.. a warm welcome to "midter and markets. democrats win the house taking back control of the chamber for the first time since 2010 but falling short of a blue wave >> when democrats win -- and we will win tonight -- we will have a congress that is open, transparent, accountable to the american people. republicans maintain the senate with the white house hailing it a successful night

for president trump. >> we feel good. it's been a good night for the president. candidates that have embraced the president, embraced his policies and that he campaigned for, we're seeing that pay off tonight. european equities seeing green and u.s. futures trading higher the dollar dips amid the prospect of a split congress. and an exit poll from nbc shows healthcare now replacing the economy as the most important issue for u.s. voters in this midterm election. on the earnings front, adidas shares fall as investors focus on the disappointing sales outlook, but the ceo kasper rorsted says he remains bullish. >> despite the fact we're investing more than ever in our

company, we are extremely happy with the overall run of our business a warm welcome to the european edition of "midterms and markets. we will continue to bring you the results of the midterm elections and try to figure out what they mean for investors as trading gets underway from europe >> we'll bring you more analysis, get the view from the president of microsoft, brad smith, and here in the studio, joumanna is keeping us up to date on the market moves julianna's day is winding down a bit. a few contests still left to look at as we break down the individual state results >> it is not the blue wave the democrats had hoped for, but the party is projected to have taken control of the house of representatives while republicans are in charge of the

senate >> let's get to john harwood with the latest from cnbc's hq in terms of what is going to change, what happens next with the split congress as well what is the first thing you're expecting to see >> the most important thing is that the democrats hold the g r gavel in the house they have the ability through the chairing of committees, house intelligence committee, various oversight committees, the tax committee, they have the ability to summon witnesses, launch investigations. nancy pelosi last night said honest government, transparent government was one of her priorities she addressed a victory rally and said they would pursue that and stop republican attempts to take away healthcare

>> democrats will clean up corruption to make washington work for the american people republicans will only continue the toxic gop culture of cronyi cronyism, incompetence that grows more brazen and destructive every day. we've seen washington republicans work relentlessly to distract, divide and cover up anything to shift the focus from the gop's tax scam for the rich and their campaign to take away america's healthcare >> so we have a return to divided government, not just a democratic house and a republican white house, but also a republican senate. republicans were able because of the strength of the president in rural states, states with smaller populations, states that supported him in 2016, they were able to expand their majorities in the senate. they went into the election with

51 seats, they gained at least three democratic seats, lost one of their own republican seats. that gave kellyanne conway, the counselor to president trump, something to brag about herself and say that democrats are going to have to compromise with republicans. >> hopefully the democrats will come with good ideas for the country and this president will listen to those proposals. >> what do you think they can work on? >> i think it's no accident that the republicans held and will gain in the senate that's remarkable. it's historic. it only happened the last eight times in 80 years. the fact that republicans will gain more tonight is a testament to the fact that voters want statewide officials to have this economic boom going, are voting in favor of freedom and free markets. >> now, it's going to be difficult for those three, republican senate, republican

president, democratic house to work together on legislation because their priorities are so different. democrats agree with president trump on the desire for a large infrastructure spending bill, however deficits are rising, trillion dollars projected in 2019 after the republican tax cuts the republican senate will not want to go along with that on the other hand the republican senate wants to cut entitlement programs, the old age spending on social security and medicare. democrats don't want to do that. president trump promised not to. it will be a big challenge finding areas of agreement between the three. you can expect more rancor in terms of those investigations. everyone will wait and see what happens with mueller's trump russia investigation which democrats will be cheering on. that's a potentially conseque consequential event in the next few weeks. >> let's look forward to 2020

and the presidentials. have we learned anything this evening about who the likely democratic candidates are going to be in this presidential race? >> well, i think one star for the democrats who emerged from 2018, even in defeat was be tsht bebet betbeto betbeto o beto o'rourke. he lost by three percentage points to ted cruz, but he shattered fund-raising records he will be in the democratic conversation you have elizabeth warren re-elected last night. she is poised to enter that race she'll be a strong candidate sharod brown of ohio, he was re-elected easily in the state of ohio. and then there's an entire raft

of potential democrats from joe biden, bernie sanders, kamala harris the senator from california who all now are looking at this race cory booker of new jersey as well and it's going to be a large field as we sit today. some will decide not to join that field but we have a wide-open democratic race with some new faces and some old and familiar ones >> john, can i ask you an insider washington, d.c. question as well many democrats blame james comey's actions for costing hillary clinton votes. robert mueller, has he been waiting to get these midterms out of the way before we see any more revelations on his part >> yes i think there's widespread

