i'm going to bore in washington coming up the tick tock saga has seen yet another shock twist as oracle has made an agreement with white dancers beating out the favorite tech giant microsoft straight ahead we dive into the potential deal and what it means for the popular video sharing app plus after a hiatus astra zeneca and oxford university have resumed trials for their covert 1000 vaccine later we break down the race for a krone virus here and where infection numbers stand globally and while many sectors of the economy continue to struggle in the wake of coppa 19 markets are surging on the back to some major acquisitions later we'll take a look at these moves and what and the state of equities with facts show today so let's dive right in. and we lead the program with a major development in this saga surrounding the most popular social media app in the world tick tock as monday bite dance the parent company of tic tac has announced that it reached an agreement with oracle now according to by dance the company has submitted a proposal to the u.s. treasury department over the weekend th

will not change that and really oracle just gets to own now a piece of a company that. candidly they never really had a right to own in the 1st place but because of this 4 cell they're going to have a piece of it and basically going to be able to collect money as long as this is a popular app essential now kristie in the end doesn't this whole thing start to look like as we were talking about here president trump painted tick-tock as a threat to national security that he pushed the company into the hands of a company that actually has ties to its ministration and in the end doesn't really make the technology any more secure than it was a month ago does it. you know there was never really any proof to show that tick tock was actually a national security threat to begin with national kick security is just a term against langat power to take and of course and in this case it was to take the most that the fastest growing and most valuable tech i.p.o. currently on the market a platform that could one day rival facebook but to the 2nd part of your question now in the end this

allow the social media op tic toc to keep operating in the us he said an agreement with the tech firm oracle and supermarket chain wal-mart to take over the american operations of the chinese owned would get his blessing the white house had applied pressure on the company over what it called national security concerns let's bring in larry maggette he's a tech analyst and the c.e.o. of comic safety dot com larry good to have you back on the program again so trump now says look if you he will approve this tick tock oracle deal after threatening to ban the chinese app in the u.s. so what does this all mean then for tick tocks u.s. operations well it means presumably if they mean that he stays with shane gets on it could be an on again off again that oracle would run at least that data and the u.s. operations in oracle of course is very good when it comes to online security they don't have any experience with consumer products but of course wal-mart does so perhaps a oracle wal-mart combination might make some sense but remember this is a product that's years primarily by young people teenagers

oracle's bid for tiktok.ll discuss the winning bid u.s.he video app's operations and what the structure of the deal or arrangement would look like if approved by china in the u.s.. -- and the u.s. we will hear from the u.s. open men's champion dominic thiem. we discussed his first title and what it means for the future of his career. vaccine.for a oxford resumes late stage trials for an astrazeneca vaccine. doctor discuss with a for the johns hopkins international vaccine access center, amanda. amanda: vonnie, we do have markets moving higher today, at least when it comes to equities. possibly enthusiasm about a vaccine and also dealmaking today may be driving investors back into the plus side of the column. the broad s&p 500 showing every group moving higher, led by real estate today. energy also moving higher despite the fact that we have the price of oil week again today. a grim outlook on demand from opec and a reminder that is covid-19 picks up globally, we see demand expectations remaining weak. names l

oracle needs to do something. larry ellison has done 9% per year shareholder return, akin to what cisco has done. in no way is see competing on a shareholder basis with giants including microsoft. it would be something for oracle to get this done just to so some activity in the cloud and technology area. jonathan: you mentioned larry ellison, let's talk about that. u.s. has changed with this administration. your relationship between the president could be the deciding factor with whether this deal gets done. that is not my personal view come i think that is the view of a lot of people and i think it is the argument they will make this morning. is oracle close enough to the ministration to make this happen -- is oracle close enough to the administration to make this happen? tom: i don't think i agree with that. art navarro's can i think where are the auger rhythms. -- that nothing in the suggests the algorithms are coming to the u.s.. jonathan: peter navarro is not going to be the deciding factor. executive order,

is up big we don't really know what oracle is saying. so, i don't know, david. >> they have a web hosting deal, jim. sd >> yeah. they've got zoom and that and walmart. walmart's got a good deal and mcmillan is very excited about it i don't know i just think the president is really excited about it. >> before we wrap up our opening block here, jim. let's go back to the markets themselves i mean, we talked as well about the banks. are you concerned at all about these latest issues? do you seem at the open to not be as concerned perhaps, at least for u.s. banks >> boich deutsche bank is a mes. well, that was -- deutsche bank to link jpmorgan with deutsche bank without jpmorgan coming out and saying something alo look at that list if i were jpmorgan, i would come out this morning and say, listen the allegations we're going to prove otherwise. but i'm not getting that and, you know, carl, i know that you get a lock down in europe and you get a problem with some banks and that causes us to go down big, carl i don't know doesn't seem right to m

