Come in the next 30 to 60 minutes but julie hyman is with us now. Julie we are not seeing a lot of activity on the index level, the dow and s p very slightly lower, the nasdaq slightly higher. Some of the winners today, shares up 11. 5 , Quarterly Results beating estimates as did the forecast for the full year in part on the strength of some of it games. That helping the numbers. Match group also doing well. Its early numbers to monetize its tender dating app drove the company to a record dating quarter. , as we round out the game and online activity. Even though the companys numbers missed estimates and it fell in the afterhours session it is bouncing. The Company Announced thing it is buying a turkish game to buy game designer. An analyst said that zyngas thirdquarter results show the company is turning itself around. Consumer staples companies also moving today to the upside. ,ilgrims pride bouncing back reporting numbers above estimates for the third quarter. On its conference call, saying u. S. Demand for all sides sizes of birds is firm. Kroger rising along with its european counterpart. Colgatepalmolive mentioned in the column as a potential takeout candidate. There is talk of takeover of that candidate. There is one big down mover we are watching. It a snap. Snape has been on a wild ride over the past day or so. The afterhours plunging after it came out with dailymbers, came out with users that missed estimates and revenue that missed estimates. Then shares rebounded this morning too little change after tencent said it bought about a 12 stake in the company. Now you can see the shares are back down again, falling by more than 10 near the lows. Piper jaffray noting that tencent had been an investor in snapchat since it series b funding round and it should not be taken as a new interest in the company. That hope with the stake fading away. Vonnie so much more fun if it was called . 50 been tencent. Julie hyman, thank you for that. Shery President Trump arriving in china with a lofty agenda. The white house is hoping to come home with wins on everything from the trade deficit to reining in north korea. What should we expect when the worlds to most powerful come to the table . We are joined by a white house editor alex wayne from washington. We have already heard of deals worth 9 billion. What other concessions could we expect from this visit . Alex trump is hoping to come home with about 250 billion worth of deals but let me add and asterix. These deals are expected to be in the forms of member memorandums of understanding, not exactly contracts. It will be an interesting experiment to look back and see how many deals materialize. Vonnie talk a little more about ,hat is coming out from axios that the senate is talking about not releasing the tax bill on their end. Alex that is a little bit out of my daily wake, but i can speculate that republicans are still having a little trouble coming to an agreement on some pretty thorny issues like the state and local Tax Deduction and adoption tax credit that republicans in the house proposed eliminating. The ability to deduct medical expenses exceeding i believe 10 of income. These are all real hits to the middle class if republicans actually include them in their tax bill and it is not clear they will be offset by some of the provisions such as doubling the standard deduction. Shery given everything that is happening at home, President Trumps Approval Ratings are at an alltime low although we are seeing president xi jinping growing more powerful after the party congress. How will these dynamics affect what President Trump can actually achieve in asia . Alex the white house has pushed back on the idea that President Trump is in a weaker position but it does seem unavoidable to respect conclusion that he is in fact weaker. Last nights Election Results do not help that perception perception. Trump was trounced in virginia, new jersey, and elsewhere. There is nothing republicans can point to as promising. Xi has managed to concentrate power in china in his hands. There is talk he is the most powerful chinese are mere in a couple of decades. Premier in a couple of decades. Vonnie it does not hurt that the president s away while it happened although he has been tweeting about it, but what will the lesson be for the gop . Alex i think the lesson for the gop is be afraid, be very afraid in 2018. If they continue to not accomplish anything in congress and if the president continues votersnate most american , they are in for a rough time in the midterms. Shery alex wayne, thank you so much for joining us. Vonnie lets check in on the first word news, Mark Crumpton is with us. Mark a federal judge issued a gag order in the Paul Manafort case. Indicteds deputy work for monday laundering and other crimes stemming from the investigation into the russian influence in last years election. The judge barred all parties for making statements that might prejudice the jury. Saudi arabia is trying to ease Global Investors concerns. They havement says only frozen the Bank Accounts of individuals and not the companies they own or manage. They arrested a number of government ministers and businessmen. The state department has announced new restrictions on u. S. Travel and business with cuba. 83 hotels will be placed on the list, prohibiting americans from engaging in business with them. Are also eliminating individual exchanges allowed under the obama administration. Eeled administration the u. S. Is also making changes to its export Licensing Program that will steer Economic Activity away from the cuban government and toward the private sector. Argentinas president Mauricio Macri he wants job growth to come from the private sector and not the government. He spoke with bloomberg television. It would be a more efficient private sector because all the should create jobs in the private sector, and we should freeze the jobs in the private sector. I think this is one of the basic commitments we are going to achieve with the governors. Said president Macri Argentina learned from its mistakes and is committed to Economic Growth through private investment. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. I am Mark Crumpton. This is bloomberg. Vonnie thank you. Could bead, apple betting on augmented reality for its next big bet. They are setting to just wrapping up ramping up work on an ar headset. This is bloomberg. Shery welcome back. This is bloomberg markets. I am shery ahn. Vonnie i am vonnie quinn. Shery the iphone x is just making its way into the hands of eager users but the tech giant may be aiming to have the technology for an augmented reality headset in place by 2019. They want to go beyond the headsets available now. Here with his exclusive scoop is mark berman joining us from San Francisco. Product behis ar different from the Virtual Reality headsets out there . Mark the way ar works is it is all encompassing. In could be in your office, the living room on your couch. The difference with ar, it augments the real world with what you can see. For example, i could be looking at you wearing ar glasses and it would pull up your contact card and tell me all about you. It gives you information that can help you in your daytoday life. Vonnie how is it more attractive . Why is apple pouring money into this as opposed to Virtual Reality . Mark it is more mainstream. They want products people will line up for. Vr is very focused on specific applications, perhaps in the medical field or video gaming, but ar has so many more applications and the device can be used across your day whereas vr is really specialized. Vonnie what are the details we can glean about this mark this product . What kind of price point would apple be hoping for . How much would it have to be able to do for apple to release it . Way they are going about developing this product is the same way they went about developing the iphone, the apple watch. They set up a Multidisciplinary Team of people from the Technology Field of augmented reality, Virtual Reality, people who work on the original iphone and apple watch. A software team, hardware team, and a team to explore Something Like an app store. How much will it cost . It is still too been early to know. Technology tong the market for ar at thousands of dollars, but the cost they want to hit is probably something more affordable, maybe around the cost of an iphone. Shery apple also wants to make this easier for developers to bring new ar features to the iphone. What is apple doing in the meantime . Mark earlier this year they launched a feature called ar kit for iphones and ipads and it allows people to install ar games and applications. You can go to the app store and download ar apps. Is theyrere doing going to come out with the 2. 0 version next year for what we presume will be called ios 12. It would have multiplayer collaborative environment so you could play an ar race card game from here and you could be in new york and we can have our cars next to each other. Also, a persistent tracking feature which would allow the ar to load up more quickly than today. These are big improvements and google says they are working on these. It will be good to see apple matching what google says it already has in the works next year. Vonnie google and its Android Phone are trying to compete. Are there other competitors . Mark absolutely. All of the big players are looking into ar nvr. Even oculus, that will not be the only longterm thing they are working on. They will have to move into ar themselves. The company is working on ar glasses, a public company. Google is working on glasses. It had cooled technology with interesting applications. They are working on an enterprise, business focused version. Because of the high price point it is not geared for consumers but they feel medical environments or construction workers would want to wear the google glass for business. Apple will likely take that consumer approach as opposed to the business approach that google is taking. Shery apple still has no headset so it is cooperating with other businesses. What are the cooperation projects at play now . Mark because the consumer headset is not ready for testing apples operating system on the they are using vr headsets from htc. It is widely regarded as one of the best, most powerful vr headsets on the market. They made prototypes. First iphone came out they used mac screens to project. To test their ar environments they are using the competition the our headsets right now. They are also working on an intermediate device that is sort of an iphone connected device where you can use it as the screen and the camera and sensors. They will continue the testing into 2018 and hope to hope hope to have the technology by 2019. We are told that is an extraordinarily aggressive timeline. That is the current plan, what they are aiming for. Vonnie what is the technology that starts going obsolete or can they exist sidebyside . I think vr will have a place alongside ar. The are much better for videogame experiences. , ar is as apple has said the more consumer play because it has more applications. Or people will where it. You will not walk around your office or your home wearing an allencompassing oculus or htc vibe. You might want to wear something about the size of reading glasses that can show you your real world plus augment information on top of it. Shery with any new invite device, it is always an issue of will the battery last. How challenging is this . Mark in addition to the ar lenses theres also the battery factor. If the thing