July 18, 2024 • 17 mins
On today's podcast:
1) JD Vance Calls Out Wall Street as he Accepts the Republican Nomination for Vice President
2) President Biden Comes Down with COVID as Top Democrats Ask him to Step Aside
3) A Fed Governor Says Rate Cuts Could Soon Come
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and.
Speaker 1 (00:11):
I'm Karen Moscow. Here are the stories we're following today.
Speaker 3 (00:14):
Karen, we begin with nine three of the Republican National Convention,
where Donald Trump's vice presidential nominee J. D. Vance was
introduced to the nation.
Speaker 4 (00:23):
I'm overwhelmed with gratitude to say I officially accept your
nomination to be vice president of the United States of America.
Speaker 3 (00:31):
And in his acceptance speech, the Ohio Senator drew on
his rural roots, blaming President Biden and past administrations for
leaving working class voters behind.
Speaker 4 (00:41):
Thanks to these policies that Biden and other out of
touch politicians in Washington gave us, our country was flooded
with cheap Chinese goods, with cheap foreign labor, and in
the decades to come, deadly Chinese finanol. Joe Biden screwed up,
and my community paid the price.
Speaker 3 (01:00):
And then JD. Vance went after the business community.
Speaker 4 (01:04):
We're done ladies and gentlemen catering to Wall Street. We'll
commit to the workingman. We're done importing foreign labor. We're
going to fight for American citizens and their good jobs
and they're good wages.
Speaker 3 (01:16):
The vice presidential nominee JD. Vance added the GOP is
done sacrificing supply chains to global trade and is committed
to manufacturing products in the US. The Biden campaign responded
to Vance's speech by calling him unprepared, unqualified, and willing
to do anything to meet Donald Trump's demands.
Speaker 1 (01:33):
Well, Nathan, Donald Trump will speak tonight and formally accept
the Republican presidential nomination for a third time. It'll be
his first speech since the assassination attempt last weekend. The
Trump campaign says the former president changed his address after
the attempt on his life to make it more unifying.
Follow Bloomberg for a live coverage of former President Donald
Trump's acceptance speech on the final night their Republican National
(01:56):
Convention on Bloomberg's Balance of Power with Joe Matthew and
k Lies. Complete team coverage begins at eight pm Wall
Street Time on Bloomberg Radio and television.
Speaker 3 (02:05):
On the Democratic side, Karen President Biden continues to face
questions about his ability to serve. In an interview with Beet,
the President said he is willing to relinquish power to
Vice President Kamala Harris. In a second term under one scenario, some.
Speaker 5 (02:19):
Medical condition that emerged.
Speaker 3 (02:21):
If somebody doctors came to me said you got this problem.
Speaker 6 (02:23):
That problem now.
Speaker 3 (02:24):
Those comments from President Biden came before the White House
announced he's tested positive for COVID. The White House says
his symptoms are mild, and the President is isolating at
his home in Delaware.
Speaker 1 (02:34):
Will the President deals with COVID Nathan. He's also facing
intensifying pressure within his own party to step aside from
the race. Prominent House Democrat Adam Schiff of California released
a statement of the Los Angeles Times that Biden should
let another candidate run over the weekend, Schiff was caught
at a fundraiser saying the President needed to pass the torch.
Speaker 7 (02:55):
I do not think he is the.
Speaker 5 (02:56):
Best person who should go into the selection. I think
if he has our comedy, I think we lose.
Speaker 1 (03:02):
Congressman Adam Schiff says he's concerned Biden's candidacy could affect
other Democrats down ballot.
Speaker 3 (03:08):
And Karen Congressman. Shift is a close ally to former
House Speaker Nancy Pelosi, and according to CNN, Pelosi has
told the president privately the polling shows he cannot defeat
Donald Trump and could destroy Democrats' chances of winning the
House in November. ABC News is reporting Senate Majority leader
Chuck Schumer told the President last week it would be
best if he ended his reelection bid Well Nathan.
