Stock Winning Streak Ahead of Key Data; Columbia Univ. President Resigns

Bloomberg Audio Studios, podcasts, radio News. 0:00:11.000 --> 0:00:13.800 Good morning, I'm Nathan Hager and I'm John Tucker. Here 0:00:13.840 --> 0:00:15.440 are these stories we're following today. 0:00:15.760 --> 0:00:17.720 John, the s and P five hundreds coming into the 0:00:17.800 --> 0:00:21.400 day on a five day winning streak. Another inflation report 0:00:21.480 --> 0:00:23.840 did little to alter bets that the FED will start 0:00:23.880 --> 0:00:27.400 cutting rates in September. Laura Raim is chief economist at 0:00:27.480 --> 0:00:28.440 FS Investments. 0:00:28.760 --> 0:00:31.920 I think they will cut twenty five. I think that 0:00:32.240 --> 0:00:36.120 given today's context, a fifty basis point where it cut 0:00:36.120 --> 0:00:39.640 would not be a bad idea, just to correct for 0:00:39.720 --> 0:00:42.680 the fact that they've made progress on inflation. 0:00:43.240 --> 0:00:44.080 They've got room. 0:00:44.120 --> 0:00:46.440 They're five to twenty five. They could take us down 0:00:46.880 --> 0:00:50.559 fifty basis points. However, I think they are worried that 0:00:50.600 --> 0:00:53.279 would signal big trouble to markets. 0:00:53.880 --> 0:00:56.840 FS Investments chief economist Laura ram says she is in 0:00:56.880 --> 0:00:59.920 favor of front loading rate cuts over the next few meetings. 0:00:59.640 --> 0:01:01.800 And the consumer is going to be in focus. This morning, 0:01:02.000 --> 0:01:05.200 we'll get the July reading on retail sales. The forecast 0:01:05.319 --> 0:01:07.200 is for a gain of four tenths of a percent. 0:01:07.440 --> 0:01:10.440 Also before the opening bill, earnings from the world's biggest 0:01:10.520 --> 0:01:14.839 retailer and Bloomberg's Tom BUSNY previews Walmart earnings. 0:01:15.160 --> 0:01:18.839 Well because of steady inflation pressures and higher borrowing costs. 0:01:18.880 --> 0:01:22.520 Investors expect to see comp sales at Walmart rose by 0:01:22.560 --> 0:01:25.520 about three point four percent last quarter as consumers look 0:01:25.560 --> 0:01:28.920 for bargains not just on groceries but also electronics, clothing, 0:01:29.040 --> 0:01:32.520 and more. Walmart also had been pursuing faster growing areas 0:01:32.560 --> 0:01:36.600 like advertising and marketplace, so Bloomberg consensus calls for revenue 0:01:36.600 --> 0:01:38.919 of one hundred sixty eight point four to six billion, 0:01:38.959 --> 0:01:43.680 adjustin Ernix per share of sixty five cents tom busby Bloomberg. 0:01:43.280 --> 0:01:46.360 Radio Okay, Tom, thank you. In Europe, the UK maintained 0:01:46.360 --> 0:01:49.040 a steady pace of recovery from last year's recession. Gross 0:01:49.040 --> 0:01:51.919 domestic product in Britain rose six tenths of one percent 0:01:51.960 --> 0:01:54.640 in the second quarter, after a seven tenths percent gain 0:01:54.680 --> 0:01:56.160 in the first three months of the year. 0:01:56.240 --> 0:01:59.360 And plenty of economic news out of Asia overnight. Japan's 0:01:59.360 --> 0:02:02.880 economy grew faster in the second quarter than the analysts forecast, 0:02:03.320 --> 0:02:07.200 and China saw signs of stabilization that included slowing declines 0:02:07.280 --> 0:02:11.120 in home prices and better than I expended retail sales. 0:02:10.880 --> 0:02:13.240 Now John to a developing story tied to this year's 0:02:13.240 --> 0:02:15.720 campus protests over the war in the Middle East, the 0:02:15.720 --> 0:02:18.440 president of one of the universities at the epicenter of 0:02:18.480 --> 0:02:22.760 the demonstrations has resigned. Bloomberg's Kimberly Adams has the details 0:02:22.760 --> 0:02:23.320 from New York. 0:02:23.840 --> 0:02:28.120 Columbia University President Manu Shaffik says she's stepping down effective immediately. 