1
00:00:00,640 --> 00:00:03,040
Speaker 1: News when you want it with Bloomberg News Now, I'm

2
00:00:03,080 --> 00:00:06,640
Speaker 1: Amy Morris. The Trump administration will comply with a court

3
00:00:06,760 --> 00:00:10,440
Speaker 1: order by providing partial food assistance benefits, according to the

4
00:00:10,440 --> 00:00:12,720
Speaker 1: White House Press Secretary Caroline Levitt.

5
00:00:13,039 --> 00:00:13,200
Speaker 2: Now.

6
00:00:13,200 --> 00:00:16,400
Speaker 1: The move comes after President Trump posted on social media

7
00:00:16,520 --> 00:00:20,560
Speaker 1: that snap money won't be distributed until after the government reopens.

8
00:00:20,600 --> 00:00:23,880
Speaker 3: We are digging into a contingency fund that is supposed

9
00:00:23,880 --> 00:00:27,880
Speaker 3: to be for emergencies, catastrophes, for war, and the President

10
00:00:27,880 --> 00:00:29,600
Speaker 3: does not want to have to tap into this fund

11
00:00:29,600 --> 00:00:31,440
Speaker 3: in the future, and that's what he was referring to

12
00:00:31,720 --> 00:00:32,960
Speaker 3: in his true social posts.

13
00:00:32,960 --> 00:00:36,440
Speaker 1: The administration plans to use four point sixty five billion

14
00:00:36,560 --> 00:00:40,560
Speaker 1: dollars in contingency money to provide recipients with fifty percent

15
00:00:40,600 --> 00:00:44,080
Speaker 1: of the amount eligible households normally receive. In November. The

16
00:00:44,120 --> 00:00:47,000
Speaker 1: government shutdown is now tied for the longest in history,

17
00:00:47,040 --> 00:00:50,599
Speaker 1: and the resolution of today's elections may alter the political

18
00:00:50,720 --> 00:00:54,200
Speaker 1: dynamics in Washington. House Speaker Mike Johnson Today is.

19
00:00:54,160 --> 00:00:56,480
Speaker 4: A big election day. We certainly hope for a surprise,

20
00:00:56,560 --> 00:00:59,400
Speaker 4: but I mean it won't be if the Democrats the radicals.

21
00:00:59,440 --> 00:01:02,640
Speaker 4: When some of the elections, every hard working American in

22
00:01:02,760 --> 00:01:05,720
Speaker 4: any place, who's missed a paycheck, anyone who is hurting

23
00:01:05,800 --> 00:01:07,800
Speaker 4: you have a home in the Republican Party.

24
00:01:07,840 --> 00:01:11,240
Speaker 1: House Minority Leader Hakim Jeffries says, the voters will punish

25
00:01:11,280 --> 00:01:13,040
Speaker 1: Republicans at the ballot box.

26
00:01:13,120 --> 00:01:16,440
Speaker 5: The American people are smart, and of course what Republicans

27
00:01:16,480 --> 00:01:20,040
Speaker 5: always do is try to distract the American people, as

28
00:01:20,080 --> 00:01:23,760
Speaker 5: they've done in New Jersey and Virginia. It's over for

29
00:01:23,880 --> 00:01:25,920
Speaker 5: these people, and we're going to see it today and

30
00:01:25,959 --> 00:01:28,880
Speaker 5: we're going to see it during the midterm elections next November.

31
00:01:28,920 --> 00:01:31,680
Speaker 1: The House has been out of session since the shutdown began,

32
00:01:32,280 --> 00:01:34,280
Speaker 1: and it is election day in some states. A few

33
00:01:34,360 --> 00:01:37,920
Speaker 1: key races will show how voters are judging President Trump's policies.

34
00:01:38,319 --> 00:01:41,960
Speaker 1: Former Virginia Governor Terry mccaulliffe tells Balance of Power that

35
00:01:42,000 --> 00:01:44,280
Speaker 1: the shutdown will not help Republicans.

36
00:01:44,280 --> 00:01:46,720
Speaker 6: Republicans rightfull. They are being blamed for the shutdown.

37
00:01:46,760 --> 00:01:49,440
Speaker 2: When I ran for governor in thirteen, Republicans also had

38
00:01:49,440 --> 00:01:50,240
Speaker 2: a shutdown there.

39
00:01:50,320 --> 00:01:51,880
Speaker 6: I went up ten points in the polls.

40
00:01:52,040 --> 00:01:55,040
Speaker 2: We have five hundred thousand federal workers, and we have

41
00:01:55,120 --> 00:01:57,480
Speaker 2: a President Donald Trump who's now saying, well, I'm not

42
00:01:57,520 --> 00:01:59,160
Speaker 2: sure We're going to pay those people back.

