Speaker 1: Broadcasting live to New York, Boolberg even to Washington, d C,
Speaker 1: bloom to Boston, BLUEMBERG twelve D to San Francisco, Bloomberg
Speaker 1: nine to the country. She is exam General one nine
Speaker 1: and around the globe the Bloomberg Radio plus Appen Bloomberg
Speaker 1: dot com. This is taking stock. I'm cathing Hayes along
Speaker 1: with Pim Fox. It's not just about watching the feder Reserve.
Speaker 1: This week, traders investors in the United States and actually
Speaker 1: around the world are watching the Democratic National Convention, where
Speaker 1: the opening yesterday in Philadelphia saw Hillary Clinton booed every
Speaker 1: time her name was mentioned. She was boot though by
Speaker 1: supporters of Bernie Sanders. PIM, We're gonna be looking about
Speaker 1: what's going on there and the difficulties she may have
Speaker 1: and pulling the party together. Now, yes, we'll also be
Speaker 1: talking about the video game industry in the United States.
Speaker 1: It is worth more than twenty three billion dollars. Are
Speaker 1: talking PlayStation xbox. We're gonna get all the details right now.
Speaker 1: Let's get details from Charlie Pellert and the Bloomberg News,
Speaker 1: from the Bloomboog Bloomberg Business Flag and I thank you
Speaker 1: very much, PIM, thank you. Kathleen Hayes a mixed picture
Speaker 1: for US equities, A little change right now in the SMP,
Speaker 1: fluctuating between gains and losses. It is down by less
Speaker 1: than half a point down, Industrials down twenty eight A
Speaker 1: dropped there of two tents of one percent, nes stank
Speaker 1: of eight a game of two tents of one percent.
Speaker 1: Got a trading halt now on shares of analog devices
Speaker 1: and also linear technology. People familiar with the matters say
Speaker 1: Analog is in advanced talks to acquire linear technology. Leco
Speaker 1: Global acquiring Visio for two billion is the Chinese technology
Speaker 1: conglomerate expands further in the US Visio as a maker
Speaker 1: of inexpensive flat screen TVs. Earnings News Twitter after the
Speaker 1: bell down one point seven percent, also reporting Apple it
Speaker 1: is down eight tens of one percent. Tom Giles is
Speaker 1: Bloomberg's executive editor for Technology. It's really hard to really
Speaker 1: move the needle a company as large as Apple. We
Speaker 1: hear a lot of talk about a TV product, but
Speaker 1: they have a lot of problems getting all of the
Speaker 1: different content providers behind that product. We hear a lot
Speaker 1: about the car product that's not going to come along
Speaker 1: for a long time, and when it does, how game
Speaker 1: changing can it really be? So you do have Apple
Speaker 1: coming in and doing things like returning cash to shareholders,
Speaker 1: issuing dividends, acting like one of these comp like an
Speaker 1: older company that's not high growth. Gold up ninety cents,
Speaker 1: the gain of point one percent, Unce crude oil forty two,
Speaker 1: Natia barrel for West Texas intermediate crude down twenty three
Speaker 1: cents to drop there of point five percent, and a
Speaker 1: three thirty two on Wall Street. Now we'll look at
Speaker 1: the other stories making news. Thank you, Charlie from the
Speaker 1: Bloomberg Newsroom. I'm Jill Schneider. This news update is brought
Speaker 1: to you by the Jeep Grand Cherokee, the most awarded
Speaker 1: suv ever. The Grand Cherokee continues to raise the bar
Speaker 1: with its luxurious interior and legendary four by four capability.
Speaker 1: I wanted your local Jeep dealer today. Vermont Senator Bernie
Speaker 1: Sanders says he empathizes with young people who feel disappointed
Speaker 1: after the results of the Democratic primary. Sanders spoke at
Speaker 1: a Bloomberg Politics breakfast in Philadelphia this morning. I think
Speaker 1: that Donald Trump is a danger to this country. I
Speaker 1: think he's a demagogue. I think that it's not just
Speaker 1: me who talked to some of his conservative Republican colleagues
Speaker 1: who will tell you that they've perceived that he does
Speaker 1: not understand the Constitution of the United States. Republican presidential
Speaker 1: nominee Donald Trump says he has a ten point plan
Speaker 1: to clean up the Veterans Affairs Department. Trump gave details
Speaker 1: while speaking at the VFW National Convention in Charlotte, North Carolina. Today,
Speaker 1: I'm going to use every lawful authority to remove and
Speaker 1: discipline Federal employees are managers who reach their public trust.
