Stocks Rise in Volatile Week; Trump-Harris Debate Plans

Bloomberg Audio Studios, podcasts, radio news. Good morning, I'm Nathan 0:00:10.880 --> 0:00:13.840 Hager and I'm Karen Moscow. Here are the stories we're 0:00:13.880 --> 0:00:14.680 following today. 0:00:14.880 --> 0:00:17.360 Karen of Volatile week in equity markets comes to an 0:00:17.440 --> 0:00:19.959 end with futures higher. The week started with a three 0:00:20.040 --> 0:00:22.960 percent drop for the S and P five hundred. The 0:00:23.000 --> 0:00:25.840 index then gained in two of its next three sessions, 0:00:25.880 --> 0:00:29.880 including yesterday's two point three percent advance, its best session 0:00:30.000 --> 0:00:33.559 since November of twenty twenty two. Lori Calvacina, head of 0:00:33.640 --> 0:00:37.040 US equity strategy at OURBC Capital Market, says, a lot 0:00:37.040 --> 0:00:39.200 of negative catalysts converged this week. 0:00:39.479 --> 0:00:41.559 We were vulnerable for a lot of different reasons. I 0:00:41.560 --> 0:00:43.680 think that's all come to play this week, and obviously 0:00:43.680 --> 0:00:46.040 the end carry trade, what happened with the economic data 0:00:46.080 --> 0:00:48.560 last week, that's all front and center. But we also 0:00:48.600 --> 0:00:51.400 had stretched sentiment on a variety of indicators that were 0:00:51.440 --> 0:00:53.840 basically telling me for a while, regardless of what the 0:00:53.920 --> 0:00:56.440 issue was, we were vulnerable to some downside. 0:00:56.840 --> 0:01:00.640 RBC's Lori Calvacina attributed yesterday's gains to the labor market. 0:01:00.680 --> 0:01:03.720 Fewer people applied for unemployment benefits than expected. 0:01:04.520 --> 0:01:07.560 Well at one point. Nathan interest rates swaps applied a 0:01:07.640 --> 0:01:10.399 sixty percent chance of an emergency rate cut by the 0:01:10.440 --> 0:01:13.280 Fed in the coming week, well before it's next scheduled 0:01:13.319 --> 0:01:17.080 meeting in September. Current pricing suggests about forty basis points 0:01:17.080 --> 0:01:20.320 of cuts for September, but Richmond FED President Thomas Markin 0:01:20.400 --> 0:01:23.280 says policymakers will be in a good position to assess 0:01:23.319 --> 0:01:25.199 the economy over the coming months. 0:01:25.640 --> 0:01:27.720 I think you've got some time in a healthy economy 0:01:27.840 --> 0:01:31.520 to figure out whether this is an economy that's gently 0:01:31.560 --> 0:01:34.120 moving into a normalizing state that will allow you to 0:01:34.840 --> 0:01:37.560 you know, in a steady, deliberate way normalized rates, you know, 0:01:37.600 --> 0:01:40.000 and hit the stick the landing. If I could use 0:01:40.040 --> 0:01:44.680 another balance beam analogy, or you know, is this one 0:01:44.720 --> 0:01:46.959 where you really do have to lean into it. 0:01:47.360 --> 0:01:50.600 As for the labor market, Richmond Feds Thomas Markin says 0:01:50.640 --> 0:01:54.120 he does not see widespread layoffs as imminent. 0:01:54.000 --> 0:01:56.800 And Karen another FED official signaling he's not ready to 0:01:56.840 --> 0:02:01.920 cut rates just jet. Kansas City FED president Jeffrey Schmid says, quote, 0:02:02.040 --> 0:02:05.720 we are not quite there in cooling inflation. Schmid is 0:02:05.720 --> 0:02:07.120 among the more hawkish FED. 0:02:06.960 --> 0:02:08.640 Officials well in Asia. 0:02:08.680 --> 0:02:11.919 Nathan China's consumer prices rose more than expected in July, 0:02:12.120 --> 0:02:14.880 and that's boosting the case for more central bank support. 