expectation that the mueller investigation in its public face will accelerate over the next few weeks. mueller has continued to investigate. there's been some court filings indicating that there's been some negotiation on potential subpoenas for witnesses to its investigation. all of that is much more likely to burst into public view now because he's not going to be b constrained by the appearance of not wanting to inject himself into the election. we do know the president's campaign manager, paul manafort, has pled guilty and is cooperating. michael cohen is cooperating, and so is michael flynn. so there's high jeopardy for the administration, for the president personally as well as membered of his family in this investigation. we've been surprised over and over by the extent of what robert mueller uncovered in this

investigation. we'll see what the next chapter is >> i know it's a long night and early morning on this night, thank you very much for your coverage appreciate it. >> i bet >> how much sleep did you get on brexit you had a good night's sleep, didn't you >> yeah. okay >> how much did you get? >> two, to three >> i woke up at 11:00. about the same tony fratto is founding partner of hamilton partner. thank you very much for joining us coming off the back of john harwood there, your quotes this morning is this could get ugly it could be gridlock as well, and there could be uncomfortable oversight. is this where the fight begins for the president? >> yeah. i think so a lot of action was taken by the administration over the past two years on a lot of environmental rules, other rules

a lot of people are focusing on the investigations into the president himself. every house committee has oversight over the agencies that it covers. it will be calling in the department heads, looking through e-mail and questioning everything that the administration has done. i think you'll see that. i know that democrats have taken control of the house they want to focus on making sure they're talking about some big policy issues. focus on the parts of the economy where they see that haven't been helped by the trump administration and republicans in congress. but the focus on oversight will be a dominant theme over the first six to eight months of democratic control of the house.

>> one thing that brought mr. trump to the white house or one of the issues was americans were sick of the swamp. they were sick of the party's polarizing behavior. according to your notes, we're going back to that, crisis budgeting and looking at shutdowns. republicans will look dimly on this, won't they >> i don't know anyone is very happy at all the way government is working i don't know that it will be a big change it may be the same dance but a different tune they didn't like the gridlock, but it's hard to see how republicans and democrats are going to agree on big pieces of legislation. this is reflective of the country -- this is a very divided country. and we are seeing that with successive elections now that the voters will swing back and forth between republicans and

democrats and we don't have a system that actually works very well when we're this divided structurally it's tough to pass legislation when the house and senate are in -- are split between different parties. so the budget process becomes very difficult we'll get to the point where we can only budget by passing big resolutions or omnibus packages that are negotiated outside of regular order when you have points where we run out of money or we run out of the ability to borrow money when we hit the top of the debt ceiling. >> we have sat here over the years and run up to the cliff edges where the government has run out of cash and we had the threat shutdowns it has not materialized as a real threat for the markets. are you suggesting that because

of this issue of dispute over budgeting going forward that we may have to seriously consider prolonged periods of shutdown for the federal government >> i don't think -- i think the -- i think shutdowns are likely to happen i don't think it's -- neither party ends up winning when a shutdown happens neither party feels like they win if they concede to the other party absent being forced to so they have to deal with the base in each of their parties. the base of each of their parties will not allow them to concede on major issues unless it is the absolute last choice for them so that's what really leads them to these scenarios where the shutdown, which nobody likes most citizens don't like it.

markets don't like to see it dysfunctional government, remember, is what led the s&p to downgrade the united states government it's not a good thing. but it leaves them little choice this is the way -- this is where we are with politics now in the united states. the compromising before you absolu absolutely have to before you become a political loser the trump administration has talked about doing something on infrastructure we know the democrats want to do something on infrastructure also they want do something on this, and they each see this as a potential win-win but we still have the difficulty of getting money, enough money to do something big on infrastructure. so i'm not optimistic that will

happen but you also have this problem that if they do try tonegotiat an infrastructure bill they have to compromise with each other and compromise is not popular now. >> mr. fratto, thank you very much for your time always good to speak to you. in case you can't get enough of our midterm coverage, head to cnbc.com for more stories and analysis find out who president trump was hanging out with to watch the results overnight and read more about the winner who has made history as the youngest woman ever elected to congress joumanna >> let's look at some market reaction it has been a big development overnight. largely in line with what most markets were anticipating yesterday. there's a 60% chance of a split congress that's what transpired we did get some volatility in