0:02:28.280 --> 0:02:31.000 In a statement, she says it's been a period of turmoil, 0:02:31.040 --> 0:02:33.720 and after reflecting over the summer, she's decided that moving 0:02:33.760 --> 0:02:37.200 on will best enable Columbia to traverse the challenges ahead. 0:02:37.280 --> 0:02:40.760 Schaffik's departure comes less than three weeks before classes begin 0:02:40.840 --> 0:02:44.680 at Columbia, signaling there may be more turmoil ahead. Schaffique 0:02:44.680 --> 0:02:47.400 called police to remove campus protesters at the end of 0:02:47.520 --> 0:02:52.080 last school year. Columbia's board says it regretfully accept Shaffik's resignation. 0:02:52.240 --> 0:02:55.200 House speaker Mike Johnson, who visited in April to condemn 0:02:55.320 --> 0:02:59.160 campus anti semitism, says her departure is long overdue. In 0:02:59.240 --> 0:03:01.519 New York, Emberly Adams Bloomberg. 0:03:01.160 --> 0:03:03.640 Radio, all right, thanks, Kimberly. In the Middle East today, 0:03:03.760 --> 0:03:06.320 Gaza cease fire talks are center a zoom and cutter. 0:03:06.919 --> 0:03:09.639 Israel is sending a team Doha to meet with US, 0:03:09.960 --> 0:03:13.800 Katori and Egyptian mediators. Hamas is not taking part, but 0:03:13.919 --> 0:03:17.000 sources say the Iran back group will be briefed afterward. 0:03:17.600 --> 0:03:20.079 Mediators have spent months on a three phase plan where 0:03:20.120 --> 0:03:23.240 Hamas would release hostages, Israel would pull out of Gaza, 0:03:23.400 --> 0:03:27.240 and Palestinians would be released from prisons. Axios is reporting 0:03:27.280 --> 0:03:30.639 former President Trump spoke with the Israeli Prime Minister Benjaminette 0:03:30.680 --> 0:03:33.079 Yahoo about the deal yesterday. 0:03:32.720 --> 0:03:35.280 And as for Vice President Kamala Harris, she's shifting her 0:03:35.320 --> 0:03:37.760 focus to the economy with a call for a federal 0:03:37.800 --> 0:03:41.320 ban on food and grocery price gouging. The Harris campaign 0:03:41.360 --> 0:03:43.320 says it's part of a broader set of proposals to 0:03:43.360 --> 0:03:46.040 reduce consumer costs. She plans to direct the Federal Trade 0:03:46.040 --> 0:03:50.000 Commission and other agencies to investigate and penalized corporations that 0:03:50.080 --> 0:03:52.560 violate the rules and to find other ways of tackling 0:03:52.600 --> 0:03:55.760 price fixing and other anti competitive practices in the food 0:03:55.800 --> 0:03:56.880 and grocery industries. 0:03:57.040 --> 0:04:01.000 And former President Trump downplaying the significant of the economy 0:04:01.280 --> 0:04:05.000 as he shifts campaign strategy. More from Bloomberg's and Baxter. 0:04:05.760 --> 0:04:08.360 Trump has traditionally had an advantage when it comes to 0:04:08.400 --> 0:04:12.040 the economy as an election issue, but campaigning in North Carolina, 0:04:12.160 --> 0:04:15.320 talking about his age, he said they wanted to do 0:04:15.400 --> 0:04:18.719 a speech on the economy. They say it's the most 0:04:18.720 --> 0:04:22.919 important subject. I'm not so sure it is. Then he 0:04:22.960 --> 0:04:26.479 went on to say inflation is the most important, but 0:04:26.640 --> 0:04:29.600 then at it, that's part of the economy. He also 0:04:29.640 --> 0:04:32.440 seemed to change his mind on the Affordable Care Act. 0:04:32.839 --> 0:04:35.080 She goes around saying, well, he's going to get rid. 0:04:34.960 --> 0:04:36.280 Of the health No. 0:04:36.279 --> 0:04:37.960 No, I'm going to keep it unless we could come 0:04:38.040 --> 0:04:40.680 up with something that's better for you and less expensive 0:04:40.680 --> 0:04:40.919 for you. 0:04:41.120 --> 0:04:44.400 Otherwise we're not doing it. Congressional Republicans have tried to 0:04:44.400 --> 0:04:47.240 repeal it, ed Baxter Bloomberg Radio. 