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tv   Closing Bell  CNBC  November 8, 2016 3:00pm-5:01pm EST

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>> are there women that went there besides hillary clinton? >> sue wagner. all big names. >> thank you very much for joining us. >> you're not doing anything different tomorrow. >> thanks for watching power lunch. >> "closing bell" starts right now. >>. >> welcome to "closing bell." i'm in for kelly evans. she will be joining us from world headquarters. >> always an honor to have you with us. one hour left of trading on this election day. we have had volatility here just four hours until the first polls close. market moving more than many may have anticipated. some making moves based on early unconfirmed reports about how the vote is shaping out. now we are turning lower as we
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head towards the last hour of the trade. the s&p is up six points. the dow was up 150. it is up only 66 right now. >> and what is leading this market action? the mexican peso. many looking at this one as a proxy for how the election is going. it has been on a wild ride all over the place today. as you can see in that little green on the top that's the dollar. the peso weaker. now surging almost a full percent. >> it moves inversely with the fortunes of trump's fortunes. >> it is considered the biggest loser of the trump presidency between building a wall. either way you look at it when trump's chances go up the peso goes down. >> we will talk with billionaire home depot co-founder ken langone. >> and we have full team coast to coast coverage of this
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election day over the next two hours. eamon javers is in new york city. contessa brewer in arizona. jane wells in nevada. eamon javers, let's start with you and what hillary clinton and donald trump are doing now that decision day is finally here and they are voting. imagine this after thousands of miles both candidates for more than a year are going to end up here in manhattan about two miles apart. we have seen both hillary clinton and donald trump today out voting. hillary clinton we saw early this morning casting her ballot along side former presidents bill clinton. the clintons out early in the morning. we saw donald trump later in the day here in manhattan. he cast his ballot at ps 59. this is a very manhattan centric election day for us.
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there was a little bit of booing and disruption at the polling place this morning. there were a group of people there we are told cheering for him. a little bit of pro and conthere. we are here at the center where hillary clinton is going to be having her event later on this evening. we are told that hillary clinton is working on two versions of her speech for tonight. one if she wins and one if she loses. this is the time of day where both go back to their respected headquarters or hotel rooms, rest up. it has been a long night last night and early morning this morning and will be potentially a late one tonight. they will want to rest up and get food and sleep and be ready to go for the evening. we will wait and see where the voters take it from here. >> for them and us. let's check in with scott in the battleground state. >> we are in wake county in raleigh. the next county over is durham
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county. the state board of elections said they are going to meet sometime this afternoon presumably to review a request by durham county to keep polls open longer because of technical glitches in that county. there was an issue we knew about earlier in the day according to the state with the poll books that they use to check in registered voters normally using electronic version the state ordered them to switch to paper because of glitches. at the time the state says no disruption in voting. we are monitoring that closely. north carolina is pivotal in this election not only to presidency but senate and governor's race in this state. the state board of elections said they welcome all the attention and it is a good thing. >> we had long lines this morning in some areas. people are excited. people are out there voting. it is a good day for north carolina. we hope people keep voting the rest of the day. >> we can take a look inside
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live a polling place in charlotte, north carolina. the largest city in this state. there has been fairly steady turnout but there has also been a lot of attention paid to the early vote. african-american turnout down from four years ago. they were 50% four years ago. the final figures comes in at 45%. basically there is a big premium on every vote cast today on election day. that explains a lot of the attention in durham county. not the largest by any means but here as everywhere else every vote counts. >> thank you. speaking of unfolding stories we have a news alert on the voting in nevada. jane wells, what is going on there? >> well, breaking news, a judge here in clark county has denied an appeal by the trump team to with hold evidence or protect evidence or keep back ballots
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during early voting here. the trump team has claimed that it has eyewitnesss who say at the four polling places either polls were kept longer than they should have been, even before poll workers knew there would be long lines or because you have to keep polling places open long enough for everybody in line at the cutoff to vote. trump team is claiming there were people who got in past that cut off who were still able to vote. the judge throwing that out today saying you haven't done enough administrative remedy. you haven't appealed to get information yet and that you came directly to the court and gave trump's attorney short shrift about that. the bottom line is this early voting dispute and desire by the trump team to protect the evidence that there may have been irregularities at this point isn't going to happen and those ballots at this point will be counted with the others. back to you. >> thank you. checking back on that story. another key battleground state,
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that would be florida. what is the move there? >> anxious anticipation for sure here in the retirement community where the vast majority of residents voted last week and that continues to be the story in florida. record early voter turnout and record hispanic voter turnout. more people voted today than in total in the early 2000. there are two places here. so far we have heard of no voter irregularities in the state. the final polls showed very, very close race. if you talk to folks around here it seems equally close. you see signs in the neighborhoods and communities equal. >> thank you. so we will be getting back to team coverage on this election day but let's get to closer bell exchange for a market that has seen volatility. andrew is with us today and so
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is larry blazer. steve grasso is at post 9. and rick santelli standing by in chicago. we have had this volatility as the market watches the election results. as i mentioned earlier the dow had been up 151 points after a late morning rally and now we pull back. >> as soon as you see that rally it was basically clinton was ahead in those swing states and whenever the early polling results the market rips higher. as soon as you start to see maybe a lack of ability for donald trump to concede with a hillary win and starts to contest some results then you start to see the markets sell off. then you have jane read that headline from nevada. market rallies back. the longer we go without a confirmed president, the lower this market will go. if we get a confirmed president the market has a little more room to the upside. >> we should point out those
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early results that we have been talking about are unconfirmed at this point. >> absolutely. even if they are having an impact as some traders are telling us. to you on the short term before we get to long term strategy for either administration the more the markets price in a clinton win this back-to-back rally strong yesterday. i think it is the strongest two-day rally since june. what does that tell us about reaction to that if it comes to be tomorrow? >> there is no question that today goes well beyond choices you have with the presidential election. it is about choices with the investment dollars every day and thinking through the first 100 days as we build an investment strategy. today and yesterday more so was the grid lock rally. that was the market saying we are going to get a balance in washington and have checks and balances and discuss and negotiate policy. that is what the markets want. they don't want one party sweeping washington. that is why the first 100 days is going to be lots of policy
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and 100 days of volatility. we start off with the fed. we are all looking at the fed right after the election. we know that is coming up. there is a lot going on and a lot of opportunity for investors to make shifts in the portfolios taking advantage of the volatility. >> what i'm asking is that there is no surprise on the senate or on a divided congress and on presidential election. >> if you had a sweep of one party that would be a surprise and a sell to rally news. that would be a sell the news. right now balance is best because we don't want one party controlling it. we don't want tosee policy shift to the left or right. as of right now we believe that that is the case. we will know better tomorrow morning. barring unusual situation we have 50 to $70 trillion of cash on the sidelines giving you further buying advance if grid lock stays in place. >> there seems to be certain sectors that are proxys.