0:02:15.040 --> 0:02:18.679 CPI came in at half percent, beating estimates. Bloomberg. John 0:02:18.760 --> 0:02:21.960 lew says a lot of that rise came from bad weather. 0:02:22.520 --> 0:02:25.960 This data characterizes this economy as having as being one 0:02:26.000 --> 0:02:29.639 with very little demand and one in which a companies 0:02:29.720 --> 0:02:31.840 business is a very weak pricing power. 0:02:32.160 --> 0:02:35.480 In Bloomberg, John lou As at China's Politburo has voud 0:02:35.520 --> 0:02:39.000 to make boosting consumer spending a greater policy focus. 0:02:39.200 --> 0:02:41.280 All right, let's chick some stocks on the move this morning. 0:02:41.320 --> 0:02:44.560 Karen Shares of Taiwan's Semiconductor are up more than four percent. 0:02:44.680 --> 0:02:48.200 Revenue rows forty five percent in July, accelerating its pace 0:02:48.240 --> 0:02:51.920 of growth from the June quarter. TSMC is also bolstering 0:02:51.960 --> 0:02:56.000 hopes for sustained strong demand for artificial intelligence chips from 0:02:56.000 --> 0:02:59.000 the likes of Nvidia. Also keeping an eye on shares 0:02:59.040 --> 0:03:02.600 of Expedia, there nearly eleven percent. The travel company posted 0:03:02.600 --> 0:03:06.920 earnings above estimates, and Pidney bows is surging twenty two percent. 0:03:07.040 --> 0:03:09.400 The shipping firm also topped earnings estimates. 0:03:09.880 --> 0:03:12.160 Well. Now to the latest on the presidential race Nathan. 0:03:12.240 --> 0:03:15.560 Former President Donald Trump is looking to reclaim the spotlight 0:03:15.600 --> 0:03:19.080 after the weave of democratic enthusiasm for a vice president 0:03:19.120 --> 0:03:22.680 Kamala Harris. In an hour long news conference at ismar 0:03:22.720 --> 0:03:26.520 a Lago estate in Florida, challenged Harris to three debates 0:03:26.560 --> 0:03:30.080 next month on Fox, ABC and NBC, and he went 0:03:30.160 --> 0:03:34.280 after the vice president for not answering reporters questions herself. 0:03:34.520 --> 0:03:35.800 She hasn't done an interview. 0:03:36.040 --> 0:03:37.160 She can't do an interview. 0:03:37.200 --> 0:03:40.360 She's barely competent and she can't do an interview. 0:03:40.840 --> 0:03:43.119 But I look forward to the debates because. 0:03:42.840 --> 0:03:44.680 I think we have to set the record straight. 0:03:45.080 --> 0:03:48.320 Till now, Trump had suggested he didn't see and need 0:03:48.320 --> 0:03:51.040 to debate Harris because he was ahead in the polls 0:03:51.200 --> 0:03:51.560 well Karin. 0:03:51.600 --> 0:03:54.640 The former president also put his record against the Federal Reserve, 0:03:54.800 --> 0:03:58.120 saying presidents should have some say over monetary policy. 0:03:58.440 --> 0:04:00.280 In my case, I've made a lot of mine. I 0:04:00.360 --> 0:04:01.480 was very successful, and. 0:04:01.480 --> 0:04:04.040 I think I have a better instinct than in many 0:04:04.080 --> 0:04:06.400 cases people that would be on the Federal Reserve or 0:04:06.480 --> 0:04:07.000 the chairman. 0:04:07.160 --> 0:04:09.560 Trump also dismissed the idea there wouldn't be a peaceful 0:04:09.600 --> 0:04:12.160 transfer of power if he's not elected. He also said 0:04:12.160 --> 0:04:14.160 he does not think abortion rights will be a big 0:04:14.240 --> 0:04:17.120 issue in the campaign. As for the debates, Vice President 0:04:17.120 --> 0:04:20.160 Harris says she looks forward to debating Trump on ABC 0:04:20.240 --> 0:04:22.560 News September tenth, but she will not appear with him 0:04:22.560 --> 0:04:26.240 on Fox Before that. She will appear with President Biden 0:04:26.360 --> 0:04:29.159 next week in their first joint appearance since the President 0:04:29.240 --> 0:04:31.960 dropped his reelection bid. The White House says Biden and 0:04:32.080 --> 0:04:35.480 Harris will head to Maryland next Thursday to discuss how 0:04:35.520 --> 0:04:38.440 they're lowering costs for Americans Well Nathan. 0:04:38.600 --> 0:04:42.720 Vice President Harris has received some major support from Silicon Valley. 0:04:42.880 --> 0:04:44.880 Bloomberg's Ed Baxter has that story. 0:04:45.720 --> 0:04:49.000 A group of about twelve hundred technology workers has pledged 0:04:49.160 --> 0:04:52.880 to back her ticket Tech for Kamala, in a public letter, 0:04:52.960 --> 0:04:57.160 calling Harris an archetypical innovator and champion of technology who 0:04:57.279 --> 0:05:02.560 worked to access STEM education, remote entrepreneurship, and close the 0:05:02.600 --> 0:05:05.880 digital equity gap. People who signed the letter did so 0:05:05.920 --> 0:05:10.120 on personal capacities, not representing companies, but they come from 0:05:10.120 --> 0:05:14.520 companies including Apple, Meta, and Salesforce. It says it wants 0:05:14.560 --> 0:05:18.720 to mobilize the community of over seven million workers in 0:05:18.760 --> 0:05:21.119 San Francisco, add Baxter, Bloomberg Radio. 0:05:21.240 --> 0:05:23.240 Thank you, ed Now to the latest from the Middle East. 0:05:23.279 --> 0:05:25.920 The US, Katar and Egypt are calling for a new 0:05:26.000 --> 0:05:28.960 round of ceasefire talks to be held August fifteenth. It 0:05:29.040 --> 0:05:31.400 would be the latest attempt by the Biden administration to 0:05:31.560 --> 0:05:34.279 end the war in Gaza as the Middle East braces 0:05:34.279 --> 0:05:38.800 for an expected Iranian attack on Israel. Bloomberg's Rosalind Mathieson says, 0:05:38.839 --> 0:05:41.040 negotiations have been in the works for a while. 0:05:41.600 --> 0:05:43.640 This has been, as you know, these very long running 0:05:43.680 --> 0:05:47.440 discussions around how to get a ceasefire for Gaza and 0:05:47.480 --> 0:05:50.560 to stop the war at least for now between Israel 0:05:50.640 --> 0:05:53.000 and Hamas, and all these efforts to be going on 0:05:53.279 --> 0:05:56.320 around the clock for months from the US, Katar in 0:05:56.360 --> 0:06:00.000 Egypt and others to try and get everybody over the line. 0:06:00.200 --> 0:06:03.360 But the sticking point that really remains is that what 0:06:03.480 --> 0:06:05.920 is this ceaspar going to be a pathway too. 0:06:05.880 --> 0:06:09.880 Bloomberg's Ros Matheson says. Israeli Prime Minister Netanyahu's office posted 0:06:09.880 --> 0:06:12.400 on x that Israel will send a delegation to the 0:06:12.440 --> 0:06:16.159 planned discussions. There's no immediate comment from Hamas. 0:06:19.279 --> 0:06:20.600 And it's time now for a look at some of 0:06:20.600 --> 0:06:23.160 the other stories making news in New York and around 0:06:23.160 --> 0:06:25.960 the world. And for that we're joined by Bloomberg's John Tucker. John, 0:06:25.960 --> 0:06:27.559 Good morning, Yeah, Good morning, Karen. 