18 Burst results for "Stone Court Capital"
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"To the potential uh... deadline and he couldn't do it uh... even they wouldn't support any of the uh... initiatives and so he was he we took the only route he could take over a shutdown that was to do a deal with the democrats and and he had a lot of them in the final vote was three hundred thirty five to ninety one and only there was one democrat devoted against it and he voted against it because there wasn't any ukraine so uh... he's got a new bunch of pals the democrats in the house one who uh... seem succeed in they'd to like him keep doing it this way and have bipartisan agreements uh... across all the budget process it still looms well a big challenger rick is is matt gates and he's already said that he'll file a motion to house mccarthy this week uh... is gates getting a little too far out over skis with this well he's been a anti mccarthy acolytes since day one he uh... staunchly opposed his and to the speaker's job uh... and uh... not even a part of the uh... freedom caucus which cause most of the public policy issues uh... that have uh... stymied republicans in the house but he's more of sort sort of added his own colleagues com a performance politician right he he takes his positions in order to at interviews and he was wildly successful this weekend with that and uh... and there's no real sense that he can pull off uh... you know a injection of uh... was question it looks like it could backfired votes aren't there than he loses and then it doesn't happen again for some time well he claims he's going to keep doing it not get enough votes i i think there's a a patient's level that may run out on him and certainly the last thing the conservatives want is him driving mccarthy into the hands of uh... uh... jeffries the the minority leader in the democrats uh... to do business with them like what he did in this with the government shutdown so i think you know republicans really uh... some see this is a great opportunity a lot of the caucus says wow this is great we finally got something done uh... and let's move forward and get uh... all these uh... various funding bills they still have uh... all these appropriations bills they've got a pass between now and the middle of november otherwise we run out of money again so how does gates his relationship with former president trump enter into this rick well he's always been sort of a pool of trump and trump made it clear that uh... he wanted a government shutdown that his perspective was uh... let's shut the government down uh... and let's only open it up when they agree to drop all the cases against me nobody on capitol hill took that very seriously uh... but uh... matt gets he promoted consistently that line of thinking and has been really uh... one of uh... donald trump's closest supporters within the caucus uh... there there isn't much outside of that for him he doesn't represent a certain particular set of issues or anything never gotten any bills passed uh... and so he's not considered particularly productive uh... but he's very certainly vocal well how broad is this support uh... from republicans generally against the six billion dollars for ukraine how much of that is tied to trumps position which pro -russia than it was pro -ukraine and how much of it is they still want to spend that much money uh... without getting something in return yeah uh... that in the senate republicans and democrats together are completely united uh... there are a group of republicans in the senate who make up a significant minority uh... who i think would would like to see a engine the approach to ukraine uh... but but they're vastly outweighed by the balance of the house there has been uh... some uh... you know i'd say erosion of for support for funding in ukraine and i think that's kind of mirrored the public sentiment where you know the numbers are strong as they were at the beginning of the war almost two years ago so uh... the reality is that uh... it's it's tougher to get that republican vote in the house but there are of vast majority in the house who uh... uh... republicans who still support ukraine and and i would say a pretty good uh... section of the democrats uh... to so if you ever got a vote like you did on the government shutdown where you have a clean bill on on support for ukraine uh... it would pass handily in in the in the in the in a bipartisan land house represented and in the senate uh... the question is whether whether or not mccarthy's can allow that to happen as as one of the next steps and we would anticipate that coming up over the course of the next couple weeks yet it'll be very interesting to hear a lot of perspective on this story uh... tomorrow sound on bloomberg radio beginning at that one p m wall street time rick davis is uh... part of the team that brings uh... the political analysis to you rick thanks so much for being with us rick davis of bloomberg politics contributor and partner at stone court capital this is going to be it's broadcasting live from the bloomberg interactive brokers studio in new york e c bloomberg ninety nine one to boston bloomberg one oh six one to san francisco bloomberg nine sixty to the country serious xm channel one nineteen and around the globe the bloomberg business and bloomberg radio dot com this is bloomberg daybreak asia d the morning is nine twenty nine in the morning in hong kong i'm brian kurt and i've got kristin at bloomberg at interactive broker studio in new york boy we have got a number of holidays uh... in markets across the a pack china hong kong south korea it's a national holiday in australia nonetheless the equity market is trading kind of flat right now for the a s x two hundred big story is the rally in tokyo and will go through market connection for you momentarily here
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Government and the economy at Bloomberg. Back with us now, our political contributors, Rick Davis of stone court capital and Genie Chan xeno of iona university. So I must say, Rick, I'm a little loath to spend too much time on the question of the integrity because I wonder if we're raising more questions about the integrity of elections just because we keep talking about it. Well, that certainly has been Donald Trump's strategy. So maybe we're playing into Donald Trump says, yeah, look, I mean, we have really safe elections. There's been no problems that have been documented in the 2020 elections. As of today, everything we're hearing is we've had really good elections again today. And the fact that we're even giving it this much airtime kind of lends some question as to whether or not we think we're going to have a problem. The reality is we do great elections here in this country. And the fact that some people have used it to basically try to gain political advantage because they're turning it into a political issue is a different issue entirely. People's votes were safe today. Everyone had a chance to vote, who wanted to vote. Votes are all going to get counted. And we're going to have results, even though it takes some time to get all this counting done. And the reality is, voters are telling us a story. There's historic turnout in 2018. Historic turnout in 2020. And today, we'll likely be historic turnout for this election. Voters think we're crazy because they trust elections. Well, one person who doesn't seem to be complaining with the election is Ron DeSantis, who's gotten reelected there. And we've now heard from Ron DeSantis. This is part of what he had to say about what he accomplished tonight. I have fought the
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Think should happen in that space, which would address the concerns of people. Both as it pertains to crime more broadly and also securing the border. Yeah, so let me give you a couple of things on that. Senator haggerty and I have a piece of legislation, the restoring Law & Order act, which would put more resources to local law enforcement and also would keep these violent criminals locked up. It would require some timely processing of the rape kits. So that is something that is good. Another provision that I think the house will take up very quickly is to take those 87,000 new IRS agents and turn those positions into positions for local law enforcement and for border patrol. Those things would make a big difference. And as a border patrol is you know, they've said for decades that they need three things they need a wall or some kind of physical barrier where they can not have a barrier, they need better technology, and they need more officers and agents. If you give them what they say, they need to do their job, I think you will see the border secured which will have an impact on the crime issue. In our communities, right now, our local law enforcement agencies tell us they're on the front line, fighting these drug cartels, fighting the gangs, dealing with the issues that are so heartbreaking about fentanyl. I think we have time for one more of a Rick Davis. Real quick we've talked about some of the contrasting issues this election cycle senator. But how about China? You recently taken a trip to Taiwan shortly after Nancy Pelosi did, and it seems to be an area that we might be able to as Republicans and Democrats agree to start to push back China's malign influences, especially in the Pacific. Are there things that we can do as a party to work with The White House to actually help in a united front with China? Yes, and coming against the CCP. And their aggressiveness is important not only to Taiwan. But to the other island nations that are there in the indo Pacific. And we need to be very explicit and stepping forward. Making certain that foreign military sales are conducted to Taiwan. So that they have what they need to protect themselves, helping them move to that asymmetric battle posture is something that will be truly a positive. And you're going to see more emphasis on that that should be an area holding China and the Chinese Communist Party to account. It is an area where we should work together to make certain that U.S. corporations are abiding by U.S. law and not abiding and kowtowing to the communist Chinese. Okay, thank you so very much senators really a pleasure to have you with us. That's Republican senator Marsha Blackburn of Tennessee. Great to have you, senator. Thank you for your time, and we're also, of course, have with us Rick Davis of stone court capital and Jeannie Chan xeno of university. They'll be staying with us. So what do you make of that? Do they have specific work that they can pursue? Yeah, look, I mean, there's going to be an agenda answering Genie's question about crime. There's obviously things that are going to try and put in there, whether or not the administration is going to go for that or whether they can even get the votes for it is going to be a big question, especially because under any circumstances is only going to be a margin of two or three. Yeah, exactly. A lot of ambition. But thank you so much to Rick Davis and genius and coming
