WEBVTT - Harris Has Enough Delegates to Clinch Nomination; Tesla and Alphabet Earnings

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news. Good morning, I'm Nathan

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<v Speaker 1>Hager and I'm Karen Moscow. Here are the stories we're

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<v Speaker 1>following today.

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<v Speaker 2>Karen, let's begin with the presidential race and a fast

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<v Speaker 2>moving campaign for Vice President Kamala Harris. Less than two

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<v Speaker 2>days after President Biden withdrew from the campaign, the vice

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<v Speaker 2>president has crossed the magic number of nineteen hundred and

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<v Speaker 2>seventy six pledge delegates to clinch the Democratic nomination. That's

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<v Speaker 2>according to an unofficial tallly from the Associated Press. Harris

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<v Speaker 2>told staffers at her new campaign headquarters in Wilmington, Delaware,

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<v Speaker 2>that she intends to earn and win the nomination.

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<v Speaker 3>Over the next one hundred and six days. We are

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<v Speaker 3>going to take our case to the American people, and

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<v Speaker 3>we are going to win.

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<v Speaker 2>Vice President Harris Scott President Biden's backing in a call

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<v Speaker 2>to the HQ.

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<v Speaker 4>The name has changed the top of the ticket, but

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<v Speaker 4>the mission hasn't changed at all. And by the way,

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<v Speaker 4>I'm not going where I'm going to be out there

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<v Speaker 4>in the campaign with her. With Kama I'm going to

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<v Speaker 4>be working like cal both as a sitting president, getting

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<v Speaker 4>legislation passed as well as in campaigning.

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<v Speaker 2>And this morning, the Harris campaign has announced it raised

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<v Speaker 2>more than one hundred million dollars between Sunday afternoon and

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<v Speaker 2>last night from more than one point one million donors,

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<v Speaker 2>sixty two percent of whom were first timers. Vice President

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<v Speaker 2>Harris has her first full fledged rally as a presidential

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<v Speaker 2>candidate later today in Milwaukee, where Republicans just held their

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<v Speaker 2>convention last week.

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<v Speaker 1>And soon Nathan Harris will need to recommend a running

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<v Speaker 1>mate to delegates ahead of the Democratic National Convention in Chicago,

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<v Speaker 1>and Larry Sabado, director of the University of Virginia Center

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<v Speaker 1>for Politics, lay's out our options.

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<v Speaker 5>I'm old fashioned. I think that you want to have

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<v Speaker 5>a balanced ticket. So you picked somebody who's not like

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<v Speaker 5>you but can appeal to other segments of the party

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<v Speaker 5>and the population. And this is all about electoral votes.

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<v Speaker 5>You know, you can talk about anything you want to,

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<v Speaker 5>but you win when you get two hundred and seventy

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<v Speaker 5>electoral votes. So you pick somebody who can win electoral votes.

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<v Speaker 5>To me, that means Governor Shapiro Pennsylvania that's nineteen electoral votes,

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<v Speaker 5>or Governor Cooper of North Carolina that's sixteen electoral votes.

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<v Speaker 5>Or Senator Mark Kelly from Arizona. That's eleven electoral votes,

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<v Speaker 5>plus he's already known because of his astronaut career.

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<v Speaker 1>Larry Sabadomi the comments on Bloombergy's balance of Power. Catch

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<v Speaker 1>the program weekdays from noon to two and again at

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<v Speaker 1>five pm on Bloomberg Radio and Television.

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<v Speaker 2>Well, meanwhile, Karenburry publican vice presidential nominee jd Vance use

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<v Speaker 2>his first solo campaign rally to slam both Kamala Harris

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<v Speaker 2>and Joe Biden.

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<v Speaker 6>Now, history will remember Joe Biden as not.

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<v Speaker 7>Just a quitter, which he is, but one of the.

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<v Speaker 8>Worst presidents in the United States of America. But my friends,

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<v Speaker 8>Kamala Harris is a million times worse and everybody knows it.

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<v Speaker 2>Speaking his hometown of Middletown, Ohio, jd Vance also said

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<v Speaker 2>the border crisis is a Kamala Harris crisis.

