Entire party further to the left . To get a sense of that, we welcome someone with vast experience on wall street as well as in washington, he is Ralph Schlosstein, cochairman and coceo of evercore. Great to have you with us as always. Youve described yourself as a fiscal conservative but a social liberal. Side, fiscal conservative are you concerned joe biden is tacking to the left to make sure he keeps the bernie brose with him . Ralph not really. If you look at Vice President bidens record in the senate and when he was Vice President to squarely obama, he is in the left center of the Democratic Party, the center of the Democratic Party. E is a procapitalist his selection of Kamala Harris as a Vice President , who while i also believe is procapitalism, sets of course which i believe is a right course for the country. Commitment to private enterprise , but also a more balanced distribution of wealth and access to health care and education as more of a right in our society than a privilege. Procapitalism, but a different sort of capitalism than what we have seen from donald trump. A lot of big programs, infrastructure programs, energy programs, Education Programs we will have to pay for by borrowing or increasing taxes. We have heard there will be increased taxes. Are you concerned about that and the effects on the economy itself . Alph i think we have had pretty irresponsible fiscal to the beginning of the covid pandemic. We had a trillion dollar deficit at 3. 5 unemployment, which i think is a truly irresponsible policy. Gdpou look at the share of that has gone to federal taxes, it has declined steadily from 19. 5 to 16. 5 , which in my view is inadequate to take care of the basic needs we have in government, which is why people are running larger deficits. I think what we will find in the Biden Administration is perhaps a commitment to a little more a little more for commitment to things Like Health Care and education and we have seen in the Current Administration, but very importantly, and certainly a big commitment to infrastructure, but very importantly a willingness to pay for those commitments so we are not saddling our children and our grandchildren with unacceptable debts. David i think everyone agrees we needed to spend money and that means borrow money given the crisis in the economy. Right now we are taking a look at a cliffhanger with fiscal stimulus, as we thought we were going to get something by august 1. We are now looking at september. What will the economy look like by november 3, whoever wins the election . Ralph the economy will be in willery, but unemployment still be unacceptably high. Probably one side or the other of 9 or 10 . We will need to have continued stimulus. Hopefully at some point there will be compromise and thethe democrats republicans. Once we get on the path of recovery, that will not be fully done until we have a widely available vaccine and widely available therapeutics, because people will be fearful of returning 100 of their lives prior to this. Once we have that. We need tohave that, provide more resources through the government, and i think joe biden has an intelligent tax plan, part of which is simply reversing some of, but not all of, and certainly the most irresponsible parts of the trump tax cuts, and also paying for the investments we so strongly needed in this country. Toid pick up on that and go your business specifically. Your Investment Bankers par exelons. Did you see an uptick in business when the rate went down for corporations, and on the flipside, if it went back up to 20 , which is what Vice President is talking about if it went back up to 28 , which is what Vice President biden is talking about a mutt with your business . Ralph neither an uptick or a down tick. All the corporate rate does is between theine pretax earnings and what goes to the government. We had a policy that 35 went to the government and 65 went to shareholders. And was out of step noncompetitive with the rest of the world. The majority of the developed to 28 rangehe 25 , so 25 to 20 of the pretax profits go to government, and the rest go to shareholders. That is important because we do not want to lose businesses domicile i in the United States because they perceive, relative to other countries, that too much of their pretax earnings are being taken by government. At 21 , we are probably out of step with all but the tax havens in the other direction. What does this mean if it goes to 28 as Vice President biden has suggested . 79 of earnings going to the shareholders, 72 will go. That is roughly a 10 decline in earnings per share. It will have a little bit of an effect on the stock market, but that is not a lot more than one years Earnings Growth to be honest. David fascinating. Thank you so much for that analysis. That is Ralph Schlosstein of evercore. Will be coming up with the question of blaming President Trump for his response to the coronavirus pandemic. How will President Biden handle it . We pose that question to former joe biden chief of staff ron klain. Ons is balance of power Bloomberg Television and radio. Guy david this is balance of power. I am david westin. Of the things democratics democrats were united about was their condemnation of how donald trump handled the coronavirus crisis. Senator sanders for those who may have voted for President Trump the last election. Those who watched watched new york suffer but through it learned absolutely nothing. Today, six months after it began, the nation is still unprepared. Imagine if we had a National Strategy so everyone who needs a test gets one for free, so everyone has access to a safe vaccine. More than 150,000 people have died, and our economy is in of a virusecause this president downplayed for too long. Before trumps negligent