1 00:00:02,840 --> 00:00:06,240 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:06,280 --> 00:00:10,000 Speaker 1: day Break for a Tuesday, November eight. Coming up this hour, 3 00:00:10,240 --> 00:00:12,799 Speaker 1: Americans go to the polls with control of the House 4 00:00:12,880 --> 00:00:16,279 Speaker 1: and Senate at stake. Racist in Georgia and Pennsylvania could 5 00:00:16,320 --> 00:00:18,880 Speaker 1: be key. We're also watching a close contest for New 6 00:00:18,960 --> 00:00:22,439 Speaker 1: York governor and Donald Trump. All that confirms another run 7 00:00:22,520 --> 00:00:25,200 Speaker 1: for the White House, with an announcement set for next week. 8 00:00:25,320 --> 00:00:28,120 Speaker 1: I'll speaker Nancy Pelosi speaks for the first time about 9 00:00:28,120 --> 00:00:30,920 Speaker 1: the attack on her husband. Plus a technical issue has 10 00:00:30,960 --> 00:00:34,200 Speaker 1: to lay the powerball drawing. I'm Michael Blar More Ahead, 11 00:00:34,320 --> 00:00:37,159 Speaker 1: I'm John stash Our Sports the Ravens beat the Saints, 12 00:00:37,159 --> 00:00:40,680 Speaker 1: the Nets loss, wins for the Knicks, Islanders, and st John. 13 00:00:42,680 --> 00:00:46,480 Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg 14 00:00:46,680 --> 00:00:50,479 Speaker 1: Living three on New York, Bloomberg one, Washington, d C, 15 00:00:50,880 --> 00:00:55,240 Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine six, Francisco, 16 00:00:55,600 --> 00:00:58,880 Speaker 1: Sirius x M one nineteen and around the world on 17 00:00:58,960 --> 00:01:08,080 Speaker 1: Bloomberg Radio. Come and via the Bloomberg Business at Good Morning. 18 00:01:08,080 --> 00:01:11,319 Speaker 1: I'm Nathan Hagar and I'm Karen Moscow US Dot Index 19 00:01:11,400 --> 00:01:14,200 Speaker 1: futures have been shrimming their gains this morning. They're now 20 00:01:14,200 --> 00:01:15,840 Speaker 1: a little change that We're coming up to six o 21 00:01:16,000 --> 00:01:17,600 Speaker 1: one on Wall Street, and we check the markets every 22 00:01:17,640 --> 00:01:20,720 Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and 23 00:01:20,760 --> 00:01:23,800 Speaker 1: P Futures little change so er Down futures and Nasdack 24 00:01:23,880 --> 00:01:26,920 Speaker 1: futures are up about twenty three. The decks in Germany 25 00:01:27,080 --> 00:01:29,360 Speaker 1: is up to tens of upper cent ten year treasury 26 00:01:29,440 --> 00:01:32,080 Speaker 1: up to thirty seconds yield four point to zero percent, 27 00:01:32,440 --> 00:01:34,320 Speaker 1: and the yield on the two year four point seven 28 00:01:34,400 --> 00:01:37,120 Speaker 1: one percent, and nine max scrude oil is down one 29 00:01:37,120 --> 00:01:39,880 Speaker 1: point three percent. Nathan Karen, We'll have more on the 30 00:01:39,920 --> 00:01:42,720 Speaker 1: markets in a minute, but first it is election day. 31 00:01:42,760 --> 00:01:45,360 Speaker 1: Polls are beginning to open across the country. With control 32 00:01:45,360 --> 00:01:47,440 Speaker 1: of the Senate hanging in the balance, there are tight 33 00:01:47,600 --> 00:01:51,280 Speaker 1: races shaping up in at least three states. Amy Morris 34 00:01:51,280 --> 00:01:55,720 Speaker 1: has the latest from our Bloomberg newsroom in Washington. In Pennsylvania, 35 00:01:55,760 --> 00:01:58,800 Speaker 1: the Senate race between Democrat John Fetterman and Republican Memo 36 00:01:58,920 --> 00:02:01,360 Speaker 1: Oz is neck and that I will bring change to 37 00:02:01,440 --> 00:02:04,440 Speaker 1: Washington so they treat us the way we deserve and 38 00:02:04,520 --> 00:02:07,040 Speaker 1: I'm gonna need every one of you to go out, 39 00:02:07,280 --> 00:02:10,000 Speaker 1: get your friends, get your families all ready to vote. 40 00:02:10,040 --> 00:02:12,239 Speaker 1: And Georgia, a record two and a half billion votes 41 00:02:12,280 --> 00:02:15,800 Speaker 1: are already cast. Republican challenger Herschel Walker in a dead 42 00:02:15,840 --> 00:02:19,480 Speaker 1: heat with incumbent Democratic Senator Raphael Warnut. I'll show up 43 00:02:19,480 --> 00:02:22,440 Speaker 1: for you for six more years. You got a voteus 44 00:02:22,440 --> 00:02:25,320 Speaker 1: something new in this stought November. If no candidate gets 45 00:02:25,320 --> 00:02:27,079 Speaker 1: more than fifty of the vote, it could head to 46 00:02:27,120 --> 00:02:29,440 Speaker 1: her run off in December. Be ready for days of 47 00:02:29,480 --> 00:02:32,400 Speaker 1: counting ballots. In Arizona, where a race four senator between 48 00:02:32,400 --> 00:02:35,600 Speaker 1: incumbent Democrat Mark Kelly and Republican Blake Masters, and the 49 00:02:35,639 --> 00:02:39,680 Speaker 1: goober notatorial contest between Republican Kerry Lake and Democrat Katie 50 00:02:39,680 --> 00:02:43,160 Speaker 1: Hobbs are so tight posters expect those results to come 51 00:02:43,200 --> 00:02:46,000 Speaker 1: down to just a few thousand votes. In Washington, I'm 52 00:02:46,000 --> 00:02:48,560 Speaker 1: Amy Morris, Bloomberg Daybreak. All right, Amy, thank you well. 53 00:02:48,560 --> 00:02:51,640 Speaker 1: There are several key races for governor across the country, 54 00:02:51,639 --> 00:02:54,320 Speaker 1: including a closely watched one in New York, and bloomberg 55 00:02:54,400 --> 00:02:57,320 Speaker 1: S Michael bar joins US Live with the latest on that. Michael, 56 00:02:57,560 --> 00:02:59,639 Speaker 1: thank you very much. Karen. The race for governor was 57 00:02:59,720 --> 00:03:04,160 Speaker 1: once insidered an easy win for incumbent Democratic Governor Kathy Hokel. However, 58 00:03:04,560 --> 00:03:07,280 Speaker 1: Republican Lees held and made up ground in the polls 59 00:03:07,320 --> 00:03:10,359 Speaker 1: to make it a tight race. Both candidates made their 60 00:03:10,400 --> 00:03:14,560 Speaker 1: final push to voters. Governor Hocle campaigned in Manhattan. I 61 00:03:14,639 --> 00:03:19,640 Speaker 1: always run like I'm the underdogs work harder. Pcl also 62 00:03:19,760 --> 00:03:23,800 Speaker 1: campaigned last nine in her hometown of Buffalo. Both candidates 63 00:03:23,800 --> 00:03:27,480 Speaker 1: need votes not just from Independence or Republicans, but Democrats 64 00:03:27,520 --> 00:03:31,400 Speaker 1: as well, something Zelden notes it wasn't until New Yorkers 65 00:03:31,520 --> 00:03:34,040 Speaker 1: united in the early nineties that they decided that they 66 00:03:34,040 --> 00:03:37,360 Speaker 1: were going to take back our streets. Zelden campaigned at 67 00:03:37,360 --> 00:03:39,680 Speaker 1: the scene of a subway stabbing in New York City 68 00:03:39,720 --> 00:03:43,160 Speaker 1: and is pushed to fight crime in New York. Michael Barr, 69 00:03:43,160 --> 00:03:46,760 Speaker 1: Bloomberg Radio, Nathan Karen Okay, Michael, thanks, voters are also 70 00:03:46,800 --> 00:03:49,240 Speaker 1: wearhing at least sixty six billion dollars of state on 71 00:03:49,320 --> 00:03:52,520 Speaker 1: local bond measures today to finance projects like new schools 72 00:03:52,520 --> 00:03:55,720 Speaker 1: and climate resiliency efforts. We get that story from Bloomberg's 73 00:03:55,760 --> 00:03:59,880 Speaker 1: Charlie Pellett. The proposed borrowing is more than double the 74 00:04:00,080 --> 00:04:03,920 Speaker 1: twenty seven billion dollars on ballots of this time last year, 75 00:04:04,200 --> 00:04:06,920 Speaker 1: and among the highest volume of bonds up for a 76 00:04:07,000 --> 00:04:09,840 Speaker 1: vote since at least two thousand nine. This according to 77 00:04:09,920 --> 00:04:14,120 Speaker 1: a Bloomberg analysis of a preliminary tally of bond measures 78 00:04:14,160 --> 00:04:17,760 Speaker 1: compiled by I H S Market. The increase comes of 79 00:04:17,960 --> 00:04:21,200 Speaker 1: states and cities have been collecting better than expected revenue 80 00:04:21,200 --> 00:04:24,120 Speaker 1: in the last fiscal year, shoring up the budgets after 81 00:04:24,200 --> 00:04:27,920 Speaker 1: a period of financial uncertainty at the onset of the 82 00:04:27,960 --> 00:04:33,320 Speaker 1: coronavirus pandemic in New York. Charlie Pellett Bloomberg day Break, Charlie, 83 00:04:33,320 --> 00:04:36,159 Speaker 1: thank you. While Americans hand to the polls, Donald Trump 84 00:04:36,240 --> 00:04:38,440 Speaker 1: is ramping up hands that he'll run for the White 85 00:04:38,480 --> 00:04:42,159 Speaker 1: House in the former president all but confirmed the move 86 00:04:42,200 --> 00:04:45,560 Speaker 1: at a rally last night in Dayton, Ohio. I'm going 87 00:04:45,640 --> 00:04:51,880 Speaker 1: to be making a very big announcement on Tuesday, November 88 00:04:52,000 --> 00:04:58,560 Speaker 1: fifty at bar Lago in pop Beach, Florida. Former President 89 00:04:58,600 --> 00:05:01,400 Speaker 1: Trump has been teasing your run for months. Advisors have 90 00:05:01,480 --> 00:05:03,839 Speaker 1: long urged him to hold off on an announcement until 91 00:05:03,880 --> 00:05:06,400 Speaker 1: after the mid terms. Let's get some news outside of 92 00:05:06,400 --> 00:05:09,520 Speaker 1: today's elections, Karen. Beginning in Europe, as the war between 93 00:05:09,600 --> 00:05:12,640 Speaker 1: Russia and Ukraine rages on. Sanctions continue to pile up 94 00:05:12,680 --> 00:05:14,960 Speaker 1: on Moscow. But now Bloomberg News has learned the White 95 00:05:15,000 --> 00:05:17,320 Speaker 1: House once banks like JP Morgan and City Group to 96 00:05:17,400 --> 00:05:20,760 Speaker 1: keep doing business with some strategic Russian firms. We're told 97 00:05:20,760 --> 00:05:22,800 Speaker 1: it's part of a behind the scenes effort to limit 98 00:05:22,839 --> 00:05:25,560 Speaker 1: the adverse impact of Russian sanctions on the global economy. 