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health care being one. maybe financials are another. are you looking at either of these as opportunities depending on which way the election results come out? >> we think that hillary clinton is going to win and the democrats will win by a narrow majority in the senate. republicans will keep the house. the real question here -- i understand this view point that grid lock is good, but we have to remember that the fed is tightening. the market is topped out and investors are looking for a baton pass for monetary policy to fiscal policy. we need a government that works. and the most important data point that we are looking at right now is what happens with paul ryan and his speakership on november 15 when they are supposed to vote? we are hearing that that vote may be pushed off and he may encounter difficulty and paul ryan is good for business. he is good for the economy. and really as investors look out
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they need a clinton paul ryan relationship to make this work. >> that is all very interesting but you didn't answer my question. are there sectors you see as opportunities? i'm trying to make this useful to investors who are trying to make sense of the election. >> sure there are. a lot of investors are positioned for infrastructure and some of these longer term plays. but we saw solar stocks up earlier today on hillary clinton's promise to put a half a billion units on top of roof tops. that is not going to happen for two years. investors i think are too short sighted. we will get a rally after she wins but i think that there is risk between now and the end of the year that investors need to be paying attention to. >> there isn't an investor alive that doesn't know health care is vulnerable under a democratic sweep. there are some areas that will do well regardless who wins.
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other areas like industrials will do well. there are opportunities here regardless of who wins. >> let's tackle this question of what will happen to bonds and interest rates. rick santelli, never easy for investors to price in political risk. what are you hearing from chicago? what is the trade on bonds? >> i think the trade on bonds for now is the fed and the stock market. the stock market gets its legs back, we get a couple of gap moves in treasury rates but the two year participated. at 187.5 today the high yield would have made the highest yield close going back to april 26. i listen to andrew, it all sounds great. their crystal balls are so much cleaner than anything we are talking about in chicago. there is a lot of heracy going on. one trader said if hillary clinton is status quo candidate why is the rally so important with her winning. think about the most unlikely
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outcome. isn't that the shortest route to lower taxes? so he says. less regulations? so he says. every guest we have says those are bullish for the stock market. i don't know how anybody can read any of this in the tea leaves. no matter what outcome we have i don't think interest rates will be going much lower anytime soon. >> we have to go at this point. thank you all for your thoughts on today's election market. we'll see you later. we will head to the close with 46 minutes left in the trading session. we have volatility. >> up next the balance of power in the senate could shift after tonight. we'll break down how that could happen. we will show you a few key races next. more analysis on the markets in the election. we will hear from home depot co founder ken langone.
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hillary clinton adviser and david stockman, the man credited as the father of reaganomics. a lot to get to. we will discuss the warning to investors. >> strong opinions there. >> very much so. there are many more but we don't have time to tell you about it. we'll get to it coming up. you're watching cnbc, first in business world wide. why are you deleting these photos? because my teeth are yellow. why don't you use a whitening toothpaste?
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a little over 40 minutes to go before the closing bell on this election day. we have a rally. the dow up 78 points off the highs of the session and off the lows of the session. we were negative earlier this morning. s&p going strong up about 0.4 and the nasdaq is doing the best of the bunch up a little more than half a percent. it is being led by rate sensitive sectors like utilities, telecom and consumer staples. >> even though yields are going up. >> let's get to other moovs we
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have. plunging on the back of disappointing quarterly results. valeant cut the full year forecast after signaling the turn around could take longer and the drug maker disclosed it received a warning letter relating to inspection at manufacturing facility. that stock down 22% right now. cvs falling on disappointing outlooks for this year and next. the drugstore chain blames slowing prescription growth and loss of contracts to rivals for the decline. that stock down almost 12%. joining us as we continue on this election day to canvas opinion out there on the phone is billionaire ken langone. also an outspoken trump supporter. good to hear from you. how are you doing? >> how are you? >> good. are -- do you feel the angst and
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exhaustion that everybody else does about this campaign. are you glad this thing is over? >> i'm relieved, not exhausted. all of this campaign talk got to address it and the world is not waiting for us. the good thing is it is over. they have to address the many problems. we need to deal with everyone of them. we need to worry about deflation. we need to worry about pension funds that cannot be funded anymore. we need to worry about the deficit. you can go on and on and on. they both wanted the job badly. whichever one wins you got it. >> did you hear david tepor talking yesterday by any chance? >> yes, i did.
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>> so he talked a lot about whom he was backing, how he is a republican and voting republican down ticket. how he has some hesitations when it comes to donald trump. we will play this for you in case you missed it what david tepor said about donald trump. >> truare you worried about -- >> i got to tell you, during the financial crisis, during sandy not one dime, not one dime. i know this first-hand. this is fact. not one dime to one major food bank or major pantry in jersey during sandy. the sandy benefit, not one dime. not one dime. >> i wanted to ask you about it. you are one of the best-known philanthropists in new york.
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i pass the center nearly every day. do you consider donald trump a charitable person? if not is that a problem for you? >> david tepor is a good friend of mine. i don't comment on what other people do with their money. it's none of my business. i know why my wife and i support our charities and why we do what we do with our wealth. it's not for me to say what someone else should do with theirs. i have never been involved with donald in any fill anthropic activity. i don't know what he does. more importantly, it's none of my business. >> the country would want to know. his wife has been introducing him as a very generous businessman. do you care about his business
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record? do you think he has been a good business man? >> hold on. the fact that somebody may be philanthropic doesn't mean they can run the country. that is unrelated. >>. >> i know a lot of people in business who are not forthcoming with their good fortune but are great business people. i'm not doing a measure of what they do philanthropically but for what they can do for my investment. they are unrelated. >> let me go back to the other point you made about the problems that our country faces economically and what needs to be on the to-do list for the next president no matter who it is. i think you would acknowledge it is pretty clear how divided our country is and it shows in the makeup politically of congress,
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for example. that we are not likely to get a democrat sweep in the house and the senate here. how is it possible for any president no matter who it is to get all of that work done when it is likely we see a continuation of grid lock coming out of washington, d.c.? >> where there is a will there is a way. if these people who aspire to govern us to be representatives in government, it these 350e78 who work like hell to get these jobs don't understand then you are going to continue to have the anger of the american people. i can tell you this and purely projection on my part. if the next four years are as bad as the last 16 years we're going to have a new president. the one good thing about our democracy is throw the rascals out. to me you govern for one of two reasons because you want to govern or because you want the power. i hope we have people who want
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to govern and get things done. look at the tragedy of public education in america today. just look at it. to me, one of the most profound ballot issues today and i supported it, this referendum in massachusetts for more charter schools. >> right. >> i am dumbfounded. i am absolutely dumbfounded that the naacp would come out in opposition to more charter schools. i don't get it. you want to talk about income inequality, a good step towards income equality is to give the kids the equipment they need to be competitive in a very competitive world. how do you do that? by giving them the basics of a good education to start with. that's where it begins.
