nothing in that script about sexual obsession and a hunting knife, a man who wanted what the other had. ♪ welcome to "street signs" on this thursday morning. i'm silvia amaro. here are your headlines. christian lindner putting the country on course for a snap election. calling for a confidence vote as

soon as possible. the trump trade takes wall street with major u.s. indices closing at record highs. the dow rallying 1,500 points driven by bank stocks after kamala harris concedes the election. >> i know folks are feeling and experiencing a range of emotions right now. i get it, but we must accept the results of this election. while i concede this election, i do not concede the fight that fuelled this campaign. the race for the u.s. house majority remains in balance with the republican party nine seats short of completing a sweep of congressional powers. and the banks cuts on the central bank super thursday with the rate decisions still to come from the fed and bank of

england. we will hear from bank of england governor andrew bailey at 16:00 gmt. we start today's show looking at the latest political developments out of germany where the chancellor olof scholz has dismissed his finance minister christian lindner bringing an end to the three-party coalition and plunging the largest european economy in political uncertainty. the move followed weeks of arguments really, between the coalition partners over next year's budget. speaking at a press conference, scholz said he could no longer work with lindner in the same government. >> translator: loud i'd locally

cally demands. too often he has engaged in petty party tactics. too often he has broken my trust. he even unlounlast raleigh with. serious government work is not possible in this way. >> the deputy finance minister and chancellor official jorg kukies is slated to be named the next finance chief according to several media reports. scholz confirmed he would hold a confidence vote in the bundes on january 15th. however, the leader of germany's opposition, christian democrats is calling on scholz to hold the vote next week at the latest and prepare for elections as soon as january. now, the reports suggest that

christian lindner and other cabinet members will formally be dismissed this afternoon. speaking last night after being kicked out of the government, the former finance chief accused the chancellor of ignoring pressing issues in the country. >> translator: olof scholz has long failed to recognize the wake evening in the country. he has played down the concerns of the sitcitizens. even now he is questioning the decisions so citizens can be proud of germany again. >> let's get a check of german assets as traders are digesting what is happening on the political scene. as you see on the screen, dax, the main market up 1.3% at this stage. however, what we could be looking at here is a potentially re-prizing here. when you think about the dax yesterday t ended the session down 1%.

at this stage, however, it seems we are seeing a bit of momentum, really, when you think about german equities at the moment. i also want to take you to the bond mark. it is a good benchmark to look at when you uncertainty. we are seeing the yield on the ten-year bund trading higher at 2.45%. we are seeing moves higher with the two-year bund. when you think about what is happening here, investors are looking at the political scene and also the dynamics coming from the ecb. worth keeping in mind at this stage a school of thought suggesting we could see further rate cuts from the ecb as a result of what happened in the u.s. with the election outcome. but i want to return tlo the latest from germany. annette, you have been looking at the political scene. what i like to understand here is what i will see next because

you have one part of the political scene asking for elections in the month of january and olof scholz suggesting that the confidence vote is only happening at the start of the year. >> reporter: that's a fair summary of what we know so far. olof scholz stepped out today at quarter to nine saying the vote of confidence should take place next week, but the remaining parties of the coalition government, the green and spd, say they are still insistent for january on the vote of no confidence. a lot will happy over the weekend. clearly, olof scholz needs the christian democrats, his party, to pass a budget by next week for next year and he will only probably agree to a couple of things if olof scholz is not

insistent of hanging in there, so to say, and only ask the vote of confidence in january. i guess the pressure will mount over the weekend, at least in my experience on the spd and on the greens and on olof scholz that he will most likely move earlier than january 15th because clearly there's no interest in having that big lame duck in germany. the biggest economy of the euro area of europe. having said that, this is still speculation. that is what happens behind the scenes right now because clearly the budget 2025 still needs to be cleared and still go through parliament. there are a couple of items which are not yet clear where the money could come from. olof scholz needs the approval from the christian democrat now with the coalition.

the institutional process sees a vote of confidence within 26-day snap election. that would mean a new election could happen as soon as the second half of january here in germany. >> we'll continue to monitor what happens in germany. thank you for breaking it down for us this had morning. now in other political developments, donald trump is the president-elect becoming the first president to return to the white house after an election defeat in more than a century. trump currently has 291 electorate votes with democratic rival kamala harris on 226. trump won victory in all five of the key battleground states where nbc news projected a winner. he is leads current vote tallies in nevada and arizona where the races remain too close to call for the time being. speaking to supporters at a watch party in florida late tuesday night, trump said he would fight for every american.

