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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 countdown is on for the highly anticipated presidential debate.

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Speaker 2: Final preparations are underway for Vice President Combal Harris and

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Speaker 2: former President Donald Trump. Bloomberg's David Gura begins our team

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Speaker 2: coverage from Pennsylvania.

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Speaker 3: It is the only debate between Vice President Harris and

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Speaker 3: President Trump that's on the calendar, and it'll take place

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Speaker 3: at the National Constitution Center in Philadelphia with no audience.

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Speaker 3: David Muir and Lindsay Davis of ABC News are the moderators.

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Speaker 3: The debate is expected to last ninety minutes with no

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Speaker 3: opening statements. There will be two commercial breaks. According to

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Speaker 3: ABC News, the candidates will get two minutes to answer

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Speaker 3: each question, with additional time for rebuttals. Harris and Trump

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Speaker 3: will stand at podiums, and after winning a coin toss,

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Speaker 3: Trump will get the last word the final closing statement,

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Speaker 3: and each candidate's mike will be muted when the other

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Speaker 3: one is speaking, just like in the first debate of

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Speaker 3: this campaign between Trump and President Biden in Philadelphia. David

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Speaker 3: Gura Bloomberg Radio.

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Speaker 1: All right, David, thank you well. Continuing team coverage now,

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Speaker 1: Bloomberg's Amy Morris is in Washington looking at how the

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Speaker 1: candidates are preparing.

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Speaker 4: Amy Vice President Harris's strategy, in part is reportedly to

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Speaker 4: hold former President Trump accountable while maintaining a calm demeanor

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Speaker 4: on stage. Harris's challenge is that she's not well defined

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Speaker 4: to a lot of potential voters. Donald Trump, on the

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Speaker 4: other hand, is quite well defined. People know him. His

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Speaker 4: strategy may be to change some perceptions and soften his

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Speaker 4: edge a bit. Bob McNally is a former White House

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Speaker 4: energy advisor to President George W. Bush, and he told

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Speaker 4: Bloomberg News what he'd be listening for.

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Speaker 5: I hope they get pressed on their respective plans for Iran,

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Speaker 5: because in terms of what's going to affect the pump

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Speaker 5: price for you, me and our neighbors, I think it has.

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Speaker 6: To do with Iran.

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Speaker 4: Bob McNally talking with Bloomberg's Joe Matthew, this debate is

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Speaker 4: the biggest opportunity the candidate. It may have to reset

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Speaker 4: the conversation and their image. Now that the conventions are

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Speaker 4: over and officials anticipate a huge viewing audience in Washington.

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Speaker 4: Amy Morris, Bloomberg Radio.

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Speaker 1: All right, Amy, thank you. I'll stay with the Bloomberg

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Speaker 1: for coverage of the ABC News presidential debate with a

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Speaker 1: special edition of Balance of Power with Joe Matthew and

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Speaker 1: Kaylee Lines, beginning at a pm. Wall Street Time on

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Speaker 1: Bloomberg Radio and Television.

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Speaker 2: Certain Markets Now Karen Stocks began the week in bullish fashion.

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Speaker 2: All three major indexes gained at least one percent, but

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Speaker 2: Cameron Dawson, chief investment officer at New Edge Wealth, remains cautious.

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Speaker 7: We don't think that we are out of the woods

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Speaker 7: for this continued volatility. It's good to remember that seasonality

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Speaker 7: is still a headwind effectively up until the election. Post

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Speaker 7: the election, we typically see better markets, so seasonality remains.

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Speaker 7: At the same time is that we went into this

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Speaker 7: with really stretched valuation, positioning and sentiment, which just means

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Speaker 7: there's still some hands to shake loose.

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Speaker 2: New Edge weelfs. Cameron Dawson says, the next key moment

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Speaker 2: for tomorrow for the markets is tomorrow when we get

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Speaker 2: the August consumer price Index.

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Speaker 1: Well, looking at company news now, Nathan Shares of Oracles

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Speaker 1: serving eight and a half percent in early trading, the

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Speaker 1: software company reported quarterly profit and bookings that topped estimates.

