One interesting thing is we finally have a little bit of strength for the dollar after the fed yesterday in a while range, now slightly higher. This is tampering gold. A gold rally is on pause. Not a strong Risk Appetite on the day to say the least. David at the same time, we had the big tech hearings with the four ceos getting beaten up. We had some big earnings today. Does it look like tech might be holding up a bit better . That tech hearing yesterday, they lucked out, or investors lucked out to some degree on the fact the fed was also happening that day. That was probably more of a psychological overhang. The bigger news is earnings after the bell today for apple, amazon, facebook, and alphabet. 100,is 40 of the nasdaq about 16 of the s p 500, and a big question here is whether or not these stocks have run too far, too fast, not just off the march lows but the last earnings season. Amazon up 40 out of the last earnings season, but what makes it so interesting is earnings for the june quarter expected to decline by 34 . That is the basic tension. Are these stops price to perfection . Yesterday on a five day basis they had been down, a blip into that tech hearing yesterday and the earnings season. Now over the last five days we are looking at strength. Itll be interesting to see what they do put up after the close. Guy thank you david thank you so much to abigail doolittle. In the meantime theres a lot of politics news, including the president of the United States thing we should postpone the election because he is not sure he trust mailin ballot inc. We welcome our political contributor, genies a note jeanne zaino. President biden predicted he might do this, and he flatly denied it. For the president to suggest the possibility of postponing the election . Unprecedented to see a sitting president talking about postponing an election. We have through many crises in this country from the civil war to the 1918 pandemic to the vietnam war, world war i and world war ii, never have we had an election postponed. He raised it in . He raised it in question marks in his tweet and the campaign is not responding. The white house said talk to the campaign. The president has no power to do this at all. This would have to be done by an act of congress, and when he talks about universal male in balance universal mailin of citizensut 30 are still expected to vote in person. To his point, there will be an increase in the use of mail ballots and research has found very little if abby if any evidence of fraud. It may take longer to count, but there is no evidence of fraud. The president could not point to any evidence of rot in his tweet. David there is that pesky thing called a federal statute that would be in the way, but there is not universal balloting for anything in the country, it is done by the state. We cannot make all of the states get in line. Jeanne there is that. Under the Constitution Congress has the authority to set the time, place, and manner of the election, but how we vote is always up to the states. There is no way in which that would be done on a universal method. Right now five states are using mail ballots successfully and they have been, even before covid hit. There is no evidence of fraud, there is no evidence we will see all 50 states moved to universal alien ballots universal mailin ballots, but what is going on with covid, it came up during the testimony of william said itcongress, and he is not something he has looked into. No one in the administration has been able to point to any evidence of fraud like the president suggests. This is coming just 15 minutes after the really bad economic numbers we heard. There is speculation this was the president s attempt to change the focus of the conversation, and he has done so successfully on the day of the funeral at which three former president s are attending for representative lewis. It is really something to note. David he certainly got everybodys attention. Another thing that is supposed to happen this week is joe biden will reportedly choose his Vice President ial candidate. What do you expect . Jeanne he said he will be announcing in early august. There was some speculation it could be as early as saturday. I do not know if that will happen now. By all accounts, the former Vice President was photographed showing notes with Kamala Harriss name on it, so there is speculation she remains of the list. It is likely that is still the case. He has not given an indication one way or the other, but the number of women he is talking about and hearing about has decreased slightly as some people have taken themselves out of contention. I think senator harris has the lead in the battle for the vice presidency, and Vice President biden is a cautious man in many respects. There is speculation he will go with a sure thing, which would be kamala harris. Not a lot of surprises. It is hard to predict. David you mentioned the funeral going on for john lewis in atlanta. We have nancy pelosi. Later we will hear from president obama. We have already heard from former president bill clinton. There is another death we learned about today, herman cain, former candidate for president who had also been talked about by President Trump for a possible candidate for the Federal Reserve. I want to talk about herman cain in this connection. He had a connection to jack camp, a particular wing of the Republican Party which is very fiscally conservative but concerned about the plight of the underclass. Is there anyone who is caring that mantle for the Republican Party . Jeanne nobody in the way herman cain was. He was a selfmade man, he was a businessman, he was very concerned about the plight of people in the lower middle classes. He famously ran for president on 99 promise. It is hard to find people in the Republican