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Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

<ul class="summary-list"><li>Polls close Tuesday night, but it's unclear when we'll know the results of the 2024 election.</li><li>Some states' election laws allow for some votes to be counted before polls close; others do not.</li></ul>After nearly two years of campaigning, two assassination attempts, and an unprecedented decision by the sitting president to drop out of the race, the 2024 US presidential election is coming to an end.Polls have closed in some places, and results will begin rolling in soon.The <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-states-sun-belt-polls-2024-11">final week</a> of the race between Vice President <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris">Kamala Harris</a> and former President <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump">Donald Trump</a> was all about outrage, with each candidate trying to <a target="_blank" class="" href="https://www.businessinsider.com/election-trump-harris-outrage-garbage-mark-cuban-puerto-rico-2024-11">amplify controversial comments</a> from the other's camp to try to shake up a race in which <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-state-polls-photo-finish-2024-11">polls remained incredibly tight</a> to the end.The election is expected to come down to just seven states that polling has indicated either candidate could win: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.Each state has different election laws, and some are expected to take longer than others to count the vote. If the race is as tight as polling suggests, there's a very good chance we won't know who won the election until sometime after Tuesday night.Here's the latest — and what to watch for.<h2 id="15729b0a-41c1-4bdf-969a-d43a46391721">When we'll know the results in each state</h2>In some states, we may know the results pretty quickly. In others, counting may take days. Poll closing times listed below are in Eastern Time.7 p.m. — Polls close in Georgia, where a winner could be declared by late Tuesday night. Though the state took days to process mail-in ballots in 2020, a new law allowed election officials to begin tabulating those votes Tuesday morning, speeding up the process.7:30 p.m. — Polls close in North Carolina, which has historically counted votes quickly. A winner could be declared Tuesday night.8 p.m. — Polls close in Michigan and Pennsylvania. Michigan is expected to count ballots relatively quickly and could announce a result Tuesday night or early Wednesday.But the Pennsylvania count is expected to take days. That's because the election is expected to be so close in the Keystone State and because a big chunk of the electorate votes by mail, and officials can't begin to count those votes until polls close.In 2020, most news outlets didn't call Pennsylvania until Saturday — at which point Joe Biden became president-elect.9 p.m. — Polls close in Wisconsin and Arizona. We may not know the <a target="_blank" class="" href="https://www.cnn.com/2024/09/22/politics/vote-counting-delays-election-states/index.html">results in Wisconsin</a> until Wednesday, a state election official told CNN in September, in part because of the amount of time it takes to count absentee ballots in the heavily Democratic city of Milwaukee.Like Pennsylvania, Arizona's vote count is expected to take days, given that most of the electorate is expected to vote by mail. Initial results probably won't be available until 10 p.m.10 p.m. — Polls close in Nevada, which could also take days to count, given that most of the state is expected to vote by mail.<h2 id="7329bb1b-3a45-4204-887d-e708e935be38">How to read the Electoral College math</h2>The US uses the Electoral College to elect a president. Each state gets a set number of votes that correlates with its population — if a state has two US senators and three House members, it has five electoral votes.The winner must get at least 270 electoral votes — a majority of the 538 total. In the vast majority of states, either Harris or Trump is widely expected to win, leaving the campaigns to fight over the 93 electoral votes up for grabs in the seven battleground states.If Harris wins Georgia, North Carolina, and Michigan on Tuesday night or early Wednesday, she will have a projected 273 electoral votes — enough to make her the winner.If Trump sweeps those states, he'll have a projected 266 electoral votes — not enough to be declared the winner but it would him in a very strong position to win.Harris' easiest path to victory would be to win the traditional "blue wall" states of Pennsylvania, Michigan, and Wisconsin — a result that should put her at 270 electoral votes. She has generally polled better in these states than the Sun Belt states of Arizona, Nevada, Georgia, and North Carolina.For Trump, one path to victory would involve holding on to all or most of the Sun Belt states while also winning Pennsylvania, Michigan, or Wisconsin.

Election results are coming in soon. Here's where things stand.

