Big internet companies, that was the worst sector yesterday. Investors bidding those higher into earnings. One note, something that is not different, supporting the idea fundamentally nothing has changed, investors looking past it, we have a lower low on the s p 500. Sharply,ave oil down heading to the worst week since april. Commodities, and wrist asset down in a bait way. David to add one further complicate in fact are, look at the 10 year. We are above 80 basis points again. That is a risk on reaction. How does that fit with commodities . Abigail great question. You have bond selling off. The 10 year yield back in the top part of this years range, suggesting it will make a move for 1 . That will be wrist on because it would mean investors going out of bonds and could also pressure stocks. On the week, bonds are rallying. On the week we have a big haven bid, big haven bid for the dollar. The dow and s p 500 heading for the worst week since march. We also have crude oil down in a big way, the worst week since april. Right now it is risk off, even though today feels like a reprieve after yesterdays big selloff. David thank you. That is abigail doolittle. Lets come back to the election. Every four years investors try to position themselves in advance of an election, projecting who is likely to win and what they are likely to do. We welcome michaels as asked, mark we michael we welcome michael zezas. You have done a survey of investors in advance of the election. Tell us what you found. Michael we have been surveying investors all along and not surprisingly when we first started surveying investors they were most cautious around the idea of a Democratic Victory. While i would not say consensus has totally swung in the other direction, the outlook appears to be more balanced and does seem to be centered around the idea that a Democratic Victory where they take control of the white house and both chambers of congress probably leads to substantially more expansion, but, and this dovetails what you just mentioned about the 10 year , interestingly while that seems to be the position of most investors, they are not position for higher yields on that outcome. We do not think that outcome is in the price. One key view of our strategist is there is more distance to go on bond yields rising before Inauguration Day if that were the outcome. David does this amount to some form of reflation trade Vice President biden gets elected as president . Michael probably is the answer. Conditions in which that maybe would not be the case or would be more difficult to get there. Is it couldwe have be more difficult to get fiscal expansion through in a timely way without pressure from Economic Data or the markets if joe biden wins the white house and the democrats do not take control of the senate, there could be substantial disagreements about the level of spending. We have seen republicans in the the levels of spending Congressional Democrats and the white house appear to have been interested in doing. In that configuration, it would be a bumpier road. In most of the other configurations, including a status quo outcome where donald trump wins reelection, more or less it is that style of trade we think comes through. David to go back four years, it gotafe to say the markets it wrong about President Trump. They were nervous about President Trump and then got a look at the tax cuts and said they like him just fine. What are the odds the markets may be getting it wrong again . Michael it is a good point and that is why would like to tell investors to focus on plausible paths. There is a difference between Campaign Promises and what can get done. If you asked me this question earlier this year, the mistake was around the idea of a situation where the democrats took control of the presidency and both chambers of congress, because what we saw in our investor surveys was there was a substantial focus on the negative aspects of tax increases and regulation. What we seem to see now is there is more acceptance of the idea that democrats are likely to pursue a heavy amount of spending because that is what bridges the gap between the moderate and progressive wings of the party. Higher taxes, some of that comes along with it, but not sufficient to cover that spending. Annette fiscal expansion. There is some scope for a mistake if investors use that outcome to cautiously, very similar to 2016 with donald trump, where the net policy outcome of a Trump Presidency and taking control of congress was a fiscal expansion. That one was driven by tax cuts. This one we think will be driven by spending. Guy david it is not just a matter of who gets elected president but what they can do. Lets assume for a moment joe biden does get elected. How important is the senate . That seems to be a much closer call according to the polls. Michael it would seem that way. The senate is critical because it represents a difference between an easy path to fiscal expansion, including this covid19 stimulus bill, and a pretty bumpy one. Presidencyn wins the and the democrats take the senate, they will have the motive and opportunity to pass a fairly large stimulus bill. The motive is obvious. They started at 3 trillion, they are down to 2 trillion in this bipartisan negotiation. If they take control of congress and the white house, they would not need to be in bipartisan agreement, and they can take those numbers up. If the republicans keep control of the senate, we have seen their further away from the democrats numbers than the Republican White House is currently. It is unclear how that would resolve itself. Certainly i think you should not conclude it never would resolve itself, but it might take a greater demonstration from wheat Economic Data to persuade republicans they should come up higher to where the democrats are because at this point the position from Many Senate