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tv   Bloomberg Markets European Close  Bloomberg  November 9, 2016 11:00am-12:01pm EST

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november night, post election, i am vonnie quinn. close ofuropean bloomberg markets. we are live in brussels and moscow this hour. hillary clinton has left from her place to speak to her supporters. let's look at how things are favoring in europe. mark: 30 minutes until the end of the wednesday session, the stoxx 600 was down 2.4%, the biggest fall since june 27. look at the rebound up by 8/10 of 1%, led by basic resources, construction, and health-care stocks. drilling down into the health care performance, 3.9%, that is the gain we are seeing. these are the big gainers in just a handful of losers today. drugmakers like novo nordisk
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rising today after the trunk victory, removing concerns that clinton would push for price controls. this has risen the most since 2008. interestingly, glaxosmithkline said that pressure on drug prices in the u.s. will continue regardless of who wins the presidency. , is rebounding when ittwo-year low fell through 17 percent. basic resources rising on the assumption that more spending will happen in the infrastructure space, boosting demand for metals and helping mining companies. ramstad,he likes of
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benefiting from the earlier jump in the gold price. ram gold up as much as 10% earlier. a trump presidency could send boolean to almost $1400 an ounce llion tog to 20 -- bu almost $1400 an ounce according to 20 analysts. defense stocks could win as trump boosts spending on defense. he could increase spending on aircraft, ships, and troops benefiting many of the companies on the ftse 200 aerospace and defense index. julie, what has been the impact? julie: it is curiously muted and the major averages are very little changed with the dow s&ping 43, the data -- the
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and nasdaq down very slightly. if you look at the futures overnight to where we are now, you see this incredible climbing back to little change, but if you look under the hood of this market you will see some big moves. the imap on the bloomberg shows some large percentage moves, health care up 2%. utilities down 3%. if you look at 70% of stocks on the s&p 500 we have a move plus or minus 1% today. it is rare that we see that kind of move. i want to talk about health care in the u.s., a big slump in shares of hospital operators. if you aree saying going to repeal the affordable care act, what replaces it? a lot of uncertainty. he seems to be diminished risk on drug pricing.
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--eneron, seattle since seattle genetics benefiting. you have the dollar surging versus the peso by about 9% and implications for u.s. companies who do business south of the border. 13%,s city southern down constellation brands down 8%. these are companies that get a decent chunk of their revenue from mexico so a lot of concerns of the implications of this election outcome. vonnie: julie, thank you for that from the markets desk. mark: let's get global reaction to donald trump's stunning win over hillary clinton. we have a complete team coverage on the european close. -- with reaction from
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e.u. leaders. you, if i can start with theresa may asked about the special relationship between the u.k. and u.s., is it still in : yes. john one of the most important things to bear in mind as we have this whole controversy when obama came over and said if brexit happens then britain will go trump made itld big point that that would not be the case. on the face is not very bad news for theresa may. mark: we are no longer at the back. is a trump win good for brexiteers or good for the remaining camp? the: if you look at
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dynamics of the brexit negotiation, if you are taking a two-year view theresa may is going to have to make a lot of different deals with different countries and of trump carries through on his threat to cozy up to russia, you are going to see countries in eastern europe, perhaps a lot more prepared or happy to do deals with the u.k. in return for security guarantees and guarantees of the nato umbrella placed over countries of the baltics. she has an opportunity to play they security concerns in europe to her advantage. vonnie: i want to bring in and .ishard in brussels we had some comments from jean claude juncker after the results were out and they will not particularly. europe there has been a lukewarm message of congratulations because they know they are going to have to deal with this man.