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Speaker 1: Artificial intelligence demand is continuing to boost Oracle's clown computing business.

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Speaker 2: We have legal news this morning involving some tech heavyweights.

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Speaker 2: Karen Google has lost its bid to topple a two

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Speaker 2: point six billion dollar European Union fine for abusing its

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Speaker 2: monopoly power to crush rival shopping services. The Use Court

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Speaker 2: of Justice in Luxembourg backed at landmark twenty seventeen decision

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Speaker 2: which found the US tech giant illegally leveraged its search

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Speaker 2: engine dominance to give a higher ranking to its own

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Speaker 2: product listings.

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Speaker 1: And Nathan Apple has lost its court fight over a

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Speaker 1: nearly fourteen and a half billion dollar Irish tax bill.

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Speaker 1: That's sam court in Luxembourg backed a landmark twenty sixteen

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Speaker 1: decision and Ireland broke state aid law by giving the

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Speaker 1: iPhone maker an unfair advantage.

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Speaker 2: That legal setback comes a day after Apple introduced the

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Speaker 2: latest version of its flagship device, the iPhone sixteen, and

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Speaker 2: despite modest hardware upgrades, CEO Tim Cook insists the new

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Speaker 2: phone was built from the ground up with AI in mind.

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Speaker 8: Its power and capability enable us to get so much done,

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Speaker 8: like connecting with our family and friends, staying productive on

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Speaker 8: the go, and capturing life special moments. Apple Intelligence will

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Speaker 8: supercharge these experiences and so many more. It puts powerful

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Speaker 8: generative models right at the core of your iPhone.

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Speaker 6: Now.

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Speaker 2: Along with the iPhone, Apple CEO Tim Cook unveiled the

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Speaker 2: new version of the smart watch with a bigger screen

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Speaker 2: and the ability to detect sleep apnea. Cook also touted

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Speaker 2: new software that can turn AirPods into hearing aids.

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Speaker 1: Well Nathan, US banking regulators have reduced the amount of

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Speaker 1: new capital required for the big banks by nearly half,

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Speaker 1: and we get more from Bloomberg's dun Chrisner.

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Speaker 9: We're told the banks now face a nine percent increase

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Speaker 9: versus the original plan to raise required capital by nineteen percent.

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Speaker 9: These are the US global systemically important banks like Bank

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Speaker 9: of America and JP Morgan Chase. They must hold a

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Speaker 9: cushion against unexpected losses and financial shocks, and the sharp

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Speaker 9: reductions to capital mandates is a win since the banks

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Speaker 9: unleashed one of their fiercest lobbying campaigns after the plan's

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Speaker 9: introduction last year. The plan will be subject to a

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Speaker 9: sixty day comment period and fed sha J. Powell has

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Speaker 9: said final adoption might not take place until well into

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Speaker 9: next year. In New York, I'm Doug Prisoner Bloomberg Radio.

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Speaker 2: Thank you, Doug. Turning into Washington, the House has passed

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Speaker 2: a bill aimed at blacklisting Chinese biotech companies and their

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Speaker 2: US subsidiaries. The build Up the Biosecure Act was approved

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Speaker 2: by a vote of three oh six to eighty one.

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Speaker 2: It overcame a last ditch lobbying effort from Massachusetts Democrat

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Speaker 2: Jim McGovern who, who says it punishes companies with no

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Speaker 2: clear standard. We get more from Bloomberg's Derek Wallbank.

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Speaker 5: There's one of several pieces of legislation the US House

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Speaker 5: is taking up this week in what basically could be

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Speaker 5: called a China Week. There's a lot of focus ahead

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Speaker 5: of the election on China. It's an area where Republicans

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Speaker 5: and Democrats actually tend to agree, and so this winds

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Speaker 5: up being a lot of messaging legislation. Now, the thing

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Speaker 5: with messaging legislation is that it occasionally can become law.

