The week. Vix below 30. We have a stronger euro today. Europe definitely doing better on the coronavirus front. The 10year yield holding at those lows of 64 basis points. Kicking off this week. Investors awaiting report from the largest u. S. Banks. Lets get to brian levitt, invesco Advisors Global strategist. It seems there is more optimism than pessimism on the earnings front. Why should that be . Brian i think it is largely not investors view the Second Quarter as being priced in by the markets. 35 in 20 was down days, pricing in a bad secondquarter, and a big hit to earnings. From there, you assess whether things start to get better as the year progresses. Investors are largely looking out beyond the Second Quarter as there has been resumption in , as mobilityvity has improved, conditions have improved. It is largely a look at things getting better, rather than taking the Second Quarter will be anything but pretty ugly. Vonnie it seems investors will be cheered by anything. If you say the second is already priced in but will not be pretty , why would they have priced in positively . The market priced in a bad outcome. When you have is obviously a massive policy response on the fiscal side and the monetary side. You have seen reopens go well in many parts of the world, as well as the new york tristate area. That if people exhibit the right behaviors, you can resume economic activity. Now are there some hoax around therapeutic sand vaccines driving markets forward. It is a combination of things working to support markets. But we should be realistic. The composition of the market has changed. We have moved from a few weeks ago when everyone was talking about the breadth of the market and the early cyclicals, going back to the True Companies driving the market. It is not as if there is a , all businesses are participating, the early cyclicals are winning. We are not there yet. Buy . E are banks a brian banks are attractively priced. The challenge with banks is we are likely to persist in a low Interest Rate world, low inflation world for some time. To me, that would suggest a fairly flat yield curve, which usually is not conducive for banks to be the big winner. You would need to see reopenings go better in the u. S. You would need to see a more resumption in economic activity, really acceleration, in order for banks to take over the leadership of this market. Given that cases are rising, some states are talking about becoming more stringent in terms ofctivit i wld thi its an activity that favors more of the growth oriented businesses rather than early cyclical businesses, like financials. Vonnie is there a headwind that checks those growth stocks, weather conflicts with china, the election, or otherwise . So far there doesnt seem to be any headwind to check that growth. Headwind would probably come in the form of investors becoming concerned about the valuations although that has not seem to emerge or if there are concerns that the elections could lead to concerns about checks of monopolistic powers of these businesses. Anbably something that administration probably wouldnt want to do during the recovery. For now, if you are focusing on it from an investment practitioners point of view, in a slow growth world with rates staying relatively low, with inflation still weak, its an environment where you want to own growth. Vonnie if we get another round do you then begin to get worried about inflation . When should we start to get worried about inflation . Brian certainly not now. I think of inflation as the we hope so moment. We are still battling inflationary forces. Tips break at the even, it is at the low end of the feds comfort zone. Would really need to see it is not just the money being put into the system. You need to see the velocity of the system pick up. Right now it is quite weak. I dont think inflation is a nearterm concern, or in it or intermediate concern. There are Structural Forces weighing against inflation. Your forces weighing against inflation, the ongoing hit to demand as a result of us not fully engaging with the economy, and then Structural Forces weighing against inflation, which is aging population globally. I dont have inflation as a concern right now. I suppose if we get there, we view that as a good thing, meaning money is moving, demand is picking up. Central bankers would have to respond accordingly. I would have to give fiscal stimulus as something bringing inflation to the fore. Vonnie in terms of your global outlook, where else would you be looking, anticipating looking soon . Brian investors should be looking for growth wherever they can find it. That is not only in the u. S. But around the world. One of the interesting things that comes from this is, it seems to be breaking what had been a prolonged dollar cycle. Global. Came out of the financial crisis better than most. We are set to be the country where Interest Rates were going to rise sooner. That was strong dollar. That made it difficult for investors, especially dollar earners, to be in other parts of the world. With the fed now likely accommodating well into the future, big deficits, during a new dollar regime of stable or starts tolar, which have money start to flow into soer parts of the world, when i say on the slow growth world, look for growth, it is not only the united states. It is also going to be other parts of the world. In particular, parts of the world that seemed to be coming out of this on a stronger footing than the united dates is right now states is right now. Vonnie thank you for that, brian levitt. Now lets get a check on the first word had lines with Mark Crumpton. In the National Football league, washingtons team will no longer be known as the redskins. It is dropping the name after coming under pressure from sponsors and retailers. Principal owner dan snyder and coach ron rivera are coming to working to come up with a new name. Its a big reversal for snyder, who said in the past, that the name would never change as long as he owned the team. If you are black in america, the coronavirus is more likely to kill you, and the disparities have gotten worse as cases have begun to surge across the country. Where residents are mainly black, the death rate is 3. 