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they might not like him and see him as a bit of a threat to the establishment, but they know he is going to be the man in charge. i will not come out straight away and say we do not want to have anything to do with you, but they realize there is this momentum growing that we saw with brexit against the e.u. and the things that you stands up for, liberal democracy, social security, free trade deals. i think they see trump is a real threat to that. they have come out today saying we are going to do business with you, we want the transatlantic alliance to continue but we are wary of where this might take us. nato andhe idea of that there is really no safety net, this idea that people are being voted out of office because electric are unhappy could continue to spread. with the is next
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referendum. what do you think e.u. leaders are thinking? the italiane got referendum in march. -- in december, the dutch election in march and elections in france and germany so they know by this time next year they could be gone. they see that populist momentum in the u.s. and worry it could be some kind of contagion to europe. you talk about nato, the danish prime minister has come out and said we have got to start spending more on defense. in all sorts of ways and different countries the trump effect is having an impact. mark: let's bring in tony halpin in moscow. putin's presence was acutely felt throughout the presidential campaign in many ways. he was the first to congratulate trump today. what sort of ties can we expect
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between the u.s. and russia, or between trump and? -- and 10? --putin. tony: russia believes they can forge a much warmer relationship with the u.s. than has been the case under obama. that will help them get out of the dead ended thing and in relation to sanctions over the ukraine, and allow them to forge a partnership with the u.s. in syria where they have been fighting the islamic state. the u.s. under obama has been accusing russia of propping up the assad regime. this is a new chapter of russian-american relations. issue, ithe ukraine have a chart showing the ukraine 29 bonds, shooting up the most in nine months.
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is it a valid concern that donald trump will be less willing than obama to protect ukraine from russian aggression? yes, i think the yields are up more than 80 basis points and the reason for that is that maybe people do believe that ukraine is now more vulnerable under a president trump fan under president obama. mr. trump has said he would recognizing russia's annexation of crimea and that could lead to the lifting of u.s. sanctions against russia. --putin's bruton economic aides says they expect just that. there is concern about the ongoing conflict in eastern ukraine and whether a trump administration is less willing than the obama administration to apply pressure on russia to withdraw its influence over that
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conflict, and to reach some kind of settlement. i think ukraine is very much concerned it will be more vulnerable and this could lead to an extreme increase in fighting. mark: tony, thanks a lot. john is still here. we have had all sorts of leaders across the globe comment on congratulate on his victory. what has been the tone among the global of the -- elite? john: i think they are cautious but the hind the scenes on the one level there are deep concerns about what the election means for the postwar liberal order that america was so strongly a part of. mark: who holds that torch now? is it merkel? john: some say merkel but she has her own election and populist insurgency at home.
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right now it does not really seem like there is one. mark: thank you very much, john. vonnie: it is time now to check on the bloomberg first word news. courtney donohoe is in the newsroom. trump hasdonald written a populist wave all the way to the white house, doing more than just beating hillary clinton. isscored an upset that likely to change americans agenda here and abroad. he captured muslim states and retained traditional republican strongholds. captured many states and retained traditional republican strongholds. mr. trump: we will deal fairly with everyone, everyone. all people and all other nations. we will seek common ground, not hostility. partnership, not conflict.
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will have aump republican-controlled congress to consider his agenda and nominations to the supreme court. republicans surprised democrats by holding on to the senate with at least 51 seats. races in new hampshire and louisiana have not been decided yet. republicans still have a substantial advantage in the house and there is a question of whether hard-line conservatives ost house speaker paul ryan. drop will discuss -- trump will discuss the transition with president obama tomorrow. global news 24 hours a day, powered by our 2600 journalists and analysts in more than 120 countries. i am courtney donohoe. this is bloomberg. vonnie: the market turmoil following donald trump's victory has eased somewhat. what can we expect for the future? .e will speak with edmund shing
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we will also hear from hillary clinton. this is bloomberg. ♪
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mark: live from london i am mark barton counting it down to the european close, just 14 minutes away. vonnie: what a session it has been. i am vonnie quinn. the initial market turmoil that followed donald trump's victory has eased but what can we expect in the weeks and months ahead? joining us is edmund shing at bnp paribas. how much do the overnight gyrations have to do with liquidity and how much were positioning of traders trying to wee a quick buck given that
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had 5-1 odds? i am sorry, we have to go straight to live speaker paul ryan. i spoke with presidential elect donald trump and congratulated him on his great victory. we talked about the work ahead of us and bringing this great country together. let me just say, this is the most incredible political feet i have seen in my lifetime. this is something you have heard me say time and again. seven out of 10 americans do not like the direction our country is going. many of our fellow citizens feel alienated and have lost faith in our core institutions. they do not feel hurt and they do not feel -- kurd and they do not feel represent -- heard and they do not feel represented but donald trump heard a voice nobody else did. he connected with people nobody else did.