>> this was a movement like nobody's ever seen before and, frankly, this was, i believe, the greatest political movement of all time. there's never been anything like this in this country and maybe beyond and now it's going to reach a new level of importance because we're going to help our country heal. we're going to help our country heal. we have a country that needs help. >> and kamala harris called trump to concede defeat yesterday afternoon before speaking to supporters in washington, d.c. >> i know folks are feeling and experiencing a range of emotions right now, i get it, but we must accept the results of this election. while i concede this election, i

do not concede the fight that fueled this campaign. >> and the republican party also secured control of the senate currently standing at 52 seats gaining three with four races yet to be called. nbc news is not yet able to project control of the house of representatives with the republican party nine seats away from the 218 required to secure majority. now to discuss the latest from the political scene and impact on the u.s. economy, i'm pleased to say the u.s. economist at abs is here with us in studio. first, i would like to understand the implications for the u.s. economy. now we know donald trump is the president-elect. a lot of rhetoric coming from him in terms of tariffs and higher inflation in the u.s. what do you think we'll see in the u.s. economy? >> yes, so i think as you

mentioned that trade policy and tariff policy is one that people are watching throughout the election. the other is fiscal policy and the final element of policy we think could be impactful is immigration policy. if we start with the trade policy, there's been a couple of policies throughout the campaign that the trump campaign referenced. the first is 60% tariffs on china and the second is a 10% tariff on the rest of the world in terms of imports. our expectations are china tariffs will be a priority still. so when we did some modelling, scenario modelling ahead of the election, we modelled a 60% tariff on chinese import goods. we saw that in 2018 and 2019 with the ramping up of tariffs in terms of the goods are covered. our expectation is you can see a

potential inflation impact of 35 basis points and then in terms of the implications for the economy and growth. we think that could take around a couple of tenth of growth with china tariffs. >> are you projecting lower economic growth as a result of trump victory? >> i think the key here is policy mix. if we end up with a fiscal policy mix that's potentially more supportive for the economy, alongside, you know, tariffs, it will depend how far the tariffs are pushed. if you did see kind of an increase of tariffs across the rest of the world imports, we estimate that could take 0.6% off u.s. growth. on the fiscal side, the extension of the expiring 2017 tax cuts alone isn't necessarily that stimulative because you are just keeping the existing tax

code in place. from the fiscal perspective, if we are looking for supportive policies, a cut in corporate tax rate referenced in the campaign and potentially some of the individual removing income tax on tips or the kind of social security taxes that were proposed through the campaign, there is some potential for those to be stimulative. we actually see a small impulse under trump. our expectations of 0.1%. there is a question in terms of how you see the balance between all of the policies in terms of the growth implications. >> what does that all mean for the fed? if you assume, if you take the school of thought that there could be higher inflation stateside and the fed expected to cut by 25 basis points today, what is the outlook for the fed in 2025? where does the fed go from here? >> so, i think there's a really important point to make here

around the timing of these policies and the timing of when they likely would be hitting the u.s. economy. our expectation is it to take longer for tariffs to be imple implemented. we think the section 301 process involves the kind of hearings and a number of procedural elements. it could be a second half of '25 story. our expectations is the path for fed currently and expected to cut 25 basis appoipoints today e think they will skip january and deliver a further couple of cuts from march onwards. i think there is potential to see the cuts from the fed before the tariffs and before some of the other tax policy changes would actually be implemented. it is not likely we would see the fiscal policy changes until the 2026 tax code. >> we have at the moment the chart for the ten-year treasury.

