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Speaker 1: This is a Bloomberg Business flag from Bloomberg World Handquarters.
Speaker 1: I'm Charlie Pela. Mixed picture for US equities. The SMP
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Speaker 1: to the first word breaking news desk for today's afternoon call,
Speaker 1: and there he is, said Lalan, Good afternoon, Charlie. MENUS
Speaker 1: averages are mixed today, with the Dow down thirty points,
Speaker 1: SMP falls six and NASDAC little changed as small cap
Speaker 1: six hundred falls three, and the US tenure yelled is
Speaker 1: at one point five seven percent. Six of ten SMP
Speaker 1: sectors are lower, led by losses in energy and financials.
Speaker 1: Telecom and tech lead to the upside doubt, Transports rise
Speaker 1: to NASDAC, biotechs decline eleven, utilities lose to and the
Speaker 1: VIX gains four. Leaders to the upside in the DOO
Speaker 1: include Walmart and Nike, while down leaders to the downside
Speaker 1: include American Express and Chevron. Automakers report u S August
Speaker 1: sales fall short of expectations, Diamond Offshore falls ten percent
Speaker 1: after receiving a termination notice from Petrobra, Campbell's Soup declines
Speaker 1: six percent after missing EPs estimates and guiding below consensus,
Speaker 1: and Sienna gains seven percent after beating fourth quarter estimates
Speaker 1: after the Bell Tonight, watch for earnings from Lululemon, Broadcom,
Speaker 1: and Cooper Companies, and watch for the Gap to report
Speaker 1: August COPS sales. Live from the First Word Breaking news
Speaker 1: desk lan Charlie, all right, thank you very much, Adam
Speaker 1: to hear live breaking news over your Bloomberg tipe squaw
Speaker 1: caask you a w K on your terminal. I'm Charlie Pellett.
Speaker 1: That's a Bloomberg business flash. You're listening to taking stock
Speaker 1: with Pim Box and Kathleen Hayes on Bloomberg Radio. I'm
Speaker 1: Kathleen Hayes. Live at the U s T A Billy
Speaker 1: Jean King National Tennis Center. It is the US Open.
Speaker 1: It's an annual journey for taking stock on Bloomberg Rader
Speaker 1: to come out and look at tennis, the business of tennis,
Speaker 1: the money behind tennis, and to talk to so many
Speaker 1: of the interesting people to who attend. Now a very
Speaker 1: interesting person who is not attending that I know of, Well,
Speaker 1: there's two of them. Number one is Donald Trump. Of course,
Speaker 1: he's been very busy out west giving immigration speeches, traveling
Speaker 1: to Mexico yesterday. I talked to the President of Mexico.
Speaker 1: I'm really referring though, to Mike Meets, executive editor for
Speaker 1: Bloomberg Politics. Is Mike, I really want to hear what
Speaker 1: you have to say about the reaction to the follow
Speaker 1: up on moll on two things, Donald Trump's trip to
Speaker 1: Mexico also his immigration speech. So let's start with let's
Speaker 1: start with a trip. Sure, So we uh, we have
Speaker 1: really been still trying to compute everything that went on yesterday.
Speaker 1: It as as you recall, it started the night before
Speaker 1: um where news broke that this trip to Mexico was
Speaker 1: on and that Trump would be meeting with the President
Speaker 1: of Mexico on a number of issues. And then it
Speaker 1: actually happened hours later, uh, the next afternoon, and the
Speaker 1: event that followed kind of a joint joint they both
Speaker 1: issue joint statements before the press, and then Trump took questions,
Speaker 1: and it seemed like a very state affair. Uh. There
Speaker 1: weren't any arguments, There weren't any real disputes. It was
Speaker 1: it was all quite diplomatic. UM. And just as we
Speaker 1: thought that this might be a new kind of moderate
Speaker 1: leaf that Donald Trump was turning over, it was. Uh.
