♪ caroline: from bloomberg world headquarters in new york, i am caroline hyde. romaine: i'm romaine bostick. joe: i'm joe weisenthal. dollar weakens on the week and bitcoin continues its rally. joe: but the question is "what'd you miss?." caroline: tech playing its role

in keeping the world running in 2020. everything from zoom calls to working at home. a major government hack in agencies around the world, mainly in the united states. also in the virtual world. to all of that, romaine? doinge: the fed will be buybacks. this is following stress tests. looser restrictions. if they want to resume some of those buybacks, it is the time.

joe: let's bring in finale bostick. this is like a partial all clear? >> the fed concerns are still with commercial real estate, there's concerns about trying up in the spending markets as well. there are concerns about the money markets. concerns.still caroline: who does this benefit the most? ?hese latest unveilings there were concerns among

policymakers, leah o'brien art, , they them that capital feel, should be used for lending . of this a lot of concern that lending will tighten considerably for the small and facem cap firms that will a tough time. did we see tightening in a meaningful way? this was not that type of panic that we saw during the financial crisis? that is certainly not the case. you saw the banks really step it up and want to be the good guys. -- about this in --

for a while. how many underserved communities that have problems accessing the ppp problem -- program. that was a big concern for the second part of the crisis. we see more of these issues and more of the moratoriums start to roll off. everyone started to feel a little less friendly. joe: why have all of these banks crashed? early april, middle of april, the never seem to be major fears of a banking him lotion. it quieted down pretty quickly. did people you talk to think,

this was our first really big episode of economic stress and some of those regulations have been in a sense vindicated and appreciated? they do say these stress tests are really good. one banking executive said that they were so effective they believe the banking firms should go through them as well. but also they counted the number of days that they could stay afloat. the idea that april is a big sure that not everyone realizes it's because of the fed. that is a pretty fragile fix and a lot of ways. liquidity issues are a big issue.

also rallying and after hours trading, nike. those shares are up 5% in the most recent order. markets expanding. caroline? caroline: just firing on all cylinders. let's week to our analyst on nike. it's quite amazing. it's noticeable -- it's notable. nike also has that direct relationship with the customer. >> yes, absolutely. they have proven they are the dominant brands. it may be softer than what you would traditionally expects.

off and theiring , looking to get to 60% like it is making progress. joe: to some extent nike is one of the most famous global .etail in the world does it tell us anything about the strength of the global consumer? definitely, nike has about 26% of the global sports industry. health that they have seen is notably in china where the sales are up 24%. for the rest of the globe, we activewear ase

consumers and shoppers continued to have and live healthier lives given the virus? one thing that jumped out at me was the inventory numbers. it seemed that they dealt with that to an extent. yes, i think the inventory problem is solved. we like to see inventory be in line or below sales. we believe that the inventory concern is over. they actually saw 90 basis .oints there's a possible gross margin expansion. youline: what else are looking for on the call?

i'm looking to see how the holiday sales worked. we wonder if there are shipping bottlenecks we need to be concerned about. we would like to hear more about cybers' day and how monday went. really how the holiday sales went. joe: all right. coming up, new details about a suspected russian hack. this is bloomberg.

romaine: all right, welcome back

to "what'd you miss?" for the rest the show we will focus on dislocations and disruptions in the tech world. joh, we have some authentication going, right? joe: that's right. look at the text. romaine: is that fireeye -- joe: you wish they would have had that. take a look. is a security company that has been connected to this massive hack. five days sharing down. many systems. notable that fireeye. punished last week. then they made it clear that they found the hack.

it's not just fire. ubs say everyone is piling in and they need this protection right now. stephen, thank you so much. i think one of the interesting it does not feel like we have a great handle on what has been lost. we know it's big. we know it is at multiple levels of government. but so far we do not know the damage. how concerning is that? that's the scariest part. we are just starting to quantify this. you start to think about the

large national security impact. we see large companies of 10,000 or more, but at least 15,000. we know that they will be looking for ways to has this off, but do we start to see fundamental changes, or is it just the patch and then you move on? daily scanning. we see the removal of this particular software. people are responding. it's very different than in the past. multifactord authentication. this would not have changed. what will continue to do, it will shut the focus to really look at this challenging problem, which is the supply

chain and the vulnerabilities of these partners. caroline: did the u.s. take its ball?f the thatll it be the narrative the u.s. will do it back? >> we saw this in 2017 when there was an attack on a small ukrainian company. damages.$10 billion of this is a different challenge and it needs to be addressed in a different way. i think it will ripple through the much every industry as this technology is the floyd globally. it will just cause people to rethink these relationships.

