larry ellison it's going to be an incredible combination. and another stock market selloff sentiment sours on a coronavirus resurgence in what could be worth to september and years of a packed show today so let's get started. in a change of heart that maybe happened in record time president donald trump went from banning tick talk from app stores on friday to suddenly approving the oracle walmart deal by saturday yes in just 24 hours after saying that he would not agree to buy down selling 20 percent stake to oracle and wal-mart while the president changed his mind now trump says he has agreed in principle to the sale which will create a new company called tick tock global and the trumpeter ministration well they've postponed any bands and app stores for at least another week. you know we're very close to a great deal with tick tock tick tock joe about 24 hours ago that's all they talked about is tick tock tick tock. we have

a deal worked out i think with wal-mart is going to buy it along with oracle larry ellison it's going to be an incredible combination and i said you know do me a favor could you put up $5000000000.00 into a fund for education so we could educate people as do real history of our country the really. great. turning us now to discuss our boom bust co-host spence juan and christie i christie break this all down for us what changed between friday and saturday. nothing really changed the only thing that changed was that trump ran out of time due to the deadlines that he even south set in place so he announced that this deal was approved in theory in mind and so a lot can still happen because remember last year the trade war a we have an agreement now we don't but a we're really close now but oh no there's one more provision that we want so that kind of back and forth went on and on and blew through every single of deadline

during the trade war so the same thing is happening here if. i was deadline that would be the end of it no more negotiation and no big win for him he might say that if we get a deal a tick tock that's great if we don't that's great too and he might say that in public but he knows that any sort of deal and better than no deal at all because at least then he can spin a deal into a win for him so now he can say that he won because to create about $25000.00 new jobs for america and he also promised to set aside the substantial amount for an education fund 'd and also take the global will be paying more than 5 $1000000000.00 in new tax dollars so nothing really changes at the deadline and all that does is postpone the band out to september 27th or christie you mentioned the whole back and forth comparing it to the. u.s. china trade or are we going to see another 2 years of this. i don't think it will be in 2 years of it but i do think that there will be substantial back in for the night to get all the deals hammered out into pieces because there's still

a lot on the table to negotiate well then as you heard christi say you heard our president mention the statement he made about the $5000000000.00 going into a fund to educate americans about history now. yeah it's an absolutely ridiculous statement look the remember the president originally wanted a substantial amount of money to flow into the u.s. treasury administration lawyers said you can't do that you can't broker a deal between 2 private companies and have them give a basically a finders fee to the government that does it doesn't work that way well now he's kind of double back on this right now saying that he's talked to oracle and he wants 5 $1000000000.00 put into an education fund to educate americans on the real history of the country this if you want to create a fun find create the fund bears nothing to do with technology and has nothing to do with the tech talk deal of larry ellison once the fund the 5000000000 dollar deal but the other thing is this you know christie and i both talked about this last week and we were asked on this show will this deal come together and both of us said we don't see how it wouldn't come together and then it turned around on

friday that wasn't coming together and we're like what happened but it took less than 24 hours were to come together why because ultimately oracle and wal-mart get exactly what they want here they have no right to this company they have no right to take talk it doesn't mean that we're defending by dance or to talk itself but this is not the way that america is supposed to run business and or even have a free market in which government comes in and forces a 20 percent sale of the most valuable social media company right now in the world and you're forcing to sell to other americans and creating jobs all the things the president says are wins here are done by feel it and not through a free market system and that's very troubling so ben are you saying that maybe the united states ultimately is not resolving what they want which is to protect americans data. come on this is not about protecting americans data if you are concerned about protecting americans data you there's no protection being created for how facebook is using data how twitter is using data how google is using data all of them data mining all of us all the time there's no restrictions being

