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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, let's begin with the latest from the Republican National Convention.

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Speaker 2: A dramatic moment on the first night in Milwaukee.

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Speaker 3: Please welcome Donald J.

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Speaker 4: Trump.

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Speaker 2: The former president entered Fiser arena to a standing ovation

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Speaker 2: with his right ear and a bandage from the bullet

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Speaker 2: wound he suffered on Saturday. This was Trump's first public

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Speaker 2: appearance since that assassination attempt in Pennsylvania. Convention speakers are

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Speaker 2: throwing their support behind their nominee, including South Dakota Governor

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Speaker 2: Christy Nome.

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Speaker 5: Donald J.

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Speaker 6: Trump is our man in the arena.

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Speaker 1: He will never stop fighting for us. He will never

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Speaker 1: stop and now he is bringing all of us together.

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Speaker 3: Now.

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Speaker 2: Former President Trump did not speak at the convention last night.

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Speaker 2: He did walk into a box near his family and

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Speaker 2: stand next to Senator JD. Vance, the man he had

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Speaker 2: tapped just hours before as his running mate.

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Speaker 1: Well Nathan. Senator Vance is already making it clear that

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Speaker 1: he'll boost former President Trump's populist stance on foreign policy.

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Speaker 1: In his first interview since getting the vice presidential nod.

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Speaker 1: Vance told Fox's Sean Hennity how Trump would bring the

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Speaker 1: war in Ukraine to an end.

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Speaker 7: I think what President Trump has promised to do is

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Speaker 7: go in there, negotiate with the Russians and Ukrainians, bring

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Speaker 7: this thing to a rapid close so that America can

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Speaker 7: focus on the real issue, which is China. That's the

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Speaker 7: biggest threat for our country, and we're completely.

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Speaker 8: Distracted from her.

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Speaker 1: Senator JD. Vance on Fox News, Republican Governor Brian Kemp

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Speaker 1: of Georgia says Vance will be able to help Trump

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Speaker 1: deliver a domestic message as well.

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Speaker 2: For me, and what I'm hearing every day is that,

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Speaker 2: you know, Americans and Georgians can afford another four years

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Speaker 2: of Joe Biden. I think that is a message that

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Speaker 2: JD Vance can deliver.

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Speaker 1: Georgia Governor Brian Kemp appeared on Bloomberg's Balance of Power

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Speaker 1: from the Republican National Convention in Milwaukee.

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Speaker 2: And Karen jed Vance joining the GOP tickets also being

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Speaker 2: cheered in a portion of Silicon Valley. We get that

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Speaker 2: part of the story from Bloomberg's Ed Baxter in San Francisco.

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Speaker 6: Much of the area here has been a liberal bastion,

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Speaker 6: a Democratic stronghold, but recently a louder voice is being

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Speaker 6: heard here in the valley, that of smaller tech and

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Speaker 6: venture capital. Vance has been there and today Summon Tech

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Speaker 6: chearing one of their own closer to the Oval office,

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Speaker 6: Elon Musk saying great choice, David Sachs calling Vance an

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Speaker 6: American patriot, Peter Teel who has had his on and

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Speaker 6: off relationship cheering the pick, and of course the GOP

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Speaker 6: hope is that some of these techies will pony up

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Speaker 6: when it comes to financial support. In San Francisco. I'm

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Speaker 6: at Baxter Bloomberg Radio.

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Speaker 1: All right, and thanks well, I did mention Elon Musk

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Speaker 1: approving the Vance VP selection. The billionaires now pledging to

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Speaker 1: pour forty five million dollars a month in to a

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Speaker 1: pro Donald Trump political groups, a move that would flood

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Speaker 1: the Republican nominee re election effort with cash through the

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Speaker 1: November election. Must endorse Trump and a post on X

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Speaker 1: after this assassination attempt.

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Speaker 2: Well as for President Biden, Karen, He's now saying it

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Speaker 2: was a mistake to say he wanted to put a

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Speaker 2: bullseye on Donald Trump. But in an NBC News interview

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Speaker 2: with Lester Holt, the President says his opponent's rhetoric has

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Speaker 2: been more incendiary.

