tictoc competitor bite.irst, our top story, the s&p 500 declining the most in almost a month with energy and technologies leading the losses due to concerns about the impact of a major virus that originated in china. it comes at the same time as the s&p goes into the busiest week yet for earnings, with some of the largest tech names reporting. joining us to discuss, craig johnson. thank you for joining us. i wanted to talk about today's action. stocks off about 4%, the nasdaq off about 2%. do we expect a bigger correction to start happening? craig: i think this market is one where we will get a bit of a deeper correction. we put out a piece earlier this month and titled it, i will melt with you, and of a play on the words for me popular song back in the 1980's. from our perspective, all the conditions were right to see this kind of 5% to 10% correction in the market. a little bito be deeper of a pullback. i would not be surprised to see a pullback toward the 200 day moving average. look for some more profit-

politicians who have tictoc under review. we know tictoc is owned by another company.a lot if this is around national security issues. what are some of those threats they see within national security? yueqi: u.s. politicians have expressed concerns about the safety of the data of tictoc. they are also worried about potential censorship and they worry about foreign influence from other governments, especially the chinese government. and tictoc has said that other data for u.s. users is stored in the u.s. with backups in singapore. they are beyond the reach of the chinese government. tictoc also denied any censorship or any influence from foreign governments. taylor: yueqi yang, thank you for joining us. coverage ofto our ces, las vegas. by 10 announced a partnership with viacom, cbs, during video content directly to the 48 inch stream in their cars. the mbyte does not go into production until later this year but the company's ceo is already thinking about making money from data going in and out of the ev. daniel spoke to ed ludlow at ces. smart device.lt a i think it wi

taylor: we have been talking about the owner of tictoc spinning off or selling off a portion of tictoco improve relations with the u.s.. how are those conversations going? mark: we don't have an update from what we reported weeks back , which is that these discussions have happened internally. with the ceo conversations, could they put someone here that might oversee tiktok? is notce has said this something they are discussing, but bloomberg has reported differently. it does seem like a realistic possibility that if regulators were to say if you want to operate here, you have to totally disconnect from your maybe this new regulator would take the reins. taylor: netflix reported fourth quarter earnings tuesday with overseas subscriber growth helping offset a slowdown at home. the streaming giant has not put in an all-time high on the share price since june of 2018. take a look at this chart. it is unlikely to change soon. this suggests netflix's subscriber numbers could continue to disappoint. with new services, what can we expect to see in the overall streaming landscape? to discuss, m

we should note that tictoc says -- for more, we're joined by the head of engineering jack schwartz.report was alarming, page after page getting more nervous. what are some of the major security flaws you found? two on top of each , aer, allowed a bad actor malicious user to modify urls for login. that would result in code being run on the victims device. , account takeover activity was capable to be leveraged against the victims device and once that account is addingver, there was videos, deleting videos, marking videos that are private as public and there was subsequent vulnerability that allows for api access into personal data of the account owner that was being maintained by tictoc. >> one of the weaknesses of , they deployed a solution or patch for it? >> we notified them and they were quite responsive and closing these issues, but the research is implemented of a much larger concern and that is applications are deployed on both devices that are susceptible and these are discovered vulnerabilities that we know of and when we consider movie don't know in the applications that ha

ceo for it's tictoc business. what do you think? would love it if they stopped using the term chinese company. that's what it comes down to. they are trying very hard to shake off the image that they are a chinese company. they want the world to see tictoc specifically, if not american, at least not chinese. it's worth remembering there is a chinese version of tictoc that is also very popular. they are trying to show the world it is a separate company, a separate app. it has nothing to do with china. they want to hire a ceo for that company. it is worth noting they hired a 20 year veteran from microsoft to be their general counsel. eric anderson. that is another positive move forward for them to shake off the 'we are a chinese company' image. i think we will see more of this going forward. more hiring in the u.s. also in new york city. -- culver city. we will see that going forward this year, even into next year. taylor: we are lucky enough to have you in new york. typically you are based in asia. has the asian response been as visc

global news 24 hours a day, on the air at tictoc, on quicktake, powered by more than 2700 journalistssts in more than 120 countries. vonnie: nancy pelosi and mitch mcconnell are locked in a standoff over president donald trump trial. willingonal lawyer is to testify at the impeachment trial. na adjutant.s an . nancy pelosi has not -- we were supposed to be further than this, no? >> there are a few steps that have to be done. they have to name and impeachment manager. dodid not expect them to that until they got back from their break -- get back from their break, on tuesday, january 7. thiswill be interesting is is a strategic moment. it is hard to see nancy pelosi's in goal if she delays the process further. for now, it seems like there is uncertainty surrounding what her plan is and when she plans to move ahead on this and what, if anything, she can demand of the senate. let's say we go to this trial in the senate and mitch mcconnell sticks to his line that this will be a partisan event and the president is equated -- acquitted, what does she do after that, is there a plan post that

