Middle East Braces For Iran's Next Move; Countdown to VP Debate

Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan 0:00:10.840 --> 0:00:13.800 Hager and I'm Karen Moscow. Here are the stories we're 0:00:13.840 --> 0:00:14.640 following today. 0:00:15.000 --> 0:00:16.959 Karen, we begin with an update on the fighting in 0:00:17.000 --> 0:00:20.000 the Middle East. Israel has carried out its first airstrike 0:00:20.079 --> 0:00:23.440 on Central Bay Route in the nearly year long conflict, 0:00:23.640 --> 0:00:27.840 coming days after Israel's military killed the longtime leader of Hezbola, 0:00:28.200 --> 0:00:31.560 Hassan Nasrala. David Wood is a senior Lebanon analyst at 0:00:31.560 --> 0:00:32.920 the International Crisis Group. 0:00:33.200 --> 0:00:36.600 There's been an increasing sense in Lebanon that this is 0:00:36.680 --> 0:00:40.159 becoming not just a war between Israel and Hezbalalah, but 0:00:40.280 --> 0:00:43.559 a war between Israel and Lebanon. And there was an 0:00:43.560 --> 0:00:46.479 attack at a place called a Cola intersection, which is 0:00:46.520 --> 0:00:49.240 not in the southern suburbs of Bedutz, which are considered 0:00:49.320 --> 0:00:53.000 largely a stronghold, shall we say, Hesbala and its supporters, 0:00:53.520 --> 0:00:56.920 so quite seriously, Lebanese from all different communities and political 0:00:56.920 --> 0:01:02.120 persuasions used this intersection free in normal times. So it's 0:01:02.280 --> 0:01:05.640 really another really scary escalation in the conflict and makes 0:01:06.560 --> 0:01:09.479 people feel that there's increasingly nowhere left that's safe in Lebanon. 0:01:09.560 --> 0:01:10.119 During this war. 0:01:10.440 --> 0:01:13.400 That was David Wood's senior Lebanon analyst at the International 0:01:13.440 --> 0:01:16.760 Crisis Group. In just over a week, intensified Israeli strikes 0:01:16.760 --> 0:01:20.080 in Lebanon have killed seven high ranking commanders and officials 0:01:20.080 --> 0:01:22.080 from Hesbalat well Nathan. 0:01:22.120 --> 0:01:25.480 On the campaign trail, both Kamala Harris and Donald Trump 0:01:25.560 --> 0:01:28.520 have been putting a focus on immigration. The Vice president 0:01:28.520 --> 0:01:30.560 held a rally in Las Vegas last night. 0:01:30.760 --> 0:01:34.800 Earlier this year, we had a chance to pass the 0:01:34.920 --> 0:01:39.840 toughest bipartisan border security bill in decades, and Donald Trump 0:01:40.000 --> 0:01:43.800 takes the bill because he thought that that bill it 0:01:44.040 --> 0:01:46.600 passed would hurt him and he'd prefer to run on 0:01:46.680 --> 0:01:48.760 a problem instead of fixing a problem. 0:01:48.960 --> 0:01:52.320 Kamala Harris also told the Vegas crowd she's all in 0:01:52.400 --> 0:01:54.880 for another debate with Donald Trump, and now the former 0:01:54.920 --> 0:01:57.880 president says the border is a problem because of Harris. 0:01:58.280 --> 0:02:01.880 What she's done is a total disqualifier. 0:02:02.400 --> 0:02:03.880 She should be disqualified. 0:02:04.320 --> 0:02:07.920 She should resign the vice presidency and go home to California. 0:02:08.080 --> 0:02:11.160 She is by you know, she's really destroyed it. 0:02:11.440 --> 0:02:14.200 At a rally in Pennsylvania, Donald Trump also slammed the 0:02:14.240 --> 0:02:17.760 Vice president for holding fundraisers in California. Over the weekend, 0:02:17.880 --> 0:02:20.600 Harris raised about fifty five million dollars at events in 0:02:20.639 --> 0:02:24.160 Los Angeles and San Francisco. Trump attended his own Silicon 0:02:24.240 --> 0:02:26.640 Valley fundraiser earlier this month and Karen. 