you assume if you get software from a cyber security company it will be safe and intact. it's extremely difficult to avoid. thathere best practices can be put in place or need to be put in place that can circumvent this? or is it just inherent? where does something need to change? this is signed software from a trusted vendor. who are you doing business with. ?hich systems are touching what access to what data? oftentimes organizations struggle. you just need folks who

understands this exposure, monitoring because it's very dynamic. with the this changed updates. it has to be continuous. caroline: we thank you for your time. expert in all things cyber. it took jpmorgan all of 10 minutes to decide it was going to do it. also provide the new share buyback program of $30 billion. romaine: it's a little less chairmantial, but the

of the board is going to step down. of course, he is the former ceo. they felt that it was not good to have him on the board. he was a huge backer of jamie dimon. leaving december 31. joe: coming up, the cyberpunk slot. being pulled after it was riddled with dogs. players against the developers, next. ♪

♪ caroline: today we are focused on more than just disruptions in tech. global discovered the

hack and there were issues with a pretty big videogame release. or: whether it security videogame, that is the big story out of the game world. the game made by a polish company polled after there were complaints of numerous bugs. sony pulling the game from the playstation tour. i'm sure you are in the chat rooms. romaine: yeah, i am a big halo guy. we saw these in poland, down 12%. down about 13% on the day. jasonoining us with more, covers the game industry. we saw this company plunge more than 40%. what was it about this game that had people so excited?

it was one of the biggest companies in all of poland. >> thanks, joe. with the previous games, the witcher, in 2015 almost came out of nowhere to become this critically acclaimed game. it was widely considered one of the best games of his generation . following that, there was high gamers next game, which okta would at least be on par with which are ii -- witcher iii. this dystopian universe were players could do anything they wanted, this huge fully realized cyberpunk universe. it sounded pretty cool. unfortunately, people were disappointed by the way the game was released. caroline: i want to know how kiana reeves peals -- key and a eanu reeves feels

about this. he has cameos throughout it. worked onf people who the game were aware that it needed more time. it was put out before it was finished. there were a lot of which is. i think the developers recognized they really needed more time, a few more months of deadlines. inspired the fury. and it will take a long time before they will get that again. it seems to be the standard practice that game , forcingsh these out their employees to work seven days a week.

and when they come out, there's something wrong. what about this particular game where everything went wrong? game was rushed. a lot of games have problems. i think what was unique about this game, i think there were a number of factors. the hype. a culture that could be unhealthy for workers. in than the people at the company, the game was so ambitious that there would be a lot of buzz. in your dealing with this open world, all of these interlocking systems and ways you can play. complete this game shooting or driving or sneaking around and that contributes to more bugs because it's more complicated code. joe: has there ever been a

situation that's comparable? >> yet, there have been. there have been a few. i think the most obvious comparison is a game called no man sky, which came out in 2016. very hyped. what happened with that came, the developers stuck with it and they kept updating it and putting resources into it, adding content, pitch it -- patches, and over time it became a beloved game. it was, well, this game is good now. romaine: we will keep an eye on that. keeping an eye on what's going on in the gaming space. joe, i know you are a big gamer. i am checking next week off -- i don't know. it looks like fun. i will spend a week laying this game. -- playing this game. romaine: caroline is a big gamer, aren't you? caroline: always ready for a

dig. i'm pretty sure. sadly not my forte. romaine: joe: bloomberg technology is up next. romaine: are we ever going to get that right? o get that right?

♪ emily: welcome to "bloomberg technology." i am emily chang, in san francisco. coming up in the next hour, what may be the biggest hack on the u.s. and history is still unfolding. even microsoft on the finger types -- the fingertips. brad smith is joining us and what he is calling a