Harris Holds First Major Rally; Tesla, Alphabet & Deutsche Bank Fall on Earnings

Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan 0:00:11.039 --> 0:00:14.000 Hager and I'm Karen Moscow. Here are the stories we're 0:00:14.040 --> 0:00:14.840 following today. 0:00:15.000 --> 0:00:17.479 Karen, we begin with the latest on the presidential race, 0:00:17.560 --> 0:00:20.400 now taking new shape with Kamala Harris at the top 0:00:20.480 --> 0:00:23.640 of the Democratic ticket. The Vice President held her first 0:00:23.720 --> 0:00:27.840 rally as a presidential candidate in Milwaukee. She said Americans 0:00:27.840 --> 0:00:31.000 face two different visions for the country, one focused on 0:00:31.040 --> 0:00:32.880 the future, the other on the past. 0:00:33.320 --> 0:00:38.640 Do we want to live in a country of freedom, compassion, 0:00:39.520 --> 0:00:44.280 and rule of law or a country of chaos, fear 0:00:44.400 --> 0:00:48.360 and hate. And here's the. 0:00:48.320 --> 0:00:49.400 Beauty of this moment. 0:00:50.400 --> 0:00:54.760 We each have the power to answer that question. 0:00:55.160 --> 0:00:57.880 Vice President Harris said she will proudly put her record 0:00:57.880 --> 0:01:00.640 against former President Trump's and keep working to unite the 0:01:00.680 --> 0:01:04.160 Democratic Party. Democrats will meet later today to finalize the 0:01:04.200 --> 0:01:07.000 rule change that will make Harris's nomination official. In a 0:01:07.080 --> 0:01:10.600 virtual role call next month. Former President Trump says he's 0:01:10.640 --> 0:01:13.360 willing to debate Harris, though he says he's not thrilled 0:01:13.360 --> 0:01:15.679 about doing it on ABC News. That's where the next 0:01:15.720 --> 0:01:19.000 debate is scheduled in September, and Trump's campaign has filed 0:01:19.000 --> 0:01:22.600 a complaint about President Biden transferring his ninety six million 0:01:22.640 --> 0:01:25.000 dollar war chest to the Harris campaign. 0:01:25.520 --> 0:01:28.320 Well, Nathan All eyes will be on President Biden tonight, 0:01:28.440 --> 0:01:30.760 he set to address the nation from the Oval Office 0:01:30.800 --> 0:01:34.000 to discuss his decision to give up his campaign. Adam 0:01:34.080 --> 0:01:37.600 Hodge is a democratic strategist at the Bully Pulpit International. 0:01:37.840 --> 0:01:40.319 He says he expects the President to tout his record 0:01:40.319 --> 0:01:42.759 over the last three and a half years for. 0:01:42.760 --> 0:01:46.360 One one of the final times with one of the 0:01:46.360 --> 0:01:49.960 bigger audiences, to lay out what he's accomplished and is 0:01:50.000 --> 0:01:53.560 truly remarkable first four years, and why he thought is 0:01:53.600 --> 0:01:56.240 important to pass the torch to the Vice president. 0:01:56.760 --> 0:01:59.640 Adam Hodge with Bully Pulpit International, was a guest on 0:01:59.640 --> 0:02:03.400 bloom Burgh's Balance of Power. Former President Trump, meanwhile, is 0:02:03.440 --> 0:02:06.480 demanding equal time. The New York Times reports he's sent 0:02:06.520 --> 0:02:10.959 a letter to ABC, CBS and NBC arguing Biden's speech 0:02:10.960 --> 0:02:14.639 will be a prime time campaign commercial for Kamala Harris. 0:02:14.960 --> 0:02:18.000 Trump will hold a rally in Charlotte, North Carolina, this evening, 0:02:18.040 --> 0:02:20.880 two hours before the President's address, which is set for 0:02:20.960 --> 0:02:23.040 eight pm Wall Street Time. We'll bring it to you 0:02:23.160 --> 0:02:26.000 live on Bloomberg Radio and Television. 