andrea canning: that's all for this edition of "dateline." i'm andrea canning. thanks for watching. [end theme] ♪ very good morning, everyone. welcome to "street signs." i'm silvia amaro and here are your headlines. it's election day in america. kamala harris and donald trump make their final pitches to the american people holding their rallies in the crucial battleground states. >> we will win because when you know what you stand for, you

know what to fight for. >> we can fix every single problem our country faces and lead america and, indeed, the whole world to new heights of glory. on the equities front, the stoxx 600 trades along the flat line as investors hold their breath ahead of today's vote. also where, treasury yields slip and dollar wavers. strike over. boeing workers vote to end their walkout after seven weeks accepting an improved contract deal and easing pressure on the troubled planemaker. and saudi aramco net profits slides more than 15% in the third quarter on weaker prices and lower refining margins as well, but still tops expectations while maintaining its $31 million dividend.

♪ very good morning, everyone. it is very important day stateside. u.s. election day. voters across america will head to the polls in what appears to be a neck and neck race, really, for the presidency with close contests also likely in the battles for control of the house and the senate. the vice president and democratic presidential candidate kamala harris, spbt the final day of campaigning in pennsylvania with success there crucial to her chances of securing the presidency. in her final rally in philadelphia, harris set out her policy to voters and set to contrast republican rival donald

trump. >> instead of stewing over an enemies' list, i will spend every day on your behalf working on my to-do list. full of priorities to improve your lives. together, we will build an economywhere we will bring down the cost of living, we will b ban corporate price gouging on groceries. we will make housing and child care more affordable. we will cut taxes for workers, for middle class families and small businesses. >> now donald trump also hld two rallies in the state of pennsylvania after starting the day in north carolina, another close fought battleground before holding his final rally in grand rap id rapids, michigan. speaking in pittsburgh

yesterday, he laid out his closing argument to voters. >> my message is simple. we do not have to live this way, we don't, and we won't, we won't. we do not have to settle for weakness incompetence and decline and decay. with your vote tomorrow, we can fix every single problem our country faces and lead america. and, indeed, the whole world to new heights of glory. >> we have our first results from election day with six people in dixville notch, new hampshire casting ballots around midnight in the u.s. election tradition. the township votes were split evenly with three voting for harris and three voting for trump. now that we've looked at the latest on u.s. political front, let's get a check of u.s. futures. at this stage it suggests a mildly positive start to the

trading session on wall street. this after a lower session on monday with the investors very much taking a cautious approach, really, as we prepare to find out who is the next president of the united states. very much a cautious and muted approach thus far. of course, all eyes are on that election day. just to briefly mention in terms of the data, we will see u.s. trade deficit figures today as well as services pmi. of course, these are tunlikely o move the markets today, but an important note to keep in mind. when it comes to the treasury space, one of the narratives here in recent times has been the so-called trump trade. that has changed over the last 48 hours. with very been looking at lower treasury yields and this is still very much the picture when you think about the two-year treasury at this stage trading lower at the moment, but we are seeing a bit of a mixed picture with the yields in the ten-year

treasury. the benchmark unchanged for the time being. that highlights the cautiousness and what investors are trying to figure out what's going to happen on the political front. speaking of that trump trade, i want to take you to the dollar index because it has been another asset class where that trump trade has dissipated over the last 48 hours or so. just to give you an idea, the dollar index was down .4%. overall, the greenback is falling throughout today's session. let me show you how the dollar is moving against other currencies. can you tell there is a little bit of pressure on the dollar. so, investors are trying to figure out what's going to happen in terms of the u.s. election, but indeed that trump trade is no longer the narrative and we are seeing overall the

we weaker dollar. euro/dollar is higher .2% against the greenback. to understand the ramification of the currency space, i'm pleased to say george ceravellos is with me. good to have you on the show. first, i would like to understand the outlook for the dollar here because at this stage it is very unclear what the markets are pricing in. first, it suggested they were expecting a trump win. now that no longer seems to be the case. what are markets actually pricing in and, therefore, what is the likely reaction once we get outcome later this week? >> to go back to the first question, the outlook for the dollar, we think it hinges on the outcome of the u.s. election. in terms of heading in, what are the expectations, especially over the last expectation of the trump win has

