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Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Lovlo in San Francisco. This is Bloomberg Tech.

Coming up, Apple closes a retail store in China for the first time ever what

this means for the iPhone makers plan to revive sales.

Plus, US and Chinese officials continue talks to extend the tariff truce beyond a mid-August

expiring with tech export controls under the microscope.

And we discussed SOFI's second quarter earnings with the CEO, Anthony Nodo, as the stock surges.

Apple's kind of softer down 710 to 1%, a big points drag at the index level,

closing a store in China, which we can get to, and then headlines in the last hour from the Wall Street Journal

that J.P. Morgan is now the frontrunner to take over that Apple credit

card business. There's a lot to discuss. There is, and there's a person to do it with.

Bloomberg's Tom Giles joins us now. And Tom, just first of all, this signal that we're getting,

pulling back from one particular area, bricks and water in China, is it a big deal for Apple?

...