99 00:05:25,800 --> 00:05:28,200 Speaker 1: Even as some in Congress pound the table for stronger 100 00:05:28,240 --> 00:05:31,880 Speaker 1: steps on Wall Street, songs have rallied for two straight 101 00:05:31,960 --> 00:05:34,920 Speaker 1: days Nathan Ahead of the midterms, Morgan Stanley's Mike Wilson 102 00:05:35,000 --> 00:05:37,760 Speaker 1: says polls that show Republicans claiming at least one member 103 00:05:37,800 --> 00:05:41,120 Speaker 1: of Congress could provide a catalyst for equities. We're getting 104 00:05:41,160 --> 00:05:42,520 Speaker 1: close to the end of the bear market. We're not 105 00:05:42,600 --> 00:05:44,160 Speaker 1: there yet, but you know what you want to what 106 00:05:44,279 --> 00:05:46,599 Speaker 1: you want to try and figure out is what outperforms 107 00:05:47,040 --> 00:05:49,600 Speaker 1: in the last leg down, because I will tell you 108 00:05:49,720 --> 00:05:52,160 Speaker 1: what's going to outperform in the next leg up eventually 109 00:05:52,160 --> 00:05:54,680 Speaker 1: when we get there, and that's been industrial financials and 110 00:05:54,760 --> 00:05:57,839 Speaker 1: some of the commodity complex. Morgan Stanley's Mike Wilson says 111 00:05:57,880 --> 00:06:00,480 Speaker 1: companies will need to bring down expenses before he becomes 112 00:06:00,560 --> 00:06:04,520 Speaker 1: more optimistic on equities. Another key event for markets comes Thursday, Karen, 113 00:06:04,520 --> 00:06:07,040 Speaker 1: when we get a reading on consumer prices. Richmond FED 114 00:06:07,120 --> 00:06:10,080 Speaker 1: President Thomas Barkin says the Central Bank will persist in 115 00:06:10,160 --> 00:06:13,599 Speaker 1: efforts to bring inflation under control. Inflation should come down, 116 00:06:14,000 --> 00:06:16,760 Speaker 1: but don't expect it's drop to be immediate or predictable. 117 00:06:16,920 --> 00:06:20,200 Speaker 1: We've been through multiple shocks, as I discussed, and significant 118 00:06:20,240 --> 00:06:23,520 Speaker 1: shocks simply take time to dampen. Richmond FED President Thomas 119 00:06:23,560 --> 00:06:26,440 Speaker 1: Barkin says one key lesson from inflation in the seventies 120 00:06:26,560 --> 00:06:29,280 Speaker 1: is not to declare victory premature ly. Well, we now 121 00:06:29,360 --> 00:06:32,680 Speaker 1: turn our attention to the big climate change summit in Egypt, Nathan. 122 00:06:32,760 --> 00:06:35,320 Speaker 1: The World Bank has announced a climate Trust fund for 123 00:06:35,440 --> 00:06:37,760 Speaker 1: poorer countries, and we come up with President of the 124 00:06:37,800 --> 00:06:40,840 Speaker 1: World Bank David Malpass, the warrant u PRAM, but also 125 00:06:40,920 --> 00:06:43,480 Speaker 1: the giant amounts of government spending that we're done on 126 00:06:43,640 --> 00:06:47,400 Speaker 1: covid UH and so that that is putting upward pressure 127 00:06:47,440 --> 00:06:50,360 Speaker 1: on prices around the world, and that hits the poorest 128 00:06:50,520 --> 00:06:54,080 Speaker 1: the hardest. And World Bank President David Malpass spoke with 129 00:06:54,160 --> 00:06:56,720 Speaker 1: Bloomberg at the COP twenty seven summit in Egypt cat 130 00:06:56,760 --> 00:06:59,120 Speaker 1: More of that catch more of that conversation coming up 131 00:06:59,279 --> 00:07:02,119 Speaker 1: later in our agram. We're also watching earnings this morning, 132 00:07:02,200 --> 00:07:05,880 Speaker 1: hearing from DuPont had reported a third quarter profit bad 133 00:07:05,920 --> 00:07:09,680 Speaker 1: beat analysts estimates and again futures this morning they are 134 00:07:09,840 --> 00:07:11,800 Speaker 1: high er s and p future is now up about 135 00:07:11,880 --> 00:07:14,960 Speaker 1: four points. And as straight ahead, we have your latest 136 00:07:15,160 --> 00:07:19,640 Speaker 1: local headlines, plus a check of sports. And this is Bloomberg. 137 00:07:23,040 --> 00:07:25,000 Speaker 1: Thanks caring at six oh seven on Wall Street, now 138 00:07:25,080 --> 00:07:27,880 Speaker 1: forty seven degrees in Central Park out of crash northbound 139 00:07:27,920 --> 00:07:31,320 Speaker 1: Cross Island Parkway at Belle Boulevard. Details coming up in traffic. First, 140 00:07:31,440 --> 00:07:33,760 Speaker 1: Michael Barr's back with what else is happening in New 141 00:07:33,840 --> 00:07:36,720 Speaker 1: York and around the world. Michael, thank you very much. Nathan. 142 00:07:36,800 --> 00:07:39,640 Speaker 1: There are other races being watched in the Tri state 143 00:07:39,720 --> 00:07:43,720 Speaker 1: area as well. In Connecticut, Democratic Governor Not Lamont is 144 00:07:43,880 --> 00:07:48,600 Speaker 1: up against Republican challenger Robert Stefanowski, and Lamont spoke earlier 145 00:07:48,720 --> 00:07:52,600 Speaker 1: with Bloomberg about his state. I think the economy front 146 00:07:52,640 --> 00:07:56,480 Speaker 1: and center. Uh. Here in Connecticut, we've been flat as 147 00:07:56,520 --> 00:07:58,880 Speaker 1: a pancake for thirty years. We hadn't added a new 148 00:07:59,000 --> 00:08:01,680 Speaker 1: job in thirty years. Uh, And we were going from 149 00:08:01,760 --> 00:08:05,320 Speaker 1: physical crisis to fiscal crisis. It was a pretty lousy story, 150 00:08:05,960 --> 00:08:09,120 Speaker 1: and the last you know, four or five years were 151 00:08:09,160 --> 00:08:12,080 Speaker 1: beginning to turn things around. In the U S. Senate, 152 00:08:12,160 --> 00:08:16,640 Speaker 1: Democrat Richard Bloomenthal is up against Republican Theora Leaving how 153 00:08:16,720 --> 00:08:19,560 Speaker 1: Speaker Nancy Pelosi said the attack on her husband Paul 154 00:08:19,640 --> 00:08:22,400 Speaker 1: would be a factor in deciding her political future and 155 00:08:22,520 --> 00:08:25,960 Speaker 1: expressed dismay that Donald Trump and others, including Elon Musk, 156 00:08:26,320 --> 00:08:30,320 Speaker 1: had cast doubt on the attack. Pelosi told CNN last night, 157 00:08:30,520 --> 00:08:32,880 Speaker 1: you see what the reaction is on the other side 158 00:08:32,960 --> 00:08:35,520 Speaker 1: to this, to make a joke of it, and really 159 00:08:35,679 --> 00:08:39,880 Speaker 1: that is traumatizing to US. Supreme Court justices have signaled 160 00:08:39,960 --> 00:08:42,920 Speaker 1: they may open new avenues that could weaken the clout 161 00:08:43,320 --> 00:08:47,000 Speaker 1: of the Securities and Exchange Commission and Federal Trade Commission. 162 00:08:47,280 --> 00:08:50,600 Speaker 1: Bloomberg said Baxter as the story. The justices are considering 163 00:08:50,679 --> 00:08:54,719 Speaker 1: cases regarding claims going directly to federal court. The two 164 00:08:54,800 --> 00:08:58,480 Speaker 1: regulatory agencies have been very busy. The SEC file more 165 00:08:58,559 --> 00:09:01,200 Speaker 1: than seven hundred and four reisment actions in the flash 166 00:09:01,240 --> 00:09:04,600 Speaker 1: fiscal year and one judgments and orders worth six point 167 00:09:04,679 --> 00:09:08,320 Speaker 1: four billion dollars. The FTC is seeking to break up 168 00:09:08,440 --> 00:09:12,959 Speaker 1: meta platforms and investigating Amazon, among other initiatives, returned two 169 00:09:13,040 --> 00:09:16,079 Speaker 1: point four billion of consumers last year. It is a 170 00:09:16,160 --> 00:09:19,319 Speaker 1: conservative court and it could decide the question of the 171 00:09:19,520 --> 00:09:24,240 Speaker 1: value of regulation visa v. More free commerce. In San Francisco, 172 00:09:24,320 --> 00:09:28,040 Speaker 1: I'm at Baxter Bloomberg Gay Break. The Powerball lottery jackpot 173 00:09:28,240 --> 00:09:31,640 Speaker 1: is one point nine billion dollars. That's a lot of 174 00:09:31,760 --> 00:09:34,199 Speaker 1: zeros on there. You can't win if you don't play well, 175 00:09:34,240 --> 00:09:36,520 Speaker 1: you definitely can't win. Then on draw the numbers either. 176 00:09:36,600 --> 00:09:40,160 Speaker 1: The Multi State Lottery Association says that the powerball drawing 177 00:09:40,320 --> 00:09:43,840 Speaker 1: was delayed last night and we won't know the official 178 00:09:43,920 --> 00:09:47,520 Speaker 1: results until later. The record breaking drawing was delayed because 179 00:09:47,559 --> 00:09:52,040 Speaker 1: of participating lottery had issues processing sales. Global News twenty 180 00:09:52,080 --> 00:09:54,920 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 181 00:09:55,200 --> 00:09:58,200 Speaker 1: powered by more than seven hundred journalists and analysts more 182 00:09:58,200 --> 00:10:00,800 Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg 183 00:10:01,080 --> 00:10:09,320 Speaker 1: Bottle Volatility. Thank you, Michael. Almost six ten on Wall 184 00:10:09,320 --> 00:10:11,040 Speaker 1: Street Time for the Bloomberg Sports that they brought to 185 00:10:11,040 --> 00:10:12,880 Speaker 1: you by Tri State out He with John Stag shows 186 00:10:12,920 --> 00:10:15,480 Speaker 1: All righty Bean, Busy night at basketball, Open to night 187 00:10:15,520 --> 00:10:18,640 Speaker 1: in the College GAI. The entire preseason top twenty five 188 00:10:18,720 --> 00:10:21,760 Speaker 1: played and they all won, including Duke new coach John 189 00:10:21,800 --> 00:10:24,200 Speaker 1: shire Villa and open for new coach Kyle Neptune. They 190 00:10:24,240 --> 00:10:26,839 Speaker 1: replaced for the Hall of Fame coaches Mike Schefski and 191 00:10:26,920 --> 00:10:29,120 Speaker 1: Jay Right. St John's won it's opener by twenty five 192 00:10:29,440 --> 00:10:32,760 Speaker 1: over Mary Mac also fifteen NBA games with a message, 193 00:10:32,800 --> 00:10:35,280 Speaker 1: and all of them to remind fans to vote. That's 194 00:10:35,320 --> 00:10:37,920 Speaker 1: why the NBA will not play any games tonight. Nixon 195 00:10:38,000 --> 00:10:40,960 Speaker 1: Minnesota scored seventy six points in the first half went 196 00:10:41,000 --> 00:10:43,640 Speaker 1: on to win one one oh seven thirty one point 197 00:10:43,720 --> 00:10:46,200 Speaker 1: for Julius Randolly made eight three pointers. The Nets lost 198 00:10:46,240 --> 00:10:50,360 Speaker 1: in Dallas nineties four Luke Donson's thirty six points of 199 00:10:50,400 --> 00:10:52,840 Speaker 1: the mass kebin A Rand twenty six for Broken Milwaukee 200 00:10:52,960 --> 00:10:55,880 Speaker 1: lost for the first time Cleveland for just a second time. 201 00:10:55,920 --> 00:10:59,280 Speaker 1: The Lakers lost by twenty three at Utah. The Lakers 202 00:10:59,360 --> 00:11:01,839 Speaker 1: are two and a. The Jazz traded their two best 203 00:11:01,880 --> 00:11:04,160 Speaker 1: players in the off season, yet they are a surprising 204 00:11:04,320 --> 00:11:06,800 Speaker 1: nine and three. Islanders made it five the last six. 205 00:11:06,840 --> 00:11:09,360 Speaker 1: They meet Calgary for three and overtime Monday Night football. 