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/apple">Apple</a> offers live Election Day results on your iPhone home and lockscreen through its News app.</li><li>You don't need an Apple News+ subscription to access live election updates on iPhones.</li></ul>Apple News is in full-blown <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-states-sun-belt-polls-2024-11">Election Day</a> mode — and that includes a nifty feature that lets you track the results right from your iPhone lockscreen.The winning candidate will need at least 270 electoral votes to secure victory, and you can keep up with where swing states land at a glance, without having to unlock your iPhone.The feature is available via the <a target="_blank" class="" href="https://www.businessinsider.com/publishers-worried-about-apple-news-2015-6">News app</a>, which is owned by Apple, and you don't need an Apple News+ subscription to enable it.To turn it on, start by opening up the News app on your iPhone.Apple might prompt you to allow live election updates "starting Tuesday night" as soon as you open up the app. If so, click the "Follow Live" button and you're all set.Those who don't get the pop-up message should check the "Today" section of the app. There, you should find another clickable prompt under the "Top Stories" banner that will enable real-time election results.<div type="image" title="Apple News message" height="968" width="1290" msid="114992652" hostid="261" sizebytes="51810"></div>Once you've turned on the election tracker, you should receive a confirmation message that live activity has been scheduled.The News app comes automatically downloaded to your iPhone, but if you have deleted it, you can re-download it from the App Store.With polls closing on Tuesday night and many people voting after work, there's no guarantee that a winner will be projected on Tuesday night. States like Arizona, Michigan, and Georgia will be critical for both <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-iowa-polling-lead-swing-states-2024-11">Vice President Kamala Harris</a> and former President Donald Trump in this election.For those who decide that having the results staring up at them from their phone's lockscreen is too much, you can always pop back into the News app and turn it off by tapping the same banner prompt.

How to add Apple's election results tracker to your iPhone lockscreen

<ul class="summary-list"><li>The US dollar is likely to be the first asset to signal what markets think the election result will be.</li><li>Strong liquidity and global 24-hour trading activity make the dollar a reliable indicator.</li></ul>The US dollar might be the most important asset to watch for a potential read on the US election results as the votes are tallied this week.Raymond James' chief investment strategist David Zervos said that the US dollar will be the first asset to telegraph the likely winner as markets digest the implications of a Donald Trump or Kamala Harris presidency. In an interview with CNBC, Zervos said the dollar "will be the most liquid and the most transparent messaging to what we are getting markets to do because that's where people could put money to work fast."He highlighted that the US dollar is traded 24/7 with massive liquidity from trading parties around the world. Therefore, as election results roll in during the late hours of Tuesday night and into Wednesday morning, the dollar will likely be the first asset class to move on the results.The <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">dollar is seen as rising under a potential Trump presidency,</a> as his tariff proposals would likely raise interest rates, which in turn would lead to a stronger dollar.On the flip side, a falling US dollar would likely suggest that a Kamala Harris victory is reflected in the election results because <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">interest rates are seen as more likely to continue falling under a Harris administration,</a> putting downward pressure on the dollar.As for how to get a read on who markets think will win, <a target="_blank" class="" href="https://markets.businessinsider.com/index/us-dollar-index">the US dollar index </a>will be a strong gauge of how traders are digesting the early election results. The index measures the dollar against a basket of other major currencies and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/donald-trump-trade-rally-betting-markets-kamala-harris-bitcoin-djt-2024-10">has rallied over the past month</a> as former President Donald Trump gained momentum in the polls and in betting markets.Beyond the dollar index, Zervos said it would be important to watch moves in <a target="_blank" href="https://markets.businessinsider.com/currencies/usd-cny">the dollar relative to the Chinese renminbi</a>. "Dollar-China has been a big trade because people saw that as a real Trump winning trade, meaning he's going to go hard on China," Zervos said. "That's got a lot of crowded positioning in it. I'd be watching dollar-China very closely overnight," Zervos said.Zervos expects a relief rally in risk assets as uncertainty surrounding the election begins to fade, assuming the results are decisive and known relatively soon."I think people really want to see smoothness here, then we can just see risk assets do better, we could see credit do better. We could see the panicky trades that people might have put on get pulled off," Zervos said.Ultimately, Zervos said he'll change his stock and bond investments based on the dollar's reaction to the election results."We watch the dollar, that's our first indication of where the repositioning is taking place and then we can feed that back into bonds and stocks and different sectors," Zervos said.

