1 00:00:03,160 --> 00:00:06,560 Speaker 1: Global business news twenty four hours a day. If Bloomberg 2 00:00:06,600 --> 00:00:09,680 Speaker 1: dot Com the radio plus mobile LAPP and on your radio. 3 00:00:09,960 --> 00:00:14,280 Speaker 1: This is a Bloomberg Business flag from Bloomberg World Handquarters. 4 00:00:14,320 --> 00:00:17,600 Speaker 1: I'm Charlie Pela. Mixed picture for US equities. The SMP 5 00:00:17,840 --> 00:00:21,040 Speaker 1: and the Dow are lower, NAZDAK is higher. This update 6 00:00:21,160 --> 00:00:24,360 Speaker 1: is brought to you by National Realty Managers of New 7 00:00:24,480 --> 00:00:28,720 Speaker 1: York City cash Flow real Estate, providing you twelve percent 8 00:00:28,800 --> 00:00:32,920 Speaker 1: annualized returns with immediate monthly distributions. See them at n 9 00:00:33,159 --> 00:00:36,040 Speaker 1: r I a hot net. Now let's head right over 10 00:00:36,040 --> 00:00:39,160 Speaker 1: to the first word breaking news desk for today's afternoon call, 11 00:00:39,479 --> 00:00:44,240 Speaker 1: and there he is, said Lalan, Good afternoon, Charlie. MENUS 12 00:00:44,280 --> 00:00:47,960 Speaker 1: averages are mixed today, with the Dow down thirty points, 13 00:00:48,080 --> 00:00:52,600 Speaker 1: SMP falls six and NASDAC little changed as small cap 14 00:00:52,640 --> 00:00:55,480 Speaker 1: six hundred falls three, and the US tenure yelled is 15 00:00:55,520 --> 00:00:58,640 Speaker 1: at one point five seven percent. Six of ten SMP 16 00:00:58,760 --> 00:01:02,360 Speaker 1: sectors are lower, led by losses in energy and financials. 17 00:01:02,880 --> 00:01:07,080 Speaker 1: Telecom and tech lead to the upside doubt, Transports rise 18 00:01:07,200 --> 00:01:12,240 Speaker 1: to NASDAC, biotechs decline eleven, utilities lose to and the 19 00:01:12,360 --> 00:01:16,520 Speaker 1: VIX gains four. Leaders to the upside in the DOO 20 00:01:16,600 --> 00:01:20,880 Speaker 1: include Walmart and Nike, while down leaders to the downside 21 00:01:20,880 --> 00:01:25,760 Speaker 1: include American Express and Chevron. Automakers report u S August 22 00:01:25,800 --> 00:01:31,200 Speaker 1: sales fall short of expectations, Diamond Offshore falls ten percent 23 00:01:31,319 --> 00:01:35,679 Speaker 1: after receiving a termination notice from Petrobra, Campbell's Soup declines 24 00:01:35,840 --> 00:01:39,400 Speaker 1: six percent after missing EPs estimates and guiding below consensus, 25 00:01:39,440 --> 00:01:43,160 Speaker 1: and Sienna gains seven percent after beating fourth quarter estimates 26 00:01:43,480 --> 00:01:47,120 Speaker 1: after the Bell Tonight, watch for earnings from Lululemon, Broadcom, 27 00:01:47,160 --> 00:01:50,919 Speaker 1: and Cooper Companies, and watch for the Gap to report 28 00:01:50,960 --> 00:01:53,760 Speaker 1: August COPS sales. Live from the First Word Breaking news 29 00:01:53,760 --> 00:01:56,560 Speaker 1: desk lan Charlie, all right, thank you very much, Adam 30 00:01:56,600 --> 00:01:59,320 Speaker 1: to hear live breaking news over your Bloomberg tipe squaw 31 00:01:59,440 --> 00:02:03,840 Speaker 1: caask you a w K on your terminal. I'm Charlie Pellett. 