Bloomberg Daybreak: November 8, 2022 - Hour 2 (Radio)

the attack on her husband. Plus a technical issue has to lay the powerball drawing. I'm Michael Blar More Ahead, I'm John stash Our Sports the Ravens beat the Saints, the Nets loss, wins for the Knicks, Islanders, and st John. That's all straight ahead on Bloomberg day Break on Bloomberg Living three on New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine six, Francisco, Sirius x M one nineteen and around the world on

Bloomberg Radio. Come and via the Bloomberg Business at Good Morning. I'm Nathan Hagar and I'm Karen Moscow US Dot Index futures have been shrimming their gains this morning. They're now a little change that We're coming up to six o one on Wall Street, and we check the markets every fifteen minutes throughout the trading day on Bloomberg Guess and P Futures little change so er Down futures and Nasdack

futures are up about twenty three. The decks in Germany is up to tens of upper cent ten year treasury up to thirty seconds yield four point to zero percent, and the yield on the two year four point seven one percent, and nine max scrude oil is down one point three percent. Nathan Karen, We'll have more on the markets in a minute, but first it is election day. Polls are beginning to open across the country. With control of the Senate hanging in the balance, there are tight

races shaping up in at least three states. Amy Morris has the latest from our Bloomberg newsroom in Washington. In Pennsylvania, the Senate race between Democrat John Fetterman and Republican Memo Oz is neck and that I will bring change to Washington so they treat us the way we deserve and I'm gonna need every one of you to go out, get your friends, get your families all ready to vote. And Georgia, a record two and a half billion votes

are already cast. Republican challenger Herschel Walker in a dead heat with incumbent Democratic Senator Raphael Warnut. I'll show up for you for six more years. You got a voteus something new in this stought November. If no candidate gets more than fifty of the vote, it could head to her run off in December. Be ready for days of

counting ballots. In Arizona, where a race four senator between incumbent Democrat Mark Kelly and Republican Blake Masters, and the goober notatorial contest between Republican Kerry Lake and Democrat Katie Hobbs are so tight posters expect those results to come down to just a few thousand votes. In Washington, I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you well. There are several key races for governor across the country, including a closely watched one in New York, and bloomberg

S Michael bar joins US Live with the latest on that. Michael, thank you very much. Karen. The race for governor was once insidered an easy win for incumbent Democratic Governor Kathy Hokel. However, Republican Lees held and made up ground in the polls to make it a tight race. Both candidates made their final push to voters. Governor Hocle campaigned in Manhattan. I always run like I'm the underdogs work harder. Pcl also

campaigned last nine in her hometown of Buffalo. Both candidates need votes not just from Independence or Republicans, but Democrats as well, something Zelden notes it wasn't until New Yorkers united in the early nineties that they decided that they were going to take back our streets. Zelden campaigned at the scene of a subway stabbing in New York City

and is pushed to fight crime in New York. Michael Barr, Bloomberg Radio, Nathan Karen Okay, Michael, thanks, voters are also wearhing at least sixty six billion dollars of state on local bond measures today to finance projects like new schools and climate resiliency efforts. We get that story from Bloomberg's Charlie Pellett. The proposed borrowing is more than double the twenty seven billion dollars on ballots of this time last year, and among the highest volume of bonds up for a

vote since at least two thousand nine. This according to a Bloomberg analysis of a preliminary tally of bond measures compiled by I H S Market. The increase comes of states and cities have been collecting better than expected revenue in the last fiscal year, shoring up the budgets after a period of financial uncertainty at the onset of the coronavirus pandemic in New York. Charlie Pellett Bloomberg day Break, Charlie,

thank you. While Americans hand to the polls, Donald Trump is ramping up hands that he'll run for the White House in the former president all but confirmed the move at a rally last night in Dayton, Ohio. I'm going to be making a very big announcement on Tuesday, November fifty at bar Lago in pop Beach, Florida. Former President Trump has been teasing your run for months. Advisors have long urged him to hold off on an announcement until after the mid terms. Let's get some news outside of

today's elections, Karen. Beginning in Europe, as the war between Russia and Ukraine rages on. Sanctions continue to pile up on Moscow. But now Bloomberg News has learned the White House once banks like JP Morgan and City Group to keep doing business with some strategic Russian firms. We're told it's part of a behind the scenes effort to limit the adverse impact of Russian sanctions on the global economy.

