Of apple and microsoft, highgrowth names that have strong balance sheets. We are seeing continued investor preference for the stocks. Apple and microsoft hit fresh records. Amazon did earlier today. It is now lower. 4 on news of the results of walmart plus, its rival to compete with amazon prime. Longerterm, all of these have widely outperform the Broader Market and have contributed the largest chunk on a points basis to the gains we have seen so far and theyre holding us up in todays session. Just what we need is one more streaming service. Do you have a sense of how much this might be attributable to the strength of the dollar. There is a straight theres a perception some countries in europe and asia are doing a better job than we are on covid19. Kailey the dollar has been flat. It has been an interesting risk proxy. Your point about europe and china and the outperformance we have seen in those markets as they are interpreted as having a superior response to the virus , china ands. Has had europe do not have big tech. A lot of what has contributed to equity exceptionalism is the fact that tech names make up more than a quarter of the s p 500. If that is where investors are they have to be in u. S. Big tech names. David thank you kailey leinz for that report. We cannot gets too far from covid19. Plays sing in those in most places it raises questions about the cause of the rise and how concerned we should be. For answers we welcome the professor of medicine at stanford university. Lets start with the basic question. Maybe the cases are going up at an alarming rate, but the deaths are not going up. Should that give us some comfort . It should give us some comfort because it points to two news, that are not good but not bad news. The cases are going up because there were protests and also lockdown fatigue, people have been moving around despite lockdown orders. Older populations dying from the disease, we seem to be doing a better job of protecting them from getting the disease. When a younger person gets the disease, they died a much lower rate than when an older person gets it. David are we improving the treatment . Is that helping to keep more people alive who contracted the disease . Dr. Bhattacharya we have learned a lot in the last few months. There is no cure and there is no vaccine. For people who have been treated in the hospital, we are better at using things like steroid therapy, ventilators, new technologies like oxygenation, which is a way to provide oxygen without ventilation. Expensive, but potentially effective. I think we have learned a lot about patients and we are doing better at it. Vaccine,u mentioned and everybodys hoping for the vaccine sooner rather than later. We heard from dr. Fauci yesterday who was cautious and said if we get a vaccine, do not count on it being like the measles vaccine. It may be more complicated. You agree with that or is that a surprise to you . Dr. Bhattacharya i think that caution is warranted. We do not have a Coronavirus Vaccine for any of the other coronavirus is. It is a difficult technical challenge and we are trying in real time to discover brandnew things. If it works, i will look at the data and i will i have to take it. If it does not work, and we do not know, it is a gamble. David why is it that it appears other countries are doing a better job than we are . People point to china and also europe. Italy in places like that had terrible situations with the virus yet they seem to have done better than we are. Is that a fair comparison, and if it is, why are we lagging . Dr. Bhattacharya first china and europe went through the epidemic earlier than we did. They are in a later stage of the epidemic than we are. If we are where they are in a month, everyone will say we are doing a good job. It is a long run question, not an intermediate or short run question about how well countries did. China, therea and are questions about whether the same exact virus there is literature that suggests there were viral mutations that made have higher infectiousness that infected europe and the u. S. Then asia. It is still unclear, the sciences out on why some countries did better than others. David one of the thing a lot of americans are looking at is school, School Reopening in the fall whether it is Higher Education like stanford or Public Schools. Birxlked to deborah about what we could do to keep school safe. This is what she told bloomberg. We have to bring testing into the schools as well as creating a healthy environment and working together at the state and local level to learn from each other on how we are putting the child at the center and meeting their needs we are able to create the safe environment for the families, the teachers, and the children. For safe environment certainly sounds good. Is that doable is a practical matter . What would that take is a safe environment for schools . Dr. Bhattacharya other countries have started to reopen their schools, partly on the strength of Scientific Evidence that suggests children are more likely to pass on the virus to adults when they get it. Kids face much lower risk from the virus. It is not just doable but absolutely vital. Our childrens education is not just our childrens education, it is their future. We need to develop ways we do not rob them of something well them, which is a good education. As far as safe schools, i think testing teachers and kids is a good idea. I think thinking of ways to maintain social distancing is a good idea. Masks will be tough in primary schools. They loseildren their jackets all of the time. They lose their masks in school, that will be more difficult. We are innovative and creative and throughout the country people will discover new ways of keeping people safe and keeping kids safe and teachers save as we reopen the schools. Stanford announced its plans