tv Street Signs CNBC November 9, 2022 4:00am-5:00am EST
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that's all for this edition of "dateline." i'm natalie morales. thanks for watching. [music playing] hello. welcome to "street signs" as we bring you the latest results from the u.s. midterm elections. i'm karen tso with arabile gu may day. democrat john fetterman flips the senate seat according to the nbc news projections, giving the president's party a big boost? the fight for control. >> every county has to vote.
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and that's exactly what happened we jammed the vote we held the line. >> the republicans remain on course for the majority in the house of representatives according to nbc news estimates but is set to fall short of the red tsunami some have expected. >> our investors are awaiting clarity on election results with european equities trading broadly lower, while u.s. futures fail to find direction. also, crypto giant ftx is climbing off a cliff that's after binance steps in amid the liquidity crunch. it is 4:00 a.m. eastern, 9:00a a.m. here in london
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the final polls have closed and results are still coming in. control of congress still hangs in the air key senate states are too early to call. meanwhile in ohio's closely watched senate race, nbc news expects republican jd vance has defeated democrat tim ryan. >> but the democrats are set to score a big win in pennsylvania with nbc news projecting john fetterman to flip the seat from the republicans. fetterman suffered a stroke just days before he won the democratic primary in the spring, and he briefly addressed his health at a victory rally in pennsylvania >> we want this campaign, pennsylvania for every small town or person who ever felt left behind, for every job that has ever been
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lost, for every factory that was ever closed, for every person that works hard but never got in or got ahead, i'm proud of what we ran on, protecting a woman's right to choose, raising minimum wage, finding the union way of life, knowing that there's a human fundamental right. it saves my right, and it should all be there for you. >> more from nbc news. maura, this is certainly an interesting one. how significant will a win like this be in the big scheme of things as, of course, the house looks to be in jeopardy? >> reporter: right this could be
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very significant especially considering the cal cue laws in terms of who controls the senate here in the u.s., and i will tell you that we were not expecting to see a result in this race this early on. pennsylvania is a very tight swing state known to be purple in the last several u.s. elections. for president, the decision came down to less than 1% of the vote, but the democratic senate candidate came out with 136,000 votes more than his republican opposer dr. mehmet oz. they're still counting the mail-in ballots. as you heard from the top of the show with the sound biytes from john fetterman's victory speech.
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democrats are very concerned about what he mentioned about the right to abortion, health care, as well as threats to u.s. democracy as all the claims of election fraud and deniers have flouted around after trump left office, a lot of that we've seen in pennsylvania meanwhile republicans have been more concerned about the crime rates in pennsylvania and the economy, and so this is something we were very hesitant on to see what it was going to be because of that close study so, again, this could have a lot of significance once we see how the other states as you mentioned georgia and wisconsin play out, but this is something republicans felt confident on, but democrats were really hopeful they could swing pennsylvania blue for fetterman, and that's what we saw here tonight. >> nbc news maura bennett, thank you so much. things are getting quite interesting.
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nbc news projects republicans will win the house it was 218 and 220 the estimated margin of error is reduced from 13 to ten seats either party would need 218 in order to control the chamber now, house speaker nancy pelosi did issue a statement saying democrats are, quote, strongly outperforming expectations pelosi said many races are still too close to call and that all votes must be counted as cost. what does this mean for the u.s. market a little bit of nervousness is certainly the picture we're getting. of course, the recent market gains we have seen in that market picture as a result of the midterm elections which are set to drag on, particularly the results thereof, with the control of the house of representatives and senate perhaps a little bit still in the air. a bit of a mixed picture is what
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we could see later on tofrmd with regards to the european market you're seeing red across the board. 0.4% weaker for the ftse, only going out of step with the european markets the midterm elections still very key for investors looking out. plus you have that cpi number expected out of the united states on thursday all of that is bound to still be in play. the dollar, well, that softened ever so slightly this week then we've seen a little bit of weakness from it but as you see now, it seems to have some interest of strength they're rebounding from earlier losses and may try to recover further in the days ahead. of course, what you may see is if the republicans are able to turn the senate, it could indeed be positive for the dollar but by how much is the key question that is what we're hearing from
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some analysts. >> all right, arabile. let's get some notes from megan. somewhat of a cliffhanger as we wait for results to come in. one takeaway were the elements, is economy stupid, and also the women's rights came out at the polls. extrapolate what you're seeing from this economic perspective. >> yeah, you know, you hit it on the head inflation was an issue for a lot of voters according to surveys the last time that was the case was in 1982. it's been awhile but it's just inflation and impending recession that lots of people already think it's a recession. that's how it feels to them. it wasn't just about democracy and abortion and things like that it was also just about the economy. >> megan, one of the decisions is there's been a big outcome or sweep toward republicans that we
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may see a challenge around the debt ceiling still we're waiting to see numbers. if we think about all the times we even seen this challenge before, republicans also saying they will press on when it comes to pushing back on some spending how do we think about any potential channel around a debt creeling this time in the u.s. to fold if it would happen because markets feel like they're changed away from this very cheap credit environmental where it didn't matter if we had a scenario like that it feels as though if we had a situation like that, it could be different given the monetary conditions. >> we're going to have to raise the debt creeling this year, and republicans have rediscovered their fiscal hawkry and realize some deal will have to be done along with spending cuts a default for the u.s. would be catastrophic the markets are incredibly shallow at the moment. they're highly stressed given the banks' global equity
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that being said, i don't think we're fating any sort of default. it's in everybody's interest to go ahead and agree but we also know from recent history it could be difficult. we could end up with furloughs in the interim i do think republicans will bargain hard on this to try to secure spending cuts, but i do think a deal will be done next year this is a case whether the republicans win the house and the senate or just the house it doesn't need to be a red wave for this to be a difficult negotiation. >> megan, how much credence does this give to joe biden and give him a sense of credibility because clearly not many democrats run away from his policies in fact, it seems they're sticking with him for the most part with a few issues here and there. does it mean that his policies are certainly the right way to go thus far and that many still believe? >> well, i think what we know is it's pretty typical for the incumbent's party to lose in the
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midterm elections and the democrats have outperformed relative to expectations of course, as you poimd out, the jury is still out. it does suggest a lot of voters want a pier of safe hands to run the economy. and president biden's record on some things, the vaccination, for example, is actually pretty good that might be a reflection of that it also could be down to the economy to some degree the fed is trying really hard to lean against inflation the fed's independent, of course, but most americans don't know that. you know, joe biden has talked a big game on doing something about the inflation, but the fiscal authority can't do a whole lot on the inflation front. >> which would be more detrimental to the economy then? do you think it may be the delay in knowing the final results if that was to be the case with some of the races, perhaps even georgia, for example, which could go to a runoff or would it
