Blue state Democrats issue scathing reflection on election loss: ‘We’re out of touch’
Two blue state Democrats in Congress issued blistering assessments of where their party stands after Tuesday night’s overwhelming election defeat and offered suggestions about changes that Democrats need to make. “That was a cataclysm,” Connecticut Sen. Chis Murphy posted on X. “Electoral map wipeout. Senate D practical ceiling is now 52 seats. R’s is 62.” “Time […]
Tesla headed for $2 trillion valuation after Musk’s ‘big bet’ on Trump win, analysts say
Tesla shares continue to soar after President-elect Trump secured a second term in the White House with CEO Elon Musk as a major backer, sending the electric vehicle maker’s valuation above $1 trillion following a post-election rally last week. Now, analysts see Tesla’s market capitalization doubling before Trump’s second term even hits the half-way mark. […]
Trump to install ‘energy czar’ to dismantle Biden climate rules: report
President-elect Donald Trump reportedly plans to install an “energy czar” to scale back energy and climate regulations implemented under the Biden administration. Six sources familiar with Trump’s transition team told the New York Times that a series of executive orders and presidential proclamations have been drafted related to climate and energy, aimed at rolling back […]
Trump is retaking power with a much more obedient GOP this time
Trump clashed a lot with his own party after he entered office in 2017. Now, many of those people are gone. Kamil Krzaczynski/AFP via Getty Images Trump’s second term will be much different than his first term. That’s in part because of how much he’s transformed the party in his own image since 2016. While […]
The Three Catalysts Sending Stocks to the Moon
Keeping with the theme of the week, stocks’ fast-and-furious rally continued again today. Indeed, it was a really, really good day for the markets. Sure, at the headline level, the Nasdaq only climbed about 1.5%, while the S&P 500 rose just 0.7%. That’s a pretty normal “good day” for Wall Street; nothing to write home […]
Investors accuse the ex-CEO of the company that helped take Trump Media public of stiffing them out of millions of shares
Investors are suing the former CEO of the company that helped take Trump media Cheng Xin/Getty Images Investors accuse Florida businessman Patrick Orlando of diverting millions of Trump Media shares from them. Orlando was the CEO of the blank check firm that helped take Trump Media public. Plaintiffs say in a lawsuit that Orlando “engaged […]
The Federal Reserve Cut Rates – Are More on the Way?
This week has been significant for market-impacting events. First, we had the presidential election on Tuesday. While many didn’t expect it to be called so quickly, it became clear that Donald Trump won in the early morning hours on Wednesday after he did a lot better than people thought he would. (I sent a special […]
Fed Chair Powell stands firm amid questioning about whether Trump will push him out
Fed chair Jerome Powell said he will not resign if President-elect Donald Trump asks him to leave. Kent Nishimura/Getty Images Reporters asked Fed Chair Jerome Powell whether he would resign if President-elect Trump asked him to. Powell responded with one word: “No.” Trump has been critical of Powell, but the law does not permit a […]
What a Trump Presidency Means for U.S. Chip Manufacturing
Tom Yeung here with today’s Smart Money. There’s an old Aesop’s fable known as “The Hound and The Hare.” The story reads… One day, a shepherd sees a hound chasing a hare. After a long run, the hound gives up and lets the hare go. The shepherd mocks the hound, saying, “The little one is […]
Silicon Valley’s Trump boosters celebrate: ‘It’s time to build’
Elon Musk jumps for joy at Trump’s rally in Butler, Pennsylvania. Jim Watson/AFP via Getty Images Tech leaders who openly supported Donald Trump took to X to celebrate his win Wednesday morning. “Warned you for months: Landslide,” said Keith Rabois, a venture capitalist and prominent donor. Venture capitalists invested millions in elections, with notable GOP […]