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he turned politics on its head and now donald trump will lead a unified republican government. we will work hand in hand on a positive agenda to tackle this country's big challenges. i want to congratulate my friend mike pence, a good man and a principled conservative, and he will make a great vice president . i want to congratulate reince priebus. what he has done to rebuild our party is remarkable. i want to congratulate mitch mcconnell and our republican colleagues in the senate. i want to congratulate ron johnson, something we have worked so hard on his victory. we just spent four days country tong the unify all republicans to vote and that is what happened. i am immensely proud of the campaign that our house members and candidates ran.
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i want to congratulate greg walden and our entire house leadership team, what a phenomenal job. look at it this way. our house majority is bigger than expected. we won more seats than anyone expected and much of that is thanks to donald trump. he provided the kind of coattails that got a lot of people over the finish line so we could maintain our strong house and senate majorities. now we have important work to do. many months ago republicans in the house united around a bold agenda for this country that offers a better way forward, and will help us hit the ground running as we work with donald trump. we will honor the timeless privileges our country was founded on, freedom, free enterprise, consent of the government, and we will apply those to the problems of the day. this is the kind of unified republican government that we set out to deliver.
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there is no doubt our democracy can be very messy and we do remain a sharply divided country. but now as we do every four years, we have to work to heal the divisions of a long campaign. i think president-elect donald trump set the perfect tone last night for doing just this. i know president obama and secretary clinton are committed to bringing the country together. this needs to be a time of redemption, not recrimination. we all need to rededicate ourselves to making america great and a more perfect union. with that, let a take your questions. [indiscernible] some of your colleagues were critical of you that you did not embrace donald trump enough. is your relationship with the president elect and the conservatives in the house in tact? >> i think it is.
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i have spoken with donald twice in the last 18 hours, last night and this morning. i spoke to my friend mike pence twice as well and we are going to hit the ground running. we are very excited. when i say seven out of 10 americans do not like the direction the country is going, they just voted. i think what donald trump pulled off is an enormous political feet. he heard the voices that others were not hearing and he earned a mandate. now we have a unified republican government. if you listened to u.s. in the closing days of this campaign, we were making an appeal to our federal -- our citizens and republicans to unite. during any of your conversations with the president elect did he assure you he supports your speakership? >> we had great conversations on how we could work together to make this transition.