when you think about the performance for treasuries over last couple days amid the trump trade, we are trading at four-month highs really. what i would like to understand is the implications for the u.s. consumer. there are a lot of question marks of the resilience for the u.s. consumer. are we at a point where we test the health of the u.s. consumer? >> our base case forecast, we have the consumer slowing from here. obvi obviously, in the latest gdp report, you saw a strong pace of consumption and strong pace of goods consumption. we think services consumption will normalize to trend running 2.2%. but which think goods consumption could slow further given some of the strong increases we have seen. that resilience. our expectation is we see the consumer slow into next year. >> we will see what implications

it will have for economic growth as well. thank you for your comments. that was abi watt from abs. coming up on the show, we'll eak to the ceo of veolia after it reported its full-year guidance. stay with us. - oooooooo! the oh, oh, ohhhhs! now whatcha wanna do with this? but the feeling that, no matter what, you're taken care of. ohhh, i just earned a hotel suite! hee! you only get that here. at the sportsbook born in vegas, where they know how to treat you right. who you talking to jamie foxx? bonus bets. exclusive offers. real world rewards. betmgm. download and bet today.

welcome back to the show. we discussed plenty on the political front, so let's look at the corporate stories as well. zurich says it is on track to exceed targets after a 4% rise in the property casualty insurance premiums for the first nine months. this as the insurance giant said preliminary pre-tax losses contributed to hurricane milton are estimated to come in below

$4 billion in the fourth quarter. the ceo told this channel that recent floods in spain should not hit its business. >> floods and what we call general secondary payroll, flood, hail, wildfires are becoming actually not secondary at all. they bring great disruption to society and communities and bring a considerable financial loss to businesses and communities at large. we are increasing at szurich an the industry. governments need to do more on the resilience of society. now specifically on spain, to your question, there is a c consortium that we expect will absorb the greatest impact of the floods. zurich's exposure in the region in spain is traditionally not

large, so we don't expect it to be financial materially a topic for us. and munich re posted a third quarter result of 900 million euro and is on track to exceed the target. the insurer saw a loss in its property and casualty business in the quarter largely impacted by hurricane helene in the united states. munich re cfo told this channel that the firm will compensate for any short-term losses. >> short-term? yes, you're right. those are big events, they're expensive. it is also our job to pay those claims. we're happy to do so because it is the purpose why we are there. you see in q3, we are able to come pensate for them. we were able to compensate the losses. heidelber materials hiked

revenues by 100 million euro to 3 billion. this on the back of more than 5.7 billion euro in third quarter revenue. veolia confirmed full-year guidance followed continued strong revenue growth in the first nine months of the year. core revenue rose to over 4.9 billion euro. i'm pleased to say estelle brachlianoff of veolia is here with us. to start our conversation, highlight how the last quarter panned out. >> the last quarter was very good as was the first part of the year. very solid set of results, as you said, both in terms of top line and bottom line which is no

miracle. it's really the product of what i would call a winning formula. the green strategic plan with resilience and growth and within the context we see politically and fiscally as well as macroeconomicsly. this is a big choice . >> you are highlighting the political uncertainties at this stage. naturally, everyone is still looking at the u.s. in the wake of the election. what i would like to understand is how are you looking at the outcome and are you to some extent concerned about a next trump presidency and what it could mean for environmental policy? >> in terms of the company i run, our extrajectory in the u. stays exactly the same with trump elected in the white house. a lot of people have asked us how is that so.

again, this is a series of very important choices and things. one is, we are very local in the u.s. we serve a consumer community level as well as industrial customers and the demappend is e and the demand is here to stay. this is protecting health when we talk about political movement. we're talking about supporting growth and exstrategic industri. they desperately need water and this is exactly what we are super good at. we are the leader in the world of the industry. the underlining trends are here and to say whatever happens in the white house. we have a powerful trajectory in