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be perhaps a little bit more around a complete split then, knowing that you may have two years of joe biden having to put in executive orders in order to get things done somehow? >> well, it depends on the implications for who from the market's perspective, the markets like certainty, so having an extended period of time where we don't know the election results, that creates uncertainty. that would be bad for the markets it seems a gridlock market is actually pretty good for the markets. that increases certainty, so the markets tend to like that. for the economy, of course, less can be done if there's gridlock. depending on which side you fall, that's a good thing or bad thing. >> we might be through the midterms almost at this point, but 2024 looms, and already we have president trump saying we could get an announcement as soon as the 15th of november
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such a strong showing for florida. they're saying the night might not have been as positive for trump as he had hoped. it was fairly disruptive when it comes to u.s. politics and a very different backdrop for the u.s. economy as well if trump were to declare it and run, what would that mean for the u.s. economy >> look, i don't think it would mean much for the u.s. economy to be honest over the next years. i think we can absolutely expect former president trump to announce his candidacy if not, it would be much more difficult to indict a running candidate. it's highly unusual. but, you know, to my mind, the most alarming thing about these midterm elections, according to a u.s. times report, 200 republicans have been voted into office in these elections who question the outcome of the 2020 elections. so in my view, i think it's kind of the immediate to long-term
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degradation of trust in our institutions that will have the biggest impact overall, but that's not a short-term issue. i think that could come up in the next presidential election, but probably not before then. >> yeah, and just with that then in part, does that make trump kind of a noose for the party in a way? i mean that red wave that we sort of expected, definitely not in play by the theme of it could that mean there could be a shift in the republican party now? >> you know, former president trump came out and endorsed a whole bunch of candidates with mixed results. that could be an indication that the republican party is turning away from the former president, but i think it's too early to see that i think we'll have to see once trump announces and whether he's reinstated on twitter, for example, whether he gets the bully pulpit he previously enjoyed and his response to
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that i think its northwesterly the days to say whether republicans are going to back him or not. >> thank you so much for joining us and taking our questions. megan greene, chief economist with global institute. for the latest updates, you can log live on cnbc.com. there was a shock ott the liquidity crunch at the rival crypto exchange. we'll discuss more after the break. why do nearly one million businesses choose stamps.com to mail and ship? stamps.com is convenient you get the services of the post office right on your computer stamps.com saves you money with great rates from usps and ups mail letters ship packages anytime anywhere for less a lot less get our special tv offer a 4-week trial plus postage and a digital scale
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welcome back to "street signs. a quick look at how markets are looking and what are particularly to be the u.s. futures. of course, with those midterm elections still in play, there might be a lot of cautious trading, so we are seeing a slight bit of negativity toward the opening of that trading picture. we have seen positivity in the market thus far, but congress is
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still, of course, still up in the air. those moves might be tempered by exactly where things fall, republicans winning parts of congress would certainly change how best it's feeling about the market and the economy from here so for now that negativity still filtering through. on to the treasury, we have seen some sort of weakness in the note, but those moving up at some point we saw it go to 1.4. as you can see, a built of a fall with the five-year, but for now still sitting 4.3% binance is set to buy the non-u.s. operations of viral crypto exchange for an undisclosed amount after a liquidity crisis account holders are blocked from accessing funds.
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the ftx token is set for its worst performance since 2019 binance will conduct full due diligence in the coming days. bitcoin plunged as low as $17,000, its lowest since 2020 you may recall we were already hovering around that $20,000 handle and some folks had stabilization starting to return in the crypto spachls e. dogecoin also falling progressively at this hour the ceo told cnbc the jury is still out on whether investors can expect more to come. >> i think this is -- what we're witnessing right now is somewhat the repo effect of what's happening in our industry. is this the end of that or will
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there be further dominos to fall would be anyone's best guess i think people should not wait to find out and find safety. >> just fresh back from a web summit, the big technology last week i spoke to one of the big players, and the line was there could be more of a shakeup and there's more pain to come when it comes to the crypto winter. they didn't expect this to happen, what's transpired between two of the major players. you dig into the detail about something that's seen and selling $2 billion worth of the ftt token does send a message, and one was that the right communication, number one, to disclose what they were doing. did it cause a run on the rival? was that a trigger i mean two ways to look at it. one, if you know something and you're about to take serious action, that could be detrimental to others.