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yes, i'm very excited about our ability to go forward together. >> what do you think the voters nationwide who are concerned about president-elect trump's comments about women, [ indiscernible] >> look at these issues and the potential for our country. with direct dish look at the direction we have been going in the direction a united republican government can give you. 1984he first time since wisconsin's 10 electoral votes went to republicans. we did not think it could happen. donald trump turned it on its head and delivered the 10 electoral votes. he helped elect the strong majority in the senate and house. you are going to repeal and
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replace obamacare how soon and what is it going to look like? what do you say to those folks who do not feel like he is going to be their president? campaign whereh people believe they were pitching so hard for one side or another, this health care law is not a popular law. it is collapsing in its own way and so to your specific question, this congress, this house majority and senate majority has demonstrated improvement. the problem is, president obama vetoed it. now we have president trump coming and asking us to do that. with a unified republican government he can fix these problems. it is not just the health care law we can replace, because we have shown the willingness to do it. there are so many more things i'm excited about. think about the laid-off coworkers who see relief, the farmers in wisconsin being harassed by the epa, the rangers
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and the west being harassed by the interior department. there is relief coming. this is good for our country. this means we can left the oppressive weight of the regulatory state and restore the constitution. think about that conservative -- that the constitution for conservative judges. [indiscernible] ,s part of that i also wondered a lot of your republican house and senate candidates said they would be in check. what is the balance you will strike? to make sure that the government
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with mistakes.d >> i think our mistake is that we did not do the right thing at the right time and we did not seize the opportunity to present -- when it presented itself. the opportunity is to go big and bold and get things done for people of this country. there are different kinds of conservatives and republicans. the key is to not only unify and merge these approaches, but to also invite everyone else in the country to get us focused on our solutions. what i see here is great potential. what i see is with a unified government and not having this protracted, divided government that has been playing us for i see is the opportunity to get back to work for the american people. donald trump pulled off an amazing political feet. it helped us keep our majorities
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and showed the country that people do not like the direction we are going. we need to change direction and i'm excited that we in congress along with our nominee who is the presidential elect offered a clear and coherent agenda. that is the direction we are going to go and i'm excited about working with our president-elect and vice president-elect. vonnie: you're listening to house speaker paul ryan giving his first press conference since the presidential vote came in and was counted and we have a presidential elect. he is in wisconsin and talking about healing rifts in the party and the exciting feet that donald trump pulled off. on the left we are looking at the peninsula hotel and hillary clinton will be speaking to her supporters in just a few moments. we can see the rest of her campaign staff has been gathered as well.
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we are going to go back to house speaker paul ryan. >> clearly did not want the republicans to win. we have a very clear agenda. we believe in the principles that built this country, the constitution. we have an agenda to bring people back to work, we want accountability for the federal government. we want the federal government to respect the states. this is exciting so for those of you who are concerned, this is a time to unify and to heal. the president-elect engaged the right tone last night to bring people together. [indiscernible] it is clear you intend to run for speaker. donald trump thrill his whole campaign -- -- throughout his whole campaign -- vonnie: you have been listening to speaker paul ryan and we are waiting for hillary clinton to speak.
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her campaign has gathered in the auditorium and we will return to paul ryan. hitting the ground running and we are very excited about working with him to make sure that is the case. wondering if you were [ indiscernible] >> i will not get into the reconciliation issues, that is to be predetermined. i want to sit down with our workdential elect and what with like to achieve in the lame-duck. this is something we will have to plan on this transition, i have got to tell you, having been involved in these lame ducks before it is excited to go into a lame-duck where we have a republican president following. we are going to coordinate with our president-elect on what we can achieve during the
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lame-duck. thank you, everybody. vonnie: that was house speaker paul ryan in wisconsin. a clearly excited paul ryan and clearly continuing to be house speaker. that was a very belated paul ryan who seems to be fully erasing -- embracing a new presidential elect. is this hypocritical? alex: definitely sounds like he expects to be speaker next year. i think that is still a bit of an outstanding question. vonnie: he did say the transition team would work together with his staff and gop staff in general. that seems to suggest they had already decided. alex: they talked a little bit about what would happen in this lame duck session of congress that occurs while president obama is still in office. i do not notice -- know if they talked about what happens next
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year. he was vague about what happens to obamacare. vonnie: why would donald trump embrace him, having not taken away his endorsement but frozen part of the endorsement when he said go out in your district and do what you have got to do but i'm not going to campaign on behalf of donald trump? alex: paul ryan is popular among republicans and is a good legislator. i think if paul ryan is offering an olive branch, donald trump will take it. saying donald trump has earned a mandate, what exactly is this mandate giving donald trump? alex: make america great again, it is not much more specific for that. he did not campaign on any specific policy proposals. he talked about things like building a wall.