response to the pandemic, too many hardworking families have been caught on an economic treadmill. David we have not seen anything like the covid pandemic for at least 100 years, but we have seen epidemics that threatened to turn into pandemics, including the ebola crisis less than a decade ago. Then president obama appointed ron klain, former chief of staff to Vice President biden, to head up the governments effort. We welcome ron klain to bloomberg. Give us a sense of what you did then and what joe biden might do now with this pandemic. Ron thank you for having me. It starts with putting science in the forefront, not politics. President obama made it clear that my job was to poorly date the response and logistics in the planning, the Strategic Direction came from medical experts, including dr. Fauci eight, who was a key part of including dr. Fauci, who was a key part of it then and a key part of it now. This president has tried to silence scientists, which always gets you off in the wrong direction. The center of that is having a National Strategy. Having states fight the disease on their own with their own standards in their own rules has not worked for us. The disease has spread from one part of the country to another. We need a National Testing strategy, we need contract tracers close to close. Aid forto get economic our businesses and state and local governments to our families and we need to put science at the forefront of developing vaccines, developing therapeutics, getting them out affordably and safely to all americans. That strategy, if you want to know indepth what joe biden joebiden. Com. S on he has had a sciencebased strategy from the start. ,avid science at the forefront but what role does economics play . You solve the equation simply for Public Health to matter what happens to the economy, or you have to balance the two, or is it a false choice . Ron it is a false choice. If people are not safe, they will not shop. If people do not feel safe, they will not go to movie theaters or restaurants. You cannot have an economy where people feel like engaging in commerce is hazardous to their health. That is not going to work, that is what we have seen in the last few months. Part of fighting the disease is giving help to our businesses. There are places in the country where it is safer schools to reopen. There are businesses that are safe to reopen, but they need guidance and economic aid. It is not fair to say to a Small Business you can reopen, and you should protect your workers with protective gear, you should protect them with plastic shields, but there is no help to do it, there is no aid, so i think this effort to fight the disease and fix the economy, they go hand in hand. We will not solve one without solving the other. David we need a new ron klain . You were dubbed the czar at the time of a bola. We need that kind of function in the white house . Ron Vice President biden made clear they will bring back what obama set up at the end of the administration, Pandemic Response run by National Security council. That is something they created. Ironically, President Trump kept it for the first year of his presidency, and then abolished it in 2018. He will bring that back on day one. That office will be in the National Security council in that office will run a National Covid response strategy. David besides being the ebola czar and chief of staff to Vice President gore and Vice President biden, you had a big role in the 2000 election when there was the dispute in florida. We all remember the hanging chads. There is a lot of concern this year it may be far worse because you have a lot of people mailing in their ballots, President Trump has been outspoken about that, it may take a long time to get an answer and there will be a lot of challenges. What is the joe biden camp doing to prepare for that . Ron the biggest lesson i took away from being in a close president ial election in 2000 is the best thing for your candidate is to not be in a close election. The best thing would be for the Biden Campaign to continue to do what it is doing, which is rally supporters, get its voters to enthusiastically, and to do all those things to win. Enough votes so these issues do not matter in the end. The Biden Campaign is preparing for this. The former counsel to president obama is overseeing the Biden Campaign multifaceted effort to prepare for this. We have the largest Voter Protection effort ever in American History to make sure people get their votes counted safely. If youre listening to me right now, the best thing you can do, and the vast majority of states that allow this, is to get your ballot early and cast it early. If you do that, you are insulated from all of these other challenges and problems. That is in your control. In most states you can vote absentee, vote by mail, you can get your ballot early and cast it early. That is the safest thing for you and for our democracy. David how big a problem might this be . I interviewed the cochair of lawyers for trump who said they are getting lawyers across the country ready to go into court and fight over the ballot box. You have lawyers lined up . Ron we certainly do. We have lawyers in every state. Our focus is on protecting voters, getting voters their right to cast their vote and have it counted appropriately. I think that is the most important thing. We have seen the president try to tamper with the Postal Service and raise fears about it to discourage people from voting. We want to convey a message that you have the right to vote. You can exercise that right by voting by mail. It is safer if you do it early. Many places have early voting. In person voting early is another way to vote. We are working on strategies for safe voting on election day. There are