companies like microsoft and apple, they grew into the giants of today. david: john, you don't shed any tears over the loss of old manufacturing jobs. if we have tax cuts and as mike said, the tax cuts are designed to go after incentives, to incentivize people to start new companies, we might see a whole new industry is created as a result of this, no? >> well, of course we will and it probably won't be manufacturing and who cares? if it were about job creation, we were just abolish the tractor. if you lower the penalties on work and investment, you'll see all sorts of new industries created that we've never imagined. that is what is growth is about, not going back to the jobs of the past. david: e-mack, we never saw the computer revolution coming back in the '70s. >> that's true. david, what he is happening is a change in town. remember the demoralizer in chief. david: talking president obama? >> correct. last summer said those manufacturing jobs, they're not coming back. guess what? they're starting to come back. why? because you have a new administratio

and a surge from technology titans like microsoft and facebook and apple. joining us, adena friedman, you were named ceo in january. i know you had a lot to think about. how important is it that nasdaq reached 6,000? >> it's always fun to see a milestone within the index. but we have to make sure the investors have a full set of information to base their investments on. i think the nasdaq reaching 6,000 is a mile marker. but it's a reflection of where people think the administration can take this in the next several months or years. maria: the nasdaq has a big plate of services for listed companies, for non-listed companies, and you are selling that data. we all know trading has been weak. we saw the financial services numbers. you mentioned in your quarter. even though you reached new heights in terms of the quarterly numbers. what's going on with trading? >> it was been an interesting juxtaposition between the performance in the market but still a low volatility environment. so it's been interesting to see what's been driving the mark totes new heights. i

and listeners about your investment in uber. >> finally, you had an interesting column on what you called the frightful five tech companies. we call it fang, apple, microsoftfacebook, amazon. if you had to, which would you drop and in which order? what did you learn from this exercise? >> i learned a lot of people would drop facebook first. i am not sure whether to believe them. almost 60% said they would drop facebook first. i don't know if they are just saying that and they are completely addicted to instagram and facebook. google won for they would drop that last and google and apple and amazon were pretty close there. i can believe that. >> i would drop google first. it has the most analogs. there is something else i could use. probably the last one i would drop is apple. >> because you love your consumer products. >> yes, i use them every day. >> john is right that google has microsoft and apple as contemporaries. it is easy to give up google. when the majority of people saying, they would give up facebook, that's like lena dunham or rosie o'donnell say they are going to moving into to canada. completely fake news. >> microsoft, maybe. i could get ano

and then we'll talk about apple. because apple doesn't make it quite there for me. we tend to like microsoft and intel as our two kind of old school plays. they both pay nice dividends. and we don't think either one of those dividends is in any sort of trouble. so if that's what you're looking for, tech with a dividend, take a look at those two names. and i think apple's a big head scratcher. everybody's buying this company in anticipation of its next product releasement, which should be later this year. so that's the big question. do you feel like apple is going to produce this must-have phone that is going to drive all of these people there? i don't know. i can't tell you. >> all right. kim forrest, love the jean jacket. kim forrest. >> thank you. >> it's not just technology stocks that investors are buying up, but etfs as well. investors plowed on average more than $1 billion a day into exchange traded funds last month. and tell us about the trend continuing. >> for the etf business, april came in like a lion and out like a lion. etfs continued strong in april. roughly the same inflow we'

put more people on the project than apple did and did the early application software that used that mouse-graphics interface. and so, it was a huge win both for microsoft for apple when the macintosh became so successful. david: when your mother first said that i would like you to come and have dinner with me and warren buffett will be here and you should meet him, you didn't seem interested? why is that? bill: i thought he was -- not -- i thought he bought and sold securities. that is not curing disease or a cool piece of software. and the idea of looking at volume curves -- that is why it was so shocking when i met him. ♪ ♪ david: so your company grows, becomes successful. it becomes the most valuable company in the world at one point. at what point to you say, i have made a fair money and i don't need to do this anymore? i want to do something else with my life? bill: 1995 was the big year where we shipped the product, windows 95, and we always had the greatest staff at engineering, but we really emerged as the successful company. and so, i started thinking about wow, you know, there is a lot of value here at microsoft. what have other philanthropis