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Give us if Congress is on board? And we saw what kind of withdrawal we can make when we have someone like Donald Trump as president in these various organizations around climate. And so how really effective will the Biden administration be if they can't get anything passed in the next two years? Jeannie, when we think about climate, we think about renewables. There's a flip side, which is fossil fuels. And the Republicans have made no secret of the fact that if they're in control, they want more exploration, more pipelines, they want more drilling, things like that. Can they get that done if they have a majority in the House and or the Senate? You know, they're going to face some pushback probably from the president we heard him say this the other day, much to the dismay of his own party member. Joe Manchin. And so I do think that. And I think there's something to be said about this issue in foreign policy of consistency as Rick was just talking about, you see changes in party at both the House and the Senate level impact the issue of consistency in all of these areas and our allies then can not count on who we may be and what we will support whether it's climate change, whether it's issues involving energy, whether it's our role in NATO and you go through the list. So I think it's really important people around the world watching what happens in the United States for those reasons. Okay, terrific discussion. Thank you so very much. That's Rick Davis of stone court capital and Jeannie Chan xeno of iona university. They will be sticking with us. They are, after all, our Bloomberg political computers coming up. We're going to take a look at the Georgia Senate race between Herschel Walker and Raphael Warnock. That's coming up next on our very special coverage of midterms 2022 here on Bloomberg. From Bloomberg world
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"And is the United States headed back to a party tug of war between the presidency and Republicans in control of Congress. It Baxter is here looking at the midterm elections. Yeah, that's the story and the drama, Juliette, the latest polls going into today's U.S. midterm elections are presenting data that Republicans will take back control of the house all seats are up of course. But that the Senate with over 30 seats up for grabs still ready to toss up. Joining us is live as a Rick Davis Bloomberg politics contributor partner at stone court capital, Rick thanks so much. The Senate, Georgia, Pennsylvania, all eyes forward with four others in key in Georgia very, very early results. This is the Warnock walker and I'm seeing that Warnock has about 60% of the vote at this point. You can't tell anything for that at this point, though, can you? No, that's right. It's way too early in the evening for these polls that have just closed at 7 o'clock. Typically you have early votes that are cast as sometimes to get counted early ballots usually come from city centers, not urban areas or rural areas, which is where Republicans tend to pick up some vote later in the evening. So the night is young. Don't get too excited about any of these numbers right now. And in Georgia, neither one of these candidates has seen anything close to 50% in polling. Now, Pennsylvania, the polls don't close until 8, but they don't even start counting until that time, correct? That's right, Pennsylvania one of the states that set aside all these early ballots until the election is closed. And then they start counting first election day ballots. So it's exactly the opposite, for instance, of a state like Arizona that has already counted. It's pre election day ballots, and are just going to be counting election day ballots tonight. Now, what do you make of the very early reports today out of Arizona that there was some problems with some reading of machines that already some people have jumped on that saying, claiming election fraud, is this just dramatic now? Is it real now is just pointing toward 2024 and back to 2020? Yeah, first of all, I mean, elections tend to be messy, right? There's technology involved. There's paper involved. There are people involved. Those are usually three bad combinations. And in Arizona, they had a glitch in their systems that affected about a quarter of the machines that are in Maricopa County, the largest county in Arizona. And they were able to get it fixed relatively quickly, but they have provisions for that. You know, you can mark a paper ballot and have it set aside for you, or you can go to another ballot location, doesn't have one of the machine problems. So it shouldn't affect a single vote, really. And it's not meant to be any kind of problem other than a technical glitch that got fixed pretty quickly. So yeah, in this day and age, everything's about fraud and losers are going to claim fraud and winners are going to claim fraud. So it's unfortunate, but we do have very good elections in this country. And so far today, no real problems, not even that Arizona problem should affect one single vote. Now, we have a tendency because all the polling shows the house is just going to be flipped over the GOP, so not a lot of conversation or talk about that is that right, is there any chance in the gods green earth that the Democrats can hold on to the house? It's tough. I mean, a lot of it is historical. The average loss for a party in power is 26 seats. And that's with a couple of aberrations like in 2020 2002 when we were in the middle of the 9 11 situation and George Bush actually picked up 8 seats as a party in power. So everybody thinks that that's going the historical trends hold still. It should be around 25 to 35. House members that change party that go from Democrat to Republican. But look, I mean, this is the best part of elections. That can change everything. And yet history is on the side of the Republicans tonight. All right. Hey, Rick, thank you so much. We appreciate it. We will all look forward to your coverage with David Westin and Jeannie Sanchez, Zeno. That begins in what about 20 minutes from now here on Bloomberg special coverage. In San Francisco, I met Baxter. This is Bloomberg. Thank you, Eddie. Let's get to Dan Schwartzman. We're looking at global sports on daybreak Asia. Dano Formula One big race, right? Yeah but this one dug with Formula One growing more popular in the U.S., the racing circuit announcing that Las Vegas will be hosting a street race in mid November of 2023 that will include the famed Las Vegas Strip as part of the course. The U.S. is not going to be hosting three total races next season, one in Miami in one year Austin, Texas, Barcelona opening up a 5 point lead over Real Madrid in the La Liga table, heading into the World Cup break, the blau grana winning on the road at osasuna two to one despite both Robert Lewandowski and Gerard Piqué leaving the match at red cards in the first half. PK was playing his last match for barsa after shocking the announcing his retirement earlier this week, injured New York giant safety Xavier McKinney says he isn't sure he will be returning this season after suffering a hand injury while vacationing in Mexico during the team's biweek, the
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"They lose the house. Is there any area that you can identify G where The White House could say, let's assume they lose the house. Where are the Senate comes out and say, there's still something we could do with the Republicans. We could have some bipartisan agreement or basically we have two years of stasis. I think we're going to have two years of stasis. We may see them try to move forward in some smaller areas, say, and this isn't a small area, but say something like Ukraine, where we have seen bipartisan support, but it's going to be hard given where both the liberals are and the conservatives. So those areas they may try, but I think for the most part, we're looking at stasis. But Rick even in Ukraine, they're going to be some sharp pencils brought out to figure out exactly what do we spend this money for and what do we need to spend going forward? You know, look, I mean, Republicans will start acting like Republicans again and actually care how much spending is happening in government. And that will include the packages that are coming from the administration to go to Ukraine. The reality is that all that money is being spent through defense contractors who have facilities and all their districts. And so the reality is, once you really start getting into power, and if the Republicans do win in the house, they're going to have to start acting responsibly. Well, so let's go to some investment advice here, Rick. And I said, that means if the Republicans take control of one or both houses, is that good news for the defense industry? Yeah, I certainly wouldn't short text drawn. In other words, they're supplying an enormous amount of equipment, the big defense contractors to Ukraine right now. When we say we're spending money in Ukraine, it goes to them, they build the missiles and the defensive systems that are being shipped over there, and it's American jobs that are being benefited from that. It's not like the money is actually going to the Ukraine unless it's direct economic assistance, which by the way, nobody is currently complaining about. And what good news could the Democrats get out of this Genie? You know, out of tonight, you mean? Well, I think there are some bright spots. You see Wes Moore, you know, he's likely to be elected governor, for instance. So you do see some bright spots already, even though the voting hasn't started, I think it depends on the margin that they hold the house to. And if they retain the Senate, that's going to be good news. And all of that money in the defense industry, that was under the Democrats. That was under President Biden and the Democrats in the House and the Senate with bipartisan support. I'm sure they'll get credit for it too. We can wish. Thank you so much for Bloomberg political contributors. Rick Davis of stone court capital and Jeannie Chan Zeno of ionia university who will be with us all night long as we cover these midterm elections. Coming up, we're going to go to Georgia for the Senate
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"And radio. I'm David Weston. The latest federal election commission numbers are in and they confirm what we might have expected. Donors, especially from Wall Street, are stepping up in the Senate races. Our Wall Street votes reporter should only basic is here to take us through the numbers. Thank you, David. We're going to zero in on the Senate leadership fund because it's a super PAC with close ties to Republican Senate leader Mitch McConnell, and I drew in tens of millions of dollars from billionaires, including Citadel founder, Ken Griffin, and Blackstone CEO Stephen schwarzman. Now, two of the largest donors in the party. That's according to federal election commission filings released over the weekend. The pack is focusing on campaigns in battleground states in an effort to reclaim the Senate for the GOP. And it's so large that it accounts for 45% of all Republican advertising spent in those battlegrounds. It's raised over a $100 million in the third quarter, a cloning to Bloomberg's Bill Allison. And in a separate Wall Street Journal analysis that shows that democratic campaigns across ten heated races have out raised Republican counterparts. Democrats have also spent more in Arizona and Pennsylvania, but Republicans are out spending in the key state of Georgia, where democratic candidate Raphael Warnock has raised more money than any other single candidate. According to the FEC website. And what are all these campaign ads about David, everything from abortion to immigration, but another Wall Street Journal report shows that thousands of ads have focused on inflation since January, because it's an issue that's unlikely to go away as the election approaches, but shelter, food, and medical costs remaining elevated through September in the last CPI readings that Americans are going to get before placing their votes next month. So, I thank you so much for our latest installment of Wall Street folks at Chanel basic, who reports on financial issues all across Bloomberg. We are still with now our political contributors, Rick Davis of stone court capital and Genie Chan xeno of iona university. So Rick let me put you on the spot. I'm sure that these big donors, the likes of Ken Griffin and Steve schwarzman, like their candidates a lot. But what do you think they might be investing in here? Why do they think it's so important for them that the Senate turn over to the Republicans? Well, these are first of all, two of the biggest Republican donors all the time. So this is not a headline other than the large S this time is extraordinary, right? They're really doubling down as you say, I think what they're looking at is a chance to have Republicans take over the House and the Senate. The house has been kind of a foregone conclusion by most analysis for quite some time, even though the margins might be slimmer than anybody expected. But the Senate, all of a sudden it's starting to look like it can have a Republican margin. One, maybe two or three seat margin where they can actually transact businesses Republicans. And I think that's what these individuals and others are seeing as a way to correct the Biden administration on economic policy. Stop bad things from happening, but also have an agenda of their own. And I think this is where they're Dublin down. Well, jeanie, I'm curious about that. Stop bad things from happening if the Republicans were to take the house, which most pundits think they're likely to do. Why do they need the Senate? Because on the other hand, they can't get much affirmatively done on economic policy. Can they, as long as we have a Democrat in The White House? No, it'll be tough for them to get things done because it would have to then be bipartisan and bicameral and that would be a stretch if Democrats maintain the Senate. You know, even if the parties are fairly evenly split in the Senate and the Republicans have it, but just narrowly, they won't be able to get to the 60 votes they need, and then of course they're confronting potential vetoes from a democratic president. So it's going to be tough all around. And I think what's so fascinating to me about the amount of money that we're talking about here is the limited number of voters that they are trying to persuade. I mean, you were just talking about what Frank luntz said, we look at the very small number of independents and persuadable voters out there at this point, and you've got large numbers of dollars going into that. And one person I talked to said, you know, it's almost as if we haven't figured out in campaign spending how to do it in a way that makes any kind of economic sense. They're throwing money at these ads, and those ads are reaching by some estimations only 30% of voters, most of them not persuadable. So I think in this day of social media, there's a long way to go on making this campaign advertising more targeted and making it work in the way people intend to are donating. And I think that's a big bridge that's gotta be crossed as we move forward. Rick, I don't know, but I think Jeannie might have been pointing her finger at you sort of. You run some of these campaigns. You've spent some of this money. Not Rick. How targeted is it? Because you hear stories about even on a national election like a presidential, it's down to a handful of zip codes. That's not across the nation. Can they get that specific as we go into Georgia? We go into Pennsylvania. We're going to Nevada. Well, there's no question that there are fewer swing voters in there used to be, right? We've seen that mobilization in the United States. But also turning out your own vote is become a lot more complex. There are a lot of things that you got to do to try and get people out of their house or to mail in that ballot. And so that's what this targeting effort is all about is slicing and dicing the electorate so that you can get the right message to the right person. The amount of data that people have today on voters is enormous. And so you can literally target those messages specific. Each message specific to each voter, especially on social media. I mean, half of these budgets you see on media are social media. It's not just TV broadcast and radio. And so the amount of money that's being spent in the social media delivery mechanism is really elevated a lot. Jenny, you're a political science professor. So does it work? Do we know whether it works? I mean, it sounds really good. We have a lot of data we know all this data, but I think I've seen a lot of situations where data turns out a Tower of Babel. Yeah, it doesn't always work and we know that. We know, for instance, in 2016, Hillary Clinton outraised in her campaign outspent Donald Trump by a lot, but to Rick's point, he was able to use his messaging apparatus on social media and elsewhere, and he was able to narrowly pull it out, not the popular vote but the Electoral College. You know, normally you can say the probability is the campaign that has the most spending is probably gonna win, but there are always those exceptions. So we do see a lot of money. And you know, the money is stretched also as we look to the lawyers that are going to be trying to fight these cases post the election day. So a lot of money out there and campaigns and elections today to try to hang on to these very potentially narrow Senate majorities, if you will, and house majorities at this point, not to mention the state and local races as well. It's a good suggestion to you. We better start focusing on those lawyers and those lawyers. We always like to pay the lawyers. Like you, David. Yeah, exactly. I used to be. Thanks so much for political contributors. Rick Davis has stone court capital on Jeannie Chan xeno. University. Still had stocks surging today on the heels
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Being said, his major accomplishments short of just a couple that he's done just recently through reconciliation have really been bipartisan accomplishments. This massive bill for infrastructure was done with Republicans and Democrats in lockstep. And many other legislative achievements he's been able to get through. So he avoids wedge politics. That's who he is, but I think that's been disappointing to many Democrats who actually want to impose accountability on these manga Republicans, right? They want to prosecute these guys. They don't want to put a handout for them. And so I do think he's running a little bit counter to his own party's interests who sort of got a little bit of taste of victory with his election and would like to put the Republicans on the trash heap of history. I had a near open to see whether or not he would say anything along the lines of a conservative Supreme Court, that didn't happen. Talk to me, Rick about the timing. Is he setting the stage for another term? Is it too early for that to happen? Is this more about the midterms? He's got the wind at his back right now. Yeah, he's got the wind in his back. I think Democrats have convinced themselves that they've got a shot at maybe even leveling the playing field in the house and winning the Senate and there's good reason for that, right? They're pulling data looks good. They've had these great legislative achievements. And so this is, I think, purely focused on trying to get a ticket through the midterm elections and hold on to power because they know if that house flips to the Republicans and it doesn't matter by one vote or a hundred votes, then their legislative agenda is gone. They'll be not able to implement anything. It'll turn into all kinds of investigations by Republicans, and it'll be chaos. And that will not be good for Biden to think through a second term, right? And so this buys him an option if he's able to find success in the midterm elections. And this was all about what are the stakes of the midterms, the stakes are. You can descend in a darkness through the manga Republican agenda, or you can stick with me and see these great things I've achieved and we can continue to do it together. Just briefly in 20 seconds, so it sounded like a few moments ago that you were suggesting that the insurrectionists should not be hauled into court. Well, I mean, you'll notice he didn't say much about any of the legal activity, right? I mean, he clearly put the maga Republicans on extreme list. You know, he didn't take the language on fascism that we heard from him earlier. I don't think there's any doubt that the party and his administration would like to see people who have violated the law, whether it's the president of the United States or people who broke into the capitol to be prosecuted. But he's done a good job, I think, as president of staying out of the legal fray and preserving his options for the future. Yeah, that's respecting the constitution and the rule of law, I suppose. Anyway, Rick, thanks very much, Rick Davis, Bloomberg, politics, contributor, and partner at stone court capital. The time is 34 minutes past the hour. Let's get a check on the markets with Doug. Hey, so we're looking at kind of a mixed picture on early going across the apac region, a little bit of weakness coming through in Japan, Brian, and that yen now showing a little bit of strength we are on the weak side of one 40 here at one 39 90 thereabouts, strengthening against the greenback of around two tenths of 1%. The big event is tomorrow morning 8 30 a.m. Wall Street time. That's when we get the July employment report. Today we had some upbeat economic news and as a result of that yields pushed up across the US Treasury curve, particularly at the long end where the ten year right now at three 25, we were up about 6 basis points in New York trading. The dollar rallied quite a bit. We had the Bloomberg dollar spot index setting a record high. We were up around 7 tenths of 1%. The dollar showing a little bit of weakness now as the yen strengthens. Crude oil recovering, we had a great deal of weakness in New York trading. We were down more than 3%. A lot of the market psychology is really been dominated by worries over a week to mad, especially if you consider the lockdown in the Chinese megacity of Chengdu, WTI right now is at 87 66. Again, the