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 this is bloomberg. toid: coming up, count down the caucuses. with only three weeks to go, bernie sanders takes the lead for the first time as cory booker drops out. we discussed with our political panel. this is next. this is "balance of power" on bloomberg radio. ♪ this is "balance of power" on bloomberg tv and radio. i am david westin. the once crowded field for the iowa caucuses is narrowing again with cory booker just announcing he is dropping out. there with more on where things stand in the race is a politics totor, who i am delighted say is in new york. this is big news, but not necessarily surprising. running aoker was fine campaign. he just could not really ever seem to find his lane. the moderate wing was taken up by joe biden and by this newcomer pete buttigieg and cory booker was just out there really without a foothold. david: we've got a new des moines register poll out now about iowa what with three weeks to go, and they are usually pretty reli

tictoc rival bite jumps into the video sharing wars. details, just ahead. first, our top story, the s&p 500 declining the most in almost four months with energy and technologies leading the losses due to concerns about the impact of a major virus that originated in china. and it is rattling global markets. it also comes at the same time as the s&p goes into the busiest week yet for earnings, with some of the largest tech names reporting. joining us to discuss, it is craig johnson. craig, thank you for joining us. i wanted to talk about today's action first. the stocks off about 4%, the nasdaq off now almost 2%. do we expect a bigger correction to start happening? craig: thank you for having me on. i think this market is one where we will get a bit of a deeper correction. as i look at this entire market, this is a market we have been thinking has been overbought for quite some time. in fact we put out a piece earlier this month and titled it, i will melt with you, kind of a play on the words from a popular song back in the 1980's. from our perspective, all t

global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists andin over than 120 countries. >> thank you. it was a tough year for hedge funds. here with more is our hedge fund reporter. before we talk about overall returns, one way to look at performances launches versus closure. >> we are on pace for the fifth year with more hedge fund closures than launches. it paints the pictures of how difficult it is for some managers, especially if they are not performing well. we continue to see this unfortunate set of circumstances for many managers. joe: let's talk about the specific winners and losers. david einhorn had a really good year. in 2018, heng gained last year. massively trailing the s&p. they always say you can't compare to hedge funds so i won't. >> how do you feel about that? turnaround for a fund that was struggling badly in 2018. his three biggest positions on 60%.ong side gained 55%, one is an airline leasing company. , the netflix short has not panned out well. romaine: just to go back to this ,dea of these funds shuttering is it just bec

the video sharing service tictoc -- tiktok poses a big one. we will speak to the ceo.from quibi's

the video sharing service tictoc -- tiktok poses a big one. we will speak to the ceo. and we will hear from quibi's big offering at ces. meg whitman and jeffrey katzenberg in las vegas. first our top story, the threat of war brings profits for the defense industry, and a risk of cyber attacks from iran could shine a spotlight on assets. take a look at how these firms performed, their shares gained about 8% the last few days. it is indicative that cyber volleys between the u.s. and iran are not going away anytime soon. to discuss what could be next, marcus is a director at an ai security firm. in studio, our reporter. ingot the attacks from iran physical form. does that mean we are clear from the cyber perspective? >> definitely not. there is a significant distinction between iran's conventional battlefield capabilities and where they are on the cyber front. they are never going to go toe to toe with the united states in this realm in a conventional battle. in the cyber realm, they have a greater chance of pushing back more dramatically and having a greater impact in th

>> on tictoc, there were many accounts claiming to be public figures and important politicians such astrump, orest johnson and bernie sanders. some of these accounts are parity accounts. they take the real profile photo of donald trump. that has apparently led to users believing that account belongs to donald trump. users left comments such as, welcome to tik tok. taylor: why are there so many impersonating accounts? >> these politicians are currently not on tik tok. there is no verified account with a check mark that can tell users those are the real ones. asther issue is that tik tok well as other social media platforms are not actively going through the accounts. they only take down the part -- the impersonator accounts when they are flagged to the company. tok telling is tik you they are doing to resolve these issues? contentare working on and verification in california. they are hiring people from other social media platforms who have been working on similar issues. the company released a new guideline this week expanding their policy on content verification and fixing some of the

