download the xfinity my account app today. emily: welcome to bloomberg technology. i emily chang in san francisco. markets ending the day up but the week down. it was another week for the history books with u.s. unemployment hitting 20%. we are standing by for that daily white house briefing. the president now claiming he sarcastic when he claimed that injecting disinfectant would help you

fight the virus. this as deaths in the u.s. surge past 50,000. the numbers are getting better in spain and italy but seem to be getting worse in places like russia and germany. the world health organization also forming an international alliance to ensure that vaccines and treatments are distributed fairly. we are just ahead of a big week in earnings. i want to bring in taylor riggs. sammy's buoying the markets. what were you watching? taylor: exact reversal of yesterday. outperformance within the tech sector but we are still lower for the week. we are waiting a bunch of being earnings coming next week. we got some chipmakers reporting this week. i will also talk about crude. monday and tuesday, you had crude go below zero for the first time ever. some of the losses we saw on

monday and tuesday, even though the energy market rebounded, not enough to offset the big losses in crude. contract still on pace for their worst week ever. you are starting to see some of that pessimism. pandemich curve of the did show some signs of leveling out. emily: there's this issue of human to animal, animal to human virus transmissions. the stock way up. taylor: what a cool story this is. a 150 millionn dollars revolving credit line to take on new initiatives. they also said they got a new deal in china with starbucks. if you go to a starbucks in china, you can get pasta, lasagna, and a tortilla wrap

with beyond meat. hase know, this pandemic highlighted a lot of outbreaks and animal to human transmissions. some of the pandemic response, you did have a analyst come out and say they do think that beyond meat could benefit from this. market, an attractive given the supply shortage caused by the african swine fever among others. land-based meat is produced in a clean controlled environment. as people become more conscious about where their food is supplied, they think beyond meat, the entire fake meat market, could benefit from this. emily: interesting. meantime, we've got trillion dollar earnings next week. just about everyone. what are you watching? taylor: the three that i'm

watching, trillion dollar market cap companies. amazon, a lot to digest here. we knew that amazon was trying to get into the ad business. that will be a focus. and then how they continue to build around all their businesses. apple, the biggest risk to apple as we know is a big slowdown in sales. supply chain disruption and a lack of demand. the good news, $100 billion in net cash. if anyone can withstand the storm, it is apple. microsoft is interesting as well. it is the hardware versus software story. software may shine while

hardware may slow. some of the latest analyst reaction, they did cut their price target on microsoft, saying that they are not immune to this pandemic. that is just the beginning of it. i could go on and on. emily: and we appreciate that. thanksriggs in new york, for that insight. on apple andand google's partnership in contact tracing. they are releasing an early version of what they have been working on two developers next week. also with increased privacy protections. data that will be transferring between phones will now be encrypted. what more do we know about how this is going to work? >> thank you for having me. what they told us this morning

in a call is that they are upping the privacy protections. they previously used a certain type of encryption, basically anonymous characters assigned to a device. they are shifting to a different type of encryption. they are upping protections around bluetooth. and like you said, they are going to start providing this technology to developers so they can start building applications with it before the public rollout. emily: meantime, you've got the e.u. leaders, especially in france, asking them to relax some privacy protections. something apple has made clear in the past that they will not do. how will these companies balance

concerns from global leaders? >> you are seeing basically the exact opposite here. they spoke to many governments and public health organizations, some of which said they want less protections. apple's decision along with google was, right now we are going to put more protections in place. what apple doesn't want is a government or other organization to use this beyond covid-19. they don't want a scenario where a government can use the iphone or android phone to basically create a map of where everyone is and what they are doing, who has coronavirus, who doesn't have coronavirus. if you input the data into the health application, if you cross paths with someone, it will notify them. they won't know where it happened or the location and apple is sticking to that. has beenntact tracing

well underway in places like singapore but it is not necessarily working. hiringgot new york state an army of human beings to do contact tracing the old-fashioned way. do we believe that what apple and google can accomplish can be significantly better than what humans can do on their own or what they have already been trying to do in singapore? >> great question. the difference in the way humans are doing it is going to speed up the process by a factor of infinity perhaps versus singapore. the only real way to have done this effectively is through a phone. half the population has a smart phone running ios from apple or google. i feel like they had no choice but to do this, to release a tool that works between the iphone and google, not a

