Than 2 , that would be breaking the streak again today. We are seeing Dollar Strength continued to climb and crude is up 3. 5 on news we expect saudi arabia and russia to try to get together to figure out how to cut back some of that supply. Flipping up the board, i wanted to take a look at the residential market, in particular rates we have been looking at. Ellington Residential Mortgage rate is one i am looking at. It is up 50 verso. It is having its biggest intraday gain ever. It did provide updates on its portfolio and business operations, which is giving investors a relief. They did come out and say they have met all of their margin calls. They lowered they lowered their leverage position to a strong liquidity position. There is a lot of focus on the commercial mortgage and the residential market, how this would fare. Today people are less concerned about the health of the mortgage market. David . News. I like good to what extent is some of the lift we are seeing inequities Short Covering . Is it technical rather than fundamental . Taylor i have heard a lot of that. There has been a lot of concern. Twitter is a gauge of how fired up people are. This is the beginning of a new bull market. 20 from00 is up about the lows on march 23. That would be at a 26 handle or so. We are at 2700 on the s p 500. If we were to close where we are now, it would mean we are up more than 20 from the bottom. As you mentioned, a lot of people have been quick to say is this a fundamental recovery given we know a lot of the bad news is still yet to come. We are waiting for fed meeting minutes. We know the gdp data for the Second Quarter will likely be horrendous. A lot of strategists ive been speaking to our saying by the time you wait for that data, all of the easy gains will have been made already. If you think the market bottoms out when the curve peaks, that could be one theory. A lot of other people saying by then it is too late and youve already lost some of the easy wins in the market. David there is also that issue about more stimulus or spending coming down the pike. They seem to be close to 250 billion, although democrats want more. Is that part of what is giving some support equities . Hearing planse earlier today that you had a strong stimulus plan, they were calling it stimulus 3. 5 or stimulus four. On that news you also had gold prices rise. More policymakers are looking at what to be a 500 billion stimulus this week. That is what the Trump Administration is seeking. Theye European Union, agree on a strategy of how to mitigate the economic crisis. There are more hopes and fears on the stimulus package. You and i talked about how the Small Business association has been under a lot of strain. Small businesses have been urged to go to their local Community Banks. A lot of those loans and Cash Payments have not been paid out yet given all of the redtape in the system. Perhaps this new stimulus measure could be a way to get the money out the door. A lot of the companies needed this weeks ago. David yesterday one of the things we saw was a lift for some of the stocks hit the hardest, things like cruise lines and airlines. Are we seeing any of that today . Taylor 100 . I am so glad we brought that up. Yesterday and all week, the stocks that had been the worst performers in this market rout had been some of the best performers. Retail, Carnival Cruise lines. On the retail side of things, i was looking at nordstrom earlier today. They are up almost 8 or so. These are companies where you think luxuries are getting hit the hardest, why would companies that see fewer people coming into the stores outperforming . They are testing junk bond yield investors with a 10 yield on new debt issuance. You are seeing people in the credit market finally saying we used to never be able to dream of these 10 yields. They are finally getting that. That is what is moving Companies Like nordstrom. Luxury is getting hit harder but after some ofs, the retailers say they were hit the hardest during the market rout. David thank you so very much to taylor riggs. We want to turn to the situation in new york particular with the Hospital System. Governor andrew cuomo has at the hospitals are redlining, at or above capacity. We welcome dr. Steven corwin who heads up the new york presbyterian hospital, 10 hospitals and clinics in the area. It is consistently right the best of new york hospitals. We welcome him. He is the ceo and president of new york presbyterian. You said at one point you thought the apex for new york would be april 15, which would be one week from today. Is that still your best estimate . Thanks for having me on. We are starting to see a little bit of flattening. Our best estimate is still right around that time. And we see am wrong by saturday a real trend in flattening. That would be the first piece of welcome news in a while. I am hopeful. Guy how are the Hospitals Holding up . How is your Hospital Holding up . When you hear it is redlining. 10 you sustain the present level very long. Dr. Corwin our staff has been remarkable. We have redeployed 2000 ,ositions, a thousand nurses 500 general workers. We have gotten 2000 people to volunteer. We have pediatric nurses delivering icu care. We have our chief of dermatology functioning in the emergency room. We have our chief of cardio surgery functioning as an icu doctor. People are going to extraordinary lengths. It is remarkable. How sustainable is it over the long haul . It is not. We think we can pull through this crisis and we are not going to break. David that is very encouraging news. When you talk about redeploying people, youre talking about within new york presbyterian. We are also hearing from Governor Cuomo about reemploying nurses and physicians among different hospitals. Is that working well . Are you giving people other people . Are they giving them to you . Dr. Corwin one of our affiliated institutions hospitals for special surgeries, they assigned a lot of their