5 times the national average, up from three times several months ago. In places with more than 100 deaths, blacks have made up 23 of them, almost twice their share of the population. Hong kong is taking steps to prevent the coronavirus from spreading. Ands shutting down gyms game arcades for the next several days. All inbound travelers will have to pass a virus test. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie this is Bloomberg Markets. Im vonnie quinn. Maxim being acquired for Analog Devices to create a 600 billion chip behemoth. Scarlet fu has more details. This is a deal to add skill. It brings together the number two and number three players in the chip space to create a star competitor to texas instruments. Considered onee of the more boring corners of the semiconductor market. Realworld signals like temperature and sound into digital data. Sectors tend to be a source of a lot of the man, but they are under pressure given the slow down in the Global Economy. When that happens, orders slow down over all. That is a contrast to a company like nvidia, which makes chips for gaming and the cloud. Analog chips are fairly cheap to make. As a result, they have some pretty fat Profit Margins come around 65 . They are cheap to make, and they have a long shelf life as well. They dont need to be updated on an annual basis. Fascinating deal and they are two of the largest players already. What is the likelihood for any kind of a bidding more . This is one of the biggest deals out there. Whoever comes in would have to be a pretty big player themselves. Identified possible bidders, texas instruments, microelectronics, infineon on technology of germany, these companies could potentially outbid analog, but they say it not likely. Texas instruments coming in is unlikely, but that would run into antitrust concerns. And it is not just u. S. Regulators who would be scratching their heads at this. Regulators in other countries would need to approve as well, diashey did improve nvi purchase earlier, so the thinking is this probably would get the goahead. When you look at what maxim relies on, it does rely on china for a third of its sales. Given u. S. China trade tensions back again, this deal could become a bargaining chip between the countries as they move forward. Theie once you get past first handful, then you get to companies that are much smaller for consolidation. Thank you, scarlet fu. Florida, home to Walt Disney World home parks theme parks, have reported some of the highest numbers of coronavirus cases since march, but still parks are opening. The debts that are happening , there is a lot of trust that we are going to open up in a responsible way. Also the theme park cast members trusting us to communicate with them effectively. I think we have done a really nice job of that. We have been down for four months, we were one of the first theme parks to close, and we are the last to open. We spent a lot of time programming this experience to make sure we uphold our responsibility. You have cases and deaths hitting records highs in florida, people in the hospital who are not happy with your reopening. A lot of people are asking why open now . Why not wait a few weeks or months . This is our new normal. This is the world that we now live in. As i said, we created a really environmentrating where we are in control. We have new safety protocols in place of everything from where face masks to temperature checks distancing to new cleanliness standards, and even a reservation system. If you want to show up today, there is a reservation system in place so that we can control the number of guests in our theme parks. This is the new normal we are operating in, and we feel like we have a way to operate in the new world. We have seen some photos online, one of a line, no social distancing, so can you do all of this . New environment we have created, there is a responsibility for our guests and our operating environment. As we continue to open up, we are modifying where we need to. General, if you were to walk down main street today or look around, you would see a different experience than you ever have before. Would you take your kids to disney world, would you tell your friends and family that now is safe to come . Absolutely. Whether it is right here at Walt Disney World or disney springs, which i recently went to, we just reopened in anaheim, absolutely. You went around and talked to guests, they feel good about being here. If they have concerns, when they are ready to come, we will be ready for them to come and visit us. What about employees . It is one thing to visit wants, but another thing to go in day after day. [indiscernible] employees and cast members who do not feel safe. What do you tell them . I spent a lot of