out ban on tiktok? >> well look, we have banned tiktok on state commuters. that is very important to us. and, you know that previous congress person talking about how it is the same as all of these others it is not. now i agree there are data privacy issues with all social media companies but what we know about tiktok, what is happening in china and their relationship with the chinese communist party, i would absolutely support a ban on tiktok. stuart: got it. let's move on to your state. utah, the first to require children get their parents consent to use social media. take us through the process. how would this work? >> the good news is which have one year to work on that

process. we're working through all of those details. we believe that social media companies have been running an experiment on our kids, really on all of us. they're the only industry in the world where we allow 14-year-olds to enter into a contractual agreement for data harvesting. and it is, we know it is destroying families. it is destroying our kids. so the idea here, stuart, is that we would, the social media companies would have to do some sort of a age verification. i want to be very clear on this point. we're working through what that looks like. what we're not proposing facebook, for example, would get your driver's license, keep that data. we know that they're not trustworthy when it comes to data leaks either. most likely we'll be working with third party age verification sources where they do not keep any of that data, looking to use blockchain to make that transition. there are lots of options out there. we'll be working through that over the course of the next year

as we work to protect families and empower parents. stuart: at the moment you're not looking to ban youngsters from social networks? you're looking to put parents in control of their childrens use of social networks, that right? >> that's absolutely right and that is the key point. what we hear from parents, i'm a parent myself we need more help when it comes to regulating these within our own families f a parent wants to have their child unfettered use of these platforms. they can do that. that is totally up to them. it creates a minor account. there are a couple of things that are important. shuts off 10:30 every night unless the parent overrides that. it prevents data companies harvesting their date dark advertising directly to our youth. these harmful algorithms they use to keep them addicted that will be also illegal with young people. stuart: fascinating n development.

governor spencer cox of utah thanks for being with us. more "varney," the 11:00 hour es innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

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>> if up to line up all the things that donald trump has done that aren't the way other people do t i agree, there's a lot of things people don't like about him. but at the same time there's a lot of people that like the strength he shows. >> americans aren't buying whatever it is that joe biden is