Party carrying that mantle. There are people talking about these issues. Somebody prominent who comes to mind would be somebody like to mitt romney. Was alsoin he somebody close to President Trump. He was at the rally in tulsa. He was somebody who has been close and you have the ear, and it is hard to figure out who in the white house is making that case. The president is not at john lewiss funeral, nor did he go to visit him. You are hardpressed to find somebody caring that mantle today close to the sitting president of the United States. David there was a time President Trump said he wanted to reach out to the africanamerican voter, as well as the hispanic or latino voter. Does that still a live strategy for President Trump as he campaigns for president , or has he given up on that . Jeanne he has said that in the not so distant past, but if you look at the policy involving housing he has been trumpeting the last few days on twitter, you are hardpressed to see how from a policy perspective he is doing that. He has said that, but there is no real consistent policy. Certainly no sign as we look at the polls that africanamericans have been moving in any way toward supporting the president. He would have to take a deep turn to make that case, and certainly we have not seen that happen. You can argue he has been doing exactly the opposite in terms of his rhetoric, which is something the Republican Party certainly was concerned about after 2008, that they cannot win if they do not appeal to latinos and africanamericans. President trump has not done any of that in a concerted manner and now the republicans are in danger of potentially losing the senate in a year in which they should hold onto it. David we have talked about the polls. Polls can be misleading. It looks like President Trump is struggling, and republicans generally are, including in the battleground states. What is his path to success . It looks like law and order, going after the protesters, and immigration. How does he handle covid19 . Jeanne they are focusing on law and order, issues of guns, they are trying to focus on the suburbs. I think the issue is the economy. That is why the tweet came out because these numbers are devastating for the president. I think he has to handle the economy, and the covid19, which many people give him very poor numbers on his handling of that comment the tweet earlier this week did not help any. He is not doing himself any favors in those regards come and republicans are nervous. The president was yesterday in texas. He should not have to fight for the support of texans. You should be branching out to places like new mexico. He has to be down there with polls showing joe biden within striking error in a state democrats cannot win in the modern era. David if the economy is a critical element to the president s path to reelection, why dont we see him going to bat hard for that fourth of fiscal stimulus. Perplexed why he is in the forefront of this battle. Jeanne he absolutely should be. Part of his challenge is it is not just up to him, it is up to republicans in the senate. You have a real division with members of the Republican Party in the senate between those who felt the previous bill went too far and those who want to repeat that. They are battling this out, and the president absolutely should want to get that done and move forward to other things like infrastructure. He should want to make an investment so he can put the economy on sure footing. He does not have the power to act unilaterally, and i think he is having challenges with republicans in the senate who feel like they have stood for him for so long and now you have places like the koch political report saying they could possibly lose the senate overall. That is a real problem for republicans if they lose the senate. David still over 90 days to go and a lot of things to happen, as you know so well. That is bloomberg political contributor jeanne zaino. More balance of power coming up next. This is bloomberg. David this is balance of power on Bloomberg Television and radio. Time for first word news with mark crumpton. Mark President Trump is suggesting the idea of delaying novembers election to avoid mailin voting fraud. Theeeted those would be most inaccurate and fraudulent election in history. The coronavirus pandemic has prompted many states to expand and ease restrictions on mailing and absentee voting options. There has been no evidence of widespread voter fraud through mailin voting. Says novembers election date is set in stone. Funeral services are underway in atlanta and the church once led by the reverend dr. Martin luther king jr. For a man who was at the front lines of the civil rights movement. Congressman john lewis is being remembered at Ebenezer Baptist church with three former president s in attendance. Former president barack obama will deliver the eulogy. Louis died july 17 at the age of 80. Bloomberg terminal customers can watch the services for congressman lewis on clive . On live. One of the most prominent americans to contract the coronavirus is dead. Herman cain had been in the hospital since july 2, less than two weeks after attending President Trumps rally in tulsa, oklahoma. Herman cains office says he did not know when or how he contracted the disease. In april 2019 herman cain withdrew his name from consideration for a seat on the Federal Reserve board over past Sexual Misconduct allegations. Herman cain was 74 years old. Boris johnson is warning his country the coronavirus pandemic is far from over. The Prime Minister tells the bbc he sees signs of a second wave coming. Johnson said it is vital for the u. K. To keep its focus and discipline and not delude ourselves that somehow we are out of the woods or this is all over. 