0:02:26.680 --> 0:02:29.720 The vice presidential candidates get the spotlight tomorrow night, when 0:02:29.760 --> 0:02:32.679 Republican JD. Vance and Democrat Tim Walls meet for their 0:02:32.680 --> 0:02:36.920 debate hosted by CBS News in New York. Republican Congressman 0:02:37.000 --> 0:02:39.720 Tom Emmer of Minnesota has been helping Vance prepare to 0:02:39.760 --> 0:02:41.359 face his home States governor. 0:02:41.680 --> 0:02:44.919 I've known Tim oh probably since he was first elected 0:02:44.919 --> 0:02:48.000 almost twenty years ago, and I worked with him directly 0:02:48.080 --> 0:02:51.520 for four years. I spent the last month just going 0:02:51.600 --> 0:02:55.080 back all of his old stuff to get his phrases down, 0:02:55.160 --> 0:02:57.360 his mannerisms, that sort of thing. My job was to 0:02:57.400 --> 0:03:00.960 be able to play Tim Walls eight evans knows what 0:03:01.000 --> 0:03:01.840 he's going to see. 0:03:01.960 --> 0:03:04.760 Minnesota Congressman Tom Emmer was a guest on ABC's This 0:03:04.800 --> 0:03:07.840 Week Heard Sundays on Bloomberg Radio. For full coverage of 0:03:07.880 --> 0:03:11.080 the CBS News vice presidential debate, catch the simulcast on 0:03:11.160 --> 0:03:14.120 a special edition of Bloomberg's Balance of Power that starts 0:03:14.120 --> 0:03:17.200 tomorrow night at eight pm Wall Street Time on Bloomberg 0:03:17.280 --> 0:03:18.400 Radio and television. 0:03:18.760 --> 0:03:21.919 Well Nathan Key, Industry and government officials are urging US 0:03:22.080 --> 0:03:25.240 DOC workers and their employers to avoid a strike at 0:03:25.280 --> 0:03:28.519 East and Gulf Coast ports. The US Maritime Alliance, a 0:03:28.560 --> 0:03:32.200 group representing ocean carriers and poor and terminal operators, and 0:03:32.280 --> 0:03:36.920 the International Longshoreman's Association have no talks planned before their 0:03:36.920 --> 0:03:40.320 contract expires at the end of today. President Joe Biden 0:03:40.360 --> 0:03:43.320 said he would not intervene in any dock workers' strike, 0:03:43.520 --> 0:03:46.080 he told reporters, resolving the dispute as a matter for 0:03:46.200 --> 0:03:47.120 collective bargaining. 0:03:47.320 --> 0:03:49.640 Turning the markets this morning, Karen, it is a huge 0:03:49.720 --> 0:03:52.720 rally to start the week in Asia. Stocks in China 0:03:52.880 --> 0:03:57.120 surged eight and a half percent. Three of China's largest 0:03:57.160 --> 0:04:00.120 cities relaxed rules for home buyers, while the central Bank 0:04:00.160 --> 0:04:01.960 also moved to lower mortgage rates. 0:04:02.320 --> 0:04:05.040 Well Nathan, Today marks the final trading session of the 0:04:05.080 --> 0:04:09.200 third quarter, with equities surviving was traditionally their toughest stretch 0:04:09.200 --> 0:04:11.960 of the year. We get details from Bloomberg's Charlie Pellett. 0:04:12.200 --> 0:04:15.880 Investors expect the rally to keep running in October despite 0:04:15.880 --> 0:04:20.800 a contentious presidential election campaign, shifting federal reserve policy, and 0:04:20.880 --> 0:04:23.719 fears of a pending recession. The S and P five 0:04:23.760 --> 0:04:26.600 hundred index had its third straight winning week and is 0:04:26.720 --> 0:04:29.960 up five point one percent in the third quarter, putting 0:04:30.000 --> 0:04:32.040 it on track for its best start to a year 0:04:32.240 --> 0:04:36.040 since nineteen ninety seven, according to data compiled by Bloomberg. 0:04:36.360 --> 0:04:40.320 It has also pushed the benchmark's market cap above fifty 0:04:40.480 --> 0:04:43.919 trillion dollars for the first time. And it all happened 0:04:43.960 --> 0:04:47.679 in September, which historically is the stock market's worst month. 