only lasts an hour or two it is pointless because you will have to keep charging it. I think they want battery life that last most of the day, Something Like an apple watch. You have to charge it every night and it has been that way since the first watch was announced in 2014. I would be surprised if they are shooting for anything less with the ar glasses. The ar pods, that is five hours and constant recharging with the case. It would be interesting to see what apples play would be, whether they have a glasses charging case. Sometimes they like to Bring Technology into the past and reference old designs so a charge thee that can glasses themselves, that can be an interesting play down the road. Of 2017, aboutnd three years away from their showing their cards so hopefully we will know closer to then. Shery it will be interesting to know what happens. Congratulations on your scoop. So what does big tech think about the republican tax industryhow can the navigate its relationship with President Donald Trump . Emily chang is in San Francisco talking with a guest who has special windows into that world. Emily Steve Ballmer of the bomber group, former ceo of microsoft joining us from l. A. You are one of microsofts biggest shareholders and you know the facts about the United States. I want to start with tax reform and the plan that has been put forward so far. What is your take . Steve a couple of things. What we are trying to do is make sure that the people can take a look at the plan in the context of history, that is important. Number two, ask what are the goals of this plan . We want to be able to through the data, hold the government accountable for achieving the goal. Is it to approve dish improved standard of living and for who . Is the goal to make businesses more effective . Borrow from our future . In my own case, i am partisan on a few issues. I do believe in balancing the budget. Will we achieve that or will we not . Will jobs grow or not to support that . I care a lot about opportunities for kids that are born in tough situations. I got to say, i wish there was a little more in the plan from a tax perspective to support those low income kids. Shery lets talk about microsoft, you are one of the largest shareholders. Would you like to see a provision whereby companies when they repatriate cash, have to invested in jobs, higher more people in the United States or invest 10 in r d . Steve i think that simplifying the tax code on companies with foreign earnings is important. I think letting u. S. Companies be competitive internationally and i am speaking as a former ceo i think those things are important. Society does have to decide whether those things will accrue to the benefit of people who own shares or whether somehow people who own shares wind up redistributing some of that tax gain to other people in society. Either through the kind of requirements that you talked about for reinvestment in r d in new jobs, or simply by other forms increasing the taxes on shareholders as opposed to the taxes on corporations, to be revenue and income neutral so that shareholders do not necessarily see a windfall. Microsoft has a huge operation and puerto rico. There would be a 25 tax. It would not be good for microsoft or apple. How concerned are you . Steve well, i am not concerned about it at all. I think in the longrun, this notion of becoming more competitive and more consistent with global tax standards will be a very good thing. Andanies like microsoft apple away to their shareholders to do the best job that they can to optimize taxes in the context of the tax code. These companies, including my former company microsoft, have done that. I think just my quick read is there is not likely to be much processce in terms of deployment of products available for shareholders. Have seen them testifying before congress and you and i you suggested there is not a lot that these country that companies can do. Are you more or less concerned hearing the testimony, given that a lot of these companies were unprepared for the questions . Steve let me correct you. I said these companies will never be able to get to ground zero and eliminate this notion of fake news. And they do better . Of course they can do better, but it is a statistical gain. ,ow much of this alternate fact fake news thing can they screen . The thing that i would say is worth pushing from a government perspective is this notion of being better and having a way to characterize what it means to be better, and the set of standards to which the companies can be held. That is very hard to do. The bully pulpit of government may be the best way to get there and the hearings you talk about put companies on the hot seat in terms of what they are going to do to ensure integrity in what people consume on their site. By the end of the day, they are open. People can say what they want to say. Random american citizens in addition to sort of bad actors from outside the United States. , former ceo ballmer of microsoft joining us from l. A. Always great to have you with us. Fantastic interview, thank you to emily chang of bloomberg news. Coming up next, we have the debut of a new weekly show, bloomberg etf iq. It is anchored by scarlet fu. Etf iq next. Lets bring you to a market check. You can see there is very little on the surface moving with the major indices. The dow is down four points, the s p is barely changed. Individual stocks moving quite a lot. 10 spread is back above 60 basis points and wti crude is headed for 58 a barrel. This is bloomberg. Who knew that phones would start doing everything . Entertaining us, getting us back on track, and finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Or a little internet machine . 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