206 00:11:09,520 --> 00:11:12,560 Speaker 1: Ravens and Saints Daxus and chief of eights, telling right, 207 00:11:12,600 --> 00:11:14,400 Speaker 1: look at the town now he loved to touch to 208 00:11:14,480 --> 00:11:21,160 Speaker 1: kennet Ella marlton I j unlikely just behind the secondary. 209 00:11:21,720 --> 00:11:24,599 Speaker 1: The Ravens tried first in New Orleans. The a L 210 00:11:24,640 --> 00:11:26,760 Speaker 1: had the call. Baltimore went on to win twenty seven 211 00:11:26,880 --> 00:11:29,079 Speaker 1: to thirteen at six and three, first place in the 212 00:11:29,200 --> 00:11:31,920 Speaker 1: a f C North. The Colts have only three wins. 213 00:11:31,960 --> 00:11:34,720 Speaker 1: They just fired coach Frank Wright replaced him on an 214 00:11:34,760 --> 00:11:38,120 Speaker 1: interm basis with former Indianapolis lineman Jeff Saturday, who has 215 00:11:38,160 --> 00:11:42,280 Speaker 1: no previous NFL coaching experience. Giant safety's Avian McKenney spent 216 00:11:42,440 --> 00:11:44,800 Speaker 1: his bye week in Cabo and heard his hand in 217 00:11:44,840 --> 00:11:47,760 Speaker 1: an a TV accident. He's one of the better defensive players. 218 00:11:47,800 --> 00:11:49,880 Speaker 1: He's gonna miss at least a month. John Scash at 219 00:11:50,000 --> 00:11:52,280 Speaker 1: Bloomberg Sports, Nathan all Right, John thank U s ANDP 220 00:11:52,400 --> 00:11:54,960 Speaker 1: futures up five points South, futures of forty eight, NASTAC 221 00:11:55,040 --> 00:11:58,160 Speaker 1: futures up forty points up. Next, we hear from World 222 00:11:58,200 --> 00:12:01,240 Speaker 1: Bank President David Ball pass from the COP twenty seven 223 00:12:01,320 --> 00:12:07,760 Speaker 1: summit in Charmel Shake, Egypt. This is Bloomberg Bloomberg Sports 224 00:12:07,800 --> 00:12:09,319 Speaker 1: was brought to you by Autie. You don't let someone 225 00:12:09,360 --> 00:12:11,400 Speaker 1: else drive off in the outie model. You've always wanted 226 00:12:11,400 --> 00:12:13,480 Speaker 1: to visit your local price state Autie dealer to get 227 00:12:13,520 --> 00:12:16,040 Speaker 1: behind the wheel of yours today, or visit Autie Offers 228 00:12:16,160 --> 00:12:24,199 Speaker 1: dot com for more information, markets, headlines and breaking news 229 00:12:24,360 --> 00:12:26,959 Speaker 1: twenty four hours a day at Bloomberg dot com. The 230 00:12:27,040 --> 00:12:30,520 Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape is a 231 00:12:30,559 --> 00:12:39,520 Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. You US dock 232 00:12:39,600 --> 00:12:42,960 Speaker 1: index futures on the rise this morning as investors await 233 00:12:43,040 --> 00:12:47,120 Speaker 1: the outcome of the midterm elections. Treasuries UH they raised 234 00:12:47,280 --> 00:12:50,520 Speaker 1: losses ahead of Thursday's inflation report, and we checked the 235 00:12:50,559 --> 00:12:53,800 Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg 236 00:12:53,880 --> 00:12:56,319 Speaker 1: U S and P futures at five points down features 237 00:12:56,360 --> 00:12:59,199 Speaker 1: of forty seven, nastag features up forty The decks in 238 00:12:59,240 --> 00:13:02,480 Speaker 1: Germany's epic quarter percent ten your treasury a three thirty 239 00:13:02,520 --> 00:13:04,880 Speaker 1: seconds he had four point to zero percent. They yield 240 00:13:04,920 --> 00:13:07,719 Speaker 1: them a two year four point seven one percent. Nine 241 00:13:07,880 --> 00:13:10,040 Speaker 1: X freude oil is down one point four percent on 242 00:13:10,160 --> 00:13:12,480 Speaker 1: a dollar thirty three and ninety dollars forty six cents 243 00:13:12,520 --> 00:13:15,160 Speaker 1: of errol Comex school down four ten percent or six 244 00:13:15,200 --> 00:13:18,360 Speaker 1: dollars forty cents at sixteen seventy four ten announced. The 245 00:13:18,520 --> 00:13:21,680 Speaker 1: euro is at one point zero zero zero one against 246 00:13:21,720 --> 00:13:24,280 Speaker 1: the dollar. British found one point six one and again 247 00:13:24,360 --> 00:13:27,600 Speaker 1: one six point three to biggoin this morning is down 248 00:13:27,640 --> 00:13:31,120 Speaker 1: four point six percent at nineteen thousand, seven hundred dollars. 249 00:13:31,400 --> 00:13:33,800 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 250 00:13:33,920 --> 00:13:36,320 Speaker 1: Moore ONUN What's going on around the world. Michael, thank 251 00:13:36,360 --> 00:13:39,920 Speaker 1: you very much. Karen. It is election day. The nation 252 00:13:40,000 --> 00:13:42,560 Speaker 1: has its high on several key races that could change 253 00:13:42,600 --> 00:13:45,599 Speaker 1: the balance. In Washington, thirty five Senate seats are on 254 00:13:45,679 --> 00:13:49,120 Speaker 1: the ballot. Former President Trump, speaking in Dayton, Ohile, says 255 00:13:49,160 --> 00:13:51,360 Speaker 1: he will make a big announcement on November fifteen, That 256 00:13:51,520 --> 00:13:54,800 Speaker 1: is Mara Lago Estate. Trump had been teasing for months 257 00:13:54,880 --> 00:13:59,720 Speaker 1: he'd run again. Meanwhile, President Biden traveled campaign in Maryland. 258 00:14:00,080 --> 00:14:03,120 Speaker 1: Biden acknowledged Democrats face a tougher challenge holding the House 259 00:14:03,240 --> 00:14:05,480 Speaker 1: than the Senate. In the NBA the next one, the 260 00:14:05,559 --> 00:14:08,800 Speaker 1: Nets lost the Celtics, Wizards and Warriors all one. In 261 00:14:08,880 --> 00:14:11,599 Speaker 1: the NHL, the Islanders won in ot against Flames for 262 00:14:11,840 --> 00:14:14,920 Speaker 1: three the Bruins and Capitals. Also one Monday Night Football. 263 00:14:15,000 --> 00:14:18,760 Speaker 1: The Ravens beat the global news twenty four hours a 264 00:14:18,840 --> 00:14:22,160 Speaker 1: day on air and on Bloomberg Quicktake, powered by more 265 00:14:22,280 --> 00:14:24,960 Speaker 1: than twenty seven journalists and antalist more than a hundred 266 00:14:25,000 --> 00:14:28,680 Speaker 1: twenty countries. Michael Barn this is Bloomberg, Nathan. Thank you Michael. 267 00:14:28,720 --> 00:14:30,520 Speaker 1: It is six nineteen on Wall Street Live from the 268 00:14:30,560 --> 00:14:34,040 Speaker 1: Bloomberg Interacted Broker Studios. This is a Bloomberg day Break 269 00:14:34,160 --> 00:14:36,440 Speaker 1: on this election day. We're also keeping an eye on 270 00:14:36,600 --> 00:14:40,720 Speaker 1: United Nations climate talks in Egypt. The World Bank is 271 00:14:40,800 --> 00:14:44,800 Speaker 1: warning about food shortages and inflation hitting the poorest, as 272 00:14:44,960 --> 00:14:49,360 Speaker 1: COVID spending and the energy crisis create real problems for 273 00:14:49,440 --> 00:14:52,720 Speaker 1: the developing world. At COP twenty seven in Charmel Shank 274 00:14:52,800 --> 00:14:57,200 Speaker 1: the World Bank announced a Climate Trust fund for poorer countries. Earlier, 275 00:14:57,240 --> 00:14:59,920 Speaker 1: Bloombergs ferencing lackwalk hot up with World Bank President Dave 276 00:15:00,080 --> 00:15:02,800 Speaker 1: mall Pass and he says more investment will be needed 277 00:15:02,920 --> 00:15:07,360 Speaker 1: to tackle climate change. Of course, more resources are really important, 278 00:15:07,440 --> 00:15:10,680 Speaker 1: both for the climate crisis but also for the financial 279 00:15:10,760 --> 00:15:14,520 Speaker 1: crisis affecting the developing countries. I really think we are 280 00:15:14,640 --> 00:15:18,400 Speaker 1: facing a crisis in development, and that means the reversals 281 00:15:18,480 --> 00:15:22,320 Speaker 1: on education, that means the higher interest rates, the inflation, 282 00:15:22,720 --> 00:15:26,960 Speaker 1: the shortages of fertilizer, which are really daunting for the 283 00:15:27,080 --> 00:15:31,080 Speaker 1: developing world. So those are all problems that take resources. 