Said he was not surprised President Trumps frustration was manifested in tweets. And men have been detained weapons confiscated after counterterrorism sweeps and france. Citing the paris prosecutors office. The antiterrorism operations come five days before the french president ial runoff. Officials say it is not clear whether the arrests had any link to the campaign. Trying to stem his reach among macron macro and told Marine Le Pen he understands their anger. Polls indicate he has a doubledigit lead over le pen. Global news 24 hours a day powered by more than 600 journalists and analysts in one of 120 countries. This is bloomberg. Live from bloomberg World Headquarters in new york, im julia. On assignmentu is and we are 30 minutes from the close of trading here in the u. S. U. S. Stocks edging higher as tech shares are leading the gains. Joe the question is what did you miss . Earningswill report after the bell and investors will Pay Attention to how they can go beyond those products. Those numbers when we cross. Aetna pulling back from health exchanges. Losses on the business continue to mount. The ceo joins us live later this hour. We will hear from the cio of the secondlargest pension fund on infrastructure and the debate over passive versus active investing. Lets look at where the major averages stand as we head toward the close. Abigail doolittle is standing by. We are looking at what we have been looking at all day. 500ad the dow s p unchanged. The dow in the s p 500 fractionally higher. The nasdaq lower, it is worth noting another record high. Records on hold ahead of the big Apple Earnings report, plus facebook close tomorrow. Stocks, weok at tech are looking at microsoft, which had then earlier after the Company Announced it had 999 laptop making a push into the hardware space. The question is whether or not they could take on apple. Intelligence Analyst Thinks that could be challenging to take on given consumer loyalty. We have those shares lower. Now lets turn to apple. Have shares trading higher into the report which may signify investors could the desk think it could be a good report hitting another record high. Investors are looking at two dollars and two cents, 53 million in revenue, more than 5 growth on the top. Investors are not only looking at what iphone sales did but also service the spirit some are looking at more than 20 growth there. Team, helier told our said this is the big deal, it is expected to be around 250 billion or one quarter of 1 trillion, that perhaps it could be put toward dividends or buybacks. What david would like to see is for apple to acquire a company and he named both netflix and disney so we will see. Of the last five quarters, apple has either moved down by six up 6 . This chart mesa just we could see big moves out of apple tomorrow. A top holding for each major average it could be a huge influence on trading action tomorrow. Joe thanks, abigail. Secondquarter earnings after thebell, this year marks 10th anniversary of the release of the original iphone. Americans have become glued to their phones and other tech services. Of e on the rise marketing at nyuss stern school of business and offer of author of irresistible, the business of keeping us hooked, professor, thank you for joining us. It is the dominant story and earnings and the markets. A few big tech giants demanding an extraordinary share of attention. Where that goes, the dollar goes. That seems to be the way things are the moment. Overnot look like the economy but also, they seem to know exactly what theyre doing and they are directing us and doing exactly what theyre hoping we will do. When we look at apple or facebook, and other platforms, is it the hardware or the software or various other programs . It can be used in any way you choose. A perfect vehicle for software. The software is designed to be irresistible. 40 have some form of internet addiction. Of the the whole member family, every single one of them on the phone not talking to each other. You can make a joke about it being lucrative, but it one point at what point does it bubble further . I do nothing it will burst anytime soon. We know in the last year, americans went from using phones from three hours to four hours a day. Oft is massive and the space one year and it seems to be trending in that direction. I think what a lot of people have this feeling were years ago, they were checking facebook and now checking facebook feels like a chore or even worse, a completely miserable experience, but they dont stop. Is there a nextwave to the cycle . You do not see anything breaking it but you have done a lot of research on it. Are there trends of people who have said no, i will not do it anymore . Are there too few . There are very few, a small number of people. A lot of people are more mindful about the use of tech and they are trying to settle down but not much. And most people only succeed in an order of maybe 5 or 10 . What are companies doing to react . You get to the exhaustion point you are talking about, you really back in because that comes back to advertising as well. Pretty droll. Said is true. They basically have a toolbox, and they keep drawing on them again and again. It seems to be effective. Uncertaining is the andds you get from media you wonder whether people will engage, whether they will reply, humans find that absolutely addictive. We find were fascinated by that more than anything else. I tweeted something a few minutes ago. Im curious how many retweets we have gotten. Yes. It is very powerful. If you have a phone in your pocket and you feel it vibrate, you know there is a message waiting for you. Until you check that message, you will not be up to focus on anything else and they know this. They keep you on the hook. We talk about it with a negative connotation. Drugs, alcohol, gambling. Addiction orative a harmful addiction not only for individuals but for society . We feel our phones and other technology is getting in the way of interactions we are having with other people and it is sometimes costing money. For a lot of people, it is an addiction in the sense of wellbeing . Are they being irresponsible investors, duty to but