Big prime-time ratings for Fox News week before election
He suggested they showed his Democratic opponent, Joe Biden, too much on the air; Fox's Brian Kilmeade said Fox was trying to show both sides. “I'm ...
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TOGETHER WITH
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Good morning. Did you know? Nov. 3, 2020, became the first day to last more than 73 hours.
As of this morning, the presidential race has yet to be decided. Full coverage below.
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NASDAQ
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11,145.72
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+ 1.72%
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S&P
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3,365.59
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+ 1.67%
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DJIA
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27,450.27
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+ 1.95%
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GOLD
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1,908.10
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+ 0.82%
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10-YR
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0.879%
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+ 2.20 bps
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OIL
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37.73
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+ 2.50%
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*As of market close
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Markets: Investors don’t seem too worried that the presidential election hasn’t been called yet. Stocks soared yesterday...then futures gained some more as the results poured in. The Nasdaq, and tech shares more broadly, popped off.
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NPR
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Like your next haircut, house party, or pretty much anything else in 2020, the presidential election is TBD.
Where things stand
As of this
newsletter’s send time, President Trump had 213 electoral college votes
and Joe Biden had 238, per the Associated Press. A candidate needs 270
to win.
- Biden swept
northeastern states while Trump notched wins in typically Republican
parts of the South and Midwest. Trump won battlegrounds Florida, Ohio,
and Iowa.
- The Associated Press called Arizona for Biden, the first state to be flipped from its 2016 outcome.
Big picture: This election saw record turnout, including a crush of mail-in ballots that will take time to count
in swing states Pennsylvania, Wisconsin, and Michigan—those states
don’t allow election officials to get much or any counting done before
Election Day. North Carolina, Georgia, and Maine were also too close to
call at the Brew’s send time.
The reaction: President Trump falsely claimed
victory and said he would bring the fight to the Supreme Court, though
it’s not clear what that means. Biden advised patience in an address to
his supporters.
The market reaction
Investors
are left scratching their heads over calculations around the balance of
power between the president and Congress and the likelihood of another
round of economic stimulus.
- Although many polls
favored Biden, the race isn’t playing out decisively in his favor,
forcing investors to price in other outcomes on the fly.
- At one point last night, betting markets that had long favored Biden swung to favor Trump.
Looking ahead...we could be waiting on ballot counts for days or even weeks, and legal challenges may prolong the process even further.
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Getty Images
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All 435
seats in the House and 35 in the Senate put their fates in voters’ hands
yesterday. Don’t worry, we won’t talk about them all.
The backstory: Republicans
went into Election Day with a 53-seat Senate majority. Will Mitch
McConnell, who handily won his reelection, return as majority leader?
Republicans secured 47 seats as of 6am, and six races are still awaiting final calls (all have GOP incumbents). Other highlights:
- Seats in Colorado and Alabama were the first flips, switching to Democrat and Republican, respectively.
- NASA astronaut Mark Kelly pulled off a high-profile W for Dems in Arizona, flipping the state.
- At least one of Georgia’s Senate races is heading to a Jan. 5 runoff, so we may not know the chamber’s final balance of power until then.
The House? Democrats retained their majority and may add a few seats. As of 6am, there are 67 races awaiting final results.
Big picture: The “blue wave” of Democrats some investors were expecting to sweep both chambers hasn’t materialized (at least not yet).
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Their right to vote. Some of the amazing scenes from yesterday...
The Orpheum Theater in Madison, Wisconsin
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Andy Manis/Getty Images
The Staples Center in Los Angeles
David McNew/Getty Images
Bluegrass in Phoenix, AZ
OLIVIER TOURON/AFP via Getty Images
Watch party in New Orleans
EMILY KASK/AFP via Getty Images
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While it was
exciting to learn that we could recite the alphabet from the inside
out, we’ve recently turned our attention to cultivating some more
intriguing and creative skills.
So instead of googling “make us interesting,” we turned to Skillshare—the online learning community featuring thousands of inspiring classes.
Want to become a baby photographer? Skillshare. Looking to become a freelance cartoonist? Skillshare. Want to do something other than stare at a wall and eat chips from 4–6 everyday? Skillshare.
Basically, Skillshare is built to let you explore. Your membership is a veritable gateway into discovering new talents, reconnecting with long-lost ones, or meeting fellow creatives.
So if you’re looking for a more meaningful way to spend your time—Skillshare.
The first 1,000 Brew readers to sign up can snag a free trial of Skillshare Premium.
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Giphy
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Or, as state
election ballots called them yesterday, propositions. Here are the
results from this year’s biggest biz-related ballot measures...
Legal weed: New Jersey and Arizona legalized
recreational marijuana use, while South Dakota and Mississippi approved
medical marijuana. Now, one in three Americans live in a state where
adults can legally buy pot. And Oregon decided to decriminalize the use of all drugs (including heroin and cocaine).
