Snap, bullish bets pay off as the social Media Company far more users coming back on a daily basis, but can the growth keep happening . The u. S. Department of justice is poised to open a broad antitrust review into big tech, putting off of it, and facebook in the spotlight. Regulators are looking at whether Tech Companies are so big they stifle competition. This ratchets up pressure on tech giants facing scrutiny from europe to capitol hill. Joining us to discuss are a bloomberg tech executive editor, our bloomberg tech reporter who covers apple, and ben brody who covers techs corporate influence for bloomberg in washington. What do we know . Well, not a whole lot. I think what we are looking at complement toof the task force the federal trade commission announced. The ftc and the doj share antitrust oversight. I think we are looking at a complementary task horse. Is especially interesting as we had believed that doj and ftc had split up the companies. At doj would only be looking goo
Lawmakers somewhat presumptuous. And, deep fakes. From trump to pelosi to obama to zuckerberg, no one seems to be safe from videos that are so good that you cant tell they are fake. We speak to one company who says they can. Heads of Companies Back in washington on monday. Trumps top Economic Advisor in secretary called a meeting to talk about the trade war with china. One topic stuck out, the fight with huawei and whether the ban should stand. Representatives from microsoft, intel, qualcomm, and more. What is the latest we know about this meeting . Who was there . What was discussed . The meeting was called basically to hear a view from a business perspective. We do hear a lot about the huawei fight from the hawks and the administration and on capitol hill who obviously are in favor of a total decoupling of supply chains. This is a chance for them to make their case of wife huawei should of why huawei should continue selling. The invitation list was pretty broad in terms of companies
Silicon valley chiefs head to the white house for talks that may lead to the easing of the sales blockade on huawei. Shery we will have more on that big tech meeting in washington and what this could mean for the huawei been later on Bloomberg Technology global link. First, that get you started with a quick check of how the markets closed the market session. A positive session for u. S. Stocks. We saw the s p 500 gain ground, up 3 10 of 1 . A couple of analysts calls, including one on apple, with Morgan Stanley boosting its price target. That actually made apple rally and the biggest winner on the nasdaq. Micron finishing more than 3 higher after Goldman Sachs listed it to buy from neutral. We also have some positive news on the u. S. China trade front. There could be talk about a potential deal in congress on raising the debt limit, that came after the market closed with President Trump saying a deal had been reached. We will have more details later in the show. Meantime, u. S. Ventur
Ban on huawei. Grounding may have serious implications for boeings future credit worthiness. Shery lets get you started with a quick check on how markets closed in the monday session in the u. S. 3 , as we rallied had tech shares leading the gains. The Philadelphia Semiconductor index up 2 . We had some positive trade news on the u. S. China front, not to mention a time of earnings and analyst calls. Apple being the biggest win on the nasdaq, up. 7 , with Morgan Stanley boosting its price target for the stock. We had Energy Shares gaining ground with crude jumping the most in more than a week. Tensionsanu. S. Ongoing in the middle east. Lets see how things are shaping up for the asian market. Pointing tores are modest gains in toto, sydney, and seoul. Tech firms very much interview with optimistic call travel and macron plus micron plus. On the koreajapan parade fund, governmentont, a official from south korea reportedly said the country is preparing a plan for a Semiconductor Test to
Fallout. Deutsche banks sweeping turnaround gets a thumbs down from investors but what will it exit from equities mean for other banks . Tech tensions. Japan says a resolution to the trade spat with south korea is dependent upon souls response. We should hear more about that this hour. Is the European Market open, 29 minutes ago until the start of the European Equity trading day. Bitres look a little sluggish. We are slipping around the Global Equity story. We were slipping on wall street yesterday, slipping in the asian section, slipping back on european futures, slipping and waiting to hear from fed officials, waiting to hear from the fed because the market is betting we will get a rate cut in july despite the strong data on friday and the markets will be looking to test that theory dayshe hypothesis in two of testimony from Jerome Powell. Lets show you where we are on equity markets. Is close to the markets right now, that is something we are watching and watching fed minutes on wed