WEBVTT - Israel's Next Move After Attempt on Netanyahu; Stocks at Record

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager.

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<v Speaker 1>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 2>Karen, we begin this morning with the latest developments out

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<v Speaker 2>of the Middle East. Israeli Prime Minister Benjamin NETANYAHUO has

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<v Speaker 2>held a series of meetings planning the next attack on Iran.

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<v Speaker 2>That's after a Hesbala drone exploded next to his private home.

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<v Speaker 2>We get more from Bloomberg's Patrick Sykes in the Middle East.

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<v Speaker 3>The timeline to be clear, I think is still unclear,

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<v Speaker 3>but that series of meetings over the weekend does suggest

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<v Speaker 3>that it's firmly back on the agenda in the security circles.

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<v Speaker 3>There were some leaks over the weekend from the US

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<v Speaker 3>side suggesting that drones would be involved. That would tally

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<v Speaker 3>with the last sort of back and forth earlier this

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<v Speaker 3>year in April, when Israel's thought to have used drones

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<v Speaker 3>to target Iranian radar facility. And then the only other

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<v Speaker 3>lineup over the weekend was the Iranian Foreign minister calling

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<v Speaker 3>any potential attack from Israel against her on a red

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<v Speaker 3>line and promising to reply in kind. So both sides

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<v Speaker 3>keeping up the rhetoric, but it does remain to be

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<v Speaker 3>seen so when exactly it will take place?

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<v Speaker 2>Bloomberg's Patrick Sike says Israel's killing of Hamas leader yach

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<v Speaker 2>Ya sin War was viewed by many as a potential

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<v Speaker 2>turning point, but in the days since combat has intensified,

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<v Speaker 2>with Hesbala and.

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<v Speaker 1>Hamas now to the latest in the presidential race, Nathan.

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<v Speaker 1>With fifteen days until the election, former President Donald Trump

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<v Speaker 1>held a town hall in Lancaster, Pennsylvania. He addressed a

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<v Speaker 1>new line of attack from a Vice president Kamala Harris

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<v Speaker 1>that he's getting tired on the campaign trail.

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<v Speaker 4>I've done cognitive tests.

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<v Speaker 5>I've done him twice and I aced both of them,

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<v Speaker 5>and the doctor in one case said I've never seen

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<v Speaker 5>anybody asom They've never seen anybody.

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<v Speaker 6>As but I'd like to see cognitive.

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<v Speaker 5>Tests for anybody running for president or vice president.

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<v Speaker 1>Later today, Trump will hold a rally in Greenville, North Carolina,

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<v Speaker 1>after heavily criticizing the Biden administration's response to Hurricane Helene.

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<v Speaker 1>He has a series of splashy media events planned in

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<v Speaker 1>the campaign's final days, including a rally at Madison Square

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<v Speaker 1>Garden this Sunday.

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<v Speaker 2>Well Meanwhile, Karen Vice President Harris, visited a black church

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<v Speaker 2>in Stonecrest, Georgia on Sunday and gave an interview to

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<v Speaker 2>the Reverend Al Sharpton on MSNBC. She was asked about

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<v Speaker 2>the former president's quote street talk on the campaign and

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<v Speaker 2>use of vulgar language to describe her record as vice president.

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<v Speaker 7>The President of the United States must set a standard

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<v Speaker 7>not only for our nation, but understanding the standard that

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<v Speaker 7>we as a nation must set for the world.

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<v Speaker 2>Kamala Harris predicted Trump's lack of decorum would be a

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<v Speaker 2>disqualifier with voters. New federal campaign finance filings show the

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<v Speaker 2>Harris campaign raised two hundred and twenty one point eight

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<v Speaker 2>million dollars in September. That's more than three times the

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<v Speaker 2>sixty two point seven million raised by the Trump campaign.

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<v Speaker 2>The latest Real Clear Politics average of national polls shows

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<v Speaker 2>the race still neck and neck, with Harris leading Trump

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<v Speaker 2>by just nine tenths of one percent.

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<v Speaker 1>Let me turn to the markets now, Nathan and Wall

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<v Speaker 1>Street gets back to work with stocks in record territory.

