Dockworkers Strike Shuts East & Gulf Ports; VP Debate Tonight

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.720 --> 0:00:12.880 Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 0:00:12.920 --> 0:00:14.640 are the stories we're following today. 0:00:14.760 --> 0:00:17.480 Karen, we begin with the latest on upbreaking story, Doc. 0:00:17.520 --> 0:00:20.400 Workers have walked out of every major port on the 0:00:20.520 --> 0:00:23.880 US East End Gulf Coast. Let's bring in Bloomberg's John 0:00:23.920 --> 0:00:25.079 Tucker with the details. 0:00:25.160 --> 0:00:28.280 John and Nathan, this was the scene at Maher Terminals 0:00:28.320 --> 0:00:29.560 in Elizabeth, New Jersey. 0:00:30.280 --> 0:00:33.200 Nothing's gonna move without us. 0:00:32.479 --> 0:00:38.560 Nothing, that's Union leader Harold Daggett. Some forty five thousand 0:00:38.680 --> 0:00:42.680 members of the International Longshoreman's Association hit the picket lines 0:00:42.720 --> 0:00:46.120 at midnight. This is a strike over wages and automation 0:00:46.240 --> 0:00:50.040 that could reignite inflation and caused shortages of goods if 0:00:50.040 --> 0:00:52.320 it goes on more than a few weeks. The strike 0:00:52.440 --> 0:00:55.760 is impacting thirty six ports. The affected ports have the 0:00:55.840 --> 0:00:59.200 combined capacity to handle as much as half of all 0:00:59.320 --> 0:01:02.760 US trade volumes, and the strike will haul container cargo 0:01:02.880 --> 0:01:06.960 and auto shipments. Energy supplies in bull cargo won't be affected. 0:01:07.319 --> 0:01:09.600 Some exceptions will be made to allow for the movement 0:01:09.600 --> 0:01:13.200 of military goods and cruise ships. The White House had 0:01:13.240 --> 0:01:15.640 been in communication with the two sides over the weekend, 0:01:16.040 --> 0:01:19.600 and some progress had been reported on wages. The Taft 0:01:19.640 --> 0:01:22.960 Heartley Act of nineteen forty seven does allow President Biden 0:01:22.959 --> 0:01:26.760 to intervene in labor disputes that evolved national security. In 0:01:26.800 --> 0:01:29.360 New yorkome John Tucker Bloomberg Radio, all. 0:01:29.280 --> 0:01:30.840 Right, John, thank you well Tonight. 0:01:31.000 --> 0:01:34.919 Vice presidential nominees JD Vance and Tim Wallas will face 0:01:34.959 --> 0:01:37.360 off in what could be the final debate before the 0:01:37.400 --> 0:01:41.240 November election. Bloomberg's Amy Morris has details from Washington. 0:01:41.600 --> 0:01:44.080 The ninety minute debate will be in New York. Walls 0:01:44.160 --> 0:01:46.720 was asked about debate press, how are you feeling. 0:01:46.520 --> 0:01:47.520 About to be priming? 0:01:47.840 --> 0:01:49.480 Going great? This is the fun part. 0:01:49.600 --> 0:01:52.960 Last month, Van said he was already deep into debate Press. 0:01:53.000 --> 0:01:53.720 Well, I found a. 0:01:53.680 --> 0:01:56.320 Good friend from back home who embellishes and lies a lot, 0:01:56.360 --> 0:01:58.160 and having him stand in for Tim Wallas. 0:01:58.200 --> 0:02:01.040 That's what we're doing during our debates. Bloomberg News Morning 0:02:01.040 --> 0:02:04.400 Consule poll of registered voters in seven swing states shows 0:02:04.400 --> 0:02:07.760 Walls with a higher net favorability rating the Advance. There 0:02:07.800 --> 0:02:10.640 will be no opening statements and no studio audience mikes 0:02:10.680 --> 0:02:13.560 will be live throughout the event. Moderators commute the mics 0:02:13.600 --> 0:02:17.000 at their discretion. Pre Written notes are not allowed on stage, 0:02:17.000 --> 0:02:20.480 but they'll have pens, paper, and water. Each candidate has 0:02:20.520 --> 0:02:23.600 two minutes for closing statements In Washington, Amy Moore as 0:02:23.600 --> 0:02:24.400 Bloomberg Radio. 