>> from the heart of where innovation, money and power collide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. ♪ scarlet: i'm in for caroline hyde and bloomberg world headquarters in new york. alex: i'm in for ed ludlow in san francisco. this is bloomberg technology. scarlet: coming up, and escalation in u.s.-china tensions as china bands computer chips. alex: plus a record fine for medic, ordered to pay 1.3

billion dollars the eu after regulators say it failed to protect personal information. we will break that decision down. scarlet: forward is stepping up the electrically loud output after reaching a series of deals to buy lithium from projects in canada to chile and we will hear from the ceo later this hour. alex: first we want to give you a check on markets and where things stand at midday in new york. it's very much a wait and see game when it comes of the broader equity market on the debt ceiling negotiations and what the federal reserve decided to do with interest rates. the debt relief is back on the table in washington, d.c. and techksontinue to be the outperformer. chipmakers are under pressure and we will get to that later. the nasdaq 100 is at a 13 month high with financial stocks up by 1/3 of 1% with jpmorgan chase pulling its investor day and

pack west, the lender does not holding in this etf but it's boosting his liquidity by selling real estate loans at a discount. the two year yield is ticking up to 4.3% so expect a lot of movement based on incremental movement, hopefully progress in the debt ceiling discussions. just take a look at commodities. crude oil has flipped to the upside. copper is down by one point 3%. a lot of concerns over what's going on in china, the post-covid rebound is not as strong as many had hoped and the lack of fresh stimulus measures in china is holding back some of the metals. the hanseng index was affected after joe biden said he expects u.s.-china relations to improve. greek stocks are getting a big day. they made a new 10 year high

after national elections and looks like the incumbent prime minister is in position to get another four-year term which is a good thing for his investment friendly policies. what about you? alex: i am watching the top tech movers today. we have meta-, investors are taking that 1.3 billion dollar fine in stride coming from the eu perhaps because the company has in the past threatened to leave it there is not a resolution on the eu's push for them not to send user data overseas to the u.s. albemarle is a company that inc. a lithium partnership with ford. ford has it an electric vehicle plan and investors are liking albemarle who is tied up with that. in terms of the cybersecurity space, there is our top name of the day, micron. china's cybersecurity regulars said it found relatively serious cybersecurity risks when it

comes to the company's chips. whether this is political banter or there are actual risks, we will break that down. for now, investors drove the stock down around 5% and it has. some of the losses but we will get into the details soon. scarlet: let's stay on that because we will go now to san francisco and bring in ian king who has covered semiconductors in asia and the west coast. as alex was setting up, it's curious this ban on micron products. what kind of history does micron have with china specifically? is it significant? >> there are a number of things but the big thing to point out is that micron and its south korean competitors doesn't have a production plant in china. those guys do which makes them a little bit closer to beijing in

terms of what that country wants to do with domesticating its own ship industry. the negative thing in the past for micron is they went to court with a taiwanese country, -- comfort -- court saying that company was stealing its ip to give to china. there is real tension there in the past. scarlet: micron is caught in the middle of this political banter. if you are qualcomm or intel, should you be worried you are next but and if not, why is micron on the hot seat? >> china needs qualcomm, china needs intel, china needs broadcom but it doesn't need micron. the chips that micron makes are basically exactly the same as the ones that samsung makes. literally, you can drop them into a piece of electronics and put went out and put one in but you cannot do that with other products from those companies you mentioned. that's what's going on here.

scarlet: that's incredible because micron's memory chips are pretty standard components as opposed to the nvidia graphics chips. much is china giving its own domestic industry some time to bloom? >> if that's the plan, we are talking a decade or two before they will have equivalent capabilities. this is being seen as more of beijing having to take it on the chin. we've seen these actions by the u.s. government against chinese technology companies and beijing has had nothing to fight back with apart from micron. it can take a swing at them. scarlet: thank you. i want to bring in the washington angle on this. we have kailey leinz. as we see this back and forth between beijing and d.c., what do you think is next or does d.c. have a response? kayley: we have already heard

