After the house overwhelmingly moves on a measure that could ultimately ban it. There are a number of steps before you get there but the fact its in trouble is epidemic hadding its social media competitors like snap shares up more than a percent as we speak, rumble shares up around 13 . Well be looking at the fallout with montana governor. He was the first public official in the country to say nothing of governors to put the clamp down on tiktok and try to ban it in his state. Still faces an up hill battle but hes going to update us on how things are going and maybe provide a blueprint for how the feds handle this. Lets get the latest from Hillary Vaughn on what happens now. Hillary . Reporter hey, neil. Tiktok is feeling the heat because congress is basically half way there to forcing the chinese tech giant that owns tiktok, bytedance, from forcing them to sell tiktok if they still want to do business in the u. S. The house passing this bill today means its now in the senates hands. Tiktok ceo expected to be on the hill today for secret meetings with senators trying to sway enough votes their way to stop this effort cold in its tracks. Because the president has said if congress can pass this bill, he will sign it, so, this is really tiktoks last shot to avoid a for sale. If they want to remain operational in the u. S. Republican congressman Mike Gallagher that led the charge against this says tiktok hard fought lobbying effort ended up shooting them in the foot because they tried to unleash their millions of minor users on lawmakers begging them to vote no, proving the point the influence this app has on our kids is dangerous. You can never mitigate against a threat of propaganda on the platform. And for those who think that threat simply doesnt exist, i would point to what happened last week when tiktok forced a popup on all of its users asking for their zip code information an then calling them , members of congress. We had kids calling members of congress threatening to commit suicide if we took action on the bill. Tiktok proved how the platform could be weaponized. Reporter but as much bipartisan support there is for this effort , theres also a Bipartisan Group of republicans and democrats who are opposed to it. Just like every other social media platform, there is misinformation and privacy concerns on tiktok and i share those. However its important that we dont treat tiktok differently than other platforms. If were going to address this issue weve got to take the same approach to all social media platforms. We cant just single out one. Reporter tiktok reacting to the house passing this measure saying, this process was secret and the bill was jammed through for one reason. Its a ban. Were hopeful the senate will consider the facts, listen to their constituents and realize the impact on the economy. Seven million Small Businesses and 170 million americans who use our service, of course if tiktok is really concerned about americans and Small Businesses here if this measure goes through they need to sell it to a u. S. Company to stay operational in the u. S. And neil , its important to remember that even though the president says he will sign this bill, if it gets to his desk, he is on tiktok. His campaign is, so perhaps the white house is hoping this effort is slowlocked at least until may so that the campaign can remain on tiktok until the election. Neil . Neil hillary what did you make of the people, or they make of the pressure donald trump might have applied here because he wasnt keen on this getting rid of tiktok for a variety of reasons, yet overwhelming passage of this measure. Reporter you saw republicans in the house vote against this tiktok measure kind of raising and echoing the point that the former president made that this only makes companies, like meta, that owns facebook and instagram, even stronger. The former president making it clear hes not happy with facebook. Hes not a friend of facebook, and so they think that that would ultimately be bad for them , so you see that effort and well have to see what happens here in the senate, neil , of whether republicans and democrats, enough of them kind of get behind this and get something that they could get to the president s desk. Neil yeah, well given the margin here it is significant that that is renewed pressure on the senate to do just that. Hillary vaughn thank you for that. Greg jan forte the first governor in the country to try to ban Tucker Carlson in his state and kind enough to join us governor, always good to have you. You started this idea that look, the only option we have now if china isnt going to budge, if they arent going to sort of divest themselves, then well divest tiktok and we just wont use it but its an uphill battle still, isnt it . It is, but you know, the cc ps ability to use tiktok to spy on americans neil talking the Chinese Communist party but go ahead, sir. Correct, the Chinese Communist party have used these platforms to spy on americans. China is not our friend and i just applaud the house for taking the bipartisan action they