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tv   Bloomberg Markets Balance of Power  Bloomberg  August 21, 2018 12:00pm-1:00pm EDT

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power. david: here are the top stories. packing the election. washington may still be debating what happened with the last one, we talk with the house intelligence committee about it. the trump administration proposed sweeping new powerplant rules. almost heaven west virginia. president trump chose to the heart of coal country to rally his base to turn a blue seat red. ♪ shery: president trump taking for the draymond president obama's legacy on climate change. a plan that would dramatic way limit emissions on coal power
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plants. the president knows his audience. this policy rollout comes ahead of back to back campaign events for the president later today in west virginia. , we are joined by kevin cirilli. how does this new plan compared to president obama' clean energy plans? kevin: it is a complete walk back of the obama era regulation. the is exactly what proposals would do. it would replace the obama era clean power plant weaken pollution limits on coal fired power plants by setting guidelines on efficiency improvements. it will embolden the state sharing to decide exactly how they want to restrict the co2 emissions standards. we see pushback. this could potentially lead to some type of legal argument. but republicans like this.
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a lot of republicans like this, especially in the coal sector. president trump campaigning west virginia later today. the chamber of commerce says today's announcement is an important step toward a more collaborative process that fits within epa's statutory authority. this revised approach will help continue the trend of lower electric-power sector emissions by preserving america's energy edge and respecting environmental law. democrats disagree with that. , let harris account -- kamala harris of california tweeted out this decision is a recipe for disaster. david: this is a little bit in the abstract. this is a proposal. this is not effective. they have to actually enact it. in the meantime, the obama rules stay in power. what are the rules that the power plants are abiding by?
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foremost,st and right, this will kickstart a period.omment second, from the administration's standpoint, they are hoping this will signal to the energy that this is part of a host of energy plans. david: we got a powerful signal out of the jury across the river from you, asking the judge what do we do if there is one count we cannot agree on? that does not indicate good news for mr. manafort. is, charged with a host of different -- right, he is charged with a host of different charges. the longer this drags on, most legal folks say perhaps they could be having some disagreements over some of the charges. we just got that signal they are asking for more guidance.
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headlines crossing the terminal cohen couldhael agree to a plea deal. david: at the last moment, if there is a plea deal -- let's be clear, there is 18 counts and the jury said there's only one they cannot agree on. kevin: exactly. everyone eagerly anticipating whenever it will come down. this would be -- we saw in the last couple of days, president trump still defending paul manafort. david: thank you so much. let's get a check on the markets. are in: the bulls charge. the three major averages all up for a fourth day in a row, remarkable considering the volatility last week. today, buyers are in charge. the tech heavy nasdaq come up
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when 9%, it's best a day since early august. best&p 500 on pace for its four days in more than a month. this is interesting only because sentiment is bullish but becoming less bullish. we see the bullish sentiment really climbing here back in march out of volatility in february, and staying relatively high, but nonetheless declining. the russell 2000 is at an all-time high. the s&p 500 is a few points away from an all-time high. it could suggest it may not stick around. as for movers on the day, let's look at some of the machinery and industrial companies. this may come on the headlines around president trump and the idea he will seek to roll back some of those obama pollution limits. we seek caterpillar, manitowoc day,eere higher on the
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giving a boost to the dow and s&p 500. and then a mixed picture here. 10.4%.wn these companies having the worst day since june. these companies beat estimates, but the forecast was disappointing for outrider -- for altria. looks like more rigorous smoker sharing going towards e-cigarettes. shery: microsoft saying they have intercepted a cyber attack from russian military hackers. response next. this is bloomberg. ♪
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♪ shery: this is bloomberg markets bounce up our. david: we turn to mark crumpton. mark: as we have been reporting, jurors in the paul manafort fraud trial may be closer to a verdict. the panel asked a judge -- the judge what they should do if they cannot agree in one of the 18 counts. the jury is in its fourth day of deliberations. prosecutors say manafort hid tens of millions of foreign income from ukraine. they also say he lied on loan applications to obtain millions more to maintain a lavish lifestyle. is trump administration launching another assault on the obama climate legacy. officials unveiled a plan to weaken limits on coal fire
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plants. it would give states the latitude to set their own requirements. the treasury department says russia's conduct deserves a from response lign conductmaig deserves a strong response. pope francis will meet with victims of sexual abuse during his visit to ireland this weekend. it's the first time the vatican has confirmed a meeting with victims ahead of time. the pope is under enormous pressure to speak out strongly against abuse given ireland's history of priests who raped and melissa children and bishops who covered up for them. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries.
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i'm mark crumpton. this is bloomberg. ♪ david: overnight, we learned that microsoft thwarted russian in upcomingmetal elections -- to meddle in upcoming elections. it caught a website imitating the united states senate. we welcome a member of the house intelligence committees, joaquin castro of texas. he joins us from washington. there is a lot of partisanship in washington. i would hope, republican or democrat, we don't want foreign enemies meddling in our elections. what can congress due to protect us? >> most americans are very surprised to learn that there isn't a single federal law for the -- or even a state law that that establishes a minimum level of cybersecurity
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systems.n for voting when you hear these stories about hackers being able to get into voting machines, there isn't a single law set up to protect against that. astonishing.is so we should be able to agree as americans, not as conservatives or liberals or anything else, but as americans that our voting systems and our democracy should be protected. but there hasn't been, by and large from a strong effort made to do that. we need to get that done. david: we already have special councilroller with -- ueller. -- counsel m what can you do when you have people, through the internet, tamper with our elections? >> that's right. first of all, get vladimir putin to turnover those indicted and then be able to prosecute them.
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that will be a problem until we take actions into our own hands and actually pass laws that protect our election systems. besides domestically shoring up our election systems, we need to move forward with a cyber nato, which is the idea that allied countries would agree that we will help defend each other, but also, were necessary, on the internet, take action against russia and other nations that make offensive cyber moves and interfere with the democracies of different countries. : we heard the president is considering -- he said he is considering lifting sanctions on russia. if you were to cooperate with the u.s. on syria and the ukraine. would that be enough? >> i disagree with that. the issues with syria and ukraine are very important issues. buffett united states, there is no issue more important than the sanctity of our elections. as stunned as many were
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when president trump what to helsinki and didn't challenge jputin. he basically said that russia had no role in interfering with our elections. yes, it is a very big concern. be for best before we make beforeions for russia -- we make concessions for russia because they are cooperating with other issues, they need to deal with 2016 and stop them from doing it again. shery: should congress passed legislation that would impose mower -- more sanctions? the senate is discussing it. can the house also do it? >> we absolutely should. myself and mike turner from ohio actually proposed further sanctions on russia. the house should move on the legislation or similar legislation and the senate
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should do the same. david: do you know whether the trump administration favors those sorts of additional sanctions or not if in fact it is proven that russia is trying to interfere with november elections coming up? >> the administration has not gotten behind this legislation. that lives me to believe, obviously, because of that in action, they don't's of it -- they don't support it. administrationmp will become leaders in this fight to protect our elections. so far, the evidence is not there that the president is willing to. david: you serve on the intelligence committee as well as foreign affairs. you are privy to information about what happened to 2016. are there things you know or that we know about 2016 that could help us protect ourselves now in 2018? >> absolutely. some of that is very public information now. i think this microsoft catching these threats to the hudson institute and other conservative think tanks, i think a lot of that is in -- thanks in part to
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what we learned about russian method of operation and how they go about basically doing fishing operations -- phishing operations and affecting different organizations' systems. david: there jury in the manafort trial has come back in and asked questions of the judge that might tend indicate they are close to a verdict. if in fact there is a guilty verdict, how could that fit into this overall investigation of possible russian meddling in the election? >> if paul manafort is found guilty on these charges, or at least some of the charges, that will be a big blow to president trump and his campaign team. portends, based on everything i have seen that is both public and private, it only portends more convictions, more plea agreements by others. over a year and a half ago now,
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i thought people would end up in jail. it's quite possible that paul manafort will. i don't think the indictments are done. shery: the special counsel continues his investigation. he will most likely dump all the best all of his findings to congress, to decide what to do with the findings -- dump all of his findings to congress, to decide what to do with the findings. do think there is the leadership to move this issue forward, depending on what comes out of the investigation? >> that is a great question. that is the six to $4000 question -- the $64,000 question. i hope so. if bob mueller presents a report to congress that says the president was part of a conspiracy or engaged in obstruction of justice that this congress, regardless of whether it is led by republicans or democrats, will take action. of course, there remains to be seen. david: the question in part is when will we see it?