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 as weve been talking about throughout the broadcast, u. S. Gdp numbers came out and were pretty bad. Not as bad as expected, but pretty bad. Declining as much as 10 during the quarter which made for an annualized rate of 33 . Archieome Michael Mckee, economics and policy correspondent at bloomberg. Thank you so much for joining us. It was not quite as bad as expected, but it was really bad. The worst since 1947. Where there any bright spots . Michael not really. At this point you have to put this in the rearview mirror. In 1947 in 2008 we saw 1. 9 . 32. 9 lows that out of the water. If youre going to look for anything hopeful in this report, you would look at inventories. ,hey fell by a massive amount 315 billion. That does not normally happen in recessions. When people stop buying, usually inventories build up, and in this case they collapsed. If we do see the economy start to reopen again, companies will have to build more stuff, and that could help the economy get going again. David we have a sense of this coming back by june . Is it that granular . Michael we do not have a sense. We look at the monthly numbers and we did see real collapse in april and may. In june things started to get better and that took some of the edge off. The trade numbers we just got this week showed the trade deficit narrower than expected, which means good news for gdp. What everybody is watching and what jay powell of the fed was on about quite a bit yesterday was the highfrequency indicators weve been getting since july 1. They seem to have been rolling over, the number of people who are getting on airplanes, the number of people making restaurant reservations, credit card sales, that sort of thing, those numbers have slowed down, and it does suggest the economy, if not going back into contraction, at least has stalled. David at the same time, when you go down as much is 33 annualized rate, doesnt that mean q3 has to be positive . Michael is why some people see a vshaped rebound. The problem is 33 going down is not 33 going up. Youll will have to gain a lot more going up to get that kind to get back to where you were , and people thinking that will take well into 2021 or 2022 until we get to where we worked at the end of 2019. You can see the falloff and how steep it is. While we may get a bounce in the Third Quarter, is not going to make us whole. David these comparisons must be awfully difficult to make, but i am struck by the fact that europe which had a horrible situation with coronavirus is not going down 33 . Look at china. They have had a tough time. Why are we doing so much worse than the rest of the world . Michael you have to compare them on a nonannualized basis. Germany put out there gdp numbers and they felt in. 1 quarter over quarter. Ours was a 10 decline. About the same. France and italy are expected to report even worse numbers. The Second Quarter was bad all over the world. It will be a question of how fast other economies rebound, and there are signs they are coming back faster because they have control the virus much better. Our problem is people are still afraid to go out and governments are still shutting down Industries Like restaurants and bars in the United States, whereas they are opening them up in europe. David all roads lead back to congress and the fourth round of stimulus. Get 1s a hope we trillion, 1. 75 trillion, pick a number, what kind of help to that give us in the gdp numbers . Michael it depends how they allocate the number. You need some money to keep the people who are unemployed, keep their heads above water, whether 600 a week or 400 a week, you need something to keep the people who are not going to get their jobs back quickly afloat. Then you need money for states and localities because they have spent so much and taken in so little in sales tax revenue that they will have to lay people off if they do not get some kind of help. David thank you to Michael Mckee reporting on the gdp numbers. As weve said before theres a funeral in atlanta, georgia. That is dr. Martin luther king jr. s church, this is the funeral for john lewis, the late great civil rights leader. We will listen to a little bit of andrew lawson, and activists, speaking. We will hear later from former president barack obama. W we did not plan it. We all lived there. When Kelly Miller Smith david this is balance of power on bluebird television and radio. The stock of the hour is ups. Surging the most in one day in 20 years since most of us are getting ups trucks at our house delivering things. Kailey leinz is here with report. Tradingups is up 16 , at a record high. They blew it out of the water in the Second Quarter. In this stayathome world where ecommerce is booming, that means a lot of online orders have to get delivered. Average quarterly volume jumped 23 in the quarter driven mostly by a 65 surge in residential delivery, and that led to a 13 jump in revenue in the period. I would point out analyst thought revenue was going to fall on a year on year basis. This is a huge upside surprise and a big surprise on the bottom share,arnings of 2. 13 a which doubled analyst estimates. If there is a negative spot, it is the margin pressure. Yes we are getting a lot more at home deliveries, but not as many businesstobusiness, and businesstobusiness is the lucrative one. The domestic Profit Margins are weighed on by the fact this is more at home oriented. I would also note ups did not provide any Forward Guidance because of the uncertainty surrounding the recovery. On the call, executives did say they expect demand growth in the Third Quarter to be lower than it was in the second, but this is a positive report from ups and clearly the market is taking it that way. David good to know all of the money we are spending online is benefiting somebody. Thanks to kailey leinz. Coming up, we will talk to Michael Feroli, jp morgan chief u. S. Economist about the abysmal economic numbers. Jobless claims numbers. Where is the u. S. Economy and where is it headed . We will ask Michael Feroli of jp morgan. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Gdp numbers for the Second Quarter in the u. S. Came out almost as bad as we expected, down an annual rate of almost 33 . If that were not enough, jobless claims remains stubbornly high. We welcome now Michael Feroli, chief u. S. Economist at j. P. Morgan securities. Your note says it all, is a shocking but not surprising. Michael estimates for this quarter have been pretty bad since the end of march, early april. It was not a prize at that time that shutting down a large portion of the economy, even for a few weeks, would have a developed hitting effect on the growth rate. We got pretty much where we were looking for, the composition was also similar to what we expected, consumer spending, restaurants, theaters, things of that nature took the biggest hit. Obviously, the question is what thisns next, given that was so will telegraph. You are correct to point to the jobless claims numbers. They give us a highfrequency look at the economy. One of the interesting things about this covid experience is how the whole economics profession and Financial Markets have put so much effort into getting things that are available on a weekly or daily frequency. But one that has meant is that the monthly and quarterly numbers that we often look at i dont want to say stale but we are looking ahead to what july may hold. Some of the indicators about what july may hold looks quite a bit softer than the rebound numbers you had. David the jobless numbers we get every week are helpful, but some are relying on numbers that come out even faster, mobility numbers. What are you seeing there . Increasing number of credit cards, debit cards from us aank, so that gives daily look at how spending is going. It seems like the recovery in relativein july slowed to may and june. It does look like july spending will be up relative to june, but remember in may and june, we had big rebounds. That appears to be peter and out a little bit in july, late july. That suggests, gives us a signal that it is consistent with jobless claims. Not contraction but a slower pace of recovery. We dug into such a deep hole in march and april, we need rapid rates of growth to get back to where we were. What we are seeing in july is that we may not be achieving that. That is a bit of a concern. One thing i would point out, given what we know about may and june it seems like the levels of activity was above the Second Quarter average. What that will mean is, even if july,ve sequentially soft august, september numbers, you still get a boomy thirdquarter gdp number. David the big question is when we get back to where we were. A lot of us are like the kids in the back of the car, when are we going to get there . Initially, people were saying maybe by the end of the calendar year, and that the First Quarter of next year. , in are you looking at realtime on the bell curve, to get back to where we were . Growth we dont have getting back to the Fourth Quarter of last year, even into next year. We have a pretty slow recovery. At the end ofdp next year will probably be 5 below that we thought it would be. We believe there is some permanent damage to the economy here. The question probably for most people in terms of when we get there is when do we get back to full employment . Quite some time, it is very hard to see. We have had some rapid improvements the last two months. Back. Ghed workers went that is kind of a onetime dividend. Going forward, it may be hard to sustain health types of numbers. Reportiday, the marquis will be the july employment report. We will see if we get further improvement there. Now with the Unemployment Rate at 11 , getting 25 is a 5 is long journey to a pretty long journey, i would say. The kids in the back of the car should be patient for the time being. As you look at those projections, do you factor in or stimulus . Th round of as we speak, we are waiting for congress to come to an agreement on a fourth round. Are you assuming there will be, what difference will that make . Michael we are assuming it will be at least 1 trillion in size. Without that, we would be looking at a pretty huge fiscal cliff in terms of thirdquarter incomes. One of the interesting things in this mornings report was just how strong disposable Income Growth actually was. That sounds a little strange that we are a recession and we have record strong disposable income, but that was all due to the stimulus checks and unemployment spending. Weenps we do want to ourselves off of that over time, turkey,e do that cold im afraid we would have a big fall in income and presumably consumption. Our forecast assumes another stimulus. It seems like both parties at least conceptually agree with that, at least the stimulus checks seem to be an area of common ground. They are fighting over one of the main points of contention. Have an interesting where we have a lapse in those payments. We just mentioned that we are now looking at daily spending, daily numbers. Daily frequency, whether the 600 are having a big impact. Weaningou talk about ourselves off of it, maybe gently. Think wenomist, do you can learn to live with this disease and grow the economy, or are we going to have to keep building these bridges on the economy, fiscally and monetarily, until you get a vaccine . Michael i think building bridges is the right way to put it. We had hopes in the spring that without a vaccine we could still have enough control over the virus that activity could return to normal levels. Given the experience of the past several weeks, that is looking on the optimistic side. Without a vaccine, i dont think we are necessarily frozen in april levels, but it seems hard to get back to january levels. [indiscernible] states that had reopened perhaps a little too quickly [indiscernible] david thank you so much. Always a pleasure to have you with us, Michael Feroli. Now for bloomberg first word news, we go to mark crumpton. Mark because of the coronavirus pandemic, democrats are scaling back plans for the democratic convention. They will meet for just two hours in milwaukee. Joe biden is expected to accept the partys nomination on the final night of the convention. Ballots arell cast mostly beginning next week, and everyone attending in person will have to wear a mask. The coronavirus pandemic continues to hit florida hard. Newstate reported 253 covid19 deaths today, the Third Straight day of record fatalities. The states Largest School district announced it will begin the school year virtually on august 31 despite a push from Governor Ron Desantis to have districts provide an in classroom option. Secretary of state mike pompeo says the u. S. Has warned russian officials about all threats that russia poses to the u. S. Secretary pompeo would not say whether he had specifically raised allegations that russia was paying bounties to the taliban to kill american troops in afghanistan. Wednesday, President Trump said he had not discussed the allegations with russian putin. Nt vladimir the European Union is extending stanchions against north korean officials and agencies because of their continued efforts to develop nuclear missiles. Sanctions will be reviewed again in a year. The eu has imposed sanctions on several countries, notably iran and venezuela, but the measures against north korea which were first introduced in 2006, are its toughest. 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. Thanks so much. Coming up, the United States is heading back tomorrow is, and it is not the only one. We speak to nasa administrator jim morhard on what could be an historic mission. That is coming up next on balance of power on Bloomberg Television and radio. The countdown to mars continues. Launching the next generation of robotic explorers to the red planet. David this is balance of power on Bloomberg Television and radio. Im david westin. Launched the, nasa perseverance rover to go to the moon im sorry, to mars to do exploration. There is the rocket. Welcoming now the deputy administrator of nasa, jim morhard. Thank you so much for being with us. Give us a sense of what exactly this Perseverance Mission is, how complicated is it, and why are we doing it . Jim an honor to be with you. Thank you for having us. Perseverance launched today, and this is the dawn of a new space age. This is the Precursor Mission in anticipation of astronauts going to mars. The president has told us to get to do that but also ultimately we have to get to mars. There pickingl be up samples that we will return on another mission, back to the earth. It is really part of a roundtrip mission to another planet, which will be the first time ever. We also have a helicopter on it. We are going to see if it can fly. About four pounds, four feet long. We are going to see whether we can use it, one, as a possible in the future but also as a communications relay, if our astronauts get away from home base or the rover. David so much fascinating stuff here. Thehelicopter, i understand atmosphere is much thinner on mars than on earth. What are the challenges to flying a helicopter in much thinner atmosphere . We have been training at the jet propulsion laboratory. The density of the atmosphere on mars is one third of that on earth. It will be challenging, but that is my we are sending it up there, to see if we can do it. We try the impossible at nasa, and this is one of them. David i didnt realize that you are sending another mission to retrieve samples and bring them back. That has never been done. When do you hope to do that . That mission is called mars sample return. The hope is that they bring those back by 2031. David we are not the only ones shooting for mars. China has a rocket going up, uae. Give us a sense of what they are doing, what we are doing. Has beent of all, uae a great partner, and they are working with three universities in the United States for their mission called hope. We are right there with them. The administrator and myself were on the phone with them a few weeks ago. That has gone well. Yes, china is also sending up an orbiter and hopefully a rover. That wantseveryone to Work Together in space. It is abouthat, safety, sharing data, being timely with sharing that data all of those things are so important. Bring the world together, and that is what we are trying to do. David one of the things that strikes me is you are having a mix of public and private enterprises. We have certainly seen it with spacex. Is there a role for the private sector for something as far away as mars, or more for earth orbit . Jim thank you for the question. We Just Launched our to the new astronauts last month. Hopefully, they will be coming back on sunday. We will be going to Mission Control very soon to start preparing for that return. , at nasa, in the apollo era, we built and launched rockets and cap tools. Today, we want to be a customer to the likes of spacex, boeing, blue origin, or others. You know where we are with the current economy. That wethe only way will be able to continue deep space exploration. Is nasa going to continue to be involved . Absolutely. But in the meantime, we need the commercial marketplace expand in low earth orbit, take it to the moon, and that hopefully farther out to mars. To thewe spoke administrator about commercial applications with respect to earth orbits. Are these commercial