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Speaker 5: The truth of the matter was what I guess I

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Speaker 5: was talking about as the time was there's very little

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Speaker 5: focus on Trump's Yeah, the term as bullseye was a

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Speaker 5: mistake to use. I I didn't say crossnairs bulls. I'm

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Speaker 5: focus on it, Focus on what he's doing, focus on

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Speaker 5: as as policies, focus on the number of lies, he

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Speaker 5: told the Debate Now.

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Speaker 2: President Biden also told NBC's leicster Hold he plans to

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Speaker 2: debate former President Trump again in September.

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Speaker 6: Well.

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Speaker 1: This morning, Nathan President Biden is unveiling a new proposal

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Speaker 1: to cap a rental costs across the country. Plan would

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Speaker 1: strip at tax benefit from landlords who increase attendance rent

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Speaker 1: by more than five percent per year. The measure would

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Speaker 1: need to be approved by Congress.

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Speaker 2: Turning to the economy Now, Karen J. Powell says recent

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Speaker 2: data give policymakers more confidence than inflation is heading toward

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Speaker 2: the Fed's two percent goal. The FED chair spoke with

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Speaker 2: David Rubinstein at the Economic Club of Washington on inflation.

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Speaker 4: In the first quarter. We didn't make any more progress

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Speaker 4: the second quarter. Actually, we did make some more progress.

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Speaker 4: We've had now three better readings, and if you average them,

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Speaker 4: that's a pretty good pace.

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Speaker 2: Fed Chair Powell also insists he's not sending a message

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Speaker 2: about rate cut timing. The next decision from the Fed

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Speaker 2: is July thirty first.

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Speaker 1: Well on the equity front, Nathan, we get second quarter

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Speaker 1: earnings this morning from two of the nation's biggest banks,

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Speaker 1: and we get more from Bloombury Stown Busby.

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Speaker 9: Bank of America warned back in April that second quarter

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Speaker 9: net interest income could be at a quote low point

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Speaker 9: for the year, expected to fall for a third quarter straight. Meantime,

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Speaker 9: Morgan Stanley Maypoe its largest revenue gained since twenty twenty one,

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Speaker 9: with an expected increase of six percent. That's thanks to

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Speaker 9: equity trading and a resilient fixed income market. Tom Busby,

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Speaker 9: Bloomberg Radio.

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Speaker 2: All right, Tom, thanks for also watching shares of Match

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Speaker 2: this morning. They're up eight percent in early trading. Activist

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Speaker 2: investors Starboards built to stake more than six point six

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Speaker 2: percent in the dating app. That's according to a letter

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Speaker 2: reviewed by Bloomberg News. Starboard plans to push for a

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Speaker 2: sale of Match if the company fails to turn around

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Speaker 2: its operations.

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Speaker 1: And in Germany, Nathan shares of Hugo Boss are plunging

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Speaker 1: to their lowest level since twenty twenty one. The high

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Speaker 1: end fashion retailer slashed its profited guidance for the year,

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Speaker 1: citing weakness and key markets like China and the UK,

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Speaker 1: and Hugo Boss shares down more than eight percent this morning.

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Speaker 1: But as time now for a look at some of

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

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

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Speaker 1: Michael Good Morning.

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Speaker 10: Good Morning care In the New York Attorney General and

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Speaker 10: New York Civil Liberties Union have filed lawsuit against Nassau County.

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Speaker 10: It comes after County Executive Blakeman signed a new law

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Speaker 10: that bans transgender females from participating in women's sporting events

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Speaker 10: at county run parks and facilities. Fellow Republican county legislator

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Speaker 10: Howard Capel would say.

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Speaker 3: It's a common sense kind of measure because.

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Speaker 5: Biological males are stronger, they're.

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Speaker 10: Bigger, they're faster. Gabriella Lerios is an attorney at the NYCLU.

