Kenya has never experienced a confirmed case of the disease. The current outbreak has killed more than 1400 people. Fans areraptors jamming downtown toronto. You are looking at live pictures. They are holding a parade for the nba champions. Million people are expected to be in the parade, including Prime Minister justin trudeau. The raptors are traveling in openair doubledecker buses. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 in new york, 6 00 in london, 1 00 in hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and from around the world we are following. The fomc walking a tightrope between tricky trade policy tradeoffs and fragile global growth. The fate of the aca. We will talk to the Emblem Health ceo on why the moves to dismantle it are causing Health Care Prices to rise. Humility over hubris. The boeing ceo speaks at the paris air show, saying the number one focus is safety, but boeing says it is open to a name change for the grounded 737 max. All that in the next 30 minutes. We are halfway into the trading day. Taylor riggs has some details. Taylor what caught my eye was the s p 500. The median average analyst 2950, so thereill is room to the upside that strategists are seeing by cutting the profit forecast for the end of the year. My eyes are always on the russell. The big performer despite a weaker dollar. You see these small caps continue to outperform. If you come into my terminal, it is all about health care today. Within the russell 3000, you are seeing the Health Care Sector up 3. 6 . Some of the individual stocks moving are all about the big biotech firms. Forer had purchased a rape a 62 premium on their stock, which closed at a record on friday. Clearly betting on a pipeline cancer drug on array. They are up 57 . Drugsre pipeline of colon as well. Biotech in focus. Another conversation we always have is about tariffs. Recently, we have seen corn, wheat, soybeans take a hit from lack of demand from china. In the last week, that has not been the case, given the poor weather going on. You have the crop season really at risk. , we have an index showing the planting season. Only 83 of the way through. As you can see, it is always about the weather, when it comes to these corn, soybeans. In the last week, getting a surge. Vonnie taylor riggs, thank you. Traders are watching jay powell when he speaks this week. The consensus is july will likely be the soonest the fed will ease monetary policy. Joining us now is the senior u. S. Economist at bloomberg economics. Has anything changed in the last few days . Weaker housing data, Empire Manufacturing data showing a recession could be on the table. Business sentiment is deteriorating, which means consumers once again will have to handle growth altogether. We will continue to see gdp growth being driven by Consumer Spending but other sectors are really contributing to less of a degree. I think the fed will take note of that when they meet this week. Upgrade theobably description of Consumer Spending , at the same time, noting the rest of the economy is not doing that great. Vonnie if that happens, will traders price in something new, or alre we already priced in for a rate cut . It is premature in our view. What would a rate cut do at this point . Would it help Economic Growth at this point when the Unemployment Rate is so low and Consumer Spending is doing just fine . It is really probably going to help the stock market but will do very little to spur Economic Growth at this point. Vonnie how concerned is the fed, if a rate cut will not help, and inflation is not where they want it to be, what are they supposed to do . I guess what they will try to do is reassure the market once again that they are there, ready to help the expansion, trying to send a dovish message at this meeting. The fed is facing a lot of challenges. Chair powell will be facing a lot of challenges at the press conference when he tries to transitory he calls weakness and inflation. It does not look like it is transitory anymore, because we did see a rebound in apparel prices and airfares, but it didnt really help consumer inflation at all. A lot of challenges. Vonnie what do market of stanleys takmake fischer saying that, would not. Nominated if powell not be renominated . That is something that could put us into recession next time around. I think it will hurt the feds credibility. It will hurt how we see monetary policies being done. A real possibility, if President Trump is reelected, that chair powell will not be there for the next term. Changes ataking of the head of Central Banks, what will mario draghi say today that might incur some confidence . Bemario draghi will try to as dovish as possible. What is really important for the , against the backdrop of other Central Banks being very dovish and patient, and may be getting ready for more easing, is the u. S. Dollar. The strength of the u. S. Dollar, at this point, will hurt the manufacturing sector. Abroad, theolicy fed might consider to be more easy as well, not to allow the strength of the dollar to continue. Vonnie thank you very much. Our bloomberg economics. Up, karen ignagni, ceo of Emblem Health. President trump making moves to take on the aca. She says they have had the opposite effect and have caused Health Care Costs to rise. This is bloomberg. Vonnie this is bloomberg markets. Im vonnie quinn. Attemptt Donald Trumps to transform American Health insurance is almost complete. He threatened to use executive power to do what congress failed to legislate. Next week, he invest the last set of rules. Thanks to the changes we are estimated 11 million americans will now choose their own plans with the help of the hra. This will increase the size of the individual market by at least 50 , improving choice, promoting