1 00:00:02,160 --> 00:00:05,400 Speaker 1: Live from the Bloomberg Interactive Workers studios. This is Bloomberg 2 00:00:05,480 --> 00:00:09,160 Speaker 1: Day Break for Wednesday, November nine two. Coming up this hour, 3 00:00:09,480 --> 00:00:12,600 Speaker 1: a mixed mid term verdict from voters. Republicans head towards 4 00:00:12,600 --> 00:00:15,840 Speaker 1: a slimmer House majority than expected. John Fetterman beats men 5 00:00:15,880 --> 00:00:19,320 Speaker 1: A Dallas in the key Pennsylvania Senate race. Georgia maybe 6 00:00:19,320 --> 00:00:22,680 Speaker 1: headed first Senate runoff between Raphael Warnock and Herschel Walker. 7 00:00:22,840 --> 00:00:25,439 Speaker 1: And in New York, Kathy Hukel defeats Lee Zelden in 8 00:00:25,480 --> 00:00:27,920 Speaker 1: the race for governor. A closer look at the local 9 00:00:27,960 --> 00:00:30,840 Speaker 1: election results of the Troy State area. Plus North Korea 10 00:00:30,880 --> 00:00:34,640 Speaker 1: has fired a suspected ballistic missile. I'm Michael Blare more ahead, 11 00:00:34,760 --> 00:00:37,159 Speaker 1: I'm John Staatefower and sports a third period rally for 12 00:00:37,240 --> 00:00:40,080 Speaker 1: the Islanders, debat the Rangers, the Devils one again, the 13 00:00:40,200 --> 00:00:43,960 Speaker 1: Knicks play the Nets tonight. That's all straight ahead. On 14 00:00:44,159 --> 00:00:47,600 Speaker 1: Bloomberg Day, Rake on Bloomberg he Live in Freo, New York, 15 00:00:47,760 --> 00:00:52,479 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one or six one, Boston, 16 00:00:52,640 --> 00:00:56,920 Speaker 1: Bloomberg nine sixty, San Francisco, Sirius x M one nine 17 00:00:56,920 --> 00:01:00,280 Speaker 1: team and around the world on Bloomberg Radio Dot M 18 00:01:00,360 --> 00:01:08,560 Speaker 1: and via the Bloomberg Business. Good morning. I'm Nathan Hager 19 00:01:08,840 --> 00:01:13,039 Speaker 1: and I'm Karen Moscow. Ustock Index futures are lower this morning, 20 00:01:13,240 --> 00:01:15,040 Speaker 1: and we checked the markets after the mid terms of 21 00:01:15,200 --> 00:01:17,759 Speaker 1: SMP Future is down about eight points down, Features down 22 00:01:17,840 --> 00:01:21,120 Speaker 1: ninety two and nasday features down twenty ten year Treasury 23 00:01:21,120 --> 00:01:25,480 Speaker 1: down to thirty seconds. You have four point one three, Nathan. Oh, yes, Karen, 24 00:01:25,480 --> 00:01:27,319 Speaker 1: it is all about the mid term elections this morning. 25 00:01:27,319 --> 00:01:29,840 Speaker 1: While the GOP has made gains in the House, control 26 00:01:29,840 --> 00:01:32,840 Speaker 1: of the Senate still hangs in the balance. Amy Morris 27 00:01:32,880 --> 00:01:36,600 Speaker 1: begins our team coverage from the Bloomberg newsroom in Washington. 28 00:01:36,920 --> 00:01:39,240 Speaker 1: Democrats are keeping the balance of power in the House 29 00:01:39,280 --> 00:01:42,039 Speaker 1: closer than anticipated. As for the Senate, it might be 30 00:01:42,120 --> 00:01:44,800 Speaker 1: a while longer before the results are clear. We do 31 00:01:44,880 --> 00:01:48,040 Speaker 1: know Democrat John Fetterman defeated Trump backed mem At Oz 32 00:01:48,080 --> 00:01:50,840 Speaker 1: for the Senate seat from Pennsylvania with fifty percent of 33 00:01:50,880 --> 00:01:53,800 Speaker 1: the vote. Oz got forty seven point six percent. I 34 00:01:53,880 --> 00:01:56,120 Speaker 1: never expected that we were going to turn these red 35 00:01:56,200 --> 00:01:59,080 Speaker 1: counties blue, but we did what we needed to do. 36 00:01:59,360 --> 00:02:02,640 Speaker 1: Georgia may be headed for a runoff. Democrat Raphael Warnock 37 00:02:02,720 --> 00:02:05,640 Speaker 1: with a slight edge over Trump backed Herssel Walker forty 38 00:02:05,720 --> 00:02:08,480 Speaker 1: nine point four percent to forty eight point six percent, 39 00:02:08,680 --> 00:02:11,800 Speaker 1: and the count was delayed. In Arizona after tabulation machines 40 00:02:11,840 --> 00:02:14,760 Speaker 1: went down. Democrat Mark Kelly currently holds a lead over 41 00:02:14,800 --> 00:02:19,200 Speaker 1: Republican Blake Masters fifty stye percent, and Nevada is expected 42 00:02:19,240 --> 00:02:21,760 Speaker 1: to go uncalled until later in the week because of 43 00:02:21,800 --> 00:02:25,000 Speaker 1: delays from counting mail in ballots. In Washington, I'm Amy 44 00:02:25,040 --> 00:02:27,680 Speaker 1: Morris Bloomberg Daybreak. All right, Amy, thank you all. Taking 45 00:02:27,680 --> 00:02:30,200 Speaker 1: a look at some other key Senate races. Trump back 46 00:02:30,240 --> 00:02:34,040 Speaker 1: Republican j D. Vans defeated Democrat Tim Ryan for Ohio Senate. 47 00:02:34,040 --> 00:02:36,040 Speaker 1: He won with fifty three percent of the vote. New 48 00:02:36,080 --> 00:02:39,320 Speaker 1: Hampshire Democrat Maggie Hasson be Republican Don Bulldock for that 49 00:02:39,400 --> 00:02:42,080 Speaker 1: state's open Senate seat with fifty four percent of the vote. 50 00:02:42,240 --> 00:02:45,680 Speaker 1: Colorado Democrat Michael Bennett got the vote to keep his 51 00:02:45,760 --> 00:02:49,480 Speaker 1: Senate seat over Republican Joe o'della, and North Carolina Republican 52 00:02:49,560 --> 00:02:52,400 Speaker 1: Ted Bud edged out Sherry Beasley with nearly fifty one 53 00:02:52,400 --> 00:02:55,880 Speaker 1: percent of votes. Meantime, in Wisconsin, the race too close 54 00:02:55,919 --> 00:02:59,440 Speaker 1: to call. Republican senator Ron Johnson leads to Democrat Mandela 55 00:02:59,480 --> 00:03:04,280 Speaker 1: Barnesty points six percent to forty nine percent. That's of 56 00:03:04,280 --> 00:03:06,560 Speaker 1: the vote counted, and we have results from a handful 57 00:03:06,560 --> 00:03:08,560 Speaker 1: of races for governor as well. Karen, Let's begin in 58 00:03:08,600 --> 00:03:12,280 Speaker 1: New York, where Democrat Kathy Hokel has defeated Republican Lee Zelden. 59 00:03:12,480 --> 00:03:15,519 Speaker 1: Bloomberg's Michael Barr continues our election team coverage live in 60 00:03:15,639 --> 00:03:19,480 Speaker 1: New York. Michael, thank you very much. Nathan. Democrat Kathy 61 00:03:19,560 --> 00:03:23,400 Speaker 1: Hokel has become the first woman elected New York governor, 62 00:03:23,440 --> 00:03:27,119 Speaker 1: winning the office outright. Hokel took over in one when 63 00:03:27,120 --> 00:03:30,920 Speaker 1: former Governor Andrew Cuomo resigned. Hocle defeated Lee Zelden, who 64 00:03:31,000 --> 00:03:34,200 Speaker 1: ran a campaign focused on fear of violent crime. She 65 00:03:34,320 --> 00:03:36,920 Speaker 1: thanks the porters last night. I want to speak directly 66 00:03:36,960 --> 00:03:42,640 Speaker 1: to New Yorker's tonight. You major voices heard loud and clear. 67 00:03:45,400 --> 00:03:49,080 Speaker 1: Hokel got nearly fifty three percent of the vote. Zelden 68 00:03:49,160 --> 00:03:53,080 Speaker 1: received just overent. However, Zelden is not conceding. And other 69 00:03:53,200 --> 00:03:56,640 Speaker 1: races called by a p for the Senate, Chuck Schumer 70 00:03:56,880 --> 00:04:02,000 Speaker 1: beat Republican challenger Joe Pinion fifty six percent in Connecticut, 71 00:04:02,000 --> 00:04:08,240 Speaker 1: incumbent Democratic Governor Ed Lamont, the Republican challenger Robert Stevanos, 72 00:04:08,360 --> 00:04:11,680 Speaker 1: U S Senator Richard Bloemhal won his re election over 73 00:04:11,760 --> 00:04:18,200 Speaker 1: Republican Leora Levy percent in New York. Michael Barr Bloomberg Radio, 74 00:04:18,520 --> 00:04:21,119 Speaker 1: Karen Nathan, all right, Michael's thank you well the Parry 75 00:04:21,120 --> 00:04:23,640 Speaker 1: governors who have eyes on the White House for victorious 76 00:04:23,760 --> 00:04:26,719 Speaker 1: last night. Republican run de Santis in Florida and Democrat 77 00:04:26,760 --> 00:04:30,000 Speaker 1: Gavin Newsom in California both handily won re election to 78 00:04:30,080 --> 00:04:34,000 Speaker 1: Santa's feat Democratic challenger Charlie christ garnering sixty of the vote. 79 00:04:34,040 --> 00:04:37,719 Speaker 1: In Florida, I believe the survival of the American experiment 80 00:04:38,160 --> 00:04:44,160 Speaker 1: requires a revival of true American principles. Florida has proved 81 00:04:44,360 --> 00:04:47,080 Speaker 1: that it can be done, and that victory speech from 82 00:04:47,120 --> 00:04:50,120 Speaker 1: De Santis did not mention Donald Trump or speculation that 83 00:04:50,120 --> 00:04:53,320 Speaker 1: he'll run for president. In California, Newsom easily defeated his 84 00:04:53,320 --> 00:04:57,719 Speaker 1: Republican challenger, Brian Dolly, with almost sixty of the vote. Overall, Careen, 85 00:04:57,760 --> 00:05:00,240 Speaker 1: there were thirty six races for governor this year. Let's 86 00:05:00,279 --> 00:05:03,080 Speaker 1: get more on those highlights now Live from Bloomberg's John Tucker, 87 00:05:03,160 --> 00:05:05,760 Speaker 1: Good Morning John, and Nathan. Democrats pulled out wins in 88 00:05:05,800 --> 00:05:09,920 Speaker 1: some key states. In Michigan, Democrat Gretchen Whitmer defeating Republican 89 00:05:09,960 --> 00:05:13,279 Speaker 1: Tudor Dixon with fifty three percent of the vote. Democrats 90 00:05:13,320 --> 00:05:18,360 Speaker 1: John Shapiro wanting in Pennsylvania, beating Republican Doug Mastriano withcent 91 00:05:18,440 --> 00:05:22,120 Speaker 1: of the vote. Wisconsin, incumbent democarrent governor Tony Evers got 92 00:05:22,160 --> 00:05:24,800 Speaker 1: fifty one percent of the votes to win over Republican 93 00:05:24,920 --> 00:05:30,159 Speaker 1: Tim Michaels. Colorado's Democratic governor Jared Poulis garnered fifty seven 94 00:05:30,160 --> 00:05:33,320 Speaker 