0:02:24.639 --> 0:02:27.160 All right, Amy, thank you. We'll catch the CBS News 0:02:27.200 --> 0:02:31.240 Vice presidential simulcast on a special edition of Bloomberg's Balance 0:02:31.240 --> 0:02:34.000 of Power. It begins tonight at eight pm Wall Street 0:02:34.000 --> 0:02:36.160 Time on Bloomberg Radio and Television. 0:02:36.400 --> 0:02:38.520 Karen, let's turn out to the latest from the Middle East. 0:02:38.560 --> 0:02:42.640 Israeli soldiers are now inside Lebanon. The Israeli military began 0:02:42.720 --> 0:02:46.240 what it's calling targeted ground raids against Hesbola just before 0:02:46.240 --> 0:02:49.760 midnight local time. We get more from Bloomberg's Michael Heath. 0:02:49.639 --> 0:02:51.880 At this time, this saying that these are sites that 0:02:51.960 --> 0:02:55.920 pose in an immediate threat to Israeli communities in northern Israel. 0:02:56.240 --> 0:02:57.960 I mean the big question, of course, is whether this 0:02:58.040 --> 0:03:01.920 then develops into a full scale ground operation. At this stage, 0:03:02.000 --> 0:03:05.040 Axis is reporting that ciding to his running officials that 0:03:05.400 --> 0:03:07.560 this was approved by the Security Cabinet and it will 0:03:07.560 --> 0:03:10.239 be limited in both time and scope. But we also 0:03:10.360 --> 0:03:12.600 know at the same time the US has been worried, well, 0:03:12.639 --> 0:03:14.760 while it's okay with Israel doing this to try and 0:03:15.120 --> 0:03:17.880 push a Hezbla back from the border, it worries about 0:03:17.919 --> 0:03:20.240 mission creep, which is always the case once you send 0:03:20.240 --> 0:03:21.240 boots in on the ground. 0:03:21.360 --> 0:03:24.200 Bloomberg's Michael Heath reports the US agrees with Israel that 0:03:24.240 --> 0:03:27.520 Hesbola's attack infrastructure needs to be dismantled, at the same 0:03:27.600 --> 0:03:30.600 time it is repeating calls for restraint well. 0:03:30.639 --> 0:03:33.240 Turning to the markets, now Nathan Stalks begin the fourth 0:03:33.280 --> 0:03:35.560 quarter on a winning streak. The S and P five 0:03:35.640 --> 0:03:38.480 hundred has gained for four consecutive quarters as a long 0:03:38.520 --> 0:03:41.640 as such winning strettions twenty twenty one, the tech heavy 0:03:41.680 --> 0:03:43.040 now Stack one hundred. 0:03:42.840 --> 0:03:45.200 Notched a similar run. Mike Wilson as. 0:03:45.160 --> 0:03:47.760 Chief US S equity strategist at Morgan Stanley. 0:03:48.000 --> 0:03:49.360 You know, I would stay three weeks ago. 0:03:49.680 --> 0:03:52.440 Myself and most of the clients I speak with were 0:03:52.480 --> 0:03:54.440 in the camp that we would have a tough four 0:03:54.520 --> 0:03:57.240 or five weeks into the election and then you'd get 0:03:57.280 --> 0:04:00.680 a strong rally into year end. Trying to think maybe 0:04:00.680 --> 0:04:02.200 it might be more the opposite. 0:04:02.240 --> 0:04:04.119 We may stay bid into. 0:04:03.840 --> 0:04:06.480 The election and then I think we get some disappointment 0:04:06.720 --> 0:04:07.480 post election. 0:04:08.520 --> 0:04:11.760 Morgan Stanley, chief US secuity strategist Mike Wilson. The S 0:04:11.840 --> 0:04:14.040 and P five hundred added two and a half trillion 0:04:14.080 --> 0:04:15.400 dollars in the third quarter. 