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do you have to disclose it without having a regulator present in the backdrop. the other is there a role response because it's now caused a collapse of the rival that's been one of the casualties another thing, he's a fierce player he's very good at what he does and now he's effectively come out on top and he uses the battle for the crypto space. >> my question is does this kind of change things with regard to regulation is? you've seen what is essentially this big fall-off. having just yesterday assured, you know, followers that, listen, all assets are basically fine, then you get all of this happening, it kind of makes you wonder then, you know, which other shoe might drop in this crypto space, would that even be a possibility. at the same time, to fall at the context of leverage, liquidity, which are all still
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fundamentally the normal banking space if you want to call it that issue, kind of goes against exactly what crypto's actually all for. it was supposed to just be the space that goes away from kind of a regulated space this calls into question a whole lot of that. now dipping below that 20,000 mark is also key. >> you think about that with the banking lens they require you to hold a certain amount of cash on certain parts of the business. in terms of the crypto space t volatility has only retired. if you're talk about outflows and the certain amount of skpoirss, expires, what does that look like one of the things that jumped out at me at the big event, you have a whole series of high volume with crypto trading you might hold onto the stock for a year by way of
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transacting. no one is clicking on it crypto was so appealing because people were going in and out on a daily basis it was a very good industry for a lot of people across the board that started to change earlier this year with some of the volatility coming out of the space, the lack of appeal not moving to the upside day after day. it stopped some of that volume of tractinstransactions you've got to race for a return off capital, not even a return on space. >> does binance have to sort of fall through on this deal? you've seen so many back away from deals, right, and kind of say, well, okay, it's actually making me feel uncomfortable and not follow through i mean, you could see that kind of happening in a situation like this where you have ftx kind of
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sitting nervously somewhat and while binance says, yes, we will interact in the space, it kind of does change their sense and sentiment and what exactly is going to be part of the business at the same time with al mthem g a separate entity and lick liquidate their assets, you wonder. >> there's still a question mark to follow the twitter saga where there wasn't enough where the caveats were made. it still does pose question marks at this point. i think when you look at the territory of the stablecoin unfolded, i think for some of
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the lis sophisticated players, the idea was to follow the big money. you banged on the reality you had two wealthy individuals that if something effectively went wrong, you could bankroll some of the operations. but that seems to have evaporated into $1 billion there's a 94% drop in his own holdings, own value over the course of a very short period of time i mean who anticipates that change of fortunes again, it went up so quickly, and minted billionaires had the same story on the flip sooichld we're seeing very rapid fall here around it does make you question who's going to bankroll the sector when there are other problems on the liquidity. >> it's certainly the wild, wild west, that's for sure when it comes to that crypto space will that deal also pass
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antitrust laws very interesting we'll continue to check that one out. for more on the battle between the crypto titans head to cnbc.com for the full analysis. >> it used to be show business that's where the excitement was. let's talk about disney after the company missed expectations for its fourth quarter revenue it posted $4 billion for it period it aelded over 12 million new members to disney plus, but warned growth will slow down in coming months. plenty to read on the back of netflix and just what consumers are doing in terms of palace forms, but i still say it still looks like a large amount of content for a small fee while others are going up. >> i wonder how many are that
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welcome to "street signs" as we bring you the latest results. i'm arabile gumede with children choe john fetterman flips the pennsylvania senate seat giving the president's party a big fight for control. >> every county, every vote. every county, every vote that's exactly what happened we held the vote
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we held the line. >> the republicans are in control so far of the house. meanwhile investors await clarity with the european markets trade broadly lower. ftx's coin falls off a cliff over $2 billion in value after the rival binance steps in to buy the business amid a li liquidity crunch to the midterms and key senate seats georgia and wisconsin are too close to call while arizona and nevada are too early to call meanwhile in a closely watched senate race, nbc predicts jd advance has defeated tichl ryan.
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and it's plea digited john fetterman will flip the seat from the republicans meanwhile it's estimated the republicans will win the house the projection has shifted between 218 and 220 in the last hour it currently sits at 220 the estimated margin of error reduced from 13 to 10 seats, the party will require 218 to control the chamber. and in the groft's race, the nby news predicted republican governor ron desantis has won re-election in florida, defeating his democratic rival charlie crist. it could be a springboard for potential white house run. the republican presidential hopeful was previously -- has previously clashed with donald trump, but the former president called him ron desangt timonous.
