Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Karen, we begin in Chicago. After the first night of
Speaker 2: the Democratic National Convention, President Joe Biden delivered an emotional
Speaker 2: and bitter sweet call for his fellow Democrats to rally
Speaker 2: behind his Vice President, Kamala Harris. The President touted his
Speaker 2: legacy while passing the torch to a new generation of Democrats.
Speaker 3: I spent the honor of my lifetime the servers or President.
Speaker 3: I love the job, but I love my country more.
Speaker 2: President Biden also pleaded with voters to keep fighting what
Speaker 2: he called the dangerous ideas of Donald Trump. He said,
Speaker 2: the Republican nominee is a threat to democracy.
Speaker 4: Democracy is prevailed, democracy, democras head delivered, and now democracy
Speaker 4: must be preserved.
Speaker 2: President Biden cast his decision to exit the race as
Speaker 2: the natural conclusion of a five decade political career. The
Speaker 2: president did face intense pressure from Democrats and owners to
Speaker 2: step aside following his disastrous debate performance earlier this summer.
Speaker 1: And Nathan Biden's speech followed a surprise appearance on stage
Speaker 1: from Vice President Kamala Harris, who thanked Biden for his
Speaker 1: service to the country.
Speaker 5: Joe, thank you for your historic leadership, for your lifetime
Speaker 5: of service to our nation, and for all you will
Speaker 5: continue to do. We are forever grateful to you.
Speaker 1: Vice President Harris also called Joe Biden an incredible President.
Speaker 1: Biden said choosing Harris as his running mate was the
Speaker 1: best decision of his whole political career and.
Speaker 2: Karen former Secretary of State, Hillary Clinton, spoke last night
Speaker 2: as well. She is the only woman, aside from Harris,
Speaker 2: to lead a major presidential party ticket, and Clinton called
Speaker 2: on Democrats to help Harris break through the glass ceiling.
Speaker 3: She will be a fighter for us.
Speaker 6: She will fight to lower costs for hardworking families, open
Speaker 6: the doors why for good paying jobs, and yes, she
Speaker 6: will restore abortion rights nationwide.
Speaker 2: Hillary Clinton also thanked President Biden, saying he brought dignity, decency,
Speaker 2: and confidence back to the White House.
Speaker 1: Well Nathan Donald Trump is downplaying recent criticism that he's
Speaker 1: undercutting the Fed's autonomy with statements about policy, and Bloomberg's
Speaker 1: Ed Baxter has that story.
Speaker 7: Trump says he thinks it's fine for a president to talk.
Speaker 7: He says it doesn't mean they have to listen. In
Speaker 7: an interview with Bloomberg, Trump says he job owned over
Speaker 7: interest rates with FED chair Jerome Powell. He also says, quote,
Speaker 7: a president certainly can be talking about interest rates because
Speaker 7: I think I have very good instincts. That doesn't mean
Speaker 7: I'm calling the shot, but it does mean I have
Speaker 7: the right to be able to talk about it like
Speaker 7: anybody else. Hi mortgage rates have become a campaign issue,
Speaker 7: with Vice Kamala Harris on veiling her plan to make
Speaker 7: housing more affordable last week at Backshirt Bloomberg Radio, all.
Speaker 8: Right and thank you.
Speaker 2: US intelligence agencies are speaking about the Trump campaign, saying
Speaker 2: they're confident Iran is behind a recent hack of the operation.
Speaker 2: Investigators think the attackers gained access to internal documents relating
Speaker 2: to the former president. They say they also tried to
Speaker 2: hack the Democratic Party, but it's unclear whether that succeeded.
Speaker 1: Now Nathan to the latest on the Israel Hamas war.
Speaker 1: After his DNC speech, President Biden said he remains hopeful
Speaker 1: about a ceasefire deal.
Speaker 3: It's still a pleasure, but.
Speaker 8: You can't predict for this joy so far.
Speaker 3: Isnel says they can work about as they prepared, but
Speaker 3: I was gold I'm off with now back on all,
Speaker 3: but it makes me see he's going to keep pushing.
Speaker 1: And the President and spoke with reporters before leaving Chicago. No.
Speaker 2: Secretary of State Antony Blincoln is in the Middle East, Karen.
Speaker 2: He says Israel has accepted a ceasefire proposal and now
Speaker 2: he's pressuring Hamas to do the same.
Speaker 9: The fierce urgency of now, that's what I think we're
Speaker 9: all feeling. And we do see this as the best
Speaker 9: opportunity to finally get this over the finish line.
Speaker 7: We'll never give up on it.