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Speaker 2: In Bloomberg's Derek Wallbank reports, this bill targets five companies

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Speaker 2: to start, including Complete Genomics. That's a Silicon Valley based

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Speaker 2: subsidiary of China's MGI Tech. The bill's prospects are less

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Speaker 2: clear in the Senate, but there has been discussion of

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Speaker 2: adding it to the must pass Annual Defense Policy Bill.

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Speaker 1: Well, Nathan, we may be minutes away from liftoff for

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Speaker 1: the latest private crew to space flight for SpaceX. Polaris

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Speaker 1: Dawn had to cancel its first to launch window from

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Speaker 1: Kenny's Space Center at three thirty eight am Wall Street

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Speaker 1: Time unfavorable weather. The next opportunity is at five twenty

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Speaker 1: three am. Four astronauts are on board for this mission,

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Speaker 1: which will include the first fully commercial spacewalk. If SpaceX

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Speaker 1: misses its chance this hour, it'll have one more opportunity

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Speaker 1: to take off this morning at seven oh nine am

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Speaker 1: Wall Street Time. And it's time now for a look

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Speaker 1: at some of the other stories making news in New

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Speaker 1: York and around the world. For that, we're joined by

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Speaker 1: Bloomberg's John Tucker. John, Good morning, Hey, Good.

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Speaker 10: Morning, Karen. Officials are tracking tropical Storm Francine as she

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Speaker 10: churns in the Gulf of Mexico for outer bands will

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Speaker 10: impact the Texas coastline is at Vera's eastward through Louisiana,

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Speaker 10: Spasin and then to the states just north Louisiana. Gavin

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Speaker 10: and Jeff Landry had some words of warning.

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Speaker 8: We want everyone in a state to be cautious and vigilant.

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Speaker 10: We don't want, we.

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Speaker 3: Don't want to down play this event, but we also

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Speaker 3: do not want people in to pany.

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Speaker 10: This storm could become a Category too hurricane by Wednesday,

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Speaker 10: when it's expected to make landfall. The AP reports at

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Speaker 10: least forty people were killed, sixty wounded, and it Israeli

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Speaker 10: strikerly today that left cretors up to thirty two feet

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Speaker 10: deep in the humanitarian area of the Gaza Strip. Israel

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Speaker 10: disputes the death tolls that it targeted significant hamas militants.

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Speaker 10: There's a new US Senator. It follows the resignation of

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Speaker 10: New Jersey Democrat Bob Menendez. More from Bloomberg Steve Potisk.

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Speaker 6: George Helmy, a Democrat and former chief of staff to

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Speaker 6: New Jersey Governor Phil Murphy, has been sworn in and

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Speaker 6: will serve in office for about two months until the

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Speaker 6: November election. Murphy appointed Helmy to the temporary role after

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Speaker 6: Menendez resigned in August after he was convicted on corruption charges.

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Speaker 6: Helmi said he had never sought and would never seek

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Speaker 6: elected office. He said he would focus on serving the

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Speaker 6: public during his short stint in the Senate in Washington.

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Speaker 6: Steve Podisk Bloomberg Radio.

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Speaker 10: And he is perhaps best known for lending his voice

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Speaker 10: to one of the greatest villions of villains in the

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Speaker 10: history of cinema, No I do the father. The legendary

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Speaker 10: actor James Earl Jones has died. He was one of

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Speaker 10: those rare artists who'd won an Emmy, Grammy, Oscar and

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Speaker 10: Tony Award. James Earl Jones was ninety three years old.

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Speaker 10: Global News twenty four hours a day, whenever you want it,

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Speaker 10: we have Bloomberg News.

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Speaker 11: Now.

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Speaker 10: I'm John Tucker and this is Bloomberg. Karen.

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Speaker 1: All right, John, thank you time now for the Bloomberg

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Speaker 1: Sports Update with John stash Hour.

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Speaker 12: John, good morning, Good morning, Karen. On like a year ago,

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Speaker 12: Aaron Rodgers did not get hurt and that Jets season

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Speaker 12: opening mon the night game went thirteen for twenty one

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Speaker 12: hundred and sixty seven yards, a touchdown pass and in

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Speaker 12: an interception. The Jets facing one of the NFL's best teams.

