Today, Senate Majority leader Mitch Mcconnell said he will take any nominee to the senate floor for a vote. First, i will talk about the markets moves of the day. Abigail doolittle is with us from new york. Abigail a volatile one. You cant go a day without massive swings in the u. S. Sharply lower. The nasdaq at the lows, down 2. 4 . The s p 500, down 3 . At the end of the day, the nasdaq 100, what a turnaround. Led by the mecca cap faang index. The tech index for the s p 500 up about the same amount. In the morning, it did seem like there were some buyers looking. Apple, up 3 . You saw that stock leading another mega cap higher. Confidence as the day went on. Bonds did not rally all that much. The yen was flat. It was not really risk off this morning as a result. Very interesting, one reason to think that they be the buying think that maybe the buying will continue. Ign, all thesecus stocks started out the day lower. Big gains for those stocks. On thers wanting in stocks up huge amounts on the year, hope there is not more selling pressure ahead. About tiktok. Alk obviously, now you have President Trump suggesting he could renege on his approval of the deal. The Chinese Government saying they are not necessarily going to approve the deal. What were you watching . Abigail uncertainty. More volatility. Oracle has been doing the opposite of the broader markets. In the month of september, very bearish for technology. Since it wasut 10 announced that it was going to go after tiktok. Even prior to the announcement, there was a sense of optimism around oracle. Just the idea that they are trying to get into something new. Larry ellison, the founder, a supporter of President Trump. There may have been a sense that they could do well. Now, all of this uncertainty, unclear who the owner would be of the global entity. President trump saying that if it is a Chinese Company, it is not going to happen. But with this deadline pushed out to sunday or next monday, it is a case of kick the can down the road. In the meantime, oracle shareholders are benefiting. Perhaps more gains ahead. Emily all right. We will dig into what is happening a bit more. Abigail doolittle, thank you so much. Banjo to bring in shelley , who has been pounding the payment the past couple of weeks and over the weekend. A deal that the president approved, now all of that has been cast into doubt. China suggesting that they will not approve the deal. Where do we stand . Shelly there is definitely a lot of political posturing left on this deal. President trump came out over the weekend and said he gave his blessing. When he did that, he basically repeated a lot of things that were not true according to the negotiations, that this kind of to beould allow tiktok majority owned by american investors, that u. S. Investors would control the algorithms and the tech. According to deal terms announced by the companies, that was not true. Bytedance retains 80 ownership with a 20 stake going over to tiktok. Newsd trump goes on fox and says this is not going to happen unless there is majority control by u. S. Investors. I am sure there is a lot of political jockeying going on. A political deal on paper for this to all go through. A third option as abigail alluded to, continuing on with these extensions, then you get to the president ial election. What goes through the deal structure with oracle and stake . Sharing a 20 how does that actually work . On this is aath little bit tricky. The way they are suggesting it will work, a new entity called tiktok global. Bytedance would have 80 ownership. What they would do is raise a brandnew round of fundraising that would allow oracle and walmart up to a 20 stake. Oracle came out and said they are shooting for a 12 5 stake with walmart as the remainder. Other existing investors like sequoia and General Atlantic could also participate. That is because american investors own shares in the company, that would transfer over into the new company. If you do a little bit of fuzzy math, they would become american controlled. That is not really how companies are run. If you are minority stakeholder in the parent company, that does not give you any power or say over the decisions made at that company. Emily meantime, this is having gamingascading companies that work with tencent in the United States. If we see extension after extension for tiktok, what does that mean for concerns the president has voiced about everyone else . Shelly we chat, they are not really trying to create a political solution. Over the weekend, what stopped the ban was a preliminary injunction against the judge injunction by a judge saying this goes against the rights to free speech in the United States. You have lawmakers who want to get a deal with tiktok. With we chat, you dont see the same thing. Support in theny u. S. For any lawmaker trying to salvage that path. The broader outlook could be a lot more dire. Emily talk to us about what is next. Of things, he a lot of uncertainty. As far as the mechanics of the deal, moving through various approval processes at the white house, where do we stand . This will be multiple tracks at the same time. Donald trump needs to find a way to get what he wants, which is the talking point to be able to say that it is american controlled. Largely, the administration has been rallying against this deal. President trump came out himself and said, i put the blessing on this deal. I think a lot coming from trump publicly is a a lot of posturing. At least for now, the administration is behind that. In china on the other hand, it is a similar case. Originally, state media came out kind of supporting the deal somewhat reluctantly. Foreign ministers say we are not