and who was the host, leonard bernstein. and he was hosting a beautiful musical program, one of many, in fact, that took place at the white house. and it featured our own beloved artistic adviser at large, yoyo ma, as a 7-year-old. very special program. you can find it on youtube. it reminds you of the reality of seeing president and mrs. kennedy with those artists living today and can tell you about it, and leonard bernstein, who was probably the most influential american musician that we all will remember. now leonard bernstein went on to then compose the work that was brand new commissioned for the opening of the kennedy center in 1971. the white house actually, and i'd love to be able to share this and maybe we'll hear more in the panel, but the white house was actually a place of musical performances. in my understanding, i'm sure david rubenstein knows more, was that john adams was the first. and he had and hosted the marine band, who was just barely in existence back on new year's day on 1801. and president eisenhower

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carl bernstein, thank you very much for taking the time this weekend.ly on a holiday weekend. always good to have you with us. >> good to be with you. >>> 34 states are seeing rising coronavirus cases. even as health officials urge caution. we are getting videos of crowded parties. potential impact, when we come back. back. stay right there. all strength♪ ♪we ain't stoppin' believe me♪ ♪go straight till the morning look like we♪ ♪won't wait♪ ♪we're taking everything we wanted♪ ♪we can do it ♪all strength, no sweat - [announcer] food delivery just got more rewarding.ic) (package crashing into ground) now that gruhhub gives you rewards when you order. (dog barking) did you order tacos again? (device beeping) boom, rewarded with a perk like $5.00 off. ordering dinner for the family? voila! rewarded with free delivery and a side of quiet. grubhub gives you rewards for rewarding yourself, with food. (doorbell ringing) - [crowd] grubhub! (scooter horn beeping) >>> live in the "cnn newsroom." thank you for staying with me. i'm ana cabrera in new york and just

so in bernstein's words, the vaccine hesitancy is probably not a material risk.nk that's more good news. jack: i sure hope not because, yeah, that could be painful if people don't take it. >>> coming up, sir martin sowell on whether it's safe to tara, did you know geico is now offering an extra 15% credit on car and motorcycle policies? >>wow...ok! that's 15% on top of what geico could already save you. so what are you waiting for? idina menzel to sing your own theme song? ♪ tara, tara, look at her go with a fresh cup of joe. ♪ gettin' down to work early! ♪ following her dreams into taxidermy! oh, it's...tax attorney. ♪ i read that wrong, oh yeeaaaah! geico. save an extra 15 percent when you switch by october 7th. ♪ give it up for tara! ♪ ♪ jack: the covid-19 pandemic and stay at home orders have forced companies of all kinds to embrace the digital world. the already disruptive advertising business has accelerated its move into the online future. joining me now, the man who built the wpp conglomerate before founding a new venture, sir martin sorrell. thank you so

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ronny gal with sanford bernstein is with us now.like a promising development out of oxford. give me your headline on what we are hearing, why it matters. ronny: they are using a novel technology, injecting patients with the rna, a piece of the virus, that will hopefully stimulate patient immunity. we are seeing pretty good results. we are seeing titers in line with patients that we are seeing recovered. essentially all of the patients are responding in the trial. overall, pretty encouraging. some are showing a good activation of t cells. we are seeing things from multiple companies and this approach is likely to generate a working vaccine. and progress toward the goals of the company's but is it what people need? do we know what people need yet? ronny: we need a vaccine that will work for a decent amount of time, that is safe, that works in the elderly and not just a healthy population. it takes time to generate this kind of candidate. what we are seeing now are the smoke signs before the fire. we are seeing measurements of the bloo

if you read the two books, you ought to read my review of bernstein.he wrote his book about 20 years after mine, so i shot back at him in a review. the other thing, if you were really interested in that subject, i think i ought to tell you that the book that you'll see in the gift store is part of a series that doesn't allow footnotes. i also wrote it as a hardback book, and all the footnotes are in the hardback book if you want to trace my research. thanks. >> okay. anything else you would like to say, professor? >> we're going over a little bit. >> is this our closing? >> this is our close. >> all right. does paul get another closing? i don't know. >> let's close with you because -- >> great. thanks very much again. there's lots of mythology about the lochner court. we didn't get into, for example, the mythology that come about as holmes invocation saying theinv associated this with a condemnation of social darwinism, when in fact spencer was not a social darwinist of any kind, and he did believe in evolution, but he didn't believe in social darwinis