and the s&p 500, by about 80 basis points, down about 2.6% on the day. some of the biggest drags are the biggest tech names, including apple, microsoft, facebook, and amazonapple down more than 3%, its worst day in more than a year. that's the magnitude of the sentiment shift here. microsoft down in a big way. its worst since june of last year, since the time of the brexit. a big turn in sentiment. the reason this matters is that tech has been the best sector of the year. will this hold up? relative to apple, we can see that today's decline shows in that chart. that goes right to the heart of what's happening today and questions -- there is a shift in faith as to whether or not president trump will be able to put through some sort of tax reform. if not, apple could have a very difficult time, or may not repatriate that huge cash pile. this matters because apple is the biggest member waiting in both the s&p 500 and the nasdaq. and a 5% weighting in the dow. if this sentiment continues, it could really drag on the markets. emily: what about the chipmakers? their losses even bigger. abigail: being dragged down by lots of the usual suspects. texas instruments

at what has been going on with alphabetic come amazon, facebook, microsoft, and apple, $3 trillion of australia and half an hour. betty: what are we expecting for china's industrial output and retail sales numbers? we will get instant analysis , the chief economist looking at that. central banks as well as we see global tightening taking place. ♪ ♪ i am haidi lun. rishaad: i am rishaad salamat coming to from bloomberg's asian headquarters. this is "bloomberg markets: asia." ♪ haidi: cap the data and concerns about north korea. that missile launch seen as a direct challenge to washington and south korea. haidi:

and a surge from technology titans like microsoft and facebook and apple. joining us, adena friedman, you were named ceo in january. i know you had a lot to think about. how important is it that nasdaq reached 6,000? >> it's always fun to see a milestone within the index. but we have to make sure the investors have a full set of information to base their investments on. i think the nasdaq reaching 6,000 is a mile marker. but it's a reflection of where people think the administration can take this in the next several months or years. maria: the nasdaq has a big plate of services for listed companies, for non-listed companies, and you are selling that data. we all know trading has been weak. we saw the financial services numbers. you mentioned in your quarter. even though you reached new heights in terms of the quarterly numbers. what's going on with trading? >> it was been an interesting juxtaposition between the performance in the market but still a low volatility environment. so it's been interesting to see what's been driving the mark totes new heights. i

models and just, you know, if you ask me of the kind of the four horsemen of amazon, google, microsoft and apple you ask me which one was the most likely to jump 30% in its stock price over the next year or two or three, it is not apple neil: what is driving technology? i mean, i always think of this group, not to get weighed into politics here, but a group monolithically opposed to donald trump, certainly not a fan, it is this group but yet it seems to be the biggest sector beneficiary and election and post-inauguration. what is going on? >> i think that's true. in the first case it is the old marc andreessen statement of software eats the world or is eating the world and it certainly is. no matter hoyou slice it, more and more of our activities and more of our jobs and more of our stuff is being delivered in some softwarized sort of way. there is over all big, sort of return to technology companies, that is coming at them. and the more they're freed up, the more laws say fair our economy becomes -- laissez-faire your economy becomes more we're attuned to that. donald trump conflicting impulse

microsoft, apple, and yelp also made the list of companies with the highest paid interns.s xx and we're just getting started. breaking overnight. breaking overnight. a serious fire in maryland leaves a breaking overnight. a serious fire in maryland leaves a family displaced this morning. this happened just after midnight in rockville. firefighters tell us that two people were inside, but were able to escape unharmed. the cause of the fire is still under investigation. we have a crew on the way to the scene, and will bring you a live update a little later on. good morning washington. - another beautiful day; cooler showers saturday - cooler than average this weekend through next week today: mostly sunny. cooler and breezy. highs: 64-68 winds: nw 10-15 g 25+ tonight: partly cloudy. cool. lows: 43-52 winds: ne 5 mph thursday: partly becoming mostly cloudy. cool and breezy. highs: 65-70 winds: se 10-15 mph

