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Speaker 1: He's a Bloomberg Business flab from Bloomberg World Headquarters. I'm
Speaker 1: Charlie Pellot. The Dow, the SMP, NEZ, Dack, they are
Speaker 1: all moving a lower right now, holding close to records.
Speaker 1: With the SMP down a point at twenty four thirty seven.
Speaker 1: That is a drop of less than one tenth of
Speaker 1: one percent, the Dow down six, also a drop of
Speaker 1: less than one tenth of one percent, NEZ stacked down
Speaker 1: three down one tenth of one percent, the tenure down
Speaker 1: five thirty seconds, with the yield of two point one
Speaker 1: eight percent, Gold up a dollar twenty ounce to twelve
Speaker 1: eighty one, hard by one tenth of one percent. West
Speaker 1: Texas Intermediate crewed now down twenty eight cents of our
Speaker 1: forty seven thirty eight on w t I. That is
Speaker 1: a drop of six tenths of one percent. I'm Charlie Pellett,
Speaker 1: and that's a Bloomberg Business flash. All right, Charlie, thank
Speaker 1: you very much. You're listening to Bloomberg Markets on Bloomberg Radio.
Speaker 1: It is eleven ft eight in a bay area and
Speaker 1: to eight on Wall Street. The following is from Bloomberg
Speaker 1: View Opinions in commentary from Bloomberg columnists. I Megan mccartell,
Speaker 1: columnist from Blomberg View. Is the day of the Congressional
Speaker 1: Budget Office come and gone. That's the pronouncement of McK mulvaney,
Speaker 1: the director of the White House's Office of Management and Budget.
Speaker 1: Mulvaney argues that the CBO is biased, and of course
Speaker 1: it must be somehow it's made up of people not
Speaker 1: calculating machines, but it's not really a reason to write
Speaker 1: the CBO off. Mulveney's proposed solution turned legislative analysis into
Speaker 1: a hobbsy and war of all against all, with competing
Speaker 1: ideological interest groups and politicians producing independent scores of legislation.
Speaker 1: Miss is the fundamental point of having the CBO, which
Speaker 1: isn't that its estimates are precisely right, but that they're consistent.
Speaker 1: Consistency is tremendously valuable, and working with data so valuable
Speaker 1: that analysts have to think hard about switching to a
Speaker 1: new estimation method that will break their data series, even
Speaker 1: if the new estimation methods more precise. Perhaps most important
Speaker 1: of all, the CBO is the only player in the
Speaker 1: process that's not starting from an outcome to support a
Speaker 1: bill or to oppose it, and then working acords to
Speaker 1: a model that will support it, that has enormous value,
Speaker 1: even if the score is sometimes miss the mark. Megan
Speaker 1: mccartoll columns from Bloomberview. More commentary go to bloom Review
Speaker 1: dot com or view go on the Bloomberg terminal. This
Speaker 1: has been Bloomberg View and Bloomberg View commentaries can be
Speaker 1: heard every week day at this time, also at five
Speaker 1: forty am, eight forty two am, and eleven forty am
Speaker 1: Wall Street Time right here on Bloomberg Radio. Have You
Speaker 1: Got the Job? Dr Drey is my personal favorite of
Speaker 1: a California song, But that one comes Quay second, and
Speaker 1: let's bring in now of course, our editory Large, Korey Johnson,
Speaker 1: Bloomberg News Editor at Large, is at the Annual Developer
Speaker 1: Conference of Apple in San Jose. Corey, what is the
Speaker 1: vibe like, the anticipation? Is it palpable? Well, it's the
Speaker 1: events well underway. In fact, is actually kind of running along.
