Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg
Speaker 1: day Break for a Tuesday, November eight. Coming up this hour,
Speaker 1: Americans go to the polls with control of the House
Speaker 1: and Senate at stake. Racist in Georgia and Pennsylvania could
Speaker 1: be key. We're also watching a close contest for New
Speaker 1: York governor and Donald Trump. All that confirms another run
Speaker 1: for the White House, with an announcement set for next week.
Speaker 1: I'll speaker Nancy Pelosi speaks for the first time about
Speaker 1: the attack on her husband. Plus a technical issue has
Speaker 1: to lay the powerball drawing. I'm Michael Blar More Ahead,
Speaker 1: I'm John stash Our Sports the Ravens beat the Saints,
Speaker 1: the Nets loss, wins for the Knicks, Islanders, and st John.
Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg
Speaker 1: Living three on New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine six, Francisco,
Speaker 1: Sirius x M one nineteen and around the world on
Speaker 1: Bloomberg Radio. Come and via the Bloomberg Business at Good Morning.
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow US Dot Index
Speaker 1: futures have been shrimming their gains this morning. They're now
Speaker 1: a little change that We're coming up to six o
Speaker 1: one on Wall Street, and we check the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and
Speaker 1: P Futures little change so er Down futures and Nasdack
Speaker 1: futures are up about twenty three. The decks in Germany
Speaker 1: is up to tens of upper cent ten year treasury
Speaker 1: up to thirty seconds yield four point to zero percent,
Speaker 1: and the yield on the two year four point seven
Speaker 1: one percent, and nine max scrude oil is down one
Speaker 1: point three percent. Nathan Karen, We'll have more on the
Speaker 1: markets in a minute, but first it is election day.
Speaker 1: Polls are beginning to open across the country. With control
Speaker 1: of the Senate hanging in the balance, there are tight
Speaker 1: races shaping up in at least three states. Amy Morris
Speaker 1: has the latest from our Bloomberg newsroom in Washington. In Pennsylvania,
Speaker 1: the Senate race between Democrat John Fetterman and Republican Memo
Speaker 1: Oz is neck and that I will bring change to
Speaker 1: Washington so they treat us the way we deserve and
Speaker 1: I'm gonna need every one of you to go out,
Speaker 1: get your friends, get your families all ready to vote.
Speaker 1: And Georgia, a record two and a half billion votes
Speaker 1: are already cast. Republican challenger Herschel Walker in a dead
Speaker 1: heat with incumbent Democratic Senator Raphael Warnut. I'll show up
Speaker 1: for you for six more years. You got a voteus
Speaker 1: something new in this stought November. If no candidate gets
Speaker 1: more than fifty of the vote, it could head to
Speaker 1: her run off in December. Be ready for days of
Speaker 1: counting ballots. In Arizona, where a race four senator between
Speaker 1: incumbent Democrat Mark Kelly and Republican Blake Masters, and the
Speaker 1: goober notatorial contest between Republican Kerry Lake and Democrat Katie
Speaker 1: Hobbs are so tight posters expect those results to come
Speaker 1: down to just a few thousand votes. In Washington, I'm
Speaker 1: Amy Morris, Bloomberg Daybreak. All right, Amy, thank you well.
Speaker 1: There are several key races for governor across the country,
Speaker 1: including a closely watched one in New York, and bloomberg
Speaker 1: S Michael bar joins US Live with the latest on that. Michael,
Speaker 1: thank you very much. Karen. The race for governor was
Speaker 1: once insidered an easy win for incumbent Democratic Governor Kathy Hokel. However,
Speaker 1: Republican Lees held and made up ground in the polls
Speaker 1: to make it a tight race. Both candidates made their
Speaker 1: final push to voters. Governor Hocle campaigned in Manhattan. I
Speaker 1: always run like I'm the underdogs work harder. Pcl also
Speaker 1: campaigned last nine in her hometown of Buffalo. Both candidates
Speaker 1: need votes not just from Independence or Republicans, but Democrats
Speaker 1: as well, something Zelden notes it wasn't until New Yorkers
Speaker 1: united in the early nineties that they decided that they
Speaker 1: were going to take back our streets. Zelden campaigned at
Speaker 1: the scene of a subway stabbing in New York City
Speaker 1: and is pushed to fight crime in New York. Michael Barr,
Speaker 1: Bloomberg Radio, Nathan Karen Okay, Michael, thanks, voters are also
Speaker 1: wearhing at least sixty six billion dollars of state on
Speaker 1: local bond measures today to finance projects like new schools
Speaker 1: and climate resiliency efforts. We get that story from Bloomberg's
Speaker 1: Charlie Pellett. The proposed borrowing is more than double the
Speaker 1: twenty seven billion dollars on ballots of this time last year,
Speaker 1: and among the highest volume of bonds up for a
Speaker 1: vote since at least two thousand nine. This according to
Speaker 1: a Bloomberg analysis of a preliminary tally of bond measures
Speaker 1: compiled by I H S Market. The increase comes of
Speaker 1: states and cities have been collecting better than expected revenue
Speaker 1: in the last fiscal year, shoring up the budgets after
Speaker 1: a period of financial uncertainty at the onset of the
Speaker 1: coronavirus pandemic in New York. Charlie Pellett Bloomberg day Break, Charlie,
Speaker 1: thank you. While Americans hand to the polls, Donald Trump
Speaker 1: is ramping up hands that he'll run for the White
Speaker 1: House in the former president all but confirmed the move
Speaker 1: at a rally last night in Dayton, Ohio. I'm going
Speaker 1: to be making a very big announcement on Tuesday, November
Speaker 1: fifty at bar Lago in pop Beach, Florida. Former President
Speaker 1: Trump has been teasing your run for months. Advisors have
Speaker 1: long urged him to hold off on an announcement until
Speaker 1: after the mid terms. Let's get some news outside of
Speaker 1: today's elections, Karen. Beginning in Europe, as the war between
Speaker 1: Russia and Ukraine rages on. Sanctions continue to pile up
Speaker 1: on Moscow. But now Bloomberg News has learned the White
Speaker 1: House once banks like JP Morgan and City Group to
Speaker 1: keep doing business with some strategic Russian firms. We're told
Speaker 1: it's part of a behind the scenes effort to limit
Speaker 1: the adverse impact of Russian sanctions on the global economy.