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>> what else do you think is important as the next president faces a litany of economic problems that are not easy to fix? >> as long as the american people don't understand it needs to be fixed it will be fixed. entitlements. we must -- 71% of our federal budget is now entitlements. how in the hell do you cut your budget deficit if you are going to work on only 29% and let 71% continue to grow? >> that plays into my previous question. look at what happened to george w. bush when he tried to reform social security. we had a less divided government at that time. now you have it almost 50/50 in both houses of congress. are you likely to get any movement on any of the entitlements out there? >> i know one thing, you are not likely to get any movement our
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leaders don't have the courage to lead us in that direction. forget about political persuasion or third rail of politics. the fact of the matter is the grim reaper is not far. look at state pension funds. they are going to go broke because they are not able to generate. and investment returns where they are now. they are going to go broke because they are not going to be able to pay the obligations they have. look at the life insurance industry. how can you sell life insurance when you have low rates of return? >> the numbers are there. the issue is which elected official is going to have the political courage to do what is right as opposed to do what is good for him to get reelected? in that regard i have the ultimate answer.
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term limits. when they know they have to go home after a while in their last term before they go home they will be a lot less worried about getting reelected because they can't get reelected. we have issues in america that need to be dealt with. the tragedy of this election cycle or the last two years i'm sick of it. i'm absolutely tired. and we have wasted two precious years when there are serious problems and issues that we have to address. >> we have to go at this point. i do hear the angst in your voice. appreciate it very much. >> the election could certainly shift the balance of power in the senate to the democrats. john harwood has been following that story with key races to watch. >> where there is a will there is a way for washington to do stuff but how much will you need and how hard it is to find that way is going to be determined in large part by what the makeup of
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the congress is. in the senate republicans now have a 54-46 edge. look at this map. it tells you how difficult it is going to be for democrats to take that away. they need to gain four seats. they go into the election with 46 either leaning their way. republicans have 47. that leaves seven tossup races in the middle. those are very close races. let's take a look at the map. we have races across the country. you have north carolina richard burr in a close race. you have pennsylvania. pat toomey is under threat. indiana is a tight race. you have races all of these are close enough that either side could win depending on turnout and the result of the presidential race. if hillary clinton is elected if she has a democratic senate that will make a big difference to send over to the house.
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what about the house? take a look at the bar on the house here. this shows how difficult it is going to be for democrats to win. they need to gain 30 seats to get a 218 majority. they only have 189 seats that look to be safely in their favor. republicans have got a much larger group, 227. democrats have to take away a bunch of these seats that are either leaning or likely going to republicans. very tall order. they have to lead in the so-called generic ballot question. it's not a large enough lead to suggest that they are going to be able to do that. so odds are favoring hillary clinton in the presidency. they are strongly favoring republicans to hold the house and the senate is a much closer call. democrats maybe with a slight edge but we are going to have to count the votes tonight, guys.
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>> the suspense. looks like stocks are holding on to their gains for the session. the dow is up about 87 points. s&p is up half a percent. the nasdaq up 0.6. travelers and caterpillar are leading the dow. >> we have more heavy hitters. we have jeremy siegel joining us. and we will take you to voting locations across the country. kelly evans will give us a preview of tonight's special coverage here on cnbc, as well. stay tuned. is happening before our eyes. shift in human history sixty to seventy million people are moving to cities every year. at pgim we help investors see the implications of long term megatrends like the prime time of urban expansion,
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tonight cnbc is paking an unprecedented effort to cover the election and the impact on your investments. kelly evans joins us with a special behind the scenes look getting ready for tonight. >> hello bill and sarah. i am here in the studio which is in the midst of a transformation. we have a big set behind me. that is going to be moving into the middle here while we leverage not only people on set, me, carl, michelle and a bunch of guests for you starting in just a couple hours time. let me show you what is happening here. more than 100 sources of information coming from nbc
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affiliates and our reporters. the whole idea is cnbc will change the channel for you so you don't have to do too much work. you get the sense of the scope. live shots of headquarters from hillary clinton and donald trump. we will have the latest action from some of those key senate races whether there is a concession speech, if there are issues about the voting. how late will polls be open? contentions about fraud, things like that. we will take you wherever that is happening across the country. so there is still a lot of work to do over the next couple of hours but we look forward to bringing that all to you tonight. >> it is all very exciting. what are you hearing now on what the timing could be, how late this is going to go? >> here is the thing. as you guys know sometimes you think you know but you don't know until you get the count in. 270 votes is what you need. the reason why we say california is kind of a tell which is 11:00
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p.m. eastern because it has so many electoral votes. if something happens and the number is hit beforehand then you can kind of call it. it is unlikely but we will just have to see. >> we will. we'll see you later. break a leg. we'll see you next hour. >> yes. looking forward to it. >> cnbc special election coverage does begin at 7:00 p.m. eastern time. it's kind of our version of the red zone. >> moving from place to place. >> where the action is. time for a cnbc news update with sue herera. >> here is what is happening. vice president biden and his wife jill voting in wilmington, delaware earlier today. vice president shook hands with polling workers as he worked his way through the line and said he will remain active in politics even after he leaves office. announcing that bank notes will be withdrawn from circulation at midnight as part of a crack down
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on corruption. india is hammered by so-called black money which is undeclared, untaxed or under the table. google rolling out an update to g mail app and it features an undo send button. it will help prevent embarrassing e-mails. users will have an option to take back an e-mail. it is similar to an app available on android devices. >> hershey has come to the rescue of a kansas state university student who had his kit cat bar stolen by somebody who left a note saying he took it because he was hungry. the student put the picture on twitter. hershey gave the student bars which he handed out on campus. >> i'm missing my peanut butter m&ms. >> be careful. >> did you take it?
