song just behind the border as che tech was the first company to set up shop there back in two thousand and four industrial park is unusual as jay tech c o u chung tells me it's run jointly by the two koreas the biggest advantage of the collaboration has been having access to north korean workers. they were passionate. intelligent. he's made them stand out above others

goes as far as ai goes are many of those high tech sectors you know could this also backfire on trump because it doesn't want the u.s. at some stage need china as a good partner. so i would i would break this issue down into two parts so one is the tariff issue and that's hugely problematic and that is and slapping on of tariffs on the e.u. china etc is not going to put america first that's one issue but there is a very important second issue which is china is getting very far ahead in this important very. significant area high tech right so that some of the things you mention it i robotics and so forth. and here in the u.s. is very concerned about retaining its competitive edge but b. there's also the issue of making sure the china minute does not violate intellectual property rights china the chinese whenever they have investment coming into their country have very high tech not technology transfer requirements for example and they have local content sourcing requirements so this is what trump sees as unfair and he wants to stop the chinese from getting out an unfair advantage as he

as well. i want tech companies coming to london.ch companies to help me to provide services cheaper. le as the 21st century solution. >> do you think weing companies going with the ethics you want to see in london. you are focused on diversity as well as technology. >> what is remarkable, they are positive and progressive. if you are engaged with them, they will see their competitor. and i have gidged over the last o. years with the c.e.o. they want to pay minimum wage. and when it comes to the pipeline, they go into deprived communities to make sure they are involved. and young people want to be effective. the reason i'm excited, they are going to help make sure that parts of our city that haven't enjoyed the fruits of growth will enjoy the fruits of growth. with the right training, mentoring and support. i want people to learn. google does great stuff. i want to see compasses that are environmentally friendly. all of my conversations in tech starters, they have the right values and love london. i was looking at research in relatio

employees are broadly concerned about the ethics of what we as google employees work on as what we as tech work on. therefore, i am on many others are working together with microsoft employs to help them -- employees to help them as best as you can with ensuring that a to have a voice in what their employer does. emily: engineer at google. thank you. coming up, blockchain enthusiast have been boasting all the various solutions for the technology and now he why and microsoft are paring up to use this in the gaming industry. and tune in for a new episode of european conversations with robert smith airing wednesday at 9 p.m. in new york. this is bloomberg. ♪ emily: while the price of declines have taken a tumble, there is a lot of interest in watching. global spending is expected to reach $2.1 billion. more than double the $945 million spent in 2017 hurt let's -- in 2017. let's get to caroline hyde. >> thank you very much indeed. let's talk to paul rhody. he is in seattle. talk to us. the company announcing a partnership with michael soft -- with microsoft launching a blockchain solution, thi

and four industrial park is unusual as tech c o u chunk tells me it's run jointly by the two koreas the biggest advantage of the collaboration has been having access to north korean workers. they were passionate. and talented. those qualities made them stand out above other labels other regions those were the reasons why companies in case was so happy to work with them. and they were cheap north koreans only earned one tenth of what their counterparts in south korea made on par with other cheap labor countries in the region but case song is only sixty kilometers from seoul and everyone there speaks korean for local businesses a major plus but then in two thousand and sixteen it was all over the border was closed after north korea conducted nuclear and ballistic missile tests since then the only way of accessing the country from the south has been through binoculars. that bridge back there is part of the railway line that leads to the k. song industrial complex at the moment of course back election is closed but that could easily change and it could in fact become part of a much wide

this, as tech industry is grappling with a diversity problem.e tech industry does not do a better job including people of all backgrounds, what are the consequences? >> the tech industry has to be a place where people of any background or any demographic, or whatever origin, can thrive. there have been big missteps on that front. they have attracted prominent headlines. >> people are paying a lot of attention to the silicon valley and how it is we do things and it has had a real ripple effect around the world. for myself and john, we try to start at home and if we can't build a company into a culture and an organization that we can be proud of, and that we can really feel good about, and where people of any background can really thrive, then we have not achieved anything of value. emily: stripe, you guys have interesting things are you have an open floor plan. people changed desks every so often. gender-neutral bathrooms. you have an interesting female -- email policy where everyone can read everyone else's emails. as i understand it. >> people

