Trump Delivers his RNC Speech; Calls Grow for Biden to Drop Out

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.720 --> 0:00:10.280 Good morning. 0:00:10.320 --> 0:00:13.119 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.160 --> 0:00:14.640 stories we're following today. 0:00:14.880 --> 0:00:17.360 Karen will have more on the Republican National Convention and 0:00:17.480 --> 0:00:19.640 Donald Trump's speech from last night in just a moment, 0:00:19.680 --> 0:00:23.480 But we begin with outages sweeping the world. Banks and 0:00:23.720 --> 0:00:28.280 airlines are reporting technical glitches after Microsoft reported an outage 0:00:28.280 --> 0:00:32.320 across its online services. Bloomberg's Ewan Pots joins us with 0:00:32.400 --> 0:00:33.600 the details from London. 0:00:33.640 --> 0:00:36.000 Good morning, Ewan, Nathan and Karen. 0:00:36.040 --> 0:00:40.120 Global disruption today as a software glitch takes down computer systems. 0:00:40.440 --> 0:00:44.000 Airlines in the America's, Europe and Asia suspending flights on 0:00:44.080 --> 0:00:49.120 an unprecedented scale as a widespread computer outage causes chaos. 0:00:49.240 --> 0:00:52.880 The problems are reported to be related to crowdstrikes cyber 0:00:52.960 --> 0:00:57.160 security software operating on Windows computers. And it's not just 0:00:57.240 --> 0:01:02.080 the airlines. The disruption affecting companies as divert us, as, JP, Morgan, McDonald's, 0:01:02.080 --> 0:01:04.959 and the London Stock Exchange. Live in London, I'm you 0:01:05.000 --> 0:01:06.120 in Pots Bloomberg Radio. 0:01:06.400 --> 0:01:08.120 All right you and thank you, and will continue to 0:01:08.160 --> 0:01:10.200 follow this story all morning long for you. 0:01:10.280 --> 0:01:10.920 But we do want to. 0:01:10.920 --> 0:01:14.280 Turn back to politics. Former President Donald Trump accepted the 0:01:14.319 --> 0:01:18.200 Republican Party's nomination for president last night for the third time. 0:01:18.480 --> 0:01:21.039 His keynote address was his first public speech since the 0:01:21.080 --> 0:01:24.840 assassination attempt last weekend. Trump says he rewrote this speech 0:01:24.880 --> 0:01:28.440 after the near death experience, aiming to strike a uniting tone. 0:01:28.959 --> 0:01:33.120 The discord and division in our society must be healed. 0:01:33.400 --> 0:01:36.919 We must heal it quickly. As Americans, we are bound 0:01:36.959 --> 0:01:41.200 together by a single faith and a shared destiny. We 0:01:41.319 --> 0:01:43.840 rise together, or we fall apart. 0:01:44.240 --> 0:01:47.680 After addressing the assassination attempt, at the beginning of his speech, 0:01:47.760 --> 0:01:51.000 Trump launched into a broad pitch for a second term. 0:01:51.360 --> 0:01:55.320 I will end the devastating inflation crisis, immediately, bring down 0:01:55.360 --> 0:01:57.720 interest rates, and lower the cost of energy. 0:01:58.240 --> 0:02:01.160 We will drill, baby, drill. 0:02:02.720 --> 0:02:06.080 And While former President Trump made multiple calls for unity, 0:02:06.160 --> 0:02:09.239 he also directed criticism at his political rival. 0:02:09.600 --> 0:02:12.079 If you took the ten worst presidents in the history 0:02:12.080 --> 0:02:14.480 of the United States, think of it, the ten worst, 0:02:14.919 --> 0:02:17.359 added them up, they will not have done the damage 0:02:17.440 --> 0:02:20.519 that Biden has done. Only going to use the term 0:02:20.560 --> 0:02:23.680 once Biden, I'm not going to use the name anymore, 0:02:23.800 --> 0:02:25.640 just one time, more than. 0:02:25.560 --> 0:02:28.519 An hour and a half. Trump's speech was the longest 0:02:28.600 --> 0:02:31.079 ever for a nominee in the modern era. 0:02:31.120 --> 0:02:34.600 And Karen Trump's keynot address closes a Republican convention that 0:02:34.680 --> 0:02:39.080 demonstrated momentum and confidence that the former president will return 0:02:39.120 --> 0:02:42.680 to the White House in November. Bloomberg Politics contributor Jeanie 0:02:42.720 --> 0:02:46.240 Shanzano says while Trump's polling ahead of President Biden on 0:02:46.280 --> 0:02:49.760 several key issues, his rhetoric and selection of JD. Vance 0:02:49.800 --> 0:02:52.120 as a running mate could create an opening for Democrats. 