WEBVTT - Bloomberg Daybreak: November 9, 2022 - Hour 1 (Radio) 0:00:02.240 --> 0:00:05.519 Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 0:00:05.559 --> 0:00:09.240 day Break for Wednesday, November nine two. Coming up this hour, 0:00:09.560 --> 0:00:12.640 a mixed mid term verdict from voters. Republicans head toward 0:00:12.680 --> 0:00:16.400 a slimmer House majority than expected. John Fetterman beats Mentalls 0:00:16.480 --> 0:00:19.720 in the key Pennsylvania Senate race. Georgia maybe headed for 0:00:19.760 --> 0:00:23.000 a Senate runoff between Raphael Warnock and herschel Walker. And 0:00:23.040 --> 0:00:25.599 in New York, Kathy Hukel defeats Lee Zelden, and the 0:00:25.720 --> 0:00:28.880 race for governor closer. Look at the local election results 0:00:28.880 --> 0:00:31.560 in the Tri state area, plus North Korea has fired 0:00:31.560 --> 0:00:34.960 a suspected ballistic missile. I'm Michael Blar more ahead, I'm 0:00:35.040 --> 0:00:37.879 John Stashtower and swards a third period rally for the Islanders, 0:00:37.880 --> 0:00:40.840 debat the Rangers, The Devil's One Again, and Nicks play 0:00:40.880 --> 0:00:45.000 the Nets Tonight. That's all straight Ahead on Bloomberg day 0:00:45.040 --> 0:00:50.000 Break on Bloomberg, he Living TREEO New York, Bloomberg one, Washington, 0:00:50.080 --> 0:00:54.120 d C, Bloomberg one, O six one, Boston, Bloomberg nine sixty, 0:00:54.200 --> 0:00:58.080 San Francisco, Sirius x M one nine Team, and around 0:00:58.120 --> 0:01:01.000 the world on Bloomberg Radio Dot come and via the 0:01:01.080 --> 0:01:09.679 Bloomberg Business. Good morning, I'm Nathan Hagar and I'm Kared 0:01:09.760 --> 0:01:13.400 Moscow and US futures are lower on this day after 0:01:13.440 --> 0:01:15.280 the mid terms. It is coming up to five out 0:01:15.319 --> 0:01:17.800 one on Wall Street and SMP futures are down about 0:01:17.840 --> 0:01:20.160 nineteen points down. Futures down a hundred fifty six and 0:01:20.240 --> 0:01:24.000 NASDAK futures down one. Tenure Treasury down five thirty seconds. 0:01:24.040 --> 0:01:27.120 Yelled four point one four per cent Nathan Karen this morning. 0:01:27.120 --> 0:01:29.000 It is all about the mid term elections. While the 0:01:29.080 --> 0:01:31.920 GOP has made gains in the House, control of the 0:01:31.959 --> 0:01:35.240 Senate hangs in the ballance. Amy Morris begins our team 0:01:35.280 --> 0:01:39.559 coverage from the Bloomberg newsroom in Washington. Democrats are keeping 0:01:39.560 --> 0:01:42.240 the balance of power in the House closer than anticipated. 0:01:42.400 --> 0:01:44.640 As for the Senate, it might be a while longer 0:01:44.680 --> 0:01:47.600 before the results are clear. We do know Democrat John 0:01:47.640 --> 0:01:50.240 Fetterman defeated Trump backed mem At Oz for the Senate 0:01:50.280 --> 0:01:53.440 seat from Pennsylvania with fifty percent of the vote. Oz 0:01:53.480 --> 0:01:56.400 got forty seven point six percent. I never expected that 0:01:56.440 --> 0:01:59.200 we were going to turn these red counties blue, but 0:01:59.320 --> 0:02:02.200 we did. We needed to do. Georgia maybe headed for 0:02:02.280 --> 0:02:05.560 a runoff Democrat Raphael Warnock with a slight edge over 0:02:05.600 --> 0:02:09.040 Trump backed Herssel Walker forty nine point four percent forty 0:02:09.040 --> 0:02:11.440 eight point six percent, and the count was delayed in 0:02:11.480 --> 0:02:15.640 Arizona after tabulation machines went down. Democrat Mark Kelly currently 0:02:15.680 --> 0:02:19.400 holds a lead over Republican Blake Masters fifty sixty one percent, 0:02:19.639 --> 0:02:22.320 and Nevada is expected to go uncalled until later in 0:02:22.360 --> 0:02:25.559 the week because of delays from counting mail in ballots 0:02:25.600 --> 0:02:28.480 in Washington. I'm any Morris Bloomberg, daybreak, All right, Amy, 0:02:28.560 --> 0:02:30.560 thank you. While taking a look at some other key 0:02:30.680 --> 0:02:34.799 Senate races, Trump back Republican j D. Fans defeated Democrat 0:02:34.880 --> 0:02:38.000 Tim Ryan for Ohio Senate. He won with fifty three 0:02:38.040 --> 0:02:41.040 percent of the vote. New Hampshire Democrat Maggie Hasson beat 0:02:41.040 --> 0:02:44.200 the Republican Don Valdock for the state's open Senate seed 0:02:44.240 --> 0:02:47.240 with fifty four percent of the vote. Colorado Democrat