acquit the president. leader mcconnell called the impeachment charges "constitutionally incoherent." a major american political party adopt the following absurd proposition. we think this president is a bull in a china shop, so we are going to drive a bulldozer through the china shop to get rid of it. most rust,led to the least fair, and least thorough presidential impeachment inquiry in american history. believed thats they don't determine who is president, who is governor, who is senator, that someone out of reach of law enforcement can jaundice our elections, that is the beginning of the end of democracy. is scheduled to

vote on the two impeachment articles wednesday afternoon. new hampshire election officials say the state has kept it simple when it comes to elections and don't expect to encounter problems in next tuesday's contest. new hampshire runs a primary, not a caucus. people will vote on paper ballots. 85% of towns will count electronically. in iowa, the democratic party said a coding issue led to delays in the reporting of the outcomes of yesterday's caucuses. officials say they will release most of the results at 5:00 new york time today. arestigators in bangladesh gathering evidence for evidence of crimes against humanity in myanmar against raw hinge and muslims. had to flee to bangladesh after amendment forces let a crackdown in 2017. the case is being investigated by the international criminal court. it takes on cases when national authorities are unable or unwilling to prosecute alleged

atrocities. global news 24 hours a day, on-air, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. welcome to bloomberg markets. here are the top stories that we are falling from around the world. withstanding the virus on that. u.s. stocks are extending their rebounds as investors pin their hopes on response to the right. the technical snafu at the heart of the iowa caucus meltdown. the new app that was made to

make easier reporting was maybe not ready for prime time. disney set to give investors their first real look at how their new streaming service is faring. get you started with a quick look at where the markets are trading. it is a risk on rally. stocks gaining, treasuries rallying. almost every sector in the s&p 500 is in the green, which is seeing its best day since august. industrials and technology firms are leading the gains. the dow is up 1.6%. the nasdaq composite also touching a record intraday high. in thers taking comfort fact that we have seen numbers coming from beijing on containing the virus. take a look at what commodities are doing. this was interesting this week when we saw this risk on sentiment spread across equity markets but not being

followthrough in the commodities there. we are seeing the commodity index seeing its best day since 2015, this after a stretch of losses we have not seen for a while. ti also above $50 a barrel. copper on its longest losing stretch on record, two weeks of losses, finally seeing some green. the offshore yuan below that seven level. we had seen it at a stronger than seven level. strolling strong signals from the pboc that they are ready to support the markets. amanda: i want to take a closer look at tesla. this one. watching the stock has been gaining, the question is why. noted shortt from a seller, citroen research. we love tesla and promise never to be short again, but when the

computers are driving the market, we believe even elon which short the stock. about the longer technology, it has become the new wall street casino. meanwhile, we did learn today the saudi arabian wealth fund sold some of its stake in tesla as well. markets certainly digesting what it is seeing here. in fact, sold almost all of its tesla shares in the last quarter. luke kawa is following this. let's start with a look at tesla. in the face of what is going on in the markets, all of this uncertainty, this one seems to be divorced from fundamentals. divorced from fundamentals is a great way to start with this. even if you want say that tesla is a half technology and car company, even if you were to mash-up those multiples, it is trading up above those. this is also a stock in 2018, when the rest of the market was

getting down hard, it was not. this stock marches to the own beat of its drummer. that has been on full display over the past month. shery: this chart on the bloomberg showing those wild gains we have seen on the tesla stock, which is now at the most overbought, more than bitcoin, and they are not included on the s&p 500. what would'vee happened to the s&p 500 if they were included? inclusion will00 need a couple more quarters of posting profitability for people to get those passive lows that you need to get in. rsi, we are above 93 now, so accelerating throughout the day. december 2017, when bitcoin peaked around 20,000, that was about 92.

even if you want to go back to the.com era, even things like qualcomm never got this far overbought. one thing i also want to address, talking about what is driving the market, one thing citroen was noting is the computer role that we have all come to terms with. we have been watching the sun groups in the s&p moving in big moves, which suggest momentum. how much do you think is algorithmic, and how much is a good thing, keeping the emotions out of the hands of us mere mortals? luke: there seems to be a kind of self reinforcing mechanism where people have been taking punts on these very cheap calls. start to rise, the associated activity that you would need to hedge on your exposure, if you were the one

that had written that call, would entail a lot of accelerated buying. there seems to be a chicken and egg with regard to that. i think you can just look at the chart and know this is not healthy price action. in the broader context of a market, we are going to have four of the last seven sessions in the s&p 500 with at least a 1% up or down move. we are still in volatile market conditions. shery: we have the chaos in iowa, impeachment, state of the union. is there any more noise for the markets? luke: the markets have been able to take this as positive noise. we have seen the shambles and i will yesterday. by and large, it doesn't look like politics are something that the market is fearing beyond the preparation it's already done, which is a lot of hedging around super tuesday, and around election day that's already been built up. shery: look,, thank you.