the futures in the overnight session. the last hour we've seen a bit of an uptick the dow seen opening up about 200 points higher. s&p about 25 points higher or 1 percentage point similar to the risk-on mode in europe typically what happens going into midterm elections, you get a tapering off investors start building in uncertainty into their trading horizons but typically if you go back and look at the last 60 years or so on average you do get an increase of about 8% for equities so this is sticking in line with the usual trends let's look at u.s. treasuries as well fixed income is rallying back today. the ten-year note is around the 3.19 mark. ten-year treasury notes are

still about 80 basis points higher congress was keen on pushing fiscal spending plans to the tune of 1$1.5 trillion. that's put pressure on treasury issuance and one of the reasons cited for those yields moving up but now with the prospect of a split congress, we are seeing this rally back a bit. it means the bar for further fiscal plans is higher let talk about the dollar. the dollar has been a good performer, up 4.5% year to date. the dollar is flat versus the november 2016 election, but still strong for 2018. today it's trading on the back foot also potentially accounting for the fact that there is political gridlock in the u.s. it will make any policy making decisions going to be quite difficult. euro is trading higher sterling as well

dollar/yen, the yen trading firmer against the dollar. coming up, we'll drill down on the battles, lost, and those still too close to call following a dramatic night in washington >> we feel good. it's been a good night for the president up to this point obviously candidates that have embraced the president, embraced his policies and that he has gone in and campaigned for, we're seeing that pay off tonight. helped put a roof over the heads of hundreds of families, he's most proud of the one he's kept over his own. brand vo: get paid twice as fast with quickbooks smart invoicing. quickbooks. backing you.

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welcome back let's check in on how european markets are digesting the news overnight from the u.s the picture behind me is positive across all the indices. ftse up 1.1% 75 points higher xetra dax and cac 40 reacting well to the news of coming out of the u.s that's a split congress. let's switch on and drill down

more into sectors. right up at the top we have the trade sensitive sectors and the dollar sectors basic resources up 2%. construction and material, optimism about an infrastructure plan that may come out of the u.s. chemicals as well at the bottom of the gainers moving on to look at some underperforming sectors, there isn't a whole lot of under-performance going on financial services is at the bottom, but overall a good day for cyclicals. in all the european equities are reacting well to the news. the race to become georgia's next governor is still too close to call, following one of the most hotly contested midterm battles.

stacey abrams told supporters she expected a runoff against brian kemp >> votes remain to be counted. there are voices that are waiting to be heard. across our state folks are upping up the dreams of voters in absentee ballots, we believe our chance for a stronger georgia is just within reach but we cannot seize it until all voices are heard i promise you tonight we will make sure that every vote is counted. every single vote. >> stacey abrams there let's kick it out to juliannjula one speech i heard today that i thought resonated was ted cruz ted cruz, whilst trying to appear like a man very much in charge actually he saw his majority, if you'd like, greatly reduced it was a narrow win with ted cruz >> it was.

the texas senate race was one of the most closely watched races of the election. here we saw ted cruz defeated democratic challenger beto o'rourke cruz won the tight race with a little over 51% of the vote. as you say, this was a tight victory for ted cruz, which is remarkable he was up against beto o'rourke who raised $60 million during his campaign while he did lose the election he energized voters across the nation in terms of the voter breakdown, nbc says that the latino and black voters went to beto o'rourke and cruz was boosted by the majority of white voters speaking at a rally cruz said his victory shows texans want freedom and prosperity >> this was an election about hope and about the future and the people of texas rendered a verdict that we want a future with more jobs, more security, more freedom

>> o'rourke thanked his supporters and said he was proud of his campaign. >> i'm as inspired and hopeful as i've ever been in my life and tonight's loss does nothing to diminish the way that i feel about texas or this country. i'm forever grateful to every single one of you for making this possible. i believe in you i believe in texas i believe in this country. >> coming up on this show, we'll speak with the microsoft president, brian smith, as corporate america digests the implications of a split congress rebekkah: opioids has taken everything