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Speaker 12: Even though the forty nine ers biggest star, Christian McCaffrey,

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Speaker 12: played havoc with thousands of fantasy football owners by being

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Speaker 12: a late scratch with a leg injury. The Niners got

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Speaker 12: one hundred and forty seven rushing from his backup Jordan Mason.

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Speaker 12: They bait the Jets thirty two to nineteen. Jake Moody

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Speaker 12: kicked six field goals. Alan Lazard scored two Jet tds,

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Speaker 12: one from Rogers and one meaningless one at the end

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Speaker 12: from backup GB Tyrod Taylor. Rogers said after the game

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Speaker 12: he can play better. The day after the Dolphins, Tyreek

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Speaker 12: Hill was detained by police on his way to play

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Speaker 12: a game in Miami. Police damn footage was released. It

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Speaker 12: showed a dispute Overhill not lowering his car window and

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Speaker 12: then police pulling him out of the car and at

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Speaker 12: one point pushing him down to the pavement. Ed Cranepoole

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Speaker 12: has passed away at seventy nine. Made his Mets debut

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Speaker 12: in their first season nineteen sixty two, and he was

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Speaker 12: a seventeen year old who had just graduated from James

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Speaker 12: Monroe High School.

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Speaker 11: In the Bronx.

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Speaker 12: Crane Pool stayed a Met for eighteen years, played more

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Speaker 12: games than anyone in team history. Mets in Toronto tie

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Speaker 12: two to eighth inning Alberta.

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Speaker 6: Is it third lendor at first double play an order

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Speaker 6: here tie game one out pitch, Nimo cuts and missus.

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Speaker 6: The ball squeaks by the catcher. Here comes Alvarez flipped.

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Speaker 12: A home cut of time colveristimes and safely have the

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Speaker 12: Mets hot the lead.

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Speaker 6: Another wild pitch.

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Speaker 9: It is three two.

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Speaker 12: Mets, and that was the final w HSQ, the call

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Speaker 12: game of the total of only seven hits and the

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Speaker 12: Mets of now one ten and last eleven. They got

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Speaker 12: help from the Reds, who won one to nothing in Atlanta.

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Speaker 12: The Yankees back at the Stadium in Kansas City ten

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Speaker 12: to four. Austin Wells the three on omer, alex Erdugo

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Speaker 12: a two run shot, and the Orioles lost twelve to three.

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Speaker 12: In Boston, the Yanks now lead Baltimore by a game

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Speaker 12: and a half. John stash A went Bloomberg Sports Kenny Nathan, all.

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Speaker 1: Right, John, thank you well. We want to welcome our

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Speaker 13: Good morning.

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Speaker 2: I'm Nathan Hager. The expectations game is set ahead of

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Speaker 2: tonight's ABC News presidential debate between Kamala Harris and Donald Trump.

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Speaker 5: Vice President Harris, we see an economic plan and with

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Speaker 5: the form President Donald Trump, we see the Project twenty

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Speaker 5: twenty five agenda.

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Speaker 14: I expect to see President Trump have a command of

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Speaker 14: the subjects that are being discussed, and I expect to

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Speaker 14: see Kamala Harris doing some rote memorization regurgitation because she's

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Speaker 14: incapable of thinking on her feet.

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Speaker 2: That was Marilyn Governor Wes Moore on the Harris side,

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Speaker 2: and Congressman Derek Van Orden speaking to ABC News for

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Speaker 2: the Trump camp ahead of tonight's debate.

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Speaker 11: This morning.

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Speaker 2: We were joined by Terry Haynes, the founder of Pangea Policy. Terry,

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Speaker 2: good debate, morning, We've heard the expectations. What are you

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Speaker 2: going to be listening for tonight?

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Speaker 15: Well, Nathan, good morning. You know they're both underdogs according

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Speaker 15: to them, and that's say, yeah, that's a time on kid,

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Speaker 15: that's a time on our tactic. So there we are.

