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Speaker 4: Good morning, I'm Nathan.
Speaker 2: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 2: following today.
Speaker 4: We begin with last night's election results and a major
Speaker 4: victory for abortion rights.
Speaker 1: In Ohio.
Speaker 4: Voters approved Issue one, which enshrines the right to abortion
Speaker 4: access in the state constitution, by a fifty six to
Speaker 4: forty four percent margin. Bloomberg Politics reporter Mark Niquette is
Speaker 4: in Ohio and has more.
Speaker 5: It passed pretty overwhelmingly. And what's going to get a
Speaker 5: lot of attention is this past in what has become
Speaker 5: a Republican state. And it's clear that this issue passed
Speaker 5: even in counties that Donald Trump carried pretty handily in
Speaker 5: twenty twenty.
Speaker 4: Bloomberg's Mark Mniquette reports this makes Ohio the latest state
Speaker 4: to back abortion rights after last year's Supreme Court decision
Speaker 4: to overturn Roe v.
Speaker 6: Wade.
Speaker 4: In the interest of transparency, we should note that Michael Bloomberg,
Speaker 4: founder and majority owner of Bloomberg Radio parent Bloomberg LP,
Speaker 4: donated a million dollars to the campaign supporting Ohio's abortion
Speaker 4: rights amendment.
Speaker 2: Well Nathan, It was also a good night for Democrats
Speaker 2: in Virginia, with every seat in the state legislature up
Speaker 2: for grabs. Democrats won majorities in both the House of
Speaker 2: Delegates and the state Senate. It's a blow to Republican
Speaker 2: Governor Glenn Youngkin. He's seen as a presidential contender in
Speaker 2: twenty twenty eight and had hoped to pass a fifteen
Speaker 2: week abortion band with GOP control. And in another major race,
Speaker 2: Democrat Andy Basher has won a second term as governor
Speaker 2: of Kentucky, a state former President Donald Trump carried by
Speaker 2: nearly twenty five points in twenty twenty.
Speaker 7: And In other.
Speaker 4: Political news, Karen Tonight in Miami, Republicans hold their third
Speaker 4: residential debate. Five candidates will take part. Ron de Santis,
Speaker 4: Sneaky Haley, Vivek Ramaswami, Tim Scott, and Chris Christy Well.
Speaker 2: Nathan notably absent, will be GOP front runner Donald Trump.
Speaker 2: Two days after the former president testified at his New
Speaker 2: York fraud trial, it's his daughter, Ivanka's turn to take
Speaker 2: the stand and Bloomberg's at Baxter has the story.
Speaker 8: The trial issue is whether Donald Trump inflated the worth
Speaker 8: of his properties to lenders and other business dealings. Ivanka
Speaker 8: Trump has pretty much disappeared from the public spotlight, opting
Speaker 8: to leave both New York and Washington, d C. For Miami,
Speaker 8: but part of what prosecutors want to look at as
Speaker 8: her role in several real estate transactions, as well as
Speaker 8: the valuation of her New York apartment, which they say
Speaker 8: was priced at about two and a half times the
Speaker 8: value ed Baxter Bloomberg Radio.
Speaker 5: Okay, Ed, thank you.
Speaker 4: We now turn to the latest developments in the war
Speaker 4: in the Middle East. Israel says its troops have entered
Speaker 4: the middle of Gaza's main city. Meanwhile, Saudi Arabia's Minister
Speaker 4: of Investment says talks toward normalization of time eyes with
Speaker 4: Israel remain on the table. Despite the Kingdom's criticism of
Speaker 4: Israeli military action. We spoke exclusively with Khalid Alfala.
Speaker 9: You know when those discussions were taking place, and his
Speaker 9: Royal Highds, the Crown Prince was clear that it is
Speaker 9: contingent on a pathway to peace for resolution of the
Speaker 9: Palestinian questions. That was on the table, that remains on.
Speaker 10: The table, and obviously the setback over the last month
Speaker 10: has brought that has clarified. Why was Saudi Arabia so
Speaker 10: adamant The resolution of the Palestinian conflict has to be
Speaker 10: part of a broader normalization in the Middle East.
Speaker 4: Saudi Investment Minister Khalid Alfala added his country is pained
Speaker 4: on a human level at the loss of life in
Speaker 4: Gaza and in Israel. He spoke at the Bloomberg New
Speaker 4: Economy Forum in Singapore.
Speaker 2: Well back in the US, Nathan, the House is voted
Speaker 2: to censure Democrat Rashida Tahlieb of Michigan for her rhetoric
Speaker 2: about the Israel Hamas war. Seager Mike Johnson presided over
Speaker 2: the vote.
Speaker 11: On this vote, the yea's are two hundred and thirty
Speaker 11: four and the nay's are one hundred eighty eight, with
Speaker 11: four answering present, the resolution is adopted.