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<v Speaker 1>Well, turning to the markets, now, Nathan futures are lower

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<v Speaker 1>a day after all three major indexes started the week

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<v Speaker 1>with gains that end of the day above forty four

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<v Speaker 1>hundred and ed Yard Denny, President at Your Denny Research,

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<v Speaker 1>she's the blue chip index going much higher by the

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<v Speaker 1>end of the decade.

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<v Speaker 9>It's not a stretch to believe that over the remaining

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<v Speaker 9>decade we can get to sixty thousand. And I've got

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<v Speaker 9>the S and P five hundred going to eight thousand,

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<v Speaker 9>so it's a bull market. Just take a look at

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<v Speaker 9>a long term chart of the S and P five hundred,

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<v Speaker 9>and what you see is that bear markets occur every

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<v Speaker 9>now and then, but they don't last very long, and

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<v Speaker 9>that the fundamental trend of the market is upwards along

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<v Speaker 9>with the economy.

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<v Speaker 1>Ed Your Denny of Your Denny Research says earnings, not politics,

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<v Speaker 1>will drive the markets going forward.

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<v Speaker 2>And speaking of earnings, Karen, we get results from two

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<v Speaker 2>of the so called Magnificent Seven today, one of which

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<v Speaker 2>is Tesla. We get a preview from Bloomberg's Tom Busby.

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<v Speaker 10>Despite some massive staff reductions and a better than forecast

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<v Speaker 10>number of deliveries in the second quarter, operating margins at Tesla,

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<v Speaker 10>which could shrink for a sixth quarter in a row,

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<v Speaker 10>will be a major focus for investors. Also signs of

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<v Speaker 10>a rebound in China, which may point to a better

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<v Speaker 10>second half of the year. The real drama will come

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<v Speaker 10>on the earnings call, where Tesla is expected to give

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<v Speaker 10>an update on the progress of its long delayed Robotaxi

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<v Speaker 10>and any plans for a more affordable next generation vehicle.

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<v Speaker 10>For Q two, consensus calls for adjusted earnings per share

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<v Speaker 10>of sixty cents revenues of twenty four point sixty three billion.

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<v Speaker 10>Tom busby Bloomberg Radio.

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<v Speaker 1>All right, Tom, thanks. So we'll also hear from Google

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<v Speaker 1>parent Alphabet after the closing bill, and that company is

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<v Speaker 1>making news on another front. Alphabet's twenty three billion dollar

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<v Speaker 1>offer for cybersecurity startup Whiz has been rejected. Instead, Whiz

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<v Speaker 1>is sticking with a plan for an initial public offering.

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<v Speaker 1>The rejection is a blow to Alphabet. It's trying to

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<v Speaker 1>catch up with Microsoft and Amazon the competitive cloud services market.

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<v Speaker 2>Man Caren, we continue to watch the fallout from last

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<v Speaker 2>week's global it meltdown. Now the CEO of CrowdStrike is

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<v Speaker 2>being called to testify before a House committee. Let's get

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<v Speaker 2>the latest from Bloomberg's John Tucker, John.

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<v Speaker 11>Niate, Congress swans answers, and things could get heated for

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<v Speaker 11>CrowdStrike CEO George Kurtz. In a letter to Kurtz, the

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<v Speaker 11>leaders of the House Committee on Homeland Security say less

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<v Speaker 11>than one day we've seen major impacts to key functions

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<v Speaker 11>of the global economy, and Americans deserve to know and

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<v Speaker 11>detail how this incident happened. In the mitigation steps CrowdStrike

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<v Speaker 11>is taking well, it doesn't stop. There other Congressional committees

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<v Speaker 11>of as company officials for briefings. Last week's outage was

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<v Speaker 11>blamed on a defect and a software update and impacted

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<v Speaker 11>CrowdStrike customers using Microsoft Windows. Congress does have the power

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<v Speaker 11>to compel testimony by issuing subpoenas, but usually first assd

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<v Speaker 11>potential witnesses to appear voluntarily. CrowdStrike shares fell over thirteen

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<v Speaker 11>percent yesterday after eleven percent trot John Tucker Bloomberg Radio, All.