ways polls can be run in a way that is safe and secure. We want people to be confident in the election, confident in the vote, we protect peoples right to vote, we are fighting back on voter suppression. The most important thing people can do is exercise that right and get the ballot cast as early as possible so you know your vote counts. David thank you so much. Ron klain, former biden chief of staff and ebola czar. Still ahead, democrats approach to health care. Can we have universal Health Care Without medicare for all. We asked katherine baicker, dean of the Chicago School of Public Policy. Ons is balance of power Bloomberg Television and radio. The failed federal government that watch new york get ambushed by their negligence and watched new york suffer, but learned absolutely nothing. Today six months after it began, the nation is still unprepared. David that was new York Governor Andrew Cuomo speaking at the dnc last night. One of the things that divided democrats in the primaries was medicare for all and whether private Health Insurance should be excluded. We welcome katherine baicker, dean of the Harris School of Public Policy. You heard Bernie Sanders say i agree with joe biden we should move towards universal coverage, we just disagree about medicare fraud. Can we have universal coverage without singlepayer or medicare for all . Katherine there are a lot of different ways to get people covered. You can expand medicaid or medicare and subsidies with private Health Insurance through the Health Insurance exchanges. The important thing is everyone gets access to lifesaving care, but i am suspicious of a onesizefitsall solution given how different americas preferences are, about what the Health Insurance plan looks like, about how the Health Care Infrastructure differs across the country, i am more optimistic about universal coverage that is achieved through giving people subsidies they can use on different kinds of lands issued by different payers. David that sounds like you think what Vice President biden is proposing make some sense, because he talks about subsidies as well is a public option. Does that make more sense than medicare for all . Katherine i think more choice and more competition in delivering Insurance Products is a better way to get us toward how i value care and highvalue insurance. Medicare is wonderful for our seniors, but it is very slow to evolve in slow to adopt new payment models, to adopt new benefits, and it is not as efficient as one might hope. Having a guarantee of access through subsidies that could manifest in Health Insurance exchanges and expanded medicaid coverage would go a long way towards getting people access to care without forcing people to one model that may not work for everyone. Look at theay to last few months is an extreme stress test of our health care system. What difference does the Affordable Care act make . Katherine i think the Affordable Care act went a long way toward getting access to health care in a crucial pandemic for people eligible for , especially states that had chosen to expand it, particularly for people who lost their jobs because of the Unemployment Crisis that came along with the pandemic. The Affordable Care act or obamacare did a very good job of expanding coverage, but not to everyone. There are still a lot of people who fell through the cracks, not just in spaces that expand medicaid, but because so much of our private insurances is tied to peoples jobs. Going further, to have more access to care, would be important. In our saw the huge gaps Public Health infrastructure, our surveillance, our ability to detect and react quickly to increases in disease prevalence, i think the failures of that were in sharp relief. David that is something we do not hear that much about. That is the failures of the infrastructure of our Public Health system. Is there any move to have further investment . What investment do we need across the country and is it federal money, is it state money . Where does it come from . Katherine we need more federal money and federal leadership on consistent and timely data reporting. Flying blind and this is a recipe for flareups that are not addressed as quickly as they could be and much more draconian steps needed down the road. There needs to be a uniform infrastructure for reporting because the disease crosses state borders. Health care resources need to cross state borders. The reaction to that information should be different in different jurisdictions, not across different states but in different cities or counties, rural areas, urban areas, very Different Health care conditions across the country in very different disease prevalence across the country. I think we will need local reactions to be able to be sensitive to local conditions, but we need National Infrastructure for data collection, reporting, and redeployment of Health Care Resources to where they will do the most good. David thank you so very much. Always helpful to have you with us. Baicker,atherine university of chicago harris full of Public Policy dean. Can joe biden bring out the bernie bros . We talked with former Sanders Campaign manager jeff weaver. Power onalance of Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Word news,rg first we go to mark crumpton. Mark the World Health Organization says the planet is nowhere near the coronavirus immunity needed to induce herd immunity, where at least 70 of the population would have antibodies to stop the spread. The who emergency chief largely dismissed that theory today, saying it is not a realistic solution. Most studies have suggested only about 20 of people have antibodies. President Vladimir Putin order the 2016 hacking of Democratic Party accounts and the release of emails intended to harm Hillary