for the fall. We heard from harvard and princeton they will have severe restrictions and capacity. People will come back but not all of the same time and they will not be there the same time. Dr. Bhattacharya stanford has less restrictive plans than what harvard is doing. Havingds plans involve two out of the four classes on campus every quarter. Many of the classes, the onliney of them will be or through videoconferencing, but there will be some in person classes. Personally i think lab classes will be impossible to run unless youre there in person. There is a mixed. We will think of innovative ways to protect our kids while giving the kids the education they deserve. Avid whether this is continuing first wave coming up again in the United States right now or we are in a second wave in the fall when the flu season comes around, how are hospital set up for this . They were hit hard in march and april. Are we in a better position to deal with the second wave or a continuation of the first wave . Dr. Bhattacharya this is something ive worried a lot about. The first wave, what happened was many hospitals were shut n and empty while waiting is not new york, but most of the countries, and that created financial pressure. The hope is we can keep the Hospital Systems going that faces financial pressure from being empty, so when the second wave hits, i might even called a ,hird wave, when that wave hits hospitals are working and functioning. In some ways we are better at expanding capacity. I worry about places like arizona and houston and to some extent l. A. , where we are seeing big surgeries and hospitalizations. Im not seeing evidence as yet of the kind of overwhelming we saw. We are not seeing expansions in infections that occur in hospitals indicative of a system being overwhelmed. I think patients are getting care. There are hotspots we need to be wary of and make sure we provide support to. David thank you so very much. ,hat is dr. Bhattacharya professor of medicine at stanford university. Coming up, we will talk to Lieutenant Governor of the state of new york about what we are doing to make sure we do not backslide. That is coming up next on balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Time for first word news. Go to Mark Crumpton mark we go to Mark Crumpton. Mark the president of brazil has tested positive for coronavirus. The president told cnn brazil he is taking hydroxychloroquine and is feeling fine. The 65yearold president moved during his campaign to reopen the economy and call the virus a little flu and has repeatedly disobeyed medical recommendations to avoid contamination, mingling with crowds and giving handshakes. Brazil has become a global hotspot for the virus, second only to the United States in cases and deaths. Hong kong is seeing its biggest number of coronavirus cases in nearly three months, stumping local health officials. There are only nine new cases, but it is a setback for hong kong, a city that had succeeded in containing the virus for month. New cases come two weeks after the governments latest easing of social distancing restrictions. Congress house wants to pass another stimulus package by the first week of august before lawmakers head home for their annual summer recess. That is according to Vice President pences chief of staff , who also tells bloomberg the president wants to keep the cost to 1 trillion or less. Viewssays the president global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Crumpton. This is bloomberg. David . David thank you so much. Lieutenant governor kathy hogle of new york has been at the center of efforts to turn back the tide of the beginning. We welcome her back to balance of power. Welcome, Lieutenant Governor. You have done it with Governor Cuomo and the rest of the team. They have not gone altogether, but it is certainly holding down. At the same time, it is coming up not just in the southwest but in new jersey. What can we make sure we do so we do not go back to battle days . To the bad old days. Lt. Gov. Hochul thank you for being thank you for having me on the show. The bad old days was a trip to hell and back and we do not want to be there again. The governor has talked about how we climbed the mountain, and the last thing we want to do is turn that into a Mountain Range where we have to go up again. What we can do . We have been on a thoughtful path to slowly reopen the economy based on the Health Metrics of each of the regions. We have identified the fact there are many parts of new york state that could reopen. Endured dining and Many Services provided outside it is a risk we do not want to take. We will continue following the science and the data and the experts in not making decisions based on emotion or politics or whatever you want to do and say lets reopen. We respect that. That is why new york has been successful, plus we have the travel quarantine of 19 states because we have to protect new yorkers. They have sacrificed too long and hard to have any reversal of our position now. It is risky. It is a risky situation. We still feel vulnerable and will protect the progress we have made. David lets talk about that quarantine. In new jersey they reported they rve gone up above one on that number. The claim is that is happening because people are coming from hotspots outside of new jersey. How can new york enforce that quarantine against all of those states where there are hotspots . We hear anecdotal stories about people from florida, south carolina, arizona. Lt. Gov. Hochul what you have is a situation where many new yorkers have homes in warmer climates and start making the return from arizona and florida in may or june, they may have stayed longer this year. Even in rural parts of new york state, ive been managing the reopening around the buffalo area. Large communities that have no case whatsoever. It