been pared back. the market has priced in a genuine 50/50. for the next 24-to-48 hours, the market reaction should be system met trick in terms of what we get. if we get a trump win, we expect a stronger dollar and vice versa. i think that's a reasonably wildly held opinion among the market. where we have a stronger view, over the longer time horizon, the potential for the dollar to rally on the three-month bases much bigger than for weakening if we get the harris victory. i say that as a broader point. when we look at market pricing, even expectations are similar heading in. we do not see signs of market pricing the outcome in case of the trump win. i can go across different market metrics to discuss that, but it tends to be fairly broad based.

>> exactly where i would like to go next because there is a lot of commentary suggesting that -- basically what would be the currencies that would be impacted the most in case of a trump victory. perhaps we can show on your screen at this stage what we're trading in terms of the peso for instance or the japanese yen. what i would like to understand here is what currency do you think will suffer the most if we actually see a trump victory? >> so i think the starting point is to understand how much is priced in and here it is easier to do that on the interest rate front. to give you an example, if we look at what the market is pricing for the ecb at the moment in terms of the trough of rate and how low will rates go? that's about 2%. that's much closer to where we expect rates to be under a harris victory of 225. in the event of the trump

victory, we see rates going down to 1%. you can see the same with the inflation expectations with the break even market. it is not pricing out to 25 or 26 which would be expected in the case of tariffs. across the board, i would say even though the narrative is this election is a close call, which it is, from the market pricing perspective, we don't see that symmetry priced to the same extent. in terms of vulnerabilities, in the emerging market pace, for sure the mexican peso in reliance to the u.s. trade and we know trade is a big theme for this election and as far as developed market current as is go, it would be europe. the reason is europe is the most reliant on trade for growth in recent years and especially over the last 6 or 12 months.

it's really trade policy which is the tipping point from one outcome or the other. >> george, tell me about that level. what do you expect for the u.s./euro dollar with the trade expectations you just high highl highlighted? >> it is useful to look at the near term over the longer term reaction. i expect somewhere between 1% to 2%. higher or lower depending on who wins. if you look at break even markets, they are pricing a break even slightly above 1%. that is the expectation with as much as 2% in euro/dollar both up and down. that's where the symmetry stops. in the event of a democratic, euro moving 110. not much further. with the republican victory, we mapped out scenarios of 105 and

parity depending on the intensity of the trade war and fiscal stimulus which is also a key uncertainty with the election outcome. >> interesting how the potential parity is back on the table. before i let you go, george, i want to understand a comment i read in one of your notes. you are predicting a real risk of seeing negative rates in europe and especially in switzerland. at this stage, it seems like a far fetched idea of negative rates in europe. tell us why you think that is likely to return. >> so, i think we need to separate out, obviously, again depending on what scenario we get overnight. if you just look at the data, there are some countries in europe which already have inflation below 2% and some, indeed, are in deflation. switzerland is -- is the one that stands out. inflation numbers the last few months have been negatives.

rates already at 1% so they can't cut much more. sweden is another example of falling in disinflation. that would increase the pressure on the central banks to potentially have to go negative. >> interesting times, no doubt. thank you for sharing some of your thoughts today. that was george ceravellos at deutsche bank. do not miss our coverage. we kick off our coverage at midnight london time. coming up on the show, we'll be looking at gold prices at this stage holding steady as traders eye the u.s. election. we'll look at what has been driving the precious metal's recent rally after this break.

