Slow grind higher

Good morning. US stocks, gold and oil are on a long-term roll. We take a look at how cable companies are trying to stem the cord cutting. And Miami’s South Beach readies for a rebirth. Listen to the day’s top stories.

The stocks rally isn’t over, even if today doesn’t look great. The S&P 500 Index of the largest US companies is set to grind out more records this year, according to the latest Bloomberg Markets Live Pulse survey. Meanwhile, gold eked out another all-time high as tensions in the Middle East and the increasingly tight US election race drive safe-haven demand. And Bitcoin came close to $70,000 after a $2.4 billion inflow into exchange-traded funds. But markets take note: While the economics side of the equation is looking up, political hurdles lie ahead.

Oil rebounded as Israeli Prime Minister Benjamin Netanyahu held meetings with top aides to discuss the next attack on Iran, following the explosion of a drone next to his private residence. Israel expanded its bombing campaign in Lebanon to hit financial centers it says help fund Hezbollah. Watch this video that explains the situation.

Boeing and the union representing 33,000 striking members hammered out a tentative accord that notches up pay by an unprecedented 35% over four years. Tomorrow is sure to be a cliffhanger for Chief Executive Officer Kelly Ortberg as the vote and his earnings debut happen the same day. It’s just one of his many challenges.

Let’s look at tech. Perplexity, an AI company building a search product that aims to compete with Google, is said to be in early talks to raise funding from investors that would value the company at about $9 billion. There’s a growing divide in the $530 billion chip industry between who’s riding the AI wave and who isn’t. Tim Cook is just plain busy: The Apple chief’s other job is to help Nike turn things around. And we take a look at the surprisingly lucrative business of recycled e-waste.

Kamala Harris is zeroing in on defending the Democrats’ “Blue Wall” of Pennsylvania, Michigan, and Wisconsin while Donald Trump aims to win a larger share of Black, Latino and Jewish voters. The vice president predicted the former president’s profanity and vulgar remarks will repel voters. Elon Musk said the super political action committee he created will give away $1 million daily until Election Day to a signatory of a petition calling for free speech and the right to bear arms. Pennsylvania governor Josh Shapiro, who’s an advocate for Harris, called on law enforcement officials to take a look.

Now that Charter has landed deals to include most of the major streaming TV services in its cable-TV packages, the company is gearing up for the next big hurdle: getting customers to stop cutting the cord.

Even the bulls were wrong about 2024, and strategists think the S&P 500 has even more room to run, John Authers writes. But as Wall Street readies for another rally, it’s also preparing for a lost decade.

When it’s complete in 2027, Miami’s “Billionaire’s Beach” will be a sandier, sunnier version of up-market streets in Manhattan or London. More than $2.5 billion is being pumped into the project, a new chapter for an area that birthed the city’s luxury tourism industry.

Enjoying Morning Briefing? Check out these newsletters:

Explore all newsletters at Bloomberg.com.