>> good morning. this is bloomberg daybreak europe. i'm lizzy burden. in dubai. investors brace for a reality check on rate cuts. powell speaks later at jackson hole. two fed officials signal rate cuts are on the way.

japan governor ueda says rates go higher in japan. kamala harris making her case against donald trump. >> instead of a trump tax hike, we will pass a middle class tax cut that will benefit more than 100 million americans. >> a very good morning. welcome to the program. i'm lizzy burden in dubai. happy friday. you have made it. it is the biggest day of the week probably for the markets. we have jackson hole and the governor over the bank of japan ueda speaking in parliament, both unlikely to make any policy commitments today, any news, any

market upsets and yet traders are hanging on to every word. a touch weaker on the euro stoxx 50 futures. watch whether that 5,000 -- 5600 level is going to hold for the s&p today. we have a mixed bag of data. some hesitant fed speak sending the two-year treasury yield above 4%. now the two-year yield at 3.9%. the yen has been higher against the dollar, listening to governor ueda signaling that the boj is still on the path to raise rates. we're going to talk more about that with avril hong in just a minute. pairing some of the earlier gains. plenty there at $77 a barrel heading for its first weekly loss on this challenging demand

outlook. the efforts to reach a cease-fire in gaza, still not on the table yet. let's get to avril hong. what's happening in asia? >> we're seeing asia stocks looking pretty flat in the leadup to powell at jackson hole. as you talked about, we had the comments from ueda in parliament and he seemed to suggest they could still hike rates. if any he is sticking to his guns saying they are going to continue adjusting monetary policy if the inflation data calls for it and he talked about how the current levels, the vait far below neutral. it gives you a sense of how much further hiking they could potentially do. still we're seeing japanese equities take things in stride. they move a bit off the session highs, post ueda's comments. picking up some ground now. if you think about it, ueda is

not more hawkish than he was in late july after that boj hike. chinese getting a sentiment boost from the vice minister of housing. they will quicken the pace of buying unsold homes. they want to turn this into affordable housing. a bit of a left temporarily at least. on the hang seng i wanted to highlight in terms of earnings, they are the drags. no to the revenue misses. we are seeing a bright spot for alibaba. hong kong listed to primary stages. a key step for the cock connect participation bringing in some of the inflows to the stock. it seems like ueda is really sticking to his guns. we're seeing the japanese currency gaining ground against all of his g10 peers.

the dollar-yen has moved off what we saw earlier on the session. it is not just about the boj but also about the fed and what we get from powell. >> let's talk about that. during -- jerome powell could shed light o on a cut from the fed. it is a highly anticipated speech. is the central bank going to cut at its september meeting and how big will that cut be? mike mckee has this preview. >> all wall street wants to know, how far will he go? investors would love a rate cut pledge from chairman powell. that is not likely and he is also unlikely to say how far the fed will cut or what their next steps will be. expect acknowledgment the fed is close to changing rates as long as the incoming financial data

beats forecasts. he still have to get some of his colleagues onboard. >> this mandate on the inflation sites is really important. we seem to be getting good movement in that direction, before we act or before i recommend acting, i think we need to see a little bit more. >> he didn't say how much a little bit might be. for wall street, powell just raising the subject may be enough. there is interest in how much he might talk about the fed's framework review which the bank begins to undertake this fall. the transition of monetary policy is the topic of this year's symposium. michael mckee, bloomberg, jackson hole, wyoming. >> we have plenty more coverage come to you from jackson hole. we have had not just jay powell's latest today but fed speak from others on this week signaling two of them that

gradual and methodical rate cuts are come. let's get more from garfield recommends. this is pretty cautious language hit he hadding into jackson hole. do you think has the tone we're going to hear from powell when he speaks later? what does he have to say to not upset the market? >> the biggest thing he would say that might upset the market would be if he came out sounding like he wasn't ceretain that a rate cut was coming. i don't think he is going to take that sort of tack. it would be unusual when you have had the minutes showing there was a strong constituency to cut in september. his colleagues putting cutting on the able. especially if he doesn't want to upset the markets. he has mostly shown he is not interested in that. he will speak from the same

basicset that the fed does think it is appropriate to cut rates. they said all along this year they thought they would cut rates towards the end of the year and after the jobs data we had at the beginning of this month and the c.p.i. data a little bit later on, the barriers seem to have come down for a rate cut. if he pushes back against current bets and actually addresses the fact that the markets pricing is their base case that there would be 100 basis points of cuts this year, that doesn't really seem to align with what a lot of fed commentary has been proejecting. that would be something he could do that would perterb marks.