Why the US dollar is the most important asset to watch as the election results come in

<ul><li>Five states voted on some form of change to the minimum wage in Tuesday's US elections.</li><li>Missouri approved a raise, while Massachusetts and Arizona rejected changing how tipped workers are paid.</li><li>Results in Alaska and California were unclear early Wednesday.</li></ul>While economic issues were a major focus of this year's <a href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11" target="_blank">US presidential election</a>, several states put pay directly on the ballot, and minimum-wage workers in at least one state are now set to get a raise after voting concluded Tuesday. Missouri, Massachusetts, California, and Alaska all had some form of referendum on their ballots on whether to hike the minimum wage paid by employers. In Massachusetts, voters were asked whether to gradually increase the share of tipped workers' pay that employers must provide, while voters in the three other states were presented with proposals for straightforward minimum-wage increases. In Arizona, voters weighed in on whether to decrease the tipped minimum wage — provided employers could show workers' wages would stay $2 above the state minimum when accounting for tips. Shortly after polls closed in Missouri, it was clear that the referendum there had passed. Voters in Massachusetts and Arizona rejected their proposals, and California and Alaska were still awaiting their results as of early Wednesday. <h2 style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255);">Missouri</h2>In Missouri, voters opted to raise the state's minimum wage to $15 an hour by 2026. Per The New York Times, roughly 58% of Missouri voters had supported the measure as of early Wednesday, with some votes still uncounted. The measure, <a href="https://www.sos.mo.gov/elections/petitions/2024BallotMeasures#:~:text=Official%20Ballot%20Title%0AProposition,Proposed%20by%20Initiative%20Petition" target="_blank">Proposition A</a>, is set to first raise the minimum wage to $13.75 an hour from $12.30 on January 1 and then increase it again to $15 an hour on January 1, 2026. Starting in 2027, the wage is set to be pegged to inflation. The measure also mandates that employers give their workers an hour of paid leave for every 30 hours they work. Missouri separately voted in favor of former President Donald Trump, who said he'd "consider" a minimum-wage hike if it proved beneficial for small businesses. His opponent, Vice President Kamala Harris, had pledged support for raising the federal minimum wage to $15 an hour from $7.25. A group of Missouri business owners in favor of the measure praised Proposition A's passage on Tuesday evening. "Proposition A will strengthen Missouri's workforce and businesses," David Burmeister, the owner of Midwest Pasta Co. in St. Louis, said in a press release. "Raising the minimum wage will increase people's ability to shop at our business and local businesses across Missouri. We've seen that paying better wages is better business. Employees are happier at work and do a better job." <h2 style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255);">Massachusetts</h2>In <a href="https://www.sec.state.ma.us/divisions/elections/publications/information-for-voters-24/quest_5.htm" target="_blank">Massachusetts</a>, employers won't be required to gradually raise tipped workers' base pay to match the state's minimum wage. The measure failed, with the Times reporting at the time of publication that 64% of voters had rejected it out of the votes counted so far. The measure, which would have begun taking shape on January 1, wouldn't have actually raised the legal minimum wage for tipped workers but instead would have raised the share of that minimum wage that employers were required to provide. Currently, Massachusetts employers are required to pay tipped workers a base pay of $6.75 an hour and then make up the difference if those workers' total pay counting tips is less than $15 an hour. The failed measure would have ultimately required employers to directly pay tipped workers the state's full minimum wage by 2029. <h2 style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255);">Arizona</h2>In Arizona, voters rejected a measure that would have let employers reduce their base pay for tipped workers. <a href="https://www.azleg.gov/alispdfs/Council/2024BallotMeasures/adopted%20analysis%20Proposition%20138%20SCR1040%20-%202024.pdf" target="_blank">Proposition 138</a> proposed allowing employers to pay tipped workers up to 25% less than the state's minimum wage, with the corollary that employers would need to establish their workers were still making the minimum wage plus an additional $2 an hour when accounting for tips. The Times reported that out of the votes counted so far, nearly 76% of voters had rejected the measure. That means that employers in Arizona can continue to pay their tipped workers $3 less than the current hourly minimum wage as long as workers are still making at least the minimum wage when accounting for tips. Correction: November 7, 2024 — An earlier version of this story included a sentence that incorrectly described the result of the ballot measure in Massachusetts. The system in which tipped workers are required to be paid at least $15 an hour through a combination of tips and a $6.75 hourly wage is the current system in Massachusetts, not a proposal on the ballot measure that voters rejected. The story was also updated to clarify the ballot results. The percentages attributed to The New York Times reflected the latest tally as votes were being counted, not New York Times projections for the final result. The specific figure of 76% in Arizona referred to the share of voters at the time who had rejected the ballot measure there, not the margin by which voters rejected the measure.