Even as some in Congress pound the table for stronger steps on Wall Street, songs have rallied for two straight days Nathan Ahead of the midterms, Morgan Stanley's Mike Wilson says polls that show Republicans claiming at least one member of Congress could provide a catalyst for equities. We're getting

close to the end of the bear market. We're not there yet, but you know what you want to what you want to try and figure out is what outperforms in the last leg down, because I will tell you what's going to outperform in the next leg up eventually when we get there, and that's been industrial financials and some of the commodity complex. Morgan Stanley's Mike Wilson says companies will need to bring down expenses before he becomes

more optimistic on equities. Another key event for markets comes Thursday, Karen, when we get a reading on consumer prices. Richmond FED President Thomas Barkin says the Central Bank will persist in efforts to bring inflation under control. Inflation should come down, but don't expect it's drop to be immediate or predictable. We've been through multiple shocks, as I discussed, and significant

shocks simply take time to dampen. Richmond FED President Thomas Barkin says one key lesson from inflation in the seventies is not to declare victory premature ly. Well, we now turn our attention to the big climate change summit in Egypt, Nathan.

The World Bank has announced a climate Trust fund for poorer countries, and we come up with President of the World Bank David Malpass, the warrant u PRAM, but also the giant amounts of government spending that we're done on covid UH and so that that is putting upward pressure on prices around the world, and that hits the poorest

the hardest. And World Bank President David Malpass spoke with Bloomberg at the COP twenty seven summit in Egypt cat More of that catch more of that conversation coming up later in our agram. We're also watching earnings this morning, hearing from DuPont had reported a third quarter profit bad beat analysts estimates and again futures this morning they are high er s and p future is now up about four points. And as straight ahead, we have your latest

local headlines, plus a check of sports. And this is Bloomberg. Thanks caring at six oh seven on Wall Street, now forty seven degrees in Central Park out of crash northbound Cross Island Parkway at Belle Boulevard. Details coming up in traffic. First, Michael Barr's back with what else is happening in New York and around the world. Michael, thank you very much. Nathan. There are other races being watched in the Tri state

area as well. In Connecticut, Democratic Governor Not Lamont is up against Republican challenger Robert Stefanowski, and Lamont spoke earlier with Bloomberg about his state. I think the economy front and center. Uh. Here in Connecticut, we've been flat as a pancake for thirty years. We hadn't added a new job in thirty years. Uh, And we were going from physical crisis to fiscal crisis. It was a pretty lousy story, and the last you know, four or five years were

beginning to turn things around. In the U S. Senate, Democrat Richard Bloomenthal is up against Republican Theora Leaving how Speaker Nancy Pelosi said the attack on her husband Paul would be a factor in deciding her political future and expressed dismay that Donald Trump and others, including Elon Musk, had cast doubt on the attack. Pelosi told CNN last night, you see what the reaction is on the other side to this, to make a joke of it, and really

that is traumatizing to US. Supreme Court justices have signaled they may open new avenues that could weaken the clout of the Securities and Exchange Commission and Federal Trade Commission. Bloomberg said Baxter as the story. The justices are considering cases regarding claims going directly to federal court. The two regulatory agencies have been very busy. The SEC file more than seven hundred and four reisment actions in the flash fiscal year and one judgments and orders worth six point

four billion dollars. The FTC is seeking to break up meta platforms and investigating Amazon, among other initiatives, returned two point four billion of consumers last year. It is a conservative court and it could decide the question of the value of regulation visa v. More free commerce. In San Francisco, I'm at Baxter Bloomberg Gay Break. The Powerball lottery jackpot is one point nine billion dollars. That's a lot of zeros on there. You can't win if you don't play well,

you definitely can't win. Then on draw the numbers either. The Multi State Lottery Association says that the powerball drawing was delayed last night and we won't know the official results until later. The record breaking drawing was delayed because of participating lottery had issues processing sales. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than seven hundred journalists and analysts more

than a hundred twenty countries. Michael bar this is Bloomberg Bottle Volatility. Thank you, Michael. Almost six ten on Wall Street Time for the Bloomberg Sports that they brought to you by Tri State out He with John Stag shows All righty Bean, Busy night at basketball, Open to night in the College GAI. The entire preseason top twenty five played and they all won, including Duke new coach John

shire Villa and open for new coach Kyle Neptune. They replaced for the Hall of Fame coaches Mike Schefski and Jay Right. St John's won it's opener by twenty five over Mary Mac also fifteen NBA games with a message, and all of them to remind fans to vote. That's why the NBA will not play any games tonight. Nixon Minnesota scored seventy six points in the first half went on to win one one oh seven thirty one point

for Julius Randolly made eight three pointers. The Nets lost in Dallas nineties four Luke Donson's thirty six points of the mass kebin A Rand twenty six for Broken Milwaukee lost for the first time Cleveland for just a second time. The Lakers lost by twenty three at Utah. The Lakers are two and a. The Jazz traded their two best players in the off season, yet they are a surprising nine and three. Islanders made it five the last six. They meet Calgary for three and overtime Monday Night football.