0:06:27.640 --> 0:06:30.200 Bring an umbrella to work today and hold on tight. 0:06:30.400 --> 0:06:32.800 The remnants of Debbie will be with us soon. Rob 0:06:32.839 --> 0:06:35.080 carolind is tracking the storm for us this morning. 0:06:35.720 --> 0:06:35.960 John. 0:06:35.960 --> 0:06:37.960 The remnants of Debbie pass well to the west of 0:06:38.000 --> 0:06:39.840 the Tristate area. That means we miss out on the 0:06:39.880 --> 0:06:41.920 heavy rain, but we will see some gusty winds. That's 0:06:41.920 --> 0:06:43.880 why the National Weather Service has the region under a 0:06:43.920 --> 0:06:47.279 wind advisory from noon today till over eleven pm tonight. 0:06:47.360 --> 0:06:49.560 Could see some gusts up over thirty five miles nowur 0:06:49.600 --> 0:06:51.800 in some of the thunderstorms associated with the east side 0:06:51.800 --> 0:06:54.200 of what was Debbie. There will be some heavy downpours 0:06:54.200 --> 0:06:58.640 from time to time. John Bloomberg meteorologist Rob Carolyn. Police 0:06:58.680 --> 0:07:01.360 in Vienna this morning and seeing a third teenager has 0:07:01.360 --> 0:07:03.880 been arrested in connection with a foiled attack on now 0:07:03.960 --> 0:07:07.279 canceled Taylor Swift concerts. The eighteen year old was taken 0:07:07.320 --> 0:07:11.200 into custody and were allegedly being contact with the main suspect. 0:07:11.520 --> 0:07:15.280 Investigators found bomb making materials at one of the suspects homes. 0:07:15.560 --> 0:07:16.720 Officials say a. 0:07:16.680 --> 0:07:19.640 Suspect has confessed to planning to kill as many people 0:07:19.720 --> 0:07:24.240 as possible outside the concert venue in Vienna. After two 0:07:24.400 --> 0:07:28.440 lackluster years, Wall Street bonuses they're poised to jump in 0:07:28.520 --> 0:07:32.000 virtually every sector of the industry. Let's get details from 0:07:32.000 --> 0:07:33.280 Bloomberg's Charlie Pellett. 0:07:33.920 --> 0:07:37.200 Debt underwriting is likely to be the biggest winner. According 0:07:37.200 --> 0:07:41.680 to a report from compensation consultant Johnson Associates, Bankers who 0:07:41.760 --> 0:07:44.960 help companies sell debt may see payouts well as much 0:07:44.960 --> 0:07:48.680 as thirty five percent as deals pick up and capital 0:07:48.760 --> 0:07:53.160 markets rebound from multi year lows. The forecast follows strong 0:07:53.280 --> 0:07:57.920 second quarter performances from American and European banks after rising 0:07:58.000 --> 0:08:00.960 stock prices around the world, fuel demands and on trading 0:08:01.000 --> 0:08:04.320 desks in New York. Charlie Pellett Bloomberg. 0:08:03.960 --> 0:08:06.920 Radio freed last week in the largest East West prisoner 0:08:07.000 --> 0:08:09.880 swap since the Cold War. Seventy one year old egg 0:08:10.000 --> 0:08:13.560 Orloff is speaking out and describing wide scale repression in 0:08:13.640 --> 0:08:16.920 Russia under Vladimir Putin. He tells the AP people are 0:08:16.920 --> 0:08:20.800 in prison for merely criticizing authorities, something unseen since the 0:08:20.880 --> 0:08:24.600 days of Dictator Joseph Stalin Global News twenty four hours 0:08:24.640 --> 0:08:26.840 a day, whenever you want it with Bloomberg