we have not run tech companies. have learned from the people who do this to go out and do bloom.d let the flowers allow the ecosystem. the ecosystem for great talent, great community and technology, to have that talent pipeline, and have companies that can innovate, make mistakes. all of the companies you named before, they had mistakes. they had failures as well as successes. in then i worked virginia community, they have all of these small -- it is mostly small businesses, and it is the ecosystem you want to create. your tax system. your regulation system. regulation, more regulation, will make it harder to get further. people like steve case are going around lying to the rest. let's create that ecosystem without attacking these companies. , what aboutoman sarah miller's comment, that these large tech companies are prohibiting smaller entrepreneurs from entering the market? barbara: well, i do not see that, but there are companies, and if they come forward, there is antitrust law where they can look at it, and the

you don't no, you and i cannot run tech companies. i want to the people who know how to do this to go out and do this and let thousands of flowers bloom and allow the ecosystem for the great talent and community is to have that talent pipeline and have companies that can innovate, make mistakes and all the companies you had it before have made mistakes and event failures as well as successes and that is the story of technology and when i work and i remember in virginia when we lost the community and they have all these -- it's mostly small businesses and it is the ecosystem that you want to create, not your tax system or regular system but galatians will make it harder, more regular will make it harder for that next start up to get further. people like steve kaser are going around talking about the rise of the rest so let's create that ecosystem without attacking the countries or companies sor sorry. >> host: congresswoman, what about sarah miller's point that these large tech companies are prohibiting smaller entrepreneurs from enter

you and i haven't run tech companies. i want the people who know how to do this to go out and do this and let thousands of flowers bloom and allow the ecosystem, the ecosystem for great talent, for great immunity and technology is to have that talent pipeline and have companies that can innovate, make mistakes. all the companies you have for the come they made mistakes. they had failures as well as successes. that's the story of technology, and when i worked in, a member of the virginia community, they have all these small -- it's mostly small businesses, and it's the ecosystem you want to create, not your taxes and, not to regulation system. your regulations will make it harder, or regulation will make it harder for the next started to get further. like steve case for going around talking about the rise of the rest. that's great that ecosystem. we can do this without attacking these successful story companies. >> host: congresswoman, what about center is point that these large tech companies -- seras point that these lar

industry, saying that a connection to tech has been essential and inescapable in past campaigns for her two elections. the attorney general, her failed bid for the democratic presidential nomination, she relied on silicon valley's tech elite for donations at her network of family friends and former political aides has expanded the tech world. those close industry ties have coincided with a hands-off approach to companies under increasing scrutiny from regulators and lawmakers around the world. as california attorney general critics say, she has done little to curb the tech giants as they gobbled up new industries and rivals. the business section of "the new york times" has that profile if

and we lead the program with one of the biggest tech stories of the year and it appears to be playing out minute by minute microsoft confirmed monday that it is in talks to buy tick tock from chinese parent company bite day it's now this of course after u.s. president donald trump announced a plan to ban the app in the united states president trump spoke about the controversial situation monday afternoon. and so he can't be controlled for security reasons but in china too big too. invasive and it can be and here's the deal i don't mind if there's microsoft or somebody has a big company secure company very very american company buy it they set a date of around september 15th at which point it's going to be out of business in the united states but of somebody whether it's microsoft or somebody else buys it that will be interesting i did say that if you buy it whatever the price is that goes to whoever owns it because i guess it's china essentially but more than anything else i said a very substantial portion of the price is going to have to come into the treasury of the united states be

tech talk so much. that it will be in a robot i don't want to use american products anymore and i will support the chinese alternatives and economic self-reliance and what have you that way that. recently u.s. software company microsoft expressed interest in buying tick tock from byte dance the white house says if a us company bought that up the band could be avoided the. u.s. government executive order also focuses on 10 cent holdings the chinese owner of we chat hugely popular in china the messaging and social media app could soon be banned in the united states as well. of to senior market analyst data wanda craig craig what have been the significance of the u.s. banning we chat well i think it would be significant not necessarily on u.s. consumers because they are still quite limited in number but what the broader ramifications really would be the action of that's how you can it's not entirely clear but if it if extends for example to the scope of you wouldn't be allowed to download it on an i phone

