now frombach joins us morgan stanley on fixed income.e idea of your heritage of working off the desk for morgan stanley in tokyo. bring, bond person you it is decidedly international. yieldradar is a two year because it is assumed it will stay dead. will it? matt: thanks for having me on. for now the answer is yes. it will remain tagged. chairman powell made it clear in his comments earlier this week that the fed had no intention of raising rates for the foreseeable future. it is quite a long future ahead of us. the fed will keep rates on hold for the next couple of years. that would align nicely with the low level and low volatility we are seeking the two year yield today. debaten: what we have to is what happens at the longer end of the curve. either the longer end sells off her it gets firm and yields come lower. -- other people will say risk appetite will improve, yields will go higher off the back of increased treasury supply. which one is it for morgan stanley? matt: for us, it is neither. supply everybody is well aware of is not t

>> morgan: no, it's exciting. >> cooper: katie stack morgan worked as a geologist on the curiosity rover mission and is a deputy project scientist for "perseverance". if there was life on mars, how long ago was it? >> morgan: so we think it was probably at least three billio agon the surface. >> cooper: you're talking about not actual martians, but organisms. >> morgan: we're thinking microbial life, very simple, single cell organisms-- that kind of thing. >> cooper: what would that look like? >> morgan: well, they can take all kinds of forms, you know, small tubes and little circular fossils, micro-fossils. you know, we have examples of this-- from earth-- most rocks are layers, very flat, horizontal layers. but sometimes we get very interesting shapes like this, and that these microbes were responsible for the interesting shapes that we think formed that rock. >> cooper: so something like this, you wouldn't be surprised to actually see. >> morgan: we would be absolutely delighted to discover finding signs of life on mars. it's called the jezero crater. no rover has ever been there befo

joins us now from tulsa morgan the protests, i understand, have been growing throughout the day. >> reporter: yeah, kate, they certainly have and that's why we're starting to see an increased police presence here. the tulsa officers have shown up in riot gear blocking off part of the street near this entrance, several hundred protesters with black lives matter behind me but as of right now no violent clash yet. kate >> all right, morgan, thank you. >>> before president trump left for tulsa today he fired a u.s. attorney who's been investigating the commander in chief's top allies, including rudy giuliani. it's the latest clash over highly sensitive cases involving the president's inner circle justice correspondent pete williams reports. >> reporter: jeffrey -- insisting he's still the attorney general -- so the president could nominate jay clayton to take over berman shot back he would have no intention of resigning and would leave only when the senate confirmed a replacement. -- they say clayton played golf with the president a few weeks ago, said he was leaving the s.e.c. and expr

that's jp morgan. are you more on the side of morgan stanley or jp morgan?we would side more with jp morgan. we do not see the economy returning to precrisis level until early 2022. we do not see full potential until late 2022. from the very depressed level, we can see for the next few months a v-shaped recovery after we expect perhaps more of a grind back to a precrisis level. makes sense. that's two different outlooks. up, the hedge fund giant founded by ray dalio suffers heavy losses at its flagship fund. we will discuss the 15% drop in bridgewater's assets. ♪ nejra: this is "bloomberg daybreak: europe." let's look at the events we are watching. 9:00 a.m. u.k. time, the assessment as oil prices face renewed pressure. the future of trade relations between the u.s. and the eu is in focus at 11:00 a.m.. phil hogan takes part in a debate about the block's commercial policy. manus: 1:30 u.k. time we will get the latest reading of u .s. retail sales. fedlly, jerome powell, the chairman, reports to the senate at 3:30 london time. what will he say? we mentioned r

in an accident last year, cj morgan, we are deeply moved to be joined by his father, christopher morgan, and cj was something very special. christopher is a secret service agent, a tough guy, great guy. great son is looking down right now. christopher, i want you to know that we will carry cj's blessed memory in our hearts forever. thank you very much. thank you. [applause] tomorrow, america will celebrate