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welcome back to "street signs." let's get a check of european equities. they have been trading over an hour at this stage. indeed, it seems it is a bit of a cautious approach among european investors this morning. we have the stoxx 600 up .22%. yes, we have been looking at several corporate stories this morning, but it is, no doubt, that the u.s. election is taking center stage. we had stoxx 600 ending the day lower by .30%. a bit of a change in narrative this morning, but an overall cautious approach with the investors. i want to take you to the

bourses. we are seeing pockets of green on all of the bourses at this stage. i would highlights dax at this stage is up .20%. this market ended the session down fo.60% on monday. ind indeed, when it comes to the political tensions, we are not seeing a collapse in the german coalition at this time being after the minister eased the economic views for the country. i want to take you to the corporate stories this morning and get a check on the different sectors at this stage. in terms of the best sector, basic resources. it is important to think about the stimulus measures from china and the expectation is the critical detail from the authorities by the end of the week and that could continue to support basic resources as well as other parts of the market. we are also seeing retail trading higher by .60%.

when it comes to the worst performing sectors, this is the picture. we arelooking at pressure with oil and gas stocks down .4%. it was actually this sector that was one of the best performing sectors on monday off the back of the moves in oil prices. however, at this stage, it is moving lower and the worst we are fperforming sector. let's me take you to dhl. it reported a miss in the third quarter income coming in at just over 750 million euro. this a week after the global logistics group lowered its full year and midterm guidance as well. the ceo tobias meyer said the company has been dealing with weakening trade momentum throughout the year, but looking for the peak holiday season. while china is looking for the

economic slowdown, the company is offsetting lower trade with elsewhere. >> there are concerns about the domestic consumption and economy in china, but it leads to more exports. there is quite a bit of export pressure and companies don't seem to find a buyer domestically and now push abroad to have an export led development economy as well as whilest the trade with u.s. and europe is not as dynamic as it used to be, we shouldn't turn a blind eye with china to the rest of the world continuing to boom as it has in the last three, four, five years. >> the adecco group post the a year on year decline while gross profit declined 9% to 1.1 billion euro. the group says it has seen challenging environments in france and the united states as

well, but finds strength also where. the cfo carl williams told cnbc he is seeing clear geographic al weaknesses. >> the margins, you mentioned are down, but we think this is a robust result and challenging market. if i step back and look at what's happening, as you say, it's a very complex picture. there are different parts of the world where we're seeing buoyant labor markets and good growth. for example, latin america, asia pacific, some of the southern european countries are proving pretty robust, but then if i look at northern europe, there are real macroeconomics pressures in a number of different markets which are impacting the industry and the u.s. market is uncertain and has macroeconomics pressures. >> staying in the corporate sector, syensqo narrowed its

underlining profit forecast for august with 1.44 billion euro and bringing the top end range down by 35 million euro. the belgium chemical maker announced 350 job cuts, around 10% of the job force. the ceo told this channel that despite the layoffs, opportunities to improve the company lie ahead. >> the decision is never taken likely. having saying that, that opened the conversation with the potential of 300 to 350. this is less than 2% of our work force. we are here to better meet the evolving needs of your customer which will accelerate their growth and relocate into geographies with a strong

potential. having said that, we are separating from our systems in 2025 and we are creating more than700 new jobs in i.t. and business structure and intelligence. the uk watch dog vodafone addresses concerns by network investment and customer protections as well. they will make the final decision by december 7th. vodafone believes cma has a final path to clearance for the deal. let's turn to the commodity space. gold prices are steady as traders look to the outcome of the presidential election stateside and on thursday with the meeting of the federal reserve. i'm pleased to say the partner at s & p angel is here to

discuss the outlook for gold. john, good to have you on the show. what a year it has been for gold. stellar performances hitting fresh highs regularly as well. what do you think the u.s. election is going to mean for gold? >> i think gold has been playing catch up on inflation and it was held back by interest rates for quite some time. now, the u.s. federal reserve is cutting rates. central banks around the world are looking for a weaker u.s. dollar and stocking up on gold. they also have been encouraged by putin and president xi who like to break the dominance of the u.s. dollar in global trade. yes, that is -- they are having some impact. i'm not sure it's because they want it. it's more that everybody else want it. you know, they don't want to be be beholden to the u.s. dollar. you have the election, trump

versus harris, both side they will spend more money. we are talking trillions of dollars of more cash. that is inflationary. trump is more inflationary over harris. we look at the federal reserve. i think interest rates will carry on regardless. that means a weaker dollar. remember, lots of other nations around the world are also looking to cut their interest rates and also looking to do that without collapsing their currencies. probably still a weaker dollar. >> we have on our screens at this stage the spot gold price. i was looking at commentary suggesting we could actually see gold hitting, overcoming the $3,000 mark over the next 12 months. by the end of 2025. do you agree with that call and