Ravens and Saints Daxus and chief of eights, telling right, look at the town now he loved to touch to kennet Ella marlton I j unlikely just behind the secondary. The Ravens tried first in New Orleans. The a L had the call. Baltimore went on to win twenty seven to thirteen at six and three, first place in the a f C North. The Colts have only three wins. They just fired coach Frank Wright replaced him on an interm basis with former Indianapolis lineman Jeff Saturday, who has

no previous NFL coaching experience. Giant safety's Avian McKenney spent his bye week in Cabo and heard his hand in an a TV accident. He's one of the better defensive players. He's gonna miss at least a month. John Scash at Bloomberg Sports, Nathan all Right, John thank U s ANDP futures up five points South, futures of forty eight, NASTAC futures up forty points up. Next, we hear from World Bank President David Ball pass from the COP twenty seven

summit in Charmel Shake, Egypt. This is Bloomberg Bloomberg Sports was brought to you by Autie. You don't let someone else drive off in the outie model. You've always wanted to visit your local price state Autie dealer to get behind the wheel of yours today, or visit Autie Offers dot com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot com. The Bloomberg Business at and at Bloomberg Quick Tape is a

Bloomberg Business Flash and I'm Karen Moscow. You US dock index futures on the rise this morning as investors await the outcome of the midterm elections. Treasuries UH they raised losses ahead of Thursday's inflation report, and we checked the markets every fifteen minutes throughout the trading day on Bloomberg U S and P futures at five points down features of forty seven, nastag features up forty The decks in Germany's epic quarter percent ten your treasury a three thirty

seconds he had four point to zero percent. They yield them a two year four point seven one percent. Nine X freude oil is down one point four percent on a dollar thirty three and ninety dollars forty six cents of errol Comex school down four ten percent or six dollars forty cents at sixteen seventy four ten announced. The euro is at one point zero zero zero one against

the dollar. British found one point six one and again one six point three to biggoin this morning is down four point six percent at nineteen thousand, seven hundred dollars. That's a Bloomberg business flash. Now here's Michael Barr with Moore ONUN What's going on around the world. Michael, thank you very much. Karen. It is election day. The nation has its high on several key races that could change the balance. In Washington, thirty five Senate seats are on

the ballot. Former President Trump, speaking in Dayton, Ohile, says he will make a big announcement on November fifteen, That is Mara Lago Estate. Trump had been teasing for months he'd run again. Meanwhile, President Biden traveled campaign in Maryland. Biden acknowledged Democrats face a tougher challenge holding the House than the Senate. In the NBA the next one, the Nets lost the Celtics, Wizards and Warriors all one. In the NHL, the Islanders won in ot against Flames for

three the Bruins and Capitals. Also one Monday Night Football. The Ravens beat the global news twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven journalists and antalist more than a hundred twenty countries. Michael Barn this is Bloomberg, Nathan. Thank you Michael. It is six nineteen on Wall Street Live from the Bloomberg Interacted Broker Studios. This is a Bloomberg day Break on this election day. We're also keeping an eye on

United Nations climate talks in Egypt. The World Bank is warning about food shortages and inflation hitting the poorest, as COVID spending and the energy crisis create real problems for the developing world. At COP twenty seven in Charmel Shank the World Bank announced a Climate Trust fund for poorer countries. Earlier, Bloombergs ferencing lackwalk hot up with World Bank President Dave mall Pass and he says more investment will be needed

to tackle climate change. Of course, more resources are really important, both for the climate crisis but also for the financial crisis affecting the developing countries. I really think we are facing a crisis in development, and that means the reversals on education, that means the higher interest rates, the inflation, the shortages of fertilizer, which are really daunting for the developing world. So those are all problems that take resources.