0:02:52.600 --> 0:02:55.720 Democrats are happy with what they've heard because they thought 0:02:55.720 --> 0:02:58.200 this was going to be a unifying Trump trying to 0:02:58.200 --> 0:03:01.600 present a new and improved Trump, and what they got 0:03:01.639 --> 0:03:05.440 after the beginning of that speech was more of the same. 0:03:05.639 --> 0:03:08.400 And I think that's what Democrats have been warning of 0:03:08.400 --> 0:03:12.760 people about. This man, at seventy eight years old, has 0:03:12.880 --> 0:03:14.160 not changed at all. 0:03:14.360 --> 0:03:17.919 And Bloomberg Politics contributor Rick Davis says Trump's speech ultimately 0:03:18.080 --> 0:03:19.840 sounded disjointed at. 0:03:19.720 --> 0:03:23.440 The very beginning, when he talked about the assassination attempt 0:03:23.520 --> 0:03:26.440 last Saturday night. I think that that's when most people 0:03:26.440 --> 0:03:29.239 were probably tuning in. The rest of the speech became 0:03:29.320 --> 0:03:34.000 sort of this combination platter of his favorite tropes from 0:03:34.200 --> 0:03:37.640 the rallies and then a set speech and he would 0:03:37.680 --> 0:03:39.880 just move in and out of them. And I would 0:03:39.920 --> 0:03:42.840 like to say flawlessly, but it was not flawless. 0:03:42.360 --> 0:03:45.240 And Bloomberg Politics contributor Rick Davis says the second half 0:03:45.280 --> 0:03:48.160 of the speech did not effectively communicate Trump's message or 0:03:48.200 --> 0:03:50.360 strike a unifying tone well Nathan. 0:03:50.400 --> 0:03:54.520 As Republicans closed out their convention, President Biden remains committed 0:03:54.520 --> 0:03:57.680 to running, but now reports indicate he might be open 0:03:57.760 --> 0:04:02.200 to hearing concerns about his Campaignlombergh Amy Morris reports from Washington. 0:04:02.720 --> 0:04:05.680 President Biden has reportedly asked for polling on how Vice 0:04:05.720 --> 0:04:08.960 President Kamala Harris would do against Trump. That according to 0:04:09.000 --> 0:04:11.880 an ABC reporter in a post on x citing an 0:04:11.960 --> 0:04:15.920 unidentified senior White House official, ABC reports, the President now 0:04:15.920 --> 0:04:18.760 appears to be more receptive to hearing out calls for 0:04:18.839 --> 0:04:21.240 him to bow out of the race. This as a 0:04:21.240 --> 0:04:24.880 new CBS News you Gov survey shows Republican Donald Trump 0:04:24.880 --> 0:04:29.120 has widened his lead against President Biden by five points nationwide, 0:04:29.320 --> 0:04:33.039 and he leads Vice President Harris by three points. Amy Morris, 0:04:33.080 --> 0:04:34.120 Bloomberg Radio. 0:04:34.040 --> 0:04:36.360 Right, Amy, thank you and the Democratic pressure is mounting 0:04:36.440 --> 0:04:39.239 on the president. The Associated Press is reporting the Biden 0:04:39.320 --> 0:04:42.440 campaigns holding an all staff meeting today. That follows a 0:04:42.560 --> 0:04:45.640 Washington Post report that former House Speaker Nancy Pelosi thinks 0:04:45.680 --> 0:04:48.279 Biden is close to being convinced to end his campaign. 0:04:48.680 --> 0:04:52.200 Pay Brad's. Former president Barack Obama told allies that Biden's 0:04:52.240 --> 0:04:55.640 pathway to victory is greatly diminished. On top of all 0:04:55.680 --> 0:04:58.320 of that, the New York Times says several people close 0:04:58.360 --> 0:05:00.719 to President Biden think he had it has begun to 0:05:00.760 --> 0:05:02.800 accept the notion he may not be able to win 0:05:02.920 --> 0:05:06.159 in November. As all this is happening, the President is 0:05:06.200 --> 0:05:09.080 still recovering from COVID nineteen. The White House says his 0:05:09.160 --> 0:05:11.280 symptoms are mild. 0:05:10.720 --> 0:05:13.400 But publicly, Nathan not all Democrats are calling on the 0:05:13.440 --> 0:05:16.320 President to step aside. Here's New York Governor Kathy Hochel 0:05:16.400 --> 0:05:17.920 speaking with Bloomberg yesterday. 0:05:18.240 --> 0:05:21.479 He has delivered for New York in extraordinary ways. I 0:05:21.520 --> 0:05:24.640 look forward to talking about even more, and I believe 0:05:24.640 --> 0:05:27.080 in his vision for our country. So I am with 0:05:27.200 --> 0:05:28.520 him as long as he wants to do this. 0:05:28.920 --> 0:05:32.080 New York Governor Kathy Hochel added that she believes Biden 0:05:32.160 --> 0:05:33.920 has been an extraordinary president. 