Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today, Karen.
Speaker 2: We began in Chicago for nine two of the Democratic
Speaker 2: National Convention, taking center stage former President Barack Obama and
Speaker 2: former First Lady Michelle Obama. The Chicago Natives highlighted Kamala
Speaker 2: Harris's vision for the country while directing sharp jabs at
Speaker 2: former President Trump. Former President Obama praised Harris as the
Speaker 2: party's future.
Speaker 3: Discourage and conflict, fighting disease, promoting human rights, protecting the
Speaker 3: planet from klimate change, the feminine freedom, Brooklyn peace.
Speaker 4: That's what Kanada.
Speaker 5: Harris Bill is, and so the most America.
Speaker 2: And the former president called Donald Trump a billionaire who
Speaker 2: has not stopped whining about his problem since he sought
Speaker 2: the presidency in twenty fifteen.
Speaker 3: There's the childish nicknames, the crazy conspiracy theories, this weird
Speaker 3: obsession with crowd sizes.
Speaker 2: Along with Barack Obama, his wife Michelle drew huge applause
Speaker 2: with a jab at Trump's promise to deliver more quote
Speaker 2: black jobs.
Speaker 6: Who's gonna tell him, Who's gonna tell him that the
Speaker 6: job he's currently seeking might just be one of those black.
Speaker 2: Jobs, and along with Michelle and Barack Obama, featured speakers
Speaker 2: on the night included Vermont Senator Bernie Sanders and Illinois
Speaker 2: Governor J. B.
Speaker 7: Pritzker.
Speaker 1: Well Nathan After making a surprise appearance on the first
Speaker 1: night of the DNC, Vice President Harris was absent last night,
Speaker 1: but she wasn't too far away. Harris and her running
Speaker 1: mate Tim Watz, We're holding a campaign rally in Milwaukee.
Speaker 1: The Harris campaigns hoping to rebuild the multi ethnic, multi
Speaker 1: generational coalition that elected Obama twice. And in the latest
Speaker 1: Bloomberg Morning Consul pull Harrison Trump or in a statistical
Speaker 1: dead heat in the swing states that will likely to
Speaker 1: sign November's election. The statistical margin of error is plus
Speaker 1: or minus one percentage point across the seven swing states.
Speaker 2: Meanwhile, Karen Trump is testing out new messaging for his
Speaker 2: third presidential campaign. Bloomberg's At Baxter has that story.
Speaker 8: Trump is trying to change his strategy midstream, with the
Speaker 8: other side talking about unity and about him being a
Speaker 8: divisive figure participating in culture wars, so he is now
Speaker 8: saying he is not radical. Quote, I'm just a common
Speaker 8: sense person that has been successful. Common sense. He's been
Speaker 8: in Michigan talking that regarding law enforcement.
Speaker 4: This is a very dangerous time that we're in.
Speaker 1: It's dangerous in terms of crime and all, but it's
Speaker 1: very dangerous in terms of impossible World War three.
Speaker 8: He also says about the party Conservative, Yeah, I guess conservative.
Speaker 8: It doesn't matter at Baxter Bloomberg Radio.
Speaker 2: Right, thank you, and as the name gets to know,
Speaker 2: Trump's running mate JD. Vance, along with Harris's running mate
Speaker 2: Tim Waltz, the Ohio Senator, is off to a rockier start.
Speaker 2: A new poll from the Associated Press and NRC Center
Speaker 2: for Public Affairs Research shows about one third of American
Speaker 2: adults have a favorable view of Waltz twenty seven percent
Speaker 2: have a positive view of Vans. Both are well liked
Speaker 2: within their parties, but significantly more adults have also have
Speaker 2: an unfavorable view of Vance than Waltz. The poll's margin
Speaker 2: of area is plus or minus three point eight percentage points.
Speaker 2: Waltz speaks at the DNC tonight on.
