Likely to know overshadowed. Polls are open in most of the country. With the presidency and control of the senate and house at stake, weve got your bases covered coast to coast. Live reports from battleground states all across the nation. Jim, you went into this pretty heavy last night looking at playbooks either way. What is your general thought about how to approach today . Were going to have a couple stocks tonight that win no matter what. I think the idea is i think from the very beginning, you go back to the day that trump started, it was about mexico. And mexico is a job taker. Mexico does make your products cheaper. But it is a job taker. And its a job taker in the sense that if youre mercedes or if youre bmw or if youre toyota, youre trying to figure out where to put a plant and youre indifferent whether you put a plant in mexico or the United States in terms of being able to reach california and new york, so the idea is that if you put a plant in pueblo, ksu is the winner because ksu takes your cars up and ksu is the big loser if you stop taking the cars up. Those bmws will be made here. These are about reaching the u. S. Market. If you cant get if you put a tariff on mexican cars, then theyll be made here. But at the same time, your cars will be more expensive. So its this huge tradeoff between the number of people who are involved in making autos. We make a lot of cars here still as it is. I know youve had these conversations and i think hed say weve added jobs. Its not americans. Theres a gm plant nearby where i have a house. So its not the american automakers. No. Its really bmw and mercedes. Audi also now is making their q7 in mexico, i think. Its where they put the plant. Im just kind of amazed. They built a new airport next to me. And its for german and japanese executives basically. Because they can use nafta to make it so its 3 an hour. Look at the peso, no health care because its provided by the state, very Light Pollution control laws and zero a absenteeism. No you knunions. So the question is not ford, its not gm. Its about where mercedes is going to put the next plant. Youre talking about 4 or 5 million cars coming from mexico in 2020. So that is what at stake and ksu we were using ksu as what hitchcock would call the mcgovern. It was kind of the thing. I looked at twitter because people felt that was an antitrump story. What we did is say this is the one that determines where the next builds will be. And if you do think nafta will go away, then you have to believe that mercedes and bmw or the companies that are expanding will build cars to get in the American Market in america. So theres really kind of not much to that. You put a tariff on a mexican car so it costs as much as a car to make in america, youre not going to build a car in mexico. Overall markets, weve heard strategists call for a decline on a trump victory. A peso getting killed. A run to safe havens. But others argue that a lot of that depends on how he responds to a victory tonight, if he wins. I think thats true. Look, the peso has just been from in 2010 the peso was 121. Its now 18, 191. So its been factoring in a lot of trump, particularly because the mexicans economy is not too bad. If oil and gas were up it would be triple our gdp. So there is without a doubt, if there is a speech that comes from trump saying were going to take this slowly, i know that i joke a lot with sara and with will about the brexit paradigm, but if you take it slow, if it goes to congress, if you figure it all out, then it wont bes aearth shattering. But i do think when you get with ceos, all the ceos want the rhetoric to die down. There was a Conference Call yesterday that was one of the most frightening Conference Calls and it was the cisco syy con. It said restaurants, people stopped going out. The deceleration in restaurants this quarter was extraordinary. I think its about people staying at home. Sysco had a good quarter because they bought a company in europe. Bright spot, bright spot, bright spot. But it was about people not going out. And i think my hope is once you get the election over, maybe people will return. Theyll go out again. But when you hear sysco, thats a nationwide company. Its no longer anecdotal. Its not like theyre going to darden because theyre going to wendys, theyre just not going. But that was a call about america and whats happened in america the last 90 days. I guess i have a little harder time understanding exactly how behavior is impacted by the election in terms of people making a decision not to go out to olive garden. Like dominos had double digit. I mean thats stay at home. Why, though . What is it . What are people what i was postulating, theyre not staying home and watching football. The numbers arent that good. I think that theyre transfixed i think people are watching coverage. Really . You think theyre staying home because theyre watching election coverage . Look, im stuck. Yeah. Some of the sunday news sports was impacted by coverage of comey over the weekend, we saw that. Yeah. Look, im kind of staggered. Wow. What else . What else was coincident maybe you take a look at darden was starting to go up yesterday. Maybe you make a restaurant bet, cheesecake was one of the few. But i thought the sysco call, it was too coincident with the election because i couldnt find Something Else that happened in america that would make it so they would talk about a dramatic deceleration of orders in restaurants in the last 90 days. Look, im just going by default. David, im doing a tail of radiosination. I think theyre leaving the house less to transact business. Realtors might be leaving to do a showing. Last night i had brad jacobs on from the Second Largest Company in terms of