Election Results: Big Wins for Democrats; Ohio Abortion Rights Vote Passes
On today's podcast:
1) Ohio voters enshrined abortion rights in their state’s Constitution, a boon for Democrats running on the issue and complicating Republicans’ approach to the 2024 elections.
2) Political polarization has helped make 2023 the biggest off-year for ballot measures in more than a decade in the US,
3) Israel said its troops have entered the middle of Gaza’s main city, as they continue their operation against Hamas.
4) Two days after former President Donald Trump testified at his New York Fraud trial, it's his daughter Ivanka's turn to take the stand.
Full transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with last night's election results and a major victory for abortion rights in Ohio. Voters approved Issue one, which enshrines the right to abortion access in the state constitution, by a fifty six to forty four percent margin. Bloomberg Politics reporter Mark Niquette is in Ohio and has more It passed pretty overwhelmingly. And what's going to get a lot of attention is this past in what has become a Republican state. And it's clear that this issue passed even in counties that Donald Trump carried pretty handily in twenty twenty. Bloomberg's Mark Mniquette reports this makes Ohio the latest state to back abortion rights after last year's Supreme Court decision to overturn Roe v. Wade. In the interest of transparency, we should note that Michael Bloomberg, founder and majority owner of Bloomberg Radio parent Bloomberg LP, donated a million dollars to the campaign supporting Ohio's abortion rights amendment. Well Nathan, It was also a good night for Democrats in Virginia, with every seat in the state legislature up for grabs. Democrats won majorities in both the House of Delegates and the state Senate. It's a blow to Republican Governor Glenn Youngkin. He's seen as a presidential contender in twenty twenty eight and had hoped to pass a fifteen week abortion band with GOP control. And in another major race, Democrat Andy Basher has won a second term as governor of Kentucky, a state former President Donald Trump carried by nearly twenty five points in twenty twenty And In other political news, Karen Tonight, in Miami, Republicans hold their third presidential debate. Five candidates will take part. Ron De Santis, Sneaky Haley, Vivek Ramaswami, Tim Scott, and Chris Christy Well Nathan notably absent, will be GOP front runner Donald Trump. Two days after the former president testified at his New York fraud trial, it's his daughter, Ivanka's turn to take the stand, and Bloomberg's ad Baxter has the story. The trial issue is whether Donald Trump inflated the worth of his properties to lenders and other business dealings. Ivanka Trump has pretty much disappeared from the public spotlight, opting to leave both New York and Washington, d C. For Miami, but part of what prosecutors want to look at as her role in several real estate transactions, as well as the valuation of her New York apartment, which they say was priced at about two and a half times the value ed Baxter Bloomberg Radio. Okay, Ed, thank you. We now turn to the latest developments in the war in the Middle East. Israel says its troops have entered the middle of Gaza's main city. Meanwhile, Saudi Arabia's Minister of Investment says talks toward normalization of ties with Israel remain on the table, Despite the Kingdom criticism of Israeli military action. We spoke exclusively with Khalid Alfala, you know when those discussions were taking place, and his Royal Highs, the Crown Prince was clear that it is contingent on a pathway to peace for resolution of the Palestinian questions. That was on the table, that remains on the table. And obviously the setback over the last month has brought that has clarified. Why was Saudi Arabia so adamant The resolution of the Palestinian conflict has to be part of a broader normalization in the Middle East. Saw the Investment Minister. Khalid Alfala added his country is pained on a human level at the loss of life in Gaza and in Israel. He spoke at the Bloomberg New Economy Forum in Singapore. Well back in the US, Nathan, the House is voted to censure Democrat Rashida Tahlieb of Michigan for her rhetoric about the Israel Hamas war, and Speaker Mike Johnson presided over the vote on this vote. Quote. The yea's are two one hundred and thirty four and the nays are one hundred eighty eight, with four answering present. The resolution is adopted. The House's action was an extraordinary rebuke of the only Palestinian American in Congress to leave defended her stance, saying she quote will not be silenced and I will not let you distort my words. Turning to markets now, Karen, the s and P five hundreds. Coming off seven straight days of gains. Today, investors await more clues on interest rates from a host of Central Bank officials, including FED share J. Powell. Yesterday, FED Governor Christopher Waller commented on the recent jump in tenure yields since the beginning of July. This thing has gone way up, almost a full percentage point. I think in Central Bank terms of financial markets, that's an earthquake. Governor Chris Waller notes yields on ten yere treasuries have climbed more than one hundred basis points since the end of July. Well, earnings will also be on investors' minds. This afternoon, we hear