Speaker 1: Even as some in Congress pound the table for stronger
Speaker 1: steps on Wall Street, songs have rallied for two straight
Speaker 1: days Nathan Ahead of the midterms, Morgan Stanley's Mike Wilson
Speaker 1: says polls that show Republicans claiming at least one member
Speaker 1: of Congress could provide a catalyst for equities. We're getting
Speaker 1: close to the end of the bear market. We're not
Speaker 1: there yet, but you know what you want to what
Speaker 1: you want to try and figure out is what outperforms
Speaker 1: in the last leg down, because I will tell you
Speaker 1: what's going to outperform in the next leg up eventually
Speaker 1: when we get there, and that's been industrial financials and
Speaker 1: some of the commodity complex. Morgan Stanley's Mike Wilson says
Speaker 1: companies will need to bring down expenses before he becomes
Speaker 1: more optimistic on equities. Another key event for markets comes Thursday, Karen,
Speaker 1: when we get a reading on consumer prices. Richmond FED
Speaker 1: President Thomas Barkin says the Central Bank will persist in
Speaker 1: efforts to bring inflation under control. Inflation should come down,
Speaker 1: but don't expect it's drop to be immediate or predictable.
Speaker 1: We've been through multiple shocks, as I discussed, and significant
Speaker 1: shocks simply take time to dampen. Richmond FED President Thomas
Speaker 1: Barkin says one key lesson from inflation in the seventies
Speaker 1: is not to declare victory premature ly. Well, we now
Speaker 1: turn our attention to the big climate change summit in Egypt, Nathan.
Speaker 1: The World Bank has announced a climate Trust fund for
Speaker 1: poorer countries, and we come up with President of the
Speaker 1: World Bank David Malpass, the warrant u PRAM, but also
Speaker 1: the giant amounts of government spending that we're done on
Speaker 1: covid UH and so that that is putting upward pressure
Speaker 1: on prices around the world, and that hits the poorest
Speaker 1: the hardest. And World Bank President David Malpass spoke with
Speaker 1: Bloomberg at the COP twenty seven summit in Egypt cat
Speaker 1: More of that catch more of that conversation coming up
Speaker 1: later in our agram. We're also watching earnings this morning,
Speaker 1: hearing from DuPont had reported a third quarter profit bad
Speaker 1: beat analysts estimates and again futures this morning they are
Speaker 1: high er s and p future is now up about
Speaker 1: four points. And as straight ahead, we have your latest
Speaker 1: local headlines, plus a check of sports. And this is Bloomberg.
Speaker 1: Thanks caring at six oh seven on Wall Street, now
Speaker 1: forty seven degrees in Central Park out of crash northbound
Speaker 1: Cross Island Parkway at Belle Boulevard. Details coming up in traffic. First,
Speaker 1: Michael Barr's back with what else is happening in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan.
Speaker 1: There are other races being watched in the Tri state
Speaker 1: area as well. In Connecticut, Democratic Governor Not Lamont is
Speaker 1: up against Republican challenger Robert Stefanowski, and Lamont spoke earlier
Speaker 1: with Bloomberg about his state. I think the economy front
Speaker 1: and center. Uh. Here in Connecticut, we've been flat as
Speaker 1: a pancake for thirty years. We hadn't added a new
Speaker 1: job in thirty years. Uh, And we were going from
Speaker 1: physical crisis to fiscal crisis. It was a pretty lousy story,
Speaker 1: and the last you know, four or five years were
Speaker 1: beginning to turn things around. In the U S. Senate,
Speaker 1: Democrat Richard Bloomenthal is up against Republican Theora Leaving how
Speaker 1: Speaker Nancy Pelosi said the attack on her husband Paul
Speaker 1: would be a factor in deciding her political future and
Speaker 1: expressed dismay that Donald Trump and others, including Elon Musk,
Speaker 1: had cast doubt on the attack. Pelosi told CNN last night,
Speaker 1: you see what the reaction is on the other side
Speaker 1: to this, to make a joke of it, and really
Speaker 1: that is traumatizing to US. Supreme Court justices have signaled
Speaker 1: they may open new avenues that could weaken the clout
Speaker 1: of the Securities and Exchange Commission and Federal Trade Commission.
Speaker 1: Bloomberg said Baxter as the story. The justices are considering
Speaker 1: cases regarding claims going directly to federal court. The two
Speaker 1: regulatory agencies have been very busy. The SEC file more
Speaker 1: than seven hundred and four reisment actions in the flash
Speaker 1: fiscal year and one judgments and orders worth six point
Speaker 1: four billion dollars. The FTC is seeking to break up
Speaker 1: meta platforms and investigating Amazon, among other initiatives, returned two
Speaker 1: point four billion of consumers last year. It is a
Speaker 1: conservative court and it could decide the question of the
Speaker 1: value of regulation visa v. More free commerce. In San Francisco,
Speaker 1: I'm at Baxter Bloomberg Gay Break. The Powerball lottery jackpot
Speaker 1: is one point nine billion dollars. That's a lot of
Speaker 1: zeros on there. You can't win if you don't play well,
Speaker 1: you definitely can't win. Then on draw the numbers either.
Speaker 1: The Multi State Lottery Association says that the powerball drawing
Speaker 1: was delayed last night and we won't know the official
Speaker 1: results until later. The record breaking drawing was delayed because
Speaker 1: of participating lottery had issues processing sales. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg
Speaker 1: Bottle Volatility. Thank you, Michael. Almost six ten on Wall
Speaker 1: Street Time for the Bloomberg Sports that they brought to
Speaker 1: you by Tri State out He with John Stag shows
Speaker 1: All righty Bean, Busy night at basketball, Open to night
Speaker 1: in the College GAI. The entire preseason top twenty five
Speaker 1: played and they all won, including Duke new coach John
Speaker 1: shire Villa and open for new coach Kyle Neptune. They
Speaker 1: replaced for the Hall of Fame coaches Mike Schefski and
Speaker 1: Jay Right. St John's won it's opener by twenty five
Speaker 1: over Mary Mac also fifteen NBA games with a message,
Speaker 1: and all of them to remind fans to vote. That's
Speaker 1: why the NBA will not play any games tonight. Nixon
Speaker 1: Minnesota scored seventy six points in the first half went
Speaker 1: on to win one one oh seven thirty one point
Speaker 1: for Julius Randolly made eight three pointers. The Nets lost
Speaker 1: in Dallas nineties four Luke Donson's thirty six points of
Speaker 1: the mass kebin A Rand twenty six for Broken Milwaukee
Speaker 1: lost for the first time Cleveland for just a second time.
