Market Rebound; Harris VP Pick

Bloomberg Audio Studios, podcasts, radio news. 0:00:09.600 --> 0:00:11.400 Good morning, I'm Nathan Hager. 0:00:11.320 --> 0:00:15.120 And I'm Karen Moscow. Here are the stories we're following today, Karen. 0:00:15.200 --> 0:00:18.840 Stocks are continuing their recovery from Monday's massive selloff, with 0:00:18.920 --> 0:00:22.079 futures higher following yesterday's one percent gain for the S 0:00:22.120 --> 0:00:24.480 and P five hundred. All major groups in the index 0:00:24.600 --> 0:00:28.479 rows still. Stefold chief economist Lindsay PEGSA says there is 0:00:28.640 --> 0:00:30.960 major concern about the health of the US economy. 0:00:31.280 --> 0:00:33.520 Well, I think the risk of recession is still very real. 0:00:33.560 --> 0:00:36.040 I would put it in double digit territory, around twenty 0:00:36.040 --> 0:00:38.320 five to thirty percent when we look out to twenty 0:00:38.360 --> 0:00:42.600 twenty five and beyond. But my bigger concern is not 0:00:42.720 --> 0:00:46.120 that the US economy falls into negative territory or an 0:00:46.159 --> 0:00:49.920 outright recession, but the notion that we allow the economy 0:00:49.920 --> 0:00:54.480 to slow but the FED continues to tolerate above target inflation. 0:00:54.760 --> 0:00:57.959 Steve Fold, chief economists Lindsay Pegs and traders are moderating 0:00:58.000 --> 0:01:01.240 expectations of deep FED rate cuts this year, SWAP's point 0:01:01.240 --> 0:01:03.480 to around one hundred and five basis points of easing. 0:01:03.720 --> 0:01:05.800 That compares to as much as one hundred and fifty 0:01:05.840 --> 0:01:07.080 basis points on Monday. 0:01:07.560 --> 0:01:11.200 Well Nathan Goldman Sachs CEO David Solomon says market should 0:01:11.400 --> 0:01:14.119 not count on the FED stepping in with an emergency 0:01:14.160 --> 0:01:17.120 right cut. In an upcoming episode of the David Rubinstein 0:01:17.200 --> 0:01:20.039 Show peer to peer Conversation, Solomon said he doubts the 0:01:20.080 --> 0:01:21.679 Fed would act before September. 0:01:22.000 --> 0:01:25.199 The market expectation is certainly for cuts in the fall. 0:01:26.040 --> 0:01:28.960 I've been more cautious around inter straight cuts all year. 0:01:28.959 --> 0:01:31.280 As you remember, the market expectation early in the year 0:01:31.440 --> 0:01:33.800 was for six of seven cuts based on the economic 0:01:33.880 --> 0:01:35.840 data we're seen now in the messaging from the Fed. 0:01:36.240 --> 0:01:37.720 You know, I think it's likely that we'll see a 0:01:37.760 --> 0:01:39.840 cut or two in the fall, but I think you've 0:01:39.880 --> 0:01:41.760 still got to wait and see as things unfold. 0:01:42.400 --> 0:01:45.759 And Goldman Sachs CEO David Solomon added the stock market 0:01:45.800 --> 0:01:49.760 correction might be healthy, and he forecasts more volatility to come. 0:01:49.960 --> 0:01:50.520 In Asia. 0:01:50.640 --> 0:01:54.000 Karen, Japanese stocks rose more than one percent. A Bank 0:01:54.040 --> 0:01:57.000 of Japan officials sent a strong duffish signal by pledging 0:01:57.040 --> 0:01:59.960 to refrain from hiking interest rates when markets are unstable. 0:02:00.520 --> 0:02:02.880 Those words follow major moves in the end in record 0:02:02.920 --> 0:02:06.160 breaking swings in Japanese stocks following last week's rate hike. 0:02:06.480 --> 0:02:10.440 Nimura's executive officer and head of wholesale, Christopher Wilcox, defended 0:02:10.440 --> 0:02:10.920 the BOJ. 0:02:11.400 --> 0:02:14.040 I would say that the BOJ has been completely vindicated. 