0:04:15.520 --> 0:04:18.239 Well, how much will the FED cut in the fourth quarter? 0:04:18.360 --> 0:04:18.560 Well? 0:04:18.680 --> 0:04:21.479 FED chair Jay Powell says the central Bank will lower 0:04:21.520 --> 0:04:25.200 interest rates over time. He told the National Association for 0:04:25.279 --> 0:04:29.080 Business Economics, the US economy is on solid ground. If 0:04:29.080 --> 0:04:32.000 the economy slows more than we expect, then we can 0:04:32.040 --> 0:04:32.599 cut faster. 0:04:32.839 --> 0:04:35.800 If it slows less than we expect, we can cut slower. 0:04:35.800 --> 0:04:37.320 And that's really what's going to decide it. 0:04:37.640 --> 0:04:40.640 But I think from a base case standpoint, we're looking 0:04:40.640 --> 0:04:43.039 at it as a process that will play out over 0:04:43.160 --> 0:04:46.880 some time, not something that we need to go fast on. 0:04:47.360 --> 0:04:47.880 FED Shair J. 0:04:48.040 --> 0:04:51.320 Powell said he remains confident inflation will continue moving toward 0:04:51.320 --> 0:04:54.560 the fed's two percent target. He added that economic conditions 0:04:54.600 --> 0:04:57.640 have set the table for a further easing of price pressures. 0:04:58.080 --> 0:05:00.240 Well. Nathan Larry Fink is speaking out of about the 0:05:00.279 --> 0:05:03.080 strength of the economy. The Black Rock chairman sat down 0:05:03.080 --> 0:05:06.120 with the Bloomberg's friends Saint Laqua at the Berlin Global 0:05:06.200 --> 0:05:09.200 Dialogue twenty twenty four conference earlier this morning. 0:05:09.440 --> 0:05:11.640 We spend so much time focusing on the segments that 0:05:11.680 --> 0:05:13.520 are doing poorly. And I'm not trying to suggest that's 0:05:13.640 --> 0:05:16.680 not the right thing to do, but we're not looking 0:05:16.680 --> 0:05:18.800 at in the holistic way that other parts of the 0:05:18.839 --> 0:05:22.000 economy are doing really, really well. Look at corporate earnings 0:05:22.040 --> 0:05:25.000 over all, they've been very strong, and I think they're 0:05:25.000 --> 0:05:27.560 going to continue to be very strong. We have, you know, 0:05:27.600 --> 0:05:31.600 we do have segments of the economy that are very strong, 0:05:31.680 --> 0:05:33.400 and I think that's why, I don't know why we 0:05:33.440 --> 0:05:35.840 talk about a harder soft line and we're continuing. We're 0:05:35.839 --> 0:05:37.280 going to grow at two to three percent. 0:05:37.880 --> 0:05:40.599 Black Rock chairman Larry Finks as the market is pricing 0:05:40.640 --> 0:05:43.000 too many interest rate cuts from the FED given the 0:05:43.120 --> 0:05:44.799 US economy continues to grow. 0:05:44.880 --> 0:05:47.080 In the meantime, Karen, let's turn to some company news now. 0:05:47.160 --> 0:05:50.120 CVS Health is conducting a strategic or view of options, 0:05:50.160 --> 0:05:54.279 including a possible breakup. Sources say the options under consideration 0:05:54.400 --> 0:05:57.160 include the various forms that a potential breakup could take, 0:05:57.240 --> 0:06:01.160 including a separation of the company's retail and then insurance businesses. 0:06:01.560 --> 0:06:04.960 CVS has been grappling with falling profit margins at its 0:06:05.000 --> 0:06:08.480 retail pharmacies and rising costs of patient care from EDNA, 0:06:08.560 --> 0:06:10.880 which generates about a third of its revenue. 