turns out the snowbirds brought it back from florida. It is a complicated response to try to manage this. We are identifying people flying in from the states, letting them know the warnings. They are aware of the responsible to quarantine for two weeks upon arrival. I think there is a lot of Self Reporting people who understand our rules, but there are neighbors who will be saying my neighbors back from florida and im seeing them in the grocery store. We asked for our local authorities to be involved. There are many ways we will try to enforce this. It is people here it is important people here new york was the epicenter, the world was watching how we manage this crisis in march and april and may, and it is a place people want to go back to, it is excruciatingly painful to think about what we came through and we have to do everything in our power to protect that progress. Other states are a risk, and you think about places like texas where the leadership and Lieutenant Governor is cavalier about their response, saying they will ignore dr. Fauci, he is one of the few people we trust in washington to listen to. Where do we go with that . There is a lot going on outside new york. We cannot protect it because new yorkers have gone too far and sacrificed too much and we are not going backwards. David as you say it is complicated and painful. If that is not enough, let me inject another complicated and painful one, that is crime. The combination of people being pent up and also the aftermath of george floyd and the demonstrations and some of the concerns about policing, how do we strike the right balance between new york city, because there has been a noticeable uptick in crime, what is the way to get effective policing, human policing that affects people in a time of covid19 and some of the real unrest . Lt. Gov. Hochul youre right. Were experiencing a toxic if you have fatigue from having to endure the pandemic where people lost their jobs or frontline workers the stress of putting on their uniform and running into the heat of battle every day. The Human Emotions have been wrought through this. It has been challenging for new yorkers. Fireworks every single night and the protests associated with the andtimate fight for reform the governor has been a champion of this way before this. He put new york state in a leadership role where others are looking to us for what we accomplished. There is tension. Lost jobs, stress, a lot of anxiety, and the violence is escalating. The governor has offered to work with the local Police Department, nypd, and bring in the resources of the state police to assist, working with district attorneys, and we are lending. Of new york state to try to get that volatile situation under control. We just want to get back to normal, but normal will not happen while there is still pandemic and we are asking new yorkers to do more. Can you hold on a little bit longer . You can get your hair cut but you cannot eat in a restaurant. They have to keep doing this, they have to keep wearing the mask, they have to keep social distancing to make sure we cannot slide backwards. When you think about what weve asked them to do over the last month, it is understandable why theres is such incredible tension. David nobody said you had an easy job. That was Lieutenant Governor kathy hochul of the state of new york. Coming up, we will sit down with wes moore, the head of the Robin Hood Foundation fighting poverty who a powerful new book on policing and inequality in america. That is coming up on balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Our stock of the hour is ba yer. Just when i thought it had the round up settlement behind, the judge said here is scarlet fu scarlet . I still think of byaer as a pharma company. It is really an agriculture company. It gets 12 of its sales from feet and 12 from herbicide. That is haunting bayer because it is trapped in a legal mess causing claims round up causes cancer. Andcompany lost all three is appealing those cases. Agreeing to bayer pay almost 11 billion. This week the judge who oversaw that litigation expressed doubt about one part of the settlement, which is bayers proposal to deal with future claims. Bayer will set up an independent Scientific Panel to determine whether roundup causes cancer rather than leave that independent judges and juries. Class members cannot move forward with their suits. If the panel says there is a link, then future roundup users can proceed. The judge is saying this is problematic and he says he is tentatively inclined to reject it. David if he rejects it, does that make the settlement go away . Scarlet that is the big question and what we understand is it does not jeopardize that 12ial settlement of almost billion. It reinforces concern among investors that bayer cannot get past of amount on of litigation and solve this. The monsanto purchase has been terrible. Within the first year of its purchase bayer stock fell by half. It had to cut jobs and sell the Animal Health business. The big brands including coppertone and dr. Scholls headed march the market cap was less than the 63 billy dollars it spent to buy monsanto. That gives you a sense of the pain involved. David coming up next on balance of power we will talk to wes moore, head of the Robin Hood Foundation. This is bloomberg. The best tv experience just got better because now you can watch all your favorite hulu shows and movies on xfinity. Youre only a voice command away from Award Winning shows like the handmaids tale, to new hits like little fires everywhere. And fx originals you can only watch on hulu. Thats just the beginning of what you can experience with hulu on xfinity. Tv made simple, easy, awesome. David this is balance of power on Bloomberg Television and radio. Im david westin. A black man dies at the hands of a police officer, leading