Campaign reelection ad that contained a nazi symbol. It has been a day of lowvolume and not a lot of conviction. What are investors waiting for . Fast a snooze snoozefest, not a lot of volatility. What are investors waiting for . Stocksthree of days, now are stuck. We are seeing a little bit of a haven bid for bonds and the yen. It might suggest a riskoff tone. Waitinginvestors are for a little more information around the virus and if we are going to see new epicenters that could rival what we had a going on in new york a couple months ago, sadly. But now we have moved past it. But could that be some sort of a slowing on the economy . Another look at the possibility of a real riskoff tone, the dollar. It is up for a third day and it is a haven asset. Over the last 10 days, a solid bid from a technical standpoint. The uber dollar index back above the 10 day moving average. The bloomberg dollar index back above the 10 day moving average. In the past, that has pressured stocks. It could set a bit of a riskoff tone. I think it would be around virus concerns if i had to take a guess. Emily a small move for facebook. S well facebook took down a Trump Campaign reelection ad that contained a nazileaning symbol. Facebook has been in the spotlight about how they handle these issues and there are calls. O pull money from facebook is this affecting the stock at all . Headline, but not much on the stock. Facebook did have a volatile day on a relative basis, down more than 1 in the morning. At the end of the day, not a lot of movement. At the year, one point for stock was down sharply and is now up about 15 . This has to do with the march quarter that they reported. Not as bad as expected. There were fears that there could be a situation for social Media Companies. It was made up for by ecommerce. Looking ahead, it seems that we had an interesting conversation. He was telling me that this was the social Media Company that will outperform the most from a growth perspective. They may see a shift in their business model, moving away from dependency on advertising for ecommerce and payments. They have a huge platform to potentially make that happen. In the near term, it could be rocky. Over the longterm, it seems like they have a pretty bright future. Regulation, emily, is one of the big risks. It will be interesting what jeff bezos and Mark Zuckerberg will say in july. That could move stock in the next month or so. Emily testify if he is called. That is something that we will follow. We do not yet know if he will be called. That is the outstanding question. Thank you for joining us. In other big news, a divided Supreme Court has ruled that President Trump cannot and the Obama Era Program that shields hundreds of thousands of undocumented immigrants from you port deportation. They argue that the deferred action for Childhood Arrival Program is illegal. Daca protects people brought into this country. The president tweeting that this is a horrible and politically charged decision. Attorney general, thank you for joining us. Important to have your voice today of all days. A really momentous decision which chief Justice Roberts siding with the liberal ring wing of the court. What is your reaction to this . The second time in a week. The Supreme Court is showing its independence and that it will stand up for the rule of law and fairness. It is conducive to the most just result, to make sure all of these young people have a chance to continue in this country and contribute as they have. Emily that said, the president is saying this is a political decision and not a legal decision. What are your thoughts on that . I think hes wrong about that. Dead wrong. The decision is similar to the courts decision on the citizenship question. The Trump Administration and its policy about immigration generally is basically cruel and pointless. They failed to offer any reason why it makes any sense at all to deport something more than 800,000 people who are studying here, working here, raising families here, contributing to our economy. It makes no sense at all and they did not give a good reason. Because they failed to give a good reason, there was nothing to support their move to cancel this policy. So the justice sent it back to the lower court and said, not good enough. You cant give a good reason and we cant support this policy. Emily apple ceo tim cook came out in support of dhaka daca in the past. In support of these socalled dreamers. What is the interest for the community when we are in the middle of a health crisis, economic crisis, and millions of people out of work. Means that people can breathe a little bit easier. You never know with respect to this administration because they have declared war on americas immigrants. Its clear that not just apple, but Many Companies and employers large and small can depend on these workers. That they will be here for a while longer. We need to make these protections permanent which is why i am using guarded language here. We have to make sure that these protections become permanent. But our economy can depend on these people. That is really important at a time when, economically, we have serious headwind. Businesses large and small have serious challenges knowing that this part challenges. And knowing this part of the workforce will be there is huge. Could President Trump bring this argument again, though they have been told it needs to be better. To, there is a social crisis that we are facing in this