0:05:34.240 --> 0:05:38.479 Certain company news now karen an earnings smash from Netflix. 0:05:38.640 --> 0:05:42.039 The streaming giant added eight million new subscribers in the 0:05:42.080 --> 0:05:45.880 second quarter, nearly double the average estimate, and it also 0:05:46.000 --> 0:05:50.200 upgraded sales and profit forecasts for the year. Bloomberg Intelligence 0:05:50.160 --> 0:05:54.000 analyst Keith the Ronganathan calls the Netflix report a complete blowout. 0:05:54.360 --> 0:05:57.640 Remember they had first predicted twenty four percent operating margin 0:05:57.640 --> 0:05:59.200 for the whole of twenty twenty four. They took that 0:05:59.279 --> 0:06:01.400 up to twenty five percent, and last quarter now up 0:06:01.440 --> 0:06:05.080 to twenty six percent. That's a five hundred basis point 0:06:05.160 --> 0:06:07.520 increase from last year. Very likely that we can see 0:06:07.560 --> 0:06:10.360 up to thirty percent margins, maybe even as early as 0:06:10.480 --> 0:06:11.040 next year. 0:06:11.960 --> 0:06:15.200 Gate the wrong Anathan with Bloomberg Intelligence says Netflix's surgeon 0:06:15.240 --> 0:06:18.280 growth comes as most streaming competitors slow down. 0:06:19.200 --> 0:06:19.680 Elsewhere. 0:06:19.720 --> 0:06:23.200 In company news, Nathan Broadcom shares gained almost three percent 0:06:23.360 --> 0:06:26.960 yesterday after the Information reported that the chip designer discussed 0:06:26.960 --> 0:06:31.000 making an artificial intelligence chip for Open Ai, and shares 0:06:31.040 --> 0:06:34.520 of Hawaiian Electric are higher this morning, up forty percent. 0:06:34.600 --> 0:06:37.599 It comes as Bloomberg News reported Hawaiian Electric is among 0:06:37.680 --> 0:06:40.880 companies that tentatively agreed to pay more than four billion 0:06:40.960 --> 0:06:45.200 dollars to resolve lawsuits over last year's Maui wildfires. Other 0:06:45.360 --> 0:06:48.960 defendants include a unit of cable provider Charter Communications. 0:06:49.000 --> 0:06:50.680 And as for the broader market, Karen we saw a 0:06:50.720 --> 0:06:54.160 pullback in megacap tech stocks broadening out to a wider 0:06:54.279 --> 0:06:57.680 sell off yesterday. Concerns about a weakening economy and political 0:06:57.800 --> 0:07:01.360 uncertainty are moving into focus. Bloomy Berg macro strategist Mark 0:07:01.400 --> 0:07:06.160 Cudmore says market voluntility did increase, but probably didn't mark 0:07:06.200 --> 0:07:07.440 a big turning point. 0:07:07.480 --> 0:07:10.400 This is just a mini mini correction and I probably 0:07:10.440 --> 0:07:12.120 have a little bit more to play it, but I 0:07:12.160 --> 0:07:15.120 don't see it being drastic. I think the bigger story, 0:07:15.160 --> 0:07:17.720 the one that's maybe the chance to be sustainable, is 0:07:17.760 --> 0:07:20.440 the bigger kind of change of leadership that might be 0:07:20.520 --> 0:07:22.680 taking place. But there's a chance here that we could 0:07:22.680 --> 0:07:25.800 see the stock market have increased volatility, but overall we 0:07:25.840 --> 0:07:29.000 could see the big cup tech name suffer. 0:07:28.680 --> 0:07:29.240 A lot more. 0:07:29.400 --> 0:07:33.240 Bloomberg's Mark Cudmore says traders could revive positive sentiment next 0:07:33.240 --> 0:07:42.120 week when several big tech companies report earnings. 0:07:39.560 --> 0:07:40.920 And it's time now for a look at some of 0:07:40.960 --> 0:07:43.280 the other stories making news in New York and around 0:07:43.320 --> 0:07:45.320 the world. And for that we're joined by Bloomberg So 0:07:45.400 --> 0:07:47.320 Michael Barr, Michael, good Morning. 