Speaker 1: The Lakers lost by twenty three at Utah. The Lakers
Speaker 1: are two and a. The Jazz traded their two best
Speaker 1: players in the off season, yet they are a surprising
Speaker 1: nine and three. Islanders made it five the last six.
Speaker 1: They meet Calgary for three and overtime Monday Night football.
Speaker 1: Ravens and Saints Daxus and chief of eights, telling right,
Speaker 1: look at the town now he loved to touch to
Speaker 1: kennet Ella marlton I j unlikely just behind the secondary.
Speaker 1: The Ravens tried first in New Orleans. The a L
Speaker 1: had the call. Baltimore went on to win twenty seven
Speaker 1: to thirteen at six and three, first place in the
Speaker 1: a f C North. The Colts have only three wins.
Speaker 1: They just fired coach Frank Wright replaced him on an
Speaker 1: interm basis with former Indianapolis lineman Jeff Saturday, who has
Speaker 1: no previous NFL coaching experience. Giant safety's Avian McKenney spent
Speaker 1: his bye week in Cabo and heard his hand in
Speaker 1: an a TV accident. He's one of the better defensive players.
Speaker 1: He's gonna miss at least a month. John Scash at
Speaker 1: Bloomberg Sports, Nathan all Right, John thank U s ANDP
Speaker 1: futures up five points South, futures of forty eight, NASTAC
Speaker 1: futures up forty points up. Next, we hear from World
Speaker 1: Bank President David Ball pass from the COP twenty seven
Speaker 1: summit in Charmel Shake, Egypt. This is Bloomberg Bloomberg Sports
Speaker 1: was brought to you by Autie. You don't let someone
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Speaker 1: twenty four hours a day at Bloomberg dot com. The
Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape is a
Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. You US dock
Speaker 1: index futures on the rise this morning as investors await
Speaker 1: the outcome of the midterm elections. Treasuries UH they raised
Speaker 1: losses ahead of Thursday's inflation report, and we checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg
Speaker 1: U S and P futures at five points down features
Speaker 1: of forty seven, nastag features up forty The decks in
Speaker 1: Germany's epic quarter percent ten your treasury a three thirty
Speaker 1: seconds he had four point to zero percent. They yield
Speaker 1: them a two year four point seven one percent. Nine
Speaker 1: X freude oil is down one point four percent on
Speaker 1: a dollar thirty three and ninety dollars forty six cents
Speaker 1: of errol Comex school down four ten percent or six
Speaker 1: dollars forty cents at sixteen seventy four ten announced. The
Speaker 1: euro is at one point zero zero zero one against
Speaker 1: the dollar. British found one point six one and again
Speaker 1: one six point three to biggoin this morning is down
Speaker 1: four point six percent at nineteen thousand, seven hundred dollars.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with
Speaker 1: Moore ONUN What's going on around the world. Michael, thank
Speaker 1: you very much. Karen. It is election day. The nation
Speaker 1: has its high on several key races that could change
Speaker 1: the balance. In Washington, thirty five Senate seats are on
Speaker 1: the ballot. Former President Trump, speaking in Dayton, Ohile, says
Speaker 1: he will make a big announcement on November fifteen, That
Speaker 1: is Mara Lago Estate. Trump had been teasing for months
Speaker 1: he'd run again. Meanwhile, President Biden traveled campaign in Maryland.
Speaker 1: Biden acknowledged Democrats face a tougher challenge holding the House
Speaker 1: than the Senate. In the NBA the next one, the
Speaker 1: Nets lost the Celtics, Wizards and Warriors all one. In
Speaker 1: the NHL, the Islanders won in ot against Flames for
Speaker 1: three the Bruins and Capitals. Also one Monday Night Football.
Speaker 1: The Ravens beat the global news twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven journalists and antalist more than a hundred
Speaker 1: twenty countries. Michael Barn this is Bloomberg, Nathan. Thank you Michael.
Speaker 1: It is six nineteen on Wall Street Live from the
Speaker 1: Bloomberg Interacted Broker Studios. This is a Bloomberg day Break
Speaker 1: on this election day. We're also keeping an eye on
Speaker 1: United Nations climate talks in Egypt. The World Bank is
Speaker 1: warning about food shortages and inflation hitting the poorest, as
Speaker 1: COVID spending and the energy crisis create real problems for
Speaker 1: the developing world. At COP twenty seven in Charmel Shank
Speaker 1: the World Bank announced a Climate Trust fund for poorer countries. Earlier,
Speaker 1: Bloombergs ferencing lackwalk hot up with World Bank President Dave
Speaker 1: mall Pass and he says more investment will be needed
Speaker 1: to tackle climate change. Of course, more resources are really important,
Speaker 1: both for the climate crisis but also for the financial
Speaker 1: crisis affecting the developing countries. I really think we are
Speaker 1: facing a crisis in development, and that means the reversals
Speaker 1: on education, that means the higher interest rates, the inflation,
Speaker 1: the shortages of fertilizer, which are really daunting for the
Speaker 1: developing world. So those are all problems that take resources.
Speaker 1: So it's uh, it's it's a giant part of the
Speaker 1: way the world needs to think about the relationship with
Speaker 1: developing countries, and that's occurring here at this conference as well.