News. Now, 0:08:27.120 --> 0:08:30.720 I'm John Tucker. This is Bloomberg Nathan and. 0:08:30.600 --> 0:08:37.599 Karen ll Right, John, thank you time out for the 0:08:37.600 --> 0:08:40.480 Bloomberg score something but John stash hour, John, Good. 0:08:40.280 --> 0:08:42.200 Morning, Good morning, Karen. A lot of people calling it 0:08:42.200 --> 0:08:47.199 the most exciting game in Olympic basketball history, semifinals against Serbia, 0:08:47.320 --> 0:08:50.160 who the US had blown out twice previously. This time, 0:08:50.200 --> 0:08:53.920 the US found itself down by seventeen, by thirteen entering 0:08:53.960 --> 0:08:56.200 in the fourth quarter of a furious rally and a 0:08:56.280 --> 0:08:59.240 ninety five to ninety one US victory. Plenty of heroes done, 0:08:59.280 --> 0:09:02.679 more so than Sef Curry, who poured in thirty six points. 0:09:02.679 --> 0:09:05.440 His coach, both in the NBA and the Olympics is 0:09:05.480 --> 0:09:06.160 Steve Kerr. 0:09:06.480 --> 0:09:10.439 It's impossible to rank Steph's performances because there have been 0:09:10.480 --> 0:09:12.679 so many of them, so many big games. 0:09:13.240 --> 0:09:14.839 But it's different. 0:09:14.600 --> 0:09:18.320 Playing for USA Basketball than it is playing for your 0:09:18.400 --> 0:09:21.520 NBA team. You know, you're literally playing for your country, 0:09:21.679 --> 0:09:26.079 and so it didn't surprise me at all that Steph 0:09:26.240 --> 0:09:27.360 had the game that he did. 0:09:27.520 --> 0:09:30.200 So it's the US against France tomorrow for the gold. 0:09:30.200 --> 0:09:31.880 As it was three years ago, this time the French 0:09:31.920 --> 0:09:34.679 will have home court advantage. Noah Lyles did not win 0:09:34.720 --> 0:09:36.800 the gold medal in the two hundred meters, settled for bronze, 0:09:36.840 --> 0:09:39.839 and then came a bigger surprise. He has COVID. He's 0:09:39.840 --> 0:09:42.720 added since Tuesday was allowed to run. The gold won 0:09:42.720 --> 0:09:46.240 by Letsial Tobogo from Botswana. There were three US gold 0:09:46.280 --> 0:09:48.920 medals in track and field. Grand Holloway the one hundred 0:09:48.920 --> 0:09:51.760 and ten meter hurdle. Sidney McLachlin Levarn won her second 0:09:51.800 --> 0:09:54.520 straight goal in the four hundred meter hurdles. Tara Davis 0:09:54.520 --> 0:09:57.520 Woodhall the women's long jump. Yankees in the rain in 0:09:57.559 --> 0:09:59.960 the Bronx lost to the Angels nine to four, LA 0:10:00.520 --> 0:10:03.320 with a six run fifth INNY, knocking out Nester Cortez, 0:10:03.320 --> 0:10:06.880 who suffered his tenth loss. Yankees are twenty over five hundred, 0:10:06.880 --> 0:10:09.280 but at home only thirty and twenty six, still time 0:10:09.320 --> 0:10:12.280 for first with Baltimore, who lost in Toronto, Me's one 0:10:12.360 --> 0:10:14.720 nine to one at Colorado pe A Lonzo Homer twice. 0:10:14.880 --> 0:10:17.360 Mets move ahead of Atlanta in both the NL East 0:10:17.400 --> 0:10:20.719 and for the third NL wildcard preseason football on a 0:10:20.800 --> 0:10:23.400 rainy night at Medlife. The Giants got two second quarter 0:10:23.480 --> 0:10:25.720 touchdowns from Eric Ray. The first one was a forty 0:10:25.720 --> 0:10:28.040 eight yard run. They beat the Lions fourteen to three. 0:10:28.200 --> 0:10:30.800 Hall of Fame golfer Chichi Rodriguez has passed away at 0:10:30.840 --> 0:10:31.320 eighty eight. 0:10:31.640 --> 0:10:33.680 John stashawerre Bloomberg Sports Down. 0:10:33.559 --> 0:10:34.120 And Nathan. 0:10:36.320 --> 0:10:40.480 Coast to Coast on Bloomberg Radio nationwide on Sirius XM, 0:10:40.559 --> 0:10:43.480 and around the world on Bloomberg dot Com and the 0:10:43.480 --> 0:10:48.360 Bloomberg Business app. This is Bloomberg Daybreak. Good morning. I'm 0:10:48.440 --> 0:10:49.120 Nathan Hager. 0:10:49.520 --> 0:10:53.280 Former President Donald Trump is looking to reclaim the momentum 0:10:53.320 --> 0:10:55.720 in the twenty twenty four presidential race. 0:10:56.200 --> 0:10:59.040 Our country is right now in the most dangerous position 0:11:00.360 --> 0:11:04.040 it's ever been in, from an economic standpoint, from a 0:11:04.080 --> 0:11:05.760 safety standpoint. 0:11:05.360 --> 0:11:07.800 And in an hour long news conference from his mar 0:11:07.800 --> 0:11:11.480 A Lago resort, the Republican presidential nominee challenged his new 0:11:11.559 --> 0:11:16.040 Democratic opponent, Vice President Kamala Harris, to three debates next month, 0:11:16.520 --> 0:11:19.120 after earlier suggesting he didn't see a need for them 0:11:19.120 --> 0:11:22.040 to do any debates at all. Joining us for more. 0:11:22.280 --> 0:11:25.880 Jennifer Lawless, professor and chair of the Politics Department at 0:11:25.920 --> 0:11:29.400 the University of Virginia. Jennifer, good morning. So we've gone 0:11:29.440 --> 0:11:32.280 from zero to three from the former president when it 0:11:32.320 --> 0:11:34.440 comes to debates. What do you make of this whipsaw 0:11:34.480 --> 0:11:38.560 from the former president and his attempt to reclaim the 0:11:38.559 --> 0:11:41.560 spotlight from mar A Laco, good morning. 0:11:41.800 --> 0:11:45.240 I think it demonstrates that he feels far more vulnerable 0:11:45.320 --> 0:11:49.120 now running against Kamalin Harris than he did against Joe Biden. 0:11:49.600 --> 0:11:53.280 And he also realizes that she's gaining momentum and he 0:11:53.320 --> 0:11:56.480 can't duck the debates. If he's going to win this race, 0:11:56.559 --> 0:11:58.720 it has to be a real contest and people have 0:11:58.760 --> 0:12:01.160 to hear from him going to be an automatic win. 0:12:01.760 --> 0:12:06.199 We've seen the enthusiasm on the Democratic side, the kinds 0:12:06.240 --> 0:12:08.680 of rallies that we used to see for former President 0:12:08.679 --> 0:12:12.280 Trump with Vice President Harris filling stadiums. Now, is this 0:12:12.440 --> 0:12:14.440 just a sugar rush or is this where the momentum 0:12:14.480 --> 0:12:14.839 is going. 0:12:16.320 --> 0:12:18.600 It might have started out as a sugar rush, but 0:12:18.600 --> 0:12:22.960 it seems like it's now a substantively excited electorate. And 0:12:23.320 --> 0:12:25.480 the thing that Harris has going for her is she 0:12:25.520 --> 0:12:28.079 only needs to keep this up for ninety days. This 0:12:28.120 --> 0:12:30.680 is not a fifteen or sixteen month campaign where she 0:12:30.720 --> 0:12:33.800 needs to sustain the excitement. So if I were Donald 0:12:33.800 --> 0:12:36.520 Trump right now, I would also be nervous because the 0:12:36.520 --> 0:12:40.320 Democrats had been pretty lackluster for several months, and now 0:12:40.360 --> 0:12:42.559 the excitement is certainly on their side now. 0:12:42.559 --> 0:12:46.560 The former president did criticize Vice President Harris during that 0:12:46.679 --> 0:12:51.040 news conference for not doing very many interviews herself, not 0:12:51.080 --> 0:12:55.000 of hearing at any news conferences since she announced her campaign. 0:12:55.200 --> 0:12:57.880 Is there a risk there for Vice President Harris to 0:12:57.960 --> 0:12:59.960 be perceived as ducking the media. 0:13:00.080 --> 0:13:02.160 I think if she continues this way, there's a risk. 0:13:02.240 --> 0:13:04.040 But it's only been a couple of weeks, and it's 0:13:04.080 --> 0:13:07.280 actually only been a couple of days since she received 0:13:07.320 --> 0:13:10.920 the delegate support that she needed to become the presumptive nominee. 0:13:11.040 --> 0:13:12.880 So my sense is that over the course of the 0:13:12.880 --> 0:13:15.520 next ninety days, she will engage with the media, she 0:13:15.559 --> 0:13:18.559 will do these interviews, but right now she's introducing herself 0:13:18.559 --> 0:13:20.160 and her running mates to the American people. 0:13:20.480 --> 0:13:23.200 And Vice President Harris does say that she looks forward 0:13:23.240 --> 0:13:27.480 to debating former President Trump on the encounter that he 0:13:27.520 --> 0:13:30.520 did agree to with President Biden on September tenth, but 0:13:30.640 --> 0:13:33.720 isn't going to appear with him on Fox before that? 0:13:33.880 --> 0:13:37.840 Should she agree to all three that the former president 0:13:37.880 --> 0:13:38.600 put out there. 0:13:38.720 --> 0:13:40.680 Of her to participate in three debates? 0:13:40.720 --> 0:13:43.120 But I don't think that she has to agree to 0:13:43.200 --> 0:13:44.680 the three that he put out there. 0:13:45.000 --> 0:13:46.560 She's running just like he is. 0:13:46.679 --> 0:13:50.640 She has say an agency over which networks she debates on, 0:13:50.880 --> 0:13:54.480 what the rules are. And frankly, Fox News has been 0:13:54.720 --> 0:13:56.280 denying the twenty twenty election. 0:13:56.640 --> 0:13:57.880 They've been fined for it. 0:13:57.960 --> 0:14:01.200 I can see why Kamala Harrison Demok in general would 0:14:01.240 --> 0:14:03.720 be very reluctant to use them as a venue. 0:14:03.920 --> 0:14:06.160 So do you think that they actually are going to 0:14:06.240 --> 0:14:09.120 debate if Harris does not agree to the Fox debate, 0:14:09.200 --> 0:14:12.160 that they will at least have that one encounter or 0:14:12.240 --> 0:14:13.079 more beyond that. 0:14:13.720 --> 0:14:14.080 I do. 0:14:14.200 --> 0:14:16.800 I think that the September tenth ABC debate is now 0:14:16.840 --> 0:14:17.600 basically said. 0:14:17.600 --> 0:14:19.160 They've both agreed to those terms. 0:14:19.320 --> 0:14:22.880 Donald Trump already backed out once and then went against 0:14:22.920 --> 0:14:25.360 what he said and joined the debate again. If he 0:14:25.440 --> 0:14:27.840 backs out again, it'll just look too wishy washy. I 0:14:27.840 --> 0:14:28.840 can't imagine that he's. 0:14:28.760 --> 0:14:29.880 Going to do that now. 0:14:29.880 --> 0:14:32.160 We just got word this morning from the White House 0:14:32.160 --> 0:14:35.560 moments ago, in fact, that President Biden is going to 0:14:35.800 --> 0:14:39.200 join Vice President Harris on the campaign trail for the 0:14:39.240 --> 0:14:42.600 first time since he ended his bid last month. What 0:14:42.640 --> 0:14:46.680 can we expect from the president now to share a 0:14:46.720 --> 0:14:49.400 stage with his vice president for the first time since 0:14:49.440 --> 0:14:51.720 she started her campaign now nearly three weeks ago. 0:14:52.120 --> 0:14:55.760 I think it sends a really important message about democratic unity. 0:14:56.200 --> 0:15:00.600 It'll also highlight that he has completely supported her in 0:15:00.640 --> 0:15:04.320 this move. Donald Trump yesterday during the press conference, tried 0:15:04.360 --> 0:15:07.000 to suggest that Joe Biden was pushed out, that Kamala 0:15:07.040 --> 0:15:09.520 Harris had something to do about it, that he's very angry, 0:15:09.880 --> 0:15:12.760 and by appearing on the campaign trail with Harris, Biden 0:15:12.840 --> 0:15:14.520 is going to put all of those rumors to rest. 0:15:14.920 --> 0:15:17.040 So in our last minute here, professor, what are you 0:15:17.120 --> 0:15:21.680 expecting as we get closer to the Democratic Convention and 0:15:21.960 --> 0:15:24.320 potentially these debates next month. 0:15:25.040 --> 0:15:27.400 Well, for Donald Trump, the goal is going to be 0:15:27.480 --> 0:15:30.760 to paint Kamala Harris and Tim Walls as completely out 0:15:30.760 --> 0:15:34.200 of touch as radical extremists from the liberal left. He 0:15:34.320 --> 0:15:37.320 tried a lot of that messaging yesterday at the press conference. 0:15:37.480 --> 0:15:39.680 I think we'll see a major focus on immigration and 0:15:39.720 --> 0:15:42.760 crime and what the Harris campaign has going to emphasize 0:15:42.760 --> 0:15:44.280 for the next ninety days for. 0:15:44.400 --> 0:15:45.480 Freedom and the future. 0:15:45.760 --> 0:15:48.120 The decision is going to be very, very clear to 0:15:48.200 --> 0:15:50.280 the American public. It's just going to be about which 0:15:50.320 --> 0:15:53.240 side is able to mobilize its base more and right 0:15:53.240 --> 0:15:55.480 now the Democrats look like they have that momentum on 0:15:55.520 --> 0:15:56.000 their side. 0:15:56.080 --> 0:15:58.960 This is Bloomberg day Break Today, your morning brief on 0:15:59.040 --> 0:16:01.840 the story's making new us from Wall Street to Washington 0:16:01.880 --> 0:16:02.560 and beyond. 0:16:02.840 --> 0:16:05.600 Look for us on your podcast feed at six am 0:16:05.680 --> 0:16:09.360 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:09.400 --> 0:16:10.560 get your podcasts. 0:16:10.680 --> 0:16:13.400 You can also listen live each morning starting at five 0:16:13.440 --> 0:16:16.080 am Wall Street time on Bloomberg eleven three to zero 0:16:16.080 --> 0:16:19.000 in New York, Bloomberg ninety nine to one in Washington, 0:16:19.040 --> 0:16:21.920 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:22.000 --> 0:16:23.680 nine sixty in San Francisco. 0:16:24.040 --> 0:16:27.200 Our flagship New York station is also available on your 0:16:27.240 --> 0:16:32.680 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:32.720 --> 0:16:36.280 Listen coast to coast on the Bloomberg Business app, seriusxmb 0:16:36.440 --> 0:16:40.520 iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:40.280 --> 0:16:43.400 And I'm Karen Moscow. Join us again tomorrow morning for 0:16:43.560 --> 0:16:46.080 all the news you need to start your day right 0:16:46.080 --> 0:17:00.960 here on Bloomberg Daybreak and