Podcast Summary
Biden's 2024 endorsement: President Biden has endorsed Vice President Harris for the Democratic nomination in 2024, following her quick gain of endorsements from notable Democrats and pressure within his own party.
President Joe Biden has ended speculation about his 2024 re-election bid by endorsing Vice President Kamala Harris to be the Democratic Party's nominee. This decision comes after pressure from within his own party and follows Harris' quick gain of endorsements from notable Democrats, including Senators Elizabeth Warren, Bill Clinton, and Hillary Clinton. The process going forward is expected to be open and orderly, with some Democrats, such as Governor Joe Manchin, considering running for the presidency themselves. This news marks a significant development in the 2024 presidential race.
Democratic VP nominee speculation, Harris vs Trump: Democratic donations surge following Harris' nomination and Trump's campaign plans to use Harris' immigration policy against her in the upcoming election
As Nathan Harris officially secures the Democratic nomination for president, speculation about her potential running mate heats up. Potential contenders include Governor Gretchen Whitmer of Michigan, Illinois Governor J.B. Pritzker, Pennsylvania Governor Josh Shapiro, Senator Mark Kelly of Arizona, and Transportation Secretary Pete Buttigieg. Each candidate brings unique strengths to the table, such as strong approval ratings, national security expertise, and the potential to make history as the first female or openly gay vice president. Meanwhile, former President Donald Trump's campaign is gearing up to take on Vice President Harris, who has been leading immigration policy in the Biden administration. The Trump campaign plans to use Harris' role in immigration policy against her, with co-campaign manager Chris Lasavita already labeling her as "soft on borders." Amidst all this, Democratic donations totaled at least $50 million in the hours following Biden's exit and Harris' expected nomination, marking a significant fundraising day for the party.
Israeli PM visit, U.S. Ambassador role: The Israeli PM's visit and U.S. Ambassador's involvement could influence U.S. policies towards Israel, while investors closely monitor potential impacts on various sectors due to the upcoming presidential election
The upcoming visit of Israeli Prime Minister Benjamin Netanyahu to Washington, D.C. is expected to be a significant event, with college athlete and U.S. Ambassador to Israel Tom Nides playing a key role. Meanwhile, investors are closely watching the potential impact of a change in presidential administration on various sectors, including electric vehicles, private prisons, cryptocurrency, financials, healthcare, and renewable energy. The Biden administration has advocated for electrification of transportation and stricter regulations, while a Trump presidency could result in more lenient policies for some sectors. As a result, stocks in these industries are experiencing fluctuations based on the perceived likelihood of a Republican or Democratic victory.
Market reaction to Biden dropping out: Markets reacted positively to Biden ending his reelection bid, with Treasuries rising, stock futures higher, and tech stocks leading the way. However, focus shifts to tech sector earnings, with Tesla and Delta Airlines reporting this week. Delta apologized for canceling thousands of flights due to tech meltdown, affecting US airlines the hardest globally.
Markets are reacting to the news of President Biden ending his reelection bid, with Treasuries rising, stock futures higher, and tech stocks leading the way. However, the focus will shift to earnings in the tech sector, with Tesla and Delta Airlines reporting this week. Delta Airlines apologized for canceling thousands of flights during the busiest travel weekend due to a technology meltdown, affecting the US carriers the hardest among airlines globally. Local politicians have reacted to Biden's decision to drop out of the 2024 presidential race, with some praising his service and others calling for his resignation. Additionally, the U.S. Secret Service Director will testify before a congressional committee about the recent failed assassination attempt against former President Trump.
Politics, Fires, Fertility: Political calls for resignation, wildfires causing evacuations, and a personal exploration of the fertility industry illustrate the intricacy and interconnectedness of current events
There are significant developments in various domains, both political and personal. In the political sphere, Cheetos CEO, Nicki Haskell, is facing calls for resignation from Republican lawmakers due to her controversial actions. Meanwhile, wildfires in the western United States and Canada are causing air quality concerns and evacuation orders. In a more personal note, Bloomberg Health Reporter Kristen V. Brown shares her experience with the fertility industry and the launch of her new podcast series, "Misconception," which explores the intimate and business aspects of this industry. These events underscore the complexity and interconnectedness of the world around us, highlighting the need for ongoing awareness and engagement.
Back-to-Back Majors for Schofili: Zander Schofili made history by winning the Open Championship and becoming the second player to win back-to-back majors this year. He shot a bogey-free 65 in the final round and won after 29 previous attempts.
Zander Schofili made history by winning the Open Championship and becoming only the second player to win back-to-back majors this year. Schofili's bogey-free 65 in the final round was reminiscent of his score in the PGA Championship two months ago, and his first major victory came after 29 previous attempts. The Rays and Yankees continued their intense baseball rivalry, with the Rays securing at least a split in their four-game series. In baseball news, Adrian Beltrane was inducted into the Baseball Hall of Fame, joining Todd Helton, Joe Mauer, and Jim Leyland as the 23rd manager to be inducted. Meanwhile, President Biden's decision to endorse Vice President Kamala Harris for reelection marks the beginning of a four-month sprint for Democrats leading up to the midterm elections.
Democratic Party's nomination process: Vice President Harris needs to assert herself as the nominee, and Biden's endorsement aims to prevent a contested convention and unify the party
The Democratic Party is expected to quickly rally behind Vice President Kamala Harris following President Biden's endorsement, but delegates still have their own decision to make. Vice President Harris needs to assert herself as the nominee and allow most of the focus and competition to shift towards the vice presidential nomination. Biden's decision was also influenced by the possibility of a delegate revolt if a contested convention continued. The party aims to move forward and unify behind Harris, but the formal nomination process still needs to play out.
Democratic Party convention rules: The Democratic Party may need to adjust their convention rules or secure Senator Manchin's support to expedite Harris's nomination, emphasizing the importance of appealing to middle and independent voters.
The Democratic Party may need to adjust their convention rules or secure Senator Manchin's support to expedite Vice President Harris's nomination. Manchin, who has expressed concerns about the party's rush towards progressivism, could potentially be a contender for the vice presidential nomination himself. He wants something in return for his support and is using this as a way to emphasize the importance of appealing to the middle and independent voters. The party may be looking for a ticket balancer, such as a swing state governor, to join Harris on the ticket. Manchin mentioned Michigan's Governor Whitmer and Pennsylvania's Governor Shapiro as potential options. The situation is serious, and the party wants to avoid opening up the convention rules, which could lead to a coalescing around Harris or a tweaked nomination process.
Biden's impact on Harris ticket: President Biden's appeal to key voter demographics and aligning voting record make him an asset to the Harris ticket in swing states, but his impending presidency departure may bring a drag to the campaign.
Key takeaway from the discussion on Bloomberg Daybreak is that President Joe Biden's presence on the Democratic ticket, despite being in the final months of his presidency, is significant due to his ability to appeal to key voter demographics, often referred to as "center speak." This appeal, coupled with a voting record that aligns with these voters, makes him an asset to the Harris ticket, even in swing states. However, his presidency's end may also bring a drag to the campaign due to his impending departure. Additionally, Bloomberg Daybreak covers various business and political news, including volatile markets, global elections, and central bank policy. Listeners can tune in each morning on various platforms, including Apple Podcasts, SiriusXM, and Bloomberg.com. For in-depth analysis of one big story each week, listen to Here's Why, a new podcast from Bloomberg.