and c.e.o. who has held executive positions at apple and microsoft. great to have you back on the show.llion $100 he going into tech mean for the landscape? how is this going to shake up the competition? >> we are an earlier stage investor. we usually manage funds in the hundreds of millions of dollars. we began investing in ai and related technologies four years ago. we are strong believers that the future of technology is great. ai is coming. we are looking forward to softbank being a later stage investor in some companies we and other venture capitalists like. emily: a lot of this is going towards ai investments. could it be too much? either enough opportunities -- are there enough opportunities for $100 billion? >> i think there certainly could be. they have already invested in a chinese company raising on the order of $5 billion to $10 billion. when you think about finding another 20 companies like that, the money will be used up before you know it. emily: where are the most competitive investments? >> the top technologies are still in the u.s. and canada. i think china is coming u

and up. notjust apple, but all the tax stocks, google, microsoft, netflix, and is on, the list is so long, theys so long, they a re really and is on, the list is so long, they are really dominating. —— netflix, and is on. —— amazon. any people are buying these stocks because they believe that president trump's policies will favour technology stocks. —— many people. why is that? his tax policies. it is effectively saying that company earnings or taxes will come down to very low levels, 15%, it gives a big boost to all american companies, but especially tax stocks. and seeing that he is not going to tax global income, right? —— say in. that was a big step. in a lot of his policies he has said these things, but they need to become law, so to speak. and he hasn't signed any executive orders about any of this yet. the other one, as well, he said he would try to encourage them to bring all that cash home. yes. in the case of apple that is a lot of money, $250 billion or more. if they brought that cash back it could help shareholders, they might give out special dividends. it is about americanjobs for

here are some companies lobbying and standing by the paris climate deal. microsoft, google, adidas, apple even big energy names have stood up and said, wait a minute, we've been at the table. we think we need to stay in it. maybe in part because it favors natural gas over coals and big energy companies make money on natural gas, but still a big decision for this president. for the opening bell watching maybe a little bit lower, 25% lower is what futures are showing right now. the front page headline is that tax reform talks have faltered. this is a white house and a republican dominated congress that hoped to repeal and replace obamacare and the wall street journal saying things have stalled here for now. that could be one reason why you have the stall on the market. guys? >> that august deadline i think the treasury secretary set is looking pretty close. we're going to take a quick break. we'll be right back. with e*trade's powerful trading tools, right at your fingertips, you have access to in-depth analysis, level 2 data, and a team of experienced traders ready to help you if you need

i'm wondering, if there's a repatriation all of those companies that are based there, microsoft and oracle and appleh cash overseas, i'm just wondering if any of that benefit the local communities in housing if it is allowed to be brought over at a lower tax rate. >> california continues to grow. it continues to be a dominant driver of the economy in the united states. legislative waves will go one way or the other. and we're going to see money being repatriated as part of a tax plan. we're going to see taxes be deductible or not as part of a tax plan and there are a lot of moving parts and california is going to remain strong. this is a pure play california strategy that we're very excited about. >> finally, as you now -- as a public currency are you going to use it to fund public developments? >> this whole capital raises goes for helping infrastructure and building improvements. none of it is paying anybody back. >> and you know as you think about the -- bill ackman did a long piece -- >> yes, we know about that. >> i know you do. but five point is a california version of exactly that strategy. a

technology for sure you are looking to buy on a pullback and i'm not talking about facebook and apple and microsoftlking about some names that have performed well like texas instruments. a name like teradyne. even lamb research. i think if there's a first place of opportunity, i think it is in technology and you don't have to look specifically towards the apples and the facebooks. i'm not saying don't own them, they're great to own, but there are other places. >> you're telling me to stay with what's working. >> let's ask if it's just specific to the stock, because cisco used to be the bellwether for infrastructure all things internet. huawei is doing better. as a result, it's finally taking its toll. my guess is cisco will have pressure on margins as a result of competition from chinese guys. that's what i think is happening. >> i think the walmart action is noteworthy. here's a stock -- >> a stock that was going to open lower but had a nice reversal and it's up 2.5%. >> and they're not waiting for a pullback because this is a clear and present breakout. this is a stock taking out levels it hasn't