Speaker 9: But the challenges the longer this goes on, the more
Speaker 9: hostages will suffer and possibly perish, and the more other
Speaker 9: things happen that could make things impossible.
Speaker 2: Secretary of State Blinken will travel next from Israel to
Speaker 2: Egypt and Katar to meet with leaders there about next steps.
Speaker 2: Iran and hez Bellah have vowed to retaliate against Israel
Speaker 2: for recent assassinations they say it committed, and.
Speaker 1: Overnight Nathan Israel said it recovered the bodies of six
Speaker 1: male hostages and an operation around the city of khanyunis
Speaker 1: Israeli Prime Minister Benjamin Etanyel, who's said his country will
Speaker 1: make every effort to return all hostages, both the living
Speaker 1: and dead. Of the remaining Hamas Davis, at least forty
Speaker 1: are thought to be dead.
Speaker 2: Karen, we would turn now to the latest on a
Speaker 2: deadly incident off the coast of Sicily. Morgan Stanley International
Speaker 2: chairman Jonathan Bloomer is among those now confirmed missing after
Speaker 2: a yacht sank and a violent storm, along with British
Speaker 2: tech entrepreneur Mike Lynch and his family members. The Italian
Speaker 2: Coast Guard is leading search operations and has confirmed one
Speaker 2: person has died. Italian journalist Angela Correas explains how the
Speaker 2: vessel got in trouble.
Speaker 10: According to the eyewitnesses, the sailed boat was moored and
Speaker 10: also not far from the port, so it wouldn't.
Speaker 3: Have taken him long to go to the port.
Speaker 10: Just probably they were caught suddenly by a wind a tornado,
Speaker 10: and this is why the boat come sized.
Speaker 2: Italian journalist Angela Corea says Mike Lynch had recently been
Speaker 2: found not guilty in San Francisco over accusations he committed
Speaker 2: Silicon Valley's biggest ever fraud during the eleven billion dollars
Speaker 2: sale of his company to Hewlett Packard in twenty eleven.
Speaker 1: Well, Nathan, we want to turn to the markets now,
Speaker 1: and stocks pushed higher yes yesterday, adding to a rally
Speaker 1: that's already top three trillion dollars from this month's lows,
Speaker 1: I mean bests. The Fed will signal it's ready to
Speaker 1: start cutting interest rates. The S and P five hundred
Speaker 1: has advanced for eight straight days, its longest winning streak
Speaker 1: of the year. Wall Street is looking ahead to Friday's
Speaker 1: Jackson Hole speech from the FED Chair J Powell and
Speaker 1: Nadia Lovell, as senior strategist at UBS Financial Services, we
Speaker 1: want to hear from.
Speaker 5: Chair and Powell and how he's interpreting the data and
Speaker 5: whether will start to get some smoke signals on the
Speaker 5: potential rate cut in September. Certainly, some of the committee
Speaker 5: members have been coming out and some of the governors
Speaker 5: have been coming out suggesting that we could start to
Speaker 5: see the cutting cycle in September, which we do believe
Speaker 5: will start.
Speaker 1: Nadia level of UBS says, the August jobs report is
Speaker 1: the next big data point for the FED, and it's
Speaker 1: time now for a look at some of the other
Speaker 1: stories making news in New York and around the world.
Speaker 1: For that, we're joined by Bloomberg's Denise Pella Greeney. Good morning, Denise,
Speaker 1: Good morning to you.
Speaker 11: New York Congresswoman Alexandria Okaziokot delivering a blistering speech at
Speaker 11: the Democratic National Convention in Chicago, talking about the difference
Speaker 11: between former President Trump and Vice President Kamala Harris and
Speaker 11: I go one and tired of hearing about how a
Speaker 11: two bit.
Speaker 1: Union buster thinks of himself as more of a patriot
Speaker 1: than the woman who fights every.
Speaker 11: Single day and AOC also saying Trump would sell the
Speaker 11: country for a dollar if it meant lining his own
Speaker 11: pockets and greasing the palms of Wall Street friends. Disgraced
Speaker 11: former New York Congressman George Santos, pleading guilty to wire
Speaker 11: fraud and identity theft charges and also admitting to other
Speaker 11: crimes as part of the terms of a plea agreement
Speaker 11: with prosecutors.
Speaker 12: Discarded me now that tile oud ambission.
Speaker 2: It's a cloud my judgment leading me to make decisions
Speaker 2: that were unethical.
Speaker 11: And Santos to reporters outside the Long Island Courthouse after
Speaker 11: entering his plea. He faces at least two years in
Speaker 11: prison and must pay more than a half million dollars
Speaker 11: in restitution and forfeitures.
Speaker 7: Robert F.
