And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would recover if there is the successful rollout of the vaccine. That sentiment is on ponce right now. In terms of the names doing stayathomehe stocks, the likes of amazon and apple. Zoom, which we talk about so much from one of the big finish fisheries of the pandemic. Big beneficiaries of the pandemic. Fed minutes did not move the needle. Bitcoin softness as well. We mightve expected to get the a recordber of 19,511, for bitcoin, but we didnt. The cryptocurrency fell away in the later hours of the trading. Treasury yields on the u. S. 10year largely unchanged. Taylor i will try to lure you from bitcoin over the tesla. The rally continues. Some of the stalling within the rest of the ev space. Ed it is relentless, and tesla continues to lead the way in the day could there is a bit of a reassessment for some of the newer stocks, the newer names listed recently. Perhaps investors are thinking this rally has been very hot, and perhaps the suggestion of profittaking, with some traders telling us at bloomberg that the stocks that go up have also come down at some point. The undercurrent that is pushing ev stocks is policy. We are moving closer to a joe presidency and the hope is that that will push consumers to take ev adoption more seriously. Theor it is incredible, wednesday before thanksgiving, everyone has gone home at noon, but no, the corporate world continuing to make big announcements. Ibm, salesforce. Ed the lender Corporate News flow. Planned case, job cuts in europe. Not a huge negative reaction. We had a report out that salesforce in talks with slack over potentially acquiring as you can see how investors responded to that, slack up almost 38 , salesforce down 5. 3 . Raymond james expressing doubts that that kind of deal could take place, but that is certainly want to watch in the coming weeks. Taylor thank you as always to bloombergs ed ludlow for the latest on those markets. He mentioned salesforce. Salesforce is considering acquiring workplace chapter will slack. All chat tool ck shares as much searching as much as 34 for we joined by an analyst. The analysts are coming out and thinking that this looks positive. What is your really take on this . Early take on this . It would be an aggressive move by salesforce. We are going into a golden age of cloud. It will introduce further expand the footprint of slack in the strategic sense. It would be a major shot across the bow to microsoft, google, and others in terms of where salesforce is coming and where they are positioned in terms of what i believe is a trillion dollars spent over the cloud in the next decade. Taylor some analysts were also noting that in order to do this, the best way is via stock. Dothere were to be an m a you prefer stock as the acquisition mode . Dan i think given the size of be deal, slack, this would the biggest deal salesforce has ever done, and there would clearly be a significant equity component. That is why the stock sold off. Is what thisw this could do to salesforce in terms of penetration on the cloud. And they continue to expand. And then there is some that view nothat if salesforce is acquiring slack, they will be acquired by another vendor. Taylor who could be the other vendor . Dan right now if you look, the biggest competitor is microsoft. You look at who would want to go up against microsoft. You look at google and amazon the traditional names, there are antitrust issues. I think that is part of the issue, when you think about who could do a deal like this it would be salesforce continues to be the core front and center. That is why salesforce walks away and the deal does not happen, there could be more headwinds in terms of the stock for slack. Taylor how nervous should microsoft be if the deal goes through . Dan i think for microsoft it is a competitive threat. Teams in the scheme of things is not generating a lot of revenue, but it shows where salesforce is viewing itself in terms of its cloud race. It has been a twohorse race between aws and microsoft now with salesforce, more and more competing with microsoft. Thiss to this cloud is something in the works from the home environment, accelerating it by one to two years, and salesforce recognizes there is a time to seize on this in terms of going to the fifth year of growth. Taylor we love getting you on this program because you really can talk about most of these technology companies. Nd we have to turn to tesla incredible price target on your end. What gets tesla to 1000 . Dan its all about china. We are at an early inflection of demand, with what we are seeing in the china opportunity. 4 penetrated today. 