tech stocks. you've got people just buying the momentum trade here as far as tech is concerned.st had a conversation earlier with morgan stanley saying they are increasing their overweight in utilities and you .ee that how vulnerable does technology valuation? t of the >> it's a really tricky call. what we have observed is that the growth versus value trade in tech has been the strongest in favor of growth in any half year in the last 15 years, so we've had growth tech outperform, so the most expensive tech stocks outperform the least expensive tech stocks by 30,000,000% year had -- the we've whole market has moved towards growth, but it has been a really, really pronounced in the tech sector. it's difficult to say. we advocate kind of a balanced approach of both inexpensive and expensive technology stocks historically, stocks at the end of the spectrum have done well, stocks with middling valuations actually have not done well historically in technology, so we are still advocating a balanced barbell. joe: it seems like one of the things we've seen lately, maybe in the last mont

also creeping into the zone of looking at mobile applications and digital advertising markets such as tech platforms of google and facebook. so off he accepted the narrow definition which makes it more pronounced, he was indicating he was thinking about the change in the industry much broader. the bigger the markets, the more inconsequential a merger becomes. >> it's important to know much of that i agree with including the description of the market description in the context of the larger debate and antitrust in this country over how frequent these challenges should be. we have not had a fully litigated merger challenge in some time. in terms of the benefits of vertical mergers, this debate in case is not taking place only in the context of that policy debate. the government and real litigation conceded hundreds of millions of dollars of consumer benefits arising from the merger. so what judges engaging in, the law professor me with love the landscape decision so i could assign it to my students. the real decision litigated the doj conceded hundreds of millions of dollars and judge lyons

large in the overall market as tech is now. think about financials in 2007, energy in 2014, technology in 1999 traditionally when it gets this big, that's not the place to be. i'm not saying it can't continue to go higher but i'm saying this is a time to the question of something's always rotating or the comment something's always rotating that you want to look at the things that have been beaten up and at some point should start to perform. unless the world goes to hell in a hand basket, they should start to perform as soon as the issue is resolved. >> you talk about tech as if it's one sector. i could make the argument that apple is really a consumer name. you know or retail. it's not technology. >> luxury retail it could be a lot of things. i think that's actually a very big point that just bauss somebody decided that certain companies are tech, look targets a consumer discretionary. walmart's a consumer staple. why? don't you buy the same thing in both so let's calm down >> to industrials. >> right so let's calm down with o

chip sector is considered to be early tell on what is next, components are used in everything we as. techaybe one of the worst sectors on the day. certainly yesterday. 2 days in a row, consumer staples, 9/10 of 1% over the last two days. the best since april, a reversal of technology. beverage companies in play, investors liking bullish comments out of monster beverage's recent annual meetings. shery: 9% would make headlines. [laughter] gop stand up. republicans struggled to find common ground over dreamers. jeff denham of california joining us next. this is bloomberg. ♪ ♪ kevin: this is "bloomberg markets: balance of power," i'm kevin cirilli in for david westin. shery: i'm shery ahn in new york. let's get the first word news. reporter: president trump -- on claims he can lawfully pardon himself for potential crimes. it is the second time this week the president has asserted the right to do so, in the event that he is charged. >> i'm not above the law, i never want anybody to be above the law. the pardons are a positive thing for president. i think you see the way i'm using them. i have

also creeping into the zone of looking at mobile applications, and digital advertising markets, such as tech platforms, google and facebook. while he accepted a more narrow definition, which actually makes the effect of the merger more pronounced, he was indicating that he was thinking about change in the industry in a much broader definition of the market. the bigger the market, the more inconsequential a merger becomes. right? joshua: i think it's really important to note -- much of that i agree with, including diana's description of the market definition discussion, nd the context of this larger debate, and antitrust in this country over how frequent vertical merger challenges should be. we haven't had a fully litigated vertical merger challenge in some time. in terms of the benefits of vertical mergers, this debate, this case is not taking place only in the context of that academic or policy debate. the government and relitigation in front of judge leon conceded millions, hundreds of millions of dollars of consumer benefits arising from the merger. and so, what judge leon is engaging in,

they are going to spend money on tech as we discussed before, i think that was jon that asked the questionery company will become a tech company all these companies are looking to how to reinvent themselves. cloud-enabled and intelligence all the way at the edge. i think it's a good time for tech start-ups and many of the enterprise companies are looking to tech start-ups to help bring them innovation i'm cautiously optimistic for the second half of the year. assuming we don't get into trade issues or anything like that, i think we'll have positive start-ups. >> you told a room that 40% of the businesses in this room will not exist in a meaningful way in ten years. if i'm not making you sweat, i should be, you said. is that vision intact a few years later? >> i think it's more than intact it's happening at a tremendous speed. you all see the disruption as well when i said that about four or five years ago, people said, john, you're usually pretty good on the trends but this time i'm not so sure i agree. it actually may be too conservative the fortune 100 knows that what gets a company or c

stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerging markets. >> the fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant. sydney. from we are just past 8:00 a.m. here. just past 6:00 p.m. here new york. we'll be looking at how the asked -- action -- small pullback in bonds. it is not so much about what happened but more about what did not happen. we did not get any major tweak or statement from -- tweet or statement from president trump on trade. gave the stock market a little relief. of course the nasdaq held by the rebound in tech stocks. everyone watching bank stocks after several days of declines. worsening developments in this trade tiff. not a terrible open set up for friday. just getting underway. also a little more dovish and tone. kiwi stocks up a little. performers.etter the bloomberg dollar index falling from

song just behind the border as che tech was the first company to set up shop there back in two thousand and four industrial park is unusual as to take c.e.o. you tells me it's run jointly by the two koreas the biggest advantage of the collaboration has been having access to north korean workers. it was certainly they were passionate. intelligent. those qualities that made them stand out above other labels in other regions those were the reasons why all the companies in case we're so happy to work with them. and they were cheap north koreans only earned one tenth of what their counterparts in south korea made on par with other cheap labor countries in the region but song is only sixty kilometers from seoul and everyone there speaks korean for local businesses a major plus but then in two thousand and sixteen it was all over the border was closed after north korea conducted nuclear and ballistic missile tests since then the only way of accessing the country from the south has been through binoculars. that bridge back there is part of the railway line that leads to the k. song industrial c

it's significant because china is getting ahead now is it getting ahead of a lot of countries as far as tech goes as far as ai goes are many of those high tech sectors you know could this also backfire on drama because it doesn't want the us at some stage need china is a good partner. so i would i would break this issue down into two parts so one is the tariff issue and that's hugely problematic and that is and slapping on of tariffs on the e.u. china etc is not going to put america first that's one issue but there is a very important second issue which is china is getting very far ahead in this important very. significant area high tech right so that some of the things you mention ai robotics and so forth. and here in the u.s. is very concerned about retaining its competitive edge but b. there's also the issue of making sure that china minute does not violate intellectual property rights china the chinese whenever they have investment coming into their country have very high tech not technology transfer requirements for example and they have local content sourcing requirements so this is wh

taipei, not as tech heavy. 0.4% higher in taiwan. futures looking like we are ,oing to continue that recovery s&p 500 rebounding from that selloff. are watching how this bear market in shanghai is going to open up later on. there is going to be apprehension with a-shares in bear market territory in five months. the small batches looking remarkably like 2015. fundamentals in china are very bad. even bargain hunters looking at these cheap valuations -- although the shanghai benchmark has been oversold over the next -- the last six days. check out the msci china index, down 14% from its 2018 high. that is likely not going to ease concern the currency is headed for its longest losing streak in four years. that.d: thanks for the yuan headed for its longest losing streak in four years, not looking good for corporates as well. things to calm nerves, like cut the reserve rate, publish editorials in financial newspapers, you could argue have had little effect. richard frost is with me with a look at homegrown reasons for concern. >> there is

it is a development going up by the tech museum. asould you see, it is crowded near headquarters and close to google proposed campus. and the developer will focus on office now and retail. >> so you like to go see a movie after movie. well if so, good news for you. amc theaters is tearing a page from the movie pass script, starting today they're offering a new flat rate option for film lovers. amc a new a-list pass offers up to three movies per week for $20 a month. the movie pass allows unlimited films for $10 less but it does not include 3-d and imax showings. >>> and the dry here in the bay area is a bad omen for fire season, one berkeley scientists message this morning. she's reitiering what we know. and this video is from the pawnee fire in lake county. one of many fires cal fire is fighting. here is a map of all of the current wildfires that they are up against right now. i could imagine the hot weather coming our way isn't going to help with the fears people have. >> right. and over the weekend, we talked about the wildfire dang

dow jones up 180 points and the nasdaq is up over one half a percent and poised to hit a new high as tech shops jump. >>> we first reported on postal working latis last month. he was delivering mail and spotted two men carrying a large suitcase and a bag out of a house. he thought it was suspicious and realized the home had been broken into and he called police and officers later arrested the suspect. they are recognizing him during the city council meeting tonight. >>> oakland airport will hold a ribbon cutting ceremony for cpr kiosks with a touch screen where you can practing on a mannequin. -- practice on a mannequin. >>> the game fort knight is coming to android. it will be available this summer. according to a developer blog the game will have new features including a customizable hub and a voice chat function for mobile users. epic games has not set a release date. the version can be coming to nin tendo switch. >>> one note for the baseball fans, the a's are picking ninth in the draft and the giants are picking second, the last time the giants picked in the number two spot they draf

