Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin in Chicago. After the first night of the Democratic National Convention, President Joe Biden delivered an emotional and bitter sweet call for his fellow Democrats to rally behind his Vice President, Kamala Harris. The President touted his legacy while passing the torch to a new generation of Democrats.
I spent the honor of my lifetime the servers or President. I love the job, but I love my country more.
President Biden also pleaded with voters to keep fighting what he called the dangerous ideas of Donald Trump. He said, the Republican nominee is a threat to democracy.
Democracy is prevailed, democracy, democras head delivered, and now democracy must be preserved.
President Biden cast his decision to exit the race as the natural conclusion of a five decade political career. The president did face intense pressure from Democrats and owners to step aside following his disastrous debate performance earlier this summer.
And Nathan Biden's speech followed a surprise appearance on stage from Vice President Kamala Harris, who thanked Biden for his service to the country.
Joe, thank you for your historic leadership, for your lifetime of service to our nation, and for all you will continue to do. We are forever grateful to you.
Vice President Harris also called Joe Biden an incredible President. Biden said choosing Harris as his running mate was the best decision of his whole political career and.
Karen former Secretary of State, Hillary Clinton, spoke last night as well. She is the only woman, aside from Harris, to lead a major presidential party ticket, and Clinton called on Democrats to help Harris break through the glass ceiling.
She will be a fighter for us.
She will fight to lower costs for hardworking families, open the doors why for good paying jobs, and yes, she will restore abortion rights nationwide.
Hillary Clinton also thanked President Biden, saying he brought dignity, decency, and confidence back to the White House.
Well Nathan Donald Trump is downplaying recent criticism that he's undercutting the Fed's autonomy with statements about policy, and Bloomberg's Ed Baxter has that story.
Trump says he thinks it's fine for a president to talk. He says it doesn't mean they have to listen. In an interview with Bloomberg, Trump says he job owned over interest rates with FED chair Jerome Powell. He also says, quote, a president certainly can be talking about interest rates because I think I have very good instincts. That doesn't mean I'm calling the shot, but it does mean I have the right to be able to talk about it like
anybody else. Hi mortgage rates have become a campaign issue, with Vice Kamala Harris on veiling her plan to make housing more affordable last week at Backshirt Bloomberg Radio, all.
Right and thank you.
US intelligence agencies are speaking about the Trump campaign, saying they're confident Iran is behind a recent hack of the operation. Investigators think the attackers gained access to internal documents relating to the former president. They say they also tried to hack the Democratic Party, but it's unclear whether that succeeded.
Now Nathan to the latest on the Israel Hamas war. After his DNC speech, President Biden said he remains hopeful about a ceasefire deal.
It's still a pleasure, but.
You can't predict for this joy so far.
Isnel says they can work about as they prepared, but I was gold I'm off with now back on all, but it makes me see he's going to keep pushing.
And the President and spoke with reporters before leaving Chicago. No.
Secretary of State Antony Blincoln is in the Middle East, Karen. He says Israel has accepted a ceasefire proposal and now he's pressuring Hamas to do the same.
The fierce urgency of now, that's what I think we're all feeling. And we do see this as the best opportunity to finally get this over the finish line.
We'll never give up on it.
But the challenges the longer this goes on, the more hostages will suffer and possibly perish, and the more other things happen that could make things impossible.
Secretary of State Blinken will travel next from Israel to Egypt and Katar to meet with leaders there about next steps. Iran and hez Bellah have vowed to retaliate against Israel for recent assassinations they say it committed, and.
Overnight Nathan Israel said it recovered the bodies of six male hostages and an operation around the city of khanyunis Israeli Prime Minister Benjamin Etanyel, who's said his country will make every effort to return all hostages, both the living and dead. Of the remaining Hamas Davis, at least forty are thought to be dead.
Karen, we would turn now to the latest on a deadly incident off the coast of Sicily. Morgan Stanley International chairman Jonathan Bloomer is among those now confirmed missing after a yacht sank and a violent storm, along with British tech entrepreneur Mike Lynch and his family members. The Italian Coast Guard is leading search operations and has confirmed one person has died. Italian journalist Angela Correas explains how the vessel got in trouble.
