taylor: that is bloomberg's abigail doolittle. we are going to go to the chief washington correspondent, kevin cirilli. he is standing right at the white house with the landmark deal with israel and the uae. kevin: we are joined by jared kushner, lismore my the architects behind the q ae -- you ae -- he is one of the architects behind the uae-israel deal. jared: ofwas an honor to be a part such a breakthrough. it is the first agreement we have seen in the past 26 years. the last one was between israel and jordan in 1994. president trump's leadership outlined the vision for what he wants in the region between 2017 and today. the hard work of the last three and a half years brought this. i think this will change the paradigm. everyone knew what the problems were but nobody was able to find a solution. in andnt trump came reestablished alliances with israel and uae and egypt and serious, taking a very no-nonsense approach. president trump was able to make a breakthrough that nobody has been able to make for. kevin: the phones have be

vonnie: abigail doolittle, thank you for that. our stock of the hour.reminder that colleges are being hit badly in this downturn. let's take a quick look at the market before we move on to subjects. the s&p 500 still in the green, up a quarter of 1%. the dow jones down 1%. the nasdaq continuing to go higher, .6%. coming up, we will have a look at the potential nomination of christina freeland to take over bill morneau after a spat with the prime minister, according to people familiar with the matter. this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. where you can find games, news and highligh

abigail doolittle running us. -- joining us.pple has been one of the companies driving the rally and apple just notified some employees that they plan to reopen a number of retail scores by the end of august. walk us through the day. again, recognize. hopes about a fast tracking of the vaccine and treatment. abigail: lots of optimism. the s&p 500 up for a third day. while it is nice to think that it has some of the do with the fast tracking of the vaccine and plasma therapy, it is interesting that the only major nasdaqo close down, the biotech index. the nasdaq 100, the new york faang index. course if youof own that stock into the close today, you are eligible for the 4-1 split which will take place next monday. that does not create any value but it seems that it is somehow more attractive. certainly attractive, the fact that they plan to reopen some of the stores they had closed. also, let's remember that quarter they put up, really stellar, even though there is not an outlook. over the last five months, apple is a double. i sa

emily: abigail doolittle, thank you so much.alantirecap, officially filing to have a direct listing on the new york stock exchange under the listing pltr. of common3-4 classes stock. this is a company that is losing money. we will talk a little bit more about the ipo, going public pipeline a little bit later in the show. first, to salesforce. i want to bring in the ceo of groove, joining us to discuss salesforce results. your take away from the overall salesforce results? it is a company that has been benefiting in the midst of a pandemic as you see other companies scrambling to make the digital transformation necessary to survive in this world. chris: their earnings, they performed very well again. solid year-over-year growth. i think that is because they made this big transition to a highly diversified company that will do very well in this environment when many organizations are going through digital transformation and are looking to align with a vendor that is cloud first. salesforce's market cap is now bigger than oracle's.

abigail doolittle has been following all of the back and forth. let's start with zoom.bigail: they really delivered. the pressure was on. since the last quarter that they reported, the last -- the stock was already up 46% after huge gains. this is the ultimate stay-at-home stock as folks around the u.s. and around the world want to stay connected. after hours, up 9.3%. i think it may be up a little bit more even, perhaps poised for the best day since march 23. they put up a big quarter, beating estimates on the top and bottom line. also very encouraging, as you mentioned, growth not abating. third quarter forecast on the revenue side absolutely hire. it seems that this stay-at-home darling is set to stay that way. tomorrow, the stock could be up 400% on the year. these trends absolutely continuing for the pandemic. emily: meantime, apple soaring on the back of it stock. tesla as well after a five for one stock split. the rest of the market, fairly mixed. what was happening? abigail: this is the last week of august -- the last day of august. the day before labor day. mix

radel and doolittle well explained -- madeline doolittle will explain why. day rally on friday largely driven by those earnings that came in better than expected for the most part. microsoft is considering buying tictoc. that seemed to drive an extra leg at the end of the day friday. apple is at more than 3%, 3%ping the s -- up more than , helping the s&p 500. they confirmed the fact that we have this risk on rally. natural gas soaring up 16%. bank of america is bullish on natural gas. a good have to do with some of the hot weather we have in the u.s.. one economic data point that is important -- the ism manufacturing number came in this morning at 10:00 a.m.. it shows us the manufacturing part of the economy is expanding. it is not just strong earnings reports from last week but we have a positive piece of data. it will be interesting to see what the payrolls report rings on friday. david: -- brings on friday. are they? confident what does that tell us? >> the vx end, i am so glad you are bringing it up. indexes,he volatility both are higher, telling you so