0:02:25.600 --> 0:02:28.680 And NBC News Karen is reporting that former President Trump 0:02:28.720 --> 0:02:32.760 plans to stop holding outdoor rallies following the assassination attempt 0:02:32.800 --> 0:02:35.880 earlier this month. NBC says the current plans are for 0:02:36.080 --> 0:02:38.880 indoor rallies, but it is possible the former president will 0:02:38.919 --> 0:02:42.720 participate in smaller outdoor events or larger rallies in facilities 0:02:42.720 --> 0:02:45.880 where entrances are more fully controlled well. 0:02:45.680 --> 0:02:48.600 When it comes to security. Nathan Anti's scale fences are 0:02:48.680 --> 0:02:51.799 up at the US capital ahead of Israeli Prime Minister 0:02:51.919 --> 0:02:55.280 Benjamin Netanyahoo's address to a joint meeting of Congress, and 0:02:55.320 --> 0:02:57.280 Bloomberg's Amy Morris has a preview. 0:02:57.600 --> 0:03:01.520 As Natanyahu arrived in Washington, EA indicated that conditions for 0:03:01.600 --> 0:03:05.360 a ceasefire and hostage deal with Hamas are quote becoming ripe, 0:03:05.639 --> 0:03:08.320 suggesting the two sides are getting closer to agreeing to 0:03:08.480 --> 0:03:11.480 at least a temporary halt to their war in Gaza. 0:03:11.600 --> 0:03:14.040 While he is addressing Congress, he'll attempt to shore up 0:03:14.080 --> 0:03:17.200 you as support for Israel. However, many Democratic lawmakers have 0:03:17.240 --> 0:03:20.560 indicated they will not attend. Protesters are also expected in 0:03:20.600 --> 0:03:23.480 and around the capitol. Netanyahu is scheduled to meet with 0:03:23.560 --> 0:03:26.280 President Biden on Thursday, and then we'll meet with former 0:03:26.320 --> 0:03:29.640 President Trump in Florida on Friday. In Washington, Amy Morris, 0:03:29.639 --> 0:03:30.720 Bloomberg Radio. 0:03:30.680 --> 0:03:33.040 Right, Amy thanks Training to markets. Earnings are front and 0:03:33.120 --> 0:03:36.520 center this morning. Shares of Tesla are down nearly seven 0:03:36.600 --> 0:03:40.160 percent in early training following its latest report. Let's get 0:03:40.200 --> 0:03:42.800 the details from Bloomberg's John Tucker John Nathan. 0:03:42.840 --> 0:03:47.120 The second quarter earnings report shows disappointing profit as CEO 0:03:47.200 --> 0:03:50.760 Elon Musk confirms an earlier Bloomberg report that a highly 0:03:50.800 --> 0:03:54.480 anticipated unveiling of autonomous taxis is postponed. 0:03:55.000 --> 0:03:57.200 I wanted to make some important changes that I think 0:03:57.240 --> 0:04:00.240 would improve the big the. 0:04:02.720 --> 0:04:04.720 ROBOTAXI think the thing that we're the main thing that 0:04:04.720 --> 0:04:05.880 we're going to show well. 0:04:05.960 --> 0:04:09.400 Tansle now unveiled Robotaxis on October tenth, and the car 0:04:09.440 --> 0:04:13.080 has shown will only be prototypes and more affordable teslas 0:04:13.080 --> 0:04:15.920 that could juice sales. They won't go into production until 0:04:16.120 --> 0:04:19.120 the first half of next year at the earliest. Earnings 0:04:19.160 --> 0:04:21.240 for the quarter slumped to fifty two cents per year, 0:04:21.360 --> 0:04:25.119 missing estimates for the fourth consecutive quarter. On the bright side, 0:04:25.120 --> 0:04:29.040 though revenue beat expectations rising to a record. The surprise 0:04:29.120 --> 0:04:32.200 gain there was driven by growth in the company's energy, 0:04:32.279 --> 0:04:36.039 generation and storage business. John Tucker Bloomberg. 0:04:35.640 --> 0:04:38.280 Radio, All right, John, thank you well. Shares of Alphabet 0:04:38.320 --> 0:04:41.320 are down almost three percent in early trading, this despite 0:04:41.360 --> 0:04:45.600 the Google parent reporting second quarter revenue above analyst estimates. 0:04:45.839 --> 0:04:48.200 Analysts say the drop in the stock price may be 0:04:48.279 --> 0:04:52.200 attributed to weakness in YouTube and higher capex spending. We 0:04:52.320 --> 0:04:54.840 get more in the quarter from Bloomberg Technology, host ed 0:04:54.920 --> 0:04:56.440 Ludlow in San Francisco. 