nurses and physicians. That is an example of volunteerism. You had people from around the country volunteer. We were on the phone yesterday with mark laird from the university of california, san francisco. The response around the country, the american spirit has been remarkable and very heartwarming for me. David do you have a sense of how it is going in new jersey . Our adjacent state seems to be on the way up. Are they asking for help as well . Dr. Corwin i do not know the specifics in new jersey. I know the governor said they were on the way up. What i hope is no state goes through what new york city and its surrounding counties are going through now. I would urge everybody to recognize that the social isolation and stayathome orders have been effective. I know in california they have seen much less in the way of this than us in new york city. I think part of that may have been an earlier application of the stayathome that Governor Newsom did. I hope other states follow suit on that. David that leads us naturally to the next question. We want to be careful about this question because we do not want to declare victory and go back to a battle situation. We are starting to talk about a plan to start reopening some of the economy. How do we make sure we do not revert at the same time we have to go forward . Dr. Corwin that is the milliondollar question. I think the worst thing we can prematurelyto start and then lose the confidence of the American People and have to go back to where we are. Believe me, i recognize the millions of jobs, the recession we most assuredly will enter, whole industries being stopped, the economy basically being stopped as a whole. Isexpectation around this that around the june or july timeframe we will probably do some of that. The way i would look at it from a personal situation in new york city is when i start seeing the decline and the return towards normality, we will be in phase two. Phase one being the upswing. Phase two being we are still living with the virus, but it is more controllable. Phase three, third and fourth quarter, talking about can we get back to a more normal situation . Faucid say that what dr. Said is ultimately where we have to be, which is a vaccine and treatment. The virus will be with us for a while. I hope we do not have a recurrence or a spike in october. You have seen that if you release these things too early, you get another spike and you are back to square one. David as we talk to experts about the possibility of reopening, the thing we hear again and again is testing. We have to know whether we are controlling. Where are we in testing . It appears we are not to the level we need cap of broad testing across the population to come back safely. Dr. Corwin we certainly have enough testing in my Hospital System to test everybody that needs to be tested. We are not at mass population screening with the pcr test. That is one type of testing. The second type of testing is the antibody testing. Were you infected with it and does that confer immunity on you . Still looking at 90 of the population that has probably not been affected by it. The question becomes do you get herd immunity, do we have evidence of that . Infectedre if you get you will not get reinfected . These questions are to be determined. I think your question we need more testing, do you have the virus or not, and we will need to apply the testing to determine what percentage of the population was infected and are we starting to develop herd immunity as a country . David thank you so much for your time. I know you are a busy man. ,hat is dr. Steven corwin president and ceo of new york presbyterian. Coming up, we will talk about Remote Sensing when it comes to covid19 patients. That is coming up on balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. One of the things we need to do is give as much space as possible in the hospitals, maybe have covid19 patients monitored from home. With ahas come up possible solution to the problem. We welcome the ceo, joe kiani. Explain me what your device is and how it works. Pulseur device is Detection Technology that works even when there is patient movement. We have made it into a wearable device that attaches to the wrist like a watch and the sensor goes to the digit and it can accurately measure continuously for four days at a time the oxygen saturation, pulse rate, respiration rate, perfusion, and tbi. And pbi. That information is sent to your smart phone or smart tablet and then from the smartphone or smart tablet through the cloud, it can be sent over to a central monitor, maybe at a hospital or even service that we provide to continuously monitor the patients, both for covid19 and other issues that relate to respiratory problems. Give us a sense of how much it is deployed right now. How much is that device being used for covid19 patients in the hospital or at home . Has been around for 31 years. I founded the company. Over 200 million patients are monitored without Technology Every year. Nine out of the 10 top hospitals in the u. S. Primarily use our technology. We have seen an amazing surge of demand for our products in the traditional settings of hospitals. Then also they are using this device and a couple of different ways. In hospitals to shield the the care providers as much as possible. As you know, every time a care provider has to go to their room to watch the patient or watch the monitor, they require ppe and theyre also putting themselves at risk. Some hospitals are using this technology to put the patient in the room and have the monitoring done outside the room. , we have started a Pilot Program at University Hospital and at st. Lukes. What they are doing is they are sending patients that meet certain criteria for covid19 and other respiratory conditions to home and monitoring them remotely. If they get to a situation where the oxygen is 93 or lower for more than five minutes, these patients are brought in. Right now we are wrapping