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Speaker 1: Good morning.

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Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 2: stories we're following today.

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Speaker 3: Karen, we begin with the latest legal and political development

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Speaker 3: for Donald Trump. The former president turned himself in last

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Speaker 3: night in Atlanta. He was booked on state charges that

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Speaker 3: he conspired to overturn George's twenty twenty election, But unlike

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Speaker 3: appearances for his other three indictments, this time the former

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Speaker 3: president was given an inmate number and a mug shot.

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Speaker 3: He addressed reporters after his twenty minute stay in the jail, So,

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Speaker 3: what has.

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Speaker 4: Taken place here is a travesty of justice.

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Speaker 5: We did nothing wrong.

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Speaker 6: I did nothing wrong, and everybody knows that I've never

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Speaker 6: had such support.

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Speaker 7: And that goes with the other ones too.

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Speaker 4: What they're doing is election interference. They tried to interfere

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Speaker 4: with an election.

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Speaker 3: And Bloomberg's Joe Matthew says, this is a moment we

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Speaker 3: haven't seen before, even for the former president. This is

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Speaker 3: absolutely remarkable and we have to remind ourselves of how

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Speaker 3: unique this moment is. We're growing used to this on

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Speaker 3: the fourth indictment, but this has never happened before, and

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Speaker 3: we are seeing the reaction that you might expect from Republicans. Look,

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Speaker 3: we had a lot of Republican candidates defending him even

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Speaker 3: though he didn't show up for the debate. In Bloomberg's

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Speaker 3: Joe Matthew reports, former President Trump is using this moment

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Speaker 3: to re emerge on x the site formerly known as Twitter.

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Speaker 3: Trump posted his mugshot on his real Donald Trump account

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Speaker 3: along with a link to his campaign website.

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Speaker 2: Well, Nathan, we continue to follow the latest political developments

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Speaker 2: out of Russia. After the death of Wagner, founder of

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Speaker 2: Guiney Progoshin. Early assessments out of the US indicate the

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Speaker 2: military leader was likely assassinated, and we get the details

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Speaker 2: from Bloomberg's Ed Baxter.

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Speaker 5: The Pentagon says that assessment has Progotion on board and killed.

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Speaker 5: Brigadier General pat Ryder says it does not appear to

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Speaker 5: be a surface to air missile that took it down.

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Speaker 5: He says it definitely will change Wagner moving forward.

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Speaker 6: For all intents and purposes, they have their combat effectiveness

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Speaker 6: has been diminished and they are no longer a significant

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Speaker 6: factor when it comes to the conflict inside Ukraine.

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Speaker 5: Now, uk is also working on the assumption that it

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Speaker 5: was brought down deliberately. Russian President of Vladimir Putin has

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Speaker 5: expressed his condolences. I'm at Baxter Bloomberg daybreak.

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Speaker 3: Okay, ed, thanks, Let's stat turn to the markets now.

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Speaker 3: Futures are a little bit higher as we prepare to

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Speaker 3: close out the week. Yesterday's Nvidia earnings a fuel to rally,

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Speaker 3: petered out as the Nasdaq ended the day down nearly

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Speaker 3: two percent. Bank of America says more trouble may be

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Speaker 3: ahead for the tech sector. Strategist Michael Hartnett says high

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Speaker 3: interest rates will eventually eat into the rally. He predicts

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Speaker 3: a four percent drop for the S and P five

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Speaker 3: hundred from its current level, but he also says today's

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Speaker 3: remarks in Jackson Hole could flip that script for September.

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Speaker 2: Well, Nathan, Jackson Hole is the big event for markets today.

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Speaker 2: We're all waiting for that highly anticipated speech from Feeder

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Speaker 2: Reserve chair j Powell. Bloomberg's Tom Keen is at the

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Speaker 2: event in Wyoming and leads our team coverage.

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Speaker 8: Not the first time, but I would say, and an

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Speaker 8: un usual Friday in Wyoming at Jackson Hole. First, Jerome

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Speaker 8: Powell speaking on America pretty relaxed, I would say, We've

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Speaker 8: seen him a lot here On Thursday, a more relaxed

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Speaker 8: Jerome Powell, a less relaxed Christine Leguard. In the afternoon,

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Speaker 8: the President of the European Central Bank will speak about

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Speaker 8: a troubled Europe. Huge anticipation for the Leguard speech, the

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Speaker 8: choices she has forward with the September meeting and beyond,

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Speaker 8: about a Europe in transformation, a Europe in war. I'm

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Speaker 8: Tom Keen in Jackson Hall, Wyoming, Bloomberg Daybreak.

