♪ romaine: let's take a look at where we stand. investors shrugging off a wild week in washington. all of the stocks at record highs. what did you miss? caroline: you took it all but we learned that the white house is offering all kinds of stimulus. president trump now saying he wants an even bigger number than what the democrats proposed.

we are talking about the relief, but what about the underlying illness? it is as strong as ever. hotspots week, we saw in new york, texas, california. outside the u.s., surges and france and spain. new records being set. the u.k. locking down again. it is pretty big layout there. coronavirus has change the way we function in trade. some employees working from home permanently. people have to re-confront that this virus is here and it is coming back. romaine: i think that is the key word. we partner with johns hopkins university to track this data. as of midday today, you have about 3.7 million confirmed cases around the globe.

more than one million deaths. this chart is what is giving people a lot of concern. what transpired over the last week. a rise in cases. 9% jump in spain. 14% jump in the u.k.. 16% jump in france. you have the government talking about declaring a state of emergency. germany saying they face a crucial moment. johnson saying he will outline new virus measures on monday. you have to wonder what this all means for the economy. caroline: angela merkel getting worried even though you see germany tracking much lower. ,t shows how worried there is even when they seemingly have it under relative control. let's get our opinion columnist in here. he has been all over the story ever since march. sees exhausting that people

this enemy that will not go away. >> that is the thing we are very much finding out. at europe, which has, relative to the u.s., a successful summer. in many cases, they are getting their economy back up and running. now facing this very concerning second wave. what you are seeing in these , they willesponses take longer to work. i think the unfortunate news to , these countries are taking these renewed restrictions. that is the way the virus works.

it will be longer before you start to see some evidence of control. romaine: we talked about this issue. we still do not have a vaccine.

>> there will be some time before there is a population level remedy or vaccine. there will be limited supply for the rest of the year, relative to the number of cases. 50,000 a day of the united states. we still do not know how well they work in more severe patient. or what the potential uses. in terms of vaccination, two different questions. where you might see data from it phase three trial, that could happen in on the next month or

so. but in terms of wide availability to the point where you get a durable impact on the , that of transmission will be likely sometime next year because of manufacturing constraints. this is historic infrastructure. it is still being worked out. caroline: building confidence to take those shots. i didn't realize this was such a political football. saying the u.k. might fast-track a drug to quickly. and president trump would follow suit and green light some

covid-19 vaccine. realize was deemed safer. >> there could be divergence. this would require safety data. think the u.k. has submitted to a similar threshold.

you have to get this right. you are giving shots to millions of people. this could deter vaccination. it is more than just the pandemic. romaine: always great to get your insights. coming up, we will continue on this topic. be potential we may all working from home a lot longer.

we will talk about this coming up next. this is bloomberg.

romaine: today we are focusing on covid. the idea that we will have to re-confront the pandemic and the fallout from it. this is something we got familiar with. caroline: we sort of have this drip feed coming from certain companies about how they perceive the next six to 12 months. you have heard today they could

let their employees work from home. that speaks volumes. maybe we get some kind of that -- balance to our life. romaine: you get the idea of where the problem lies. better opportunity of working from home. they have the ability to telework. more of the manufacturing industry.

this has longer-term complications for the economy. somebody who tracks a lot of this is martha gimble. what share of the population is perhaps working at home during the pandemic? >> as of september, you have 20% that is working from home. if you have a high school degree

, you are probably not working from home. people are working from home right now. caroline: there are a lot of implications for inequality that we continue to see rising. about who is hurting right now. and whether you see any ability to work from home. for some people this has been a really positive development. we are having to confront a

problem we never thought of before. there are industries that will not be able to function. unemployment is down almost 50%. industry that it is really hard to do the job. people want to get out and see theater. keepnt to see how we will certain industries surviving. i'm concerned about some of the structural shifts. there were a lot more office workers. be physically and in office.

i am wondering if this accelerates that trend. we want to see where people are in industries. to some extent, what you are seeing right now is a rubber band. a lot of employers will be enjoying working from home. and they will keep that moving forward.

we will not be having the same rigid demarcation. in the office, out of the office. it will allow workers some flexibility in their lives. caroline: it is not just political analysis. they are talking of people retraining. we can all pay lip service to that. what will leave us high and dry and passionate about working in these areas? seeing that flexibility and passion? does the economy shift in some way? thiswant to push back on training focus. it is not the case in february

that we have some kind of crisis. they literally could not go to their place of work. we need to be making sure that people support their families. until there is that moment when people can go back to work. particularly for the arts, there is not a real reason to retrain those people. i want to take this moment to point out that if we all run out

of netflix, everyone will be sad. romaine: we have had people of this network talk about the slowdown in production. how that has had an effect on streaming services. are you seeing people seeing this? people not doing what they would normally do? are they waiting it out and they will come back to those jobs? >> a lot of this is anecdotal. it seems like they're people wanting to move on. those benefits are gone.

those percentages are very small. people are having to make choices. caroline: we went to thank you for your thoughtful perspective. talking of safe and healthy, trump is set to rally in florida on monday. the first census covid diagnosis. it was just monday of this week that he left the hospital. we will see who will be attending the rally of florida. it is notable that he is keen to remain on the campaign trail. he has obviously brought a lot more attention of what is going on with the covid crisis. we will continue that focus here. how some investors are starting to stay back. rallied,the ones that

they have the idea that they will be at home forever. we will talk about that a little bit more. this is bloomberg. ♪

♪ caroline: today we are focused on confronting covid. and the new reality it represents. investors have adjusted to this new landscape. the sector has continued to soar. are talking about zoom videos, peloton, amazon. they have really rallied on this idea that we might be stuck in the house forever. it will be interesting to see if those trends do remain. i am confused.

it does same people are gravitating back to this. that stocks are rallying. >> we have come to this interesting intersection. the likes of the names you just mentioned. zoom, peloton, home food delivery services. we have seen the reopening basket, which is airlines, hotels, cruise lines, rallying at the same time. that reopening basket up 2.5%. this is leading to a broadening of the rally. we have seen this be dangerous

and narrow. you look at the nasdaq 500. the reason we are seeing this is all areas of the market are rallying. it is interesting we have seen the split. the cyclical areas are performing better. it you think they tech is some kind of hedge? you think they would be building on a potential of abide in wind. -- win. >> it is a bit surprising. we have seen these headlines

before. we have never seen this discussion turned into policy. it seems that policymakers are serious. they think this is a major issue. they think this is an underappreciated risk going forward. especially if people believe the narrative that investors are pricing in a blue wave. caroline: as always, telling us straight. have highlights of everything that has happened. killer mike was on, who is now a

banker, apparently. he definitely has to be on the podcast. romaine: check it out. that is our weekly podcast. caroline: it has been such an enjoyable week to be with you all. stay well. this is bloomberg. ♪ . .

♪ taylor: this is bloomberg technology. i am taylor riggs, and for emily chang. theng up, we speak about antitrust report from legislators and if the findings are a threat. .lus, demand for gaming we speak to the ceo of super league gaming on one of th