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>> are you trying to get them to send us 6,500? >> that does sound generous. >> 6,500 is a lot. >> he drove around campus throwing them out the window. >> good for him. 23 minutes left in the trading session here. starting to move higher. the dow is up 93 points. leading trader will join us and tell us what he is watching coming up next. >> i'll tell you what i'm watching. >> wait until you see this chart. >> arizona only voted democrat once since 1952. we'll take you there live to talk about the stakes coming up. your insurance company
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have you seen shares of hertz. they had to slash full year profit forecast after writing down value. downgraded to hold and cut price target to 24 from 59 but the market has been doing some of the work. down 25% now at $26 and change. >> made my way to the florida
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belt. kenny polcari joins me. >> a lot of it very short trading. guys that are in and out. long term asset managers are taking a different view of it. setting up for whatever the move could be. there are much lower bids and higher offers. they don't want to be caught in a move that happened. they are preparing ahead of time. if it is a brexit surprise they want to be there because they don't want it to happen and go what happened. so unlike brexit work caught everybody by surprised they want tobe prepared. the trading today and yesterday and today is much more short term. >> one place that you have to watch is the currency market. it is open during trading. one pair i want to shout out is the mexican peso versus the japanese yen. it is the ultimate election barometer versus ultimate safe haven. in asian trading the yen is heavily traded.
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the peso is much higher suggesting this could look like a hillary clinton win. that will be the -- >> the market i think is still betting that it will be a clinton win. i think the market is telling us a clinton win and republican congress which would be the best. >> will it rally further? >> if we have that combination i think the market rallies further. not necessarily tomorrow but in a couple of days absolutely. >> if not down side. if you get a trump number -- >> you have to decide. you have to make your bet right now. >> thank you. on the o'neil securities. you got that? >> i took copious notes. thank you. 17 minutes left in the trading session with the dow up 98 points. there is a look at the battleground states for today's presidential election. arizona which has a history of
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going republican has become a democratic target. we'll find out live with a report from phoenix next. and later joined by larry lindsay to talk about how both political parties will be different after this election coming up. siness be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com.
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presidential is hoping to change the fortunes. consesza brewer joins us with more on that story. >> you know so both parties are closely watching turnout here. can they get latinos to turn out? can they get suburban women and
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what about the millennials. this is a state that only voted for a democrat for president once in almost 70 years. in 1996 bill clinton won arizona but it was the anomaly. this is an interesting state in terms of voter registration because a little more than a third are registered republican. a little less than a third are registered democrat. and then the biggest chunk of voters are independents. when we have seen early voting turn in 1.7 million ballots the majority are republican. 40% to 34% democrat and we are seeing just the rest of them as independent. the real question is if independents show up today to vote who will they vote for? they are being motivated by other propositions, raising the minimum wage here and legalizing marijuana. sheriff joe is up for reelection as is senator john mccain.
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we are at mccain headquarters where he is hoping to have a victory party. >> it is crazy to think that arizona is a battleground state. we are about 12 minutes to go before the closing bell. let's take a look at where we are on stocks. it is rally day. not as strong as yesterday. s&p closes up more than 2%. it is stronger by about 0.6. nasdaq up 0.75%. >> our next guest says one outcome for the market is certain no matter who wins. he'll explain what he means when we come back.
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about eight minutes left. joining us on the floor of the new york stock exchange michael bapus. so many people handicapping the market beyond the election. >> i think a lot of this is short term and people are going to be able to refocus their attention back on the markets and the health of the economy. this is going to be just like the brexit which was a frenzy and then went away. a lot of our attention is
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focussed on the long term. i think everybody will be able to refocus attention back to the economy and health of the markets and to growth in 2017. >> no matter who wins the election. >> no matter who wins the election. >> doesn't that change your economic outlook. >> short term it will change the volatility. i don't this go it changes anything long term. three months it will change something. hillary is more the incumbent, more safety. trump would be something unique and different than we have ever had. short term it will effect it. >> what do you like right now? >> we like technology. i think we are in one of the largest technology booms that we have forgotten about. >> that is a big category. >> it only lasted 15, 20 years. i think they are becoming a lot cheaper. >> do you like the cloud? the social media platforms? >> i think social media platforms. i like the big name companies like cisco, like other companies who have been sitting on cash
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for so long looking for mergers and acquisitions to drive growth. >> not to bring it back to politics but this is election day. what about health care and financials? >> health care and financials are going to be affected one way or the other. financials are really cheap. they have been beaten down for so long. i think health care, affordable health care pending one result if hillary gets in will probably be the letter place to be. >> you are not worried about a crack down on drug pricing? >> i would stay more towards technology and oil and gas. i think oil and gas is the place to be. we have exported natural gas for the last five or six months. you will see it grow five fold by 2040. >> i always say this i don't know how you do what you do but good luck. thank you. good to see you. >> we'll take a quick break and
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come back with the closing count down. >> more on today's vote and what it means for the economy with two men who know. david stockman and former chairman of the council of economic advisers under president obama. you're watching cnbc, first in business worldwide. matters. to win, eved both on the track and thousands of miles away. with the help of at&t, red bull racing can share critical information about every inch of the car from virtually anywhere. brakes are getting warm. confirmed, daniel you need to cool your brakes. understood, brake bias back 2 clicks. giving them the agility to have speed & precision. because no one knows & like at&t.
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coming on the last two minutes of trade, bob pisani joins me for the closing count down on this election day. some interesting moves for the market but as we were just discussing during the break they stayed within a pretty narrow trading range. >> all of the excitement. it has been a fairly normal day. i would note that some of the market barometers, stocks moved up in a fairly broad rally. gold dropped and mexican peso rallied. there is continuation of what we saw yesterday. >> yields always continue to move higher. we were up to i think about one-month high. that was the case for the note. two week high for the 30 year. we were 187. you mentioned the peso. i have to show this chart under
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contractual obligation with sara. there is the mexican peso. >> that flipped here. this is the dollar/peso. i know this is confusing. >> one thing i like to mention is natural gas had a big drop today. those of you on the east coast we have had i wouldn't call it a heat wave. >> just nice out. >> all the way down into the south it is unusually warm. all of the names were all down. you can see 6%. we are getting things going on in the markets. tomorrow we will have a new day and new things to talk about.
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>> up 66 on the dow as we head towards the close right now. stay tuned as we continue. >> welcome to "closing bell." i'm s i'm -- on wall street a rally day. the dow finishing off of session highs about as high as 140 earlier. the dow closing up about 72.5 points. s&p up eight or 0.4% and the nasdaq up about half a percent. put this on top of yesterday's rally and it is the best two-day gain since back in june.