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<v Speaker 1>Right, John, thanks and that technology outage still having a

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<v Speaker 1>major impact on Delta. The airline says it expects to

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<v Speaker 1>cancel more flights this week. Delta has already grounded almost

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<v Speaker 1>forty seven hundred flights since Friday's meltdown, more than half

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<v Speaker 1>of Delta's worldwide. It relies on Microsoft Windows operating system,

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<v Speaker 1>which was affected by the Crown to Strike software error.

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<v Speaker 1>But it's time now for a look at some of

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<v Speaker 1>the other stories making news in New York and around

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<v Speaker 1>the world, and for that We're joined by Bloomberg's Michael Barr.

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<v Speaker 7>Michael, good morning, Good morning, Karen. The Secret Services director

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<v Speaker 7>says the roof where a shooter opened fire at Donald

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<v Speaker 7>Trump's Pennsylvania Rowley was identified as a potential vulnerability days

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<v Speaker 7>before the event. Director Kimberly Chetle made the comments as

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<v Speaker 7>she was grilled by lawmakers over the July thirteenth assassination

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<v Speaker 7>attempt against Trump. Cheedle told lawmakers during a congressional hearing.

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<v Speaker 7>We failed.

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<v Speaker 9>We must learn what happened.

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<v Speaker 1>I will move heaven and earth to ensure that an

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<v Speaker 1>incident like July thirteenth does not happen again.

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<v Speaker 7>Cheadle was slammed by both sides of the aisle, Democratic

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<v Speaker 7>Congressman Jamie Raskin and Maryland.

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<v Speaker 12>The Director has lost the confidence of Congress at a

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<v Speaker 12>very urgent and tender moment in the history of the country,

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<v Speaker 12>and we need to very quickly move beyond this.

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<v Speaker 7>Yesterday, Republican lawmakers visited the site in Butler, Pennsylvania, where

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<v Speaker 7>the gunmen tried to assassinate the former president. House Homeland

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<v Speaker 7>Security Vice Chair Michael guest I.

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<v Speaker 6>Joined many other members of Congress and calling forward the

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<v Speaker 6>resignation of Director Cheaterle. She must resign immediately for the

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<v Speaker 6>good country and for the good of the department that

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<v Speaker 6>she serves as secret Service.

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<v Speaker 7>Me while some members of Congress are filing impeachment charges

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<v Speaker 7>against Cheatle, an FAA investigation is ongoing after a small

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<v Speaker 7>plane crashed in Long Island MacArthur Airport, killing two men,

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<v Speaker 7>a pilot and passenger. The single engine be each craft

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<v Speaker 7>crashed near the end of the runway at the airport

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<v Speaker 7>last evening in Iceland. Suffolk County Police say, according to

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<v Speaker 7>a witness, the plane took off and then for some

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<v Speaker 7>unknown reason, attempted to return to the airport when it crashed.

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<v Speaker 7>The families of American hostages held by Hamas met with

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<v Speaker 7>National Security Adviser Jake Sullivan at the White House ahead

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<v Speaker 7>of Israeli Prime Minister Benjamin Netanyaho's addressed Congress tomorrow. The

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<v Speaker 7>Israeli leader is in Washington. The families demanded that net

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<v Speaker 7>Yahoo accept the peace deal to free the hostages. Rachel

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<v Speaker 7>Goldberg Poland is the mother of American ostriche Hirsch Goldberg.

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<v Speaker 3>Poland, announcing that he is ready to be doing this

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<v Speaker 3>deal that has taken many many, many months, many hours,

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<v Speaker 3>too much pain.

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<v Speaker 7>Meanwhile, net Yahoo would meet with President Biden later this week.

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<v Speaker 7>Global news twenty four hours a day and whenever you

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<v Speaker 7>want it with the Bloomberg News. Now, Michael mar this

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<v Speaker 7>is Oberg Carrott.

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<v Speaker 1>Sorry, Michael Barr, thank you time now for the Bloomberg

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

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<v Speaker 13>John, good morning, Good morning, Karen. Mets and Yankees played

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<v Speaker 13>a two game Subway series a month ago at Cityfield.