So it's uh, it's it's a giant part of the way the world needs to think about the relationship with developing countries, and that's occurring here at this conference as well. So it is the climate change, you know, Lens the best way to look at it. You're right, we also have inflation, we have a cost of living crisis, we have people being left out of the financial system. How should climate change be a priorities a top three or top five from the standpoint of the developing countries, they're

failing all of them together. So it's a matter of how do you finance the adaptation needs? How do you finance education and child nutrition? Uh? And so I I think of it as a giant resource need that can be filled by grants from the advanced economies. By by So, the World Bank has one of the largest trust funds

IDA IDEA that goes to the seventy forest countries. So one way is huge amounts of grant money put in and we we then dispersed that in various U programs, both country programs, but very importantly regional programs and knowledge programs that help the country's adapt to climate change. For example, I'm just back from South Africa. Over the weekend, we decommissioned a coal fired power plant, working with the South African government. This is a microcosm of what's needed in

the world. How do you finance large scale mitigation efforts in poorer country or in developing countries. And when you look at, of course what we've seen over the last twelve months, it's a war in Ukraine that's driving inflation, but it's also energy security. How has that changed funding mentally the talk on climate change and sustainability, It's added

to the burden and made even more urgency. So it's the war in Ukraine, but also the giant amounts of government spending that we're done on covid UH and so that that is putting upward pressure on prices around the world, and that hits the poorest the hardest. They feel inflation the most day. Also very painfully are feeling the extreme

poverty now and the food shortages. Uh, That's why I mentioned fertilizers such an important source because it comes from natural gas, and as the natural gas it goes to Europe to make up for the Russia. The Russia reductions, then that puts a drain on fertilizer and food in the developing world, so they they combine and climate change then is one important aspect of what has to be

dealt with. I know you've put out a statement after the controversy, but there has been a lot of questions about whether your climate change believer are you can you can loose at the record strant once and for all. Yes, of course, it's clear that human activity is contributing to the global warming, and so we need to have action and impact. That's what the World Bank is doing, massive

amounts of action every day. A big chunk of my job is taking action on mitigation reducing greenhouse gas emissions. You know, there are a lot of conferences, but when you really get to it, what we did in South Africa is important. That's decommissioning and then repurposing the land so that electricity can be made from solar panels in this particular project, and also taking account of the people

that are impacted by the climate change going on. So I'll be uh announcing and presenting today a big trust fund by the World Bank called Scale that will bring global resources in to to fund the climate actions by poorer countries. That's a critical part. I just went to a breakfast with with several heads of state on called Global Shield, which is an insurance mechanism to help them

prepare for climate related disasters. And that was World Bank President David Malpass speaking with Bloomberg's Fiancing Lakwaf from the COP twenty seven summit in Charmel Shake, Egypt. You can catch the full conversation on Bloomberg dot com or on the Bloomberg terminal, and stay with Bloomberg Radio for continued coverage of the UN climate talks in Charmel Shake. SMP futures on this election day are higher by five points, staff features of fifty nine and nastac features are higher

by forty four points ten. Your treasuries up three thirty seconds, yield close to four point two zero percent yield on the two year four point seven zero per cent. Stay with us your list thing to Bloomberg day Break. Bloomberg day Break is brought to you by the Jewish Communal Fund j c F. Stoner Advised Fund is the smart tax efficient way to manage a philanthropy. Open at j c F Fund Now. To lock in a two tax deduction, visit j c F n Y dot org. Broadcasting live

from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living free to Washington, d C, Bloomberg ninety one to Boston, Bloomberg one O six one to San Francisco, Bloomberg non sixty to the country Sirius XM tod A one nine team, and around the globe the Bloomberg Business app and Bloomberg Radio dot com. This is Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm Nathan Hager

and I'm Karen Moscow. We're just about three hours away from the Open of US Training time to the five things that you need to notice ourt your day to you by Interactive Brokers. Interactive Brokers charges Martin Loan race from three point five eight percent to four point five eight percent rate subject to change. Learn more at ibkr dot com. Slash compare First, It's Election Day, Americans go

to the polls to decide control of Congress. Jessica Taylor, editor with the Cook Political Report, tells us momentum is on the Republican side. The House looks further gone into the Senate. The Senate is still going to be very, very close. But the closer it gets to election day, the more worried Democrats that I've talked to have gotten and the more bullish Republicans try to just have gotten.