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Speaker 3: All right, Tom, thank you. Tune in for Tom, John

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Speaker 3: and Lisa with complete and comprehensive coverage from Jackson Hole

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Speaker 3: on a special four hour edition of Bloomberg Surveillance. It

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Speaker 3: all starts today at eight am Eastern, and later this afternoon,

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Speaker 3: Tom will sit down for an exclusive interview with the

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Speaker 3: ECB President, Christine Laguard. You can catch that conversation at

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Speaker 3: the close of US markets at four PM Wall Street Time.

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Speaker 2: Well, Nathan, ahead of Powell's speech, You've been hearing rate

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Speaker 2: calls from both current and former Fed officials. Philadelphia Fed

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Speaker 2: President Patrick Harker and Boston Fed chief Susan Collins say

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Speaker 2: the Central Bank is nearing the end of its hiking cycle,

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Speaker 2: but former Saint Louis FED president Jim Bullard tells us

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Speaker 2: that markets may have to wait for a signal that

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Speaker 2: interest rates are coming down thanks to strengthen the US economy.

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Speaker 9: Reacceleration could put upward pressure on inflation, stem the disinflation

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Speaker 9: that we're seeing, and instead delay plans for the FED

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Speaker 9: to change policy.

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Speaker 2: And Jim Bullard, formerly with the Saint Louis FED, is

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Speaker 2: now dean of Purdue University's Business School.

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Speaker 3: Well, there's plenty of other global economic news this morning, Karen,

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Speaker 3: let's talk China. The government there has unveiled a further

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Speaker 3: easing of its mortgage policies intended to halt a slump

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Speaker 3: in the residential property market and revive growth in the

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Speaker 3: world's second largest economy.

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Speaker 2: Nathan In Europe, Germany's economy exited recession by the slimmest

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Speaker 2: margin in the second quarter, but it's sluggish performance continues

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Speaker 2: to drag down growth across the whole Eurozone. German GDP

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Speaker 2: for the second quarter came in unchanged this morning.

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Speaker 3: And in corporate news, Karen td Bank says it's cooperating

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Speaker 3: with a Justice Department probe bor on that from Bloomberg's

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Speaker 3: Doug Prisoner.

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Speaker 10: The inquiries are related to TD's compliance with rules aimed

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Speaker 10: at fighting money laundering, and the US Department of Justice

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Speaker 10: is among those making requests. TD said its cooperating with

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Speaker 10: authorities and is pursuing efforts to enhance its Bank Secrecy

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Speaker 10: Act Anti money Laundering compliance program. TD is Canada's second

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Speaker 10: largest bank. It made the disclosure in its third quarter

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Speaker 10: financial results on Thursday. TD also said it may face

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Speaker 10: penalties as a result of the probe. In New York,

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Speaker 10: I'm Doug Prisner, Bloomberg Daybreak.

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Speaker 3: All right, Doug, Thanks, This is Bloomberg.

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Speaker 2: Thanks Nathan five seven on Wall Street Time for a

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Speaker 2: look now at some of their stories making news around

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Speaker 2: the world. For that were joined by Bloomberg's Amy Morris, Amy,

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Speaker 2: good morning.

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Speaker 11: Good morning, Karen. Getting some pre poll numbers after Wednesday

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Speaker 11: night's Republican presidential primary debate. On big finding in the

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Speaker 11: New Washington Post five thirty eight if So survey is

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Speaker 11: that former President Donald Trump, who skipped that debate, has

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Speaker 11: lost just a bit of support, and it shows some

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Speaker 11: big surprises for some of his rivals, including Florida Governor

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Speaker 11: Ronda Santis. Now Republican primary voters thought it was Rond

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Speaker 11: de Santis who had the best debate performance on Wednesday night,

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Speaker 11: but the survey of Republican voters also found Nikki Hayley

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Speaker 11: gained the most potential supporters, going from thirty percent saying

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Speaker 11: they might support her to forty seven percent, and businessman

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Speaker 11: Vivek Ramaswami boosted his favorability rating by about ten points

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Speaker 11: that brought him up to sixty percent, but his unfavorability

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Speaker 11: also jumped by nineteen points up to thirty two percent.

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Speaker 11: Ukrainian pilots will soon be training in the US on

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Speaker 11: F sixteen fighter jets. Bloomberg's Nancy Lyons has an update.

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Speaker 12: Ukraine has long requested access to F sixteen, saying they

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Speaker 12: could make a real difference in the war against the Russians.

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Speaker 12: Pentagon spokesman Brigadier General Pat Ryder says the training could

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Speaker 12: begin very soon once pilots receive English language classes.

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Speaker 6: The training provided by the United States will complement the

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Speaker 6: F sixteen pilot and maintenance training that's already underway in

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Speaker 6: Europe and further deepens our support for the F sixteen

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Speaker 6: training coalition led by Denmark and the Netherlands.

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Speaker 12: Well, the training may happen soon, it's expected to take

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Speaker 12: months before the jets actually make it into battle. In Washington,

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Speaker 12: Nancy Lyons Bloomberg Daybreak.