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<v Speaker 1>In fact, the S and P five hundred is coming

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<v Speaker 1>off it's forty seventh record close of the year. Kamal Batia,

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<v Speaker 1>president and CEO of Principal Asset Management.

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<v Speaker 8>Look, I think the markets have very powerful momentum right now,

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<v Speaker 8>not just here but also other parts of the world.

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<v Speaker 8>So I do think the market conditions are perfect for

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<v Speaker 8>equities to do well here, although the valuations are getting rich.

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<v Speaker 1>Principal Asset Managements Kamal Batia notes the S and P

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<v Speaker 1>five hundred has risen for six straight weeks.

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<v Speaker 2>And well, that's raised concerns over valuations. Karen Muddy Waters

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<v Speaker 2>Capital founder Carson Block says most investors would now do

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<v Speaker 2>better to just buy the biggest US stocks.

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<v Speaker 4>There's a FED put.

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<v Speaker 7>There's always a FED put, you know. Does there come

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<v Speaker 7>a point in time when the system breaks and the

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<v Speaker 7>FED can't fix it? Theoretically yes, in our lifetimes.

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<v Speaker 4>I don't know.

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<v Speaker 7>So I think for now it probably pays not the

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<v Speaker 7>thing too much, just close your eyes and buy, you know,

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<v Speaker 7>probably mag seven.

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<v Speaker 2>Muddy Waters Capital founder Carson Block also tells Bloomberg the

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<v Speaker 2>China stock market is uninvestable.

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<v Speaker 1>Well, Nathan. The parade of earnings continues, with the number

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<v Speaker 1>of high profile companies reporting this week, including several Down members.

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<v Speaker 1>We get a preview with Bloomberg's Charlie Pellett.

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<v Speaker 9>We'll be getting earnings reports this week from AT and T, Boeing,

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<v Speaker 9>and Coca Cola. It questions about whether the outlook for

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<v Speaker 9>corporate profits justifies current valuations. Quincy Crosby is chief Global

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<v Speaker 9>strategist at LPL Financial.

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<v Speaker 10>This is a market that really is discerning and will

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<v Speaker 10>punish any slight, any slight hint in the guidance that

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<v Speaker 10>doesn't meet ultimately the valuations.

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<v Speaker 9>Also reporting this week ge Tesla, American Airlines and Southwest Airlines.

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<v Speaker 9>We'll also hear from UPS and Norfolk Southern in New York.

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<v Speaker 9>Charlie Pellett, Bloomberg Radio.

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<v Speaker 2>All right, Charlie, thank you. The S and P five

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<v Speaker 2>hundred decade of big gains is about to come to

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<v Speaker 2>an end. That is, according to strategists at Goldman Sacks.

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<v Speaker 2>They say US stocks are unlikely to sustain their above

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<v Speaker 2>average performance as investors turned to other assets, including bonds,

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<v Speaker 2>for better returns. Goldman predicts the SMP will post an

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<v Speaker 2>annualized nominal total return of just three percent over the

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<v Speaker 2>next ten years. That compares with thirteen percent in the

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<v Speaker 2>last decade and a long term average of eleven percent.

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<v Speaker 1>Well Nathan and company news shares it boeing up almost

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<v Speaker 1>four percent this morning. The Planemaker and the union representing

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<v Speaker 1>thirty three thousand striking members hammered out a tentative new

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<v Speaker 1>accord that not just a pay by thirty five percent

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<v Speaker 1>over four years, but the hourly workers had the final

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<v Speaker 1>say with their vote on Wednesday, and approval is far

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<v Speaker 1>from certain. They overwhelmingly rejected a deal in September.

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<v Speaker 2>Look for a jump in Treasury yields, Skaren. That's the

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<v Speaker 2>call out a t ROW price. The firm says the

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<v Speaker 2>tenure Treasury will test the five percent threshold in the

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<v Speaker 2>next six months off the back of rising inflation, next

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<v Speaker 2>PIT dictations, and concerns over US fiscal spending. The call

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<v Speaker 2>stands out against market expectations of lower yields after the

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<v Speaker 2>Fed cut rates for the first time in four years

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<v Speaker 2>last month.