284 00:15:31,400 --> 00:15:34,920 Speaker 1: So it's uh, it's it's a giant part of the 285 00:15:35,040 --> 00:15:38,200 Speaker 1: way the world needs to think about the relationship with 286 00:15:38,360 --> 00:15:42,000 Speaker 1: developing countries, and that's occurring here at this conference as well. 287 00:15:42,240 --> 00:15:45,480 Speaker 1: So it is the climate change, you know, Lens the 288 00:15:45,560 --> 00:15:47,280 Speaker 1: best way to look at it. You're right, we also 289 00:15:47,280 --> 00:15:49,880 Speaker 1: have inflation, we have a cost of living crisis, we 290 00:15:50,040 --> 00:15:53,040 Speaker 1: have people being left out of the financial system. How 291 00:15:53,200 --> 00:15:56,040 Speaker 1: should climate change be a priorities a top three or 292 00:15:56,120 --> 00:16:00,360 Speaker 1: top five from the standpoint of the developing countries, they're 293 00:16:00,400 --> 00:16:02,880 Speaker 1: failing all of them together. So it's a matter of 294 00:16:03,000 --> 00:16:05,960 Speaker 1: how do you finance the adaptation needs? How do you 295 00:16:06,080 --> 00:16:10,280 Speaker 1: finance education and child nutrition? Uh? And so I I 296 00:16:10,760 --> 00:16:17,360 Speaker 1: think of it as a giant resource need that can 297 00:16:17,440 --> 00:16:22,240 Speaker 1: be filled by grants from the advanced economies. By by So, 298 00:16:22,360 --> 00:16:25,480 Speaker 1: the World Bank has one of the largest trust funds 299 00:16:25,600 --> 00:16:29,720 Speaker 1: IDA IDEA that goes to the seventy forest countries. So 300 00:16:29,960 --> 00:16:33,560 Speaker 1: one way is huge amounts of grant money put in 301 00:16:33,880 --> 00:16:37,600 Speaker 1: and we we then dispersed that in various U programs, 302 00:16:37,640 --> 00:16:41,600 Speaker 1: both country programs, but very importantly regional programs and knowledge 303 00:16:41,680 --> 00:16:45,480 Speaker 1: programs that help the country's adapt to climate change. For example, 304 00:16:45,640 --> 00:16:48,920 Speaker 1: I'm just back from South Africa. Over the weekend, we 305 00:16:49,120 --> 00:16:52,600 Speaker 1: decommissioned a coal fired power plant, working with the South 306 00:16:52,680 --> 00:16:57,080 Speaker 1: African government. This is a microcosm of what's needed in 307 00:16:57,160 --> 00:17:01,160 Speaker 1: the world. How do you finance large scale mitigation efforts 308 00:17:01,320 --> 00:17:04,760 Speaker 1: in poorer country or in developing countries. And when you 309 00:17:04,800 --> 00:17:06,880 Speaker 1: look at, of course what we've seen over the last 310 00:17:06,920 --> 00:17:09,720 Speaker 1: twelve months, it's a war in Ukraine that's driving inflation, 311 00:17:09,880 --> 00:17:13,359 Speaker 1: but it's also energy security. How has that changed funding 312 00:17:13,440 --> 00:17:17,920 Speaker 1: mentally the talk on climate change and sustainability, It's added 313 00:17:18,000 --> 00:17:21,560 Speaker 1: to the burden and made even more urgency. So it's 314 00:17:21,640 --> 00:17:24,080 Speaker 1: the war in Ukraine, but also the giant amounts of 315 00:17:24,160 --> 00:17:27,040 Speaker 1: government spending that we're done on covid UH and so 316 00:17:27,520 --> 00:17:31,080 Speaker 1: that that is putting upward pressure on prices around the world, 317 00:17:31,280 --> 00:17:35,040 Speaker 1: and that hits the poorest the hardest. They feel inflation 318 00:17:35,200 --> 00:17:39,400 Speaker 1: the most day. Also very painfully are feeling the extreme 319 00:17:39,520 --> 00:17:42,960 Speaker 1: poverty now and the food shortages. Uh, That's why I 320 00:17:43,040 --> 00:17:46,919 Speaker 1: mentioned fertilizers such an important source because it comes from 321 00:17:47,080 --> 00:17:49,840 Speaker 1: natural gas, and as the natural gas it goes to 322 00:17:49,960 --> 00:17:54,880 Speaker 1: Europe to make up for the Russia. The Russia reductions, 323 00:17:55,200 --> 00:17:57,680 Speaker 1: then that puts a drain on fertilizer and food in 324 00:17:57,760 --> 00:18:02,879 Speaker 1: the developing world, so they they combine and climate change 325 00:18:02,960 --> 00:18:06,080 Speaker 1: then is one important aspect of what has to be 326 00:18:06,200 --> 00:18:09,320 Speaker 1: dealt with. I know you've put out a statement after 327 00:18:09,359 --> 00:18:11,719 Speaker 1: the controversy, but there has been a lot of questions 328 00:18:11,760 --> 00:18:15,280 Speaker 1: about whether your climate change believer are you can you 329 00:18:15,359 --> 00:18:18,360 Speaker 1: can loose at the record strant once and for all. Yes, 330 00:18:18,480 --> 00:18:21,800 Speaker 1: of course, it's clear that human activity is contributing to 331 00:18:21,960 --> 00:18:24,680 Speaker 1: the global warming, and so we need to have action 332 00:18:25,280 --> 00:18:28,160 Speaker 1: and impact. That's what the World Bank is doing, massive 333 00:18:28,200 --> 00:18:30,639 Speaker 1: amounts of action every day. A big chunk of my 334 00:18:30,840 --> 00:18:36,399 Speaker 1: job is taking action on mitigation reducing greenhouse gas emissions. 335 00:18:37,000 --> 00:18:38,760 Speaker 1: You know, there are a lot of conferences, but when 336 00:18:38,800 --> 00:18:41,120 Speaker 1: you really get to it, what we did in South 337 00:18:41,200 --> 00:18:45,720 Speaker 1: Africa is important. That's decommissioning and then repurposing the land 338 00:18:45,840 --> 00:18:49,119 Speaker 1: so that electricity can be made from solar panels in 339 00:18:49,200 --> 00:18:53,000 Speaker 1: this particular project, and also taking account of the people 340 00:18:53,119 --> 00:18:56,760 Speaker 1: that are impacted by the climate change going on. So 341 00:18:57,040 --> 00:19:01,159 Speaker 1: I'll be uh announcing and presenting today a big trust 342 00:19:01,200 --> 00:19:04,360 Speaker 1: fund by the World Bank called Scale that will bring 343 00:19:04,480 --> 00:19:09,399 Speaker 1: global resources in to to fund the climate actions by 344 00:19:09,480 --> 00:19:12,000 Speaker 1: poorer countries. That's a critical part. I just went to 345 00:19:12,080 --> 00:19:15,880 Speaker 1: a breakfast with with several heads of state on called 346 00:19:16,280 --> 00:19:20,280 Speaker 1: Global Shield, which is an insurance mechanism to help them 347 00:19:20,520 --> 00:19:24,880 Speaker 1: prepare for climate related disasters. And that was World Bank 348 00:19:24,920 --> 00:19:28,280 Speaker 1: President David Malpass speaking with Bloomberg's Fiancing Lakwaf from the 349 00:19:28,480 --> 00:19:31,840 Speaker 1: COP twenty seven summit in Charmel Shake, Egypt. You can 350 00:19:31,920 --> 00:19:34,960 Speaker 1: catch the full conversation on Bloomberg dot com or on 351 00:19:35,000 --> 00:19:38,119 Speaker 1: the Bloomberg terminal, and stay with Bloomberg Radio for continued 352 00:19:38,200 --> 00:19:42,400 Speaker 1: coverage of the UN climate talks in Charmel Shake. SMP 353 00:19:42,560 --> 00:19:45,399 Speaker 1: futures on this election day are higher by five points, 354 00:19:45,440 --> 00:19:48,920 Speaker 1: staff features of fifty nine and nastac features are higher 355 00:19:49,000 --> 00:19:51,800 Speaker 1: by forty four points ten. Your treasuries up three thirty seconds, 356 00:19:52,119 --> 00:19:54,359 Speaker 1: yield close to four point two zero percent yield on 357 00:19:54,440 --> 00:19:58,760 Speaker 1: the two year four point seven zero per cent. Stay 358 00:19:58,800 --> 00:20:07,480 Speaker 1: with us your list thing to Bloomberg day Break. Bloomberg 359 00:20:07,560 --> 00:20:09,119 Speaker 1: day Break is brought to you by the Jewish Communal 360 00:20:09,160 --> 00:20:11,359 Speaker 1: Fund j c F. Stoner Advised Fund is the smart 361 00:20:11,440 --> 00:20:13,639 Speaker 1: tax efficient way to manage a philanthropy. Open at j 362 00:20:13,760 --> 00:20:16,560 Speaker 1: c F Fund Now. To lock in a two tax deduction, 363 00:20:16,640 --> 00:20:23,560 Speaker 1: visit j c F n Y dot org. Broadcasting live 364 00:20:23,720 --> 00:20:27,679 Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg 365 00:20:27,680 --> 00:20:31,040 Speaker 1: E Living free to Washington, d C, Bloomberg ninety one 366 00:20:31,200 --> 00:20:34,400 Speaker 1: to Boston, Bloomberg one O six one to San Francisco, 367 00:20:34,480 --> 00:20:37,720 Speaker 1: Bloomberg non sixty to the country Sirius XM tod A 368 00:20:37,800 --> 00:20:40,679 Speaker 1: one nine team, and around the globe the Bloomberg Business 369 00:20:40,760 --> 00:20:44,760 Speaker 1: app and Bloomberg Radio dot com. This is Bloomberg Daybreak 370 00:20:50,720 --> 00:20:53,119 Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hager 371 00:20:53,400 --> 00:20:56,040 Speaker 1: and I'm Karen Moscow. We're just about three hours away 372 00:20:56,080 --> 00:20:58,000 Speaker 1: from the Open of US Training time to the five 373 00:20:58,080 --> 00:21:00,119 Speaker 1: things that you need to notice ourt your day to 374 00:21:00,240 --> 00:21:04,560 Speaker 1: you by Interactive Brokers. Interactive Brokers charges Martin Loan race 375 00:21:04,600 --> 00:21:06,720 Speaker 1: from three point five eight percent to four point five 376 00:21:06,760 --> 00:21:10,119 Speaker 1: eight percent rate subject to change. Learn more at ibkr 377 00:21:10,240 --> 00:21:14,200 Speaker 1: dot com. Slash compare First, It's Election Day, Americans go 378 00:21:14,320 --> 00:21:17,439 Speaker 1: to the polls to decide control of Congress. Jessica Taylor, 379 00:21:17,640 --> 00:21:20,480 Speaker 1: editor with the Cook Political Report, tells us momentum is 380 00:21:20,520 --> 00:21:23,919 Speaker 1: on the Republican side. The House looks further gone into 381 00:21:23,960 --> 00:21:26,360 Speaker 1: the Senate. The Senate is still going to be very, 382 00:21:26,520 --> 00:21:29,320 Speaker 1: very close. But the closer it gets to election day, 383 00:21:29,400 --> 00:21:31,840 Speaker 1: the more worried Democrats that I've talked to have gotten 384 00:21:32,000 --> 00:21:35,160 Speaker 1: and the more bullish Republicans try to just have gotten. 