from Disney, Nathan and Bloomberg Stown Buzzby as a preview. With strong revenue expected at its theme parks, Disney forecasts report overall earnings growth for last quarter and to once again add subscribers to its flagship Disney Plus streaming service investors also watching any comment on when that streaming business will be profitable, the latest on spinning off its ESPN network into a separate streaming unit, and updates on selling off a ABC network and other non core media holdings. Bloomberg consensus calls for adjusted earnings per share of sixty nine cents revenue of twenty one point four to three billion dollars. Tom busby Bloomberg Radio, Okay, Tom, thanks and after the bell earnings to get you caught up on watching Shares of Robinhood They're down seven and to half percent in early trading. The online brokerage reported revenue that missed estimates. Bumble shares are down nine percent, a day after announcing it would replace its CEO. The dating app reported worse than expected revenue guidance. Rivian Automotive shares are up six and a half percent. The ev makers raising its forecast for overall production this year, and forgive me. Shares of Toast are Toast this morning they are down seventeen and a half percent. The restaurant software company lowered the upper range of its full year revenue forecast, and it is time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tunker. John Good Morning, Good morning, Karin. History made in the City of Brotherly Love. Among the results of tuesday's election, Democrat Cherrell Parker won Philadelphia's mayoral election. Parker becomes the first female mayor of the city. No matter where we went, our message stayed the same. And guess what I learned during that time Philadelphia that people were yearning for authenticity. Parker won with seventy four percent of the vote. Another first in the nation's small estate, Democrat Gave Mmo defeated Republican Jerry Leonard to win Rhode Island's first congressional district seat and become that state's first black candidate to elect it to Congress. The journey of so many Rhode Islanders and their families is one of Britain, hard work, determination and resilience. And I stand on the shoulders of so many who came before me to make this day possible. Imoll picked up sixty five percent of the vote there. Based on questions for the bench, a majority of justices on the Supreme Court appear inclined to uphold a federal gun ban on people who are under restraining orders for domestic violence. The Solicitor General, Elizabeth Prelogord defended the law. The constitutional principle is clear, you can disarm dangerous persons. The federal ban has been on the books for thirty years. We Works collapse is spreading through the battered commercial real estate industry, threatening to upend dozens of leases in cities including San Francisco and New York. That story from Bloomberg's Charlie Penllett. The co working giant spiral into bankruptcy, hit landlords along the way as it renegotiated and sought to exit many leases. Now Monday's bankwet see filing and a plan to terminate nearly seventy of those contracts is set to exacerbate issues facing many of we Work's landlords. The tenant wants out and could have more power to leave. Office owners have been grappling with a slowdown spurred by higher borrowing costs that are pressuring building values, as well as a shift in tenant demand with a rise in remote work in New York. Charlie Pellett, Bloomberg Radio and Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker, and this is Bloomberg Karen. All right, John, thank you. It is time now to get a check of sports. But first we're going to tell you that you may bring your news throughout the day here on Bloomberg Radio. But now, as John said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcast. Now is Sports Hears John stash Hour, John Karon. The college basketball season is underway and it begins with Kansas ranked number one. The Jayhawks had a season opening win on Monday, and the day after, they restructured the contract of their longtime coach Bill Selph. He's won two national championships, he's already in the Hall of Fame, and self's new contract means that he surpasses John Caliperi. He's now the highest paid coach in college hoops Baylor being Auburn eighty eight eighty two, a win for Saint John's playing for the first Summuner, their new coach, another Hall of Famer Rick Patino. There was no NBA. There's some big ones tonight. It's the Celtics and Sixers in Philadelphia. Both teams are five and one. Philly's four and oh at home Denver the defending NBA Champs seven and one, five and oh at home. And tonight welcoming in the Golden State Warriors. San Jose Sharks finally got a win. It was two to one over Philadelphia. That's their first win of the season. It comes in their twelfth games. See. Titans say they will stick with rookie quarterback Will Levis even when the incumbent QV Ryan Tannehill returns from his ankle injury. Lev Is very impressive in his first Star with He threw four touchdown passes. They drafted him in the second round out of Kentucky. Kyler Murray's going to make his season debut for Arizona on Sunday, back from the torn ACL suffered last season. Josh Dobbs not surprisingly becomes the starter in Minnesota. He was pressed into duty last Sunday because of an injury to the rookie