1
00:00:02,480 --> 00:00:06,800
Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

2
00:00:09,720 --> 00:00:11,480
Speaker 2: Good morning, I'm Nathan Hager.

3
00:00:11,400 --> 00:00:14,640
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.

4
00:00:14,880 --> 00:00:18,360
Speaker 3: Karen, we begin with a presidential race in uncharted territory.

5
00:00:18,480 --> 00:00:21,840
Speaker 3: After weeks of mounting pressure from lawmakers and donors within

6
00:00:21,920 --> 00:00:25,079
Speaker 3: his own party, President Joe Biden has bowed out of

7
00:00:25,120 --> 00:00:27,720
Speaker 3: the twenty twenty four race and thrown his support behind

8
00:00:27,720 --> 00:00:30,920
Speaker 3: his Vice President Kamala Harris to take his place at

9
00:00:30,920 --> 00:00:33,959
Speaker 3: the top of the Democratic ticket. Some Democrats have been

10
00:00:34,040 --> 00:00:37,440
Speaker 3: quick to get behind the president's decision, including Progressive Senator

11
00:00:37,520 --> 00:00:39,520
Speaker 3: Elizabeth Warren of Massachusetts.

12
00:00:39,840 --> 00:00:43,960
Speaker 4: I'm endorsing Vice President Kamala Harris because she's ready to

13
00:00:44,280 --> 00:00:47,760
Speaker 4: step up, bring our party together, go toe to toe

14
00:00:47,760 --> 00:00:51,040
Speaker 4: with Donald Trump and win in November.

15
00:00:51,159 --> 00:00:54,840
Speaker 3: Along with Senator Warren, former President Bill Clinton and Hillary Clinton,

16
00:00:54,880 --> 00:00:58,560
Speaker 3: the twenty sixteen nominee, are also backing Harris. Former President

17
00:00:58,560 --> 00:01:01,120
Speaker 3: Barack Obama put out a state been praising Biden, but

18
00:01:01,200 --> 00:01:05,000
Speaker 3: stopped short of endorsing the vice president. Senator Richard Blumenthal

19
00:01:05,040 --> 00:01:07,319
Speaker 3: of Connecticut says this will not be a coronation.

20
00:01:07,880 --> 00:01:12,560
Speaker 5: This process will be open and orderly and responsive to

21
00:01:12,760 --> 00:01:16,360
Speaker 5: the delegates and to all Americans who elected none.

22
00:01:16,280 --> 00:01:18,760
Speaker 3: And several Democrats who had been seen as contenders if

23
00:01:18,760 --> 00:01:21,520
Speaker 3: Biden were to step aside have also endorsed Haterris. They

24
00:01:21,560 --> 00:01:24,960
Speaker 3: include governor's Gretchen Whitmer, Gavin Newsom, and Josh Shapiro. But

25
00:01:25,080 --> 00:01:28,200
Speaker 3: an aid to West Virginia Senator Joe Manchin, who recently

26
00:01:28,200 --> 00:01:31,160
Speaker 3: turned independent, says he is thinking of rejoining the Democratic

27
00:01:31,200 --> 00:01:34,600
Speaker 3: Party to mount his own presidential campaign now that Biden.

28
00:01:34,319 --> 00:01:35,319
Speaker 6: Is out well.

29
00:01:35,400 --> 00:01:39,280
Speaker 1: Nathan Harris has to still officially secure the nomination, but

30
00:01:39,319 --> 00:01:42,280
Speaker 1: if she does, who will be her running mate? Bloomberg?

31
00:01:42,400 --> 00:01:44,960
Speaker 1: John Tucker looks at that side of the story, John.

32
00:01:44,920 --> 00:01:48,680
Speaker 7: And Karen politicians in the swing states, drawing particular scrutiny.

33
00:01:48,760 --> 00:01:52,000
Speaker 7: Governor Gretchen Whitmer Michigan would generate the first ever all

34
00:01:52,080 --> 00:01:54,760
Speaker 7: female ticket in the race with the top office. She

35
00:01:54,960 --> 00:01:58,760
Speaker 7: handily won re election at twenty twenty two. Illinois Governor JB.

36
00:01:58,840 --> 00:02:02,520
Speaker 7: Pritzker a key Democratic power broker with his family's multi

37
00:02:02,600 --> 00:02:07,040
Speaker 7: billion dollar fortune. Pennsylvania Governor John Shapiro is a rising

38
00:02:07,080 --> 00:02:10,400
Speaker 7: young star in the party with strong approval ratings. Senator

39
00:02:10,400 --> 00:02:13,840
Speaker 7: Mark Kelly of Arizona, former astronaut and go for veteran.