it's not that i wanted to sue morgan stanley i've spent almost half of my life at morgan stanley andley but i was fired. i didn't have any options and that's why i'm here. i think the bigger part of the story is that i think it's important that i talk out and tell people what happened because my story is not unique to me. my story is the same story of so many black people, particularly so many black women on wall street in corporate america, i have to be the messenger i'm hopeful what i'm doing will encourage them and give them the strength and courage quite frankly to speak out and tell their truth. >> so why now? why the timing, marilyn, in particular of filing the lawsuit. >> i didn't ask to be fired, morgan stanley picked the timing, not me. >> right at the same time if you really experienced this inequality, this racial injustice at the firm for the 26 years prior, could you have done something about it sooner, perhaps >> i'm going to jump in here, wilfred. this happens, it's very common fact pattern employees apparently know that if they raise their voice, they know the repercu

i'm not sure morgan can hear me. we'll get back to morgan in just a minute. that's nbc's morgan chesky. morgan, let's try you one more time. can you hear me? >> reporter: yeah, i can hear you now. i'm just fine. i'm going to take a few steps. we're getting some shouting over my shoulder, joshua. cal touched on one side of what we've seen tonight. that's the black lives matter protest. i've had several conversations with supporters for president trump who made in some cases drives of several hundred miles in order to be here tonight, sit inside that arena and hear what he had to say. time and time again, the one thing that rings true for all of them is everyone is acknowledging this is a very divisive time in our nation. they say it's incredibly polarizing. so for a lot of the folks who made the drive here today to hear the president, they acknowledge the fact that it was comforting to be in a shared space inside or out with people that they said that they often feel, you know, under attack when they're not, i guess, in the same area as a lot of the folks that

my colleague -- do we have morgan on the phone? is morgan with us? morgan chesky. >> i'm here. can you hear me okay? >> can -- can you hear us? yeah, i can hear you. what are you seeing? >> i can hear you. we are on the other side of this kind of a scrum that's taking place right now, as those black lives matter protestors are kind of running into the people who showed up for president trump's rally tonight, as they're all trying to leave this area. and so, we're starting to see where there was a really wide prim ster set perimeter set up before, there is a bit of face offs happening of sorts right now. i am joined by captain dale rourke who drove in from texas today. captain, you wanted to get inside the arena tonight. you weren't able to. >> we were too late. >> but tell me why is it important for you to be here? and what, about the president's message, stuck with you? >> okay. to start with, i've never voted for a president in my life. i've only voted against them. >> okay. >> that's the reason i voted for trump, because i hated hillary clinton. i worked for her in the state

morgan. senator peters. >> thank you, mr. chairman, commissioner morgan.the border restrictions at land ports of entry as you know have been extended three times and are going to remain in place until least july 21st. these restricts while very important and i understand the importance of them also have real world impacts on states like michigan. for example, hospitals in the detroit area rely on canadian doctors and especially nurses, a very large number of nurses across the border daily to work in those hospitals in detroit. so my question to you, sir, is what factors is cbp considering when determining the need for additional extensions? are there any particularly metrics or criteria before reopening? >> first of all i completely agree with what you just said. we're seeing the same thing on the northern border and southwest border as well. and even goes beyond those heroes in the medical profession coming to the united states to provide a service. their economies on the mexican side as well as the united states side that thrive and are dependent on each

i think it's important to remember that jp morgan does not act well it is down 28% on the year, the s 3%, it is telling you about back half of the year abrupt bankruptcies, that they will b ticking higher and, that's what the implied dividend cut is also telling you. i keep saying this, i'm getting whipped around with the trade in the banks but they're telling you something, telling you the same thing about the crowding in the megatap names and the speculation in the bankruptcy names, and the day trading stuff, all telling you that things are not exactly sound right now, and so i don't know, the s&p 500 down 3% on the year given this pandemic that we're in, given this economic crisis, something smells really bad here, i'm not talking about a crash, but i'm saying that the equity market is divorced from the economic reality we're facing and jp morgan and the implied dividend cut said a whole lot more about it than the maga stocks. >> every single bank, aside from maybe one to pass a fed stress test with flying colors. >> that is the default expectation. i think it's important to bring

