WEBVTT - Investors Await Inflation Data; Biden-Trump Debate Preview

0:00:02.480 --> 0:00:12.080
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news. Good morning, I'm Nathan

0:00:12.119 --> 0:00:15.080
<v Speaker 1>Hager and I'm Karen Moscow. Here are the stories we're

0:00:15.120 --> 0:00:16.320
<v Speaker 1>following today, Aaron.

0:00:16.360 --> 0:00:19.120
<v Speaker 2>Traders are gearing up for a week of political risks

0:00:19.200 --> 0:00:22.439
<v Speaker 2>and inflation data as we close out the first.

0:00:22.120 --> 0:00:23.639
<v Speaker 3>Half of twenty twenty four.

0:00:24.000 --> 0:00:27.440
<v Speaker 2>Investors will be closely monitoring the first US presidential debate,

0:00:27.520 --> 0:00:30.160
<v Speaker 2>while the first round of voting in the French legislative

0:00:30.200 --> 0:00:32.839
<v Speaker 2>election is set to take place this weekend. As for

0:00:32.880 --> 0:00:35.839
<v Speaker 2>the inflation data that comes Friday with the Federal Reserves

0:00:35.880 --> 0:00:40.239
<v Speaker 2>Preferred Gage of consumer prices, the PCE deflator. Nancy Tangler,

0:00:40.360 --> 0:00:43.800
<v Speaker 2>CEO at Laffertangler Investment still thinks earnings is.

0:00:43.760 --> 0:00:44.839
<v Speaker 3>The key, you know.

0:00:44.880 --> 0:00:47.920
<v Speaker 4>I think you ignore at this point what the Fed

0:00:48.040 --> 0:00:52.400
<v Speaker 4>is saying, what data they're depending on this next meeting,

0:00:52.720 --> 0:00:57.440
<v Speaker 4>because the trend line in corporate earnings is positive and

0:00:57.760 --> 0:01:00.600
<v Speaker 4>margins are expanding. Now not every company we saw it

0:01:00.680 --> 0:01:03.800
<v Speaker 4>last quarter. If you missed on any metric, you got clabbered.

0:01:04.440 --> 0:01:07.360
<v Speaker 2>Nancy Tangler of Laffertangler Investments notes the S and P

0:01:07.480 --> 0:01:09.839
<v Speaker 2>five hundred has risen three weeks in a row.

0:01:10.360 --> 0:01:13.000
<v Speaker 1>Well, Nathan, the stock bull run may have a very

0:01:13.040 --> 0:01:16.600
<v Speaker 1>little upside. That's the conclusion of our latest Bloomberg survey,

0:01:16.640 --> 0:01:19.200
<v Speaker 1>and we get the details from Bloomberg's Jeff Bellager.

0:01:19.800 --> 0:01:22.360
<v Speaker 5>The twenty twenty four rally has driven the S and

0:01:22.400 --> 0:01:25.920
<v Speaker 5>P five hundred to thirty one record closing highs, and

0:01:26.000 --> 0:01:29.520
<v Speaker 5>according to the latest Bloomberg Markets Live Pulse survey of

0:01:29.600 --> 0:01:33.440
<v Speaker 5>almost six hundred respondents, that has left the asset class

0:01:33.440 --> 0:01:38.000
<v Speaker 5>more overpriced than US credit or gold. Investors aren't looking

0:01:38.040 --> 0:01:40.800
<v Speaker 5>to hit the sell button just yet, but signs of

0:01:40.840 --> 0:01:44.680
<v Speaker 5>skittishness are evident, as about half of survey takers say

0:01:44.760 --> 0:01:47.360
<v Speaker 5>stocks will see the beginning of a correction of at

0:01:47.440 --> 0:01:51.400
<v Speaker 5>least percent this year. Thirty five percent say that will

0:01:51.400 --> 0:01:55.600
<v Speaker 5>happen in twenty twenty five. Artificial intelligence, a key driver

0:01:55.760 --> 0:01:59.280
<v Speaker 5>of the market's almost fifteen percent advanced this year, is

0:01:59.320 --> 0:02:02.000
<v Speaker 5>seen as the more most likely trigger for a sell off.

0:02:02.280 --> 0:02:04.200
<v Speaker 5>Jeff Beldinger, Bloomberg Radio.

0:02:04.360 --> 0:02:06.480
<v Speaker 2>All right, Jeff, thanks so ahead of inflation data at

0:02:06.480 --> 0:02:08.280
<v Speaker 2>the end of the week. The other key event for

0:02:08.360 --> 0:02:12.440
<v Speaker 2>investors and voters comes this Thursday night. That's when President

0:02:12.440 --> 0:02:15.280
<v Speaker 2>Biden and former President Trump meet for their first debate

0:02:15.400 --> 0:02:18.959
<v Speaker 2>hosted by CNN. Senator Elizabeth Warren is on the Biden

0:02:19.000 --> 0:02:22.120
<v Speaker 2>campaign's national Advisory Board. She says the debate will draw

0:02:22.160 --> 0:02:23.239
<v Speaker 2>a clear contrast.