1: percent of the vote to beat the Republican heideganal. In 95 00:05:33,400 --> 00:05:37,480 Speaker 1: New Mexico, Democrat Michelle LeJean Grisham beat Republican Mark and 96 00:05:37,560 --> 00:05:41,039 Speaker 1: Chetty with fifty two percent of the votes. Illinois g JV. 97 00:05:41,200 --> 00:05:45,360 Speaker 1: Prisker defeated Trump back Republican Darren Bailey with fifty fo 98 00:05:45,480 --> 00:05:49,160 Speaker 1: percent of the vote. In Georgia, Republican governor Brian Kent 99 00:05:49,320 --> 00:05:52,280 Speaker 1: got fifty three percent of the vote to beat Democrats 100 00:05:52,279 --> 00:05:55,279 Speaker 1: Stacy Abrams. And finally, a key governor's race yet to 101 00:05:55,279 --> 00:05:59,479 Speaker 1: be decided in Arizona, Democrat Katie Hobbs currently leads Trump 102 00:05:59,480 --> 00:06:02,480 Speaker 1: back repl booking carry Lake fifty one point three percent 103 00:06:02,800 --> 00:06:06,080 Speaker 1: to forty eight point seven percent. Just under sixty one 104 00:06:06,160 --> 00:06:10,279 Speaker 1: percent of votes have been counted so far. Karen, Nathan, Sorry, John, 105 00:06:10,320 --> 00:06:12,320 Speaker 1: thank you all. Overall, it was a historic night at 106 00:06:12,320 --> 00:06:14,640 Speaker 1: the polls. More women than ever ran for governor, more 107 00:06:14,640 --> 00:06:17,680 Speaker 1: Black women ran for Congress, and more LGBTQ people vied 108 00:06:17,760 --> 00:06:20,039 Speaker 1: for a spot in the House or Senate. As you 109 00:06:20,080 --> 00:06:22,920 Speaker 1: mentioned before, Kathy Hoco became the first woman elected governor 110 00:06:22,960 --> 00:06:25,440 Speaker 1: in New York and Massachusetts. Maria Healey will be the 111 00:06:25,480 --> 00:06:27,919 Speaker 1: first woman elected to serve as that stays governor, and 112 00:06:28,000 --> 00:06:31,600 Speaker 1: Democrat Westmore will be Maryland's first black governor. And Republicans 113 00:06:31,640 --> 00:06:34,440 Speaker 1: Sarah Huckabee Sanders has become the first woman elected to 114 00:06:34,480 --> 00:06:37,719 Speaker 1: serve as governor of Arkansas. Abortion rights around the ballot 115 00:06:37,720 --> 00:06:41,000 Speaker 1: in several states as well. Karen, California, Michigan, and Vermont 116 00:06:41,000 --> 00:06:44,320 Speaker 1: all voted to enshrine the right to abortion in their constitutions. 117 00:06:44,360 --> 00:06:46,640 Speaker 1: On the flip side, Kentucky and Montana have measures on 118 00:06:46,680 --> 00:06:49,640 Speaker 1: the ballot to limit abortion access. Votes on those initiatives 119 00:06:49,680 --> 00:06:52,040 Speaker 1: are still too close to call. Currently fifty two and 120 00:06:52,080 --> 00:06:54,080 Speaker 1: a half percent of voters in Kentucky have said not 121 00:06:54,160 --> 00:06:56,400 Speaker 1: to limit abortion access, with eighty six percent of the 122 00:06:56,480 --> 00:06:59,200 Speaker 1: vote counted. The trend is similar in Montana. We're nearly 123 00:06:59,240 --> 00:07:01,840 Speaker 1: fifty three and voted not to live in abortions. Just 124 00:07:03,040 --> 00:07:05,960 Speaker 1: votes are counted there. And in the interrance of transparency, 125 00:07:06,000 --> 00:07:08,320 Speaker 1: we should note that Michael Larr Bloomberg, the majority owner 126 00:07:08,320 --> 00:07:11,480 Speaker 1: of Bloomberg Radio parent Bloomberg LP, was a major donor 127 00:07:11,520 --> 00:07:15,280 Speaker 1: to Democratic candidates and causes this election cycle. Straight ahead 128 00:07:15,280 --> 00:07:18,080 Speaker 1: your latest local headlines plus a check of sports, and 129 00:07:18,320 --> 00:07:24,640 Speaker 1: this is Bloomberg. Thanks gain Karen. It is six oh 130 00:07:24,640 --> 00:07:27,720 Speaker 1: seven on Wall Street where forty degrees in Central Park. 131 00:07:27,760 --> 00:07:29,600 Speaker 1: Michael bars back with what else is going on in 132 00:07:29,640 --> 00:07:32,200 Speaker 1: New York and around the world. Michael, thank you very much. Nathan. 133 00:07:32,240 --> 00:07:35,840 Speaker 1: Taking a look at other local races and results, Republican 134 00:07:35,920 --> 00:07:39,120 Speaker 1: Tom Kane won the house race in New Jersey seventh 135 00:07:39,120 --> 00:07:44,400 Speaker 1: Congressional district, beating Democratic incumbent Tom Melanowski came got fifty 136 00:07:44,440 --> 00:07:47,280 Speaker 1: two percent of the vote. Kane, a former state senator, 137 00:07:47,440 --> 00:07:52,120 Speaker 1: narrowly lost to Malanowski in a house race. Also in 138 00:07:52,120 --> 00:07:55,160 Speaker 1: New Jersey, Democrat Mikey Cheryl won another term in the 139 00:07:55,240 --> 00:07:58,720 Speaker 1: US House, beating the GOP's Tom the Groot. Cheryl received 140 00:07:58,760 --> 00:08:04,200 Speaker 1: fifty eight percent. Democratic Representative Josh Gottheimer beat Republican challenger 141 00:08:04,280 --> 00:08:07,840 Speaker 1: Frank Pallatta. Gotdheimer received more than fifty four percent of 142 00:08:07,840 --> 00:08:10,920 Speaker 1: the vote. Taking a look now at more races in 143 00:08:10,960 --> 00:08:14,640 Speaker 1: New York, Republican Nicole Maliatakas has one re election to 144 00:08:14,680 --> 00:08:18,040 Speaker 1: the House in New York's eleventh Congressional district, after defeating 145 00:08:18,080 --> 00:08:21,040 Speaker 1: Max Rose. She gave a victory speech to her supporters 146 00:08:21,160 --> 00:08:43,120 Speaker 1: last night about to retire. He was a valerie. Perhaps 147 00:08:43,120 --> 00:08:51,400 Speaker 1: you were able to retire. Aliatakas got sixty two percent 148 00:08:51,440 --> 00:08:56,160 Speaker 1: of the vote. Democrat Alexandria Ocassio Cortez has one another 149 00:08:56,320 --> 00:08:59,839 Speaker 1: House term, easily beating her Republican opponent, Tina Forte with 150 00:09:00,120 --> 00:09:03,160 Speaker 1: more than seventy of the vote. Some House races in 151 00:09:03,200 --> 00:09:06,839 Speaker 1: New York are too close to call. Republican Marcus Mullanaro 152 00:09:07,000 --> 00:09:09,880 Speaker 1: and Democrat Josh Riley are in a tight race for 153 00:09:09,920 --> 00:09:14,480 Speaker 1: New York's nineteenth district, separated by just one point two percent. 154 00:09:14,559 --> 00:09:18,600 Speaker 1: Molan is currently in the league. Republican Michael Lawler is 155 00:09:18,640 --> 00:09:22,880 Speaker 1: slightly ahead of Democrats Sean Patrick Maloney in the seventeenth district. 156 00:09:23,240 --> 00:09:26,679 Speaker 1: They are separated by just eight tenths of a percent. 157 00:09:27,160 --> 00:09:29,520 Speaker 1: In Connecticut, it is too close to call for the 158 00:09:29,559 --> 00:09:34,080 Speaker 1: House seat between Democratic incumbent Johannah Hayes and Republican George 159 00:09:34,120 --> 00:09:39,320 Speaker 1: Logan with count it, it's Hayes to Logan at forty. 160 00:09:40,840 --> 00:09:43,080 Speaker 1: There is another story that is important that we have 161 00:09:43,120 --> 00:09:45,600 Speaker 1: to tell you about. North Korea fired a short range 162 00:09:45,600 --> 00:09:50,160 Speaker 1: ballistic missile toward waters off its east coast today. According 163 00:09:50,200 --> 00:09:53,440 Speaker 1: to Japan, the missile flew about two fifty kilometers. It 164 00:09:53,559 --> 00:09:57,079 Speaker 1: apparently landed outside of Japan's Exclusive economic zone, and there 165 00:09:57,120 --> 00:10:00,120 Speaker 1: have been no reports of damage. Global News it was 166 00:10:00,160 --> 00:10:03,120 Speaker 1: twenty four hours a day on air and on Bloomberg 167 00:10:03,200 --> 00:10:06,959 Speaker 1: Quick Take, powered by more than seven under journalists and 168 00:10:06,960 --> 00:10:10,280 Speaker 1: antalists in more than one d twenty countries. I'm Michael 169 00:10:10,320 --> 00:10:18,040 Speaker 1: barn This is Bloomberg. Thanks Michael six cent on Wall 170 00:10:18,080 --> 00:10:19,880 Speaker 1: Street Town for the Bloomberg Sports update, brought to you 171 00:10:19,920 --> 00:10:22,280 Speaker 1: by tri State out He here's John Stesshion. All right, Nathan, 172 00:10:22,280 --> 00:10:24,840 Speaker 1: there are three New York Area hockey teams. Two are 173 00:10:24,880 --> 00:10:27,480 Speaker 1: hop the Rangers are not. Blue Shirts lost their third 174 00:10:27,559 --> 00:10:30,440 Speaker 1: arrow at the Garden. The Islanders rallied for three third 175 00:10:30,440 --> 00:10:32,439 Speaker 1: period goals to win four to three, and they've now 176 00:10:32,480 --> 00:10:35,400 Speaker 1: won seven of their last eight. The Devils have won 177 00:10:35,480 --> 00:10:37,920 Speaker 1: all of their last seven of division, leading ten and 178 00:10:38,040 --> 00:10:40,960 Speaker 1: three three to home went over Calgary, and the Devil's 179 00:10:41,000 --> 00:10:44,280 Speaker 1: doing this without goalie Mackenzie Blackwood. He's gonna miss three 180 00:10:44,280 --> 00:10:46,920 Speaker 1: to six weeks knee injury, and their big off season 181 00:10:47,000 --> 00:10:50,240 Speaker 1: pick up Andre Polot is out eight to ten weeks injured. 