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. guy: thank you grandma's. i think life is about to get very interesting for the british civil service. let's talk about how the escalation in the middle east is impacting markets. this is what you would expect on a day like today. up 3.5%. wti gold continuing a bid. the market coverage continues. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn. guy: from london, i am guy johnson. this is "bloomberg markets." risk off. abigail doolittle, over to you. abigail: you just stole the words out of my mouth. risk off is what we looking at this friday. the worst risk off day in about a month. take a look at the s&p 500 and the nasdaq in the u.s. this in response to the increasing geopolitical tensions smd that disappointing i manufacturing report. nonetheless, losses down 0.7%. the nasdaq down more than 1%. in europe, the dax down 1%. of course, one area of the markets popping, oil. it's take a look at it today chart of brent crude. a pop

tictoc whenmp for it comes to politicians, only this time it's dealing with impersonators.oes not have a robust identity verification system to certify accounts and that has led to multiple accounts of as it facesg national security scrutiny. those of the top stories we are watching. taylor: samsung's preliminary fourth-quarter earnings, analysts estimate a profit decline for the world's second-largest chipmaker. the company shares have surged 44% over the past year as the market continues to look for concrete signs of a turnaround in the global memory chip industry. what are you looking for in these earnings? samsung dominates the andstry both dram memory memory use for storage. the expectations for that segment of the market are very robust. people want to see a steadier 2020,e and recovery in whatever they can give us on how does trending to be very useful. separately, from the consumption angle, the picture in 2019 was much better than initially feared. some of the to see strength continue in 2020, particularly 5g and in china. we will see more trans and samsung is expe

global news 24 hours a day on air and at tictoc on twitter, powered by more than 2700 journalists andsts in over 120 countries. i am mark crumpton. this is bloomberg. romaine: there is a coronavirus still causing disruption for a lot of companies. apple saying it will close to more stores in china. delta temporarily cut u.s.-china flying. we had a headline from microsoft saying they are restricting employee travel in certain areas of china. theh: this is as we await world health organization meeting coming tomorrow. we do want to get you a quick recap of those facebook earnings. we look at monthly, daily active users, they did come in right in line. at 21r, revenue coming in point dollars. it is the lowest quarterly growth rate on record. for more, we want to bring in david kirkpatrick. what is your initial take away from these reports so far. >> all of these stocks eat predictions. this was better than -- beat predictions. this was better than that. i think the reason is more or less simple. this company is in the most precarious position because they are just so in the crosshairs of

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and more than 120 this is bloomberg. let's get back now to san francisco with the j.p. morgan health care conference. taylor riggs is there. walmsley. have emma this is notable that we are here in san francisco and it feels like this area has played a role for your company. where do you see the intersection of energy -- with technology and health care? >> innovation is the first of our priorities, and we are thrilled with the progress and momentum we are ringing here whether it is with what we hope will be at least six new approvals for 2020. technology for us is an enabler of innovation. fundamentally it is so exciting to see the advances coming both in biology critically with the science of immunology it also with technology. the r&d is here and we have been building up new partnership whether it's 23 and me, or whether it is pioneers with self therapy. this is a fantastic ecosystem here. see a lot of opportunities to improve through genetically validated targets the rnd.bility of succe

coming up, this chinese internet giant once a new ceo for its tictoc business. the requirements, must love ads. we are livestreaming on twitter. check us out and follow our global breaking news network on twitter. this is bloomberg ♪ taylor: welcome back to the "best of bloomberg: technology." i'm taylor riggs. this week and brought new concerns about global health as officials in china announced more deaths related the coronavirus. more than 600 people have been confirmed with the virus. this all started in wuhan, china, where the virus was first detected. airports all around the world began screening passengers and health officials scrambled to respond. >> we will take strict measures to contain the disease. we have asked wuhan city and hubei province to take the strictest control measures. taylor: as for what is at stake, we can look at china's gdp. china's economy is more integrated today than during the sars outbreak, but as for industry, some companies with heavy exposure to chinese travel weighed in. >> hospitals and communities are much better prepared c

