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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today, Karen.

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Speaker 2: The US dock workers strike is over for now. Both

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Speaker 2: sides have agreed to end a three day workstoppage that

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Speaker 2: had paralyzed trade on the East and Gulf coasts and

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Speaker 2: threatened to become a factor in the presidential election. The

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Speaker 2: International Longshoreman's Association and the US Maritime Alliance extended their

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Speaker 2: previous contract through January fifteenth. We get more from Bloomberg's

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Speaker 2: Kate Davidson.

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Speaker 3: One of the things that they wanted were greater protections

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Speaker 3: against the kind of automation that we've seen at ports

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Speaker 3: on the West coast. So that was a real sticking point.

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Speaker 3: This tentative agreement doesn't address that, but it does go

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Speaker 3: some way toward addressing some of the wage demands. So

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Speaker 3: they've agreed to a temporary deal that would at least

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Speaker 3: allow them to start moving cargo again, and that was

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Speaker 3: under some fairly intense pressure from the White House. I

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Speaker 3: think over the past few days and in the meantime

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Speaker 3: between now and January fifteenth, I have to keep working

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Speaker 3: on that broader contract agreement.

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Speaker 2: Bloomberg Skate Davidson says the two sides will restart negotiations

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Speaker 2: today on a long term agreement, which would include a

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Speaker 2: pay increase of about sixty two percent.

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Speaker 1: Well, Nathan, we want to get you updated now on

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Speaker 1: the latest developments in the Middle East. Israel has carried

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Speaker 1: out huge bombing rates overnight near Beirut Airport, aimed at

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Speaker 1: Hezbola commanders and facilities. Yesterday, oil surged after President Biden

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Speaker 1: said the US was discussing whether to support potential Israeli

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Speaker 1: attacks on Iranian oil infrastructure.

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Speaker 4: You support Andreil striking Lan oil facilities service.

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Speaker 2: We're in destructure. I think that would be a little enteray.

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Speaker 1: And that was President Biden speaking to reporters outside the

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Speaker 1: White House yesterday. Stuart Livingstone Wallace, the head of a

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Speaker 1: Bloomberg News's Middle East and North Africa coverage, has more

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Speaker 1: on Israel's options.

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Speaker 5: The old services do remain an option, and they are

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Speaker 5: to some extent quite vulnerable. You know, a lot of

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Speaker 5: it's concentrated, particularly on the export term at carg Islands,

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Speaker 5: well within the capabilities of Israel's military. However, it does

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Speaker 5: have very serious consequences both for the global economy and

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Speaker 5: particularly you know when they run up to the US elections.

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Speaker 5: And the last thing I suspect the US administration wants

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Speaker 5: is you know, sudden rising gas prices.

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Speaker 1: At the pump and Bloomberg's Stewart Livingstone Wallace says the

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Speaker 1: Middle East accounts for about a third of the world's

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Speaker 1: oil supply, and Iran is the third and largest producer

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Speaker 1: in OPEC.

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Speaker 2: Now, Karen, let's turn to the latest in the presidential race.

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Speaker 2: Former President Donald Trump plans to hold a rally tomorrow

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Speaker 2: in Butler, Pennsylvania, the same site where a gunman tried

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Speaker 2: to take his life in July. Trump was in Saginaw,

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Speaker 2: Michigan yesterday, railing against the Biden administration's border policies. Your

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Speaker 2: borders will be gone forever.

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Speaker 1: They already are when you think of it, right, we

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Speaker 1: don't have any borders.

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Speaker 2: You're a border state now, you know. They welcome congratulations.

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Speaker 2: As fort Tomorrow's Pennsylvania event, there is a special guest,

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Speaker 2: Elon Musk, the billionaire posted on x that he will

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Speaker 2: be there to support Trump. The rally will come exactly

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Speaker 2: one month before election day.

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Speaker 1: Meanwhile, Nathan and Vice President Kamala Harris is getting support

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Speaker 1: of her own on a campaign trail from Republican Liz Cheney.