10 in the next two to three years. Tesla in terms of where they are positioned, see where the dots are not just in china, but in europe. We could be looking at a Million Units for tesla in 2022. That is why in the ev market right now, it is teslas world and everyone else is paying rent. Taylor what about competition . Ford, gm . Dan this is going to be a transformational opportunity for many players. When i look at gm in particular, that is one that has a big opportunity to be a success. Of course come in china, byoc, and some of these others, look at the overall ev market, it is not just going to be one winner in terms of tesla. Competitively they will narrow the gap. And fremont are 18 to 20 from whence ahead of any competitor, although you look at what gm is doing, that is an interesting thing domestically in terms of competition. Taylor dan, you also cover vmware. Erform, 100 summary for 174 price target. We will speak to the ceo next. What is the one question you would want to ask . Dan look, they are doing a great job. I think the biggest question is terms cybersecurity, in of where that fits in the portfolio. They are in pole position to gain more and more share, going through this transition. It is looking at that opportunity and how they can expand that with the rest of the virtualization suite. Aslor dan ives, thank you always for joining us on a host of topics. Coming up, we will have more with the vmware ceo talking about the recent Earnings Report and why software is taking center stage. That is next. This is bloomberg. Taylor vmware out with earnings today that topped thirdquarter estimates. However, some analysts gave cautious praise to the cloud company. Traders remaining a little bit skeptical of the companys bottom line. Here to go over all the details, lets bring in the vmware ceo pat gelsinger. Talk to us about the outlook for 2022. That seems to be where our analysts work needing some more answers. Hardware analysts were needing more answers. Yeah, and as we look into next year, we see that the economy still has a lot of choppiness. The first half probably a bit more conservative, more recovery in the second half. Second issue being we are leaning hard into subscription and saas transformation. You get less upfront with a subscription model put the lifetime value for the customer is better. That is depressing nearterm earnings and Revenue Growth rate. Overall, we are excited. It is faster to the future. We are taking this covid pandemic prices and we are going to go faster to drive the transformation because we see that his overall where the market is going. Onpremiseovider of and clouddelivered services, a hybrid offering we are uniquely positioned to do. Theor when do we see uptrend . At we look at it as threeyear cycle. The second and third years look better, when you are coming out the other side and the businesses you build are accelerating saas is more at scale so the margin is improved. It is this threeyear picture, and year, stil la choppy economy fulls are taking the opportunity. Still a choppy economy, we are taking the opportunity. Taylor the mix of the margins. Omes from investment in hiring pat we have continued to invest this year and we plan to continue to do so next year. The saas model has more Customer Success requirements, because you have had little order, then you have to grope it over time. You are much more in partnership grow it over time. You are much more in partnership and that drives up the cost of the saas business. It is a big investmentheavy on the front end, but the lifetime value, as we are seeing from customers coming to the offerings, 44 growth rate this quarter, we are quite optimistic with where the customers are going. Taylor rbc analysts are noting that we are seeing the guidance is conservative. I do wonder, why is it conservative guidance . Pat i think everybody looks and vmware,y, when they when they say something, we are company inner guidance. We are up predictor of the future and where the markets are going. Highsingle digits range, they were expecting a little higher, everybody is maybe a little too euphoric on the economic outlook. We still believe we have a long way to go until the vaccine. All that taken together can wear comfortable with the guidance you have given, and we have a great track record of being able to deliver what we say. Taylor we talk about Amazon Web Services on this program. Im curious how you think about relationships with these more hyper cloud ryder system pat vmware cloud providers. Pat vmware has come a long way. Our teams meet forever regularly come and as we have started to see them really lean behind the pmware offering, they are a preferred partner. We are getting big customers who are betting on the vmwareamazon relationship. Quite excited about that. One of the really powerful things about this last quarters you now have all the other hyper their vmware offering asher, google, all on alibaba, ibm, board with a complete vmware solution, and this is our multicloud capacity. We can help you take advantage enter hyper scalers onpremise environment as well. That is unique position we have of the multicloud hybrid offering against the common vmware footprint gaining more interest and momentum in the marketplace. Taylor you mentioned the onpremise business. Do you get concerned it wont come back as quickly as we thought . Factorsis one of the that was somewhat negative on this quarter. Wedo expect some recovery as look to the pipeline in q4, and as the economy comes back, we expected to come back as well, largely in line with the economy next year. I call it the three laws of the onpremise cloud, laws of economics, laws of physics, laws of the land. There is lots of areas where they needed onpremise for the regulatory reading. It is cheaper for an atscale private cloud to move to the public cloud. Finally, the laws of physics. We will have more things on premise because you need below latency need to the low latency for