are hearing from dances of the of richard bernstein advisors. thank you for being with us. you take a look at the positive economic numbers. the big outperformance in the russell 2000 today. you said you were a little overweight on u.s. versus the rest of the world. how do you think about that going forward? small-cap producers getting a big win? dan: i think modest overweight on the u.s. still makes sense, but i think moving that angry mental dollar outside the u.s. makes more sense. clear thatis very the data is getting better in the u.s., but i think that what is going to be critical is to see the way that stimulus takes form. the way i characterize this recovery, we've gone from a 100% economy to a 0% economy. i think if we are lucky, we will get to 80%, 90% by the end of the year, but that is still lacking any further stimulus, there's a lot of businesses about to go under, a lot of people to get laid off, and a lot of delinquency and bankruptcy to come. you said there's so much lack of clarity when you are trying to see where this market goes next. how are you hedging

jared bernstein, the longtime economic advisor to vice president joe biden, for years now, has crafted moderate, centrist approach to reopening the economy. it focuses on workforce development, infrastructure to some extent, and of course, racial inequality. he is trying to bridge the progressive and centrist wings, and he has been relying on some other folks. based upon my reporting, former commerce secretary penny pritzker has also been -- secretary teddy pritzker has also been working with the former vice president. tom: i have the clearest memory of that first tuesday in november for years ago, staring at the screen and staring at and suburbs in philadelphia knowing that something historic was happening. can those suburbs pulled towards joe biden? need toemocrats outperform in the suburbs around the country, not just outside philadelphia. think you are seeing such a concentrated effort to win back the suburbs. we saw it in the midterms, and that is why they were able to make gains in the house of representatives. now with the senate in play, we are really focusing on the suburb in

he has particular experience at bernstein and the acclaimed banking black book at bernstein. -- how diderpent the super regionals reaction to big bank dominance? do you just presume a banking merger rollup frenzy coming off of the realities of digital banking? christian: good morning. thanks for having me on. see the originals or capital market -- i don't see the regionals looking at capital market gains. it is not particularly helpful at times like this when the economy is under stress, and credit sensitive earnings are under stress. that is very helpful for a time at this particular, particularly for stocks like goldman sachs come over they have a particular strength in capital markets. aroundu used to walk with neck braces, there was so much whipsaw in capital markets. are they still there? christian: that's a great question, tom. it is still in there, but volatile. markets are very volatile, but the business models have transformed over the last decade. they are far less volatile, much more client driven. the banks take far less credit risk. much of that risk has been pushed into th

if you were going to read those two books you ought to read my review of bernstein. because it is unfair. he wrote his book 20 years after mine. so i had a shot back at him in a review. the other thing, if you were really interested in that subject, i think i ought to tell you that the book that you'll see in the gift store is not -- it is part of a series that doesn't allow foet footnotes but i wrote it as a hard back books and those are in the hard back book if you want to trace my research. thanks a lot. >> is there anything else you would like to say professor. >> is this our closing. >> this is our closing. >> okay. does paul get another closing. >> let's close with you because professor began. >> thank you very much again. there is a lot of mythology about the lochner court. we didn't get into for example the mythology that comes about as a result of justice holmes' invocation and then many have associated this with a condemnation of social darwinism when, in fact, spencer was not a social darwinist of any kind and he did believe in evolution. and stoeshl stati

jared bernstein is a fellow at the center for budget priorities.t piece in "the washington post" is "the built-in biases in economic." good to see you, thank you for being with us. i want to get some sort of evaluation of the appeal of joe biden's economic plan, particularly those parts of it about made in america. the democratic party has had a hard time figuring out where they are on international trade. there are some workers who are a little more protectionist. there are some people, wealthier democrats, who think international trade has been the best thing for us. made in america plan suggests a bit more of a protectionist agenda than joe biden has normally engaged in. >> i certainly wouldn't put it under that sort of a rubric, as much as trying to be a lot more careful, thoughtful, protective of american security and american workers through processes that make more of what we consume here in this country. so procurement, you know, you mentioned a $400 billion procurement plan. well, i think it's important to recognize that over trump's presi