40
00:02:14,160 --> 00:02:17,680
Speaker 7: He would lend significant national security bonafides to the ticket.

41
00:02:17,960 --> 00:02:21,280
Speaker 7: Also being mentioned, he is the Transportation Secretary Pete Boodages.

42
00:02:21,600 --> 00:02:23,800
Speaker 7: He would be the first openly gay man to be

43
00:02:23,919 --> 00:02:27,680
Speaker 7: nominated for vice president. Meantime, Joe Biden's exit and the

44
00:02:27,760 --> 00:02:31,920
Speaker 7: endorsement of Kamala Harris generated an avalanche of cash in

45
00:02:31,960 --> 00:02:35,720
Speaker 7: the first few hours online on Sunday. Democratic donations totaled

46
00:02:35,760 --> 00:02:39,200
Speaker 7: at least fifty million dollars. That would mark the single

47
00:02:39,360 --> 00:02:43,720
Speaker 7: biggest day since the twenty twenty election. John Tucker, Bloomberg Radio.

48
00:02:43,600 --> 00:02:46,880
Speaker 3: Okay, John, thank you now. Former President Donald Trump's aides

49
00:02:46,960 --> 00:02:50,840
Speaker 3: weren't surprised by President Biden's exit. The Trump campaign had

50
00:02:50,880 --> 00:02:54,600
Speaker 3: been developing contingency plans to take on Vice President Harris.

51
00:02:54,960 --> 00:02:58,680
Speaker 3: Speaking to Fox News before President Biden's announcement, Donald Trump

52
00:02:58,680 --> 00:03:00,720
Speaker 3: made his feelings about hair Harris clear.

53
00:03:01,120 --> 00:03:02,520
Speaker 8: She's not a competent person.

54
00:03:02,760 --> 00:03:03,880
Speaker 6: She shouldn't be president.

55
00:03:04,000 --> 00:03:06,040
Speaker 8: I mean she's being left at all over the world.

56
00:03:06,280 --> 00:03:08,600
Speaker 3: The Trump campaign says it can beat Harris by playing

57
00:03:08,639 --> 00:03:11,959
Speaker 3: up her leading role tackling immigration policy in the Biden administration.

58
00:03:12,320 --> 00:03:15,800
Speaker 3: Trump co campaign manager Chris Losovita has called Harris the

59
00:03:15,840 --> 00:03:18,200
Speaker 3: border Zar and has said he would love to use

60
00:03:18,200 --> 00:03:19,520
Speaker 3: that message against her.

61
00:03:20,040 --> 00:03:22,640
Speaker 1: Well, Nathan Harris is expected to hit the campaign trail

62
00:03:22,840 --> 00:03:25,440
Speaker 1: right away, and we get more with Bloomberg's Bill Fairies.

63
00:03:25,840 --> 00:03:28,080
Speaker 9: She's going to be the face of this White House

64
00:03:28,120 --> 00:03:29,280
Speaker 9: for quite a few things.

65
00:03:29,600 --> 00:03:30,639
Speaker 10: We know she's giving.

66
00:03:31,240 --> 00:03:33,959
Speaker 9: She's going to be before a podium at eleven thirty

67
00:03:33,960 --> 00:03:39,120
Speaker 9: AM and Washington at a pre scheduler for college athletes.

68
00:03:40,520 --> 00:03:42,720
Speaker 11: She will very likely be very.

69
00:03:42,560 --> 00:03:47,200
Speaker 9: Involved in Israeli Prime Minister Benjamin Netanyahu's visit to Washington

70
00:03:47,280 --> 00:03:49,760
Speaker 9: later this week. I would expect to see her in

71
00:03:49,800 --> 00:03:51,680
Speaker 9: every briefing that the President is in.

72
00:03:52,120 --> 00:03:54,800
Speaker 1: And Bloomberg's Bill Fairies knows that Benjamin et Ya, who

73
00:03:54,880 --> 00:03:57,520
Speaker 1: is scheduled to address Congress on Wednesday.

74
00:03:57,200 --> 00:04:00,360
Speaker 3: And Karen Praise is coming in for President Biden from

75
00:04:00,440 --> 00:04:02,480
Speaker 3: around the globe. We get that part of the story

76
00:04:02,520 --> 00:04:03,840
Speaker 3: from Bloomberg zed Baxter.