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Speaker 11: Turning to Chicago, which is blaming automakers as thieves are

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Speaker 11: live streaming thefts on TikTok. That story now from Bloomberg's

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Speaker 11: Charlie Pellett.

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Speaker 7: The city has filed US civil suit against Kia and

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Speaker 7: Hyundai Motor for failing to include engine immobilizers in various models,

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Speaker 7: causing quota steep rise in vehicle thefts, reckless driving, property damage,

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Speaker 7: and a wide array of related violent crimes in Chicago.

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Speaker 7: Thefts of Kia and Hyundai cars have surged across the

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Speaker 7: country after social media users expose security flaws, sparking what

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Speaker 7: has been termed the Kia Challenge, where people live stream

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Speaker 7: their larceny in New York. Charlie Pellett Bloomberg Daybreak.

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Speaker 11: Global News twenty four hours a day, powered by more

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Speaker 11: than twenty seven hundred journalists and analysts and more than

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Speaker 11: one hundred twenty countries. I'm Amy Morris, and this is Bloomberg.

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Speaker 2: Karen all right, Amy, thank you, And it's currently five

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Speaker 2: h nine on Wall Street. Time now for the Bloomberg

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Speaker 2: Spores update, and here's Dan Schwartzman.

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Speaker 1: Dan, Good morning, Good morning, Karen.

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Speaker 13: Starting out in Major League Baseball, the Nationals beat the

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Speaker 13: Yankees in the rubber game of their three game set,

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Speaker 13: six to five. In the Bronx, there's a Red Sox

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Speaker 13: dominating the Astros seventeen to one, as Boston set season

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Speaker 13: his and runs and hits with twenty four I Meanwhile,

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Speaker 13: the a is getting past the White Sox eight to five,

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Speaker 13: Orioles knocking off the Blue Jays five to three, while

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Speaker 13: the Twins beat the Rangers in a battle of division leaders.

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Speaker 10: A drop don't need to lug at it agall when

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Speaker 10: he hit the ball into the second.

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Speaker 2: Down, which.

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Speaker 13: That's courtesy of Valley Sports North Minnesota, outlasting the Rangers

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Speaker 13: seven to five to open up a six game lead.

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Speaker 13: In the AL Central Angels two way Star Showyo Tommy

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Speaker 13: will continue to hit the rest of the year despite

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Speaker 13: tearing a ligment in his right elbow that may require

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Speaker 13: Tommy John surgery. The front runner for al MVP, will

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Speaker 13: not take the mound the rest of the season. The

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Speaker 13: twenty nine year old, who will be a free agent

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Speaker 13: this offseason, leaves the majors in home runs with forty four,

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Speaker 13: while also winning ten games on the mound. One time

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Speaker 13: Washington Nationals A Stephen Trosburg has announced his retirement. The

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Speaker 13: first overall pick of the two thousand and nine draft,

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Speaker 13: signed a seven year, two hundred and forty five million

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Speaker 13: dollar contract in December of twenty nineteen, has thrown just

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Speaker 13: five hundred and twenty eight pitches since then. The final

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Speaker 13: week of the NFL preseason schedule getting underway, with the

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Speaker 13: Steelers finishing three to zero after shutting out the Falcons

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Speaker 13: twenty four to nothing. In the other game, it was

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Speaker 13: a Colts beating Eagles twenty seven oh thirteen. As Indigos

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Speaker 13: two have won this preseason. That's your Bloomberg Sports update

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Speaker 13: on Dan Schwartzman.

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Speaker 4: From coast to coast, from New York to San Francisco,

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Speaker 4: Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg

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Speaker 4: Business Appen Bloomberg dot Com.

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Speaker 3: This is Bloomberg Day Break. Good morning, I'm Nathan Hager.

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Speaker 3: It is another remarkable moment in the president shattering political

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Speaker 3: career of Donald Trump. The former president has turned himself

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Speaker 3: in for the fourth time on criminal charges, this time

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Speaker 3: in Fulton County, Georgia, over the effort to overturn the

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Speaker 3: twenty twenty election there. But this time Trump's been given

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Speaker 3: an inmate number and a mug shot, something we have

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Speaker 3: never seen before. And for more on this, we're joined

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Speaker 3: by Bloomberg Senior editor Bill Ferries. Bill, good morning. We

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Speaker 3: have gotten used to saying that former President Trump breaks norms,

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Speaker 3: but you really do have to step back and take

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Speaker 3: note of just how norm breaking this is.