0:02:23.800 --> 0:02:28.040
<v Speaker 6>If Donald Trump is elected to the presidency, he and

0:02:28.120 --> 0:02:33.720
<v Speaker 6>the extremist Republicans are coming after abortion, contraception, and IVF

0:02:34.080 --> 0:02:36.919
<v Speaker 6>in every single state in this country.

0:02:37.160 --> 0:02:40.200
<v Speaker 2>Senator Warren spoke on ABC's This Week. The ninety minute

0:02:40.200 --> 0:02:43.240
<v Speaker 2>debate will include no audience. The candidate's microphones will be

0:02:43.360 --> 0:02:46.200
<v Speaker 2>turned off when it's not their turn to speak. Republican

0:02:46.200 --> 0:02:49.160
<v Speaker 2>Governor Christy Nome of South Dakota was asked on NBC's

0:02:49.200 --> 0:02:51.359
<v Speaker 2>Meet the Press if former President Trump will be able

0:02:51.400 --> 0:02:53.040
<v Speaker 2>to back off personal insults.

0:02:53.440 --> 0:02:54.799
<v Speaker 4>You know, I don't think that he has to talk

0:02:54.840 --> 0:02:58.000
<v Speaker 4>about get personal in this debate at all, because he's

0:02:58.000 --> 0:03:00.280
<v Speaker 4>going to have so many good things to talk about

0:03:00.320 --> 0:03:02.160
<v Speaker 4>in contrast with Joe Biden's policies.

0:03:02.360 --> 0:03:04.200
<v Speaker 2>Meet the Press and This Week can be heard every

0:03:04.280 --> 0:03:06.960
<v Speaker 2>Sunday on Bloomberg Radio, and you can hear the CNN

0:03:06.960 --> 0:03:10.520
<v Speaker 2>debate on Bloomberg Radio or watch it on Bloomberg Television.

0:03:10.560 --> 0:03:13.679
<v Speaker 2>Our coverage starts Thursday night with a special edition of

0:03:13.720 --> 0:03:16.840
<v Speaker 2>Bloomberg Balance of Power with Joe Matthew and Kaylee lines

0:03:17.120 --> 0:03:19.200
<v Speaker 2>starts at eight pm Wall Street Time.

0:03:19.680 --> 0:03:22.400
<v Speaker 1>Well Nathan Now to the elections in France. Marine Le

0:03:22.560 --> 0:03:26.160
<v Speaker 1>Penn's far right National Rally has made further gains ahead

0:03:26.160 --> 0:03:29.720
<v Speaker 1>of the first round of France's snap legislative election on Sunday.

0:03:30.000 --> 0:03:33.400
<v Speaker 1>According to Bloomberg's poll of polls, the party has increased

0:03:33.400 --> 0:03:35.960
<v Speaker 1>its lead by zero point three points to thirty four

0:03:35.960 --> 0:03:39.680
<v Speaker 1>point two percent. President Emanuel Macron dissolved the lower House

0:03:39.680 --> 0:03:42.560
<v Speaker 1>of Parliament earlier this month and called the snap legislative

0:03:42.640 --> 0:03:46.520
<v Speaker 1>vote after his group was trounced in European Parliament elections.

0:03:46.720 --> 0:03:48.560
<v Speaker 2>It's Suir now Karen to the latest on the war

0:03:48.600 --> 0:03:51.440
<v Speaker 2>in the Middle East. Israeli Prime Minister Benjamin Netanyah who

0:03:51.440 --> 0:03:54.480
<v Speaker 2>says intense fighting in Gaza will come to an end shortly.

0:03:54.640 --> 0:03:57.320
<v Speaker 2>In his first major interview with an Israeli media outlet

0:03:57.400 --> 0:04:01.320
<v Speaker 2>since the October seventh Hamas attacks Netanya who also directly

0:04:01.440 --> 0:04:04.400
<v Speaker 2>rejected the prospect of a ceasefire deal with Hamas that

0:04:04.480 --> 0:04:07.160
<v Speaker 2>could eventually lead to the end of the war. Bloomberg

0:04:07.240 --> 0:04:08.640
<v Speaker 2>zed Baxter has the latest.

0:04:09.160 --> 0:04:09.520
<v Speaker 5>PM.

0:04:09.520 --> 0:04:12.880
<v Speaker 7>Benjamin NETANYAHUO is now saying that intense operations in Gaza

0:04:12.920 --> 0:04:16.680
<v Speaker 7>will end very soon. He says the next step will

0:04:16.680 --> 0:04:19.200
<v Speaker 7>be to get some troops into the North to counter

0:04:19.279 --> 0:04:23.120
<v Speaker 7>has Belah aggressions and to bring some students back from

0:04:23.120 --> 0:04:25.719
<v Speaker 7>where they were evacuated. He says he wants to do

0:04:25.760 --> 0:04:30.000
<v Speaker 7>it by diplomatic means, but if not, he'll go another way. Meanwhile,

0:04:30.000 --> 0:04:33.479
<v Speaker 7>he's sending Foreign Minister Job Gallant to the US to

0:04:33.520 --> 0:04:37.120
<v Speaker 7>talk about additional aid, which he says has been slowed down.

0:04:37.520 --> 0:04:42.360
<v Speaker 7>The US has consistently denied the allegation. Aed Baxter, Bloomberg

0:04:42.440 --> 0:04:43.360
<v Speaker 7>Radio all Right.

0:04:43.320 --> 0:04:46.640
<v Speaker 1>Ed Thanks and Company News. Federal prosecutors have, according to

0:04:46.720 --> 0:04:50.560
<v Speaker 1>Reuter's recommended Moeing face criminal charges, and shares are down

0:04:50.560 --> 0:04:53.039
<v Speaker 1>two thirds of a percent. This morning, we get details

0:04:53.080 --> 0:04:54.440
<v Speaker 1>from Bloomberg's dun Chrisner.

0:04:55.000 --> 0:04:58.800
<v Speaker 8>The charges would stem from violating a deferred prosecution agreement.

0:04:59.000 --> 0:05:01.239
<v Speaker 8>It was put in place in twenty twenty one after

0:05:01.320 --> 0:05:04.960
<v Speaker 8>two seven thirty seven MAX fatal crashes. In May, the

0:05:05.000 --> 0:05:09.479
<v Speaker 8>DOJ determined Boeing breach the agreement. The company disagreed. Now,

0:05:09.600 --> 0:05:13.560
<v Speaker 8>senior Justice Department officials have received a recommendation to bring

0:05:13.680 --> 0:05:17.000
<v Speaker 8>criminal charges. The question is will they and if so,

0:05:17.320 --> 0:05:20.680
<v Speaker 8>what type they could extend beyond the original twenty twenty

0:05:20.720 --> 0:05:25.800
<v Speaker 8>one fraud conspiracy charge. Alternatively, instead of prosecuting Boeing, the

0:05:25.880 --> 0:05:28.640
<v Speaker 8>DOJ could extend the twenty twenty one settlement by a

0:05:28.720 --> 0:05:32.760
<v Speaker 8>year or propose new stricter terms. In New York, I'm

0:05:32.800 --> 0:05:34.440
<v Speaker 8>Doug Prisoner, Bloomberg Radio.

0:05:34.279 --> 0:05:35.080
<v Speaker 3>All right ed Thanks.

0:05:35.360 --> 0:05:38.160
<v Speaker 2>Apple has been hit with a formal warning from European

0:05:38.240 --> 0:05:42.880
<v Speaker 2>Union antitrust enforcers for allegedly stifling competition on its app store.

0:05:43.120 --> 0:05:46.200
<v Speaker 2>The European Commission says Apple must allow app developers to

0:05:46.200 --> 0:05:48.800
<v Speaker 2>steer users to cheaper deals and offers.

0:05:48.440 --> 0:05:49.760
<v Speaker 3>Outside of the app store.

0:05:50.120 --> 0:05:52.680
<v Speaker 2>The new order comes under the EU's Digital Markets Act,

0:05:52.680 --> 0:05:54.720
<v Speaker 2>which lays out a raft of dues and don'ts for

0:05:54.800 --> 0:05:56.719
<v Speaker 2>some of the world's largest tech platforms.

0:05:56.880 --> 0:05:57.320
<v Speaker 3>Monday is.

0:05:57.480 --> 0:06:00.680
<v Speaker 2>Today's announcement is a preliminary step that follows similar move

0:06:00.720 --> 0:06:03.279
<v Speaker 2>the EU made against Apple in March, which came with

0:06:03.320 --> 0:06:05.320
<v Speaker 2>a one point nine billion dollar penalty.

0:06:05.839 --> 0:06:09.120
<v Speaker 1>Well Nathan Bloomberg News has learned by Dance and Broadcom

0:06:09.200 --> 0:06:12.599
<v Speaker 1>or in talks to develop an advanced artificial intelligence ship.

0:06:12.760 --> 0:06:15.840
<v Speaker 1>Sources say the US chip designer and Beijing based by

0:06:16.000 --> 0:06:19.640
<v Speaker 1>Dance have talked about a five nanometer purpose built ship.

0:06:19.960 --> 0:06:22.400
<v Speaker 1>No deal has yet been reached between the two companies,

0:06:22.400 --> 0:06:26.920
<v Speaker 1>and Broadcom already supplies an older generation processor for use

0:06:26.960 --> 0:06:28.599
<v Speaker 1>in Buytedance's data centers.

0:06:28.880 --> 0:06:31.880
<v Speaker 2>Finally, Karen, there were several arrests on the eighteenth Green

0:06:31.920 --> 0:06:36.599
<v Speaker 2>at the PGA's Travelers Championship yesterday. Six climate protesters stormed

0:06:36.640 --> 0:06:39.359
<v Speaker 2>the green with smoke bombs as the leaders lined up

0:06:39.360 --> 0:06:42.159
<v Speaker 2>to putt Each of those protesters was charged with first

0:06:42.160 --> 0:06:45.559
<v Speaker 2>degree mischief, first degree criminal trespass, and breach of peace.

0:06:45.920 --> 0:06:48.719
<v Speaker 2>The world's top golfer, Scottie Scheffler, says he was trying

0:06:48.720 --> 0:06:49.640
<v Speaker 2>not to lose focus.

0:06:49.920 --> 0:06:52.040
<v Speaker 9>When something like that happens, you don't really know what's happening,

0:06:52.080 --> 0:06:53.600
<v Speaker 9>so it can kind of rattle you a little bit,

0:06:53.640 --> 0:06:55.960
<v Speaker 9>just because there's people running around the green, and there's

0:06:55.960 --> 0:06:57.800
<v Speaker 9>police officers run around the green, and you don't know

0:06:58.279 --> 0:07:00.880
<v Speaker 9>if they're peaceful, you don't know what they're You have

0:07:00.920 --> 0:07:02.240
<v Speaker 9>no idea what's going on, and so it can be

0:07:02.240 --> 0:07:04.440
<v Speaker 9>a bit stressful. But fortunately I was out there and

0:07:04.480 --> 0:07:06.400
<v Speaker 9>you could kind of see me and actually talking to

0:07:06.400 --> 0:07:07.840
<v Speaker 9>each other for a Miney and Tom talking to each

0:07:07.839 --> 0:07:09.880
<v Speaker 9>other for a minute, just basically trying to calm down.

0:07:09.960 --> 0:07:12.200
<v Speaker 2>Man Scottie Scheffler did calm down. He shrugged off the

0:07:12.200 --> 0:07:15.400
<v Speaker 2>protest to win the Travelers Championship on the first whole

0:07:15.440 --> 0:07:19.000
<v Speaker 2>of sudden Death, narrowly edging out Tom Kim. Scheffler closed

0:07:19.000 --> 0:07:21.480
<v Speaker 2>the weekend at twenty two under two, secure his sixth

0:07:21.520 --> 0:07:23.400
<v Speaker 2>win of the year, the most in one season on

0:07:23.440 --> 0:07:26.760
<v Speaker 2>the PGA Tour since Tiger Woods's six victories in two

0:07:26.800 --> 0:07:30.280
<v Speaker 2>thousand and nine. It's also the most before July since

0:07:30.480 --> 0:07:36.280
<v Speaker 2>Arnold Palmer won six in nineteen sixty two.

0:07:36.880 --> 0:07:38.160
<v Speaker 1>And it's time now for a look at some of

0:07:38.200 --> 0:07:40.440
<v Speaker 1>the other stories making news in New York and around

0:07:40.480 --> 0:07:42.920
<v Speaker 1>the world. For that, we're joined by Bloomberg's Michael Barr.

0:07:43.040 --> 0:07:44.760
<v Speaker 5>Michael, good Morning, Good morning, Karen.

0:07:44.800 --> 0:07:48.360
<v Speaker 10>Officials Warren beachgoers beware that there is a high risk

0:07:48.400 --> 0:07:51.560
<v Speaker 10>of rip currents along the eastern end Gulf Coast, with

0:07:51.680 --> 0:07:55.840
<v Speaker 10>several drownings reported from Florida to New York. Beaches in

0:07:55.920 --> 0:07:58.360
<v Speaker 10>Long Island and New Jersey all the way down to

0:07:58.400 --> 0:08:01.760
<v Speaker 10>North Carolina and Florida at high risk. The height and

0:08:01.800 --> 0:08:04.880
<v Speaker 10>alerts coming as authorities called off the search for two

0:08:04.960 --> 0:08:08.720
<v Speaker 10>teenage boys ages sixteen and seventeen, who went missing near

0:08:08.840 --> 0:08:13.080
<v Speaker 10>jacob Riest Park in Queens on Friday. NYPD Deputy Commissioner

0:08:13.160 --> 0:08:14.160
<v Speaker 10>Kas Dauntry.

0:08:14.080 --> 0:08:17.240
<v Speaker 5>Away was extremely high and it went on top of

0:08:17.320 --> 0:08:17.640
<v Speaker 5>them and.

0:08:17.600 --> 0:08:18.280
<v Speaker 11>Sucked them over.

0:08:19.080 --> 0:08:23.240
<v Speaker 10>Witnesses say the teens were swept away shortly after lifeguards

0:08:23.280 --> 0:08:27.800
<v Speaker 10>went off duty. The NYPD is in high alert following

0:08:27.840 --> 0:08:29.160
<v Speaker 10>the latest attacks.

0:08:29.200 --> 0:08:29.640
<v Speaker 3>Abroad.