Speaker 1: So it is the climate change, you know, Lens the
Speaker 1: best way to look at it. You're right, we also
Speaker 1: have inflation, we have a cost of living crisis, we
Speaker 1: have people being left out of the financial system. How
Speaker 1: should climate change be a priorities a top three or
Speaker 1: top five from the standpoint of the developing countries, they're
Speaker 1: failing all of them together. So it's a matter of
Speaker 1: how do you finance the adaptation needs? How do you
Speaker 1: finance education and child nutrition? Uh? And so I I
Speaker 1: think of it as a giant resource need that can
Speaker 1: be filled by grants from the advanced economies. By by So,
Speaker 1: the World Bank has one of the largest trust funds
Speaker 1: IDA IDEA that goes to the seventy forest countries. So
Speaker 1: one way is huge amounts of grant money put in
Speaker 1: and we we then dispersed that in various U programs,
Speaker 1: both country programs, but very importantly regional programs and knowledge
Speaker 1: programs that help the country's adapt to climate change. For example,
Speaker 1: I'm just back from South Africa. Over the weekend, we
Speaker 1: decommissioned a coal fired power plant, working with the South
Speaker 1: African government. This is a microcosm of what's needed in
Speaker 1: the world. How do you finance large scale mitigation efforts
Speaker 1: in poorer country or in developing countries. And when you
Speaker 1: look at, of course what we've seen over the last
Speaker 1: twelve months, it's a war in Ukraine that's driving inflation,
Speaker 1: but it's also energy security. How has that changed funding
Speaker 1: mentally the talk on climate change and sustainability, It's added
Speaker 1: to the burden and made even more urgency. So it's
Speaker 1: the war in Ukraine, but also the giant amounts of
Speaker 1: government spending that we're done on covid UH and so
Speaker 1: that that is putting upward pressure on prices around the world,
Speaker 1: and that hits the poorest the hardest. They feel inflation
Speaker 1: the most day. Also very painfully are feeling the extreme
Speaker 1: poverty now and the food shortages. Uh, That's why I
Speaker 1: mentioned fertilizers such an important source because it comes from
Speaker 1: natural gas, and as the natural gas it goes to
Speaker 1: Europe to make up for the Russia. The Russia reductions,
Speaker 1: then that puts a drain on fertilizer and food in
Speaker 1: the developing world, so they they combine and climate change
Speaker 1: then is one important aspect of what has to be
Speaker 1: dealt with. I know you've put out a statement after
Speaker 1: the controversy, but there has been a lot of questions
Speaker 1: about whether your climate change believer are you can you
Speaker 1: can loose at the record strant once and for all. Yes,
Speaker 1: of course, it's clear that human activity is contributing to
Speaker 1: the global warming, and so we need to have action
Speaker 1: and impact. That's what the World Bank is doing, massive
Speaker 1: amounts of action every day. A big chunk of my
Speaker 1: job is taking action on mitigation reducing greenhouse gas emissions.
Speaker 1: You know, there are a lot of conferences, but when
Speaker 1: you really get to it, what we did in South
Speaker 1: Africa is important. That's decommissioning and then repurposing the land
Speaker 1: so that electricity can be made from solar panels in
Speaker 1: this particular project, and also taking account of the people
Speaker 1: that are impacted by the climate change going on. So
Speaker 1: I'll be uh announcing and presenting today a big trust
Speaker 1: fund by the World Bank called Scale that will bring
Speaker 1: global resources in to to fund the climate actions by
Speaker 1: poorer countries. That's a critical part. I just went to
Speaker 1: a breakfast with with several heads of state on called
Speaker 1: Global Shield, which is an insurance mechanism to help them
Speaker 1: prepare for climate related disasters. And that was World Bank
Speaker 1: President David Malpass speaking with Bloomberg's Fiancing Lakwaf from the
Speaker 1: COP twenty seven summit in Charmel Shake, Egypt. You can
Speaker 1: catch the full conversation on Bloomberg dot com or on
Speaker 1: the Bloomberg terminal, and stay with Bloomberg Radio for continued
Speaker 1: coverage of the UN climate talks in Charmel Shake. SMP
Speaker 1: futures on this election day are higher by five points,
Speaker 1: staff features of fifty nine and nastac features are higher
Speaker 1: by forty four points ten. Your treasuries up three thirty seconds,
Speaker 1: yield close to four point two zero percent yield on
Speaker 1: the two year four point seven zero per cent. Stay
Speaker 1: with us your list thing to Bloomberg day Break. Bloomberg
Speaker 1: day Break is brought to you by the Jewish Communal
Speaker 1: Fund j c F. Stoner Advised Fund is the smart
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Speaker 1: visit j c F n Y dot org. Broadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg
Speaker 1: E Living free to Washington, d C, Bloomberg ninety one
Speaker 1: to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg non sixty to the country Sirius XM tod A
Speaker 1: one nine team, and around the globe the Bloomberg Business
Speaker 1: app and Bloomberg Radio dot com. This is Bloomberg Daybreak
Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hager
Speaker 1: and I'm Karen Moscow. We're just about three hours away
Speaker 1: from the Open of US Training time to the five
Speaker 1: things that you need to notice ourt your day to
Speaker 1: you by Interactive Brokers. Interactive Brokers charges Martin Loan race
Speaker 1: from three point five eight percent to four point five
Speaker 1: eight percent rate subject to change. Learn more at ibkr
Speaker 1: dot com. Slash compare First, It's Election Day, Americans go
Speaker 1: to the polls to decide control of Congress. Jessica Taylor,
Speaker 1: editor with the Cook Political Report, tells us momentum is
Speaker 1: on the Republican side. The House looks further gone into
Speaker 1: the Senate. The Senate is still going to be very,
Speaker 1: very close. But the closer it gets to election day,
Speaker 1: the more worried Democrats that I've talked to have gotten
Speaker 1: and the more bullish Republicans try to just have gotten.
