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REUTERS/Mary F. CalvertPHOENIX, Ariz./BIRMINGHAM, Mich., Nov 8 (Reuters) - Senate incumbents including Democratic leader Chuck Schumer and senior Republican John Thune won re-election in Tuesday's U.S. midterm elections, on a day Republicans were expected to wrest control of Congress away from President Joe Biden's Democrats. Thirty-five Senate seats and all 435 House of Representatives seats are on the ballot. The final outcome, particularly control of the 50-50 Senate, is unlikely to be known any time soon. Democrats currently control that chamber through Vice President Kamala Harris' tie-breaking vote. The Georgia race could end up in a Dec. 6 runoff to determine which party holds the Senate.

REUTERS/Dado Ruvic/IllustrationWASHINGTON/LONDON, Nov 8 (Reuters) - The dollar slid on Tuesday as rising German bond yields strengthened the euro, but a strong reading of the consumer price index later this week could reverse the currency's slide. A steady climb in German bond yields weakened the dollar on expectations of further European Central Bank tightening, which cut the spread with Treasury yields, said Marc Chandler, chief market speculation at Bannockburn Global Forex. "What I'm focusing on today is a huge move in two-year German bunds. "Once we've fully priced in peak Fed tightening, then you'll see a major reversal. The euro rose 0.48% to $ 1.0067 , while the Japanese yen strengthened 0.72% against the dollar at 145.57 .

☆ Factbox: Market implications from Tuesday's U.S. midterm elections
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, Nov 8 (Reuters) - Investors are turning their focus to Tuesday's midterm elections, which will determine control of the U.S. Congress. Here are some potential market implications from Tuesday's vote:** With a Democrat in the White House, the best market performance has come when Republicans held either the House, Senate or both. The S&P 500 is down 20% this year. Over the past 18 political cycles, the S&P 500 has risen by an average of over 15% in the year following the midterm vote, according to Oxford Economics. A GOP win could also raise expectations for higher defense spending and more favorable legislation for the fossil fuel industry.

☆ Morning Bid: Midterms vigil and new crypto wobble
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Tuesday's U.S. mid-term elections held world markets in thrall and investors now assume policy gridlock will emerge as the winner. With a critical U.S. inflation reading due on Thursday, there was some attention on San Francisco Fed research showing credit across the economy is tighter than the Fed's policy rate suggests and financial conditions by September were more reflective of a 5.25% policy rate than the current 3.75%-4%. FTX token , the native token of crypto exchange FTX, plunged 20% amid a range of reports and speculation that dragged the whole crypto complex lower and saw drop 5%. FTX has come under pressure after the head of rival exchange Binance said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations".

The world's richest person, Musk has faced criticism from some groups who believe his absolutist stance on free speech will increase misinformation on Twitter. His tweet to more than 110 million followers on Monday represented the first time the head of a major social media platform explicitly endorsed a U.S. political party. Musk, who frequently comments on U.S. politics, previously said he would vote for Republicans but that he backs moderates of both major political parties. NEW LINE FOR SOCIAL MEDIA EXECSMusk is not alone among social media executives in taking open political stances. Federal authorities are investigating Musk over his conduct in acquiring Twitter, the company said in a court filing last month.

[1/2] A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. "In general we have seen stocks perform better after a split government, I expect that to continue." Economists expect the annual consumer prices inflation to slow to 8.0% and the core numbers to dip to 6.5%. Both the midterm elections and inflation are likely to provide major cues for Wall Street after a volatile week dominated by mixed jobs report and hawkish comments from Fed Chair Jerome Powell. All the three major U.S. stock indexes are in bear market territory, from their previous record closing highs.

☆ U.S. governors races carry high stakes for abortion, elections
▼ + stars: | 2022-11-07 | by ( Daniel Trotta | ) www.reuters.com time to read: +6 min

The high stakes have brought increased money and attention to the state-level races, which typically get overshadowed in midterm elections by the fight for control of Congress. Georgia's Republican governor, Brian Kemp, also looks likely to prevail against Democratic challenger Stacey Abrams in a rematch of their 2018 race. Democrats are expected to flip Republican-held governorships in the states of Maryland and Massachusetts, but they face tough battles in a couple of other Democratic states. ABORTION RIGHTS AND DEMOCRACYAs with congressional races across the country, Democratic candidates for governor have warned of the threats Republicans could pose to abortion rights and elections should they win on Tuesday. Democratic Governor Gretchen Whitmer has made abortion a focal point of her re-election campaign in Michigan, where voters also will consider a ballot measure that would safeguard abortion rights in the state's constitution.

Nov 7 (Reuters) - Thirty-six of the 50 states will elect governors in Tuesday's U.S. midterm elections. Polls show him ahead of opponent Charlie Crist, a former Republican governor who switched parties and was elected to the U.S. House of Representatives as a Democrat. GEORGIARepublican Governor Brian Kemp faces Democratic nominee Stacey Abrams in a rematch of the state's close 2018 gubernatorial election. If elected, Abrams would be the first Black woman to serve as governor in the United States. MAINERecent opinion polls show Maine Governor Janet Mills, a Democrat, leading her Republican opponent, Paul LePage, who served as governor of the state from 2011 to 2019.

Nov 8 (Reuters) - Thirty-six of the 50 states are electing governors in Tuesday's U.S. midterm elections. Crist is a former Republican governor who switched parties and was elected to the U.S. House of Representatives as a Democrat. MAINERecent opinion polls show Maine Governor Janet Mills, a Democrat, leading her Republican opponent, Paul LePage, who served as governor of the state from 2011 to 2019. NEVADA[1/6] Campaign signs for Georgia Republican candidate for U.S. Senate Herschel Walker and Georgia Republican Governor Brian Kemp are seen defaced during the midterm elections in Columbus, Georgia, U.S., November 8, 2022. Although Trump endorsed him, Lombardo has sought to distance himself from the former president, accepting the 2020 elections results as legitimate.

☆ Kari Lake campaign headquarters reopens in Phoenix after receiving suspicious mail
▼ + stars: | 2022-11-07 | by ( Tim Reid | ) www.reuters.com time to read: +1 min

PHOENIX, Nov 7 (Reuters) - The campaign headquarters of Kari Lake, the Republican candidate for Arizona governor, reopened on Monday, a day after authorities began investigating a suspicious white powder that was delivered by mail to the Phoenix office over the weekend. Hobbs condemned the suspicious mail that was sent to her opponent's campaign, calling it "incredibly concerning." The Lake campaign and Phoenix police did not immediately respond to a request for more details. Lake was not at the Phoenix office when the mail was received, she said. Neither the FBI statement, nor those from the Phoenix police of fire departments, referred to Lake or her campaign by name.

☆ European shares gain ground on boost from travel stocks
▼ + stars: | 2022-11-07 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Flutter, Ryanair lead travel stocks higherTravel & leisure index hits near 3-month highsChina-exposed luxury companies declineIrish stocks rallyNov 7 (Reuters) - European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index (.STOXX) added 0.6% by 0929 GMT, extending gains after its fourth straight weekly rise. Flutter Entertainment Plc rose 4.5%, boosting European travel & leisure stocks (.SXTP) by 2.3% and helping it touch a near three-month high. European luxury stocks, including LVMH (LVMH.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA), dipped between 0.1% and 0.4%. Dutch fertiliser maker OCI (OCI.AS) fell 3.7% to the bottom of the STOXX 600 after J.P. Morgan cut its rating on the stock on softer quarterly outlook.

[1/2] The U.S. Supreme Court building is seen in Washington, U.S., June 26, 2022. The Senate has the authority to confirm a president's nominees to the federal judiciary including the Supreme Court. Biden's Republican predecessor Donald Trump put a major emphasis on getting judicial nominations confirmed as he worked to move the judiciary rightward. If Democrats retain control, Biden has a chance to match or surpass Trump's mark of having 234 judicial nominees confirmed over four years. Circuit courts are the regional federal appellate courts one step below the Supreme Court.

WASHINGTON, Nov 4 (Reuters) - North Carolina officials have registered 14 instances of potential intimidation or interference with voters and election officials in the run-up to Tuesday's U.S. midterm elections, according to records provided to Reuters on Friday. Incident reports released to Reuters on Friday show that the North Carolina State Board of Elections is tracking eight instances of potential voter intimidation, one of potential voter interference and five of potential interference with election workers during early voting. Arizona late last month asked the Justice Department to investigate a case of possible voter intimidation, and officials there have since said they have observed several more possible instances of intimidation. Most of the North Carolina incidents, which were described in only general terms, involved photographing, videotaping or yelling at voters and officials, the reports show. North Carolina officials noted unusually aggressive observers during May's primary election in 16 counties.

HISTORICAL HEADWINDSThe party in power typically loses House seats halfway through a president's four-year term. Democratic President Barack Obama described his party's loss of 63 House seats in the 2010 election as a "shellacking." In 2018, two years into Donald Trump’s presidency, the Republican Party gave up 41 House seats. By comparison, 20 Republican House members announced retirement or that they were seeking another office. Even as the price of gasoline and some consumer goods have come down, the Federal Reserve has taken aggressive steps to control inflation that could slow growth.

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