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he's only begun to fight for the people of florida. >> we have fought freedom, we have maintained law and order, we respect the rights of parents and our taxpayers, and we reject woke ideology. we fight the woke in the legislature. we fight the woke in the schools. we fight the woke in the corporations we will never, ever surrender to the woke mob florida is where woke goes to die. >> elsewhere nbc news shows gretchen whitmer has won in michigan, defeating tudor dixon who has been a top republican target they also approved a ballot measure that enshines abortion rights into the state constitution
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that's the first state to do so since the fall of roe v. wade. over in georgia stacy abrams has called governor brian kem top concede the race nbc news has predicted kemp will be re-elected as georgia's governor with more than 53% of the vote a voiding a runoff election abbott has a comfortable lead, securing his third term. now, brie jackson does join us live from washington, dc, for this discussion on the midterms. what a night it certainly has been, breie, but not the way republicans had hoped. how much of this is also a referendum on donald trump
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. >> reporter: that's a big question some of the candidates former president trump thought was pushing for, they did not win. in particular when you talk about that race there, the senate race in pennsylvania where former president trump had backed dr. oz, but john fetterman, the democrat, did win that race. president biden was watching the results as they rolled in and advisers say he was in an upbeat mood overall we don't know what will happen top democrats say it was an unexpectedly good night n particular when it comes to that race in pennsylvania, which was a key seat fetterman is now going to replace retiring gop senator pat toomey some of the other big races we did see where republicans did pick up a win or maintain a race in the senate where jd advance was able to win in ohio, they did stave off that red wave that many people have predicted
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outperforming during the election psych wrl historically the party in favor does not typically do well. so with the votes still being counted, the republicans do believe they will secure enough seats to take over the house, but the senate still remains in the balance, particularly when you think about that race in georgia, which has been too close to call. >> bree, short term, we're certainly waiting for some of those key results, but a slightly longer lens as we look out to 2024. some of the key areas of the elec electorate, democrats taking heart from the fact that white college educated women seem to respond around this women's rights themes to women's abortion rights, also for the other side of the equation here, latinos moving toward the republican party give us a read-in how some of this washup means for republican 2024 >> reporter: this is one of those things the party is engaging what energizes voters when it comes to female voters,
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it's also a very reliable voting bloc certainly the decision to overturn roe versus wade pushed more females to get out to vote this year. when it comes to the latino vote, they're divided. that's not a monolithic voting bloc inflation like other key groups, that was a top issue from latino voters we spoke with in areas such as arizona as well as georgia. so what's being done about it. what's being done about social issues such as, you know, a women's right to choose or voting rights, things like that, really both parties are going to be looking at to see what resonates with voters as we see that push toward 2024. no doubt we do expect announcements to be made soon. i mean even former president trump has hinted he could possibly announce his plans to make a 2024 presidential run in the next couple of weeks, so
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both republicans and democrats are watching to see what resonated with these voters and what worked, but it was not the referendum against president biden as some had expect and even when it comes to former president trump, some of the candidates he backed did not win. so both republicans and democrats are going to be looking to see moving forward what's going to really get voters throughout. >> bree, thank you so much for the an am sis. much appreciate it. a quick check on u.s. futures at this hour, we're seeing a slight negative tone creep into the markets the closer we get to the market open it's been a fairly flat open early on you see the dow jones anticipating weak earn, 85 points the the downside. we've had upbeat action for three state days of gains. for the midterms, we're now looking at a slight tilt into the red. i want to take a look at the dollar we're seeing interesting trades.