from the commerce department on this, saying that beijing's conclusion that micron poses a cybersecurity national scaredy threat is no basis in fact. they say this action along with recent actions that beijing has taken is inconsistent with china's assertions that's opening up its markets and is committed to a transparent regulatory framework. that's the u.s. response. china for its part in releasing this conclusion says it wasn't political and it is about national security but it kind of has this sense of an escalating fight between the world's two largest economies when it comes to this technology. the u.s. has already taken plenty of action on its own and it has blacklisted certain chinese firms in late last year, they introduced a sweeping restriction on selling advanced semiconductor manufacturing equipment to china. scarlet: it's ironic this is happening as president joe biden is in asia attending the g7 summit making comments about he

sees test how he sees u.s.-china relations improving. give us a context of what he was referring to? kayley: he was pokey -- he was speaking before he left the g7 meeting and we were asking about china and the question around sanctions to facilitate a meeting between the defense secretary and his counterpart. we understand that is under review by the administration with something potentially in the works. he referred to the chinese spy balloon incident they captured our attention earlier this year, he called it silly saying he expect relations between the u.s. and china to thought in the near term. it poses an interesting contrast between the tone of the president's remarks over the weekend versus just china making this move against a u.s. company. alex: this isn't the only big conversation happening in d.c.. it is the start of the week so where are we next on the debt ceiling debate? what do we expect today? kayley: at 5:30 p.m., there will

be a meeting between president biden and house speaker kevin mccarthy. that's what we are all looking forward to. those two did speak on the phone yesterday when president biden was on air force one on his way back to the u.s. it seems their tongue coming out of that phone call was more optimistic but this will be about real progress being made. we understand the two sides are really far apart in the negotiations as the different parties have been working over the weekend. the issue of spending cuts, spending caps, stricter work requirements for entitlements, permitting reform are all still on the table and need to be ironed out into an ultimate compromise is once we get a deal between speaker mccarthy and president biden, it still needs to work its way for both chambers of congress to make it back to the president's desk and him to sign off on it. we're just 10 days out from june 1 which treasury secretary janet yellen reiterated could be the

earliest possible x date. scarlet: thank you so much. coming up, meta-is facing a record fine. it faces a $1.3 billion charge from the eu but the stock is still up on the day. we are keeping our eyes on shares of pac west. they agreed to sell a 2.6 million dollar portfolio of real estate construction loans as part of its efforts to shore up liquidity. much more ahead on bloomberg tech. ♪

alex: it's time now for talking tech.

uber is placing his head of diversity on leave after complaints of insensitivity. the ceo asked him to take a leave of absence after workers complained that an employee was insensitive to people of color. turmoil in the cyber insurance market, global insurers are racing to figure out how to avoid covering government-sponsored cyber attacks. ransomware attacks increased by 87% in 22 from the your fire and the global premiums are respected to exceed $23 billion by 2025. instagram rinses some technical difficulties on sunday night intensive thousands of users reported that they cannot access the app in what was the second widespread disruption in just over two months. the problem lasted for about an hour and the app is back up and running now. scarlet: we will stick with instagram because it's parent company meta-now faces a record

$1.3 billion fine in the eu. let's bring in alex webb who covers all things tech to give us context. this is something that was not a total surprise but the amount is surprise. alex: it's a record fine for facebook but the question is whether they will end up paying it. it pertains to the so-called u.s.-eu privacy shield which was an agreement that left -- let companies transfer data to the u.s.. all of a sudden, there were concerns that u.s. intelligence agencies might have access to this data so they scrapped the shield. facebook has failed to prevent data from being shipped over to the u.s. but there is a new privacy shield with talks about it are in the offing that could be agreed-upon by the end of the year. alex: investors are not necessarily saying this is a bad

thing but perhaps that's because the company has threatened to pull out of the eu. how are you taking this reaction that the shares are up about 2% on the news even though this is a record fine. alex: often in these cases when a fine is doled out, stocks do tend to top. they know how much this is likely to cause the company if it ends up costing them anything at all. that clarity results in a price gain. meta-has oodles of money and has healthy cash flow. they reported 28 billion dollars of revenue in the first quarters a $1.3 billion while painful is not going to bankrupt the company. scarlet: and we've seen how those tech companies with free cash flow have been regarded a safe havens for investors in this turbulent time in the market. one thing i noticed in the reporting is that meta-was given time to suspend any future transfer of data.