nikkei weaker by about to two tenths of 1%, this pullback being led by energy, although as I just mentioned, oil is now recovering, insult the Cosby rising three tenths of 1% and in Sydney. We have the ASX 200 down about two tenths of 1%. We'll have more on markets in about 15 minutes, Brian. All right, the time is just about 36 minutes past the hour. It's time for a global news. While we've just been listening to President Biden asking Americans to reject political violence and maga Republicans and that the U.S. should be a Beacon of hope both domestically and internationally. For more let's get to the newsroom and Bloomberg's Denise Pellegrini Denise. That's right, Brian, and President Biden making that appeal from independence hall as we've been talking about in Philadelphia. Too much of what's happening in our country today is not normal. Donald Trump and the Republicans represent an extremism that threatens the very foundations of our republic. Now, I want to be very clear, very clear up front Not every Republican, not even a majority Republicans are mega Republicans. Not every Republican embraces their extreme ideology. I know, because I've been able to work with these mainstream Republicans. But there's no question that the Republican Party today is dominated driven intimidated by Donald Trump on the Republicans. And that is a threat to this country. And Biden also touting his progress on infrastructure, prescription drugs, gun safety, climate change, and encouraging people to get out and vote, vote, vote. Meantime we're hearing that Biden has not been briefed on the Department of Justice's latest filing on the classified documents found at Mar-a-Lago, White House press secretary karine Jean Pierre says The White House won't be discussing this matter either. We are just not going to comment on the investigation. Anything any underlying pieces of the investigation, any content of the investigation. In the meantime, no immediate ruling from that judge in Florida today on former president Trump's request for a special master to review those documents. Retired New York City police officer Thomas Webster has been sentenced to ten years in prison for attacking the U.S. capitol, and former president Trump meantime promising full pardons and a government apology for rioters if he is elected president again. Meantime, a Wall Street Journal poll says independence are now tilting toward Democrats in the upcoming midterm elections. That may have been President Biden's audience, as we've been talking about when he addressed that crowd in Philadelphia, just a few minutes ago. We clogged military exercises between India and Russia underway John Kirby National Security Council coordinator for a strategic communications calling it very troubling for the U.S. every nation has to make their own decisions that India's got to make its own decisions about its bilateral relations with other countries and certainly that countries that it's going to exercise militarily with. And Kirby unbalanced power there. Hong Kong targeting an end to hotel quarantines in November that were in place because of COVID and the head of the CDC backing Pfizer and Moderna omicron variant COVID vaccines those new shots could be in people's arms starting next week. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 cut trees. In the news reminded east Pellegrini, this is Bloomberg, Brian. Denise, thanks very much 38 minutes past the hour it's time for sports. Dan
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"That Bloomberg quick tape. This is a Bloomberg business line. Stocks waiver today as traders assess the outlook for corporate earnings amid the threats of a hawkish Federal Reserve, scorching inflation and a looming recession. The S&P stayed little change after last week's rally and has now moved up a bit. The NASDAQ is underperforming with giants like Apple and Google's parent Alphabet on track to report results this week. The yield on ten year treasuries climb back above 2.8% while the dollar fluctuates. Laurie Calvin and at RBC capital tells Bloomberg, she's continuing to watch stocks to see how they react to these recession fears. I am more interested these days in adding on to rebound trades. We think that defenses are overbought and overvalued at which point in time. If you go through the HDFC function on Bloomberg, which is something I do quite frequently, there aren't that many economists that are actually calling for an outright recession the voices calling for the recession are quite loud. And if you look at streak consensus economic forecast, it's really more for something coming close to contraction in the fourth quarter. S&P 500 is up a quarter of a percent up 11. The Dow's up three tenths of a percent of 97 and the NASDAQ down to tenths of a percent down 21. The ten year is down 1730 seconds the yield 2.81%. West Texas intermediate crude is up 1.6% at 96 20 a barrel. Comics gold was down 6 tenths of a percent of 1734 ten per ounce. The dollar yen one 36 68. Let's take a look at the Euro is at a dollar O two 20 in the breech pound dollar 2050. Silver right now is down 9 tenths of a percent at $18 43 cents per ounce. That is a Bloomberg business flash, I'm Greg Jarrett, balance the power with David Weston continues on Bloomberg radio. This is balance of power on Bloomberg television and radio. I'm David Weston. It is Monday, which means it's time for our look forward to the midterm elections. This November, with our political contributor, Jeannie Chan Zeno of iona university and Rick Davis of stone court capital, so great to be back with the two of you here. I want to start in Maryland just because we do actually have a democratic nominee for governor, which we didn't last time we talked. And also, we saw the current governor, Frank Hogan over the weekend, just really go at the Republican nominee Cox. What is that all about, Rick? Well, you know, they hate each other. Cox versus Hogan been going on a long time. Cox a delegate tried to impeach Hogan. Hogan had his own candidate. For the race, it didn't win. And look, even ideologically, Hogan is a mainstream Republican. Someone called him a moderate just because he's not a right wing nut. And Cox is a right wing nut. I mean, he believes in all these conspiracy theories. He thought Pence was a traitor. And so you can imagine why Hogan would say, I will do everything I can to bar him from office. Yeah, and you know, when we talk about this sort of battle between the sort of moderate wing of the Republican Party or the establishment and Donald Trump, this is one of the cases in which Donald Trump's endorsed candidate has won, and yet if you listen to Larry Hogan and most Republicans and I would defer to Rick on this, they'd say there's really not a chance for Cox to win. So to Hogan's point, they have now lost this seat, which was an important seat for them to try to retain. And I think we're seeing shadows of this across the country, potentially not only in some gubernatorial races, but in Senate races as well if you look potentially at Ohio, Georgia and Pennsylvania. So it is a real concern for moderate establishment Republicans when they get these sort of far right conspiracy theorists as Hogan called him candidates who can't win in more purplish states and districts. So Rick, I'm not sure that vice president Pence would want to be called a moderate necessarily. But I do wonder about potential Civil War breaking out. We now have the former vice president speaking today in Washington tomorrow we'll have the former president Donald Trump and they don't seem to like each other anymore. Yeah, they haven't even spoken since January of 2021. And the reality is that Pence has a view of Republican Party moving forward and contesting and winning in the 2022 midterms and again potentially with him on the ticket in 2024. And he is going to say specifically that he doesn't think we got to keep looking backwards like Donald Trump does. He may not mention Donald Trump, but looking backwards into the 2020 election. That's history that's in the books. And he wants to move forward and Trump is a part of a party that by grievances requires everybody who supports Trump to put up with this conversation about relitigating the 2020 elections. Yeah, so Rick, I saw actually on this week yesterday, we saw the former governor of New Jersey, say that Trump is the party of me rather than the party of us. Is that a fair description of the issue going on with the Republicans right now? Yeah, that's one of them. I mean, it's really a cult of personality with Donald Trump. I mean, any given day in his administration, he was a moderate, a conservative and a liberal. And so it's very hard to know what a party platform is for other candidates down ballot. In fact, the 2022 2020 Republican convention didn't even have a platform owing to the fact that it's all about Donald Trump. And so I do think today when Pence talks about what he thinks a conservative should be moving forward, he's starting the process of relitigating the party platform
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Another look at market action for you in about 15 minutes. Yvonne? All right, let's take a look at global news now. Well, U.S. president Joe Biden has tested positive for COVID-19 January 6th committee will also focus on what Donald Trump did or did not do during that capital uprising. Let's bring an Ed Baxter working on those stories from San Francisco. Hey Ed. Yeah, exactly right Ivan. Let's start with Biden here, though, he released a Twitter video earlier today. Hey folks, yes you heard this morning I tested positive for COVID. But I've been double vaccinated, double boosted, symptoms are mild, and I really appreciate your inquiry when you're concerned. And also at The White House, the COVID response coordinator doctor Ashish jha says so far running O some fatigue, no fever because the president is fully vaccinated. Double boosted. His risk of serious illness is dramatically lower. He's also getting treated with a very powerful antiviral. And that further reduces his risk. And White House spokesman Jean Pierre says there will be a daily update. She says they have not identified the variant as of yet, but that he is doing very well. January 6th House committee holds a prime time hearing focusing on Donald Trump's activities or in activities during the siege of the capitol. You'll hear the number one 87 that I let's delve into a joining us live is Bloomberg political contributor and partner at stoneheart court capital, stone court capital, and co superstar on Bloomberg sound on and balance of power Rick Davis. Thanks, Rick. For working overtime with us. So the focus today is what Trump did or didn't do during there was 187 minutes. That's right, Ed, the 7th of 7 hearings originally scheduled by this committee is going to delve into what did he do and when did he do it? That 187 meetings is going to be chronicled in stark detail from the two 24 tweet where he said Pence didn't do enough and it didn't have the courage to overturn the election to the four 17 tweet and video that he released from the rose garden to telling everybody to go home. What happened between