Tuesday morning headlines

Wall Street anticipation: Expect a pretty low-key session as traders await the results of the election. A Democratic takeover of the House is widely expected - and with it, the prospect of legislative gridlock for the next two years. The betting is that the Senate will remain in GOP hands. In some ways, the markets like gridlock because it minimizes the possibility of more federal regulations.

Sitcom slump: NBC's decision to run cheapo game shows and reality fare in the 8-9 p.m. hour is more bad news for sitcom writers, who already had been facing a soft market for comedies. From LAT story:

NBC's move is especially disheartening for writers who recall the 8 o'clock hour as the launching pad for some of the industry's most successful and celebrated situation comedies, including NBC blockbusters "Friends" and "The Cosby Show." "It's a huge development," said Daniel Petrie Jr., former president of the Writers Guild of America, West. "It gives a sense of surrender on the part of one of the largest and most historical networks."

Port plan: The Ports of Long Beach and Los Angeles want the entire fleet of diesel trucks to be replaced within five years as part of a plan to reduce reduce pollution from ships, trains, terminal equipment and harbor craft by 45 percent. The plan also calls for the increased use of electricity to power marine vessels. The port commissions are scheduled to vote Nov. 20.

Borat backstory: Fox decided to reduce the number of screens showing the Sacha Baron Cohen comedy on its opening weekend in order generate buzz, which is exactly what happened. The studio is expanding the film to 2,400 theaters this weekend (requests came in from 3,500).

Will gas prices ever rise?: Yes, and pretty soon. Inventories are shrinking and oil prices have been edging higher (though they're down this morning). Meanwhile, pump prices are nearing the $2 a gallon mark in parts of Socal. LAT spoke to Stephen Leeb, editor of a monthly investment newsletter.

"I think they're going to rise. Not necessarily because they were overtly manipulated but because inventories have been going down and you're now going to see OPEC cuts kick in," said Leeb, who wrote "The Oil Factor," a book predicting an era of turbulent oil prices. "The rhetoric from OPEC is that they are pretty determined to keep oil around $60."

Mac cuisine: Fruit n' Yogurt Parfait served in a shooter glass. Tomato bruchetta served on a parmesan cone. No, it's not the menu at some high-end restaurant, but the fare that McDonald's is working on at its production center in City of Industry. It's a fully-functioning company restaurant used for commercials and special events.

Business chat: This morning's KPCC business update with Steven Julian (6:55 and 9:55) covers Wachovia's expansion plans in California, Dreamworks' stock and ZIP codes with the highest incomes.