created for that this is being tagged to china as if the chinese having data is somehow a harm to us but mark zuckerberg having all of our data is not a harm to us so it doesn't even make sense from an intellectual perspective let alone from a national security perspective well kristie china is obviously not happy with the deal but earlier on monday they called it reasonable right well then chinese state media affiliated media the global time they tweeted this out based on what i know beijing won't approve current agreement between bike dance tick tocks parent company and oracle wal-mart because you agree meant one in danger of china's national security interests and dignity does that surprise you they're basically saying what the united states has. the other way around surprised yes surprised not really because right here beijing caught a break because now that done i have extended it has more time to continue negotiations and hammer out the finer points and doesn't have to be rushed so now the ball is actually back in their port and beijing insinuating in full advantage of that so it looks like the battle is now over majority ownership which is officially what something deals so there's

a lot of confusion over the ownership structure now trump wants the ownership to be american and not chinese saying that quote china must give up majority control or no deal and this was in response to bite dance training of the terms that allow it to retain 80 percent in tech how global so obviously both cannot be true so at this point and looks like beijing is trying to get some leverage back and this is really important because right now we are seeing a very disturbing trend that every single non-u.s. competitor is getting whacked and targeted so it had acquired way the global leader in 5 g. communications tech talk the most valuable social media app in the world and soon we chat and had the most valuable mobile payment solution way more volume than us apple pay and pay pal so you can't help but wonder are these witch hunts really in the interest of national security or is it trying to destroy competition so that us can continue to enjoy a lot more technological hedge money we have a little bit of time left but i want to get this new quest for the square question

and what does it mean going forward. so i think as people watch the show they need to recognize that whether you are on the trump side and you say hey it's good for america to be able to protect data whether you're on the chinese site you say hey you shouldn't be bowling companies this move by president trump completely resets the limits of government in this country and how it affects small business there is something extremely unique happening here where the president the same we're targeting specific private companies they say it's because they're connected to the chinese government and yet have offered no proof that that is true instead the drug administration says were able to target specific companies there are a lot. in this country that actually prevent that from happening but still 4 courts are not upholding those laws so there is a huge precedent being set for government being able to target individual companies that they don't like and in doing so are actually eliminating competitors for other privately owned companies and that is a huge problem and we know the saga will continue so we'll i'm sure we'll be talking about this further but co-host christi i thank you for breaking this down

for us. on monday microsoft announced a $7500000000.00 deal to purchase videogame holding companies and a max media was any max is the parent company of several game developers including that there's a software x. our king studios and id software the deal will give microsoft ownership of some of gaming biggest franchises including role playing games and the fallout and the elder scrolls series as well as 1st person shooter doom microsoft has been buying up studios for years now to bolster its 1st party offerings by going 2014 the company bought minecraft developer mo yang for $2500000000.00 while analysts believe the acquisition will allow microsoft the company's iconic franchises to x.-box game pass even bringing new releases to the subscription service on day one when microsoft's stock is down monday but that's mostly likely attributed to the overall a sell off that we are seeing on wall street but for more on this and the overall

market let's bring in adam ash c.e.o. of trading adam how big is this deal for microsoft the $7500000000.00 acquisition they've been buying up studios for years now. you know some point 5000000000 dollars deal from microsoft is trying to get 50 dollars worth of road blocks from my kids. it's microsoft they've grown so much this year they finished up today because the market round a little bit so they were down all the and then we had a rally into the close down for microsoft finished up on the news. and they have. launch of one of the new games coming out in the next couple months that you have another competitor is a smart move it allows them to continue to grow but really it's a product of what you're going to expect across all industries right now which is that you know the world's a different place some companies thrive some struggle and if you're thriving company you seize an opportunity to scoop up

a competitor in this environment where there's a lot of uncertainty you're going to do it and if you're the other company sitting there saying you know i don't want to give you all of this we're right now or you have another shutdown has are going to factor us and you have the chance to exit you're going to hit that bottom and that's what happened well there's a lot going on i want to turn to here the u.s. markets were saying another market selloff coming out of 3 straight weeks of losses now the s. and p. and nasdaq all at their lowest since late july we're seeing the biggest dow drops and june what's causing the sell off. i think the better question would be what caused us to go up so much for it you know rally we saw from march was unprecedented i don't think anyone could explain that i spent months just kind of watching like i exited the rally in way too early and stood there in disbelief as we continued to go higher so my best rate in the last couple