182 00:10:50,320 --> 00:10:54,280 Speaker 1: Drawing Nixon nets tonight at Barkley's first meeting of the season, 183 00:10:54,360 --> 00:10:58,959 Speaker 1: the Kyrie Irving suspension continues. Irving met yesterday with NBA 184 00:10:59,000 --> 00:11:01,320 Speaker 1: Commissioner Adams Silver. It was said to have been a 185 00:11:01,360 --> 00:11:05,280 Speaker 1: productive meeting. Just as Jacob gram made his free agency official, 186 00:11:05,360 --> 00:11:08,280 Speaker 1: the Mettrs said to have begun talks with his agent, 187 00:11:08,320 --> 00:11:11,240 Speaker 1: Anthony whoso may stick with the Yankees. They tendered him 188 00:11:11,240 --> 00:11:14,199 Speaker 1: a qualifying offer so he could stay. He'd make about 189 00:11:14,280 --> 00:11:16,719 Speaker 1: nineteen and a half million if he leads as a 190 00:11:16,760 --> 00:11:20,120 Speaker 1: free agent. Yanks would get a draft pick compensation. College 191 00:11:20,160 --> 00:11:23,520 Speaker 1: football play after many stop born this way, Georgia, Ohio State, 192 00:11:23,760 --> 00:11:27,760 Speaker 1: Michigan TCU all Board nine and oh Tennessee lost to 193 00:11:27,800 --> 00:11:30,760 Speaker 1: Georgia fell from first down the fifth. Alabama lost at 194 00:11:30,840 --> 00:11:33,440 Speaker 1: L s U and dropped the ninth, and Clemson lost 195 00:11:33,440 --> 00:11:36,360 Speaker 1: at Notre Dame and went from third down to tenth. 196 00:11:36,600 --> 00:11:40,000 Speaker 1: Indianapolis Colts just made the coaching change and now they 197 00:11:40,080 --> 00:11:43,760 Speaker 1: have said that thirty year old Parks Fraser will call 198 00:11:43,880 --> 00:11:46,880 Speaker 1: the plays Sunday. He was the assistant QB coach. He's 199 00:11:46,920 --> 00:11:50,440 Speaker 1: never before called plays. John Stashar, Bloomberg Sports, Nathan John, 200 00:11:50,440 --> 00:11:52,560 Speaker 1: This red headline just a crossed the Bloomberg terminal. Facebook 201 00:11:52,559 --> 00:11:56,120 Speaker 1: parent Meta Platforms confirms more than eleven thousand job cuts 202 00:11:56,120 --> 00:11:59,440 Speaker 1: and the hiring freeze through the first quarter. Meta shares 203 00:11:59,640 --> 00:12:03,679 Speaker 1: up three point four percent in early trading. This is Bloomberg. 204 00:12:07,080 --> 00:12:09,560 Speaker 1: Bloomberg Sports was brought to you by Audie. Don't let 205 00:12:09,559 --> 00:12:11,839 Speaker 1: someone else drive off in the Audi model. You've always 206 00:12:11,840 --> 00:12:13,839 Speaker 1: wanted to visit your local price State Audie Dealer to 207 00:12:13,880 --> 00:12:16,120 Speaker 1: get behind the wheel of yours today, or visit Audie 208 00:12:16,120 --> 00:12:24,000 Speaker 1: Offers dot Com from more information, markets, headlines and breaking 209 00:12:24,000 --> 00:12:26,920 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 210 00:12:27,000 --> 00:12:30,640 Speaker 1: the Bloomberg Business Atland at Bloomberg Quick Tape, He's a 211 00:12:30,679 --> 00:12:39,960 Speaker 1: Bloomberg Business Flash and I'm Karen Moscow and we are 212 00:12:39,960 --> 00:12:43,920 Speaker 1: watching shares of Facebook parent meta platforms this morning. They 213 00:12:44,000 --> 00:12:48,280 Speaker 1: are currently up about three percent in early trading. Chief 214 00:12:48,280 --> 00:12:51,160 Speaker 1: executive Mark Zuckerberg saying the company will cut more than 215 00:12:51,200 --> 00:12:53,880 Speaker 1: eleven thousand jobs in the first major round of layoffs 216 00:12:53,880 --> 00:12:57,400 Speaker 1: in the social media giants history. The reductions equal about 217 00:12:57,960 --> 00:13:02,120 Speaker 1: pent of the workforce. Meanwhile, futures are now little changed 218 00:13:02,160 --> 00:13:05,439 Speaker 1: following the mid terms. SMP futures again that will change 219 00:13:05,440 --> 00:13:08,640 Speaker 1: now features down sixty five and nasdack future is little changed. 220 00:13:08,840 --> 00:13:11,679 Speaker 1: The decks in Germany is down about half percent. Ten 221 00:13:11,760 --> 00:13:14,120 Speaker 1: year treasury down to thirty seconds. You have four point 222 00:13:14,120 --> 00:13:16,280 Speaker 1: one three percent, may yield them a two year four 223 00:13:16,320 --> 00:13:19,640 Speaker 1: point six six percent. Nimex screwed oil is down half 224 00:13:19,679 --> 00:13:21,680 Speaker 1: per cent or forty five cents and eighty eight dollars 225 00:13:21,679 --> 00:13:24,360 Speaker 1: forty six cents of barrel Comx goal down two tenths 226 00:13:24,360 --> 00:13:26,920 Speaker 1: per centers three dollars at seventeen twelve eighty and ounce. 227 00:13:27,280 --> 00:13:30,080 Speaker 1: The euro one point zero zero five nine against the dollar, 228 00:13:30,160 --> 00:13:32,640 Speaker 1: British bound one point one four six two, the n 229 00:13:32,720 --> 00:13:35,640 Speaker 1: one forty five point six one, and Bitcoin is down 230 00:13:35,679 --> 00:13:39,040 Speaker 1: more than five percent at seventeen thousand seven hundred dollars. 231 00:13:39,360 --> 00:13:41,840 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 232 00:13:41,840 --> 00:13:44,240 Speaker 1: more on what's going on around the world. Michael, thank 233 00:13:44,280 --> 00:13:46,920 Speaker 1: you very much, Karen. Many votes are still being counted 234 00:13:46,920 --> 00:13:50,400 Speaker 1: from Tuesday's mid term elections, but Republicans are still favorites 235 00:13:50,440 --> 00:13:54,120 Speaker 1: to take back the House. Speaking at an election night 236 00:13:54,240 --> 00:13:57,760 Speaker 1: event in Washington, d C. House Minority Leader Kevin McCarthy 237 00:13:57,800 --> 00:14:01,720 Speaker 1: was very confident, thank you to everyone who voted Republican 238 00:14:01,880 --> 00:14:08,200 Speaker 1: for the very first time. Democrat John Federman will be 239 00:14:08,240 --> 00:14:11,439 Speaker 1: the next Senator from Pennsylvania, meeting as a Republican opponent. 240 00:14:11,559 --> 00:14:16,719 Speaker 1: Dr memidaz Federment addressed supporters in Pittsburgh overnight, describing as 241 00:14:16,800 --> 00:14:20,480 Speaker 1: campaign six months after he suffered a stroke. This campaign 242 00:14:20,520 --> 00:14:23,080 Speaker 1: has always been about fighting for everyone who's ever been 243 00:14:23,120 --> 00:14:27,600 Speaker 1: got knockdown, that ever got back up. Democrat Cathy HOCl 244 00:14:27,640 --> 00:14:31,320 Speaker 1: has become the first woman elected New York governor, winning 245 00:14:31,320 --> 00:14:35,720 Speaker 1: the office outright. Hokel took over here one when former 246 00:14:35,720 --> 00:14:40,200 Speaker 1: Governor Andrew Cuomo resigned. Hocal defeated Republican Congressman Lee Zelden, 247 00:14:40,240 --> 00:14:43,360 Speaker 1: who ran a campaign focus on fear of violent crime. 248 00:14:43,720 --> 00:14:46,360 Speaker 1: In Texas, Governor Greg Abbott fended off a challenge from 249 00:14:46,400 --> 00:14:50,840 Speaker 1: Democrat Beto O'Rourke. Governor Abbott addressed supporters pointing to border 250 00:14:50,840 --> 00:14:53,080 Speaker 1: security as one of the main issues driving votes in 251 00:14:53,120 --> 00:14:56,400 Speaker 1: his state. Abbott also says we must never forget our 252 00:14:56,440 --> 00:15:01,080 Speaker 1: schools are for education, not indoctrination. Global News twenty four 253 00:15:01,120 --> 00:15:04,680 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 254 00:15:04,680 --> 00:15:08,600 Speaker 1: by more than under journalist and analysts more than twenty countries. 255 00:15:08,800 --> 00:15:11,440 Speaker 1: I'm Michael barn This is Bloomberg, Nathan. Thank you, Michael. 256 00:15:11,440 --> 00:15:13,640 Speaker 1: It's six twenty on Wall Street Line from the Bloomberg 257 00:15:13,640 --> 00:15:16,680 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak and for more 258 00:15:16,680 --> 00:15:19,680 Speaker 1: post election analysis, We're joined live by Wendy Schiller, director 259 00:15:19,720 --> 00:15:22,800 Speaker 1: of the Topman Center for American Politics and Policy at 260 00:15:22,800 --> 00:15:25,560 Speaker 1: Brown University. Professor, It's always great to speak with you, 261 00:15:25,640 --> 00:15:28,560 Speaker 1: particularly after an election day. And I think we heard 262 00:15:28,560 --> 00:15:33,160 Speaker 1: from Republican Senator Lindsey Graham last night saying this doesn't 263 00:15:33,200 --> 00:15:35,840 Speaker 1: look like a red wave to me. What does this 264 00:15:35,880 --> 00:15:39,720 Speaker 1: election look like to you? Professor? Good morning, Athan, Um, 265 00:15:39,760 --> 00:15:42,880 Speaker 1: it looked people are gonna find a surprising, like a 266 00:15:42,920 --> 00:15:47,920 Speaker 1: pretty normal mid term election, because in midchem elections, people 267 00:15:48,080 --> 00:15:52,360 Speaker 1: take their anger frustration against the Party of the White House, 268 00:15:52,360 --> 00:15:54,680 Speaker 1: where you know, owns the White House, and they go 269 00:15:54,840 --> 00:15:56,640 Speaker 1: and they're mobilized a vote to sort of send a 270 00:15:56,680 --> 00:15:58,840 Speaker 1: signal saying we don't like what you've done and we 271 00:15:58,920 --> 00:16:02,240 Speaker 1: want you to change. What's interesting here is so many 272 00:16:02,440 --> 00:16:06,160 Speaker 1: races dependent on individual candidates and really were state specific. 273 00:16:06,440 --> 00:16:09,120 Speaker 1: So you saw in places where governors did well as 274 00:16:09,240 --> 00:16:11,560 Speaker 1: long as they lifted up the Senate candidate. I think 275 00:16:11,560 --> 00:16:14,400 Speaker 1: you make that argument. In Pennsylvania with Fetterman and josh A. 276 00:16:14,440 --> 00:16:16,880 Speaker 1: Piro ran for governor, you know, he kind of he 277 00:16:17,360 --> 00:16:19,800 Speaker 1: won big, and I think that had to have helped betterment. 