Michael 0:02:47.280 --> 0:02:49.560 Bennett got fifty five percent of the vote to keep 0:02:49.639 --> 0:02:53.720 his Senate seat over Republican Joe o'della, and North Carolina 0:02:53.760 --> 0:02:57.640 Republican Ted Bud edged out Cherry Beasley with nearly fifty 0:02:57.639 --> 0:03:00.679 one percent of votes. Meantime and was in the race 0:03:00.840 --> 0:03:03.679 too close to call. Republican Senator Ron Johnson leads to 0:03:03.680 --> 0:03:08.519 Democrat Mandela Barnes fifty point six percent to that's what 0:03:08.680 --> 0:03:12.040 just under of the vote counted, and we have results 0:03:12.080 --> 0:03:14.640 from a handful of racist for Governor Karen. Let's begin 0:03:14.720 --> 0:03:18.840 in New York, where Democrat Kathy Hokel has defeated Republican Leeselden. 0:03:19.040 --> 0:03:22.560 Bloomberg's Michael Barr continues our election team coverage live in 0:03:22.600 --> 0:03:25.760 New York. Michael Nathan, thank you very much. Democrat Kathy 0:03:25.800 --> 0:03:29.200 Hokel has become the first woman elected New York governor, 0:03:29.240 --> 0:03:33.240 winning the office outright. Hokel took over in one when 0:03:33.240 --> 0:03:37.080 former Governor Andrew Cuomo resigned. HOCl defeated lez Elden, who 0:03:37.160 --> 0:03:40.760 ran a campaign focused on fear of violent crime. She 0:03:40.960 --> 0:03:43.680 thanks supporters last night. I want to speak directly to 0:03:43.760 --> 0:03:49.320 New Yorker's tonight, you major voices heard loud and clear. 0:03:51.360 --> 0:03:55.160 Pokel got nearly fifty three percent, with Zelden receiving just 0:03:55.280 --> 0:03:58.840 over forty seven percent. However, Zelden is not conceding in 0:03:58.920 --> 0:04:01.400 other races, called I a p for the U. S. 0:04:01.400 --> 0:04:07.640 Senate Charles Schumer beat Republican challenger Joe Pinion, and Connecticut 0:04:07.680 --> 0:04:12.080 incumbent Democratic governor Ed Lamott beat Republican challenger Robert Stefanowski 0:04:13.880 --> 0:04:17.440 percent U S. Senator Richard bloom won his reelection over 0:04:17.480 --> 0:04:21.919 Republican Leora Leaving with fift in New York. Michael Barr 0:04:21.920 --> 0:04:25.200 Bloomberg Daybreak, Karen Nathan all right, Michael, thank you will 0:04:25.240 --> 0:04:27.080 a pair of governors who have eyes on the White 0:04:27.120 --> 0:04:30.440 House for victorious last night. Republican Rhonda Santis in Florida 0:04:30.480 --> 0:04:34.480 and Democrat Gavin Newsom in California both handily won re election. 0:04:34.760 --> 0:04:38.200 De Santis be to Democratic challenger at Charlie christ garnering 0:04:38.960 --> 0:04:41.719 of the vote in Florida. I believe the survival of 0:04:41.720 --> 0:04:47.280 the American experiment requires a revival of true American principles. 0:04:47.640 --> 0:04:52.120 Florida has proved that it can be done. That victory 0:04:52.200 --> 0:04:55.200 speech from De Santis did not mention Donald Trump or 0:04:55.279 --> 0:04:58.799 speculation that he will run for president. In California, Newsom 0:04:58.880 --> 0:05:02.800 easily defeated his Republican challenger, Brian Daley, with almost sixty 0:05:02.839 --> 0:05:05.080 percent of the vote. Overall, care and there were thirty 0:05:05.160 --> 0:05:07.960 six races for governor across the country. Let's get more 0:05:08.000 --> 0:05:11.080 on those highlights now live with Bloomberg's John Tucker, Good 0:05:11.080 --> 0:05:13.680 Morning John, and Nathan. Democrats pulled out wins in some 0:05:13.800 --> 0:05:17.679 key states. In Michigan, Democrat Gretchen Whitmer defeated Republican Tudor 0:05:17.720 --> 0:05:21.000 Dixon with fifty three percent of the vote. Democrat Josh 0:05:21.000 --> 0:05:25.359 Shapiro one in Pennsylvania, beating Republican Doug master Riano with 0:05:25.520 --> 0:05:29.640 fifty percent of the vote. Wisconsin incumbent Democratic Governor Tony 0:05:29.720 --> 0:05:32.120 Evers got fifty one percent of votes to win over 0:05:32.360 --> 0:05:37.640 Republican Tim Michaels. Colorado's Democratic governor Jared Paulis gonnered fifty 0:05:37.680 --> 0:05:40.920 seven percent of the vote to eat the Republican Heidi Ganel. 