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Speaker 1: This law just like the executive order that came before

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Speaker 1: it clearly violates our state's anti discrimination laws.

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Speaker 10: Audio courtesy of w NBC. Blakeman signed the order after

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Speaker 10: it passed along party lines in the county legislature. Jury

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Speaker 10: deliberations will continue for a third day today in the

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Speaker 10: corruption trial of Senator Bob Menendez. Yesterday, the jury deliberating

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Speaker 10: over eighteen charges at the bribery tru of the New

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Speaker 10: Jersey Democrat asked the judge in Manhattan Federal Court if

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Speaker 10: unanimity is required to acquit on a single account. Hours later,

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Speaker 10: they recessed for the day without reaching a verdict. The

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Speaker 10: Menendez trial is in its tenth week. A jury has

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Speaker 10: already found former NRI chief executive Wayne LaPier guilty of

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Speaker 10: misspending millions of dollars to fund his lavish lifestyle. Now

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Speaker 10: the organization's independence will be decided in the second phase

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Speaker 10: of a New York civil trial in New York. In

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Speaker 10: the first phase of the corruption trial brought by New

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Speaker 10: York State Attorney General Letitia James, a jury found LaPier guilty.

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Speaker 10: Now prosecutors are seeking remedies, including one that would curb

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Speaker 10: the NRA's independence. A judge will decide whether the organization

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Speaker 10: will be subject to three years of outside monitoring of

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Speaker 10: its finances and whether LaPier will be permanently banned from

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Speaker 10: ever returning to nr A leadership. Storms with tornadoes blew

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Speaker 10: through Iowa, Illinois, including Chicago, and Indiana, downing trees and

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Speaker 10: power lines and cutting power to more than four hundred

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Speaker 10: and sixty thousand people. This woman lives in Genoa, Illinois.

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Speaker 1: Transformers in our backyards all blue, and a tree fell

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Speaker 1: onto them.

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Speaker 8: Now we're trying to figure out what all has been

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Speaker 8: affected out here.

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Speaker 11: Trees are everywhere.

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Speaker 1: We are already hit with branches in the backyard.

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Speaker 10: The National Weather Service confirmed that a tornado hit Des Moines, Iowa.

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Speaker 10: Special Consul Jack Smith will appeal a Florida judge's decision

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Speaker 10: dismissing the federal case charging Donald Trump with mishandling classified

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Speaker 10: information and obstruction. US District Judge Aleen Kennon tossed out

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Speaker 10: the case after finding Attorney General Merrick Garland's appointment of

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Speaker 10: Smith as Special Counsul to investigate Trump was unconstitutional. The

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Speaker 10: government will now take the fight to the Eleventh Circuit

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Speaker 10: US Court of Appeals. Global News twenty four hours a

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Speaker 10: day and whenever you want it with the Bloomberg News. Now,

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Speaker 10: I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 1: Ray, Michael Barr, thank you time now for the Bloomberg

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Speaker 1: Sports Update with John stash Hour.

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Speaker 12: John all Right, Karen Tonight at Globe Live Field, Arlington, Texas.

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Speaker 12: It's the ninety fourth Baseball All Star Game nationally one

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Speaker 12: last year, first time since twenty twelve, and the n

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Speaker 12: L starting pitcher tonight is Pirates rookie Paul Steins. It

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Speaker 12: was just a year ago that he got drafted first overall,

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Speaker 12: he has very much lived up with the hype off

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Speaker 12: a great season at LSU. Aaron Judge will be facing

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Speaker 12: Steams tonight.

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Speaker 8: That's exciting. You know, got a chance to watch a

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Speaker 8: couple of his games, you know, the past couple of weeks,

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Speaker 8: you know, since he got called up, and it's it's

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Speaker 8: it's special stuff, man, electric stuff.

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Speaker 13: You know.

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Speaker 10: Not only is you.

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Speaker 8: Can talk about the velocity on his pitches and what

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Speaker 8: he does, but you know, the guy's.