fragmented approach. just embed it into the operating system. i think this is going to start slow in may, but they are saying it is going to become more deeply embedded. integrated to be as as maybe the messages app. it is going to raise awareness. there's all this talk about the second wave. it is important to have this technology in devices. i think it is going to be far more successful. emily: a second wave, so terrifying. mark, thank you for your reporting. coming up, we are going to speak to fcc commissioner brendan carr about moves to combat challenges facing the nation's broadband infrastructure and get more connectivity. we are standing by for the daily white house briefing scheduled to start at the bottom of the

hour. when that begins, we will take you there. this is bloomberg. ♪

the u.s. federal communications commission has moved a step closer to a fund that would distribute $9 million for rural 5g across the united states. we spoke about that and what else the fcc is doing to keep americans connected with fcc commissioner brendan carr. >> this is the single biggest effort to date to truly close the digital divide as we look to get 5g built out. t-mobile has committed to bringing 5g to 99% of america.

now this funding is going to help make sure that every community gets a fair shot at 5g. the stakes are too high to have a gap there. emily: we put together a map that shows connectivity issues across the country. darker areas show where the most people don't have access to the internet. it is kind of shocking to see how many people out there can't get online or don't have access to a computer. especially when we got so many people working from home. it that weconcern is might come out of this pandemic with greater inequality and a , just given the circumstances out there? >> the stakes truly are high. more americans than ever, just e relying on the internet, working from home, educating our kids,

so we are taking steps to close that digital divide. over the first two years, we narrowed the divide by about 30%. we are making great progress but we are not flying the mission accomplished flag yet. billion,hy this new $9 building out internet infrastructure, closing the divide is so important. emily: the fcc has got broadband providers to pledge not to cut off. what happens when the 60 days is up? what can the fcc do? >> the chairman has spoken recently to that pledge. i think it has been very important. the private sector stepped up to make sure low income americans and students don't get caught off during this vitally important time. i'm really proud of the work that has gone into that pledge.

do you think you can get providers to sign on to do that? for another 60 days? >> these are some of the most capital-intensive networks in the entire u.s. system. we had to make sure the funding is available, the capital is available, to keep investing, keep building out. that is the balance we have to strike. making sure these companies have access to capital to invest those dollars back in the network. emily: what about expanding programs like lifeline to get to more low income people that can't afford broadband? at fastess is looking tracking some additional funding. that will be very welcome and helpful. there are some limits on our authority. our funding authority is limited to supporting classrooms, which doesn't make a lot of sense right now. there's some legislation that will give us authority to go

beyond classroom funding. emily: there have been some conspiracy theories about 5g that it affects people's health, causes serious health problems, causes even the coronavirus. what do you want to say to companies like facebook and twitter about how they should handle that? we've even seen attacks on 5g cell phone towers in the k -- in the u.k. >> a lot of these conspiracy theories are coming from the deepest and darkest depths of tinfoil hat land. there are state actors behind it. they have been reporting about russia being behind misinformation campaigns because they want to sow confusion among the american populace because the u.s. is leading the world in 5g. they've been using this as a technique to try to slow the u.s. down. emily: what would you say to

companies like facebook and twitter about this information and how they should be controlling or monitoring or pulling it down? >> my position on free speech on the internet is clear. more speech, not less. attempting to shut down particular speech like this, let's put more speech out there, whether it is through platforms that i use like twitter, we need to put information out there rebutting these conspiracy theories. emily: theories about something as grave as a virus that can kill you? >> 5g is not a virus that can kill you, but if there is misinformation about covid-19, for instance youtube has said they are going to take down information that is inconsistent with who recommendations. my view is that we should just put more speech out there. the people making sensors that decisions are either fallible or pushing their own agenda.

