Donors may start falling in line, too. A number of Haley supporters are reportedly heading to the exits: An unnamed Republican fund-raiser told CNBC’s Brian Schwartz that one of her donors was done with her campaign, declaring it over.
Meanwhile, Puck’s Teddy Schleifer wrote on the social media platform X that the casino magnate Steve Wynn and the financier John Paulson attended Trump’s New Hampshire victory party last night. And Senator Tim Scott of South Carolina, who appeared at the event, told Schleifer that he expected the Oracle co-founder Larry Ellison, his biggest backer before Scott dropped out of the primary race, to support Trump as well.
Investors are increasingly contending with what a Trump victory might mean. Many forecast a drastic pullback in regulation, particularly in antitrust, and a swing in support from clean energy businesses back to fossil-fuel producers.
Holger Schmieding, an economist at Berenberg, added in a note today that a second Trump administration may also include increased government spending and “a lack of fiscal discipline that would likely be at least as pronounced as currently under” President Biden. That said, he concluded, he would not expect forecasts for U.S. growth to change much under either a Trump or Biden second term.
HERE’S WHAT’S HAPPENING
The semiconductor equipment maker ASML reports blockbuster earnings. Shares in the Dutch company were up sharply in premarket-trading after it said that fourth-quarter profit jumped 9 percent over last year. ASML chalked up the bumper results to strong demand for chips tied to artificial intelligence applications, but it kept its 2024 sales forecast flat because of new limits on exports to China.