0:04:56.839 --> 0:04:59.800 This is the first quarter where cloud revenues exceeded ten 0:04:59.800 --> 0:05:01.880 b billion dollars, but also for the first time they 0:05:01.960 --> 0:05:05.240 kind of had more to show around artificial intelligence, all 0:05:05.240 --> 0:05:07.880 the investment and work in that field. The way that 0:05:07.960 --> 0:05:11.839 Ruth Parrott described it on the call with me was that, look, 0:05:11.960 --> 0:05:15.960 it's AI infrastructure solutions and generative AI. They're meaningful drivers 0:05:15.960 --> 0:05:17.720 of growth for the cloud business. And on the analyst 0:05:17.839 --> 0:05:21.520 call she kind of expanded and gave an almost granular 0:05:21.600 --> 0:05:24.080 kind of run rate figure, which was that year to date, 0:05:24.600 --> 0:05:27.520 the company's generating billions of dollars in the context of 0:05:27.520 --> 0:05:31.039 cloud from generative AI and AI infrastructure. 0:05:31.400 --> 0:05:35.080 Bloomberg ed Ludlow says Alphabet's capital expenditures in the second 0:05:35.120 --> 0:05:39.120 quarter were higher in support of artificial intelligence and computing power. 0:05:39.279 --> 0:05:42.479 The company spent thirteen point two billion dollars, and that's 0:05:42.480 --> 0:05:44.599 a billion more than analysts expected. 0:05:44.839 --> 0:05:47.920 In Europe, Karen shares of Deutsche Bank are down nearly 0:05:48.000 --> 0:05:52.120 seven percent. Germany's largest lenders suffered its first quarterly loss 0:05:52.200 --> 0:05:55.120 in four years as trading slowed, and it also booked 0:05:55.120 --> 0:05:56.960 a charge tied to a legacy issue at one of 0:05:57.000 --> 0:06:00.599 its retail units. Deutsche's chief financial officer, James vun Molca 0:06:00.640 --> 0:06:04.359 says the bank is likely scrapping it's dividend this year. 0:06:04.520 --> 0:06:08.200 I think prudence would would dictate that we step back 0:06:08.240 --> 0:06:13.320 from seeking a second repurchase authorization. We've already returned, you know, 0:06:13.839 --> 0:06:16.360 a one point three billion to one point five i'm 0:06:16.360 --> 0:06:19.760 sorry billion to two investors so far this year, and 0:06:19.839 --> 0:06:23.400 so we think we're demonstrating an ability to stay on track. 0:06:23.640 --> 0:06:26.600 Deutche Bank's CFO James von Milka also says revenue at 0:06:26.600 --> 0:06:30.000 both the corporate and private banks fell as the tailwind 0:06:30.040 --> 0:06:32.080 from rising interest rates fades. 0:06:32.560 --> 0:06:36.080 Nathan Shares, a French luxury retailer lvmh or down more 0:06:36.120 --> 0:06:39.200 than four percent. Sales growth slow last quarter as well. 0:06:39.240 --> 0:06:42.640 These shoppers reigned in spending on pricey items from Louis 0:06:42.680 --> 0:06:43.919 Vuitton and Christian. 0:06:43.640 --> 0:06:45.279 Do Yor and staying in France. 0:06:45.400 --> 0:06:45.679 Karen. 0:06:45.760 --> 0:06:50.159 Hotel prices for the summer Olympics in Paris are going down. 0:06:50.240 --> 0:06:53.680 According to travel insights company Lighthouse Accommodations are now being 0:06:53.680 --> 0:06:56.000 listed for an average three hundred and forty dollars a 0:06:56.120 --> 0:06:59.440 night between July twenty sixth, when the opening ceremony happens 0:06:59.440 --> 0:07:02.359 at August eleventh, when we get the closing ceremony. That 0:07:02.440 --> 0:07:05.200 three forty a night is down forty one percent from 0:07:05.200 --> 0:07:08.280 the peak rate of five hundred and seventy five dollars 0:07:08.400 --> 0:07:13.360 around eleven months before the games. 