VP debate live updates: JD Vance has more to gain than Tim Walz, analysts say

This is CNBC's live coverage of the 2024 vice presidential debate between Minnesota Gov. Tim Walz and Republican Sen. JD Vance of Ohio, in New York City on Oct. 1.

Republican vice presidential nominee JD Vance and Democratic nominee Tim Walz will debate Tuesday night in New York City, for their sole face-to-face showdown of the 2024 election.

CBS News is hosting the debate, but CNBC, NBC News, and other media outlets are also broadcasting the 90-minute-long event, which is set to kick off at 9 p.m. ET.

The debate is being moderated by "CBS Evening News" anchor Norah O'Donnell and "Face the Nation" host Margaret Brennan.

Vance, a 40-year-old who represents Ohio in the U.S. Senate, was tapped as the running mate of former President Donald Trump shortly before the Republican National Convention in July.

Vice President Kamala Harris, who became the Democratic nominee after President Joe Biden quit the election in mid-July, picked the Minnesota governor Walz as her running mate in early August.

Trump and Harris have debated just once this election cycle, on Sept. 10.

Harris has said she is willing to debate Trump again before Election Day. But the Republican so far has ruled that out.

CNBC reporters will be live blogging Tuesday's campaign news from New York City, Washington, San Francisco and Englewood Cliffs, N.J.

Vance is playing for more at tonight's debate due to his already low approval ratings, PIMCO analysts say in a new report.

Typically, the analysts note, VP debates tend to have a negligible effect on presidential races. But given that this election is set to be won "by a matter of inches, not feet" the running mates' performances tonight may carry heavier weight than usual.

So far, Vance's comments about