77
00:04:04,280 --> 00:04:07,040
Speaker 12: They come in as tributes from heads of state. Kier

78
00:04:07,160 --> 00:04:11,120
Speaker 12: Starmer Uk Prime Minister, I respect President Biden's decision. I

79
00:04:11,160 --> 00:04:13,920
Speaker 12: look forward to us working together during the remainder of

80
00:04:13,960 --> 00:04:19,080
Speaker 12: his presidency. German Chancellor Olaf Schultz, thanks to him, trans

81
00:04:19,080 --> 00:04:23,080
Speaker 12: Atlantic cooperation is close, NATO is strong, and the US

82
00:04:23,160 --> 00:04:26,719
Speaker 12: is a good and reliable partner for US. Isaac Herzoc

83
00:04:26,920 --> 00:04:30,560
Speaker 12: Israeli President. I want to extend my heartfelt thanks to

84
00:04:30,640 --> 00:04:33,760
Speaker 12: Joe Biden for his friendship and steadfast support for the

85
00:04:33,800 --> 00:04:38,480
Speaker 12: Israeli people over his decades long career and Canadian Prime

86
00:04:38,480 --> 00:04:42,800
Speaker 12: Minister Justin Trudeau. I've known President Biden for years. He's

87
00:04:42,839 --> 00:04:45,800
Speaker 12: a great man and everything he does is guided by

88
00:04:45,800 --> 00:04:49,680
Speaker 12: his love for his country. Ed Baxter, Bloomberg Radio, all.

89
00:04:49,680 --> 00:04:52,560
Speaker 1: Right, ed, thank you will. Investors have been amassing wagers

90
00:04:52,600 --> 00:04:55,360
Speaker 1: on Donald Trump's return to the White House for weeks,

91
00:04:55,400 --> 00:04:58,320
Speaker 1: trimming holdings of long term US bonds and buying bitcoin.

92
00:04:58,760 --> 00:05:01,880
Speaker 1: Now they're considering their Biden's exit from the race boosts

93
00:05:01,880 --> 00:05:04,920
Speaker 1: the odds of a Democrat victory. On Bloomberg's Jeff Bellinger

94
00:05:04,960 --> 00:05:07,200
Speaker 1: takes a look at some key sectors in the spotlight.

95
00:05:07,680 --> 00:05:11,320
Speaker 8: Electric vehicles will be in focus. The Biden administration has

96
00:05:11,360 --> 00:05:15,680
Speaker 8: made a strong push toward electrification of transportation, while Trump

97
00:05:15,720 --> 00:05:20,280
Speaker 8: has said he will entirely reverse Biden's ev policy. Private

98
00:05:20,320 --> 00:05:23,480
Speaker 8: prison stocks have risen recently as they were seen benefiting

99
00:05:23,520 --> 00:05:27,240
Speaker 8: in a Republican sweep. Given Trump's tough stance on immigration.

100
00:05:27,800 --> 00:05:32,080
Speaker 8: Trump's enthusiastic stance on cryptocurrency has made this group a

101
00:05:32,120 --> 00:05:36,599
Speaker 8: bet on his presidency. Regulation heavy sectors such as financials

102
00:05:36,640 --> 00:05:39,760
Speaker 8: are seen doing better under Republicans, who are seen as

103
00:05:39,880 --> 00:05:44,440
Speaker 8: more lenient than Democrats. Healthcare is yet another regulation heavy

104
00:05:44,520 --> 00:05:48,760
Speaker 8: group that may face easier rules under Republicans, and renewable

105
00:05:48,880 --> 00:05:52,039
Speaker 8: energy and green energy focused stocks will also be in

106
00:05:52,080 --> 00:05:55,159
Speaker 8: the spotlight since it is yet another point of contention

107
00:05:55,400 --> 00:05:59,640
Speaker 8: between Republicans and Democrats. Jeff Bellinger, Bloomberg Radio.

108
00:06:00,200 --> 00:06:02,560
Speaker 3: Jeffs for markets this morning, We're seeing a bit of

109
00:06:02,640 --> 00:06:07,159
Speaker 3: dollar weakness. Treasuries are rising after President Biden's and to

110
00:06:07,279 --> 00:06:11,000
Speaker 3: his reelection bid. Stock futures are higher, led by tech stocks.

111
00:06:11,400 --> 00:06:14,280
Speaker 3: Investors will have their hands full dealing with earnings this

112
00:06:14,440 --> 00:06:17,400
Speaker 3: week in the tech sector. Tesla and will be the

113
00:06:17,440 --> 00:06:20,360
Speaker 3: first of the so called Magnificent Seven to report tomorrow.

