for example, here‘s kevin david who just moved into for example, here‘s kevin david whojust moved intopers are actually making. you can have a massive business without ever going to china. right? i have certainly sent millions of dollars to china and gotten millions and millions of products from china, and i‘ve never been there. air pods, some of my friends have stores doing hundreds of thousands of dollars a month selling those stops someone will spend thousands of millions, however much it costs to create it and china will reverse engineer it. some sharp drop shippers will ta ke some sharp drop shippers will take advantage of that and create massive, massive incomes by leveraging those trends and being able to offer those really exclusive high end products for much cheaper. it‘s very easy to take the moral high road but i think of a lot of people had the skill set and caught a trend at a certain time and were making $1000 profit a day or $10,000 profit a day, i think they would probably think slightly differently about that circumstance. so differently about that circumstance. 50 we

for example, here's kevin david, whojust moved into his pretty sweet new apartment in miami, and he gavee insane amount of money that drop shippers are actually making. you can have a massive business without ever going to china. right? like, i've personally sent millions of dollars to china, i've, you know, gotten millions and millions of dollars‘ worth of products. i've never been to china. those airpods i've actually seen. some of my friends have stores doing hundreds of thousands of dollars a month selling those, right? someone will spend hundreds of millions, however much money it costs to create it, and then china will essentially reverse engineer it. some sharp drop shippers take advantage of that and they create massive, massive incomes by leveraging those trends. so we contacted loads of drop shippers, and even chatted to quite a few of them. and there was one thing that really stood out amongst them all. they're just like you and me. some of them even work out of their bedroom. but the difference is, they're making huge sums of money. so fast forward, i grabbed one of the produ

for example, here's kevin david, who just moved into his pretty sweet new apartment in miami, and he insane amount of money that drop shippers are actually making. you can have a massive business without ever going to china. right? like, i've personally sent millions of dollars to china, i've, you know, gotten millions and millions of dollars‘ worth of products. i've never been to china. those airpods, i've actually seen... some of my friends have stores doing hundreds of thousands of dollars a month selling those, right? someone will spend hundreds of millions, however much money it costs to create it, and then china will essentially reverse engineer it. some sharp drop shippers take advantage of that and they create massive, massive incomes by leveraging those trends. so we contacted loads of drop shippers, and even chatted to quite a few of them. and there was one thing that really stood out amongst them all. they're just like you and me. some of them even work out of their bedroom. but the difference is, they're making huge sums of money. i grabbed one of the products that took m

for example, here's kevin david, who just moved into his pretty sweet new apartment in miami, and heshippers are actually making. you can have a massive business without ever going to china. right? like, i've personally sent millions of dollars to china, i've, you know, gotten millions and millions of dollars' worth of products. i've never been to china. those airpods i've actually seen. some of my friends have stores doing hundreds of thousands of dollars a month selling those, right? someone will spend hundreds of millions, however much money it costs to create it, and then china will essentially reverse engineer it. some sharp drop shippers take advantage of that and they create massive, massive incomes by leveraging those trends. so we contacted loads of drop shippers, and even chatted to quite a few of them. and there was one thing that really stood out amongst them all. they're just like you and me. some of them even work out of their bedroom. but the difference is, they're making huge sums of money. so fast forward, i grabbed one of the products that took me to, it was a super

david: thank you so much to kevin cirilli. please stay with us. l have our final thoughts coming up next. this is bloomberg. ♪ david: welcome back to special coverage of the republican national convention. we are going to wrap up with a few closing thoughts. i want to start with rick davis. rick: i thought that vice president pence, his speech was a combination of the first two days of the convention where they really focused on shoring up their base. tentsresident is a big christian conservative. they wanted to nail them down tonight. where they are going to get the extra votes is not being addressed. they are affirming their base up. i would expect that would give him some help. david: sets up president for tomorrow night. what did you think? jeanne: i thought vice president pence and the first lady both addressed the covid pandemic and the impact on the american public in a way we have not heard. i'm curious as we look forward to tomorrow night as to how the president handles it. it is the biggest drain on him in the polls. it is the number one