it will be interesting to see if oracle can do something. but, david, oracle is growing. the low single digit this would accelerate it and rather than just continually buy back stock, this is growth so, i think it's great for oracle if they would tell us what's happening >> yeah. agreed you know, we have a lot of questions we're hoping to get them clarified and really understand what it means by technology partner the u.s. seems to have changed its willingness to allow the algorithm to stay there and continue to power it, jim. that's what i would just come back to for now and this conversation >> many people in the administration did not want that to happen. >> previously, i thought the whole idea is that you didn't want this algorithm involved because you don't trust the chinese. >> david, there are people who even hate, hate microsoft who are so thrilled because they'll get the algorithm. this is just a complete conundr conundrum. explain why you're willing to do this because it doesn't make any sense. it doesn't unless i don't have the story right, which i have to tell

as you know, oracle's stock is up right now. why is the stock up of the acquirer if it's not buying something, usually stock goes down when that happens. well, because it's not spending any money. it's not buying it. at least the market believes that. so the white house is still debating it. from what i understand, mnuchin, secretary mnuchin, who is on cfius, the council of foreign investment in the u.s. which must approve this deal, is inclined to approve it. just so you hear what i'm saying, inclined. he believes it's not a political battle that's worth fighting in this environment when you have an election coming up. obviously the people that watch tiktok, use it often, do not vote. they are people like my 12-year-old niece. but they have parents who vote. so there's a little bit of -- liz: they may, charlie, can i just say, there is an 18 to 25-year-old base who uses this in a very heavy way. they have become the new voting bloc if they are unhappy. charlie: my producer did a great story on that demographic and how it uses t

giving oracle the upper hand.e on softbank this after it agreed to sell arm to nvidia for $40 billion. samsung is on watch. on a local media report that it has clinched a 1,000,000,000,001 order for qualcomm's flagship chip. makers, wees to chip had credit suisse saying asian chip stocks are where it is at. . when it comes to the u.s. in the chip industry, burn strain -- bernstein is warning valuations are looking to extend, doing part to the industry hoarding we see in china. on that front, flipping the board, we do have stricter curbs being imposed on huawei from september 15, which will release all access to partners by tsmc while we have suppliers like i makes an samsung looking to other buyers for orders. haidi: all right. investors keeping an eye on the busy ego week ahead. we have a big china data dump to rate decisions in the u.s., to japan and from indonesia. joining us to discuss is kpmg, constance hunter. i will start on china. we are expecting domestic activity. retail sales expected to climb out of co

oracle sources are telling me that oracle will hold off u.s.the chinese communist party. once the deal is complete it will be listed on the american stock exchange within a year and katherine, my sources say that that ownership by the chinese will go down even further after an ipo into the 30% range. what's your take on this? do you think this goes through? will this fly? >> i think it's -- in essence, i think it's a good deal, maria, and if in fact they have bytedance's ownership collapses, that would be the best news out of all of this. oracle has trained amazon, microsoft and google substantially so it's good for them, also good for walmart which gets to tap this massive amount of young people, 100 million users of tiktok, so good for both u.s. companies. my concerns lie specifically with the ongoing interactions which would have to occur in operations between the u.s. component and the chinese component, which doesn't -- can't avoid pressure, ongoing pressure from the chinese government. i think the national security risk at least in the me

oracle shares up 5% on the news. we'll have all of this back over to you >>> all those big deals on wall street helping the comeback rally in stocks. after two down weeks in a row. we haven't seen that in a long time jim paulson joins us now is your time to buy the dip. welcome. good to see you. you see the marriage between wall street and main street looks as strong as ever today. i say what have you been smoking? i'm telling you, in my little town in new jersey, you cannot walk the streets of that town and say that small businesses are in any sense as healthy as big corporations >> i tell you, what this country experienced was a complete collapse of the economy on main street in a matter of a month or two. that's what happened on wall street with the biggest collapse, biggest, quickest bear market to drop 30, 40% then what they both experienced is a huge bounce record setting bounce. that includes not only what's happened in the stock market but also includes a record setting bounce in main street. if you look at r