114
00:06:20,720 --> 00:06:20,880
Speaker 9: Well.

115
00:06:20,960 --> 00:06:24,919
Speaker 1: Nathan Delta Airlines is apologizing for canceling thousands of flights

116
00:06:25,000 --> 00:06:27,840
Speaker 1: during the busiest travel weekend of the summer as many

117
00:06:27,839 --> 00:06:31,760
Speaker 1: of his systems failed following the catastrophic Crown strikeoutage on Friday.

118
00:06:32,040 --> 00:06:34,760
Speaker 1: The Atlanta based carrier stood out as the airline worse

119
00:06:34,880 --> 00:06:39,000
Speaker 1: affected by the technology meltdown. According to aviation data firm Syrium,

120
00:06:39,440 --> 00:06:43,400
Speaker 1: US carriers, which form the world's biggest air travel market,

121
00:06:43,760 --> 00:06:50,400
Speaker 1: were by far the hardest hit among airlines globally. And

122
00:06:50,480 --> 00:06:51,600
Speaker 1: it's time now for a look at some of the

123
00:06:51,640 --> 00:06:53,960
Speaker 1: other stories making news in New York and around the world.

124
00:06:53,960 --> 00:06:57,000
Speaker 1: For that, we're joined by Bloomberg's Michael Barr Michael, good Morning.

125
00:06:57,080 --> 00:07:00,360
Speaker 13: Good morning here and local politicians are reacting to President

126
00:07:00,480 --> 00:07:03,719
Speaker 13: Joe Biden dropping out of the twenty twenty four presidential race.

127
00:07:04,279 --> 00:07:07,360
Speaker 13: New York Mayor Eric Adams, in a statement, says America

128
00:07:07,839 --> 00:07:10,840
Speaker 13: owes a debt of gratitude to President Joe Biden for

129
00:07:10,880 --> 00:07:14,320
Speaker 13: his decades of service. He and his team took us

130
00:07:14,320 --> 00:07:17,360
Speaker 13: out of COVID, stabilize the country and restore the soul

131
00:07:17,440 --> 00:07:20,400
Speaker 13: of the nation. President Biden is now again delivering for

132
00:07:20,520 --> 00:07:23,720
Speaker 13: the American people by passing the torch at a critical

133
00:07:23,760 --> 00:07:26,960
Speaker 13: moment when the country needs strong leadership from a new generation.

134
00:07:27,560 --> 00:07:31,560
Speaker 13: In New Haven, Connecticut, Democratic Senator Richard Blumenthal praised Biden's

135
00:07:31,560 --> 00:07:32,560
Speaker 13: decision to bow out.

136
00:07:32,800 --> 00:07:38,880
Speaker 5: He has helped to cement his legacy of leadership and

137
00:07:39,120 --> 00:07:41,840
Speaker 5: vision with this decision.

138
00:07:42,480 --> 00:07:46,520
Speaker 13: Meanwhile, Republican Congresswoman Elise Stefanic of New York's twenty first

139
00:07:46,560 --> 00:07:50,360
Speaker 13: district says if Joe Biden can't run for reelection, he

140
00:07:50,440 --> 00:07:54,240
Speaker 13: is unable and unfit to serve as president of the

141
00:07:54,360 --> 00:07:59,840
Speaker 13: United States. He must immediately resign. US Secret Service Director

142
00:08:00,080 --> 00:08:04,160
Speaker 13: Kimberly Cheatle will testify before Congressional Committee today about the

143
00:08:04,160 --> 00:08:08,360
Speaker 13: recent failed assassination attempt against former President Trump at a

144
00:08:08,400 --> 00:08:13,280
Speaker 13: Pennsylvania rally. House Oversite Chairman James Comerce says today's hearing

145
00:08:13,600 --> 00:08:16,160
Speaker 13: will be the beginning of the process to get answers

146
00:08:16,160 --> 00:08:19,320
Speaker 13: for the American people, including how the gunman made it

147
00:08:19,440 --> 00:08:22,680
Speaker 13: on top of a roof cheatles as their agency is

148
00:08:22,720 --> 00:08:26,680
Speaker 13: reviewing its actions. More than a dozen Congressional Republicans, including

149
00:08:26,680 --> 00:08:29,920
Speaker 13: how Speaker Mike Johnson, say Cheatle needs to resign.

150
00:08:30,320 --> 00:08:32,840
Speaker 7: Director Cheatle has shown the world and said that she

151
00:08:32,880 --> 00:08:34,520
Speaker 7: has different priorities she needs to go.

