WEBVTT - Trump Rally Shrouded by Incendiary Rhetoric; Israel Strikes Avoid Iranian Crude

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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

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<v Speaker 1>following today.

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<v Speaker 2>Karen, we began with the latest from the campaign trail

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<v Speaker 2>for Donald Trump.

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<v Speaker 3>Last night.

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<v Speaker 2>It ran through the heart of Manhattan.

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<v Speaker 4>An incredible arena, Madison Square Garden.

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<v Speaker 3>Incredible.

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<v Speaker 2>The former president capped off a nearly six hour rally

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<v Speaker 2>inside the fabled arena and called on his supporters to

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<v Speaker 2>defeat Kamala Harris.

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<v Speaker 5>With you a.

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<v Speaker 2>Vote in this election, I will end inflation.

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<v Speaker 6>I will stop the invasion of criminals coming into our country.

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<v Speaker 2>Donald Trump was joined by about two dozen speakers, including

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<v Speaker 2>Elon Musk, who made a promise of his own to

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<v Speaker 2>Trump transition co chair Howard Ludnik, how.

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<v Speaker 4>Much do you think we can rip out of this.

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<v Speaker 2>Wasted six point five trillion Harris Biden budget?

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<v Speaker 7>Well, I think we can do at least two trillion.

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<v Speaker 3>Yeah.

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<v Speaker 2>And the rally included some controversial comments as well, like

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<v Speaker 2>this from comedian Tony Hinchcliff.

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<v Speaker 8>Like, I don't know if you guys know this, but

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<v Speaker 8>there's literally a floating island of garbage in the middle

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<v Speaker 8>of the ocean, right now, yeah, I think it's called

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<v Speaker 8>Puerto Rico.

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<v Speaker 9>Okay, all right now.

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<v Speaker 2>That drew a backlash from Republican lawmakers in Florida and

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<v Speaker 2>Puerto Rican celebrities, including rapper Bad Bunny and Jennifer Lopez,

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<v Speaker 2>who is of Puerto Rican descent. They showed support for

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<v Speaker 2>Kamala Harris following that comment.

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<v Speaker 6>Well, Nathan, Vice President Harris is seizing on the anti

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<v Speaker 6>Puerto Rico rhetoric from the Trump rally.

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<v Speaker 7>He abandoned the island, tried to block aid after back

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<v Speaker 7>to back devastating hurricanes, and offered nothing more than paper

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<v Speaker 7>towels and insults.

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<v Speaker 6>Kamala Harris announced a plan to boosh the island territory's

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<v Speaker 6>economy and power grid in a post on X Earlier,

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<v Speaker 6>Vice President hel to rally ever own in Philadelphia.

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<v Speaker 7>We have an opportunity before us to turn the page

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<v Speaker 7>on the fear and the divisiveness that have characterized our

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<v Speaker 7>politics for a decade because of Donald Trump.

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<v Speaker 6>Vice President Harris plans to deliver what her campaign is

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<v Speaker 6>calling her closing argument speech tomorrow. She'll appear at the

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<v Speaker 6>Ellipse outside the White House, the same spot where Donald

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<v Speaker 6>Trump rally supporters before the attack on the US Capitol

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<v Speaker 6>on January sixth, twenty twenty one.

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<v Speaker 2>Well Karen oil is tumbling this morning. It is down

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<v Speaker 2>nearly five percent in the international market. The drop comes

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<v Speaker 2>after Israeli strikes against targets in Iran avoided the OPEC

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<v Speaker 2>members crewed facilities. Bloomberg's Paul Wallace reports that is fueling

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<v Speaker 2>optimism hostilities in the Middle East, maybe easing.

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<v Speaker 10>A lot of regional officials in the Middle East and

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<v Speaker 10>probably beyond in the West as well, are thinking that

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<v Speaker 10>this seems to be the end of it for now,

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<v Speaker 10>at least based on Iran's reactions so far, it's been

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<v Speaker 10>a pretty muted reaction. The country is not vowing to

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<v Speaker 10>respond to Israel's strikes. Yes, four of its soldiers were killed,

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<v Speaker 10>but the damage didn't seem to be massive, and of

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<v Speaker 10>course Israel seemed to have left Iran's oil and nuclear

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<v Speaker 10>sites untouched. So I think a lot of people looking

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<v Speaker 10>this and saying okay, Iran seems happy to draw a

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<v Speaker 10>line under this and move on.

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<v Speaker 2>Bloomberg's Paul Walla says the Israeli strike avoided oil, nuclear

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<v Speaker 2>and civilian infrastructure in Iran, and that was in line

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<v Speaker 2>with a request from the Biden administration.

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<v Speaker 6>Well, turning to the markets now, Nathan, earnings will be

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<v Speaker 6>front and center, and this week's focus will shift to

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<v Speaker 6>big tech. We get a preview from Bloomberg's Charlie Pillar.

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<v Speaker 9>Tuesday, it's Google Parent Alphabet. Wednesday, it's Metal Platforms and Microsoft,

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<v Speaker 9>and then Apple and Amazon after the bell on Thursday.

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<v Speaker 9>Kate Moore is head of thematic strategy at black Rock.

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<v Speaker 9>She says, it's all about the outlook.

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<v Speaker 11>The big thing I'm watching though, is not the results

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<v Speaker 11>from the Third War, but I'm moniagcally focused on the

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<v Speaker 11>guidance companies are giving for the fourth quarter and for

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<v Speaker 11>twenty twenty five.

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<v Speaker 9>Also this week, Advanced micro Devices, Caterpillar, x on Mobile, Ford, McDonald's,

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<v Speaker 9>and Ubs in New York. Charlie Pellet Bloomberg Radio.

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<v Speaker 2>Charlie thanks. Another company we're watching, of course, is Boeing.

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<v Speaker 2>The planemaker plans to launch a capital raise as early

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<v Speaker 2>as today. Let's get the latest from Bloomberg's John Tucker. So, John,

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<v Speaker 2>how much are we talking here?

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<v Speaker 12>The company sent to raise more than fifteen billion dollars.

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<v Speaker 12>Nathan Boeing's advisors have been lining up the potential investors.

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<v Speaker 12>The transaction likely to include shares as well as debt

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<v Speaker 12>that can be converted into equity. Now, to put this

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<v Speaker 12>in perspective, a fifteen billion dollars share sale would be

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<v Speaker 12>the largest equity offering since twenty twenty. Boeing needs money

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<v Speaker 12>to keep its investment great credit rating and to fund

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<v Speaker 12>any eventual turnaround from the crippling strike. The company's on

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<v Speaker 12>pace to use around four billion dollars in cash during

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<v Speaker 12>the fourth quarter well. The planemaker expects to continue burning

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<v Speaker 12>cash through the first half of next year as well.

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<v Speaker 12>The Bowing factory workers voted last week to reject the

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<v Speaker 12>company's latest contract offer, which included a wage increase of

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<v Speaker 12>thirty five percent spread over four years. In New York,

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<v Speaker 12>I'm John Tucker, Bloomberg Radio.

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<v Speaker 6>All right, John, thank you now to the latest on

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<v Speaker 6>the health scare at McDonald's. The fast food giant says

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<v Speaker 6>quarter pounders will return to menus at all restaurants this

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<v Speaker 6>week after ruling out beef patties as a source of

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<v Speaker 6>a multi state ecali outbreak that has sickened to dozens

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<v Speaker 6>and left one person dead.

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<v Speaker 8>The E.

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<v Speaker 6>Coli infections appear to stem from these slivered onions served

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<v Speaker 6>on top of the hamburger. The company had stopped selling

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<v Speaker 6>the burgers in about twenty percent of its more than

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<v Speaker 6>thirteen thousand US restaurants. They will return without onions.

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<v Speaker 2>Eli Lelly expects to start selling its highly popular weight

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<v Speaker 2>loss drug in Hong Kong as early as the end

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<v Speaker 2>of this year. Lilly's SHOT's already been approved in mainland

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<v Speaker 2>China for weight loss and diabetes, but it remains unclear

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<v Speaker 2>when it plans to launch the product in the country.

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<v Speaker 2>His rival Nova Nordisk is already selling its diabetes drug

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<v Speaker 2>in honk in mainland China, but its weight loss version

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<v Speaker 2>has not been made available yet.

