Harris Concedes, House Undecided; Historic Post-Election Rally

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.720 --> 0:00:10.280 Good morning. 0:00:10.320 --> 0:00:13.119 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.160 --> 0:00:14.600 stories we're following today. 0:00:14.760 --> 0:00:17.400 Karen, we begin in Washington, where the White House is 0:00:17.440 --> 0:00:20.720 preparing for the return of Donald Trump. Vice President Kamala 0:00:20.760 --> 0:00:23.920 Harris called the former president yesterday to concede her loss 0:00:23.960 --> 0:00:26.759 on election day. Now, she is urging her supporters to 0:00:26.800 --> 0:00:28.840 embrace a peaceful transfer of power. 0:00:29.120 --> 0:00:29.320 Now. 0:00:29.400 --> 0:00:33.879 I know folks are feeling and experiencing a range of. 0:00:33.840 --> 0:00:34.800 Emotions right now. 0:00:35.640 --> 0:00:36.239 I get it. 0:00:38.800 --> 0:00:41.479 But we must accept the results of this election. 0:00:42.000 --> 0:00:45.680 But Vice President Harris says accepting the results does not 0:00:45.840 --> 0:00:48.640 mean conceding the fight that fueled her campaign. 0:00:49.159 --> 0:00:52.120 I will never give up the fight for a future 0:00:52.200 --> 0:00:59.760 where Americans can pursue their dreams, ambitions, and aspirations, where 0:00:59.800 --> 0:01:02.920 the women of America have the freedom to make decisions 0:01:02.920 --> 0:01:08.120 about their own body and not have their government telling 0:01:08.200 --> 0:01:09.479 them what to do. 0:01:10.120 --> 0:01:13.440 Kamala Harris says accepting an election result as a fundamental 0:01:13.440 --> 0:01:16.720 principle of a democracy, even in a loss. President Biden 0:01:16.800 --> 0:01:19.840 also spoke with President elect Trump yesterday and invited him 0:01:19.840 --> 0:01:22.200 to the White House. The president will address the nation 0:01:22.400 --> 0:01:25.320 about the election outcome this morning at eleven am Wall 0:01:25.319 --> 0:01:27.640 Street Time, and we will bring you those comments live 0:01:27.720 --> 0:01:29.720 on Bloomberg Radio and television. 0:01:30.040 --> 0:01:34.160 Well Nathan, Chinese President Xijhin paying congratulated Trump on his victory. 0:01:34.319 --> 0:01:36.959 He also called for stable tie between the world's two 0:01:37.040 --> 0:01:41.320 largest economies. The early fairly warm comments from Beijing contrast 0:01:41.400 --> 0:01:44.520 with the testy relationship Trump had with China during his 0:01:44.520 --> 0:01:47.520 first term. A trade war erupted in twenty eighteen, and 0:01:47.560 --> 0:01:51.400 Trump has threatened to hit Chinese shipments with sixty percent levies. 0:01:51.600 --> 0:01:54.000 Well Karen Now, Democrats are pending their hopes on the 0:01:54.080 --> 0:01:57.600 House to avoid a full Republican sweep. GOP control of 0:01:57.600 --> 0:02:00.440 the Senate is assured. Republicans have a fifth the two 0:02:00.480 --> 0:02:03.280 seat majority. So far, races are still left to be 0:02:03.320 --> 0:02:07.080 called in Arizona, Maine, Pennsylvania, and Nevada. In the House, 0:02:07.160 --> 0:02:10.520 Republicans currently hold a two six to one ninety one 0:02:10.560 --> 0:02:14.240 seat edge. Thirty eight congressional races are still being counted. 0:02:14.680 --> 0:02:17.400 Well. Among the key races that were called yesterday, Nathan 0:02:17.560 --> 0:02:22.360 Democrats Tammy Baldwin of Wisconsin and Michigan's Alyssa Slotkin both 0:02:22.400 --> 0:02:25.680 won re election. Five Democrats and one Republican won races 0:02:25.680 --> 0:02:29.560 for House seats in California. In Virginia, Democrat Eugene Vinman 0:02:29.760 --> 0:02:31.680 won the race for the House sea left open by 0:02:31.680 --> 0:02:35.600 fellow Democrat Abigail Spenberger, who's running for governor. It could 0:02:35.760 --> 0:02:38.280 take several more days to learn the complete balance of 0:02:38.320 --> 0:02:42.160 power in the House. California alone still has six races 0:02:42.200 --> 0:02:46.040 to decide, and absentee ballot rules make that stay notoriously 0:02:46.160 --> 0:02:47.639 slow in counting its ballots. 