is no longer the global dominant tech and evade of the world the u.s. has led tech innovation for. last couple of decades but recently ever since the rise of the rise of 5 g. that threaten the us its dominance on communications with the rise of tik tok that there in the us is dominance and social media and eroded on its influence and finally we chat that there in the us is dominance in the area of digital payments and then tech so everybody knows that the future is tech and whoever dominates tech will be the next superpower so yes the u.s. is targeting these particular companies because it feels threatened and finds itself in a very unfamiliar 2nd place and by banning we you know that will have major competent consequences for companies u.s. companies especially apple even though apple is not owned by tons and but apple will be the most affected because if we is removed from the apple app store no chinese citizen will be buy another apple i phone because it is integral to everyday lifestyle of virtually everybody in china and ironically as apple's sales decline the biggest winner a

it's not all tech. as we move through fall, if we continue to increase tensions with china, tech is exposed to china in production and consumpti consumption. i would expect some of the wind to come out of the sails >> all i'm asking is whether investors are too complacent about everything, about whether it's what liz just said about the tensions being ratcheted up with china act the fact the data suggest the economy still has an awfully long way to go and by the way, we're not that far at all from an election that could be kind of messy i'm just throwing out there to the group that even though you have positives to take stocks higher like the fed and whatever else you want to hang your hat on, there's plenty of reasons to be cautious. that's where i want to have the conversation >> i'll go back to something that steve said, i think what's happening in this, we have a common thread as those companies are doing well if you think about it, those companies are doing well are online retailers they are doing

tech space and say which u.s. tech companies are in china which u.s. tycoon riza trying to gain greater exposure in china because these are the ones that you old family going to be targeting this is from the chinese perspective going to be seen as an attack on chinese tech companies who want to expand globally and compete with the u.s. so we can expect that is not going to be taken lightly craig let's talk about the chinese perspective because the chinese foreign ministry accuses the u.s. of suppressing foreign companies that's exactly how beijing operates. it is and it's one of these really difficult savvy as well the you can't necessarily argue with the point on data privacy it's become such a hot topic look just here in the in the e.u. now over the last few years the g.d.p. everyone has become obsessed with data of what's happening with the data and what it's been used for so it's hard to necessarily disagree on the outside if you think if you believe if the u.s. government and maybe all the governments around the world believe that the chinese regi

tech should not be suffering so much. therefore, tech started surging. though we have moved on five months since those march lows. what has happened is the stock market overall is very expensive. stocksse are not cheap in this environment, they are expensive stocks that can no longerut they are a solid appeal. there is no longer value there. you for joining us. our bloomberg mliv managing editor. that is the mliv question of the day, isn't it 10 -- is the next be highernt going to or lower? reach out on your bloomberg. that's quickly recap what we saw at the top of the hour. that was bp and diageo. bp cut their dividend, first time since the oil spill in 2010. now bp is doing this and it's widely expected. they say oil trading delivered an exceptionally strong result. isding debts in the oil basically what is saving them this quarter. we saw with the show and the second quarter adjusted loss is now about 6.5 billion. the estimated losses for more than $8 billion. that trading clearly helping out bp. what are you seen across diageo? if trading oil was a l

the tech reversal, is it likely to be sustained? >> sorry, what is that? the tech reversal?linda: is it likely to be sustained? >> we are going through consolidation over global equities. this is a combination of the fact risk reward is unattractive if you look at valuations, they are very stretched, sentiment is optimistic. it is no longer as light as it used to be. we have passed much of the earnings growth we were expecting to be quite good especially in the u.s. and we are seeing a reversal in the dollar weakness which has been a tale of equities. you start to see the risk reward is starting to get poor, and with macro momentum slowing down in the data coming through, it makes consolidation in asian equities. now we are shooting to get the u.s.-china political frictions. this is a down way for this tech sector in the near term. we do like the sector and growth stocks and quality stocks on a medium term perspective. many of the outcomes of the covid crisis will essentially be good for the growth and quality stocks. some say forget the tech risk because when you look at as

