what it means for the trump administration in the booming economy. we are expecting a strong rally at the start of trading. s&p 500 up 27 points. it's one and half% higher. the markets closed higher yesterday. before the vote the dow industrial was up 100 73 points yesterday at the close. the nasdaq up a 47 points at the close yesterday. in europe this morning take a look at markets up across the board. in asia over night to finish mostly higher as you will see here. japan is the best performer. he can average up 1%. after a busy night on the election.

good to see this morning. thank you so much for joining us. what a night. what a reaction. see mac it. >> it was not a blue wave in the weight they would tell you. what the republicans were able to do in the senate cause the judgment cut some people by surprise. if you want 2.2 president obama versus president trump look no further than the state of florida where you have governor rick scott upsetting bill nelson. i'm very close to win over andrew gillam. both dylan. both presidents had campaigned heavily in that state. and those were two big ones. texas was really close as well. that was also a nail biter to

the end. it was proof that celebrity endorsements. do not matter. $70million. an endorsement from willie nelson to beyoncé. marsha blackburn pulls it off in the senate. if you're mitch mcconnell you have got to be thrilled. i believe deep --dash mike dean heller has actually come pleaded that race. she is so close to pulling off arizona. you can be problematic. but the margin is a razor thin. any and every bill even procedural bills are going to be up a jump ball.

when you only had one, two or three seats in your party. you get three or four people who decide to go another direction and you can't pass anything. you looking at donald trump and think he is the worst person on the planet and then you see the election results they were terribly disappointing. given the flip. you have the far left and the radical left that will push them to do all sorts of impeachment. they will overstep every bit of the way. there is can be a clash on almost daily basis and the difference will be the

mainstream media will be on their side and you will hear a lot more about it than you did in the past. you for leadership positions. if nancy pelosi same we would not vote for nancy pelosi for speaker. that is gonna change the whole gamut there. elijah cummings he doesn't get the gavel on oversight if he doesn't run for leadership. the have of financial services is just absolutely stunning. that she is can be so impactful on wall street. housing, you look at the jurisdiction of that committee. will she try to roll tried to roll back the regulation rollback. if president trump present trump who can veto anything. rolling back of the

regulations as can be very difficult for this president. to pass legislation and actually appeal something like that. you saw a lot of the financials trade down. because of her vocal criticism. when she went out the past few months. they started to have a really tough time. it is just the speculation of maxine waters getting there. talking about it. that's why you saw the financials had such a tough quarter because think about the tailwinds they have behind them. then you also have a strengthening consumer that is great for loans.

and stocks are forward-looking. including deregulation. we want to get your take on the broader markets. the results are in. americans are waking up to the news of a divided congress. for the first time in eight years. meanwhile republicans have expanded their majority in the senate. the gop flipping several senate wins. in her victory speech last night. nancy pelosi declared the democratic win in the house a new day for america. tomorrow will be a new day in

america. remember this feeling and know the power to win. so more than anything else about what a new democratic majority will meet in the lives of hard-working americans. as jason just said this is hardly a mandate. it's a couple of seats. and it will be a jump ball. they are sitting at 219. they will pull off a few more of those undecided races. just the path. even a procedural vote. that's tough. as a solid win for the democrats. in and some of these governorships in the midwest. there were a number of them that moved to blue. that is significant as well to the democrats. they describe mister trump's closing argument looks to have

been a bust. when it comes to the house races. is really what happens in the senate. not only holding it by adding it. we went through some of them. i think we're still waiting for montana. what's important is this means judicial and political nominees get through even easier in the senate. if president trump wants it said jeff sessions packing will be easier to get him set there. the other judicial nominees. and they will be able to act as a check and balance it to the house which is something nancy pelosi talked about last night.

and then we expected this. the fact that they did gain seats in the senate as we expected the president will be able to get his confirmations through. this would change everything that number they had 51 seats. i agree with degen. dagan. the ability to confirm nominees whether their political appointees. all of those things sail through. in the house of representatives is can be tumultuous. it's good to take place next tuesday. they have already delayed that. but there can be in a bit of chaos because we have dozens of people that said i will not vote for nancy pelosi and she needs to get it to 18 on the floor of the house. she can't do it with her current democratic base. the well-known political

strategist. has an opinion piece on foxnews.com. a cataclysmic air to make nancy pelosi your next house speaker. she's raise more money and that anyone in the history of the united states congress. he basically dodged the question in terms of if he wants that seat. he said he will not vote for nancy pelosi as speaker at this point. they also commented last on the sharp contrast. they will be led with transparency and openness. so that the public can see what is happening and how it affects them. and then they can read -- away and with members of congress. we will have accountability

and we will strive for bipartisanship. with fairness on all sides. >> is there anything that you think it gets done easily here. i just laughed when she says she's get a be all about bipartisanship. those are nice words that someone wrote down on the piece of paper for her. that is not them nancy pelosi that members of congress no. being able to deal with the white house infrastructure is the easiest thing. one of the biggest problems that congress has as a is a spending in the deficit. i just think you see a lot of money being blown out the door. they were actually worried about the senate. that's where the markets are getting it right this

morning. they're not worried that the senate actually went democratic. good morning. they played a bigger role in the outcome of the elections. undeniably he is to visit so late to the game in the sunshine state. first and the senate race. one of the most expensive in history. we governor rick scott defeating bill nelson. take a listen. it will not happen in our nation and a second happen under my watch. i did not go to tallahassee eight years ago to be everybody's friend. i'm not going to dc to win a popularity contest. i'm going to dc to get something done. perhaps the biggest shocker.

the race for governor. they were having a lead over congressman ron desantis. here is now governor ron desantis. the government was energized. people get to speak. it doesn't matter what the pundits say. the people of the state of florida had the opportunity to set the agenda. and they responded to our message. not every democrat lost. they want a house seat down in the miami area. take a short break. when we come back most of the results are in. republicans lost the house but the gain ground in the senate. more on that coming up. and then oil on the brink of a bear market this morning. they are searching for direction as u.s. sanctions i ran. iran.

that story coming up ray after this. your new car? you'd be better off throwing your money right into the harbor. i'm gonna regret that. with liberty mutual new car replacement, we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty. ♪ and all through the house 'twas the night before christmas not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59. today, there are more sensors on our planet than people.

we're putting ai into everything, and everything into the cloud. it's all so... smart. but how do you work with it? ask this farmer. he's using satellite data to help increase crop yields. that's smart for the food we eat. at this port, supply chains are becoming more transparent with blockchain. that's smart for millions of shipments. in this lab, researchers are working with watson to help them find new treatments. that's smart for medicine. at this bank, the world's most encrypted mainframe is helping prevent cybercrime. that's smart for everyone. and in africa, iot sensors and the ibm cloud are protecting endangered animals. that's smart for rhinos. yeah. rhinos. because smart only really matters, when we put it to work- not just for a few of us, but for all of us. let's put smart to work.

- at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more.

>> some senate races are still too close to call. i'm to start with the one that you just saw up on that screen. arizona. destined to make history either way. two female lawmakers wanted to become the first woman senator. but the race still too close to call. they have gone home for the night. it was left open after senator jeff flake announced his retirement. they also walked the senate race. he was sinking his first nominee for veterans affairs. the democrats picked up the seat. it is the fifth state to have two female senators.

fox has not called the gubernatorial race in wisconsin yet. the state law permits recounts for permitting candidates within one percentage point. we will keep you posted on that. now let's look at georgia. another nailbiter. brian kemp has a narrow lead. a race goes an automatic run off. if either candidate receives more the 50% of the vote. a lot of races we are watching. you have it possibly going into bear market territory. one month after eight four month high on this contract. it is down down nearly 20%.

turkey's president is vowing to ignore u.s. sanctions on iranian oil. saying that turkey is not going to live an imperialist world. those were his words. we are watching oil it's been kind of a big story this week. the u.s. this year is get a pump more oil than they ever had before. it is showing how independent we are. we can't put it onto the world market. for us to be energy independent we actually do need to fix our infrastructure. that's been talked about time and time again.

do you think oil is priced right at this level? >> yes. we do have a glut of supply that is coming on and some seasonal effects that are happening over the next few months. that is the upside of down oil. will take a break will talk about the leadership changes going on not just in the democrats but the republicans as well. we are following key midterm races. dan crenshaw pulling off a big win in texas last night after being slammed on saturday night live. we are to cover that. the follow after him as unannounced their plans for an evenly split second quarter. see what happens next back in a minute. [music] show me movies a grinch would love.

[ bark ] nu uh, i'm picking the movie tonight. [ whimpers ] be sad, i enjoy it. show me grinchy movies. oh, goody. [ whimpers ] mmm, fine! show me movies max would like. see the grinch in theaters by saying... "get grinch tickets" into your xfinity x1 voice remote. [ laughing ] uh oh. something in my throat.