0:02:14.320 --> 0:02:16.280 They always knew that this unwind was going to be 0:02:16.400 --> 0:02:19.560 very difficult. That's why they've been so slow and so cautious. 0:02:19.600 --> 0:02:21.800 And yes, that puts some pressure on the end for 0:02:21.800 --> 0:02:24.320 a little while. And think about the carry trade. The 0:02:24.360 --> 0:02:26.880 point of the carry trade is that if they didn't 0:02:26.919 --> 0:02:29.640 start to move, the carry trade would only have got bigger. 0:02:29.680 --> 0:02:32.200 The end disruption of the unwinding of the carry trade 0:02:32.200 --> 0:02:34.280 would have been even bigger. So I think the BOJ 0:02:34.480 --> 0:02:35.880 is playing it extremely smartly. 0:02:36.080 --> 0:02:38.920 Namura' Christopher Wilcock says the three day meltdown in Japan's 0:02:38.919 --> 0:02:42.120 stocks adds up to one point one trillion dollars wiped out. 0:02:42.160 --> 0:02:45.000 That is the equivalent of Sweden's entire stock market. 0:02:45.440 --> 0:02:47.360 Well, Nathan, we'll have more on the markets than just 0:02:47.400 --> 0:02:49.799 a moment. But now let's get to the latest in 0:02:49.840 --> 0:02:53.640 the presidential race. Democratic nominee Kamala Harris has introduced her 0:02:53.720 --> 0:02:57.240 new running made Minnesota Governor Tim Waaltz set a rally 0:02:57.520 --> 0:03:01.720 in a swing state Pennsylvania. A leader who will. 0:03:01.480 --> 0:03:05.280 Help unite our nation and move us. 0:03:05.280 --> 0:03:10.960 Forward, a fighter for the middle class, and Governor Waltz 0:03:11.000 --> 0:03:13.880 came out fighting against former President Donald Trump. 0:03:14.320 --> 0:03:16.840 He froze in the face of the COVID crisis. 0:03:19.200 --> 0:03:23.720 He drove our economy into the ground. And make no mistake, 0:03:24.560 --> 0:03:27.560 violent crime was up under Donald Trump. 0:03:34.200 --> 0:03:36.240 That's not even counting the crimes he committed. 0:03:36.920 --> 0:03:40.080 Governor Waltz is a favorite of progressives and organized labor, 0:03:40.120 --> 0:03:43.520 but former Democratic National Committee CEO Amy Dacy says the 0:03:43.560 --> 0:03:45.360 party is rallying behind him. 0:03:45.560 --> 0:03:49.000 You saw a sense of energy and optimism that you 0:03:49.080 --> 0:03:51.960 haven't seen you for a while with the Democratic ticket. 0:03:52.160 --> 0:03:55.240 If you're going to advise them, is that keep thought, authenticity, 0:03:55.600 --> 0:03:58.840 listen as well as speak. Make sure that you're out 0:03:58.880 --> 0:04:01.720 there and understanding people's pain. 0:04:02.640 --> 0:04:06.400 Former DNC chief Amy Dacy notes both progressive Alexandria Casio 0:04:06.440 --> 0:04:10.000 Cortez and centrist Joe Manchin are backing Waltz. The Harris 0:04:10.000 --> 0:04:13.120 campaign says it raised twenty million dollars after she announced 0:04:13.120 --> 0:04:15.640 her running mate, and a new poll from NPR PBS 0:04:15.640 --> 0:04:19.200 News in Merist College now has Harris leading Trump nationally 0:04:19.240 --> 0:04:21.480 fifty one percent to forty eight percent. 0:04:21.960 --> 0:04:22.120 Well. 0:04:22.120 --> 0:04:25.200 One other political note this morning, Nathan Corey Bush lost 0:04:25.240 --> 0:04:28.400 a bitter primary battle for their shrinking this squad of 0:04:28.440 --> 0:04:31.800 House progressives. The Missouri Democrat is an outspoken critic of 0:04:31.880 --> 0:04:34.599 Israel's handling of the war in Gaza. She lost to 0:04:34.600 --> 0:04:38.320 Saint Louis County prosecuting attorney Wesley Bell. According to the 0:04:38.320 --> 0:04:41.320 Associated Press, with ninety four percent of votes counted, Bell 0:04:41.440 --> 0:04:44.920 had fifty one percent support, compare with about forty six 0:04:44.960 --> 0:04:45.800 percent for Bush. 0:04:46.240 --> 0:04:48.880 All right, let's return to markets now, Karen, where shares 0:04:48.880 --> 0:04:52.000 of the maker of a blockbuster weight loss drug are 0:04:52.040 --> 0:04:55.040 slimming down and trading Novan Nordisk is down more than 0:04:55.080 --> 0:04:57.680 three percent. For more, Let's go to Europe and check 0:04:57.720 --> 0:04:59.279 in with Bloomberg's ew and Potts in London. 