0:02:47.800 --> 0:02:51.360 And as Democrats did suffer big election losses, Karen strategists 0:02:51.400 --> 0:02:54.799 say the party will have to immediately analyze what went wrong. 0:02:55.040 --> 0:02:57.800 We get more from Bloomberg News Senior editor Bill Ferries. 0:02:58.200 --> 0:03:03.600 Kamala Harris lost basically across the board. She in terms 0:03:03.600 --> 0:03:07.960 of how President Biden performed four years ago, she lost 0:03:08.080 --> 0:03:11.480 even where she won, I mean even in key demographics. 0:03:11.520 --> 0:03:14.880 She saw her support fall. In a state like Florida 0:03:15.160 --> 0:03:18.760 that Joe Biden lost by three percentage points in twenty twenty, 0:03:18.880 --> 0:03:23.040 Kamala Harris is losing by thirteen percentage points. So there's 0:03:23.040 --> 0:03:25.480 got to be a big assessment of what went wrong, 0:03:26.400 --> 0:03:29.800 what message voters, you know, we're really looking for? And 0:03:29.840 --> 0:03:31.880 I think in the end, You know when you talk 0:03:31.960 --> 0:03:35.080 to looked at exit polls of people saying the economy 0:03:35.160 --> 0:03:37.920 was a problem, immigration was a problem, and broadly they 0:03:37.920 --> 0:03:40.360 didn't think the country was on the right track. As 0:03:40.400 --> 0:03:43.240 an incumbent vice president, that was going to be a 0:03:43.360 --> 0:03:45.960 very difficult race to run successfully. 0:03:46.000 --> 0:03:49.960 In Bloomberg's Bill, Ferries ads that Kamala Harris even underperformed 0:03:49.960 --> 0:03:53.600 in traditionally blue states like New York, where Trump secured 0:03:53.640 --> 0:03:57.200 the highest percentage of voters of any Republican presidential candidate 0:03:57.480 --> 0:04:00.400 since at least nineteen ninety six, ninth. 0:04:00.240 --> 0:04:02.520 And one more election. We're keeping tams on the race 0:04:02.560 --> 0:04:05.760 for mayor of San Francisco. The city is still tabulating 0:04:05.800 --> 0:04:09.840 results from Tuesday's election, but so far political newcomer Daniel 0:04:09.960 --> 0:04:13.680 Lurie is holding his lead over current mayor London Breed. 0:04:14.080 --> 0:04:17.320 After fourteen rounds of counting philanthropist and Levi's air, Luri 0:04:17.480 --> 0:04:20.200 has more than fifty six percent of the ranked choice votes, 0:04:20.240 --> 0:04:21.600 with Breed at forty three. 0:04:21.960 --> 0:04:25.080 Turning the markets now, Karen futures are higher. Adding to 0:04:25.360 --> 0:04:28.720 yesterday's historic rally, the S and P five hundred registered 0:04:28.800 --> 0:04:31.760 its best post election day ever, surging two and a 0:04:31.760 --> 0:04:35.599 half percent. The Dow rallied more than fifteen hundred points 0:04:35.720 --> 0:04:38.640 or three point six percent, and the Russell two thousand 0:04:38.720 --> 0:04:42.520 index of small cap stocks gained almost six percent. And 0:04:42.560 --> 0:04:45.880 Nastasia A. Moroso is chief investment strategist at I Capital, 0:04:46.160 --> 0:04:46.679 the reason. 0:04:46.520 --> 0:04:49.599 Why small caps in particular rallying so much is because 0:04:49.640 --> 0:04:54.320 they are typically more sensitive to Republican majority, and so 0:04:54.360 --> 0:04:57.200 that's helping sentiment. You know, they're also more sensitive to 0:04:57.400 --> 0:05:00.880 the domestic orientation and potential for lower taxes, and of 0:05:00.920 --> 0:05:03.280 course the sensitive to rate relief, and so you kind 0:05:03.279 --> 0:05:05.640 of have this perfect combination of factors. 