Contractors well talk to economics professor Richard Wolffe about what this means for our fate we have a lot to get to so lets get started. U. S. President ial Election Results theyre still coming in with some pretty big states still in question and really its it seems like its too close to call but its one joins us hes going to walk us through then what do we have ok several restart out now with some breaking news before we get into the numbers and the states of whats happening because apparently the Trump Campaign has filed 2 lawsuits in just the last hour one in the state of pennsylvania and one in the state of michigan in both cases they are asking judges to halt the count heres what theyre saying President Campaign says it is suing to temporarily stop the vote count in pennsylvania what are they saying theyre saying that the democratic Election Officials are hiding the ballot counting process from republican poll observers and that the campaign wants to temporarily halt the counting until there is meaningful. And parents and republicans going to sure all counting is done above board and by law meanwhile in the state of michigan another lawsuit has been filed within the last hour and in that case the same thing the campaign claims that republican poll watchers have not been granted access to polling locations where votes are being counted they say that michigan law requires this to happen so in both cases they are trying to halt the vote count in again pennsylvania and in michigan that is the very latest also in the last hour the state of wisconsin has gone into joe bidens column for the presidency now this according to the Associated Press thats 10 electoral votes they go to biden putting him right now at our count as to 48 donald trump with 214 electoral votes so obviously a lot going on here again the Associated Press projected that with 95 percent of the vote really a little more than 29000 votes that joe biden has won the state of wisconsin so a big win for biden there its maybe what prompted the drum campaign to step up and attempt to block the counting in those other states but lets take a look at the map here and see what else is going on because in georgia the secretary of state says they will get their numbers today they say by the end of the day today and then theyll be off everybodys radar right now president trouble with about a 100000. 00 vote lead in the state of georgia also North Carolina so this whole section the southeastern section of the country very important to the Trump Campaign right now troubling to around 80000 votes in North Carolina the North Carolina state board of Elections Official explained this afternoon that they stopped counting last night because there were no more ballots to count that were thats what were told and that they are now counting absentee ballots ok up in michigan as we mentioned right now the drum campaign has asked to stop the counting there thats because joe biden leads 49 percent to trumps 48 percent but its less than one percent a 30000. 00 vote difference pennsylvania also where that lawsuit has been filed to try to halt the counting. Only 64 percent of the vote has been counted right now it has a 500000 vote lead but many of the votes still to be counted are mail in ballots trump has about 53 percent of the vote there compared to 45 percent of the vote vote for biden by the way were told that vote will not be completed until at least the end of this week also out here in the west biden right now he leads in the vattel with 67 percent of the vote confirmed 49 percent to 48 percent but biden only has an 8000. 00 vote lead in nevada about 588000 votes to trumps 580000 so obviously as we said a lot going on here with the president ial map and of course wisconsin as we mentioned there is less than one percent difference in the vote tally between trump and biden there and already the Trump Campaign has said that they will ask for a recount which you can do under Wisconsin Law as long as the final total is within one percent now lets shift over to the senate races because a lot going on with the u. S. Senate now keep in mind weve heard a lot about the u. S. Senate over the last few weeks and about how democrats were going to pick up not only retain the house pick up the white house but they would also win the senate well right now heres our count falls republicans have 48 senate seats compared to democratic control of 45 senate seats within the last hour the Associated Press has called the main seat for Susan Collins with 51 percent of the vote Susan Collins the incumbent in maine she was seen as vulnerable to democrats but she has retained that seat also in North Carolina thom tillis he is the republican incumbent it looks like he is defeating right now calcutta by roughly 100000 votes there an interesting race is one in michigan you have a republican challenger by the name of john james hes africanamerican he has 810000 vote lead right now over the democratic incumbent gary peters so if republicans were to pick up that seat it would actually increase their hold on the senate in alaska you have dan sullivan hes a republican that race is still up in the air but not sure should be. Right now he has a huge lead of 63 percent of the vote without grosses 31 percent now in georgia there are 2 senate races david perdue hes leading john also off by roughly 160000 votes looks like hes going to pick up or retain his seat hes the incumbent excuse me theres also a special election and thats going to go to a runoff between Kelly Loffler and the income shes the incumbent there and Raphael Warnock he is the democratic challenger that race though will not be decided in a runoff until january and also keep in mind folks you know we heard so much about the senate races Mitch Mcconnell democrats spent 100000000. 