what did help the nasdaq achievement records, a lot of the usual suspects including amazon and microsoft. apples report earnings after the bell. they will also be watching to see what the cash pile looks like. thoughts are that it will be a trillionquarter of dollars. facebook does report after the bell on wednesday. investors are looking for 45% growth on both the top and bottom line. so both of these stocks put in record highs today, has did amazon and microsoft. this is the story of not just the day, but the year. #7259.ake a look at on bottom in the orange and yellow, we have the s&p 500 and the dow, both of about 6% to 7%. the nasdaq 100 up about 16%. just massive outperformance on the year driven by technology. caroline: check out that. quite amazing. talk to us about the outperformance. of course that stands out, but what has been driving the market momentum? is it earnings optimism? >> it has been earnings optimism, and the idea that growth will continue. this is not just for true technology stocks. two stocks are consumer discretionary, netflix and tesla. both of these companies put in

and ceo. apple,executive posted microsoft, and google. we usually manage funds in the hundreds of millions of dollars. we began investing in ai four years ago. believers that the future of technology is great and the age of ai is coming. we are looking forward to softbank being a later stage investor in some the companies we and other venture capitalists a built-up. emily: a lot of this is supposedly going towards ai. good this be too much? are there enough opportunities out there to warrant $100 billion? >> there can be. deals like that have already invested in dd. they are raising $10 billion. if you think about finding another 20 companies like that, the money will be used up before you know it. emily: where the most competitive ai investments? >> they are still in the u.s. and canada. john is coming up strong because of the large market and the large base of ai knowledgeable people. top applications are written by chinese authors. china's large market will create a lot of data and ai is driven by data. china is coming on strong. i wou

we have amazon, facebook, microsoft, google and apple. is that a risk going forward? renick. let's begin with you. it's an easy story to tell. five stocks on the nasdaq. the conclusion is it's a problem. the history books tell us what? >> we have a story out about this today. has been more and more research and people questioning the idea of how rare it is to have this type of leadership. when stocks move the entire market is not necessarily a new thing. we did a similar type of research and looked at where the s&p 500 would the if you recalibrate the index. amazon., apple, basically what's happening is they are contributing quite a bit to the market. to be in stocks that do lead the market. historically this happens every year. the skewness that exists across the market is just a fact of market. for investors it is important. you also have to realize this is something you are going to have to deal with every year. acronym got alix steel so excited. thousands of dollars worth of terminals. the story with bread, a lot of people looking at something like the nasdaq and

some of the big, you know, financial horses in the technology world were like amazon and apple and facebook and microsoftme highs. we have business and economics professor, ben and lindsey bell here with us to step back and give young people on a tip of what to do. if i had a dime of every young person that said i'm looking at this and i want in. normally in the past, that's the time to get out. any time did youring there juncture, certainly since the president was elected, you've been richly rewarded to stick with this market. what do you tell people at this stage? >> it's a little scary for young people right now. it's up like 90%. everybody is saying it's an expensive market. i'm here to ease concern. i look at housing stats an consumer sentiment. these numbers typically decline 20 to 30% year on year before we head into a market recession. the treasury yield is ten pickly negative. we're nowhere near that. i feel good. but you have to pick your place. there's some areas that are more expensive than others. >> and a lot of thing i tell young people, the benefit, they're young. that i have time to make

and the discretionary sector. this is 25% customized of apple and microsoft.ividend rate, these are utilities on the telecom side. there is an underlying did, but at $1.54,an do is buy and you can make money on the upside or the downside. you are protecting yourself for a outside move. you are basically thinking it won't stay where it is right now, but you are, sort of, agnostic about which way it is going to go? kevin: exactly. this is a neutral strategy. the most you can lose is the $1.54. we see they will break out or break down, one way or another, and what is nice is you have the leadership. we saw a trainer come in today and actually by 10,000 contracts put.e july 21 55 that is interesting. someone is out there hedging. there is an underlying bid of people protecting themselves, but it is not moving it one way or the other. julie: consider is a high correlation between financials and the stock market overall, but there has been mostly sideways movement. eating we will not getting to see this, sort of, blah, environment? kevin: that is the point i am tryi