Speaker 1 (03:30):
Senate leader Schumer is also calling on New Jersey Senator
Bob Menendez to resign after his conviction on bribery and
foreign agent charges. NBC News has reported that Menendez told
allies he intends to resign, but the senator told CBS
New York that he has not resigned nor has he
spoken to quote so called allies. A Dray convicted Menendez
(03:52):
on sixteen counts this week after a two month trial.
Speaker 3 (03:55):
Senate Minarti leader Mitch McConnell is calling for new leadership
Karen at the sequet Its service comes after the assassination
attempt on former President Trump. Bloomberg's Amy Morris has the
details on that from Washington.
Speaker 8 (04:08):
Senator Mitch McConnell posted on x that the shooting was,
in his words, a grave attack on American democracy and
that new leadership at the Secret Service would be an
important step. House Committee on Oversight and Accountability Chairman James
Comer has subpoenaed Secret Service Director Kimberly Cheedle to appear
at a hearing on Monday. Lawmakers say they'll hold a
bipartisan probe focused on the Secret Service, and President Biden
(04:32):
ordered an independent probe. The Homelands Inspector General also opened
its own investigation in Washington. Amy Morris Bloomberg Radio.
Speaker 1 (04:40):
All right, Amy, thank you if you want to turn to
markets now and NASDAK futures are higher, with shipmaker Taiwan
Semiconductor restoring sentiment in tech. If follow is the worst
day for the Nasdaq one hundred since twenty twenty two.
Traders were spooked over concerns about tidy US restrictions on
chip sales to China. But TSMC reported earning said beat
and less estimates and raise projections for full year revenue
(05:03):
growth and a show of confidence in the artificial intelligence boom.
Speaker 3 (05:06):
As for the broader economy, Karen traders are getting bullish
about a September rate cut after comments from Fed Governor
Christopher Waller. He told an audience in Kansas that the
US can tame inflation without dipping into a recession.
Speaker 9 (05:20):
I believe the current data are consistent with achieving of
soft landing, and I'll be looking for data over the
next couple of months to buttress that view. So while
I don't believe we've reached our final destination, I do
believe we are getting closer to the time when a
cut in the policy rate is warranted.
Speaker 3 (05:38):
FED Governor Chris Waller's comments echo those of other policymakers
who are broadly optimistic about inflation but waiting for more
positive data in the coming weeks.
Speaker 1 (05:47):
All rights, they're also in focus over season aathan with
a decision from the European Central Bank this morning. Bloomberg's
Lizzie Burdens as a cut today is unlikely, but ECB
President Christine Leguard could hint at a move in September.
Speaker 10 (06:01):
Markets and economists expect the European Central Bank to keep
interest rates on hold at its July meeting today, though
traders will listen closely for clues as to whether a
September move is coming. Even the hawkish end of the
Governing Council has said market pricing for two more moves
this year looks reasonable, but President Christine Legard is unlikely
(06:22):
to want to box herself in on timing, so we'll
probably reiterate that the Central Bank is data dependent. A
key question is whether she reintroduces the ECB's easing bias
in Frankfurt. Lizzie Bird and Bloomberg Radio.
Speaker 3 (06:37):
All right, Lizzie, thank you. Finally make no bones about
this one. Citadel founder Ken Griffin paid Southeby's forty four
point six million dollars for a near complete Stegosaurus fossil
at auction, one hundred and fifty million year old dinosaur
nicknamed Apex. Griffin plans to put it on display the museum.
His bid marks a record sum for a fossil sold
(06:58):
at auction, even going to the Jurassic era.
Speaker 1 (07:04):
Time now for a look at some of the other
stories making news in New York and around the world.
For that, we're joined by Bloomberg's Michael Barr Michael, Good morning.
Speaker 7 (07:11):
Good morning, Karen. For the second straight week, communities and
upstate New York have been slammed by severe storms and tornadoes.
Dozens of buildings have been destroyed and nine tornadoes confirmed
near Syracuse and Rochester in Rome, New York Governor Kathy
Okel said tens of thousands of customers in the affected
areas are still without power.
Speaker 11 (07:32):
This is an urgent situation. When the heat is as
hot as it is right now, people need their power
back on, So we are focused intensely on making sure
that happens as soon as humanly possible.
