Risk-Off Sentiment Returns, NYC Election Day | Bloomberg Businessweek Daily 11/4/2025

Frances Katzen, a broker at Douglas Elliman, highlights the significance of this year's New York City mayoral election. She discusses the ongoing challenges of affordability and inventory that are impacting the city's real estate market, keeping prices high.

Kathy Wylde, the president and CEO of Partnership for New York City, reassures that a potential win by NYC Mayoral frontrunner Zohran Mamdani won't lead to a crisis for businesses or a mass departure of wealthy residents from the city.

In the recent elections, at least 26 billionaires contributed to groups that opposed Zohran Mamdani, the democratic socialist candidate for mayor of New York City. This significant financial backing highlights the influence of wealthy donors in local politics.

As New Yorkers prepare to vote for a new mayor, Democratic candidate Zohran Mamdani is leading in the polls against independent Andrew Cuomo. Mamdani expressed that any victory would be seen as a mandate, highlighting the significance of the upcoming election.

Zohran Mamdani is entering Election Day with a strong lead in the race for New York City mayor, positioning him as the favorite to win. This is significant not only for Mamdani, a democratic socialist, but also for the political landscape of NYC, as he competes against notable figures like former governor Andrew Cuomo and Republican Curtis Sliwa. The outcome could reshape the city's future and reflect changing voter sentiments.

The New York mayoral race is shaping up to be a significant test of economic populism, with candidate Mamdani challenging the established political figure Cuomo. This election is not just about local governance; it reflects a broader generational and ideological divide that could influence political dynamics across the nation. As voters weigh their options, the outcome may set a precedent for future elections, making it a pivotal moment in American politics.

Polls have opened in New York City for a historic mayoral election, where voters will choose between Democratic nominee Zohran Mamdani, independent Andrew Cuomo, and Republican Curtis Sliwa. Mamdani, who has been leading in the polls, is generating excitement among younger voters with his plans to make the city more affordable, while his tax proposals for the wealthy have raised concerns among Wall Street leaders. This election is significant as it reflects the changing priorities of New Yorkers and could shape the city's future.

Stocks are taking a hit as major Wall Street leaders, including Mike Gitlin from Capital Group and David Solomon of Goldman Sachs, express concerns over high market valuations. This has led to a decline in US equity futures. Palantir, despite a boost in its revenue outlook and a surge in sales, is struggling to win over investors, reflecting the broader market's apprehension. Meanwhile, voters in New York City are gearing up to choose their next mayor, adding another layer of uncertainty to the economic landscape. This situation is significant as it highlights the fragility of market confidence and the potential for a broader economic impact.

Apollo CEO Marc Rowan has reassured investors by addressing concerns regarding the health of the private-credit asset class, easing worries and highlighting the stability of the sector.

Apollo CEO Marc Rowan has reassured investors by addressing concerns regarding the health of the private-credit asset class, easing worries and highlighting the sector's resilience.

Aviat Networks reported a remarkable 21.4% increase in revenue for Q1 FY2026, surpassing market expectations. This growth highlights the company's strong performance and positive outlook in the telecommunications sector.

Stoke Therapeutics recently presented its Q3 2025 results, showcasing impressive revenue growth alongside significant advancements in its clinical programs. The company's progress highlights its commitment to developing innovative therapies, making it a key player in the biotechnology sector.

Amgen has reported a 12% increase in revenue for Q3 2025, prompting the company to raise its guidance due to strong product performance. This positive trend highlights the effectiveness of their strategies and the growing demand for their offerings.

Corsair's Q3 2025 slides indicate a strong growth trajectory, despite missing earnings forecasts. The company is navigating challenges while showcasing resilience in its performance.