0:08:30.240 --> 0:08:34.199
<v Speaker 10>Russian authorities say more than fifteen police officers and several civilians,

0:08:34.440 --> 0:08:38.200
<v Speaker 10>including an Orthodox priest, have been killed by armed militants

0:08:38.280 --> 0:08:41.640
<v Speaker 10>in the southern Republic of Dakistan. They say the guvernment

0:08:41.720 --> 0:08:45.560
<v Speaker 10>opened fire on two Orthodox churches, a synagogue, and a

0:08:45.600 --> 0:08:50.320
<v Speaker 10>police post in two cities Sunday. Russia's National Anti Terrorists

0:08:50.320 --> 0:08:54.320
<v Speaker 10>Committee described the attacks in the predominantly Muslim region with

0:08:54.440 --> 0:08:59.000
<v Speaker 10>a history of armed militancy, as terrorist acts. Police say

0:08:59.040 --> 0:09:02.000
<v Speaker 10>they have killed at lee six of the attackers. Today,

0:09:02.120 --> 0:09:05.720
<v Speaker 10>Tuesday and Wednesday are declared days of morning in the region.

0:09:06.080 --> 0:09:09.120
<v Speaker 10>The death toll has climbed a fort and Friday is random.

0:09:09.160 --> 0:09:12.400
<v Speaker 10>Mass shooting at the grocery store in Arkansas, State police

0:09:12.440 --> 0:09:14.679
<v Speaker 10>say a twenty three year old who was a nurse

0:09:14.920 --> 0:09:18.440
<v Speaker 10>died Sunday. Kelly Weams was rendering aid when she was

0:09:18.480 --> 0:09:22.880
<v Speaker 10>fatally shot in Fordyce. Her mother, Helen Browning, she left God.

0:09:23.400 --> 0:09:26.920
<v Speaker 1>She loved her daughter, she loved her family, and.

0:09:29.040 --> 0:09:31.480
<v Speaker 10>Police said the suspect who was arrested was armed with

0:09:31.559 --> 0:09:35.160
<v Speaker 10>a twelve gage shot gun, epistol and extra shot gun rounds.

0:09:35.600 --> 0:09:38.000
<v Speaker 10>Her three days day, nut fired. The other three victims

0:09:38.080 --> 0:09:41.040
<v Speaker 10>killed eighty one year old Ellen Shrum, sixty two year

0:09:41.040 --> 0:09:44.280
<v Speaker 10>old Shirley Taylor, and fifty year old to Roy Sturgis.

0:09:45.000 --> 0:09:47.600
<v Speaker 10>Rochester Police say six people were shot at a city

0:09:47.640 --> 0:09:50.480
<v Speaker 10>park early Sunday morning, and one officer was injured responding

0:09:50.480 --> 0:09:53.520
<v Speaker 10>to the scene. Officers responded to the sound of gun

0:09:53.520 --> 0:09:56.439
<v Speaker 10>shots at MLK Park after the park had closed for

0:09:56.480 --> 0:09:59.840
<v Speaker 10>the night. Rochester Police Chief David Smith says an officer

0:10:00.160 --> 0:10:02.200
<v Speaker 10>injured in a fight with someone at the scene.

0:10:02.360 --> 0:10:05.600
<v Speaker 12>While continuing to work to disperse the crowd and provide

0:10:05.640 --> 0:10:09.360
<v Speaker 12>treatment to the victims, thirty eight year old Joshua Sanchez

0:10:09.800 --> 0:10:13.200
<v Speaker 12>actively blocked the officers and then began to fight with officers.

0:10:13.280 --> 0:10:15.440
<v Speaker 10>Chief Smith says it looks like they were all part

0:10:15.480 --> 0:10:18.280
<v Speaker 10>of the same gathering global news twenty four hours a

0:10:18.360 --> 0:10:20.800
<v Speaker 10>day and whenever you wanted with the Bloomberg News. Now,

0:10:20.880 --> 0:10:22.720
<v Speaker 10>I'm Michael Barr This is Bloomberg Carrot.

0:10:22.880 --> 0:10:29.440
<v Speaker 1>All right, Michael Barr, thank you time now for the

0:10:29.440 --> 0:10:32.520
<v Speaker 1>Bloomberg Sports Update with John Stanshawer, John Good.

0:10:32.400 --> 0:10:33.480
<v Speaker 5>Mornings, Good morning Carrot.

0:10:33.520 --> 0:10:36.360
<v Speaker 13>Mets and the Yankee started many two game Subway series

0:10:36.400 --> 0:10:38.720
<v Speaker 13>tomorrow night City Field. It's the Mets that are hot,

0:10:38.760 --> 0:10:40.520
<v Speaker 13>the Yanks or not. Mets have won nine at the

0:10:40.559 --> 0:10:43.480
<v Speaker 13>last eleven. Yanks have lost six of eight. They've lost

0:10:43.520 --> 0:10:46.679
<v Speaker 13>their last three series before which they had only dropped

0:10:46.679 --> 0:10:49.120
<v Speaker 13>three series all season. At the Stadium Atlanta one three

0:10:49.160 --> 0:10:51.559
<v Speaker 13>that one of the Yankees have acquired J. D. Davis

0:10:51.840 --> 0:10:53.359
<v Speaker 13>in a trade with Oakland.