0:04:59.320 --> 0:05:02.839 Ewan, Nathan, and Karen. It's Europe's most valuable company. But 0:05:02.920 --> 0:05:06.839 Novo Nordisk has disappointed investors this morning. Revenue from weight 0:05:06.880 --> 0:05:09.720 loss treatment week of He's being hit by high unexpected 0:05:09.800 --> 0:05:13.760 price concessions in the US, It's most important market. Novo 0:05:13.839 --> 0:05:16.279 called it a one off factor, but the size of 0:05:16.279 --> 0:05:19.839 the shortfall is raising concerns among investors about growing competition 0:05:19.920 --> 0:05:23.560 from American rival Eli Lilly. The market for BST drugs 0:05:23.600 --> 0:05:26.400 is expected to reach one hundred and thirty billion dollars 0:05:26.400 --> 0:05:28.440 by the end of the decade, but it's clear nov 0:05:28.560 --> 0:05:31.440 Nordisk willing to fight for market share. In London, I'm 0:05:31.440 --> 0:05:33.400 youn pots Bloomberg Radio, all right, ew. 0:05:33.320 --> 0:05:36.159 And thank you well. Here in the US, Airbnb investors 0:05:36.200 --> 0:05:40.400 are checking out this morning. Shares are down about sixteen percent. 0:05:40.760 --> 0:05:43.960 The company gave a disappointing outlook for a third consecutive quarter. 0:05:44.320 --> 0:05:47.560 It's also a warning of slowing demand from US vacationers, 0:05:47.560 --> 0:05:50.679 assigned that travel momentum is tapering off despite the peak 0:05:50.720 --> 0:05:51.719 summer season and. 0:05:51.800 --> 0:05:54.280 Karen Shares of super Micro Computer are down more than 0:05:54.360 --> 0:05:57.760 twelve percent. That company reported quarterly revenue and profit that 0:05:57.839 --> 0:06:01.600 miss analyst estimates. We get the numbers from Bloomberg's Charlie Pellett. 0:06:01.920 --> 0:06:05.320 It outweighs an annual sales outlook that was billions above 0:06:05.360 --> 0:06:09.640 Wall Street projections, profit excluding some items six twenty five 0:06:09.720 --> 0:06:13.400 a share short of super Micro's previous forecast, and the 0:06:13.760 --> 0:06:17.440 eight dollars twenty five cent average analysts estimate a jump 0:06:17.440 --> 0:06:21.320 in demand for the equipment that powers artificial intelligence training 0:06:21.560 --> 0:06:25.719 and applications has helped drive sales at super Micro, which 0:06:25.760 --> 0:06:30.720 makes data center servers in New York. Charlie Pellett Bloomberg. 0:06:30.279 --> 0:06:33.159 Radio Right, Charlie, thank you. On the flip side, shares 0:06:33.200 --> 0:06:36.200 of Luman Technologies are searing more than forty two percent. 0:06:36.279 --> 0:06:40.560 The company, which provides fiber networks for artificial intelligence data processing, 0:06:40.839 --> 0:06:43.560 says a surge in demand is leading to a surge 0:06:43.600 --> 0:06:46.760 in sales. Luhmann also boosted its full year free cash 0:06:46.800 --> 0:06:50.279 flow forecast a one to one point two billion dollars. 0:06:50.480 --> 0:06:58.120 It previously saw one hundred to three hundred million. Time 0:06:58.160 --> 0:06:59.280 to off for a look at some of the other 0:06:59.360 --> 0:07:01.520 stories making news in New York and around the world, 0:07:01.600 --> 0:07:04.200 and for that we're joined by Bloomberg's John Tucker, John, 0:07:04.240 --> 0:07:05.039 good Morning. 