theyl blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) emily: welcome to "bloomberg technology." emily chang in san francisco. stocks extending a streak of record gains amid rising expectations for loosen monetary policy while the economy shows signs of recovering from the pandemic. we are watching bad weather on two fronts. the ongoing dry and windy conditions in california, which

has fueled wildfires that have born -- burned more than a million and a half acres. laura has become a category four storm. it is expected to make landfall tonight. we will have the latest on its movement in just a moment. force.rce joint the company beat estimates. we will talk to ceo marc benioff live this hour. there is no one bigger than rhode island representative line. cicil i sat down with the congressman for an exclusive interview that is ahead later this hour. if it's politics you want more of, you can watch the republican national convention tonight on bloomberg television. viceyes will be on president mike pence as he makes the case for president trump's

reelection. we will bring you that coverage at 10:00 p.m. eastern time. our bloomberg markets correspondent abigail doolittle is with us. abigail: more record highs. i think you nailed it, talking about the fed liquidity. that has been the driver for the rally, right out of the march lows. the fed successfully stirred the animal spirit. take a look at that. the s&p 500, a new record high at 3480, up 1%. the nasdaq up. the fang up 3.8%. that will real winner, facebook up 8.2%. it's best day since march. it could have to do with their new facebook shop added to their app. the analyst industry is very positive of what this could mean for the company. when you have the frothiness in the stock, it tells you

investors are chasing us momentum. we are seeing something that we have not seen in about a decade. that is the nasdaq 100. so far extended above its 200 day moving average. in 2009, farck exceeding the extension we saw a earlier this year. sometimes it will just go further and further and farther than you think. when you compare that to coming out of the financial crisis of 2008, we are now exceeding that in terms of the degree of overextension for the nasdaq 100. let's hope that folks have it right in terms that tech is the new defense. andnology and the momentum growth stocks are defense. especially when they are trading at decade high valuations. emily: bloomberg's abigail doolittle, thank you so much. i want to talk a little more about the extreme weather facing

the united states. are tracking hurricane laura, which is in the gulf of mexico. it was upgraded to a category four hurricane. places like dow list in a long big texas -- places like galves ton along the texas coast is not looking so lucky. thatst got some headlines 3000 national guard troops have been destroyed -- deployed in louisiana. winds could hit 150 miles per hour. when is this expected to make landfall? >> it will make landfall after midnight, local time. and probably 4:00 or 5:00 in the morning. it depends on its forward speed. it has slowed down as a continues to build in strength. it is really outperforming were folks thought it would be yesterday. emily: what is the expected path at this point, and how strong will it get? then: it will go right up

border of louisiana and texas. the winds could reach 150 miles per hour, which is just below category 5 strength. category 5 starts run 157, i believe. around 150 seven, i believe. the real danger will be the 20 foot tall storm surge. the water is already starting to rise. the hurricane center has described this as being on survivable. un- survivable word un- is pretty bleak. brian: if you are in the way of where they expect the storm surge, there is no question about it. people are worried about covid, i understand that, but the risk of death with this hurricane is almost certain. odds are better taking a

chance in a shelter, or just getting out of the way as quickly as possible. the other problem with the storm is that it headed toward some major refineries. will reach those refineries. the question is, how much damage will it cause and it derives. ? -- it arrives? emily: i know in dollar terms we are looking at $25 billion in damages. places and how little -- places uninhabitable for months. brian: when you put everything ofe on top of it, the depth insurance in that area is not very high. at all total losses you are talking about $25 billion. a lot of it will be flood damage. a lot of people don't have flood insurance if they rebuild. interstate 10 will be cut. rail line through

there. union pacific, canyon -- kansas city goes through there. all of those rail lines will be damaged or impassable for a short time. you have the refineries that will probably be knocked. off-line. 10% will be for weeks or maybe longer. emily: i'm in san francisco, our state is being ravaged by wildfire. air,moke outside with hazy and a few schools were closed because the air quality is so bad. dry conditions, wind. what are you looking at in terms of conditions? went onight before we the air i was talking to the meteorologist at the u.s. the weather protection -- u.s. whether production center.