0:04:47.080 --> 0:04:49.560 All right, and thank you. The two vice presidential candidates 0:04:49.560 --> 0:04:52.679 maybe closing in on a debate. Fox News is reporting 0:04:52.680 --> 0:04:56.120 Republican jd Vance has agreed to debate Democrat Tim Waltz. 0:04:56.160 --> 0:05:00.040 On CBS October first, Vance told Fox quote, actually, I 0:05:00.120 --> 0:05:01.520 think we should do more than one debate. 0:05:01.880 --> 0:05:04.279 And turning back to the market, Snathan shares of Cisco 0:05:04.400 --> 0:05:07.520 Systems up more than six percent. The biggest maker of 0:05:07.520 --> 0:05:11.760 computer networking equipment, delivered a bullish revenue forecast for the 0:05:11.800 --> 0:05:15.120 current period thanks to a rebounded orders. The company also 0:05:15.160 --> 0:05:17.919 announced plans to cut thousands of jobs as part of 0:05:17.960 --> 0:05:19.120 a strategy shift. 0:05:19.279 --> 0:05:21.599 We're also watching shares of aul to Beauty this morning, John, 0:05:21.600 --> 0:05:25.279 they are soaring nearly seventeen percent. Warren Buffett's Berkshire Hathaway 0:05:25.320 --> 0:05:28.760 disclosed a small stake in the retail cosmetics chain during 0:05:28.760 --> 0:05:31.640 the second quarter. Billionaire also took up a position in 0:05:31.720 --> 0:05:34.280 aerospace company Hiko, and that stock is up more than 0:05:34.320 --> 0:05:38.120 four percent. Buffett also added to his position in Serious 0:05:38.240 --> 0:05:41.120 ExM and that stock is hire by more than nine 0:05:41.120 --> 0:05:43.720 and a half percent, and a note Bloomberg Radio provides 0:05:43.800 --> 0:05:46.239 programming to Serious XM satellite radio. 0:05:46.440 --> 0:05:49.119 And shares of Nike at more than three percent. Bill 0:05:49.200 --> 0:05:53.359 Ackman's Pershing Square Capital disclosed a newstake of about three 0:05:53.480 --> 0:05:56.640 million shares in the world's largest sportswear company. 0:05:56.960 --> 0:05:59.719 Overall, John Hedge Funds continued to buy into some of 0:05:59.720 --> 0:06:02.640 the biggest tech companies in the second quarter, including Apple, 0:06:02.960 --> 0:06:06.440 while trimming positions in Nvidia. They also boosted exposures to 0:06:06.480 --> 0:06:10.480 other AI related firms like Amazon and Taiwan Semiconductor. Michael 0:06:10.520 --> 0:06:14.120 Burry continued to boost his steak in China's tech giant 0:06:14.200 --> 0:06:17.599 Ali Baba while slashing his overall equity portfolio and half 0:06:17.960 --> 0:06:21.600 Microsoft was cut or reduced by one hundred and forty investors. 0:06:21.600 --> 0:06:23.600 That was the biggest such reduction. 0:06:23.560 --> 0:06:26.600 And a big charitable gift from the parents of the 0:06:26.640 --> 0:06:30.560 world's second richest person. Jeff Bezos's parents, Mike and Jackie, 0:06:30.800 --> 0:06:33.119 donated more than one hundred and eighty five million dollars 0:06:33.160 --> 0:06:36.600 to the Aspen Institute this week to establish a new 0:06:36.680 --> 0:06:40.240 setter focused on young people. Jeff Bezos is a net 0:06:40.279 --> 0:06:43.080 worth of one hundred ninety three billion dollars. That's according 0:06:43.120 --> 0:06:49.960 to the Bloomberg Billionaires Index, and that burns US to 0:06:49.960 --> 0:06:51.680 five o seven on Wall Street. Time down for a 0:06:51.680 --> 0:06:53.479 look at some of the other stories making news in 0:06:53.480 --> 0:06:56.400 New York and around the world, and for that we're 0:06:56.480 --> 0:06:58.479 joined by Bloomberg's Michael Barr. 0:06:58.800 --> 0:07:02.119 Thank you very much. John. The US government's