months was buying puts and tassel when it hits 430 and then drop to 375 but then after that i was later i'm out again this is a day by day market. i don't think you can make much sense of the down moves because you can't make much sense of what caused the rally other than saying that the fed has propped up the market and if you want to go there and say the fed's front of the market then what could be a little intimidated to traders right now is the fact that the feds but once again they told you everything that you wanted to hear but this time with the rally and so with the fed's power wears off a little bit that could be a longer more bearish sign that you want to be aware ok but regardless of that. regardless of where the economy is where it actually is is there more the fed can do they have more tools that technically that they can use but do people still have trust and confidence in the federal reserve. i don't think the feds let us down there and i don't think it's about that i think they're more concerned about the world around them and how you're now hearing about possible relapses than in other

countries shutting down again and it's like you keep walking up a hill and every time you look at the hill you punch in the stomach and you have to start over eventually you get tired of your logic. not by name or here this is just too much something we see. it's weird to watch football this weekend every stadium was empty this concert remarked was that life is not normal so for me the roommate sense when the market's going down because that's how i feel about the world right now negative you know i want to be optimistic i think everything will be good in one run but for me the market makes sense when it's going down in this environment or could this be a marketer essentially fundamentally indicator of her future predictions we're seeing the current aquinas something we can attribute to the resurgence of cover $1000.00 cases across europe in the u.k. specifically or copa 19 in the fall let's say that we can expect in the united states is that all attributed to this. i don't think so i don't think the market

has responded to specific events like that because if it did then if you look at what happened in the us we should be a lot lower. i think we have a new generation of traders acumen to the market the robin hood generation of people that push stocks up and there's a lot of hype in a mood to start to start. and so i think the biggest thing i could say is not trying to explain why we're going down because people have gotten so used to buying mine by buying every day that there are times refined that tip would be wrong and even in the few short weeks back in march if you bought those if you could wipe down or entire account so historically the market always goes up but there are some painful drop offs along the way and so my best advice all your viewers who are watching would be to say you don't have to be the 1st one to see them are. when we go down a little bit look at how much we've gone out proceed with caution if you have $10000.00 to put all $10000.00 in on this tip start with $2500.00 and work your way

courtroom again i'm a trader not a financial advisor that's logic to say just because we're going down doesn't mean we can't keep going lower if i show you where prices were in march versus where they are now lake and even if that $70.00 right now you know was at 3 in march through that's that's the kind of price we're seeing differentiation so i mean or going from what i mean rather at record highs to record lows the and it's just a volatile market that where we're headed working and continue to head for the next year so. i think we went from record lows to record highs but we're not even close to record lows again i think give you 50 different precise and without even looking like it was a 36 it was a 13 in march and the video was at $200.00 it's crazy now the power was at $100.00 you stocks are still up so much off their low that 50 point drop for some of these

stocks is nothing so that's a thing there's going to be volatility we have so much going on right now we have an election coming up in november we have now a battle over a new supreme court just a meal if you're everything there's so many factors so you wonder how i would bet on is volatility you know the markets will pray and i streeters we like yeah but so i think trying to explain it day by day is a fool's errand it's good to go out there not to i'm just saying in general like it's good to go out there and say what could cause us to go down but we're no man's land i here are down now it's foolish adam matthioli of adam mesh trading thank you so much for being with us today. thanks for having me appreciate time now for a quick break but hang here because when i return weather related to vassar the cross the country are incurring a record breaking price tag making financial havoc on americans already strapped for cash you know a pandemic we'll talk about what this means french rand paul gives us the.

time of the time called her ration to repeat the same mantra sustainability very important celery transition sustainable transport sustainability stay number may not be more equitable and sustainable well. they claim their production is completely harmless. because. it builds on the companies want us to feel good about buying their products while the damage is being done far away and this is something i'll just doesn't want anyone else i'm looking. we didn't even i'm stunned seemed to be best understood so when it.