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we are just three hours away from the first round of polls closing. we will continue to get the latest for you on the ground in key battle ground states from pennsylvania to colorado. what election outcome could be best? former chairman of the council under president obama and former omb director under president reagan join us to discuss coming up. first let's talk about the markets. joining us is cnbc pro columnist michael santoli. and for more on today's market action we are joined by fast money trader guy adami. mike, where are we? yesterday's rally on top of today's. what does that signal about what happens tomorrow? >> i think the market has obviously been incrementally
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taking back some of the losses of the prior nine-day losing streak when it looks to be in more doubt. you can see we are matching right up. i think thearket is pricing in what the probability suggests is the outcome. we are basically trading where we were october 11. we thought we were in this range and nothing was going to disturb it. i think we are back there and probably if it goes as the market expects we have another rally attempt tomorrow. >> in terms of politics before the fbi new letter to congress and the trump started surging again. >> there was a bit of a scare to get this trump shock. we are taking back that probability. >> i grew up believing while
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none of us knows what is going to happen that is until the brexit vote happened and the market missed the polls ahead of time. all bets are off. the level of complacency is at levels that they saw pre-brexit. you could have bought puts cheaply going into that and the same thing is playing itself out right now. i have no idea what is going to happen. as a flyer you would think the market would have placed a higher probability perhaps in terms of the options market on a potential trump win and subsequently the market. >> there is a reason we keep talking about brexit because it was a completely one off scenario. the markets got way ahead of the
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likely odds of the vote. >> so did the betting odds that didn't necessarily stack up with the polls which were suggesting that the race was going to be closer. you are usually pretty bullish on the market. what is your level of bullishness on this election day? >> well, obviously the election today is going to really dominate tomorrow. certainly they are expecting a clinton win. i think the stock market would like the gop to retain all of congress. i mean, the house looks pretty much at certainty. the senate is really up for grabs. i think they are fine with the grid lock of clinton as president and the gop holding congress. i remember 16 years ago we had clinton in the presidency and gop holding congress and the greatest bull market in history. it can't be that bad. >> jeremy, stand by. i get the point that wall street
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loves grid lock because you have less government intervention. how does mainstream take that and the anger and impact that could have on the economy going forward if we continue to have the same old same old out of washington? >> well, what trump has to decide if he does lose and he is not going to lose by much that is for sure if he does his campaign will go on and all eyes will be on it. i think the evolution of the gop is going to be fascinating. you know to watch after this election really no matter what the outcome is, but, you know, right now i don't this can all the laws have been passed by congress. we look at dodd-frank. we look at obama care which i think is going to blow up next year. a lot of these laws were not well crafted. i don't think congress getting together and making laws is
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always the best thing for the u.s. >> it feels like that is what the market is telling us. i am looking at leaders in today's session. utilities, consumer staples, telecom. >> you are going to explain that to me. you are the pro. >> i don't think you can really sort that out very well because things like financials were not among leadership groups. i don't think this was a huge risk on day. this wasn't people driving into the market and saying all clear. we are going nothing but higher from here. it was i think you can ratchet up the risk exposure to stocks because we think this election will go the way we have been anticipating. >> they definitely did lift. >> you have been known to differ with jeremy on the market view. taken the other side of the trade he likes the market no matter who wins the election. what about you? >> i have been skeptical for
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quite some time. i have also said for a long time that just because i'm skeptical doesn't mean the market can't continue to go higher. i do think earnings matter. we don't talk about whether good news or bad news is the potential for the fed to move in december and the wildcard that that brings to the market, as well. dollar continues to rally. does the dollar continue to rally with the fed rate hike that puts tremendous head winds in my opinion on u.s. multinationals is something nobody has put up. here is the way i handicap it. a hillary clinton win and a donald trump concession speech very bullish tomorrow. trump win outright not good for the market. and what could be potentially really devastating is a clinton win and no trump concession speech and you get acromoin. that could be dangerous for the market. >> professor siegel do you agree with the scenarios and risk
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factors? >> certainly, if trump pulls off an upset it will be a sharp down day tomorrow to say the least. i think that is going to be a buying opportunity. i do agree the fed is going to hike in december. that is going to be something the market has to contend with. i think earnings do matter, also. the guidance was rather iffy. i don't think we will have a big bull market even if we do have a clinton victory and the gop congress it won't mean that we have a rocket ship for the market for the rest of the year. there are uncertainties that are facing it. >> what do you think? >> i think i'm with that general tone that there is no reason to think that the market -- the amount of defensively and protective hedging that has happened has to be worked off in some way if we get the expected outcome. and that is why i do think the market got oversold enough to get a rally.
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earnings have been better than expected and the estimate cuts less than usual for this point in the cycle. it seems to me there is room for further rally back up towards the old highs if not just something that is really kind of rip-roaring into next year. >> regardless of who wins the presidential election there will be a big celebration in new york city toonlt because that is where both of the major presidential candidates will be holding their watch parties. eamon javers is at hillary clinton's party at the center in manhattan. >> you're absolutely right. it is going to be a grand new york city finale to election 2016 tonight here in manhattan no matter who wins the victory party will be here in the city of new york. we saw hillary clinton voting in new york. she voted along with former president bill clinton early this morning. later in the morning we saw donald trump voting at a public school polling place here in
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manhattan. at that we saw a little bit of a disturbance of protesters early on. some boos for donald trump as he went to vote and a smaller group cheering him along as he went to vote at his polling place today. we are standing outside the center here in manhattan. that is where hillary clinton will be tonight for what her aides hope will be the victory party. i want to give you a slice of life. take a look here. this is the massive hudson yards development to my left and your right here. the guys on this crane have been going up and down with a large container bucket and painted five big letters on it. trump in all day long sending their message. that is just over where hillary clinton's victory party is tonight. we have trump supporters over here. we will have a lot of hillary clinton supporters back here. we'll see where all of this ends up tonight. >> a lot of construction there hudson yards.