278 00:16:19,840 --> 00:16:21,880 Speaker 1: Even in our little state of Rhode Island, we had 279 00:16:21,880 --> 00:16:23,840 Speaker 1: a governor that won by a much bigger margin than 280 00:16:23,880 --> 00:16:26,720 Speaker 1: people expected, and the Democrat eked out of victory in 281 00:16:26,760 --> 00:16:29,480 Speaker 1: the congressional district where he was expected to lose based 282 00:16:29,480 --> 00:16:33,920 Speaker 1: on polling. So some really traditional electoral dynamics at play here, 283 00:16:34,160 --> 00:16:39,360 Speaker 1: party machines, organization, turnout um, and individual candidate quality. Uh So, 284 00:16:39,480 --> 00:16:42,400 Speaker 1: given the inflation numbers and the perception that the economy 285 00:16:42,520 --> 00:16:44,680 Speaker 1: is bad or that it will get bad, you know, 286 00:16:44,720 --> 00:16:47,040 Speaker 1: that's something else we can talk about Um, you would 287 00:16:47,040 --> 00:16:49,880 Speaker 1: have expected that problems do better. And in some cases 288 00:16:49,960 --> 00:16:53,520 Speaker 1: it looks like either the individual candidate or the reputation 289 00:16:53,600 --> 00:16:56,360 Speaker 1: for what the Republicans would do once they captured Congress 290 00:16:56,560 --> 00:16:58,880 Speaker 1: got in their way last night. Now, it's interesting that 291 00:16:58,960 --> 00:17:02,880 Speaker 1: you framed this is a normal mid term election result, 292 00:17:03,000 --> 00:17:06,240 Speaker 1: because I think we've talked before about the last few 293 00:17:06,240 --> 00:17:10,040 Speaker 1: election cycles. You think about former President Donald Trump, former 294 00:17:10,080 --> 00:17:13,640 Speaker 1: President Barack Obama two years into the their terms. Uh. 295 00:17:13,920 --> 00:17:16,919 Speaker 1: Former President Obama at the time called the result against 296 00:17:16,960 --> 00:17:22,159 Speaker 1: the Democrats then a shellacking. We didn't get that this time. No, 297 00:17:22,600 --> 00:17:24,680 Speaker 1: but but think about that. You know, you're mentioning really 298 00:17:24,880 --> 00:17:27,440 Speaker 1: key points in political history for the United States. Plus, 299 00:17:28,600 --> 00:17:30,560 Speaker 1: of course New Kingbridge is a big victory capturing the 300 00:17:30,600 --> 00:17:33,640 Speaker 1: House in the Senate, but those are some those are big, 301 00:17:33,680 --> 00:17:37,600 Speaker 1: big mid term election waves. And so this this, I mean, 302 00:17:37,840 --> 00:17:41,080 Speaker 1: you would think that the Republicans should have done better. Uh. 303 00:17:41,119 --> 00:17:43,080 Speaker 1: And they're probably gonna win the control of the House, 304 00:17:43,119 --> 00:17:45,840 Speaker 1: but not by a lot. And we know that when 305 00:17:45,920 --> 00:17:49,280 Speaker 1: majorities have narrow when parties have now majorities, it's tough 306 00:17:49,320 --> 00:17:51,720 Speaker 1: to govern and tough to get things done. Uh, and 307 00:17:51,800 --> 00:17:54,640 Speaker 1: usually embolden some wing of the party left or right. 308 00:17:55,040 --> 00:17:57,760 Speaker 1: So that's going to be tough roads from McCarthy. Uh. 309 00:17:57,800 --> 00:17:59,760 Speaker 1: And so you look at it. But what I mean 310 00:17:59,760 --> 00:18:03,159 Speaker 1: by normal, I mean the fundamentals of American politics and 311 00:18:03,240 --> 00:18:05,520 Speaker 1: you know, the idea of democracy dying. Some people are 312 00:18:05,640 --> 00:18:08,280 Speaker 1: very concerned about voting rights and turn out. Uh. And 313 00:18:08,320 --> 00:18:11,320 Speaker 1: we saw that for the for the majority of election 314 00:18:11,359 --> 00:18:14,919 Speaker 1: deniers at the highest level. We still to wait for Arizona. 315 00:18:15,240 --> 00:18:17,520 Speaker 1: You know, they were rejected by voters. So I think 316 00:18:17,520 --> 00:18:20,160 Speaker 1: that's a really important thing and big turn out, right, 317 00:18:20,200 --> 00:18:22,200 Speaker 1: and we are still waiting for a concession as well 318 00:18:22,240 --> 00:18:25,560 Speaker 1: from Republican Lees Eldon, who was backed by former President 319 00:18:25,560 --> 00:18:28,119 Speaker 1: Trump in New York. And you mentioned the race in 320 00:18:28,240 --> 00:18:31,679 Speaker 1: Arizona as well. Do you have any lingering concerns that 321 00:18:31,720 --> 00:18:34,800 Speaker 1: we could see a fight over election integrity in some 322 00:18:34,920 --> 00:18:38,760 Speaker 1: of those closely watched races. Sure, I mean I think 323 00:18:38,760 --> 00:18:41,800 Speaker 1: where we won't see that is Georgia. There may be lawsuits, 324 00:18:41,800 --> 00:18:44,080 Speaker 1: but we've seen Kemp and Rapsonsburg as a team before 325 00:18:44,080 --> 00:18:48,720 Speaker 1: in um most certainly defending the system. And so since 326 00:18:48,800 --> 00:18:51,520 Speaker 1: Kemp won by a big margin, I can't see I 327 00:18:51,560 --> 00:18:55,000 Speaker 1: can't see Georgia being nearly as contested. But Arizona, you know, 328 00:18:55,119 --> 00:18:57,840 Speaker 1: looks very dacy, I think in that respect, and well 329 00:18:57,920 --> 00:18:59,919 Speaker 1: and Donald, that's how a bad night. In other ways, 330 00:19:00,200 --> 00:19:02,160 Speaker 1: may it made a lot of games in Nevada over 331 00:19:02,160 --> 00:19:04,560 Speaker 1: the years in terms of their their voting strength. It 332 00:19:04,600 --> 00:19:07,800 Speaker 1: looks like those games have disappeared. It looks like that 333 00:19:07,840 --> 00:19:09,720 Speaker 1: both the Senate and the governor's seat are going to 334 00:19:09,760 --> 00:19:12,280 Speaker 1: go Republican. We don't know quite yet. And Arizona has 335 00:19:12,280 --> 00:19:14,240 Speaker 1: always been sort of a deep red state and sort 336 00:19:14,240 --> 00:19:16,480 Speaker 1: of purple, and now it looks like it's sliding back 337 00:19:16,720 --> 00:19:19,159 Speaker 1: to rhet So I think there are a lot of 338 00:19:19,280 --> 00:19:22,200 Speaker 1: races in those pick up states. I think for Democrats 339 00:19:22,280 --> 00:19:26,000 Speaker 1: recently in presidential elections look much diicier for four On 340 00:19:26,040 --> 00:19:28,800 Speaker 1: the other hand, Michigan held their governorship for the Democrats, 341 00:19:28,840 --> 00:19:32,320 Speaker 1: and Wisconsin and Pennsylvania. Uh, And you know that that 342 00:19:32,400 --> 00:19:35,959 Speaker 1: tells you something about just how contested American politics is. 343 00:19:36,040 --> 00:19:39,680 Speaker 1: And rather than being depressed about polarization, we can also 344 00:19:39,720 --> 00:19:42,920 Speaker 1: look at it saying that we're vibrant, were competitive, and 345 00:19:43,000 --> 00:19:45,760 Speaker 1: for the most part, most of the electoral results will 346 00:19:45,800 --> 00:19:48,920 Speaker 1: be accepted peacefully. And I think that's a very key 347 00:19:48,920 --> 00:19:52,119 Speaker 1: takeaway from this election. Now we're speaking with Wendy Schiller, 348 00:19:52,200 --> 00:19:54,800 Speaker 1: the director of the Topman Center for American Politics and 349 00:19:54,840 --> 00:19:58,320 Speaker 1: Policy at Brown University in Rhode Island. You know, the 350 00:19:58,359 --> 00:20:01,359 Speaker 1: morning after any election, Professor, we think about what the 351 00:20:01,400 --> 00:20:04,400 Speaker 1: mandate is for either party. When we have this kind 352 00:20:04,400 --> 00:20:08,120 Speaker 1: of narrow result for Republicans and a better than expected 353 00:20:08,160 --> 00:20:12,720 Speaker 1: result for Democrats, even if they go into a divided 354 00:20:12,760 --> 00:20:16,639 Speaker 1: government here, what is the mandate for either party? I 355 00:20:16,680 --> 00:20:19,439 Speaker 1: think the mandate comes from looking at independent voters and 356 00:20:19,560 --> 00:20:23,280 Speaker 1: how they visit ibk R dot com slash interest rates 357 00:20:23,320 --> 00:20:27,159 Speaker 1: to learn more. Up first, Republicans made gains in the 358 00:20:27,200 --> 00:20:30,040 Speaker 1: House this mid term election cycle, but control of the 359 00:20:30,080 --> 00:20:33,639 Speaker 1: Senate hangs in the balance. Democrats flipped a key Senate 360 00:20:33,720 --> 00:20:37,520 Speaker 1: race in Pennsylvania, with Democrat John Federman defeating Republican memit 361 00:20:37,600 --> 00:20:41,360 Speaker 1: Oz has always been about fighting for everyone who's ever 362 00:20:41,400 --> 00:20:47,439 Speaker 1: been knocked lockdown, and Democrat John Fetterman, who has been 363 00:20:47,520 --> 00:20:50,320 Speaker 1: recovering from a stroke, one with fifty point one percent 364 00:20:50,359 --> 00:20:52,560 Speaker 1: of the vote. In Ohio, Kare and Republican j d 365 00:20:52,720 --> 00:20:55,480 Speaker 1: Vance defeated Democrat Tim Ryan for a Senate sea garner 366 00:20:56,200 --> 00:20:59,479 Speaker 1: percent of the vote. Democrat Maggie Hassant got fifty when 367 00:20:59,520 --> 00:21:03,159 Speaker 1: you Hampshire Senate seat over Republican Don Bulldock. Meanwhile, Wisconsin, 368 00:21:03,440 --> 00:21:07,080 Speaker 1: Wisconsin's too close to call. Republican Senator Ron Johnson leads 369 00:21:07,119 --> 00:21:10,359 Speaker 1: Democratic challenger Mandela Barnes with fifty point six percent and 370 00:21:10,359 --> 00:21:12,600 Speaker 1: it's still too close to call as well in Georgia, 371 00:21:12,680 --> 00:21:16,240 Speaker 1: with Democratic Senator Raphael Warnock leading Republican Herschel Walker with 372 00:21:16,400 --> 00:21:19,560 Speaker 1: forty percent of the vote. Well, New York, Nathan Democrat 373 00:21:19,640 --> 00:21:23,119 Speaker 1: kathycho Hoco was elected governor, which just under fifty three 374 00:21:23,160 --> 00:21:27,400 Speaker 1: percent of votes. You made me the first woman ever 375 00:21:27,440 --> 00:21:29,199 Speaker 1: elected to is the governor of the state of New 376 00:21:29,280 --> 00:21:32,440 Speaker 1: York and New York and Democrat Cathy Hokel defeated Republican 377 00:21:32,520 --> 00:21:35,560 Speaker 1: Lee Zelden, who has not conceded the race. In Connecticut, 378 00:21:35,640 --> 00:21:38,600 Speaker 1: Karen Democratic Governor Ned Lamont won fifty five percent to 379 00:21:38,640 --> 00:21:42,960 Speaker 1: beat Republican Bob Stefanowski. Democratic Senator Richard Blumenthal beat Republican 380 00:21:43,040 --> 00:21:46,200 Speaker 1: le Or Levy with fifty six percent. And Florida Nathan 381 00:21:46,240 --> 00:21:50,440 Speaker 1: Republican Rhonda Santas defeated Democrats Harley christ I am honored 382 00:21:50,640 --> 00:21:54,240 Speaker 1: by your support and I look forward to the road ahead. 