WEBVTT - Biden Speaks at DNC; Israel-Hamas Possible Deal

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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 begin in Chicago. After the first night of

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<v Speaker 2>the Democratic National Convention, President Joe Biden delivered an emotional

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<v Speaker 2>and bitter sweet call for his fellow Democrats to rally

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<v Speaker 2>behind his Vice President, Kamala Harris. The President touted his

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<v Speaker 2>legacy while passing the torch to a new generation of Democrats.

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<v Speaker 3>I spent the honor of my lifetime the servers or President.

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<v Speaker 3>I love the job, but I love my country more.

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<v Speaker 2>President Biden also pleaded with voters to keep fighting what

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<v Speaker 2>he called the dangerous ideas of Donald Trump. He said,

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<v Speaker 2>the Republican nominee is a threat to democracy.

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<v Speaker 4>Democracy is prevailed, democracy, democras head delivered, and now democracy

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<v Speaker 4>must be preserved.

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<v Speaker 2>President Biden cast his decision to exit the race as

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<v Speaker 2>the natural conclusion of a five decade political career. The

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<v Speaker 2>president did face intense pressure from Democrats and owners to

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<v Speaker 2>step aside following his disastrous debate performance earlier this summer.

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<v Speaker 1>And Nathan Biden's speech followed a surprise appearance on stage

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<v Speaker 1>from Vice President Kamala Harris, who thanked Biden for his

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<v Speaker 1>service to the country.

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<v Speaker 5>Joe, thank you for your historic leadership, for your lifetime

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<v Speaker 5>of service to our nation, and for all you will

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<v Speaker 5>continue to do. We are forever grateful to you.

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<v Speaker 1>Vice President Harris also called Joe Biden an incredible President.

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<v Speaker 1>Biden said choosing Harris as his running mate was the

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<v Speaker 1>best decision of his whole political career and.

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<v Speaker 2>Karen former Secretary of State, Hillary Clinton, spoke last night

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<v Speaker 2>as well. She is the only woman, aside from Harris,

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<v Speaker 2>to lead a major presidential party ticket, and Clinton called

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<v Speaker 2>on Democrats to help Harris break through the glass ceiling.

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<v Speaker 3>She will be a fighter for us.

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<v Speaker 6>She will fight to lower costs for hardworking families, open

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<v Speaker 6>the doors why for good paying jobs, and yes, she

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<v Speaker 6>will restore abortion rights nationwide.

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<v Speaker 2>Hillary Clinton also thanked President Biden, saying he brought dignity, decency,

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<v Speaker 2>and confidence back to the White House.

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<v Speaker 1>Well Nathan Donald Trump is downplaying recent criticism that he's

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<v Speaker 1>undercutting the Fed's autonomy with statements about policy, and Bloomberg's

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<v Speaker 1>Ed Baxter has that story.

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<v Speaker 7>Trump says he thinks it's fine for a president to talk.

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<v Speaker 7>He says it doesn't mean they have to listen. In

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<v Speaker 7>an interview with Bloomberg, Trump says he job owned over

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<v Speaker 7>interest rates with FED chair Jerome Powell. He also says, quote,

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<v Speaker 7>a president certainly can be talking about interest rates because

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<v Speaker 7>I think I have very good instincts. That doesn't mean

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<v Speaker 7>I'm calling the shot, but it does mean I have

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<v Speaker 7>the right to be able to talk about it like

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<v Speaker 7>anybody else. Hi mortgage rates have become a campaign issue,

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<v Speaker 7>with Vice Kamala Harris on veiling her plan to make

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<v Speaker 7>housing more affordable last week at Backshirt Bloomberg Radio, all.

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<v Speaker 8>Right and thank you.

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<v Speaker 2>US intelligence agencies are speaking about the Trump campaign, saying

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<v Speaker 2>they're confident Iran is behind a recent hack of the operation.

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<v Speaker 2>Investigators think the attackers gained access to internal documents relating

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<v Speaker 2>to the former president. They say they also tried to

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<v Speaker 2>hack the Democratic Party, but it's unclear whether that succeeded.