0:05:05.920 --> 0:05:09.760 And I Capital Xanastaja Moroso says, treasury yields climbed across 0:05:09.800 --> 0:05:13.760 the curve as well. US tenure yields advanced seventeen basis 0:05:13.800 --> 0:05:16.760 points to four point four to four percent right now 0:05:16.800 --> 0:05:18.680 the ten years giving some of that back, it's at 0:05:18.680 --> 0:05:22.240 four point four to two. Bitcoin, which rallied nearly ten 0:05:22.320 --> 0:05:25.880 percent yesterday, is down one and a half percent. 0:05:26.680 --> 0:05:29.719 Well, Nathan, the rich got richer after Donald Trump's election 0:05:29.880 --> 0:05:32.560 victory and possible right as sweep. We get that story 0:05:32.560 --> 0:05:34.640 from Bloomberg's John Tunker. John, Good morning. 0:05:34.720 --> 0:05:36.839 Yeah, we're talking about a lot of money here, Karen, 0:05:36.880 --> 0:05:39.039 Good morning. The fortunes of the ten richest people in 0:05:39.080 --> 0:05:42.800 the world surged by a daily record after election Day. 0:05:43.240 --> 0:05:46.000 According to the Bloomberg Billionaires Index, the net worth of 0:05:46.040 --> 0:05:50.000 billionaires surged by sixty three and a half billion dollars. 0:05:50.480 --> 0:05:53.800 The biggest game was for the world's richest person, Elon 0:05:53.920 --> 0:05:57.120 Musk alone added twenty six and a half billion dollars 0:05:57.160 --> 0:06:01.279 to his pot. Amazon's Jeff Bezos and Oral Larry Ellison 0:06:01.279 --> 0:06:03.880 were also among the top gainers. It's the biggest daily 0:06:03.920 --> 0:06:07.719 increase since Bloomberg's Wealth Index began back in twenty twelve. 0:06:08.200 --> 0:06:09.880 A bunch of the gains for the ulder rich. It 0:06:09.880 --> 0:06:13.280 came down to a surge in stocks. Musk, who campaign 0:06:13.320 --> 0:06:15.960 alongside with the President of lacked his pois to influence 0:06:16.080 --> 0:06:19.600 policy since Trump is found to give him an official role. 0:06:19.960 --> 0:06:23.960 Tesla shares in New York surged fifteen percent on Wednesday. 0:06:24.360 --> 0:06:26.440 In New York, I'm John Tucker, Bloomberg Radio. 0:06:26.680 --> 0:06:29.320 Okay, John, thank you. Now that investors turned their attention 0:06:29.440 --> 0:06:32.800 to Washington and this afternoon's FED decision. We get a 0:06:32.839 --> 0:06:36.479 preview from Bloomberg's Michael McKee. The election results leave the 0:06:36.520 --> 0:06:40.240 FED little room for maneuver. Policymakers should go ahead with 0:06:40.279 --> 0:06:43.240 another quarter point reduction in the benchmark US lending rate, 0:06:43.600 --> 0:06:46.279 but the policy path they laid out at their September 0:06:46.320 --> 0:06:49.880 meeting is now off the table. With interest rates rising 0:06:49.920 --> 0:06:54.000 on Trump policy inflation concerns, they will likely signal a 0:06:54.120 --> 0:06:56.680 pause in the rate cutting cycle until they have a 0:06:56.720 --> 0:07:00.400 better idea of how the current economy is performing and 0:07:00.600 --> 0:07:03.200 how far Trump will go with his tariff, tax and 0:07:03.320 --> 0:07:07.840 deportation proposals. There are no new economic forecasts coming out 0:07:07.880 --> 0:07:10.680 of this meeting. We'll get a statement on the policy rate, 0:07:10.720 --> 0:07:13.320 and most likely a lot of Chair Ja Powell saying 0:07:13.800 --> 0:07:17.440 we don't know what happens next. Michael McKee, Bloomberg Radio. 0:07:17.520 --> 0:07:20.280 All right, Mike, thanks for full FED coverage. Stick with 0:07:20.360 --> 0:07:23.400 us for a special edition of Bloomberg's Surveillance The Fed 0:07:23.440 --> 0:07:26.960 The Sides with Tom Kean, Jonathan Farrell, and Lisa Abromoitz. 