time in the parks yesterday, we had some annual pass previews yesterday, we walked around the animal kingdom. I spoke to hundreds of cast members. This is a big deal for us. They have a lot of trust in us. Its important that we educate them, train them in a new way, demonstrate the safety protocols we have in place. The cast members are feeling really good. From a union perspective, im proud of the relationships we have with our union. We have unions that represent 50,000 cast members here that have reviewed our guidelines and agree with them. It is a big responsibility. Gone abovee we have and beyond to make sure we are creating a solid environment. Vonnie that was the disney parks chairman speaking with emily chang. Just this morning, a disney spokesperson announced Hong Kong Disneyland will temporarily close on wednesday. This comes as hong kong officials tighten restrictions in that region. Still ahead, learning in lockdown. Online learning platforms saw a boom as cities went into lockdown. As cities reopened, we will speak to the ceo of Online Learning school outschool biontec. This is bloomberg. Millions of of students around the u. S. Spent most of the last school year learning remotely due to the coronavirus. With limited resources at home,. Utschool saw a huge increase joining us now is the ceo and cofounder amir nathoo. You say a 30 increase. Tell me how many students use on enrolling in your classes, what you anticipate for august and september. Amir we saw hundreds of thousands of students sign up. We expect that to jump again the going into the fall. Unfortunately, it looks like this years back to school will be nothing like the normal back to schools given the current situation. Vonnie you have 50,000 plus classes. How do you get teachers, what kind of rates to they get, who sets the rates . Classes are live online classes, meeting in small groups, video chats. Its important that they are safe and engaging experiences. Background checks, we also have an application process. Every teacher is approved by our team. Class to makery sure that it is objective and ageappropriate. And we believe the teacher can provide a great experience. Families are responding incredibly well, giving fantastic it back, you can see on our social media even that is a little bit about how we have the teachers. We are grateful to be providing such a useful service for many families who need to occupy their kids. Teachers understand set their own prices, so it is like a bidding war. They pitch their class. How do you prevent a race to the bottom if there is a lot of competition for one particular class . Amir great question. We see teachers setting prices an hour. 0 and 15 its a fantastic rate for classes and teachers. The classes could range from three kids to 10 kids. The nature of small groups means that parents can pay less, and teachers can earn more, as opposed to oneonone teaching. The teachers are typically earning 60 an hour using outschool, and some are earning more. Vonnie i noticed some of the classes are themed. You have pokemon grammar, minecraft architecture. What do you do to boost those teachers that dont have a gimmick but may be extraordinarily brilliant and maybe the kind of teacher that students will remember most but are not getting the engagement because they dont have that ability to attract online . Amir every kid is different and want different things. Not every parent or child is looking for the pokemon glasses. People are looking for different things. Someone may be looking for core academics. We allow teachers to set their profile and differentiate themselves based on reviews, qualifications, the descriptions of why theyre interested in the subject. They record short intro videos so you can learn more about them in their teaching style. There is no one best teacher in the world for any subject. Its all about what works for your kids. That is why we offer those services to teachers taught to let them express themselves. We encourage them to get creative and teach the classes they have always wanted to teach. It turns out that is what families want. Vonnie good luck with the new school year, amir nathoo. We will be looking at educational issues throughout the week. Ceong up later, the walmart joins David Rubenstein for the latest installment of leadership live, today at 4 30 eastern. This is bloomberg. Mark im Mark Crumpton with bloomberg first word news. Wear a face coverings in confined spacious such shops. He added the government would be making an announcement in the coming days and whether they should be mandatory in those settings. The mandatory on public transport, but they have value where youd spaces, are coming into contact with people that you dont normally meet. What has been interesting on the face coverings issue in the last few months is that the scientific evaluation of face coverings, their importance in stopping aerosol droplets, that has been growing. Masks were made mandatory in scotland. Prime minister johnson government will launch a campaign to urge businesses to prepare for the end of the exit brexit transition period. Only a quarter of directors say they are ready. Meantime, british Authorities Say they will spend 890 million on new border infrastructure. China is imposing sanctions on marco rubio and ted cruz over legislation intended to punish beijing for its treatment of ethnic minorities in the countrys far west. Several other officials were also named. The move is largely symbolic. Last week, the u. S. Sanctioned a member of the communist party and three other officials over alleged human rights abuses. Top universities are backing harvard and m. I. T. In their fight against the Trump Administration over student visas. 