i think we are far safer in the , even though it seems tempting to censor speech like this. emily: you think what youtube is doing is censorship? >> i have some concerns about it. youtube, facebook, these are private platforms. they have wide leeway in terms of decisions they make. police the trying to type of information, we should be out there, putting our own information out there to counter that speech. i was a bit disturbed to see some state governments putting pressure on facebook to take down information about protests of those state governments. when a state government comes in and pushes them to try to take down those posts, that does trigger some first amendment concerns from my perspective. emily: the fcc has issued a directive to various telecom operators to remove components

made by huawei. the u.s. government has alleged that huawei could be spying for the chinese government. there is little evidence that this is true. have you seen some evidence that we haven't seen? do you believe this is in fact happening? and what is the proof? >> i have seen information that you haven't seen. on our decision where we prohibited subsidized equipment network,g into the we put public information into our documents and had classified information. 150 been in montana, where intercontinental ballistic missiles are spread across hundreds of miles of big sky country. there are so towers throughout that missile field running on huawei gear. when you look at the performance characteristics, i think it gives you reason to have some

concern. there is additional information that hasn't been publicly reported. emily: fcc commissioner brendan car there. facebook wants in on the videoconferencing action, announcing a new video product where you have 50 people in a room at one time. we are going to talk to kurt wagner about that, coming up. this is bloomberg. ♪

facebook is launching a new video chat product to capitalize on the world trapped indoors. this as other services like zoom have skyrocketed in popularity. joining us now, bloomberg's kurt wagner who spoke to mark zuckerberg about this. what did mark tell you about his

ambitions, other than to basically get in on the action? kurt: he said that he looked around at the marketplace and what he thought he saw was that all the video chat services people were using were the kind of things you would use for work or formal meetings. he thought there was room to create something that felt a little more social and more fun. tot is where facebook tries thread the needle. they have this video chat service, but it has a handful of features that feel less cumbersome and stuffy. you can use ar filters. you can jump in and out of rooms. you can visit different groups of friends easily. he's hoping this offers a nice alternative to zoom. emily: many consumers are now

using zoom. zoom dinner parties, zoom birthday parties. can facebook really get a chunk of the action at this point or is it too late, especially given some of the issues facebook had around trust and concerns about facebook knowing too much about us? people,om, for most their first introduction to zoom has been over the last couple months. i've been using zoom for work for years now and it never felt like the kind of place i would want to have a dinner party with my family. but in some ways it materialized that way because it was the only thing widely available. massive building user base. 700 million people are using messenger or whatsapp for voice

calls or video calls every single day. these are people who already used facebook products. i don't think that by next week we are going to see facebook having dinner parties on this thing but i do think that facebook has such a massive advantage when it comes to a built in audience that this is the kind of thing that six months from now may seem like equal footing, if not surpassing zoom in terms of size. emily: it will be interesting to see how much traffic it drives with earnings coming next week and advertising taking a hit. is this something facebook started working on since the covid-19 crisis began, or have they been working on this for a while? kurt: i think they basically pivoted very quickly when all this, the disease outbreak started, and they started

building a lot of features around video. they weren't starting from scratch. you could already do a video chat on messenger, on whatsapp. they had a lot of the underlying technology already built, which reason they were able to launch it so quickly. so i don't think this is necessarily something where they saw zoom and they had to totally scramble. but i do think that this is the kind of thing we are going to see more from facebook. there's really no tech company that i know that can really pave it and dive into a particular topic as aggressively as facebook does. mark zuckerberg saw live video as a feature. he just redirected the entire company. they do this quite often. emily: kurt wagner, thank you for your reporting. ,oming up, talking about tictoc

as popular as ever but still fairly unpopular with the u.s. government. we will also take you to that white house briefing scheduled to start any minute now. this is bloomberg. ♪

emily: welcome back to bloomberg technology. tiktok reminds a viral video sensation and its users are popping up plenty of content through the coronavirus crisis. it is still a big target of u.s. national security concerns. earlier today, i spoke with the head of u.s. policy, michael beckerman. michael: tiktok is a platform for creativity and bringing joy and that is something i think all of us need during this time of quarantine. we have had initiatives such as happy at home which has had over one billion views. the platform has been used by people to bring families closer