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as a practical matter, the rulese department has about bringing persecution close to an election. do we have any hope for answers before elections? >> i have been saying for a while that bob mueller will operate in old-school ways. after mid-september, you will see the investigation go dark for a while. it will resume either with a report in findings or more prosecutions after the november elections. i think we probably only have a few weeks left at most where this investigation will be operational, so to speak, for this calendar year, at least until the elections are over. shery: a completely separate tyrell -- trial, michael: facing enarges -- michael coh facing charges, what is the sense you get that he's willing
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to cooperate with mr. mueller. one of the coleaders of that interview in the house intelligence committee, when we hen, itned michael coe does not surprise me he is considering a plea agreement. he was fairly cooperative compared to some of the witnesses. he was not as combative. his attorney was fairly ornery. we got into a few exchanges back-and-forth. seemedhael cohen himself like maybe he was transitioning away from just being a protector of donald trump into considering his own fate. david: thank you very much for your time today. that is joaquin castro texas. man whorad smith, the disclosed what microsoft found in those take sites, he will be joining the program. still ahead, the second coming of coal.
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president trump's turn to make good on his campaign promise to revive coal and restore mining jobs with a new energy plan. but how many jobs have really been treated? index is nowp 500 closing in on a new record high. we are seeing the s&p 500 index gaining half of a percent. we have already seen the s&p 500 ties 14 record closing this year. are we in the longest u.s. bull market ever? we will keep you updated. we see energy and consumer discretionary stocks leading those gains. live from new york, this is bloomberg. ♪
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♪ david: this is bloomberg markets balance of power. overhaul.rgy in a new bid to prop up coal, the trump administration unveiled a proposal to rewrite pollution standards for power plants, rolling back the obama era clean power plan. the president will tout the new proposal, dubbed the affordable
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clean energy rule, and back to -- back-to-back campaign events in west virginia. president trump has been in office for 19 months. how are these coal states doing now? >> psychologically, they are seeing some really from the , where theistration president is delivering and some of his campaign promises to remove some of the regulatory barriers to using coal and extracting it. but they are not seeing huge market dividends. y that is because the power sector is turning to renewable power. many of the changes the administration is attempting to make cap alter the market reality. -- can't alter the market
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reality. david: explain what the changes are. one is a shift from regulating emissions to regulate inefficiencies, saying get more efficient. the other is delegating the states. how do those for together? jennifer: the trump administration is still planning to regulate greenhouse gas emissions from power plants but any radically different way than the obama administration did, where the obama administration planned this expansive program where states were encouraged to shut down coal plants and use more natural gas. the trump administration proposal today would have the epa laying out in missions controls that they would like to see you -- admissions -- emission controls that they would like to see. they will leave the states the specific plans on how individual
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facilities can reduce pollution. so they will set the benchmark broadly in terms of what is technologically feasible, but give states lots of leeway in deciding what should be done at individual plants. and it may actually differ from plant to plant, even in individual states. david: if this goes through tomorrow, which it won't, but would it make coal cheaper the natural gas? jennifer: that is a tough russian dancer. the administer -- tough question to answer. proposals,of those both of those models rather, uptick, asmodest toh as 4.8% or 5% tied relatively low power prices. in a high price environment, some of those benefits would disappear, even under the administration's forecast. shery: thank you so much for
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that, with the latest on president's plans on energy efficiency. coming up next, president trump double down on twitter, vote -- warning voters about a blue wave as democrats go head-to-head for the house. if you have a bloomberg terminal, tv would be your function. you can get it on the bloomberg and check at all the interviews we have had so far on the bloomberg. live from new york, this is bloomberg. ♪
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david: this is bloomberg markets balance of power. shery: let's get a check of the averages.
