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 began in Chicago for nine two of the Democratic National Convention, taking center stage former President Barack Obama and former First Lady Michelle Obama. The Chicago Natives highlighted Kamala Harris's vision for the country while directing sharp jabs at former President Trump. Former President Obama praised Harris as the party's future.
Discourage and conflict, fighting disease, promoting human rights, protecting the planet from klimate change, the feminine freedom, Brooklyn peace.
That's what Kanada.
Harris Bill is, and so the most America.
And the former president called Donald Trump a billionaire who has not stopped whining about his problem since he sought the presidency in twenty fifteen.
There's the childish nicknames, the crazy conspiracy theories, this weird obsession with crowd sizes.
Along with Barack Obama, his wife Michelle drew huge applause with a jab at Trump's promise to deliver more quote black jobs.
Who's gonna tell him, Who's gonna tell him that the job he's currently seeking might just be one of those black.
Jobs, and along with Michelle and Barack Obama, featured speakers on the night included Vermont Senator Bernie Sanders and Illinois Governor J. B.
Pritzker.
Well Nathan After making a surprise appearance on the first night of the DNC, Vice President Harris was absent last night, but she wasn't too far away. Harris and her running mate Tim Watz, We're holding a campaign rally in Milwaukee. The Harris campaigns hoping to rebuild the multi ethnic, multi generational coalition that elected Obama twice. And in the latest Bloomberg Morning Consul pull Harrison Trump or in a statistical dead heat in the swing states that will likely to
sign November's election. The statistical margin of error is plus or minus one percentage point across the seven swing states.
Meanwhile, Karen Trump is testing out new messaging for his third presidential campaign. Bloomberg's At Baxter has that story.
Trump is trying to change his strategy midstream, with the other side talking about unity and about him being a divisive figure participating in culture wars, so he is now saying he is not radical. Quote, I'm just a common sense person that has been successful. Common sense. He's been in Michigan talking that regarding law enforcement.
This is a very dangerous time that we're in.
It's dangerous in terms of crime and all, but it's very dangerous in terms of impossible World War three.
He also says about the party Conservative, Yeah, I guess conservative. It doesn't matter at Baxter Bloomberg Radio.
Right, thank you, and as the name gets to know, Trump's running mate JD. Vance, along with Harris's running mate Tim Waltz, the Ohio Senator, is off to a rockier start. A new poll from the Associated Press and NRC Center for Public Affairs Research shows about one third of American adults have a favorable view of Waltz twenty seven percent have a positive view of Vans. Both are well liked within their parties, but significantly more adults have also have
an unfavorable view of Vance than Waltz. The poll's margin of area is plus or minus three point eight percentage points. Waltz speaks at the DNC tonight on.
Nathan turning to the Middle East. Now, US Secretary of State Anthony Blincoln left the region after failing to secure a deal to stop the fighting between Hamas and Israel. Before boarding a plane to Washington, Blincoln emphasized an urgent need for a peace deal.
Our message is simple, it's clear, and it's urgent.
We need to.
Get the ceasefire and hostage agreement over the finish line, and we need to do it now.
And Secretary of State Blincoln met with Egyptian and could try officials before returning home. It marked is Nei the trip to the Middle East since the war began last year.
Well, saying overseas, Karen, we continue to follow the tragedy off the coast of Sicily. British tech tycoon Mike Lynch is one of six people feared dead after a storm sank the luxury yacht they were on. Earlier this week. Morgan Stanley International chairman Jonathan Bloomer is also among those missing six. The Italian Coastguard says it will continue the search for the sunken wreckage today.
Well, turning now to the economy, Nathan, Traders are gearing up for a key speech from FED chair j Powell at Jackson Hole this Friday. Bond traders are currently taking on a record amount of risk with leverage positions in Treasury futures sitting at an all time high. It marks a big bet that the Fed's readying to cut interest rates. Bloomberg Chief economist Anna Wong says she expects Powell to deliver a dubvish signal on Friday.
I think Powell will declare that the balance of risk between the full employment and at price stability mande is about e now, and we have complete the economy has completed the process of normalization, and basically he just I think it's a green light for right cuts in the future.
Bloomberg Chief economist Anda Wong says traders will get further clues on possible cuts later today when the FED issues minutes of July's policy meeting. Make sure to catch a special edition of Bloomberg Surveillance Lie from Jackson Hole That's Friday, starting at nine am Wall Street Time on Bloomberg Radio and television.