the u.s. and the rest of the world. we are very much an international company and the engines for growing our results are here and very powerful. >> just perhaps to finish on your business in the u.s. there is a lot of conversations happening at this stage whether we could see parts of the inflation reduction act actually remove, stripped apart. we saw pressure on the u.s. stocks as a result of that yesterday. what i like to understand is how and whether that can impact your business because when the legislation was announced, there were many european companies that were very happy about it, but is this now perhaps a point of concern? >> so the answer is no. no impact on our extrajectory. why is that so? we don't benefit from the subsidies in veolia. we don't have contract with the

governments or taxpayer. that's why we are not impacted by any other, i don't know, tariff on inflation. again, the demand is here. it is here to stay. we are uniquely placed to benefit from that. >> good to hear that. i would like your thoughts on the message you would give to the new european commission and a lot of kconsiderations at thi stage with european policy next. what would you like to see them do? >> the first thing is in a way, as business applies in europe, we don't need a lot of help to deliver results. that's why our model is important with solidity and growth. if we want to have a bit of health and spinning up this trajectory, i guess putting in investment with climate change

would be one which is top of the agenda and i'm talking about investments and with the conjunction of public and private partnership because we need that as well as a global framework which helps everybody to be having a very clear visibility over the next few years. chief for investing, including private money is visibility and stability. so, that would be my wish list. >> right. well, i would also like to understand a little bit better your thoughts around the fiscal position because you highlighted there that that's also on top of the political scene, the strained fiscal positions in europe is something you are monitoring. could you give us a little bit more color on why this could be potentially a concern for the future? >> when i say business is powerful and resilience and growth applies to fiscal elements. we are a worldwide company.

80% outside france to give one example. more than 5 billion in the u.s. we may have increased tax outside of europe. we may have decreased tax in the u.s. i would look at the company as a global picture. if you look at the tax specifically in a few countries in europe, i guess we will have to probably bear some effort from veolia. this is perfectly normal. i still can confirm fully our guidance for the year thanks to the formula and going forward, i would suggest we don't stop investing in what's important for the continent, european continent with results to climate change which is key. as we see in spain a few days ago. this is a testimony of the fact that actually this is happening here now and the good news is we have part of the solution that's

exactly what veolia does to offer affordable solution to tackle climate change consequences for everybody and affordable as well as protecting your health. that's where i come back. we have solutions. so the thing is to implement them and deploy them as we can. >> right. we'll continue to monitor the out outlook, indeed, at this stage shares are under pressure. we will see how investors continue to trade on the results. estelle brachlianoff of veolia. > mi uthe show, the trump trade and what could happen next. we'll dig into that after this break. cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to

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welcome to "street signs." i'm silvia amaro. here are your headlines. olof scholz fires christian lindner collapsing the governing coalition and putting the country on course for snap elections. the opposition leader calls for a confidence vote in the chancellor as soon as possible. the trump trade takes wall street with major u.s. indices closing at record highs. the dow rallying 1,500 points driven by bank stocks after kamala harris concedes the election. >> i know folks are feeling and experiencing a range of emotions right now, i get it, but we must had accept the results of this election. while i concede this election, i do not concede the fight that

fueled this campaign. the race for the u.s. house majority remains in the balance with the republican party nine seats short of completing a sweep of congressional powers. the central bank cut rates by 60 basis points and the norges bank hold with the rate decision still to come from the fed and bank of england. we hear from the bank of england governor andrew bailey at 16:00 gmt. time to get a check of european equities that have been trading for just over an hour and a half. indeed, we are seeing quite a lot of green so far this

morning. we have the benchmark, stoxx 600, up about .6%. yesterday, actually, we did see a bit of pressure on the benchmark for european equities, but we are looking at a different narrative this morning. if you were to ask me if this were related to the outcome of the u.s. election, it seems this morning investors are a lot more focused on the messages and up coming messages from the central bankers. worth reminding it is fed day and bank of england decision. we will bring you that decision later today. when it comes to the different bourses, let's get a check of the european continent. germany's dax up 1.3% at this stage. we continue to monitor very closely what's happening in terms of the political dynamics in germany. a lot of question marks about when a snap election could take place after the chancellor olof scholz fired the finance