it has been tech and small caps in charge. romaine: some interesting movers today were in the m&a space. workhorse, variant medical. nikola was up. update., we will get an a lot going on today. the x fl.uying taylor: i wanted to talk about what was moving higher. romaine: tiktok? did we use to own tiktok? caroline: different tictoc. ralor: caroline's downloads buy signal. i want to get more thoughts hear from kristin bitterly. curious how you are thinking about volatility. i have heard some different comments today. that we will get out and then maybe get back in the market on a relief rally after the election. others are saying they are going to stick through it. how are you thinking about volatility, particularly around some of the election risks. thesejust goes back to anchoring biases that we have. the 20's. in we think of the average historical norm, it is probably between like 15-18. over the past couple of years, obviously, we have seen historic low levels. then historic all-time in the 1980's. -- in the 80's. tohink th

so everybody knows that the future is tech and whoever dominates tech will be the next superpower so yes the u.s. is targeting these particular companies because it feels threatened and finds itself in a very unfamiliar 2nd place and by banning we you know that will have major competent consequences for companies u.s. companies especially apple even though apple is not owned by ten's and but apple will be the most affected because if we is removed from the apple app store no chinese citizen will be by another apple i phone because it is integral to everyday life style of virtually everybody in china and ironically as apple's sales decline the biggest winner and biggest benefactor would actually be. hillary i know you've been critical of the threats posed by the chinese that somebody is including huawei do you agree with these moves from the u.s. government to. actively banter and. well it's not a question so much the brand about being critical as a question of do we want to have come do business with companies who actually directly report to the chinese government and i actually will

tech?re opportunities in tech elsewhere, particularly given what we have seen from the earnings season out of chipmakers. i know intel is a different story, but do you see tech opportunities in europe and asia? ali: we do like a couple of names in asia. that we wouldtor abandon completely, but taking some chips out it will have some profits. it's a sector we remain interested in but don't see too much value in. we see a big shift of people who have momentum in growth stocks. you see this in european equities again. it was a call where we took last year and we went in european equities. at that point, as much as we would have liked. we received an interest. that is being held by europe all the way from 108 to 117 levels. people are seeing a bunch more interest in the 750 billion euros repo package has been received by clients as well. i am seeing a lot of interest in european equities so far. one thing that you mentioned when the three of us were chatting, the bifurcation between u.s. banks

harris's nomination is seen as a bit of an olive branch for tech , antitrustenator enforcement the techies primary concern. with us as eric newcomer, who covers tech and politics for us. over the last few days, since biden picked her, we have been trying to look more closely at her record, and her ties to silicon valley leaders, not necessarily a clear line, but some have given to her campaign. what actually is silicon valley's position on kamala harris? eric: she was not the favorite favorite. you look at tech rank and file, bernie certainly had a lot of support, and warren. and from the donor class, pete buttigieg was super popular. but kamala harris is the hometown senator, has a long track record in the bay area, and is certainly a known entity. given the possibility that elizabeth warren, who has been very harsh on tech, was a contender for the vp spot, silicon valley is certainly happy to see harris as the pick. and you've got venture , a lot of big silicon valley players who have donated to senator harris and have been supporters. this mean fores joe biden's fundraising efforts.

: we'll come right to you. ♪ upbeat music >> tech: you'll get a text when we're on our way. >> tech:efore we arrive, just leave your keys on the dash. we'll replace your windshield with safe, no-contact service. ♪ upbeat music >> tech: and that's service you can trust when you need it the most. ♪ upbeat music >> tech: schedule at safelite.com. ♪ upbeat music >> singers: ♪ safelite repair, safelite replace. ♪ tums ver(bell rings)la stick when heartburn hits fight back fast... ...with tums chewy bites... beat heartburn fast tums chewy bites webut you can't lose sight of your own well-being especially if you have a serious chronic medical condition. at aetna, we're always here to help you focus on your health. because it's always time for care. 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. >>> a battle for belarus. pro

his tech maturing as these giants get bigger and bigger -- is tech maturing as these giants get biggerll it be the same silicon valley forever? hussein: silicon valley will never be the same thing,. quite honestly i don't see that changing. i think tech is embedded in our way of life. all the things we talked about in the dot-com bubble about tech being big coming into fruition. three to 5 billion people are online using their devices every day. tom: what is the arrogance meter you have at hochstein ventures ventures? apple if it wasn't split would be $28,000 a share. that arrogance changing into something constructive when all of them feel they have to split, that they have to become more accessible to global finance and investment? hussein: i think stock split's in general generally have to split to become more accessible. to the institutional investor it doesn't make that much difference, but to the retail investor it does. it is hard to afford a $28,000 security. you do have to split. is aboute stock market retail investment. you really do want to cater. the caveat is these days a