why could it take one year to get there given it seems we're not that far at this stage? >> look, i think that's a fair call. i don't think many people are brave enough to forecast it jumping straight over $3,000 right now seeing as it has had a good run so far. it does have great momentum behind it. i think there is go reasons central banks will carry on buying gold because there is so much uncertainty in the world. a trump win creates more volatility and uncertainty. harris will bring on calmer markets. it's difficult to know. as long as the u.s. is cutting rates and the dollar is on a slight weakening trajectory, then i think gold carries on going up with the rest of the commodities. >> i would also like to look at the stimulus measures from china. we addressed the u.s. election and you addressed the federal reserve as well. i would like to understand really if there is further

upside for gold with the further details we are expecting from chinese authorities with the stimulus measures. >> china has been buying physical gold in the high street. the chinese government is going to do whatever it takes to restore the economy and maintain economic growth. i think they're happy with slightly weaker growth than there was. they have this huge problem with the property market to recover. actually, we saw yesterday figures that the property market was recovering. property prices are recovering. the one doesn't say the whole event is over. we know there are half finished properties or quarter finished properties that need to be rebuilt. there is a degree of restructuring. they are providing all kinds of incentives to buy property in

that market and unlock the enormous cash that is locked newspa up in consumer savings at the moment. they are buying physical gold. we are seeing that in the u.s. we are seeing consumers buying small bars of gold at walmart more example. there is more buying because of so much uncertainty. >> john, i would like to understand how you read the fact that central banks are buying more gold. the fact we have seen stellar performance for the commodity and the central banks are buying more of it. should we be concerned about what that tells us? >> no, i don't think. central banks are fairly slow to adjust their strategies. we worked out a little while ago with the saudi arabia bank buying more gold. lots of countries know u.s. will be raising more money with big bond issues. we've got the same in the uk.

again, there will be a big gilt issue coming down the line. some investors, money will get moved from one side to the o other. it could create a bit of central bank selling. i have a feeling that central banks are there to create stability. i don't think they want to be selling a commodity that creates stability right now. if anything, they are looking at gold reserves and say we just don't have enough of it right now. >> well, very good to have the chance to speak with you. that was john meyer, partner at sp angel. coming up on the show, we will continue europe coverage of the election. we will be hearing the final pitches from both candidates. all the details after this break. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com.

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welcome back to "street signs." i'm silvia amaro. here are your headlines. it's election day in america. kamala harris and donald trump make their final pitches to the american people holding their last rallies in crucial battleground states. >> we will win because when you know what you stand for you know what to fight for. >> we can fix every single problem our country faces and lead america and, unindeed, the whole world to heights of glory. the euro trade and the stoxx 600 trades along the flat line as investors hold their breath ahead of today's vote. elsewhere, treasury yields slip and the dollar wavers. strike over. boeing rises pre-market as workers vote to end their walkout after seven weeks

accepting an improved contract deal and easing pressure on the troubled planemaker. saudi aramco net profits slide more than 15% in the third quarter on weaker prices and lower refining margins, but still tops expectations while maintaining its $31 billion dividend. ♪ let's take a look at how uk pmi figures have just come in. we are looking at global services pmi at 52.0. that was the actual number. higher from what analysts were expecting at 51.8. the global pmi figure for the uk also came in above expectations. marginally at 51.8. all in all, though, when you

think about the uk economy at this stage, of course, we got very important detail from the new labour government last week. so traders still die ggesting t new fiscal plans from the government. let's not forget as well this week we will hear from the bank of england. expectations we could see further rate cuts in the near future. let's see what the message will be from the bank of england. it will be important to hear from andrew bailey this time around now we know exactly the plans of the new government. briefly, i want to take a look at sterling/dollar. sterling is moving higher against the greenback almost .20 at this stage really. we know we are looking at weaker dollar and naturally that is impacting this specific trade. i also want to take you to the broader scene in european markets in terms of the equities