Speaker 1: Nathan turning to the Middle East. Now, US Secretary of
Speaker 1: State Anthony Blincoln left the region after failing to secure
Speaker 1: a deal to stop the fighting between Hamas and Israel.
Speaker 1: Before boarding a plane to Washington, Blincoln emphasized an urgent
Speaker 1: need for a peace deal.
Speaker 3: Our message is simple, it's clear, and it's urgent.
Speaker 8: We need to.
Speaker 3: Get the ceasefire and hostage agreement over the finish line,
Speaker 3: and we need to do it now.
Speaker 1: And Secretary of State Blincoln met with Egyptian and could
Speaker 1: try officials before returning home. It marked is Nei the
Speaker 1: trip to the Middle East since the war began last year.
Speaker 2: Well, saying overseas, Karen, we continue to follow the tragedy
Speaker 2: off the coast of Sicily. British tech tycoon Mike Lynch
Speaker 2: is one of six people feared dead after a storm
Speaker 2: sank the luxury yacht they were on. Earlier this week.
Speaker 2: Morgan Stanley International chairman Jonathan Bloomer is also among those
Speaker 2: missing six. The Italian Coastguard says it will continue the
Speaker 2: search for the sunken wreckage today.
Speaker 1: Well, turning now to the economy, Nathan, Traders are gearing
Speaker 1: up for a key speech from FED chair j Powell
Speaker 1: at Jackson Hole this Friday. Bond traders are currently taking
Speaker 1: on a record amount of risk with leverage positions in
Speaker 1: Treasury futures sitting at an all time high. It marks
Speaker 1: a big bet that the Fed's readying to cut interest rates.
Speaker 1: Bloomberg Chief economist Anna Wong says she expects Powell to
Speaker 1: deliver a dubvish signal on Friday.
Speaker 9: I think Powell will declare that the balance of risk
Speaker 9: between the full employment and at price stability mande is
Speaker 9: about e now, and we have complete the economy has
Speaker 9: completed the process of normalization, and basically he just I
Speaker 9: think it's a green light for right cuts in the future.
Speaker 1: Bloomberg Chief economist Anda Wong says traders will get further
Speaker 1: clues on possible cuts later today when the FED issues
Speaker 1: minutes of July's policy meeting. Make sure to catch a
Speaker 1: special edition of Bloomberg Surveillance Lie from Jackson Hole That's Friday,
Speaker 1: starting at nine am Wall Street Time on Bloomberg Radio
Speaker 1: and television.
Speaker 2: The Karen Traders are also closely following Fed speak for
Speaker 2: more clues on potential right cuts. FED Governor Michelle Bowman
Speaker 2: said she would support decreases if growth in prices slows further.
Speaker 2: Bowman spoke at the Alaska Bankers Association Anchorage. She also
Speaker 2: warned of upside risk from geopolitics and increased housing.
Speaker 1: Demand, and turning now to a key ruling in Texas Nathan,
Speaker 1: a federal judge has ruled the US Federal Trade Commission
Speaker 1: cannot enforce its near total ban on non compete agreements
Speaker 1: because the agency lacked the thirty to enact the rule.
Speaker 1: Judge Ada Brown in Dallas said the FTC's rule is
Speaker 1: unreasonably over broad. It prevents the agency rule from going
Speaker 1: into effect in September. The FDC said it's considering a
Speaker 1: potential appeal.
Speaker 2: Let's get to some company news now. Karen Walmart raised
Speaker 2: as much as three point seven billion dollars selling its
Speaker 2: stake in Chinese e commerce firm JD dot Com. The
Speaker 2: company's Hong Kong listed shares fell as much as twelve
Speaker 2: percent on the news. It's assigned Walmart is refining its
Speaker 2: strategy in China, which continues to face economic headwinds well.
Speaker 1: Also on the company news from Nathan, Netflix shares hit
Speaker 1: their first record in three years, taking out a high
Speaker 1: that stood since late twenty twenty. It comes after the
Speaker 1: streaming giant disclosed on more than one hundred and fifty
Speaker 1: percent increase in upfront ads sales commitments compared to twenty
Speaker 1: twenty three.