robotics and edge environments. The foundational reasons we build on premise can even as we see acceleration of the cloud and the offerings on the nearterm. Taylor you have a unique insight on how customers are spending or not. How do you look at i. T. Spending at this moment and the uncertainty we experience . Pat overall i have been on record that we are in a decade cycle for tech spend. Digital transformation is more important than ever, except there is a moment in history where that has been the case. The pandemic period where telehealth and education for many it is a good cycle for tech. We dont expect that to end for several years into the future. I look at it as gdp and i. T. Spending will be better than gdp , and the cloud spend will be better than i. T. Spend. Overall in that order, and while it may come down, it will also come up in that order as things come back as well. Tech spend, strong. Software and cloud spend come even stronger. That is outlook for next year. Always cap gelsinger, good to have you on the program. Leton, thepe most Popular Consumer products people will be looking to bite black friday. Are they worth the hype . This is bloomberg. Taylor black friday and cyber monday are upon us, and there are four Tech Products competing for attention. Rundown in a segment we like to call power up. Oury welcome to inaugural power up segment. There are new iphones this year. You have been using the biggest one, but you have also tried out four of them. How are they working . Does 5g work, and and who should be upgrading this year . People aseen some lot of iphones and i love the big, larger screen and the bitter camera can but i wish apple would take better advantage of the screen. Appsuld be nice to do two sidebyside. If you are coming from the iphone 11 now, you dont need the update because 5g still has difficulty. Speeds ive seen are not as fast as what you would expect or what apple is marketing. If you are on the iphone 10 or older, now is the time to upgrade because of the new camera. The carriers have all sorts of deals. Phone for zero dollars a month or 10 a month. There are some good deals out there. Tell us about the Wireless Charging situation. This is the first time apple did not include the charging brick in the box. The situation is a little complicated because they still have the charging port. The problem is that the cable is 40, the phone doesnt come with the brick. You need to buy the 40 cable plus 20 for it. Now they have this twodevice charge where you have to buy a different bracket to get the full speed. The wirelessr charging experience. Probably better thirdparty options. Emily emily how does this stack up to other models from google and amazon . The home pod when it launched two years ago, optimistic about the quality and the technology, the price was way too high. There were lots of issues related to siri and integration and stuff like that. Those have not been solved. Now at 99 with pretty decent sound quality they took out the biggest barrier to entry. ve been trying emily you have been trying the new sony ps5, and all the headlines are about how hard it is to get. It is is it worth the wait . The wait is intense. Ive seen people paying 1100, 1200, cannot wait for it to ship. A tvt know who has that supports it, but they are amazing. You can really see the sweat dripping off the players faces. Everything looks super realistic if you want the latest and greatest technology and you have ps4 games, that is the better option for you vs. The new xbox. Emily speaking of wait times, the new wei tan for the peloton the wait time for the new peloton bike has been a talker. I imagine this is going to be a popular gift item. Should that bring down the wait time . Unfortunate, they have not managed to bring down the wait time. I spoke to the peloton ceo a few days ago, and he told me they are getting back around q3, april or may for peloton. Treadmill that is not shipping in the u. S. Until the end of march. It will miss the key holiday season. Taylor that was mark gurman and emily chang. Coming up, we just heard about peloton bikes potentially not making it to their destinations because of supply chains and shipping. Other shipping delays are anticipated as the Holiday Shopping season gets into full swing. This is bloomberg. Businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Taylor this is bloomberg technology. I am taylor riggs in new york. In a normal year, black friday kicks of the Holiday Shopping frenzy. 2020, the pandemic year, so in this new normal, holidaypegged something began earlier in part because of online shopping. Now delivery times are in question. Amazon merchants around the usa deliveries of some products are being delayed. Melissa, i think it was the my blackit felt like friday sales came a month ago. Am i right . Absolutely. It kind of kicked off with amazon pushing prime day from july to the middle of october hold for demand into the holidays. That did kick off the holiday season. Instead of five days of black friday, cyber monday for can we are having a month of black friday deals. Taylor is this permanent . Am i ever going to walk into a mall again . Had my you know, i thanksgiving meal delivered to me for the very first time. I avoided going to cosco and to whole foods, where i normally shot, and i