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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Karen, we begin with politics and a major speech from

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Speaker 2: President Biden. Three days after he ended his reelection campaign,

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Speaker 2: the President gave an eleven minute address from the Oval

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Speaker 2: Office to explain his decision.

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Speaker 3: In recent weeks has become clear to me. I need

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Speaker 3: to unite my party in this critical endeavor. I believe

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Speaker 3: I reckon as president, my leadership in the world, my

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Speaker 3: vision for America's future. Paul Merit it a second term,

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Speaker 3: but nothing, nothing can come in the way of saving

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Speaker 3: our democracy.

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Speaker 2: President Biden says he revers the office, but ultimately he

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Speaker 2: needed to bring his party together and put aside personal ambition.

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Speaker 2: But the president says he still has a lot to

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Speaker 2: accomplish over the rest of his time.

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Speaker 3: I'm going to call for Supreme Court reform because this

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Speaker 3: is critical to our democracy. Supreme Court reform.

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Speaker 2: President Biden also said he will keep working to lower

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Speaker 2: health care costs, combat climate change and gun violence, and

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Speaker 2: bring the war in Gaza to an end, and he

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Speaker 2: praised the Democrats new presumptive nominee Kamala Harris as a

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Speaker 2: quote incredible partner to me and a leader for our country.

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Speaker 1: Well, Nathan, we have plenty of reaction to President Biden's

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Speaker 1: primetime address. Bloomberg political contributor Genie she hans Zeno says

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Speaker 1: it's evident that Biden does not bring the energy Harris

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Speaker 1: does to the Democrats.

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Speaker 4: We've been listening for the last seventy two hours to

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Speaker 4: Harris on the campaign trail with these huge, you know,

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Speaker 4: just big rallies where she's getting a lot of energy

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Speaker 4: and it's very sort of moving. And then you contrast

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Speaker 4: that with Joe Biden, and you're reminded why so many

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Speaker 4: Democrats felt that he wasn't up to the task.

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Speaker 1: Bloomberg political contributor Genie she han Zeno believes Biden will

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Speaker 1: help Democrats and some down ballid races, but will take

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Speaker 1: a back seat role on the campaign trail.

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Speaker 2: Karen Harris is about to receive some big name political support.

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Speaker 2: According to NBC News, Former President Barack Obama plans to

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Speaker 2: endorse Harris soon. The report says the two have been

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Speaker 2: in close touch since Harris announced her candidacy on Sunday,

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Speaker 2: and Obama has given Harris his full support privately.

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Speaker 5: Well Nathan.

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Speaker 1: Hours before President Biden's speech, former President Donald Trump went

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Speaker 1: after his new opponent at a campaign rally in Charlotte,

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Speaker 1: North Carolina.

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Speaker 6: Now we have a new victim to defeat, Lion Kamala Harris,

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Speaker 6: lion l Yi, an apostasy, the most incompetent and far

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Speaker 6: left vice president and American history.

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Speaker 1: The former president called Harris the quote borders are, and

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Speaker 1: he attacked her record as a prosecutor, saying she's soft

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Speaker 1: on crime. Trump also said his position on abortion is

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Speaker 1: eight points higher in the polls than Harris's, though he

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Speaker 1: didn't say where he got that number. Democrats are sees

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Speaker 1: on reproductive rights is a key issue in the campaign.

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Speaker 7: Well Karen.

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Speaker 2: Both campaigns are going to be meeting with Benjamin Netanyahoo,

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Speaker 2: the Israeli Prime Minister, will meet with Biden and Harris

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Speaker 2: today at the White House and with Trump in Florida tomorrow.

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Speaker 2: In an hour long speech to Congress yesterday, Netanyaho tried

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Speaker 2: to shore up US support for Israel's war with Hummas

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Speaker 2: and Bloomberg's Amy Morris reports from Washington.

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Speaker 5: Nettayah, who said Iran regards Israel as an arm of

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Speaker 5: its primary enemy, the United States.

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Speaker 8: Our enemies are your enemies.

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Speaker 6: Our fight is your fight, and our victory will be

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Speaker 6: your victory.

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Speaker 5: Nettanjak, who also said that he envisions a new alliance

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Speaker 5: throughout the Middle East, including any countries at peace with Israel.

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Speaker 9: The new alliance signed vision would be a natural extension

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Speaker 9: of the groundbreaking Abraham Accords.

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Speaker 8: Those accords saw peace forged.

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Speaker 7: Between Israel and four Arab countries, and they were supported

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Speaker 7: by Republicans and Democrats alike. I think we should call

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Speaker 7: it the Abraham Alliance.