Speaker 2: And we got some big news this morning for our
Speaker 2: listeners in New England, Karen, because Bloomberg one oh, six'
Speaker 2: one and thirteen thirty are moving to ninety two nine
Speaker 2: FM this morning. But September third is when you can
Speaker 2: start listening to Bloomberg Radio in and around Boston on
Speaker 2: ninety two to nine FM, your new source for business
Speaker 2: news from the financial center of New England. Bloomberg Radio
Speaker 2: coming to ninety two nine FM noon the day after
Speaker 2: Labor Day.
Speaker 1: Ye time over look at some of the other stories
Speaker 1: making news in New York and around the world, and
Speaker 1: for that were joined by Bloomberg's Michael Barr Michael, good morning, Good.
Speaker 10: Morning, Karen. There were other speakers as well. During the
Speaker 10: second night at the Democratic National Convention. Senator Chuck Schumer
Speaker 10: of New York agreed with former President Barack Obama and
Speaker 10: First Lady Michelle Obama this is not the time to
Speaker 10: sit back and coast. After his speech, the Senate Majority
Speaker 10: leader spoke to ABC.
Speaker 7: Nobody does it better than Obama, but Michelle came real close.
Speaker 7: I mean, they were incredible and appealing both to the
Speaker 7: the problems of what a Trump administration would do.
Speaker 10: On Monday night, New York Representative Alexandria Ocassio Cortes spoke
Speaker 10: calling on Democrats to make history on November fifth. Now
Speaker 10: that New Jersey Senator Bob Menendez is now out of
Speaker 10: a job after his conviction on corruption charges, Senators have
Speaker 10: to figure out who will fill his seat on some
Speaker 10: powerful committees. Senate Democrats will likely use and interim appointee
Speaker 10: to fill those seats on the Finance, Banking, and Foreign
Speaker 10: Relations committees when the chamber returns early next month. An
Speaker 10: emerging short term option would be to hand the assignments
Speaker 10: to Democratic Senator designate George Helming, who new Jersey Governor
Speaker 10: Field Murphy appointed as a temporary replacement through the November
Speaker 10: general election. An explosion destroyed a Pennsylvania house, killing one
Speaker 10: person and injuring another. Firefighters in Lackawana County put the
Speaker 10: flames out at home in Jefferson Township. This neighbor felt
Speaker 10: the blast.
Speaker 11: I was mowing my backyard and I was head of
Speaker 11: this direction and basically just a huge boom.
Speaker 10: Investigators initially leave a pro pane leak in the home
Speaker 10: caused the blast. And Independent Commission released its report on
Speaker 10: the serial shooting in Lewiston, Maine, last October, which killed
Speaker 10: eighteen people and injured thirteen others. Dan Wathaon, chairman of
Speaker 10: the Independent Commission that investigated the shooting, says Robert cart
Speaker 10: was solely responsible for the shooting spree, but saying opportunities
Speaker 10: weremissed before the attack. Watham says the Army Reservist superiors
Speaker 10: failed to share information with the local sheriff's office about
Speaker 10: cards threatening and aggressive behavior and his collection of guns.
Speaker 11: The Army Reserve neglected to share all the information relating
Speaker 11: to cards threatening behavior with the sheriff's office and discouded
Speaker 11: some of the evidence about the threat He polls.
Speaker 10: Global news twenty four hours a day and whenever you
Speaker 10: want it with Bloomberg News Now. I'm Michael Barne. This
Speaker 10: is Bloomberg.
Speaker 1: Hearen, hurry, Michael Barr thank you Bes. Time now for
Speaker 1: the Bloombergs Update with John Stashauer.