carl >> morgan, just shy of 10 k on the nasdaq let's get to bob pisani this morning.orning, carl. happy friday, everybody. sort of a mixed open but downish two to one declining to advancing stocks look at the sectors here, it's defensive largely. retail is on the upside because gap is being pushed up, we already talked about that, but consumer staples doing all right, mccormick has had a great couple days on its earnings, a new high there tech is holding in there industrials and energy, sorry, folks, these are in decisive down trends for the last couple weeks. want to briefly mention nicki earnings mess because it illustrates the problem we're having with this earnings continue and the relative cluelessness of analysts here. nike reports a loss of 51 cents the estimate was for a line of 7 cents. the low analysts didn't get it anywhere near what the actual number was you are talking about an 80 cents range in the estimates and they still couldn't get it right. 100% of the analysts were incorrect in their numbers this illustrates a real problem that we're having for ear

she sparked morgan's interest in it, too. >> she said cosmotology was hers. that i was not allowed to have it and i did it anyway. and that's kind of, you know, what sisters do. >> oh, my gosh. tell me about it. >> after graduation from high school in 2011, heather began working at a local pub, the tilted kilt. she became a hostess. bree worked with her there. >> she'd walk them back to the table. she'd already have them laughing, having a conversation, same thing when they were leaving. >> bree shared almost everything, including her apartment. when heather confided she didn't always see eye-to-eye with her parents, that was hardly unusual for a young woman determined to make her own way. >> they love each other dearly, it's just i think they knocked heads, because heather wanted to explore. >> as for boyfriends, bree watched heather go through ups and downs. just recently, she emerged from a relationship with an older man. >> i know for a fact she still had feelings for him. you don't fall out of love as much as that as sometimes we wish we could. >> on dec

morgan the last 10 years they started off as bitter no coiner. so as we say they're very much against this idea because and then gradually over 10 years jamie diamond finally you know it took him awhile to understand the learning curve you know it's not easy to understand because jamie diamond maybe a little longer than a lot of other people but he finally i think gets it now so now he is trying to make some money in this business but isn't that i mean so your efforts in wyoming seem to a forced the mainstream banks in new york to kind of figure out that hey we don't want to lose this business now you've got an $800.00 pound gorilla in the room and jamie dimon potentially stealing some business right so isn't the urgency doesn't this make the urgency of what you're doing in wyoming that much more urgent caitlin yes it does and i'll say something with your stuff here's a little secret everyone looks down at the new yorker especially look down on why when they read it you know what can what can way only work in that small rural agricultural state d

morgan? >> absolutely, and andrea, you heard his words saying that no son should be without his father. and you can almost feel that collective emotion kind of reach out to him in that moment here. of course, going forward you heard ben crump say that deadline that so many people are going to be wactching now, andrea, and that is the memorial service tomorrow at 1:00, he said for justice to be served, those three officers need to be taken into custody prior to that time. at this point we have yet to see any action taken towards those individuals from a legal standpoint. so, andrea, we'll send it back to you. >> the attorney ben crump has just been talking again. i know he's waiting for keith ellison to make the decision. let's listen. >> murder charges against officer chauvin for having the knee in his neck and equally important is the fact those two knees in his back for not one minute, not two minutes, not three minutes, not four minutes, not five minutes, not six minutes, not seven minutes

let's go to another part of tulsa, where morgan chesky is. and, morgan, before i get to you, i want to play this sound byte from governor kevin stit of oklahoma, who did his best to defend the president's rally. take a listen. >> if you want to wear a mask, we want you to do it. if you feel safer at home, we don't want you to come to that rally. but we -- we -- if you do feel okay, we want you to come to the rally and have a good time. we're going to be very savofe. and we think it's the right time. my question back to all the folks who say you shouldn't have a rally, when is the right time? >> now, morgan, a couple of developments just in the last few hours. they've rescinded a curfew that the mayor had put in, when the president requested that rescinding. and i guess the -- the final -- the supreme court and the state decided they weren't going to intervene. so the rally's going. what kind of crowds are you seeing? >> well, chuck, those crowds are growing by the hour here near downtown tulsa. we're about two blocks away from the bok center,