got it through instacart and grocery pickup through whole foods. The experience was magical, and i dont know if im going back. I think a lot of the Shopping Behavior will stick. Instacart released data around their customer information, and they said 86 of their users are likely to keep using instacart in the future, and 89 c instacart as an essential service. I wouldnt say that this is permanent by any means, but it is behavior that is going to a verycertainly around busy holiday timeframes. If people have great experiences like i did, they are likely to do it again. Taylor my producers are some of them, who love the convenience of it. Doordash doing deliveries for the traditional work and mortar stores. I wonder if you think that is a great weight for them to look to the future to pivot and partner with some of these companies, because otherwise they may be left struggling. Melissa absolutely. We saw an Interesting Partnership announced last week with instacart and best buy. Instacart is traditionally a grocery platform, and a lot of stores are closed tomorrow for thanksgiving for the lastmile delivery opportunity is hard. Having this ability to partner instacart, and others is a smart way to help pageddonare calling ship this year, and going forward, different models people are trying out. Taylor you mentioned shipageddon. It seems like, using amazon for example, try to transform to be a logistics company, and yet no one predicted this massive surge in online shipping. That has been the story of 2020. How much delay how many delays are we expecting to see this year . Melissa it is going to be significant. Amazon has been predicting it and that is why they started in october. Rime day we saw messaging across a lot of consumer sites saying shop early, shop now. The shipping cutoff as early as december 5. True thing is going to happen. Amazon is poised to be a big winner. They are amazing executors, and they have a logistics built out better than others do. If we are going to see it, that is why we have a huge cyber weekend coming up. People know that they will expect delays. Taylor on those delays, is there any backlash . At the peak of the pandemic, twoday delivery was a week or two. People didnt get frustrated, because they are used to when they pay for the convenience. What would be the backlash . Melissa i think people are trying to really message on their websites to expect delays. The difference is people were not expecting delays back then, and they were upset that they were not getting orders on time. And also, email messages when things are delayed, notifications and things like that that your order is delayed. I think there is mitigation tactics that retailers are putting in place, versus where is my order, i ordered it, i expected it. Taylor what are the trends you are noticing . Melissa just in general, one of the interesting things is around social commerce. We saw that a lot on amazon during prime day. They started integrating a lot of livestreaming with video. We saw the rise of tiktok this year, especially people in lockdown. It is the only thing that brought joy, doing tiktoks together. We are seeing a lot more micro influencers and social commerce coming into play to discover and byproducts commit specially and by products, especially when you cannot go to the store. There is more reliance on video that shows you what the product looks like and things like that. Taylor i learned new things every day. Microfluencers. Melissa burdick. Nsize up, a coi covid19 detector attached for your skin. We hear from the founder, next. This is bloomberg. Taylor covid19 cases continue to surge around the world. California reporting another daily record of new infections, while new york saw the most new cases since april. One company that is working to curb the spread of the disease, it has created a wearable sensor that measures body temperature and other vitals to detect covid19 symptoms. Joining us with more, the ceo and founder. Break this down, how does this work . This is a medicalgrade wearable we developed before covid to monitor patients after they leave the hospital, and one of the most important things we were concerned about if someone leaves the hospital is developing an infection. Whether it is a cancer patient wesomeone has surgery, developed this technology for what we call remote patient it was cleared by the fda at the end of last year and we are launching it into large hospital programs, and then along came covid. This is a device that was built to monitor continuously your body temperature, respiratory rate, your heart rate, all of change during an infection. With that, hospitals started using this to monitor Covid Patients very broadly. Taylor i think one of the things that stood out to me is it said it is scalable and costeffective. How scalable and how costeffective . Dr. Mault well, when you look at the costs of keeping somebody in the hospital to monitor them, you were talking about 2000 a night. Now you can send somebody home with a sticker a day or two earlier and keep monitoring. What we have seen is we are doing this via a virtual interview. Virtual care for taking care of patients has also excluded over the past eight months. Being able to monitor somebody without having to have them hospitalized has changed everything. You need