does that mean there is a way out for the company and date fine could be whittled down? alex: no, it means if they don't do it by that date, there is the risk of further punishment. one of the interesting pieces on this come about a year ago, motherboard got hold of an internal document from facebook which likened data to an inc. that's thrown into a swimming pool. how do you gather that inc. backup? they applied it was impossible nest the challenge they face now. they have found a way of putting the ink back in the pot but it is a real challenge. i would be interested to see how it plays out. alex: meta-is taught in the cross are to be set a record fine that was applies to amazon. other other companies in the eu that should be looking at this is a warning sign? alex: i think the eu has been

very slow on gdpr, the general data protection regulations. they are clearly picking the most egregious victims first. it took five years and this is a long timeline it's a warning shot to other people to say there are plenty of other companies that have done this. facebook is one of the biggest pools of consumer data in the world so it's not surprising they went for them first. i would like to name names but i'm sure there was a long list of people who could be vulnerable to this. alex: thanks for joining us in some clarity on that situation. coming up, general motors executive vice president speaking exclusively to bloomberg about its of electric vehicles. before we go to break, we heard from the ceo of of fort about the competitive ev space as its production puts more pressure on companies like tesla. this is bloomberg. ♪ >> they've had the market to

themselves and have a big head start like what we do on trucks and now they are seeing more pressure obviously. will we compete in ev pickup trucks? we will show people that today and commercial vehicles? we don't see as much price competition because not as many vehicles choices there. ♪

scarlet: alex: the executive vice president of general motors spoke exclusively to matt miller about its of ev's including an electric chevrolet silverado. >> we have our ultium platform where we can can -- configure battery packs in different formats. depending upon the capabilities of the vehicle and the price of

the vehicle and dependent on what functionality we want from the vehicle, we configure those battery packs in a way that fits the customer needs. there is a huge degree of commonality within it but also provides us with ultimate flexibility. matt: is it able to scale for 30,000 vehicle up to a $150,000 vehicle? >> it is, that's one of the great things about it as a product. matt: that's very impressive. having said that, more people who are paying closer to the upper end. the silverado hd orders which is a work truck, 84% are forat 4 and dinali trims. they are take -- paying top dollar for these trucks? >> and is just credibility in terms of the desirability of the product portfolio.

if you look at our portfolio today, it's outstanding. if you look in terms of what customers are looking at to buy to meet their needs, they are paying a premium. it just shows the desirability of our vehicles and the fact that would got vehicles that are attractive to our customers. matt: you have a small electric vehicle in the vault that addresses that issue. how are your ev sales? what do you expect in 2023 and 2024? >> as you know, the adoption rates continue to change. you look to the data for april, i think it was the highest penetration of evin the industry's we' addresseds i will not give a definitive number but suffice to say that it's increasing all of the time and if you look to the second half of the year, if you take the cadillac for example, we started off deliberately slow with

relatively low volumes. we are building significantly. it will take an ever greater proportion of general motors sales. matt: let me ask you about the chip situation. are you caught up in terms of supply chain? can you get all the chips you need in the size you want? >> i would say work in progress. it's significantly better than where was. we are not in a position that we can declare it's totally behind us. it's much more stable and i would say it will continue to improve going forward so a better position overall. scarlet: you can watch that full interview with bloomberg on the terminal. matt miller has been busy because he also sat down with the ford ceo jim farley about that company ramping up its ev production which include striking a number of deals to buy lithium for batteries. he joins us now from the ford production plant in michigan. i thought you were going to wear a hard hat. tell us about the ford lithium

partnership that was made public today. how critical is this to meeting ford's goals? matt: it's very important. last year, ford sold in the u.s. about 62,000 electric vehicles in total. in 2026, they want to sell 2 million. they got to ramp up substantially in the most difficult part of that is scaling up battery production. in order to build the batteries, they need a lot of chemicals and minerals like lithium. they need nickel, cobalt and getting those things isn't particularly easy especially since 80% of that refining process currently sits in china. ford has made a number of deals, three on lithium. they want to get that refining done in north america and south america. in canada and mexico and chile,

that's key to keeping costs down and that's the biggest part of the vehicle. they will be building their next generation electric vehicles in tennessee as well as around the rest of north america. getting these minerals and chemicals is really important. alex: that sounds expensive. are the costs being passed along to consumers? what is the pricing strategy toward ev's? matt: it is very expensive and right now, they have a negative 100% margin and change. they are losing $3 billion this year on about $3 billion in revenue. they hope to change that hermetically so by, it was less than -- it's less than three years away, they 18% margin on their entire electric vehicle fleet.