152
00:08:35,200 --> 00:08:38,840
Speaker 13: Speaker Johnson was on ABC's This Week Heard Sundays on Bloomberg.

153
00:08:39,400 --> 00:08:42,360
Speaker 13: There are fresh warnings that smoke from fires in the

154
00:08:42,360 --> 00:08:46,920
Speaker 13: West are impacting air quality across the region. A wildfire

155
00:08:46,960 --> 00:08:52,520
Speaker 13: in Riverside County, California, is burning homes and triggering evacuation orders.

156
00:08:53,040 --> 00:08:55,520
Speaker 13: Riverside County Council Member Sean Mill.

157
00:08:55,679 --> 00:08:59,440
Speaker 10: We'd ask that you stay out of the area, and

158
00:08:59,480 --> 00:09:02,480
Speaker 10: if you've been as to evacuate, please comply with the

159
00:09:02,520 --> 00:09:07,120
Speaker 10: evacuation orders for your safety and those of our first responders.

160
00:09:07,800 --> 00:09:11,560
Speaker 13: Forecasters warn that smoke from the Western fires, along with

161
00:09:11,640 --> 00:09:16,600
Speaker 13: smoke from Canadian wildfires, we'll push farther east today, bringing

162
00:09:16,679 --> 00:09:20,400
Speaker 13: hazy skies across the northern plains. Global News twenty four

163
00:09:20,400 --> 00:09:23,679
Speaker 13: hours a day and whenever you want it with Bloomberg News. Now,

164
00:09:23,840 --> 00:09:26,000
Speaker 13: I'm Michael Barr, and this is Bloomberg Heron.

165
00:09:26,160 --> 00:09:33,080
Speaker 1: All right, Michael, thank you. Time now for the Bloomberg

166
00:09:33,160 --> 00:09:35,000
Speaker 1: Sports Update with John stash Hour.

167
00:09:35,080 --> 00:09:37,360
Speaker 6: John, good morning, Good morning carying the last round, the

168
00:09:37,440 --> 00:09:39,840
Speaker 6: last major of the year. Terrific one for the thirty

169
00:09:39,920 --> 00:09:43,280
Speaker 6: year old from San Diego, Xander Shaffley, a bogie free

170
00:09:43,360 --> 00:09:45,040
Speaker 6: sixty five. That's the same score he had in the

171
00:09:45,040 --> 00:09:47,000
Speaker 6: fun a round two months ago in Louisville when he

172
00:09:47,000 --> 00:09:50,200
Speaker 6: won the PGA Championship. That was his first career major

173
00:09:50,360 --> 00:09:53,000
Speaker 6: victory after being o for twenty nine and Royal trud

174
00:09:53,040 --> 00:09:56,000
Speaker 6: in Scotland. Shoftley added the Open Championship.

175
00:09:56,280 --> 00:09:59,679
Speaker 9: I was jumped of doing it. The h that walk

176
00:09:59,760 --> 00:10:03,319
Speaker 9: up a truly is the coolest, with the yellow leader

177
00:10:03,360 --> 00:10:06,480
Speaker 9: boards and the fans and the standing ovation, it really

178
00:10:06,600 --> 00:10:08,559
Speaker 9: is the coolest, one of the coolest feelings I've ever

179
00:10:08,559 --> 00:10:10,520
Speaker 9: had in my life. I got chills walking down and

180
00:10:11,040 --> 00:10:14,080
Speaker 9: quickly had to sap myself back into focus because the

181
00:10:14,080 --> 00:10:15,000
Speaker 9: tournament wasn't over yet.

182
00:10:15,080 --> 00:10:18,040
Speaker 6: Shotley finished nine under par one by two over Justin

183
00:10:18,120 --> 00:10:20,520
Speaker 6: Rose and Billy Horschell. Yankees and Rays will conclude their

184
00:10:20,520 --> 00:10:22,960
Speaker 6: four game series this afternoons the Stadium of Tampa Bay.