0:07:14.280 --> 0:07:15.520 When it's time now for a look at some of 0:07:15.560 --> 0:07:17.640 the other stories making news in New York and around 0:07:17.640 --> 0:07:20.920 the world. And for that we're joined by Bloomberg's Michael Barr. 0:07:21.000 --> 0:07:24.400 Michael, Good Morning, Good morning, Karen. Senator Bob Menendez says 0:07:24.440 --> 0:07:27.520 he will resign the fact of August twentieth. The New 0:07:27.600 --> 0:07:31.000 Jersey Democrat will step down following his conviction on federal 0:07:31.040 --> 0:07:35.360 corruption charges in New York last week. Menendez's political support 0:07:35.400 --> 0:07:38.640 within his own party collapsed after a jury found that 0:07:38.760 --> 0:07:42.400 he had received bribes of gold bars, hundreds of thousands 0:07:42.400 --> 0:07:46.080 of dollars in cash, ana mercedes in return to official 0:07:46.120 --> 0:07:49.840 favors extended to three businessmen and on behalf of the 0:07:50.080 --> 0:07:54.080 Egyptian interests. His wife, Nadine, was also charged but has 0:07:54.200 --> 0:07:58.440 not yet been tried. Secret Service Director Kim Cheadle announced 0:07:58.440 --> 0:08:01.240 a resignation in the wake of her Hiring House hearing. 0:08:01.840 --> 0:08:06.320 She was under intense pressure from Republicans and Democrats angered 0:08:06.360 --> 0:08:10.160 by the agency's failure to prevent the assassination attempt against 0:08:10.200 --> 0:08:13.560 Donald Trump. While on the Senate floor, Minority Leader Mitch 0:08:13.600 --> 0:08:15.480 McConnell demanded further oversighted. 0:08:15.760 --> 0:08:18.680 Democrats, who were so often expressed concern about threats to 0:08:18.840 --> 0:08:24.240 democracy have yet to look seriously at the failures of 0:08:24.320 --> 0:08:25.239 the Secret Service. 0:08:25.680 --> 0:08:30.200 Meanwhile, former President Trump criticized the Secret Services investigation into 0:08:30.240 --> 0:08:33.240 the motive of the shooter. Two fishermen off the coast 0:08:33.280 --> 0:08:36.199 of New Hampshire say they're lucky to be alive. After 0:08:36.360 --> 0:08:40.520 encountering a whale, the humpback exploded out of the water, 0:08:40.760 --> 0:08:44.320 all forty tons of it, slammed down on the boat's 0:08:44.320 --> 0:08:47.800 stern catapulting the two men into the water. Everything seemed 0:08:47.800 --> 0:08:50.120 like in slow motion. It was really weird. 0:08:50.200 --> 0:08:53.120 When I turned, the whale's head was already landing on 0:08:53.160 --> 0:08:53.839 the engine. 0:08:53.960 --> 0:08:57.760 It forced the boat to capsize. Two teams nearby scoop 0:08:57.800 --> 0:09:01.480 the fishermen out of the water unharmed. Marine life experts 0:09:01.520 --> 0:09:04.680 believe the whale was probably lunging at its prey and 0:09:04.720 --> 0:09:08.600 the boat was just in its way. Representatives from large 0:09:08.679 --> 0:09:12.640 US banks were before lawmakers on Capitol Hill answering questions 0:09:12.640 --> 0:09:16.239 about the rising use of the Zell network by scammers. 0:09:16.760 --> 0:09:19.800 The Zell app, praised for its speed and convenience, also 0:09:19.880 --> 0:09:23.520 gives crooks easy access to the accounts of victims. The 0:09:23.559 --> 0:09:26.320 company behind the Zel network is co owned by a 0:09:26.320 --> 0:09:29.960 group of the largest US banks. Plissa Felcher is with 0:09:30.120 --> 0:09:31.199 JP Morgan Chase. 0:09:31.480 --> 0:09:34.839 Fraud and scams have long been a societal problem and 0:09:34.960 --> 0:09:39.240 a consistent public and governmental concern in this country, and 0:09:39.320 --> 0:09:43.480 while criminals have now fully embraced modern technology, their core 0:09:43.520 --> 0:09:46.400 intent to exploit and deceive remains unchanged. 