385 00:21:35,600 --> 00:21:38,359 Speaker 1: Jessica Taylor of The Cook Political Report spoke at our 386 00:21:38,359 --> 00:21:42,080 Speaker 1: Washington correspondent Joe Matthew on Bloomberg Sound On Catch the 387 00:21:42,080 --> 00:21:45,399 Speaker 1: program weekdays at five pm Eastern on Bloomberg Radio. Some 388 00:21:45,440 --> 00:21:49,000 Speaker 1: of those close Senate contests Karen include Pennsylvania, Ohio, Georgia, 389 00:21:49,119 --> 00:21:52,399 Speaker 1: and Arizona. Arizona's race for governor is also expected to 390 00:21:52,440 --> 00:21:55,120 Speaker 1: be close. In New York, Republican Lee z Eldon could 391 00:21:55,160 --> 00:21:57,440 Speaker 1: deliver a shocker at a governor's race that was thought 392 00:21:57,480 --> 00:21:59,720 Speaker 1: to be a shoe in for Democrats. We need the 393 00:22:00,520 --> 00:22:03,760 Speaker 1: more law enforcement les Eldon has made crime one of 394 00:22:03,840 --> 00:22:06,160 Speaker 1: his main talking points. In New York. Governor Cathy Hocle 395 00:22:06,200 --> 00:22:09,600 Speaker 1: campaigned in her hometown of Buffalo last night. Meantime, Nathan 396 00:22:09,720 --> 00:22:13,080 Speaker 1: former President Trump is not so subtly hinting at another 397 00:22:13,240 --> 00:22:17,920 Speaker 1: White House bid. I'm going to be making a very 398 00:22:18,000 --> 00:22:23,760 Speaker 1: big announcement on Tuesday, November. The former president was speaking 399 00:22:23,800 --> 00:22:26,119 Speaker 1: at a rally in Ohio last night and teasing an 400 00:22:26,119 --> 00:22:29,200 Speaker 1: announcement next week. Turning the markets now, Karen stocks have 401 00:22:29,320 --> 00:22:31,240 Speaker 1: rallied in recent days ahead of the mid terms, but 402 00:22:31,320 --> 00:22:34,320 Speaker 1: Bloomberg macro strategist Cameron Christ does not think control of 403 00:22:34,359 --> 00:22:37,800 Speaker 1: Congress will change much for investors. People tend to overestimate 404 00:22:38,000 --> 00:22:43,200 Speaker 1: the significance of individual political actors in driving economic and 405 00:22:43,280 --> 00:22:47,119 Speaker 1: certainly financial market returns. Bloomberg's Cameron Christ says this week's 406 00:22:47,119 --> 00:22:50,080 Speaker 1: consumer price index and uncertainty in China will have more 407 00:22:50,119 --> 00:22:52,480 Speaker 1: of a market impact. And at the COP twenty seven 408 00:22:52,520 --> 00:22:55,520 Speaker 1: Climate summit in Egypt, the World Bank announced a climate 409 00:22:55,560 --> 00:22:58,920 Speaker 1: trust fund for poorer countries. Bloomberg's franc Laqui spoke with 410 00:22:59,000 --> 00:23:03,120 Speaker 1: World Bank President Even Malpass. More resources are really important 411 00:23:03,240 --> 00:23:06,240 Speaker 1: both for the climate crisis but also for the financial 412 00:23:06,359 --> 00:23:10,840 Speaker 1: crisis affecting the developing countries. And here more of Bloomberg's 413 00:23:10,840 --> 00:23:14,040 Speaker 1: conversation with World Bank President David Malpass on bloomberg dot 414 00:23:14,119 --> 00:23:16,640 Speaker 1: com and on the Bloomberg Terminal. That's the five things 415 00:23:16,840 --> 00:23:19,040 Speaker 1: you need to know to start your day, brought to 416 00:23:19,119 --> 00:23:23,119 Speaker 1: you by Interactive Brokers and Futures this morning are higher 417 00:23:23,240 --> 00:23:26,160 Speaker 1: SNP Futures up eight points down, Future is up sixty 418 00:23:26,280 --> 00:23:29,359 Speaker 1: nine Nasdack Future is up fifty four. Straight ahead, your 419 00:23:29,400 --> 00:23:32,800 Speaker 1: latest local headlines, plus the check of sports, and this 420 00:23:33,560 --> 00:23:40,000 Speaker 1: is Bloomberg. Thanks hearing six three on Wall Street, forty 421 00:23:40,040 --> 00:23:42,679 Speaker 1: seven degrees in Central Park delays building on the bridges 422 00:23:42,720 --> 00:23:44,800 Speaker 1: and tunnels will fill you in the traffic shortly. First, 423 00:23:44,840 --> 00:23:46,720 Speaker 1: Michael Barr has more on what's going on in New 424 00:23:46,800 --> 00:23:50,159 Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan. 425 00:23:50,240 --> 00:23:52,920 Speaker 1: There are other races being watched in the Tri state 426 00:23:53,000 --> 00:23:57,000 Speaker 1: area as well. In Connecticut, Democratic Governor Need Lamont is 427 00:23:57,080 --> 00:24:01,440 Speaker 1: up against Republican challenger Robert Stefanowski. Lamont talked about the 428 00:24:01,560 --> 00:24:04,520 Speaker 1: infrastructure bill when he spoke to Bloomberg earlier. We got 429 00:24:04,560 --> 00:24:08,560 Speaker 1: a hundred year old bridges and old Rhodes old rails, 430 00:24:08,680 --> 00:24:11,760 Speaker 1: so this is a big deal for us. Every president 431 00:24:11,800 --> 00:24:15,040 Speaker 1: seems to be talking about infrastructure abides the first guy 432 00:24:15,119 --> 00:24:17,159 Speaker 1: since iked, as far as I could figure out, to 433 00:24:17,359 --> 00:24:19,920 Speaker 1: really be serious about it. In the U S Senate 434 00:24:20,040 --> 00:24:23,600 Speaker 1: Democrat Richard Bloominhal is up against the Republican Leo or Levy. 435 00:24:24,000 --> 00:24:27,159 Speaker 1: Speaker Nancy Pelosi is now talking about how the brutal 436 00:24:27,320 --> 00:24:30,840 Speaker 1: assault on her husband may affect her future in Congress. Pelosi, 437 00:24:30,920 --> 00:24:33,320 Speaker 1: in her first interview since the brutal hammer attack on 438 00:24:33,400 --> 00:24:37,719 Speaker 1: her husband Paul, acknowledged to Cienn's Anderson Cooper the attack 439 00:24:37,880 --> 00:24:41,320 Speaker 1: will impact her decision on her future in Congress, without 440 00:24:41,400 --> 00:24:43,920 Speaker 1: saying what the decision will be if she's no longer 441 00:24:44,000 --> 00:24:46,439 Speaker 1: Speaker of the House. I have to say my decision 442 00:24:46,440 --> 00:24:48,920 Speaker 1: will be effective about what happened the last week or two? 443 00:24:50,160 --> 00:24:52,800 Speaker 1: Will it be? Will your decision be impacted by the attack? 444 00:24:52,960 --> 00:24:57,280 Speaker 1: In anyone authorities? Saint Paul Pelosi is alleged attacker David 445 00:24:57,480 --> 00:25:01,520 Speaker 1: pop wanted to take Speaker Pelosi hostage. US Ambassador to 446 00:25:01,560 --> 00:25:04,399 Speaker 1: the U n Linda Thomas Greenfield, is traveling in Ukraine 447 00:25:04,440 --> 00:25:08,520 Speaker 1: today to reiterate American support for the independence and sovereignty 448 00:25:08,640 --> 00:25:11,840 Speaker 1: of the war torn country. Her first visit was to 449 00:25:12,040 --> 00:25:16,080 Speaker 1: a grain elevator and processing facility in the Kiev region, 450 00:25:16,119 --> 00:25:18,520 Speaker 1: where she met with farmers. The brain deal gave you 451 00:25:19,280 --> 00:25:23,200 Speaker 1: confidence to go ahead and comblished the current crop. But 452 00:25:23,320 --> 00:25:26,800 Speaker 1: also are you plant getting ready to plan again? In 453 00:25:26,880 --> 00:25:34,080 Speaker 1: the screen? Uh, we'll see your depends. Meanwhile, Russia's heavy 454 00:25:34,160 --> 00:25:38,080 Speaker 1: casualties in Ukraine have sparked an unusual public outcry and 455 00:25:38,119 --> 00:25:43,119 Speaker 1: sharp criticism of military commanders from surviving soldiers. After a 456 00:25:43,280 --> 00:25:47,240 Speaker 1: more than four d increase in Kia and Hyundai thefts 457 00:25:47,359 --> 00:25:51,480 Speaker 1: in Columbus, Ohio this year, city attorney Zach Klein says 458 00:25:51,560 --> 00:25:54,159 Speaker 1: he plans to file a lawsuit against the carmakers. He 459 00:25:54,280 --> 00:25:58,840 Speaker 1: says the suit is, in his words, knowingly selling vehicles 460 00:25:58,960 --> 00:26:02,760 Speaker 1: vulnerable to theft. It's like when your great great great 461 00:26:02,880 --> 00:26:06,080 Speaker 1: grandpa tries to operate the lottery machine. Because of a 462 00:26:06,160 --> 00:26:08,800 Speaker 1: technical problem, tonight, we are unable to bring you the 463 00:26:08,840 --> 00:26:12,000 Speaker 1: Powerball drawing at this time. As soon as we're able 464 00:26:12,040 --> 00:26:14,960 Speaker 1: to resolve the issue and conducted drawing, it will be 465 00:26:15,040 --> 00:26:18,399 Speaker 1: available for viewing on Powerball dot com and on our 466 00:26:18,480 --> 00:26:22,439 Speaker 1: YouTube channel Powerball. Nine people waiting in line for hours 467 00:26:22,520 --> 00:26:25,440 Speaker 1: for the record breaking one point nine billion dollar Powerball 468 00:26:25,560 --> 00:26:30,320 Speaker 1: lottery jackpot now after Grandpa touched the red button. Powerball 469 00:26:30,440 --> 00:26:34,600 Speaker 1: says it's delayed because a participating lottery needed more time 470 00:26:34,680 --> 00:26:38,480 Speaker 1: to process sales. Global News whatenty four hours a day 471 00:26:38,560 --> 00:26:42,720 Speaker 1: on air and on Bloomberg quicktake power by more mad journalists, 472 00:26:42,720 --> 00:26:45,040 Speaker 1: analysts more than a y countries on Michael bar this 473 00:26:45,080 --> 00:26:48,520 Speaker 1: is Bloomberg. The grandparents out of this, Michael, thank you 474 00:26:53,720 --> 00:26:56,000 Speaker 1: sixty six on Wall Soter, Let's get the Bloomberg sports 475 00:26:56,000 --> 00:26:58,680 Speaker 1: out day, prouty by try stayed out. Here's John stash hour. Alright, 476 00:26:58,760 --> 00:27:01,320 Speaker 1: Nat with Kybrie Irving story. That's suspense, a little less 477 00:27:01,480 --> 00:27:03,160 Speaker 1: drama for the Nets. They had a couple of road 478 00:27:03,200 --> 00:27:05,919 Speaker 1: wins nearly another, but the Nets fell short in Dallas 479 00:27:06,080 --> 00:27:09,119 Speaker 1: nineties six ninet before Luca Donson's thirty six points of 480 00:27:09,160 --> 00:27:11,960 Speaker 1: the mass. He joined Wilp Chamberlain as the only players 481 00:27:12,040 --> 00:27:14,560 Speaker 1: to beginning season with nine straight games with thirty or 482 00:27:14,640 --> 00:27:17,520 Speaker 1: more points. The Nets are playing better defend with Kevin Durant. 