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the dollar is trying to claw back some of the losses. i think traders are closely eyeing this result to see what it means in terms of spending, also whether we've gone big dollar this week you see half the morning session as greenback remains king. sterling is certainly fading euro, parody is where we're at it's dropped by 10% plus you have the safe haven, the japanese yen and look at that, below 65 in terms of the treasury trade, we are seeing a level of 4.13 on that u.s. 10-year yield. i think investors, again, are trying to extrapolate out what we've got here is it going to be gridlocked are we going to see spending in terms of action by the federal
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reserve. the 4.66 that we're seeing, i think there's still a few question marks at this hour. >> quincy krosby is the chief global strategist at global financial. quincy, it's certainly been one of those times when you think one certain aspect and you realize nothing is for certain, particularly in politics you have these estimates of republicans perhaps taking the house with the senate definitely still up for grabs a republican takeover, especially in the house, does seem a little more bullish according to analysts for the dollar especially, but the question is by what margin any thoughts on that >> you know, so much depends actually on the reading thursday morning on consumer price index to see what the fed is going to do in december
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but what we're probably going to have is gridlock with gridlock, the market is satisfied with that. historically the market, you know, is happy with gridlock because some of the -- especially really if it's republicans in the house and democrats in the white house because some of the less friendly, business-friendly incentives that the democrats have are going to be thwarted by a republican house so that's actually positive for the market obviously the most positive for the market is if the republicans take the senate as well, but it does look as if right now we could have the gridlock. and, again, that scenario typically is something that markets accept, and they accept it quite readily and then move onto the next issue for the market, which really is monetary policy. >> yeah. we've also seen some reports,
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unconfirmed reports about glitches at some polling sites how much would markets -- or how would markets react to even further uncertainty about the results? would there be kind of a referendum on results in the market >> you know, we're so used to that now, but i think they'll get through it you know, already this has been one where the other side is losing you'll say cheating has been going on, that the glitches are just really another form of cheating we'll have to see how long it goes on and what the other side is prepared to do. when i say other side, you know, on both sides of the aisle but nonetheless, no one expected to know what the outcome is today, this morning, and maybe we have to go to the end of the week before we know who takes over the senate.
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>> quincy, can i dig in a little deeper you have the u.s. that's turned tail, but bond yields have been somewhat supported over the months they've somewhat parted company in november. who has it is it the foreign exchange or the bond market? >> i think it's the bond market. the bond market has been steadfast in what it thinks is going to happen. the two-year treasury yield has just stayed there. it's the one that's most closely associated with that policy. all of the cries for, you know, the market climbing higher, the market climbing higher, the said pivot, the bond market has said, no, you're wrong we will probably see thursday morning the consumer price index where the bond market thinks the fed may go in december, whether they have to stay with 75 basis points or perhaps be able to
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downshift and move toward 50 basis points and then go into the first quarter lower for longer this is what's so interesting is that the bond market really has not changed. the currency market, however, has shifted downward you can see emerging markets getting a bit -- anything that allows for financial conditions to ease, and a weaker u.s. particular certainly does that. >> quincy, let me take a couple of bonds around the debt creel, whether it triggers a ratings response, the other detecting biotech from saw dough defense to cannabis. take the key trades we've been hearing about. >> you know, some of the states have voted to allow cannabis, two states already saying that it's legal on a federal level, we haven't seen much movement so it remains an individual
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state decision, and it was put to vote. in terms of defense spending, the market has been expecting a win, right a republican tsunami that would have increased the trend spending it doesn't mean the democrats are going to spend of course, they are. but the idea is the republicans would spend more and that would help the industrial sector. also when we look at the pharmaceutical, there, too, the market had been sniffing out a republican win, and you could see the health care had been gaining. was the market looking ahead and thinking the republicans would take both houses which may still happen, mind you in addition to that, the financials, the xlf, for example. that had been doing quite well, losing higher. one of the reasons was, again, a republican win in both houses would have thwarted much of the