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♪ welcome to "midterms

and markets. the u.s. wakes up to a divided congress as democrats win the house taking back control of the chamber for the first time since 2010 >> when democrats win -- and we will win tonight -- we will have a congress that is open, transparent, accountable to the american people. republicans maintain the senate with the white house hailing it a successful night for president trump. >> we feel good. it's been a good night for the president up until this point. candidates that have embraced the president, embraced his policies and that he campaigned for and worked hard for, we're seeing that pay off tonight. european equities seeing green and u.s. futures trading higher following a volatile overnight session, but the dollar dips amid the

election results and an exit poll from nbc shows healthcare now replacing the economy as the most important issue for u.s. voters in this midterm election. on the earnings front, adidas shares fall as investors focus on the disappointing sales outlook, but the ceo kasper rorsted says he remains bullish. >> we took the earnings guidance up, so despite the fact we'r investing more than ever in our company, we will have the highest margin history of the company, we're extremely happy with the overall run of our business fascinating market behavior here >> is it >> i think it is i think it is. what i think is interesting is the bounce in europe so many of the trading sessions we've seen of late have been a reflection of the selloff we've saw, and then you have to think

about whether you buy the dip or whether this was it for the year the fact that the european investment community are buying into europe at this point is interesting. is it a relief rally what does it tell us about the european investment view of stasis in the political process in the united states maybe it has some european investors convinced that if the president is somewhat encumbered as he tried to impose a tougher trade deal on the eu, that may be a net positive for european companies. >> i think overinterpreting it if i hit this mug here and it hits your patella. your leg goes like this. didn't work. it didn't work yes, it did. my point being like markets were conditioned to believe they have to rally after we've had the midterms, because markets rally

after the midterms they certainly have done every market and midterm event since 1946 the fact of the matter is we have divided government. the chances of cohesion, of bipartisanship, despite what everyone may say after infrastructure are limited at best the ability of the president to carry out his agenda fool heartedly has taken a knock back as well. so why are markets rallying? i think they're rallying because it's another factor they were thinking about out of the way. they were worried about seven things yesterday, now it's only six things today it could be eight or ten it's just one thing the pundits, the players can put aside and move on towards other issues it's as simple as that why else are we seeing the dollar moving down against the pound and yet moving down against the euro, and moving down against -- why is the dollar not stronger now the fact

that we got this factor out of the way? it's the fiscal agenda story the u.s. economy was on a path before mr. trump mr. trump may have accelerated that or not. the market is in a better position >> the fear was that the economy was going to run too hot, and the fed in its reaction function would push up interest rates more quickly all of that would happen off the back of a tightening of conditions as the republican house pushed forward this aggressive fiscal agenda that the president has. now i think the market is saying hang on. we can still have reasonable growth in the united states, but maybe this is not too hot, not too cold, maybe this is the kind of economy where the fed

actually will not have to lift interest rates as much as expected that's why the dollar is easing a bit. that's why all those economies that benefit from a weaker dollar those in europe and asia will see some support over the next 24 hours as people do that knee jerk reaction of trying to figure out where you can make money here >> john harwood had to deal with in 2016 the fact that the democrats were saying we won the popular vote we won it. we're kind of like victors i'm hearing that already this time, and we're not even cold on the event. i'm hearing that the popular vote for the democrats has been the only place where we've seen a big blue wave. are you hearing the same >> well, it was a blue wave in the sense that democrats amassed enough support to win control of the house of representatives when we began this election cycle people did not think that

was likely to happen because the way district lines are drawn, the difficulty of overcoming entrenched incumbents was going to make it hard for them to win the house. they have done that. that mattered. we had a vastly different senate map than we had a house map. the senate races that were decisive took place in trump-friendly states. donald trump succeeded in his campaigning in driving up enthusiasm among republican voters in those states and they won. so they expanded their senate majorities make no mistake about it, the number one outcome of this race is that nancy pelosi would be the speaker of the house the democrats will have subpoena power, the ability to reopen the trump-russia investigation, to stand up in sort of robert mueller and his investigation, all those things will matter a great deal to the trump

presidency >> great to have you with us thank you very much for your coverage this morning. corporate america will now be weighing what a d.c. gridlock could move for business with tariffs and visas the more contentious issues in focus, especially for those big technology companies let's get out to karen at the web summit in lisbon >> thank you very much i have one of the biggest technology companies of the world with me right now, microsoft. brad smith and i were just talking about the election outcome and how it impacts your world. what is the big takeaway message for business on the back of the midterm elections? >> i think the takeaway is a guid divided country, now we'll have a divided government if you do want to get things done in protecting security, privacy, you have to find a way to work with both political parties. that's been the reality for the last two years