383 00:21:54,520 --> 00:21:57,720 Speaker 1: Florida Governor Rohnde Santa secured close to sixty percent of votes. 384 00:21:57,800 --> 00:22:01,200 Speaker 1: In California, Governor Gavin Knewsom handily be the Republican challenger 385 00:22:01,240 --> 00:22:04,760 Speaker 1: Brian Dolly, garneringty percent of votes, and the Democrats on 386 00:22:04,880 --> 00:22:08,560 Speaker 1: other governors, Racist Karen Michigan's Gretchen Whitmer defeated Republican Tutor 387 00:22:08,600 --> 00:22:13,240 Speaker 1: Dixon with fifty In Pennsylvania, Democrat Josh Shapiro the Republican 388 00:22:13,280 --> 00:22:17,680 Speaker 1: Dogmaster j with of votes. And Wisconsin's Democratic governor Tony 389 00:22:17,680 --> 00:22:21,800 Speaker 1: Evers won over Republican Tim Michael's garnering of the vote. 390 00:22:22,280 --> 00:22:26,040 Speaker 1: And Arizona's governorship is not decided. Nathan and Democrat Katie 391 00:22:26,040 --> 00:22:29,160 Speaker 1: hobbs Ley's Trump back Republican Kerry Lake to tally there. 392 00:22:31,200 --> 00:22:32,639 Speaker 1: And we want to tell you this in the interest 393 00:22:32,640 --> 00:22:36,480 Speaker 1: of transparency. Michael R. Bloomberg, majority owner of Bloomberg Radio 394 00:22:36,520 --> 00:22:40,240 Speaker 1: parent company Bloomberg LP, was a major donor to Democratic 395 00:22:40,280 --> 00:22:43,280 Speaker 1: candidates this election cycle. And that's the fine things you 396 00:22:43,320 --> 00:22:44,959 Speaker 1: need to know to start your day, brought to you 397 00:22:45,040 --> 00:22:47,320 Speaker 1: by Interactive Brokers. But we're also going to add them 398 00:22:47,359 --> 00:22:50,720 Speaker 1: Meta Platforms. That's the parent company of Facebook has confirmed 399 00:22:50,800 --> 00:22:53,520 Speaker 1: job cuts of about percent and let more than eleven 400 00:22:53,560 --> 00:22:57,680 Speaker 1: thousand of employees. Go CEO Mark Bozuckerberg is also saying 401 00:22:57,680 --> 00:23:01,520 Speaker 1: that they're cutting discretionary spending and extending the hiring freeze 402 00:23:01,920 --> 00:23:05,119 Speaker 1: through the first quarter. And we're looking at meta platforms 403 00:23:05,119 --> 00:23:08,119 Speaker 1: and early trading this morning. It is up three point 404 00:23:08,240 --> 00:23:12,000 Speaker 1: three percent right now. Looking at futures this morning, they're 405 00:23:12,040 --> 00:23:15,000 Speaker 1: little change now. It's in P futures, Nasdack futures, both 406 00:23:15,040 --> 00:23:18,360 Speaker 1: little change now. Future is still lower, down about seventy 407 00:23:18,359 --> 00:23:21,040 Speaker 1: ten year treasury down one thirty second yield four point 408 00:23:21,040 --> 00:23:22,920 Speaker 1: one three percent, in a yield in a two year 409 00:23:23,040 --> 00:23:26,000 Speaker 1: four point six six percent, and I make screwed oils 410 00:23:26,000 --> 00:23:29,040 Speaker 1: down seven tenths of a percent. Straight ahead your latest 411 00:23:29,119 --> 00:23:33,919 Speaker 1: local headlines plus a check of sports, and this is Bloomberg. 412 00:23:38,160 --> 00:23:41,040 Speaker 1: Thank you. Karen sixty three on Wall Street forty degrees 413 00:23:41,160 --> 00:23:43,199 Speaker 1: in Central Park got a crash blocking lane on the 414 00:23:43,200 --> 00:23:46,879 Speaker 1: westbound Belt Parkway at Lefford's Boulevard. Michael Barr is back 415 00:23:46,960 --> 00:23:49,359 Speaker 1: with Morrow What's happening in New York and around the world. 416 00:23:49,359 --> 00:23:52,000 Speaker 1: Good morning, Michael, Good morning Nathan. Taking a look at 417 00:23:52,040 --> 00:23:56,800 Speaker 1: other local race results. In New Jersey, Republican Tom Kine 418 00:23:56,960 --> 00:24:00,920 Speaker 1: won the House race in New jersey seventh Ggressional district, 419 00:24:01,200 --> 00:24:05,679 Speaker 1: beating Democratic incumbent Tom Malanowski. Came got fifty two percent 420 00:24:05,720 --> 00:24:08,760 Speaker 1: of the vote. Kane, a former state senator, narrowly lost 421 00:24:08,760 --> 00:24:13,520 Speaker 1: to Melanowski in a House race. Democrat Mikey Sherrol won 422 00:24:13,560 --> 00:24:16,400 Speaker 1: another term in the US House, beating the GOP's Tom 423 00:24:16,440 --> 00:24:21,320 Speaker 1: de Groot. Cheryl received fifty eight percent. Democratic Representative Josh 424 00:24:21,520 --> 00:24:26,600 Speaker 1: Gottheimer beat Republican challenger Frank Polana. Gotddheimer received more than 425 00:24:26,640 --> 00:24:29,520 Speaker 1: fifty four percent of the vote. Taking a look now 426 00:24:29,560 --> 00:24:33,320 Speaker 1: at more races in New York, Republican Nicole Malaitakas has 427 00:24:33,359 --> 00:24:36,040 Speaker 1: one re election to the House in New York's eleventh 428 00:24:36,040 --> 00:24:39,800 Speaker 1: Congressional district after defeating Max Rose. She gave a victory 429 00:24:39,880 --> 00:25:04,480 Speaker 1: speech to her supporters last night. Retire able to retire, 430 00:25:08,960 --> 00:25:13,159 Speaker 1: valiatak has got sixty two percent of the vote. Democrat 431 00:25:13,240 --> 00:25:17,400 Speaker 1: Alexandria o'cassio Cortez wins another US House term, easily beating 432 00:25:17,440 --> 00:25:22,399 Speaker 1: a Republican opponent, Tina Forte, with more than seventy Democrat 433 00:25:22,640 --> 00:25:27,000 Speaker 1: Kim Jeffreys beat his GOP challenger Uri Devenski with more 434 00:25:27,000 --> 00:25:28,960 Speaker 1: than seventy two percent of the vote for the House. 435 00:25:29,320 --> 00:25:31,760 Speaker 1: Some House races in New York are too close to call. 436 00:25:31,880 --> 00:25:35,760 Speaker 1: Republican Marcus Molinaro and Democrat Josh Riley are in a 437 00:25:35,800 --> 00:25:39,679 Speaker 1: tight race for New York's nineteenth district, separated by just 438 00:25:40,080 --> 00:25:43,520 Speaker 1: one point two percent. Molinaro is currently in the lead. 439 00:25:43,880 --> 00:25:47,479 Speaker 1: Republican Michael Lawler is slightly ahead of Democrat Sean Patrick 440 00:25:47,520 --> 00:25:50,840 Speaker 1: Maloney in the seventeenth district. They are separated by just 441 00:25:51,040 --> 00:25:54,040 Speaker 1: eight tenths of a percent. In Connecticut, it is too 442 00:25:54,080 --> 00:25:56,800 Speaker 1: close to call for the House seat between Democratic incumbent 443 00:25:56,840 --> 00:26:02,280 Speaker 1: Johannah Hayes and Republican George Logan, with counted it's Hayes 444 00:26:03,200 --> 00:26:06,720 Speaker 1: to Logan at forty nine and other news outside of elections. 445 00:26:07,119 --> 00:26:09,920 Speaker 1: South Korea's military says North kree Of fired a short 446 00:26:10,040 --> 00:26:13,479 Speaker 1: range ballistic missile toward waters off its east coast today. 447 00:26:13,960 --> 00:26:17,159 Speaker 1: According to Japan's defense minister, the missile flew about a 448 00:26:17,200 --> 00:26:20,719 Speaker 1: hundred fifty five miles. It apparently landed outside of Japan's 449 00:26:20,760 --> 00:26:24,040 Speaker 1: Exclusive economic zone, and there have been no reports of damage. 450 00:26:24,359 --> 00:26:27,040 Speaker 1: Global News twenty four hours a day on air and 451 00:26:27,200 --> 00:26:30,720 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 452 00:26:30,760 --> 00:26:33,960 Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barron, 453 00:26:34,040 --> 00:26:41,200 Speaker 1: this is Bloomberg, Ain't it appreciated? Michael? Thank you? Six 454 00:26:41,240 --> 00:26:43,280 Speaker 1: thirty six on Wall Street Time for the Bloomberg Sports Up. 455 00:26:43,280 --> 00:26:45,120 Speaker 1: They brought to you by Tri State AUTI with John 456 00:26:45,160 --> 00:26:48,080 Speaker 1: stash Hour. All right, Nathan Nixon Nets tonight at Barkley's 457 00:26:48,160 --> 00:26:50,680 Speaker 1: Nicks coming five and five. That's four and seven, two 458 00:26:50,680 --> 00:26:53,720 Speaker 1: and one since the Kyrie Irving's suspension. That has at 459 00:26:53,800 --> 00:26:56,359 Speaker 1: least two more games to go, maybe longer since the 460 00:26:56,440 --> 00:26:59,639 Speaker 1: Nets laid down those six requirements that Irving must meet 461 00:26:59,680 --> 00:27:02,840 Speaker 1: before the suspension is lifted, although the Celtics Jalen Brown, 462 00:27:03,160 --> 00:27:05,320 Speaker 1: who is the VP of the Players Association, said the 463 00:27:05,440 --> 00:27:08,040 Speaker 1: union is going to appeal what the Nets are doing. 464 00:27:08,080 --> 00:27:11,040 Speaker 1: Irving did meet yesterday with the NBA Commissioner Adam Silver. 465 00:27:11,160 --> 00:27:14,160 Speaker 1: It was termed productive. There's nothing new on the Nets 466 00:27:14,200 --> 00:27:17,200 Speaker 1: reported plans to hire m A. Eudoka as their new coach. 467 00:27:17,280 --> 00:27:20,800 Speaker 1: He's currently suspended by the Celtics. There has been criticism 468 00:27:20,800 --> 00:27:23,960 Speaker 1: of the Nets if they did indeed hire Udoka, and 469 00:27:24,000 --> 00:27:26,600 Speaker 1: they could be having second thought. Jacque Vaughn is the 470 00:27:26,640 --> 00:27:29,040 Speaker 1: interim coach for Now at the Garden third period rally 471 00:27:29,040 --> 00:27:31,280 Speaker 1: by the Islanders. They beat the Rangers four to three. 