there is no good news -- weather production center. there is nothing on the horizon that will move the smoke out. as long as the fires keep burning, it's a bad situation. ourselves.ill brace firefighters are fighting some of the largest fires in california's history. brian sullivan, thank you for that update. grilled theawmakers ceos of the four biggest tech companies in the world on antitrust, but what is next? what's happening now? we will speak to the house representative who chairs the antitrust subcommittee about his plan for the tech giant. one of my exclusive interview is next. this is bloomberg. ♪

emily: the heads of apple, alphabet and amazon and facebook all testified on their potentially anticompetitive -- anticompetitive practices. ledchair of the committee this. the testimony lasted over five hours. almost a month after that hearing i caught up with rep. which testimony shocked him the most and what proposals he has now for the companies and antitrust law going forward. rep. cicilline: what we have learned in the course of the investigation is that these platforms have enormous market dominance.

they have really monopoly power. it'll have competitors in a serious way. what that produces is behavior that monopolists engage in. favoring their own products and services. favoring their own -- privileging their own good. there is evidence of using third-party data. doing things to protect their market dominance. hiking fees and bullying competitors. we have seen the widespread spread of disinformation. we have seen a lot of anticompetitive behavior. i think the hearing with the ceos essentially confirms that notvior that there were good explanations for. now that we are going to the evidence and developing a report that will give a menu of options to respond to the market consolidation. emily: what responses from the ceos either shocked or surprised

you the most? rep. cicilline: not really anything shocked me. maybe just because you study these issues and you know that the acquisition of instagram by facebook was clearly illegal. for violation of antitrust laws it was clearly an acquisition of the competitive threat in the documents. mark zuckerberg saying that out loud -- he did not have a choice, we had the evidence. it was just surprising how quickly he acknowledged it. yes, it was the reason for the acquisition. i was very surprised that mr. bezos, in light of the committee's interest about the use of third-party data, third-party sellers, to in firm -- to affirm and doing goods and services under a private label

is essential to them. they are using their dominance of this platform to actually collect information to then use against their competitors on the same platform. am i of the fact that we received testimony from an amazon executive that was misleading. the idea that mr. bezos came to this hearing unable to say with any confidence that that was not the practice. most of the hearing prettyed there were's disturbing anticompetitive behavior by these large technology platforms and really underscored the agency of the work. emily: in your view our apple, amazon and facebook breaking anti-trust laws? rep. cicilline: what do we need to do to make sure their israel competition? i the existing antitrust laws existed to creating competition? doing you to modernize and

update those laws? do we need additional resources to be for antitrust enforcers? do we need to prohibit certain behavior explicitly? do we need to respond to bad legal decisions? but it's about policymaking. there is a lot of evidence of anticompetitive behavior. monopoly power. our goal is to look at what we need to change in the law. the antitrust enforcement has the tools that they need to do their job. emily: was there some companies that were more egregious than the others? rep. cicilline: there was behavior that was very problematic and significantly anticompetitive and an abuse of their market power. they are different. impact oning at their the web development and the fact that they charge a 30% fee to be in the app store. that, that's ase

pretty obvious anticompetitive challenge. but the all different, central theme is that they are using their market power by advantage income cells and disadvantaging competitors. bullying competitors, excluding .eople from the market there are implications, but it only gets back to the idea of the enormous power of these large platforms. because of their size, their market dominance in the absence of any competition. experts toid ask review the violation levels here. it was more difficult or unclear with apple and amazon. what is your response? rep. cicilline: our purpose was to learn about practices to understand the behavior of the companies and what it tells us

about the marketplace. what it tells us about the source of anticompetitive behavior. how those things are happening and why so we can fix them through a set of legislative proposals. legislationkind of will or might the committee proposed to congress to restrict the power of market place platforms? should amazon have to choose retail or third-party? rep. cicilline: i expect he will see some recommendations that will focus on modernizing the antitrust statutes broadly. at thetutes were written turn-of-the-century in response to the oil and railroad monopoly. there is no question that that issue of, do we need to just make sure they respond to the new and different economy. recommendations are text specific and can range in a number of things. things like portability and how am i impact competition policy

