Nominees. And, election security. It is at the top of everyones mind. What the cloud flare ceos company is doing to thwart cyberattacks. Plus, highlights from my interview with Disney Ceo Bob Chapek in the last hour. Disney plus shares jumped in afterhours trading. First, lets get up to speed with all of this market move. Tech dominating the day. Mastec registering its best day since april. Abigail doolittle, what a day. Abigail the nasdaq 100 having its best day volatilead all of this action, speaking to the big gains in august, the big selloffs in september. We now have the nasdaq and s and p trying to take back on those alltime highs. A new wants to this is this year, in 2020, these big internet stocks are considered to be quote unquote defense. The companies have really been outperforming from the stayathome trends. Apple up more than 6 . Its best day since july 31, when the stock had surged by 10 . That is the degree of the buying power. We are seeing how much the investors and traders momentum folks really believe in this story ahead of the iphone 5g event tomorrow where four phones are expected to be revealed. Amazon, the prime day event starts tomorrow. Also higher 2. 6 . It was a strong rally for big tex but also a narrow rally. And, i said risk on relative to stocks, big tech, the internet companies. Not right across the board though. For the holiday, bonds were closed. The yen rallying for the second day in a row. Crude oil down as perhaps a parish tell on actual economic activity. Some disturbing virus data out of europe and globally. Transportation average up just slightly. That is a really good tell in terms of what traders are thinking around the virus. Risk on for tech and big internet stocks. Overall, we will give it a risk on star. Caroline we are excited to see how it lines up tomorrow. That of course honey holiday for many with that of course on a holiday for many. Of course, it was a day of politics as well. The Senate Judiciary committee wrapped up day one in the confirmation hearings for judge Amy Coney Barrett. They erected into a partisan clash. Bigsenators, both facing elections in coming weeks, senator Lindsey Graham of south kamala harris, the democratic Vice President ial candidate, pulls no punches. Vacancy from a Great American woman and we are going to fill that vacancy with another woman. A nominee that will take Health Care Away from people in the middle of a deadly pandemic that is already killed 214,000 americans. Caroline insight now from someone who has voted on a dozen Supreme Court nominations. He was considered an architect for many of the parts that make up the health care system, former montana senator max bauc us. Was it more volatile than expected or less . Mr. Baucus the gorilla in the room is november 3. The election for u. S. President and the senate and house. The first nominee that came before me on the Judiciary Committee was justice oconnor. Times were so different back then. There was no politics involved. Inquiries into the confidence of integrity, temperament of a nominee. Judgment we passed on as senators. Supported 990. Contrast that with the hearing today. Covid leaves a cloud in the room and the country. Notnd, republicans are looking to ask questions, they just want to get her voted on as quickly as possible. Democrats know they do not have the votes to stop her, so they are using the opportunity to criticize trump and his probability of overturning the Affordable Care act if he is elected president and that judge barrett may also rule if she is on the court to overturn the Affordable Care act. The Supreme Court and federal judiciary has become so politicized over time. Frankly, the court should really be independent, it should be judicious. Large, most of them are good people, they try not to get involved in politics. Time it is unfortunate. Caroline it is interesting, amy pony Amy Coney Barrett herself spoke about the fact that the courts are not designed to be this arbiter of public policy. Courts have a vital responsibility to the rule of law, which is critical to a free society. But, courts are not designed to solve every problem or right every wrong in public life. The policy decisions and value judgments of government must be made by the political branches, elected by and accountable to the people. The public should not expect courts to do so, and courts should not try. Caroline senator, whatever the case, if she does indeed become the next member of scotus, she will shift it to the right. What do you think that means for policy as it regards health care . Mr. Baucus her past opinions indicate that if she is on the Supreme Court, she might rule to overturn the Affordable Care act. Two years ago, she roundly clinton she roundly criticized chief Justice Roberts opinion to uphold the Affordable Care act. All justices are very concerned about their legacy. They want history to speak well of them. They will be taking their job very seriously. Sure, she is a conservative. She wrote that opinion critical of chief Justice Robertss opinion, but she will take that job seriously. And others on the court will too. It is hard to predict the shifts, the changes of different judges, depending upon their skills, how they can persuade other justices to their point of view. I think it is clear that she will be confirmed. She declined to overturn the Affordable Care act. That had very dark implications. It should not be taken categorically that she will rule that way. There are lots of ways to skin a cat. Congress can find other ways to protect Peoples Health care. They can find a way to make sure that