185
00:10:22,960 --> 00:10:24,760
Speaker 6: Two wins over the weekend as shirt of at least

186
00:10:24,760 --> 00:10:27,440
Speaker 6: as splits of the Yanks have won only one series

187
00:10:27,520 --> 00:10:30,440
Speaker 6: since mid June. The Raise, who hit four home runs Saturday,

188
00:10:30,760 --> 00:10:33,000
Speaker 6: came back with four more and won six to four

189
00:10:33,080 --> 00:10:35,839
Speaker 6: in defeat a long three run shot for Aaron Judge

190
00:10:35,880 --> 00:10:38,640
Speaker 6: his thirty fifth Dodgers last night hit six home runs

191
00:10:38,840 --> 00:10:41,559
Speaker 6: Shoeotani his thirtieth LA for this a sweep of the

192
00:10:41,600 --> 00:10:44,959
Speaker 6: Red Sox nine to six. Orioles lost three two in Texas,

193
00:10:44,960 --> 00:10:47,560
Speaker 6: so Baltimore remains two games ahead of the Yankees. Mets

194
00:10:47,640 --> 00:10:49,760
Speaker 6: lost in Miami four to two. Three run homer for

195
00:10:49,760 --> 00:10:52,400
Speaker 6: the Marlins Jazz Chisholm. His name's been mentioned in the

196
00:10:52,400 --> 00:10:55,199
Speaker 6: offening trade rumors. The series ends tonight. Nationals beat the

197
00:10:55,240 --> 00:10:56,720
Speaker 6: Reds five to two on a three run homer in

198
00:10:56,720 --> 00:11:00,000
Speaker 6: the eighth FI. That's rookie feet on James Wood Induction Day,

199
00:11:00,160 --> 00:11:03,160
Speaker 6: Cooper's down. Adrian Beltrained voted in his first time on

200
00:11:03,200 --> 00:11:06,280
Speaker 6: the ballot, joined by Todd Helton, Joe Mauer and Jim

201
00:11:06,360 --> 00:11:08,640
Speaker 6: Leland became the twenty third to make it as a manager.

202
00:11:08,920 --> 00:11:11,240
Speaker 6: Johns Dashedward Bloomberg Sports Karen Nathan.

203
00:11:13,160 --> 00:11:17,280
Speaker 14: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

204
00:11:17,400 --> 00:11:20,280
Speaker 14: and around the world on Bloomberg dot Com and the

205
00:11:20,320 --> 00:11:24,440
Speaker 14: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

206
00:11:24,480 --> 00:11:27,720
Speaker 14: Nathan Hager. President Biden's decision to abandon his re election

207
00:11:27,920 --> 00:11:31,080
Speaker 14: campaign and endorse Vice President Kamala Harris is setting off

208
00:11:31,120 --> 00:11:34,280
Speaker 14: a four month sprint for Democrats to keep their bid

209
00:11:34,320 --> 00:11:36,440
Speaker 14: for holding onto the White House alive and to hold

210
00:11:36,480 --> 00:11:39,000
Speaker 14: off a Trump vance campaign that had been on the

211
00:11:39,120 --> 00:11:42,280
Speaker 14: rise since the Republican Convention. From where we are joined

212
00:11:42,280 --> 00:11:46,240
Speaker 14: this morning by Terry Haynes, the founder of Pangaea policy. Terry,

213
00:11:46,280 --> 00:11:48,920
Speaker 14: We've had an evening and an early morning to wrap

214
00:11:48,920 --> 00:11:52,360
Speaker 14: our heads around a President Biden's decision here obviously a

215
00:11:52,400 --> 00:11:56,400
Speaker 14: major shakeup, and the President has of course endorsed his

216
00:11:56,679 --> 00:11:59,680
Speaker 14: vice president. Do you see the Democratic Party getting quickly

217
00:12:00,000 --> 00:12:03,160
Speaker 14: behind a vice president Kamala Harris campaign or is this

218
00:12:03,280 --> 00:12:04,520
Speaker 14: going to be a fight?

219
00:12:05,679 --> 00:12:08,520
Speaker 11: Good morning, Nathan. You know, I do think that they're

220
00:12:08,520 --> 00:12:14,480
Speaker 11: going to coalesce around Harris fairly quickly. Harris, Harris needed

221
00:12:14,480 --> 00:12:16,840
Speaker 11: to do the first thing that I think she's already done,

222
00:12:16,880 --> 00:12:20,360
Speaker 11: which is actually take on the mantle of the nominee

223
00:12:20,640 --> 00:12:22,760
Speaker 11: and act like she's the nominee. And I think that's

224
00:12:22,920 --> 00:12:26,199
Speaker 11: very important. If one thing that we've learned of the

225
00:12:26,280 --> 00:12:29,040
Speaker 11: last month from Democrats is that they're not very good

226
00:12:29,160 --> 00:12:32,480
Speaker 11: at telling people know or please stop to their face.