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Speaker 6: A broad coalition has come together to support Vice President

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Speaker 6: Kamala Harris. Now we may disagree on some things, but

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Speaker 6: we are bound together by the one thing that matters

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Speaker 6: to us as Americans more than any other, and that's

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Speaker 6: our duty to our constitution.

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Speaker 1: And the former congresswoman and longtime Trump critic joined Harris

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Speaker 1: and rippon Wisconsin, in the town where the Republican Party

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Speaker 1: was founded. Harris says Cheney's endorsement matters a great deal.

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Speaker 7: It is so admirable when anyone does it, and especially

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Speaker 7: when it is difficult to do in an environment such

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Speaker 7: as this. But Liz Cheney really is a leader who

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Speaker 7: puts country above party and above self, a true patriot.

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Speaker 1: And before this event, former President Trump told Fox News

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Speaker 1: that Cheney's support would hurt Harris. He called the former

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Speaker 1: congressomeman a quote stupid warhowk and Karen.

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Speaker 2: As the campaign enters its home stretch, Harris is about

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Speaker 2: to get even more support on the stump from Barack Obama.

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Speaker 2: The Harris campaign says the former president will spend the

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Speaker 2: final four weeks before election day, campaigning for the vice

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Speaker 2: president and other Democrats, starting next Thursday in Pittsburgh. Obama's

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Speaker 2: kicking off his fall campaigning a little earlier than he

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Speaker 2: did four years ago. He waited till October twenty first

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Speaker 2: to hold his first in person event for his former

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Speaker 2: vice president, Joe Biden.

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Speaker 1: Well, let's turn to the markets now, Nathan and futures

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Speaker 1: their little change. This morning, ahead of a key jobs report,

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Speaker 1: economists are looking for a gain of one hundred and

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Speaker 1: fifty thousand jobs in September, we get a preview from

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Speaker 1: Bloomberg's Michael McKee.

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Speaker 4: Will it be a case of hard to forecast or

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Speaker 4: just a hardy economy? Bloomberg's Economists survey has estimates ranging

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Speaker 4: from seventy thousand to two hundred and twenty. The consensus

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Speaker 4: is hiring will be little changed from last month, a

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Speaker 4: bit slower than a few months ago, but not collapsing.

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Speaker 4: Unemployment is forecast to be unchanged, but a big miss

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Speaker 4: either way would not be a huge surprise. September payrolls

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Speaker 4: tend to undershoot the consensus, but other labor market data

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Speaker 4: are consistent with an unusually high gain, so a wide

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Speaker 4: range of market reactions is possible. Michael McKee, Bloomberg Radio.

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Speaker 2: All right, Mike. Thanks. Checking the richness scoreboard, Jeff Bezos

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Speaker 2: is no longer the world's second richest person. More on

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Speaker 2: that from Bloomberg's Doug Prisner.

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Speaker 8: Mark Zuckerberg is now in the number two spot on

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Speaker 8: the Bloomberg Billionaires Index. His net worth is just over

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Speaker 8: two hundred and six billion dollars, one point one billion

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Speaker 8: ahead of Bezos. Even so, Zuckerberg is still behind Elon

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Speaker 8: Musk by nearly fifty billion dollars. So why the change

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Speaker 8: in net worth rankings. Well, the value of Zuckerberg's thirteen

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Speaker 8: percent stake in meta platforms keeps rising. It's due in

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Speaker 8: part to his big bet on the metaverse. At first,

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Speaker 8: it looked like a colossal bust, but it appears to

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Speaker 8: have paid off so far. This here, Meta shares are

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Speaker 8: up more than sixty four percent, and the stock closed

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Speaker 8: Thursday at an all time high.

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Speaker 2: In New York.

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Speaker 8: I'm Doug Prisoner, Bloomberg Radio.

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Speaker 1: All right, Doug, thank you. While staying in the tech sector,

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Speaker 1: Ark Investments CEO Kathy Wood joins Bloomberg Business Week Today

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Speaker 1: right after the closing bell to talk artificial intelligence and

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Speaker 1: her latest investments into open AI. Catch that conversation with

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Speaker 1: Carol Masser and Tim Steneveek at four pm Wall Street

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Speaker 1: Time on Bloomberg Radio and Television.