target like i mentioned is up big on the numbers, but abigail doolittle joins us now. give us the highlights. abigail: investors are excited about this stock having its best day. expected, 24 than .3% versus 8.3%. the outlook is strong as you were mentioning. a lot of strength for target and it seems like folks are really stocking up through the pandemic. and they are also doing it from an online perspective. helping lows as well, -- lowe's a good, and they put out quarter as consumers were improving their homes. up 35% versus the estimate of 21% of the stock being rewarded. even with lowe's big-ticket items up 135%. down seven point 5%, and it seems like the treasure craze fading out of luck. investors are not positive on the idea that the current quarter could be difficult and they are bringing down supplies for halloween. there we have target's numbers. 11%, but digital is unbelievable up nearly 200% as americans are shopping from home. brian cornell is encouraged by the online and encouraged by a degree of the strength that they had in the store. we have a quote fr

radel and doolittle well explained -- madeline doolittle will explain why. largely driven by those earnings that came in better than expected for the most part. microsoft is considering buying tictoc. that seemed to drive an extra leg at the end of the day friday. apple is at more than 3%, 3%ping the s -- up more than , helping the s&p 500. they confirmed the fact that we have this risk on rally. natural gas soaring up 16%. bank of america is bullish on

amanda: thank you for that, abigail doolittle. pandemic a lot of change in the way that we think about the value, including many decades of u.s. dominance. erik schatzker spoke exclusively with a founder and ceo of light sky macro. ♪ in general, people are optimistic about the virus. q4,ill get a vaccine in let's move on. then when you look at the consequences, people have not made the linkage between the policymaking response is not necessarily linked to the actual outcome of the virus. catalyst thata allowed an extreme change in a short period of time, but it has now taken a life of its own. so even if the medical experts are correct, and even if the virus is not a major part of our lives over the following years, i still think these changes will be borne out and we are not going from a policy or social perspective or from a political perspective, back to where we were. for this to bear out, we don't need the virus to stay with us for an elongated amount of time. bolted and horse has it will be very hard to put in the box. it wi

greg: thank you for that, abigail doolittle.sident calling on the un security council to renew sanctions against iran, to force them back to the negotiation table. key allies say they will not go along with a plan to reimpose sanctions. for more, we bring in bill faries. where are we at at this hour? this is a fast-moving story. bill: mike pompeo is heading to the united nations today. he will hand a letter over to the u.n. secretary general ofling for this snapback sanctions on iran. basically that starts a 30-day clock or the un security council to take up this debate. they will most certainly reject the u.s. proposal and try to get the iranian nuclear deal extended as it is. that will probably get vetoed. then we enter uncharted territory. the u.s. claims that will essentially kill off that 2015 nuclear deal. every other member of that agreement, including america's european allies, say that america does not have that standing. essentially we have two upcoming deadlines. then a-day period, and 13-year-old arms embargo on iran

turn to abigail doolittle.t looks like we are on the rise of flirting with a new record, but if the same time you say it is a bit defensive. abigail: waiting for that record a few days now, and on an intraday basis including today, the s&p 500 briefly above the record closing high level, but we're still not able to get there. investors want to see if we can push forward. you mentioned the fact that we have technology, and that is this year's defense, the big tech companies along with amazon come alphabet, facebook, which are technically communication companies, at least facebook and alphabet. those are on the rise today. the cyclical sectors are dropping. banks, of that, the warren buffett, berkshire hathaway and the second quarter really pared back on the financials. ony entered gold, so bearish gold, something warren buffett is known for having avoided in the past. there is ats defensive position. the s&p 500 near its all-time high, not paying much attention. you could make the case too far, too fast. it took

caroline: abigail doolittle, we thank you.w york, this is bloomberg. ♪ caroline: the pandemic is causing an unprecedented childcare cross -- crisis in the night states. as daycare shut their doors, parents are left to figure out how to do their jobs with their kids literally underfoot. bank of america says it has a plan to help its employees. joining us is the head of hr at the bank. talk to us about what you are extending. it caught my eye, the amount you are giving your workers at the moment to try and find some sort of balance. thank you for having me. just like you said, as we go through this health crisis, we are trying to ensure we don't have a childcare crisis and our employees need support so they can serve our customers and clients everyday. a millionovided over days of care so far, accounting for more than 100 million dollars in reimbursements to our employees. that program was scheduled to end on august 15. so starting next week, we made the decision under brian's leadership to extend to eligible employees, daily ch