Republicans is we are not sure the economy needs this and we are not sure we should be deficit spending when we have already expanded the deficit substantially. David always a pleasure to have you with us. Zezas ofmichael morgan stanley. Up, david gitlin as we look to Companies Like his to keep the air in our buildings free of covid. This is balance of power on Bloomberg Television and radio. David this is balance of power on bluebird television and radio. Carrier announced strong thirdquarter earnings and up to its expectations for the rest of the year. We welcome the ceo of carrier, david gitlin. Thank you for being here. Congratulations. They looked pretty good to me. Explain what is driving this. David g. thanks for having me. The biggest driver was our residential hvac business in the United States. That business, it was a record quarter in terms of sales. That business was up 46 yearoveryear, it was the best quarter we have had in our 100 year history and residential hvac, and all of our businesses saw sequential improvement from the Second Quarter into the Third Quarter. We are seeing strong progress overall. Medic carrier level sales up 4 , we saw strong incrementals in the quarter. We have done a nice job of controlling cost but also investing in growth and taking share and being aggressive across the portfolio. A very encouraging quarter. If you could break it out this way, how much of this residential hvac business is because of new building, the housing industry doing well with low interest rates, and how much is upgrades. You and ive talked about the fact that upgrading hvac can help on the covid issue. David g. we are about 75 businesses used and 25 new. New construction continues to be strong. We have an outside chair on the new construction side. On the replacement we are seeing continuing phenomenon. It was a warm summer. We are seeing people work from home and put additions on the home so they have a different space for their workspace at home. It has become a priority item for people to invest in their homes, but certainly invest in airconditioning in the summer and heating in the fall. It has been positive trends across the board for record numbers. David what about offices . At least some people are eager to get back to their offices out of working from home. You and i have talked about the fact that having a higher throughput of ventilation with some sorts of filters could screen out the covid virus as i understand it. David g. it is Critical Office managers give their tenants confidence to get back into the workplace. It will come from spacing, but it will, from ventilation. We are investing a lot infiltration, new ventilation to increase the airflow, and a lot of it is not only improving the Indoor Air Quality, it is also giving customers an indication that you have improved the air quality. It is making it more visible to the tenant. If you look at all the elements of i8 you, they are tracking to what would be a high level. David another thing ive noticed is you are working with Amazon Web Services for temperature sensitive cargo. You have an operation. What that brings to my mind is vaccines because some of the vaccines have to be cap pretty cold. David g. first sure. Depending on what vaccine youre talking about, either 20 degrees or 80 degrees celsius. The challenge you have is not only will you need dramatically more capacity globally, but you also have a series of handoffs as the vaccine goes from one step to another. Everyone of those handoffs presents a problem where you may lose the cold chain. It is critical it be kept cold throughout the cycle and that it needs to be administered within six hours fitting room temperature. The partnership with aws provides one source throughout those handoffs. Once you have all of the data on a single cloudbased solution, which we are calling are linked solution, now you can apply Machine Learning. You can understand how long the door is left open, how the how will that affect the efficacy. Get all of the data in one location, use Machine Learning in ai to better analyze the data to provide more exclusions. Guy how much of the david how much of the wind in your sales is a result of covid, and i ask that because it does not look like covid is going away anytime soon. We assume it will at some point. Is this a matter of just a year at what you think there is more Sustainable Growth in the longerterm . David g. more growth over the same time. When we talk about Indoor Air Quality, one of the questions is does that whole phenomenon go away once there is a vaccine component. What covid has done is shine the light on the criticality of Indoor Air Quality. We spend 90 of our time indoors, so if you are you have spent 40 whether you are looking at vaccine type filtration systems, filtration system for things like covid, or you looking at other things that impact Indoor Air Quality like asthma or allergies or other things, the focus on Indoor Air Quality david we know carrier well in the United States but you are a global business. Tell us about china. How is it going and has the strain in relation to the United States and china affected your business . David g. no it has not. In china our orders were up 10 and the Third Quarter. It is the strongest market weve seen over the last two quarters. We have a strong presence in commercial hvac and refrigeration. , less than at china 40 of the meat china gets distributed in the cold chain fashion, but in the United States it is more than 90 . The opportunity for accelerated , of course hvac systems is phenomenal. Our relationship in china is superb. David carrier is a relatively new company as a Standalone Company and youre a recently new ceo as head of that Standalone Company. As you look at your profile, where you see the greatest strategic opportunities for your Company Going forward . David g. our overall strategy at a carrier level is to focus on healthy and sustainable building cold chain solutions. They are all tied into those two ecosystems. Building and cold chain solutions. There are a couple there is one unique area within the hvac space because we are a small player primarily based in asia which we will be the biggest player in. Anything that rounds out our portfolio. Anything an ecosystem associated with healthy and since it will businesses and cold chain solutions. David are you in the market for acquisitions and mergers . David g. we are. We just reviewed our longrange plan with the board and we feel confident in our ability to create a gift get shareholder value by putting our heads down and sticking to our plan. We talked about taking cost down, originally 600 million of costs over three years significantly ahead of plan. Our cash performance has been significantly better than we had anticipated. We came out as a Public Company in april with 1. 3 billion on the balance sheet. We will pay down 1. 5 billion dollars of debt in the Fourth Quarter. We see a great opportunity for organic growth. Our focus is executing on our gains and we will do our focus is on executing. David thank you so much for taking the time to be with us. That is carrier president and ceo david gitlin. We turned out a Mark Crumpton for bloomberg first word news. Mark thank you. President trump and joe biden are both appealing to lastminute voters in the battleground state of florida. The two will hold events today in tampa hours apart without florida without floridas 29 electoral votes, the president s path to winning a second term would be exceptionally difficult. The Uks Labour Party has suspended Jeremy Corbyn after he failed to fully accept the findings of a report into antisemitism within the party. Labor faced repeated accusations of antisemitism under Jeremy Corbyn leadership. The labor leader said it was a day of shame for the party and vowed to win back the trust of jewish members, staff, and politicians. Greece will tighten restrictions after the country reported does go Straight Days of record increases in coronavirus cases. Another three regions will be placed on lockdown. Face coverings will be mandatory both indoors and outdoors for those areas and a nighttime curfew will be imposed. The Prime Minister said unlike the lockdown in the spring, shops and schools will remain open. The World Health Organization says the coronavirus pandemic has reached what it calls an alarming juncture in Eastern Mediterranean countries. The who says the area is seeing its highest weekly covid19 numbers since the beginning of the outbreak. Officials say more mask wearing and social distancing are needed in the region to help stem the spread of the virus. 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. I am Mark Crumpton. This is bloomberg. David thank you so much, mark. Still ahead, we talk exclusively with nancy pelosi about what the country needs economically and her plan to get us there. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Time for a check on the big tech companies. They will be reporting earnings today. Joining us is scarlet fu. This is a big day for tech. Massive day for stocks overall. Yesterdays broad market retreat gave way today to a bounceback. And investors encouraged by the Third Quarter gdp print and improvement in jobless claims and we have seen big tech play a starring role all week. Yesterday with the hearings in terms of price action. They led the way down and today they are leading the recovery. Investors waiting for results from four of the five biggest names. Apple, amazon, alphabet, and facebook. Twitter is due to report after the close. The names are gaining as results from smaller social Media Networks in recent days show the Online Advertising market is doing just fine. It is thriving. One of the things i want to highlight is pinterest. It cap higher at the open. There is the vertical line up today. It is now in a record high. Third quarter revenue tops at the highest analyst estimate. Snaps betterthanexpected results last week that Goldman Sachs and bank of america to upgrade pinterest. You can see the move higher on the 21st. A lot to be excited about if you look at some of the smaller players. David the question on my mind is can you get too excited when it comes to ad revenue . We saw that gear before the Senate Commerce committee, talking about regulations of big tech. One of the facts that jumps out is how much of ad revenue is attributed to virtually two companies, google and facebook . Is there a danger as they are too successful they will get regulation . David g. that has always scarlet that has always been the case and that is certainly a headwind going forward. For now the picture is pretty good. Overall ad revenue expected to slide from the first half of this year. Moving in the right direction. We will see a 12. 5 sequential increase and more importantly up 7. 5 . The focus will be on the outlook and we are talking about the more immediate outlook, whether at revenue will be on track to match if not top the Fourth Quarter of 2019. If the Companies Avoid putting hard numbers on their projections like they did earlier this year, that would be a big blow to confidence. As you mentioned there is a lot of optimism baked into big tech share prices, so much show that when you look at how alphabet is performing, up 16 in 2020, that pales in comparison with the rest of the big tech names, up from 30 to 70 . When you look at the market overall, the backdrop is without the price action of big tech, the market would be in a very different place. The rest of the s p 500, excluding the Companies Due to report today, would see market cap down 1. 3 trillion, whereas the four names see a caps low by 1. 