0:07:26.960 --> 0:07:29.720 It's coming up at one thirty Wall Street time on 0:07:29.760 --> 0:07:34.520 Bloomberg Radio, Bloomberg Television, and on the Bloomberg Podcasts YouTube page. 0:07:34.680 --> 0:07:37.600 Well, Nathan, we also have a policy decision overseas. The 0:07:37.640 --> 0:07:40.400 Bank of Inland is expected to lower interest rates for 0:07:40.440 --> 0:07:43.520 the second time this year due to an unexpectedly fast 0:07:43.600 --> 0:07:46.000 slowdown in inflation in Asia. 0:07:46.280 --> 0:07:49.600 Nissan has cut its annual profit outlook and announced plans 0:07:49.600 --> 0:07:52.680 to eliminate thousands of jobs globally as the carmaker looks 0:07:52.720 --> 0:07:56.680 to counteract deteriorating sales in major markets. Nissan says some 0:07:56.840 --> 0:07:59.320 nine thousand positions will be slashed globally. 0:08:00.080 --> 0:08:02.360 Here in the US, Nathan Shares a quall com. They 0:08:02.360 --> 0:08:05.200 are up almost eight percent this morning. The world's biggest 0:08:05.240 --> 0:08:09.320 seller of smartphone processors gave a bullish sales forecast for 0:08:09.360 --> 0:08:12.240 the current period, pointing to bright spots in the mobile 0:08:12.240 --> 0:08:13.080 device industry. 0:08:13.400 --> 0:08:18.280 Karen Lift shairs are lifting higher by the two twenty 0:08:18.320 --> 0:08:19.000 three percent. 0:08:19.080 --> 0:08:19.600 This morning. 0:08:19.600 --> 0:08:22.600 The right Hanling Company issued strong earnings guidance for both 0:08:22.600 --> 0:08:25.480 this quarter and the full year. Lift also introduced a 0:08:25.480 --> 0:08:27.960 new three dollars a month plan that allows commuters to 0:08:28.040 --> 0:08:32.040 avoid surging prices during peak hours. 0:08:33.760 --> 0:08:35.120 And it's time now for a look at some of 0:08:35.120 --> 0:08:37.320 the other stories making news in New York and around 0:08:37.320 --> 0:08:39.880 the world. And for that we're joined by Bloomberg's Michael Barr. 0:08:39.920 --> 0:08:43.160 Michael, good Morning, Good morning, Karen German, Chancellor All off, 0:08:43.200 --> 0:08:46.800 Shoals called for a snap election after divisions over how 0:08:46.800 --> 0:08:50.440 to revive the lockluster economy triggered the breakup of his 0:08:50.520 --> 0:08:54.160 three party ruling coalition. The crisis came to a head 0:08:54.200 --> 0:08:59.040 with Shols's shock dismissal of Finance Minister Christian Linder late 0:08:59.200 --> 0:09:02.360 last night, saying that the chairman of the pro business 0:09:02.920 --> 0:09:08.000 FDP party had refused a proposal to suspend rules limiting 0:09:08.040 --> 0:09:12.480 new government borrowing. Shoals called for a confidence vote in January, 0:09:12.760 --> 0:09:15.760 with a goal of pulling forward next year's federal election 0:09:15.840 --> 0:09:19.800 to March. From September, California fire officials are working to 0:09:19.840 --> 0:09:23.480 battle the growing Mountain Fire. It has already burned more 0:09:23.520 --> 0:09:26.880 than fourteen thousand acres, and evacuations have been ordered for 0:09:27.000 --> 0:09:31.920 several areas, including the city of Camarillo, Ventura County Fire 0:09:32.040 --> 0:09:33.199 Chief Dustin Gardner. 