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<v Speaker 6>And Nathan the Yen has we can do a three

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<v Speaker 6>month low. After Japan's ruling coalition failed to win a

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<v Speaker 6>majority in parliament, the country now faces a period of

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<v Speaker 6>political instability as its two main blocks race to form

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<v Speaker 6>a government. Bloomberg's Paul Jackson in Tokyo says this outcome

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<v Speaker 6>was a risk the Prime Minister took in calling this election.

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<v Speaker 13>This was a big gamble to call an early election,

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<v Speaker 13>hoping that a kind of new leader popularity bump might

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<v Speaker 13>give him a mandate to lead the party over the

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<v Speaker 13>coming years. Instead, what he's ended up with is the

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<v Speaker 13>worst result for the ruling coalition since two thousand and nine.

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<v Speaker 13>So now he's going to pick up the pieces.

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<v Speaker 6>And Bloomberg's Paul Jackson says Prime Minister is Shiba promised

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<v Speaker 6>to take responsibility for restoring political stability following the loss.

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<v Speaker 6>According to Japan's constitution, a special session of Parliament must

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<v Speaker 6>be held within thirty days of a general election to

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<v Speaker 6>choose a prime minute. Honest time now for a look

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<v Speaker 6>at some of the other stories making news in New

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<v Speaker 6>York and around the world. For that, we're joined by

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<v Speaker 6>Bloomberg's Michael Barr Michael, Good Morning, Good Morning Karen.

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<v Speaker 5>Sentencing in Washington, d C. Today for a Hollywood actor

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<v Speaker 5>who pleaded guilty to being part of the January sixth

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<v Speaker 5>breach of the US Capitol. Jay Johnston, pleaded guilty to

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<v Speaker 5>a felony account of civil disorder back in January. Johnston

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<v Speaker 5>is arguably the most famous, having appeared in Bob's Burger's

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<v Speaker 5>and arrested development Prosecutors will ask for eighteen months in

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<v Speaker 5>prison for Johnston, saying he was part of that mob

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<v Speaker 5>that day. Johnston will seek leniency. His defense lawyer says

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<v Speaker 5>he has lost work over this. Pro Western opposition parties

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<v Speaker 5>in Georgia are crying foul at Saturday's parliamentary elections that

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<v Speaker 5>leave pro Moscow parties with a majority, with surveys showing

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<v Speaker 5>a vast majority of Georgian's wanting to join the European

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<v Speaker 5>Union observers fan across Georgia. The head of the European delegation,

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<v Speaker 5>Antonio Lopez Tourist White says irregularities were detected by observers.

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<v Speaker 14>We expressed did concern about the democratic backsliding in Georgia.

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<v Speaker 14>We fear that the climate of hatred and intimidation that

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<v Speaker 14>was also mentioned before we witness on the election, they

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<v Speaker 14>could seriously undermine the political process in Georgia.

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<v Speaker 5>Georgia's president, who wants to join the EUS, says their

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<v Speaker 5>country was a victim of a Russian special operation trying

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<v Speaker 5>to alter the outcome. A new bank rate study confirms

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<v Speaker 5>what many families already know. Childcare is expensive. Analyst Alex

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<v Speaker 5>Gaily says there are important websites parents can use to

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<v Speaker 5>find financial assistance for childcare and local providers.

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<v Speaker 8>Childcare dot goub can take you to your state's website.

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<v Speaker 8>And that is a great resource to go to to

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<v Speaker 8>find out more about where you get financial systems and

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<v Speaker 8>fine childcare in your state.

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<v Speaker 5>Gaily also recommends checking with local county and state offices

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<v Speaker 5>to see what services, tax breaks, or financial opportunities are

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<v Speaker 5>available in their area for childcare. The survey found the

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<v Speaker 5>most expensive states for childcare or New York, New Mexico,

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<v Speaker 5>and Hawaii, the least expensive where it's South Dakota, North

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<v Speaker 5>Dakota and Utah. Finally, in a recent study ranks the

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<v Speaker 5>best cities for Tricker treaders to experience Halloween. The comparison

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<v Speaker 5>of cities that provide and exciting yet save Halloween are

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<v Speaker 5>found in a report from the website wallet hub the

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<v Speaker 5>top Halloween cities New York, Jersey City, Miami, and Las Vegas.