0:06:11.000 --> 0:06:13.920 Well Nathan Pfeiser has raised about three point two billion 0:06:13.960 --> 0:06:16.599 dollars from the sale of helly On shares as it 0:06:16.720 --> 0:06:19.919 further reduces its stake in the UK consumer health company. 0:06:20.200 --> 0:06:23.120 Holly On was formed from a combination of GSK and 0:06:23.160 --> 0:06:26.960 Pfizer's consumer health units. The company makes a wide range 0:06:26.960 --> 0:06:31.080 of products, including Pena Doll, pain relief tablets and Centrum vitamins. 0:06:31.360 --> 0:06:34.279 Here's another company you've heard of, Karen Dell. Michael Dell 0:06:34.440 --> 0:06:38.240 has unloaded more of his namesake company stock. He sold 0:06:38.320 --> 0:06:41.839 ten million shares worth almost one and a quarter billion dollars. 0:06:42.120 --> 0:06:46.600 It is his second significant sale in the month of September. Earlier, 0:06:46.640 --> 0:06:49.479 Michael Dell sold ten million shares worth nearly one point 0:06:49.560 --> 0:06:53.000 two billion dollars. Companies benefited from the wave of investor 0:06:53.040 --> 0:06:56.560 interest in artificial intelligence companies. The stock has jumped fifty 0:06:56.600 --> 0:06:59.599 five percent this year. Dell Technologies joined the S and 0:06:59.600 --> 0:07:02.320 P five one hundred last week after a decade off 0:07:02.400 --> 0:07:03.040 the index. 0:07:07.080 --> 0:07:08.320 And it's time now for a look at some of 0:07:08.360 --> 0:07:11.000 the other stories making news in New York and around 0:07:11.080 --> 0:07:13.920 the world, and for that we're joined by Bloomberg's Michael 0:07:14.040 --> 0:07:15.800 barg Good Tuesday morning, Michael. 0:07:15.680 --> 0:07:18.920 Good morning to you, Karen. North Carolina Governor Roy Cooper 0:07:19.040 --> 0:07:23.640 says that recovery from the catastrophic damage left behind by 0:07:23.720 --> 0:07:28.320 Helene last week will be a monumental task, as several 0:07:28.360 --> 0:07:33.000 towns and cities report severe, lasting damage to their infrastructure. 0:07:33.400 --> 0:07:35.400 At least one hundred and thirty people are dead and 0:07:35.480 --> 0:07:40.239 more than six hundred people are unaccounted for in Buncombe County, 0:07:40.640 --> 0:07:45.560 where communications have been down and roads are impassable. Main 0:07:45.760 --> 0:07:50.120 roads into Ashville were washed away or blocked by mudslides. 0:07:50.440 --> 0:07:54.040 The city's water system is also badly damaged. This man, 0:07:54.080 --> 0:07:57.160 who owns a car wash says his businesses in ruins. 0:07:57.560 --> 0:08:00.320 Every piece of equipment I have is pretty much upside 0:08:00.320 --> 0:08:01.400 down her sideways. 0:08:02.080 --> 0:08:03.880 I've been told I'm not going to have power for 0:08:04.240 --> 0:08:05.560 at least two weeks or so. 0:08:05.880 --> 0:08:08.880 President Biden was asked about getting FEMA aid to people 0:08:08.920 --> 0:08:09.720 who are stranded. 0:08:10.000 --> 0:08:11.640 The question is not whether we get more. 0:08:12.200 --> 0:08:14.240 There's a list of every resource for getting in there, 0:08:14.280 --> 0:08:16.120 but the question is how to get it in. 0:08:16.800 --> 0:08:18.880 It's hard to get it from point A to point B. 0:08:19.640 --> 0:08:21.720 It's hard to get if some of the worlds you're 0:08:21.720 --> 0:08:22.240 wiped out. 0:08:22.640 --> 0:08:26.120 President Biden plans to survey the devastation in western North 0:08:26.160 --> 0:08:31.040 Carolina tomorrow. Vice President Kamala Harris stopped by FEMA headquarters 0:08:31.040 --> 0:08:35.040 in Washington as FEMA mounts recovery efforts in the aftermath 0:08:35.080 --> 0:08:38.760 of Aleen. Harris thanked FEMA workers and said she plans 0:08:38.760 --> 0:08:40.160 to visit the affected areas. 