Workers in Missouri can look forward to raises after minimum-wage boosts passed

Global markets are looking ahead to the US Fed's meeting scheduled for Thursday, November 7, 2024, expecting the Jerome Powell-chaired FOMC (Federal Open Market Committee) to slash interest rates further by 0.25%. In September this year, the Fed surprised the markets by cutting interest rates by a massive 0.5%, for the first time in 4 years. As per the <keyword id="23807624" type="General" weightage="20" keywordseo="CME-Fed-Watch-Tool" source="keywords">CME Fed Watch Tool</keyword>, there is now a 99.5% chance that the Fed will reduce the interest rates by around 25 basis points, bringing it within the range of 4.5% to 4.75%. Only 0.5% believe that the Fed might leave the rates unchanged, within their present range of 4.75% to 5%. As for the Fed's December meeting, scheduled for December 18, per the CME Fed Watch tool, 79.5% believe that interest rates would be in the range of 4.25% to 4.5%. Another 20.4% believe that yields will remain in the range of 4.5% and 4.75%. Only 0.1% see the interest rates staying within their current range of 4.75% to 5% <h2>No major changes anticipated</h2>However, it is unlikely that this quarter-point rate cut would bring about any significant financial changes in the US economy. The Fed is again expected to bring down the interest rates by another 25 basis points in their December meeting. This would imply a total rate cut of about 50 basis points by the end of this year. So, why is the Fed not bringing down interest rates by 50 basis points in one fell swoop this time around? Why wait till December to bring down the rates by another 25 basis points? Experts believe that it could stoke inflation, which has seen a sharp decline in the recent past. A steep slash of borrowing rates could accelerate borrowing activity and inject significant cash into the economy at once, pushing up inflation. Per the Fed's recent projections, a total of 4 rate cuts are anticipated in 2025. On a YoY basis, inflation in the US dipped to 2.4%, close to the Fed's target of 2%. With inflationary pressures reined in, the economy growing at the rate of 2.8% during the third quarter of FY24, and the unemployment rate down to 4.1%, the markets see much merit in bringing interest rates down. This is especially important to boost spending, particularly in sectors such as housing and automobiles, where even a slight tinkering in interest rates can drastically impact the amount and volume of loans taken to own them. Data suggests that during Trump's presidency tenure, i.e., between 2017 and 2021, inflation averaged at a rate of 1.9% a year. During the Biden administration, where Kamala Harris served as VP, the inflation is on track to average around 5% a year. Shrisha Acharya, Vice President, Anand Rathi Global Finance, also notes that the results of the impending US elections, which are likely to be declared tomorrow, will impact the yields and stock markets. "The Trump card, coupled with potential Republican control, could mean higher bond yields due to anticipated increases in deficit spending, inflation risks, and potential tax cuts. This could very well jiggle the confidence in U.S. Treasury bonds and thus start a chain effect that will possibly impact global market stability and lead to short-term volatility. On the other hand, Harris’ rise has been met with a stock market rally glued on expectations of economic stability and controlled inflation, with more predictable fiscal policy likely to help in a soft landing," he explains.