amazon is now the fourth—largest us company by market capitalisation, behind apple, google owner alphabet, and microsoftt the dollar late tuesday after a new poll found that british prime minister theresa may's conservative party risks falling short of an overall majority in next month's national election. previous opinion polls suggested the conservative party would increase their majority, which is currently 17 seats. let's check in with the financial markets now. despite those robust manufacturing figures from china it's been a bit of a lacklustre trading session for many indices in assia. that is all of the business news for now. much more to come. it's just eight days until british voters get to cast their ballots in the general election. as part of our election 2017 coverage we have been across the uk looking at the issues that matter. chris buckler has been in northern ireland. you will find dramatic beauty. all along the north coast of northern ireland. it is scenery that makes a fantastic setting. the series game of thrones uses this area as a filming location. some see in its stories of skimmi

and chevron have lobbied in recent weeks in favor of remaining in the pact. big energy likes the deal because it favors natural gas over coal. other companies like microsoft, applearbucks and google have expressed support for the paris agreement. a lot of people pointing to the u.s. refraining during g7 from supporting as the reason behind german chancellor angela merk merkel's comments over the weekend that europe may have to go at it alone and can't rely on some of its allies. >> i would say as well there's been fallout in the european press. typically slightly anti-trump, pro merkel, even the press which has been critical of merkel. she came out and said something rather undiplomatic. if it was just based on that environmental issue, perhaps she has been too strong with the rhetoric. but we don't know what was said behind closed doors. she said a landmark statement in terms of saying they can't rely on -- >> maybe she's trying to rally europe. maybe some of the leaders after g7 were feeling down on the part of lack of cohesion. >> i'm sure she trying to rally voters in japan. >>> housing and the consumer are in focus. april personal income and spending is out

we have the so-called big five we are watching, alphabet, amazon, apple, facebook, and microsoft. all of these touched a record yesterday with the exception of apple. combined market cap approaching $3 trillion. point $94 trillion at the moment as stocks continue to rise on the market breath has been generally brought it during the rally. retail in focus today as well. a mixed picture in retail. people talk about the death of retail also tend to note it is not monolithic. so you have consistent salon,ers like ulta which continues to kill it. 11%.ompany's cop sales up 71% surge in e-commerce sales. costco also performing well. comparable sales up 5%, better than estimated. big lots cop sales falling unexpectedly but companies earnings doing better than forecast. again, not all monolithic. gamestop dropping pretty steeply today, down 8%. it had a boost from the nintendo reported, --best i best buy reported, but it is not sure how long they can consistently depend on those numbers. of a new game dampening outlooks. monolithic, what a wonderful word. down for the day, down by 1/5 of 1%

. >>> marine le pen and cummins, apple, hewlett packard, microsoft and ya hue, all hitting index highsriving most of their revenue through their own intellectual property is up 25% on the year. for more, go to cnbc.com/iq100. >> we're back on the halftime report. dr. j, as always, tracking the options market for unusual activity. >> you're at the telestrator with mondoleze. >> indeed. it's down about 2 cents on the day now. people were scrambling in buying upside calls. that's a look at the stock. it's gone nowhere. but somebody places a pretty big bet today that's that that's about to change. look at the volume on this particular strike. out there in may, you've got nearly 6,000 trading. take a look at these days leading into this. almost nil was trading and all of a sudden you've got a very big bet being placed at an out of the moeven call. what did i do? i bought along with them. i'll probably be in there about a week, judge, they've got earnings coming right up. we've got several stocks with big earnings reports either tonight or tomorrow and i'm seeing big, speculative paper on se

an enormous amount of cash overseas, as do other tech companies, like apple and microsoft.ey can bring that back, they are going to use some of it for expansion through m&a, but a lot of that is going back to the shareholders. i think we will see that across the tech industry. emily: what sort of m&a are you expecting? glenn: more software. the ceo has made it pretty clear going to turn this company into a software company, hishis most recent -- and most recent acquisitions are indicative of that. it will be more software assets, for sure. potentially some storage, but there has been a lot of debate about that. emily: cisco did make a small acquisition called mind meld, meaning they are entering a very big battlefield of ai. what is the potential for cisco when it comes to artificial intelligence? glenn: every tech vendor on the planet wants to get in on the ai game, and for good reason. the algorithms and the technology that goes into these various things that people like to call artificial intelligence -- future,ings are the because it gives you the ability to make sense