that tech talk has been giving to the chinese authorities but what a lot of what the u.s. administration is saying and what experts are saying is that it's possible so if you're a chinese company you do have a responsibility you have a legal mandate to hand over data if the government asks you for it so that's definitely part of the concern but you do have to take you know as part of this in this broader backlash and this broader escalation in tensions between the u.s. and china it's not just have talks that's really come under pressure we've also seen this with holway which is the chinese telecom equipment produced. about is also getting a lot of a lot of. criticism from the united states as well so it's certainly part of this bigger escalation in tensions this strikes me as a sale at gunpoint basically the u.s. government saying you know you're not going to exist or do business in the u.s. unless you still can buy debts which owns to talk and get a fair deal with washington looming over the negotiations it's definitely ultimatum and we've heard from from both the company

tech leads u.s.her but a selloff among big banks means the benchmark fails the top the all-time high. the s&p 500 climbed above february's closing record and couldn't save it. bhp

a tech selloff. i think the more intriguing question is whether that leads to the broader index outperforming tech? we have seen a very concentrated outpour of tech so far, and the broader index has not performed as well. if we have a vaccine that should help the broader economy. you could see a rotation away from tech to other companies. i think the fundamentals of tech are different in that it is a winner take all sector in a world where things are becoming more prevalent. alix: does the same argument hold for whatever rotation you may or may not see out of american equities to european equities? bilal: that could be the case. u.s. investors are showing more indications of wanting to invest in europe. there is more positive european story as well. we are hearing more and more than international investors, u.s. and elsewhere, do genuinely think that regime change in europe would be the recovery fund. we could be sending more going forward. nights press briefing, the president of the united states in

i don't think it would d3 and tech in that sense. i don't think there has been a significant shift in the language. we are going to work in future, and that will be embedded in tech value for a long time to come. so long as the tech sector continues to post additional earnings growth, more or less in line with expectations, the market is expected to hold up. i don't think there is anything likely between now and the third-quarter earnings numbers, which is going to destabilize that. of course, there is always the roundup of tech, and that is what we are concerned about. tom: one of the great things i saw over the weekend was raging debate over inflation, clear and short-term inflation due to supply shocks -- lumber, iron ore, groceries, and we all see it at the grocery store. what is the medium-term outlook? do you suggest new or pernicious rising inflation, or will it be one be -- one big fake medium-term? peter: i think my view on inflation is that it is going to be very difficult to generate much inflation in the medium-term, larg

oracle does have an at tech business. tech business. it would be valuable to them to be able to sell this data or access to this data. the consumero market, but going into the commercial market and leverage consumer data on the back end. what the trump administration was worried about was the exploitation of consumer data. that would be for political and commercial advertising. incredibly is an political situation. the president has ordered tiktok to sell these u.s. assets. oracle's founder has been a big supporter of president trump and held a fundraiser for him at his estate back in february. what do you make of that, given the president may well have a say in who buys his company? does that give oracle in edge over microsoft? the wholein: since process seems to be so politicized, it's not clear what to talk does any different than any other app that young adults and teenagers use. social media apps, streaming apps altogether the same data. to dataoes not sell aggregators. is the reason why tiktok needs to divest itself from its u.s.

tech names or for our asian clients in the asian tech names.hey have to be diversified between the two, so we start seeing what we are seeing with tiktok and wechat, at least you are well diversified between the two worlds. i mean, i think, more broadly, for the market downside, you would need to see a removal of those tariffs, and if we go back to the end of 2018, and that kind of market, if we start to see that being removed, but that is just one case. francine: what do you see being priced in in terms of the u.s. elections? what about a biden administration? what is a market pricing in right now? you look at the betting markets, they are around 50% on a blue wave, so that is biden plus the democrat congress, and then there is biden plus a split congress. broadly where the market is today. what we are talking with our clients about is how they can reduce their exposure to some of the stocks that will be more sensitive to the election outcome, so we obviously look at banks and energy and health care. some of those stocks are going to be quite