together. you are seeing parents, grandparents and teenagers doing videos together. the platform has been a really great place for spreading information about the coronavirus, things you can do to stay safe and healthy. all the handwashing memes. really even for mental health, just enjoying yourself while at home. families have been doing the quarantine olympics together. it has been a good mix of educational content, but also fun to keep our sanity. emily: have you seen a surge in activity? are there any numbers you can share? michael: i can't share numbers but there has been a surge as more people are spending time on the app. you want your time to be well spent on tiktok. emily: part of what you are doing is a relief fund for musicians and actors that he cannot work during this time. even concerned about netflix running out of original content. can that be an opportunity for tiktok? michael: we have a lot of

original content on tiktok. every video you watch is original content. we have created a fund to help the community of people on tiktok, from restaurant workers to musicians and actors. we also have a health care heroes fund to help health-care workers around the world and in the united states to deploy additional frontline medical workers to some communities and hospitals that don't have the resources they need to help fight the virus. emily: what is your job as head of u.s. policy for tiktok actually entail? you coming from the internet association where you work with a broad swath of big silicon valley companies. what kind of message do you want to share with lawmakers about tiktok's presence in the u.s. and what are your real objectives in d.c.? michael: a lot of times, people think of internet and social media platforms as monolithic and tiktok is very different. the short form videos are meant

to be creative, to really educate policymakers what the app is and how we are different is vital. the company is putting new policies in place to be more transparent. we announced a new transparency center in l.a. and another one in washington, d.c. to let policymakers look under the hood, ask any question they want and we will be very transparent in our policies. we also changed direct messaging so if you are under 16, you can no longer do direct messaging on the app which we think is really positive. as well as the new family pairing to allow parents to pair their app with teenagers to control screen and other aspects. emily: what is tiktok's relationship with the chinese government and how can you convince the u.s. government of the integrity of that relationship? michael: decisions for tiktok and the united states, we have a general manager in l.a. who runs

the u.s. business. our trust and safety team is led out of the u.s. office. again, the parent company of tiktok is not the chinese based company. there is a global holding company that tiktok reports into to ensure there is separation and we don't fall under chinese law. it,y: so, as i understand tiktok is still hiring. how many employees do you have in the united states? how many do you plan to have by the end of the year? how many employees in d.c. specifically? michael: tiktok is growing globally and we have a major commitment to the market in the united states and have close to 700 or more employees throughout the u.s., in california, texas, new york, washington state, and now, washington, d.c. hiring is lower as we are doing it virtually but we are looking to build a major presence in washington as well. tiktok has a growing u.s.

presence. emily: i understand there was a plan to move your u.s. content medivation to the u.s.. has that happened yet and how is that going? michael: our head of trust and safety is based out of l.a., making decisions for content moderation in the united states. like most companies, we have content moderation teams and teams that are viewing content throughout the world. as the u.s. goes to sleep, content is still coming up. that is being reviewed globally. videosa lot of tiktok may be grandkids doing videos with grandparents, but a lot of it is kids shouldn't see. are we going to see you get more aggressive and how? is there some combination of human and ai review that will help you crackdown? michael: i disagree with that a little bit. i spent quite a time on tiktok, maybe less than i like because

we are busy with her regular job. but the content on tiktok is really positive, overwhelmingly positive. is everything excellent? no, i don't think that is true on any platform. i think compared to most internet platforms, the content on tiktok is a lot more wholesome and fun. but we do have strong policies in place to respect the community, to remove content using ai and human reviewers to ensure the content is safe and worthwhile and meets the community guidelines. an ongoing challenge, but something we work on and take very seriously because you want to have the content to be something that is positive. i do think our content, our trust and safety team do an excellent job. emily: what amount of ai versus human review? michael: i cannot give you a breakdown on what percentage is ai versus human review. they go through various stages as things are being uploaded. first being looked at by ai, and as things are being flagged by

the community or ewers, human get on it. emily: are you developing company policy, principles that you might be sharing with folks on the hill, some of the folks developing this national privacy bill? michael: actually, great question. that is something we are working on. our privacy policy is on our website like everybody else. like the rest of the industry, we would like to see very strong national privacy law to protect all americans. we have something of a patchwork of privacy laws throughout the u.s. we are complying with california, but we would like to see strong protections for everybody throughout the u.s. in a federal bill. emily: what are you doing to fight misinformation about the coronavirus specifically? we have seen that be a huge problem on facebook, twitter, instagram, youtube. michael: the same as everyone else. we have policies against misinformation, and on the