. >> joe bernstein was about 14 or 15 years old when he took his first photograph of joni mitchell and then became her photographer. >> she is the director of the sonoma valley museum of art. she said some will probably recognize some of them immediately, like the beatles or the rolling stones. but the broad range of photographers and lesser known backdrops is what makes this exhibit so unique. >> here our exhibition is california and these photographers. it's about rock and roll, but really, those are the stars of the show. >> reporter: and the stars shine through three historic decades of rock music. from famous settings in jam-packed concerts to intimate moments in out of the way locales. the exhibit focuses on california and a sense of time and place that stretches out like a musical landscape across decades and genres. >> you're not getting just on-stage shots, you're getting a little bit of the individuals, too, and what they were like as human beings and what their lives were like. it's a great glimpse into the performers and also the photographers as well. >> really, aren't tho

bernstein says they get why there's a bull case for the stock price as tesla has great technology anddriving, huge leader in an underpenetrated market which means electric cars, and they say they are calling tesla's short-term stock move a fool's game in order to predict where it will go in the short term because tesla could blow out all estimates, especially as battery day approaches on september 22nd. still, bernstein says until tesla can prove that yes, autonomous driving is here and they will put in higher margins, they are still calling it a $900 stock. you never want to underestimate elon musk. stuart: susan, did you just say battery day? susan: battery day. yes. remember, battery day, they are going to talk to us about the latest in their battery technology? we are looking for the million mile battery? still seems a little bit off but this is where the battery can hold a longer charge than 200, 400 miles. stuart: interesting that maybe battery day is one of the reasons why tesla's stock price has gone way above $1,000 a share. susan: deliveries, earnings, profits for the fourth

a senior columnist with the asset manager alliance bernstein a suggested that the unemployment figures will remain in double jeopardy digits for at least 2020 and maybe beyond what's your interpretation of how you see the unemployment figures and also the u.s. is recovery is it all just dependent on the way that the virus can be controlled or is it always is it also about how international trade develops and improves. so you mentioned 2 huge influences trade and a virus i think those are both really important and i would add at least a 3rd one which is the path of fiscal policy in the us if we know that monetary policy has taken a very strong accommodative stance and that's very important but it's not sufficient what we will need in order to to support a strong recovery is strong fiscal policy support without that i think i fear that that the the normal recessionary cycle will be quite a difficult one in the months coming coming ahead so i think the best case outlook for us is that the truck the labor market traffic was in april and that we'll see steady improvement from there chase we

according to bernstein, the best fixed-income trade once again is equities.into a week tech is starting to selloff, you want to get back into the index. about 30%, 40% are these tech heavyweights. perhaps it makes sense to step in and by what is more of a technical trade than a fundamental one. nejra: dani burger, great work. group is looking to beef up big business. president mike evans spoke earlier with david rubenstein. respects, isn some a huge e-commerce company like amazon. but in almost every other respect, completely different. it's core operations are in china. it has a very large cloud business, very large e-commerce business. very significant logistics business. it has become the leader in china with more than a trillion overdollars of sales and 700 million consumers. what it does internationally and particularly in the u.s. is still a mystery to most people because we don't have a platform in the u.s., so we are not here selling products the same way that an amazon or ebay or other e-commerce platforms would do. what we do is we sell tens of bill

back over to you >> rob, bernstein, the found er that company this moment, companies are trying to con vev costs. you spend a lot of time with logistics and companys in that space, is that a theme you see among the companies you talk to? >> yeah, there is a company. they're known for a software that is trying to make things more efficient even on spend something. and that is where analysts say it packs a punch >> thank you for that. we continue to watch the evolution of the news story today. we have a statement from the league tonight's scheduled game between the marlins and the orioles is down we have draftkings down 7% this morning. well have more when "squawk alley" comes back. t on top of what geico could already save you. so what are you waiting for? dj khaled to be your motivational coach? yo devin! remember to brush in a circle motion. thank you... dj... khaled. tiny circles, devin. do another one. another one. is this good? put in that work, devin. don't give up. geico. save an extra 15% when you switch by october 7th. >>> welcome back,here is your snuz snuz update. a national