david westin switches gears on monday with kevin cirilli and others.he republican convention monday night, tonight like p.m. -- monday night, 10:00 p.m. a little bit of a rick davis lift to the markets this morning. -25 on futures, now -18, so a little better. we will set you up for your weekend reading into september. matthew horn back -- matthew horn bok -- matthew hornbach, morgan stanley, as well. this is bloomberg. ♪ tom: good morning. simulcastsurveillance on bloomberg radio and bluebird television. , lisa abramowicz, tom keene. out, ilisa abramowicz is lost track of where jonathan ferro is. somewhere on a sabbatical. we have francine lacqua with us. part of that was to save her from the tension at the lacqua house. dow futures down. your children are apoplectic about the a-level scandals of the united kingdom. this is a major deal, back-to-school, some schools are virtual, some schools are trying to go back as well. do you go into weekend with your kids going to college calm? are about 10kids years too young to care about a-level results, but th

david westin's leadership on a virtual convention. he will be doing a virtual "balance of power" today, led by a virtual kevin cirilli as well. you and your team decided to approach this most original convention? david: first of all, it is virtual leadership on my part, i think it is fair to say. we don't know what to expect, so we have to be able to swing in various directions. but what we want to do is really try to do themes. the democratic party themes. we have our own themes, starting off by what what i biden president mean -- what would a biden presidency mean for markets and for business. tom: you have an intimate knowledge of these datagrams states. acquaintanceodding with pennsylvania, but you know milwaukee. you know michigan up down and sideways. what do we get wrong in the media about our simplistic coverage of those states? david: well, take michigan. we have congresswoman debbie dingell on today. but michigan is not one state. they voted for george wallace in 1968. you have the southeast, the areas around detroit, very urban. the rest of the state is very different. it is a much more nuanced situation. the same

he's already the reigning most valuable player, and he joins michael jordan, kevin garnet, and davidobinson as players who in their careers have not only won the mvp award, but the defensive player of the year, as well. >>> back to the days of yore. i don't know if it was ever normal, but sure seemed a lot more normal than this. it's time for this day if sports, brought to you by joe fonzi. >> there have been 303 no- hitters in major league history. august 25th is a rare no hitter day inspect 1952, virgil trucks of detroit threw his second no- hitter of the season. in 1967, the twins dean chance did one better. on this day, chance threw his second no-hitter in the month. that's this day in sports, august 25th. i'm joe fonzi. >> wow. two in one month. like i say, back to the days of yore. hey, in this day and age, boy, determination is something we all need a lot of bus and we can learn a lot of determination from kids. check this out. >> i guess when you first don't succeed, try and try again. it took 10-year-old fae ebert of toronto, california, a few tries before she finally sticks

tom: i would suggest, and this is off of the work of kevin cirilli and david westin's coverage, it is pivoting moment by moment. that moment last night with senator paul of kentucky, a constant on the street of washington, i've seen it played about every 42 seconds on fox news this morning mind you would expect to see that come up at this law & order debate really harkens back to what we saw in the late 1960's and early 1970's. the other thing that i think is so important is the reaction to the powell speech. as you mentioned, and i don't underplay it, andrew bailey at 9:00. what is fascinating if you don't have the media assembled at jackson hole to ask tough questions. lisa: and there are many of them, such as, what more tools tos the fed have to deploy make an implement rates lower? -- make unemployment rates lower? at this point, what can they do to increase inflation? tom: that's a really sophisticated question, and we have 12 seconds to answer it. [laughter] lisa: go ahead. tom: what i want to do here, let's look at ellen's and their right -- at ellen's and -- at now, aentner ri

kevin accept cirilli will work 15 hours a day. our chief washington correspondent here with prospective on those voices we heard last night. our convention coverage, 9:00 to 11:00 tonight with davidestin and kevin cirilli participating. the theme to me right now is a negative vote. not so much, i want to vote for trump, i want to vote for biden. but i will not vote for trump, i will not vote for biden. tell me about the dynamics of the negative vote when the two soirees are over. kevin: i think tonight, joe biden is going to speak to those individuals, especially in the republican party, who are apprehensive of president trump, but didn't show up for hillary clinton 2016. he's going to be looking at ,arts of the country like ohio southwestern pennsylvania. these are the parts of the country he really needs to address if he wants to make inroads, and to defeat president trump and the electoral college, not just in the popular vote. tom: that is part of the culture wars. is this election about culture wars, or about policy? kevin: first and foremost, i think as we have been reporting, the democrats and senior members of the democratic presidential nominee's campaign would like to m