up that pilot with the successful completion of that pilot, which two other hospitals have now taken part in. We will do a full Market Release of this product called the masimo safety net, hopefully this weekend. David give us a sense of your basic product. It sounds like it should be a lot of demand. Are you having trouble keeping up with demand . What are sales like . Joe we preannounced our numbers because it was so much more than we had projected. We did that april 1 because we knew our suppliers knew what was happening, some of our people in manufacturing, our customers knew what was happening, and we were afraid the general public did not know. We did that. The demand has been tremendous and it has not stopped. We are keeping up. We began worrying about this covid19 becoming a problem for us to manufacturer, so we began to marginalize our manufacturing ularize our manufacturing. We have multiple sites manufacturing our instruments. So far, we do not have any problems in any of our factories. We are able to keep up and we are also building inventory so if we do have any pickups we can go through the inventory while we try to bring up another manufacturing site. Give us the benefit of your expertise in the medical technology area. Go beyond your devices. Obviously we need more testing. We need a variety of testing to bring the country and the economy back. What advice do you have for people in authority about how we can ramp up affective testing so we can start to get back to something that looks more normal . Joe i think you said it. First of all, there are only two ways out of this. Testr a vaccine, or we 100 of our population and those who have covid19 we separate from the rest of the population until they are better so we can be done with this once and for all. To ramp up testing, i think the government needs to do what they have done with the ventilator to get other parties to help those creating those test to increase the volume. You have to test about 400 hoursn people within 24 and you have to isolate them. When you test someone, you send them back to the environment. They may come across someone who has covid19 and now they will get it. For tests are negative covid19 and becomes useless. You have to massively do it or inoculate patients with vaccines, otherwise this will keep going on. David it is too early to decide or discern how this will change our lives for good. In the med tech area, will this transform medical technology . Joe i believe so. I believe covid19 has probably accelerated Remote Monitoring and telehealth by decades because now even elderly people, 65, 70, 80yearold have to learn how to use their phone to be in contact with their caregivers. Deployedeing cities this National Safety net like boston to monitor elderly people just in case they get in trouble so they can get to them rapidly. The other is telehealth is about cardiac. Telehealth is now turning to respiratory. Coronavirus has made it into a respiratory issue. I think that focus will remain and will help our people take better care of themselves. I am so sorry. I will have to jump in. That is joe kiani, the ceo of masimo. At 7 30 tonight, we will have a special with a collection of ceo interviews we have done about how they are coping with the crisis. This is balance of power on Bloomberg Television and radio. Abigail this is bloomberg. I am abigail disney. Time for our stock of the hour disney. Shares are popping higher. Earlier the stock had been down 2. 6 as wells fargo cut the shares of disney from equal weight to overweight on a gloomy outlook for the largest unit, theme parks. If we took at the reasons beyond the the reasons for the downgrade beyond the weakness, they are talking about forecasting no attendance for these parks on the second half. The parks may be 24 months may need 24 months to normalize. Shipped, parks, and movies are all shuttered. This is a big issue. David this is balance of power on Bloomberg Television and radio. I am david westin. For bloomberg first word news, we go to mark crumpton. Mark david, it is all but certain that joe biden will be the democratic candidate for president in november. decision to step aside as a market change from 2015 when he battled until june, just like clinton did with barack obama and 2008. British Prime MinisterBoris Johnson is still hospitalized in intensive care as he battles the coronavirus. The u. K. Treasury chief says johnson has been sitting up in bed and engaging with the clinical team. Reported 930 u. K. More virusrelated deaths today, the deadliest day so far. States, dr. United Anthony Fauci says the start of the turnaround against the coronavirus could come after this week. The Infectious Diseases chief told foxnews now is not the time to pull back from efforts such as social distancing. Dr. Fauci he also said the Trump Administration is discussing how to reopen the economy, but he said that does not mean it will happen right now. New York City Transit workers are being hit hard by the coronavirus. The metropolitan Transit Authority said at least 41 workers have died, and more than 6000 are infected or are in selfquarantine. Three weeks ago, only 23 transit workers had contracted the disease. The New York Times thats transit workers have accused the agency of not responding quick enough to the crisis or to requests for personal protective equipment. Subway ridership is down more than 90 . Global news 24 hours a day, on air and quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. David . Thank you so much, mark. European finance ministers met for over 16 hours remotely yesterday and failed to come up with an agreement on a fiscal package to help the economy. Joining us now is Stephanie Flanders, Senior Executive editor for Bloomberg Economics and also wall street week contributor. How big of a hole are they trying to fill . It is an interesting situation, david, because of course there is a massive hole in the european economy at the