country. The deaths of george floyd and rayshard brooks. Does this have you considering or reflecting on how you would enforce the law in your state without resorting to violence . Think this is about fairness and about humans beings. People contributing to our society and our economy, dreamers are really important part of our social fabric. Cater toer them and to the president s hateful and bigoted base really hurts this country in the same way that failing to address systemic and institutional racism and the death of george floyd and the tremendous painandsuffering we are feeling across the country does great damage to this country. I think these issues are linked. At the end of the day, what is needed is leadership from the president and from washington that brings us together to confront these major social, political, and economic issues. He is failing to do that and i hope you can do better in the months and years to come. See a need for Police Reform in connecticut and beyond . I see it everywhere. The painandsuffering that George Floyds family is feeling and experiencing in their community and minnesota is felt across the country. Of law had instances enforcement misconduct and brutality in connecticut. We are trying to confront these issues and we have to do it quickly and comprehensively. No state is immune from these challenges. We know now that the doj and the house are considering antitrust probes into big tech, which is something that we cover on this show. Like apple, alphabet, facebook, amazon. Im curious where your office stands on big tech and if you have taken the position on if big tech needs to be broken up and if this is something that you are exploring. Attorneys general across the country have been leading on antitrust enforcement and investigations. We have a 50 state investigation pending against google and looking into if google has unlawfully used its market power , particularly in the Digital Advertising space. Respectbeen active with to facebook as well. In the past, they have been multistate investigations. Connecticut in particular, we are a big player in the privacy space. We were a leader in the equifax data breach and reaching that historic largest ever settlement for a data breach and privacy breach. And i am leaving the national generic drug pricefixing case. We Just Announced our third huge confront rampant and brazen pricefixing, the largest Corporate Cartel in history. Given that the google investigation is more advanced, when you look at some of these other tech companies, especially given your work on pharmaceutical companies as well, what do you think a problem the problem is with facebook, amazon, and apple . Companies butrent they dominate the markets they are in. Do they dominate to the extent that they are monopolies . Right. The question is whether they are thatolies, if they use market dominance to prejudice their competitors and customers and consumers. We have very real concern that that is happening. That is why we are investigating the Major Technology companies. The watershed moment in the last 30 years was the antitrust case against microsoft, many years ago. Now almost a generation ago. If we had not taken action, there probably wouldnt be a google or facebook. We had to make sure that microsoft was honoring obligations under the law and not misusing or abusing market innovation andh competition. Companies that were the start a generation ago are now the big monolith and we have to take a look at them as well. Emily interesting. We will be following what action your office takes. William tong, thank you so much for joining us. Coming up, the global race to 5g continues and legato is one of the companies promising to bring the latest and greatest technology to the industrial sector. We will talk to the companies ceo next companys ceo next. This is bloomberg. Emily in april, the fcc unanimously approved legatos request to use it spectrum to build industrial 5g networks for Critical InfrastructureCompanies Across the united states. Transportation companies, Public Safety companies, and energy companies. This decision puts the u. S. A step closer to china in the race for 5g. However, on tuesday, the commerce and Transportation Departments told lawmakers that they oppose legatos proposed service. The pentagon does as well. Joining us is the ceo of legato, doug smith. You have the commerce department, Transportation Department and even the pentagon saying that this would disrupt gps signals needed for defense, aviation safety, airlines also concerned about this. Why are all of them, these executive agencies, wrong . Emily, thanks for having me. I am happy to be able to talk about this. Have therilled that we approval that you mentioned. In april, the sec approved our petition for a license. It was approval that came with unanimous support from the commissioners. It was a fivezero vote and had bipartisan support. For our country towards 5g. I certainly understand that some folks are still resistant to the idea. But i think the record the sec has speaks for itself which is that this was a database decision. So give me the database and technological argument. Why do you believe this wont interfere with gps and compromise defense and Airline Safety . Is safebelieve it because i have spent years looking at this. I am in engineer of 30 years. I am also a pilot. This has been an Application Pending for well over four years. We have analyzed, tested. Weve done more testing