Transcripts For CNBC Squawk Box 20161107 : vimarsana.com

CNBC Squawk Box November 7, 2016

Clintons administration serving for nearly eight years. She was 78. And in a 5. 0 nag any attitude earthquake in central oklahoma damaged several buildings. The Downtown Energy hub of cushing was blocked off and part of the area was without power for two hours. There were several gas leaks but Officials Say they have been contained. No lifethreatening injuries were reported. A spokesman for the Oklahoma Corporation Commission Says that they have been in contact with pipeline operators in cushing and no immediate reports of problems. Weird, though. Never was an earthquake center. Odd. Back to the political story this morning, the fbi director james comey is maintaining his recommendation that Hillary Clinton not face charges following the newlydiscovered emails. And ayman is here with more. Good morning, joe. We had twists and turns down to the last day in the president ial campaign. But late yesterday the fbi director james comey sent a letter to capitol hill saying the fbi completed its review of the newlydiscovered emails discovered on the laptop that was used by Anthony Weiner and his wife huma abedin. He said based on our review, we have not changed our conclusion that is we expressed in july with respect to secretary clinton. He also said they reviewed the communications, all of the communications that were to or from Hillary Clinton while she was secretary of state. Almost immediately republicans criticized comeys statement yesterday saying that this was a rushed review, that comey could not possibly know everything that was in all the emails. Democrats also were very critical of the fbi director comey here saying hes botched the handling of this from almost the beginning of the investigation into Hillary Clintons emails. So two parties here very at odds with each other over director comey. What well see here in the next 24 hours or so is whether or not this will have any impact on the president ial race. And then, of course, joe, the big question will be what does it portend for james comeys future as fbi director. Hes politically untouchable but either president who might win on tuesday. But does he want to continue . Can he continue . Can he continue to manage the building . Those are all questions swirling around james comey, guys. Thank you, eamon for that. I have one question for you, do you think that ultimately comey keeps his job . Under either administration at this point . I think it is up to james comey, ultimately. Im out on a speculative limb here, but neither president who gets elected on tuesday would be able to fire comey. I think politically and practically. The question is, does he feel like he can still manage the building because youve had all this week now of explosive leaks of the fbi. People saying all kinds of things they normally would never say. Can comey get control of these people, regain the confidence of his team and does he feel like he wants to continue . I think thats sort of the key question here. Eamon, thank you. Well continue this conversation with just one day until the president ial election. Were going to go check out some of the battleground swing states. John harwood is joining us. Scott cohen is in North Carolina. But well start with diana olec in delwyn beach, florida, this morning. Reporter florida is crucial to the candidates with 29 electoral votes. Thats why both candidates were here on saturday. Most analysts say donald trump cannot win without this state. The math just doesnt work. The last time a president ial candidate won without florida was bill clinton in 1992. So early voting here, though, is done and half the state has already cast a ballot. Renal sterned democrats turned out in larger numbers than republicans are, but by a very thin margin. 2. 4 billion registered republicans to 2. 43 million democrats. And 1. 16 unaffiliated. That is just who voted. We dont know how they voted. So lets go ahead and look at some fun facts. President obama beat mitt romney here in 2012, but with a razorthin onepoint difference. It was the last state in the nation to be called. So we could be up here very late tomorrow night. Now registered voters, 38 democrat, 36 republican, 67 white, 13 black and a large hispanic vote at 17 . Early voting shows a large hispanic turnout. Florida was hardhit during the recession and the housing crisis. 90,000 floridian homes lost to foreclosure. 14 of home oowners are still under water on their mortgage. Florida has the highest Unemployment Rate in the states history. 4. 7 unemployment. And donald trump has spent more time here, about ten more visits than Hillary Clinton. Well go to scott cohen in raleigh. Diana, it may not feel like it this time of the morning, but welcome to the argument of the political universe. Today Donald Trump Holds a rally in raleigh this afternoon. Hillary clinton will wrap up her campaign with a midnight rally at nc state university. Roughly 45 of this state has already voted early according to the state board of elections, but reading that turnout is a little bit tough. Africanamerican turnout seems to be down. A federal judge, though, ruled late on friday, and this may explain the late tension here, late on friday that thousands of people who had been purged from the voter rolls here in North Carolina must be restored. Now, that could bode well for the democrats. We will see. But its not just the president ial race in play here. Arguably, one of the most competitive gubernatorial races in the country. Pat mcrory signed the controversial bathroom law. He signed it and defended it and came under fire on the campaign trail. The democratic challenger roy cooper opposed the law, defended it would not defend it as state attorney general. That