32 00:02:03,880 --> 00:02:09,120 Speaker 1: That's a Bloomberg business flash. You're listening to taking stock 33 00:02:09,320 --> 00:02:14,000 Speaker 1: with Pim Box and Kathleen Hayes on Bloomberg Radio. I'm 34 00:02:14,080 --> 00:02:17,160 Speaker 1: Kathleen Hayes. Live at the U s T A Billy 35 00:02:17,280 --> 00:02:20,800 Speaker 1: Jean King National Tennis Center. It is the US Open. 36 00:02:20,880 --> 00:02:24,600 Speaker 1: It's an annual journey for taking stock on Bloomberg Rader 37 00:02:24,600 --> 00:02:28,120 Speaker 1: to come out and look at tennis, the business of tennis, 38 00:02:28,120 --> 00:02:31,240 Speaker 1: the money behind tennis, and to talk to so many 39 00:02:31,280 --> 00:02:34,200 Speaker 1: of the interesting people to who attend. Now a very 40 00:02:34,240 --> 00:02:37,280 Speaker 1: interesting person who is not attending that I know of, Well, 41 00:02:37,280 --> 00:02:39,760 Speaker 1: there's two of them. Number one is Donald Trump. Of course, 42 00:02:39,800 --> 00:02:43,160 Speaker 1: he's been very busy out west giving immigration speeches, traveling 43 00:02:43,160 --> 00:02:45,639 Speaker 1: to Mexico yesterday. I talked to the President of Mexico. 44 00:02:46,000 --> 00:02:49,160 Speaker 1: I'm really referring though, to Mike Meets, executive editor for 45 00:02:49,240 --> 00:02:52,480 Speaker 1: Bloomberg Politics. Is Mike, I really want to hear what 46 00:02:52,560 --> 00:02:55,640 Speaker 1: you have to say about the reaction to the follow 47 00:02:55,720 --> 00:02:58,040 Speaker 1: up on moll on two things, Donald Trump's trip to 48 00:02:58,080 --> 00:03:01,040 Speaker 1: Mexico also his immigration speech. So let's start with let's 49 00:03:01,040 --> 00:03:04,320 Speaker 1: start with a trip. Sure, So we uh, we have 50 00:03:04,480 --> 00:03:08,320 Speaker 1: really been still trying to compute everything that went on yesterday. 51 00:03:08,480 --> 00:03:11,920 Speaker 1: It as as you recall, it started the night before 52 00:03:12,560 --> 00:03:15,600 Speaker 1: um where news broke that this trip to Mexico was 53 00:03:15,680 --> 00:03:17,800 Speaker 1: on and that Trump would be meeting with the President 54 00:03:18,600 --> 00:03:22,120 Speaker 1: of Mexico on a number of issues. And then it 55 00:03:22,240 --> 00:03:26,760 Speaker 1: actually happened hours later, uh, the next afternoon, and the 56 00:03:26,840 --> 00:03:29,440 Speaker 1: event that followed kind of a joint joint they both 57 00:03:29,480 --> 00:03:33,519 Speaker 1: issue joint statements before the press, and then Trump took questions, 58 00:03:33,520 --> 00:03:36,480 Speaker 1: and it seemed like a very state affair. Uh. There 59 00:03:36,520 --> 00:03:39,280 Speaker 1: weren't any arguments, There weren't any real disputes. It was 60 00:03:39,800 --> 00:03:42,800 Speaker 1: it was all quite diplomatic. UM. And just as we 61 00:03:42,920 --> 00:03:45,720 Speaker 1: thought that this might be a new kind of moderate 62 00:03:46,040 --> 00:03:49,920 Speaker 1: leaf that Donald Trump was turning over, it was. Uh. 63 00:03:49,960 --> 00:03:54,080 Speaker 1: He headed to Phoenix and delivered probably his fiercest anti 64 00:03:54,120 --> 00:03:59,400 Speaker 1: immigrant speech yet fiercest. Yeah, that's pretty fierce. Give us 65 00:03:59,440 --> 00:04:02,680 Speaker 1: some of the highlights that I'm looking at. One of 66 00:04:02,720 --> 00:04:09,520 Speaker 1: the stories