0:07:04.920 --> 0:07:07.279 And Karen. A floodwatch has now been lifted for the 0:07:07.320 --> 0:07:10.280 city after as much as five inches of rain in 0:07:10.400 --> 0:07:13.800 just several hours. Le Mini streets, homes and businesses in 0:07:13.880 --> 0:07:17.240 the Tri State inundated last night at cold front triggered 0:07:17.280 --> 0:07:20.120 severe storms. New York City officials for the first time, 0:07:20.160 --> 0:07:23.360 we're using a drone to transmit emergency weather alerts to 0:07:23.400 --> 0:07:31.920 residents were Bloomberg meteorologist Rob Carolyn tells us, we'll get 0:07:31.960 --> 0:07:33.400 just a temporary break. 0:07:33.720 --> 0:07:35.640 Well, we saw anywhere from an inch and a half 0:07:35.680 --> 0:07:37.720 of rain over portions of the city to as much 0:07:37.760 --> 0:07:40.840 as five inches in parts of Connecticut and New Jersey. 0:07:40.880 --> 0:07:43.200 The good news is that system is pulling out this morning. 0:07:43.560 --> 0:07:46.080 Rain moves out of the region very early on and 0:07:46.120 --> 0:07:49.240 we'll see drier conditions. Unfortunately, though, Oyster from Debbie's going 0:07:49.280 --> 0:07:52.120 to bring rain back into the tri state area later tonight, 0:07:52.160 --> 0:07:53.960 and we'll see it again tomorrow and into Friday. 0:07:54.200 --> 0:07:56.800 John the New York Posts a handful of people had 0:07:56.840 --> 0:07:59.800 to be rescued from their cars at Aarhizi water trapped 0:07:59.840 --> 0:08:03.040 them on the Henry Hudson Parkway and the major Diggon Expressway. 0:08:03.600 --> 0:08:06.320 Hamas is named the alleged mastermind of the group's October 0:08:06.440 --> 0:08:09.760 seven attack on Israel. As its new political leader. He 0:08:09.840 --> 0:08:13.360 succeeds a key mediator who's assassination last week has set 0:08:13.400 --> 0:08:16.560 back to cease fire talks. New York state voters support 0:08:16.560 --> 0:08:20.840 banning smartphones and classrooms by a wide margin. More from Bloomberg' 0:08:20.880 --> 0:08:21.720 Jeff Bellinger. 0:08:22.200 --> 0:08:25.160 According to a poll from Siena College. Voters back a 0:08:25.240 --> 0:08:29.160 school smartphone ban by sixty percent to thirty two percent. 0:08:29.520 --> 0:08:33.520 There is growing nationwide concern that the devices distract from learning. 0:08:33.800 --> 0:08:37.199 New York City School's Chancellor David Banks said heat plans 0:08:37.200 --> 0:08:40.520 and across the board ban on mobile phones. Governor Kathy 0:08:40.600 --> 0:08:43.800 Hockel said she intends to propose a state wide ban 0:08:43.920 --> 0:08:47.440 in schools during the twenty twenty five legislative session. Some 0:08:47.640 --> 0:08:50.440 New York schools that already have bans in place have 0:08:50.520 --> 0:08:56.360 seen positive results, including increased grades. Jeff Bellinger, Bloomberg Radio. 0:08:56.240 --> 0:08:58.480 Global News twenty four hours a day and whatever he 0:08:58.520 --> 0:09:01.240 wanted with Bloomberg News Now, I'm John Tucker. Yeah, this 0:09:01.559 --> 0:09:03.360 is Bloomberg Nathan and Karen. 0:09:03.559 --> 0:09:10.520 All right, John, thank you time now for the Bloomberg 0:09:10.600 --> 0:09:13.600 Sports Update with John Stafshawer. John, good morning, Good. 0:09:13.520 --> 0:09:15.360 Morning, Karen. The Mets signed a couple of the free 0:09:15.360 --> 0:09:18.040 agents starting pitchers and the offseason Sean and I has 0:09:18.040 --> 0:09:21.000 been really good. Luis Severino the x Yankee, not so 0:09:21.080 --> 0:09:24.520 much specially lately. Sevarinos Era in July was near six. 0:09:24.600 --> 0:09:27.240 First start of August, took the loss in Denver. The 0:09:27.280 --> 0:09:29.400 Rockies won six to three. Yankees reigned out at the 0:09:29.400 --> 0:09:32.440 stadium straight double letter with the Angels today starting at 0:09:32.440 --> 0:09:35.280 four when Baltimore lost in Toronto, had put the Yanks 0:09:35.280 --> 0:09:37.880 into sole possession of first by a half game, though 0:09:37.880 --> 0:09:40.600 White Sox had not one of James since July tenth. 0:09:40.640 --> 0:09:44.240 The twenty one game losing streak ended in Oakland. Chicago 0:09:44.320 --> 0:09:47.480 won five to one, raising its season record to twenty 0:09:47.480 --> 0:09:50.160 eight and eighty eight. Houston Astros got a no hitter 0:09:50.200 --> 0:09:52.360 early this season from Renel Blanco. They got one last 0:09:52.360 --> 0:09:56.360 season from Fraanburg Valdez. Valdez in Texas was one out 0:09:56.400 --> 0:09:59.040 from another no hitter the Rangers. Kyle Seger broke it 0:09:59.120 --> 0:10:02.120 up for the home three gold medals won by US athletes. 0:10:02.160 --> 0:10:05.160 A neat Elore only twenty years old, she's the youngest 0:10:05.160 --> 0:10:08.760 American to win Golden Women's wrestling. She outscored her opponents 0:10:08.760 --> 0:10:11.760 by a combined thirty four to two. Track and field 0:10:11.840 --> 0:10:15.480 Cole Hawker upset win in the fifteen hundred meters. Gabby 0:10:15.520 --> 0:10:18.239 Thomas took the two hundred. She had competed in Tokyo 0:10:18.600 --> 0:10:21.480 when there were no fans, not the case in Paris. 0:10:22.080 --> 0:10:25.320 There is nothing like walking into a stadium of eighty 0:10:25.360 --> 0:10:27.400 thousand people and they're screaming and they're right on top 0:10:27.440 --> 0:10:31.160 of you. That is a lot of pressure to put 0:10:31.200 --> 0:10:33.520 on someone and a lot of pressure for us to 0:10:33.559 --> 0:10:36.679 kind of deal with. So it was definitely very different. 0:10:36.840 --> 0:10:38.760 But it's also it made it a lot more special 0:10:38.760 --> 0:10:41.240 when I crossed the line as a champion because I 0:10:41.240 --> 0:10:43.440 got to share that experience with everyone. I got to 0:10:43.480 --> 0:10:44.560 hear the crowd roar. 0:10:45.040 --> 0:10:48.720 Men's basketball easy quarterfinal route went over Brazil one twenty 0:10:48.760 --> 0:10:52.120 two to eighty seven. Next up Serbia tomorrow in the semifinals. 0:10:52.120 --> 0:10:54.840 Next up for the US women's soccer gold medal Games 0:10:54.880 --> 0:10:58.200 senturdaygainst Brazil and both the quarterfinals and the semis against Germany. 0:10:58.240 --> 0:11:01.000 The US won one nil time, scoring the only goal 0:11:01.000 --> 0:11:04.000 in extra time. John stash Allett, Bloomberg Sports. 0:11:03.800 --> 0:11:09.840 County, Nape Coast to Coast on Bloomberg Radio, nationwide on 0:11:10.000 --> 0:11:13.640 Sirius XM, and around the world on Bloomberg dot Com 0:11:13.679 --> 0:11:17.360 and the Bloomberg Business app. This is Bloomberg Daybreak. 0:11:17.480 --> 0:11:18.840 Good morning, I'm Nathan Hager. 0:11:18.960 --> 0:11:19.560 Vice President. 0:11:19.640 --> 0:11:22.400 Kamala Harris is kicking off a crucial stage of her 0:11:22.440 --> 0:11:26.079 presidential campaign with her new running mate in tow and Minnesota. 