for example, here's kevin david, whojust moved into his pretty sweet new apartment in miami, and he gave shippers are actually making. you can have a massive business without ever going to china. right? like, i've personally sent millions of dollars to china, i've, you know, gotten millions and millions of dollars‘ worth of products. i've never been to china. those airpods i've actually seen. some of my friends have stores doing hundreds of thousands of dollars a month selling those, right? someone will spend hundreds of millions, however much money it costs to create it, and then china will essentially reverse engineer it. some sharp drop shippers take advantage of that and they create massive, massive incomes by leveraging those trends. so we contacted loads of drop shippers, and even chatted to quite a few of them. and there was one thing that really stood out amongst them all. they're just like you and me. some of them even work out of their bedroom. but the difference is, they're making huge sums of money. so fast forward, i grabbed one of the products that took me to, it was a supe

david westin and kevin cirilli with our coverage.onight, i believe that 10:00 p.m., with continued coverage. right now we want to see someone not so much in the trenches, but steep in policy and the changes in this nation. smikle has a phd out of columbia, but he's one of the people that actually does. ,ots of people have a cable tv the hot air of politics, but others are out there doing it. he's within the chart of -- he's within the charter school system in harlem. you are all about the doing. tell our viewers how the biden-harris team will do when they are elected. basil: that is the open question that i think yesterday did a little bit to answer. there was a lot of conversation about joe biden's character, empathy. what they tried to get across is that joe biden is going to be this empathetic, concerned leader that cares about everybody. that cares about folks across race, ethnicity, class, and of course, political party, in stark contrast to how others, particularly michelle obama, described the incumbent president, donald trump

david and kevin thank you very much. we are closing out another monster week for the market.w and s&p 500, nasdaq of more than 2% but their sector, we still have, not everything is rocking, the sectors that you need to consider for your portfolio we will get them so you can take action before the close. we'll be right back. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. charles: hey, folks, you know that saying a december to remember? well, how about an august to cherish? now, i know it doesn't rhyme but this month has been absolutely amazing. major indices are surging, economic data continues to defy the experts and non-experts and my next guest says that many parts of the economic data sug

david: former fbi attorney kevin clinesmith will be sentenced september 10th for doctoring a documentsurveillance of former trump campaign advisor carter page. the charge he faces a maximum of five years in prison but reports say it is unlikely he will serve that much, if any jail time. it is the first criminal case to come from u.s. attorney john durham's investigation into the origins of the trump-russia probe but many democrats still refuse to admit there was any wrongdoing under the obama administration. here is illinois senator dick durbin speaking to this point on fox news this morning. >> when it comes to spying on the trump campaign, here is what it boiled down to the intelligence agencies were in fact monitoring conversations of the russian ambassador to the united states and when that ambassador engaged with general kelly they picked up on the conversation. there is the spying. it had nothing to do with focusing on kelly. they were focusing on kislyak, the ambassador. when they went into conversations about lifting sanctions on russia, that is when the intelligence agency pi

look for david westin, balance of power and of course kevin cirilli. we are going to focus on conversations around what you are going to be at unique virtual conventions. saw is you will be shocked over how short the speeches are this year. this is a really interesting experiment. idea how it's going to turn out. i remember governor clinton's speech of arkansas decades ago. mario cuomo's speech of decades ago which stomped this nation in its tracks. you're going to be seeing one minute, two minute, maybe five minute speeches. vice president biden speaks later in the week. the markets yield asset management, thank you so much for looking at this recovery from march in the equity markets as compared to 1998 that august. and also even back to december of 1987. was it a correction? was it a bear market? what was it we just lived through? >> i believe it was a correction in the bull market which started in 2009. you could make an argument that that bull market died on its 11th anniversary. extremelyt of that quickly with very similar leadership. certainly p

david westin providing leadership with kevin cirilli and others as well. a fascinating -- it is fascinating where this leads out , one year, two years, what elements we will see sustained. it'll be something to see how they get through wednesday and onto thursday. , does the democratic convention have any buzz in the zeitgeist of london? they do not come through a great deal, in honesty, to the person on the street. we care very much about the format and how that is going down because we work in the media and we pour fort through the details and what kind of excitement -- i have heard it reported on in mainstream media in the u.k. a lot of focus on the personal story of joe biden and how that was told by jill biden yesterday. that seems to be coming through in the u.k. that may be has not been told very much before. thank you forrds, helping us with the market check. of lisahe sum abramowicz and jonathan ferro. let me do a data check. red and green on the screen. nasdaq a little bit red. fractionally higher. spx up two points. i am rounding up. some enthus

kevin: that is exactly where my mind went, david.re is speculation about who the next state would be, whether it would be saudi arabia or another state. we don't know. david: it is fascinating. it is a big event. whether one is public -- republican or democrat, to have a third arab nation normalize with israel. it has been 25 years since jordan. we are about to hear from mike pompeo and recorded arcs from jerusalem -- report that recorded remarks -- recorded remarks from jerusalem. >> i have a big job that susan's 's dad. and nick their freedom is more secure because president trump put his america first vision into action. it may not have made him popular, but it has worked. president trump understand what president eisenhower said, for all that we cherish and justly desire ourselves and children, the securing of peace is the first requisite. indeed, the primary constitutional unction of the government is injuring her family and mine are safe and enjoy the freedom to live, work, learn and worship as they choose. delivering on this d

david: thank you to kevin cirilli. we have been seeing joe biden and dr. jill biden, his wife actually in a classroom where you will hear from her later on. she is a teacher, a doctorate in education. we will hear from her later on. adam, i want to come back to you. one of the really interesting questions i see emerging right now is this a different approach to the economy? certainly, bernie sanders thinks it is. at the same time, some people would like to portray joe biden as pretty much a moderate. do we know what we are getting from joe biden when it comes to managing the economy? adam: i think we do. i think it is going to be further left in a frankly constructive way than some of the obama policies were but i think it is going to stop far short of bernie sanders or aoc. i think it is important to keep a perspective on this. there are a lot of economies in the world, including very free-market allies of the u.s. like the united kingdom, australia, canada, as well as places like south korea, japan and especially germany and -- and northern europe. way a

david: thank you for being with us. kevin cirilli, our chief washington correspondent. we want to bring back in rick davis and jeannie dano. harrisave kamala about the,. on the things that struck me was this contrast between the barack obama today and the one in 2004. it is such a different venue. he has such a different man in many ways. jeanne: i do not think we have seen him that emotional. at some point, he looked like he might be tearing up. very emotional, a very passionate plea to democrats to get out and vote in 76 days. if we are wondering who was watching, one person we know who is watching as the president because he is tweeting in all caps about barack obama's speech. he is clearly watching. it is impacting the president, who is questioning what barack obama and joe biden are doing. talking to his millions of supporters on twitter. it has been quite a back-and-forth. as you mentioned, not common for a former president test -- president to talk so strongly about his successor. david: i would love your perspective on this because i think a lot of what we have

kevin cirilli, thank you much. our chief washington correspondent. coverage tonight, we have david westin at 9:00 p.m. getting started. an important speech by the president of the united states. .ater on "balance of power," m westin slips in his chair just time for lunch. commerce secretary wilbur ross at the 12 noon hour. this is bloomberg. good morning. ♪ tom: bloomberg surveillance, good morning. what an odd day. i'm tom keene in new york. the powell speech, the republican national convention, this horrific hurricane in louisiana. thank you to brian sullivan and thank you to rob and carolyn for their very careful coverage of the storm just below shreveport right now. right now, we turn to the markets and it is easy to do with been lately or who has been absolutely lights out on the bold nature -- bold nature -- bull nature of this market. ben, reaffirmed the level of bullishness that you are right now because you can get very nuanced in your research note. ben: listen, i think all the risks remain to the upside. and i think this market is much better supported than some people think. it has been sh

david westin with our coverage there on the convention, and of course, kevin cirilli through the days well. i really can't say enough about how we are approaching this at 10:00 p.m. with topics that are a little bit different then you will see other places. robert tipp will join us with pgim. we need to talk about the real yields out there. we do that with the 10-year in just a basis point. the real yield -- i miss the show, "the real yield." i miss it a lot. this is bloomberg. ♪ hike! simon pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. but what if you could stdo better than that?k. like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and

david: that's a powerful point. kevin will be with us throughout the evening. for more on what we can expect from president trump, let's ring in -- bring in our white house reporter. >> based off of expert -- excerpts from earlier, we expect president to hit joe biden pretty hard on china and immigration. we expect him to paint joe biden as a vessel of the radical wing of the democrat party. the president will paint himself as a defender of traditional american values. david: thank you. we will be coming back to you later. rick, what are you expecting from the president tonight? what does he need to do or want to do? >> first, he will do a victory lap. he will say i kept my promise is. i cut taxes. i changed regulation. i built a border wall. he's going to rip through that stuff because after all, in his mind, he has kept his promises to his voters. then, i think he is going to take a good shot at joe biden. i think he is going to try to capture this theme we have seen all week that joe biden is the liberal left of the democratic party. he can't even speak his

promised land, but if we let everybody go, david, if we let everybody close, you can't just restart it there's no switch. there's just the end the question is like kevin o'leary said, is that okay is it okay to ends, david? >> i'm not quite sure i follow exactly what you're saying. >> you can't start a business after you stop it. >> the point is you have to keep it going >> yeah, you owe too much. how much forbearance are you going to get >> the point being we need more government aid to continue to allow businesses to stay open in some fashion >> we need rent money. when i think they're going to let it go, i think would fdr let it go? was that fdr's plan? look at the jobless claims aren't they more fdr like than, say, johnson like or w like? >> they are the worst we've s n seen -- there's a big gap between 1 trillion you said yesterday you think we're going to get there, at least in terms of $400 i believe i heard you say that. >> senator mcconnell who we'll have in a few minutes, carl, is saying -- he's open to a 600 you're absolutely right, carl, the main thing is to deliver no senator will come on here and say, i don't have the votes. geez, maybe

david: we have a long way to go before november. many thanks to kevin cirilli. now we want to turn to the jobs numbers we got up earlier today we found out we added about 1,763,000 jobs, more than have been expected. we stopped long way to go. to take us through the significant of those figures we welcome simona mocuta. thank you for being with us. give us your take. it seems like half-full, half-empty. toter-than-expected, nothing sneeze at, but at the same time we are still really in the whole. simona: we are, indeed. your right to say it is glass half-full and half-empty. this particular month was better-than-expected and we were positive to consensus. we became close to our main expectations. we have only retraced 40% of the job losses we incurred earlier this year. it is a long way to the finish line and the challenge is not that you have a long way to go, but we are not lecture whether we can go forward or whether the next month will show a decline given the cases and some partial pullback on reopening efforts. point, one of the concerns economists had goi

david: thank you so much. it is our chief washington correspondent kevin cirilli who will be here with us every night this weekwe want to turn to a very distinctive voice and the republican party throughout its career. that is judd gregg, having served as governor of new hampshire and then representing his state as u.s. senator and chairman of the budget committee. thank you so much for being with us. you have not always agree with president trump, but what you think president trump's legacy for the republican party will be, and i ask that whether he wins or loses in november? is a good question. i do not think anybody knows yet. anyway, i wrote a piece, you mentioned i write sometimes for newspapers, it said honey i shrunk the party, and he has. , youvery practical matter saw the democratic convention that a lot of people who were substantive and thoughtful republican leaders over the years were endorsing joe biden. clearly whenhand, you compare what trump stands for and what the democratic party stands for now, you have somebody who at least understands the concept of a market economy, versus a party that is

really important, from jack fitzpatrick or kevin cirilli, how crowds look at the polls, with less certitude than many in the media. how coverage continues. david westin leading our coverage tonight, 10:00 p.m., the republican national convention. the first lady is scheduled to speak. this is bloomberg. good morning. futures up 12. ♪ tom: good morning, everyone. "bloomberg surveillance." tom keene in new york, anna edwards in for francine lacqua in london. i am guilty and anna is guilty, too, of big cap buy ins. this is an area we don't look enough at. david, let's do a quick look back, and i mean quick. why is small-cap, and mid-cap underperforming since 2016? david: simply, they have not had the same kind of free cash flow margins that large companies have had. people sought safety in large-cap stocks, but calm roughly since may, yusor a slight move to small caps. tom: you could clearly see that in the -- do you get a sense that mid-cap, small-cap, that there is a digital dominance to take advantage of? david: i do. i believe that. at the same time, save some dollars for the consumer part of the economy. i think that is still going to be very