did today. As you noted, we were the first state, montana, to ban tiktok here in the state, because we want to protect the citizens of our state and this country. Neil let me ask you though, governor. The way this sounds its not an out right ban to begin with. Its a parent who gives a child warnings. You better do this first or then everything goes, and then the warning here is that the parent, bytedance, for tiktok, chineseowned and operated, divest itself of tiktok. Get out of the tiktok world but again, even if china were to agree to that or bytedance would agree, i guess they are the same, who to say they will honor it . Well, i mean, youve gotten to the root of it, this is about allowing foreign nationals to spy on americans, and it doesnt matter if its china or north korea or russia. We should not allow these foreign adversaries to have an inroads to our young people in this country and their private information. If they were divested that would cleanup the problem and thats exactly what the house attempted to do. Neil you mentioned the young people as well and apparently one of the things that really maybe backfired on tiktok were getting its users, particularly young users to petition their congressman or whoever so these kids are essentially calling capitol hill and that reinforced the argument that china is manipulating kids. Did did you run into that in montana . We saw the same thing in montana. The platform was weaponized to mobilize their users. We had hundreds and hundreds of phone calls into the State Capitol and many of these young people didnt even know why they were calling. The phone would ring. Wed answer and they would say who is this . And this is all because of a splash screen was put up. It was geofenced into montana. These young people were told to call the Governors Office and complain about the actions to protect their privacy and we took note of them. Most of the callers didnt even know why they were calling. Neil where do you see this going, governor . Of course you led the way on this , still dicey because you have a lot of people fighting your move and the legislature dealing with that but lets say this gets china to blink which is a leap. We dont know that, and it will divorce itself from or bytedance, the parent, from tiktok, as you said no guarantee s they will honor that but that this might be a watershed event in that it cohen danger other sites and social Media Companies having nothing to do with china and an avalanche begins going after social media for being intrusive , spying, all of that. American and Foreign Companies alike. What do you think of that argument . Well, i think this action is restricted to foreign adversar ies. We dont want them to have end roads on to our mobile devices to spy on americans. Thats pretty simple. Divest it, continue to use tiktok but this is a multifaceted approach. Weve also taken the action here to ban the purchase of farmlands by foreign adversaries and weve been building ties with our friends in the region. In fact, we reopened our trade office in taipei, because the taiwanese stand for freedom and we need to stand with people that stand for freedom. Neil governor gianforte, very good seeing you thank you, sir. Thank you. Neil there are a couple different spins on this if you are on any social media, some of the more prominent ones like snap your shares are up a little bit better than Aishah Hasnie percent and a major player like rumble looking tok take advantage of the gap, youre up about 13 . I hasten to add getting tough on china could have a boomerang effect on other Tech Companies extending to chipmakers like nvidia that are now extending and trying to open up and do business with, on a much more expanded basis countries like china so it cuts both ways. Jay woods is joining us right now the Freedom Capital markets chief global strategist former executive nyse thank you so much what do you make of that double potential fallout . Rival social Media Companies maybe good news . Those that depend on good relations or at least keeping relations with china, maybe bad news. What do you think . Yeah, there are a couple thingsment one if they are going to divest whose going to buy them . Would can afford to buy them . Its Aishah Hasnie google or alphabet. These big name corporations. Is that ever going to pass legislation . Were blocking jetblue and spirit. I cant imagine one of these Mega Cap Companies taking over someone of this size, but then getting back to your point. Whose going to or whats going to happen next . Whats the fallout . Look at what apple is doing and tesla. China came out and said something kind of laughable. This is a violation of free speech. I think thats funny, but when it comes to the ramification, yes, people that have that presence in china are going to be effected. They will retaliate, so when apple could be effected, tesla will be effected, and then how down the line does it go . Whose going to benefit from it right now . Were going to look at the big caps again, meta and alphabet. T theres a lot of ad revenue generated