0:08:40.640 --> 0:08:43.480 To everyone who has been impacted by this storm, and 0:08:43.559 --> 0:08:47.000 to all of those of you who are rightly feeling 0:08:47.120 --> 0:08:52.080 overwhelmed by the destruction and the loss, our nation is 0:08:52.160 --> 0:08:52.440 with you. 0:08:53.160 --> 0:08:57.400 Former President Donald Trump visited at Valdosta, Georgia, yesterday, one 0:08:57.440 --> 0:09:00.680 of the many areas devastated by Helene out the region. 0:09:00.720 --> 0:09:04.720 Our hearts are with you, and we are going to 0:09:04.760 --> 0:09:06.320 be with you as long as you need. 0:09:06.760 --> 0:09:10.199 Trump also claimed falsely and that Georgia's Governor Brian Kemp 0:09:10.440 --> 0:09:13.120 had not been able to reach Joe Biden. Kemp refuted 0:09:13.160 --> 0:09:16.160 Trump's allegation and says he talked with the president. Sunday, 0:09:16.920 --> 0:09:19.800 Georgia judge struck down the state's abortion law, which took 0:09:19.800 --> 0:09:23.840 effect in twenty twenty two. And effectively prohibited abortions beyond 0:09:23.880 --> 0:09:27.720 about six weeks of pregnancy. Fulton County Superior Court Judge 0:09:27.800 --> 0:09:31.319 Robert McBurnie wrote in his order that the law violates 0:09:31.360 --> 0:09:35.640 Georgia's constitution and privacy protections. The news was welcomed by 0:09:35.760 --> 0:09:39.160 Jalen Black, spokeswoman for Planned Parenthood Southeast. 0:09:39.520 --> 0:09:42.840 Effective immediately in accordance with the law, we are providing 0:09:42.920 --> 0:09:44.800 and expanding our abortion healthcare. 0:09:45.120 --> 0:09:48.600 Georgia Attorney General confirms that they are planning to appeal 0:09:48.640 --> 0:09:51.320 the decision. Global News twenty four hours a day and 0:09:51.440 --> 0:09:54.160 whenever you want it with Bloomberg News Now. I'm Michael Barr. 0:09:54.200 --> 0:09:55.160 This is Bloomberg Krent. 0:09:55.320 --> 0:09:56.640 All right, Michael Barr, thank you. 0:10:01.559 --> 0:10:04.200 At his time now for the Bloomberry Sports Update, brought 0:10:04.200 --> 0:10:05.800 to you by Tri State Audi. 0:10:05.840 --> 0:10:08.600 And here's John Stashauer. John, good morning, Good morning, Karen. 0:10:08.679 --> 0:10:10.960 Since news last night of the passing of Pete Rose, 0:10:11.000 --> 0:10:14.200 it's been said by many that he lived a complicated life. 0:10:14.200 --> 0:10:16.960 His playing career was legendary, played in more games than anyone, 0:10:17.040 --> 0:10:20.440 had the most hits four two hundred and fifty six. 0:10:20.520 --> 0:10:22.960 The complication came in the late nineteen eighties, when Rose 0:10:23.040 --> 0:10:25.760 was managing the Cincinnati Reds, the team that he had 0:10:25.760 --> 0:10:28.800 started for. As details of his gambling came out, Rose 0:10:28.840 --> 0:10:31.360 agreed to a lifetime band and the Hall of Fame 0:10:31.800 --> 0:10:35.360 changed its rules to not allow anyone banned to be considered 0:10:35.360 --> 0:10:37.920 for induction. It took Rose fifteen years to finally admit 0:10:38.000 --> 0:10:40.520 that he gambled on baseball. He also served five months 0:10:40.559 --> 0:10:44.040 in prison for tax evasion. Pete Rose Charlie Hustle was 0:10:44.080 --> 0:10:46.640 eighty three. It's been called the greatest regular season game 0:10:46.679 --> 0:10:48.720 in Mets history, and Atlanta needed one win to make 0:10:48.720 --> 0:10:52.160 the playoffs. The Mets shutout for seven innings, scored six runs, 0:10:52.160 --> 0:10:54.360 and the eighth gave up four in the bottom of 0:10:54.360 --> 0:10:56.880 the eighth. The Mets were then two outs from defeat. 