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<v Speaker 1>Now Nathan to the latest on the Israel Hamas war.

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<v Speaker 1>After his DNC speech, President Biden said he remains hopeful

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<v Speaker 1>about a ceasefire deal.

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<v Speaker 3>It's still a pleasure, but.

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<v Speaker 8>You can't predict for this joy so far.

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<v Speaker 3>Isnel says they can work about as they prepared, but

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<v Speaker 3>I was gold I'm off with now back on all,

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<v Speaker 3>but it makes me see he's going to keep pushing.

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<v Speaker 1>And the President and spoke with reporters before leaving Chicago. No.

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<v Speaker 2>Secretary of State Antony Blincoln is in the Middle East, Karen.

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<v Speaker 2>He says Israel has accepted a ceasefire proposal and now

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<v Speaker 2>he's pressuring Hamas to do the same.

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<v Speaker 9>The fierce urgency of now, that's what I think we're

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<v Speaker 9>all feeling. And we do see this as the best

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<v Speaker 9>opportunity to finally get this over the finish line.

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<v Speaker 7>We'll never give up on it.

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<v Speaker 9>But the challenges the longer this goes on, the more

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<v Speaker 9>hostages will suffer and possibly perish, and the more other

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<v Speaker 9>things happen that could make things impossible.

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<v Speaker 2>Secretary of State Blinken will travel next from Israel to

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<v Speaker 2>Egypt and Katar to meet with leaders there about next steps.

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<v Speaker 2>Iran and hez Bellah have vowed to retaliate against Israel

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<v Speaker 2>for recent assassinations they say it committed, and.

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<v Speaker 1>Overnight Nathan Israel said it recovered the bodies of six

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<v Speaker 1>male hostages and an operation around the city of khanyunis

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<v Speaker 1>Israeli Prime Minister Benjamin Etanyel, who's said his country will

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<v Speaker 1>make every effort to return all hostages, both the living

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<v Speaker 1>and dead. Of the remaining Hamas Davis, at least forty

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<v Speaker 1>are thought to be dead.

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<v Speaker 2>Karen, we would turn now to the latest on a

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<v Speaker 2>deadly incident off the coast of Sicily. Morgan Stanley International

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<v Speaker 2>chairman Jonathan Bloomer is among those now confirmed missing after

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<v Speaker 2>a yacht sank and a violent storm, along with British

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<v Speaker 2>tech entrepreneur Mike Lynch and his family members. The Italian

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<v Speaker 2>Coast Guard is leading search operations and has confirmed one

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<v Speaker 2>person has died. Italian journalist Angela Correas explains how the

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<v Speaker 2>vessel got in trouble.

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<v Speaker 10>According to the eyewitnesses, the sailed boat was moored and

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<v Speaker 10>also not far from the port, so it wouldn't.

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<v Speaker 3>Have taken him long to go to the port.

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<v Speaker 10>Just probably they were caught suddenly by a wind a tornado,

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<v Speaker 10>and this is why the boat come sized.

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<v Speaker 2>Italian journalist Angela Corea says Mike Lynch had recently been

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<v Speaker 2>found not guilty in San Francisco over accusations he committed

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<v Speaker 2>Silicon Valley's biggest ever fraud during the eleven billion dollars

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<v Speaker 2>sale of his company to Hewlett Packard in twenty eleven.

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<v Speaker 1>Well, Nathan, we want to turn to the markets now,

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<v Speaker 1>and stocks pushed higher yes yesterday, adding to a rally

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<v Speaker 1>that's already top three trillion dollars from this month's lows,

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<v Speaker 1>I mean bests. The Fed will signal it's ready to

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<v Speaker 1>start cutting interest rates. The S and P five hundred

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<v Speaker 1>has advanced for eight straight days, its longest winning streak

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<v Speaker 1>of the year. Wall Street is looking ahead to Friday's

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<v Speaker 1>Jackson Hole speech from the FED Chair J Powell and

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<v Speaker 1>Nadia Lovell, as senior strategist at UBS Financial Services, we

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<v Speaker 1>want to hear from.