moment, and government is trying to do their own bit, but the immediate issue is not what we had in the euro zone crisis, where governments cannot borrow, and they need help to borrow support their economies. They have been able to borrow, and they have been able to do that quite easily. The central bank has been standing behind, saying it will do whatever it takes. The conversation with the European Finance ministers, in a sense, European Finance minister is willing to get in on the act and involve themselves with the rescue of the euros and economy, but there are fundamental things at stake, and there are things they could do to help the country through this. Raisedstephanie, you it the really interesting prospect upe, the ecb is backing them by buying bonds. Why do they need an overall plan . Why cant they lead it up to the countries to leave it up to the countries to figure it out for themselves, as it were . Stephanie you are in the euro zone. You are supposed to be in this together, and it is a Common Threat you are all facing, you should be able to show that working together, you can do more than working separately. So i think politically, they would like to show they are contributing to this effort. That would be for all of the European Union countries to have a loan scheme to help labor markets in different countries. They think that they can help the countries that dont have as great a capacity to borrow, because they have already got high debt like italy. Say, to some extent, it is a political issue, and i think it is also about what kind of eurozone do you want going forward. Do you want the kind that has common funds, common support for countries, and of course that has been a debate right from the beginning. David and stephanie, i wonder if it is different in europe than the United States, because your social net there is so much stronger, in many ways, than the United States. You actually have unemployment support, a lot of countries have universal health care. Maybe the pressures are somewhat different from what we face in the United States, with millions upon millions of people being put out of work. Stephanie it is an observation that some people have made that some features of the european economy that are being criticized all these years, when they have been said to be sclerotic, because they have inflexible labor markets, it is hard to lay people off, and they have these really big welfare states that take up a lot of the economy. Instance,rticular when you want the government to step in and actually be the insurance policy for everyone seen asjust being disappeared, there are some advantages to having those sclerotic systems. How many will lay people off . It may work through this crisis commanded they do lose their jobs, of course, there is more of a safety net to catch them. But i dont think governments are being complacent about that. I mean, they still know that they have to come up with some ideas here that they have not had to do before. Lots of countries have now done, for example, what the u. K. Suggested, which is to guarantee to pay a certain chunk of salaries for companies to stop people being paid off, and i think that could it up being very successive and could play a good role in making sure there is still an economy there, once we decide to switch it back on. One of thehanie, things that people over in the United States like to follow is this suppose a debates, even contest between germany, the northern countries on the one hand, and southern countries such as italy on the other come about corona bonds. Is that an issue or could address the issues in the economy . Stephanie in this case, and why it has been hard for European Finance ministers to agree this week, because particularly the netherlands, which seems to be more like the germans than the germans, what they consider to be overspending, feckless countries to get away with more irresponsible behavior, kind of running up the tab for other countries that are more responsible, like the netherlands or germany, and that has always been an issue. How much are we going to pool our sovereignty when it comes to borrowing money and taking responsibly for that, when we are part of the eurozone . Italy, the italian government, has been arguing to have that kind of euro debt, ekrona pho a corona bond, potentially, to give them more capacity to spend on this, direct, to give eurozone more capacity than italy would not have on its own. Germany is saying, hang on, we have not seen you reduce your debt level. We still think you are pretty risky. We do not particularly want to borrow along with you. So that is a continued debate. It has been right at the heart of the euro zone, never really resolved. But we are perhaps inching a little bit more in that direction with this crisis, because it is such a Common Threat. David hmm. Ok, stephanie, thank you so much for your time, Stephanie Flanders of bloomberg, also, a wall street week contributor. By the way, wall street week will return this weekend. Coming up next, we will have jack lew, former treasury secretary, telling us what we need to do for our economy. This is balance of power, on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. I am david westin. We all know the u. S. Economy is heading for some rough times ahead, and the federal government is doing what it can to help cushion that low. We welcome someone who knows the economy backwards and forward to it served as treasury secretary under president barack obama. He is now a professor at columbia here and he is jack lew. Give us your sense of where the economy is headed to. We know it is going to be a very ugly Second Quarter. Hopes ofve any something rebounding in the second half . Sec. Lew good to be with you, david. We know the economy is taking a very serious hit from this health rises. What we know is the Economic Impact will linger, even after we turned the corner on the health crisis. It is going to take a