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, let's begin with the presidential race and a fast moving campaign for Vice President Kamala Harris. Less than two days after President Biden withdrew from the campaign, the vice president has crossed the magic number of nineteen hundred and seventy six pledge delegates to clinch the Democratic nomination. That's
according to an unofficial tallly from the Associated Press. Harris told staffers at her new campaign headquarters in Wilmington, Delaware, that she intends to earn and win the nomination.
Over the next one hundred and six days. We are going to take our case to the American people, and we are going to win.
Vice President Harris Scott President Biden's backing in a call to the HQ.
The name has changed the top of the ticket, but the mission hasn't changed at all. And by the way, I'm not going where I'm going to be out there in the campaign with her. With Kama I'm going to be working like cal both as a sitting president, getting legislation passed as well as in campaigning.
And this morning, the Harris campaign has announced it raised more than one hundred million dollars between Sunday afternoon and last night from more than one point one million donors, sixty two percent of whom were first timers. Vice President Harris has her first full fledged rally as a presidential candidate later today in Milwaukee, where Republicans just held their convention last week.
And soon Nathan Harris will need to recommend a running mate to delegates ahead of the Democratic National Convention in Chicago, and Larry Sabado, director of the University of Virginia Center for Politics, lay's out our options.
I'm old fashioned. I think that you want to have a balanced ticket. So you picked somebody who's not like you but can appeal to other segments of the party and the population. And this is all about electoral votes. You know, you can talk about anything you want to, but you win when you get two hundred and seventy electoral votes. So you pick somebody who can win electoral votes.
To me, that means Governor Shapiro Pennsylvania that's nineteen electoral votes, or Governor Cooper of North Carolina that's sixteen electoral votes. Or Senator Mark Kelly from Arizona. That's eleven electoral votes, plus he's already known because of his astronaut career.
Larry Sabadomi the comments on Bloombergy's balance of Power. Catch the program weekdays from noon to two and again at five pm on Bloomberg Radio and Television.
Well, meanwhile, Karenburry publican vice presidential nominee jd Vance use his first solo campaign rally to slam both Kamala Harris and Joe Biden.
Now, history will remember Joe Biden as not.
Just a quitter, which he is, but one of the.
Worst presidents in the United States of America. But my friends, Kamala Harris is a million times worse and everybody knows it.
Speaking his hometown of Middletown, Ohio, jd Vance also said the border crisis is a Kamala Harris crisis.
Well, turning to the markets, now, Nathan futures are lower a day after all three major indexes started the week with gains that end of the day above forty four hundred and ed Yard Denny, President at Your Denny Research, she's the blue chip index going much higher by the end of the decade.
It's not a stretch to believe that over the remaining decade we can get to sixty thousand. And I've got the S and P five hundred going to eight thousand, so it's a bull market. Just take a look at a long term chart of the S and P five hundred, and what you see is that bear markets occur every now and then, but they don't last very long, and that the fundamental trend of the market is upwards along with the economy.
Ed Your Denny of Your Denny Research says earnings, not politics, will drive the markets going forward.
And speaking of earnings, Karen, we get results from two of the so called Magnificent Seven today, one of which is Tesla. We get a preview from Bloomberg's Tom Busby.
Despite some massive staff reductions and a better than forecast number of deliveries in the second quarter, operating margins at Tesla, which could shrink for a sixth quarter in a row, will be a major focus for investors. Also signs of a rebound in China, which may point to a better
second half of the year. The real drama will come on the earnings call, where Tesla is expected to give an update on the progress of its long delayed Robotaxi and any plans for a more affordable next generation vehicle. For Q two, consensus calls for adjusted earnings per share of sixty cents revenues of twenty four point sixty three billion. Tom busby Bloomberg Radio.
All right, Tom, thanks. So we'll also hear from Google parent Alphabet after the closing bill, and that company is making news on another front. Alphabet's twenty three billion dollar offer for cybersecurity startup Whiz has been rejected. Instead, Whiz is sticking with a plan for an initial public offering. The rejection is a blow to Alphabet. It's trying to catch up with Microsoft and Amazon the competitive cloud services market.
Man Caren, we continue to watch the fallout from last week's global it meltdown. Now the CEO of CrowdStrike is being called to testify before a House committee. Let's get the latest from Bloomberg's John Tucker, John.
Niate, Congress swans answers, and things could get heated for CrowdStrike CEO George Kurtz. In a letter to Kurtz, the leaders of the House Committee on Homeland Security say less than one day we've seen major impacts to key functions of the global economy, and Americans deserve to know and detail how this incident happened. In the mitigation steps CrowdStrike is taking well, it doesn't stop. There other Congressional committees
of as company officials for briefings. Last week's outage was blamed on a defect and a software update and impacted CrowdStrike customers using Microsoft Windows. Congress does have the power to compel testimony by issuing subpoenas, but usually first assd potential witnesses to appear voluntarily. CrowdStrike shares fell over thirteen percent yesterday after eleven percent trot John Tucker Bloomberg Radio, All.
Right, John, thanks and that technology outage still having a major impact on Delta. The airline says it expects to cancel more flights this week. Delta has already grounded almost forty seven hundred flights since Friday's meltdown, more than half of Delta's worldwide. It relies on Microsoft Windows operating system, which was affected by the Crown to Strike software error.
But it's time now for a look at some of the other stories making news in New York and around the world, and for that We're joined by Bloomberg's Michael Barr.
Michael, good morning, Good morning, Karen. The Secret Services director says the roof where a shooter opened fire at Donald Trump's Pennsylvania Rowley was identified as a potential vulnerability days before the event. Director Kimberly Chetle made the comments as she was grilled by lawmakers over the July thirteenth assassination attempt against Trump. Cheedle told lawmakers during a congressional hearing. We failed.
We must learn what happened.
I will move heaven and earth to ensure that an incident like July thirteenth does not happen again.
Cheadle was slammed by both sides of the aisle, Democratic Congressman Jamie Raskin and Maryland.
The Director has lost the confidence of Congress at a very urgent and tender moment in the history of the country, and we need to very quickly move beyond this.
Yesterday, Republican lawmakers visited the site in Butler, Pennsylvania, where the gunmen tried to assassinate the former president. House Homeland Security Vice Chair Michael guest I.
Joined many other members of Congress and calling forward the resignation of Director Cheaterle. She must resign immediately for the good country and for the good of the department that she serves as secret Service.
Me while some members of Congress are filing impeachment charges against Cheatle, an FAA investigation is ongoing after a small plane crashed in Long Island MacArthur Airport, killing two men, a pilot and passenger. The single engine be each craft crashed near the end of the runway at the airport last evening in Iceland. Suffolk County Police say, according to a witness, the plane took off and then for some unknown reason, attempted to return to the airport when it crashed.
The families of American hostages held by Hamas met with National Security Adviser Jake Sullivan at the White House ahead of Israeli Prime Minister Benjamin Netanyaho's addressed Congress tomorrow. The Israeli leader is in Washington. The families demanded that net Yahoo accept the peace deal to free the hostages. Rachel Goldberg Poland is the mother of American ostriche Hirsch Goldberg.
Poland, announcing that he is ready to be doing this deal that has taken many many, many months, many hours, too much pain.
Meanwhile, net Yahoo would meet with President Biden later this week. Global news twenty four hours a day and whenever you want it with the Bloomberg News. Now, Michael mar this is Oberg Carrott.
Sorry, Michael Barr, thank you time now for the Bloomberg Sports Update with John stash Hour.
John, good morning, Good morning, Karen. Mets and Yankees played a two game Subway series a month ago at Cityfield. That's one of both, nine to seven, twelve to two. Now it's two games in the Bronx tonight and tomorrow. Yanks just got their sixtieth win. They hit five home runs, none from Aaron Judge. DJ Lemayu batting just one eighty one hit his first of the season, Anthony Volpi's first
homer since mid May. Austin Wells went yard early. One Soto hit went out seventh, and in came up again in the eighth.
Here Sono and he swings and drives it deep into right field, and it is god. A hold run onto the porch, a laser shot off the bat of one Sodo. We continue to watch greatness from the sensational walk.
A three run Jackie.
To the porch, you'd right, and the Yankees are ahead.
Ninety one WCBS. That was the final over Tampa Bay. Carlos were done, ending a personal five game losing streak. When seven in is allowed, only two heads struck out ten. David Peterson now five and oh for the Mets six to four win at Miami. Jeff McNeil a two run home for Francisco. Theendor homer twice, and the Mets and the Yankees both come out of the All Star Break, splitting the four game series. The Red Sox since the break zero to four, lost a wild one at Colorado,
nine to eight in twelve innings. The day began for Lebron James with news he will carry the flag at Friday's Olympic opening ceremonies in Paris. Chosen in a vote of the near six hundred US athletes. Lebron called it an incredible honor. He then scored the last eleven US points as they won their final tune up ninety two to eighty eight over Germany. Their first Olympic game is Sunday against Serbia. NFL training camps opening up in Green Bay.
It's without starting quarterback Jordan Loved to make ten and a half million dollars this season. That's way below what starting QB's Make Love is holding out until he gets a new contract. Started the US Junior Amateur golf outside of Detroit Tiger Woods. His fifteen year old son, Charlie struggled with John Stash Edward Bloomberg Sports.
Karen 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.
Well, the pieces are quickly falling into place for Vice President Kamala Harris and her sudden presidential campaign. Just a day after President Biden ended his run. Harris has picked up more than enough delegates to clinch the Democratic nomination, and she is about to head out for her first rally as the presumptive nominee. Joining us for more as
Bloomberg News Senior editor Bill ferries. Wow, Bill, politics can really turn on a dime at least now, We've just got word from the Harris campaign that it's raised more than one hundred million dollars since Sunday afternoon. Can we talk about momentum in this race.
Now, Yeah, Nathan, thanks for having me. I mean, it's clear, if anything, there there was a lot of money sitting on the sidelines in the past several weeks after Joe Biden's disastrous debate performance and then even more recently the assassination attempt on Donald Trump. Clearly there are a lot of doubts on the Democratic side, and this shift to Kamala Harris has really pumped up the enthusiasm and the willingness of donors both small and large to open up
their pocketbooks. Here one hundred million dollars, I mean, it's dwarfing what the Biden had camped, but Biden campaign had raised in the last month that they had the report, and we're just talking about basically forty eight hours here. So she is definitely having kind of a best case
scenario when you look at the first two days. She's going to try to keep building on that with you know, her speech later today in Milwaukee and in the base, you know, try to keep going in the one hundred days or so we have before this election, it's really going to be everything's going to seem like it's on fast forward for us.
Does.
Harris still facedoubts though from some wings of her Democratic Party. We did hear from Senator Manchin saying he'd still like an open nominating process, he'd like to have the voices of more centrist wing of the Democratic Party heard as well. And we still haven't gotten a formal or formal endorsement from former President Barack Obama, among others.
Yeah, you know, I think Joe Manchin, I think he's switched to being an independent. I don't know if he's re registered as a Democrat at this point. I think there there probably are some pockets out there. The overwhelming number of delegates or states that have been pulled so
far seem to be going into the Harris camp. I suspect when you talk about, you know, support from different wings of the party or the areas of the parts that may have some reticence to this quick nomination, I think you're going to see some of that play out, perhaps in the vice presidential selection process. I think you'll have the different sides of the Democratic Party weighing in on who they think would be the best pick. But
you know, there's a pretty good bench there. I think Harris has to choose from and she does have some time to make that decision, so a lot of these voices are going to be heard or at least get a chance to make their case in the coming weeks.
That was interesting as well to hear from Vice President Harris at her new campaign headquarters yesterday talking about how she plans to prosecute the case against former President Trump as she gets ready for a head to head matchup.
Yeah, she said, you know, she was attorney general in California. She said that she took on perpetrators of all kinds and then say, so hear me when I say I know Donald Trump's type. You know, I think those of us who helped cover the twenty twenty election remember her having some strong, very strong moments in the debates. Her Her campaign actually struggled, and I think she left before the primaries, but she had a strong performance against Joe
Biden in fact, in one of those early debates. I think there's a lot of interest in seeing how she and Donald Trump would match up. They had originally they were supposed to be a debate in the first half of September. Will it remains to be seen whether that is still on the schedule, But I think the Harris Camp will be looking forward to that.
And in just thirty seconds Bill, we also heard from JD. Vance saying Democrats are a threat to democracy now that they've essentially pushed for President Biden out. How potent is that argument?
Yeah, it's something. I think that we'll have some traction on the Republican side, but I think it's going to have traction with people who are probably already on the Trump vance train. I don't know that you're gonna win over a lot of voters with that. When you go into the polling booth on primary day, you're actually voting for are the delegates not the candidate? So I think you know those delegates are the ones who will ultimately make the choice at the convention.
This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
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I'm Karen Moscow.
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