0:11:26.120 --> 0:11:29.800 Governor Tim Waltz is already coming out swinging against Republicans 0:11:29.800 --> 0:11:33.200 Donald Trump and Jade Vance and his first appearance as 0:11:33.400 --> 0:11:37.520 running mate in Philadelphia. Joining us now is Tina Fordham, 0:11:37.559 --> 0:11:42.360 founder and geopolitical strategist at Fordham Global Foresight. Tina, it's 0:11:42.360 --> 0:11:45.199 great to speak with you again. This morning. Vice President 0:11:45.200 --> 0:11:48.880 Harris introduced Governor Waltz as a fighter for the middle class. 0:11:48.960 --> 0:11:52.960 Of course, he's been credited with coining the term weird 0:11:53.480 --> 0:11:55.959 that seems to be resonating among Democrats when it comes 0:11:56.000 --> 0:11:58.920 to messaging against the Republican ticket. What's your reaction to 0:11:59.080 --> 0:12:01.240 his introduction out to a national audience. 0:12:02.000 --> 0:12:05.560 You know, it was fascinating to watch the scenes at 0:12:05.600 --> 0:12:09.600 the rally in Philadelphia. There was a lot of energy, 0:12:09.679 --> 0:12:13.959 there was a very very interesting, i think, very positive 0:12:14.080 --> 0:12:18.200 chemistry between Harris and Waltz. And you know, like a 0:12:18.240 --> 0:12:21.920 lot of people, I didn't know much about him until 0:12:21.920 --> 0:12:25.000 his name got on the short list, but he's got 0:12:25.040 --> 0:12:28.320 an interesting story. But more than anything, his way of 0:12:28.679 --> 0:12:32.840 framing the issues I think is really landing. The weird 0:12:33.000 --> 0:12:37.920 idea is just one of those mechanisms. But also his 0:12:38.080 --> 0:12:40.120 plain spokenness is. 0:12:40.080 --> 0:12:43.640 That going to be enough, the weird messaging to go 0:12:43.720 --> 0:12:45.160 after Trump and the Republicans. 0:12:45.600 --> 0:12:48.160 You know, speaking from a political science point of view, 0:12:48.200 --> 0:12:53.120 it can be a very effective tool for marginalizing your opponent. 0:12:54.600 --> 0:12:56.480 You know, there are those who would say that using 0:12:56.760 --> 0:13:00.720 humor or satire is childish. I don't agree. And also 0:13:00.800 --> 0:13:05.000 it works a lot better than Biden's apocalyptic rhetoric, which 0:13:05.080 --> 0:13:08.000 really didn't move people well. 0:13:08.120 --> 0:13:11.320 As a governor, as a former congressman, he does have 0:13:11.400 --> 0:13:15.200 a record. He supported free school meals, paid family leave 0:13:15.400 --> 0:13:18.600 as governor Pennsylvania. He has kind of a nuanced stance 0:13:18.640 --> 0:13:21.280 when it comes to China. He's got a long history 0:13:21.320 --> 0:13:25.160 as a former teacher. There could those be vulnerabilities for 0:13:25.320 --> 0:13:26.959 Governor Waltz anything. 0:13:27.240 --> 0:13:29.839 It can be a vulnerability in this day and age 0:13:29.880 --> 0:13:32.439 where you know, people can dredge up something that was 0:13:32.480 --> 0:13:37.200 said decades ago. He's he's a vice president, he's not 0:13:37.280 --> 0:13:40.319 running as a president. He's not there to bring foreign 0:13:40.400 --> 0:13:45.840 policy cred to the ticket. This is a very unusual race. 0:13:45.920 --> 0:13:49.520 It doesn't necessarily need to be said. They're starting late 0:13:49.559 --> 0:13:52.440 in the game, and I think what Waltz brings to 0:13:52.520 --> 0:13:55.599 the ticket is a lot of energy. You know, his 0:13:55.760 --> 0:14:00.240 kind of football coach approached to going on offense. And 0:14:00.440 --> 0:14:04.079 let's see how it resonates with voters. They if they 0:14:04.120 --> 0:14:06.880 want to be part of this, And it's also a 0:14:06.920 --> 0:14:10.760 generational changing of the guard. You know, they're both sixty, 0:14:10.840 --> 0:14:14.439 which is young in this race as it has been 0:14:14.480 --> 0:14:14.880 so far. 0:14:15.360 --> 0:14:19.560 Yeah, interesting to think of