0:07:47.120 --> 0:07:50.480 Good Morning, Care and Russian court officials said closing arguments 0:07:50.480 --> 0:07:52.880 have begun in the trial of Wall Street General reporter 0:07:52.920 --> 0:07:58.560 Evan Gerskovich. Prosecutors are seeking eighteen years in jail facis 0:07:58.680 --> 0:08:01.720 charges are spying that he The journal and the US 0:08:01.840 --> 0:08:06.560 government have vehemently denied. Kriskovich has remained in custody since 0:08:06.560 --> 0:08:09.320 his arrest in March of twenty twenty three while on 0:08:09.360 --> 0:08:12.640 a reporting trip to the Ural Mountains. A New York 0:08:12.640 --> 0:08:15.760 City council member who was arrested during a protest on 0:08:15.800 --> 0:08:19.960 Wednesday is talking about what happened. Councilwoman that Susan Jung 0:08:20.640 --> 0:08:24.280 was charged after allegedly biting an NYPD chief during a 0:08:24.320 --> 0:08:28.680 protest against a proposed men's shelter in the benson Hurst 0:08:28.720 --> 0:08:33.240 neighborhood yesterday at a community center in Gravesend, she told 0:08:33.280 --> 0:08:35.240 the crowd she does not think she should have been 0:08:35.280 --> 0:08:36.600 arrested in the first place. 0:08:37.720 --> 0:08:44.680 Miss treatment IOPD while with support, it must be stop. 0:08:46.280 --> 0:08:50.920 Any four must. 0:08:52.080 --> 0:08:55.040 The witness, says Hung was trying to prevent an eighty 0:08:55.080 --> 0:08:58.080 one year old woman from getting hurt. However, City council 0:08:58.120 --> 0:09:00.840 Member Adrian Adams called at all disturbing. 0:09:01.800 --> 0:09:06.520 Violence is completely unacceptable and respect for our city workers 0:09:06.559 --> 0:09:09.120 doing their jobs is It's just not negotiable. 0:09:09.760 --> 0:09:13.559 Audio courtesy of ABC seven. New York Mayor Eric Adams 0:09:13.600 --> 0:09:16.480 called the injury to the officer a pretty nasty bite. 0:09:17.040 --> 0:09:19.880 A pre trial hearing scheduled in New York today for 0:09:20.000 --> 0:09:23.960 the retrial of disgraced movie mogul Harvey Weinstein. In April, 0:09:24.000 --> 0:09:27.680 Weinstein's rape conviction was thrown out by the New York's 0:09:27.679 --> 0:09:31.240 Court of Appeals after it was determined the trial judge 0:09:31.360 --> 0:09:35.520 unfairly allowed testimony against him based on allegations from other 0:09:35.559 --> 0:09:39.120 women that were not part of the case. Weinstein remained 0:09:39.160 --> 0:09:44.160 in custody at Rikers Island Jail Complex. A comedy legend 0:09:44.280 --> 0:09:52.720 has died. Bob Newhart, who had several stand up albums 0:09:52.720 --> 0:09:56.079 and sitcoms, including The Bob Newhart Show, has passed away. 0:09:56.520 --> 0:09:59.880 Bob Newhart was ninety four years old, and Lou Dobbs, 0:10:00.000 --> 0:10:03.559 the conservative political pundit and veteran cable TV host who 0:10:03.600 --> 0:10:06.319 was a founding anchor for CNN and later was a 0:10:06.440 --> 0:10:09.720 nightly presence on Fox Business Network for more than a decade. 0:10:09.720 --> 0:10:12.160 Has died. No word on the conse of death given. 0:10:12.400 --> 0:10:15.640 Lou Dobbs was seventy eight Global news twenty four hours 0:10:15.679 --> 0:10:18.360 a day and whenever you want it with Bloomberg News Now. 0:10:18.480 --> 0:10:20.640 I'm Michael Barrn. This is Bloomberg. Karen. 0:10:20.880 --> 0:10:27.880 All right, Michael barr thank you, and it's time now 0:10:27.960 --> 0:10:31.720 for the Bloomberg Sports Update with John Stashauer. John, Good morning, Good. 0:10:31.559 --> 0:10:34.760 Morning, Karen. Daniel Brown and England Shane Lowry of Ireland 0:10:34.800 --> 0:10:37.239 had the two best rounds to begin the Open Championship 0:10:37.320 --> 0:10:39.559 in Royal True, both at early tea times today. In 0:10:39.559 --> 0:10:42.880 the second round, Brown relative unknown shot sixty five. Lowry, 0:10:42.880 --> 0:10:44.880 who won the Open five years ago, was sixty six. 0:10:45.000 --> 0:10:47.959 Neither had a single bogie. Justin Thomas overcame a double 0:10:48.000 --> 0:10:50.320 bogie on the twelve pot shot sixty eight and eighty 0:10:50.360 --> 0:10:53.360 two in round one. Last year PGA winners Andrew Shopley 0:10:53.360 --> 0:10:56.280 as two under masters, Champ Scottie chef re Minus won 0:10:56.320 --> 0:10:59.000 the recent US Open winner Rice of the Shambo five over, 0:10:59.160 --> 0:11:03.600 Parry McElroy seven over, and Tiger Woods plus eight, fourteen 0:11:03.679 --> 0:11:06.680 shots behind. As he starts playing today, Yankees and everyone 0:11:06.679 --> 0:11:09.200 else back playing tonight, Yanks at the stadium against Tampa Bay. 0:11:09.200 --> 0:11:11.520 Garrett Cole on the mound. Yanks him up their first 0:11:11.520 --> 0:11:14.400 winning series in a month. Aaron Judge hoping that several 0:11:14.440 --> 0:11:16.040 week long slump is over. 0:11:16.360 --> 0:11:18.280 But each team goes through it where you have a 0:11:18.320 --> 0:11:22.760 couple in down weeks, some high moments, But I think 0:11:22.800 --> 0:11:25.120 the most important thing is just start just staying consistent. 