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we see u.s. stocks gaining ground with the s&p 500 index just a hair away from the other record -- another record high. we are now seeing the s&p 500 the s&p 500 intraday gaining for a fourth consecutive section. the nasdaq is up almost a percent. david: we go now to mark crumpton. war crimesast nazi suspect facing deportation from the united states was taken from his new york city home and deported to germany following years of efforts to remove him from the country. the deportation of the 95-year-old former nazi camp guard came 25 years after investigators first confronted him after -- of -- confronted him with his world war ii past. he claimed he spent the war as a
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farmer and factory worker. >> the evidence shows that he is guilty. the germans to do is take him out of the end, allow him to be deported, and the german government can figure out what to do with him. mark: last september come all 29 members of new york's congressional delegation signed a letter to follow through on his deportation. said the country is ready to become "normal" again. in a televised address, he declared greece has regained its financial freedom after years of bowing to bailout creditors demands for cutbacks and reforms. greece emerged yesterday from an eight-year bailout land. in us -- bailout plan. in australia, welcome terminal has survived a challenge to his leadership. he defeated peter dutton. againll may be challenged
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within days. accusing trump is build a blah zero of ripping off his -- bill the blah zero -- of ripping off his campaign. monday with that slogan. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton, this is bloomberg. ♪ david: president trump to west virginia today to campaign for traffic -- for patrick morrissey. contestedof many races around the country as we
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get ready for the midterm elections this november. for a current straight -- current state of play, we turn to the former spokeswoman for the california republican party and the former executive director to an the new york state -- to the new york state democratic party. let's start with the west virginia senate race. joe manchin, former governor, very popular, but he is in a tight race. how do you handicap it? >> i handicap this one has to close to call. my family -- too close to call. my family is in west virginia. i'm the only person in my family that was not born there. i know the state pretty well. what matters to these common sense voters, there is really no other state outside of a couple, that really have such common sense voters, the basics are important to them. jobs are important to them.
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the economy is important to them. bringing coal mining jobs is key to them. i know joe manchin is very popular, but so is president trump right now. 's approval rating is very high and getting higher with democrats. joe manchin to be worried -- ought to be worried. is the president being honest with the people of west virginia? the liberalized a lot of things that the jobs have not come back yet. >> that's a great question. as much as we can talk about -- he went to carrier and tried to get those jobs back as well. the problem is that the president of the united states, that office alone, cannot bring back an entire industry. incredibly difficult to do, if not impossible. is not so much will he bring those jobs back that will he find opportunity for those who lost jobs through other things?
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we have not seen the president be able to do that. promises that are not being kept that will not be made. so you are saying make west virginia great again. [laughter] the president is already doing this. you see the growth of the u.s. just in at least 3.5% time for these 2018 midterms. growth will be the biggest since 2005. that combined with record stock markets, which a lot people did not give him credit for. they said the stock market would crash within three days of his eye duration. there would be a global contagion -- of his inauguration. there would be a global contagion. turned out to not be true. 2872 .87 was the record on january 6. where close to surpassing that.
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the president is doing so well and his approval ratings are so good, why aren't more republican candidates talking him? we have the brookings institution analyzing republican candidates headed to the midterms. among non-incumbent republicans running for the house, only 53% don't talk about the president at all. why? >> some of these folks are in swing districts. they are not sure yet of their footing. this has been a rough 18 months out of the gate for president trump. what you see here, he's got this record approval rating, highest in his own party, outside of george w. bush in the immediate wake of 9/11. he's got the greatest popularity of any president regardless of party, republican or democrat, again, except for george w. bush. at this point, in john f. kennedy's presidency, he was not as popular, which is astonishing. you also look at bill clinton, who was beloved by the financial community, he also -- trump also
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surpasses bill clinton. shery: vap now quoting to official sources say -- the ap two official sources say this the president is polarizing, regardless of where his numbers are. figure.polarizing what voters want -- and i do believe maybe not a blue wave -- but i doidge think voters are looking for some balance. even if they are candidates from the progressive side or candidates that may mirror more conservative interest, they are looking for the balance.
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goes outonald trump and campaigns for a candidate, voters still want push back against him. that is something democrats will hang their head on. david: the numbers are good in the economy, no question about it. it may be that this helps the republicans in november. what about in two years? is it possible that the president is speaking to early? a lot of projections are we will not stay up at this 3% to 4% rate. it will come down. will it be ok november 2020? >> i think it will be. in fact, i will go out on a limb today, august 21, and say there will be a reaganesque coalition of those who did not like trump initially, fiscal conservatives, they are coming home to roost. and democrats who care about tax reductions and jobs in the economy i think will also come over to the trump side. david: let me put it back on you
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this coming november. if jobs in the pocketbook is the most support an issue, isn't it tough to say that you will be better off with us that you are with them? >> there is a sense that, a, it is going well for some people but not the folks that donald trump necessarily wanted to get on board with him. this really great sense, surly for working people, owing to the comment earlier about coal, that there our a lot of -- there are a lot of folks who still feel a german's mound of anxiety and are concerned about the stability of this president a great amountel of anxiety and are concerned about the stability of this president. >> i think president trump has surprised everyone. he has democratized prosperity. got only 8% of the african american vote.
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david: we will come back and do this again. there's no question he surprised people. democratized prosperity, we can debate. thank you both very much for being here. ahead, we will be watching the s&p 500 very closely because we are nearing the high set on generate when he six. -- january 26. we already see record highs for the s&p 500 14 times this year already. a bullish u.s. stock market. the recorded for longest u.s. bull market ever. we are now seeing the s&p 500 very close to the new record high. we will be keeping an eye on that. this is bloomberg. ♪
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♪ david: this is bloomberg markets power. again president trump is accusing china manipulating its currency, despite it conflicting with the findings of his own administration. meanwhile, china is reiterating that it will not use the yuan rate as a tool in the trade war. this back and forth is ahead of talks between the u.s. and china on trade. thank you so much for your time. byare now seeing these moves
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china and the pboc to strengthen the yuan ahead of trade talks. can we take that as conciliatory moves from the chinese? been trying tos manage the exchange rate carefully. they have not been intervening to push it down. it is not accurate to call them a currency manipulator. but they do manage their exchange rate to some extent. the most recent move. , they pushed it up a little bit. they are looking at these trade talks. they don't want the currency to become an issue between the u.s. and china. shery: what can we expect out of these trade talks? the under secretary for net -- for international affairs, he has no trade authority. >> right. that position is usually called the chief economic diplomat of the united states. he is the appropriate person to discuss the broad economic
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issues with china. but he is not from the trade representative office. he's got a vice minister of commerce from china, somebody who deals primarily with china's trade policy. so it is a bit of a mismatch. date is really talking about talking, meaning they were -- there will not be detailed negotiations or any outcome. but it is good that they are exchanging views. the chinese are confused about what the trump administration wants. they would just like to get some clarity about what -- how the trump administration sees an end to this trade war. david: give us a sense of who has ever hand. china's sisters dick schaap -- china's statistics chief said we will not be hurt i this. the growth we are -- by this. the growth we are having is due to internal china. >> the u.s. economy is accelerating. it will grow very well this year. we had this massive fiscal
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stimulus. china's economy was already decelerating at the beginning of 2018 when the trade war started. their stock market is down 23% since the high-end january. they are definitely -- from the high in a january. -- in january. it would be a mistake for the u.s. to think that the chinese would give in in any meaningful way. the chinese are digging in and they are in it for the long haul. back: if china's economies is against s economy's back is against the wall, will they turn china's issues -- if economy's back is against the wall, will they turn to other issues? >> will they -- they will focus on how to grow their economy. they have fiscal space. they are rolling out some fiscal stimulus, different aspects of that, letting local governments
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borrow more, putting more money in health and education. they will focus more on how to fine-tune their mockery -- macro policies. there are definitely issues where we have problems with china, like the south china sea, issues around north area. i -- north korea. i don't think china will allow economic issues interfere with those. shery: thank you. from china to russia. the risk around hacking and possible breaches is growing. microsoft has discovered and seized web domains created by cyber attackers linked to the russian military in a potential attempt to manipulate and disrupt the upcoming vote. emily chang is in san francisco. emily: thanks so much. we are joined by brad smith from microsoft headquarters in redmond, washington. you said that microsoft executed
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a court order to take over control of six domains you say are associated with this group bared strontium or fancy associated with the russian government. how certain are you that this is russia? that are very confident these six domains were set up and put together to be used to harvest email credentials or passwords by this group strontium. 2016 the 84th time since -- this is the 12th order we have obtained to address the activities of this group, which we believe understand very well. what we see now is a pattern that, in many respects, is similar to what we saw in the united states in 2016 when certain campaigns and political parties were attacked. it is similar to the pattern we saw in france in 2017.
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we really saw every major candidate for the french presidency targeted. we are seeing it again. mla: you got to these websites early there's no -- emily: you got these websites early. successful, how could they have contributed to threats against democracy? >> you are right. we were able to act quickly enough to think there have not been any successful attacks in this instance. we're people attempt to do in this situation is set up a new net domain, created website, use a name that look similar to the name that people would expect to see. three of them had the word senate in it. iri, thehe letters international republican institute. employees or board members are members of the senate might start to receive emails. they would be told there is a problem with their account, that they need to go to this website.
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it would look like the senate site or the iri site. then it is off to the races for these kinds of attacks? the attackers will attempt to use that to access peoples email, to download all their email, to access the broader networks in which documents might be stored. : did any of this activity start or has any of the activity or ramp upen start after that summit in helsinki between president trump and president putin. >> i don't think that we can connect this to any specific event like helsinki. i think is more generalized like taking place in 2018 as we approach the midterm elections.
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this is a focus not just on democrats, but the international republican institute. more on the conservative side of the political spectrum. emily: you are providing to campaigns, think tanks, political organizations. >> i think there are a number of tech companies doing more. firstrosoft, we recognize we are in the business of ensuring the cybersecurity of our customers. many of these candidates and campaigns and political parties and think tanks are our customers. we want to provide state-of-the-art cybersecurity protection at no extra cost so they are on a par with our most
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sophisticated enterprise customers. we want to do this both because these are our customers and because we all have a responsibility to do more. this is a moment in time when we should reflect as a nation and really a -- really across democratic societies around the world that 21st-century democracy will flourish only if we take new steps to protect it. these steps cannot be confined to one political party or to people in government. we have to come together in the tech center, across the tech sector are, and in partnership with democratic -- the tech sector, and in partnership with democratic governments around the world. emily: there is a headline across the terminal. we chide. >> we are on -- witchhunt. >> we are on the ground. we're solid. we know exactly where this
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points. there are no witches at the end of this hunt. emily: the president has continued to waiver into whether russia was behind russian meddling -- election meddling at all. what are your words to president trump himself about the origination of these attacks? >> as i said, there's no it -- no doubt that these websites were associated with the government of russia. we are not alone in this conclusion. lots of things going on. emily: brad smith joining us from microsoft headquarters. thank you so much for joining us this morning. shery: gray confirmation --
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great conversation. hit a new0 now has milestone, a record high of 287 2. the last record high was on generate 26 when the -- january 26 when the market peaked. now reaching a new record high. we have abigail doolittle here with us. we are now seeing an all-time high for the s&p 500. depending on your definition, it could also be the longest u.s. bull market. yes, talking about the possibility of the longest bull market ever, but it does depend on how they define it. coming.een a long time the last one in january, a few days after president trump launched tariffs on wash machines and solar panels. trade war was hitting stocks back then. then there was a period volatility. the last record high, hitting it
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again just now. the bulls taking charge. some of the bowl -- some of the internals are not as high. it will be interesting whether or not this sticks around. david: what is driving this? abigail: investors are looking past these headlines. consumer discretionary behind that. up about 50% or more on the year. continued tech -- up about 15 percent or more on the year. technued to sector -- sector. the thing you have to remember, day by day, week by week, another headline comes across where we could see stocks go right back down. analystsw we have forecasting raising their forecast.
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abigail: we have seen a lot of forecasts being raised. beath we saw companies estimates but lowered guidance. uncertaintybe some around the trade situation. so time will tell. on the day, social media very strong. ery: thank you so much. the s&p 500 now at a record high, 2873, surpassing that january 26 level. we'll have more coming up. this is bloomberg. ♪ xfinity mobile is a new wireless network
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included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. i'm mark crumpton with first word news. the paul manafort trial is back at work. jurors asked the judge what they should do if they could agree on one of the 18 counts. the judge urged jurors to give
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the evidence of fresh look and try to reach consensus on all counts. he told them listen to each other but don't surrender your honest convictions. prosecutors say president trump's former campaign chairman hid millions of dollars in foreign income and light on loans applications. we will have more on the story shortly. in connection with tax fraud and banking related matters. the deal could be reached as early as today. also today a judge formally ended the attorney-client privilege review of items seized during and at the irate in april. president trump will. an aggressive campaign schedule this fall to boost republican candidates on the ballot. mr. trump is aiming to spend more than 40 days

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