landmark drug 0:07:02.160 --> 0:07:06.360 price negotiations will save Americans seven point five billion dollars 0:07:06.400 --> 0:07:09.800 in its inaugural year. That's according to the Biden administration, 0:07:09.840 --> 0:07:12.840 who says it's a first step toward driving down costs 0:07:13.160 --> 0:07:17.320 by reducing its world leading tab to pharmaceutical companies. The 0:07:17.360 --> 0:07:21.680 Centers for Medicare and Medicaid Services say the savings will 0:07:21.720 --> 0:07:25.200 be split between senior citizens, who will likely pay one 0:07:25.240 --> 0:07:28.600 point five billion dollars less and out of pocket costs 0:07:28.800 --> 0:07:32.600 for ten medications. The government, as its health insurance program 0:07:32.720 --> 0:07:35.880 for the elderly, will pay six billion dollars less to 0:07:35.920 --> 0:07:39.480 treat heart failure, blood clots, diabetes, and other conditions. In 0:07:39.480 --> 0:07:43.160 twenty twenty six, the World Health Organization has declared a 0:07:43.160 --> 0:07:47.560 global public health emergency over the spread of impox cases 0:07:47.600 --> 0:07:50.880 in Africa. Health officials say the virus, formerly known as 0:07:51.000 --> 0:07:55.440 monkey pox, is spread through close contact with an infected person, animal, 0:07:55.560 --> 0:07:59.920 or material. Doctor John Brownstein is at Harvard Medical School. 0:08:01.880 --> 0:08:06.040 The Democratic Republic of Congo an escalation of cases, over 0:08:06.120 --> 0:08:09.520 fifteen thousand cases, over five hundred deaths, and we see 0:08:09.560 --> 0:08:11.720 a rapid spread not just in that country, but in 0:08:11.760 --> 0:08:13.040 neighboring country. 0:08:13.280 --> 0:08:16.480 Dr Brownstein spoke to ABC. An outbreak here in the 0:08:16.560 --> 0:08:19.400 US in twenty twenty two was largely brought under control. 0:08:19.800 --> 0:08:22.880 New Jersey Governor Phil Murphy will appoint his former chief 0:08:22.920 --> 0:08:26.360 of staff to replace Senator Bob Menendez, who was convicted 0:08:26.400 --> 0:08:30.360 on federal corruption charges last month. According to people familiar 0:08:30.400 --> 0:08:34.320 with the matter, the appointment of George Helmy, a fellow Democrat, 0:08:34.360 --> 0:08:38.040 will be announced tomorrow. The move insurers Democrats maintained their 0:08:38.160 --> 0:08:42.680 narrow fifty one forty nine Senate majority. Benendez last month 0:08:42.720 --> 0:08:46.720 announced he would resign effect of August twentieth, after Democratic 0:08:46.760 --> 0:08:50.960 colleagues threatened to expel him following the conviction. Ukraine is 0:08:51.000 --> 0:08:54.960 continuing its offensive endto Russia, gaining hundreds of square miles 0:08:54.960 --> 0:08:58.439 of Russian territory. This is the first time Russia has 0:08:58.480 --> 0:09:02.240 been invaded by another nation's World War Two. Former US 0:09:02.280 --> 0:09:04.760 Ambassador to Russia, John Sullivan ano. 0:09:04.640 --> 0:09:08.600 They're surprised by the Ukrainians. We've seen it time and 0:09:08.679 --> 0:09:11.840 time again over the course of this war, whether it 0:09:12.040 --> 0:09:16.079 was resisting the initial Russian invasion, sinking the Russian black 0:09:16.120 --> 0:09:20.000 Sea flagship, and now this invasion of Russia itself. 0:09:20.559 --> 0:09:23.840 Ukraine has now opened a hot line for Russian residents 0:09:23.840 --> 0:09:27.680 who want to evacuate to Ukraine. Meanwhile, a senior Russian 0:09:27.679 --> 0:09:30.640 military official is vowing to launch an all out offensive. 0:09:31.240 --> 0:09:33.800 Global News twenty four hours a day and whenever you 0:09:33.880 --> 0:09:36.640 want it with the Bloomberg News. Now, Michael Barran, this 0:09:36.840 --> 0:09:45.600 is Bloomberg, John, Michael, thanks yeah, now five ten Wall Street. Haam, 0:09:45.679 --> 0:09:47.320 that's time with the Bloomberg Sports Update. 