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<v Speaker 5>Global News twenty four hours a day and whenever you

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<v Speaker 5>want it with Bloomberg News Now Michael Barr, and this

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<v Speaker 5>is Bloomberg Care all.

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<v Speaker 6>Right, Michael Barr, thank you time now for the Bloomberg

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<v Speaker 6>Sports Update, brought to you by Tri State. Audie. Here's

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<v Speaker 6>John stash Hour. John, good morning.

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<v Speaker 4>You want to carry a World Series in the Bronx

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<v Speaker 4>first time in fifteen years. One question going into tonight's

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<v Speaker 4>Game three was answered yesterday. The Dodgers say showy Otani

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<v Speaker 4>good to go despite the shoulder injury suffered late in

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<v Speaker 4>Game two, and now we'll see about possible changes in

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<v Speaker 4>the Yankee lineup. Austin Wells four for forty one in

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<v Speaker 4>the postseason with eighteen strikeouts. Alex Erdugo won for his

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<v Speaker 4>last seventeen. Ten teams have come back from being down

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<v Speaker 4>to nothing in the World Series. In fact, tapping the

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<v Speaker 4>last two times these teams have met, Anthony Rizzo knows

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<v Speaker 4>only once as a team come back from three nothing down.

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<v Speaker 3>This team has no quit.

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<v Speaker 10>So the biggest thing is we win.

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<v Speaker 4>If we win that game Monday, you know, a pressure

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<v Speaker 4>goes to the other side and to make this a series.

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<v Speaker 4>Yanks will start Clark Schmidt. Dodgers go with Walker Bueller.

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<v Speaker 4>Giants will be playing at the same time in Pittsburgh

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<v Speaker 4>and you can hear the game on Bloomberg Radio in

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<v Speaker 4>New York. Bloomberg eleven three to zero has Giants Steelers tonight,

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<v Speaker 4>starting with the pregame at six thirty. The Jets fifth

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<v Speaker 4>straight loss twenty five twenty two at New On The

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<v Speaker 4>Patriots score the when he touched on on a fourth

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<v Speaker 4>down run with twenty two seconds left. It's the pats

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<v Speaker 4>first win since Week one. Upset of the day was

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<v Speaker 4>in Cleveland, Browns beat the Ravens twenty nine twenty four

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<v Speaker 4>to end a five game losing streak. It was ending

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<v Speaker 4>Baltimore's five game win streak. No question about the best

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<v Speaker 4>finish of the day. That was in Washington. The Bears

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<v Speaker 4>had taken their first lead with twenty five seconds left.

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<v Speaker 4>One last chance for the Commanders. Here comes to Hail Mary,

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<v Speaker 4>but the game on the line and the bustle's stop Brown.

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<v Speaker 4>Oh my goodness, this Dallas time. Crazy call on CBS

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<v Speaker 4>Washington won eighteen fifteen last night. The forty nine ers

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<v Speaker 4>that scored the Cowboys twenty one ns in the third

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<v Speaker 4>quarter and beat Dallas thirty to twenty four. Then that's

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<v Speaker 4>home opener one fifteen one oh two win over Milwaukee.

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<v Speaker 4>John Stishwar Bloomberg Sports Karen Nathan.

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<v Speaker 3>Coast to Coast on Bloomberg Radio nationwide on Syrias XM,

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<v Speaker 3>and around the world on Bloomberg dot Com and the

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<v Speaker 3>Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

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<v Speaker 3>Nathan Hager.

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<v Speaker 2>With eight days to go until election day, both Donald

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<v Speaker 2>Trump and Kamala Harris are honing their closing arguments in

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<v Speaker 2>the final stretch of an air tight presidential campaign.

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<v Speaker 3>We're going to defeat Kamala Harrison.

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<v Speaker 4>We're going to win back the beautiful White House.

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<v Speaker 7>Turn the page on that same old, tired playbook because

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<v Speaker 7>we are exhausted with it.

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<v Speaker 2>The Vice president rallied her supporters last night in Philadelphia,

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<v Speaker 2>while the former president held a marathon event in the

0:12:34.840 --> 0:12:38.199
<v Speaker 2>heart of his hometown at New York's Madison Square Garden.

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<v Speaker 2>For more, we are joined this morning by Bloomberg News

0:12:40.920 --> 0:12:44.720
<v Speaker 2>senior editor Bill Ferries. Bill, Good morning. The former president

0:12:44.800 --> 0:12:47.760
<v Speaker 2>promised a spectacle at the storied arena. What were some

0:12:47.880 --> 0:12:48.880
<v Speaker 2>of your takeaways.

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<v Speaker 15>Well, it definitely was a spectacle. I mean, it's starting

0:12:52.480 --> 0:12:56.400
<v Speaker 15>with a basically six hours in length there at Madison

0:12:56.440 --> 0:13:00.160
<v Speaker 15>Square Gardens, kind of an iconic venue for a political rally.

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<v Speaker 15>I don't think Donald Trump's remarks are probably what's going

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<v Speaker 15>to be remembered most from it. He gave what he

0:13:07.960 --> 0:13:09.840
<v Speaker 15>said a lot of the things that are common about

0:13:10.160 --> 0:13:13.040
<v Speaker 15>in his stump speeches. But I think what's really drawn

0:13:13.120 --> 0:13:15.400
<v Speaker 15>a lot of attention are some of the speakers who

0:13:15.440 --> 0:13:18.720
<v Speaker 15>came before him. There was quite a number of people

0:13:18.760 --> 0:13:22.720
<v Speaker 15>who are well known to Trump supporters and conservative audiences.

0:13:22.800 --> 0:13:27.640
<v Speaker 15>Tucker Carlson was there, Doctor Phil made an appearance supporting Trump.

0:13:28.559 --> 0:13:32.439
<v Speaker 15>But there were a lot of comments, including some by

0:13:32.480 --> 0:13:35.439
<v Speaker 15>a comedian who was there, that have been really taken

0:13:35.480 --> 0:13:40.439
<v Speaker 15>to task overnight. A lot of talking insulting Puerto Rico,

0:13:40.600 --> 0:13:43.800
<v Speaker 15>saying it's a floating island of garbage that has been

0:13:44.120 --> 0:13:47.880
<v Speaker 15>latched upon by a lot of Hair supporters, prominent Puerto

0:13:47.960 --> 0:13:52.080
<v Speaker 15>Ricans in the United States, saying that that reflects how

0:13:52.200 --> 0:13:57.120
<v Speaker 15>the Trump campaign views the island and views Puerto Ricans.

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<v Speaker 15>Interestingly enough, outside of Florida, which has the largest population

0:14:01.760 --> 0:14:06.240
<v Speaker 15>of Puerto Ricans in the continental US, the second largest

0:14:06.280 --> 0:14:09.680
<v Speaker 15>group is in Pennsylvania, so one of the key battleground states.

0:14:09.960 --> 0:14:12.520
<v Speaker 15>So nobody knows at this point if that will make

0:14:12.760 --> 0:14:14.600
<v Speaker 15>much of a difference in the election or not. But

0:14:14.640 --> 0:14:18.600
<v Speaker 15>it's something that Harris supporters are talking a lot about overnight.

0:14:18.760 --> 0:14:21.400
<v Speaker 2>Yeah, I guess Harris was talking about it herself with

0:14:21.480 --> 0:14:25.200
<v Speaker 2>a post on x talking about a plan to boost

0:14:25.280 --> 0:14:28.840
<v Speaker 2>the Puerto Rican economy and power grid. I mean, how

0:14:28.960 --> 0:14:32.000
<v Speaker 2>could she potentially seize on this at a time when

0:14:32.360 --> 0:14:35.160
<v Speaker 2>just a few days ago, former President Trump was in

0:14:35.200 --> 0:14:37.080
<v Speaker 2>the sun Belt trying to court Latino voters.