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<v Speaker 13>That's one of both, nine to seven, twelve to two.

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<v Speaker 13>Now it's two games in the Bronx tonight and tomorrow.

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<v Speaker 13>Yanks just got their sixtieth win. They hit five home runs,

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<v Speaker 13>none from Aaron Judge. DJ Lemayu batting just one eighty

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<v Speaker 13>one hit his first of the season, Anthony Volpi's first

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<v Speaker 13>homer since mid May. Austin Wells went yard early. One

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<v Speaker 13>Soto hit went out seventh, and in came up again

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<v Speaker 13>in the eighth.

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<v Speaker 8>Here Sono and he swings and drives it deep into

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<v Speaker 8>right field, and it is god. A hold run onto

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<v Speaker 8>the porch, a laser shot off the bat of one Sodo.

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<v Speaker 8>We continue to watch greatness from the sensational walk.

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<v Speaker 2>A three run Jackie.

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<v Speaker 8>To the porch, you'd right, and the Yankees are ahead.

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<v Speaker 13>Ninety one WCBS. That was the final over Tampa Bay.

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<v Speaker 13>Carlos were done, ending a personal five game losing streak.

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<v Speaker 13>When seven in is allowed, only two heads struck out ten.

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<v Speaker 13>David Peterson now five and oh for the Mets six

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<v Speaker 13>to four win at Miami. Jeff McNeil a two run

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<v Speaker 13>home for Francisco. Theendor homer twice, and the Mets and

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<v Speaker 13>the Yankees both come out of the All Star Break,

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<v Speaker 13>splitting the four game series. The Red Sox since the

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<v Speaker 13>break zero to four, lost a wild one at Colorado,

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<v Speaker 13>nine to eight in twelve innings. The day began for

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<v Speaker 13>Lebron James with news he will carry the flag at

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<v Speaker 13>Friday's Olympic opening ceremonies in Paris. Chosen in a vote

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<v Speaker 13>of the near six hundred US athletes. Lebron called it

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<v Speaker 13>an incredible honor. He then scored the last eleven US

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<v Speaker 13>points as they won their final tune up ninety two

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<v Speaker 13>to eighty eight over Germany. Their first Olympic game is

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<v Speaker 13>Sunday against Serbia. NFL training camps opening up in Green Bay.

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<v Speaker 13>It's without starting quarterback Jordan Loved to make ten and

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<v Speaker 13>a half million dollars this season. That's way below what

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<v Speaker 13>starting QB's Make Love is holding out until he gets

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<v Speaker 13>a new contract. Started the US Junior Amateur golf outside

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<v Speaker 13>of Detroit Tiger Woods. His fifteen year old son, Charlie

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<v Speaker 13>struggled with John Stash Edward Bloomberg Sports.

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<v Speaker 14>Karen Nathan.

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<v Speaker 15>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:11:09.800 --> 0:11:12.680
<v Speaker 15>and around the world on Bloomberg dot Com and the

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<v Speaker 15>Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

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<v Speaker 15>Nathan Hager.

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<v Speaker 2>Well, the pieces are quickly falling into place for Vice

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<v Speaker 2>President Kamala Harris and her sudden presidential campaign. Just a

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<v Speaker 2>day after President Biden ended his run. Harris has picked

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<v Speaker 2>up more than enough delegates to clinch the Democratic nomination,

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<v Speaker 2>and she is about to head out for her first

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<v Speaker 2>rally as the presumptive nominee. Joining us for more as

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<v Speaker 2>Bloomberg News Senior editor Bill ferries. Wow, Bill, politics can

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<v Speaker 2>really turn on a dime at least now, We've just

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<v Speaker 2>got word from the Harris campaign that it's raised more

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<v Speaker 2>than one hundred million dollars since Sunday afternoon. Can we

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<v Speaker 2>talk about momentum in this race.