0:09:47.400 --> 0:09:49.240 For that. Here's John stenshio Art. 0:09:49.240 --> 0:09:51.560 All right, John, Aaron Judge has been on the verge 0:09:51.559 --> 0:09:53.960 of a milestone, and he reached it eighth and eight 0:09:54.200 --> 0:09:56.319 in Chicago three zero. 0:09:57.000 --> 0:09:59.400 Judge shies it deep field. 0:09:59.320 --> 0:10:03.719 Quay back and gone goodbye. 0:10:05.000 --> 0:10:06.760 On a three old bitch. 0:10:07.440 --> 0:10:11.960 Judge Laser's home run number three hundred the fastest ever 0:10:12.040 --> 0:10:13.120 to hit that mark. 0:10:13.040 --> 0:10:16.240 On Wfan three run shot off the White Sox Chad Call. 0:10:16.400 --> 0:10:18.960 Judge's forty third home run this season, and he reaches 0:10:19.000 --> 0:10:22.000 three hundreds for his career way faster than anyone else. 0:10:22.080 --> 0:10:25.080 The record was the Pirates. Ralph Kine, of the longtime 0:10:25.160 --> 0:10:28.200 Mets announcer. He reached three hundred in one thousand and 0:10:28.320 --> 0:10:30.920 eighty seven games. Judge got there in nine hundred and 0:10:30.960 --> 0:10:33.640 fifty five. Austin Wells also homer at three hits, drove 0:10:33.679 --> 0:10:36.439 in three another home run for Juan Soto after three 0:10:36.520 --> 0:10:38.839 the night before the Yanks pulled away late beat the 0:10:38.920 --> 0:10:41.839 White Sox ten to two. Mets also pulled away late 0:10:41.880 --> 0:10:43.880 at City Field, six runs seventh in in the nine 0:10:43.960 --> 0:10:45.559 to one rout of Oakland to end of four game 0:10:45.600 --> 0:10:48.640 losing streak. Pete Alonzo four hits, including his twenty six 0:10:48.720 --> 0:10:52.040 home run. Francisco Lindor hit his twenty third. Atlanta won 0:10:52.120 --> 0:10:54.840 thirteen to two at San Francisco. Michael Harris has been 0:10:54.840 --> 0:10:57.640 out two months. His first at bat in his return 0:10:57.679 --> 0:10:59.760 a first dying in Grand Slam, Red Sox blew a 0:10:59.800 --> 0:11:03.120 three run ninth inning lead, lost to Texas nine seven 0:11:03.160 --> 0:11:05.760 and ten Baltimore by Washington four to one. Eighth straight 0:11:05.800 --> 0:11:09.600 win for Houston. Arizona and San Diego both stay hot 0:11:09.600 --> 0:11:12.320 in the NLS. Both were five hundred teams at the 0:11:12.320 --> 0:11:14.680 All Star break just last month, and they're now sixteen 0:11:14.760 --> 0:11:18.000 games four. Several NFL players either holding out or at 0:11:18.040 --> 0:11:21.160 least unhappy with their contracts. One of them was Matthew Judon. 0:11:21.360 --> 0:11:23.920 In New England, the Patriots have traded their four time 0:11:24.000 --> 0:11:27.080 Pro Bowl linebacker to Atlanta for a third round pick. 0:11:27.200 --> 0:11:30.440 Viking's rookie quarterback JJ McCarthy went in for knee surgery, 0:11:30.559 --> 0:11:32.880 not believed to be season ending, but a worse injury 0:11:32.960 --> 0:11:35.199 was revealed McCarthy won't play. 0:11:35.000 --> 0:11:35.840 At all this season. 0:11:36.120 --> 0:11:38.679 John Stashlee that we're Bloomberg Sports, Johnner, Nathan. 0:11:40.760 --> 0:11:44.920 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:45.000 --> 0:11:47.880 and around the world on Bloomberg dot Com and the 0:11:47.920 --> 0:11:51.320 Bloomberg Business app. This is Bloomberg Daybreak. 0:11:51.800 --> 0:11:54.679 Good morning on Nathan Hager. It's a sudden announcement now 0:11:54.679 --> 0:11:57.679 that the campus protests that rocked the country earlier this 0:11:57.800 --> 0:12:00.520 year have died down, But the president of one of 0:12:00.520 --> 0:12:03.800 the universities at the center of the turmoil, Minut Cheffique 0:12:03.800 --> 0:12:08.559 of Columbia University, has resigned, effective immediately. It could be 0:12:08.600 --> 0:12:11.440 a sign of more turmoil to come as new fall 0:12:11.480 --> 0:12:14.400 classes are set to begin. Joining us for more Bloomberg 0:12:14.440 --> 0:12:16.920 New Senior Editor Bill Ferries, Bill, good morning. You do 0:12:17.040 --> 0:12:20.160 have to wonder what sparked this decision to step down now, 0:12:20.240 --> 0:12:23.280 less than three weeks before classes get back up at Columbia. 0:12:24.679 --> 0:12:28.480 Yeah, President Schaffique was really still basically, you know, only 0:12:28.559 --> 0:12:32.120 about a year into her term there, and I'm sure 0:12:32.160 --> 0:12:35.520 it was a far more challenging year than she probably expected. 0:12:35.880 --> 0:12:38.800 You know, these these protests in some ways, given the 0:12:38.800 --> 0:12:41.120 news flow. It seems like it was quite a while ago, 0:12:41.160 --> 0:12:45.200 but we're really just talking about really April, late April. 0:12:44.840 --> 0:12:46.760 And even into early May, and it's the end of 0:12:46.800 --> 0:12:47.520 the school year. 0:12:48.400 --> 0:12:50.640 And then those a lot of those broke you know, 0:12:50.679 --> 0:12:54.920 those protests broke up as police were called in and 0:12:55.120 --> 0:12:58.120 students basically went home for the summer. The students are 0:12:58.200 --> 0:13:01.640 coming back now, and there are some you know, questions 0:13:01.720 --> 0:13:06.079 or concerns about whether those pro Palestinian protests will start 0:13:06.160 --> 0:13:08.920 up again, whether they will paralyze these campuses. 0:13:09.520 --> 0:13:10.920 But Shaffik is the. 0:13:10.760 --> 0:13:15.080 Third of the third Ivy League president to depart from 0:13:15.160 --> 0:13:17.520 you know, as kind of a result of all the 0:13:17.559 --> 0:13:19.480 turmoil we saw on the campuses at the end of 0:13:19.480 --> 0:13:20.040 the school year. 0:13:20.280 --> 0:13:22.560 And and I wonder if we've gotten some hint about whether 0:13:22.600 --> 0:13:25.760 we could see more campus protest on the campaign trail. 0:13:25.800 --> 0:13:28.880 I mean, Vice President Harris, just embarking on her new 0:13:28.920 --> 0:13:32.359 presidential campaign, has had to deal with some pro Palestinian 0:13:32.400 --> 0:13:35.439 hecklers at some of her rallies she. 0:13:35.520 --> 0:13:37.640 Has, I mean, for the you know, the Democrats, as 0:13:37.640 --> 0:13:41.160 we've talked about before, they really kind of threading a 0:13:41.280 --> 0:13:46.720 narrow needle here on the pale the conflict between Israel 0:13:46.760 --> 0:13:51.040 and palestineident Vice President Harris has come out and said 0:13:51.040 --> 0:13:53.360 that she thinks there needs to be a peace deal now. 0:13:53.679 --> 0:13:56.480 Of course, negotiators have been trying to talk about a 0:13:56.520 --> 0:13:59.959 peace deal, try to reach agreement for literally several month 0:14:00.000 --> 0:14:03.400 months now, and it doesn't seem like things are all 0:14:03.440 --> 0:14:06.680 that much closer. And at this point, the Mid East 0:14:06.760 --> 0:14:10.400 is also an even more tension awaiting a potential Iranian 0:14:10.480 --> 0:14:15.040 response to the killing of the Hamas political leader in 0:14:15.080 --> 0:14:16.920 Tehran just a couple of weeks ago. 0:14:17.320 --> 0:14:19.600 Yeah, and even as all this is going on, it's 0:14:19.680 --> 0:14:23.080 like presidential candidates sort of have to spend plates, I mean, 0:14:23.200 --> 0:14:26.680 Vice President Harris this week is trying to put focus 0:14:26.720 --> 0:14:29.840 on her economic agenda and the rollout of her vision 0:14:29.920 --> 0:14:30.760 for the economy. 0:14:32.200 --> 0:14:32.880 Yeah, she is. 0:14:33.200 --> 0:14:35.680 Vice President Harris expected to give kind of the first 0:14:35.760 --> 0:14:40.160 major policy speech on the economy Friday in North Carolina, 0:14:40.280 --> 0:14:43.920 which you know, interestingly enough, is a place both campaigns 0:14:44.240 --> 0:14:47.080 seem to be putting a lot more time and money into. 0:14:48.160 --> 0:14:50.320 We got a little hint of what might be in 0:14:50.320 --> 0:14:54.080 that speech late Wednesday night. The campaign said that she 0:14:54.320 --> 0:14:58.920 is going to talk about trying to put trying to 0:14:58.920 --> 0:15:02.960 go after what she called price gouging among food and 0:15:03.000 --> 0:15:07.120 grocery stores that she says has kind of contributed to 0:15:07.440 --> 0:15:11.880 some of the price increases we've seen in recent years. Inflation, 0:15:12.080 --> 0:15:15.720 of course, has been something that hurt President Joe Biden, 0:15:16.160 --> 0:15:20.440 and voters continue to say they have more confidence in 0:15:20.800 --> 0:15:24.120 former President Trump's ability to manage the economy. So I 0:15:24.120 --> 0:15:26.840 think this is Vice President Harris's attempt to start to 0:15:26.840 --> 0:15:27.840 get ahead of that a little bit. 0:15:28.000 --> 0:15:29.760 It makes it all the more interesting in our last 0:15:29.760 --> 0:15:32.280 thirty seconds that when former President Trump was in North 0:15:32.280 --> 0:15:36.000 Carolina himself just yesterday, he was talking about the economy, 0:15:36.040 --> 0:15:38.080 but kind of saying, well, maybe I don't want to 0:15:38.120 --> 0:15:39.280 talk about the economy. 0:15:40.520 --> 0:15:43.120 Yeah, it's a hard one to figure. I mean, voters 0:15:43.120 --> 0:15:46.560 give him higher marks on it. He said that maybe 0:15:46.560 --> 0:15:48.280 that's not the biggest issue anymore. 0:15:48.840 --> 0:15:49.760 Inflation isn't. 0:15:49.800 --> 0:15:52.440 I mean, of course, inflation has come down, but many 0:15:52.520 --> 0:15:54.400 voters or most voters would still say that. 0:15:54.360 --> 0:15:55.640 Prices seem quite high. 0:15:55.760 --> 0:15:58.720 So it does seem like a winning issue for the 0:15:58.760 --> 0:15:59.920 former president right now. 0:16:00.040 --> 0:16:01.920 It's not clear why he would want to walk away 0:16:01.920 --> 0:16:02.200 from that. 0:16:03.120 --> 0:16:06.200 This is Bloomberg Daybreak Today, your morning brief on the 0:16:06.240 --> 0:16:09.680 stories making news from Wall Street to Washington and beyond. 0:16:10.120 --> 0:16:12.480 Look for us on your podcast feed by six am 0:16:12.480 --> 0:16:16.240 Eastern each morning, on Apples, Spotify, and anywhere else you 0:16:16.280 --> 0:16:17.440 get your podcasts. 0:16:17.760 --> 0:16:20.480 You can also listen live each morning starting at five 0:16:20.520 --> 0:16:23.120 am Wall Street time on Bloomberg eleven three to zero 0:16:23.160 --> 0:16:26.080 in New York, Bloomberg ninety nine to one in Washington, 0:16:26.120 --> 0:16:29.000 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:29.080 --> 0:16:30.760 ninety sixty in San Francisco. 0:16:31.080 --> 0:16:33.720 Our flagship New York station is also available on your 0:16:33.760 --> 0:16:39.760 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:39.800 --> 0:16:43.360 Listen coast to coast on the Bloomberg Business app, seriusxmb 0:16:43.560 --> 0:16:47.440 iHeartRadio app, and on Bloomberg dot com. I'm Nathan Hager and. 0:16:47.360 --> 0:16:49.680 I'm John Tucker. Join us again tomorrow morning for all 0:16:49.720 --> 0:16:51.680 the news you need to start your day right here 0:16:51.960 --> 0:17:03.960 on Bloomberg day Break