0:14:38.160 --> 0:14:41.080
<v Speaker 15>Yeah, you know, it's hard this election. The results will

0:14:41.120 --> 0:14:43.720
<v Speaker 15>get sliced and diced a thousand ways, and it's hard

0:14:43.720 --> 0:14:46.680
<v Speaker 15>to know what moves the needle at this point. But

0:14:46.840 --> 0:14:51.080
<v Speaker 15>it is kind of interesting that Trump's event was marred

0:14:51.400 --> 0:14:54.840
<v Speaker 15>or marked by these comments at the same time that

0:14:54.960 --> 0:15:00.320
<v Speaker 15>Kamala Harris was out talking to Latino business owners and

0:15:00.320 --> 0:15:05.800
<v Speaker 15>and voters in Philadelphia. So, whether you know, everyone is

0:15:05.840 --> 0:15:09.480
<v Speaker 15>trying to get any type of little extra edge they

0:15:09.520 --> 0:15:12.080
<v Speaker 15>can in these final days. They obviously need to turn

0:15:12.120 --> 0:15:15.240
<v Speaker 15>out their core supporters, but they're trying to build on

0:15:15.320 --> 0:15:18.560
<v Speaker 15>that and trying to lure some of those relatively few

0:15:18.680 --> 0:15:21.600
<v Speaker 15>undecided voters at this point. And these are the kind

0:15:21.640 --> 0:15:24.560
<v Speaker 15>of things that, you know, if Harris ends up winning,

0:15:24.840 --> 0:15:27.280
<v Speaker 15>people will be looking at the Pennsylvania results to see

0:15:27.320 --> 0:15:30.680
<v Speaker 15>if that mattered, and if Trump wins, they'll be looking

0:15:30.720 --> 0:15:33.080
<v Speaker 15>at some of these other things that have happened in

0:15:33.320 --> 0:15:35.160
<v Speaker 15>at the end stages of the campaign to see if

0:15:35.160 --> 0:15:36.080
<v Speaker 15>that made the difference.

0:15:36.400 --> 0:15:39.040
<v Speaker 2>In our last minute bill, we also heard from Elon

0:15:39.160 --> 0:15:42.640
<v Speaker 2>Musk on the stage, one of former President Trump's biggest

0:15:42.720 --> 0:15:48.040
<v Speaker 2>supporters financially certainly promising to cut two trillion dollars from

0:15:48.040 --> 0:15:51.680
<v Speaker 2>the federal budget if he joins a Trump administration. Is

0:15:51.720 --> 0:15:52.440
<v Speaker 2>that realistic?

0:15:53.680 --> 0:15:57.360
<v Speaker 15>It's hard to see where where, you know, how that

0:15:57.400 --> 0:16:00.520
<v Speaker 15>gets through. He was responding to a question by from

0:16:00.600 --> 0:16:05.120
<v Speaker 15>Canter Fitzgerald's CEO, Howard Lutnick, who said, how much could

0:16:05.120 --> 0:16:08.640
<v Speaker 15>he rip out of the budget that Harris, that Biden

0:16:08.680 --> 0:16:11.120
<v Speaker 15>and Harris last proposed, And he said, yeah, as you mentioned,

0:16:11.120 --> 0:16:15.560
<v Speaker 15>two trillion dollars, I mean right now. Trump's economic pitch

0:16:15.680 --> 0:16:19.400
<v Speaker 15>to voters has largely been on tax cuts, whether it's

0:16:19.440 --> 0:16:24.000
<v Speaker 15>tax cuts for tips, tax cuts for home caregivers, things

0:16:24.080 --> 0:16:26.360
<v Speaker 15>like that. There hasn't been a lot of talk about

0:16:26.440 --> 0:16:29.600
<v Speaker 15>new revenue, and so the cost of those tax cuts

0:16:29.840 --> 0:16:33.240
<v Speaker 15>over the coming decade estimated in the trillions. To add

0:16:33.280 --> 0:16:35.840
<v Speaker 15>two trillion to that, it's hard to imagine where that

0:16:35.880 --> 0:16:40.880
<v Speaker 15>comes when half the budget is defense and you know

0:16:41.960 --> 0:16:44.840
<v Speaker 15>things like that, so gonna be tough to find it.

0:16:45.240 --> 0:16:48.680
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