handful rallying in this market. you're right, maria, it's being led by primarily tech and tech-related companies that thrive on relatively steady but slower growth and disinflation. and that was the narrative very early in the year. they most recently gave back some of gains which has weighed on not only their performance, but that of the broader index because of their disproportionate size in the market at large. maria: okay, yeah. >> they'll continue to do wealt- maria: all right, we've got to jump. great conversation, everybody. we so appreciate your time. doug holtz holtz-eakin, mark tepper, gerri willis, we appreciate it. "varney & company" begins now. stuart: good morning, everyone. in, the second important inflation indicator of the week, and here it is: producer prices down, i repeat, down 0.5% last month. however, they were up, but up

only 2.7% in the last year. that means price hikes to businesses are significantly cooling, it means inflation is coming down sharply. all right. on your screens down for the month, up year-over-year but not by much. here's the market reaction. the dow, well, the the dow is going to be opening with a gain of about 60 points. yesterday an early rally on the back of favorable inflation news, well, that eventually faded. don't know what's going to happen today, but we are opening higher. s&p up maybe 13, nasdaq up 72. bitcoin and etherium, they're holding their gains. bitcoin is well above $30,000, 30,300, and look at e etherium, it is now above $2,000. interest rates dropped yesterday, today rates are holding at their lower level. look at that, the 0-year yields 3.38 and the 2-year, now it's the below 4%. i think the 2-year is at, yeah,

3.90. how about that? price of oil well above $80 a barrel, 82.74 right now. gas is up another 2 cents overnight, it's closing in on $4. the national average is $3.64. by the way, five western states -- the california, oregon, washington, nevada, arizona, they're all well above $4 a gallon. politics, "the washington post" has interviewed a young man who says this is he is a friend of the secret document leaker. they were in a chat room together, and the friend seemed to be able to predict what was about to ap happen. he was putting secret stuff out to a small group of men and boys mostly interested in guns and movies. my question, if the washington post can interview the friend, why can't the fbi awe arrest the leaker, for heaven sake? in ireland president biden working the rope line with his son, hunter.

later the president desperately tried to avoid the media. his handlers shooed reporters out of the room, and, yes, the president escaped, no questions. governor desantis calling some republicans who are support supporting donald trump. at this point trump is increasing his support in key primary states. pushback on the plan to force you into an electric car. it's top-down government dick thation, and it's not popular. ten years from now two out of three vehicles sold in america must be electric. on the show today, meghan stays home, brits are happy. chicago gets the democrats' convention. atlanta, not happy. bud light advertises with a trans activist and loses $5 billion in value. maybe bud's not happy. we cover it all. thursday, april 13th, 2023. "varney & company" is about to begin. ♪ finish. ♪ ♪

♪ ♪ i can't get no satisfaction ♪ stuart stuart what a great song. i can't get no satisfaction. >> i'm pretty satisfied that you know a band that we play on the show. [laughter] stuart: it's a wonderful song, and there you have it, midtown manhattan on a thursday morning. big news this morning, producer prices up but only by 2.7% over the last 12 the months. on a month over month basis, they're actually down. lauren's back with us this morning. you're dilling into the report. the standouts, please. lauren: the steepest decline month over month in three years. wholesale prices are coming down a lot faster than retail prices. they're the up 2.7% annually, but remember when they were up 11.7% annually? if.

stuart: that was a year ago. lauren: this is a wow moment. and this is a, hello, fed. what more information do you need to pause? goldman sachs is saying they hike once more and then they pause. two things suck out. two-thirds of decline attributed to a drop in the price of goods, but services fell too. so good news, inflation is coming down. stuart: it's remarkable. i was not expecting that, i don't think anybody was. futures reflect the favorable inflation news. dow's up 70, nasdaq's up nearly 80. adam johnson with us this morning. adam, inflation looks like it's peaked -- >> oh, it has. stuart: looks like the banking crisis is certainly winding down. >>s. stuart: is this the tart of a ralliesome. >> it is. it began last october. the s&p 500 was up in the forty quarter, up in the first quarter, and in in spite of all the angst about the banks, the s&p has been each of the past four weeks.

so while people are wringing their hands and worrying about inflation and recession, thoughtful investors are putting capital to work. stuart: where are you putting capital to work? can you pick out an area or a bunch of stocks that you're buying? >> yes, all you need to do -- remember, i'm the growth guy. i tend to find little companies no one's ever heard of where i think we can double the, triple or quad grouping our money. in the banks, that would be a blackstone, right? which is the largest private equity firm. bank of america, it would be charles schwab. i know you have your money at charles schwab. stuart: i do. >> it's a wonderful place to put money. amazon and google, again, big, chunky companies, are still down 50%. 50, google. facebook has already are more than doubled. nvidia has already more than doubled, wynn resorts has

already more than doubled. there ises a pathway for these other companies, blackstone, bank america, google, amazon, i'll even throw target and disney many there. again, basic big companies we know, we understand, they generate a ton of cash, they have great balance sheets, and they're all still down significantly. that's where you deploy your capital, stuart. stuart: great way to start the show. inflation down, markets going up, says adam johnson. >> yes, sir. stuart: thank you very much, indeed. we're learning more about who may be responsible for the leaked pend gone documents. lauren: excellent reporting by the post. they say the leaker is a young male who works on a military base. he shared documents with an online group that banded together during the pandemic. here's one of his friends from that group. >> he is not a russian or nottive, he's to not a ukrainian operative. i'll go as far to say he's not even on the east side of the world, and he claims that -- any

claims that the he is pro-russian is categorically false. he is not interested in helping any foreign agencies with their attack on the u.s. or the country. lauren: who is he? he goes by the name og, and out of loyal i the, that kid who you just heard from, got his mother's permission9 to speak to the washington post, and he will not reveal og's true identity. but just to the, like, highlight this, this is a paper reporting that they they they -- the think they know who the leaker is. the government won't confirm the leaker or even if the documents are real, and the senate will receive a classifieded briefing next week. stuart: let's bring in congressman ryan zinke, joins me now. what kind of discharges first of all, have these leaks been doing to hurricane? >> well -- to america? >> well, across the board our allies just don't trust us. and, look, the lack of trust started probably in afghanistan,

when that debacle occurred. remember, the first time since 1812 the british parliament actually cent sured us. this certainly do does not help x. and whether the kid had nefarious activity in mind or not, he is guilty of a high crime -- stuart: but, congressman, if the washington post can interview a friend of the leaker, i why can't the, the birx figure out -- fbi figure out who the leaker is and arrest him now? why not? >> well, i would imagine if fbi's had kind of a rough morning. i think they're probably seeing it for the first time. i think they're behind the ball curve and they're going to have to hustle. stuart: okay. i want to change subjects here. listen to the one reporter asking president biden if his trip to ireland was a taxpayer-funded family reunion. roll tape. >> i think there's a perception that the the rest of this week is essentially, you know, tree planting, bell ringing and a taxpayer-funded family reunion.

what would the white house say to that charge, that that this is essentially the president coming to rediscover his roots and that there may not be much substance beyond that? >> i would, not surprisely, dispute that characterization. he is here two days after the 25th anniversary hoof, and i think, feels it's important to send a powerful signal of support by the united states for the progress that's been made, the sustained support going ahead. stuart: congressman, we also showed pictures of the president with his son hunter working a rope line. where's the outrage over taking hunter with him on air force one again? >> well, you know, i deep thely care about northern ireland and that struggle over the years. but, look, that's not even to the the -- even the top 20. we are blindly walking into nuclear conflict in ukraine. we have no plan, we're just giving them a blank check. we are about ready to face off with china in the pacific,

obviously. our allies don't do trust us, and so you look at where biden should be, the president? i think ireland doesn't hit top 20. stuart: do you think he can run for are re-election? i don't think the democrats will let him. what's your opinion? >> you know, i think he's struggling. you know, but there's some good news today, despite this administration's fumbling across the board either economic, foreign or cultural, american economy's pretty tough, you know? so we should all sell brairkts you know what? despite this administration, we're strong. stuart: despite it all, we're doing the okay. congressman, thanks very much for being with us this morning. one of these days i will visit m. just don't hold your breath. >> you know what? the invitation's already out there. by the way, it's snowing and it's cabin season. come on out. [laughter] stuart: if you're not careful, i will. always appreciate it. thank you, sir. >> thank you, stuart. stuart: coming up, a bbc

journalist claimed there was a rise in hateful con edge the on twitter. elon musk shut him down. roll tape. >> if you ask me whether my -- whether it's the got less or more, i'd say slightly more. >> can you name one examplesome. >> honestly -- >> that's false. you just lied. stuart: straight at him. he couldn't think of one example. how about that? president biden tried to take questions from the from press, his handlers intervened. they're returning to the basement strategy. how long can they keep that up for? more on that in just a moment. ♪ i got one less problem without ya ♪

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stuart: while president biden's in ireland, his team back home is dealing with the fallout from those leaked pentagon documents. peter dos the city is with us, does the president have any plans for a formal press conference? >> no. on the contrary, stu, we were told by a white house official on the record that president biden is having the time of his life while he is here in ireland. it's not something you usually hear about a work trip. and in a rare, very quick q&a a few minutes ago, he's downplaying the impact of those classified documents leaking. >> could you give an update on that leak investigation -- >> i can't right now. there's a full blown investigation going on, as you know, with the intelligence community, justice department. and they're getting close.

i don't have an answer. >> how concerned are you about this leak? >> i'm not concerned about the leak because -- i'm concerned that the it happened, but there's nothing contempt the rain yous that i'm aware of that is of great consequence. >> reporter: the accused leaker is a man in his 20s who works on a military base and uses the moniker og online according to "the washington post" which talked to an unnamed member of a chat room where classified materials were shared weeks before the. .gone realized it. it is a chat room that reportedly counts as members some foreign nationals from russia and ukraine. we had the chance to ask the press secretary about it at a rare briefing abroad. the the intel was bad there, and now some more reliable intel is leaking out. is president biden satisfied with the people who are handling american intelligence? >> so what i'll say is, again, doj is reviewing these

documents. we can not speak to the validity of these documents. >> reporter: but some at the white house are speaking to the validity of the classified documents. >> the fact that the, i mean, you've got leak ares of classified information that are out in the public domain and don't belong there. >> reporter: a big theme of these leaks is that it shows the u.s. is spying on some friendly allies. but we are told that they didn't come up at all during a biden sit-down with the u.k. prime minister yesterday. stu? stuart: it's a mess, in my personal opinion, peter doocy. thank you very much, indeed. now this, president biden's handlers, they took him away from the press before he could take any questions. you've got to watch this. roll it. >> we're going to walk out slowly. we're going to walk out slowly. we're walking out this way. we're walking out this way. [inaudible conversations]

we're walking out. we're walking out this way -- months knox we're moving, we're moving. [inaudible conversations] stuart: oh, boy. todd piro's with me this morning. that looks, to me, like the basement strategy. they've started it all over again. but how long can they keep it up for? 18 months til the next election? >> yes, they can, and they should based upon that reaction from the president. this is somebody who cannot answer questions, he can't do that. every time he opens his mouth, he says something that could potentially get our country get in a lot of trouble, and today don't need help in that regard. if i'm the white house, yes, that's the strategy i employ. as a member of the media, i'm appall filed it because we need answers from the commander of the free world, the commander in chief. but if i'm focused on preserving this white house, i don't think you can let the guy out, and if i want to reelect him, i don't

think you can either. and that is a sad state of affairs. stuart: can we put up the video of the president and his son hunter working the rope line yesterday? hunter was there. what's where hunt -- with hunter being there the. >> i mean, you saw the president mumbling to a child the best way to improve your life is to not get covid. st the frightening on another level, he's the leader of the free world, but it's also appalling that they put out a guy like hunter who's being investigated on foreign interference charges in a foreign country to basically run coms for the white house. think about that for a moment. think of the lack of shame. there was nobody else? and i understand this is a biden family reunion on the taxpayer dime, but it shows that they don't care he's being investigated. they're going to the flaunt it and that,s too, is a sad state of affairs in our country. there's no consequences for anything, stu. stuart: that's the basement strategy. todd, you're here for the hour. senator dianne feinstein has not

