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The election of Donald Trump has major financial and business implications
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The election of Donald Trump has major financial and business implications

Good morning, Quartz readers!


HERE'S WHAT YOU NEED TO KNOW

Donald Trump won the presidency. Here's what that means everything from tariffs to immigration.

Wall Street was ecstatic about the Republican victory. The markets were booming the day after the election was called.

One stock in particular received the news particularly positively. Trump Media shares skyrocketed afterward The company's namesake was chosen to the highest office in the land.

Cryptocurrency investors were also in a celebratory mood. Bitcoin reached a record high after the polls closed and the results brought Trump to power.

Business leaders lined up to congratulate Trump. Mark Cuban, Sam Altman and Jeff Bezos were all among the CEOs and bold names who did this brought their congratulations.


Megabanks are very lucky with Trump 2.0

One sector of the economy whose mouths are watering at the idea of ​​a Donald Trump presidency is banking. Analysts at Wells Fargo have even gone so far as to call Trump 2.0 a “regulatory game changer.”

Fewer restrictions and more tax cuts are among the many friendly measures America's lenders are looking forward to. The Wells Fargo team summarized the sentiment as “more free markets, less stringent oversight.”

How else do big banks expect to benefit from another Trump White House? Rocio Fabbro from Quartz explains the effects on capital his return.


Tesla's Musk has teamed up with the new president

Elon Musk made a pretty big bet — so much so that he threw millions of dollars in a quasi-lottery of dubious legality — that the 45th president would come back as No. 1. 47. And he won.

Now investors are pumping up Tesla shares as they see a brighter future for a company whose CEO has spent the last few months cozying up to Donald Trump. They see his possible political influence as a positive development for his electric car company.

What role is Musk likely to play in a second Trump administration? Quartz's William Gavin explains the talk The tech billionaire's potential portfolio.


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Starbucks' CEO believes the key to his business is selling coffee

🥃 A very fancy bottle of Scotch just sold for $67,000


SURPRISING DISCOVERIES

There is a website that pressures voters upon request. The Voter Reference Foundation's VoteRef platform mines public election data for disclosure more information than people realize is out there about them. (paywall)

Islamic finance is a $6.5 trillion industry. The religious banking practice, which is less frothy than its Western counterpart, is a growing force in the world of investing.

The oil industry accounts for 90% of Nigeria's exports. Much Bad things were bound to happen that fossil fuels reach this proportion. (paywall)

One state dominated the Bureau of Land Management's annual bat beauty pageant. “Hoary Potter” extends Oregon’s competitive supremacy three years in a row (or fly).

There was a bear recruit in Poland during World War II. It loved beer, cigarettes and occasionally carried artillery shells during the fight.


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Our best wishes for a safe start to the day. Send news, commentary, beautiful bats, and laissez-faire economics survival techniques to [email protected]. Today's Daily Brief was brought to you by Melvin Backman and Audrey McNamara.

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