jared bernstein advising vice president biden about an economic speech in scranton, pennsylvania.rick joins us now for a briefing. what will be the goal for the vice president, jack? plan to will lay out a respond economically to the coronavirus, that in some ways you could describe as moderate, but in some ways, aggressive. leeway, orlot of whoever the president will be after after the election will have a lot of leeway to keep spending money, to try to rebuild the economy, but this will not be focused on some of the more progressive stuff you have heard from other democratic candidates. tom: come on. jack: it won't be like a medicare for all, green new deal kind of thing. it will be about incentivizing american jobs. clean energy, things he wants to talk about, childcare, that kind of thing. tom: well said. that's what, he is running down the middle because he has to take pennsylvania in the election or he is toast. how upset is elizabeth warren? how upset is the senator from vermont? jack: he has this task force working with bernie sanders to try to come up with a middle ground

a good time to catch up with beata kirr of bernstein. futures at -10. dell futures at -79.ed backup .76 points. 25.50 on the vix. continued dollar weakness over the last three days. also a two cent spread, coming back from where it was yesterday. a little bit steeper. this is bloomberg. good morning. ♪ tom: this morning, they "clearly do not have shared values." the distance between republicans and democrats is far greater than a $2 trillion divide. speaking of distance, it is 294 feet to walk from a trump international hotel to the fbi headquarters. talk this morning on the multi-chilean dollars socialist manifesto." "multi-trillion dollar socialist manifesto." mark as well, he continues in the state to state. it continues in the dugout of the florida marlins. this is "bloomberg surveillance." francine lacqua with us. i have such respect for premier football.opean by bus chops all the time, but you guys did that so much -- i bust chops all the time, but you did that so much better than sports in america, just incredible.

maybe somewhat like what jared bernstein has done.onathan: how about next time you get her on i will -- he will ask the question. tom: i'm not as rude as you. jonathan: i will give you some lessons in a commercial break. most economists will tell you looking at the high frequency, things are stalled out. lisa: there's a question how much value does this data have at this time. i think it's important to see how much momentum there was heading into this latest bout of virus uptick and get a sense of what the potential is to get back up and running if we get medical care. jonathan: do you think i'm rude and interviews? it lisa:. no. terribly i think i'm diplomatic, polite and subtle. egue.oh, nice said jonathan: we will hear from ecb president christine lagarde. ♪ jonathan: from new york city, this is "bloomberg surveillance." and lisa tom keene abramowicz, i'm jonathan ferro. your economic data just around the corner. we can get you your retail sales first. we can do that with michael mckee. michael: let's go through it all quickly with

in a cup the investors, david katz, and dan suzuki, deputy chief investment office with richard bernstein advisers good to see you both dan who are your expectations? will we see any positives comes out of this earnings season? >> it depends on what you're looking at if you look at the numbers, you won't see any positives. we all know, having like tess other data out there that the second quarter earnings season was probably miserable, but it's a bit backward-looking to look at that numbers, so companies will tell you miserable, but things are on the upswing now. what's less important for me is the numbers that they post, but i'm curious how they balance, you know, the focus on preserves cash and cost cutting and profitability. if you're more focused on the former, i think that's more of a negative as a whole, but if they're more focused on the long term and growth, preserving their employees and spending on growth, i think that's more bullish of a growth signal. >> david, what about you from the value standpoint? what's the theme that you're looking for this earnings season >> well, we a

derekou know the work of bernstein and others assisting price president bided -- assisting vice presidenthas biden contacted on you for advice? jason: i am in touch with people in the biden camp. i think they have a lot of good ideas. tom: you did not tell him it was a bunch of nonsense. jason: like everything, there are parts i like and do not like. jonathan: jason, we will let you go. always great to catch up. jason furman of the harvard kennedy school. is this a new habit of yours, you will work out who will be in a potential biden administration? tom: we are working on it. dr. fuhrman and i have done a number of things in the council foreign relations. his analysis is so transient that even people of the republican persuasion have to read fuhrman to understand the center ground. there is no conversation about finding the center ground of democrats and republicans. jonathan: when you asked jason about the size of the stimulus package, it was not $3 trillion, it was something north of what republicans are looking for. tom: this is important. some of our guests are very policy driven on