to be able to have some kind of technology. We are used to wearables in our daily lives for the last decade. But those are not medicalgrade devices. Doctors and hospitals need something that is going to measure those vital times as accurately as what we have in the hospital. Taylor but does it track you where you go . Has anyone expressed concern about that . Dr. Mault these devices do not do what we call location tracking. We understand and appreciate those concerns. For that very reason, this is monitoring your vital signs. It is transmitting the data via bluetooth, just like we are used to with our consumer wearables. In this case it is a little sticker that is on your chest, where it is more reliable to measure your body temperature and the respiratory rate and the heart rate. When we go to restaurants, they are doing their best to assess whether or not you might be sick, but the problem is that is a single snapshot of your temperature and what this is doing is it is quietly monitoring your temperature 1440 times per day in other words, every minute in your heart rate and your respiratory rate and other things that make it quite reliable to identify if someone is starting to develop an infection. And as you can imagine, we have a lot of people getting covid tests just to be able to go to work or the Screen Actors Guild every other day, Football Players and so forth. Unfortunately you have done ,his well in the lay press explain the fact that negative covid test yesterday does not tell you whether or not this person might have covid today. Taylor right. That is a very good point. We take weekly tests to come into the office can but it is a snapshot of that one moment. Dr. Mault 4k movie of someone every day. Our technology does a look back over the last one for hours and says, is there anything about their vital signs that might be infection . For a new it is almost like a daily covid test. Taylor what if i am alpha asymptomatic . Dr. Mault welcome isnt that interesting. It turns out that asymptom atic is a bit of unicorn. It is reported as high as 80 of Covid Patients are often static mptomatic, all the way down to 2 full that tells you a few things. One is that the definition of asymptomatic is all over the place. It could mean i dont think i had any symptoms. Kind of subjective. The reality is it is very difficult to have an infectious process without your body responding to it in some fashion. This comes down to what is the resolution of your instrument for measuring symptomatology . If youre just taking one temperature per day, you are not going to see it. If you are taking 1140 temperatures a day you are having what are called microfevers, and you are just not aware of it. We have got the Hubble Telescope to be able to see things that you would not see in somebody not wearing one of our buttons. Taylor fascinating. Dr. James mault, great to have you, founder and ceo of biointellisense. Very interesting conversation. As president elect joe biden begins his transition, many sectors including the cannabis industry prepare for potential regulations under the new administration. We had an exclusive interview earlier. Caroline hyde and i got perspective on the road ahead for a company. Player, one global of the largest medical Cannabis Companies in the world. Regulatory the framework starts revolve, and we have a largescale medical do with israel. The capabilities and compliance, everything from manufacturing, production, labeling, sales and marketing, that we have to do to be successful as the largest medical provider of cannabis in canada and key markets around the world, really bodes well for the u. S. While it is hard to predict what a federal framework looks like, we are glad to say that for states including new jersey have comprehensive cannabis legislation. There is a movement afoot. Taylor its interesting come we spoke with one of your peers weeks ago and he said the biggest competition is the black market. Do you agree . How do you compete with the black market . Miguel that is right in canada, but the direct market is growing. Month over month sales increases, a lot more Retail Stores opening across canada. Inle the illicit Market Canada is our largest competitor, the movement is afoot and consumers are finding this new category like vapor and concentrates. Our market has a lot of advantages over the illicit market. We are bullish on the opportunities. Caroline talk to us about the bullishness. Analysts arent always kind come and you got one buy, 13 holds, four sells, and they said that the company has not demonstrated the right to win. How do you tell them no, we have the right to win . Miguel if you look at where everyone was a year and half ago, and now the money was coming forward, there was a different approach to it. I come from over 25 years of regulated cbg background and i did most of my career with altria, but also the Electronic Cigarette business. Now these companies are being run by professional managers and we can take advantage of core economic dynamics. Margins are very strong, category is strong. We have a global evolution in the u. S. I dont think theres any reason over the next six to 12 months with Companies Like aurora not only working there will be Free Cash Flow positive. 