quarterback who went down and Dobbs rallied the Vikings to victory. Of course, they've lost Kirk Cousins for the season. John Stanshleyer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We want to get you no more results from last night's off off year elections. Abortion rights may have been officially on the ballot in just one state, but the issue may have driven voters in races beyond that state Ohio, and into Virginia and perhaps beyond for more. We're joined now by Bloomberg News Senior editor Bill Ferries. Bill, good morning. It was a pretty overwhelming result for Issue one in Ohio. Does that results have residents into next year's election? Absolutely? I think for Democrats who have been really trying to get the party to focus on abortion rights, they're all seeing what they would call victories in Ohio, Kentucky and even Virginia last night, and I think they're going to say that that is a positive way forward for them looking into twenty twenty four after what is probably many would say has been a tough week looking at Paul showing President Biden perhaps lagging former President Trump in a number of the key swing states. So this is something I think, given the results last night, you're going to hear Democrats talking a lot more about in the coming months that abortion. I'm sorry. That result in Virginia in particular is pretty interesting because the Republican governor there, Glenn Youngkin, who's been talked about as a potential presidential candidate, not just in twenty twenty eight but this this cycle as well, had campaigned pretty hard on this idea that if Republicans took over the state legislature, that a fifteen week abortion ban could be passed in Virginia. What does this result for Democrats winning in Virginia mean for Youngkin's political prospects. Well, for Democrats, I think it's a big sigh of relief that the Virginia still came in I think on their side, and looks like both chambers are going to be in Democratic hands going into the going in the next year for Young Kin, I think it's going to be it's going to make that idea that he could be some sort of last minute candidate if for some reason Donald Trump is not in the race. It starts to rule that out. He has a much weaker hand facing Democrats in both chambers in terms of being able to get his policies passed and dominating the agenda. I think Democrats are going to try to set the tone once they take their seats. It does, you know, it's still I think the idea that Youngkin could could be a candidate in twenty twenty eight is also tested a little bit. It's so early to even be talking about that at this point. But if you're a potential yet we do. If you're a potential candidate looking that far ahead, you think about the agenda you want to set, the accomplishments, the legislative accomplishments you'd like to have. And I think this makes that a lot harder for someone like Governor Youngkin to plan out and game out ahead of that election. You know, almost five years from now. You mentioned Democrats potentially talking more about abortion rights into this election cycle. What about the economy, that's been an issue that this present has struggled to gain traction on. Does abortion override economic issues for voters in this election cycle? You know, that's the economy is often the deciding factor for a lot of voters going into the polling booth. I think there are definitely voters on both sides who would view abortions as the key issue, the biggest thing, the most important thing to them. But in the end, you know, I think the economy is often what swings voters either way, particularly those independent voters in the middle. If heading you know, in the months heading into November twenty twenty four, they're feeling better than they are now about the economy, that probably benefits the incumbent of the Biden administration. If they're feeling worse and there's a lot of signs that, you know, the economy could be struggling more next year than it is this year, then that makes it I think a harder slog for the president and his team to argue that they should remain in place. So it's the economy, you know, it's that Carville saying it's the economy stupid. I think that that's always going to be if not the biggest, one of the biggest factors. We know that voters right now are not very pleased with where things are, even if some of the numbers are perhaps better better than forecast. In the time we have left, Bill, I want to talk about geopolitics and the latest in the Israel Hamas war, with Israeli troops getting gaining ground in Gaza City and now the G seven commenting what's the latest. Yeah, so we heard from Israel, Israel's defense ministers today saying that their forces are now in the heart of Gaza City. You know, they've been they've kind of encircled Gaza at this point, and they say they're going after key Hamas leaders and trying to destroy some of the tunnel networks and the weapons depots that have been built up there. And the G seven coming out today, the foreign ministers coming out with a unified statement saying that there should be humanitarian pauses in the war. That's of course separate from a cease fire. But Israel, who's even pushed back on the idea of some of the pauses, saying that aid is getting in and any pause would only benefit Hamas. So lots of complicated politics going on there still. This is Bloomberg day Break 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 to one in Washington, Bloomberg one six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon alection devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg. 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 Daybreak