Speaker 2: The House's action was an extraordinary rebuke of the only
Speaker 2: Palestinian American in Congress to leave defended her stance, saying
Speaker 2: she quote will not be silenced and I will not
Speaker 2: let you distort my words.
Speaker 4: Turning to markets now, Karen, the s and P five hundreds.
Speaker 4: Coming off seven straight days of gains, today, investors will
Speaker 4: wait more clues on interest rates from a host of
Speaker 4: Central Bank officials, including FED share J.
Speaker 12: Powell.
Speaker 4: Yesterday, FED Governor Christopher Waller commented on the recent jump
Speaker 4: in tenure yields since the.
Speaker 2: Beginning of July. This thing has gone way up, almost
Speaker 2: a full percentage point. I think in Central Bank terms
Speaker 2: of financial markets, that's an earthquake.
Speaker 4: Governor Chris Waller notes yields on ten yure treasuries have
Speaker 4: climbed more than one hundred basis points since the end
Speaker 4: of July.
Speaker 2: Well, earnings will also be on investors' minds. This after afternoon,
Speaker 2: we hear from Disney, Nathan and bloomberg Stown. Buzzby has
Speaker 2: a preview with strong revenue expected at its theme parks.
Speaker 2: Disney forecast report overall earnings growth for last quarter and
Speaker 2: to once again add subscribers to its flagship Disney Plus
Speaker 2: streaming service. Investors also watching any comment on when that
Speaker 2: streaming business will be profitable, the latest on spinning off
Speaker 2: its ESPN network into a separate streaming unit, and updates
Speaker 2: on selling off a ABC network and other non core
Speaker 2: media holdings. Bloomberg consensus calls for adjusted earnings per share
Speaker 2: of sixty nine cents revenue of twenty one point four
Speaker 2: to three billion dollars. Tom busby Bloomberg Radio.
Speaker 4: Okay, Tom, thanks, and after the bell earnings to get
Speaker 4: you caught up on watching Shares of Robinhood They're down
Speaker 4: seven and to half percent in early trading. The online
Speaker 4: brokerage reported revenue that missed estimates. Bumble shares are down
Speaker 4: nine percent, a day after announcing it would replace its CEO.
Speaker 4: The dating app reported worse than expected revenue guidance. Rivian
Speaker 4: Automotive shares are up six and a half percent, the
Speaker 4: ev makers raising its forecast for overall production this year,
Speaker 4: and forgive me but shares of Toast are Toast this
Speaker 4: morning they are down seventeen and a half percent. The
Speaker 4: restaurant software company lowered the upper range of its full
Speaker 4: year revenue forecast, and.
Speaker 2: It is time now for a look at some of
Speaker 2: the other stories making news around the world. For that,
Speaker 2: we're joined by Bloomberg's John Tunker. John.
Speaker 6: Good morning, Good morning Karen. In history made in the
Speaker 6: City of Brotherly Love. Among the results of Tuesday's election,
Speaker 6: Democrat Cherrel Parker won Philadelphia's mayoral election. Parker becomes the
Speaker 6: first female mayor of the city.
Speaker 13: No matter where we went, our message stayed the same.
Speaker 6: And guess what I.
Speaker 13: Learned during that time Philadelphia that people were yearning for authenticity.
Speaker 6: Parker won with seventy four percent of the vote. Another
Speaker 6: first in the nation, Small Estate Democrat gave Mo defeated
Speaker 6: Republican Jerry Leonard to win Rhode Island's first congressional district
Speaker 6: seat and become that state's first black candidate elected to Congress.
Speaker 14: The journey of so many Rhode Islanders and their families
Speaker 14: is one of brit hard work, determination and resilience. And
Speaker 14: I stand on the shoulders of so many who came
Speaker 14: before me to make this day possible.
Speaker 6: I will picked up sixty five percent of the vote
Speaker 6: there based on questions for the bench, A majority of
Speaker 6: justices on the Supreme Court appear inclined to uphold a
Speaker 6: federal gun ban on people who are under restraining orders
Speaker 6: for domestic violence. The Solicitor General, Elizabeth Prelogord defended the law.
Speaker 6: The constitutional principle is clear, you can disarm dangerous persons.
Speaker 6: The federal ban has been on the books for thirty years.
Speaker 6: We Works collapse is spreading through the battered commercial real
Speaker 6: estate industry, threatening to upend dozens of leases in cities
Speaker 6: including San Francisco and New York. That story from Bloomberg's
Speaker 6: Charlie Pellett.
Speaker 7: The co working giant spiral into bankruptcy, hit landlords along
Speaker 7: the way as it renegotiated and saw to exit many leases.
Speaker 7: Now Monday's bankruptcy filing and a plan to terminate nearly
Speaker 7: seventy of those contracts is set to exacerbate issues facing
Speaker 7: many of we Work's landlords. The tenant wants out and
Speaker 7: could have more power to leave. Office owners have been
Speaker 7: grappling with a slowdown spurred by higher borrowing costs that
Speaker 7: are pressuring building values, as well as a shift in
Speaker 7: tenant demand with a rise in remote work in New York.
Speaker 7: Charlie Pellett Bloomberg radio.
Speaker 6: And global news twenty four hours a day and whenever
Speaker 6: you want it with Bloomberg News Now. I'm John Tucker
Speaker 6: and this is Bloomberg Karen.
Speaker 2: All right, John, thank you. It is time now to
Speaker 2: get a check of sports. But first we're going to
Speaker 2: tell you that you may bring your news throughout the
Speaker 2: day here on Bloomberg Radio. But now, as John said,
Speaker 2: you can get the latest news on demand whenever you
Speaker 2: want it. Subscribe to Bloomberg News Now to get the
Speaker 2: latest headlines at the click of a button. Get informed
Speaker 2: on your schedule. You can listen and subscribe to Bloomberg
Speaker 2: News Now on the Bloomberg Business Nopp, Bloomberg dot Com
Speaker 2: plus Apple, Spotify, and anywhere else you get your podcasts.
Speaker 2: Now is Sports Hears John stash Hour, John Karon.
Speaker 15: The college basketball season is underway and it begins with
Speaker 15: Kansas ranked number one. The Jayhawks had a season opening
Speaker 15: win on Monday, and the day after, they restructured the
Speaker 15: contract of their longtime coach Bill Selph. He's won two
Speaker 15: national championships, he's already in the Hall of Fame, and
Speaker 15: self's new contract means that he surpasses John Caliperi. He's
Speaker 15: now the highest paid coach in college hoops, Baylor being
Speaker 15: Auburn eighty eight eighty two, a win for Saint John's
Speaker 15: playing for the first time of their new coach, another
Speaker 15: Hall of Famer Rick Patino. There was no NBA. There's
Speaker 15: some big ones tonight. It's the Celtics and Sixers in Philadelphia.
Speaker 15: Both teams are five and one, Philly's four and oh
Speaker 15: at home Denver the defended NBA Champs seven and.
Speaker 7: One, five and oh at home.
Speaker 15: And tonight welcoming in the Golden State Warriors. San Jose
Speaker 15: Sharks finally got a win. It was two to one
Speaker 15: over Philadelphia. That's their first win of the season and
Speaker 15: it comes in their twelfth game. Tennessee Titans say they
Speaker 15: will stick with rookie quarterback Will Levis even when the
Speaker 15: incumbent QV Ryan Tannehill returns from his ankle injury. Lev
Speaker 15: Is very impressive in his first Star with he threw
Speaker 15: four touchdown passes. They drafted him in the second round
Speaker 15: out of Kentucky. Kyler Murray's going to make his season
Speaker 15: debut for Arizona on Sunday, back from the torn acl
Speaker 15: suffered last season. Josh Dobbs not surprisingly becomes the starter
Speaker 15: in Minnesota. He was pressed into duty last Sunday because
Speaker 15: of an injury to the rookie quarterback who went down,
Speaker 15: and Dobbs rallied the Vikings to victory. Of course, they've
Speaker 15: lost Kirk Cousins for the season. John Stanshleyer Bloomberg.
Speaker 12: Sports from coast to coast, from New York to San Francisco,
Speaker 12: Boston to Washington, DC, nationwide on Syrias XAM, the Bloomberg
Speaker 12: Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning,
Speaker 12: I'm Nathan Hager.
Speaker 4: We want to get you know, more results from last
Speaker 4: night's off off year elections. Abortion rights may have been
Speaker 4: officially on the ballot in just one state, but the
Speaker 4: issue may have driven voters in races beyond that state, Ohio,
Speaker 4: and into Virginia and perhaps beyond for more. We're joined
Speaker 4: now by Bloomberg News Senior editor Bill Ferries. Bill, Good morning.
Speaker 4: It was a pretty overwhelming result for Issue one in Ohio.
Speaker 4: Does that results have residents into next year's election?
Speaker 3: Absolutely. I think for Democrats who have been really trying
Speaker 3: to get the party to focus on abortion rights, they're
Speaker 3: all seeing what they would call victories in Ohio, Kentucky,
Speaker 3: and even Virginia last night, and I think they're going
Speaker 3: to say that that is a positive way forward for
Speaker 3: them looking into twenty twenty four after what is probably
Speaker 3: many would say has been a tough week looking at
Speaker 3: Paul showing President Biden perhaps lagging former President Trump in
Speaker 3: a number of the key swing states. So this is
Speaker 3: something I think, given the results last night, you're going
Speaker 3: to hear Democrats talking a lot more about in the
Speaker 3: coming months that abortion.