was abundant make no certainly no borders applying to nationalities. has emerged a little bit surreal we don't look like. pizza guy. judges . commentary prices so what is the system to a lot of times we can do better we should be. everyone is contributing it's your own way but we also know that this crisis will not go on forever the challenges created with the response has been much so many good people are helping us. it makes us feel very proud that we're in it together.

we're segregated in the air by social class lower middle class people also in poverty by 1st name if you're born into a poor family off you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years old if you're born into generational poverty. it's a fight every day so you meet your needs and the needs of your family. bad guys are but it's a survival guide like stay single malt and going to store and simply have the travel all the servants to. be sure it's still there are you going to get a back pack to. play it no good says

a repatriation scheme will get the rest in 7 years. to build the 70 year old guys record. nikola founder trevor melton announced he is voluntarily stepping down as executive chairman while in a company press release milton said nicolai is truly in my blood and always will be on the focus should be on the company and its world changing mission not me so i made the decision the difficult decision to approach the board and volunteer to step aside as executive chairman founding nicola and growing it into a company that will change transportation for the better and help protect our world climate has been an incredible honor nicholas stock plunged 30 percent in pre-market trading is set to open at a 4 month low and this comes just weeks after

a short seller and member of research accused the company of being an ocean of lies essentially a fraud well the electric truck maker also recently made a deal with general motors where g.m. took 11 percent stake in the company the 2 companies plan to build a badger pickup truck a g.m. c.e.o. mary barra signaled the company is standing by its deal. 2020 keep on throwing those punches so far this year the u.s. had $10000000000.00 worth of weather related disasters setting a new record as artie's alex mail of its tells us this has not only hurt the nation physically but also financially. from hurricanes in the game. players and the west coast. when it comes to the us 2020 has been unforgiving beyond the karuna virus in terms of now players which is primarily california oregon more than 30 people have been killed dozens of structures have been destroyed 5000000 acres scorched many are believing climate change were in the

midst of a climate of urgency were in the midst of a climate crisis. we are experiencing weather conditions the likes of which we've never experienced in our lifetime we're experiencing what so many people predicted decades and decades ago but all of that now is reality breaking previous records this year the united states hit its temp $1000000000.00 weather disaster earlier than any other year. aside from the devastating fires this year multiple storms have ripped through the u.s. leading up to half of destruction in their wake 7 of the occurrences happened in the south and southeast 3 of which include attorney tools and outbreak on easter sunday saw 190 tornadoes in the region killing 36 people the storms made 2020 but 6 consecutive year with at least 10 extreme weather events and it's not over yet it's 2021 i think you do the answer not much for the average individual other than

preparing both physically. on your person. and financially being ready can help one way to do that is anticipating an insurance claim in advance people are being told to do the following to ease the process take photos of your house inside and outside and your belongings both before and after a storm or other disaster and create a written record of your valuables having proof can help avoid issues or even denials during the claim process with an insurance company is also going to review your insurance coverage so you know what the insurer expects if you need to file a claim and it also helps you avoid any surprises climbing up the ladder from households to the nation as a whole the weather is also doing a number on the u.s. economy hurricane such as katrina and harvey cost well over $100000000000.00 mark while maria sandy and irma were in the 10s of billions numbers we are likely to see

again this year some estimate that just the wildfires in $2800.00 cost the u.s. over $20000000000.00 looking forward to do not look promising a report commissioned by federal regulators earlier this month concluded that climate change posed a growing threat to the u.s. financial markets as a natural disaster spread so to the cost to the surance industry mortgage markets pension funds and financial institutions add that to the fact that the nationals yannick an atmospheric administration says that we can expect. more disasters this year it's easy to see 2020 isn't done with dishing it out just yet for being bussed. from our we welcome director of corporate communications with the insurance information institute mark friedlander mark thank you for joining us today we just heard what alex reported what kind of increases are we really looking at here. well we knew coming into this hurricane season series it was going to be i don't well

