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, let's begin with the latest from the presidential campaign trail.
Speaker 2: There are just two weeks left until the election, and
Speaker 2: both Donald Trump and Kamala Harris are fanning out across
Speaker 2: the battleground states. Former President Trump visited Asheville, North Carolina,
Speaker 2: and continued to make unsubstantiated claims about the federal response
Speaker 2: to Hurricane Helene.
Speaker 3: They don't have any money for the people that live here.
Speaker 4: They got hit by one of the worst storms, possibly
Speaker 4: the worst storm ever, but one of the worst storms
Speaker 4: in the history of our country.
Speaker 5: And it's a shame.
Speaker 2: Donald Trump's claims run countered word from North Carolina Governor
Speaker 2: Roy Cooper that FEMA has given one hundred and twenty
Speaker 2: nine million dollars to Helene victims and placed more than
Speaker 2: sixty two hundred people in temporary housing.
Speaker 6: Meanwhile, Nathan Vice President Harris visited the Midwestern blue wall
Speaker 6: state of Pennsylvania, Michigan, and Wisconsin. She criticized the former
Speaker 6: president over a new report on his economic proposals from
Speaker 6: the nonpartisan Committee for a Responsible Federal Budget.
Speaker 7: There are many seniors in our country that social security
Speaker 7: is their only form of income, and now an independent
Speaker 7: agency has reviewed Donald Trump's theory about social security and
Speaker 7: his policies and has indicated that his policy would actually
Speaker 7: render the Social Security Fund empty essentially in six years.
Speaker 6: Kamala Harris also took Trump to task for a side
Speaker 6: stepping a question about raising the minimum wage during his
Speaker 6: weekend campaign stop at a McDonald's. Today, early voting begins
Speaker 6: in Wisconsin. Former President Barack Obama will join a Democratic
Speaker 6: running mate, Tim Waltz at a rally in Madison, while
Speaker 6: Republicans will hold their own events, encouraging voters to cast
Speaker 6: an early ballot for Donald Trump.
Speaker 2: Now, Karen, let's turn to the latest from the Middle East.
Speaker 2: Secretary of State Anthony Blincoln has arrived in Israel. He
Speaker 2: is scheduled to meet later today with Prime Minister Benjamin
Speaker 2: Netanyahu in Jerusalem and Defense Minister Joev Galant in Tel Aviv.
Speaker 2: It's Blncoln's eleventh trip to the Middle East since the
Speaker 2: October seventh attack. America's top diplomat's been trying to engineer
Speaker 2: a ceasefire between Israel and Iran backed militias since the
Speaker 2: attack more than a year ago. Bloomberg's Paul Wallace says
Speaker 2: this round of talks is unlikely to change things.
Speaker 8: Israel at the moment sees itself as on the front
Speaker 8: foot and degrading Hamas and Hezwella to a massive degree.
Speaker 8: And it thinks that these military gains that it's been
Speaker 8: making in the last several weeks, if not a few months,
Speaker 8: are very much in its favor when it comes to
Speaker 8: eventual diplomatic talks and eventual ceasefire negotiations.
Speaker 2: Bloomberg's Paul Wallace ads Secretary Blincoln's visit comes as Israel's
Speaker 2: retaliation against Iran is still yet to come. The US
Speaker 2: maintains Israel's killing of Hamas leader Yaikiya sin War last
Speaker 2: week could open the way for a breakthrough, even though
Speaker 2: Hamas leaders and Netanyah, who have both vowed to fight on.
Speaker 6: Well, let's turn to the markets now, Nathan and bonds
Speaker 6: have been selling off, and that's pushing yields higher and higher.
Speaker 6: Bloomberg John Tucker joins us with more, John, good morning,
Speaker 6: and what's behind the move?
Speaker 4: Well?
Speaker 9: Current the market no longer sure the Fed's going to
Speaker 9: cut rates in each of the next three FOMC meetings.
Speaker 9: Strong employment data for September that whittled away the expectations.
Speaker 9: Traders are positioning for a likelihood that there's going to
Speaker 9: be at least one meeting when the FED stays on hold.
Speaker 9: At your Denny Is with your Denny Research, we.
Speaker 10: Have some FED officials already kind of walking back the
Speaker 10: idea that there's going to be a fifty basis point
Speaker 10: cut at the November meeting, or even walking back the
Speaker 10: idea that we necessarily will have two twenty five basis
Speaker 10: point cuts.
Speaker 9: As for FED officials, Jeffrey Schmidt, president of the Kansas
Speaker 9: City FED, said he favored a cautious and gradual approach.
Speaker 9: Neil kesh Curry the Minneapolis FED, said he would need
Speaker 9: real evidence the labor market is weakening quickly before he'd
Speaker 9: moved from a cautious path. The prospect of bigger fiscal
Speaker 9: deficit after elections next month only compounding the market's concerns.
Speaker 9: You see the ten year yield rising back of a
Speaker 9: four point two percent for the first time since July.
Speaker 5: In New York.
Speaker 9: I'm John Tucker, Bloomberg Radio.
Speaker 2: Thanks John, It's another busy day for earnings, with nearly
Speaker 2: thirty companies reporting, including GM. Let's get a preview from
Speaker 2: Bloomberg's Tom Busby.
Speaker 11: General Motors expected to report reduce losses from its electric
Speaker 11: vehicle lineup, and even though vehicle sales in the third
Speaker 11: quarter were down, prices were kept higher as even though
Speaker 11: some competitors offered more discounts ad in the benefits it
Speaker 11: likely got from its recent stock buyback plans, and that
Speaker 11: should all give GM a boost. Investors will also be
Speaker 11: watching for any improvements and outlook for its operations in China,
Speaker 11: which has lost money the past two quarters. Bloomberg consensus
Speaker 11: calls for revenues of forty four point sixty nine billion
Speaker 11: dollars and adjusted earnings per share two dollars and forty
Speaker 11: five cents.
Speaker 9: Tom Busby Bloomberg.
Speaker 6: Radio, All right, Tom, thank you all. Shares of SAP
Speaker 6: up about five percent overseas cloud revenue swored at Europe's
Speaker 6: biggest software company, SAP is transitioning customers away from locally
Speaker 6: run systems with the promise of artificial intelligence tools and analytics.
Speaker 5: Well Karen.
Speaker 2: One of Europe's biggest banks, HSBC, has begun its biggest
Speaker 2: restructuring in a decade. Let's go to London and get
Speaker 2: the latest with Bloomberg's Ewan Pots, Ewan.
Speaker 12: Nathan and Karen. One of the world's biggest banks is
Speaker 12: reshaping its global structure. HSBC will combine its commercial and
Speaker 12: institutional banking operations, and it's creating a new international wealth
Speaker 12: and premiere banking business. It's all part of a plan
Speaker 12: by the London based lenders new CEO to cut costs
Speaker 12: and reduce complexity. HSBC has also named a new CFO,
Speaker 12: its first female finance director in its one hundred and
Speaker 12: fifty nine year history in London. I'm Une Pots Bloomberg.
Speaker 6: Radio, all right you in thank you Well. Here in
Speaker 6: the US, banks will now have to give customers access
Speaker 6: to their financial data after the top consumer watchdog finalized
Speaker 6: a long awaited rule aimed at fueling more competition for
Speaker 6: financial products. Under the Consumer Financial Protection Bureau measure, consumers
Speaker 6: will be able to demand, download, and transfer their highly
Speaker 6: coveted data to another lender or financial services provider for free.
Speaker 6: The Open Banking Rule, as it's known, is aimed at
Speaker 6: making it easier for consumers to switch providers to access
Speaker 6: better rates. Time Now for a look at some of
Speaker 6: the other stories making news in New York and around
Speaker 6: the world, and for that we're joined by Blowberg's Michael
Speaker 6: Barr Michael, Good Morning.
Speaker 5: Good Morning, Karen. More support for a new trial and
Speaker 5: a death row case in Texas. Supporters of Robert Robertson
Speaker 5: insists that his two thousand and three conviction and the
Speaker 5: killing of his two year old daughter was based on
Speaker 5: the now discredited shaken baby syndrome theory. State Representative Lacy
Speaker 5: Hull test five before state lawmakers. She is backing a
Speaker 5: new trial for Robertson.
Speaker 13: Let the jury make up their mind, but he deserves
Speaker 13: a real defense and a fair trial.
Speaker 5: Robertson has high profile support, including psychologist Phil McGraw that
Speaker 5: are known as Doctor Phil.
Speaker 13: If we start executing people in Texas absent due process,
Speaker 13: absent fair trial, we are going down a really dangerous roague.
Speaker 5: Also among Doctor Phil supporting Robertson, author John Grisham, A
Speaker 5: powerful new drug is making headlines in the US. An
Speaker 5: autopsy has revealed former One Direction singer Liam Payne had
Speaker 5: multiple drugs in his system, including pink cocaine, when he
Speaker 5: plunged off a balcony in Argentina last week, dying at
Speaker 5: the age of thirty one. The drug has also been
Speaker 5: linked to rappers Sean Diddy Combs. Despite its name, there
Speaker 5: is often no cocaine in the mix of drugs, which
Speaker 5: acts as both a stimulant and depressant. Former DEA official
Speaker 5: Bill Bodner, it's.
Speaker 11: Been in the United States for a little while now,
Speaker 11: not it hasn't been as popular as it's becoming now.
Speaker 5: Public health officials are warning parents the designer drug with
Speaker 5: the it's bright color is growing in popularity among teens
Speaker 5: and young adults. Cuba's capital remains paralyzed, as the island
Speaker 5: had a fourth night of a massive blackout that has
Speaker 5: generated both a handful of small protests and a stern
Speaker 5: government warning that any unarrest will be punished. Meanwhile, Hurricane
Speaker 5: Oscar crossed the island's eastern coast with winds and heavy
Speaker 5: rain Sunday night, leaving at least six dead. Filmmaker Steven
Speaker 5: Spielberg is among twenty recipients of the National Medals of Arts.
Speaker 5: President Biden also honored nineteen recipients of National Humanities Medals,
Speaker 5: including playwright screenwriter Aaron Sorkin. After presenting the medals. The
Speaker 5: President had a message to the recipients.
Speaker 13: With absolute courage, you combat racial stereotypes, confront ghosts of history,
Speaker 13: and speak truth to power.
Speaker 5: Filmmakers Spike Lee and Ken Burns, and singers Missy Elliott
Speaker 5: and Queen Latifah were also honored with Medals of Art
Speaker 5: at the White House. Global News twenty four hours a
Speaker 5: day and whenever you want it with Bloomberg News Now.
Speaker 5: I'm Michael Barr, and this is Bloomberg.
Speaker 3: Karen.
Speaker 6: All right, Michael Barr, thank you time now for the
Speaker 6: Bloomberg scores. Up date Broncky you by trying state OUTI
Speaker 6: here's John Stanshawer, John.
Speaker 3: Good morning, Good morning, Karen.
Speaker 4: The NBA season tips off tonight in Boston Celtics and Knicks.
Speaker 4: Celtics will hoist their eighteenth championship bender. It was one
Speaker 4: of their greatest seasons ever regular in postseason combined, they
Speaker 4: went eighty and twenty one. Vegas as them as the
Speaker 4: favorites to repeat. But the Knicks were good last year
Speaker 4: and figure to be even better with the additions of Karl,
Speaker 4: Anthony Towns and Michel Bridges. The undeniable leader of the
Speaker 4: next is Jalen Brunson coach Tump Tibeau had never before.
Speaker 3: Named a team captain that he has with Brunson.
Speaker 13: Jalen's not one of those guys. It's gonna get up
Speaker 13: in front of the team and say you gotta do this,
Speaker 13: you gotta do that. But you know, Bubba buh. What
Speaker 13: you're gonna see from Jalen is him coming in early
Speaker 13: every day, went through his routine, great concentration, great work
Speaker 13: at the team, oriented all about his teammates. To me,
Speaker 13: there's no better leadership than that.
Speaker 4: One of the game tonight, that's Minnesota taking on the
Speaker 4: Lakers Lebron James starting his twenty second NBA season. New
Speaker 4: Lakers coach JJ Reddick hasn't said whether Lebron's son, Bronni,
Speaker 4: will join him on the court. If he does, it's
Speaker 4: NBA history. It's only happened once in baseball nineteen ninety
Speaker 4: in Seattle, Ken Griffy senior and junior played together.
Speaker 3: The Griffies will be at the game tonight in La Baltimore.
Speaker 4: Ravens with their fifth straight win, led by Lamar Jackson
Speaker 4: making a case for another MVP through five touchdown passes
Speaker 4: in a forty one thirty one win at Tampa Bay
Speaker 4: Derrick Henry Rush for one hundred and sixty nine yards
Speaker 4: James Conner one hundred and fifty two all purpose yards
Speaker 4: Arizona on the last second field goal top the LA
Speaker 4: Chargers seventeen fifteen. Injury news inclod a couple of season
Speaker 4: enders Browns QB DeShawn Watson, who was not having a
Speaker 4: good season, now out ruptured Achilles forty nine ers white out,
Speaker 4: Brandon Eye torn acl The ribbage suffered by Washington star
Speaker 4: rookie QB Jane Daniels may keep him out this week,
Speaker 4: but it's not long term. Aaron Boone confirmed the obvious
Speaker 4: Garrett Cole will start Game one of the World Series
Speaker 4: for the Yankees Friday in Los Angeles.
Speaker 3: John Stashanmwer Bloomberg Sports Care.
Speaker 14: Navan Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 14: and around the world on Bloomberg dot Com and the
Speaker 14: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 14: Nathan Hager.
Speaker 2: With two weeks left until the election, Donald Trump and
Speaker 2: Kamala Harris are both scouring the battleground states for every
Speaker 2: last swing vote they can find.
Speaker 3: In our movement.
Speaker 10: We love Christians, we welcome believers, and we embrace followers
Speaker 10: of Jesus.
Speaker 7: You know, every election we said this is the one,
Speaker 7: this is the one, This truly is the one.
Speaker 2: And from where I'm where this election stands. We are
Speaker 2: joined now by Bloomberg News Managing Editor Derek Wallbank. Derek,
Speaker 2: good morning. So we've had Donald Trump in North Carolina
Speaker 2: continuing to make unfounded claims about Hurricane aid, while Kamala
Speaker 2: Harris has been slamming Trump's economic plans in the midwestern
Speaker 2: Blue Wall states. Does any of this move the needle?
Speaker 15: Well, Nathan, the question right now is who are these
Speaker 15: people speaking to?
Speaker 5: Right?
Speaker 15: And it's really interesting because as far diverged as Kamala
Speaker 15: Harris and Donald Trump are on any number of things,
Speaker 15: you can actually find some commonalities in who they actually
Speaker 15: are speaking to. I mean, Kamala Harris right now barnstorming
Speaker 15: places like Pennsylvania, Michigan, Wisconsin with with Liz Cheney. That's
Speaker 15: an appeal to those Nicki Haley voters, the people who
Speaker 15: are still voting for Nicki Haley even after she'd lost right,
Speaker 15: and there are many of them in those three states. Now,
Speaker 15: the simple fact of the math is that if Kamala
Speaker 15: Harris wins in Omaha, Nebraska and then goes and wins
Speaker 15: the Blue Wall, she's the president. Right, That's ball game.
Speaker 15: That's literally how numbers work. The thing that Donald Trump
Speaker 15: has though, is he's we're starting to see some of
Speaker 15: these early vote numbers coming in, and in places like
Speaker 15: North Carolina where Trump was, in places like Nevada, you
Speaker 15: are seeing some numbers come in that the Trump team
Speaker 15: is exceptionally happy about.
Speaker 2: Talk a little bit more about that. What are we
Speaker 2: learning when it comes to early voting at this point.
Speaker 15: Well, it's tough, Nathan, right, Remember, because if we're baselining
Speaker 15: off of twenty twenty, we're baselining off of a COVID
Speaker 15: election where Democrats were only too happy to vote almost entirely,
Speaker 15: you know, by mail, and there was such a big,
Speaker 15: big divergence between mail and in person and the likes
Speaker 15: that we really hadn't seen before. Republicans have definitely emphasized
Speaker 15: mail more and early vote more, and both sides are
Speaker 15: trying to bank votes. But we are seeing, certainly, you know,
Speaker 15: in Nevada, we're seeing a bit of an outperformance among
Speaker 15: rural voters we're seeing the vote in Las Vegas. The
Speaker 15: big Democratic bulwark isn't really where it has been in
Speaker 15: prior cycles, certainly relatively. At the same time, if I'm
Speaker 15: looking for good news for Kamala Harris, I'll tell you
Speaker 15: I would find it in some of the gender gaps
Speaker 15: that I'm seeing in some of these early states. You know,
Speaker 15: you're seeing in some of these places in the early
Speaker 15: vote women out voting men by maybe eight to nine
Speaker 15: percentage points, And every single poll that we can see
Speaker 15: is basically saying that there's likely to be an incredibly
Speaker 15: high gender gap here, with women voting far more for
Speaker 15: Harris and men voting far more for Trump. Again, let
Speaker 15: me reduce this. I'm vastly oversimplifying it here, so all
Speaker 15: those disclaimers, but if you just sort of figured that
Speaker 15: there was an even breakout right in terms of women
Speaker 15: for Harris and men for Trump, and then more women vote,
Speaker 15: you know, the math to that suggests that that's good
Speaker 15: news for Kamala Harris. So there are positive indicators for
Speaker 15: both sides depending on where you look across these seven
Speaker 15: critical battleground states. I do think one of the biggest commonalities, though, Nathan,
Speaker 15: is that you see again and again and again. Both
Speaker 15: of these candidates keep returning to Pennsylvania. In all of
Speaker 15: the election map modeling that I'm doing right now, the
Speaker 15: most likely tipping point state where you know that you
Speaker 15: know its ballgame is Pennsylvania.
Speaker 2: Just thirty seconds left. Along with presidential politics, we have
Speaker 2: geopolitics and Secretary of State b Lincoln back in the
Speaker 2: Middle East? Is there a chance for a ceasefire with
Speaker 2: two weeks to go before the election?
Speaker 15: Well, Anthony Blincoln look is on trip number eleven, and
Speaker 15: I do think that the US is trying to find
Speaker 15: any way toward a ceasefire. They're wondering now whether or
Speaker 15: not the conditions on the ground with the death of
Speaker 15: the Hamas leader you know and others, has changed enough.
Speaker 15: Hard to say right now, but the Biden administration does
Speaker 15: keep trying and maybe at one point they succeed, but
Speaker 15: we haven't necessarily seen a massive change on the ground.
Speaker 15: Benjamin Netniaw who's been very clear Israel's Prime Minister that
Speaker 15: the condition for a ceasefire is released the hostages, and
Speaker 15: that has not happened.
Speaker 6: This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 3: And I'm Nathan Hager.
Speaker 2: Join us again tomorrow morning for all the news you
Speaker 2: need to start your day right here on Bloomberg Dbreak