ibt-mailNov 8, 2024, 10:05 AM

What Trump's Win, Musk's Involvement Will Mean For US Tech

Newsletter Nov 8, 2024 Quick Six What Trump's win, Musk's involvement will mean for US tech What will Donald Trump's second stint in the White House mean for a US tech industry in the

Newsletter Nov 8, 2024

Quick Six

What Trump's win, Musk's involvement will mean for US tech
What will Donald Trump's second stint in the White House mean for a US tech industry in the throes of an artificial intelligence frenzy? For sure Elon Musk, the world's richest person, will play a central role in Trump's Silicon Valley policies after backing the Republican's presidential campaign. Musk is slated to take a major role in the White House, where he will likely have influence over the regulation of tech, including in matters related to his companies Tesla, SpaceX and the X (formerly Twitter) platform.
WHAT EXPERTS SAY ABOUT TECH INDUSTRY'S FUTURE

Fed announces rate cut; Powell vows to remain independent
While announcing a 0.25% interest rate cut on Thursday, Federal Reserve chair Jerome Powell made it clear that the outcome of the presidential election will not affect the US central bank's monetary policy actions. Powell announced the quarter-percent interest rate cut that, along with Donald Trump's election victory, has sent stock markets soaring. He said the Fed is "confident" in the "recalibration" efforts for the nation's monetary policy actions.
SEE POWELL'S STRONG COMMENTS ABOUT FED'S ROLE

'King of Debt' Trump shakes bond market over deficit fears
Donald Trump's comeback victory sent stock markets soaring, but also moved investors to the market for US government debt, driving up the highest yields in months, as traders kept an eye on the self-described "King of Debt" and his agenda of tax cuts and tariffs. The benchmark 10-year Treasury rose by almost a quarter point Wednesday to hit 4.48% at one point, its highest since July.
INVESTORS ARE CONCERNED ABOUT THE 'KING OF DEBT'

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Markets

DJIA	43,729.34	0.00%
S&P 500	5,973.10	0.74%
Nasdaq Composite	19,269.46	1.51%
Japan: Nikkei 225	39,451.91	0.18%
UK: FTSE 100	8,140.74	-0.32%
Crude Oil Futures	72.05	-0.43%
Gold Futures	2,706.90	0.04%
Yen	153.03	0.06%
Euro	1.08	-0.16%
* As of market close

Democrats try to pick up pieces after defeat

Democrats are facing a painful reckoning over Kamala Harris's defeat at the hands of Donald Trump in the US presidential election, as shock gives way to anger and recrimination in the aftermath of a devastating repudiation. Lawmakers and strategists looking for someone to blame for Tuesday's wipeout have so far been more likely to target President Joe Biden than Harris, who is regarded as having done a decent job with the short time she had to campaign. The election night disaster -- of Trump's triumph was accompanied by a Republican "red wave" in the Senate and the increasing likelihood of control over the House.

DEMOCRATS ARE 'SOUL-SEARCHING' AFTER ELECTION LOSS

Wiles becomes first female chief of staff

Although Americans will not see their first female president in 2024, at least one woman will make a major glass-ceiling breakthrough -- the first female to serve as White House chief of staff. Donald Trump's election victory over Kamala Harris has opened the door for Susie Wiles, considered the architect of his winning campaign, to become his White House chief of staff when Trump is inaugurated on Jan. 20, 2025. Wiles previously served under former President Ronald Reagan.

SEE OTHER LEADING CANDIDATES FOR TRUMP WHITE HOUSE

First artwork by humanoid robot nets $1.3M

A portrait of English mathematician Alan Turing became the first artwork by a humanoid robot to be sold at auction, fetching $1,320,000. "A.I. God" by "Ai-Da", the world's first ultra-realistic robot artist, broke pre-sale expectations of $180,000 when it went under the hammer at London auction house Sotheby's Digital Art Sale. Ai-Da, one of the most advanced robots in the world, is named after Ada Lovelace, the world's first computer programmer and was devised by Aidan Meller.

HOW THE HUMANOID ROBOT GET INSPIRATION FOR ARTWORK

Extra point

What is the oldest auction house still in operation? Where is it located?

Thursday's answer: The oldest Olympic sports remain from the ancient pentathlon -- the discus, javelin, long jump, running and wrestling.

In partnership with Exodus Movement, Inc.- US 1.

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