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<v Speaker 16>Now, Yeah, Nathan, thanks for having me. I mean, it's clear,

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<v Speaker 16>if anything, there there was a lot of money sitting

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<v Speaker 16>on the sidelines in the past several weeks after Joe

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<v Speaker 16>Biden's disastrous debate performance and then even more recently the

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<v Speaker 16>assassination attempt on Donald Trump. Clearly there are a lot

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<v Speaker 16>of doubts on the Democratic side, and this shift to

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<v Speaker 16>Kamala Harris has really pumped up the enthusiasm and the

0:12:21.120 --> 0:12:25.080
<v Speaker 16>willingness of donors both small and large to open up

0:12:25.120 --> 0:12:29.040
<v Speaker 16>their pocketbooks. Here one hundred million dollars, I mean, it's

0:12:29.200 --> 0:12:33.120
<v Speaker 16>dwarfing what the Biden had camped, but Biden campaign had

0:12:33.200 --> 0:12:36.040
<v Speaker 16>raised in the last month that they had the report,

0:12:36.080 --> 0:12:39.280
<v Speaker 16>and we're just talking about basically forty eight hours here.

0:12:39.440 --> 0:12:43.080
<v Speaker 16>So she is definitely having kind of a best case

0:12:43.120 --> 0:12:45.960
<v Speaker 16>scenario when you look at the first two days. She's

0:12:45.960 --> 0:12:48.280
<v Speaker 16>going to try to keep building on that with you know,

0:12:48.360 --> 0:12:52.880
<v Speaker 16>her speech later today in Milwaukee and in the base,

0:12:52.960 --> 0:12:55.440
<v Speaker 16>you know, try to keep going in the one hundred

0:12:55.520 --> 0:12:58.319
<v Speaker 16>days or so we have before this election, it's really

0:12:58.679 --> 0:13:00.640
<v Speaker 16>going to be everything's going to seem like it's on

0:13:00.760 --> 0:13:01.839
<v Speaker 16>fast forward for us.

0:13:03.040 --> 0:13:03.280
<v Speaker 7>Does.

0:13:03.640 --> 0:13:07.800
<v Speaker 2>Harris still facedoubts though from some wings of her Democratic Party.

0:13:07.800 --> 0:13:10.920
<v Speaker 2>We did hear from Senator Manchin saying he'd still like

0:13:10.960 --> 0:13:13.760
<v Speaker 2>an open nominating process, he'd like to have the voices

0:13:13.800 --> 0:13:17.360
<v Speaker 2>of more centrist wing of the Democratic Party heard as well.

0:13:17.360 --> 0:13:20.439
<v Speaker 2>And we still haven't gotten a formal or formal endorsement

0:13:20.960 --> 0:13:23.160
<v Speaker 2>from former President Barack Obama, among others.

0:13:24.360 --> 0:13:27.000
<v Speaker 16>Yeah, you know, I think Joe Manchin, I think he's

0:13:27.040 --> 0:13:29.120
<v Speaker 16>switched to being an independent. I don't know if he's

0:13:29.160 --> 0:13:33.720
<v Speaker 16>re registered as a Democrat at this point. I think

0:13:34.760 --> 0:13:38.920
<v Speaker 16>there there probably are some pockets out there. The overwhelming

0:13:39.040 --> 0:13:42.440
<v Speaker 16>number of delegates or states that have been pulled so

0:13:42.559 --> 0:13:47.480
<v Speaker 16>far seem to be going into the Harris camp. I

0:13:47.520 --> 0:13:51.199
<v Speaker 16>suspect when you talk about, you know, support from different

0:13:51.240 --> 0:13:54.960
<v Speaker 16>wings of the party or the areas of the parts

0:13:55.000 --> 0:13:59.600
<v Speaker 16>that may have some reticence to this quick nomination, I

0:13:59.600 --> 0:14:01.560
<v Speaker 16>think you're going to see some of that play out,

0:14:01.640 --> 0:14:05.480
<v Speaker 16>perhaps in the vice presidential selection process. I think you'll

0:14:05.480 --> 0:14:08.560
<v Speaker 16>have the different sides of the Democratic Party weighing in

0:14:08.640 --> 0:14:11.480
<v Speaker 16>on who they think would be the best pick. But

0:14:12.440 --> 0:14:16.280
<v Speaker 16>you know, there's a pretty good bench there. I think

0:14:16.679 --> 0:14:20.080
<v Speaker 16>Harris has to choose from and she does have some

0:14:20.240 --> 0:14:22.600
<v Speaker 16>time to make that decision, so a lot of these

0:14:22.680 --> 0:14:25.040
<v Speaker 16>voices are going to be heard or at least get

0:14:25.040 --> 0:14:27.000
<v Speaker 16>a chance to make their case in the coming weeks.