The Karen Traders are also closely following Fed speak for more clues on potential right cuts. FED Governor Michelle Bowman said she would support decreases if growth in prices slows further. Bowman spoke at the Alaska Bankers Association Anchorage. She also warned of upside risk from geopolitics and increased housing.
Demand, and turning now to a key ruling in Texas Nathan, a federal judge has ruled the US Federal Trade Commission cannot enforce its near total ban on non compete agreements because the agency lacked the thirty to enact the rule. Judge Ada Brown in Dallas said the FTC's rule is unreasonably over broad. It prevents the agency rule from going into effect in September. The FDC said it's considering a potential appeal.
Let's get to some company news now. Karen Walmart raised as much as three point seven billion dollars selling its stake in Chinese e commerce firm JD dot Com. The company's Hong Kong listed shares fell as much as twelve percent on the news. It's assigned Walmart is refining its strategy in China, which continues to face economic headwinds well.
Also on the company news from Nathan, Netflix shares hit their first record in three years, taking out a high that stood since late twenty twenty. It comes after the streaming giant disclosed on more than one hundred and fifty percent increase in upfront ads sales commitments compared to twenty twenty three.
And we got some big news this morning for our listeners in New England, Karen, because Bloomberg one oh, six' one and thirteen thirty are moving to ninety two nine FM this morning. But September third is when you can start listening to Bloomberg Radio in and around Boston on ninety two to nine FM, your new source for business news from the financial center of New England. Bloomberg Radio coming to ninety two nine FM noon the day after Labor Day.
Ye time over look at some of the other stories making news in New York and around the world, and for that were joined by Bloomberg's Michael Barr Michael, good morning, Good.
Morning, Karen. There were other speakers as well. During the second night at the Democratic National Convention. Senator Chuck Schumer of New York agreed with former President Barack Obama and First Lady Michelle Obama this is not the time to sit back and coast. After his speech, the Senate Majority leader spoke to ABC.
Nobody does it better than Obama, but Michelle came real close. I mean, they were incredible and appealing both to the the problems of what a Trump administration would do.
On Monday night, New York Representative Alexandria Ocassio Cortes spoke calling on Democrats to make history on November fifth. Now that New Jersey Senator Bob Menendez is now out of a job after his conviction on corruption charges, Senators have to figure out who will fill his seat on some powerful committees. Senate Democrats will likely use and interim appointee to fill those seats on the Finance, Banking, and Foreign
Relations committees when the chamber returns early next month. An emerging short term option would be to hand the assignments to Democratic Senator designate George Helming, who new Jersey Governor Field Murphy appointed as a temporary replacement through the November general election. An explosion destroyed a Pennsylvania house, killing one person and injuring another. Firefighters in Lackawana County put the flames out at home in Jefferson Township. This neighbor felt the blast.
I was mowing my backyard and I was head of this direction and basically just a huge boom.
Investigators initially leave a pro pane leak in the home caused the blast. And Independent Commission released its report on the serial shooting in Lewiston, Maine, last October, which killed eighteen people and injured thirteen others. Dan Wathaon, chairman of the Independent Commission that investigated the shooting, says Robert cart was solely responsible for the shooting spree, but saying opportunities
weremissed before the attack. Watham says the Army Reservist superiors failed to share information with the local sheriff's office about cards threatening and aggressive behavior and his collection of guns.
The Army Reserve neglected to share all the information relating to cards threatening behavior with the sheriff's office and discouded some of the evidence about the threat He polls.
Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barne. This is Bloomberg.
Hearen, hurry, Michael Barr thank you Bes. Time now for the Bloombergs Update with John Stashauer.
John, good morning, Good morning, Karen. With extra innings continuing to begin with the runner at second base. Games don't normally last twelve innings anymore. Of the Yankees and Guardians did go twelve at the Stadium, longest game played in the Majors this season in Cleveland, erupted with six runs in the twelfth David fry At a three run trip with the Guardians one nine to five, a game that saw sixteen different pitchers used. Thirty two runners were left on.
Bajuan Soto and Aaron Judge began the night with back to back first hitting homer, Soto's thirty fifth the season to tire career high number forty five for Judge. The rare knight that saw both New York teams play at home at Cityfield. Baltimore led seven to one in the fifth inning. Mets scored four in the eighth JD. Martinez At a three run homer, but the Orioles won nine to five, and they moved back ahead of the Yankees
into first place in the Al East. Mets fall two and a half behind Atlanta for the last playoff spot. Braves beat the Phillies three to one. Atlanta just lost third baseman Austin Riley for the rest of the season broken hand. They have signed one time Yankee, Geo or Sela. He just got released in Detroit Red Sox, the ex met Dom Smith. The Stots one, six to five in Houston. Jaron Durant four hits, including the go ahead home run
eighth inning. Jets the Giants course Sheriff Stadium. They'll play a preseason game there on Saturday today, a joint practice between the two New York teams. Here's Aaron Rodgers.
Excited to see see Elik. You know, see what he's on about. A good opportunity for end. We're going to get some, you know, our premier corners. And anytime you get teams together, it's always interesting you see how it shakes out as far as you know, personalities and pushing and shoving, and there's you know, there's a fear of somebody throwing a punch.
And Rodgers was referring to the Giants. Rookie white Out maleak Neighbors US Open starts Monday. Yannie Center is the men's top seed. He tested positive for steroids this past spring, but it's been ruled and it was in his system unintentionally. Center will be allowed to play the Open. John Stashed wear Bloomberg.
Sports Coast to Coast on Bloomberg Radio, nationwide on SEREA XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Night two of the Democratic National Convention saw Barack and Michelle Obama energize the crown in Chicago with a rousing endorsement of Kamala Harris and a warning about Donald Trump.
We do not need four more years a bluster and bumbling and chaos. We have seen that movie before, and we all know that the sequel is usually worse.
For more.
This morning, we were joined by Lindsay Newman, geopolitical risk expert and calumnist for G zero Media. Lindsey, good morning. We heard the Obamas sort of try to recapture that energy from two thousand and eight. Can Kamala Harris carry that forward?
Good morning morning, Nathan, Thanks for having me on you. This week's Democratic National Convention, as you say, represents a big test, and it's fair to say that Democrats have'sen a massive reversal and fortune over the last month. By most accounts, just about a month ago, six weeks ago, Donald Trump was slow walking to that sequel in November that we heard at the start here, and now the
storyline has totally changed. I've heard people reflect on what's going on on the ground and the DNC as Democrats having faced a near death experience, Harris now head to head with Donald Trump. And of course, last night's theme around a bold vision for America, as you say, was headlined by the Obamas, who really wrapped Harris in this brand of hope that was so powerful when Obama ran for president in two thousand and eight the first time. And Harris's campaign has to be thrilled with how well
the Obamas told it last night. You know, they contextualized her this moment. They embraced Harris's candidacy, saying that Harris is here for you. Michelle Obama said, the narrative is about her story is your story, and so that was a you know, this is a big moment for the campaign last night.
I want to bring in a little bit more of what the former First Lady had to say as well, her warnings about the potential impact of former President Trump on this race. Let's listen to that.
If they lie about her, and they will, we've got to do something. If we see a bad poll, and we will, we got to put down that phone and do something.
Till now, there's been some downplaying of the idea of a threat to democracy that former President Trump poses, at least as the Democrats see it. What did you make of the message from Kamala Harris last or I'm sorry for Michelle Obama last night.
Well, one of the big storylines that Michelle Obama clearly transmitted was that time is short. Barack Obama said, the job is, there's a job to do. It's only eleven weeks. Michelle said, you know, don't mind the foolishness if somebody hasn't called you up and said register to vote and
get out to vote. It's time to do the work, you know, to do something and can I just are typically the sort of electrifying, unifying moments, but how well Harris holds together this party, including around fault line issues that are we're seeing along the sidelines Israel, Gaza, but also really begins this final campaign push, you know, after Labor Day, more eyes will be tuned in. Harris's fairy tale summer may come to an end. Whether it's a
fairytale fall, we'll find out. But she's going to quickly be taking that debate stage against Donald Trump. Voters are going to be seeing her side to side, it's going to become much more focused in on policy and nuts and bolts. Barack Obama tried to sort of head this off by saying in his speech, you know, it's not really about policy or program, It's really more about what we all yearn for this America that is returning to America that.
They knew before.
But this is the reality of what lies ahead over these next eleven weeks.
About thirty seconds left. What do you expect to hear from Tim Waltz as he introduces himself to a national audience tonight.
Yeah, as you say, tonight is about the fight for our freedoms as the theme we have Waltz and Bill Clinton, we expect to see more of what we've seen from him, this sort of coach campaigner, a man, you know, the guy next door that everybody's sort of excited about in embracing and that comfort zone. And he's going to be a key surrogate for Harris.
This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts.
You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco.
Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus.
Listen coast to coast on the Bloomberg Business app, SERRIUSXM, the 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 day Break