global news 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analystscountries. i'm karina mitchell, this is bloomberg. nejra: thank you. we have the latest on all the moves in the oil market following the escalation of tension. what is the scale and context? reporter: we are closing on $70 per barrel. 4%, yesterday, we have not seen this since september, since the attacks on the saudi aramco facilities. this is a big move. premium.tical risk this is not the same market we had 5, 10 years ago. it is not a massive move given the fact that analysts say this could trigger a war. the world is less dependent on middle eastern crude. everyone was talking oversupply, most notably u.s. shale. no oil facilities or production was hit. surprise side, nothing was changed except for fear in the market. worries that this could destabilize the middle east and the market, generally. tom: thank you. headlines out on these matters. chancellor of the republic of de-escalation is important. the oil minister in iraq saying 4 u.s. citizens working with exxon, leaving as well

global news 24 hours a day, on the air at tictoc, on quicktake, powered by more than 2700 journalistslysts in more than 120 countries. francine: thank you. numbers for payroll december will provide a clear perspective on the underlying hiring trend after a strike at gm. bloomberg economics protects 205,000.and says -- nadia, you follow u.s. equities. you can have one print and validation by another one. the point of the matter is that the picture here has been strong for a long time. it should continue to be so. it is a constructive background. francine: would you agree with that assessment? >> yes. we are looking at strong numbers today and continuing employment growth in the states. francine: it all boils down to inflation. >> yes. in the short-term, and the next six to nine months, inflation targets will not be an issue depending on what the target may be. i think inflation will remain pretty benign. i think the concern may be as we run pass the presidential election, whether we see a pickup in inflation, that is something they will worry about. also, how strong will we recover in

>> reporter: yeah, i mean, that's going to be the next step is sort of the investigation and the tictoc of exactly what happened. those black boxes we understand from government officials were damaged in that crash, whether or not they're sent off overseas is now something that's being discussed and we're hearing from all the corners of the iranian government. we heard from the foreign minister, and he writes in part, a very sad day, preliminary conclusions of the internal investigation by armed forces is that human error at a time of crisis caused by the u.s. adventurism led to disaster. our profound regrets, apologies, condolences to have our families, all victims and the affected nations. you can see they're starting to paint this picture that while they are responsible, while they are the ones who shot down the plane, they are starting to put out this narrative that it was because of the tensions that they say the americans had ratcheted up. >> in essence he's saying if the united states had not started all of this, none of this, this domino effect would have taken place. >> exactly

lobby for a final report, limiting any .conomic disruption global news 24 hours a day on air and @tictochan 2700 journalists and analysts in more than 120 countries. this is bloomberg. u.k., thein the brexit deal returns to the commons today as the government resumes the push. our editor joins us now. thank you for sticking around or coming on. tim, there is a resumption of parliament. they want a trade deal between the eu and the u.k. where we get a deal? -- will we get a deal? tim: expect more drama by the end of the year. time for the team is insisting they can get it done but most people on the eu side think there will be another extension to the transition which the u.k. will be in after it leaves the eu in a month. francine: how would you describe this conservative party? tim: powerful. they have a majority in the comments so they can do whatever they like. like you areseems trying to get back to the people who have less. tim: it gets to the heart of the question about what will johnson be like as a prime minister now he has that majority. in the election, he successfully converted

global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts120 countries. this is bloomberg. anna: laura wright in london with your first word news update. leader hasreme warned of severe retaliation after a top general was killed by a u.s. air strike in iraq. the attack was ordered by president trump and risks escalating a growing conflict with the islamic republic. let's bring in the executive editor for the middle east, riad hamade in dubai. we are all looking to see whether this escalates or de-escalate's from here, whether this leads to further conflict and what kind of response we get from iran. we have seen from the president of the islamic republic, from hassan rouhani, a statement on twitter that talks about the path of resistance continuing. what have we learned most recently about how this could escalate from here? have madethe iranians a point of showing they do have the ability to hit back at the u.s. and its allies in the region. we have had most are medically the attack on the saudi oil facilities, which took out for a number of

also on the social media front ,gainst companies like tictoc they are gaining momentum in the u.s. huawei and other chinese tech giants? >> there are signs that the administration is considering ways to tighten loopholes in sanctions against the company. we will have to wait and see. a lot is tied to trade talks, which whacked at wayne depending on the time of day. in terms of alibaba and tencent, the two incumbent chinese tech giants are under fire from , which areng rivals gaining momentum in social media, as well as smaller players. chipping away at the dominance they have enjoyed for years. xact we will see a decoupling trend continued between the u.s. and china? >> absolutely. we always refer to the chinese internet space as a parallel theerse, from the one that u.s. and european audiences are used to. that will continue and strengthen in 2020. so much.hank you let's get a check on a markets. pretty much flat. stock futures looking more positive while the dollar is stalling around -- aussie dollar is stalling. the qe dollar up after the best month in two years. the rally looki