this saga in the fight for tick tock continues as china claims it will need to have a say in the oracle deal straight ahead we dive into the ongoing fight for the world's hottest social media ad and another week another round of u.s. jobless claims amid the coven 1000 pandemic later on we break down these numbers and the state of u.s. markets with a packed show today so let's dive right in. and it's a strange concept to think about but within the next 24 to 36 hours president donald trump will rule on whether social media company tick tock will be allowed to continue operating here in the united states in a move that is unprecedented president trump will decide whether or not to allow take back to deal with oracle to move forward details of the agreement would give oracle a 20 percent ownership stake in tic-tac and we're now learning would give wal-mart c.e.o. a seat on tick tocks board now the deal would mean that chinese company by dance will continue to own the majority stake in tic-tac something president trump says he does not like. we're looking into that from the standpoint of by

to move forward details of the agreement would give oracle a 20 percent ownership stake in tic-tac and we're now learning would give wal-mart's c.e.o. a seat on tic-tacs board now the deal would mean that chinese company by dance will continue to own the majority stake in tic-tac something president trump says he does not like we're looking into that from the standpoint of buy dance we don't like that i've been just conceptually i can tell you i don't like that. that has not been told to me yet that has been reported but it hasn't been told to me it could be very accurate reporting for a change so if that's the case i'm not going to be happy with the only this is china which i think it probably is yeah the chinese foreign ministry also responded to the latest reports thursday continued to label the situation as unfair. so we urge the u.s. to respect the principles of market economy and fair competition abide by international economic and trade rules stop politicising normal economic and trade cooperation we can provide an open fair and nondiscriminatory business environment for foreign

got it julia thank you very much dan oracle over 4% your take >> yeah it's a joke. kind of the art of the steal when you think about what is going on what the trump administration tried to make happen here they're basically moving tik tok's cloud provider from google over to oracle and his big donor gets a big customer. they're less than 5% of the public cloud in the u.s. it's google, microsoft and aws that own the market here to me this is a cozy little deal it doesn't set out to accomplish what it set to accomplish it is force transfer from one u.s. company to another and i bet they're happy with this result. >> and brian be i'd interject quickly in terms of oracle and dan loves to make fun of me. rightly so, most times, we had an interesting conversation september 11th about oracle i said it's going to have trouble at $60 which was high in july 2019 and find the stock below 60 that traded north or four times more normal volume today. if you take oracle you're looking for pull back you seen before or looking to buy on a break out above 62 but are in no-man's line

oracle is in the leading position but a potential deal still under review. oracle shares did rise.almart could still be a part of this. sarah: there are reports that walmart could still be part of this through the e-commerce division. if you look at shares, the reaction, we did see oracle shares spike the most. however, we did see microsoft and walmart shares in the green as well. if you look at what analysts are saying about what is going on with oracle and this tiktok bid. first of all, the structure is still evolving. still unclear. it is going to be more of a corporate restructuring than a sale. reactionssome mixed when you look at what city wrotets are saying, they that they could not find a sound likely tothat it is change the competitiveness of oracle in cloud. some look at this as a positive and that it is another potential diversified revenue stream. emily: thank you so much for that update. we will talk a little bit more about this tiktok situation. oracle moving into the lead position. steven mnuchin saying the federal government will now undertake a two-track national s

will, investors are buying oracle, modest selling, investors are buying oracle, modest selling and microsoft, i got that right. they are buying nvidia which is paying $40 billion to softbank for the arm holding, here's what we know it helps nvidia become a major player in advanced computing from the cloud and nvidia ceo the stock is up $31 a share, as per the election campaign, the contrast, the president took his message directly to live audience in western states and invited up a crowd in nevada, joe biden stayed home. after the ambush of two police officers in l.a. biden issued a tweet condemning violence, trump called for the death penalty football, tom brady lost but football is back and despite the absence of crowd, the gate on time played well on tvp fight shots of the game piped in crowd noise, it worked for me, social justice activism was hardly apparent during the game itself but colin kaepernick did have something to say. you will find out what he had to say. we have a new shopping holiday, trump goes to california, bloomberg spends 100 million in florida just in florida and josie

this is how oracle can say americans will have majority control. look at the board. four out of five members will be american the final member will be the founder of bytedance, who is chinese. we look at the vc money. 40% of bytedance is owned by american investors if bytedance owns 80% of tiktok global plus, the 20% from walmart brings american ownership to over 50%. that's why oracle is claiming now that the new tiktok global will be majority owned by americans. oracle and walmart don't see bytedance having a direct stake but the individual share holders having a stake bytedance views itself as having a direct state in tiktok global and doesn't separate itself. that's why it is saying it will own 80% stake in tiktok global and has said it will maintain control of the coral go rhythm and will not transfer any of that activity to oracle. when oracle and president trump say they will have total control, that's not true one member will be on the board and bytedance will have some stake in walmart as well this is where we stand right now. >> that was arjun speaking on t

shares of oracle better than 8% on this win. oracle gets tiktok.ia acquiring arm holdings for $40 billion, makes chip and cell phones. checking shares of nvidia better than 5%. gilead sciences acquiring med kicks for $21 billion, makes a key drug used to make breast cancer. take a look at the stocks. imuno medic is up as you see there 16%, gilead is down a fraction. trading barbs, president trump in nevada slamming joe biden's voting record and mental readiness during his first indoor rally in months. take a watch. >> this man is totally unfit to be president, up here, he's totally unfit. jim-- joe is not qualified for e position. maria: the rally last night drawing has critic. president trump toured california's wild fire damage, this morning he's going there and biden talking climate change in delaware. two los angeles county sheriffs deputies are expected to survive this morning after being shot multiple times in an ambush on saturday night. one hundred thousand dollar rewarded is being offered on the shooter seen here in surveillance video open

walmart and oracle oracle is great but it doesn't have consumer experience, whatsoever it is hosting the cloud. walmart does not have media experience at all. it is a great commerce company, and the other idea is moving the head quarters to texas to me a media company should be in hollywood the whole thing is just a ten headed monster here that is hard to understand and hard to understand how that is better for consumers or how that protects them more >>. >> a shell game of details to me, kara on this issue of total control, people are conflating money and votes. if u.s. interest has 40% of bitedance and 20% of tiktok, that is not a majority or control of anything. >> it doesn't unless there is a special board that gets to overrule bitedance it doesn't make any sense to me at all and they have to get china's approval as well they said they would do one thing and it is not that and it is creating a more porus situation. it feels so back scratchy. you add on this $5 billion education fund, linked to the idea of what american education should be, part of a political ploy, i just it is j

so oracle is more than a partner? minority stake presumably they will benefit financially. i don't know how or whether this will solve all the questions around tiktok's algorithms do we know those details yet >> we don't know those details yet. i keep thinking of oracle as a babysitter here. this is the u.s. babysitter for bytedance. i think all of this will come down to the housing of data, the security of data and privacy how can oracle use its infrastructure in the u.s., its infrastructure in a u.s.-based company to make sure our american user data is safer than what we had all sort of feared that it would be in the hands of a chinese company. >> i like the babysitter analogy, but again, you could also argue, well, a babysitter doesn't do much. you make sure the kids are alive, but on top of that -- >> it depends on the age of the kid. >> exactly the parents are still the parents. so here is a line from derek s kri cissors at aei he said, let's make sure we focus on tiktok's importance with americans that hasn't re

as jewel yay mentioned does the president's tie to oracle influence this at all? question twhaun will be discussed in the coming weeks a lot of scrutiny still. this deal in the early hours, i wonder if we will hear from people who have hosted tiktok data those are interesting questions. all the microsoft statement, over the weekend i thought this was interesting. microsoft said we would have made significant changes to make sure it met the highest standards for security, privacy, safety, and combatting disinformation the former facebook chief security officer he has lots of takes on security when it comes to these political issues remember, guys, this was not supposed to be a technology partner deal this was supposed to be a outright deal. how does the government trust that t will solve all of the problems of computer and disinformation there is still so much to unpact the unpack there and oracle still has to come out and prove they can do those things. >> that's a good point we have a lot of questions here. i come back to kevin mayer, he took over as tiktok ceo.

citizen so the issue is will oracle make sure that the data doesn't get into the chinese hands and if that's the deal the china might make some of the money but not have access to the data then that could certainly address u.s. security concerns larry let me just pick up on a point you made earlier because many observers say look this all recording is just terrible i mean oracle as you say isn't a consumer facing business that deals in software for database management it certainly has no experience in social media platforms so where is the synergy here that i think the synergy is number one the fact that the c.e.o. of the founder of oracle larry ellison and trump are buddies joe ellison has raised money for trump as the c.e.o. of the company but he there's a relationship there that's a big part of it my pinion and the only other synergy is that oracle knows how to run data centers and that is one important aspect of it frankly i think microsoft would have made more sense because microsoft does have consumer products and also knows how to run data centers but for whatever reason the mi

oracle is currently suspended. hopefully shelly will come back and give us some insight once we get the news and get more details. for now, to our very much. let's carry on the conversation and look at this for me series of different angles. join us with the chinese reaction, william writes. he served as an undersecretary of commerce during the clinton administration. is it possible, william, to satisfy both beijing and washington with this transaction. it all seems to me to come down to the algorithm, the nuts and bolts of what makes tictoc work --tiktok what makestiktok work. the chinese says you cannot have it in the u.s. says we need to have it to make that for security work. can you satisfy both parties? william: i think it will be difficult for the reason you said. the way the u.s. has defined the issue is a little bit different. for them, it is a question of access.government 50 the medassets government can be assured the data is not going to fall into chinese hands, then i think there is a process that pros