Speaker 1: Jessica Taylor of The Cook Political Report spoke at our
Speaker 1: Washington correspondent Joe Matthew on Bloomberg Sound On Catch the
Speaker 1: program weekdays at five pm Eastern on Bloomberg Radio. Some
Speaker 1: of those close Senate contests Karen include Pennsylvania, Ohio, Georgia,
Speaker 1: and Arizona. Arizona's race for governor is also expected to
Speaker 1: be close. In New York, Republican Lee z Eldon could
Speaker 1: deliver a shocker at a governor's race that was thought
Speaker 1: to be a shoe in for Democrats. We need the
Speaker 1: more law enforcement les Eldon has made crime one of
Speaker 1: his main talking points. In New York. Governor Cathy Hocle
Speaker 1: campaigned in her hometown of Buffalo last night. Meantime, Nathan
Speaker 1: former President Trump is not so subtly hinting at another
Speaker 1: White House bid. I'm going to be making a very
Speaker 1: big announcement on Tuesday, November. The former president was speaking
Speaker 1: at a rally in Ohio last night and teasing an
Speaker 1: announcement next week. Turning the markets now, Karen stocks have
Speaker 1: rallied in recent days ahead of the mid terms, but
Speaker 1: Bloomberg macro strategist Cameron Christ does not think control of
Speaker 1: Congress will change much for investors. People tend to overestimate
Speaker 1: the significance of individual political actors in driving economic and
Speaker 1: certainly financial market returns. Bloomberg's Cameron Christ says this week's
Speaker 1: consumer price index and uncertainty in China will have more
Speaker 1: of a market impact. And at the COP twenty seven
Speaker 1: Climate summit in Egypt, the World Bank announced a climate
Speaker 1: trust fund for poorer countries. Bloomberg's franc Laqui spoke with
Speaker 1: World Bank President Even Malpass. More resources are really important
Speaker 1: both for the climate crisis but also for the financial
Speaker 1: crisis affecting the developing countries. And here more of Bloomberg's
Speaker 1: conversation with World Bank President David Malpass on bloomberg dot
Speaker 1: com and on the Bloomberg Terminal. That's the five things
Speaker 1: you need to know to start your day, brought to
Speaker 1: you by Interactive Brokers and Futures this morning are higher
Speaker 1: SNP Futures up eight points down, Future is up sixty
Speaker 1: nine Nasdack Future is up fifty four. Straight ahead, your
Speaker 1: latest local headlines, plus the check of sports, and this
Speaker 1: is Bloomberg. Thanks hearing six three on Wall Street, forty
Speaker 1: seven degrees in Central Park delays building on the bridges
Speaker 1: and tunnels will fill you in the traffic shortly. First,
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: There are other races being watched in the Tri state
Speaker 1: area as well. In Connecticut, Democratic Governor Need Lamont is
Speaker 1: up against Republican challenger Robert Stefanowski. Lamont talked about the
Speaker 1: infrastructure bill when he spoke to Bloomberg earlier. We got
Speaker 1: a hundred year old bridges and old Rhodes old rails,
Speaker 1: so this is a big deal for us. Every president
Speaker 1: seems to be talking about infrastructure abides the first guy
Speaker 1: since iked, as far as I could figure out, to
Speaker 1: really be serious about it. In the U S Senate
Speaker 1: Democrat Richard Bloominhal is up against the Republican Leo or Levy.
Speaker 1: Speaker Nancy Pelosi is now talking about how the brutal
Speaker 1: assault on her husband may affect her future in Congress. Pelosi,
Speaker 1: in her first interview since the brutal hammer attack on
Speaker 1: her husband Paul, acknowledged to Cienn's Anderson Cooper the attack
Speaker 1: will impact her decision on her future in Congress, without
Speaker 1: saying what the decision will be if she's no longer
Speaker 1: Speaker of the House. I have to say my decision
Speaker 1: will be effective about what happened the last week or two?
Speaker 1: Will it be? Will your decision be impacted by the attack?
Speaker 1: In anyone authorities? Saint Paul Pelosi is alleged attacker David
Speaker 1: pop wanted to take Speaker Pelosi hostage. US Ambassador to
Speaker 1: the U n Linda Thomas Greenfield, is traveling in Ukraine
Speaker 1: today to reiterate American support for the independence and sovereignty
Speaker 1: of the war torn country. Her first visit was to
Speaker 1: a grain elevator and processing facility in the Kiev region,
Speaker 1: where she met with farmers. The brain deal gave you
Speaker 1: confidence to go ahead and comblished the current crop. But
Speaker 1: also are you plant getting ready to plan again? In
Speaker 1: the screen? Uh, we'll see your depends. Meanwhile, Russia's heavy
Speaker 1: casualties in Ukraine have sparked an unusual public outcry and
Speaker 1: sharp criticism of military commanders from surviving soldiers. After a
Speaker 1: more than four d increase in Kia and Hyundai thefts
Speaker 1: in Columbus, Ohio this year, city attorney Zach Klein says
Speaker 1: he plans to file a lawsuit against the carmakers. He
Speaker 1: says the suit is, in his words, knowingly selling vehicles
Speaker 1: vulnerable to theft. It's like when your great great great
Speaker 1: grandpa tries to operate the lottery machine. Because of a
Speaker 1: technical problem, tonight, we are unable to bring you the
Speaker 1: Powerball drawing at this time. As soon as we're able
Speaker 1: to resolve the issue and conducted drawing, it will be
Speaker 1: available for viewing on Powerball dot com and on our
Speaker 1: YouTube channel Powerball. Nine people waiting in line for hours
Speaker 1: for the record breaking one point nine billion dollar Powerball
Speaker 1: lottery jackpot now after Grandpa touched the red button. Powerball
Speaker 1: says it's delayed because a participating lottery needed more time
Speaker 1: to process sales. Global News whatenty four hours a day
Speaker 1: on air and on Bloomberg quicktake power by more mad journalists,
Speaker 1: analysts more than a y countries on Michael bar this
Speaker 1: is Bloomberg. The grandparents out of this, Michael, thank you
Speaker 1: sixty six on Wall Soter, Let's get the Bloomberg sports
Speaker 1: out day, prouty by try stayed out. Here's John stash hour. Alright,
Speaker 1: Nat with Kybrie Irving story. That's suspense, a little less
Speaker 1: drama for the Nets. They had a couple of road
Speaker 1: wins nearly another, but the Nets fell short in Dallas
Speaker 1: nineties six ninet before Luca Donson's thirty six points of
Speaker 1: the mass. He joined Wilp Chamberlain as the only players
Speaker 1: to beginning season with nine straight games with thirty or
Speaker 1: more points. The Nets are playing better defend with Kevin Durant.
Speaker 1: Think we followed some things on this trip that are
Speaker 1: were for all of us to keep all of us
Speaker 1: in the game offensively and defensively. Uh you know, I
Speaker 1: think we uh we follow some stuff, you know, switching
Speaker 1: and uh, you know, helping on in the post, and
Speaker 1: it was just a little different things that we're trying
Speaker 1: to figure out on the defensive side the ball, and
Speaker 1: the Nets will host the NIXT tomorrow. Knicks back to
Speaker 1: five hundred. They one in Minnesota one to one oh seven.
Speaker 1: Nick coach Tom Thibodeaux has always resisted the idea of
Speaker 1: playing Julius Randall at the same time as fan favorite
Speaker 1: Obi Topp, but he did it last night. They combined
Speaker 1: to make eleven three pointers. Randall scored thirty one points
Speaker 1: good win to the Islanders Ubs Arena. They trailed Calvary
Speaker 1: three one midway to the third period. Anders Lee Kal
Speaker 1: Paul Mary scored a minute apart, and then Noah Dobson
Speaker 1: with the minute left overtime, Islanders one, four to three.
Speaker 1: Hopully Night. In college basketball St. John's beating merrymac By
Speaker 1: twenty five, David Jones played twenty four minutes. He scored
Speaker 1: twenty one points at ten rebounds. NFL Baltimore one in
Speaker 1: New Orleans twenty seven to thirteen. Indianapolis fired coach Frank
Speaker 1: Wright midway through his fifth season, replaced him for now
Speaker 1: with Jeff Saturday, the ex Cult lineman who had been
Speaker 1: working for ESPN. Giant safety 'savier McKinney heard his hand
Speaker 1: in an a TV accident he'll miss a month. The Yankees,
Speaker 1: as expected, picked up the fifteen million dollar option on
Speaker 1: Luis seven Arena. John Dash a word Bloomberg Sports Nathan
Speaker 1: all right, John, thank you. At six thirty eight on
Speaker 1: Wall Street, time to take a look at stock, some
Speaker 1: of the names moving in the pre market. Bloomberg Markets
Speaker 1: Live editor Heather Burke joins us now with that, starting
Speaker 1: off with a du Pont because we just got earnings
Speaker 1: on that, Heather, Yeah, they're alp about in pre market,
Speaker 1: and we generally seemed some pretty good earnings for materials
Speaker 1: and industrial companies. UH this quarter. DuPont um et adjusted
Speaker 1: earns per share for three Q beat the average handles estimate.
Speaker 1: It was two estimate seventy nine. The only thing be
Speaker 1: watching is um It sees a just to DPS has
Speaker 1: three thirty, which is kind for at the lower end
Speaker 1: of its range, and it's seen some consumer electronics demand weakness.
Speaker 1: But so far in the pre market investors are happy
Speaker 1: and right on top of the laggard's this morning in
Speaker 1: the pre market is left. It really is getting crushed
Speaker 1: this morning after earnings. Yeah, it's down like about pre
Speaker 1: market trading. It's on track to hit its lower level
Speaker 1: on record um the rods here and company's results kind
Speaker 1: of seemed to confirm a losing market share to Uber,
Speaker 1: and if this pre market moved holds, it would hit
Speaker 1: the lowest level since the I p o UM. It
Speaker 1: has weaker than expected ridership growth, and this kind of
Speaker 1: comes in contrast to Uber, which reported last week that's
Speaker 1: ride hailing customers are rebounded to pre pandemic levels. You know,
Speaker 1: we got an earning Smiths as well from Trip Advised
Speaker 1: or how's that stock doing? It's also down about in
Speaker 1: free market trading on disappointing three quarter results. Revenue was
Speaker 1: ahead of estimates, but the fourth quarter guidance disappointed, and
Speaker 1: analyst kind of noted that it was increased spending on
Speaker 1: viater as the main reason for the soft outlook, but
Speaker 1: really looks like it's there. It's gonna be a tough
Speaker 1: morning for a lot of these online techie stocks. And
Speaker 1: we're looking ahead to a big name reporting earnings later
Speaker 1: on today with Walt Disney. What's that stock doing ahead
Speaker 1: of the report? Yeah, so they're expected to add nine
Speaker 1: point three million subscribers to the Disney Plus streaming service,
Speaker 1: and that's a month before introduced an ad support of
Speaker 1: version UM. One possibly good sign is that Netflix be
Speaker 1: internal forecast as well as analysts has expectations for the
Speaker 1: recent quarter um. But Bloomberg Intelligence is seeing that Disney
Speaker 1: is going to have a strong finish, So it looks
Speaker 1: like it could be a good day for the stock.
Speaker 1: All right, Bloomberg Markets Live editor Heather Burg can be
Speaker 1: watching all the names once the market opens, Heather, thank you.
Speaker 1: Futures are pointing to a higher open on this election day.
Speaker 1: SMP futures up ten points, Staff futures up eighty eight,
Speaker 1: Nastack futures are higher by sixty points. This is Bloomberg
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Speaker 1: futures are on the rise. This morning. Let's go to
Speaker 1: the first word bring gained news desk for today's morning call,
Speaker 1: and here's Bill Maloney. Bill, good morning, Good morning Karen.
Speaker 1: That's right. US futures are in the green right now,
Speaker 1: A death futures up a hundred and seven points, subs
Speaker 1: gained fourteen n and as that futures rise by seventy one,
Speaker 1: the US ten year old at four point two percent,
Speaker 1: Gold is down three, Oil is in the red, but
Speaker 1: Bigcoin is trading lower by four point nine percent. Japan
Speaker 1: rose one point three percent overnight, while Europan markets are
Speaker 1: trading mixed right now. And back in the US, nothing
Speaker 1: to report on the economic front after the bell last night,
Speaker 1: Lift reported weaker than expected rider growth, take to cut
Speaker 1: its annual bookings forecast, and Tesla closed at a seventeen
Speaker 1: month low regarding earnings. This morning, DuPont loaded sales guidance,
Speaker 1: and another news innvided to sell a new chip in
Speaker 1: China that meets US rules. Wrapping things up, Scott's Miracle
Speaker 1: Grow was raised to overvoight at Barkley's Block was raised
Speaker 1: to outperform over at mcquarie. Live from the First Breaking
Speaker 1: news desk, I'm Bill Maloney, Camp all right, Bill, thank you,
Speaker 1: and to hear live breaking news of her Bloomberg time
Speaker 1: squall on your terminal squ a w K, that's a
Speaker 1: Bloomberg business flash now here smuckle bar with more. I'm
Speaker 1: what's going on around the world, Karen, thank you very much.
Speaker 1: Months of campaigning and narrow over the mid term elections
Speaker 1: are here that will decide control of Congress and top governorships.
Speaker 1: President Joe Biden and knowledge Democrats face a tougher challenge
Speaker 1: holding the House than the U. S. Senate, but he's optimistic. Meanwhile,
Speaker 1: former President Trump says he's going to be making a
Speaker 1: very big announcement on Tuesday, November fifteen at his Maralago resort.
Speaker 1: Trump has strongly hinted that he will announce another run
Speaker 1: for the White House. In the NBA the next one,
Speaker 1: the Nets lost the Celtics, Wizards, and Warriors all one.
Speaker 1: In the NHL, the Islanders won in ot against the
Speaker 1: Flames for three, the Bruins and Capitals. Also one Monday
Speaker 1: Night football, the Ravens beat the Saints. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than journalists and analysts and more than
Speaker 1: to twenty countries. I'm Michael Barr, and this is Bloomberg.
Speaker 1: Karen all right, Michael bar thank you. It is sixty
Speaker 1: nine on Wall Street and we turned to news and
Speaker 1: science and technology now with the Bloomberg and j I
Speaker 1: T STEM Report. It is brought to you buy New
Speaker 1: Jersey Institute of Technology as one of the nation's leading
Speaker 1: polytechnic universities and a top military friendly school. And j
Speaker 1: I T supports Americans, service members and their families. Learn
Speaker 1: more at and j I T dot edu. Slash Veterans.
Speaker 1: Now here's just making news and science, technology, engineering, and math.
Speaker 1: The US, EU and Japan will announce the commitment to
Speaker 1: clean up methane emissions tied to the extraction and transport
Speaker 1: of oil and gas. It's a follow up to a
Speaker 1: pledge they made a year ago at the U n
Speaker 1: S Climate Change Summit. At this year's conference, about forty
Speaker 1: countries will outline their plans for cutting methane emissions. In China,
Speaker 1: hopes you're fading that authorities will lift a lockdown of
Speaker 1: the area surrounding the world's largest iPhone factory. COVID cases
Speaker 1: have more than doubled in the city of Sheng Zoe.
Speaker 1: A seven day lockdown of the air Yeah that houses
Speaker 1: Apple's global iPhone production based expires tomorrow. The local government
Speaker 1: may extend the curbs, and Nintendo has cut its fiscal
Speaker 1: year forecast for switched console sales by ten percent nineteen million.
Speaker 1: Japanese company blames a shortfall in part on a prolonged
Speaker 1: ship shortage. Nintendo said it's now front loading production to
Speaker 1: maximize delivery in the holiday shopping season. That's the Bloomberg
Speaker 1: and j I t Stem Report. Nathan Okay, Karen, thank you.
Speaker 1: We are live from the Bloomberg Interactive Brokers studios where
Speaker 1: at six fifty on Wall Street timed owt to check
Speaker 1: what's going on in d C. On this mid term
Speaker 1: election day. Americans are set to deliver an early verdict
Speaker 1: on President Biden. President says the House will be tougher
Speaker 1: to keep them the Senate, and former President Donald Trump
Speaker 1: is teasing a big announcement a week from today. Let's
Speaker 1: bring in Joe Matthew, now part of our team of
Speaker 1: correspondence covering this mid term election, our Washington correspondent, host
Speaker 1: of sound on Here on Bloomberg Radio. Joe, good morning.
Speaker 1: Of course, we know midterm elections are typically tough on
Speaker 1: the party in power. How tough could this one be
Speaker 1: for Democrats? Well, it's interesting, you know, look, most of
Speaker 1: the projections are not great for the House. It does
Speaker 1: look like Republicans will take control of the House. The
Speaker 1: Senate is a little bit more nuanced, although most of
Speaker 1: the recent polling we've seen would suggest that the Senate
Speaker 1: could turn red as well. Democrats lose Capitol Hill, they
Speaker 1: keep the White House, and we have gridlock for the
Speaker 1: next couple of years. But you know, it's it's interesting
Speaker 1: how you define a win here, and you know this
Speaker 1: is leave it the politicians to figure a way to
Speaker 1: turn a loss into a win. It really comes down
Speaker 1: to in the House, how many seats are actually flipped.
Speaker 1: Knowing that the president has had a very low approval rating,
Speaker 1: has been in the forties, even slipping into the thirties
Speaker 1: at points of you know, his first two years in office. Here,
Speaker 1: most of the projections that we're looking at from places
Speaker 1: like cook Political Report from five thirty eight would suggest
Speaker 1: that somewhere between five fifteen and twenty five seats, maybe
Speaker 1: on a bad night, thirty seats flip Republican And that
Speaker 1: would actually be pretty good on historic terms. I don't
Speaker 1: want to go too far into this, but for a
Speaker 1: little bit of perspective, Donald Trump lost forty seats in
Speaker 1: his midterms. Barack Obama, you go back to Rember, he
Speaker 1: called that a shell lacking. That was sixty three seats.
Speaker 1: That would be considered a blood bath tonight. So as
Speaker 1: far as things go historically, yes, the House likely to flip,
Speaker 1: but we're not expecting to see as many individual seats
Speaker 1: turned as we might historically. What kind of volatility are
Speaker 1: you expecting when it comes to the possibility that we
Speaker 1: might not know the results of some pretty closely tight
Speaker 1: run races in some key battleground states after tonight, Well,
Speaker 1: we're not and we're really going out of our way here,
Speaker 1: Nathan to warn people that you're not gonna know tonight
Speaker 1: the outcome of some of these races. You're probably not
Speaker 1: going to know tomorrow. We may not know who controls
Speaker 1: the Senate for a month. And the reason why I
Speaker 1: say that is because states like Georgia, for instance, the
Speaker 1: race between herschel Walker and Senator Raphael Warnock, if they
Speaker 1: don't get fifty one of them and these guys are
Speaker 1: are It's true, too close to call. They've been within
Speaker 1: a percentage point for weeks and weeks. Now that's gonna
Speaker 1: go to a runoff. If neither Canada gets fIF that
Speaker 1: runoff takes place in December, that means we're gonna be
Speaker 1: waiting quite a while here. Pennsylvania meantime, also too close
Speaker 1: to call. That's Dr Roz and John Fetterman. Uh, they
Speaker 1: don't even start counting the early votes. And we've had
Speaker 1: more than forty million Americans vote early in this mid
Speaker 1: term cycle, which is a pretty impressive number, Nathan. They
Speaker 1: don't even get to counting those votes until poll's close
Speaker 1: at eight o'clock tonight. So here we are on election
Speaker 1: day and we know it's going to be days, if
Speaker 1: not weeks, before we have a real sense of what
Speaker 1: happens tonight. You mentioned Pennsylvania, Joe, that's one of the
Speaker 1: few states that are competitive that President Biden has managed
Speaker 1: to visit in these final days and weeks of the campaign.
Speaker 1: What do you make of his campaign schedule over the
Speaker 1: last few days. It seems as though, for the most part,
Speaker 1: he's been appearing in states and cities that are fairly
Speaker 1: safe bets for Democrats in New York, Maryland, Pennsylvania. These
Speaker 1: are areas that are that are considered friendly to Joe Biden. Uh,
Speaker 1: and this is common in mid term cycles. Look, there
Speaker 1: was a time when Barack Obama, who by the way,
Speaker 1: was fanned out around the country going to states like
Speaker 1: Arizona and Georgia. He wasn't invited to a lot of
Speaker 1: districts during his midterm election cycle. Donald Trump wasn't really
Speaker 1: wanted in a lot of areas in his midterm This
Speaker 1: is kind of the classic deal here. And for Joe Biden,
Speaker 1: with with the relatively low approval ratings strength through his
Speaker 1: first two years here, Uh, they really didn't want to
Speaker 1: overdo it. You know. He made a couple of speeches
Speaker 1: on saving democracy, he did a lot of fundraising, but
Speaker 1: in terms of standing on stage with a candidate, Yeah,
Speaker 1: you're right, Nathan. There's a reason why states like Maryland
Speaker 1: and New York out of visit and others. DEDA. We've
Speaker 1: been talking so much about how the voter focus is
Speaker 1: on inflation in the economy and especially in the last
Speaker 1: few weeks here, but how much shall we be looking
Speaker 1: at this mid term as a potential proxy race between
Speaker 1: President Biden and former President Donald Trump? Given that he's
Speaker 1: been hinting very strongly that he's running in twenty four. Yeah,
Speaker 1: I don't. Look, you can't deny it. We've we've got
Speaker 1: nearly three hundred candidates endorsed by Donald Trump who have professed,
Speaker 1: at least at one point of their career here in
Speaker 1: this campaign cycle, to not actually accept the results of
Speaker 1: the election. Uh so, yeah, here we are on election
Speaker 1: even Donald Trump, who's who was in Ohio to stump
Speaker 1: for J. D. Vance, a candidate who would not likely
Speaker 1: even be in the running right now if it weren't
Speaker 1: for Donald Trump. Instead of forwarding his own candidates, he
Speaker 1: sort of steals the headlines once again by promoting an
Speaker 1: announcement on November. It is widely believed that he will
Speaker 1: jump into the race despite the financial consequences, and at
Speaker 1: that point it's going to be all about twenty four.
Speaker 1: Some think it already is about twenty four. Because keep
Speaker 1: in mind, Nathan, that if a lot of these election deniers,
Speaker 1: particularly in states like Arizona where you have secretaries of
Speaker 1: state and others who would be indirectly involved in vote
Speaker 1: counting and vote certifying, actually set the foundation for what
Speaker 1: Donald Trump hopes will be his turn in twenty four. Finally, Joe,
Speaker 1: we've heard from how Speaker Nancy Pelosi. She gave an
Speaker 1: interview on CNN last night where she was asked whether
Speaker 1: the attack on her husband will affect whether she decides
Speaker 1: to retire after this term. Are you looking out for
Speaker 1: the possibility of political violence at this midterm or even
Speaker 1: the threat of that potentially affecting how these races turn out.
Speaker 1: I don't know if it's about violence. Look, you know,
Speaker 1: we've seen stories about about armed and uh and and
Speaker 1: and masked people hanging around drop boxes, for instance, the
Speaker 1: idea of intimidation. We have seen instances like Paul Pelosi
Speaker 1: where there was violence. I think there's a concern that
Speaker 1: if we don't know for a couple of days who
Speaker 1: won that that, look, that could turn into something. But
Speaker 1: I don't think anybody's talking about in January six year
Speaker 1: in terms of Nancy Pelosi. On the other hand, you know,
Speaker 1: it's really interesting that's the first complete remarks really we've
Speaker 1: heard from her since Paul Pelosi was attacked. She was
Speaker 1: seemed very upset in the interview with CNN, and it
Speaker 1: looked this could go one way or the other. Uh,
Speaker 1: this is not somebody who is new to the game here,
Speaker 1: and in fact, it's been suggested she might retire anyway.
Speaker 1: But does this actually motivate her to stay in the
Speaker 1: in the fray or does it make her want to
Speaker 1: go home? If she stays in the United States House, however,
Speaker 1: there will likely be a concerted effort to to try
Speaker 1: to get the gavel from from a younger Democrat. Thanks
Speaker 1: for this, Joe, great having on with us on election day.
Speaker 1: Joe Matthew are Washington correspondent hosts of sound On. You
Speaker 1: can catch it every weekday afternoon five pm Wall Street
Speaker 1: Time across Bloomberg Radio, and stay with Bloomberg Radio and
Speaker 1: Television for complete midterm election coverage. Tom Keene, Jonathan Farroll,
Speaker 1: and Lisa Bramowitz are in Washington for Bloomberg Surveillance. That's next.
Speaker 1: I'm Nathan Hagar for Karen Moscott. This is Bloomberg