Broadcasting live to New York, Bloomberg eleventh to Washington, d C Bloomber to Boston, Bloomberg Well under It, to San Francisco, Bloomberg nine to the country, zoos A General one nineteen and around the globe the Bloomberg Radio Plus happened Bloomberg dot Com. This is taking stock. I'm Kathleen Hays along with p M. Fox. Let's like, just about anything and everything can be hacked this in this day and age. But what about the coming presidential election? Is the proper
cybersecurity infrastructure in place? And oh boy, how about maybe updating some outdated voting machines A special guest look at that, PIM guess we'll be speaking with David Carty about cybersecurity and the upcoming election. Right now, though, let's go to Katherine Caterin and the Bloomberg News from for Bloomberg Business Flash. Thank you, Pam Well. There could be more records on
Wall Street today. Socks are advancing as traders pushback bets on high or interest rates in it uneven economic growth in the US. A report today showed a homebuilder confidence is up. Bloomberg's Viney del Judais has a details Steady job growth and low interest rates are boosting prospects for the housing market. The home builder confidence in DEX rose to sixty this month from July's reading a fifty eight.
Readings above fifty suggests the market is good. The report is sponsored by the National Association of home Builders and Wells Fargo Looking Ahead. Tuesday, the Commerce Department issues data on actual starts of new construction in July at the Bloomberg First Word Desk on Veni del Judais Bloomberg Radio. We check the markets every fifteen minutes throughout the trading
day on Bloomberg Radio. DAL industrial average is up seventy one points four tens of a percent at eighteen thousand, six hundred forty seven smp F I founded up seven points a third percent. Trading the NAZAC is up thirty one point six tents of a percent of fifty two sixty three plus. Texas Intermedia crude oil up a dollar thirty three a barrel, that's a gain of three percent. Trading at two sparkled up two dollars and ounce at and the Tenure Treasury is down eleven thirty seconds with
yield of one point by five percent. Among today's talk business stories. Some US endowments and foundations are souring on hedge funds. Hedge fund fees and lagging performance are caused for concern for nonprofit investors who are reducing their allocation. That's according to a survey published by n EPC of Boston based consulting firm with one eighteen endowment and foundation clients. The private equity firm TPG IS agreed to buy two small cable providers r C and Telecom Service and Grand
Communications Networks. And now let's get an update of some of the other stories we're following today. Thank you Catherine from the Bloomberg Newsroom. I'm Jill Schneider. This news update is brought to you by the Jeep Grand Cherokee, the most awarded suv ever. The Grand Cherokee continues to raise the bar with its luxurious interior and legendary four by four capability drive, one that your local jeep dealer today. Republican presidential nominee Donald Trump is in Youngstown, Ohio, where
he's delivering a speech on foreign policy. Trump talked about the growth of Islamic State in two thousand and fourteen. Isis was operated in seven nations who were in seven nations. Terrible, but that's what it was. Today, they're fully operational in eighteen countries, with aspiring branches in six more, for a total of twenty four and many believe that number is actually twenty eight to thirty countries. Vice President Joe Biden
campaigned alongside Hillary Clinton today in Scranton, Pennsylvania. He said Donald Trump can't relate to middle class Americans. This guy, don't you care about the middle class. And I don't even blame him in a sense because he doesn't understand it. He doesn't have a clue. No, he really, I mean he really doesn't. He doesn't have a clue. Biden said Trump is quote totally unprepared to lead the country. Volunteers with both are part of the rescue effort in Badly
Did parts of Louisiana. State officials say about twenty thousand people have had to be rescued and ten thousand or staying at shelters. The flooding has killed at least six people. Friends and families said goodbye today to a New York City woman who was found dead after going for a run near her mother's Massachusetts home. Vanesa Marcotte was twenty seven and worked for Google. No arrests have been made.