sixty as young now considering 0:14:19.600 --> 0:14:22.040 where presidential races have been in the past, other than 0:14:22.280 --> 0:14:26.240 Trump and Biden, I suppose, But of course Governor Waltz 0:14:26.720 --> 0:14:29.760 has already come out as a favorite of progressives and 0:14:29.880 --> 0:14:33.560 blue collar workers. Was Vice President Harris really at risk 0:14:33.720 --> 0:14:37.760 of losing that part of the Biden coalition without bringing 0:14:37.800 --> 0:14:40.240 in someone like Waltz? Did she miss an opportunity? Why 0:14:40.400 --> 0:14:43.160 not picking someone with more centrist appeal like Josh Shapiro 0:14:43.240 --> 0:14:43.880 or Mark Kelly. 0:14:44.760 --> 0:14:48.800 I mean, if you look at the data the Electoral College, 0:14:49.680 --> 0:14:54.200 you know, power of a vice presidential candidate hasn't amounted 0:14:54.240 --> 0:14:58.320 to much since you know, probably Al Gore and the 0:14:58.360 --> 0:15:02.480 state of Tennessee. And so we're talking about about point 0:15:02.600 --> 0:15:07.480 oh four percent. And what's more, this whole political beauty 0:15:07.520 --> 0:15:11.280 pageant that the Democrats have been through have really put 0:15:11.400 --> 0:15:15.800 people like Josh Shapiro, obviously, Pete Buddhajetz who already was 0:15:16.160 --> 0:15:20.800 in the cabinet, Kelly and others much more prominently. So 0:15:20.880 --> 0:15:24.800 there's a sense that, you know, there's a lot of 0:15:25.040 --> 0:15:28.040 talent on the Democratic side to be mobilized for this. 0:15:28.160 --> 0:15:31.120 I don't think that the fact that Josh Shapiro isn't 0:15:31.160 --> 0:15:34.400 on the ticket means that Harris is less likely to 0:15:34.760 --> 0:15:38.360 get Pennsylvania. The other thing that's interesting about Waltz, of 0:15:38.400 --> 0:15:42.400 course it's less quantitative, is that he has one in 0:15:42.680 --> 0:15:48.080 in red districts and in formerly red state. So that 0:15:48.360 --> 0:15:51.880 is powerful too when it comes to the idea of persuasion, 0:15:52.000 --> 0:15:55.120 and that's what the Harris Waltz ticket has to do 0:15:55.720 --> 0:15:59.720 fast to not only rebuild, you know, as much of 0:15:59.760 --> 0:16:03.680 the and maybe even the Obama coalition, but to persuade 0:16:03.720 --> 0:16:08.400 the disgruntled, independence and undecided. 0:16:08.680 --> 0:16:11.600 This is Bloomberg day Break Today, your morning brief on 0:16:11.680 --> 0:16:15.200 the stories making news from Wall Street to Washington and beyond. 0:16:15.480 --> 0:16:18.240 Look for us on your podcast feed at six am 0:16:18.320 --> 0:16:21.960 Eastern each morning on Apple, Spotify, and anywhere else you 0:16:22.040 --> 0:16:23.240 get your podcasts. 0:16:23.320 --> 0:16:26.040 You can also listen live each morning starting at five 0:16:26.080 --> 0:16:28.680 am Wall Street Time on Bloomberg eleven three to zero 0:16:28.720 --> 0:16:31.560 in New York, Bloomberg ninety nine to one in Washington, 0:16:31.680 --> 0:16:34.880 Bloomberg one oh six' one in Boston, and Bloomberg ninety 0:16:34.920 --> 0:16:36.320 sixty in San Francisco. 0:16:36.680 --> 0:16:39.840 Our flagship New York station is also available on your 0:16:39.880 --> 0:16:45.320 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:45.360 --> 0:16:48.760 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:16:48.880 --> 0:16:53.160 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:52.960 --> 0:16:56.080 And I'm Karen Moscow. Join us again tomorrow morning for 0:16:56.200 --> 0:16:58.720 all the news you need to start your day right 0:16:58.720 --> 0:17:00.400 here on Bloomberg day Break