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translating building a wall on the southern border into policy is a big left for the president-elect. mark: he talked very clearly about working with donald trump's team. let's dig into the team. who is going to be on the cabinet? have talked long and hard about the treasury's -- treasury secretary position but let's run through some of the key posts he has to fill. expect toink we can see many of his top surrogates on the campaign trail land in positions in his government, including rudy giuliani, perhaps newt gingrich, perhaps ben carson, folks at his victory speech last night. there has been talk of giuliani as attorney general. newt gingrich as secretary of state. reince priebus has been discussed as the possible chief of staff of the white house. icahn and wilbur
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ross junior have prominent roles? alex: they have been discussed as possible treasury secretaries and the word is the trunk favors his finance -- trump favors his finance chairman for that position so i do not know if those guys will have a job or if they want one. vonnie: he said donald trump had heard voices the gop had not heard and he had tapped into something in the country. it is not that the gop had that heard them but the gop did not have responses to those voices. does donald trump? alex: that remains to be seen. i think donald trump was very good at speaking to those people .nd recognizing their concerns but really the republican party was working off the same polling data and economic data that all of us were. they saw promising jobs reports,
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polls that showed hillary clinton was supposed to win, so they made the same assumptions we did. donald trump many different set of assumptions and he is right. vonnie: we are awaiting hillary clinton's remarks speaking at the new york hotel. morning? she say this alex: so far her aides are pretty, they are in a pretty grim mood as you would expect. i suspect that she will say pretty nice things about the president-elect. she will probably echo some of this language we have heard from donald trump and paul ryan about uniting the country. i do not think today is the time for democrats to start to plan their counterattack. i don't take you are going to hear that from hillary clinton. mark: how much of a blow, when you look at tradition, was it that hillary clinton did not give her concession speech last night? alex: it was a little bit odd
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but it was also very late at night when the election was called. i do not think she is going to take a lot of heat for waiting for things to get settled out. and letting everybody sleep on it before they hear from her. vonnie: will there be a big, massive document documenting what went wrong on this campaign? alex: the republican autopsy of the 2012 election, democrats will have to do some soul-searching. we are awaiting hillary clinton's speech. her campaign staff is in the audience. supportthere is some for tim kaine, who had been running for the vice presidential nomination. let's listen to what tim kaine had to say.
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kaine: i am proud of hillary clinton because she has been and is a great history maker in everything she has done , as a civil rights lawyer and first lady of arkansas and first lady of this country and senator and secretary of state. in a nation history that is good at so many things, but that has made it uniquely difficult for a woman to be elected to federal office. she became the first major party nominee as a woman to be president and last night won the popular vote of americans. [applause] mr. kaine: that is an amazing
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accomplishment. hillary clinton because in the words of langston hughes she has held fast to dreams. she was inspired at a young age, and epiphany that if families and children do well that is the best roman or for whether a society does well. and everything she has done -- the best barometer for whether a society does well. everything she has done has been working toward that. i was as excited about that in well is office as excited to have my friend hillary. she has built such a wonderful team. [applause] kaine: there is a beautiful
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and comical parable in the new testament about a vineyard owner who hires people to work and says i will pay you this, and then hires people at noon and says, i will pay the same thing, and then hires people one hour before closing, i will pay you the same. we do not like that you are treating everybody else late. here is what i have come to know about hillary. the team she has assembled of people who are so deeply loyal to her because she is so deeply loyal to them is inspiring, and i have seen that same degree of loyalty and compassion extended to the most recent folks who have joined the team, the folks who came to the vineyard with one hour to go. the loyalty and compassion of hillary to bill -- hillary and bill, if they are with you they are with you. finally i'm proud of hillary because she loves this country. [applause]
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mr. kaine: nobody had to wonder about hillary clinton whether she would accept the outcome of an election. nobody had to ask that question or doubt it. she knows our country for what it is. she knows the system that we have and with its blemishes she is deeply in love with it. she has been in battles where she did not win and has accepted it but the next day battled again. that love of country is something i think is obvious to everybody, obvious to everyone. i want to thank hillary clinton for asking ann and i to join this wild ride. ifut a week before she asked i would be her running mate we went down to westchester and sat down with the family.