Jessica Taylor of The Cook Political Report spoke at our Washington correspondent Joe Matthew on Bloomberg Sound On Catch the program weekdays at five pm Eastern on Bloomberg Radio. Some of those close Senate contests Karen include Pennsylvania, Ohio, Georgia, and Arizona. Arizona's race for governor is also expected to be close. In New York, Republican Lee z Eldon could deliver a shocker at a governor's race that was thought

to be a shoe in for Democrats. We need the more law enforcement les Eldon has made crime one of his main talking points. In New York. Governor Cathy Hocle campaigned in her hometown of Buffalo last night. Meantime, Nathan former President Trump is not so subtly hinting at another White House bid. I'm going to be making a very big announcement on Tuesday, November. The former president was speaking at a rally in Ohio last night and teasing an

announcement next week. Turning the markets now, Karen stocks have rallied in recent days ahead of the mid terms, but Bloomberg macro strategist Cameron Christ does not think control of Congress will change much for investors. People tend to overestimate the significance of individual political actors in driving economic and certainly financial market returns. Bloomberg's Cameron Christ says this week's consumer price index and uncertainty in China will have more

of a market impact. And at the COP twenty seven Climate summit in Egypt, the World Bank announced a climate trust fund for poorer countries. Bloomberg's franc Laqui spoke with World Bank President Even Malpass. More resources are really important both for the climate crisis but also for the financial crisis affecting the developing countries. And here more of Bloomberg's conversation with World Bank President David Malpass on bloomberg dot

com and on the Bloomberg Terminal. That's the five things you need to know to start your day, brought to you by Interactive Brokers and Futures this morning are higher SNP Futures up eight points down, Future is up sixty nine Nasdack Future is up fifty four. Straight ahead, your latest local headlines, plus the check of sports, and this is Bloomberg. Thanks hearing six three on Wall Street, forty seven degrees in Central Park delays building on the bridges

and tunnels will fill you in the traffic shortly. First, Michael Barr has more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. There are other races being watched in the Tri state area as well. In Connecticut, Democratic Governor Need Lamont is up against Republican challenger Robert Stefanowski. Lamont talked about the infrastructure bill when he spoke to Bloomberg earlier. We got a hundred year old bridges and old Rhodes old rails,

so this is a big deal for us. Every president seems to be talking about infrastructure abides the first guy since iked, as far as I could figure out, to really be serious about it. In the U S Senate Democrat Richard Bloominhal is up against the Republican Leo or Levy. Speaker Nancy Pelosi is now talking about how the brutal

assault on her husband may affect her future in Congress. Pelosi, in her first interview since the brutal hammer attack on her husband Paul, acknowledged to Cienn's Anderson Cooper the attack will impact her decision on her future in Congress, without saying what the decision will be if she's no longer Speaker of the House. I have to say my decision will be effective about what happened the last week or two? Will it be? Will your decision be impacted by the attack?

In anyone authorities? Saint Paul Pelosi is alleged attacker David pop wanted to take Speaker Pelosi hostage. US Ambassador to the U n Linda Thomas Greenfield, is traveling in Ukraine today to reiterate American support for the independence and sovereignty of the war torn country. Her first visit was to a grain elevator and processing facility in the Kiev region, where she met with farmers. The brain deal gave you confidence to go ahead and comblished the current crop. But

also are you plant getting ready to plan again? In the screen? Uh, we'll see your depends. Meanwhile, Russia's heavy casualties in Ukraine have sparked an unusual public outcry and sharp criticism of military commanders from surviving soldiers. After a more than four d increase in Kia and Hyundai thefts in Columbus, Ohio this year, city attorney Zach Klein says he plans to file a lawsuit against the carmakers. He says the suit is, in his words, knowingly selling vehicles

vulnerable to theft. It's like when your great great great grandpa tries to operate the lottery machine. Because of a technical problem, tonight, we are unable to bring you the Powerball drawing at this time. As soon as we're able to resolve the issue and conducted drawing, it will be available for viewing on Powerball dot com and on our YouTube channel Powerball. Nine people waiting in line for hours for the record breaking one point nine billion dollar Powerball

lottery jackpot now after Grandpa touched the red button. Powerball says it's delayed because a participating lottery needed more time to process sales. Global News whatenty four hours a day on air and on Bloomberg quicktake power by more mad journalists, analysts more than a y countries on Michael bar this is Bloomberg. The grandparents out of this, Michael, thank you sixty six on Wall Soter, Let's get the Bloomberg sports out day, prouty by try stayed out. Here's John stash hour. Alright,

