Is the security of america at risk . And covid continues to peek across the country, once again shutting new york city Public Schools down. With vaccines on the way but still not quite ready, we speak to 23andme ceo Anne Wojcicki. Could their research on genes and covid give us more clues on how to fight it faster . Dropping asstocks fresh resections put in place to limit the spread of covid19 overshadowed positive news. About vaccine develop at Abigail Doolittle has more. Generally the markets were quieter today, but then it fell off late in the day. Abigail truly a sleeper for much of the day. Cyclical rotation trying to take over. As new york city headlines crossed on top of the mta news around the subway. Earlier today, two negative headlines. Of course the second one being that schools are shutting tomorrow until at least after thanksgiving on the 3 seven day rolling Positivity Rate here in new york city, at least according to the mayors office. Looks like the governor may have had a different number. In any case, schools are shutting. In addition, Governor Cuomo earlier was talking about the possibility of the orange designation at some point in the near future if that 3 rate really is hits. That would mean the likes of restaurants and gyms close. Initially stocks wavered and then you can see a pretty decent selloff at the end of the day. The worst day for the dow. We usually do not look at the dow but this was hit the most in about three weeks. So investors really taking this virus seriously. The first time i can remember over the last couple weeks if not months where it seemed there was a connection between investors and a somewhat bleak reality. As for the day on the stayathome trade, earlier during that sleepy trading, the stayathome trade was not doing much. But take a look at xoom and pelton. Both of those have been down. Right when the near city news came out they shot higher. Day. Having their best interesting, take a look at amazon and apple. Amazon finished down. That does not make a lot of sense. But the true stayathome stocks, zoom and pallet on, a nice rally on that new York City School closure news. Emily interesting. Wonder if apple has something to do with them reducing fees for developers. We are going to talk about that in a moment. I do want to hit nvidia shares down after the Company Reported results. But results exceeding expectations. What do you see . Abigail options suggested this stock would move in a big way, more than 5 up or down after the earnings came out. That has clearly not happened. Down more than a has been at any other point during the session. They put up a solid quarter. They beat earnings and sales estimates. Adjusted earnings by 13 . They put up more than 4. 7 billion in revenue, beating by 6. 9 . That is great. The forecast was also terrific in terms of pc and gaming demand. The gaming unit was good. This could be a case where too f ar, too fast. The stock was up more than 130 on the year, so investors may have wanted even more of a beat. But we have to let investors sift through a little more. Where we have true certainty, i know you know, tesla up for a second day. The stock was basically already in a bull market, but up 19 in two days. When you make a move of 20 in any time period, that is basically a bull market move. So a bull market move on top of a bull market. The company is being included in the s p 500 on december 21. Buy it, they are. So are some other investors out in the world. This positive momentum may thatnue for tesla on inclusion for the s p 500. Emily always nice to hear about tesla to spice things up. Abigail doolittle, thank you so much. I want to talk about apple now, and halfpp store fees for the vast majority. For more want to bring in mark gurman who covers apple. This is pretty dramatic. It impacts the vast majority of developers out there. How Many Developers are we talking about, and what does this mean for them in terms of materially boosting their revenue . Mark thank you for having me. Like you said, this is the biggest change to the App Store Fee structure since the store lost about 12 years ago. This applies to developers who offer paid apps and in app is about and this 90 of developers, accounting for about 40 of App Store Revenues for apple. Emily that said, some of the biggest critics, epic, spotify, are still not happy about this. In fact they say it underscores the arbitrary nature that they see apples app store being involved. An epic spokesperson saying this would be something to celebrate were it not a calculated move by apple to divide app creators and preserve their monopoly on stores, again breaking the promise of treating all developers equally. Spotify saying the latest move proves their moves are arbitrary and capricious. We hope arbitrators will ignore apples windowdressing and the urgency to protect Consumer Choice and ensure fair competition. What do you make of that . Mark i think there are two things going on there with the responses. One, they are not happy that this move does not apply to them. Change reduction or a on the fee is only applicable to generated 1 million or less in the prior calendar year. So that would obviously not impact spotify or epic. At the same time, im not sure what spotify is still completing about. Even if they have actually been circumventing apples App Store Fees for years. You cannot sign up for spotify inside of their app. Epic games, as you know during this lawsuit, they pay nothing to apple either. So this is not really something that applies to them, necessarily. In terms of windowdressing that spotify is talking about, this is something i do agree with. Apple is saying this is in response to the covid19 pandemic impacting Small Businesses and small developers. And i know several developers who have had their