483 00:27:17,520 --> 00:27:19,199 Speaker 1: Think we followed some things on this trip that are 484 00:27:19,240 --> 00:27:20,960 Speaker 1: were for all of us to keep all of us 485 00:27:21,000 --> 00:27:24,280 Speaker 1: in the game offensively and defensively. Uh you know, I 486 00:27:24,359 --> 00:27:27,760 Speaker 1: think we uh we follow some stuff, you know, switching 487 00:27:27,880 --> 00:27:31,320 Speaker 1: and uh, you know, helping on in the post, and 488 00:27:31,600 --> 00:27:33,120 Speaker 1: it was just a little different things that we're trying 489 00:27:33,160 --> 00:27:34,800 Speaker 1: to figure out on the defensive side the ball, and 490 00:27:35,920 --> 00:27:38,200 Speaker 1: the Nets will host the NIXT tomorrow. Knicks back to 491 00:27:38,240 --> 00:27:41,000 Speaker 1: five hundred. They one in Minnesota one to one oh seven. 492 00:27:41,080 --> 00:27:43,800 Speaker 1: Nick coach Tom Thibodeaux has always resisted the idea of 493 00:27:43,840 --> 00:27:46,800 Speaker 1: playing Julius Randall at the same time as fan favorite 494 00:27:46,800 --> 00:27:48,760 Speaker 1: Obi Topp, but he did it last night. They combined 495 00:27:49,160 --> 00:27:51,640 Speaker 1: to make eleven three pointers. Randall scored thirty one points 496 00:27:51,640 --> 00:27:54,120 Speaker 1: good win to the Islanders Ubs Arena. They trailed Calvary 497 00:27:54,200 --> 00:27:56,800 Speaker 1: three one midway to the third period. Anders Lee Kal 498 00:27:56,840 --> 00:27:59,280 Speaker 1: Paul Mary scored a minute apart, and then Noah Dobson 499 00:27:59,640 --> 00:28:02,120 Speaker 1: with the minute left overtime, Islanders one, four to three. 500 00:28:02,359 --> 00:28:05,520 Speaker 1: Hopully Night. In college basketball St. John's beating merrymac By 501 00:28:05,600 --> 00:28:08,200 Speaker 1: twenty five, David Jones played twenty four minutes. He scored 502 00:28:08,200 --> 00:28:11,240 Speaker 1: twenty one points at ten rebounds. NFL Baltimore one in 503 00:28:11,280 --> 00:28:14,720 Speaker 1: New Orleans twenty seven to thirteen. Indianapolis fired coach Frank 504 00:28:14,800 --> 00:28:17,760 Speaker 1: Wright midway through his fifth season, replaced him for now 505 00:28:17,880 --> 00:28:20,119 Speaker 1: with Jeff Saturday, the ex Cult lineman who had been 506 00:28:20,160 --> 00:28:23,920 Speaker 1: working for ESPN. Giant safety 'savier McKinney heard his hand 507 00:28:23,960 --> 00:28:26,639 Speaker 1: in an a TV accident he'll miss a month. The Yankees, 508 00:28:26,720 --> 00:28:29,440 Speaker 1: as expected, picked up the fifteen million dollar option on 509 00:28:29,560 --> 00:28:32,800 Speaker 1: Luis seven Arena. John Dash a word Bloomberg Sports Nathan 510 00:28:32,880 --> 00:28:34,520 Speaker 1: all right, John, thank you. At six thirty eight on 511 00:28:34,560 --> 00:28:36,159 Speaker 1: Wall Street, time to take a look at stock, some 512 00:28:36,240 --> 00:28:38,840 Speaker 1: of the names moving in the pre market. Bloomberg Markets 513 00:28:38,880 --> 00:28:42,280 Speaker 1: Live editor Heather Burke joins us now with that, starting 514 00:28:42,280 --> 00:28:44,760 Speaker 1: off with a du Pont because we just got earnings 515 00:28:44,880 --> 00:28:49,600 Speaker 1: on that, Heather, Yeah, they're alp about in pre market, 516 00:28:49,720 --> 00:28:52,520 Speaker 1: and we generally seemed some pretty good earnings for materials 517 00:28:52,560 --> 00:28:57,400 Speaker 1: and industrial companies. UH this quarter. DuPont um et adjusted 518 00:28:57,440 --> 00:29:00,520 Speaker 1: earns per share for three Q beat the average handles estimate. 519 00:29:00,880 --> 00:29:04,600 Speaker 1: It was two estimate seventy nine. The only thing be 520 00:29:04,760 --> 00:29:08,160 Speaker 1: watching is um It sees a just to DPS has 521 00:29:08,240 --> 00:29:10,640 Speaker 1: three thirty, which is kind for at the lower end 522 00:29:10,680 --> 00:29:14,360 Speaker 1: of its range, and it's seen some consumer electronics demand weakness. 523 00:29:14,480 --> 00:29:17,160 Speaker 1: But so far in the pre market investors are happy 524 00:29:17,560 --> 00:29:20,680 Speaker 1: and right on top of the laggard's this morning in 525 00:29:20,760 --> 00:29:24,520 Speaker 1: the pre market is left. It really is getting crushed 526 00:29:24,600 --> 00:29:29,400 Speaker 1: this morning after earnings. Yeah, it's down like about pre 527 00:29:29,520 --> 00:29:32,440 Speaker 1: market trading. It's on track to hit its lower level 528 00:29:32,560 --> 00:29:36,800 Speaker 1: on record um the rods here and company's results kind 529 00:29:36,840 --> 00:29:39,400 Speaker 1: of seemed to confirm a losing market share to Uber, 530 00:29:39,920 --> 00:29:42,560 Speaker 1: and if this pre market moved holds, it would hit 531 00:29:42,600 --> 00:29:45,280 Speaker 1: the lowest level since the I p o UM. It 532 00:29:45,520 --> 00:29:49,280 Speaker 1: has weaker than expected ridership growth, and this kind of 533 00:29:49,560 --> 00:29:53,640 Speaker 1: comes in contrast to Uber, which reported last week that's 534 00:29:53,800 --> 00:29:57,080 Speaker 1: ride hailing customers are rebounded to pre pandemic levels. You know, 535 00:29:57,120 --> 00:29:59,960 Speaker 1: we got an earning Smiths as well from Trip Advised 536 00:30:00,120 --> 00:30:04,840 Speaker 1: or how's that stock doing? It's also down about in 537 00:30:04,880 --> 00:30:09,280 Speaker 1: free market trading on disappointing three quarter results. Revenue was 538 00:30:09,360 --> 00:30:13,040 Speaker 1: ahead of estimates, but the fourth quarter guidance disappointed, and 539 00:30:13,120 --> 00:30:15,840 Speaker 1: analyst kind of noted that it was increased spending on 540 00:30:16,080 --> 00:30:18,640 Speaker 1: viater as the main reason for the soft outlook, but 541 00:30:18,960 --> 00:30:21,360 Speaker 1: really looks like it's there. It's gonna be a tough 542 00:30:21,560 --> 00:30:25,880 Speaker 1: morning for a lot of these online techie stocks. And 543 00:30:26,160 --> 00:30:30,040 Speaker 1: we're looking ahead to a big name reporting earnings later 544 00:30:30,200 --> 00:30:34,040 Speaker 1: on today with Walt Disney. What's that stock doing ahead 545 00:30:34,040 --> 00:30:37,880 Speaker 1: of the report? Yeah, so they're expected to add nine 546 00:30:37,920 --> 00:30:41,520 Speaker 1: point three million subscribers to the Disney Plus streaming service, 547 00:30:41,800 --> 00:30:44,440 Speaker 1: and that's a month before introduced an ad support of 548 00:30:44,560 --> 00:30:48,640 Speaker 1: version UM. One possibly good sign is that Netflix be 549 00:30:48,840 --> 00:30:52,440 Speaker 1: internal forecast as well as analysts has expectations for the 550 00:30:52,560 --> 00:30:56,040 Speaker 1: recent quarter um. But Bloomberg Intelligence is seeing that Disney 551 00:30:56,120 --> 00:30:58,720 Speaker 1: is going to have a strong finish, So it looks 552 00:30:58,760 --> 00:31:00,600 Speaker 1: like it could be a good day for the stock. 553 00:31:01,040 --> 00:31:03,640 Speaker 1: All right, Bloomberg Markets Live editor Heather Burg can be 554 00:31:03,720 --> 00:31:06,880 Speaker 1: watching all the names once the market opens, Heather, thank you. 555 00:31:07,480 --> 00:31:10,320 Speaker 1: Futures are pointing to a higher open on this election day. 556 00:31:10,480 --> 00:31:13,160 Speaker 1: SMP futures up ten points, Staff futures up eighty eight, 557 00:31:13,480 --> 00:31:18,520 Speaker 1: Nastack futures are higher by sixty points. This is Bloomberg 558 00:31:22,360 --> 00:31:24,400 Speaker 1: and Bloomberg Sports was brought to you by Audie. Don't 559 00:31:24,480 --> 00:31:26,440 Speaker 1: let someone else drive off in the autie model. You've 560 00:31:26,440 --> 00:31:28,800 Speaker 1: always wanted to visit your local Tri state autie dealer 561 00:31:28,880 --> 00:31:31,000 Speaker 1: to get behind the wheel of yours today, or visit 562 00:31:31,040 --> 00:31:39,960 Speaker 1: autie Offers dot com for more information, markets, headlines and 563 00:31:40,120 --> 00:31:43,120 Speaker 1: breaking news twenty four hours a day at Bloomberg dot 564 00:31:43,160 --> 00:31:46,360 Speaker 1: Com and the Bloomberg Business at and at Bloomberg Quick Tape. 565 00:31:46,520 --> 00:31:56,400 Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow and 566 00:31:56,640 --> 00:31:59,280 Speaker 1: futures are on the rise. This morning. Let's go to 567 00:31:59,320 --> 00:32:01,680 Speaker 1: the first word bring gained news desk for today's morning call, 568 00:32:01,760 --> 00:32:05,760 Speaker 1: and here's Bill Maloney. Bill, good morning, Good morning Karen. 569 00:32:05,800 --> 00:32:07,760 Speaker 1: That's right. US futures are in the green right now, 570 00:32:07,800 --> 00:32:10,160 Speaker 1: A death futures up a hundred and seven points, subs 571 00:32:10,160 --> 00:32:13,720 Speaker 1: gained fourteen n and as that futures rise by seventy one, 572 00:32:14,120 --> 00:32:16,640 Speaker 1: the US ten year old at four point two percent, 573 00:32:16,760 --> 00:32:18,840 Speaker 1: Gold is down three, Oil is in the red, but 574 00:32:19,000 --> 00:32:23,120 Speaker 1: Bigcoin is trading lower by four point nine percent. Japan 575 00:32:23,400 --> 00:32:25,960 Speaker 1: rose one point three percent overnight, while Europan markets are 576 00:32:26,000 --> 00:32:28,640 Speaker 1: trading mixed right now. And back in the US, nothing 577 00:32:28,720 --> 00:32:31,960 Speaker 1: to report on the economic front after the bell last night, 578 00:32:32,040 --> 00:32:35,080 Speaker 1: Lift reported weaker than expected rider growth, take to cut 579 00:32:35,160 --> 00:32:38,920 Speaker 1: its annual bookings forecast, and Tesla closed at a seventeen 580 00:32:39,000 --> 00:32:42,880 Speaker 1: month low regarding earnings. This morning, DuPont loaded sales guidance, 581 00:32:43,120 --> 00:32:45,200 Speaker 1: and another news innvided to sell a new chip in 582 00:32:45,360 --> 00:32:49,160 Speaker 1: China that meets US rules. Wrapping things up, Scott's Miracle 583 00:32:49,200 --> 00:32:51,520 Speaker 1: Grow was raised to overvoight at Barkley's Block was raised 584 00:32:51,520 --> 00:32:55,280 Speaker 1: to outperform over at mcquarie. Live from the First Breaking 585 00:32:55,320 --> 00:32:57,720 Speaker 1: news desk, I'm Bill Maloney, Camp all right, Bill, thank you, 586 00:32:57,760 --> 00:32:59,920 Speaker 1: and to hear live breaking news of her Bloomberg time 587 00:33:00,080 --> 00:33:03,000 Speaker 1: squall on your terminal squ a w K, that's a 588 00:33:03,040 --> 00:33:05,800 Speaker 1: Bloomberg business flash now here smuckle bar with more. I'm 589 00:33:05,840 --> 00:33:08,680 Speaker 1: what's going on around the world, Karen, thank you very much. 590 00:33:08,840 --> 00:33:13,200 Speaker 1: Months of campaigning and narrow over the mid term elections 591 00:33:13,280 --> 00:33:16,920 Speaker 1: are here that will decide control of Congress and top governorships. 