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<v Speaker 5>Chair and Powell and how he's interpreting the data and

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<v Speaker 5>whether will start to get some smoke signals on the

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<v Speaker 5>potential rate cut in September. Certainly, some of the committee

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<v Speaker 5>members have been coming out and some of the governors

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<v Speaker 5>have been coming out suggesting that we could start to

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<v Speaker 5>see the cutting cycle in September, which we do believe

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<v Speaker 5>will start.

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<v Speaker 1>Nadia level of UBS says, the August jobs report is

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<v Speaker 1>the next big data point for the FED, and it's

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<v Speaker 1>time now for a look at some of the other

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<v Speaker 1>stories making news in New York and around the world.

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<v Speaker 1>For that, we're joined by Bloomberg's Denise Pella Greeney. Good morning, Denise,

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<v Speaker 1>Good morning to you.

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<v Speaker 11>New York Congresswoman Alexandria Okaziokot delivering a blistering speech at

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<v Speaker 11>the Democratic National Convention in Chicago, talking about the difference

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<v Speaker 11>between former President Trump and Vice President Kamala Harris and

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<v Speaker 11>I go one and tired of hearing about how a

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<v Speaker 11>two bit.

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<v Speaker 1>Union buster thinks of himself as more of a patriot

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<v Speaker 1>than the woman who fights every.

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<v Speaker 11>Single day and AOC also saying Trump would sell the

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<v Speaker 11>country for a dollar if it meant lining his own

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<v Speaker 11>pockets and greasing the palms of Wall Street friends. Disgraced

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<v Speaker 11>former New York Congressman George Santos, pleading guilty to wire

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<v Speaker 11>fraud and identity theft charges and also admitting to other

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<v Speaker 11>crimes as part of the terms of a plea agreement

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<v Speaker 11>with prosecutors.

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<v Speaker 12>Discarded me now that tile oud ambission.

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<v Speaker 2>It's a cloud my judgment leading me to make decisions

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<v Speaker 2>that were unethical.

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<v Speaker 11>And Santos to reporters outside the Long Island Courthouse after

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<v Speaker 11>entering his plea. He faces at least two years in

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<v Speaker 11>prison and must pay more than a half million dollars

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<v Speaker 11>in restitution and forfeitures.

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<v Speaker 7>Robert F.

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<v Speaker 11>Kennedy Junior expected to appear in court today in his

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<v Speaker 11>fight to get on the ballot for president in the

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<v Speaker 11>battleground state of Pennsylvania. Democrats angling to force him off

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<v Speaker 11>in what is expected to be a closely contested race.

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<v Speaker 11>More from Bloomberg' Jeff Bellinger.

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<v Speaker 10>Democratic Party aligned challengers say Kennedy's candidacy paperwork states a

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<v Speaker 10>false home address, but Kennedy's campaign has dismissed the legal

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<v Speaker 10>challenge as frivolous. Kennedy is also appealing a judge's decision

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<v Speaker 10>in New York last week that rejected his nominating petitions

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<v Speaker 10>because his listed address was a quote sham address. Pennsylvania

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<v Speaker 10>has nineteen electoral votes, tied with Illinois for the fifth most.

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<v Speaker 10>Jeff Bellinger Bloomberg Radio.

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<v Speaker 11>And Connecticut Governor Ned Lamont has declared a state of

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<v Speaker 11>emergency in his state. That's after Moore rain yesterday. Following

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<v Speaker 11>those flash floods and landslides in the state and other

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<v Speaker 11>part of the northeast Sunday, several people killed in the

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<v Speaker 11>Connecticut storm. Global news twenty four hours a day and

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<v Speaker 11>whatever you want it Withburg News.

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<v Speaker 1>Now.

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<v Speaker 11>I'm Denise Pelligriny. This is Bloomberg.