let's get to those iowa caucuses. still no result from the iowa democratic party. mostsay they will release of the results by 4:00 iowa time. joining us now is alex. what happened in iowa, what are we expecting, and how could this play into president trump's hands now that he is the state of the union tonight? like the iowa democratic party try to make two significant changes to the caucuses this year, and they both blew up in their faces. the first was this deployment of the phone at four precinct chairman to report the results from their 1600 sites which held caucuses last night. the second was a new method of figuring out who one, tabulating the results from the caucuses. both apparently encountered problems, and now they have to count by hand. i think this helps both donald

trump and frankly, michael bloomberg. donald trump has been having a lot of fun today and his surrogates, making fun of democrats for this disastrous i will caucus. michael bloomberg ordered his staff to double their field operations and poor even more money into advertising. he senses an opening here. as of right now, nobody comes out of iowa with any fresh momentum going into the new hampshire primary. michael bloomberg stayed out of iowa and new hampshire. he is betting on winning on super tuesday nationwide in some of the bigger states around country. for people that follow this closely, that seems to be the important thing, how this changes the momentum of new hampshire. is this relevant? obviously, it's embarrassing, new technology, we worry about a hanging chad, but for the

non-inside the beltway guy, does this matter? >> it will probably be mostly forgotten by the time people have to decide whether or not to reelect donald trump in november. right now, it reinforces this sense among voters that democrats don't really have it all together. the democratic national committee has been struggling, has not been able to raise a lot of money in the last year or so. nobody has really emerged as a front runner in the campaigns. -- some democrats complain that it lacks a candidate like barack obama. what happened last night may reinforce some of those concerns among democrats and other voters about the strength of this party. since youecially already have some security issues in 2016. let dr. about tomorrow, the impeachment vote. the acquittal seems pretty certain.

thatthere be any democrats boat with republican senators at this point? >> the outstanding question is how does mitt romney vote, west virginia's joe manchin vote? he is maybe the most likely. i'm not sure there any others who are considered candidates. maybe kyrsten sinema in arizona. mitt romney has to clear that he will vote to up with the president. he may still be considering where he will land. amanda: our thanks to alex wayne. michael bloomberg is seeking the democratic nomination for president. bloomberg is the founder and majority owner of bloomberg lp, the parent company of bloomberg news. we will bring you special coverage of president trump's state of the union address starting at 9:00 eastern right here on bloomberg television. as the coronavirus continues to spread, is trade and travel

restrictions working? we will explain after this. ♪

shery: this is bloomberg markets. i'm shery ahn in new york. amanda: i'm amanda lang in toronto. 20,600 cases have now been reported of the coronavirus. that's an increase from 17,000 a day ago. countries continue to take necessary precautions to contain it, even as the second death outside of china has been confirmed in hong kong. joining us now is jennifer nuzzo, from the jon hopkins center for health security. -- johns hopkins center for health security. the infections are very high but

the seriousness -- not to minimize any deaths -- is relatively low on a fertility basis. could we see a downgrading of the seriousness by somebody like that who? >> i think you are right, as the cases continue to grow, we look at how many deaths we are seeing. the factor has not been a similar jump in debts has been reassuring, but that doesn't mean the situation doesn't mourn our concern. ,ny number of deaths particularly when we are talking that case numbers that high, is challenging for countries. but it is somewhat reassuring that we are seeing deaths have not climbed as quickly as they could have. we are also seeing milder cases showing up in other countries. that is giving us some reassurance. there will still be challenges dealing with the virus, even with a lowercase fatality, but certainly should somewhat assuage our concerns. shery: what about the trade and

travel restrictions we have so far? many countries imposing them. how effective will they be? i understand countries interest in wanting to keep the virus out. it's a common instinct anytime we have a virus like this. but if we look at evidence and past experience, these measures are not likely to do that. the who has already considered this and said countries should not do this. they actually worry it could exacerbate the threat of the disease by making it harder to get people and supplies to where they are needed, and also countries that have not reported cases are less likely because they are worried about the economic damages. this is also something that we tried. a selectivere was pandemic, and a number of countries try to restrict travel america, where the virus was first identified here

