Harris Concedes Election, Congratulates Trump On Victory

Newsletter Nov 7, 2024

Quick Six

Harris concedes election, congratulates Trump on victory
Vice President Kamala Harris congratulated Republican rival Donald Trump on his victory and called on Americans to unify one day after suffering a surprisingly lopsided loss in the 2024 presidential election. Harris asked supporters to keep up the fight while wishing Trump well in his second term. Despite polls showing the race was a dead heat with the winner to be determined by a small group of swing states, Trump ran the table in those critical battlegrounds. He held a 291-223 lead in the electoral college vote with a handful of states still to be decided.
SEE HOW TRUMP'S VICTORY TARNISHED BIDEN'S LEGACY

Stock market explodes to record highs after Trump elected
U.S. stock markets made sharp gains Wednesday after Donald Trump was elected president in the 2024 election, with investors optimistic about the future of the economy. The Dow Jones Industrial Average gained 1,508.05 points, a 3.57% climb, to set a record high. So did the NASDAQ Composite (up 544.29 points, or 2.95%) and the S&P 500 (up 146.28 points, or 2.53%). Bitcoin also hit a record high of 75,651.42 (up 9.07%) as Trump is expected to be much friendlier to the cryptocurrency markets
WHY ELON MUSK WAS THE BIG WINNER ON WALL STREET

'Drill, baby, drill': Trump win raises questions for oil sector
Donald Trump's election returns a champion of the oil industry to the White House, but experts warn that his push for low prices could be at odds with petroleum companies' priorities. Trump repeatedly said he would "unleash" the US oil sector by boosting production and curbing the move for renewable energy. Trump's vow to press for aggressive oil and gas development is, however, something experts say is not the energy sector's main priority.
SEE WHAT ANALYSTS SAY ABOUT TRUMP'S OIL POLICIES

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Markets

DJIA	43,729.93	3.57%
S&P 500	5,929.04	2.53%
Nasdaq Composite	18,983.47	2.95%
Japan: Nikkei 225	39,289.76	-0.48%
UK: FTSE 100	8,166.68	-0.07%
Crude Oil Futures	71.97	0.39%
Gold Futures	2,655.90	-0.76%
Yen	154.51	-0.08%
Euro	1.07	-0.10%
* As of market close

Trump's legal cases likely to be dismissed

Most of President-elect Donald Trump's legal woes will go away due to a long-held policy by the Department of Justice against prosecuting a sitting president. The policy stemmed from a memorandum that said a sitting president could not be indicted or prosecuted because it "would unconstitutionally undermine the capacity of the executive branch to perform its constitutionally assigned functions." While Trump said he'd fire special counsel Jack Smith "within two seconds" of being re-elected to a second term, it no longer seems necessary. Smith is already taking steps to end both federal cases against Trump before he takes office.

SEE THE LIST OF TRUMP'S LEGAL CASES LIKELY TO GO AWAY

Trump's triumph destroys Biden's legacy

President Joe Biden hoped Kamala Harris would salvage his legacy as the man who saved America from Donald Trump. Instead, it lies in tatters. A disastrous debate against Trump forced him to drop his bid for a second term and "pass the torch" to Harris. Had she won, he would have been able to boast a list of achievements in his one term that included guiding the country out of the Covid crisis, passing historic legislation, building infrastructure and promoting green energy. All those accomplishments are called into question with Trump's win.

HOW BIDEN'S AGE, MENTAL HEALTH DIMINISHED HIS LEGACY

Olympic breaker 'Raygun' calls it a career

Australian breakdancer Rachael "Raygun" Gunn retired Wednesday, citing a "really upsetting" backlash following her performance at the Paris Olympics. Raygun, 37, became a global laughing stock after her unorthodox routine, including kangaroo hops and imitating a sprinkler, failed to impress the judges and fans at the Games. Gunn, a university lecturer, said the intense scrutiny had been "really upsetting", and she had decided to pull the plug on her breakdancing career.

SEE RAYGUN'S WILD RIDE SINCE COMPETING IN PARIS GAMES

Extra point

Breakdancing is the latest Olympic sport. What are the five oldest?

Wednesday's answer: Tamarack, California holds the record for the deepest snowfall measured on earth of 884 inches (73.7 feet) in 1911.

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