that would be a massive change. a 10% margin on the internal combustion engine fleet. they need the big margins which they have on the big trucks on other cars they sell, they need those profits to invest into those battery electric vehicle business before it starts making its own money. scarlet: thank you so much. we had much more coming up on bloomberg technology and we will look at the ai impact on society from the economy to democracy and we will discuss that with the director of the cornell tech policy institute next. we are also keeping an eye on shares of the biggest company apple, the stock soaring about 35% of our this year, adding almost $690 billion in market value and putting apple on the brink of a historic $3 trillion market valuation. that would put it within

striking distance of his january, 22 -- of the january, 2022 high. from new york and san francisco, this is bloomberg. ♪ ahhh ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪

scarlet: welcome back. alex: and i'm in san francisco. scarlet: checking the markets come another day of muted price action when it comes to equities on the major indexes. the s&p moving up slightly at 0.1% and investors are waiting for progress on debt ceiling negotiations as well as responding to commentary from fed officials. two fed regional bank presidents are giving some hawkish commentary and talking about how a pause is not necessarily the thing that will come up next, perhaps a rate hike might be in the future.

also how inflation is still something the fed is skipping its eye on. you continue to see the big cap tech stocks piling on gains. the nasdaq 100 is already at a 13 month hi, gaining another 0.2% and apple is one of the big gainers and xlf that tracks financial stocks, the two year yield is inching up by six basis points. it's four point 32%. treasury secretary janet yellen has said the chances the u.s. can pay all of its bills by mid june when the next round of tax receipts come in are quite low. we know that president joe biden and kevin mccarthy, the speaker of the house, are scheduled to resume meeting at 5:30 p.m. today after the markets closed. a lot of wait and see to we get to that point. looking at one individual name, it's macron and the stock is in retreat, falling as much as 5% from friday's 11 month hi. today, is coming down a little

because like so many other tech stocks, micron has had a banner year so far. it had gained as much is 37% after giving an indication the industry has worked his way for most of the oversupply of chips. what happened two days that china said mike rounds products failed to pass a cybersecurity review and that led to a decision to ban micron products. other u.s. chipmakers are following in sympathy. some others gained as a result. alex: increasingly, leaders of ai companies are asking congress to establish safeguards. the openai ceo and many others are doing this but what kind of threats does ai pose to society exactly? let's bring in the director of the tech policy institute at cornell. also a fellow of the brookings institution who wrote that large language models may disrupt far more than just the economy.

they are poised to challenge democracy, too. let's bring sarah in for a deeper dive. challenges to democracy, what do you mean by that? >> it's great to be here. i've been working with language models for several years. the concern i had was if looking at 2016, there were bad actors trying to insinuate themselves in the democratic process, what happens when these language models enter and make it really easy to generate a lot of content, credible content really quickly. we wanted to map that terrain so we did in experiment and randomly sent ai generated text and human generated text to members of congress. also the state legislatures around the country we saw members of congress cannot tell the difference in anyone who has worked with this can see how plausible sounding this content

is. it's important for us to understand the threat by way of mitigating that thread. that's what we were trying to uncover with this research. alex: when i think of where misinformation lives, it's on social media. [no audio] ai companies are going to congress and say regulate us. they are wondering who will intervene. >> what we've seen with technology in regulation is that it's often very reactive at the federal level. this technology is moving so quickly. by contrast, the european union is trying to really lean into regulation. i think there is a risk that they will pass this ai action soon.

it will come into force in already be obsolete. some of the onus for openai are not possible for anyone is done certain types of pushing the boundaries. they might see openai doesn't actually permit those. this is try to understand for the public and private partnerships government and firms, what that risk is but also to try to think through and anticipate if this is too early to regulate or too late? i think we are still trying to understand what this technology is about. lurching into something of the federal level might be premature. scarlet: following about the onus on firms, firms are made up of people so any time there is a new leader in charge of they have someone else looking over regulation or the policy side, whatever they propose could change as well. how concerned are you about the

quality of people who are making these kind of decisions that these big firms. [no audio] [inaudible] [inaudible] we've been thinking about this for several years. when facebook was under fire for what they were permitting and not permitting, it's a real debate about outsourcing in the public marketplace. in europe, they are less tolerant of that but in the u.s., we are saying let's let these firms in of eight so we need to think through what guardrails we need in place to guard against the more extreme consequences of those technologies. scarlet: it's interesting you said europe is already moving ahead. because they are moving ahead,