how dependent the market is valerie grant is senior vice president portfolio manager at alliance bernstein and mark lehman is in securities. let's start with you valerie, are you concerned that there is narrowness in the market leadership, technology making up a huge percentage of the s&p 500 and an awful lot of the gains in the s&p 500 are attributable to handful of those companies >> right i'm not particularly concerned about the concentration in terms of what's driving the market upwards. what people have to understand is that technology companies really create the foundation of our economy right now. some of the classifications can be a bit misleading. while we think about financials, perhaps as being a smaller portion of the market, there are some financial services companies that are actually cat g categorized within i.t. services >> five stocks constitute 23% of the market value and for which a lot of the gains can be attributed were you or not? >> amazon touches every part of our lives. you look at venmo or square cash and look what they doing those are categorized as tech stocks b

this note out of bernstein, david, as they go to underperform, pretty remarkable comment here ordinarily we frown on moving ratings directly on an earnings night, but this, our 45th intel earnings call was the worst we've seen in our career covering the company from here we see things growing increasingly painful as we said, i counted at least five downgrades from deutsche, barclay's and others. >> and we had that analyst that joined us at the top of the hour, mike you mentioned amd which i think is important i'd like to take a look at that but that is quite a significant loss as we learned, it's not a loss of market cap, it's not just about the delay in the chip as you look at amd surging there, it's also about the second-half guidance but interesting that amd is continuing to build on its growing strength as it really has become over these last -- well, let's call it five years at least under the leadership of lisa su. bob swan of course is coming up later. >> it's amazing and shows why tech investors are often so hesitant to lead with the value proposition. intel has been cheaper than

bernstein says a spinout would result in a higher equity level. slink to grow.something comcast is thinking about you can imagine brian roberts thinks about everything. he is way ahead of you when it comes about increasing ways to shareholder value or what the next deal will be or anything like that. when i have heard from bankers who were always pitching these ideas is the idea of could you ever swin nbcu if at&t was willing to spin time warner and put it all together and create a massive entertainment company. obviously you need divest urs, clearly antitrust questions but that's when this idea comes occupy, not necessarily just a pure spin but it has the stock up this morning. it was briefly at 40 bucks a share, guys. i did want to mention that. >> david, didn't you think it was funny the way it was like an open letter to brian roberts. >> yeah. >> it was signed. >> i did >> personal. >> i did i know it's a little bit of a gimmick there. but, listen, it got our attention, right, so it i guess it worked. >> i did the same thing. when i saw this i thought i bett

players, 3m, mcdonald's, pfizer, raytheon, the gop proposal is out, two-day fed meeting begins, bernsteinuts tesla to sell watch gold as they were just saying hit 2 k overnight but has settled back jim, we do have some earnings to chew on, but there's still a lot on deck for later in the week. >> look, i think that many people want to be able to say we've seen the bottom, you will hear from mike roman later on today, july has been very good i think you will continue to get a positive from housing, this horton number is the number people should be focusing on because it was stellar you will get a lot of people talking about how there is a lot of good news in anything involving personal fun, polaris, but just -- we're just in such dim tidings when it comes to aero space that's what i'm focused on greg hayes, 2023, oh, my. >> you were just talking about that and then iata, the international air transport association is saying 2024 for pre-covid traffic levels they also point out that airlines are adding capacity, jim, ahead of demand which is coming back slower than they thought. >> personal

i did want to talk to you about carl bernstein's reporter who broke watergate. he wrote this what president trump said to u.s. allies and i just want to read this out. notably about women and i'm quoting here directly his most vicious attacks said the sources were aimed at women heads of state. in conversations with both may and america america the president demeaned and denigrated them in di didiatrib described as near-sadistic by one of the sources and confirmed by others. some of the things he said to america america are just unbelievable. >> what's your response to the report? >> you know, it's so troubling on so many levels. just setting aside the gender question for one second, look at the countries we're talking about. it's the uk and germany, some of our closest allies when it comes to sharing intelligence, protect each other's country, working together with regard to our troops on a huge range of issues both from the military point of view, to financial point of view, to even when we look at covid. these are the kind of relationships that we really need