Speaker 7 (07:44):
At least one person dined in the storms. Wall Street
Journal reporter Evan Gerskovich has appeared in court in Russia
for the second hearing in his trial on espionage charges. Gerskevich,
his employer, and the US government vehemently deny the charge
against him. Kriskevich was accused by the Russian Prosecutor General's
office of gathering secret information on orders from the CIA
(08:08):
about a plant that produces and repairs tanks and other
military equipment. The journalist was detained while on a reporting
trip in March of twenty twenty three. The US Navy
has exonerated more than two hundred and fifty black sailors
found to be unjustly punished in nineteen forty four following
a California port explosion that killed hundreds of service members.
(08:29):
The blast killed three hundred twenty sailors and civilians, nearly
seventy five percent of whom were black, and injured another
four hundred personnel Navy Secretary Carlos del Toro.
Speaker 9 (08:40):
This decision clears their names, restores their honor, and acknowledges
the courage they displayed in the face of immense danger.
Speaker 7 (08:49):
The punishments kept them from receiving honorable discharges. Fifty sailors
who held their demands for safety and training were tried
as a group on charges of conspiracy to commit mutiny.
They were convicted and sent to prison. Researchers studying tens
of thousands of patients found that people who have irregular
sleep patterns, say five hours of sleep one night, ten
(09:11):
hours of sleep the next night, have a more than
thirty percent higher risk of developing type two diabetes. Doctor
Cina Keance is with Brigham and Women's Hospital in Boston.
Speaker 4 (09:23):
Our finis have the potential to improve diabetes prevention on
multiple levels.
Speaker 1 (09:28):
Clinically, they might inform better patient care and treatment plans.
Speaker 7 (09:33):
Doctor Kennercy says. The study was on patients in the
United Kingdom. Global News twenty four hours a day and
whenever you want it with Bloomberg News. Now, Michael Barr,
this is Bloomberg.
Speaker 1 (09:42):
Heret all right, Michael Barr, thank you. Time now to
the Bloomberg Sports Update with John stash Hour. John, good morning, Good.
Speaker 6 (09:53):
Morning care and it's a difficult, cloudy bristday in Scotland.
The players are bundled up for the start of the
Open Championship in fifty second edition, tenth time. It's being
held at Royal Trooon and early on Justin Thomas, Matt Wallace,
Young Hans Song share the lead three under part is
the last major of the year. Vice at the Champeau
has so far finished sixth at the Masters, second at
(10:14):
the PGA, and last month he won the US Open.
The Champeau was just teed off. Rory McElroy is about
to and later this morning. World number one Scottie Scheffler
excited to be playing Lenke Skulf.
Speaker 12 (10:24):
I just feel like you have to be more creative here,
and you know, I love that part of it. I
feel like when I do come over here, this is
really kind of how golf was intended to be played.
I feel like there's a lot more opportunity for shot
making and being creative around the greens.
Speaker 6 (10:38):
Jeff has already won six tournaments this year. He's trying
to be just the fourth since nineteen eighty to win
the Masters, and they Open the same year. He's the
first is Tiger Woods in twenty thirteen to be the
betting favorite going into all four majors. London the next
up for the US Olympic basketball team. They'll play exhibition
games there on Saturday and Monday, then a week from
Sunday it's the opener in Paris against Serbia, who the
(10:59):
US just be easily one oh five to seventy nine.
Steph Curry scored twenty four points. Caitlin Clark has often
been compared to Curry, and last night she did something
no WNBA player has ever done before. Clark had nineteen assists.
She just scored twenty four points. Although Indiana loss to
the last place Dallas, Pat Williams has passed away at
(11:19):
eighty four. Longtime NBA exec with Philadelphia and then Orlando,
represented the Magic three times when they won the draft lottery,
landing them Shaquille O'Neal, Penny Hardaway, and Dwight Howard. Williams
also wrote over one hundred books, ran fifty eight marathons,
and he and his wife had nineteen children, fourteen of
them adopted from foreign countries. John Stasherwick Bloomberg Sports Karenia.
Speaker 5 (11:44):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak. Good Morning on
Nathan Hager. It is a tale of two campaigns.