to protests and looting and some rioting. It happened this spring in the aftermath of the killing of george floyd in minneapolis, but it has happened in other times in our history, and another time was five years ago in baltimore. Its all been told in the days. Ing new book five we welcome the author of that book, wes moore, ceo of the Robin Hood Foundation. Thank you for coming here. What is your connection to this story, freddie gray, who was killed in the back of a police van . Native. M a baltimore one of the things that struck me s story,ddie unfortunately, i have been too many funerals in my life, but his was the first that i have been to that the person who was in the casket i never knew in life. That haunted me. Freddie grays funeral was a big deal in baltimore. But what helped me to write a book and tell the story was not just the horror of his death but in many ways his life. That is what i wanted to accomplish. David i will read a bit from the prologue. We had come from similar places but i have been so fortunate and blessed. You talk about your mother and your grandmother, the brakes you got along the way. How can it be that two people in similar situations take such a divergent path . Wes when you look at the life of freddie gray, for so many of us, particularly those of us who feel that we are coming out from the margins, where this was not always destined that we could be there, there are a lot of factors that play into it. One of the big factors that plays into it, unfortunately, is luck. Getting a break that somebody else may not get, an opportunity that somebody else may not get. We cannot have a society that relies on luck as a prerequisite for people being able to move from one position to another. Lyft,ink about freddies he was born life, he was born , premature, his mother could not read or write. Siblings. N by the time they grow up, they go to a Housing Project in baltimore that had endemic levels of lead in the home. Now he is underweight, addicted to heroin, suffering from lead poisoning, and he is still two years old. It gets back to the point, did he even have a chance . Interaction,ast where he died, was killed in Police Custody for the crime of making eye contact with police, who called it probable cause, but that just the last system to break in the life of freddie gray . David that was one of the things i found powerful in the book. Obviously what happened with the police was inexcusable. But the problem with freddie gray started way past that. We talk about systemic racism, systemic inequality. There are a lot of systems here that put freddie gray in the wrong place, and for that matter, put police in the wrong place at that time. Wes every system failed him. The education system, the last day of a tendency had recorded in Baltimore CityPublic Schools was 10th grade, 19 years old. He had been in special education his entire career because of that lead poisoning. The cdc says five microbes in every deciliter of blood is enough to give people cognitive damage for life. Freddie gray had 36. So from the earliest ages, from being a toddler, was going to be cognitively damaged because of something that he had nothing to do with. The home that he was living in and the water he was drinking was making him sick. When you look at all of these , weres that were in place not in place in the life of freddie gray, you understand this is not just about reforming policing. Reforming the Police Department is necessary and imperative, however, we have to understand the amount of touches and systems that freddie gray had breaking down led to that last example. A continuation of larger life challenges that he was facing. David i want to take us through thatof your concrete steps you say should be taken. This is the story about freddie gray but also about eight other individuals. Different peoples points of views over those critical five days where baltimore was really on fire. Give us a sense of those characters you described . Wes it was one thing that i loved about this story. Baltimore is full of characters. I was hearing it from every part of our society, what people thought about what happened, what were the lessons learned. I wanted to take those conversations i was having personally with people and share them with the world. I broke it down into it characters. A police major who grew up in west baltimore, having conversations with me, one of the highest ranking africanamericans on the force saying two me, i know that none of my colleagues book up that morning with homicide on their mind. But i also know why the youth does not believe me. Loving the who was fact that baltimore was rising up, was marching and doing something about this, but also feeling a sense of frustration. Herself, whereo was this when my brother was killed by police . A basketball star turned protester. The son of the owner of the baltimore orioles. When they play the Chicago White , for the first time, the attendance was zero because of the emergency. He said i want the world to see this. By looking at this through these various sets of eyes, people that represent different stratas of our society, we wanted to show a kaleidoscope of how complex these situations are, comes down toally two disparate issues, race and poverty, and how those two have a way of coinciding to create disastrous results if we dont deal with them. Ofid as you say at the end your book, we kind of know what the problems are, the question is what you do about it. Lets talk about the respective roles of philanthropy and the government, public policy. You are involved in a very important poverty fighting organization. Wes we are excited about the power fund, a new initiative that robin hood is founding, to elevate nonprofit leaders of color that share our mission of increasing mobility from poverty. This allows us