since we passed the georgia floyd justice in young, biracial althea bernstein was set on fire by four white men as sat in her car. three police officers from north they na were fired after laughed at slaughtering black people. the president of the united states proudly promoted a video of his supporters shouted protesters." at mr. speaker, if we fail to meet to enact the change demanded by millions of mericans of all colors, all kreedz, all -- creeds, all beliefs, the damage to this and to our nation will be immense. was built to be a reflection of the people that we represent. hey have the courage to create that change. so should we. i yield back. the speaker pro tempore: the chair recognizes the gentleman from south dakota, mr. johnson, for five minutes. thank you, mr. speaker. uring this covid-19 pandemic, ag producers and consumers across the country have suffered seen the cracks in our food supply system. small state inspected processors, meat processors, did step up and ld to close the gap, fill the gap, but heir efforts were hindered by the fact that federal laws don't allow fo

so everybody becomes a woodward and bernstein around the people they hate.magine if the media had been energized about harvey weinstein ten years ago or jeffrey epstein ten years ago where the decay of democratic cities 20, 30 years ago were just recently, the scandalous debts were baby hunter biden writ enriching himself off of the data. or who push the steele dossier? we haven't heard about the steele dossier, the clinton author and order to pay damage on the dossier lies. so the bottom line here is, media bias isn't always about the story that the media chases. it is the story they pretend don't exist. >> jesse: that is a good point. so why doesn't the president just acid wash his returns? that is what hillary did and no one seemed to care. >> greg: there you go. >> jesse: would be joe biden ripping off one of the signature campaign promises. greg has the monologue on that next. ♪ liberty mutual customizes your car insurance, so you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty

finally shares of spotify lower over at bernstein. even if spotify could increase the market share, it won't add much to the bottom line. only taking off about 4% of that gain today now sue herrera for an update today. >> ghislaine maxwell accused of putting girls into minor sex acts is in jail, but isn't being housed where jeffrey epstein took his life in august. her bail hearing will be held on friday >>> chinese health officials confirming a herdsman in the country's inner mongolia region has been infected with the bubonic plague the man is in stable condition and receiving treatment at a hospital they are warning of hunting, eating or transporting animals in that area >>> twitter is joining facebook in whatsapp in suspending all data inquiries in light of china's controversial national security law >>> espn films is gearing up to produce a docuseries on the life and activist colin kaepernick as part of a deal with disney >>> i send to back to you, kelly. >> thank you, sue herera >>> the headline doesn't tell the full story of the

do you think these companies are looking at either the suburbs, or look what bernstein did, they movedo nashville, moving to lower cost areas >> i think the larger firms are looking to the outside goldman sachs is a massive center in salt lake city that's been the case for years now. the big firms are doing that smaller firms, i don't know if the cluster effect of start-ups is necessarily going to apply. there is kind of a thin tech alley in new york, so maybe that can continue to thrive but it's very much unclear what the real overall head count would be i also recall in 2001 after 9/11, morgan stanley bought an office in the suburbs and they had a big head count there as well >> i know the burbs are excited about the potential. kate rogers, make santoli and seema mody, thank you. >>> we're going to talk to the owner of malls around the country, including covid hot spot florida, about whether owners like him should be bailing out the big box stores that's next. >>> stocks reaching highs today. me depot costco, lowe's, monster beverage we're back in a couple. >>> welcome back we have a

alix: it's good to catch up with you to get a good speaker pective, valley grant of alliance bernsteinthank you very much. breaking news, the index drops to the lower level since january and the dollar slide continues and what it means for u.s. equities and the rest of the markets. we'll break it down as gold hits over 1900. this is bloomberg. ♪ ♪ >> gold is really on a run, doing well. alix: what about silver? >> silver also because silver of course will follow gold but gold of course is most important. alix: that was mark mobius of mobius capital partners speaking to us yesterday. he is liking gold and silver. we're $22 away from that record high, mike. when do we reach it? mike: we've already done it in the futures curve. if you look at one year out futures, we're at 1960 and it's a matter of time for the front futures and then a question of how much of a pullback we get because we know it's good resistance but the big picture is gold and the bull market is just getting started, i.e. before we were tracing the decline and now we're starting off a new high. it's just getting going. a