on this spectrum then i have ever seen and all data comes back to support the decision the fcc made. Protect gps,t we we made a lot of decisions and changes. To do withthat have interference, we have addressed them. Worked with federal agencies to understand their concerns. Package that we came up with addresses the interference. Emily i know that those there are safeguards to put in place in case it causes interference. And though safeguards are turning it off. Isnt that a problem in itself . Doug the take away from that is that is the confidence i have wont be an issue. There is a cause a clause that the fcc has all the actions it needs to address it, including as having turn off our network. I am so confident that we will not cause interference that we have agreed to that provision. When do you intend to Begin Service . Now we are focused right on developing the 5g technology. We have been a satellite provider for Critical Communications for over 25 years. Right now, we are really focused on building 5g services on our satellite and groundbased networks. The approval here allows us to build them on a groundbased network. So we have Technology Development and making sure that we have devices that will bringt 5g and we can these fantastic services to market. Howy we will be watching this debate continues to develop. Thank you for joining us. Coming, teslas Board Members are under fire for wasting Corporate Resources in exchange for massive pay awards. That story, next. This is bloomberg. Fund haspension launched a lawsuit against tesla directors including ceo elon musk and oracle founder Larry Ellison claiming that they improperly siphoned millions of dollars out of the countrys asset companys assets. Our reporterng in that covers tesla. What is the allegation and how important is this . There are a lot of lawsuits involving tesla, of course. Larges one by a fairly pension fund. This is coming at a time when governance is top of mind. This is a pension fund representing Detroit Police and firefighters. The basically said that board is using their position to enrich themselves at the companys expense. They have granted themselves millions in compensation, and some of them dont even go to all the meetings. Even the proxy Advisory Firms have come out as of late. There is always drama at tesla. Corporate governance is an issue. It rears its head right around the time of the general meeting and we see this come yet again. Or the boardesla members made a statement in response . Dana no. [laughter] this is a lawsuit that was filed yesterday. Havent seen any kind of statement or response from tesla today at all. Do you expect this could impact the board longerterm . Could it lead to another board shakeup . There have been several over the years at tesla. It is a tricky thing. On one hand, there are investors and Pension Funds that have been pushing for changes to Corporate Governance for quite some time. We saw that in the wake of the go private tweet. Tesla has taken steps to add more independent directors. The stock is doing incredibly well and closed about 1000 yet again. The average shareholder is looking at the stock price and is very happy. It is hard for me to imagine that all of a sudden, you will have a revolt of shareholders demanding that Larry Ellison or robin home resigned from the board after they have done extraordinarily well in 2020. Tesla has always been you have these fervent bulls and bears. Be not sure anybody would swayed in terms of investors by these Corporate Governance issues. Dana i dont think so. I think the bottom line is that the shareholders that care the most about Corporate Governance tend to be fairly small shareholders. The large shareholders have known about teslas Corporate Governance issues for years and tend to be longterm investors that have always stood by the company. You have not seen a Critical Mass of large holders get up in arms about this. Hull, bloombergs dana thank you for bringing us that update. Up websiteing security provider cloud where has seen a surge in cyberattacks on antiracist organizations since the death of george floyd. Matthew prince will join us next. This is bloomberg. [ sigh ] not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Ask about saving up to 1500 on your installation. Emily welcome back to bloomberg technology. As the 2020 election cycle heats up, Network Security firm client cloudflare says it is blocking thousands of attacks on political campaigns per day and 4 million such attacks on a busy day. Theing us to discuss is cofounder and ceo. Matthew, good to have you back. First of all, shares up 100 since march. Flare is part of our Critical Infrastructure as we all shelterinplace. Talk to us about what traffic and demand has been like in the pandemic. Thehew obviously superheroes of this crisis are going to be the medical professionals and scientists that are taking care of the sick and helping look for a cure, but we are proud that we are one of the guardians of the internet, and we have been one of the faithful guardians that have allowed us to get through this. We have seen, around the world, as much as a 50 increase in overall internet utilization. Our team is hard at work making sure that we are able to keep normal traffic under control, but we have also seen a dramatic spike in cyberattacks. We want to make sure all our customers and clients stay online, no matter what. Emily do you think this boost is temporary because we are she