0:09:33.559 --> 0:09:36.840 Every firefighter in the region, every law enforcement agency available, 0:09:37.040 --> 0:09:39.839 every helicopter, every fixed wing aircraft, everything we've been able 0:09:39.840 --> 0:09:41.520 to get a hold of is here fighting this fire. 0:09:42.000 --> 0:09:45.120 The fire is fueled by dry conditions and Santa Ana 0:09:45.200 --> 0:09:48.560 winds gusting up to eighty miles per hour. Cuba is 0:09:48.640 --> 0:09:52.560 reeling after a powerful Category three hurricane ripped across the 0:09:52.600 --> 0:09:55.920 island and fierce winds knocked out the country's power grid. 0:09:56.400 --> 0:10:00.679 Forecasters had warned that Hurricane Raphael could bring life threatening 0:10:00.760 --> 0:10:05.280 storm surges, winds, and flash floods the Cuba after ravaging 0:10:05.320 --> 0:10:09.600 parts of the Cayman Islands and Jamaica. UNSEF is asking 0:10:09.640 --> 0:10:11.960 for help to provide relief to a large group of 0:10:12.040 --> 0:10:15.920 children affected by a historic drought along the Amazon River. 0:10:16.360 --> 0:10:20.120 Antonio Merrow is an emergency manager with the organization. 0:10:20.600 --> 0:10:23.079 This is basically the strongest drought in history in the 0:10:23.160 --> 0:10:27.000 last century, and unfortunately, there are no improvement expected in 0:10:27.040 --> 0:10:30.920 the coming weeks and months. Several tributaries of the Amazon 0:10:31.080 --> 0:10:33.320 River are literally drying up. 0:10:33.880 --> 0:10:37.839 UNICEF Santonio Morro says they estimate more than four hundred 0:10:37.880 --> 0:10:42.199 and twenty thousand children are currently affected by this global 0:10:42.240 --> 0:10:44.960 news twenty four hours a day and whenever you want 0:10:44.960 --> 0:10:47.440 it with the Bloomberg News Now, I'm Michael Barrn. This 0:10:47.600 --> 0:10:48.640 is Bloomberg Karen. 0:10:48.840 --> 0:10:56.040 Sorry, Michael barr Thank you time now for the Bloomberg 0:10:56.120 --> 0:10:59.160 Sports Update, brought to you by tri Estate Audi. We 0:10:59.240 --> 0:11:01.520 bring in johnstone Shower, John, good morning. 0:11:01.280 --> 0:11:02.960 Good morning, carry on the end to a four game 0:11:03.040 --> 0:11:04.800 road trip for the next They won the first two 0:11:04.840 --> 0:11:07.559 but lost the last two. Trip ended in Atlanta Hawks. 0:11:07.679 --> 0:11:10.360 The Knicks had a five point lead and possession with 0:11:10.360 --> 0:11:12.320 three minutes left. The Hawks won on a thirteen to 0:11:12.360 --> 0:11:15.480 one run. Atlanta won one twenty one, one sixteen and 0:11:15.520 --> 0:11:19.080 Preston game for Hawks rookie Zachkarry resa Chet first pick 0:11:19.120 --> 0:11:21.480 of the draft. The Frenchman scored thirty three points. Carl 0:11:21.520 --> 0:11:24.559 Anthony Tams led the Knicks with thirty four Warriors won 0:11:24.600 --> 0:11:27.480 in Boston one eighteen one twelve. Jason Tatum thirty two 0:11:27.520 --> 0:11:30.400 points in the loss. He was facing Steve Kerr, his 0:11:30.520 --> 0:11:33.439 Olympics coach who bench Tatum a couple of times last 0:11:33.480 --> 0:11:35.679 summer in Paris. Cleveland off to its best start every 0:11:35.679 --> 0:11:38.240 now nine to zero with a win at New Orleans Hockey. 0:11:38.280 --> 0:11:41.480 The Capitals on Alex Ovechkin third period goal beat Nashville 0:11:41.520 --> 0:11:43.920 three to two, and for Ovechkin career goal number eight 0:11:44.000 --> 0:11:46.679 sixty one eats thirty four more to break wings Reski's 0:11:46.720 --> 0:11:50.000 all time record. College hoops Columbia up sat Villanova in 0:11:50.080 --> 0:11:52.640 ninety to eighty. High hopes this season for Rutgers. 0:11:52.679 --> 0:11:53.800 A couple of big time freshmen. 