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Speaker 15: But what I'm going to be listening for, by and

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Speaker 15: large is whether or not Harris meets or exceeds the

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Speaker 15: test of being presidential and passing the test with voters

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Speaker 15: that you know, she's a plausible president. I'm not suggesting

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Speaker 15: she's implausible today. I'm only suggesting that, you know, as

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Speaker 15: a reporter pointed out before, you know, people don't know

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Speaker 15: much less about her than they know about President Trump.

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Speaker 15: So there's that. For Trump, I'm looking for something a

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Speaker 15: little bit different. He's by contrast, very very well known.

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Speaker 15: But you know, he's got to essentially soften those partisan

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Speaker 15: edges and those divisive edges if he's going to gain

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Speaker 15: any more votes out of this. I think what we've

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Speaker 15: seen in the campaign so far is that Harris has

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Speaker 15: a floor, but not yet a ceiling, whereas Trump has

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Speaker 15: a very hard ceiling, and he's going to have to

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Speaker 15: exceed that a little bit in order to do in

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Speaker 15: order to come away with a win.

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Speaker 2: Well, the way the rules are set up with the

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Speaker 2: mic turned off when it's not a candidate's turn to speak.

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Speaker 2: Who does that advantage.

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Speaker 15: You know, I think actually advantages Harris a little bit.

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Speaker 15: There's been a lot of talk about how it deprives

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Speaker 15: Harris of the ability to have zingers or viral moments,

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Speaker 15: but I think it advantages Harris a little bit because

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Speaker 15: what she needs to do is look calm and command

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Speaker 15: and not be baited, and frankly, that gives her an

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Speaker 15: opportunity to collect herself if she finds herself being tempted

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Speaker 15: by that. In contrast, you know, Trump really can't kind

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Speaker 15: of barge, metaphorically speaking, barge across the stage and try

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Speaker 15: to disrupt things. So I think, on balance, that's probably

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Speaker 15: a plus for Harris, even though she was trying to

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Speaker 15: keep the mics on.

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Speaker 2: Besides the style points, Terry, is there going to be

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Speaker 2: pressure on these candidates to answer for some of their

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Speaker 2: shifts in positions. We've heard Harris sort of moderate where

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Speaker 2: she is on fracking and immigration, and we've heard former

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Speaker 2: President Trump kind of try to figure out where he

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Speaker 2: is on abortion rights.

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Speaker 1: Oh.

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Speaker 15: Absolutely, the I think the moderators absolutely do that. They

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Speaker 15: very likely respond to the idea that this has been

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Speaker 15: a by and large issues free campaign, but at the

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Speaker 15: same time. You know, I expect him to dance around

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Speaker 15: it a little bit.

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Speaker 12: You know.

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Speaker 15: The real answer with Harris, thank you, and I have

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Speaker 15: talked about this before, But the real answer with Harris

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Speaker 15: is that she was a candidate in twenty twenty trying

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Speaker 15: to in a primary, trying to get primary voters who

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Speaker 15: tend to be purists, very hard left or very hard right,

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Speaker 15: depending on the party. Whereas now she's she's sitting at

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Speaker 15: the head of a party that already has a platform,

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Speaker 15: already has positions, and you know, so she's in a

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Speaker 15: very different position. That's not the excuse her of just saying,

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Speaker 15: you know that she's in a different position. Trump, of course,

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Speaker 15: has been involved in but both of them have been involved.

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Speaker 15: Trump also in kind of what a friend of mine

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Speaker 15: calls the Oprah primary or the Oprah primary, where the

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Speaker 15: election where everybody's trying to give away as much as possible,

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Speaker 15: there's very little serious on issues. I don't expect there

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Speaker 15: to be much more serious on issues, frankly, because they

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Speaker 15: will roll out whatever they've already rolled out. But at

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Speaker 15: this is going to be a test of Harris's fitness

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Speaker 15: and Trump's demeanor.

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Speaker 2: Frankly, just fifteen seconds left, Terry, this is the first debate.

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Speaker 2: Will it be the last?

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Speaker 1: You know?

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Speaker 15: I think there's possibility for another one. It depends entirely

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Speaker 15: on how everybody does here. If this is a close debate,

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Speaker 15: both candidates may want one more.

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