Coming up 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 worlds 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 lets dive right in. And its 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 tictac and were now learning would give walmart 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 tictac something President Trump says he does not like. Were looking into that from the standpoint of byte dance we dont like that ive been just conceptually i can tell you i dont like that. That has not been told to me yet that has been reported but it hasnt been told to me it could be very accurate reporting for a change so if thats the case im not going to be happy with assuming that my guess 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 to stop politicising normal economic and trade cooperation and provide an open fair and nondiscriminatory Business Environment for Foreign Companies in the u. S. And joining us now to discuss our boom bust cohost christine. Thank you both for being here as always christine so at this point by dan says it has to be able to comply with both the Chinese Government and the u. S. Government are they going to be able to thread that needle. Its going to be difficult because by again this feeling the same way it did last year now that theyre the ones in the spotlight so they have to very carefully balance the demands of the u. S. With those of china while also not neglecting the expectations of the public users tips because already by dan has faced a wave of criticism from chinese citizens for seemingly to giving in to u. S. Pressure after it was reported it was just contemplating a sale so this led to hundreds of meeting aplenty during the chinese version of tech talk and also influence and announcing that they would stop using the platform if it got sold to u. S. Company so its trying the best it can to appease the 2 countries and that will require now doubles line outs in order to go through so thats an extra layer of uncertainty and weve been talking here as if the biggest hurdle to get this deal done what the trumpet mr asia and perhaps it is but chinese regulators are being lax about this either because they have now made it quite clear. And youre right its not to be sold under any circumstances and that they would rather prefer that u. S. Operations a tick tock to shut down rather than be seen it sold to an american. Theres a new development in this whole deal which we mentioned there at the earlier in the show walmart which had originally joined the bit with microsoft now seems to be part of the oracle deal but how did that happen yeah its kind of a strange twist in all this because remember originally the deal was coming down to either oracle or microsoft then walmart jumped into it and said well well partner up with microsoft will sweeten the deal and it should come to us and then it didnt go into oracle instead so now somehow walmart has jumped off of the microsoft ship and theyre now jumping into this with oracle apparently as you said here in the lead up the c. E. O. Doug mcmillan of walmart is going to get a board seat on tech talk as part of this deal and walmart with an equity stake in the company in fact what a treasury secretary Steven Nugent has said is that u. S. Companies oracle and walmart he claims will together own a combined 50 percent plus of ticket now we dont know that thats true thats just what hes saying but hes saying those to us investors which calling these guys investors is ridiculous right because its not investing its almost like highway robbery or like bandits that are jumping into this forced to sell of to talk but essentially thats where we are now so walmart not to be outdone by anybody else has decided no matter what theyre 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 theyre putting in money and theyre just going to collect the benefits because it doesnt appear theyre getting into trouble and to that point you know take that as 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 its a deal breaker if it isnt sold to an American Company. Well theyre trying to find a compromise and i think im a very logical one is divesting some of its assets rather than all and of putting in a buffer oracle to safeguard the data of the millions of americans which is apparently the bacon National Security concern so actually it did address all of the concerns that trump raised but unfortunately doesnt like this compromise because this means that he would have to amend his executive order that he signed on august 14th something that no u. S. President has ever done in the history of National Security reviews so this would force him to backtrack is where its so at this point its also an image matter for him but at the same time trump may also not want to alienate the 100000000 or so american ticktock users so close to the election and also his Silicon Valley heavyweight buddies who had huge stakes in the social Media Companies so this is going to be a very difficult pill for the tribe ministration to swallow because to Talk Solution is actually based on past president s so if he has allowed foreign firms to keep sensitive u. S. Assets on several occasions by imposing oversight and restrictions on how theyre operate at i mean that was the case when chinas leno acquired i. B. M. And also when Japan Softbank acquired spread so bike and has now proposed similar measures so its agreeing to be a good sport and play ball according to the u. S. Is only rule book so to reject it now ill just want to go look theres another potential deal breaker and thats the fact that under this deal the u. S. Treasury department is not going to get their cut if you remember the president had said in the past this would happen because the president really get any kind of a win here i mean we know he likes to say he wins even when he doesnt but what do you think. What hes going to say wins no matter what happens whether to talk survives or not its a win but according to him but look thats a very really important point you and i have actually talked about this before and the reality is its insane to say im going to broker a 4 cell of a a private company and were going to