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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning, I'm Nathan Hager and.

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Speaker 1: I'm Karen Moscow. Here are the stories we're following today.

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Speaker 3: Karen, we begin with nine three of the Republican National Convention,

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Speaker 3: where Donald Trump's vice presidential nominee J. D. Vance was

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Speaker 3: introduced to the nation.

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Speaker 4: I'm overwhelmed with gratitude to say I officially accept your

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Speaker 4: nomination to be vice president of the United States of America.

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Speaker 3: And in his acceptance speech, the Ohio Senator drew on

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Speaker 3: his rural roots, blaming President Biden and past administrations for

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Speaker 3: leaving working class voters behind.

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Speaker 4: Thanks to these policies that Biden and other out of

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Speaker 4: touch politicians in Washington gave us, our country was flooded

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Speaker 4: with cheap Chinese goods, with cheap foreign labor, and in

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Speaker 4: the decades to come, deadly Chinese finanol. Joe Biden screwed up,

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Speaker 4: and my community paid the price.

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Speaker 3: And then JD. Vance went after the business community.

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Speaker 4: We're done ladies and gentlemen catering to Wall Street. We'll

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Speaker 4: commit to the workingman. We're done importing foreign labor. We're

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Speaker 4: going to fight for American citizens and their good jobs

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Speaker 4: and they're good wages.

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Speaker 3: The vice presidential nominee JD. Vance added the GOP is

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Speaker 3: done sacrificing supply chains to global trade and is committed

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Speaker 3: to manufacturing products in the US. The Biden campaign responded

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Speaker 3: to Vance's speech by calling him unprepared, unqualified, and willing

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Speaker 3: to do anything to meet Donald Trump's demands.

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Speaker 1: Well, Nathan, Donald Trump will speak tonight and formally accept

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Speaker 1: the Republican presidential nomination for a third time. It'll be

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Speaker 1: his first speech since the assassination attempt last weekend. The

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Speaker 1: Trump campaign says the former president changed his address after

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Speaker 1: the attempt on his life to make it more unifying.

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Speaker 1: Follow Bloomberg for a live coverage of former President Donald

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Speaker 1: Trump's acceptance speech on the final night their Republican National

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Speaker 1: Convention on Bloomberg's Balance of Power with Joe Matthew and

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Speaker 1: k Lies. Complete team coverage begins at eight pm Wall

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Speaker 1: Street Time on Bloomberg Radio and television.

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Speaker 3: On the Democratic side, Karen President Biden continues to face

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Speaker 3: questions about his ability to serve. In an interview with Beet,

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Speaker 3: the President said he is willing to relinquish power to

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Speaker 3: Vice President Kamala Harris. In a second term under one scenario, some.

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Speaker 5: Medical condition that emerged.

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Speaker 3: If somebody doctors came to me said you got this problem.

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Speaker 6: That problem now.

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Speaker 3: Those comments from President Biden came before the White House

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Speaker 3: announced he's tested positive for COVID. The White House says

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Speaker 3: his symptoms are mild, and the President is isolating at

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Speaker 3: his home in Delaware.

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Speaker 1: Will the President deals with COVID Nathan. He's also facing

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Speaker 1: intensifying pressure within his own party to step aside from

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Speaker 1: the race. Prominent House Democrat Adam Schiff of California released

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Speaker 1: a statement of the Los Angeles Times that Biden should

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Speaker 1: let another candidate run over the weekend, Schiff was caught

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Speaker 1: at a fundraiser saying the President needed to pass the torch.

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Speaker 7: I do not think he is the.

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Speaker 5: Best person who should go into the selection. I think

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Speaker 5: if he has our comedy, I think we lose.

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Speaker 1: Congressman Adam Schiff says he's concerned Biden's candidacy could affect

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Speaker 1: other Democrats down ballot.

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Speaker 3: And Karen Congressman. Shift is a close ally to former

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Speaker 3: House Speaker Nancy Pelosi, and according to CNN, Pelosi has

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Speaker 3: told the president privately the polling shows he cannot defeat

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Speaker 3: Donald Trump and could destroy Democrats' chances of winning the

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Speaker 3: House in November. ABC News is reporting Senate Majority leader

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Speaker 3: Chuck Schumer told the President last week it would be

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Speaker 3: best if he ended his reelection bid Well Nathan.

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Speaker 1: Senate leader Schumer is also calling on New Jersey Senator

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Speaker 1: Bob Menendez to resign after his conviction on bribery and

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Speaker 1: foreign agent charges. NBC News has reported that Menendez told

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Speaker 1: allies he intends to resign, but the senator told CBS

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Speaker 1: New York that he has not resigned nor has he

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Speaker 1: spoken to quote so called allies. A Dray convicted Menendez

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Speaker 1: on sixteen counts this week after a two month trial.

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Speaker 3: Senate Minarti leader Mitch McConnell is calling for new leadership

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Speaker 3: Karen at the sequet Its service comes after the assassination

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Speaker 3: attempt on former President Trump. Bloomberg's Amy Morris has the

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Speaker 3: details on that from Washington.

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Speaker 8: Senator Mitch McConnell posted on x that the shooting was,

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Speaker 8: in his words, a grave attack on American democracy and

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Speaker 8: that new leadership at the Secret Service would be an

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Speaker 8: important step. House Committee on Oversight and Accountability Chairman James

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Speaker 8: Comer has subpoenaed Secret Service Director Kimberly Cheedle to appear

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Speaker 8: at a hearing on Monday. Lawmakers say they'll hold a

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Speaker 8: bipartisan probe focused on the Secret Service, and President Biden

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Speaker 8: ordered an independent probe. The Homelands Inspector General also opened

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Speaker 8: its own investigation in Washington. Amy Morris Bloomberg Radio.

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Speaker 1: All right, Amy, thank you if you want to turn to

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Speaker 1: markets now and NASDAK futures are higher, with shipmaker Taiwan

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Speaker 1: Semiconductor restoring sentiment in tech. If follow is the worst

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Speaker 1: day for the Nasdaq one hundred since twenty twenty two.

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Speaker 1: Traders were spooked over concerns about tidy US restrictions on

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Speaker 1: chip sales to China. But TSMC reported earning said beat

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Speaker 1: and less estimates and raise projections for full year revenue

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Speaker 1: growth and a show of confidence in the artificial intelligence boom.

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Speaker 3: As for the broader economy, Karen traders are getting bullish

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Speaker 3: about a September rate cut after comments from Fed Governor

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Speaker 3: Christopher Waller. He told an audience in Kansas that the

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Speaker 3: US can tame inflation without dipping into a recession.

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Speaker 9: I believe the current data are consistent with achieving of

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Speaker 9: soft landing, and I'll be looking for data over the

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Speaker 9: next couple of months to buttress that view. So while

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Speaker 9: I don't believe we've reached our final destination, I do

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Speaker 9: believe we are getting closer to the time when a

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Speaker 9: cut in the policy rate is warranted.

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Speaker 3: FED Governor Chris Waller's comments echo those of other policymakers

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Speaker 3: who are broadly optimistic about inflation but waiting for more

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Speaker 3: positive data in the coming weeks.

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Speaker 1: All rights, they're also in focus over season aathan with

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Speaker 1: a decision from the European Central Bank this morning. Bloomberg's

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Speaker 1: Lizzie Burdens as a cut today is unlikely, but ECB

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Speaker 1: President Christine Leguard could hint at a move in September.

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Speaker 10: Markets and economists expect the European Central Bank to keep

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Speaker 10: interest rates on hold at its July meeting today, though

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Speaker 10: traders will listen closely for clues as to whether a

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Speaker 10: September move is coming. Even the hawkish end of the

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Speaker 10: Governing Council has said market pricing for two more moves

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Speaker 10: this year looks reasonable, but President Christine Legard is unlikely

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Speaker 10: to want to box herself in on timing, so we'll

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Speaker 10: probably reiterate that the Central Bank is data dependent. A

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Speaker 10: key question is whether she reintroduces the ECB's easing bias

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Speaker 10: in Frankfurt. Lizzie Bird and Bloomberg Radio.

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Speaker 3: All right, Lizzie, thank you. Finally make no bones about

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Speaker 3: this one. Citadel founder Ken Griffin paid Southeby's forty four

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Speaker 3: point six million dollars for a near complete Stegosaurus fossil

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Speaker 3: at auction, one hundred and fifty million year old dinosaur

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Speaker 3: nicknamed Apex. Griffin plans to put it on display the museum.

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Speaker 3: His bid marks a record sum for a fossil sold

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Speaker 3: at auction, even going to the Jurassic era.

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Speaker 1: Time now for a look at some of the other

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Speaker 1: stories making news in New York and around the world.

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Speaker 1: For that, we're joined by Bloomberg's Michael Barr Michael, Good morning.

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Speaker 7: Good morning, Karen. For the second straight week, communities and

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Speaker 7: upstate New York have been slammed by severe storms and tornadoes.

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Speaker 7: Dozens of buildings have been destroyed and nine tornadoes confirmed

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Speaker 7: near Syracuse and Rochester in Rome, New York Governor Kathy

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Speaker 7: Okel said tens of thousands of customers in the affected

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Speaker 7: areas are still without power.

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Speaker 11: This is an urgent situation. When the heat is as

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Speaker 11: hot as it is right now, people need their power

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Speaker 11: back on, So we are focused intensely on making sure

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Speaker 11: that happens as soon as humanly possible.

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Speaker 7: At least one person dined in the storms. Wall Street

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Speaker 7: Journal reporter Evan Gerskovich has appeared in court in Russia

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Speaker 7: for the second hearing in his trial on espionage charges. Gerskevich,

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Speaker 7: his employer, and the US government vehemently deny the charge

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Speaker 7: against him. Kriskevich was accused by the Russian Prosecutor General's

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Speaker 7: office of gathering secret information on orders from the CIA

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Speaker 7: about a plant that produces and repairs tanks and other

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Speaker 7: military equipment. The journalist was detained while on a reporting

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Speaker 7: trip in March of twenty twenty three. The US Navy

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Speaker 7: has exonerated more than two hundred and fifty black sailors

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Speaker 7: found to be unjustly punished in nineteen forty four following

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Speaker 7: a California port explosion that killed hundreds of service members.

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Speaker 7: The blast killed three hundred twenty sailors and civilians, nearly

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Speaker 7: seventy five percent of whom were black, and injured another

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Speaker 7: four hundred personnel Navy Secretary Carlos del Toro.

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Speaker 9: This decision clears their names, restores their honor, and acknowledges

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Speaker 9: the courage they displayed in the face of immense danger.

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Speaker 7: The punishments kept them from receiving honorable discharges. Fifty sailors

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Speaker 7: who held their demands for safety and training were tried

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Speaker 7: as a group on charges of conspiracy to commit mutiny.

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Speaker 7: They were convicted and sent to prison. Researchers studying tens

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Speaker 7: of thousands of patients found that people who have irregular

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Speaker 7: sleep patterns, say five hours of sleep one night, ten

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Speaker 7: hours of sleep the next night, have a more than

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Speaker 7: thirty percent higher risk of developing type two diabetes. Doctor

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Speaker 7: Cina Keance is with Brigham and Women's Hospital in Boston.

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Speaker 4: Our finis have the potential to improve diabetes prevention on

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Speaker 4: multiple levels.

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Speaker 1: Clinically, they might inform better patient care and treatment plans.

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Speaker 7: Doctor Kennercy says. The study was on patients in the

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Speaker 7: United Kingdom. Global News twenty four hours a day and

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Speaker 7: whenever you want it with Bloomberg News. Now, Michael Barr,

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Speaker 7: this is Bloomberg.