. >> small towns have struggled to thrive during the pandemic, especially at morgan hill. >> seeing a downtown we've spent decades and really becoming the centerpiece of our community, seeing it as a ghost town was really hard. >> reporter: then an idea of how to bring people back and spread pride in the downtown community. these downtown streets have been revitalized, thanks in part to these banners honoring the class of 2020. > my daughter and i walked down here and looked at every single banner, and we see others down here doing the same thing. they see it as a way for people to come downtown and take a look at what's going on in morgan hill as they look at the banners. it's been just a really neat thing to bring a community together. >> reporter: 50 banners highlighting the more than 660 graduating seniors. what started as a zoom happy hour between friends in the rotary club turned into yet another way the city is honoring their students. >> it's one of the hallmarks of the community and about morgan hill is that we do support each other. especially right now, it takes all of us t

thank you so much, with morgan stanley this money. mr.son dropping by bloomberg later this morning for a new york re-think as well. the data this morning is extraordinary, no question about it. the virus has a major effect on markets, and you can see it dampening in the yield curve. for a cup of coffee, two-year states, the united .1798. jason kelly has an exceptionally interesting interview with mr. james and his colleague, everett carter. we will play some of those -- maverick carter. we will play some of those highlights this morning. this is bloomberg. ♪ hi, everyone, this is "bloomberg surveillance." black lives matter has become the biggest social movement this year with thousands marching in cities across the u.s. and the world demanding reform. in star lebron james has been a vocal supporter of the event and shares his thoughts an exclusive interview with jason kelly. to say i wasnt anticipating it, i want to say we have always and in this position. we have always had to plan for this moment. it is something i have always had a pa

because if i had the strength to do it, i would be there myself. >> morgan joins us from atlanta morgan, what do we know about whether or not the district attorney will file charges against the officer? >> reporter: yeah, kate he did speak out to say he does anticipate filing either manslaughter or murder charges. he did not say exactly when but saying to expect them sometime within the next week. kate. >> morgan chesky in atlanta for us. >>> the video showing rayshard brooks deadly encounter with police are sparking a lot of discussion about officer protocols. we asked law enforcement experts to weigh in on what happened kathy park has that. a warning, some of the images are disturbing. >> reporter: tonight at least six different angles on the night of rayshard brooks shooting shows how this encounter with atlanta police officers at the wendy's parking lot turned deadly. nbc news spoke with several law enforcement experts who shared their perspectives on critical moments captured on camera it all started when two officers responded to the scene. >> somebody called 911 because you were

. >> reporter: i'm morgan chesky in tulsa, oklahoma where a spike in covid-19 cases comes as crowds line up early for president trump's first rally in months. >> i wanted to come to one all my life. i'm 68 years old and here i am. >> reporter: rosie matlock will be camping in her chair until saturday, one of the 20,000 supporters expected to pack bok arena. >> i'm as concerned about the virus as i am about every yearly flu. >> reporter: but new numbers show 100% spike in tulsa cases in just the past week. a staff commissioner karen keith says it's about to get worse if you have president trump in front of you right now, what do you tell him >> i beg him as our national leader to call this off. >> reporter: the president's campaign promising temperature checks and masks but no requirement just yet to actually wear them. >> taking care of them and we know what the high risk means. largely it means older people, especially older people, senior citizens. >> i am concerned. i really am. but, i really want to see this man speak >> reporter: and tonight due to that spike in cases the bok center

marilyn booker spent a quarter of a century at morgan stanley. she led their diversity program.trongly disputes that black lives don't matter at the firm. jericka duncan spoke with marilyn booker. she has a lot to say. good morning to you. >> reporter: good morning. marilyn booker used to work right here at the headquarters and she said listen she was an advocate for black employees. in fact, in recent years she had been pushing a program that would allow forced a equate training and support for black financial managers so that they could advance within the company. but booker said she believed those efforts among other things caused morgan stanley to eliminate her position. bker re she learned her 26 year career at morgan stanley was over. >> the human resource person told me my job of eliminated and the way they did it, 26 years, loyal employee. stanley blue and they fired me like i was on a temp. >> reporter: amid a round of layoffs that included 1500 employees. more than 100 of which were manage directors like booker. for 16 years booker served as the global head of diversit

