1 00:00:02,840 --> 00:00:06,199 Speaker 1: Live from the Bloomberg Interacted Brooker Studios. This is Bloomberg 2 00:00:06,280 --> 00:00:09,959 Speaker 1: day Break for 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 00:00:12,840 --> 00:00:16,239 Speaker 1: and Senate at stake. Racist in Georgia and Pennsylvania could 5 00:00:16,280 --> 00:00:18,840 Speaker 1: be key. We're also watching a close contest for New 6 00:00:18,920 --> 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 --> 00:00:28,080 Speaker 1: I'll speaker Nancy Pelosi speaks for the first time about 9 00:00:28,120 --> 00:00:30,880 Speaker 1: the attack on her husband. Plus a technical issue has 10 00:00:30,920 --> 00:00:34,159 Speaker 1: to lay the powerball drawing. I'm Michael Barr. More ahead, 11 00:00:34,320 --> 00:00:37,120 Speaker 1: I'm John Stash. In 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 --> 00:00:47,240 Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg eleven, Treo, 14 00:00:47,360 --> 00:00:51,599 Speaker 1: New York, Bloomberg N one, Washington, d C, Bloomberg one 15 00:00:51,640 --> 00:00:56,320 Speaker 1: oh six one, Boston, Bloomberg nine St. Francisco, Sirius x 16 00:00:56,440 --> 00:00:59,920 Speaker 1: M one nineteen and around the world on Bloomberg Radio 17 00:01:00,000 --> 00:01:08,279 Speaker 1: to come and via the Bloomberg Business Sad. Good morning. 18 00:01:08,280 --> 00:01:11,440 Speaker 1: I'm Nathan Hagar and I'm Karen Moscow and US stock 19 00:01:11,480 --> 00:01:14,440 Speaker 1: index futures are higher this morning. We are coming up 20 00:01:14,440 --> 00:01:16,040 Speaker 1: to five oh one on Wall Street. I mean check 21 00:01:16,080 --> 00:01:19,160 Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg, 22 00:01:19,560 --> 00:01:22,119 Speaker 1: SNP Future is up six points this morning. Down Future 23 00:01:22,200 --> 00:01:24,759 Speaker 1: is up fifty four. Nasdack Future is up thirty nine. 24 00:01:25,040 --> 00:01:27,440 Speaker 1: The decks in Germany's up two tenths of a percent. 25 00:01:27,760 --> 00:01:30,400 Speaker 1: Ten year treasury of four thirty seconds yield four point 26 00:01:30,400 --> 00:01:32,560 Speaker 1: one nine percent, and they yield on the two year 27 00:01:32,680 --> 00:01:36,240 Speaker 1: four point seven zero percent. Nine Max scret oil is 28 00:01:36,280 --> 00:01:38,200 Speaker 1: down one point one percent on a dollar two and 29 00:01:38,280 --> 00:01:41,640 Speaker 1: ninety seventy seven cents of barrel. Nathan Karen, We will 30 00:01:41,640 --> 00:01:43,679 Speaker 1: have more on markets in a minute, but first, this 31 00:01:43,880 --> 00:01:46,480 Speaker 1: is election day. Control of the Senate hangs in the 32 00:01:46,520 --> 00:01:49,360 Speaker 1: balance as candidates make their final hour pushes for votes. 33 00:01:49,560 --> 00:01:52,280 Speaker 1: They're tight races shaping up in at least three states. 34 00:01:52,520 --> 00:01:56,559 Speaker 1: Amy Morris has the latest from our Bloomberg newsroom in Washington. 35 00:01:57,120 --> 00:02:00,080 Speaker 1: In Pennsylvania, the Senate race between Democrat John Federal and 36 00:02:00,240 --> 00:02:02,960 Speaker 1: Republican memod Oz is neck and net. That will bring 37 00:02:03,080 --> 00:02:05,760 Speaker 1: change to Washington, so they treat us the way we 38 00:02:05,840 --> 00:02:08,639 Speaker 1: deserve and I'm gonna meet every one of you to 39 00:02:08,840 --> 00:02:11,800 Speaker 1: go out, get your friends, get your families all ready 40 00:02:11,800 --> 00:02:13,880 Speaker 1: to vote. And Georgia, a record two and a half 41 00:02:13,919 --> 00:02:17,600 Speaker 1: billion votes are already cast. Republican challenger Herschel Walker in 42 00:02:17,639 --> 00:02:21,280 Speaker 1: a dead heat with incumbent Democratic Senator Raphael Warnuts. I'll 43 00:02:21,280 --> 00:02:24,080 Speaker 1: show up for you for six more years. You got 44 00:02:24,200 --> 00:02:27,840 Speaker 1: a vote with something. If no candidate gets more than 45 00:02:27,840 --> 00:02:29,680 Speaker 1: fifty of the vote, he could head to a run 46 00:02:29,720 --> 00:02:32,440 Speaker 1: off in December. Be ready for days of counting ballots. 47 00:02:32,480 --> 00:02:35,480 Speaker 1: In Arizona with a race four senator between incumbent Democrat 48 00:02:35,560 --> 00:02:38,639 Speaker 1: Mark Kelly and Republican Blake Masters, and the goober nottorial 49 00:02:38,720 --> 00:02:42,639 Speaker 1: contest between Republican Kerry Lake and Democrat Katie Hobbs are 50 00:02:42,720 --> 00:02:45,720 Speaker 1: so tight posters expect those results to come down to 51 00:02:45,800 --> 00:02:48,760 Speaker 1: just a few thousand votes. In Washington, I'm Amy Morris, 52 00:02:48,760 --> 00:02:51,400 Speaker 1: Bloomberg Daybreak, All right, Aman Banks. So there are several 53 00:02:51,480 --> 00:02:54,560 Speaker 1: key races for governor across the country, including a closely 54 00:02:54,639 --> 00:02:57,120 Speaker 1: watched one in New York and bloomberg S Michael Barr 55 00:02:57,200 --> 00:03:00,720 Speaker 1: joins US Live with the latest, Michael, good Morning, And 56 00:03:00,919 --> 00:03:03,760 Speaker 1: the race for governor was once considered an easy win 57 00:03:03,919 --> 00:03:08,000 Speaker 1: for incumbent Democratic Governor Kathy Hokel. However, Republican Lee Zelden 58 00:03:08,080 --> 00:03:10,000 Speaker 1: made up ground in the polls to make it a 59 00:03:10,080 --> 00:03:13,880 Speaker 1: tight race. Both candidates made their final push to voters. 60 00:03:14,000 --> 00:03:19,320 Speaker 1: Governor Hokel campaign in Manhattan. I always run like I'm 61 00:03:19,360 --> 00:03:22,119 Speaker 1: the underdog. Makes me work harder. That's what we're gonna 62 00:03:22,880 --> 00:03:26,000 Speaker 1: Pocill also campaign last night in her hometown of Buffalo. 63 00:03:26,440 --> 00:03:30,440 Speaker 1: Both candidates need votes not just from Independence or Republicans, 64 00:03:30,440 --> 00:03:34,360 Speaker 1: but Democrats as well, something Zelden knows. It wasn't until 65 00:03:34,440 --> 00:03:37,440 Speaker 1: New Yorkers United in early nineties that they decided that 66 00:03:37,480 --> 00:03:40,880 Speaker 1: they were going to take back our streets. Zelden campaign 67 00:03:40,960 --> 00:03:42,960 Speaker 1: at the scene of a subway stabbing in New York 68 00:03:42,960 --> 00:03:45,720 Speaker 1: City and is pushed to fight crime in New York 69 00:03:45,840 --> 00:03:49,160 Speaker 1: Michael Barr, Bloomberg Radio, Nathan Michael thank you. Voters are 70 00:03:49,160 --> 00:03:52,080 Speaker 1: also weighing at least sixty six billion dollars of state 71 00:03:52,120 --> 00:03:54,840 Speaker 1: in local bond measures today to finance projects like new 72 00:03:54,880 --> 00:03:58,000 Speaker 1: schools and climate resiliency efforts. We get that story from 73 00:03:58,000 --> 00:04:02,760 Speaker 1: Bloomberg's Charlie Pellett. The proposed borrowing is more than double 74 00:04:02,960 --> 00:04:06,400 Speaker 1: the twenty seven billion dollars on ballots of this time 75 00:04:06,520 --> 00:04:09,840 Speaker 1: last year, and among the highest volume of bonds up 76 00:04:09,840 --> 00:04:12,280 Speaker 1: for a vote since at least two thousand nine. This 77 00:04:12,400 --> 00:04:16,240 Speaker 1: according to a Bloomberg analysis of a preliminary tally of 78 00:04:16,279 --> 00:04:20,400 Speaker 1: bond measures compiled by I h S Market. The increase 79 00:04:20,480 --> 00:04:23,320 Speaker 1: comes of states and cities have been collecting better than 80 00:04:23,400 --> 00:04:26,440 Speaker 1: expected revenue in the last fiscal year, shoring up the 81 00:04:26,480 --> 00:04:30,520 Speaker 1: budgets after a period of financial uncertainty at the onset 82 00:04:30,640 --> 00:04:35,080 Speaker 1: of the coronavirus pandemic in New York. Charlie Pellett Bloomberg 83 00:04:35,160 --> 00:04:37,839 Speaker 1: day Break Right, Charley, thank you. While Americans head to 84 00:04:37,839 --> 00:04:40,640 Speaker 1: the polls, Donald Trump is ramping up hints that he'll 85 00:04:40,680 --> 00:04:43,600 Speaker 1: run for the White House in four The former president 86 00:04:43,600 --> 00:04:45,960 Speaker 1: all but confirmed the move at a rally last night 87 00:04:45,960 --> 00:04:51,000 Speaker 1: in Dayton, Ohio. I'm going to be making a very 88 00:04:51,040 --> 00:04:58,400 Speaker 1: big announcement on Tuesday, November at Bar Lago in Palm Beach, Florida. 89 00:05:01,000 --> 00:05:03,880 Speaker 1: Former President Trump has been teasing a run for months. 90 00:05:03,920 --> 00:05:06,279 Speaker 1: Advisors have long urged him to hold off on an 91 00:05:06,320 --> 00:05:09,000 Speaker 1: announcement until after the mid terms. All right, Karen, Now, 92 00:05:09,080 --> 00:05:11,560 Speaker 1: let's take a look at some news outside today's elections. 