7 trillion. David is a huge day for big tech. That is scarlet fu. Thanks for that report on tech. Next, an exclusive conversation with House Speaker nancy pelosi on the way forward on stimulus talks. Could they come back . We will also talk about the election and much more. Ons is balance of power Bloomberg Television and radio. This is balance of power, guy johnson. Stocks finishing up their day in european trading, another brutal session. The first takeaway you need to take from this chart is european stocks did not bounce today. Horrible price action. Finished down by. 2 . As you can see, this is the last five days. This was the session yesterday. Today, we did bounce back. Over the last five days, down by 5 . We saw a little bit of a bounceback during Christine Lagardes press conference but it didnt do much. Lets talk about the individual markets and show you the differences across europe. Ftse 100 down by 2 . The dax up by. 1 . A lot of action today in germany. The question is, with the lockdowns we have seen announced in france and germany, will carmakers be able to continue with the business they are doing with local dealerships . Today,with numbers strong stabilization. Vw up by 2 . The ceo of nokia saying that he will do whatever it takes to catch up on the 5g front. Credit suisse, the trading story. Others have dominated, but they have not today. Lets talk about the wider assets, the impact of the data that we have seen on both sides of the atlantic. That gdp figure that we got from the u. S. , and the press conference by christine lagarde, where she seemed to promise some action in december. Maybe we could see all options being considered, including a rate cut. We did see the euro going down. Down by. 7 . Getting back over the last few days. The is partly because of virus, partly the policy response. Yields, we have seen an outperformance of the peripheral markets. We see that action coming through from the ecb. Year responding to the idea that we could see rate cuts. A busy day in europe. Back to you. David here in the u. S. We are trying to bounceback on equities. The dow and s p up a little bit. We welcome now a special guest, speaker of the house of representatives, nancy pelosi. Thank you for being with us again. We have heard you say that given what is going on this week in the market, maybe it would be a message to the president that he should really come back with a more affirmative response on the stimulus bill. Gdp ine got news on the the u. S. , up a record 33 . Does that make you think that we may not be the stimulus as much as we thought we did . Speaker pelosi it is proof that we need the stimulus even more so. The fact that we had a better Third Quarter is because of what we did in the cares act, and the subsequent legislation for ppp that put money into the economy. Off, andoing to wear we need another infusion. It is not a question of we dont need it, it proved that it worked, and we need more. , what happened in horrible, quarter was you know that, so we have to keep on the path of going forward, rather than fighting anothernot passing injection of funds into the economy. David i am curious because you have such important say in the economy, where it goes. The gdp number came back strongly, the stock market, although down this week, has been doing well over the past few months. At the same time, 11 Million People unemployed, stories of people having difficulties. Do we have two economies going on in this country . Speaker pelosi a number that is staggering is we have more people unemployed and on Unemployment Benefits at any time that our countrys history. We know that the fed is shoring up the markets so that the stock market can do well. I dont complain about that, i what the markets to do well. But just because we have come back this money doesnt mean that we are almost 1900 points four days. E past the fed is reacting to the fact that the virus is spreading. The markets are reacting to the fact that the virus is spreading. It is reacting to the fact that there is no agreement to inject the resources necessary to support the lives, livelihood, and the life of our democracy. Rolee need that public once again. Right now, we needed for state and local governments. According to the wall street journal, the biggest cash crisis for states and local governments since the great depression. Of thingsall kinds that people may brag about, an indicator saying this, but we have to wonder about what it means for the lives of american people. All the things we have in our zingslation are stimuli the economy. Whether it is food stamps, direct payments, all of those things, earned income tax credit, they are all stimulus. People will spend because they need to, inject demand into the economy, and create jobs, rather 150trickle down, having billion go to the wealthiest people in our country. But we have to act. We are in a fork in the road. The path that the president has been taking us on has been deadly. People,ing 9 million nearly a quarter Million People , 8 Million People falling back into poverty because the cares money is childrenut, 17 million food insecure in our country. Many of those families on the verge of eviction. The list goes on and on. And the virus continues. We have to crush the virus in order to open the economy and our schools. The president has taken us on a deadly path. We have to go on a different path that is sciencebased, adequately funded, and geared toward opening the economy and schools and creating jobs for people. David you have talked about crushing the virus. An important part of the package that you put forward included money for testing and tracing, things that are important to get that done. I know that you still have your door open figuratively to a deal but it looks unlikely before the election. Talk about the lameduck session. Prospectany realistic this could get done in a lameduck session . Speaker pelosi i think last weekend, when