Clintons campaign. That is the conclusion of the Senate Intelligence committee. The investigation also found numerous contacts between Trump Associates and russians, as well as efforts by donald trump to take advantage of leaks politically, but they did not find evidence of collusion between President Trump and russia. Kristy freeland will become canadas next finance minister. Justin trudeau will name her to replace bill morneau, who quit after a rift withdrew to proved impossible to repair. She will be the first woman to hold a position. U. K. And European Union officials have the next seven weeks to hammer out an agreement over their future relationship. After a brief summer hiatus, discussions will resume in brussels today. The two biggest sticking points remain what access eu vessels will have two u. K. Fishing waters and how closely britain will have to follow the blocks rules to ensure a level playing field. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. David thank you so much. Perhaps the most telling show of unity in the Convention Last vermont senator and former president ial candidate Bernie Sanders spoke. Who supported other candidates in the primary, and to those who may have voted for donald trump in the last election, the future of our democracy is at stake. The future of our economy is at stake. The future of our planet is at stake. David we welcome now former Bernie Sanders Campaign Manager jeff weaver. Welcome. Thank you for being with us. The question on many peoples cans, certainly democrats, sanders deliver his followers to joe biden when it comes to voting november 3 . Jeff great to be here. Bernie sanders does not control nor does anyrs, other political leader. But what he can do, which you did last night, is to provide a layout of the threat that donald trump poses not just to the economy, Public Health of the country, but the fundamental healthy poses to our democracy threat he poses to our democracy, rally people to come out and vote for joe biden and Kamala Harris. David one thing that struck me last night was how full throated sanders was for joe biden. Is that because of the four years of donald trump, or is it Something Else . Jeff a number of factors are at play. Obviously, the imperative to be donald trump. Bernie sanders is historically aware of the danger that is posed by authoritarianism, personally and his family, to the world. Donald trump is not an isolated phenomenon. We see authoritarian leaders rising up all over the world, and that has to be defeated, especially in a country that fought authoritarianism. In addition, Bernie Sanders and joe biden have a personal relationship that goes back many years. I do want to credit the Biden Campaign for reaching out post primary, not just to Bernie Sanders and his campaign, but the progressive wing of the Democratic Party, which is increasingly a majority of the party, to find Common Ground around the issues and to pledge to have an open door policy, a place at the table for the progressive wing of the party. David cording is one thing, moving is another. Is it fair to say that joe biden has moved his policy positions a tick or two in Bernie Sandersdirection . Has he had that effect on the party and the candidate . Jeff the tens of millions of people who voted for him, donated to him, campaigned for him and other people, we are seeing it in down ballot situations all over where progressive challengers are winning against more moderate incumbents. There has been a tremendous seachange in the party, a healthy change, which in the longterm will help the Democratic Party row and reestablish itself as the dominant party in this country. That means looking out for poor people, working people, marginalized communities. That is something that we lost with the new democrats who took the party down a bad path, destroyed the success of the Democratic Party since the new deal. I think the modern Democratic Party is reviving its roots, Bernie Sanders is playing a huge role in that. Millions are disgusted with politics as usual in washington. So you have seen a major change in the party. Look at the platform in 16 and 20, it is a far more progressive document that we have seen since perhaps the new deal era. David we will be hearing from bill clinton tonight. Is this a partial turning away from the clinton direction . Jeff talking about bill clinton , yes, i do. There were a lot of things done in the 1990s, free trade agreements which really destroyed American Manufacturing and hurt workingclass people, things like dolma, the crime bill, welfare reform. All of these things were a wedge issue designed to pipit away from workingclass people of all races. That did longterm damage to the party and the confidence that everyday people have that the Democratic Party is standing with them. We are seeing a change in that now. Credit we should see barack obama with doing some of that. He was faced with an international calamity. If you look at exit polls across the country, medicare for all is popular with democrats, even those that voted for joe biden. David interesting take. Thank you for being with us, jeff weaver, former Bernie Sanders Campaign Manager. Nearly 30 years ago, it was the economy, stupid, when bill clinton ran for president. This time it is the economy again but it is tied to a pandemic. We will speak to Steve Rattner about the role of the economy and the virus this year. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Democrats made it pretty clear last night that one of the major issues for them will be President Trumps handling of the coronavirus. For a read on that strategy, we welcome rick davis. Great to have you with us. Give us your sense, as someone who has run these campaigns, is this a structure smart strategy on the democrats part . Rick they are going to define the stakes of the election. One of them can be how you tackle a global pandemic, it is pretty significant, it affects every man, woman, and child. You could not get any more of a universal issue. Making that day one as part of their convention is smart. Making that intertwined with the covid response, i think that suits the dialogue that the democrats started last night very well. David President Trump keeps saying we are going to have a big rebound in the Third Quarter and Fourth Quarter that will help him in november. What does he need to say that we are heading in the right direction . Rick i would remind him that people start voting in North Carolina september 4. He is running out of time and some of these states to get ahead of the cycle. When you were only six weeks away from people going to the voting booths and turning in ballots, time is short. If he wants to bank on a rebound, that is a risky strategy. More importantly, i think he would want to think on the things that his administration is doing to keep the crisis of getting worse and how to build a jobs in the interim. David thank you so much to rick davis, who will be joining me again tonight for the start of the Democratic National convention. Pandemice reasons the may be affecting voters is the effect it had on the economy, with President Trump promising a swift rebound, and others begging to differ, it is fair to say. For a sense on where we are now in where we are going, we welcome Steve Rattner of willett advisors. Thank you so much for being with us. I hear conflicting things, that we are on the way back, we are out of the recession, but others say not so fast, i think we have some real bumps ahead of us. Steve i think all of those can be true, believe it or not. Let me start by saying, as much as i wanted to disagree with rick davis to make it more exciting, he laid out clearly. The economy is almost always top of mind for voters, especially in the middle of this kind of crisis. This time around is a bit different. I think the virus is very front in mind for people. Muchs character is very in the front of mind of people. The economy, im surprised, has gotten less attention than i expected given what is going on. Two more directly answer your question, i think all of those things can be true at the same time. We have had a terrible recession, greatest since the great depression. That said, the Third Quarter should show some positive growth. We have been adding jobs, admittedly at a slower rate each month. That will be the argument. It is what economists call the stock versus the flow. Democrats most a look at where we are. Republicans will say, but it is Getting Better. The evidence is clear that it is Getting Better far more slowly than the president in a sense promised everybody when he talked about vshaped recoveries, and then Jared Kushner saying that the economy would be rocking in july, and so forth. Early voting, but also the third gdp number that the president is putting a lot of hope on as part of his campaign, only gets released on the thursday or friday before the election. Three or four days before the election, when many people may have already voted. As someone who invests money, is responsible for investing money, how do you invest in this climate, with this much uncertainty . Maybe it will take a long time. What do you do . Steve investing is always a challenge in many respects. This time around is more challenging because we are expected as investors to also become Public Health experts because so much of what we do will ultimately driven by the course of this virus. If you tell me there will be a vaccine, we will be back to a fully functioning economy in december, that would be one review. If you tell me years, i could have another view. It is the toughest time to invest in my career. But we are longterm investors, i dont know how to do market timing. Every time i have tried, it has not worked well. We remain essentially fully invested, moving some pieces around, trying to find the best opportunities, but i do believe that with time markets go up, equity markets go up, and we should be in them. David it is hard to be an investor and epidemiologist at the same time but we all listen to the experts, medical doctors that come on, dr. Fauci and others. What happens to the economy, investments, if we dont get a vaccine soon, within the next two years . Cures the one that vaccine 100 . It. We liv learn to live with does that make a material difference to investments in the economy . Steve what happens and what i worry about, a certain amount of the economy will absolutely come back. People are working, jobs are being created. Is that last 10 , 20 that critical to having a fully functioning economy, travel industry, entertainment, sports, all the things that bring people into closer contact, may not come back under your scenario. In that case you have an economy limping along below potential, quite high by historic standards, and people getting increasingly concerned. That last 20 actually is the key to whether we have a full recovery or not, and that is dependent on whether people can go back to not just working but living, traveling, doing all the things they like to do, as they were doing in january and february. November 3, one thing that we will be deciding is who gets to run the economy, so to speak, going forward. One of the criticisms democrats are making about President Trump is how competent this government has been in handling a lot of things including the economy. Last night we spoke to Larry Summers and asked what a blighted administration would be different. Againwould be confident and we would care again. We would have a government that could carry out basic functions based