00 trying to get rid of the Senate Majority leader Mitch Mcconnell they did not do so he cruised to reelection and so did South Carolina senator Lindsey Graham so again all this talk of democrats who are going to take the senate that part certainly has not panned out it doesnt look like anything is really panned out just yet then given those numbers and given what you just said about them now trying to halter Top Administration trying to halt these count how likely is that to happen we have so many states still up in the air and question and whether or not were even going to hear from those results today or tomorrow also up in the air well just kind of a 1st blush here it looks like the trumpet ministration excuse me from campaign may have made a huge mistake by give the president coming out last night and saying that he had already won and saying that this thing was rigged because now it looks like theyre looking for any reason to stop it as opposed to the very specific reasons theyre standing in these lawsuits which is that they dont have poll workers who are adequately able to monitor now one of the things theyre probably citing here is there was a poll worker a poll watcher in the state of pennsylvania who was turned away you might have seen the video of that he was turned away when he showed up to watch the polls and told he couldnt come in eventually that was changed he says it was because it was a republican he says republicans were given one color card to show that they were a poll watcher democrats were given another color he says thats why he was forced out and Something Else is pretty interesting here as we get all these numbers together i got to mention something the overall numbers for this election are. Absolutely staggering according to the Associated Press joe biden now has received more votes than any u. S. President ial candidate in history more than 70000000 votes have gone to joe biden and thats more than a 1000000 votes higher than the previous record set by obama in 2008 so joe biden right now sits at 70000000 votes donald trump sits at 67000000 votes National Historical election and that were seeing it take place here but either way they say that their votes were halted or of the ballots not counting right now none of these candidates have yet reached that that or the number of to 70 thats going to end up at the house what are we looking at well thats thats the point right the reason the trim campaign wants to stop the voting now is the excuse me the county now is if you stop the counts as theyre coming in you potentially are able to block biden from reaching that to 70 if biden picks up pennsylvania he picks up michigan its game over so that what the Trump Campaign is trying to do is halted and throw out ballots that they say are invalid and count the ballots that they claim are valid of course theres going to be a big disagreement between these campaigns as to what is invalid and what is valid but thats the goal here is to ultimately get control of that narrative before biden hits to 70 because once he gets to 70 and by the way as we mentioned out in the in the vet of right now biden is leading potentially could pick that up but if you keep adding these totals eventually biden hits that to 70 and gets to declare victory and thats what the Trump Campaign is trying to hold they dont want to look like hes declared victory and now theyre reacting to that would also be very interesting to see nevada flip hasnt happened in so long thats one stay with us. But the u. S. Election results still and limbo Global Markets rally and surged on wednesday for the 3rd straight day to explain the level of illness cohost christie i and you know of openness to having them around z. We still dont have a clear winner we just heard what ben break all the numbers down at the market is rallying the nasdaq up over 4 percent today whats driving this and is this all optimism really pretty premature. Well its quite a remarkable turn of events with this kind of contested election we were seeing a lot more volatility in the markets and our pressure and tech stocks are despairing through the roof i think whats happening there is that basically they were sort of agreement amongst democrats and republicans that there was a need to regulate big tech more and do something about is one of the few points of agreement between democrats republicans because there was not agreement on how you should regulate what you do about something needed to be. With the democrats it looks like just a few days ago they were going to take the white house and the house and therefore be able to push through their bigotry and regulate big tech much more closely thats a battery so all these extra headwinds that it takes thought they were going to face or just disappear you also see that more level of proposition 22. 