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Speaker 2: In the meantime, Karen, we just had this breaking news

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Speaker 2: cross the Bloomberg terminal. The European Union has voted to

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Speaker 2: impose tariffs as high as forty five percent on electric

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Speaker 2: vehicles from China, in a move that is set to

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Speaker 2: increase trade tensions with Beijing. Sources say the European Commission,

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Speaker 2: the Blocks Executive Arm can now proceed with implementing the duties,

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Speaker 2: which would last for five years.

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Speaker 1: Honest time now for a look at some of the

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

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Speaker 1: And for that we're joined by Bloomberg's Michael Barr.

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Speaker 2: Michael, good morning, Good morning, Karen.

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Speaker 9: The death toll from Hurricane Aleen has climbed to two

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Speaker 9: hundred and fifteen, with many still unaccounted for. President Biden

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Speaker 9: flew to the South yesterday to inspect the damage in

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Speaker 9: Florida and then visiting a devastated farm in Rays City, Georgia,

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Speaker 9: once again vowing to help stricken residents.

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Speaker 10: We're really in this together that we're separate state where

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Speaker 10: the United States of America.

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Speaker 9: In the Ashville area, the North Carolina National Guard. They're

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Speaker 9: working around the clock to get supplies out into the field,

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Speaker 9: but with the hundreds of roads unpassable, troops can only

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Speaker 9: go so far. Volunteers are using pack mules to get

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Speaker 9: insulin up the mountain to families in need. Meanwhile, Donald

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Speaker 9: Trump is blasting the Biden administration for its response to Helene.

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Speaker 9: Campaigning and Saginaw, Michigan. The former president said the federal

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Speaker 9: response to the storm has been the worst in history.

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Speaker 9: Trump responded after the Homeland Security Secretary of warrened FEMA

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Speaker 9: may not have enough funding to make it through the season.

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Speaker 2: Kamalas spent all her FEMA money billions of dollars on

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Speaker 2: housing for illegal migrants.

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Speaker 9: However, a White House spokesman says FEMA disaster relief is

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Speaker 9: completely separate from the agency's shelter and Services program, which

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Speaker 9: provides grants to cities. A jury has reached a verdict

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Speaker 9: in the trial of three former Memphis police officers and

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Speaker 9: the death of Tyree Nichols in twenty twenty three. The

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Speaker 9: convicted officers were found guilty on accounts of witness tampering,

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Speaker 9: and one was found guilty of civil rights violations. Prosecutors

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Speaker 9: say the officers involved in the incident did not provide

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Speaker 9: life saving aid to Nichols. Ben Crump is one of

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Speaker 9: the attorneys representing the Nichols family.

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Speaker 11: Tyrene nichols death won't go unaccounted for.

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Speaker 10: That is critical.

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Speaker 9: Nichols, who was twenty nine, was brutally beaten during a

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Speaker 9: traffic stop and died from his injuries a few days later.

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Speaker 9: Prosecutors in Los Angeles say they are reviewing new evidence

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Speaker 9: in the case of the Menendez brothers to determine whether

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Speaker 9: they should be serving life sentences for killing their parents

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Speaker 9: in their Beverly Hills mansion more than thirty five years ago.

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Speaker 9: Los Angeles County District Attorney George Gasson says that attorneys

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Speaker 9: for fifty three year old Eric Menndez and his fifty

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Speaker 9: six year old brother Lyle have asked to court vacate

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Speaker 9: their conviction.

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Speaker 12: One possibility, what is being alleged by his lawyers, not

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Speaker 12: by us, that there was evidence that had that evidence

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Speaker 12: been presented to the jury, the outcome of this case

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Speaker 12: would have been different.

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Speaker 9: By hearing is scheduled for November twenty ninth. Global News

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Speaker 9: twenty four hours a day and whenever you want it

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Speaker 9: with Bloomberg News.

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Speaker 12: Now.