more likely he won't address that. >> we have the yen stronger. 145 per dollar is where we are at at the moment ahead of ueda's testimony in parliament. >> that 145 level is reasonably key. there are not a lot of good, you know, when it comes to the u.n. because we're coming off those extreme moves a couple of weeks ago. so round numbers, 145 if, we were to go, the lowest, gets to the 144 area, has the kind of thing that would start to raise concerns that we're going to get another burst of disruption caused by yen trades blowing up the way we had a couple of weeks ago. so far today's action has been modest.

ueda has reminded everybody that rate hikes remain on the table for the bank of japan but he has not done anything to indicate those are seriously imminent. the way that he was very careful to put the market turmoil in the context of this was more about what was going on in the u.s. than what was going on in japan. so again, coming back to that situation where when we had that burst of turmoil in the beginning of the month, part of backdrop for that was ueda was more hawkish than expected and the fed was a little bit more dovish or reinforced dovish expectations. when we have ued essentially sticking with his hawkishness that has already been established, if anything the fed is going to perhaps be a little bit less dovish than expected, that means we're less likely to get the sort of uproar that we had a couple of weeks ago

because we're not going to get those same sort of -- that sudden divergence that we got at the beginning of this month. >> or so you hope. garfield reynolds, thank you for that. we will keep an eye on the juxtaposition of japan and the u.s. today. do stay with us for all of our coverage of fed chair powell's speech at jackson hole. the symposium continuing today. we're going to sit down with the atlanta, which i fed presidents. the vice president kamala harris though in chicago formally accepting the democratic presidential nomination. we can get now the u.s. politics. she has laid out her vision for country. she has warned about the possibility of former president trump returning to the white house. >> i promise to be a president for all-americans.

you can always trust me. to put country above party and self. to hold sacred america's fundamental principles from the rule of law to free and fair elections to the peaceful transfer of power. >> let's get more from bloomberg's vonniequinn. beyond proposing herself as a leader of all-americans, what were the messages from harris in this acceptance speech? >> she argued her case as as she has thousands of times as a prosecutor. she did go into some detail. we'll get more as the campaign goes on presumably. she talked about reproductive rights and how she was going to protect them and voting rights. she didn't shy away from areas

where she is reported to be weak, the border and immigration. how she would be a strong commander in chief and defend u.s. forces, whatever it took. she obviously did speak about her opponent although she cast him as somebody who is dangerous. she didn't get too overly excited. she made a very concise argument about how donald trump is an unserious man but the consequences of putting him back in the white house are extremely serious. so she again told voters and she was appealing to independents as you heard in this clip. not just people who were already democratic but those who have yet to decide. she said she would listen and lead and she is realistic, practical and has common sense. for his part trump called into fox news after the convention change how she didn't talk about fracturing, crime, poverty and housing. >> what's been the trump campaign's reaction so far?

>> well, you saw right there, he called into fox news and he wasn't happy to wait for the next few days of campaigning, he already wanted to put his response on record. he said she is somebody who talks but says nothing. he said it was a nice looking room. thes a thettics of the whole dnc were not lost on donald trump. so many performers tonight or wednesday night you had pink and the chicks performed the national anthem and people from gabby giffords to markwell kelly. adam kin singer said this democratic party is trying to reach out to republicans and the conservative leaning elements of the democratic party. another scene was democrats taking back the idea of freedom. that have been the purview of the republicans the last couple of decades. there was a lot of flags and chants of u.s.a. and a lot of

americana in that center. >> we thank you for staying across the democratic national convention for us all week. we still have plenty more ahead today on the docket. 7:45 a.m. u.k. time we get the french manufacturing confidence data. business confidence as well. more in the picture for the european central bank. focus on inflation to a focus on growth. then 3:00 p.m. london time we get u.s. new home sales feeding into the picture for powell and then we hear from the man himself at 3:00 p.m. london time jay powell taking the stage at jackson hole. you can get a preview of all of that and set yourself up for the day by going into today's edition of the daybreak news letter on the terminal.

governor ueda lead there go on the yen. coming up, we will go back to japan. the boj governor saying rate hikes are still on the table if the japanese economy meets the central bank's fork. more on ueda's grilling in parliament next. this is bloomberg. why do couples choose a sleep number smart bed?