00 and the formula where is votes to allow. A lift to basically carry on are in good as in and contractors of so i guess big tech is looking this is really sort of a sigh of relief in saying im not going to come off this and replace more intensely and so this the ice is going through the roof of the coast as a result. There kristie i so you know obviously were sitting here looking at a president ial race that is inconclusive to say the least who knows how long this goes on is this going to impact even damper Consumer Spending this Holiday Season considering where the retailers are right now or is that going to be more of an issue do you think of coronavirus and what lingers there. Its going to play into well its the retailers have faced a tremendously difficult 2021st they had disrupted supply chain lines coming from china when china suffered from coronavirus banker in america hit our shores and all the retailers they had to shine or lay off and then attempt to reopen again then they had to board up again and hunker down in front of the door to floyd protest so they quite a lot this year now they face another threat during the all important Holiday Season which is to create Consumer Spending in the face of this problem of election so Consumer Spending has been pretty strong during this entire lockdown and coming out of lockdown but now were starting to go into the Holiday Season when its supposed to really really pick up and so far everything has been put on pause then has been put on pause until americans get some real clarity on whos actually going to wit a recent survey from Adobe Analytics which tracks internet retailers they showed a drop in spending its very likely you know as in 2016 online sales dropped 14 percent the day after the election and then they dropped 6 percent the day after the 2018 midterms so right now im currently 26 percent of consumers said that the president ial outcome will affect their Holiday Spending so the prolonged counting of votes and also the possibility of a court battle or civil unrest has prompted me to tell us in major cities such as d. C. New york chicago and l. A. To board up their windows again so on top of that as you mentioned millions of americans are start of work and regardless of whether or biden winning the president will likely lead a divided government which will make it all the more difficult to strike a stimulus deal for consumers and businesses. Tabio the i assume Services Report came out today that slim to the weakest since may job growth its also showing some signs of slowdown how this is affect the u. S. Recovery story in the 4th quarter a story that President Trump had said was going to be the best story of the year. Well i think theres some of very very slight. So a decrease to 56. 00 from 57. 00 somewhere up still in positive territory an example 50 something so it looks like things of some expounding and i wouldnt read too much into one single malts operation that i think overall sings of pretty good were not actually the levels that we were. But we all are in so i would expect to see 4 schools also show very very strong growth strong growth this quarter but its going to come out pretty strong i think as long as theres no lock downs going us were going to see a fairly strong economic shoot for this is a small the things are still looking quite it doesnt look like there will be a lock down for that for that reason i was actually for it not affect the already hurting economy but kristie the night was full of surprises not just here in the United States but over in china the acrobat i. P. O. Was act halted it was also less than 48 hours before it was expected to be the largest i. P. O. In history what happened here. So this was come clearly not expected and they look both bankers and Global Investors looking for answers because billions and billions of dollars have already been tied up into this i. P. O. Especially the bankers looking for the 400 1000000. 00 payout with the Successful Listing so now the i. P. O. Has been halted after the founder jack ma was summoned and by the regulators who said that they had discovered anna raya shortcomings so chinese authorities didnt give many details about the issues behind us and ive been so far saying only there had been significant changes in the Regulatory Environment and that this move was to protect the countrys Capital Markets there and i. P. O. Had created a frenzy both at hong kong and shanghai months both institutional and smaller investors so following that whole quarter alibaba plunged over 7 percent in the hall call so the i. P. O. Is now expected to be delayed for about 6 months and the fund will be. Returned to the investors in the meantime but essentially this further reinforces the regulatory pressures building on these tech giants now in china and weve heard about whats happening with the tech giants in the u. S. As well so all this means that its good for banks bad for phantasy then Tech Companies like and they pose a major threat to traditional lenders regulators are now trying to tighten control in the country booming micro lending sector because right now and credit business is so huge that it now issues about 110th of all of chinas nonworkers can and beijing sees that as a risk in the event of an economic slowdown absolutely all right very much both of you are going to go to former Vice President joe biden is now taking to the podium lets listen in to what hes saying this afternoon just 90 minutes. God bless you all may god protect our troops. Thank you. So he was wrapping up right there as we get you into him but apparently he did not claim victory but he also we obviously did not concede defeat there look right now if were looking at the numbers and where they stand by the news in the strongest position in terms of moving forward he has the clearest path to 270 hes on his way to it the real question as we told you at the top of the hour really comes down to whether or not judges will grant a stay a hold if you will on the states of pennsylvania and michigan at the request of the Trump Campaign to stop counting right now so that they begin can begin to kind of survey the county how its being done and have what the Campaign Says are republican poll watchers in the room when you and i were discussing this earlier and h