are they on some level also being worse irresponsible . , republicans will demand these kinds of concerns for the companies. It is clear it is not a major factor. As we demanded environmentally friendly practices, we will start to demand consumer friendly practices. Are there companies trying to buck that trend . Capacity. T want that if you are not one of the companies that targets people, you will go out on business. I do not think there is any. It is very difficult to be that way. Talking about any other sort of addiction, probably some sort of call for a response to it, do you think that is something in the future at some point, that people will sort of freak out, while the rest of us stare at our phones . I do, you mentioned the first iphone is 10 years old, the 10. St born in this era are a generation that looks quite different than any generation before it. At that point, we will Pay Attention. A Public Policy response to rudeness, i love it. I love it. Thank you. Great to be here. Author of irresistible the rise of Addictive Technology and the business of keeping the u. S. Hooked. Up, the companys First Quarter results and the landscape for health care reform. Where does it go . This is bloomberg. At night is reporting healthier profits helped by costcutting measures and lucrative private Health Care Plans for seniors. The Company Continues to face pressure in its obamacare business. Health insurer expects to lose to a detroit 5 million on individual health plans this year for its participating in the aca. David gura is here with all the latest and will be talking to chairman and ceo. Thank you. Great to see you once again, mark. I will describe it to you. Uncle sam looking at your revenues, commercial revenues with government revenues. Commercial revenue is an orange and government revenue and blue. We see in 2017, government revenues surpassing commercial revenues. What does this say about the direction being taken at this point . Going to wear the market need is. Government programs which the government is now funding a lot more products in medicare and medicaid. We need to provide that service. I remind you it was the first medicare financial intermediary back in 1965 when we actually paid the first medicare client. It is not a new business force, we have been in geisha in it for over 50 years. Early lastyear month, you pull out of the financialk citing risk and uncertainty. How uncertain was the landscape and why did you decide to do that . It was a competitive framework there that we were going to be the last full state plan in a lot of ways. Probably more important way, each state has its own notification deadline and we need to get out in front of that are not everybody adheres to the guideline or updated to the june federal guideline. We need to notify them sooner rather than later and we did. On the issue of uncertainty, how do you read what is going on in washington, d. C. . House republicans this week, how does that advance progress this week on changing the Affordable Care act . Do you see that as an important step in that action question mark action . Mark it is but a number of things in the republican bill in the house may not get through the senate here if that is the case, they will need 60 votes in the senate. Sooner or later, we needed bipartisan solution to make it work for all americans. Bipartisanat it was before has made it the political for all it is in the aca. I would encourage everybody working on this to think about what we could do together to fix will need 60 votes sooner or later. I want a sense from you of who in the washington gets it. Making steps in the right direction of fixing it. At the white house, the president tweeted this picture of you and other executives surrounding the oval office. You talked to the president. Does he get it . I think the administration gets the difficulties associated with changing this. Intents and purposes, unless you have 60 votes in the repeal you cannot really obamacare and the aca. We need to fix it or work around the edges. Through the legislative process, it runs a big danger of being picked apart by various factions inside either party. People underestimated the complex of the legislative process. So much of this conversation is focused on subsidies. Im sure you have gained out what would happen to your company were to disappear pier 1 does that look like as you would gaze into the crystal ball . It is only been approved through september. Does not even get you through the plan year and it says nothing about 2018. Unless there are assurances around 2018, price impacts are substantial. It is billions of dollars across the industry. Unless they figure that out and get to it soon, before june, they will have pricing issues paid for either through the or up untilidy september through the cautionary subsidy. Creswell comes to leave for herbal care act, you are still in delaware and nebraska and virginia, should we take that as a sign youre in that marketplace for the time being, for a while now . We are in as much on nationality as we earn more. As these deadlines come upon us and virginia soon, as the deadlines come upon us, we will have to make a decision based on the information that we know with a high degree of certainty at that point in time. There is a version of the future in which at the no longer participates . Yes. Is currently are you actively doing that . R looking into that were always looking into arets, whether they consistent with our strategy, whether there are things to invest in. The group is this has always been off to the side and runs separately on its own. There is some opportunity to mix Care Management programs. We have people approach us from time to time taking a look at it. We have never been able to pull the trigger getting rid of it. You would not regret the overture you made trying to get the merger through. What did you learn from it as you look at growing your Company Going forward, what did you learn from the attempt to grow those companies . We learned a lot from each other. Relationship is as harmonious as ours was, cohabitating for a year and a half, sharing plans and talking about the future shared on