♪ this is "nightly business report" with tyler mathisen and sue herera. ♪ economic challenges. there are a lot of them. and no matter who wins the white house, the next president will have a long list of things to do. blue collar blues. why many in the heartland are thinking about jobs when they head to the polls. america's bull horn. social media played a big role during the presidential campaign. and it's pulling out all the stops to get people's attention today. those stories and more tonight on "nightly business report" for tuesday, november 8th. good evening, everyone. i'm sue herera. tyler mathisen is on assignment tonight. election day is here. finally. and today stocks climbed e extending the rally from yesterday, which saw the biggest gains in eight months.

it wasn't just stocks, bond yields also rose as did the price of oil. and the mexican peso, seen as sensitive to the election outcome. it strengthened against the dollar. americans went to polls to vote for the next of the united states in what has been a contentious campaign season. hillary clinton cast her vote this morning in chappaqua, new york. donald trump in new york city. and by the close, wall street, dow jones industrial average gained 73 points to 18,332. the nasdaq added 27, and the s&p 500 rose 8. no matter who wins the white house, the next president faces a number of economic challenges, including slow growth, rising income inequality, jobs moving overseas and a growing deficit. andrew friedman, principle at the washington update joins us to talk about that. good to see you, andrew. welcome. >> nice to see you, sue. >> let's start first of all, we go with each candidate

individually. let's start with mrs. clinton. she may be working with a difficult or recalcitrant congress. what do you think she will be able to get done? >> you're right. at a minimum, she's facing a house that is republican and as you say, recalcitrant. they're not going to want to necessarily implement her programs. and that makes it harder, because a lot of her programs for the economy, additional social spending and things like that, won't happen. but i think there are three areas where we might see some progress. one is an infrastructure program, providing jobs to try to repair the nation's infrastructure. the second is perhaps repatriation of overseas earnings from multinational companies. as you know, we have $2 trillion of earnings overseas that can't be brought back without a 35% tax. and is some idea, maybe we can lower that tax rate and get that money back. i think those are two areas. the third is trade.

while the tpp, the transpacific partnership, is probably dead, i do think the house leadership is pro trade, as is clinton. so i think that might be an area of agreement. >> where will she not be able to make progress? i know she's calling for a higher minimum wage. student loan relief and a number of other issues that congress, at least publicly, has kind of pushed back on. >> yes. those are perfect examples. congress is concerned about the deficit. at least the republicans are. and her programs cost a lot of money. government-sponsored education, government-sponsored child care, student loan relief, higher minimum wage. i think those will run into headwinds in the house and won't happen. >> let's move to mr. trump. defense spending has been on the list. tax cuts have been on the list, and he'll be dealing with, we presume, a much more agreeable and favorable congressional structure. >> exactly. i assume that what the senate will go the way of the white house.

so trump would be facing a republican congress, which would be only too happy to cut taxes and increase spending on defense. so i think that is one thing that could initially perhaps help the economy. what would hurt the economy are hiv his trade proposals. he has an american first proposal, he wants to impose a high tariff on exporting goods. our trading partners will retaliate. and that means exports will plunge from the u.s. and consumer prices will rise, because we don't have foreign competition. i think the other concern about a trump presidency, and this happens with the clinton presidency, too. is they're not addressing the final economic point you raise, which is the deficit. under either president, the deficit goes up. under trump, i think it explodes. and you end up with so much debt, you have to wonder if we don't see a recurrence of some of the debt problems we saw a number of years ago. >> if mr. trump wins, he has

more favorable congressional structure. but if mrs. clinton wins, how does she then get anything done? >> well, if she can't get things through congress, and i don't think she will, by and large, then she's going to resort to the use of executive order, and regulation. the same way president obama has. and then you'll see, i think, her picking and choosing various sectors that could have trouble, financial services with more enforcement and an expansion of dodd/frank. pharmaceutical companies, because she wants to go after drug prices. fossil fuel. she doesn't want to have drilling on federal lands. so there, i think it's kind of a picking and choosing of industries that she wants to unilaterally change. >> and drew, always a pleasure. thank you very much for joining us tonight. >> thank you, i appreciate it. >> andrew friedman. economic and money issues top of mind as americans across the country cast their vote. tonight our reporters are covering the topics important to you, your money and business.