looking at pregnancy and covid-19 show that the virus can indeed be passed on g me with more in len bernstein. thank you for being here. this was a very small sampling, but does provide an important look at pregnancy and coronavirus. >> yeah, thanks for having me. you're exactly right. i think you should think of this as bread crumbs at the beginning of a very a glimpse of what may be possible, unfortunately, which is the passage of this virus from mother to child inute row >> let's talk about what might be happening in the womb. >> well, what might be happening in the womb, though they are not entirely sure, is that the mother is sending the virus through the placenta, to the fetus, and the way we know this is we found some antibodies in the newborn babies, two of them actually tested positive for the coronavirus. in a separate study, not the one that we wrote about yesterday, we also found a lot of damage to the blood vessels in the placenta, 16 placentas, in fact, showed blood vessel damage, ask we know that this virus attacks blood blood vessels. so the evidence is mounting. we don't know

. ♪ ♪ >> whitaker: the first notes, of leonard bernstein's music and stephen sondheim's lyrics stirred know right away as soon as it shows ♪ >> whitaker: but ivo van hove, a tony award winning director, known for his cutting-edge productions, promised something new: a more raw and raging "west side story." >> ♪ little man you're a boy little man you're a king ♪ >> whitaker: it's van hove's first broadway musical. updating this american masterpiece was his idea. the belgian director says the story is universal. jumping into this american classic, there must be things about this that just scare you. >> ivo van hove: everything-- ( laughs ) --scares me about this. it-- it's a huge challenge, because-- everything has to be on the highest level, the singing, the dancing, and the acting. and of course everybody has an expectation. ♪ ♪ >> whitaker: the songs and arthur laurents' story are the same, but the dancing... all new. ♪ ♪ >> de keersmaeker: okay, one more time. >> whitaker: van hove tapped choreographer anne teresa de keersmaeker, his friend and fellow belgian, to design more contempo

. >> you know, just now as you were talking about that, laura, i thought about the bernstein bears. you remember those books? >> oh, yeah, of course. mama bear and papa bear. >> yeah. >> none of them were wearing overalls. >> yeah. probably one of my favorite series growing up. just had a flashback. thanks, laura. >> i think they had a cartoon, too. little memory lane. >> it really is. >> you know, it's so funny, they write about little bears all cute, but bears are very big and dangerous. you need to stay away. you see them a lot in tahoe. >> we remember those stories. you know, we get a little bit nervous when we see them. but i know, laura, you were talking about tahoe and a lot of bears up there and the weather up there, too, probably be bear friendly. i don't know what do you say, kari. >> yeah, of course. they're going to love the sunshine and we're also going to have some comfortable weather. it's also going to be great for people heading there if you're lucky enough to be able to go. here's a look live right now at our sunrise this morning as we're starting out on this long

andrea bernstein co-hosts wnyc radio and propublica's podcast" ."p, " >> the president consistently files difffoent sets of rmation on his tax documents and on other documents, for ex dample, bank louments-- when you want your value to look high, the nrsumon't necessarily match tax documents when you want the numbers to look low so you pay less taxes. so that is a pattern that the district attorney could possibly turn up as a byproduct of this investigation. >> reporter: in a separate case, te same 7-2 lineup reject president's arguments about broader suoenas issued by several house committees-- but it also turned away the congressional claim to virtualle unlisubpoena power. again, roberts wrote the majority opinion." far from accounting for separation of powers concerns, the house's approach aravates them." >> he said the executive branch and the legislative branch work these things out together. h but, apparentl said, that process has broken down. roberts said, what we nee here is a balanced approach, and it has take into consideration that these

rich bernstein actually, an analyst people read about, he had made this interesting comment where he said that's like paying, buying nissan at rolls royce prices. you wouldn't really do that, would you, phil? >> depends on what year the nissan is. if you are buying a 1960s nissan it might be a good deal. in other words, you have to keep it in perspective and compare what you're looking at. one of the things you have to remember when you are looking at these pe ratios, we are looking at pe ratios with the biggest amount of global economic stimulus ever. i mean, we are talking $10 trillion and counting of stimulus. we are talking about historically low interest rates for an eternity or what could be an eternity. any time you look at that and try to look at the value of these stocks and these price-to-earnings in today's dollars, you look at where they are going to be two years from now, when you might have a better economy, then maybe we are not so much out of line. that's why these things look so high. you look at some of those individual stocks, they all have their own individual pro