Speaker 1: Tim Kaine's wife has resigned as Virginia's Secretary of Education
Speaker 1: and Holding, stepped down from the cabinet level post because
Speaker 1: her husband has been picked to be Hillary Clinton's running mate.
Speaker 1: Atlantic City plans to cover its upcoming bond payments even
Speaker 1: though it has yet to receive a promised bridge loan
Speaker 1: from New Jersey Ba's, according to the mayor's chief of staff,
Speaker 1: who says the city has every intention of meeting all
Speaker 1: financial obligations. This week, Global News twenty four hours a day,
Speaker 1: powered by more than journalists and analysts in more than
Speaker 1: one twenty countries. I'm Jill Schneider. This is Bloomberg, Charlie,
Speaker 1: and we are brought to by National Realty Providers of
Speaker 1: one hundred percent satisfaction guaranteed New York City realty investments.
Speaker 1: See them at n r I, a dot net recapping stocks,
Speaker 1: little change Desk and P five hundred indext down half
Speaker 1: a point. I'm Charlie Peloton. That's a Bloomberg business flash.
Speaker 1: This is taking stock with Pim Fox and Kathleen Hayes
Speaker 1: on Bloomberg Radio. At the Democratic National Convention this evening,
Speaker 1: form President Bill Clinton will officially nominate Hillary Clinton to
Speaker 1: be the Democratic presidential candidate. Here to tell us more
Speaker 1: as Heath Brown Assistant Professor of Public Policy at John
Speaker 1: Jay College of Criminal Justice and the Graduate Center. He
Speaker 1: is also the author of Pay to Play Politics, How
Speaker 1: Money Defines the American Democracy. Heath Brown tell us about
Speaker 1: the speakers at tonight's uh scheduled convention and what that
Speaker 1: tells you about the effort of the Democrats to get
Speaker 1: out the vote. Yeah. I think there's so many interesting
Speaker 1: things that will see tonight that build off of what
Speaker 1: we saw Monday night, highlighted by the participation of some
Speaker 1: of the most visible political figures of the last number
Speaker 1: of years, including the former president Bill Clinton. I think
Speaker 1: that what we're going to see is the way in
Speaker 1: which those figures can help to start to move the
Speaker 1: campaign from the phase that we've been in, which is
Speaker 1: choosing the candidate, to starting to turn out the vote.
Speaker 1: And sometimes that's done with the motivation that comes from
Speaker 1: seeing people like Bill Clinton and some of these other
Speaker 1: very visible leaders take the stage and announce how they
Speaker 1: see this election and why they see it as so important.
Speaker 1: So I think that's some of what will see tonight.
Speaker 1: M hmm. Well, I'm sure they want to ignore the
Speaker 1: wiki leaks, uh leak on all the email from UH
Speaker 1: in d n C. Now, of course w Wasser and
Speaker 1: Schultz has stepped down as the head of the d
Speaker 1: n C. But uh, to what extent does that somehow
Speaker 1: have to be dealt with? To what extent does it
Speaker 1: sort of linger? Um? And is it best just to
Speaker 1: ignore it? Move on? Get Bernie Sanders supporters to your
Speaker 1: supporters to not boo and Hillary Clinton's names mentioned? Um?
Speaker 1: How do they deal with that part of it? Yeah?
Speaker 1: I think what we're learning is conventions are not always tidy,
Speaker 1: but they certainly can be exhilarating, and I think we
Speaker 1: saw that demonstrated on Monday with the untidiness of the
Speaker 1: afternoon and in the exhilaration of the first ladies. Can
Speaker 1: I just champion there though, because they're reporting The media
Speaker 1: reported on their Republican National Convention bedlam when there there
Speaker 1: was a role call vote that was overwritten, and I
Speaker 1: thought to myself, doesn't anybody watch political conventions? I mean,
Speaker 1: to me, it is exciting. It's interesting to see in
Speaker 1: a way the discord in a and in both parties,
Speaker 1: some real, active, active actions. That's I couldn't agree more.