According to the eyewitnesses, the sailed boat was moored and also not far from the port, so it wouldn't.
Have taken him long to go to the port.
Just probably they were caught suddenly by a wind a tornado, and this is why the boat come sized.
Italian journalist Angela Corea says Mike Lynch had recently been found not guilty in San Francisco over accusations he committed Silicon Valley's biggest ever fraud during the eleven billion dollars sale of his company to Hewlett Packard in twenty eleven.
Well, Nathan, we want to turn to the markets now, and stocks pushed higher yes yesterday, adding to a rally that's already top three trillion dollars from this month's lows, I mean bests. The Fed will signal it's ready to start cutting interest rates. The S and P five hundred has advanced for eight straight days, its longest winning streak
of the year. Wall Street is looking ahead to Friday's Jackson Hole speech from the FED Chair J Powell and Nadia Lovell, as senior strategist at UBS Financial Services, we want to hear from.
Chair and Powell and how he's interpreting the data and whether will start to get some smoke signals on the potential rate cut in September. Certainly, some of the committee members have been coming out and some of the governors have been coming out suggesting that we could start to see the cutting cycle in September, which we do believe will start.
Nadia level of UBS says, the August jobs report is the next big data point for the FED, and it's time now for a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Denise Pella Greeney. Good morning, Denise, Good morning to you.
New York Congresswoman Alexandria Okaziokot delivering a blistering speech at the Democratic National Convention in Chicago, talking about the difference between former President Trump and Vice President Kamala Harris and I go one and tired of hearing about how a two bit.
Union buster thinks of himself as more of a patriot than the woman who fights every.
Single day and AOC also saying Trump would sell the country for a dollar if it meant lining his own pockets and greasing the palms of Wall Street friends. Disgraced former New York Congressman George Santos, pleading guilty to wire fraud and identity theft charges and also admitting to other crimes as part of the terms of a plea agreement with prosecutors.
Discarded me now that tile oud ambission.
It's a cloud my judgment leading me to make decisions that were unethical.
And Santos to reporters outside the Long Island Courthouse after entering his plea. He faces at least two years in prison and must pay more than a half million dollars in restitution and forfeitures.
Robert F.
Kennedy Junior expected to appear in court today in his fight to get on the ballot for president in the battleground state of Pennsylvania. Democrats angling to force him off in what is expected to be a closely contested race. More from Bloomberg' Jeff Bellinger.
Democratic Party aligned challengers say Kennedy's candidacy paperwork states a false home address, but Kennedy's campaign has dismissed the legal challenge as frivolous. Kennedy is also appealing a judge's decision in New York last week that rejected his nominating petitions because his listed address was a quote sham address. Pennsylvania has nineteen electoral votes, tied with Illinois for the fifth most. Jeff Bellinger Bloomberg Radio.
And Connecticut Governor Ned Lamont has declared a state of emergency in his state. That's after Moore rain yesterday. Following those flash floods and landslides in the state and other part of the northeast Sunday, several people killed in the Connecticut storm. Global news twenty four hours a day and whatever you want it Withburg News.
Now.
I'm Denise Pelligriny. This is Bloomberg.
All right, Denise, thank you. It's time now for the Bloomberg Sports Update with John stash Hour, John Gon Morning.
Good morning, Garen, Mets and Orioles at Cityfield. Met get a two run first ending homer from J. D. Martinez. Gordigan in the fourth didn't score or even have another hit until the bottom of the ninth with the game tie the three the three.
Ohs one on fifty to left center.
This might do it.
Back here the wall it is John put up the Bucks.
Francisco Alvarez were a towering game, wedning.
Hold Rod wc Mes themes despite striking and half fourteen times, beat Baltimore four to three. And they also got good news on Brandon Neimo Mri and his shoulder came back clean that we didn't play last night's day to day Yankees in the AL Central leading Cleveland Guardians tonight at the Stadium. The Yanks in their last thirty home games just eleven and nineteen. AL West leading half Stros made it eleven to last twelve. They beat the Red Sox five to four Astros also for the walk off home
run bottom of the ninth. As expected, the Washington Commanders named rookie Jayden Daniels their Week one starting quarterback, which means Washington over the last eight seasons has had eight different Week one starting qbs. In New England, the feeling was the Patriots would use veteran Jacoby Prissett to begin the season, not rookie Drake May. Now new coach Gerrod
Mayo not ruling out using May at the start. As for Giants starting QB, Daniel Jones had that miserable first quarter in Houston this past Saturday, two interceptions, including a gift rap pick six. His coach is Brian dave Ball.