>> let's call the trump effect. the last-minute campaign push. with senators mark shep blackburn. and rick scott all thinking president trump during president trumpet during their victory speeches. the miracle of new orleans. is now out in paperback. people who sought 2016 and thought was a fluke. there was comeback victories. it was a stunning result.

it was a guy that was one of his biggest critics. i'm sure he's not thrilled he lost the house. but anybody said that it's a surprise has not been paying attention. with the more leeway in the senate. it's good to get the people through. we know he will have a lot of dismissals. a lot less drama. and i think there might be a window dare i say for about two months want to get something done. i know we have to worry about 2020. how may months to have to try to get something done. maybe there is something there. what if to lay the layout the middle-class tax cut. i think there might be an opportunity to lower the anxiety level of the american

people and maybe try to shake cans. and then of course we will be in election mode again. even though her tone was some sort conciliatory last night. does she even come out and actually do that. maybe there is something on immigration. she was okay with the border fence. were they upset with the caravan. democrats would not comment. american people are not happy with them storming the border. there was too many never trumper's. they should've got behind the president those who did it lost actually. that was one negative. if all they do is let me see her tax returns. and let me check on what is nadler. that is going to help him.

there is a lot with big guys we still don't know. do you see what happened with blue --dash mike bill clinton and the impeachment. who do you really hurt there. most people don't even remember that he was impeached. and in the end he ends up leaving. is she able to retain the gavel. the fight that's happening as she wakes up this morning. who's his can be in the leadership positions. i will not vote for nancy pelosi to be the speaker. and republicans have about two months or they still have the house of representatives. expect to see them accusing of being anti- woman.

you know that they're going to use the gender card in terms of nancy pelosi. there is an issue with women and republicans and suburbs if they don't do something to ameliorate that in the next half. they may be tone. if you change the tone. game on. it's also a message to donald trump for modern republicans especially women. in terms of women. if you look at brett kavanaugh joe donnelly didn't. the cavanaugh hearings. and the complete abuse of brett cavanagh and the entire process. it did really help. i have not seen the news about two women having lied

completely made it up. you're just not seen that story anywhere. it's outrageous that the second woman cames up i have a problem i was with her. she have a swimsuit on. that was in the grassley report. even the dr. ford story shows that it might be there. she was able to raise over a million dollars for the legal service. this wasn't necessarily a situation that was to the benefit of transparency they almost are in this guys life and it was a lie.

they have made the referral to the department of justice. whether or not they get prosecuted. and you are looking at an attorney general who is on his way out now. you're not just cannot make stuff up. how close was texas. he won his seat remember he was mocked. for his war injury on saturday night live. i think marginally. he is in more than he should've been. i think we went over across the red line. i worry about the next guy are the next woman that was working their way through walter word read.

this is my words not his. i'm wondering how people are point of going to view me. my hope is to repel it has been so great that they realize that the third rail that's always good to be electrified. we are sarcastic but were funny. this was an attack in there was no humor there. they have no idea how to handle it. they said it was improvised. they need to take a field trip back to arlington and maybe walter reed and donate your time and you will grow a soul over at these things. speaking of texas. all the money that he put into that campaign fell flat.

willie nelson took beyoncé and $70 million. it doesn't get you elected in texas. brian, great to see you. stay around. ted cruz cruises to victory. we will have that with the very latest next.

at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. >> welcome back good wednesday morning everyone. thank you for joining us. the day after a divided congress at this morning with most of the votes now in the democrats have taken the house of representatives with 219 states that as a majority. and in the senate they maintain their majority with 52 seats this morning. we will break down all of the thoughts this morning. futures are rallying today expecting up 200 points at the start of trading this morning.

it's up about 1% and the nasdaq. better than 1%. ninety points higher on nasdaq. they finished higher as well. it was up 173 points. two thirds of 1%. it was also a two thirds of 1%. in europe this morning. here is the breakdown. major indices are higher across the board. the dax index up better than 1%. asian markets and did mostly higher overnight. it was down one quarter of 1%. our top story right now. the results are in. democrats taken house and republicans keeping the senate. one of the closest what cases was texas. it was a hard-fought battle against democrat the democratic strategist howard franklin.

howard, let me take it to you. what's your take this morning. i think democrats in texas have a lot to be thankful for. two seats in congress. two seats in the senate. in the closest margins we've seen in a generation. obviously there hard-fought races. and a really expensive context. there is a lot to be excited about. even if we didn't get the senate seat. look how close this texas race was. this should not had been so close. should republicans be concerned that this is so close. i think it's a wake-up call for republicans. it's a great victory. but with to broaden our base. where we should be winning we are not winning like we should be. i think the demographics have changed. there is a broader base within the party. both minority and also age.

engender. we need more women and more young people. everybody wants to expand the base. it's really a salient one. those that got close to the president and took on his policies and principles did really well. they suffered at the consequence at the pole. i think if you're a democrat it's a very depressing night because they can't believe that people actually supported and got behind the president especially in florida. it was a huge victory for republicans. it says the and states that we were not contesting two or four years prior closer than we've ever been.