Nat with Kybrie Irving story. That's suspense, a little less drama for the Nets. They had a couple of road wins nearly another, but the Nets fell short in Dallas nineties six ninet before Luca Donson's thirty six points of the mass. He joined Wilp Chamberlain as the only players to beginning season with nine straight games with thirty or more points. The Nets are playing better defend with Kevin Durant. Think we followed some things on this trip that are were for all of us to keep all of us

in the game offensively and defensively. Uh you know, I think we uh we follow some stuff, you know, switching and uh, you know, helping on in the post, and it was just a little different things that we're trying to figure out on the defensive side the ball, and the Nets will host the NIXT tomorrow. Knicks back to five hundred. They one in Minnesota one to one oh seven. Nick coach Tom Thibodeaux has always resisted the idea of playing Julius Randall at the same time as fan favorite

Obi Topp, but he did it last night. They combined to make eleven three pointers. Randall scored thirty one points good win to the Islanders Ubs Arena. They trailed Calvary three one midway to the third period. Anders Lee Kal Paul Mary scored a minute apart, and then Noah Dobson with the minute left overtime, Islanders one, four to three. Hopully Night. In college basketball St. John's beating merrymac By twenty five, David Jones played twenty four minutes. He scored

twenty one points at ten rebounds. NFL Baltimore one in New Orleans twenty seven to thirteen. Indianapolis fired coach Frank Wright midway through his fifth season, replaced him for now with Jeff Saturday, the ex Cult lineman who had been working for ESPN. Giant safety 'savier McKinney heard his hand in an a TV accident he'll miss a month. The Yankees, as expected, picked up the fifteen million dollar option on Luis seven Arena. John Dash a word Bloomberg Sports Nathan

all right, John, thank you. At six thirty eight on Wall Street, time to take a look at stock, some of the names moving in the pre market. Bloomberg Markets Live editor Heather Burke joins us now with that, starting off with a du Pont because we just got earnings on that, Heather, Yeah, they're alp about in pre market, and we generally seemed some pretty good earnings for materials

and industrial companies. UH this quarter. DuPont um et adjusted earns per share for three Q beat the average handles estimate. It was two estimate seventy nine. The only thing be watching is um It sees a just to DPS has three thirty, which is kind for at the lower end of its range, and it's seen some consumer electronics demand weakness. But so far in the pre market investors are happy and right on top of the laggard's this morning in the pre market is left. It really is getting crushed

this morning after earnings. Yeah, it's down like about pre market trading. It's on track to hit its lower level on record um the rods here and company's results kind of seemed to confirm a losing market share to Uber, and if this pre market moved holds, it would hit the lowest level since the I p o UM. It has weaker than expected ridership growth, and this kind of comes in contrast to Uber, which reported last week that's

ride hailing customers are rebounded to pre pandemic levels. You know, we got an earning Smiths as well from Trip Advised or how's that stock doing? It's also down about in free market trading on disappointing three quarter results. Revenue was ahead of estimates, but the fourth quarter guidance disappointed, and analyst kind of noted that it was increased spending on viater as the main reason for the soft outlook, but really looks like it's there. It's gonna be a tough

morning for a lot of these online techie stocks. And we're looking ahead to a big name reporting earnings later on today with Walt Disney. What's that stock doing ahead of the report? Yeah, so they're expected to add nine point three million subscribers to the Disney Plus streaming service, and that's a month before introduced an ad support of version UM. One possibly good sign is that Netflix be internal forecast as well as analysts has expectations for the

recent quarter um. But Bloomberg Intelligence is seeing that Disney is going to have a strong finish, So it looks like it could be a good day for the stock. All right, Bloomberg Markets Live editor Heather Burg can be watching all the names once the market opens, Heather, thank you. Futures are pointing to a higher open on this election day. SMP futures up ten points, Staff futures up eighty eight, Nastack futures are higher by sixty points. This is Bloomberg

and Bloomberg Sports was brought to you by Audie. Don't let someone else drive off in the autie model. You've always wanted to visit your local Tri state autie dealer to get behind the wheel of yours today, or visit autie Offers dot com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com and the Bloomberg Business at and at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow and

futures are on the rise. This morning. Let's go to the first word bring gained news desk for today's morning call, and here's Bill Maloney. Bill, good morning, Good morning Karen. That's right. US futures are in the green right now, A death futures up a hundred and seven points, subs gained fourteen n and as that futures rise by seventy one, the US ten year old at four point two percent, Gold is down three, Oil is in the red, but

Bigcoin is trading lower by four point nine percent. Japan rose one point three percent overnight, while Europan markets are trading mixed right now. And back in the US, nothing to report on the economic front after the bell last night, Lift reported weaker than expected rider growth, take to cut its annual bookings forecast, and Tesla closed at a seventeen month low regarding earnings. This morning, DuPont loaded sales guidance, and another news innvided to sell a new chip in

China that meets US rules. Wrapping things up, Scott's Miracle Grow was raised to overvoight at Barkley's Block was raised to outperform over at mcquarie. Live from the First Breaking news desk, I'm Bill Maloney, Camp all right, Bill, thank you, and to hear live breaking news of her Bloomberg time squall on your terminal squ a w K, that's a Bloomberg business flash now here smuckle bar with more. I'm what's going on around the world, Karen, thank you very much.