592 00:33:17,360 --> 00:33:21,040 Speaker 1: President Joe Biden and knowledge Democrats face a tougher challenge 593 00:33:21,080 --> 00:33:25,480 Speaker 1: holding the House than the U. S. Senate, but he's optimistic. Meanwhile, 594 00:33:25,600 --> 00:33:28,040 Speaker 1: former President Trump says he's going to be making a 595 00:33:28,240 --> 00:33:32,800 Speaker 1: very big announcement on Tuesday, November fifteen at his Maralago resort. 596 00:33:33,240 --> 00:33:36,040 Speaker 1: Trump has strongly hinted that he will announce another run 597 00:33:36,120 --> 00:33:38,760 Speaker 1: for the White House. In the NBA the next one, 598 00:33:38,880 --> 00:33:42,200 Speaker 1: the Nets lost the Celtics, Wizards, and Warriors all one. 599 00:33:42,560 --> 00:33:45,240 Speaker 1: In the NHL, the Islanders won in ot against the 600 00:33:45,280 --> 00:33:48,760 Speaker 1: Flames for three, the Bruins and Capitals. Also one Monday 601 00:33:48,840 --> 00:33:53,480 Speaker 1: Night football, the Ravens beat the Saints. Global News twenty 602 00:33:53,520 --> 00:33:56,280 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 603 00:33:56,520 --> 00:33:59,800 Speaker 1: powered by more than journalists and analysts and more than 604 00:34:00,040 --> 00:34:03,360 Speaker 1: to twenty countries. I'm Michael Barr, and this is Bloomberg. 605 00:34:03,440 --> 00:34:05,960 Speaker 1: Karen all right, Michael bar thank you. It is sixty 606 00:34:06,040 --> 00:34:07,800 Speaker 1: nine on Wall Street and we turned to news and 607 00:34:07,960 --> 00:34:10,640 Speaker 1: science and technology now with the Bloomberg and j I 608 00:34:10,760 --> 00:34:13,200 Speaker 1: T STEM Report. It is brought to you buy New 609 00:34:13,320 --> 00:34:16,399 Speaker 1: Jersey Institute of Technology as one of the nation's leading 610 00:34:16,400 --> 00:34:20,160 Speaker 1: polytechnic universities and a top military friendly school. And j 611 00:34:20,360 --> 00:34:24,440 Speaker 1: I T supports Americans, service members and their families. Learn 612 00:34:24,560 --> 00:34:27,560 Speaker 1: more at and j I T dot edu. Slash Veterans. 613 00:34:28,120 --> 00:34:31,359 Speaker 1: Now here's just making news and science, technology, engineering, and math. 614 00:34:31,880 --> 00:34:34,840 Speaker 1: The US, EU and Japan will announce the commitment to 615 00:34:34,920 --> 00:34:38,080 Speaker 1: clean up methane emissions tied to the extraction and transport 616 00:34:38,120 --> 00:34:40,520 Speaker 1: of oil and gas. It's a follow up to a 617 00:34:40,600 --> 00:34:42,560 Speaker 1: pledge they made a year ago at the U n 618 00:34:42,640 --> 00:34:45,600 Speaker 1: S Climate Change Summit. At this year's conference, about forty 619 00:34:45,640 --> 00:34:49,680 Speaker 1: countries will outline their plans for cutting methane emissions. In China, 620 00:34:49,840 --> 00:34:52,279 Speaker 1: hopes you're fading that authorities will lift a lockdown of 621 00:34:52,360 --> 00:34:56,080 Speaker 1: the area surrounding the world's largest iPhone factory. COVID cases 622 00:34:56,080 --> 00:34:58,200 Speaker 1: have more than doubled in the city of Sheng Zoe. 623 00:34:58,480 --> 00:35:00,640 Speaker 1: A seven day lockdown of the air Yeah that houses 624 00:35:00,680 --> 00:35:04,960 Speaker 1: Apple's global iPhone production based expires tomorrow. The local government 625 00:35:05,120 --> 00:35:08,680 Speaker 1: may extend the curbs, and Nintendo has cut its fiscal 626 00:35:08,800 --> 00:35:13,080 Speaker 1: year forecast for switched console sales by ten percent nineteen million. 627 00:35:13,520 --> 00:35:16,600 Speaker 1: Japanese company blames a shortfall in part on a prolonged 628 00:35:16,600 --> 00:35:19,960 Speaker 1: ship shortage. Nintendo said it's now front loading production to 629 00:35:20,120 --> 00:35:23,840 Speaker 1: maximize delivery in the holiday shopping season. That's the Bloomberg 630 00:35:23,920 --> 00:35:26,880 Speaker 1: and j I t Stem Report. Nathan Okay, Karen, thank you. 631 00:35:27,000 --> 00:35:29,600 Speaker 1: We are live from the Bloomberg Interactive Brokers studios where 632 00:35:29,600 --> 00:35:32,000 Speaker 1: at six fifty on Wall Street timed owt to check 633 00:35:32,040 --> 00:35:34,560 Speaker 1: what's going on in d C. On this mid term 634 00:35:34,640 --> 00:35:38,120 Speaker 1: election day. Americans are set to deliver an early verdict 635 00:35:38,200 --> 00:35:41,560 Speaker 1: on President Biden. President says the House will be tougher 636 00:35:41,600 --> 00:35:44,719 Speaker 1: to keep them the Senate, and former President Donald Trump 637 00:35:44,880 --> 00:35:48,279 Speaker 1: is teasing a big announcement a week from today. Let's 638 00:35:48,320 --> 00:35:50,920 Speaker 1: bring in Joe Matthew, now part of our team of 639 00:35:51,040 --> 00:35:54,879 Speaker 1: correspondence covering this mid term election, our Washington correspondent, host 640 00:35:54,960 --> 00:35:58,200 Speaker 1: of sound on Here on Bloomberg Radio. Joe, good morning. 641 00:35:58,320 --> 00:36:01,120 Speaker 1: Of course, we know midterm elections are typically tough on 642 00:36:01,239 --> 00:36:03,600 Speaker 1: the party in power. How tough could this one be 643 00:36:03,719 --> 00:36:06,520 Speaker 1: for Democrats? Well, it's interesting, you know, look, most of 644 00:36:06,600 --> 00:36:10,000 Speaker 1: the projections are not great for the House. It does 645 00:36:10,120 --> 00:36:13,040 Speaker 1: look like Republicans will take control of the House. The 646 00:36:13,160 --> 00:36:15,440 Speaker 1: Senate is a little bit more nuanced, although most of 647 00:36:15,480 --> 00:36:18,280 Speaker 1: the recent polling we've seen would suggest that the Senate 648 00:36:18,560 --> 00:36:21,600 Speaker 1: could turn red as well. Democrats lose Capitol Hill, they 649 00:36:21,719 --> 00:36:23,680 Speaker 1: keep the White House, and we have gridlock for the 650 00:36:23,719 --> 00:36:26,400 Speaker 1: next couple of years. But you know, it's it's interesting 651 00:36:26,719 --> 00:36:28,719 Speaker 1: how you define a win here, and you know this 652 00:36:28,920 --> 00:36:31,279 Speaker 1: is leave it the politicians to figure a way to 653 00:36:31,320 --> 00:36:34,160 Speaker 1: turn a loss into a win. It really comes down 654 00:36:34,200 --> 00:36:37,840 Speaker 1: to in the House, how many seats are actually flipped. 655 00:36:37,880 --> 00:36:40,319 Speaker 1: Knowing that the president has had a very low approval rating, 656 00:36:40,360 --> 00:36:42,600 Speaker 1: has been in the forties, even slipping into the thirties 657 00:36:42,680 --> 00:36:45,359 Speaker 1: at points of you know, his first two years in office. Here, 658 00:36:45,600 --> 00:36:47,600 Speaker 1: most of the projections that we're looking at from places 659 00:36:47,680 --> 00:36:50,280 Speaker 1: like cook Political Report from five thirty eight would suggest 660 00:36:50,360 --> 00:36:54,000 Speaker 1: that somewhere between five fifteen and twenty five seats, maybe 661 00:36:54,080 --> 00:36:57,200 Speaker 1: on a bad night, thirty seats flip Republican And that 662 00:36:57,280 --> 00:37:00,480 Speaker 1: would actually be pretty good on historic terms. I don't 663 00:37:00,480 --> 00:37:01,719 Speaker 1: want to go too far into this, but for a 664 00:37:01,800 --> 00:37:05,160 Speaker 1: little bit of perspective, Donald Trump lost forty seats in 665 00:37:05,320 --> 00:37:08,840 Speaker 1: his midterms. Barack Obama, you go back to Rember, he 666 00:37:08,920 --> 00:37:12,040 Speaker 1: called that a shell lacking. That was sixty three seats. 