the rally for today is being led by big tech.new the nasdaq hitting a fresh record high. what else is new for more on the market news and how to treat it, let's bring in jim iuorio, and today you're looking at the broader market, the overall market >> i am, because those tough names represented the leadership and last week was a big, huge test for them and they seemed to have passed the test we got through erarnings and their still relatively strong. here's the trend this is available in both the e-minis and the micro futures. but 3280 was a spot to buy with a target of 3330 there is something else i found interesting, too the dollar has been collapsing, too, and that's helped everything dominating in dollars, particularly the stock market so when the dollar rallied today, i think mostly the stock market wants a weak dollar but occasionally they like to be reminded that that dollar weakness isn't out of control at all. so occasionally a little bit of an up move, i think, is good for it of course, there is the two remaining boring

haidi: big tech once again drives u.s. markets higher. the nasdaq hitting a high on easing concerns about the recovery. apple and tesla offsetting a slide for energy and banks. the u.s. and china may start talking trade again. beijing says the phase one progress review should happen soon. alibaba offered more signs of china's strengthening rebound. shares jumped last quarter. the company says it is no threat to national security. let's take a look at our final friday session in asia. sophie kamaruddin is half in hong kong. green for are seeing asian futures on friday, this after the wobble we saw. we are keeping an eye on names like panasonic. we are keeping and i on a theme in japan, showing the dominance of quality stocks versus their value peers may have a bumpy road ahead. torall, we could be looking end the week on a risk on note. watching the terminal, we are looking to see if asia will track. joint the slot punch -- joins the slump on softer chip prices. with that risk, the big jump in taiwan's july export orders may be too backwar

and that's why tech, large cap tech they continue to move higher of course you look at apple.ade opportunity. well that's why. >> strong words there. or are there other fundamental reasons why people should invest >> of course but the big thing here is look at apple the service has been 950 billion. it's $60 billion next year and you have 350,000,950 million iphones worldwide. that's the key even institutionally speaking when you look at apple and in terms of tesla and the easy market right now. it's tesla's world and everyone else is paying rent. you see delivery ahead of expectations for 3 q and even though it's going to be the headline it speaks to a broader issue here that the strong are getting stronger and these are front and center >> how big of an impact did that have on tesla stock. where do you see that taking the stock? >> it's going to be a game changer for tesla. and announcing the third party supplier and i think there's a lot for that but ultimately you have competition across the board it comes down to technology and brand. that's the differentiation and that's

welcome to the wrekin tech.s been ruled unlawful and in violation of human rights. protests in belarus. and after 35 yea rs protests in belarus. and after 35 years and a laptop game, toshiba sold its last share of its last taken the personal computer since. google plans to build the biggest earthquake detection system. it uses tiny accelerometers built into smartphones and has a size or mentor that detects tremors. is this the future of photography? google has developed an ai model to create 3d models of new and complete scenes using still photographs. the model can even using still photographs. the model ca n even ca th re using still photographs. the model can even capture lighting changes without compromising the image. finally, if you are in need of a cuddly friend without the long—term commitment... this could be the closest thing. there are an estimated 5 million chinese people living in the states. president trung's focus on banning tech talk has stolen most of the headlines —— president trump. it hisses

you know what's interesting we talk about tech all the time and while certainly, tech gets a lot of presseslk about all the time but there are niches coming on like gangbusters like folks who have never heard of it, it's software as a service, according to forbes now there are two reasons why it's coming on like this ,a the pandemic forcing businesses to speed up digital transitions so folks can work from home and do tv shows from home and b also subscription models that means generating recurring revenues. now this morning granddaddy of them all salesforce.com got an upgrade and this is an area i love. it's hard to find the right one. sometimes all go up sometimes they pullback. any names in the space you are specifically looking at? >> yeah, look if salesforce is the granddaddy we got to look for the grandkids and great grandkids and we want to look at mid cap names. they are growing just as fast but at cheaper valuations so two names are cloud dara and mindcast both growing 25% year-over-year subscription revenue, they are trading about 50% cheaper than salesforce on a price to sales rat

