5 Things to Know for November 7: Key Events and Reactions Post-Election

1. Election Results

   • Former President Donald Trump secured a victory in the 2024 presidential race, regaining the White House by winning four pivotal battleground states: Pennsylvania, Georgia, North Carolina, and Wisconsin. With these wins, many experts believe Vice President Kamala Harris's path to victory is closed. Trump celebrated the results, envisioning what he called “the golden age of America.” Harris is set to address the nation as remaining votes are counted.

2. House & Senate Races

   • Republicans are projected to regain control of the Senate, marking their first majority since 2021. This shift could enable Trump to further influence the judiciary, a key priority during his first term. Meanwhile, control of the House remains undetermined and may take several days to finalize as vote tallies continue. Republicans hold a narrow majority in the chamber, adding further interest to the final results.

3. World Leaders React

   • International leaders responded to Trump’s victory with mixed reactions. Israeli Prime Minister Benjamin Netanyahu called the win “history’s greatest comeback,” reaffirming strong U.S.-Israel ties. Ukrainian President Volodymyr Zelensky noted Trump’s “peace through strength” stance and hinted at potential cooperation, although Trump previously suggested he might reduce U.S. support for Ukraine.

4. Abortion Rights

   • Voters in 10 states cast ballots on measures related to abortion rights, with Arizona, Colorado, New York, and Maryland approving amendments to protect or expand reproductive rights. However, Florida's amendment, which would have protected abortion up to viability, is projected to fail, maintaining the state’s six-week abortion ban. Other states, like Missouri, Nebraska, and South Dakota, debated invalidating restrictive abortion policies.

5. Stock Market Surge

   • The stock market reacted positively to Trump’s reelection, with Dow futures up 1,200 points and the S&P 500 and Nasdaq also showing substantial gains. Investors expect Trump’s deregulatory, pro-business stance to favor economic growth, although policies like tax breaks and increased public spending may heighten concerns about the national deficit. Bitcoin saw a significant rise, reaching near $74,000, while the U.S. dollar strengthened against major currencies.

This election aftermath signals substantial shifts in policy that could affect various sectors, domestic and international alliances, and the regulatory landscape, setting a potentially transformative period in American governance and economics.