voted in the senate in nearly two months. yes, she has medal issues. lauren, what do her fellow democrats want to see now? lauren: there are open calls for her to resign and that's coming from ro khanna of california. he saysst the obvious she can no longer fulfill her duties. she's been out since march with shingles. she's 89 and has missed 60 of 82 votes taken in the nat this year. she's also on the judiciary committee that considers nominations to the courts. democrats are openly concerned they don't have her vote to rein in conservative justiceses, especially as we talked about everything going on with abortion and the abortion pill. nancy pelosi calls this all sexist. >> she deserves the respect to get well and be back on duty. and it's interesting to me, the gender -- [inaudible] that are going after senator

feinstein in that way. i've never seen them go after a man who was in the senate in that way. lauren: if fine feinstein resigns, governor began new. >> has momsed a black woman, a lot of people are saying that would be barbara lee. stuart: todd, they've got a big problem because hay can't confirm liberal judges. >> and this attack the, quote-unquote, really isn't an attack. it's looking out if for, one, the democrats' best interests, but also dianne feinstein's. isn't sexist, this is a woman who with, sadly, probably cannot do the job of senator anymore. it's a sad -- it's something we all go through. father time wins against all of us. and so for her sake, i think she should step down. she will be replaced by a democrat, the democrats will be fine. they're not losing anything in the process, but it's just sad to watch somebody on a stage like this -- and i'd say the same thing about the president. we want to con not strength --

con strength to the world, and neither of those people do. stuart stuart check futures, please. the market opens in six and a half minutes. looks like we've got some green just like yesterday. favorable inflation news, aally at the opening bell, who knows where we close. the opening bell will be next, and we'll take you there. ♪ i need money, i need new -- that's what i want ♪

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stuart: all right. three minutes to go, the market looks like it's moving a lyttle bit higher at the opening bell. ray wang with us this morning. rau -- ray, you're a tech guy. lower interest rates and lower inflation, surely that is good news for big tech. tell me. >> yeah. we're definitely seeing a move back to big tech the, lot of it because of the double-digit earnings, and people are anticipating the what's going to happen in q1 earnings, but a lot ofst the being powered by a.i. it's the big players in a.i. that are driving those earnings. stuart: who are the big players many a.i. as we speak? >> microsoft, definitely, as we've seen with chatgpt. they actually announced they're

hugging gpt, they actually create a personal assistant that's offline. so it's kind of like chatgpt but with images and open data that's put together. amazon, what you saw in the open letter that a actually was put out yesterday, they're spending a lot of time building large language models and using a.i. to create efficiencies inside their organization. and of course, google, they're building chips called tpus that are specialized for a. i.. and then, of course, a bunch of other companies that are in the chip business like nvidia building the gpus, and, of course, companies that have a.i. in their software, adobe, oracle and a company called c3. stuart: nobody seems to be abiding by this attempted pause in a.i. development. they all seem to be racing ahead as fast as they can go. >> yes. that pause was a voluntary pause, and i think it was pretty much ignored. [laughter] what we actually have is a

situation where two things are going to the chap in this generative a.i. chase. one, we're going to run out of data, and the exponential information is going on the powering all the other chatgpts, so there's probably going to have to be a pause if at some point. stuart: do you have a favorite a.i. stock? >> somewhere between nvidia and google and microsoft. you're going to see those do really well. stuart: got it. ray wang, see you again soon. just as opening bell is about to wring. concern ring are. we've got, what, 10, 12 seconds to go, and we're going to open on the upside. it's not going to be a huge rally, and i have no idea how we close, but the market's keying off the 2.7% in producer prices over the past year. that's a downside move for inflation, and we've got an upside move for the market just as it opens. here we go. the dow -- the s&p 500 is up 12 points. that's about one-third of 1%. it's at 4,900 for the s&p --