space. we have been trading for over an hour and a half at this stage. indeed, we are seeing green across all of the major bourses. all in all, it is important to keep in mind it is a bit of a cautious approach we are seeing among investors today as we await the outcome from the u.s. election. it is, no doubt, the one event in the minds of the investors. of course, it is also a very busy week when you think about corporate earnings here in europe, when you think about the policy decisions. no doubt, the topic is u.s. elections state side. this could be a positive start to the trading session after what was a lower session on monday. indeed, overall, a muted approach from investors also on wall street. let' let's take a look at boeing shares. boeing workers agreed to the

deal bringing the seven-week long strike to an end. a 38% pay rise across four years with the union calling the vote a defining moment. boeing was pleased to have reached a ratified agreement and in terms of pre-market shares, we have that chart for you on the screen at this stage. it is definitely a positive move for the company, but let's see what the future will hold for the company. it is, indeed, election day, not that we have mentioned that yet. all eyes on the u.s. political scene. the first voters will head to the polls in vermont in less than half an hour in what appears to be a neck and neck race for the presidency with close contests also likely in the battling for con trofl the house and the senate. there's a lot at stake as we await the outcome from the u.s. election. nbc's jay gray joins us from philadelphia in the key swing

state, of course, of pennsylvania. jay, what an important day for u.s. voters, no doubt. given that you are in pennsylvania, i would like to understand really, what are you hearing on the ground? what have voters told you over the last 24 hours? >> reporter: well, i think, silvia, this is a split state, like so many of the polls indicate. split between republicans and democrats and we really won't know the ultimate message until the votes are counted. i'm standing outside of the museum of the american revolution. the building that houses so much of the history of this nation and those that formed this democracy. later today, a portion of this building will be making history as it opens as a polling place. we expect to see lines stretching for blocks outside of this building. people waiting to vote here in philadelphia. that's a scene that's going to

play out across the country today. there was heavy early voting in this race, but you are right. i think because of what the polls show and because this is such a close race, i think what we're going to see is this could be determined just by tens of thousands of votes in those six or seven swing states. pennsylvania could be the tipping point in all of this. it has been in the past. only one person has won the white house without winning pennsylvania in recent history. so, it will be interesting to see how things play out here f. it does come down to the count in pennsylvania, election officials are quick to point out it may not be hours, but days before they are able to declare a winner. they can only begin to count even the early ballot, the early voting and absentee and mail-in ballots at 7:00 a.m. local time.

while in most other states, they already started that process. it could take some time. i know the country's anxious after what's been months of contentious campaigning and some back and forth and just relentless advertisements on television. the country ready to get past this and elect a new leader and start to move forward. again, it could, silvia, take some time. >> indeed, jay, it is not just in the u.s., all of us outside the united states are monitoring what is happening in this election. thank you for breaking it down for us for now. let's get a check of shares of donald trump media tech are trading in the pre-market. this has been, of course, one of the stocks we have mentioned in relation to the u.s. election t. is up at this stage in the pre-market, but let's see how it could move later on as we await the outcome of the election. staying with this theme, a pennsylvania judge allowed elon

musk's $1 million give away to proceed in the case which the district attorney accused musk's campaign group of holding an illegal lottery. the judge denied a bid to block the contest saying he will layout his reasoning later. more than 78 million americans have already cast their votes through mail-in or early in-person voting as well with 41% of those ballots cast by registered democrats and 39% by registered republicans according to nbc news data. to discuss this election, matthew bartlett, republican strategist and former trump campaign adviser on. good to have you on the show. last time, you told me you believe in policies of donald trump, but you were not a fan of

his personality. with that clarification in mind, how would you describe the republican campaign? >> well, i think there's a mix and a balancing, but probably largely speaking, the republican party is the donald trump party. it is the party of maga. for the better part of ten years, since coming down the escalator, donald trump has been a looming figure not just in republican politics, but american politics. today, voters will decide if f there is a second term or second act or if this is his final curtain call. >> have the republicans done enough, you think, to win this election? have they focused on the right targets in terms of voters? >> um, we will see. right now, it seems as if the most powerful issues of the day are the economic pressures, are the issues of affordability,