0:10:53.000 --> 0:10:53.960
<v Speaker 3>So they added X.

0:10:54.120 --> 0:10:56.480
<v Speaker 13>Met the Mets at really last night had an ex

0:10:56.559 --> 0:10:59.240
<v Speaker 13>Yankee on the man and Luis Savarina was outstanding seven

0:10:59.280 --> 0:11:02.520
<v Speaker 13>scoreless inning, only three hit, struck out ten. Mets beat

0:11:02.559 --> 0:11:04.840
<v Speaker 13>the Cups five to two. Edmund Diaz came on to

0:11:04.840 --> 0:11:07.199
<v Speaker 13>pitch the ninth in in the umpires as they always do,

0:11:07.640 --> 0:11:09.880
<v Speaker 13>looked at his hand and the ump later said it

0:11:10.000 --> 0:11:14.320
<v Speaker 13>was extremely sticky. Diaz got tossed. He may be looking

0:11:14.320 --> 0:11:17.160
<v Speaker 13>at a ten game suspension. Red Sox won seven to four.

0:11:17.160 --> 0:11:19.640
<v Speaker 13>In Cincinnati, they won seven of eight. Nashville's won two

0:11:19.679 --> 0:11:22.800
<v Speaker 13>to one of Colorado. The Orioles got swept in Houston,

0:11:22.880 --> 0:11:26.120
<v Speaker 13>the Giants got swept by the Cardinals, and Omaha Tennessee

0:11:26.240 --> 0:11:28.320
<v Speaker 13>beat Texas A and M's the College World Series we

0:11:28.360 --> 0:11:31.040
<v Speaker 13>decided tonight as will the Stanley Cup.

0:11:31.080 --> 0:11:32.600
<v Speaker 3>Can Edmonton do something not.

0:11:32.640 --> 0:11:36.120
<v Speaker 13>Done in eighty two years win the final series after

0:11:36.280 --> 0:11:37.679
<v Speaker 13>losing the first three games.

0:11:37.720 --> 0:11:39.800
<v Speaker 5>Here's the Oilers, Leon Dreisidel.

0:11:40.120 --> 0:11:42.360
<v Speaker 11>It's been a hell of a story so far. But

0:11:43.240 --> 0:11:44.760
<v Speaker 11>at the end of the day, we play to win,

0:11:45.000 --> 0:11:47.960
<v Speaker 11>right and this is going to be the hardest game

0:11:48.000 --> 0:11:51.040
<v Speaker 11>for us, and they're gonna come ot hard, They're gonna

0:11:51.080 --> 0:11:53.600
<v Speaker 11>play at home. We have to bring our game again.

0:11:53.800 --> 0:11:55.040
<v Speaker 3>It would be the Oilers first Cups.

0:11:55.040 --> 0:11:58.160
<v Speaker 13>It's nineteen ninety, the first for any Canadian teams. It's

0:11:58.160 --> 0:12:01.120
<v Speaker 13>Montreal in ninety three. Florida with an now fourth chance

0:12:01.200 --> 0:12:04.280
<v Speaker 13>to win the Cup for the first time. Wnbah Shaba

0:12:04.360 --> 0:12:07.000
<v Speaker 13>came from fifteen down beat Indiana by a point in

0:12:07.080 --> 0:12:10.959
<v Speaker 13>the Battle of the Rookies. Gitlin Clark bested by Angel Reiche.

0:12:10.960 --> 0:12:13.040
<v Speaker 13>She had twenty five points sixteen to be bounds. Tennis

0:12:13.040 --> 0:12:16.000
<v Speaker 13>and England Tommy Paul won the Queen's Club Wimbledon tum up,

0:12:16.040 --> 0:12:18.480
<v Speaker 13>he becomes the highest ranked American player.

0:12:18.800 --> 0:12:20.840
<v Speaker 3>John stashe. We're Bloomberg Sports down.

0:12:20.679 --> 0:12:27.680
<v Speaker 14>Dam Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:12:27.800 --> 0:12:30.680
<v Speaker 14>and around the world on Bloomberg dot Com and the

0:12:30.720 --> 0:12:31.920
<v Speaker 14>Bloomberg Business app.

0:12:32.160 --> 0:12:35.840
<v Speaker 3>This is Bloomberg Daybreak. Good morning of Nathan Hager.

0:12:35.920 --> 0:12:38.200
<v Speaker 2>We are heading into the final trading week of the

0:12:38.240 --> 0:12:40.559
<v Speaker 2>first half of twenty twenty four with some of the

0:12:40.640 --> 0:12:42.760
<v Speaker 2>key catalysts stacked right at the end of it. Got

0:12:42.760 --> 0:12:45.560
<v Speaker 2>a presidential debate Thursday night, the Fed's preferred gage of

0:12:45.559 --> 0:12:48.080
<v Speaker 2>inflation on Friday, and that could inform the Central Bank's

0:12:48.160 --> 0:12:51.240
<v Speaker 2>next policy decision near the start of the second half

0:12:51.360 --> 0:12:54.400
<v Speaker 2>of twenty twenty four. Joining us for more, Bloomberg Radio

0:12:54.440 --> 0:12:57.600
<v Speaker 2>and television anchor Kritty Gupta, Critty, good Morning.