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we had a conversation to determine if we would be the right people on the ticket, and when we got back in the car i said, i do not know if we are going to be on this ticket but we are going to remember that three hours for the rest of our life. remember 105 days that we have had with this fantastic couple of public servants, and all of you for the rest of our life. hillary and i know well the wisdom and words of william faulkner. theyilts -- he said they ain'tus but whooped us because we know the work remains. dreams ofat the
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empowering families and children remains. that important work we have to do as a nation is so comforting to know that hillary clinton as somebody, until her very last breath is going to be battling for the values that make this nation great and the values we care so deeply about. please join me in welcoming secretary hillary rodham clinton. [applause] ms. clinton: thank you.
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thank you all. you. all very thank you. thank you so much. [applause] ms. clinton: a very rowdy group. thank you, my friends, thank you. thank you so very much for being here. and i love you all. last night i congratulated donald trump and offered to work with him on behalf of our country. i hope that he will be a successful president for all americans.
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this is not the outcome we for,d or reworked so hard and i am sorry that we did not win this election for the values we share and the vision we hold for our country. gratitude pride and for this wonderful campaign that we built together. creative, diverse, unruly, energized campaign. you represent the best of being your candidate has been one of the greatest honors of my life. [applause] ms. clinton: i know how disappointed you feel because i feel it too. and so do tens of millions of americans who invested their
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hopes and dreams in this effort. this is painful and it will be for a long time, but i want to -- i want you to remember this. our campaign was never about one person or even run election. it was about the country we love and building an america that is hopeful, inclusive, and bighearted. we have seen that our nation is more deeply divided than we thought. but i still believe in america and i always will. and if you do, then we must accept this result and then look to the future. donald trump is going to be our president. we go have an open mind and the him anto read -- owe open mind and the chance to lead.
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it also enshrines other things, the rule of law, the principle that we are all equal in rights and dignity, freedom of worship and expression. we respect and cherish these values too, and we must defend them. [applause] ms. clinton: and let it at, our constitutional democracy demands our participation, not just every four years but all the time. so let's do all we can to keep advancing the causes and values we all hold dear. making our economy work for everyone, not just those at the top, protecting our country and protecting our planet, and
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breaking down all the barriers that hold any american back from achieving their dreams. we spent a year and a half bringing together millions of people from every corner of our country to say with one voice that we believe that the american dream is big enough for everyone, for people of all races and religions, for men and women, for immigrants, for lg deep -- lgbt people, and people with disabilities, or everyone. -- for everyone. [applause] clinton: so now our responsibility as citizens is to keep doing our part to build stronger, fairer america we seek, and i know you will. i am so grateful to stand with
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all of you. i want to thank tim kaine and and holton for being my partner on this journey. holton for being my partner on this journey. it has been a joy getting to know them better and it gives me great joy and comfort to know that tim will remain on the frontlines of our democracy representing virginia in the senate. [applause] clinton: two barack and michelle obama, our country owes you an enormous debt of gratitude. [applause]
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ms. clinton: we thank you for your graceful, determined leadership that has meant so much to so many americans and people across the world. mark, bill and chelsea, charlotte, aden, our brothers in our entire family, my love for you means more than i can ever express. you crisscrossed this country on our behalf and lifted me up when i needed it most, even four-month old aden who traveled with his mom. i will always be grateful to the creative, talented, dedicated men and women at our headquarters in brooklyn and across our country. [applause]
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ms. clinton: you poured your hearts into this campaign. for some of you who are veterans, it was a campaign after you had done other campaigns. for some of you it was your first campaign. i want each of you to know that you were the best campaign anybody could have ever expected or wanted. [applause] clinton: and to the millions of volunteers, community leaders, activists, and union organizers who knocked on doors, talked to neighbors, posted on facebook, even in secret, private facebook sites. out fromerybody coming behind that and make sure your
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voices are heard going forward. [applause] clinton: to everyone who sent in contributions as small as five dollars and kept us going, thank you, thank you from all of us. and to the young people in particular, i hope you will hear this. said, spent my entire adult life fighting for what i believe in. i have had successes and setbacks, sometimes really painful ones. many of you are at the beginning of your professional, public, and political careers. you will have successes and setbacks too. please,s hurts, but never stop believing that fighting for what is right is worth it. [applause]
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ms. clinton: it is, it is worth it. and so we need you to keep up these fights now and for the rest of your lives. and to all the women and especially the young women who put their faith in this campaign me, nothing-- in has made me prouder than to be your champion. [applause]
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know we had now, i still not shattered that highest and hardest glass ceiling but someday, someone will and hopefully sooner than we might think right now. [applause] ms. clinton: and to all the little girls who are watching this, never doubt that you are andable and powerful deserving of every chance and opportunity in the world to pursue and achieve your own dreams. [applause] finally, i am so
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grateful for our country and for all it has given to me. i count my blessings every single day that i'm an american. and i still believe as deeply as i ever have, that if we stand together and work together with respect for our differences, strength in our convictions, and love for this nation, our best days are still ahead of us. [applause] ms. clinton: because you know i believe we are stronger together and we will go forward together. and you should never, ever regret fighting for that.