0:09:46.640 --> 0:09:50.000 Felcher says many of the scams originate on social media 0:09:50.200 --> 0:09:53.000 or dating apps. Global news twenty four hours a day 0:09:53.120 --> 0:09:55.800 and whenever you want it with Bloomberg News Now. I'm 0:09:55.840 --> 0:09:57.800 Michael Barr. This is Bloomberg Cameron. 0:09:58.080 --> 0:10:04.679 All right, Michael Burr, thank you time now for the 0:10:04.720 --> 0:10:08.160 Bloomberg Sports Update. But John stash Hour, John, good morning. 0:10:07.960 --> 0:10:10.920 Good morning, Karen, bragging rights again to the Mets two 0:10:11.000 --> 0:10:13.280 subway series wins last month in the city field and 0:10:13.320 --> 0:10:16.839 at the Stadium, Mets and Yankees were tied sixth inning. 0:10:17.240 --> 0:10:18.000 Tonkin sents. 0:10:18.120 --> 0:10:21.000 Here's the pitch, swinging a high fly ball, well hit 0:10:21.120 --> 0:10:24.160 right center Sodo, going back towards the track, towards the wall, 0:10:24.320 --> 0:10:25.080 He's gone. 0:10:25.400 --> 0:10:27.320 Jeff McNeil, what two run? 0:10:27.360 --> 0:10:30.600 A hover into the Yankees bullpen and right center field. 0:10:30.840 --> 0:10:32.800 He's had the power stroke this week. 0:10:32.920 --> 0:10:35.240 Honey has just given the Mets a three to one 0:10:35.320 --> 0:10:38.560 lead on WCBS. McNeil not known for hitting homers, but 0:10:38.600 --> 0:10:41.280 he's hit four in the last five games. Yanks closed 0:10:41.360 --> 0:10:44.840 within a run, had chances, but they stranded eleven runners, 0:10:44.840 --> 0:10:46.840 went one for nine with runners in scoring position, and 0:10:46.880 --> 0:10:48.840 the Mets held on to win three to two. Jose 0:10:49.040 --> 0:10:52.920 Kintana worked the first five innings. Five relievers followed, not 0:10:53.200 --> 0:10:55.439 Edwin Diaz. He had thrown twenty eight pitches. Mondays to 0:10:55.480 --> 0:10:57.920 the Mets used Jake Diekman in the bottom of the ninth. 0:10:57.960 --> 0:11:00.960 He struck out Aaron Judge, who walked in each of 0:11:01.000 --> 0:11:04.120 his first four at bats, never once seeing a strike. 0:11:04.200 --> 0:11:06.640 They're back in the Bronx tonight Sean and Ia versus 0:11:06.640 --> 0:11:09.240 Garrett Cole, who against the Mets last month gave up 0:11:09.280 --> 0:11:11.800 four home runs. Red Sox endo their four game losing 0:11:11.840 --> 0:11:15.320 strenk six nothing to Colorado National shutout by San Diego 0:11:15.360 --> 0:11:17.800 four nothing. The Dodgers moved twenty games over five hundred. 0:11:17.800 --> 0:11:21.080 They beat the Giants five to two. Shoeotani drove in three. 0:11:21.240 --> 0:11:24.080 NFL training camps are open. Jets and Giants are coming 0:11:24.120 --> 0:11:27.080 off seven and six win seasons. They didn't have their 0:11:27.120 --> 0:11:30.559 starting quarterbacks, Aaron Rodgers not at all. Daniel Jones played 0:11:30.559 --> 0:11:33.959 only six games the Patriots first training camp since nineteen 0:11:34.080 --> 0:11:37.200 ninety nine without Bill Belichick. New coach Gerrodmeos says veteran 0:11:37.280 --> 0:11:41.280 Jacoby Brissett is his starting QB, not Drake May who 0:11:41.280 --> 0:11:43.880 they drafted third overall. The NFL and the Players Association 0:11:44.000 --> 0:11:47.319 reportedly in toughs to go from seventeen to an eighteen 0:11:47.400 --> 0:11:50.120 game schedule and something the owners have long desired, the 0:11:50.160 --> 0:11:52.640 players have always resisted. Lebron James will not be the 0:11:52.640 --> 0:11:55.960 only NBA player carrying his country's flag at Friday's Olympic 0:11:56.000 --> 0:11:58.520 opening ceremonies in Paris. Giannast of the Company will do 0:11:58.559 --> 