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Speaker 10: A pitcher man.

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Speaker 8: He can work all three, four or five of his pitches,

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Speaker 8: throwed every part of his own any count.

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Speaker 12: Judge batting fourth in the AL order right behind his

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Speaker 12: Yankee team made Juan Sota, who's playing in a third

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Speaker 12: straight All Star Game with the third different team. The

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Speaker 12: Orioles Corbin starts tonight, So the al last night the

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Speaker 12: Home Run Derby. It came down of the Dodgers Tiascar

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Speaker 12: Hernandez and the Royals young star Bobby Witt Junior, who

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Speaker 12: at the twenty eighteen All Star Game won the High

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Speaker 12: School Home Run Derby. His last swing to try and

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Speaker 12: tie Hernandez came up just short, and Hernandez won fourteen thirteen,

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Speaker 12: first Dodger to win the Derby pee. Alonso was going

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Speaker 12: for three wins in the last four years. He went

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Speaker 12: out in the first round. Alonso the lone Mets representative.

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Speaker 12: Tonight in Abu Dhabi, US Olympic basketball team had a

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Speaker 12: struggle but got by Australia ninety eight ninety two Anthony

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Speaker 12: Davis seventeen points, fourteen rebounds. The US has another tune

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Speaker 12: up game tomorrow in Abu dab against Nikola Jokich and Serbia.

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Speaker 12: That's who Their first Olympic game is against wild Night

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Speaker 12: in Miami. Before Columbia's lost to Argentina in the Copa

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Speaker 12: America final that was bedlam fans storming into without tickets,

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Speaker 12: and then after the game, the president of Columbia's Federation

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Speaker 12: and his son were both arrested. They faced felony battery

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Speaker 12: chargers after an altercation with a security guard. John Stash

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Speaker 12: Edward Bloomberg.

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Speaker 3: Sports Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 3: and around the world on Bloomberg dot Com and the

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Speaker 3: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: You're listening to Bloomberg day Break with me, Nathan Hager

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Speaker 2: and Karen Moskow. I want to get more now on

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Speaker 2: the presidential race with former President Donald Trump now officially

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Speaker 2: the Republican nominee for a third time, thirty nine year

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Speaker 2: old Senator JD. Vance as his running mate. Joining us

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Speaker 2: now is presidential historian Andy Rude Levich, Professor of Government

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Speaker 2: at Bowden College. Andy, good morning, Thanks for being with us.

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Speaker 2: I have a feeling we're going to be seeing in

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Speaker 2: a loop that image of former President Trump marching into

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Speaker 2: Fiserv Arena in Milwaukee with his fist pumping and the

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Speaker 2: bandage over his ear. But I want to get your

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Speaker 2: impressions of the message we're hearing from the Republican National

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Speaker 2: Convention after the first night.

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Speaker 13: What are your takeaways, Yeah, well, thanks for having me,

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Speaker 13: good morning. I think it's a little bit of a

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Speaker 13: mixed message, to be honest, excuse me. The one hand,

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Speaker 13: you've got this sort of move towards unity and certainly

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Speaker 13: a very united Republican Party that was rapturous in its

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Speaker 13: response to the appearance of former President Trump. On the

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Speaker 13: other you have you know, sort of these calls for

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Speaker 13: unity up against you know, a number of speeches that

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Speaker 13: were not particularly unifying, and then of course the naming

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Speaker 13: of Senator JD. Vance as the new vice presidential nominee.

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Speaker 13: Vance of course, was husually critical of President Trump back

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Speaker 13: in twenty sixteen. He's come around. He is, you know,

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Speaker 13: now an aggressive proponent of the you know, Maga philosophy.

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Speaker 13: But he's again not necessarily a unifying figure, not necessarily

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Speaker 13: somebody who's going to expand the Trump base beyond those

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Speaker 13: who are already devoted to him. So, you know, I

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Speaker 13: thought this might be a chance for a reset, you know,

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Speaker 13: where we had, you know, a sort of a broadening

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Speaker 13: of the ticket, you know, maybe to include Trump critics

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Speaker 13: like Nicki Haley, Trump is sort of doubling down. So

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Speaker 13: there's an interesting decision there and we'll see how it

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Speaker 13: plays more widely.