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Bloomberg is now on your dashboard with Apple Car Play 0:00:03.520 --> 0:00:04.640 and Android Auto. 0:00:04.880 --> 0:00:08.160 It's free with the latest version of the Bloomberg Business App. 0:00:08.360 --> 0:00:12.120 It gives you access to every Bloomberg podcast, live audio 0:00:12.160 --> 0:00:15.239 feeds from Bloomberg Radio, plus hear the latest headlines at 0:00:15.240 --> 0:00:17.440 the click of a button with Bloomberg News. 0:00:17.520 --> 0:00:17.800 Now. 0:00:18.120 --> 0:00:20.640 That's the Bloomberg Business App. Get it on your phone 0:00:20.680 --> 0:00:23.200 in the Apple App Store or on Google Play. 0:00:23.680 --> 0:00:25.880 Just download the app, connect your phone to your car, 0:00:26.079 --> 0:00:29.680 and get started. It's presented by our sponsor, Interactive Brokers. 0:00:32.479 --> 0:00:33.840 Good morning, I'm Nathan. 0:00:33.600 --> 0:00:36.560 Hager and I'm Karen Moscow. Here are the stories we're 0:00:36.600 --> 0:00:37.440 following today. 0:00:38.240 --> 0:00:41.240 We begin with last night's election results and a major 0:00:41.360 --> 0:00:42.800 victory for abortion rights. 0:00:42.840 --> 0:00:43.560 In Ohio. 0:00:43.840 --> 0:00:47.080 Voters approved Issue one, which enshrines the right to abortion 0:00:47.200 --> 0:00:50.280 access in the state constitution, by a fifty six to 0:00:50.360 --> 0:00:54.040 forty four percent margin. Bloomberg Politics reporter Mark Niquette is 0:00:54.040 --> 0:00:55.360 in Ohio and has more. 0:00:55.560 --> 0:00:57.880 It passed pretty overwhelmingly. And what's going to get a 0:00:57.880 --> 0:01:01.680 lot of attention is this past in what has become 0:01:02.000 --> 0:01:05.560 a Republican state. And it's clear that this issue passed 0:01:05.640 --> 0:01:08.280 even in counties that Donald Trump carried pretty handily in 0:01:08.319 --> 0:01:08.959 twenty twenty. 0:01:09.360 --> 0:01:12.440 Bloomberg's Mark Mniquette reports this makes Ohio the latest state 0:01:12.480 --> 0:01:15.200 to back abortion rights after last year's Supreme Court decision 0:01:15.200 --> 0:01:16.039 to overturn Roe v. 0:01:16.120 --> 0:01:16.520 Wade. 0:01:16.600 --> 0:01:19.360 In the interest of transparency, we should note that Michael Bloomberg, 0:01:19.400 --> 0:01:22.240 founder and majority owner of Bloomberg Radio parent Bloomberg LP, 0:01:22.400 --> 0:01:25.720 donated a million dollars to the campaign supporting Ohio's abortion 0:01:25.840 --> 0:01:26.440 rights amendment. 0:01:26.920 --> 0:01:29.240 Well Nathan, It was also a good night for Democrats 0:01:29.240 --> 0:01:32.440 in Virginia, with every seat in the state legislature up 0:01:32.440 --> 0:01:35.200 for grabs. Democrats won majorities in both the House of 0:01:35.280 --> 0:01:38.080 Delegates and the state Senate. It's a blow to Republican 0:01:38.120 --> 0:01:40.959 Governor Glenn Youngkin. He's seen as a presidential contender in 0:01:41.000 --> 0:01:43.440 twenty twenty eight and had hoped to pass a fifteen 0:01:43.440 --> 0:01:47.559 week abortion band with GOP control. And in another major race, 0:01:47.640 --> 0:01:50.320 Democrat Andy Basher has won a second term as governor 0:01:50.360 --> 0:01:53.480 of Kentucky, a state former President Donald Trump carried by 0:01:53.560 --> 0:01:55.720 nearly twenty five points in twenty twenty. 0:01:55.960 --> 0:01:56.559 And In other. 0:01:56.440 --> 0:01:59.880 Political news, Karen Tonight in Miami, Republicans hold their third 0:02:00.080 --> 0:02:04.240 residential debate. Five candidates will take part. Ron de Santis, 0:02:04.240 --> 0:02:08.600 Sneaky Haley, Vivek Ramaswami, Tim Scott, and Chris Christy Well. 0:02:08.680 --> 0:02:11.880 Nathan notably absent, will be GOP front runner Donald Trump. 0:02:11.919 --> 0:02:14.360 Two days after the former president testified at his New 0:02:14.400 --> 0:02:17.480 York fraud trial, it's his daughter, Ivanka's turn to take 0:02:17.520 --> 0:02:20.080 the stand and Bloomberg's at Baxter has the story. 0:02:20.240 --> 0:02:22.760 The trial issue is whether Donald Trump inflated the worth 0:02:22.760 --> 0:02:26.399 of his properties to lenders and other business dealings. Ivanka 0:02:26.400 --> 0:02:29.519 Trump has pretty much disappeared from the public spotlight, opting 0:02:29.560 --> 0:02:33.280 to leave both New York and Washington, d C. For Miami, 0:02:33.840 --> 0:02:36.000 but part of what prosecutors want to look at as 0:02:36.040 --> 0:02:39.280 her role in several real estate transactions, as well as 0:02:39.320 --> 0:02:43.399 the valuation of her New York apartment, which they say 0:02:43.480 --> 0:02:45.560 was priced at about two and a half times the 0:02:45.680 --> 0:02:48.440 value ed Baxter Bloomberg Radio. 