Speaker 3 (11:58):
As the Republican National Convention heads to its conclusion tonight,
Donald Trump is set to accept his party's nomination for
a third time after surviving an assassination attempt and cementing
his populist hold on the Republican Party, while President Biden
finds himself sidelined by COVID and under fast growing pressure
to bow out of the race. Joining us for more
Bloomberg Breaking News, Managing Editor Derek Wallbank, Derek, good morning.
(12:21):
Let's start with the convention. What are your takeaways from
what we saw from JD. Vance last night, his acceptance
speech as running mate and this populist message that you
know he's solidifying for former President Trump.
Speaker 13 (12:34):
Well, Nathan, I think that JD. Vance is somebody who
has been a staunch ally of Donald Trump. Remember, you know,
he's the sort of person who was running in a
very crowded primary field when he wanted to be a
senator from Ohio. Trump picked him to be endorsed. He
goes on, gets that nomination, gets the win, gets into
(12:55):
the Senate, becomes one of Donald Trump's most fervent supporters,
and eventually now rewarded with the VP nomination. But Vance
hasn't been in the political scene for all that long.
So this was a chance for JD. Vance to introduce
himself to the public writ large, and he went with
a very biography heavy introduction. You know, a guy who
(13:19):
first came to prominence from having written his own biography.
He'll bili elogy, you know, talking about his experiences and
you know that you know the sort of appellation, you know,
how did everybody lose, the lose the working person, you know,
things of that nature, and he sort of tried to
(13:39):
tie that into Trump's appeal. One of the things I
saw from Vance and from other speakers. Marco Rubio was
one who really did this was they were trying to
sort of verbally set up a permission structure for people
who may not have liked Trump before but to come
on board with this. And you actually saw this a
little bit from Nicki Hayley the other day as well.
(14:01):
Right set up a pathway for people who have not
been there for Trump, who are sitting there don't really
like the idea of Biden either, have serious reservations about
the president right now to vote for the former president instead.
So that was kind of rhetorically where he was going.
I think, you know, the most memorable parts of it though,
was when he was talking about his take no Prisoner's mamma,
(14:25):
his grandmother who helped raise him, and then when he
spotlighted his own mother, who struggled with substance abuse and
has been clean now on about ten years. Those were very,
very popular moments at the convention among the attendees there.
We'll see how it all resonates among the general public
when we get some post convention polls. But this was JD.
(14:48):
Vance's moment to make a name for himself.
Speaker 3 (14:52):
And Donald Trump's moment comes tonight. I mean, this really
could be another one of those so called moments, his
first speech after getting great by a bullet last weekend.
Speaker 13 (15:01):
Derek. Yeah. Now, Trump has made appearances, you know, each
night of the convention, but this is the first time
that we're going to get to hear from him. This
is somebody who, look, you know, whether you like him
or you don't like him. As somebody who has a
reputation well earned for showmanship, former television host, you should
(15:21):
expect the stage management of this to be nailed down,
right And again, as I say, Nathan, you know Trump,
the nation has had four years of Donald Trump as president.
If you like him or if you don't like him,
you know what you're getting, right, Like, there's there's nobody
in the United States who don't know who Donald J.
Trump is. But this is also a guy who, for
(15:44):
the first time really in his electoral history, finds himself
as a general election favorite.
Speaker 7 (15:51):
Right.
Speaker 13 (15:51):
He never was against Hillary Clinton. She was favored the
entire way according to poles and analysts and things like that.
Trump now is is in a situation where the betting
markets are saying that he's likely to win. You're seeing
movements and all of that, and so this is a
different position for him. He's also come off of a
you know, a time when he was literally shot in
the air giving a speech. You know, we're in uncharted
(16:14):
moments here for Donald Trump. I think there's gonna be
a lot of interest in how he handles this.
Speaker 2 (16:20):
This is Bloomberg day Break today, your morning brief on
the stories making news from Wall Street to Washington and beyond.
Speaker 1 (16:26):
Look for us on your podcast feed at six am
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Speaker 2 (16:34):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 1 (16:48):
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Speaker 2 (16:56):
Listen coast to coast on the Bloomberg Business app serious X,
I'm the iHeartRadio app, and on Bloomberg dot Com. I'm
Nathan Hager and I'm Karen Moscow.