really going to talk about this. We dont think it is fair for the u. S. To go after our companies. More daysere will be of political posturing. Theres a lot more nittygritty details to work out, especially among so many players and so many companies. Tiktok, Chinese Government. The terms of the deal. We dont know how much money is going to be raised and who is going to pay for what and how it an ipo ino lift in the next year. Emily meantime there are reports that the founder of instagram is being courted for the tiktok ceo job. The interim ceo has been posting videos on tiktok to the tiktok audience. What is the latest on leadership at the company at the company . Are these reports true . Shelly we have reported that they did reach out to kevin. He has ties to the company. He was on walmarts board for a number of years and he was on facebook at a time when they were leading negotiations around. Ly, the precursor to tiktok. You have to not only deal with all this political posturing and geopolitical tensions, you will have to figure out how to answer to a lot of different kinds of shareholders with competing interests. It is a tall task, i am sure one that will be handled carefully. The interim ceo, vanessa sheouts vanessa pappas, was already passover for the job when they hired the disney executive. It will be interesting to see if she is considered again for this job now that she has heralded the company throughout all of this. Bloomberg up bs Shelly Shelly bloombergs banjo, thank you so much. We will have you back here tomorrow. Public report indicates that quibi is considering options including a possible sale. The company has struggled to sign up subscribers since launch. Sayser Jeffrey Katzenberg it is because of covid19. The company is looking to go public through a merger with an acquisition company. Coming up, microsoft looking to boost its Xbox Gaming Division with a new 7. 5 billion dollars acquisition. Details coming next. This is bloomberg. Making itsosoft is biggest video gaming purchase acquire zenset to ax media,a zenim owner of bethesda, for 7. 5 billion dollars in cash. As criticalontent to our platform. We have game pass growing really fast. We have got consoles. We are going into preorder. Cloud lastnched next week so people can play our games on their mobile phones. Content is foundational to what we do. With this move, we doubled the number of content creators inside xbox. Emily once inside xbox, ultimately will bethesda start making games for xbox and pcs playstation . Phil the collection of bethesda studios will be coming to xbox and xbox game pass. That is a huge commitment from us. In terms of other platforms, i think will make a decision on a casebycase basis. This is a move to show the strong commitment to the Xbox Community that great games are coming. Emily gaming traffic has soared , you now have 15 million subscribers on game pass. Some gamers have been disappointed in some of the gaming offerings. What do the quarters ahead look like . Phil we see gaming as a strong growth category. 3 billion people play video games on the planet. Half the connected world. It is nearly a 200 billion topline business. Both of those numbers growing by double digits. Gaming is just a secular trend in entertainment, people moving from passive to active entertainment. You see kids everywhere playing video games. It is a really strong place for microsoft to make an investment. With the transformations we are seeing in the business. Emily as you say, content is king. So i have to ask you about the tiktok deal. How big a deal is it that microsoft lost the deal . Phil we were pretty public about how that played out. Onont have anything to say how tiktok is working now. When i look at our growth aspirations in the consumer space as microsoft, i think our investments in gaming and reaching communities everywhere will be critical to our longterm success with consumers. Emily the Trump Administration is now pushing u. S. Gaming companies on their ties to tencent. That means fortnite and league of legends, hugely popular on xbox. What is microsofts position in this geopolitical tugofwar . Phil we have taken a longterm approach to gaming. We think people should be able to play the games they want with the community they want to play with on the device they want. That has been central to our strategy. We work with Global Partners to do that and we hope to continue to do that. It is a cornerstone of our strength of reaching over 3 billion gamers on the planet. Emily meantime, there is a Battle Royale between fortnite maker epic games, apple, and google. Xbox has its own situation with apples app store. Do you think apple and google are monopolies like epic says . Phil we think gamers should have access to Services Like game pass cloud streaming. We think that should be available to everyone. We are committed to making that happen. We will continue to work with the large mobile operators. We will work with apple, google, samsung. I think gamers should have choice with the devices they have on the content they get to play. Emily microsoft up bs phil spencer microsofts phil spencer, head of xbox. Kolas chair stepping down amid a probe from the sec. And, a potential game changer . Will this event follow through on musks big plans . All that coming up on bloomberg technology. This is bloomberg. Nikola founder and chair Trevor Milton stepping down today after allegations of fraud and a report that the company is being probed by the sec. Stock down 20 . For more, ed ludlow. What do we know on watch river milton has resigned . Why Trevor Milton has resigned . Ed they want the focus to be on nikola. What has been the case since the short seller report came