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<v Speaker 1>Unnice time offert look at some of the other stories

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<v Speaker 1>making news in New York and around the world, and

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<v Speaker 1>for that we're joined by Bloomberg's Michael Laher.

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<v Speaker 2>Michael, Good morning, Good morning, Karen.

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<v Speaker 11>Hurricane Oscar made landfall and Cuba last night, bringing powerful

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<v Speaker 11>winds across the island, which is already experiencing an island

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<v Speaker 11>wide power outage. Senior hurricane specialist Brad Reinhardt, What's.

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<v Speaker 12>Gonna be the biggest problem going forward is the heavy

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<v Speaker 12>rainfall associated with OSCAR. So, I mean it could produce

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<v Speaker 12>rainfall amounts of six to twelve inches with isolated amounts

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<v Speaker 12>up to eighteen inches across eastern Cuba, and so that's

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<v Speaker 12>going to pose the potential for flash flooding and mudslides,

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<v Speaker 12>particularly over areas of mountainous terrain.

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<v Speaker 11>Oscar's maximum wind speeds were eighty miles an hour when

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<v Speaker 11>he made landfall. Investigation has underway in Georgia, where a

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<v Speaker 11>catastrophic dock collapse took place on an island south of Savannah,

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<v Speaker 11>killing at least seven people. Several more were injured. McIntosh County,

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<v Speaker 11>Georgia official Kate Kerwaki says that President Biden has called

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<v Speaker 11>to offer his support.

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<v Speaker 1>I've personally had telephone calls from many elected officials from

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<v Speaker 1>every sector, beginning with our president on down to fellow

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<v Speaker 1>commissioners in our neighboring communities.

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<v Speaker 11>Officials say the ferry bridge was relatively new. It was

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<v Speaker 11>built at the end of twenty twenty one, which raises

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<v Speaker 11>a lot of questions about why it would fail so soon.

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<v Speaker 11>A helicopter crashed into a radio tower in Houston, Texas.

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<v Speaker 11>The pilot and three passengers were all killed when the

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<v Speaker 11>chopper brought down the tower in a Houston neighborhood. Authorities

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<v Speaker 11>and witnesses say the fiery aftermath and debris spread across

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<v Speaker 11>two to three blocks.

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<v Speaker 3>The fire, everything was just someone like, that's what I thought.

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<v Speaker 4>The first thing I thought it with the airplane Houston.

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<v Speaker 11>John Whitmyer, the.

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<v Speaker 5>Residents are secure and safe, but we have a terrible.

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<v Speaker 11>Accident see multiple fatalities. Police say a child was among

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<v Speaker 11>the four killed. President Joe Biden's administration unveiled a proposal

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<v Speaker 11>today that would require private health plans to cover over

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<v Speaker 11>the counter contraception at no additional cost to consumers. With

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<v Speaker 11>the FDA's approval of Ophil, the US joined more than

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<v Speaker 11>one hundred countries where birth control is already available without

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<v Speaker 11>barriers such as doctor's appointments or parental approval. Global News

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<v Speaker 11>twenty four hours a day and whenever you want it

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<v Speaker 11>with the Bloomberg News. Now, I'm michae La Barr, and

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<v Speaker 11>this is Bloomberg Care.

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<v Speaker 1>All right, Michael Barr, thank you time Now for the

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<v Speaker 1>Bloombergy Sports Update with John stash Hour. John good Morning.

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<v Speaker 6>Didn't want to care of these Mets provided their fans

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<v Speaker 6>with some great womans the past month, but the season

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<v Speaker 6>ended in Los Angeles. The Dodgers won ten and their

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<v Speaker 6>four series wins. LA outscored the Mets thirty seven to seven.

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<v Speaker 6>The LCS MVP with shortstop Tommy Edmund hit over four

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<v Speaker 6>hundred and in Game six, Edmund had a two run

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<v Speaker 6>double the first inning a two run homer in the third.

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<v Speaker 6>Peede Alonzo reflects on what the Mets still accomplished.

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<v Speaker 13>There's so much for us to be proud of what

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<v Speaker 13>we've overcome. How we became like brothers. I mean we

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<v Speaker 13>were just like we accepted everyone for who they were.