above average sees every meteorologist talk about that every forecaster and we're seeing it come to reality already exhausted the entire list of hurricane names from the national hurricane center now into the greek alphabet which is only happened once before in history in 2005 or on beta already so we clearly are seeing a record setting year in terms of number of storms fortunately we have not seen storms at the level you showed in your chart a few minutes ago of those nasty losses we haven't come to that level yet which is a good thing for you well let's look at the stimulus here what are some of the most significant ways 1000 has also affected your members i mean markets have been affected severely but with many banks choosing to put mortgages on moratorium the house marking is market is actually relatively steady are your members choosing to forego their rates or payments at this time. well insurers took

a lot of important steps to help. consumers help their customers cope with the financial difficulties of covert $1000.00 in the pandemic one of the biggest things once auto insurers gave back $14000000000.00 in premium to auto customers that was bones in cash refunds as well as credits to accounts very substantial and then one of the largest insurers in the u.s. auto insurers is in the process of getting reproductions approved by regulators in each state across the country once again to help their customers cope with the financial difficulties of the pandemic while the core of our thoughts obviously changing the economic landscape right what what are we going to see in the future are our houses now going to be no longer be protected. well 1st of all if you have on market you have to have homeowners coverage and if you live in a hurricane prone state which are all the coastal states the atlantic coast and

gulf coast states you have to have a windstorm coverage if you have a mortgage and we see roughly 90 percent of all homeowners across the u.s. have insurance coverage the 9 percent that don't they have paid off their mortgage most likely and it's very risky though even if you put up your mortgage do you want to be unprotected and actually really strongly suggest every homeowner whether it's required or go out to have homeowner's coverage so you are financially protected because the loss could just be devastating you could have your entire house and if you don't am your shirts to help rebuild that it's going to be a lifetime in many are saying markey must albus the flood insurance rate map where i home to actually going to be rated depending on their flood or if i want to see changes in the set all. yet females actually go through a whole process stoutly rating but one of the. things that we stress is don't just

rely on what the sea maps say we recommend every homeowner across the country gets flood insurance and here's why 90 percent of natural disasters in the us involve flooding we saw with the hurricane last week hurricane sally while there was significant flooding right along the coast in both foreign alabama you go inland and there were significant flash flooding in england counties as well and according to our data the take up rate of flood insurance in those in the counties only about one percent right maybe 99 percent of the they're not partner unless they are not practical specially with all this mark friedlander thank you so much for being with us today with a pleasure having you. that's it for this time but here are the numbers at the close.

on this edition of the program we discussed the passing of the 2 towering figures supreme court justice ruth bader ginsburg and america's preeminent russian expert steven cohen both will be remembered for good reasons for their legacies a sure. cast calendar is downright alfonzo a long day has died there's cherish and pain change guard survival. his 1st words were allow us near a challenging post you've got 2 years to live. i have no doubt that what happened scriven.

let's concentrate market is a $1000000000.00. industry these companies have a huge financial motivation to saudi's products there are numerous showing that doctors were keen to chest x. ray concentrate straight insights of its own that patients won't use them don't use the wrong stoplight. why they would keep me from secure those whose day. people still die i don't know which question or so i tried being hard to leave so many have. seemed wrong when all the rules just don't call. me. yet to stamp out these days he comes to advocate and engagement equals betrayal.

when so many find themselves worlds apart we choose to look for common ground. the e.u. fails to agree on sanctions against dozens of fellow russian officials over last month's election despite a plea for action from the country's opposition leader. and personal data of thousands of police officers asleep in belarus in an online campaign the opposition leader had learned to come says she supports the unrest shows no sign of easing 6 weeks on from the disputed presidential vote. also this hour european countries introduced new restrictions amid a surgeon coronavirus cases with both france and spain seeing record numbers over the weekend. and thousands of files are leaked implicating some of the world's largest banks in vast money laundering schemes and spending 2 decades.