on expertise, like all other countries do. Atid steve, as you look what the Trump Administration has done, and put aside the policy and ideology. Whatever they were trying to do, have they been confident competent in managing the economy, are there things they could have done that wouldve helped us all . Steve i agree with larry, there is a lack of competence and caring. Lets take the crisis in front of us, the next stimulus legislation. There is no doubt in any persons mind that we need another piece of legislation, address the state and local problems, address the testing problems, more money for things like ppp, extended unemployment insurance. And the white house has been completely unable to even get its own caucus to a reasonable place, let alone get a deal with the democrats. The democrats passed heroes act in may, it was certainly aspirational. I am not saying that it should become law, but it was a starting point. It came to three weeks ago for the republicans to have a counterproposal, and it was not even much of one. Now the president has these executive orders putting aside whether they are legal or not but they will not address the problems in a serious way. And everyone has gone home. That is a lack of competence. David are we facing a fiscal cliff . It has been since august one that we have not had the supplemental unemployment insurance. What could that due to the economy . Steve what do you mean by fiscal cliff . David if they dont come up with a fiscal stimulus by september, which some think is possible. Steve a lack of legislation will produce a serious fiscal drag on the economy, no question. Out, up limit benefits run we go back to the levels we had before, ppp money runs out, state governments can see this clearly. They are required by law in almost every case to balance their budgets. It is an enormous drag on the economy, and that is what you are starting to see. You have this deceleration in job growth. August job numbers could be worse still. I am not here to make that prediction but its possible. There is no question the momentum in the economy is ebbing. Credit card data has plateaued around 15 below last years levels. That is what i was saying about not achieving a whole recovery. You have substantial experience in washington as well as in new york. How much of this is within the power of the administration, president . To what extent would a President Biden if it happened how much could he do without the congress . Steve it is limited. I know there is a big argument about executive authority, how much power a president should or should not have. Having worked in washington, the president s powers in these areas are surprisingly limited. He came up with what he thought were the best ideas, to do it on their own, and it did not amount to much. You have to work with congress. One of joe bidens strength is his ability to reach consensus. He is not a terrible ideologue that says my way or the highway. He lived in the senate for so many years. He knows how to compromise. Im not saying it will be easy, we have two parties that are deeply polarized, but he has a far better shot of pulling the sides together and reaching a compromise than the Current Administration has been able to do. David always a pleasure to have you with us, Steve Rattner, chairman and ceo of willett advisors. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. We are overdue for a check on the markets. Scarlet fu is here to fix that problem. On the way to a record close. We have gotten pretty close in the past couple of days but could not get there. The number to watch for the s p 686. 15. 3 one of the futures of todays trading is the catalyst, which is better than expected Economic Data for Housing Starts and building permits. There is also continued improvement on the covid front, particularly in florida. All of that helping to feed into risky assets. , we have seen Growth Stocks take the lead once again. A little bit of a chain from the last two weeks when value stocks outperform growth and people were looking for the rest of the economy to play catchup with some of the big cap tech names. Etfs have shown that money is exiting Growth Stocks and moving into value. 551 million. It is close to the end of earnings season so we have to talk about retailers. We have a pretty bifurcated industry. It depends on whether you can open for business during the pandemic or you had to close. If you had to close, the pain was there. Kohls down 16 . Home depot was able to open but they all faced higher expenses, particularly when making sure their employees were safe, outfitting their stores to make sure that everyone was socially different distanced. David thank you so much. Coming up, balance of power continues on bloomberg radio. And to and to into our special coverage tonight featuring speeches from former president bill clinton and former second lady of the United States dr. Jill biden speaking from the classroom where she taught. The theme will be leadership. That does it for balance of power. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following from around the world. Walmarts warning to washington. A company says tougher times can be ahead without another round of federal stimulus. We will have the retail roundup. U. S. Homebuilding picks up for a third month. The latest signs the sector is emerging as one of the few areas of strength in the economy. Tiktoks u. S. Or operations. Oracle is entering the mix to own a part of the company in the u. S. Lets get a check on the markets. A typical day in u. S. Markets where you have the nasdaq leading gains, up half a percent. The s p is higher but not as high as the nasdaq. The dow in negative territory for most of the day
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