60 schools have filed a brief in support. Harvard and m. I. T. Are trying to stop the government from him or sing guidelines that would bar some International Students from entering and staying in the country. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. From bloomberg World Headquarters in new york, on vonnie quinn. We are joined by our bloomberg and Bnn Bloomberg audiences. Amanda lang will join us in a moment. Here are the top stories we are following from around the world. Worldl banks around the announce rate decisions and guidance on the world economy. We focus on the ecb and the bank of canada as the governor elites his first full meeting at the helm. With ross speaking generally about his latest venture fund. He says companies are crazy cash burning and will face a reckoning. The biggestrted oneday rise since the pandemic began in the u. S. We speak with dr. Arturo casadevall about his work in recovering covid19 patients donating plasma to treat current patients, and also developing a vaccine. Lets get a quick check on the major averages. The deal helping the nasdaq to gains but its across the board. The s p 500 up 1. 5 . The dow jones up by 2 , led by pfizer. Today. Lar index, weaker a stronger euro. The other indices very much in the green. It is a big week for Central Banks. Wednesday, Central Bank Rate decisions from japan. Thursday, we get the ecb decision. Joining us now is michael mckee. Are we anticipating any surprises this week, anymore forecast cuts, given the uncertainty in the Global Economy . There is aan see general sense of the ease about the Central Banks reporting this weekend. Canada leading off, then you have the bank of japan and ecb. Pat. Re expected to stand we are in a consolidation and examination phase, where central bankers are looking at whats happening in their economies, trying to figure out what the next steps will be. Accommodation,re can they do that, how would they do that . We are also looking for forecasts in what they see ahead for the economy, even if it is a murky vision. Vonnie labor markets around the world are in canada in trouble. Canada in particular. Debt to gdp is higher than it was. What can the bank of canada do, like what we saw the Federal Reserve do to fix the u. S. Economy . The bank has made it clear, the new governor has made it clear, that is about as low as they would like to go. Most analysts are looking at the bank of canada to do more qe at some point, not to announce anything this week, but perhaps in the fall. They have been targeting 5 billion canadian each week in terms of purchases and could increase that if they need to do more stimulus. Nothing too exotic is forecast. Vonnie is there anything we know about 50 mac that will give us any sense about what kind of governor he will be . Mike he has been in the bank of canada for many years before coming back. There is expected to be continuity. The one change is one of emphasis, the former governor, at aen follows was looking market opening mechanism, like the Federal Reserve has done in this country. Lem sees it as a stimulus measure as well in the markets are working well. He may look at it as a slightly different point of view, whether we need stimulus. Make your bets on what they would do there. They have not done a full Monetary Policy report, including Economic Forecast basically since january. We are supposed to get that on wednesday. We will see what they see ahead for the canadian economy. Just came outrvey today suggesting they see the canadian economy shrinking by 7 in 2020. In the Second Quarter, they expect a 40 decline in gdp on an annualized basis. 31 rise in the third quarter. We will see how close the bank of canada comes to the private sector forecast. Vonnie candida did get a downgrade from its aaa status. Anything to worry about . They are not to concern about debt levels at this point. Like everyone else, they are experimenting how far you can go before you see a reaction in the markets. Pile on moreu can debt than many central bankers were led to believe. Raisere not looking to the amount of bond buying the are doing now, but they apparently feel they have scope to do so. Vonnie that is news to the Central European bank because theres a lot of news. Is there anything more they can do to help the european economy . There is a nice halo over the euro right now. It is doing pretty well coronavirus wise. Will hear more from Christine Lagarde about the need for fiscal policy. European leaders are meeting to talk about that rescue package. They will probably get a shot from behind from the European Central bank. There is not much more they can do right now. They can always raise the amount of qe they can do. They have lowered Interest Rates butheir lending programs have not had to take him they anticipated. It doesnt appear there is a lot of demand for additional Monetary Policy in the economy right now. Look for them to give us forecasts on where they think we are going and emphasize the need for fiscal help. Vonnie is there anything that might surprise the Global Economy from any of the central bankers . We will hear from the bank of japan. They have to be careful not to spook the markets. Mike i dont think youll see any real surprises. Interest rates are about as low