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<v Speaker 1>All right, Denise, thank you. It's time now for the

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<v Speaker 1>Bloomberg Sports Update with John stash Hour, John Gon Morning.

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<v Speaker 13>Good morning, Garen, Mets and Orioles at Cityfield. Met get

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<v Speaker 13>a two run first ending homer from J. D. Martinez.

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<v Speaker 13>Gordigan in the fourth didn't score or even have another

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<v Speaker 13>hit until the bottom of the ninth with the game

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<v Speaker 13>tie the three the three.

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<v Speaker 4>Ohs one on fifty to left center.

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<v Speaker 3>This might do it.

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<v Speaker 1>Back here the wall it is John put up the Bucks.

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<v Speaker 3>Francisco Alvarez were a towering game, wedning.

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<v Speaker 13>Hold Rod wc Mes themes despite striking and half fourteen times,

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<v Speaker 13>beat Baltimore four to three. And they also got good

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<v Speaker 13>news on Brandon Neimo Mri and his shoulder came back

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<v Speaker 13>clean that we didn't play last night's day to day

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<v Speaker 13>Yankees in the AL Central leading Cleveland Guardians tonight at

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<v Speaker 13>the Stadium. The Yanks in their last thirty home games

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<v Speaker 13>just eleven and nineteen. AL West leading half Stros made

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<v Speaker 13>it eleven to last twelve. They beat the Red Sox

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<v Speaker 13>five to four Astros also for the walk off home

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<v Speaker 13>run bottom of the ninth. As expected, the Washington Commanders

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<v Speaker 13>named rookie Jayden Daniels their Week one starting quarterback, which

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<v Speaker 13>means Washington over the last eight seasons has had eight

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<v Speaker 13>different Week one starting qbs. In New England, the feeling

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<v Speaker 13>was the Patriots would use veteran Jacoby Prissett to begin

0:10:21.800 --> 0:10:25.079
<v Speaker 13>the season, not rookie Drake May. Now new coach Gerrod

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<v Speaker 13>Mayo not ruling out using May at the start. As

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<v Speaker 13>for Giants starting QB, Daniel Jones had that miserable first

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<v Speaker 13>quarter in Houston this past Saturday, two interceptions, including a

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<v Speaker 13>gift rap pick six. His coach is Brian dave Ball.

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<v Speaker 14>I thought he made a lot of good decisions as

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<v Speaker 14>the game went on, made some nice rows and guys

0:10:44.200 --> 0:10:47.240
<v Speaker 14>created some separation a couple drops, but you know, first

0:10:47.320 --> 0:10:51.800
<v Speaker 14>time out there after a long layoff live ball, that

0:10:51.960 --> 0:10:52.520
<v Speaker 14>was good for him.

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<v Speaker 13>Preseason finale Saturday Night Life against the Jets. Couple of

0:10:55.880 --> 0:10:59.200
<v Speaker 13>tennis finals in Cincinnati ONIX Center be Francis Tiafo, Arena

0:10:59.280 --> 0:11:02.440
<v Speaker 13>Sablenko over Jess Pagoula. Up next to the US Open

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<v Speaker 13>starting Monday. John Stashedward Bloomberg Sports Careen Nathan.

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<v Speaker 8>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 8>and around the world on Bloomberg dot Com and the

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<v Speaker 8>Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

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<v Speaker 8>Nathan Hager.

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<v Speaker 2>This morning, after the first night of the Democratic National Convention.

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<v Speaker 2>In a speech that lasted well into the night, President

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<v Speaker 2>Biden made a case for his legacy and for his

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<v Speaker 2>Vice President Kamala Harris to carry it forward.

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<v Speaker 3>I spend the honor of my lifetime the servers or President.

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<v Speaker 3>I love the job, but I love my country more.