-- how it might impact competition policy. internet ego of the saying you can have a platform, but you cannot do both. there will be a range of opportunities for us to have this discussion in terms of what set of proposals might relate to tech. you might see ideas about revitalizing their enforcement. a lot of of people are thinking about the issue again. i the queue will see the discussion of agency reform and whether we need to produce some regulatory proposals. and are we providing the resources they need to do the work they are expected to do? the idea of what specific recommendations we will make. there will be a menu of them. the subcommittee has democrats and republicans. i am working hard to make sure we collectively brainstorm. emily: with jeff bezos, you

mentioned one instance where you said he did not have the information. what did you make of the fact that there were a few instances where jeff azo's said he would get back to you -- jeff bezos said he would get back to you on that. ? rep. cicilline: it's an example questions. answering they know if they answer truthfully it will be taken as problematic. hopefully we get those answers soon. i think it was really important to have the ceos there. they are obviously the decision-makers in these companies. what decisions they made and why and what was important. the first part of my conversation there with line ofsman david cicil rhode island. we will have more of that conversation later in the show

and how he plans to play out the rest of the antitrust location -- the antitrust. some companies expected to get out of the gate in the fourth quarter. this is bloomberg. ♪

emily: the data intelligence company joins a slew of tech companies expected to go public before the end of the year. debuts for unity technology, snowflake and doordash could all come in early fall. phil.re we are joined by of this flurrye of companies getting out of the gate all at once? i think it is a combination of factors. one is stock market performance, particularly amongst technology

stocks. outperforming the broader market is one. a lot of companies are eager to get out and go public before the pending election, which brings uncertainty. it looks like investors are willing to take on companies that show the growth story with narrowing losses, which is something investors seemed a little bit adverse to back to post uber, list and we work -- lyft and wework. i think it makes these companies want to go public now. they: hell in demand has private shares of these companies been -- how in demand has the private shares of these companies been? >> there has been an increase. the first wave of covid resign increase from our broadbase. but also from investment advisors and wealth managers that are expected to get these companies. i think that you are now seeing

an opening of ipo windows by way of direct listings means that investors see a path a can and may be returns a lot sooner than they expected. whereas previously in q1 they may have thought they had to wait. we are really excited to see the growth on the equity platform. emily: what do you make of palantir choosing a direct listings versus the ipo? phil: companies that are going this route are taking advantage of the fact that they could raise capital privately don't really need the cash from their traditional ipo. i think they're sitting on one and a half alien dollars of cash -- $1.5 billion of cash. and for a company to go public to the capital markets rather than succumbing to the ipo that i think was mentioned on your show. great onop looks

paper, but if you are the ceo of the company you are sacrificing a lot of cash. direct listing is the best way. other companies that have the brand power will continue to go this route. airbnb will probably get the lion share of the attention in a very differently -- different league. potentiallyng at another year of people not necessarily wanting to travel they way they used to. how do you think investors are going to evaluate a company like air b&b, given that the last six months, the most recent data they have is dramatically different from the first 10 years of the company's existence? b&b raisednk air

money for large institutions in march, april and may. they were willing to hear out the story that air b&b is a solid business, but may have a rough patch throughout the rest of the year. i think the way air b&b thought about it was, if we can raise capital for the markets dealingy rather than with the retail fallout, we may as a do that and into the markets where we want to. i am surprised we have not seen the announcement in q3, given that there is not much time with the election in november. it makes sense on why the other companies decided to go public. if you want to go public now, you should do it before air b&b. that could take attention away from the traditional investors that were going to put money into your company. emily: phil haslett there.

lots to contract over the last -- next few weeks and months. thank you for joining us. we are going to have marc benioff, the ceo of salesforce to talk about a monster quarter. what's next? we will ask him. this is bloomberg. ♪

emily: welcome back to "bloomberg technology." i'm emily chang in san francisco. salesforce shares surging with the company on track for its .est day on record this coming wednesday after the company reported second-quarter results that were far stronger than expected. there with more we are joined by salesforce ceo marc benioff. .hank you for joining us shares ending the day more than 26%. up a huge quarter. what were the primary drivers of you saw as standouts in a pandemic quarter? marc: emily, these have been

such challenging times. in many ways, this moment is humbling and also bittersweet. we have seen so many of our customers go through so much difficulty this quarter. but i think that we can look at this quarter and look at everything that's happened with salesforce. we strongly believe business is the greatest platform for change. we continue to work with our customers and use our customer 360 platform to help them transform their businesses to get closer to their businesses. areat the same time, we very much looking at this as a victory. ourave a great return for investors. that they 5000 return since we went public in 2004. it's also a strong return for stakeholders. we have done aliens of hours of