while, at best, to turn the lights back on, and the government response really needs to be geared at maximizing the chance that we can restart in a smooth way, and that means making sure that people and businesses have what they need during the health crisis, but, frankly, making sure the help does not stop the minute we go out. Businesses are going to need money to pay its payroll. People are not all going to go work. O i think that, you know, when you look at extending the benefits for businesses, it is very important to put more money and during the health crisis, and also, it is already time to start thinking about making sure that when they reopened, they still have the cash flow to support it. For state and local governments, they are going to lose revenue going into next year and even the year behind, and the year beyond, anti hole and the hole is far deeper than last time around. They need more stabilization money and more matching money and medicaid. Individuals are going to need some more assistance, and, frankly, we are going to have to do a better job getting automatic payments to people who work left out the first time, people who were on ssi, people who do not file taxes, legal children, american citizen children of noncitizens, a lot of people were left out, we need to close those gaps, and we need to increase food stamp benefits, because that will make it possible for them to put food on the table. On top of that, we really need to worry about the rising problem of homelessness. People at the worst possible time are going to have no place to live, and there needs to be emergency assistance. On the business side, it is going to take a lot more money. It is also going to require that we find more ways to get flexibility into the program so that we lend to businesses that have not traditionally borrowed money from banks. That is very hard to do if you hold the bank standards that apply in normal times, but these are not normal times. Jack, talk to us about the efforts to really support Small Business right now. Billion and 350 forrts that it is hard some banks to lend the money because some of the antilaundering restrictions. Is that a legitimate reason, some banks are saying we cannot deal with Small Businesses if we dont know then, it is the know your customer rule. Sec. Lew there are multiple levels at which the normal rules have to be modified or suspended. With a federal guarantee, there is no credit risk to the banks, but they still have underwriting risks, potentially, and they still have exposure on things like money laundering. On the underwriting side, if theres any kind of a false statement, that burden has to fall on the business that makes a false statement, and it cannot be with the bank facing afterthefact oversight on that. If we are asking them to rely on certifications, we are not giving them time to look behind the certifications that the businesses make. On the aml side, i think they need to be creative and make a solution. Every business that has a big account has gone through some kind of know your customer process. We need to make sure that any business that has a banking account can use the process they went to, whether it is the bank they are borrowing from or not, to satisfy those requirements. We cant afford, what we cant afford at the end of this, they have failed to loan money to the smallest and most vulnerable businesses, the main street, that dont have a history of bank credit, so when the major banks and even the Community Banks say we are only going to lend do business as we have already lent to, that rules out businesses that are most likely to fail. And i believe deeply in enforcing things like antimoney laundering rules. I am not someone who has ever been casual on this. I think we have to be creative to find a way to get through that hurdle. Jack, theres talk about whether we need to adjust for the Small Business, maybe another 250 billion. Is a time to do that right now, keep the money going out the door, or should we wait and see how it is proceeding and the effect on the economy . Sec. Lew well, i have to say that the whole need for response here is immediate in the sense that we shut the economy down, we need to make sure that these businesses are there when we open it back up. Take too much time to try to get things perfect which is always my preference. I would love to say every i was dotted, every t was crossed, we will look back and regret it, because there are so many Business Values that the length of the recovery is extended, the depth of the recession is deepened, and the number of unemployed lingers at a very level. Half of American Workers are working in Small Businesses, and we need them to be able to go back to work when the Health Conditions permit it. I think time is of the essence. I think the funds that were put in were very helpful, but i did not think it was adequate at the time, when you just look at the number of businesses that are going to need help, so i am not surprised that they are looking at providing some more assistance. What i am trying to add into the thinking process and the comments i am making is when the green light comes to open up, there has to be cash flow to reopen, so there is going to be a need that continues some of this assistance a little longer than the health crisis, just like you need to help people who are on unemployment with extended benefits commands food with extended benefits, and food stamps, s. N. A. P. , as long as the economy is lagging behind because of the health crisis. David jack, whatever more stimulus is done, the government is ou going to have to borrow a lot of money. That means a lot of issuance from u. S. Treasury. Might that change the way issuance is done . For example, might we consider Something Like an altar long bond . Someone has suggested also a war bond, as President Trump has said we are at war with this virus, that has been used in other situations. Sec. Lew i think we need