Speaker 4: John, good morning, Good morning, Karen. With extra innings continuing
Speaker 4: to begin with the runner at second base. Games don't
Speaker 4: normally last twelve innings anymore. Of the Yankees and Guardians
Speaker 4: did go twelve at the Stadium, longest game played in
Speaker 4: the Majors this season in Cleveland, erupted with six runs
Speaker 4: in the twelfth David fry At a three run trip
Speaker 4: with the Guardians one nine to five, a game that
Speaker 4: saw sixteen different pitchers used. Thirty two runners were left on.
Speaker 4: Bajuan Soto and Aaron Judge began the night with back
Speaker 4: to back first hitting homer, Soto's thirty fifth the season
Speaker 4: to tire career high number forty five for Judge. The
Speaker 4: rare knight that saw both New York teams play at
Speaker 4: home at Cityfield. Baltimore led seven to one in the
Speaker 4: fifth inning. Mets scored four in the eighth JD. Martinez
Speaker 4: At a three run homer, but the Orioles won nine
Speaker 4: to five, and they moved back ahead of the Yankees
Speaker 4: into first place in the Al East. Mets fall two
Speaker 4: and a half behind Atlanta for the last playoff spot.
Speaker 4: Braves beat the Phillies three to one. Atlanta just lost
Speaker 4: third baseman Austin Riley for the rest of the season
Speaker 4: broken hand. They have signed one time Yankee, Geo or Sela.
Speaker 4: He just got released in Detroit Red Sox, the ex
Speaker 4: met Dom Smith. The Stots one, six to five in Houston.
Speaker 4: Jaron Durant four hits, including the go ahead home run
Speaker 4: eighth inning. Jets the Giants course Sheriff Stadium. They'll play
Speaker 4: a preseason game there on Saturday today, a joint practice
Speaker 4: between the two New York teams. Here's Aaron Rodgers.
Speaker 12: Excited to see see Elik. You know, see what he's
Speaker 12: on about. A good opportunity for end. We're going to
Speaker 12: get some, you know, our premier corners. And anytime you
Speaker 12: get teams together, it's always interesting you see how it
Speaker 12: shakes out as far as you know, personalities and pushing
Speaker 12: and shoving, and there's you know, there's a fear of
Speaker 12: somebody throwing a punch.
Speaker 4: And Rodgers was referring to the Giants. Rookie white Out
Speaker 4: maleak Neighbors US Open starts Monday. Yannie Center is the
Speaker 4: men's top seed. He tested positive for steroids this past spring,
Speaker 4: but it's been ruled and it was in his system unintentionally.
Speaker 4: Center will be allowed to play the Open. John Stashed
Speaker 4: wear Bloomberg.
Speaker 5: Sports Coast to Coast on Bloomberg Radio, nationwide on SEREA XM,
Speaker 5: and around the world on Bloomberg dot Com and the
Speaker 5: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 5: Nathan Hager.
Speaker 2: Night two of the Democratic National Convention saw Barack and
Speaker 2: Michelle Obama energize the crown in Chicago with a rousing
Speaker 2: endorsement of Kamala Harris and a warning about Donald Trump.
Speaker 3: We do not need four more years a bluster and
Speaker 3: bumbling and chaos. We have seen that movie before, and
Speaker 3: we all know that the sequel is usually worse.
Speaker 9: For more.
Speaker 2: This morning, we were joined by Lindsay Newman, geopolitical risk
Speaker 2: expert and calumnist for G zero Media. Lindsey, good morning.
Speaker 2: We heard the Obamas sort of try to recapture that
Speaker 2: energy from two thousand and eight. Can Kamala Harris carry
Speaker 2: that forward?
Speaker 13: Good morning morning, Nathan, Thanks for having me on you.