minister. let me take you to the different sectors as well so we can discuss a little bit better some of the corporate stories this morning. we have basic resources the top gainer at this stage up about 2.8%. when you think about this part of the market, we did hear from some of the positive trades at this stage are related to the positive results from the company earlier today. also worth reminding everyone it s also is important week in getting further details from chinese authorities with the stimulus measures. he we will wait and see. we take you to the worst performers at this stage in the session. it is important to look at telecom and healthcare and retail as well. healthcare down .2%. we continue to look at this part of the market amid all of the

discussions around weight loss drugs and indeed, we did hear from oneof the companies this morning making further progress in that part of the market. let's get a check of u.s. markets because yesterday was such an important day stateside. let me share some of the figure was you because it is quite staggering when you look at the rally stateside. looking at the dow and s&p, they posted the best day since november 2022. we look at the dow, s&p, nasdaq, they all hit fresh record highs during yesterday's session. when you think about the nasdaq, up almost 3% on the day. so how are we shaping up as we approach the open on wall street? these are the u.s. futures at this stage. they suggest we could see a continuation, really, of that rally that we witnessed yesterday. we are on track, for instance, to see the dow, nasdaq and the s&p, all three of them, all

three indices, trading in the green this morning. i would like to mention briefly yesterday the sector under pressure was actually real estate down 2.6%. of course, we are looking and we have been looking at higher treasury yields as well as that is having an impact when you think about real estate names. let's discuss a little bit more the action on wall street richard kelly attd securities. good morning, richard. good to have you on the show. first and foremost, where do we go from here? what a performance from wall street yesterday. are we likely to see that for the coming weeks? >> we knew there were different policy outcomes from this. i think day one was pricing in the rough moves. i think the market was generally on track in terms of the higher u.s. rates and paring back the fed easing. i don't think you need to overthink this.

this is a u.s. exceptionalism trade. u.s. inflation is likely to be higher than would have happened otherwise and the rest of world growth is likely to be lower than would have happened otherwise. that is giving you potentially higher u.s. rates for a time and the fed may not deliver as much easing. it is giving you a stronger dollar and giving you the tariff moves. e especially with china and mexico and canada and europe. that's where you are likely to see the most volatility. >> let's talk about treasuries for a moment. when you think about treasuries, we are trading at four-month highs for yields across the treasury space. what i would like to understand here is potentially amid further inflation stateside, how much could we see treasury yields moving higher the next couple months? where is it we will go?

>> obviously, a lot of focus on what chairman powell says today in the fmoc. you could see ten-year trade as high as 4.75. there is a lot of question where this goes and especially around fed policy. i don't think they managed the implicatiications yet. you could see the yields drift higher. i think investors are looking at better yields to get in, but i think people are wary of what the repricing looks like. i don't think you see a large number of people jumping in. i would expect it to go up. i would expect that to be a decent level and i do still think there is easing to come over the long term. i think there say risk of rates go higher, but the drift will come next year, just slower than it would have happened. >> also on gold because it has had an impressive run this year.

is this it for the impressive run for the kmcommodity? >> i think that was one market that did price yesterday given some of the other moves and given what was going on in rates and inflation markets. would you have expected more of a pull back in gold. there may have been technical factors and different uncertainty and volatility sitting around that made that sluggish. you will see catch up there. there is a down side to gold than got priced in on day one. that will take us a bit longer from here. >> let me bring the discussion back to what's likely to happen today when we get to hear from the fed. how far will they go in addressing the upcoming presidency and what it means for the economy? >> i really expect powell to say a whole lot of nothing today when it comes to that side of things. i think they deliver the 25 basis point cut today. there is still a possibility for them to deliver another one into

next year. what we discussed is, you know, while we thought the fed would continue to ease under a scenario where you are going to have a different policy path, if you look at the significant amount of increased spending expected and tax cuts coming next year and the inflationary expectations in tariffs, those are going to be inflationary. given where the fed was cautious here, they will still be cautious. this comes down to the labor market and what they're seeing. we saw a weak labor market last w week. the fed has an extremely weak labor report they don't want to read into. they have significant changes in policies and regulations they can't read anything into yet. there is no advantage for the fed to give any specificity at this point. unfortunate for those who are hoping to hear that. >> we have strength of the dollar as part of the wider

