brian belsky, great to have you with us here thank you and welcome back. coming up, the day for chipmakers just got worse. bytesters with a plan to use 2020. why they are looking in-house for two chips next. from new york, this is bloomberg. ♪ >> you can see the nasdaq at the epicenter here, 3.4% losses right now. 2.9% breaking below the 200 day moving average. that is the snapshot and we are 20 minutes away. it is down below session lows. the privacy is heating up. >> spotify is becoming a public company but don't call it an ipo. -- ♪ typically, when a company goes public, management decide on a valuation embark on a marketing roadshow. they judge interest for potential shareholding. set ase the input to final price and a number of shares to be sold to investors. spotify is skipping that and being straight to the trading part. you sell the stocks to the public -- public market investors. companies rarely to the lifting. spotify's betting its reign over the streaming music market will get investors and's -- excited. the streaming giant was valued privately

belski andext, brian julian emanuel on a recovery day .ty market, and dow jones are up triple digits. other asset classes are broadly weaker dollar, selling on the margin and treasuries recovery and commodities. this is bloomberg. ♪ ♪ jonathan: from new york city, i'm jonathan ferro. 30 minutes to opening. this is the countdown to the open. ♪ coming up, a welcome to the second quarter with tech spreading and the s&p plunging. looking to calm global trade war, the white house is set to push for a nafta deal next week. tesla's production continue to leave musk on the floor. investors are waiting numbers. 30 minutes from the opening. equities, futures up 20 on the s&p. up a tense of 1%. other numbers -- 0.8%. 13.6% sales. estimate at 1.9%. the story elsewhere in the fx market and looking at the bond market. 10 year yields a little higher by three basis points at 276 on a tenure. the fx going