Speaker 1 (17:05):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Daybreak
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and.
Speaker 1 (00:11):
I'm Karen Moscow. Here are the stories we're following today.
Speaker 3 (00:14):
Karen, we begin with nine three of the Republican National Convention,
where Donald Trump's vice presidential nominee J. D. Vance was
introduced to the nation.
Speaker 4 (00:23):
I'm overwhelmed with gratitude to say I officially accept your
nomination to be vice president of the United States of America.
Speaker 3 (00:31):
And in his acceptance speech, the Ohio Senator drew on
his rural roots, blaming President Biden and past administrations for
leaving working class voters behind.
Speaker 4 (00:41):
Thanks to these policies that Biden and other out of
touch politicians in Washington gave us, our country was flooded
with cheap Chinese goods, with cheap foreign labor, and in
the decades to come, deadly Chinese finanol. Joe Biden screwed up,
and my community paid the price.
Speaker 3 (01:00):
And then JD. Vance went after the business community.
Speaker 4 (01:04):
We're done ladies and gentlemen catering to Wall Street. We'll
commit to the workingman. We're done importing foreign labor. We're
going to fight for American citizens and their good jobs
and they're good wages.
Speaker 3 (01:16):
The vice presidential nominee JD. Vance added the GOP is
done sacrificing supply chains to global trade and is committed
to manufacturing products in the US. The Biden campaign responded
to Vance's speech by calling him unprepared, unqualified, and willing
to do anything to meet Donald Trump's demands.
Speaker 1 (01:33):
Well, Nathan, Donald Trump will speak tonight and formally accept
the Republican presidential nomination for a third time. It'll be
his first speech since the assassination attempt last weekend. The
Trump campaign says the former president changed his address after
the attempt on his life to make it more unifying.
Follow Bloomberg for a live coverage of former President Donald
Trump's acceptance speech on the final night their Republican National
(01:56):
Convention on Bloomberg's Balance of Power with Joe Matthew and
k Lies. Complete team coverage begins at eight pm Wall
Street Time on Bloomberg Radio and television.
Speaker 3 (02:05):
On the Democratic side, Karen President Biden continues to face
questions about his ability to serve. In an interview with Beet,
the President said he is willing to relinquish power to
Vice President Kamala Harris. In a second term under one scenario, some.
Speaker 5 (02:19):
Medical condition that emerged.
Speaker 3 (02:21):
If somebody doctors came to me said you got this problem.
Speaker 6 (02:23):
That problem now.
Speaker 3 (02:24):
Those comments from President Biden came before the White House
announced he's tested positive for COVID. The White House says
his symptoms are mild, and the President is isolating at
his home in Delaware.
Speaker 1 (02:34):
Will the President deals with COVID Nathan. He's also facing
intensifying pressure within his own party to step aside from
the race. Prominent House Democrat Adam Schiff of California released
a statement of the Los Angeles Times that Biden should
let another candidate run over the weekend, Schiff was caught
at a fundraiser saying the President needed to pass the torch.
Speaker 7 (02:55):
I do not think he is the.
Speaker 5 (02:56):
Best person who should go into the selection. I think
if he has our comedy, I think we lose.
Speaker 1 (03:02):
Congressman Adam Schiff says he's concerned Biden's candidacy could affect
other Democrats down ballot.
Speaker 3 (03:08):
And Karen Congressman. Shift is a close ally to former
House Speaker Nancy Pelosi, and according to CNN, Pelosi has
told the president privately the polling shows he cannot defeat
Donald Trump and could destroy Democrats' chances of winning the
House in November. ABC News is reporting Senate Majority leader
Chuck Schumer told the President last week it would be
best if he ended his reelection bid Well Nathan.
Speaker 1 (03:30):
Senate leader Schumer is also calling on New Jersey Senator
Bob Menendez to resign after his conviction on bribery and
foreign agent charges. NBC News has reported that Menendez told
allies he intends to resign, but the senator told CBS
New York that he has not resigned nor has he
spoken to quote so called allies. A Dray convicted Menendez
(03:52):
on sixteen counts this week after a two month trial.