43
00:01:59,200 --> 00:02:01,040
Speaker 6: So this is a perfect storm.

44
00:02:01,160 --> 00:02:04,480
Speaker 1: The race for governor in Virginia has Democrats feeling confident.

45
00:02:04,560 --> 00:02:07,840
Speaker 1: Every poll has Democrat Abigail Spanberger in the lead over

46
00:02:07,880 --> 00:02:11,919
Speaker 1: Winsome Earl Sears, the state's lieutenant governor. President Trump gave

47
00:02:11,960 --> 00:02:14,800
Speaker 1: a late endorsement of sorts in a social media post

48
00:02:14,919 --> 00:02:17,600
Speaker 1: to Andrew Cuomo in the New York City mayor's race.

49
00:02:17,840 --> 00:02:21,079
Speaker 1: Bloomberg's Miles Miller says this probably won't be enough to

50
00:02:21,160 --> 00:02:24,280
Speaker 1: chip at the Democratic nominee Zoorron Momdammi's lead.

51
00:02:24,440 --> 00:02:28,600
Speaker 7: Cuomo yesterday had a press conference after that endorsement from Trump,

52
00:02:28,639 --> 00:02:30,760
Speaker 7: and he said it's not an endorsement because I didn't

53
00:02:30,760 --> 00:02:32,800
Speaker 7: ask for it and he didn't speak to me.

54
00:02:32,840 --> 00:02:34,200
Speaker 6: I never spoke to him by phone.

55
00:02:34,240 --> 00:02:37,360
Speaker 1: Bloomberg's Miles Miller in Manhattan. And we should note that

56
00:02:37,400 --> 00:02:40,760
Speaker 1: Michael Bloomberg, the founder and majority owner of Bloomberg Radio

57
00:02:40,840 --> 00:02:44,880
Speaker 1: parent Bloomberg LP, has endorsed Andrew Cuomo for mayor and

58
00:02:44,960 --> 00:02:48,760
Speaker 1: donated to a superpack supporting his campaign. We're also watching

59
00:02:48,800 --> 00:02:50,880
Speaker 1: the governor's race in New Jersey. It could be a

60
00:02:51,000 --> 00:02:55,040
Speaker 1: nail bier tonight for Republican Jack Chittarelli and Democrat Mikey

61
00:02:55,160 --> 00:02:58,880
Speaker 1: Cheryl Bloomberg's Romain Bostik is covering that contest and has

62
00:02:58,919 --> 00:02:59,840
Speaker 1: more from Jerseys.

63
00:03:00,280 --> 00:03:03,680
Speaker 8: This is a state where Independents outnumber Republicans by a

64
00:03:03,680 --> 00:03:07,119
Speaker 8: significant margin and pretty much keepsway with Democrats on pace

65
00:03:07,160 --> 00:03:09,880
Speaker 8: about thirty eight percent to thirty five percent. And those

66
00:03:09,919 --> 00:03:12,440
Speaker 8: folks are the ones that are going to decide this elections.

67
00:03:12,639 --> 00:03:14,360
Speaker 8: Those are the folks that Jack chit Or really has

68
00:03:14,400 --> 00:03:17,000
Speaker 8: been courting, and so too has Mikey Cheryl.

69
00:03:16,960 --> 00:03:20,600
Speaker 1: Bloomberg's Romaine Bostic. In Jersey City and New Jersey, authorities

70
00:03:20,639 --> 00:03:24,040
Speaker 1: did respond to bomb threats at polling stations in seven counties,

71
00:03:24,360 --> 00:03:27,760
Speaker 1: prompting temporary closures as voting started. That's according to state

72
00:03:27,800 --> 00:03:29,720
Speaker 1: Attorney General Matthew Platkin.

73
00:03:30,000 --> 00:03:33,520
Speaker 7: We received by email earlier this morning a number of

74
00:03:33,600 --> 00:03:39,200
Speaker 7: threats to polling places across about eight counties. Law enforcement

75
00:03:39,240 --> 00:03:43,480
Speaker 7: responded immediately at each polling place. They've secured the polling

76
00:03:43,520 --> 00:03:46,360
Speaker 7: places and voters can vote safely.