0:11:26.480 --> 0:11:29.640 We've lost a couple games with some crazy plays, and 0:11:29.800 --> 0:11:32.439 you know that comes down to us being consistent. Man's 0:11:32.480 --> 0:11:33.360 that's the number one thing. 0:11:33.559 --> 0:11:35.559 Judge with thirty four home runs at the All Star 0:11:35.600 --> 0:11:37.320 for eighth that's one more than he had at this 0:11:37.360 --> 0:11:37.840 time two. 0:11:37.720 --> 0:11:39.320 Years ago when he finished with sixty two. 0:11:39.440 --> 0:11:41.680 Mets the Red Sox both playing well lately the season 0:11:41.720 --> 0:11:43.920 edited now they make the playoffs. Mets have won seven 0:11:44.040 --> 0:11:46.760 last nine play Tonight in Miami, Socks have taken a 0:11:46.840 --> 0:11:49.120 nine of twelve. They're in LA against Sho Hey Otani 0:11:49.160 --> 0:11:51.600 and the Dodgers, speaking of whom they just learned they'll 0:11:51.640 --> 0:11:54.840 start the twenty twenty five season in Japan. So Otani 0:11:54.880 --> 0:11:57.880 will come home. They'll face the Cubs. Russell Westbrook apparently 0:11:57.920 --> 0:12:00.360 had to do yet another team. Eleven years with Oklahoma 0:12:00.440 --> 0:12:02.920 City wants the MVP. Westbrook has played for four teams 0:12:02.920 --> 0:12:05.520 the last five years. Now done with the Clippers, they 0:12:05.559 --> 0:12:07.880 traded him to Utah and the Jazz Wire reportedly buy 0:12:07.880 --> 0:12:11.640 out his contract in westbrookfold sign with Denver. Jason Wright, 0:12:11.679 --> 0:12:14.760 who became president of the Washington football team in twenty twenty, 0:12:14.960 --> 0:12:17.880 first Black to hold such a position. Now out with 0:12:17.960 --> 0:12:20.280 the Commanders, he had been hired by the former owner, 0:12:20.600 --> 0:12:24.079 Dan Snyder Johns Dasheward. Bloomberg Sports Karynthan. 0:12:25.880 --> 0:12:30.000 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:30.080 --> 0:12:33.000 and around the world on Bloomberg dot Com and the 0:12:33.040 --> 0:12:36.360 Bloomberg Business app. This is Bloomberg. 0:12:35.920 --> 0:12:38.640 Daybreak, Good morning of Nathan Hager, as we continue to 0:12:38.679 --> 0:12:42.640 monitor the rapidly cascading series of software glitches sweeping the globe, 0:12:42.679 --> 0:12:45.920 hitting everything from airlines to banks and markets. For the 0:12:46.000 --> 0:12:49.640 latest were joined by Bloomberg's Critty Gupta in London. Critty, 0:12:49.679 --> 0:12:51.680 good morning. I know this has been going on for hours, 0:12:51.679 --> 0:12:54.240 but for those who are first waking up to this news, 0:12:54.640 --> 0:12:55.560 when did this start? 0:12:55.600 --> 0:12:55.720 What? 0:12:55.960 --> 0:12:56.960 Has been happening. 0:12:57.760 --> 0:12:58.480 Good morning, Nathan. 0:12:58.520 --> 0:13:02.000 This happened really over in Asia. This all started with 0:13:02.120 --> 0:13:05.080 the reports, especially on down Detector, coming out of Japan 0:13:05.160 --> 0:13:10.080 and Australia talking about issues with one the CrowdStrike platform 0:13:10.120 --> 0:13:13.280 and two the Microsoft offerings in that region. Now we 0:13:13.400 --> 0:13:15.719 still don't know at the moment whether or not these 0:13:15.720 --> 0:13:18.360 are two issues that are related or simply happening at 0:13:18.400 --> 0:13:19.960 the same time, but it has. 0:13:19.840 --> 0:13:22.079 Since spread globally predominantly. 0:13:22.120 --> 0:13:24.199 We're trying to see it show up in the airlines, 0:13:24.200 --> 0:13:27.000 with a lot of these kind of airlines in the 0:13:27.080 --> 0:13:31.040 state for initially issuing groundhoults, the likes of Delta, American 0:13:31.080 --> 0:13:34.720 Airlines as well as United It looks like American Airlines 0:13:34.760 --> 0:13:37.920 has now released that groundstop. You have airports around the 0:13:37.960 --> 0:13:41.480 world that are talking about several IT outages as well. 0:13:41.600 --> 0:13:43.679 But it doesn't just go into the airline space. 