trump trade. what i like to understand is basically how are you positioning the portfolio when it comes to fx given that we now overcome this uncertainty around who's going to be the next president? >> i think the u.s. exceptionalism trade should still be a stronger dollar move here. i think you had a very strong move yesterday. you are seeing a bit of pullback today and moderation. overall, i do think there's more down side in euro especially if you look at the questions that come into the german government and coalition coming down next year. i think there's a lot more down side in terms of cnh. as we know, that's a particular focus on the tariffs side of things. that's a bit of pressure there. it also offsets the stimulus and support from the chinese government as well. there will be policy offsets on the other side that will be volatile to deal with that. if you looks at mex, under the microscope. a worst-case scenario with mex.

what's going on on immigration. i think there's still the down side there. with mex and cad, those are the two volatility. the question now is whether their membership within the mca is going to exclude them from a lot of the early tariff moves or not. as those come in, there are volatility in those two as we get clarification. the last one would be dollar/yen. for the moment, you continue to see that move higher, but the offset you are likely to have there, this now increases the possibility for the bank of japan to likely be hiking rates and returning to that sort of policy path. that means you might start to get some offset there. it really creates a lot more macro volatility within fx markets that is going to be possible to trade and manage around here as opposed to much more low vol directional path we saw over the last six months. >> right. well, we'll continue to monitor

all that. thank you for your thoughts this morning. that was richard kelly at td securities. now donald trump is the president-elect, becoming the first president to return to the white house after an election defeat in more than a century. trump currently has 291 electorate votes with the democratic rival kamala harris on 226. the republican party has also secured control of the senate with the race for the house majority still too close to call where the republican party needs nine more seats for control. nbc's jay gray joins with us more. good to see you, jay. perhaps just give us the latest, really, and are we any closer to find out what's happening in the house as well? >> reporter: yeah, no, it's interesting that vote continuing

to be counted. it's so tight. razor thin. we do expect to get more results today and may have a better idea of how the house is going to sort out for this second trump administration. and, look, next for president-elect, he shifts from campaign to transition. we expect to learn a bit more about exactly who may be key players in his cabinet. of course, there is discussion of robert f. kennedy jr. as perhaps secretary of health and human services or some type of white house health czar. rfk has received push back with the stance on vaccines and how it relates to autism. that will be interesting how it plays out. as well as elon musk and what we heard from his team is that elon

musk won't have a place in the cabinet, but he will be a senior adviser for the president in the white house. that will be interesting as well. look, vice president harris yesterday making her concession speech the day after the polls closed. urging her supporters to continue the fight saying that her fight will take a bit longer and also saying they've got to find some common ground over the next four years. president biden did congratulate president-elect trump during a phone call yesterday and inviting him to sit down for a meeting at the white house. we do expect to hear from president biden on the election a bit later today during an address to the nation. >> all right. thank you for breaking it down for us. always great to see you, jay. coming up on the show, the rickts bank cuts and norges bank

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welcome back to the show. we've discussed politics, we've discussed corporate devel developments. let's look at monetary policy now. the swedish central bank cut for the first time in a decade with more cuts signalled for december and the first half of next year as well. the move brought the central bank benchmark interest rate to 2.75%. meanwhile, the norges bank left the key rate unchanged at 4.5% with the norwegian central bank saying tight policy is needed to cool inflation. the bank of england is expected to cut interest rates by 25

basis points today in its first meeting since the new labour government plan. the chancellor rachel reeves set out new plans with the obr projections indicating a short-term boost to demand. stay with cnbc for decision time coverage starts at 11:55. steve and i will break the rate decision at midday. do not miss steve's interview as well with the governor andrew bailey at 4:00 p.m. we are looking ahead to the latest rate decision due at 7:00 p.m. london time. markets see a 99% chance of a 25 basis point cut as well. investors will be looking for any indication of the future rate path with markets seeing around a 1 in 3 chance that a rate cut today is followed by a hold in the month of december.