all that time? Who was he talking to? What decisions were being made? We pretty much know what he didn't tonight we'll expect to find out what he did do. Yeah, and the preview is one of the previews that was shown earlier by the committee to that kind of a teaser. Basically implied that he sat in front of four screens of TV in the dining room at The White House. That's right, he's got a private dining room right off the Oval Office and has been testified earlier by Kayleigh mcnamee, a White House aide, is that from what she could tell, he just stayed in there the entire day watching the coverage. People who saw the coverage with him at the time said violence was all over the television screens. So the idea that he didn't think of this as anything other than a violent insurrection is a little surprising to a lot of people. But tonight start when it says, Matthew putting juror deputy national security adviser and Sarah Matthews was a deputy press secretary are going to enlighten us on what they're witnessing inside The White House during that a 187 minutes. Also, what they had hoped to have and won't have our text from the Secret Service so alongside this running parallel today, the inspector general home security announcing a criminal investigation into those missing texts. Yeah, this one is incredibly confusing, Ed. I mean, the committee had originally asked for the information from the Secret Service, obviously they knew what was going on at the time. It was happening. And they Secret Service did submit all kinds of responses. Evidently what was missing was a batch of text that had evidently disappeared during a telephone reboot and so there's a lot of controversy around that secret services claiming. There's nothing new in those texts that are disappeared. The Homeland Security inspector general saying we can reconstruct those tech, so we're going to have them sooner or later, but it really has added a call to the Secret Service behavior during the incident and the run up and follow on to the insurrection. Rick, thank you so much. We'll be checking back with you later, and the hearing does begin in about 20 minutes. If it's on time, 20 minutes from now, that is Rick Davis with stone court capital. He's a cofounder co partner there, and he's also on Bloomberg sound on imbalance of power. A regular Bloomberg contributor in San Francisco, I'm Ed Baxter, this is Bloomberg. Add nice one there. Thanks very much. 38 minutes past the hour it's time for global sports. Let's get to Dan Schwartzman sedan Barcelona somehow raising more funds. Well, you know, they've signed all these big names, right? This off season and people said, how are they paying for it when they're €1.3 billion in debt? Well, this is how they've now sold 15% more of their domestic television rights over the next 25 years to global investment firms 6th street for around €320 million with the firm now in possession of 25% of those rights after they had bought 10% at the end of June. Bars is using the money to register summer signees such as Robert Lewandowski osmani dembele, rafinha and others, 6th street is expected to make around a €1 billion over those 25 years. Sky Sports in Germany reports that Russia Dortmund is weighing whether to bring in former Atlético Madrid Ford Luis
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"We'll have a lot more on the trip coming up as senator Joe Manchin back at home puts Democrats reconciliation hopes on ice and the chip act may move all on its own now we'll discuss it all coming up with congressman John katko. Republican from New York and with our panel, Al modern democratic strategist joined by Rick Davis, of course, Bloomberg politics contributor partner at stone court capital later on, we turn to COVID cases surging in cities around the country, thanks to a new sub variant. I spoke earlier today with doctor Anthony Fauci and later we will discuss the return to work here in New York with Sally bakewell of Bloomberg news. Let's get up to speed on the markets before we go any further and update now from Charlie. How are you? Thank you very much and let us extend that fist bump theme because that's what the bulls were doing today on Wall Street the Dow, the S&P and NASDAQ, big day, bottom line losing week, but today's stock surged, in fact, we had stocks closing at the best level of the day. Banks front and center, Citigroup case in point surging 13.2% after earnings, Wells Fargo after earnings up today by 6.2%. The stock market snapped back at the end of a dizzying week as traders reduced their bets on a bigger fed rate hike this month, while sifting through a raft of Wall Street earnings and hoping for signs of capitulation. S&P up today by 72 up 1.9%, the Dow advanced 658 of 2.1% as stack up 201 up 1.8%. Ten year yield 2.91%, the curve remains inverted to two year yield 3.12%, spot gold 1708, the ounce, lower today by one tenth of 1%, crude up 1.9%, 97 59 of barrel, I'm Charlie pellet that Joe Matthew is a Bloomberg business flash. Thank
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Lowest in 19 months, energy and mining stocks plunged as commodities declined dragging the S&P lower. Then escarpment endowment chair at the university of Akron and former publisher of the gartman letter tells Bloomberg, investors right now are more concerned about recession than inflation. And I pay a lot of attention to what happens in the brain markets more than perhaps most other people do because they are still international in scope, but the news had been because of the war in Ukraine. Everybody wanted to be bullish at the green markets and they clearly topped out and gone to a lower concern. So I think recession is a far greater concern at this point. S&P 500 is down 1.3% down 49. The Dow Jones Industrial Average is down 1.7% down 521 of the NASDAQ is little changed up 5. The ten year is up 25 30 seconds with a yield of 2.78%. West Texas intermediate crude is down over 8% at 99 67 a barrel. Comex gold is down 2% at 1765 90 and ounce. The dollar yen won 35 85. The Euro one O two 45 in the British town, a dollar 19, 23. That's a Bloomberg business flash. Balance of power continues right here on Bloomberg radio. This is balance of power and Bloomberg television and radio. I'm David Weston. Every week we check in on midterms 2022 with our political contributors, Ricky Rick Ricky Davis, Rick Davis of stone court capital and Genie Chan xeno of iona college. So Ricky, I'm just renamed you. I'm sorry about that. It give us a sense. This far in the primaries. What do we know that we didn't know at the beginning of it? Are there any trends that you're identifying we're seeing? Well, we continue to look at which races Donald Trump can influence, right? I mean, he's got his own cast of hundreds and hundreds of endorsees and we keep track of who's winning and who's losing. And right now I'd say it's still a little bit of a temple. He's had a bunch of wins, but also some very high profile losses. So that's one aspect of it. Two is, are there any races that are going to particularly help Republicans in the Senate? And I'd say right now, that's the biggest question. Most pundits have the Senate as a jump ball and that, of course, has enormous implications on the second half of Joe Biden's term. So those are the two things I'm keeping my own. I would say one other thing is there's some really interesting governor phrases that depending upon the primaries are going to make those potential real problems for Republicans. Yeah, and I would just add to that. I think the biggest surprise of the season quite frankly has been a year that started out very, very badly for Democrats quite frankly, they had sort of lost all hope, has to a certain extent turned around, Rick just mentioned the Senate is now a toss up. It is possible that Democrats could hold the Senate. This house still very much remains for the Republicans, but because of the Supreme Court decisions because of January 6th because of Donald Trump sort of reinserting himself into the national conversation, Democrats are feeling a little bit more hopeful than they otherwise would have been. And we saw this in a special election out in Nebraska where I know it sounds silly, David, so you're gonna chuckle, but Democrats lost. They did lose the special election out there, but they did better than expected. And when I messaged this out, Rick Davis said to me, well, how is that a good sign? Well, you know, in a year like this, it's a hopeful sign, these candidates were pretty much generic candidates. It's a district that Donald Trump won by 11 Republicans held it by 5. So for Democrats, that's a hopeful sign at this point. So, Rick, I don't want to chuckle at our friend jeanie here, but at the same time, that was a test on pro choice versus pro life, right? I mean, that was number one on the agenda on Nebraska. And the pro choice person lost. Lost by as Ginny said 6 points. And I would have thought it would have been closer, frankly, because this is the one election we can look at that came on the heels of the road decision by the Supreme Court. And it's a suburban district. It's basically Lincoln, Nebraska north. And you would have thought in a special election, which tends to favor low turnout that the activists who were pro choice activists would have come out in droves to register their protests against what the Supreme Court did by voting. And there's no evidence that that happened. And so the reality is it's not a good indication for Democrats coming up. It's not a seat that should actually be in play at all other than the fact that the most former member of Congress, fortenberry, wound up getting indicted and convicted of lying to the FBI. So that's never a good thing for your party to power in that district. But no signs yet that the Supreme Court's influencing these specials. Jeannie rush rebuttal time. I want rebuttal time, Rick Davis. I just want to remind everybody inflation is over 8%. The president's approval ratings are under 40% and in a district that Trump won by 11 Democrats held it to 5 and oh, by the way, the Republicans outspent the Democrat in that district ten to one on the airwaves. So for all of that, she got within 6. That's a good sign for Democrats in 2022. I'm done David. No, no, that's excellent. But by the way, I think the Democrats have a new strategy now. It's sort of like the Doolittle raid when they went and dropped a few bombs on Tokyo. We have Gavin Newsom taking airtime over in Florida. This is a little bit of what an ad for Gavin Newsom from California ran in Florida. It's Independence Day. So let's talk about what's going on in America. Freedom? It's under attack in your state. Here Republican leaders, they're banning books, making it harder to vote