93 00:05:11,600 --> 00:05:14,880 Speaker 1: Beginning in Europe as the war between Russia and Ukraine 94 00:05:14,960 --> 00:05:18,600 Speaker 1: rages on, sanctions continue piling up on Moscow. But now 95 00:05:18,640 --> 00:05:20,919 Speaker 1: Bloomberg News has learned the White House wants banks like 96 00:05:21,000 --> 00:05:23,680 Speaker 1: JP Morgan and City Group to keep doing business with 97 00:05:23,839 --> 00:05:26,720 Speaker 1: some strategic Russian firms. We're told it's part of a 98 00:05:26,800 --> 00:05:29,160 Speaker 1: behind the scenes effort to limit the adverse impact of 99 00:05:29,200 --> 00:05:31,960 Speaker 1: Russian sanctions on the global economy, even as some in 100 00:05:32,000 --> 00:05:35,080 Speaker 1: Congress found the table for stronger steps well on well 101 00:05:35,160 --> 00:05:37,880 Speaker 1: straight Nathan stocks have rallied for two straight days ahead 102 00:05:37,880 --> 00:05:40,320 Speaker 1: of the mid terms. Mark and Stanley's Mike Wilson says 103 00:05:40,360 --> 00:05:43,080 Speaker 1: polls that show Republicans claiming at least one chamber of 104 00:05:43,160 --> 00:05:46,680 Speaker 1: Congress could provide a catalyst for equities. We're getting close 105 00:05:46,720 --> 00:05:48,360 Speaker 1: to the end of the bear market. We're not there yet, 106 00:05:48,400 --> 00:05:49,880 Speaker 1: but you know, what you want to what you want 107 00:05:49,880 --> 00:05:52,599 Speaker 1: to try and figure out is what outperforms in the 108 00:05:52,680 --> 00:05:55,480 Speaker 1: last leg down, because that will tell you what's going 109 00:05:55,520 --> 00:05:57,760 Speaker 1: to outperform in the next leg up eventually when we 110 00:05:57,760 --> 00:06:00,359 Speaker 1: get there, and that's been industrial financials and some of 111 00:06:00,360 --> 00:06:03,839 Speaker 1: the commodity complex and Morgan Stanleys Mike Wilson says companies 112 00:06:03,880 --> 00:06:06,400 Speaker 1: will need to bring down expenses before he becomes more 113 00:06:06,440 --> 00:06:09,680 Speaker 1: optimistic on equities. Another key market for the event for 114 00:06:09,720 --> 00:06:11,720 Speaker 1: the Market's Karen comes on Thursday, when we get a 115 00:06:11,760 --> 00:06:15,560 Speaker 1: reading on consumer prices. Richmond FED President Thomas Barkin says 116 00:06:15,600 --> 00:06:18,200 Speaker 1: the Central Bank will persist in efforts to bring inflation 117 00:06:18,279 --> 00:06:21,760 Speaker 1: under control. Inflation should come down, but don't expect it's 118 00:06:21,800 --> 00:06:25,080 Speaker 1: drop to be immediate or predictable. We've been through multiple shocks, 119 00:06:25,080 --> 00:06:28,839 Speaker 1: as I discussed, and significant shocks simply take time to dampen. 120 00:06:29,200 --> 00:06:32,040 Speaker 1: Richmond FED President Thomas Barkin says one key lesson from 121 00:06:32,040 --> 00:06:36,400 Speaker 1: inflation in the seventies is not to declare victory premature late. Well, Nathan, 122 00:06:36,440 --> 00:06:39,240 Speaker 1: we turn our attention to the big climate change summit 123 00:06:39,279 --> 00:06:41,880 Speaker 1: in Egypt. Now, the World Bank has announced the Climate 124 00:06:41,920 --> 00:06:44,320 Speaker 1: Trust Fund for poorer countries, and we got up to 125 00:06:44,360 --> 00:06:47,120 Speaker 1: the President of the World Bank, David moult Pass. The 126 00:06:47,200 --> 00:06:49,960 Speaker 1: war in ukramed, but also the giant amounts of government 127 00:06:50,080 --> 00:06:53,320 Speaker 1: spending that we're done on covid UH and so that 128 00:06:53,320 --> 00:06:56,520 Speaker 1: that is putting upward pressure on prices around the world, 129 00:06:56,680 --> 00:06:59,960 Speaker 1: and that hits the poorest the hardest. World Bank President 130 00:07:00,080 --> 00:07:03,200 Speaker 1: David Malpass spoke with Bloomberg at the COP seven summit 131 00:07:03,240 --> 00:07:06,120 Speaker 1: in Egypt. Catch more of that conversation coming up later 132 00:07:06,279 --> 00:07:09,960 Speaker 1: in our program. Futures are higher with SMP futures of 133 00:07:10,080 --> 00:07:12,920 Speaker 1: eleven points this morning, down futures of eighty one, NASDAG 134 00:07:13,000 --> 00:07:16,320 Speaker 1: futures of fifties six straight. I had your latest local headlines, 135 00:07:16,360 --> 00:07:23,400 Speaker 1: plus a check of sports, and this is Bloomberg. Thanks 136 00:07:23,440 --> 00:07:25,920 Speaker 1: pared five oh seven on Wall Street forty degrees in 137 00:07:25,960 --> 00:07:28,920 Speaker 1: Central Park. Got a car fire Southount Garden State Parkway, 138 00:07:28,920 --> 00:07:32,520 Speaker 1: egs at more coming up in traffic First. Michael Barr 139 00:07:32,640 --> 00:07:34,520 Speaker 1: is back with more on what's going on in New 140 00:07:34,600 --> 00:07:37,560 Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan. 141 00:07:37,560 --> 00:07:40,320 Speaker 1: There are other races being watched in the Tri state 142 00:07:40,360 --> 00:07:44,040 Speaker 1: area as well. In Connecticut, Democratic Governor Ed Lamont is 143 00:07:44,080 --> 00:07:48,600 Speaker 1: up against Republican challenger Robert Stefanowski. LaMotte spoke earlier with 144 00:07:48,680 --> 00:07:51,440 Speaker 1: Bloomberg about the issues in the campaign. I think the 145 00:07:51,480 --> 00:07:56,360 Speaker 1: economy front and center. Uh. Here in Connecticut, we've been 146 00:07:56,400 --> 00:07:58,960 Speaker 1: flat as a pancake for thirty years. We hadn't added 147 00:07:59,000 --> 00:08:01,680 Speaker 1: a new job in two years. Uh, and we were 148 00:08:01,680 --> 00:08:04,640 Speaker 1: going from physical crisis to fiscal crisis. It was a 149 00:08:04,640 --> 00:08:08,800 Speaker 1: pretty lousy story and the last you know, four or 150 00:08:08,800 --> 00:08:11,600 Speaker 1: five years were beginning to turn things around. In the 151 00:08:11,680 --> 00:08:15,000 Speaker 1: U S. Senate, Democrat Richard blymhal is up against Republican 152 00:08:15,080 --> 00:08:18,600 Speaker 1: Leora Levy. How Speaker Nancy Pelosi said the attack on 153 00:08:18,600 --> 00:08:21,120 Speaker 1: her husband Paul would be a factor in deciding your 154 00:08:21,120 --> 00:08:25,320 Speaker 1: political future and expressed dismay that Donald Trump and others, 155 00:08:25,320 --> 00:08:29,040 Speaker 1: including Elon Musk, had cast down on the attack. Pelosi 156 00:08:29,160 --> 00:08:32,000 Speaker 1: told CNN last night, you see what the reaction is 157 00:08:32,040 --> 00:08:34,320 Speaker 1: on the other side to this, to make a joke 158 00:08:34,400 --> 00:08:38,160 Speaker 1: of it, and really that is traumatizing too. U S. 159 00:08:38,160 --> 00:08:41,600 Speaker 1: Supreme Court justices have signaled they may open new avenues 160 00:08:41,800 --> 00:08:44,680 Speaker 1: that could weaken the cloud of the Securities and Exchange 161 00:08:44,679 --> 00:08:48,800 Speaker 1: Commission and Federal Trade Commission. Bloomberg said maxter as the story. 162 00:08:49,120 --> 00:08:52,800 Speaker 1: The justices are considering cases regarding claims going directly to 163 00:08:52,880 --> 00:08:57,160 Speaker 1: federal court. The two regulatory agencies have been very busy. 164 00:08:57,240 --> 00:09:00,079 Speaker 1: The SEC file more than seven hundred and forced my 165 00:09:00,200 --> 00:09:03,120 Speaker 1: actions in the flash fiscal year and one judgments and 166 00:09:03,320 --> 00:09:07,280 Speaker 1: orders worth six point four billion dollars. The FTC is 167 00:09:07,280 --> 00:09:11,079 Speaker 1: seeking to break up meta platforms and investigating Amazon, among 168 00:09:11,120 --> 00:09:15,160 Speaker 1: other initiatives. Returned two point four billion of consumers last year. 169 00:09:15,640 --> 00:09:18,400 Speaker 1: It is a conservative court and it could decide the 170 00:09:18,480 --> 00:09:22,840 Speaker 1: question of the value of regulation visa v. More free commerce. 171 00:09:23,200 --> 00:09:26,199 Speaker 1: In San Francisco, I'm at Baxter, Bloomberg Gay Break. The 172 00:09:26,320 --> 00:09:29,280 Speaker 1: Multi State Laundry Association sat in the statement that the 173 00:09:29,360 --> 00:09:33,240 Speaker 1: powerball drawing was delayed last nine and the official results 174 00:09:33,280 --> 00:09:36,040 Speaker 1: won't be known until later. The record breaking one point 175 00:09:36,160 --> 00:09:40,319 Speaker 1: nine billion dollar powerball drawing was delayed because of participating 176 00:09:40,480 --> 00:09:44,959 Speaker 1: lottery had issues processing sales. Global News twenty four hours 177 00:09:44,960 --> 00:09:48,079 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 178 00:09:48,080 --> 00:09:52,000 Speaker 1: more than journalist analysts and more than a hundred twenty countries. 179 00:09:52,000 --> 00:09:54,360 Speaker 1: I'm Minchael bar this is Bloomberg Naven. All right, Michael, 180 00:09:54,400 --> 00:10:01,240 Speaker 1: Thanks five oh nine All Street time for the Bloomberg 181 00:10:01,240 --> 00:10:04,320 Speaker 1: Sports Day. Prosy by Tri State Autie. Good morning, John Stashi, 182 00:10:04,440 --> 00:10:06,960 Speaker 1: Good morning, Nathan Busy. Night of Basketball Open the Night 183 00:10:07,000 --> 00:10:11,120 Speaker 1: in the College gave the entire preseason top twenty five played. 184 00:10:11,280 --> 00:10:13,880 Speaker 1: They all won, including Duke and new coach John Shire 185 00:10:13,960 --> 00:10:17,040 Speaker 1: Villanova for new coach Kyle Neptune. They replaced the Hall 186 00:10:17,080 --> 00:10:19,280 Speaker 1: of Fame coaches Mike and Chefft and Jay Right st 187 00:10:19,360 --> 00:10:22,600 Speaker 1: John's one its opener by twenty five over Mary Mack. Also, 188 00:10:22,760 --> 00:10:25,839 Speaker 1: fifteen NBA games were the message at all of them 189 00:10:25,880 --> 00:10:28,080 Speaker 1: to a mind fans to vote. That's why the NBA 190 00:10:28,120 --> 00:10:31,720 Speaker 1: will not play any games tonight. Nixon Minnesota scored seventy 191 00:10:31,760 --> 00:10:34,480 Speaker 1: six points in the first half and one one oh 192 00:10:34,480 --> 00:10:37,040 Speaker 1: seven thirty one point for Julius Randall. He made eight 193 00:10:37,080 --> 00:10:40,400 Speaker 1: three pointers. The Nets lost in Dallas nineties ninety four. 194 00:10:40,679 --> 00:10:43,000 Speaker 1: Luke dons it's thirty six points of the mass Kevin 195 00:10:43,040 --> 00:10:46,280 Speaker 1: Duran twenty six for Brooklyn. Milwaukee lost for the first 196 00:10:46,280 --> 00:10:48,959 Speaker 1: time Cleveland for just a second time. The Lakers lost 197 00:10:49,240 --> 00:10:51,880 Speaker 1: by twenty three at Utah. The Lakers are two and eight. 198 00:10:52,120 --> 00:10:54,680 Speaker 1: The Jazz traded their two best players in the off season, 199 00:10:54,760 --> 00:10:57,920 Speaker 1: yet they are a surprising nine and three. Islanders made 200 00:10:57,920 --> 00:10:59,720 Speaker 1: it five of their last six. They beat Calgary four 201 00:10:59,760 --> 00:11:02,840 Speaker 1: three over Time Well the Night Football Ravens and St. 202 00:11:02,920 --> 00:11:05,439 Speaker 1: Jackson's chief of fights in the right looking to owe 203 00:11:05,480 --> 00:11:10,040 Speaker 1: now he loves a time. Kenny town Man Towns, I 204 00:11:10,280 --> 00:11:13,800 Speaker 1: JA unlikely look behind of the secondary. I have the 205 00:11:14,040 --> 00:11:16,920 Speaker 1: ravings trink first in New Orleans, j l The Call 206 00:11:17,080 --> 00:11:19,520 Speaker 1: Ravens went on to win twenties seven to thirteen. They 207 00:11:19,559 --> 00:11:22,000 Speaker 1: stay in first place. AFC North at six and three. 208 00:11:22,000 --> 00:11:24,439 Speaker 1: The Colt sevenly three wins, and they fired coach Frank 209 00:11:24,480 --> 00:11:28,400 Speaker 1: Reich replaced them with former Indianapolis center Jeff Saturday. He 210 00:11:28,520 --> 00:11:33,120 Speaker 1: has no previous NFL coaching experience. Giants Safety's Davier McKinney, 211 00:11:33,160 --> 00:11:36,080 Speaker 1: one of their top defensive players, spent his bye week, 212 00:11:36,120 --> 00:11:38,720 Speaker 1: and Cabo hurt his hand in an a TV accident. 213 00:11:38,760 --> 00:11:42,839 Speaker 1: He'll miss a month. John Stash Doward, Bloomberg Sports, Nathan Okay, John, Thanks. 214 00:11:42,840 --> 00:11:45,320 Speaker 1: On this election day, futures are pointing at touch higher. 215 00:11:45,400 --> 00:11:48,360 Speaker 1: SMP futures are up ten points down, futures up seventy five, 216 00:11:48,800 --> 00:11:51,840 Speaker 1: NASTAC futures up fifty four points ten. Your treasuries up 217 00:11:51,840 --> 00:11:55,080 Speaker 1: four thirty seconds, the yield four point one nine percent. 218 00:11:55,080 --> 00:11:57,440 Speaker 1: We'll look at what's at stake for markets on this 219 00:11:57,480 --> 00:12:01,880 Speaker 1: election day. Terry Haynes, founder of GIA Policy, joins us. Next, 220 00:12:02,040 --> 00:12:09,120 Speaker 1: this is Bloomberg. Bloomberg Sports is brought to you by Audie. 221 00:12:09,120 --> 00:12:11,080 Speaker 1: Don't let someone else drive off in the outie model. 222 00:12:11,120 --> 00:12:13,360 Speaker 1: You've always wanted to visit your local price state autie 223 00:12:13,360 --> 00:12:15,120 Speaker 1: dealer to get behind the wheel of yours today, or 224 00:12:15,280 --> 00:12:23,440 Speaker 1: visit autie Offers dot com for more information, markets, headlines 225 00:12:23,480 --> 00:12:26,439 Speaker 1: and breaking news twenty four hours a day at Bloomberg 226 00:12:26,520 --> 00:12:29,840 Speaker 1: dot com, The Bloomberg Business at and at Bloomberg Quicktake, 227 00:12:30,120 --> 00:12:39,000 Speaker 1: This is a Bloomberg Business lash and I'm Karin Moscow. 228 00:12:39,120 --> 00:12:42,280 Speaker 1: US Dock Index futures are steady as investors await the 229 00:12:42,400 --> 00:12:45,760 Speaker 1: results of today's midterms as well as Thursday's inflation report. 230 00:12:45,800 --> 00:12:48,360 Speaker 1: And we checked the markets every fifteen minutes throughout the 231 00:12:48,360 --> 00:12:52,040 Speaker 1: trading day on Bloomberg Guess and P futures. Everybody points down. 232 00:12:52,040 --> 00:12:55,160 Speaker 1: Future is of sixty two nasday futures of fifty. The 233 00:12:55,240 --> 00:12:57,920 Speaker 1: decks in Germany's up three tenths of a per cent ten, 234 00:12:58,000 --> 00:13:00,240 Speaker 1: your treasury of four thirty seconds, you have four point 235 00:13:00,240 --> 00:13:02,199 Speaker 1: one nine percent, and the yield on the two year 236 00:13:02,280 --> 00:13:05,920 Speaker 1: four point seven zero percent. NIMEX Screwed oil is down 237 00:13:05,960 --> 00:13:08,080 Speaker 1: one point one percent on ninety six cents at ninety 238 00:13:08,440 --> 00:13:11,080 Speaker 1: eighty four cents of barrel comes go down four tenths 239 00:13:11,080 --> 00:13:13,959 Speaker 1: percent or six dollars ninety cents at sixteen seventy three 240 00:13:14,000 --> 00:13:18,640 Speaker 1: fifty announced. The euro point against the dollar, the British 241 00:13:18,640 --> 00:13:21,240 Speaker 1: pound one point one four seven nine a yen one 242 00:13:21,320 --> 00:13:24,640 Speaker 1: forty six point to five and bitcoin is down four 243 00:13:24,679 --> 00:13:28,079 Speaker 1: point four percent and nineteen thousand, seven hundred seventy dollars 244 00:13:28,400 --> 00:13:31,040 Speaker 1: Watching shares have Take two Interactive Software down more than 245 00:13:31,160 --> 00:13:34,000 Speaker 1: eighteen percent this morning after it reduced its forecast for 246 00:13:34,080 --> 00:13:36,880 Speaker 1: net bookings, and while Disney is among companies schedule to 247 00:13:36,960 --> 00:13:40,120 Speaker 1: report earnings today, that's a Bloomberg business flash. Now here's 248 00:13:40,160 --> 00:13:42,920 Speaker 1: Michael Barr with more on what's going on around the world. Michael, 249 00:13:42,920 --> 00:13:46,240 Speaker 1: good morning, Good morning Karen. It is election day. The 250 00:13:46,320 --> 00:13:49,280 Speaker 1: nation has its eye on several key races that could 251 00:13:49,320 --> 00:13:52,640 Speaker 1: change the balance. In Washington, thirty five Senate seats are 252 00:13:52,679 --> 00:13:56,319 Speaker 1: on the ballot. Former President Trump, speaking in Dayton, Ohio, 253 00:13:56,520 --> 00:13:59,160 Speaker 1: says he will make a big announcement on November fifteen. 254 00:13:59,240 --> 00:14:02,120 Speaker 1: That is moral go a state Trump had been teasing 255 00:14:02,120 --> 00:14:05,080 Speaker 1: for months Heed to run again me While President Biden 256 00:14:05,120 --> 00:14:09,840 Speaker 1: traveled campaign in Maryland, Biden acknowledged Democrats face a tougher 257 00:14:09,960 --> 00:14:13,040 Speaker 1: challenge holding the House than the Senate. In the NBA 258 00:14:13,200 --> 00:14:16,000 Speaker 1: the next one, the Nets lost the Celtics, Wizards and 259 00:14:16,040 --> 00:14:19,640 Speaker 1: Warriors all one. NHL, the Islanders one in ot against 260 00:14:19,640 --> 00:14:22,680 Speaker 1: the Flames for three. The Bruins and Capitals one in 261 00:14:22,760 --> 00:14:27,800 Speaker 1: Monday Night Football, the Ravens beat the Saints twenty seven globally, 262 00:14:28,080 --> 00:14:31,480 Speaker 1: twenty four hours a day on air and on Bloomberg Quickdake, 263 00:14:31,680 --> 00:14:34,480 Speaker 1: powered by more than twenty seven hundred journalists and analysts 264 00:14:34,480 --> 00:14:37,640 Speaker 1: more than twenty countries. Michael barn This is Bloomberg, Nathan. 265 00:14:37,680 --> 00:14:39,840 Speaker 1: Thanks Michael, five nineteen on Wall Street Line from the 266 00:14:39,840 --> 00:14:43,120 Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak on this 267 00:14:43,240 --> 00:14:45,800 Speaker 1: election day. We're joined by Terry Haynes, the founder of 268 00:14:45,800 --> 00:14:48,040 Speaker 1: Pangia Policy, to take a look at where things could 269 00:14:48,080 --> 00:14:51,040 Speaker 1: shake out after tonight. Terry, good morning. As we just 270 00:14:51,120 --> 00:14:53,440 Speaker 1: heard from Michael bar there and the news, President Biden 271 00:14:53,600 --> 00:14:56,320 Speaker 1: is acknowledging it's gonna be tough for Democrats to hold 272 00:14:56,320 --> 00:15:00,840 Speaker 1: onto the House. So what's your final forecast? U, Good morning, Nathan. 273 00:15:01,440 --> 00:15:05,880 Speaker 1: I've you know, I've find myself usually pushing back against 274 00:15:06,560 --> 00:15:09,840 Speaker 1: UH in elections, against the kind of huge red wave, 275 00:15:09,920 --> 00:15:13,560 Speaker 1: huge blue wave stories that the swampas every two years, 276 00:15:13,640 --> 00:15:18,800 Speaker 1: I find myself uncomfortably consensus. This year, I think i'm 277 00:15:18,840 --> 00:15:22,480 Speaker 1: I'm I'm about six UH that we have an all 278 00:15:22,560 --> 00:15:26,480 Speaker 1: Republican majority Congress. But but I think very small majorities 279 00:15:27,920 --> 00:15:30,280 Speaker 1: likely to result in a split Congress, which would be 280 00:15:30,320 --> 00:15:34,960 Speaker 1: a Democratic Senate Republican House, and only ten percent likely 281 00:15:35,000 --> 00:15:38,440 Speaker 1: to maintain the all Democratic House. What I've been cautioning 282 00:15:38,880 --> 00:15:41,640 Speaker 1: markets is a couple of things. One is that you 283 00:15:41,640 --> 00:15:44,960 Speaker 1: shouldn't expect a definitive result for days. Uh. You know, 284 00:15:45,040 --> 00:15:47,440 Speaker 1: the market seemed poised to kind of want to break 285 00:15:47,440 --> 00:15:50,040 Speaker 1: out on the upside on some news, and they're not 286 00:15:50,040 --> 00:15:53,400 Speaker 1: going to get that news for a while. Uh. Secondly, 287 00:15:53,440 --> 00:15:57,160 Speaker 1: I think that what we have here is uh no 288 00:15:57,440 --> 00:16:01,320 Speaker 1: control of media. No sense I'd like to say that 289 00:16:02,000 --> 00:16:04,760 Speaker 1: one party another control Congress, when in fact is you 290 00:16:04,800 --> 00:16:08,320 Speaker 1: and I have discussed a lot. Uh. These parties are 291 00:16:08,320 --> 00:16:11,120 Speaker 1: really coalitions of different people, and they find it very 292 00:16:11,120 --> 00:16:15,200 Speaker 1: difficult to cobble themselves around particular policies that will continue 293 00:16:15,520 --> 00:16:20,080 Speaker 1: with Republicans. So, uh, the reality of policy change won't 294 00:16:20,480 --> 00:16:23,400 Speaker 1: won't quite match whatever the election results are. Well, what 295 00:16:23,440 --> 00:16:27,120 Speaker 1: could it mean for policy if we do get divided government? 