Speaker 1: So I think a lot of the big announcements have
Speaker 1: have happened, and there are a lot of them. Interestingly,
Speaker 1: this gathering of software developers are hearing about a lot
Speaker 1: of hardware, some hardware to come, not a lot about
Speaker 1: the phone device itself. We expect a new phone in
Speaker 1: the fall, but a complete revamp of of the the
Speaker 1: MacBook line. Two new iPads just announced moments ago. Uh
Speaker 1: and some really interesting announcements as it relates to sort
Speaker 1: of software developments. Uh. And and changes in the iOS
Speaker 1: software Like what like what you said, I want spacifics,
Speaker 1: I want down and I want that train or whatever
Speaker 1: that Here's what that is. A that is a train
Speaker 1: going by. We already down in downtown San Jose and
Speaker 1: we have been here since since sunrise this morning. Um,
Speaker 1: the and the crowds were here, you know, even at
Speaker 1: five am this morning. It's kind of interesting to see
Speaker 1: this big crowd here. But uh, here's one so Siri, right,
Speaker 1: so serious. This thing that Apple first used, you can
Speaker 1: only use it on the on the Apple device itself.
Speaker 1: Then they introduced about a year ago the ability to
Speaker 1: use it with some apps like Lift or uber or
Speaker 1: uh um, some of the chatting apps of end Mo
Speaker 1: and PayPal. Well, now they're opening up Cyri to a
Speaker 1: lot more apps. So these developers they can suddenly start
Speaker 1: to use voice controls within their apps and start to
Speaker 1: think about ways that they can develop new kinds of
Speaker 1: apps using Siri. They just announced something that that would
Speaker 1: be meaningless to the three of us, but an actual tools,
Speaker 1: a set of tools within the MAX software to help
Speaker 1: people develop it within the iOS software to develop three
Speaker 1: D augmented reality things. Things like that. We're so difficult
Speaker 1: for the geniuses behind Pokemon Go. Now with just a
Speaker 1: couple of clicks, people can develop new augmented reality apps.
Speaker 1: You could hold your phone up and as you turn
Speaker 1: and see all kinds of imaginary things that aren't. They're
Speaker 1: really cool stuff, but to make the programming that really simple.
Speaker 1: So the developers are developing lots of cool stuff, but
Speaker 1: developing it for the iPad or the iPhone. I mean,
Speaker 1: of course this comes off to this way. The developers
Speaker 1: conferences we've had, the Facebook found Microsoft, they've been taking
Speaker 1: up a r VR AI, just as you took about it. Now, Corey,
Speaker 1: what about the hints towards particularly the AI part you're
Speaker 1: talking about Siri? Are we gonna get there for this
Speaker 1: smart speaker? Und failed today? I don't know yet. The
Speaker 1: events is still ongoing here. They've been at it for
Speaker 1: almost two hours now and they're only in the five
Speaker 1: of the six promise big updates here, so well, we'll
Speaker 1: see if we get to that. UM the iPad is
Speaker 1: their focus right now. But I think what you're getting
Speaker 1: a real sense of is that is that they really
Speaker 1: do have this holistic view of a world where someone's
Speaker 1: got an iPhone and an iPad and a Mac and
Speaker 1: they're continually upgrading all those devices. And we've seen in
Speaker 1: the real world is that the tablet business has been
Speaker 1: falling off now for a few years running UH, and
Speaker 1: then that's been a problem for them. The Mac business
Speaker 1: has been picking up, which is interesting even as the
Speaker 1: rest of the PC industry is contracting, contracting. UH. The
Speaker 1: devices that they announced today had the MacBooks to day
Speaker 1: now today and the and the Mac Mac PROSDA announced
Speaker 1: today are really really powerful, I mean up there with
Speaker 1: some of the strongest chips that are running Microsoft OS
Speaker 1: and using some of the fastest Intel ships out there.