to address property through this lens of Racial Injustice and economic justice. If you look at the data around poverty and you look at the data around race, you see that race is a predominant and leading factor in every single one of our data categories. Everything from Life Expectancy tohealth to wilt and income maternal mortality, the role that race place is undeniable. When you think about philanthropy, over the past 10 decades, only 11 have gone to organizations like by people of color. , philanthropy, we fund fewer and we fund the less when it comes to organizations that are led by people of color. So the power fund is seeking to expand our funding to significantly increase leaders of colorled organizations by providing leadership, complexity organizations, funding, and supporting this field. The people that are closest to the challenges are often the ones that are closest to the solutions. David you mentioned earlier the lead poisoning that contributed to freddie grays tragic situation. You talk in your book that lead poisoning in general for poor and africanamerican children in the country, you talk about fixing the problem and what it could do for our economy, our gdp. At the impactlook of Child Poverty in this country aght now, the impact is over trillion dollars of Economic Impact. Every single year, over which trillion dollars of Economic Impact is due to Child Poverty. We can deal with it later on through the criminal justice system, but it is also in the idea of how much it is going to cost, how much lost income we are having when you have people coming up out of poverty. Of them staying in poverty are high because of the economic mobility prospects 50 . Now is truly you think about Something Like that poisoning, whether it is the piping, lead paint we have known that lead is a neurotoxin in this country for over a century. We have known of the damages that it does to the brain and body. We have just been incredibly class and color conscious in the way that we deal with it. In Baltimore City, 60 of our schools, kids cannot drink the water from the water fountain because of lead. Something that we have known is a neurotoxin. It is this type of thing that we as a Large Society have to have a clear understanding and a clear action plan about how we are going to address this. We could make this country essentially leadfree within five years if we just put forth the economic effort around it, which is not in any way disastrous, but something that will have a Significant Impact on the prospects of our children going forward. David it sure would fit within infrastructure bill. Appreciate you being with us, wes, as well for this new great book that you have written. He is the ceo of the Robin Hood Foundation. Great to have you with us. We will be talking about politics. From the polls, it looks like President Trump may have an uphill battle to climb. Ont is coming up next balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Been steadily moving away from President Trump although we have another four months until the election. Came onently, citigroup with a survey of 140 top wall street Fund Managers showing a shift. In december, 70 said President Trump would be reelected. Now 62 say it will be president biden. We welcome now our political contributor jeanne zaino. Welcome back, great to have you with us. Take us through the polls as you see them. Is it as bad for President Trump as it looks . Jeanne we still have four months to go. We dont look much at the national polls, but he is about 10 points behind nationally. The real problem for him remains the battleground states. He is look at the top 14, only leading in three, georgia, texas, and florida and iowa as well and only by about two points. He has a challenge on his hand. We understand he will be traveling to florida later this week. We just saw him in not rushmore and oklahoma. He has to be concerned about these battleground states. The citigroup told you mentioned is stunning because the very people who felt pretty confident that the president would win and the numbers historically would have there that out are not only saying not only can biden take this thing, but they may see a Democratic House and senate as well. That would be a shocking turn of events because the senate was expected to remain republican. Taxes with that kind of shift would be enormous. Talk about the trip that the president is apparently taking on friday to florida. Down tors he is going meet with Central Command to talk about Drug Enforcement in latin america. What does that tell us about the issues that he wants to fight the campaign on . Absolutely. Florida is really feeling the impact of the pandemic, and yet, the president will go down to Southern Command for a briefing, right near his golf course in doral. I think it indicates he wants to shift the focus away from the pandemic, make the case that we are recovering, shift the focus away. We understand he want to talk about illegal drug trafficking, immigration. That trip they line up with some executive orders that we see coming out of the white house on friday. He is really trying to shift the focus, but it will be top in this environment. Of course, he is going down to the hotbed of the pandemic, florida and miami, where we are hearing they will be instituting all kinds of rules and closing bars and other things down because the gotten so high. It is the hotbed of the pandemic and also the place where he decided to move his acceptance speech, into jacksonville. Chuck grassley saying that he will not be going. Will they be able to go forward . Jeanne i cannot imagine how. They saw how this turned out in oklahoma. It was not a good showing for them. They were forecasting one million, it was an embarrassment for the campaign and president. The republicans dont want to repeat that for the