What can you expect from the US Fed meeting later this week? Here's all you need to know

<ul class="summary-list"><li>US stocks were slightly higher Tuesday as Wall Street looked ahead to the result of the US election.</li><li>Some Trump trades edged up Tuesday morning after being hit on Monday by rising odds of a Kamala Harris win. </li></ul>US stocks rose on Tuesday as investors gear up for the result of the presidential election.Voters are heading to the polls to conclude the dramatic race between Kamala Harris and Donald Trump. The candidates are virtually <a target="_blank" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-state-polls-photo-finish-2024-11">tied in the polls nationally and in many swing states</a>, setting the stage for a period of uncertainty as vote counts come down to the wire. Though new momentum from Harris over the weekend weighed on the Trump trade on Monday, Treasury yields, bitcoin, and the Trump Media stock have all moved up on the day of the vote as markets position for a potential victory for the former president. Whoever does end up in the White House will have an impact on the trajectory of the <a target="_blank" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">the market</a>, as each candidate has promised sharply contrasting views on everything from trade to tax policy. Immediately following the election, Wall Street will turn to the Federal Reserve's policy meeting on Wednesday and Thursday. According to the CME FedWatch tool, markets see a 96% chance the Fed cuts its benchmark rate by 25 basis points at the conclusion of the meeting on Thursday. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,736.46, up 0.43% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,868.85, up 0.18% (+74.25 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,304.48, up 0.67%</li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://www.businessinsider.com/next-fed-rate-cut-forecast-jumbo-unemployment-labor-market-citi-2024-11">Another half-point rate cut could come this year amid job market weakness</a>, according to a Citi economist.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/crypto-political-spending-elections-2026-midterms-coinbase-fairshake-super-pac-2024-11?_gl=1*177ibwg*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgxMjgwNy43OTUuMS4xNzMwODE1NTI0LjIuMC4w">The crypto industry is already eyeing the 2026 midterms with $78 million geared for supportive candidates.</a></li><li><a target="_blank" href="https://www.businessinsider.com/polymarket-whale-betting-trump-win-losing-money-harris-odds-shift-2024-11">The Polymarket whale betting on Trump is down $3 million after Harris' odds jumped over the weekend.</a></li><li><a target="_blank" href="https://www.businessinsider.com/nvidia-ai-gpu-chips-demand-artificial-intelligence-debt-investing-cloud-2024-11">Chip fever has created an $11 billion debt market backed by Nvidia's AI-enabling GPUs.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil climbed 0.38% to $71.76 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, was higher by 0.35% to $75.34 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> increased by 0.30% to $2,754.1 an ounce.</li><li>The 10-year Treasury yield gained 1 basis point to 4.327%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> rose 1.97% to $68,814.</li></ul>

Stock market today: Indexes rise as Wall Street awaits the result of the US election