0:10:57.679 --> 0:11:00.400 His first pitch to lend Or swear at a fly 0:11:00.559 --> 0:11:03.839 pah Well hit right center, Harris going back. It's on 0:11:04.040 --> 0:11:08.120 the way that is gone. The end of the Brave 0:11:08.320 --> 0:11:15.000 bullpadd and light center field. Francisco Lindor has an emptyp moment. 0:11:15.120 --> 0:11:18.480 Whether he wins water or not, PS just put the 0:11:18.480 --> 0:11:20.880 match back on top eight to seven. 0:11:21.360 --> 0:11:23.520 That was the fun on I was Awi Rose, Metz 0:11:23.600 --> 0:11:25.960 Radio Edwin Diaz gave up the lead in the eighth inning, 0:11:26.000 --> 0:11:28.000 but still got the save of the night. The Braves 0:11:28.040 --> 0:11:30.199 also playoff found as they won the second game of 0:11:30.200 --> 0:11:32.920 the double Hutter three nothing. The postseason begins today. The 0:11:33.000 --> 0:11:35.960 Mets played game one of the best of three in Milwaukee, 0:11:36.360 --> 0:11:37.920 starting at five thirty two Monday. 0:11:37.960 --> 0:11:38.240 Nighters. 0:11:38.240 --> 0:11:40.840 Tennessee won thirty one to twelve at Miami. Both teams 0:11:40.840 --> 0:11:43.920 are one and three. Detroit beat Seattle forty two to 0:11:43.960 --> 0:11:46.720 twenty nine. Both or three and one Lions QB Jared 0:11:46.720 --> 0:11:51.240 gone through eighteen passes completed all eighteen. That's an NFL record. 0:11:51.520 --> 0:11:54.840 Also passing away yesterday NBA Hall of Famer to Kembe Mutumbo, 0:11:54.840 --> 0:11:56.000 who had battled brain cancer. 0:11:56.080 --> 0:11:56.920 He was fifty eight. 0:11:57.280 --> 0:11:59.640 John Stashaway, Bloomberg Sports Karendona. 0:12:00.000 --> 0:12:02.400 All right, John, thank you, and the Bloomberg Sports Update 0:12:02.559 --> 0:12:05.040 is brought to you by Audi. Visit your tri state 0:12:05.080 --> 0:12:07.600 Audi dealer today and get behind the wheel of the 0:12:07.600 --> 0:12:09.480 Audi model you've always wanted. 0:12:12.280 --> 0:12:16.320 Coast to coast on Bloomberg Radio nationwide on Sirius XM, 0:12:16.520 --> 0:12:19.440 and around the world on Bloomberg dot Com and the 0:12:19.480 --> 0:12:20.720 Bloomberg Business app. 0:12:20.920 --> 0:12:22.920 This is Bloomberg Daybreak. 0:12:23.120 --> 0:12:25.640 Good morning, I'm Nathan Hager on the morning before what 0:12:25.760 --> 0:12:28.720 could be the final debate ahead of a presidential election 0:12:28.800 --> 0:12:32.080 that is now just five weeks away. Republican jd Vance 0:12:32.080 --> 0:12:34.960 and Democrat Tim Waltz square off tonight in the CBS 0:12:35.000 --> 0:12:37.960 News vice presidential debate. Ahead of it, we are joined 0:12:37.960 --> 0:12:41.760 by Jennifer Lawless, professor and sheriff politics at the University 0:12:41.880 --> 0:12:45.520 of Virginia. Jennifer, good morning, and just in time for 0:12:45.640 --> 0:12:48.840 this debate, we have a major port strike underway. What 0:12:49.080 --> 0:12:52.959 is the potential of political impact of this port strike 0:12:53.000 --> 0:12:57.720 with the economy front and centers for so many voters, Well. 0:12:57.559 --> 0:12:58.120 Good morning. 