Speaker 13: This week's Democratic National Convention, as you say, represents a
Speaker 13: big test, and it's fair to say that Democrats have'sen
Speaker 13: a massive reversal and fortune over the last month. By
Speaker 13: most accounts, just about a month ago, six weeks ago,
Speaker 13: Donald Trump was slow walking to that sequel in November
Speaker 13: that we heard at the start here, and now the
Speaker 13: storyline has totally changed. I've heard people reflect on what's
Speaker 13: going on on the ground and the DNC as Democrats
Speaker 13: having faced a near death experience, Harris now head to
Speaker 13: head with Donald Trump. And of course, last night's theme
Speaker 13: around a bold vision for America, as you say, was
Speaker 13: headlined by the Obamas, who really wrapped Harris in this
Speaker 13: brand of hope that was so powerful when Obama ran
Speaker 13: for president in two thousand and eight the first time.
Speaker 13: And Harris's campaign has to be thrilled with how well
Speaker 13: the Obamas told it last night. You know, they contextualized
Speaker 13: her this moment. They embraced Harris's candidacy, saying that Harris
Speaker 13: is here for you. Michelle Obama said, the narrative is
Speaker 13: about her story is your story, and so that was
Speaker 13: a you know, this is a big moment for the
Speaker 13: campaign last night.
Speaker 2: I want to bring in a little bit more of
Speaker 2: what the former First Lady had to say as well,
Speaker 2: her warnings about the potential impact of former President Trump
Speaker 2: on this race. Let's listen to that.
Speaker 6: If they lie about her, and they will, we've got
Speaker 6: to do something. If we see a bad poll, and
Speaker 6: we will, we got to put down that phone and
Speaker 6: do something.
Speaker 2: Till now, there's been some downplaying of the idea of
Speaker 2: a threat to democracy that former President Trump poses, at
Speaker 2: least as the Democrats see it. What did you make
Speaker 2: of the message from Kamala Harris last or I'm sorry
Speaker 2: for Michelle Obama last night.
Speaker 13: Well, one of the big storylines that Michelle Obama clearly
Speaker 13: transmitted was that time is short. Barack Obama said, the
Speaker 13: job is, there's a job to do. It's only eleven weeks.
Speaker 13: Michelle said, you know, don't mind the foolishness if somebody
Speaker 13: hasn't called you up and said register to vote and
Speaker 13: get out to vote. It's time to do the work,
Speaker 13: you know, to do something and can I just are
Speaker 13: typically the sort of electrifying, unifying moments, but how well
Speaker 13: Harris holds together this party, including around fault line issues
Speaker 13: that are we're seeing along the sidelines Israel, Gaza, but
Speaker 13: also really begins this final campaign push, you know, after
Speaker 13: Labor Day, more eyes will be tuned in. Harris's fairy
Speaker 13: tale summer may come to an end. Whether it's a
Speaker 13: fairytale fall, we'll find out. But she's going to quickly
Speaker 13: be taking that debate stage against Donald Trump. Voters are
Speaker 13: going to be seeing her side to side, it's going
Speaker 13: to become much more focused in on policy and nuts
Speaker 13: and bolts. Barack Obama tried to sort of head this
Speaker 13: off by saying in his speech, you know, it's not
Speaker 13: really about policy or program, It's really more about what
Speaker 13: we all yearn for this America that is returning to
Speaker 13: America that.
Speaker 2: They knew before.
Speaker 13: But this is the reality of what lies ahead over
Speaker 13: these next eleven weeks.
Speaker 2: About thirty seconds left. What do you expect to hear
Speaker 2: from Tim Waltz as he introduces himself to a national
Speaker 2: audience tonight.
Speaker 13: Yeah, as you say, tonight is about the fight for
Speaker 13: our freedoms as the theme we have Waltz and Bill Clinton,
Speaker 13: we expect to see more of what we've seen from him,
Speaker 13: this sort of coach campaigner, a man, you know, the
Speaker 13: guy next door that everybody's sort of excited about in
Speaker 13: embracing and that comfort zone. And he's going to be
Speaker 13: a key surrogate for Harris.
Speaker 2: This is Bloomberg Daybreak Today, your morning brief on the
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