Speaker 3 (03:55):
Senate Minarti leader Mitch McConnell is calling for new leadership
Karen at the sequet Its service comes after the assassination
attempt on former President Trump. Bloomberg's Amy Morris has the
details on that from Washington.
Speaker 8 (04:08):
Senator Mitch McConnell posted on x that the shooting was,
in his words, a grave attack on American democracy and
that new leadership at the Secret Service would be an
important step. House Committee on Oversight and Accountability Chairman James
Comer has subpoenaed Secret Service Director Kimberly Cheedle to appear
at a hearing on Monday. Lawmakers say they'll hold a
bipartisan probe focused on the Secret Service, and President Biden
(04:32):
ordered an independent probe. The Homelands Inspector General also opened
its own investigation in Washington. Amy Morris Bloomberg Radio.
Speaker 1 (04:40):
All right, Amy, thank you if you want to turn to
markets now and NASDAK futures are higher, with shipmaker Taiwan
Semiconductor restoring sentiment in tech. If follow is the worst
day for the Nasdaq one hundred since twenty twenty two.
Traders were spooked over concerns about tidy US restrictions on
chip sales to China. But TSMC reported earning said beat
and less estimates and raise projections for full year revenue
(05:03):
growth and a show of confidence in the artificial intelligence boom.
Speaker 3 (05:06):
As for the broader economy, Karen traders are getting bullish
about a September rate cut after comments from Fed Governor
Christopher Waller. He told an audience in Kansas that the
US can tame inflation without dipping into a recession.
Speaker 9 (05:20):
I believe the current data are consistent with achieving of
soft landing, and I'll be looking for data over the
next couple of months to buttress that view. So while
I don't believe we've reached our final destination, I do
believe we are getting closer to the time when a
cut in the policy rate is warranted.
Speaker 3 (05:38):
FED Governor Chris Waller's comments echo those of other policymakers
who are broadly optimistic about inflation but waiting for more
positive data in the coming weeks.
Speaker 1 (05:47):
All rights, they're also in focus over season aathan with
a decision from the European Central Bank this morning. Bloomberg's
Lizzie Burdens as a cut today is unlikely, but ECB
President Christine Leguard could hint at a move in September.
Speaker 10 (06:01):
Markets and economists expect the European Central Bank to keep
interest rates on hold at its July meeting today, though
traders will listen closely for clues as to whether a
September move is coming. Even the hawkish end of the
Governing Council has said market pricing for two more moves
this year looks reasonable, but President Christine Legard is unlikely
(06:22):
to want to box herself in on timing, so we'll
probably reiterate that the Central Bank is data dependent. A
key question is whether she reintroduces the ECB's easing bias
in Frankfurt. Lizzie Bird and Bloomberg Radio.
Speaker 3 (06:37):
All right, Lizzie, thank you. Finally make no bones about
this one. Citadel founder Ken Griffin paid Southeby's forty four
point six million dollars for a near complete Stegosaurus fossil
at auction, one hundred and fifty million year old dinosaur
nicknamed Apex. Griffin plans to put it on display the museum.
His bid marks a record sum for a fossil sold
(06:58):
at auction, even going to the Jurassic era.
Speaker 1 (07:04):
Time now for a look at some of the other
stories making news in New York and around the world.
For that, we're joined by Bloomberg's Michael Barr Michael, Good morning.
Speaker 7 (07:11):
Good morning, Karen. For the second straight week, communities and
upstate New York have been slammed by severe storms and tornadoes.
Dozens of buildings have been destroyed and nine tornadoes confirmed
near Syracuse and Rochester in Rome, New York Governor Kathy
Okel said tens of thousands of customers in the affected
areas are still without power.
Speaker 11 (07:32):
This is an urgent situation. When the heat is as
hot as it is right now, people need their power
back on, So we are focused intensely on making sure
that happens as soon as humanly possible.