125 million. How do you use that money . Miguel well, you know, as we look at the capital rate, we felt opportunistic. Right now we dont need the cash for capex, but investors were looking at our industry, they wanted to see not only execution, but a runway from a cash standpoint. We thought it was the right thing to do. We are focused on the execution we have on the market share. Brands like whistler on the Super Premium side. We think the combination of the market execution and the Global Expansion as well as the cash on the Balance Sheet makes it a compelling investment. Caroline talking about market share, you have talked about the premium side, the sound of going in on that. Talk to us about m a and whether that is a way of gaining and keeping market share. In the past you had to have some goodwill impairment on previous deals. Do you see that inorganic . Miguel if you look at our four pieces of business, i dont see m a being an opportunity or a need for us. You look at the u. S. Cbd business, dont feel like we have to do anything there. Other parts of the international business, nothing there. We the canadian business, made significant investments and talked about goodwill impairment and rightsizing the company, whether it is production, sales marketing, rending, we feel like we have everything we need. Taylor that was miguel martin. Still ahead, looking for something to watch over the holiday . I am. Netflixs latest limited series is the most popular. We look at the 1960s chess drama and why it is stealing the limelight. This is bloomberg. Taylor netflix scored big with the debut of their latest limited series, the queens gambit. The show has gone on to be the streaming services most popular scripted limited series ever, attracting 52 million households. The netflix vp of original series says i dont think any of us could have predicted that and theens gambit extraordinary Anya Taylorjoy would become the global phenomenon they are today or our biggest limited scripted series ever. Joining us is our media and entertainment reporter in l. A. I admit i have not had time quite yet to dive into it, but what makes it so popular . Well, it has a great performance and just a great narrative. It is based on a book that just told a very compelling story of who of a young chessmaster learns how to play from her janitor at this orphanage that she is being raised in. And from an early age she is able to challenge the best players, which is unusual not just foreign agent, but also for her gender. There were not a lot of prominent female chess players at the time. Continuedto netflixs ability to take stories and blow. Hem up globally that post you referenced talked about it being one of the top 10 shows in more than 60 countries, the number one trip in every continent number one show in every continent. It came at a crucial time for the Service Since it has been a little while since they had a huge scripted hit. They had big movies and scripted shows, but not a lot of the breadandbutter scripted shows they started with with house of cards and many more. Taylor i love that you brought it up, because in the disney plusngs, disney numbers have blown out out of the water. Netflix has responded by raising prices every 18 months or so and making sure theyre are keeping profitability up. But so reliant on these big hits. For the costs that go into that, does this cemented their dominance, their lead, and the reliance on the big scripted shows . Lucas its interesting, netflix and disney are playing such a different game right now. Disney is growing at that clip almost exclusively trading on the disney brand. They have one show, the mandalorian. The hamilton movie was big, but for scripted shows, they have the mandalorian and thats it. I imagine the numbers based on the Second Season based on the Third Party Data are quite good for hi. Disney will eventually scale up, but they are not playing at the same level as netflix with the volume of new shows. They may need to at some point if they want to keep people and retain them. The thing netflix had on everybody else, the advantage, is they are producing at such a volume that even if you are not watching netflix right now, you are not going to think about canceling it because you know there is always something there for you. Taylor we have about 30 seconds left. Im curious if that flicks benefits from the fact that movies are going direct to consumer and we are bypassing the theaters more and more frequently. Lucas it has been a huge benefit, and they have a number of big titles coming up. What is typically the oscar season and family season, and this year seems like netflix is best shot at winning the best picture auction can look out for mank, which comes out in a week and a half. Taylor what are you baking for thanksgiving . Lucas pecan pie. Taylor lucas shaw, media and entertainment reporter an excellent baker, i hear. That does it for this edition of bloomberg technology. Isomberg daybreak asia still ahead. Happy thanksgiving. This is bloomberg. Haidi we are counting down to asias major market open. Shery welcome to daybreak asia. Our top stories, asia faces a cautious start after wall street slipped on disappointing data. Stocks consolidate as the dollar falls. The dollar index is below 92 for the forced fourth time in two years. Xi jinping finally congratulates joe biden on hi