david lebovitz of jp morgan asset-management is still with me.tern is it to be a company operating in china right now? it seems like a minefield. david: it is certainly pretty complicated. when we zoom out and take a 20,000 foot view about what's going on in the world, that you political conflicts broadly, whether it is china trade, brexit, lack of resolution in other parts of europe on fiscal deficits, all of this is creating so much uncertainty. as we were talking about on the last segment, the first knock on was a reduction in business confidence, a slowdown in investment spending and manufacturing. now that is branching out to the consumer, which is a big concern. alix: david lebovitz of jp morgan asset-management sticking with me. coming up, one of the best-performing stocks on the s&p 500 this year. coming up next, rick mcveigh. this is bloomberg. from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines.