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WASHINGTON — Conservative lawmakers sent a strong message to House Republican Leader Kevin McCarthy on Monday, telling him he doesn't have the votes to be the next speaker. Drew Angerer / Getty Images“We expect there will be a contest tomorrow, that there will be another candidate, and I don’t think anybody’s going to get 218 votes tomorrow,” said Rep. Bob Good, R-Va., who is opposing McCarthy for speaker. Good has said that a number of Republicans will be interested in jumping into the race once they realize McCarthy can’t secure 218 votes on his own. Jordan, the founding chairman of the caucus who unsuccessfully challenged McCarthy for minority leader in 2018, also is backing McCarthy. Period.”Inside the candidates forum on Monday, McCarthy was pressed by Rep. Matt Gaetz, R-Fla., a frequent McCarthy critic, on whether he would work with Democrats to secure 218 votes for speaker.

☆ A Congressional Chief of Staff Finds a New Career as a Docent
▼ + stars: | 2022-11-14 | by ( Julie Halpert | ) www.wsj.com time to read: 1 min

Patty Sheetz gave up the gridlock and polarity of Congress for the more inspiring job of leading history tours in Alexandria, Va.From a top staff job in Congress, Patty Sheetz had a front-row seat to the making of history. Now, as a docent, she appreciates being able to step back and learn about the history of Alexandria, Va., the city where she lives. Ms. Sheetz, 67, was chief of staff for three different congressmen during the 1980s and ’90s. But over time, the schedule began to take a toll, she says. And as political polarization grew, the job became less enjoyable, and she decided it was time for a new career.

☆ Electric Vehicles Need More—and Faster—Charging Stations. How Do We Get Them?
▼ + stars: | 2022-11-13 | by ( Bart Ziegler | ) www.wsj.com time to read: 1 min

As the car industry plans a major rollout of electric vehicles, the project faces serious gridlock: There aren’t enough places to charge the vehicles, but there aren’t yet enough customers to justify a widespread expansion of charging stations. What can be done to get things moving?

☆ Exclusive: As split Congress odds increase, Yellen warns of need to lift debt ceiling
▼ + stars: | 2022-11-12 | by ( David Lawder | ) www.reuters.com time to read: +4 min

Yellen told Reuters in an interview in New Delhi on Friday that cooperation is still possible with Republicans on some issues, but lifting the debt ceiling is a non-negotiable item. Some Republicans have threatened to use the next hike in the $31.4 trillion debt ceiling as leverage to force concessions from U.S. President Joe Biden, a Democrat. U.S. public debt stood at $31.2 trillion on Wednesday and without an increase, analysts anticipate a potential default crisis by the third quarter of 2023. Asked whether Democrats should pass legislation in the post-election session, while they would still retain a majority until January, regardless of the election outcome Yellen said raising the debt ceiling was urgently needed. "I think it's irresponsible not to raise the debt ceiling.

But after his 19% margin win on Tuesday over Democrat Charlie Crist, DeSantis may in fact be the Republican Party’s savior. Somebody needs to deliver the GOP from Trump, and from that victory margin to his polling ahead of the former president, signs point to DeSantis as The One. The cheeky right-aligned New York Post on Wednesday ran a “DeFuture” cover of the DeSantis family (“Young GOP star DeSantis romps to victory in Florida”). Trump versus DeSantis is a fight between two men with messiah complexes who want us to believe each is the leader America needs. Could DeSantis win a national election?

☆ Exclusive: Yellen warns of need to lift debt ceiling
▼ + stars: | 2022-11-12 | by ( David Lawder | ) www.reuters.com time to read: +4 min

Yellen told Reuters in an interview in New Delhi on Friday that cooperation is still possible with Republicans on some issues, but lifting the debt ceiling is a non-negotiable item. Some Republicans have threatened to use the next hike in the $31.4 trillion debt ceiling as leverage to force concessions from U.S. President Joe Biden, a Democrat. Asked whether Democrats should pass legislation in the post-election session, while they would still retain a majority until January, regardless of the election outcome Yellen said raising the debt ceiling was urgently needed. "I think it's irresponsible not to raise the debt ceiling. "We're certainly going to try to protect the gains we've made over the last year and a half," Yellen said.

LONDON, Nov 11 (Reuters) - Defusing this year's single biggest shock to the world economy could catalyze a rebound in global markets many investors feel is overdue - but may also raise other uncomfortable conundrums. Murmurs about some endgame in the 9-month-old Russian invasion of Ukraine - suggestions of anything from 'talks about talks' to some negotiated ceasefire - have swirled in media over the past week. All were watched as intently by global investors as much as politicians or military strategists. Western sanctions slapped on Moscow seeded an energy and food price explosion that compounded and elongated the post-pandemic inflation spike around the world. US Geopolitical RiskUS inflation, Fed rates and marketsThe opinions expressed here are those of the author, a columnist for Reuters.

☆ Stock market rally will be put to test in week ahead, after yields fall and tech surges
▼ + stars: | 2022-11-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +10 min

This week, bond yields also came off their highs and were sharply lower, paving the way for gains in tech and growth shares. They include Fed Vice Chair Lael Brainard, New York Fed President John Williams and Minneapolis Fed President Neel Kashkari to name a few. Hogan said that group includes Bullard, Brainard and San Francisco Fed President Mary Daly. Many strategists are calling the move higher a bear market rally, and some expect it will fizzle in December while others say it could continue into the new year. Friday Earnings: JD.com, Foot Locker, Buckle 8:40 a.m. Boston Fed President Susan Collins 10:00 a.m.

☆ This midterm election outcome is 'typically good for markets': What investors can expect
▼ + stars: | 2022-11-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Election workers open mail in ballots at the Maricopa County Tabulation and Election Center in Phoenix on Nov. 11, 2022. "We still effectively have kind of a balanced government, which is actually something markets usually like," Egan said. "This is typically good for markets as it reduces policy and regulatory risk," she said. Keep in mind how little control any given set of politicians has over the stock market or the economy in general. What's more, if you take investment risk off the table in response to the results, you could miss out on the market's upside.

☆ Instant View: Comfortably cool U.S. CPI suggests aggressive Fed hikes taking hold
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +5 min

read moreMARKET REACTION:STOCKS: S&P 500 futures turned sharply higher and were up 3.1%BONDS: The yield on 10-year Treasury notes tumbled and was down 21.5 basis points at 3.927%; The two-year U.S. Treasury yield was down 26.6 basis points at 4.362%. The dollar index was off 1.3%COMMENTS:BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“Well, that was a relief. And I think the expectation now is the Fed hikes rates 50 basis points in December. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK"A softer than expected inflation report is acting as a tailwind for markets. "Given just this data, it would allow the Fed to raise by only 50 basis points rather than 75 at the next meeting.

☆ VIEW Comfortably cool US Oct CPI spells relief for Fed
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +4 min

And I think the expectation now is the Fed hikes rates 50 basis points in December. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK"A softer than expected inflation report is acting as a tailwind for markets. Next, we immediately turned our attention to the CPI and that clearly came in better than expected. It rocketed the futures higher and then to top it off, weekly initial unemployment claims came in higher than expected. "Given just this data, it would allow the Fed to raise by only 50 basis points rather than 75 at the next meeting.

☆ 3 Markets rejoice after surprisingly cool inflation report
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +9 min

YUNG-YU MA, CHIEF INVESTMENT STRATEGIST, BMO WEALTH MANAGEMENT, CHICAGO“The better-than-expected CPI numbers are welcome but show a lot of underlying volatility. What Powell said is that we are going to need a few more reads on good CPI data before he can say we’re done." Shelter is the main contributor to inflation and everyone should know by now that it’s a garbage indicator of where inflation is headed. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK"A softer than expected inflation report is acting as a tailwind for markets. “The good news is that we saw a significant sequential improvement, inflation is clearly moving in the right direction.