227
00:12:32,559 --> 00:12:35,480
Speaker 11: So Harris needs to fill a gap, and I think

228
00:12:35,520 --> 00:12:38,679
Speaker 11: she's doing that. I think Harris. It's also in Harris's

229
00:12:38,760 --> 00:12:43,040
Speaker 11: benefit to have a situation where most of the focus

230
00:12:43,160 --> 00:12:47,040
Speaker 11: and most of the competition goes towards the vice presidential nomination,

231
00:12:47,200 --> 00:12:50,160
Speaker 11: and I think you're seeing both of those things today.

232
00:12:50,240 --> 00:12:54,400
Speaker 11: By and large, it is important for them to proceed

233
00:12:54,679 --> 00:12:59,000
Speaker 11: by talking a lot about about and to the delegates, though,

234
00:12:59,040 --> 00:13:03,160
Speaker 11: because one less obvious factor here in Biden's decision was

235
00:13:03,240 --> 00:13:06,480
Speaker 11: that the delegates were not going to stand for virtually

236
00:13:06,520 --> 00:13:09,360
Speaker 11: nominating Biden. That wasn't going to happen, and that delegate

237
00:13:09,400 --> 00:13:11,120
Speaker 11: revolt was key in Biden's decision.

238
00:13:11,360 --> 00:13:15,440
Speaker 3: Now, the President did win the support of ninety nine

239
00:13:15,480 --> 00:13:20,400
Speaker 3: percent of the pledge delegates with him endorsing Vice President Harris.

240
00:13:20,440 --> 00:13:23,400
Speaker 3: Do they immediately go to her or do they have

241
00:13:23,440 --> 00:13:24,560
Speaker 3: an open decision to make?

242
00:13:25,200 --> 00:13:27,520
Speaker 11: No, they do have their own decision to make. And

243
00:13:27,520 --> 00:13:32,199
Speaker 11: that's a very smart question because you know they are pledged.

244
00:13:32,200 --> 00:13:34,120
Speaker 11: So what's going to end up having to happen is

245
00:13:34,160 --> 00:13:38,280
Speaker 11: that either he releases either he releases his delegates and

246
00:13:39,080 --> 00:13:44,040
Speaker 11: then they automatically ar coalesce around Harris, or the rules

247
00:13:44,080 --> 00:13:48,880
Speaker 11: of the convention are tweaked to speed Harris's nomination. I

248
00:13:48,960 --> 00:13:51,000
Speaker 11: think it's probably going to end up being the first.

249
00:13:51,360 --> 00:13:54,080
Speaker 11: They don't want to get into a situation where they

250
00:13:54,120 --> 00:13:56,040
Speaker 11: open up the convention rules.

251
00:13:56,800 --> 00:14:01,040
Speaker 3: How seriously do you take this? Read this balloon that's

252
00:14:01,080 --> 00:14:04,839
Speaker 3: been floated by Aids to Senator Mansion that he might

253
00:14:04,880 --> 00:14:05,840
Speaker 3: be thinking about a race.

254
00:14:05,920 --> 00:14:11,120
Speaker 11: Now, I have great professional admiration for Senator Mansion and

255
00:14:11,200 --> 00:14:17,440
Speaker 11: his method of practicing politics. My view of this, generally speaking,

256
00:14:17,679 --> 00:14:21,520
Speaker 11: is that firstly, the senator, the Senator wants something for

257
00:14:21,560 --> 00:14:24,480
Speaker 11: in terms of in exchange for his support. I don't

258
00:14:24,520 --> 00:14:28,160
Speaker 11: know what that would be just now, but but he

259
00:14:28,240 --> 00:14:31,240
Speaker 11: wants something. Secondly, he's trying to make the point that

260
00:14:31,440 --> 00:14:36,880
Speaker 11: the rush towards progressivism, that he thinks Harris and Bodies

261
00:14:36,880 --> 00:14:39,320
Speaker 11: a lot of the people that would support Harris and

262
00:14:39,360 --> 00:14:43,440
Speaker 11: Bodies run the risk of losing the election because they

263
00:14:43,480 --> 00:14:47,200
Speaker 11: will forget the broad and middle that that they need

264
00:14:47,200 --> 00:14:50,040
Speaker 11: the independence in particular in order to get there. So

265
00:14:51,400 --> 00:14:55,800
Speaker 11: he's he's he arrives with Buckshot in two different ways.

266
00:14:56,120 --> 00:14:59,760
Speaker 3: Does that point to a vice presidential running mate selection

267
00:15:00,080 --> 00:15:03,280
Speaker 3: concess that uh, that the Vice President Harris might be

268
00:15:03,320 --> 00:15:06,800
Speaker 3: thinking through Right now? We heard Senator Mansion talk about

269
00:15:06,800 --> 00:15:10,640
Speaker 3: the deep bench that could be there for the Democratic Party.