david: thank you so much abigail doolittle for that report.next we talked to ohio congresswoman joyce beatty about the democratic national convention and kamala harris. this is bloomberg. ♪ ♪ this is "balance of power" on bloomberg television and radio. tonight is my three of the democratic convention and we will hear from senator kamala harris. to talk about that, we welcome back to bloomberg, the congresswoman from ohio, joyce beatty. thank you for coming back. tell us what you know of kamala harris and what you think of discrimination. let me say, thank you for having me on your show. i am as excited as i am sure being ourbout kamala vice president to candidate and we will hear from her tonight. i know her. i served in congress, she served in the senate. she is a member of the congressional black caucus. i have traveled with her on john lewis's funeral. i can tell you that she is strong, smart, strategic. if i were vice president pence, i would not want to be debating hard. she has lived a life of success. she has done things against the od

abigail doolittle, thank you so much.ontinuing on this theme of chinese social media apps and their parent companies, tiktok now says they plan to sue the trump administration. with us now is stewart baker. a former assistant secretary for policy at the department of homeland security. first of all, what do you make 's claims, saying they could sue the president as soon as tomorrow. is it actually unconstitutional or is this well within the president's power? stewart: it is certainly within his statutory power. anyone can argue that they have binge -- they have been treated unfairly. all that is really required under the executive order is a determination that tiktok is from an adversary nation and is posing a risk to the national security of the united states or to the security of americans. tiktok has had a lot of problems handling data. it is subject to chinese law to a degree that makes it kind of hard for them to argue that none of those things were irrelevant. i am guessing that that lawsuit will make a lot of noise

emily: bloomberg's abigail doolittle, thank you so much. i want to talk a little more about the extreme weather facing the united states. are tracking hurricane laura, which is in the gulf of mexico. it was upgraded to a category four hurricane. places like dow list in a long big texas -- places like galves ton along the texas coast is not looking so lucky. thatst got some headlines 3000 national guard troops have been destroyed -- deployed in louisiana. winds could hit 150 miles per hour. when is this expected to make landfall? >> it will make landfall after midnight, local time. and probably 4:00 or 5:00 in the morning. it depends on its forward speed. it has slowed down as a continues to build in strength. it is really outperforming were folks thought it would be yesterday. emily: what is the expected path at this point, and how strong will it get? then: it will go right up border of louisiana and texas. the winds could reach 150 miles per hour, which is just below category 5 strength. category 5 starts run 157, i believe. around 150 sev

thanks to abigail doolittle for that report on the market.will continue the -- libbyion because cantrill of pimco will be joining us to give us her sense of what that means for the economy and for washington. this is "balance of power" on bloomberg television and radio. ♪ ♪ this is "balance of power" on bloomberg television and radio. i am david westin. last week we were told that the stimulus package was imminent. but now it does not appear we will get anything this week or maybe in september. to take us through all of this is libby cantrill, head of public policy at pimco. what is going on because we thought we would have it for sure. i don't think they are talking right now, they? libby: good afternoon, david. they are not necessarily talking. there was some optimism last week that maybe some of this was just posturing and we will get a deal by this week. obviously, that does not look likely at this point. however, the framework for a there is moreand agreement than disagreement on some of the big items. but the big sticking point is the s

abigail doolittle is talking about tesla, the stock of the hour.gail: it closed above $200 per share for the first time ever yesterday, and over the last eight trading days, up 50%, this since they announced a five for one stock split for investors wanting in. they beat delivery estimates. another momentum stop that put up a strong quarter was apple. we have tesla actually beating apple since the four 41 split, up 27% relative to the 50% from tesla. so, folks want in on these momentum stocks. as we go into the terminal, we can see that the higher stock prices we have seen recently have not been leading to more splits. there are only five this year, tesla and apple, old dominion, as well as brookfield management and one other, pretty interesting. so what is leading to tessa's stock split is probably the incredible run and has had this year. take a look at this, out of the march lows, this is actually a one year chart, up 842%. it is incredible, especially considering around one year ago the company was questioning whether or not they had sustainable

louisiana romeo is a tour guide the venetian spaded district is dr doolittle with its traditional craftspeople i could see a saudi around the c.c.s. the hour or so we are here we are getting to the place where 2 ladies are running a square and that for the 1st time in the history. of the family run square or both giant tomalin is an institution around a quarter of all the bundles and then is with those here these days they only repaired the vessel. after their father died 2 years ago the pair of sisters took over the running the business now in assists generation. in the future they hope to share their knowledge with tourists. with corey we can review the tours in venice i think the right way is the culture because venice not only from a square react a bridge or there's a lot of knowledge in venice so we love to work here we love to learn and also we love to welcome people who want to know this work. louisville is one of them she supports dorothy an initiative by local residents businesspeople and artisans to maintain the existing infrastructure and promote another kind of tourism. venice is n