competition, and lowering costs for the american people. Us now is karen ignagni, president and ceo of emblemhealth. She had been an advocate of the aca and critic of the Trump Administration in the past. That was friday. More recently, you said that he would overhaul the aca once more , would unveil that in a month or two. How concerned are you about the next phase of what President Trump wants to do . Karen the most important thing is to step back and for us to have a broad discussion about the future of health care, which is happening organically in the political arena anyway. What we are doing is going back in north, what is the role of government . That underlines the whole discussion. That is a fine and fair question to debate. For us, in the Health Care Sector, its important for us to step forward and demonstrate what we are doing, why we are worthy of the trust of the american people, what we are providing, how we are providing access, and what we are doing to reform, restructure, and transform health care industry, which is what Consumers Want to hear. Vonnie that is all well and good, but it congress decides do something, or if the president as the president says doesnt matter with the Health Care Sector is doing, wont it be legislated . Karen we have seen some regulation and thus far. It is important for the sector to respond to that. We have responded to that. We have put affordable products in the market. There is a little bit of an overhang, however, with respect to the aca. Our people required to participate . As health plans, we are required to make our product available, but we see people now not participating, which has an impact on cast. Cost. Some of the younger and healthier people are not necessarily participating. That forces the cost of for everyone. That is a discussion we will have in the forthcoming president ial campaign, but its important for the industry to step over and ask, what to do about that . New york state has stepped forward, new jersey, connecticut, others are stepping forward and filling in that gap, defining those answers. You are the largest notforprofit insurer, 3 million in the tristate area. What are you saying then . Karen its important to step forward and provide some opportunity to give people a roadmap. Vonnie what does that mean . Karen it is important for people to understand that there is a route to reducing cost, to get everyone in. To have the younger and older people involved in a pool that actually puts the cost where it should be, balances them. Right now we are out of balance. That is what states have done, new york state, connecticut, new jersey. They are wrestling with this effectively, which is good. Our job is to provide the information and data to give them a roadmap on what they can do to solve these problems. That yout strikes me are bound by what the legislation is, so if there were to be, for example, an upset in one of the more leftleaning democrats winning the election, you might be looking at something different, even a radical overhaul. Karen you can always look at something very different in the future. Our job is to respond to the here and now and prepare for the future, whatever the externalities maybe. We are putting products out in the area to change the focus, to put the focus on value in the healthcare system, as opposed to volume. We have had a fee for service system. We are searching that switching that, working with our provider partners to do that. Vonnie is there anything wrong with the aca as is . Karen the aca was laid out to get more people into the system, and it did accomplish that. Some of the recent changes in congress have made it more difficult for individuals to actually achieve that objective. What states are doing is they are stepping forward and looking at what they can do to ameliorate some of these impacts. That is where we are now. What happens, per your question, in the future, is another thing entirely. Doe have to do is with is deal with the here and now, and bring a Delivery System that gets the most people in, getting the cost down, and improving quality. It is the triangle of issues. Vonnie drug pricing . Karen a significant challenge. Without a doubt, prices are too high. We have to have a direct discussion about what is driving up prices, why are they so high, and what to do about it. One of the things that worries me is, we are talking around that, talking about everything about the fact that the prices are too high. They are being set to high. Too high. Vonnie we look forward to all of those discussions. Thanks to karen ignagni, president and ceo of emblemhealth. Kamala harris is running for the democratic nomination for is having tot she defend her record as a california prosecutor. That story is next. This is bloomberg. Vonnie this is bloomberg markets. Im vonnie quinn. Boeing ceo Dennis Muilenburg says he expects the grounded 737 max jets to return to the skies by the end of the year but possibly with a new name. He was speaking with guy johnson at the paris air show. They talked about plans to fix the jets, working with regulators to get the jets certified, and when the maximum fly again. We are very focused on safety, that is our paramount focus here. That is the tone for the entire show. We are making solid progress on bringing the max back up, working through the certification, simulation flights this week. We hope to schedule the certification flight test shortly and get the planes back up in the air. All of this is being done through the lens of safe the. We will take whatever time is necessary to make sure the plans are safe and 2019, 2020 . By the end of the year, certainly. I dont want to give you a specific timetable. We expect it to happen this year. Are the regulators going deeper than you anticipated, is this a more thorough examination of the aircraft . It is a thorough examination and we encourage that. The faa, regulators around the world, about two weeks ago, the faa hosted by multiregulator forum in dallas. We are working with the bodies around the world. Its important that we do this in a disciplined and thorough manner. You keep emphasizing thorough. Are the regulators going in farther than you would have expected initially . We are going deeper than normal and that is good. We are looking in every dimension of the max, the Software Updates we are making. Not only the aircraft itself but the training, education materials, overall and two and design and certification process. Are the regulators on the same page . They are well aligned and i see growing convergence between the regulators. A lot of questions we are answering, detailed work on the certification. We are encouraged by the collaboration between the regulators. Aircraft think the will fly first in the u. S. And that in europe, same time . I think theres an opportunity to do it together. I know there are meaningful discussions happening as we work through certification. We will do whatever the regulators want to do. Your sense is they are getting closer together than farther apart. Is there a gap . Still some work to do but clearly, the trend is they are converging. That alignment at strength. Where are the chinese in this . They are part of the discussions as well. I see convergence across the world in that group. Our focus will remain steadily on safety. Vonnie that was guy johnson with boeing ceo Dennis Muilenburg, going up 2. 25 today, 10 this year. Kamala harris rose through the ranks as a prosecutor in california. Now as a senator running for the democratic nomination, her background is making some in the party question her progressive credentials. Joining me now is tyler pager. How is this going over with voters . Taking extra steps now to defend the decision, to be a prosecutor. I was with her last weekend in las vegas and she talked more directly about the decisions she made to be a prosecutor, painting it in personal terms, trying to fix the system from within, as opposed to being an activist on the outside. There are still some questions among Democratic Party leaders, rankandfile democrats about whether or not she is progressive enough, and about that record on crime, but a lot of people said that she is making strides to defend that record and some say that she does not need to defend that record because she was making changes from within the system. Particularly as a woman of color, important to have representation in those rooms. Vonnie first woman elected and San Francisco district attorney, and then as California Attorney general in 2010. Phenomenally qualified. Maybe she had to take some positions in order to rise up the ranks, but the question is, can the person who did that change their mind on certain truancy,or example, police brutality, other issues . Truancy was one issue i heard from voters. She was in las vegas and i are spoke to i spoke to one woman who had some questions about the senators positions on truancy, whether she has grown from those positions. A lot of conversations among democrats about whether or not that background should be something that is held against her. The majority of people i spoke with in las vegas said that that should not be held against her, but some still have questions. It,ie she is embracing proud of it, using it to her advantage. She thinks it will win her the her critics call her a cop. It, even defending talking about her family when she graduated law school, was skeptical about her becoming a prosecutor. She said, i think we need to be inside the system to make changes. She comes from a family of activists involved in the civil rights movement. Were outside protesting, which is important, but we also need a seat at the table where the decisions are made. I understand there are criticisms about the criminal justice system, and i agree with those, but i want to be on the front lines to help make those changes. Vonnie tyler, thank you. We will see how this plays out over the next couple of months. Protesters flood the streets of hong kong this past weekend. The contentious legislation suspended. Where the city goes next from here. That is coming up next on bloomberg markets. This is bloomberg. The latest innovation from xfinity isnt just a store. Its a save more with a new kind of Wireless Network store. Its a look what your wifi can do now store. A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Mark im Mark Crumpton with bloomberg first word news. Asian state tv says former president mohamed mursi, the Muslim Brotherhood leader who rose to office in trees first reelections in 2012 and was removed a year later by the military, collapsed in court during a trial and died. The family also confirmed the news. The Associated Press sites and it judicial official who said the 67yearold mursi had just addressed the court, speaking from the glass cage he is kept in during sessions, and morant that he had many secrets that he could reveal. A few minutes after, he collapsed. Speaking on condition of anonymity, he said, because he was not authorized to talk to the press. The European Union says it will wait or scientific reports on thes compliance with nuclear deal negotiated with world powers before announcing its response. The eu says it will not speculate on what would happen if tehran veers away from the terms of the deal. Iran says it will break the euro byestop limit set by the act world powers in the next 10 days. The interest we have is to keep the nuclear deal in place. We never made a mystery out of it. During the last year, it has become in