0:11:53.840 --> 0:11:57.040 The Scarlet Knights opened up seventy five fifty two over 0:11:57.080 --> 0:12:00.559 Wagner Baseball General manager meetings going on in San Antonio 0:12:00.600 --> 0:12:03.760 and in town. The uber agent Scott Boris his client, 0:12:04.080 --> 0:12:06.120 his biggest client, Free agent Wan Soda. 0:12:06.440 --> 0:12:09.480 I'm getting an opportunity to acquire a player at this age, 0:12:09.520 --> 0:12:14.120 with this skill, with this character, with this experience, with 0:12:14.840 --> 0:12:23.000 so much performance gradient established that they understand the surplus 0:12:23.080 --> 0:12:23.679 value of it. 0:12:24.000 --> 0:12:27.120 Many expect Soto's decision to come down to staying with 0:12:27.200 --> 0:12:30.640 the Yankees or joining the Mets. John Stashemer, Bloomberg Sports can. 0:12:30.640 --> 0:12:37.400 Nathan Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:37.600 --> 0:12:40.480 and around the world on Bloomberg dot Com and the 0:12:40.520 --> 0:12:44.559 Bloomberg Business app. This is Bloomberg Daybreak. Good morning. 0:12:44.559 --> 0:12:47.640 I'm Nathan Hager. Washington and the world are preparing for 0:12:47.679 --> 0:12:51.080 the return of Donald Trump to the world's most powerful office. 0:12:51.240 --> 0:12:53.880 Vice President Kamala Harris says she is committed to a 0:12:53.920 --> 0:12:54.920 peaceful transition. 0:12:55.520 --> 0:13:00.880 While I conceive this election, I do not seed the 0:13:00.920 --> 0:13:03.160 fight that fueled this campaign. 0:13:04.080 --> 0:13:06.600 Vice President Harris says accepting an election result as a 0:13:06.640 --> 0:13:09.839 fundamental principle of democracy even in a loss for more. 0:13:09.880 --> 0:13:12.920 We are joined by Lindsay Newman, geopolitical risk expert and 0:13:13.000 --> 0:13:16.360 columnist at G zero Media. Lindsay, welcome back. Did we 0:13:16.440 --> 0:13:19.920 hear from Vice President Harris an implicit rebuke of former 0:13:19.960 --> 0:13:22.880 president now President elect Trump, who still has yet to 0:13:22.960 --> 0:13:27.360 concede his loss four years ago? Good morning, Good morning. 0:13:27.480 --> 0:13:31.200 Yes, we certainly heard what she was saying about, you know, 0:13:31.240 --> 0:13:32.880 the fight she carries a fight forward. I think the 0:13:32.920 --> 0:13:34.719 big question, Nathan, is what is the fight that the 0:13:34.760 --> 0:13:38.640 Democratic Party is caring forward? In the sort of postmartum 0:13:38.640 --> 0:13:41.760 that we're all doing this morning and yesterday? The question 0:13:41.960 --> 0:13:46.040 is did the Democratic Party and did Kamala Harris's campaign? 0:13:46.080 --> 0:13:49.360 Was the strategy a flawed strategy, particularly focusing in on 0:13:49.400 --> 0:13:52.520 these points around freedoms and democracy and turning the page 0:13:52.760 --> 0:13:55.360 when it seems very clearly that the question that voters 0:13:55.400 --> 0:13:57.640 really had in their minds was the one Trump was asking, 0:13:57.679 --> 0:13:59.600 which was are you better today than you were four 0:13:59.640 --> 0:13:59.960 years ago? 0:14:00.080 --> 0:14:00.240 Out? 0:14:01.040 --> 0:14:05.320 So, how does the strategy change as Democrats reassess what 0:14:05.480 --> 0:14:07.440 they did wrong this time around? 0:14:08.559 --> 0:14:11.920 Well, if you're in the Democratic leadership, you definitely have 0:14:11.960 --> 0:14:14.400 to be doing some soul searching and asking yourself, what 0:14:15.160 --> 0:14:17.280 do we need to do differently. This is not just 0:14:17.320 --> 0:14:19.600 a we can roll into twenty twenty six and do 0:14:19.680 --> 0:14:23.240 more of the same. There are some deep flaw there's 0:14:23.280 --> 0:14:27.480 some deep divisions within the party, intered party, divisions around 0:14:27.640 --> 0:14:30.000 the future of the policy, the message of the policy. 