do they become [indiscernible] today set the precedent they ar, do they the u.s. needs to follow up with? >> i don't think the u.s. has fallen in lockstep at all with europe when it comes to big and technology. one reason is if you look at where big tech resides, it's almost exclusively in the united states. these things do become kind of circular which is europe is more inclined to the into maybe because the u.s. is not lean into regulation, it has fostered an environment of innovation. consequently, there are fewer americans out front and when we look at they release it in 180 countries but not in europe. when we look at the history of big tech and legal litigation, big tech, american companies

have not always fared well in europe. i think there is some wariness of chatgpt which is banned by the italian government. other firms not only not following it but trying to be apprehensive and engaging in the european way. and think the u.s. will go in that direction not just because of what we see already because of what we see from other forms of technology in the past. alex: you talk about the u.s. being reactive when it comes to regulation. we have not seen any meaningful legs this legislation to rein in social media. what needs to happen to ai regulations to cross the line in the united states? >> everything is so reactive. when we look to the history of arms control, there were some indication we should do arms control and nuclear weapons early but really, it didn't

happen until the cuban missile crisis. unfortunately, it takes kind of a real existential crisis like that to happen before being overregulated can it take place. i would submit we have some threats on the horizon but because this technology is evolving so quickly and because i don't think these existential risks have presented themselves and they could be hypothetical. it's a little too early. frankly, we had to think about the political environment in washington which is not really conducive to doing anything meaningful on anything. there might be an agreement this of the need to be done but a disagreement on how to do it. scarlet: that seems to be the way of washington.

coming up, there is more on ai, this time from investing perspective and weekly joint by michael dempsey up next and in the meantime, keeping an eye on shares of paypal which are popping today as venmo introduces an account for teenagers from 13-17 years old for sending and receiving money and will come with a debit card and it will be issued to select customers next month. the stock is up 3%, this is bloomberg ♪

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>> there are many companies that

are going to struggle in their transition to really deliver ai solutions at scale. >> consumers are really engaging with the ai in a way that seems more real and authentic the neighbor have. >> the bigger opportunity relies on the enterprise and ai will be deployed into every facet of work. >> i think we are at a moment where there is a tremendous advantage for u.s.-based companies. >> on the application side, i think the chinese companies potentially can do really well. >> i think they need to be going faster on the regulatory front. >> we are really thinking about generative ai as a tool for good. >> i think there is an opportunity for perhaps pro-technology policymaking. scarlet: that was a compilation of what our recent spotlight guest were saying about ai investments here and around the world. we will continue the conversation with michael dempsey from compound which is a research centric investment firm focused on emerging technologies

with more than 220 $5 million in assets under management. it's good to speak with you and thank you for joining us. i want to start with the overall state of ai. from traditional market watchers perspective, ai seems to be in a bubble. a bank of america strategist says it's forming a bubble in ai and it starts with easy money and ends with rate hikes. how much do you agree with that? >> i think it -- in some ways i agree with it. there is a vacuum of conviction in areas on the investor side after a crazy past few years. things cycling in and out like crypto. unlike a lot of prior areas, they are building massive disruption and there is so much that can happen with a ton of different industries. for the first time, people can see it and feel it in a way that's tangible to their day-to-day lives.

that creates a compounding effect, the zeitgeist in the moment. [no audio] every interaction, someone is talking about ai. alex: some of this vibe throws me back to when airbnb and uber redoing massive funding rounds around consumer tech when they were private. it was driven by you but also bigger investors. is that kind of money already moving into this market and that may fuel the potential of the bubble? >> it's starting to. more and more people are trying to figure out what are the areas they can properly deploy hundreds of millions of dollars. you see that in the larger ai labs and you will see it more in application. it's starting and we see it now with the folks on a larger scale , some of the growth firms and

the hedge funds, we're trying to figure out what are the plays people should be having to get exposure to things that feel symmetric from an upside perspective and incredibly large scale which of it does work which is our job. scarlet: i'm. about your investment portfolio. how much of it centers on ai? we talk about centered on ai, are these companies that started with the goal of entering into ai or they have expanded from where they started? >> we've been investigating ai since 2014. about 60% of our portfolio falls within that area now. ai moved from a vertical specific misnomer to know being its own platform and everything from biology companies using ai to do more search and discover to core companies like runwayml