4,100. the nasdaq just shy of 12,000, it's up a half percentage point. big tech, we've been talking about that all day -- in fact, for the last 12 years -- amazon, meta , apple, microsoft is off all of 7 cents. now, amazon's chief executive just roadway leased his annual letter to shareholders. it was today. tell me the key takeaway, susan. susan: andy jasst, second ceo ever at the helm of amazon, and he admitted it is tough times writing that there were unusual number of simultaneous challenges this past year, and the reality is that if you operate in a large dynamic global market segments, conditions are rare -- remember that amazon laid off 28,000 workers, more than any other tech giant so far in the last six month, but they also doubled

their head count during can covid compared to the 20% over at ap. so you had amazon had more to cut. cash cow, the moneymaker, amazon web services, aws, cloud are we know is slowing down dramatically, and he wrote that aws because face short-term headwinds as companies are being more cautious when it comes to spending, growth rates no longer at 30-40% that people were used to. at awc you're look at 20% growth, poised to go the sub-20% this year, and that's why the stock is down around a third since andy jasst took over. you're so used to aws at 30, 40% dub and remember cloud was the new inversion maybe, what, four or five years ago? that was the hot market, innovation now is all about artificial intelligence. stuart: yeah, you got it. there's a transition from that to that. you've got to talk about cryptos. i'm particularly intrigued with

etherium, over two grand a coin. susan: first time since august of last year. this is on that systems upgrade that i told you about. this new upgrade makes etherium, ether, more available. so it increases liquidity which makes it easier to trade and also to use and transact. and that's why ether is up9 in reaction to this but also up 65% so far this year and bitcoin we know is up 80%. but, again, you're not looking at a whole lot of trading volume. as i told you, it's mostly old money and holders of the cryptocurrency looking to buy more and add to their positioning. coinbase and and some of these crypto stocks have done pretty well so far this year. stuart: yeah, they have. susan: you're still down 50% from those peaks. buyer beware out there. stuart: okay. the danish company, i was trying

a danish accent, merrick of ozempic, it's selling like hot cakes, it's a diet drug. did that show up? susan: look at stock price? record high now. to r -- ozempic, the most talked about drug, also they make another diet drug, and as a result they are telling the market we're going to boost first quarter sales and profits because of weight loss drug boom. the stock the, as a record. eli lilly says monojar row could be the biggest selling drug of all time. stuart: repeat that, $20 billion worth in seals a year -- sales a year? susan: projections. it's just incredible. another reason why ely lille by recently hit a record high. america upgraded by citi this morning concern merck upgraded by citi this morning, they said

that the market is not appreciating the drug pipeline which, of course, includes their own diabetes drug and antibody treatmentses. stuart: you've got a lot to get in -- susan: i really want to talk about alibaba soon. stuart: we might if weave got time. tell me about dell a the, because they're up -- susan: not bald. they lost money -- not bad. summer travel continues to boom, and this is the pretty much what american airline ares did yesterday, i saying that higher pay, jet fuel costs means they'll barely squeak out a profit to start this year. but people continue to want to spend to go place after those covid lockdowns. that travel boom continues. stuart: now, you really wanted to get in -- susan: alibaba. stuart: go the it right now. susan: i want to talk about the greatest tech trade of all time. remember softbank put $20 million into alibaba in the early 2000s. at the peak, worth $100

billion -- the. stuart: 20 the million to 100 billion? susan: that's right. the reason why we're talking about it is because this is the end of an era because softbank selling off pretty much all of their alibaba stake, they sold about 7.2 billion last night. but as i told you, everyone talks about this when it comes to investing in this tech. alibaba, softbank, greatest trade of all time. $ing 20 million to $100 billion -- stuart: and it's over. susan: go spend the money on manager else. stuart: he made a fortune, but he lost much of it, didn't he? not all of it -- susan: i wouldn't say concern still a billionaire, or multi, multi times over. of he's still considered one of the best tech traders, and this is his signature bet. but also alibaba itself, i should note they're going through a historical split, as you know, and those five separate company, and at its peak, alibaba was worth about

$500 billion, now it's 25 to -- 250. still significant. stuart: susan, thank you very much. check that big board, please. in business now for all of six minutes. we've started higher, now we moved lore. kind of like yesterday. dow winners headed by dow inc. merck's up there, salesforce and honey welsh, all on that list. s&p, techne, i don't know that one. okay, let's leave it alone. 's today lauderer, i know that one -- i don't know them all. i've only been doing this 50 years. crowdstrike, top of the nasdaq list. data cog do, not familiar with that one either. astrazeneca, got it. pal -- pat low alto networks, cybersecurity going today moon what was the guy we had on? dan ives. lauren: and ray wang. stuart: always liked that that one. 10-year treasury yield is down to 3.38%, and gold is at $2,056.