0:12:57.720 --> 0:13:00.079
<v Speaker 3>On top of all those catalysts, we have political risk.

0:13:00.080 --> 0:13:03.200
<v Speaker 2>In Europe, the French election starting this weekend, the UK

0:13:03.360 --> 0:13:05.680
<v Speaker 2>election the week after that. Is there a read through

0:13:05.880 --> 0:13:08.600
<v Speaker 2>from Europe's political volatility to what we could see in

0:13:08.600 --> 0:13:09.439
<v Speaker 2>the US market.

0:13:09.880 --> 0:13:12.520
<v Speaker 15>There is absolutely a read through, And I think the

0:13:12.559 --> 0:13:14.240
<v Speaker 15>mistake that a lot of folks make is a thing.

0:13:14.240 --> 0:13:16.400
<v Speaker 15>It's on the other side of the Atlantic. We don't care.

0:13:16.800 --> 0:13:18.640
<v Speaker 15>Let me explain to you why we do. There is

0:13:18.679 --> 0:13:22.080
<v Speaker 15>a read through specifically into the treasury market, into the dollar,

0:13:22.960 --> 0:13:25.240
<v Speaker 15>arguably into the stock market as well. Now, I think

0:13:25.280 --> 0:13:27.520
<v Speaker 15>a lot of eyes this week, in particular from a

0:13:27.520 --> 0:13:30.520
<v Speaker 15>political perspective, is going to be that highly anticipated debate

0:13:30.600 --> 0:13:33.800
<v Speaker 15>from President Biden and former President Trump as well, talking

0:13:33.880 --> 0:13:37.560
<v Speaker 15>about tariffs, talking about immigration, talking about things like how

0:13:37.640 --> 0:13:41.120
<v Speaker 15>they may be tackling this looming deficit. The first thing

0:13:41.200 --> 0:13:43.800
<v Speaker 15>on the new president's agenda will of course be the

0:13:43.880 --> 0:13:46.920
<v Speaker 15>budget ceiling. It comes up January twenty twenty five. That

0:13:47.080 --> 0:13:49.600
<v Speaker 15>being said, the read through from Europe is really important

0:13:49.640 --> 0:13:53.199
<v Speaker 15>because it's coming off of not just political turmoil in France,

0:13:53.400 --> 0:13:55.559
<v Speaker 15>simply this kind of rise of the far right, this

0:13:55.840 --> 0:13:57.720
<v Speaker 15>rise of the far left as well. That's going to

0:13:57.760 --> 0:14:01.839
<v Speaker 15>create a bigger deficit in France, but also creates a

0:14:01.880 --> 0:14:04.319
<v Speaker 15>lot of pressure on the bond market in Europe as well. Now,

0:14:04.360 --> 0:14:07.920
<v Speaker 15>the reason this matters to an American audience simply because

0:14:07.960 --> 0:14:10.480
<v Speaker 15>when we've seen iterations of this in the past. Take

0:14:10.559 --> 0:14:13.160
<v Speaker 15>a look at the twenty eleven twenty thirteen through twenty

0:14:13.200 --> 0:14:16.080
<v Speaker 15>thirteen sovereign debt crisis, in Europe. Take a look at

0:14:16.320 --> 0:14:19.720
<v Speaker 15>the mini budget coming out of Liz Trust as recently

0:14:19.760 --> 0:14:22.080
<v Speaker 15>as a couple of years ago, you do start to

0:14:22.120 --> 0:14:24.640
<v Speaker 15>see a read through into the US bond market. So

0:14:25.200 --> 0:14:28.280
<v Speaker 15>read through that contagion effect is what we're expecting to see.

0:14:28.520 --> 0:14:32.040
<v Speaker 2>You expect bond investors to position in some way around

0:14:32.080 --> 0:14:35.920
<v Speaker 2>the presidential debate. Does that have the potential to be

0:14:35.960 --> 0:14:39.440
<v Speaker 2>a market mover depending on the kinds of policy discussion

0:14:39.480 --> 0:14:40.880
<v Speaker 2>that we see on Thursday night.

0:14:41.280 --> 0:14:44.480
<v Speaker 15>You know, debates traditionally aren't tradable, and yet this morning

0:14:44.520 --> 0:14:46.120
<v Speaker 15>you hear a lot of folks out of Europe saying,

0:14:46.120 --> 0:14:47.640
<v Speaker 15>you know, I'm going to stay up and watch it.