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>> right above. let's head across town where donald trump will be and where scott is standing by. what are you seeing there? >> this room is certainly ready for a party tonight. whether there will be one remains to be seen. they are expecting 1,200 guests when the doors open at 6:30. as for voting mr. trump was out around 1130 a.m. along side his wife, daughter casting his ballot. one of the big questions going into tonight is whether mr. trump will accept the result of the election should he lose. remember at the final debate he said he was going to leave all of us in suspense. he was noncommittal today during an interview with another news outlet. the trump campaign did file a lawsuit in nevada state court over early voting, an order that was denied just around 30 minutes ago. it claimed that the polls were
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kept open longer than they should have been. a judge denying that order just within the last half an hour. mr. trump has said today that he has heard of voting irregularities. we are told the trump family will be watching the evening from the tower just a few blocks from here and will make their way to the hilton for what they hope is a victory party. >> we'll see you then. jeremy, before we let you go there is a wisdom that after the election monetary policy will take something of a back seat to fiscal policy, that that is where a lot of growth will come from in the economy. do you believe that and do you think the election will have an impact? >> first of all, the first thing that after the election is the fed rate hike in december, as i said i'm pretty sure that is almost a slam dunk especially if hillary wins because there won't
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be that volatility from that source. i'm not a fan that thinks infrastructure spending will cause the boom in the future. there are a lot of things holding back gdp. job creation has been great. productivity growth and source of those problems go back to our educational system, not training people for the right jobs, too much regulation, too much red tape. i mean, we can go on and on and that will take a long time to fix. >> always good to see you. thank you. appreciate it. >> we have an earnings alert on trip adviser. seema mody. >> a big move here. trip advisers down about 11% after the company reported mixed set of earnings. one cent beat on bottom line. revenue missing expectations. >> thank you very much.
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>> guy, do you have a comment on this one? >> of course, i have a comment. the rhetorical question, my comment is that just shows you what a strong quarter price line had yesterday. rising tide does not let go of votes in this category and price line continues to be the clear winner. the have and the have nots, that's my comment to you. one more comment. rangers play hockey tonight at 7:00. normally i would be locked in. i will be watching cnbc because that is what is going on from wire to wire coverage. >> i have a friend going to the rangers game. he is so stunned that he got such great seats at such a cheap price. i don't have the heart to tell him why that is. >> he should know. >> i think he knows. >> thank you. big move on trip adviser. >> down 12% right now. be sure to stick around
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coming up at fast money 5 p.m. they have pull coverage of the historic election day plus three most important indicators you have to be watching tonight to be what will happen with the market tomorrow. we are less than three hours away from the first of the presidential polls to be closing. when we come back we will tell you how voting is shaping up in a key battleground state and talk about which candidate is better for the economy. >> and what will the nation's two big political parties look like after today's election? larry lindsey weighing in on the futures of both parties later on "closing bell.".." you're watching cnbc, first in business worldwide..
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pennsylvania has not gone for republican presidential nominee since back in 1988. with the race tightening here could donald trump turn this blue state red? in the suburbs of philadelphia taking a closer look. >> that's right. we are in chester county and the voters going to the polls could play a critical role in
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determining who gets the 20 electoral votes because this is a swing county. as a state pennsylvania has gone democratic in the last seven out of ten presidential contests. the candidates blanketed the state. focussing on workers in western and northeastern pennsylvania who have been effected by loss of manufacturing and coal mining jobs while clinton visited the state 20 times including a star studded concert. she is focussed on the blue urban areas of the state. both are hoping to win litical suburbs. the voters we talked to seemed split. >> hillary. could no way ever vote for somebody as disgusting as donald trump. it's a no brainer to me. >> it's more just about the issues, the way they lineup. i think we are ready for a
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different election. i stelt that the issues presented and people were more aligned in the direction i want the country to go in. >> 4.2 million are democrats. the holz open until 8 p.m. >> we'll be checking back in pennsylvania. the race is close in pennsylvania and some other states in part because of differing views on how the economy is doing right now. so we asked the question which candidate would improve the economy the most. >> we have two sides here. and informal adviser to the clinton campaign. we have here david stockman, former director of the office of management and budget and author of the new book called
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"trumped." and michael santoli. you warned the national nightmare starts wednesday morning. you make a lot of dire predictions. is that predicated on who gets elected president? >> no. tonight is irrelevant. the nightmare is going to happen either way. if trump wins he will never govern the washington wall street establishment won't allow it. if hillary wins i think the recount starts the next morning. i am talking about ten house committees with subpoena power digging into 55,000 wiki leaks and sleeted e-mails which will show up somewhere. so there will be total grid lock. you will have a frozen government. there will be no debt ceiling increase and shutdown after
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shutdown. there will be no handoff of the baton as you were talking about before from a fed who is out of dry powder. so therefore when the economy hits the skids and we are not going to go 138 months without a recession. that is what would happen. there would be no bailout. wall street will crash and we will see this dream world, this huge bubble that we have been living in come crashing down. that is where we are headed. >> david is not the only one that talks about grid lock in washington continuing if you believe the way the market has been trading it is rooting for it. if your candidate, if hillary does been how can she get any growth initiatives going when she will have to get it through congress to begin with? >> i'm not saying there is a down side. what david described is a little darker than that perhaps.
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i think you saw the markets really get into a little bit of a panic when it looked like donald trump was going to gain. now that he seems to be fading a little they are coming back around. i think there will be grid lock probably but if donald trump is defeated by a large margin, let's say as opposed to something very close the history in the u.s. tends to suggest that we don't really pay that close of attention to the losers after they have lost. and so i have no doubt donald trump is going to complain about lines in nevada or whatever else that he says was rigged. but once you lose the super bowl i don't think anybody cares what your opinion was of the referee. and i think that if he loses big there might be a window in which some of the republicans, the
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traditional republicans would be open to doing dealing with then president clinton. i'm hopeful that at least for a little bit we can get out of the grid lock. >> i think this time is different. they let the cat out of the bag. the establishment should have never allowed trump to reach this point. he will get 55 million votes. >> they couldn't stop him. >> let me finish. maybe 15 or 20 million of them are republican regulars who would vote for mickey mouse. the rest of them will be outraged if he loses that have been taught by this campaign that the clintons are the biggest crime family in american history whether that is accurate or not it will be believed there will be a vendetta from now until as far as the eye can see as a result of this campaign. this is not politics as usual. this is a water shed moment and
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we're going to be in a political crisis, a constitutional crisis, a financial crisis like we have never had before. >> which plays to my point earlier. >> well, i hope that it doesn't come to that. all i would say is people stated positions before the votes take place often have a tendency to change once it becomes clear that the country does not agree with them. i would refer you back to previous government shutdowns where republicans felt like they had the uphand and said we are going to ram it down barack obama or bill clinton's throat. once the government shut down rapidly the american people turned on republicans and you saw the renes back away from their most strident position. i don't think the fact that they are right now that there is a
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core group -- means they will be gung ho trump supporters. >> a lot of angry people. austin, thank you. >> good to see you. >> donald trump has been calling on supporters to act as election observers which gets to the point here. critics are calling that voter intimidation tactics. we will look at exactly what that is and what is and isn't allowed to happen at the polls. >> be sure to tune in to special election night coverage beginning at 7:00 p.m. eastern time. kelly evans is co-hosting and the coverage and she joins us next with a preview of what you can expect. very cool technology using tonight. think red zone. we'll get to that coming up in just a moment.