robber politics team Uh No amnesty, amnesty. Um. 67 00:04:09,560 --> 00:04:14,880 Speaker 1: He also talked about ideological certification to ensure those admitting 68 00:04:15,160 --> 00:04:18,000 Speaker 1: UH into our country shore our values. I love our people, 69 00:04:18,600 --> 00:04:22,560 Speaker 1: m so so. He him and his advisors spent the 70 00:04:22,600 --> 00:04:26,159 Speaker 1: previous two weeks discussing a number of options for softening 71 00:04:26,760 --> 00:04:30,240 Speaker 1: UH the immigration proposal that was that was announced a 72 00:04:30,279 --> 00:04:32,919 Speaker 1: long time ago last year, and so one of the 73 00:04:32,960 --> 00:04:35,960 Speaker 1: things that seemed to be being taken off the table 74 00:04:36,040 --> 00:04:40,080 Speaker 1: ever so gently was the deportation of every single undocumented 75 00:04:40,120 --> 00:04:43,360 Speaker 1: immigrant UH in the country, and that in that number 76 00:04:43,400 --> 00:04:45,760 Speaker 1: is in the many millions. Probably love the million is 77 00:04:45,760 --> 00:04:50,479 Speaker 1: one popular accounting and uh. And after two weeks of 78 00:04:51,040 --> 00:04:53,200 Speaker 1: seeming to take that off the table, he slapped it 79 00:04:53,240 --> 00:04:57,280 Speaker 1: back on with with Augusto and and started with saying 80 00:04:57,279 --> 00:04:59,960 Speaker 1: that he would ship back anyone that has a criminal record, 81 00:05:00,320 --> 00:05:04,279 Speaker 1: and then he moved on to pretty much every group. 82 00:05:04,320 --> 00:05:08,040 Speaker 1: The Washington Post had one accounting saying that six million 83 00:05:08,080 --> 00:05:10,359 Speaker 1: would be sent back according to the new policies that 84 00:05:10,440 --> 00:05:13,520 Speaker 1: he had enunciated. But really he left the door opened 85 00:05:13,560 --> 00:05:16,000 Speaker 1: four shipping back every single one of them. And that 86 00:05:16,120 --> 00:05:18,120 Speaker 1: was a shock to a lot of people who have 87 00:05:18,120 --> 00:05:20,880 Speaker 1: been watching him very closely, and even to his his 88 00:05:20,880 --> 00:05:24,400 Speaker 1: Hispanic Council. It's a group of Hispanic leaders who uh, 89 00:05:24,720 --> 00:05:27,400 Speaker 1: who have been advising Trump on these issues and uh, 90 00:05:27,680 --> 00:05:30,600 Speaker 1: and we've been seeing some warning signs from them that 91 00:05:30,600 --> 00:05:33,680 Speaker 1: that there could be resignations coming. Okay, so first of all, 92 00:05:33,720 --> 00:05:35,200 Speaker 1: who are some of these people? We are the warning 93 00:05:35,240 --> 00:05:37,760 Speaker 1: signs you're seeing that they may be resigning. So so, yeah, 94 00:05:38,000 --> 00:05:40,200 Speaker 1: none of them are national figures, but they are that 95 00:05:40,320 --> 00:05:42,839 Speaker 1: they're definitely big in their in their community. To the 96 00:05:42,839 --> 00:05:47,919 Speaker 1: extent that the the Republican Hispanic community um is big, 97 00:05:47,960 --> 00:05:51,719 Speaker 1: it's obviously much smaller than the than the liberal Democratic side. 98 00:05:52,200 --> 00:05:55,159 Speaker 1: But they they they've been talking to him for a 99 00:05:55,200 --> 00:05:56,919 Speaker 1: few months now. They were named in a in a 100 00:05:56,960 --> 00:06:01,160 Speaker 1: press release and that we're referred to them for a 101 00:06:01,160 --> 00:06:06,120 Speaker 1: lot of context about where Trump's going with his immigration proposals. 