0:04:48.240 --> 0:04:49.000 In New York. 0:04:49.120 --> 0:04:52.680 Charlie Bloomberg Radio, Okay, Charlie, thank you. In Europe, it's 0:04:52.720 --> 0:04:55.640 a tough day for Stillantis. Those shares are down more 0:04:55.680 --> 0:04:59.520 than twelve percent. The jeep maker has slashed its profit 0:04:59.560 --> 0:05:02.680 margin forecast for the year and Stillantis plans to dial 0:05:02.720 --> 0:05:06.200 back production and spend more on promotional incentives in a 0:05:06.240 --> 0:05:08.880 slowing and more competitive automotive market. 0:05:09.279 --> 0:05:12.359 And Nathan Ashton Martin shares are down more than twenty 0:05:12.440 --> 0:05:15.920 two percent. The luxury car maker is lowering its guidance 0:05:15.920 --> 0:05:18.520 for the year at blame supply chain disruption and we 0:05:18.720 --> 0:05:19.599 demand in China. 0:05:20.040 --> 0:05:22.760 Karen, let's turn our attention now to space. 0:05:25.520 --> 0:05:25.880 Freedom. 0:05:25.880 --> 0:05:27.760 SpaceX on a big group, so I'll capture. 0:05:27.440 --> 0:05:32.200 Confirmed Crew nine now board the International Space Station and 0:05:32.279 --> 0:05:34.760 joining Expedition seventy. 0:05:34.360 --> 0:05:37.960 Two, SpaceX launched a two person crew to the International 0:05:38.000 --> 0:05:40.320 Space Station, the start of a mission to bring home 0:05:40.360 --> 0:05:44.799 two NASA astronauts have been stuck in orbit after flying 0:05:44.839 --> 0:05:49.039 to the space station on Boeing Starliner spacecraft. NASA astronaut 0:05:49.120 --> 0:05:53.640 Nick Hag and Russian cosmonaut Alexander Gorbanoff entered the ISS 0:05:53.720 --> 0:05:56.880 late yesterday, and Hague thanked the team for getting them 0:05:56.880 --> 0:05:58.920 to the station safely, coming. 0:05:58.720 --> 0:06:01.440 Through the hatch and seeing all the smiles, and as 0:06:01.560 --> 0:06:04.760 much as I've laughed and cried in the last ten minutes, 0:06:05.040 --> 0:06:08.320 I know it's going to be an amazing expedition, so 0:06:08.360 --> 0:06:10.200 I'm really looking forward to get him to work up here. 0:06:10.400 --> 0:06:11.560 That was NASA's Nick Haig. 0:06:11.640 --> 0:06:13.720 The pair had two empty seats next to them that 0:06:13.880 --> 0:06:16.920 astronauts Butch Wilmore and Sonny Williams are going to fill 0:06:16.960 --> 0:06:19.960 when the spacecraft returns to Earth next year. The Crew 0:06:20.080 --> 0:06:22.600 nine flight was meant to have a four person crow, 0:06:22.920 --> 0:06:25.680 but NASA removed two crew members to make room for 0:06:25.800 --> 0:06:30.520 the Starliner duo after technical failures with Boeing's spacecraft. 0:06:34.279 --> 0:06:34.440 Good. 0:06:34.440 --> 0:06:35.719 It's time now for a look at some of the 0:06:35.720 --> 0:06:38.040 other stories making news in New York and around the world, 0:06:38.120 --> 0:06:40.799 and for that we're joined by Bloomberg's Michael Barr Michael 0:06:40.800 --> 0:06:41.880 good Morning, Good. 0:06:41.640 --> 0:06:45.080 Morning, Caaren. North Carolina officials are pledging to get more 0:06:45.160 --> 0:06:49.200 water and other supplies to storm damaged areas after Hurricane 0:06:49.279 --> 0:06:53.520 Aleen left a trail of destruction across the US Southeast. 0:06:54.000 --> 0:06:57.640 Authorities have struggle to get supplies to isolated areas, including 0:06:57.680 --> 0:07:02.160 the city of Ashville. Massive rains brought by Helene left 0:07:02.240 --> 0:07:05.200 many people stranded or homeless around the region. The death 0:07:05.240 --> 0:07:08.599 toll from the storm topped ninety people across several states. 0:07:09.080 --> 0:07:13.400 Many local officials, like Buncombe County Manager Avril Pinder, say 0:07:13.400 --> 0:07:15.880 that they're doing what they can to get help where 0:07:16.000 --> 0:07:18.000 it's needed in their community. 0:07:18.400 --> 0:07:20.120 We need food and we need water. 