as they can go, unless you want to get into parsing how many additional basis points you can get into. People have basically turned away from Monetary Policy, believing it is on its lowest setting. Any additional action would be designed to keep rates where they are, rather than push them lower. If there is no qe additional in the forecast at the moment, and we wait to see how the economy develops in the second and third quarter, it is really a fiscal issue for most people. You will see Central Bank Governors be careful about what they say. Vonnie thank you, michael mckee. Some headlines, the prime ministers of canada Justin Trudeau have begun an update about covid19. He has been speaking with President Trump in the u. S. About trade, tariffs and china. E said aluminum tariffs would tarnish the new nafta. We will continue to monitor that briefing and bring you details that emerge. Coming up, the economic fallout from the virus may be stress testing the startup ecosystem. That has not hurt some from raising more. We will speak with founder next. This is bloomberg. Vonnie this is Bloomberg Markets. Im vonnie quinn in new york. Amanda lang is in toronto. She will be joining us. Venture growth firm b capital has closed on its Second Venture capital fund at 820 million. With a portfolio of 30 companies in europe, asia, and the u. S. , this newfound brings total assets under management to 1. 44 billion. Joining us now is cofounder of b capital, raj ganguly. Are aimingwhat you for, how difficult it was to make that 820 million. Raj thank you for having me on. It has been a really interesting environment for tech. We have always been focused on investing in missioncritical tech. The last four months, it has shown people tech can be a leader in the markets, versus prior recessions where tech lead the downturn. Been the most resilient part of the markets. Our mission with b capital is to support great founders. We are transforming Large Industries like health care, logistics. We think we need the technology more than ever. I believe most tech would be considered missioncritical. How do you find the next company that will be the next disruptor . It feels like a lot of companies are chasing them. Raj all of us investors want to invest in missioncritical. Important part of this recession is we are learning what is missioncritical. Areas like health care, we have been focusing on Health Care Innovation since we started. While it was not always the most exciting space, we think Health Care Innovation and the future of health care is a really important area. We are looking at how to virtualize Clinical Trials, bring drugs to market faster than ever before. These were problems that we were focused on five years ago and are even more relevant today. Vonnie are these companies in asia . I know that you have a particular focus their. Raj we really felt like Silicon Valley would be an important place, but we have also focus from day one on places like india, indonesia, latin america. We think these are big and important markets. There are two point 5 billion people in asia outside of china. While we have not invested in china due to multiple reasons, there are other areas to invest in. We are excited to invest in china hopefully as things progress. About howy concern the world order, if you like, is going these days . There is a story on bloomberg today about the new world order. About have any thoughts what the world order may look like in 50 years, what is it going to look like . Raj i think we are going through a massive decoupling between china and the u. S. You are seeing at fastest in the software side. Frankly, the elephant in the room has been the chinese have firmly established themselves as the leader in the technology ecosystem. That we can days say they are building coffee cup technology. They are building true innovation. The question is, they have done it in a different way. They dont follow the model that many of us follow in the u. S. , certain other countries. The question is, what does that mean for the Global Economy, for the tech economy . We are in for profound change over the next five to 10 years, not even 50 years. Vonnie i know that you look at brazil. One of your cofounders has a lot of experience in other countries as well. How is coronavirus impacting the way that you make decisions now, are you pulling back from countries because of the way they are handling the virus . I think there are definitely concerns around how coronavirus is impacting the Global Economy but we have not pulled back. Technology will play an important part in how the world looks post coronavirus. You will see companies are going to sell Massive Technology to other businesses, and they will do it 100 virtually, and they will implement these technologies virtually. That is why we are still bullish. We are frankly bullish on Small Businesses, which in some ways have taken the biggest hit to run this recession. We think Small Businesses have been extremely resilient in places like brazil and india. Providing them Better Technology will still be a big business as we move forward. Vonnie have valuations come down substantially since beginning of coronavirus . Companies are probably easier to get your hands on. Raj private market valuations always lag the public markets. Public markets have been so volatile the last few months. We see valuations improve, but you will continue to see a lag of eight to 12 months. We expect that valuation environment will keep