0:05:41.400 --> 0:05:44.920 In New Mexico, Democrat Michelle le John Grisham beat Republican 0:05:45.120 --> 0:05:49.040 Mark Ronchetti with fifty two percent of votes. Illinois Governor J. B. 0:05:49.200 --> 0:05:52.880 Prisker defeated trump back Republican Darren Bailey with fifty four 0:05:52.920 --> 0:05:55.920 percent of the vote. And in Georgia, Republican Governor Brian 0:05:56.040 --> 0:05:58.520 Kemp got fifty three percent of the vote to beat 0:05:58.520 --> 0:06:02.400 Democrats Stacy Abram. Finally a key governor's race yet to 0:06:02.400 --> 0:06:06.560 be decided in Arizona. Democrat Kitty Hobbs currently leads Trump 0:06:06.600 --> 0:06:10.800 back Republican carry Lake fifty one percent to forty eight 0:06:10.800 --> 0:06:13.920 point seven percent. Just under sixty one percent of votes 0:06:13.960 --> 0:06:17.320 have been counted so far. Karen and Nathan, Sorry, John, 0:06:17.360 --> 0:06:19.680 thanks well. Overall, it was a historic night at the polls. 0:06:19.760 --> 0:06:22.120 More women than ever ran for governor, more black women 0:06:22.160 --> 0:06:25.039 ran for Congress, and more LGBTQ people vied for a 0:06:25.120 --> 0:06:27.440 spot in the House or Senate. As you mentioned before, 0:06:27.520 --> 0:06:30.040 Cappy Hokel became the first woman elected governor in New 0:06:30.120 --> 0:06:32.680 York and Massachusetts. Maurri Halley will be the first woman 0:06:32.680 --> 0:06:35.680 elected to serve as the state's governor. Democrat Westmore will 0:06:35.680 --> 0:06:39.320 be Maryland's first black governor, and Republicans Sarah Huggabee Sanders 0:06:39.320 --> 0:06:41.640 has become the first woman elected to serve as governor 0:06:41.640 --> 0:06:45.400 of Arkansas. Now for more reaction, Karen Bloomberg Politics contributor 0:06:45.440 --> 0:06:47.840 Jeannie she and Zano says this was not the red 0:06:47.839 --> 0:06:50.479 wave many pundits were predicting. What we're gonna have to 0:06:50.480 --> 0:06:52.760 go back and think about is what do we attribute 0:06:52.760 --> 0:06:55.359 that to? Do we attribute it to candidates? Some of 0:06:55.360 --> 0:06:57.839 these Magga candidates. Do we attribute it to issues like 0:06:57.960 --> 0:07:01.920 Dobbs What is sort of been the Democrat's ability if 0:07:01.960 --> 0:07:04.800 it holds up to defy at least a little bit 0:07:04.839 --> 0:07:07.400 of some of that gravity. As we go forward on 0:07:07.520 --> 0:07:10.360 the collegist Jeannie Sheanzano. And in the interests of transparency, 0:07:10.360 --> 0:07:12.679 we should note that Michael Bloomberg, majority owner of Bloomberg 0:07:12.760 --> 0:07:15.960 Radio parent Bloomberg LP, was a major donor to Democratic 0:07:16.000 --> 0:07:23.720 candidates this election cycle. This is Bloomberg. That's sound five 0:07:23.720 --> 0:07:25.680 oh seven on Wall Street, word forty one degrees in 0:07:25.720 --> 0:07:29.720 Central Park and we've got an overturned vehicle westbound Bruckner Expressway. 0:07:30.120 --> 0:07:32.440 Tell you more in traffic. First, Michael bars back with 0:07:32.680 --> 0:07:34.880 what else is happening in New York and around the world. 0:07:35.080 --> 0:07:37.880 Once again, Good morning Michael, Good morning Nathan. Taking a 0:07:37.920 --> 0:07:41.840 look at other local races and the results. Republican Town 0:07:41.920 --> 0:07:46.320 Kane won the House race in New Jersey seventh Congressional district, 0:07:46.680 --> 0:07:52.280 beating Democratic incumbent Tom Malianowski. The Kane got fifty two 0:07:52.280 --> 0:07:55.720 percent of the vote. Kane, a former state senator, narrowly 0:07:55.800 --> 0:08:01.760 lost to Malanowski in a house race. Democrat Mikey Sheryl 0:08:01.880 --> 0:08:03.960 won another term in the U. S. House, beating the 0:08:04.000 --> 0:08:08.040 GOP s Tom the Groot Cheryl received fifty eight percent. 0:08:08.600 --> 0:08:14.920 Democratic Representative Josh Gotdheimer beat Republican challenger Frank Polatta. Goddheimer 0:08:14.960 --> 0:08:17.720 received more than fifty four percent of the vote. Taking 0:08:17.760 --> 0:08:21.040 a look now at more races in New York, Republican 0:08:21.160 --> 0:08:24.200 Nicole mal Atakas has one re election to the US 0:08:24.280 --> 0:08:29.040 House in New York's eleventh congressional district, after defeating Max Rose. 0:08:29.440 --> 0:08:32.040 She gave a victory speech to her supporters last night, 0:08:33.200 --> 0:08:45.400 amazing amazing. Malatakis got sixty two percent of the vote. 0:08:45.679 --> 0:08:50.560 Democrat Alexandria Occassio Cortez has one another U. S. House term, 0:08:50.640 --> 0:08:54.600 easily beating her Republican opponent, Tina Forte with more than 0:08:54.760 --> 0:08:58.960 seventy of the vote. North Korea fired a short range 0:08:58.960 --> 0:09:02.480 ballistic missile toward the waters off its east coast today. 0:09:02.960 --> 0:09:07.760 According to Japan, the missile flew about two hundred fifty kilometers. 0:09:08.320 --> 0:09:12.280 It apparently landed outside of Japan's Exclusive economic zone, and 0:09:12.320 --> 0:09:16.199 there have been no reports of damage. Florida's coastline prepares 0:09:16.240 --> 0:09:18.880 for another tropical storm in the coming days, as Nicole 0:09:19.000 --> 0:09:22.400 takes aim for the mainland. It's expected to make landfall 0:09:22.520 --> 0:09:25.360 sometime early tomorrow. The cold is going to take a 0:09:25.400 --> 0:09:29.439 sharp turn to Georgia and eventually South and North Carolina 0:09:29.480 --> 0:09:32.520 and up the East coast. In Palm Beach County, Florida, 0:09:32.679 --> 0:09:36.359 local emergency was declared and several areas were given evacuation 0:09:36.520 --> 0:09:40.520 orders ahead of the storm's landfall. Mayor Robert Winroth on 0:09:40.640 --> 0:09:45.719 Beach County is announcing evacuations for Zone A and B. 0:09:46.720 --> 0:09:51.920 This includes mobile homes, barrier islands, and low lying areas. 0:09:52.800 --> 0:09:56.839 Mayor Winroth says heavy rainfall is very possible, with urban 0:09:56.880 --> 0:10:01.559 flooding possible as well. President Joe Biden heading to international 0:10:01.600 --> 0:10:04.840 climate talks in Egypt for the message that historic American 0:10:04.880 --> 0:10:09.040 action to fight climate change won't shift into reverse. Global 0:10:09.040 --> 0:10:11.360 News twenty four hours a day on air and on 0:10:11.400 --> 0:10:14.680 Bloomberg Quicktake, powered by more than twenty seven hundred journalists 0:10:14.679 --> 0:10:17.600 and analysts more than a hundred twenty countries. Michael Barren, 0:10:17.720 --> 0:10:24.920 this is Bloomberg ain't Thanks Michael five ten on Wall 0:10:24.960 --> 0:10:26.679 Street Time for the Bloomberg Sports Update, brought to you 0:10:26.720 --> 0:10:29.320 by try State Auti Gimrty, Johns Teshire, good Morty, Nathan 0:10:29.360 --> 0:10:32.040 There are three New York Area hockey teams. Two are hot, 0:10:32.080 --> 0:10:34.280 the Rangers are not. Blue Sturts lost their third in 0:10:34.320 --> 0:10:37.040 a row at the Garden. The Islanders rallied for three 0:10:37.080 --> 0:10:39.040 third period goals to win four to three, and they've 0:10:39.120 --> 0:10:41.680 got won seven of their last eight. The Devils have 0:10:41.840 --> 0:10:44.319 won all of their last seven. First place at ten 0:10:44.360 --> 0:10:46.240 and three with a three to home win over Calgary. 0:10:46.280 --> 0:10:49.720 The Devil's doing this without goalie Mackenzie Blackwood. He's gonna 0:10:49.720 --> 0:10:52.000 miss three to six weeks knee injury, and the Devil's 0:10:52.000 --> 0:10:55.120 big offseason pick up, Andre Polott is gonna be out 0:10:55.120 --> 0:10:58.240 eight to ten weeks with injured Growing Nixon Nets. Tonight, 0:10:58.280 --> 0:11:01.200 at Barkley's first meeting of the season, Justice Jacob Degrant 0:11:01.200 --> 0:11:04.320 made his free agency official. Metro said to a gun 0:11:04.360 --> 0:11:07.600 talks with his agent, Anthony Rizzo, may stick with the Yankees. 0:11:07.640 --> 0:11:10.720 They tendered him a qualifying offer so he can stay 0:11:11.200 --> 0:11:13.280 make about nineteen and a half million dollars. If he 0:11:13.360 --> 0:11:15.880 leaves as a free agent, Yanks would get a draft 0:11:15.920 --> 0:11:20.120 pick compensation. College football playoff committees top four this week 0:11:20.640 --> 0:11:24.280 George OLIFINNY National Champs, then Ohio State, then Michigan those 0:11:24.280 --> 0:11:26.959 two played a couple of weeks and TCU is number four, 0:11:27.000 --> 0:11:30.120 All four nine and Oh Tennessee fell from first down 0:11:30.120 --> 0:11:33.800 to fifth. Alabama's now ninth. Clemson his tent John Dash 0:11:33.880 --> 0:11:38.080 Award Bloomberg Sports. Thank you, John. Futures are turning lower 0:11:38.120 --> 0:11:40.280 this morning after the election right now. S and P 0:11:40.440 --> 0:11:43.040 futures are down twenty points. Staff futures down a hundred 0:11:43.080 --> 0:11:46.720 seventy seven, NASDAC futures are lower by sixty two points. 