we have seen this run-up in tech stocks.inue to talk about valuations being pretty stretched. where do you see them going this year? john: let's just clarify, those companies are actually held in a very specialized investment option of hours, global environmental opportunities. it has been an absolutely stellar performer for us over the last few years. the pinup of that portfolio. it is a fairly exceptional portfolio that one. we don't hold much tesla in our mainstream portfolios. in terms of that portfolio, do things look a bit stretched? average around 45, so it's probably around 20 turns higher than the s&p average. do we see value? it is hard to see value in that portfolio. does that mean that it is all about collapse? fromt is the tailwinds some very powerful fanatics. eatics.mattix -- them in terms of our mainstream portfolios, we are a big fan of the faangs. doy do look like they could a pullback right now. whenever we have taken the profits on- technology, we have been on the edge of our seats, waiting for a pullback

tech's led the way. maybe we get closer to a vaccine, maybe we get even a little more of a rebalanced trade but i think if you want to rotate through tech names, great. they have been outperforming. i actually bought a little bit of jets today. i don't want to buy an individual airline but in case we get a little bit of rebalanced trade with tech cooling off, some money could flow into the airlines. i will go with jet, it's very very tight. i think you could be long the first 15, they were as high as 22 on the first rebalance. i kind of like that as an off the beaten path trade for the rebalance, besides everything else that's been working. liz: how about that. just as we get the boeing news, scott redler already knew he should be in the etf i guess really make sure you spread your risk beyond just a boeing. phil flynn, do you leave it or do you like it? do you look at your portfolio and keep your eye on it through august, even the last week, which is traditionally very thinly traded? >> well, if you tra

is this is week that tech took the market back. tech is up 2.8%. new all time high is the russell 1000 growth. >> tech is back and tech is working. every time we get the story we'll roll out of tech into value, it works for three or four days and we go right back to what's really happening in the economy is tech platform driving dijtization. not only domestically but globally these companies are empowering it that investment team will be strong right through 2021. the russell will be interesting. if you can find companies because the russell itself actually has no return on assets most of the companies don't make any money. if you can find a mid cap company and its revenue domestic it doesn't matter who wins the election we're going the war with china it's going to have an impact on certain s&p companies. you can find refuge in the russell 2000 i think you have to do your stock picking there. i'm looking for companies with companies that make money by distributions and having nothing to do with china >> is this the week we're reminded of why we're

companies microsoft and oracle for sale that would allow tech talk to continue operating in the country. and let's go to our new york our financial correspondent in new york korda. yes we talked about this case before everything going on around tech talk there's been an unusual amount of involvement from the u.s. president including a request for payment should this sale go through to $1.00 of these 2 companies just to talk have a case before it it clearly is highly unusual by the way i'm standing in front of district court in brooklyn and not in florida where their lawsuit actually of was filed here on monday you mentioned this fee this cut that the u.s. president is looking for from this potential deal to talk or the mother company by denser actually saying well that proves that it's not about the national security but that the whole case is politicized and if we look back what happened last year for example when we also had your lawsuits from you all by another chinese companies both so lawsuits by the way it got dropped or it dismissed by the court but because then you i was seen as

whoever dominates tech will be the next superpower. on the passenger jet. crashes have confirmed that 18 people were killed after the plane skidded off the runway as it trying to land in the southern state of corolla 127 people were injured among the dead or both pilots the express jet was returning from dubai it was carrying 190 passengers home after they'd been stranded overseas by the coronavirus the boeing 737 broke into 2 pieces after leaving the runway at high speed. by heavy rain and poor visibility for a full investigation is yet to be carried out india's prime minister narendra modi has said his condolences to the families of the victims. of the russian city of seeing a 5th. weekend of unsanctioned protests in support of its ex gov local authorities say that almost 3000 people have taken to the streets so if we go to screech and former head was detained over accusations he ordered contract killings in the mid 2000 he denies the positions of girls arrests has led to mass protests and supporters demanding an open trial to mr it

to tech companies are fighting back in the u.s. government is also fighting back and in some ways doing some of the things that the chinese companies did a few years ago i mean we heard in the report. about how you know the chinese versions of this and we have the foreign ministry in china complaining about the ban on tick talk the other day when in fact you know china is banned facebook isn't played out so there's all these are unease emerging i mean how important is the u.s. market for example for to talk do you think said to beijing you could cave in and and actually sell the company because the u.s. demands it i think they will i mean i think the mayor was was was a big a big win for talking it because it gave them a lot of the gist mysie and i think that they will cave because eventually they. ultimately they'll have to. there's no point in them having this if you count operation the u.s. the u.s. is very important because you've got a lot of young consumers there it's you know by dance is the most valuable startup in the worl