the last five days great time to discuss that with macy's i mentioned as well morgan stanley almost positive year to date only down one percent check in with gorman >> i think macy's is important because they said they will make it through this year and next with business at stand still an the company reporting $1 billion operating loss in the last quarter their troubles are far from over but clearly they have the liquidity. thank you to jay powell and everyone else for raising money. >> fast money starts now i'm melissa lee. today we have trader line up -- coming up on fast. boeing soaring sky high. this monster move could be telling the real story about where the market is headed that in moments. plus zooming higher. big news out of china, shares from tesla sent into over drive. and general mills, pitching the next best idea, why they say this gaming stock is a total home run we start off with a record run on the nasdaq with a new all-time high since february and do you on the best winning streak since september this coming as states reopen if some form from the coronavirus shut downs and

we will continue the conversation with morgan stanley.l catch up with mike wilson , the cheap equity strategist. he has been right over the couple of months. -- the chief equity strategist. i wonder how the last couple of months has tested the optimism of the equity bull over the last couple of days. tom: a lot of distractions with these stories. i am watching the two year yield dipping under 0.18%, that gets my attention. right now we digress to one of the great train wrecks of the last couple of years. i'm not talking about wirecard in germany. we are all familiar with wework. i made a joke of it. yet, it is a crushing need within american business. that is office space quickly. industrious does that. james hodari joins us. he is trying to move forward and pick up the debris of the industry after wework. wework,of talking about give one best practice that wework did that you can carry forward. what is a thing wework got right you can carry forward? gots: the thing wework right is company should be buying their employees workplace experi

look at that morgan, back to you. >> sue, thank you.d former spotify exec troy carter. "squawk alley" returns in two. so i'm gonna hold on promoting you this quarter. cool? drop the taco. get in the car. does this sentra feel like a compromise to you? wait, what...? the handling is good, right? no compromise there. nope! watch this... umm... b-brie...brie brie! rear automatic braking. so if this nissan sentra isn't gonna compromise, why should you? you're right! atta girl. the all-new nissan sentra. with more standard safety features than any other car in its class. with more standard well as to how a have reverse mortgage works. people think that the bank takes your home, but that is not true. that's absolutely 100% wrong. the home is ours. we can sell it if we want to at any time. i like the flexibility of not having a payment, but i can make the payment if i want to. you're responsible for keeping up your property taxes and you're responsible for paying your insurance on the property. for us, it was a security blanket. the value of o

i love jp morgan i love jamie diamond it doesn't act well. disconnect between the broader market and the banks, the money center banks we'll get a lot more clarity on thursday when we see the stress test i don't believe jp morgan will cut their dividends. >> tim, you're looking at transport, the old dow theory. >> i think it's important. you think about the transport basically double topped back in 2018 a lot of this was trade war. that's when we saw truly the peak of the economy and where we saw economic growth that was becoming very well rounded and starting to thrust into high gear and then we lost it i want to see transports come back dan's right to bring up the banks. i think the transports are more important when talking about the breadth of the economy transports have still lagged we need to see transports catch up. >>> coming up, the surprising stock that has zoomed past zoom to claim the title of work from home winner. later the sobering new numbers on how much booze we are buying and drinking on lockdown ♪ ♪ ♪ ♪ can i find an invest

john normand of jp morgan stays with us.rting monday, we will bring you the biggest names across finance, investing. including steve schwarzman. ubs asset management -- that is monday, one a clock p.m. in new york, 6:00 p.m. in london. -- 1:00 p.m. in new york, 6:00 p.m. in london. also david rubenstein and bill ackman. this is bloomberg. ♪ >> we have the potential of making 2021. we are celebrating our bicentennial. it could be a bumper year for greece. so far, if i look at market reaction, people feel comfortable with greece in the sense that we spend enough money to soften the blow but not enough to derail public finances. that was the greek prime minister. greece, one of the lowest infection rates in the world, keeping the deaths below 200. they are sticking to their reform agenda. europe,en you look at is there too much hope on this plan the commission put through? this is money states desperately need. john: there may be too much hope this will deliver a higher better rate of growth in the region. don't think there is