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Speaker 1: Heret all right, Michael Barr, thank you. Time now to

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Speaker 1: the Bloomberg Sports Update with John stash Hour. John, good morning, Good.

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Speaker 6: Morning care and it's a difficult, cloudy bristday in Scotland.

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Speaker 6: The players are bundled up for the start of the

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Speaker 6: Open Championship in fifty second edition, tenth time. It's being

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Speaker 6: held at Royal Trooon and early on Justin Thomas, Matt Wallace,

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Speaker 6: Young Hans Song share the lead three under part is

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Speaker 6: the last major of the year. Vice at the Champeau

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Speaker 6: has so far finished sixth at the Masters, second at

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Speaker 6: the PGA, and last month he won the US Open.

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Speaker 6: The Champeau was just teed off. Rory McElroy is about

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Speaker 6: to and later this morning. World number one Scottie Scheffler

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Speaker 6: excited to be playing Lenke Skulf.

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Speaker 12: I just feel like you have to be more creative here,

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Speaker 12: and you know, I love that part of it. I

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Speaker 12: feel like when I do come over here, this is

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Speaker 12: really kind of how golf was intended to be played.

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Speaker 12: I feel like there's a lot more opportunity for shot

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Speaker 12: making and being creative around the greens.

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Speaker 6: Jeff has already won six tournaments this year. He's trying

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Speaker 6: to be just the fourth since nineteen eighty to win

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Speaker 6: the Masters, and they Open the same year. He's the

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Speaker 6: first is Tiger Woods in twenty thirteen to be the

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Speaker 6: betting favorite going into all four majors. London the next

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Speaker 6: up for the US Olympic basketball team. They'll play exhibition

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Speaker 6: games there on Saturday and Monday, then a week from

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Speaker 6: Sunday it's the opener in Paris against Serbia, who the

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Speaker 6: US just be easily one oh five to seventy nine.

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Speaker 6: Steph Curry scored twenty four points. Caitlin Clark has often

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Speaker 6: been compared to Curry, and last night she did something

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Speaker 6: no WNBA player has ever done before. Clark had nineteen assists.

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Speaker 6: She just scored twenty four points. Although Indiana loss to

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Speaker 6: the last place Dallas, Pat Williams has passed away at

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Speaker 6: eighty four. Longtime NBA exec with Philadelphia and then Orlando,

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Speaker 6: represented the Magic three times when they won the draft lottery,

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Speaker 6: landing them Shaquille O'Neal, Penny Hardaway, and Dwight Howard. Williams

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Speaker 6: also wrote over one hundred books, ran fifty eight marathons,

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Speaker 6: and he and his wife had nineteen children, fourteen of

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Speaker 6: them adopted from foreign countries. John Stasherwick Bloomberg Sports Karenia.

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Speaker 5: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 5: and around the world on Bloomberg dot Com and the

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Speaker 5: Bloomberg Business app. This is Bloomberg Daybreak. Good Morning on

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Speaker 5: Nathan Hager. It is a tale of two campaigns.

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Speaker 3: As the Republican National Convention heads to its conclusion tonight,

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Speaker 3: Donald Trump is set to accept his party's nomination for

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Speaker 3: a third time after surviving an assassination attempt and cementing

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Speaker 3: his populist hold on the Republican Party, while President Biden

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Speaker 3: finds himself sidelined by COVID and under fast growing pressure

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Speaker 3: to bow out of the race. Joining us for more

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Speaker 3: Bloomberg Breaking News, Managing Editor Derek Wallbank, Derek, good morning.

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Speaker 3: Let's start with the convention. What are your takeaways from

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Speaker 3: what we saw from JD. Vance last night, his acceptance

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Speaker 3: speech as running mate and this populist message that you

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Speaker 3: know he's solidifying for former President Trump.