0:13:43.720 --> 0:13:45.440 You're now seeing it show up in the likes of banks, 0:13:45.440 --> 0:13:48.559 for example, even the folks over at JP Morgan saying 0:13:48.600 --> 0:13:51.120 there are employees that are unable to log on. Several 0:13:51.160 --> 0:13:54.560 broadcasters right here in the UK as well, unable to 0:13:54.640 --> 0:13:57.000 broadcast their network operations. 0:13:57.480 --> 0:14:00.600 So while we wait to get an idea of what's 0:14:00.720 --> 0:14:03.959 behind this, how this started. I mean, it speaks, if 0:14:04.000 --> 0:14:08.640 nothing else to the vulnerabilities that we could continue to 0:14:08.679 --> 0:14:13.640 face just from having so much operations of businesses, not 0:14:13.840 --> 0:14:17.880 just in the tech sector but broadly relying on the cloud. 0:14:18.520 --> 0:14:20.400 It does, and it almost has a little bit of 0:14:20.400 --> 0:14:22.320 deja vous I amagined for a lot of the airline 0:14:22.320 --> 0:14:24.400 watchers as well of what we saw a couple of 0:14:24.440 --> 0:14:27.440 years ago back with the Southwest kind of infrastructure and 0:14:27.480 --> 0:14:30.760 technical issues there as well. Right now, I should very 0:14:30.840 --> 0:14:32.760 quickly mention that some of the airports in the States 0:14:32.760 --> 0:14:35.840 that initially so they were having issues have since pulled 0:14:35.840 --> 0:14:38.080 back on it. A heat throw right here in London 0:14:38.120 --> 0:14:40.160 as well, saying they're having issues but they're dealing with 0:14:40.280 --> 0:14:43.080 and their contingency plan and flights are operational. But to 0:14:43.120 --> 0:14:46.440 your point, Nathan, about this broader infrastructure spend and transition 0:14:46.520 --> 0:14:48.960 to the cloud, it brings a lot of concern. We 0:14:49.040 --> 0:14:52.480 talk about it really accelerating into the world of AI 0:14:52.600 --> 0:14:54.280 in this kind of AI age, but we have to 0:14:54.320 --> 0:14:57.160 remember that not everyone is even on the cloud yet, 0:14:57.640 --> 0:14:59.000 where not everyone has even. 0:14:58.840 --> 0:15:00.320 The cybersecurity and for ructure. 0:15:00.360 --> 0:15:02.160 For those who are looking at the fallout of the 0:15:02.200 --> 0:15:05.720 issues with the crowd strike update as well, So there 0:15:05.720 --> 0:15:08.920 are concerns here, but it might more accelerate that spend 0:15:09.000 --> 0:15:11.240 rather than have people scare away from. 0:15:11.120 --> 0:15:15.280 It and just to pass along a headline breaking right now. 0:15:15.480 --> 0:15:18.360 Microsoft is saying it is aware of the issue affecting 0:15:18.360 --> 0:15:21.800 Windows devices and says it it's due to an update 0:15:21.840 --> 0:15:25.720 from a third party software platform. Anticipating that a resolution 0:15:26.440 --> 0:15:29.120 is forthcoming. That might get us a little bit closer 0:15:29.200 --> 0:15:32.440 pretty to getting something of an idea of what could 0:15:32.480 --> 0:15:36.120 be behind this. But it's having a market impact as well. 0:15:36.160 --> 0:15:40.120 I mean, we did see the tech sell off this week. 0:15:40.360 --> 0:15:41.360 Is it adding to that. 0:15:42.120 --> 0:15:43.200 Is definitely magnifying it. 0:15:43.200 --> 0:15:45.840 And I should mention when we started covering this story, 0:15:45.880 --> 0:15:48.560 we've still seen European features. The markets hadn't opened yet, 0:15:48.680 --> 0:15:51.480 we had seen them pointing decidedly lower, but on these 0:15:51.520 --> 0:15:54.840 headlines as they rolled out, we first saw a delay 0:15:54.960 --> 0:15:57.480 in the openings of the stock markets here in Europe 0:15:57.480 --> 0:16:00.000 as well. Traditionally it takes no more than sixty seconds 0:16:00.120 --> 0:16:01.720 for the footsage to get prices on the foots one 0:16:01.800 --> 0:16:04.000 hundred to a couple of minutes to do that. 0:16:04.440 --> 0:16:07.080 But you know, in this industry time time is of 0:16:07.120 --> 0:16:07.720 the essence. 0:16:07.840 --> 0:16:10.760 But it also started to see some issues when it 0:16:10.840 --> 0:16:14.040 came about in terms of bids for Haven assets for example. 