Speaker 11: Kennedy Junior expected to appear in court today in his
Speaker 11: fight to get on the ballot for president in the
Speaker 11: battleground state of Pennsylvania. Democrats angling to force him off
Speaker 11: in what is expected to be a closely contested race.
Speaker 11: More from Bloomberg' Jeff Bellinger.
Speaker 10: Democratic Party aligned challengers say Kennedy's candidacy paperwork states a
Speaker 10: false home address, but Kennedy's campaign has dismissed the legal
Speaker 10: challenge as frivolous. Kennedy is also appealing a judge's decision
Speaker 10: in New York last week that rejected his nominating petitions
Speaker 10: because his listed address was a quote sham address. Pennsylvania
Speaker 10: has nineteen electoral votes, tied with Illinois for the fifth most.
Speaker 10: Jeff Bellinger Bloomberg Radio.
Speaker 11: And Connecticut Governor Ned Lamont has declared a state of
Speaker 11: emergency in his state. That's after Moore rain yesterday. Following
Speaker 11: those flash floods and landslides in the state and other
Speaker 11: part of the northeast Sunday, several people killed in the
Speaker 11: Connecticut storm. Global news twenty four hours a day and
Speaker 11: whatever you want it Withburg News.
Speaker 1: Now.
Speaker 11: I'm Denise Pelligriny. This is Bloomberg.
Speaker 1: All right, Denise, thank you. It's time now for the
Speaker 1: Bloomberg Sports Update with John stash Hour, John Gon Morning.
Speaker 13: Good morning, Garen, Mets and Orioles at Cityfield. Met get
Speaker 13: a two run first ending homer from J. D. Martinez.
Speaker 13: Gordigan in the fourth didn't score or even have another
Speaker 13: hit until the bottom of the ninth with the game
Speaker 13: tie the three the three.
Speaker 4: Ohs one on fifty to left center.
Speaker 3: This might do it.
Speaker 1: Back here the wall it is John put up the Bucks.
Speaker 3: Francisco Alvarez were a towering game, wedning.
Speaker 13: Hold Rod wc Mes themes despite striking and half fourteen times,
Speaker 13: beat Baltimore four to three. And they also got good
Speaker 13: news on Brandon Neimo Mri and his shoulder came back
Speaker 13: clean that we didn't play last night's day to day
Speaker 13: Yankees in the AL Central leading Cleveland Guardians tonight at
Speaker 13: the Stadium. The Yanks in their last thirty home games
Speaker 13: just eleven and nineteen. AL West leading half Stros made
Speaker 13: it eleven to last twelve. They beat the Red Sox
Speaker 13: five to four Astros also for the walk off home
Speaker 13: run bottom of the ninth. As expected, the Washington Commanders
Speaker 13: named rookie Jayden Daniels their Week one starting quarterback, which
Speaker 13: means Washington over the last eight seasons has had eight
Speaker 13: different Week one starting qbs. In New England, the feeling
Speaker 13: was the Patriots would use veteran Jacoby Prissett to begin
Speaker 13: the season, not rookie Drake May. Now new coach Gerrod
Speaker 13: Mayo not ruling out using May at the start. As
Speaker 13: for Giants starting QB, Daniel Jones had that miserable first
Speaker 13: quarter in Houston this past Saturday, two interceptions, including a
Speaker 13: gift rap pick six. His coach is Brian dave Ball.
Speaker 14: I thought he made a lot of good decisions as
Speaker 14: the game went on, made some nice rows and guys
Speaker 14: created some separation a couple drops, but you know, first
Speaker 14: time out there after a long layoff live ball, that
Speaker 14: was good for him.
Speaker 13: Preseason finale Saturday Night Life against the Jets. Couple of
Speaker 13: tennis finals in Cincinnati ONIX Center be Francis Tiafo, Arena
Speaker 13: Sablenko over Jess Pagoula. Up next to the US Open
Speaker 13: starting Monday. John Stashedward Bloomberg Sports Careen Nathan.
Speaker 8: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 8: and around the world on Bloomberg dot Com and the
Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 8: Nathan Hager.
Speaker 2: This morning, after the first night of the Democratic National Convention.
Speaker 2: In a speech that lasted well into the night, President
Speaker 2: Biden made a case for his legacy and for his
Speaker 2: Vice President Kamala Harris to carry it forward.
Speaker 3: I spend the honor of my lifetime the servers or President.
Speaker 3: I love the job, but I love my country more.
Speaker 2: That was the President delivering the valedictory keynote from the
Speaker 2: United Center last night. Joining us for more. Bloomberg News
Speaker 2: Managing Editor Derek Wallbank, Derek, good morning. Far from the
Speaker 2: speech President Biden planned to give just over right around
Speaker 2: a month ago, but deliver it he did.
