WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes.
· The election is far from decided at this midnight hour but it’s clear the blue wave was a fantasy, that the race turned out to be very tight with most states that went for Donald Trump in 2016 doing the same in 2020 and in many cases he did better this time. Arizona seems to be the exception, having already been called for Joe Biden by Fox, but with others holding back. It all, then, could come down to Pennsylvania, Michigan and Wisconsin – with emphasis on Pennsylvania. No one knows when Pennsylvania’s vote will be finaled out but it won’t be any time soon. And Pennsylvania triggers an automatic recount if the winning difference is half a percentage point or less.
· Democrats kept the House of Representatives and there may still have a chance for the Senate with more than a dozen races undecided. One runoff is set for January with Sen. Kelly Loeffler against Democrat Raphael Warnock.
· Trump tweets after midnight: “We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Poles are closed!” Yes, it’s Polls, Mr. President but we get the idea, Pennsylvania will be litigated and the accusations will not be restrained. Twitter was quick to tag the tweet as “disputed.”
· Joe Biden spoke to a parking lot full of cars honking their horns. “We feel we’re on track to win this election,” and, “We’re feeling real good about Wisconsin and Michigan” and are “going to win Pennsylvania. “ He added, “I’m optimistic about this outcome.”
· Upcoming economic data not too long from now will be the MBA weekly total of mortgage applications at 7a ET, ADP/Moody’s Analytics will preview Friday’s jobs reports at 8:15p ET. The monthly trade report arrives at 8:30a along with Treasury’s quarterly refunding announcement how it will refinance debt. And the FOMC begins its two-day meeting.
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