Speaker 7 (07:44):
At least one person dined in the storms. Wall Street
Journal reporter Evan Gerskovich has appeared in court in Russia
for the second hearing in his trial on espionage charges. Gerskevich,
his employer, and the US government vehemently deny the charge
against him. Kriskevich was accused by the Russian Prosecutor General's
office of gathering secret information on orders from the CIA
(08:08):
about a plant that produces and repairs tanks and other
military equipment. The journalist was detained while on a reporting
trip in March of twenty twenty three. The US Navy
has exonerated more than two hundred and fifty black sailors
found to be unjustly punished in nineteen forty four following
a California port explosion that killed hundreds of service members.
(08:29):
The blast killed three hundred twenty sailors and civilians, nearly
seventy five percent of whom were black, and injured another
four hundred personnel Navy Secretary Carlos del Toro.
Speaker 9 (08:40):
This decision clears their names, restores their honor, and acknowledges
the courage they displayed in the face of immense danger.
Speaker 7 (08:49):
The punishments kept them from receiving honorable discharges. Fifty sailors
who held their demands for safety and training were tried
as a group on charges of conspiracy to commit mutiny.
They were convicted and sent to prison. Researchers studying tens
of thousands of patients found that people who have irregular
sleep patterns, say five hours of sleep one night, ten
(09:11):
hours of sleep the next night, have a more than
thirty percent higher risk of developing type two diabetes. Doctor
Cina Keance is with Brigham and Women's Hospital in Boston.
Speaker 4 (09:23):
Our finis have the potential to improve diabetes prevention on
multiple levels.
Speaker 1 (09:28):
Clinically, they might inform better patient care and treatment plans.
Speaker 7 (09:33):
Doctor Kennercy says. The study was on patients in the
United Kingdom. Global News twenty four hours a day and
whenever you want it with Bloomberg News. Now, Michael Barr,
this is Bloomberg.
Speaker 1 (09:42):
Heret all right, Michael Barr, thank you. Time now to
the Bloomberg Sports Update with John stash Hour. John, good morning, Good.
Speaker 6 (09:53):
Morning care and it's a difficult, cloudy bristday in Scotland.
The players are bundled up for the start of the
Open Championship in fifty second edition, tenth time. It's being
held at Royal Trooon and early on Justin Thomas, Matt Wallace,
Young Hans Song share the lead three under part is
the last major of the year. Vice at the Champeau
has so far finished sixth at the Masters, second at
(10:14):
the PGA, and last month he won the US Open.
The Champeau was just teed off. Rory McElroy is about
to and later this morning. World number one Scottie Scheffler
excited to be playing Lenke Skulf.
Speaker 12 (10:24):
I just feel like you have to be more creative here,
and you know, I love that part of it. I
feel like when I do come over here, this is
really kind of how golf was intended to be played.
I feel like there's a lot more opportunity for shot
making and being creative around the greens.
Speaker 6 (10:38):
Jeff has already won six tournaments this year. He's trying
to be just the fourth since nineteen eighty to win
the Masters, and they Open the same year. He's the
first is Tiger Woods in twenty thirteen to be the
betting favorite going into all four majors. London the next
up for the US Olympic basketball team. They'll play exhibition
games there on Saturday and Monday, then a week from
Sunday it's the opener in Paris against Serbia, who the
(10:59):
US just be easily one oh five to seventy nine.
Steph Curry scored twenty four points. Caitlin Clark has often
been compared to Curry, and last night she did something
no WNBA player has ever done before. Clark had nineteen assists.
She just scored twenty four points. Although Indiana loss to
the last place Dallas, Pat Williams has passed away at
(11:19):
eighty four. Longtime NBA exec with Philadelphia and then Orlando,
represented the Magic three times when they won the draft lottery,
landing them Shaquille O'Neal, Penny Hardaway, and Dwight Howard. Williams
also wrote over one hundred books, ran fifty eight marathons,
and he and his wife had nineteen children, fourteen of
them adopted from foreign countries. John Stasherwick Bloomberg Sports Karenia.
Speaker 5 (11:44):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak. Good Morning on
Nathan Hager. It is a tale of two campaigns.
Speaker 3 (11:58):
As the Republican National Convention heads to its conclusion tonight,
Donald Trump is set to accept his party's nomination for
a third time after surviving an assassination attempt and cementing
his populist hold on the Republican Party, while President Biden
finds himself sidelined by COVID and under fast growing pressure
to bow out of the race. Joining us for more
Bloomberg Breaking News, Managing Editor Derek Wallbank, Derek, good morning.