I thought he made a lot of good decisions as the game went on, made some nice rows and guys created some separation a couple drops, but you know, first time out there after a long layoff live ball, that was good for him.
Preseason finale Saturday Night Life against the Jets. Couple of tennis finals in Cincinnati ONIX Center be Francis Tiafo, Arena Sablenko over Jess Pagoula. Up next to the US Open starting Monday. John Stashedward Bloomberg Sports Careen Nathan.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
This morning, after the first night of the Democratic National Convention. In a speech that lasted well into the night, President Biden made a case for his legacy and for his Vice President Kamala Harris to carry it forward.
I spend the honor of my lifetime the servers or President. I love the job, but I love my country more.
That was the President delivering the valedictory keynote from the United Center last night. Joining us for more. Bloomberg News Managing Editor Derek Wallbank, Derek, good morning. Far from the speech President Biden planned to give just over right around a month ago, but deliver it he did.
Good morning, good morning.
Yes, well, time's changed, and we changed with them, don't we. And indeed that was the case for Joe Biden, not the speech he had planned to give, but the speech that he went with. You can actually see a little bit, Nathan. I think that echoes of the speech that he may may have wanted to give because it served a lot of purposes for Biden. It was a validatory one for him.
It was wondering where he tried to talk about his legacy, and at the same time there was a pivot somewhere in there to where he started talking about Kamala Harris. At one point he described picking her as the best political decision he'd ever made.
Did you hear any distinctions in terms of the direction that Kamala Harris could take Biden policy over the next four years?
You know, Nathan, on day one, I would say I wouldn't. I wouldn't say I heard a massive difference here. You know, you did hear a couple of flicks from some speakers toward the same situation in Gaza, maybe in a in a way that's a little bit differently from how President Biden has been talking about it. But I will say I think in terms of tone this was very different.
There there has been something I'm not This is not my I don't know the first person to notice this, but I do think that this version of a Harris led Democratic Party is certainly more aggressive than it was under Biden and under his predecessors, the sort of Michelle Obama line that she always that she said, you know, when they go low, we go high, and people take that to me, and we're going to go high all
the time. You know, this is this is much more of a Democratic party that's a little bit more willing to be combative. It's more willing to sort of weigh in and ride in the culture. It's it's it's it's much more i would say aggressive in terms of putting its points out and kind of challenging the other side, not wanting to get into that sort of trap of talking about things in the way that Republicans like to
talk about things. And I think all of that is changing this election in a way that the discussion is simple, is simply changing. And I think this is something that the Trump campaign so far is still trying to come to terms with how to address, even as they've seen their standing in the polls decline relative to Harris.
In terms of that more aggressive ton, I wonder if you're alluding to what we heard from Congress Foman Alexandria Cassio Cortes last night, in particular regarding pushing for a ceasefire and an end to the war in Gaza. Could the Gaza war be something of a wedge point for Democrats as they try to put out this unified stance for Vice President Harris.
Well, I do think that it's a difficulty that Democrats have almost against themselves. Nathan Right, It's hard to think of someone who's animating issue is the Palestinian side of the conflict in Gaza, as being someone who's a conflicted Harris Trump voter. Certainly, Trump has been far more aggressive and talking about what he would like to do in that situation, and has been far more condemning of that
position in the protesters thereof Right. At the same point, though, Harris needs all those votes, and if I'm thinking of a place like Michigan with a very very large Arabic expat immigrant population right one and two generations removed, that is a place where all those votes really will make a difference. And that's a thing where you know, Harris and Tim Walls will need to figure out a way to make sure that those voters, however much they may be holding their nose, do come out and do vote
for them. Because if you have a giant pocket of votes around Dearborn, that just simply don't come out at all, or go to third party candidates instead of Takamala Harris Mats in Michigan and states like it starts to get very complicated.
This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
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Listen coast to coast on the Bloomberg Business app, SERIUSXMVI iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and.
I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak