Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, March 6th. I'm Julie Morgan.

Lawmakers are ready to vote this week on a bill that affects Tic-Toc.

Nordstrom is in the red over soft guidance and a jury is ordering Pacific

Court to pay millions more to victims of a wildfire.

Lawmakers are set to vote this week on a bill that would force Tik-Tok to divest from its parent company or face a ban in the US.

Tik-Tock is owned by Chinese company, Bight Dance.

The bill would force the company to divest within 165 days

or face a US ban.

A bipartisan group of lawmakers introduced the legislation seeking to address national

security fears over the popular short video app.

The legislation was introduced by Mike Gallagher, the chair of the

House Select Committee on the Chinese Communist Party, along with more than a

dozen other lawmakers. It is expected to see an initial vote on Thursday.

The measure would empower the president to designate social media apps that pose a national security risk

and have over 1 million annual active users, which could lead to restrictions unless they

sever ties with entities controlled by a foreign adversary.

Gallagher said his message to Tik-Toc is to break up with the Chinese Communist Party or lose access to American

users. Tik-Tok responded by saying the bill is an outright ban and that the legislation will

trample the First Amendment rights of

170 million Americans and deprive 5 million small businesses of a platform

they rely on to grow and create jobs.

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