law has cost the state millions of dollars in business. Not to mention a couple of points in our annual americas top states for business rankings. And competitiveness is front and center in all the governors races today. Well take a look, in 31st ranked missouri with the 49th ranked workforce, democrat chris coster is promising to make missouri a topten state for business. Its in his Campaign Website by cutting taxes. Republican eric reitgen is vowing to fight corruption. And jim justice is a democrat while republican state senator bill cole promises to cut red tape. Republicans hold nearly a 21 edge in governors races across the country. A dozen governors mansions are up for bid tomorrow in the election. So its not just about the president ial race. Andrew . Okay. Thank you to both of you, john harwood is here with us in new york to help us break things down. And my question for you, really, is given the news over the weekend, does that have any real meaningful impact in that so many people have already voted in the past week . I dont think it has any impact at all. I was talking to a senior clinton advisor last night who said, anybody who is going to make their decision pro or con for Hillary Clinton or emails, that ship sailed a long time ago. So this is an atmospheric thing to put a Little Spring in the step of the clinton team. But i dont think its going to move votes. And its not really clear that the the futures moved on the news yesterday. You saw the european and asian markets move on that news. Does that make sense to you . Or are they moving on Something Else . Well, i dont know what makes those markets move. However, if the correlation is accurate, i think that is a reflection of the conversation that People Like Us have about the what is going to happen after the election and how much trouble is Hillary Clinton in . And is this going to be a problem . I think what do you call it, a headline risk . Its a headline reaction. You saw the peso. Did you see the peso . Yeah, obviously, thats what it was. I dont know, the giants won. But that probably wasnt it. I think it was yeah, definitely, right . Definitely. Nine Straight Days do you think that the markets move nine Straight Days downward as it got uncertain as he close in the polls and its getting back to or is it a coincidence with the reopening that it went down and with the investigation nothing happens and it goes up 2. 50. It gets it all back. I dont question the Market Analysis youre doing. But what im saying is the progress that donald trump was making, he was making it before the comey letter came out because republicans were coming home to him. What happens in politics, things happen in the world and then we look at the campaign and say, oh, that caused that. Urgely it didnt cause that. Uh andrew, i was in makeup, we werent able to get makeup together, which was a bummer, because it is down here, its not big enough, the room, but nothing is better than when a couple of guys are just shooting the bull while getting makeup on. You were getting a pedi. Oh, john. Real clear politics. Heres the top stories. Trump is a threat to the world. The entire world. Even if he loses, thats from one person. Then the next one, its trump or its the end of america. So the first one could be the end of the world if it is trump. The next one, it will be the end of america if its not trump. And then the third article is, good luck to the next president. 50 of the country will hate you. Yes. And congress will be deadlocked. Which is very true. So thats where we are. And i was thinking, im happy for you over the weekend, its really good. But i just think its really great for the democrats now that theres a chance their nominee doesnt get indicted i just think you would be giddy, too, if i knew there was going to be no criminal prosecution in the first month, at least on the emails. Thats a very positive thing and its positive for the markets and Everything Else. So why not be giddy on a monday, right . This is good. Thats good news. But heres the question for you, joe, even if theres no indictment, should there still be an impeachment . It depends on the Clinton Foundation. Im so confused with the fox reports and then the pushback from everybody else. Do you have any insight into that . Fox reports, they themselves walked back. Well, he didnt really walk back the substance. It was aggressive and has been going on for a while. And they are actively pursuing. He walked back the indictment that was imminent. But what it shows andrew, in fairness, are you going to walk back the 13yearold rape case . We should do that. Kellyanne conway will be here he bogged down trump for the First Six Months of his presidency. Joe, heres what we are learning as eamon indicated in his report. The same kind of polarization we experience on this set is occurring in the fbi. Thats just thats the way our country is. Can we underline one thing this morning, though . The polls as i see them right now or the state of the race as i see them, the best regarded st statusticians in the world give her an edge but an upset is quite possible. Nate silver, who gained a big reputation in 2008 and 2012 has the model that is most generous to the possibility of a trump upset. Hes about a 65 to 35 . Correct. But the other models, the New York Times model, the princeton model, the Huffington Post model the Huffington Post said 99. 9 . No, that is princeton. I was joking. One is at 99. 