last mile, of bringing ecom whats the matter . Im looking, im listening. Youre intimidating me with that. I dont mean to be. Ecommerce he said was incredibly strong which again dovetails think about it. Youve got patty doyle saying the last three months have been amazing. The ceo of dominos pizza. Youve got krause saying take two has never had sales like this. Thats nba 2k and youve got the kraft beer company saying really remarkable things. Thats stay at home. You have mccormick telling me yes, youre right on when you say people are cooking at home. Theyre at home. Now, what happened . It wasnt like a nuclear winter. Thankfully. It wasnt like something happened that they had to stay inside. I dont have the answer, but it is interesting to note because there is a i cant think of anything else. I know. What else could it be . We all decided to stay home because of narcos 2 . Wages are going up. All those things would have led to better restaurant sales. Yeah. And its not like any wednesday, which is no longer any. Theres not a lot to explain why people stayed home. I guess well know the answer if in fact the behavior changes after election day. My take is you cant take any choices. If youre at home and a bit of a specula speculator, you make a bet on a darden that people go back out again. If you want to make a bet on brinker, i dont know, they didnt have that great a quarter. But it is extraordinary to hear sysco who handles everybody, say listen, we had a big deceleration the last three months. I cant find any other reason. For more on election day today, lets get to our chief washington correspondent, john harwood, whos at hq. Good morning, john. Good morning, carl. You know, today is quiet, americans vote, we wait to count them. Yesterday the candidates closed that Long Campaign with one more sprint to the finish. Donald trump fighting the odds appealed in michigan to the idea of fighting the establishment and the rigged system. Take a listen. There is one core question for you to consider. Do you want america to be ruled by the corrupt Political Class or do you want america to be ruled by you, the people. Thats what it is, by the people. Now, Hillary Clinton is expecting to win. She took a different approach. Shes looking past the election. She tried to raise the tone of her remarks last night and bring people together after the election. I want you to know and i want you to spread the word i do want to be president for all americans, not just some, not just the people who support me and vote for me, i want to be president for everyone, because we all have a role to play in building that Better Future for our country and for each of you. That was in raleigh, North Carolina, where she appeared with lady gaga. Heres why she is feeling good about the prospects. Take a look at the nbc battleground map. A lot of blue, dark blue and light blue. If you take the states that are either with her on leaning to her, shes at 274. That doesnt mean donald trump couldnt snatch some of those back today. You see tossups in arizona, in florida, in georgia, in North Carolina, in ohio and in New Hampshire. But Hillary Clintons favored. Donald trump has got to run the table. You see him only with 170 votes solidly in his column. If you look at the odds, the New York Times upshot model gives Hillary Clinton an 84 chance to win the election. Nate silver is a little lower, princeton is a little higher, but that shows the expectations going into tonight. Now, we also got races for the senate and for the house. Take a look at the senate balance. Democrats need to pick up four seats. If Hillary Clinton wins the presidency with her Vice President breaking the tie, they are favored to do that but very narrowly. Its going to be a close race. We might not know who controls the senate until tomorrow because youre going to have extended vote counts in some of those close races. The house is the one certainty. It is highly unlikely that democrats win the 30 seats they need to control the house. They need to get to 218. Theres only about three dozen house seats that are vulnerable that republicans now hold. Democrats would have to win nearly all of them. Not impossible, but very unlikely, carl. John, if theres one state thats going to tell us tonight whether its going to be a short night or a long night, what is it . Well, i would say that North Carolina is probably the key state because if Hillary Clinton can hold the lead that she seems to have established in the early vote, very narrow, shes slightly favored in that state now, that takes 15 electoral votes that donald trump absolutely has to have. Donald trump starts with the 206 that mitt romney had, but that includes North Carolina. You take those away, the onus is on him to win a much higher percentage of those remaining states. Florida is also a state if Hillary Clinton if she wins, and shes slightly favored, very slightly, that would be an absolute block on Donald Trumps ability to get to 270. John, well see you in a little bit. Make sure you catch our special election coverage beginning tonight, 7 00 p. M. Eastern time right here on cnbc. When we come back, well take on top of the election and all the Market Movers throughout the morning. Also ahead, House Financial Services chairman Jeb Hensarling on the election. Take another look at the premarket. That gain yesterday of 2. 