ceo,hired dan american's kevin mayer to lead the company but i don't know if that will do anything here. you have political forces that overwhelm. david his hands fall. thank you. -- his hands full. thank you. the president is looking for ways to hit back at beijing. the coronavirus has become a political hot potato. this is balance of power on bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. for bloomberg first word news, we go to karina mitchell. states can still beat the coronavirus pandemic, according to the world health topnization's epidemiologist. she says americans should follow the guidelines including wear masks, social distancing, and staying home when asked to do so. advisers, white house and democrats are resuming those talks on a new stimulus package. negotiations become increasingly urgent this week. millions of jobless americans benefit lost their $600 , and the senate is expected to leave on friday. mark meadows says he is not optimistic about a quick resolution. as it could cost millions picks up speed and strength. the storm will sweep through t

david: i have not seen that moment i have to say. thanks so much for kevin cirilli.ef washington correspondent. coming up, we talk with former treasury secretary larry summers on how concerned wall street should be about a biden presidency. this is coverage of the democratic national convention on bloomberg television and radio. ♪ david: welcome back to special coverage of the democratic national convention. joe biden has already laid out an ambitious set of economic programs from clean energy to infrastructure and energy. alix steel is here on what a biden administration might mean for our taxes. alix: higher taxes and higher taxes for corporations. . here are some of the highlights. one, to raise corporate tax rates all the way to 28%. the big one is restoring the individual tax rate to almost 40%. what does it mean for wall street? i spoke to the ceo of talon and company. here is what he had to say. >> when you look at who is going to be in the white house, one of them is going to be another fiscal stimulus. we have to figure out a way to pay for it. i would say i

kevin cirilli, thank you so much. really informative, just encyclopedic knowledge there. there is a convention -- no, it is not tonight, the democrats. david westin leading our coverage on the republican convention. of course, one of the great distinctions here is i believe the president will be much more evident through each night of the convention. francine, this is so different than over in england, isn't it? francine: it certainly is because, first of all, if you look at our election campaigns, they are much shorter. the money is also a fraction of the price. in terms of the show and tell, it is a different kind of dynamic. in the u.s., it is much more about personality. it is interesting to have parallels between the two. tom: i wish we had some of the british attributes, but you are not going to get that with a pearl entry system. what you are going -- with a parliamentary system. what you are going to get on in for jonathan ferro and abramowitz, is francine lacqua. an ounce,936 painful for people like me who bought it at $2038. up next, liz ann sonders of charles schwab. thank you for joining us on bloomberg radio and bloomberg tele

. >> david, you make a really good point. at disney kevinayer was the dealmaker, he was really involved in shaping the transformation of disney with so many different major deals over the course of his time there, fox obviously being the biggest one. i think he went from being the leader of the deal talks at disney to being not the leader of the deal talks in this tiktok situation. so he may have been involved in the conversation the fact that he does have relationships with so many business leaders here in the u.s. is certainly a huge advantage for bytedance in those talks, but what i'm told is that he was not leading those talks and because ming, bytedance's coo did have a preexisting relationship with microsoft he was the one running those deal talks with microsoft and mayer was not. kevin mayer was not the one who got to make the decision about whether or not tiktok was going to be bought out by an investor group which would have been mar for beneficial for him and his potential role in the company. the fact that he was not the leader of

allowing the flooding of the market by some of our -- david: can't have negative future prices for oil like we did. that was a pretty wild moment. senator kevinramer, great to see you. thank you very much. >> good to be with you. thank you. david: back to your money, let's get a check on zillow, the online real estate site. lauren, they just reported a massive quarter, right? lauren: housing is booming. the stock up 14%. it will open at a record high for zillow. they said revenue grew 28% and they thanked favorable shifts in the housing market, the ceo crediting work from home. you can live anywhere. advancements in technology, think 3d home tours and affordability as three of the big reasons people are moving and will continue to move. zillow is even offering to buy people's homes directly. right now it has 440 in inventory across 24 markets. david: wow. lauren, thank you very much. there's nowhere to go but up for these urban households. >>> check futures. we are below triple digits. that is, we are trading better than triple digit loss that we saw before the jobs numbers came up. it did pop into positive territory after a very favorable jo