companies oracle and wal-mart he claims will together own a combined 50 percent plus of ticket now we don't know that that's true that's just what he's saying but he's saying those to us investors which calling these guys investors is ridiculous right because it does best it's almost like highway robbery or like bandits that are jumping into this forced to sell of to talk. but essentially that's where we are now so wal-mart not to be outdone by anybody else has decided no matter what they're going to force their way into this deal was seems like if nothing else that they might be a situation where they are investing in it they're putting in money and they're just going to collect the benefits because it doesn't appear they're getting into trouble and to that point you know picked up is not being sold to an american company at least not in a majority stake as we just mentioned but how does the trump administration make that work kristie when the president has said repeatedly it's a deal breaker if it isn't sold to an american company. well they're trying to find a compromise and i thin

at oracle, 11:00 a.m. on wall street and "squawk alley" is live ♪ >> good morning, carl has the morning off. we want to focus on the state of mna in tech. there has been swings and others that were formally the prey have skyrocketed to valuation that's now give them currency to join the hunters. between tiktoks impending sale, we're seeing now in the second half of the year there is plenty of action still to come. listen to what bob peck told us yesterday on that front. >> if you go back to march, it was about two billion. so really it ground to a halt. you saw in june, and it has been a tale of two cities a big acceleration and 3 q over 2q so you have seen a ramping here. people are getting more of a feel on valuation, liquidity concerns, their portfolios, s a strategic rationale and more mna continuing to take place through the rest of the year >> tiktok is the most talked about target president trump saying he will not extend the deadline. oracle is on the hunt to buy it, they didn't talk about it at al

. >> we have new bids on oracle u.s. operations which faces a two-track national security review and will need the blessing of president trump. japan's next prime minister prepares his cabinet picks but can he avoid the curse of rolling door leaders? and the s.e.c. is examining electric truck maker nikola over a short seller's allegations of fraud. >> our u.s. futures are coming online. flat at the moment after u.s. stocks rose in the regular session. stocks rebounded from blast -- last week's selloff with the likes of high dimension, oracle, tiktok. now, the dow ended at the highest level in more than a week. the s&p 500 had every sector in green and was led by real estate and tech. take a look at what oil is doing at the moment because it's gaining ground and it's above the $37 a barrel level. this after feeling the pressure in the new york session. opec downgrading its outlook for the global oil market and cut its global oil demand forecast for each quarter to the end of 2021. this ahead of that meeting of ministers t

oracle is taking several steps. today, including full access to the source code, full access to all the updates that they make to the software, they are talking about having an independent board, having a third-party be able to audit whether or not the the is compliant with administration's concerns. all kinds of precautions. also, a promise of creating 25,000 jobs, from content moderation to high-level engineering at tiktok in the u.s.. bending over backwards to get the deal done. on the other hand, you have, as you noted in your intro, trump talking to reporters and saying to them when he was asked about majority ownership of bytedance, the beijing-based ice dance will still own a majority of tiktok in the u.s.. trump's response to that is, i gott like hit, i've concerns. remember, bytedance will still have access to their rhythms that make the app so addictive among so many users. so those are couple of the sticking points right now for this deal. also, you have tension within the administration. you have cheerle

oracle is taking a significant minority stake becoming the company's cloud provider oracle would takesues that have raised concerns for the government as the company will be run entirely out of the u.s this will be part of the restructuring that bytedance has been pursuing to comply with sifius long before the president got involved and set a deadline for the sale secretary mnuchin clarified that it's september 20th. mnuchin clarifying that the proposal was received by oracle. he said the administration will review this proposal for tiktok this week and will have technical discussions with oracle over the next few days. i'm told that one reason that oracle is securing this deal is in part because of close ties between the company and the administration safra catz has donated over $130,000 to the trump campaign and other republican candidates. they continue to have an interest in the tiktok investment with bytedance so we'll have to see where walmart can fit in here. andrew >> okay. julia, thank you for that report we've been reminding folks all day, all show that we're now just 50 day

if oracle has full access to the underlying code, but those are still key questions. >> yeah.o is an expert on this to weigh in on the tiktok talks. let's bring in a security adviser to zoom and a noformer officer for zoom we heard the president say it needs to be a 100% deal. based on what you know, does it meet muster? >> it's hard to tell nobody is talking about what is important. who are the people that everyday are coming into work and actually operating the service that americans will be using on the back end when they open up that tiktok app? there's a lot of discussion about hosting of data. there's a lot of discussion in the board of directors i don't find the board of directors thing strange. that's a structure used by defense contractors. you may have bae systems sells to the u.s. government the u.s. government has handled that stuff in the past what's new in this deal and not being discussed is who are the people running the technology? my understanding of tiktok to this point is a vast majority of people are bytedance employees who work from beijing and other chin

oracle, what are they going to get?oing to be a lot of trouble for them they have to prove that they can keep data secure, that they can keep their privacy controls in there, and all the while, and this is just looking more and more like a mess the further they go. nothing was certainly. i want to highlight the beijing side of things julia, before we let you go -- you're saying that less than a 20% stake. is that for either oracle or microsoft? or even combined. >> i'm not clear on how much less i am told the walmart percentage is being worked out. it will be interesting if walmart had a bigger piece that oracle and oracle has the strategic interest as well, but it will be interesting to see the kind of role that walmart could play effectively as a partner, especially with a board seat, in trying to make sure they use tiktok as a tool for e-commerce. i think we should hear more definitively what this looks soon so let's move on, talk about the ipo of the week, snowflake the shares are falling yet the price at $20 a shar

oracle is fading back down.hing what is happening with the tech heavy nasdaq, off lows of the session, but still over performing. michael, as now is market strategist, to give us his take on all of this. we have had a day where we have digested the fed, we are trying to figure out which way the market is going. we get this selloff, which has people scratching their heads. give us a sense of where we are right now. michael: thank you for having me on. i love both of you guys so much. everybody wants broad participation in the market. everybody says, i do not want just tech to lead, i want everybody else involved. then it happens and we end up talking with our clients about what is wrong, what is going on? i do not necessarily view a text selloff as a negative. i think it can be seen as a healthy rotation, for one reason. if you look at the equal weight s&p 500, it has had a good september. it is only down .5%. and that leads me to believe it is one of these moves out of tech and into other names. alix: good point

i think it is a good move for oracle.ader issue i have is the precedent that this could set for geopolitical dimensions to the internet. there is a lot of risk in that. the greater concern for me is what happens if other countries start to look at the u.s.'s actions in this space and try to replicate that for businesses in their countries. this is an unsustainable approach to having open internet. when you have silos where not only data is stored in the region, but also ownership, operational control within that specific region. that would be a nightmare for those platforms. one of the powerful things about the internet is that a company could do business anyway. while there are plenty of cases where that is not true, the issue is that the u.s. is may be setting up a ater internet standard and we are definitely easing up on that -- a better internet standard and we are definitely easing up on that. softwareternet companies have historically relied on the huge sales conferences to drive sales of software throughout the yea

we will bring you the latest and how it affects any deal with oracle.s is anxious over the big apple's future. letters leaders sent a to mayor de blasio asking him to take more action to halt the city's decline. one executive behind the letter, barry gosin, joins us. credit is starting to flow to smaller companies, it seems. supply is boost trickling down, we will have details. it is negative sentiment for the markets today. we are on a quadruple witching day. volume, may be less volatility than in other months, but we can certainly blame some of that on that. the s&p 500, financials and health care are holding up, but otherwise you are seeing negativity. since it stock split, so when interesting move out of those big names. still holding at high levels. we are watching the price of crude oil, still weak for many north american producers, but above $40 on some optimism on the global growth outlook, despite fears of a resurgence in the pandemic. the 10-year yield holding in their. there. a story that speaks to what a lot of people are talking about, the

to win this contract. >> i would say oracle is a feisty competitor. never under estimate larry elerson if he wants to get into a market itstarted with zoom is a customer this year that was a big deal. it was their first highly relevant actionable customer win that stood out to us we think they are compoundsing gains if they add tiktok >> this is a company that spent $67 billion on share buy backs and doesn't have much to show for it whatever they pay for this could unlock a lot more value. does it say something about the rest of the companies, the oracles of the world out there that investors are looking for growth >> that's a really salient point. we look at not only what they spent on buy backs and what that has done for the share price but their last major acquisition in the cloud space. when oracle is looking for opportunities to change the nar ti -- narrative, it's looking at this rather than large scale mna suggests the valuation environment may not be one that supports that type of path right now. >> you say this may be the defining social medi

oracle is bidding for tiktok's u.s.ration but it will need the green light from a national security review will go all the way the president of the united states. scarlet fu joins us for more. thelet: steven mnuchin says government will this week conduct the national security review of oracle's bid for tiktok. it is important to remember oracle's bid would not be an outright acquisition. instead it would be more of a partnership. according to different reports, oracle would take a stake in a newly formed u.s. business while housing tiktok's data its cloud servers. is a difference from what microsoft had been bidding. microsoft would've move the entire business and related data into u.s. hands and let the u.s. government review any further changes. oracle's bid is a lot more palatable to beijing which impose new rules to limit its technology exports, and a corporate partnership does not meet the white house standards of national security concerns. if the white house does sign off on oracle's bid there will be questions o