0:12:58.640 --> 0:13:02.120 If the strike lasts couple of days, voters probably won't 0:13:02.160 --> 0:13:05.400 feel much. The businesses can pick up the slack, there 0:13:05.440 --> 0:13:08.680 won't be that many layoffs in the transportation industry, and 0:13:08.880 --> 0:13:11.240 things will probably be fine. But if it lasts longer 0:13:11.240 --> 0:13:14.040 than that, people don't need to think back that far 0:13:14.160 --> 0:13:17.199 to the supply chain ishes they remember during the pandemic, 0:13:17.600 --> 0:13:22.400 and that obviously doesn't help the Democrats as people go. 0:13:22.400 --> 0:13:22.960 To the polls. 0:13:23.280 --> 0:13:25.480 Do you expect this to play into the debate with 0:13:25.559 --> 0:13:28.880 an economic focus so much front and center. 0:13:30.600 --> 0:13:34.640 I do, but I also expect both candidates to link 0:13:34.679 --> 0:13:38.360 it to their own economic policies and to provide voters 0:13:38.400 --> 0:13:41.040 with the confidence that they think they need to not 0:13:41.160 --> 0:13:44.920 let this really affect the messaging going into November. What 0:13:45.040 --> 0:13:47.640 makes it difficult, of course, is that we're only within 0:13:47.679 --> 0:13:50.160 the first twenty four hours of the strike, so it's 0:13:50.160 --> 0:13:52.000 hard to know what the future will look like. 0:13:52.440 --> 0:13:56.240 We've heard so much messaging leading up into this debate 0:13:56.360 --> 0:14:00.120 that can fit into really tiny soundbites for both candidates. 0:14:00.120 --> 0:14:02.800 Tim Waltz is called Ja d Vance and former President 0:14:02.840 --> 0:14:07.719 Trump weird. Jd Vance has been talking about Haitian migrants 0:14:07.880 --> 0:14:12.280 eating people's pets. Where do you see this debate going. 0:14:12.640 --> 0:14:15.959 Can it focus on substance or are we going to 0:14:16.040 --> 0:14:18.520 get a fiery personality play tonight. 0:14:20.000 --> 0:14:22.200 I think it'll probably be a little of both. 0:14:22.720 --> 0:14:26.200 Unlike the presidential debates both that Donald Trump had with 0:14:26.320 --> 0:14:29.640 Joe Biden and Kamala Harris, the microphones will not be muted, 0:14:30.040 --> 0:14:33.040 so the candidates will be able to engage with one 0:14:33.040 --> 0:14:35.280 another a little bit more directly than we've seen in 0:14:35.320 --> 0:14:40.080 the past. Moreover, we know that both candidates have been very, 0:14:40.160 --> 0:14:43.720 very outspoken when it comes to their opponents, which means 0:14:43.760 --> 0:14:46.160 that when JD. Vance says something that Tim Walls does 0:14:46.200 --> 0:14:48.280 not like or that he thinks might not resonate with 0:14:48.320 --> 0:14:51.400 the American people, It's likely that Tim Walls will call 0:14:51.480 --> 0:14:54.000 him a name like weird. And when Tim Wall says 0:14:54.000 --> 0:14:57.640 something that JD. Vance thinks is not true or not accurate, 0:14:57.680 --> 0:15:01.120 perhaps regarding his military record, likely that Vance will step 0:15:01.160 --> 0:15:03.520 in and interrupt as well. So my expectation as there 0:15:03.560 --> 0:15:06.920 will be a few more explicit fireworks between the candidates. 0:15:07.280 --> 0:15:10.960 Yeah, the vice presidential candidates tend to act as attack dogs, 0:15:11.000 --> 0:15:13.320 but when you have two candidates like this who are 0:15:13.360 --> 0:15:16.400 so far apart, not just politically but in the polls 0:15:16.560 --> 0:15:18.760 in terms of likability, is there a risk of that 0:15:18.840 --> 0:15:22.680 attack dog role going too far and potentially affecting things 0:15:23.080 --> 0:15:23.600 up ticket. 