Speaker 1: I think think what we're what we saw last week
Speaker 1: and what we're seeing this week is the Democratic Party
Speaker 1: and the Republican Party last week trying to reconcile all
Speaker 1: sorts of internal conflicts over the chosen candidate and also
Speaker 1: policy in real time on television. I think this shows
Speaker 1: us a side of politics that we don't often get
Speaker 1: to see, which is some of these disagreements. I think
Speaker 1: this is one of the reasons why I think simply
Speaker 1: watching these conventions is good for our democracy, even if
Speaker 1: they're not exactly they don't play out in the scripted
Speaker 1: way that we have come to a spect of political event.
Speaker 1: I think those disagreements that that you're just you just
Speaker 1: described make conventions a very very interesting part of the election,
Speaker 1: and they they the messiness and the reconciliation of the differences,
Speaker 1: including things like the wicked LEAs emails, is exactly what
Speaker 1: makes them so very interesting. To the appearance of speakers
Speaker 1: such as us a senator from New York, a Democrat,
Speaker 1: Chuck Schumer, as well as former Secretary of State Madeline Albright,
Speaker 1: a video message from a video message from former President
Speaker 1: Jimmy Carter, and then I believe also an introduction by
Speaker 1: Meryl Street. This is designed to give people in a sense,
Speaker 1: speaking lines when they go out and try to get
Speaker 1: people to the polls. Yeah, I think that's so interesting
Speaker 1: in some ways. I think what we see at the
Speaker 1: convention is the the largest and most visible focus group
Speaker 1: that a party can hold. And so they know they've
Speaker 1: got a number of months before their election and they
Speaker 1: have to do political advertise eismans, and they have to
Speaker 1: write stump speeches, they have to create the content of
Speaker 1: their argument to the American people. They have this opportunity
Speaker 1: to try out lots of different lines, different angles of attack,
Speaker 1: different images that they might want to put put into
Speaker 1: those ads, and I think we see that we've even
Speaker 1: testing it with the amount of applause that comes from
Speaker 1: the convening, from the reaction on social media, from the
Speaker 1: response of pundit, and I think that for that reason,
Speaker 1: exactly what you suggest is right. We see what might
Speaker 1: work and might what might ring flat, and over the
Speaker 1: next couple of months, we'll see that replayed numerous times
Speaker 1: as the actual candidates go out onto the stump trying
Speaker 1: to win votes. You entwers have made my question, Heath,
Speaker 1: we saw Donald Trump getting a post convention bounds, moving
Speaker 1: ahead of a CNN pull the last couple of days
Speaker 1: for each candidate, what is the number one issue that
Speaker 1: they are going to hammer on to be the one
Speaker 1: that wins the race in November. Well, I think it's
Speaker 1: really two too early to see that, but I think
Speaker 1: in the convention, in the convention this week, we see
Speaker 1: the Democrats starting to play a couple of these out.
Speaker 1: I think that the repetition of the video and the
Speaker 1: image of Donald Trump apparently making fun of a reporter
Speaker 1: during the campaign is something that seems to be uh
Speaker 1: an issue and an angle that the Democrats appear to
Speaker 1: care about. And I think one of the interesting angle
Speaker 1: aspects of that is that this connects to another thing
Speaker 1: that was going on last night and we'll go on
Speaker 1: again today, which is the Democrat taking credit for some
Speaker 1: of their policy victories, like the Individuals with Disabilities Education Act.
Speaker 1: That's something I think they're going to hit back on it.
Speaker 1: Keith Brown, thank you so much for joining us, Assistant
Speaker 1: Professor of Public Policy at the City University of New York.
Speaker 1: That's tuney looking at the Democratic National Convention for US today.
Speaker 1: I'm Caffeine Haslam with PM Fox. Is this taking Stock
Speaker 1: on Bloomberg Radio? And this is Bloomberg coming up on
Speaker 1: taking Stock, PlayStation's Xbox, the twenty three billion dollar video
Speaker 1: game industry. How you can play to win. That's next