What Donald Trump’s victory means for the economy

1 hour and 13 minutes ago

Former President Donald Trump’s victory in the 2024 presidential election puts the US economy on a path of higher tariffs, lower taxes and deregulation.

His victory has immediate and long-term consequences for the US economy. In the short term, the US avoids the uncertainty and disruption of the delayed outcome could have caused.

In the long run, Trump will have a chance to implement the vision laid out during his campaign, though his ability to do so will depend on which party controls the House of Representatives, and several of those races have yet to be called.

Read on full article here.

–Dickon Hyatt

Tesla Jumps as Musk Seen Winning Under Trump’s Presidency

1 hour 36 min ago

Tesla shares (TSLA) rose 12% in recent premarket trading on Wednesday, on investor bets that the Elon Musk-led electric vehicle (EV) maker will be a major beneficiary of Donald Trump’s return to the presidency.

Tesla CEO Musk, an outspoken Trump supporter, is expected to become a prominent adviser to the president.

Tesla’s prospects under a Trump presidency are less clear, however. Trump is not a proponent of clean energy, while Tesla was benefited from THE The Inflation Relief Act of 2022signed by President Joe Biden. Tesla also benefited from 100 percent tariffs on Chinese electric vehicles imposed by Biden, which shielded the electric vehicle maker from an onslaught of cars from the Asian nation — which is also a major market for the company.

Wedbush analyst Dan Ives, who has an “outperform” rating on the electric vehicle maker’s stock, said Sunday that the possibility of a trade war with China could weigh on the company. But Ives noted that a Trump presidency could mark a more welcoming environment for the company’s autonomy initiatives.

–Nisha Gopalan

Trump Media stock value in pre-market trading

2 hours and 51 minutes ago

Shares of Trump Media and Technology Group (DJT) jumped in pre-market trading with former President Donald Trump poised to win re-election to the White House.

Shares of the social media company recently traded around $45, indicating an open of more than 30% above Tuesday’s close. The move would extend a jump from September lows below $12, which was marked by big swings in the value of the company.

The company, which owns the Truth Social platform, reported its latest quarterly financial results last night, posting revenue of $1 million in the third quarter and a net loss of just over $19 million. In its press release, executives cited a “legion of retail investors” who own the stock.

The company “continues to explore additional growth opportunities, such as potential mergers and acquisitions with companies that would benefit from Trump Media’s technology and branding, including in fintech,” CEO Devin Nunes said in a statement.

Trump is the majority owner of the company’s shares.

–David Marino-Nachison

Major indexes are poised to rise at Wednesday’s open

3 hours 23 minutes ago

Dow Jones Industrial Average futures rose 3%.

S&P 500 futures rose 2.3%.

Nasdaq 100 futures rose 1.7%.