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agenda for the securities and exchange commission, which has been focused on the financial ind industry, so that would have been thwarted. also, we've seen many merges across the business sector even though that's a hurdle, a legislative hurdle, legal hurdle in the republican house, the estimations were it would be an easier path toward approval. we'll have to see how the market gets through the week, but we do expect to see a bit of a pullback because they've moved so quickly you see the futures is down this morning. again, the market is waiting to see if the republicans can manage to take both houses the energy sector as well would thrive in a more politically
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hoss pitiaable environmental wi the republicans taking both houses, but with the split, you're not going to see much policy coming out of the party, both parties agreeing on anything, but, again, gridlock is okay. the markets typically put it like it sounds odd, but markets typically go right past it. >> quincy, thank you very much for that thoughtful and detailed response much appreciated just a quick note for the latest update on the midterm elections, don't forget to follow our live blog on cnbc.com ahead, we're going to have more reactions on the midterms an leave you with how wall street is poised to open. it's hard to run a business on your own. make it easier on yourself. with shopify, you can have everything you need
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46% of voters said president biden's policies are hurting the country. voters in the midterm elections were whiter, wealthier, and older than in the 2020 presidential election, according to the nbc news exit poll. voters with household incomes of $100,000 or more made up 37% of the electorate compared to just 26% in 20. now, arizona remains too early to call after several polling stations reported glitches as well as printing malfunctions, slowing down the vote count one republican said arizona had become, quote, the laughingstock of these elections new nbc news ali rafah joins us from a polling station in arizona. it's an important race, especially when you consider how early it is to call this with the incumbent mark kelly, of course, still taking a slight lead in this race aopposed to
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blake masters. how important is it, though, that that glitch isn't hung onto, particularly by the republicans and seen as a way of perhaps cheating or changing results? could that even be the sent meant they bring forward later on >> reporter: yeah, karen and arabile. we saw that sent meant echoed yesterday in lied of these polling tabulation machine issues late yesterday we learned from election officials here in maricopa county here in phoenix that that issue had been resolved in 17 of around 60 of these polling locations, these machines that were having printer errors so we assume that these technicians, according to election officials, are goim to continue to work on the remaining machines today today election officials have been predicting for weeks we wouldn't have final results the morning after this election.
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and that's exactly the case we're seeing as of 2:00 in the morning in phoenix, democrats are holding a slight advantage with just around 60% of the votes being counted. this was expected early on because of how much the party favors early voting. but both the senate as you mentioned and governor's s rac are still too close to call. mark kelly is holding the lead over black masters and katie hobbs holding a very narrow lead over her republican opposer kari lake it could take days to get final results. we expect it to shift more in favor of the republicans that's because more republicans were likely to vote yesterday and in the last 72 hours alone
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this is a state that was won in 2020 by 20 points. this is the democrats' chance to control in the upper senate, if they want to control in congress of course, vice president harris holding the tie-breaking vote when a vote is cast. especially we're hearing there could be a red wave in the house. we're expecting the house to flip into republicans' control so really the next two years of president biden's first term could really hinge on key races all across the country so this is definitely one of them all eyes on arkz specifically in maricopa county, arizona, over the next few days, guys. >> it's going to be a long night, perhaps a long few weeks if things progression in this fashion. thanks so much for your reporting. we appreciate it. a quick look at u.s. futures, down, it looks today.
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it seems to be even lower as we edge closer to the start of the trade. 121 points down possibly for the dow jouns. >> speaking of winding, let's take a look at the dollar in that con tech a little bit of save haven that's destroy edthe sterling decrypto on the back of the ftx de facto, you can see it's not the sector you see things are accelerating on ether and dogecoin. that is all for today's show from myself, karen, from arabile, thank you so much for watching us today.
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let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about.
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it is 5:00 a.m. in washington, dc, and here's your top 5 at 5 you're waking up with dozens of key races still too close to call, although, nbc predicts the republicans willlikely take control of the house the senate is still up in the air. and we may not know until december, investors now gauging the political and economic landscape. it's not just about the futures. dow futures are down disney getting hammered on disappointing results. elon musk selling billions of tesla stock al
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