☆ ASEAN summit begins with Myanmar likely to dominate agenda; 'little progress expected'
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +4 min

Cambodian Prime Minister and ASEAN host Hun Sen addressed Friday's opening ceremony with a call for vigilance and wisdom during times of economic and geopolitical turmoil. The junta has blamed a lack of progress on the pandemic and obstruction from armed resistance movements that it calls terrorists. James Crabtree, Executive Director of the International Institute for Strategic Studies-Asia, said ASEAN was struggling to cope with internal divisions over Myanmar and other issues. One Western diplomat who will attend the meeting said that while the bloc may try to make the Myanmar peace plan more action-oriented, "little progress is expected". G20 leaders are meeting in Bali next week and the Asia-Pacific Economic Cooperation (APEC) forum will take place in Bangkok after that.

☆ Comfortably cool US CPI suggests aggressive Fed hikes taking hold
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +5 min

read moreMARKET REACTION:STOCKS: S&P 500 futures turned sharply higher and were up 3.1%BONDS: The yield on 10-year Treasury notes tumbled and was down 21.5 basis points at 3.927%; The two-year U.S. Treasury yield was down 26.6 basis points at 4.362%. And I think the expectation now is the Fed hikes rates 50 basis points in December. ART HOGAN, CHIEF MARKET STRATEGIST, B. RILEY WEALTH, NEW YORK"A softer than expected inflation report is acting as a tailwind for markets. Next, we immediately turned our attention to the CPI and that clearly came in better than expected. "Given just this data, it would allow the Fed to raise by only 50 basis points rather than 75 at the next meeting.

Results of Tuesday's election remain uncertain, with President Joe Biden's Democratic Party performing better than expected and potentially in position to retain control of the Senate. "This will be de facto gridlock regardless of the outcome," said Brian Gardner, Washington-based strategist for Stifel. But it can also gum up the wheels of basic governance and pose its own set of risks. But it also may have helped trigger the current round of inflation, and has pushed U.S. public debt to record levels. That may mean a more reluctant fiscal response to any coming downturn.

The market can accept gridlock," said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 has risen in every 12-month period following the U.S. midterm elections over the past 70 yearsAt 6:21 a.m. ET, Dow e-minis were down 67 points, or 0.2%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 8.5 points, or 0.08%. Meanwhile, some market participants expect October U.S. inflation data due on Thursday to be more market-moving. read moreReporting by Medha Singh and Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

European stock markets were lower (.STOXX), U.S. equity futures , were mixed and Asian shares (.MIAPJ0000PUS) edged up as the U.S. midterm election results rolled in. This all left MSCI's World Stock Index (.MIWD00000PUS) stuck just below Tuesday's seven-week peak. "U.S. stock futures are pushing higher on the idea of political gridlock being favourable for stocks, as it has been historically." Stuart Cole, head macro economist at Equiti Capital said potential political gridlock in Washington likely meant the end of tax rises on corporations and the well-off proposed by President Joe Biden. Reuters GraphicsIn Asia, Japan's blue-chip Nikkei stock index (.N225) retreated from a two-month high as poor results from videogame maker Nintendo weighed.

☆ Wall Street awaits midterm vote tallies
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +6 min

Republicans were favored to win control of the House of Representatives and possibly the Senate, polls and betting markets showed earlier, though it may be hours before all vote tallies are known. read moreCOMMENTS:CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"The race seems to be closer than expected, especially for the Senate. "That said, if the Republicans take the Senate along with the House that provides a pro-business backdrop for the market." "A Republican win will in generally be positive for equities, but inflationary risk is unlikely to be mitigated nor accelerated." IPEK OZKARDESKAYA, SENIOR ANALYST, SWISSQUOTE BANK"From an investor point of view, a Republican win in both chambers is a good outcome for the stocks.