especially in the battleground states, the heartland of america where americans are struggling with inflation. so, republicans feel as this they have a powerful argument there. again f you look over the last week, donald trump continues to do his own style and brand of divisive or entertaining politics, whether madison square garden or some of his rallies that really many republicans feel is not conducive to a strong closing argument . in the end, we will see if that matters. >> you suggested that, perhaps, if donald trump does not win this election, he, you know, could be not the choice for the republican party next time around. i would like to understand what is the future for the republican party and also for donald trump in u.s. politics, really, given his role in the republican party over the last couple of years. what is his future if he doesn't

win the election? >> really good question. i would say donald trump right now is going to head to the white house or possibly to the big house. mean meaning, if he does not win this election, the former president will be sentenced to jail. that would be a historic notion. conve conversely, if he does win today, which is possible, or likely, it would be the greatest political comeback in american history. so, a massive, massive night for team trump. also, if kamala harris were to win, she would be the first black woman ever elected in america. the these are historic notions. only half of america will celebrate. if donald trump loses, i believe many of his populous politics w

w withmilitarily and trade and focus on the american worker will remain core to the republican party and then, you know, some of the populist programs that people like, that include a lot of spending, may also remain, too. we will see what happens, but it is unclear if we ever see a personality like him ever again. >> matthew, you actually resigned from the trump administration in the wake of the january 6th events. i was wondering how likely is it we could witness a similar event to the january 6th, the day we watched what was what's happening on capitol hill given the polarization of politics. how likely is it we could see a similar event take sflas. >> what an ugly day in america. i'm glad that is in the rear-view mirror, looking forward here, i do believe with

such heated rhetoric and such events from assassination attempts, i think there will be a appeal to cooler heads. i don't think the public has any tolerance for this and i truly think not only our elections absolutely be secure in voting, but i think a lot of the myths around an election fraud will be -- be -- be blown off and you will see calm here in the u.s. regardless of the outcome. >> right. we expect that calm regardless who the next president. whoever that person is, whatever the outcome we get from this election, do you think that it is feasible, it's possible in the near future to actually reconcile america and put to some extent an end to the polarization we have so far? >> silvia, that is the right question. that will be answered here in

washington, d.c. by how leaders make decisions in the new government, but it will also be -- be developed across our country and whether this is an inflection point or whether, you know, you know, each neighbor decides to treat one another regardless of party because it seems as this election and politics has crept into every facet of american life. more than just, you know, what you watch on tv, how you consume media, your social media, you know, the role of politics has become overwhelming for many, many people. hopefully after this election, you will see a withdrawal of that and you will see people that are much more willing to talk to each other and certainly leaders work on behalf of the american public. >> matthew, we are looking at this election from the outside. we are not u.s. voters, but, of course, we are keeping a close eye on what the vote will mean beyond america and what it means

for foreign policy. what i like to understand is from your experience within the republican party, are there any sort of conversations, detailed conversations even, about what the campaign is saying and what the narrative is and how it's been perceived abroad? >> um, i think so. i think the republican party -- let's remember, you know, a few short years ago, absent donald trump, the republican party mantra right now could be to encourage a military strike against iran. a very escalatory and inflammatory notion. yet, that is not the case. what you are seeing are calls for restraint. a republican party that is pushing and arguing for a peace process in the middle east, in europe, in ukraine. kind of a real politic. i think that is a very compelling notion and positive force within the republican

party and maybe within the country. there has been decades of war fat fatigue. americans do not want to engage militarily. they are focused on the economic competition with china. there is a notion that we should have a role in the world and force for good and a voice for peace. >> thank you for the c conve conversation. not long now until we find out the outcome of the election. matthew bartlett, republican strategist and former donald trump campaign adviser. keep up with our live blog on cnbc.com. do not miss our live election night coverage from the new york stock exchange. we'll be kicking off our special coverage add midnight london time first thing tomorrow morning. as we approach the end of the show, time now to look at the four things to get you up to speed ahead of the open on wall

street. u.s. voters head to the polls today with donald trump and kamala harris targeting the oval office. the first polls open in vermont in a few minutes. while we wait the result, we will see new u.s. trade deficit figures and services pmi released this morning. boeing workers have voted on the pay package. and palantir shares are higher after the company reported a 30% revenue jump in the third quarter. coming up on the show, saudi aramco net income slides in the third quarter as the company sees a hit from lower crude oil 'lbrg u e mbs wel inyothnuer after this break. rench? who, me? i know a few words. if you're struggling to speak a new language, you should try babbel, a learning platform designed by over 200 language experts. it's like having your own personal language coach.