heertsleaders around the woe speaking out about trump's win. emmanuel macron said in a separate post he spoken to the german chancellor about making europe stronger and sovereign. volodymyr zelenskyy also congratulated trump and said his peace through strength approach could bring peace for ukraine. this as the european political community summit is taking place in budapest. pushing the alliance to boost defense spending. >> when he was president, he was around nato who stimulated us to move over 2% and now also thanks to him, nato, if you take out members of the u.s. for a moment, is above the 2%. very much that is his doing and his success and we need to do more. we know this. >> in fact, european leaders and

27 heads of state, will have dinner tonight where they are liking to discuss the outcome of the u.s. election. we'll have more details on that for you tomorrow. meantime, we have the latest representative to join us today. good to see you. good to have you on the show. >> thank you. >> what i would like to understand here is where do you think the democratic party got this campaign wrong? >> going into election night, i think many, many of both democratic and republican pollsters had said this was going to be a very, very tight race. it was truly a surprise, i will say admittedly, it was a surprise as i watched the returns of just not -- not just in terms of the -- across the board how trump fared well and

also how he fared well with so many different con the city we know constituencies. from young men and women and latinos and african americans. we need as a democratic party to take stock and how we message and how we reach out consistently, not just election time, but consistently to voters. there's much to be done and at this point, this is what democracy is all about. it is messy and unpredictable sometimes, but the people have spoken and there will be an orderly and peaceful transfer of power. >> so, you are suggesting it is basically a moment of reflection for the democratic party. so, what i would like to understand from your own reflection is what do you think the future is for the democratic party and ultimately for kamala

harris as well? >> sure. i think vice president harris led a very dynamic given the short amount of time that she had. a very dynamic and energized our base in so many ways. again, as i said, the reflection is we just can't put all of our eggs in terms of the blue wall. this has to be a 50-state strategy as was done not too long ago by the democratic party. it also has to be an outreach that is consistent and long term. that is one big difference that i see particularly in my latino community. the republicans have been investing and have been speaking to latinos for a very long time, for almost 20 years with the koch brothers. we need to serve as it touches the day-to-day individuals

across america. we have done a wonderful job investing. many are feeling the economy day-to-day. every day they went to the supermarket. we needed to address that. not just the long term investment that the biden-harris administration has done, but also addressing inflation and how we were making sure that the day-to-day experience was something that they could feel confident about. >> from the practical point of view and given your experience during the biden administration, what i would like to understand is where do you think the biden administration should focus over the next two months or so while they're still in power? what do you think they should try to get done? >> the biden-harris administration has done something that the u.s. hasn't done in decades. that is to focus an mettention displaced places across the country. from broadband and making sure

there was internet for all and roads and bridges and water pipelines and sewage pipelines and also investing in technology. that is where we need to continue to hone in so it becomes politically untenable for the next administration to even think about reversing course. i'm right now in chattanooga, tennessee, where there has been investment across not only the south, but rural america as well as the technology across the future with kwquantum and drone technology. that is what we need as the biden-harris administration need to continue to hone in deepening how we have seeded those investments so it makes it very politically untenable for the trump administration to try to undo it because it is making a difference and will continue to blossom as the years go by. >> well, we'll continue to

follow what they actually do over the next couple months. thank you for the time this morning. that was alejandra castillo at the biden administration. as we approach the end of the show, let's get a check of the u.s. futures. what a day on wall street yesterday with the dow, s&p ands that damage hitting fresh record highs during the session. at this stage, futures suggest a likely continuation of that rally. obviously, not as strong as what we saw yesterday, but indeed, still green expected for wall street today. in terms of what's likely to be in the minds of investors, we have initial jobless claims due as well as consumer credit figures. on top of that, there's also a lef earnings coming through. so, we'll continue to see how wall street will react to all of that. that is it for today's show. i'm silvia amaro. "worldwide exchange" is coming up next.

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it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." futures are higher as markets maintain the omentum. all three indices with the best day in years. trump and the red wave. few races undecided leaving the policy path in question. world leaders are congratulating trump on his victory. that includes xi jinping. we go live to china to