2 , weve only done it 12 times in five years. More squawk on the street in a minute. Cvs health tumbling in the premarket. Quarterly revenues beat. Pharmacy Network Changes in the marketplace and slowing prescription growth. Cvs also approving a new 15 billion share buyback. They say drug stocks with a v in them today not doing well. Im going to the call on cvs. Yeah, on cvs. You combine what jpmorgan says about walgreens, the 40 million prescription that theyre losing, probably 40 is prime, 40 is tricare. These are Restricted Network deals that cvs takes out of the picture. The thinking goes that these go to walgreens and that walgreens is the winner. No one is going to believe that. The readthrough would be to sell walgreens also. They are talking about these Network Pharmacy problems or losses, it would seem, to walgreens, to your point. Market share losses and negative operating leverage seems worse than expected, given 40 million script losses. And target lower than expected but they took over target. Right. But theyre saying, look, with deals with prime and tricare is the reason for the 40 million and they called out walgreens deals. These are walgreens deals with prime and tricare, with two networks that went to walgreens. But again, i understand the way the game is played. If you see cvs down, youre going to sell walgreens, it doesnt matter. But i am saying that from the Conference Call it wasnt at all clear that this wasnt share take because walgreens has a very different relationship. These are both very Smart Companies and cvs kind of takes my breath away. Thats a significant decline. What people say is, listen, cvs will have to take that business back somehow, so what are they going to do . Cut price. So that could be the negative about walgreens. But its clear that the network deals that theyre talking about, which are the prime and try care deals are deals that walgreens is the winner for. So i can understand when jpmorgan says dont sell walgreens on this, but its big. Lets quickly get to valeant. The talk may be down as much as 30 . The company did not report good numbers but the talk really started its descent when the call began, the Conference Call. Let me share a couple of things from joe papa. If you ask me how i feel about the quality of the revised guidance, i feel good about it but ill have more confidence when we put out our 2017 guidance and more confidence at the end of the First Quarter of 2017 and so on. There could still be surprises yet to be discovered. Not trying to alarm anyone, im just letting you know that as time passes, our forecast and guidance will improve. That was the cfo, not ceo, joe papa. That didnt help confidence overall. And they continued to talk about ebita week down. Youre talking about sales declines as a result of part of lower prices being realized. They did offset to a certain extent by higher volumes in their products. But bausch lomb was down, salex sales were not as good as they might have expected to be. Theyre in the process of selling salex. They spent 16 billion on it. Did you confirm that it is for sale . Ive confirmed that its an 8. 5 billion price with a royalty stream, but they spent 16 billion, including the debt they took on, which will stay on valeants balance sheet. When youve got ebitda going down, your ratio goes up. Now, we know they repaid 450 million of additional permanent debt. They only have 160 million of mandatory term loan repayments. They dont have near term maturi maturity, especially given the sale of the salex business, which is in process. But its still going the wrong way. And its obvious that they could be violating covenants, right . Thats a concern. Well monitor the call. Whatever else did or happened on that, buck you see valeant, when is the last time that stock saw 13 . Its been a while, right . In fact, i dont have a 52week low of that low. Look, theres a lot of people who were wells fargo was an incredible bear and i got tired of seeing how bearish they were and they were using a 17 kind of low point there. Between valeant, cvs and hertz. Is that the hurts kind . Well talk about that. Well get cramers mad dash and count down to the opening bell. Catch our special election coverage beginning at 7 00 p. M. Eastern time. Another look at the premarket on this election day and more squawk on the street is straight ahead. This is my retirement. Retiring retired tires. And i never get tired of it. Are you entirely prepared to retire . Plan your never tiring retiring retired tires retirement with e trade. Im in vests and as a vested investor in vests i invest with e trade, where investors can investigate and invest in vests. Or not in vests. Sign up at etrade. Com and get up to six hundred dollars. 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, pinpointing opportunities to capture alpha in real estate, infrastructure and emerging markets. Partner with pgim the Global Investment management businesses of prudential. Will your business 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. All right. Weve got about six minutes till we get to that opening bell. Weve got a mad dash. I want to talk hertz. This has been a disaster. Can i just say point black, this has just been one of the worst stocks to own in the year. Look at this. This is one of the worst stocks in the year. Give us a longer one. One of the things thats really upsetting is they never point blank say how bad things are going. Softer volumes. Get this one. Vehicle depreciation surprise. They Straight Line depreciate. Whats so hard about that . Maybe because of used cars they thought they would get more valuation for used cars. Higher operating expenses and recall. Right. They went and let them all merge, david. The Justice Department said, hey, all you guys get together. You can do whatever the heck you want. It was like that and the airlines were like, were doomed because people said hertz took the rates right up after they merged. Thats a strangelooking chart. There were very prominent people behind this stuff. This has taken so many hedge funds who love this stock, love the de