Global News twenty four hours a day, powered by more than twenty d journalists and analysts in more than one twenty countries. I'm Jill Schneider and this is Bloomberg. Catherine, thank you, And now let's get a quick check of the market. Stole Industrial laverage up seventy points at eighteen thousand, sixty six, smp F I founded up seven point, the NASTAC up thirty points at fifty two sixty three, and that's a Bloomberg business slash. This is taking stock with
pim Box and Kathleens on Bloomberg Radio. Over the weekend, Congressional Democrats, they scrambled to figure out the scope of an unprecedented leite that we're view the personal cell phone numbers and email addresses of nearly two hundred current and former Democrats in the House of Representatives. The posting of an online spreadsheet contained this personal information with lawmakers as
well as senior staffers. Is this something that could affect the election, and indeed, could the election itself be hacked? We turned now to David Garretty. He is a principal at g v A Research, a columnist at Investopia Investopedia, and he can be followed on Twitter at g v A Research. David, thanks for being here, Thanks for making me stumble on investopedia. UM, tell us about hacking and we've learned about this revelation of cell phone numbers and
email addresses from Democrats in the House. Is it possible that that could also mean that the computer and the tallying system for our national election could be hacked. Well, him to sort of address the issues. Um, if we go back to the two thousand election, we remember hanging Chad's down in the state of Florida. We were basically reminded of the fact that, uh, the election in two thousand was decided by the Supreme Court voting in favor
of George W. Bush. Now, Congress in two thousand two passed an act called the Help America Vote Act, and this made available but four billion dollars with the funding which was used to go out and purchase voting machines. Um. These were put in place, but there hasn't been much investment made in terms of the infrastructure, if you will,
of the vote casting system. Since so we're operating in a situation right now where in two thousand sixteen, we have forty three states that are using electronic voting machines that are at least ten years old, and out of those number, fourteen of those states have voting machines that
are fifteen years or older. Now, bear in mind that most of these voting machines rely upon a Microsoft Windows operating system, except the operating system that they're using is most likely Windows XP, which Microsoft stops supporting back in April of two thousand fourteen, which from a practical standpoint means that there have been no security updates, no patches, no support for these systems since April of two thousand fourteen, which raises the question that if there were an interest,
someone could probably find a way to degrade the operating performance of those machines, not so much as to change the votes, us most likely to impede the ability of voters to actually cast their ballots through an electronic machine, which is why you're seeing people say, look, we need to ensure for this presidential election coming up in November, that there's a sufficient supply of paper ballots available. So enter hacking. I get that the voting machines are obsolescent,
not mode. And I love the fact you point out that they're you know, they're running on an old, outdated Microsoft system. But you know this is this the state of the world, and we forget sometimes is how far behind a lot of things are. How could we be hacked Someone just goes in and changes the votes from Clinton to Trump or Trump to Clinton. There have been experiments that have been done, you know, by the government in terms of there's the Argonne Lab, which is part
of the system of nationwide labs. We have Lawrence Livermore, Sandy are others where they've actually run experiments or tests as a sort of a weekend experiment, and they've been able to hack into voting machines and actually change votes. Now, the point I'm raising here isn't so much the fact that votes are changed, but the fact that you degrade
the system. If people look at past elections and people look at questions of voter disenfranchisement, people have raised concerns about voter ID laws, But most of these older machines are in districts that are less well off, that can't afford to won't spend the money to upgrade the infrastructure. And clearly where there has been voter disenfranchisement in the past, it's been in terms of lower socio economic classes or districts.
So if there were efforts to not only impede turnout, but to impede the performance of those people who do turn out to vote, obviously finding a way to degrade the performance of the voting machines would be one way to do that. For eighty two dollars, I understand that you can buy a Sequoia, a VC advantage machine. It's one of the oldest machines still in use. Voting machines such as these are in views in places like Louisiana, Virginia,
and New Jersey, Pennsylvania. Took a Princeton, a computer science professor, about five minutes to hack into the machine. Right now, the challenge that we have here in the United States, and so we've got about, you know, nine thousand different districts that have controlled either on a local level or a state level with respect to supporting voting machines. Now there there, there are, there's not a standard of machines that are being used. So arguably from a hacking standpoint,
the fact that you've got this heterogeneous infrastructure. Maybe some extent serves to impede any efforts to hack. But the point can be made here and is made here that this is something we should be concerned about. From the standpoint, we look at a voting process that should be transparent, it should have high integrity, and it should be one which in the current environment, is not capable of being rigged ten seconds. Donald Trump has famously said, I'll look
out the election could be rigged to stay. Garritty agree that, at least in terms of cybersecurity, it could. I think that this argues very much for using paper ballots in the upcoming election. All Right, did Garritty? You can find the terrific essay he wrote a couple of weeks ago on Investopedia. Dave Garrity is principle at g b A Research joining us today in our New York study. Thinks. So much for coming in, Dave. I'm Catheine Hayes along with PM Fox. This is taking Stock on Bloomberg Radio.
We're going to be looking at the stock market and where it goes next. This is Bloomberg coming up on taking Stock. Jonathan Gollub, chief US market strategist for RBC Capital Markets. He's got a call of a target on the SMP at two thousand two twenty five