that are doing. in their own models and doing it in unique ways. we are ai native investors and how we like to invest his companies that have a unique take on product as it enabled by the cutting edge of ai are pushing that to the edge of their core category. alex: let's talk regulatory risk or the appetite for regulation. which side of that debate do you fall on? where in the u.s. in particular should the government get in and laying out the guard rails what this industry's impact could be on consumers, businesses and tech at large? >> i watch the hearing last week. jet generally everyone did an incredible job. i think they made a strong point which is on the start upside but i don't think regulation on the company such come into play yet.

there are many things to discuss about different types of trading data and what type you should train on. a lot of our companies are taking the approach to make sure they are doing things transparently. it's a little too early to be put into effect especially in the united states. i think this is some form of an existential technology we want to make sure we push the frontier back. while there are certain areas like these frontier models that could have regulation, more and more, as people get better at miniaturizing models and doing stuff locally, it will be difficult. i'm not sure in the government side, we have an understanding to properly regulate something that is so important and is moving so quickly. scarlet: our previous guest said the onus really falls on firms

themselves to propose regulation or try to set up their own guardrails. is there anyone you have encountered who you believe is a leader in thinking through some of these issues that you think people need to pay attention to? >> to be honest, it's most of the people running these large labs, whether it's people like sam. gary marcus made some good points. i think there are people trying to take ethical approaches. they make sure they work with creators. these people have day jobs that are probably the most exciting they've ever been and it's their life's work. i think it's hard and i think as more people who have been at large organizations and see regulation and other types of technology dig into ai, you will have people rise naturally. right now, most of the people are those who know how quickly

it's moving and those people rebuilding it now. scarlet: michael dempsey from compound, thank you for your perspective. that does it for me in new york and i will see you tomorrow for another edition of bloomberg technology. alex is going to wrap this up from san francisco so what do we have next? alex: we are only a few weeks away from the debut of the apple mix reality headsets and we look at the makers behind that element. this is bloomberg. ♪

alex: spacex launched for private astronauts in route to the international space station claiming -- including the first woman from saudi arabia into space. they launched sunday evening from the kennedy space center in florida. the mission operated by axiom spaces the second of for human spaceflight launches that spacex has handled for the company. acxiom has plans to build its own space station in the future. apple is just a few weeks away from debuting its mix reality headset. mark garman has been following the project incredibly closely and he joins us now for more. what do we need to know about what's coming? give us the deal on this headset. mark: we are right now two weeks

away, two weeks and five minutes away i should say from that headset launch event. this will be apple's first major new product in eight years. it's since the original apple watch was introduced and when -- and went on sale in 2015. this will be an interesting test case for apple. apple didn't necessarily create the mp3 player markets or the smartphone market for the tablet market but there was a sense those areas were about to take off and explode. mix reality is different. apple is going to have to come in here and maybe define this market. meta is there an htc is a big player and sony but it's super nascent, fewer than 10 million units going on sale on annual basis. apple will have to come in here and shake it up from the bottom. they are coming in with a device

that's a little bit experimental and it will be very expensive. it's anywhere from $2800-30 $200. it will have some pretty intense technology, over a dozen sensors on the outside where you control it with your high -- with your eyes and hands and you can use it for virtual reality and facetime interested to see how apple positions it. i'm told they will push it towards creative's if people use it for productivity. if the future of the computer they say. i think this will be exciting for consumers but there is a very big risk for the company. it's either going to be a huge flop or huge success and for apple, there is nothing in between. alex: quite the binary call. thank you for joining us. that does it for this edition of bloomberg technology. make sure to tune in tomorrow as we have an exclusive interview

with the tiktok ceo q from theatar economic forum and check out our podcast. this is bloomberg. ♪

>> welcome to "bloomberg etf iq." i am katie greifeld. >> i am in for matt miller. katie: you are here and thank god, otherwise i would be all along. let's get to the biggest stories in the more than $9 trillion global e.t.f. industry. traders are on edge amid a crucial meeting between president joe biden and house speaker kevin mccarthy surrounding the debt ceiling negotiations. what does it mean for e.t.f.'s scarlet: we will look through that story when we speak to janel jackson of vanguard who

wi