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Speaker 13: Well, Nathan, I think that JD. Vance is somebody who

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Speaker 13: has been a staunch ally of Donald Trump. Remember, you know,

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Speaker 13: he's the sort of person who was running in a

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Speaker 13: very crowded primary field when he wanted to be a

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Speaker 13: senator from Ohio. Trump picked him to be endorsed. He

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Speaker 13: goes on, gets that nomination, gets the win, gets into

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Speaker 13: the Senate, becomes one of Donald Trump's most fervent supporters,

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Speaker 13: and eventually now rewarded with the VP nomination. But Vance

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Speaker 13: hasn't been in the political scene for all that long.

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Speaker 13: So this was a chance for JD. Vance to introduce

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Speaker 13: himself to the public writ large, and he went with

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Speaker 13: a very biography heavy introduction. You know, a guy who

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Speaker 13: first came to prominence from having written his own biography.

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Speaker 13: He'll bili elogy, you know, talking about his experiences and

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Speaker 13: you know that you know the sort of appellation, you know,

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Speaker 13: how did everybody lose, the lose the working person, you know,

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Speaker 13: things of that nature, and he sort of tried to

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Speaker 13: tie that into Trump's appeal. One of the things I

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Speaker 13: saw from Vance and from other speakers. Marco Rubio was

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Speaker 13: one who really did this was they were trying to

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Speaker 13: sort of verbally set up a permission structure for people

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Speaker 13: who may not have liked Trump before but to come

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Speaker 13: on board with this. And you actually saw this a

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Speaker 13: little bit from Nicki Hayley the other day as well.

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Speaker 13: Right set up a pathway for people who have not

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Speaker 13: been there for Trump, who are sitting there don't really

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Speaker 13: like the idea of Biden either, have serious reservations about

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Speaker 13: the president right now to vote for the former president instead.

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Speaker 13: So that was kind of rhetorically where he was going.

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Speaker 13: I think, you know, the most memorable parts of it though,

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Speaker 13: was when he was talking about his take no Prisoner's mamma,

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Speaker 13: his grandmother who helped raise him, and then when he

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Speaker 13: spotlighted his own mother, who struggled with substance abuse and

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Speaker 13: has been clean now on about ten years. Those were very,

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Speaker 13: very popular moments at the convention among the attendees there.

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Speaker 13: We'll see how it all resonates among the general public

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Speaker 13: when we get some post convention polls. But this was JD.

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Speaker 13: Vance's moment to make a name for himself.

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Speaker 3: And Donald Trump's moment comes tonight. I mean, this really

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Speaker 3: could be another one of those so called moments, his

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Speaker 3: first speech after getting great by a bullet last weekend.

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Speaker 13: Derek. Yeah. Now, Trump has made appearances, you know, each

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Speaker 13: night of the convention, but this is the first time

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Speaker 13: that we're going to get to hear from him. This

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Speaker 13: is somebody who, look, you know, whether you like him

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Speaker 13: or you don't like him. As somebody who has a

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Speaker 13: reputation well earned for showmanship, former television host, you should

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Speaker 13: expect the stage management of this to be nailed down,

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Speaker 13: right And again, as I say, Nathan, you know Trump,

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Speaker 13: the nation has had four years of Donald Trump as president.

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Speaker 13: If you like him or if you don't like him,

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Speaker 13: you know what you're getting, right, Like, there's there's nobody

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Speaker 13: in the United States who don't know who Donald J.

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Speaker 13: Trump is. But this is also a guy who, for

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Speaker 13: the first time really in his electoral history, finds himself

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Speaker 13: as a general election favorite.

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Speaker 7: Right.

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Speaker 13: He never was against Hillary Clinton. She was favored the

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Speaker 13: entire way according to poles and analysts and things like that.

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Speaker 13: Trump now is is in a situation where the betting

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Speaker 13: markets are saying that he's likely to win. You're seeing

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Speaker 13: movements and all of that, and so this is a

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Speaker 13: different position for him. He's also come off of a

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Speaker 13: you know, a time when he was literally shot in

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Speaker 13: the air giving a speech. You know, we're in uncharted

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Speaker 13: moments here for Donald Trump. I think there's gonna be

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Speaker 13: a lot of interest in how he handles this.

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