dick bovay said morgan stanley is a no-brainer. he has come out in the last month and talked almost every single bank stock higher he has upgraded them today it's morgan stanley. while at the same time american express gets cut to a sell at ubs. take me through that trade >> sure. so american express has a disproportionate amount of their revenue that comes from the areas i've described, travel and leisure and business spending which we see less of in terms of the bank stocks, all extremely well managed companies, all high quality companies that have been through much worse times however, with the yield curve where it is, with rates so low, while they can make up for some of that with efficiencies, i just don't think that's where i'm going to get my highest return it's a relative game that you play when you're in stocks i own visa and added to visa recently as i mentioned last week it's a quasi financial, but we're going more and more cashless and that's been accelerated. can the banks go up? i expect them to morgan stanley, a well

craig. >> morgan chesky outside the bok arena. morgan radford also in oklahoma. this is going to be in a city with a bloody past when it comes to race. what are the folks in greenwood saying about the timing of president trump's visit? >> reporter: the timing is certainly controversial here, craig. we're standing here ahead of their juneteenth celebration. it's special here because it comes on the heels of honoring what's called the greenwood mass care. this is a historically black district. back in 1921 a group of white rioters and looters came and looted this area, killed 300 black people, wounded 800 black people and left thousands homeless. that was a big hit. this was the center of black life. they called it black wall street. you had more than 30 blocks where i'm standing filled with movie theaters and banks and grocery stores. this is where the community came to congregate. what's fascinating is the effects of those two bloody days still affect the city today. take a listen to what one black business owner right here in greenwood told me. >> we're not real

morgan, what's going on? what are you able to hear that we may not have been able to pick up so clearly? morgan chesky, can you hear me? hmm. i guess he's not able to hear me. although i thought i saw the back of morgan's head taking a photo there. let's take a listen, guys. >> i've asked you to leave. we're going to put handcuffs on you and pick you up gently. i don't want to hurt you at all. last thing i want to do is hurt you. okay? >> no. >> yeah, i'm here. >> hey, morgan, i understand you're now hooked up with us. tell me what just transpired. has he said he will have to put cuffs on her? what did we just miss there? i was trying to strain as i listened. >> yeah, alex. if you can hear me right now, we are just a few feet away from this. and a police officer has told this woman if she won't comply they'll remove her for trespassing. that's what they're doing right now. she said they're removing her from this scene, and we're right behind tuls camera police here. we'll keep moving along. this woman told po

we'll see how jp morgan in particular, what they're seeing in terms of needing to increase provision. i would be surprised it was a meaningful increase. i think all those things together, a little zero, a big run up and negative comments from wells fargo made for a cocktail for a pretty bad down day for the banks. >> what do we make of the big cap techs, the ones that are gaining even more that are increasing the chasm between the haves and have nots in the market at this point with what powell said today, does it make that particular rally even stronger in your view >> it seems pretty impervious right now. they've become maybe for good reason similar to the safety trade. that might not make sense but clearly that's what's going on again, i'm going to get atted for this apple, you see the move in apple. apple's at an all-time high. it's a wonderful company but it's clearly not doing it on revenue growth it's doing it on multiple expansion. some of which is justified we've talked about that ad nauseam as well. it tells me to look somewhere else so as well as that did i look at the iwm

great to have you with us. >> thanks, morgan. it's great to be here. >> i want to get your response to that comment we just heard from the s.e.c. chairman >> yeah. i think first off, it's important to recognize taking a step back that i have tremendous respect for the s.e.c. we have a great working relationship and we workvery productively o so many different issues around capital formation, around trading in the markets, chairman clayton and his team, director redfern have been really focal advocates of great support system through all the volatility that we have seen through march. we worked very, very well together to make sure that our markets continue to deliver and operate the way investors expect them to through any kind of market conditions like we've seen that said, there are certain areas where we disagreed on policy decisions that the s.e.c. was making and how we were going to experiment with some of the market models. retail investors have it better than they had it before, but it's true there's a lot of complexity an