0:11:46.760 --> 0:11:49.400 That's a drop of about a half percent across the board. 0:11:49.720 --> 0:11:52.520 Ten Your treasuries down five thirty seconds yield four point 0:11:52.520 --> 0:11:54.959 one four percent yield on the two year four point 0:11:55.000 --> 0:11:58.360 six seven. More reaction and analysis to the mid term results. 0:11:58.520 --> 0:12:01.240 Greg Vali, Chief US Paul he strategist that a GF 0:12:01.360 --> 0:12:08.120 Investments joins us. Next to this is Bloomberg. Bloomberg Sports 0:12:08.160 --> 0:12:09.880 was brought to you by Audie. Don't let someone else 0:12:09.960 --> 0:12:12.240 drive off in the Audi model you've always wanted. Visit 0:12:12.280 --> 0:12:14.520 your local price state Autie dealer to get behind the 0:12:14.520 --> 0:12:17.320 wheel of yours today, or visit Autie Offers dot com 0:12:17.320 --> 0:12:25.400 for more information, markets, headlines and breaking news twenty four 0:12:25.440 --> 0:12:28.480 hours a day at Bloomberg dot Com and Bloomberg Business 0:12:28.480 --> 0:12:38.040 at and at Bloomberg Quicktake, He's a Bloomberg Business Flash 0:12:38.640 --> 0:12:41.720 and I'm camerin Moscow. US Dot Index futures are falling 0:12:41.960 --> 0:12:44.760 as the mid term elections throw up a mixed verdict. 0:12:44.840 --> 0:12:47.120 We checked the markets every fifteen minutes throughout the trading 0:12:47.200 --> 0:12:49.600 day on Bloomberg U S and P futures down twenty 0:12:49.600 --> 0:12:52.520 one points down, futures down a hundred eighty two Nasdack 0:12:52.600 --> 0:12:55.200 future is down sixty three. The ten year treasury down 0:12:55.200 --> 0:12:57.640 four thirty seconds. He held four point one four percent, 0:12:58.000 --> 0:13:00.400 held on the two year four point six six per cent. 0:13:00.720 --> 0:13:02.800 Nine Make Screwed Oil down six tenths per cent or 0:13:02.840 --> 0:13:05.200 fifty four cents at eighty eight dollars thirty seven cents 0:13:05.200 --> 0:13:07.600 of Barrel Co Makes Goal down half percent or eight 0:13:07.600 --> 0:13:10.640 dollars thirty cents at seventeen o seven seventy announced the 0:13:10.760 --> 0:13:13.320 euro one point zero zero four nine against the dollar, 0:13:13.360 --> 0:13:15.679 British found one point one four four one, and the 0:13:15.880 --> 0:13:18.600 N one forty five point seven six. Watching Disney this 0:13:18.640 --> 0:13:22.040 morning down almost eight percent. The company evaluating its costs 0:13:22.040 --> 0:13:26.160 and seeking meaningful efficiencies after reporting results fl short of 0:13:26.160 --> 0:13:29.559 analysts expectations and Elon Muski has sold more than three 0:13:29.600 --> 0:13:32.600 point nine billion dollars of shares of Tesla just days 0:13:32.640 --> 0:13:35.440 after closing his buyout of Twitter is now unloaded about 0:13:35.480 --> 0:13:37.960 thirty six billion dollars worth of shares in the company 0:13:37.960 --> 0:13:41.120 in the last year. Tesla shares are higher in early training, 0:13:41.160 --> 0:13:43.599 up about seven tenths of upper cent. And that's a 0:13:43.640 --> 0:13:46.480 Bloomberg business flash. Now here's Michael Barr with more on 0:13:46.559 --> 0:13:49.000 what's going on around the world. Michael, good morning, Good 0:13:49.040 --> 0:13:52.079 morning Karen. Many votes are still being counted from Tuesday's 0:13:52.080 --> 0:13:55.520 midterm elections, but Republicans are still favorites to take back 0:13:55.559 --> 0:13:59.600 the House. Speaking at an election night event in Washington, 0:13:59.679 --> 0:14:03.840 D's House minority Leader Kevin McCarthy was very confident, Thank 0:14:03.920 --> 0:14:08.559 you to everyone who voted Republican for the very first time. 0:14:10.679 --> 0:14:14.559 Democrat John Fetterman will be the next Senator from Pennsylvania, 0:14:14.640 --> 0:14:19.320 beating his Republican opponent, Dr. Memidaz Feederman addressed supporters in 0:14:19.360 --> 0:14:23.880 Pittsburgh overnight, describing as campaign six months after he suffered 0:14:23.880 --> 0:14:26.720 a stroke. This campaign has always been about fighting for 0:14:26.760 --> 0:14:30.120 everyone who's ever been got knocked down, that ever got 0:14:30.160 --> 0:14:33.840 back up. Democrat Kathy Hokel has become the first woman 0:14:33.960 --> 0:14:37.960 