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<v Speaker 13>We came together, we gelled, We overcame so much adverseitee.

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<v Speaker 6>It'll be just an interesting offseason for Alonzo. He'll be

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<v Speaker 6>a free agent. Now get ready for the Aaron Judge

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<v Speaker 6>Versus show. Hey O Tani Hype. Yankees and Dodgers start

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<v Speaker 6>the World Series Friday in LA Week seven dugs for

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<v Speaker 6>the Jets and Giants in Pittsburgh, Steelers scored the last

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<v Speaker 6>thirty one beat the Jets thirty seven to fifteen.

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<v Speaker 2>Russell Wilson debuted.

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<v Speaker 6>For Pittsburgh, through for two touchdowns, ran for another two

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<v Speaker 6>more Aaron Rodgers interceptions. That's six in the last three

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<v Speaker 6>games as new teammate DeVante Adams a non factor in

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<v Speaker 6>the Jets have lost four in a row. They're two

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<v Speaker 6>and five, as are the Giants, who are zero and four.

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<v Speaker 6>At Homely Glee scored one touchdown in four home games. Philadelphia,

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<v Speaker 6>led by the ex Giants sake one. Barkley won twenty

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<v Speaker 6>eight to three. Barkley at one hundred and seventy six

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<v Speaker 6>yards exactly one hundred more than the Giants ran four

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<v Speaker 6>Eagles at eight sacks in London. Jacksonville sent the Patriots

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<v Speaker 6>to a sixth straight loss, thirty two to sixteen. The

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<v Speaker 6>Commanders a forty to seven route of Carolina. The Super

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<v Speaker 6>Bowl rematch, like the last time at Kansas City, win

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<v Speaker 6>over the forty nine Ers twenty eight to eighteen. The

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<v Speaker 6>Chiefs were six to oher with Detroit to win at Minnesota,

0:10:36.679 --> 0:10:39.280
<v Speaker 6>case the only team still undefeated. The decisive Game five

0:10:39.360 --> 0:10:42.960
<v Speaker 6>of the WNBA Finals went to overtime. The Liberty prevailed

0:10:43.040 --> 0:10:46.360
<v Speaker 6>sixty seven to sixty two over Minnesota, first championship in

0:10:46.440 --> 0:10:47.360
<v Speaker 6>franchise history.

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<v Speaker 4>JOHNS.

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<v Speaker 2>Stanshawad Bloomberg Sports, Karen and Eda.

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<v Speaker 14>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:10:56.640 --> 0:10:59.439
<v Speaker 14>and around the world on Bloomberg dot Com and the

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<v Speaker 14>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 2>Good morning. I'm Nathan Hager. Israel is honing its attack

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<v Speaker 2>plan against Iran, nearly three weeks after the country's massive

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<v Speaker 2>ballistic missile strike against Israel earlier this month. The latest

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<v Speaker 2>provocation a Hezbola drone attack that breached Israel's air defenses

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<v Speaker 2>and exploded near Israeli Prime Minister Benjamin Netanyahu's home over

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<v Speaker 2>the weekend. For the very latest, we were joined now

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<v Speaker 2>by Bloomberg News Israel Bureau chief Ethan Brunner in Tel Aviv. Ethan,

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<v Speaker 2>good morning. So what is the latest? I understand Israel

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<v Speaker 2>has been going after Hesbola financial institutions in its latest strikes.

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<v Speaker 4>That's right, Nathan, they've been.

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<v Speaker 5>They've they announced late last night our time that they

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<v Speaker 5>were about to start doing so, and urging civilians to

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<v Speaker 5>live near the buildings that housed these Al Khard al

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<v Speaker 5>Hassan Association.

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<v Speaker 4>Institutions to get out.

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<v Speaker 5>Of the way, and then they began a pretty heavy

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<v Speaker 5>bombing campaign against them. They argue that this quasi bank

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<v Speaker 5>is in fact the way in which His Blood gets

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<v Speaker 5>its money, and in fact, the US Treasury did sanction

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<v Speaker 5>that organization eight years ago.

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<v Speaker 4>So there's some hitt.