can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that. can i make myside softer? i like my side firmer. sleep numberdoes that. your ideal firmness and effortless comfort, all night. can it help us sleep better and better? please? sleep number does that. 9 out of 10 couples report better sleep. during our biggest sale of the year, the queen c2 smart bed is only $999. plus 0% interest for 36 months. shop now at a sleep number store near you.

lizzy: welcome back to bloomberg santa fe break here. 6:18 in london. the bank of japan's ueda saying his central bank is still on a path toward higher interest rates if inflation and kmec data continues to meet their

forecasts. >> if we are unable to confirm a rising is that right economy and price also stay in line with forecasts then there is no change to our stance and we'll continue to adjust the degree of easing. lizzy: so sessions on the docket today from governor ueda. paul, how successful do you think he has been this morning and this year in communicating the boj's position? >> well, certainly today, i think he has turned a potential tight rope scenario into something more like a walk in the park. it's been relatively successful. he has managed to keep rate hikes on the table. he's also reassured markets that he will look at market moves very carefully with extreme care. and at the same time he has also

pushed back a little bit against the criticism that the boj helped spark this huge market rout. he has played down the rate hikes significance in terms of sparking the rout. has the rate hike on july 31. at the same time, he said the decision was appropriate. so i think a lot of checked boxes that mr. ueda and his team might have had early this morning, i think he has managed to get them all checked off pretty well. so i think that leaves a rate nike the coming months still on the table. lizzy: when do you see that hike coming? do you think when it comes we'll see the same market? >> right, well, i think deputy governor's comments earlier this

month in which he said the bank would keep the easing for the time being including the rate opponents to the fact that there is no chance of a rate hike in september. of course you should never say never but i think it largely rules ott something this quarter. kind of on the margins is something right at the end of the quarter would be a three-month period would be the october meeting. now that also looks a bit early. it's also just before the u.s. election. so there could be market turbulence then or uncertainty. would you want to move then? i think really we're looking at december here. also gives time for things to settle down after the u.s. election and assuming markets are in a more stable place then,

then i think that would be the time to go. 2/3 of economists we surveyed after the market rout think the time it will happen by december. lizzy: thank you. as we keep an eye on the yen, 145 per dollar is where we trade as we continue to listen in to governor ueda. the markets, renewable energy is going and so is the competition for cheap batteries. stay with us here on bloomberg. ♪

lizzy: welcome back to bloomberg santa fe break europe. battery manufacturers are being squeezed by the slowdown in electrical vehicle sales growth.

could the market provide some relief as europe tries to reach a netzero grid. andy, good to have you with me. i wonder how much more important batteries are going to get. >> yeah, so the sun is not always shining nor is the wind always blowing. as we have more renewables in the grid, we need to manage this and that is something batteries can do. they can shift powers from high generation and high con stowdges low generation and high consumption. for solar power this would be moving power when the sun is shining to the evening peak when people want to use power. this is being driven in europe and germany with more renewable energy sectors and capacity for 95% year-on-year through 2023 and we expect them to grow almost five fold between now and

the end of the decade. lizzy: if capacity is growing, can we make enough batteries to supply this rapid growth? >> since 2021, china has been making more than enough energy storage batteries than world needs. this is due to a combination of factors such as manufacturing overcapacity, slower than expected defrom other segments such as energy storage and electric vehicle batteries as you mentioned and energy storage batteries are becoming a more comodtized product. with energy storers wanting them with energy size and technical specifications making it a competitive market. this combinationor factors has led to a significant drop in prices in china. lizzy: we know europe has its own ambitions to grow its domestic battery industry. what does it mean for them? >> as i mentioned, prices in china have been dropping through last year. they have for energy storage

batteries and 27% in the first seven months of 2024. this is making europe a more challenging place to make batteries with high costs for things like water and power and labor and land compared to china. and it means there are higher costs for things like scaling up production capacity due to higher scrap rates. we have seen a number of delays in norfolk and a.c.c. and shifting focus to set up shop in the u.s. where policy is stronger. lizzy: andy leach, we thank you for bringing us that report. really interesting stuff. if you want to hear more, do download the switched on podcast on apple, spotify or wherever you get your podcasts. coming up, kamala harris taking center stage at the democratic convention as she formally

accepts the the party's nomination. we bring you the latest. u.s. futures pointing higher as we end the week and european futures flat on the euro stoxx 50. this is bloomberg. ♪

lizzy: good morning. i'm lizzy burden in dubai and these are the stories that set your agenda.