elected New York governor, winning the office outright. Hokel took 0:14:38.000 --> 0:14:42.240 over in one when former Governor Andrew Cuomo resigned. Hocle 0:14:42.400 --> 0:14:46.240 defeated Republican Congressman Lee Zelden, who ran a campaign focused 0:14:46.360 --> 0:14:49.840 on fear of violent crime. In Texas, Governor Greg Abbott 0:14:49.880 --> 0:14:54.080 fended off a challenge from Democrat Beto O'Rourke. Governor Abbott 0:14:54.480 --> 0:14:57.240 says border security was one of the main issues driving 0:14:57.320 --> 0:15:00.360 votes in his state. Abbot also says we must never 0:15:00.400 --> 0:15:05.920 forget our schools are education not indoctor Nation Global News 0:15:06.000 --> 0:15:08.560 twenty four hours a day on air and on Bloomberg 0:15:08.640 --> 0:15:11.560 Quick Take, powered by more than twenty seven hundred journalists 0:15:11.560 --> 0:15:14.200 and analysts more than a hundred twenty countries. Michael barn 0:15:14.280 --> 0:15:16.520 this is Bloomberg, Nathan, Thank you, Michael. It's five twenty 0:15:16.520 --> 0:15:19.240 on Wall Street Life from the Bloomberg Interactive Broker Studios. 0:15:19.240 --> 0:15:22.520 This is Bloomberg Daybreak. Let's get more post election analysis 0:15:22.560 --> 0:15:24.600 now as the votes continue to be counted. We're joined 0:15:24.640 --> 0:15:28.040 by Greg Valiard this morning, chief US policy strategist at 0:15:28.080 --> 0:15:31.160 a GF Investments. Greg, good morning. If this had been 0:15:31.200 --> 0:15:33.360 a red wave. I think we would have been able 0:15:33.400 --> 0:15:36.920 to call the Republican majority in the House by now, 0:15:36.960 --> 0:15:40.600 but this morning there's still about seven or nineteen seats 0:15:40.720 --> 0:15:44.200 shy of a majority in the House. Your thoughts on 0:15:44.240 --> 0:15:47.560 this election, Well, what a night, Nathan. Great to be 0:15:47.680 --> 0:15:50.320 with you. I think there are two big takeaways. Number One, 0:15:51.040 --> 0:15:53.840 gridlock is good. The markets are going to be looking 0:15:53.880 --> 0:16:01.040 at two years of gridlock with the Republicans early taking 0:16:01.080 --> 0:16:04.240 the House and maybe the Democrats keeping a tie in 0:16:04.320 --> 0:16:07.120 the Senate, which would give them control. The other big 0:16:07.120 --> 0:16:10.360 implication of my opinion is that all of this fear 0:16:10.680 --> 0:16:16.160 about more voting irregularities, social unrest, etcetera may subside. There 0:16:16.200 --> 0:16:21.160 were no dramatic irregularities last night. Okay. Now we are 0:16:21.200 --> 0:16:24.000 seeing a pretty interesting market reaction, though, with a bit 0:16:24.000 --> 0:16:26.320 of a sell off in the futures this morning, a 0:16:26.320 --> 0:16:30.000 half percent decline across the board. What should market participants 0:16:30.000 --> 0:16:32.840 be pricing in when it comes to how things are 0:16:32.840 --> 0:16:38.400 going to look in Washington once the dust finally settles completely. Yeah, again, 0:16:38.480 --> 0:16:41.960 I think the markets will have to price in gridlock. 0:16:42.840 --> 0:16:46.520 If you worry about tax increases, are more spending. I 0:16:46.560 --> 0:16:49.920 think that the new House will reject that. At the 0:16:49.960 --> 0:16:54.160 same time, Biden has a veto power. If Republicans try 0:16:54.200 --> 0:16:57.640 to pass something radical, he would Vieto in. And I've 0:16:57.760 --> 0:17:01.120 said from my entire career the redlock is good because 0:17:01.160 --> 0:17:05.240 it means they do less harm. What does a slimmer 0:17:05.359 --> 0:17:10.760 Republican majority mean for policy going forward here in terms 0:17:11.000 --> 0:17:13.760 of what the leadership is going to look like in 0:17:13.840 --> 0:17:17.919 the House. Is a future speaker McCarthy still in the 0:17:18.000 --> 0:17:22.000 cards here? I think so, Nathan, But it's a good question. 0:17:22.160 --> 0:17:25.359 I think that he since he will have a very 0:17:25.359 --> 0:17:29.200 small majority, Uh, he may have to cut deals with 0:17:30.080 --> 0:17:33.600 the far right people like Marjorie Taylor Green. Uh, he 0:17:33.760 --> 0:17:37.080 may have to go to them and make some concessions. 