it will be more the reality for the next two >> coming up to the midterms there was a focus on election meddling after what went on in 2016 a lot of foreign agents ped pedallipedal -- peddling fake news microsoft is also warning about how broad the threat has been. how do you think the influence played out coming up to the midterm elections? >> i think it's too early to tell if you had asked the day after the 2016 election what the state of interference had been, i think everyone would have underestimated it. we should let the dust settle and take a closer look the protection of democracy is one of the fundamental causes for democratic societies around the world. that's why we launched a defending democracy program in april, took steps in august and why we need to work across the

industry and with democratic countries and the world to address this >> some cybersecurity experts were noting that the threat still exists in 2018 around cyberattacks, just the strategies employed are different. you have accounts set up that are very close to what you would think would be an official account. when we talk about consumers have be responsibility to verify sources or where they're going, it's hard for consumers to tell what site they landed on >> your point is spot on there are ongoing threats around hacking and disinformation when you get an e-mail, look at the e-mail address, not just the name, but the address. look at whether it is something you recognize. a lot of times the name is set up to appear as something you expect when you study where it's coming

from, you see, wait this does not look legitimate at all if it doesn't look legitimate, don't click on a link in that e-mail >> i want to ask about some of the calls you made for a digital geneva convention. it seems like you want collective action to tackle cybersecurity. there's not a lot of opposition. a lot of european governments want help when it comes to cybersecurity attacks. where are you at as a global initiative >> we have made progress we need to bring together the tech sector. we have over 60 companies participating. next week in paris the world will come together, commemorate the centennial of the arm cities th armistice, we want to endorse the kinds of principles that we

need, principles that will protect elections, civilians and the internet >> there's the fear that the more data gathered by the government the less civilians are protected. you have gone to court to try to put a wall around civilian data. how successful will you be in the long term protecting civilians from the government? it's a fundamental question for this century people have lived in many countries. you are securing your home the government needed a search warrant before it could come search your information. that's something we need to preserve it's always been under threat. there are times we need to talk

about it and times we need to act. that's why we brought four different lawsuits against the united states government relating to this. >> do you expect the democrats to be a stronger force now on the back of the midterms when it comes to technology. there's been concerns about the way the political discourse has gone in the states it can enhance a negative narrative for the democrats. do you think they'll tackle technology and try to protect some of those right now that they had a stronger showing? >> it's interesting. most technology issues so far have not been partisan issues. the big shift has been what used to be an era where everyone was just excited about technology, it has now become an era where people are excited and concerned at the same time that's not unreasonable. i think every day there's cause for excitement we're creating products that enable people to do new things if you think about threats to democracy or the questions that people have about the future of jobs, future of work, how

artificial intelligence will change all that, there are important things we need to address. we need to scale the population to be prepared we need to bring broadband to every part of the country. i think the democrats will be interested in some of these things, republicans will be, too. with a little luck and hard work perhaps we can build bipartisan support. >> help me out with how business should view the environment for stocks there's been a huge debate around whether prum happen bees has been good for the stock market when it comes to microsoft, you had a huge win on the back of tax reform you were able to bring back a lot of money that was offshore on the back of that tax reform has trump been good for microsoft? >> we need to find ways to work with president trump as we work

with president obama stocks have been rising since this decade began. microsoft stock has been rising steadily since 2013, certainly under satya nadella the company has done well. what's more important than the stock price, we saw 19% revenue growth year over year in the quarter that just webbended. 34% profit growth. that's what we have to sustain so we need to deliver value to customers, grow the company. we don't control the stock price. we need to focus on what we can control. >> it's a good point thank you very much for joining us here at the web summit. >> thank you >> brad smith, the president of microsoft.

plenty more coming up, i'll have a conversation with tony blair, the former prime minister of the uk lots of geopolitical events to talk about including the midterms watch out for those comments later today. we'll bring you some clips of is that tomorrow. back to you. >> thank you very much for that. we're looking forward to the rest of your interviews today. bmw suffered a slump in third quarter earnings missing expectations operating profit fell 27% due to a number of challenges including intense price competition in europe, new emission rules, higher research costs and the i78 pa impact of trade tensions they warned earlier this month that pretax profit would fall this year also cutting its margin guidance. elsewhere, ahold-delhaize has beaten expectations on the top and bottom line in the third quarter. they saw a 3.6% increase in

group sales thanks to strength in its online business and key markets. the group which operates the stop and shop and giant chap si the u.s. also upped full-year guidance. and marks and spencers had a pretax profit beat while there was a decline in underlying sales at its food, clothing and home divisions. and adidas reported a near 20% jump in third quarter net profit on the back of strong sales in north america and asia. they upped its full-year outlook saying they expect net income growth of 16% to 20% the ceo, kasper rorsted did reiterate the bullish outlook to us earlier >> we took the earnings guidance up despite the fact we're investing more than ever in our company in mounting investments, we will have the highest margin in the

history of the company at 10.8%. we are happy with the overall run of our business. coming up on the show, we break down the midterm election results as both republicans and democrats hail their victories in congress. >> when democrats win -- and we will win tonight -- we will have a congress that is open, transparent and accountable to the american people.