take a chunk of that money and were going to put it in the u. S. Treasury because i made the deal what are you talking about again i refer to highway robbery before i mean thats really feels like that and apparently lawyers for the administration let the president know last week you cant do that you cant broker a deal and then put a bunch of money in the treasury and say i made this money so that couldnt happen we all kind of knew that was going to happen but the fact that its not going to happen its just another moment where the president has to backtrack on this what christie said is important she made a really good point that you know the president would have to back off a little bit but you have at least 5 Senate Republicans including marco rubio who have come out saying if by chance retains any control any control at all over the data or the algorithm then this should be a nonstarter well the reality is by dance will retain control of the algorithm because the Chinese Government says you have to retain control over the algorithm theyre not going to give that up and by the way nor should they should not give that up to a u. S. Company simply because a us president declares it to be so and now kristie i think that the 1000000. 00 a 1000000000. 00 multibillion dollar question really here is if this deal going to move forward whats your take on that. I mean its far from anything but a sure thing but i think there is a good chance of something happening especially with oracle spearheading it on the u. S. Side and kind of massaging it through the messy politics because after all the federal government is currently oracles largest customer with all 4 branches of the military also using oracle products so who apparently its better to safeguard data if not what youre already using for the military and ben same question do you see this deal Going Forward with all of these issues that weve just covered here the senate the president the Chinese Government is this going to move forward i think it does move forward for the same reason the christie said because you have oracle and you have walmart you have 2 massive u. S. Corporations that are really going to push it through listen if Senate Republicans make too much noise walmart will simply send them a check and say hey well support your Reelection Campaign because its good for walmart and whats good for walmart is good for america i think that ultimately those of the powers that win this thing and ultimately the chinese are happy because they say we didnt give up the algorithm in the us ad because they say we took control of the most Successful Tech Company in the world right now thats a heck of a advertisement for walmart whats good for walmart is good for america boom bust cohost. Christine thank you both for your time. Thank you. And one of the leading drug makers searching for a Coronavirus Vaccine now says it could have enough data to prove its efficacy but dirda c. E. O. Told c. N. N. B. C. That data might be available as early as next month but it will likely not be available until november still scientists and medical experts are concerned the white house may be pressuring the f. D. A. To approve a vaccine before adequate testing has been done on the dirt as part of operation warp speed backed by the United States and one of 3 in late stage testing madonna stock has soared more than 250 percent this year and. The companys shares gained 3. 8 percent in premarket on thursday on news that madonna now plans to start developing a seasonal flu vaccine but have since fell off in news release madonna c. E. O. Stefan bon sell said we are increasing our investment in vaccines and we will develop a seasonal flu vaccine given the unmet need for highly effective vaccines the World Health Organization is calling a recent spike in co but 9000 cases in europe a wake up call during a press briefing thursday the. Regional director for europe spoke about the significance of the latest outbreak we do have a very serious situation unfolding before us we have no exceeded those but they make 1st beaked in march more than half of European Countries have voted a good 8 that have been 10 percent increase. In the past 2 weeks of those 7 countries have seen muley deported cases. More than 2 fold in the same period. And with this in mind lets take another look at the trends and spread of the virus globally with our 2 correspondents which are. Resurgent sobran we have finally had the 30000000 mark in global cases by 22000000 actually over to over 22000000 have fully recovered and these 33000000 cases now officially more than 5 times the number of people who get the flu annually so remember the beginning of the pandemic they were saying no the flu is a lot of worse well guess what its not but deaths globally were close to 950000 now in the u. S. More than 6800000 occur from cases while now deaths there once again surprise 200000 now here is where we are in daily new cases and thats in the u. S. For wednesday and wednesday 39216 new cases reported a decrease of 3 percent from last week and 997 reported thats only a one percent decrease from last week and brant while much of the talk has been about vaccines red were hearing when are where the vaccines one of the going to hit the market but now a new numerous polls are suggesting that most americans would actually be has attempt to get vaccinated and right now only 40 percent of americans say that they would get a vaccine short of the 60 to 80 percent of the population doctors say is needed to achieve the herd immunity and suppress the virus so while having a vaccine for frontline workers and the honorable population is great but it really one makes much of a difference if not at least 60 percent of the population is in fact vaccinated brant and sorry i want to go back to the bet point we made at the beginning of this segment about the spike in kobe being cases in europe what are we seeing there so exactly like youre said in europe is seeing new cases right now and there are again what you said a getting a whip. Wakeup call so here are the top 5 European Countries with most new cases reported in the last 24 hours there spain now theyve already had the highest number of infections in europe so theyve reported over 11000 new cases and new lock down plans are expected to be announced this friday now meanwhile of france the number of new daily cases reported on wednesday was actually the highest ever reported and ali that there i. C. U. Unit being used for 1000 patients is also on the rise in the u. K. Which has the 3rd highest number of cases in europe now they Just Announced earlier today that almost 2000000 people on the northeast parts of england and that that thats the current hot spot theyre going to be banned from meeting anyone outside of that area and only 6 months after italys crisis became a warning to everyone not just to europe but to everyone about just how quickly the virus could spread now italian officials are once again reporting new cases on the rise so although not get anywhere near the last peak of about 6500. 