(12:21):
Let's start with the convention. What are your takeaways from
what we saw from JD. Vance last night, his acceptance
speech as running mate and this populist message that you
know he's solidifying for former President Trump.
Speaker 13 (12:34):
Well, Nathan, I think that JD. Vance is somebody who
has been a staunch ally of Donald Trump. Remember, you know,
he's the sort of person who was running in a
very crowded primary field when he wanted to be a
senator from Ohio. Trump picked him to be endorsed. He
goes on, gets that nomination, gets the win, gets into
(12:55):
the Senate, becomes one of Donald Trump's most fervent supporters,
and eventually now rewarded with the VP nomination. But Vance
hasn't been in the political scene for all that long.
So this was a chance for JD. Vance to introduce
himself to the public writ large, and he went with
a very biography heavy introduction. You know, a guy who
(13:19):
first came to prominence from having written his own biography.
He'll bili elogy, you know, talking about his experiences and
you know that you know the sort of appellation, you know,
how did everybody lose, the lose the working person, you know,
things of that nature, and he sort of tried to
(13:39):
tie that into Trump's appeal. One of the things I
saw from Vance and from other speakers. Marco Rubio was
one who really did this was they were trying to
sort of verbally set up a permission structure for people
who may not have liked Trump before but to come
on board with this. And you actually saw this a
little bit from Nicki Hayley the other day as well.
(14:01):
Right set up a pathway for people who have not
been there for Trump, who are sitting there don't really
like the idea of Biden either, have serious reservations about
the president right now to vote for the former president instead.
So that was kind of rhetorically where he was going.
I think, you know, the most memorable parts of it though,
was when he was talking about his take no Prisoner's mamma,
(14:25):
his grandmother who helped raise him, and then when he
spotlighted his own mother, who struggled with substance abuse and
has been clean now on about ten years. Those were very,
very popular moments at the convention among the attendees there.
We'll see how it all resonates among the general public
when we get some post convention polls. But this was JD.
(14:48):
Vance's moment to make a name for himself.
Speaker 3 (14:52):
And Donald Trump's moment comes tonight. I mean, this really
could be another one of those so called moments, his
first speech after getting great by a bullet last weekend.
Speaker 13 (15:01):
Derek. Yeah. Now, Trump has made appearances, you know, each
night of the convention, but this is the first time
that we're going to get to hear from him. This
is somebody who, look, you know, whether you like him
or you don't like him. As somebody who has a
reputation well earned for showmanship, former television host, you should
(15:21):
expect the stage management of this to be nailed down,
right And again, as I say, Nathan, you know Trump,
the nation has had four years of Donald Trump as president.
If you like him or if you don't like him,
you know what you're getting, right, Like, there's there's nobody
in the United States who don't know who Donald J.
Trump is. But this is also a guy who, for
(15:44):
the first time really in his electoral history, finds himself
as a general election favorite.
Speaker 7 (15:51):
Right.
Speaker 13 (15:51):
He never was against Hillary Clinton. She was favored the
entire way according to poles and analysts and things like that.
Trump now is is in a situation where the betting
markets are saying that he's likely to win. You're seeing
movements and all of that, and so this is a
different position for him. He's also come off of a
you know, a time when he was literally shot in
the air giving a speech. You know, we're in uncharted
(16:14):
moments here for Donald Trump. I think there's gonna be
a lot of interest in how he handles this.
Speaker 2 (16:20):
This is Bloomberg day Break today, your morning brief on
the stories making news from Wall Street to Washington and beyond.
Speaker 1 (16:26):
Look for us on your podcast feed at six am
Eastern each morning, on Apple, Spotify, and anywhere else you
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Speaker 2 (16:34):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 1 (16:48):
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Speaker 2 (16:56):
Listen coast to coast on the Bloomberg Business app serious X,
I'm the iHeartRadio app, and on Bloomberg dot Com. I'm
Nathan Hager and I'm Karen Moscow.
Speaker 1 (17:05):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Daybreak
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