0:07:20.800 --> 0:07:24.160 My staff has been making every request possible to the 0:07:24.200 --> 0:07:27.440 state for support, and we've been working with every single 0:07:27.560 --> 0:07:29.240 organization that has reached out. 0:07:30.000 --> 0:07:34.400 Millions remain without lights from Florida to Indiana. Duke Energy 0:07:34.400 --> 0:07:37.960 spokesman Bill Norton says restoring power will be a multi 0:07:38.080 --> 0:07:38.840 day project. 0:07:39.080 --> 0:07:43.320 We're going to have entire substations that were underwater need 0:07:43.360 --> 0:07:46.680 to be repaired, some cases fully rebuilt. 0:07:46.800 --> 0:07:50.120 Mean while forecasters say a new tropical depression in the 0:07:50.160 --> 0:07:54.400 Eastern Atlantic Ocean could become a hurricane by midweek. New 0:07:54.520 --> 0:07:57.640 York City Mayor Eric Adams spent the weekend visiting churches 0:07:57.680 --> 0:08:02.040 as the ongoing criminal case against them canes. Adams received 0:08:02.040 --> 0:08:05.600 a standing ovation and a bronx church Sunday. However, calls 0:08:05.640 --> 0:08:09.320 for Adams to resign grow louder. On Friday, he surrendered 0:08:09.360 --> 0:08:12.280 to authorities and was slapped with a five count indictment. 0:08:12.640 --> 0:08:16.320 He stands accused of bribery, wire fraud, and accepting the 0:08:16.400 --> 0:08:20.600 legal campaign donations. However, Adams told ABC seventh Sunday he 0:08:20.720 --> 0:08:21.440 is not resigning. 0:08:21.960 --> 0:08:24.680 While the attorney's handed the due process, I'm going to 0:08:24.760 --> 0:08:27.000 handle the management of this city. 0:08:27.480 --> 0:08:31.680 The mayor's enter circle is employing his police commissioner, health commissioner, 0:08:31.680 --> 0:08:35.160 and school's chancellor have all stepped down or will soon. 0:08:36.000 --> 0:08:39.480 He was a Rhodes scholar who became a superstar. Songwriter, singer, 0:08:39.520 --> 0:08:44.840 and actor. Chris Christopherson has died. Christofferson has a gritty 0:08:45.120 --> 0:08:50.360 realism to country music with compositions like Sunday Morning, Come 0:08:50.520 --> 0:08:53.680 Down and Me and Bobby McGee and this one help 0:08:53.760 --> 0:08:54.760 me make it through the night. 0:08:55.040 --> 0:08:58.000 Taper ribbon from your hair. 0:09:00.600 --> 0:09:03.320 As in Actually he was a leading man opposite Barbara 0:09:03.320 --> 0:09:06.839 streisand and a star is born. A family spokeswoman says 0:09:07.160 --> 0:09:10.280 Christofferson died at his home in Hawaii at age eight eight. 0:09:10.640 --> 0:09:13.000 Global News twenty four hours a day and whenever you 0:09:13.040 --> 0:09:14.520 want it with the Bloomberg News. 0:09:14.520 --> 0:09:14.679 Now. 0:09:14.720 --> 0:09:16.880 I'm Michael Barr. This is Bloomberg. Karen. 0:09:17.120 --> 0:09:24.040 All right, Michael Barr, thank you time now for the 0:09:24.040 --> 0:09:27.280 Bloomberg Sports Update, brought to you by Tri State Audie. 0:09:27.360 --> 0:09:29.240 And for that we bring in John stash Hour. 0:09:29.320 --> 0:09:30.640 John, good morning, Good morning, Karen. 0:09:30.679 --> 0:09:34.520 Aaron Rodgers, approaching his forty first birthday, worked his way 0:09:34.559 --> 0:09:36.600 back to the torn Achilles. Yesterday may have been a 0:09:36.640 --> 0:09:39.040 day where he was thinking the retirement would have been 0:09:39.080 --> 0:09:40.760 a good option. Had to play in the rain, got 0:09:40.800 --> 0:09:44.840 sacked five times, hit fourteen times. Rogers couldn't get his 0:09:44.920 --> 0:09:47.000 jets into the end zonly had thirteen penalties. 0:09:47.280 --> 0:09:49.240 They lost to Denver ten to nine. 0:09:49.320 --> 0:09:51.439 The game end with a missed fifty yard field goal 0:09:51.440 --> 0:09:52.400 by Greg Zerwine. 