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<v Speaker 2>That was the President delivering the valedictory keynote from the

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<v Speaker 2>United Center last night. Joining us for more. Bloomberg News

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<v Speaker 2>Managing Editor Derek Wallbank, Derek, good morning. Far from the

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<v Speaker 2>speech President Biden planned to give just over right around

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<v Speaker 2>a month ago, but deliver it he did.

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<v Speaker 8>Good morning, good morning.

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<v Speaker 15>Yes, well, time's changed, and we changed with them, don't we.

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<v Speaker 15>And indeed that was the case for Joe Biden, not

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<v Speaker 15>the speech he had planned to give, but the speech

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<v Speaker 15>that he went with. You can actually see a little bit, Nathan.

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<v Speaker 15>I think that echoes of the speech that he may

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<v Speaker 15>may have wanted to give because it served a lot

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<v Speaker 15>of purposes for Biden. It was a validatory one for him.

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<v Speaker 15>It was wondering where he tried to talk about his legacy,

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<v Speaker 15>and at the same time there was a pivot somewhere

0:12:26.800 --> 0:12:30.439
<v Speaker 15>in there to where he started talking about Kamala Harris.

0:12:30.480 --> 0:12:33.280
<v Speaker 15>At one point he described picking her as the best

0:12:33.400 --> 0:12:35.240
<v Speaker 15>political decision he'd ever made.

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<v Speaker 2>Did you hear any distinctions in terms of the direction

0:12:40.800 --> 0:12:45.800
<v Speaker 2>that Kamala Harris could take Biden policy over the next

0:12:45.840 --> 0:12:46.360
<v Speaker 2>four years?

0:12:47.120 --> 0:12:50.800
<v Speaker 15>You know, Nathan, on day one, I would say I wouldn't.

0:12:51.160 --> 0:12:54.719
<v Speaker 15>I wouldn't say I heard a massive difference here. You know,

0:12:54.840 --> 0:12:57.960
<v Speaker 15>you did hear a couple of flicks from some speakers

0:12:58.640 --> 0:13:02.120
<v Speaker 15>toward the same situation in Gaza, maybe in a in

0:13:02.200 --> 0:13:05.199
<v Speaker 15>a way that's a little bit differently from how President

0:13:05.240 --> 0:13:07.480
<v Speaker 15>Biden has been talking about it. But I will say

0:13:07.520 --> 0:13:10.000
<v Speaker 15>I think in terms of tone this was very different.

0:13:10.320 --> 0:13:12.719
<v Speaker 15>There there has been something I'm not This is not

0:13:12.880 --> 0:13:14.800
<v Speaker 15>my I don't know the first person to notice this,

0:13:15.000 --> 0:13:17.960
<v Speaker 15>but I do think that this version of a Harris

0:13:18.080 --> 0:13:22.280
<v Speaker 15>led Democratic Party is certainly more aggressive than it was

0:13:23.000 --> 0:13:27.800
<v Speaker 15>under Biden and under his predecessors, the sort of Michelle

0:13:27.840 --> 0:13:31.640
<v Speaker 15>Obama line that she always that she said, you know,

0:13:31.679 --> 0:13:34.040
<v Speaker 15>when they go low, we go high, and people take

0:13:34.080 --> 0:13:35.280
<v Speaker 15>that to me, and we're going to go high all

0:13:35.320 --> 0:13:38.000
<v Speaker 15>the time. You know, this is this is much more

0:13:38.000 --> 0:13:40.439
<v Speaker 15>of a Democratic party that's a little bit more willing

0:13:40.520 --> 0:13:43.400
<v Speaker 15>to be combative. It's more willing to sort of weigh

0:13:43.440 --> 0:13:48.120
<v Speaker 15>in and ride in the culture. It's it's it's it's

0:13:48.600 --> 0:13:51.560
<v Speaker 15>much more i would say aggressive in terms of putting

0:13:51.600 --> 0:13:56.600
<v Speaker 15>its points out and kind of challenging the other side,

0:13:56.760 --> 0:13:59.079
<v Speaker 15>not wanting to get into that sort of trap of

0:13:59.200 --> 0:14:01.559
<v Speaker 15>talking about things in the way that Republicans like to