Speaker 1: I'm sorry.
Speaker 4: That result in Virginia in particular is pretty interesting because
Speaker 4: the Republican governor there, Glenn Youngkin, who's been talked about
Speaker 4: as a potential presidential candidate not just in twenty twenty
Speaker 4: eight but in this cycle as well, had campaigned pretty
Speaker 4: hard on this idea that if Republicans took over the
Speaker 4: state legislature, that a fifteen week abortion ban could be
Speaker 4: passed in Virginia. What does this result for Democrats winning
Speaker 4: in Virginia mean for Youngkin's political prospects.
Speaker 3: Well, for Democrats, I think it's a big sigh of
Speaker 3: relief that the Virginia still came in I think on
Speaker 3: their side and looks like both chambers are going to
Speaker 3: be in Democratic hands going into the going into next year.
Speaker 3: For Young Kin, I think it's going to be it's
Speaker 3: going to make that idea that he could be some
Speaker 3: sort of last minute candidate if for some reason Donald
Speaker 3: Trump is not in the race, it starts to rule
Speaker 3: that out. He has a much weaker hand facing Democrats
Speaker 3: in both chambers in terms of being able to get
Speaker 3: his policies passed and dominating the agenda. I think Democrats
Speaker 3: are going to try to set the tone once they
Speaker 3: take their seats. It does, you know, it's still I
Speaker 3: think the idea that Youngkin could could be a candidate
Speaker 3: in twenty twenty eight is also tested a little bit.
Speaker 3: It's so early to even be talking about that at
Speaker 3: this point. But if you're a potential yet we do.
Speaker 3: If you're a potential candidate looking that far ahead, you
Speaker 3: think about the agenda you want to set, the accomplishments,
Speaker 3: the legislative accomplishments you'd like to have. And I think
Speaker 3: this makes that a lot harder for someone like Governor
Speaker 3: Youngkin to plan out and game out ahead of that election.
Speaker 3: You know, almost five years from now.
Speaker 4: You mentioned Democrats potentially talking more about abortion rights into
Speaker 4: this election cycle. What about the economy that's been an
Speaker 4: issue that this president has struggled to gain traction on.
Speaker 4: Does abortion override economic issues for voters in this election cycle?
Speaker 3: You know, that's the economy is often the deciding factor
Speaker 3: for a lot of voters going into the polling booth.
Speaker 3: I think there are definitely voters on both sides who
Speaker 3: would view abortions as the key issue, the biggest thing,
Speaker 3: the most important thing to them. But in the end,
Speaker 3: you know, I think the economy is often what swings
Speaker 3: voters either way, particularly those independent voters in the middle.
Speaker 3: If heading you know, in the months heading into November
Speaker 3: twenty twenty four, they're feeling better than they are now
Speaker 3: about the economy, that probably benefits the incumbent of the
Speaker 3: Biden administration. If they're feeling worse, and there's a lot
Speaker 3: of signs that, you know, the economy could be struggling
Speaker 3: more next year than it is this year, then that
Speaker 3: makes it I think a harder slog for a president
Speaker 3: and his team to argue that they should remain in place.
Speaker 3: So it's the economy, you know, it's that Carville saying
Speaker 3: it's the economy stupid. I think that that's always going
Speaker 3: to be, if not the biggest, one of the biggest factors.
Speaker 3: We know that voters right now are not very pleased
Speaker 3: with where things are, even if some of the numbers
Speaker 3: are perhaps better better than forecast.
Speaker 4: In the time we have left, Bill, I want to
Speaker 4: talk about geopolitics and the latest in the Israel Hamas war,
Speaker 4: with Israeli troops getting gaining ground in Gaza City and
Speaker 4: now the G seven commenting what's the latest.
Speaker 3: Yeah, so we heard from Israel, Israel's defense ministers today
Speaker 3: saying that their forces are now in the heart of
Speaker 3: Gaza City. You know they've been they've kind of encircled
Speaker 3: Gaza at this point, and they say they're going after
Speaker 3: key Hamas leaders and trying to destroy some of the
Speaker 3: tunnel networks and the weapons depots that have been built
Speaker 3: up there. And the G seven coming out today, the
Speaker 3: foreign ministers coming out with a unified statement saying that
Speaker 3: there should be humanity pauses in the war. That's of
Speaker 3: course separate from a ceasefire. But Israel, who's even pushed
Speaker 3: back on the idea of some of the pauses, saying
Speaker 3: that eight is getting in and any pause would only
Speaker 3: benefit Hamas. So lots of complicated politics going on there.
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