over the new election laws, arguing lawmakers rushed through an overhaul with the intent to deny black voters equal access to the ballot. merrick garland says the federal government would take action if prosecutors found unlawful activity. >> two weeks ago, i spoke about our country's history of expanding the right to vote. i noted that our progress on protecting voting rights, especially for black americans and people of color has ever been steady. -- never been steady. >> according to the brennan center for justice as of mid-may , 22 restrictive laws have passed at least 14 states. on saturday, former president donald trump will resume his signature rallies. the first stop outside of cleveland ohio is part of a

summer revenge tour. -- against republicans. it will be one of the biggest platforms for president trump who remains barred from social media. republicans like mike dewine are skipping the event. matt hancock is apologizing for breaching pandemic rules after being pictured embracing a senior aide but says he will not resign from the government. 's apology came after the sun newspaper published two photos of him with a woman. in a statement, hancock says he knows he let people down but remains focused on getting the country out of the pandemic. global news, 24 hours a day on air, on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton. this is numbered -- this is bloomberg. ♪

>> welcome to bloomberg: markets . >> welcome both our bloomberg and bnn audiences. these are the top stories we are following for you from around the world. we will discuss the latest on the bipartisan infrastructure deal that faces hurdles in congress as former transportation secretary rodney slater. plus an update on virgin galactic as shares soar following faa clearance for customer spaceflights. and canada pushes ahead with sports betting. the senate passes legislation that will legalize sports betting. we discussed that with a guest. amanda: we are watching, of

course, the s&p 500 as it will trade to stay in positive territory and close at a new record. this is the best week stocks have seen since april. we have seen thin trading overall that it is still positive. you can see tech is showing up a little bit weaker but they are positive on the s&p. nike is one name jumping out. on that third quarter but also the upbeat outlook. it is hard to ignore bank of america, citigroup moving up. as experts price in the expectation of dividends and buybacks. the banks have also been influenced by what is happening on the curve. you can see the yield on the 10 year is backup above 1.5, but just barely >> -- just barely.

there is of course lots of betting. virgin galactic, we are watching that stock sorta space, you might say -- soar to space, you might say. we are keeping our eye on inflation. we got that read on personal spending which did decline, but it was the pricing component that was jumping out. you can see what that does to the real fed funds rate. to what extent is the fed right? the old joke about economists is they see something working in practice and wonder if it would work in theory. it feels like we are living in that time. matt: and this is the core number, so it does not even include the things we need to live like food. could not see the real rate, but

obviously the higher pce goes, the higher inflation goes, the lower the real rate falls below zero, amanda. amanda: exactly right. we are watching version elected and its move higher today. ed ludlow is with us now for the latest on this. the stock is responding extremely well. the race to get commercial passengers to space is very much on. where do you think this clamps - - plants version and how quickly this becomes a viable opportunity for people to get into space? >> investors recognize this is a significant step towards commercial space tourism. the first time the first time the faa has given approval for private citizens to going to space. it is the first step. virgin galactic does have more

tests to run over the summer, including sending their founder of. we don't have dates, but we do know that blue origin has not yet achieved faa regulatory approval. they have an application pending , but this is a real win for virgin galactic in the race to make this a viable business. matt: hang on. blue origin does not have approval yet even though jeff bezos plans to go up in just a couple of weeks? >> correct. the faa confirmed this was the first license of its kind. it is not unusual for the faa to approve a license on the day of launch. when spacex is sending up payloads and the windows are being cleared, that approval comes day of, sometimes in the day prior.

so it is not typical but it certainly adds to the race and the tension between these billionaires and businesses to carry private citizens into space. amanda: what is the end goal here? it hadn't occurred to me that if you fly on this, you are considered an astronaut. what is the actual commercial reason for this? >> you might get a badge or certificate to say you went into space. virgin is very much on the tourism site. basically, they charge a price. first 600 waiting list people were charged 250-300,000. they talked about research missions where they sent scientists costing around 600,000.

right now, it is really in r&d phase. they have a lot of testing, but that is have they plan to make money, just a short trip for private citizens and more expensive trips for researchers. they have a mission do with the italian space agency later in the summer. matt: i am actually looking at nasa's website. to qualify, the very first thing you have to do is be a u.s. citizen, and then there are a number of tests you get to pass, soy don't think you get to be an astronaut just for flying low the carbon line, but you can still have the patch. ed ludlow care -- covering the space race for us. thank you for that. coming up, we speak to rodney slater about the u.s.

infrastructure deal. this is bloomberg. ♪

matt: this is bloomberg: markets . president biden scored a win yesterday, at least visually, by sealing a bipartisan infrastructure deal but the agreement still faces a comp pitted path in congress -- complicated path in congress. here is the president speaking about it yesterday. >> this agreement represents the

largest investment in public transit in history and the largest creation of rail since the history of amtrak. you all know i have nothing but affection for amtrak. matt: certainly, a lot of money is needed. that something both sides agree on. joining us to talk about it structure is the former secretary of transportation, rodney slater. think you very much for your time. i would like to ask about this deal. this is a compromise that democrats have made with republicans. if you and i make a compromise but i tell you at the same time i'm going to take everything else i want by force, why would you even to enter into a bipartisan deal. does not make a lot of sense other than the optics of it, politically. >> i think it is about more than this is about demonstrating we can come together across the

party divide and to do some things that are big and important to the american people and the nation as a whole. one point the president made time and time again during his remarks is that we have to compete in an international marketplace and we have other countries that are spending much more on their infrastructure and we are falling behind. we are still the most mobile society in the world and that goes to the core of who we are as we seek to pursue happiness and become this more perfect union. we have got to invest in our infrastructure and to do things that are big in the u.s., and madison was instrumental in creating this challenge, in order to do things that are really big, you have to work together and that is the signal we got both from the president and members of congress. amanda: the infrastructure

deficit is enormous. literally the number of bridges that are deemed unsafe will turn your hair white. matt: too late. amanda: will this money go. needs to go? -- go where it needs to go? rodney: secretary buttigieg, who was just recently in my home area of arkansas dealing with a bridge that is out of service because of a crack. then you have got this bridge connecting ohio and kentucky. you have got these major quarters of freight and movement of people across the u.s. and many are in states of disrepair or clearly need to be shored up and this is not even getting to the important issue of broadband

, which i think is critical and i applaud them up for pushing on this issue in particular. you have the issue of water and removing lead pipes and that is very important when it comes to the safety of our youth. so i think this effort is worthy of salute at this point in time, but clearly there is much more to be done. we have got to move on high-speed rail, mag lab, there is much more to be done to be sure. matt: the thing about infrastructure is if we get ahead of this problem we create an opportunity and can generate a heck of a lot more revenue, grow gdp in a supersized way if we especially outcompete other nations on new technologies, and

as a silver lining, we can also drastically reduce our carbon footprint. why aren't we talking about $10 trillion over the next decade? >> number one, we will hear more about what we need to spend but were member the president started out at 2.3 trillion and i think he will plan to at least make that argument. he understands the value of this compromise. it is not all that needs to be done but it is a good start and there are ways for us to do with infrastructure going forward where we engage the private sector. there's a lot of money on the sidelines when it comes to investment in our infrastructure system that we may be able to incentivize to come to the arena with us and move forward in an aggressive way. i would also like to pick up on a point amanda is making as

well. the u.s. and our european allies, many of behind and this was a central argument that the president made as well. he was saying that there were those who believe that the days of the west and its ascendance are behind us and the days of the east are ahead. he wants to say america is back, we are engaging with our allies and we want to demonstrate that democracies can continue to function and function well and deliver benefits for their citizens. in order to do that, you have to have some degree of cooperation. this is a major down point -- down payment on that regard. you will see that on a lot of fronts to make sure we are competitive in the years to come. amanda: so get to have your perspective.

rodney slater, former usa jerry of transportation. thank you for your time. the montreal canadiens have a chance at the stanley cup playoffs for the first time since 93. canadians can't bet on it at home but they will soon. we will talk to john levy, thesc ore ceo, about the change.

amanda: this is bloomberg: markets. a big change in canada. it comes as the canadian hockey team could win the stanley cup playoffs. we just saw our parliament here legalize online betting. it passed the senate which is the second chamber here. the only thing left is the so-called rubber -- royal

assent, because we were once a colony. it would legalize sports betting, a big deal especially to the companies that have been in this business a long time. matt: absolutely. to me, not only do i think of canada as in some ways the wild wild west, you have been legalizing a lot of things much later than we have in the u.s. and something like betting, especially as a member of the commonwealth, english kids are spread betting by the age of five so i considered that would have thought canadians grew up with it. great timing now. i don't know if it is possible to get it done before the stanley cup, because it would be good to lay a wager on that one, wouldn't it? amanda: let's ask the man who knows. john leavy is with us.

this is a big deal for your company. what changes for you with the passage of this bill? >> this is momentous. apropos to what you were just commenting on, the truth of the matter is people were betting up here. it was all happening in the gray markets and there is just this little provision in the penal code that prevented betting on single event games and once that got amended this week, it is now back over to the provinces to manage and regulate sports betting and wagering. very similar process to what happened in the u.s. aired -- in the u.s.. the irony is thescore has been around for a long time in canada. we've moved into the digital landscape with our mobile app, and it was our opportunity to

get involved in sports betting and we actually did it in a way that was involved with everyone else because rather than being this big advertising vehicle, we said to heck with that, we will be the betting operator, and that is what we did. we launched in four states in the u.s. aired that in the u.s.. -- in the u.s.. we were waiting for the same thing up here and it happened. it looks like ontario has been doing this the last year and they are going to be ready to go. we may not be able to do it when they win the stanley cup, but hopefully by the end of this year we will be operating. matt: i can still make a bet with amanda, but why are we seeing this wave of sports

betting? previously it was illegal, but clearly most people were doing it to some extent or another. have the puritans just washed away? john: they are still around, i think. i think the reality is one of the driving forces is that, number one, sports betting is prolific across america. black market, gray market, old-style bookies. it's not like it is in one of the reasons was this unfortunate, horrendous, pandemic. that forced governments both at the federal, provincial, and state levels to say we have got to start refilling our coffers. we are spending like crazy to keep things going in here we have this business where literally billions of dollars are being wagered and none of it

is falling into state or provincial coffers. they're saying what are we going to do? raise taxes? why don't we just license cannot regulate them and attacks an industry that already exists, bring it into the light, and that was a big catalyst, to be honest. it was just so overdue. maybe they were looking for any excuse, but it's final. matt: we hope to get you back soon. john leavy, chairman and ceo of thescore. what if we parlay and bring in the fed taper as well as the stanley cup? for amanda lange, i am matt miller. this is bloomberg. ♪

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>> i am mark crumpton bloomberg first word news. this afternoon, derek chauvin

will be sentenced, capping a murder case that spurred international protests against racism and police brutality. chauvinist faces a maximum of 40 years in prison after a jury found him guilty of murder. he knelt on mr. floyd snack for over nine minutes, ignoring mr. floyd's repeated cries that he could not breathe. the u.s. department of justice is suing the state of georgia over the new republican backed voting laws, including provisions that make it a crime to give water to voters in line. critics say the law is unconstitutional and intentionally discriminates against black voters. businesses have weighed in, major league baseball pulling key events and the revenue they generate from atlanta. >> the widow of john mcafee has her husband was not suicidal when she last spoke to him. the british cybersecurity pioneer died in a spanish