☆ Dollar catches breath while investors await midterms; cryptos skittish
▼ + stars: | 2022-11-09 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The greenback has been under downward pressure from bets on the Federal Reserve easing back on interest rate rises and on China reopening and driving growth. It touched multi-week lows against the euro, Australian dollar and New Zealand dollar overnight, then edged off those levels during the Asia session. Some analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending. MORE TO DOLooming on Thursday is U.S. inflation data. The New Zealand dollar wobbled 0.3% lower to $0.5942.

☆ Asia stocks advance as investors await U.S. midterm election results
▼ + stars: | 2022-11-09 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.45% higher, while Japan's Nikkei (.N225) rose 0.2% and Australian stocks (.AXJO) gained 0.70%. China stocks soared last week on hopes that authorities in the country would relax their zero-COVID policy, but rising COVID-19 cases have tempered expectations. Results of the U.S. midterm elections will decide whether the Democrats lose or retain congressional control halfway through President Joe Biden's term, with investors expecting Republican gains. /FRXOil prices were mostly unchanged in early trade on Wednesday, after sliding 3% in the previous session on demand worries. U.S. crude recently fell 0.01% to $88.90 per barrel and Brent was at $95.40, up 0.04% on the day.

☆ 2 Wall Street awaits midterm vote tallies in upbeat mood
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Wall Street ended higher on Tuesday during voting in midterm elections that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though it may be hours before all vote tallies are known. BROOKS RITCHEY, CO-CIO, K2 ADVISORS"If we get a split Congress, we might have to adjust our portfolios to be less defensive than we are today." JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET CAPITAL, CHICAGO"I think the markets are rallying at the prospect of gridlock." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

That could support a rally in 10-year Treasury bonds and help stocks extend their recent gains, they said. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. Historically, stocks have tended to do better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents major policy changes. The benchmark index has risen about 5% over the last month, cutting its year-to-date decline to about 20%. With U.S. equity options market positioned for relative calm, a surprisingly strong showing by Democrats could upend markets.

☆ Dollar wobbles while investors await midterms; cryptos skittish
▼ + stars: | 2022-11-09 | by ( Tom Westbrook | Anant Chandak | ) www.reuters.com time to read: +2 min

It touched multi-week lows against the euro, Australian dollar and New Zealand dollar overnight, then edged off those levels early in the Asia session. "We all know the dollar will probably turn at some point - when is the big question," said Bank of Singapore currency analyst Moh Siong Sim. Investors expect Republican gains, and some analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending. On Thursday, U.S. inflation data is on the horizon. The New Zealand dollar wobbled 0.1% lower to $0.5951.

The first election to put abortion rights to the test after the Supreme Court overturned Roe v. Wade appears unlikely to reshape the map of abortion access — at least not overnight. States that protect abortion access Mixed results New protections Existing protections Results pending States that restrict abortion access Results pending New restrictions likely Mixed results Existing restrictionsResults pending in races affecting abortion Arizona Montana Nebraska PennsylvaniaMany of the most competitive state-level races with consequences for abortion were too close to call on Wednesday. Gretchen Whitmer and Attorney General Dana Nessel, both Democrats who pledged to protect abortion rights, won re-election. But two candidates for the State Supreme Court who were backed by anti-abortion groups did not win their races. Mr. Cooper, a Democrat, opposes abortion restrictions, and Republicans failed to secure a supermajority in the Legislature that would have allowed them to override his veto.

☆ Here's what the midterm election results could mean for energy ETFs
▼ + stars: | 2022-11-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Energy has been a key political topic this year, with soaring oil prices leading to discussions about how to boost U.S. energy production. "Sector-focused policy changes would be even more limited under a divided Congress than under Republican control. That could be good news for the clean energy policies pushed in the Inflation Reduction Act, which included several provisions to boost green energy that some Republicans opposed. Some progressive lawmakers had resisted the idea, which could ease the process for approving new oil pipelines and green energy projects. Pipeline funds Tortoise North American Pipeline fund (TPYP) and Global X MPL & Energy Infrastructure ETF (MLPX) were outperforming traditional energy funds on Wednesday, but still lower as oil prices declined.

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