and the push with this race which was in one percentage point. plenty of silver linings. all across the ballot up and down. we would have preferred to pick up some governor seats here in florida. can you say looking at the loss in texas that finally celebrity endorsements do not work. every celebrity. he did lose. i don't think politics will ever get to the place where it's i doubt very seriously that we will see celebrity

endorsements going anywhere anytime soon. it's not what is getting get you over the hump. from the very beginning. the kind of candidate who could get himself over that. and maybe see him in the ballot on 2020. here is some of the response. now he can run for president. on the democratic ticket. but not in office. he was can announce has presidential run during his victory speech last name. i am not going to make fun of an individual who has been a mayor of a relatively small

city running for higher office. people mocked sarah palin and people made fun of her he has a future. for coming out of nowhere. they're going to a major transitional shift. any race where it was a factor and pushed it over the line. you didn't see bill clinton. in nancy pelosi is acting to be the speaker of the house when you have more than 50 democrats in their parties saying were not going to vote for it. i think they have to go to a new generation.

is there anything that happened significant in the lame duck session. we know we have a turnover and government in january. why would we waste the time having a majority if we don't use that power. the fight of her life. we can strike while the iron is hot. why when they go. but the feet to the fire. if they were true. that she's willing to work now with the president that could be a great test. it's gonna be the most aggressive push. only four people in the country that can get a tax

return. the president himself they still have to report the gained seats in the senate. they're going with the first number one job. we will see where that goes. thank you for joining us gentlemen. a special coverage of the 2018 election continues this morning. why cities are left in a bind. back in a moment.

welcome back. republicans took three senate seats away from the democrats. republican state lawmaker will be the next senator from indiana. after defeating democratic incumbent. i want to thank all hoosiers for giving me a resounding victory and putting your faith in me. i will not let you down. i promise that. we've a rare opportunity to really make things happen in dc. i can't wait to be a part of it. they are losing their seat to the state attorney general. from a state president. donald trump have visited

twice in the week before election day to boost the young challenger. she won't go away quietly. i really had to be kind of careful. not anymore. i'm not going away. in north dakota democratic senator heidi high camp lost their reelection bid. creamer headed it against them. the federal aviation officials were set to issue a safety warning to pilots. the bullet will talk about a

potential software problem. the shares of boeing had rallied more than 20% so far this year. they could put some cities in a bind. i'm city officials are upset after offering him a son incentive plans that would accommodate 50,000 employees. amazon was in talks. in dallas crystal city. just across the river. shares of amazon trading is slightly higher in the free market. however those liberal amazon employees cannot like that.

coming up midterms and markets. what a blue house means for market and your money. - at athene, we think it's time for the financial world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. so, they say that ai is the building block of the future. super. but today you're building wind turbines. morning sir. chief, the blade isn't passing quality gate. that's why you work with watson. i detect frictional loss on the midspan. it can detect the tiniest defects from just a few images to help production stay on time and on budget. i optimized the fiberglass finish to reduce frictional loss and maximize airflow. i was also part of the maximizing. for ai that can do more with your data, choose watson.

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

welcome back markets are rallying this morning on the heels of the midterm election. we are taking we're taking a look at gains across the board. joining us right now is b riley. great to see you also. connect the dots for us. what are the midterm election results in your view. very much like consent.

over the last couple of years they have not done a very good job of predicting results. we did a much better job in the midterms here. now we move forward. congress is can struggle to find bipartisan issues that they can work on together. except for the fact that it's expensive. at a time where government is looking to make budget cuts. as long as we had been talking about a jet pack to get to work. the voter turnout was

spectacular. do you think it will be gridlock for two years and is that good for markets? >> if we were to say we are going to go forward. and there for monetary policy can probably be a positive. >> art it's kevin kelly here. it's a digestible gridlock. and because you didn't see that. then we would have got a fury of gridlock.

can financials finally resume with can financials finally eocene financials be dead money for the last quarter. i think that's very important. it probably doesn't go away in a new congress. that gets things back to work. the big issue here. is what do we do about trade. if we have some insight of where trade was heading. i certainly think getting trade behind us would be what we need to move forward. are there any news out of

this. would love to hear them say we are working with things like this. good to see you this morning. still to come to house goes blue. more on that. democrats now. with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. . . not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59.

the full value of your new car? you'd be better off throwing your money right into the harbor. i'm gonna regret that. with liberty mutual new car replacement, we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty. ♪ more maria welcome back, good wednesday morning, thank you so much for joining, it is wednesday november 7r 7th,

america has spoken, split decision, control of house of representatives flip to go democrats securing 216 majority on senate side republicans keep control of the senate and add seats, the gop flipping four seats so far and three races are still left to be called this morning. arizona, nevada and montana. we are on all key races and what it means to trump administration and booming economy, what happens to policy now, markets are rallying, expected to be up 180 points, three quarters of 1% higher, s&p is up almost 1% and nasdaq is up 1 and a quarter percent. 85 points higher on nasdaq, this after markets closed near high yesterday, in europe this morning money moving to stock as well. cac quarante in paris up 1 and a half percent. in asia overnight, markets finished mostly higher with the exception of,