0:02:48.360 --> 0:02:49.240 Okay, Ed, thank you. 0:02:49.520 --> 0:02:51.440 We now turn to the latest developments in the war 0:02:51.480 --> 0:02:53.919 in the Middle East. Israel says its troops have entered 0:02:53.919 --> 0:02:57.520 the middle of Gaza's main city. Meanwhile, Saudi Arabia's Minister 0:02:57.560 --> 0:03:00.360 of Investment says talks toward normalization of time eyes with 0:03:00.480 --> 0:03:03.840 Israel remain on the table. Despite the Kingdom's criticism of 0:03:03.880 --> 0:03:08.320 Israeli military action. We spoke exclusively with Khalid Alfala. 0:03:07.760 --> 0:03:10.480 You know when those discussions were taking place, and his 0:03:10.560 --> 0:03:13.200 Royal Highds, the Crown Prince was clear that it is 0:03:13.400 --> 0:03:20.440 contingent on a pathway to peace for resolution of the 0:03:20.480 --> 0:03:24.919 Palestinian questions. That was on the table, that remains on. 0:03:24.960 --> 0:03:28.880 The table, and obviously the setback over the last month 0:03:29.760 --> 0:03:33.680 has brought that has clarified. Why was Saudi Arabia so 0:03:33.960 --> 0:03:38.560 adamant The resolution of the Palestinian conflict has to be 0:03:38.760 --> 0:03:42.080 part of a broader normalization in the Middle East. 0:03:42.240 --> 0:03:45.600 Saudi Investment Minister Khalid Alfala added his country is pained 0:03:45.600 --> 0:03:47.400 on a human level at the loss of life in 0:03:47.400 --> 0:03:49.880 Gaza and in Israel. He spoke at the Bloomberg New 0:03:49.920 --> 0:03:51.440 Economy Forum in Singapore. 0:03:52.080 --> 0:03:54.240 Well back in the US, Nathan, the House is voted 0:03:54.240 --> 0:03:58.000 to censure Democrat Rashida Tahlieb of Michigan for her rhetoric 0:03:58.040 --> 0:04:01.560 about the Israel Hamas war. Seager Mike Johnson presided over 0:04:01.600 --> 0:04:02.280 the vote. 0:04:02.400 --> 0:04:05.400 On this vote, the yea's are two hundred and thirty 0:04:05.400 --> 0:04:08.440 four and the nay's are one hundred eighty eight, with 0:04:08.640 --> 0:04:12.600 four answering present, the resolution is adopted. 0:04:13.280 --> 0:04:16.240 The House's action was an extraordinary rebuke of the only 0:04:16.279 --> 0:04:20.040 Palestinian American in Congress to leave defended her stance, saying 0:04:20.040 --> 0:04:22.359 she quote will not be silenced and I will not 0:04:22.480 --> 0:04:23.839 let you distort my words. 0:04:24.200 --> 0:04:27.039 Turning to markets now, Karen, the s and P five hundreds. 0:04:27.040 --> 0:04:30.040 Coming off seven straight days of gains, today, investors will 0:04:30.040 --> 0:04:32.760 wait more clues on interest rates from a host of 0:04:32.839 --> 0:04:35.400 Central Bank officials, including FED share J. 0:04:35.600 --> 0:04:35.960 Powell. 0:04:36.080 --> 0:04:39.480 Yesterday, FED Governor Christopher Waller commented on the recent jump 0:04:39.480 --> 0:04:41.200 in tenure yields since the. 0:04:41.160 --> 0:04:44.760 Beginning of July. This thing has gone way up, almost 0:04:44.800 --> 0:04:48.440 a full percentage point. I think in Central Bank terms 0:04:48.480 --> 0:04:50.480 of financial markets, that's an earthquake. 0:04:50.880 --> 0:04:53.520 Governor Chris Waller notes yields on ten yure treasuries have 0:04:53.520 --> 0:04:55.920 climbed more than one hundred basis points since the end 0:04:55.920 --> 0:04:56.320 of July. 0:04:57.000 --> 0:05:00.400 Well, earnings will also be on investors' minds. This after afternoon, 0:05:00.440 --> 0:05:03.160 we hear from Disney, Nathan and bloomberg Stown. Buzzby has 0:05:03.200 --> 0:05:06.520 a preview with strong revenue expected at its theme parks. 0:05:06.520 --> 0:05:10.000 Disney forecast report overall earnings growth for last quarter and 0:05:10.040 --> 0:05:13.520 to once again add subscribers to its flagship Disney Plus 0:05:13.600 --> 0:05:16.919 streaming service. Investors also watching any comment on when that 0:05:17.040 --> 0:05:20.000 streaming business will be profitable, the latest on spinning off 0:05:20.000 --> 0:05:24.480 its ESPN network into a separate streaming unit, and updates 0:05:24.520 --> 0:05:27.160 on selling off a ABC network and other non core 0:05:27.240 --> 0:05:30.719 media holdings. Bloomberg consensus calls for adjusted earnings per share 0:05:30.920 --> 0:05:33.840 of sixty nine cents revenue of twenty one point four 0:05:33.839 --> 0:05:37.279 to three billion dollars. Tom busby Bloomberg Radio. 0:05:37.200 --> 0:05:39.440 Okay, Tom, thanks, and after the bell earnings to get 0:05:39.440 --> 0:05:42.080 you caught up on watching Shares of Robinhood They're down 0:05:42.120 --> 0:05:44.400 seven and to half percent in early trading. The online 0:05:44.400 --> 0:05:48.160 brokerage reported revenue that missed estimates. Bumble shares are down 0:05:48.440 --> 0:05:51.560 nine percent, a day after announcing it would replace its CEO. 0:05:51.720 --> 0:05:55.359 The dating app reported worse than expected revenue guidance. Rivian 0:05:55.360 --> 0:05:58.400 Automotive shares are up six and a half percent, the 0:05:58.440 --> 0:06:01.600 ev makers raising its forecast for overall production this year, 0:06:02.160 --> 0:06:05.560 and forgive me but shares of Toast are Toast this 0:06:05.720 --> 0:06:08.919 morning they are down seventeen and a half percent. The 0:06:08.960 --> 0:06:12.040 restaurant software company lowered the upper range of its full 0:06:12.080 --> 0:06:17.600 year revenue forecast, and. 0:06:17.560 --> 0:06:18.840 It is time now for a look at some of 0:06:18.839 --> 0:06:20.880 the other stories making news around the world. For that, 0:06:20.920 --> 0:06:23.120 we're joined by Bloomberg's John Tunker. John. 0:06:23.120 --> 0:06:26.279 Good morning, Good morning Karen. In history made in the 0:06:26.320 --> 0:06:30.000 City of Brotherly Love. Among the results of Tuesday's election, 0:06:30.320 --> 0:06:35.000 Democrat Cherrel Parker won Philadelphia's mayoral election. Parker becomes the 0:06:35.000 --> 0:06:36.479 first female mayor of the city. 0:06:36.600 --> 0:06:41.880 No matter where we went, our message stayed the same. 0:06:42.040 --> 0:06:42.839 And guess what I. 0:06:42.960 --> 0:06:48.880 Learned during that time Philadelphia that people were yearning for authenticity. 