awaiting powell. we brace for a reality check on rate cuts when jerome powell speaks later jackson hole. two fed officials signal lower rates are on the way. the japanese central bank governors is rates could go higher. kamala harris formally accepts the democratic presidential nomination, making her case against donald trump. good morning. welcome to friday. it is 6:30 a.m. in london and it's the most important day of the week for the market perhaps. we will hear from fed chair jerome powell at jackson hole. governor ueda has been testifying in parliament, neither wanting to upset the market, but traders clinging to every word. futures pointing higher stateside, a touch higher in europe. if we flip the board over, we have had this mixed bag of data from the u.s., some hesitant fed

speak, sending the yield over 4%. but now the two year yield is 3.9%. the yen i higher off ueda's comments, but paring some earlier gains. euro-dollar, mind that also. brent heading for a weekly loss. $77 a barrel is where we trade on this challenging demand outlook, sinking prices and efforts to reach a cease-fire deal in gaza. let's get over to the u.s. politics. the d&c in chicago. paris taking center stage. she says she's determined to lead a strong economy that will benefit millions of americans. >> instead of a trump tax hike, we will pass a middle tax -- middle-class tax cut that will benefit more than 100 million

americans. lizzy: more from vonnie quinn. a lot of vibes, but how much policy detail that we get? >> not much. it was a moment to make the argument for why she should be the next president of the night it states. we know what her policies might be like, for example, raising corporation tax, and you got a little bit of that in the speed -- the speech. she devoted some of the speech to other things she wanted to accomplish, including protecting reproductive rights, civil rights, voting rights, and being strong on the border and immigration issues. this is an area the trump campaign has hammered her and wallz on -- and walz on. she devoted a section to america's place in the world and

how she would be a strong commander-in-chief. there was a lot of biography the beginning as well. a large part of the voting public does not know her background and she explained to them she had been a public prosecutor and her entire career she had one client and that was the american public. lizzy: vonnie quinn, thank you for your coverage. let's get analysis. we are joined by an associate professor in conflict resolution and security. great to have you with me. you heard from vonnie quinn talking about how this was harris's first real opportunity on a national stage to step out of joe biden's shadow and show who she really is. do you think she did enough to rebut the criticism that she does not have enough experience, for example? melanie: thank you. it was a rousing speech about

myth busting. there has not been a lot over the last four years to understand kamala harris and this is exactly what she sought to do, and did it in a logical way, going through her experience as a prosecutor, attorney general, what she has delivered to date because a lot of the criticisms leveled against her are what have you done? can you show what you've done? particularly in relation to the last four years. so it was a little bit of rewinding in that respect and showing all the parts of what was important about how she makes decisions or the basis upon which she makes decisions. lizzy: now that we have had the dnc and republican national convention, what do you think will be the main battle lines in the selection, melanie? melanie: it's going to be -- it will be full on.

we have had a lot of fighting talk from the dnc over the last few days and in response we have seen -- we saw this last night with trump on truth social doing a running commentary with a lot of trying to get the soundbite to undermine that. what will be key to the messaging that will counter -- who can promote the most unity and be the antidote for the dnc? the fact that they have republicans talking at the convention yesterday, talking about trying to find middle ground, pick up those centrist people that could swing the vote. that's where we saw someone yesterday saying if you have respect for the rule of law, for the constitution, actually, you

may have to go a little to the other side for the selection. lizzy: on the subject of unity, of course, we did see protests at the dnc, pro-palestinian protests. i wonder whether they handled it well at the democratic convention, whether kamala harris should be doing more to distinguish yourself from joe biden when it comes to foreign policy on the middle east. melanie: she tackled foreign policy in the speech quite forcefully, which was, you know, a lot of people were waiting to see, particularly on the israel-palestine issue, she went head-on with continued american support for israel, for its rate to be able to have security -- it's right to be able to have security but also bringing an end to what is a tragedy for the palestinian people under hamas and also step away from support

of hamas. within the convention itself yesterday, two nights ago, she had -- lizzy: losing track. melanie: i know. she is trying to give a balanced position to counter what's going on outside of the convention hall. lizzy: i don't blame you, melanie. i am losing track of the many speakers and celebrities they have had at the dnc. one person introduced to the nation was tim walz. i wonder what you think he brings to the party. >> tim walz was referred to as coach walz, bringing in the dimension -- his story is a compelling story.