0:16:14.080 --> 0:16:16.560 So you immediately saw risk sentiment turn around, some of 0:16:16.560 --> 0:16:20.800 the airline stocks of course taking the biggest hit, the banks, HSBC, Barkleys, 0:16:20.840 --> 0:16:23.680 even the London Stock Exchange that is publicly listed all 0:16:23.800 --> 0:16:25.960 took some pretty big hits in trading, at least in 0:16:26.040 --> 0:16:28.800 the early opening trades as well. And then of course 0:16:28.880 --> 0:16:31.440 you did have the bids into your classic or save 0:16:31.520 --> 0:16:34.920 Haven to Japanese Yen, the Swiss Frank treasuries even catching 0:16:34.960 --> 0:16:37.160 a bid as well, and of course US futures turning lower. 0:16:37.200 --> 0:16:38.760 It looks like some of those gains or some of 0:16:38.800 --> 0:16:41.080 those moves have been paired, but that was the knee 0:16:41.120 --> 0:16:42.080 jerk reaction. 0:16:42.000 --> 0:16:42.320 All right. 0:16:42.360 --> 0:16:44.480 Well, of course we're going to be monitoring this throughout 0:16:44.520 --> 0:16:46.520 the morning. Thank you for this, Bloomberg's pretty goop to 0:16:46.520 --> 0:16:49.080 do with us from London. Want to turn now to 0:16:49.200 --> 0:16:52.440 the final night of the Republican National Convention. Donald Trump's 0:16:52.480 --> 0:16:55.520 returned to the stage, a return to near total control 0:16:55.600 --> 0:16:58.480 of the GOP after the attempt on his life last weekend. 0:16:58.560 --> 0:17:00.720 Joining us for more on that as Bloomberg New senior 0:17:00.800 --> 0:17:04.879 editor Bill Ferries, Bill, good Morning. We had heard from 0:17:04.960 --> 0:17:07.399 the former president that he had changed his speech to 0:17:07.480 --> 0:17:10.600 make it more of a message of unity. Is that 0:17:10.640 --> 0:17:13.439 what we heard last night in this ninety three minute 0:17:13.520 --> 0:17:15.919 address to the crowd in Milwaukee. 0:17:16.680 --> 0:17:17.359 Four and a half. 0:17:17.760 --> 0:17:22.680 So there were moments where the president former president talked 0:17:22.720 --> 0:17:25.720 about unity and saying he said, you know, at one point, 0:17:25.720 --> 0:17:28.920 the discord and division in our society must be healed. 0:17:29.320 --> 0:17:32.040 And he started off his speech giving a very kind 0:17:32.080 --> 0:17:36.680 of detailed, moment by moment description of the shooting over 0:17:36.720 --> 0:17:39.760 the weekend and what he was thinking, what he went through. 0:17:40.680 --> 0:17:47.120 But you know, it definitely veered off script for many moments, 0:17:47.200 --> 0:17:51.960 and there were a lot of harsh attacks on Democrats, 0:17:52.359 --> 0:17:56.640 the media, migrants to the US, There was a lot 0:17:56.640 --> 0:17:59.280 of It was kind of this mix of on script 0:17:59.320 --> 0:18:03.439 and offscript that anyone who has watched some of Donald 0:18:03.440 --> 0:18:07.679 Trump's rallies has become accustomed to scene. So not a 0:18:07.720 --> 0:18:11.480 lot of not a lot of a focus on that unity. 0:18:12.000 --> 0:18:15.800 And and you know, there wasn't a hugely changed tone 0:18:16.359 --> 0:18:18.399 that you know, we'd been led to believe was coming 0:18:19.119 --> 0:18:20.480 in the days after the shooting. 0:18:20.840 --> 0:18:26.040 And I would imagine not a hugely changed policy idea 0:18:26.359 --> 0:18:30.080 coming from the former president as well, talking about, you know, 0:18:30.240 --> 0:18:33.840 building the wall, getting away from clean energy, cracking down 0:18:33.960 --> 0:18:38.960 on immigration. What did we hear in terms of policy 0:18:39.200 --> 0:18:42.040 in a potential second Trump administration. 0:18:42.440 --> 0:18:46.639 Well, there was this I think pitch to almost like 0:18:46.680 --> 0:18:51.600 a nostalgic pitch to where America was, where the economy 0:18:51.640 --> 0:18:56.560 in particular was before the pandemic hit during Trump's presidency. 0:18:56.600 --> 0:19:00.440 You know, he talked about inflation had been low, economic 0:19:00.440 --> 0:19:04.000 growth had been strong, unemployment had been low. Economists would 0:19:04.000 --> 0:19:06.520 tell you that's kind of the situation America is in 0:19:06.680 --> 0:19:09.679 now as well. But yeah, you're right, he talked about 0:19:09.840 --> 0:19:12.600 he talked about the wall, rebuilding the wall. There were 0:19:12.720 --> 0:19:17.199 not specifics about a lot of specifics about what a 0:19:17.280 --> 0:19:20.760 second Trump term would bring beyond he said he would 0:19:20.880 --> 0:19:23.600 you know, he would continue building the wall. He would 0:19:23.880 --> 0:19:28.000 he would cut taxes, he would get rid of credits 0:19:28.119 --> 0:19:32.359 for electric vehicles. But if you were looking for, hey, 0:19:32.400 --> 0:19:34.919 what's the what would the first hundred days of a 0:19:35.000 --> 0:19:37.959 new Trump presidency look like? You weren't going to get 0:19:38.000 --> 0:19:39.320 a lot of those kind of details. 