0:17:37.119 --> 0:17:41.199 I think McCarthy was hoping for twenty five or thirty seats, 0:17:41.200 --> 0:17:44.560 and he certainly didn't get that kind of majority. What's 0:17:44.560 --> 0:17:47.440 the mandate do you think from an election like this 0:17:47.680 --> 0:17:51.359 when Democrats had I think it's safe to say a 0:17:51.480 --> 0:17:55.960 much better night than a lot of pundits were predicting. Yeah, 0:17:56.000 --> 0:17:58.720 And I am part of the group who thought that 0:17:58.760 --> 0:18:01.160 there could have been a read wave, and there certainly 0:18:01.240 --> 0:18:05.040 was not. I think a couple of big takeaways. Number One, uh, 0:18:05.520 --> 0:18:10.960 candidates who keep talking incessantly about the election being stolen 0:18:11.040 --> 0:18:13.879 or rigged, I didn't do well. I think the voters 0:18:13.880 --> 0:18:16.159 are sick of that, they want to move on. And 0:18:16.200 --> 0:18:20.600 I think secondly, more moderate candidates did quite well. Look 0:18:20.600 --> 0:18:23.439 at New Hampshire for example. So to me, it was 0:18:23.480 --> 0:18:26.240 an encouraging result to see the country moved to a 0:18:26.280 --> 0:18:32.000 more moderate, less conspiratorial climate. Of course, the biggest potential 0:18:32.040 --> 0:18:36.280 candidate who's been talking about the election being rigged is 0:18:36.800 --> 0:18:40.240 former President Donald Trump, who was already teased an announcement 0:18:40.359 --> 0:18:44.520 next week. What's your take on that? Where are we 0:18:44.560 --> 0:18:48.920 going when it comes to presidential race? I think we're 0:18:48.920 --> 0:18:51.040 going to look back on this election a year or 0:18:51.080 --> 0:18:54.120 two from now and recognized that this was a real 0:18:54.200 --> 0:18:58.320 turning point for both Trump and Biden. For Biden, many 0:18:58.359 --> 0:19:01.800 Democrats won this it uhim not because of him. Many 0:19:01.840 --> 0:19:06.199 Democrats won by running away from Biden. For Trump, I 0:19:06.240 --> 0:19:11.120 think this sort of solidifies his image within the Republican 0:19:11.160 --> 0:19:14.760 Party that he could be an albatross. He could be 0:19:14.800 --> 0:19:18.400 a noisy distraction for Republicans who would like to move 0:19:18.480 --> 0:19:22.640 on to New Canadas. Like Rondo Santis real quick sat 0:19:22.680 --> 0:19:25.120 in seconds here do you think Trump still announces next week. 0:19:26.040 --> 0:19:27.840 I think so, but it's now up in the air. 0:19:28.359 --> 0:19:30.760 If he announces, I think the country and the party 0:19:30.760 --> 0:19:33.040 could get sick of him by the end of the winter. 0:19:33.920 --> 0:19:36.080 So great to get your thoughts this morning after Greg, 0:19:36.080 --> 0:19:38.919 thanks for this. Gregg Value, your chief US policy strategist 0:19:39.040 --> 0:19:42.760 at a GF Investments. Looking ahead to the market, open 0:19:43.200 --> 0:19:46.240 futures are pointed lower now, S ANDP futures down eighteen 0:19:46.280 --> 0:19:49.479 points down, futures down a hundred sixty nine. Nastack futures 0:19:49.480 --> 0:19:52.280 are lower by fifty three points, still losses of a 0:19:52.280 --> 0:19:55.240 half percent across the board. The futures contracts ten your 0:19:55.280 --> 0:19:57.680 treasury down four thirty seconds for a yield of four 0:19:57.720 --> 0:20:02.040 point one four percent. Much more our post election analysis 0:20:02.080 --> 0:20:08.280 and reaction straight ahead on Bloomberg Daybreak, Bloomberg eleventh, three 0:20:08.320 --> 0:20:11.320 oh Weather sunny, silly today, mid fifties for highs. Will 0:20:11.320 --> 0:20:13.880 be milder tomorrow, though with a high near sixty five. 0:20:14.440 --> 0:20:18.240 Rain for veterans day high near seventy. Our current temperature 0:20:18.320 --> 0:20:25.439 forty one degrees. Cridcasting live from the Bloomberg Interactive Broker 0:20:25.560 --> 0:20:29.240 Studio in New York. Bloomberg Living Freedom to Washington, d C. 0:20:29.440 --> 0:20:33.160 Bloomberg nine one to Boston, Bloomberg one oh six one 0:20:33.240 --> 0:20:36.720 to San Francisco, Bloomberg nine sixty to the country, Sirius 0:20:36.840 --> 0:20:39.479 XM Chanel one nine team and around the globe the 0:20:39.480 --> 0:20:43.359 Bloomberg Business app in Bloomberg Radio dot Com. This is 0:20:43.400 --> 0:20:51.720 Bloomberg Daybreak and it's five thirty on Wall Street. Good morning. 