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we are going to change the channel for you. there is no need for you to do that. there is a lot that is going on back here to make sure that is going on. the internal communication coordination system across all nbc properties to make sure that the calls we are making are exactly what they should be and that everybody is on the same page. as you can see there is a bunch of different stuff going into this. show them the cheat sheet and in some cases low tech. working to make sure we are ready to go once it is time to go live with all of this coverage tonight. we talked about watching the markets. we talked about all of the various scenarios that participants have in terms of the outcome. in many ways we haven't begun yet. >> so we have been comparing this to the sort of red zone coverage of multiple football games. there are only six or eight gamds going on. you probably have dozens of places to probably deploy to.
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who is making the calls? that is all you, right? >> i'm supposed to know the analogies. there are 100 plus different things to pick from and probably that many people trying to direct us. i guess i feel a little like i have to do my best tom brady impression. >> we think we have a -- we can figure out where the battleground states will be and when they close whether or not we are able to figure out the results. you always have that unpredictable moment that you are going to have to go to without a quick notice here, right? >> exactly. by the way, it sounds a lot like earnings season. the interesting thing in terms of timing so everybody is aware is that some of the timing is changing a little bit because in some states there has been talk of whether to extend things when things have come up.
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a lot of it is being contested. there will be more surprises tonight than this well thought out plan that we have and that includes whether half of the systems will be up and running. >> more swing states than typical in an election. looking forward to it. >> you are in good hands with that executive producer. >> i like it in here. we have sandy. don't get too comfortable. don't get comfortable. you will come back here tomorrow. >> another theme we have been watching, fears of voter intimidation have been a big story in recent weeks so much so that the justice department has more than 500 election monitors on the ground in 28 different states. our andrea day joins us for details on what qualifies as voter intimidation and what your rights are at the polls. >> let's talk about voter intimidation. if i threaten you and try to keep you from voting at all or
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try to get you to vote for someone i like that is wrong and that is illegal. that is one of the many reasons why doj has monitors in place right now. here is what you need to know. campaigning naut allowed inside a polling location. it may be permitted outside but how far away depends on the state. the police are allowed to be inside polling place in certain states. if you feel intimidated you should report it to them. it is a federal law that voters with disabilities may get help voting fraup a person they choose. if someone is registered to vote they should be allowed to vote. as a voter as long as you are in line by the location's closing time, that varies state to state, that you must be allowed to cast your vote. for you are voting by mail as long as it is post marked by the date set bite your state that vote will count. some are things like blocking
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entrance, asking for a photo i.d. when it is not needed. the government has a team of lawyers standing by to handle any complaints you might have. that number to call if you have issues is 800-253-3931. back to you. >> we were having a conversation earlier today. some people at cnbc when they went to vote were asked for a photo i.d. others have not been. is that state by state? >> that is state by state. you can check with your state to figure out what you need to bring with you. >> thank you. >> thanks. time for a cnbc news update with sue herera. >> here is what is happening this hour. senator bernie sanders casting his ballot for president in his home state of vermont. he and his wife jane voting in burlington. he said he is hoping for a very large voter turnout. a steady stream of voters
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visiting the cemetery where susan b. anthony is buried paying their respects to the woman leader on election day. the cemetery has extended visiting hours today to allow for influx of visitors who are putting their i cast my vote sticker on their tomb. the affected employee was working with pigs who were infected when a split in the seam of his suit was noticed. that person is in self isolation and will be monitored. british fans of chocolate bars are outraged after a cost cutting move designed to space out jagged peaks. the scale down version prompted by higher commodity prices. it just doesn't look the same. i took a look at the footage. what can i say? >> this is what happens when
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you -- >> the currency. the pound plunged so far so fast that the consumer products companies have to responsible. they can raise prices or they can shrink candy bars. >> they have had a huge increase in cocoa prices. >> this is about the currencies. >> see if there is remorse here. >> thank you, sue. all about the currency. the democratic and republican parties have both faced upheaval in their own ranks. former national economic council director will tell us whether these parties could look drastically different in the not too distant future. then we head west to nevada and colorado. nevada judge just rejected a trump campaign voter lawsuit there. we will have details and more coming up. alpha seems more elusive today. is it because so many go after it the same way?
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welcome back. the rally of yesterday continued today although not nearly as powerful. industrial average had been up about 140 points at the peak. s&p up 8 points.
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the nasdaq was the better performer with a gain of about half a percent. >> if you add the two together it is best two-day rally since end of june. a few hours away from the first round of pole closings. our next guest is calling for a clinton win but feels the count could go well into tomorrow morning. >> more on that and the future of both political parties. we will find out how to discuss that in four minutes. joining is former fed governor president and ceo of the lindsey group. thank you for joining us. >> thanks for having me. >> so finally an end to this campaign that left people exhausted and full of angst. how do you think this thing plays out? how do you read the electorate in the united states right now? >> i think tonight really is too close to call. our estimate is anywhere from trump plus one to clinton plus three. put a gun to our heads we would
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say she wins with 1.7 million vote margin. that is pretty close. probably 288 electoral votes. going to be a very close election. what is surprising is the number of states that are highly competitive. some haven't been competitive in a long time. and so that is why i think we are going to be in for a long night. ooirng we are going to have to wait and see how each state comes in with its returns. >> how do you build your models? what are you seeing differently than the 538 model which has clinton at 70% and some other trackers? >> thats rrb not a bad number for the odds. the way we are doing it tonight is we have picked roughly 100 key counties around the country dominated by early poll closing states. those counties are representative of other counties around the country. so for example indiana and
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kentucky will be the first to close. now, they are probably both going to vote for trump. the question is by what margin and by what margin in each county. from that we hope to extrapolate to other states. indiana and kentucky should give us a pretty good idea of what is going to happen in ohio. if the margin is significant enough maybe in pennsylvania, too. and that is how we are building the model tonight. >> i think beyond that now to the future of the republican party and the democratic party i think of the article, the cover story in the "new york times," a correspondent outside the country came back after being away for 13 years and travelled the country for a month. he found a very different country. a lot of anger, what he called a cold civil war here in this country. how do you -- that is why i was asking before how do you read the electorate and how it is going to shape the political parties in the future?