convention. I cannot imagine that they can do this in florida in just a few weeks for a convention. Maybe they tried to do Something Like what they are doing in New Hampshire on saturday, where they will try to do something in an airport hangar outside, where people can social distance and wear masks. But tough to imagine how the republicans pull this off in a few weeks, unless this thing turns around. David you talked about the senate. A year ago, there was no chance that it may switch to democrats. What about now . Jeanne shockingly good. Ago, if we would have said that they had a chance come it would have been so unlikely. There are at least eight republican seats that the democrats have a chance of slipping. These are seats in colorado, arizona, north carolina, and maine. If they can put those antique a few more of the others that are perhaps tossups georgia, kansas, maybe iowa they could be in good shape. It is something that was really unprecedented a few months ago. As we look at 2018, a big problem for republicans, what is scaring them so much, is the president weighing them down in the suburbs, especially with welleducated folks who seem to be turning away from him and potentially the republican party. They can shift some of those states with that playbook, similar to what the democrats were able to do in the house in 2018. David thus far, joe biden appears to be making progress by frankly staying out of the way. But he cannot when it comes to a Vice President ial pick. Are there risks there . If he was to pick somebody like elizabeth warren, im not sure those Fund Managers would be happy. Absolutely. This puts more pressure on joe biden. One of the things coming out of a potential democratic presidency, house, and senate, they would potentially repeal President Trumps tax bill. If they were to pull some of that back, he will be careful on who he picks. The more progressive the person, the more dangerous it could be for democrats in that regard. That is partly why you see the president trying to keep talking about the dangers of progressivism in this country and what these leftwing democrats mean for the country. He has talked a lot in terms of law and order at this point, but i think it would be better off to talk about it in terms of policy. That is where the real debate will ensue if democrats take washington next year. David no question, but i think there will be a lot of talk about socialism before we are done. Zaino, professor of Political Science at iona college. This is balance of power on Bloomberg Television and radio. Dio. David this is balance of power on Bloomberg Television and radio. Im david westin. We have an eventful first week back after july 4, including President Trump place to go to florida to talk about Drug Enforcement in latin america. A lot going on in the markets. Right now, it is time for first word news with Mark Crumpton. Florida, the percentage of covid19 tests coming back positive is climbing, undermining governor ron that the crisis is not getting worse. The Positivity Rate climbed to 15 . It is now at the highest on record according to data compiled by bloomberg, which goes back to early april. Laura has had more than 61,000 new cases over the past seven days, the highest ever. The Spanish Government is extending some Financial Measures through september to help families weather the economic fallout from the pandemic. Utility companies cannot cut gas, electricity, or water fail toeven if citizens put their bills until september 30. Mortgage payments remain frozen for those that cannot afford to pay. A published report says the covid19 crisis has exposed serious weaknesses in spains efforts to reduce poverty. Tennessee senator Lamar Alexander is the second republican to announce he will skip the 2020 republican convention. Chuck grassley said monday that he would skip the gathering out of concerns of the coronavirus. The convention is gathering in jacksonville, florida. Last week, jacksonville had the fastest rate of growing coronaviruses of any metropolitan area in the u. S. Roger stone is appealing to President Trump to grant him a pardon or commute his sentence before he begins his 40month prison term next week. He was convicted of lying to congress and says his age and Underlying Health conditions made him particularly vulnerable to covid19. The court of appeals in washington has ordered the government to respond by thursday. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. David thank you so much. We will continue balance of power on radio for the second hour. We have a special guest talking about the renaming of the redskins, something the president doesnt like much. Nation activist and writer. We will also talk about what it will take to get diversity into the c suite in silicon valley. This is bloomberg. Its pretty inspiring the way families redefined the word school this year. Its why, at xfinity, were committed to helping kids keep learning through the summer. And help College Students studying at home stay connected through our university program. Were providing affordable Internet Access to low income families through our internet essentials program. And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following from around the world. Liquidations in the First Quarter jumped to the highest in four years. Audio samplewith delly about the direction for the industry. Its 2. 65 billion deal for postmates. What it means for the food delivery industry. An exclusive interview with postmates ceo in a few minutes. And before the president of mexico trip to the white house, we take a look at the trade deal, and how the coronavirus is affecting north americas economy. We have a little bit of a mixed market. The nasdaq is up a quarter percent. The s p 500 is down a quarter percent. The dow is down three quarters of a percent primarily on