to be open to using the whole yield curve to finance this huge increase in debt in the most efficient way possible. I have never been persuaded that the 50year bond is likely to have the kind of deep market that could be relied on. This feels like a dangerous time to run an experiment on a major scale with a new concept. We have very deep, very well developed markets. We could go long and short, and i think the demand for the u. S. Debt will remain strong in the Global Economy that we are in, as long as it is clear that we are responding to this crisis and that we have the resilience to bounce back. I think the place where i am worried about the financial shortfall being crushing and without federal assistance, will be terrible consequences, is at the state and local level. They operate, many of them, with dow list budget requirements with balanced budget requirements. If they cannot function because of the sales tax revenues being off, the gasoline taxes being off, with taxes being off and delayed, they will start cutting back on vital services, and they will start canceling things like road services, and that will have macroeconomic consequences. Overall, i spent most of my career worrying and ive continue to worry about the longterm sustainable it is our sustainability of our deficit and our debt. We are going to need to spend what it takes to come out of this healthy, where economic will be in the long run greater, and the debt and the deficit will be greater. As far as financing goes, i think we need to be careful, as treasury typically is, in going into markets, to make sure that we maintain the depth and liquidity for what is next ordinarily large increase in federal bonds. An extraordinarily large increase in federal bonds. David thank you so much. That is jack lew, former secretary of the u. S. Treasury. This is bloomberg. Y. This is bloomberg. David this is balance of power on Bloomberg Television and radio. I am david westin. Well, Bernie Sanders, the senator from vermont, has made it official he is now suspending, as he says, his campaign for president. This leaves the room for joe biden, the Presumptive Democratic nominee. We welcome our bloomberg professorr and also a of Political Science at iona college, jeannie sano. Did this surprise you jeanne zaino. Did this surprise you . Prof. Zaino i dont think so. Of course Bernie Sanders is well behind in delegate count, almost, i think, about 300, depending who is counting. And then of course yesterday, we had the wisconsin primary, and while we are not going to get results until monday, the pulling out there looked like wisconsin, a state that bernie 2016, jill biden was going to take, and not just take him about maybe by double digits. That i think was another sign that this last state that Bernie Sanders had really been prepared for and organized in, it was not going to go his way. I think he really saw the writing on the wall. He told his staff today and then supporters as before noon eastern time but he was going to be dropping out, but i think importantly, he is going to try to still have a voice on the platform, which i think is supporters really were hungry to hear. David that is where i was going to ask, i mean, Bernie Sanders consistently has pursued a specific set of policies. Does he have any pull left . Prof. Zaino he does. I mean, he has got, depending on how you count, about 900 delegates, give or take. He said he is going to still keep those delegates, a mass whatever he can going forward, and he is going to use that to exert an influence on the democratic platform. So i think what he is trying to do is bow out recently and acknowledge the writing on the wall but also show his supporters and the movement he has lead that has really changed the trajectory of the Democratic Party, that he is going to try to influence this party and the platform going forward. And acknowledged to Bernie Sanders, he has already had an influence on the Democratic Party. It is much more progressive band when he started. There was a time five years ago when medicare for all was something no mainstream democrat would talk about. This time around, you have many members of the party, many people running for president talking about it. So he has had a huge influence, and i think his supporters want to know that that influence is going to continue. Andy platform of the Democratic Party is important, and i think if the Convention Goes forward, he will have a prominent speaking role there. I think strategically he will have a key role in both the party and the convention, and also, of course, he seemed to have a much better relationship with joe biden than he did with Hillary Clinton for years ago, so i think that is also playing a role here. David fascinating. Hopewisconsin primary, i it is not a harbinger to come. They had to go to the Supreme Court to see if it was going to hold or not. Thank you so much for jeanne zaino, iona college, and a very prominent Bloomberg Contributor here. Coming up, more balance of power on bloomberg radio. We will be joined by the chair of the wisconsin Democratic Party. That is coming up on balance of power on bloomberg radio. Vonnie it is 1 00 p. M. In new york, and 1 00 a. M. In hong kong. Im taylor riggs. Here are the top stories from around the world that we are following. To session surging highs after a rally on tuesday so all of the gains erased and later trading. The s p 500 back in bull market territory after rising 20 off its lows last month. This as confirmed cases of the coronavirus top 400,000 in the u. S. New Research Emerging that the virus might spread not as fast as previously thought. Dr. Anthony fauci saying the start of the turnaround could come after this week. The outlook for Small Business in america, we will talk with the cofounder of Angi Homeservices about the viruss impact on main street. All of those conversations ahead. For a deeper look at the markets, lets take a look at the board i have prepared