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Speaker 9: I'm Michael Barr. This is Bloomberg Karen.

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Speaker 1: All right, Michael Barr, thank you, time out for the

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Speaker 1: Bloomberg Sports Update, brown to you by Tri State Audie.

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Speaker 1: Here's John Staneshawer, John, good morning, Good morning, Karen.

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Speaker 13: What a week it's been for the Mats in the

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Speaker 13: and it's not over yet. It started with that thrilling

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Speaker 13: win Monday in Atlanta, the Francisco Lindor ninetheen a home

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Speaker 13: run that put the Mets in the postseason. They had

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Speaker 13: not homered in the four games since then, and they

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Speaker 13: came up with a ninth inning of the decisive Game

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Speaker 13: three in Milwaukee having had only two hits, having not

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Speaker 13: scored in fifteen innings. The Brewers thanks to solo home

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Speaker 13: runs on consecutive pitches in the seventh and he led

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Speaker 13: two to nothing, but Lindor walked. Branded Demos singled an

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Speaker 13: upstep pe the Alonzo free agent to be so it

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Speaker 13: could have been his final at that as a Met,

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Speaker 13: it wasn't.

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Speaker 10: William Sets Here's the pitch, swinging a fly ball to

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Speaker 10: right field, pretty well, hit freelick.

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Speaker 4: Back at the wall.

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Speaker 10: He jumps hits gone, hate it, hate dead it. Hay

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Speaker 10: Alonzo with the most favorable home run of his career,

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Speaker 10: pucks his fastest. He round second. It's a three run

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Speaker 10: of homer. He's given the Bets a three to two late.

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Speaker 13: Now he rose out at Mets Radio and they scored again.

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Speaker 13: They won, four to two. It's their first series victory

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Speaker 13: since twenty fifteen. And now this near two week long

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Speaker 13: road trip that has seen the Mets visit Atlanta twice

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Speaker 13: and Milwaukee twice now has them in Philadelphia first ever

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Speaker 13: postseason series with the Phils. Best of five starts tomorrow

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Speaker 13: four o'clock, just ahead of the Yankees Game one with

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Speaker 13: Kansas City at the stadium. Also from baseball, Terry Francona

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Speaker 13: going to be the new manager of the Cincinnati Reds.

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Speaker 13: Overtime in the NFL, Atlanta be Tampa Bay thirty six

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Speaker 13: to thirty Falcons QB. Kirk Cousins forty two of fifty

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Speaker 13: eight four touchdowns, including the game winner OT Cousins two

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Speaker 13: for five hundred and nine yards, the fifteenth most NFL history.

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Speaker 9: Both teams are three and two.

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Speaker 13: The Chiefs are four and oh they won't have top

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Speaker 13: whine out receive rice for at least four games. Placed

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Speaker 13: on ir he hurt his knee colliding with his teammate

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Speaker 13: Patrick Mahomes as they tried to make a tackle after

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Speaker 13: an interception. John Stashewer Bloomberg Sports, Karen and.

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Speaker 11: Either Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 11: and around the world on Bloomberg dot Com and the

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Speaker 11: Bloomberg Business app.

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Speaker 2: This is Bloomberg Day Break. Good morning. I'm Nathan Hager.

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Speaker 2: The White House may be breathing a pretty big sigh

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Speaker 2: of relief this morning, now that the dock workers strike

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Speaker 2: along the Gulf and East coasts is on hold. President

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Speaker 2: Biden is sounding hopeful that the long Shortman and the

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Speaker 2: terminal operators will get to a deal.

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Speaker 10: Dockworkers are going back to work, and the next ninety

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Speaker 10: days we're going to settle everything.

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Speaker 2: Was President Biden outside the White House last night, saying

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Speaker 2: that over the next ninety days, both sides will settle everything.

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Speaker 2: In his words, Joining us for more this morning is

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Speaker 2: Bloomberg New Senior Editor Bill Ferries. Bill, Good Morning. This

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Speaker 2: situation could have been more and more politically damaging for

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Speaker 2: the White House the longer it went on. So what

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Speaker 2: is the political impact potentially now that this strike is

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Speaker 2: over for now?