preexisting conditions are honored by insurance companies. Things change. She willk that probably be confirmed, and it is sad that the proceedings are so political that we will have to find a way to uphold. Caroline lected if biden is elected, do you anticipate justices to be added to the court . I hope not. The last time it was attempted tried and thatdr got nowhere. But it did have an influence on the court. Subsequent Court Decisions reflected his views. The size of the court has been changed six times in american history. Once you go down the road, it makes it even more political. That sets the precedent. I think it is a bad idea. Gayline you are not only former senator but a former only a former senator but a former ambassador to china. We have seen a rally of the chinese yuan against the u. S. Dollar on this anticipation that a biden win will be gay changing relationship between the u. S. And china. Do you think that will be the case . Mr. Baucus full disclosure, i am supporting joe biden for president. In fact, i am raising money for him. I think there will be a change if he is elected. Undera still, even President Biden, will be concerned with china, concerned with chinas actions in hong kong, American Companies not getting proper market access. Joe biden is very concerned. Approachit will be an that is more stable than the approach of our current president. Tweets, worked to try to find agreements with president xi jinping. With ourill work allies. In europe, japan, south korea. That is going to cause the carefulto be very, very , because they know that if United States and allies are working together, that is a powerful force that will be difficult for the chinese to oppose. Joe biden wants to work with china, xi jinping wants to work with the United States. American business wants to do work in china. Tie. Trong promotional nevertheless, the politics will be difficult. I think President Biden will first focus on strengthening the u. S. Economy, infrastructure, education, etc. , before he makes a big change in policy toward china. It will be difficult and it will not change a lot. Caroline awful lot seem to unravel. Ceo mark, Facebook Zuckerberg changing his stance on Holocaust Denial content after years of controversy. Later, shakeups in the house of mavs. Disney shaking up management ranks. Part of my conversation with disney plus ceo bob chapek. This is bloomberg. Caroline Facebook Says today that it will now ban posts about denial of the holocaust. It is a reversal of a longheld policy. Ceo Mark Zuckerberg was highly criticized in 2017 for saying in an interview that facebook did not remove the content because there are things that different people get wrong. Courts,kerberg himself, course, a jewish leader of the business. Because was surprising just two years ago, he used this specific example as a reason for his defense of free speech on facebook. He said, i will allow people to say this. The fact that he kind of changed his mind on that is a sign that facebook is not starting to look at just free speech as this blanket statement, but really, do these beliefs actually harm people. This could cause some harm. Eloquentlystory so puts, this is not the only form of denial we have seen on facebook. Not at all. We asked, does this new policy cover all types of genocide denial . The company said, no, this is specific to the holocaust. That people could share misinformation about. While this is a step in the right direction, it is never allencompassing. My guesses are is that they may take another stab at some point if they start to see more of this. Saw a statement, Mark Zuckerberg himself took to facebook to lay out his focus on this. Hasaid my own thinking evolved. It already has evolved to a certain extent at facebook, hasnt it . Kurt it has. It has always been said that the best way to change mark give himgs mind is to the data, show him the numbers. A study that facebook conducted that showed about a quarter of people between 18 and 40 thought the holocaust was a myth. If you look at those numbers, this is a dangerous thing to continue to let spread on our service. I think those numbers in particular seemed to really help him make the decision. Caroline we have already seen misinformation regarding q ano o and the like. Is it going to be postelection . Is it all in the runup to the election that these become hot potatoes . Kurt because the election is coming, Mark Zuckerberg himself has said he is worried about civil unrest, violence. I dont know if that relates to Holocaust Denial is a but certainly qanon. I think the last thing they want to do is get to election day, see things playing out, that started because of conversations happening on our service. Caroline always great to see you in the flesh. Eyes on ahead all apple. The stock is up about 6 . Remember, it is a 2 trillion company. More on that next. This is bloomberg. Caroline all eyes on apple tomorrow. The company is set to launch the highly anticipated iphone. Here with a preview and more on what this phone could mean, Equity Research analyst at deutsche bank. For a company with this market cap is phenomenal. Our people getting over excited . The move today and frankly over the course of this year, it certainly highlights that Investor Expectations for the next generation of iphone products are certainly high. Iphone counts as a majority of apples revenue. In this particular cycle, it appears to be pretty packed. You mentioned 5g technology. They also will release a broader variety of screen sizes, the broadest variety in the history of the product. In addition to other