77
00:03:46,480 --> 00:03:50,640
Speaker 1: New Jersey Attorney General Matthew Platkin on Bloomberg Intelligence flights

78
00:03:50,640 --> 00:03:53,720
Speaker 1: are resuming at Reagan National Airport near Washington. They were

79
00:03:53,760 --> 00:03:56,320
Speaker 1: halted for a time this afternoon because of a bomb

80
00:03:56,320 --> 00:04:00,040
Speaker 1: threat on a United Airlines flight. Transportation Secretary sew And

81
00:04:00,120 --> 00:04:03,400
Speaker 1: Duffy posted on x that the flight from Houston to Washington,

82
00:04:03,520 --> 00:04:06,440
Speaker 1: d C was threatened. The flight landed safely at Reagan

83
00:04:06,520 --> 00:04:10,040
Speaker 1: National Airport. Shares of United Airlines fell nearly five and

84
00:04:10,040 --> 00:04:13,920
Speaker 1: a half percent. Papa John's trading was halted for volatility

85
00:04:13,960 --> 00:04:17,920
Speaker 1: as the pizza chain shares dropped. Reuter's reports Apollo Global

86
00:04:17,960 --> 00:04:20,719
Speaker 1: withdrew its offer to take Papa John's private about a

87
00:04:20,760 --> 00:04:24,320
Speaker 1: week ago. Shares of Papa John's now sixteen percent lower.

88
00:04:24,760 --> 00:04:27,719
Speaker 1: IBM is set to cut thousands of workers this quarter.

89
00:04:27,800 --> 00:04:30,120
Speaker 1: It continues to shift the focus of its business to

90
00:04:30,200 --> 00:04:33,640
Speaker 1: higher growth software and services. Shares of IBM now two

91
00:04:33,720 --> 00:04:37,160
Speaker 1: percent lower. Some Wall Street executives have been warning investors

92
00:04:37,200 --> 00:04:40,280
Speaker 1: to brace for a pullback. Those warnings triggered a slide

93
00:04:40,279 --> 00:04:43,120
Speaker 1: in stocks amid some worries about whether the market has

94
00:04:43,200 --> 00:04:45,600
Speaker 1: run ahead of itself. We do check the markets for

95
00:04:45,640 --> 00:04:47,680
Speaker 1: you all day long here at Bloomberg. The S and

96
00:04:47,720 --> 00:04:51,200
Speaker 1: P five hundred down one point two percent, Nasdaq down

97
00:04:51,279 --> 00:04:54,320
Speaker 1: one point nine percent, The Dow is down about seven

98
00:04:54,440 --> 00:04:57,000
Speaker 1: tenths of a percent, the tenure Treasury yield at four

99
00:04:57,000 --> 00:04:59,360
Speaker 1: point oh eight percent, the two year yield at three

100
00:04:59,400 --> 00:05:03,200
Speaker 1: point five seven percent, and Bitcoin has wiped out its

101
00:05:03,360 --> 00:05:07,680
Speaker 1: summer rally. Shares now nearly six percent lower, briefly dipping

102
00:05:07,760 --> 00:05:10,400
Speaker 1: below the one hundred thousand dollars mark for the first

103
00:05:10,440 --> 00:05:14,480
Speaker 1: time since June. Pallunteer shares more than nine percent lower,

104
00:05:14,520 --> 00:05:17,560
Speaker 1: even after the AI software giant beat and raised in

105
00:05:17,600 --> 00:05:21,200
Speaker 1: its latest earnings. Bloomberg Intelligence senior tech analyst man Deep

106
00:05:21,279 --> 00:05:24,839
Speaker 1: Singh says he'd compare Palenteer's market value to open Ai.

107
00:05:25,080 --> 00:05:28,480
Speaker 9: Why is open ai not valued higher than Palenteer, And

108
00:05:28,839 --> 00:05:31,960
Speaker 9: that question comes up, you know, even though volunteers grew

109
00:05:32,040 --> 00:05:35,599
Speaker 9: as stellar and the quarter was great, but it's just

110
00:05:35,680 --> 00:05:38,760
Speaker 9: not growing as fast as an open AI or anthropic.

111
00:05:38,360 --> 00:05:41,679
Speaker 1: Is Man Deep seeing with Bloomberg Intelligence. Former Vice President

112
00:05:41,720 --> 00:05:44,760
Speaker 1: Dick Cheney has died. Cheney had a reputation as one

113
00:05:44,800 --> 00:05:48,240
Speaker 1: of the most powerful and polarizing vice presidents in US history.

114
00:05:48,640 --> 00:05:51,640
Speaker 1: Dick Cheney was eighty four years old. That's news when

115
00:05:51,680 --> 00:05:54,360
Speaker 1: you want it with Bloomberg News. Now, I'm Amy Morris

116
00:05:54,400 --> 00:05:55,320
Speaker 1: and miss Bloomberg