0:14:47.640 --> 0:14:50.600
<v Speaker 15>It's about two am London time. I'll certainly be staying

0:14:50.640 --> 0:14:52.920
<v Speaker 15>up and watching it as well. It's important to keep

0:14:52.920 --> 0:14:55.000
<v Speaker 15>in mind that the tear off policy is important not

0:14:55.080 --> 0:14:58.480
<v Speaker 15>just because it's between the US and China, but between

0:14:58.800 --> 0:15:02.760
<v Speaker 15>US and China. The creates ASML, for example, based out

0:15:02.800 --> 0:15:04.880
<v Speaker 15>in the Netherlands, is stuck in the middle of the

0:15:04.920 --> 0:15:09.200
<v Speaker 15>sanctions talk EU terrors being put on Chinese evs being

0:15:09.200 --> 0:15:12.160
<v Speaker 15>accused of jumping on the market. That's really important as well.

0:15:12.400 --> 0:15:15.320
<v Speaker 15>When that all factors into what kind of lead the

0:15:15.360 --> 0:15:18.200
<v Speaker 15>next president, whether it's Biden or Trump. The takeaways that

0:15:18.200 --> 0:15:20.400
<v Speaker 15>they're going to be tough on China. Just how tough

0:15:20.880 --> 0:15:22.160
<v Speaker 15>is the real question.

0:15:22.240 --> 0:15:24.640
<v Speaker 2>And that toughness on China plays into a lot of

0:15:24.640 --> 0:15:28.400
<v Speaker 2>what we're seeing in the tech sector this rally around

0:15:28.680 --> 0:15:30.640
<v Speaker 2>the AI play. But we did have a drop in

0:15:30.720 --> 0:15:32.760
<v Speaker 2>tech shares at the end of last week and that

0:15:32.800 --> 0:15:35.640
<v Speaker 2>could feel debate and think about whether this tech rally's

0:15:35.680 --> 0:15:36.600
<v Speaker 2>topped out.

0:15:36.880 --> 0:15:40.400
<v Speaker 15>It does, and it also feels the debate excues me

0:15:40.440 --> 0:15:43.040
<v Speaker 15>of where the next AI leg is coming from. Remember,

0:15:43.040 --> 0:15:46.320
<v Speaker 15>this is something that China is also really investing on

0:15:46.360 --> 0:15:48.920
<v Speaker 15>when it comes to things like electrification as well applying

0:15:48.960 --> 0:15:51.800
<v Speaker 15>AI their own trip technology as well, I believe over

0:15:51.800 --> 0:15:54.200
<v Speaker 15>the weekends of headlines coming as well on Byteedance and

0:15:54.280 --> 0:15:58.080
<v Speaker 15>Broadcom working with TSMC when it comes to creating their

0:15:58.080 --> 0:16:00.640
<v Speaker 15>own trips. So there is really the story of what

0:16:00.840 --> 0:16:03.520
<v Speaker 15>kind of China read through is on Taiwan as well,

0:16:03.520 --> 0:16:04.240
<v Speaker 15>and that's all going to.

0:16:04.240 --> 0:16:05.000
<v Speaker 7>Come up in the debate.

0:16:05.160 --> 0:16:08.200
<v Speaker 2>This is Bloomberg Daybreak Today, your morning brief on the

0:16:08.240 --> 0:16:11.680
<v Speaker 2>stories making news from Wall Street to Washington and beyond.

0:16:11.920 --> 0:16:14.720
<v Speaker 1>Look for us on your podcast feed at six am.

0:16:14.760 --> 0:16:18.440
<v Speaker 1>Eastern each morning on Apple, Spotify, and anywhere else you

0:16:18.520 --> 0:16:19.680
<v Speaker 1>get your podcasts.

0:16:19.800 --> 0:16:22.480
<v Speaker 2>You can also listen live each morning starting at five

0:16:22.560 --> 0:16:25.120
<v Speaker 2>am Wall Street Time on Bloomberg eleven three to zero

0:16:25.200 --> 0:16:28.080
<v Speaker 2>in New York, Bloomberg ninety nine to one in Washington,

0:16:28.120 --> 0:16:31.000
<v Speaker 2>Bloomberg one oh six to one in Boston, and Bloomberg

0:16:31.080 --> 0:16:32.760
<v Speaker 2>ninety sixty in San Francisco.

0:16:33.160 --> 0:16:36.280
<v Speaker 1>Our flagship New York station is also available on your

0:16:36.360 --> 0:16:41.800
<v Speaker 1>Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus.

0:16:41.800 --> 0:16:45.240
<v Speaker 2>Listen coast to coast on the Bloomberg Business app, SERRIUSXM,

0:16:45.360 --> 0:16:48.960
<v Speaker 2>the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan

0:16:48.960 --> 0:16:50.560
<v Speaker 2>Hager and I'm Karen Moscow.

0:16:50.760 --> 0:16:53.520
<v Speaker 1>Join us again tomorrow morning for all the news you

0:16:53.640 --> 0:17:05.960
<v Speaker 1>need to start your day right here on Bloomberg Daybreak