0:15:25.000 --> 0:15:28.920 Well, it's difficult to see how JD. Vance's popularity could 0:15:29.000 --> 0:15:32.960 go any lower. He's among the most unpopular candidates heading 0:15:32.960 --> 0:15:36.320 into election day that we've ever experienced, and Donald Trump 0:15:36.360 --> 0:15:38.840 really doesn't seem to be taking a hit because of him. 0:15:38.920 --> 0:15:42.080 Voters seem to be able to differentiate Dvance from Trump. 0:15:42.480 --> 0:15:45.280 As far as Tim Walls is concerned, he is very likable, 0:15:45.320 --> 0:15:47.880 so he needs to make sure that he remains affable 0:15:47.960 --> 0:15:50.360 in delivering those attacks, but he's been doing that on 0:15:50.400 --> 0:15:52.920 the campaign trail for several months now and seems to 0:15:53.000 --> 0:15:55.200 understand that role and how to perfect it. 0:15:56.000 --> 0:15:59.200 Just the fact that this could be the last debate 0:15:59.440 --> 0:16:04.920 before the election, does that put more stakes on how 0:16:04.960 --> 0:16:07.960 these candidates need to perform. Tonight got about a minute left. 0:16:08.880 --> 0:16:12.600 Well, the reality is that vice presidential debates typically don't 0:16:12.640 --> 0:16:15.440 decide elections. They usually don't move the needle much at all. 0:16:15.720 --> 0:16:18.280 But this is the last opportunity for the campaigns in 0:16:18.320 --> 0:16:21.720 front of a very large viewing national audience can make 0:16:21.760 --> 0:16:24.800 their case. So my expectation is that Dance is going 0:16:24.840 --> 0:16:28.520 to really hammer home the Trump concern the Trump team's 0:16:28.520 --> 0:16:32.520 concerns about the economy, immigration and crime, and walls. Is 0:16:32.560 --> 0:16:35.320 going to do his best to demonstrate not only that 0:16:35.520 --> 0:16:39.120 Harris Walld administration is different from a Biden Harris administration, 0:16:39.560 --> 0:16:42.360 but also that reproductive rights and civil rights and civil 0:16:42.360 --> 0:16:43.760 liberties are on the ballot. 0:16:43.800 --> 0:16:47.720 On Tuesday, on Election Day, this is Bloombergy Daybreak, your 0:16:47.800 --> 0:16:51.080 morning podcast on the stories making news from Wall Street 0:16:51.120 --> 0:16:52.600 to Washington and beyond. 0:16:52.840 --> 0:16:55.240 Look for us on your podcast feed by six am 0:16:55.280 --> 0:16:58.680 Eastern each morning on Apple, Spotify, or anywhere else you listen. 0:16:58.920 --> 0:17:02.040 You can also listen each morning starting at five am 0:17:02.120 --> 0:17:04.560 Wall Street Time on Bloomberg eleven three to zero in 0:17:04.640 --> 0:17:07.400 New York, Bloomberg in ninety nine to one in Washington, 0:17:07.480 --> 0:17:11.440 Bloomberg ninety two nine in Boston, and nationwide on serious 0:17:11.640 --> 0:17:13.200 XM Channel one twenty one. 0:17:13.560 --> 0:17:16.320 Plus listen coast to coast on the Bloomberg Business app 0:17:16.359 --> 0:17:19.160 now with Apple CarPlay and Android Atto interfaces. 0:17:19.400 --> 0:17:22.400 And don't forget to subscribe to Bloomberg News Now. It's 0:17:22.440 --> 0:17:25.160 the latest news whenever you want it in five minutes 0:17:25.240 --> 0:17:28.360 or less. Search Bloomberg News Now and your favorite podcast 0:17:28.400 --> 0:17:30.639 platform to stay informed all day long. 0:17:30.960 --> 0:17:32.560 I'm Karen Moscow. 0:17:32.359 --> 0:17:34.879 And I'm Nathan Hager. Join us again tomorrow morning for 0:17:34.920 --> 0:17:36.840 all the news you need to start your day right 0:17:36.880 --> 0:17:38.360 here on Bloomberg Day Ray