Speaker 1: He headed to Phoenix and delivered probably his fiercest anti
Speaker 1: immigrant speech yet fiercest. Yeah, that's pretty fierce. Give us
Speaker 1: some of the highlights that I'm looking at. One of
Speaker 1: the stories robber politics team Uh No amnesty, amnesty. Um.
Speaker 1: He also talked about ideological certification to ensure those admitting
Speaker 1: UH into our country shore our values. I love our people,
Speaker 1: m so so. He him and his advisors spent the
Speaker 1: previous two weeks discussing a number of options for softening
Speaker 1: UH the immigration proposal that was that was announced a
Speaker 1: long time ago last year, and so one of the
Speaker 1: things that seemed to be being taken off the table
Speaker 1: ever so gently was the deportation of every single undocumented
Speaker 1: immigrant UH in the country, and that in that number
Speaker 1: is in the many millions. Probably love the million is
Speaker 1: one popular accounting and uh. And after two weeks of
Speaker 1: seeming to take that off the table, he slapped it
Speaker 1: back on with with Augusto and and started with saying
Speaker 1: that he would ship back anyone that has a criminal record,
Speaker 1: and then he moved on to pretty much every group.
Speaker 1: The Washington Post had one accounting saying that six million
Speaker 1: would be sent back according to the new policies that
Speaker 1: he had enunciated. But really he left the door opened
Speaker 1: four shipping back every single one of them. And that
Speaker 1: was a shock to a lot of people who have
Speaker 1: been watching him very closely, and even to his his
Speaker 1: Hispanic Council. It's a group of Hispanic leaders who uh,
Speaker 1: who have been advising Trump on these issues and uh,
Speaker 1: and we've been seeing some warning signs from them that
Speaker 1: that there could be resignations coming. Okay, so first of all,
Speaker 1: who are some of these people? We are the warning
Speaker 1: signs you're seeing that they may be resigning. So so, yeah,
Speaker 1: none of them are national figures, but they are that
Speaker 1: they're definitely big in their in their community. To the
Speaker 1: extent that the the Republican Hispanic community um is big,
Speaker 1: it's obviously much smaller than the than the liberal Democratic side.
Speaker 1: But they they they've been talking to him for a
Speaker 1: few months now. They were named in a in a
Speaker 1: press release and that we're referred to them for a
Speaker 1: lot of context about where Trump's going with his immigration proposals.
Speaker 1: And one of them has has said that he's thinking
Speaker 1: of resigning, and others are saying it anonymously right now,
Speaker 1: and and uh, and it seems to be a warning
Speaker 1: shot to uh, to Trump that he should soften things
Speaker 1: quickly and if not, he could be publically embarrassed. So
Speaker 1: just give us some of the figures, some of the
Speaker 1: math mike even broadly on the percentage of the registered
Speaker 1: voters which Hispanic voters make up, and therefore the extent
Speaker 1: that the portion that Donald Trump is losing. So yeah,
Speaker 1: it's uh, it's definitely the crucial voting block. After the
Speaker 1: twelve election, which Romney lost, the Republican National Committee issued
Speaker 1: a kind of postmodern report saying that, uh, if we
Speaker 1: don't do better with this group, we're never gonna win
Speaker 1: another presidential election. And that's why you saw some rising
Speaker 1: stars in the Republican Party, uh be people who who
Speaker 1: were much friendlier and maybe spoke Spanish and we're from. UM,
Speaker 1: we're diverse parts of the country. Even someone like Jeff Bush,
Speaker 1: who obviously is from a famous political family, but also
Speaker 1: UH is married to a Hispanic American so um marcar
Speaker 1: Rubio is another one who who is Hispanic and from
Speaker 1: a state with a lot of Hispanics and of crucial
Speaker 1: state UH in a presidential election. But all of them
Speaker 1: were brushed aside for this anti immigrant man said thank
Speaker 1: you so very much for joining us. Executive editor for
Speaker 1: Bloomberg Politics. I'm Kathleen Hayes. We are broadcasting live today
Speaker 1: at the US Open and Fushing Meadow, Queens. This is Bloomberg.
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