tech continues to drive gains. the nasdaq hits a new record, propelling stocks and futures even higher. pfizere news on a vaccine serves as a tailwind. plus, biden vows to end the darkness. calling his opponent a national embarrassment. he promises to support the working class and reform taxation. look at the futures right now. in terms ofains tech stocks in the u.s.. a new high. now we see a little bit of a mixed picture with ftse futures pointing down, but continental futures are on the rise. back all gaining. let's take a look at what u.s. futures are showing us. more green arrows. almost 0.2 percent on nasdaq futures right now. alsond dow futures are gaining. what are you seeing on the gmm? anna: it seems that markets, investors taking a glass half-full approach. you can see some of those markets doing well on the screen right now with the south korean market up by 1.4%. coming through. there are some reasons to be cheerful. you mentioned the virus, latest news out of pfizer. also, the tech rally, factoring tha

and china it's not just tech talk that's really come under pressure we've also seen this with holway which is the chinese telecom equipment produced. that is also getting a lot of a lot of. criticism from the united states as well so it's certainly part of this bigger escalation in tensions this strikes me as a sale at gunpoint basically the u.s. government saying you know you're not going to exist or do business in the u.s. unless you still can buy tickets which owns to talk and get a fair deal with washington looming over the negotiations it's definitely ultimatum and we've heard from from both the company and from chinese officials today just how angry they are about this they're saying that this is the u.s. trying to sabotage what's become really the crown jewel for the chinese text china obviously has a lot of big tech companies but this is really its 1st big international internationally popular tech companies so the fact the u.s. is basically saying you need to sell to a u.s. company or we're not going to allow you to exist anymore it is certainly being taken quite hard and ch

see if this tech rally is permanent and is it all in the price. does the future growth come from. a lot of this future growth is from things that technology companies are going to sell to other industries but it does not take account to all the industries technology is going to invade. so so far there's very few industries that tech has actually invaded and almost destroyed. the retail industry advertising, music, publishing and so on but most industries are relatively undisrupted yet by tech and the next two to four are health care and banking. these are massive industries that could provide new revenues. i'd say most analysts do not assume that tech is going to invade these industries. automobiles, construction, defense. they're also going to be disrupted and that provides new revenue sources that may not be analyst forecasts today. >> some of those themes seem bullet proof so to speak they can survive a real, real shot out there we all know that there's risks to the market that are unforseen and some out there that can be very, very strong goin

with talks for tech giant microsoft to buy tech talk now on hold what's next for one of the world's most popular apps. a micro thanks for joining us state of disaster in melbourne and all of australia state of victoria the government declaration comes as the state struggles with a stunning resurgence of corona virus infections a range of new lockdown measures has been imposed including a nighttime curfew for the capital in addition residents will only be allowed to leave home for work medical care exercise or shopping for essential. their last moments of freedom before the. if you came into effect the new measures are the country strictest to date melbourne is already under a 6 week lockdown but the infection numbers are still rising victoria's premier has now declared a state of disaster. we cannot longer have people visiting out as we can no longer have people simply in about for no good reason whatsoever it is not an easy decision to mike but it is the decision that is necessary and that is war i have my date and that's why place will be out in force and you will be stopped and you wi

and i would like to say that i'm somebody who works in tech and i believe that tech has spread enoughnd has enough money to be able to open up offices anywhere in the world. and on top of that, to pay people to move to their location, wherever they may be. they have the money for flexibility, whereas our local resident does not have that flexibility. so if anything, we should use our dollars to protect and to serve the residents and the local people in san francisco and in the bay area in general. especially if you look around in san francisco, in the mission, in the tenderloin, and the homelessness is the worst that it is. and we are supposed to be the richest nation on earth? this is completely unethical and we have to rethink how we use our money. thank you. >> clerk: thank you. operations, unmute the next caller, please. >> caller: good afternoon, supervisors. my name is ellen rosenthal and i'm calling to support the appeal of the environmental review for this project. because it does not meet the objectives of the mission-area plan. i am a photographer and i had a studio building