270
00:15:10,640 --> 00:15:13,880
Speaker 3: Does that include a potential running mate for Vice President Harris?

271
00:15:14,720 --> 00:15:16,880
Speaker 11: Yeah? I think so, you know, they need to balance,

272
00:15:17,440 --> 00:15:20,400
Speaker 11: they need a ticket balancer in some way, and you

273
00:15:20,440 --> 00:15:23,120
Speaker 11: know the you know, I put it with one of

274
00:15:23,160 --> 00:15:27,520
Speaker 11: your colleagues yesterday. The Captain obvious analysis here is to

275
00:15:28,160 --> 00:15:31,360
Speaker 11: say that what he needs is a swing state governor,

276
00:15:31,720 --> 00:15:33,600
Speaker 11: or what she needs is a swing state governor excuse me,

277
00:15:33,680 --> 00:15:36,680
Speaker 11: and uh, And I think that's probably the case. Yeah,

278
00:15:36,760 --> 00:15:38,680
Speaker 11: So I would look at I would look at people

279
00:15:38,760 --> 00:15:42,720
Speaker 11: like Governor Whittmer of Michigan, Governor Shapiro of Pennsylvania as

280
00:15:42,920 --> 00:15:46,400
Speaker 11: as filling that need not just because they're swing states,

281
00:15:46,400 --> 00:15:49,720
Speaker 11: but because they're they are fluent in in what i'll

282
00:15:49,760 --> 00:15:53,640
Speaker 11: call center speak, the ability to appeal to uh and

283
00:15:53,760 --> 00:15:56,800
Speaker 11: uh and have a voting record that tracks their appeal

284
00:15:56,920 --> 00:16:00,240
Speaker 11: from exactly the kind of voters that might be warious.

285
00:16:00,080 --> 00:16:04,080
Speaker 3: Paris just thirty seconds left. Terry is President Biden just

286
00:16:04,080 --> 00:16:05,200
Speaker 3: a four month lame duck?

287
00:16:05,280 --> 00:16:11,640
Speaker 11: Now, yes, yes he is. It's a situation where he'll

288
00:16:11,640 --> 00:16:16,520
Speaker 11: continue to exercise the powers of the presidency. Then his

289
00:16:16,640 --> 00:16:19,200
Speaker 11: presence will will frankly be be a somewhat of a

290
00:16:19,280 --> 00:16:21,280
Speaker 11: drag on the Harris ticket due to the fact that

291
00:16:21,880 --> 00:16:23,440
Speaker 11: he dropped out under the services head.

292
00:16:23,720 --> 00:16:26,600
Speaker 2: This is Bloomberg day Break Today, your morning brief on

293
00:16:26,680 --> 00:16:30,320
Speaker 2: the stories making news from Wall Street to Washington and beyond.

294
00:16:30,480 --> 00:16:33,280
Speaker 1: Look for us on your podcast feed at six am

295
00:16:33,320 --> 00:16:37,000
Speaker 1: Eastern each morning, on Apple, Spotify, and anywhere else you

296
00:16:37,080 --> 00:16:38,240
Speaker 1: get your podcasts.

297
00:16:38,360 --> 00:16:41,040
Speaker 2: You can also listen live each morning starting at five

298
00:16:41,120 --> 00:16:43,680
Speaker 2: am Wall Street Time on Bloomberg eleven three to zero

299
00:16:43,760 --> 00:16:46,560
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,

300
00:16:46,680 --> 00:16:49,920
Speaker 2: Bloomberg one six to one in Boston, and Bloomberg ninety

301
00:16:49,920 --> 00:16:51,320
Speaker 2: sixty in San Francisco.

302
00:16:51,720 --> 00:16:54,880
Speaker 1: Our flagship New York station is also available on your

303
00:16:54,920 --> 00:16:59,680
Speaker 1: Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty

304
00:17:00,040 --> 00:17:02,920
Speaker 1: plus listen coast to coast on the Bloomberg Business app,

305
00:17:03,000 --> 00:17:07,000
Speaker 1: serious XM, the iHeartRadio app, and on Bloomberg dot com.

306
00:17:07,040 --> 00:17:10,000
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Join us again

307
00:17:10,040 --> 00:17:12,760
Speaker 1: tomorrow morning for all the news you need to start

308
00:17:12,800 --> 00:17:15,400
Speaker 1: your day right here on Bloomberg Daybreak