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists andura wright. this is bloomberg. guy: thank you. coming up, the world economic forum returns to davos. we will bring you interviews from the global gathering of finance leaders. oil trimming earlier gains. supply concerns featured. we are talking about iraq, talking about libya. this is where crude is now. brent trading up point now in .9%.nt -- brent trading up this is bloomberg. ♪ guy: from london, i'm guy johnson. this is bloomberg markets. let's talk about what is happening in the markets, and we need to talk about the oil story. here is anne-marie horden. annmarie: the ftse down .4%, s&p futures are lower as well. we are seeing muted volume this morning, a little bit lower as we have the martin luther king jr. holiday in the u.s.. the u.s. markets are closed. the stoxx 600 being brought down by retail and travel stocks. it is a cyclical move as we have a lot of event risks today. it is the calm before the storm. we have a lot of fresh corporate results this week, on top of that cent

the chinese internet giant is seeking a new head of its tictoc business.opular but has been targeted by american lawmakers as being a potential to debt security threat. it has artie interviewed some potential candidates for the role which would be based in the u.s.. markets open in tokyo and seoul. let's turn to sophie for what to watch. sophie: we had data from japan just minutes ago. we had a bigger than expected drop in japanese exports, down 6.3% to mark the 13th year on year decline. that was an improvement from the 8% drop we saw in november. japanese exports to china rose 0.8%. we are seeing nikkei futures off by 1%. ground,is gaining drifting further after recovering from its eight-month low that was it was friday. u.s. stock futures are under pressure, exacerbating this decline. benchmarks closed little changed on wednesday with energy losing ground in the u.s. while tech shares rose. we are keeping a close eye on asian semiconductor names today. this after two major industry names offered guidance that would be asml and texas instruments. that wa

global news 24 hours a day over the air and @tictoc on twitter, powered by more than 2700 journalistssts in more than 120 countries. i am jessica summers. this is bloomberg. haidi: thank you. china has confirmed its top trade negotiator will be in washington next week for a phase one signing. both countries are lining up deals along with trade agreements. we are joined now from los angeles. we just heard they will be attending the ceremony. what kind of activity are we expecting that will ride the momentum? u.s. side,from the they are eager to show that this deal is about more than increased agricultural purchases. that is important for trumps farming base and for his reelection bid. i think they really want to show that there is some meat on the bones of this deal, and getting u.s. and chinese companies working together and more entrenched in each other's economy will be a key part of that. this is ahead of a potential phase two, which president trump said he wants to start negotiations on right away. given that this is an election year, it seems they will keep track of negotiations.

also seen in the last few years is new innovative platforms and technology coming out of china, like tictocse 90%et is the red platform, under 30 and majority women, and it is a forum where you can post and share with friends reviews on beauty products. that is one of the big trends we are seeing with the she economy, new forms of retail and new forms of consumption, so content type and driven commerce and not just some he going to a normal website and clicking on things. so that is an example of how we see china leading mobile technology with this model. >> you started lean in china and 2013 and that has grown to 100,000 members in china. what are some challenges your members face and how has that changed? virginia: the data is really interesting. when we started lean in china, one reason was that we realized women lacked confidence, social networks, and they lacked role models. a lot ofrs later, these issues have been addressed. and what we see now in terms of data that we publish is that women are talking about what self-actualization means. when we ask, what does this mean to you, they

global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists andries. bloomberg. >> with your main stock movers here is dani burger. at a weaker day in europe. down nearly 2/10 of a percent but the u.s. turning around. we are treading water. some virus concerns are still hitting european stocks. travel and leisure are the laggers.agga -- oil trading above $62 a barrel. some hedging heading into the lunar new year with the yen gaining against the dollar up .2%. is theer big macro story ecb decision that we are expecting today. little changed as european bonds across the board. the yields of the bund down one basis point. notecb is on autopilot, much change expected in policy despite this big strategic review that we are expecting today. for now, little movement and leasttraders are hedging the -- traders are hedging the least heading into this meeting. francine: the final steps to completing a european banking union remain elusive. can progress be achieved? joining us now is the dutch finance minister. thank you so much, minister. we have talked abo