<ul class="summary-list"><li>Experts have been weighing in on why Donald Trump won the US election.</li><li>They pointed to Trump's strength on immigration and the economy and a global trend of voters punishing incumbents.</li></ul>There's been an avalanche of analysis following Donald Trump's <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">victory</a> in the US presidential election on Wednesday, as experts <a target="_blank" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">sought</a> to explain how the former president won a second term.They've offered a variety of reasons, ranging from a populist revolt against the elites to Vice President Kamala Harris' shortcomings as the Democratic candidate.Here is some of the best commentary we've seen.<h2 id="1dbed9eb-71c4-4a2e-b020-55984ea68b7b">Steve Hanke, Johns Hopkins University</h2>Hanke, professor of applied economics and former advisor to President Ronald Reagan, told Business Insider in an email: "The American voters have reacted negatively to the American elites who run the show in Washington, the media and so on and so forth. The election outcome was a revolt against the elites."<div type="image" title="Steve Hanke" height="2056" width="2876" msid="115028997" hostid="261" sizebytes="273344"></div><h2 id="a482e781-ed5e-4036-8353-8bd7360cc37a">Nate Cohn, chief political analyst at The New York Times</h2>"<a target="_blank" class="" href="https://www.nytimes.com/2024/11/06/upshot/trump-election-victory.html">Trump gained across the board</a> — including among the voters who seemed most skeptical of him eight years ago, from Hispanic voters in New York City to technology workers in San Francisco."None of this is what Democrats would have imagined a decade ago, when many of them assumed that demographic and generational change would bring a new Democratic majority. Instead, many of the voters whom Democrats viewed as the bedrock of their coalition grew so frustrated with the status quo that they decided to back Mr. Trump instead."<h2 id="7d3e8588-71be-466f-bbca-862acc528256">Tina Fordham, independent strategist and advisor</h2><a target="_blank" class="" href="https://www.linkedin.com/pulse/us-electionsbeyond-market-euphoriatrump-20-policy-bingo-tina-fordham-zzd3f/">"Trump's victory</a> is the most powerful example this year of a political and economic environment that has been brutal for incumbents around the world and brought home the fact that inflation is political kryptonite."This lesson will not soon be lost on governments — growth is not enough if prices are high and wages perceived to not keep pace. The dividing lines in US politics remain bright along geographical, educational, and gender lines, with Trump's strongest support coming from working-class men. This result will leave many Americans not only angry, but fearful.:On a global level, there is no getting away from the fact that Trump's victory will be transformational for both the US and the international system, with geopolitical and economic risks heightened."<h2 id="0f48b608-bdb9-4161-81db-e972ee4a57dc">Nate Silver, founder of FiveThirtyEight and author of the Silver Bulletin newsletter</h2>Silver republished a lengthy post from late October titled "<a target="_blank" class="" href="https://www.natesilver.net/p/24-reasons-that-trump-could-win">24 reasons that Trump won.</a>"Those reasons included inflation, negative perceptions of the economy and nostalgia for Trump's first term, sluggish wage growth, a cultural shift to the right, disillusionment among male and minority voters, and Harris' late nomination.Among Silver's other reasons were Trump's skill at convincing voters he's on their side and success in appealing to marginal voting groups; the Israel-Hamas war dividing the Democratic base; the assassination attempts on Trump boosting his favorability; and Harris' failure to explain her shift from left wing to moderate or articulate a clear vision for America.<div type="image" title="Nate Silver " height="2910" width="3978" msid="115028996" hostid="261" sizebytes="926368"></div><h2 id="cd87b061-0a72-4442-9fe7-4573c9e4074c">Matthew Yglesias, author of the Slow Boring newsletter</h2>"I think 'don't nominate women' would be the worst possible takeaway from this," Yglesias <a target="_blank" class="" href="https://x.com/mattyglesias/status/1854158785192907052">wrote on X</a>. "Lots of women overperform electorally, and since most Democrats are women if you become biased against nominating them you will cut the party off from talent. Learn from the ones who win!""Trump has made a lot of impossible and oft-contradictory promises and will have problems," Yglesias said in <a target="_blank" class="" href="https://x.com/mattyglesias/status/1854058474394566939">another X post</a>. He added in a follow-up tweet: "One obvious one is that Trump managed to both reassure a healthy slice of people about abortion rights while also retaining the enthusiastic support of people who really want to ban abortion. Hard needle to thread!"<h2 id="30bc6c65-8e3c-4fee-aad3-f93e66143c0d">Dominic Sandbrook, historian, commentator and author</h2>Sandbrook told <a target="_blank" class="" href="https://www.youtube.com/watch?v=WAyIAJCWVxA">The Rest is Politics podcast</a> that Kamala Harris failed to win sufficient support from female, Latino and Black voters, while Donald Trump had a "history of outperforming the polls … particularly in rural areas and the South and the suburbs." He argued that Harris and Hillary Clinton had similar weaknesses, with a proportion of the electorate unwilling to consider a female commander in chief.Many voters were also "suspicious" of a mixed-race woman from California who "appears to be the embodiment of, for want of a better expression, the metropolitan liberal elite," Sandbrook said.<h2 id="765cb88d-3d89-4393-acb3-cb2304fdb96c">Eric Corellessa, national political correspondent at TIME</h2>"The <a target="_blank" class="" href="https://time.com/7172052/how-donald-trump-won-2024/">Democrats' hasty replacement</a> of the first-term president with Harris deprived them of a better-tested candidate who could potentially have rallied broader support. Voters took Trump's own advanced age and increasingly incoherent trail rhetoric in stride. Much of the country read Trump's legal woes as part of a larger corrupt conspiracy to deny him, and them, power. And he benefited from a global restiveness in the wake of the COVID-19 pandemic that has ousted incumbent leaders around the world."Whenever abortion came up, Trump insisted the issue was now up to the states, and pivoted as much as possible to the economy, immigration, and crime—issues the campaign believed triggered anxiety with well-to-do suburban women who were open to backing him."Musk also turned X, his social-media platform, into a cauldron of conspiracy theories and characterized the stakes of the race to his more than 200 million followers as existential."