volunteerism. we have given away hundreds of millions of dollars. we have over 50,000 for free.ons you can look at oakland and public schools where we live and we just delivered another $20 million this quarter to them, which brings our total contributions to over $120 million to our local public schools. maybe that is what i'm most proud of of this quarter's a competence. absolutely, we have covered some of your recent efforts in education. salesforce market cap is higher than oracle. you were a young oracle employee back in the day. you and mary ellison have sparred a bit over the years. how does it feel to surpass your biggest rival for the last two decades? marc: i will tell you that i am really excited about our customer success. on. is really what i focus

when i get questions like that, or other questions around the personal aspects of business, the reality is, nothing is more important to me them the success of our customers. i look at a major win for this quarter at at&t. we find this amazing transaction with at&t in february. this quarter we deployed our first 35,000 users there. hundreds of stores are now live. we are building them truth when you walk into an at&t store. when someone comes to your home to install one of their products. they are able to use our products to know everything about you. that is what i focus on every single day. i focus on our customers and stakeholder capitalism. running a business is doing well and doing good. this is my primary focus. at the endl issues of the day, relationships are internal. business is somewhat temporal. it's important to focus on

what's truly important, which right now is our customer success. talk about whether the growth in the cloud is -- itnable, or whether means things will slow down when we come out of the pandemic and shift to whatever new normal is. marc: we have seen this as a long-term growth driver were salesforce is 21 years old. we have had a lot of news. it's basically the end of software. everything has moved to the cloud. salesforce is the largest enterprise application company. we have made our name on the idea that you can easily give value from this cloud solution. that it's fast to install. fast return on the investment. that the transformation you want for your business, regardless of scale, can happen instantly and

powerfully. that you can get tremendous roi. this is why salesforce continues to grow. you can see salesforce will do more than $20 billion in revenue this quarter. that is amazing. we have more than 54,000 employees. this really allows us to serve any customer in any part of the world and demonstrates that the cloud israel -- is real. it's the end of software, those are some fighting words. i wonder how some of your competitors like microsoft would feel about that. entering ak we are new era for technology? the end of software, i said that first in 1999, so i had to pull that out. i so squarely believe that we needed a new software model, a

new model based on the cloud, a new business model where customers pay as they go. we also need a new philanthropic model. these companies have been the month -- have not been the most generous philanthropic to communities. that's why i started salesforce. i left oracle almost 22 years ago. those threei took goals. can we create a new business model, a new technology model or a new social model for business? we are trying to inspire a new industry, a new set of values. values based on trust, customer success, on a quality. inspirerying to stakeholder capitalism. dead.ional capitalism is we need a new one, more sustainable, more just capitalism. a more equitable capitalism. example of to be an

that. certainly at our headquarters in san francisco, and everywhere we go around the world. when we have a quarter like this it's evident that stakeholder capitalism not only is good for our communities, but good for business as well. emily: you are planning to cut about 1000 jobs. if things are going so well, why do you need to make these cuts? marc: that is a good question. these are such challenging times. whenever we make job cuts and a look over the 21 year history that we have done that, it's ethical. running a business. there is no lifetime employment at sales -- sales force. the key principles of stakeholder capitalism. we have to do what's right for our business and growing our business and succeeding our business. we will make job changes and shifts and eve evolved. as our markets shift and as our customer shift and product portfolio shift, we make changes

to how our employees are balanced. we have 54,000 employees. you can assume that every year we will rebalance 5% to 10% of those employees. meantime, you are expanding family paid eve, giving current six weeks of paid time off at the pandemic continues. you are covering more childcare expenses. you say parents can work from home is longe schools are remote. you have a lot of parents saying they wish they were for salesforce. is this something you believe other company should be doing? every ceo has to make changes. we had to make changes as well. i looked at our force quarter and we are in a pandemic. we are in an economic crisis. we are in a social justice crisis. we have to make changes. we could not run the same plan or pray but -- playbook that we in 2019.

this is 2020 and not the 2020 we thought we would have. we are making changes to every aspects of our business. benefits have to evolve and change based on people like me. i have not been to the office from all six months. that's amazing but that's true for all of our employees. some of our offices are back open, like in japan and some places in europe. even where our offices are open, employees are not coming back. we are in a new world and we have to build new products. we built a huge -- a whole line to allow our customers to get back. then he contact tracing, shift scheduling and workforce command centers to manage the relations with the pandemic. even know what contact tracing was six months ago, now we have deployed it for over 35 states in many countries. thousands of businesses are using our contact tracing so they can keep track of their

customers and their employees who are impacted so severely by the pandemic itself. look, you have to make changes, we are in a new world, those changes will impact every part of your changes, your benefits, your products, how you distribute your products, your offices. every part of the business has to be shifted. i am a fan of the japanese. one of the great things they talk about is being are's mind. there is every possibility. in the expert's mind there are a few possibilities. moment we all need a beginner's mind when it comes to our business. jack dorsey has that employees can work from home forever. it sent the -- is that something you would consider or is that an overreaction? marc: we don't really know. this is my first pandemic. i have not been through a pandemic before. others have been.