in the united states. they attempted to quarantine planes coming from america. they found these measures didn't work, probably exacerbated the toll of the epidemic, and certainly did not prevent the introduction of the virus. things thatof the seems clear year is there is a concern longer-term about some form of pandemic. i've heard experts say it is when, not if. regardless of how this continues to unfold, is there some kind of benefit in going through these exercises, so the preparedness gets better every time? jennifer: certainly, this will require a response from us, as we been doing. the people who are raising the possibility of a pandemic are looking at how the cases have been spreading. yesterday there were 23 countries reporting cases. jumpep seeing case counts every day despite aggressive measures being taken by governments. when you have this many infections spread out across the

globe, as it has been, that really makes you think that we are entering a pandemic phase, if not already in one. we willy, something have to think about, but what is significant is, if we believe we are entering pandemic, that means we should be shifting our try not to put all of our emphasis in trying to keep the virus out. todemic viruses spread quickly and to silently to be able to do that. but to focus on how we reduce the spread in our community, check the people that we think are most at risk of becoming ill and dying. especially important is not to interrupt global trade and travel, which could make it fromcult to get medicines her they are made, which in large part is china. shery: everyone is focused on the minimizing the impact of this virus, but it's important to talk about the causes, how it

originated, and how we can prevent another one. china is saying it will ban the trade of wild animals. how important is that when we say that this could have originated from bats, like sars did in 2003? jennifer: it's a little early to speculate. it is important to find the origin of this virus. we are increasingly confident it came from an animal of some sort. we don't know if it was direct from bats to humans. it's a little early to make predictions about how we can stop it. certainly, the studies that need to happen in order to figure this out. we live in the age of viral emergence. if not trade of wild animals, it's also the fact that we are changing the way that we do plans. people are coming into contact with wild animals in ways that they didn't in previous years.

while i think it's important to look at all the causes of the spillover, when viruses jump from animals, we have to take a holistic approach. markets may be part of it, but it could be other things we have to address. shery: jennifer nuzzo, thank you for joining us. the bloomberg school of public health is supported by michael bloomberg, founder of bloomberg lp, and bloomberg philanthropy. breaking news. we are hearing the head -- the u.s. had of softbank's vision fund is leaving after expressing concerns about issues at the tech giant. the former goldman sachs banker who joined in 2017 telling the financial times he has been negotiating the terms of his departure for several weeks. we know that the vision fund, soft bank have been facing a series of investments that have shaken the confidence in the vision fund and the founder has

struggled to raise money outside .apital for its vision fund this is bloomberg. ♪

shery: disney is about to get a first real look at how is new streaming service is faring. they report first-quarter earnings this afternoon. shares of the entertainment titan climbing in recent days. paul, it seems investors are pretty optimistic about the new streaming service. >> they got off to a good start, 10 million subscribers in the first week. a lot of momentum building from there. that scriber be a big story. also, the path of profitability for the service. to issue that investors had deal with, this streaming is very expensive. it takes a while for the paying

subscribers to ramp up. it will not be profitable for three or four years. people want an update on that and how the service is ramping. amanda: that will be one of the big questions. disney, because of its studio business, knows well getting the cost side of the equation is pretty important. what will they need to say about number of subscribers versus how sticky they are over the long-term? >> that will be important for all streaming companies. as we see new entrants every single day, it seems like, one of the issues will be churn. do i watch a streaming service for a particular show and then cancel after? they make it easier to cancel than a cable since gretchen, for example. investors who are pretty good about disney in terms of the streaming business, simply because they have such outstanding programming, that should keep people on the service for a long period of time. they are also bundling with

espn, hulu, offering an attractive bundle there. amanda: paul sweeney, we appreciate it. i want to look, back at u.s. equity averages. we have seen them surging, the s&p best day since august. a check on the markets as we had to break. from toronto and new york, this is bloomberg. ♪

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sometimes your small screen is your big screen. and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. whether you're travelling around the country or around the house, keep what you watch with you. download the xfinity stream app and watch all the shows you love. mark: i am mark crumpton with first word news. the democratic party is going to release most of the result from the caucuses by 5 p.m. new york time today. troy price said they worked

through the night to check the quality of the results and collect any data it did not already have. joe biden's campaign is pushing back saying it is worried about the accuracy of the results. president trump will pivot tonight from impeachment to his drive for reelection. he will deliver the annual state of the unit address. the theme is the great american comeback. he will speak before congress. tomorrow they are expected to includ acquit him tomorrow. a second death from the coronavirus reported outside china. they said the victim was a 39-year-old man who had an underlying illness. china says the number of confirmed cases is more than 20,000. at least 425 people have died. to stem taking steps the spread of the virus.