bernstein seeing a research analyst for asia-pacific health care.eeing just almost frenzy within biotech and health care names as a result of any piece of news pertaining to therapeutics or a vaccine development. covid-19.ork for how much of this is speculative in what is a hugely speculative incrementally data-driven sector? >> yes, so the sector did extremely well in the first half. the drivers behind it are partially around covid-19, especially the r&d folks focusing on vaccines and drugs. smallally regionally, any -- it's talked about on the news. it is more shifting to her -- toward a more promising one. areddition to this, there strong demands for diagnosis. for ventilators. as you can imagine, when the whole virus pandemic becomes global. in addition to this, over the last few months, there are a lot of busy biotech ipo's. biotech,irm runner of aging dialect, it performed very well. partially driven by the covid-19, the investor's level or belief -- it has also improved significantly driven by the virus. that forward, i would say the demand f

bernstein, buying china mobile, sayu, for fundamental, they sands china, the value debate has returned. they say flip the page. watching japanese airlines, jal trading lower. plenty more to come. this is bloomberg. ♪ ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) is 10:29 in hong kong. here are the first word headlines. the european union is threatening new tensions with the u.s. after striking down big tech data across the atlantic. the court said it has doubts about u.s. protection laws in the wake of edward snowden's revelations about american surveillance. we need to continue to to have a better approach. we need to discuss with u.s. colleagues to see w

my name is harry bernstein. the balboa reservoir project, which has been aimed in your direction for years, will be coming to two board committees next week, monday and wednesday. in june 1988, prop l authorized the construction of 203 houses. it also offered to set aside 16 acres of the college's west campus for a "future city college" if this property is ever declared surplus. the water department at that time repeatedly stated that it needs this property known as the north basin and will never declare it surplus, and that is one of the reasons that the college long relied on the p.u.c.-owned residencervoir lon it designed the performing arts center. it took the p.u.c. at their word, and that is the lower reservoir lot today, where the construction is being planned. also, the proposed sale of the balboa residencer vary is relatively controversial because of the less than fair market selling price of $16 a square foot in san francisco. the land should be sold for a price of at least 90% of the appraiser's. that

shery: coming up, bernstein algorithmic gives us their playbook for the remainder of 2020.sh. the market opens in china, next. this is bloomberg. ♪ tom: it is not :00 a.m. in beijing, welcome to "bloomberg markets: china open/ ." inglis, we areid counting down to the opening of trade, our top stories, the u.s. and the u.k. can't at more action on china, mike pompeo says washington is in for a long struggle with beijing. tom:

. >> there is another book about the case by david bernstein, rehabilitating lochner.'m a big fan of this book. david does talk about the anti immigrant drive, particularly anti germans who are very much distrusted and there's a lot of anti german dissed trust meant. there is also the anti irish sentiment, but they were not usually in the bakery business. and also the anti jewish sentiment. mostly the jews in germans were doing most of the baking in new york. however having said that, and agreeing with the colors and paul about small bakeshops implementations of health and safety laws, they were still uniformly upheld because they were actually health and safety laws. those laws were consistent with the approach to the due process clause. >> let's meet next one of those german bakers who is affected by this law that was passed by the assembly of new york. and that is joseph lochner, we are going to hear story from his great grandson. >> his bakery probably wasn't a target for the bake shop act passed by the new york state legislation. but it was certainly impacted by i

move into podcasting as you see up 80% this year despite, again, that downgrade this morning from bernsteineah, sort of offsets what goldman said on june 25th. while there are considerable risks to the podcast strategy, david. we believe the optionality leaves the risk reward in a favorable position they went from 205 to 280. there's a really fascinating debate right now regarding podcasts and this binary outcome of whether the rewards come, as you say, with time >> yeah. and, you know, it is an investment, but they're being rewarded for it. the stock had not done much for some time. a direct listing back in the day. long-time cfo left and it has been straight up for that name in media not much else i do notice shares of disney are up this morning. morgan, they continue to focus on an open for the parks in orlando that is coming soon despite the new records that are set every day in florida or almost new records of new cases of the virus disney perhaps going to continue to forge ahead there but a lot of questions about that. >> yeah. definitely disney and apple do seem to be the blue chip p