morgan chesky made his way to tulsa for us morgan, good morning >> reporter: savannah, good morning to you 48 hours ahead of the president's arrival, and you can see people already outside what's expected to be a packed arena. on wednesday, a state court shot down a lawsuit that would have mandated people wear masks and social distance inside now, the group is appealing to the state supreme court. in the meantime, the white house says anyone who comes here saturday facing the same threat as they would going to a baseball game. outside tulsa's bok arena, a growing line of supporters ahead of president trump's return to the campaign trail this different states >> reporter: the president, saturday >> this will be 36 rallies in 19 different states >> reporter: the president, overnight, saying he's looking forward to addressing a big crowd. >> there's just a hunger for the rallies. i enjoy doing them. >> reporter: while seeming to downplay the threat of coronavirus. >> it's fading away. it's going to fade away. but having a vaccine would be really nice. that's going to happen >> reporter: t

instead the jp morgan got paid a fee on it. that was because of the fed. the fed has done an enormous favor to the banks that they asked them to maybe go slow on their capital plan for the rest of the year, that's very reasonable the fed has been their friend. >> let's turn from the banks to biotech. your next guest says it is time to double down on this sector. let's go off the charts. chris, what are you looking at >> i brought along a couple charts what's so interesting about this biotech group in the context of talking about the banks being a repressed corner of the market, this is an unrepressed corner of the market the way it acts and leads is suggestive of that let's go through a couple names and a couple charts, talk about the year to date so far with ibb. down 25% in february and march followed by a 50% move up off the low. the question is, is this too far too fast, is this something that con kol dsolidates here i don't think. this is a chart that is really just getting ready to go this is the longer term chart of the ibb. let's just keep in mind

>> morgan, that's right. a number of senior facebook executives publicly sharing their outrage at mark zuckerberg's decision not to flag or put a warning label on president trump's posts that could incite violence. the head of product design for facebook's news feed tweeting, quote, mark is wrong and i will endeavor in the loudest possible way to change his mind going on i focused on organizing 50 plus like minded folks into something that looks like change jason signatu jas jason sturman writing -- >> director of project management writing -- i'm not proud of how we're showing up. the majority of coworkerers feel the same way we are making our voice heard. facebook responding to this moments ago telling us, quote, we recognize the pain of many of our people are feeling right now, especially our black community. we encourage employees to speak openly when they disagree with leadership as we face additional difficult decisions around content ahead we will continue seeking their feedback last night zuckerberg p

morgan stanley, the tip of this beer. trade.o be a high carry 74 by 2021.talking about numbers and there is only one number stacked up, isn't there? nejra: yes. we are talking about cases of covid-19 in the united states, approaching 2.3 million after a daily increase of 1.2% on sunday. possible signs of a resurgence sun belt states. florida infection counts dropped more. presidentanus: trump's campaign rally. trumpian his campaign manager had boasted that half a million -- trump and his campaign manager had boasted that half a million people requested tickets and that they would not be an empty seat. in the end, there were just over 6000 people in the building according to the fire department. donald you are warriors. trump: you are warriors. we had some very bad people outside, doing some bad things. i stand before you today to declare that the silent majority a stronger than ever before. been: derek wallbank has tracking the story. away fromd we take that rally? they lack of people inside or that there were bad people outside? do we know the truth? peopl

i put on a jp morgan call spread, could be an option action kind of thing for july earnings because i was a cheap way to play not just jp morgan of course but the market bouncing back i was looking for things to buy. i didn't quite get there yet, but i don't view anything as radically different. i think we could be one vaccine release away from the market turning around >> one vaccine headline away. >> that's what i meant, you are correct. or one headline about a treatment. or what i think we might also see is the people getting hs%gbvrñ thinkv are onv average significantly yw@er and i thinkrztherefore we'll hp scary even if we do÷9 have mors infections. >> you're shakingvóyour head. scary until there's a vaccine available to the masses. when you think about what's going on right now with this virus is that it's spreading in e huge Éers prior and it'sxv spreading in areasyy where peop wearing masks.i when you  think about the fact thatu stores and a lot oflñ re stuff wasgnopen in manyj of t partsb2in the south and southwt where placesw in the northeast were shut now t