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<v Speaker 2>So what does this tell us, then, ethan, about where

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<v Speaker 2>Israel could be going now against Iran. It's been nearly

0:12:19.559 --> 0:12:23.679
<v Speaker 2>three weeks since that ballistic missile strike, and now this

0:12:23.960 --> 0:12:29.040
<v Speaker 2>concern raised with the latest potential attack coming very close

0:12:29.240 --> 0:12:31.920
<v Speaker 2>to Israeli Prime Minister Netanyahu himself.

0:12:32.880 --> 0:12:35.440
<v Speaker 5>Yes, well, of course it was a His Blood drone,

0:12:36.120 --> 0:12:39.240
<v Speaker 5>you know, not an Iranian drone. But we all know,

0:12:39.440 --> 0:12:42.559
<v Speaker 5>at least Israel says, and we accept on some level

0:12:42.640 --> 0:12:46.000
<v Speaker 5>that Iran is behind his bla very heavily, both in

0:12:46.120 --> 0:12:50.640
<v Speaker 5>terms of arms and money. Iran did distance itself from

0:12:50.679 --> 0:12:55.319
<v Speaker 5>that attack and is trying to keep in theory, you know,

0:12:55.960 --> 0:12:59.760
<v Speaker 5>calm things down. But there's no question that Israel is

0:13:00.080 --> 0:13:03.880
<v Speaker 5>planning some severe counterattack against Iran.

0:13:04.920 --> 0:13:06.360
<v Speaker 4>I don't think it's going to come the next day

0:13:06.440 --> 0:13:06.640
<v Speaker 4>or two.

0:13:06.720 --> 0:13:09.520
<v Speaker 5>We do have Almos Hawksteen, the American envoy to Lebanon,

0:13:09.679 --> 0:13:12.559
<v Speaker 5>in be route today, and we do have Tony Blink

0:13:12.640 --> 0:13:16.160
<v Speaker 5>and the American Secretary of State do here tomorrow. So

0:13:16.920 --> 0:13:20.520
<v Speaker 5>I think that there'll be some diplomatic activity for the

0:13:20.600 --> 0:13:24.280
<v Speaker 5>next couple of days. And don't forget that the Americans

0:13:24.440 --> 0:13:30.120
<v Speaker 5>provided the Israelis with anti ballistic missile defense system which

0:13:30.200 --> 0:13:34.480
<v Speaker 5>is now in place in Israel. So everyone's getting ready

0:13:34.520 --> 0:13:35.680
<v Speaker 5>for something, that's for sure.

0:13:36.040 --> 0:13:36.240
<v Speaker 14>Yeah.

0:13:36.360 --> 0:13:38.760
<v Speaker 2>Have we seen any signs at this point, Ethan, that

0:13:38.920 --> 0:13:42.760
<v Speaker 2>this round of this latest round of diplomatic activity has

0:13:42.840 --> 0:13:46.720
<v Speaker 2>had any impact on what the Israeli security cabinet might

0:13:46.760 --> 0:13:48.320
<v Speaker 2>be planning at this point.

0:13:49.320 --> 0:13:51.560
<v Speaker 5>It's a little unclear. They had a six or seven

0:13:51.640 --> 0:13:55.760
<v Speaker 5>hour meeting late last night and into the morning. Not

0:13:56.440 --> 0:14:00.480
<v Speaker 5>that many details have emerged as we underst stand it,

0:14:00.640 --> 0:14:03.679
<v Speaker 5>They discussed a bunch of things, which does tell us

0:14:03.679 --> 0:14:06.959
<v Speaker 5>a little something about the potential for diplomacy. There does

0:14:07.040 --> 0:14:09.400
<v Speaker 5>seem to be an appetite. I don't know that it

0:14:09.520 --> 0:14:12.719
<v Speaker 5>is overwhelming in the cabinet for some kind of more

0:14:12.800 --> 0:14:17.600
<v Speaker 5>regional deal that involves the hostage is held by Hamas

0:14:17.720 --> 0:14:21.840
<v Speaker 5>in Gaza, the situation at othern Elebanon by his Bellah,

0:14:22.400 --> 0:14:23.280
<v Speaker 5>and you.