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Speaker 14: Well, you're right, Nathan, I mean what is the political impact.

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Speaker 14: I mean, at the very top of that list of

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Speaker 14: things would be that it takes a big headache and

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Speaker 14: potentially worsening headache off the play to the Democrats just

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Speaker 14: four weeks before the election. Listen to the White House.

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Speaker 14: The administration has a lot on it plate right now.

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Speaker 14: It's dealing with the aftermath of Hurricane Helene. There's still

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Speaker 14: you know, search and rescue going on for that, It's

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Speaker 14: got this widening crisis in the Middle East, and really

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Speaker 14: the last thing you need on top of that, The

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Speaker 14: last thing the administration wanted on top of that was

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Speaker 14: this crisis at the ports with potentially disrupting the delivery

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Speaker 14: of some goods, with a lot of you know, thousands

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Speaker 14: of workers going on strike complaining about wages, it was

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Speaker 14: not going to be a good look for the administration

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Speaker 14: if that dragged on, and the economic costs we're going

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Speaker 14: to build up to potentially as much as five billion

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Speaker 14: dollars a day if this kept going even as it is.

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Speaker 14: It's the authorities are saying it will take about twelve

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Speaker 14: days to clear the backlog of ships off of those

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Speaker 14: southern and Eastern US ports that had built up in

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Speaker 14: really just about three days of the strike.

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Speaker 2: So we could see a continued economic impact as we

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Speaker 2: get through that backlog. But now that the sides have

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Speaker 2: given themselves another three months to work out a new contract,

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Speaker 2: is that going to be enough time given how far

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Speaker 2: apart both sides are on the issue of pay and automation.

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Speaker 14: Yeah, I think automation is going to be the real

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Speaker 14: sticking point heading forward. You know, they've set this January

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Speaker 14: fifteenth deadline to deal with that. They do seem to

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Speaker 14: have some kind of an agreement on the wage side

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Speaker 14: in terms of a sixty one percent wage increase over

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Speaker 14: the next six year contract. I think there's still a

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Speaker 14: lot of details there to be worked out, but that

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Speaker 14: gets them part of the way towards a final deal,

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Speaker 14: and then automation is going to be the second part

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Speaker 14: of that. But I think, you know, it gives them

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Speaker 14: the time to reach a deal. It also kicks us

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Speaker 14: well past the election. So if there is a strike

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Speaker 14: that starts up in January it's going to be either

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Speaker 14: Donald Trump or Kamala Harris's problem to deal with, but

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Speaker 14: it's not going to affect the election at that point.

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Speaker 2: And as you mentioned, the White House and Kamala Harris

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Speaker 2: to some extent do have a lot on their plates,

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Speaker 2: including Hurricane Helene and this escalating situation in the Middle East.

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Speaker 2: Did the President make a pretty significant gaff here with

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Speaker 2: this comment that Israel is in discussions about going after

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Speaker 2: oil targets in Iran.

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Speaker 14: Well, you know, you saw how seriously the markets take

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Speaker 14: those kind of comments. You know, when the President of

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Speaker 14: the United States speaks, markets listen, and he said that

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Speaker 14: there is some consideration or discussions going on about whether

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Speaker 14: Israel should hit Iranian oil facilities, and West Texas Intermediate

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Speaker 14: jumped more than five percent right off the bat. Markets

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Speaker 14: are very jittery about what could happen here Iran. Despite

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Speaker 14: all these sanctions it's had on it for about six years. Now,

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Speaker 14: Iran is producing, you know, I think it's just over

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Speaker 14: three million barrels of oil a day, mostly purchased by China.

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Speaker 14: But that really helps alleviate some of the price pressure

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Speaker 14: on the international market. If some of that capacity is

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Speaker 14: taken offline. You know you'll get another spike in oil prices,

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Speaker 14: and that translates the gasoline costs at home, and that's

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Speaker 14: not a winner for anybody politically.

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Speaker 1: This is Bloomberg Daybreak, your morning podcast on the stories

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