Tom good morning everybody. Bloomberg surveillance. An extraordinary friday getting ready for october as well. Fox, mr. Ross drops a bombshell. He will take tiktok away from my children. I dont believe it, including updates. Aboutan shall i be clear what is going to happen . As of monday you wont be able to download the app. If you download the app, you wont get the updates as of monday. As of november 12, if we dont have a deal, that is when the shutdown comes into force. In plain english, that seems to be the story. Jonathan you have to tom you have to believe the chinese will respond to this whether that is the china vehicle of tiktok or the government in beijing as well. An ipo withsider ystrom of instagram leading the company. To the various point, oracle shares down in trading. This is a transaction, we dont know how to identify it. There is very little visibility. Tom the key phrase is hardline. Communication with the americans is clear. How does china react to hardline . Jonath
Within a difficult market. Whatews flow dominated by is happening between the u. S. And china on the tech front. Of we chat andds tiktok will be prohibited. The Commerce Department said the Chinese Communist party has demonstrated the means and motives to threaten National Security, Foreign Policy of the u. S. Joining us now is bill faries. Overall take on this, and a potential chinese reaction . Is trying to. Raise the pressure to get the parties to some kind of a deal here. They will basically allow tiktok tiktokhey are telling that will not be able to upgrade, do any servicing this sunday, and banning the use of chat in the United States. There are some carveouts, and i think that is why the u. S. Wants to find some agreements. Tiktok is not being banned officially until midnovember, november 12 is the key date. Involveds the parties some time to reach an agreement to address some of the National Security concerns that have been raised. Overall, i think it is probably more of a posi
Down 600 points recently. We are not near a correction yet on s p, but we are getting there rapidly. I dont think this can be underplayed the virus, the pandemic is really front and center on a global basis, even with an america distracted by an historic moment. Momente and a historic that could possibly sway the election. Lets get to the bloomberg first word news in new york city with ritika gupta. Ritika good morning. The death of Justice Ruth Bader ginsburg has thrust the Supreme Court into the political spotlight. Republican leaders in the senate are hoping to rush through a replacement with President Trump expected to nominate his pick this week. Democrats are warning of a constitutional crisis. If joe budden wins the election but a trump candidate is still confirmed to the Supreme Court. President trump is celebrating the tiktok deal, despite it falling short on some of its key demands. The white house gets a promise of new jobs sources have told bloomberg that tiktok is taking a
You are, a lockdown. A judicial lockdown in washington as well. One of the tea leaves am looking at is strong in, really indicative of the correlated angst we are seeing right now strong yen, really into get of of the correlated angst we are seeing right now. Jonathan in europe, the ftse off by more than 3 . The dax off by 3. 25 . Europe also looking to washington. Let me be clear about that. That has been the conversation throughout the morning here in london. What do the evans over the weekend me for policy and washington, d. C. . The past toward the fisc or agreement much trickier now toward fiscal agreement much trickier now. Point, there was a huge worry on wall street about the period from november after the election went into the end of january. For market participants, they are probably a little more worried about that this morning. Tom not just 40 days away from the election. I think really unspoken in all of this is eight days to the first president ial debate. That has radic
The quality of our guests there, including Rebecca Patterson of bridgewater, saying complacency into october, ramp it up ritika . Right now ramp it up. Right now, we welcome all of you. It is simply a monday friend from what we knew friday. Jonathan it is not a quiet start to this monday morning. Equity futures down hard. A bid into the bond market. Stronger japanese yen. Everything you would expect to happen on a risk off monday is happening. When you look to europe and the prospect of tighter restrictions around some of these economies, look no further than travel stocks. Break it down sector dissector. Travel stocks down 5 . Tom what i find just extraordinary here is it is not just about the future of the Supreme Court after the death of ruth bader ginsburg. Theres many stories. To me, learning over the weekend about this new heightened pandemic is front and center. Jonathan lay it on the three dimensional Political Risk playing out in washington. The three di mentions are as follow