0:01

News when you wanted. With Bloomberg

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News Now, I'm Nathan Hager.

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And I'm Karen Moscow.

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Karen.

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We begin this morning with the latest developments out

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of the Middle East. Israeli Prime Minister Benjamin

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NATANYAHUU has held a series of meetings

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planning the next attack on Iran. That's

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after a Hesbala drone exploded

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next to his private home. We get

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more from Bloomberg's Patrick Sykes in the Middle

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East.

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The timeline to be clear, I think is still unclear,

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but that series of meetings over the weekend does

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suggest that it's firmly back on the agenda

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in those security circles. There were some leaks

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over the weekend from the US side suggesting

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that drones would be involved. That

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would tally with the last sort of back and forth

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earlier this year in April, when Israel's

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thought to have used drones to target Iranian

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radar facility. And then the only other

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lineup over the weekend was the Iranian

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Foreign minister calling any potential

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attack from Israel against Iran a

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red line and promising to reply

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in kind. So both sides keeping up

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the rhetoric, but it does remain to be seen when

1:00

exactly it will take place.

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Bloomberg's Patrick Sike says Israel's killing

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of Hamas leader Yahya sin War was viewed

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by many as a potential turning point,

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but in the days since combat has

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intensified, with Hesbola.

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And Hamas now to the latest

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in the presidential race, Nathan. With fifteen

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days until the election, former President

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Donald Trump held a town hall in

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Lancaster, Pennsylvania. He addressed

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a new line of attack from a Vice President

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Kamala Harris, that he's getting tired

1:28

on the campaign trail.

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I've done cognitive tests.

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I've done him twice and I aced both

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of them, and.

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The doctor in one case said I've never

1:36

seen anybody asum.

1:38

They've never seen anybody asm.

1:40

But I'd like to see cognitive tests for anybody

1:42

running for president or vice president.

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Later today, Trump will hold a rally in Greenville,

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North Carolina, after heavily criticizing

1:50

the Biden Administration's response to Hurricane

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Helene. He has a series of

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splashy media events planned in the

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campaign's final days, including a rally

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at Madison Square Garden this Sunday.

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I Meanwhile, Karen Vice President Harris, visited

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a black church in Stonecrest, Georgia

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on Sunday and gave an interview to the Reverend

2:07

Al Sharpton on MSNBC. She

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was asked about the former president's quote

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street talk on the campaign and use

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of vulgar language to describe her

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record as vice president.

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The President of the United States must

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set a standard not only

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for our nation, but understanding the

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standard that we as a nation must set for

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the world.

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Kamala Harris predicted Trump's lack of decorum

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would be a disqualifier with voters. New

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federal campaign finance filings show the Harris

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campaign raised two hundred and twenty one point

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eight million dollars in September. That's

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more than three times the sixty two point

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seven million raised by the Trump campaign. The

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latest Real Clear Politics average of national

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polls shows the race still neck and neck, with

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Harris leading Trump by just nine

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tenths of one percent.

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Well, we turn to the markets now, Nathan and Wall

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Street gets back to work with stockson

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record territory. In fact, the s P

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five hundred is coming off it's forty seventh

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record close of the year. Kamal Batia,

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President and CEO of Principal Asset

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Management.

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Look I think the markets have very powerful momentum

3:10

right now, not just here but also other parts

3:12

of the world. So I do think

3:15

the market conditions are perfect

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for equities to do well here, although

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the valuations are getting rich.

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Principal Asset Managements Kamal Badia

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notes the S and P five hundred has risen

3:27

for six straight weeks.

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And well, that's raised concerns over valuations.

3:31

Karen Muddy Waters Capital founder Carson

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Block says most investors would now do better

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to just buy the biggest US stocks.

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There's a FED put. There's always a FED put.

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You know.

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Does there come a point in time when the system breaks

3:44

and the FED can't fix it? Theoretically

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yes, in our lifetimes, I

3:48

don't know. So I think for now

3:51

it probably just pays not to think

3:53

too much, just close your eyes and buy, you

3:56

know, probably mag seven.

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Muddy Waters Capital founder Carson Block

4:00

also tells Bloomberg the China stock market

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is uninvestible.

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Well, Nathan. The parade of earnings continues

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with the number of high profile companies

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reporting this week, including several

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Down members. We get a preview with Bloomberg's

4:13

Charlie Pellett.

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We'll be getting earnings reports this week from AT

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and T, Boeing, and Coca Cola mid

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questions about whether the outlook for corporate

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profits justifies current valuations.

4:24

Quincy Crosby is chief Global strategist

4:26

at LPL Financial.

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This is a market that really is discerning

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and will punish any slight,

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any slight hint in the guidance

4:36

that doesn't meet ultimately

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the valuations.

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Also reporting this week ge

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Tesla, American Airlines and Southwest

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Airlines. We'll also hear from UPS

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and Norfolk Southern in New York.

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Charlie Pellett, Bloomberg Radio.

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All right, Charlie, thank you. The S and P five

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hundreds decade of big gains is about

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to come to an end. That is, according to strategists

4:58

at Goldman Sachs say US

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stocks are unlikely to sustain their above

5:02

average performance as investors turned

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to other assets, including bonds, for better

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returns. Goldman predicts the S and P will

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post an annualized nominal total return of

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just three percent over the next ten

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years. That compares with thirteen percent

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in the last decade and a long term average

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of eleven percent.

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Well Nathan and Company News shares a Boeing

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up almost four percent this morning, the Planemaker

5:24

and the union representing thirty three thousand

5:27

striking members hammered out a tentative

5:29

new accord that not just a pay by thirty

5:31

five percent over four years, but the

5:33

hourly workers had the final say with their

5:35

vote on Wednesday, and approval is far

5:37

from certain. They overwhelmingly rejected

5:39

a deal in September.

5:41

Look for a jump in Treasury yields,

5:43

Scaren. That's the call out a t ROW price.

5:46

The firm says the tenure Treasury will test

5:48

the five percent threshold in the next six

5:50

months off the back of rising inflation expectations

5:53

and concerns over US fiscal spending.

5:55

The call stands out against market expectations

5:58

of lower yields after the Fed had cut rates

6:00

for the first time in four years last month.

6:03

Time Now for the Bloomberg Sports update, here's

6:05

John stash Hour.

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Thanks Karen. The World Series is said it will be the Yankees

6:09

against the Dodgers started Friday night in

6:11

LA. The Dodgers one Game six

6:13

of the NLCS ten to five over

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the Metster shortstop Tommy Edmund drove

6:18

in four runs. He was the LCS MVP.

6:21

The New York Liberty WNBA champions

6:23

They won the decisive game five over Minnesota

6:26

sixty seven sixty two in overtime.

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So the night football was in Pittsburgh, the Steelers

6:30

overwhelmed the Jets thirty seven to fifteen.

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That's you, Bloomberg Sports Update.

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Thanks John, And that's news when you

6:36

wanted with Bloomberg News.

6:38

Now.

6:38

I'm Karen Moscow, I'm Nathan Hager,

6:41

and this is Bloomberg