either side of the table. Done we have loved to have it . Yes. The fact that we have not done it is water under the bridge and time to move on. There is news about health care today. Mario is out, john is out, the brothers running that company no longer in the business of ceo and cfo. Is that a company you might be interested in acquiring . I will not say anything about m a, but im currently occupied within a job. Organic growth Going Forward . What sort of growth do you see Going Forward . I think organic growth will be really important and i think it has to go down to the market level and into the community and we have to me more engaged at the Community Level if we will understand how we grow our products. On the upper west side, they are different stores. We will have to be that way in communities while addressing issues related to the social factors that affect peoples lifestyle. In thoseires us to be communities. That will be an important part of how we move forward with organic growth. Secondly, there will be vertical integration in the industry. They give us an opportunity to look at things like dialysis, as a way of providing services to those people at costs lower than now. Will you tell lawmakers now as they continue to wrestle with the Affordable Care act. What to keep in mind . Solution. San they only get sicker. When they have insurance, they have wellness, the ability to do preventative business visits, and it is cheaper and better for individuals and the economy with more productive people. Thank you. Back to you. Joh up next, u. S. Auto sales in 2017. This is bloomberg. Joe of course, we are starting to get a lot of q2 data this week which will culminate friday with the jobs report. In the meantime, we have got automakers talking about u. S. Sales and they were not that impressive. To 2011rt is going back of auto sales. You can see it rising and rising and then we get to this year, and there has been a drop off coming in short of expectations today. Gm,the big names, ford, toyota, all behind estimates. Just one industry but to the extent it says something about the health of the consumer, remember there are all those concerns about auto loans and auto delinquencies. Keep an eye on this, perhaps the weakness in q1 may be bleeding into q2 a little bit. Right. I want to show you the chart i am looking at today which picks up on stronger survey data we got out of europe this morning. We have been so fixated on the politics in europe that we have not been looking at fundamentals and they have been surprising on the top side. It is exactly what you can see here on this chart. It is showing relative surprises on the top side versus what we have seen in the u. S. , which has been disappointing. That is at the widest level positive to europe for two years. The question is, does that tie into the euro and will we see the euro rally as a result . The correlation from this chart is pretty much zero. Do not get too excited on this point. A lot of traders out there are saying the euro is to rally shortterm at the very least. I am zooming back in and looking at apple, which reports after the close trading. Interestingly, very little bearish options activity going into this. If you look at the cost to buy bearish downside protection, it is the lowest versus upside protection in two years as the stock rockets to record high ridges trading today going into earnings. It looks at least priced into the options market. Curiously, very little hedging costs. At least it is not expensive to buy it. The market closes next. This is bloomberg. U. S. Stocks the s p 500 trading four points, of a new record, while tech shares led gains as we await earnings in a half an hours time. I am julie julie im julie hyman. Joe im joe weisenthal. If you are live on twitter, we want to welcome you to our closing bell coverage. Every weekday, 4 005 00 eastern. Take a look at her stocks are settling as we close out the session. We have not seen that Much Movement today. We have seen bouncing around between gains and losses. Mastech well almost nasdaq might get that record close. Gains only four points into the close on the strengths us of some of these technology shares. It has been a day of earnings moves, not much move on the movemente, definitely on individual stocks. Coach, the best performer in the s p 500 index today, huge gain their. 11 . Coach has been discounting quite a bit. Apparently cut back on that discounting a little but this court. Profit estimates profit beats estimates. One Company Reported a its first decline in market advanced micro devices, tumbling by 24 . Down 9 on the year. Strengthen technology today, lets take a look. Ofle shares up up 6 10 1 . Facebook and alphabet up as well, all three trade at record highs. Partof things, but of the things helping contribute saying thifangs. Joe Government Bond market fairly quiet, the claimant yields in the u. S. Two and 10 front, 10year below 2. 3 , greek 10year assets rallying bigtime. Looks like greece is getting ,loser to another bail out deal getting more bailout money. We saw a huge rally in stocks. Was take a look at currency markets. U. S. A problem for the dollar. Its a mixed bag. Exceedinging risk what we are seeing an dollaragain. Dollaragain at a six week dollaryen at a six week high. A lot of traders out there saying we could see particularly if we do not see the dollar pickup steam. Sterling, threeyear high and manufacturing growth from the pmis this morning, popping above 129. Joe on commodities, interesting moves. ,rude oil was the big story survey showing expected gains and inventory. Oil down 2. 5 , gold didnt do much. Live cattle as where the action is. Julie i love when you bring in these commodities. Joe we dont talk about it enough. [laughter] cattle rallying 2 . Yesterday turned a surge. They gave a little bit back today. I want to take a onemonth look at crude oil. E can see it tumbling couple weeks ago back in the low 50s. But selling again. Keep an eye on that oil. And those are todays market minutes. Lets take a deep dive into the bloomberg. You can find the following charts at the bottom of the screen. Im so glad you talked about commodities, joe. Tha