Speaker 1: So I thought that was a very particularly interesting development
Speaker 1: because they're really trying to hold out of that that
Speaker 1: core um UH developer um UH special effects visual developers,
Speaker 1: people who you traditionally worked on the maximum in recent
Speaker 1: years have shifted away to working in PC stuff. This
Speaker 1: is a really strong effort from the hardware side to
Speaker 1: lure those people back. Hey, Corey, I was talking earlier
Speaker 1: for something that's coming up that we're gonna be doing
Speaker 1: with Bloomberg with the founding CTO of Uber, And when
Speaker 1: he talked about ai UM, he talked in VR. He
Speaker 1: talked about it and saying that I'm not really into
Speaker 1: kind of the sexy applications. It's kind of more mundane
Speaker 1: and and taking some of the legacy industries that are
Speaker 1: out there, like an Uber driving or healthcare or something,
Speaker 1: and disrupting it and really kind of getting the friction
Speaker 1: out of the equation. And I'm just curious, from Apple's perspective,
Speaker 1: is it all about, you know, just being in our homes.
Speaker 1: Are they thinking also on the workplace scale and the
Speaker 1: work place level? Yeah, I think that a lot of
Speaker 1: the things that that are sort of most interesting here
Speaker 1: are the things that we won't see. It's the way
Speaker 1: that they're using machine learnings and things to try to
Speaker 1: anticipate which apps you're going to use next and give
Speaker 1: you additional battery life. Right, That's a machine learning thing
Speaker 1: when they're talking about augmented reality. They're thinking about it
Speaker 1: with games right now, but who knows how the ways
Speaker 1: that that could manifest itself into ways things that are
Speaker 1: seemingly mundane but would have been just impossible for programmers
Speaker 1: to do in the in the past, And a lot
Speaker 1: of what is talked about today are sort of the
Speaker 1: tools and kits that developers can use to just get
Speaker 1: this stuff to market faster. You know. One of the
Speaker 1: big developments of Drew Cheers who is when they promised
Speaker 1: that most apps would be approved in less than twenty
Speaker 1: four hours, and updates would be approved, and updates could
Speaker 1: be rolled out and a tiered level so you didn't
Speaker 1: have to push out a giant update that might crash
Speaker 1: all your servers at once. These are the little things
Speaker 1: that make it possible to have a functional ecosystem around
Speaker 1: developing for iOS and the things that Apple has been
Speaker 1: really clever about in the past has helped the iPhone
Speaker 1: becomes such a big success um and it's and it's
Speaker 1: amazing we're able to do this, Carol with a swarm
Speaker 1: of bees here in San Jose coming down, doesn't Apple
Speaker 1: or maybe maybe they're augmented reality bees. They left Madison Avenue,
Speaker 1: got on a plane and ended up in San Jose
Speaker 1: exactly that would explain everything. Um No, it's a it's
Speaker 1: a it's a trip to stuff and and and again.
Speaker 1: We'll wait to see if there's a speak announce but
Speaker 1: the hardware announced this thing. I think also shows they're
Speaker 1: in a hurry to innovate new stuff that they The
Speaker 1: last round of mac books were criticized for not having
Speaker 1: fast enough chips, and I think they saw that reaction
Speaker 1: in the marketplace, so they didn't want to wait anymore
Speaker 1: to get these things out for a separate product announcement.
Speaker 1: They sandwiched that one in here with these uh this
Speaker 1: this big events as well. Hey Corey, quick quick quick
Speaker 1: twenty second stocks down one percent? Anything though, to get
Speaker 1: investors excited about Apple again. I mean, this just shows
Speaker 1: that the software can be used in lots of different ways,
Speaker 1: lots of different devices. It's only good news for Apple.
Speaker 1: All right, We're gonna leave with there, Hey, Corey, thank you,
Speaker 1: so it's good to have you here with us. Corey Johnson,
Speaker 1: I've been a busy man up early there on the
Speaker 1: West coast tracking that to Apple Worldwide Developers Conference out
Speaker 1: in San Jose. Like Corey Johnson, Editor at Large, co
Speaker 1: host of Bloomberg Markets PM, my co host UH and
Speaker 1: also a big member of our Bloomberg News team. You
Speaker 1: are listening to Bloomberg Markets Carol Master, Caroline Hyde on
Speaker 1: this Monday. Coming up, we'll get a check on trading
Speaker 1: in just a moment. Your top stories to on this Monday.
Speaker 1: This is Bloomberg Radio.