our employees in the asian countries have gone to very severe pandemics, but i have not been through a pandemic. i don't know if our employees will work from home forever if they will come back next year, but i know we will have to keep an open mind for what the future of work looks like. at this point our customers need to sell from anywhere. they need to service from anywhere and market from anywhere. they need to conduct e-commerce. not expect huge acceleration in our e-commerce business. you look at our core e-commerce customers and they service their e-commerce businesses in this quarter. it's all driven by the pandemic. the pandemic really causes you as a ceo to reassess your business, every part of it. all of us have to make those changes. this is a clerical time to make sure you are relevant and that your employees are participating. that they are well trained.

and that you are able to execute the new strategy. i think a lot of ceos are still implementing that, the right now everyone needs to make those decisions. emily: president has taken the fight to china. two months to go until the election and is trying to ban tiktok or force the sale to a u.s. company over national security concerns. the company's rooting for it include microsoft and oracle, which are two of your competitors. what is your take on the president's handling of this, and how will it impact the tech landscape given that tiktok is the biggest competitive threat to facebook? i know you have strong feelings about facebook. marc: when you look at social , and wempanies, emily have talked about this exhaustively. that these companies need to get to a new level of their core values. our new -- it's addictive. it's not good for you.

it needs to be regulated by the government. i have been talking about that for several years. i will think people realized until cambridge analytica. the things that facebook has been doing with their data and their inability to say that trust and truth other highest values. but they don't value the truth that all is shocking to me as a ceo. so social media, this has to be at the tip of our sphere, our government has to be involved. they need to start regulating these companies and holding them accountable for what's on their platforms. we look at the amount of misinformation and miscommunication regarding the pandemic, i just cannot believe it. i see that today and everywhere. people do not realize the criticality of wearing a mask and keep in social distance. people keep debating online and that is why it shocking to me. have been really

active trying to improve the homeless situation in san francisco, even pushing for an attack on companies to combat homelessness. it has gotten worse in the middle of the pandemic. what more can be done. what do you think, what are you advocating to be done about this. ? marc: for years i have been calling for more funding for the homeless. you would be surprised at how little funding there is. process ind better programs. that is why i am funding a very significant multimillion dollar initiative at the university california san francisco studying the homeless situation. they have made a number of recommendations for policymakers will have little understanding of how to manage the homeless. there is a lot of mythology around the homeless. it's why went to the scientists to make it crystal clear with these policymakers need to do,

and they still struggle. at the city level and the state level and the national level. we can deal with the homeless situation. we know how to deal with it. we need more funding. we need clarity. every homeless person needs a home. when you get people a home they have less simple dumps -- less symptoms. they have better behavior. it's a matter that our local leaders need to get deeply committed to. on,y: as the pandemic drags sometimes we hear positive news about vaccines. bill gates told me he does not think we will be out of this until the end of 2021. what are your biggest concerns as the pandemic continues? marc: i am not an epidemiologist. for advice onstar what to do and how to look at the vaccine situation is not me. we don't know what the vaccines will bring.

there are over 100 vaccines under development. we don't know how many injections you will need. we don't know the degradation rates on the antibodies or how often you will need these vaccines. we don't know which one will be the most effective. we are still in the middle of the pandemic, which means you need to wear your mask, do social distancing, don't gather in large groups. this is still a very serious situation. i look at a place where i spent a lot of time, in hawaii, and the mismanagement our government in hawaii is amazing. at the state level, the county level, the amount of misinformation. but there is not a mask mandate in how i -- hawaii. there is no one who says there is a $100 fine if you don't wear a mask. that is still a debate in hawaii. debate.l media it's a we know it's a respiratory virus and is stopped by wearing a mask and social distancing.