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Speaker 14: Right, We've never seen anything like this. The President had

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Speaker 14: a very brief appearance that this jail in Fulton County, Georgia,

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Speaker 14: you know, went in, had the photo taken, left and

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Speaker 14: made some remarks at the airport, and flew back to

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Speaker 14: his resort in New Jersey. But this is one of

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Speaker 14: those things that you have to wonder whether it's going

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Speaker 14: to linger in the collective memory, and when we see

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Speaker 14: the primaries unfolding, it'll be something that voters will likely

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Speaker 14: have in their mind when they go in to decide

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Speaker 14: who the Republican challenger to President Joe Biden should be.

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Speaker 3: Well, in some ways, it seems as though the former

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Speaker 3: president wants this moment to linger in the public memory.

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Speaker 3: I mean, it's amazing that he's been off Twitter I

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Speaker 3: guess we call it X now for more than a

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Speaker 3: year now, and he uses this moment to get back

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Speaker 3: on X and post his mugshot.

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Speaker 14: Right, you know, so far he really has been made

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Speaker 14: of teflon when it comes to these cases against him.

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Speaker 14: I think this is the fourth time he's face charges

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Speaker 14: and had to go into a courthouse for this kind

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Speaker 14: of a thing, and so far it has not dented

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Speaker 14: his approval rating within the party really at all. His

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Speaker 14: core base of supporters is still there. We saw earlier

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Speaker 14: this week he was able to skip the Republican primary

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Speaker 14: debate and really not suffer any consequence for it. He

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Speaker 14: is he is leading the field by as much as

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Speaker 14: forty points in some of these polls, So until there's

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Speaker 14: another dynamic in this race, or until one of the

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Speaker 14: other candidates is able to show more traction, he is

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Speaker 14: able to use these events as basically fundraising opportunities. And

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Speaker 14: we know from the campaign filings now that many of

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Speaker 14: the funds that he's raising, many of the dollars he's

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Speaker 14: raising are actually going to pay the legal team to

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Speaker 14: help keep fighting these charges.

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Speaker 3: Now, I understand most of this funding as well as

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Speaker 3: coming from small dollar donors. You mentioned the fact that

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Speaker 3: he hasn't seen much erosion of support from the base.

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Speaker 3: What about the more established wings of the Republican Party.

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Speaker 3: I mean, even on the debate stage, the candidates were

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Speaker 3: asked whether they would support Trump even if he were

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Speaker 3: convicted of a crime, and most of them raised their hands.

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Speaker 14: Right, You have seen some of really the larger donors

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Speaker 14: still kind of holding off, and some who had gone

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Speaker 14: in early to support candidates like Florida Governor Ron DeSantis,

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Speaker 14: started to withhold their support once they saw DeSantis kind

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Speaker 14: of eroding in the polls. And that's really been kind

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Speaker 14: of the story of this year. As Donald Trump faces

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Speaker 14: increasingly risky legal cases against him, his support has been

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Speaker 14: steady or climbed. And while you know, the people who

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Speaker 14: have come closest to being the successor to the throne,

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Speaker 14: the heir to Trump, the people who are really going

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Speaker 14: after that hardcore of MAGA voters, they have largely either

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Speaker 14: stayed flat or seen their support decline. So it's been

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Speaker 14: an interesting dynamic and a very tough one for those

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Speaker 14: who see themselves as President Trump's successor.

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Speaker 3: Does it become more difficult for the former president to

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Speaker 3: maintain that support. When we do expect that he's going

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Speaker 3: to start seeing more and more court appearances alongside the

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Speaker 3: campaign calendar. For him, he's going to be juggling a

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Speaker 3: lot of different scheduling conflicts. Just to put it in

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Speaker 3: really mild terms there.

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Speaker 14: Yeah, right now, really he doesn't have to do much campaigning.

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Speaker 14: He's the leader in the Republican race. But as you mentioned,

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Speaker 14: some of these cases they've been building up all year.

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Speaker 14: The court appearances are going to start increasing when we

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Speaker 14: get into twenty twenty four. He has a hearing in

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Speaker 14: a New York case at the end of March, just

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Speaker 14: I think a couple of weeks after the Super Tuesday primary.

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Speaker 14: He may even have more cases later this year. That's

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Speaker 14: going to start to become a very difficult dynamic. I

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Speaker 14: think for the president to manage. He will have to

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Speaker 14: be out on the road campaigning, and he's going to

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Speaker 14: have to be cutting some of those travels short to

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Speaker 14: get back to appear in a courtroom. How that plays

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Speaker 14: with the Republican base is really anybody's guests. They've stuck

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Speaker 14: stuck with them so far, but it could be kind

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Speaker 14: of a strange split screen moment that again we've never

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Speaker 14: seen in modern US politics where you know, he's leaving

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Speaker 14: the campaign trail to stand in a courtroom and deal

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Speaker 14: with some of these cases. That's, you know, we we

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Speaker 14: don't know how that will play out and whether also

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Speaker 14: some of the other candidates in this race find a

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Speaker 14: way to break through and build a little bit more support.

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