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Speaker 5: Natangnak, who also assailed anti Israel protesters for siding with

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Speaker 5: a Moss in Washington, Amy Moore as Bloomberg Radio, all.

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Speaker 1: Right, Amy, thank you well as Nettan Yell, who spoke.

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Speaker 1: Police deployed tear gas and took demonstrators into custody as

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Speaker 1: thousands converged on Washington to condemn Netton. Yeah, who's visit.

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Speaker 1: Outside DC's Union Station, protesters removed American flags and hoisted

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Speaker 1: Palestinian ones in their place.

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Speaker 2: Turning to the markets, now, Karen the Wall Street led

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Speaker 2: AI sell off has gone Global. Stocks in Japan fell

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Speaker 2: more than three percent, while shares in Europe are down

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Speaker 2: more than one percent. For more, We're joined by Bloomberg's

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Speaker 2: John Tucker.

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Speaker 10: John Nathan Ai fever appears to be cooling. Yesterday saw

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Speaker 10: a one trillion dollar round in the Nasdaq one hundred.

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Speaker 10: The selloff triggered by a middle of the road earnings

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Speaker 10: report from alphabet At stocks thank more than five percent.

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Speaker 10: Investors getting impatient they want to see returns on the

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Speaker 10: investments in artificial intelligence. Still, Shelby McFadden at Motley Full

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Speaker 10: Asset Management suggests the drop could argue we in favor

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Speaker 10: of dip buying.

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Speaker 11: And I think that we're just a little bit too

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Speaker 11: early in earning season, even in tech earnings for the

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Speaker 11: sort of mass of investors to say, you know what

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Speaker 11: we're done here?

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Speaker 10: Massive rotation from the tech winners, it is smaller companies

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Speaker 10: appears to be holding the Russell two thousand and op

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Speaker 10: half a percent this week. Well, the next big Q

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Speaker 10: four investors may come with the next round of tech results. Apple, Microsoft, Amazon,

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Speaker 10: and Meta Platforms are all due to report results next week.

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Speaker 10: John Tucker, Bloomberg Radio, All.

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Speaker 1: Right, John, thanks well. Several stocks are on the move

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Speaker 1: this morning. Shears of IBM are up four percent. The

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Speaker 1: company reported a jump in bookings for its artificial intelligence

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Speaker 1: business as customers work to implement the latest technology.

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Speaker 2: Insures of Chipotle are up nearly four percent. Karen, the

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Speaker 2: burrito chain, reported earnings and comparable sales that topped analyst estimates.

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Speaker 1: Chres A four down more than thirteen percent. The automaker's

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Speaker 1: second quarter profit fell short of estimates. Ford said vehicle

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Speaker 1: quality problems led to a surge and warranty costs.

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Speaker 2: Not the only automaking giant going in reverse, Karen. Shares

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Speaker 2: of Stalantis are down nearly six percent. The maker of jeep, Ram,

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Speaker 2: Dodge and Chrysler says it's considering price cuts to cope

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Speaker 2: with a massive sales drop in the first half of

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Speaker 2: the year.

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Speaker 1: And Nathan, it is not sweet music this morning for

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Speaker 1: investors of the world's biggest record label, Safe Science. Shares

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Speaker 1: of Universal Music Group, which represents artists including Taylor Swift

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Speaker 1: and Drink are plunging about twenty six percent. Universal subscription

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Speaker 1: and streaming revenue numbers missed estimates. Time now for a

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Speaker 1: look at some of the other stories making news in

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Speaker 1: New York and around the world. For that, we're joined

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Speaker 1: by Bloomberg's Michael barr Michael.

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Speaker 9: Good Morning, Good morning Karen. A police officer was shot

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Speaker 9: several times in Radway, New Jersey. Eyewitnesses say the shooting

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Speaker 9: took place near Broad Street and West Hazelwood Avenue last night.

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Speaker 9: According to the Mayor of Rahway, officers were executing a

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Speaker 9: search warrant when two suspects tried to run from the

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Speaker 9: One of the suspects fired a gun at the officers.

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Speaker 9: According to the New Jersey State Policeman's Benevolent Association, the

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Speaker 9: officer was taken to Robert Wood Johnson University Hospital in

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Speaker 9: New Brunswick. The PBA asked people to please keep him

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Speaker 9: and all the officers involved in the Robbie incident in

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Speaker 9: their prayers. There's new information in the FBI probe into

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Speaker 9: the attempt on the life of former President Donald Trump.

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Speaker 9: The details were discovered at a hearing of the House

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Speaker 9: Judiciary Committee. The FBI says that the same day that

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Speaker 9: he registered to attend the Trump rally would be assassin

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Speaker 9: Thomas Crooks googled the distance from which Lee Harvey Oswald

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Speaker 9: fired at John F. Kennedy, and on that same day,

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Speaker 9: a week before the shooting, Crook spent about twenty minutes

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Speaker 9: at the Butler PA Events site. FBI Director Christopher Ray

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Speaker 9: also says it appears as if the drone was up

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Speaker 9: in the air for about eleven minutes roughly two hundred

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Speaker 9: yards away from the venue around.

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Speaker 12: Three point fifty pm four o'clock in that window on

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Speaker 12: the day of the shooting, that the shooter was flying

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Speaker 12: the drone around the area.

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Speaker 9: The number of COVID cases is spiking across the country,

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Speaker 9: sees as almost forty states are reporting high COVID activity levels.

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Speaker 9: Emergency room visits are at their highest for coronavirus since February.

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Speaker 9: Editor at large at KFF Health News, doctor Celine Gounder

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Speaker 9: says more people are getting sick because they are traveling more.

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Speaker 11: COVID is still one of the worst viral respiratory infections,

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Speaker 11: and infants and kids may have little to no immunity

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Speaker 11: to COVID. They also have smaller airways, so when they

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Speaker 11: get a viral respiratory infection, which causes airway inflammation and

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Speaker 11: mucus plugging, they're more likely to get into trouble.

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Speaker 9: Doctor Slaine Gounder spoke to CBS Global to News twenty

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Speaker 9: four hours a day and whenever you wanted with Bloomberg

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Speaker 9: News Now, I'm Michael Barrn. This is Bloomberg Cara.

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Speaker 1: All right, Michael barr thank you. Time now for the

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

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Speaker 1: Good morning Karen.

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Speaker 13: Last two months, the Mets have been a far better

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Speaker 13: team than the Yankees that it came through in the

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Speaker 13: four Subway Series games last month in the City Field,

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Speaker 13: Mets scored twenty one runs in two games. They won

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Speaker 13: a three to two nail biter Tuesday in the Bronx,

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Speaker 13: and then erupted for a dozen more runs last night,

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Speaker 13: once again using the long ball.

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Speaker 14: First pitch, swinging a high fly ball well hit left center.

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Speaker 14: This one, my coach judge us back at it is

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Speaker 14: God beyond the Mets Bull Pettitt left center field. Hellong

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Speaker 14: hal run by Francisco Landor, his second hal run of

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Speaker 14: the game is twenty first of the year three Rod

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Speaker 14: Halber WCBS.

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Speaker 13: Lindor's second was the mets fifth homer. They won twelve

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Speaker 13: to three. At the end of May, Mets were twenty

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Speaker 13: four and thirty three. Since then, the I've gone twenty

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Speaker 13: nine and fifteen. Also June first, Yankees were flying high

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Speaker 13: at forty and nineteen under five hundred sins. Since June twelfth,

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Speaker 13: the Yankee record is eleven and twenty two. Their only

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Speaker 13: game in that vine Baltimore. The Orioles have been slumping.

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Speaker 13: Lost in Miami six to three. Red Sox lost at

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Speaker 13: Colorado twenty to seven. Rockies tile club record for must

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Speaker 13: runs in the game. Padres had twenty hits at a

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Speaker 13: twelve to three rout of the Nationals. The Giants with

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Speaker 13: a six run eighth innings Salvas won for the Dodgers

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Speaker 13: eight to three. The Knicks ever awarded coach Tom Thibodeaux

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Speaker 13: with a three year extension. He's now signed through twenty

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Speaker 13: twenty eight. He's gotten into the playoffs in three of

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Speaker 13: his four seasons. The legal battle apparently on between the

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Speaker 13: NBA and TNT, who claims it had the right to

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Speaker 13: match the deal the NBA signed with Amazon. Kevin Durant

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Speaker 13: missed the five tune up games with the US Olympic

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Speaker 13: basketball team due to a calf injury. He hopes to

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Speaker 13: play Sunday against Serbia. The opening ceremonies in Paris are tomorrow,

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Speaker 13: and the two US flag bearers voted on by the

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Speaker 13: athletes Lebron James and Coco Goff, who had twenty will

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Speaker 13: be the youngest of it. IOC announced that twenty thirty

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Speaker 13: four Winter Games will be in Salt Lake City. John Stanshedward,

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Speaker 13: Bloomberg Sports, Jaron Nathan.

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Speaker 7: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 7: and around the world on Bloomberg dot Com and the

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Speaker 7: Bloomberg Business app. This is Bloomberg Daybreak Danger.

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Speaker 2: President Biden says he is putting aside personal ambition in

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Speaker 2: a bid to save democracy.

