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What a second Trump administration could mean for America with a GOP-led Congress

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What a second Trump administration could mean for America with a GOP-led Congress – CBS News


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With Republicans projected to control the Senate and potentially the House, Robert Costa and Ed O’Keefe break down what a Trump agenda might look like in a united GOP government.

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How Trump’s win unfolded, key states he flipped to secure victory

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How Trump’s win unfolded, key states he flipped to secure victory – CBS News


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Donald Trump flipped critical battleground states, including Pennsylvania, Wisconsin and Georgia. CBS News executive director of elections and surveys Anthony Salvanto and Chief Washington correspondent Major Garrett break down how these states shifted to deliver Trump the presidency and a Republican-controlled Senate.

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Donald Trump election win turbocharges stocks, cryptocurrency and Trump Media

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Donald Trump becomes president-elect after 2024 election


Donald Trump becomes president-elect after 2024 election

03:34

Donald Trump’s projected victory at the polls is giving a fresh boost to stocks.

Dow futures soared nearly 1,400 points, or 3.2%, lifting the blue-chip market into record terrain before the start of trade on Wednesday. S&P 500 futures were up more than 2%, while the tech-heavy Nasdaq Composite also looked set to open strong. 

Cryptocurrency is also surging as investors bet that the second Trump administration will benefit the volatile sector. Bitcoin prices rose nearly 8% to a record $75,345.00 in early trading, before dipping to about $73,500. 

The former president, who was once critical of digital currencies, pledged during his campaign against Vice President Kamala Harris to make the U.S. the “crypto capital of the planet” and to create a bitcoin “strategic reserve.”

“Bitcoin is the one asset that was always going to soar if Trump returned to the White House,” said Russ Mould, investment director at AJ Bell, a British online investment platform. 

“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” he added.

The Republican Party’s electoral success on Tuesday, which included winning control of the Senate, is also benefiting Trump’s personal finances by boosting the stock price of Trump Media & Technology Group. Shares in the company, which owns the social network Truth Social and in which Trump owns a stake valued at more than $5 billion, jumped nearly 38% to $46.80 before markets opened. 

Although markets have pushed to new highs this year, Wall Street analysts warn that some of Trump’s key policy proposals could rekindle U.S. inflation, dampen economic growth and drive up the nation’s debts. 

The Federal Reserve will offer its latest readout on the state of the economy on Thursday, with Wall Street analysts expecting the central bank to lower its benchmark interest rate by a quarter of a percentage point. The Fed in September dropped borrowing costs by 0.50 percentage points, its first cut since 2020.

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