296 00:16:27,160 --> 00:16:29,880 Speaker 1: The return of divided government in Washington? What could it 297 00:16:29,920 --> 00:16:33,280 Speaker 1: mean for either party to get an agenda move forward? 298 00:16:34,400 --> 00:16:38,120 Speaker 1: Very broadly speaking, Uh, the status quo by think what 299 00:16:38,160 --> 00:16:41,160 Speaker 1: you get is you get the domestic policy grid luck 300 00:16:41,480 --> 00:16:45,120 Speaker 1: with the one party in the White House checking off 301 00:16:45,160 --> 00:16:49,440 Speaker 1: against the other party in the Congress. Firstly, Uh. Secondly, 302 00:16:49,480 --> 00:16:53,000 Speaker 1: I think you get uh. You do get fiscal stability. 303 00:16:53,400 --> 00:16:55,800 Speaker 1: There's been fiscal stability for the last decade. I think 304 00:16:55,800 --> 00:16:59,320 Speaker 1: that continues. I don't think you get another kind of 305 00:16:59,320 --> 00:17:02,600 Speaker 1: get get another kind of COVID spend or inflation reduction 306 00:17:02,680 --> 00:17:06,880 Speaker 1: sort of spend, though, which is probably helpful in the markets. 307 00:17:07,240 --> 00:17:11,080 Speaker 1: And thirdly, you you get continued unanimity in foreign policy. 308 00:17:11,119 --> 00:17:14,760 Speaker 1: And if there's any area where the transition from the 309 00:17:14,760 --> 00:17:19,280 Speaker 1: previous administration to this one has been remarkable, it's that 310 00:17:19,640 --> 00:17:23,080 Speaker 1: foreign policy has remained largely the same and largely supported 311 00:17:23,080 --> 00:17:25,520 Speaker 1: by both parties. And I think that continues. Is there 312 00:17:25,520 --> 00:17:28,399 Speaker 1: a risk for market volatility if, as you say, we 313 00:17:28,520 --> 00:17:32,080 Speaker 1: don't know the results of some key races after tonight. 314 00:17:33,160 --> 00:17:36,800 Speaker 1: I think it's uh. I think it's a spice. Yeah. 315 00:17:37,119 --> 00:17:39,240 Speaker 1: I think a lot of a lot of people in 316 00:17:39,320 --> 00:17:44,560 Speaker 1: markets a kind of understand or are understanding, that you're 317 00:17:44,560 --> 00:17:47,840 Speaker 1: not going to get an instantaneous result. Markets are are 318 00:17:47,880 --> 00:17:52,159 Speaker 1: as you know better than I, very much interested in 319 00:17:52,160 --> 00:17:54,520 Speaker 1: instant gratification one way or the other and they're not 320 00:17:54,560 --> 00:17:57,280 Speaker 1: going to get that. Um, so there'll be a little 321 00:17:57,280 --> 00:17:58,920 Speaker 1: bit of that, but you know, in the middle of 322 00:17:59,000 --> 00:18:00,840 Speaker 1: everything else that's going on, I don't think it will 323 00:18:00,840 --> 00:18:04,160 Speaker 1: be a major driver. Is what what is the message 324 00:18:04,320 --> 00:18:08,520 Speaker 1: for Democrats for President Biden? If the polls come out 325 00:18:08,520 --> 00:18:10,600 Speaker 1: the way or the results come out the way the 326 00:18:10,640 --> 00:18:14,399 Speaker 1: polls are indicating, and we do get a pretty strong 327 00:18:14,440 --> 00:18:17,959 Speaker 1: result for Republicans after this evening, well, what the message 328 00:18:17,960 --> 00:18:21,240 Speaker 1: should be for both parties is that you know what 329 00:18:21,280 --> 00:18:27,360 Speaker 1: you're doing, whether it be uh kind of overstating the yeah, 330 00:18:27,960 --> 00:18:33,080 Speaker 1: overstating policy differences to the sort of apocalyptic rhetoric that 331 00:18:33,080 --> 00:18:36,520 Speaker 1: that's been featured in many states over the past several months, 332 00:18:37,000 --> 00:18:39,920 Speaker 1: isn't working in that what people want or problems solving 333 00:18:40,000 --> 00:18:42,960 Speaker 1: and reaching across the aisle, and frankly that the vast 334 00:18:43,000 --> 00:18:45,840 Speaker 1: majority of problems can be can be solved that way. 335 00:18:45,880 --> 00:18:48,760 Speaker 1: Not not every one, of course, but the vast majority 336 00:18:48,760 --> 00:18:52,800 Speaker 1: of problems can be and uh, that's not happening. What 337 00:18:52,960 --> 00:18:58,000 Speaker 1: concerns me is that neither party takes away from this election, 338 00:18:58,040 --> 00:19:03,040 Speaker 1: whether it be Democrats losing or Republicans not winning that much. Uh, 339 00:19:03,280 --> 00:19:05,719 Speaker 1: you know, kind of the humility they need. Uh. Peggy 340 00:19:05,720 --> 00:19:08,479 Speaker 1: Noonan's column last week, I think said very well that 341 00:19:09,200 --> 00:19:13,640 Speaker 1: democracy doesn't survive without humility, and uh, you know our 342 00:19:13,680 --> 00:19:16,800 Speaker 1: politics could use a great, a great dose of more 343 00:19:16,800 --> 00:19:19,879 Speaker 1: of it. Thanks as always, Terry, good to get your thoughts, 344 00:19:19,960 --> 00:19:24,360 Speaker 1: especially on the morning before the polls open across the country. 345 00:19:24,800 --> 00:19:28,440 Speaker 1: Terry Haynes, founder of Pangea Policy with us on this 346 00:19:28,560 --> 00:19:31,399 Speaker 1: election day. Looking ahead to the market open this morning, 347 00:19:31,920 --> 00:19:35,560 Speaker 1: UH futures are poised for a slide gain on Wall Street, 348 00:19:35,600 --> 00:19:38,600 Speaker 1: with SMP futures right now up five point STOW futures 349 00:19:38,680 --> 00:19:42,800 Speaker 1: up forty three, NAZDAC futures leading the gains higher by 350 00:19:42,880 --> 00:19:45,960 Speaker 1: thirty seven points. At the moment, the tenure Treasury is 351 00:19:46,040 --> 00:19:48,639 Speaker 1: up three thirty seconds, yield four points to zero percent, 352 00:19:48,880 --> 00:19:51,679 Speaker 1: yield on the two year four point seven zero percent, 353 00:19:52,119 --> 00:19:54,760 Speaker 1: and looking at NIMEX screwed right now it is lower 354 00:19:54,800 --> 00:19:57,320 Speaker 1: on the session, down one point four percent at ninety 355 00:19:57,359 --> 00:20:01,640 Speaker 1: dollars fifty two cents a barrel. You're listening to Bloomberg 356 00:20:01,800 --> 00:20:09,560 Speaker 1: Daybreak Bloomberg eleven three oh weather sunny, much cooler today. 357 00:20:09,640 --> 00:20:12,960 Speaker 1: Highs today and tomorrow in the mid fifties, will be 358 00:20:12,960 --> 00:20:16,800 Speaker 1: in the low sixties, with another sunny day expected on Thursday. 359 00:20:16,920 --> 00:20:23,520 Speaker 1: Right now, forty eight degrees in Central Park, broadcasting live 360 00:20:23,680 --> 00:20:27,639 Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg 361 00:20:27,640 --> 00:20:31,760 Speaker 1: E Living Free to Washington, d C, Bloomberg to Boston, 362 00:20:31,840 --> 00:20:35,240 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 363 00:20:35,320 --> 00:20:38,520 Speaker 1: six to the country, Sirius XM to the one nine team, 364 00:20:38,520 --> 00:20:41,680 Speaker 1: and around the globe the Bloomberg Business app and Bloomberg 365 00:20:41,760 --> 00:20:50,960 Speaker 1: Radio dot Com. This is Bloomberg Daybreak and it's final 366 00:20:51,080 --> 00:20:53,919 Speaker 1: thirty on Wall Street. Good morning, I'm camerin Moscow. I'm 367 00:20:54,000 --> 00:20:56,600 Speaker 1: Nathan Hagar. Bloomberg Daybreak is brought to you by SEI. 368 00:20:56,720 --> 00:20:59,760 Speaker 1: Built on advanced technologies and fifty years of innovation, SEI 369 00:20:59,800 --> 00:21:02,879 Speaker 1: off for his asset Managers, a comprehensive and flexible operations 370 00:21:02,880 --> 00:21:06,400 Speaker 1: outsourcing platform. Go to se i C dot com slash managers, 371 00:21:06,840 --> 00:21:09,200 Speaker 1: and we're just about four hours away from the open 372 00:21:09,240 --> 00:21:11,000 Speaker 1: of US trading. Let's get you up to date on 373 00:21:11,040 --> 00:21:13,320 Speaker 1: the news you need to know at this hour. It's 374 00:21:13,359 --> 00:21:16,600 Speaker 1: election day, Americans go to the polls to decide control 375 00:21:16,720 --> 00:21:19,280 Speaker 1: of Congress. Just to get Taylor, editor with the Cook 376 00:21:19,320 --> 00:21:23,119 Speaker 1: Political Report tells us momentum is on the Republican side. 377 00:21:23,600 --> 00:21:26,320 Speaker 1: The House looked further gone in the Senate. The Senate 378 00:21:26,440 --> 00:21:29,119 Speaker 1: is still going to be very, very close. But the 379 00:21:29,200 --> 00:21:32,080 Speaker 1: closer it gets to election day, the more worried Democrats 380 00:21:32,080 --> 00:21:34,560 Speaker 1: that I've talked to have gotten, and the more bullish 381 00:21:34,600 --> 00:21:38,119 Speaker 1: Republicans try to just have gotten. Jessica Tailor of the 382 00:21:38,160 --> 00:21:41,600 Speaker 1: Cook Political Report, spoke with our Washington correspondent Joe Matthew 383 00:21:41,640 --> 00:21:44,880 Speaker 1: on Bloomberg sound On Catch the program weekdays at five 384 00:21:44,880 --> 00:21:48,080 Speaker 1: pm Eastern on Bloomberg Radio. Some of those close Senate 385 00:21:48,119 --> 00:21:52,840 Speaker 1: contests Karen include Pennsylvania, Ohio, Georgia, and Arizona. Arizona's race 386 00:21:52,880 --> 00:21:55,680 Speaker 1: for governor is also expected to be close. In New York, 387 00:21:55,720 --> 00:21:58,600 Speaker 1: Republican Lee's Elden could deliver a shocker in a race 388 00:21:58,680 --> 00:22:01,080 Speaker 1: that was once thought to be a shoo in for Democrats. 