abigail doolittle has the story. abigail: shares are up 7%.his stock is up more than 100% this year, more than 170% off of the march lows, and it is a $300 billion cap company. analysts are excited ahead of the report on wednesday. white we have nvidia, in blue, the average price targets. so, the stock is above the abovee price target, 17% 420 three dollars, which suggest maybe the market is a little frothy. work in have analysts conjunction along these lines, similars it suggests conversations have been had, but it seems like analyst are using this stay-at-home idea. most of their revenue comes from gaming. if the percent of their chips come from gaming. 27% is the data center. a lot of pressure for them to in some automated areas. similar to some tech companies this year, i should say, this is the top performance this year. docusign was up more than 200% this year. nvidia up by 170%. that is matched by zoom. the nasdaq 100, not too shabby, but up 60% barely makes it. it is a pretty amazing context we have seen from these companies, begging t

here is abigail doolittle.il: you do have the solid push to european indexes, but beneath the surface is much bigger movers. galapagos absolutely plunging, the worst day since 2011 after the fda ejected their arthritis drug, investors clearly not liking it. rwe, the german utility stock, also lower after they sold shares to fund their -- renewables. investors not liking that. love tom's that has settled with the pout -- lufthansa has settled with the powerful pilots union. delta saying they will add flights to china. there is a bitly of an airline rally. maersk -- the stop being rewarded for that. one of the top -- one of the top performer sector wise, food and beverages. a piece of this might be a u.k. government program helping out diners and particularly food service workers. this is the open table reservations booth in the u.s. and the u.k.. in white we are looking at global and in blue we are looking at the u.k.. the program and u.k. government to help dining started in the beginning of august. they went f

abigail doolittle has been following the market overs. disney and activision as well.hat are the theme this you are pulling out here? abigail: the bulls are just out. nasdaq 100 for the on tech strength. bonds slightly higher as well. that points to the uncertain d, will a deal get done? down into this quarter about 20% year on the year. they just reported what some are calling a doomsday quarter. however, it is not as bad as feared. a big piece of it, those subscriber and streaming numbers. a modest miss, but right in the ballpark. million more than 100 streaming subscribers. the fact that it is less bad, you have that stock up. a good quarteron but not quite enough. the engine and team -- the management team was talking about economic uncertainty clouding the near future. emily: we have been waiting for "mulan" to come out in theaters. that has been delayed a couple of times. it will be out in some theaters but also they will release it streaming for $29.99. abigail: match group and beyondmeat are moving in the opposite direction they are still going in the direction

abigail doolittle with the stock of the hour. ahead, hitting the target, how the retailer surpassed expectations and its history. of thethe latest peer-to-peer conversations. the secretary of the smithsonian's additions -- smithsonian institution beard the first to story to oversee the world's largest museum. that is tonight at 9:00 p.m. eastern. this is bloomberg. ♪ ♪ this is "bloomberg markets." target shooters skyrocketing today. up 12%. the fastest sales growth ever. is matthewnow mcclintock. it is only now that the stimulus checks are going away. there were plenty going out in this quarter. target tohave held the disadvantage of coming ?uarters matthew: thanks for having me on the show. i think stimulus played a part of it. when we see the core competitors like jcpenney and macy's and strength at target, it means there is something more than stimulus. they gave us numbers or same-store sales growth for the months throughout the quarter. decelerate but they still remain double digits in august. we believe it is widely because

we have abigail doolittle joining us. abigail: the etf of the hour, gold and gld trading down in sympathy. after some of the froth comes out of the precious metal arc it, showing in terms of the holdings, which have declined for the fifth day. down, after huge rally good this is the first down for gold going back to june. gold had been up so much, 20% out of the june lows. this week, investors taking chips off of the table and taking money out of gold. it is also silver, sometimes called poor man's gold. gold last year had a huge run-up, it's best year since 2010. it has been playing catch-up. 130%, point, 150%, now far outpacing gold. .his week, silver down about 7% investors wanting out of precious metals. hedgealk about this as a against inflation. you could also see on liquidity. as far as miners, we have gold being outpaced by minors. minors --out 24%, but 28%, but minors are far more. that speaks to the degree of fraud in this market. you have retail investors going for where they think there will appreciation and t

joining us is abigail doolittle. i do not see a lot of movement.on of tomorrow's jobs numbers? abigail: you are probably correct. wait and see mode ahead of the jobs report. there is a huge variance between the high estimate of about 48 -- added, 3.2 million jobs let's hope that happens, and the low, a loss of 600,000 jobs. folks are in wait and see mode ahead of that report. we have stopped shuffling along, wanting to also note when will the fiscal stimulus deal happen? we have the s&p 500 and the nasdaq up just slightly. where we have more action is for some of the tech stocks. apple is once again higher, up 1.4%.