0:20:51.760 --> 0:20:54.960 I'm Nathan Hacker and I'm Karen Moscow. We are about 0:20:55.040 --> 0:20:57.640 four hours away from the open of US trading. Let's 0:20:57.680 --> 0:20:59.040 get you up to date on the news you need 0:20:59.080 --> 0:21:01.679 to know at this hour. Were Republicans made gains in 0:21:01.720 --> 0:21:04.720 the House this midterm election cycle, but it wasn't the 0:21:04.760 --> 0:21:07.600 red wave that some had predicted. Control of the Senate 0:21:07.640 --> 0:21:10.720 still hangs in the ballast. Democrats flipped a key Senate 0:21:10.840 --> 0:21:15.800 race in Pennsylvania, but Democrat John Fetterman defeating Republican Mendos 0:21:15.800 --> 0:21:19.399 has always been about fighting for everyone who's ever been lockdown, 0:21:22.720 --> 0:21:25.520 and Democrat John Fetterman, who has been recovering from a stroke, 0:21:25.600 --> 0:21:28.119 one with fifty point one percent of the vote. In Ohio, 0:21:28.200 --> 0:21:31.359 Karen Republican j d Vance defeated Democrat Tim Ryan for 0:21:31.359 --> 0:21:33.720 a Senate seat garnering fifty three percent of the vote. 0:21:33.800 --> 0:21:36.600 Democrat Maggie Hassan got fifty four percent to win New 0:21:36.640 --> 0:21:40.280 Hampshire Senate seat over Republican Don bal Duke. Meanwhile, Wisconsin 0:21:40.440 --> 0:21:43.280 is still too close to call. Republican Senator Ron Johnson 0:21:43.359 --> 0:21:46.480 leads Democratic challenger man Della Barnes with fifty point six 0:21:46.520 --> 0:21:48.920 percent of the vote. Well in New York, Nathan a 0:21:49.000 --> 0:21:51.800 Democrat Cathy Hokel won a tied race for governor, but 0:21:51.960 --> 0:21:54.720 just under fifty three percent of votes. You made me 0:21:55.680 --> 0:21:58.119 the third woman ever elected to be the governor of 0:21:58.119 --> 0:22:01.000 the state of New York, and he York Democrat at 0:22:01.000 --> 0:22:04.200 the Vocal defeated Republican Lee Zelden, who has so far 0:22:04.400 --> 0:22:07.880 not conceded the race. In Connecticut, Karen Democratic Governor Ned 0:22:07.920 --> 0:22:10.360 Lamont won fifty five percent of votes to beat Republican 0:22:10.359 --> 0:22:14.280 Bob Stefanowski. US Democratic Senator Richard Blumenthal beat Republican le 0:22:14.440 --> 0:22:16.840 Or Levy with fifty six percent of votes, and a 0:22:16.960 --> 0:22:19.240 parent governors who have eyes on the White House were 0:22:19.320 --> 0:22:23.439 victorious last night. Nathan Republican Rhonda Santis defeated Democrat Charlie 0:22:23.520 --> 0:22:27.280 christ In Florida, I am honored by your support and 0:22:27.359 --> 0:22:30.920 I look forward to the road ahead. Florida Governor Rhonda 0:22:31.000 --> 0:22:34.680 Santis one after securing sixty percent of votes. Meantime, in California, 0:22:34.760 --> 0:22:38.639 Governor Gavin Newsom handily beat Republican challenger Brian and Dolly 0:22:38.920 --> 0:22:41.920 garnering fifty eight percent of votes. Democrats pulled out wins 0:22:41.920 --> 0:22:44.520 in some other races. For governor Karen Democrat Greshen Whitmer 0:22:44.600 --> 0:22:47.760 defeated Republican Tutor Dixon in Michigan with fifty three percent 0:22:47.760 --> 0:22:51.320 of votes. In Pennsylvania, Democrat Josh Shapiro beat Republican Doug 0:22:51.359 --> 0:22:55.200 Maastriana with fifty five percent, and Wisconsin Democratic Governor Tony 0:22:55.240 --> 0:22:59.040 Evers won over Republican Tim Michael's garneringcent of the vote. 0:22:59.280 --> 0:23:02.080 And again, governors races yet to be decided In Arizona 0:23:02.200 --> 0:23:05.040 Nathan Democrat Katie Hobbs so far ley it's Trump back 0:23:05.080 --> 0:23:08.640 Republican Kerry Lake. The tally there is fifty one percent 0:23:08.720 --> 0:23:11.320 to forty eight point seven, and in the interest of 0:23:11.320 --> 0:23:14.480 transparency caring, we should not. Michael R. Bloomberg, majority owner 0:23:14.480 --> 0:23:17.520 of Bloomberg Radio parent company Bloomberg LP, was a major 0:23:17.600 --> 0:23:21.399 donor to democratic candidates this election cycle, and Future is 0:23:21.440 --> 0:23:25.040 this morning lower s andp. Future is down seventeen points down, 0:23:25.040 --> 0:23:28.440 Futures down a hundred sixty three. NASDAG features down fifty 0:23:28.480 --> 0:23:32.000 straight ahead, your latest local headlines, plus a check of sports, 0:23:32.080 --> 0:23:39.239 and this is Bloomberg, Thanks Caring. It's five thirty three 0:23:39.240 --> 0:23:41.960