the chief of staff to the president , mark meadows, said we are not controlling the virus, he confessed that they never intended to do so. They called it a hoax, that it would disappear magically. What has happened . People have died. Recognition that they had surrendered to the virus, and we are not, we are there to crush it. We can come to the table with a clear understanding in the publics mind of what we need to do. Have hadhat we would an agreement before the election , but they have not ever responded. The secretary and i will come to a place of where this is where we could be, but that is two weeks ago today, the secretary said they were willing to accept our testing language. Happen to beouch erasing 50 of it, largely in communities of color, who are dying at a higher rate than those who are white. Children who are black or hispanic have a five to eight times greater possibility of going to the hospital with covid than white children. They erased all of that. It doesnt make sense. Confessed saying, ok, do not controlling it. You understand that we must. Just give us an answer as to whether you agree that we must follow a scientific path, or if we are going to continue to go y path theuacker president has wrought us on so far. We sent a letter saying these are the answers that we expect. We dont expect them all to be in our favor, but we expect them to establish a place where we can come to a compromise and negotiate, so that we can go forward. The president has said we would have an agreement after the election. Of course, he is predicated some of that on the republicans taking the house. Just keep thinking that, mr. President. As you haveusional been to your approach to the coronavirus. David lets take it a step further. It is obvious stimulus is important, whenever it gets done. More broadly, what is the basic approach the democrats have to the economy . We have a sense of where President Trump would go. Lets assume that because of the election, democrats have it within their power to implement their economic agenda. What would be your priorities, particularly to get those 11 Million People back to work . Jobser pelosi jobs, jobs,. That is the answer to many concerns in families or the economy. In 2018, weand won had a simple agenda. We will over the cost of health care for the people by lowering the cost of prescription drugs, upholding preexisting conditions. That is central to the success of a family. So they dont have Health Care Costs that are debilitating. We would increase paychecks by building an infrastructure in a green way to take us into the future. Joe biden calls it build back barrack better. You can also call it moving america forward. We will have cleaner government by reducing the role of dark, special interest money to influence decisions. Let me say, as a matter of history and example, 2008, when president obama was elected, in the transition, we immediately put our plan together to take us out of the Great Recession that was caused by the meltdown in the financial industry. , weoon as we took office , the that legislation american recovery and reinvestment act. By the president was sworn in a couple weeks later, it was not long before he was able to sign that, saving or creating millions of jobs. We will have to have Something Like that from the start. That is why we would hope to take care of a lot of the costs associated with the virus right now in terms of outlays by state and local government, as well as revenue lost because of shelter at home and other initiatives like that. People, we want to have it so that we can save their lives, livelihood, and a democracy, but for the country as well, we want to get this done so that we can move on to how we grow the economy. How different will it be from republicans . It has always been trickledown for them, it doesnt work, it always costs money. We are for putting money in the pockets of american people, job creation that will grow the economy in a way that recognizes that we are a consumer economy. The more that people can purchase, purchasing power, as well as save, the better off we will be as an economy. This is for the people but also writ large for the economy, recognizing the economic strength of our state, the fiscal strength of our state and local governments having an impact as well. Some freshmane members of congress who are more moderate, more favorable to business, some more progressive. Some on the Progressive Side think that he will move too far to the left if he is elected. Are you confident of your ability to steer the course . You have a pretty wide view when it comes to economic regulation. Speaker pelosi we do have a beautiful diversity in our caucus in every way, and we welcome that exuberance. Joe biden will be the president of the United States. He is a progressive democrat. He may not be to the left of some of the people that are speaking out right now, but i have no doubt that he will govern in a way that brings people together, that unifies our country, that is respectful able topinions, but is Institute Policy that will be sustainable over the long term. It will be in the tradition of a new deal. I say that in this way not just thinking about old ways, but the new deal was about persistence,bold experimentation. Lets think in new, fresh, entrepreneurial ways about how we address job creation, the health of the american people, wellbeing of our childrens future. Nightmare that we are living in right now will be behind us and people will know that all of their views are respected, whether they voted joe biden or not. We are following the guidance of our founders, which we have heard me say over and over again. They knew that we always had to unify to bring people together, to be one. David always a great privilege and pleasure to talk with you a good that is speaker of the house of representatives, nancy pelosi. With five days until the president ial election, we take a close look at the key swing state of wisconsin with former governor jim doyle. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Week, weve been looking at wisconsin as part of our swing state series. Today we welcome the former twoterm governor, governor jim doyle. We bought to hear all about your state but i want to start with something near and dear to my heart, big ten football. Wisconsin had to cancel its game against nebraska because of covid. Tell us what is happening at covid with covid19 in your state. Looks like there is a lot of it right now. Jim we have been the center, and i think the highest per capita for about three weeks or so. Our hospitals are filled, we have had to open up auxiliary facilities at the state fairgrounds for people, we are right in the middle of it. I guess it is highlighted when wisconsin football gets canceled. Not only the coach and quarterback, but a large number of the members of the team. Shape. In very tough wisconsin is a state where there has been a political battle, really the height of how politics get in the way of governing. Governor e verse has worked hard to have mask orders in place. Republicans have thought him every step of the way, they have brought lawsuits against the Supreme Court that has done away with those statewide orders. And we are paying the price for it now. Would have done away with covid in wisconsin, but we would look most like the average state, but now, unfortunately, we are leading the nation. David what is the public sentiment about the steps taken by the governor . In my home state of michigan, the governor took some steps and was sued and things, but by and large, she has been getting support for being tough. Is that true in wisconsin or easily divided evenly divided . Gov. Doyle it is true in wisconsin as well. Every Public Opinion shows 80 of the people support mask particularlyicting the very high spreading kinds of businesses, gatherings. On the other hand, no doubt there is a very strong and vocal chorus of voices, very much a minority, but a very loud minority, who sees this as an infringement on our freedoms, all of that kind of rhetoric that we hear. David how will this factor, if at all, into the election . Gov. Doyle the beauty of elections i ran and won five state races. What i always appreciate about a big Campaign Like this is we will find out. We can all give our opinions now, but in a few days, we will find out what happens. There is no doubt come in my view, that this is the number one issue. There are people who feel strongly that we should tough it and open everything up, that is definitely the horse that the president is riding on in this. But i do think there is a very Strong Majority that believes we should be finding smart ways to open up, but doing it in ways that do not cause greater covid spread. I think the majority the polling would suggest this that this is the issue of the in favor ofy much a better that we have response. David in your opinion, knowing wisconsin the way you do, do you think that covid reaction may make the difference between now and 2016 . President trump did when wisconsin, albeit narrowly, in 2016. Gov. Doyle i think so. It is hard to see even without covid he won such an unusual squeaker here, like michigan. 25,000 votes. For example, if half of the falloff in the boat in milwaukee, and the same is true in dane county, if just of in falloff from that vote 2012 to 2016, if half of that comes back, that more than makes up for it. Party,nce of a third those made up that difference. I think President Trump will have a very hard time winning the state, even without covid. Covid, no doubt he has strong supporters, but most polls suggest that pretty well caps out at 43 . Again, this is all theory, we will find out. David lets talk about those polls. We had one that came out a few days ago that had Vice President biden 17 point up. As a professional, can you believe that . Doesnt it seem pretty extreme . Gov. Doyle yes. Even the pollsters it was a well conducted poll, but if you all of them well things justll find happen to be a certain way. It seemed extreme to me. On the other hand, i do think it indicated probably not a 17point gap but probably it is pretty significant. 17 does not come out of nowhere. It may be off by a significant amount, but that is still a whopping margin. Another poll that came out around the same time showed a fivepoint race. That is where they have been, i would think that is pretty accurate. Someprobably even closes as you get to election day. David no question about it. Thank you so much, jim doyle, former governor of wisconsin. Check out our special on swing states airing friday on 7 00 at 7 00 eastern time. Balance of power continues in our second hour. We are talking to the president of the economic council. This is balance of power on Bloomberg Television and radio. Mark im Mark Crumpton with bloomberg first word news. French president Emmanuel Macron his country will stand firm in the face of islamist extremism, after a man killed three people and injured several others in a knife attack in a church in nice today. The attack prompted the government to raise its security level to the highest level and double the number of soldiers in the country. It was the third attack in two months that authorities have contributed to muslim extremists. Joe bidens Campaign Says if elected he would create a task force on his first day in office to work to reunite the Migrant Children at the Trump Administration separated from their parents at the border. Families detained after crossing the border illegally were separated. The administration did not keep careful track of the children, and now the children parents of 545 of them cannot be located. Last week, biden called that criminal. Is movingtorm zeta