U.S. Stock Futures Surge as Trump Appears on Track for Second Term

U.S. stock futures saw a significant increase early on Wednesday, with Dow and S&P 500 futures rising by over 2%, as former President Donald Trump appeared to be on track for a second term in the White House. Pre-market trading showed Dow Futures up by more than 1,100 points, while S&P 500 Futures rose by 2.23%. Trump Media & Technology Group, the parent company of Trump's Truth Social platform, also saw a rise of over 23.6% in pre-market trading. Trump is close to securing the presidency with 267 electoral votes to Harris' 224, according to The Associated Press. Winning any of the states he is leading in, including Wisconsin, Michigan, Nevada, Arizona, and Alaska, would secure his victory. The control of the House remains uncertain, and a GOP trifecta could lead to a 3% surge in the S&P 500, while a divided Congress would result in a 1.5% increase, according to Goldman Sachs. Trump has declared victory after winning Pennsylvania. Additionally, Bitcoin reached an all-time high of over $75,000 before settling at around $73,500.