0:14:01.600 --> 0:14:04.160
<v Speaker 15>talk about things. And I think all of that is

0:14:04.640 --> 0:14:08.120
<v Speaker 15>changing this election in a way that the discussion is simple,

0:14:08.559 --> 0:14:10.800
<v Speaker 15>is simply changing. And I think this is something that

0:14:10.840 --> 0:14:13.559
<v Speaker 15>the Trump campaign so far is still trying to come

0:14:13.600 --> 0:14:17.160
<v Speaker 15>to terms with how to address, even as they've seen

0:14:17.200 --> 0:14:20.480
<v Speaker 15>their standing in the polls decline relative to Harris.

0:14:20.960 --> 0:14:23.280
<v Speaker 2>In terms of that more aggressive ton, I wonder if

0:14:23.280 --> 0:14:26.200
<v Speaker 2>you're alluding to what we heard from Congress Foman Alexandria

0:14:26.280 --> 0:14:30.920
<v Speaker 2>Cassio Cortes last night, in particular regarding pushing for a

0:14:31.200 --> 0:14:34.000
<v Speaker 2>ceasefire and an end to the war in Gaza. Could

0:14:34.080 --> 0:14:37.520
<v Speaker 2>the Gaza war be something of a wedge point for

0:14:37.880 --> 0:14:41.360
<v Speaker 2>Democrats as they try to put out this unified stance

0:14:41.480 --> 0:14:43.040
<v Speaker 2>for Vice President Harris.

0:14:43.440 --> 0:14:46.080
<v Speaker 15>Well, I do think that it's a difficulty that Democrats

0:14:46.200 --> 0:14:50.240
<v Speaker 15>have almost against themselves. Nathan Right, It's hard to think

0:14:50.320 --> 0:14:56.160
<v Speaker 15>of someone who's animating issue is the Palestinian side of

0:14:56.320 --> 0:14:59.480
<v Speaker 15>the conflict in Gaza, as being someone who's a conflicted

0:14:59.520 --> 0:15:04.200
<v Speaker 15>Harris Trump voter. Certainly, Trump has been far more aggressive

0:15:04.240 --> 0:15:05.960
<v Speaker 15>and talking about what he would like to do in

0:15:06.040 --> 0:15:10.720
<v Speaker 15>that situation, and has been far more condemning of that

0:15:11.160 --> 0:15:15.400
<v Speaker 15>position in the protesters thereof Right. At the same point, though,

0:15:15.520 --> 0:15:17.640
<v Speaker 15>Harris needs all those votes, and if I'm thinking of

0:15:17.720 --> 0:15:22.680
<v Speaker 15>a place like Michigan with a very very large Arabic

0:15:24.280 --> 0:15:29.960
<v Speaker 15>expat immigrant population right one and two generations removed, that

0:15:30.320 --> 0:15:33.240
<v Speaker 15>is a place where all those votes really will make

0:15:33.280 --> 0:15:38.160
<v Speaker 15>a difference. And that's a thing where you know, Harris

0:15:38.320 --> 0:15:41.200
<v Speaker 15>and Tim Walls will need to figure out a way

0:15:41.360 --> 0:15:45.360
<v Speaker 15>to make sure that those voters, however much they may

0:15:45.440 --> 0:15:48.920
<v Speaker 15>be holding their nose, do come out and do vote

0:15:48.960 --> 0:15:51.640
<v Speaker 15>for them. Because if you have a giant pocket of

0:15:51.800 --> 0:15:56.200
<v Speaker 15>votes around Dearborn, that just simply don't come out at all,

0:15:56.480 --> 0:15:59.480
<v Speaker 15>or go to third party candidates instead of Takamala Harris

0:16:00.120 --> 0:16:02.800
<v Speaker 15>Mats in Michigan and states like it starts to get

0:16:02.920 --> 0:16:03.680
<v Speaker 15>very complicated.

0:16:05.040 --> 0:16:08.080
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