9 . That is correct. Whoa. Let me just run through the polling numbers because we do have the last nbc news wall street journal poll. What it shows consistent with other polls is a lead of four points for Hillary Clinton, 44 40. Has a larger undecided than some other polls do. Gary johnson is at 6 . Jill stein at 2 . And very consistent makeup of the coalitions favoring each candidate. First of all, look at Donald Trumps assets. He does well among men, Senior Citizens and does very well among noncollege whites. He does well among whites overall. And he does well among people in rural areas. You look at Hillary Clinton, her assets are stronger than Donald Trumps. She has a bigger lead among women than he has among men. She has a bigger lead among nonwhites than he has among whites. She has a very large lead in urban areas and she has a large lead with young people and White College graduates. And that is unprecedented for a democratic candidate to be winning white votes. College educated whites, what is it . As a share of the vote . No, no. Right now plus seven for Hillary Clinton. Among all College Educated voters. Okay. And College Educated men must be its like two points for trump. Correct. We are under the impression that its a bunch of uneducated white guys. Well, thats the strongest element of his base. So there are some College Educated its just it is plus two with College Educated men. I think the spirit of what youre saying is, oh, its the uneducated people who like trump. But there are plenty of educated people voting for donald trump. Its a big country. There are a lot of people yes. I mean, the overall numbers are 47 40. Princeton are the guys who invented the toothbrush and didnt call it a teethbrush because they didnt have one tooth. Thats why it was called a toothbrush. Did you write that joke . No, its a redneck. Is that a Jeff Foxworthy . Yes. You know who Jeff Foxworthy is . Yes, i do know who Jeff Foxworthy is. Dude. Why is it called a toothbrush . Where is Jeff Foxworthy . Hes on cable somewhere. I like that. Im glad i got you to smile this morning. One day. Can i ask one more question . Lets say the polls are wrong. Lets say theres an upset. In my head if that happens the senate goes republican. Is that a good assumption since it is 50 50. No question about it. Okay, if that happens, this is what i question about the if we see a move in the markets, if the republicans control all three houses of congress, tax reform, health care reform, whatever you want to call it, suddenly becomes much more possible. To me i dont understand why that isnt market friendly and why the market reacts so negatively when they see donald trump losing in the polls. When it comes to policy, if you let paul ryan lead the legislative agenda i would say because the end of democracy and the free world would be negative for all those things if trump were elected. You said facetiously. Yeah. But you just saw what i said. I just question the whole the president said that it could be the end of the world. And place are going to fall out of the sky. As he said dont worry about voting. A couple points, first of all, i think theres some i defer to you on analyzing the markets, but there is some concern about trumps temperament, stability, that sort of stuff. Thats a. B, theres got to be certain in the markets about trumps attitude toward trade. On both sides. And clearly trump trumps political identity is more bound up in antitrade than Hillary Clinton. But tax reform, this is, he said it himself during the debate, what i thought was one of the most authentic moments of the debate, under his breath he says, i know more about the tax code than anybody else who has run for president. But you have a big risk on the deficit given his plan. And finally, hes not for entitlement reform. That is core to paul ryan. Not right away anyway. I dont care. You can eat whatever you want in the morning. As long as youre here. Side story. I had yesterdays dinner as my breakfast. And it was a little stinky, i apologize. But youre here. I didnt smell it at all. So i think some people might be hypersensitive. I found this listerine in the makeup room. Whatever you had, thank you for being here. John harwood, thank you for being here. You saved me from having to really talk. Please come every day. Coming up this morning, Kellyanne Conway is going to join us to talk about her final push for voters. And a programming note, cnbcs special Election Night coverage starts tomorrow. You dont want to miss it at 7 00 p. M. Eastern time. John will be on the show. Michelle will be here with her listerine. Its going to be big. And on trade, they both hate trade. U. S. Ek wiquity futures are sha high they are morning. Dont miss our interview with david tepper to talk about the market and the election. Thats at 8 00 eastern time. Squawk box will be right back. Those new glasses . They are. Do i look smarter . Yeah, a little. Youre making money now, are you investing . Well, ive been doing some research. Let me introduce you to our broker. How much does he charge . I dont know. Okay. Uh, do you get your fees back if youre not happy . dad laughs wow, youre laughing. Thats not the way the world works. Well, the worlds changing. Are you asking enough questions about the way your wealth is managed . Wealth management, at charles schwab. Stock futures are surging this morning just one day ahead of the president ial election. Joining us now, geena sanchez, shes a cnbc contributor. And chris rupke, a chief financial economist at mufg union bank. So we are seeing a snapback. I didnt add up the nine days on the s p, did either of you . What did we lose . And does it equate to 250 points . Probably not that much to get back what we lost. I think weve been treading water in this whole process. Do you know, chris . I dont know. I think the dow is going to be up, what, 4. 5 , 5 year to date . It doesnt seem to break out anywhere, does it . No, it hasnt in a couple years. But we went under 2100 on the s p. And under 18,000 on the dow. So this will bring us back at this point above both of

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