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Power on Bloomberg television or radio. I'm David Weston, political contributors, Rick Davis of stone court capital and Genie Chan xeno of an oncologist who stayed with us when we were just about to come out at 1 o'clock Eastern Time to the next session of the select committee in the House, investing in the events of January 6th and is being presided over in part by Liz Cheney Republican congresswoman from Wyoming. And one of the questions asked eugenie first is, what is this doing to a Cheney in Wyoming? They're sort of like royalty out there, but she's behind in the polls. She is way behind in the polls against her opponent hegman. And, you know, it looks unlikely that she would be able to win this, but I was just talking to somebody who said, you know, either way, this is a winner for Liz Cheney. Either she beats hegman and it's a surprise victory, or she doesn't, and she moves on from her position in the house to national prominence and has a bigger role, maybe not in 24, but going forward, leading the Republican Party away from the Trump era. So there's a school of thought which says this could be a real winner for her, and that she's really become a household name. And particularly attractive to moderates and Democrats. So Rick, there's a piece on the Bloomberg actually today talking about this race and saying that the Chinese strategy, this one, almost has to be getting Democrats to vote for a Cheney in Wyoming. Is that sort of hell freezes overtime? Not really, David, I think that's actually a legitimate strategy because when you look at it, there's no democratic running in this state. She has to hope to peel off some Republicans from frankly her performance off of the January 6th committee, which has been good so far. And yet the problem, the hurdle is that there are only like 30% of the voters in the state or Democrats, 70% of them are Republicans. So she's got to hold enough Republicans in that 70% to have a base and then hope that basically she gets the lion's share of those 30% Democrats. And it could be a lot closer than people think because of the open nature of the primary there. So Rick, I'm curious about these hearings themselves and what effect they might have, if any. I feel almost like we're seeing a third impeachment trial basically for president Trump because we've already been through this twice. I'm not sure anything came out of the first two. Is anything really going to last thing going to come out of this? Well, I think one setting the record straight has been hugely helpful. So history will record this as the definitive look at January 6th. Two, I do think that as they diminish the impact that Donald Trump has in this election cycle and potentially 2024 by showing that it's his own people that are indicting him. It's the interviews with the administration personnel, the secretary of the attorney general, the chief of staff. I mean, all these people, including his own daughter, have basically indicted him for monkeying with the election. And I think that actually helps other candidates within a Republican Party and maybe even potentially enough along the way to help Liz Cheney. Yeah, and I would just add to that. I think as we listen to and watch Donald Trump's reactions to the hearings, you could tell that he is concerned that this has had a real impact. He has been critical of Kevin McCarthy for not having a Republican out there after all of this. He has talked about the fact that he would like to respond to it. So I think he feels a real concern. People in the inside of the Trump circle say potentially he announces a run for 24 and not to get back to that again, David, but he announces a run for 24 in an effort to get over this. So I think there is a real concern that this is hurting his call that the 2020 election was stolen from him if nothing else. What isn't that the biggest problem for Donald Trump because it seems like he's got one issue. And that's the 2020 election. I mean, remember when we went back to Georgia and the damage he did in the Senate, I'm not sure he has another issue. Can he forgo that issue and still run? Well, the irony is that he's got a lot of things he could actually be talking about right now, competitiveness with China, his policies versus Biden. I mean, there are a load of different contrast with Democrats, but he chooses to continue to this day to make the big lie his platform. And I think this committee has shown that there is a big lie. You'd almost think he can't help
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Doctor down ahead of a busy week for big tech earnings while those in Europe and Asia are also lower this all as China's COVID outbreak continues to compound fears sparked by faster Federal Reserve tightening bonds are up A flight to havens looked at the global government bonds with a yield in the U.S. benchmark note down 13 basis points The dollar extended an advance while the Euro fell after Emmanuel Macron's win in the French election removed the key risk for market gold shed nearly 2% Federico pictet asset management tells Bloomberg COVID and China are both problems for the markets All companies that would be more linked to China to China consumer First thing and second thing you know to companies that were more linked to growth we know that we had a fantastic growth last year is going down but you have revision even further and maybe these companies that are too sensitive to growth would underperform in there And finally we have small margins that are squeezed by higher committee's prices which suffer as well The S&P 500 is down 1% down 41 Dow Jones Industrial Average is down 7 tenths of a percent down 245 and the NASDAQ is little change down 9 The ten year is up 30 30 seconds with the yield of 2.78% West Texas intermediate crude is down 5 and a half percent at 96 50 a barrel while comics gold is down 1.9% at 1898 even per ounce The dollar yen one 27 70 the Euro a dollar 7 12 and the British pound is a dollar 27 25 silver is currently priced down 2% That is a Bloomberg business flash balance of power continues now on Bloomberg radio and Greg Garrett This is balance of power on Bloomberg television and radio I'm David Weston It's Monday which means it is time for our balance of power update on midterms 2022 with political contributors Rick Davis of stone court capital and Jeannie of iona college So we normally talk about house races or Senate races We thought we might start with governors races We had a big debate over the weekend between the former senator mister perdue of Georgia and the current governor mister camp So Jeannie what about this debate It was all about exactly what had been said about in two mister Trump I think It really was It was a very contentious race debate rather in a very contentious race although Kemp is leading by about double digits But of course Donald Trump has endorsed David perdue and Brian Kemp is getting a lot of support from people in the maga world And so you know it was a contentious debate I thought the most fascinating things was that 8 Stacey Abrams really loomed large over the debate You had David perdue reminding everyone that Brian Kemp beat her very very narrowly and you also then had Brian Kemp coming back and saying to David perdue you couldn't beat her in a general election because you couldn't even beat when you were running for Senate You couldn't even beat Warnock So they went back and forth trading barbs on that and then of course trying to run to the right to prove their conservative bona fides and the fact that they would be better in the general election beating a more liberal Stacey Abrams I would say David the only thing that came out was Stacey Abrams probably high 5 and everybody in her campaign because the two Republicans one of which will oppose her just spent that time just hauling off and socking each other in the face And I don't think anything productive came of that debate I don't think it's going to change any of the numbers there because I think it's exactly what Jeannie said I mean I'm attacking you for beating Stacey Abrams last time I mean I figured that one out Is that a real attack line or is that just sort of bizarre It strikes me Rick that we're spending a lot of our time covering this midterm not about the racism themselves but what they say about president Trump former president Trump is an endorsement He may be in trouble in Georgia He was out campaigning for JD Vance for the Senate race up in Ohio in the meantime we just had a headline across the Bloomberg that he apparently mister Trump has been held in contempt of court For failing to respond to subpoenas in a New York State probe up here So are the Trump is it too early to call it quits on the Trump endorsements Rick Absolutely not In fact I think everybody ought to just buckle their seatbelt because maize the month where a lot of these Trump endorsements are going to land in the ballot box And we're going to find out whether or not his endorsement makes sense I mean JD Vance there's no question his race is a different race now that he's got the Trump endorsed me maybe leading substantially by some polls that are coming out just this weekend And in Georgia for instance Herschel Walker you know it looks like he's going to run away with the nomination And that is a complete invention of Donald Trump So we're going to see the scorecard for the first time on Trump endorsements in May and ought to be very interesting and frankly telling for a future presidential run by the former president potentially So Jeannie I'm not sure he's going to endorse him for Speaker of the House if the Republicans win but certainly president Trump has said he's not going to stand in the way of mister McCarthy Is he passed that danger Is there a chance of being House speaker if in fact Republicans win Because last week when we were talking he had that bad tape that had come out For Kevin McCarthy it was a very bad week in which he was caught lying essentially about what he had said and then the tape came out You know I thought it was fascinating that former president Donald Trump told The Wall Street Journal over the weekend when he was asked whether he would support McCarthy for speaker of Republicans take the house He was sort of non committal as you can imagine And McCarthy really needs Trump's support if he is going to hold that caucus together My guess is that this tape is not going to matter in 8 months when they vote for speaker but I do think it was a very bad week for Kevin McCarthy because it shows that he's saying one thing in private and one thing in public You know I was reminded of John Kerry windsurfing in the 24 campaign that ad That's a little bit of what we're seeing about Kevin McCarthy before he even has a chance to run for speaker And it doesn't bode well for him And of course speaker is going to be a very tough job with this very big raucous caucus He would have to leave if he's elected Rick is there a danger in the Republicans measuring the drapes a little too soon for their majority in the House We now have Patrick mchenry saying okay I don't want to be the whip I don't want to be the majority of whip I'm happy to run the finance committee Is there a risk here that are getting a little ahead of themselves Well I actually think the Patrick mahat mchenry decision to not run for is an interesting one because he was kind of a shoe in for that But maybe it's because of all the problems that are happening in that caucuses is Genie said I do think that Republicans still continue to be in a very favorable position I kind of.