These 7 experts explain why Trump won, Harris lost — and what the election result means

<ul class="summary-list"><li>Ali Abbasi's film "The Apprentice" explores Trump's rise with lawyer Roy Cohn's guidance.</li><li>The film highlights Trump's tactics, which influenced his career and presidency.</li></ul>Director Ali Abbasi's "The Apprentice" presents a dramatized origin story for Donald Trump (played by Sebastian Stan), who, in the span of a few decades, goes from a nobody to a New York real-estate tycoon under the guidance of his lawyer, Roy Cohn (Jeremy Strong).Though the movie doesn't delve into Trump's political aspirations — it ends right when author Tony Schwartz begins to discuss ghostwriting the 1987 book "<a target="_blank" class="" href="https://www.businessinsider.com/the-art-of-the-deal-donald-trump-leadership-2017-1">The Art of the Deal</a>" with Trump — we see how the main lessons from Cohn would be Trump's guiding principles through his career and into his presidency, including attack, attack, attack; deny everything, admit nothing; and always claim victory.That "always claim victory" rule came into play during the 2020 presidential election. After his loss, Trump maintained that the election was stolen from him and that he'd actually won over Joe Biden.Soon after, Pro-Trump insurrectionists attacked the US Capitol in an attempted coup on January 6, 2021, that left four dead. Trump has <a target="_blank" class="" href="https://www.businessinsider.com/trump-denies-responsibility-jan-6-reaffirms-support-mccarthy-leaked-call-2022-4">denied responsibility for the January 6 insurrection</a> and publicly <a target="_blank" class="" href="https://www.presidency.ucsb.edu/documents/videotaped-remarks-the-attack-the-united-states-capitol-the-certification-the-electoral">condemned</a> it as a "heinous attack" that left him "outraged by the violence, lawlessness, and mayhem."<div type="image" title="trump speaking in nevada 2024" height="683" width="1024" msid="114227281" hostid="261" sizebytes="45562"></div>The 2024 presidential election, in which Trump seeks to reclaim the presidency against Vice President Kamala Harris, is now less than a month away.The question of whether Trump will accept the results of this election remains unclear. In May, Trump said he'd <a target="_blank" class="" href="https://www.cnn.com/2024/05/02/politics/donald-trump-accept-2024-election-results/index.html">accept the results if "everything's honest."</a> A month later, at the first debate with President Joe Biden, he was <a target="_blank" class="" href="https://www.axios.com/2024/06/28/trump-2024-election-results">unwilling to say if he would accept the results or not</a>. In August, he told <a target="_blank" class="" href="https://www.youtube.com/watch?v=dmfGRdlBq38">CBS News</a> he would accept the results if they were "fair and free."In a recent interview promoting "The Apprentice," Abbasi, who has been studying Trump since he signed on to make the film in 2018, weighed in on whether he believes Trump will accept the results in the event of a loss."I saw, like everyone else, what happened on January 6, which was horrific," <a target="_blank" class="" href="https://www.businessinsider.com/the-apprentice-ali-abbasi-director-donald-trump-movie-challenges-2024-10">he told Business Insider</a>. "And I have a feeling that a lot of people got away with insane stuff. Look at that footage.""When you see that, you think, why would they change their opinion about this election? Why would they magically accept this when they didn't accept that?" Abbasi continued.<div type="image" title="Maria Bakalova as Ivana Trump and Sebastian Stan as Donald Trump in &quot;The Apprentice.&quot;" height="675" width="1200" msid="114227280" hostid="261" sizebytes="66734"></div>"But somehow, I'm an optimist," he added. "I was optimistic when people told me not to do this movie, or when people said no one would buy this movie. So, I really hope that everyone learned their lesson on January 6th. I hope to think that even though people may be tempted to do that again, they know what the consequences are, and they don't do it."In August 2023, Trump was <a target="_blank" class="" href="https://www.businessinsider.com/trump-january-6-criminal-indictment-charges-explained-2023-7">indicted on four charges in connection to January 6,</a> including conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction or an attempt to obstruct an official proceeding, and conspiracy against rights. <a target="_blank" class="" href="https://www.businessinsider.com/trump-hit-with-revised-january-6-indictment-jack-smith-2024-8">A year later</a>, the four counts were revised to remove some of the alleged conduct that may now be protected by presidential immunity. Trump has <a target="_blank" class="" href="https://www.cnn.com/2024/09/03/politics/trump-not-guilty-plea-january-6-charges-smith/index.html">pleaded not guilty</a>.After interviewing Abbasi, Business Insider reached out to Trump for comment. A spokesperson for the former president slammed the movie."This 'film' is pure malicious defamation, should never see the light of day, and doesn't even deserve a place in the straight-to-DVD section of a bargain bin at a soon-to-be-closed discount movie store," Trump communications director Steven Cheung said in a statement. "It belongs in a dumpster fire.""The Apprentice" is now playing in theaters.