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notpture tells us, let us grow weary in doing good for in due season we shall reap if we do not lose heart. friends, let us have faith in each other, let us not grow weary and let us not lose heart because there are other seasons to come and there is more work to do. i am incredibly honored and grateful to have had this chance to represent all of you in this consequential election. may god bless you and may god bless the united states of america. [applause] clintonthat was hillary speaking in new york at the new yorker hotel. not the speech she was anticipating getting this morning, i can guarantee that. with us is marty schenker. who writes the postmortem and what does this say? martie: it
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is going to be a lost opportunity. many people consider donald trump the least formidable candidate republicans can put forward and she lost to him. the democratic party is going to have to do a lot of soul-searching. the left bernie sanders wing will claim they could have performed better and meanwhile, donald trump's coalition includes a lot of democrats so they are going to have to get their act together. it is funny because before the election everybody thought the gop was going to have to figure it out and it now looks like that passes on to the democrats. vonnie: he spent the whole campaign season can about the fractured gop, being fractured in two and then many parts. now it looks like the democratic side does not have a leader. marty: the bench is very weak. there is four years for someone to emerge.
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there is elizabeth warren. meanwhile, the republican coalition, the red coalition seems to have come back together and added states like michigan, is constant, pennsylvania -- wisconsin, pennsylvania, which republicans have been trying to win for four straight election cycles. the whole election map was re-drawn. phenomena or a social phenomena? she stay in politics and can she work with president donald trump? marty: i never say never but i think hillary clinton's time in politics has probably passed. it will be interesting to see if she goes back and works for the foundation. she is a tremendous public servant and that has been her life's work, and she will probably find some public role but i think her time in politics is probably gone. vonnie: does donald trump
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moderate his rhetoric in the oval office? given that a president can only do so much, can he get anything done? marty: before this election everyone was talking about a fractured congress and in fact what he has is a unified congress. he is probably going to be able to get things done that no one thought could get done in this upcoming session viewed tax reform, infrastructure, immigration reform even. vonnie: marty schenker, thank you. much more ahead on bloomberg markets. you are watching hillary clinton in purple having given her thank you speech to her supporters, leaving the new yorker hotel. ♪
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vonnie: it is noon in new york. i am vonnie quinn. michael: i am michael mckee. and to bloomberg markets.
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vonnie: we will ring you global reaction over donald trump winning the u.s. presidency. president obama expecting to speak this hour. we are almost halfway into the trading day and julie hyman joins us. julie: as unpredictable as the election outcome was too many, probably even more unexpected is the market reaction. we now have a strong rally, the third straight up day for the major averages. this is the first three-day winning streak we have seen since september with stocks gaining more than 3%. the dow at the highs of the session as are the other majors. the s&p gaining almost a percent. the nasdaq is trailing as we see technology shares not a strong. the s&p 500 over the course of the day, there seemed to be a lot of indecision.


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