this is bloomberg. ♪ oracle's tiktok bid still hangs in the balance president trump saying he is notappy with what he has learned so far about the terms of the deal. be getting access to tiktok's source code, but that has not alleviated the admin's's concerns. this is a pretty big deal if it turns out the source code would .e included >> these are basically two -- details people have been scratching their heads over the what is days, which is oracle's role in all of this? finally, we got some details as to what all of that means, at its basically saying that bytedance continues to have majority ownership over tiktok, but it's partnership with oracle allows them to have access to the code and changes and updates to basically see all the data going back and forth around tiktok. trump says hent does not conceptually like the idea of bytedance having in its oh -- of bytedance having a majority stake. what are some of the changes could be made and what are some of the details that perhaps the administration does not like? >> the administration last month came out and said, we want a full

citizen so the issue is will oracle make sure that the data doesn't get into the chinese hands and if that's the deal the china might make some of the money but not have access to the data and that could certainly address u.s. security concerns. colombia's president even decay wants his venezuelan counterpart to be prosecuted as a war criminal the colombian leader made the plead your ng a visit by the u.s. secretary of state mike pompei oh venezuelan president nicolas maduro is accused of warmongering in the reports the u.s. secretary of state might bomb pale came to south america to strengthen an 18 month campaign of economic sanctions and diplomatic pressure directed at the president of venezuela nicolas maduro to keep. the. peace. he received firm backing in colombia the final leg of his 4 nation tour from president of. the colombian leader highlighted the report released this week by united nations mission on venezuela alleging unlawful executions in force disappearances arbitrary detentions and torture. using international justice we should go ahead and as i said many years ago d

>> reporter: with oracle taking over its american operations to safeguard users' data, oracle, whoseman held a fundraiser earlier this year for president trump, announcing it will operate tiktok systems in the oracle cloud. a major step following concern about user data being shared with the chinese government. >> it will have nothing to do with china. it'll be totally secure. >> reporter: but some experts are still concerned. >> not clear how american information is protected. it's not clear how they couldn't just do this by going public and becoming an american company. >> tom costello reporting there. >>> meanwhile, the use of the messaging app wechat, you can also keep doing so for now. this is after a judge temporarily blocked the ban set to take effect last night. the original ban involved tiktok and wechat. but ticktock ban was halted with the tentative deal made with oracle and walmart. wechat argued that the service is a life line to family and friends and others in china. they say that the president's order would've restricted the first amendment right for free speech. the

alarm again is a tank honest he says the deal is interesting because it combines oracle and wal-mart's different strengths well it means presumably if they mean that he stays with saying it's on an on again off again that oracle would run at least the data aspect of the us operations in oracle of course is very good when it comes to online security they don't have any experience with consumer products but of course wal-mart does so perhaps a oracle wal-mart combination might make some sense but remember this is a product that's years primarily by young people teenagers and very young adults so having a enterprise business related company running it could be problematic if oracle were doing it all by itself i think it's mostly political although if i were trump i'd be careful about alienating so many young people who use a kick cut many of them are voters but having said that i think it's partially its relationship with china and partially in the fact that it is at least the erotically corsa bill for a bike and the company that owns the cock have access to a certain amount of data from

to be ahink it needs majority ownership in terms of oracle and walmart -- oracle, they are winners.hey come out smelling like roses, and this could have a ripple effect for oracle in the withay, since they compete microsoft and others. for tiktok and bytedance, especially ones china changes the export roles with the algorithm no longer in play, that is going to be at the linchpin of this argument in terms of how they access the source code and that is something the white house is talking about. emily: one of the chances china says, we do not care. why does tencent need to have operations in the united states? there are plenty of giant, incredibly successful companies that do not operate in the united states. dan: there is definitely a chance. operations, tiktok let's call it 30 billion, depending on what path that takes. i think that is the issue that it goes up in smoke. as much as there is a who win and who comes out better, it does come down to if those u.s. operations get shut for tiktok, it could be a huge gut punch to bytedance. and it would be a wrapping up of tensions. be on