again, they are both complementary and the talk. they are thinking about unity, community. you saw it from his stand at the end of his -- his son at the end of his speech, "that's my dad," trying to give confidence to a lot of voters for somebody who has worked in a bipartisan way. never underestimate a public school teacher or prosecutor. both those narratives are working strongly together. a lot of excitement. the fear right now is voter apathy for the dnc. to create that excitement, that's a pep rally to get people out and vote. lizzy: as the daughter-in-law of

teachers i think you are right. melanie garson, associate professor in conflict resolution and international security at university college-london, good to have you. let's get to some of the other top stories making news this morning. in the u.k., the bodies of british tech tycoon mike lynch and jonathan bloomer are among five now retrieved from the wreckage of a luxury yacht that sank off the coast of sicily monday. lynch's 18-year-old daughter remains missing, presumed dead, after the boat was hit by a tornado. authorities are investigating how the super yacht sank. in other news, ecb governing council member martin says the central bank should consider more rate cuts. he sat down with lisa abramovitz in jackson hole. >> i would be very much open for a discussion of yet another rate

cut but we will need to see the more forecast and data but i would say even if inflation, it is consistent with further rate cuts. >> mark schneider, the ceo of nestlé is no more. he is replaced by lauren forex after almost eight years at the helm. he will take over from september 1 as they try to bring things back to premium brands. elliott is said to be getting 200 million euros from deutsche bank. bloomberg understands that hedge fund was the largest plaintiff in the litigation against the german lender in a takeover that took place more than a decade ago. those are some of our top

stories this morning but coming up we will take a closer look at the huge challenges of containing the mpox outbreak. we will speak to helen from the world health organization. stay with us. this is bloomberg. ♪

lizzy: welcome back to bloomberg daybreak: europe. asian countries are stepping up screening for mpox after thailand detected the first case in the country of a new strain spreading in africa. jennifer zabasajja has the latest. where are we on the spread of the mpox strain? jennifer: this is the first known case of this mutated strain that's actually said to be known in asia, but it's important to keep track of what these different mutated strains

are because in 2022 we saw a separate outbreak happening, a clade ii variant. the concern is this mutated strain of this clade one variant, called clade 1-b. it's important to remember because it is said to be increasing in transmission and potentially even more fatal so that is the concern and that's why we are seeing more countries like thailand and singapore and china and india and countries stepping up testing and surveillance but testing still where it is endemic in parts of africa is still quite low, so that's why we are hearing them talk a lot about testing, and on the vaccine front on thursday we heard from bavarian nordic, which does have one of the only improved -- only approved mpox vaccines in the u.s. and europe,

and they said they have the capacity to produce at least 2 million doses by the end of the year, 10 million by the end of 2025. what people are going to be paying close attention to next is will those orders come in and will they actually be fulfilled? so it's really a complicated situation, just given the lack of testing and also the frequency with which we are seeing this virus spread. lizzy: all right. our chief africa correspondent, jennifer zabasajja, we thank you. let's try and impact this situation more as african countries are scrambling to sick her enough inbox -- to secure enough inbox vaccine to deal with the outbreak. we are joined by helen rees of the world health organization. good to have you with me on the program. you are on the ground in johannesburg. what's your read on the scale of the outbreak in the african region and how similar is this to covid? helen: well, i will take your

second question first. it is not similar to covid in the sense that covid is airborne. it's a respiratory infection. that makes it very usually spread. you go into an airplane or a room and it's very easy to acquire covid. mpox is spread through contact. we have had mpox in the african region since the 1970's, but the mpox that we saw them was jumping from animal reservoirs, probably small rodents, and households. it was spread in the household and then it would just not spread any further. and that's been going on, particularly in central and west africa, since the 1970's. so it is contact-spread. what's changed now is the types we are seeing -- you just heard about this clade 1b -- is also sexually spread, and that through contact as well, but it

does mean that instead of just being limited to households we are seeing sexual spread in the populations and, as we saw in 2022, in the men who have sex with men population. there was a big outbreak there. we have seen a change in the way the virus is being transmitted and that means that we are seeing greater spread beyond households and in the populations and we are seeing it also amongst children, and that's where we are also seeing it in central africa, most of the deaths in the younger age groups. lizzy: very sad developments. and i wanted to -- and i wondered how much access there is in the region to vaccines? helen: this is a huge problem and i think the world should sit back and say, have we learned anything from covid? the african region acquired covid vaccines very late, months later, and that meant that in many cases people had already had the infection and people