applications for mars . How can a company make money off of that . Jim we are going to prove a lot of this out. The president has told us, get to the moon by 2024. We are going to have the next man in the first woman at that time. The real intent is to prove that what we need to do and no i4 we get to know before we get to mars. Part of that is what we call situ resource utilization. We know there is water ice on the moon. We are going to try and harvest that and see if we can use it. Very importantly, we can turn hydrogen to fuel. We know there is water underneath the surface of mars. Have to take steppingstones to get to the moon, but the gravity will of the moon is 1 6 that of earth. It would be a lot easier to launch the infrastructure from there. We may be able to do that on mars, too. It is about getting too deep space economically. Ofid you mention a lot economic challenges, but we also have some biological ones. How important is it for us to be reaching as far as mars right now at this point in our history . Jim you think about what we have done, all of the things up all of brought to us. This camera that im through with you would not be here if we did not have a apollo. The digital revolution occurred, many other things we got from that effort. To be inventing many new things with this effort. David it is very exciting for at the time. Around i was a teenager at the time, brings back some really fond memories. Jim you think about it, this splashdown that is coming with the commercial crew, half of america have never witnessed a splashdown like you and i did. I think that will be even bigger than what happened today. David fair enough. You are making me feel my age. Thank you so much. That is jim morhard, deputy administrator of nasa. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. There are some of us left to remember the old kodachrome film before smartphones. Hask, the maker of that, fallen on hard times, with the shares going as low as two dollars, but surging this week to 37, after the Trump Administration issued the company a 76 million loan. We spoke with the ceo of the u. S. Financial development corporation, who is issuing alone. When we got this authority, our goal was to say how do we ,nsure no matter what happens that americans are safe and secure. One of the first focus areas was Generic Pharmaceuticals. 90 of the drugs that we take every day are made in china, outside the United States. We said how can we bring those home . How can you sleep well at night if you dont have domestic manufacturing . Youd think about what codec does historically. They make film. How do you make film . It is a chemical process. That is how you make ingredients for Generic Pharmaceuticals. They came to us and said we are going to repurpose these factories. I was at their campus yesterday. Billions of dollars invested. We are going to repurpose this and make basic Building Blocks for pharmaceuticals. Untold stories, one of the optimistic stories, breweries and distilleries making Hand Sanitizer is. Now a film Company Making hydroxychloroquine. What was specific about their application . We got a ton of applications. They had a huge advance order. This is not a handout. This is about investing in a company that is not only going to produce 25 of the Generic Pharmaceuticals we need, the ingredients, but it will be financially sustainable for the longterm. They had advanced purchase order, and we were able to give them that money. I knew that we would build a brand, we would make america safer, and we would make money for the american taxpayer. From a National Security perspective, you mentioned in different parts of medicine, the supply chains that are utilized by china. As you review process for other applications, what are you looking for, how important is it that the usb stronger domestically . We all buy power off the grid but a lot of people have backup generators. You cannot be dependent in critical areas on foreign countries. It doesnt mean that you dont leverage, but we need a core competence. Through areato go by area, are we making the ppe we need here . One of the things we need to know in the context of this pandemic is you learn lessons. You take those lessons so that this does not happen again. We are going area by area to identify they made that huge loan to kodak. Coming up on radio, we will talk about those antitrust hearings yesterday. This is bloomberg. You say the customers make their own rules. Lets talk data. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept. 5g, everybody is talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item, corner offices for everyone. We just have to make more corners in this building. Chad . Your wireless, your rules. Only with Xfinity Mobile. Now thats simple, easy, awesome. Switch to Xfinity Mobile and save up to four hundred dollars a year on your wireless bill. Plus, get two hundred dollars off when you buy an eligible phone. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Welcome to bloomberg markets. Here are the top stories we are following from around the world. Narayana kocherlakota joins me to discuss the fence messaging this week and how the u. S. Economy can recover as we digest some eyeopening data. Infrastructure spending could be a possible way to help the rate recovery. The ceo of Martin Marietta materials joins me to discuss what needs to be done to fix the aging u. S. Infrastructure. Later this hour, youll hear from randi weingarten, president of the American Federation of teachers. Her union voted to support their members who chose to strike, while stressing such actions should be a last resort when figuring out how to reopen schools safely. We have seen in recovery since this morning when we opened
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