ask a business advisor how to get on demand tech support for as little as $15 a month.e case paper for only $29.99 at office depot office max. >>> this is cnn breaking news. >>> hello, everyone. i'm kate bolduan. we begin with breaking news out of the white house and president trump's new favorite thing. one of the president's power, the power of the pardon. right now two sourc

much as we talk about tech, check it out. apple, amazon, microsoft, netflix, all in record territory. everybody is now talking about will apple be the trillion dollar company. so right now, at 193.31, it is about 50 million away from that. we'll watch for that as well. then here is look at twitter. twitter is going into the s&p 500 on thursday morning. the stock jumped 5.25%. portfolio managers have to mimic exactly what goes into the s&p 500. they're buying it up. this will replace monsanto which has 53 billion-dollar deal with bayer. last but not least a quick look at tesla which is issuing refunds for model 3s. still pumping them out. a big shareholder meeting at well. here is look down five 1/2 dollars. david: still under 300. nicole, thank you very much. melissa. melissa: nasdaq climbing to a new record close as tech companies are in the spotlight over privacy concerns. let's bring in today's market panel. gary kaltbaum, kaltbaum capital management. fox news contributor. lenore hawkins from themeitica research. gary what

stocks jumped the most in three weeks as tech rebounds, but it is another miserable day for emerginghe fed forces six u.s. banks to scale back shareholder payout, while at deutsche bank unit fails the test entirely. continues,uan slide authorities intervening at a key psychological level. >> and president trump praises foxconn as he tours the new wisconsin point. -- plant.

companies see this as an open window where they have to get in and they will all rebrand themselves as tech. mr. wallace: you guys should start a tech company, the three of you. to pick assets and put them in your portfolio for the long-term. right now, this is the trade and it's a great trade. people are making a lot money. our high schoolers are 50% above with a should be right now. our low scores are three x what they should be. if you have these bad names in your portfolio, you are loving it for right now, but you had better get out in time. scarlet: our company is going to e wdym for "what'd you miss?" mr. wallace: i like it. scarlet: this is bloomberg. ♪ arlet: "what'd you miss?" fueling the fight between active and passive managers. ceo of texase is at the summit onrs. the future of active management. when you look at the debate between passive and active, what is new on this front? how has evolved? >> when i joined the debate couple of years ago, the debate was how far it can go, and it was all about active value. today, the debate is much more nuanced in the public narrative becaus

tech is a place one level, to hide. finally on the growth versus value point y think value is going to do better when stocks are actually cheap as opposed to just relatively cheap. if you want a truly cheap stock right now, it is ugly stuff that looks like it's being disrupted and killed by tech it's not a modestly valued industrial at 15 or 16 times earnings that maybe is going to make their numbers this year as good as that might do, i think it's not pure value. that's why as a strategy it's l. ve josh's point these are just companies 100 years go, somebody was saying do you have to own electricity companies? and at some point, we realized every company was an electricity company. >> didn't you already get the idea of tech's importance in where the market stands. money was out of tech and going into energy. that was fine. you can make money in thatspace treaded water. it's beetreading wn that period it wasn't enough to lift the tide >> we all said it. >> that's why it's so important. why did the money go out of technology you talked about trade just think for a second about this the money came out of technology when we had the

ask a business advisor how to get on demand tech support for as little as $15 a month.his week get boise case paper for only $29.99 at office depot office max.

ask a business advisor how to get on demand tech support for as little as $15 a month. this week get boise case paper

became a tech executives. as a tech executive, what is your reaction? treated is ceo basedg -- tweeted out is on our concerns. if you look at the history of , it has been the sense of travel. travel has always advanced the human condition. we are in a time period where you are having a travel ban. about children being separated from their parents. that is fundamentally inconsistent to what it means to be american. at the course of human history, whether it is migration, immigration, x ration or innovation, travel has always been at the center of that. we think this is really a fundamental question about whether we want to continue to move forward as a country or go backwards? involve ourt business from a dollars and sense perspective, but i cannot help but think that on this day, 55 years ago, in what was then west berlin, john f. kennedy gave his speech about tearing down walls. today you have the supreme court ruling. the statue of liberty is crying. the cofounders of airbnb said gripping children from the arms of their parents is immoral and counter