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"Biden was certainly happy with the surprising jobs numbers out on Friday and he used the occasion to town how well the country is doing America's job machine is going stronger than ever Fueling a strong recovery and opportunity for hardworking women and men all across this great country America is back to work For their take on whether the administration can refocus its message we welcome now Bloomberg political contributors Rick Davis of stone court capital and Genie Shandong college You know let me start with you We watched President Biden on Friday Please happy with these numbers He didn't limit himself to jobs though He basically did a tour of his entire economic view of the world there What are they trying to do to get a message across the American people but maybe these are people haven't gotten yet Well you know you're so right because there we thought he was going to talk about the surprising job numbers and he took us from top to bottom about everything his administration is done Friday was a very good day for him He had a good week last week and prior to that he had the GDP So we see the administration trying to focus American voters on all the positive numbers that are coming out and to sort of turn them away from some of the negatives like the very high cost of home buying and the low number of homes available The certainly inflation issue And when they go to the grocery store all those things that people are seeing day to day the administration's going to try not to focus on those and instead to focus on the really good things that have happened under Joe Biden He was very clear to say you've never seen such job growth because it's not happened in 40 plus years and he's right about that Complete with a bar chart That's all the information So Rick Davis one of the things I have learned you've known for an awful long time is it's important to listen to what people don't say is what they say He talked about child care various things on Friday He never mentioned Bill back better Didn't use the words Never mention Bill back better He never really got into the inflation story They're trying to present the positive view And look I get that He got something that he didn't think he was going to get a good jobs report And he wanted to do a little bit of victory lap But this is one of the angriest voting populations I've ever seen going into either a general election or midterm Over 70% of the public say that the country's on the wrong track and most of them blame Joe Biden for that And they're all unhappy with the economy So at some point he's going to have to address the issues that are driving people to the negativity Yeah and just to follow up on that I was going to say the critical component of this of course is addressing the pandemic That has been the root cause of inflation That has been what the administration promised to handle when they came in So he's going to have to keep his eye on that He got very good numbers on that last week And he's going to have to then also focus on this competitiveness Bill that's come out of the house and is stuck in the Senate right now And to try to address some of the bottlenecks in the supply chain So I think the administration is on the right track here but he does have a long way to go And of course all of this driving down his ratings which are critically important to what happens in November Well I wonder Rick the ratings depend how much on just picking winners rather than picking losers because the Biden administration thus far has picked some pretty notorious losers not things that maybe shouldn't have been done but that didn't have a chance of getting done I mean do you remember wake back to the summer and the justice and policing act And well that was priority one didn't get done The election reform priority one we're going to go down to Atlanta and talk about didn't get done How does he pick some winners that he can say whether they're big or small or indifferent there's something I actually got done You know they need to let Joe Biden be Joe Biden You know the winners in his administration have been the bipartisan legislation has come out on things like infrastructure reform I mean he could campaign on that just regardless of anything else between now and election day and actually have a much better chance of reaching those all important voters who are working class voters and the experts of cities all around the country Without them he is not going to be able to retain Congress in the Democratic Party So he's got a job to do He needs to listen to his own positive angels not let the party get split and taken down the left field by the progressives And if he does that he's got a shot on goal If he doesn't he might as well just take a vacation for the next 8 months Yeah and to follow up on what Rick is talking about I think the critical things here are the pandemic inflation and of course Donald Trump The more they can keep Donald Trump being Donald Trump the better it's going to be for the Democrats So they handle inflation and the pandemic get those under control Donald Trump keeps talking in the RNC keeps being split And that's something that's going to help the Democrats They historically should lose at least 26 if not more seats in the House but that can be buttressed like it was with the two Senate seats in Georgia in 2020 if Donald Trump keeps talking in the RNC as it split as we saw late last week But Rick brings me back to my question basically what can they control what they can't When it comes to Donald Trump they can't keep him in the corner I think it's fair to say he won't do that The pandemic could go different ways They don't have a lot of control over that What can they control You know if I were Joe Biden I'd be looking at a few things that he's already done You know he said he was going to get out on the road and talk about this infrastructure Bill And he's made one trip I would do it at 5 days a week I think that they need to get this budget squirreled away That's going to be a bipartisan agreement that comes out of Congress that he can sign That'll be a good thing It'll be his budget for the first time in a year of his administration And I think things like the China competitiveness Bill which is bipartisan he consigned and make a big deal about the fact that he's trying to fix the supply chain And all these important semiconductors So there are things still left on the agenda but it's not the liberal left agenda It's the centrist Joe Biden agenda and he's needs a focus on that He needs to give aid to the Democrats on the hill or trying to cut deals with Republicans And he's really going to need a very good confirmation of a Supreme Court Justice If that gets bogged down there's no hope Okay thanks so much to Rick Davis and genius and I'm delighted to be back with us toward the end of the program to talk about those midterms 2022 But in the meantime we're going to talk about deals and possible deals driving two stocks up today frontier airlines and peloton are our stocks of the hour This is.
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"I think you're supportive of that. I think it will be soon. But you know all this also goes around to our own responsibility as investors for caveat into or understanding what we're doing, understanding the technology that we're using, understanding our obligations and investing and those two important rules and investing Rule number one never lose money. Rule number two. Remember Rule number one, you know, And so, but it's still brings up a number of key public policy questions in this new testing. Based on what we've seen in retail investment access and costs. And this new rule I would say in in Bolton boards and read it as compared to the bulletin board activity we saw begin in the earliest days of the Internet, leading up to the dot com crash. Representative Hill. I've got to remember both of those rules. That's where I've gone wrong. Let me just turn and ask you a little bit about Nancy Pelosi's statement to reporters on Thursday, where she said that the enemy is within the House of Representatives. Have you heard Or have you yourself felt any sort of fear? Any threats by other members of Congress? And what did you make of her statement that Thursday? Served in Congress. Six years I've had a collegial relationship on both sides of the aisle. I've never once felt any concern for my safety in the capital or From each other. Our colleagues Other than what happened in the capital on January 6th. So 0.1 point two is I was distressed by what Nancy Pelosi says. We need leaders in this country right now, who are toning down the rhetoric, not ramping up. The divisive rhetoric. Speaker. Pelosi has simply not gotten that message along the way before the election and post election that I really urge her. Theo, step back from this kind of rhetoric. And can I just follow up and then ask you as as we look towards next week, we're hearing that they may be a vote in terms of Liz Cheney and leadership on your side. Do you think she survives that and she remains in leadership. List. Cheney is a valued member of the Republican Conference. People have different views of votes and again In my six years I've heard a lot of people say that they're voting, their conscience, their voting their principles and that they shouldn't be condemned for it. And clearly in this particular instance. Congress moment. Cheney believes that she voted her principles and voted her conscience. And so in my view, she has just as much right to serve in the house and serving in leadership. If her colleagues supporter I'm supportive of Liz is a zoo member of our Leadership team, and I think it's important that we have a family discussion about that in the House Republican Conference and determine the best course to move forward, representative French Hill has been such an honor to talk to you representing that second district in Arkansas since 2000 and 15 hope to talk to you again very soon. Also want to thank Boyd Matheson and, of course, My colleague Bloomberg could political contributor partner of Stone Court Capital former campaign manager for John McCain's 2008 presidential campaign, Brick.