0:09:52.400 --> 0:09:55.480 The Jets coach Robert Sala sloppy, a. 0:09:55.480 --> 0:10:00.440 Lot of preestut penalties. You know, they're already a good defense, 0:10:00.480 --> 0:10:02.319 and we made it. We made it easier for him 0:10:02.320 --> 0:10:06.520 with just a lack of execution. We had opportunities for 0:10:06.640 --> 0:10:07.959 some goal from the one. We've got to be able 0:10:07.960 --> 0:10:11.480 to put it in. Didn't. Had the ball twice with 0:10:11.520 --> 0:10:13.440 a chance to win, didn't. 0:10:13.600 --> 0:10:14.680 Jets now two and two. 0:10:14.679 --> 0:10:17.880 They played next Sunday in London against Minnesota, who's four 0:10:17.920 --> 0:10:20.760 and OH, led by the ex Jet Sam Darnold. Vikings 0:10:20.760 --> 0:10:22.440 had a four touchdown lead at green Bay ended up 0:10:22.440 --> 0:10:25.000 winning by two points. Buffalo last night was looking to 0:10:25.000 --> 0:10:27.400 go to four and OH lost in Baltimore thirty five 0:10:27.480 --> 0:10:30.800 to ten. The Patriots lost thirty to thirteen at San Francisco. 0:10:30.880 --> 0:10:34.920 The Commanders impressive winning at Arizona forty two to fourteen. 0:10:34.960 --> 0:10:37.400 The Mets are in Atlanta, but this afternoons regular season 0:10:37.480 --> 0:10:40.840 ending doublehead are both teams in the same situation. Win 0:10:40.960 --> 0:10:43.840 one game today and they're in the playoffs if a 0:10:43.840 --> 0:10:47.320 team loses, both Arizona gets in. Mets won five nothing 0:10:47.360 --> 0:10:50.360 in Milwaukee behind David Peterson. The Yankees finished with a 0:10:50.440 --> 0:10:52.400 six to four win over Pittsburgh. The Yanks of the 0:10:52.440 --> 0:10:55.640 ALS one seed. They'll start the postseason Saturday in the 0:10:55.679 --> 0:10:59.000 Bronx against either Baltimore or Kansas City. There hasn't been 0:10:59.000 --> 0:11:01.640 a triple crown winner. In the Ash Relations nineteen thirty 0:11:01.679 --> 0:11:05.000 seven show, Hey Otani came closed, so Toani ended up 0:11:05.040 --> 0:11:08.840 with fifty four home runs fifty nine stolen bases. In Brooklyn, 0:11:08.880 --> 0:11:10.800 the Liberty won Game one of their playoff series with 0:11:10.840 --> 0:11:14.239 Las Vegas. Breonna Stewart scored thirty four points. In Montreal, 0:11:14.760 --> 0:11:17.199 the US won the President's Cup Golf with a tenth 0:11:17.240 --> 0:11:17.920 time in a row. 0:11:18.160 --> 0:11:20.200 Johns stash Allurer Bloomberg Sports, Karen. 0:11:20.000 --> 0:11:20.600 And Nathan. 0:11:22.760 --> 0:11:26.920 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:26.960 --> 0:11:29.840 and around the world on Bloomberg dot Com and the 0:11:29.920 --> 0:11:31.120 Bloomberg Business app. 0:11:31.360 --> 0:11:35.199 This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. 0:11:35.320 --> 0:11:37.880 Investors are getting ready to close out the third quarter 0:11:38.000 --> 0:11:41.000 with tensions in the Middle East and along Eastern Gulf 0:11:41.040 --> 0:11:44.160 Coast ports top of mind. So what should be top 0:11:44.200 --> 0:11:46.760 of mind for you as we get set for the 0:11:46.800 --> 0:11:49.719 final quarter of twenty twenty four. Let's bring in Lori 0:11:49.880 --> 0:11:52.480 Calvcina for a look at this market, Head of US 0:11:52.480 --> 0:11:55.840 Equity Strategy at RBC Capital Markets with us in our 0:11:55.880 --> 0:11:58.360 Bloomberg Interactive Brookers Studios this. 0:11:58.440 --> 0:11:59.679 Morning, LORI, good morning. 0:12:00.160 --> 0:12:00.280 Uh. 0:12:00.559 --> 0:12:02.959 We look at futures giving back just a little bit 0:12:02.960 --> 0:12:05.320 this morning, but despite all the risks, I just pointed 0:12:05.360 --> 0:12:07.880 out S and P five hundreds poist to end this 0:12:07.960 --> 0:12:11.840 quarter up five percent, but this headline risk cloud the outlook. 