were not very interested in having the vaccine. now we look at mpox and we have the same problem. it's not easy to acquire the vaccines. many of the countries that were exposed to the 2022 outbreak have got stockpiles of vaccines, so they have a lot of vaccines awaiting in the case of another recurrence in their own country, but we are not able to easily access stockpiles and we are not easily able to access vaccines from the manufacturers either, so south africa, for example, has had an outbreak now which started in april, and we still have not been able to access vaccines. the drc, nigeria have both got large outbreaks, and some of the neighboring countries, and have still not yet been able to access vaccines. now, this is not only a disaster for individuals who are now going to be exposed to the

disease who would otherwise be protected, but it's a problem in terms of containing the outbreak. one of the things that vaccines do apart from protecting you as an individual is it stops transmission, so if you can stop someone transmitting to another person, you stop an outbreak where one person infects another and another. that's where you get international spread as well. go ahead. lizzy: you see that the vaccine is not easy to acquire -- you say that the vaccine is not easy to acquire. i wonder what the local response is. helen: we have not got the vaccine yet, but if you look in 2022 and the outbreak there, there was a high acceptance of the vaccine. there were over 100 countries affected then and there was a high acceptance of the vaccine. in the setting here, we have had outbreaks of ebola, where we have had vaccines, and there's

been a high acceptance of those vaccines, so i think it's likely that there will be a high acceptance of the vaccine, partly because people are very concerned about not getting the disease, and obviously, with any new outbreak, there is community fear, and in the drc in particular, because you are seeing children affected, there's a strong motivation when you see children to have the vaccine. so i'm optimistic that the vaccine would be acceptable but we have not yet got the vaccine and that is by far the bigger problem. lizzy: so an emphasis on access is the issue here. some people are talking about mpox as a test for the next pandemic. helen, how do we stop this lack of access happening again and again and again? helen: well, the first thing is having interviews like this and for the important media outlets to start to cover this and raise this as an issue.

the world health organization's hosting talks and has been for over a year to try to develop what's called a condemning treaty where all the member states of the world actually contribute to this, and one of the things in that is to say we need to have equitable access to what we call medical countermeasures. that includes vaccines, therapeutics, treatments and diagnostics. the reason for that is not only because it is the proper humanitarian thing to do for countries, many of which are seeing these outbreaks, but also because if you want to stop a pandemic, you have to stop it early and you have to be able to get products to the countries that need them as quickly as possible. this is global common sense. and this is part of what is being negotiated, but that does mean that we have sharing. if countries have stockpiles they are not willing to share, then we are not going to be able

to stop the next pandemic. so there has to be this ongoing global dialogue. we need a pandemic treaty that addresses this. and there needs to be a bit of a wake-up call to countries that are better resourced, the do have these vaccines and diagnostics. lizzy: all right. helen rees, we will have to leave it there. helen rees from the african regional technical advisory group on immunization at the world health organization, we thank you for that call to action. we will have plenty more coming up. this is bloomberg. ♪ eis as firm as my heart desires. my heart desires soft. sleep number does that. your ideal firmness and effortless comfort, all night. during our biggest sale of the year, save 50% on the sleep number limited edition smart bed. shop now at a sleep number store near you.

there are so many tina feys i could be. so i hired body doubles. mountain climbing tina at a cabin. or tree climbing tina at a beach resort.

nice! booking.com booking.yeah. >> the borders are. she loved the title but did not want to do the work because she is lazy and wants to have an open border. >> in many ways, donald trump is

an unserious man. but the consequences -- but the consequences of putting donald trump back in the white house are extremely serious. lizzy: republican nominee donald trump and vice president kamala harris speaking in the past 24 hours. let me to show you where things stand when it comes to this u.s. election race as we wrap up the week after the democratic national convention. take a look at the polls as they stand. harris's lead over trump widening in terms of average. you can see here according to real clear politics. if we flip the board, the betting odds show that her lead against donald trump is narrowed so we have the betting market there according to predictit. in other words, this race is far from over. stick with our coverage.

we have plenty coming for you from jackson hole, jerome powell speaking later on today. we will sit down with atlanta, philadelphia and chicago sped presidents and the former kansas city fed president, esther george. plenty of coverage for you throughout the day. that does it for daybreak europe. it's been a pleasure hosting this week. i am lizzy burden in dubai. guy johnson and kriti gupta next bringing you the opening trade. futures pointing slightly lower in europe. this is bloomberg. ♪