abigail doolittle, thank you for that update. joining us to talk more about oracle as a potential suitor for ,iktok is kristin martin professor of technology ethics at notre dame. for joining us. as abigail mentioned, oracle is a -- focused company. it does not take -- make sense to take on a consumer company like tiktok. what do you make of this potential bid of oracle as the owner of tiktok's assets? prof. martin: tiktok has two places to get value. one would be consumer facing integration and i think amazon announced being able to integrate a voice command to get tiktok users to open up tiktok. you could imagine microsoft using it as a way to having consumers more easily use the products. the other side, which may be what oracle was looking at, was the consumer data. the thing that made the trump administration concerned about tiktok was all the information that tiktok and other apps have on us with our location and preferences. who we are talking to and what we are talking about. oracle does have an at tech business. tech bus

romaine: time for smart charts with abigail doolittle. we look at timely topics.looking at the record highs on the stocks. incredible.lly joining us is the chief technical strategist at macro wrist advisors -- it is incredible, stocks going, going beyond belief of everyone. you think trend is our friend. >> i do. i believe the trend is our friend. so long as the broader markets hold on to their trend support of the 50 day moving averages, we need to give markets the benefit of the doubt. abigail: and what is below the 50 day moving average, do you think we could see a selloff for pullback? john: it is only about 5% pull off between here and the 50 day. that would be normal for a full bull market. if we stop working on 50, which it hasn't on underneath, if i remember quickly -- correctly back in april, yeah. it is a buying opportunity. abigail: let's look at the multilayered chart that is making many cases for why you think stocks will continue higher even off of this 50% rally from the march lows. john: the first charge that i have shows, i think it is a breadthsu

romaine: we go from business flash to the smart with abigail doolittle where we look at the timely topicsat the only two things that matter, stocks and digital goals. abigail: we are looking at stocks and goals. we are talking with stott -- todd. it is been a while you and your family are safe and well. and relative the markets, all about these bank stocks. you say that is likely to continue, but you are worried about the s&p 500 index. talk to us about your broader market thoughts. apple, microsoft, they are the best in the market. right? we don't want to fight that. but importantly, for durability in the market to continue to the back half of the year and next year, we want to gauge what participation is and you want to watch the small-cap stocks, the equally waited s&p, and so far, we give it a passing grade. they are not keeping pace on a relative basis, but they have not broken down yet either. you don't want to get too bearish while they are hanging in there. today was a good day for them. as long as that is the case, we are in good shape, police heading into the next six to 10 mont

lisa: thank you so much, abigail doolittle. meanwhile, let's turn to mark cuban.ld david rubenstein about the investment opportunities in tech amid the pandemic and the latest episode of the david rubenstein show, he'd appear -- conversation. >> you have a big investment business and you have said probably your gigantic investor in netflix and amazon and other companies and you have advisors that help advise you or you make your own decisions? mark: i make my own decisions. i used to trade a lot. i used to be very active as a traitor. -- trader. in the 90's and early 2000 there was a lot less money chasing more stocks and now there is a lot more money chasing fewer stock so i just stick to the companies i believe in. 50.ned netflix since i was i actually bought some more amazon in the high thousands. i have some scattered things beyond that that i have owned over the years that i've held onto. i no longer trade. fo is strong. h is strong. >> covid has change the world. it has people but it has helped people entrepreneurial. you said it is a good time to figure out

i want to bring it abigail doolittle. i want to start with uber, engagement down 44%.hat is the measure of how many passengers they are transporting. what they made in food delivery did not make up for what they lost. abigail: it is an interesting quarter because they beat the estimates but revenues fell for the first time ever. as you were just mentioning, their primary business of ridesharing just not really there. i see get all the time in new york, there are much fewer driven cars out there. they demand simply is not there. who knows, maybe at least here we will see a little bit of a pickup. but it's interesting to see that food did better than ridesharing. it shows you that these companies are trying to adapt to the pandemic. t-mobile put up a big quarter. they beat estimates. they added more than one million subscribers. you were mentioning apple. nasdaq simplyy keeps climbing. up seven days in a row now. record high after record high. it will be interesting to see of course what tomorrow brings. dayst make it to eight especially after that all-important jobs rep

for that we will go to abigail doolittle.ew points away, but i have been saying this for a few days. abigail: it seems like we are stalling near the record highs is considered to be an important level of resistance where the sellers step in. in february that was a big moment where they stepped in. the buyer is having a hard time overtaking that level, especially right now the s&p up slightly and the dow down slightly. this is the rotation into the stalled. sectors the tech index, e

it is time for smart charts with abigail doolittle. abigail: thanks so much.ng us today is the chief market strategist at stock charts.com. great to have you with us. briefly, the s&p 500 had exceeded its record closing high. then retreated slightly below, even though we do not have a stimulus deal and there is lots of uncertainty. what do you think more broadly for the markets? will this rally continue? david: so many people are focused on the key s&p 3400 level. if you zoom out on the chart looking at the long-term history of the markets, that level looms large. i think what would satisfy youyone is your -- as if are long-term bullish or bearish, the best thing is a bit of a pullback. not a little more, which would give enough of a pullback to reset and reevaluate where we are at. trend wouldhe continue and it would appreciate better. it would be more attractive with a bit of a pullback. if you are bearish, you would like to see that first leg downwards. what is not surprise me is brent has remained very positive. almost two thirds of s&p names are above the

joining us, abigail doolittle, who has been watching the back-and-forth of the day. no records today. but what were the main drivers? abigail: everybody waiting for that potential record for the s&p 500. stocks really climbing this wall of worry. the s&p 500 hitting this area of resistance. the polls fallen short of being able to take out those old levels. s&p 500 up about euro .3%. nasdaq once again closing at a record high, up 1.1%, really being helped out by some of those mega cap tech stocks. china, so muchs, for investors to worry about. they are going again toward this year's defense of technology. the vix down a little bit today but still relatively elevated. couldxperts say that we see some sort of pullback after this huge rally out of the march lows. if we go into the bloomberg terminal, some are wondering whether it is too far, too fast. the top panel of this chart, valuation on the s&p 500. it is super stretch. 27 times forward pe. exactly where we were in the tech bubble, supporting perhaps the idea of too far, too fast. fed liquidity helping out the econ

here's abigail doolittle. abigail: today's movers had a sector theme. the worst sector for the stoxx 600 today and the worst stock for the stoxx 600 is also a bank, an investment firm, eq tp rate they put up a big report. 31% earnings report. they plan to load up on esg or sustainable debt using a $2.7 billion subscription. apparently investors do not like that. those shares plunging 14.5%. -- m&g advisory shares cut to a whole. standard life is down. the yield situation not helping that sector. as for another down sector, materials being weighed on by some of the miners. copper down for a second day in a row. that is weighing on the biggest european mining companies, and in particular, i hope i do ok antofagasta down to a sell by deutsche bank. saying shares trading at an unjustifiable premium. in the stoxx 600, one sector is up, real estate by 2.2%, being the commercial residential real estate company shares. results much stronger than estimated. they also announced they are operating -- they're offering a convertible operator for holders of certain b

for that we will go to abigail doolittle. we are just a few points away, but i have been saying this for a few days. abigail: it seems like we are stalling near the record highs is considered to be an important level of resistance where the sellers step in. in february that was a big moment where they stepped in. the buyer is having a hard time overtaking that level, especially right now the s&p up slightly and the dow down slightly. this is the rotation into the stalled. sectors the tech index, the nasdaq index, and the new york faang index climbing sharply higher. in the month of august, the cyclicals are leading the way on the year. it is all about tax. -- it is all about tech. interesting to see how the month of august plays out. right now a sleepy summer day. taylor: it does not look like it will be sleepily for much longer. august goes quickly. it is a volatile month. we are in an election year. abigail: it is interesting because there are lots of reasons to think we could have a volatility spike, including the fact we

. >> the doctor doolittle of delaware, laura. when he always talks about that shotgun he has come at the shotgun. i believe, i'm a hunter and i have a shotgun. he can't even blessed that shotgun to clear the geese out. while you were out this week, raymond, biden's mental acuity was questioned. i can't believe it. question by an african-american cbs journalist during a virtual event. >> have you taken a cognitive -- >> no i haven't taken the test. why the hill would i take a test? come on, man! that is like saying you before you got on the program, you took a test for taking cocaine, what do you think, are you a junkie? if you can't figure out the difference between an elephant and a lion come i don't know what the hell you are talking about. i'm so forward to looking to have an opportunity to sit with the president or stand with the present and debate. i shouldn't say that. i'm going to say something i probably shouldn't say. anyway, i am very willing to let the american public judge my physical mental -- my physical as well as

joining us is abigail doolittle. i do not see a lot of movement. is this in anticipation of tomorrow's jobs numbers? abigail: you are probably correct. wait and see mode ahead of the jobs report. there is a huge variance between the high estimate of about 48 -- added, 3.2 million jobs let's hope that happens, and the low, a loss of 600,000 jobs. folks are in wait and see mode ahead of that report. we have stopped shuffling along, wanting to also note when will the fiscal stimulus deal happen? we have the s&p 500 and the nasdaq up just slightly. where we have more action is for some of the tech stocks. apple is once again higher, up 1.4%. taking a break yesterday, but we have apple climbing again. investors want in on this defensive and growthy tech stop. facebook up 4.7% after facebook and twitter both blocked president trump, a video on covid misinformation. facebook getting a bounce on that considering they had not taken a strong action in the past, something some investors wanted to see. making it interesting, when we take a look at the vix on t

abigail doolittle joins us. abigail: it has everything to do with the cloud.ay is a cloud-based company having to do with human capital, financial management and the like. they put up an impressive quarter. a piece of debt topline growth, they put up more than 20% topline growth despite the pandemic or perhaps being helped by the pandemic. while we are looking at a sequential decline, it is impressive they were able to put up double digit growth for the quarter. relative to the pandemic, it is not just software doing great during the pandemic, other industries are also doing well. on top we have hardware and in terms of that performance, much of that has to do with apple. nearly double and apple off of their march low. we also have consumer durables, auto transportation, retailers, and transportation and software. over the last five months, software is up 66%. workday a piece of that with today being the best day since march 2016. if we hopped into the bloomberg terminal, analysts, not surprisingly, are very encouraged on the report. typically you see a gap be

joining us now to discuss the market moves, abigail doolittle, how has been covering all the ups andowns for us. today, a was mostly up. sort of a perfect storm of events. last week, we had decreed earnings reports from apple, amazon, and facebook. we also had strong manufacturing data in the form of the ism manufacturing number. at the end of the day, the s&p 500 up. the nasdaq carving out another record high of 1.4%. apple and microsoft, those were the big winners. also, biotech. againste for a vaccine the virus. not everyone is buying into this rally. but there you have it in terms of the big winners on the day. over the last two days, it is incredible. 15%rabolic spike of bound -- of about 15% for apple. valuations, high. that is something to keep in mind of. on the way up, that is generally not being looked at too closely. microsoft, that tiktok news. today, microsoft soaring on at once again. amazon and alphabet not participating in today's rally. lower lastd been friday on somewhat of a mixed quarter. net-it, big tech is in charge. these are the companies that seem to be doing

here is abigail doolittle. abigail: it is friday, not monday, happy friday. have some m&a news. akbar and intercontinental, it is thought they may have a potential merger. strong feeling it could happen. you can see both of the shares popping sharply higher. if they were to combine it would be the world's largest hotel group and would combine accor's european strength with intercontinental's north american and chinese strength. stay tuned for further details. you are talking about pmi's. the euro zone pmi now back above 50. if we go to the bloomberg terminal we will see the auto sector has been under such pressure over last year. while it is starting to move in the right direction from the march lows, it has not caught up to the pmi. as a result, this could be one reason the dax had its worst day while at the lows it was on pace for the worst day in three weeks on big weakness out of a lot of the automakers, including bmw and daimler. folk still waiting for that auto recovery, whether or not it does. pandemic, people not traveling as much. let's stay focused

david: that is abigail doolittle reporting on the markets and how they might be affected by joe bidensidency. coming up, u.s. relations with iraq on the heels of a meeting at the white house between the iraqi minister and president trump. we will be joined by brigadier general retired mark kimmitt coming up next on balance of power on bloomberg television and radio. ♪ experience the ultimate sports hub. where you can find games, news and highlights. all in one place, right on your tv. the xfinity sports zone. use your voice to search every stat and score. follow the teams you love. and, even get notifications with breaking news alerts and more. with the xfinity sports zone everybody wins. now that's simple, easy, awesome. say xfinity sports zone into your voice remote today. yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your servi

abigail doolittle has been following the back-and-forth. markets turned sharply lower at the close.bigail: we have seen a little bit of a risk on reaction to the harris.ment of the s&p 500 futures down about 0.9%. funds also a little bit lower. a little bit of a risk on move on that announcement. on the day, not that much. 100 down for the third day in a row. theical sectors such as financials. apple down about 3%. factore isi, flagging the that there could be a slump. another piece of it. silver, the futures have reopened on the day. for the day that just was down 15% for spot silver. the worst day since 2008. ,he connection to technology too far, too fast. you would not think these are risk assets. what i would say gold, silver, and apple have in common, they are fed liquidity assets. silver up 150%. they chart in a very similar manner. this suggests something similar could be ahead for apple. even though the fundamentals are great, perhaps a little bit ahead of itself. emily: i know you will be watching how the markets are digesting this news. there was some pessimism, senator mi