0:12:12.400 --> 0:12:14.520 Well, thanks for having me as always, Nathan. Look, I 0:12:14.520 --> 0:12:17.559 think if you look at you know, indicators like the VIX, 0:12:17.679 --> 0:12:19.560 like the t DEX, they are starting to creep up 0:12:19.600 --> 0:12:21.640 a little bit. So we don't think the market is 0:12:21.640 --> 0:12:24.440 being too complacent about the risks that are growing. But 0:12:24.480 --> 0:12:27.680 one of the things I find myself saying to investors 0:12:27.720 --> 0:12:29.920 recently is we can't live in the tails when we're 0:12:29.920 --> 0:12:33.480 thinking about our equity market outlook going forward. And I 0:12:33.480 --> 0:12:35.440 think that's a lesson we've all had to really learn 0:12:35.480 --> 0:12:37.839 in recent years that the market does look at these things. 0:12:37.840 --> 0:12:39.960 They do, you know, price them in in their own ways, 0:12:40.000 --> 0:12:43.000 often with positioning trades underneath the surface. But if you 0:12:43.040 --> 0:12:47.480 put those sort of tail risks aside, the reasonably you know, 0:12:47.520 --> 0:12:50.480 sort of thinking about a good economy next year, inflation 0:12:50.600 --> 0:12:54.040 continuing to moderate, earning's growth continuing to be strong. That's 0:12:54.040 --> 0:12:56.880 supportive of all PE multiples, and additional you know, gains 0:12:56.880 --> 0:12:58.839 in the equity market next year. So I think it's 0:12:58.920 --> 0:13:01.679 right for markets to be watching these things out of 0:13:01.720 --> 0:13:04.200 the side of its eyes, but not overly reacting in 0:13:04.240 --> 0:13:04.640 the moment. 0:13:05.000 --> 0:13:08.720 So what should investors be focusing on most as we 0:13:08.880 --> 0:13:10.400 head into this fourth quarter? 0:13:10.840 --> 0:13:12.880 So I think earning season is going to be pivotal, 0:13:12.920 --> 0:13:15.600 and it's interesting we've already started to get some questions there. 0:13:16.240 --> 0:13:18.280 I really think that investors are going to be looking 0:13:18.320 --> 0:13:20.920 for companies to get a sense of where corporate confidence 0:13:21.000 --> 0:13:24.000 levels are and the feedback loop into the labor market. 0:13:24.000 --> 0:13:27.640 I think that we're still, unfortunately just debating whether or 0:13:27.760 --> 0:13:30.480 not the economy is going to sort of tip into 0:13:30.800 --> 0:13:33.160 something more difficult. There's still a lot of concerns about 0:13:33.160 --> 0:13:36.240 the labor market. I think that the FED cuts, it's 0:13:36.360 --> 0:13:40.360 really important to have those underway. But at the same time, 0:13:40.360 --> 0:13:43.240 people are continuing to talk about the long and variable lags. 0:13:43.240 --> 0:13:45.120 So I think that companies are really going to be 0:13:45.120 --> 0:13:48.480 in focus and what they're saying about their own confidence levels, 0:13:48.480 --> 0:13:50.440 what they're doing on Capex and what they're doing in 0:13:50.440 --> 0:13:52.200 regards to the labor market. I think that's going to 0:13:52.200 --> 0:13:53.800 be crucial in coming weeks. 0:13:53.559 --> 0:13:56.400 In terms of what you're hearing from corporate so far. 0:13:56.520 --> 0:13:59.240 What do they want to see from the FED? Are 0:13:59.280 --> 0:14:02.200 they looking for low and steady? Are they looking for 0:14:02.400 --> 0:14:04.600 the FED to deliver something bigger? 0:14:05.080 --> 0:14:07.199 I don't know that I'm getting a clear sense of, 0:14:07.240 --> 0:14:09.600 you know, companies wanting big cuts. I think it was 0:14:09.640 --> 0:14:12.439 important just to get the cuts started and to understand 0:14:12.440 --> 0:14:14.839 what the direction of travel is. I think there is 0:14:14.880 --> 0:14:17.720 a sense that it's going to take some time to 0:14:17.840 --> 0:14:20.680 really see the cuts work their way into the system. 