and microsoft. doesn doesn't -- apple report earnings after the bell.y will also be watching to see what the cash pile looks like. it could be close to a quarter $20. facebook does report after the bell on wednesday. investors are looking for 45% growth on the top and bottom line. both stocks closing at record highs as did amazon and microsoft. this is the story of not just the date of the year. 7259.take a look at we have the s&p 500 and the dow both up about 6% to 7%. the nasdaq 100 up about 16%. massive outperformance on the year driven by technology. caroline: check out that. quite amazing. talk about the outperformance. that stands out. what has been driving the market momentum? is it earnings optimism? >> it has been and the idea that growth will continue. this is not just for true technology stocks. two stocks are consumer discretionary, netflix and tesla. both put in record highs today. paul says this has to do with dish's subscriber numbers weak. they are going to online streaming services. tesla one of the top performers on the nasdaq 100. elo

. >> hold down shift and press -- >> so there was a great disconnect between the ambitions of the apples and microsofts people trying to use these tngs for the first time. >> right now, if you buy a computer system and you want to solve one of your problems, we immediately throw a big problem right in the middle of you and your problem, which is learning how to use the computer. substantial problem to overcome. once you overcome that, it's a phenomenal tool. >> steve jobs thought that a computer should require no technical skill. he thought that it should be capable of generating artistic endeavors and not just number-crunching business things. >> is there anything you'd like to see? >> we'd love to have it in a book right now, you know, about this size, but that's technically impossible. >> steve's like, i want to make a friendly computer, a computer that comes from a different kind of place, that owes its inspiration to people who are thoughtful and creative and human and humane. >> this is an experimental office system of the xerox research center in palo alto, california. >> flowers, my anniversary

amazon is now the fourth—largest us company, behind apple, google and microsoft.red the engineer accused of stealing secrets from google's parent company alphabet after he failed to assist with an investigation. anthony levandowski, previously worked on self—driving car technology at waymo, owned by alphabet. he is accused of downloading 111,000 confidential files before leaving the company in 2016. uber denies it is using stolen technology. manchester united is the most valuable football club in europe, valued at $3.3 billion. according to figures from kpmg it puts it ahead of spanish giants real madrid and barcelona. the study looked at broadcasting rights, profitability, popularity, sporting potential and stadium ownership. in the study of 32 teams, english clubs dominate, filling six top ten places. if you're buttering your toes this morning or making your sandwiches, butter consumption is rising sharply. the cost rising 40% because wholesale prices are up more than 80%. that's because of global demand for butter. everybody loves the yellow stuff around the wo

when you think about the american dream, it is the best brand out there, it's stronger than apple and microsofte combined times 10x, the american dream is you come here, you believe in democracy and the constitution and that america you're -- >> you're able to use through machine learning to know more about them now of course they want to come here, but you know more about virtually everyone who's traveling than anybody? >> we call it the thr3m. mobile, messaging, we don't need to be on the phone at the same time, i can message you. you combine that with machine learning and we can perfect our services just for you, we can be the perfect travel agent for you, constantly driven by data and getting better and better every year. >> when i look a trevago or looking at home away, i should be interested that they're using this 3m mobile transactions. >> you look at the travel business as a whole. it's an enormous business. we account for about 5% of it. when you look at it that way, it's a huge, huge business. we have a classic online travel agency business, that puts in great growth day in and day o

and consumers being very quick to adopt the latest patches, whether it be an apple product, and google, microsoft. blockedou say you have 22 infection attempts how many didn't you catch? greg: we have a small number saying they had an infection. we are talking about a really small number, hundreds of thousands of enterprises runner product. we have some artificial intelligence in our product it figured it out and stop the all by themselves. that's a big step over the industry. we have situations where other vendors may have been defensive who had blocks for it that were not updated. that's how things got out of hand in europe. emily: that's the lesson learned. the u.s. was largely unaffected. greg primarily in our view because the researchers the done on this problem early and work it found a situation in this malware that would turn it off and make it go to dormant. that was put in place on friday night. by the time people got to the u.s., it was already sort of dealt with from a dormant point of view. it still might've been propagating, but not destroying the systems. emily: you expect spending