Months of campaigning and narrow over the mid term elections are here that will decide control of Congress and top governorships. President Joe Biden and knowledge Democrats face a tougher challenge holding the House than the U. S. Senate, but he's optimistic. Meanwhile, former President Trump says he's going to be making a very big announcement on Tuesday, November fifteen at his Maralago resort. Trump has strongly hinted that he will announce another run

for the White House. In the NBA the next one, the Nets lost the Celtics, Wizards, and Warriors all one. In the NHL, the Islanders won in ot against the Flames for three, the Bruins and Capitals. Also one Monday Night football, the Ravens beat the Saints. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than journalists and analysts and more than to twenty countries. I'm Michael Barr, and this is Bloomberg.

Karen all right, Michael bar thank you. It is sixty nine on Wall Street and we turned to news and science and technology now with the Bloomberg and j I T STEM Report. It is brought to you buy New Jersey Institute of Technology as one of the nation's leading polytechnic universities and a top military friendly school. And j I T supports Americans, service members and their families. Learn more at and j I T dot edu. Slash Veterans.

Now here's just making news and science, technology, engineering, and math. The US, EU and Japan will announce the commitment to clean up methane emissions tied to the extraction and transport of oil and gas. It's a follow up to a pledge they made a year ago at the U n S Climate Change Summit. At this year's conference, about forty countries will outline their plans for cutting methane emissions. In China, hopes you're fading that authorities will lift a lockdown of

the area surrounding the world's largest iPhone factory. COVID cases have more than doubled in the city of Sheng Zoe. A seven day lockdown of the air Yeah that houses Apple's global iPhone production based expires tomorrow. The local government may extend the curbs, and Nintendo has cut its fiscal year forecast for switched console sales by ten percent nineteen million. Japanese company blames a shortfall in part on a prolonged ship shortage. Nintendo said it's now front loading production to

maximize delivery in the holiday shopping season. That's the Bloomberg and j I t Stem Report. Nathan Okay, Karen, thank you. We are live from the Bloomberg Interactive Brokers studios where at six fifty on Wall Street timed owt to check what's going on in d C. On this mid term election day. Americans are set to deliver an early verdict on President Biden. President says the House will be tougher to keep them the Senate, and former President Donald Trump

is teasing a big announcement a week from today. Let's bring in Joe Matthew, now part of our team of correspondence covering this mid term election, our Washington correspondent, host of sound on Here on Bloomberg Radio. Joe, good morning. Of course, we know midterm elections are typically tough on the party in power. How tough could this one be for Democrats? Well, it's interesting, you know, look, most of the projections are not great for the House. It does

look like Republicans will take control of the House. The Senate is a little bit more nuanced, although most of the recent polling we've seen would suggest that the Senate could turn red as well. Democrats lose Capitol Hill, they keep the White House, and we have gridlock for the next couple of years. But you know, it's it's interesting how you define a win here, and you know this is leave it the politicians to figure a way to

turn a loss into a win. It really comes down to in the House, how many seats are actually flipped. Knowing that the president has had a very low approval rating, has been in the forties, even slipping into the thirties

at points of you know, his first two years in office. Here, most of the projections that we're looking at from places like cook Political Report from five thirty eight would suggest that somewhere between five fifteen and twenty five seats, maybe on a bad night, thirty seats flip Republican And that would actually be pretty good on historic terms. I don't want to go too far into this, but for a little bit of perspective, Donald Trump lost forty seats in

his midterms. Barack Obama, you go back to Rember, he called that a shell lacking. That was sixty three seats. That would be considered a blood bath tonight. So as far as things go historically, yes, the House likely to flip, but we're not expecting to see as many individual seats

turned as we might historically. What kind of volatility are you expecting when it comes to the possibility that we might not know the results of some pretty closely tight run races in some key battleground states after tonight, Well, we're not and we're really going out of our way here, Nathan to warn people that you're not gonna know tonight the outcome of some of these races. You're probably not going to know tomorrow. We may not know who controls