0:14:20.800 --> 0:14:23.680 So obviously, you know, I think maybe bigger cuts, you know, 0:14:23.720 --> 0:14:26.560 maybe you reduce the amount of time that's needed. But 0:14:26.720 --> 0:14:28.920 it's funny because I have actually, you know, sort of 0:14:28.960 --> 0:14:32.960 been poking, you know, with certain individuals and companies on 0:14:33.040 --> 0:14:35.480 this question. You know, what is really what what are 0:14:35.480 --> 0:14:38.400 you looking for? Right, whether it's regarding interest rates, whether 0:14:38.440 --> 0:14:41.200 it's regarding the election. I think it was just the 0:14:41.320 --> 0:14:43.440 need to get the cuts underway, and I think it's 0:14:43.440 --> 0:14:46.560 the passage of the election itself that people want to see. 0:14:46.800 --> 0:14:49.200 Yeah, I do want to ask you about the election 0:14:49.320 --> 0:14:52.400 as well. There's so much uncertainty surrounding that such a 0:14:52.440 --> 0:14:55.120 tight race does it make it difficult not just for 0:14:55.160 --> 0:14:59.280 you as equity strategist, but for these companies to game 0:14:59.320 --> 0:15:03.200 out how things could go depending on who wins the race. 0:15:03.200 --> 0:15:04.160 Got about a minute last. 0:15:04.320 --> 0:15:06.680 Yes and no. Look, I think that companies, you know, 0:15:06.720 --> 0:15:08.200 there's a sense of they want to know what the 0:15:08.240 --> 0:15:09.800 lay of the land is and they want to know 0:15:09.840 --> 0:15:11.720 what they're dealing with. But the reality is that if 0:15:11.720 --> 0:15:14.360 you look at how equity markets perform under either a 0:15:14.400 --> 0:15:17.440 Republican sweep or a Democratic president with a split Congress, 0:15:17.720 --> 0:15:20.440 those are the two best historical scenarios for the stock 0:15:20.480 --> 0:15:23.040 market in the past. So, you know, I'm not getting 0:15:23.080 --> 0:15:25.200 a clear sense of you know, polic aaa policy. B. 0:15:25.360 --> 0:15:27.840 I do think tax policy is in focus, but I 0:15:27.920 --> 0:15:30.120 really do again, just think it's wanting to know what 0:15:30.200 --> 0:15:30.880 we're dealing with. 0:15:33.440 --> 0:15:36.880 This is Bloomberg Daybreak, your morning podcast on the stories 0:15:36.960 --> 0:15:39.960 making news from Wall Street to Washington and beyond. 0:15:40.240 --> 0:15:42.640 Look for us on your podcast feed by six am 0:15:42.680 --> 0:15:46.080 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:15:46.280 --> 0:15:49.120 You can also listen live each morning starting at five 0:15:49.160 --> 0:15:51.760 Am Wall Street Time on Bloomberg eleven three to zero 0:15:51.880 --> 0:15:54.800 in New York, Bloomberg ninety nine to one in Washington, 0:15:54.840 --> 0:15:58.800 Bloomberg ninety two nine in Boston, and nationwide on serious 0:15:59.000 --> 0:16:01.240 XM Channel one plus. 0:16:01.320 --> 0:16:03.880 Listen coast to coast on the Bloomberg Business App now 0:16:03.920 --> 0:16:06.520 with Apple CarPlay and Android auto interfaces. 0:16:06.760 --> 0:16:09.760 And don't forget to subscribe to Bloomberg News Now. It's 0:16:09.800 --> 0:16:12.520 the latest news whenever you want it in five minutes 0:16:12.640 --> 0:16:15.760 or less. Search Bloomberg News Now on your favorite podcast 0:16:15.800 --> 0:16:19.960 platform to stay informed all day long. I'm Karen Moscow. 0:16:19.720 --> 0:16:20.720 And I'm Nathan Hager. 0:16:20.840 --> 0:16:22.920 Join us again tomorrow morning for all the news you 0:16:22.960 --> 0:16:25.680 need to start your day right here on Bloomberg dabray