if oracle and walmart and the others involved agree to that price tag, that means oracle and walmart would be investing about $12 billion, oracle taking a 12.5% stake and walmart taking a 7.5% stake for a total of 20%. one of the bigger concerns was that means that bytedance has 80%. if you do the math and look at the current owners of bytedance, you have american ownership, including sequoia and others. the map goes 53% of bytedance, of tiktok, i should say, would be american ownership. according to the statements, four out of five board seats would be american, including the ceo of walmart. but again, it is not done yet. we have to wait to see what the chinese government does and whether this stay of execution for a week by the commerce department actually leads to a deal, and if tiktok global can operate in the united states. haslinda: steve, separately on chinese apps getting some reprieve in the u.s.. stephen: it is a separate deal, but also on national security grounds, and that is wechat, tencent's operations there. it is not as large in the united states as tiktok, which has

with kirk who covers oracle.lled them solid results key questions on the call, qq guidance which we just got more kpcompetitive position in h growth market. of course, another big question is oracle's interest in tiktok u.s. operations. kirk has previously written about that says it could make sense if oracle sees them as a partner. infrastructure businesses are also growing rapidly as revenue from zoom more than doubled from q 4 last year to this year i have a high level of confidence that our revenue will accelerate as we move on past covid-19 she says eps growing between 10-14% revenue growing between 1-3% she says the company will make no comments about press reports about tiktok if you're waiting for news about that, doesn't sound like we're going to get it on the call. >> dan, what's your take on the quarter? >> good quarter. that cloud license beat was big. the problem with the company is there's knob revenue growth. wh when you look at salesforce and the stock rallied 24% the next day, you're not going to

oracle now finding another partner. walmart was on the back drop initially and seemingly switching to oracle that would suggest the retail giant was on the back of the scenes looking at the microsoft deal saying it was more disappointing than walmart there had been last minute actions trying to get the retail play into the game i guess we know what we'd want to do in the platform against tiktok >> i'm curious, i know you've been pouring through the details for weeks now. how would walmart work in a partnership with oracle versus microsoft. do you have any insight to how that relationship might work >> you've got a technology player and retail that wants to become a bit more like amazon. keep in mind, this is not a retail player stuck with bricks and mortar it has been very aggressive player in getting online which helped it do very well through covid-19 it will look for the likes of oracle and microsoft looking for those algorithms looking for walmart to maximize some of the information it cleans from users. you think o

treasury department, bytedance, and oracle. bidng to terms on oracle's for u.s.tok. what might those terms be? daniel elman is with nucleus research. great to have you with us. terms revolve around issues of national security. what is your expectation of what oracle will have to agree to in order to get this by donald trump? i think the biggest thing so far is that the u.s. data on u.s. users needs to stay in the united states. there were terms in the agreement between tiktok and bytedance, that data could be shared, and that we need to be addressed so that and they -- any u.s. data could not be transferred back to china. vonnie: there is also a question of whether a fee would be involved, and with the president agree if there was no fee involved? pretty he has talked extensively about how he feels the u.s. should be compensated financially for its part in facilitating this, allowing tiktok to continue to operate in the u.s. amanda: is this a good transaction for oracle? whatever terms it has to agree to, it is a worthwhile exercise? daniel: i think a big thing a

that oracle would happen all of tiktok's u.s.ser data in this scenario and oversee all of tiktok's u.s. technical operations. oracle would be able to check source code to prevent backdoors. tiktok's u.s. board would be approved by the u.s. government and oracle would create, they say, 20,000 new jobs through tiktok operations. joining us to talk about how it has impacted markets, we have bloomberg's sarah ponczek. let's start with the fed decision and how it rippled across the markets today? sarah: we have a lot of moving parts but when it comes to the fed, you officially have what is called outcome-based for guidance. as some call it enhanced for guidance. werethe highlights were, one, the fed does not expect to raise interest rates until 2023. three years away. will notme time, they raise interest rates until inflation does meet the 2% target on an average basis, and we seek maximum employment. as you did mention, chair powell did say the recovery has been faster than he expected, downside risks are hanging around. when i spoke

thisf the scenarios in partnership with oracle would be the date it would be stored on oracle's cloudrs. that would be the data would be stored on oracle's cloud service. all of these things are being ironed out. francine: our chief asia correspondent, stephen engle. let's get to bird first word news in new york city with ritika gupta. ritika: oracle has beat out microsoft in the battle for tiktok. it now faces a deal with oracle that will look more like a corporate restructuring than an outright sale. president trump has threatened to ban tiktok if u.s. operations are not sold. tropical storm sally is taking aim at new orleans and southeastern louisiana. it could turn into a hurricane and is likely to make landfall tomorrow morning, making it the second hurricane to hit louisiana in a month. it has already led to evacuations on some energy platforms in the gulf of mexico. president trump held his first indoor rally in almost three months. the state democratic governor accused him of endangering lives. president trump told supporters he had been blocked from using a number of outdoor