improving, but the best Tech Companies attract capital. Our focus is still investing in marketleading transformative tech. Valuations there have been pretty stable. Vonnie thank you so much, roche ganguly. Raj it is time for a look at the Bloomberg Business flash. Bill ackmans company has increased the size of its ipo. They are now seeking 4 billion for an unspecified acquisition. His filings have singled out Large Companies as potential targets. The company says it will also be targeting ipo candidates and familyowned businesses. One of the unlucky investors caught up in the Waste Management debt debacle is the Federal Reserve. The fed by 3 million of the Company Bonds last month. They will lose about 120,000. Another corporate casualty from the downturn in the u. S. Shell industry. High crush has filed for chapter 11 bankruptcy. They have agreed with some bondholders to eliminate 450 million in debt. That is related Bloomberg Business flash. Florida breaking the record for daily coronavirus cases in the u. S. Dr. Arturo casadevall from the Johns HopkinsBloomberg School of Public Health will be with us about his thoughts on putting the virus. This is bloomberg. Erg. Vonnie key therapeutic in the fight against the coronavirus is convalescent plasma. Demand for the product from patients who recovered has been high in more research is currently underway. We are joined by dr. Arturo casadevall, chair of molecular microbiology and immunology at the Johns HopkinsBusiness School of Public Health. He is also the leader of two studies on convalescent plasma. What can you tell us that is categorically and scientifically true about this treatment right now . Dr. Casadevall that is a hard question, categorically true. What we have learned in the past several months is that the treatment is generally safe. That is, it is as safe as receiving plasma. This is very important. Over 30,000 patients have been treated. We have a really good safety profile. If you have a good safety profile, that is one of the requirements for any type of drug. Vonnie it may be a safe treatment, but do we know what outcomes there are . Doesnt make it safer for you after the treatment . Dr. Casadevall there is quite a bit of data coming out. People are impatient, asking doesnt work . Does it work . I would say there is a large body of evidence that is encouraging. What they need is randomized controlled Clinical Trials. Unfortunately, that takes time to be done. Those are in progress. , short of a randomized controlled trial, has been encouraging. There have been several reports that the administration of plasma is associated with reduced mortality. In a pandemic, people are desperate for treatments, particularly when they get to a certain stage. How do you get around the ethical and moral dynamics when you have to carry out a test with randomized patients, where sun get the treatment and some dont, but they are equally sick . Dr. Casadevall that is a good question and that is a problem when you are doing Clinical Trials and hospitals. In hospitals, people are very sick. Hopkins, we have two trials going on. The are focusing on outpatient space. One trial is looking at whether antibodies work as a prophylactic. Outbreak, a major there was a breakdown of personal equipment, there is a high likelihood that you get infected. If you get a unit of plasma, does that prevent the disease . That is one trial. Dore, it is quite ethical to it because you are looking at people who may or not be infected. The second one is looking at people who are home with covid19 who are still ok, they dont need to go to the hospital, and there you offer them a unit of plasma or control. If you receive convalescent plasma, does it change the outcomes, prevent you from getting worse . In this situation, it is not so hard to do it because we are dealing with people who are healthy, the outcomes are likely to be good, irrespective of what we do. What we learn from them can be applied to the very sick patients. Vonnie we are out of time, but what is the calendar goal . When are you hoping to have an important date . Dr. Casadevall it all depends on recruitment. I can tell you it is multi sector, dozens of centers are involved. In a short answer, a couple of months. Vonnie fantastic. We will keep uptodate with all of your work. Thank you for taking some time to join us today, dr. Arturo casadevall. The Johns Hopkins school of Public Health is founded by michael bloomberg, founder and majority owner of bloomberg television. Amanda lang will be rejoining after this short break. We apologize for the issues. This is bloomberg. 49. 50 i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Xfinity. The future of awesome. Simon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. Touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. It is 2 00 in new york, 7 00 p. M. In london. This is Bloomberg Markets the close. I am taylor riggs. Caroline stocks flat on the year for the s p 500 as it is gaining on hopes that earnings paint and improving picture with Consumer Discretionary leading the way. Oil erasing earlier losses. Deal in a bidchip to challenge texas instruments. We hear from the ceo this hour. Washington football needs a new home. The owner announcing the nfl team will retire the name of offensive to the native americans. All that and so much more coming up. Romaine first, lets check on the markets. You basically need fortunetelling skills to tell what is going on. The s p 500 adding another 1. 4 . The most