tom: thank you so much, bob nardelli. great to catch up, the former chief executive officer of home depot. nardelli talked about wall street. i could go three hours with the former ceo of goldman sachs. we will talk to lloyd blankfein later this morning. this is bloomberg. ♪ francine: this is bloomberg surveillance. tom and francine from new york and london. tomorrow, fed chair jerome treasury secretary steve mnuchin will testify before the -- before congress. we expect them to hold steady on rates. the ecb publishes their account of the latest monetary policy on thursday. the annual gathering of the chinese legislature gets underway after induced delays. that is what we are expecting throughout the day. to our editorght in singapore to look at the markets and what they are looking for. coming with ages couple of the indices but in general, what are the markets looking at? is it central banks or treasuries or are they just following the number of infected? >> the biggest thing at the moment is the u.s.-china trade situati

what elon musk told him about pulling tesla out of california also ahead, former home depot ceo bob nardelli says we are in the middle of an economic tsunami and we are understating just how big the damage will be. later, check out shares of beyond meat soaring into today's session and one wall street firm sees a 25% rally ahead should you bite into this name we begin with the news that moved the markets, stat news pulling the coronavirus vaccine. the reports saying according to the vaccine experts, there's really no way to know how impressive or not the vaccine may be while moderna blitzed the media, it revealed very little information and most of what it did disclose were words, not data that report sent stocks tumbling look at the market reaction when the story hit just around 3:00 p.m. eastern time and it closed at the lows of the session and modern a of course, finishing the day sharply lower. guy adami, the hope rally was fueled by moderna. >> hi, mel >> here we have the decline in the markets because of moderna >> yeah. and it's disappointing, number one. and i'm not a clinical resear

coming up ceo of home depot and chrysler bob nardelli.fox news medical contributor michael -- nicole saphier on the constrain of coronavirus, would it get worse? next hour mayor giuliani discussing the reopening of new york city. pull -- paul hudson to talk about two medicines. in 8:00 a.m. hour this morning, senior adviser to president trump kevin hassett joining me. plus ceo steve mcmilan. gop leader on his plan and senator mcsally, she was with the president yesterday. firstlet -- first let's slip a commercial break. we are on it all morning. delta is thinning down cabin space. coming up this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. some because ourstop. communities need you. which is why we're working to keep you working. and ready to dig in. to help you keep your properties and towns maintained. your farm running. and construction moving. your work is essential. kubot

what elon musk told him about pulling tesla out of california also ahead, former home depot ceo bob nardellithe middle of an economic tsunami and we are understating just how big the damage will be. later, check out shares of beyond meat soaring into today's session an

remember nardelli and then they brought in frank and saved home depot from what people thought -- chrysler mortgage application numbers out just a few minutes ago offering a timely look at the housing market diana oleck joins us now with more >> reporter: yeah the housing numbers just keep outdoing themselves mortgage applications to purchase a home rose 9% last week compared with the previous week and were 9% higher than one week ago that was the sixth straight week of gains and 54% recovery since early april according to mortgage bankers association the purchase loan amount has increased and now at the highest level since mid-march. now buyers were helped binary record low mortgage rates. the average on the 30 year fixed increased to 3.42% from 3.41%. but that's an average and rates were even lower last friday. unexpected strong base for newly built homes. they rose 21%. now refi buying not as strong. those applications fell .2% for the week still 176%higher than the same week one year ago when interest rates were 91 basis points hire. the real news is those purchase ply cases, mortgage