0:14:27.320 --> 0:14:30.040
<v Speaker 2>That was interesting as well to hear from Vice President

0:14:30.040 --> 0:14:33.600
<v Speaker 2>Harris at her new campaign headquarters yesterday talking about how

0:14:33.640 --> 0:14:38.080
<v Speaker 2>she plans to prosecute the case against former President Trump

0:14:38.080 --> 0:14:39.920
<v Speaker 2>as she gets ready for a head to head matchup.

0:14:41.040 --> 0:14:43.880
<v Speaker 16>Yeah, she said, you know, she was attorney general in California.

0:14:44.280 --> 0:14:47.240
<v Speaker 16>She said that she took on perpetrators of all kinds

0:14:47.760 --> 0:14:50.160
<v Speaker 16>and then say, so hear me when I say I

0:14:50.240 --> 0:14:53.760
<v Speaker 16>know Donald Trump's type. You know, I think those of

0:14:53.840 --> 0:14:59.560
<v Speaker 16>us who helped cover the twenty twenty election remember her

0:14:59.600 --> 0:15:03.520
<v Speaker 16>having some strong, very strong moments in the debates. Her

0:15:03.960 --> 0:15:07.560
<v Speaker 16>Her campaign actually struggled, and I think she left before

0:15:07.600 --> 0:15:11.800
<v Speaker 16>the primaries, but she had a strong performance against Joe

0:15:11.840 --> 0:15:15.360
<v Speaker 16>Biden in fact, in one of those early debates. I

0:15:15.360 --> 0:15:17.920
<v Speaker 16>think there's a lot of interest in seeing how she

0:15:18.040 --> 0:15:21.640
<v Speaker 16>and Donald Trump would match up. They had originally they

0:15:21.640 --> 0:15:23.560
<v Speaker 16>were supposed to be a debate in the first half

0:15:23.600 --> 0:15:26.360
<v Speaker 16>of September. Will it remains to be seen whether that

0:15:26.600 --> 0:15:29.760
<v Speaker 16>is still on the schedule, But I think the Harris

0:15:29.760 --> 0:15:31.240
<v Speaker 16>Camp will be looking forward to that.

0:15:31.360 --> 0:15:33.760
<v Speaker 2>And in just thirty seconds Bill, we also heard from JD.

0:15:33.920 --> 0:15:36.640
<v Speaker 2>Vance saying Democrats are a threat to democracy now that

0:15:36.680 --> 0:15:40.400
<v Speaker 2>they've essentially pushed for President Biden out. How potent is

0:15:40.440 --> 0:15:41.040
<v Speaker 2>that argument?

0:15:41.640 --> 0:15:44.160
<v Speaker 16>Yeah, it's something. I think that we'll have some traction

0:15:44.360 --> 0:15:46.880
<v Speaker 16>on the Republican side, but I think it's going to

0:15:46.960 --> 0:15:50.360
<v Speaker 16>have traction with people who are probably already on the

0:15:50.400 --> 0:15:54.240
<v Speaker 16>Trump vance train. I don't know that you're gonna win

0:15:54.280 --> 0:15:56.360
<v Speaker 16>over a lot of voters with that. When you go

0:15:56.520 --> 0:15:59.680
<v Speaker 16>into the polling booth on primary day, you're actually voting

0:15:59.760 --> 0:16:04.480
<v Speaker 16>for are the delegates not the candidate? So I think

0:16:05.080 --> 0:16:08.200
<v Speaker 16>you know those delegates are the ones who will ultimately

0:16:08.200 --> 0:16:09.400
<v Speaker 16>make the choice at the convention.

0:16:09.600 --> 0:16:12.520
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