from the platform. If you look at the ad revenue generated in the u. S. From tiktok compared to the major peers its like fifth on the list under 3 where google and microsoft, im sorry, google and meta, are about 50 of that market so there are a lot more questions than answers. I think the espionage angle is the right angle as governors talk to us beforehand. I like it was passed bipartisan ly. Its going to be interesting where we go now, but if we go further down this road there are a lot more questions than answers right now. Neil i think youre right but one thing thats interesting again too early to look at the overall fallout, still early in this process, how much we either talk about or depend on, or fear overdependence on china how its doing and how its economy is doing. We dont want it to go into the tank obviously and a lot of these names that i mentioned even when i extended it to the chipmakers and you mentioned apple in those comments, jay, where exposure is considered rewarding intention is generally not so i am wondering whether a market thats been thriving, whether this is one of those unexpected black swan developments whose impact we really never considered. What do you think . Well, i think lets look at the chipmakers and the run they have been on. We know there have been china concerns trying to limit their exposure to china already. Hasnt stopped nvidia. Neil very good point. Its probably a buying opportunity but yes, i dont know exactly which ones will be effected but you look at the mega caps first and to me, it goes to apple and tesla then the chipmakers maybe taiwan semi youve got to watch that one closely and nvidia to a lesser extent but i think they have been prepared for this pivot and how drastic and how quickly it comes thats yet to be seen. It will cause a Ripple Effect but right now, given the run weve been on and its a head scratching run at this point given some of the other Economic Data points weve gotten. I dont think its going to really divert this bull run overall. Neil and i know a lot of the parading is kind of reserved a little bit today, ahead of crucial data that comes out tomorrow including the wholesale inflation report, retail sales and the rest. Oil has been moving up. There are a lot of waves here and headwinds to deal with but what about the overall market . The dow is racing along just fine. Nasdaq and s p 500 are having a tougher time, and the 17th record of the year yesterday so dont cry for them or by the way the nasdaq up in excess of 8 but what do you make of the market tone right now . Well i think right now is a perfect example of what were seeing. Were seeing a rotation and technology is the lagging sector of all 11 primary sectors. The leaders are energy, because oil is up a little bit, materials, financials, industrials continue to do well. Healthcare also in a nice up trend so when Technology Gets weak, the market isnt taking a nose dive overall. Yes, the nasdaq will suffer more because its more Technology Driven but the s p 500 is up, russel is up again today, so there is solid rotation here. That is very bullish, so the overtones while we have some clouds and storm clouds as jamie dimon likes to say in technology with this news, the markets taking it in stride and the big thing well watch next week is the fomc. What powell has to say about the direction and watch that reddit ipo. Im very curious to see how Retail Investors come back to this market. There is an appetite for it they have used here thursday morning on the nyse. Neil you should come down be a party. Neil youre right. Thats an important test on all things technology, so well watch it and social media. You name it. Jay always good seeing you my friend thank you very much. Jay woods. Good seeing you. Neil at the new york stock exchange. By the way we did have other records to talk about though. Bitcoin for a while was at one when it got over 73,000 a coin. Its a little under that right now at around 72, 4 something i believe so were watching whether that continues and keep on eye on history about to be redone. The exact match we had four years ago is on again. Joe biden and donald trump. When is the last time we had nominees identical in the second goaround from the first go around . 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Neil you know, weve only seen it one other time in American History where the guys who went at it in one contest four years later are doing it again. The exact same guys, back in 1952 it was Dwight Eisenhower and stevenson and in 1956 the match again. Both times, Dwight Eisenhower won so could it be a repeat performance with the challenger gets shunted aside . Too early to tell of course because its on right now. Lets get the latest from bill melugin in west palm beach, florida with the stage now set. Bill . Reporter neil, good afternoon to you. Donald trump secured enough delegates last night to become the presumptive gop nominee but hes telling his supporters dont get complacent and start celebrating yet. Take a listen. So were not going to take time to celebrate. Wel