'The Apprentice' director is 'optimistic' Trump will accept the presidential election results

<ul class="summary-list"><li>Stocks jumped on Tuesday, led by tech as Palantir stock helped the Nasdaq climb 1.4%. </li><li>Traders are eyeing the result of the US presidential election. </li></ul>US indexes surged Tuesday as a jump in tech stocks pulled indexes higher as traders headed toward the end of the US presidential election. A record earnings report from <a target="_blank" href="https://markets.businessinsider.com/stocks/pltr-stock">Palantir</a> helped push tech higher, with the stock soaring 23.5% to close at $51.15. The data software company delivered a record profit while showcasing high demand for its artificial intelligence products. Other tech leaders also ended higher, with Nvidia jumping almost 3% such as Nvidia and Tesla closing 3.5% higher.Nvidia's rally on Tuesday helped the chip titan surpass Apple as the world's most valuable company by market cap, at $3.42 trillion versus Apple's valuation of $3.38 trillion. The S&amp;P 500 and tech-heavy Nasdaq climbed 1.2% and 1.4%, respectively in the session. The Dow Jones Industrial Average rose by almost 430 points.Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,782.76, up 1.23%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,221.88, up 1.02% (+427.28 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,439.17, up 1.43%</li></ul>As voters flocked to the polls, Wall Street is on edge for the possibility of an uncertain election outcome following the conclusion of the vote.Some popular Trump trades rose throughout the day, with bitcoin and shares of Trump Media rising in anticipation of a potential Republican win. Treasurys yields edged slightly lower, with the 10-year bond dipping two basis points to 4.289%.On Wednesday, Wall Street's focus will quickly shift from the presidential race to the Federal Reserve's two-day policy meeting.<a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html"> Futures markets</a> indicate a 98.2% chance the central bank cuts interest rates by 25 basis points at the conclusion of its meeting on Thursday.Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/super-micro-computer-stock-delisting-risk-this-month-november-smci-2024-11?_gl=1*567hsv*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgzNzI1MS44MDEuMS4xNzMwODM4MDQzLjU5LjAuMA..">Super Micro Computer faces delisting from the Nasdaq as it comes up against a compliance deadline. </a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-election-stock-market-outlook-best-case-scenario-congress-gridlock-2024-11?_gl=1*11y3l5j*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgzNzI1MS44MDEuMS4xNzMwODM3OTIxLjYwLjAuMA..">A divided Congress would be the best-case outcome for stocks, JPMorgan says.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/election-bear-market-us-economy-stock-market-outlook-goldman-sachs-2024-11?_gl=1*1rj5c60*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgzNzI1MS44MDEuMS4xNzMwODM3OTgxLjYwLjAuMA..">There's an 18% chance that stocks are heading toward a post-election bear market,</a> Goldman Sachs says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stocks-to-buy-recession-investing-strategy-defensive-economy-outlook-money-2024-11?_gl=1*1936m0t*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgzNzI1MS44MDEuMS4xNzMwODM4MTM0LjYwLjAuMA..">A warning signal in the economy is telling investors to load up on defensive stocks, research firm says.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-gas-ukraine-war-budget-moscow-crude-prices-2024-11?_gl=1*1yvzx3u*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMDgzNzI1MS44MDEuMS4xNzMwODM4MzA1LjYwLjAuMA..">Volatile crude prices send Russian oil revenue down 28% in October.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil rose 0.99% to $72.18 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, climbed 0.81% to $75.69 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> increased by 0.18% to $2,751.2 an ounce.</li><li>The 10-year Treasury yield dipped two basis points to 4.289%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> jumped 2.82% to $69,401.</li></ul>

You Searched For "elections results" and got 11 results

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