00 new cases per day but still a significant rise from the 200 they were having earlier in july now even germany you know theyve always been the example to the rest of europe and how good they contain the virus there is slowly seeing their daily case also a job with nearly 2000 infections and thats a double from where they were having in august 1st but theres also a caviar to keep in mind when examining europes new. New case count because europe is actually testing has dramatically changed over the course of the pandemic you know were as almost all of the cases that are reported at the beginning of the pandemic there were symptomatic meaning these are people that showed symptoms because only symptomatic people reading tested because there were very few tests well thats the exact. Opposite of whats happening right now theyre not asking everyone to get tested so testing alone cant fully explain the car in case increase i least not in every country in europe brant r. T. Correspondent side tabular thank you so much for the insightful report and time now for a quick break but hang here because when we return u. S. Jobless claims are and while they have locked in below 1000000 the picture remains dire in the wake of the coronavirus pandemic and as we go to break here the numbers at the close. Really key sneer those who really can show you. Some. Numbers to. Go to see if you. Are doing your force where you could be the spirit. Was more than 6 pm in no. Place to move. The story keep. It. Ringback ringback. Both. Last time we chased. Each one of will carrying 20 kilos d of drugs. In the. Morning. I dont know. I will break. For. Around one. Class. People in poverty. If youre born into a poor family if youre born into a minority family if youre born into a family that only has a single parent that really constrains your life chances people die. Generational poverty. Its a tough fight every day you meet your needs and the needs of your family. Welcome back airline c. E. O. s in unions representing their workers on wednesday called for another round of federal aid as a prohibition on job cuts in the industry will expire in just 2 weeks as part of a 25000000000 dollar aid package passed back in march companies were banned from laying off or furloughing workers through september 30th starting on the 1st of october more than 30000. 00 jobs in the industry could be in jeopardy if more relief is not provided as the demand for air travel has not come back amid the pandemic airline c. E. O. s met with white house chief of staff mark meadows on thursday asking for another 25000000000. 00 just support the industry through march of 2021 while a full 1. 5 trillion coronavirus. Trillion dollar coronavirus aid package remains in limbo meadows told reporters that House Speaker nancy pelosi was willing to move a bill to keep people from being laid off in the Airline Industry thats a stand alone that stand alone that the president would certainly support it and 1st time jobless claims in the United States were less than expected for the week ending september 11th the Labor Department reported 860000 new claims 15000. 00 below wall street expectations of nearly 30000 less than the week prior continuing claims fell by nearly 1000000 to 12630000 for the week meanwhile u. S. Equities had an up and down day thursday ending in the red responding to the fed policy positions released wednesday and new data showing an economic rebound losing a little bit of momentum so lets take a look at the state of markets with tobin smith c. E. O. Of Transformative Research always great to have you on television i want to start with this volatility were seeing in markets thursday everyones going to blame it on jobless numbers are going to blame it on the fed they might blame it on some i. P. O. s but these issues will be here for the foreseeable future are we on deck for another selloff like we saw last week in the week per. What are you seeing in the markets yeah i mean 1st off the market is tired and its tired because if you have new money to put to work today if somebody came into our management account business or heres a 100000000 bucks i would not put it in the same stocks that we put it in in march or the same stocks we did in june its been 25 names of stocks that have worked well because it was an easy construct you would say that in a world that is not growing are actually a shrinking companies that have subscription based software that people have to pay or they go out of business or growing like this so growth becomes very rare and everybody got on the same meme you know and everybody got on the same vibe and then all of a sudden we had snow come out yesterday now this is a Wonderful Company this is a company that will do maybe 700000000. 00 in revenue and yesterday it was worth 78000000000. 00. And what that told me was 1st for people to buy that they had to sell Something Else right so what they did is they sold what they own and thats what i think were seeing here we were not going to value because that would value is impossible to come up with today but but if i own stocks some of ours are up 3400 percent and i dont want to get in this new game because the new game is i. P. O. s and special acquisitions spac because thats where the energy is if i want to continue to beat the market i got to be there which means im going to take profits in these great Wonderful Companies that are selling for 50 or 60 times their revenue i mean its tired we broke 11000. 