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Speaker 1: News when you want it. With Bloomberg News Now, I'm

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Speaker 1: Doug Prisner. The stage is set for at least one

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Speaker 1: vice presidential debate this fall. Bloomberg's Nathan Hager has more

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Speaker 1: from Washington.

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Speaker 2: Republican running mate JD. Vance says he has agreed to

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Speaker 2: debate Democrat Tim Waltz on CBS October first. In an

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Speaker 2: ex post, Vance also offered to take the stage even

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Speaker 2: earlier on CNN September eighteenth, saying the American people deserve

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Speaker 2: as many debates as possible. Any debate will be critical

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Speaker 2: for both running mates. Vance has been criticized for past

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Speaker 2: comments mocking women who don't have children, and while poll

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Speaker 2: show Waltz is mostly unknown, he did gain national attention

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Speaker 2: for mocking Vance and former President Trump as weird in Washington.

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Speaker 2: I'm Nathan Hager. Bloomberg Radio.

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Speaker 1: Ceasefire talks are underway and Cutter over the war in Gaza,

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Speaker 1: Israel will be meeting with mediators from the US. Egyptian

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Speaker 1: Cutter Hamas is not taking part, but it is waiting

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Speaker 1: to be briefed later. Rosalind Matheson is Bloomberg's news director

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Speaker 1: for the Midi East, Africa and Europe.

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Speaker 3: The's starting from a position of not much goodwill. You've

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Speaker 3: got the difficulty of how do you negotiate when you

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Speaker 3: can't sit in a room together and negotiate, So you've

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Speaker 3: got intermediaries negotiating four you passing messages back and forth.

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Speaker 3: That makes it very delicate and complex, and you have

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Speaker 3: fundamental disagreement about what is the endgame for a ceasefi.

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Speaker 3: Is the ceasefire a pathway to a permanent end to

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Speaker 3: the conflict, That's what Hamas wants. Is it just a

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Speaker 3: pause and then you have the right to resume fighting,

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Speaker 3: which is what Israel wants.

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Speaker 1: That is Bloomberg's ras matheson Now. We are also hearing

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Speaker 1: Palestinian President Mahmoudabas wants to visit the Gaza Strip and Jerusalem.

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Speaker 1: He announced that in a speech to the Turkish Parliament

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Speaker 1: on Thursday, although he did not provide a time frame.

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Speaker 1: The White House is walking back comments from President Biden

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Speaker 1: on the potential of a new election in Venezuela. We

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Speaker 1: have more from Bloomberg's Ed Baxter.

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Speaker 4: The President asked by reporters as he walked to board

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Speaker 4: his Marine one helicopter whether he supported new elections in Venezuela,

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Speaker 4: and he responded, I do well. There have been charges,

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Speaker 4: of course, that the Nicholas Madua election was rigged, but

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Speaker 4: now a spokesman for the National Security Council said Biden

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Speaker 4: intended to speak on the absurdity of Maduro failing to

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Speaker 4: come clean after claiming victory. Spokesman of Sean Sabbath saying

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Speaker 4: it is clear Maduro did not win. Maduro responded, the

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Speaker 4: US should not interfere that Venezuelans are in charge in

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Speaker 4: their homeland, ed Baxter Bloomberg Radio.

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Speaker 1: New economic data is defying the notion that American consumers

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Speaker 1: are exhausted. US retail sales rose one percent in July,

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Speaker 1: blowing past estimates, and at the same time, weekly jobless

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Speaker 1: claims were down for a second straight week to their

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Speaker 1: lowest level in nearly a month. We got reaction from

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Speaker 1: Tom Porcelli, chief US economist at Pigum Fixed Income. He says,

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Speaker 1: it looks as though the FED can begin cutting rates

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Speaker 1: without damaging the economy.

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Speaker 5: Classically, when the FED starts cutting, it's like, oh, you know,

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Speaker 5: it's over right, the recession is here. I don't think

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Speaker 5: that's what this is. I think the narrative coming from

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Speaker 5: the FED has to be Hey, look, we're just looking

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Speaker 5: to extend the cycle, right, We're looking to extend the expansion.

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Speaker 5: I think so the FED has a real opportunity here

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Speaker 5: to sort of shift the narrative, and I would argue

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Speaker 5: that they're starting the process now.

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Speaker 1: Tom Porcelli from Peacham and speaking of the FED, the

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Speaker 1: head of the Saint Louis FED, Alberto Muslim, says it's

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Speaker 1: time for raid cuts.

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Speaker 6: It now appears that the balance of risks on inflation

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Speaker 6: and unemployment have shifted absent and economic shocks. The risk

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Speaker 6: of inflation rising seems to have declined, while the risk

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Speaker 6: of unemployment rising further seems to have increased. From my perspective,

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Speaker 6: the risk of both sides of the mandate see more balanced. Accordingly,

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Speaker 6: the time may be nearing when an adjustment to moderate

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Speaker 6: restrictive policy may be appropriate.

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Speaker 1: Alberto Musilim there he is the head of the Saint

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Speaker 1: Lewis FED, and he views inflation as back on the

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Speaker 1: path toward the fed's two percent target, and he no

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Speaker 1: longer sees the labor market as poising a risk to inflation.

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Speaker 1: At the same time, today we heard from the head

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Speaker 1: of the Lanta fed Rafael Bostik. He was telling the

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Speaker 1: Financial Times he's open to a rate cut. In September,

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Speaker 1: after the Bell, we heard from Applied Materials, the company

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Speaker 1: giving an underwhelming sales forecast. The market had been looking

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Speaker 1: for greater spending by chip makers on equipment related to

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Speaker 1: artificial intelligence. Walmart has raised its profit outlook for the

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Speaker 1: year on Bett's more shoppers will come in looking for deals.

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Speaker 1: We heard from Greg Mellick, Senior managing director at Evercore ISI.

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Speaker 1: He's saying that Walmart's been able to maintain profits without

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Speaker 1: raising prices.

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Speaker 7: They've been doing investing a lot in automation to get

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Speaker 7: more productive. It also comes from their new businesses, whether

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Speaker 7: it's be advertising or e commerce or marketplace that actually

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Speaker 7: start help with driver higher gross margin rate. So surely

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Speaker 7: I would say it's s driven by productivity and the

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Speaker 7: growth of new businesses that's helping them grow gross margin.

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Speaker 1: Greg Mellick from Evercore ISI. Shares and Walmart today were

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Speaker 1: up six point six percent. And that is news when

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Speaker 1: you wanted with Bloomberg News. Now now I'm Doug Prisner

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Speaker 1: and this is Bloomberg.

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Speaker 5: MHM