Gig economy: Uber, Lyft, and DoorDash’s hugely expensive Prop 22 passed
in California. The ballot measure directly challenged a recent state
law that required these companies to classify their drivers as
employees, not independent contractors. Uber and Lyft had warned earlier
this year they could suspend their services in CA over the law.
Real estate: Let’s go back to California for this one. Prop 15, which would lift longtime tax protections for commercial property owners, is trailing
as of early this morning. The current system puts a tight cap on
property tax increases even if the value of the property rises
disproportionately.
Work: Floridians voted to raise the minimum wage to $15 by 2026 and Colorado will establish a progressive family and medical leave program.
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Francis Scialabba
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Yesterday, the Shanghai Stock Exchange called off Ant Group’s extremely un-antish IPO slated for Thursday.
- The public debut was expected to be the largest ever, raising at least $34 billion at a valuation north of $310 billion.
- Ant had planned to list in both Shanghai and Hong Kong, but it nixed Hong Kong after Shanghai pulled out.
What’s Ant Group again? An
affiliate of sprawling Chinese conglomerate Alibaba, Ant is a fintech
company...in the same way that Serena Williams is a ping-pong player.
But Ant has ruffled some dangerous feathers: the Chinese government’s. In a recent speech, Alibaba cofounder Jack Ma made critical comments
about the country’s financial regulatory system. Then on Monday, four
regulators summoned Ma and Ant Group’s top execs for a chat. We don’t
know what was said, but it probably wasn’t “keep criticizing us.”
- Ant Group and the government are frenemies; the Chinese Communist Party wants to cultivate the country’s capital markets...but not to the point where it’ll tolerate dissent.
Looking ahead...Ant may still IPO, but it’ll have to pull off some major reorganizing to get right with regulators.
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The U.S. will formally leave the Paris Agreement today.
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Cruise operators, including Carnival and Norwegian, agreed to suspend U.S. operations until 2021.
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Nike plans on cutting 700 jobs from its Oregon headquarters by early January as it continues to restructure around e-commerce.
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Wayfair sales rose 67% last quarter, demonstrating customers haven’t tired of home improvement yet.
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Saudi Aramco, Saudi Arabia’s state-owned oil giant, said profits fell nearly 45% last quarter.
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The FBI is investigating a campaign of an estimated 10 million spam calls that told voters to stay home on Election Day.
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Attention holiday shoppers:
You won’t find a cash back card better than this one. You can avoid
interest charges into 2022 and there’s no annual fee—that means up to
$1,148 in value in your pocket. Don’t go on a holiday shopping spree without this card.*
Don’t have beef with us if you miss out. If you want to invest in Flippy,
the robot who is revolutionizing the QSR industry, time is not on your
side. The campaign to invest in this potential cash cow ends this month.
Invest today.*
R&R grab bag: 25 feel-good movies, comforting recipes, coloring book apps, and 7 tips on handling post-election hangovers. (For more recommendations like these, sign up for the Brew’s Essentials newsletter).
Sizing up: This map lets you compare the size of countries by superimposing one on top of another. It has nothing to do with the election.
Dimensions.com: It’s exactly what you think it is...but probably even cooler.
*This is sponsored advertising content
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Alex Wong/Getty Images
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In this game, we’ll show you a property listed on Zillow, and you have to determine the estimated market value.
Introducing 1600 Pennsylvania Ave
in Washington, D.C. This 16-bed, 35-bath neoclassical masterpiece is
located in a busy neighborhood in the heart of our nation’s capital,
with access to schools, Smithsonian museums, and major subway stations.
Other amenities include...
- A spacious dining room perfect for hosting high-profile guests, like the Prime Minister of Uganda.
- A home theater, bowling alley, putting green, and snipers on the roof.
- A resolute desk and secluded wings, making it ideal for parents working from home.
So what’s the house worth, according to Zillow? Find out the answer below.
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When you share the Brew with your network, you earn free swag like our classic Morning Brew t-shirt.
Are
you one of those people who is always going places? Then you probably
need a shirt. Might as well be this bad boy with the Morning Brew logo
plastered across the chest.
Hit the button below to learn more and access your rewards hub.
Click to ShareOr copy & paste your referral link to others:
morningbrew.com/daily/r/?kid=a17a7110
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$414,696,349
As Trump Sweeps Florida, Biden Makes Desperate Plea to Supporters
Biden Tells Bizarre Story About Playing Ball with Lots of Great Black Athletes
Video Shows Joe Biden Startled, Nearly Falling Over at Campaign Rally in PA
Ready to rumble? Piles of bricks suddenly appearing in U.S. cities
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| ADVERTISEMENT |
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| Breaking News | | |  | | |
| | Trump Signs Executive Order Establishing 1776 Commission | | | | President
Trump has signed an order establishing the 1776 Commission to enable a
rising generation to understand the principles of our nation’s founding
in 1776. … The post Trump Signs Executive Order Establishing 1776
Commission appeared first on Th[...] | | | | | | | |
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