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Speaker 2: Since you mentioned Nikki Haley, we are expecting the one

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Speaker 2: time rival, the one time UN ambassador in the Trump

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Speaker 2: cabinet to make her appearance at the RNC this evening.

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Speaker 2: What are you expecting to hear from former Ambassador Hailey tonight?

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Speaker 13: Yeah, Well, I assume that whatever she has planned as

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Speaker 13: a text has been pretty well vetted by the Trump campaign.

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Speaker 13: But it'll be interesting to see if she continues to,

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Speaker 13: you know, to she rather chooses to hew to the

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Speaker 13: sort of more isolationist line with regards, for example, to

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Speaker 13: NATO or Ukraine that the top of the ticket and

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Speaker 13: now number two on the ticket have been pretty vocal about.

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Speaker 13: You know. She was sort of more in the traditional

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Speaker 13: you know, foreign policy conservative lane during the primary season,

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Speaker 13: and of course was pretty critical of President Trump as

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Speaker 13: you know, also being old and perhaps passed his time

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Speaker 13: in office. I imagine all that has gone. So you're

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Speaker 13: going to talk about unity. She'll talk about the need

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Speaker 13: for everyone to come together, and I assume that she will,

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Speaker 13: you know, say that President Biden's not up to that task.

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Speaker 2: To have a running mate like JD. Vance who sort

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Speaker 2: of mirrors former President Trump's populist positions on foreign and

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Speaker 2: domestic policy. Does that put the wing represented by Nikki

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Speaker 2: Haley sort of on the sidelines in the GOP?

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Speaker 13: Oh, for sure. And of course she was disinvited to

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Speaker 13: the convention, you know, to start with, it's after the

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Speaker 13: assassination attempt. That was revised quickly, and of course he

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Speaker 13: had already released her delegates to former President Trump and

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Speaker 13: had said she would vote for him. But Yeah, in

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Speaker 13: terms of the policies that the Republican platform has adopted,

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Speaker 13: and certainly those espoused most loudly by now the two

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Speaker 13: people on the ticket, I don't see a lot of

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Speaker 13: room for that part of, you know, what was a

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Speaker 13: pretty big part of the Republican Party over time to

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Speaker 13: have much prominence.

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Speaker 2: And the time we have left, Andy, I'd want to

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Speaker 2: get your thoughts as well on the latest comments we've

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Speaker 2: heard from President Biden putting himself out there much more

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Speaker 2: in recent days, not just after the debate performance, but

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Speaker 2: after the assassination attempt and the interview with NBC News

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Speaker 2: last night, sort of defending his rhetoric.

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Speaker 13: Your thoughts, Yeah, Well, certainly, they've been trying now to

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Speaker 13: make a clear distinction between the attacks on Trump policy

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Speaker 13: and attacks on Trump the person. You know, maybe the

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Speaker 13: Republican Convention will give them more stances to focus on

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Speaker 13: substance rather than personality. But of course Trump is all

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Speaker 13: about personality, and it's pretty hard to distinguish the two

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Speaker 13: in a lot of ways, and Biden honestly was not

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Speaker 13: that careful in trying to do so. For the assassination attempt.

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Speaker 13: I mean, we use Marshall language all the time, we

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Speaker 13: take a shot at something, you know. I think the

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Speaker 13: use of the word bullseye was probably unfortunate, but surely

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Speaker 13: not literal. On the other hand, yeah, I mean, for

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Speaker 13: Biden to be on that foot is probably not great.

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Speaker 13: He wants to be in a position where he is,

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Speaker 13: in fact showing that he is, you know, empathetic, that

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Speaker 13: he is unifying, and you know, the more he's talking

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Speaker 13: about his own rhetoric, that's obviously going to be difficult.

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