from the gaming industry in nevada to arizona's propositions, the influential millennial vote in colorado, and manufacturing jobs in indiana. but we beginiana olick who spoke to retirees about retirements in delray beach, florida. ♪ politics and pickle ball don't mix. at least not at the kings point retirement community in delray beach. >> there's been a lot of political discussions on the bench as we wait to come in the game. once you're on the court, all bets off. >> three of this mixed doubles group are clinton supporters. one is for trump. >> i think he addressed theish ice that are important to me. >> but the issues are more varied in this community than you might expect. >> well i goggled how they stand on all of the important issues to me and health care was certainly one of the issues. women's rights certainly one of the issues. >> out on the golf course, judy

herman and fellow player, evelyn workman told us it was very hard to get past the nastiness to find the issues. >> i had to consider the personality and the things that had been on the air about donald trump and the things he had said. i voted for the lesser of the evils, basically. i did not care for hillary. i think she has a lot of baggage also. but i felt i had to vote for her. >> when specifically asked about issues usually important to seniors, she did express concern. >> i'm 73, and i think that a lot of people my age who are still active adults going out and doing things all day still depend on some of those programs. medicare is a big program. >> judy's husband, a veteran, who worked for the army for 35 years, was equally concerned for the future of his seven grandchildren, but also worried about america's place in a changing world economy. >> russia seems to be doing what it feels like. china is moving into a whole new

mode. we don't have any really naval presence in the china sea. so we're losing respect all over the world. >> the one issue that came up over and over among seniors here was honesty. the hope being that honesty in the white house is not too old fashioned. for "nightly business report," i'm diana olick in delray beach, florida. next we head to terre haute, indiana, and phil lebeau. >> the line in terra hoet, indiana, wound its way through two aisles to cast a ballot. >> i voted for trump. because the thought of having him president is less scary than having hillary as president. >> i voted for hillary clinton, because i just don't think donald trump is ready to be in office yet as president. just don't think -- i know she's kind of crooked, but my best

choice right there. >> for most of the people here in tarater host, their number one concern is picking a president who will get the economy growing at a faster clip, because in this area, there's a sense that terre haute is not seeing the benefits when it comes to the economy. >> everybody wants prosperity. and so when they're going to vote, i think that's what they're voting for. they want something dramatic to happen that's going to change so they can have some prosperity. >> terre haute, like many smaller cities, has the blue collar blues. job growth has plateaued in recurrent years. at the same time, the average weekly income for the county trails the rest of the state and is well below the national average. trends many here believe donald trump can reverse with his plans to change america's trade agreements. if trump wins this county, it raises the question of whether he wins the presidency.

that's because this county has been carried by the eventual winner of the national election, all but two times since 1888. but some wonder if that trend ends this year. >> the bellwether hypothesis correctly identifying the presidential election victor every year will fail this year, as trump will probably win the county and hillary clinton will probably win the national race. >> whoever wins, terre haute is hoping they bring a boost to an economy trying to catch up with the rest of the country. phil lebeau, "nightly business report," terre haute, indiana. kayla tausche in boulder, colorado. >> in battleground colorado, more than two-thirds of ballots are cast by >> i voted in my room. mail order ballot. so i just filled it all out and dropped it off. >> some 2.2 million votes counted as of election day. the two candidates taking

decidedly different approaches here. trump on offense. >> by the way, we're doing extremely well. you do know. >> visiting the state personally 13 times this fall. clinton playing defense. relying on ad spending by super pacs and high-profile surrogates in the home stretch. >> you live in a state that is right on the edge. the election is going to be decided by the turnout tomorrow. by the margin here in boulder. by the number of you who agree to go out and convince others to go to the polls. >> turnout by millennials, especially hispanic millennials, will be closely watched. >> i think that we make up the biggest voting block now as millennials and i think that will be the legacy of this election is that millennials' voices were heard. and we decided the path that we wanted this country to go in. >> in both colorado and the rest of the country, millennials are now a third of eligible voter on

par with baby boomers. yet half don't affiliate with a political party. >> it looks like those who are not that happy with trump or clinton are easily attracted, i think, by johnson and stein, and so we see probably in colorado, those numbers will be a little bit higher than what you see in other states. >> take college republican vice president justine sanders. >> i voted for evan mcmullin. personally, i think he represented conservative values. >> no republican has won the white house without the centennial state since 1908. this year, a new generation could decide that outcome. for "nightly business report," i'm kayla tausche, boulder, colorado. contessa brewer in phoenix is looking at the state's key propositions. >> arizonans head to the polls today to elect a president to decide whether to reelect senator john mccain and to choose whether adults should be

able to buy and use pot legally. at dispensaries like this one in tucson, people can purchase medical marijuana, but proposition 205 would regulate marijuana like alcohol, and it would levy a 15% tax on the purchase with the proceeds going to schools and public health. but opponents are not convinced. >> one of the issues they're trying to play up is, you know, this could harm the public. this could lead to harder drug use. this could not stop the underground market, and, in fact, could make the underground market more dangerous. >> last year, the border patrol seized 800,000 pounds of marijuana in arizona, but doesn't see prop 205 changing much for the drug cartels because they focus on moving heroin and meth across the border. the arizona republic shows 50% support for legalizing use. 8% undecided. >> both sides say it could be days until we know the outcome

of this race. >> another proposition on the arizona ballot would guarantee sick time and raise the minimum wage from 8:05 an hour to $10. increasing to $12 an hour by 2020. >> i think we should raise the minimum wage. people need to be hard-working and paid more money. >> the arizona chamber of commerce launched a campaign called protect arizona jobs. polls show 56% of arizonans support raising the minimum wage. for "nightly business report," contessa brewer, phoenix, arizona. and to las vegas, where jane wells is talking to casinos' ceos. no city in america may be more susceptible than laegs. when people feel good, they visit. when they feel bad, they don't. and while you cannot bet on the presidential election, vegas ceos are weighing their white house odds. >> i hope after tomorrow we will not have to talk about donald

trump. >> he's a negotiator, best i've ever seen. >> rarely has there been so much distention among the executives h who rule the strip. the head of mgm resorts is a life-long republican who is backing hillary clinton. >> donald trump has alienatesed every partner we have. secretary clinton will work with our trading partners. >> hello. >> phil ruffin is a partner in trump's las vegas hotel. >> when he says he can bring back jobs, jane, you're talking about if he lowers the tax, the 15% on corporations, they won't leave. >> but the biggest spender is sheldon adelson. he also happens to be the richest man in las vegas with an estimated net worth of $32 billion. adelson and his wife have reportedly put up $35 million for anti clinton super pacs, but not directly in support of donald trump.

though the vegas newspaper. >> i am befuddled. >> the lone democrat in the group though railed against the obama administration. >> donald calls and asks what i think. very often i'll answer him. but donald trump is his own adviser. >> winn wouldn't guess who will win the white house, and as for his own desires, he is the one ceo in las vegas playing his cards close to the vest. for "nightly business report," jane wells, las vegas. still ahead, pharmacy fight. cvs warns it's feeling the heat of increased competition and its stock tumbles. ♪

some positive news on the labor market. the rate of layoffs in the country fell to a record low. as the number of job openings rise. according to the labor department, there were nearly 5.5 million job openings in september, a sign that companies are willing to hire, despite a slow-growing economy. and about 3 million people quit their jobs, another positive sign. workers tend to quit only when they bet a better offer or think they can find a better job. as americans head to the polls, one federal reserve official is urging lawmakers to approve investment projects. chicago fed president, charles evans, said with interest rates low, investments in things like infrastructure could increase productivity. when it comes to the economy, evans added that he's concerned about inflation, while he is comfortable with hiking interest rates in december and any hike thereafter should be very gradual. the competition to fill your

prescriptions is heating up. and that's hurting cvs health, which today said prescription growth is slowing, and its profits will be hurt next year. shares of the biggest u.s. drugstore chain tumbled more than 11% in today's trading session. bertha coombs has more on cvss challenges. >> cvs had an advantage over competitors. it handled pharmacy benefits for large employees and insurers and also profited from its retail pharmacies filling prescriptions. with concerns over high drug costs, competition in the drug supply chain is getting tougher, says analyst ross muken. >> it is causing a fight for share harming profits here. >> analysts at partners say competitors are giving cvs with restrictive pharmacy prescription networks. one with the defense

department's health plan where it will be the preferred retail pharmacy, leaving cvs out of network. larry murlo said it will be a drop in volumes next year. >> it will result in more than 40 million retail prescriptions, shifting out of our stores on an annualized basis. >> the competition was then the drug supply chain heated up as consumers and employers are feeling the pain. drug wholesalers are hitting prices. pbms doing the same with profit margins shrinking. the question is, for how long. >> you can't, you know, give up so much price that it's -- you can't earn a return, because then you can't continue to offer the consumer what they need for their daily needs. >> cvs says it will unveil the steps it's taking to deal with the loss of the major contracts next month. but after lowering its earnings outlook for 2017, cvs shares