have grown in terms of market caps. >> yeah. >> so ten years ago exxonmobil, right now apple, microsoft, amazon andbet, those are the top four. i think facebook is number eight. it's totally transformed the economy and the market landscape. and i guess the question is, how long can they have this mantle? >> well, it's a good question. i think chad was right. if you're looking at short term also with vix being at historical low, if you're searching for a place to put your money, it's probably the best relative place to put your money but you have to wonder how long should you keep it there. if you're looking at a short run, a correction, a minor correction, a surprise politically could make this a scary bet. if you're looking at the five to seven years, i think what you're seeing is the continued dominance. the growth rate these companies are recording at scale is really not been seen in the s&p 500 before. these are companies whose businesses are growing 20% plus a year on average. in a couple of these cases. and some of the fastest growing entities within them are big companies in and of themselve

microsoft. the tech behemoth has announced the launch of its new surface brand of device, surface laptop. it is aimed at college students loyal to apple, andis a departure from the surface book. mark gurman got a peek at the new device. take a look. reporter: this is the new microsoft surface laptop. we got an exclusive sneak peek. this laptop can shake up the market with its $999 price point, and a blend of new technologies and cool look. it is lighter than the macbook air, coming in at 2.76 pounds. it's also draped in durable fabric that you normally find in high-end cars. there's even battery life that beats macbook air by a couple hours. >> we want to not worry about bringing a power cord with you. not worry about battery life at all. reporter: the surface laptop comes with a new operating system, windows 10s. the s also comes from the world of cars, a nod to luxury. windows 10s is optimized to the new device. microsoft says it will not go down the computer overtime and gets you to work quickly. >> if you are from a dead power down state you can turn it on , and feel it right away. reporter: while they have pro touch on the market with

and did the math for you. that's the equivalent of $96,000 a year. microsoft, $7,100. salesforce, $6,450. amazon and apple tie for fourth. ie don't know how those kids are getting by. we were talking earlier, i tell you right now, my first job in television, full time as a reporter in a small town in macon, was $12,500 a year. >> mine was $13,900. >> i was a little over $20, which means in a month and a half, big spender over here, in a month and a half, a facebook intern made what you made in an entire year the first year in the business. >> and we didn't get paid for an internship. >> and we liked it. >> and it served you well, clearly. >> up to $15,000 now, thank you very much. >> 6:16. could the 2024 olympics be in the city of angels. the olympic evaluation commission will be visiting los angeles for the next couple days, inspecting it for hosting credentials. the ioc president will give guidance in july on whether l.a. is worthy of hosting the 2024 olympic games. l.a.'s stiffest competition right now is in paris. you know, l.a. hosted the games when we were kids. you know, it was very cool. it would

amazon is now the fourth—largest us company, behind apple, google and microsoft.rent company alphabet after he failed to assist with an investigation. anthony levandowski, previously worked on self—driving car technology at waymo, owned by alphabet. he is accused of downloading 111,000 confidential files before leaving the company in 2016. uber denies it is using stolen technology. and manchester united is the most valuable football club in europe, valued at $3.3 billion. according to figures from kpmg it puts it ahead of spanish giants real madrid and barcelona. the study looked at broadcasting rights, profitability, popularity, sporting potential and stadium ownership. in the study of 32 teams, english clubs dominate, filling six of the top 10 places. that's all the business news. let's ta ke let's take a quick look at the markets. we saw a poll suggesting that the general election could potentially not lead to a huge majority for the conservatives and we saw the pound falling. it was down half a percent against the dollar. however, we saw another poll suggestin