the Senate for a month. And the reason why I say that is because states like Georgia, for instance, the race between herschel Walker and Senator Raphael Warnock, if they don't get fifty one of them and these guys are are It's true, too close to call. They've been within a percentage point for weeks and weeks. Now that's gonna go to a runoff. If neither Canada gets fIF that runoff takes place in December, that means we're gonna be waiting quite a while here. Pennsylvania meantime, also too close

to call. That's Dr Roz and John Fetterman. Uh, they don't even start counting the early votes. And we've had more than forty million Americans vote early in this mid term cycle, which is a pretty impressive number, Nathan. They don't even get to counting those votes until poll's close at eight o'clock tonight. So here we are on election day and we know it's going to be days, if not weeks, before we have a real sense of what

happens tonight. You mentioned Pennsylvania, Joe, that's one of the few states that are competitive that President Biden has managed to visit in these final days and weeks of the campaign. What do you make of his campaign schedule over the last few days. It seems as though, for the most part, he's been appearing in states and cities that are fairly safe bets for Democrats in New York, Maryland, Pennsylvania. These are areas that are that are considered friendly to Joe Biden. Uh,

and this is common in mid term cycles. Look, there was a time when Barack Obama, who by the way, was fanned out around the country going to states like Arizona and Georgia. He wasn't invited to a lot of districts during his midterm election cycle. Donald Trump wasn't really wanted in a lot of areas in his midterm This is kind of the classic deal here. And for Joe Biden, with with the relatively low approval ratings strength through his first two years here, Uh, they really didn't want to

overdo it. You know. He made a couple of speeches on saving democracy, he did a lot of fundraising, but in terms of standing on stage with a candidate, Yeah, you're right, Nathan. There's a reason why states like Maryland and New York out of visit and others. DEDA. We've been talking so much about how the voter focus is on inflation in the economy and especially in the last few weeks here, but how much shall we be looking at this mid term as a potential proxy race between

President Biden and former President Donald Trump? Given that he's been hinting very strongly that he's running in twenty four. Yeah, I don't. Look, you can't deny it. We've we've got nearly three hundred candidates endorsed by Donald Trump who have professed, at least at one point of their career here in this campaign cycle, to not actually accept the results of

the election. Uh so, yeah, here we are on election even Donald Trump, who's who was in Ohio to stump for J. D. Vance, a candidate who would not likely even be in the running right now if it weren't for Donald Trump. Instead of forwarding his own candidates, he sort of steals the headlines once again by promoting an announcement on November. It is widely believed that he will jump into the race despite the financial consequences, and at that point it's going to be all about twenty four.

Some think it already is about twenty four. Because keep in mind, Nathan, that if a lot of these election deniers, particularly in states like Arizona where you have secretaries of state and others who would be indirectly involved in vote counting and vote certifying, actually set the foundation for what Donald Trump hopes will be his turn in twenty four. Finally, Joe,

we've heard from how Speaker Nancy Pelosi. She gave an interview on CNN last night where she was asked whether the attack on her husband will affect whether she decides to retire after this term. Are you looking out for the possibility of political violence at this midterm or even the threat of that potentially affecting how these races turn out.

I don't know if it's about violence. Look, you know, we've seen stories about about armed and uh and and and masked people hanging around drop boxes, for instance, the idea of intimidation. We have seen instances like Paul Pelosi where there was violence. I think there's a concern that if we don't know for a couple of days who won that that, look, that could turn into something. But I don't think anybody's talking about in January six year

in terms of Nancy Pelosi. On the other hand, you know, it's really interesting that's the first complete remarks really we've heard from her since Paul Pelosi was attacked. She was seemed very upset in the interview with CNN, and it looked this could go one way or the other. Uh, this is not somebody who is new to the game here, and in fact, it's been suggested she might retire anyway. But does this actually motivate her to stay in the in the fray or does it make her want to

go home? If she stays in the United States House, however, there will likely be a concerted effort to to try to get the gavel from from a younger Democrat. Thanks for this, Joe, great having on with us on election day. Joe Matthew are Washington correspondent hosts of sound On. You can catch it every weekday afternoon five pm Wall Street Time across Bloomberg Radio, and stay with Bloomberg Radio and Television for complete midterm election coverage. Tom Keene, Jonathan Farroll,

and Lisa Bramowitz are in Washington for Bloomberg Surveillance. That's next. I'm Nathan Hagar for Karen Moscott. This is Bloomberg