472 00:27:31,280 --> 00:27:33,919 Speaker 1: Brock Nelson the time goal and then andres Lee they 473 00:27:33,960 --> 00:27:36,120 Speaker 1: go at goal. The Islands won seven or last eight. 474 00:27:36,359 --> 00:27:39,120 Speaker 1: Devils have won seven or row and Nko Histler goal 475 00:27:39,200 --> 00:27:42,399 Speaker 1: third period to beat Calgary pret two. Odell Beckham Jr. 476 00:27:42,400 --> 00:27:44,959 Speaker 1: Hasn't played this season, said who have now recovered from 477 00:27:44,960 --> 00:27:47,280 Speaker 1: the torn a c L he suffered while playing for 478 00:27:47,320 --> 00:27:49,560 Speaker 1: the Rams and last year's Super Bowl. There has been 479 00:27:49,600 --> 00:27:52,600 Speaker 1: talk of a possible return to the Giants, but Cowboys 480 00:27:52,640 --> 00:27:55,639 Speaker 1: owner Jerry Jones said Beckham would look great with a 481 00:27:55,680 --> 00:28:00,119 Speaker 1: star on his homers. One Bloomberg Sports smith John, thank you. 482 00:28:00,480 --> 00:28:02,760 Speaker 1: Six seven on Wall Street. Let's take a look at 483 00:28:02,960 --> 00:28:05,159 Speaker 1: stock some of the names moving in the pre market 484 00:28:05,200 --> 00:28:08,040 Speaker 1: this morning after election Day. We're joined by Bloomberg TV 485 00:28:08,080 --> 00:28:11,679 Speaker 1: anchor and markets correspondent Danny Berger. Of course, we're not 486 00:28:11,760 --> 00:28:15,600 Speaker 1: just looking at election results, Danny, We're watching the continued 487 00:28:15,960 --> 00:28:20,240 Speaker 1: big tech layoff blood bath. Now we got meta platforms 488 00:28:20,280 --> 00:28:24,960 Speaker 1: confirming big job cuts coming. Yeah, exactly. It's it's about 489 00:28:25,560 --> 00:28:29,320 Speaker 1: of the workforce that's over eleven thousand jobs. UM and 490 00:28:29,400 --> 00:28:31,920 Speaker 1: this comes off the back of roughly two weeks ago 491 00:28:32,040 --> 00:28:35,280 Speaker 1: met A results that were much weaker than expected. Shares 492 00:28:35,320 --> 00:28:37,520 Speaker 1: have been down a lot, so I should say UM 493 00:28:37,560 --> 00:28:39,840 Speaker 1: shares are up almost three percent this morning, and it 494 00:28:39,880 --> 00:28:42,360 Speaker 1: does come. It's just sentiment is so negative around them. 495 00:28:42,520 --> 00:28:44,880 Speaker 1: So you know, any bit of positive news, if you 496 00:28:44,880 --> 00:28:47,840 Speaker 1: can call this positive UM is likely to account for 497 00:28:47,880 --> 00:28:52,200 Speaker 1: a pop um. Speaking of accounting, it was remarkable Zuckerberg 498 00:28:52,320 --> 00:28:55,840 Speaker 1: in this statement when he announces these job cuts. To apologize, 499 00:28:55,880 --> 00:28:58,080 Speaker 1: he writes, I know this is tough for everyone, and 500 00:28:58,120 --> 00:29:00,920 Speaker 1: I'm especially sorry to those impact did. I want to 501 00:29:00,920 --> 00:29:03,960 Speaker 1: take accountability for those decisions and for how we got here. 502 00:29:04,240 --> 00:29:07,960 Speaker 1: So some major cost cutting going on with again letting 503 00:29:07,960 --> 00:29:11,000 Speaker 1: go of about eleven thousand folks, and it's really, again 504 00:29:11,080 --> 00:29:13,840 Speaker 1: just big tech grappling with the fact that their model 505 00:29:13,880 --> 00:29:16,160 Speaker 1: needs to change. It's no longer growth at any cost. 506 00:29:16,200 --> 00:29:20,080 Speaker 1: They're getting slimmer and focusing on profitability. And to some extent, 507 00:29:20,120 --> 00:29:21,800 Speaker 1: I wonder if we could sort of say the same 508 00:29:21,840 --> 00:29:25,280 Speaker 1: thing about Disney after the earnings there and thinking about 509 00:29:25,400 --> 00:29:29,720 Speaker 1: whether the streaming model needs to change well for them, 510 00:29:29,760 --> 00:29:32,400 Speaker 1: I mean, I think we can absolutely see some parallels 511 00:29:32,440 --> 00:29:35,960 Speaker 1: there because they're also talking after last night results that 512 00:29:36,040 --> 00:29:40,800 Speaker 1: fell short of expectations. UM Disney talking about looking at 513 00:29:40,800 --> 00:29:44,680 Speaker 1: reducing expenses, not necessarily firing people, but you know, reducing 514 00:29:44,680 --> 00:29:48,040 Speaker 1: expenses does sometimes lead to that, UM, but looking at 515 00:29:48,120 --> 00:29:52,040 Speaker 1: things like marketing, UM, perhaps pulling back on spending there 516 00:29:52,160 --> 00:29:55,960 Speaker 1: so UM larger programming. They had a lot of expenses 517 00:29:55,960 --> 00:29:58,200 Speaker 1: when it came to that, the cost of a global 518 00:29:58,240 --> 00:30:00,480 Speaker 1: expansion of Disney plus so all of that meant that 519 00:30:00,520 --> 00:30:04,800 Speaker 1: there were more than expected losses at the companies. Direct 520 00:30:04,840 --> 00:30:07,560 Speaker 1: to consumer ARM theme park smount was also weaker, So 521 00:30:07,640 --> 00:30:10,640 Speaker 1: all of that came together UM to punish Disney shares. 522 00:30:10,680 --> 00:30:13,520 Speaker 1: They are currently down about seven and a half percent 523 00:30:13,560 --> 00:30:16,240 Speaker 1: pre market, only about thirty seconds left. And I hate 524 00:30:16,240 --> 00:30:17,840 Speaker 1: to put you on the spot, Danniel. We help me 525 00:30:17,920 --> 00:30:21,400 Speaker 1: understand this Binance ft X thing, all right, don't think 526 00:30:21,440 --> 00:30:26,360 Speaker 1: I can do it in thirty seconds. FTX liquidity crunch. 527 00:30:26,480 --> 00:30:29,600 Speaker 1: So Binance, another exchange comes over, say that they're going 528 00:30:29,640 --> 00:30:31,920 Speaker 1: to rescue them, They're going to take them over. But 529 00:30:31,960 --> 00:30:34,720 Speaker 1: the main story here is just fears that crypto is 530 00:30:34,840 --> 00:30:37,560 Speaker 1: very vulnerable. There could be meltdowns, there could be contagient 531 00:30:37,600 --> 00:30:40,680 Speaker 1: So all of those crypto stocks under pressure this morning. 532 00:30:41,040 --> 00:30:44,120 Speaker 1: You stuck the landing. Thank you, Danny. As always Bloomberg 533 00:30:44,160 --> 00:30:47,640 Speaker 1: TV anchor Markets correspondent Danny Burger keeping on top of 534 00:30:47,680 --> 00:30:50,520 Speaker 1: those individual movers for us this morning. Looking ahead to 535 00:30:50,560 --> 00:30:54,200 Speaker 1: the market open this morning after the election, investors might 536 00:30:54,280 --> 00:30:57,480 Speaker 1: still be digesting the results. Here we've got mixed action 537 00:30:57,600 --> 00:30:59,520 Speaker 1: right now with U s and P futures down just 538 00:30:59,760 --> 00:31:04,040 Speaker 1: three points, so little changed. DAL futures down seventy. Nasdaq 539 00:31:04,120 --> 00:31:06,760 Speaker 1: Future is now swinging between gains and losses right now, 540 00:31:06,800 --> 00:31:09,760 Speaker 1: little change to the downside. The tenure Treasury is down 541 00:31:09,800 --> 00:31:13,080 Speaker 1: to thirty seconds, you old four point one. Much more 542 00:31:13,120 --> 00:31:17,600 Speaker 1: mid term analysis. Next with Bloomberg Washington correspondent Joe Matthew. 543 00:31:18,040 --> 00:31:23,720 Speaker 1: This is Bloomberg Bloomberg Sports, brought to you by Audie. 544 00:31:23,720 --> 00:31:25,640 Speaker 1: Don't let someone else drive off in the Audi Model. 545 00:31:25,680 --> 00:31:27,960 Speaker 1: You've always wanted to visit your local Tri state Audi 546 00:31:28,040 --> 00:31:29,880 Speaker 1: deally to get behind the wheel of yours today, or 547 00:31:30,000 --> 00:31:39,400 Speaker 1: visit Autie Offers dot com for more information, markets, headlines 548 00:31:39,440 --> 00:31:42,440 Speaker 1: and breaking news twenty four hours a day at Bloomberg 549 00:31:42,480 --> 00:31:46,560 Speaker 1: dot Com, Bloomberg Business Out and at Bloomberg Quicktape is 550 00:31:46,560 --> 00:31:55,560 Speaker 1: a Bloomberg Business Flash and I'm Karen Moscow. We continue 551 00:31:55,560 --> 00:31:58,240 Speaker 1: to watch shares and meta platforms that more than three 552 00:31:58,280 --> 00:32:01,200 Speaker 1: and a half percent. You have executive Zuckerberg saying the 553 00:32:01,240 --> 00:32:03,440 Speaker 1: company is gonna cut more than eleven thousand jobs in 554 00:32:03,480 --> 00:32:05,680 Speaker 1: the first major round of layoffs in the social media 555 00:32:05,720 --> 00:32:09,560 Speaker 1: giants history. U Stock Index futures meanwhile, they've been jumping 556 00:32:09,560 --> 00:32:11,440 Speaker 1: around to bid US and P future is now and 557 00:32:11,440 --> 00:32:14,840 Speaker 1: done about five points. DAL futures down eighty three and 558 00:32:14,880 --> 00:32:17,560 Speaker 1: as deck futures that will change. The decks in Germany's 559 00:32:17,600 --> 00:32:20,520 Speaker 1: down half percent ten, Your treasury that'll change at four 560 00:32:20,560 --> 00:32:22,360 Speaker 1: point one two percent, and they yield on the two 561 00:32:22,440 --> 00:32:25,440 Speaker 1: year four point six six percent. Nine nex Screwed oil 562 00:32:25,520 --> 00:32:27,560 Speaker 1: is down eight ten percent or seventy five cents at 563 00:32:27,560 --> 00:32:30,160 Speaker 1: eighty eight fifteen. A barrel comic gold down a quarter 564 00:32:30,200 --> 00:32:32,960 Speaker 1: percent or four dollars at seventeen twelve an ounce. The 565 00:32:33,000 --> 00:32:35,760 Speaker 1: Euro is at one point zero zero five seven against 566 00:32:35,760 --> 00:32:37,920 Speaker 1: the dollar, British pound one point one to four six 567 00:32:38,000 --> 00:32:40,560 Speaker 1: two the end one forty five point six six, and 568 00:32:40,560 --> 00:32:43,600 Speaker 1: bitcoins falling down five and a half percent. It's seventeen thousand, 569 00:32:43,680 --> 00:32:46,840 Speaker 1: six hundred fifty dollars. That's a Bloomberg business Flash. Now 570 00:32:46,840 --> 00:32:49,120 Speaker 1: here's Michael Barr with more on what's going on around 571 00:32:49,160 --> 00:32:51,520 Speaker 1: the world. Michael Karen, thank you very much. Control of 572 00:32:51,560 --> 00:32:54,840 Speaker 1: Congress hangs in the balance, as Democrats have shown surprising 573 00:32:54,920 --> 00:32:59,560 Speaker 1: strength defeating Republicans in a series of competitive races. Democrat 574 00:32:59,640 --> 00:33:03,520 Speaker 1: John Letterman flipped a Republican controlled Senate seat that is 575 00:33:03,640 --> 00:33:06,480 Speaker 1: key to the party's hopes of maintaining control of the chamber. 576 00:33:06,880 --> 00:33:11,880 Speaker 1: It is too early to call critical Senate races in Wisconsin, Nevada, Georgia, 577 00:33:12,000 --> 00:33:15,280 Speaker 1: and Arizona, which could determine the majority in the House. 578 00:33:15,320 --> 00:33:18,560 Speaker 1: Democrats kept seats and districts from Virginia to Kansas to 579 00:33:18,640 --> 00:33:22,440 Speaker 1: Rhode Island. However, House Minority Leader Kevin McCarthy believes the 580 00:33:22,440 --> 00:33:26,800 Speaker 1: GOP will say control. In Texas, Governor Greg Abbott fended 581 00:33:26,800 --> 00:33:30,320 Speaker 1: off a challenge from Democrat Beatto or Rourke. Governor Rabbit 582 00:33:30,320 --> 00:33:34,000 Speaker 1: address supporters, pointing to border security as one of the 583 00:33:34,000 --> 00:33:37,360 Speaker 1: main issues driving votes in his state. Where any f 584 00:33:37,480 --> 00:33:42,360 Speaker 1: Congress fall short, Texas must continue our unprecedented efforts to 585 00:33:42,440 --> 00:33:46,640 Speaker 1: secure our border. Abbott also says we must never forget 586 00:33:46,640 --> 00:33:51,640 Speaker 1: our schools are for education, not for indoctrination. Democrat Letitia 587 00:33:51,720 --> 00:33:54,240 Speaker 1: James has been elected to a second term as New 588 00:33:54,320 --> 00:33:57,320 Speaker 1: York's Attorney General, and office she has used to pursue 589 00:33:57,360 --> 00:34:00,960 Speaker 1: former President Donald Trump and a list of other powerful targets. 590 00:34:01,280 --> 00:34:04,640 Speaker 1: James defeated Republican Michael Henry, a queen's lawyer who was 591 00:34:04,720 --> 00:34:09,160 Speaker 1: endorsed by various police unions. Voters in battleground Michigan have 592 00:34:09,280 --> 00:34:14,399 Speaker 1: enshrined abortion rights in the state constitution, joining Democratic California 593 00:34:14,520 --> 00:34:17,720 Speaker 1: and Vermont. On election night, Global News twenty four hours 594 00:34:17,719 --> 00:34:20,480 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 595 00:34:20,480 --> 00:34:23,239 Speaker 1: more than twenty seven hundred journalist and analyst more than 596 00:34:23,280 --> 00:34:26,800 Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg Naked. Okay, Michael, 597 00:34:26,800 --> 00:34:29,200 Speaker 1: thanks SERI are live from the Bloomberg Interacted Broker Studios 598 00:34:29,200 --> 00:34:32,040 Speaker 1: where it's sixty nine on Wall Street. It is time 599 00:34:32,080 --> 00:34:34,120 Speaker 1: to check what it's going on in d C. As 600 00:34:34,120 --> 00:34:37,440 Speaker 1: it always is, but particularly after a mid term election, 601 00:34:37,640 --> 00:34:40,359 Speaker 1: it is particularly apt to do just that. So let's 602 00:34:40,400 --> 00:34:43,440 Speaker 1: check in with Joe Matthew Are Washington correspondent, host of 603 00:34:43,520 --> 00:34:46,920 Speaker 1: sound On on Bloomberg Radio. This morning, after that red 604 00:34:46,920 --> 00:34:51,560 Speaker 1: wave didn't quite materialize for Republicans, Joe I saw the 605 00:34:52,320 --> 00:34:55,840 Speaker 1: hashtag red trickle trending right around the time I attempted 606 00:34:55,880 --> 00:34:58,200 Speaker 1: to go to sleep, which hasn't really happened yet, but yeah, 607 00:34:58,360 --> 00:35:01,040 Speaker 1: that does seem to be the the narrative coming out 608 00:35:01,080 --> 00:35:02,640 Speaker 1: of the night. And I do want to just sort 609 00:35:02,640 --> 00:35:04,440 Speaker 1: of warn everybody that there's a lot of stuff that 610 00:35:04,440 --> 00:35:06,880 Speaker 1: has not been called yet. It is looking like the 611 00:35:06,920 --> 00:35:09,440 Speaker 1: House will turn Republican, but yeah, not really in a 612 00:35:09,480 --> 00:35:14,440 Speaker 1: wave projections of DEM's losing. You know, forty seats does 613 00:35:14,480 --> 00:35:16,320 Speaker 1: not seem to be in the cards. Here in Virginia 614 00:35:16,360 --> 00:35:18,560 Speaker 1: is a pretty good example of that. Some of the 615 00:35:18,280 --> 00:35:21,359 Speaker 1: the cross currents that we saw last evening, a win 616 00:35:21,480 --> 00:35:24,120 Speaker 1: for Abigail Spanburger, a race that we spent a lot 617 00:35:24,120 --> 00:35:26,840 Speaker 1: of time talking about, beat yes Lea Vega in the 618 00:35:26,960 --> 00:35:30,040 Speaker 1: seventh district. This was considered a bell weather for the nation. 619 00:35:30,080 --> 00:35:33,120 Speaker 1: And we added another one as well in Jennifer Weston 620 00:35:33,880 --> 00:35:37,120 Speaker 1: that's the tenth district of Virginia, Northern Virginia DC suburbs, 621 00:35:37,400 --> 00:35:40,319 Speaker 1: beat the Republican Hongkow. But there there there were some 622 00:35:40,400 --> 00:35:44,279 Speaker 1: losses as well, a pretty big one in fact, as 623 00:35:44,320 --> 00:35:48,240 Speaker 1: Elaine Lauria, the congresswoman on the January six committee lost 624 00:35:48,280 --> 00:35:51,759 Speaker 1: her seat to State Senator Jen Kiggins. So two out 625 00:35:51,760 --> 00:35:53,960 Speaker 1: of three ain't bad. I think it's the way Democrats 626 00:35:54,000 --> 00:35:55,520 Speaker 1: look at this, and that is a bit of a 627 00:35:55,560 --> 00:35:57,799 Speaker 1: model for the nation. Well, what does the message that 628 00:35:57,880 --> 00:36:00,760 Speaker 1: Democrats take away from this when they have a little 629 00:36:00,800 --> 00:36:05,040 Speaker 1: bit better result than they expected and Republicans do look 630 00:36:05,080 --> 00:36:08,160 Speaker 1: like they're going to be heading towards a narrower majority 631 00:36:08,200 --> 00:36:11,279 Speaker 1: in the House than a lot of the pundits had expected. Joh, Well, 632 00:36:11,320 --> 00:36:13,320 Speaker 1: it's a little bit difficult to start the post mortems 633 00:36:13,400 --> 00:36:15,479 Speaker 1: yet because we have so much yet to learn. There's 634 00:36:15,520 --> 00:36:17,200 Speaker 1: there's still so many races to call. We don't really 635 00:36:17,239 --> 00:36:19,279 Speaker 1: know what's gonna happen with the Senate, but I do 636 00:36:19,360 --> 00:36:21,200 Speaker 1: think you know, look, it's not gonna be a reckoning 637 00:36:21,200 --> 00:36:24,080 Speaker 1: for posters necessarily, but we have to come to grips 638 00:36:24,080 --> 00:36:27,120 Speaker 1: with the fact that we're not sampling people the way 639 00:36:27,120 --> 00:36:28,319 Speaker 1: that we need to be. And a lot of that 640 00:36:28,360 --> 00:36:30,960 Speaker 1: could be young people who were motivated by issues that 641 00:36:31,000 --> 00:36:33,719 Speaker 1: went beyond the scope of the economy and inflation and 642 00:36:33,760 --> 00:36:36,640 Speaker 1: so forth. And so we saw, you know, there there 643 00:36:36,640 --> 00:36:41,440 Speaker 1: there was some mobilization around issues like abortion, like cannabis 644 00:36:41,520 --> 00:36:43,720 Speaker 1: rights that was on the ballot in a number of states, 645 00:36:43,960 --> 00:36:45,560 Speaker 1: and the Senate is still up in the air here, 646 00:36:45,600 --> 00:36:47,480 Speaker 1: and it could be a month before we find out 647 00:36:47,480 --> 00:36:50,120 Speaker 1: who controls the chambers. So we want to be tempered 648 00:36:50,200 --> 00:36:53,000 Speaker 1: in the in our attempts to analyze what happened last night. 649 00:36:53,160 --> 00:36:55,520 Speaker 1: Arizona is still up in the air, Nevada is still 650 00:36:55,560 --> 00:36:58,319 Speaker 1: up in the air, and Nathan so is Georgia. And 651 00:36:58,440 --> 00:37:01,880 Speaker 1: right now Raphael Warnock and Senator uh and in herschel 652 00:37:01,920 --> 00:37:05,760 Speaker 1: Walker both have less than fifty percent. It is entirely 653 00:37:05,840 --> 00:37:08,600 Speaker 1: likely that goes to a runoff, so we could in 654 00:37:08,680 --> 00:37:11,440 Speaker 1: fact wait a month before we know who owns the Senate. 655 00:37:11,560 --> 00:37:13,640 Speaker 1: You know, in the last few years, Joe, there's been 656 00:37:13,680 --> 00:37:16,839 Speaker 1: such a tendency to sort of nationalize these races when 657 00:37:16,880 --> 00:37:19,440 Speaker 1: we think about control of Congress, that sort of thing. 658 00:37:19,520 --> 00:37:23,040 Speaker 1: Did this come down to more local issues in this cycle? 