the dow erased 285 point gain as tech shares slide. >>> a follow up affecting your money. voters in mountain view will decide whether to tax businesses based on the number of employees they have. city council voted last night to put the measure on november ballot. critics say it is a tax on jobs. the mayor said if it passes, the tax would raise $6 million. all of it to be spent on transportation and affordable housing. two issues mountain view and the bay area continue to struggle with. >> and speaking of affordable housing, everywhere you look in san jose something is under construction. and that is good news for workers, but it could be bad news if your trying to plan to do something big or renovations with your home. the city said building permit requests and remodels and home additions will rise and if you are looking for someone to do the work around the house, you might have to wait a little bit longer than expected. right now we want to take you to -- we do have a report coming in live talking about justice anthony kennedy stepping down from the bench. let's listen

it would be great if the banks were participating too however, tech, as we already learned, is good enough to do it almost bike itself >> we felt tech would reach a certain point in the s&p, it would be too much. i bought into that just said, listen, i have to scale back what i didn't count on is that when you look at it on a relative basis versus say the drug stocks, no thank you. when you look at it for relative basis versus say the industrials which i love but are caught up in the ping-pong, that is bothersome retail, some good, some but the tech group itself, whether it be social media, whether it be data center, whether it be pure internet of things, i'm not saying you can throw darts because there are some that aren't that good, but wow. it is so broadbased and it's so not fang, even as the media seems completely fixated that it's just about facebook and why doesn't it get bigger. i'm saying tt the media is wrong. >> you know, you always have this market call by jpmorgan today that upgrades the u.s. to overweight >> right, i threw this at someone today and they had a concussion >> i

about 101 points, earlier we had about 200 points of gains but now all of that virtually wiped out as techegates oils run to $73 per barrel plus the surprise announcement although it was heavily rumored that justice anthony kennedy will be resign ing next month. stepping down. wall street's loving the trump adminitration's decision though to wave, we could call it a white flag on challenging foreign investments and that happened this morning the dow up 286 points at the high, that of course is now all gone

about 101 points, earlier we had about 200 points of gains but now all of that virtually wiped out as tech negates oils run to $73 per barrel plus the surprise announcement although it was heavily rumored that justice anthony kennedy will be resign ing next month. stepping down. wall street's loving the trump adminitration's decision though to wave, we could call it a white flag on challenging foreign investments and that happened this morning the dow up 286 points at the high, that of course is now all gone plus so we had a more than 300 point swing first a big thrill when it appeared that the president was easing up on what was expected to be much tougher bans for chinese investment in u.s. companies. then of course we get the supreme court shocker just after i guess you could say 2:00 p.m. eastern justice anthony kennedy announcing he will retire just hours after a major decision both of which could change the complexion of the mid-term elections, so reaction to justice kennedy's decision coming in fast and furiously. president trump thanked kennedy for his years of service, said he had

in the mean type the nasdac did snap that losing streak as tech got hit the worst recently the dow finished higher by 29 points and we are seeing that both the dow and s&p are up for the second day in three. the dow winners are apple, visa, chevron, united technology and exxon and you see a couple energy names, that goes back to fill flynn take a look also at general electric, i don't know how it factored in today because look at that, 7.7% gain, don't forget, they have been the plan of ceo flannery and that happened again today. healthcare units sold off, ownership of baker hughs shed ding that ownership. yesterday it was the industrial part of it, the industrial engines unit for that also sold off so that's what general electric has been up to stocks at 13.74 gaining 7.7%. quick peak at tesla which gained elon musk talking about the new electric pickup, which will park itself automatically and has a lot of features up 2.7% back to you. adam: nicole thank you. oil surging closing up more than 3% to a new one-month high after the u.s. state department demands all countries cut all of their

the classical -- classically defensive groups training higher as we see yields lower, then, consumer , a more economic sensitive group techen now as well. also, consumer state through -- staples to the downside. isis not that trends that economically dependent. technology is doing well. large-cap in particular. the records along with the nasdaq 100. the momentum trade is seemingly continuing. it is the media helping on the news that comcast will be benedict -- bidding for the 21st century comcast disney shares higher, comcast shares higher, not to mention a much rotter media as well on continuing speculation about who else might be the target. one of the down groups, banks and financials, are under pressure as we have yields whatng down enough despite many viewed as hawkish commentary coming out of the fed yesterday. go figure. you see citigroup and wells fargo lobe -- lower. a quick check on the spread of the curve here. the yield spread on the bloomberg, we have it continue to flatten or narrow. terminal, you the see a longer-term chart of it. here.heading down right now, 30 seven. quite some time breaking below 40 spre