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>> the public is angry and has every right to be. we have had bad government. we have gone through three bubbles in the last quarter century. we were hoping for better race relations. every poll shows race relations are worse than ten years ago. we have had the worst economic performance of any administration. productivity is down to 0. we are not exactly succeeding in the foreign policy realm. public is angry and frustrated. now, that doesn't mean we know who has the answer to that but there is every reason for the public to be angry. it's the reason why senator from vermont got 45% against the royal family of the democratic party and why donald trump is the republican nominee. it's the people are angry and we don't have a system yet that can allow that anger to be expressed easily. >> you said three bubbles in the
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last 25 years. does that mean we are in one right now as we try to count back? >> absolutely. we are in the third one right now. i think it is mostly in the credit space. i think bond yields are unsustainbly low. and the fed will admit that. monetary policy was driven explicitly to drive up asset prices mainly by the purchase of the bonds. so they have won. asset prices are much higher. they didn't quite get the results they wanted. this is a third bubble and one that was created deliberately and people are frustrated as a result. the distributional consequences of easy money are quite different from what we were taught in school. people with assets did very well. others did not. and that's feeding in on the anger, as well. >> populism. >> the electoral map. i think that is one word for it.
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the republican party is now becoming more and more the party of the working class, the people who are excluded from washington, the democrat party is more the party of the establishment. so we have to see tonight all the establishment holds on or whether the people in the country throw them out. it could go either way. it's going to be a very interesting night. whatever happens i think we will see a change in american politics. >> always good to see you. thank you. >> thanks. my pleasure. >> clinton and trump are running a tight race in colorado. that state has historically wavered between red and blue over the years. republicans have taken the state in seven of the last ten elections. who will triumph this cycle? >> early numbers show a jump in hispanic voters that may give clinton the lead in states like florida and nevada. donald trump's campaign is calling foul on some of those vote counts in nevada. we will be there live with this
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story next. jane wells in las vegas. what powers the digital world. communication. that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep
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so polls ennevada open another five hours already donald trump's campaign filed an election lawsuit against one county sp a judge has rejected that suit.
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will more follow? jane wells is in las vegas with the latest details. a busy day already. >> no kidding. and exciting. the biggest county, the state clark county trump went to court suing the registrar alleging irregulari irregularities. trump's attorney claimed there were four voting sites that may have stayed open longer to accommodate people who showed up after the cutoff. they want those potential alleged irregular ballots segregated and want to interview poll workers. the judge denied the writ saying trump's attorney had not exhausted all the administrative procedures first like going to the secretary of state and instead came straight to court. >> aren't we missing like about seven steps in this process? there is no notice to the secretary of state or anybody else in the election violation
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report that they are being challenged. there is somebody who said they saw them hand something within 100 feet of the polling place. why didn't she get notice? >> it has nothing to >> okay. well, that got a little heated. i talked to the state gop, which said, lawsuits like this are not uncommon during an election. the democrats filed over early voting, also rejected. expect more of them. as for today's voting, he says there is no problem so far. but figures everyone around the 2000 election is, quote, dusting off their playbooks. and i just want to show one more thing about vegas. you cannot bet on the election in las vegas. though people try. we went to the largest sports book at the west gate, where i'm told somebody every hour is coming up, trying to bet. although they wouldn't tell me which side they're betting. and, in fact, at caesar's palace, just showing election coverage, even though you can't bet on it. meantime, i'm having a beautiful
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time here at the venetian. >> it looks like a lovely day. we're looking back on the history of nevada. looks like a good track record for the state in terms of predicting and voting for the winner for the presidential race. picked obama the last two. president bush before that. how tight are the polls at this point? >> reporter: well, it is in the margin of error a tossup some in some preelection polling. we'll have to see how the estimates play out. in early voting, there were more democrats than republicans voting. of course w we don't know what the votes were. this is, the one swing state that could go in trump's favor. and by the way, harry reid's seat up for grabs. that's also considered too close to call. it could go gop. back to you. >> all right. thank you, jane. >> thanks, jane. >> good to have her back, saying back to you. i love that. to another battleground state next. watching colorado. early voting there shows a very tight race between trump and
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clinton. we'll take you there for the latest from the centennial state, next. and don't forget, tune in for our special election night coverage here on cnbc. begins at 7:00 p.m. eastern time. this year, we will be leveraging the massive news gathering footprint of cnbc and the entire nbc family. close to 100 sources of live news that we will be monitoring and we have reporters stationed across the country in nine different battleground states. that's all tonight. so stay tuned. ♪ ♪ is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. (bing)
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a minimum wage increase is on four different ballots today, including in colorado with nine electoral votes at stake there
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in the presidential race. let's get the latest from the centennial state. kayla tausche in boulder with the feel on the ground there. >> bill, this is one state where perhaps the post office is as important as the polling stations when it comes to the election outcome, because as of just moments ago, we got data that 2.4 million votes have been cast either by the mail or they received the ballot through the mail, and then dropped it off at a polling station. that is nearly three quarters of the expected votes to be cast. and while most of those votes occurred from people who are either registered with the republican or democratic party, it's worth noting not all voters are voting along party lines this year. >> the republicans get late momentum. so that is giving some in the gop a little bit of sense of faith about this state. the result of today's turnout, though, will largely hinge on those unaffiliated voters, who are not religion starred with a
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party, and then the all-important millennials. >> 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. >> reporter: millennials are now 30% of the colorado eligible voting population. 30% of the u.s. voting population. but they're voting on issues. half of them do not identify with the political party. one of those issues that is expected to pass though, guys, you mentioned it, it's minimum wage. it would raise to $12 an hour by 2020. and that is widely expected to pass. those nine electoral votes strategists say is not enough to cost the candidate but enough to push one of them over the top. we'll see what happens tonight. >> indeed. >> thank you, kayla tausche reporting from colorado. so final thought. kayla mentioned millennials. i think the gender gap is going to be interesting as an issue in this campaign, certainly the surge that's been reported in
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latino voting and whether that could turn this election. >> and so much early voting. so i think the post game is going to be fascinating even if the outcome is what we think it's going to be. because every model has to be kind of recast a little bit. >> not to mention money in politics. she's outspent him in these battleground states by 2-1. >> i cannot wait to see how the market responds to this tomorrow. >> yeah. >> should be fascinating. >> you know where to look first. >> a test of just how defensive everyone got beforehand. >> i agree. that's it. see you later tonight. more election coverage and we'll be back tomorrow. "fast money" begins after this short break. see you tomorrow. rsuit of healt. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healthier
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morgan stanley breaking news. america takes to the polls across the country. voters are still lining up to cast these ballots in this historic and unpredictable election. we are here tonight to tell you what that means for your money. to do that, we've got full team coverage with reporters in all of the battleground states across the country, ready to bring you the latest breaking details. and we start with where hillary clinton and donald trump will end what seemed like the longest campaign ever. eamon javers inside theoffette center in new york city where hillary clinton could be celebrating a win later tonight. and scott

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