out, since additional reports came out from agencies investigating those allegations of deception and lies about the technology is that all of the attention has been on trevor. He acts in a way that is unusual at best for a fiduciary at a public company. In the days following that report, trevor took to twitter, instagram, doing live broadcast sand details about his reaction to that short seller report. He stated that he planned to give a complete point by point rebuttal. As time has gone on, investors and wall street analysts have basically said that he needed to be reined in. The companys chief executive officer and ceo have been on ,his Charm Offensive to her peering at different conferences, trying to explain the position. They answered questions about the allegations raised in the report, they said right now we are all focusing on our core technologies. They said, now is the time for execution. Trevor is stepping away to shift the focus back on to what it is that nikola is trying to do. Committed toeems maintaining the big steak that. Hey recently took in nikola. But what happens now . A board member but was one of those key architects of that deal, takes over as chairman of the board. When you read across what wall street analysts have to say, it is that analysts must focus on execution. On paper, nikola has a strong business plan. It has reputable partners in g. M. It plans to begin building the semi truck next year with an experienced and respected truck brand. There are few companies in the world. Then robert bosch when it comes to developing technologies. A lot of the progress that they will make in Regulatory Filings are contingent on them securing further partnerships with other third parties. The question hanging over this, the credibility. Has there credibility been damaged and how long will it take to recover so that they can make progress in the things they want to do . Emily i want to move on to tesla battery day tomorrow. Elon musk tweeting a few minutes ago, perhaps trying to manage expectations, saying, Important Note about tesla battery, this in this affects longterm production. What we announce will not reach serious highvolume production until 2022. He goes on in more detail about how they still will see significant shortages in 2022. What are you expecting . Ed there is lots of excitement about improvement in Battery Technology and performance. It all goes back to the central aim, affordability. They have never been able to theyce the 35,000 ev have promised. The battery pack makes up around 25 to 40 of the manufacturing cost. How can they bring that cost down and make evs accessible to a bigger market . Emily coming up, we will be talking about the passing of Justice Ruth Bader ginsburg. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Emily this is bloomberg technology. Washington and the world still reeling after the death of Supreme CourtJustice Ruth Bader ginsburg. Ginsburg, who became a feminist icon in her later years, passed away friday at the age of 87. President trump said he expects to announce his pick for this report by weeks end, before Justice Ginsburg is even buried. Dick durbin is among the democrats urging republicans to wait until after the election to hold a vote on the next Supreme Court nominee. To discuss, we are joined by the Massachusetts Attorney general maura healy. Justice ginsburg had a dramatic impact on all of our lives, especially the lives of women. To her your reaction passing and what it means for the Supreme Court russian mark for the Supreme Court . Ms. Healy it is a huge loss, it is a huge loss for the court and for all who work in her field. I think about all that she accomplished as a lawyer. We talk a lot about her and she is known, rbg. She became this icon through her role on the Supreme Court. But, one thing i really admire in addition to her work on the Supreme Court was her skill as a lawyer, as a litigator. She herself is the subject of terrible discrimination when she was going to law school. She was subjected to clerkships because she was a woman or rejected at law firms because she was a woman. And systematically the entire body of gender discrimination cases that we rely on today is really remarkable. So, a remarkable life, a remarkable woman. A trail blazer and a huge loss for the country. Obviously, this has set up what is going to be another fierce partisan battle. What do you make of the moves the president is making an Senate Majority leader Mitch Mcconnell is making . The president saying he will have someone chosen by friday. It is the height of hypocrisy. Mitch mcconnell tells merrick mcconnells nomination for a year. Ms. Healey it is laughable to see the statements coming from Certain Senate republicans saying that they will follow what donald trump wants to do and allow him to nominate somebody and have a confirmation process because it is partisan for them. It is a real disturbance and dishonor to the integrity of the rule of law. Frankly, our system of government where to matter your political party, matter how charged the times may be, there are certain things and it is absolutely the case that the next president of the United States should have the opportunity to nominate the next justice of the Supreme Court. And the position that donald trump is taking is not surprising, but certainly disappointing as are some in the senate. Im heartened to see others come forward with the courage principal and conviction and say they are not going to vote and that is really important. Emily should the president have a justice confirmed before he leaves office . How dramatically with that rishi american courts reshape american courts . What impact would that have on