morgan radford is there. morgan, i know people have been camping out. they have been there for days and braved the weather. what about the expectations for tonight's event? what are they? >> reporter: the expectation among the crowd are high. this is the president's first rally in nearly three months. we are at the front of the line. these are among the first people to go inside the bok center in tulsa. it holds about 19,000 people. that is why these people are here. they have been camping out for days. there is an overflow area for people waiting outside. that is why police have closed down a lot of the streets surrounding the area. initially there was set to be a curfew. the president tweeted he spoke personally with the mayor of actual so who later reversed the decision to have a curfew between 10:00 p.m. and 6:00 a.m. the people p here are excited to see the president. the people said the inequality exists and it needs more attention than the president. take a listen to what one black business owner told me. >> he is not standing up to support black

morgan promises the president will try again d just are starting paperwork. morgan says congress should pass a long-term solution that does not encourage illegal immigration in 2012 when the dhaka program started this country created a loophole but democrats on capitol hill disagree, they say the administration should instead focus his energy on passing dhaka legislation already on the table the promise and dream act which gives dhaka recipients more permanent protection passed the house last year and remains stalled in the senate this is the path way to a solution a sequel and a permanent solution for this class of young people illinois democratic congressman hayes whose julie garcia says the administration should in its obsession with the border, wall wall is a waste or it is not a solution and work with democrats in the senate to pass the immigration bill in washington raquel martin. >>san francisco is reopening coming up in a live report, we'll tell you what a surprise announcement from mayor london >>a 29 right now and we're checking out the weather we a

mark morgan: he's absolutely right 100 percent .agency in this country, everything he just said, i absolutely agree with. it is absurd and dangerous to talk about defunding the police. this is a time where we actually need more agents and more officers on the streets . to add to the statistics that he just quoted, and 2018, was over about 12000 motor investigation manslaughter investigations. 25000 rape investigations and 1.5 million assault investigations that have happened in this country. now is not the time to defund us, there is a time to do exactly with the president's executive orders is wanting to do. and best more. incentivize the use of best practices to better equip and better trying the officers and agents that are out there protecting the country. liz: if you defund the place, you slam immigrant communities who, families reeling from the crimes at the hands of people who come to this country illegally. some of them say democrats are ignoring them and fears that you defund the police, you have more families saying this.

,e will speak to nicky morgan next.rg. ♪ anna: welcome back to "bloomberg markets: european open." european equity markets on the back foot, down 0.4%. the cac down 0.6%. , goingflat on the dax its own way. u.s. futures pointing to something a little better, slightly negative or flat. in terms of the sector breakdown, or dominantly in the red. are thegas, real estate sectors losing most ground. it to the upside, chemicals and technology making modest gains. let's get to the rate decision we are getting from the swiss national bank, keeping its basis points. -75 they maintain the positive rate at the same amount. they talk about inflation expectations, and see it at 0.4% in the first quarter. they are talking about the importance of loans being crucial for rapid economic recovery, and the swiss franc is highly valued. swissl be speaking to the national bank president after 10:00 a.m. london time. upnomic activity has picked somewhat. matt: it is interesting, they see inflation this year -- well, deflation, 0.7% and 0.2%

happy morgan up 8.5. disney is up 6%. up 28% these are price moves that you have to keep an eye on let's get to the judge in the half >>> welcome to the half. our top story, are there any values left for your money we'll debate that and how long this incredible run can last with our investment committee. michael farr is back with us good to have everybody with us today. take you to the wall as we always do to find out where we stand as we begin our conversation today mostly mixed day it is that run that we have had, josh brown, momentum

morgan stanley's v-shaped? or are you worried about lockdown take two in china?ext guest points out that the as a dollar -- the aussie dollar after the last two recessions. oil is coming off, down 8% last week. it continues because we are worried about a double lockdown. abe this morning says that you can't spend, spend, spend without some repercussions. we will talk about the dollar in a moment. whether david roach is right or the bloomster is right. fed chairman jerome powell is expected to bring a cautionary message to capitol hill. his are boxed to lawmakers will likely echo the downbeat assessment given last week when policymakers signaled rates would probably stay near zero through to 2022. his performance has drawn criticism from the white house with larry kudlow suggesting it was overly negative. david bloom is with us. kudlow took a swipe. little you say, gave a bit of a reality check. powellt to you that created a floor on this push down of the dollar. what does he have to do this dollarr you to push the narrative? i am not sure there is anything he can