wear a mask. another thing i am funding is can we build the best mask in the world? we are putting up a million-dollar prize. encouraging kids 24 years and younger to submit their masks. we have hundreds of entries. we need a great mask. that's one way we can go after this pandemic and resolve it once and for all. benioff, as you know i'm from hawaii. my heart goes out to the people in the state. salesforce ceo marc benioff, thank you for joining us. coming up, the second part of my conversation with david cicilline. tiktok and which presidential candidate he thinks will be a can't -- will be for antitrust enforcement. ♪

tiktok is now suing president trump to overturn his it goes intoer, if effect it will ban the viral video app in the u.s. microsoft and other tech companies are in talks to buy tiktok operations. i spoke with representative david cicilline and asked him whether the sale would be a good idea. cicilline: irep. think there is no question that facebook needs competition. that is why some of the discussion about americans buying tiktok and operating in the united states is exciting because it will bring competition to the space. exciting is is not

to see a president in jacked himself into that transaction. if there is a proposal to require tiktok i in american company, it should be reviewed by our antitrust agencies. the determination should be made whether it's procompetitive. whether it enhances competition. we will look at other national security implications, which is always appropriate to consider an international transaction. but the president should not inject himself as a dealmaker between private entities. emily: when will your report be out? rep. cicilline: my hope is that we will complete the report and it will be ready for publication in the early part of september so that we have an opportunity to introduce legislation is recommended. emily: what discussions have you

had with the trump administration about your investigation? rep. cicilline: not many. i did have a conversation with my republican colleagues and the president's special representative on trade, related teariffing.s -- and the platform, obviously it provides other things. that was really the only discussion i had with the administration. emily: what discussions have you had with biden's team? rep. cicilline: i have not spoken to the vice president about antitrust. i just know from the long record of the vice president that he has a very well-established record of fighting for working people and fighting for something that works for everyone and against this merger thatga

resulted in this terrible imbalance in our economy. as a great champion of the middle class, i have confidence that he will be a great champion of antitrust. and that he understands in his bones about what it is for workers, families and consumers of this kind of corporate consolidation and economic power by these large technology platforms. i fully expect that he will appoint people that will be aggressive in antitrust enforcement. i expect he will support legislation that will bring the legislation into the digital marketplace. he certainly knows firsthand what the implications are for democracy as a result of the spread of disinformation on these large platforms. he will be a platform for good antitrust. emily: are you interested in playing a role in the biden administration? i'm interested

in playing a role in congress and passing really good antitrust reform. emily: what kind of changes, in your view, need to be made to the u.s. enforcement sector? now that you have collected all of this information -- elizabeth warren is saying you have to choose with being either a platform or a merchant. is that a choice that has to be made? rep. cicilline: my own view is that we have to take steps to ensure there is real competition in this marketplace. one of the ideas that has been separating the production of goods and services and the marketplace. i think it is a really interesting idea. whole menu of ideas that the subcommittee is considering. it's really important to me that

before i tell you my own view, i continue with the subcommittee members to build on this. and thehe report recommendation to be as bipartisan as it can be. ideasare a range of smart that i think will present our colleagues at the menu option to get competition back in the marketplace. emily: we hear you are coordinating with senator amy klobuchar, is that a strategy to get senators and the senate on side? rep. cicilline: senator klobuchar has been a champion of antitrust and focusing on the competition. onre are a number of people both sides of the aisle that have spoken out a lot and have introduced legislation. i am working closely with senator klobuchar to be sure that they know what we find in our investigation in the hopes

that we can work together to enact this. we need to respond to the market dominance of these large platforms and get competition in the digital marketplace. emily: are you working with senator warren? rep. cicilline: we are in regular contact about the investigation and their ideas. emily: do you think you have a smoking gun? you have selected millions of documents. you have been doing this for more than a year. you have anything that is a clincher? rep. cicilline: there are lots the conduct of the large technology platforms are devastating for consumers and small businesses. we have lots of examples, or i think it will be clear to the american people of why we stick

to this problem. there are a lot of smoking guns. emily: representative david cicilline of the house antitrust subcommittee. that does it for this edition of "bloomberg technology." our special coverage of the republican national convention is tonight at 10:00 p.m. eastern time. don't miss it. this is bloomberg. ♪

>> a very good morning to "bloomberg daybreak: australia." >> i am shery ahn. i: u.s. stocks extending expectations of loose monetary policy and optimism about the economy. hurricane lauren gather strength. china offers concise engine a bid to lower tension t