0:06:49.120 --> 0:06:52.320 Parker won with seventy four percent of the vote. Another 0:06:52.440 --> 0:06:56.000 first in the nation, Small Estate Democrat gave Mo defeated 0:06:56.000 --> 0:06:59.760 Republican Jerry Leonard to win Rhode Island's first congressional district 0:06:59.800 --> 0:07:03.680 seat and become that state's first black candidate elected to Congress. 0:07:03.760 --> 0:07:06.880 The journey of so many Rhode Islanders and their families 0:07:07.160 --> 0:07:12.040 is one of brit hard work, determination and resilience. And 0:07:12.320 --> 0:07:16.120 I stand on the shoulders of so many who came 0:07:16.160 --> 0:07:18.640 before me to make this day possible. 0:07:18.720 --> 0:07:21.360 I will picked up sixty five percent of the vote 0:07:21.400 --> 0:07:24.520 there based on questions for the bench, A majority of 0:07:24.680 --> 0:07:27.760 justices on the Supreme Court appear inclined to uphold a 0:07:27.760 --> 0:07:30.440 federal gun ban on people who are under restraining orders 0:07:30.440 --> 0:07:35.080 for domestic violence. The Solicitor General, Elizabeth Prelogord defended the law. 0:07:35.240 --> 0:07:39.600 The constitutional principle is clear, you can disarm dangerous persons. 0:07:40.720 --> 0:07:43.280 The federal ban has been on the books for thirty years. 0:07:43.520 --> 0:07:46.520 We Works collapse is spreading through the battered commercial real 0:07:46.640 --> 0:07:50.400 estate industry, threatening to upend dozens of leases in cities 0:07:50.440 --> 0:07:53.680 including San Francisco and New York. That story from Bloomberg's 0:07:53.720 --> 0:07:54.360 Charlie Pellett. 0:07:54.440 --> 0:07:58.080 The co working giant spiral into bankruptcy, hit landlords along 0:07:58.120 --> 0:08:01.320 the way as it renegotiated and saw to exit many leases. 0:08:01.760 --> 0:08:05.400 Now Monday's bankruptcy filing and a plan to terminate nearly 0:08:05.520 --> 0:08:10.000 seventy of those contracts is set to exacerbate issues facing 0:08:10.120 --> 0:08:13.520 many of we Work's landlords. The tenant wants out and 0:08:13.560 --> 0:08:16.440 could have more power to leave. Office owners have been 0:08:16.480 --> 0:08:19.760 grappling with a slowdown spurred by higher borrowing costs that 0:08:19.800 --> 0:08:22.760 are pressuring building values, as well as a shift in 0:08:22.840 --> 0:08:26.440 tenant demand with a rise in remote work in New York. 0:08:26.560 --> 0:08:28.440 Charlie Pellett Bloomberg radio. 0:08:28.280 --> 0:08:31.040 And global news twenty four hours a day and whenever 0:08:31.080 --> 0:08:34.160 you want it with Bloomberg News Now. I'm John Tucker 0:08:34.240 --> 0:08:35.840 and this is Bloomberg Karen. 0:08:36.320 --> 0:08:38.640 All right, John, thank you. It is time now to 0:08:38.640 --> 0:08:40.839 get a check of sports. But first we're going to 0:08:40.920 --> 0:08:42.719 tell you that you may bring your news throughout the 0:08:42.800 --> 0:08:45.600 day here on Bloomberg Radio. But now, as John said, 0:08:45.640 --> 0:08:48.120 you can get the latest news on demand whenever you 0:08:48.200 --> 0:08:50.719 want it. Subscribe to Bloomberg News Now to get the 0:08:50.800 --> 0:08:53.559 latest headlines at the click of a button. Get informed 0:08:53.600 --> 0:08:56.400 on your schedule. You can listen and subscribe to Bloomberg 0:08:56.440 --> 0:08:59.280 News Now on the Bloomberg Business Nopp, Bloomberg dot Com 0:08:59.360 --> 0:09:07.800 plus Apple, Spotify, and anywhere else you get your podcasts. 0:09:07.840 --> 0:09:11.079 Now is Sports Hears John stash Hour, John Karon. 0:09:11.120 --> 0:09:13.680 The college basketball season is underway and it begins with 0:09:13.800 --> 0:09:16.600 Kansas ranked number one. The Jayhawks had a season opening 0:09:16.679 --> 0:09:20.080 win on Monday, and the day after, they restructured the 0:09:20.120 --> 0:09:23.520 contract of their longtime coach Bill Selph. He's won two 0:09:23.679 --> 0:09:26.480 national championships, he's already in the Hall of Fame, and 0:09:26.640 --> 0:09:30.760 self's new contract means that he surpasses John Caliperi. He's 0:09:30.760 --> 0:09:33.880 now the highest paid coach in college hoops, Baylor being 0:09:33.880 --> 0:09:36.400 Auburn eighty eight eighty two, a win for Saint John's 0:09:36.640 --> 0:09:38.920 playing for the first time of their new coach, another 0:09:39.000 --> 0:09:41.880 Hall of Famer Rick Patino. There was no NBA. There's 0:09:41.880 --> 0:09:45.160 some big ones tonight. It's the Celtics and Sixers in Philadelphia. 