it isn't the blue wave the democrats hoped for, but the party has projected to take control of the house of representatives while the republicans remain in control of the senate i want to bring in a senior fellow from carnegie to get some more analysis. a lot of money has been spent going into the midterms. as we were just talking about, the democrats were not able to secure that blue wave victory that perhapsthey were looking for. what does this mean in terms of

the democrat momentum going forward as we get into 2020 and just in terms of the sheer amount of money spent on this election >> that's not exactly my area of expertise, but i would say coming out of the evening you have a number of democrats with strong national security credentials who are joining the house of representatives, and who i think will be providing interesting intellectual counter point to the trump administration moving forward. >> what do you make of the president's call put in to nancy pelosi a couple hours ago. does this reflect a willingness to start engaging in some bipartisan discussions >> i suspect it's too early to answer that question at minimum just through human politeness to recognize the outcome of the election and

we'll have to see whether the president shifts gears and looks to cooperate with the democratic house or whether he sees them as a political foil >> one of the big market reactions we've been monitoring here is not just what happened domestically but also in international markets. we saw a bit of a bounce in eqi much for asian equities. do you think this election will have implications for the overall relationship and state of relationship between the u.s. and china going forward? >> well, again, there are going to be some national security voices on the democratic side in the house of representatives they are not going to have a tremendous amount of authority to redirect president trump's national security policy or

economic policies. and on china it's probably not where they'll dedicate a huge amount of resources in terms of trying to build a more balanced or friendlier relationship i think washington has changed by not being under one-party direction coming out of last night's election, but i wouldn't expect to see a radical shift towards china over the next couple of months >> what do you think it means in terms of the u.s.'s relationship with russia? there's been a divide between the president's intentions to foster good relationships with his russian counterpart, and now with the changeup in congress what does that mean especially heading into the g20 summit? >> again, with control of one house of congress it's not as though the democrats can redirect presidentially controlled foreign policy, but you will see much more

oversight, you will see a more transparent investigation into the trump administration's relationship with russia you know, my hope is that democrats remember that with russia, with china, with other countries it should be possible to have cooperative relationships in areas where we've got mutual or overlapping interests even where there are hugely important areas where we are almost in adversarial positions. >> thank you for your time i know it's early for you. jarrett blanc joining us u.s. futures, let's look at these. we are showing an implied opening which is higher at the moment it's all about the markets moving up today. i don't think the markets are moving so conclusively they have had a run up to the upside any way in the last few

sessions the dow has been up five out of the last six sessions. the nasdaq broke a two-day losing streak. the s&p also up. i have more questions than answers. i have questions about deadlocks, the fed implications, deregulation, is that haultdeha mueller, trade, the china relationship as well we've seen a tweet from the kremlin saying we don't think things will get better on the back of this immigration, what happens there, and tax cuts as well is that it is it over i have more questions than answers. >> and the markets will have as well i guess this is resolution of one of those outstanding issues as we run into the end of the year is a lame duck congress at this point bad for markets over the next two years i suspect from the kind of movement we're seeing in

european, asian and the futures that it would suggest no that actually investors, global investors can deal with policy paralysis. >> and the ability of people to call the top in the dollar on the back of this is extra o extraordinary and possibly misplaced. >> that's it for this special edition of "midterms and markets. but we should point out the coverage continues here. there is a special edition of "squawk box" in the united states kicking off an hour early for the midterms coverage. thank you very much for tuning in we'll see you bright and early tomorrow morning i am a family man.

i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome.

democrats win control of the house but republicans keep the senate and pick up more power there. the global market impact as u.s. equity futures point to a higher open. from washington to wall street we'll bring you the headlines that you need to know. i got messed up with daylight savings. we're starting now early, on for hour hours today a special edition of "squawk box" begins right now. ♪