On the campaign trail

Good morning. Donald Trump tries to move past the controversy over racist remarks at his Madison Square Garden rally. Boeing and union leaders are back at the negotiating table. And the Yankees come back in Game 4 to avoid losing in a World Series sweep. Listen to the day’s top stories.

On the campaign trail, Donald Trump tried to move past the controversy over racist remarks made at his Madison Square Garden rally, saying he’d seize the assets of drug cartels and gangs to provide compensation to victims. Kamala Harris said another Trump presidency would be steeped in chaos and vowed to work on immigration reform with Congress if elected.

Fires at ballot boxes in Vancouver, Washington, and Portland, Oregon, are being investigated by the FBI and US Attorney’s Office. (Both states use mail-in ballots.) Meanwhile, conspiracy theorists who believe Trump won the 2020 election are using Telegram to monitor and film polling places in US swing states, an effort that civil rights groups say risks suppressing voter turnout.

Elon Musk’s AI startup xAI is looking for new funding at a $40 billion valuation, a person familiar said. That would make it one of the most valuable startups in the US and comes just months after a separate financing for the startup brought in $6 billion. On the heels of Alphabet yesterday, Meta and Microsoft report earnings after the bell today.

Bitcoin is on the cusp of topping a record high of almost $74,000 reached in March. The cryptocurrency briefly climbed to as high as $73,564 yesterday in New York. Some analysts say Trump’s elevated odds in election betting markets are fueling the demand, as he’s embraced digital assets during his campaign.

Boeing and union leaders held “productive” talks yesterday with acting US Labor Secretary Julie Su as they try to end a seven-week labor dispute that’s crippling the planemaker’s manufacturing. Boeing expects to keep burning cash into next year rather than generating it. Earlier this week, it raised $21.1 billion in an expanded share sale—one of the largest ever by a public company—to help shore up its balance sheet.

Murders, violent crime and drug seizures have increased in Chile, consuming the government of President Gabriel Boric and marking a big shift for a country that has almost no history of criminal gangs.

China’s bid for tech supremacy is making steady progress despite six years of US tariffs, controls and sanctions. Now the risk is that those policies end up isolating America instead.

Bitcoin’s rally is known at the quintessential Trump trade, Richard Abbey and John Authers write. And it’s path from here does appear to be as binary as the election itself. In a recent Bloomberg's MLIV Pulse Survey, respondents saw it topping $80,000 by year-end if Trump wins, but it’s seen dropping to around $65,000 if Harris is victorious.

We’re not done yet! The New York Yankees avoided losing in a World Series sweep, beating the LA Dodgers 11-4 after Anthony Volpe’s third-inning grand slam. Game 5 takes place tonight at Yankee Stadium. But one group of Shohei Ohtani fans is going to be missing out.

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