0:09:45.200 --> 0:09:47.720 Both teams are five and one, Philly's four and oh 0:09:47.800 --> 0:09:50.880 at home Denver the defended NBA Champs seven and. 0:09:50.880 --> 0:09:52.200 One, five and oh at home. 0:09:52.440 --> 0:09:55.960 And tonight welcoming in the Golden State Warriors. San Jose 0:09:56.080 --> 0:09:57.840 Sharks finally got a win. It was two to one 0:09:57.880 --> 0:10:00.160 over Philadelphia. That's their first win of the season and 0:10:00.200 --> 0:10:04.000 it comes in their twelfth game. Tennessee Titans say they 0:10:04.000 --> 0:10:06.839 will stick with rookie quarterback Will Levis even when the 0:10:06.960 --> 0:10:11.920 incumbent QV Ryan Tannehill returns from his ankle injury. Lev 0:10:12.040 --> 0:10:14.280 Is very impressive in his first Star with he threw 0:10:14.320 --> 0:10:17.480 four touchdown passes. They drafted him in the second round 0:10:17.520 --> 0:10:19.920 out of Kentucky. Kyler Murray's going to make his season 0:10:19.960 --> 0:10:23.320 debut for Arizona on Sunday, back from the torn acl 0:10:23.360 --> 0:10:27.280 suffered last season. Josh Dobbs not surprisingly becomes the starter 0:10:27.400 --> 0:10:31.880 in Minnesota. He was pressed into duty last Sunday because 0:10:31.920 --> 0:10:34.480 of an injury to the rookie quarterback who went down, 0:10:34.520 --> 0:10:37.040 and Dobbs rallied the Vikings to victory. Of course, they've 0:10:37.040 --> 0:10:40.400 lost Kirk Cousins for the season. John Stanshleyer Bloomberg. 0:10:40.040 --> 0:10:46.119 Sports from coast to coast, from New York to San Francisco, 0:10:46.520 --> 0:10:51.160 Boston to Washington, DC, nationwide on Syrias XAM, the Bloomberg 0:10:51.200 --> 0:10:56.920 Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, 0:10:56.920 --> 0:10:57.800 I'm Nathan Hager. 0:10:57.840 --> 0:11:00.400 We want to get you know, more results from last 0:11:00.440 --> 0:11:03.960 night's off off year elections. Abortion rights may have been 0:11:04.000 --> 0:11:06.280 officially on the ballot in just one state, but the 0:11:06.360 --> 0:11:10.520 issue may have driven voters in races beyond that state, Ohio, 0:11:10.760 --> 0:11:13.839 and into Virginia and perhaps beyond for more. We're joined 0:11:13.840 --> 0:11:17.560 now by Bloomberg News Senior editor Bill Ferries. Bill, Good morning. 0:11:17.640 --> 0:11:21.880 It was a pretty overwhelming result for Issue one in Ohio. 0:11:22.320 --> 0:11:25.480 Does that results have residents into next year's election? 0:11:26.640 --> 0:11:31.040 Absolutely. I think for Democrats who have been really trying 0:11:31.080 --> 0:11:34.240 to get the party to focus on abortion rights, they're 0:11:34.280 --> 0:11:38.520 all seeing what they would call victories in Ohio, Kentucky, 0:11:38.559 --> 0:11:41.760 and even Virginia last night, and I think they're going 0:11:41.800 --> 0:11:44.520 to say that that is a positive way forward for 0:11:44.600 --> 0:11:48.160 them looking into twenty twenty four after what is probably 0:11:48.360 --> 0:11:50.760 many would say has been a tough week looking at 0:11:51.280 --> 0:11:57.160 Paul showing President Biden perhaps lagging former President Trump in 0:11:57.200 --> 0:11:59.760 a number of the key swing states. So this is 0:11:59.760 --> 0:12:02.280 something I think, given the results last night, you're going 0:12:02.320 --> 0:12:05.240 to hear Democrats talking a lot more about in the 0:12:05.280 --> 0:12:07.040 coming months that abortion. 0:12:07.240 --> 0:12:07.760 I'm sorry. 0:12:07.840 --> 0:12:11.760 That result in Virginia in particular is pretty interesting because 0:12:11.800 --> 0:12:14.960 the Republican governor there, Glenn Youngkin, who's been talked about 0:12:15.000 --> 0:12:19.040 as a potential presidential candidate not just in twenty twenty 0:12:19.080 --> 0:12:23.120 eight but in this cycle as well, had campaigned pretty 0:12:23.120 --> 0:12:26.319 hard on this idea that if Republicans took over the 0:12:26.600 --> 0:12:30.320 state legislature, that a fifteen week abortion ban could be 0:12:30.400 --> 0:12:35.440 passed in Virginia. What does this result for Democrats winning 0:12:35.480 --> 0:12:39.400 in Virginia mean for Youngkin's political prospects. 0:12:40.200 --> 0:12:42.760 Well, for Democrats, I think it's a big sigh of 0:12:42.800 --> 0:12:47.200 relief that the Virginia still came in I think on 0:12:47.280 --> 0:12:50.160 their side and looks like both chambers are going to 0:12:50.160 --> 0:12:54.440 be in Democratic hands going into the going into next year. 0:12:55.320 --> 0:12:57.800 For Young Kin, I think it's going to be it's 0:12:57.840 --> 0:12:59.880 going to make that idea that he could be some 0:13:00.040 --> 0:13:03.400 sort of last minute candidate if for some reason Donald 0:13:03.440 --> 0:13:06.160 Trump is not in the race, it starts to rule 0:13:06.200 --> 0:13:09.400 that out. He has a much weaker hand facing Democrats 0:13:09.400 --> 0:13:11.640 in both chambers in terms of being able to get 0:13:11.640 --> 0:13:15.360 his policies passed and dominating the agenda. I think Democrats 0:13:15.360 --> 0:13:18.199 are going to try to set the tone once they 0:13:18.240 --> 0:13:21.680 take their seats. It does, you know, it's still I 0:13:21.720 --> 0:13:24.560 think the idea that Youngkin could could be a candidate 0:13:24.600 --> 0:13:27.120 in twenty twenty eight is also tested a little bit. 0:13:27.160 --> 0:13:29.839 It's so early to even be talking about that at 0:13:29.840 --> 0:13:34.040 this point. But if you're a potential yet we do. 0:13:34.280 --> 0:13:37.200 If you're a potential candidate looking that far ahead, you 0:13:37.280 --> 0:13:39.920 think about the agenda you want to set, the accomplishments, 0:13:39.920 --> 0:13:43.360 the legislative accomplishments you'd like to have. And I think 0:13:43.440 --> 0:13:46.160 this makes that a lot harder for someone like Governor 0:13:46.240 --> 0:13:49.880 Youngkin to plan out and game out ahead of that election. 