102 00:06:06,160 --> 00:06:10,280 Speaker 1: And one of them has has said that he's thinking 103 00:06:10,560 --> 00:06:13,360 Speaker 1: of resigning, and others are saying it anonymously right now, 104 00:06:13,560 --> 00:06:15,880 Speaker 1: and and uh, and it seems to be a warning 105 00:06:15,880 --> 00:06:18,880 Speaker 1: shot to uh, to Trump that he should soften things 106 00:06:19,640 --> 00:06:22,760 Speaker 1: quickly and if not, he could be publically embarrassed. So 107 00:06:22,920 --> 00:06:24,719 Speaker 1: just give us some of the figures, some of the 108 00:06:24,800 --> 00:06:30,880 Speaker 1: math mike even broadly on the percentage of the registered 109 00:06:31,000 --> 00:06:34,840 Speaker 1: voters which Hispanic voters make up, and therefore the extent 110 00:06:35,160 --> 00:06:38,800 Speaker 1: that the portion that Donald Trump is losing. So yeah, 111 00:06:38,800 --> 00:06:43,200 Speaker 1: it's uh, it's definitely the crucial voting block. After the 112 00:06:43,240 --> 00:06:47,760 Speaker 1: twelve election, which Romney lost, the Republican National Committee issued 113 00:06:48,240 --> 00:06:51,680 Speaker 1: a kind of postmodern report saying that, uh, if we 114 00:06:51,680 --> 00:06:53,480 Speaker 1: don't do better with this group, we're never gonna win 115 00:06:53,560 --> 00:06:57,040 Speaker 1: another presidential election. And that's why you saw some rising 116 00:06:57,040 --> 00:07:01,560 Speaker 1: stars in the Republican Party, uh be people who who 117 00:07:01,680 --> 00:07:05,680 Speaker 1: were much friendlier and maybe spoke Spanish and we're from. UM, 118 00:07:05,680 --> 00:07:08,080 Speaker 1: we're diverse parts of the country. Even someone like Jeff Bush, 119 00:07:08,120 --> 00:07:10,920 Speaker 1: who obviously is from a famous political family, but also 120 00:07:11,560 --> 00:07:16,080 Speaker 1: UH is married to a Hispanic American so um marcar 121 00:07:16,160 --> 00:07:20,240 Speaker 1: Rubio is another one who who is Hispanic and from 122 00:07:20,440 --> 00:07:22,960 Speaker 1: a state with a lot of Hispanics and of crucial 123 00:07:23,000 --> 00:07:25,920 Speaker 1: state UH in a presidential election. But all of them 124 00:07:26,440 --> 00:07:30,280 Speaker 1: were brushed aside for this anti immigrant man said thank 125 00:07:30,320 --> 00:07:32,520 Speaker 1: you so very much for joining us. Executive editor for 126 00:07:32,520 --> 00:07:36,960 Speaker 1: Bloomberg Politics. I'm Kathleen Hayes. We are broadcasting live today 127 00:07:37,000 --> 00:07:41,560 Speaker 1: at the US Open and Fushing Meadow, Queens. This is Bloomberg. 128 00:07:45,600 --> 00:07:48,120 Speaker 1: Bloomberg taking Stock is brought to you by m Y 129 00:07:48,240 --> 00:07:51,240 Speaker 1: Safra Bank, a leading name in banking with one hundred 130 00:07:51,240 --> 00:07:54,440 Speaker 1: fifty years of family knowledge and exclusive banking services. Stop 131 00:07:54,480 --> 00:07:56,720 Speaker 1: in at Fordning nine Park Avenue or was it m 132 00:07:56,840 --> 00:07:58,640 Speaker 1: y Saffra dot com member fd I C