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welcome back to the show. let's take a look at astrazeneca. the company actually said its experimental weight loss pill is safe appand tollerable after pag trials with 72 people. the company has progressed the drug into phase two clinical trials with the tests expected to be complete by the end of 2025. this is an important development as we witness the frenzy with glp-1 drugs. staying in the health care space, fresenius is sticking to the guidance. net profit hit 320 million euro. the company's key profit indicator, operating profit, rose 43%.

the medical care ceo told cnbc the firm is not worried whoever wins the u.s. election. >> being one of the largest dialysis providers in the country, thankfully because of the size of the patients in the u.s. we have a lot of bipartisan support for our industry and for our patients. you know, way back to nixon that put in the current mechanism for reimbursement. obviously, obamacare, and even with trump with the executive order on kidney care and with biden giving relief for the pandemic. so, we've always seen no matter who's in power good support and bipartisan support for the industry. of course, we're all watching anxiously to see what the ultimate results will be. we will see as the week goes on.

third quarter profit for vestas expecting a full-year operating margin before the special items at the lower end of the guided range. looking to the u.s. election result, ceo eric anderson said he would continue to work with both parties. >> it is one of our key markets for 30 years and for us, it is an election day. our job is not necessarily to spend a lot of time on trying to predict a winner or number two place in there, but probably more important for us as we have now demonstrated for 30 years, to be able to work with both sides of the chamber and also with both candidates. lower crude prices and refining margins hit saudi aramco in the third quarter as net income slumped 15% to $27.5 billion. that's above the company

provided consensus. the energy giant said it would maintain its dividend at $31.1 billion. dan joins us with more. dan, you've been looking at the numbers. the drop in profit didn't seem to really be, you know, a huge topic of concern for share ho holders, did it? >> reporter: that's exactly right. saudi aramco will be paying the enormous dividends. despite that, we have seen the stock drop through the course of saudi trade today. this is interesting to watch moving forward. also important to report, we are live at the conference in abu dhabi checking the pulse of the oil industry as we come into the volatile time for the energy markets and the aftermath of the u.s. election no matter who claims victory here. what people are talking about on the ground here is the consequences for policy.

no big oil major is immune here. what we've seen here is a downbeat quarter q3 for big oil. some of the companies reporting not just disappointing, but pullbacks in net income as a result. saudi aramco is the biggest of big oil. we saw it reporting $27.6 billion in q3. take a look at this. with regards to the peers, exxonmobil and shell and chevron reporting lower income in q3 and numbers down significantly n. terms of what is driving this is weak oil and weaker margins as well. it is also sluggish oil demand particularly with prices and selling into china and the asian markets. at the same time, i flagged earlier as well refining pressure and uncertainty. nevertheless, what we will see is aramco pay out the leading industry dividending to the

stakeholders which is the saudi arabia government. $21.3 billion is the base number. a performanced linked dividend as well. that is dois despite the fact we oil prices down 20% in q3. as i mentioned before, a lot of uncertainty with prices as well. >> exactly. thank you for breaking it down for us. that was dan murphy live for us. as we approach the end of the show, i want to take a quick check of how european equities have been trading. at this stage, we havehave gree across the major bourses. all in all, there is a cautious approach with the european investors. that also seems to be the case with the u.s. investors suggesting a positive start on wall street. that is it for today's show. i'm silvia amaro. "worldwide exchange" is coming up next.

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just one more day. one more day. one more day left in one of the most consequential elections in our lifetime and momentum is on our side. >> you show up and you're going to have the biggest victory. you know what this will be? the single greatest victory politically speaking in the history of our country. >> presidential candidates kamala harris and donald trump making their final push into election day.