Episode summary
Moderate Democrat Projected to Win Wisconsin Primary; Trump Claims Hormuz Control | Bloomberg...
Bloomberg Daybreak: US Edition
· · 16 min
Summary
Moderate Democrat David Crowley was projected to edge Francesca Hong in Wisconsin’s governor primary, a narrow result that the host and guest said could blunt the party’s progressive wing and give establishment Democrats a path to reassert themselves in upcoming primaries. The discussion also noted other contests, including Darlene Graham advancing to a South Carolina runoff and Mike Lindell projected to lose Minnesota’s Republican gubernatorial primary.
The show then turned to Iran and the Strait of Hormuz, where President Trump claimed the U.S. had “total control” and warned Iran would be “blown away” if it acted. The host said oil prices were rising on skepticism about a deal, while the IEA said global crude inventories will fall much faster than previously expected as renewed hostilities and maritime disruptions squeeze supply. One analyst said a frozen U.S.-Iran conflict looks most plausible and could keep oil elevated.
Markets were a second major focus. CoreWeave jumped after stronger revenue and a higher full-year outlook, while Super Micro Computer also rose on a better-than-expected forecast tied to AI demand. Before July inflation data, one analyst argued core inflation should keep easing and that the bigger surprise may be a weaker economy, even as Fed officials debate whether to hike. The program also covered a rise in Colombia’s quake death toll, Ukraine drone strikes on Russian energy infrastructure, and New York politics around a proposed second-home tax.
Key takeaways
- David Crowley’s projected Wisconsin win suggests progressive Democrats are not dominant everywhere, and the guest said it may help establishment Democrats in coming primaries.
- Trump’s Hormuz comments and the IEA’s inventory warning reinforced the episode’s view that Iran-related disruptions are tightening oil markets.
- The host said Brent was near $89 after a 12% rise over five sessions, highlighting how geopolitical risk is feeding into prices.
- CoreWeave and Super Micro both rallied on AI-related demand, with the host emphasizing stronger revenue, outlooks, and server sales.
- The guest said July inflation may look benign outside oil and argued the Fed still won’t hike because the bigger issue is a weaker economy.
Notable quotes
“moderate David Crowley is projected to defeat Democratic Socialist Franchesca Hong 39.8 to 39.4%”
“We totally control the straight of our modes. We have control over it. Nobody else, only us”
“global crude inventories will tumble this quarter at more than twice the previously estimated rate”
“There is still a really big question about whether we even need neoclouds, whether they're a good business”
“I think core inflation will be heading down and I think the big surprise will be just how weak the economy is going to be”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager
And I'm Karen Moscow. Here are the stories we're following today. Karen, we'll begin with results from the latest key primary races.
Starting in Wisconsin, where an upset in the Democratic governor's race could check the momentum of the party's progressive wing. With 98% of votes counted, moderate David Crowley is projected to defeat Democratic Socialist Franchesca Hong 39.8 to 39.4%. Hong addressed her supporters last night.
to people in every corner of this state. It is an honor of my lifetime to be your candidate for governor.
But this morning, Francesca is projected not to be the candidate for governor by a narrow margin. Now, that highlights the strength of the Democrat's progressive flank, but Crowley's win may offer a path for establishment Democrats to reassert power in primaries over the next month. Well, Nathan, in other notable primaries overnight, Senator Darlene Graham will advance to her runoff to replace her late brother Lindseay as the Republican nominee in South Carolina.
With 33% of the vote, Graham will face Congressman Ralph Norman in the August 25th runoff. Norman took 25%. The eventual winner will face off against Democrat Annie Andrews in November.
And in Minnesota, Karen My Pillow founder and 2020 election denier Mike Lindell is projected to lose Minnesota's Republican primary for governor to state house speaker Lisa Demouth with 99% of votes counted there. Damuth has 43% compared to 33% for Lindell. He questioned those numbers in remarks to supporters last night.
I'm not going to sit by until these numbers are explained. Someone's going to have to explain to me why we were pulling seven to N and these numbers came in. Lindell's projected loss follows an endorsement from President Trump.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- wisconsin primary
- trump hormuz control
- iran us negotiations
- oil inventories deficit
- oil demand pressures
Companies and tickers mentioned
- Decision Desk HQ
- Associated Press
- International Energy Agency
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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