0:14:23.320 --> 0:14:25.960
<v Speaker 4>Know, and the Houties and Iran and so on. So

0:14:26.080 --> 0:14:30.120
<v Speaker 4>there was some notion of some kind of a broader deal,

0:14:30.760 --> 0:14:32.560
<v Speaker 4>but it's not very clear what that would mean at

0:14:32.600 --> 0:14:33.040
<v Speaker 4>this point.

0:14:33.280 --> 0:14:36.640
<v Speaker 2>Does that idea of a broader deal imply that the

0:14:37.160 --> 0:14:41.160
<v Speaker 2>death of Hamas leader Sinwar has had some impact that

0:14:41.280 --> 0:14:44.600
<v Speaker 2>it could potentially be that pivot point that a lot

0:14:44.640 --> 0:14:47.840
<v Speaker 2>of people were talking about before this latest drone strike

0:14:47.960 --> 0:14:49.920
<v Speaker 2>on Prime Minister Ntsagna, who's home.

0:14:50.800 --> 0:14:54.600
<v Speaker 5>Yes, I think it does now that, to be fair,

0:14:54.880 --> 0:14:58.720
<v Speaker 5>came on top of the killing of Nostrala, the head

0:14:58.760 --> 0:15:01.960
<v Speaker 5>of Hasballah. Of course those page are bombings and so on.

0:15:02.120 --> 0:15:04.520
<v Speaker 5>So there was a sense in the last month, shall

0:15:04.560 --> 0:15:07.600
<v Speaker 5>we say that Israel, which had felt very much on

0:15:07.720 --> 0:15:10.760
<v Speaker 5>its back foot, had gotten back on the horse and

0:15:10.960 --> 0:15:14.400
<v Speaker 5>was in a position to drive the story, drive the

0:15:14.480 --> 0:15:17.840
<v Speaker 5>diplomacy more in its favor. So and then with the

0:15:17.960 --> 0:15:21.560
<v Speaker 5>killing of Sinhwar, I agree with you, this seems like

0:15:21.640 --> 0:15:24.480
<v Speaker 5>a moment when a number of israel Is again not all,

0:15:24.920 --> 0:15:28.960
<v Speaker 5>not those necessarily far to the right of Natanyahu, but

0:15:29.800 --> 0:15:32.680
<v Speaker 5>many would like to say take the win, let's get

0:15:32.760 --> 0:15:35.800
<v Speaker 5>something going and get these sasages home, and maybe we

0:15:36.360 --> 0:15:40.880
<v Speaker 5>have denatured enough of Hamas to not continue to have

0:15:40.960 --> 0:15:42.840
<v Speaker 5>to go to war against it continually.

0:15:43.480 --> 0:15:46.000
<v Speaker 2>Unfortunately, Ethan, we've only got about twenty seconds left. But

0:15:46.080 --> 0:15:48.720
<v Speaker 2>we heard former President Trump say he's spoken with Prime

0:15:48.760 --> 0:15:52.360
<v Speaker 2>Minister Natanyahu. How is US politics entering into all of

0:15:52.400 --> 0:15:53.160
<v Speaker 2>this if at all?

0:15:54.440 --> 0:15:56.360
<v Speaker 5>Look, I think it is to some extent. I mean,

0:15:56.400 --> 0:15:59.040
<v Speaker 5>we probably need more than twenty seconds to really analyze that.

0:15:59.200 --> 0:16:03.200
<v Speaker 5>But yeah, no doubt that there would be a difference

0:16:03.320 --> 0:16:07.640
<v Speaker 5>between between a Trump and a Harris victory from the

0:16:07.680 --> 0:16:10.440
<v Speaker 5>point of view of Israelis. But I do think both

0:16:10.800 --> 0:16:14.000
<v Speaker 5>potential administrations are likely to want to not be very

0:16:14.080 --> 0:16:17.400
<v Speaker 5>aggressive out here, look more domestically, and I think the

0:16:17.760 --> 0:16:18.400
<v Speaker 5>Israelis are.

0:16:18.320 --> 0:16:18.800
<v Speaker 4>Aware of that.

0:16:19.280 --> 0:16:22.680
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<v Speaker 4>Ray