RNC Day 2 Underway in Dallas

Watch on YouTube ↗  |  September 10, 2026 at 23:26  |  54:21  |  Bloomberg Markets
Speakers
Doug Burgum — US Secretary of the Interior
Rick Crawford — U.S. Representative (R-AR), Chair of House Intelligence Committee
Scott Turner — US Housing and Urban Development Secretary
Ken Paxton — Texas Attorney General and Republican Senate candidate
Jason Crow — U.S. Congressman (D-CO), Member of House Intelligence and Foreign Affairs Committees
Jess — CEO, WalletConnect
Kailey — Anchor, Bloomberg
Beto O'Rourke — Former US Representative, Texas

Summary

Bloomberg's Balance of Power broadcasts from the Republican midterm convention in Dallas, featuring interviews with Interior Secretary Doug Burgum, Texas Senate candidate Ken Paxton, Rep. Rick Crawford, Rep. Jason Crow, and HUD Secretary Scott Turner. Topics include the proposed $5,000 Trump dividend, the Iran war and its impact on oil prices, data center and AI infrastructure buildout, housing affordability, and the Texas Senate race. Market context includes crude oil at multi-month highs, rising bond yields, and lower equities.

  • RNC midterm convention in Dallas features Trump-aligned officials and candidates.
  • Interior Secretary Burgum discusses domestic energy production, natural gas, data centers, and water concerns.
  • Ken Paxton and Beto O'Rourke comment on the tight Texas Senate race.
  • Rep. Crawford and Rep. Crow debate Iran policy, ballistic missiles, and war costs.
  • Oil prices are elevated on Strait of Hormuz tensions; bond yields rise and stocks fall.
  • HUD Secretary Turner outlines deregulation efforts to lower housing costs and expand lending.
  • Trump's proposed $5,000 dividend is discussed by multiple officials and candidates.
  • AI regulation and data center growth are recurring policy and market themes.
Ideas
Doug Burgum US Secretary of the Interior 4:37
US energy production has policy tailwind
Burgum argues the U.S. should focus on increasing domestic production and moving the geopolitical center of oil and gas production back to the Western Hemisphere, which will secure low-cost energy, attract manufacturing back, and provide a long-term tailwind for the U.S. energy sector.
XLE MED
Doug Burgum US Secretary of the Interior 6:05
Cheap energy attracts US manufacturing
Burgum argues cheap and secure U.S. energy, with natural gas at $2.70 versus $20 elsewhere, will bring manufacturing jobs back to America, making the U.S. manufacturing sector a beneficiary of the energy buildout.
US manufacturing LOW
Doug Burgum US Secretary of the Interior 7:41
Data centers are beneficial AI arms race
Burgum dismisses water and grid concerns, saying hyperscalers bring their own power and can add to local grids, lower electricity costs, and support schools through compute donations; he frames data center buildout as part of the AI arms race that America must win.
DTCR AIQ MED
Rick Crawford U.S. Representative (R-AR), Chair of House Intelligence Committee 30:49
Oil should be below $80
Crawford questions why oil prices are rising despite good fundamental signals and wants WTI below $80; he suspects sanctions circumvention by Iran and China is priced in, and lower prices would be good for producers and consumers.
WTI MED
Scott Turner US Housing and Urban Development Secretary 45:36
Deregulation will boost US housing
Turner says HUD and Trump executive orders are cutting regulatory red tape, restoring local control, and bringing hometown lenders back to the mortgage market, which should lower housing costs, expand homeownership, and support the U.S. housing sector.
US Housing Sector MED
Scott Turner US Housing and Urban Development Secretary 46:17
Hometown mortgage lenders are returning
Turner says the administration is bringing hometown lenders back into the mortgage game after Dodd-Frank and will accept alternative credit scores, which should expand mortgage lending and benefit local mortgage lenders, particularly in rural areas.
Mortgage lenders MED
Scott Turner US Housing and Urban Development Secretary 47:43
Manufactured housing is affordable-housing beneficiary
Turner highlights manufactured housing as a major affordable-housing solution for about 22 million Americans and says HUD is excited about code flexibility, making the manufactured housing segment a policy beneficiary.
Manufactured Housing MED
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This Bloomberg Markets video, published September 10, 2026, features Doug Burgum, Rick Crawford, Scott Turner discussing XLE, US manufacturing, DTCR, AIQ, WTI, US Housing Sector, Mortgage lenders, Manufactured Housing. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Doug Burgum, Rick Crawford, Scott Turner  · Tickers: XLE, US manufacturing, DTCR, AIQ, WTI, US Housing Sector, Mortgage lenders, Manufactured Housing