and it's going to get even cooler tomorrow. the weather whiplash continues. we have a chance of scattered showers. an hour by hour look at that >>> microsoft takes a cue from apple making an announcements about the n microsoft promises to, quote, show the world what's next. what's that mean? well, we'll wait and see. unveiling set for later this month in shanghai. speculation is growing that it's a new tablet. >>> here's one way to avoid reaching for the phone while driving. put it in a phone prison. well, it's an idea from nissan. they came up with a special box, fits in the armrest, and once you've put the phone inside, it is a shield to block electric feels so the box prevents incoming and outgoing signals like blue tooth and wifi connections. it could be put in cars soon. >> interesting idea, all right. >>> the heat, but a memory for us, and a cooler weekend is on tap. i want to bring you a live look right now in the exploratory camera, pier 15, yeah, blue >>> it's cooler and how blue that sky is this morning. temperatures outside, running on the cool side. look at this, 50s, 60s, and some temperatures are cooler than the lows were. beautiful picture from th

and basically want to focus on this part of the screen. not surprising, we have apple, alphabet on here. microsofta record. 30,000e are about functions on the bloomberg and we always enjoy showing you our favorites on bloomberg television. maybe they will become your favorite. here is another function. q you i see go. here's a quick take from this week. >> everyone is listening to you now. you came by the tens of millions to be part of a historic movement the likes of which the world has never seen before. >> u.s. president donald trump's victory is part of a new wave of populism sweeping through the democracies of the world. what differentiates this from mainstream politia is that they anere present the will -- represent the will of the people as a whole. that allows them to dismiss any opposition to themselves or their policies as an attack of the popular will. modern populists often take this approach as they tap into the backlash against immigration and globalized economy that many voters feel is left them behind. here's the situation. , populism does not lean left or right for you and center.

and our good friends sending around a note today pointing out that five stocks are accounting for nearly half of the s&p 500's gains. apple, facebook, amazon, microsoft and google. s&p on the year is up 8%. if you take those five stocks out, the s&p is up only 4.5%. are we too top heavy? >> well, you know, i was told by someone else that isn't that unusual. there have been other times when you know, you take out some of the biggest techs that do, not just techs, any stocks that do well. you get a very different picture. they say if you take out like the ten or 15 best performances daily on the stock market, that overall returns go down 2 and 3%, so you could always pick those big winners. that being said, there are a lot of momentum players. in this market. you know, i've been in ak deem area for almost 50 years now. we used to talk b about fakctor, small stocks, value stocks. momentum is surging as a fok tor. there's a lot of players out there. they go with the trend. they have their stocks under those trends. if it falls off, they're off and i do think some stocks are perhaps subject to these momentum players that are riding the train and ready to

apple alphabet, microsoft amazon. the majority have beat on revenue and earnings.hat is the mean for the health of tech stocks, can they keep it up? joining me, tom, great to have you here. can tech stocks keep up with this optimism? tom: the optimism is real, the big changes happening in the ecosystem are these moves to the cloud. anytime you see 50% growth year over year in the u.s., large enterprises starting to move, that drives operating income and growth. emily: so it is worth it? tom: in the private markets we see a version, when you had me on the show 18 months ago, the private market valuation, the same company in the private markets was twice what it was in the public. that is no longer the case. emily: you talked about a spike in venture debt. why is that a trend? tomasz: one way is to raise equity dollars. they invest dollars to buy shares and that dilutes the company. we by 25% of the company. but there is a recent trend where companies borrow. it is happening more and more and growing faster than equity investment. that is because this kind of financi

and get apple rather than microsoft. >> [laughs] i use max. >> tucker: really quickly, is as a threatl, could this bring countries to its knees? >> ed code. how we dodge the bullet, it may just be pure luck. tucker, you have to realize how fast this thing spread. it did hit critical infrastructure, edited banks, to hospitals, hospitals and one of the ones that i worry about most. if they do an overdraft, they don't fall over. in a hospital, they could die from locking up records, patient medications. we are not out of the woods on this yet. >> tucker: morgan rice, thanks. >> you bet, tucker. >> tucker: venezuela has the largest reserves in the world yet people are starving. why? economics 101. up next, we'll talk to the socialist who says the failure of venezuela's economy shows the problem was not with socialism but with america's capitalism. then, michelle obama claims president trump canceled her school lunch program because he doesn't like children. more on that ahead. ♪ ♪ >> tucker: the american left is celebrating venezuela's socialist economic model for a long time and called f