0:14:30.040 --> 0:14:33.080 There's a progressive wing, there's centrists. This is not a 0:14:33.200 --> 0:14:37.720 united party, and that really hurt them yesterday on Tuesday 0:14:38.120 --> 0:14:41.080 and really helped the Republicans. You see the map turn 0:14:41.160 --> 0:14:45.480 red across the board, and it's because this is a 0:14:45.520 --> 0:14:48.120 mandate for Donald Trump. He did not just win, he 0:14:48.240 --> 0:14:52.120 won convincingly. He'd beat expectations, pulling and betting markets. He's 0:14:52.120 --> 0:14:54.640 now for the first time, not only won the electoral college, 0:14:54.720 --> 0:14:56.920 but he won the popular vote. So this is not 0:14:57.000 --> 0:15:00.000 a small loss for the Democrats. This is a time 0:15:00.120 --> 0:15:02.120 for them to really look at what they're going to 0:15:02.160 --> 0:15:02.680 do differently. 0:15:03.280 --> 0:15:06.240 By contrast, are you saying that the Republican Party is 0:15:06.320 --> 0:15:09.320 more unified than the Democrats and what could that mean 0:15:09.560 --> 0:15:13.480 for policy making under a Trump two point zero? 0:15:14.280 --> 0:15:18.880 Republicans are clearly more united than Democrats are, and as 0:15:18.920 --> 0:15:21.480 we've seen in the demographic analysis, they are picking up. 0:15:21.480 --> 0:15:25.280 They're widening the umbrella. They are reaching wider swaths of 0:15:25.280 --> 0:15:28.680 the American population than they had in twenty twenty and 0:15:28.760 --> 0:15:33.280 in midterm elections going into January twenty and twenty twenty five. 0:15:33.560 --> 0:15:37.960 Trump and his key allies around him, his advisor around him, 0:15:37.960 --> 0:15:40.800 are clear had four years to prepare for this moment. 0:15:40.880 --> 0:15:43.960 This is not a twenty sixteen redo. They are clear, 0:15:44.240 --> 0:15:47.840 whether it's Project twenty twenty five, what their policy agenda is. 0:15:48.480 --> 0:15:51.760 Believe what he's been saying on the campaign trail around tariffs, 0:15:51.760 --> 0:15:58.000 around trade policy, around corporate tax reductions, around potentially sealing 0:15:58.000 --> 0:16:01.760 the border. You know, bigger question marks around these promises 0:16:01.800 --> 0:16:04.640 to end the war in Ukraine immediately, even before stepping 0:16:04.640 --> 0:16:08.320 into office. There's a lot of combing through what that 0:16:08.360 --> 0:16:12.800 could actually involve in since his victory on Tuesday. But 0:16:13.000 --> 0:16:16.640 absolutely Donald Trump and his advisors are ready and prepared 0:16:16.680 --> 0:16:18.160 and know what their intentions are. 0:16:18.480 --> 0:16:21.400 This is Bloomberg day Break, your morning podcast on the 0:16:21.480 --> 0:16:25.000 stories making news from Wall Street to Washington and beyond. 0:16:25.240 --> 0:16:27.640 Look for us on your podcast feed by six am 0:16:27.680 --> 0:16:31.080 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:31.320 --> 0:16:34.160 You can also listen live each morning, starting at five 0:16:34.200 --> 0:16:36.800 am Wall Street Time on Bloomberg eleven three to zero 0:16:36.920 --> 0:16:39.800 in New York, Bloomberg in ninety nine to one in Washington, 0:16:39.880 --> 0:16:43.840 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:44.000 --> 0:16:45.560 XM Channel one twenty one. 0:16:45.960 --> 0:16:46.280 Plus. 0:16:46.320 --> 0:16:48.920 Listen coast to coast on the Bloomberg Business app now 0:16:48.920 --> 0:16:51.560 with Apple CarPlay and Android Atto interfaces. 0:16:51.800 --> 0:16:54.800 And don't forget to subscribe to Bloomberg News Now. It's 0:16:54.800 --> 0:16:57.560 the latest news whenever you want it in five minutes 0:16:57.640 --> 0:17:00.320 or less. Search Bloomberg News Now and your face favorite 0:17:00.320 --> 0:17:04.960 podcast platform to stay informed all day long. I'm Karen Moscow. 0:17:04.760 --> 0:17:07.280 And I'm Nathan Hager. Join us again tomorrow morning for 0:17:07.320 --> 0:17:09.240 all the news you need to start your day right 0:17:09.280 --> 0:17:12.480 here on Bloomberg dabray