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President Trump told CBS News he is prepared to veto Democratic legislation and welcomes the nickname "Mr. Veto."
BREAKING: Trump says he is ready to veto Democratic legislation, per CBS
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Money
Money Tonight
with Bill & Adam
Oncast Money · Money Tonight
House flips, Trump says 'Mr. Veto'
· Fact-checked before it aired. Unconfirmed claims from this segment are not shown.
President Trump told CBS News he is prepared to veto Democratic legislation and welcomes the nickname "Mr. Veto."
Fact-check
Sources
- VERIFIED TRUE cbsnews.com NAMES: (none)
What the hosts said
BSo the House just flipped, if the projections hold. Decision Desk HQ says Democrats win control.
AAnd that's a projection, not a final call. No official result yet.
BRight. But the market's already pricing it. CNBC says a Democratic sweep could jolt stocks, Treasury yields, AI, energy, banks, defense, healthcare.
AThe question is whether it's a jolt down or a jolt up.
BThat's the thing. Wall Street hates uncertainty, but it loves gridlock. A split Congress means nothing radical gets through.
AUnless the president vetoes everything. Trump just told CBS he's ready to veto Democratic legislation. He said he welcomes the nickname 'Mr. Veto.'
BMr. Veto. That's a campaign slogan waiting to happen.
AIt's a real shift. If Democrats control the House, every bill they pass has to survive a veto threat.
BAnd the market has to figure out what that means for AI spending, energy policy, bank regulation. That's the story tonight.
ASpeaking of AI spending, there's a post going around claiming one point eight trillion dollars got wiped from the US stock market today.
BOne point eight trillion? That's a big number. I haven't seen that confirmed anywhere.
AIt's not. The account says tech stocks got crushed because AI spending isn't paying off fast enough. But the actual closing numbers aren't out yet.
BThe chip selloff is real though. Another post says the chip index fell another three point four percent and is down eleven point six percent in three days.
AAlso unverified. But the direction is right. Alphabet and Caterpillar slipped after earnings, if the midday check is accurate.
BAlphabet down eleven point seven percent? That's a beating. The market's saying AI capex is a problem, not a promise.
AMy take: the market's been looking for a reason to sell tech. AI spending is the excuse, not the cause.
BNo, come on. When Google's own earnings show AI costs eating margins, that's not an excuse. That's a fundamental problem.
ABut the revenue is still growing. The market's just impatient. It wants AI to print money tomorrow.
BIt's been two years of 'AI will change everything.' At some point, you have to show the receipts.
AAnd if Democrats take the House, maybe there's more scrutiny on Big Tech. That's the double whammy.
BOil's also getting interesting. One post says WTI crashed seven point four percent to ninety-six dollars on hopes for US-Iran peace talks through Qatar.
AThat's unverified too, and the Qatar talks angle is still just a claim.
BCheaper oil is good for consumers, bad for energy stocks. The market can't decide if it's happy or scared.
AThat's the whole night. Election uncertainty, AI anxiety, oil whiplash. Pick your poison.
BAnd one more thing. Polymarket projects Keisha Lance Bottoms won Georgia's governor seat. First Democratic governor in twenty-four years.
AAgain, that's a prediction market, not an official result. No independent source confirms it yet.
BBut if it holds, that's a big shift. Georgia's been red for a long time.
AAnd it fits the pattern. Democrats are having a good night, if the projections are right.
BThe market's going to wake up tomorrow and try to make sense of all this. Tonight, it's just noise.
ANoise with a lot of money behind it. That's the show.
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