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Speaker 3: I've decided the best way forward is the past the

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Speaker 3: torch for a new generation. That's the best way to

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Speaker 3: unine our nation.

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Speaker 2: President used a primetime Oval Office address to explain his

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Speaker 2: decision to end his reelection bid and what he hopes

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Speaker 2: to get done for the rest of his term. For more,

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Speaker 2: we are joined by Tina Fordham, founder and geopolitical strategist

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Speaker 2: at Fordham Global Insight. Tina, good morning, your reaction to

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Speaker 2: the President's speech.

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Speaker 8: It's the end of an era. Joe Biden has served

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Speaker 8: the country for for many decades and he's passed the torch.

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Speaker 8: Some would say he took his time about it, but

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Speaker 8: I think We have seen very clearly in the momentum

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Speaker 8: behind Kamala Harris that there's a huge appetite for energy

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Speaker 8: and for new voices in this race.

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Speaker 2: Does that momentum last? Do you think there's only four

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Speaker 2: months till the election?

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Speaker 8: Well, and this is where being based in Europe is

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Speaker 8: maybe a valuable perspective. You say only four months. We've

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Speaker 8: just had two snap elections in just a few weeks

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Speaker 8: time called in both the UK and France. I wonder

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Speaker 8: if more compressed time frame doesn't actually help Harris.

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Speaker 2: Why does a compressed timeframe mean for President Biden? He

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Speaker 2: put out a pretty significant laundry list of things he

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Speaker 2: would still like to accomplish over the next six months

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Speaker 2: of his term, including Supreme quarter form.

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Speaker 8: Absolutely well, it's definitely a wish list, that's the right

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Speaker 8: thing to call it. Because of course Congress is going

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Speaker 8: into recess shortly, and historically not a lot of legislation

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Speaker 8: gets passed in the period before a US election, So

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Speaker 8: it makes sense that Biden will want to find his

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Speaker 8: legacy on leaving some kind of a stamp. But the

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Speaker 8: pace of the legislative process and the focus on this election,

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Speaker 8: which is extraordinary, no matter how you slice, it means

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Speaker 8: that he probably won't be able to pull off quite

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Speaker 8: as much as he would like.

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Speaker 2: We're going to see the first glimpse of what the

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Speaker 2: rest of a Biden term is going to look like

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Speaker 2: later on today when the President and Vice President meet

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Speaker 2: with Israeli Prime Minister Benjamin Netanyahu after his pretty fiery

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Speaker 2: defense of the war in Gaza. What are you expecting

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Speaker 2: from that encounter today?

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Speaker 8: Well, there isn't a lot of love lost between Biden

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Speaker 8: and to Yahoo, and you know, arguably the White House's

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Speaker 8: full throat of support for Israel following October seventh has

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Speaker 8: generated pretty significant negative blowback for the Biden administration. I

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Speaker 8: also think that the timing of Netayahu's visit was somewhat

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Speaker 8: unfortunate in that, you know, we've now pivoted to this

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Speaker 8: very intense preoccupation with what happens next in US elections.

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Speaker 8: I don't think that Biden will waiver in his commitment

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Speaker 8: to supporting Israel, but the dynamics have changed so dramatically.

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Speaker 8: From Harris, it would be wise for her to keep

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Speaker 8: her powder dry, I think, and kind of let Biden

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Speaker 8: own this relationship for now. Whilst saying the kind of

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Speaker 8: requisite things about commitment to Israel as an ally and

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Speaker 8: a partner.

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Speaker 2: I'm curious as well, in our last minute to get

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Speaker 2: your take on the pivot that we're seeing from former

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Speaker 2: President Trump as he focuses now on his new opponent,

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Speaker 2: Vice President Harris, calling her lion Kamala Borders are even

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Speaker 2: talking about his position on abortion polling higher than hers.

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Speaker 2: What do you make of the message from the president?

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Speaker 8: I think it will come back to bite him. This

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Speaker 8: is what I would say, And you know, as someone

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Speaker 8: who's been working in financial markets for twenty five years

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Speaker 8: and you know follows the discourse. I also think that

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Speaker 8: investors have focused so much on the positives of a

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Speaker 8: possible second Trump administration that they may not remember that

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Speaker 8: things like reproductive rights matter to a lot of Americans,

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Speaker 8: not just women, and not just Democrats. And so I'm

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Speaker 8: not sure that Trump's strategy, with his you know, incredible nicknames,

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Speaker 8: which have been so effective in marginalizing and even humiliating opponents,

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Speaker 8: are going to dampen the energy that we're seeing from

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Speaker 8: Harris right now, and they might backfire. I worry this

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Speaker 8: gets very ugly in terms of the campaign rhetoric very fast.

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