what else we got coming up? all right. anheuser-busch lost more than $5 billion in value since their deal with trans-activist dylan mulvaney. where's that heading? florida congressman byron donalds came out and endorsed trump, and now desantis' team is trying to stop other republicans from following donalds' lead. the fed expects a banking crisis to cause a recession this year. i'm going to need an economist to tell me how bad that might be. we're going to find one. we'll be back. ♪ and i'll be taking care of business every day. ♪ taking care of business every way. ♪ i be taking care of business ♪

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stuart: this fiscal year and, by the way, we're only six months into it, the federal deficit runs more than a trillion collars. lauren, that is a huge increase from are if last year when biden's supposed to be cutting the deficit. lauren: it's $432 billion more than last year, an increase of 63% in one year. the biggest jump, higher interest payments on the debt. stuart: ah. lauren: up 32%. medicaid spending, social security spending, you name it. but with it sets up this budget battle because democrats want to spend more to drive up inflation which makes it harder for the fed to con a town everything. -- contain everything. so they push rates up. and hen you're spending more money to service your debt, over and over again. stuart: a nasty cycle, i would call it. let's get back to producer prices. they were up 2.7% in the last two months -- the last month. that is a drastic reduction in inflation. anthony chan is an economist, thank goodness, and he's with us this morning. does the fed now pause on rate

hikes because of this decline in inflation? >> well, stuart, the federal reserve will be under more pressure to actually pause, but i think everybody at the fed realizes that we are on a deflationary train. that's the good news. the bad news is that we're on the local deflationary train, and they want to be on the express. stuart: you're an economist. on the one hand this, on the other hand that. do you think the fed will pause in its rate increases? >> answer -- stuart: yes, yes -- >> i want the fed to pause, but i don't think they will because they are so intent on lowering inflation that they will actually cause the economy to move into a recession. i wrote a sub stack article over a month ago before the federal reserve staff talked about the possibility of a reeducation, i've said this -- recession. i've said this on your show, by the end of this year, we will have a recession. the federal reserve knows it, but they want inflation to go counsel. stuart: a direct answer. thank you very much, anthony. you're not done yet.

the manufacturing sector, you say it's losing its status as a bellwether for the american economy. i can understand that the. what's taking its race in? -- place? >> well, i think that other sectors, like the service sector, i just wrote a substack article on that topic. remember that in the '50s, stuart, 30% of the labor force was in manufacturing, now it's 8.3%. that's good news, that is manufacturing sector is no longer a bellwether because we are now reshoring which means we're going to create more manufacturing jobs, we're bringing them home from overseas, so even when the economy slows down, it's not to to say manufacturing won't slow, but it won't slow as much as it has in the past because playing catch-up. stuart: you agree with the federal reserve that there will be a recession later this year? >> i've said that even before the federal reserve said that over a month ago. yes, we will see it because we are seeing all the signs of a potential slowdown. we're seeing it in bank deposits, we're seeing it in the

index of leading economic indicators. stuart: that's true. >> and even when you look at the federal reserve's forecast of growth, 0.4%, that that's right on the edge. stuart: clean cut answers from an economist. i'm not being facetious, it's hard to get a straight answer. got that. all right. of listen to this one. in the last two years, credit and debit card spending is down and down bigtime. how much? >> hope you like my answers as much as his. stuart: well, he was good. [laughter] >> spending on credit and debit cards rose at the smallest case thanks to slower wages, fewer tax refunds and the end of pandemic-era benefits. bofa reporting spending rose .1%, the slowest pace since february of 2021. households that make more than 125k a year dropped in annual after-tax wages for the first time since the heart of the pandemic, may to -- 2020, thanks

to hiring freezes and job cuts. lower income families, lower child tax credits and food stamp benefits were the likely culprits. stuart: good answer. clean cut answer -- >> yea! stuart: coming up, prince harry will attend his power's coronation. his wife meghan will not. nigel franc is going to be here. i'm going to ask him, do the brits want meghan to stay home in california? all right, do you remember this clip? pes -- it's from friends. >> there's still so much to do. have you written your vows yet? >> i figured i'd just buy those. pat, i'd like to buy a vow. have you written yours yet? >> no, but i know exactly what i'm going to say. >> do you happen to know exactly what i'm going to say? [laughter] stuart: people are now turning to chatgpt to write their vows. i wonder if lauren approves. good question. lauren is next. ♪ going to the chapel and we're

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i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck.