0:19:39.680 --> 0:19:42.800 So does that provide an opening of some sort for Democrats, 0:19:42.840 --> 0:19:48.320 who are you know, really seeing the current president's campaign flounder. 0:19:48.960 --> 0:19:51.919 It's like it's hanging on by a thread for President Biden. 0:19:52.680 --> 0:19:55.720 That was actually some of the feedback you heard from 0:19:55.800 --> 0:19:59.200 Democrats in the hours after that speech ended. They said, 0:19:59.240 --> 0:20:01.200 you know, there were a lot of people online saying, 0:20:01.240 --> 0:20:04.119 you know, this is a candidate we can beat. But 0:20:04.240 --> 0:20:08.960 of course, what was almost overshadowing the entire RNC on 0:20:09.040 --> 0:20:12.919 this last day was the status of the Biden campaign 0:20:12.960 --> 0:20:17.119 and whether he will be the candidate that Donald Trump 0:20:17.200 --> 0:20:18.480 is facing in November. 0:20:18.520 --> 0:20:20.119 There's a lot of doubt about that. 0:20:20.320 --> 0:20:24.040 And I think that may have even played into Trump's 0:20:24.040 --> 0:20:28.760 decision with one exception not to mention Joe Biden by name. 0:20:30.200 --> 0:20:32.920 So in our last minute bill, what have we confirmed 0:20:33.000 --> 0:20:36.399 about the pressure that is on the president to potentially 0:20:36.400 --> 0:20:37.800 step aside? 0:20:38.080 --> 0:20:40.159 Well, what we know. You know, every few hours, it 0:20:40.200 --> 0:20:43.480 seems like you have another senior Democrat. We had two 0:20:43.480 --> 0:20:47.360 more senators coming in, John Hickenlooper and John Tester coming in. 0:20:48.240 --> 0:20:51.800 We have a report from the Associated Press that the 0:20:51.840 --> 0:20:57.400 Biden campaign is scheduling an all hands staff meeting for Friday. 0:20:58.160 --> 0:21:01.240 So that has only fueled more space that there may 0:21:01.280 --> 0:21:05.359 be a change coming. You'll listen. The President is at 0:21:05.359 --> 0:21:12.400 home isolating with his COVID nineteen situation that has kind 0:21:12.440 --> 0:21:15.800 of prevented him from doing the counter programming that normally 0:21:15.840 --> 0:21:19.000 he would be out there trying to do, and is 0:21:19.200 --> 0:21:22.880 just more and more senior Democrats coming forward, including now 0:21:22.920 --> 0:21:27.520 Barack Obama apparently getting involved in some of the discussions 0:21:27.080 --> 0:21:31.800 and raising concerns about whether Joe Biden will be the 0:21:31.840 --> 0:21:35.040 strongest candidate the Democrats can put forward in November. 0:21:35.200 --> 0:21:38.119 This is Bloomberg day Break Today, your morning brief on 0:21:38.200 --> 0:21:41.760 the stories making news from Wall Street to Washington and beyond. 0:21:42.000 --> 0:21:44.760 Look for us on your podcast feed at six am 0:21:44.840 --> 0:21:48.520 Eastern each morning, on Apple, Spotify, and anywhere else you 0:21:48.600 --> 0:21:49.760 get your podcasts. 0:21:49.880 --> 0:21:52.560 You can also listen live each morning starting at five 0:21:52.600 --> 0:21:55.200 am Wall Street Time on Bloomberg eleven three to zero 0:21:55.280 --> 0:21:58.080 in New York, Bloomberg ninety nine to one in Washington, 0:21:58.200 --> 0:22:01.360 Bloomberg one six to one in bomb and Bloomberg nine 0:22:01.440 --> 0:22:02.840 sixty in San Francisco. 0:22:03.240 --> 0:22:06.360 Our flagship New York station is also available on your 0:22:06.440 --> 0:22:11.440 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. 0:22:11.560 --> 0:22:15.320 Plus listen coast to coast, on the Bloomberg Business app, SERRIUSXM, 0:22:15.440 --> 0:22:19.760 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:22:19.480 --> 0:22:20.640 And I'm Karen Moscow. 0:22:20.840 --> 0:22:23.600 Join us again tomorrow morning for all the news you 0:22:23.720 --> 0:22:26.920 need to start your day right here on Bloomberg Daybreak