features that we think has Investor Expectations relatively high. Caroline to a certain extent, the infrastructure in america is not ready to support it. 5g is fast and furious but only in limited parts of certain cities. How much willie 5g phone really make much difference when you have one in your hands . When we think back to the last time apple materially changed the speed the phone could achieve, people work buying iphones every two years. Now, the average buyer holds it for a long period of time. Future proofing their products here. To hold onto the phone for three or four years, this is a technology they will want to take advantage of going forward. Caroline the infrastructure is there in china. How much will that be a focus . China is a large and meaningful market for apple. It seems to have a luxury presence, luxury perception if you do have an iphone. China is significant especially as 5g is very pervasive. Caroline of course, we have earnings coming in little bit later. What sort of data do you think , theill be able to parse unveiling of their most important feature or product of the year . This will be a very interesting quarter for apple. The iphone as never been delayed this much into the quarter in the history of the product. Typically, that we have been talking a month ago, apple would typically have 56 weeks of real iphoneata about this new with which to forecast what the december quarter may look like in terms of their financials. Next week to a couple weeks from now, apple will have significantly less data, perhaps may be only a week of data to forecast. It will certainly be a different quarter for apple. Well see what happens as we approach earnings. Caroline it will be an interesting day tomorrow. We thank you very much for spending some time with us ahead of that. Some breaking news. President trump has been testing negative for covid according to the white house physician. He has tested negative on consecutive days, we understand. This is important as we see President Trump start to hit the campaign trail once again. But one weektal ago. It was monday this time last week that he was heading back to his residence. Ofing up, an extended period remote work has opened the floodgates to cyber criminals. We will speak to the cloud flare ceo about disruptions and how his company is benefiting. Shares up more than 20 as they launch a new product. What he is seeing in terms of cybersecurity and new product launches. This is bloomberg. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Caroline welcome back to bloomberg technology. I am Caroline Hyde in for emily chang. Cloudflare unveiled cloudflare 1, a new platform aiming to keep the Remote Workforce more secure. Matthew prince, the ceo, the markets are a funny thing but up more than 20 of the day is quite phenomenal. Talk to us about this new network as a service platform. Cloudflare 1, we think of the remote network. Employees andyour secrets into a capsule and that is where you get all your work. That has faced a series of challenges over the last five years where you had almost four horsemen attacking it. Mobile, more people working from the road. C cloud, that data was not stored. Software accelerated it more. And covid has is all working remotely. At cloudflare, there was something we realized we could do about this. Help empower our customers to have a future proof Corporate Network and empower what is known as a zero trust model. That is why we have launched the network which spans over 200 cities around the world to deliver this next generation Corporate Network to all of our customers. Caroline how worried are your customers about the resiliency because so many work from home and will do in the longerterm . Matthew it is one of the things cloudflare celebrated our 10th anniversary. I thought back on how much different the world would have been had we all gone through the covid pandemic in 2010 versus 2020. I think one of the things we are proud of as a companys we have enabled our customers to be able to scale to Unprecedented Demand and also deal would have been incredibly challenging cybersecurity challenges over the course of the last seven months. And our team is proud of that work and our customers are more reliable because we exist. Caroline you have been doing a lot of studies. Any data that really shocks you in terms of how much more instances there are of attacks, phishing, some sort of capability to that veil of security . Matthew i think everyone realized if they were running a Corporate Network before this year was they were really putting bandaids on trying to hold things together with vpns and firewalls and load balancers. They kept a box after box. They saw what the challenges were. People,talk to various almost 80 said they realized what they were doing didnt make sense for the future and they really came to understand that because of what we are living through with covid. By providing this new service, we have been very proud of the customers we have earned and are helping make sure they can continue to thrive during these challenging times. Caroline all of us are not only focused on working from home, covid, but also the president ial election in the United States. Many are worried about the implications for hacking and cybersecurity threats that build up amid the campaigning. Is that something you are seeing or navigating . Matthew in 2016, when we watched the election, we saw other Technology Companies have their platforms be used to subvert the democratic process. We realized we had a duty to do something to make sure that democracy functions the way i