technology be able to come out as the best performing sector this quarter as energy continues to rebound take a look at the nasdaq up 7%. techas more insulated from this trade dispute, though should point out overseas markets have been caught in the cross hairs. the shanghai composite posted the worst quarters since the first quarter of 2016 when we had the devaluation fears rise south korea down 5%. overall traders saying asset managers pitching to go international have to rethink whether the strategy of going global works back home, busiest week for the ipo market and the average return this year from an ipo price 32%. that might explain why the ipo market has been picking up steam. we're talking about bitcoin. below 6,000. >> thank you very much when we return, duetch is failing part two of the fed stress test the bank's new ceo is going to weigh in take another look at the major averages here. dow up 219 dow up 219 positive for the month but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. an you set it. nasdaq. rewrite tomorrow. "squawk on the street" is back

prime, but also in the zone of looking at mobile applications and digital advertising markets such as the tech platforms. molly accepted this more narrow definition from which makes the effect of the merger more pronounced, he was indicating a much broader definition of the market. the more inconsequential the merger becomes. >> it's really important to note much of that i agree with including the market definition in the context of this larger te andntitrust in this y asould be. an some time in terms of the benefit, this debate is not taking place in front of judge edof can be that hundr millions of dollars of consumer benefits arriving from the merger. the law professor in the width up to 30,000 landscape decisions assigned to my students. the real decision before him litigated between the party, doj conceded hundreds of millions of dollars of consumer benefits and put upon the pares the question, can you show me greater than those, the government experts and maybe there'll be a a 27% cost increase per pscriber per year and not statistically significant. i don't think it surprised me when th

welcome as well given the company has struggled so much getting what is now dropping down of the dow. >> european stocks traded higher. digesting new developments on the trade fallout. really hitting techselloff in the u.s. yesterday? >> we seem a little bit of a reprieve today. therall feeling is a bit of caution. no one likes trade wars on the other side looks to back down and is making investors a little bit nervous at the moment. these prices a little bit lower. we need to hope that we will see one side of all side at the negotiating table in back a little bit. >> is certainly way. craig, thank you very much. appreciate it. gerri: time to send it over to maria bartiromo to maria bartiromo for "mornings with maria." >> happy tuesday. thanks for joining us. i am maria bartiromo. tuesday, june 26. top stories right now at 6:00 a.m. trade sparking a selloff stock yesterday. debates on how the administration is targeting china by blocking exports and presenting chinese firms investing in american technology. the european tariffs are hitting home for an american mainstay. >> harley davidson is a true american icon. one of the greats. american servicemembers and they take care where polic

as we head into this conference? emily: i think these ar developer tools are really interesting. reporter who techple has talked about how apple is planning to release a headset, and 's headset as early as 2020. what we are seeing is building the foundation for a potential big ar that form. we are expecting ar kit, a toolkit for developers working on ar. we are expecting updates there. cuteve seen some fairly announcements of far. nothing too dramatic. they do have a new tool. it is called -- it is basically a new file format for a are programs which will make it easy to drop ritual objects into virtual environments. you so much. thank emily chang. you can catch her live commentary and analysis of the conference on tliv on the bloomberg. coming up, president trump doubling down on his hard-line immigration message, turning his attention this time to agricultural exports. this is bloomberg.♪ ♪ mark: i'm mark crumpton with first word news. groupafter graduation, a of survivors from the february shooting at florida's marjorie stoneman glut -- douglas high school has announced a multistate bus tour to

we do not have as many tech stocks trading here as they do there.uro stocks futures up .4 of 1% as our ftse futures, cap futures up half of 1%. investors are staying pat. 3% but still at a relatively high level as investors switch between buying and selling -- selling treasuries. let's look at the gmm and worker way around the world, figure out what is happening as we break down these silos of what is happening between the different aspects. australia trading higher, japan higher. there is a broad story in the u.s.. leadership coming through other areas but tech is having a good time. -- the s&p is trading high. out for the s&p 500 -- up for the s&p 500. we movednother story, down 1%. as we will hear very shortly, the brazilian real has already been moving aggressively. it is there or thereabouts. is trading higher against the dollar. commodities are trading higher. this is what is happening in the bond market. the bloomberg if -- index is up. ti is trading up .501%. of another .3 of 1%. commodities are on the front as well. the dollar is coming dow