0:12:01.920 it for Greece. Dennis Shrew for Germany. John Stashley were 0:12:01.920 --> 0:12:02.720 Bloomberg's Boys. 0:12:02.800 --> 0:12:03.400 Karen Nick. 0:12:06.080 --> 0:12:10.200 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:10.280 --> 0:12:13.200 and around the world on Bloomberg dot Com and the 0:12:13.240 --> 0:12:14.440 Bloomberg Business app. 0:12:14.679 --> 0:12:18.320 This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. A 0:12:18.360 --> 0:12:21.280 brand new race is taking shape between former President Donald 0:12:21.280 --> 0:12:24.600 Trump and now Vice President Kamala Harris. The Democrat's new 0:12:24.640 --> 0:12:28.120 presumptive nominee, is promising to put her record against the 0:12:28.160 --> 0:12:31.120 Republicans as she has just over one hundred days to 0:12:31.160 --> 0:12:33.720 convince voters that she can step into the job at 0:12:33.760 --> 0:12:37.760 the White House. Joining us for more, Bloomberg's Kevin Whitelaw Kevin, 0:12:37.800 --> 0:12:40.640 Good Morning. We saw Vice President Harris at her first 0:12:40.800 --> 0:12:44.200 presidential campaign rally, calling this now a race between the 0:12:44.280 --> 0:12:47.680 future and the past. A much harder argument to make, 0:12:47.800 --> 0:12:50.440 isn't it When President Biden was at the top of 0:12:50.480 --> 0:12:50.880 the ticket. 0:12:51.440 --> 0:12:53.559 Yeah, I mean, she certainly is able to reframe the 0:12:53.640 --> 0:12:57.000 race in a couple of ways. Obviously, suddenly age becomes 0:12:57.000 --> 0:12:59.840 a problem for the other side, but as you say, 0:13:00.080 --> 0:13:04.000 she she can can try a newer, more dynamic message. 0:13:04.040 --> 0:13:06.960 She also harnessed that her record as a as a 0:13:06.960 --> 0:13:09.840 prosecutor in California, and I think that you're sort of 0:13:09.840 --> 0:13:13.080 seeing the the the idea of the prosecutor versus the 0:13:13.120 --> 0:13:15.959 felon being something you're going to hear I think a 0:13:16.000 --> 0:13:18.440 lot in the months ahead, and. 0:13:18.360 --> 0:13:21.160 We're hearing that the Democrats are moving pretty quickly to 0:13:21.760 --> 0:13:25.360 finalize the rule change to make Vice President Harris the 0:13:25.440 --> 0:13:28.760 nominee in a virtual role call vote. Does that make 0:13:28.800 --> 0:13:32.920 things more difficult to have this scene potentially as a 0:13:32.960 --> 0:13:35.760 fast track to get Vice President Harris to the top 0:13:35.760 --> 0:13:36.640 of the ticket. 0:13:36.960 --> 0:13:39.520 I suppose. Although it doesn't feel like there's a particular 0:13:39.600 --> 0:13:43.920 outcry from from within the Democratic Party about this being 0:13:44.000 --> 0:13:48.880 too fast or to to sort of closed, because I 0:13:48.920 --> 0:13:52.160 think there's there does seem to be a broad recognition 0:13:52.200 --> 0:13:54.319 that she's sort of got the inside track. She was 0:13:54.360 --> 0:13:57.040 at least on the ballot on the primary ballot, with 0:13:57.040 --> 0:14:00.200 with Biden, So it is sort of, I suppose, was 0:14:00.240 --> 0:14:04.560 the most democratic option they have in some sense. But 0:14:04.640 --> 0:14:06.880 obviously there just doesn't seem to be a huge hunger 0:14:06.960 --> 0:14:11.600 for a truly open convention, nor has anyone emerged a 0:14:11.679 --> 0:14:15.240 challenger yet, so I think that Democrats seem to be 0:14:15.280 --> 0:14:17.800 pretty happy to rally around her as their last best 0:14:17.880 --> 0:14:19.400 chance to beat Donald Trump. 0:14:19.480 --> 0:14:21.360 No, there is going to be a challenge, I guess 0:14:21.400 --> 0:14:24.360 from the Trump campaign filing a complaint with the FEC 0:14:24.600 --> 0:14:28.040 about President Biden's war chest being transferred over to Vice 0:14:28.120 --> 0:14:31.040 President Harris. Do you see that having any traction? 