667 00:37:12,120 --> 00:37:15,160 Speaker 1: That would be considered a blood bath tonight. So as 668 00:37:15,200 --> 00:37:18,399 Speaker 1: far as things go historically, yes, the House likely to flip, 669 00:37:18,640 --> 00:37:21,240 Speaker 1: but we're not expecting to see as many individual seats 670 00:37:21,280 --> 00:37:24,960 Speaker 1: turned as we might historically. What kind of volatility are 671 00:37:25,000 --> 00:37:28,080 Speaker 1: you expecting when it comes to the possibility that we 672 00:37:28,280 --> 00:37:32,120 Speaker 1: might not know the results of some pretty closely tight 673 00:37:32,520 --> 00:37:36,759 Speaker 1: run races in some key battleground states after tonight, Well, 674 00:37:36,800 --> 00:37:38,719 Speaker 1: we're not and we're really going out of our way here, 675 00:37:38,840 --> 00:37:41,840 Speaker 1: Nathan to warn people that you're not gonna know tonight 676 00:37:42,080 --> 00:37:44,040 Speaker 1: the outcome of some of these races. You're probably not 677 00:37:44,120 --> 00:37:46,680 Speaker 1: going to know tomorrow. We may not know who controls 678 00:37:46,760 --> 00:37:49,320 Speaker 1: the Senate for a month. And the reason why I 679 00:37:49,440 --> 00:37:52,279 Speaker 1: say that is because states like Georgia, for instance, the 680 00:37:52,400 --> 00:37:56,680 Speaker 1: race between herschel Walker and Senator Raphael Warnock, if they 681 00:37:56,719 --> 00:37:59,120 Speaker 1: don't get fifty one of them and these guys are 682 00:37:59,239 --> 00:38:01,279 Speaker 1: are It's true, too close to call. They've been within 683 00:38:01,360 --> 00:38:03,879 Speaker 1: a percentage point for weeks and weeks. Now that's gonna 684 00:38:03,920 --> 00:38:07,040 Speaker 1: go to a runoff. If neither Canada gets fIF that 685 00:38:07,200 --> 00:38:09,800 Speaker 1: runoff takes place in December, that means we're gonna be 686 00:38:09,840 --> 00:38:13,200 Speaker 1: waiting quite a while here. Pennsylvania meantime, also too close 687 00:38:13,280 --> 00:38:16,120 Speaker 1: to call. That's Dr Roz and John Fetterman. Uh, they 688 00:38:16,160 --> 00:38:18,880 Speaker 1: don't even start counting the early votes. And we've had 689 00:38:18,960 --> 00:38:22,000 Speaker 1: more than forty million Americans vote early in this mid 690 00:38:22,120 --> 00:38:25,080 Speaker 1: term cycle, which is a pretty impressive number, Nathan. They 691 00:38:25,120 --> 00:38:28,800 Speaker 1: don't even get to counting those votes until poll's close 692 00:38:28,880 --> 00:38:31,400 Speaker 1: at eight o'clock tonight. So here we are on election 693 00:38:31,520 --> 00:38:33,600 Speaker 1: day and we know it's going to be days, if 694 00:38:33,680 --> 00:38:35,640 Speaker 1: not weeks, before we have a real sense of what 695 00:38:35,760 --> 00:38:38,800 Speaker 1: happens tonight. You mentioned Pennsylvania, Joe, that's one of the 696 00:38:38,960 --> 00:38:43,200 Speaker 1: few states that are competitive that President Biden has managed 697 00:38:43,239 --> 00:38:45,960 Speaker 1: to visit in these final days and weeks of the campaign. 698 00:38:46,000 --> 00:38:49,040 Speaker 1: What do you make of his campaign schedule over the 699 00:38:49,160 --> 00:38:51,759 Speaker 1: last few days. It seems as though, for the most part, 700 00:38:52,080 --> 00:38:56,040 Speaker 1: he's been appearing in states and cities that are fairly 701 00:38:56,239 --> 00:39:00,640 Speaker 1: safe bets for Democrats in New York, Maryland, Pennsylvania. These 702 00:39:00,680 --> 00:39:04,239 Speaker 1: are areas that are that are considered friendly to Joe Biden. Uh, 703 00:39:04,320 --> 00:39:06,400 Speaker 1: and this is common in mid term cycles. Look, there 704 00:39:06,480 --> 00:39:08,359 Speaker 1: was a time when Barack Obama, who by the way, 705 00:39:08,480 --> 00:39:11,440 Speaker 1: was fanned out around the country going to states like 706 00:39:11,600 --> 00:39:14,800 Speaker 1: Arizona and Georgia. He wasn't invited to a lot of 707 00:39:14,880 --> 00:39:18,960 Speaker 1: districts during his midterm election cycle. Donald Trump wasn't really 708 00:39:19,040 --> 00:39:21,200 Speaker 1: wanted in a lot of areas in his midterm This 709 00:39:21,360 --> 00:39:24,520 Speaker 1: is kind of the classic deal here. And for Joe Biden, 710 00:39:24,640 --> 00:39:28,080 Speaker 1: with with the relatively low approval ratings strength through his 711 00:39:28,160 --> 00:39:30,920 Speaker 1: first two years here, Uh, they really didn't want to 712 00:39:31,000 --> 00:39:32,800 Speaker 1: overdo it. You know. He made a couple of speeches 713 00:39:32,840 --> 00:39:35,680 Speaker 1: on saving democracy, he did a lot of fundraising, but 714 00:39:35,760 --> 00:39:38,239 Speaker 1: in terms of standing on stage with a candidate, Yeah, 715 00:39:38,280 --> 00:39:41,000 Speaker 1: you're right, Nathan. There's a reason why states like Maryland 716 00:39:41,040 --> 00:39:43,440 Speaker 1: and New York out of visit and others. DEDA. We've 717 00:39:43,480 --> 00:39:45,800 Speaker 1: been talking so much about how the voter focus is 718 00:39:45,880 --> 00:39:48,879 Speaker 1: on inflation in the economy and especially in the last 719 00:39:49,239 --> 00:39:51,439 Speaker 1: few weeks here, but how much shall we be looking 720 00:39:51,560 --> 00:39:54,200 Speaker 1: at this mid term as a potential proxy race between 721 00:39:54,280 --> 00:39:57,719 Speaker 1: President Biden and former President Donald Trump? Given that he's 722 00:39:57,760 --> 00:40:02,080 Speaker 1: been hinting very strongly that he's running in twenty four. Yeah, 723 00:40:02,120 --> 00:40:05,040 Speaker 1: I don't. Look, you can't deny it. We've we've got 724 00:40:05,160 --> 00:40:08,840 Speaker 1: nearly three hundred candidates endorsed by Donald Trump who have professed, 725 00:40:09,160 --> 00:40:11,440 Speaker 1: at least at one point of their career here in 726 00:40:11,480 --> 00:40:15,120 Speaker 1: this campaign cycle, to not actually accept the results of 727 00:40:15,200 --> 00:40:18,760 Speaker 1: the election. Uh so, yeah, here we are on election 728 00:40:18,880 --> 00:40:21,280 Speaker 1: even Donald Trump, who's who was in Ohio to stump 729 00:40:21,360 --> 00:40:23,719 Speaker 1: for J. D. Vance, a candidate who would not likely 730 00:40:23,840 --> 00:40:25,600 Speaker 1: even be in the running right now if it weren't 731 00:40:25,640 --> 00:40:28,520 Speaker 1: for Donald Trump. Instead of forwarding his own candidates, he 732 00:40:28,680 --> 00:40:31,480 Speaker 1: sort of steals the headlines once again by promoting an 733 00:40:31,480 --> 00:40:35,120 Speaker 1: announcement on November. It is widely believed that he will 734 00:40:35,239 --> 00:40:39,600 Speaker 1: jump into the race despite the financial consequences, and at 735 00:40:39,640 --> 00:40:41,359 Speaker 1: that point it's going to be all about twenty four. 736 00:40:41,480 --> 00:40:44,239 Speaker 1: Some think it already is about twenty four. Because keep 737 00:40:44,280 --> 00:40:47,000 Speaker 1: in mind, Nathan, that if a lot of these election deniers, 738 00:40:47,040 --> 00:40:49,960 Speaker 1: particularly in states like Arizona where you have secretaries of 739 00:40:50,040 --> 00:40:53,560 Speaker 1: state and others who would be indirectly involved in vote 740 00:40:53,600 --> 00:40:58,480 Speaker 1: counting and vote certifying, actually set the foundation for what 741 00:40:58,600 --> 00:41:02,279 Speaker 1: Donald Trump hopes will be his turn in twenty four. Finally, Joe, 742 00:41:02,360 --> 00:41:04,839 Speaker 1: we've heard from how Speaker Nancy Pelosi. She gave an 743 00:41:04,840 --> 00:41:07,319 Speaker 1: interview on CNN last night where she was asked whether 744 00:41:07,400 --> 00:41:10,640 Speaker 1: the attack on her husband will affect whether she decides 745 00:41:10,680 --> 00:41:13,640 Speaker 1: to retire after this term. Are you looking out for 746 00:41:13,719 --> 00:41:18,719 Speaker 1: the possibility of political violence at this midterm or even 747 00:41:18,760 --> 00:41:22,440 Speaker 1: the threat of that potentially affecting how these races turn out. 748 00:41:22,840 --> 00:41:24,560 Speaker 1: I don't know if it's about violence. Look, you know, 749 00:41:24,640 --> 00:41:28,440 Speaker 1: we've seen stories about about armed and uh and and 750 00:41:28,880 --> 00:41:33,239 Speaker 1: and masked people hanging around drop boxes, for instance, the 751 00:41:33,320 --> 00:41:37,120 Speaker 1: idea of intimidation. We have seen instances like Paul Pelosi 752 00:41:37,200 --> 00:41:39,640 Speaker 1: where there was violence. I think there's a concern that 753 00:41:39,760 --> 00:41:41,520 Speaker 1: if we don't know for a couple of days who 754 00:41:41,600 --> 00:41:44,800 Speaker 1: won that that, look, that could turn into something. But 755 00:41:44,800 --> 00:41:47,200 Speaker 1: I don't think anybody's talking about in January six year 756 00:41:47,200 --> 00:41:50,320 Speaker 1: in terms of Nancy Pelosi. On the other hand, you know, 757 00:41:50,400 --> 00:41:53,000 Speaker 1: it's really interesting that's the first complete remarks really we've 758 00:41:53,080 --> 00:41:56,360 Speaker 1: heard from her since Paul Pelosi was attacked. She was 759 00:41:56,840 --> 00:42:00,239 Speaker 1: seemed very upset in the interview with CNN, and it 760 00:42:00,520 --> 00:42:02,920 Speaker 1: looked this could go one way or the other. Uh, 761 00:42:03,280 --> 00:42:05,319 Speaker 1: this is not somebody who is new to the game here, 762 00:42:05,360 --> 00:42:07,920 Speaker 1: and in fact, it's been suggested she might retire anyway. 763 00:42:07,960 --> 00:42:09,960 Speaker 1: But does this actually motivate her to stay in the 764 00:42:10,160 --> 00:42:11,920 Speaker 1: in the fray or does it make her want to 765 00:42:11,960 --> 00:42:15,920 Speaker 1: go home? If she stays in the United States House, however, 766 00:42:16,400 --> 00:42:19,319 Speaker 1: there will likely be a concerted effort to to try 767 00:42:19,400 --> 00:42:22,600 Speaker 1: to get the gavel from from a younger Democrat. Thanks 768 00:42:22,640 --> 00:42:25,160 Speaker 1: for this, Joe, great having on with us on election day. 769 00:42:25,239 --> 00:42:28,200 Speaker 1: Joe Matthew are Washington correspondent hosts of sound On. You 770 00:42:28,239 --> 00:42:31,160 Speaker 1: can catch it every weekday afternoon five pm Wall Street 771 00:42:31,200 --> 00:42:35,520 Speaker 1: Time across Bloomberg Radio, and stay with Bloomberg Radio and 772 00:42:35,680 --> 00:42:41,120 Speaker 1: Television for complete midterm election coverage. Tom Keene, Jonathan Farroll, 773 00:42:41,200 --> 00:42:45,279 Speaker 1: and Lisa Bramowitz are in Washington for Bloomberg Surveillance. That's next. 774 00:42:45,719 --> 00:42:48,520 Speaker 1: I'm Nathan Hagar for Karen Moscott. This is Bloomberg