The foretwoity was an intent. I think thats something that we should all explore. Thank you. I have worked on legislation. Its a little late in this session under your tenure that would create guardrails and prevent these kinds of failures and abuses. I think your comments were appropriate. We allow companies to still do they have to provide Real Transparency which they dont always. Have to reward workers not just shareholders. Senator brown ill close with a statement. We saw earlier this year the pandemic crashing our families, hospitals, and the economy. How the market seized the up. The s. E. C. s recent report on interconnectedness in the market offers insights but no real policy recommendations. I know that you and vice chair and represent duty pute secretary money market reforms were not good enough. It is clear your successor, the next banking regulators will need to reduce risk from interconnectedness and excessive leverage. The economy may in the future will depend on it. Than
Drivers. The company is seeing a 60 drop in parks and Consumer Products revenue. A 62 dip in studio revenue. The numbers are backward looking. Challenges remain in the here and now. You have surging covid cases. Today, we saw the chicago shut down. Cruise returning early. Joe the scene that is a lot of things going on. Lots of good term lots of things going on. The shortterm, losing money on lots of struggling aspects. You see some of the details. Media networks gaining 11 . Studio entertainment plunging. No one is making or going out to the movies. Parks experiences only down 61 should the director of consumer and International Gaming romaine absolutely a microcosm of the economy. Will be interesting to see as they pushed deeper into the streaming space, how they leverage that to go back to the toys, the parts and those things they used to use. Joe joining us with more insight is a Bloomberg Intelligence media analyst. How disneyking about is the microcosm for the whole economy. All o
Now, one third of the economy is back under partial lot. Six more regions in italy saw curves tighten. Florida is bracing for a second hit from at a bank. It now has top sustained winds of 75 miles per hour. The storm has been in the gulf of mexico. Forecasters say the western part of the state could see up to four inches of rain today as well as flash flooding. Global news 24 hours a day on air and on quicktake by bloomberg. Powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. Im vonnie quinn welcome to bloomberg markets. Today inuturn rotation trait. Stocks climbing as big tech rallies. Fromt perspective later on a guest from oppenheimer. I will be speaking exclusively with the ceo, chairman, and cofounder of marathon asset management. Marketsest case for the as coronavirus crashes through europe and the United States. As joe biden ones of a dark winter, Companies Like carnival and American Airlines are racing to raise mo
Unchanged policy. Coming back from the typhoon slower by 116 points. We are talking about hsbc, one of the laggards here, missing out. The largecaps under pressure, 4819 right now. We are looking. When it comes to dollar dynamics, we did see a stronger dollar, which led to a hit. 379 right. 7 now. The china 10 year yield, we just got the pricing on the dollar bonds. Gold taking a retreat. Brent crude Holding Around 42. Tom lets bring you back to the top story in this region. Xi jinping will bring a major policy address later, in the next 20 to 30 minutes or so. Across the border in shenzhen, to talk about an integrated tech corridor to rival silicon valley. Stephen engle is following the story and joins us from hong kong. Steve, what are you looking for in this speech . Stephen i am looking for a better tagline. They are calling this a chinese socialist pilot zone with chinese characteristics. I think the greater bay is the grander scheme. And xily china wants to jinping with a trip so
Slog, which we are in right now. Slog, that is a pretty good way stalling economic recovery. Pandemic fatigue setting in. It is hard to swallow. The worlds better with covid, such a long way to go. Today we saw the pressure put on as investors left without a new stimulus deal and see a spike in cases of covid. Joe, were going to be digging into this slog. Joe it sort of feels like today is the day that its really daunting on people. This is really real. There really is a surge here. If you want to call it a different way. Kind of besides the point whether it is in europe where we are seeing hospitalizations, deaths, and of course cases on the rise. Hospitals in the u. S. Starting to see strains again i capacity. Of course, this is a major theme of the spring surge. Utah hospital starting to prepare to ration care. Reports out of texas, wisconsin, elsewhere. It seems like today was a day a lot of this set in. A lot of opening trade having a bad day. Romaine it is interesting to bring up