closed at a two-year low. bertha coombs, "nightly business report," report. valiant's new math warns its outlook is not very good and that is where we begin tonight's market focus. the drug maker cut its full-year profit and sales guidance amid an increase in generic competition. the company's finance chief says there could still be more surprises as the company struggles to get back on track following a drug pricing and accounting scandal. the shares today were punished. they fell basically more than 21% to finish at 14.98. pharmaceutical company endo is facing increased competition in its generic drug business and the ceo said the trends are likely to continue. the warning overshadowed the better than expected results. shares fell 7.5% to 14.51. a steel maker turned a profit with results being helped by higher iron ore prices and

demand from the auto sector. profitability will lag in the current quarter as well as of higher coal prices, one of the ingredients needed to make steel. shares fell 6%. investors had their first channels to react to hertz's global disappointing results. the car company cut its outlook for the year, citing higher costs and lower rental volume. shares plunged to $27.70. and online home goods retailer, way fair saw its sales surge past expectations as an uptick in customers. it posted a smaller than expected loss and gave down beat sales guidance. shares off 4% to $32.26. throughout the political season, social media has proven a support group and a bull horn for americans. and in the final days of the election, social platforms like facebook, snapchat and twitter

pulled out ought owl the stops. julia boorstin has more than on the election strategy. >> the social water cooler provided a respite a source of information and a place for debate. and on election day, facebook, snapchat and twitter are pulling out all the stops to be a destination for conversation and advertising. >> during the primaries in september, we also added a register vote link. we estimate helped more than 2 million people register to vote. some who are registering for the first time. facebook really is the new town hall and we're proud of the role we played in enabling dialogue in increasing civic engagement. >> facebook offering a range of tools, voting requirements, candidates and issues, plus a prompt to invite friends to vote. facebook's targeting capabilities are an advantage. the company seeing a surge in political ad dollars, particularly in competitive markets will tv inventory is

scarce. snapchat is also embracing the election with go vote bit emojis to remind people to vote and live stories featuring election results, speeches and analysis. snapchat is also rolling out a range of political ads including this one for clinton yesterday. and today trump is running this filter. down ballot candidates are also running snapchat ads. and twitter featuring a reminder to vote in enabling users to sign up for messengers. reporting a large uptib in ad spending focused on key swing states. over 1 billion tweets have been sent about the election since last year. twitter saying this participation benefits the democratic process. the conversation also benefits twitter and the other social plalt forms as they compete for users as well as ad dollars, the attention brings. for "nightly business report,"

i'm julia boorstin in los angeles. coming up, in their own words. small businesses are the backbone of the american economy. tonight, they share their thoughts on this election. ♪ the presidential election drove uncertainty among small business owners to a 42-year high. while uncertainty may be growing, so is their optimism. according to the latest report from the national federation of independent business, optimism reached its best level of the year. it's the small u.s. businesses create the most american jobs and account for just about half of economic output. and a number of small business owners shared with our

cameras their thoughts on the election and each of the candidates. >> i have made up my mind and i plan on supporting donald trump. having the business background i think is something i view as important right now. i think the politicians have been there long enough. when you're in business, you have to make the payroll. you have to pay your bills and you have to have a good relationship with your bank. in this case, the american taxpayers have become the bank. >> i will be voting for hillary clinton. i think she has proven over the years she has the stature and the willingness to work across the aisle to get thing done. i am actually very scared by the potential presidency of donald trump. >> the libertarian platform appeals to me. it is less government is better government. after the last ten years of seeing how much government has grown, i could not agree with that concept more. i will be voting for donald trump. not only the business acumen. i think he has an understanding

of what impacts business and hopefully providing some relief in the tax cold and regulatory space i think will do business owners here in colorado better than the plans put forth by hillary clinton. >> here's another look at how the major averages closed on this election day before we go. the dow gained 73 points. the nasdaq added 27 and the s&p 500 rose 8. and that will do it for "nightly business report" for tonight. i'm sue herera. thanks for joining me. have a great evening. we'll see you tomorrow.

caroline that was the most selfish, mindless piece of driving i have ever witnessed. gillian if you keep your hair on i will be less than sixty seconds. caroline idiot gillian snotty bitch caroline some brain dead, low life, trailer trash stole my parking space. alan and you've met my daughter? caroline sorry? celia now then we have got some news for you. celia & alan we're getting married you're very pretty. you're magnificent [indistinct shouting] caroline this marriage is over. it is dead, it is redundant. it never was! john we made love. gillian it was my birthday. we were both a bit pissed raff he's in hospital. he were rushed in last night, he had a heart attack. alan did i come to see you last night? celia alan? alan were i dreaming? yes, you did. you came to see me.