lisa murkowski, tom cole, kevin mccarthy and roy blunt who have even said, dissent it publicly, that this dismantling of the post office is not unacceptable. >> quickly, david have seen the president's attempt to talk down mail invoting have worked. we have a quick poll result to share. in may i think it was 50 percent of the american people said they believed that they would be comfortable mailing in their ballot. that percentage is down to 43 percent, a big drop, especially among republicans. so the president continues to talk it down and say he doesn't want to fund the postal service because it could mean universal voting. >> well, you know, with the trump administration you never know if it is incompetence or malevolence this this case the postal service is hemorrhaging money, and it is doing so because of the number of pieces of mail has gone down 33 percent in the last several years, and so it makes sense to sort of try to make the thing a viable operation, whether you wanted to cut some of these services right before a heavy election where people will be mailing in ballots strikes me as extremely foolish but not necessarily malevolence. i do think we

. >> jason, it's david faber, i'm not often on the show, so i don't get to listen to you you're all over the place. i mean, by the way, kevin, the ceo of tiktok probably looking for a new job right now. either he's getting shut down or bought by microsoft. that guy doesn't have a job. i wouldn't worry too much about him. but let me just come back to you on the young people thing, calling them all snowflakes. >> soft. >> you notice the protests that have been unprecedented around the country, and the fact that they have been populated largely by people under the age of 30 who seem to want to absolutely change things. i don't know where you're coming from. >> absolutely fantastic, that, the anti-racism protests occurred that is a good sign for this generation but the weak spot right now is that we are not investing in building great companies this generation does not believe in capitalism. they believe in socialism and we're up against a competitor. we're up against a competitor who believes in capitalism combined with communism. and by the way, that is going to roll over our version of capitalism it's going to roll over our

kevin cirilli. our special coverage, democratic convention, begins tonight at 10:00 p.m. new york time. that is it for me here. coming up now in the u.s., you have balance of power with david bloomberg radio. he will be speaking with tom steyer. a long day for him as well as we look forward to the democrat national convention. within markets you are seeing an s&p sitting right at that record close. tech continues to be the outperform or, up outperform her, up .7%. happy monday, everybody. this is bloomberg. ♪ from bloomberg world headquarters in new york to our tv and radio headquarters worldwide, i'm david westin. welcome to "balance of power," where the world of power meets the world of business. we will bring you the most important speeches from the democratic national convention, as well as key issues facing the party and the nation. tonight we will talk about health care the virus and jobs. we will be joined by former treasury secretary larry summers, and the architect of obamacare, jonathan gruber from harvard. right now we want to get a preview with somebody who will be with us through the entire coverage. --ber can your below political computer. give us a sense of

david lee miller, thank you. if former fbi lawyer pleading guilty wednesday to altering a document related to the secret surveillance of a former trump campaign advisor during the russian investigation. kevin kleinsmith is the first former official to be charged in the special justice department review of the investigation between russia and trump presidential campaign. he admitted he doctored an email used by the fbi as it sought fisa court approval to -- the punishment is ultimately up to the judge. let's get back to politics and get perspective on jovan and the democratic convention in the presidential race joining us now, frank. it frank, good to seal, this is obviously a race that the democs say about presidents and how is it shaping up and what does biden have to do tonight? >> is a standard for what works and what doesn't. back in 1984, they accepted the nomination then told voters was very candid about that. 2004 democratic convention, john kerry made the case for why george w. bush should not be president. he failed to make the case for himself. democrats have done so far is to attack. and they talk about joe biden's errors but what they have not done the first three nights of wha

david: we have been listening to senator tim scott of south carolina, the final speech of the evening at the republican national convention. i want to turn to kevinlli at the white house. a message of inclusion, opportunity and really taking on joe biden on his race record. kevin: it was an optimistic speech from the rising republican star senator tim scott of south carolina, where he spoke openly about inclusivity, particular making the case that conservative ideology could be a message of compassionate inclusivity. but beyond that -- and this was something where he spoke on autobiographical terms, on his childhood, his ascent into republican politics, but he also talked about another issue we heard frequently throughout the first night of the virtual republican national convention, and that was school choice. i am told by sources on the president's reelection campaign that school choice is something, particular with the backdrop of the pandemic and schools across the country grappling with reopening, is something republic want to draw a contrast on, and it might be, according to their internal polling, a key issue for suburban swing districts.