revenues fall because of covid19, but i think that regulatory scrutiny and other issues that apple has over its app store practices is a big reason for this change as well. To be is this going enough to appease regulators as the antitrust scrutiny continues . Will regulators see this and say, ok, this makes us feel better, or is it not enough . Mark maybe some. I think the voices inside the ears of the regulators and governments, Companies Like you mentioned, epic, spotify, they are going to continue harping on this. Because this fee reduction does not change the fact that there are a lot of developers still complaining about their apps being rejected due to inconsistent rules, rejections they disagree with, apple competing with developers on their same platform and not having to pay that 30 cut to anyone. So this fee reduction will go a long way to buy apple some goodwill perhaps with some regulators and small app developers, but i think it does not change the larger story. Emily that said, the folks on apples side, including Many Developers, recognize apple has created this incredible infrastructure that enables these developers to get out to the wider world. How much of a hit will apple actually take on revenue here, given that this is impacting the vast majority of developers, but those developers do not make more than 1 million a year . Mark i certainly agree with you. Obviouslyprovides provides this thing in which they would not even exist. Estimates sohree far today on what the impact will be. Ive seen an estimate of apple losing 1. 6 billion in annual revenue. All the estimates come down to apple losing less than 1 of annual revenue. So it is not really going to have a Material Impact on the company as far as i can see. Emily all right. Mark gurman, thank you was always for breaking it down for us. Coming up, President Trump fires the Homeland Security official after contradicting his unfounded claim about election fraud. Will talk about the severity of the allegation and the security surrounding the rigged, if it was all like the president says. This is bloomberg. S bloomberg. Homeland security official Christopher Krebs publicly contradicted President Trumps unfounded claims about widespread election fraud. Last night, those remarks cost him his job. The president tweeted he had fired krebs over what he called highly inaccurate comments. Called the past election the most secure ever. Joining us is kiersten todt. Important this is an job that chris krebs was doing. Are you worried at all for American Security at this moment, not having a director of cyber and infrastructure security . Kiersten thank you for having me. The short answer is no, i am not worried, and that is because of the work that chris krebs has done over the last two years. This cybersecurity and Infrastructure Security Agency just came into being in 2018. And chris and his team spent the past two years ensuring the security of this election and future elections, securing infrastructure across the nation. Because of that work, the team in place now is very much prepared to address handling government. We have continuity of operations in government. That is what Good Government does and that is a testament to the leadership of chris krebs, to his deputy and the team. So while it is unfortunate, it is an irresponsible act on the part of this president to have fired him, i am not concerned about the security of the nation. Emily the president of course doing this via tweet, again claiming election fraud, and that what chris krebs has said in the past about Election Security is quote, highly inaccurate. Krebs actually responding on twitter as well, saying i never claimed there was not fraud in the election. It is a Law Enforcement matter. We did provide measures Law Enforcement uses to detect dead voters. Dont buy it and think twice before sharing. What do you think this says at all about the integrity of the election . Kiersten i think based on what we have heard across multiple jurisdictions, we have 10,000 voting jurisdictions in this country. State and local officials from both parties have all come forward to validate the integrity of the election. And there is no reason to doubt all of those voices who were on the ground securing the integrity. And that was one of the key focus points. And it was an impressive election from the perspective of National Security when you think of all the threats that we know were and are coming at us. But there is no reason to believe anything other than all of the people that are on the ground, the government officials, state and local jurisdictions who have all validated the integrity of this election. Wide bipartisan support. As we head into the next administration, how do you think the biden team will be looking at this, and what should they be doing to plan for their own transition . Kiersten it is a great question because cybersecurity is evolving so much. I was working in the senate in 2001 and worked on legislation to create the department of Homeland Security. So i have seen its growth and evolution, and where we are now is we have gone through serious progress. The last four years, led by chris from an infrastructure perspective, we have made a lot of progress. Now we have to continue to look forward. The priorities are the same. We have to look at how we build a safe and secure digital infrastructure. We have to examine how we can deter and prevent nationstate activity and threats against our infrastructure. And we have to work with businesses of all sizes to stay secure and combat cybercrime. So, this administration that is coming, this Biden Administration and the transition team, needs to grow upon the successes of the past. And has to absolutely have a diverse workforce. In its diversity of opinion, perspective, race, gender, culture. Cybersecurity is about creating solutions and problem solving. And the best way to do that is to ensure we have diversity of voices and represent the new and emerging voices we are seeing in this space. Ebs has been quite humorous about this situation on twitter, saying he will now reintroduce himself to his family, watch sports and ride bikes. Do you think biden should consider rehiring him for his administration . Kiersten i think president elect biden has a lot of people around him who have worked in government in the past who are from industry. Again, we want to make sure that as we look forward we are going to bring in a workforce that will take the successes that have been built, take the successes that chris has achieved and built upon them. I expect president elect biden to look at chris during the transition because that is how Good Government works. We work off of the successes of the past to build forward. Emily at this moment, what do you think the biggest Cyber Threats are that bidens team needs to be worried about . Obviously you know the relationship with china is incredibly frosty and tensions have escalated. Situation with some other countries out there, and certainly the Trump Administration has not done the best job at maintaining our relationship with traditional u. S. Allies. What do you think should be priority number one on the cyber front for bidens team . Kiersten it is a twopronged priority number one. We have to look at how we are working internationally. We have to get rid of the america first, america only approach, and reach out and repair the International Relationship that has been hurt the last four years. When we look at cybersecurity, we cannot do this on our own. We have to do it in collaboration with likeminded economic nations. We have to build a coalition of the willing to build a safe and secure digital infrastructure. So there is the international piece. On the domestic side, the current threat that is much more serious than we continue to acknowledge is ransomware, because that is affecting businesses of all sizes. When we look at the interdependencies of Global Supply chains, Small Businesses are the most vulnerable. So we have to continue the work underway to help Small Businesses be more secure so that these global value chains can do better work. With the cyber readiness institute, we have worked closely with chris on his team for helping Small Businesses and i hope that work continues in the coming years. Emily all right. Kiersten todt, managing director at the cyber readiness institute, thank you so much for joining us. Very interested to see where you see priorities on the road ahead. Want to bring you breaking news now. The senate is setting up to leave for recess without having voted on the nomination to the fed board of governors. Her nomination has been left in limbo as the senate prepares to leave for the thanksgiving holiday. Senate Majority Leader Mitch Mcconnell has been facing the absence of two key gop members, but has scheduled no more votes for the week as a result of that. We will continue to follow that, President Trumps controversial nominee, confirmed once the Senate Returns december 30. Still ahead, scientists and pharmaceutical companies are on a fastpaced hunt for tools to control the pandemic. Their efforts are paying off. A ceo weighs in. This is bloomberg. Is bloomberg. Another encouraging breakthrough in the fight against covid19. Pfizer and bion tech announcing a vaccine that is 95 effective in Clinical Trial and will now apply for emergency youth use operation in the u. S. The biotech ceo spoke earlier with bloomberg from germany. Take a listen. Will submithat we our documents on friday to the fda. We are already in submission. We have submission to the european regulators. But this is an ongoing process. Congratulations. This is obviously great news for everyone. We want as many vaccines as possible. How do we know if the vaccine prevents asymptomatic transmission . We do not have that information yet. We have the information about how the vaccine presents prevents disease. But we have indicators the vaccine should be able to prevent infection, since one of the components of the immune system that we are activating the vaccine is the neutralizing antibodies. We know that our vaccine induces some neutralizing antibodies. Thiswhen no one could prevent infection. We are going to collect indirect data showing how well the prevention of infections, but this will require a few months. Are you going to get a t cell response . Will there be a longterm effect . Because the antibody response obviously fades. Will there be a t cell response . Will the body have longterm memory of how to deal with this virus . We have created evidence for that. The t cellsyzed from subjects who have been vaccinated, before and after vaccination. And what we observed is that weeks, the four vaccinated people have really strong t cell responses. We see two types of t cell responses. [indiscernible] is an extremely important finding. The finding shows us that the t cell response we are observing is even higher than the t cell response observed after disease. We know from other virus infections that the t cells can last for many years. So we now have one component of the immune system which is better stability than the antibody response. Ceo. bion tech has found 23andme that africanamericans are disproportionately more likely to be hospitalized for covid19, even when controlling for certain socioeconomic factors. But the question remains, why . We hear from ceo Anne Wojcicki next about their covid19 research and where it stands. Also their work to conduct blood type to covid. This is bloomberg. Is is bloomberg. Emily welcome back to bloomberg technology. While the u. S. And coun