389 00:22:01,320 --> 00:22:05,280 Speaker 1: We need to hire more law enforcement Les Elden has 390 00:22:05,320 --> 00:22:07,680 Speaker 1: made crime one of his main talking points. In New York. 391 00:22:07,680 --> 00:22:12,080 Speaker 1: Governor Kathy Hoco campaigned in her hometown of Buffalo last night. Meantime, Nathan, 392 00:22:12,119 --> 00:22:15,440 Speaker 1: former President Trump, is not so subtly hinting at another 393 00:22:15,520 --> 00:22:18,639 Speaker 1: White House bid. He's scheduling an announcement once the midterms 394 00:22:18,640 --> 00:22:22,960 Speaker 1: are over. I'm going to be making a very big 395 00:22:23,000 --> 00:22:29,399 Speaker 1: announcement on Tuesday, November. The former president made that announcement 396 00:22:29,480 --> 00:22:33,480 Speaker 1: last night at a rally for Ohio Republican Senate candidate JD. Vance. 397 00:22:33,680 --> 00:22:36,359 Speaker 1: Let's turn to markets now. Karen Stocks have rallied for 398 00:22:36,400 --> 00:22:38,840 Speaker 1: consecutive days ahead of the mid terms, but Bloomberg macro 399 00:22:38,960 --> 00:22:42,040 Speaker 1: strategist Cameron Christ does not believe control of Congress will 400 00:22:42,080 --> 00:22:46,120 Speaker 1: change much for investors. People tend to overestimate the significance 401 00:22:46,320 --> 00:22:51,480 Speaker 1: of individual political actors in driving economic and certainly financial 402 00:22:51,520 --> 00:22:55,120 Speaker 1: market returns. Bloomberg's Cameron Christ says this week's consumer price 403 00:22:55,200 --> 00:22:57,560 Speaker 1: index and uncertainty in China will have more of an 404 00:22:57,600 --> 00:23:01,919 Speaker 1: impact on markets and At the cop Climate summit in Eagypt. Nathan, 405 00:23:01,960 --> 00:23:05,240 Speaker 1: the World Bank announced a climate trust fund for poorer countries. 406 00:23:05,280 --> 00:23:08,560 Speaker 1: Bloomberg's Francine lachwas spoke about it with World Bank President 407 00:23:08,640 --> 00:23:12,600 Speaker 1: David Malpass. More resources are really important both for the 408 00:23:12,680 --> 00:23:16,560 Speaker 1: climate crisis but also for the financial crisis affecting the 409 00:23:16,760 --> 00:23:20,480 Speaker 1: developing countries. Here more of Bloomberg's conversation with World Bank 410 00:23:20,480 --> 00:23:24,160 Speaker 1: President David Malpass a little later in the program. Futures 411 00:23:24,160 --> 00:23:27,560 Speaker 1: this morning are on the rise. SMP futures up five points, 412 00:23:27,600 --> 00:23:31,639 Speaker 1: straight ahead, your latest local headlines plus check of sports. 413 00:23:31,720 --> 00:23:38,960 Speaker 1: And this is Bloomberg. Thank you, Carring. It's five thirty 414 00:23:39,000 --> 00:23:41,000 Speaker 1: three on Wall Street, forty eight degrees in Central Park 415 00:23:41,000 --> 00:23:43,560 Speaker 1: and still got that car fire southbound Garden State Parkways 416 00:23:43,600 --> 00:23:46,240 Speaker 1: at one and Michael Barr is here with more on 417 00:23:46,320 --> 00:23:48,480 Speaker 1: what's going on in New York and around the world. Michael, 418 00:23:48,520 --> 00:23:51,080 Speaker 1: thank you very much. Nathan. There are other races being 419 00:23:51,080 --> 00:23:54,320 Speaker 1: watched in the Tri state area as well. In Connecticut, 420 00:23:54,400 --> 00:23:59,080 Speaker 1: Democratic Governor Ned Lamont is up against Republican challenger Robert Stefanowski. 421 00:23:59,520 --> 00:24:02,199 Speaker 1: Lamont talked about the infrastructure bill when he spoke to 422 00:24:02,200 --> 00:24:04,959 Speaker 1: Bloomberg earlier. We got a hundred year old bridges and 423 00:24:06,160 --> 00:24:09,200 Speaker 1: old Rhodes, old rails, so this is a big deal 424 00:24:09,240 --> 00:24:12,920 Speaker 1: for us. Every president seems to be talking about infrastructure 425 00:24:13,000 --> 00:24:15,280 Speaker 1: abides the first guy since iked, as far as I 426 00:24:15,320 --> 00:24:18,040 Speaker 1: could figure out, to really be serious about it. In 427 00:24:18,160 --> 00:24:20,960 Speaker 1: the U S. Senate, Democrat Richard Bloomenthal is up against 428 00:24:21,000 --> 00:24:25,520 Speaker 1: Republicanly you're leaving Speaker Nancy Pelosi is now speaking about 429 00:24:25,600 --> 00:24:28,320 Speaker 1: how the brutal assault on her husband may affect your 430 00:24:28,320 --> 00:24:31,520 Speaker 1: future in Congress. Pelosi, in her first interview since the 431 00:24:31,520 --> 00:24:34,879 Speaker 1: brutal hammer attack on her husband, Paul acknowledged the c 432 00:24:35,040 --> 00:24:38,639 Speaker 1: Ann's Anderson Cooper the attack will impact her decision on 433 00:24:38,680 --> 00:24:41,880 Speaker 1: her future in Congress, without saying what the decision will 434 00:24:41,920 --> 00:24:44,639 Speaker 1: be if she's no longer Speaker of the House. I 435 00:24:44,680 --> 00:24:46,840 Speaker 1: have to say my decision will be effective about what 436 00:24:46,960 --> 00:24:50,200 Speaker 1: happened the last week or two? Will it be? Will 437 00:24:50,240 --> 00:24:54,240 Speaker 1: your decision be impacted by the attack? In anyone? Authorities 438 00:24:54,280 --> 00:24:58,119 Speaker 1: say Paul Pelosi is alleged attacker David pop wanted to 439 00:24:58,119 --> 00:25:01,920 Speaker 1: take Speaker Pelosi hostage. U S Intelligence and the US 440 00:25:02,000 --> 00:25:05,400 Speaker 1: government have long accused Russia of interfering with US elections, 441 00:25:05,440 --> 00:25:09,800 Speaker 1: primarily using social media. One of Vladimir Putin's key allies, 442 00:25:09,840 --> 00:25:12,800 Speaker 1: jef Ginny Purges and he is now admitting that he 443 00:25:12,920 --> 00:25:15,879 Speaker 1: did medal in the US elections and will do so again. 444 00:25:16,680 --> 00:25:19,600 Speaker 1: People waited in line for hours for the record breaking 445 00:25:19,680 --> 00:25:23,880 Speaker 1: one point nine billion dollar powerball lottery jackpot. Get your 446 00:25:23,880 --> 00:25:28,520 Speaker 1: tickets out because here comes tonight's Powerball. Because of a 447 00:25:28,560 --> 00:25:31,240 Speaker 1: technical problem, tonight, we are unable to bring you the 448 00:25:31,280 --> 00:25:34,440 Speaker 1: Powerball drawing at this time. As soon as we're able 449 00:25:34,480 --> 00:25:37,439 Speaker 1: to resolve the issue and conducted drawing, it will be 450 00:25:37,480 --> 00:25:40,840 Speaker 1: available for viewing on powerball dot com and on our 451 00:25:40,880 --> 00:25:46,080 Speaker 1: YouTube channel. Power power Ball says a participating lottery needed 452 00:25:46,080 --> 00:25:49,800 Speaker 1: more time to process sales. Global News twenty four hours 453 00:25:49,800 --> 00:25:52,560 Speaker 1: a day on air and on Bloomberg Quickdake, powered by 454 00:25:52,600 --> 00:25:55,159 Speaker 1: more than twenty seven hundred journalists and analysts more than 455 00:25:55,160 --> 00:25:58,240 Speaker 1: a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan 456 00:25:58,359 --> 00:26:05,760 Speaker 1: still time, Thank you, Michael wall Street, time for the 457 00:26:05,760 --> 00:26:07,880 Speaker 1: Bloomberg Sports. Something prot to you. I try state out 458 00:26:07,880 --> 00:26:10,280 Speaker 1: he here's John Stature. All right, Nathan with Kyrie every 459 00:26:10,400 --> 00:26:13,320 Speaker 1: serving that suspension, the less drama for the Nets had 460 00:26:13,359 --> 00:26:15,359 Speaker 1: a couple of road wins nearly another, but the Nets 461 00:26:15,359 --> 00:26:18,800 Speaker 1: fell short in Dallas nineties six ninety four. Luca Downson's 462 00:26:18,840 --> 00:26:21,920 Speaker 1: thirty six points of the match he joined Wilt Chamberlain 463 00:26:22,040 --> 00:26:24,240 Speaker 1: is the only players the beginning season of the ninth 464 00:26:24,240 --> 00:26:26,640 Speaker 1: straight games of thirty or more points for the Nets 465 00:26:26,640 --> 00:26:29,160 Speaker 1: playing better defense. There's Kevin Duranty. I think we followed 466 00:26:29,200 --> 00:26:30,919 Speaker 1: some things on this trip that were for all of 467 00:26:31,000 --> 00:26:33,200 Speaker 1: us to keep all of us in the game offensively 468 00:26:33,280 --> 00:26:36,680 Speaker 1: and defensively. Uh you know, I think we uh we 469 00:26:36,800 --> 00:26:40,960 Speaker 1: followed some stuff all you know, switching and uh, you know, 470 00:26:41,200 --> 00:26:43,320 Speaker 1: helping on the post, and it was just a little 471 00:26:43,320 --> 00:26:44,919 Speaker 1: different things that we're trying to figure out on the 472 00:26:44,960 --> 00:26:47,800 Speaker 1: defensive side of the ball. He's going six. The Nets 473 00:26:47,800 --> 00:26:50,520 Speaker 1: host the Knicks tomorrow. Knicks back to five one in 474 00:26:50,560 --> 00:26:54,280 Speaker 1: Minnesota one oh seven. Nick coach Tom Thibodeau has always 475 00:26:54,320 --> 00:26:58,320 Speaker 1: resisted playing Julius Randall at the same time as fan 476 00:26:58,440 --> 00:27:00,560 Speaker 1: favorite Obi Topp, and he did it last night. They 477 00:27:00,560 --> 00:27:03,400 Speaker 1: combined to make the eleventh three pointers. Randall scored thirty 478 00:27:03,440 --> 00:27:04,960 Speaker 1: one points god Win to the Islanders of the u 479 00:27:04,960 --> 00:27:07,560 Speaker 1: B S Arena. They trailed Calgary three one midway through 480 00:27:07,560 --> 00:27:10,320 Speaker 1: the third period. Anders Lee Kyle palm Mary scored minute 481 00:27:10,320 --> 00:27:12,600 Speaker 1: apart and then Noah Dobson with a minute left and 482 00:27:12,640 --> 00:27:15,240 Speaker 1: overtime and the Islanders one, four to three. Opening night 483 00:27:15,280 --> 00:27:18,400 Speaker 1: in college basketball, St. John's beating Merrymack by twenty five 484 00:27:18,520 --> 00:27:22,080 Speaker 1: David Jones twenty four minutes, twenty one points, ten rebounds, 485 00:27:22,280 --> 00:27:25,360 Speaker 1: NFL Baltimore one in New Orleans twenty seven to thirteen. 486 00:27:25,400 --> 00:27:29,320 Speaker 1: Indianapolis fired coach Frank Reich midway through his fifth season, 487 00:27:29,359 --> 00:27:31,840 Speaker 1: replaced him for now with Jeff Saturday, the ex Coulton 488 00:27:31,920 --> 00:27:35,040 Speaker 1: lineman who had been working for ESPN. Giant Safety's Avery 489 00:27:35,080 --> 00:27:37,680 Speaker 1: McKinney hurt his hand in an a TV accident will 490 00:27:37,680 --> 00:27:40,560 Speaker 1: miss a month. Yankees, as expected, picked up the fifteen 491 00:27:40,600 --> 00:27:44,120 Speaker 1: million dollar option on Louis Seve Arena. John dashtwar Boomberg 492 00:27:44,119 --> 00:27:46,880 Speaker 1: Sports Thank you John, five thirty seven on Wall Street 493 00:27:46,920 --> 00:27:50,120 Speaker 1: Time for the Tri State Business Report. Here's bloombergsdny's PELLEGREENI 494 00:27:50,400 --> 00:27:53,199 Speaker 1: the education business to New York City might not be 495 00:27:53,280 --> 00:27:56,080 Speaker 1: making the grade. Enrollment has slid ten percent since the 496 00:27:56,119 --> 00:27:59,800 Speaker 1: fallen school year. That's according to the Department of Education. 497 00:28:00,080 --> 00:28:03,000 Speaker 1: And that's his families leave the city for other places 498 00:28:03,040 --> 00:28:06,800 Speaker 1: like New Jersey and Florida. Hartford train line stations are 499 00:28:06,800 --> 00:28:10,399 Speaker 1: sparking new economic development in Connecticut. Hartford Business says the 500 00:28:10,440 --> 00:28:14,639 Speaker 1: state's transit oriented investment program for the Hartford Line corridor 501 00:28:14,720 --> 00:28:18,360 Speaker 1: is attracting mixed use projects and first selectment. Paul Harrington 502 00:28:18,480 --> 00:28:21,200 Speaker 1: says in some cases, the FONUS ringing off the hook 503 00:28:21,240 --> 00:28:25,080 Speaker 1: with developers looking for more information on potential projects and 504 00:28:25,119 --> 00:28:28,120 Speaker 1: watch her. Sir Elton John at the Sacks Fifth Avenue 505 00:28:28,119 --> 00:28:32,560 Speaker 1: window unveiling November. The entertainer teaming up with Sacks for 506 00:28:32,600 --> 00:28:36,359 Speaker 1: the Luxury Retailers Holiday campaign in support of his AIDS 507 00:28:36,400 --> 00:28:39,840 Speaker 1: foundations Rocket Fund with the Child State Business Report. I'm 508 00:28:39,880 --> 00:28:42,480 Speaker 1: Denise Feliguni. Thank you, Denise. It's five thirty eight on 509 00:28:42,520 --> 00:28:44,400 Speaker 1: Wall Street. Bloomberg Radio is on the air from San 510 00:28:44,400 --> 00:28:47,200 Speaker 1: Francisco to New York, London to Hong Kong. Let's check 511 00:28:47,240 --> 00:28:48,840 Speaker 1: in with our global news team for some of the 512 00:28:48,840 --> 00:28:51,640 Speaker 1: top stories heard on our three hundred affiliate radio stations 513 00:28:51,640 --> 00:28:57,120 Speaker 1: around the world. I'm Steve podascon K and X in 514 00:28:57,240 --> 00:29:00,880 Speaker 1: Los Angeles. We're talking about a MC entered Aiment launching 515 00:29:01,000 --> 00:29:05,520 Speaker 1: Zoom Rooms in some of its theaters. Um Cornitanahwan ktr 516 00:29:05,680 --> 00:29:09,320 Speaker 1: H in Houston. Retailers are pushing big holiday discounts to 517 00:29:09,320 --> 00:29:12,800 Speaker 1: get rid of an overabundance of inventory. Clan Gina Servetti 518 00:29:12,880 --> 00:29:15,560 Speaker 1: and for k CBS in San Francisco, I'm reporting that 519 00:29:15,720 --> 00:29:18,720 Speaker 1: Lift appears to be losing ground to rival Uber, with 520 00:29:18,840 --> 00:29:23,120 Speaker 1: writership not returning to pre pandemic levels. I'm Steven Carol 521 00:29:23,160 --> 00:29:25,760 Speaker 1: and Bloomberg d A B. Digittal Radio in London. We've 522 00:29:25,800 --> 00:29:28,400 Speaker 1: been reporting on efforts to both to appledge to cut 523 00:29:28,440 --> 00:29:32,240 Speaker 1: meThe animations at the COP twenty seven Climate Conference. I'm 524 00:29:32,280 --> 00:29:35,240 Speaker 1: Denis Poligridy and I'm w A I in San Antonio. 525 00:29:35,280 --> 00:29:38,400 Speaker 1: I'm reporting on all the big holiday shopping bargains coming 526 00:29:38,400 --> 00:29:40,640 Speaker 1: our way. And those are some of the stories are 527 00:29:40,720 --> 00:29:43,760 Speaker 1: twenty d Bloomberg journalists and analysts working on this morning 528 00:29:43,800 --> 00:29:46,280 Speaker 1: around the world. It's five thirty nine on Wall Street. 529 00:29:46,520 --> 00:29:50,640 Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial 530 00:29:50,720 --> 00:29:53,560 Speaker 1: was written by the Bloomberg Editorial Board. Over the past 531 00:29:53,560 --> 00:29:57,239 Speaker 1: few decades, Europe has undertaken a monumental transformation of its 532 00:29:57,280 --> 00:30:01,720 Speaker 1: electricity sector, dismantling national mono please and rearranging the pieces 533 00:30:01,720 --> 00:30:05,480 Speaker 1: into a common market. Amazingly, it mostly works. So it 534 00:30:05,480 --> 00:30:08,240 Speaker 1: would be ironic if the totalitarian leader of a former 535 00:30:08,280 --> 00:30:11,960 Speaker 1: Soviet state convinced Europe to abandon this free market. Yet 536 00:30:12,000 --> 00:30:15,320 Speaker 1: that's now a looming risk as European officials struggled to 537 00:30:15,360 --> 00:30:19,920 Speaker 1: respond to Russian President Vladimir Putin's weaponization of energy supply. 538 00:30:20,440 --> 00:30:23,360 Speaker 1: No doubt getting through the immediate crisis will require some 539 00:30:23,400 --> 00:30:27,560 Speaker 1: suboptimal policies. Out of sheer expediency. But this doesn't mean 540 00:30:27,560 --> 00:30:31,240 Speaker 1: the broader reform was misguided. On the contrary, creating a 541 00:30:31,320 --> 00:30:34,920 Speaker 1: unified market has delivered vast benefits. Europe shouldn't let a 542 00:30:34,960 --> 00:30:38,240 Speaker 1: Russian dictator undermine them. This editorial was written by the 543 00:30:38,280 --> 00:30:41,200 Speaker 1: Bloomberg Editorial Board. For more Bloomberg opinion, please go to 544 00:30:41,200 --> 00:30:44,920 Speaker 1: Bloomberg dot com, slash opinion or opi and go on. 545 00:30:44,960 --> 00:30:48,440 Speaker 1: The Bloomberg Terminal has been Bloomberg Opinion, and you can 546 00:30:48,440 --> 00:30:51,880 Speaker 1: hear Bloomberg opinion editorials every weekday. At this time, terminal 547 00:30:51,920 --> 00:30:54,760 Speaker 1: customers can read more at O, P, I N go. 548 00:30:55,360 --> 00:30:58,160 Speaker 1: Looking ahead to the market open on this election day, 549 00:30:58,200 --> 00:31:01,479 Speaker 1: futures are pointing to slight anes. We've got SMP futures 550 00:31:01,520 --> 00:31:03,560 Speaker 1: higher by five points right now. Down future is up 551 00:31:03,600 --> 00:31:07,400 Speaker 1: forty four Nanstack futures on the rise by thirty six points. 552 00:31:07,440 --> 00:31:09,800 Speaker 1: Straight ahead, we're gonna take a close look at a 553 00:31:09,920 --> 00:31:13,920 Speaker 1: closer than expected New York Governor's race. Bloomberg New York 554 00:31:14,000 --> 00:31:19,320 Speaker 1: Bureau chief Shelley Banjo will join us live. This is Bloomberg. 555 00:31:22,200 --> 00:31:24,600 Speaker 1: Bloomberg Sports was brought to you by Autie. Don't let 556 00:31:24,600 --> 00:31:27,040 Speaker 1: someone else drive off in the Autie model you've always wanted. 557 00:31:27,120 --> 00:31:29,440 Speaker 1: Visit your local price state autie dealer to get behind 558 00:31:29,440 --> 00:31:31,880 Speaker 1: the wheel of yours today, or visit autie Offers dot 559 00:31:31,920 --> 00:31:39,920 Speaker 1: com for more information, markets, headlines and breaking news twenty 560 00:31:39,960 --> 00:31:42,800 Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg 561 00:31:42,840 --> 00:31:46,880 Speaker 1: Business Outland at Bloomberg Quicktape. This is a Bloomberg Business 562 00:31:46,880 --> 00:31:54,960 Speaker 1: Flash and I'm Karen Moscow. This update brought to you 563 00:31:55,040 --> 00:31:58,880 Speaker 1: by se I. Imagine your asset management firms operational infrastructure 564 00:31:58,960 --> 00:32:01,000 Speaker 1: as a competitive advance, and then let s c I 565 00:32:01,080 --> 00:32:03,160 Speaker 1: show you how at s C I C dot com 566 00:32:03,200 --> 00:32:07,200 Speaker 1: slash I M s US dot index futures are higher 567 00:32:07,240 --> 00:32:10,480 Speaker 1: this morning, investors awaiting the results of today's mid terms 568 00:32:10,480 --> 00:32:13,280 Speaker 1: as well as the inflation report on Thursday. And we 569 00:32:13,360 --> 00:32:15,720 Speaker 1: check the markets every fifteen minutes throughout the trading day. 570 00:32:16,040 --> 00:32:19,160 Speaker 1: On Bloomberg, SMP future is up five points now, futures 571 00:32:19,160 --> 00:32:22,000 Speaker 1: of forty four and Aspect futures up thirty five. The 572 00:32:22,120 --> 00:32:25,000 Speaker 1: decks in Germany's up three tenths of up percent. Tenure 573 00:32:25,040 --> 00:32:27,760 Speaker 1: treasury of three thirty seconds. The yield is at four 574 00:32:27,800 --> 00:32:30,480 Speaker 1: point one nine percent. Yield on the two year four 575 00:32:30,520 --> 00:32:33,800 Speaker 1: point seven zero percent nine x screwed oil is done? 576 00:32:33,800 --> 00:32:35,959 Speaker 1: When did a quarter percent at a dollar sixteen at 577 00:32:36,000 --> 00:32:38,840 Speaker 1: ninety dollars sixty three cents of barrel comic school down 578 00:32:38,880 --> 00:32:41,440 Speaker 1: four tenths percent or six dollars eighty cents at sixteen 579 00:32:41,520 --> 00:32:45,040 Speaker 1: seventy three seventy and ounce. The euro is at parody 580 00:32:45,080 --> 00:32:47,440 Speaker 1: against the dollar. The British found one point one four 581 00:32:47,560 --> 00:32:50,680 Speaker 1: seven six, then one forty six point two six, and 582 00:32:50,800 --> 00:32:53,760 Speaker 1: Bitcoin this morning is down four point seven percent at 583 00:32:53,840 --> 00:32:57,440 Speaker 1: nineteen thousand, seven hundred dollars. That's a bloomberg business flash. 584 00:32:57,440 --> 00:32:59,560 Speaker 1: Now here's not go bar with more on what's going 585 00:32:59,560 --> 00:33:02,360 Speaker 1: on around world, Karen, thank you very much. Months of 586 00:33:02,480 --> 00:33:05,880 Speaker 1: campaigning are now over. The mid term elections are here 587 00:33:05,960 --> 00:33:10,520 Speaker 1: that will assigned control of Congress and top governorships. President 588 00:33:10,560 --> 00:33:13,960 Speaker 1: Joe Biden knowledge Democrats face a tougher challenge holding the 589 00:33:14,000 --> 00:33:18,240 Speaker 1: House than the US Senate. Budd he's optimistic. Meanwhile, former 590 00:33:18,280 --> 00:33:20,920 Speaker 1: President Trump says he is going to be making a 591 00:33:21,120 --> 00:33:26,240 Speaker 1: very big announcement on Tuesday, November at his mar Logo resort. 592 00:33:26,600 --> 00:33:29,480 Speaker 1: Trump has strongly hinted that he will announce another run 593 00:33:29,520 --> 00:33:32,320 Speaker 1: for the White House. In the NBA, the Knicks one 594 00:33:32,440 --> 00:33:35,880 Speaker 1: the Nets lost the Celtics, Wizards, and Warriors all one 595 00:33:36,240 --> 00:33:38,960 Speaker 1: in the NHL, the Islanders one in ot against the 596 00:33:39,000 --> 00:33:42,800 Speaker 1: Flames for three, the Bruins and Capitals also one Monday 597 00:33:42,880 --> 00:33:47,520 Speaker 1: Night football, the Ravens beat the Saints. Global News twenty 598 00:33:47,520 --> 00:33:50,680 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 599 00:33:50,920 --> 00:33:53,880 Speaker 1: powered by more than twenty seven hundred journalists and analysts 600 00:33:53,920 --> 00:33:57,480 Speaker 1: more than a hundred twenty countries. Michael Barren, this is Bloomberg. 601 00:33:57,600 --> 00:34:00,760 Speaker 1: Nathan Okay, Michael, thank you. It is on Wall Street 602 00:34:00,800 --> 00:34:04,120 Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 603 00:34:04,200 --> 00:34:06,479 Speaker 1: day Break. On this mid term election day. We want 604 00:34:06,520 --> 00:34:08,960 Speaker 1: to take a closer look at a New York governor's 605 00:34:09,080 --> 00:34:12,360 Speaker 1: race that has turned pretty competitive in the final weeks 606 00:34:12,400 --> 00:34:16,160 Speaker 1: for Democratic incumbent Kathy Hokel and Republican challenger le Selden. 607 00:34:16,560 --> 00:34:19,160 Speaker 1: For more, We're joined by Bloomberg New York Bureau chief 608 00:34:19,320 --> 00:34:23,600 Speaker 1: Shelley Banjo. Shelley, good morning. So the Republican in this 609 00:34:23,719 --> 00:34:27,200 Speaker 1: race really has closed the gap with Governor Hokel with 610 00:34:27,280 --> 00:34:30,759 Speaker 1: a focus on crime. How has he pulled this off? 611 00:34:31,719 --> 00:34:34,239 Speaker 1: That's right, this was supposed to be um sort of 612 00:34:34,280 --> 00:34:37,520 Speaker 1: a shoe in for Democratic Governor Kathy Hokel and it 613 00:34:37,680 --> 00:34:39,879 Speaker 1: did not turn out that way. It's gotten a lot 614 00:34:39,920 --> 00:34:42,600 Speaker 1: closer in the final weeks of the election as campaigning 615 00:34:42,640 --> 00:34:47,359 Speaker 1: has has really ramped up. Lee Selden had two things 616 00:34:47,360 --> 00:34:51,120 Speaker 1: on his side. One is he started campaigning very early 617 00:34:51,200 --> 00:34:55,160 Speaker 1: on UM eighteen months ago, started really hitting the campaign triot, 618 00:34:55,280 --> 00:34:57,759 Speaker 1: talking to folks all around the state. UM, and that 619 00:34:57,800 --> 00:35:00,359 Speaker 1: has come to fruition. And the second one is what 620 00:35:00,400 --> 00:35:02,480 Speaker 1: you said, which is a focus on crime and the 621 00:35:02,520 --> 00:35:05,960 Speaker 1: economy in a way that you know, it's scared a 622 00:35:06,000 --> 00:35:08,960 Speaker 1: lot of people. It also, UM, you know, kind of 623 00:35:09,320 --> 00:35:12,560 Speaker 1: captivated and UM talked to a lot of people about 624 00:35:12,600 --> 00:35:16,600 Speaker 1: what they were feeling around issues around crime and inflation 625 00:35:16,680 --> 00:35:19,759 Speaker 1: in the economy. It seems to hit on some of 626 00:35:19,760 --> 00:35:22,560 Speaker 1: the themes that Republicans have really tried to latch onto 627 00:35:22,560 --> 00:35:25,000 Speaker 1: on a more national level as well. With a focus 628 00:35:25,040 --> 00:35:28,960 Speaker 1: on the economy and crime, particularly in New York State. 629 00:35:29,480 --> 00:35:31,879 Speaker 1: Could this race be seen as something of a bell 630 00:35:31,960 --> 00:35:35,000 Speaker 1: weather for the entire country or does the crime issue 631 00:35:35,040 --> 00:35:38,120 Speaker 1: in particular really come down to what's happening in New 632 00:35:38,200 --> 00:35:41,359 Speaker 1: York City and elsewhere. I think it certainly plays into 633 00:35:41,360 --> 00:35:44,840 Speaker 1: the national trends of crime, and the GOP really counseling 634 00:35:44,880 --> 00:35:47,480 Speaker 1: on that New York City in general, there has been 635 00:35:47,480 --> 00:35:51,280 Speaker 1: a heightened sense. You know, crime remains at decade slows 636 00:35:51,600 --> 00:35:53,960 Speaker 1: in New York City, but they have gone up since 637 00:35:54,000 --> 00:35:58,000 Speaker 1: the pandemic. So they went down when the pandemic started. 638 00:35:58,040 --> 00:36:02,040 Speaker 1: They were lockdowns plus what's happening? And then you see 639 00:36:02,080 --> 00:36:04,960 Speaker 1: these two years of jumps um that people feel, that 640 00:36:05,000 --> 00:36:08,799 Speaker 1: people see, especially high profile crimes, and so especially for 641 00:36:09,239 --> 00:36:11,880 Speaker 1: younger New Yorkers who had only seen a lifetime of 642 00:36:11,920 --> 00:36:14,680 Speaker 1: crime going down, to see crime go up, you really 643 00:36:14,719 --> 00:36:17,480 Speaker 1: start to feel that, um, you start to feel that change. 644 00:36:17,480 --> 00:36:21,520 Speaker 1: And Lee's Eldon Captivate, you know, capitalized on that in 645 00:36:21,560 --> 00:36:23,799 Speaker 1: a way that Kathy Hokel didn't because she was so 646 00:36:23,920 --> 00:36:27,359 Speaker 1: focused during her entire campaign on these kind of key 647 00:36:27,400 --> 00:36:32,880 Speaker 1: democratic social issues like abortion and Trump and um, you know, 648 00:36:32,960 --> 00:36:37,080 Speaker 1: democratic voting rights and and things like that, and so 649 00:36:37,200 --> 00:36:40,400 Speaker 1: she didn't really pivot to those kind of core issues 650 00:36:40,520 --> 00:36:43,480 Speaker 1: until much later in the campaign cycle. She also just 651 00:36:43,560 --> 00:36:46,600 Speaker 1: didn't campaign until later in the campaign cycle. She was 652 00:36:46,680 --> 00:36:49,600 Speaker 1: really running as if she wasn't incumbent, even though she 653 00:36:49,680 --> 00:36:52,399 Speaker 1: hadn't really been in office all that long and had 654 00:36:52,440 --> 00:36:55,640 Speaker 1: never really had never been elected. In these final weeks, 655 00:36:55,640 --> 00:36:57,360 Speaker 1: of course, as you mentioned, there was a sort of 656 00:36:57,440 --> 00:37:00,640 Speaker 1: late pivot to campaigning for Governor Hokell. We've seen some 657 00:37:00,760 --> 00:37:03,359 Speaker 1: national figures come out on the stump in supporter of her, 658 00:37:03,400 --> 00:37:06,960 Speaker 1: including President Biden and the former President Bill Clinton. Are 659 00:37:06,960 --> 00:37:09,920 Speaker 1: we seeing that have any impact for her in the 660 00:37:10,000 --> 00:37:14,759 Speaker 1: final days? You have seen early voting by Democrats go 661 00:37:14,840 --> 00:37:16,800 Speaker 1: up quite a bit. So there's one point one million 662 00:37:16,880 --> 00:37:19,640 Speaker 1: people who came out with early voting. A lot of 663 00:37:19,640 --> 00:37:22,040 Speaker 1: that it was in New York City. Um, but local 664 00:37:22,080 --> 00:37:24,200 Speaker 1: that is in New York City, which is highly democratic 665 00:37:24,239 --> 00:37:27,839 Speaker 1: and and supportive of Kathy Hokel. So the question is, 666 00:37:27,960 --> 00:37:32,880 Speaker 1: you know, did Biden, did Clinton? Um? Did Kamala Harris 667 00:37:32,920 --> 00:37:36,360 Speaker 1: helped convince people to go out and actually vote? Because 668 00:37:36,360 --> 00:37:39,280 Speaker 1: that is an issue, especially in New York City where 669 00:37:39,560 --> 00:37:42,239 Speaker 1: people tend to vote. Uh not as many people tend 670 00:37:42,280 --> 00:37:45,040 Speaker 1: to vote, And so questions, so that is that going 671 00:37:45,080 --> 00:37:47,040 Speaker 1: to push her over the edge and is that going 672 00:37:47,080 --> 00:37:50,239 Speaker 1: to be enough? Now we don't know yet how much 673 00:37:50,280 --> 00:37:53,239 Speaker 1: of the totals those early votings have made up and 674 00:37:53,280 --> 00:37:55,360 Speaker 1: whether or not, um, you know, the rest of the 675 00:37:55,400 --> 00:37:58,520 Speaker 1: state is going to come out on election Day, um 676 00:37:58,600 --> 00:38:01,200 Speaker 1: and vote for brise Eldon Or or Kathy Huckle Now. 677 00:38:01,200 --> 00:38:03,160 Speaker 1: It's certainly going to be a race to watch and 678 00:38:03,239 --> 00:38:05,839 Speaker 1: surprisingly so thanks for this Shelly Great have you gone 679 00:38:05,840 --> 00:38:08,800 Speaker 1: with us this morning? That is Bloomberg's New York Bureau 680 00:38:08,880 --> 00:38:12,120 Speaker 1: chief Shelley Banjoe, Karen Nathan. Thank you. It is five 681 00:38:12,160 --> 00:38:14,400 Speaker 1: fifty three on Wall Street. It's time for the Bloomberg 682 00:38:14,480 --> 00:38:17,120 Speaker 1: Law Report. Let's get to the legal stories we're watching 683 00:38:17,160 --> 00:38:25,040 Speaker 1: this morning. From Bloomberg's Jeff Bellinger. Paple responded to a 684 00:38:25,040 --> 00:38:28,400 Speaker 1: businessman's lawsuit. The company says it is not to blame 685 00:38:28,480 --> 00:38:31,480 Speaker 1: for a hack of the plaintiff smartphone in which spyware 686 00:38:31,600 --> 00:38:35,360 Speaker 1: was installed. The FBI has shut down z Library, a 687 00:38:35,440 --> 00:38:38,880 Speaker 1: pirate website where thousands of e books could be downloaded 688 00:38:38,920 --> 00:38:41,520 Speaker 1: for free. The I r S wants to issue new 689 00:38:41,520 --> 00:38:44,319 Speaker 1: guidance on issues raised by a recent change in how 690 00:38:44,360 --> 00:38:47,839 Speaker 1: research and development costs are accounted for. The agency hopes 691 00:38:47,880 --> 00:38:50,120 Speaker 1: the guidance can be out by the end of the year. 692 00:38:50,360 --> 00:38:55,239 Speaker 1: Bloomberg Law everything you need, all on one legal research platform, 693 00:38:55,400 --> 00:39:00,120 Speaker 1: including guidance, analysis and Bloomberg Market Intelligence. Find out more 694 00:39:00,080 --> 00:39:05,759 Speaker 1: or at Bloomberg Law dot com. All right, Jeff, thank you. 695 00:39:05,800 --> 00:39:09,440 Speaker 1: Now another legal story we're watching. Tattoos are more popular 696 00:39:09,560 --> 00:39:12,200 Speaker 1: than ever and that leads to lawsuits. The verdict in 697 00:39:12,239 --> 00:39:15,640 Speaker 1: the case or the depiction of wrestler Randy Orton's tattoo 698 00:39:15,719 --> 00:39:19,280 Speaker 1: in a video game illustrates the legal uncertainty and mixed 699 00:39:19,400 --> 00:39:23,000 Speaker 1: messages in this complicated area of copyright law. The jury 700 00:39:23,000 --> 00:39:25,279 Speaker 1: decided the case in favor of the tattoo artists, who 701 00:39:25,280 --> 00:39:28,000 Speaker 1: had a copyright on her ink designs, but awarded her 702 00:39:28,000 --> 00:39:31,279 Speaker 1: a paltry sum for more Bloomberg's doing. Grosso speaks to 703 00:39:31,400 --> 00:39:36,719 Speaker 1: intellectual property litigator Terence Ross, a partner at Captain muchin Rosenman. 704 00:39:37,280 --> 00:39:42,120 Speaker 1: The jury award was three thousand, seven hundred fifty dollars, 705 00:39:42,680 --> 00:39:47,360 Speaker 1: which seems really low to me, especially if you consider 706 00:39:47,400 --> 00:39:49,239 Speaker 1: I don't know if the legal work was on a 707 00:39:49,239 --> 00:39:53,160 Speaker 1: contingency basis, but the cost of trial. This is a 708 00:39:53,280 --> 00:39:58,239 Speaker 1: relatively trivial jury award and in my view, represents a 709 00:39:58,360 --> 00:40:02,200 Speaker 1: compromise on the part of the jury members. You often 710 00:40:02,239 --> 00:40:05,439 Speaker 1: see this in civil lawsuits, where there's some dispute within 711 00:40:05,480 --> 00:40:07,720 Speaker 1: the jury members as to whether or not there should 712 00:40:07,719 --> 00:40:09,879 Speaker 1: be a finding a liability in the first place, and 713 00:40:09,920 --> 00:40:13,080 Speaker 1: The compromise usually goes something like this, well, okay, we 714 00:40:13,120 --> 00:40:16,879 Speaker 1: will agree to say that the defendant is liable, and 715 00:40:17,040 --> 00:40:20,400 Speaker 1: you will agree to say that the damages are going 716 00:40:20,440 --> 00:40:22,680 Speaker 1: to be very low. And it's a typical jury compromise 717 00:40:22,760 --> 00:40:25,759 Speaker 1: when the jury doesn't have a consensus. And chances are 718 00:40:25,920 --> 00:40:28,000 Speaker 1: this was on a contingent fee basis. I don't know 719 00:40:28,040 --> 00:40:30,399 Speaker 1: that for a fact, but that's typically the way these 720 00:40:30,400 --> 00:40:34,040 Speaker 1: are pursued, and that would represent not enough money to 721 00:40:34,080 --> 00:40:37,279 Speaker 1: cover the planets attorneys sees not even come close. I 722 00:40:37,400 --> 00:40:40,359 Speaker 1: happen to know the lead attorney for the defense here, 723 00:40:40,360 --> 00:40:42,359 Speaker 1: and that would have covered only about three hours the 724 00:40:42,360 --> 00:40:46,920 Speaker 1: first time. So it's very much I think victory for 725 00:40:47,239 --> 00:40:51,279 Speaker 1: the defendant, but they would probably have preferred not to 726 00:40:51,320 --> 00:40:53,280 Speaker 1: have to take it to a jury, to have prevailed 727 00:40:53,320 --> 00:40:55,680 Speaker 1: on summary judgment, which has happened in the past with 728 00:40:55,760 --> 00:40:58,680 Speaker 1: this particular defendant. It seems to me like the jury 729 00:40:59,000 --> 00:41:02,320 Speaker 1: was thinking about, you know, the implications, because they found 730 00:41:02,360 --> 00:41:06,200 Speaker 1: that none of the profits of the game were attributable 731 00:41:06,320 --> 00:41:09,000 Speaker 1: to the five tattoos. And that makes sense to me, 732 00:41:09,080 --> 00:41:12,319 Speaker 1: because no one's playing the game to look at the tattoos. 733 00:41:12,880 --> 00:41:14,880 Speaker 1: I think that's exactly right. I think the jury probably 734 00:41:14,920 --> 00:41:17,239 Speaker 1: sat there and said to themselves, well, what would have 735 00:41:17,360 --> 00:41:21,120 Speaker 1: been a reasonable licenseee here, instead of looking at what 736 00:41:21,200 --> 00:41:23,239 Speaker 1: the profitability of the game was. And it really goes 737 00:41:23,320 --> 00:41:25,680 Speaker 1: to a different question, which is whether or not this 738 00:41:25,800 --> 00:41:27,680 Speaker 1: case should ever got to the jury in the first place. 739 00:41:27,840 --> 00:41:31,640 Speaker 1: The sort of traditional game plan with respect to the 740 00:41:31,719 --> 00:41:36,200 Speaker 1: defense against copyrighting tattoos has been three parts. You argue 741 00:41:36,280 --> 00:41:38,840 Speaker 1: that there's a fair use, you argue that there's an 742 00:41:38,880 --> 00:41:42,160 Speaker 1: implied license, and you argue that there's a day minimus use. 743 00:41:42,560 --> 00:41:47,000 Speaker 1: And your comment really goes towards this day minimous use issue. 744 00:41:47,200 --> 00:41:50,880 Speaker 1: You see the tattoos fleetingly. He's one character in the game. 745 00:41:51,200 --> 00:41:55,760 Speaker 1: It's clearly not contributing that much to the game users 746 00:41:55,840 --> 00:41:58,440 Speaker 1: enjoyment of the game. It's simply an identify er of 747 00:41:58,520 --> 00:42:01,279 Speaker 1: one character in the game. In the past, not that 748 00:42:01,320 --> 00:42:04,520 Speaker 1: they're a ton of lawsuits on tattoos, but in the past, judges, 749 00:42:04,600 --> 00:42:07,480 Speaker 1: particularly in Southern District, New York, have thrown out the 750 00:42:07,719 --> 00:42:10,720 Speaker 1: copyright and tattoo lawsuits in video games on the grounds 751 00:42:10,960 --> 00:42:15,120 Speaker 1: of the ding minimus abuse defense. Terence rossa partner at 752 00:42:15,160 --> 00:42:18,479 Speaker 1: Captain Muten Rosenman's, speaking with the Bloomberg's June Grasso. Catch 753 00:42:18,560 --> 00:42:21,840 Speaker 1: more of that interview, plus analysis of the latest legal news, 754 00:42:22,080 --> 00:42:25,160 Speaker 1: by subscribing to the Bloomberg Law Podcast or downloading this 755 00:42:25,200 --> 00:42:29,000 Speaker 1: show at Bloomberg dot com slash podcast. Attorneys can find 756 00:42:29,000 --> 00:42:32,759 Speaker 1: exceptional legal research and business development tools have Bloomberg Law 757 00:42:32,880 --> 00:42:36,080 Speaker 1: dot com and on the Bloomberg terminal at b Law. 758 00:42:36,360 --> 00:42:41,040 Speaker 1: Go futures this morning again, Well they're trimming their gains 759 00:42:41,120 --> 00:42:43,000 Speaker 1: just a bit, aren't they. S and P futures are 760 00:42:43,000 --> 00:42:46,600 Speaker 1: now little changed, and Bloomberg day Break continues. This is 761 00:42:46,640 --> 00:42:47,239 Speaker 1: Bloomberg