Speaker 8: Good morning, good morning.
Speaker 15: Yes, well, time's changed, and we changed with them, don't we.
Speaker 15: And indeed that was the case for Joe Biden, not
Speaker 15: the speech he had planned to give, but the speech
Speaker 15: that he went with. You can actually see a little bit, Nathan.
Speaker 15: I think that echoes of the speech that he may
Speaker 15: may have wanted to give because it served a lot
Speaker 15: of purposes for Biden. It was a validatory one for him.
Speaker 15: It was wondering where he tried to talk about his legacy,
Speaker 15: and at the same time there was a pivot somewhere
Speaker 15: in there to where he started talking about Kamala Harris.
Speaker 15: At one point he described picking her as the best
Speaker 15: political decision he'd ever made.
Speaker 2: Did you hear any distinctions in terms of the direction
Speaker 2: that Kamala Harris could take Biden policy over the next
Speaker 2: four years?
Speaker 15: You know, Nathan, on day one, I would say I wouldn't.
Speaker 15: I wouldn't say I heard a massive difference here. You know,
Speaker 15: you did hear a couple of flicks from some speakers
Speaker 15: toward the same situation in Gaza, maybe in a in
Speaker 15: a way that's a little bit differently from how President
Speaker 15: Biden has been talking about it. But I will say
Speaker 15: I think in terms of tone this was very different.
Speaker 15: There there has been something I'm not This is not
Speaker 15: my I don't know the first person to notice this,
Speaker 15: but I do think that this version of a Harris
Speaker 15: led Democratic Party is certainly more aggressive than it was
Speaker 15: under Biden and under his predecessors, the sort of Michelle
Speaker 15: Obama line that she always that she said, you know,
Speaker 15: when they go low, we go high, and people take
Speaker 15: that to me, and we're going to go high all
Speaker 15: the time. You know, this is this is much more
Speaker 15: of a Democratic party that's a little bit more willing
Speaker 15: to be combative. It's more willing to sort of weigh
Speaker 15: in and ride in the culture. It's it's it's it's
Speaker 15: much more i would say aggressive in terms of putting
Speaker 15: its points out and kind of challenging the other side,
Speaker 15: not wanting to get into that sort of trap of
Speaker 15: talking about things in the way that Republicans like to
Speaker 15: talk about things. And I think all of that is
Speaker 15: changing this election in a way that the discussion is simple,
Speaker 15: is simply changing. And I think this is something that
Speaker 15: the Trump campaign so far is still trying to come
Speaker 15: to terms with how to address, even as they've seen
Speaker 15: their standing in the polls decline relative to Harris.
Speaker 2: In terms of that more aggressive ton, I wonder if
Speaker 2: you're alluding to what we heard from Congress Foman Alexandria
Speaker 2: Cassio Cortes last night, in particular regarding pushing for a
Speaker 2: ceasefire and an end to the war in Gaza. Could
Speaker 2: the Gaza war be something of a wedge point for
Speaker 2: Democrats as they try to put out this unified stance
Speaker 2: for Vice President Harris.
Speaker 15: Well, I do think that it's a difficulty that Democrats
Speaker 15: have almost against themselves. Nathan Right, It's hard to think
Speaker 15: of someone who's animating issue is the Palestinian side of
Speaker 15: the conflict in Gaza, as being someone who's a conflicted
Speaker 15: Harris Trump voter. Certainly, Trump has been far more aggressive
Speaker 15: and talking about what he would like to do in
Speaker 15: that situation, and has been far more condemning of that
Speaker 15: position in the protesters thereof Right. At the same point, though,
Speaker 15: Harris needs all those votes, and if I'm thinking of
Speaker 15: a place like Michigan with a very very large Arabic
Speaker 15: expat immigrant population right one and two generations removed, that
Speaker 15: is a place where all those votes really will make
Speaker 15: a difference. And that's a thing where you know, Harris
Speaker 15: and Tim Walls will need to figure out a way
Speaker 15: to make sure that those voters, however much they may
Speaker 15: be holding their nose, do come out and do vote
Speaker 15: for them. Because if you have a giant pocket of
Speaker 15: votes around Dearborn, that just simply don't come out at all,
Speaker 15: or go to third party candidates instead of Takamala Harris
Speaker 15: Mats in Michigan and states like it starts to get
Speaker 15: very complicated.
Speaker 12: This is Bloomberg Daybreak Today, your morning brief on the
Speaker 12: stories making news from Wall Street to Washington and beyond.
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Speaker 1: on Bloomberg Daybreak