Good morning. I maybe Morris and I'm Karen Moscow. Here are the stories we're following today. President Biden has landed in Israel. He spoke earlier this morning with Israeli Prime Minister Benjamin Netan Yahoo and explained why it was important he made the trip.
Continuely said and outraged by the explosion at the hospital in Cosy yesterday. It's based on what I've seen, that appears as row he was done by the other team.
And that was President Biden who was telling Prime Minister Nettan Yaho that the explosion at the Gaza hospital again appears to have been done quote by the other team, not you. Netan Yaho thanked President Biden for his visit.
Mister President, for the people of Israel, There's only one thing better than having a true friend like you standing with Israel, and that is having you standing in Israel. Your visit here is the first visit of an American president in Israel at a time of war. It is deeply, deeply moving.
Prime Minister Natan Yaho and President Biden will hold meetings the rest of the morning.
President Biden's visit comes following that explosion at a Gaza City hospital that killed at least five hundred people, both sides blaming each other for that. Daniel Gary is an Israeli military spokesperson.
An analysis of the idea for operational systems indicates that a barrage of rockets was fired by terrorists in Gaza, passing in close proximity to the Elhali al Mahdi hospital in Gaza that the time it was hit. Intelligence from few sources that we have in our hands indicates that the Islamic Giad is responsible for the failed rocket launch which hit the hospital in Gaza.
The Israeli military says in the past conflicts, around twenty percent of rockets launched by Gaza militants misfire and land in their own territory. Mahmouda Boss, the President of the Palestinian Authority, is clear on where he believes the blame lies. I got.
What happened tonight is a great tragedy and a horrifying war massacre that cannot be ignored or allowed to pass without accountability. Disaggression against our people must stop and these crimes must come to an end.
Mac Budabas is President of the Palaestining and Authority, speaking through an interpreter.
Well after the hospital explosion, amy President Biden's schedule meetings with Arab leaders were canceled. One Biden administration official says the decision to cancel the Jordan part of the trip was mutual. National Security spokesman John Kirby is traveling with the President and he says Biden is meeting with Israeli Prime Minister Benjamin and Yahoo to discuss, among other things, that deadly hospital blast.
These outraged said, we're all shocked by the horrific loss of life.
The numbers are staggering for a single event.
And Kirby says humanitarian aid for Gaza is also top of the agenda.
We want to see humanitarian assistants flow in and it's not just a one and done.
We want to see it be able to be sustained.
Food, water, obviously, electrical power, medicine, all the things.
That the people of Gaza are going to continue to need.
National Security spokesman John Kirby says the President will also meet with Israeli first responders and families of those who lost or taken hostage in the Hamas assault.
The hospital explosion will complicate efforts to contain the conflict. Daniel Kurtzer is the former US Ambassador to Israel.
The trading of blame doesn't change the fact that hundreds of people have been killed, and the president will be landing in the midst of an escalation in the humanitarian disaster, which does change the narrative. So it's going to be a much more challenging trip than even it was before this event.
Former US Ambassador to Israel Daniel Kurtzer made those comments on Bloomberg's balance of power well.
L amy overshadowed by Israel's conflict with Hamas is a meeting this morning between Russian leader of Vladimir Putin and China's Shijin Ping in Beijing. They were both there to mark the tenth anniversary of China Global Infrastructure Push, and here's Putin speaking through an interpreter.
Russia and China, as well as the majority of states of the world, share the aspiration for exo and mutually beneficial corporation in order to reach comprehensive, sustainable and launch term economic progress.
And Russian leader Vladimir Putin endorses She's Signature, Built and Wrote initiative as a sweeping alternative to the US led world order.
And back in the US, we want to update you on the latest developments on the battle for the Speaker of the House. It appears Congressman Jim Jordan's bid maybe in trouble. Bloomberg's ed Baxter with the latest.
The first round vote was an unmistakable rebuff. He lost much worse than Kevin McCarthy did in his voting rounds. He will need to flip sixteen votes to gain the gabble, and a second round has been scheduled for eleven o'clock Washington time this morning. Jordan has been working the phones, but the objections being expressed are the fears of how he will govern and ties with Donald Trump. Ad Baxter, Bloomberg Radio.
All right, and thank you.
Turning to the markets, earnings continue to roll in, with more than twenty companies in the S and P five hundred, including Netflix and Tesla, reporting well. Also here from Morgan Stanley this morning. Morgan Stanley's earnings come a day after Bank of America reported its best third quarter results in more than a decade. CEO Brian moynihan tells Bloomberg he sees the feed achieving its goal of slowing consumer spending.
Frankly, the FED has won the battle of the American consumer and they're slowing down. And the question is what happens next to can't predict, but this this is a four trillion dollar base three to four hundred million dollars of months, So think about it's hard to move around a lot. So once it slows this level, it's probably not going to kick.
Right back up.
And Bank of America's CEO Brian moynihan says more affluent customers are now shifting excess savings to products.
With higher yields. And this is Bloomberg.
Thank you Kier in time NOL for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker. Good morning, John, Good morning Amy.
Tuesday's hospital blasted Gaza City, triggering protests across the Middle East overnight, from the West Bank to bay Rout and east to Jordan. Some trying to storm the Israeli embassy in i'm On. Security forces used tear gas to disperse
the crowd there. Protesters in Iran also marched outside the French and British embassies, setting fire to Israel's flag Former President Donald Trump returned to his two hundred and fifty million dollar civil fraud trial in New York yesterday, still fuming about the partial gag order issued Monday in his election interferous case in Washington that he's now appealing now a candidate is.
Running for office and I'm not allowed to spee.
A judge, Tanya Chunkin wrote she cannot imagine any other criminal case in which the defendant is permitted to call the prosecutor deranged or a thug. In addition to his civil case in New York, Trump has face ing four criminal cases. Another member of Sam Bankman Freed's inner circle took to the stand in the fraud and conspiracy trial
of the FTX founder. Nishan Singh testified for a second day, telling a New York cortroom he was uncomfortable with the super ostentageous thirty million dollar Bahamas penthouse the company bought as a corporate crash pad. Singh frequently said he disapproved of Bankman Freed's actions, but didn't always take action. Russian President Vladimir Putin accepting an invitation from Vietnam's president to visit the Southeast Asian country. Soon. That's according to a
post on Vietnam's government website. The visit would follow President Biden's trip to Hanaui in September, during which Vietnam formally upgraded ties with the US to a comprehensive strategic partnership. Texas Attorney General Ken Paxton's office says it's reviewing whether ten financial companies, including Bank of America and JP Morgan Chase, violate a Republican backed state law punishes firms for restricting their work with the oil and gas industry because of
climate change concerns. The prohib is one of Paxston's first major actions since his return to the Attorney General's office after facing impeachment proceedings earlier this year. Global News twenty four hours a day, Power buy more than twenty seven hundred journalists and analysts in more than one hundred and twenty countries. I'm John Tucker, and this is Bloomberg Amy.
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Thanks Amy.
Second year in a row where the Phillies couldn't win the division can't lose once they get to the National League Playoffs. Yeargo, they finished third in the nl He still won the pennant this season, fourteen games behind Atlanta, but they beat the praise of the division series and they're now up to nothing on Arizona in the NLCS. The Phils one game two, ten to up, being two home runs for Kyle Schwarber. The Phillies are seven to one this postseason. Texas Rangers are seven and oh. They
host Houston tonight. Came three of the ALCS, and Max Surzer starts for Texas, back from injury. Hasn't pitched in more than a month. Speaking of injuries, Aaron Rodgers has a torn achilles expected.
To end his season.
While Rodgers told the ESPN yesterday that he still has many hurdles to clear before playing his Jets, cook Robert Salas said, if anyone can do it, it's Roger.
He's definitely one of those individuals who's fueled by doubt. You know, if you doubt him, it only makes him stronger because he's got this Oh you're telling me I can't do something. I'm going to show you I can and he's going to prove you wrong. And so he's got a tremendous drive and a tremendous mind to them.
Jetzeba Byewake Giants. Sunday hosts Washington Giants, and two home games this season have been outscored sixty four to three.
At the You Yes.
Arena, Matthew Barzels scored on the powerplay second period that was ed Islanders a one nothing went over Arizona and Boston Celtics won a preseason game from the Knicks, who sat out most of their top players. Nixon Celtics will tip off the regular season one week from tonight at the Garden at Barkley is Tonight, Game four the WNBA Finals. The Aces lead the Liberty to one for Las Vegas another chance to win the championship.
John Stashwer in Bloomberg Sports.
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Good morning, I Amy Morris. President Biden is in Israel on a trip that will likely be overshadowed by an air strike on a hospital in Gaza. Let's bring in Bloomberg's Roz Matheson in London with the latest en Roz. As you know, earlier this morning, the President already had a sit down with Israeli Prime Minister Benjamin Netanyahoo and during those comments he said, quote it appears it was done by the other team and not you. Our reference of course to that air strike on a hospital in Gaza.
Where does that leave things now as far as the President walking this type wrote between showing support for Israel and at the same time reassuring the people of Palestinian.
Well, certainly we can expect that he's going to be showing strong support for Israel.
The US is a key ally of Israel.
They've been sending some military aid in and obviously the frenzy of diplomacy being led by the US Secretary of
State in recent days in the region. But the reality is they are also coming up against that rising anger in the Arab world about events inside Gaza, the unfolding scenes of humanitarian despair there by many people, and now this attack on the hospital, and regardless in away of what was the cause of it, the narratives are set and are hardening very much on either side about it, and so Biden making that comment doesn't necessarily change anything
from the Arab world point of view. We're seeing protests breaking out around Israeli buildings and other establishments in the Arab world today. We're seeing that also in places like Turkey, for example. So certainly it's a very very careful balancing act that US President needs to strike here because he
does want to show support for Israel. Israel was attacked by Hamas inside their own lands, with Israeli civilians killed and kidnapped as part of that, you know, only a few weeks ago, so he does want to sort of show support and solidarity for Israel in that moment, but also to sort of caution about the unfolding catastrophes that we're seeing inside Gars and possibly the risks that might be involved from a full scale ground invasion of Gars.
That both the humanitarian question for those people living there, but also the risk it brings in other actors in the region.
Okay, let's talk about that. This looks like it may be harder than expected to contain this conflict. It definitely complicates efforts. What's the next step?
Well, that's right, because the US President was scheduled to go on to Jordan where he was going to meet with various leaders from Egypt, and the Palestinian authority in that meeting's now counseled, and so the Jordan leg is off. And as I said, there's that rising rhetoric from countries, including Egypt and obviously Iran around all of this.
So what is the off ramp there?
We know the US is saying this publicly, which is unusual for them, that they are doing a lot of back channeling at the moment, including with Iran, urging them not.
To get pulled in, urging them not.
To use hesblah, which is sort of their tool in the region to attack Israel because of that risk of a wider conflict. But certainly it seems minute by minute the US efforts alongside others there to contain that are becoming more and more common.
Implicated, is that a signal we should be paying attention to then, raz that other leaders in the region have made this decision to not meet with the president while the president is actually there.
It's very, very difficult in the aftermath of that hospital attack, regardless again of what was the cause for them to do so, and certainly the Palstian Authority chief made that decision a way on behalf of all of them.
But that doesn't mean that comms are not happening.
We've seen the German chancellor meeting, we see see of Egypt today. There are those comms going on and certainly extensively back channeling. But again, just because things are so fraught and so tense, the idea of off ramps here becomes more complicated.
And so what does that look like?
Do you agree in the end that Israel can do more targeted attacks on Gaza versus a full scale ground war. Is that something that everybody would agree is sort of a something of an off.
Ramp or is the moment for that just passed? Its very difficult to know.
Is that the most the president can accomplish then is try to convince other leaders to make sure that this does not start to expand and that this is contained instantly.
The other priority is to try and open some of the humanitarian corridors for Gaza, because.
Right now very little aid is getting in.
We're talking about people who don't have access to drinking water, who need medicines and so on, and also the issue of a people who are in gas who want to leave and are trying to get out to go through Egypt. So big focus of it will be can there be a way to safeguard a humanitarian corridor of sorts, and then also the imperative of course to try and keep things on a cooler footing in the region.
More broadly, you're listening to Bloomberg Daybreak to day, your morning brief on the stories making news from Wall Street to Washington and beyond.
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