coronavirus is really important one that we focus a lot of resources on doing. in addition to removing myths and disinformation about the virus, we have been working with trusted sources in government and ngos throughout the u.s. to make sure positive things get out there both on staying home and washing your hands, and legitimate medical sources and information. emily: michael beckerman, tiktok's new head of u.s. policy. meantime, amazon is ending its coronavirus leave policy. until now, workers have been allowed to stay home with pay if they felt uncomfortable coming in. that will end on may 1. daynt to bring in matt who covers amazon for us. tell us about the new policy. matt: pretty early on in the crisis, amazon said workers can stay home without pay if they felt insecure, had to take care of kids. that will end next week.

still a lot of people worried. many people just don't have alternatives at this point. as covid cases spread around amazon's network, there were some folks that said amazon has not done enough to protect its workforce. some folks are afraid to come back to work. emily: meantime, you've had workers staging a sickout today. how widespread was this? matt: we don't know. we heard there were plans to tout the scale of participation on social media. the only glimmer we got was a livestream that they held. emily: hey, matt, hang on. we actually have to go to the president who just walked out into the briefing room. pres. trump: working at a very level. nationwide, the percent of tests that come back positive has declined very significantly. last week, roughly 30% of the tests new york were level. positive. this week, that number is down to 28%.

york are downew 50% compared to a week ago. fatalities are down 40% over the same period. in louisiana, the rate of positive test results have declined from 25% down to 15% in the last seven days alone. 18 states now show a decline in a number of positive tests in the last seven days. over the last seven days, we have seen significant progress. half of all americans live in states that have now taken steps to open their economies. just yesterday, governors gavin newsom, california, tim wolf of minnesota, announced additional plans to restart certain sectors. we ask every american to maintain vigilance and hygiene, social distancing and voluntary use of face coverings. we are opening our country. it is very exciting to see. we have a lot of talent

involved, from governors down to people that just stand there and help you at the doors. there has been tremendous talent involved and tremendous spirit for our country. our country is a great place and it is going to be greater than before. i really believe that. i think there's going to be tremendous. i spoke to tim cook today of apple. they have a good sense of the market and he feels that is going to be a v. the v is sharply upward later on as we actually get it fully open. today, i signed the paycheck protection program and health care enhancement act, providing $320 billion to keep american workers on the payroll. $30 billion of the paycheck protection fund will be reserved for small financial institutions, including those that serve minority and distressed communities, extending vital relief to thousands of african-american and hispanic american small

business owners and their employees. the bill also delivers a $75 billion for hospitals. badly needed for hospitals. they have taken a big hit. and medical providers in areas less affected by the virus. hospitals and doctors should work with their state and local health officials on ways to safely resume elective medical treatments and care. under the cares act, we are sending direct payments to millions of american workers. workersn 80 million have already receive their payment. $3400 for a family of four. you deserve it. the cares act requires the federal government send out a notice of what benefits americans are receiving to fulfill the requirement. the treasury department is mailing a letter to me. it will include the amount, the economic impact payment, how it will arrive.

direct deposit, check or prepaid debit card, as well as the message to the nation letting each american no that we are getting through this challenge together as one american family. that's what's been happening. the whole world is watching us. you have 184 countries that have been hit and now it is probably higher than that. they are all watching us. they are all watching and calling and respect what we are doing so much. spoke with the leaders of numerous countries today. they are asking if we can send them ventilators and i am agreeing to do it. we have tremendous capacity, now overcapacity of ventilators. we are filling up stockpiles for our states and for ourselves. the federal government has over 10,000 ventilators and we could have a lot more if we wanted to do that but we are helping mexico, honduras, indonesia, france. we are sending to france. we are sending to spain, we are sending to italy. and we will probably be sending

to germany if they need them. over the last three years, we build the strongest economy and the most successful country the world has ever seen. the greatest economy the world had ever seen. nobody's ever done anything like we were able to do. and, we will rebuild that economy. our economy in the not-too-distant future, i really believe with all we have learned and all that we have done, will be just as strong and they be stronger than ever before, even stronger than it was just two months ago. some interesting note is the fda approved the first at home covid-19 test kit. just got approved. hahn is going to say a couple words about that and some other things. the fda has been incredible. they have been improving not only this, but approving many things at a pace that has never happened before.

they are being very safe about it as tstephen told me. they are proving things and record numbers at a record rate and it has been helpful. many tests are going on, many vaccine tests. tests of every different kind, and things are happening just like very rapidly. i would like to have stephen tell you a little bit about it. thank you. dr. hahn: thank you, mr. president. i appreciate the opportunity to tell you what is happening at the fda. we have a team of more than 18,000 employees, including 10,000 scientists, doctors, pharmacists and nurses. they have been working around the clock. many of the medical products being used for the outbreak are regulated by fda. the staff have been hard at work authorizing test and other medical products. as part of these efforts to support diagnostic test developments during this global

pandemic, the president has asked us under his leadership to actually cut down as many barriers as we possibly could to get medical products into the medical community. we have done that, recognizing the urgency of the situation. i do want to emphasize with the president said that we are very much paying attention to safety. and with respect to tests, validity and reliability of those tests. it is important to understand how far we have come in just a few short months. the academic community, which i come from, the private sector, the government have come together to develop diagnostics for completely new infectious disease. it's really important. we have heard from many tests from academia and in the manufacturing world. this normally takes years to develop. you heard dr. birx talk about the fact hiv tests have taken many years to develop. this has happened in weeks and months. we have a laser focused on working with both industry and academia to actually make this

happen. to date under our emergency use authorization approach, we have reviewed and authorized 63 tests, both diagnostic as well as serologic tests. we have had several point-of-care tests. those can be done in emergency rooms, and a doctor's office, etc. and much more convenient to the patient. this week, we authorize the first at-home test by a company called labcorp. this is a test where under certain circumstances with a doctor's supervision, the test can be mailed to a patient and the patient can perform the self swab and mail it back and get results after that tided, under the guidance of a licensed physician. we are not just letting up with these 63 tests. we're working with more than 400 test developers who are pursuing authorization for the diagnostics under our current policies. under our regulatory approach, which is quite flexible, many other tests are becoming available. we have heard and have reported to us 220 labs around the

country have begun patient testing using their own validated tests. this has allowed us to increase significantly tests around the country. i updated you earlier this week on serologic tests, antibody test that are used to detect natural immunity and the fda's approach to make this available. whikle these are just -- while these are just one part of the larger response effort, they can help play a role in moving the economy forward by helping health care professionals identify those who have immunity to the covid-19. when it comes to therapeutics, we are leaving no stone unturned in fighting treatments for covid-19. we do know we don't have any approved currently therapeutics for covid-19 but we are actively involved in both the academic and commercial and private sector to find those. 72 trials are underway in the united states under fda oversight. 211 are in the planning stages. we spec to see more. this includes convalescent

plasma as well as antiviral therapies. and continues on vaccines two firms have announced the fda has authorized their trial to go forward, one of which we mentioned before. finally in response the president's task force request, we stood up at coronavirus exhilaration program. we are leaving no stone unturned and we are working around the clock to develop these therapeutics for the american people. >> dr. hahn, the antibody test -- qu\ick question. just about an hour ago, a subcommittee with oversight released some findings that the fda does not have any review of the antibody tests that are on the market. there are no guidelines to tell which ones should be out there and there is no way to test their accuracy. they are quite worried these are just tests on the market because they weren't reviewed before they were approved. is that true? what we have told

manufacturers is in order to market in the u.s., they have to validate their tests. they have to tell us they validated their test. in the package insert, have to let people know and users, labs, etc. that those tests were not authorized by fda. we have authorized four. more are in the pipeline. these tests that have come in without any information to us, that have been self validated -- as i mentioned a couple of days ago, we are working with the national cancerthese tests thats well as cdc to perform our own validation of a test that had been sent to us. we will provide as much information as we can. there is transparency on our website about those tests and also the tests we have authorized. vice pres. pence: thank you, mr. president. from early in this effort, president trump has called a

whole of government response to the coronavirus epidemic in america. by that, the president made clear when he asked me to leave the white house coronavirus task force not merely the whole of the federal government, but a full partnership of states and local governments across the country. today, we have renewed that with our latest conference call with governors all across america. we've met with them today specifically to talk about the progress that our governors are making, expanding testing across the country. we were pleased to hear about the extraordinary and rapid progress that governors are making. at the outset of the call where we had more than 50 of our nation's governors, we had pete gaynor of fema report on progress. more than 45,000 national guard stood up. we were also pleased to report that fema, hhs and the private sector have coordinated a

delivery of shipments to states around the country, including nearly 67 million n95 masks, 105 million surgical masks. surgical gowns, shields, gloves. more than 10,000 ventilators and more than 8000 federal field medical station beds. beyond the report that we provided to the governors, we assured them that the president's direction this is one team, one mission. we have made it clear to the governors that we know we are all in this together. and the partnership that we have forged together really begins with mitigation efforts. did moves through making sure our health care workers have the support they need, but also testing is in the forefront of all of our minds. we are working to make it possible for every governor to capacity toxisting

enable our states to be able to reopen responsibly under the phased approach to the president unveiled one week ago. and little bit of context. you may recall one month ago, all of the testing that had been done in america, 80,000 americans have been tested. as of this morning, 5.1 million americans have been tested for the coronavirus. a quick reminder to our fellow americans. this was something from our scientists today at the task force when we reminded governors of this. as testing increases dramatically across the country, cases will increase as well. but, people should not be discouraged by those numbers. we are looking at very positive trends in hospitalization, in emergency room entrances. we continue to see as we have set up this podium every day over the last several weeks, we continue to see positive progress not just on the west coast, but even where the

coronavirus epidemic is most deeply impacted. the greater new york city area, new orleans, detroit and elsewhere. on our nearly two hour phone call today with those governors, we heard the progress governors are making in implementing the resources that we have been working to provide them. not just the medical equipment, but also as you recall, that map a week ago that showed where all of the equipment is all across the country in all 50 states. governor cuomo joined us for the call today. he spoke favorably of his meeting today at the white house. his recognition that testing is a partnership between the federal and state governments. as governor cuomo said today, he understood the federal government works with national manufacturing and supply chain. and we governors deal with the labs to expand and implement testing at the state level. governor cuomo also explained how he is using his licensing

authority as a governor to stand up to more than 300 labs that can do coronavirus testing in the state of new york. we congratulated him for his leadership in that. i urge other governors to use their authority similarly. in tennessee, governor bill lee deployed the national guard to stand up more than 20 drive-through test sites. they are testing 10,000 people a day. they have already tested more than 130,000 people in tennessee and expect another 15,000 people in testing sites this weekend in tennessee. massachusetts is an area we are continuing to watch very closely as cases have not yet stabilized. governor charlie baker, after he thanked us, mr. president, for the army corps of engineers hospitals, he described how they rapidly expanded testing all across massachusetts. we commended him for that. in the beginning of march, he said they just had one testing site in the state of massachusetts and now thanks to governor charlie baker's team,

they have more than 30 testing sites. minnesota governor tim walz reflected on the call today about the partnership he has clinic, thethe mayo university of minnesota, the state health apartment -- -- de partment -- emily: vice president mike pence sharing additional information on testing. this after the president announced the fda has approved the first at home coronavirus test. this test coming from labcorp. in general, testing not always 100% accurate. the vice president saying one in three people can get a false negative so you might have to take multiple tests. in general, president trump playing it more straight today than yesterday. of course, those remarks about disinfectants widely proper sized and criticized. the president saying he was being sarcastic. 18 states showing a decline in positive test results. also, talking about a phone call he had with apple ceo, tim cook,

saying cook told him he believes there will be a v-shaped recovery. that the economy will bounce back as soon as the economy is allowed to reopen. we will continue to listen in. you can watch this presser on live . this is bloomberg. ♪

david: governments fight the coronavirus. the markets react, sometimes violently. this is bloomberg wall street week. i'm david westin. welcome back. ♪ david: this was a week we saw things we never thought we would see. we saw oil trading and negative numbers. we saw the government pony up with as much is dollars to help the economy. the equity market was all over the place. on top of it all, the iconic nfl draft,