00 and nasdaq thats really the support so ive been looking for another 10 percent just simply a we get sellers exhaustion right now the game is i. P. O. Suspects baby and i want to talk about that i. P. O. Of snowflake because it was up more than 111 percent close of trading on wednesday the Company Raised more than 3000000000 dollars based on the just the opening price alone thats more than any Software Company ever but of course its already lost 10 percent on thursday more than 10 percent really whats your take on this i. P. O. Beyond what you just said there ed do you see this downward trend going going to last for a while because like you said theyre not making anything close to what their market cap was. Yeah i mean it was an outlier because Warren Buffett was putting money in a sales for success or a but remember they left 3800000000. 00 on the table in other words thats the whole reason why these special acquisition deal specs are being done because then you negotiate your price upfront youre not leaving money if youre looking to raise 1200000000. 00 you raise 1200000000. 00 and youre not then the next day when your stock be up 150 percent which meant you probably only needed to sell half the amount of shares so thats why the specs are doing well the i. P. O. s now you know you know wall street they smell blood baby blood a series of money and so youre going to see i mean all these. Private companies that have been on the sidelines for a long time have palin here coming a direct listing you have many other guys have been a long time and of course down the road air b. N. B. Youre going to see a smattering of that but a deluge im sorry that deluge is the sign just like it was you know late 99 in 2000 that all the guys were going to rush to the portal theyre going to take for me to buy those stocks i got to sell the ones that have been up and so thats what were getting were not getting rotation of value were getting a rotation to get me and at i. P. O. Get me in that new spac because actually is making money thats where youre getting alpha thats where youre getting up performance right its quick money and hedge funds are making their entire years worth of funds for people in that one day i absolutely know i want to touch on this airline c. E. O. s asking for another 25000000000 dollars bailout i will remind you they werent giving us any breaks when air travel was going they werent giving us any cheap flights but it will continue their the travel sector of course have been decimated since the start of this pandemic now if they dont get another round of aid and are forced to lay off tens of thousands of workers are we going to see the sector even continue to drop further. Yeah you know we are i mean for a couple of days as you said we had 800000 unemployment of this last week a year ago we had 200000 of the same week you know that that industry is not only flat on its back but remember they also borrowed a whole bunch of money i cant say that bad word in buying new planes getting these so theyre upside down multiple ways the United States only has one choice really here theyre going to hold a gun to the head of some of the large ones of big debt to combine theres going to have to be mergers there is too much capacity and it secondarily you know as you know the money of the airlines is made in the in the 1st 8 rows and thats where almost all the profit comes Everything Else in the back just pays for the gas in the in the you know the pilots accept it so as a commercial flight people who like me paying 800 bucks a seat. I havent i have paid any dollars for a seat in 6 months and am i going someplace else well i have enough miles if im a you know gleick me i going to pay for tickets the next 2 years i get points out that was you right so now we have this issue that they have to consolidate maybe you know southwest survive certainly because they have shorter runs and maybe some of you know jim blue who are interested states but the big guys have to consolidate and by the way china is trying to you know theyre adding many more planes that were boeing but now theyre on chinese planes so theyre going to competing to r. And to what i have about 30 seconds for this but back in april you were touting electric trucks start up nickel at 16. 00 a share you mentioned that you had sold that around 80. 00 a share and now the company is facing investigation from u. S. Regulators saying they may have misled investors about the technology and the company even admitted this week that a promo video of a prototype truck that was released 2018 well that truck was rolling downhill and not using technology 30 seconds quick take on that. Its toxic right now its a shame i do they are going to survive because they raised money but they were you know trevors a great guy but he should never have been given a microphone to talk with the f. C. C. Listening so id stay away for a bit of a while tobin smith of Transformative Research thank you so much for your time. Thank you brian. And thats it for this time catch us on portable t. V. You can find that portable that saving and of crossed a bevy of other devices well see you next on. In. Leg. Length. Over the last 3 president ial election cycles there is clear evidence voters are attracted to the message of not interventionism and are very weary before and this most certainly helped trump in 2065 his time in office is spotty at best buy appears to embrace the same form as bush and i guess nothing will fundamentally change. The loop that goes on in direct small sco towards that chemical weapons watchdog to see alexina volleys poison test results the o. P. C. W. Points russia bok choy award ceremony. With what weve been to the o t c w several times they say. Demands answers from washington amid reports the u. S. Is arming groups in crimea that russia views terrorists. Coming up in the Program Oxfam signals the alarm claiming most of the covert vaccines under development are being snapped up by rich nations leaving the