659 00:37:23,400 --> 00:37:25,759 Speaker 1: It again a little bit difficult to say there. Look, 660 00:37:25,800 --> 00:37:29,680 Speaker 1: there was a lot of crossover in major issues across UH, 661 00:37:29,719 --> 00:37:32,040 Speaker 1: a lot of congressional districts here, and you know, I 662 00:37:32,040 --> 00:37:34,560 Speaker 1: don't want to take away from what was actually a 663 00:37:34,560 --> 00:37:37,360 Speaker 1: pretty good night apparently for Democrats here. In a message 664 00:37:37,760 --> 00:37:40,440 Speaker 1: from Joe Biden in the midst of historic inflation and 665 00:37:40,480 --> 00:37:42,520 Speaker 1: a war in Europe. Like you don't need to go 666 00:37:42,600 --> 00:37:45,520 Speaker 1: through this whole list for you here. Uh that that 667 00:37:45,560 --> 00:37:48,239 Speaker 1: you know, maybe some of the other approaches on the 668 00:37:48,280 --> 00:37:53,879 Speaker 1: Republican side, particularly candidates who were embracing denialism and did 669 00:37:53,920 --> 00:37:56,480 Speaker 1: not accept the results of the election. To take a 670 00:37:56,480 --> 00:37:58,560 Speaker 1: look at Carrie Lake out in Arizona. A lot of 671 00:37:58,600 --> 00:38:00,799 Speaker 1: fun people thought you would crew was to victory. She 672 00:38:00,920 --> 00:38:02,760 Speaker 1: is still down in a race that is not called 673 00:38:02,760 --> 00:38:05,200 Speaker 1: down by at least a full percentage point, and she 674 00:38:05,320 --> 00:38:09,319 Speaker 1: was calling for election fraud investigations before the race even 675 00:38:09,360 --> 00:38:12,080 Speaker 1: closed here. So there is a lot for us to 676 00:38:12,120 --> 00:38:14,280 Speaker 1: figure out and a lot of voters to talk to 677 00:38:14,280 --> 00:38:18,080 Speaker 1: to understand what actually motivated them to vote. Yeah, and uh, 678 00:38:18,120 --> 00:38:21,360 Speaker 1: you know, not to get too far ahead, but actually 679 00:38:21,480 --> 00:38:25,520 Speaker 1: I'm about to because Santis had a really good night 680 00:38:25,880 --> 00:38:32,160 Speaker 1: beating Charlie Christ handily in Florida. Arguably former President Donald Trump, 681 00:38:32,200 --> 00:38:34,239 Speaker 1: who were still expecting to make some kind of announcement 682 00:38:34,280 --> 00:38:36,880 Speaker 1: next week, did not have as good a night. What's 683 00:38:36,920 --> 00:38:39,880 Speaker 1: the landscape for? That's fair to say. I look, and 684 00:38:39,920 --> 00:38:43,080 Speaker 1: I don't know if that gives Rohn de Santis an 685 00:38:43,160 --> 00:38:46,120 Speaker 1: upper hand in a race like that, it's very unclear 686 00:38:46,160 --> 00:38:49,440 Speaker 1: that he could beat Donald Trump, for instance, in a primary. 687 00:38:49,440 --> 00:38:52,000 Speaker 1: It's unclear donald Trump scares him away if he does 688 00:38:52,000 --> 00:38:55,319 Speaker 1: in fact announced next week. But you know, it was 689 00:38:55,360 --> 00:38:58,120 Speaker 1: not lost on us that people in the crowd at 690 00:38:58,120 --> 00:39:01,319 Speaker 1: the De Santis victory rally, we're cha thing two more 691 00:39:01,520 --> 00:39:05,960 Speaker 1: years as he took victory of the big victory lap 692 00:39:06,080 --> 00:39:07,719 Speaker 1: last night, because a lot of them would love to 693 00:39:07,760 --> 00:39:10,799 Speaker 1: see him go on to Washington and be the president. Uh, 694 00:39:10,840 --> 00:39:12,880 Speaker 1: this is gonna take some time here. As Donald Trump 695 00:39:12,920 --> 00:39:15,879 Speaker 1: calls him run to sanctimonious, they clearly don't love each 696 00:39:15,920 --> 00:39:18,839 Speaker 1: other here and realize that they may in fact being 697 00:39:18,880 --> 00:39:21,880 Speaker 1: a contest someday or might you know, block one or 698 00:39:21,920 --> 00:39:24,120 Speaker 1: the other out here. I just I think that one's 699 00:39:24,160 --> 00:39:26,320 Speaker 1: gonna take some time. But that's part of the motivation, 700 00:39:26,440 --> 00:39:28,680 Speaker 1: Nathan of Donald Trump announcing as early as next week 701 00:39:28,760 --> 00:39:31,320 Speaker 1: is hope is to clear the field. Only about a 702 00:39:31,360 --> 00:39:34,040 Speaker 1: minute left here, Joe, and of course market participants are 703 00:39:34,040 --> 00:39:36,840 Speaker 1: trying to digest these results as we're still trying to 704 00:39:36,840 --> 00:39:39,120 Speaker 1: figure out exactly what they're gonna be. What are you 705 00:39:39,160 --> 00:39:42,440 Speaker 1: gonna be looking for in terms of policy going forward 706 00:39:42,480 --> 00:39:45,960 Speaker 1: with the potential for a divided Washington. Returning, well, you know, 707 00:39:46,000 --> 00:39:48,719 Speaker 1: we talked a lot about gridlock yesterday. Gridlock is good. 708 00:39:48,719 --> 00:39:50,960 Speaker 1: Wall Street likes this idea. We're not going to probably 709 00:39:50,960 --> 00:39:53,319 Speaker 1: see a lot of major pieces of legislation flying out 710 00:39:53,320 --> 00:39:56,880 Speaker 1: of a divided Congress if in fact that's how this lands. 711 00:39:56,880 --> 00:39:59,880 Speaker 1: But the majority would be so slim in this case 712 00:40:00,040 --> 00:40:02,759 Speaker 1: for Republicans in the House that there are a lot 713 00:40:02,760 --> 00:40:06,440 Speaker 1: of questions about whether there's numbers to codify same sex 714 00:40:06,480 --> 00:40:09,640 Speaker 1: marriage and a law to find an expanded child tax credit. 715 00:40:09,960 --> 00:40:11,920 Speaker 1: What will happen when it's time to fund the government. 716 00:40:11,960 --> 00:40:15,520 Speaker 1: Maybe Democrats and Republicans have some motivation here, since no 717 00:40:15,520 --> 00:40:18,440 Speaker 1: one's gonna have a real mandate to actually manage this 718 00:40:18,480 --> 00:40:20,839 Speaker 1: fiscal cliff before we have to get into that next year. 719 00:40:20,880 --> 00:40:22,759 Speaker 1: So there are a lot of big questions about the 720 00:40:22,760 --> 00:40:25,680 Speaker 1: way a Kevin McCarthy, assuming he's the next speaker, would 721 00:40:25,680 --> 00:40:28,960 Speaker 1: handle this. I would still expect a lot of investigations, though, 722 00:40:29,200 --> 00:40:32,440 Speaker 1: a lot of hearings probes into the Biden administration. Get 723 00:40:32,520 --> 00:40:35,240 Speaker 1: ready to hear a lot about the Hunter laptop. Let's 724 00:40:35,400 --> 00:40:38,239 Speaker 1: hope you get some rest before sound on five pm, 725 00:40:38,280 --> 00:40:42,319 Speaker 1: Ball Street Time, hosted by Bloomberg Washington correspondent Joe Matthew, Joe, 726 00:40:42,360 --> 00:40:44,840 Speaker 1: thank you, Karen, all right, sounds good, Nathan, thank you. 727 00:40:44,920 --> 00:40:47,200 Speaker 1: Six fifty five on Wall Street, we turned to news 728 00:40:47,200 --> 00:40:49,880 Speaker 1: and science and technology Now at the Bloomberg and j 729 00:40:50,040 --> 00:40:53,360 Speaker 1: I T. Stemmer Report brought to uvine, New Jersey Institute 730 00:40:53,360 --> 00:40:56,799 Speaker 1: of Technology as one of the nation's leading polytechnic universities 731 00:40:56,800 --> 00:40:59,800 Speaker 1: in a top military friendly school, and j I T 732 00:41:00,040 --> 00:41:03,680 Speaker 1: supports America's service members and their families. Learn more at 733 00:41:03,760 --> 00:41:06,799 Speaker 1: n j I T dot Edu, slash Veterans, and here's 734 00:41:06,840 --> 00:41:11,160 Speaker 1: U's making News and science, technology, engineering, and math. Cryptocurrencies 735 00:41:11,200 --> 00:41:14,759 Speaker 1: are extending to clients as finances. Potential takeover of unbattled 736 00:41:14,880 --> 00:41:18,000 Speaker 1: rival exchange f t X highlighted house strains in the 737 00:41:18,000 --> 00:41:21,320 Speaker 1: digital asset industry are now buffeting some of its top players. 738 00:41:21,680 --> 00:41:24,720 Speaker 1: The chief executive officer of Finance stunned the crypto world 739 00:41:24,800 --> 00:41:27,640 Speaker 1: yesterday with an announcement that his firm was moving to 740 00:41:27,719 --> 00:41:30,879 Speaker 1: take over rival ft X dot Com, which he said 741 00:41:31,000 --> 00:41:35,120 Speaker 1: was seeing a liquidity crunch. Mark Karney, the former Bank 742 00:41:35,120 --> 00:41:37,520 Speaker 1: of England governor and co chair of the world's biggest 743 00:41:37,560 --> 00:41:41,279 Speaker 1: climate finance coalition, is ert in governments to create frameworks 744 00:41:41,280 --> 00:41:45,320 Speaker 1: that encourage financial market participants to commit to slashing emissions. 745 00:41:45,600 --> 00:41:48,080 Speaker 1: During a panel discussion at the COP twenty seven Climate 746 00:41:48,120 --> 00:41:52,920 Speaker 1: Summit in Egypt, Karney said policymakers should align financial regulation 747 00:41:53,000 --> 00:41:56,920 Speaker 1: with net zero by making net zero transition plans mandatory. 748 00:41:57,520 --> 00:42:00,799 Speaker 1: And China, the world's largest iPhone fact three will still 749 00:42:00,840 --> 00:42:04,000 Speaker 1: face COVID restrictions the city of Shang Joe and today 750 00:42:04,160 --> 00:42:06,719 Speaker 1: lockdown in the district where the plant is located, but 751 00:42:06,880 --> 00:42:10,000 Speaker 1: some areas are still considered high risk, including one where 752 00:42:10,000 --> 00:42:13,000 Speaker 1: the funx con factory is located. The restrictions have led 753 00:42:13,000 --> 00:42:16,640 Speaker 1: Apple toward it will ship fewer iPhones than anticipated. And 754 00:42:16,719 --> 00:42:20,480 Speaker 1: that's the Bloomberg and j I t Stem report. And 755 00:42:20,600 --> 00:42:24,920 Speaker 1: futures this morning are moving lower. S and P futures 756 00:42:25,000 --> 00:42:27,600 Speaker 1: are down about eight points right now, dal Future is 757 00:42:27,600 --> 00:42:31,160 Speaker 1: down Naughty two and NASTAG futures down fourteen tenuere Treasury 758 00:42:31,200 --> 00:42:34,759 Speaker 1: little change yield four point one two per cent, and 759 00:42:35,040 --> 00:42:39,440 Speaker 1: straight ahead it is Bloomberg Surveillance there in Washington, d C. 760 00:42:39,719 --> 00:42:42,400 Speaker 1: They'll have much more on the mid term election results. 761 00:42:42,400 --> 00:42:45,360 Speaker 1: That's Tom King, Jonathan Farrell, and Lisa Abramowitz and for 762 00:42:45,480 --> 00:42:48,640 Speaker 1: Nathan Hager. I'm Karen Moscow, and this is Bloomberg