It is election day in the u. S. 226 million americans cast their ballots in one of the most among jewish u. S. President ial elections in recent history. One of the most tumultuous u. S. President ial elections in recent history. Hillary clinton held a narrow lead in most preelection polls. Her campaign has and armed by federal probes into her handling of classified emails, questions about her familys foundation, and public doubts over her trustworthiness. Republican real estate magnate and reality tv star donald trump, defeated 16 primary opponents and promises to drain the swamp of washington corruption. He has faced criticism for his treatment of women and denunciations of immigrants. We bring you the analysis you need on this historic day. I am joined by bloombergs politics and economics editor, Michael Mckee. In london, we are joined by Alexander Friedman for the first half of the program. Alex, good to have you on the program. First, lets get to the bloomberg first world news. Th
We are up around the highs of the session, with the nasdaq leading the gains today. Energylook at the imac, taking over the top spot. Care, thelth pfizerallergan deal being canceled, both of those stocks were up and we are seeing Ripple Effect speculation about where we could see further consolidation in the health care industries. Discretionary and tech stocks are trading higher as well. This is the energy portion of the equation. Weeks inventory reports showing an unexpected draw down in inventories accrued four point 9 million barrels. We are seeing refineries process crude at the fastest pace in three months. Usually theres a delayed effect. Thats what we saw once again with the leg upward in crude and then initially gaining steam as he away from the inventories report. We talked about the correlation between oil and stocks generally. This looks at Energy Stocks specifically. Lowest pointts since 2003. It dragged Energy Stocks in the blue with it. This is global Energy Stocks, not
Numbers are coming out better than analysts had anticipated. The other big economic report of the morning has been next. Adp employment report showing a smaller than estimated gain in employment. Perhaps the precursor to fridays report but there is not always correlation between the two. Productivity falling 1 , even as the unit labor cost rose by 3. 1 , so there has been a lot to digest this morning for investors. Overall, we are still seeing this concern over Global Growth with a scenario coming back into play in the markets. That said, all averages are already up off of the early those with the session cutting the lost that we have seen just about in half. All three major averages. If you take a look at the bond can see the Economic Data and that is what we see for the s p 500 this morning. If you take a look at what is going on with the bond market this morning at what we have ,een seeing in the 10 year note i guess we do not have it, so we will be watching that to see what is goin
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