Kamala Harris’ (Wall) Street Appeal & Team USA Women’s Soccer 08/09/24
Aug 9, 2024
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In this conversation, Lydia Moynihan, a New York Post journalist, shares insights on Wall Street's shifting dynamics as the presidential election nears, examining Kamala Harris's dual appeal to financiers. CNBC’s Steve Liesman discusses the stability of the American consumer amid economic pressures, while Carl Quintanilla reports from Paris on Team USA’s women's soccer team's success in the Olympics. They explore the surge in interest for women's sports and the NWSL's growth, highlighting the financial implications and future potential.
Wall Street's evolving perception of Kamala Harris highlights financiers' eagerness to support her campaign with financial contributions ahead of the election.
The rapid growth of the National Women’s Soccer League underscores increased viewership and attendance, reflecting the sport's rising popularity and business potential.
Deep dives
Market Sentiment on Kamala Harris
Wall Street's perception of Kamala Harris has evolved as financiers express a sense of ownership regarding her candidacy. Many influential figures believe they helped pave the way for her success, crediting themselves with Biden's withdrawal from the race. This familiarity with Harris has fostered a belief among some on Wall Street that she may adopt more centrist positions on regulatory matters. Consequently, they are eager to support her campaign with financial contributions to sustain her momentum ahead of the election.
Consumer Spending Trends and Economic Outlook
Recent data suggests positive growth in consumer spending, with significant gains across various retail categories. This growth, buoyed by seasonal factors like back-to-school shopping, reflects enduring consumer confidence and an economy that continues to show momentum. Despite some concerns about potential weakening in the economy, the data indicates that consumers are discerningly spending where they find value. As a result, analysts view rumors of a looming economic downturn as premature based on current spending behaviors.
The Blame Game in Delta's IT Outage
Delta Airlines is embroiled in a dispute, claiming that a recent global IT outage attributed to CrowdStrike and Microsoft cost them an estimated $500 million in damages. The airline's narrative has sparked a back-and-forth with CrowdStrike, which argues that Delta's technology setup contributed to the incident. This blame game underscores the complexities of technology dependencies within the transportation industry, as well as the potential ramifications for the companies involved if the case goes to court. As the situation unfolds, the accuracy of each party's claims will likely influence public and market perceptions.
Growth and Valuation in Women's Sports
The National Women’s Soccer League is experiencing rapid growth, evidenced by its recent expansion and increased viewership. With attendance rising by over 50% and valuations skyrocketing, the league's enterprise value reflects a solid business foundation. This growth is attributed to the popularity of the athletes and the successful marketing strategies leveraged during major events like the Olympics. Amid this upward trend, the league aims to foster a professional environment for emerging talent, positioning itself to capitalize on the growing interest in women's sports.
With just 88 days left until the presidential election, both the Harris and Trump campaigns are shoring up support on Wall Street. Lydia Moynihan of the New York Post shares what she’s hearing among financiers, including their opinions of both candidates and their perception of VP Harris’ approach to regulation. Former President Donald Trump wants a say in the Fed’s interest rate decisions, and CNBC’s Steve Liesman shares new data on the health of the American consumer. Plus, CNBC’s Carl Quintanilla is in Paris with the National Women’s Soccer League Commissioner Jessica Berman. They delve into the impressive performance of Team USA's women's soccer at the 2024 Olympics and discuss the broader implications for the sport's popularity and the NWSL's expansion. Catch the Olympic women’s soccer final between Team USA and Team Brazil tomorrow on Peacock and NBC.