0:13:50.040 --> 0:13:52.160 You know, almost five years from now. 0:13:52.200 --> 0:13:56.920 You mentioned Democrats potentially talking more about abortion rights into 0:13:56.960 --> 0:14:01.240 this election cycle. What about the economy that's been an 0:14:01.280 --> 0:14:05.199 issue that this president has struggled to gain traction on. 0:14:05.920 --> 0:14:11.440 Does abortion override economic issues for voters in this election cycle? 0:14:12.320 --> 0:14:18.480 You know, that's the economy is often the deciding factor 0:14:18.559 --> 0:14:20.600 for a lot of voters going into the polling booth. 0:14:20.680 --> 0:14:24.360 I think there are definitely voters on both sides who 0:14:24.480 --> 0:14:29.120 would view abortions as the key issue, the biggest thing, 0:14:29.160 --> 0:14:31.360 the most important thing to them. But in the end, 0:14:31.400 --> 0:14:34.240 you know, I think the economy is often what swings 0:14:34.640 --> 0:14:37.960 voters either way, particularly those independent voters in the middle. 0:14:38.560 --> 0:14:41.400 If heading you know, in the months heading into November 0:14:41.440 --> 0:14:44.680 twenty twenty four, they're feeling better than they are now 0:14:45.080 --> 0:14:48.480 about the economy, that probably benefits the incumbent of the 0:14:48.480 --> 0:14:51.880 Biden administration. If they're feeling worse, and there's a lot 0:14:51.880 --> 0:14:54.680 of signs that, you know, the economy could be struggling 0:14:54.720 --> 0:14:58.240 more next year than it is this year, then that 0:14:58.320 --> 0:15:00.520 makes it I think a harder slog for a president 0:15:00.520 --> 0:15:04.280 and his team to argue that they should remain in place. 0:15:04.320 --> 0:15:07.640 So it's the economy, you know, it's that Carville saying 0:15:07.680 --> 0:15:11.080 it's the economy stupid. I think that that's always going 0:15:11.160 --> 0:15:13.800 to be, if not the biggest, one of the biggest factors. 0:15:14.040 --> 0:15:16.400 We know that voters right now are not very pleased 0:15:16.440 --> 0:15:18.840 with where things are, even if some of the numbers 0:15:18.880 --> 0:15:21.440 are perhaps better better than forecast. 0:15:21.840 --> 0:15:23.280 In the time we have left, Bill, I want to 0:15:23.280 --> 0:15:26.360 talk about geopolitics and the latest in the Israel Hamas war, 0:15:26.440 --> 0:15:29.600 with Israeli troops getting gaining ground in Gaza City and 0:15:29.640 --> 0:15:32.359 now the G seven commenting what's the latest. 0:15:32.640 --> 0:15:37.400 Yeah, so we heard from Israel, Israel's defense ministers today 0:15:37.440 --> 0:15:39.840 saying that their forces are now in the heart of 0:15:39.880 --> 0:15:42.760 Gaza City. You know they've been they've kind of encircled 0:15:42.760 --> 0:15:45.200 Gaza at this point, and they say they're going after 0:15:45.960 --> 0:15:48.960 key Hamas leaders and trying to destroy some of the 0:15:49.000 --> 0:15:52.200 tunnel networks and the weapons depots that have been built 0:15:52.280 --> 0:15:55.280 up there. And the G seven coming out today, the 0:15:55.680 --> 0:15:58.880 foreign ministers coming out with a unified statement saying that 0:15:58.920 --> 0:16:02.120 there should be humanity pauses in the war. That's of 0:16:02.160 --> 0:16:05.840 course separate from a ceasefire. But Israel, who's even pushed 0:16:05.880 --> 0:16:08.080 back on the idea of some of the pauses, saying 0:16:08.120 --> 0:16:13.240 that eight is getting in and any pause would only 0:16:13.280 --> 0:16:17.440 benefit Hamas. So lots of complicated politics going on there. 0:16:17.480 --> 0:16:22.680 Still, This is Bloomberg day Break Today, your morning brief 0:16:22.720 --> 0:16:25.680 on the stories making news from Wall Street to Washington 0:16:25.760 --> 0:16:26.400 and beyond. 0:16:26.680 --> 0:16:29.440 Look for us on your podcast feed at six am 0:16:29.520 --> 0:16:33.200 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:33.240 --> 0:16:34.440 get your podcasts. 0:16:34.560 --> 0:16:37.240 You can also listen live each morning starting at five 0:16:37.280 --> 0:16:39.880 am Wall Street Time on Bloomberg eleven three to zero 0:16:39.920 --> 0:16:42.760 in New York, Bloomberg ninety nine to one in Washington, 0:16:42.880 --> 0:16:45.760 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:45.840 --> 0:16:47.520 ninety sixty in San Francisco. 0:16:47.880 --> 0:16:51.040 Our flagship New York station is also available on your 0:16:51.080 --> 0:16:56.880 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:56.560 --> 0:17:00.120 Listen coast to coast on the Bloomberg Business app, serious XM, 0:17:00.160 --> 0:17:04.360 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:17:04.160 --> 0:17:07.280 And I'm Karen Moscow. Join us again tomorrow morning for 0:17:07.400 --> 0:17:09.920 all the news you need to start your day, right 0:17:09.960 --> 0:17:19.520 here on Bloomberg Daybreak