♪ ♪ stuart: here's a headline for

you, chatgpt may now be able to forecast stock moves. do you believe that? >> it doesn't matter what i believe. [laughter] this individual, who's a finance professor at the university of florida, does. because he used it to go through news headlines whether they're good or bad for a stock and found its ability to predict the correction the of the next day's returns was much better than random. obviously, it would be baked into the numbers, but misuse of the technology could put high paying jobs in the financial industry at risk. hear about this? 35% of financial jobs are at risk of being automated cold can goldman -- according to goldman sachs. stuart: you're not going to automate me with chatgpt, with are you? >> somebody out there is going to try to do a stuart varney a.i., whatever the heck they're called, and i'm curious to seeit's better or worse than the original.

stuart: that's intriguing. thank you very much, todd. you still with us? [laughter] another chatgpt headline for you. it's the for lawrence actually. people are using gpt to write wedding vows. i don't care whether they're using it or not, i want to know how you feel about it. lauren: i think it's a great idea. stuart: why? lauren: because it solves writer's block. you get a nice, safe bones of the vow, and then you can fill it in with personal details. i love you so much, your smile is infectious. i knew moment i met you that you were the one for me. that's what chatgpt gives you, and then you can say remember that time we were at the park, you just put in a little personal detail the, you've got your vows. stuart: it's totally mundane, it goes nowhere. just repeating -- lauren: do you remember people's vows? do you remember the vows that are spoken when you go to weeding? stuart: i don't think so. >> i don't even remember individual weddings. lauren: did you write your vows?

[laughter] stuart: we better move on from this. >> i leave now? -- can i leave now? i'm so tired. stuart: i hope people are watching this. >> not my family. stuart: college students, this is for you, college students are not so gung ho about artificial intelligence, so college kids, what are they worried about? lauren: they're spending all of this money and time right now in class, and a.i. is developing really fast. it could make the degree the that they're studying for, the career that they want obsolete. >> chatgpt, a lot of the end to end a.i.'s able to complete a lot of the easier tasks. that is a pretty big risk for post-doc engineer, which i've tried to go into. >> every technological answer concern advancement, certain jobs are renders obsolete. >> i think a.i., there's still a long way for it to go to the really reach, like, the quality a human can produce. lauren: so i would say psychology is safe. you need the human touch.

journalism, right, if you have a lot of a.i., that's a lot of misinformation potentially, question marks on sourcing. i think the i to our jobs are safe, but many jobs are at risk -- stuart: what do you want in a college education? lauren: experience. stuart: don't you want to rub up against other people and test your brain against them? do you want to stare into a machine all day long and get your answers from a little what chien? do you really want that? lauren: but i think that's what the kids were saying, we're here to learn, to earn our degree, to get experience that might go away because the computer's going to do it. stuart: free speech on college campuses would help, wouldn't it? >> obviously, i see what you're going, but i understand what those people are saying. i'm 45 years old, i'm done with book learning. i'm stopping, i'm done. the next time i'm going to be auditing a class at some community college at 75 years old on world war ii. everything from this point forward is life experience. i don't have time or resources or anything to go back to the

college -- lauren: and the college experience is totally going to the change as well. the tests are probably going to be the more verbal and more about personal life experience, because everybody's going to be using a.i -- >> imagine if you shelled out all that money and your degree could be uselessesome that's scary. i understand their plight. lauren: so do i. stuart: i'm glad i'm old. i didn't have to go through this stuff, i really didn't -- lauren: it's like the internet, when i was in grad school, i went to columbia. they had the stacks, and i studied shakespeare. so you go in these small, little hallways with these winding, dark staircases, and i'd come down with all these heavy books, and i'd take notes. now you just do it on the internet. >> or have chatgpt do it for you. that lauren exactly. see? i don't want to go back to the spiral staircase. stuart: todd, thanks for being with us, lauren, stay with us for the next two hours, we need you desperately. still ahead, jason chaffetz, ben

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