Bloomberg Radio New York
"stone court capital" Discussed on Bloomberg Radio New York
"In my words and my final paragraph my final sentence and everybody took the key thought it was totally appropriate. At least a dozen Republicans in the House of Representatives are expected to vote with Democrats to impeach the president. The president also commented on the South Lawn this morning before leaving for Texas. About what he described was the moments before the riot ensued. Here sound on that. Work Nancy Pelosi and Chuck Schumer to continue on this path. I think it's causing tremendous danger to our country, and it's causing tremendous anger. Pretty And if we are joined now by Rick Davis, who is a partner at Stone Court capital, and we'll be getting his analysis throughout the hour. But I want to turn now to our guests to our producer cause team. Burrata just told me has now joined us Congresswoman Abigail Span Burger. She is a Democrat from Virginia. Congresswoman. You hear the developments in the Times in which Leader. McConnell, citing anonymous sources, has reportedly pleased about the impeachment proceedings for tomorrow. And of course I'm sure you've you're now familiar with the comments from President Trump. This morning. Your reaction tonight. Um, you know, I am astounded by the comments of the president. The absolute Lack of responsibility that he's taking. There were People rating the capital, saying they were there because President Trump sent them. Hey said, Go to the capital. Um, I you know, uh, it's completely consistent with this president that he would not take any responsibility for his actions for his words for the outcomes related to his words. But it's particularly horrifying when these words in this particular case resulted in the death of multiple people, including the murder of a Capitol police officer who was beaten to death by insurrectionist. Congresswoman Abigail Spin Burger is with us. She's a Democrat from Virginia's seven congressional district. She serves on the House Committee of Foreign Affairs and the U. S. House Committee on Agriculture. She's a former federal agent with the U. S Postal Inspection Service, investigating money laundering and narcotics cases as well as a former case officer with the CIA congresswoman to follow up on this. What have you heard about the timetable purely from a procedural standpoint? About the impeachment proceedings tomorrow. My understanding is that that boat will come up tomorrow. It is not yet clear to me. I have also been in transit so there might be updates that I have missed in the past couple hours, But I'm not sure of the time that that boat will occur. But as of right now that vote is slated to occur tomorrow. In terms of how much Ripper Harmony Republicans. You feel well, though, for this, Have you spoken with any of your Republican colleagues? And do you think this will be a bipartisan effort? I will say this I have had I have spoken to you and heard from multiple Republicans who have said that his actions were impeachable. Whether they actually vote for impeachment remains to be seen, which I say that with great sadness and disappointment, But that is that is the case. Have you been told whether or not it's possible for there to be a set and I know you're not in the Senate, but a Senate impeachment trial after inauguration, or is that still an unknown? You mean from illegal stand from illegal sample? Yes. Yes. So, from a legal standpoint there there is not a set time frame. He does not still need to be a sitting member. Achieving a sitting president for the trial, so it it wouldn't have to be a scenario in which the trial occurs before inauguration Day, But But beyond that, we are aware that in fact, it is wholly appropriate legal constitutional. For that hearing to come up at whatever point in time we we bring the articles. The House delivers the articles to the Senate. I say This is a question again from a matter of process. But in the judicial sphere, so many trials as you know, Congresswoman, it's a knopper to nitty too. Interview. Individuals to have individuals testified to have evidence submitted for the record. And I'm curious. Is there enough time to really launch a thorough investigation? Not just about the horrific images that the world, Saul but truly Understanding the planning that required for this Yeah. No. And I think that get back to your last question, because you know the houses. Action and part of the impeachment process is that is in the judicial system Kin to the indictment. So is there enough to indict this president in the first place on As there were rioters and insurrections attacking the United States Capitol, Um beating police officers that the best he could do was a statement saying, we love you all. So from an indictment standpoint, which is the house's role, absolutely when it comes to the actual trial and potential acquittal or conviction. You know, I do hope that there will be a trial where the Senate chooses to bring in witnesses and see evidence, you know, notably the last time this president was impeached the Senate society that they just didn't need that type of Try align or evidence presented presented with witnesses. So it is my my my hope that they will conduct you know, presuming that impeachment will go through tomorrow. But whatever point in time, we deliver the articles to the Senate that they will conduct a full trial because, frankly, this is about the actions of this particular president. It is about the dangers of these sorts of actions. And I think for A full accounting of what happened, how these attacks occurred that it is important that that trial have witnesses and have evidence presented in a more fulsome way than the Senate was willing to do So, in the last time, the president of abuse his power and put personal Gain above above the needs and the safety of the country. I want to bring into this conversation. Rick Davis, a partner, It's Stone Core capital, former campaign manager for John McCain's 2008 presidential campaign. And, of course, the Bloomberg Politics contributor. Recommend you listen to Congresswoman Span Burger there and and just purely from a process procedural standpoint, we're in unchartered territory record. Thank you. And thank you very much represented Spam burger for for being on. I got the pleasure of listening to your presentation to a boredom on environmental defense fund a little while ago And you did a great job, So thank you for being there. And this is obviously a different time in a different topic and and look, I mean, I'm not surprised that there's a lot of confusion around. Uh, something like this and impeachment at such a late date and And I'm just kind of curious What the mood is inside of your caucus. I mean, you know, dear, You're so looking forward to a new administration coming in. You just won a majority and in the United States Senate clear skies for Yeah, taking the Biden agenda and making it in the law, and this is obviously a jolt in a different direction. Understand the need to be patriotic about it. But how do you feel like it's going to affect the agenda that the country is expecting, which is more focused on covert more stimulus relief and And issues were relevant to sort of the ongoing functioning of the country. I think I'm I'm calling an adult, I think is a very fair description. I think the reality is that we we can't ignore the ongoing threat that has now, um And brought to the forefront in a really spectacularly awful way. That's right, being white nationalism that threat being conspiracy theories that would lead people to Insurrectionist attack on the United States Capitol. I there Everyone is really very heavy hearted in and perhaps that's Ah, light way to describe it because No, I want nothing more than to be talking about broadband Internet programs and conservation policy and lowering the cost of prescription drugs. That's what you know I was daydreaming of when campaigning for my collection is not kidding, folks. She's really not kidding. I promised hope my hope is in a couple months, I'll get to have a show where I ask you about that Congresswoman. Go ahead, dreaming about right..
Bloomberg Daybreak: Asia
Election Day 2020: Rick Davis
"Joining us live is Bloomberg's Rick Davis, partner at Stone Court Capital has run a good number of campaigns, including John McCain's 2008 Rick Again. Thank you so much for joining us. My pleasure. Yeah, The Democrats seem focused on Pennsylvania Joe Biden yesterday back again today, Camilla Harris today saying it be decided they're Biden claims it's his first home. Polling has been good. But now the NBC Marist poll today shows it tightening. Where does this stand? Well, it's on the horse race side. You can't tell, but it's been a very stable election. Even in Pennsylvania, Biden held the lead anywhere from 4 to 10 points, depending on which poll and at what point in this campaign. But that's the nature of this campaign is so unusual is how little has really changed lately. I mean, when you were tracking polls and you're only you know, seeing Ah pointer to tightening or loosening in the course of an election. It shows you a very stable electric. In other words, people have made up their minds and we've seen in the last month. People are voting in record numbers during these early votes, And so my guess is Pennsylvania. I would say. Friends toward Biden because he's never been behind in any public or private survey I've seen, but you know, we're see what happens on Election Day. Yeah, Also Florida I mean, for the most part of Florida Early on, and who knows early eyes? It goes for for Biden. They're saying that it's over. Yeah. If Florida goes for Biden, there's really no way for Donald Trump. To find a path to victory mean Biden start with some of the Trump states that he won before pretty much in Hiss. Calm. Michigan, Minnesota, Wisconsin. These are all states that Biden is right now tracking an almost 10 in some cases, 12 points. So you take those states away from Donald Trump. And he can't afford to lose those Bay States and the biggest one that he Has in play 29 electoral votes is Florida now have the two things have the pollsters learned anything since 2016 number one and have the Democrats learned anything since 2016 I'll take the last one. First. What the Democrats learned is that they needed to pick their spots as to where they need to win in orderto get the necessary electoral votes and And Hillary Clinton's campaign spread themselves all over states that were completely unnecessary. They had people in Arizona and other places the week before the election thinking we're going to turn Red States blue. What? What Joe Biden has shown is the discipline to park himself. As you said earlier in Pennsylvania, every surrogate he has in the country was in there today. And he's planted a flag. If I win Pennsylvania, I win the presidency and I'm fighting here. And he has Ah, just in just in the past hour in campaigning, talking to young talking to students, saying that they that they are the key. I mean, the Democrats have needed, you know, asking that question to motivate young voters. Michelle Obama's been beating this drum now since Since 2016 the young have to be showing up. Are we seeing that they will Yeah, There are record turnouts bank on Which state you're talking about in Pennsylvania is one of them where under 25 8. Voters are starting to show up in much bigger numbers than they did in 2016. Now whether or not that follows on Election day. These are all the early voters that we can track. But if that follows up on Election Day, the young voters could actually make a big impact on the state like Pennsylvania. OK, let's and and the presidency, of course, is what everybody focuses on the most for very good reason. But But let's let's look at the Senate here. I mean, if you're a Democrat, and you're looking at this, you're saying, Wow, we have a really good shot that this could flip. Yeah, His Senate is ah, Titan. There's no question about that. Republicans have probably five or six states where they have likely swings to the Democratic side, potentially. And they only have one pickup in in in. Ah, Alabama. What is interesting? State toe Watch is Georgia. Not only do you have a Senate race up for grabs, But you have a special election for a senator to Senate seats up in Georgia this year. And Georgia has a funky law where you have to get over 50% of the vote, or you go to a runoff. And at this point, neither one of the incumbent Republicans there look like they're going to be able to get to 50%. So you could have the control. The Senate decided months later in a special election on top of the special elections you already have? Yeah, possibly in in January. Now now vote counting. Of course, you know, we hoped to see something tomorrow probably won't. But the president has said that he may claim victory on on election night anyway, both sides of lawyered up. This could be a mess as well. I don't want to be negative, Bob, but but this could be a mess. Well, The good news is states run their elections and so unless they decide to defer to the president states, which would be extraordinary, right? No, no state Tends to do that voluntarily, then they're going to count at their own pace. In fact, we've never had an election where the actual elections certifications. We're on election night. They always take days later. In order to facilitate all the ballot collection and count all the ballots, And then the state certifies. There's there. It just simply doesn't happen on election night in any election we've ever had. And so I think that most of the states if their discipline and they follow their own rules, they'll pay no attention to the president's protestations. He did this in 2018 during the Florida governor's race where he said, Oh, you know, all the votes were counted, and we ought to just move on. We're Yeah, we're going to have to leave it there. Thank you so much and will watch for you and David and Jeannie. With our special election coverage