taylor: joining us is abigail doolittle. we are getting high

abigail doolittle is with us.n the back of a big speech by joe biden last night that has been largely well-received, even some republicans saying it was successful. abigail: indeed. probably not too much influence in the markets today because earlier today on the open, really small moves. it was as the day got going that the gains continued, especially for the tech stocks on the day. a real head scratcher because we have a they were we do not have any positive macro data on economic front, and we also don't have any negative data relative to the macro either except for the further out uncertainty around the election and u.s. and china relations. here we have the big tech stocks you were talking about once again climbing to the nasdaq 100 and faang index both at record highs. the faang index now up 115% since its march low. apple is just incredible, up more than 5% today. split does notck create value. interesting to see investors jumping on this stock ahead of that event for sure. nvidia making up for some lost gr

abigail doolittle joins us to give a closer look.bigail: those investors are probably pretty happy because going into the stock split, the stock really climbed in a significant way. up 30%. 5% of that happening on the day. because the stock split doesn't create value, leon cooperman put it really well, if you take a five dollar bill and you have one five dollar bill as opposed to the five dollar bill, do you have more money? no, you have the same amount. there was some thought that there could be sell the event. that's not the case. apple continues higher. a psychological effect. folks want in on the world's largest publicly traded company. as for prior splits and what happens for apple, and month later and year later, generally it has been positive. the first split in 1987 month later, their stock was higher. that was true too in 2005 for a year later and when he 14 for a year later. the one noticeable outlier was into thousand. -- was in 2000. apple technically is very overextended. they put up a great june quarter. they did not pr

to "balance of legal right to abigail doolittle.this value from growth rotation is underway. are we seeing a little of that this morning? abigail: the truth of the matter is we are looking at a slow simmer friday. not a lot of action. a lot of investors have checked out on the beach maybe. not a lot of movement. we have a little bit of cyclicalm toward the sectors, industrials, energy, financials among the top sectors. that is showing with the dow and s&p 500 up a little bit. the nasdaq is down a little bit. there is a bit of a bit of play going on we had the 10 year down, bonds rallying. the yen rallying

washington nationals pitcher sean doolittle putting it this convey. >> if there aren't sports is because people aren't wearing masks, the response so politicized. sports are the reward of a functional society. >> in the middle of a pandemic, in the middle of a recession, shutting down sports is a sign the government is failing. it's the last thing an incumbent president wants less than three months to election day. i want to talk now with the president of the sports and leisure research group john last. you've been doing interesting polling in a number of industries including sports and sports fans. so maybe you can put this into context for us. you actually asked football fans if they would be more upset by the cancellation of the season, or the loss of their presidential pick? and i think this really puts maybe where americans p s priors are. half more upset about football. what did you find? >> amazing. very much reflective of a lot of the economists perspective we see across a number of issues readed with sports and other leisure activities. our barometer done every other week and as

emily: bloomberg's abigail doolittle, thank you so much for giving us that update. more on apple. make in-app pay and purchases from epic, which means they don't have to give apple the controversial cut. apple has yanked the parent company of fortnite from the app store. th in return. what is apple saying and what is epic saying? >> thank you for having me. apple said they removed the application because they purposely violated apple guidelines. they put out a statement saying they have remotely updated fortnite, obviously one of the most popular games in the world, to allow people to pay fortnite directly, saving them from giving the 30% cut to apple. says we will not allow you to publicly make fun of us and circumvent the app store rules, so you are god. 15 minutes after apple did this, epic announced it is suing apple. epic baited apple into removing the app so they had additional means to sue them. this is not a great situation for apple. this is a real boiling point amid the antitrust scrutiny, and it took a company like epic to stand up to apple, given its sheer size and wea

doolittle," did something happen?> even though there were no eyewitnesses to belinda temple's murder, arguably there were ear witnesses. >> i heard like this big boom, like "boom." >> what did you think the boom was at first? >> a fire cracker. >> and then what did you think? >> gunshot. >> with law enforcement, they picked the spot in the movie where they heard this noise, and that time was around 4:35. >> why was that key for you, that they heard this noise at about 4:35? >> if they heard a gunshot at , 354:david waat >> surveillance video actually captures david across town, nowhere near his house at a grocery store. then there's one more video at 5:14 at a home depot. so we have these two surveillance videos where david is captured throughout the afternoon on camera. it's an airtight alibi. so investigators are now starting to think, who else could it be? and boom. literally the boy next door is brought to their attention. >> i sent a letter to the prosecutor and said, look, i'm hearing a lot of rumors. you need t