0:14:32.000 --> 0:14:33.680 A little hard to sort of see how that one 0:14:34.640 --> 0:14:37.720 is gonna going to stop them, And obviously it's sort 0:14:37.720 --> 0:14:40.280 of interesting to watch the Trump campaign go to the end. 0:14:40.560 --> 0:14:43.680 I mean, the FEC hasn't had much much of a 0:14:43.760 --> 0:14:47.000 role in actually policing campaign finance for for a number 0:14:47.040 --> 0:14:49.560 of years on either side, so a little hard to 0:14:49.560 --> 0:14:51.480 imagine that one going anywhere. I think she's got a 0:14:51.480 --> 0:14:53.680 pretty clear claim to it. Any other Democrat would have 0:14:53.720 --> 0:14:57.560 a much more difficult problem. But so far the sort 0:14:57.560 --> 0:15:02.600 of campaign tradition has transitioned seemed pretty seamless. Her fundraising 0:15:02.680 --> 0:15:05.720 is off to a great start. She's able to mobilize 0:15:05.960 --> 0:15:07.880 the sort of ground game that that he and his 0:15:07.920 --> 0:15:12.280 team had developed, and uh, you know, I think that 0:15:12.280 --> 0:15:16.360 that whole transition is working so far pretty well for 0:15:16.360 --> 0:15:19.800 for for her. Obviously, all eyes are going to be 0:15:19.840 --> 0:15:24.440 on the president tonight when when he addresses the nation, 0:15:25.280 --> 0:15:27.160 So so that's going to be an interesting moment to 0:15:27.200 --> 0:15:32.000 see how he handles the messaging going forward. 0:15:32.080 --> 0:15:34.520 Yeah, let's talk about that in our last thirty seconds here. 0:15:34.560 --> 0:15:37.080 How high is the bar for the president to convince 0:15:37.120 --> 0:15:39.720 Americans that he's still up to the task of finishing 0:15:39.720 --> 0:15:41.440 the final six months of his term. 0:15:42.240 --> 0:15:44.520 Yeah, you know, I I think that issue is play 0:15:44.560 --> 0:15:47.320 going to go away reasonably quickly. I think that as 0:15:47.320 --> 0:15:49.880 long as he's able to show that he's recovered from 0:15:49.920 --> 0:15:52.920 from COVID and is able to to to speak clearly 0:15:53.000 --> 0:15:56.560 and and and make a clean message, my guess is 0:15:56.600 --> 0:15:58.640 that one goes away and then this just turns into 0:15:58.760 --> 0:16:01.840 a pretty nasty campaign in the months ahead. 0:16:02.120 --> 0:16:05.160 This is Bloomberg Daybreak Today, your morning brief on the 0:16:05.200 --> 0:16:08.640 stories making news from Wall Street to Washington and beyond. 0:16:08.920 --> 0:16:11.680 Look for us on your podcast feed at six am 0:16:11.760 --> 0:16:15.400 Eastern each morning on Apple Spotify, and anywhere else you 0:16:15.480 --> 0:16:16.640 get your podcasts. 0:16:16.760 --> 0:16:19.480 You can also listen live each morning starting at five 0:16:19.520 --> 0:16:22.160 am Wall Street Time on Bloomberg eleven three to zero 0:16:22.160 --> 0:16:25.040 in New York, Bloomberg ninety nine to one in Washington, 0:16:25.120 --> 0:16:28.000 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:28.080 --> 0:16:29.760 ninety sixty in San Francisco. 0:16:30.120 --> 0:16:33.280 Our flagship New York station is also available on your 0:16:33.320 --> 0:16:38.680 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:38.800 --> 0:16:42.360 Listen coast to coast on the Bloomberg Business app, seriusxmb 0:16:42.520 --> 0:16:46.600 iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:46.360 --> 0:16:47.520 And I'm Karen Moscow. 0:16:47.720 --> 0:16:50.480 Join us again tomorrow morning for all the news you 0:16:50.600 --> 0:17:02.960 need to start your day right here on Bloomberg Daybreak